Township Council Meeting — Agenda

Standard Proposal For Appraisal & Consulting Assignments Purpose of the Appraisal - Intended Use & User of the Report: Based on electronic information conveyed by the client, it is my understanding that the purpose and intended use of the appraisals shall be to provide the client with an estimate of the Market Value in fee simple interest, of each property (real property) in connection with a pending Tax Year 2017 Tax Appeal litigation. The intended users of the reports include the client and his designated and authorized representatives, the Plaintiff Counsel, as well as the Tax Court of New Jersey. The appraisal report is not to be duplicated (in whole or in part) in any manner (including electronic) and shall not be relied upon by anyone except those noted herein without the written consent and authorization of the Hendricks Appraisal Company, LLC. Special Conditions - Assumptions: As two of the subject improvements (100 & 200 Executive Drive) were recently demolished, the appraiser shall rely upon previous inspections and other documents (public and/or municipal) which may be available in the preparation of the appraisal report. In addition to the standard contingent and limiting conditions, the appraisal report shall be prepared under the special assumption and condition that the subject property is unencumbered with any adverse environmental conditions or contamination of any kind. Estimated Time Requirement: Based on my current inventory of appraisal assignments, litigation appearances and other commitments, I estimate that forty-five (45) days from acceptance of this proposal shall be required to complete the assignment. This estimate is subject to change due to a wide array of potential delays which may be encountered, including - health (Covid-19 restrictions), delayed or restricted access to the property, or delays in obtaining confirmation regarding the market data to be employed. Nonetheless, every effort shall be made to conform with the estimated completion date. The appraiser also acknowledges that the currently scheduled exchange date is August 12, 2022 with a trial before the Tax Court of New Jersey sect for October 3, 2022. Submission of Appraisal Reports: Unless specifically requested otherwise, the appraisal reports shall be provided to the client electronically via pdf. The client shall be responsible for dissemination of

ssion of Appraisal Reports: Unless specifically requested otherwise, the appraisal reports shall be provided to the client electronically via pdf. The client shall be responsible for dissemination of the reports to the Plaintiff Counsel and the Tax Court of New Jersey. REAL ESTATE @ OG Circcancn