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Mr. Craig Lewis October 4, 1999 <br />Melvin Mark Companies Page 2 <br />Dan Orman and Spence Powell, MAI, would be assisting me with this project. Dan specializes in <br />the appraisals of office buildings and Spence is knowledgeable with retail, office, and the apartment <br />market. <br />This assigrunent would be phased, with the first phase arriving at preliminary values for each <br />scenario and a meeting with Mr. Curtis, Mr. Whittington, and you to discuss our findings. Our <br />projected delivery date for this work would be three to four weeks from your authorization to <br />proceed. The fmal phase would be the preparation of the document. <br />The estimated fee for Phase 1 is time and charges to $10,000 and the cost to prepare the written <br />document is time and charges to $2,500. Additional meetings would be billed at $150.00 per hour. <br />If you have any questions regarding this proposal, please do not hesitate to call. We look forward <br />to working with you on this exciting proj ect. <br />Sincerely, <br />PALMER, GROTH & PIETKA, INC. <br />~~~~~ ~.~ <br />Donald R. Palmer, MAI <br />DRP:ee <br />LewisPsa.wpd <br />PALMER, GROTH & PIETKA, INC. <br />