Specifications include, but are not limited to: (Delinquent Tax Receivables), including penalties and interest accruing through the collection date but excluding specific fees, pursuant to the provisions of T.C.A. 67-5-2012 (Exhibit A) and in accordance with the terms of this Request for Proposals (RFP). Award of a Contract for the sale of Delinquent Tax Receivables shall be made utilizing a two-step RFP process. Step One (1) of the RFP process requests submittal of un-priced responses to Metro's Request for Qualifications. It is Metro's intent to qualify all Proposers which are determined to be qualified purchasers of delinquent tax receivables, based on the evaluation criteria listed in this Request for Qualifications. These Proposers shall be invited to participate in Step Two (2) of the RFP process (Request for Pricing). Metro does not guarantee a minimum or maximum number of qualified Proposers. Step Two of the RFP process requests pricing from all qualified Proposers for the sale of Metro's Delinquent Tax Receivables. Award of the Contract shall be made to the Proposer determined to be most advantageous to Metro based on Metro's analysis of submitted pricing and other factors. In order to participate in Step Two of the RFP process, a Proposer must have submitted and been approved through Step One Request for Qualifications. The term of the Contract awarded via this RFP shall be for a period of two years, with option to extend for three (3) additional terms of one (1) year each. This term is applicable to the current portfolio only. To the extent Metro chooses to sell accounts in future years, there will be a separate bid process and contract. The Contractor will be entitled to all redemptions of accounts sold under this Contract during the Contract term as well as redemptions subsequent to the Contract ending date. While we do not anticipate an event that would cause Metro to cancel the contract, the Contractor would be compensated for the value of the uncollected receivables included in the contract. Should Metro choose to sell delinquent real property tax receivables in future years that fall within the term of this contract, a new Request for Proposal process will be initiated. The Contractor may choose to participate in the bidding process for those delinquent taxes. A new Contract will be issued to the successful bidder.