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EXHIBIT "B" Payment Terms City shall pay to Consultant an amount not to exceed Thirty-Eight Thousand Five Hundred Dollars ($38,500) as delineated below: Water rate study and impact fee evaluation $38,000 Direct expenses $500 Progress payments and direct expenses are payable monthly on a time and materials basis as the work proceeds as provided in Consultant's Billing Rate Schedule 2015, which will remain in effect for the duration of this project. BARTLE WELLS ASSOCIATES BILLING RATE SCHEDULE 2015 Rates Effective 1/1/2015 Professional Services Financial Analyst I $95 per hour Financial Analyst II $135 per hour Senior Financial Analyst $165 per hour Senior Consultant $195 per hour Principal Consultant $235 per hour The professional time rates include all overhead and indirect costs. Bartle Wells Associates does not charge for secretarial support services and internal computer time. Expert witness, legal testimony or other special limited assignment will be billed at one and one-half times the consultant's hourly rate. The above rates will be in effect through the duration of this project. Direct Expenses Subconsultants will be billed at cost plus ten percent. Word processing and computer-assisted services related to official statement production are charged as direct expenses at $60 per hour. Other reimbursable direct expenses incurred on behalf of the agency will be billed at cost plus ten percent. These reimbursable costs include, but are not limited to: 1. Travel, meals, lodging 2. Long distance telephone and fax 3. Printing and report binding 4. Special statistical analysis 5. Outside computer services 6. Bond ratings 7. Automobile mileage 8. Legal advertisements 9. Messenger services and mailing costs 10. Photocopying 11. Graphic design and photography 12. Special legal services ATTY/AGR/2016.062/BARTLE WELLS ASSOCIATES REV: 03-28-16 FF Page 12 of 12