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Mr. William K. Goodrich November 18, 2011 Page Three Special Qualifications Appraisal and consulting reports prepared for litigation purposes comprise a significant portion of our practice. Our experience includes assignments commissioned by clients who work within both the public and private sectors. Clients also include those who have become familiar with our work product when representing plaintiffs or defendants on an opposing side. Our analyses are well thought-out, supported, and therefore, well respected and received by attorneys and authoritative bodies. Appraisal and Consulting Fee Structure Hosch Appraisal & Consulting, Inc. handles its accounts on an hourly basis, with total fees for each individual appraisal of the type proposed in the above Scope of Assignment typically ranging between $2,500 and $4,500 depending on the type of acquisition (total or partial) and whether the property includes substantial impacts to evaluate. Due to the complex scope of work outlined above, it is difficult to provide a lump -sum fee quote at this time for each individual appraisal assignment. We keep detailed time sheets on each job and the information is available to our clients, if so desired. The goal is to use a team approach in order to maximize efficiency and match the tasks with the appropriate skills of various team members. Our normal 2011 billing rates range from $90 to $285 per hour (Stephen T. Hosch, MAI has a normal hourly billing rate of $255 and a trial preparation/testimony rate of $285 per hour); however, given the potential for a larger volume of work through appraising three properties in the same location, we will provide you with discounted hourly rates equivalent to a 10% discount off our normal 2011 hourly rates for the first year of this proposed contract before rounding to the nearest $1.00, with hourly rates for the second year of this proposed contract increasing by 3% before rounding to the nearest $1.00, as follows: Stephen T. Hosch, MAI Nathan Brooberg Derek Pederson Jonathan Barclay Ann Hosch 2011 Normal Hourly Billing Rates* $255.00 $145.00 $145.00 $112.50 $90.00 City of Ramsey 12/1 /11-11 /30/12 Discounted Hourly Billing Rates* $232.00 $132.00 $132.00 $102.00 $82.00 City of Ramsey 12/1/12 to 11/30/13 Discounted Hourly Billing Rates* $239.00 $136.00 $136.00 $105.00 $84.00 The above fee schedules include preparation of an electronic work file memorandum in PDF format. Color hard copies are available at an additional charge, if requested. Travel expenses, long-distance phone calls, and other extraordinary material costs are also billed in addition to the indicated fee quotes. All client meetings, expanded scopes of work (including updates and any upgrades of reporting to narrative appraisal reports, exhibit preparation and testimony) and additional consulting authorized by you are billed in addition to the indicated fee quotes at the above discounted hourly rates. No retainer is necessary in order for us to begin working on the assignment. The fee will be billed on the earlier of either a monthly basis or once the job is finished, with payment due immediately upon receipt. We do accept credit card payments with VISA, MASTERCARD and DISCOVER. If you wish to pay by credit card, please call Ann Hosch at our office at (612) 331-1688 to process the transaction over the telephone.