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Hourly rates are exclusive of expenses and are subject to adjustment by <br />CONSULTANT annually, beginning July 1, 2017 by the United States <br />Department of Labor Bureau of Labor Statistics All Urban Consumers Consumer <br />Price Index (CPI) as determined for the Los Angeles -Riverside -Orange County <br />California Area - Base Period 1982-84 = 100, as measured by the change in the <br />CPI from the monthly period ending October 31, 2016 thru June 30 of each year. <br />July of each year CONSULTANT shall provide CITY with an updated schedule of <br />hourly rates. Annually adjusted rates will not change (+ / -) by more than four <br />percent (4%) per year. In addition, expenses for Optional Services shall be billed <br />at 1.15 times actual incurred costs. <br />4-6.3 Fees for Bond Services <br />Services under Section 4.5.0 above will be determined depending upon <br />the complexity of the bond issue and the time available for completion of the task <br />and will be mutually agreed to be the parties. <br />4-6.4 Indirect Expenses <br />Except as specified above, no other charges shall be made for direct or <br />indirect expenses incurred by CONSULTANT in performing the services in the <br />Scope of Services including for administrative overhead, salaries of <br />CONSULTANT'S employees, travel expenses or similar matters. <br />4-6.5 Due Date <br />All fees are due 45 days immediately following billing. All amounts that <br />are not paid when due shall accrue interest from the due date at the rate of one <br />percent per month (12% per annum). <br />4-7.0 TERM PERFORMANCE SCHEDULE <br />4-7.1 ImDlementation <br />Implementation of services should begin as soon as possible from the Effective <br />Date for the performance of services under the terms of this Agreement. <br />4-7.2 Schedule of Performance <br />CONSULTANT shall commence the services pursuant to this Agreement <br />upon receipt of a written notice to proceed and shall perform all services within <br />the time period(s) established in the "Schedule of Performance" attached hereto <br />as Exhibit "B", and incorporated herein by this reference. When requested by the <br />CONSULTANT, extensions to the time period(s) specified in the Schedule of <br />Performance may be approved in writing by the Contract Officer but not <br />exceeding one hundred eighty (180) days cumulatively. <br />4-7.3 Force Majeure <br />The time period(s) specified in the Schedule of Performance for <br />performance of the services rendered pursuant to this Agreement shall be <br />25B-14 <br />