5. APPLICABLE REQUIREMENTS
In addition to any other applicable requirements, the appraisal must conform to the most recent
editions of the “Uniform Standards of Professional Appraisal Practice”, USPAP.
6. APPRAISAL REPORT
The appraisal can be either a “Self- Contained” or “Summary” narrative report. “Restricted”
reports are not acceptable.
7. CONTRACT TERM.
The term of this Contract will commence as of the date of this contract and continue until such
time as Appraiser's services in the Matter are no longer required.
8. SCOPE OF SERVICES.
The Appraiser agrees to perform the following scope of services under this Contract:
a. The Appraiser will review pertinent public documents relative to the Property as well
as materials, photographs, exhibits, and other relevant documents associated with the
Matter.
b. The Appraiser will make a personal on-site inspection of the Property.
c. The Appraiser will develop professional opinions regarding the fair market value of the
Property as of April 1, 2015. The Appraiser will share his preliminary opinions with the
City verbally or in summary fashion (e.g. an email) within a time line to be determined
by mutual agreement of the Parties, with the understanding that the Matter will have hard
deadlines imposed by the court.
d. The Appraiser will develop a written report regarding his expert opinions, if the City
requests such a report. The delivery date for the written reports will be communicated by
the City when it requests the same, time being of the essence. Appraiser will provide 3
hard copies and one electronic copy of any written report.
e. The Appraiser will provide expert support for settlement discussions and mediations
and offer expert testimony in the Matter, if needed by the City. The Parties understand
and agree that the Appraiser may be required to offer both deposition and trial testimony
in the Matter.
9. PAYMENTS FOR SERVICES
The Parties understand and agree that the fee for the services described above in 8 a — e will be
as described in Exhibit A attached hereto and made a part hereof. The maximum amount to be
paid by the City to the Appraiser for services provided under this Contract shall not exceed forty
