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Schedule of Payments <br /> Compensation for the initial rehabilitation and ongoing maintenance <br /> tasks��rill be billed on an annual basis. <br /> The initial annual payment will be invoiced upon completion of the <br /> 2014 work plan. The subsequent annual fees will be invoiced on the <br /> anniversary date of the contract, starting in the j�ear 2015. <br /> Payment Plan Options <br /> We have provided rivo alternative fi��e-year and ten-year payment plans <br /> for our proposed tank maintenance services. <br /> The first alternative is a variable payment plan,which essentially <br /> invoices the rehabilitation and maintenance costs as incurred by <br /> SEH D�B and our tank maintenance partner Classic Protective <br /> Coatings. <br /> The second alternative sums the total cost of the proposed <br /> rehabilitation and maintenance costs, and amortizes them into equal <br /> annual payments (including a nominal interest charge) for each year <br /> � of the service contract. <br /> If desired, the annual amounts can be broken down into equal <br /> monthly payments. <br /> Option I —Variable Payment Plan <br /> In the Variable Payinent Plan (pay as you go), the Owner shall pay <br /> SEH D�B for the work provided in the Scope of Services in accordance <br /> with the following schedule: <br /> Year Payment <br /> 2014 $389,500 <br /> 2015 $4,900 <br /> 2016 $4,900 <br /> 2017 $4,900 <br /> 2018 $62,500 <br /> Total $466,700 <br /> As identified in the above table, contract payments will be variable by <br /> year. Payments in year one will largely cover the costs associated with <br /> the initial rehabilitation and recoating of the storage tank. Payments <br /> in years two through five will cover the costs of ongoing maintenance, <br /> inspections and reporting of the tank conditions. The year five <br /> payment will include the cost of pressure-wash cleaning of the exterior <br /> and wet interior surfaces of the tank. <br /> schedule of payments � page 18 <br />