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<br /> 1 <br />Contract for Services <br />Between the City of New Brighton <br />And <br />Metropolitan Consortium of Community Developers <br />for the <br />New Brighton Open to Business Program <br /> <br /> <br />THIS AGREEMENT, is made and entered into as of the 1ST day of January, 2016, between the <br />City of New Brighton (herein called “CONB”) and Metropolitan Consortium of Community <br />Developers, (herein called “MCCD”). <br /> <br />WHEREAS, CONB wishes to retain an entity with the capacity to manage a small business loan <br />fund and provide small business technical assistance to existing New Brighton businesses, New <br />Brighton residents and those parties interested in opening a business in New Brighton (the <br />“Initiative”); and <br /> <br />WHEREAS, MCCD has represented itself as competent to provide the services required to <br />administer and carry out the Initiative; and <br /> <br />WHEREAS, CONB wishes to engage MCCD to provide said services necessary to carry out the <br />Initiative; <br /> <br />NOW THEREFORE, it is agreed between the parties hereto that; <br /> <br />TIME OF PERFORMANCE <br /> <br /> The service to be provided by MCCD shall commence on January 1, 2016 and unless <br />canceled by either party, automatically renew January 1, 2017 and January 1, 2018. <br />Either party may, at their sole discretion and without cause, cancel any remaining years <br />covered under this agreement by providing written notice to the other party at least 30 <br />days prior to renewal. Each Party agrees that a Party that opts out of the contract under <br />these terms shall be subject to no penalty, and held harmless for future liability or <br />obligation related to the terms of this agreement. All services, documents, and <br />information to be furnished or performed by MCCD in order to carry out the Initiative <br />shall be furnished or performed as promptly as possible, and with the fullest due <br />diligence. <br /> <br />FUNDING <br /> <br />Total compensation to MCCD shall be $12,500 for a one year period (the Contract <br />Amount) to manage the New Brighton Open to Business program. The Contract Amount <br />will be paid in two equal installments: $6,250 due and payable by the CONB upon <br />execution of this Agreement, and $6.250 invoiced and dated on or about 6 months from <br />the agreement date, payable by the CONB.