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City of Sunny Isles Beach 18070 Collins Avenue, Sunny Isles Beach, Florida 33160 <br /> (305) 947-0606 phone(305) 949-3113 Fax <br /> 4. COMPENSATION. As the entire compensation under this Agreement and during the <br /> terms of this Agreement, in whatever capacity rendered, the City shall pay Consultant an amount <br /> not to exceed Four Hundred Seventy-Five Thousand Dollars ($475,000.00) for the performance <br /> of the stated Services. Payment to Consultant for all charges and tasks under this Agreement <br /> shall be in accordance with this Agreement and the schedule of charges reflected in Attachment <br /> "A", which fee shall be disbursed on a monthly basis and under the following conditions: <br /> a. Disbursements. Reimbursable expenses associated with this Agreement shall be <br /> in accordance with the Consultant's scope attached hereto as Attachment "A". <br /> b. Payment Schedule. Invoices received from the Consultant pursuant to this <br /> Agreement will be reviewed by the initiating City Department. If Services have <br /> been rendered in conformity with the Agreement, the invoice will be sent to the <br /> Finance Department for payment. Invoices must reference the contract number <br /> assigned hereto. Invoices will be due and payable thirty (30) calendar days after <br /> the date on which the invoice is stamped as received by the initiating City <br /> Department. Payment shall be made only for approved invoices. <br /> c. Reservation of payment rights. The City retains the right to delay or withhold <br /> payment for Services which have not been accepted by the City. Notwithstanding <br /> any provision of this Agreement to the contrary, City may withhold, in whole or <br /> in part, payment to the extent necessary to protect itself from loss on account of <br /> inadequate or defective work which has not been remedied or resolved in a <br /> manner satisfactory to the City Manager or his designee, or based on failure of <br /> Consultant to comply with this Agreement. The amount withheld shall not be <br /> subject to payment of interest by City. <br /> d. Availability of Funds. The City's performance and obligation to pay under this <br /> Agreement is contingent upon an annual appropriation for its purpose by the City <br /> Commission. <br /> e. Final Invoice. In order for both parties herein to close their books and records, <br /> the Consultant will clearly state "final invoice" on the Consultant's final/last <br /> billing to the City. This certifies that all services have been properly performed <br /> and all charges and costs have been invoiced to the City. Since this account will <br /> thereupon be closed, any other additional charges, if not properly included on this <br /> final invoice, are waived by the Consultant. <br /> It is acknowledged and agreed by Consultant that this amount is the maximum payable amount <br /> under this Agreement and constitutes a limitation upon the City's obligation to compensate <br /> Consultant for their Services. This maximum payable amount, however, does not constitute a <br /> limitation, of any sort, upon Consultant's obligation to perform all items of work required by, or <br /> which can be reasonably inferred, from the Services. This maximum payable amount includes <br /> reimbursement of all expenses of Consultant related to the Services. Consultant shall make no <br /> other charges to the City for supplies, labor, taxes, licenses, permits, overhead or any other <br /> C1314-035 THE WEITZ COMPANY 2 <br />