Contract for Professional ServicesUrban Real Estate Research, Inc.
316 North Michigan Avenue, Chicago, Illinois 60601
Phone (312)201-9500. Fax/(312)201-9525. Email urbanreal@urbanreal.com
CONTRACT FOR PROFESSIONAL SERVICES
PROPERTY TO BE APPRAISED:
PROPERTY: Proposed Field House in Salina. Kansas
PIN: N/A
PURPOSE/USE OF APPRAISAL: Determining Fair Market Rental Value of Field House
BRIEF DESCRIPTION: Market Rental Analysis of Space within the Proposed Field House
REFERRAL/ATTORNEY: Dan Klaff
Please carefully read the terms of this Contract and if the terms are acceptable to you, kindly acknowledge your agreement by signing and
returning this contract, thereby giving us the authority to proceed with the assignments.
Urban Real Estate Research, Inc. proposed market rental analysis and appraisal -,will conform to the Code of Professional Ethics of the
Appraisal Institute and the Uniform Standards of Professional Appraisal Practice.
Upon receiving your signed authorization to proceed, we will complete the assignment by June 10, 2016. Upon completion of these
assignments the appraiser will send to the undersigned client copies of the reports and an invoice for the fees specified in this contract.
The undersigned appraiser will be happy to meet with the client to discuss the reports at this time.
Our fee for the market rental analysis is 53,000. The fee is due upon completion of the assignments and delivery of the reports and
shall be deemed delinquent if not paid within 60 days of the date of the invoice. A finance fee of 1.5% per month on the outstanding
invoice balance will be added to any balance more than 60 days past due. The undersigned client agrees to pay the fees specified in
this contract upon completion of these assignments and receipt of the assignments and the invoice. Additionally, if this account
becomes delinquent, as defined above in this contract, the client agrees to pay all costs of collections, including but not limited to
court costs and attorney's fees.
If.any provision of this Agreement is found by any court or competent jurisdiction to be invalid or unenforceable, the validity of such
provision not affected by such invalidity shall remain in full force and effect.
UNDERSIGNED AGREES TO PAY WITHIN 60 DAYS OF COMPLETION OF ASSIGNMENT OR ABOVE STATED FINANCE FEE
WILL BE CHARGED. OWNER OR AUTHORIZED LEGAL AGENT FOR OWNER (RESPONSIBLE FOR INVOICE PAYMENT):
CLIENT NAME (PLEASE PRINT):
AUTHORIZED SIGNATURE:
TITLE: De- e44V City tc 2� Ger
ADDRESS: `3QW . fish Sf -.Sr. 4a 4 /cls 4751,1/
PHONE: o g -,S -9a -w
E-MAIL: m Ke . SC.h ra 5e e —'cg/, lg
EXTENT OF AGREEMENT
This Agreement represents the entire and integrated agreement between the Client and Appraiser and supersedes all prior negotiations,
representations or agreements, whether mitten or oral. This Agreement may be amended only by a written instrument signed by both Client
and Appraiser.
ENFORCEMENT OF AGREEMENT
This Agreement, and all disputes arising out of or in connection with this Agreement; shall be governed by and construed in accordance with
the laws of the State of Illinois. The Federal and State courts within the State of Illinois shall have exclusive jurisdiction to adjudicate and
disputes arising out of or in connection with this Agreement an each party consents to the personal jurisdiction of such courts.
The prevailing party in any legal proceeding brought by one party against the other party and arising out of or in connection with this
Agreement shall be entitled to recover it legal expenses, including court costs and reasonable attorneys' fees.
By: Urban Real Estate Research, Inc:
Signature
Printed Name
Date.
INVOICE TO BE SENT TO:
NAME (PLEASE PRINT): AKe
TITLE:
CLIENT NAME: ifAv
ADDRESS: -3ap 0. 1 'Ish ,5
PHONE: '7 S3D'9N- " Fax
By: Client/Ad _
Signature:
Printed Name C SC
Date ( -fir
Id
S (0 7-/C)/
Email: /Yli - SCA rt.
Urban Real -Estate l:esearch, Inc.
316 North ?Michigan Avenue • Chicago, Ilhwis WWI
a4Zr"?Ot-�i501? Fax312F201-9525
Email: urtsarrnralartw zf al.cum
May 26, 2016
Mr. Dan Klaff
Applegate & Thorne -Thomsen
626 West Jackson Boulevard, Suite 400
Chicago, Illinois 60661
RE: Market Rental Analysis of a Field House
Salina, Kansas
Dear Mr. Klaff-
We are pleased to respond to your request for a proposal. We are confident we can produce a
market rental analysis of a proposed field house complex in Salina Kansas. The market rental
analysis will be for the field house space. We would not accept this assignment unless we were
absolutely certain that we would produce a quality market rental analysis for determining fair
market rental value of the newly constructed field house.
Urban Real Estate Research will undertake a market rental analysis under the requirements and
guidelines established by the Code of Professional Ethics of the Appraisal Institute and the
Uniform Standards of Professional Appraisal Practice.
Upon receiving your authorization to proceed, we will complete the assignment by June 10, 2016.
A preliminary draft report will be sent to you for review. We consider the client and his attorney's
review of our market rental analysis to be an important element in the real estate appraisal process.
At that time we will be very happy to meet with you to discuss our findings. Our final market
rental analysis will be prepared in triplicate.
We have successfully completed appraisals on a variety of properties throughout the United States.
Please visit our company website at www.urbanreal.com for information about our firm. The first
section entitled "Company Portrait" provides a brief synopsis of our company's activity in the
appraisal field. The last section provides profiles of Urban Real Estate Research's appraisers. You
will notice that all have undergraduate degrees and many have post graduate degrees in related
fields. Three appraisers have MAI designations and four are State Certified. The other sections
discuss specific areas of our expertise.
Mr. Dan Klaff
Applegate & Thorne -Thomsen
May 26, 2016
Page Two
Our fee for the market rental analysis will be $3,000. The fee is due upon completion of assignments
and delivery of the reports. A charge of 1.5% per month on the outstanding invoice balance shall be
added to any balance due past 60 days.
It is necessary for Urban Real Estate Research, Inc. to have a signed authorization to complete this
assignment. Please read carefully the terms of this contract and if these terms are agreeable to you,
kindly acknowledge your acceptance by signing this contract, thereby giving us the authority to
proceed with the assignment.
We look forward to assisting you in this matter.
Sincerely,
Arthur J. Murphy III, JD
Certified General Appraiser