Loading...
17-0516 KOSMONT & ASSOCIATES, INC_Professional Services Agreement Amd No. 1AMENDMENT NO. I TO THE PROFESSIONAL SERVICES AGREEMENT BETWEEN TI -IE CITY OF SAN JUAN CAPIS 1`RANO AND KOSMONT & ASSOCIATES, INC. I. Parties and Bate. This Amendment No.1 to the Professional Services Agreement is made and entered into as of this 16 day of .May, by and betv�een the City of Sari ,Juan Capistrano, a municipal organization organized under the laves of the State of California with its principal place of business at 32400 Paseo Adelanto, San Juan Capistrano, California 92675 ("City") and Kosmont & Associates. Inc., doing business as Kosmont Companies, a real estate advisory consulting firm with its principle place of business at 1601 N. Sepulveda Blvd. #382, Manhattan. Beach. CA 90266 "Consultant". City and Consultant are sometimes individually referred to as `'Party" and collectively as *'Parties," 2. Recitals. 2.1 Consultant. The City and Kosmont Companies have entered into a Professional Services Agreerrrent dated December 1, 2016, ("Agreement") for the purpose of retaining the services of Kosmont Companies to provide real estate advisory consulting services in connection with the City's review and negotiation of a management agreement for the operation of the Rancho Mission Viejo Riding Park. 2.2 Amendment Purpose. The City and Kosmont Companies desire to amend the Agreement to increase the compensation amount of the Agreement due to the City's need to expand the services provided by Consultant. 3. Compensation. 3.1 Amendment, Section 2(a) of the Agreement is hereby amended in its entirety to read as follows, Section 2h. Conipgmtion. In no event shall the total amount paid for services rendered by Consultant under this Agreement exceed the sum of` $45,000, plus reasonable expenses, Fees incurred to cover all printing and related costs, shall not exceed $2,000. Periodic payments shall be made within 30 days of receipt of an invoice which includes a detailed description of the work performed. Payments to Consultant for work, perfornicd wilt be made on a month billing basis. 3.3 COtItinrriMl Effect of Agreement. E-xcept as amended by this Amendment No. 1, all other provisions of the Agreement remain in full force and effect and shall govern the actions of the parties under this Amendment No. 1. From and after the date of this Amendrrrent No. 1" whenever the term "Agreement" appears in the Agreement, it shall mean the Agreement as amended by this Amendment No. 1. Page I of 3 b 114702 1 oil\2 8051 15 1 3.4 Adeoua - te Consideration. The Parties hereto irrevocably stipulate and agree thatthey have each received adequate and independent consideration for the performance of the obligations they have undertaken pursuant to this Amendment No, I - 3,5 Scvci'ab � If any portion of this Amendment No, I is declared invalid, illegal ii'lly. I , or otherwise unenforceable by a court of competent'jurisdiction, the remaining provisions shall continue in full force and effect. [Signatures on Next Page] Page 2 of 3 61147 M I 0OX29805115 I SIGNATURE PAGE AMENDMENT NO. 1 TO THE PERSONAL SERVICES AGREEMENT BETWEEN THE CITY OF SAN JUAN CAPISTRANO AND KOSMONT & ASSOCIATES, INC. CITY OF SAN JUAN CAPISTRANO KOSMONT & ASSOCIATES, INC. Approved By. ��5 All Benjam)h Siegel, City Manager Signatur 5 -23 - Date A y: aria.Morris, Ci le k Approved As To Form: City Attorney 61147 02100\29605115.1 L"AA l . -r, "i I r"v'7— Name 'TName PR c:'-!5 Title Date Page 3 of 3