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Taufalele, Maintenance Worker 2; Tell Tau, Maintenance Worker 2; and Xavier Mercado, Utilities Field Supervisor 4. Purchase Price. The aggregate amount of purchases under this Purchase Agreement shall not exceed One Hundred Twenty -Five Thousand Dollars ($125,000). The purchase price for the Goods shall be on a cost per material basis, as delineated in Exhibit A. Vendor represents that the prices quoted to or paid by the City will not exceed current prices charged to any other customer by the Vendor on the Effective Date for items that are the same or substantially similar to the Goods, taking into consideration the quantity under consideration, and the Vendor will forthwith refund any amounts paid by the City in excess of the price. The prices in Exhibit A will remain firm for one year following the Effective Date of this Agreement. 5. Estimated Quantitv. The City does not guarantee, nor agrees to purchase a minimum quantity of Goods. 6. Delivery Risk of Loss. All orders will be F.O.B. Peninsula Road Materials, 365 Blomquist Street, Redwood City, California, if not otherwise specified. Risk of loss damage to the Goods must remain with the Vendor until the Goods have been delivered to and accepted by the City. All Goods will be received by the City subject to its right of inspection, rejection, and revocation of acceptance under the Uniform Commercial Code. The City will be allowed a reasonable period of time to inspect the Goods and to notify Vendor of any nonconformance with the terms and conditions of the specifications. The City may reject any Goods that do not conform to the terms and conditions of the Bid Documents. Any Goods rejected may be returned to the Vendor at the Vendor's risk and expense. 7. Term. The term of this Purchase Agreement will be for a one (1) year period from the Effective Date of the Purchase Agreement. The Purchase Agreement may be extended by the City for up to three (3) additional consecutive one-year terms, at the discretion and approval of the City. The City shall notify the Vendor, in writing, of its intent to extend the Purchase Agreement. 8. Cancellation and Termination. The City reserves the right to terminate or cancel any portion of this Purchase Agreement at any time, with or without cause, by giving Vendor written notice. There shall be no period of grace after giving the notice of cancellation or termination. Cancellation or termination shall become effective immediately upon giving the notice by personal delivery or mail. In the event of breach of the Purchase Agreement by Vendor, City may terminate the Purchase Agreement immediately without notice, may reduce payment to the Vendor in the amount necessary to offset City's resulting damages, may procure substitute Goods at Vendor's expense, and/or may pursue any other available recourse against Vendor. Vendor may not terminate this Purchase Agreement except for cause. Upon termination of this Purchase Agreement by City for any reason, City may require Vendor to provide all finished or unfinished goods, materials or other matter prepared or built by Vendor in connection with its performance of this Purchase Agreement. If this Agreement is REV: 06-29-18 MI Page 2 of 8 ATTY/AGR.2018.150/Graniterock Company