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retained by City to provide services to City regarding the Project including the current scope and <br /> budget for such Consultant. Developer agrees that City will charge actual staff time and <br /> expenses attributable to the administration of Consultant Contracts entered into by City under <br /> this Agreement. <br /> (b) �n a monthly basis, City will provide to Developer a summary report on <br /> the fees incurred by City's team of Consultants and City staff, the percentage of the deposit that <br /> has been expended by City on its evaluation of the Project, and the amount remaining available <br /> for billing. <br /> Section 4.02. Ever�reen Deposit. <br /> (a) City shall establish and Developer shall fund a deposit account designed to <br /> ensure that City is never required to perform work far which reimbursement funds have not been <br /> previously deposited ("Evergreen Deposit"). The Evergreen Deposit shall contain funds <br /> necessary to cover three months' worth of budgeted expenditures by City relating to City's <br /> review, evaluation, consideration, and processing of the Project (including any CEQA review <br /> necessary for such review, evaluation, consideration, and processing). Developer shall fund the <br /> Evergreen Deposit initially by depositing with City on or before the Effective Date the sum of <br /> FIFTY THOUSAND DOLLARS ($50,000) in the farm of a cashier's check. Developer shall <br /> replenish the Evergreen Deposit on a monthly basis until termination of this Agreement pursuant <br /> to Section 2.02 or Section 5.03 or as long as expenditures made by CiTy relating to City's review, <br /> evaluation, consideration, and processing of Developer's proposal for the Project remain <br /> unreimbursed,whichever is later. Beginning on the Effective Date,Developer shall replenish the <br /> Evergreen Deposit by depositing on or before the last day of each month the full amount of all <br /> invoices delivered by City to Developer within the previous month. Thus, for example, on or <br /> before March 1, 2015, Developer would replenish the Evergreen Deposit by depositing the sum <br /> of all invoices submitted by City to Developer during the month of February,2015. <br /> (b) In the event City determines that total invoices for any particular three- <br /> month period are likely to exceed $50,000, City may request that Developer increase the total <br /> funds available in the Evergreen Deposit accordingly. If Developer does not agree to increase <br /> the deposited amount, City may adjust its work schedule, including through the adjustment of <br /> project deadlines, so as not to exceed the amount available in the Evergreen Deposit. <br /> (c) The Parties acknowledge that deposits to the Evergreen Deposit are not a <br /> "source of income" within the meaning of the California Political Reform Act (pursuant to <br /> California Government Code Section 87103.6). <br /> (d) In no event shall City or its Consultants be obligated to perform any work <br /> in connection with Developer's proposal for the Project, including but not limited to City review, <br /> evaluation, considera.tion, processing of Developer's proposal, where: (1) Developer is <br /> delinquent in the initial funding of, or any required replenishment of, the Evergreen Deposit <br /> required by Subsections 4.02(a) & (b), above; (2) the actual costs associated with City staff time <br /> and/or Consultant work has exceeded the amount being held by City in the Evergreen Deposit to <br /> cover such costs; or(3)Developer is otherwise in breach of this Agreement in any respect. <br /> Page 3 of 8 <br /> REV:09-25-15 VR <br /> ATTY/AGR.2015.221lAcclaim Companies <br />