2010.04.30 CC Agenda Packet
AGENDA
Edmonds City Council
Council Chambers, Public Safety Complex
250 5th Ave. North, Edmonds
______________________________________________________________
APRIL 30, 2010
SPECIAL MEETING
9:00 a.m. - Executive session regarding negotiation for the purchase of real estate.
9:45 a.m. - Call to Order and Flag Salute
1. Approval of Agenda
2. Approval of Consent Agenda Items
A. Roll Call
3. Audience Comments (3 minute limit per person)*
*Regarding matters not listed on the Agenda as Closed record Review or as Public Hearings.
4. (15 Minutes)Potential action regarding the purchase of real estate which may include approval of a
purchase and sale agreement.
5. AM-3041
(30 Minutes)
Skippers property Purchase and Sale Agreement - due diligence activities.
6. (5 Minutes)Mayor's Comments
7. (15 Minutes)Council Comments
ADJOURN
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AM-3041 5.
Skippers Property Purchase and Sale Agreement - Due Diligence Activities
Edmonds City Council Meeting
Date:04/30/2010
Submitted By:Stephen Clifton
Submitted For:City Council;Time:30 Minutes
Department:Community Services Type:Action
Review Committee:
Committee Action:
Information
Subject Title
Skippers property Purchase and Sale Agreement - due diligence activities.
Recommendation from Mayor and Staff
Previous Council Action
On April 14, 2010, the City Council voted 5-2 to approve a purchase and sale agreement for $1.1
million for the Skippers property with a $50,000 earnest money to be delivered no later than 24
days after mutual acceptance; with a provision for a 30 day feasibility study; with a provision for
an additional 30 day feasibility study at the cost of $10,000 to be applied to the purchase price if
the property is sold; with the possibility of an additional 30 day feasibility period for an additional
$10,000 to be credited to the purchase price if the property is purchased.
On April 14, 2010, the City Council voted 5-2 to allow for an appropriation from some source of
$50,000 - $100,000 to cover the costs of these studies, subject to Council approval of individual of
contracts at a later date.
Narrative
See attached April 22, 2010 staff report.
Fiscal Impact
Attachments
Link: Skippers Property Purchase and Sale Agreement - Due Dilligence Activities Staff Report
Link: Attachment 1 - Professional Services Agreement - Skippers Property Appraisal
Link: Attchment 1A - Appraisal - Engagement Contract
Link: Attachment 2 - Level 1 Env Analysis - HWA Professional Services Agreement
Form Routing/Status
Route Seq Inbox Approved By Date Status
1 City Clerk Sandy Chase 04/29/2010 02:49 PM APRV
2 Mayor Gary Haakenson 04/29/2010 02:59 PM APRV
3 Final Approval Sandy Chase 04/29/2010 03:01 PM APRV
Form Started By: Stephen Started On: 04/29/2010 01:15
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Form Started By: Stephen
Clifton
Started On: 04/29/2010 01:15
PM
Final Approval Date: 04/29/2010
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Date: April 22, 2010
To: Mayor Haakenson and City Council members
From: Stephen Clifton, AICP
Community Services and Economic Development Director
Subject: Skippers Property Purchase and Sale Agreement – Due Diligence
Activities
City of Edmonds
Community Services Department
Economic Development Department
On April 14, 2010, the Edmonds City Council voted 5-2 to execute a purchase and sale
agreement related to the potential purchase of the Skippers property located at 102 Main
Street, Edmonds, Washington. Contained within the purchase and sale agreement are three
potential feasibility periods, totaling up to 90 days. As a part of conducting due diligence
activities during this overall timeframe, the following actions/steps are proposed:
1. Appraisal (City Council Action Item) – The City Council will need to authorize the
Mayor to execute a contract to perform an appraisal of subject property (Attachment
1 and 1A). The amount of the base appraisal contract is $4,000. NOTE: Because
the appraisal may also be used in the course of state or federal grant applications,
the appraisal will be presented in accord with state and federal appraisal standards.
Additionally, a peer review will also need to be performed to address potential grant
requirements. The estimated amount to conduct a peer review is $1,500.
2. Level or Phase 1 Environmental Site Assessment (ESA) (City Council Action Item) –
The City Council will need to authorize the Mayor to execute a contract to perform a
Phase 1 ESA of subject property (Attachment 2). The amount of the contract is
$2,200. The primary objective of a Phase I ESA is to evaluate the property for
recognized environmental conditions (RECs). The term recognized environmental
conditions means the presence or likely presence of any hazardous substances or
petroleum products under conditions that indicate an existing or past release, or
threat of a release of any hazardous substances or petroleum products into
structures, soil, ground water, or surface water on the property.
Actual sampling of soil, air, groundwater and/or building materials is typically not
conducted during a Phase 1 ESA. The Phase I ESA is generally considered the first
step in the process of environmental due diligence, and includes environmental and
historical data reviews, visual site examination, and owner/operator interviews, in
City of Edmonds Community Services
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compliance with ASTM standard E-1527-05. Parties typically seeking Phase I ESAs
include lending institutions or their assigns, parties seeking protection under CERCLA
innocent landowner, bona fide prospective purchaser, or contiguous property owner
defense, or potential EPA Brownfields grant recipients.
3. Feasibility Study – As part of the due diligence associated with the purchase of this
property, the City Council has indicated it may want to: (1) conduct a public process
to evaluate potential uses for subject property, and (2) better understand the costs
associated with the development of the property for public or public/private uses.
Due to the short purchase and sale agreement feasibility time frame(s), the following
will require the assistance of a consultant.
a. Feasibility study by consultant regarding potential uses and development of
subject site:
i. Determine possible uses:
1. Assist in/conduct public process.
b. Compare the costs and benefits of:
i. City development for:
1. purely public use(s) by city;
2. mixed public use(s) (port and city);
3. primary city use(s) with rental of a portion of the site to a
private entity for cash flow purposes, until space is needed for
public use.
ii. Public/Private development.
1. For Example: Take proposals to construct improvements
under strict limitations, providing public uses (monumental
structure, visitors bureau, gateway etc.). Under the
Washington State Constitution, the foundation needs to be
carefully established for a mixed use purchase.
Under these scenarios, the City of Edmonds would be seeking a real estate/land use
advisor to evaluate the potential redevelopment of a 0.37 acre parcel located at a
key intersection in downtown Edmonds, and recommend a set of roles and actions
for the City to take in the redevelopment process. While this is a relatively small
parcel, it occupies a gateway position between Edmond’s Downtown and
Waterfront. Therefore, the property is highly visible and its development can either
significantly contribute to or detract from the City’s objectives. Potential goals of this
engagement could be to:
a. Evaluate the types and scale of uses likely to be economically viable on the
property. The range to be considered could include a variety of public or civic
uses (community center, City offices/tourism center, open space, etc.) along
with housing, office, retail/entertainment, and institutional uses.
b. Recommend whether the City should purchase the property or direct or
incentivize redevelopment of the property by other parties willing to partner
to achieve the City’s desired development solution.
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c. Define potential tools, incentives, and policies that the City might employ to
encourage desirable development at the site, which could in turn, be
applicable to other properties, while diminishing the number of incompatible
uses.
NOTE: Timing of a feasibility process/study is under the control of the City Council
and can either be conducted now, in whole or in part, or deferred to a later date.
Based on communications with five firms with expertise in conducting the above
referenced feasibility studies, the estimated cost of preparing a feasibility study
ranges from $25,000 to $50,000. Typically, the more complex the study, the higher
the price. A higher cost study usually allows consultants to conduct a more thorough
analysis and further refine assumptions, thus improving the degree of confidence in
the information.
4. Special counsel letter of engagement – These services are recommended to assist
the council as it considers financing options and costs (and potential future
restrictions on use or ability to resell if economic circumstances require) as well as
what the public process and eventual council decision must include if the council
wants to keep the option of development via a public/public or public/private
partnership. The latter issue is what could drive the overall due diligence cost
upwards towards $100,000. The council can decide early on to pass on that option
or to defer it to a later date. The City’s Attorney recommends the use of the City’s
normal bond counsel for several reasons.
a. The first is the need for bond counsel for any sort of borrowing—whether
from the bank, inter fund loans, or actual bonds. It’s all public debt.
b. The second is that, despite their higher rate, it would be more efficient to use
Foster Pepper—while Ogden Murphy Wallace has attorneys who can provide
the council with information regarding the issues on public purchase and
resale, Foster Pepper does this every day and can help answer questions
rather than have Ogden Murphy Wallace do research and provide a report.
c. Odgen Murphy Wallace has indicated that Foster Pepper’s real estate group is
handling the transaction on behalf of Cascade Bank. The City Attorney would
like to discuss whether the city should waive the conflict and use Foster
Pepper with a internal wall requirement; assert the conflict, disqualify Foster
from representing Cascade bank in the transaction and seek separate
counsel; or waive the conflict as to Foster and seek separate counsel. The
City Attorney is working to find alternative bond counsel (if needed).
5. City Council Direction – The Mayor, City staff and the City Attorney are requesting
City Council give direction on a public process. At one end of the spectrum, if a
majority of the City Council wants to go for a straight park use, the process will be
relatively straight forward given the City’s current Comprehensive Plan provisions. If
there is a desire to keep the door open on some form of partnership to assist in
funding development or create a mix of use on the site, the feasibility and bond
counsel processes will be more complex.
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PROFESSIONAL SERVICES
AGREEMENT
THIS AGREEMENT, made and entered into between the City of Edmonds,
hereinafter referred to as the "City", and Lamb Hanson Lamb, hereinafter referred to as
the "Consultant";
WHEREAS, the City desires to engage the professional services and assistance
of a consulting firm to provide consulting services with respect to a Full Narrative
Property Appraisal Report for an an approximately .37 acre property located at 102 Main
Street, Edmonds WA 98020-3132 .
NOW, THEREFORE, in consideration of mutual benefits accruing, it is agreed
by and between the parties hereto as follows:
1. Scope of work. The scope of work shall include all services and material
necessary to complete a USPAP Compliant Full Narrative Property Appraisal for the
above mentioned property.
2. Payments. The Consultant shall be paid by the City for completed work
for services rendered under this Agreement as provided hereinafter. Such payment shall
be full compensation for work performed or services rendered and for all labor, materials,
supplies, equipment and incidentals necessary to complete the work.
A. Payment for work accomplished under the terms of this Agreement
shall be a fixed lump sum amount of $4,000. If Consultant defaults and fails to deliver a
final product satisfactory to the City, no payment shall be made. If the agreement is
terminated at the convenience of the owner, part payment equivalent to the percentage of
work done shall be paid to the Consultant.
B. All vouchers shall be submitted by the Consultant to the City for
payment pursuant to the terms of this Agreement. The City shall pay the appropriate
amount to the Consultant. Billings shall be reviewed in conjuction with the City’s
warrant process. Payment will be made in the next regular payment cycle.
C. The costs records and accounts pertaining to this Agreement are to be
kept available for inspection by representatives of the City for a period of three (3) years
after final payment. Copies shall be made available upon request.
3. Ownership and use of documents. All research, tests, surveys,
preliminary data and any and all other work product prepared or gathered by the
Consultant in preparation for the services rendered by the Consultant under this
Agreement shall be and are the property of the Consultant and shall not be considered
public records, provided, however, that:
A. All final reports, presentations and testimony prepared by the
Consultant shall become the property of the City upon their presentation to and
acceptance by the City and shall at that date become public records.
B. The City shall have the right, upon reasonable request, to inspect,
review and, subject to the approval of the Consultant, copy any work product.
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Professional Services Agreement appraisal 4.21.101.doc 2
C. In the event that the Consultant shall default on this Agreement, or in
the event that this contract shall be terminated prior to its completion as herein provided,
the work product of the Consultant, along with a summary of work done to date of
default or termination, shall become the property of the City and tender of the work
product and summary shall be a prerequisite to final payment under this contract. The
summary of work done shall be prepared at no additional cost.
4. Time of performance. The Consultant shall perform the work
authorized by this Agreement to be delivered to the City of Edmonds no later than three
weeks following the signing of the contract (May 17, 2010).
5. Hold harmless agreement. In performing the work under this contract,
Consultant agrees to protect, indemnify and save the City harmless from and against any
and all injury or damage to the City or its property, and also from and against all claims,
demands, and cause of action of every kind and character arising directly or indirectly, or
in any way incident to, in connection with, or arising out of work performed under the
terms hereof, caused by the fault of the Consultant, its agent, employees, representatives
or subcontractors.
Consultant specifically promises to indemnify the City against claims or suits brought
under Title 51 RCW by its employees or subcontractors and waives any immunity that
the Consultant may have under that title with respect to, but only to, the City. Consultant
futher agrees to fully indemnify City from and against any and all costs of defending any
such claim or demand to the end that the City is held harmless therefrom. This paragraph
shall not apply to damages or claims resulting from the sole negligence of the City.
6. General and professional liability insurance. The Consultant shall
secure and maintain in full force and effect during performance of all work pursuant to
this contract a policy of comprehensive general liability insurance providing coverage of
at least $1,000,000 per occurrence and $2,000,000 aggregate for personal injury;
$1,000,000 per occurrence and aggregate for property damage; and professional liability
insurance in the amount of $1,000,000. Such policies, except the professional liability
insurance policy, shall name the City as a named insured and shall include a provision
prohibiting cancellation of said policy, except upon thirty (30) days written notice to the
City. Certificates of coverage shall be delivered to the City within fifteen (15) days of
execution of this Agreement.
7. Discrimination prohibited. Consultant shall not discriminate against
any employee or applicant for employment because of race, color, religion, age, sex,
national origin or physical handicap.
8. Consultant is an independent contractor. The parties intend that an
independent contractor relationship will be created by this Agreement. No agent,
employee or representative of the Consultant shall be deemed to be an agent, employee or
representative of the City for any purpose. Consultant shall be solely responsible for all
acts of its agents, employees, representatives and subcontractors during the performance
of this contract.
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Professional Services Agreement appraisal 4.21.101.doc 3
9. City approval of work and relationships. Notwithstanding the
Consultant's status as an independent contractor, results of the work performed pursuant
to this contract must meet the approval of the City.
10. Termination. This being an Agreement for professional services, either
party may terminate this Agreement for any reason upon giving the other party written
notice of such termination no fewer than ten (10) days in advance of the effective date of
said termination.
11. Integration. The Agreement between the parties shall consist of this
document and the Consultant's proposal attached hereto as Exhibit A. These writings
constitute the entire Agreement of the parties and shall not be amended except by a
writing executed by both parties. In the event of any conflict between this written
Agreement and any provision of Exhibit A, this Agreement shall control.
12. Changes/Additional Work. The City may engage Consultant to perform
services in addition to those listed in this Agreement, and Consultant will be entitled to
additional compensation for authorized additional services or materials. The City shall
not be liable for additional compensation until and unless any and all additional work and
compensation is approved in advance in writing and signed by both parties to this
Agreement. If conditions are encountered which are not anticipated in the Scope of
Services, the City understands that a revision to the Scope of Services and fees may be
required. Provided, however, that nothing in this paragraph shall be interpreted to
obligate the Consultant to render or the City to pay for services rendered in excess of the
Scope of Services in Exhibit A unless or until an amendment to this Agreement is
approved in writing by both parties.
13. Standard of Care. Consultant represents that Consultant has the
necessary knowledge, skill and experience to perform services required by this
Agreement. Consultant and any persons employed by Consultant shall use their best
efforts to perform the work in a professional manner consistent with sound engineering
practices, in accordance with the schedules herein and in accordance with the usual and
customary professional care required for services of the type described in the Scope of
Services.
14. Non-waiver. Waiver by the City of any provision of this Agreement or
any time limitation provided for in this Agreement shall not constitute a waiver of any
other provision.
15. Non-assignable. The services to be provided by the contractor shall not
be assigned or subcontracted without the express written consent of the City.
16. Covenant against contingent fees. The Consultant warrants that he has
not employed or retained any company or person, other than a bona fide employee
working solely for the Consultant, to solicit or secure this contract, and that he has not
paid or agreed to pay any company or person, other an a bona fide employee working
solely for the Consultant, any fee, commission, percentage, brokerage fee, gifts, or any
other consideration contingent upon or resulting from the award of making of this
contract. For breach or violation of this warranty, the City shall have the right to annul
this contract without liability or, in its discretion to deduct from the contract price or
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Professional Services Agreement appraisal 4.21.101.doc 4
consideration, or otherwise recover, the full amount of such fee, commission, percentage,
brokerage fee, gift, or contingent fee.
17. Compliance with laws. The Consultant in the performance of this
Agreement shall comply with all applicable Federal, State or local laws and ordinances,
including regulations for licensing, certification and operation of facilities, programs and
accreditation, and licensing of individuals, and any other standards or criteria as
described in the Agreement to assure quality of services.
The Consultant specifically agrees to pay any applicable business and occupation (B &
O) taxes which may be due on account of this Agreement.
18. Notices. Notices to the City of Edmonds shall be sent to the following
address:
City of Edmonds Parks, Recreation & Cultural Seravices
700 Main Street
Edmonds, WA 98020
Notices to the Consultant shall be sent to the following address:
Lamb Hanson Lamb, Appraisal Associates, Inc.
4025 Delridge Way SW., Suite 530
Seattle WA 98106
Receipt of any notice shall be deemed effective three (3) days after deposit of written
notice in the U.S. mails, with proper postage and properly addressed.
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Professional Services Agreement appraisal 4.21.101.doc 5
DATED THIS _______ DAY OF __________________, 2010.
CITY OF ________________________ CONSULTANT:
By:_____________________________ By__________________________
________________________________ Its___________________________
Gary Haakenson, Mayor
ATTEST:
________________________________
City Clerk
APPROVED AS TO FORM:
________________________________
City Attorney
STATE OF WASHINGTON )
)ss
COUNTY OF )
On this ______ day of ______________________, 2010, before me, the
undersigned, a Notary Public in and for the State of Washington, duly
commissioned and sworn, personally appeared ______________________________,
to me known to be the _____________________________ of the corporation that
executed the foregoing instrument, and acknowledged the said instrument to be the
free and voluntary act and deed of said corporation, for the uses and purposes
therein mentioned, and on oath stated that he/she was authorized to execute said
instrument and that the seal affixed is the corporate seal of said corporation.
WITNESS my hand and official seal hereto affixed the day and year first
above written.
____________________________
NOTARY PUBLIC
My commission expires:
_____________________________
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4025 Delridge Way SW, Suite 530, Seattle, WA 98106
www.LambHansonLamb.com, Tele: (206) 903-1500 Fax: (206) 903-0648
Engagement Letter
April 22, 2010
Mayor Gary Haakenson
c/o Brian McIntosh
City of Edmonds
700 Main Street
Edmonds, WA 98020
Phone (425) 771-0256
mcintosh@ci.edmonds.wa.us
Re: Summary appraisal report to provide an opinion of the fair market value of the former Skipper’s
restaurant building located at 102 Main Street, Edmonds, WA 98020.
Dear Mayor Haakenson,
Thank you for the opportunity to propose our real estate valuation services. This letter includes both the
details regarding our proposal and our professional services agreement. We look forward to any
questions and comments you might have regarding this proposal.
Real Property Assets to Be Appraised
Lamb Hanson Lamb will provide valuation services regarding the commercial restaurant building located at
102 Main Street, Edmonds, WA 98020. (Snohomish County Parcel number 00454800300700).
Purpose and Use of the Appraisal
The purpose of the appraisal is to express an opinion of the fair market value of the fee simple interest of
the subject property to be used in price negotiations, as well as for state and federal grant applications.
Fair Market Value
The Appraisal Foundation defines Market Value as: “The most probable price which a property should
bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller
each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus.
Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from
seller to buyer under conditions whereby:
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4025 Delridge Way SW, Suite 530, Seattle, WA 98106
www.LambHansonLamb.com, Tele: (206) 903-1500 Fax: (206) 903-0648
buyer and seller are typically motivated;
both parties are well informed or well advised, and acting in what they consider their best
interests;
a reasonable time is allowed for exposure in the open market;
payment is made in terms of cash in United States dollars or in terms of financial arrangements
comparable thereto; and
the price represents the normal consideration for the property sold unaffected by special or
creative financing or sales concessions granted by anyone associated with the sale.”
Effective Date
The effective date of valuation will be the date of inspection.
Scope of Appraisal and Methodology
Valuation of real estate interests requires consideration of all pertinent factors bearing upon their
investment merits. The purpose and function of the appraisal, the type and age of the assets, and the
quantity and quality of available data affect the applicability of each approach in a specific appraisal
situation.
As with most whole property, the Direct Sales Comparison and Income Capitalization approaches are the
most applicable and necessary methods in determining the market value of the commercial property. The
Cost Approach may, or may not be applicable to the valuation depending on the accuracy of estimating
accrued depreciation of the improvements. The appraisal process is concluded by a review and re-
examination of each of the approaches to value that have been employed and the approaches are
reconciled to a final market value conclusion.
We will rely on the Client and his/her agents to provide appropriate listings, access to maintenance
records, and recent purchase cost/construction information, as appropriate. We will verify all comparable
land sales through public records and discussions with buyers, sellers, and sales agents, as appropriate.
Public records alone will not suffice to identify special sale or market conditions or other problems with a
particular transaction. It is further noted that the subject property has not undergone any environmental
studies. The appraisers do not anticipate any issues of environmental contamination. However, the report
will not take into consideration of any environmental issues that may or may not be present. We will rely
on the information provided by the Client, such as soils surveys and geo-tech studies, to analyze any
unknown physical conditions of the property
Presentation of Findings
The results of the analysis will be presented in a summary appraisal report format that is in compliance
with the Uniform Standards of Professional Appraisal Practice. It is intended for the use of the City of
Edmonds. Other intended users may include the City’s legal representation, agents, and transaction
facilitators. We will provide 3 copies of the appraisal report to the Client.
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4025 Delridge Way SW, Suite 530, Seattle, WA 98106
www.LambHansonLamb.com, Tele: (206) 903-1500 Fax: (206) 903-0648
Timing
We recognize that time is of the essence in the completion of this appraisal assignment. Completion date
of the report will be two to three weeks following the signing of the contract, or sooner. Said
completion date is an estimate and does not take into consideration delays beyond the control of the
appraiser, such as illness, court testimony, lack of specific necessary data and/or Acts of God.
Professional Fees
Valuation service fees are $4,000, including expenses and travel. Also, a 50% retainer is collectable at the
onset of the assignment- following the signing of this contract. The following is a breakdown of the
assignment fee:
Summary Narrative Appraisal Report: $3,500
Rush Fee $500
Total Fee $4,000
If asked to review and evaluate new data and significantly modify the appraisal, the time for this additional
service will be billed at the standard billing rate of $225.00 per hour plus out of pocket expenses. Any
services related to the presentation of the value conclusion, such as participation in negotiations,
consultation on terms and tax planning shall also be billed at $225.00 per hour for these services plus out
of pocket expenses.
The signatory of this agreement guarantees payment of fees due Lamb Hanson Lamb for this engagement.
One and one half percent (1.5 %) per month will be charged on overdue accounts. Invoices are due
when rendered. The balance of the fee for the valuation is due within thirty days of a draft report having
been mailed to you and your representative. Lamb Hanson Lamb reserves the right to stop work in the
event that it is not apparent to their satisfaction as to when payment in full would be expected. Client
warrants that the information and data it supplies to Lamb Hanson Lamb will be complete and accurate in
every material respect; that any reports, analysis, or other documents or oral advice prepared by Lamb
Hanson Lamb will be used by Client and only in compliance with all applicable laws and regulations.
Client agrees that it will not provide the work of Lamb Hanson Lamb to any party or allow any other party
to rely on it without the express written consent of Lamb Hanson Lamb.
Client will indemnify and hold harmless Lamb Hanson Lamb (Indemnified Persons) from any and all
liabilities and expenses, including reasonable attorneys fees, arising out of any action related to this
engagement and will assume the defense thereof with counsel reasonably suitable to Lamb Hanson
Lamb. The indemnification obligations hereunder shall not apply to any loss, claim, damage, liability or
expense that is finally judicially determined on the merits to have been caused primarily by the
negligence, bad faith, willful misfeasance, or reckless disregard of obligations or duties on the part of
Lamb Hanson Lamb.
Either party may terminate this Agreement, with or without cause, by providing written notice to the other
party. In the event of early termination, for whatever reason, Client will be invoiced for time and expenses
incurred up to the end of the notice period together with reasonable time and expenses incurred to
bring the provision of services to a close in a prompt and orderly manner. In the event that any action is
used to enforce this Agreement to resolve a dispute under its terms, the prevailing party shall be entitled
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4025 Delridge Way SW, Suite 530, Seattle, WA 98106
www.LambHansonLamb.com, Tele: (206) 903-1500 Fax: (206) 903-0648
to recover its costs and attorneys fees. All such actions shall be brought in King County, Washington and
governed in all respects by the laws of the state of Washington without regard to its conflicts of law rules.
If you would like us to proceed with the engagement, please sign and return one copy of this letter.
Please retain a copy for your files. Please call Patrick M. Lamb at 206-838-1216, if you have any questions.
We look forward to working with you on this project.
Sincerely, Accepted By: Date
Patrick M. Lamb Gary Haakenson
WA State Certified General Mayor, City of Edmonds
Appraiser & Consultant
Lamb Hanson Lamb Appraisal Associates, Inc.
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4025 Delridge Way SW, Suite 530, Seattle, WA 98106
www.LambHansonLamb.com, Tele: (206) 903-1500 Fax: (206) 903-0648
Subject Aerial Photos
Figure 1: Plat Map
Figure 2: Birdseye Aerial
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4025 Delridge Way SW, Suite 530, Seattle, WA 98106
www.LambHansonLamb.com, Tele: (206) 903-1500 Fax: (206) 903-0648
REAL ESTATE APPRAISAL DATA REQUEST LIST
(If Available)
Site Description
1. Title Report, if available, inclusive of description of deed restrictions, liens, easements, etc.
2. If Title Report not available, full legal description
3. Street address and assessor’s parcel number(s)
4. Survey map, if available
5. Environmental Assessment Report summary, if any
Improvements Description
1. Architectural drawings including elevations, if available, or floor plan layouts
2. Year built, remodeled, upgraded, expanded
3. Number of parking spaces
4. Copies of prior appraisals, if any
5. List of all major repairs or maintenance issues that are to be addressed (deferred
maintenance)
Ownership
1. Full name of property owner
2. If within last three years, date property acquired and/or listed for sale and how long
property was on market prior to sale. Provide copies of all documentation regarding sale.
3. If within last three years, identify special sale conditions, if any (e.g., premium or discount
paid, distressed sale, assemblage, non cash payments, tax free exchange, additional fees,
etc.)
Tax Issues
1. Tax statements (last three years) reflecting both assessed values and taxes paid.
2. Identify past, existing, or proposed LID or other special assessments
Financial Data
1. Copy of leases or lease summaries.
2. Copy of management and/or brokerage agreements or summaries thereof.
3. Historical financial statements (balance sheet, operating statement, use and source of funds,
supplemental data and all notes) for last three years, budgeted current year and projection
period.
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