Appraisal Services Agreement

APPRAISAL SERVICES AGREEMENT

This Appraisal Services Agreement (Agreement) is entered into as of Effective Date: by and between Client Name: with mailing address: (hereinafter "Client"), and Appraiser Name: License No.: with business address: (hereinafter "Appraiser").

RECITALS

WHEREAS, Client requires an appraisal of certain real property for the purpose stated in the Intended Use section below; and

WHEREAS, Appraiser represents that Appraiser is duly qualified and licensed to perform real property valuation services, possesses the skill and experience necessary to perform the engagement, and maintains professional liability insurance as set forth below; and

WHEREAS, the parties desire to set forth the terms and conditions under which Appraiser will perform the appraisal services.

NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties agree as follows:

1. ENGAGEMENT; SCOPE OF WORK

1.1 Engagement. Client hereby engages Appraiser, and Appraiser accepts such engagement, to perform an appraisal of the property described in Section 2 in accordance with the terms of this Agreement. Appraiser shall exercise professional judgment and perform services in accordance with applicable professional appraisal standards.

1.2 Scope. The scope of the appraisal shall include inspection (if applicable), market research, analysis, and preparation of an appraisal report setting forth Appraiser's opinion of market value as of the Date of Value. Type of appraisal services (check all that apply): Full narrative appraisal report Summary appraisal report Desktop / Restricted use appraisal

1.3 Deliverables. Appraiser will deliver to Client the appraisal report in the form described: . The report will state any extraordinary assumptions and limiting conditions relied upon.

2. PROPERTY DESCRIPTION; INSPECTION; DATE OF VALUE

2.1 Property. The real property to be appraised is described as:

2.2 Inspection. Appraiser shall perform a physical inspection of the property on or about: unless the parties agree inspection is not required. Client shall provide Appraiser reasonable access to the property and to relevant documents.

2.3 Date of Value. The Date of Value for the appraisal shall be:

3. FEES; PAYMENT; EXPENSES

3.1 Fees. Client shall pay Appraiser a fee of for the services described in this Agreement. Additional services outside the agreed scope shall be billed at the hourly rate of per hour.

3.2 Payment Terms. An initial retainer of is due upon execution of this Agreement. Final payment is due within days of delivery of the final report. Late payments shall accrue interest at the rate of on outstanding balances.

4. DELIVERY; USE; THIRD-PARTY RELIANCE

4.1 Delivery. Appraiser will deliver the completed report to Client within calendar days from receipt of all required information and access. Delivery shall be by the method set forth in Section 1.3 unless otherwise agreed in writing.

4.2 Intended Use and Third-Party Reliance. The appraisal report is prepared solely for the benefit and use of the Client for the stated purpose: Unless expressly agreed in writing, third parties shall not rely on the appraisal report. If reliance by a third party is permitted, Client shall identify such parties and acceptable reliance will be set forth in an Addendum.

5. CONFIDENTIALITY

5.1 Confidential Information. Appraiser and Client each acknowledge that they may receive confidential information in connection with this Agreement. Each party agrees to maintain confidentiality and not disclose such information except as required by law or with the other party's written consent.

5.2 Exceptions. Confidentiality obligations do not apply to information that is, at the time of disclosure, publicly available or subsequently becomes public through no breach by the receiving party.

6. WARRANTY; DISCLAIMERS; LIMITATION OF LIABILITY

6.1 Standard of Performance. Appraiser warrants that Appraiser will perform services in a professional manner consistent with generally accepted appraisal practices. Except as expressly provided, Appraiser makes no other warranty, express or implied.

6.2 Limitation of Liability. Except for liability resulting from Appraiser's willful misconduct or gross negligence, Appraiser's total liability arising out of or related to this Agreement shall not exceed the greater of the total fees paid under this Agreement or . In no event shall Appraiser be liable for consequential, incidental, punitive or special damages.

7. INDEMNIFICATION

Client agrees to indemnify, defend and hold harmless Appraiser and its employees and agents from and against any claims, liabilities, costs and expenses (including reasonable attorneys' fees) arising out of Client's provision of incorrect information, misuse of the appraisal report, or reliance by an unauthorized third party.

8. TERMINATION

8.1 Either party may terminate this Agreement upon ten (10) days' written notice to the other party if the other party materially breaches this Agreement and fails to cure within the notice period. Termination does not relieve Client's obligation to pay for services performed and expenses incurred through the effective date of termination.

9. INSURANCE; LICENSING

Appraiser represents that Appraiser holds all licenses and certifications required to perform the services and maintains professional liability insurance in commercially reasonable amounts. Appraiser shall provide proof of such insurance upon Client's written request.

10. RECORDS RETENTION

Appraiser will retain workfiles and supporting documentation for a period of unless otherwise required by law. Access to underlying workpapers is at Appraiser's discretion and may be provided only upon mutual agreement and subject to confidentiality protections.

11. NOTICES

All notices required or permitted under this Agreement shall be in writing and delivered to the addresses below by hand delivery, nationally recognized overnight carrier, or certified mail (return receipt requested), and shall be effective upon receipt.

12. DISPUTE RESOLUTION; ATTORNEYS' FEES

The parties shall first attempt to resolve disputes arising from this Agreement by good faith negotiation. If the parties cannot resolve the dispute within thirty (30) days, either party may pursue litigation in the courts identified in Section 15. The prevailing party in any action to enforce this Agreement shall be entitled to recover reasonable attorneys' fees and costs.

13. AMENDMENTS; WAIVER

No amendment or waiver of any provision of this Agreement shall be effective unless in writing and signed by both parties. No failure or delay in exercising any right shall operate as a waiver.

14. COUNTERPARTS; EXECUTION

This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. Signatures transmitted by electronic means shall be binding.

15. GOVERNING LAW; SEVERABILITY; ENTIRE AGREEMENT

15.1 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of , without regard to conflict of law principles.

15.2 Severability. If any provision of this Agreement is declared invalid or unenforceable, that provision shall be severed and the remaining provisions shall remain in full force and effect.

15.3 Entire Agreement. This Agreement, including any attachments or addenda expressly incorporated herein, constitutes the entire agreement between the parties with respect to the subject matter and supersedes all prior oral or written agreements.

16. MISCELLANEOUS PROVISIONS

16.1 Assignment. Neither party may assign its rights or delegate its duties under this Agreement without the prior written consent of the other party, except that Appraiser may assign to an affiliate or in connection with a sale of substantially all its assets.

16.2 Compliance with Law. Each party shall comply with applicable laws, rules and regulations in performing its obligations under this Agreement.

ADDITIONAL TERMS / EXHIBITS

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