2001-225 ORDINA~CENO
AN ORDINANCE OF THE CITY OF DENTON, TEXAS AUTHORIZING THE CITY
MANAGER TO EXECUTE A FERSON,~ SERVICES AO~EMENT FOR ASSET
P~COVE,~Y SERVICES mt~ ~m~ ~COW~V, mC tO ASSIST ~TON m
~cow~ ~o~ ASS~S ~o ~c~ ~ c~v ~s ~P~NT~v ~NT~T~,
A~ PROVinG ~ EFFECTIVE DATE
~E~AS, Gre~bn~ Recow~, Inc (~eenbnm) has located do~t c~h ~sets m
· e ~o~t of $42,520 71 which ~eenbnm m&cates rightfully belongs to the City of Denton,
~d
~E~AS, the C1W Co~cfl deems ~t m the pubhc mterest to employ ~eonbn~ on a
contingent foe bas~s of 10% of ~y cash recoveu of the assets ff ~eenbn~ ~s suecess~l m
~s~stmg Denton m recovenng those assets, NOW, THE~FO~,
THE CO~C~ OF THE CITY OF DENTON HE.BY O~A~S
SECTION 1 That ~e C1W M~ag~ ~s hereby authorized to execute a Personal Se~lees
Agreement for ~set recove~ so.cos wi~ ~oenbn~ Recovew, Inc to assist the C~ty m
recovenng do~t cash assets, ~n subst~tmlly ~e fo~ of ~e Agre~ent attach~ hereto ~d
lnco~orated h~e~ by reference
SECTION 2 ~at ~e C~W M~ager is hereby authorized to m~e ~y pa~ents ~d to
t~e ~y athens ~at may be authorized ~der ~e attached A~eement
SECTION 3 That ~ls ordm~ce shall become effective ~edxately upon its passage
~d approval
E~ BROCK, MAYOR
ATTEST
JENNIFER WALTERS, CITY SECRETARY
APPROVED AS TO LEGAL FORM
HERBERT L PROUTY, CITY ATTORNEY
STATE OF TEXAS §
COUNTY OF DENTON §
PERSONAL SERVICES AGREEMENT
FOR ASSET RECOVERY SERVICES
Tins Agreement xs made and entered into on the /q'~' day of (~/.-..~ ,2001, by
and between the City of Denton, a Texas Mumelpal Corporation with lt~pnneapal office at 215
E McKanney Street, Denton, Denton County, Texas 76201 (hereinafter referred to as
"Claimant") and Greenbnar Recovery, In¢, P O Box 361358, Los Angeles, CA 90036-9998
(hereinafter referred to as "Greenbnar")
WHEREAS, Greenbnar has located dormant cash assets ~n the amount of $42,520 71
winch Greenbnar indicates rightfully belongs to the C~ty of Denton, and
WHEREAS, the City of Denton (Clmmant) desires to engage Greenbnar to assist it ~n
reeovenng these cash assets
NOw, Therefore, in consideration of the promises and mutual undertakings herein
contained, the parties agree as follows
1 Upon receipt of this executed agreement, Greenbnar will disclose to the City of Denton
the source and nature of exactly $42,520 71 m dormant assets to winch claimant is
apparently entitled In consideration of Greenbnar's location of and assistance in the
recovery of these dormant assets Claimant and Greenbnar agree to the following
(a) Greenbnar will at Claimant's discretion use its best efforts to assist the Claimant in
the recovery of these assets
(b) The Claimant may forego recovery at any time and for any reason and may terminate
tins Agreement without cause upon giving notice in writing to Greenbnar by faxmg
such notice to Greenbnar at (323) 936-1088 or by sending said notice to Greenbnar
Recovery, Inc at P O Box 361358, Los Angeles, CA 90036-9998
(c) All expenses pertaimng to the recovery process shall be the sole responslblhty of
Greenbnar
(d) No fee commission or other consideration will be due Greenbnar unless the dormant
assets, or any part of them, are recovered and dehvered to Claimant
(e) If Claimant has attempted to obtain or recover these assets within the previous six (6)
months of the date of this Agreement and provides reasonable documentation to
Greenbnar evidencing this, then Greenbnar will be due no fee or commmslon
regardless of whether it assists in the recovery of the dormant assets or not
(f) If recovery ~s pursued on Clmmant's behalf by Greenbnar, or as a result of
Claimant's or Greenbnar's action and any cash or cash eqmvalent ~s received, then
Clmmant agrees to pay 10% of any cash or cash eqmvalent recovered to C-reenbnar
w~thin 30 days of the Claimant's receipt of the funds
2 Greenbnar shall comply with all federal, state, local laws, rules, regulations, and
ordmances apphcable to the services performed pursuant to this Agreement, as they now
may read or hereinafter be amended
3 Crreenbnar shall not assign any mterest to this Agreement and shall not transfer any
~nterest m this Agreement (whether by assignment, novation or otherwise) w~thout the
prior written consent of the Cl~umant
4 This Agreement, including all exhihits and amendments annexed hereto and made a part
hereof, constitutes the entire agreement between the part, es hereto w~th respect to the
subject matter hereof and supersedes all other oral or written representations,
understandings or agreements relating to the subject matter hereof The only exhibit
attached to th~s Agreement is the L~m~ted Power of Attorney Letter which ~s attached to
and made a part of this Agreement for all purposes authonmng Crreenbnar as ~ts agent for
Clatmant to collect funds due Denton
5 Venue of any stat or cause of action under this Agreement shall he exclusively m Denton
County, Texas This Agreement shall be governed by and construed m accordance w~th
the laws of the State of Texas
6 This Agreement may be returned to Greenbnar or Clmmant by facsimile transmission, ~n
which case the s~gned facsmule shall be deemed an ortgmal
7 Each party represents that ~t ~s authorized to enter m to th~s agreement and that the
md~wdual executing th~s agreement on behalf of the party ~s authorized to enter rote this
agreement
1N WITNESS WHEREOF, the C~ty of Denton, Texas, has caused this Agreement to be
executed by ~ts duly anthonzed C~ty Manager, and Greenbnar has executed this agreement by ~ts
duly authorized official
EXECUTED on this the//~e ~'~ay of (/~{~ ,
2001
CITY OF DENTON, CLAIMANT
MICHAEL A CO~TY MANAGER
Page 2 of 3
ATTEST
JENNIFER WALTERS, CITY SECRETARY
APPROVED AS TO LEGAL FORM
HERBERT L PROUTY, CITY ATTORNEY
BY ~/~~
GREENBRIAR RECOVERY, INC
Page 3 of 3