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1 <br /> AMENDMENT NO. 2 PROFESSIONAL SERVICES AGREEMENT <br />This Amendment to Professional Services Agreement (“Amendment”) is effective as of <br />last signature below, and is between the City of Everett, a Washington municipal corporation (the <br />“City”), and the person identified as the Service Provider below (“Service Provider”). The City and <br />Service Provider are parties to the Professional Services Agreement described below, as may be <br />previously amended ("Agreement"). In consideration of the covenants, terms and conditions set <br />forth below, and for good and valuable consideration, the receipt and sufficiency of which are <br />hereby acknowledged, the City and Service Provider agree to amend the Agreement as set forth <br />below: <br />Service Provider PFM Financial Advisors LLC <br />City Project Manager <br />Heide Brillantes <br />HBrillantes@everettwa.gov <br />Original <br />Agreement Date <br /> <br />7/29/2014 <br /> <br />AMENDMENTS <br />New Completion Date (Section 3) August 15, 2028 <br />Compensation (Section 4.B) <br />The following replaces Section 4.B for Work after August 15, 2024: <br /> <br />The compensation schedule for competitive and negotiated sales of long- <br />term financings will be billed at closing as follows: <br /> <br />Bond Size Issuance Fee <br />For financings up to $25 <br />million <br />$35,000 <br />For financings between $25 <br />million and $75 million <br />$35,000 plus $0.80 per $1,000 <br />over $25 million <br />For financings over $75 <br />million <br />$75,000 plus $0.45 per $1,000 <br />over $75 million <br /> <br />For advisory services provided in connection with debt issued on a direct- <br />placement basis (i.e., directly to a commercial bank), Service Provider will <br />charge a fee equivalent to 70% of the fee schedule shown above. <br />