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ICMA <br />RETIREMENT <br />CORPORATION <br />Plan # 3157 <br />ADMINISTRATIVE SERVICES AGREEMENT <br />This Agreement, made as of the day of <br />1992, (herein referred to as the "Inception Date ), between The International <br />City Management Association Retirement Corporation ("RC"), a nonprofit <br />corporation organized and existing under the laws of the State of Delaware - <br />and the City of Hugo ("Employer"), a(n) City organized and existing under the <br />laws of the State of Minnesota with an office at 5524 Upper 146tH Street, <br />Hugo, Minnesota, 55038. <br />Recitals <br />Employer acts as a public plan sponsor for a retirement plan <br />("Plan") with responsibility to obtain the best possible investment <br />alternatives and services for employees participating in that Plan; <br />The ICMA Retirement Trust (the "Trust") is a common law trust <br />governed by an elected Board of Trustees for the commingled investment of <br />retirement funds held. by state and local governmental units for their <br />employees; <br />RC acts as investment adviser to the Trust- RC has designed, <br />and the Trust offers, a series of separate funds (the "Funds") for the <br />investment of plan assets as referenced in the Trustprincipal disclosure <br />document, "Making Sound Investment Decisions: A Retirement Investment Guide" <br />The Funds are available only to public employers and only through the Trust. <br />In addition to serving as investment adviser to the Trust, RC <br />provides a complete offering of services to public employers for the operation <br />of employee retirement plans including, but not limited to, communications <br />concerning investment alternatives, account maintenance, account record- <br />keeping, investment and tax reporting, form processing, benefit disbursement <br />and asset management. <br />-2- <br />