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AN <br />R. E. PITTS & ASSOCIATES, INC. <br />Real Estate Appraisers • Consultants <br />Mr. Dave Relos <br />Economic Resources <br />227 West Jefferson Blvd., Suite 1400 <br />South Bend, IN 46601 <br />May 29, 2013 <br />Re Real Estate Appraisal: Former Collegiate Football Hall of Fame museum facility, 1 I 1 S. St. <br />Joseph Street, South Bend, IN <br />Dear Mr. Relos: <br />I previously completed a real estate appraisal of the former Collegiate Football Hall of Fame <br />building, 111 S. St. Joseph Street, South Bend, IN, effective December 28, 2010 and reported on <br />January 18, 2011. Per your request, I hereby propose additional services related to said appraisal, <br />including Property Tax Assessment Board of Tax Appeals hearing appearances, related review, and <br />preparations for such appearances including driving time to be invoiced at a rate of $175.00 per <br />hour. <br />I have no present or prospective interest in or bias with respect to the property that is the subject of <br />the assignment, and have no personal interest or bias with respect to the parties involved with this <br />assignment. <br />I have provided prior services to the South Bend Department of Economic Development as an <br />appraiser regarding the subject property within 3 years immediately preceding acceptance of this <br />proposed assignment as noted. Specifically, Real Estate Appraisal, effective valuation date <br />December 28, 2010, Summary Appraisal Report dated January 18, 2011. <br />Sincerely, <br />R.E. PITTS & ASSOCIATES, INC. <br />G'U V ` if- <br />Rick Pitts, MAI <br />Indiana Certified General Appraiser, License #CG69100722 <br />Engagement Letter Accepted: <br />Signature Date <br />Rick Pitts, MAI <br />50580 Woodbury Way • Granger, IN 46530 <br />�� Pit574 - 272 -3224 <br />ma tsMAI@aol.com <br />