CM-2024-292 - 11/15/2024HORNSBY & COMPANY
APPRAISERS AND CONSULTANTS
Paul Hornsby, MAI, SRA
Chris Hornsby MAI Pnncipal
Eli Hans ik, MAI
Katie Dan ewncz, MAI
Justin Sims, MAI
Jake Kane. State Certified
Kimberly Hussey. Analyst
November 6, 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
Layna Fultz, Analyst
Calton Cardinell, Researcher
Nakeea Miller, Business Manager
Stefanie Alvarez, Administrative Support
Andrew Dzib-Galvan, Administrative Support
Re: Proposal for appraisal services relating a 2.989 acre tract of land improved with a residential
style building located at 920 Luther Peterson Place, Round Rock, Texas.
Dear Mr. Childs,
As requested, I am pleased to provide this proposal for appraisal services relating to the property
captioned above. Terms of the assignment are summarized below.
Real Estate to be Appraised:
Purpose of the Appraisal:
A 2.989 acre tract of land improved with a
residential style building located at 920
Luther Peterson Place, Round Rock, Texas.
To estimate the market value of the fee
simple interest in the subject property as of
the date of inspection.
Use of the Report: Establishing a basis for acquisition of the
property.
7600 N. Capital of Texas Highway • Building B, Suite 210 • Austin, Texas 78731 • 512-477-6311 •
(Fax)512-477-1793
6N, 2- 2
Appraisal & Reporting Standards: The appraisal will be developed and the
report will be prepared in confonnity 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 an Appraisal Report as defined by
Standards Rule 2-2(a) of USPAP.
Fee: $7,500, payable upon delivery of the report.
This fee is predicated on the assumption that
only the land component of the 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, MAI, SRA $585.'hour
Chris Hornsby, MAI
$495/hour
MAI Staff Appraisers
$425'hour
State Certified Appraisers
$3501hour
Appraiser Trainees
$250:`hour
Research Staff
$195/hour
Administrative Staff
$1251hour
Completion: Estimated at 30-45 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 a-"
Paul Hornsby, MAI, SRA
Accepted:
//- /S-?moo 2
Date
City of Round Rock
By: Laurie Hadley, City Ma ger
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