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La Porte Redevelopment Authority June 10,2015 ' <br /> c/o Hawes Hill Calderon,LLP Page 2 <br /> C. We will prepare a reimbursement report for the benefit of the City, including the 1 <br /> accountant's report and schedule of amounts reimbursable to the Developers. <br /> D. We will be available to attend a meeting to present the report, and to answer questions <br /> relating to the report. <br /> The objective of this agreed-upon procedures engagement will be to assist you in evaluating the ' <br /> reasonableness of the aforementioned costs. Because the above procedures will not be sufficient <br /> to constitute an audit made in accordance with generally accepted auditing standards,we will not <br /> express an opinion on the aforementioned reimbursable costs. However, we will report to you <br /> any matters that come to our attention that causes us to believe that the aforementioned costs are <br /> incorrect. In addition, this agreed-upon procedures engagement is not primarily or specifically <br /> designed, and cannot be relied upon, to disclose defalcations and other similar irregularities, <br /> although their discovery may result. <br /> This report of agreed-upon procedures is for the exclusive use of the Board of Directors of the <br /> Authority, and should not be distributed to or made available to persons or entities outside of the <br /> Board, nor should the report be associated with the presentation of any financial data of the <br /> Authority except as required by the specific agreement and the Texas Open Records Act. Chris <br /> Swedlund is the engagement partner and is responsible for supervising the engagement and <br /> signing the report or authorizing another individual to sign the report. <br /> The charge for this work will be at the firm's regular hourly rates. A portion of the cost of these <br /> procedures will be determined by the condition of the records submitted by the developer to be <br /> reimbursed. Billing will be made when the final report is issued. <br /> The hourly rates are as follows: <br /> • Clerical Services$70-$85 per hour <br /> • Staff Professional $85-$135 per hour ' <br /> • Senior Professional or Manager$130-$175 per hour <br /> • Principal at$250 per hour <br /> We estimate the cost of performing these procedures on your behalf to range between$5,000 and <br /> $7,000. <br /> You agree that any dispute regarding this engagement will, prior to resorting to litigation, be , <br /> submitted to mediation upon written request by either party. Both parties agree to try in good <br /> faith to settle the dispute in mediation. The American Arbitration Association will administer <br /> any such mediation in accordance with its Commercial Mediation Rules. The results of the <br /> mediation proceeding shall be binding only if each of us agrees to be bound. We will share any <br /> costs of mediation proceedings equally. ' <br />