Master Services Agreement - Spevco Special Vehicles Company - Experiential Vehicle for VPA

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Section 4 - Design & Build Budget Example Milestone Payments Price Design Deposit $2S,000 All payments due prior to departure date. Release To Engineering $25,000 One (1) Experiential Recreational Vehicle Release To Manufacturing $200 0,00 Fabrication Completion Payment $200,O00 Final Acceptance Testing and Training complete Contingency Budget $150„000 Contingency amount will include all associated extra costs including branded accoutrements.; vehicle specific accessories, and other programmatic items whether it is supplied by Spevco or not. !11 :Fees listed above are example budgets. Actual costs and payment schedules will be incorporated to this agreement only by Purchase Order. The total consideration of this agreement shall not exceed the sum of six hundred thousand ($600,000.00) dollars. Any payment the client may deny, withhold, or delay shall not be subject to penalty or interest under IN code 5-17-5, Issuance and acceptance of a. Purchase Order shall incorporate the Pt) by reference herein. Note. This agreement includes 34 staff visits for four (4) City of South Bend project team members. All fees as agreed to via PO are identified as fixed unless noted otherwise. SPEVCO'S fees are a computation of all aspects of the build project. Any late payments are cause for a temporary suspension of the program. Any late payment must be approved, in advance, The schedule above is the expected and agreed upon payment schedule and acts as notice of the payment terms per this agreement. • Payments are due not later than 3S days from the date of invoice is received by client, • Changes to the schedule or damages to the platform may result in additional fees Expenses can be reconciled quarterly and appropriate adjustments made based on actual schedule, days, miles, and events. specia r.�.; spcvro' No � ��; i...,�� [sVYXd'd .jti�¢a�bEP1,, 4�e,De Ytta(PVowjl*� NAY}4p'x