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P. TIMELINESS. The Parties recognize and agree that time is of the essence of this Agreement as is <br /> consistent with the applicable professional standard of care. <br /> SECTION V. PAYMENT <br /> A. BASIS OF BILLING. City shall pay the Consulting Engineer for all services rendered under <br /> Section II Phases A through F on a Time&Expense basis,not to exceed the amounts indicated in <br /> Exhibit A—Scope of Work. Consulting Engineer shall invoice for work completed using the <br /> hourly rate schedule included in Exhibit H. <br /> Hourly rates used as a basis for payment means salaries and wages(basic and incentive)paid to <br /> all personnel engaged directly on the Project, including but not limited to, engineers, architects, <br /> surveyors,designers,draftsmen,specification writers, estimators, other technical personnel, <br /> stenographers,typists and clerks; but does not include indirect payroll related costs or fringe <br /> benefits. For the purposes of this Agreement,the principals and employees of the Consulting <br /> Engineer and their hourly direct labor costs are set forth in Exhibit H hereto. <br /> B. SUBCONSULTANT. The City shall pay the Consulting Engineer for services and <br /> reimbursable expenses of subconsultants engaged by the Consulting Engineer with the approval <br /> of the City's Representative, the amount billed by the Subconsultant to the Consulting Engineer <br /> times an approved multiplier of 1.1 <br /> C. REIMBURSABLE EXPENSES. In addition to payments provided for in paragraphs A and B <br /> of this Section,the City shall pay the Consulting Engineer the actual costs of all Reimbursable <br /> Expenses incurred in connection with all Basic and Additional Services. Reimbursable Expenses <br /> means the actual expenses incurred directly in connection with the Project for transportation costs <br /> on the basis of actual cost if public transportation is used, subsistence incidental thereto,toll <br /> telephone calls, reproduction of reports, drawings, specifications and similar project-related items <br /> in addition to those required under Section H. <br /> If the Consulting Engineer's vehicles are used on the project, the City shall pay the Consulting <br /> Engineer the current Internal Revenue Service standard mileage rate per mile for use of the <br /> vehicle. <br /> D. PAYMENT FOR WORK COMPLETED <br /> 1. Monthly Progress Payments. Monthly progress payments may be requested by the Consulting <br /> Engineer for work satisfactorily completed and shall be made by the City to the Consulting <br /> Engineer as soon as practicable upon submission of statements requesting payment by the <br /> Consulting Engineer to the City. Each statement shall be accompanied by an Invoice Data Sheet <br /> as shown in Exhibit I. If the Consulting Engineer prefers,the Invoice Data sheet may serve as the <br /> Consulting Engineer's invoice. <br /> 2. Monthly Progress Reports. 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 /> 10 <br /> Last Revised:2!03/2022 <br />