03 - HOPWA EX. 1 - Laserfiche WebLink

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N. PAYMENTS/COST REPORT A. 1 } City shall pay Project Sponsor far the actual costs of providing the administration of services hereunder, whether provided directly by Project Sponsor, provided, hawever, the total of all payments to Project Sponsor shall not exceed the Maximum Obligation as specified in Section III of the Agreement. 2) City shall draw down HOPWA fiends designated for rental subsidy payments on a monthly basis after receipt of certification of individual of individual tenant subsidy amounts. After final approval by City, funds wi11 be disbursed to landlords. B. Project Sponsor shall invoice City monthly exclusive of rental subsidy payments, in arrears, based on.the actual cost ofproviding and contracting for the services hereunder. City shall pay Project Sponsor no later than thirty {30} days following receipt of such invoice. Monthly payments are interim payments only, and are subject to final settlement and reconciliation to the fnal Cost Report submitted by Project Sponsor. C. All billings by .Project Sponsor shall be accompanied by copies of source documentation including, but not limited to, journals, time sheets, canceled checks, and records of cost incurred by Project Sponsor in the performance of this Agreement. D. At such times and in such a format as the Contract Officers mutually agree in writing, Project Sponsor shall prepare and submit to City reports of cost incurred by Projeet Sponsor in the performance of this Agreement. E. The Cost Report{s) shall be financial and statistical reports{s) submitted by Projeet Sponsor to City, and shall serve as the basis for final Settlement of this Agreement. The Cost Reports(s) shall detail all costs incurred by Project Sponsor to provide services hereunder. F. Final Settlement shall be based upon the actual costs incurred by Project Sponsor to provide services hereunder. If the Cost Report{s} indicates the total of City's payments to Project Sponsor are less than Project Sponsor's cost to provide the services hereunder, City shall pay Project Sponsor the difference; provided, however, the total payment shall not exceed the Maximum Obligation. If the Cost Report{s) indicates the total of City's payments to Project Sponsor are higher Phan Project Sponsor's cost of providing the services hereunder, Project Sponsor shall pay City the difference. Payment due pursuant to the Cost Report(s) shall be made within thirty (30} days of the Final Settlement determination.