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Agreement. <br />2.3. The CONSULTANT agrees that all services performed under this <br />Agreement shall be in accordance with the standards of the profession and in <br />compliance with applicable federal, state and local laws. <br />2.4. The Scope of Work may be amended upon written approval of both <br />parties. <br />3, TIME OF PERFORMANCE. The CONSULTANT may begin work upon the <br />Effective Date of this Agreement by both parties, or the CITY's issuance of a Notice to <br />Proceed, whichever is applicable, and the duration of the Agreement shall extend <br />through February 26, 2021. The work shall be completed in accordance with the <br />schedule set forth in the attached Exhibit B. <br />4. PAYMENT. The CITY shall pay the CONSULTANT as set forth in this section of <br />the Agreement. Such payment shall be full compensation for work performed, services <br />rendered, and all labor, materials, supplies, equipment and incidentals necessary to <br />complete the work. <br />4.1. Payment shall be on the basis of the CONSULTANT'S standard billing <br />rates multiplied by the actual hours worked as set forth in the attached Exhibit C. <br />4.2. The CONSULTANT shall submit invoices to the CITY on a monthly basis. <br />Invoices shall detail the work, hours, employee name, and hourly rate; shall itemize with <br />receipts and invoices the non -salary direct costs; shall indicate the specific task or activity <br />in the Scope of Work to which the costs are related; and shall indicate the cumulative total <br />for each task. <br />4.3. The CITY shall review the invoices and make payment for the portion of the <br />project or tasks that have been completed less the amounts previously paid. <br />4.4. The CONSULTANT invoices are due and payable within 30 days of receipt. <br />In the event of a disputed billing, only the disputed portion will be withheld from <br />payment. <br />4.5. Final payment for the balance due to the CONSULTANT will be made after <br />the completion of the work and acceptance by the CITY. <br />4.6. Payment for "Extra Work" performed under Section 13 of this Agreement shall <br />be as agreed to by the parties in writing. <br />4.7. The CITY may desire to establish a Management Reserve Fund to provide the <br />Agreement Administrator with the flexibility to authorize additional funds to the Agreement <br />for allowable unforeseen costs, or reimbursing the CONSULTANT for <br />Professional Services Agreement for Reecer Creek Floodplain Mapping and Levee Certification Support <br />Page 2 of 11 <br />(PSA Form rev. 04119) <br />