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HomeMy WebLinkAboutRally Appraisal LLC-11/15/2010FIRST AMENDMENT TO CONTRACT FOR APPRAISAL SERVICES - SECONDARY APPRAISER This First Amendment to Contract for Appraisal Services — Secondary Appraiser is made as of the date set forth below by and between the City of Waterloo, Iowa ("City") and Rally Appraisal, L.L.C. ("Appraisal Company"). WITNESSETH: WHEREAS, the City and the Appraisal Company have heretofore entered into a certain Contract for Appraisal Services — Secondary Appraiser dated November 15, 2009 (the "Agreement") for the Appraisal Company to provide appraisal services to the City pertaining to the City of Waterloo's Hazard Mitigation Grant Program (HMGP) Property Acquisition Project; and, WHEREAS, pursuant to the Agreement, the initial term of the Agreement was for twelve (12) months, from December 1, 2009 to November 30, 2010; and, WHEREAS, the Agreement provides that the City and Appraisal Company may renew the original Contract for six (6) month time periods by mutual agreement; and, WHEREAS, it is anticipated that there will be a need for appraisal services pertaining to the HMGP Property Acquisition Project past the initial term of the Agreement. NOW, THEREFORE, the parties hereby amend the Agreement to extend the term thereof for an additional period of six (6) months, from December 1, 2010 to May 31, 2011, and to modify the Service Fee Addendum to read in full in the form attached hereto. All other terms and conditions of the Agreement shall remain in full force and effect, without modification. IN WITNESS WHEREOF, the parties have caused this First Amendment to Contract for Appraisal Services — Secondary Appraiser to be executed by their duly authorized representatives, effective as of the last date stated below. CITY OF WATERLOO, IOWA By: Ernest�k, Mayor Date: Attest: 11412-616 Suzy c ares, City Clerk LLY APPRAISAL, L.L.C. LIA Title: �,� i©% Npm.;►5t►\ Date: \ - a,ol o SERVICE FEE ADDENDUM (Modified by First Amendment) Activity Title Cost Residential Appraisal Summary Format $400 Vacant Land Appraisal Summary Format $300 SSA Common Ground Summary Format $1,200 Garage Structures Summary Format $950 Vacant Land, Sans Souci Island, Summary Format $1,200 Total actual expenses allowed by the project budget, including any renewal extensions of the Contract, shall not exceed $5,750.