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Rachel Juba <br />From: Richard K. Allendorf [rallendorf@northco.com] <br />Sent: Thursday, January 02, 2014 9:42 AM <br />To: Rachel Juba <br />Cc: Christopher Kubesh <br />Subject: Hugo Commercial Real Estate Assignment <br />Attachments: Hugo addendum 12-30-13..doc <br />Follow Up Flag: Follow up <br />Flag Status: Flagged <br />Rachel: <br />Thank you for visiting with Chris and me by phone to talk about your commercial real estate assignment <br />I have attached an addendum (i.e. replacement for article 2. previously included in our RFQ response to you) to the <br />Exclusive Listing Agreement which we believe will cover the EDA's concern that some firm may come directly to the City <br />rather than through our firm. We also have included an Exclusion Provision to cover the firms which you have previously <br />talked with. <br />Please share with the EDA members that, when we take an assignment, we create a flyer and immediately send it out to <br />all local brokers, as well as our data base of former and prospective developers in the Twin Cities area. Usually a <br />prospect will contact us off that flyer. However, sometime they go directly to the principal (the City in this case). Neither <br />you nor we will know if the contact is a direct result of our efforts or not. For this reason, our Listing agreement is set up to <br />reward our efforts upon a successful sale, regardless of how the first contact was made. <br />Thank you for your understanding. <br />Tick Allendorf <br />Senior Vice President <br />Northco Real Estate Services <br />5353 Wayzata Blvd., Suite 400 <br />St Louis Park, MN 55416 <br />(D) 952.820.1656 <br />