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Agmt 2004 MBIA MuniServices Company
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Agmt 2004 MBIA MuniServices Company
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Last modified
8/12/2009 12:20:40 PM
Creation date
8/7/2009 4:54:03 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
4/14/2004
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PERM
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Reso 2004-058
(Approved by)
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\City Clerk\City Council\Resolutions\2004
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notify MMC within 10 days following receipt by CITY of payments resulting from deficiencies <br />identified by MMC pursuant to this Agreement. MMC shall invoice CITY for the contingency fee <br />on no less frequently than ~ quarterly basis, based on revenue actually received by CITY from <br />deficiencies identified by MMC. Because MMC's I3LT Service may result in collection of <br />deficiencies after termination of the Agreement, CITY's obligation to collect fees and notify MMC, <br />and MMC's right to continue to receive contingency fees, shall survive termination of this <br />Addendum or the Agreement for any reason. <br />CITY shall have the right, at CITY's option, to elect not to proceed with recovery of any identified <br />deficiencies. Deficiencies which are uncollectable due to insolvency or dissolution of die entity <br />liable, or for deficiencies which are otherwise incapable of collection (e.g. statute of limitations <br />expiration or other legal defense) shall not be considered an "election" by the CITY for the <br />purposes of this Agreement. For deficiencies otherwise collectable but for which CITY elects not_ <br />to collect, CITY shall notify MMC of its election not to pursue ("waive") collection of said <br />deficiencies. MMC shall be entitled to one-half ('/z) of the fee MMC would have been entitled to <br />for the waived portion of the deficiency. <br />I~EMAINDEK OF PAGE INfiENTIONALLY LEFT BLANK <br />MBIA MuniServices Company <br />City of San Leandro <br />Business License Tax Auditing Servir_es <br />4of5 <br />
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