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4-6.2 Optional Services <br />Fees for Optional Services as outlined in Services in Section 4-3.0 above <br />(except Section 4-3.4) shall be billed at the following hourly rates: <br />Partner $225 per hour <br />Principal $195 per hour <br />Programmer $175 per hour <br />Associate $150 per hour <br />Senior Analyst $100 per hour <br />Analyst $ 65 per hour <br />Administrative $ 45 per hour <br />Hourly rates are exclusive of expenses and are subject to adjustment by <br />CONSULTANT annually, beginning July 31, 2022 bythe United States Department <br />of Labor Bureau of Labor Statistics All Urban Consumers Consumer Price Index <br />(CPI) as determined for the Los Angeles -Riverside -Orange County California Area <br />- Base Period 1982-84 = 100, as measured by the change in the CPI from the <br />monthly period ending January 31, 2021 thru June 30 of each year. July 31st of <br />each year CONSULTANT shall provide CITY with an updated schedule of hourly <br />rates. Annually adjusted hourly rates will not change (+ / -) by more than 4 percent <br />(%) per year. In addition, expenses for Optional Services shall be billed at 1.15 <br />times actual incurred costs. <br />4-6.3 Fees for Bond Services <br />Services under Section 4.5.0 above will be determined depending upon the <br />complexity of the bond issue and the time available for completion of the task and <br />will be mutually agreed to be the parties. <br />4-6.4 Indirect Expenses <br />Except as specified above, no other charges shall be made for direct or <br />indirect expenses incurred by CONSULTANT in performing the services in the <br />Scope of Services including for administrative overhead, salaries of <br />CONSULTANT'S employees, travel expenses or similar matters. <br />4-6.5 Due Date <br />All fees are due 45 days immediately following billing. All amounts that are <br />not paid when due shall accrue interest from the due date at the rate of one percent <br />per month (12% per annum). <br />4-7.0 Term Performance Schedule <br />4-7.1 Implementation <br />Implementation of services should begin as soon as possible from the Effective <br />Date for the performance of services under the terms of this Agreement. <br />4-7.2 Schedule of Performance <br />CONSULTANT shall commence the services pursuant to this Agreement <br />upon receipt of a written notice to proceed and shall perform all services within the <br />