Reso 1996-096 to 100 - Laserfiche WebLink

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EXHIBIT B PAYMENT SCHEDULE City shall pay Contractor an amount not to exceed the total sum of TWO HUNDRED AND FIFTY NINE THOUSAND AND N0/100 ($259,000) for services to be performed and reimbursable costs incurred pursuant to this Agreement. Contractor shall submit invoices, not more often than once a month during the term of this Agreement, based on the percentage completion of each task. Invoices shall contain the following information. 1. Serial identifications of progress bills, i.e., Progress Bill No. 1. 2. The beginning and ending dates of the billing period. 3. A Task Summary containing the original contract amount, the amount of prior billings, the total due this period, the balance available and the percentage of completion by task. 4. For each work item in each task, a brief description of the work completed. City shall pay the undisputed portion of such invoices within 30 days of receipt of the invoice. If City disputes a portion of the invoice, City shall pay the undisputed portion and notify Contractor of the disputed item within 7 days of receipt of the invoice. Both parties shall work diligently to resolve the disputed issue. City shall pay the last 10% of the total sum due pursuant to this Agreement within forty-five (45) days after completion of the services and submittal to City, if all services due pursuant to this Agreement have been satisfactorily performed. The total sum stated above shall be the total which City shall pay for the services to be rendered by Contractor pursuant to this Agreement. City shall not pay any Exhibit B; Page 1 of 2 9/26/88 Rev.; 1/10/90 Rev. 2/6/90 Rev.; 5/15/92 Rev.