HomeMy WebLinkAbout1961-09-25 225-N ORDERIntroduced by Councilor Barry, Sept. 25, 1961 225-N
CITY OF BANGOR
I_ tN1iDETt-__Authsorizimgthe Board of Assessors to Enter IMo an
Agreement with John J. Kenney for Appraisal Service
"a
� o F
�v tyY C% Council oft City ofEanpor:
OyE=kED,
A ^ THAT the Board of Assessors is hereby authorized to enter into
an agceennnt with John J. Kerney for appraisal of estates; said
agreement is on file with the City Clerk.
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City CgRKF8 o
'1Y p%REROOR, MAINE�
IN CITY 00=1L
Sept. 25, 1961
PASSED
225-N
ORDER
Uft
Aymeement_with John J, Kenney -_-
Appraisal Service
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a ROME ASSESSING DEPARTMENT
BANGOR. MAINE
CONTRACT POR APPRAISAL OF ESTATES
THIS AGREEMENT, entered into this - day
of(�., , 1961, by and between Heed. curet M.
kbscc , an ay , Allays hereinafter referred to as the "Assessors",
and John J. Kenney, M.A.I., hereinafter referred to m the
"Appraiser". WITNESSETH:
WHEREAS the Assessors propose to evaluate certain proper-
ties belonging to the Citizens Utilities Companys and located in
Bangor, Maims hereinafter referred to at; the "sites";
NOW. THEREFORE, The Assessors and the Appraleer* for the
consideration and under the conditions hereinafter set tombs do
agree as follows:
1. The Appraiser agrees tot
a. Consult with and advise the Assessors, at such
time or times as may be mutually convenient for
the parties to this contract, regarding the
functions performed and to be performed hereunder
and the estate aspects of the reports prepared
and to be prepared by the Appraiser under this
contract.
b, Make recommsndatlom to the Assessors as to the
method of evaluating the property,
c, Appraise each of the sites and/or Interests by
the income method,
d. Maka such inspections, Investigations, and studies
m are necessary or appropriate to enable the
Appraiser to perform properly the functions to be
performed by the Appraiser under this contract.
e. Prepare and deliver to the Assessors, within 120
days following =ties by the Assessors to proceed
with the preparation of the appraisal report,
which report shall conform to recognised pro.
fessional practice and shall, among other things,
contain the followings
(1) Letter of Transmittal. A letter of trans.
mrfTWI,_vKTER_sK=eontaIn a summary of
the principal findings, conclusions, and
suggestions of the Appraiser, including
the Appraiserts estimates of the fair value
of each of the sites in Bangor for use in
accordance with ad valorem taxation.
(2) Ganeral Fin ng, With respect t0 the
i ropers D As�ols, an analysis of the
principal factors influencing the market-
ability and value of the sites, including
consideration of such matters u the
activity of the real estate market during
the past several years for properties am.
parable to the sites, the current demand
for such properties and the extent of a m-
petltive properties presently available to
meet the current and future demand mticl-
pated In a reasonable length of time, the
environment of the area, and its location
with respect to the remainder of the com-
munity.
2. The Assessors agree to furnish to the Appraiser:
a, Copies of a map, or maps, drawn to scale and
showing the entire Area and the proposed
boundaries of each site, and further Sn[oemation showing:
(1) The dimensions and land area of each site,
(2) Topographic lines and conditions of the
surface which are to be established for
each site, ,�
(3) utilities a/ t available to each site,
including sewers, water, gas, and
electricity.
(4) Rights-of-way for streets, driveways,
and walks or sidewalks, adjacent or
providing access to each site, Including
wldthe and types of paving,
(5) gmements, if any, to be reserved.
b. All available information as to zoning and as
to building regulations, or reatrictlona, per-
caning to the Area.
c. Access to and permission to Inspect, at reuon-
able times and under reasonable conditions, my
plana, reports, statistics, atudieae records,
or other data or information prepared or owned
by the Assessors and relevant to the subject
matter of the services to be furnished by the
Appraiser under this contract.
3. The Assessors reserve the right to request, and the Appraiser
agrees to furnish, any additional Information pertinent
to the appraisal and the analysis and not contained in
the appraisal reports.
4. The performance of services or acceptance of the reports re-
quired hereunder shall not relieve the Appraiser from obliga-
tion to correct any defective work, whether previously or
subsequently diecovered, and all incomplete, inaccurate, or
defective work shall be remedied by the Appraiser on demand
without cost to the Assessors.
5, The Assessors shall pay to the Appraiser compensation for
all services performed hereunder in the total amount of
=1,400.00, which shall include such additional or supple-
mental data as may be required under Paragraph 3 or Parra -
graph 4 hereof.
6. The Appraiser agrees that my and all reports prepared and
conclusions reached hereunder are for the confidential
information of the Assessors and that neither the Appraiser
nor any member of the Appraiser's personnel will disclose
my of the same in whole or in part to my person whatsoever
or discuss the same with any person whatsoevere other than
the Assessors or their authoMzed representatives, except
when called upon to testify in relation to such report or
conclusions under oath in a judicial forum, or as may be
otherwise required by law,
a. The Assessors agree also that a ems of money,
in the amount of $100.009 will be held in
escrow to cover Appraiserge expenses in con-
nection with any court appearances.
7. As an inducement to the execution of this agreement by the
Assessors, the Appraiser represents and agrees that the
Appraiser has not employed any person to solicit or
procure this contract. and has not made, and will not
makes any payment or any agreement for the payment of
any commission, percentage, brokerage, contingent fee,
or any other compensation in connection with the pro-
ourement of this contract.
8. The Property Is described as follows%
a. Neal Estate at 345 Main Street, Bangor, Maine,
and city-wide Transmission Syetam.
b. Personal Estate at 1 Central Street, and
345 Main Street, Bangor, Maine.
IN WITNHSS WHEREOF, The parties hereto have caused this
contract to be executed In duplicate on the day and year first
above written,
In the presence oft
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ATTEST t