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HomeMy WebLinkAboutCRA-R-16-0064 ExhibitPROFESSIONAL SERVICES AGREEMENT THIS AGREEMENT ("Agreement") is entered as of the day of 2016 by and between the OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY, of the City of Miami, a public agency and body corporate created pursuant to Section 163.356, Florida Statutes ("CRA"), and Miguel A. Valentin, an individual person ("Mr. Valentin"). RECITALS A. WHEREAS, the CRA desires to retain a Consultant ("Consultant") to assist with general accounting services and financial operations of the CRA for a 12 month period, beginning retroactively on July 23, 2016, and ending July 22, 2017 (Initial Term"); and B. WHEREAS, upon completion of the Initial Term, the Executive Director of the CRA, at his/her sole discretion, can exercise up to three (3) one (1) year options to renew under the same terms and conditions as described herein; and C. WHEREAS, the Consultant will have a direct and indirect impact on the financial analysis of the CRA, and in assisting CRA staff within the scope of services ("Services") as described more specifically herein; and D. WHEREAS, the Consultant will report directly and solely to the Executive Director of the CRA during the term of this Agreement; and E. WHEREAS, the CRA has determined that Mr. Valentin has special capabilities specifically related to the needs of the CRA, and possesses all necessary qualifications and expertise to perform the Services described in this Agreement; and F. WHEREAS, the Board of Commissioners of the CRA, through RESOLUTION INFORMATION, authorized the CRA's Executive Director to enter into this Agreement with Mr. Valentin to serve as the Consultant for the CRA for the Effective Term by a 4/5ths bid waiver pursuant to the competitive bidding and procurement procedures of the Code of the City of Miami, Florida, as amended; and G. WHEREAS, Mr. Valentin wishes to perform the Services as required by the CRA and the CRA wishes to engage the services of Mr. Valentin under the terms and conditions set forth herein; NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained, Mr. Valentin and the CRA agree as follows: 1 TERMS 1. RECITALS. The recitals are true and correct and are hereby incorporated into and made a part of this Agreement. 2. TERM. The term of this Agreement shall be for one (1) year commencing retroactively on July 23, 2016 and ending its Initial Term on July 22, 2017, but contains three (3) one (1) year options to renew at the sole discretion of the Executive Director of the CRA.. 3. SCOPE OF SERVICES. a. Mr. Valentin agrees to provide Accounting Support Services specifically described in, and subject to the special terms and conditions set forth in Attachment "A" hereto, which is hereby incorporated into and made a part of this Agreement. b. Mr. Valentin represents and warrants to the CRA that: (i) it possesses all qualifications, licenses and expertise required for the performance of Services; (ii) it is not delinquent in the payment of any sums due to the CRA or the City of Miami, including payment of permit fees, occupational licenses, etc., nor in the performance of any obligations to the CRA or the City of Miami; (iii) all personnel assigned to perform Services are, and shall be, at all times during the term hereof, fully qualified, licensed, and trained to perform the tasks assigned to each; and (iv) the Services will be performed in the manner described in Attachment "A." c. Mr. Valentin agrees that it will not retain the services of additional subcontractors without obtaining prior written approval of the CRA which may be withheld in the CRA's sole discretion. Notwithstanding the CRA's approval rights hereunder, Mr. Valentin acknowledges and covenants that it shall be responsible for all services performed by its subcontractors to the same extent as Mr. Valentin had provided said services. 4. COMPENSATION. a. The amount of compensation payable by the CRA to Mr. Valentin shall be based on the rates and schedules described in Attachment "B" hereto; provided, however, that in no event shall the total amount of compensation paid to Mr. Valentin exceed Thirty -Six Thousand and No/100 Dollars ($36,000.00), excluding reimbursable and/or additional expenses as described herein, during each twelve (12) month period during the Effective Term. b. Expenses. The CRA shall reimburse Mr. Valentin for pre -approved expenses incurred by Mr. Valentin in the performance of Services up to a maximum of Two Thousand Five Hundred and No/100 Dollars ($2,500.00) during the Effective Term. All expenses shall be subject to the approval of the CRA's Executive Director or his designee and shall be billed monthly; it being understood and agreed that any expenses in excess of the aforementioned 2 amount shall be the sole responsibility of Mr. Valentin. c. The CRA shall reimburse Mr. Valentin for cellular phone expenses in a not to exceed amount of One Thousand Two Hundred and No/100 Dollars ($1,200.00) per year. d. The CRA shall reimburse Mr. Valentin for mileage expenses in a not to exceed amount of Six Hundred and No/100 Dollars ($600.00) per year. e. Additional Services: At the sole discretion of the Executive Director of the CRA, a written request to Mr. Valentin for additional services ("Additional Services") not enumerated in the Scope of Services, and payment for such Additional Services shall be made on a case by case basis, at the sole discretion of the Executive Director, but in no instance shall exceed a total of Five Thousand and No/100 Dollars ($5,000.00) per each 12 month term period. f. Method of Payment. All payments due hereunder shall be made within forty five (45) days after receipt of Mr. Valentin's invoice, as an Independent Contractor, which shall be accompanied by sufficient supporting documentation and contain sufficient detail, to allow a proper audit of expenditures, should the CRA require one to be performed. If Mr. Valentin is entitled to reimbursement of travel expenses, then all bills for travel expenses shall be submitted in accordance with Section 112.061, Florida Statutes. 5. AUDIT RIGHTS. The CRA may, at reasonable times, and for a period of up to three (3) years following the date of final payment by the CRA to Mr. Valentin under this Agreement, audit, or cause to be audited, those books and records of Mr. Valentin which are related to Mr. Valentin's performance under this Agreement. Mr. Valentin agrees to maintain all such books and records at his principal place of business for a period of three (3) years after final payment is made under this Agreement. 6. AWARD OF AGREEMENT. Mr. Valentin represents and warrants to the CRA that it has not employed or retained any person or company employed by the CRA to solicit or secure this Agreement and that it has not offered to pay, paid, or agreed to pay any person any fee, commission, percentage, brokerage fee, or gift of any kind contingent upon or in connection with, the award of this Agreement. 7. OWNERSHIP OF DOCUMENTS. Mr. Valentin understands and agrees that any information, document, report, or any other material whatsoever which is given by the CRA to Mr. Valentin or which is otherwise obtained or prepared by Mr. Valentin pursuant to or under the terms of this Agreement is and shall at all times remain the property of the CRA. Mr. Valentin agrees not to use any such information, document, report, or material for any other purpose whatsoever without the prior written consent of the CRA, which may be withheld or conditioned by the CRA in its sole discretion. 3 8. PUBLIC RECORDS. Mr. Valentin understands that the public shall have access, at all reasonable times, to all documents and information pertaining to CRA contracts, subject to the provisions of Chapter 119, Florida Statutes, and agrees to allow access by the CRA and the public to all documents subject to disclosure under applicable law. Mr. Valentin shall comply with Section 119.0701, Florida Statutes, including without limitation: (i) keeping and maintaining public records that ordinarily and necessarily would be required by the City to perform the Services; (ii) providing the public with access to public records on the same terms and conditions as the City would at the cost provided by Chapter 119, Florida Statutes, or as otherwise provided by law; (iii) ensuring that public records that are exempt or confidential and exempt from disclosure are not disclosed except as authorized by law; (iv) meeting all requirements for retaining public records and transferring, at no cost, to the City all public records in its possession upon termination of this Agreement and destroying any duplicate public records that are exempt or confidential and exempt from disclosure requirements; and (v) all electronically stored public records shall be provide to the City in a format compatible with the City's information technology systems. Mr. Valentin's failure or refusal to comply with the provisions of this section shall result in the immediate cancellation of this Agreement by the CRA. 9. COMPLIANCE WITH FEDERAL, STATE, AND LOCAL LAWS. Mr. Valentin understands that agreements between private entities and local governments are subject to certain laws and regulations, including laws pertaining to public records, conflict of interest, record keeping, etc. The CRA and Mr. Valentin agree to comply with and observe all applicable federal, state, and local laws, rules, regulations, codes, and ordinances, as may be amended from time to time. 10. SPECIFIC PERFORMANCE. In the event of breach of this Agreement by the CRA, Mr. Valentin may only seek specific performance of this Agreement and any recovery shall be limited to the amount set forth in Sections 4(a) and 4(b) of this Agreement. In no event shall the CRA be liable to Mr. Valentin for any additional compensation, other than that provided herein, or for any consequential or incidental damages. In the event that Mr. Valentin seeks specific performance, each party shall be responsible for its own attorneys' fees and costs. 11. LIMITATION OF LIABILITY. The CRA shall not be responsible for any errors in judgment made in good faith in the performance of its duties hereunder; provided, however, that nothing contained herein shall release the CRA of any responsibility it may have for claims based on the gross negligence or willful misconduct of the CRA. 12. INSURANCE. Mr. Valentin shall, at all times during the term hereof, maintain 4 such insurance coverage as may be reasonably required by the CRA. All such insurance, including renewals, shall be subject to the approval of the CRA (which approval shall not be unreasonably withheld) for adequacy of protection and evidence of such coverage shall be furnished to the CRA on Certificates of Insurance indicating such insurance to be in force and effect and providing that it will not be canceled during the performance of Services under this Agreement without thirty (30) calendar days prior written notice to the CRA. Completed Certificates of Insurance shall be filed with the CRA, to the extent practicable, prior to the performance of Services hereunder, provided, however, that Mr. Valentin shall at any time upon request by the CRA file duplicate copies of the policies of such insurance with the CRA. If, in the reasonable judgment of the CRA, prevailing conditions warrant the provision by Mr. Valentin of additional liability insurance coverage or coverage which is different in kind, the CRA reserves the right to require the provision by Mr. Valentin of an amount of coverage different from the amounts or kind previously required and shall afford written notice of such change in requirements thirty (30) days prior to the date on which the requirements shall take effect. Should Mr. Valentin fail or refuse to satisfy the requirement of changed coverage within thirty (30) days following the CRA's written notice, this Agreement shall be considered terminated on the date the required change in policy coverage would otherwise take effect. Upon such termination, the CRA shall pay Mr. Valentin compensation for services rendered and expenses incurred, prior to the date of termination but shall not be liable to Mr. Valentin for any additional compensation or for any consequential or incidental damages. The CRA shall reimburse Mr. Valentin for all or a portion of any required coverages pursuant to this Agreement, in a not to exceed amount of Two Thousand Five Hundred and No/100 Dollars ($2,500.00). 14. DEFAULT. If either Party fails to comply with any term or condition of this Agreement, or fails to perform any of its obligations hereunder, then such Party Mr. Valentin be in default. Upon the occurrence of a default hereunder, the non -defaulting Party shall notify the defaulting Party in writing in regards to such default, and the defaulting Party shall have thirty (30) days from the date of such written notice, to cure the default ("Cure Period"). If the defaulting Party fails to cure such noticed default within the allotted Cure Period, the non - defaulting Party, in addition to all remedies available to it by law, may immediately, upon written notice to the defaulting Party, terminate this Agreement whereupon all payments or other compensation paid pursuant to the terms herein shall be immediately returned to the CRA or rendered to Mr. Valentin according to the default circumstances. The Parties understand and agrees that termination of this Agreement under this section shall not release either Party from any obligation(s) accruing prior to the effective date of termination. Should Mr. Valentin be 5 unable or unwilling to commence to perform Services within the time provided or contemplated herein, then, in addition to the foregoing, Mr. Valentin shall be liable to the CRA for all expenses incurred by the CRA in preparation and negotiation of this Agreement, as well as all costs and expenses incurred by the CRA in the re -procurement of Services, including consequential and incidental damages. 15. DISPUTES. Mr. Valentin understands and agrees that all disputes between Mr. Valentin and the CRA based upon an alleged violation of the terms of this Agreement by the CRA shall be submitted to the CRA's Executive Director for his resolution prior to Mr. Valentin being entitled to seek judicial relief in connection therewith. In the event that the amount of compensation hereunder exceeds $4,500.00, the decision of the CRA's Executive Director shall be approved or disapproved by the CRA's Boards of Commissioners. Mr. Valentin shall not be entitled to seek judicial relief unless: (i) it has first received the CRA's Executive Director's written decision, approved by the CRA's Boards of Commissioners if the amount of compensation hereunder exceeds $4,500.00; or (ii) a period of sixty (60) days has expired, after Mr. Valentin's submission of a detailed statement of the dispute, accompanied by all supporting documentation, to the CRA's Executive Director (ninety (90) days if the CRA's Executive Director's decision is subject to the CRA's Board of Commissioners' approval); or (iii) the CRA's Boards of Commissioners has waived compliance with the procedure set forth in this section by written instrument, signed by the CRA's Executive Director. 16. PARTIES TERMINATION RIGHTS. a. Each Party shall have the right to terminate this Agreement, in its sole discretion, at any time for convenience and needing no other reason, by giving written notice to the other Party at least thirty (30) calendar days prior to the effective date of such termination. In such event, the CRA shall pay to Mr. Valentin compensation for services rendered and expenses incurred prior to the effective date of termination. Such payment shall be determined on the basis of the percentage of the total work performed by Mr. Valentin up to the time of termination certified in accordance with the provisions of this Agreement. In the event partial payment has been made for professional services not performed, Mr. Valentin shall return such sums to the CRA within ten (10) calendar days after receipt of written notice that said sums are due. In no event, shall the CRA be liable to Mr. Valentin for any additional compensation, other than that provided herein, nor for any consequential or incidental damages. b. The CRA may terminate this Agreement, with written notice to Mr. Valentin, upon the occurrence of an event of default hereunder, after any applicable cure period and in accordance with the terms of Section 14 herein. In such event, the CRA shall not be obligated to 6 pay Mr. Valentin any amounts not specifically owed pursuant to the term contained herein, and Mr. Valentin shall reimburse to the CRA all amounts received while Mr. Valentin was in default under this Agreement. c. Mr. Valentin may terminate this Agreement, with written notice to the CRA, upon the occurrence of an event of default hereunder by the CRA, after any applicable cure period and in accordance with the terms of Section 14 herein. In such event, the CRA shall not be obligated to pay Mr. Valentin any amounts not specifically owed pursuant to the term contained herein, and Mr. Valentin shall reimburse to the CRA all amounts received while Mr. Valentin was in default under this Agreement. 17. FORUM. In case of any controversy or dispute arising out of this Agreement, both parties agree and accept to be subject to the jurisdiction and competence of the Administrative Authorities and Courts in Miami -Dade County, Florida as the exclusive forum for such controversy or disputes forsaking any other jurisdiction which either party may otherwise be entitled to claim. 18. NONDISCRIMINATION. Mr. Valentin represents and warrants to the CRA that Mr. Valentin does not and will not engage in discriminatory practices and that there shall be no discrimination in connection with Mr. Valentin's performance under this Agreement on account of race, color, sex, religion, age, handicap, marital status, or national origin. Mr. Valentin further covenants that no otherwise qualified individual shall, solely by reason of his/her race, color, sex, religion, age, handicap, marital status, or national origin, be excluded from participation in, be denied services, or be subject to discrimination under any provision of this Agreement. 19. CONFLICT OF INTEREST. a. Mr. Valentin is aware of the conflict of interest laws of the City of Miami (Miami City Code Chapter 2, Article V), Miami -Dade County, Florida (Miami -Dade County Code, Section 2-11.1 et. seq.), and of the State of Florida as set forth in the Florida Statutes, and agrees that it will fully comply in all respects with the terms of said laws and any future amendments thereto. b. Mr. Valentin covenants that no person or entity under his employ, presently exercising any functions or responsibilities in connection with this Agreement, has any personal financial interests, direct or indirect, with the CRA. Mr. Valentin further covenants that, in the performance of this Agreement, no person or entity having such conflicting interest shall be utilized in respect to services provided hereunder. Any such conflict of interest(s) on the part of 7 Mr. Valentin, its employees, or associated persons or entities must be disclosed in writing to the CRA. c. Mr. Valentin shall decline proffered employment by another client(s) if the exercise of Mr. Valentin's independent professional judgment on behalf of the CRA on any matter directly related to Services will be or is likely to be adversely affected by the acceptance of such proffered employment; provided, however, that Mr. Valentin may represent a client(s) with an interest adverse to the CRA if the subject matter of such representation is not related to Services described in this Agreement and if the CRA waives any conflict or alleged conflict with respect to such representation in writing. Should Mr. Valentin request the CRA's waiver of any conflict of interest, Mr. Valentin shall provide the CRA, in writing, all information pertaining to such potential conflict for the CRA's evaluation. d. Mr. Valentin shall not delegate the substantive obligations to be undertaken hereunder to any person or entity who exercises any functions or responsibilities on his/her personal behalf or on behalf of any other client(s) if the subject matter of such representation is related to Services and if such representation will or is likely to compete with the interests of the CRA, or adversely affect the interests of the CRA and the obligations undertaken by Mr. Valentin hereunder. 20. ASSIGNMENT. This Agreement shall not be assigned by Mr. Valentin, in whole or in part, without the prior written consent of the CRA, which may be withheld or conditioned, in the CRA's sole discretion. 21. NOTICES. All notices or other communications required under this Agreement shall be in writing and shall be given by hand -delivery or by registered or certified U.S. Mail, return receipt requested, addressed to the other party at the address indicated herein or to such other address as a party may designate by notice given as herein provided. Notice shall be deemed given on the day on which personally delivered or, if by mail, on the fifth day after being posted or the date of actual receipt, whichever is earlier. To Mr. Valentin: Attn: Mr. Miguel Valentin 819 NW 2nd Ave., Miami, Florida 33136 To CRA: Omni Redevelopment District Community Redevelopment Agency 8 1401 N. Miami Avenue 21"I Floor, Miami, FL 33136 Attn: Jason Walker, Executive Director With a copy to: Office of the City Attorney City of Miami 444 S.W. 2nd Avenue 9th Floor, Miami, FL 33130 Attn: Victoria Mendez, City Attorney 22. CHOICE OF LAW. This Agreement shall be construed and enforced according to the laws of the State of Florida. 23. CAPTIONS. The captions or headings of the Sections and other subdivisions hereof are inserted only as a matter of convenience or for reference and shall have no effect on the meaning of the provisions hereof. 24. NONWAIVER OF DEFAULT. No waiver or breach of any provision of this Agreement shall constitute a waiver of any subsequent breach of the same or any other provision hereof and no waiver shall be effective unless made in writing. 25. SEVERABILITY. Should any provision, paragraph, sentence, word, or phrase contained in this Agreement be determined by a court of competent jurisdiction to be invalid, illegal, or otherwise unenforceable under the laws of the State of Florida or the City of Miami, such provision, paragraph, sentence, word, or phrase shall be deemed modified to the extent necessary in order to conform with such laws, or if not modifiable, then same shall be deemed severable, and in either event, the remaining terms and provisions of this Agreement shall remain unmodified and in full force and effect or limitation of its use. 26. CONSTRUCTION. Should the provisions of this Agreement require judicial or arbitral interpretation, it is agreed that the judicial or arbitral body interpreting or construing the same shall not apply the assumption that the terms hereof shall be more strictly construed against one party by reason of the rule of construction that an instrument is to be construed more strictly against the party which itself or through its agents prepared same, it being agreed that the agents of both parties have equally participated in the preparation of this Agreement. 27. THIRD -PARTY BENEFICIARY. No provision of this Agreement shall, in any way, inure to the benefit of any third parties so as to make any such third party a beneficiary of 9 this Agreement, or of any one or more of the terms hereof, or otherwise give rise to any cause of action in any party not a party hereto. 28. SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon the parties hereto, their heirs, executors, legal representatives, successors, or assigns. 29. INDEPENDENT CONTRACTOR. Mr. Valentin has been procured and is being engaged to provide services to the CRA as an independent contractor, and not as an agent or employee of the CRA. Accordingly, as a result of this Agreement, Mr. Valentin shall not attain, nor be entitled to, any rights or benefits under the Civil Service Rules & Regulations or Pension Ordinances of the City of Miami, nor any rights generally afforded its classified or unclassified employees. Mr. Valentin further understands that Florida Workers' Compensation benefits available to employees of the CRA are not available to Mr. Valentin, and agrees to provide workers' compensation insurance for any employee or agent of Mr. Valentin rendering Services to the CRA under this Agreement. 30. CONTINGENCY CLAUSE. Funding for this Agreement is contingent on the availability of funds to the CRA, and the Agreement is subject to amendment or termination due to lack of funds, reduction of funds, or change in regulations. 31. MERGER. This Agreement and its attachments constitute the sole and only agreement of the parties relating to the subject matter hereof and correctly set forth the rights, duties, and obligations of each to the other as of its date. Any prior agreements, promises, negotiations, or representations not expressly set forth in this Agreement are of no force or effect. 32. AMENDMENT AND RESCISSION. This Agreement shall not be modified or rescinded except by written instrument setting forth such modification or rescission signed by all parties hereto. 33. FORCE MAJEURE. a. Force Majeure shall mean an act of God, epidemic, lighting, earthquake, fire, explosion, hurricane, flood or similar occurrence, strike, an act of public enemy, blockade, insurrection, riot, civil disturbance, or similar occurrence, which has a material effect adverse impact on the performance of this Agreement and which cannot be avoided despite the exercise of due diligence. The term Force Majeure DOES NOT INCLUDE inclement weather (except as noted above) or the acts or omissions of Mr. Valentin's subcontractors, third -party contractors of Mr. Valentin if allowed under this Agreement, materialmen, consultants, or their subcontractors, unless such acts or omissions are otherwise encompassed by the definition set forth above. b. No party hereto shall be liable for its failure to carry out its obligations under 10 the Agreement during a period when such party is rendered unable, in whole or in part, by Force Majeure to carry out such obligations, but the obligation of the party or parties relying on such Force Majeure shall be suspended only during the continuance of any inability so caused and for no longer period of said unexpected or uncontrollable event, and such cause shall, so far as possible, be remedied with all reasonable dispatch. c. It is further agreed and stipulated that the right of any party hereto to excuse its failure to perform by reason of Force Majeure shall be conditioned upon such party giving to the other party written notice of its assertion that a Force Majeure delay has occurred as soon as practicable after the occurrence but not later than ten (10) working days after the occurrence, unless there exists good cause for failure to give such notice, in which event, failure to give such notice shall not prejudice any party's right to justify any non-performance as caused by Force Majeure unless the failure to give timely notice causes material prejudice to the other party or parties. 34. COUNTERPARTS. This Agreement may be executed in two or more counterparts, each of which shall constitute an original but all of which, when taken together, shall constitute one and the same agreement. IN WITNESS WHEREOF, the parties hereto have caused this instrument to be executed by their respective officials thereunto duly authorized as of the day and year above written. ATTEST: MR. MIGUEL A. VALENTIN: By: By: ATTEST: OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY of the City of Miami, a public agency and body corporate created pursuant to Section 163.356, Florida Statutes ("CRA") By: By: Todd B. Hannon, Clerk of the Board Jason Walker, Executive Director APPROVED AS TO FORM AND CORRECTNESS: 11 Victoria Mendez City Attorney 12 ATTACHMENT "A" Scope of Work Consultant shall provide the following professional services as needed as part of this Agreement: 1. Prepare financial reports that summarize and forecast the OMNI CRA's financial position. 2. Keep track of OMNI CRA's general ledger and verify the accuracy of procedures used for recording the financial transactions. 3. Act as a liaison between the OMNI CRA and the taxing authorities in relation to OMNI CRA's financial matters. 4. Assist the Executive Director in the strategy of obtaining debt financing by leveraging OMNI CRA's future revenues. 5. Prepare and monitor the OMNI CRA's budget in compliance with goals and policies established by the OMNI CRA Board. blm:Document OMNI CRA PSA VALENTIN DRAFT ATTACHMENT "B" A. The CRA shall pay Mr. Valentin as compensation for Services performed pursuant to this Agreement an amount to be calculated as follows: 1. Base compensation in the amount of Thirty Six Thousand and No/100 Dollars ($36,000.00) for Services as described herein. 2. One Hundred percent (100%) of any pre -approved travel expenses incurred by Mr. Valentin's, if at all applicable, in an amount not exceed Two Thousand Five Hundred and No/100 Dollars ($2,500.00) per year shall be reimbursed by the CRA 3. A monthly amount of Fifty and No/100 Dollars (50.00) shall be paid to Mr. Valentin by the CRA for Mileage. The total amount to be paid shall not exceed Six Hundred and No/100 Dollars ($600.00) per year. 4. A monthly amount of One Hundred and No/100 Dollars ($100.00) shall be paid to Mr. Valentin by the CRA for cellular phone services as Mr. Valentin will be primarily providing Services remotely. The total amount shall not exceed One Thousand Two Hundred and No/100 Dollars ($1,200.00) per year. 5. A reimbursement of any required insurance coverage in the not to exceed amount of Two Thousand Five Hundred and No/100 Dollars ($2,500.00) per year. B. Mr. Valentin shall provide monthly invoices to the CRA's Executive Director at: Executive Director Omni Redevelopment District Community Redevelopment Agency 1401 N. Miami Avenue 2nd Floor Miami, FL 33136 C. Mr. Valentin and the CRA agree that the maximum amount payable under this Agreement for Mr. Valentin's fees and all applicable expenses shall not exceed Forty Seven Thousand Eight Hundred and No/100 Dollars ($47,800.00) (including all possible reimbursements) during the Effective Term of this Agreement. This Agreement shall automatically terminate with no further action needed by the parties at the end of the Effective Term. blm:Document OMNI CRA PSA VALENTIN DRAFT