Agmt21 William Euphrat Municipal Finance, Inc.

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below. Consultant will only be compensated for work performed under an authorized task order. 2. Standard of Performance. While performing the Services, Consultant will exercise the reasonable professional care and skill customarily exercised by reputable members of Consultant's profession practicing in the urban Northern California Area. Consultant will also use reasonable diligence and best judgment while exercising its professional skill and expertise. 3. Term. Unless terminated earlier pursuant to Section 21, the term of this Agreement will be for a period of two (2) years from the Effective Date. The foregoing notwithstanding, continuation of the Agreement beyond the first year of the term is contingent upon the City Council appropriating necessary funds for this Agreement. The City Manager may amend the Agreement to extend it for three (3) additional one-month periods in an amount not to exceed Three Thousand Dollars ($3,000) per extension term. Any extension will require a written amendment executed by both parties indicating the effective date and length of the extended Agreement. 4. Schedule. Consultant will adhere to the schedule set forth in Exhibit A, provided, that City, in its discretion, may grant reasonable extensions when performance of the Services is delayed due to unusually lengthy governmental reviews or other unexpected, unavoidable circumstances. Such circumstances will not include strikes, lockouts, work stoppages, or other labor disturbances conducted by, or on behalf of, Consultant's officers or employees. 5. Time is of the Essence. Time is of the essence for each and every provision of this Agreement. 6. Compensation. City will pay to Consultant a not -to -exceed amount of Thirty Thousand Dollars ($30,000) for the completion of all the work and services described herein, which sum will include all costs or expenses incurred by Consultant, payable as set forth in Exhibit A. City will have the authority to withhold a 10% retention until it has accepted all of the Services as complete. 6.1. An application for payment form must be submitted to City which shall include the following: a clear, detailed invoice reflecting work being billed for, a summary sheet showing hourly rates, hours worked, percentage of work completed to date, amount percent billed to date and current status of all tasks within a project; any/all backup documentation supporting the above items. Work schedule updates must also be included with the payment requests. 6.2. Consultant shall maintain adequate records and shall permit inspection and audit by City of Consultant's charges under this Agreement. Consultant shall make such records available to City during normal business hours upon reasonable notice. Nothing herein shall convert such records into public records, and they will be available only to City and any specified public agencies. Such records shall be maintained by Consultant REV: 12-10-2020 EI ATTY/AGR.2020.292/William Euphrat Municipal Finance, Inc. (Page 2 of 16)