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i) Document preparation and submittal for finalizing to obtain California Solar Initiative rebates that the City has already applied for and approved to receive, and federal American Reinvestment and Recovery Act funds j) Educating City staff on the operation of the PV system as well as the related Initial Feasibility Study prepared by Energy Solutions dated 2 -3- 2009 (the "Initial Feasibility Study and also the general system and specific components set forth in the Contractor's proposal dated July 10, 2009 (the "proposal The work to be performed shall also include any written change orders approved by Craig Higgins, Asst. Director of Operation Services, or Jim Gotcher, Construction Inspector, or their designee. 2. Compensation. The City shall pay the Contractor for work actually performed at the price for the system set out in the Contractor's proposal to the City, incorporated herein. The City and Contractor agree that for change orders for work in addition to the work described in Section 1, above, the City shall pay Contractor for direct verifiable costs plus fifteen percent (15 3. Method of Payment. A. Progress Payments. As of the twentieth day of each month, Contractor may submit for review a request for progress payment, listing the amount and value of work actually performed during the preceding month, or part thereof. Upon City staffs review and approval, including adjustments if any, City shall make a progress payment to the Contractor. B. 10% Retention. Ten percent (10 of the amount due shall be retained by the City as a retention. The City shall retain ten percent (10 of the contract amount for thirty -five (35) days after the Notice of Completion for the work is recorded. The Contractor may elect to receive 100 percent (100 of payments due under the contract documents from time to time, without retention from any portion of the payment by the City, by depositing securities of equivalent value with the City in accordance with the provisions of Section 22300 of the California Public Contract Code. Such securities, if deposited by the Contractor, shall be valued by the City, whose decision on valuation of the securities shall be final. Securities eligible for investment under this provision shall be limited to those listed in Section 16430 of the California Government Code. C. Time of Payment. Requests submitted promptly as of the 20th day of each month will be paid by the 10th day of the following month. 4. Incorporation of Contract Documents. This Contract expressly incorporates all terms and conditions contained in the RFQ, Initial Feasibility Study, proposal, and City of Page 2