Contract - HJ Umbaugh & Assoc. - Municipal Advisory Services with Respect to the 2016 Waterworks Bonds Refunding

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Fees For services provided as set forth in Exhibit A, the Firm's fees will be: A. For services provided as set forth in Articles I and II, fees shall be Twenty -Seven Thousand Five Hundred Dollars ($27,500). B. For services provided as set forth in Article III, fees shall be Four Thousand Dollars ($4,000). C. For services provided as set forth in Article IV, fees shall be Four Thousand Dollars ($4,000). D. If requested, fees for services provided as set forth in Article V shall be Two Thousand Dollars ($2,000). E. For services provided as set forth in Article VI, fees shall be billed at the Firm's standard billing rates based upon the actual time and expenses incurred, as per the schedule below. Standard Hourly Rates by Job Classification O1/01/2016 Partners / Principals $230.00 to $450.00 Managers $175.00 to $325.00 Consultants $95.00 to $250.00 Municipal Bond Disclosure Specialist $85.00 to $180,00 Support Personnel $75.00 to $135.00 • Billing rates are subject to change periodically due to changing requirements and economic conditions. Actual fees will be based upon experience of the staff assigned and the complexity of the engagement. The above fees shall include all expenses incurred by the Firm with the exception of expenses incurred for travel, if any, outside the State of Indiana. No such expenses will be incurred without the prior authorization of the Client. The fees do not include the charges of other entities such as rating agencies, bond and official statement printers, couriers, newspapers, bond insurance companies, bond counsel and local counsel, and electronic bidding services, including Parity®. Coordination of the printing and distribution of Official Statements or any other Offering Document are to be reimbursed by the Client based upon the time and expense for such services.