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<br />12. <br /> <br />PROFESSIONAL SERVICES AGREEMENT <br /> <br />This AGREEMENT is made this the ??nil day of M::JTrh ,2005, between the <br />City of San Marcos, Texas ("City"), 630 East Hopkins, San Marcos, Texas 78666 and Patterson <br />Capital Management, LP, d/b/a Patterson and Associates (the "Consultant"), 301 Congress <br />Avenue, Suite 570, Austin, Texas 78701 for the provision of professional investment advisory <br />services (the "Project"). <br /> <br />The City and the Consultant agree as follows: <br /> <br />ARTICLE 1 <br />DEFINITIONS <br /> <br />1.1 Authorized Investments means those investments authorized and defined in the City's <br />Investment Policy. <br /> <br />1.2 Authorized Representative(s) of the City means any duly authorized officer or employee <br />of the City designated in writing by the City as an authorized representative to execute <br />instructions and take other necessary actions under this Agreement on behalf of the City. <br /> <br />1.3 Authorized Representative(s) of the Consultant means any employee of the Consultant <br />who is designated in writing by the Consultant as an authorized representative of the Consultant <br />for the purposes ofthis Agreement. <br /> <br />1.4 City Investment Policy means the policy attached to this Agreement as Attachment A. <br /> <br />1.5 Letter of Instructions means a written authorization and direction to an authorized <br />representative of the Consultant signed by an authorized representative of the City. <br /> <br />ARTICLE 2 <br />CONSULTANT'S SERVICES AND RESPONSIBILITIES <br /> <br />2.1 STANDARDS OF PERFORMANCE <br /> <br />2.1.1 The performance of all services by the Consultant in connection with this Agreement <br />will be by persons appropriately licensed and/or registered under State, Federal and local laws. <br />In performing all services under this Agreement, the Consultant will use that degree of care and <br />skill ordinarily exercised for similar projects by professional investment advisors who possess <br />special expertise in the types of services involved under this Agreement. <br /> <br />2.1.2 No work under this Agreement will be subcontracted by the Consultant without prior <br />written approval from the City. Any work or services subcontracted under this Agreement will <br />be specified by separate written Agreement and will be subject to each provision of this <br />Agreement. <br /> <br />1 <br />