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6. Compensation. The County will develop an Estimated Payment calculation for <br />each Service Year using the formulas described in Exhibit C, and shall transmit the <br />payment information to the City according to the schedule described below. The <br />County will also calculate and inform the City as to the Reconciliation Adjustment <br />Amount on or before June 30 of each year, as described in Section 7 below and <br />Exhibit D, in order to reconcile the Estimated Payments made by the City in the <br />prior Service Year. The City will pay the Estimated Payment, and any applicable <br />Reconciliation Adjustment Amounts as follows (a list of payment -related notices <br />and dates is included at Exhibit C-7): <br />a. Service Year 2018: The County will provide the City with a calculation of <br />the Estimated Payment amounts for Service Year 2018 on or before <br />December 15, 2017, which shall be derived from the Estimated 2018 <br />Payment Amount set forth on Exhibit C-1, adjusted if necessary based on <br />the Contracting Cities and other updates to Calendar Year data in Exhibit <br />C-2. The City will pay the County the Estimated Payment Amounts for <br />Service Year 2018 on or before August 15, 2018. The Reconciliation <br />Adjustment Amount for Service Year 2018 shall be paid by the City, or by <br />the County if the calculation shows the City is entitled to receive a payment <br />from the County, on or before August 15, 2019, as described in this section.. <br />b. Service Years after 2018. <br />i. Estimated Payment Determined by December 15. The Estimated <br />Payment amounts for the upcoming Service Year will be determined <br />by the County following adoption of the County's budget and <br />applying the formulas in Exhibit C. <br />ii. Estimated Payments Due August 15. The City will pay the County the <br />Estimated Payment Amount on or before each August 15. <br />iii. The Reconciliation Adjustment Amount for the prior Service Year <br />shall be paid on or before August 15 of the following calendar year, as <br />described in Section 7. <br />iv. If a Party fails to pay an Estimated Payment or Reconciliation <br />Adjustment Amount within 15 days of the date owed, the Party owed <br />shall notify the owing Party that they have ten (10) days to cure non - <br />Document Dated 6-28-17 6 <br />