K-5 - Audit Bid from Bergan KDV - 2022

2. Conditions of Payment: A. It is understood that the fees for the services set forth above shall be reimbursed at the following hourly rates: <table> <tr> <th>Classification</th> <th>Estimated Hours</th> <th>Hourly Rate</th> </tr> <tr> <td>Partner</td> <td>15</td> <td>$240</td> </tr> <tr> <td>Manager</td> <td>50</td> <td>$160</td> </tr> <tr> <td>Staff</td> <td>70</td> <td>$100</td> </tr> <tr> <td></td> <td></td> <td></td> </tr> <tr> <td></td> <td></td> <td></td> </tr> </table> B. The CPA shall present an invoice for services in the following manner: As services progress and billed at completion of each phase of the audit. C. Payment shall be made within 60 days of receipt of invoice. D. The total reimbursement shall not be for more than $19,900, except as specifically agreed by the City of Tiffin and the CPA. 3. Termination of Agreement: A. The CITY OF TIFFIN may terminate this contract without notice if the CPA fails to perform the covenants or agreements contained herein. B. The CPA shall be paid for all work satisfactorily performed to the date of termination. IT WITNESS THEREOF, THE CITY OF TIFFIN and CPA have executed this AGREEMENT as of the date indicated below: CPA By Nancy Schulzetenberg Title Partner Date January 24, 2023 CITY OF TIFFIN By ____________________________ Title __________________________ Date __________________________