O-1992-1807 - Laserfiche WebLink

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Mr. Robert T. Herrera February 4, 1992 Page 2 . . 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 S&R are relatively self-explanatory, in that they describe generally the work done from time to time and the relevant dates. S & R and the City agree that it is at all times S & R's intent under this agreement to charge the City a reasonable fee for the professional services rendered. While the statements rendered by S & R 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 S & R's fees. The City and S & R 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. S&R has not required a deposit in connection with this engagement, but reserves the right to request one. Should S&R request a deposit, it will be held in the trust account of S&R 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. If the deposit is required, interest will not be paid thereon. Cash Outlays The City authorizes S&R to retain and agrees to pay the fees or charges of every other person or entity engaged by S&R to perform services related to the Representation 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 S&R, 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 S&R, in which latter event the City agrees promptly to reimburse S&R for the full payment of such statements. The City acknowledges that S&R may incur various expenses in providing services to the City. The City agrees to reimburse S&R for all out-of-pocket expenses paid by S&R,