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City of Susrny isles Beurclr18070 Collins Avenud, Sunny Isles Beach, Florida 33160 (305) 947.0606 phone (305) 949-3113 Fax will require its employees to perform their work a in manner befitting the typ to be performed, 1n the event that the Contractor faits to complete and scope of work e the Services pursuant to the terms of this contract and City must undertake the completion Contractor agrees to indemnify the City for an costs inourred with respect to the completion of performance of Services, s, those Services and any dam of Perform the Services. as ages the City may suffer a result of the Contractor's failure to 3 T' ' Subject to the provisions relating to tlhe termination of this Agreement as set forth hereunder, the term of this Agreement shall begin upon full execution ofthis Agreement, and shall remain in effect for an initial three (3) year term. The City shall have the option at its sole discretion to renew the Agreement for an additional two (2) one (1) year renewal terms, Payment will be made only for work completed to the satisfaction of the City. Contractor ontr ctoristo commonce performance of work from the date of this agreeinent and continue in a diligent manner a until completion of the Services. Conttaetor acknowledges that compliance with the commencement and completion- schedule is the essence of this Agreement, The terms of Secti 18 and 19 entitled "Indemnification and 'waiver of Liability," on and "Compliance with Law," respectively, shall survive termination of this Agreement. 4. 0 1 �S— AT-1QN during tho term of this Agreement, in whatever capacity rendered., the City Shall pay Contractor for Services performed under this Agreement in an amount not to exceed Four Hundred Seven Thousand Dollars ($407,000.00), which amount includes One Hundred Fifty Seven Thousand Dollars ($157,000.00) aS compensation for the Services in year one ("Year One Compensation"), One Hundred Twenty Five Thousand Dollars conttpensation for the Services in year two ("year Two Compensation" ($125,000.00) as Five Thousand Dollars ($125,000.00) as compensation )' and Ona Hundred Twenty Year Three Compensation"), payment to Contractor for all charg charges d tasks under this Agreemein year thm nt nt she 1 be In accordance with the Contract Documents and the schedule of charges as reflected in Attachment "A", under the following conditions; Disbur-- °— dntg• There are no reimbursable expenses associated with this Contract except for expenses approved by the City Manager. 41men# Sehedu1A invoices received from the Contractor pursuant to this Agreement wil l be reviewed by the initiating City Department. Upon full execution of this Agreement, payment of a deposit shall be made by the City to the Contractor in the amount of Fifty percent (50%) of Year One Compensation. Upon successful Installation of the Services by the Contraotor2 the City shall pay Contractor Twenty Five Percent (25%) of Year One PercCompensation. The remainder Twenty Five ent (25%) {valance shall be paid by the City following the removal and full satisfaction of the Services by the Contractor. For years two and three of the initial term, the pa Twenty live Percent (23%) ofthat year°S ync�ent schedule shall be as follows: compensation upon on the anniversary of the execution date afthe Agreement, Fifty (50%) ofthatyear's oortzpensation upon Successful installation of the Services, and the remaining Twenty Five percent Light V Up LLC 72 ((r