Amendment No 2 to PSA - Implement CDFI Friendly South Bend Contract Board and Additional Program Management - MPinsky, LLC dba Five Four Advisors

Home Browse Search

SECOND AMENDMENT TO PROFESSIONAL SERVICES AGREEMENT This Second Amendment to Professional Services Agreement (this "Second Amendment") is made effective on January 1, 2020 (the "Effective Date"), by and between the City of South Bend, Indiana, an Indiana municipal corporation, acting by and through its Board of Public Works (the "City"), and MPinsky, LLC d/b/a Five/Four Advisors (the "Contractor") (each a "Party" and collectively the "Parties"). RECITALS A. The City and the Contractor entered into a Professional Services Agreement dated November 13, 2018, which was subsequently amended by a First Amendment to Professional Services Agreement dated June 25, 2019 (together, the "Services Agreement"), for the provision of Services to the City (as more specifically defined in the Services Agreement). B. The City and the Contractor wish to amend the Services Agreement to include additional Services. NOW, THEREFORE, in consideration of the mutual promises and obligations in this Second Amendment and the Services Agreement, the adequacy of which consideration is hereby acknowledged, the Parties agree as follows: 1. Section 1 of the Services Agreement shall be deleted in its entirety and replaced with the following: Duties of the Contractor. The Contractor will provide to the City the professional services (the "Services"), set forth in the Contractor's proposal attached hereto as Exhibits A A-1 and A-2 (together, the "Scope of Work"). In the event of any conflict between the terms of this Agreement and the terms of the Scope of Work, the terms of this Agreement, as amended, will prevail. The Contractor will execute its obligations under this Agreement in accordance with the prevailing professional standard of care for projects of similar design and complexity. 2. Section 2 of the Services Agreement shall be deleted in its entirety and replaced with the following: Consideration. The Contractor will be paid within thirty (30) days of its submission of an undisputed invoice. For the Services set forth under Exhibit A, the consideration shall not exceed Forty Thousand Dollars ($40,000); for the Services set forth under Exhibit A-1, the consideration shall not exceed Sixty Thousand Dollars; and for the Services set forth under Exhibit A-2, the consideration shall not exceed One Hundred Fifty Thousand Dollars ($150,000). The total consideration under this Agreement shall not exceed the sum of Two Hundred Fifty Thousand Dollars ($250,000). Any payment that the City may deny or withhold or 1