Agenda Packets - 1988/08/22 - Laserfiche WebLink

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3. The City recognizes that, because of the complexity of the case, attorney's fees at the rate of $150.00 per hour would be reasonable. Therefore, the City will pay as additional legal fees to Eric Valen and Richard Meyers an additif�ne! $100.00 per hour for all hours spent to this A ate. These amounts are to be paid after the City has been reimbursed as set forth in paragraphs 1 and 2 above to the extent that there are funds available from any verdict or settlement. 4. Attorneys Foster, Valen and Meyers will further represent the City from this date at the billing rate of $50.00 per hour; however, Mr. Foster will be entitled to be paid at the rate of $150.00 per hour for actual trial time spent. The City shall pay as additional legal fees to Attorneys Foster, Valen and Meyers an additional $100.00 per hour for future hours spent (except for the trial hours rendered by Mr. Foster). These additonal amounts of $100.00 per hour will be paid after the City has beep_ reimbursed as set forth in paragraphs 1 and 2 above to the extent that there are funds available from any verdict or settlement. 5. After the City has been reimbursed for all of its expenses actually paid, for any property damage incurred, for all additional legal fees incurred as set forth in paragraphs 3 and 4, then from any excess amounts recovered. by way of verdict or settlement Messrs. Foster, Valen and Meyers shall receive as additional legal compensation 15% of said excess funds. We have recently been notifie- that the trial date for this case has been set for September 7, 1988, in Federal Court. We have also received a Notice of a Pretrial -Settlement Conference to be held on September 1, 1988. We anticipate moving for a continuance of this case to allow further discovery and preparation. We will keep you advised. Yours truly, y"&a//4"", :4, Richard Meyers Mounds View City Attorney cc: Eric W. Valen William Foster