HomeMy WebLinkAboutContracts & Agreements_46-2001_CCv0001.pdf MACK & ASSOCIATES, INC.
REAL ESTATE VALUATION
17671 Irvine,Boulevard
Suite 106
Tolephone (714)731-3993 Tustin, California 92780-3128 Telephone
(7 14)731-3179
January 17, 2001
Mr. Lonny Young
City of Redlands
Municipal Utilities Department
P.O. Box 3005
Redlands, CA 92373
AUTHORIZATION FOR APPRAISAL SERVICES
In consideration of this agreement between MACK & ASSOCIATES INC., Real Estate
Appraisers ("Appraiser,") and CITY OF REDLANDS ("Client,") said parties do agree as follows:
Appraiser will make an appraisal of the fair market value of Client's real property located on
the north side of Mill Creek Road (Highway 38) approximately 1/2 mile westerly of Bryant
Street in the City of Redlands. Said property is also identified as San Bernardino County
Assessor's Parcel Nos. 0168-362-01 & 02 and 0168-363-01 & 02.
A portion of said property is proposed to be acquired by the State of California Department
of Transportation for the realignment of Mill Creek Road.
The purpose of the appraisal is to make an estimate of the fair market value of the subject
property, that portion of said property proposed to be acquired by Caltrans and severance
damages and/or benefits, if any, to the remainder. The appraisal assignment will include an
investigation and critique of the sales data utilized in the Caltrans appraisal.
At the direction of your attorney, the appraisal will be presented in one of three formats:
Statement of Valuation Data; narrative report; testimony notebook.
In return for the services, Client agrees to compensate Appraiser as follows:
For preparation of the appraisal - An amount not to exceed $15,000 based on the hourly
rates set forth below.
Mr. Lonny Young January 17, 2001
City of Redlands Page Two
Client will reimburse Appraiser for necessary out-of-pocket expenses incurred for materials
such as maps, blueprints, photographs, deed copies and related materials and exhibits.
Mileage is to be reimbursed at the rate of 300 per mile. Appraiser agrees to request
authorization before incurring any unusual item of expense.
In the event that testimony in deposition or court appearance is required, Appraiser will be
compensated at the rate of $250 per hour (portal to portal). Upon completion of the appraisal,
Appraiser will be compensated for additional investigation, analysis, conferences and trial
preparation at the hourly rates set forth below (portal to portal).
The foregoing fees include 5 hours of conference time but do not include fees for necessary
engineering or other consulting services. Client agrees to provide Appraiser with such services
as may be required. Any conference time beyond the initial 5 hours shall be billed separately
on an hourly basis (portal to portal).
Payment for the services and costs will be as follows:
A retainer of $5,000.00 upon signing the agreement.
The balance will be due and payable upon submission of the appraisal. (i.e., Statement of
Valuation Data, narrative report, or testimony notebook)
If the appraisal assignment is terminated before the appraisal is submitted,then Appraiser will
be paid on an hourly basis (portal to portal) for work performed or $15,000.00,
whichever is less. Hourly rates charged by Appraiser are as follows:
L. Mack, Appraiser $200/hour
D. Riebe, Appraiser $1 25/hour
S. Chastain, Research Analyst $75/hour
R. Tristan, Research Associate $50/hour
If the work proposed has not been completed in 12 months from the date of this proposal for
reasons beyond the control of the appraiser, then any unpaid portion of time-based fees shall
be billed at the then current rate, provided that notification of rate changes has been made
at least 30 days prior to the billing.
The fees and costs referred to herein shall be payable within 30 days after receipt of billing.
If the fees and costs are not paid when due, they shall draw interest at the rate of 10% per
annum. In the event it becomes necessary to file suit to collect Appraiser's fees and costs,
Client agrees to pay reasonable attorneys fees and costs incurred in the collection of such
fees and costs and further agrees that jurisdiction and venue shall be vested in Orange
County, California.
MACK & ASSOCIATES INC.
RE.c\L ESTAIEVALUAMON
Mr. Lonny Young January 17, 2001
City of Redlands Page Three
Appraiser reserves the right to withdraw from this matter if any invoice is unpaid after 30
days. Appraiser further reserves the right to decline to testify in deposition or at trial if there
are any unpaid invoices.
It is further understood that neither the agreement to make the appraisal nor the compensation
for the appraisal is contingent upon the value conclusion of the Appraiser.
The appraisal assignment will commence upon receipt of the following:
Signed contract and retainer check
Title policy
This proposal is valid for a period of 90 days.
,q P '75
APPRAISAL AUTHORIZED: 0"C
CITY OF REDLANDS
March 23, 2001
Pat Gilbreath, Maye'r Date
ATTEST:
-T-�rloYM� -1erK
MACK & ASSO-C-I'ATES' IN
Larry E. Mack Date
Certified General Real Estate Appraiser
State of California License #AG009052
MACK & ASSOCIATES INC.
REAL ESTATE VALUNMN