2.6 Confidentiality
2.6.1
Company, municipal assessing officials or municipal employees shall not
disciose any preiiminary values to anyone or permit anyone to use or access
any data on file during the course of the revaluation project, except the
municipal assessing officials and the Commissioner of the DRA, or their
respective designees, until the values have been submitted to the municipal
assessing officials and made public.
2.7 Compensation and Terms
2.7.1
2.7.2
2.7.3
Cost:
2.7.4
2.7.5
2.7.6
Municipality, in consideration of the services hereunder to be performed by
Company, agrees to pay Company the sum total of Five Hundred Thousand
Dollars ($500,000.00) pursuant to the terms of the agreement as defined in
Section 3.
The above price includes five (5) days of defense of values. After the first five
(5) days, the Company shall be compensated for any work relating to the
defense of values either through the abatement process or appeals to BTLA
or Superior Court at the rate of One Hundred Dollars per hour
($100.00/Hour).
The itemized cost for the appraisal of special use or utility property if not
included in 2.7.1 is/are listed below:
Map/Lot Ownership/Name Appraised By
N/A N/A N/A
The Company will submit a monthly invoice based on the portion of work
completed during the preceding month, less thirty percent (20%) for
retainage. All invoices will be paid within thirty (30) days of receipt.
Retainage in the amount of One Hundred Thousand Dollars ($100,000.00),
20% of the contract, will be withheld from the Company. The retainage shall
be released as follows:
(1) Eighteen percent ($90,000.00) within 30 days after the final values are
posted; and,
(2) Two percent ($10,000.00) within 30 days after the DRA has completed
its review of the Statistical Revaluation and a compliant USPAP report is
filed and delivered to the City.
Except as provided in Sections 2.7.2 and 2.7.3, the stated consideration in
2.7.1 represents the total payment for all contracted services.
3. DETAIL OF SERVICES TO BE PERFORMED BY COMPANY
3.1 Collection of Sale Property Data
3.1.1
Company shail visit each Commercial and Industrial property that sold
8 City of Nashua, NH
Full Statistical Revaluation Contract
