06-10-13 Regular Meeting of La Porte City Council

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AGREEMENT THIS AGREEMENT FOR ECONOMIC DEVELOPMENT SERVICES (“Agreement”), as described in PROPOSAL (Exhibit A) TO THE CITY OF LA PORTE is made City of La Porte, Texas effective as of the Effective Date (defined below) between the Bay Area Houston Economic Partnership (“City”),a municipal corporation,and the (“Contractor”), a Texas 501 (c)(6) not for profit organization. Contract Term: This Agreement is effective on the Effective Date defined hereinand remains in effect for three (3) years thereafter, unless sooner terminated under this Agreement. Services : Contractor agrees to provide the services described in Exhibit Ato this Agreement. Payment Term: The City shall pay $20,000.00per yearto Contractor, in semi-annual installmentsof $10,000.00 each, for Contractor’s economic development services rendered under this Agreement. Initial payment to Contractor is due within thirty (30) days of the Effective Date. Effective Date: This Agreement shall beeffective as of January 1, 2013. Termination for Convenience by the City: The City may terminate this Agreement at any time by giving thirty(30)days’ written notice to Contractor. The City’s right to terminate this Agreement for convenience is cumulative of all rights and remedies, which exist now or in the future. On receiving the notice, Contractor shall, unless the notice directs otherwise, immediately discontinue all services under this Agreement and cancel all existing orders and subcontracts that are chargeable to this Agreement.As soon as practicable after receiving sending the termination notice the City shall then honor payment terms for services rendered by Contractor under this Agreementto the date of the termination,unless the fees exceed the allocated funds remaining under this Agreement. TERMINATION OF THIS AGREEMENT AND RECEIPT OF PAYMENT FOR SERVICES RENDERED TO THE DATE OF TERMINATIONARE CONTRACTOR’S ONLY REMEDIES FOR THE CORPORATION’S CITY’STERMINATION FOR 1