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DocuSign Envelope ID: 58FE3CF5-7330-4F18-9C60-B177A84C616D <br />This Agreement does not create a multiple fiscal year direct or indirect debt or other financial <br />obligation. All financial obligations of ERMU under this Agreement are contingent upon <br />appropriation, budgeting, and availability of specific funds to discharge such obligations. <br />6. Agreement Price <br />ERMU shall compensate Distributor for Work performed pursuant to this Agreement according <br />to the price information set forth in Attachment III —Pricing and the following milestone <br />schedule. The "Milestone Description" stated in the Milestone Payment Schedule is provided as <br />a summary only; this Agreement and the appendices provide the detailed scope of the Work, <br />deliverables, and requirements. <br />Table 1: Milestone Payment Schedule <br />Milestone <br />Description <br />Payment <br />Phase I <br />Initial Deployment Area <br />95% of each monthly invoice for items <br />related to Phase I deployment area <br />5 % Retainage <br />ISAT <br />Successful completion of the ISAT <br />Payment of Retainage withheld during <br />for the Phase I, Initial Deployment <br />Phase I <br />Area <br />Phase II <br />Full Delivery <br />95% of each monthly invoice for items <br />delivered related to Phase II Network <br />Equipment deployment area: <br />5% Retainage <br />FSAT <br />Successful completion of the FSAT <br />Payment of retainage withheld during <br />for all AMI System components <br />Phase II <br />delivered during Phase II <br />All Equipment prices shall be fixed until December 31, 2025, or until all products required for <br />the project are delivered, whichever first occurs, and only for the quantities of materials specified <br />herein. The foregoing price lock is contingent upon ERMU ordering all materials required for <br />the project upon contract execution. Thereafter prices will be subject to increase based on prices <br />then prevailing. <br />7. Invoice and Payment <br />Invoices <br />Distributor will issue invoices to ERMU in accordance with Section 6. Invoices shall be emailed <br />electronically to invoicegermumn.com with a copy to mtietzgermumn.com. ERMU will <br />review, approve, and pay each undisputed invoice within thirty (30) days of receiving such <br />invoice and other documents as requested by ERMU to support the contents of the invoice. <br />Elk River Municipal Utilities <br />47 <br />Core & Main LP <br />