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HomeMy WebLinkAboutContracts & Agreements_3-2002CONTRACT FOR SERVICES This contract is binding upon The Heath Group, hereinafter referred to as The Appraiser and May of Redlands for the City of Redlands, 35 Cajon Street, Suite 30, Redlands, CA 92373 hereinafter referred to as The Employer. The Appraiser agrees to provide 3 original reports of the following property: City of Redlands CFD No. 2001-1 (Northwest Area Development Project) City of Redlands, CA as described in our letter of November 8, 2001, plus the inclusion of the partially completed medical supply building property. E APPRAISAL REPORT ❑ FEASIBILITY STUDY F] HIGHEST AND BEST USE STUDY ❑ FRACTIONAL INTEREST 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. Additionally, we will need 7 to 10 working days to complete this report once we receive items requested from Spring Pacific Properties, 3. Based upon The Appraiser's preliminary inspection of the property, it is agreed that the fee will be $5,000.00 4. The Employer agrees to pay The Appraiser the total fee as follows: 0 $2,500.00upon the signing of this contract by The Employer, in order to begin the appraisal 0 $2,500.00 The 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 Karl N. • Haws ------- T77tTrz Mayor of Redlands Date THE APPRAISER Thomas D. Heath, MAI Revised City of Redlands 12/18/01 Attest: January 2, 2002 Date Lorri Poyzer, ler THE HEATH GROUP