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Honorable Mayor and City Commissioners City of Sunny Isles Beach May 4, 2007 Page 7 Circular A-133. If there is more than one (I) program to be tested as a major program, as determined under the requirements of OMB Circular A-I33, we will discuss the additional fees with you. In addition, if the City is subject to the Florida Single Audit Act, the additional fee will be $ for the year ended September 30, 2007; $ for the year ended September 30, 2008 and $_ for the year ended September 30, 2009 This fee is dependent on the number of state programs that have to be tested as a major program in accordance with the requirements of the Florida Single Audit Act. If there is more than one (1) program to be tested as a major program, as determined under the requirements of the Florida Single Audit Act, we will discuss the additional fees with you. Our invoices for these fees will be rendered as the work progresses, and are payable on presentation. In accordance with our firm policies, should any invoices remain unpaid for more than thirty days, we reserve the right to defer providing any additional services until all outstanding invoices are paid. A late payment charge of I % per month will be added to all unpaid balances after thirty days. You agree that we are not responsible for the impact on the City of any delay that results from such non-payment by you. I I I I I I l l ~ l ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ We acknowledge your right to terminate our services at any time, and you acknowledge our right to resign at any time (including instances where in our judgment, our independence has been impaired or we can no longer rely on the integrity of management), subject in either case to our right to payment for charges incurred to the date of termination or resignation. [t is our goal to maintain a constructive and positive relationship with you. If for any reason you are dissatisfied with the quality or costs of our services, please let us know so we can discuss and, hopefully, rectify the problem. Should we be unable to amicably resolve any such dispute, we believe a prompt and fair resolution, without the time and expense of formal court proceedings, would be in our mutual interests. To this end, we both agree that any controversy (including fee disputes and malpractice claims) we may have shall be submitted to binding arbitration to be conducted in Florida before the American Arbitration Association (AAA) in accordance with the Commercial Arbitration Rules of the AAA. We both waive any right to bring a court action, or to have a jury trial, and agree that the party prevailing in any arbitration shall be entitled to recover from the non-prevailing party its reasonable attorney's fees and costs, including fees and costs which might be incurred in litigation related to the arbitration. In accordance with our firm's policy, the terms of this engagement letter are subject to approval by our internal Client Acceptance Committee. Government Auditing Standards require that we provide you with a copy of our most recent external peer review report and any letter of comment, and any subsequent peer review reports and letters of comment received during the period of the contract. Our most recent peer review report has been provided to you.