Common use of Payment Provision Clause in Contracts

Payment Provision. District agrees to compensate Contractor for the services specified herein as follows: 3.01. For collection and removal of garbage known as residential garbage service, a payment of Twenty-Eight Dollars and Ten Cents ($28.10) per month for each single-family unit for the period July 1, 2023 thru June 30, 2024. 3.02. Should any charges enforced by the District or Placer County be determined by a court of competent jurisdiction to be invalid, or violate any provision of law, said portion of the Agreement shall be of no force and effect, without affecting any other portion of this Agreement. 3.03. Contractor shall have the option to bill District for all payments due pursuant to this Agreement for a calendar quarter by the fifteenth (15th) day of the last month of each calendar quarter or accept the payment breakdown prepared by the District and included with the payment. 3.04. District shall provide payment to Contractor for those sums billed for the calendar quarter by the first working day of the month following the end of the calendar quarter. 3.05. Should the contract automatically renew for subsequent terms extending beyond the 2023- 2024 rate year, the rates will be adjusted effective July 1st each year for any increase in the garbage and trash collection component of the Consumer Price Index, using Series: ID: CUUR0000SEHG02, Garbage and trash collection in U.S. city average, all urban consumers, not seasonally adjusted, as published by the U.S. Bureau of Labor Statistics. The data to be used shall be an average of twelve months (October through September) prior to the operating rate year for which the adjustment is to be made (for example, the adjustment for the 2024-2025 operating rate year will use statistics from October 2021 through September 2023). If the index should become no longer published or no longer available during the Agreement, both parties will meet and confer to determine the most similar index still being published for use as a substitute. In the event that any calculated annual rate adjustment exceeds 6%, the amount above 6% will be carried-forward and cumulatively incorporated into subsequent year rate adjustments, until the foregone amount becomes fully captured in the rates. 3.06. Rate adjustments for extraordinary costs. The monthly residential base rate and associated rates may be adjusted at times when agreed upon in advance and in writing by both Contractor and District for unforeseen extraordinary costs not captured in the adjustment index used, including, but not limited to, changes in laws and regulations, and instances in which the Contractor’s disposal costs may increase at a higher amount than the published index reflects. District may defer timing of the rate adjustment until the July 1st beginning of the next rate year, with any amounts incurred by the Contractor prior to that date included within the calculation of the adjustment.