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<br />( <br /> <br />) <br /> <br />per month as specified in <br /> <br />Supplier's bid dated <br /> <br />aforementioned. Periodic services shall be <br /> <br />performed at the request of the City and shall be compensated in the sums specified for <br /> <br />said periodic services in the Supplier's bid. , <br /> <br />Påyments of amounts due hereunder shall be made by City within thirty (30) <br /> <br />days following acceptance by the City of supplier's services and receipt by City of <br /> <br />Supplier's invoice or statement therefore. <br /> <br />3. <br /> <br />TERM. The term of this Agreement shall commence upon the date first <br /> <br />hereinabove written and shall expire <br /> <br />,2000; provided however that upon <br /> <br />written agreement of the parties hereto, approved and executed by the Director of <br /> <br />Parks, Recreation and Community Services on behalf of the City, the terms of this <br /> <br />agreement may be extended for additional periods of one year each (commencing <br /> <br />, 2000) up to four (4) extensions. <br /> <br />At the commencement of each extension, Supplier and City will, in good faith, <br /> <br />negotiate the adjustment to the Agreement price based on the percentage increase or <br /> <br />decrease in the straight time hourly labor cost for elevator examiners in San Mateo <br /> <br />County. For the purpose of this Agreement, straight time hourly cost shall mean the <br /> <br />straight time hourly rate paid to elevator examiners plus fringe benefits and union <br /> <br />welfare granted in lieu of, or in addition to hourly rate increases. <br /> <br />Fringe benefits <br /> <br />-" <br /> <br />include, but are not limited to, pension, vacation, paid holidays, group life insurance, <br /> <br />sickness and accident insurànce, and hospitalization insurance. <br /> <br />4. INSURANCE. General. The Contractor shall not commence any work until <br /> <br />he obtains, at his own expense, all required insurance. Such insurance shall have the <br />2 <br /> <br />Agmt-319 <br />FXS:djk <br />F: Shared/Red wood/Council <br />01/04/2000 <br />01118/00 <br />