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Exhibits A & B <br /> Certificate of Insurance <br /> <br /> PROFESSIONAL SERVICES AGREEMENT <br /> <br /> THIS AGREEMENT is entered into this __ day of May 2005, between the CITY <br />OF PLEASANTON, a municipal corporation ("City"), and Bay Area Economics (BAE) whose <br />address is 2560 9t~ Street, Berkeley, CA 94710, and telephone number is 510-549-7310 <br />("Consultant"). <br /> <br /> RECITALS <br /> <br /> A. Consultant is qualified and experienced in providing economic development <br />consultant services for the purposes specified in this Agreement. <br /> <br /> B. City finds it necessary and advisable to use the services of Consultant for the <br />purposes provided in this Agreement. <br /> <br /> NOW THEREFORE, in consideration of the mutual covenants and conditions in this <br />Agreement, City and Consultant agree as follows: <br /> <br /> 1. Consultant's Services. Consultant shall diligently perform the services and <br />furnish the materials, reports, drawings, and related materials described in Exhibit "A", Scope of <br />Work, attached and incorporated to the extent consistent with this Agreement. <br /> <br /> 2. City Assistance. In order to assist Consultant in this work, City shall provide, if <br />necessary, background material, business and development data, and direction as appropriate. <br /> <br /> 3. Staff. Consultant shall assign Janet Smith-Heimer to serve as managing <br />principal, and Jonathan Stem as project manager, who may not be replaced without written <br />consent of City. <br /> <br /> 4. Term. Time is of the essence. Consultant shall begin work as soon as possible <br />after execution of this agreement. The work as described in Exhibit "A", Scope of Work, shall <br />be completed by November 30, 2005. This contract may be extended by mutual agreement, in <br />writing. <br /> <br /> 5. Compensation. For the services to be rendered, City shall pay Consultant <br />$87,000 (eighty-seven thousand dollars), as described more particularly in Exhibit "B," which is <br />attached and incorporated to the extent consistent with this Agreement. Payment shall be made <br />on a monthly basis upon receipt and approval of Consultant's invoice. Total compensation for <br />services and reimbursement for costs shall not exceed $87,000, unless the parties agree pursuant <br />to section 8. <br /> <br /> a. Invoices submitted to City must contain a brief description of work <br />performed, percentage of work completed, percentage of contract time used, percentage of <br /> <br /> BAE Contract Page I of 5 <br /> May, 2005 <br /> <br /> <br />