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5 <br /> 2. Proposed Fee <br /> The following fee is for services as outlined in the scope above and broken down by task. <br /> The total fee for the contract extension for all tasks is$49,500 less$19,714.05 remaining from <br /> completed tasks in the August 4,2020 contract. <br /> The existing VMWP contract will be amended from a total of$120,400 to $150,185.95. <br /> 3. Schedule <br /> The team anticipates that the additional tasks will be scheduled as follows: <br /> • Task 3a: Downtown Design Guidelines Amendments: March-September 2022 <br /> ® Task 8: Housing Element Test-Fit Studies:August-October 2022 <br /> 4. Compensation <br /> Compensation shall be based upon the hourly rate specified in the August 4,2020 contract. <br /> Reimbursables <br /> Reimbursable expenses include our direct costs for coordination printings including client review sets <br /> and planning submittals. It also includes travel, messenger, mail and other miscellaneous expenses <br /> through Construction. Reimbursable expenses such as printing, messenger,travel, etc. are in addition <br /> to the fee and will be billed at cost plus ten percent. <br /> 5. Payment <br /> Billing will be presented monthly in proportion to the work completed. Payments are due within 30 <br /> days of invoicing. Outstanding invoices will incur interest charges at the rate of 3% per month. <br /> 6. Insurance <br /> The following are VMWP's standard Insurance: <br /> Workers Compensation Insurance: $1,000,000 As required by the State of California <br /> Auto(Per Accident)(Individual): $1,000,000 <br /> Comm'I. Gen'I. Liability: Single Limit: $1,000,000 <br /> Aggregate: $2,000,000 <br /> Professional Liability(E&O): $2,000,000 (Aggregate) <br />