Agenda - 01-24-2013 - 5g - Laserfiche WebLink

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K occupancy receipts exceed $950,000 (See paragraph 1). Payments of $43,750 each will be made on or after the following dates: July 1, 2012; October 1, 2012; January 1, 2013; and April 1, 2013. The Town's obligation to make each payment is contingent upon receiving satisfactory documentation and accounting of expenditures as detailed in the attached Work Statement. 5. Insurance Provisions: The Town requires evidence of Contractor's current valid insurance (if applicable) during the duration of the named project and further requires that the Town be named as an additional insured. 6. Financial Records: Contractor agrees to allow the Town to inspect its financial books and records upon reasonable notice during normal working hours. 7. Work Statement: Contractor agrees to provide those services described in the Work Statement attached hereto and incorporated herein by reference, to residents and visitors of Chapel Hill and to maintain a high level of professionalism in the provision of these services. 8. Termination for Cause: In the event that Contractor shall cease to exist as an organization or shall enter bankruptcy proceedings, or be declared insolvent, or liquidate all or substantially all of its assets, or shall significantly reduce its services or accessibility to Chapel Hill residents during the term of this Agreement; or in the event that Contractor shall fail to render a satisfactory accounting as provided herein, then and in that event the Town may terminate this Agreement and Contractor will return all payments already made to it by the Town for services which have not been provided or for which no satisfactory accounting has been rendered. 9. Billing and Payment: The Contractor shall submit a bill to the Town for work performed under the terms of this Agreement. The Contractor shall bill the Town and the Town shall pay the rates set forth therein. Payment will be made by the Town within thirty (30) days of the receipt of an accurate invoice approved by the contact person or his /her designee. 10. Federal and State Legal Compliance: The Contractor must be in full compliance with all federal and state laws, including those on immigration. 11. Amendment: This Agreement may be amended in writing by mutual agreement of the Town and Contractor. 12. Interpretation: This Agreement shall be construed and enforced under the laws of the State of North Carolina. In the event of any dispute between the parties, venue is proper in Orange County, North Carolina. 13. Severability: The parties intend and agree that if any provision of this contract or any portion thereof shall be held to be void or otherwise unenforceable, all other portions of this contract shall remain in full force and effect. 14. Assi_ng ment: This Agreement shall not be assigned without the prior written consent of the parties.