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Studio Peters' local representative shall remain on -site throughout the installation of the Work, and when installation is completed, shall submit a final report to the General Contractor and the City regarding whether the installation of the Work was done to the satisfaction of Glass Studio Peters. 3. FEES. A. The City shall pay to Glass Studio Peters, which shall then pay the Artist, as the purchase price for the Work and the services to be rendered by Artist, the sum of $20,000.00, to be paid in the following installments: 1) 50% of the purchase price ($10,000) upon execution of this Agreement; 2) 40% of the purchase price ($8,000) when the Work has been delivered to the site and inspected for damage or lost pieces; and 3) 10% of the purchase price ($2,000) upon final acceptance by City. This purchase price includes all of Artist's costs and expenses in carrying out his obligations hereunder including materials, design, transportation and communications regarding the Work. B. The City shall pay to Glass Studio Peters, as the fabrication costs and installation consulting costs for the Work, the sum of $93,275.00, to be paid in the following installments: 1) 25% of the costs ($23,318.75) upon execution of this Agreement; 2) 25% of the costs ($23,318.75) upon completion of the field measurement by the local representative; 3) 25% of the costs ($23,318.75) when the Work has been delivered to the site and inspected for damage or lost pieces; 4) 15% of the costs ($13,991.25) upon installation of the Work with on -site consultation by the local representative; and 5) 10% of the costs ($9,327.50) upon final acceptance by City. These fabrication costs and installation consulting costs include all of Glass Studio Peters', and its local representative's, costs and expenses in carrying out its obligations hereunder including materials, design, installation design, fabrication, transportation, lodging and communications regarding the Work. 4. RESPONSIBILITIES OF THE PARTIES. A. The Work shall be fabricated by Glass Studio Peters in conformity with Exhibit A, subject to minor changes as are made necessary by the materials or the production process or as are deemed necessary or appropriate by Artist to carry out the overall design. City understands that it may not be possible to create the Work precisely as depicted in Exhibit A; however, if during the fabrication process, the Artist or Glass Studio Peters makes significant changes in size, imagery, finish, or other approved elements of the Work, the Artist or Glass Studio Peters will Page 3 of 8