O-1994-1961 - Laserfiche WebLink

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January 1, 1994 Page 2 e e " Schedule of Billing and Payments The City agrees to pay for services rendered and expenses incurred within 30 days after the dates of statements for such fees and expenses. Amounts unpaid after 90 days shall bear interest until paid at the rate of 10% per annum. It is contemplated that statements will be rendered on a monthly basis in order to avoid undue enlargement of the account, although statements may be rendered less frequently. The statements of the Firm are relatively self-explanatory, in that they describe generally the work done from time to time and the relevant dates. ' The Firm and the City agree that it is at all times the Firm's intent under this agreement to charge the City a reasonable fee for the professional services rendered. While the statements rendered by the Firm are intended to be self-explanatory in their description of the work performed, the City has the right to request such additional information it reasonably deems necessary to confirm the reasonableness of the Firm's fees. The City and the Firm further agree that in the unlikely event they are unable to resolve any dispute that may arise over the reasonableness of a fee, they shall submit any such dispute to binding resolution by the Houston Bar Association Attorneys Fee Dispute Committee. The Firm has not required a deposit in connection with this engagement, but reserves the right to request one. Should the Firm request a deposit, it will be held in the trust account of the Firm and, in its sole discretion, applied to the City's last billing or any unpaid account. Payment of this deposit would not be a substitute for current payment of invoices; the deposit, if required, would merely be security for the payment obligation. H the deposit is required, interest will not be paid thereon. Cash Outlays The City authorizes the Firm to retain and agrees to pay the fees or charges of every other person or entity engaged by the Firm to perform services related to the Representa- tion Matters. Such other persons and entities may include, for example, court reporters, appraisers, real estate agents, escrow agents, accountants, investigators, expert witnesses, title examiners and surveyors. The City authorizes the Firm, in our discretion, to direct such other persons and companies to render statements for services rendered and expenses advanced either directly to City or to the Firm, in which latter event the City agrees promptly to reimburse the Firm for the full payment of such statements.