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City of Ramsey <br />October 7, 1997 <br />Page 2 <br /> <br />Upon completion of our analysis, we will present a written and oral report to the City. In <br />consideration of the above, Springsted proposes to charge the City a fee of approximately <br />$7,500. We will use our standard houdy charges for th~s project and bill on an hourly basis. The <br />fee estimate is based our experience with similar projects. <br /> <br />Recognizing the potential for incurring unforeseen difficulties in the performance of such tasks, <br />we will inform the City on a regular basis as to time expended and expenses incurred. In the <br />event we reach a fee equal to 80% of the estimate ($6,000), we will meet with the City to refine <br />estimates of time and expenses to complete the tasks. We will commence with the project when <br />given notice to do so by the City. <br /> <br />Yours truly, <br /> <br />Robert D. Thistle <br />Senior Vice President <br /> <br />rash <br /> <br />Gerard B. Shannon, Springsted Incorporated <br /> <br /> <br />