Agenda - Economic Development Authority - 03/10/2022

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Tungsten Redevelopment TIF Analysis COMPENSATION We propose to provide services on an hourly basis with the following key staff: • Project Principal, Michael Fischer $290/hour • Project Manager $165/hour • Project Architect/Inspector $145/hour • Project Coordinator $ 95/hour Compensation shall be on an hourly basis, with a not to exceed Amount including reimbursable expenses, for the inspection of the properties and reports. The Hourly not to exceed amount will vary depending on the number of buildings: 1 building $4,400 2 buildings $6,200 3 buildings $8,100 4 buildings $9,800 PAYMENT TERMS Payments are due and payable upon receipt of our invoice. Unpaid balances 60-days after invoice date shall bear interest at the rate of 8% per annum or 0.67% per month on the unpaid balance. Failure to make timely payment to LHB is a material breach of this Agreement and may, at LHB's sole discretion, result in a suspension or termination of services, and may, at LHB's sole discretion, result in the termination of the Client's limited license authorization to use LHB's copyrighted Instruments of Service. ADDITIONAL SERVICES If there is a material change in the circumstances or conditions that affect the scope of work, schedule, allocation of risks or other material terms, LHB shall notify Client. Client and LHB shall promptly and in good faith enter negotiation to address the changed conditions including equitable adjustment to compensation. The fees and costs for any additional services will be based upon LHB's Standard Hourly Rate Schedule and Reimbursable Expenses Schedule. SCHEDULE LHB can proceed to start the Work upon receipt of a signed copy of this Agreement. The final report typically requires 45 to 60 days to complete from the time we are authorized to start. We can make preliminary conclusions prior to our full report being completed, if necessary, to allow other consultants and the client to begin their work. CONSEQUENTIAL DAMAGES LHB and Client waive consequential damages for claims, disputes or other matters in question arising out of, or relating to, this Agreement. LIMITATION OF LIABILITY To the maximum extent permitted by law, Client agrees to limit LHB's liability for Client's damages to the sum of Ten Thousand Dollars ($10,000) or LHB's fee, whichever is greater. This limitation shall apply regardless of the cause of action or legal theory pled or asserted. USE OF LHB'S DOCUMENTS The documents prepared by LHB, including Documents in electronic format, are solely for use with respect to this Project. All Documents prepared or furnished by LHB pursuant to this Agreement are the Instruments of Service to the Project and LHB shall retain all common law, statutory and other reserved rights, including copyright. LHB grants to Client a nonexclusive limited Agreement for Investigative Reports-TIF Analysis LHB V1.0 0612021