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Page: 4 <br />Elk River Main and Gates TIF Analysis – April 2, 2020 <br /> <br /> <br /> <br /> <br />ASSUMPTIONS <br />1. LHB will inspect two buildings on two parcels and incorporate the findings into the <br />previous Main and Gates TIF report. We will inspect both the interior and exterior of <br />the buildings and evaluate the coverage of the parcel(s). The Client will provide the <br />following: <br />• A scalable parcel map and/or aerial photo of the area to be inspected, including GIS <br />information with specific parcel data, including parcel area measured in square feet. <br />• A list of all parcels affected including name of owner, current known business or <br />resident name and address. <br />• Available information regarding the condition of the structures, including past <br />building permit information, and known code violations. <br /> <br />STANDARD OF CARE <br />LHB shall perform services consistent with the professional skill and care ordinarily provided by <br />other professionals practicing in the same or similar locality under the same or similar <br />circumstances. <br /> <br />Any report prepared by LHB represents a professional opinion based upon information available <br />and arrived at in accordance with generally accepted professional standards. Other than as <br />contained in the report, LHB makes no express or implied warranty. <br /> <br />Short of complete deconstruction to examine every element at every location, no assessment can <br />reveal all conditions which may exist. Additional testing, assessment, or demolition, may uncover <br />conditions which would make it necessary to modify LHB’s conclusions or recommendations. <br /> <br />Any report prepared for the purpose described in this Agreement is for the exclusive use by those <br />to whom the report is addressed. LHB will not and cannot be held liable for the unauthorized <br />reliance upon this report by any third party. <br /> <br />COMPENSATION <br />We propose to work on an hourly basis with the following key staff: <br /> <br />Project Principal, Michael Fischer (TIF analysis) $285/hour <br />Project Manager $165/hour <br />Project Architect/Inspector $145/hour <br />Project Administrator $85/hour <br /> <br />We will work on an hourly basis not to exceed Five Thousand Six Hundred dollars ($5,600) <br />including reimbursable expenses for the inspection of the properties, including a full report <br />outlining the findings for the proposed TIF District. <br /> <br />Payments are due and payable upon receipt of our invoice. Unpaid balances 60-days after invoice <br />date shall bear interest at the rate of 8% annually. <br /> <br />Failure to make timely payment to LHB is a material breach of this Agreement and may, at LHB’s <br />sole discretion, result in a suspension or termination of services, and may, at LHB’s sole discretion, <br />result in the termination of the Client’s limited license authorization to use LHB’s copyrighted <br />Instruments of Service.