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<br />26 <br /> <br />FRED SAFFER UTILITY CONSULTANTS, INC. <br />CONSULTING AGREEMENT <br /> <br />SECTION 1. This Agreement is between FRED SAFFER UTILITY <br />CONSULTANTS, INC. (hereinafter referred to as "Consultant") a <br />corporation domiciled in Orange County, Florida and the City of <br />San Marcos, Texas, by and through its Electric utility Board, <br />(hereinafter referred to as the "Client") 630 E. Hopkins, San <br />Marcos, Texas. <br /> <br />SECTION 2. The Client employs Consultant, and Consultant agrees <br />to be employed, to furnish consulting services with respect to <br />the following matters: <br /> <br />See Schedule "A" attached hereto <br /> <br />SECTION 3. The term of this Agreement shall be for the length <br />of time set forth in Section 10. The Client or Consultant may <br />suspend or terminate any or all services covered by this <br />Agreement at any time upon written notice, in which event the <br />Client shall pay the Consultant, upon submission of invoices, for <br />all services rendered and expenses incurred to the effective date <br />of such suspension or termination. <br /> <br />SECTION 4. For services furnished, the Client will pay the <br />Consultant at Consultant's offices in Orange County, Florida, <br />upon submission of monthly invoices, an amount equal to the <br />actual hours of services furnished by Executive Consultants <br />multiplied by $90.00 per hour, Senior Consultants multiplied by <br />$70.00 per hour, and Consultants multiplied by $50.00 per hour. <br />The Client will also reimburse Consultant monthly for copy costs <br />and out-of-pocket expenses including but not limited to <br />transportation to and from Consultant's city and state, and <br />locally in Client's location; lodging, meal costs and <br />communications. The monthly invoice shall be due and payable <br />within fifteen (15) days from receipt of invoice. All balances <br />not paid within thirty (30) days from the date of statement shall <br />bear interest at the highest rate allowed by law. <br /> <br />SECTION 5. Consultant will furnish its best advice to the <br />Client concerning the matters appearing in Section 2 hereof. <br />However, Consultant does not warrant or represent that its <br />recommendations will succeed in every instance or that <br />circumstances will not change so as to render advice obsolete. <br /> <br />SECTION 6. Consultant shall be deemed to be an independent <br />contractor. Consultant will be permitted to engage in the <br />performance of any other business or services. <br />