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EL185-13-668416.v5 <br />PROFESSIONAL SERVICES AGREEMENT <br /> <br />BETWEEN: Economic Development Authority of the City of Elk River <br />AND: Carey Dean <br /> <br />EFFECTIVE DATE: June __, 2024 <br /> <br />This Professional Services Agreement (this “Agreement”) is made this __ day of June, 2024, by <br />and between the Economic Development Authority of the City of Elk River , a public body corporate and <br />politic under laws of the State of Minnesota, hereinafter referred to as the “EDA”, and Carey Dean, <br />hereinafter referred to as the “Consultant”: <br />RECITALS <br />A. The Consultant is engaged in the business of providing professional public art design, documentation, <br />fabrication, and installation services. <br /> <br />B. The EDA desires to engage the Consultant to provide the services described in this Agreement and the <br />Consultant is willing to provide such services on the terms and conditions set forth herein. <br /> <br />AGREEMENT <br />1. Services to be Provided. The Consultant agrees to provide the EDA with public art design, <br />documentation, fabrication, and installation services as set forth in the Scope of Work proposal, all <br />attached hereto as Exhibit A (the “Work”). All Work shall be provided in a manner consistent <br />with the level of care and skill ordinarily exercised by professionals currently providing similar <br />services. <br /> <br />2. Term for Completion. This Agreement shall remain in force and effect commencing from <br />June ___, 2024 and continuing until the completion of the Work not later than May 9, 2025 in <br />accordance with the timeline set forth in Exhibit A, unless terminated by the EDA or amended <br />pursuant to this Agreement. <br /> <br />3. Consideration. The consideration, which the EDA shall pay to the Consultant, for both the Work <br />performed by the Consultant and the expenses incurred by the Consultant in performing the Work, <br />shall not exceed $20,000 in accordance with the budget set forth in Exhibit A. The EDA shall pay <br />the Consultant 40% or $8,000 for upfront costs for materials upon execution of this Agreement. <br />The final 60% or $12,000 will be paid upon installation of the work. <br /> <br />4. Approvals. The Consultant will secure the written approval of the EDA’s Executive Director <br />before making any expenditures, purchases, or commitments on the EDA’s behalf or before <br />releasing any material to the media. <br /> <br />5. Termination. Notwithstanding any other provision hereof to the contrary, this Agreement may be <br />terminated as follows: <br /> <br />Page 89 of 104