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The amount to be expended for services shall not exceed Four Hundred Thousand Dollars ($400,000.00) <br />annually during the term of this agreement. <br />b. Invoices <br />1. The contractor shall submit a monthly invoice by the fifteenth of the month to the City for <br />the services rendered in the prior month. <br />2. All invoices for work performed under this contract shall be submitted in a format approved <br />by the City. Invoices shall include the following information at a minimum <br />i. Contractor's invoice number <br />ii. Beginning and ending dates for services <br />iii. City project number and/or name (if applicable) <br />iv. Work site address/location (if applicable) <br />v. Unit cost, subtotals and total for invoice <br />c. Payment by City shall be made within sixty (60) days following receipt of proper invoice, <br />subject to City accounting procedures. Payment need not be made for work which fails to meet the <br />standards of performance of a professional parking control enforcement services. <br />d. Price Adjustments <br />The parties may annually agree to an adjustment of charges (not to exceed 2%) commencing at <br />the end of the first year of the agreement, utilizing the month of December statistics and supporting <br />documentation. The index which will be used for determining adjustments to services charges shall be the <br />most recent December Consumer Price Index (CPI) for All Urban Consumers for Los Angeles -Anaheim - <br />Riverside CMSA, published by the United States Department of Labor Bureau of Labor Statistics or any <br />relevant successor for the Orange County area. <br />e. Extra Work <br />No new work of any kind shall be considered an extra unless a separate estimate is given for said <br />work and the estimate is approved by the City in writing before the work is commenced. The contractor <br />will be required to provide detailed information of such extra work. Documentation of contract <br />compliance may be required on some occasions. Work performed prior to obtaining written approval of <br />the City shall not be included within the Scope of Work and may not be paid. <br />a.ENNOWN`it <br />This Agreement shall commence on the date first written above and terminate on June 30, 2015, <br />unless terminated earlier in accordance with Section 14, below. This Agreement may be renewed for up <br />to two additional one-year periods upon the written agreement of the parties. The term of this Agreement <br />may be extended upon a writing executed by the City Manager and the City Attorney. <br />5. CITY OBLIGATIONS <br />City shall provide Contractor with all records in the possession of City which will be of assistance <br />to Contractor in the performance of this Agreement. <br />