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5.2 Billing Format: The Law Firm will submit monthly statements, for both retainer and non-retainer matters, itemizing legal services rendered for the prior month broken down into categories. These categories shall include: retainer, non-retainer contested case, and non-retainer developer reimbursable. 5.3 Billing Cycle: The Law Firm will bill monthly for legal services rendered in the prior month. Generally, bills will go out approximately 20 days after the end of the prior month. 5.4 Payment Expectations: The City will pay the bill of the Law Firm within 30 days or less of its receipt of the bill by forwarding a check to the Law Firm paying for both legal services and expenses shown on the Law Firm's bill. 5.5 Disputes: In the event that the City disputes any aspect of the Law Firm's bill, the appropriate City representative will contact Jay T. Squires at the Law Firm stating the nature of the dispute. The parties pledge their mutual good faith in resolving any disputes. 5.6 Interest: Because the City will be paying the Law Firm's bills within 30-days from their receipt, no interest will be charged. If the City determines that it will be necessary to deviate from that payment schedule, then it will notify the Law Firm. An interest rate of 8% per annum will be charged to the City if it elects a payment schedule greater than 30-days, subject to change as may be mutually agreed between the parties. 5.7 Term: The term of this Agreement will be from November l, 2002 to October 31, 2005, subject to the following provisions: During the term of the Agreement, either party may terminate the Agreement upon 30 calendar days written notice to the other party; 2. On or about December 31, 2003 and December 31, 2004, the parties agree to mutually evaluate the usage of legal services during the prior year of this Contract in order to evaluate usage and identify areas where modification(s) in the parties' relationship may be mutually beneficial. S