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�.�.- �i� <br /> . specific audit activity. Accordingly, the CITY shall pay MMC twenty-five <br /> percent (25%) of the additional revenues, including interest and penalties, that <br /> MMC is able to reasonably substantiate has resulted from its CITY-specific <br /> compliance review activities. Said 25% applies to the additional revenue <br /> received by the CITY for the first twelve quarters following the correction of <br /> the error/omission. In addition, MMC may seek to recover all revenue due the <br /> CITY from prior periods, if any. In that case, MMC will also receive 25% of <br /> any retroactive recovery. <br /> 2. Notwithstanding subsection (1) above, nothing herein shall prohibit the parties <br /> from entering into a written agreement on compensation for CITY-specific <br /> audit services on a fixed fee or any other separately negotiated basis. <br /> 3. In the event that any legal services from LAW FIRM are required in <br /> connection with a CITY-specific audit, the cost of such services to the CITY <br /> shall be paid by MMC, and MMC shall disclose to the CITY the financial <br /> arrangement between MMC and LAW FIRM regarding the payment of such <br /> costs. <br /> D. CITY's Obligations <br /> Regarding the CITY-specific compliance review activities of MMC in Sections 4 and <br /> 6(C) above, the CITY agrees to: <br /> 1. Invoice the responsible party for tax deficiencies (plus interest and penalties if <br /> applicable) identified and confirmed by MMC within thirty (30) days <br /> following receipt of MMC's detection report or correspondence; <br /> 2. Provide MMC with a copy of any settlement agreement with a taxpayer/tax <br /> collector within ten (10) days of entering into such agreement; and; <br /> 3. Notify MMC w-ithin ten (10) days following receipt by the CITY of payments <br /> (cash; installment, or other compensation directly benefiting the CITY) of <br /> such tax deficiencies, whether invoiced or not. Upon receipt of such notice, <br /> MMC will promptly in��oice the CITY. MMC's compensation is due and <br /> payable within thirty (30) days of the CITY's receipt of MMC's invoice. <br /> E. MMC Expenses <br /> MMC shall absorb all expenses incurred by MMC in providing its services as <br /> described herein. These expenses include items such as employee salaries and <br /> benefits, insurance, airfare, auto rentals, meals, lodging, Federal Express, mail, <br /> telephone, copying, directories, on-line resources, and other overhead and <br /> miscellaneous expenses. <br /> 7. TERMINATION OF AGREEMENT <br /> A. Either the CITY or MMC may terminate this AGREEMENT, by thirty (30) days prior <br /> • written notice as provided in this Section. <br /> B. If the CITY terminates this AGREEMENT at any time within twenty-four (24) <br /> months following the effective date of this AGREEMENT, the CITY shall <br /> nevertheless pay MMC eight (8) quarterly payments from the commencement of the <br /> AGREEMENT to compensate MMC for its waiver of fees for past services rendered <br /> Agmt-4 I 2 $ <br /> F:/Shared/RedHOOd/Council <br /> FXS:djk <br /> 10/13%00 _ <br />