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December 9, 2015 <br />City of Gem Lake <br />Page 9 <br />Fees <br />our fees for these.services will be $10,850. This fee includes travel and other out-of-pocket costs such <br />as report production, .word processing, postage, etc_, and Internal and administrative charges. The fee <br />estimate is based on anticipated cooperation from your personnel and their assistance with. preparing <br />confirmations and. requested schedules. if the requested items.are not.avallable on the dates required <br />or are not accurate, the estimated fee for services will likely be higher. if significant additional time is <br />necessary, we will provide detailed billing analysis of the additional hours and costs incurred. Our <br />invoices for these fees will. be rendered each month as work progresses: and are. payable on <br />presentation. In accordance.with our firm policies, work may be suspended if your account becomes 60 <br />days or more .ove.rdue and will not be resumed until. your account is paid in fui.l. If we elect to terminate <br />our services for nonpayment, ou.r engagement will be deemed to have. been completed even if we have <br />not issued our reports; You will be obligated to compensate usfor all time expended and to reimburse <br />us for all out-of-pocket:expendiitures through the date of termination. <br />Other fees <br />You also agree to compensate us for any time. and expenses, including time and expenses of legal <br />counsel; we. may incur in responding to discovery requests or participating.as a witness or otherwise in <br />any legal, regulatory, or other proceedings that we are asked to respond to omyou r beha.If. You and your <br />attorney will receive a copy of every subpoena or request we are asked to respond to. You .can control <br />the costs of any discovery processor document. request. by informing us which requests you would like <br />us to act on. <br />Finance charges aad collection expenses <br />You agree that if any statement. is not paid within 30 days from its date, the unpaid balanceshall accrue <br />interest at: the monthly rate of one and one -quarter percent (1.25%e), which is an annual percentage rate <br />:of 151%. In the event. that any collection action is. required to collect unpaid balances due us, reasonable <br />attorney fees and expenses small be recoverable. <br />Consent <br />Cansent to use financial Wormation <br />Annually, we assemble. a variety of ben chmarking analyses using client data obtained through our audit <br />and other engagements. Some of this benchmarking information. is published and released publicly. <br />However, the information that we obtain is confidential, as required by JET Section 301 of the AIC.PA <br />Code of Professional Conduct. Your acceptance.of this engagement .letter will serve as your consent: .to <br />use of the City of Gem Lake's information in these cost comparison, performance indicator, and�or <br />benchmarking reports. <br />Subcontractors <br />CLA may, at times, use subcontractors to perform services under this agreement, and they:may have <br />access toyour information and records. Any such:subcontractors will besubject to the same: restrictiions. <br />on the use of such information and records. as apply to CLA under this agreement. <br />