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Kosmont will review relevant documents related to the Project development plan and expected operations. These include 2017 original pro forma, draft deal points, Project description, site plan and architectural drawings. Task 3: Update Pro Forma Kosmont will review development program and prepare an updated pro forma to assess the feasibility of the Project. The analysis will include incorporating potential Opportunity Zone tax breaks. Kosmont will prepare a summary memorandum of our findings and recommendations and will be available to participate in as needed conference calls to discuss findings. Optional Task: 52201 Report In the event that the City receives agreement with Developer, Kosmont will be available to assist in the preparation of a Section 52201 report to describe the land sale transaction and the economic benefits. Per City's request, Kosmont will prepare a separate scope and budget for this specific task for review and approval. III. SCHEDULE AND COMPENSATION Consultant is prepared to commence work upon receipt of executed Agreement. Compensation for Tasks 1 through 3 is estimated at $10,000 for professional services (hourly) fees at Consultant's billing rates as shown on Attachment A. Optional Task will be budgeted following successful negtiations. Future increases in budget will require approval by Client in advance. Budget may be increased by Client at any time. Any publicly noticed meetings that Client requests Kosmont's attendance, will require Client approval in advance and will be billed at the professional services (hourly) fees as shown on the fee schedule in Attachment A. Services will be invoiced monthly at Consultant's standard billing rates, as shown on Attachment A. In addition to professional services (hourly) fees, invoices will include reimbursement for out-of-pocket expenses such as travel and mileage (provided that there shall be no overnight travel without the Client's prior approval and that mileage shall be reimbursed at the current IRS mileage reimbursement rate), professional printing, conference calls, and delivery charges for messenger and overnight packages at actual cost. Consultant will also include in each invoice an administrative services fee to cover in- house copy, fax, telephone and postage costs equal to four percent (4.0%) of Consultant's monthly professional service fees incurred. Any unpaid invoices after 30 days shall accrue interest at the rate of 10% per annum. 16501 Ventura Blvd. Suite 511 Encino California 91436 ph 818.981.8484 fx 818.981.8588 vmv.kosnnont.conn