Laserfiche WebLink
the bonds shall further provide that no change or alteration of the Agreement (including, without <br />limitation, an increase in the total compensation, as referred to above), extensions of time, or <br />modifications of the time, terms, or conditions of payment to the Contractor, will release the surety. <br />If the Contractor fails to furnish any required bond, the City may terminate this Agreement for cause. <br />3.2.12.4 Surety Qualifications. Only bonds executed by an admitted <br />surety 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 ANIII and <br />satisfactory to the City. If a California -admitted surety insurer issuing bonds does not meet these <br />requirements, the insurer will be considered qualified if it is in conformance with Section 995.660 of <br />the California Code of Civil Procedure, and proof of such is provided to the 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 Exhibit "C" <br />attached hereto and incorporated herein by reference. The total compensation shall not exceed <br />Twelve Thousand Five Hundred Dollars ($28,500). Extra Work may be authorized, as described <br />below, and if authorized, will be compensated at the rates and manner set forth in this Agreement. <br />3.3.2 Payment of Compensation. Contractor shall submit to City a monthly <br />itemized statement which indicates work completed and hours of Services rendered by Contractor. <br />The statement shall describe the amount of Services and supplies provided since the initial <br />commencement date, or since the start of the subsequent billing periods, as appropriate, through the <br />date of the statement. City shall, within 45 days of receiving such statement, review the statement <br />and pay all approved 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 <br />that 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 parties did <br />not reasonably anticipate would be necessary at the execution of this Agreement. Contractor shall <br />not perform, nor be compensated for, Extra Work without written authorization from City's <br />Representative. <br />RVPUB\NGS\529338 7 (BBK revised July 2, 2001) <br />