2011-280 AMS - Chapel Hill Appraisals & Consultants for Efland Buckhorn Sanitary Sewer Appraisals

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The following is a summary of the assignment activities involved,but are not limited to: • Each property will be inspected,to observe,note and photograph site features and the improvements thereon(if any)including exterior building measurements as necessary. • Public Records will be researched to compile and confirm information necessary to properly identify and describe each property,its ownership,history,tax status and the affect from any relevant recorded documents. • Zoning Regulations will be researched to confirm legal uses of each property's neighborhood,its competitive market,trends and factors related to each properties highest and best use, • Market Sales Data will be researched and analyzed of similar(or as similar as possible or available)for closed sales of comparable properties,both within the defined neighborhood(if any)and within the expanded market area as needed to develop credible reports. It is hereby understood and agreed by all parties that in completing this appraisal assignment that collaboration with certain other appraisal peers is anticipated,understood and agreed as a component of completing this assignment. It is hereby agreed that Orange County will be invoiced simultaneously upon delivery of the Appraisals which shall be delivered on or before 5 PM, Friday, September YVO11. Any additional time incurred by our requested or required attendance to any Orange County meetings/he ngs and/or court proceedings related to this assignment will be invoiced separately as described below. 77 The fee for providing Appraisals on these additional properties is $5,750.00. Terms are net at billing, 1.5% per month late fee thereafter. Full written reports will be billed separately, as needed, at an administrative fee of 20% each. It must be noted that this fee does not include any court testimony or expert witness testimony for deposition. That will incur an additional fee at a rate of $150.00 per hour, which includes any preparation time, travel time, deposition time, court preparation, any governmental related appearances, and waiting time related to any of the above. If for any reason an opposing side subpoenas us for any testimony/depositions, etc, Orange County will be ultimately responsibility for payment to us as a witness, regardless if as an expert witness or a fact witness at the above billing rate. Intended Use and Users (as generally defined in the Uniform Standards of Professional Appraisal Practice — USPAP)are as follows: Intended Use is to provide Orange County with Appraisals on each property describing the Market Value(Before the Takinel and the Market Value(After the TakinQl by Orange County for the properties identified in Attachment A and as generally referenced as the Central Efland& North Buckhorn Sewer Extension projects while observing G.S. Chapter 40A. The Intended User shall be exclusively limited to Orange County, its employees, third party consultants and staff for the purpose of negotiating appropriate easements (including potential value loss, if any) for the eventual construction of a public sewer line per the provided drawings. The Intended User does not include any member of the General Public or other third party or entity. It is mutually understood that the developed opinions of value (as described herein) might be obtained through a Public Records request and that if such a request is made of Orange County, its employees, staff or third party consultants then the requesting party shall be fully identified to Chapel Hill Appraisals as quickly as is practical, including name and complete contact information. I have not performed any services regarding these properties (other than providing a general opinion of the value ranges of properties in the general vicinity of these sewer extension projects)within the immediate prior three years of this assignment,as an appraiser or in any other capacity. Delivery of the Appraisals will be as a PDF by e-mail to klindley(a?co.orange.nc.us as agreed. It is hereby understood and agreed that Frank Clifton, as County Manager (or his designee) is the representative responsible to the execution of this Amendment on behalf of Orange County, and the signature below is acknowledgement and acceptance of the all the terms and conditions described herein.