CM-2018-1923 - 10/26/2018e'NV1C.
NATIONAL VALUATION GROUP
5501-A Balcones Drive, Suite 229
Austin, Texas 78731
Telephone: (512) 3 27-1110
October 5, 2018
Don Childs
Sheets & Crossfield, P.C.
309 East Main
Round Rock, Texas 78664
RE: Appraisal Service Agreement RM 620 --Parcel 22
Maaco Collision Repair, 732 Round Rock Avenue, Round Rock, Tx 78681 (8502300)
Dear Mr. Childs:
Please be advised that National Valuation Group proposes to provide real estate appraisal services on the above
referenced project. It is our understanding that the purpose of our report is to estimate the market value of
subject property, along with the recommended compensation for proposed acquisitions associated with the road
widening of Round Rock Avenue.
The fee for our initial appraisal services will be $7,000 with an estimated completion date of 60 days from date
of formal engagement. It is agreed that payment is due within 30 days of the date of invoice.
The Appraisal fees shall not include post report delivery meetings with persons other than Client or Client's
agents or professional advisors and does not include the Appraiser's pre-trial work including deposition(s) or
testimony before judicial, arbitration or administrative tribunals; or any preparation associated with such
depositions or testimony. Any of the above referenced additional services will be billed separately at an hourly
rate of $300/hour with a fee not to exceed $10,000. Any appraisal report updates are not included and will
require a separate engagement agreement and appraisal fee.
The appraisals will be prepared in accordance with the Code of Professional Ethics of the Appraisal Institute
and the Uniform Standards of Professional Appraisal Practice. It is mutually agreed that the performance of our
product is not contingent upon any predetermined conclusions as to the value, marketability, or feasibility of the
property involved in this assignment.
Before work can proceed, please sign this agreement and return via email to; nvripht(@nvalgroup.com.
We appreciate the opportunity to have been chosen to work on this assignment and look forward to working
with you in the weeks to follow.
Sincerely, SIGNED AND ACCEPTED:
Aaa/aff, ri( t,04e
Randall Wright, MAI�aa�sAutd Agent for City of ound Rock
a e. , City ager
Effective Date: October , 2018
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City of Round Rock
T_r 7 ROCK
LXAS Agenda Item Summary
Agenda Number:
Title: Consider executing a letter agreement with National Valuation Group
regarding real estate appraisal services needed for the RM 620/Round Rock
732 Building (Maaco)IParcel 22 right of way condemnation suit.
Type: City Manager Item
Governing Body: City Manager Approval
Agenda Date: 10/26/2018
Dept Director: Gary Huddler
Cost: $17,000.00
Indexes: RR Transportation and Economic Development Corporation (Type B)
Attachments: 00411852.PDF, 00411916.PDF
Department: Transportation Department
Text of Legislative File CM -2018-1923
Consider executing a letter agreement with National Valuation Group regarding real estate
appraisal services needed for the RM 620/Round Rock 732 Building (Maaco)IParcel 22
right of way condemnation suit.
The potential costs approved by the letter agreement consist of an initial amount of $71K for
completion of a trial appraisal report, and an additional hourly fee for litigation tasks as
needed in an amount not to exceed $1 OK.
Cost: an initial amount of $7,000 not to exceed $17,000
Source of Funds: RR Transportation and Economic Development Corporation
City of Round Rock Page 1 Printed on 40/25/2018