CIBA REAL ESTATE - 2012 - Laserfiche WebLink

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