2020/06/10 Council Agenda Packet

Additionally,the parties may choose to extend the term of this Agreement by two(2)—three-year extension.terms. If the parties so agree,each extension term will be formalized in an amendment to this Agreement. 4. Compensation. A. Management Fee Is Complete Compensation. The City will pay Service Provider the Management Fee, as defined in Section 4.13 below. The Management Fee is full payment and complete compensation to Service Provider for all labor, materials, services, costs, expenses, equipment and all other items or actions necessary for the Work and for completion of all Service Provider's obligations under this Agreement. No other payments or reimbursements to Service Provider are allowed under this Agreement. B. Definition of Management Fee. The"Management Fee"is as follows: �EEC 1•4Uc��` - . Contract Year One: $18,274.30.per month until r July 1,2020 to June 30,2021 automation occurs. As set forth in the RFP,the City intends to automate the Everpark Garage,which is anticipated to occur during Contract Year One. Effective on automation, Management Fee becomes $12,289 per month. If automation occurs mid- month,that month will be prorated. Contract Year Two $12,658 per month July 1,2021 to June 30,2022 Contract Year Three $13,038 per month July 1,2022 to June 30,2023 C. Failure to Correct Work. If Service Provider fails or refuses to correct its work when so-directed by the City the-City=may-withhold:from any payment otherwise-due-an amount that the City in good faith believes is equal to the cost to the City of correcting, re-procuring, or remedying any damage caused by Service Provider's conduct. • 5. Method of Payment. A. To obtain payment, the Service Provider shall (a) file its request for payment for the Management Fee and (b) comply with.all applicable provisions of this Agreement. Service Provider shall be paid no more often than once every thirty days. { Page 2 PARKING MANAGEMENT SERVICES AGREEMENT 137