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REV: 01-10-24 MI <br />2. Fees <br />2.1. Beginning January 1, 2024, until December 31, 2025, the fees for <br />performing audit Services shall be $2,500.00 per property. <br />2.1.1. Beginning January 1, 2026, the fees will be increased as of January <br />1st of each calendar year with reference to the 12-month percent <br />change in the most recently published annual Consumer Price Index <br />for All Urban Consumers (CPI-U), West Region, as reported by the <br />U.S. Bureau of Labor Statistics (the “CPI Change”). Each annual <br />increase in the Fees will be equal to the greater of two percent (2%) <br />or the actual CPI Change and the lesser of ten percent (10%) or the <br />actual CPI Change. For example, if the actual CPI Change is 1.5%, <br />then the annual increase will be 2%, if the actual CPI Change is <br />3.5%, then the annual increase will be 3.5%, and if the actual CPI <br />Change is 12%, then the annual increase will be 10%. <br />2.2. Fees related to travel and lodging expenses are billed at cost and apply to <br />all meetings (including implementation, training, operations and support). <br />2.3. Fees will be invoiced monthly to the City for Services performed during the <br />prior month. The City will submit payment for any balance due to Consultant <br />within 30 days of receiving the invoice. <br />ATTY/AGR.2024/Amend. No.1/Hinderliter, de Llamas and Associates (HdL) (Revenue Enhancement and Business License Compliance) (Page 5 of 5)