Agenda - 10-06-1986 - Laserfiche WebLink

Browse Search

same property, the APPRAISER may make his inspection with such other appraiser, but must otherwise prepare his appraisal report independently. 3. Valuation Data. Make such investigations, studies, and property inspections as are appropriate to enable the APPRAISER to derive sound conclusions and to prepare the appraisal reports to be furnished under this agreement. The APPRAISER shall ascertain the most recent sale of each property appraised and any other sales of such property during the last five years or in accordance preced- ing the appraisal and shall investigate any recent offer or offers of the owner to sell his property. Such sale or sales of the property appraised and all recent sales of other properties that are sufficiently comparable to the property being appraised to be considered by the APPRAISER in forming his opinion of fair market value shall be verified insofar as practical. Each such verification shall include inspecting the property and interviewing the seller, buyer, agent, or other person, who participated in the transaction, to ascer- tain the consideration paid, the terms and conditions of the sale, any special factors affecting the amount of the sale price, and the actual character and .condition of the property at the time of sale. 4. Testimony in Judicial Proceedings. Testify as an expert witness in behalf of the COUNTY in any judicial proceedings involving any property appraised under this agreement. Such services shall include such reasonable time as may be required for reinspection of the property, updating the APPRAISER'S valuation, participation in pre-trial con- ferences with counsel for the COUNTY, and testifying in the judicial proceeding. Such services shall be compensated in accordance with SECTION VI. 5. Modification of Delivered Appraisal Reports. Modify or furnish supplements to any appraisal report fur- nished hereunder, without additional cost to the COUNTY, if (a) applicable principles of law with respect to the valua- tion of the property require the modification or supplement- ing of such appraisal, (b) material omissions, inaccuracies, or defects in the appraisal report are discovered after delivery and acceptance of the report by the COUNTY, or (c) the APPRAISER receives or becomes aware of relevant addi- tional appraisal information in existence prior to the date the APPRAISER signed the report. If there is a significant delay between the date of valuation and the date of acquisi- tion of any parcel or if the property has been materially altered since the appraisal by a fire, a revised determina- tion of the boundaries or the interest to be acquired, or other cause, the APPRAISER shall, if requested by the COUNTY, furnish the COUNTY a supplementary report updating his valuation and the supporting data and analyses to a current date. The compensation for such updating of an appraisal shall be determined in accordance with any applicable provi- sions of this agreement.