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4. COMPENSATION AND REIMBURSEMENT OF OPERATING EXPENSES <br />a. As total compensation for Operator's services under this Agreement, City <br />agrees to pay and Operator agrees to accept, a Management Fee in the amount of <br />Two Thousand Five Hundred Dollars ($2,500) per month. Further, Operator shall <br />recover its Operating Expenses in an amount not to exceed One Million One <br />Hundred Eighty Thousand Dollars ($1,180,000) each Fiscal Year or the perorated <br />portion thereof, in accordance with the terms of this Agreement. <br />b. Adjustments to Charges. The patties may agree to an annual adjustment (not to <br />exceed 2 1/o) at the end of the first year of the Agreement every year thereafter, <br />utilizing the month of December statistics and supporting documentation. The <br />two indices which will be used for determining adjustments shall be the most <br />recent December Consumer Price Index (CPI) for All Urban Consumers for Los <br />Angeles- Anaheim - Riverside CMSA, published by the United States Department <br />of Labor Bureau of Labor Statistics or any relevant successor for the Orange <br />County area. <br />c. Extra Work. No new work of any kind shall be considered as extra unless a <br />separate estimate is given for said work and the estimate is approved by the City <br />in writing before work is commenced. The Operator will be required to provide <br />detailed information of such extra work. Documentation of contract compliance <br />may be required on some occasions. <br />5. DESIGNATION OF OPERATOR AS MANAGER: PARKING FACILITIES TO BE <br />OPERATED <br />A. Non - exclusive Agreement. Operator's right to operate the Parking Facilities is <br />non - exclusive. <br />B. Designation of Operator as Manager. City hereby designates and hires Operator <br />as the operator and manager of the hereinafter described Parking Facilities and <br />Operator accepts such designation and agrees to operate and manage the Parking <br />Facilities subject to the terms, covenants and conditions of this Agreement. <br />Operator acknowledges that this Agreement conveys no interest in nor attaches to <br />any underlying real property comprising the Parking Facilities. Accordingly, City <br />and Operator agree that nothing in this Agreement shall entitle or permit or be <br />construed to permit Operator to file any claim, lien or notice against any real <br />property. As material consideration for this Agreement, Operator waives any <br />rights it may now or hereafter have to record a tis pendens against the Parking <br />Facilities under Section 405 el. seq. of the California Code of Civil Procedures, or <br />any other provision of law, if a dispute arises under this Agreement. <br />C. Parking Facilities to be Operated. Operator shall operate those certain vehicular <br />Parking Facilities, together with all incidental and appurtenant improvements <br />