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<br />Date of Knowledge is the quarter during which MMC notifies the State Board of Equalization of <br />the existence of a misallocation. As used herein, the Date of Correction refers to the quarter in <br />which the taxpayer has correctly reported the local tax and the SSE distributes the local tax <br />properly to City based on the taxpayer's reporting. For QDR Misallocations detected and <br />corrected, MMC's compensation shall only include the quarters in which the misallocation <br />actually occurred. <br /> <br />City Respon~ibilities <br /> <br />MMC's services performed hereunder may result in corrections of misallocations after cessation <br />of services by MMC for City. Therefore, City agrees that with regards to misallocations <br />identified to the State Board of Equalization whose Date of Knowledge occurred during MMC's <br />performance of services for City, that City's obligation to pay MMC in accordance with the above <br />compensation language shall survive expiration or termination of this Agreement for any reason. <br /> <br />In the event that City identifies, documents, and notifies the State Board of Equalization of a <br />reporting error or misallocation as those terms are used herein, City agrees to notify MMC of <br />City's discovery no later than ten (10) days after the Date of Knowledge. If City fails to so notify <br />MMC and MMC later detects, documents, and reports the misallocation or reporting error to the <br />State Board of Equalization, or if MMC has established a Date of Knowledge with the State <br />Board of Equalization prior to notification to the Board by City, then MMC shall be entitled to <br />compensation for the affected account in accordance with this Addendum. <br /> <br />EXECUTED as of the day and year last stated below. <br /> <br />MBIA MuniServices Company/MMC <br /> <br />CITY OF REDWOOD CITY <br />A Municipal Corporation <br /> <br />BY~~ <br /> <br />Marc Hennan -....... <br /> <br />~ <br /> <br />By: <br /> <br />Title: President. <br />Date: "J...j j.. ~ I \) ~r <br />, <br /> <br />Title: <br />Date: <br /> <br />c~ f1~ <br />V¡¡ hr- <br />, <br /> <br />By: <br /> <br />þ-~ <br />~ <br />--.. <br />evin Cerutti <br /> <br />~~~~ >~ <br /> <br />CITY CLERK <br /> <br />Title: Chief Financ,jal Officer <br /> <br />Date: <br /> <br />~ / ~ 'J...! ()~ <br /> <br />APPROVED AS TO FORM: <br /> <br />APPROVED AS TO FORM: <br /> <br />~~- <br /> <br />Neil Ackerman, Corpor?te Counsel <br /> <br />CITY ATTORNEY <br />