10-15-07 Special Mtg Item 4A TCAAP Housing Study

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Ms. Michelle Wolfe City of Arden Hills August 20, 2007 Page 12 The conclusions in the report are based on our best judgments as market research consultants. Maxfield Research Inc. disclaims any express or implied warranty of assurance or representation that the projections or conclusions will be realized as stated. The result of the proposed project may be achieved, but also may vary due to changing market conditions characteristic of the real estate industry, changes in facts that were the basis of conclusions in this report, or other unfore- seen circumstances. In the event payment is not received on a timely basis, Maxfield Research Inc. shall be entitled to a lien against the subject property. This agreement will be construed according to the laws of the State of Minnesota. TERMINATION This agreement may be terminated upon written notification of either party to the other. In the event of termination, the Client will pay Maxfield Research Inc. for staff hours performed at the firm's normal hourly rates, plus all expenses incurred through the date of termination. If this proposal meets with your approval, please sign and return one copy to the offices of Max- field Research Inc. The price terms of this agreement shall remain in effect for a period of 90 days from the date shown at the top of this document. Agreed to this day of 2007. MAXFIELD RESEARCH INe. CITY OF ARDEN HILLS V1f~ t0ffl Mary C. Bujold By: President Its: I authorize: (please initial selections) Residential Component ($17,945) Commercial Component ($15,000) Note: Ifboth are completed simultaneously, a cost savings of $3,000.00 would result to the total. MAXFIELD RESEARCH INC.