Contract - Hornsby & Company - 7/28/2022 HOIMSBY & COMPANY
APPRAISERS AND CONSULTANTS
Paul Hornsby. MAI SRA Jake Kane,Analyst
Chris Hornsby,MAI,Principal Kimberly Hussey,Analyst
Eli Hanslik,MAI Lindsey Berry,Analyst
Melany Adler.MAI Tanner Cole,Analyst
Katie Daniewicz,MAI Sarah Taylor,Analyst
Clifford Shaw ASA Terri Bowden Nolker,Business Manager
Justin Sims,State Certified Cynthia Stevens,Administrative Support
June 28, 2022
City of Round Rock
c.`o Steve Sheets
Sheets& Crossfield, P.C.
309 East Main Street
Round Rock, Texas 78664
Re: Proposal for appraisal services relating to ten (10)partial fee acquisitions out of tracts of land
located along CR 112, Round Rock, Texas.
Dear Mr. Sheets,
As requested, 1 am pleased to provide this proposal for appraisal services relating to the
properties captioned above. Terms of the assignment are summarized below.
Real Estate to be Appraised: Ten (10) partial fee acquisitions out of tracts
of land located along CR 112, Round Rock,
Texas.
Purpose of the Appraisal: To estimate the just and adequate
compensation for the proposed acquisitions
as of the date of inspection.
Use of the Report: Establishing a basis for partial acquisition of
the properties.
7600 N.Capital of Texas Highway •Building B, Suite 210 • Austin,Texas 78731 • 512-477-6311 •
(Pax)512-477-1793
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Appraisal & Reporting Standards: The appraisals will be developed and the
reports will be prepared in conformity with
and subject to the requirements of the
Uniform Standards of Professional
Appraisal Practice (USPAP) of the
Appraisal Foundation and the Code of
Professional Ethics and the Standards of
Professional Practice of the Appraisal
Institute.
The results of our analysis will be set forth
in ten (10) Appraisal Reports as defined by
Standards Rule 2-2(a) of USPAP.
Fee: $55,000 ($5,500 each), payable
incrementally upon delivery of each report.
These fees are predicated on the assumption
that only the land component of each
property will be appraised and the primary
improvements are not impacted by the
proposed acquisition(s). Should
improvements need to be appraised the fee
will be revised to a mutually agreeable
amount.
All time spent subsequent to the initial
appraisals, including, without limitation,
updates, meetings, depositions, mediation,
arbitration, trial and preparation for
testimony, will be billed at the following
hourly rates.
Paul Hornsby $495/hour
Chris Hornsby $395/hour
MAI Staff Appraisers $350/hour
State Certified Appraisers $275/hour
Appraiser Trainees $225/hour
Research Staff $195/hour
Administrative Staff $115/hour
Completion: Estimated at 60 days from your written
authorization to proceed.
If these terms are acceptable, please indicate by executing this agreement and returning one copy
to me. I look forward to working with you on this assignment.
Respectfully Submitted,
Paul Hornsby & Company
/-1 01"�
Paul Hornsby, MAI, SRA
Accepted: City of Round Rock
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Craig Mo an, Mayor