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1483 WHEREAS, by a previous contractual arrangement, the City had retained the Calder Corporation, a Minnesota corporation, for purposes of the pro- motion and management of industrial sales in the City Industrial Park; and WHEREAS, Baumeister was formerly an employee of Calder corporation and has worked in connection with the management and promotion of said Industrial Park and is familiar with the development thereof; and WHEREAS, the City's contract with the Calder Corporation will terminate effective in June, 1974, and Baumeister has terminated his employee rela- tionship with the Calder Corporation; and r' WHEREAS, Baumeister desires to enter into an independent contractual relationship with the City whereby he will handle promotion and sales of the Industrial Park, and the City wishes to retain Baumeister's services for said purposes; and WHEREAS, the City and Baumeister wish to set forth in writing their agreement with reference to the considerations to pass between the City and Baumeister incident to the foregoing which writing shall contain all agreements between the parties with reference to said services and the con- siderations therefor; NOW, THEREFORE, in consideration of the premises and of other good and valuable considerations the parties do agree as follows: 1. The City hereby engages the services of Baumeister for the purposes of promotion and sales of Industrial Properties within the control and jurisdiction of the City. Baumeister hereby agrees to accept said engagement. 2. Baumeister shall commence provision of his services hereunder as of the 6th day of June, 1974 and shall so continue to provide services for a period of one (1) year thereafter. After completion of the initial term of one year, this agreement shall continue for additional renewal periods of three (3) months each, provided, however, that after the initial one year term, either party may upon thirty (30) days' written notice to the other [J!:':' party, terminate all rights and obligations hereunder. During the initial one year term either party may terminate this agreement only for the reason of substantial non-performance by the other party. 3. During the period of employment and any continuations thereof, Baumeister shall report to the City Administrator of the City of Hastings, or to such other person or persons as may be designated by the City Council of the City of Hastings directed to Baumeister in writing. 4. Baumeister agrees to faithfully perform the duties assigned to'him by the City, to the best of his ability, and he agrees to devote his full time to the transaction of the City's business as outlined in this agreement, to-wit: the promotion and sales of industrial properties. 5. The City agrees to pay to Baumeister, in conjideration of the services to be performed hereunder, the sum of Nineteen Thousand Eight Hundred Dollars ($19,800.00) per year~ Said fee shall be payable in quarterly in- stallments, in advance. The first quarterly installment in the amount of Four Thousand Nine Hundred Fifty Dollars ($4,950.00) shall be paid on June 6, 1974, and a like payment shall be paid on the 6th day of each of the months constituting the first month of the respective quarters thereafter. Should the contract be continued after the initial one year period, payments shall be continued in the same manner unless otherwise agreed to by both parties. Nothing herein shall be construed to require the City to pay for services to be rendered by Baumeister subsequent to termination, unless the parties U1Il, have agreed to an extension of said services. Upon termination during a quarterly period, a prorata adjustment of payment shall be made based upon the fraction of the quarter for which the contract was in existence. 6. In addition to the compensation hereinbefore provided, Baumeister shall receive from the City the following: