HomeMy WebLinkAbout1990-357
. ,
.:
1 RESOLUTION NO. 7/:)..3:r7
2 RESOLUTION OF THE CITY OF SAN BERNARDINO AUTHORIZING THE EXECUTION OF AN
AGREEMENT WITH CHARLES R. WILSON & ASSOCIATES, INC. FOR PROPERTY APPRAISAL
3 SERVICES FOR THE VERDEMONT AREA COMMUNITY FACILITIES DISTRICT, ASSESSMENT
DISTRICT NO. 995.
4
5
6
7
8
9
10
11
12
13
14
BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
BERNARDINO AS FOLLOWS:
SECTION 1. The Mayor is hereby authorized and directed to execute
on beha 1f
of said City an Agreement for property Appraisal Services with
Charles R. Wilson & Associates, Inc. for the Verdemont Area Community
Facilities District, Assessment District No. 995, a copy of which is attached
hereto marked Exhibit "A," and in corporated herein by reference as fully as
though set forth at length.
SECTION 2.
This resolution is rescinded if the parties to the
Agreement for Appraisal Services fail to execute it within sixty (60) days of
15 the passage of this resolution.
16 I I I
17 III
18 I I I
19 I I I
20 I I I
21 I I I
22 III
23 III
24 III
25 III
26 I I I
27
28 8-08-90
. .
.
IFsotUTl 0\ AUTH. EXEC. or AGMT. AD 995
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
I HEREBY CERTIFY that the foregoing resolution was duly adopted by the
City of San Bernardino at
t1a4ut-
!
a 7de,./
/
, 1 990, by the
Ma.yor
and Common Council of the
meeting thereof, held on the
..zot,( day of
The foregoing resolution is hereby approved this
following vote, to wit:
tk4J.ti-{
I
. 1990.
Approved as to
form and legal content:
JAMES F. PENMAN,
City Attorney
By: 0.-..
2./~~,
28 08-08-90
2
~ ~
i . .'
~, 1.(.-(:-1\ j i ,/', \lJl-';L/l L(-<y--
lty Clerk tl
..23/(/
-~-
day of
-,
~*C//"/
~or Pro Tern ~
lty of San Bernardino
~
CHARLES R. WILSON & ASSOCIATES, INC.
Real Estate Appraiser and Consultants
595 EAST COLORADO BOULEVARD, SUITE 518
PASADENA, CALIFORNIA 91101
Charles Ray Wilson, MAl
Mark B. Stephens, Appraiser
(818) 792-2107
Telecopier (818) 792-4180
August 3, 1990
Mr. Roger E. Hardgrave
Director of Public Works
CITY OF SAN BERNARDINO
300 North 'D'Street
San Bernardino, California 92418
Dear Mr. Hardgrave:
It was a pleasure making your acquaintance by telephone and per your request, the following
agreement has been produced to outline the nature of the work to be performed.
PARTIES:
CITY OF SAN BERNARDINO, ("EMPLOYER"), having a place of business at 300 'D'
Street, San Bernardino, California 92418, and CHARLES R. WILSON and ASSOCIATES.
INC., having a place of business at 595 East Colorado Boulevard, Suite 518, Pasadena,
California 91101-2039. ("APPRAISER")
IDENTIFICATION OF PROPERTY:
The appraisal assignment will include the following seven (7) properties in the Verdemont
Area Mello-Roos District described as follows:
Parcel
Number
1
2
3
4
5
6
7
Tract
Number Developer
14404 ......................... Concordia Homes
14193 ......................... Monnig Development, Inc.
14250 & 14261 .................. Monnig Development, Inc. c~
13530 ......................... McClellan Development
13307 ......................... McClellan Development
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Brimar Industries
12756 & 13172 .................. Brimar Industries
,~:'>
--,<
, .
,-..'
Cl
PURPOSE OF THE APPRAISAL:
The purpose of the assignment will be for Mello-Roos Bond financing. Any other use of this
appraisal would be invalid.
Member of Valuation Network Inc. . Offices in Major Cities throughout the United States
1=.)CHIB("i A
" .'
STANDARDS OF PERFORMANCE:
APPRAISER agrees to exercise independent judgement and to complete the appraisal
assignment in conformity with the requirements of the Code of Ethics and Standards of
Professional Practice of the American Institute of Real Estate Appraisers, of which Charles
R. Wilson holds the MAl designation, however, no warranties, guarantees or assurances of
any kind are expressed or implied and APPRAISERS assume no liability in connection with
this appraisal. APPRAISERS agree to take no other employment inconsistent with this
assignment.
The data gathered in the appraisal process (except data furnished by EMPLOYER) and the
appraisal report prepared pursuant to this agreement will remain the property of
APPRAISERS. No one other than the EMPLOYER may rely upon or utilize the appraisal
report without APPRAISER'S expressed written consent. EMPLOYER agrees that the
appraisal report to be prepared pursuant to this agreement shall be privileged and shall not
be quoted or referred to in any report or financial statement of EMPLOYER or in any
documents filed with a governmental agency without the prior written consent of the
APPRAISER.
COMPLETION DATE:
The following interns are needed in order to complete this assignment:
1) A title report for each of the seven development sites;
2) Purchase agreements/escrow instructions for each of the development sites;
3) A copy of the soils report for each of the seven sites;
4) Tentative or final tract maps for each of the seven sites;
5) Itemized site construction costs from each of the developers including costs for site
development and infrastructure, as well as the estimated construction time necessary
to bring the sites to a finished lot condition;
6) A summary of the proposed single family developments to be constructed on each
site including estimated sellout periods, home sizes, and proforma pricing;
7) A copy of any covenants, conditions and restrictions (if applicable), which
encumber the sites; and,
8) A copy of the Department of Real Estate Public Report (white or pink).
CHARLES R. WILSON & ASSOCIATES, INC.
PASADENA. CALIFORNIA
1:"11.+4-\/3 II A
.
COMPLETION DATE (continued)
The individual developers have most of this information. In order to expedite the appraisal
process, I would appreciate your assistance in obtaining this information from the individual
developers. Based on the timely receipt of this information, an appraisal completion date
of September 17. 1990 is anticipated.
COPIES OF REPORT:
APPRAISER agrees to provide EMPLOYER with ten (10) copies of the appraisal report,
together with together with artwork (maps), photographs and illustrations.
FEES & EXPENSES:
EMPLOYER agrees to pay APPRAISER, as compensation for his professional services, a
maximum fee of $20,000, payable upon delivery of the reports. Please return the original
of this contract and keep the copy for your records. This amount includes reimbursement
for all out of pocket expenses.
Should, for any reason, the employer wish to terminate the assignment, the employer will
be billed for time and expenses incurred. Should the date of value be changed for any
reason whatsoever, resulting in the need for updating the valuation expressed, EMPLOYER
agrees to compensate for the work involved based upon his hourly rate in effect at that time.
DELINOUENCY CHARGE:
If any payment due under this agreement is not paid when due, such payment shall bear
interest at the rate if 18% per annum. In the event of non-payment, EMPLOYER shall pay
all expenses of collection, including but not limited to, reasonable court costs and attorney's
fees. EMPLOYER agrees that the venue of any legal action shall be Pasadena, California,
and that this agreement shall be governed by the laws of the State of California.
TESTIMONY OR COURT ATTENDANCE:
The above fee does not include testimony or attendance at any court or administrative
proceeding or hearing. In event EMPLOYER or his agent or attorney, or the court requests
such judicial or administrative hearing attendance, EMPLOYER agrees to compensate
APPRAISERS for services in connection with time spent in updating the appraisal or for
any other reason, preparing for such hearing or trial, judicial or administrative hearing
appearances, related travel time to and from APPRAISER'S office to the place of such
conference or hearing and time spent waiting to testify at APPRAISER'S hourly rate in
effect at that time.
CHARLES R. WILSON & ASSOCIATES, INC.
PASADENA, CALIFORNIA
E::'l<+!IBIT A"
~u
"
ASSUMPTIONS & LIMITING CONDITIONS
Standards Rule ("S.R. ")2-3 of the "Standards of Professional Practice" of the American Institute of Real Estate
Appraisers requires the appraiser to "clearly and accurately disclose any extraordinary assumption or limiting
condition that directly affects an appraisal analysis, opinion, or conclusion." In compliance with S.R. 2-3, and
to assist the reader in interpreting this report, such assumptions and limiting conditions are set forth as
follows:
1. The date of value to which the conclusions and opinions expressed in this report apply is set forth in
the letter of transmittal. Further, the dollar amount of any value opinion rendered in this report is
based upon the purchasing power of the American dollar existing on that date.
2. The appraiser assumes no responsibility for economic or physical factors which may affect the
opinions in the report which occur after the date of the letter transmitting the report.
3. Forecasts of anticipated revenue and expenses were based on our analysis of market trends, economic
conditions, and historical operating results of the property. Such forecasts are dependent on
assumptions as to future economic, social and political conditions, as well as market related activity.
They represent our opinion of current investor attributes and motivations applicable to the class of
property appraised, and no warranty or representation that these forecasts will materialize is implied.
4. The information furnished by others is believed to be reliable. However, no warranty is given for its
accuracy.
5. No opinion as to title is rendered. Data related to ownership and legal description was obtained from
public records and is considered reliable. Title is assumed to be marketable and free and clear of all
liens, encumbrances, easements and restrictions except those specifically discussed in the report. The
property is appraised assuming it will be under responsible ownership and competent management,
and available for its highest and best use.
6. The appraiser reserves the right to make such adjustments to the analyses, opinions and conclusions
set forth in this report as may be required by consideration of additional data or more reliable data
that may become available.
7. The appraiser assumes no responsibility for hidden or unapparent conditions of the property, subsoil,
or structures that render it more or less valuable.
8. The property is appraised assuming that all applicable zoning and use regulations and restrictions have
been complied with, unless otherwise stated.
9. The property is appraised assuming that all required licenses, certificates of occupancy, consents, or
other legislative or administrative authority from any local, state, or national government or private
entity or organization have been, or can be, obtained or renewed for any use on which the value
estimate contained in this report is based, unless otherwise stated.
10. No engineering survey has been made by the appraiser. Except as specifically stated, data relative to
size and area was taken from sources considered reliable, and no encroachment of real property
improvements is considered to exist.
11. No soil tests or environmental studies were available. It is assumed that there are no sub-surface,
toxic waste or building material hazards in the property that would adversely affect its existing or
potential use.
12. Unless specifically stated, this appraisal does not take into consideration the possibility of the
existence of asbestos, PCB transformers, or other toxic, hazardous, or contaminated substances and/or
underground storage tanks (hazardous material), or the cost of encapsulation or removing thereof.
r V
1
.,
.
DISCLOSURE:
Neither all nor any part of the contents of the appraisal report, the identity of the appraiser
(s), reference to the American Institute of Real Estate Appraisers, or the MAl designation
shall be disseminated to the public through advertising or sales media, or other public means
of communication.
Employer:
CITY OF SAN BERNARDINO
Authorized
By:
Attest:
Date:
Appraiser:
(2~'4~~~
City erk
('~ k'aLI u2-'1~
Charles Ray Wilson, Md.I
CHARLES R. WILSON & ASSOCIATES, INC.
Approved as to form
and legal content:
James F. Penman
City Attorney
CHARLES R. WILSON & ASSOCIATES, INC.
PASADENA, CALIFORNIA
t-XHI@IT A /e'l
-,.
Should client have concern over the existence of such substances on the property, we consider it
imperative for you to retain the services of a qualified, independent engineer or contractor to
determine the existence and extent of any hazardous materials, as well as the cost associated with any
required or desirable treatment or removal thereof.
13. No opinion is expressed as to the value of subsurface oil, gas or mineral rights or whether the
property is subject to surface entry for the exploration or removal of such materials except as is
expressly stated.
14. Maps, plats and exhibits included in this report are for illustration only as an aid in visualizing matters
discussed within the report. They should not be considered as surveys or relied upon for any other
purpose, nor should they be removed from, reproduced, or used apart from this report.
15. No opinion is intended to be expressed for matters which require legal expertise or specialized
investigation or knowledge beyond that customarily employed by real estate appraisers.
16. The distribution, if any, of the total valuation in this report between land and improvements applies
only under the stated program of utilization. The separate allocations for land and buildings must
not be used in conjunction with any other appraisal and are invalid if so used.
17. That possession of this report, or a copy of it, does not carry with it the right of publication. It may
not be used for any purpose by any person other than the party to whom it is addressed without the
written consent of the appraiser, and in any event only with proper written qualification and only in
its entirety.
18. Charles R. Wilson & Associates is familiar with the provisions of Federal Home Loan Bank Office
of Examinations and Supervision Memorandum R-41c and has applied its fullest understanding of this
memorandum in this report. However, in the absence of official explanation and interpretations of
R-41c, our interpretations may not be identical to those issued by the FHLBB.
19. Because of the possibility of varying interpretations of R-4lc, Charles R. Wilson & Associates, Inc.
responsibility for the resolution of questions concerning the applicability of R-41c to this engagement
is limited to our original client, and a period not to exceed 15 days from the date our report is
delivered.
20. Testimony or attendance in court or at any other hearing is not required by reason of rendering this
appraisal, unless such arrangements are made a reasonable time in advance relative to such additional
employment.
21. Disclosure of the contents of this appraisal report is governed by the By-Laws and regulations of the
American Institute of Real Estate Appraisers of the National Association of Realtors.
Neither all nor any part of the contents of this report (especially any conclusions as to value,
the identity of the appraisers, or any reference to the American Institute of Real Estate Appraisers, or the
MAl or RM designation) shall be disseminated to the public through advertising media, public relations media,
news media, sales media, or any other public means of communication without the prior written consent and
approval of the author.
! ,; 'I
IJ