Agmt21 Ace Parking, Inc. - Laserfiche WebLink

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approved budget (Exhibit "B") and necessary circumstances, and reasonable for the performance by Contactor of its duties and obligations under this Agreement. F. Non -Reimbursable Expenses Reimbursable Operating Expenses shall not include any payments to affiliates of Contractor exceeding amounts that would have been paid to a third party in an arms' length transaction, nor shall reimbursable Operating Expenses include any of Operator's general overhead expense, including but not limited to: a. Administrative, supervisory or related costs and expenses incurred in the general management or operation of the affairs of the Parking Facilities and/or Operator's other operations; b. Costs of maintaining the general books and records of Operator, or the cost of any audit payable by Operator; c. Postal and travel expenses, except for travel expenses as identified in the budget (Exhibit "B") and postage costs associated with the mailing of invoices to the Parking Facilities' validation customers; or d. The cost of any off-site managers, supervisors or other managerial or administrative personnel of Contractor who are not directly employed at the Parking Facilities. G. Monthly Payment a. Contractor shall keep complete accounts of parking revenues, receipts, expenses, copies of daily sales reports, deposit slips and disbursements, and shall furnish City on or before the 20th day of each month a statement of such revenues and expenses for the preceding month. b. Contractor, at City's direction and as City's agent, shall pay to City on or before the 20th day of each month during the term of this Agreement all parking revenues, if any, for the preceding month c. City shall pay to Contractor the sum of all Operating Expenses and Consultant Fees within thirty (30) days of the above accounting for the month. City will pay any undisputed amounts consistent with this provision within 30 days. Any disputed amount shall be communicated in writing as justification for withholding full payment. d. It is the City's intent to pay Contractor on a timely basis. In the event that the City does not reimburse Contractor, any undisputed amounts within the time required herein and Contractor gives notice to City of outstanding undisputed amounts due, City shall pay Contractor a five (5%) percent late payment fee on such amounts. REV: 12-10-2020 RL ATTY/AGR.2020.291/ACE Parking (Page 18 of 31)