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<br />~A-~ <br /> <br />AGREEMENT <br />FOR <br />PROFESSIONAL REAL ESTATE APPRAISAL SERVICES <br /> <br />THIS AGREEMENT, made and entered into this - day of <br /> <br />,2000, by and between the REDEVELOPMENT AGENCY OF <br /> <br />THE CITY OF REDWOOD CITY ("Agency"), a public body, corporate and politic, <br /> <br />and FABBRO, MOORE & ASSOCIATES, INC. ("Consultant"); <br /> <br />WITNESSETH: <br /> <br />WHEREAS, Agency requires professional real estate appraisal services <br /> <br />for the proposed Downtown Retail-Cinema Project in the City of Redwood City <br /> <br />(the "Project"); and <br /> <br />WHEREAS, Consultant represents that it possesses the experience. and <br /> <br />is qualified to perform the aforesaid services for the Project; <br /> <br />NOW, THEREFORE, the parties hereto agree as follows: <br /> <br />1. <br /> <br />CONSULTANT'S SERVICES. <br /> <br />Consultant shall provide appraisal <br /> <br />reports, under direction by Agency Counsel, for properties located within the <br /> <br />Downtown Retail-Cinema Project Area established by Agency. Said reports shall <br /> <br />provide current market value estimates for acquisition purposes including <br /> <br />acquisition by eminent domain. Accordingly, the definition of fair market value <br /> <br />established in California Code of Civil Procedures Section 1263.320 shall apply. <br /> <br />The appraisal reports shall comply with the Appraisal Institute's Code of <br /> <br />Ethics and the Uniform Standards of Professional Appraisal Practice ("USPAP"). <br /> <br />The format of each report shall be a complete appraisal/summary report as <br /> <br />Agmt-RD-OO3 <br />DES:djk <br />F :/Shared/Redwood/Cou ncil <br />05/12/00 <br /> <br />1 <br /> <br />our - <br />