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3.2.12.4 Surety Qualifications. Only bonds executed by an admitted surety <br />insurer, as defined in Code of Civil Procedure Section 995.120, shall be accepted. The surety <br />must be a California -admitted surety with a current A.M. Best's rating no less than A:VIII and <br />satisfactory to the City. If a California -admitted surety insurer issuing bonds does not meet <br />these requirements, the insurer will be considered qualified if it is in conformance with <br />Section 995.660 of the California Code of Civil Procedure, and proof of such is provided to the <br />City. <br />3.3 Fees and Payments. <br />3.3.1 Compensation. Contractor shall receive compensation, including authorized <br />reimbursements, for all Services rendered under this Agreement at the rates set forth in <br />Exhibit "C" attached hereto and incorporated herein by reference. The total compensation for <br />the City's Well Plant No. 23 Project shall not exceed Forty Thousand Dollars and No Cents <br />($40,000), without written approval of City's Utilities Director. Extra Work may be authorized, as <br />described below, and if authorized, will be compensated at the rates and manner set forth in this <br />Agreement. <br />3.3.2 Payment of Compensation. Contractor shall submit to City an itemized invoice <br />which indicates work completed and hours of Services rendered by Contractor. The invoice <br />shall describe the amount of Services and supplies provided for each repair, as appropriate. <br />City shall, within 45 days of receiving such invoice, review the invoice and pay all approved <br />charges thereon. <br />3.3.3 Reimbursement for Expenses. Contractor shall not be reimbursed for any <br />expenses unless authorized in writing by City. <br />3.3.4 Extra Work. At any time during the term of this Agreement, City may request that <br />Contractor perform Extra Work. As used herein, "Extra Work" means any work which is <br />determined by City to be necessary for the proper completion of the Project, but which the <br />parties did not reasonably anticipate would be necessary at the execution of this Agreement. <br />Contractor shall not perform, nor be compensated for, Extra Work without written authorization <br />from City's Representative. <br />3.4 Accounting Records. <br />3.4.1 Maintenance and Inspection. Contractor shall maintain complete and accurate <br />records with respect to all costs and expenses incurred under this Agreement. All such records <br />shall be clearly identifiable. Contractor shall allow a representative of City during normal <br />business hours to examine, audit, and make transcripts or copies of such records and any other <br />documents created pursuant to this Agreement. Contractor shall allow inspection of all work, <br />data, documents, proceedings, and activities related to the Agreement for a period of three (3) <br />years from the date of final payment under this Agreement. <br />RVPUB\NGS\529338 <br />