25F - AGMT - RFP - BUS SHELTER AND BENCH SRVS

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The term of this contract shall commence the date of City Council award and approval of all insurance and bonds, and terminate at the end of ten (10) years, unless earlier terminated as set forth in Section H, below. City is hereby granted an option to renew for up to two (2) additional five (5) -year periods under the terms and conditions set forth herein. Said options shall be exercised in writing at least thirty (30) days prior to the end of the initial term or any extension thereof. B. EXCLUSIVE AGREEMENT FEE - PAYABLE TO CITY 1. All exclusive agreement fees due to the City shall be paid quarterly in arrears. Late payments will be subject to a ten percent (10%) penalty for each fifteen (15) days that payment is late. 2. Extra Work - Additional Bus Shelters, Benches, Trash Containers No new work of any kind shall be considered an extra unless a separate estimate is given for said work and the estimate is approved by the City in writing before the work is commenced. The Contractor will be required to provide detailed information of such extra work. Documentation of contract compliance may be required on some occasions. Work performed prior to obtaining written approval of the City shall not be included within the Scope of Work and may not be paid. C. PERFORMANCE BOND The successful proposer shall supply a performance bond in the amount of five- hundred thousand dollars ($500,000.00) prior to execution of the contract. Upon receipt of the performance bond, the proposal deposit will be returned. The proposal deposit is subject to be forfeited if the successful proposer fails to execute the written contract and furnish the required performance bond, or to satisfy any other conditions present within a reasonable time as determined by the City. The performance bond is to be renewed annually and submitted by the Contractor in the amount of the total annual contract amount. D. ACCESS TO RECORDS Contractor shall make its records, documents, books, reports, billing and methods of accounting available to the City's designated representative during normal business hours to allow such person to review, verify and audit said records. Said records shall be available during the term of this Agreement and thereafter for two (2) years. The Contractor shall maintain financial records in accordance with generally accepted accounting principles. E. INDEPENDENT CONTRACTOR During the entire term of this contract, Contractor shall be an independent contractor and not an employee of the City. This contract 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 manner in which Contractor performs the 25F-7