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Agmt26 Pacific Secured Equities
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Agmt26 Pacific Secured Equities
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Last modified
7/17/2026 12:29:45 PM
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7/17/2026 12:29:43 PM
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Agreement
PROJECT NAME
Pacific Secured Equities DBA Intercare Holdings Insurance Services_Amendment No.2
RMP File Number
304
Date
6/24/2026
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REV: 05-13-26 MI <br />AMENDMENT NO. 2 TO AGREEMENT FOR CLAIMS ADMINISTRATION SERVICES <br />Pacific Secured Equities <br />DBA Intercare Holdings Insurance Services, Inc. <br />This Amendment No. 2 (the “Amendment No. 2”) is entered into and effective as <br />of _________________, 2026, by and between the City of Redwood City, a charter city <br />and municipal corporation of the State of California (“City”), and Pacific Secured Equities <br />DBA Intercare Holdings Insurance Services, Inc., a California corporation (“Consultant”) <br />(collectively, the “Parties”). <br />RECITALS <br />A. The Parties previously executed that certain Agreement For Claims <br />Administration Services, dated as of July 1, 2022, (the “Original Agreement”). <br />B. The Parties previously executed Amendment No. 1 to the Original <br />Agreement, dated as of July 25, 2025 (“Amendment No. 1”) (the Original Agreement and <br />Amendment No. 1 are collectively known as the “Agreement”). <br />C. The Parties have negotiated and agreed to the terms and conditions set <br />forth in this Amendment No. 2, including any terms and conditions of the attached Exhibit <br />“A,” incorporated herein by reference. <br />NOW, THEREFORE, in consideration of these recitals and the mutual covenants <br />contained herein, the Parties agree as follows: <br />1. Consultant will provide the additional services set forth in Exhibit “A” of this <br />Amendment No. 2, and such services will be considered part of the Services for purposes <br />of the Agreement. <br />2. City will pay Consultant a not-to-exceed amount of Five Hundred Forty-Five <br />Thousand One Hundred Sixty-Eight Dollars and Forty-Two Cents ($545,168.42) for the <br />completion of all the services described in Exhibit “A” of this Amendment No. 2, which <br />sum will include all costs or expenses incurred by Consultant. Including all amendments <br />through Amendment No. 2, the total amount payable under the Agreement will be a not- <br />to-exceed amount of Two Million Five Hundred Seventy-Nine Thousand Two Hundred <br />Eighty-Two Dollars and Eighty-Four Cents ($2,579,282.84). <br />3. The term of the Agreement is hereby extended for an additional one year period. <br />Including all extensions through this Amendment No. 2, the total term of the Agreement <br />is five years, expiring on June 30, 2027. <br />4. All other provisions of the Agreement will remain in full force and effect. <br />5. All requisite insurance policies to be maintained by Consultant pursuant to the <br />Agreement will include coverage for this Amendment No. 2. <br />ATTY/AGR.2026/Amend. No.2/Pacific Secured Equities DBA Intercare Holdings Insurance Services, Inc. (Amendment No.2) (Page 1 of 4) <br />June 24
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