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Proposal for Highest and Best Use Study `_ <br /> Mr. Scot Wrighton <br /> Page 7 <br /> We require a 50% retainer prior to beginning the assignment. <br /> After conclusion of our fieldwork, we will issue an invoice for 25% of the project fee. <br /> This payment is due prior to our issuing the draft report. <br /> The final invoice (balance plus expenses) will be sent with the draft copy of the <br /> completed report. Payment of this invoice is required prior to our issuance of final <br /> reports. Hard copies of the report are available upon request for an additional fee. <br /> Any revisions to the report made within 30 days of issuance of the draft are included <br /> in the fee. Any revisions after 30 days will require an additional 10% of the project <br /> fee. If we do not receive any revisions within 30 days, we will issue the final report, <br /> provided we have received payment of the final invoice. <br /> Any invoice that is 60 days past due is subject to a 1.5% monthly finance charge. <br /> Client agrees to pay any fees incurred as a result of collections activity. <br /> We will negotiate fees for any additional services when you request them. Our consulting <br /> services are available at a rate of $150-$450 per hour, depending on the staff person <br /> involved, or we will issue a specific fee quote once the scope of additional services is <br /> determined. <br /> TIMING <br /> We can begin work immediately and will provide you with the report documenting our <br /> conclusions within 60 to 90 days of receiving the retainer payment and the signed <br /> engagement letter. We will work with your appointed representative to ensure the required <br /> data is made available. The delivery date of the draft and final reports is contingent upon <br /> receiving the data requested for the property on a timely basis. <br /> We will communicate with you on a regular basis throughout the project and update you as <br /> needed on our progress. Chronologically, we will: <br /> • Issue a data request list indicating items needed to review as part of our analysis. <br /> • Schedule appointments to meet with you and tour the subject site and local/regional <br /> market. Our fieldwork will include visits to a range of comparable facilities. <br /> • After conclusion of fieldwork, we will conduct additional research and interviews and <br /> analyze additional data to prepare the report. It typically takes a few weeks to <br /> analyze the data and an additional few weeks to write the report. <br /> • Execute internal review of the report for quality control purposes. <br /> • Issue the report in draft format within the timeframe specified in the proposal. After <br /> you review the draft, we will issue the final version of the report, including addenda <br /> items. <br /> f IOTIA-&1_Fi.Uulu rAlwi' oKs 1 &LA <br />