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2. COST PROPOSAL <br />As stated previously, the services are provided with no out-of-pocket expenses to the <br />City. Payment processing and registration payments flow directly to HERA. Registration <br />accounts are posted with payment data within our system. HERA retains $100 of each <br />registration fee collected, and 20% of all penalties and late fees. We remit all registration fees <br />collected monthly in accordance with City requirements, with the payment due by the tenth <br />(10th) day of the month following collection of the fee. We work with the City to establish an <br />acceptable process for financial remittance and auditing. <br />We collect and remit all registration fees in accordance with City and state <br />requirements. We work with the City to establish an acceptable process for financial remittance <br />and auditing. Registration accounts are posted and maintained with payment data within our <br />system. HERA's integrated payment processing accepts payment using ACH/EFT, debit, or <br />credit card, and paper check payments are also accepted. Importantly, HERA is NACHA and <br />PCI compliant. HERA maintains full financial records which shall be made available for audit <br />by the City upon request. <br />HERA acknowledges receipt of Addendum 1 dated November 9, 2023 and our Cost <br />Proposal is reflective of this. <br />[The remainder of this page is intentionally left blank] <br />20 <br />