71-26 Agreement with Wilentz (Redevelopment).pdf

required including preparation of documents, Developers Agreements, and review of deeds, covenants, easements, etc. The Professional shall represent or advise the Township on any matter in which the Township may have a present or future interest. (a) The Professional shall perform the services set forth above in addition to those set forth in the Township’s Request for Qualifications and in the Professional’s submission in response annexed hereto as Exhibit A. (b) Any and all work performed pursuant to this Agreement shall be performed to acceptable practices, and standards within the industry and to the satisfaction of the Township. 2. CONSIDERATION The Township shall compensate the Professional as follows: • $375.00/hour for fees paid out of redevelopment escrows and $215.00/hour for all work paid directly by the Township, plus out-of-pocket expenses, including but not limited to photocopying, postage and messenger service, communications by telephone, facsimile and electronic media, online research, and transportation. Paralegals shall be billed at $135.00/hour. Travel time is billed at the hourly rate. 3. PAYMENT Payment shall be made by the Township within thirty (30) days of the receipt and approval of itemized bills and vouchers. No payments may be made in advance of services pursuant to N.J.S.A. 40A:5-16. 4. NOT-TO EXCEED AMOUNT Total compensation under this Agreement shall not exceed $75,000.00 (the “Not-to- Exceed Amount”) without a further written encumbrance and additional authorization by resolution of the Township Council. 5. TERM The term of this agreement shall be from January 1, 2026, through December 31, 2026, unless earlier terminated in accordance with the provisions set forth in Section 16, below. 2