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Payment to the Engineer shall be made in monthly installments, or as invoiced, but not more than one (i) per month, in accordance with the invoices of engineering services submitted to and approved by the Sponsor. The invoices shall be based on hourly rates plus proportion of fixed fee plus reimburseable expenses. Work on the project shall commence upon approval of the contract by MN/DOT and FAA and receipt of a Notice to Proceed from the Sponsor and MN/DOT and shall be completed within ten (10) months thereafter. This Article addresses a provisional overhead rate applicable to the Engineer's labor costs for work performed on Phase I of the project. Where a higher rate can be substantiated after work under the agree- ment has been performed, a retroactive adjustment will be made at the time of final payment subject to audit confirmation. 1. A provisional overhead rate of 118.30$ of the direct labor costs will be used for the purpose of making partial payments to the consultant. 2. Final payment due to the consultant and the subconsultant will be based on actual acceptable costs as determined by Mn/DOT audit. The audit will be conducted in accordance with the cost principles and procedures set forth in the Code of Federal Regulations, Title 48, Chapter 1, Federal Acquisition Regulations, Part 31, which are made a part hereof by reference with the same force and effect as though fully set forth herein. ATTEST: CITY OF SEY ~ BY ~ /r/L~/~vI/1 Title /t'/.4yi~// Date~~j~~~ 7 ATTEST: ~~~ ~~ ATTEST: ~~~~ o~~. CITY OF SEY Title ~d~ih isT/,c1TaL Date ~~7~8? HAKANSON ANDERSQ,O,N AS/SOCIATES, INC. Title ~pfi ` Date - 3