Agmt00 Belmont, City of - Laserfiche WebLink

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shall be paid for by BELMONT. It is estimated that REDWOOD CITY'S pro-rata share of the costs of the Project will be 50% of the contract price shown in Exhibit A. BELMONT shall bill REDWOOD CITY on a monthly basis during the tenn of the Project. Payment shall be made by REDWOOD CITY within thirty (30) days of each billing. At the completion of the Project, a review of all costs shall be done to detennine if REDWOOD CITY has paid the amount equal to the actual costs of design work for the Interchange Improvements portion of the Project. If additional amounts or refunds are due, said payments or refunds shall be tendered within thirty (30) of the completion of the Project review. The parties agree that the final costs are not to exceed the foregoing estimated amount. 4. PERFORMANCE. Upon execution hereof by REDWOOD CITY, BELMONT shall proceed, by and through its Consultant, with the Project. 5. HOLD HARMLESS. To the extent pennitted by law, each party (as "Indemnitor") shall indemnify, defend and hold the other party (as "Indemnitee") hannless from and against any and all claims, demands and causes of action by third parties for personal injuries (including loss of life) or property damages (including loss of use thereof) arising out of the Project and resulting from the negligent act or omissions of Indemnitor, its officers, employees, or agents. 6. GOVERNING LAW. This Agreement shall be governed by the laws of the State of California and any suit or action initiated by either party shall be brought in the County of San Mateo, California. 7. PARAGRAPH HEADINGS. Paragraph headings as used herein for convenience only, and shall not be deemed to alter or amend the provisions of the paragraphs headed thereby. 3