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2. Monthly Progressports. The Consulting Engineer shall prepare a monthly progress report <br /> indicating the amount of work completed based on the approved scope of work and any approved <br /> addendums. The Consulting Engineer shall also prepare a progress chart showing the upper limit <br /> of compensation approved by the contract,the planned time of completion,the estimated <br /> completion to date,the percentage of the approved contract amount earned,the percentage of <br /> elapsed time,and the currently forecasted amount of work required to complete the project. The <br /> Consulting Engineer may use an electronic spreadsheet template prepared by the City's <br /> Representative to prepare the progress chart. <br /> 3. Maximum Payment Requests.No payment request made pursuant to subparagraph 1 of this <br /> Section V shall exceed the estimated maximum total amount and value of the total work and <br /> services to be performed by the Consulting Engineer under this Agreement for that phase or <br /> additional service without the prior authorization of the City's Representative. These estimates <br /> have been prepared by the Consulting Engineer and supplemented or accompanied by such <br /> supporting data as may be required by the City's Representative. <br /> 4. Time and Manner of Payments.Upon receipt of a properly invoiced payment request,the City <br /> shall pay the amount due less any amounts allowed to be retained or withheld by the City under <br /> this Agreement within 60 days of receipt of the invoice. <br /> 5. Release of Claims. Upon satisfactory completion of the work performed hereunder and prior to <br /> final payment under this Agreement,and as a condition precedent thereto,the Consulting <br /> Engineer shall execute and deliver to the City's Representative a release of all claims against the <br /> City arising under or by virtue of this Agreement. <br /> 6. Local Government Prompt Payment Act. The Consulting Engineer and City hereby expressly <br /> acknowledge and agree that the Local Government Prompt Payment Act does not apply to this <br /> Agreement. <br /> E. PAYMENT UPON TERMINATION. In the event of termination by City under Section IV.E upon <br /> the completion of any phase of the Basic Services,progress payments due to the Consulting Engineer <br /> for services rendered through such phase shall constitute total payment for such services. In the event <br /> of such termination by City during any phase of the Basic Services, Consulting Engineer also will be <br /> reimbursed for the charges of independent professional associates and consultants employed by <br /> Consulting Engineer to render Basic Services,and paid for services rendered during that phase on the <br /> basis of Consulting Engineer's Direct Labor Costs times a factor defined in Section V.A.of this <br /> Agreement for services rendered during that phase to date of termination by Consulting Engineer's <br /> principals and employees engaged directly on the Project. In the event of any such termination, <br /> Consulting Engineer will be paid for all unpaid Additional Services rendered to date and unpaid <br /> Reimbursable Expenses that may have accrued to date. <br /> 10 <br /> Last Revised:2/03/2022 <br />