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December 9, 2015 <br />City of Gem Lake <br />Page 6 <br />Responsibilities and limitations related to nonaudit services <br />For all :nonaudit services we may provide to you, management agrees -to assume all management <br />responsibilities; oversee the services bydesignating an individual,:preferably•within senior management, <br />who possesses suitable skill, knowledge, and/or experience tQ understand: and oversee the services; <br />evaluate the adequacy and results 'of the services; and accept `resppnslbillty for the .results. of :the <br />services. <br />The responsibilities and limitations related to the nonaudit services. performed as part of this <br />engagement are as follows: <br />We will prepare a -draft of your financial staterner is .and .related notes. Since the preparation <br />and fair presentation of the financial statements is your responsibility,. you Will be requlred:to <br />acknowledge in the representation letter our assistance with preparation Of *the financial <br />statements and that you have reviewed arid• approved the financial statemeinis..artd related <br />notes prior to their issuance and have accepted. responsibility for those fluanclal statements. <br />You have a responsibility to be in a position in fact and appearance• to 'make an. informed <br />judgment on those. financial statements. <br />Use of financial -statements <br />The financial statements and our report thereon are for managament's -use. If you Intend to reproduce <br />and publish the financial statements and our report thereon, they roust -be reproduced' in their entlrety. <br />Inclusion of the audited financial statements in a. document, such as -an annual report or an offering <br />document, should be done only with our•priof approval of the document. You: -are respohs€ble•to provide <br />us the:opportunity.to. review such documents before issuance. <br />Should you.dacide to include of incorporate by reference these financial statements and %fr auditors' <br />report(s) thereon In a future private. -placement or other offering. ofequity :or•debt:securities,. ou agree- <br />V. <br />that we are under -no obligation to re-€ssue-our report or provide. consent for -the use of our. report In. <br />such a registration.or offering document. We will determine,. at our sole discretion, whether we will re- <br />lssue .our- report or provide consent for the use of our reportt only after we have performed the <br />procedures We -consider necessary in the circumstances. If we decide•tore4ssue our report or consent to <br />theuse of our report, we will be required to perform certain procedures including,, Out not limited to,. (a) <br />reading other information incorporated by reference to the registration statement or other' offering <br />document and (b).subsequent event procedures, These. procedures will be considered an engagement <br />separate and distinct from our audit engagement, and we will bill you separately: If we decide to re- <br />issue our report or consent to: -the use of our report, you agree that we will be included orI each <br />distribution of draft offering materials and we will receive. a. cdmplete set of final documents: If we. <br />decide not to re -issue our report or decide to withhold our consent to the use of our report, you -may be <br />required to engage another•firm to audit periods covered- by bur audit'reports, and that firm will likely <br />bill you for its services, While the successor auditor may request- access to our workpapers for those <br />periods, we.are under no obligation to permit.such access. <br />