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AGREEMENT FOR PROFESSIONAL CONSULTANT SERVICES THIS AGREEMENT is made and entered into this 251h day of August , 1998, by and between the Redevelopment Agency for the City of Riverside, a public entity, hereinafter referred to as "Agency," and Desmond, Marcello & Amster, 400 Corporate Pointe, Suite 700, Culver City, CA 90230, hereinafter referred to as "Consultant." WITNESSETH: WHEREAS, Agency requires the assistance of a consultant that is experienced in providing economic analysis and financial analysis to public clients and is familiar with the plans of the Agency; WHEREAS, Consultant has the necessary experience in providing professional consulting services and advice on various issues affecting the decisions of the Agency staff regarding economic analysis and financial analysis concerning development agreements and development opportunities in the Agency's seven redevelopment project areas and on other programs and matters affecting the Agency; and WHEREAS, selection of Consultant will maintain project continuity and is expected to achieve the desired results in an expedited fashion; and WHEREAS, Consultant has submitted a proposal to 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. 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 its professional skill and expertise. 3. Term. The term of this Agreement shall be from the date stated above to June 30, 1999, unless earlier terminated as provided herein. 4. Personnel. Consultant shall furnish all personnel necessary to perform the services and shall be responsible for their performance and compensation. Consultant recognizes that the qualifications and experience of the personnel to be used are vital to professional and timely completion of the services. The key personnel listed in Exhibit "B" attached hereto and incorporated herein by this reference and assigned to perform portions of the services shall remain assigned through completion of the services, unless otherwise mutually agreed by the parties in writing, or caused by hardship or resignation in which case substitutes shall be subject to Agency approval.