04-06-09 Regular Meeting of the La Porte Development Corporation Board of Directors

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Page 2 - La Porte Main Street Project IV. CONSULTANT FEES: Consultant will provide the services outlined in section III at the following rate schedule: A Total Fee of Nine Thousand Six Hundred Dollars and no cents ($ 9,600.00) payable as follows: 50% = $ 4,800.00 due upon execution of agreement 50% = $ 4,800.00 due upon completion of project. * *Estimated project completion = May 31, 2009 V. REIMBURSABLE EXPENSES: Consultant or members of his staff are entitled to reimbursement of out-of-pocket expenses made on behalf of Client. Such expenses, however, shall be pre- approved by Client. Consultant shall submit a detailed expense report for out-of- pocket expenses, supported by receipts. VI. PAYMENT OF INVOICES: Invoices are due and payable within five days of receipt. A late charge of 1.5% per month on any unpaid balance shall be applied cumulatively on all balances unpaid over thirty (30) days. VII. COLLECTION: In the event it is necessary to enforce the terms of this agreement by legal proceedings, Client agrees to pay Consultants legal fees and such other costs required. VIII. DISCLOSURE: Client agrees to provide Consultant with information vital to the professional execution of duties as contracted for between Client and Consultant. Access to Client's Jobsite is required for execution of duties. Involvement in decision- making procedures is also required in order for Consultant to maximize results of his efforts. IX. TERMINA TION OF CONTRACT: This agreement may be terminated by either party upon fifteen (15) days written notice. Upon such termination all fees due through that date and all expenses are immediately due and payable All job records, other than copies necessary for compliance with income statutes, will be surrendered by Consultant to Client upon payment in full.