Agreement/Reche Canyon Mutual Water Company

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3.8 Reimbursement Procedure. 3.8.1 Submittal of Itemized Bill for Reimbursement. Within thirty (30) days after completion and formal acceptance by City of the Project, Company shall provide City with an itemized accounting showing all reasonable costs and expenses incurred by Company to design, construct and install the Project ("Project Cost Bill"). Said Project Cost Bill shall be itemized in order to segregate that portion of the costs and expenses pertaining to the Facilities with the Oversized Portion and the costs and expenses pertaining to the Facilities only. 3.8.2 Reasonable Costs Defined. Reasonable costs shall be limited to: (1) the reasonable costs of land and/or easements necessary to accommodate the Project alone; (2) permit fees; and (3) reasonable costs directly and necessarily related to the design, construction and installation of the Project. 3.8.3 Supporting Documentation. The Project Cost Bill shall be supported by the following information to be provided along with the Project Cost Bill: (1) bills of sale; (2) recorded instruments for land, property or property right acquisitions; (3) an executed and filed Notice of Completion; (4) copies of all contracts and purchase orders; (5) copies of all change orders; (6) copies of all invoices and other back-up documentation; (7) copies of all canceled checks (front and back); and (8) a summary spreadsheet listing projects, date, invoice number, invoice amount and check number used to pay the invoice. The Project Cost Bill shall be subject to the review and approval of City, and no costs and expenses on the Bill shall be reimbursable until approved by City, which approval may not be unreasonably withheld. Company agrees to provide City with any additional information as to any items on the Project Cost Bill as may be requested by City. Following completion of its analysis, City shall advise Company, in writing, of any costs or expenses shown on the Bill which City believes do not qualify for reimbursement. 3.9 Payment. Upon completion and acceptance of the Project and the City's approval of the Project Cost Bill, City shall acknowledge to Company in writing the amount to be reimbursed to Company ("Approved Reimbursement Amount"). City shall then submit payment to Company in the amount of the Approved Reimbursement. In no event shall the Approved Reimbursement Amount exceed the Estimated Reimbursement Amount. 3.10 No Interest. Company understands, acknowledges and agrees that Company shall not be entitled to interest on any amount of reimbursement due to Company under this Agreement. 3.11 Standard of Care; Safety. Company shall ensure that all work on the Project is performed in a skillful and competent manner, consistent with the standards generally recognized as being employed by professionals and contractors in the same discipline in the State of California. Company shall procure the services of professionals and contractors skilled in the professional calling necessary to perform the Project. All employees and subcontractors working on the Project shall have all licenses, permits, qualifications and RVPUBVFF\607452 4