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CONTRACT OF AGREEMENT BETWEEN CITY OF EVERETT, WA AND MICHAEL <br />BAILEY, LOCAL GOVERNMENT FINANCE CONSULTANT <br />CONTRACT <br />The following is a professional service contract ("Agreement") between Michael E. <br />Bailey ("Consultant") and the City of Everett, Washington ("CITY"). In consideration of <br />their mutual representations, warranties and promises as set forth below, the CITY <br />and Consultant agree to the following: <br />SCOPE OF SERVICES <br />The Consultant will provide services as described in the Scope of Services (Exhibit A) <br />under this Agreement. <br />CHANGES & AMENDMENTS <br />Additional services may be included on an "as needed basis", as determined by the <br />CITY. It is anticipated that the CITY may, from time to time, require changes, <br />amendments, or modifications to the scope of work. The parties mutually agree to <br />accept additional duties as assigned by the CITY and they shall be incorporated in <br />written addendums to the Scope of Services (Exhibit A). <br />TERM OF AGREEMENT <br />The parties agree that the period of service by the Consultant will commence on <br />August 27, 2024, and conclude on December 31, 2024 at which point both parties will <br />evaluate continuation of the Agreement. <br />OWNERSHIP OF DOCUMENTS <br />All work products, papers, notes, memoranda, correspondence, drawings, <br />specifications, reports, and other documents and records of any sort produced, <br />received, held or maintained in conjunction with the performance of this Agreement by <br />the Consultant shall be and are the exclusive property of the CITY, except that the <br />Consultant may use such materials to assist other public agencies. Upon request of the <br />CITY, or upon completion of any of the services provided for in this Agreement, or upon <br />termination of this Agreement for any reason, the Consultant shall deliver to the CITY, <br />machine -reproducible in format acceptable to the CITY copies of any and all such <br />materials. <br />BUDGET <br />The budget allocated for this Scope of Services shall not exceed $10,000.00. <br />INDEPENDENT CONTRACTOR <br />The Consultant is and shall be at all times during the term of this Agreement, an <br />independent contractor and not an employee of the CITY. The parties fully understand <br />the nature of independent contractor status and intend to create an independent <br />contractor relationship. The Consultant, and not the CITY, shall have the right to control <br />Professional Services Agreement 1 <br />