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• ADDENDUM <br /> EDA Brown Property Development <br /> Submitted By: <br /> Duke Realty Corporation <br /> The purpose of this addendum is to clarify components of our March 1, 2005 proposal for <br /> the development of the Brown Business Park property and address questions that arose <br /> from our proposal. <br /> How does Duke add value to this project? <br /> Duke adds value to this project in four ways: <br /> 1. Experience <br /> 2. Expertise <br /> 3. Exposure <br /> 4. Owner's Perspective <br /> Experience: <br /> Over a period of thirty plus years,Duke has developed acreage to support more <br /> • <br /> than 115 million square feet of space for its own account and others. Locally, <br /> Duke has developed hundreds of acres for its own account and third party clients. <br /> Throughout these projects we have developed a delivery system to maximize <br /> profitability for both our clients and ourselves by viewing each development as a <br /> unique project with special requirements. The lessons we have learned as a local <br /> and national real estate development company help us add value to the City of Elk <br /> River's project. <br /> Expertise: <br /> Duke is a vertically integrated company. This means that we have in-house <br /> engineers, construction project managers,property managers, and leasing agents <br /> who bring a team approach to every development. Our delivery system is <br /> unparalleled. We have a construction group that starts with our development <br /> services manager, a professional engineer who assesses the best site layout and <br /> maximum site coverage for the project. Then our pre-construction manager <br /> determines the best way to design and construct the buildings while managing our <br /> customer's expectations, city requirements, and construction costs. The pre- <br /> construction manager passes the project on to our project manager who is then <br /> responsible for completing the construction project. This is all done under the <br /> supervision of a Vice President of Construction. Our leasing group is responsible <br /> for selling the space and attracting tenants/users to the development through our <br /> • broker and user connections. Our construction team works in tandem with our <br /> leasing group to ensure that we deliver the highest quality product to our customer. <br />