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1957-01CONTRACT BETWEEN THE CITY OF CLERMONT AND HUNNICUTT AND ASSOCIATES THIS CONTRACT, made and entered into this 23rd day of August, 1957, by and between the CITY OF CLERMONT, a municipal cor- poration, of the County of Lake and the State of Florida, hereinafter referred to as "CITY" and WARREN P. HUNNICUTT, trading and doing busi- ness as HUNNICUTT AND ASSOCIATES, of the County of Pinellas and the State of Florida, hereinafter referred to as "HUNNICUTT". WITNESSETH: That for and in consideration of mutual promises and agreements herein contained, the CITY hires, employs and con- tracts with HUNNICUTT for a complete appraisal of all taxable real property, including homesteads, within the CITY OF CLERMONT, all upon the following terms and conditions hereby agreed upon, to wit: WORK TO BE DONE BY HUNNICUTT HUNNICUTT shall, to the best of his ability, and in accordance with modern established tax appraisal principles, methods and systems, appraise all taxable real property, including homesteads, located within the corporate limits of the CITY for the information, guidance and use of the CITY TAX ASSESSOR in making up the assessment roll for the year 1958, as provided by law or CITY taxation. The appraisal shall comprise the following: 1. APPRAISAL OF REAL PROPERTY REAL PROPERTY RECORD FORMS: Appropriate real property record forms shall be prepared and printed. These forms shall be simply de- signed, suitable to the requirements of the area, our appraisers and the suitability of appraisal records to the CITY TAX ASSESSOR'S office system. A separate form shall be used for each parcel of real estate in the CITY. In conformity. with sound appraisal and assessment practices, land and buildings shall be evaluated separately. Land: In the appraisal of land, the market or comparison approach shall be the controlling approach or yardstick used in measuring value. Sales data of recent years shall be assembled and carefully studied and analyzed; also considered shall be such factors as location, accessi- bility, utility, topography, zoning, transportation facilities, corner, shopping areas, depth or area and many others. Residential land other than undeveloped tracts of acreage will be appraised on a front foot basis, with basic units of value ascribed to the various blocks. In the appraisal of commercial land, the front foot also repre- sents the unit or standard of measurement applied. Industrial land shall be evaluated on a square foot or per acre basis, depending upon existing conditions. In the appraisal of both commercial and industrial land, the highest and best use of the same and the value resulting there- from shall be considered. Land assessment maps shall be prepared showing the size of each parcel or amount of acreage of the property, front foot, square root or per acre value, depth factor and other pertinent data. IMPROVEMENTS: In the main, buildings and other improvements will be appraised by the depreciated replacement method. Summation values will be carefully checked and compared with actual sales or market data of similar properties. In the case of buildings in the business district or other loca- tions which are largely dependent upon income or utility for their value, the income method shall be applied, but not to the exclusion of other value approache s. In the use of this method, income and ex- pense data, gross volumes of business and similar information shall be compiled and analyzed. Measurements of each building having remaining utility or value shall be obtained, and in the graph space provided on each property record card, a perimeter sketch of each building on the parcel will be drawn and the dimensions of the same noted. The type of construction shall be recorded on the card by com- ponent parts, such as sub-structure, framing, exterior walls, rooms, plumbing, heating, electricity, special equipment and others; also re- corded shall be the basic unit of cost, area or volume, depreciation and/or remaining condition, and the valuation. Each and every building which can be standardized according to specifications and quality of materials and workmanship shall be classified, and those not susceptible to classification will be in- spected and rated by structural engineers. Building depreciation schedules for each class of structure shall be prepared following a careful study and analysis of life expectancies -2- of various types of construction in the area. A thorough study and analysis of materials and labor prices pre- vailing in the CLERMONT area shall be made to determine with a high degree of accuracy the current building cost index. Following recom- mendationof our staff of appraisers, the CITY shall then determine the level of valuation to be used for the new CITY OF CLERMONT assess- ment roll. Throughout the entire project the most modern appraisal systems and methods developed by our firm shall be used. 2. GENERAL LAWS TO BE OBSERVED: All Federal, State and local laws, codes, ordinances and regulations which affect the project or those employed in the work, shall be strictly adhered to. PUBLIC RELATIONS: Every reasonable opportunity shall be used during the progress of the work to acquaint the public with it; the advantages accruing to the CITY by reason of a complete revaluation of all taxable real property, as well as the methods used in order to secure equalization of valuation. PUBLIC INSPECTION OF APPRAISAL: HUNNICUTT shall hold open for public inspection the appraisal records of all property appraised within the CITY for a period of at least three days immediately follow- ing the completion of the revaluation, during which time all complaints shall be carerully rechecked. ASSISTANCE: HUNNICUTT shall have one or more representatives present at the meeting of the Equalization Board for the year 1958, and until all business arising therefrom has been completed. DEFENSE: HUNNICUTT agrees to fUlly cooperate with the CITY and its attorneys in the defense of any and all suits at law or in equity, arising out of or resulting from any appraisal made by HUNNICUTT. PRICE TO BE PAID HUNNICUTT BY THE CITY: The CITY agrees to pay HUNNICUTT for his services under this contract the total sum of SEVEN THOUSAND, FIVE HUNDRED ($7,500.00) DOLLARS, which shall include all salaries of men working on the project, supervision, travel and expense allowances, all Federal and State Taxes, materials, printing, and all other expenses incidental to the appraisal of all taxable real prop- erty within the CITY. TERMS OF PAYMENT: The CITY agrees to pay HUNNICUTT at his office, -3- 41 Fourth street, South, st. Petersburg, Florida, monthly payments on submission of an accurate statement of work completed during the billing period, less ten (10%) per cent of any and all said amounts which shall be withheld by the CITY until completion of the project, all of such payments not to exceed ninety (90%) per cent of the contract price as herein set forth. It is further agreed and understood that the first payment under this contract shall not be due until November 1, 1957. WHAT THE CITY SHALL RECEIVE: The CITY shall receive all data, maps, property record cards, and. all other elements composing the appraisal which shall become the property of the CITY in perpetuity. OFFICE SPACE: The CITY shall furnish adequate office space, pre- ferably in the City Hall for the employees of HUNNICUTT without charge. TIME OF DELIVERY OF APPRAISAL AND ACCEPTANCE BY THE CITY: HUNNI- CUTT shall make available to the CITY TAX ASSESSOR the appraisals here- under in sufficient time for preparation of the 1958 assessment roll. It is understood and agreed the appraisal work shall be considered complete upon acceptance of the 1958 assessment roll by resolution of the City Council of CLERMONT, FLORIDA. IN TESTIMONY WHEREOF, the CITY has caused this contract to be exe- cuted by its duly authorized officials, and its corporate seal to be hereto affixed all under authority of a resolution duly passed 8/6/57 1957; and HUNNICUTT has executed this contract and affixed his seal: all as or the date and year first above written. Attest: CITY OF CLERMONT By: Mayor Approved as to form: City ttorney WARREN P. HUNNICUTT, trading and doing business as HUNNICUTT AND ASSOCIATES BY: (Seal) Warren P. Hunnicutt