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<br />4.4 Bear all costs incident to this Article. <br /> <br />ARTICLE 5 <br />PAYMENTS TO THE CONSULTANT <br /> <br />5.1 PAYMENTS ON ACCOUNT OF BASIC SERVICES <br /> <br />5.1.1 Payments for Basic Services will be made to the Consultant annually in quarterly <br />installments following receipt by City of Consultant's invoices by the fifth business day of each <br />month following the end of each calendar quarter. The payment of said invoices will be made <br />within ten business days after the City's receipt of the invoice. Partial payments will be pro- <br />rated appropriately. <br /> <br />5.1.2 The Consultant will furnish at its own expense all necessary administrative services, <br />office space, equipment, clerical personnel, telephone and other communication facilities, <br />investment advisory facilities, insurance premiums, and executive and supervisory personnel for <br />managing the investments. <br /> <br />5.2 PAYMENTS ON ACCOUNT OF ADDITIONAL SERVICES <br /> <br />5.2.1 Payments on account of the Consultant's Additional Services as defined in Section 3.4 <br />will be made monthly upon presentation of the Consultant's statement of services rendered or <br />expenses incurred, less any disputed amounts, pending resolution thereof and an Authorization of <br />Change in Services form executed by the Consultant and the City. <br /> <br />ARTICLE 6 <br />CONSULTANT'S RECORDS <br /> <br />6.1 The Consultant will keep records in which complete and correct entries will be made of <br />all transactions relating to the receipts, disbursements, deposits, withdrawals, and transfers in the <br />Portfolio and Accounts in accordance with generally accepted accounting principles. Such <br />records will be available for inspection by the City at all reasonable hours of the business day <br />and during mutually convenient times. <br /> <br />6.2 The City, its auditors, federal auditors, and state agencies that have monitoring or <br />auditing responsibilities for this Agreement will have access to any books, documents, papers <br />and records of the Consultant which are directly pertinent to this Agreement for the purpose of <br />making audit, examination, excerpts, copying .and transcriptions. <br /> <br />6.3 The Consultant will furnish to the City at such time and in such form as the City may <br />require, financial statements including audited financial statements, records, reports, data and <br />information, as the City may request pertaining to the matter covered by this Agreement. <br /> <br />7 <br />