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Jackson Research & Consulting/DOCSJackson'ResearGli and Consulting Dear mem of Community Services - 2009 Appropriation' 1192-404; P.O. #19742 Contract Not To Exceed $24.500 FORM LY. AGREEM. ENT'FOR PROFESSIONAL SERVICES THIS AGREEMENT FOR PROFESSIONAL SERVICES ("Agifeemcnt") is hereby made and entered into by and between the City of.Carmel,.Indiana, acting by. and through its Board of Public Works and Safety (hereinafter "City'), and Jackson Research;and Consulting,(hereinaRer "Professional"). RECITALS WHEREAS City owns and is responsible for the operation and maintenance of,its property, personnel, public works and'infrastructure; and WHEREAS,,, from time to time, City needs; professional assistance in fulfilling its, foregoing responsibilities; and WHEREAS', Professional is experienced. in providing and desires to provide to City the professional services ("Services") referenced herein;.and. WHEREAS, City desires- to engage Professional as an independent contractor for the purpose of providing to City the Servicesreferenced herein; NOW, THEREFORE; in consideration of the foregoing recitals and"the covenants and conditions set forth herein; City and,Professional mutually-agree as follows: SECTION 1. INCORPORATION OF'RECITALS' The foregoing' Recitals are hereby incorporated into,this Ag'eement,and'thade-a part hereof. SECTION 2. SCOPE OF SERVICES 2.1 City desires to engage Professional as an independent. contractor, for=the Servicas, set forth in attached Exhibit A, incorporated hercin bythis reference. 2.2 Professional understands and agrees that City may; from time to time, request "Professional to provide additional or modified Services to City. When City,desires,additional Services _from Professional, the City shall notify Professional of such additional Services desired, as well 'as the time, frame in.whicti_same are to be provided. Only after City has approved,ProfessionaPs-(ime and cosr'estimate for-the provision of such, additional Services, has encumbered sufficient monies to pay for same; and+as-authorized Professional in-writing; to provide-Such additional Services; - shall such Services7be provided by ProfcssOiial to Ciiy. A copy o"f the City's authorization documents for the purchase otadditional Services shall` be numbered and attached hereto''in the order, in which dwyare approved by City_, 2.3 Time is of thc:essence of this Agreement. ?zlliaavA+Sq uR??*n+emte.Smasrcv4csiFOwtsadr and Swnao roan uw hgtmc3iea'unvm Abr 1 -Jackson Research and Consulting Deparnnent of Community Services - 2009 Appropriation 1192-404; P.©.419742 Contract Not To Exceed $24,500 SECTION 3.. CITY'S RESE0h15IBILITIES 3.1 City shall provide such information as is?reasonablynecessary for P'rofessional`to understand the, Services requested. 3.2 City shall provide all data required for provision of Services. Professional may assume that ail data so provided is correct,and complete. 3.3. City shall-arrangefor Professional to enter uponpublic;and"pllvate property as reasonably required for Professional:to•perfornrahe Services. 3.4 City shall designate-'paym cnt. of the Services from City budget,,appiopriatian number 1192-404 funds. 3.5 City shall designate the Mayor or his duly'authorized.re_presentatiye to. act on City's behalf on.all' _ matters regording`the Services.. SECTION 4. PROFESSIONAL'S'RESPONSIBILITIES 4.1 Professional shall perform the, Services pursuant' to the terin_ s of this Agreement and within any applicable;"time and,cost'estimate. 42 Professional shall coordinate with City its perfonnance oftha'Services. 4.3 Professional, shall provide the Services by?following and applying at all times reasonable and lawful standlardsas accepted'in the industry: SECTION 5. COMPENSATION 5.1 Professional estimates that the total.price fof the.Services to be provided to City hereunder shall be no more than Twenty Four Thousand Five Hundred Dollars (524;500.00) (the 'Estimate"), Professional shall submit, an invoice to Cityno more than once every thirty (30) days for Services provided City during the time period cncontpassed by.such°invoice. Invoices shall be submitted on a -form containing,'the. same information as that contained on the Professional Services Invoice attached hereto as`.Exhibit B,,incoiporated_herein by, this feference. City-shall pay Professional for all undisputed. Services rendered and stated on such invoice within sixty (60) days from the date.of City's receipt of same, or be subject;to a late charge of one peccerd (1%) of such unpaid and undisputed invoice amount for each.month'same remains`unpaid: 5.2 Professional agrees not.to provide any Services to City'that 'would cause the'total cost of same to exceed the-Estimate,` without City',scpriorwritten consent., --- - [i??[m.,'uf: ??nmmvrv•V.nlniiooal5mi?c?i0M6?amfu•?oda I-. POW 8123 1 erc'.?iNlaw nsi a M 2, Jackson Research and Consulting Departn5enf of Community Services - 2009 Appropriation 1192-404; P.D. 419742 Contract Not To Exceed $24,590 SECTION b. TERM Unless otherwise terminated in:accord`ance`with'the termination provisions°set forth imSection 71 -7hereinbelow, this Agreement shall be•in effect from the "Effective Date through December 3,1, 2009, and shall, on the first day of each January there after, automatically renew for a;period Of one (1) calendar year, finless otherwise. agreed bythe.parties hcreto. SECTION 7. MISCELLANEOUS 7.1 Termination. 7.1.1 The obligation to provide all or any-portion of the Services under this Agreettient may be terminated by City or Professional;, without cause; upon thirty (30) days' notice. 7.1.2 The obligation to provide all or,anyportibn of the Services under this.Agreementmaybc terminated-by'Cityfor cause, immediately upon Professional's receipt of Citys"'Notice To Cease. Services." 7:1.3 In the event of full or partial' Ageement termination, and as full and complete compensation hereunder, Professional shall be,paid for all such, Services rendered and expenses incurred as of the date of. termination that are not in. dispute,, except that such payment. amount shall not exceed the. Estimate. ;Disputed compensation amounts shall he resolved as allowed bylaw. 7.2 Binding Effect. City and Professional, and their"respective.officers,;, ffficials„agents; partners,and'successors in interest are bound to the other as to:all, Agreement terms,; conditions an&obligations. 7.3 No Third"Party`Beneficiaries., Nothing contained herein shall be construed to give rights or benefits, to anyone-other than the parties hereto 7.4 Relationship. The relationship, of the "parties hereto shall be as provided for in this Agreement; and neither -Professional not any of its agents, employees or contractors are City employees. Professionalahall have the sole responsibility to pay to or,for its agents, employees and. contractor's all statutory. --contrwtual-and other benefits and/or:obligationsRas-they become due.,Professional hereby warrants and'indemnifes Cify for-and from :any an&a-I] costs, fees, expenses and/or'ddmages incurred by -: City as a result of any claim for wages; benefits oi- otherwise by any agent, employee or-contractor of Professional, regarding or related to the subject matter of this Agreement. This. indemnification obligation shall, survive ihetennination ofthisAgreement. {'L!E b?Nty 0.svru Ala'v','n?vl5urina\FOPA1SPmGVimuSmitu FORA1 Rt+]IMI]Air.IRS^_tY.W 6!]nAQ. 3 fackson Research and Consulting Department of Community Services - 2009 Appropriation 1192-404; P.O. 419742 Contract Not To Exceed $24,500 7.5 Insurance. Professional shall procure and maintain with an insurer licensed to do business in the State of Indiana such insurance as is necessary for the protection of City and Professional from all claims under workers' compensation, occupational disease and/or unemployment compensation acts, because of errors and omissions; because of bodily injury, including, but not limited to, the personal injury, sickness, disease, or death of any of Professional's employees, agents or contractors and/or because of any injury to or destruction of property, including, but not limited to, any loss of use resulting therefrom. The coverage amounts shall be'no less than those amounts set forth on attached Exhibit C. Such insurance policies shall not be canceled without thirty (30) days' prior written notice to City. 7.6 Liens. Professional shall not cause or permit the filing of any lien on any of City's property. In the event such a lien is filed and Professional fails to remove it within ten (10) days after the date of filing, City shall have the right to pay or bond over such lien at Professional's sole cost and expense. 7.7 Default. In the event Professional: (a) repudiates, breaches or defaults under any of the terms or conditions of this Agreement, including Professional's warranties; (b) fails to perform the Services as specified; (c) fails to make progress so as to endanger timely and proper completion of the Services and does not correct such failure or breach within five (5) business days after receipt of ,notice from City specifying same; or (d) becomes insolvent, files, or has filed against it, a petition for receivership, makes a general assignment for the benefit of creditors or dissolves, each such event constituting an event of default hereunder, City shall have the right to terminate all or any part of this Agreement, without liability to Professional and to exercise any other rights or remedies available to it at law or in equity. 7.8 Government Compliance. Professional agrees to comply with all laws, executive orders, rules and regulations applicable to Professional's performance of its obligations under this Agreement, all relevant provisions of which being hereby incorporated herein by this reference, to keep all of Professionals' required professional licenses and certifications valid and current, and.to.indemnify and hold harmless City from any and all losses, damages, costs, liabilities, damages, costs and attorney fees resulting from any failure by Professional to do so. This indemnification obligation shall survive the termination of this Agreement. [Z? 6 ,Wy D.cvmmNAOlwvoY Sanco OWSRafac Sauna FO I 31Yli.d AIV_W 07A.q 4 Jackson Research and Consulting Department of Community Services - 2009 Appropriation 1192-404; P.O. il19742 Contract Not To Exceed $24,500 7.9 Indemnification. Professional shall indemnify and hold harmless City and its officers, officials; employees and agents from all losses, liabilities, claims, judgments and liens, irfcluding, but not limited to, all damages, costs, 'expenses and attorney fees arising out of any intentional or negligent act or omission of Professional_and/or any ofits employees, agents or contractors in the, performance of this Agreement. This indemnification obligation.shall survive the termination of this Agreement: 7.10 Discrimination Prohibition. Professionalrepresents and warrants that it and each of its employees, agents and contractors shall comply with all `.existing and future laws prohibiting discrimination against any employee, applicant. for employment and/or other person in the subcontracting of work and/or in the performance of any Services,conternplated, byJhi s Agreement with respect to hire, tenure, terms, conditions or privileges of employinenPor any matter directly or indirectly related to employment, subcontracting or work perfomtancehereunder because of race, ieligion, color, sex, handicap, national origin, ancestry, age, disabled veteran status or Vietnam era .veteran -status. This indemnification obligation shall survive the termination of this Agreement. 7.11 Severability. If any provision of this._Agieement is held to be invalid, illegal or unenforceable by a court of competent jurisdiction; that provision: shall he stricken, and all other provisions of this Agreement that can operate independently of same shall continue in full force:and effect. 7.12 Notice. Any notice, invoice, order or other correspondencerequired or allowed to be-sent, pursuant' to this Agreement shall be written and either hand-delivered or sent by prepaid.U:S. certified, mail, return receipt requested, addressed to the parties as follows: CITY: City of Cannel Department of-Administration One Civic Square. Carmel; Indiana 46032 ATTENTION: Mike Hollibaugh Douglas Cs Haney Carmel City Attorney One Civic Square Carmel, lndiana,46032 PROFESSIONAL: Jackson Research and Consulting 1206 Webster Street New Orleans,, LA 701.18 ATTENTION: Mark T. Jackson ?L?ASn?YtYfFC?mmuLnrol'asuwat5wivv+lFORAlSIFmfmi®el5u?ivn FORM R- 3Ml 6.11111.a?5] n:Q ] Jackson Researcli and Consulting Department of Community Services - 2009 Appropriation 1192-404; P.O. #19742 Contract Not To Exceed $24,500 Notwithstanding the above, City may orally provide, to Professional any notice required or permitted by this Agreement, provided that such Holies shall also then hesent,as required byth s paragraph within ten (10) business days from?the date of such oral notice. 7.13 Effective Date. The effective date ("Effective Date") of this.Agreement shall be the date on which the last of the parties hereto executes same. 7.14 Governing Law;, Lawsuits. This Agreement shall be governed, by and construed in accordance with'the laws of the State of Indiana, exeeptfor its conflict of laws provisions,,as well as by all ordinances and codes of the City of Cannel, Indiana. The parties, agree that, in the event a lawsuit is filed hereunder, they waive any right to a°jury'ttinl they may have, agree.to'file such lawsuit in an appropriate court-in Hamilton County, Indiana only, and agree that such court is the appropriate venue for and has jurisdiction over same. 7.15 Waiver. Any delay or inaction on the part of either party in exercising oe pursuing its rights and/or remedies.hercunder or"under law shall not operate to waive any such rights and/orremedies nor in any way affect the rights of such party to require such, performance at any time thereafter. 7.16 Non-Assignment. Professional shall not assign or pledge this. Agreement nor delegate its obligations hereunder without City's prior'wtitten,consent. 7.17 Entire Agrcement. This Agreement contains the:entire agreement of and between the parties hereto with respect.to the subject matter hercoLand no prior agreement understanding or representation pertaining to such subject matter, written 6t oral, shall' be effective'for'any,purpose. No provision of this Agreement maybe amended, added to or subtracted from except by an agmement rn writing signed by both parties hereto and/or their respective successors in interest. To the extent any piovisiori contained in this Agreement conflicts: with any provision contained in any exhibit attached hereto, the provision contained`in this,Agreement shall prevail. 7.18 Representation'and''Warranties'. Each party hereto represents and warrants,that•at is authorized to enter into this Agreement and that any person,or entity executing this Agreement on behalf, of'such party has the':.-authority to bind such pnry or the, party which they represent, as the'case'may be. [Z:?ER %Iv0.amuncrlYWix:i?uil Satic6LFORMSVm ,iumA S.nvia t0R 1Rr 2W7i :IM2W X37 AXIi 6 Jackson Research and Consulting Depaiimentof Community Services - 2009 Appropriation 1192-404; P.O. #!19742 Contract Not To Exceed $24,500 7.19 Headings. All headings and sections of this Agrecment are inserted for convenience only and do not form part of this Agreement nor limit, expand or otherwise alter the meaning of anyprovision hereof. 7.20 Advice of Counsel. The parties warrant=that they havc?.read this Agreement, and fully understand it, have had an opportunity to obtain,the advice and assistance of counsel throughouf the negotiation of same, and enter into-same freely, voi'unfarily; and without any duress; undue.intluence or coercion. 7.21 Coovrieht. City acknowledges that various materials which may be used and/or generated by-Professional in performance 'of Services, including forms, job description formats, comprehensive position questionnaire, compensation and.classification plan, an&reports -are_copyrighted. City agrees that all ownership.righ6,and copyrights thereto`lie'with Professional, and City will use,them solely for and on behalf'-of its own operations. City agrees that it will take appropriate action with its employees to satisfy 'its. obligations with respect to use, _copying,, protection and security of Professional's .property.. 7.22 Personnel. Professional. represents that it has, or will secure at"its.ow performing the services under this agreement. Such persotm any contractual relationship with City. All of°the,services re by Professional or under his 'supervision and all personnel qualified"to perform such services. 7.23 Records and Inspections n expense, all personnel required in el shall not be employees,of or have quired hereunder will be performed engaged 'in the work shall be fully Professional shall maintain full and.accurate records with respect to all matters.covered,under this agreement for three (3) years after the expiration or early tcrmination offhis agreement: City shall have free access at all proper times to such records and the right to examine and audit the same and to make tianscripts, there froth, and to inspect all program data, documents, proceedings and activities. 7.24 Accomplishment of Project Professional, shall commence; carryon; and complete thc.project with"all practicable. dispatch, in a sound economical and efficient manner, in accordance with the provisions thereof and all applicable laws. ln,accomplishing the.project, Professional shall take such stepS•as.are appropriate to ensure that the work involved `is`properly coordinated with related work being carried on within City's organization., ?Y?E Pss3 My lhw mm15PrnRVauoW Su.snev DRbLAFmf. waal5aicn FOwn arv iti?l.dov:]?e?i?nxJ].lN?, 7 lark±?rn RcnyircH anE'(:rmsi0iine Pepamacdt of C'n:nmunitp ticrcirzs" Y511 Appmrriatinn 11112-404; p.0. =1971' (ymmem Ni•r Ib Fs<nad 4'4.100 TN N'.IFNESS. WHEREOF. thepnrocn LCrelo lravc. made anc owe wcd this Agrccaxal as.lhll CITY(FCAR-WL: INDIANA" JACKSON RESEARCH ANf),('ON 1I_lam(, by and rhiough'it B4iTt.1 oEPublic Works and Safety :{?Si?nu?urc? P-r JACKSON RESEARCH AND CONSIIL'n NC 18 December 2008 Mr..MAichael P. Hollibaugh City of Carmel One Civic-Circle Carmel, IN 46032, Dear"Mr!'Hollibaugh: Thank you for allowing us to offer you our services. Heine is the proposal that we discussed. Coals of Our Analysis Our study will address ;three basic issues' The long term demand for sales and rental housing in Clay Township-by market-recognized submarket: The suitability of existing and planned development, as well_as undeveloped land, to satisfy potential demand. Product lines,. target markets and geographic,areas that should be considered to further maximize residential market potential. To develop our'basic findings, we will ask and answer a number of questions. These will include, but not.be limited to... When,will the Carmel (ClayTawnship} housing market begin its recover? Will it:be next.year? The year after? When? When Fhe Carmel,ho.usi'ng nmarket recovers-,`what-will it look like? Will there be•,any fundamental changes in demand by submarket? Demand by market segment? Demand by'product:type? 99 1506 WEBSTER: STREET NEW ORLEANS, LA 70118. 504;897-0216 FAX 503-899-3213 16cX1p yJalT _ Mr. Michael Hollibaugh 18 December 2008 Rage•2 What will be the potential annual demand for hew housing in, Carmel once the-,market recovers? Over two years (2010-201 1)? Five years (2010-2014)? By geographic submarket? By tenure -,sales versus rentals? By price? By market segment? By product type? Will existing development in Carmel be suited to expected market-potential? By location=- West Carmel, East Carmel, Old Carmel? By product? By price? Will-development in the works complement demand. or,. enhance demand? What about Legacy? Gramercy? Other proposed development? Can the City of Carmel influence the potential for the'housing market? Specifically, can the City of Carmel take.steps to increase demand and. add more households to the market... byintensifying residential development and product diversity? What types of residential development should be considered to enhance market potential? What is the' .pot_ential'for residential over commercial? Higher-density single-family detached',hous''ing?' Higher- density attached development? Stacked units in elevator buildings? At what price ranges (based on potential. market demand and typical development;. costs)? If the City of Carmel directs market. potehtiai,-what is the increased potential demand for housing? Types of housing and where? Number of units and households? Houseliolcls.by age and income? Where will and where should ,the focus of demand be? Old Carmel? East Carmel? West Clay Township?- The Report The answers to these questions - our finings - will be developed in an eleven-section report. HereJs a;detailed look at the working contents of each section... Section I will include our basic advisories on,.. "EXHIBIT V2('? ' 120fi WEHSTFR STREET NEAV ORLEANS; LA 70118 504-D.0216 FAXr504:899-3213' Mr. Michael Hollibaugh 18 December 2008 Page-3 when will-the Carmel residential market recover? What will the Carmel market look like when it recovers? What will be the demand by submarket? What•will be the demand by market segment and type.of'product? Is residential development now in the works (existing and proposed) suited to expected,demand? If potential demand and'supply area poor fit, where and what are the mismatches?? Can residential market potential be enhanced through product? If yes, what product lines and where? Section II will include an overview of the Carmel market. In this section, we will div_ideahe Carmel (Clay-Township) area into market- recognized submarkeis. Our most likely divisions... West Clay Township - west of U.S_ 31, Old Carmel - between U.S: 31 and U.S 431 and East Carmel - east of U.S. 3-1 . W"e will exarr ine•the.demographic character of each subrnarket as well as the character of the existing housing inventory. Section III and IV will review new construction activity in:the Carmel marketplace.,. sales and rental development over th_e.last three to five-years. In Section III, we will feature-sales housing. At the submarket,level, we will report-on units permitted, units closed and current lot inventories. For sales housing at the subdivision level,,we will also look at-product, pricing and target market`s. Section IV will address rental housing. In this section, we will review primary apartment-projects that have been recenfly developed, providing comments on occupancy rates (Where possible); rents, product and market appeal. Section V will look at planned development. Our focus will be on key projects; such as Legacy and Gramercy. However, wewill.consider all primary projects now in,the works .,.typical sales and'rentals projects as well as :special use development.such as:assisted living. For each, we will consider potential yield, potential product, likely pricing and target markets? Section VI will 'identify product lines°that'are currehtly missing from the Carmel market and the market segments that they typically appeal to. Our list of alternative productaines will be sensitive to existing. 1206 WEBSTER STREET' YEW ORLEANS; PIA 70118 '504-897-0216 F.AX-'504-849-32"EXHIBIT 1 Mr. Michael Hollibaugh 18 December 2008 Page 4 development in.the Indianapolis area (not currently being developed in Carmel), as well as, product lines being developed outside of the Indianapolis,area that are legitimate cdndldates for the Carmel market'., In, this section, special attention,will be given to high density uses, attached and detached, vertical and horizontal. Wewill.also consider mixed use develop ment,.name ly residential stacked'on commercial. We will submit a list of product lines we.are considering as soon as possible to get feedback on the City's perspective. Note: Most of our emphasis in•this section will be on:differences, due to product massing.. However, we also plan'to look at,alternative Iivirig;for.older, adults...age restricted communities,'independent living and assisted living. sections. Vll will address the total demand:fdr sales housing in Carmel by submarkets. We.wlll look-.at the combined demand for new sales and resales by age of household head, household income,and sales price potential. We will:.break out demand by submarket. Section Vlll will consider the potential demand for new sales housing, only. In this section, we will develop much greater detail on demand by price range, market segment and product requirements. Our demand by price range will break potential demand into meaningful price points._Under'$200,000,.$200,000-$400,040, s4oo,o00-$6©0,000, S600,00 , 0=..$900,000 and Q900;000 plus; Demand by market segment.will identify groups by household income as well as househoid type... Kouseholds with children. by age of household'head and age of children, households without.chtldren under 45 years old, active empty-nest households under 65 years old, active empty nest households over 65 years old, assisted living cand.idatesand. other market,segments based on lifestyle characteristics. (Note: We.will submita list`of market,segments prior to our demand,analysis for'your feedback. We will add market segments, if needed.) Demand by product type will address the demand for attached and detached sales units, by-general massing and square footages. at least two time periods in our demand We-plan to develop estimates for new construction: 20.10=2'011 and.203 2-2'014. if needed, we can expand our second time.,period'to;run through 2016. "E HABIT L?- _y9 1206 WEBSTER STREET NEW OR LF:A;\'S,' :A 70118 '504-897-0216 •FAX 504-899,3213 Mr. Michael 1-Iollibaugh 18 December 2008 Page 5 Section IX will consider the potential demand: for rental housing. Our demand analysis for rentals will-:be more, general; in scope,.featuring the potential by age of household,head; income, rent potential, product and lifestyle requirements. Section X will provide a broader perspective on residential demand, examining the demand-for housing in Hamilton County and the greater Indianapolis market. Our focus.at this level Will be on the current balance between supply and demand and,when the housing market is expected, to recover. Section XI will review the Indianapolis area economy..-current trends in employment and'the outlook for the next. two to five,years. Special attention will be:given,to key employers in the market HOW WE WILL. CONDUCT OUR STUDY Our-analysis will bebased on primary and secondary types of research. We typically`ufilize the following approach. However, this pattern will be charlged.d,epending on the availability of information.. Orientation meeting: We fi"rst meet with project representatives (in person or by phone) to discuss our proposal, specifically the goals of our analysis' (as'descriE ed above) and the time frame for, our reporting. In addition, wemill review data that will be needed for our study and its availability, requesting information that is available tHeough the City. Field research. Following our orientation meeting, We will inventory the Carmel housing market. We-will visit all active new construction projects in the market and review proposed development. In addition„we will iritervi'ew planning tepresentatives„-zoning officials, builders, developers, architects, land planners and other experts on the Carmel housing marketplace. These.interviews will be designed to illustrate the.market's potential, from varied points of view. Prior to conducting the, interviews, we will submit a list of candidates for your review,and any additions.. In-house research. The..bulk of-our demand analysis will be in- house. We. will draw heavily on 'secondary sources that can provide us with patterns in demand. These will include local, state and national iL 9 1206 WEBSTER STREET NEW ORLEANS, LA 70118 AN-897-1216 FAX 504-899-3213 ' / `".XHIBIT -' Mr. Michael Hollibaugh IS December:2008 Page 6 agencies. Our in-house research will also include phone. interviews with safes'agents and experts on sales housing in the market. These will be. designed to flesh. out; ve-rify and/or disprove.our findings in the field. Timi!B We will require 50'to 60 days from authorization to the.submissi.on of our report. Here is our proposed timeframe, anticipating authorization of our work before year end ... Weeks of January Q,511and. 121" In house research, The week of the 1911 Field research or`in house research The week of the 2&h Field Research or in house research Weeks of February 2nd and 911 Follow up research on field study and demand analysis. The weeks of 16t1 and 2'31' Report writing and any additional in- house oi? field research. The week of the March 2nd Submission of report. The week of-the 9" Report presentation. We will also keep you iriformed of our progress on a weekly basis. Each Monday we will>submit'a brief memo outlining work completed ,and timing. At.thisetirne, we will also submit.list of interviewees; product and markets,for your review. And, as indicated, we plan to present our findings. in person. This presentation will include..a PowerPoint slide show: FEES AND EXPENSES We expect to incur $24,000 in fee time.and expenses. We will not exceed this amount: within.ourlproposed scope. If additional work is requested, we will provide an estimate for added fees and expenses. Our fees and expenses anticipate two'. trips to the-market..:field -- research and final, presentation. We expect to spend`fourto five days in the market.for our field research and one day for presentation. a? HI IT 1206 %N'ERSTER STREET- NEN' ORLEANS, LA 70118 5014877-0216 FAX 504-899-3213' Mr. Michael Hollibaugh 18 December 2008 Page 7 AUTHORIZATION AND PAYMENT" You may authorize our proposal by returning a signed copy of this correspondence to... Jackson Research and Consulting 1206. Webster New•Orleans, LA 70118 Our fees and expenses will be billed in three components... $8,000 progress payment.aft,er the completion of our field research. $10,000 interim payment after the. submission of our report. $6,000 final payment after presentation of our report and any required follow up.. Please call if you have:any questions. Sincerely, JACKSON RESEARCH,AND CONSULTINC 4 DIg ily y std by Ka 4T ialoom Mark T Jacks M ,-k 7 -k o zo-oe ?x.+a ?o-n ?6 oc6oMark T. Jackson AUTHORIZATION: ----ME---------- - - C----m- NA, ---------------------- O-------- ----------------- ------ Signature/Title Date/Phone Number ce -, 1206 WEBSTER.STREET NEW ORLEANS,LA 70118 504497M16 'TAX. 564.899-3213