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PROFESSIONAL SERVICES AGREEMENT BETWEEN INDIAN RIVER COUNTY, FLORIDA AND RAFTELIS FINANCIAL CONSULTANTS, INC. FOR A COMPREHENSIVE WATER, WASTEWATER, AND RECLAIMED WATER RATE STUDY This Consulting Agreement ("Agreement") is entered into this 18 day of July , 2017 (hereinafter referred to as the Effective Date) by and between Indian River County, Florida (the "County" or "Client") and Raftelis Financial Consultants, Inc., 227 W. Trade Street, Suite 1400, Charlotte, NC 28202 ("Raftelis" or "Consultant"). Witnesseth WHEREAS, Consultant has substantial skill and experience in water and wastewater finance, management, and pricing; and WHEREAS, the Client desires to hire Raftelis, and Raftelis desires to provide services to the Client, NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree to the terms and conditions set forth herein. Article 1. Statement of Work Raftelis shall provide professional consulting services to prepare a utility rate study for the Client. Raftelis will perform these services as set forth in more detail in Attachment A. Article 2. Time for Completion This Agreement will commence upon approval by the Client and remain in effect for a period of one year. Further renewals of this Agreement are at the option of the Parties and shall be in writing. Article 3. Compensation Client shall pay to Raftelis the sum not to exceed Ninety-nine Thousand Four Hundred Dollars ($99,400.00), which includes professional fees and direct expenses incurred in performing the scope of services outlined in Attachment A. This sum is based upon the scope of work contained herein at Raftelis' current standard hourly rate schedule included in Attachment B. . The Consultant shall invoice the Client upon the completion of each task or deliverable in accordance with the Project Schedule, or on a monthly basis if the Project Schedule does not otherwise specify. The Client shall pay Consultant in accordance with the Local Government Prompt Payment Act. Article 4. Additional Services At the Client's request, Raftelis may submit change orders or proposals for additional professional services. Each change order or proposal submitted shall detail: (1) scope of work for the additional services, (2) period of services to be performed, and (3) method and amount of compensation. The Client shall provide written acceptance and authorization to Raftelis prior to the commencement of work on any proposed additional services. Each change order or proposal for additional services accepted and approved by the Client shall Page 1 of 6