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Mr. David Childs <br />2 June 1982 <br />Page Three <br />Northwest will also minimize the appraiser's work by collecting all <br />project property information and measurements necessary for the value <br />analysis. All of Northwest's contributions to the appraisal work were <br />contained in the fees presented. The specific costs of appraisals were <br />not provided due, again, to the uncertainty of the extent and number <br />of parcels and buildings included in this first phase of effort. <br />(2) (d) Who will be responsible for handling preparation of contracts? <br />Is the cost included in the fees as presented? <br />Response: <br />Based upon past experience and examples from current or recently <br />completed projects, Northwest will assume responsibility for the <br />preparation of development contracts. As Northwest and specifically <br />Daniel Wilson, will be involved in property as well as developer <br />negotiation, minimal confusion and expense will result if we under- <br />take the initial preparation of contract documents. The Dorsey firm <br />or other legal counsel selected by the HRA would then be expected <br />to finalize the agreements. <br />Northwest's time and expenses for this task have been included in the <br />budget presented as part of our 4 May 1982 proposal. <br />(2) (e) Who will be responsible for handling matters connected with <br />the bond sale? Is the cost included in the fees as presented? <br />Response: <br />An HRA selected underwriter will be responsible for the sale of bonds. <br />Cost for this service has not been included in the fees proposed by <br />Northwest. Note should be made, however, that if the bond sale is <br />$300,000 or less it is considered a negotiated issue and the costs of <br />the sale are passed along and made part of the sale. <br />To minimize potential costs, Northwest would prepare and supply the <br />underwriter with all necessary background information. Northwest's <br />services in this regard are covered in the budget and fees which <br />have been submitted. <br />(2) (f) Who will be responsible for handling legal work? Is the cost <br />included in the fees as presented? <br />Response: <br />Northwest's proposal assumes that the City's/HRA's present legal counsel, <br />the Dorsey organization, will be responsible for the limited legal work <br />which is envisioned as part of the project. Northwest has previously <br />