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expenses attributable to the administration of Consultant Contracts entered into by City under <br />this Agreement. <br />(b) On 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. Everereen 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 for 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 form 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, consideration, 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 />(e) Upon termination of this Agreement, City shall have a reasonable time to <br />seek and receive from Developer all remaining and outstanding reimbursements to which it is <br />REV: 03-1417 PR <br />Page 3 of 8 <br />ATTY/AGR.2017.050lLaunchpad Development Company <br />