R2019-118 Resolution Approving an Agreement for Reimbursable Utility Adjustment Between the City of Decatur and Ameren Illinois Company to Relocate Their Electrical Substation Located at 1840 North Brush College Road

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4. The total estimated cost of adjustments to the COMPANY's facilities,as hereinabove described including a tax gross up, is$4,817,982.00,as shown on the detailed estimate of cost attached hereto and made a part hereof. The CITY's obligation to pay for the cost of work under this contract shall be 100%of the actual cost thereof. CITY agrees that payments for this work shall be made in installments. The first installment of Two Hundred Fifty Thousand Dollars($250,000.00)shall be paid immediately upon execution of this Agreement;the second installment of One Million Seven Hundred Fifty-eight Thousand Two Hundred Thirty-Three Dollars($1,758,233.00)and shall be paid on or before the ordering of materials by the COMPANY to perform the work;the third installment shall be equal to the land contract purchase price plus 10%and shall be paid on or before the closing date of the substation land purchase; the fourth installment of Two Million Six Hundred Sixty-Six Thousand Seven Hundred Forty-Nine Dollars ($2,666,749.00)shall be paid on or before the COMPANY breaks ground on the new substation;and the final payment shall be billed at actual cost on or before 6 months after completion of the work. Any invoice remaining unpaid more than thirty(30)days from receipt will accrue interest at the lower rate of either(1)one and one-half percent(1.5%) per month,or(2)the highest rate allowed by law. In the event of a dispute with regard to any portion of an invoice,the undisputed portion will be paid. 5. Reimbursement for the cost of the CITY's liability will be on the basis of actual cost. It is the intent of the CITY,that all or a portion of the costs of this project will be paid or reimbursed from National Highway Freight Program funds awarded to the CITY.This provision in no way constitutes an obligation of the CITY to use any particular funding or to confer a contractual or other right to demand that any particular funding be used. 6. The CITY will make payments after acceptance by the CITY of the milestones described above. All billings in excess of estimated costs are subject to verification and acceptance. Excess billings based upon or caused by COMPANY's deviation from the approved plans,specifications and estimates made without the prior written approval by CITY, may not be accepted. Notwithstanding written approval of changes to the approved plans,specifications and estimates as provided,any billings in excess of the estimated costs shown in Section 4 are subject to a change authorization approval and shall not be deemed accepted until approved by the CITY. As provided by the Illinois State Prompt Payment Act,30 ILCS 540,and the rules adopted in accordance with the Act,the date of acceptance shall be considered to be the date of the change authorization approval. 7. The CITY, upon acceptance of the final bill (to be submitted in sets of four) and verification of the completion of the work,shall pay to the COMPANY 100%of the amount agreed upon as CITY liability in Section 4 above less any previous partial payments. 8. This Agreement is subject to audit by the STATE. In the event of an audit,the final costs between the COMPANY and CITY shall be based upon the audit findings. Prior to the completion of the audit,the payment obligation of the CITY shall be limited to the estimated cost stated in this Agreement plus those additional costs approved in a change authorization. In cases where a change authorization is not processed, and final payment will be made based on the final audit,the CITY will pay up to the dollar amount stated in the Agreement. If the audit reveals that the COMPANY owes the CITY money,the CITY will issue an accounts receivable invoice to recover the audit findings. However,if the CITY owes Page 2 of 6