Res 2006-131 - Laserfiche WebLink

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AMENDMENT NO.2 TO ECONOMIC DEVELOPMENT SERVICES AGREEMENT This is Amendment No. 2 to the Economic Development Services Agreement (the "Agreement") between the City of San Marcos, Texas (the "City"), a Texas municipal corporation, and Global Marketeer Group, Inc. ("GMG"), a Texas corporation. RECITALS: 1. The City Economic Development Board has recommended that the Agreement be revised by removing the monthly limit on expenditures. 2. The City Council wishes to approve an amendment to the Agreement as recommended by the City Economic Development Board. Amendment The City and GMG agree to amend Section 3.A of the Agreement as follows (underlining indicates added text; overstrike indicates deleted text): A. Payments. The City will pay to GMG an amount not to exceed $244,795 in each of the first two years of this Agreement for GMG's services provided under this Agreement. The City will make payments to GMG as follows: 1. GMG will submit to the City and to the Board no later than the 15th day of each month an itemized invoice describing GMG's expenditures under this Agreement for the previous month for review and approval by the Board. Baeh invoice '.vill be in un amount that does not exceed $20,399.58. In addition to such invoices, GMG may submit a one-time invoice for moving expenses for the Economic Development Director's relocation to the City in an amount that does not exceed $2,500. 2. The Board will approve, disapprove, or approve with modifications each invoice within 15 days of receipt from GMG. GMG may resubmit, with modifications or corrections, an invoice that is disapproved by the Board. The Board may request additional information from GMG related to invoices. The City will pay to GMG the amount of each approved invoice within 10 days of its approval by the Board.