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WHEREAS, Consultant represents that it possesses the experience, and <br />is qualified to perform the aforesaid services for the Project; <br /> <br /> NOW, THEREFORE, the parties hereto agree as follows: <br /> <br /> 1. CONSULTANT'S SERVICES. Consultant shall perform professional <br />consulting services described in Exhibit "A" (consisting of letter proposal and <br />GASB 34 implementation work plan dated July 21, 2000), attached hereto and <br />by this reference incorporated herein. <br /> <br /> 2. COMPENSATION; EXPENSES; PAYMENT. City shall compensate <br />Consultant for all services performed by Consultant hereunder in an amount <br />based upon Consultant's rate in the combination of three cities. A copy of <br />Consultant's rate for which services hereunder shall be performed is set forth in <br />Exhibit "A". <br /> <br /> Notwithstanding the foregoing, the combined total of compensation and <br />reimbursement of costs payable hereunder shall not exceed the sum of Fifteen <br />Thousand and No/100 Dollars ($15,000.00) unless the performance of services <br />and/or reimbursement of costs and expenses in excess of said amounts have <br />been approved in advance of performing such services or incurring such costs <br />and expenses by City's City Council, evidenced by motion duly made and <br />carried. <br /> <br /> Compensation and reimbursement of costs and expenses hereunder shall <br />be payable upon monthly billing therefor by Consultant to City, which billing shall <br /> <br />Agmt-437 2 <br />F:\shared\Redwood\Cou ncil <br />DES:djk <br />01/18/01 <br /> <br /> <br />