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Section 2. Billing and Payment. Contractor shall submit progress billings upon delivery of each of the project milestones. Payment of the milestone progress billings will be due upon the City's acceptance of each of the following Project Milestones: (i) 20% upon receipt of Notice to Proceed from City (Milestone 1 ); (ii) 35% upon delivery and installation of all single space meter hardware and data management system (Milestone 2); (iii) 35% upon delivery and installation of all multi space meter hardware and data management system (Milestone 3); (iv) 10% upon final acceptance by City of the completed parking system provided by the Contractor (Milestone 4). Section 3. Delivery and Installation. IPS will deliver, complete installation of all pay stations and single space meters, and have a fully operational back-end data management system (milestones 1 through 3) no later than 90 days from contract award . Section 4. Additional Reimbursable Costs Ongoing Data and Service Costs IPS Group Inc. may pass through their credit card processing fee, data management fee, and pay by cell data fees; per the cost breakdowns below, to be invoiced monthly by IPS to the City. IPS will provide a BEST RATE GUARANTEE. Upon written request by the City, IPS will move Redwood City to the least-cost plan shown below at no additional cost if another fee structure offered would be more beneficial to the City. MS1 Multi-S • ace Pa Station Ongoing Meter Data & Management System Fees Fee Type Option 1 Option 2 Secure Wireless Gateway/Data Fee and Meter Management System $55.00 $25.00 Software License Fee Secure Credit Card Payment Gateway Fee Included* $0. 13 (per transaction) Note: *Option 1 is currently unavailable for off-street pay stations REV: 05-05-16 JS Page 172 of 177 ATTY/AGR.2016.094/IPS Group