Loading...
HomeMy Public PortalAboutC-17-014 - Kosmont & Associates, Inc. Amendment No. 3, Infrastructure Financing District ConsultingAMENDMENT NO.3 TO CONTRACT SERVICES AGREEMENT FOR INFRASTRUCTURE FINANCING DISTRICT CONSULTING SERVICES THIS THIRD AMENDMENT TO THE AGREEMENT FOR CONTRACT SERVICES ("Amendment") entered into by and between the CITY OF CARSON, a municipal corporation ("City"), and KOSMONT & ASSOCIATES, INC., a California Corporation ("Consultant"), is effective as of the 14th day of January, 2020. RECITALS A. City and Consultant entered into that certain "Contract Services Agreement for Infrastructure Financing District Consulting Services" dated February 11, 2017 ("Agreement"), whereby Consultant agreed to provide Enhanced Infrastructure Financing District Consulting Services for a one-year term for the contract sum of $24,990. B. On February 6, 2018, City and Consultant entered into Amendment No. 1 to the Agreement ("Amendment No. P), which amended the Agreement to: (i) extend the term of the Agreement through February 6, 2019; (ii) expand the Agreement's scope of services to provide for additional Enhanced Infrastructure Financing District ("EIFD") analysis; and (iii) increase the contract sum to provide for the additional services by an amount not to exceed $55,000, thereby increasing the total contract sum to $79,990. C. On June 4, 2019 City and Consultant entered into Amendment No. 2 to the Agreement ("Amendment No. 2"), which amended the Agreement to extend the term of the Agreement through June 30, 2020, to allow sufficient time for Consultant to perform services identified in the scope of services, yet did not increase Consultant compensation. D. Up-to-date, Consultant has completed extensive analysis to determine the feasibility of establishing an EIFD for the City, and Consultant has further performed initial district implementation activities for the City, including stakeholder outreach, fiscal impact analysis, and drafting infrastructure financing plan template forms. E. City desires to move -forward with implementing an EIFD within the City, and therefore, further professional services are desired from Consultant to formally commence next steps in the formation process of the City's EIFD and establishing a public financing authority pursuant to state law, including drafting one or more resolutions to establish the City's EIFD, finalize the infrastructure financing plan and distribute to required property owners, present and attend at City meetings and public hearings to approve the EIFD, and provide real estate and special financing advisory services related thereto. F. City and Consultant now desire to amend the Agreement to: (i) broaden the scope of services and schedule of compensation to provide for additional services relating to formation of a Carson EIFD; (ii) extend the term of the Agreement through June 30, 2021; and (iii) increase the total contract sum by $55,000, for a total not -to -exceed contract sum of $134,990. -1- 01007.0005/621874.4 TERMS 1. Recitals. The foregoing recitals are true and correct, and are incorporated herein by reference as though set forth in full. 2. Contract Changes. The Agreement is amended as provided herein (additions identified in bold italics, deletions in strilethr-eugh) (a) Section 2.1, of the Agreement, entitled "Contract Sum," shall be amended to read as follows: "For the services rendered pursuant to this Agreement, Consultant shall be compensated in accordance with the "Schedule of Compensation" attached hereto as Exhibit "C" and incorporated herein by this reference, but not exceeding the maximum contract amount of Seventy T4ine Theme and Nine 14und,.o� +may ars ($79,994) One Hundred Thirty Four Thousand Nine Hundred Ninety Dollars ($134,990) ("Contract Sum"). (b) Section 3.4, of the Agreement, entitled "Term," shall be amended to read as follows: "Unless earlier terminated in accordance with Article 7 of this Agreement, this Agreement shall continue in full force and effect until June % June 30, 2021, except as otherwise provided in the Schedule of Performance (Exhibit "D")." (c) Exhibit "A" of the Agreement, entitled "Scope of Services," is hereby restated, amended, and replaced in its entirety with Exhibit "A" attached hereto. (d) Exhibit "C" of the Agreement, entitled "Schedule of Compensation," is hereby restated, amended, and replaced in its entirety with the Exhibit "C" attached hereto. (e) Exhibit "D" of the Agreement, entitled "Schedule of Performance," is hereby restated, amended, and replaced in its entirety with Exhibit "D" attached hereto. 3. Continuing Effect of Agreement. Except as amended by this Amendment, all provisions of the Agreement shall remain unchanged and in full force and effect. From and after the date of this Amendment, whenever the term "Agreement" appears in the Agreement, it shall mean the Agreement, as amended by this Amendment to the Agreement. 4. Affirmation of Agreement; Warranty Re Absence of Defaults. City and Consultant each ratify and reaffirm each and every one of the respective rights and obligations arising under the Agreement. Each party represents and warrants to the other that there have been no written or oral modifications to the Agreement other than as provided herein. Each party represents and warrants to the other that the Agreement is currently an effective, valid, and binding obligation. Consultant represents and warrants to City that, as of the date of this Amendment, City is not in default of any material term of the Agreement and that there have been no events that, -2- 01007.0005/621874.4 with the passing of time or the giving of notice, or both, would constitute a material default under the Agreement. City represents and warrants to Consultant that, as of the date of this Amendment, Consultant is not in default of any material term of the Agreement and that there have been no events that, with the passing of time or the giving of notice, or both, would constitute a material default under the Agreement. 5. Adequate Consideration. The parties hereto irrevocably stipulate and agree that they have each received adequate and independent consideration for the performance of the obligations they have undertaken pursuant to this Amendment. 6. Authority. The persons executing this Agreement on behalf of the parties hereto warrant that (i) such parry is duly organized and existing, (ii) they are duly authorized to execute and deliver this Amendment on behalf of said party, (iii) by so executing this Amendment, such party is formally bound to the provisions of this Amendment, and (iv) the entering into this Amendment does not violate any provision of any other Agreement to which said party is bound. [SIGNATURES ON FOLLOWING PAGE] -3- 01007.0005/621874.4 IN WITNESS WHEREOF, the parties hereto have executed this Amendment of the date first set forth above. CITY: CITY OF ARSON, a corporation O� CARSON 1 ert R bles, Mayor ate: , 2020 ATTE w a� Donesia'L.Gause-Alctsana, City Clerk APTD AS TO FORM: AVSHW & WYNDER, LLP CONSULTANT: KOSMONT & SOCIATES, INC., a California corporation Name Iosmont Title: Chairman and CEO By: / Name: 5 v�.v i -►'I. /�'J/�s vr�t3 Title: SEG �Z Address: 3S2- % NArrr / A!F�allo ed 9o266 Date: , 2020 Two corporate officer signatures required when Consultant is a corporation, with one signature required from each of the following groups: 1) Chairman of the Board, President or any Vice President; and 2) Secretary, any Assistant Secretary, Chief Financial Officer or any Assistant Treasurer. CONSULTANT'S SIGNATURES SHALL BE DULY NOTARIZED, AND APPROPRIATE ATTESTATIONS SHALL BE INCLUDED AS MAY BE REQUIRED BY THE BYLAWS, ARTICLES OF INCORPORATION, OR OTHER RULES OR REGULATIONS APPLICABLE TO CONSULTANT'S BUSINESS ENTITY. 01007.0005/621874.4 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy or validity of that document. STATE OF CALIFORNIA COUNTY OF LOS ANGELES O , 2020 before me, ,personally appeared proved to I& on the basis of satisfactory evidence to be the person whose amesV is/y6 subscribed to the within instrument and acknowledged to me that he/s /tYey executed the same in hisAwetlicir authorized capacity and that by hist/fir signature(o on the instrument the personal, or the entity upon behalf of which the person(se racted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS m hand and official seal. sASRiNAMORGANPornia 3' � � Notary Public -California Z z los Angeles County Z - Commission 0 2220871 ,—./ PX Signature: My Comm. Expires Nov 5.2021 OPTIONAL Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent reattachment of this form. CAPACITY CLAIMED BY SIGNER ❑ INDIVIDUAL ❑ CORPORATE OFFICER TITLE(S) ❑ PARTNER(S) ❑ LIMITED ❑ GENERAL ❑ ATTORNEY-IN-FACT ❑ TRUSTEE(S) ❑ GUARDIAN/CONSERVATOR OTHER SIGNER IS REPRESENTING: (NAME OF PERSON(S) OR ENTITY(IES)) 01007.0005/621874.4 DESCRIPTION OF ATTACHED DOCUMENT TITLE OR TYPE OF DOCUMENT NUMBER OF PAGES DATE OF DOCUMENT SIGNER(S) OTHER THAN NAMED ABOVE CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy or validity of that document. STATE OF CALIFORNIA COUNTY OF LOS ANGELES O .lyraM _.. , 2020 before mei Q , personally appeare E(1 proved to Me on the basis of satisfactory evidence to be the person,(rwhose namesSA),fs/pe subscribed to the within instrument and acknowledged to me that he/sWtbee executed the same in hist/thof'authorized capacitylies , and that by his4jKthqirsignature�<on the instrument the person(; or the entity upon behalf of which the person(<acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. SABRINA MORGAN PAREJA WITNESS my hand and official seal. _ NotaryPublic— California `z_ ' tos Angeles County z Commission # 2220871 Signator My Comm, Expires Nov 5, 2021 �wrwwnw•�r�w•e OPTIONAL Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent reattachment of this form. CAPACITY CLAIMED BY SIGNER ❑ INDIVIDUAL ❑ CORPORATE OFFICER DESCRIPTION OF ATTACHED DOCUMENT TITLE OR TYPE OF DOCUMENT NUMBER OF PAGES DATE OF DOCUMENT SIGNER IS REPRESENTING: SIGNER(S) OTHER THAN NAMED (NAME OF PERSON(S) OR ENTITY(IES)) ABOVE 01007.0005/621874.4 TITLE(S) ❑ PARTNER(S) ❑ LIMITED ❑ GENERAL ❑ ATTORNEY-IN-FACT ❑ TRUSTEE(S) ❑ GUARDIAN/CONSERVATOR OTHER DESCRIPTION OF ATTACHED DOCUMENT TITLE OR TYPE OF DOCUMENT NUMBER OF PAGES DATE OF DOCUMENT SIGNER IS REPRESENTING: SIGNER(S) OTHER THAN NAMED (NAME OF PERSON(S) OR ENTITY(IES)) ABOVE 01007.0005/621874.4 EXHIBIT "A" SCOPE OF SERVICES I. Consultant will perform infrastructure financing consulting services to determine the feasibility of establishing an Enhanced Infrastructure Financing District ("EIFD"), as follows: Task 1: Initial Research to Evaluate Proposed EIFD Boundary Consultant will conduct a kickoff meeting (may be telephonic) with the City, and conduct a preliminary evaluation of a proposed boundary area, to be identified by the City, for consideration in forming an EIFD. All Tasks identified herein include the potential of multiple EIFD sub -areas pursuant to the Carson Vison Plan and prospective expanded areas (to be determined). Consultant will consider certain factors in the preliminary evaluation of the Client's recommended boundary area including, but not limited to: 1. Preferred membership within the EIFD (e.g. City/County/Special Districts, landowners/developers) 2. Available alternatives for funding improvements within the EIFD (e.g. grant sources based on transit or disadvantaged community census tract designation) 3. Infrastructure needs to improve the district and prepare the EIFD area for private development (to be provided by the Client or third party engineering consultant). Task 2: Assessment of Governance Structure for EIFD Consultant will, with assistance from City, identify the potential Public Facilities Authority (PFA) members and provide advice on steps to create the PFA governance structure that would best implement the planning and implementation of the EIFD. Task 3: Illustrative Tag Increment Analysis & Identification of Other Potential Resources Consultant will review readily available planning documents as well as funding information acquired from Task I to determine the general types of development projects that are planned within the boundaries of the potential EIFD. The advisory work for this Task will focus on prospective or illustrative key private project(s), which are within the proposed EIFD (as appropriate to the assignment). Consultant will incorporate these development projections into an illustrative tax increment analysis for the EIFD in order to determine highest priority projects/areas as well as areas for future annexation/consideration. Consultant will consider: 01007.0005/621874.4 • Illustrative development projections in the EIFD (to be determined in consultation with Client) • Corresponding range of assessed value creation and tax increment generation overtime • Preliminary list of complementary economic development tools and funding resources • Potential infrastructure improvements to serve the development (to be provided by Client or selected engineering consultant) • Overlap of EIFD with former RDA project areas and corresponding outstanding obligations. Task 4: Strategic Review of Consolidated EIFD vs. Independent EIFD Areas In conjunction with the Client, Consultant will evaluate the strategic preferences and disadvantages of proceeding based on one versus multiple EIFD areas. Considerations shall include cash flow and timing considerations, as well as likely priorities of other relevant public agencies that are potential contributors/participants in the PFA and or EIFD for a specific sub -area. Task 5: Evaluation Summary Presentation Materials Consultant will compile the data and research from Tasks 1 through 4 and compile it into a Summary PowerPoint Presentation that will explain the procedural requirements and potential operating authority of an EIFD and the steps the Client (and other entities, as appropriate) will have to take to create an EIFD. Consultant will produce this Summary Power Point as a tool to educate the City Council, public agency representatives, general public, and other interested parties about the relevant factors and potential benefits of pursuing an EIFD and potential associated costs. The Summary PowerPoint will also identify the timing and follow on scope and budget to be determined in consultation with the Client. Task 6: Public and Private Stakeholder Outreach & Analysis Refinement A. Consultant will assist with outreach to public and private sector entity stakeholders, potentially including, but not limited to: City Council, County Administrative Office, County Board of Supervisors, Southern California Association of Governments, State Board of Equalization I Department of Tax and Fee Administration, Special districts (e.g. fire district, water districts, utility agencies), Major EIFD area developers, property owners, and/or registered voters. B. Consultant will assist with preparation and presentation of EIFD materials and Analysis as appropriate. Based on continued stakeholder outreach, Consultant will refine preliminary tax increment projections and related funding and financing analysis, in order to reflect proposed participating taxing entity tax increment dedications and supplementary funding sources and financing mechanisms. Consultant will assist with 01007.0005/621874.4 final determination of EIFD boundaries and governing Public Financing Authority ("PFA ") board composition. Task 7: Infrastructure Financing Plan ("IFP") Document Template Consultant will prepare an IFP document template to be populated by City staff in collaboration with Consultant and appropriate third -party consultants (e.g. special counsel, engineering I environmental consultants). The IFP template will include a table of contents and delineated sections for required information, including, but not limited to, a legal description of district boundaries, public improvements to be implemented, location, timing, and costs of development and financial assistance, finalized tax increment projections, intention to incur debt (e.g. EIFD bonds), district termination date, taxing entity fiscal impact analysis, and replacement housing obligations (pursuant to legislation Section 53398.63). Task 8: IFP Supporting Fiscal Impact Analysis The IFP is required by EIFD legislation to include an analysis of the projected fiscal impact of the EIFD and associated development upon each affected taxing entity. Consultant will prepare the fiscal impact analysis for the expected life of the EIFD (up to 45 years following the date on which the issuance of bonds is approved), including the period during and after new development has occurred. The analysis will include evaluation of potential fiscal revenues (e.g. property tax, sales tax, transient occupancy tax) and expenditures (e.g. police, fire, community services) for the City and other potentially participating taxing entities. Task 9: Updated County Discussions and Direction on Partnership Consultant will assist the City in updated preparation and discussion with the appropriate County administrative and supervisorial staff to determine whether the City should proceed with EIFD initially with or without County partnership (recognizing that the County may join in a subsequent year). After receiving an update of the discussions with the County, the Contract Officer shall confirm and direct Consultant to proceed with the next tasks either with or without the County's participation in the EIFD. Cityunderstands that County's participation in the City's EIFD may bring financing benefits to said EIFD, but that the County's participation is not a requisite in establishing the EIFD. Task 10: Resolution(s) of Intent and Establishment of the Public Financing Authority Consultant will assist City staff and the City Attorney's office with the preparation of requisite documentation for the Resolution(s) of Intent ("ROI') to form the EIFD, including appropriate designation of the governing Public Financing Authority ("PFA") board members. Consultant will assist with coordination and presentation at the required City Council meeting(s) to adopt the ROI and will assist with required noticing of the ROI following the legislative body action(s). Due to the benefits received to City from the County's participation in the EIFD, the Consultant, at the direction and expense of the City, shall assist County staff and County Counsel with the preparation of County resolution(s) and presentation at County Economic Development Policy Committee and 01007.0005/621874.4 Board of Supervisors meetings, if applicable. Should Consultant enter into a service agreement with County for services related thereto, Consultant shall only charge the City for the pro -rata portion of services delivered to City. Task 11: Infrastructure Financing Plan Completion and Distribution Consultant will collaborate with City staff (and potentially County staff, under the direction and cost of City) on the completion of the required IFP (in connection with Task 7, above), and related appendices, and the completion of the financial impact analysis components (in connection with Task 8, above). Consultant will assist City staff, including the City Clerk's office, in the required distribution of the IFP to property owners within the EIFD and to affected taxing entities. Consultant will assist the City Clerk in coordinating the required noticing of the PFA hearing(s)for IFP approval and EIFD formation. As part of IFP preparation, initial estimates of potential bonding capacity will be prepared at no additional costs by Consultant's affiliate, Kosmont Realty Corporation, doing business as Kosmont Transactions Services ("KTS"), a registered business with the Securities Exchange Commission (CIK# 0001631076) and the Municipal Securities Rulemaking Board as a Municipal Advisor (ID# K0505). Any and all future financial services provided by KTS shall be negotiated and agreed to by both parties by executing a separate contract services agreement. Nothing in this Agreement shall obligate the City to enter into such an agreement with KTS for future financial services. Task 12: IFP Approval and EIFD Formation Hearings Consultant will assist in coordination and will prepare and present an overview of the EIFD and IFP at the required City Council meeting(s) (and potential County Board of Supervisors meeting(s), under the direction and cost of City) and PFA hearing(s) to approve the IFP and form the EIFD. Once the EIFD is successfully formed, Consultant will assist City staff in completing the required filings for Change of Jurisdictional Boundaries with the State Board of Equalization. Task 13: Special Projects — As -Needed Real Estate and Project Financing Advisory Services As directed by the Contract Officer, Consultant will provide the following services on an on-call basis: real estate and special financing advisory services on various real projects as mutually agreeable by Consultant and the City, pursuant to and in accordance with the procedure in Section VI of this Exhibit A. II. As part of the Services, Consultant will prepare and deliver the following tangible work products to the City: 01007.0005/621874.4 A. Task I Deliverables: Preliminary EIFD project area map B. Task 2 Deliverables: Outline of potential governance structure/governing board membership alternatives; Summary of steps, estimated timetable to complete formation of governing board; Preliminary estimate of PFA start-up costs C. Task 3 Deliverables: Illustrative tax increment analysis and preliminary list of complementary funding sources; Preliminary infrastructure improvement list (to be provided by Client or to be identified consultant); Ranking of potential EIFD areas by priority ( e.g. early/higher priority vs. later/future consideration) D. Task 4 Deliverable: Summary Matrix of prospective EIFD Areas with technical and subjective observations E. Task 5 Deliverables: Summary PowerPoint; Presentation of Summary Power Point to City Staff and Council F. Task 6 Deliverables: EIFD materials and analysis. G. Task 7 Deliverables: IFP document template and assist with the final determination of EIFD boundaries and governing Public Financing Authority ("PFA") board composition. H. Task 8 Deliverables: A fiscal impact analysis for the expected life of the EIFD (up to 45 years following the date on which the issuance of bonds is approved), including the period during and after new development has occurred. The analysis will include evaluation of potential fiscal revenues and expenditures for the City and other potentially participating taxing entities. L Task 9 Deliverables: Written summary of County Board of Supervisors discussions and recommendation on the formation of EIFD (whether with, or without, the County's participation) so as to provide direction/confirmation on whether the City should proceed with EIFD initially with or without County partnership. J. Task 10 Deliverables: Provide City (and County Board of Supervisors, if applicable) with required documentation, including but not limited to, ROI, to form the EIFD. Presentation of summary PowerPoint to City Council, staff, and public during public meeting(s).Noticing of the ROI as needed. K. Task 11 Deliverables: Completed IFP and related appendices and financial impact analysis. Distribution of the IFP to property owners within EIFD and affected taxing entities, as needed. In coordination with City Clerk, provide notice of PFA hearing for IFP approval and EIFD formation, and file required documents to form EIFD, as needed. Initial estimates of potential bonding capacity. L. Task 12 Deliverables: Coordination, preparation and presentation of PowerPoint on the EIFD and IFP at required City Council meeting(s) (and potential County Board of 01007.0005/621874.4 Supervisors meeting, under the direction and cost of City) and PFA hearing(s) to approve IFP and form EIFD. File the Change of Jurisdictional Boundaries with the State Board of Equalization, as needed. M. Task 13 Deliverables: Deliverables shall be determined in accordance with Section VI of this Exhibit "A': III. In addition to the requirements of Section 6.2, during performance of the Services, Consultant will keep the City updated of the status of performance by delivering the following status reports: A. As needed, upon request of Contract Officer. IV. All work product is subject to review and acceptance by the City, and must be revised by the Consultant without additional charge to the City until found satisfactory and accepted by City. V. Consultant will utilize the following personnel to accomplish the Services: A. Larry Kosmont B. Joseph Dieguez C. Robert Valenti D. Fernando Sanchez E. Wil Soholt F. Thomas Jirovsky G. Dan Massiello K Felicia Williams VL Consultant must perform the services listed in Task 13 of Section I of this Exhibit "A" in compliance with the following requirements: A. Each task shall be indicated by a written request produced by the Contract Officer with a description of the work to be performed, and the time desired for completion. All tasks shall be carried out in conformity with all provisions of this Agreement. B. Consultant must prepare a written description of the requested tasks including all components and subtasks, the costs to perform the task ("Task Budget"), using the itemized fees in Exhibit "C'; Schedule of Compensation, whenever a requested task is provided for in Exhibit "C"; explain how the cost was determined, and, a schedule for 01007.0005/621874.4 completion of the task ("Task Completion Date'q; which shall all collectively be referred to as the "Task Proposal': C. Contract Officer shall in writing approve, modify or reject the Task Proposal, and may issue a notice to proceed. D. The task shall be performed at a cost not to exceed the Task Budget. E. Consultant shall complete the task and deliver all deliverables to Contract Officer by the Task Completion Date." 01007.0005/621874.4 * Tasks 9 through 12 include costs for Consultant services provided to County should County participate in the EIFD, including drafting required resolutions and documents pursuant to state law; provided, however, that upon approval from the Contract Officer the costs may increase for unexpected and extended negotiations. Should Consultant enter into a service agreement with Countyfor services related thereto, Consultant shall only charge the Cityfor the pro -rata portion of services delivered to City. 01007.0005/621874.4 EXHIBIT "C" SCHEDULE OF COMPENSATION I. Consultant shall perform the following Services at the following rates: TIME SUB -BUDGET A. Task 1 3-4 weeks $6,500 B. Task 2 2-4 weeks $3,500 C. Task 3 3-4 weeks (overlapping $6,000 w/Task 2 B D. Task 4 3-4 weeks (overlapping $3,500 w/Tasks 2-3) E. Task 5 2-4 weeks $5,490 F. Task 6 90 hour -s 6-8 weeks $25,000 G. Task 7 deur-s 3-4 weeks $7,500 H Task 8 80 hetes 5-6 weeks $22,500 L Task 9* 8-12 weeks (overlapping $7,500 with Tasks 10 and 11) J. Task 10* 6-8 weeks (overlapping $5,000 with Tasks 9 and 11) K. Task 11 * 6-8 weeks (overlapping $7,500 with Tasks 9 and 10) L. Task 12 * 16-20 weeks $5,000 M. Task 13 TBD at direction of City $15,000 staff N. Contingency - $15,000 * Tasks 9 through 12 include costs for Consultant services provided to County should County participate in the EIFD, including drafting required resolutions and documents pursuant to state law; provided, however, that upon approval from the Contract Officer the costs may increase for unexpected and extended negotiations. Should Consultant enter into a service agreement with Countyfor services related thereto, Consultant shall only charge the Cityfor the pro -rata portion of services delivered to City. 01007.0005/621874.4 II. A retention of ten percent (10%) shall be held from each payment as a contract retention to be paid as a part of the final payment upon satisfactory completion of services. III. Within the budgeted amounts for each Task, and with the approval of the Contract Officer, funds may be shifted from one Task sub -budget to another so long as the Contract Sum is not exceeded per Section 2.1, unless Additional Services are approved per Section 2.3. Notwithstanding the foregoing, the Contingency amount described in Subsection N of Section I of this Exhibit "C" shall only be used for unexpected and extended negotiations, including any negotiations with other agencies such as tlae County and the Consolidated Fire Protection District of Los Angeles County. Consultant shall notify and receive confirmation from Contract Officer before proceedings with any participation in said unexpected and extended negotiations with other agencies. IV. For all on-call services listed under Task 13 of Section I of Exhibit "A", Consultant shall establish a Task Budget for each task identifying the subtasks, based on the time and rates of the personnel performing the subtasks, and itemizing all materials and equipment utilized and the costs thereof. If payment is to be made other than at completion of the services, then the phases of the performance and percentage of payment due shall also be shown in the Task Proposal. V. The City will compensate Consultant for the Services performed upon submission of a valid invoice, in accordance with Section 2.2. Each invoice is to include: A. Line items for all the work performed, the number of hours worked, and the hourly rate. B. Line items for all materials and equipment properly charged to the Services. C. Line items for all other approved reimbursable expenses claimed, with supporting documentation. D. Line items for all approved subcontractor labor, supplies, equipment, materials, and travel properly charged to the Services. VI. The total compensation for the Services, including on-call services, shall not exceed $79,990.00 $134,990.00, as provided in Section 2.1 of this Agreement. VII. Consultant's billing rates for all personnel, and rates for additional expenses, are attaeh ed as Exhibit C , as follows: 01007.0005/621874.4 PERSONNEL HOURLY RATES Professional Services Chairman & CEO $305.001hour President $290.00/hour Partner/Senior Vice President/Senior $275 00/hour Consultant Vice President/Associate $195 00/hour Project Analyst/Project Research $165.00/hour Assistant Project Analyst/Assistant $125.00/hour Project Manager GIS Mapping/Graphics Service $ 95 00/hour Clerical Support $ 60 001hour Additional Expenses In addition to professional services (labor fees): 1) An administrative fee for in-house copy, fax, phone and postage costs will be charged, which will be computed at four percent (4.0 %) of monthly Consultant professional service fees incurred, plus 2) Out-of-pocket expenditures, such as travel and mileage, professional printing, and delivery charges for messenger and overnight packages will be charged at cost. 3) If Consultant retains Third Party Vendor(s) for Client (with Client's advance approval), fees and cost will be billed to Client at 1.1 X (times) fees and costs. 4) Consultant's attendance or participation at any public meeting requested by Client will be billed at the professional services (hourly) fees as shown on this rate sheet Charges for Court/DepositiowEyert Witness -Related Appearances Court -related (non preparation) activities, such as court appearances, depositions, mediation, arbitration, dispute resolution and other expert witness activities, will be charged at a court rate of 1.5 times scheduled rates, with a 4 -hour minimum. 01007.0005/621874.4 EXHIBIT "D" SCHEDULE OF PERFORMANCE I. Consultant shall perform Task 1 timely in accordance with the following schedule: L Task 9 Within 90 days fivin March 31, 2020 authorization J. Task 10* Within 180 days from June 30, 2020 authorization 01007.0005/621874.4 Days to Perform Deadline Date (subject to modification based on date Citv provides Consultant with updated planned proiect data) A. Task 1 30 days from 3/17/2017 authorization B. Task 2 60 days from 4/17/2017 authorization C. Task 3 60 days from 4/17/2017 authorization D. Task 4 60 days from 4/17/2017 authorization E. Task 5 90 days from 5/17/2017 authorization F. Task 6 60 days from receipt August 31, 2019 of City updated planned project data G. Task 7 90 days receipt of City September 30, 2019 updated planned project data H. Task 8 90 days from receipt September 30, 2019 of City updated planned project data L Task 9 Within 90 days fivin March 31, 2020 authorization J. Task 10* Within 180 days from June 30, 2020 authorization 01007.0005/621874.4 II K. Task 11 * Within 180 days from June 30, 2020 authorization L. Task 12 * Within 365 days from December 31, 2020 authorization Additionally, for Task 13, Consultant shall perform requested services in accordance with the schedule to be developed by Consultant and subject to the written approval of the Contract Officer. *On December 3, 2019, the City Council adopted Resolution No. 19-192 with tl:e intent to preserve the application of the then current EIFD state law on the formation of an EIFD. At the City's option (and subject to anticipated cleanup legislation), the City may elect to complete the EIFD process under prior state law or current state law, which may affect the deadline dates associated with each Task, and Consultant shall work with the City to accommodate for said changes in timeline. Consultant shall deliver the following tangible work products to the City by the following dates. A. Task 1 Deliverables: Preliminary EIFD project area map B. Task 2 Deliverables: Outline of potential governance structure/governing board membership alternatives; Summary of steps, estimated timetable to complete formation of governing board; Preliminary estimate of PFA start-up costs C. Task 3 Deliverables: Illustrative tax increment analysis and preliminary list of complementary funding sources; Preliminary infrastructure improvement list (to be provided by Client or to be identified consultant); Ranking of potential EIFD areas by priority (e.g. early/higher priority vs. later/future consideration) D. Task 4 Deliverable: Summary Matrix of prospective EIFD Areas with technical and subjective observations E. Task 5 Deliverables: Summary PowerPoint; Presentation of Summary Power Point to City Staff and Council F. Task 6 Deliverables: EIFD materials and analysis. G. Task 7 Deliverables: IFP document template and assist with the final determination of EIFD boundaries and governing Public Financing Authority ("PFA") board composition. H. Task 8 Deliverables: A fiscal impact analysis for the expected life of the EIFD (up to 45 years following the date on which the issuance of bonds is approved), 01007.0005/621874.4 including the period during and after new development has occurred. The analysis will include evaluation of potential fiscal revenues and expenditures for the City and other potentially participating taxing entities. I. Task 9 Deliverables: Written summary of County Board of Supervisors discussions and recommendation on the formation of EIFD (whether with, or without, the County's participation) so as to provide direction/confirmation on whether the City should proceed with EIFD initially with or without County partnership. J. Task 10 Deliverables: Provide City (and County Board of Supervisors, if applicable) with required documentation, including but not limited to, ROI, to form the EIFD. Presentation of summary PowerPoint to City Council, staff, and public during public meeting(s).Noticing of the ROI as needed. K. Task 11 Deliverables: Completed IFP and related appendices and financial impact analysis. Distribution of the IFP to property owners within EIFD and affected taxing entities, as needed. In coordination with City Clerk, provide notice of PFA hearing for IFP approval and EIFD formation, and file required documents to form EIFD, as needed. Initial estimates of potential bonding capacity. L. Task 12 Deliverables: Coordination, preparation and presentation of PowerPoint on the EIFD and IFP at required City Council meeting(s) (and potential County Board of Supervisors meeting, under the direction and cost of City) and PFA hearing(s) to approve IFP and form EIFD. File the Change of Jurisdictional Boundaries with the State Board of Equalization, as needed. M. Task 13 Deliverables: Deliverables shall be determined in accordance with Section VI of this Exhibit "A ". III. The Contract Officer may approve extensions for performance of the services in accordance with Section 3.2. 01007.0005/621874.4 YIW_AD KOSMR.AS_n1 fY4i �' RRTFRNRFPn ACORU' , , �� CERTIFICATE OF LIABILITY INSURANCE J)-3t� `IyLATE (MM/DD/YYYY) POLICY EXP 1nM' 12020 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must have ADDITIONAL INSURED provisions or be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). PRODUCER License # OC36891 1 CONTACT Brett R Sternberg Lyddy Martin Company PHONE FAX 20300 Ventura Blvd. Suite 340 1 (A/C, No, Ext): (310) 478-2625 317 (EVC, No): Woodland Hills, CA 91364 nI DRIEss: brett@lyddymartin.com INSURERS AFFORDING COVERAGE NAIC # INSURER A: Sentinel Insurance Company,Ltd 11000 INSURED INSURER B : _ Kosmont & Associates, Inc. INSURER c Dba: Kosmont Companies 1601 N. Sepulveda Blvd. #382 INSURER D: Manhattan Beach, CA 90266 INSURER E: INSURER F: COVERAGES CFRTIFICATF NtIMRFR- RFVl.',InN MlIMRFR- THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. INSR UBR POLICY NUMBER POLICY EFF LTR I TYPE OF INSURANCE '�,ADDL'S POLICY EXP LIMITS A X COMMERCIAL GENERAL LIABILITY CLAIMS -MADE X OCCUR X X 72SBABC3942 6/27/2019 6/27/2020 EACH OCCURRENCE $ 1,000,000 DAEAGET Eaoccu a ce $ 1'000'000 RM MED EXP (Any oneperson) $ 10,000 PERSONAL &ADV INJURY $ 1,000,000 GEN'L AGGREGATE LIMIT APPLIES PER: X POLICY FI jEeT F-1 LOC OTHER: GENERAL AGGREGATE $ 2,000,000 PRODUCTS - COM P/OPAGG $ 2,000,000 $ A AUTOMOBILE LIABILITY I'� ANY AUTO OWNED SCHEDULED AUTOS ONLY AUTOS HIRED NON -AWNED ` X AUTOS ONLY X AUTOS ONLY I 72SBABC3942 6/27/2019 6/27/2020 COMBINED SINGLE LIMIT 1,000,000 Ea acade�r t $ BODILY INJURY Per person)$ BODILY INJURY Per accident $ PROPERTY DAMAGE Per.cadent $ $ A X UMBRELLA LIAB li X EXCESS LIAB I OCCUR CLAIMS -MADE X X 172SBABC3942 6/27/2019 6/27/2020 EACH OCCURRENCE $ 3'000'000 AGGREGATE $ 3,000,000 DED I X RETENTION $ 10,0001 $ WORKERS COMPENSATION AND EMPLOYERS' LIABILITY Y / N ANY PROPRIETOR/PARTNER/EXECUTIVE OFFICER/M�MBEREXCLUDED? (Mandatory in NH) If yes, describe under DESCRIPTION OF OPERATIONS below N/A PER OTH- STATUTE ER E.L. EACH ACCIDENT $ E.L. DISEASE - EA EMPLOYEE $ I E.L. DISEASE - POLICY LIMIT i $ DESCRIPTION OF OPERATIONS / LOCATIONS I VEHICLES ACORD 101, Additional Remarks Schedule, may be attached if more space is required The City of Carson, its City Council and all the City Council appointed groups, committees, boards, and any other &ty Council appointed bodies, and the City's elected or appointed officers, and its officials, employees, agents, representatives and volunteers (hereinafter "City and City Personnel" are named additional insured. The insurance is primary and non-contributory - waiver of subrogation is included in favor for the City, its officers, officials, employees, agents, representatives and volunteers, and their respective insurers. See Business Liability Form #SS 00 08 04 05 attached. City of Carson Community Development Department 701 East Carson Street Carson, CA 90745 SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. AU rT/HH O RR�IZZ E��D/REPRESENTATIVE �E�PP R"E S E N TATI V E `_ ACORD 25 (2016/03) ©1988-2015 ACORD CORPORATION. All rights reserved. The ACORD name and logo are registered marks of ACORD (b) Rented to, in the care, custody or control of, or over which physical control is being exercised for any purpose by you, any of your "employees", "volunteer workers", any partner or member (if you are a partnership or joint venture), or any member (if you are a limited liability company). b. Real Estate Manager Any person (other than your "employee" or "volunteer worker"), or any organization while acting as your real estate manager. c. Temporary Custodians Of Your Property Any person or organization having proper temporary custody of your property if you die, but only: (1) With respect to liability arising out of the maintenance or use of that property; and (2) Until your legal representative has been appointed. d. Legal Representative If You Die Your legal representative if you die, but only with respect to duties as such. That representative will have all your rights and duties under this insurance. e. Unnamed Subsidiary Any subsidiary and subsidiary thereof, of yours which is a legally incorporated entity of which you own a financial interest of more than 50% of the voting stock on the effective date of this Coverage Part. The insurance afforded herein for any subsidiary not shown in the Declarations as a named insured does not apply to injury or damage with respect to which an insured under this insurance is also an insured under another policy or would be an insured under such policy but for its termination or upon the exhaustion of its limits of insurance. 3. Newly Acquired Or Formed Organization Any organization you newly acquire or form, other than a partnership, joint venture or limited liability company, and over which you maintain financial interest of more than 50% of the voting stock, will qualify as a Named Insured if there is no other similar insurance available to that organization. However: a. Coverage under this provision is afforded only until the 180th day after you acquire or form the organization or the end of the policy period, whichever is earlier; and BUSINESS LIABILITY COVERAGE FORM b. Coverage under this provision does not apply to: (1) "Bodily injury" or "property damage" that occurred; or (2) "Personal and advertising injury" arising out of an offense committed before you acquired or formed the organization. 4. Operator Of Mobile Equipment With respect to "mobile equipment" registered in your name under any motor vehicle registration law, any person is an insured while driving such equipment along a public highway with your permission. Any other person or organization responsible for the conduct of such person is also an insured, but only with rasped to liability arising out of the operation of the equipment, and only if no other insurance of any kind is available to that person or organization for this liability. However, no person or organization is an insured with respect to: a. "Bodily injury" to a co -"employee" of the person driving the equipment; or b. "Property damage" to property owned by, rented to, in the charge of or occupied by you or the employer of any person who is an insured under this provision. 5. Operator of Nonowned Watercraft With respect to watercraft you do not own that is less than 51 feet long and is not being used to carry persons for a charge, any person is an insured while operating such watercraft with your permission. Any other person or organization responsible for the conduct of such person is also an insured, but only with respect to liability arising out of the operation of the watercraft, and only if no other insurance of any kind is available to that person or organization for this liability. However, no person or organization is an insured with respect to: a. "Bodily injury" to a co -"employee" of the person operating the watercraft; or b. "Property damage" to property owned by, rented to, in the charge of or occupied by you or the employer of any person who is an insured under this provision. Form SS 00 08 04 05 Page 11 of 24 BUSINESS LIABILITY COVERAGE FORM =°contract, written agreement or because of a (e) Any failure to make such Wit` :issued by a state or political inspections, adjustments, tests or suWiv'Wn that,such person or organization servicing as the vendor .has be added as an additional insured on your agreed to make or normally policy, provided the injury or damage occurs undertakes to make in the usual subsequent to the execution of the contract or course of business, in connection agreement, or the issuance of the permit. with the distribution or sale of the A person or organization is an additional- products; insured cinder this provision only for that (t) Demonstration, installation, period of time required-,-.by-the-,:,contract„- servicing or repair operations, agreement or permit. except such operations performed However, no such person or organization is an at the vendor's premises in additional insured under this provision if such connection with the sale of the person or organization is included as an product additional insured by an endorsement issued (g) Products which, after distribution by us and made, a part of this Coverage Part, or sale by you, have been labeled including all persons or organizations added or relabeled or used as a as additional insureds under the specific container, part or ingredient of any additional insured coverage grants in Section other thing or substance by or for F. — Optional Additional Insured Coverages. the vendor, or a. Vendors (h) "Bodily injury" or "property Any person(s) or organization(s) (referred to damage" arising out of the sole below as vendor), but only with respect to negligence of the vendor for its "bodily injury" or "property damage" arising own acts or omissions or those of out of "your products" which are distributed its employees or anyone else or sold in the regular course of the vendor's acting on its behalf. However, this business and only if this Coverage Part exclusion does not apply to: provides coverage for "bodily injury" or (i) The exceptions contained in "property damage" included within the Subparagraphs (d) or (f); or "products -completed operations hazard". (ii) Such inspections, adjustments, (1) The insurance afforded to the vendor tests or servicing as the vendor is subject to the following additional has agreed to make or normally exclusions: undertakes to make in the usual This insurance does not apply to: course of business, inconnection with the distribution (a) "Bodily injury" or "property or sale of the products. damage" for which the vendor is (2) This insurance does not apply to any obligated to pay damages by reason of the assumption of insured person or organization from liability in a contract or agreement. whom you have acquired such products, This exclusion does not apply to or any ingredient, part or container, liability for damages that the entering into, accompanying or vendor would have in the absence containing such products. of the contract or agreement; b. Lessors Of Equipment (b) Any express warranty (1) Any person or organization from unauthorized by you; whom you lease equipment; but only (c) Any physical or chemical change with respect to their liability for "bodily "property in the product made intentionally injury", damage or "personal by the vendor; and advertising injury" caused, in whole or in part, by your (d) Repackaging, except when maintenance, operation or use of unpacked solely for the purpose of equipment leased to you by such inspection, demonstration, testing, person or organization. or the substitution of parts under instructions from the manufacturer, and then repackaged in the original container; Page 12 of 24 Form SS 00 08 04 05 BUSINESS LIABILITY COVERAGE FORM (6) When You Are Added As An When this insurance is excess over other Additional Insured To Other insurance, we will pay only our share of Insurance the amount of the loss, if any, that That is other insurance available to exceeds the sum of. you covering liability for damages (1) The total amount that all such other arising out of the premises or insurance would pay for the loss in the operations, or products and completed absence of this insurance; and operations, for which you have been (2) The total of all deductible and self - added as an additional insured by that insured amounts under all that other insurance; or insurance. (7) When You Add Others As An We will share the remaining toss, if any, with Additional Insured To This any other insurance that is not described in Insurance this Excess Insurance provision and was not That is other insurance available to an bought specifically to apply in excess of the additional insured. Umits of Insurance shown in the However, the following provisions Declarations of this Coverage Part apply to other insurance available to c. Method Of Sharing any person or organization who is an If all the other insurance permits additional insured under this Coverage contribution by equal shares, we will follow Part' this method also. Under this approach, (a) Primary Insurance When each insurer contributes equal amounts Required By Contract until it has paid its applicable limit of This- insurance is primary if you insurance or none of the loss remains, have agreed in a written contract, whichever comes first. written agreement or permit that If any of the other insurance does not permit this insurance be primary. If other contribution by equal shares, we will insurance is also primary, we will contribute by limits. Under this method, each share with all that other insurance insurers share is based on the ratio of its by the method described in c. applicable limit of insurance to the total below. applicable limits of insurance of all insurers. (b)Prllmary� And, Nda-Contributory 8. Transfer Of Rights Of Recovery Against 76 `oft_r.::=Insura ttce When Others To Us Requli irr;rft Cvtitradt a. Transfer Of Rights Of Recovery 'if you have eigree(i.'1h a written If the insured has rights to recover all or coiatraet. tin `agreement or part of any payment, including peitnfit . th2►t.' this .insurance Is Supplementary Payments, we have made pnmary snd ndn-6oft1butory With under this Coverage Part, those rights are the additi0t W -insured's own transferred to us. The insured must do insutance, :this insurance is nothing after loss to impair them. At our ptirnaly acrd wd will not seek request, the insured will bring "suit" or :conftution from' that other transfer those rights to us and help us insurance. enforce them. This condition does not Paragraphs (a) and (b) do not apply to apply to Medical Expenses Coverage. other insurance to which the additional b :, 1�` {i111`��terr= insured 'has been added as an ,-&G t'# additional insured. When this insurance is excess, we will have no duty under this Coverage Part to defend the insured against any "suit" if any other insurer has a duty to defend the - insured against that "suit". If no other insurer defends, we will undertake to do so, but we will be entitled to the insured's such Oattoft o o>r�nl�.aaatiort. Ttt �� rights against all those other insurers. aghmmont=or��perM tttelit teras :exp prior tn`the`finjuryr.�`di� dsm�: Form SS 00 08 04 05 Page 17 of 24 AC RbF CERTIFICATE OF LIABILITY INSURANCE A11151&7+% cctftTHIS DATE/7/2020 ) CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must have ADDITIONAL INSURED provisions or be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). PRODUCER Lockton Companies, LLC 3657 Briarpark Dr., Suite 700 Houston, TX 77042 CONTACT 666-826-8365 PHONE FAX AICNo Ext): A/C No): E-MAIL ADDRESS: INSURER(S) AFFORDING COVERAGE NAIC # INSURER A : Ace American Insurance Co. 22667 EACH OCCURRENCE $ INSURED Insperity, Inc. L/C/F INSURERB: INSURER C: KOSMONT & ASSOCIATES, INC. 19001 Crescent Springs Drive Kingwood, TX 77339 INSURER D: PRODUCTS - COMP/OP AGG $ $ INSURER E: INSURER F: LIABILITY ANY AUTO ALL OWNED SCHEDULED AUTOS AUTOS NON -OWNED HIRED AUTOS AUTOS COVERAGES CERTIFICATE NUMBER: REVISION NUMBER: THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. 1 �7R TYPE OF INSURANCE ADDLSUBR INSD WVD POLICY NUMBER MM DID/YYYY EXP MEFF M/DDY/YYYY LIMITS COMMERCIAL GENERAL LIABILITY CLAIMS -MADE F71 EACH OCCURRENCE $ DAMAGE TO RENTED PREMISES Ea occurrence $ P, MED EXP (Any one person) $ PERSONAL & ADV INJURY $ GEN'L AGGREGATE LIMIT APPLIES PER: POLICY F PRO - LOC OTHER: GENERAL AGGREGATE $ PRODUCTS - COMP/OP AGG $ $ AUTOMOBILE LIABILITY ANY AUTO ALL OWNED SCHEDULED AUTOS AUTOS NON -OWNED HIRED AUTOS AUTOS COMBINED SINGLE LIMIT $ Ea accident BODILY INJURY (Per person) $ BODILY INJURY (Per accident) $ PROPERTY DAMAGE $ Per accident UMBRELLA LIAB EXCESS LIAB OCCUR CLAIMS -MADE EACH OCCURRENCE $ AGGREGATE $ DED RETENTION $ $ A WORKERS COMPENSATIONPER AND EMPLOYERS' LIABILITY Y / N ANY PROP RI / ECUTIVE OFFICER/MEMBEREXCLUDED?❑ (Mandatory in NH) If yes, describe under DESCRIPTION OF OPERATIONS below NIA X C66712679 10/1/2019 10/1/2020 OTH- X STATUTE ER E. L. EACH ACCIDENT $ 1,000,000 E.L. DISEASE - EA EMPLOYEE $ 1,000,000 E.L. DISEASE - POLICY LIMIT $ 1,000,000 DESCRIPTION OF OPERATIONS / LOCATIONS I VEHICLES (ACORD 101, Additional Remarks Schedule, may be attached if more space is required) WAIVER OF SUBROGATION IN FAVOR OF CITY OF CARSON WHEN REQUIRED BY WRITTEN CONTRACT, CERTIFICATE HOLDER CANCELLATION CITY OF CARSON COMMUNITY DEVELOPMENT DEPARTMENT 701 E. CARSON ST. CARSON, CA 90745 ACORD 25 (2016/03) SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. AUTHORIZED REPRESENTATIVE iP]:I&III]iE.II_[+1,1111:1eZKe]11@]ki WAIFan. Im The ACORD name and logo are registered marks of ACORD Workers' Compensation and Employers' Liability Policy Named Insured Endorsement Number Insperity, INC. UC/F KOSMONT & ASSOCIATES, INC. Policy Number 19001 Crescent Springs Drive Symbol: RWC Number: C66712679 Kingwood, TX 77339 Policy Period Effective Date of Endorsement 10/1/2019 TO 10/1/2020 10/1/2019 Issued By (Name of Insurance Company) Ace American Insurance Co. Insert the policy number. The remainder of the information is to be completed only when this endorsement is issued subsequent to the preparation of the policy. CALIFORNIA WAIVER OF OUR RIGHT TO RECOVER FROM OTHERS ENDORSEMENT This endorsement applies only to the insurance provided by the policy because California is shown in Item 3.A. of the Information Page. We have the right to recover our payments from anyone liable for an injury covered by this policy. We will not enforce our right against the person or organization named in the Schedule, but this waiver applies only with respect to bodily injury arising out of the operations described in the Schedule, where you are required by a written contract to obtain this waiver from us. You must maintain payroll records accurately segregating the remuneration of your employees while engaged in the work described in the Schedule. Schedule (X) Specific Waiver Name of person or organization: CITY OF CARSON 701 E. CARSON ST. CARSON, CA 90745 ( ) Blanket Waiver Any person or organization for whom the Named Insured has agreed by written contract to furnish this waiver. 2. Operations: 3. Premium: The premium charge for this endorsement shall be INCLUDED percent of the California premium developed on payroll in connection with work performed for the above person(s) or organization(s) arising out of the operations described. 4. Minimum Premium: INCLUDED 4L1U1M15W= u orize epresen a ive WC 99 03 22 oc<j C9 AI 3RL imCERTIFICATE OF LIABILITY INSURANCE/ 131 TE(MM/DD/YYYY) 0111 1 /10/2020 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFI OLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). PRODUCER CONTACT NAME: Rick Powell Rick Powell Insurance Agency, Llc PHON o E (818) 861-7440 F No): (760) 804-9710 3500 West Olive Ave, Suite 300 E-MAIL rick@Insurence4ca.com Burbank, CA 91505 INSURER(S) AFFORDING COVERAGE NAIC # Phone (818) 861-7440 Fax (760) 804-9710 INSURERA: HISCOX INSURANCE COMPANY INC. 110200 INSURED Kosmont & Associates, Inc. dba Kosmont Companies 1601 N Sepulveda Blvd #382 INSURER E Manhattan Beach CA 90266 INSURER F: COVERAGES CERTIFICATE NUMBER: REVISION NUMBER: THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. ILTR TYPE OF INSURANCE ND R WVD POLICY NUMBER MM DDDLPUBR Y/YYYY EFF MM%DD EXP LIMITS ❑ COMMERCIAL GENERAL LIABILITY ❑ CLAIMS -MADE ❑ OCCUR ❑ EACH OCCURRENCE $ DAMAGE TO RENTED PREMISES Ea occurrence $ MED EXP (Any one person) $ ❑ PERSONAL & ADV INJURY $ GEN'L AGGREGATE LIMIT APPLIES PER: 11 POLICY [:]JECT ❑ LOC ❑ OTHER GENERAL AGGREGATE $ PRODUCTS - COMP/OP AGG $ $ AUTOMOBILE LIABILITY ❑ ANY AUTO ❑ ALL AUTOS OWNED ❑ SCHEDULED AUTOS NON -OWNED HIRED AUTOS ❑ AUTOS F1$ ❑ ❑ COMBINED SINGLE LIMIT Ea accident $ BODILY INJURY (Per person) $ BODILY INJURY (Per accident) $ PROPERTY DAMAGE Per accident $ ❑ UMBRELLA LIAB ❑ OCCUR ❑ EXCESS LIAB ❑ CLAIMS -MADE EACH OCCURRENCE $ AGGREGATE $ ❑ DED ❑ RETENTION$ $ WORKERS COMPENSATION AND EMPLOYERS' LIABILITY Y / N ANY PROPRIETOR/PARTNER/EXECUTIVEL] OFFICER/MEMBER EXCLUDED? (Mandatory in NH) If yes, describe under DESCRIPTION OF OPERATIONS below N / A ❑ STEARTUTE ❑OTH- ER E.L. EACH ACCIDENT $ E.L. DISEASE - EA EMPLOYE $ E.L. DISEASE - POLICY LIMIT 1 $ A Errors & Omissions Coverage Y MPL1425837.19 03/15/2019 03/15/2020 $2,000,000/$2,000,000 Per Claim/Aggregate DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES (Attach ACORD 101, Additional Remarks Schedule, if more space is required) Certificate holder is Additional Insured perform PLPMPL P0002 CW (06/14) attached. Retroactive Date 03/15/2007 GCKIIFIGAIt HULUtK CANCELLATION City of Carson Community Development 701 E. Carson Street Carson, CA 90745 ACORD 25 (2014/01) QF SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. AUTHORIZED REPRESENTATIVE ©1988-2014 ACORD CORPORATION. All rights reserved. The ACORD name and logo are registered marks of ACORD