Laserfiche WebLink
tDBG CAPITAL IMPROVEMENT AGREEMENT <br /> EXHIBIT B <br /> City shall pay Recipient an amount not to exceed the total sum of Fifty - Thousand Dollars <br /> and 00 /100 ($50,000) for property acquisition. Payments to Recipient shall be based upon the <br /> completion of the work items and corresponding cost listed in Exhibit A. <br /> Invoices shall contain the following information: <br /> 1. Serial identifications of progress bills, i.e., Progress Bill No. I. <br /> 2. The beginning and ending dates of the billing period. <br /> 3. A Task Summary containing the original contract amount, the amount of prior <br /> billings, the total due this period, the balance available and the percentage of <br /> completion. <br /> 4. A brief description of the work performed, including but not limited to, improvements <br /> constructed during the billing period. <br /> 5. Funds disbursed for property acquisition will be issued in the name of the Escrow <br /> Company and placed directly into the escrow account. <br /> City shall pay the last 10% of the total sum due pursuant to this Agreement within forty - <br /> five (45) days after completion of the work and submittal to City, if all work due pursuant to this <br /> Agreement has been satisfactorily performed. <br /> The total sum stated above shall be the total which City shall reimburse the Recipient for <br /> the work pursuant to this Agreement. City shall not pay any additional sum for any expense or <br /> cost whatsoever incurred by Recipient in performing the work. <br /> Exhibit B Page 1 of 2 <br /> 6/12/95 Word 6.0 <br /> J:1 W PDIFORM5\AGREEEXH I B ITB. DOC <br />