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Mr. Joel Hanson October 17, 2001 City of Little Canada. Page 3 e. common area amenities. f. appropriate services to provide. g. marketing considerations. [This section could also consist of a review the preconceived development con- cept, and in the context our research we will, if needed, suggest variations to the concept that will ensure a successful development.] 4. Project the pre - leasing rates and absorption period. E. Meetings and Report Preparation 1. One internal research review meeting. 2. One meeting with Client to review draft report. 3. Report Preparation. Cost of Staff Time for Full Feasibility Study: $7,800.00 *, COST OF SERVICES The above work program for the Preliminary Demand Assessment will be completed for Two Thousand Eight Hundred Dollars ($2,800.00), including the direct costs for out -of- pocket ex- penses. An initial payment in the amount of One Thousand Dollars ($1,000.00) will be required along with an executed copy of this agreement prior to the commencement of work. The cost to upgrade the Preliminary Assessment to a Full Market Feasibility Study will be Five Thousand ($5,000.00), including all out -of- pocket expenses. Any meeting requested by the Cli- ent beyond that outlined in the preceding Scope of Services will be billed in addition at our stan- dard hourly rates for staff time which range from $65.00 to $150.00 per hour. WORK PRODUCT The Preliminary Demand Estimate will be completed in Memorandum format. The Full Market Feasibility will be completed in a bound report format. The Market Feasibility study is accepted by many lenders, government agencies and others who require such information to satisfy their lending criteria. Five copies of the full Market Feasibility Study will be included in the above stated price. Additional copies will be available at our direct printing costs. PAGE 6