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Exhibit B <br />Budget and Payment Schedule <br />The City shall pay the Artist a fixed fee of $150,000, which shall constitute full and complete <br />compensation for all the services performed and material furnished by the Artist under this <br />Agreement. Payment shall be made in accordance with the following milestones: <br />a. $45,000 (30%) upon the execution of this Agreement. <br />b. $30,000 (20%) upon completion of 1/3 of the fabrication process (determined by the <br />Artist). <br />c. $30,000 (20%) upon completion of 2/3 of the fabrication process (determined by the <br />Artist). <br />d. $30,000 (20%) upon full completion of fabrication and notification to the City by the <br />Artist, prior to delivery and installation at the Site <br />e. $15,000 (10%) upon installation and notification of completion by the Artist as set <br />forth under Section 1.7(a). <br />Upon completion of each milestone, the Artist shall submit a written invoice to the City <br />requesting payment. The Artist shall include documentation of work completed in the form <br />of photographs and written descriptions to indicate completion of milestone. The City shall <br />submit payment with in 10 days of receipt of invoice. <br />14 <br />