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AGREEMENT <br /> <br /> <br />as described in PROPOSAL (Exhibit A) TO THE CITY OF LA PORTE is made effective <br />as of the Effective Date (defined below) between the City of La Porte <br />Bay Area Houston Economic Partnership 501 (c)(6) not for <br />profit organization. <br /> <br />Contract Term: <br /> <br />This Agreement is effective on the Effective Date signed and remains in effect for three <br />(3) years thereafter, unless sooner terminated under this agreement. <br /> <br />Services: <br /> <br />Contractor agrees to provide the services described in Exhibit A. <br /> <br />Payment Term: <br /> <br />The City shall pay $20,000 per year, in semi- <br />economic development services rendered under this Agreement. Initial payment to <br />Contractor is due within thirty (30) days of the Effective Date. <br /> <br />Effective Date: <br /> <br />This Agreement shall be effective as of January 1, 2022. <br /> <br />Termination for Convenience by the City: <br /> <br />The City may terminate this Agreement at any time by giving thirty (30) <br />cumulative of all rights and remedies, which exist now or in the future. <br /> <br />On receiving the notice, Contractor shall, unless the notice directs otherwise, immediately <br />discontinue all services under this Agreement and cancel all existing orders and <br />subcontracts that are chargeable to this Agreement. As soon as practicable after receiving <br />the termination notice the City shall then honor payment terms for services rendered under <br />this agreement unless the fees exceed the allocated funds remaining under this Agreement. <br /> <br />TERMINATION OF THIS AGREEMENT AND RECEIPT OF PAYMENT FOR <br />CONSTITUTE A DEFAULT OR BREACH OF THIS AGREEMENT. CONTRACTOR <br />WAIVES ANY CLAIM (OTHER THAN ITS CLAIM FOR PAYMENT AS SPECIFIED <br />1 <br /> <br />