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Mr. William K. Goodrich <br />RANDALL and GOODRICH, P.L.0 <br />November 16, 2011 <br />Page 2 <br />The fee for this Phase I appraisal consulting service is as follows: <br />8020 147th Avenue NW, Ramsey $ 8,000 <br />14590 Armstrong Blvd. NW, Ramsey $12,000 <br />8019 146th Avenue NW, Ramsey $ 8,000 <br />Total $28,000 <br />The reports will be completed within six weeks from authorization to proceed. If at a later date <br />the Phase II appraisal is needed it will be completed for an additional cost to be determined at <br />that time. If testimony is required it will be billed at $275/hour for time spent in preparation, <br />review and testimony. Any exhibits used at the trial will be invoiced at our cost. These fees are <br />not contingent upon the estimates of market value that will be made. <br />My resume is attached to assist you with your appraiser selection. Additional information can be <br />obtained at our web site which is www.irr.com. I can also provide personal references should you <br />require those. <br />If this proposal is acceptable, please authorize us to proceed by executing this letter agreement <br />where noted below. Thank you for considering us for this assignment. Please contact me, at your <br />convenience, if you wish to discuss this proposal or the assignment any further. In any event, I <br />offer my best wishes for a successful outcome to this matter. <br />Respectfully submitted, <br />INTEGRA REALTY RESOURCES — MINNEAPOLIS / ST. PAUL <br />Michelle D.M. Koeller, MAI, MRICS Authorization to Proceed with Phase I Appraisal Service <br />by: <br />(date) <br />