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IV. DEFINITIONS <br />None. <br />V. TERMS AND CONDITIONS <br />A. TERM <br />The term of this Contract is projected to commen <br />City Council award of this contract and upon rec <br />and insurance documents and terminate Dec <br />as set forth in Section H, below. City <br />additional one -year periods. Said option be <br />days prior to the end of the initial term o exten <br />CONTINUED FUNDING <br />In the event funding is not al <br />during the annual budget app <br />occurrence in writing at least thi <br />and contract shall terminate on <br />expense to the CiW91"k,, <br />pind apI <br />Or 31, 2014, <br />'ant an option <br />exercised in w <br />January 1, 2013 after <br />I of all required bonds <br />se a rlier terminated <br />ew up to three <br />tin east thirty (30) <br />►ns and Management services <br />all notify the provider of such <br />of the current fiscal period, <br />I period without penalty or <br />agree'! accept a flat monthly fee for the scope of <br />bursed for certain costs including routine <br />merge air costs, minor improvements and additional <br />approved in advance by the City. <br />?W for each of the five parking facilities. Evaluation will be <br />monthly fee of all five facilities. <br />e indicating the components of the proposed fee for each <br />unting, overhead, profit, etc.) <br />Hourly Ilse for additional cashiers, parking attendants or other staff when <br />required /requested by the City. <br />d. The parties may annually agree to an adjustment of parking operations and <br />management services charges (not to exceed 2 %) commencing at the end of the <br />first year of the agreement, utilizing the month of December statistics and supporting <br />documentation. The two indices which will be used for determining adjustments to <br />parking operations and management services charges shall be the most recent <br />December Consumer Price Index (CPI) for All Urban Consumers for Los Angeles- <br />01 <br />19C -11 <br />