HomeMy WebLinkAboutContracts & Agreements_79-2001_CCv0001.pdf E APPRAISAL REPORT F� FEASIBILITY STUDY
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❑ HIGHEST AND BEST USE STUDY F-1 FRACTIONAL INTEREST
of the following property: City of Redlands CFD No. 2001-1 (Northwest Area Development
Project) as described in our letter of May 23, 2001.
It will conform with and be subject to the requirements of the Code of Professional Ethics and Standards
of Professional Conduct of the Appraisal Institute and the Society of Real Estate Appraisers.
2. The Appraiser agrees to deliver three copies of the report to The Employer 20-25 working days
from the date that this Contract is signed by both parties.
3. Based upon The Appraiser's preliminary inspection of the property, it is agreed that the fee will be
$6,500.00 for the appraisal
4. The Employer agrees to pay The Appraiser the total fee as follows:
F� $3,250.00 upon the signing of this contract by The Employer.
Z The $3,250.00 balance of the fee due upon delivery of the report.
5. The Appraiser herein shall not be required to give testimony or to attend any public or private
hearing in court with reference to the property unless a Supplemental Employment Agreement has been
negotiated.
6. In the event The Appraiser is subpoenaed or otherwise required to give testimony or to attend any
public or private hearing as a result of having prepared this report, The Employer agrees to pay The
Appraiser $250.00 per hour with a four hour minimum for attendance or testimony required.
7. It is further agreed and understood that if any portion of the compensation or costs due to The
Appraiser becomes delinquent, The Employer will pay interest thereon at the rate of 10% per annum
on said account from the due date until paid, and further agrees to pay all costs of collection thereof,
including reasonable attorney's fees, court costs, etc.
8. In the event that The Employer desires to cancel this contract, written notice thereof shall be
delivered to The Appraiser, and it is agreed that The Appraiser shall receive compensation from The
Employer for all services rendered at the rate of$500.00 per day for the time actually spent prior to
receipt of written notice to stop work, plus all costs advanced in connection with said work prior to
receipt of such written notice.
Accepted by:
THE EMPLOYER THE APPRAISER
- 05/29/01
Mayor of Redlands for the City Date Thomas D. Heath, MAI Date
of Redlands June 5, 2001
ATTEST:
City Clerk
THE HEATH GROUP
11403 WEST BERNARDO COURT
SAN DIEGO, CA 92127
TEL. (858) 673-1177 9 FAX(858) 673-8631