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Article 2: Payment for Exhibit A-2 -Maintenance Services <br />2.1 Price: <br />As full consideration for the Services provided as described in Exhibit A-2 Scope of Work - <br />Maintenance Services, the City shall pay to Siemens the total Contract Sum of $2,124,148. <br />2.2 Maintenance Services Term: <br />The initial or first Term of the Services (Year 1) shall commence on the Acceptance Date or, <br />if agreed by both Parties, to meet SG1P requirements, and shall have a duration of 12 months. <br />Each consecutive Term shall be an Annual Period of 12 months. <br />2.3 Automatic Renewal: <br />The Maintenance Services Term shall automatically renew for successive Annual Periods <br />beginning on the ending anniversary date of the initial or first Term as set forth in Article 2.2 <br />above, and each Annual Period thereafter. City may terminate or amend the Exhibit A-2 <br />Scope of Work -Maintenance Services at the end of the initial term or at the end of a <br />renewal term by providing Siemens with at least 30 days prior written notice of such <br />amendments or intent not to renew. Each renewal shall be and remain subject to the terms <br />and conditions of this Agreement. <br />2.4 Payments: <br />The City agrees to pay invoices submitted by Siemens that meet the requirements of this <br />Agreement an Annual Contract Sum in accordance with Table B.2. These payments will be <br />quarterly with annual reconciliation. <br />Table B.2 -Maintenance Services Payment Schedule <br />Year Annual Payment ($) Note 1 Notes <br />1 $120,500 Maintenance <br />2 $123,200 Maintenance <br />3 $125,968 Maintenance <br />4 $128,804 Maintenance <br />5 $131,712 Maintenance <br />6 $134,692 Maintenance <br />7 $ l 37,747 Maintenance <br />8 $140,878 Maintenance <br />9 $144,088 Maintenance <br />10 $147,377 Maintenance <br />11 $150,749 Maintenance <br />12 Maintenance <br />$154,205 <br />WPCP Cogeneration 090808 -Page 46 of 60 <br />