HODGES LACY & ASSOCIATES, LLC - 2014

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• Consultant shall diligently work on each assignment and complete each task in accordance with the schedule to accommodate the City's needs. • Consultant's work will be subject to inspection by City, County, State and Federal representatives. • Project files, including copies of all correspondence, reports, documents, and electronic files shall be submitted to the City as requested and electronically updated at least monthly. • All work, including reports, analysis, data, and intellectual property developed during the life of the Agreement shall become the property of the City. • The Consultant will receive written notification of the award of the contract. Upon on such notification, the Consultant will proceed with the services required by the Agreement. • The Consultant shall complete work under the direction of City staff. The Consultant will be expected to provide experienced and knowledgeable professional staff which will be responsive and maintain excellent working relationships with property owners, tenants, and City staff. The Consultant shall be committed to provide adequate staffing levels at all times in order to adhere to established schedules. The Consultant shall be knowledgeable and very familiar with federal, state and local regulations, policies and procedures as pertain to the right of way services provided. FURNITURE FIXTURES AND EQUIPMENT APPRAISAL SERVICES includes: • Budgetary Estimates of Fixtures and Equipment Values Budgetary estimates are used by public agencies in planning and preparing a project budget. Consultant's estimates of fixtures and equipment values will be based upon a "drive by" site inspection of the subject business, limited market research, and any publicly available data. In addition, the estimate should be based on Consultant's experience in preparing fixtures and equipment appraisals of comparable businesses, as well as Consultant's knowledge of relevant statutes and case law, negotiated settlements and jury awards in eminent domain proceedings. Consultant's results will be presented in a brief letter to the City Attorney. • Fixtures and Equipment Appraisals Consultant will provide a fully contained appraisal report, in triplicate, of the improvements pertaining to the realty and major movable equipment of each business appraised. The report will include an estimate of the fair market value in place and liquidation value of all appropriate items and will be prepared in conformance with Article 3 of the California Code of Civil Procedure, Sections 1263.205 and 1263.210. (Compensation for losses in connection with movable personal property is included in the California Code of Regulations, Title 25, Sections 6090 and 6092.) Appraisal procedures will be guided by the Uniform Standards of Professional Appraisal Practice (USPAP).