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E~'HIBIT B <br />PAYMENT SCHEDULE <br />City shall pay Contractor a fixed monthly fee of $5871.00 plus an hourly fee of $27.70 <br />per vehicle service hour, Gate to Gate not to exceed the total sum of Seventy Thousand Dollars <br />($70,000) for services to be performed pursuant to this Agreement. Contractor shall submit <br />invoices, not more often than once a month during the term of this Agreement, based on the cost <br />for services performed prior to the invoice date. Invoices shall contain the following <br />information. <br />The beginning and ending dates of the billing period. <br />2. The CONTRACTOR will invoice the CITY on a monthly basis by the 15th of the <br />month for all service provided in the previous month. The invoice will include a <br />summary of revenue hours operated and fare box revenue by fare type. All cash <br />fares collected will be retained by the CONTRACTOR and net from the monthly <br />charges. All ticket/coupons/vouchers collected will be forwarded to the CITY <br />with the monthly invoices. <br />City shall make monthly payments, based on such invoices, for services satisfactorily <br />performed. <br />The total sum stated above shall be the total which City shall pay for the services <br />to be rendered by Contractor pursuant to this Agreement. City shall not pay any additional sum <br />for any expense or cost whatsoever incurred by Contractor in rendering services pursuant to this <br />Agreement. <br />Exhibit B Page 1 of 3 <br />G:\Oliver\Paratransit\IvIV Contract Aug 03 -Feb 04 <br />