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<br /> <br /> <br /> <br /> <br /> <br /> <br /> IV. PAYMENTS/COST REPORT <br /> A. Project Sponsor shall pay Contractor for the actual costs of providing the <br /> administration of services hereunder, provided, however, the total of all payments <br /> to Contractor shall not exceed the Maximum Obligation as specified in Section III <br /> of the Agreement. <br /> <br /> B. Contractor shall invoice Project Sponsor monthly in arrears, based on the <br /> actual cost of providing and contracting for the services hereunder. Project <br /> Sponsor shall pay Contractor no later than thirty (30) days following receipt of <br /> such invoice. Monthly payments are interim payments only, and are <br /> subject to final settlement and reconciliation to the final Cost Report submitted <br /> by Contractor. <br /> C. All billings by Contractor shall be accompanied by copies of source <br /> documentation including, but not limited to, journals, time sheets, canceled <br /> checks, and records of cost incurred by Contractor in the performance of this <br /> Agreement. <br /> <br /> D. At such times and in such a format as the Contract Officers mutually agree in <br /> writing, Contractor shall prepare and submit to Project Sponsor reports of cost <br /> incurred by Contractor in the performance of this Agreement. <br /> <br /> E. The Cost Report(s) shall be financial and statistical reports(s) submitted by <br /> Contractor to Project Sponsor, and shall serve as the basis for final Settlement of <br /> this Agreement. The Cost Reports(s) shall detail all costs incurred by Contractor <br /> to provide services hereunder. <br /> F. Final Settlement shall be based upon the actual costs incurred by Contractor <br /> to provide services hereunder. If the Cost Report(s) indicates the total <br /> of Project Sponsor's payments to Contractor are less than Contractor's cost to <br /> provide the services hereunder, Project Sponsor shall pay Contractor the <br /> difference; provided, however, the total payment shall not exceed the Maximum <br /> Obligation. If the Cost Report(s) indicates the total of Project Sponsor's <br /> payments to Contractor are higher than Contractor's cost of providing the services <br /> hereunder, Contractor shall pay Project Sponsor the difference. Payment due <br /> pursuant to the Cost Report(s) shall be made within thirty (30) days of the Final <br /> Settlement determination. <br /> <br /> G. Any funds not expended by fiscal year end, June 30, 2014 shall be returned to <br /> Project Sponsor. Said unexpended funds shall be reallocated by City through the <br /> HOPWA Program. <br /> V. DISPUTE RESOLUTION <br /> <br /> A. Any party may give written notice to the other setting forth in specific terms the <br /> <br /> <br /> <br /> 3 <br />