DOWNTOWN INC.(DTI)-2018 - Laserfiche WebLink

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Terms, unless terminated earlier in accordance with sections 4,02 or 4.05, below. § 1.04 Status of DTI (a) By its execution of this Agreement, DTI warrants that it is duly incorporated under the laws of the State of California and that true and correct copies of its Articles of Incorporation and Bylaws and a true and correct listing of DTI's officers and their terms of office, certified as such by DTI's Secretary, have been filed with the Clerk of the Council. (b) By its execution of this Agreement, City accepts and agrees to the organization of DTI as set forth in the above said Articles of Incorporation and Bylaws. ARTICLE 2 CLEAN AND SAFE PROGRAM SERVICES, FUNDS, AND REPORTS AND RECORDS § 2.01 Clean and Safe Proinumm Services DTI shall perform those Clean and Safe Program services as set forth in the Scope of Work attached hereto as Exhibit A and incorporated herein by reference, § 2.02 Clean and Safe Program Funding (a) City shall provide funding for the Clean and Safe Program throughout the term of this Services Agreement. City and DTI shall maintain an account, into which the City shall deposit $125.000. DTI shall be permitted to expend up to, but no more than, one-third (1/3) of the money in the account ($41,667 per month) for Clean and Safe Program contract expenses for each calendar month. Once the Clean and Safe Program services are rendered, and payment is documented, DTI shall provide City with proof of payment in the form of cancelled checks and invoices. After the City confirms and approves the proof of payment, the City shall make an additional deposit into the above -referenced account in the approved amount, thus returning the account balance to $125,000. City will not make additional deposits for DTI's administrative costs, or any other non -services related fees or costs. Each additional deposit shall be for the same amount that DTI demonstrates it paid out for services. City's obligation to make deposits shall be limited to no more than $500,000 per year of the Services Agreement. (b) All Clean and Safe Program expenditures must be for the purposes identified in the Clean and Safe Program Scope of Work, and must be sufficiently documented by accompanying receipts, purchase invoices, or other permanent evidences of expenditure as may be prudently required by the City in accordance with Generally Accepted Accounting Principles and established City accounting procedures. If DTI expends any Clean and Safe Program money for unauthorized purposes, the City may, at its sole option, deduct the disputed amount from any future Clean and Safe Program payments to DTI, or may terminate the Agreement pursuant to the terms of section 4.05. 3