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of this Agreement. A fifteen percent contingency is available should the City request broker <br />services to lease additional space at the SARTC. The total sum to be expended pursuant to this <br />Agreement shall not exceed $69,000. <br />b. Fifty percent (50 %) of the commission payment shall be made within thirty (30) days <br />following execution of a lease for the Premises. <br />c. The remaining fifty percent (50 %) of total payment by City shall be made in twenty - <br />four (24) equal monthly payments, paid on or before the 15t` day of the month. Said payment <br />shall commence the month following the initial commission payment set forth in paragraph 3.b., <br />above. However, if the Tenant does not complete the lease term for any reason, Broker shall <br />market the unexpired term free of charge. <br />d. Monthly payment by City shall be made within thirty (30) days following receipt of <br />lease payment. <br />4. TERM <br />This Agreement shall commence on the date first written above and the Broker <br />authorization shall terminate on June 30, 2013, unless terminated sooner pursuant to Section 13, <br />below. Notwithstanding the foregoing, the parties agree that the term of this Agreement will <br />remain open solely for the purpose of paying compensation over the twenty -four month period set <br />forth in Section 3.c., above. The term of this Agreement may be extended by a writing executed <br />by the Executive Director of Public Works, City Attorney and Broker. <br />5. INDEPENDENT CONTRACTOR <br />Broker shall, during the entire term of this Agreement, be construed to be an independent <br />contractor and not an employee of the City. This Agreement is not intended nor shall it be <br />construed to create an employer - employee relationship, a joint venture relationship, or to allow <br />the City to exercise discretion or control over the professional manner in which Broker performs <br />the services which are the subject matter of this Agreement; however, the services to be provided <br />by Broker shall be provided in a manner consistent with all applicable standards and regulations <br />governing such services. Broker shall pay all salaries and wages, employer's social security taxes, <br />unemployment insurance and similar taxes relating to employees and shall be responsible for all <br />applicable withholding taxes. <br />6. INSURANCE <br />Prior to undertaking performance of work under this Agreement, Broker shall maintain <br />and shall require its subcontractors, if any, to obtain and maintain insurance as described below: <br />a. Worker's Compensation Insurance. In accordance with the provisions of Section 3300 <br />of the Labor Code, Broker, if Broker has any employees, is required to be insured against liability <br />for worker's compensation or to undertake self - insurance. Prior to commencing the performance <br />of the work under this Agreement, Broker agrees to obtain and maintain any employer's liability <br />insurance with limits not less than $1,000,000 per accident. <br />b. Professional liability (errors and omissions) insurance, with a combined single limit <br />of not less than $1,000,000 per claim, and $2,000,000 in the aggregate. <br />25D -4 <br />