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CHAPEL HILL APPRAISALS&CONSULTANTS <br /> PO Box 33037 <br /> Raleigh,NC 27636 <br /> (919)932-9908 <br /> (919)308-7000 <br /> October 4,2011 <br /> Mr.Kevin Lindley,PE <br /> Staff Engineer <br /> Orange County Planning&Inspections Department <br /> 131 West Margaret Lane,Suite 201 <br /> Hillsborough,NC 27278 <br /> klindley@co.orange.iie.us <br /> (919)245-2583 <br /> Re: 2nd AMENDMENT TO THE"SERVICE AGREEMENT" WHOSE EFFECTIVE DATE WAS JULY 26, <br /> 2011, AND THE SUBSEQUENT "LETTER OF ENGAGEMENT" BETWEEN CHAPEL HILL <br /> APPRAISALS AND CONSULTANTS (PROVIDER), AND ORANGE COUNTY (A BODY POLITIC <br /> AND CORPORATE OF THE STATE OF NORTH CAROLINA). <br /> Dear Mr.Lindley, <br /> Per paragraph nine (9)of the referenced Service Agreement, the following is the 2nd Amendment to that Service <br /> Agreement and Engagement Letter, and herein are the understood and agreed changes in the Basic Service, <br /> entitlement of additional compensation,and a change in the duration of the Agreement as described herein. <br /> Chapel Hill Appraisals& Consultants shall provide an appraisal of the opinion of the Market Value(Before the <br /> Talon and the Market Value(After the Takine)by Orange County for the six(6)additional properties identified <br /> in attached Exhibit of this Amendment,and as generally referenced as the Central Efland&North Buckhorn Sewer <br /> Extension projects(dated 08/10/2011).NC G.S.Chapter 40A(Eminent Domain)will be followed when developing <br /> opinions of value.Our opinion of the"Diminution-in-Value"(if any)shall be as described in GS Chapter 40A-64. <br /> "Before Value"will be based on the existing use of each property.The appraiser will consider the Highest and Best <br /> Use of each property before the taking in order to develop an opinion of market value. <br /> "After Value"or Remainder Market Value will be based on the Highest and Best Use of each property after the <br /> taking.The opinion of market value for the Remainder will consider the impact of the taking,to each property. <br /> Scope of the appraisal report is to set forth the opinion of the Market Value Before the taking and the Market <br /> Value After the taking by Orange County for the above referenced properties. The process will involve the <br /> collecting and analyzing of pertinent data, considering market trends, developing an opinion of each of the <br /> properties before and after Market Value and reporting the findings in a written report. At inspection the <br /> characteristics and features of each property will be noted. In addition, research and analysis of information <br /> regarding each properties neighborhood,competitive market,and historical data will be completed. <br />