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commodities. The Contractor shall attach written certification from each end market. 10. Contract Term and Fate PayMent The term of this contract agreement is for five -gears from January 1, 2004 to December 31, 008'. The Contract rate of $2.36 per month per household is fixed for gears, 2004 and 2005, with an option on either parties' part to open the contract in the third, fourth and fifth years to review contract costs lased on the Consumer Price Index "CH". Cost increases would be capped at a maximum of 3% per year and agreed to by both parties. The rate includes all collection costs, carts, materials processing and marketing expenses. 1 l . Penalties The Contractor agrees the City may withhold payment from the Contractor in the amounts specified below as a penalty for failure of the Contractor to fulfill its obligations; A. Failure to report changes in location of rec yc l abl es processing operations - $5o per incident. B. Exceeding the maximum process residuals rate 4 $ 1,000 per incident (defined as a monthly total by weight over the specified maximum rate). C. Failure to conduct composition analysis - $504 per incident. D. Failure to provide wTitten description of the means to estimate relative amount of process residuals derived from the City's re c cl ables - $500. 12. Profit Sharing Contractor and City shall divide all proceeds from sale of recyclable materials at a rate of fifty (50) percent for each party. Contractor shall on a monthly basis 'F itemize the amount of revenue received from the sale of processed recyclable material. Contractor shall submit, with the itemization, and on a monthly basis, actual market sales receipts. Contractor shall endeavor to sell recyclable materials at the prevailing market price. The City's share of revenues shall show as a credit on the monthly statement submitted by Contractor. 13. Terms and Conditions FA .,