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CDBG CAPITAL IMPROVEMENT AGREEMENT <br /> EXHIBIT B <br /> PAYMENT SCHEDULE <br /> City shall pay Recipient an amount not to exceed the total sum of Seventy Five Thousand <br /> Dollars and 00 /100 ($75,000.00) for improvements to be constructed. Payments to Recipient shall <br /> be based upon the 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. 1. <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, <br /> improvements constructed during the billing period. <br /> City shall pay the last 10% of the total sum due pursuant to this Agreement within forty-five <br /> (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 cost <br /> whatsoever incurred by Recipient in performing the work. <br /> City shall make no payment for any extra, further or additional work pursuant to this <br /> Agreement unless such extra work and the price therefor is agreed to in writing executed by the <br /> Exhibit "B" Page 1 of 2 <br /> 6/12/95 • Word 6.0 <br /> J:\WP1YFORMSIAGREIEXHIBIT13. DOC <br />