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P. M.M.& CO. <br />Community Development Program <br />January 13, 1977 <br />2 <br />2. If the Contractor determines that the Local Public Agency's <br />books and records are not in sufficiently satisfactory condition for perform- <br />ing an audit, the Contractor shall disclose this deficiency to the Local Public <br />Agency. If the Local Public Agency cannot get its books and records ready <br />for audit within 15 days, the Contractor shall notify the Secretary by written <br />communication addressed to the Regional Inspector General for Audit, Regional <br />Office, Department of Housing and Urban Development, 300 South Wacker Drive, <br />Chicago, Illinois, with a copy to the Area Director, Area Office, Department <br />of Housing and Urban Development, Willowbrook 5 Building, 4720 Kingsway Drive, <br />Indianapolis, Indiana. The Contractor shall await further instructions from <br />the Regional Inspector General for Audit before continuing the audit. <br />3. Upon completion of the audit, an audit report consisting of those <br />elements described in the Audit Guide shall be simultaneously submitted to the <br />Regional Inspector General for Audit six copies; to the HUD area office seven <br />copies; and to the Local Public Agency ten copies as joint addressees. <br />4. The audit report shall be submitted within 90 days upon commence- <br />ment of the examination. The examination will begin before February 15, 1977. <br />5. The Local Public Agency agrees to pay the Contractor as compensation <br />for the services and report mentioned herein, a lump -sum fee of $5,500, exclusive <br />of all costs and expenses. The fee is based on the following: <br />a. Partner: $85 per hour; estimated man -days - 2 -$ 1,360 <br />b. Manager: $42 per hour; estimated man -days - 6 - 2,016 <br />C. Senior: $27 per hour; estimated man -days - 18 - 3,888 <br />d. Junior: $20 per hour; estimated man -days - 8 - 1,280 <br />Total fees at standard 8,544 <br />Estimated out -of- pocket expenses 700 <br />Net fees and expenses at standard 9,244 <br />Reduction 3,744 <br />Net fees and expenses $ 5,500 <br />