3B Public Hearing 2008 0915 - Laserfiche WebLink

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Siemens. The City will make progress payments to Siemens in accordance with applicable law in the amount shown in Exhibit B-1 for the value of the Work actually performed and the material incorporated in the Work as specified in Siemens' verified application for payment upon approval by the City's authorized representative(s). Payment of progress payments will not be construed as acceptance of the Work performed. 4.2.1 Final Payment Exhibit A-1. City shall pay the final payment per Exhibit B-1 (Table B-1) pursuant to this Agreement within sixty (60) days after completion of the services and submittal to City of a final invoice following Acceptance of the Work provided that: (a) Siemens has furnished evidence satisfactory to the City that all claims for labor and material have been paid, or the time for filing valid stop notices has passed and no stop notices have been filed, or all stop notices filed have been released by valid release or release bond acceptable to the City; (b) No claim has been presented to the City by any person based upon any acts or omissions of Siemens or any subcontractor engaged in the performance of the Work; (c) No other claim or dispute exists under the Agreement or applicable law concerning payment of Siemens final invoice and/or release of the Agreement retention; 4.2.2 Payments Exhibits A-2 and A-3. City shall pay for services provided under Exhibit A-2 and A-3 on an annual basis pursuant to Exhibit B-1 upon Siemens submittal of an invoice pursuant to Section 4.1 less the amount due City per Exhibit C. If the amount from Exhibit C is greater than the amount from Exhibits A-2 and A-3, Siemens will reimburse the City this amount within 30 days. 4.3 Total Payment. City shall pay for the services to be rendered by Siemens pursuant to this Agreement. City shall not pay any additional sum for any expense or cost whatsoever incurred by Siemens in rendering services pursuant to this Agreement. City shall make no payment for any extra, further, or additional service pursuant to this Agreement, unless agreed in a subsequent writing by both Parties. In no event shall Siemens submit any invoice for an amount in excess of the maximum amount of compensation provided above either for a task or for the entire Agreement, unless the Agreement is modified prior to the submission of such an invoice by a properly executed change order or amendment. 4.4 Hourly Fees. Rates for additional work performed by Siemens on an hourly basis shall not exceed the amounts shown on Siemens' billing rate schedule attached hereto as Exhibit B-3. Annual rates schedule updates shall be provided and approved in writing by City prior to any work being performed. Adjustments to rates shall not exceed 2.5% per year. ~.5 Prevailing Wage Requirements. Pursuant to Labor Code §§ 1770 et seq., Siemens shall pay to persons performing labor in and about Work provided for in the Agreement not less than the general prevailing rate of per diem wages for work of a similar WPCP Cogeneration 090808 -Page 8 of 60