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<br />3.4.2 Each material change (deletion or addition) in the services to be provided by P&A <br />must be authorized by the City on the Authorization of Change in Services form attached <br />to this Agreement as Attachment D. Compensation for additional services will be in <br />addition to that specified for Basic Services in accordance with Section 5.2 of this <br />Agreement. The approval of the City's governing body is necessary for all additional <br />services the compensation for which exceeds $15,000. <br /> <br />ARTICLE 4 <br />THE CITY'S RESPONSIBILITIES <br /> <br />The City will: <br /> <br />4.1 Provide full information to P&A regarding the City's requirements for P&A's services <br />under this Agreement. The City will furnish P&A with data and information in the City's <br />possession needed by P&A at P&A's request. <br /> <br />4.2 Designate Bill White, Finance Director, as the City's Project Manager and authorized <br />representative to act on the City's behalf with respect to this Agreement. The City will <br />examine the documents and information submitted by P&A and promptly render responses <br />to P&A on issues requiring a decision by the City. <br /> <br />4.3 Will select and identify to P&A a custodian that will maintain portfolio assets. <br /> <br />4.4 The City will bear all costs incident to this Article. <br /> <br />ARTICLE 5 <br />COMPENSATION <br /> <br />5.1 PAYMENTS ON ACCOUNT OF BASIC SERVICES <br /> <br />5.1.1 Payments for Basic Services will be made to P&A annually in quarterly installments <br />following receipt by City of P&A's invoices by the fifth business day of each month following <br />the end of each calendar quarter. Payment of said invoices will be made within ten (10) <br />business days after City's receipt of the invoice. Partial payments will be pro-rated <br />appropriately. <br /> <br />5.1.2 P&A will furnish at its own expense all necessary administrative services, office <br />space, equipment, clerical personnel, telephone and other communication facilities, <br />investment advisory facilities, insurance premiums, and executive and supervisory <br />personnel for managing the investments. <br /> <br />5.2 PAYMENTS ON ACCOUNT OF ADDITIONAL SERVICES <br /> <br />5.2.1 Payments on account of P&A's Additional Services as defined in Section 3.4 will be <br /> <br />7 <br />