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.~ <br />r <br />and submission requirements. An informational meeting where the Committee will <br />discuss the history of the Project and be available to answer questions will be held prior <br />to the submission due date. <br />3. The Committee may request that the Developer clarify, supplement, modify <br />or provide additional information regarding various aspects of the Development Proposal <br />and make a presentation, if requested. <br />4. The Committee may accept a Development Proposal and, after a Memo of <br />Understanding is approved by•Tri-Met, will enter into negotiations for a Disposition and <br />Development Agreement (DDA) in the manner hereinafter specified. In the event the <br />Proposal is rejected by the Committee or Tri-Met, the Developer will be notified in <br />writing. <br />5. A Development Proposal may be rejected at the discretion of the <br />Committee and the Committee retains the right to waive any irregularities in the <br />proposal procedures or modify any terms of the submission requirements. <br />6. Members of the Committee, employees of Tri-Met or the City of Portland <br />who exercise responsibility concerning the Project at Howard's Way, and individuals or <br />firms retained by the Committee in providing consulting services in connection with the <br />Project may not submit Development Proposals unless the individual or firm submitting <br />such Development Proposal declares a potential conflict of interest and withdraws from <br />any further participation on behalf of the Committee concerning the disposition of such <br />Parcel and provided further that, prior to receiving any such proposal, a notice of the <br />intent of such individual or firm to submit a proposal is published, an opportunity to be <br />heard by the Committee is given to any person objecting to such submission and the <br />Committee determines that it is in the best interests of the Committee that such <br />proposal be received. Individuals or firms acting as consultants to the Committee in <br />connection with the Project may act as consultants to a Developers provided such <br />persons declare a potential conflict of interest and withdraw from any further <br />participation on behalf of the Committee as to the Development Proposal of such <br />Developers. <br />THE NEGOTlATION PROCESS <br />1. Followinq acceptance of a Memo of Understanding, the Developer and the <br />Committee shall negotiate the terms of a DDA for within a period of 60 days, unless <br />extended by mutual agreement of the parties. If the Developer negotiates in good faith, <br />but fails to reach an agreement with the Committee or Tri-Met, then the Good Faith <br />Deposit will be refunded. If the Developer and Tri-Met enter into a DDA, the Good Faith <br />Deposit will be credited towards the amount of the Security Deposit under the DDA for <br />ensuring completion of performance of the obligations under the terms of the DDA. If <br />the Developer and the Committee fail to reach agreement on a DDA and the Committee <br />.-lppendices Pnge : 0 <br />