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5. Upon receipt of a properly invoiced payment request,the City shall pay the amount due less any <br /> amounts allowed to be retained or withheld by the City under this Agreement within 60 days of <br /> receipt of the invoice. <br /> 6. Upon satisfactory completion of the work performed hereunder and prior to final payment under <br /> this Agreement, and as a condition precedent thereto,the Professional Service Provider shall <br /> execute and deliver to the City's Representative a release of all claims against the City arising <br /> under or by virtue of this Agreement. <br /> 7. The Professional Service Provider and City hereby expressly acknowledge and agree that the <br /> Local Government Prompt Payment Act does not apply to this Agreement. <br /> E. In the event of termination by City under Section IV.E upon the completion of any phase of the Basic <br /> Services,progress payments due to the Professional Service Provider for services rendered through <br /> such phase shall constitute total payment for such services. In the event of such termination by City <br /> during any phase of the Basic Services,Professional Service Provider also will be reimbursed for the <br /> charges of independent professional associates and consultants employed by Professional Service <br /> Provider to render Basic Services,and paid for services rendered during that phase on the basis of <br /> Professional Service Provider'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 Professional Service <br /> Provider's principals and employees engaged directly on the Project. In the event of any such <br /> termination,Professional Service Provider will be paid for all unpaid Additional Services rendered to <br /> date and unpaid Reimbursable Expenses that may have accrued to date. <br /> This Agreement is made between the City and the Professional Service Provider entered into on the last <br /> date written below. In ' ss,the parties have executed this Agreement. <br /> DATED thi/��day 2011 <br /> 0 THE O EC TUR ILLIN <br /> e <br /> By: <br /> Mayor <br /> City Clerk , <br /> Professional Service Provider Firm <br /> By. i �t Sls'bU , <br /> 8 <br />