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7 4141352.1 4197282.1 3. Cost-sharing: Zone 7 and the City shall share the cost of Phase I equally (50/50 cost sharing) for the contractor / consultant agreements that include the following with a not-to-exceed (NTE) limit of one million dollars for each of the Parties and for a total of two million dollars for the total cost of Phase I: A. Contractor(s) agreement to perform exploratory test drilling B. Consultant(s) agreement to perform technical feasibility review Agreements with consultants and contractors listed above will require authorization by Zone 7’s Board of Directors. The City Council delegates authority for Zone 7 to enter into agreements with consultants and contractors listed herein only after approval by the Steering Committee, which shall be confirmed in writing by the City’s Director of Public Works. Zone 7 will immediately notify and seek City’s concurrence for claim notices by contractors and consultants. Any consultant / contractor agreements, change orders, or amendments that exceed the not-to- exceed limit of this agreement require approval by both governing bodies prior to execution and a written amendment to this agreement Each agency will contribute its own staff time and resources for tasks and activities that are self- performed including but not limited to: A. Zone 7 – Project management, construction management, contractor/consultant management, reports review and analysis, preparation of recommendations to the Steering Committee and Board of Directors, and any work necessary to deliver Phase I of the Project. B. City – Community engagement, report review and analysis, encroachment permits, granting of rights of way, and any support work necessary to deliver Phase I of the Project. 4. Invoicing/ Reimbursement: Zone 7 will invoice the City on a quarterly basis the City’s cost sharing amount for the direct costs of contractor and consulting services for the previous three months. Along with the invoice, Zone 7 will provide a schedule update and budget summary broken down by agreement that includes budget, expenses to date, percent expenditures, and estimated percent complete. Zone 7 will notify the City and provide a justification for payment when the invoiced amount exceeds the estimated percent complete. The City shall reimburse Zone 7 within sixty (60) days from the date of the invoice. After 60 days, the invoice shall become past due and shall accrue interest at a rate of 10 percent per annum. Docusign Envelope ID: C3AEBDB6-7475-485D-A080-E7CE2789D1B8