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lockouts, work stoppages, or other labor disturbances conducted by, or on behalf of, Contractor's officers or employees. 5. Time is of the Essence. City and Contractor agree that time is of the essence for each and every provision of this Agreement. 6. Compensation. City will pay to Contractor a not -to -exceed amount of Seventy - Five Thousand Dollars ($75,000) for the completion of all the work and services described herein, which sum will include all costs or expenses incurred by Contractor, 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 Contractor must submit applications for payment that contain the following: 6.1.1. A clear, detailed invoice reflecting Services for which Contractor is billing City; 6.1.2. A summary sheet showing hourly rates (if applicable); 6.1.3. Number of hours worked; 6.1.4. Percentage of Services completed to date; 6.1.5. Amount/percent billed to date; 6.1.6. Current status of all tasks within a project; 6.1.7. Any backup documentation reasonably necessary to substantiate the preceding items; and 6.1.8. Any changes to the anticipated work schedule. 6.2. The payment made to Contractor pursuant to the Agreement will be the full and complete compensation to which Contractor is entitled. City will not make any federal or state tax withholdings on behalf of Contractor or its officers, agents, employees, Contractors, or subcontractors (collectively, "Contractor Personnel"). City will not be required to pay any workers' compensation insurance or unemployment contributions on behalf of Contractor or any Contractor Personnel. Contractor agrees to reimburse City within thirty (30) days for any tax, retirement contribution, social security, overtime payment, unemployment payment or workers' compensation payment which City makes on behalf of Contractor or any Contractor Personnel for work done under this Agreement. At the City's election, City may deduct the reimbursable amount from any balance owing to Contractor. REV: 08-16-2021 RL ATTY/AGR.2021.215/ASSETWORKS, LLC (Page 2 of 15)