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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. RccelvaD NN 4E NO INlp;.p 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 lGomdmeed ow W 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 1�/ ATTEST t