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client information. The City specifically acknowledges that it understands <br />the confidentialityrisks associated with inadvertent interception. <br />5. Billing Format, Cycle, Payment Expectations and Interests. <br />3.� Retainers: The retainers for the retainer services described in Paragraph 1 <br />shall be as set forth in Recital paragraph 3. <br />�,� Billing Format: The Law Firm will submit monthly statements, for both <br />retainer and non-retainer matters, itemizing legal services rendered for the <br />prior month broken down into categories. These categories shall include: <br />retainer, non-retainer contested case, and non-retainer developer <br />reimbursable. <br />3.3 Billing Cycle: The Law Firm will bill monthly for legal services rendered in <br />the prior month. Generally, bills will go out approximately 20 days after the <br />end of the prior month. <br />�.� Payment Expectations: The City will pay the bill of the Law Firm within <br />30 days or less of its receipt of the bill by forwarding a check to the Law <br />Firm paying for both legal services and expenses shown on the Law Firm's <br />bill. <br />�.� Disputes: In the event that the City disputes any aspect of the Law Firm's <br />bill, the appropriate City representative will contact Jay T. Squires at the <br />Law Firm stating the nature of the dispute. The parties pledge their mutual <br />good faith in resolving any disputes. <br />5.[� Interest: Because the City will be paying the Law Firm's bills within 30 <br />days from their receipt, no interest will be charged. If the City determines <br />that it will be necessary to deviate from that payment schedule, then it will <br />notify the Law Firm. An interest rate of 8% per annum will be charged to <br />the City if it elects a payment schedule greater than 30 days, subject to <br />change as may be mutually agreed between the parties. <br />�.� Term: The term of this Agreement will be from November 1,2005 to <br />October 31,2008, subject to the following provision: <br />During the term of the Agreement, either party may terminate the <br />Agreement upon 30 calendar days written notice to the other party. <br />_ ..� <br />