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Michael S. Walsh, PC - Engagement of Legel ServicesMICHAEL S. WALSH, PC May 22, 2006 Mr. Ron Carter, President Carmel Redevelopment Commission One Civic Square Carmel, IN 46033 RE: Engagement of Legal Services Dear Mr. Carter: The purpose of this letter is to confirm the terms and conditions of my representation of the Carmel Redevelopment Commission (CRC). Regarding the services described herein, the CRC, and no other agency or officer of the City of Carmel, is my client. With my engagement by the CRC, I understand that only you, and your duly authorized agents, have the authority to direct my representation of the CRC. I will accept direction only from you, or your duly authorized agents. Additionally, I will obtain approval from you before the commencement of work on any CRC legal matter. My services to the CRC will include, as and when authorized by you: (a) advice with respect to the acquisition and disposition of real property (including negotiating and documenting purchases and sales of land and related letters of intent); (b) advice with respect to redevelopment projects of such specified real property (including negotiating and documenting project agreements and related letters of intent); and (c) advice with respect to other contractual matters relating to such specified real property (including negotiating and documenting agreements with contractors and consultants). Legal fees are determined based on the billable time spent providing legal services to CRC. I agree to provide legal services to CRC during the calendar year 2006 at an hourly billing rate set forth on Schedule A. I will not change the rate during the calendar year 2006. I will make every effort to keep my fees at a reasonable amount for each legal matter. Fees and expenses will be billed monthly. Reimbursable expenses billed to the CRC will include only the actual out -of- pocket expenses that I incur in connection with providing legal services to CRC (such as charges for messenger services, overnight delivery, and long- distance conference calls). Fees and expenses for which you are billed will appear on itemized statements, in accordance with Schedule A. 11350 N. Meridian Street. Ste 420. Carmel, IN 46032 -4528 317 -575 -5700 Fax: 317 -575 -5704 I understand that deadlines have to be met and procedures have to be followed before payment can be rendered. My expectation is that, if I tender a bill to you by the end of the calendar month, then it will appear on the agenda for the next regular CRC meeting, and, upon your approval, it will be paid in the usual course of City business. I expect that you will terminate my representation of CRC if: (a) I fail to provide services in accordance with this letter; (b) I have a conflict of interest; or (c) I fail in any way to meet my ethical duty to the CRC. Of course, you will be free to terminate my representation at any time and for any other reason. Correspondingly, I may terminate my representation if: (a) there is a failure to timely pay fees properly billed and owing; (b) I discover any conflict of interest; (c) I discover that you have made a misrepresentation in connection with any legal matter that I am handling for you; or (d) you fail to cooperate with me in my representation of you. If you have any questions or concerns, please do not hesitate to call. Please sign below to acknowledge and accept this engagement letter. Sincerely, Michael S. alsh ckn. - : ged and accepted may I , 2006. ald E. Carter, President 11350 N. Meridian Street. Ste 420. Carmel, IN 46032 -4528 317 -575 -5700 Fax: 317 -575 -5704 Schedule A Hourly Rate: $250.00 11350 N. Meridian Street. Ste 420. Carmel, IN 46032 -4528 317 -575 -5700 Fax: 317 -575 -5704