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3. COMPENSATION <br />a. City agrees to pay, and Consultant agrees to accept as total payment for its services, <br />the rates and charges identified in Consultant's Fee Schedule, attached hereto as Exhibit B. The <br />total sum to be expended on all consultants providing goodwill appraisal services and furniture, <br />fixture and equipment appraisal services shall not exceed an aggregate of $300,000, during the <br />term of this Agreement. <br />b. Payment by City shall be made within thirty (30) days following receipt of proper <br />invoice evidencing work performed, subject to City accounting procedures. The invoice shall <br />include a detailed breakdown of the services provided, the project title, the tasks, the hours, and <br />hourly rates. Payment need not be made for work which fails to meet the standards of <br />performance set forth in the Recitals which may reasonably be expected by City_ <br />4. TERM <br />This Agreement shall commence on March 1, 201 1 and terminate on the later of February <br />28, 2012, or the expenditure of allocated funds, unless terminated earlier in accordance with <br />Section 13, below. The City shall have the option to extend the term for an additional one-year <br />period. <br />5. INDEPENDENT CONTRACTOR <br />Consultant shall, during the entire term of this Agreement, be construed to be an <br />independent contractor and not an employee of the City. This Agreement is not intended nor <br />shall it be construed to create an employer-employee relationship, a joint venture relationship, or <br />to allow the City to exercise discretion or control over the professional manner in which <br />Consultant performs the services which are the subject matter of this Agreement; however, the <br />services to be provided by Consultant shall be provided in a manner consistent with all applicable <br />standards and regulations governing such services. Consultant shall pay all salaries and wages, <br />employer's social security taxes, unemployment insurance and similar taxes relating to employees <br />and shall be responsible for all applicable withholding taxes. <br />6. INSURANCE <br />Prior to undertaking performance of work under this Agreement, Consultant shall <br />maintain and shall require its subcontractors, if any, to obtain and maintain insurance as described <br />below: <br />a. Commercial General Liability Insurance_ Consultant shall maintain commercial <br />general liability insurance which shall include, but not be limited to protection against claims <br />arising from bodily and personal injury, including death resulting therefrom and damage to <br />property, resulting from any act or occurrence arising out of Consultant's operations in the <br />performance of this Agreement, including, without limitation, acts involving vehicles. The <br />amounts of insurance shall be not less than the following: single limit coverage applying to bodily <br />and personal injury, including death resulting therefrom, and property damage, in the total <br />amount of $1 ,000,000 per occurrence. Such insurance shall (a) name the City, its officers, <br />employees, agents, volunteers and representatives as additional insured(s); (b) be primary with <br />respect to insurance or self-insurance programs maintained by the City; and (c) contain standard <br />separation of insureds provisions. <br />