Laserfiche WebLink
<br />Exhibit A: <br />Exhibit B: <br />Exhibit C: <br /> <br />Program Services <br />Method of Payment <br />Restrictions for Affordable Housing <br /> <br />NOW, THEREFORE, IT IS HEREBY AGREED BY THE PARTIES <br />HERETO AS FOLLOWS: <br /> <br />1. <br /> <br />SERVICES TO BE PERFORMED <br /> <br />Contractor, under the general direction of the Housing Coordinator or her <br />authorized representative, shall perform services as described in Exhibit A in <br />consideration of the payments hereinafter set forth in Exhibit B. <br /> <br />2. <br /> <br />PAYMENTS <br /> <br />A. <br /> <br />B. <br /> <br />3. <br /> <br />Maximum Amount. In full consideration of Contractor's <br />Performance of the services described in Exhibit A, the amount that <br />the City shall be obligated to pay under this Agreement shall not <br />exceed Seven Hundred Forty Eight Thousand, Four Hundred <br />Ninety Three and 67/100 Dollars ($748,493.67). <br /> <br />Rate of Payment. The rate and terms of payment shall be as <br />Specified in Exhibit B. Any change is subject to the approval of the <br />Housing Coordinator or her authorized representative, and shall not <br />be binding on City unless so approved in writing. In no event may <br />the terms of payment be changed to the extent that the maximum <br />City obligation shall exceed the total specified in Paragraph 2A <br />above. Each payment shall be conditioned on the performance of <br />the services described in Exhibit A to the full satisfaction of the <br />Housing Coordinator or his representative. <br /> <br />c. <br /> <br />Time Limit for Submittina Invoices. Contractor shall submit a <br />Disclosure of Estimated Fees from First American Title Company to <br />City for payment in accordance with the provisions of Exhibit A. <br />City shall deposit $748,493.67 into escrow account no later than <br />three days prior to close of Escrow. City and Agency shall not be <br />obligated to pay Contractor for the services covered by any invoice <br />if Contractor presents the invoice to City more than one-hundred <br />twenty (120) days after the date services were rendered, or more <br />that ninety (90) days after this Agreement terminates, whichever is <br />earlier. <br /> <br />RELATIONSHIP OF PARTIES <br /> <br />It is expressly understood that this is an agreement between two (2) <br />independent contractors and that no agency, employee, partnership, joint <br /> <br />1:2006 STAFF REPORTS/04-2006/ACTION PLAN ADOPT/Cedar St Acquisition <br /> <br />2 <br /> <br />c_.-ccoc__cccc._oo....-......---_c.--- .0_.._'.-.'-.."'---'-----' <br />