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HomeMy Public PortalAboutCallaway & Price, Inc.woo Callaway & Price, Inc. Real Estate Appraisers And Consultants Licensed Real Estate Brokers Please respond to West Palm Beach office WEST PALM BEACH E -Mail: cpi@cpwpb.com 1639 Forum Place Suite 5 West Palm Beach, FL 33401 Phone (561)686-0333 Fax (561)686-3705 Michael R. Slade, MAI, SRA, CRE May 8, 2007 St. Cert. Gen. REA RZ116 Daniel A Hrabko, MAI St.Cert.Gen.REA RZ48 Mr. Bill Thrasher Stephen D. Shaw, MAI Town of Gulf Stream St. Cert. Gen. REA RZ1192 100 Sea Road Gulf Stream, FL 33483 FORT PIERCE/STUART 500 South U.S. Highway Suite 107 Via Fax: 561-737-0188 Fort Pierce, FL 34950 Dear Mr. Thrasher: Phone (772)464-8607 Fax (772)461-0809 Stuart We would be pleased to prepare a Summary Appraisal Report on Phone (772)287-3330 the proposed easements located north of Avenue Au Soleil in Gulf Fax (772)461-0809 Stream, Florida. It is our understanding that the purpose of the Harry D. Gray, MAI, SRA appraisal is to estimate the Market Value of the part taken, as well St. Cert. Gen. REARZ662 as damages to the remainder property, if any. Stephen G. Neill, Jr., MAI St.Cert.Gen.REA RZ2480 This report will be prepared for our client, Town of Gulf Stream. The intended use is to assist the client in negotiating purposes and MELBOURNE/INDIALANTIC potential trial testimony. The scope of work performed is specific 114 6th Avenue, Suite 3 to the needs of the intended user and the intended use. No other Indialantic, FL 32903 use is intended, and the scope of work may not be appropriate for Phone (321)726-0970 other uses. Fax (321)726-0384 Curtis L. Phillips, MAI St.Cert.Gen.REA RZ2085 The fee would be $3,500. The fee is due and payable upon delivery of the report. We will provide 3 originals of the final BOCA RATON report. If you require a PDF format, that must be requested at PMB #87 time of engagement or there will be an extra charge. 4400 N. Federal Highway Suite 210 Boca Raton, FL 33431 We need you to supply person to contact and phone number, and Phone (561)998-8088 any other information you deem appropriate. Fax (561)686-3705 Daniel A Hrabko, MAr St.Cert.Gen.REA RZ48 We will have the report completed in approximate) 3-4 weeks y from the da we receive y your authorization and information FOUNDERS requested; be aware that delays in our receipt of toe R. Price, MAI, SRA information requested could postpone completion. St. Cert. Gen. REA RZ555 Robert J. Callaway, MAI, SRA St.Cert.Gen.REA RZ505 Mr. Bill Thrasher Town of Gulf Stream May 8, 2007 Page Two If the above is agreeable to you, please sign below as our authorization and return it together with the information requested and we will begin work immediately. This agreement is subject to the Agreements and Conditions listed on the attached pages, a copy of which should also be signed and returned to us. Our work will be done in accordance with the Appraisal Institute Code of Ethics and Standards of Professional Practice. Thank you for the opportunity to be of service. Respectfully submitted, CALLAWAY & PRICE, INC. Daniel P. Hrabko, MAI St.Cert.Gen.REA RZ48 DPH/dlm Attachments Client: Accepted By\Date: Date Name and Title (Printed or Typed) TownofGulf Stream Signature 5-10-07 William F. Koch, Jr., Mayor Client Fed ID# or SS#: 59-6002370 CP Conditions of CONDITIONS OF AGREEMENT 1. Premise: The completed report shall comply with the professional and ethical standards of the Appraisal Institute. The report will be addressed to the Client, or, as directed by the Client. Z. Compensation: The fee is due and payable as designated in the contract letter; the retainer is to be sent to the Appraiser along with the signed contract letter, which constitutes authorization to commence the assignment. The Appraiser's/Consultant's compensation is in no event contingent upon a predetermined value or conclusion. 3. Completion Date: Every effort will be made to deliver the report as per the specified date in the contract letter. If delays occur for reasons beyond the control of the Appraiser/Consultant, such as not receiving necessary data requested from the Client in a timely manner, changes in the scope of services of the assignment, acts of God, et cetera, the due date shall be extended. 4. Changes: The Appraiser/Consultant shall, to the best of his ability, complete the assignment in compliance with professional and ethical standards of the appraisal industry. Changes which are not in keeping with these standards will necessitate a new contract letter and renegotiation of the original fee; or billed on a time basis plus the original fee. 5. Cancellation: This agreement may be cancelled by the Client by written notice, or telephone followed by written notice. Appraiser/Consultant shall submit a statement based on professional time and expenses accrued, if applicable, for all services expended to the date of cancellation. 6. Additional Report Copies: Additional copies will be furnished upon request, and prepayment of $1 per page per report. 7. Collection: All fees and expenses are due upon delivery of the final report. A late charge of 1.5% per month shall be imposed on balances unpaid 30 days after the statement date. If collection efforts become necessary, all costs for same, including court costs and attorney's fees will be added to the balance due. We are currently operating under an agreement with a collection agency which charges us 53.8%. IF THEIR COLLECTION SERVICES ARE REQUIRED, CLIENT'S TOTAL BALANCE DUE WILL BE INCREASED BY 53.8%. B. Limiting Conditions: This agreement and the completed report shall be subject to the attached Limiting Conditions (also included in said report). rP Conditions of Agreement Confidential Data: Data assembled for the assignment will remain the property of the Appraiser/Consultant. Data provided by the Client will be held in file, unless otherwise instructed by the Client, and considered confidential. Appraiser/Consultant is authorized by the Client to disclose the report to appropriate representative of the Appraisal Institute to comply with the Bylaws and regulations of this professional organization. I hereby agree to the Conditions of Agreement outlined above. TOWN OF GULF STREAM William F. Koch, Jr. Mayor 5-10-07 Client's Name Date of Acceptance ra LIMITING CONDITIONS Conditions 1. Unless otherwise stated, the value appearing in this appraisal represents the opinion of the Market Value or the Value Defined AS OF THE DATE SPECIFIED. Market Value of real estate is affected by national and local economic conditions and consequently will vary with future changes in such conditions. 2. The value estimated in this appraisal report is gross, without consideration given to any encumbrance, restriction or question of title, unless specifically defined. 3. This appraisal report covers only the property described and any values or rates utilized are not to be construed as applicable to any other property, however similar the properties might be. 4. It is assumed that the title to the premises is good; that the legal description is correct; that the improvements are entirely and correctly located on the property described and that there are no encroachments on this property, but no investigation or survey has been made. 5. This appraisal expresses our opinion, and employment to make this appraisal was in no way contingent upon the reporting of predetermined value or conclusion. 6. No responsibility is assumed for matters legal in nature, nor is any opinion of title rendered. In the performance of our investigation and analysis leading to the conclusions reached herein, the statements of others were relied on. No liability is assumed for the correctness of these statements; and, in any event, the appraiser's total liability for this report is limited to the actual fee charged. 7. Neither all nor any part of the contents of this report (especially any conclusions, the identity of the appraiser or the firm with which he is connected, or any reference to the Appraisal Institute or any of its designations) shall be disseminated to the public through advertising media, public relations media, news media, sales media or any other public means of communication without our prior written consent and approval. B. It is assumed that there are no hidden or unapparent conditions of the property, subsoil, or structures which would render it more or less valuable. The appraiser assumes no responsibility for such conditions or the engineering which might be required to discover these factors. r? Conditions 9. Unless otherwise stated in this report, the existence of hazardous substances, including without limitation stachybotrys chartarum (mold), asbestos, polychlorinated biphenyls, petroleum leakage, or agricultural chemicals, which may or may not be present on the property, or other environmental conditions, were not called to the attention of, nor did the appraiser become aware of such during the appraiser's inspection. The appraiser has no knowledge of the existence of such materials on or in the property unless otherwise stated. The appraiser, however, is not qualified to test for such substances or conditions. If the presence of such substances, such as asbestos, urea formaldehyde foam insulation, or other hazardous substances or environmental conditions, may affect the value of the property, the value estimated is predicated on the assumption that there is no such proximity thereto that would cause a loss in value. We are unaware of very wet conditions that may have existed for days or weeks which are required to grow mold. No responsibility is assumed for any such conditions, nor for any expertise or engineering knowledge required to discover them. 10. The Americans with Disabilities Act ("ADA") became effective January 26, 1992. The appraiser has not made a specific compliance survey and analysis of this property to determine whether or not it is in conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of the property, together with a detailed analysis of the requirements of the ADA, could reveal that the property is not in compliance with one or more of the requirements of the Act. If so, this fact could have a negative effect upon the value of the property. Since the appraiser has no direct evidence relating to this issue, possible noncompliance with the requirements of ADA in estimating the value of the property has not been considered. 11. Our opinion of value was based on the assumption of competent marketing and management regarding the Subject Property. If there is no competent marketing and management, then the value contained herein may not apply. COMMISSIONERS WILLIAM F. KOCH, JR. Mayor JOAN K. ORTHWEIN, Vice Mayor FRED B. DEVITT III CHRIS 0. WHEELER MURIEL J. ANDERSON May 10, 2007 Daniel P. Hrabko, Callaway & Price, 1639 Forum Place Suite 5 West Palm Beach, Dear Mr. Hrabko: TOWN OF GULF STREAM PALM BEACH COUNTY, FLORIDA MAI Inc. FL 33401 Telephone (561) 276-5116 Fax (561) 737-0186 Town Manager WILLIAM H. THRASHER Town Clerk RITA LTAYLOR Please find enclosed an executed copy of the Agreement for preparation of a Summary Appraisal Report. Please contact Mr. William H. Thrasher at 561-276-5116 with regard to anything related to this assignment. Mr. Thrasher is the Gulf Stream Town Manager. Very truly yours, Rita L. Taylor Town Clerk 100 SEA ROAD, GULF STREAM, FLORIDA 33483