R2001-169 AUTHORIZING THE EXECUTION OF AN AGREEMENT

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The insurance company(ies)providing coverage shall have a rating by AM Best of at least A- and VI. Contractor may purchase a combination of primary policies at lower limits with the remaining limits provided for by an umbrella. � THE CITY AGREES, 1. Payment for a11 services for Items la through li, rendered under the terms of this , AGREEMENT shall be on a time and expense basis to be computed at the technical payroll ' cost to the ENGINEER times a multiplier of 2.1. Technical payroll cost is defined as the ' direct productive salary cost for time directly chargeable to the project, plus fringe benefits I and payroll burden (includes sick leave, vacation and holiday pay, unemployment taxes, I contribution for social security,workmen's compensation, insurance, retirement benefits and medical insurance benefits). Reimbursement of expenses and costs incurred specifically in , fulfilling the terms of this AGREEMENT such as, but not limited to, outside professional I, seivices, stakes, blueprints, supplies, toll calls, transportation and subsistence shall be at the '� actual cost plus five(5) percent. The aggregate of all charges for the above work shall not exceed a maximum amount of$19,000.00. 2. The ENGINEER may submit monthly or periodic statements requesting payment. Such statements shall be based upon the amount and value of the services provided and expenses incurred by ENGINEER to the date of the statement and shall be supplemented or accompanied by such supporting data as may be required by CITY. IT IS MUTUALLY AGREED, l. It shall be the ENGINEER's responsibility, when total monies due the ENGINEER as reimbursement for actual costs approach a point near 50% of the upper limit of reimbursable actual costs specified above,to review the work accomplished and make an estimate showing costs incuned and costs of services still required of the ENGINEER to complete his obligation. He shall do the same prior to when the costs incuned reach 90% of upper limit of reimbursable actual costs. If any of these estimates exceed the upper limit of reimbursable actual costs,the ENGINEER shall immediately submit the estimate to the CIT'Y. The CTTY shall review the estimate and promptly direct the ENGINEER to: a. Stop work at a logical point when monies due the ENGINEER are within the upper limit of reimbursable actual costs, or b. Continue work under the terms of the AGREEMENT up to an adjusted upper limit of reimbursable actual costs as authorized in writing by the CITY. The ENGINEER will make no claim for payment in excess of the original upper limit of reimbursable actual costs without having received such written authorization prior to incurring the excess costs. BGM 01-076 Page 3 of 5