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Administration <br />$12,000.00 <br />TOTAL (Maximum Obligation) $12,000.00 <br />N. PAYMENTS/COST REPORT <br />A. Project Sponsor shall pay Contractor for the actual costs of providing the <br />administration of services hereunder, provided, however, the total of all payments <br />to Contractor shall not exceed the Maximum Obligation as specified in Section III <br />of the Agreement. <br />B. Contractor shall invoice Project Sponsor monthly in arrears, based on the <br />actual cost of providing and contracting for the services hereunder. Project <br />Sponsor shall pay Contractor no later than thirty (30) days following receipt of <br />such invoice. Monthly payments are interim payments only, and are <br />subject to final settlement and reconciliation to the fnal Cost Report submitted <br />by Contractor. <br />C. All billings by Contractor shall be accompanied by copies of source <br />documentation including, but not limited to, journals, time sheets, canceled <br />checks, and records of cost incurred by Contractor in the performance of this <br />Agreement. <br />D. At such times and in such a format as the Contract Officers mutually agree in <br />writing, Contractor shall prepare and subrr~it to Project Sponsor reports of cost <br />incurred by Contractor in the performance of this Agreement. <br />E. The Cost Report(s) shall be financial and statistical reports(s) submitted by <br />Contractor to Project Sponsor, and shall serve as the basis for final Settlement of <br />this Agreement. The Cost Reports(s) shall detail all costs incurred by Contractor <br />to provide services hereunder. <br />F. Final Settlement shall be based upon the actual costs incuzxed by Contractor <br />to provide services hereunder. If the Cost Report(s) indicates the total <br />of Project Sponsor's payments to Contractor are less than Contractor's cost to <br />provide the services hereunder, Project Sponsor shall pay Contractor the <br />difference; provided, however, the total payment shall not exceed the Maximum <br />Obligation. If the Cost Report(s) indicates the total of Proj ect Sponsor's <br />payments to Contractor are higher than Contractor's cost of providing the services <br />hereunder, Contractor shall pay Project Sponsor the difference. Payment due <br />pursuant to the Cost Report(s) shall be made within thirty (30) days of the Final <br />Settlement determination. <br />G. Any funds not expended by f scat year end, June 30, 2012 shall be returned to <br />Project Sponsor. Said unexpended funds shall be reallocated by City through the <br />HOPWA Program. <br />3 <br />