6.A.(1) Agreement for Services with Downtown South Bend

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L Revision o Requested Services. If, as a result of any review hereunder, it is the opinion of the Commission that revisions to the scope of the Requested Services are necessary or the methods employed by the Provider are inappropriate, the Commission may require such revisions to the scope or methods by notifying the Provider in writing. J. Additional Auditing Requirements for Not-For-Pro ~t Organizations. The Provider understands that not-for-profit entities receiving City of South Bend funds, including funds received from the Commission, equal to or greater than $ i 00,000.00 are required to supply an independent audit. Audited financial reports must be provided to the City's [nternal Auditor on an annual basis, including any A-133 Audits. If the Provider is required to submit an E-1 form to the Indiana State Board of Accounts, the Provider shall also forward a copy of the E-1 to the City's Internal Auditor. The City may also make an examination of the Provider's fidelity bonding and fiscal and accounting procedures to determine whether these procedures meet the requirements of this Agreement. K Com,~etitive Bidding Requirements. To the extent funds provided to DTSB are used for construction, reconstruction, alteration, repair or renovation of a structure or improvement, Competitive Bidding Requirements shall be followed. SECTION 4. Compensation. A. Fees,for Services. As compensation for services performed pursuant to this agreement, the Commission agrees to pay the Provider a fee of Two Hundred Fifty Thousand Dollars ($250,000) for services rendered, along with all reimbursable expenses specifically agreed to in writing by the Provider and the Commission, but excluding Parking Lot fees (the "Contract Amount"). B. Shared Parking Lot Fees. As compensation for services provided in managing the Parking Lots described in this Agreement, the Provider and the Commission shall divide gross revenues generated from the use of the Parking Lots as follows: (i) 50% of gross revenues will be retained by the Provider as a management fee; (ii) 50% of gross revenues will be used to comply with the Provider's obligations under paragraph 2 of EXHIBIT "A-1 ". C. Invoices. The Provider shall submit an invoice for progress payments to the Commission for services performed under this Agreement, which invoice shall identify the project, the task, and a description of the services completed. Invoices shall be submitted within five (5) days of the preceding month for which services were rendered. For example, the invoice seeking payment for services rendered in January, 20091 shall be submitted no later than February 5, 2009. In the event of termination of 6