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<br />3û -17 <br /> <br />Brian J. Panty, Finance Director <br />City of Redwood City <br />September 10, 1999 <br />Page 2 <br /> <br />investment contract entered into with respect to the investment of bond proceeds, and (8) the bonds are issued prior <br />to June 9. 2000 (nine months from the date of this letter). If the assumptions in clauses (1) through (7) above are <br />correct, and the transaction closes prior to March 9, 2000 (six months from the date of this letter). we will reduce our <br />fee to $25,000. If the assumptions in any of clauses (1) through (8) prove to be incorrect, we would expect that City <br />Staff would negotiate with us as to an appropriate increase in our fee. given the applicable circumstances. <br /> <br />Please give me a call if you have any questions regarding the foregoing or the accompanying Legal <br />Services agreement. I look forward to working with you and the other members of the City's financing team on this <br />interesting transaction. <br /> <br />Very truly yours. <br /> <br />Paul J. Thimmig, Esq. <br /> <br />PJT:cra <br />Enclosure <br /> <br />cc: (via fax) <br />William Euphrat (415) 929-1440 <br /> <br />.~._. ._- T <br />