ST9902-CN101111WALLACE JONES & ASSOCIATES
File No
Case No.
CONTRACT FOR SERV
This contract is binding upon Wallace Jones
herein after referred to as The Appraiser, and The ty of Coppell
herein after referred to as The Client.
1. The Appraiser agrees to provide a written:
❑X APPRAISAL REPORT ❑ FEASIBILITY STUDY
❑ HIGHEST AND BEST USE STUDY ❑
of the following property: 250 W. Sandy Lake Road, 100 Oak Trail and 101 Shady Dale Lane
It will confirm with and be subject to the requirements of the Code of Professional Ethics and Standards of Professional
Conductof The Uniform Standards of Professional Appraisal Practice and the Appraisal Institute.
2. The Appraiser agrees to deliver electronic copies of this report to The Client approximately 20 days from the date this contract is
signed by both The Appraiser and The Client.
3. Based upon The Appraiser's preliminary inspection of the property, it is estimated that the fee will be $ 2,700
The final fee will reflect the actual time that will be required to make the report and is in no way connected with any value to be estimated.
4. The Client agrees to pay The Appraiser the fee as follows:
❑ $ retainer upon the signing of this contract by The Client.
❑X The balance upon notification that the report is completed and prior to its delivery.
5. The Appraiser herein shall not be required to give testimony or to attend any public or private hearing in court with reference to the
property unless a Supplemental Employment Agreement has been negotiated.
6. In the event The Appraiser subpoenaed or otherwise required to give testimony or attend any public or private hearing as a result
of having prepared this report, The Client agrees to pay The Appraiser $ 1,200 per day ($ 500 minimum)
for attendance or testimony required.
7. It is further agreed and understood that if any portion of the compensation or cost due toThe Appraiser, becomes delinquent,
The Client will pay interest thereon at a rate of 10 % per annum on said account from the due date until paid, and
further agrees to pay all costs of collection thereof, including reasonable attorney's fees, court costs, etc.
8. In the event that The Client desires to cancel this contract, written notice thereof shall be delivered to The Appraiser, and it agreed
that The Appraiser shall receive compensation from The Client for all services rendered at the rate of $ n/a per day
for the time actually spent prior to receipt of written notice to stop work, plus all costs advanced in connection with said work prior to
receipt of written notice.
Accepted by:
The Client Date
+ 11/10/10
The Appraiser WALLACE E. JON , SRA Date
The appraisals will only be used for mortgage lending purposes. The appraisals will be completed on the FNMA 1004 dated March 2005.
Two appraisals will be performed on each property to indicate the value before and after the release. Access will be given to both the
interior and exterior of each property during the course of this assignment.