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<br />DRAFT <br />LETTER OF AGREEMENT <br />Robert S. Segal, CPA, PA (SEGAL) and Orange County (CLIENT) hereby enter into this Letter <br />of Agreement whereby SEGAL shall serve as a consultant to CLIENT to examine and analyze <br />certain practices, policies and procedures related to the fiscal operations of the County, the <br />Chapel Hill Carrboro City Schools and Orange County Schools in order to determine if <br />opportunities exist to improve efficiencies in operations and to provide information in the form of <br />questions or observations for the County's consideration. The types of questions and <br />observations contemplated are those that might relate to a comparison of educational resources <br />available to the two school systems that were NOT the subject of the earlier "Educational <br />Excellence Study" conducted by the UNC School of Education on behalf of the County <br />Commissioners. <br />The Client agrees that no such analysis are currently being performed or evaluated by CLIENT, <br />however, that these analyses in some cases could provide for savings and/or generate <br />additional revenues. If such instances occur, these items will be identified by SEGAL and will <br />be applied to the previous agreements dated October 19, 2004, which relate directly to <br />expenditure savings and revenue generation in which SEGAL will be compensated based on <br />provisions in said agreement(s). <br />SEGAL will furnish CLIENT with a written report as to results of his analysis. The report may <br />include, but not be limited to, observations, considerations, recommendations and other items <br />related to the overall operations, practices, and procedures of the agencies involved. <br />CLIENT agrees to pay SEGAL $100 per hour not to exceed 100 hours or $10,000. This fee will <br />be paid following the review and approval by the CLIENT of the work performed by SEGAL. <br />SEGAL AGREES TO MAINTAIN IN STRICT CONFIDENCE, CONSISTENT WITH THE <br />PROVISIONS OF THE NORTH CAROLINA OPEN RECORDS LAW, ALL INFORMATION <br />RECEIVED FROM CLIENT CONCERNING ITS EXPENSES AND METHODS OF DOING <br />BUSINESS. FURTHERMORE, SEGAL ACTS AS A CONSULTANT ONLY AND DOES NOT <br />RECEIVE ANY COMMISSIONS OR REMUNERATION OF ANY KIND FROM ANY VENDORS <br />OR SERVICE PROVIDERS. <br />The persons signing below are authorized to do so on behalf of their respective organizations. <br />This Letter of Agreement shall be binding upon the parties hereto, their heirs, successors and <br />assigns. This Letter of Agreement is entered into effective as of day of <br />CLIENT: <br />By: <br />Title: <br />Robert S. Segal, CPA PA <br />By: <br />Robert S. Segal <br />Title: President <br />