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2796 t . RESOLUTION NO. 2,796 A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK TO ENTER INTO AND EXECUTE A CERTAIN CONTRACT WITH WILLIAM A. PAYNE, APPRAISER, TO MAKE APPRAISALS OF CERTAIN COMMERCIAL PROPERTIES TO BE ACQUIRED BY THE CITY IN CONNECTION WITH THE EAST-WEST EXPRESSWAY; AND FOR OTHER PURPOSES. BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE ROCK, ARKANSAS: SECTION 1. The Mayor and City Clerk are hereby authorized and directed to enter into and execute a Contract with William A. Payne, Appraiser, to make appraisals of certain commercial properties to be acquired by the City in connection with the East-West Expressway, which Contract shall be in form and words as follows: C O N T R A C T THIS CONTRACT made and entered into this day of , 1962, by and between the City of Little Rock, Arkansas, hereinafter referred to as the "City" , and William A. Payne, hereinafter referred to as the "Appraiser" , WITNESSETH THAT: WHEREAS, the City has, pursuant to a resolution duly en- acted by its Board of Directors, same being Resolution No . 2777, determined to acquire certain property in an area of the City de- scribed by certain surveys and plans adopted by the City and known as the East-West Expressway Project ; and WHEREAS, the City, pursuant to said Resolution No . 2777, • proposes to acquire certain commercial property in the said Pro- ject area and desires to obtain an appraisal of each parcel to be acquired, including all improvements, structures, appurtenances or other elements of value which are recognized by the courts in eminent domain proceedings located upon or being a part of said parcel; and WHEREAS, the Appraiser represents that he is authorized and qualified to make such appraisals and is familiar with recognized appraisal practices and with the standards required for determining values in eminent domain proceedings ; NOW THEREFORE, the City and the Appraiser, for the considera- tion and under the conditions hereafter set out, do agree as follows: 1 . The Appraiser shall perform all the necessary services provided under this Contract in connection with and respecting the property located within the Project area and shall do and perform and carry out in a satisfactory and proper manner as determined by the City the following: a. Make a personal inspection of each of the parcels CONTRACT - Page Two in that portion of the Project area furnished to said Appraiser in a list to be provided by the City, including all improvements, structures, appurtenances or other elements of value thereon or thereunto belonging which are recognized by the courts in emi- nent domain proceedings and to advise the City in a written re- port of his opinion of the fair market value of each such parcel. b. Report his findings on forms supplied by the City in four (4) copies within one hundred twenty (120) days following notice by the City to proceed with the appraisal of each cer- tain parcel . The report shall in form and substance conform to recognized appraisal practices and to the principles of evaluating property for determining values in eminent domain pro- ceedings. The report, among other things, shall contain the Appraiser ' s opinion of th= fair market value of each parcel, and his opinion of the fair market value of the improvements, structures or appurtenances located upon such parcel and, when required by the City, an income analysis and a comparative sales statement, all in accordance with the appraisal forms to be fur- nished by the City. L . The performance of services or acceptance of the appraisal reports required hereunder shall not relieve the Appraiser from obliga- tion to correct any defective work subsequently discovered, and all incomplete, inaccurate, or defective work shall be remedied by the Appraiser on demand without cost to the City. 3 . In the event that the testimony of the individual appraiser is required in any legal proceedings in connection with the City's acquisition of the property herein referred to, the Appraiser agrees to appear as a witness on behalf of the City and agrees that the fair and reasonable compensation for his services shall be the sum of One Hundred Dollars ($100 .00) per day for each full day' s attendance in court, and a like sum for each full day devoted to preparation for trial. In the event such attendance or trial preparation shall be one-half day or less, compensation shall be made on the basis of Fifty Dollars ($50 .00) for such half day. The Appraiser shall keep such personal records of all details with respect to the appraisal of parcels as will -enable the Appraiser to appear as such witness . CONTRACT - Page Three 4. It is understood and agreed that the Appraiser shall re- ceive compensation for services performed hereunder, except as pro- vided in Paragraph 3 hereof, in the amount of Three Thousand and No/100 Dollars ($3 ,000 .00) , which shall include such supplemental services as may be necessary or desirable to enable the Appraiser to perform the services required under the provisions of this Con- tract, exclusive of payment for actual court appearances . The pay- ment for services rendered under this Contract will be made upon completion of the appraisal of the parcels assigned to the Appraiser. 5 . The Parties hereto agree that the parcels to be appraised under this Contract are Parcel Nos . 170, 171, 172, 175 , 176, 178, 179 and 180 as more particularly described in a list furnished to the Appraiser by the City; in the appraisal reports the numbers used shall correspond with the numbers as shown on the list furnished by the City. The City will, when it deems it necessary, furnish to the Appraiser all recent sales of the property appraised and all recent sales of comparable property, which the Appraiser may need in arriving at his conclusion of the fair market value of the property appraised. 6. The City, at any time, may exclude any parcel or parcels from the operation of this Contract, and, in such event, equitable adjustment shall be made for all work completed and accepted prior to such exclusion and for any substantial amount of services or work per- formed to the date of such exclusion but not in such form that it can be accepted by the City; such adjustment in no event to exceed the total amount provided in Paragraph 4 hereof. In any adjustment re- ferred to in this Paragraph, the City will consider an appraisal to be one which would entitle the Appraiser to the full compensation pro- vided for in Paragraph 4 when the Appraiser has done all the work CONTRACT - Page Four required of him except completing his report; provided, however, that the Appraiser furnishes his completed report to the City within a reasonable time after the exclusion of any such parcel. 7 . The Appraiser ' s obligations and duties under this Contract shall not be assigned in whole or in part . 8 . The Appraiser agrees that his report and conclusions are for the confidential information of the City and lie will not disclose his conclusions in whole or in part to any person whomsoever, except when called upon to testify in relation to such report under oath in court . In addition to submitting his report to the City, the Appraiser will discuss the same with it, or its authorized representatives, when necessary to explain the report, to resolve discrepancies or excessive differences in appraisals of the same parcel at no extra cost to the City, but in no event will the Appraiser be called upon to negotiate or assist in negotiating for the purchase of any parcel unless such expert consultation, with reference to negotiations, is deemed neces- sary by the City, in which event the Appraiser so consulted will be compensated for such consultation at the rate of Fifteen Dollars {$15 .00) per hour. 9 . In the event of breach of any condition or provision hereof, the City shall have the right, by prior written notice to the Appraiser, to terminate the employment of the Appraiser hereunder and cancel this Contract and have the work thus cancelled or otherwise performed, with- out prejudice to any other rights of remedies of the City. The City shall have the benefit of such work as may have been completed up to the time of such termination or cancellation, and with respect to any part which shall have been delivered to and accepted by the City, there shall be an equitable adjustment of compensation, which, in no event, CONTRACT Page Five shall exceed the total amount provided in Paragraph 4 hereof (bat exclusive of the provisions of Paragraph 3 hereof) . 10. The term "Parcel" as used herein means any contiguous tract of land in the same ownership, whether platted or anplatted, and when platted such tract may consist of one or more platted lots or a fractional part thereof. 11 . It is understood that the time within which the work is to be performed is of primary importance and of the essence of this Contract. The Appraiser will proceed with the work hereunder in such sequence and order as to the different parcels as the City may, in writing, direct and will furnish and deliver the appraisal reports to the City as soon as completed. IN WITNESS WHEREOF , the parties hereto have caused this Contract to be executed on this day of , 1962. CITY OF LITTLE ROCK, ARKANSAS BY Werner I. Knoop, Mayor ATTEST Pauline 1. Beeson, City Clerk William A. Payne, Appraiser J • SECTION 2. This resolution shall be in full force and effect from and after its adoption. ADOPTED: February 5, 1962 ATTEST: P6 - . /3c� APPROVED: tr/fM7( City Clerk 11ayor .