R2001-234 APPROPRIATING FUNDS FOR AGREEMENT

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• ' 3 notice. The bill shall be accompanied by a voucher from the material supplier indicaiing payme� by the COMPANY. Payment under this paragraph shall not be claimed for any bill tataling less than$500. In the event the COMPANY fails to install the stored material within an 18-month period subsequent to payment to the COMPANY, the COMPANY shall promptly deliver the stored material to ihe CTI'Y at a location indicated in a written notice to the COMPANY. Upon delivery,the CTI'Y shall then take possession of said material for the CTTY'S own use. The delivery of the material to the CTTY shall in no way serve to terniina.te this agreement or affect the other provisions of this agre�mern and in addition shall not affect the COMPANY'S right to claim payment for stockpiled material to replace that taken by the CITY. SECTION 6. The COMPANY, for performance of its work as herein specified, ma.y bill the CTTY monthly(in sets of two) for the CTTY'S 100%share of its e!�cpenses as incurred. These progressive invoices may be rendered on the basis of the estimated percentage of the work completed, plus allowable additives. The CTTY, after verifying that the bills are reasonable and proper, shall promptly reimburse the COMPANY for 95%of the amount billed. Payment under this paragraph sha11 not be claimed for any bill totaling less than$500. The COMPANY, upon completion of its work, shall promptly render to the CITY a detailed final statemern (in sets of two) of its act�al e�cpenses as incurred. After the CITY has checked the final statement and agreed with the COMPANY that the costs are reasonable and properly set up, insofar as they are able to ascertain, the CITY shall then reimburse the COMPANY an amount, less previous payments, if any, equal to 95%of the amourrt billed. After the CITY has audited the e�cpenses as incurred by the COMPANY and final inspection of the installation has been made, the CITY shall reimburse the COMPANY for the retained amoums less the deduction of any item (or items) of e�cpense found as not being eligible for reimbursemern.