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5 <br />Agreement #2 <br />LETTER OF AGREEMENT <br />Robert S. Segal, CPA, PA ("SEGAL") and Orange County, Town of Chapel Hill and Town of <br />Hillsborough (together referred to as "CLIENT") hereby enter into this Letter of Agreement <br />whereby SEGAL shall serve as a consultant to CLIENT to examine and analyze the following <br />revenue of CLIENT for the purpose of obtaining any tax refunds available in all prior years still <br />open under the statute of limitations. <br />North Carolina Sales/Use Tax Reallocation <br />The Client agrees that the above listed revenue is not currently under tax refund evaluation by <br />CLIENT and all refunds received will be eligible for full payment of fees to SEGAL at the contract <br />rate stipulated below. <br />SEGAL will furnish CLIENT with a written report as to sales/use tax refunds discovered. SEGAL <br />will then prepare the respective refund claims to achieve the refunds. <br />CLIENT agrees to pay SEGAL a fee in accordance with the following FEE SCHEDULE due to <br />Segal's amending of refund returns upon the CLIENT'S receipt of documentation from the North <br />Carolina Department of Revenue evidencing the additional sales/use tax revenue being <br />transferred to the CLIENT. <br />FEE SCHEDULE <br />A sliding scale based on the one percent (1 %) sales tax as follows: <br />25.0% for the first $200,000 of additional refunds obtained, <br />30.0% for the next $200,000 of additional refunds obtained, <br />35.0% for all additional refunds obtained. <br />CLIENT agrees that SEGAL shall invoice each entity (Orange County, Town of Chapel Hill and <br />Town of Hillsborough) for its pro-rata share of the fee based upon its percentage of that <br />quarter's sales and use tax distribution from the state of North Carolina. <br />SEGAL AGREES TO MAINTAIN IN STRICT CONFIDENCE ALL INFORMATION RECEIVED <br />FROM CLIENT CONCERNING ITS EXPENSES AND METHODS OF DOING BUSINESS. <br />FURTHERMORE, SEGAL ACTS AS A CONSULTANT ONLY AND DOES NOT RECEIVE ANY <br />COMMISSIONS OR REMUNERATION OF ANY KIND. FROM ANY VENDORS OR SERVICE <br />PROVIDERS. <br />ROBERT S. SEGAL, CPA PA has contracted with DIXON ODOM PLLC to assist with this <br />project.