Agmt08 Bradford Parcels - Laserfiche WebLink

Browse Search

Redwood City Redevelopment Agency OTSC Agreement No. 07-T3454 Exhibit B Page 1 of 2 (Reimbursement Agreement) BUDGET DETAIL AND PAYMENT PROVISIONS: A. Applicant agrees to advance to the Department of Toxic Substances Control (DTSC) an amount of money based upon DTSC's estimate of the costs it may incur in performing its duties under this Agreement. The amount of the advance is based upon DTSC's costs of services for six months, or for the entire amount of the Agreement, if less than six months. The cost estimate is attached and incorporated by this reference and is included as the Budget for this Agreement. B. DTSC's cost estimate shall include all of its costs, both direct and indirect. The hourly rates utilized in the development of any cost estimate shall reflect DTSC's current hourly rates. These hourly rates are updated as needed to allow DTSC to recover its costs. Applicant is responsible for any increases in the direct and indirect rates and agrees to reimburse DTSC for these cost increases. The Applicant agrees to reimburse DTSC for all costs incurred by DTSC. C. Upon execution of this Agreement, Applicant shall remit to DTSC an amount not less than $9,044.00 as advance funding for work to be performed by DTSC. The total amount of this Agreement is $18,089.00. Applicant shall submit all payments to: Department of Toxic Substances Control Accounting 1001 I Street, 21st Floor P.O. Box 806 Sacramento, California 95812-0806 Attention: Ms. Karen Poon D. Copies of checks and letters transmitting such checks shall be sent simultaneously to DTSC's Project Manager. E. The advance payment shall be retained in the Applicant's Account. DTSC shall bill the Applicant with quarterly invoices which contain an accounting and supporting documentation of all expenditures during the previous quarter. Once work is completed, final invoices will be provided to the Applicant as soon as possible, generally within 60 days of the close of the quarterly billing cycle following completion of the work. The Applicant shall remit the total amount due within thirty (30) days of the date of the quarterly invoice. DTSC shall hold the advance payment until the Agreement is completed or terminated. Any remaining charges shall then be applied against the advance, and any unused advance payment will be refunded within 120 days of the completion of the project. F. If the Applicant cancels the Agreement, Applicant agrees to pay DTSC a minimum fee of $1,000 out of the advance, regardless of the amount of work or services performed by DTSC under the terms of the Agreement. If DTSC incurs more than $1,000.00, Applicant will be responsible for the actual direct and indirect costs incurred or encumbered by DTSC up to the date "Notice of Cancellation" is received by DTSC, without any additional fee.