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From: Franklin D. Kimbrough [mailto:kim@downtownpensacola.com] Sent: Thursday, April 05, 2012 5:34 PM To: 'hbell@johnscarr.

com' Subject: Proposed Term Sheet

HarryAttached is the proposed term sheet we discussed. Please know that it represents the thinking of the board at the present time and should be considered as the starting point for further discussion and negotiation. The DIB wants to find a mutually acceptable formula for achieving the goals of your client while preserving the economic viability of the parking fund and future public parking needs. Burney and I are available to meet anytime on Monday afternoon, April 9th between 2:00 p.m. and 5:00 p.m. as we discussed previously. Please let me know the time that works best for you and your client. We are prepared to come to your offices unless you tell us otherwise. Please let me know the time that works best. Many thanks. Kim Franklin D. Kimbrough Executive Director Pensacola Downtown Improvement Board 41 N. Jefferson Street - Suite 401 Pensacola, Florida 32502 850-434-5371 www.downtownpensacola.com

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