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<br />120 <br /> <br />FRED SAFFER UTILITY CONSULTANTS, INC. CONSULTING AGREEMENT <br /> <br />SEcrI'ION 1. <br /> <br />This <br /> <br />Agreement <br /> <br />is <br /> <br />between <br /> <br />FRED <br /> <br />SAFFER <br /> <br />UTILITY <br /> <br />CONSULTANTS, <br /> <br />INC. <br /> <br />(hereinafter <br /> <br />referred <br /> <br />to <br /> <br />as <br /> <br />IIConsultantll) <br /> <br />a <br /> <br />corporation domiciled in Orange County, <br /> <br />Florida and the CITY OF SAN <br /> <br />MARCOS, TEXAS, by and through its Electric Utility Board, <br /> <br />(hereinafter <br /> <br />referred to as the IIClientll) 630 East Hopkins, San Marcos, Texas. <br /> <br />SECTION 2. <br /> <br />The <br /> <br />Client <br /> <br />employs <br /> <br />Consultant, <br /> <br />and <br /> <br />Consultant <br /> <br />agrees <br /> <br />to be <br /> <br />employed, <br /> <br />to <br /> <br />furnish <br /> <br />consulting <br /> <br />services <br /> <br />relating <br /> <br />to <br /> <br />electric utility operations by the City the cost for which shall not <br /> <br />exceed fifteen thousand dollars and no/100s ($15,000.00), when and as <br /> <br />requested by the Client and/or the Client's Representative under the <br /> <br />operating Agreement between the Client and the Lower <br /> <br />Colorado <br /> <br />River <br /> <br />Authority. <br /> <br />SECTION 3. <br /> <br />The <br /> <br />term of this Agreement shall be for the length <br /> <br />of time set forth in Section 10. <br /> <br />The Client or Consultant may suspend <br /> <br />or terminate any or all services covered by this Agreement at any time <br /> <br />upon <br /> <br />written <br /> <br />notice, <br /> <br />in <br /> <br />whi ch <br /> <br />event <br /> <br />the <br /> <br />Client <br /> <br />shall <br /> <br />pay <br /> <br />the <br /> <br />Consultant, upon submission of invoices, for all services rendered and <br /> <br />expenses <br /> <br />incurred <br /> <br />to <br /> <br />the <br /> <br />effective <br /> <br />date <br /> <br />of <br /> <br />such <br /> <br />suspension <br /> <br />or <br /> <br />termination. <br /> <br />SECTION 4. <br /> <br />For services furnished, the <br /> <br />Client <br /> <br />will <br /> <br />pay <br /> <br />the <br /> <br />Consultant <br /> <br />at <br /> <br />Consultant's <br /> <br />offices <br /> <br />in <br /> <br />Orange <br /> <br />County, <br /> <br />Florida, <br /> <br />upon <br /> <br />submission of monthly invoices, an amount equal to the actual hours of <br /> <br />services furnished by Executive Consultants multiplied by $90.00 per <br /> <br />hour, Senior Consultants multiplied by $70.00 per hour, and Consultants <br /> <br />multiplied <br /> <br />by <br /> <br />$50.00 <br /> <br />per <br /> <br />hour. <br /> <br />The <br /> <br />Client <br /> <br />will <br /> <br />also <br /> <br />reimburse <br /> <br />Consultant <br /> <br />monthly <br /> <br />for <br /> <br />copy <br /> <br />costs <br /> <br />transportation <br /> <br />to <br /> <br />and <br /> <br />from <br /> <br />Consultant's city and state, and locally in Client's location; lodging, <br /> <br />meal costs and communications. <br /> <br />The monthly invoice shall be due and <br /> <br />payable within fifteen (15) days from receipt of invoice. <br /> <br />All balances <br /> <br />not paid within thirty (30) days from the date of statement shall bear <br /> <br />interest at the highest rate allowed by law. <br /> <br />SECTION 5. <br /> <br />Consultant <br /> <br />will <br /> <br />furnish <br /> <br />its <br /> <br />best <br /> <br />advice to the <br /> <br />Client concerning the ma.tters appearing in Section 2 hereof. <br /> <br />However, <br /> <br />Consultant does not warrant or represent that its recommendations <br /> <br />will <br /> <br />-1- <br />