CM-2024-076 - 3/8/2024HORNSBY & COMPANY
APPRAISERS AND CONSULTANTS
Paul Hornsby, MAI, SRA
Chris Hornsby, MAI, Principal
Kimberly Hussey, Analyst, Principal
Eli Hanslik, MAI
Katie DanieWcz, MAI
Justin Sims, State Certified
Jake Kane, State Certified
February 23, 2024
City of Round Rock,
c/o Don Childs
Sheets & Crossfield, P.C.
309 East Main Street
Round Rock, Texas 78664
Tanner Cole, Analyst
Lindsey Berry, Analyst
Scott Nevil, Analyst
Layna Fultz, Analyst
Roel Jaramillo, Researcher
Terri Bowden Nolker, Business Manager
Beth Boyd & Stefanie Alvarez, Administrative Support
Re: Proposal for appraisal services previously rendered on June 12, 2023, relating to a 7,156 SF
fee acquisition out of a 1.429 acre tract of land improved with a single-family residence located
at 1060 Red Bud Lane.
Dear Mr. Childs
As requested, I am pleased to provide this proposal for appraisal services relating to the property
captioned above. This engagement letter is being sent as this assignment was performed as
requested, but without receipt of written authorization. Terms of the assignment are summarized
below.
Real Estate to be Appraised:
Purpose of the Appraisal:
A 7,156 SF fee acquisition out of a 1.429
acre tract of land improved with a single-
family residence located at 1060 Red Bud
Lane.
To estimate just and adequate compensation
for the proposed acquisition as of the date of
inspection, which was June 12, 2023.
7600 N. Capital of Texas Highway • Building B, Suite 210 • Austin, Texas 78731 9512-477-6311 •
D'(�_ w "ax) 512-477-1793
Use of the Report: Establishing a basis for partial acquisition of
the property.
Appraisal & Reporting Standards: The appraisal was developed and the report
was 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 were forth in an
Appraisal Report dated June 14, 2023 as
defined by Standards Rule 2-2(a) of
USPAP.
Fee: $5,500, payable upon
receipt of this
engagement letter.
All time spent subsequent to the initial
appraisal, including, without
limitation,
updates, meetings, depositions,
mediation,
arbitration, trial and
preparation for
testimony, will be billed
at the following
hourly rates.
Paul Hornsby, MAI, SRA
$5851hour
Chris Hornsby, MAI
$495/hour
MAI Staff Appraisers
$425{hour
State Certified Appraisers
$350.ihour
Appraiser Trainees
$250ihour
Research Director
$3001hour
Research Staff $195/hour
Administrative Staff $125fhour
Completion: The initial report was completed on June 14,
2023 at the written request of Sheets &
Crossfield.
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
/,a"
Paul Hornsby, MAI, SRA
Accepted:
Date
City of Round Rock
By. Laurie Had ey, City Man r