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AGREEMENT FOR PROFESSIONAL CONSULTANT SERVICES Project Adoption Services Magnolia Center Redevelopment Project THIS AGREEMENT is made and entered into this 6th day of October, 1997 , 1997, by and between the Redevelopment Agency for the City of Riverside, a public entity, hereinafter referred to as "Agency," and GRC Redevelopment Consultants, Inc., 1340 Valley Vista Drive, Suite 120, Diamond Bar, California, 91765, a California Corporation, hereinafter referred to as "Consultant." WITNESSETH: WHEREAS, on February 6, 1997, Agency circulated a Request for Proposals (RFP) expressing its desire to retain a professional redevelopment firm to provide Phase I--Financial Feasibility Analysis Services (Phase I) and, if further determined by Agency, Phase II--Project Adoption Services (Phase II) for the proposed formation of the Magnolia Center Redevelopment Project; and WHEREAS, on February 25, 1997, following an interview and selection process, the Agency authorized the execution of an Agreement for Professional Consultant Services with Consultant for Phase I services to determine if redevelopment is a feasible tool in the revitalization efforts in the Magnolia Center area; and WHEREAS, on July 22, 1997, the Agency accepted the Phase I findings prepared by Consultant, which determined that a redevelopment project area in the Magnolia Center area would be feasible with a moderate amount of new development; and WHEREAS, based on the aforementioned findings, the Agency desires to retain Consultant to provide Phase II services for the proposed Magnolia Center Redevelopment Project; and WHEREAS, the Consultant has submitted a Proposal to the Agency and has affirmed its willingness and ability to perform such work. NOW, THEREFORE, Agency and Consultant agree as follows: 1, Retention of Consultant. Agency retains Consultant to perform, and Consultant agrees to render, those services (hereinafter "the services") defined in Exhibit "A" attached hereto and incorporated herein by this reference in accordance with the terms and conditions set forth herein, The services shall be rendered in accordance with the project schedule also set forth in Exhibit "A." 2, Standard of Performance. While performing the services, Consultant shall exercise the reasonable professional care and skill customarily exercised by reputable members of Consultant's profession practicing in the Metropolitan Southern California Area, and shall use reasonable diligence and best judgment while exercising QA fA e..2fo"Q 7 M--53