Agreement/Reche Canyon Mutual Water Company

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relating to prevailing wages, including but not limited to, Sections 1770 through 1775 inclusive of the California Labor Code and Title 8 of the California Code of Regulations. 3.4 Progress Reports and Billings; Records. Company shall require progress reports and billings every thirty (30) days from the design professionals and contractor performing construction and installation of the Project. Within seven (7) days of its receipt of such progress reports and billings, Company shall be responsible for determining their accuracy and providing full and accurate copies to City. Company shall also be responsible for paying all approved charges within the time required by state law. Company shall maintain complete and accurate records with respect to all costs and expenses pursuant to this Agreement. All such records shall be clearly identifiable. Company shall allow a representative of City during normal business hours to examine, audit and make transcripts or copies of such records and any other documents, proceedings, and activities related to the Agreement for a period of three (3) years from the termination/expiration of this Agreement. 3.5 Inspection and Transfer of Project. Without modifying or limiting Company's obligations under this Agreement, City shall inspect and test the Project. City shall have access to the Project site at all times to conduct any tests or inspections. Any deficiencies in the Project shall be corrected by Company at its sole cost and expense. Upon completion of the Project to the satisfaction of City, the Project shall be presented to the City Council for dedication and acceptance. The City Council shall accept the Project if it determines that it was constructed in accordance with approved plans, specifications and contract documents, that it operates satisfactorily, and that all other requirements of this Agreement have been satisfied. Upon acceptance of the Project, Company shall assign to City all of Company's rights and remedies, including warranties, as set forth in the approved contract documents. Company will be required to convey title to the Project to City. The form of said title shall be determined by City. City shall not be responsible for any accident, loss, or damage to said Project prior to acceptance by City. Company shall guarantee all work and materials for the Project to be free from all defects due to faulty materials or workmanship for a period of one (1) year from the date of acceptance by City. 3.6 Fees and Charges. Nothing in this Agreement shall be deemed as payment, satisfaction, or waiver of any fees or charges which may be imposed upon Company in connection with the provision of Emergency Service or performance of this Agreement. 3.7 Terms of Reimbursement. Company shall be eligible for reimbursement in an amount equal to the difference between the costs of the Facilities with the Oversized Portion and the costs of the Facilities. The costs to be taken into account in determining the amount eligible for reimbursement shall be the costs of design, construction, and installation of the respective facilities. The amount of said costs eligible for reimbursement, absent an amendment to this Agreement, shall not exceed the sum of One Hundred Thousand Dollars and No Cents ($100,000) ("Estimated Reimbursement Amount"). The Estimated Reimbursement Amount is City's most recent estimate of the difference between the costs of the Facilities with the Oversized Portion and the Cost of Facilities. RVPUBVM607452 3