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10/11/99 MON 14:35 FAX 50~ 22a 4606 ~fELVIN hlARK COMPANIES C~ 004 <br />Ivtr. Craig Lewis <br />Melvin Mark Companies <br />October 4, 1999 <br />Page 2 <br />Darz Orr~an and Spence Powell, MAI, vvould be assisting me wzth this projcci. Dan speczalizes in <br />the appraisals of office bui~dings and Spence is imowledgeabl~ with retail, office, and the apa~tment <br />market. <br />This ttssignment would be phased, with the frst phase azriving at pzeliminary values for each <br />scenario and a meeting with Mr. Curtis, Mr. Whittingtox~, and you to discuss our findings. Our <br />projected deli~ery date for this work would be tk~ree to four we~ks ~'rorrl your authorizatzon to <br />proceed. The final phase would be tlie preparation of the document. <br />The estimated f~e for Phase 1 is tim,e and charges to $ l 0,Q00 and the cost to prepare the wnitten <br />document is time and charges to $2,500. Additional zneetings wduld be billed at $150.00 per hour. <br />If you have any questions regardi~g this propasal, please do not hesitate to ca11. ~Ve looI< forward <br />to working wxth you on this exciting ~raj ect. <br />Siz~cerely, <br />bRP: ee <br />LcwisPsa.wpd <br />PA~,MER, GROTH & p~ETKA, INC. <br />~~ ~~n a.~~ ~ , <br />Donald R_ Palm~r, MAI <br />PALMER, GROTH & PIETKA, [NC. <br />