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<br />The consultant shall bill BELMONT and REDWOOD CITY respectively for one-half the <br /> <br />invoice amount on a monthly basis during the term of the Project. Payment shall be <br /> <br />made by BELMONT and REDWOOD CITY within thirty (30) days of each billing. At <br /> <br />the completion of the Project, a review of all costs shall be done to determine if <br /> <br />REDWOOD CITY has paid the amount equal to the actual costs of design work for the <br /> <br />Interchange Improvements portion of the Project. If additional amounts or refunds are <br /> <br />due, said payments or refunds shall be tendered within thirty (30) of the completion ofthe <br /> <br />Project review. The parties agree that the final costs are not to exceed the foregoing <br /> <br />estimated amount. <br /> <br />4. <br /> <br />PERFORMANCE. Upon execution hereof by REDWOOD CITY, BELMONT <br /> <br />shall proceed, by and through its Consultant, with the Project. <br /> <br />5. <br /> <br />HOLD HARMLESS. <br /> <br />To the extent permitted by law, each party (as <br /> <br />"Indemnitor") shall indemnify, defend and hold the other party (as "Indemnitee") <br /> <br />harmless from and against any and all claims, demands and causes of action by third <br /> <br />parties for personal injuries (including loss oflife) or property damages (including loss of <br /> <br />use thereof) arising out of the Project and resulting from the negligent act or omissions of <br /> <br />Indemnitor, its officers, employees, or agents. <br /> <br />6. <br /> <br />GOVERNING LAW. This Agreement shall be governed by the laws of the State <br /> <br />of California and any suit or action initiated by either party shall be brought in the County <br /> <br />of San Mateo, California. <br /> <br />7. <br /> <br />PARAGRAPH HEADINGS. Paragraph headings as used herein for convenience <br /> <br />only, and shall not be deemed to alter or amend the provisions of the paragraphs headed <br /> <br />thereby- <br />