HomeMy WebLinkAboutResolution 1992-047
RESOLUTION NO. 92-47
BE IT RESOLVED by the City Council of the City of North
Richland Hills, Texas, that
1.
The Mayor be, and is hereby authorized to execute the
attached agreement with Stanford Financial Services, Inc. as the
act and deed of this City.
PASSED AND APPROVED this 9th day of November, 1992.
APPROVED:
ATTEST:
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Mayor
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ty Secretary
APPROVED AS FORM AND
LEGALITY:
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T\.'.FORD Fr"'\i'iCL\L >;EHVrCES. ¡';c.
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Stanford Financial Services, hereinafter referred to as collection services to City of North Richland Hills
hereinafter referred to as client. On accounts forwarded to collection firm by client for collection subject
to the following terms, conditions, and provisions:
(1) All collections efforts including but not limited to telephone calls, personal contacts, and
correspondence shall be conducted in the collection firm name, and not in the name of the client. All suit
actions by the collection firm must be approved in writing by the client. Collection firm agrees to utilize
one or more law firms located in North Richland Hills to file suit, unless no law firm in North Richland
Hills can be employed. The the collection firm may utilize any law firm.
(2) All collection efforts shall be peaceful and shall not in any manner cause a breach of the peace.
(3) Client will keep the collection firm informed of any payments received by client on accounts
transferred to the collection firm so that such accounts may be properly credited.
(4) Each month the collection firm shall furnish the client a itemized statement showing for such
period the amount of such payment received. The date of payment and the party making the payment.
(5) The collection firm shall promptly remit to the client the amount of all monies collected during
each preceding thirty (30) day period less applicable collection fees unless other arrangements have been
so stipulated in section nine (9) on page (2).
(6) The collection firm promises and agrees to indemnify client. its successors and assigns and to
hold client harmless from and against all damage, cost. loss and expense including but not limited to any
attorney fees and witness litigation expense of every nature that client may suffer, incur or become bound
for by reason of any actions, suits, proceedings, claims or demands made by the collection firm or in the
collection firm's behalf or at the collection firm's direction, except with respect to any such damage, cost,
loss or other expense caused by failure of client to furnish pertinent information in the manner agreed to
by the client. Client, in consideration of the promises of the collection firm agrees that the information
furnished the collection firm regarding the identity of the debtor, balance of the account and the payments
and credits due client will be accurately taken from the client's books and records. Client certifies that
information given on behalf of an outstanding balance due the client is accurate. Client agrees to hold
harmless the collection firm as result of inaccurate information given to collection firm.
(7) The unpaid balance of any account transferred to the collection firm hereunder will be
promptly transferred to client upon its written request with thirty (30) days notification with the exception
of any account upon which suit has ben filed.
(8) Upon placement of accounts for collection to the collection firm, clients agrees that:
A. Commission on such accounts are earned whether payment is made direct to client or the
collection firm, subject to collection firm showing proof of initiation of collection efforts.
B. Full commissions are due and payable on accounts withdrawn from collection firm while in
the process of immediate negotiation or adjustment upon receipt of payment by client.
(9) Commission schedule:
30% contingency on accounts placed for collection where collection efforts have been
initiated.
Accounts will be listed with credit bureau if no payment in thirty (30) days.
This Agreement supersedes and replaces any prior agreements, understandings or arrangements whether
wTitten or verbal, and may be modified, amended or terminated only by the written agreement.
ACCEPTED BY:
CITY OF NORTH RICHLAND HILLS
STANFORD FINANCIAL SERVICES, INC.
~ÁAÀ~ ~~
AUTHORIZED rNATURE
P. O. Box 820609
North Richland Hills, TX 76182
AUTHORIZED SIGNATURE
12801 North Central Expressway #1401
Dallas, TX 75243
Date