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FLAVELL, TENNENBAUM & EDWARDS, INC.
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FLAVELL, TENNENBAUM & EDWARDS, INC.
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Last modified
9/4/2024 5:49:23 PM
Creation date
8/27/2024 12:46:02 PM
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Contracts
Company Name
FLAVELL, TENNENBAUM & EDWARDS, INC.
Contract #
A-1995-088
Agency
Community Development
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3. Valuation Data <br />To make such investigations, cost analyses, and property <br />inspections as are appropriate to enable APPRAISER to achieve <br />sound conclusions and to prepare the appraisal reports to be <br />furnished under this agreement. <br />4. Valuation Methods <br />To utilize appraised valuation method set forth in Article <br />I., E., 8., hereof. <br />5. Testimony in Judicial Proceedings <br />To testify as an expert witness on behalf of CITY in any <br />judicial proceedings involving any property appraised under this <br />agreement. Such services shall include such reasonable time as <br />may be required for reinspection of the property, updating <br />APPRAISERIS valuation, participation in pretrial conferences with <br />counsel for CITY, and testifying in the judicial proceedings. <br />The compensation for such testimony in judicial proceedings shall <br />be determined in accordance with Article III., hereof. <br />6. Modification of Delivered Appraisal Reports <br />To modify or furnish supplements to any appraisal report <br />furnished hereunder, without additional cost to CITY, if (a) <br />applicable principles of law with respect to the valuation of the <br />property existing as of the date of this agreement require the <br />modification or supplementing of such appraisal, (b) material <br />omissions, inaccuracies, or defects in the appraisal report are <br />discovered after delivery and acceptance of the report by CITY, <br />or (c) APPRAISER receives or becomes aware of relevant <br />information, in existence prior to the date when APPRAISER signed <br />the report. If there is a significant delay between the date of <br />valuation and the date of acquisition of any parcel or if the <br />property has been materially changed since the appraisal, or if a <br />revised determination of boundaries or the interest to be <br />acquired, has been made, or if other good cause appears, <br />APPRAISER shall, if requested by CITY, furnish CITY a <br />supplementary report updating his valuation and the supporting <br />data and analysis to a current date. The compensation for such <br />updating of an appraisal shall be determined in accordance with <br />Article III., hereof. <br />7. Retention of Appraisal Records <br />To retain a copy of each appraisal report and all notes and <br />records germane to the appraisal for five (5) years after <br />delivering the appraisal report to CITY or until the property is <br />acquired by CITY or its proposed acquisition of the property is <br />abandoned, whichever is latest. <br />-4 -- <br />
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