HomeMy WebLinkAboutContract 32265 CITY S'ECRETARY
ONTPACT NO.
Amendment to City Secretary Contract No. 31262
Professional Services Agreement with Public Enterprise Group, Incorporated
This amendment to City Secretary Contract No. 31262 is made and entered into
by and between the City of Fort Worth, a home-rule corporation located in Tarrant,
Denton and Wise Counties (herein after referred to as the "City"), acting hereby and
through its duly authorized City Manager, Charles Boswell and Public Enterprise
Group, Incorporated (herein after referred to as "PEG") acting hereby and through its
Principal Don Schulte.
WHEREAS, on Junel, 2004, the City of Fort Worth and Public Enterprise
Group, Incorporated entered into an agreement known as City Secretary Contract No.
31262, on file in the Office of the City Secretary of Fort Worth, to assist the City in the
development of public-private partnerships for the purpose of securing sponsors for the
City;
WHEREAS, the City of Fort Worth and Public Enterprise Group, Incorporated
desire to amend Section VI "Fee" of City Secretary Contract No. 31262, to clarify the
formula of calculation of the commission to be paid to Public Enterprise Group,
Incorporated under the terms of the contract.
NOW,THEREFORE KNOW ALL PERSONS BY THESE PRESENTS:
That the City and PEG, for and in good and valuable consideration of the mutual
covenants and agreements contained herein, do mutually covenant and agree that City
Secretary Contract No. 31262, on file in the Office of the City Secretary of Fort Worth, is
hereby amended as follows:
1.
City Secretary Contract No. 31262 is hereby modified by amending Section VI.
"FEE", by amending Subsection 6.1.1 "Commission Formula" of Section 6.1 in its
entirety" to read as follows:
6.1.1 Sponsorship Agreement. City shall pay PEG an amount
equal to twelve (12)percent of the City's commission received by the City
that are generated from a sponsorship agreement procured by PEG and
approved and executed by the City. City shall pay PEG said commission
within thirty (30) days following receipt of revenues from a sponsorship
agreement. If the sponsorship agreement is multi-year in nature, and
payments are made annually or in installments, then PEG shall be paid
said commission within thirty (30) days after receipt by the City of
payment from the supplier.
All other terms and conditions of Section 6, which are not herein amended, shall
remain in full force and effect.
2.
That all other terms and conditions of City Secretary Contract No. 31262, shall
remain in full force and effect throughout the term of this agreement.
Executed in the City of Fort Worth, this day of Y1,114005.
ATTEST CITY IOF FORT WORTH
City Secretary 0 City Manager
APPROVED AS TO FORM ;1LrQU$R�D
AND LEGALITY:
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Assistant City Attorney
PUBLIC ENTERPRISE GRO , INCORPORATED
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