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COMPENSATION <br />The total cost under this Agreement is not to exceed $50,000. In the event that <br />Consultant and City amend the Agreement to enter into one 1 -year extension, the total <br />cost shall not exceed $60,000. The following table provides a breakdown of pricing by <br />service components and commission rates. The commission rate fee will be deducted <br />from the amounts collected by Consultant, then the balance of such collections will be <br />paid to City on a monthly basis. Consultant agrees to concept of "no collection = no <br />fees." <br />Service Description <br />Grace Period <br />Accounts which are paid to the City within <br />Fourteen (14) days of the account being <br />placed with Consultant and are reported to <br />Consultant as such would incur no <br />commission charged from Consultant. <br />Regular Collection <br />25% commission rate fee only applied to <br />amounts collected, either by Consultant or <br />by City, after the fourteen -day grace <br />period. <br />Legal Collection <br />35% commission rate fee only applied to <br />amounts collected during the legal process <br />that will require pre -approval by written <br />agreement with the City on a case-by-case <br />basis. Consultant fronts all legal and court <br />costs, so there is no expense for City in <br />going to legal action. <br />Other Costs <br />Consultant does not charge any listing <br />fees, no monthly fees, no per account fees <br />(beside the commission rates listed above) <br />and there is no fee for cancelling an <br />account out of collection services at any <br />time. <br />REV: 04-24-19 DZ <br />Page 10 of 10 <br />ATTY/AGR.2019.107/Collection Bureau of America - Third Party Debt Collection <br />