2013/09/04 Council Agenda Packet

what amounts have been spent by the City on the Project. 4 5.2 Payment. Unless the County delivers to the City written notice disputing the amount of a particular line item, within twenty (20) working days of receipt from the City of a invoice properly submitted to the County pursuant to Section 5.1, the County shall remit to the City an amount not to exceed Seventy Five Thousand and no/100 Dollars($75,000.00). 5.3 No Overpayments. In the event that the Project is completed for less than the combined total .of the Matching Funds and the City's Financial Commitment, the County shall remit to the City an amount of Matching Funds equal to the difference between the City's Financial Commitment and the total cost of the Project. In no case shall the City retain Matching Funds which-it does not utilize in the Project or that it utilizes in the Project without first exhausting the City's Financial Commitment. Should an overpayment occur, the County shall give written notice to the City of the overpayment, and within thirty (30) days of the notice of overpayment the City shall return to the County the overpaid Matching Funds plus interest at the rate of twelve percent (12%) per annum beginning thirty (30) days from the date of the notice of overpayment. 5.4 Accounting. The City shall maintain a.system of accounting and internal controls which complies with generally accepted accounting principles and governmental accounting and financial reporting standards in accordance with Chapter 40.14 RCW. 5.5 Recordkeeping. The City shall maintain adequate records to support billings. The records shall be maintained by the City for a period of five (5) years after completion of this Agreement. The County, or any of its duly authorized representatives, shall have access to books, documents, or papers and records of the City relating to this Agreement for purposes of inspection, audit, or the making of excerpts or transcripts. 6. Independent Contractor. The City will perform all work associated with the Project as an independent contractor and not as an agent, employee, or servant of the County. The City shall be solely responsible for control, supervision, direction and discipline of its personnel, who shall be employees and agents of the City and not the County. The County shall only have the right to ensure performance. 7. Indemnification/Hold Harmless. The City shall assume the risk of,be liable for, and pay all damage, loss,costs and expense of any party arising out of the activities under this Agreement and all use of any improvements it may place on the Property. The City shall hold harmless, indemnify and defend the County, its officers, elected and appointed officials, employees and agents from and against all claims, losses, lawsuits, actions, counsel fees, litigation costs, expenses, damages, judgments, or decrees by reason of damage to any property or business and/or any death, injury or disability to or of any person or party, including but not limited to any employee, arising out of or suffered, directly or indirectly,by reason of INTERLOCAL AGREEMENT BETWEEN SNOHOMISH COUNTY AND THE CITY OF EVERETT of 9 FOR PARK PROJECT FUNDING 33