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3. METHOD OF PAYMENT Bond Counsel shall submit a monthly statement specifying <br />the services performed, dates and number of hours, and an itemization of expenses related thereto <br />with supporting documentation (i.e. receipts, invoices, copy of check, etc.). City acknowledges <br />that the fees incurred for work performed by Bond Counsel on its behalf are due and owing within <br />60 days of the work being performed. At Bond Counsel's discretion, they may choose to defer <br />payment. Notwithstanding this, City agrees that it shall tender payment within 60 days of written <br />demand by Bond Counsel for payment. Unless expressly stated thereon, monthly statements <br />generated by Bond Counsel shall not constitute written demand, but shall simply be a written <br />reflection of work performed and fees incurred. <br />4. CONTROL OF LEGAL MATTERS Bond Counsel agrees that each and every matter or <br />proceeding in which they undertake to assist the City , as aforesaid, shall be and remain under, and <br />subject to the control and direction of City at all stages, and that they shall at all times keep the City <br />informed of all matters pertaining thereto. City will keep Bond Counsel informed of all significant <br />developments in matters relating to any representation undertaken by Bond Counsel. Bond Counsel <br />further agrees, if and when their retention hereunder is terminated by City, as hereinafter specified, <br />they shall return to City any and all files then in their possession concerning each and every matter <br />or proceeding in which they represented the City pursuant to this Agreement. <br />5. REPORTING REOUIREMENTS Bond Counsel agrees to keep the City, and any other <br />person(s) designated by the City , informed of significant events in the Actions, including but not <br />limited to trial date, filing of motions for summary judgment, hearing date for motion for summary <br />judgment, settlement conference date, and mediation date. <br />6. TERM The term of this Agreement shall commence on the date first written above and <br />terminate on August 16, 2022, unless terminated earlier pursuant to Section 15 below. The term of <br />this Agreement may be extended for up to one (1) year upon a writing executed by both parties, <br />including the City Manager and the City Attorney. <br />7. INDEPENDENT CONTRACTORS It is mutually agreed by and between the parties that, <br />in the performance of their covenants hereunder, Bond Counsel is and shall be independent <br />contractors, and not officers or employees of City. <br />4831-7382-2682v21200434-0005 <br />