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Home My WebLink About208-20 RESOLUTION113 West Mountain Street Fayetteville, AR 72701 (479) 575-8323 Resolution: 208-20 File Number: 2020-0622 RFQ #20-05 ON -CALL APPRAISAL SERVICES: A RESOLUTION TO AWARD RFQ #20-05 AND AUTHORIZE THE PURCHASE OF ON -CALL APPRAISAL SERVICES FROM REED & ASSOCIATES, INC. AND RIFE AND COMPANY APPRAISERS, INC. AS NEEDED THROUGH DECEMBER 31, 2020 BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby awards RFQ #20-05 and authorizes the purchase of on -call appraisal services from Reed & Associates, Inc. and Rife Company Appraisers, Inc. as needed through December 31, 2020, for the rates set forth in the fee schedules attached to this Resolution. PASSED and APPROVED on 8/18/2020 Attest: ``�� r r r r r r►rrr� ��•`J C,�ER K / TR�iz� •G Kara Paxton, City Clerk Treasurer, �� %'yj� • ;qNSA .. • �� iGTDN COVN%``�� Page 1 Printed on 8119120 City of Fayetteville, Arkansas 113 West Mountain Street Fayetteville, AR 72701 (479) 575-8323 i l Text File �_-File Number: 2020-0622 Agenda Date: 8/18/2020 Version: 1 Status: Passed In Control: City Council Meetinq File Type: Resolution Agenda Number: A. 2 RFQ #20-05 ON -CALL APPRAISAL SERVICES: A RESOLUTION TO AWARD RFQ #20-05 AND AUTHORIZE THE PURCHASE OF ON -CALL APPRAISAL SERVICES FROM REED & ASSOCIATES, INC. AND RIFE AND COMPANY APPRAISERS, INC. AS NEEDED THROUGH DECEMBER 31, 2020 BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby awards RFQ #20-05 and authorizes the purchase of on -call appraisal services from Reed & Associates, Inc. and Rife Company Appraisers, Inc. as needed through December 31, 2020, for the rates set forth in the fee schedules attached to this Resolution. City of Fayetteville, Arkansas Page 1 Printed on 811912020 Matt Casey Submitted By City of Fayetteville Staff Review Form 2020-0622 Legistar File ID 8/18/2020 City Council Meeting Date - Agenda Item Only N/A for Non -Agenda Item 7/21/2020 ENGINEERING (621) Submitted Date Division / Department Action Recommendation: Approval of a resolution to award RFP 20-05, to Reed & Associates, Inc. and Rife and Company Appraisers based on rates provided and availability for on -call appraisal services as needed through December 31, 2020 Account Number Project Number Budgeted Item? NA Does item have a cost? No Budget Adjustment Attached? NA Purchase Order Number: Change Order Number: Original Contract Number: Comments: Budget Impact: Current Budget Funds Obligated Current Balance Item Cost Budget Adjustment Remaining Budget Fund Project Title '$ 1 $ Previous Ordinance or Resolution # Approval Date: V20180321 CITY OF FAYETTEVILLE ARKANSAS MEETING OF AUGUST 18, 2020 TO: Mayor and City Council THRU: Susan Norton, Chief of Staff Garner Stoll, Development Services Director Chris Brown, City Engineer FROM: Matt Casey, Engineering Design Manager DATE: July 21, 2020 CITY COUNCIL MEMO SUBJECT: Approval of a resolution to award RFP 20-05, to Reed & Associates, Inc. and Rife and Company Appraisers based on rates provided and availability for on -call appraisal services as needed through December 31, 2020 RECOMMENDATION: A resolution to award RFP 20-05, to Reed & Associates, Inc. and Rife and Company Appraisers based on rates provided and availability for on -call appraisal services as needed through December 31, 2020. BACKGROUND: As part of many of the City's street, drainage, water and sewer projects the City must acquire right of way and easements in order to construct the improvements. For the City to establish fair compensation rates for the acquisitions, appraisals are ordered for some of the properties throughout the project. Typically, when an appraisal is needed, the City Land Agents will request 3 quotes from local appraisers. After the quotes are received, the lowest quote will be selected, and a purchase order will be requested. By selecting on -call appraisers, this will allow the Land Agents to move forward without requesting multiple quotes and will save project time. DISCUSSION: An engineering selection committee selected Reed & Associates, Inc. and Rife and Company Appraisers to be used for on -call appraisal services for street, drainage and utilities projects for the remainder of 2020. BUDGET/STAFF IMPACT: Funds for the appraisals have been budgeted in various capital projects with the Sales Tax Capital Improvements Fund, the Transportation Bond Fund, Drainage Bond Fund and the Water and Sewer Fund. Attachments: Reed and Associates Submittal Rife Company Submittal Mailing Address: 113 W. Mountain Street www.fayetteville-ar.gov Fayetteville, AR 72701 CITY OF City of Fayetteville, Arkansas A Y E �` �° E � 1 � � E Purchasing Division -Room 306 113 W. Mountain A R K A N S A S Fayetteville, AR 72701 Phone: 479.575.8220 TDD (Telecommunication Device for the Deaf): 479.521.1316 REQUEST FOR PROPOSAL: RFP 20-05, Appraisal Services DEADLINE: Wednesday April 29, 2020 before 2:00:00 PM, local time RFP DELIVERY LOCATION: Room 306 —113 W. Mountain, Fayetteville, AR 72701 PURCHASING AGENT: Les McGaugh, DATE OF ISSUE AND ADVERTISEMENT: Bonfire: 4.6.2020; Ad: 4.8.2020 REQUEST FOR PROPOSAL RFP 20-05, Appraisal Services No late proposals shall be accepted. RFP's shall be submitted in sealed envelopes labeled with the project number and name as well as the name and address of the firm. All proposals shall be submitted in accordance with the attached City of Fayetteville specifications and bid documents attached hereto. Each Proposer is required to fill in every blank and shall supply all information requested; failure to do so may be used as basis of rejection. Any bid, proposal, or statements of qualification will be rejected that violates or conflicts with state, local, or federal laws, ordinances, or policies. The undersigned hereby offers to furnish & deliver the articles or services as specified, at the prices & terms stated herein, and in strict accordance with the specifications and general conditions of submitting, all of which are made a part of this offer. This offer is not subject to withdrawal unless upon mutual written agreement by the Proposer/Bidder and City Purchasing Agent. �t Name of Firm: �2-e-d �" Assoc14:k lac - Contact Person: Ka6-- Title: iNi6aaler 1'4W(0wx-(- E-Mail:4000fm . W amaISOL, IZ- Phone: Business Address: 37: N 1f gJVd SFC 32-2- City: Ra '&-evi Alt State: Zip: 7z703 Signature: kq�Date: City of Fayetteville, AR RFP 20-05, Appraisal Services Page 1 of 21 City of Fayetteville RFP 20-05, Appraisal Services SECTION B: Vendor References The following information 'isrrequired from all firms so all statements of qualification may be reviewed and properly evaluated: COMPANY NAME: Reri C��+l.5 ln,- NUMBER OF YEARS IN BUSINESS: HOW LONG IN PRESENT LOCATION: Q TOTAL NUMBER OF CURRENT EMPLOYEES: Il! FULL TIME PART TI ME NUMBER OF EMPLOYEES PLANNED FOR THIS CONTRACT: A FULLTIME PART TIME PLEASE LIST FOUR (4) REFERENCES THAT YOU HAVE PREVIOUSLY PERFORMED CONTRACT SERVICES FOR WITHIN THE PAST FIVE (S) YEARS (All fields must be completed): 1. D . R . (' o low AssoGta'� s 2. KV%Ct-e ns COMPANY NAME COMPANY NAME 6 L' ale lzukllfk _Norte LAWt CITY, STATE, ZIP CITY, STATE, ZIP CONTACT PERSON ol- 3-1t)-a600 TELEPHONE 501-3'10-q�eo2 FAX NUMBER Aroche0Orcol Cal .corn E-MAIL ADDRESS 3. ( fin 1 Va so i f l IIII Sep �f l��eS COMPANY NAME TiA,ls a , oK 14 ii 3 CITY, STATE, ZIP I,vr � zr nan CONTACT PERSON TELEPHONE q 1 6- �iq�l-�Iteso FAX NUMBER 1vVrWy .Qujsrw. cum E-MAILADDRESS City of Fayetteville, AR RFP 20-05, Appraisal Services Page 14 of 21 jamts Brad-ev► CONTACT PERSON 5o1-qq� -o10 I TELEPHONE FAX NUMBER ',brads @ piPna>Gkcar0u p, bit E-' Ail- ADDRESS 4. CqW+.(ouch I C + t4fw COM NY NA E sp l "a,�'e I Alz iz-1(e`f CITY, ST TEA ZIP cko (ts (-&-we I I CONTACT PERSON 4-19�Saaa TELEPHONE FAX NUMBER -RrmOpma. law E-MAILADDRESS City of Fayetteville RFP 20-05, Appraisal Services SECTION D: Signature Submittal — Required with all responses Proposers shall include this form completed in its entirety with RFP response. This form shall not count towards page limitations set forth in the RFP. 1. DISCLOSURE INFORMATION Proposer shall disclose any possible conflict of interest with the City of Fayetteville, including, but not limited to, any relationship with any City of Fayetteville employee. Proposer response must disclose if a known relationship exists between any principal or employee of your firm and any City of Fayetteville employee or elected City of Fayetteville official. If, to your knowledge, no relationship exists, this should also be stated in your response. Failure to disclose such a relationship may result in cancellation of a purchase and/or contract as a result of your response. This form must be completed and returned in order for your bid/proposal to be eligible for consideration. PLEASE CHECK ONE OF THE FOLLOWING TWO OPTIONS, AS IT APPROPRIATELY APPLIES TO YOUR FIRM: X1) NO KNOWN RELATIONSHIP EXISTS 2) RELATIONSHIP EXISTS (Please explain): I certify that; as an officer of this organization, or per the attached letter of authorization, am duly authorized to certify the information provided herein are accurate and true; and my organization shall comply with all State and Federal Equal Opportunity and Non -Discrimination requirements and conditions of employment. 2. PRIMARY CONTACT INFORMATION At the discretion of the City, one or more firms may be asked for more detailed information before final ranking of the firms, which may also include oral interviews. NOTE: Each Proposer shall submit to the City a primary contact name, e-mail address, and phone number (preferably a cell phone number) where the City selection committee can call for clarification or interview via telephone. Corporate Name of Firm: R-ec4 "t Assc oks (Q - Primary Contact: Ka- e T'lrrl-m id Title of Primary Contact: N�AOL ITTpraksu Phone#1 (cell preferred): 11 t—LAL k_-1gq_I Phone42: Sa,_ 43 13 E-Mail Address: khaP&P�n ra)acaa YialSo`- biz- 3. ACKNOWLEDGEMENT OF ADDENDA Acknowledge receipt of addenda for this invitation to bid, request for proposal, or request for qualification by signing and dating below. All addendums are hereby made a part of the bid or RFP documents to the same extent as though it were originally included therein. Proposers/Bidders should indicate their receipt of same in the appropriate blank listed herein. Failure to do so may subject vendor to disqualification. City of Fayetteville, AR RFP 20-05, Appraisal Services Page 20 of 21 ADDENDUM NO. SIGNATURE AND PRINTED NAME ! DATE ACKNOWLEDGED I 4. PRICING: Pricing shall be attached as a separate form. Reference RFP for details on what all pricing shall include. 5. DEBARMENT CERTIFICATION: As an interested party on this project, you are required to provide debarment/suspension certification indicating in compliance with the below Federal Executive Order. Certification can be done by completing and signing this form. Federal Executive Order (E.O.) 12549 "Debarment and Suspension" requires that all contractors receiving individual awards, using federal funds, and all sub -recipients certify that the organization and its principals are not debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded by any Federal department or agency from doing business with the Federal Government. Signature certifies that neither you nor your principal is presently debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded from participation in this transaction by any federal department or agency. Questions regarding this form should be directed to the City of Fayetteville Purchasing Division. NAME OF COMPANY: f Ass Octct�S IRC - PHYSICAL ADDRESS: ` N SVec �c �W ge, 3 12--70 MAILING ADDRESS: PRINTED NAME: PHONE: q2 - Ju-e 3 FAX: qIg- 5:)11 � E-MAIL: fN11Qni1.fIlD11 (1' rWL awrall r/ � 2 SIGNATURE: TITLE:C�nCcS �(alS�►' DATE: DUNS#: 073 i a�A ,YjZ TAX ID: City of Fayetteville, AR RFP 20-05, Appraisal Services Page 21 of 21 Firm Overview Reed & Associates, Inc. is a real property appraisal firm located at 3739 North Steele Boulevard, Suite 322, Fayetteville, Arkansas 72703. The company was founded in July 1979. Appraisers with Reed & Associates, Inc. are involved on a regular basis with the appraisal of residential, commercial, industrial, special-purpose, and agricultural properties. The typical assignments involve detailed narrative reports for such clients as financial institutions, government agencies, quasi -public agencies, attorneys, individuals, etc. The appraisal assignments typically must be completed within a set time frame. Reed & Associates, Inc. is located in the Northwest Arkansas area and has been since 1979. The company's primary work area includes the State of Arkansas; and the Missouri Counties of McDonald, Stone, Barry, and Taney. Key Personnel Reed & Associates, Inc. includes five appraiser employees, three appraiser independent contractors, and one support staff. Three of the appraiser employees hold General Appraiser Licenses with the State of Arkansas and two of the appraiser employees are State Registered Appraisers. One of the appraiser employees also holds a General Appraiser License with the State of Missouri. In addition, Tom Reed holds the MAI designation through the Appraisal Institute. Tom Reed also holds the CRE designation through the Counselors of Real Estate. Two of the appraiser independent contractors hold a General Appraiser License with the State of Arkansas, and one is State Licensed in Arkansas. Statement of Oualifications and Performance Data Appraisers with Reed & Associates, Inc. regularly perform appraisal assignments involving potential litigation. Appraisal or appraisal review assignments performed by Reed & Associates, Inc., involving partial or complete acquisitions within the recent past include the following: O.R. Colan Associates — City of Conway — 61h Street Over I-40 Project — Commercial Review Assignments Briggs Field Services, Inc. — Cross Co. Line — Hwy. 147 Widening Project (ARDOT) — Cross & Crittenden Counties — Agricultural, Residential, & Commercial Appraisal Assignments Pinnacle Consulting Management Group, Inc. — Hwy 67-Hwy 141 Widening Route 412 Sections 7 and 8 — Lawrence & Greene County — Residential & Agricultural Appraisal Assignments Universal Field Services — Hwy 7113/121h St./Tiger Blvd. Inters. Imprvts. Project — Bentonville — Commercial Review Assignments O.R. Colan Associates — City of Rogers — Walnut Widening — 81h Street to Dixieland Road — Commercial Appraisal Assignments Various Street & Utility Projects — Springdale & Fayetteville, Arkansas The preceding assignments were completed by either Tom Reed, Shannon Mueller, Katie Hampton, or Ricky Scruggs, or a combination of these appraisers. We appreciate the opportunity to present this statement of Qualifications. Thank you for your consideration in this matter. Sincerely, 4141 Tom Reed, MAI, CRE REED & ASSOCIATES, INC. CITY of FAVETTEVILLE, ARKANSAS REQUEST FOR PROPOSALS (RFP) APPRAISAL SERVICES ATTACHMENT B COST PROPOSAL (Unit Price per Tract) Reed & Associates Fee Administrative Services Title Services Title Commitment - 30 Year Title Search Initial Appraisal Services $ / Tract Compensation Estimate ($10,000.00 or Less) $1000 Detailed Appraisal — Vacant Residential Land 2000 Detailed Appraisal — Vacant Agricultural Land 2000 Detailed Appraisal — Vacant Commercial Land Detailed Appraisal - Residential Single Family $2500 Detailed Appraisal - Residential Multi -Family 3000 Detailed Appraisal - Small Commercial Property $3000 Detailed Appraisal - Large Commercial Property ' MUO— Detailed Appraisal - Improved Agricultural Property $3500 Billboard Valuation $1500 Appraisal Services - Updates $ / Tract Compensation Estimate $10,000.00 or Less $500 Detailed Appraisal — Vacant Residential Land $1000 Detailed Appraisal — Vacant Agricultural Land $1000 Detailed Appraisal — Vacant Commercial Land $1000 Detailed Appraisal - Residential Single Family Detailed Appraisal - Residential Multi -Family $1500 Detailed Appraisal - Small Commercial Property $1500 Detailed Appraisal - Large Commercial Property $1750-$2500 Detailed Appraisal - Improved Agricultural Property $1750 Billboard Valuation $750 Initial Appraisal Review Services $ / Tract Compensation Estimate ($10,000.00 or Less) $500 Detailed Appraisal — Vacant Residential Land $1000 Detailed Appraisal — Vacant Agricultural Land $1000 Detailed Appraisal — Vacant Commercial Land $1000 Detailed Appraisal - Residential Single Family 1250 Ital Reed & Associates Detailed Appraisal - Residential Multi -Family $1500 Detailed Appraisal - Small Commercial Property $1500 Detailed Appraisal - Large Commercial Property $1750-$2500 Detailed Appraisal - Improved Agricultural Property $1750 Billboard Valuation $750 Appraisal Review Services - Updates $ / Tract Compensation Estimate $10,000.00 or Less) $250 Detailed Appraisal — Vacant Residential Land $500 Detailed Appraisal — Vacant Agricultural Land $500 Detailed Appraisal — Vacant Commercial Land $500 Detailed Appraisal - Residential Single Family $625 Detailed Appraisal - Residential Multi -Family Detailed Appraisal - Small Commercial Property $750 Detailed Appraisal - Large Commercial Property $875-$1250 Detailed Appraisal - Improved Agricultural Property $875 Billboard Valuation $375 Services 1 $ / Tract Services 1 $ / Tract Relocation Assistance Services $ / Tract Business Relocation Residential Relocation Personal Property Relocation Services 1 $ / Tract Eminent Domain/Relocation Proceedings Pre-trial Conference 1 /2 Da $800 Pre-trial Conference Full Da) $1600 Expert Witness at Trial/Hearin 1/2 Da) $800 Expert Witness at Trial/Hearing (Full Day) 1 $1600 Im RFP 20-05, Appraisal Services - Proposal Data Show/Hide A Supplier Z Arkansas Secretary of State Filing P Reed & Associates, Inc. 100043307 Scorecard Open.. Rife & Company Appraisers 100178957 Scorecard Open... V Form W-9 Request for Taxpayer Give Form to the (Rev.December Identification Number and Certification requester. Do not entofteTreas Department of the Treasury send to the IRS. Internal Revenue Service 1 Name (as shown on your income tax return), Name is required on this line: do not leave this line blank. Reed & Associates, Inc. N 2 Business name/disregarded entity name, if different from above Reed & Associates, Inc. a 3 Check appropriate box for federal tax classification; check only one of the following seven boxes: 4 Exemptions (codes apply only to certain entities, not individuals; see O ❑ Individual/sole proprietor or ❑ C Corporation ❑� S Corporation ❑ Partnership ❑ Trust/estate instructions on page 3): aa c Z. •0 single -member LLC ❑ Limited liability company. Enter the tax classification (C=C corporation, S=S corporation, P=partnership) 0-_ Exempt payee code (if any) -- p Note. For a single -member LLC that is disregarded, do not check LLC; check the appropriate box in the line above for Exemption from FATCA reporting y the tax classification of the single -member owner. code (if any) = C a ❑ Other (see instruct ions) ► (AtNes ro accounts myn1&~ nnvAe me U S ) w 5 Address (number, street, and apt. or suite no.) Requester's name and address (optional) n 3739 N. Steele Boulevard, Suite 322 8 City, state, and ZIP code Fayetteville, AR 72703 7 lest account numbers) here (optional) Taxpayer Identification Number (TIN) Enter your TIN in the appropriate box. The TIN provided must match the name given on line 1 to avoid Social security number backup withholding. For individuals, this is generally your social security number (SSN). However, for a resident alien, sole proprietor, or disregarded entity, see the Part I instructions on page 3. For other - ID- entities. it is vour emolover identification number (EIN). If you do not have a number, see How to oet a TIN on page 3. or Note. If the account is in more than one name, see the instructions for line 1 and the chart on page 4 for I ErnpkW Identification number guidelines on whose number to enter. 7 1- 0 1 5 1 6 1 4 1 8 1 0 1 0 Certification Under penalties of perjury, I certify that: 1. The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me); and 2. 1 am not subject to backup withholding because: (a)1 am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue Service (IRS) that 1 am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that I am no longer subject to backup withholding; and 3. 1 am a U.S. citizen or other U.S. person (defined below); and 4. The FATCA code(s) entered on this form (if any) indicating that I am exempt from FATCA reporting is correct. Certification instructions. You must cross out item 2 above if you have been notified by the IRS that you are currently subject to backup withholding because you have failed to report all interest and dividends on your tax return. For real estate transactions, item 2 does not apply. For mortgage interest paid, acquisition or abandonment of secured property, cancellation of debt, contributions to an individual retirement arrangement (IRA), and generally, payments other than interest and divid�nds, you are not required to sign the certification, but you must provide your correct TIN. See the instructions on page 3. I Sign U.S.Sig.person re of I . � Y lMA� i D Here s. rson► Date General Instructions Section references are to the Internal Revenue Code unless otherwise noted. Future developments. Information about developments affecting Form W-9 (such as legislation enacted after we release it) is at www.irs.gov/fw9. Purpose of Form An individual or entity (Form W-9 requester) who is required to file an information return with the IRS must obtain your correct taxpayer identification number (TIN) which may be your social security number (SSN), individual taxpayer identification number (ITIN), adoption taxpayer identification number (ATIN), or employer identification number (EIN), to report on an information return the amount paid to you, or other amount reportable on an information return. Examples of information returns include, but are not limited to, the following: • Form 1099-INT (interest earned or paid) • Form 1099-DIV (dividends, including those from stocks or mutual funds) • Form 1099-MISC (various types of income, prizes, awards, or gross proceeds) • Form 1099-B (stock or mutual fund sales and certain other transactions by brokers) • Form 1099-S (proceeds from real estate transactions) • Form 1099-K (merchant card and third party network transactions) • Form 1098 (home mortgage interest), 1098-E (student loan interest), 1098-T (tuition) • Form 1099-C (canceled debt) • Form 1099-A (acquisition or abandonment of secured property) Use Form W-9 only if you are a U.S. person (including a resident alien), to provide your correct TIN. If you do not return Forth W-9 to the requester with a TIN, you might be subject to backup withholding. See What is backup withholding? on page 2. By signing the filled -out form, you: 1. Certify that the TIN you are giving is correct (or you are waiting for a number to be issued), 2. Certify that you are not subject to backup withholding, or 3. Claim exemption from backup withholding if you are a U.S. exempt payee. If applicable, you are also certifying that as a U.S. person, your arocable share of any partnership income from a U.S. trade or business is not subject to the withholding tax on foreign partners' share of effectively connected income, and 4. Certify that FATCA code(s) entered on this form (if any) indicating that you are exempt from the FATCA reporting, is correct. See What is FATCA reporting? on page 2 for further information. Cat No 1031 X Farm W-9 Mev. 12 20141 CITY OF City of Fayetteville, Arkansas . Purchasing Division — Room 306 AYETTEVILLE 113 W. Mountain A R K A N S A S Fayetteville, AR 72701 Phone: 479.575.8220 TDD (Telecommunication Device for the Deaf): 479.521.1316 REQUEST FOR PROPOSAL: RFP 20-05, Appraisal Services DEADLINE: Wednesday April 29, 2020 before 2:00:00 PM, local time RFP DELIVERY LOCATION: Room 306 —113 W. Mountain, Fayetteville, AR 72701 PURCHASING AGENT: Les McGaugh, Imcgaugh@fayetteville-ar.gov DATE OF ISSUE AND ADVERTISEMENT: Bonfire: 4.6.2020; Ad: 4.8.2020 REQUEST FOR PROPOSAL RFP 20-05, Appraisal Services No late proposals shall be accepted. RFP's shall be submitted in sealed envelopes labeled with the project number and name as well as the name and address of the firm. All proposals shall be submitted in accordance with the attached City of Fayetteville specifications and bid documents attached hereto. Each Proposer is required to fill in every blank and shall supply all information requested; failure to do so may be used as basis of rejection. Any bid, proposal, or statements of qualification will be rejected that violates or conflicts with state, local, or federal laws, ordinances, or policies. The undersigned hereby offers to furnish & deliver the articles or services as specified, at the prices & terms stated herein, and in strict accordance with the specifications and general conditions of submitting, all of which are made a part of this offer. This offer is not subject to withdrawal unless upon mutual written agreement by the Proposer/Bidder and City Purchasing Agent. Name of Firm: Rife & Company Appraisers Contact Person: Thomas G. Rife MAI, SRA, AI-GRS E-Mail: tomrife@aol.com Business Address: 1001 N Walton Blvd City: Bentonville State: AR Title: Owner Phone: 4799366806 or 4798417856 Zip: 72712 Signature: �e%� Date: 04/23/2020 City of Fayetteville, AR RFP 20-05, Appraisal Services Page 1 of 21 City of Fayetteville RFP 20-05, Appraisal Services Advertisement City of Fayetteville, AR Request for Proposal RFP 20-05, Appraisal Services The City of Fayetteville, Arkansas is requesting proposals from qualified firms to provide appraisal services. To be considered, sealed proposals shall be submitted on the City's electronic procurement software Bonfire, or received at the City Administration Building, City Hall, Purchasing — Room 306, 113 West Mountain, Fayetteville, Arkansas, by Wednesday April 29, 2020 before 2:00:00 PM, local time. No late submittals shall be accepted. Project documents & addendums can be obtained by request from the City of Fayetteville via request from Les McGaugh, Purchasing Agent at Imcgaugh@fayetteville-ar.gov or (479)575-8220. The invitation to bid, documents, and addenda issued will be made publically available at https://fayetteville- ar.bonfirehub.com/portal/?tab=openOpportunities . All questions regarding the process should be directed to Les McGaugh. Proposals submitted shall be qualified to do business and licensed in accordance with all applicable laws of the state and local governments where the project is located. Pursuant to Arkansas Code Annotated §22-9-203 The City of Fayetteville encourages all qualified small, minority and women business enterprises to bid on and receive contracts for goods, services, and construction. Also, City of Fayetteville encourages all general contractors to subcontract portions of their contract to qualified small, minority and women business enterprises. The City of Fayetteville reserves the right to reject any or all proposals and to waive irregularities therein and all Proposers shall agree that such rejection shall be without liability on the part of the City of Fayetteville for any damage or claim brought by any Proposer because of such rejections, nor shall the Proposers seek any recourse of any kind against the City of Fayetteville because of such rejections. The filing of any Proposal in response to this invitation shall constitute an agreement of the Proposer to these conditions. CITY OF FAYETTEVILLE, AR By: Les McGaugh Title: Purchasing Agent Bonfire: 4.6.2020; Ad: 4.8.2020 City of Fayetteville, AR RFP 20-05, Appraisal Services Page 2 of 21 City of Fayetteville RFP 20-05, Appraisal Services Appendix SECTION: PAGE NUMBER Cover Page 01 Advertisement 02 SECTION A: General Terms & Conditions 04 SECTION B: Vendor References 14 SECTION C: Scope of Services and General Information 15 SECTION D: Submittal Signature 21 City of Fayetteville, AR RFP 20-05, Appraisal Services Page 3 of 21 City of Fayetteville RFP 20-05, Appraisal Services SECTION A: General Terms & Conditions 1. SUBMISSION OF A PROPOSAL SHALL INCLUDE: Each proposal shall contain the following at a minimum. Proposer must also address detailed requirements as specified in the Scope of Work. a. A written narrative describing the method or manner in which the Proposer proposes to satisfy requirements of this RFP in the most cost-effective manner. b. A description of the Proposer's experience in providing the same or similar services as outlined in the RFP. This description should include the names of the person(s) who will provide the services, their qualifications, and the years of experience in performing this type of work. Also, include the reference information requested in this RFP. c. The complete fee and cost to the City for all services outlined in this RFP. d. Statement should be no more than twenty-five (25) pages; single sided, standard, readable, print on standard 8.5x11 papers. Proposers shall also submit a three (3) page (maximum) executive summary. The following items will not count toward the page limitations: appendix, cover sheet, 3-page executive summary, resumes (resumes shall be no more than 1 page per person), and forms provided by the City for completion. e. SUBMISSION PROCEDURES: Electronic Submission: The vendor should register at https://fayetteville- ar.bonfirehub.com/portal/?tab=openOpportunities and submit all required documents according to the website instructions. Electronic copies shall not be submitted via e-mail to City employees by the Proposer ii. Physical Sealed Submission: All Proposers shall submit six (6) identical sets of the proposal as well as one (1) electronic copy on a properly labeled CD or other electronic media device. The electronic copy submitted should be contained into one (1) file. The use of Adobe PDF documents is strongly recommended. Files contained on the CD or electronic media shall not be restricted against saving or printing. The electronic copy shall be identical to the original papers submitted inclusive of City forms for completion. f. Proposals will be reviewed following the stated deadline, as shown on the cover sheet of this document. Only the names of Proposers will be available after the deadline until a contract has been awarded by the Fayetteville City Council. All interested parties understand proposal documents will not be available until after a valid contract has been executed. Proposers shall submit a proposal based on documentation published by the Fayetteville Purchasing Division. Proposals shall be enclosed in sealed envelopes or packages addressed to the City of Fayetteville, Purchasing Division, Room 306, 113 W. Mountain, Fayetteville, AR 72701. The name, address of the firm and Bid, RFP, or RFQ number shall be on the outside of the packaging as well as on any packages enclosed in shipping containers or boxes. City of Fayetteville, AR RFP 20-05, Appraisal Services Page 4 of 21 Proposals must follow the format of the RFP. Proposers should structure their responses to follow the sequence of the RFP. Proposers shall have experience in work of the same or similar nature, and must provide references that will satisfy the City of Fayetteville. Proposer shall furnish a reference list of clients for whom they have performed similar services and must provide information as requested in this document. Proposer is advised that exceptions to any of the terms contained in this RFP or the attached service agreement must be identified in its response to the RFP. Failure to do so may lead the City to declare any such term non-negotiable. Proposer's desire to take exception to a non- negotiable term will not disqualify it from consideration for award. Local time shall be defined as the time in Fayetteville, Arkansas on the due date of the deadline. Documents shall be received before the deadline time as shown by the atomic clock located in the Purchasing Division Office. 2. WRITTEN REQUESTS FOR INTERPRETATIONS OR CLARIFICATION: No oral interpretations will be made to any firms as to the meaning of specifications or any other contract documents. All questions pertaining to the terms and conditions or scope of work of this proposal must be sent in writing via e-mail to the Purchasing Department. Responses to questions may be handled as an addendum if the response would provide clarification to the requirements of the proposal. All such addenda shall become part of the contract documents. The City will not be responsible for any other explanation or interpretation of the proposed RFP made or given prior to the award of the contract. DESCRIPTION OF SUPPLIES AND SERVICES: Any manufacturer's names, trade name, brand name, catalog number, etc. used in specifications are for the purpose of describing and establishing general quality levels. Such references are NOT intended to be restrictive. Proposals shall be considered for all brands that meet the quality of the specifications listed for any items. 3. RIGHTS OF CITY OF FAYETTEVILLE IN REQUEST FOR PROPOSAL PROCESS: In addition to all other rights of the City of Fayetteville, under state law, the City specifically reserves the following: a. The City of Fayetteville reserves the right to rank firms and negotiate with the highest-ranking firm. Negotiation with an individual Proposer does not require negotiation with others. b. The City reserves the right to select the proposal it believes will serve the best interest of the City. c. The City of Fayetteville reserves the right to accept or reject any or all proposals. d. The City of Fayetteville reserves the right to cancel the entire request for proposal. e. The City of Fayetteville reserves the right to remedy or waive technical or immaterial errors in the request for proposal or in proposals submitted. City of Fayetteville, AR RFP 20-05, Appraisal Services Page 5 of 21 The City of Fayetteville reserves the right to request any necessary clarifications, additional information or proposal data without changing the terms of the proposal. The City of Fayetteville reserves the right to make selection of the Proposer to perform the services required on the basis of the original proposals without negotiation. 4. EVALUATION CRITERIA: The evaluation criterion defines the factors that will be used by the selection committee to evaluate and score responsive, responsible and qualified proposals. Proposers shall include sufficient information to allow the selection committee to thoroughly evaluate and score proposals. Each proposal submitted shall be evaluated and ranked by a selection committee. The contract will be awarded to the most qualified Proposer, per the evaluation criteria listed in this RFP. Proposers are not guaranteed to be ranked. S. COSTS INCURRED BY PROPOSERS: All expenses involved with the preparation and submission of proposals to the City, or any work performed in connection therewith, shall be borne solely by the Proposer(s). No payment will be made for any responses received, or for any other effort required of, or made by, the Proposer(s) prior to contract commencement. 6. ORAL PRESENTATION: An oral presentation and/or interview may be requested of any firm, at the selection committee's discretion. 7. CONFLICT OF INTEREST: The Proposer represents that it presently has no interest and shall acquire no interest, either direct or indirect, which would conflict in any manner with the performance or services required hereunder, as provided in City of Fayetteville Code Section 34.26 titled "Limited Authority of City Employee to Provide Services to the City". b. The Proposer shall promptly notify Les McGaugh, City Purchasing Agent, in writing, of all potential conflicts of interest for any prospective business association, interest, or other circumstance which may influence or appear to influence the Proposer's judgment or quality of services being provided. Such written notification shall identify the prospective business association, interest or circumstance, the nature of which the Proposer may undertake and request an opinion to the City as to whether the association, interest or circumstance would, in the opinion of the City, constitute a conflict of interest if entered into by the Proposer. The City agrees to communicate with the Proposer its opinion via e-mail or first-class mail within thirty days of receipt of notification. 8. WITHDRAWAL OF PROPOSAL: A proposal may be withdrawn prior to the time set for the proposal submittal based on a written request from an authorized representative of the firm; however, a proposal shall not be withdrawn after the time set for the proposal. City of Fayetteville, AR RFP 20-05, Appraisal Services Page 6 of 21 9. LATE PROPOSAL OR MODIFICATIONS: Proposal and modifications received after the time set for the proposal submittal shall not be considered. Modifications in writing received prior to the deadline will be accepted. The City will not be responsible for misdirected bids. Proposers should call the Purchasing Division at (479) 575-8220 to insure receipt of their submittal documents prior to opening time and date listed. b. The time set for the deadline shall be local time for Fayetteville, AR on the date listed. All proposals shall be received in the Purchasing Division BEFORE the deadline stated. The official clock to determine local time shall be the atomic clock located in the Purchasing Division, Room 306 of City Hall, 113 W. Mountain, Fayetteville, AR. 10. LOCAL, STATE, AND FEDERAL COMPLIANCE REQUIREMENTS: a. The laws of the State of Arkansas apply to any purchase made under this request for proposal. Proposers shall comply with all local, state, and federal directives, orders and laws as applicable to this proposal and subsequent contract(s) including but not limited to Equal Employment Opportunity (EEO), Disadvantaged Business Enterprises (DBE), & OSHA as applicable to this contract. Pursuant to Arkansas Code Annotated §22-9-203 The City of Fayetteville encourages all qualified small, minority and women business enterprises to bid on and receive contracts for goods, services, and construction. Also, City of Fayetteville encourages all general contractors to subcontract portions of their contract to qualified small, minority and women business enterprises. 11. PROVISION FOR OTHER AGENCIES: Unless otherwise stipulated by the Proposer, the Proposer agrees to make available to all Government agencies, departments, municipalities, and counties, the proposal prices submitted in accordance with said proposal terms and conditions therein, should any said governmental entity desire to buy under this proposal. Eligible users shall mean all state of Arkansas agencies, the legislative and judicial branches, political subdivisions (counties, local district school boards, community colleges, municipalities, counties, or other public agencies or authorities), which may desire to purchase under the terms and conditions of the contract. 12. COLLUSION: The Proposer, by affixing his or her signature to this proposal, agrees to the following: "Proposer certifies that his proposal is made without previous understanding, agreement, or connection with any person, firm or corporation making a proposal for the same item(s) and/or services and is in all respects fair, without outside control, collusion, fraud, or otherwise illegal action." 13. RIGHT TO AUDIT, FOIA, AND JURISDICITON: a. The City of Fayetteville reserves the privilege of auditing a vendor's records as such records relate to purchases between the City and said vendor. City of Fayetteville, AR RFP 20-05, Appraisal Services Page 7 of 21 Freedom of Information Act: City contracts and documents prepared while performing City contractual work are subject to the Arkansas Freedom of Information Act. If a Freedom of Information Act request is presented to the City of Fayetteville, the (contractor) will do everything possible to provide the documents in a prompt and timely manner as prescribed in the Arkansas Freedom of Information Act (A.C.A. §25-19-101 et. seq.). Only legally authorized photocopying costs pursuant to the FOIA may be assessed for this compliance. c. Legal jurisdiction to resolve any disputes shall be Arkansas with Arkansas law applying to the case. 14. CITY INDEMNIFICATION: The successful Proposer(s) agrees to indemnify the City and hold it harmless from and against all claims, liability, loss, damage or expense, including but not limited to counsel fees, arising from or by reason of any actual or claimed trademark, patent or copyright infringement or litigation based thereon, with respect to the services or any part thereof covered by this order, and such obligation shall survive acceptance of the services and payment thereof by the City. 15. VARIANCE FROM STANDARD TERMS & CONDITIONS: All standard terms and conditions stated in this request for proposal apply to this contract except as specifically stated in the subsequent sections of this document, which take precedence, and should be fully understood by Proposers prior to submitting a proposal on this requirement. 16. ADA REQUIREMENT FOR PUBLIC NOTICES & TRANSLATION: Persons with disabilities requiring reasonable accommodation to participate in this proceeding/event, should call 479.521.1316 (telecommunications device for the deaf), not later than seven days prior to the deadline. Persons needing translation of this document shall contact the City of Fayetteville, Purchasing Division, immediately. 17. CERTIFICATE OF INSURANCE: The successful Proposer shall provide a Certificate of Insurance in accordance with specifications listed in this request for proposal, prior to commencement of any work. Such certificate shall list the City of Fayetteville as an additional insured. Insurance shall remain valid throughout project completion. 18. PAYMENTS AND INVOICING: The Proposer must specify in their proposal the exact company name and address which must be the same as invoices submitted for payment as a result of award of this RFP. Further, the successful Proposer is responsible for immediately notifying the Purchasing Division of any company name change, which would cause invoicing to change from the name used at the time of the original RFP. Payment will be made within thirty days of invoice received. The City of Fayetteville is very credit worthy and will not pay any interest or penalty for untimely payments. Payments can be processed through Proposer's acceptance of Visa at no additional costs to the City for expedited payment processing. The City will not agree to allow any increase in hourly rates by the contract without PRIOR Fayetteville City Council approval. 19. CANCELLATION: City of Fayetteville, AR RFP 20-05, Appraisal Services Page 8 of 21 a. The City reserves the right to cancel this contract without cause by giving thirty (30) days prior notice to the Contractor in writing of the intention to cancel or with cause if at any time the Contractor fails to fulfill or abide by any of the terms or conditions specified. Failure of the contractor to comply with any of the provisions of the contract shall be considered a material breach of contract and shall be cause for immediate termination of the contract at the discretion of the City of Fayetteville. In addition to all other legal remedies available to the City of Fayetteville, the City reserves the right to cancel and obtain from another source, any items and/or services which have not been delivered within the period of time from the date of order as determined by the City of Fayetteville. d. In the event sufficient budgeted funds are not available for a new fiscal period, the City shall notify the vendor of such occurrence and contract shall terminate of the last day of the current fiscal period without penalty or expense to the City. 20. ASSIGNMENT, SUBCONTRACTING, CORPORATE ACQUISITIONS AND/OR MERGERS: a. The Contractor shall perform this contract. No assignment of subcontracting shall be allowed without prior written consent of the City. If a Proposer intends to subcontract a portion of this work, the Proposer shall disclose such intent in the proposal submitted as a result of this RFP. In the event of a corporate acquisition and/or merger, the Contractor shall provide written notice to the City within thirty (30) calendar days of Contractor's notice of such action or upon the occurrence of said action, whichever occurs first. The right to terminate this contract, which shall not be unreasonably exercised by the City, shall include, but not be limited to, instances in which a corporate acquisition and/or merger represent a conflict of interest or are contrary to any local, state, or federal laws. Action by the City awarding a proposal to a firm that has disclosed its intent to assign or subcontract in its response to the RFP, without exception shall constitute approval for purpose of this Agreement. 21. NON-EXCLUSIVE CONTRACT: Award of this RFP shall impose no obligation on the City to utilize the vendor for all work of this type, which may develop during the contract period. This is not an exclusive contract. The City specifically reserves the right to concurrently contract with other companies for similar work if it deems such an action to be in the City's best interest. In the case of multiple -phase contracts, this provision shall apply separately to each item. 22. LOBBYING: Lobbying of selection committee members, City of Fayetteville employees, or elected officials regarding request for proposals, request for qualifications, bids or contracts, during the pendency of bid protest, by the bidder/proposer/protestor or any member of the bidder's/proposer's/protestor's staff, and agent of the bidder/proposer/protestor, or any person employed by any legal entity affiliated with or representing an organization that is responding to the request for proposal, request for qualification, bid or contract, or has a pending bid protest is strictly prohibited either upon advertisement or on a date established by the City of Fayetteville and shall be prohibited until either an award is final or the protest is finally resolved by the City City of Fayetteville, AR RFP 20-05, Appraisal Services Page 9 of 21 of Fayetteville; provided, however, nothing herein shall prohibit a prospective/bidder/proposer from contacting the Purchasing Division to address situations such as clarification and/or questions related to the procurement process. For purposes of this provision lobbying activities shall include but not be limited to, influencing or attempting to influence action or non -action in connection with any request for proposal, request for qualification, bid or contract through direct or indirect oral or written communication or an attempt to obtain goodwill of persons and/or entities specified in this provision. Such actions may cause any request for proposal, request for qualification, bid or contract to be rejected. 23. ADDITIONAL REQUIREMENTS: The City reserves the right to request additional services relating to this RFP from the Proposer. When approved by the City as an amendment to the contract and authorized in writing prior to work, the Contractor shall provide such additional requirements as may become necessary. 24. SERVICES AGREEMENT: A written agreement, in substantially the form attached, incorporating the RFP and the successful proposal will be prepared by the City, signed by the successful Proposer and presented to the City of Fayetteville for approval and signature of the Mayor. 25. INTEGRITY OF REQUEST FOR PROPOSAL (RFP) DOCUMENTS: Proposers shall use the original RFP form(s) provided by the Purchasing Division and enter information only in the spaces where a response is requested. Proposers may use an attachment as an addendum to the RFP form(s) if sufficient space is not available on the original form for the Proposer to enter a complete response. Any modifications or alterations to the original RFP documents by the Proposer, whether intentional or otherwise, will constitute grounds for rejection of such RFP response. Any such modifications or alterations a Proposer wishes to propose shall be clearly stated in the Proposer's RFP response and presented in the form of an addendum to the original RFP documents. 26. OTHER GENERAL CONDITIONS: Proposers must provide the City with their proposals signed by an employee having legal authority to submit proposals on behalf of the Proposer. The entire cost of preparing and providing responses shall be borne by the Proposer. b. The City reserves the right to request any additional information it deems necessary from any or all Proposers after the submission deadline. c. This solicitation is not to be construed as an offer, a contract, or a commitment of any kind; nor does it commit the city to pay for any costs incurred by Proposer in preparation. It shall be clearly understood that any costs incurred by the Proposer in responding to this request for proposal is at the Proposer's own risk and expense as a cost of doing business. The City of Fayetteville shall not be liable for reimbursement to the Proposer for any expense so incurred, regardless of whether or not the proposal is accepted. City of Fayetteville, AR RFP 20-05, Appraisal Services Page 10 of 21 d. If products, components, or services other than those described in this solicitation document are proposed, the Proposer must include complete descriptive literature for each. All requests for additional information must be received within five working days following the request. e. Any uncertainties shall be brought to the attention to Les McGaugh immediately via telephone (479.57S.8220) or e-mail (Imcgaugh@fayetteville-ar.gov). It is the intent and goal of the City of Fayetteville Purchasing Division to provide documents providing a clear and accurate understanding of the scope of work to be completed and/or goods to be provided. We encourage all interested parties to ask questions to result in all Proposers being on equal terms. Any inquiries or requests for explanation in regard to the City's requirements shall be made promptly to Les McGaugh, City of Fayetteville, Purchasing Agent via e-mail (Imcgaugh@fayetteville-ar.gov) or telephone (479.575.8220). No oral interpretation or clarifications will be given as to the meaning of any part of this request for proposal. All questions, clarifications, and requests, together with answers, if any, will be provided to all firms via written addendum. Names of firms submitting any questions, clarifications, or requests will not be disclosed until after a contract is in place. g. At the discretion of the City, one or more firms may be asked for more detailed information before final ranking of the firms, which may also include oral interviews. Any information provided herein is intended to assist the Proposer in the preparation of proposals necessary to properly respond to this RFP. The RFP is designed to provide qualified Proposers with sufficient basic information to submit proposals meeting minimum specifications and/or test requirements, but is not intended to limit a RFP's content or to exclude any relevant or essential data. Proposers irrevocably consent that any legal action or proceeding against it under, arising out of or in any manner relating to this Contract shall be controlled by Arkansas law in Washington County. Proposer hereby expressly and irrevocably waives any claim or defense in any said action or proceeding based on any alleged lack of jurisdiction or improper venue or any similar basis. The successful Proposer shall not assign the whole or any part of this Contract or any monies due or to become due hereunder without written consent of City of Fayetteville. In case the successful Proposer assigns all or any part of any monies due or to become due under this Contract, the Instrument of assignment shall contain a clause substantially to the effect that is agreed that the right of the assignee in and to any monies due or to become due to the successful Proposer shall be subject to prior liens of all persons, firms, and corporations for services rendered or materials supplied for the performance of the services called for in this contract. The successful Proposer's attention is directed to the fact that all applicable Federal and State laws, municipal ordinances, and the rules and regulations of all authorities having jurisdiction over the services shall apply to the contract throughout, and they will be deemed to be included in the contract as though written out in full herein. The successful Proposer shall keep himself/herself fully informed of all laws, ordinances and regulations of the Federal, State, and municipal governments or authorities in any manner affecting those engaged or employed in providing these services or in any way affecting the conduct of the services and of all orders and decrees of bodies or tribunals having any jurisdiction or authority over same. If any discrepancy or inconsistency City of Fayetteville, AR RFP 20-05, Appraisal Services Page 11 of 21 should be discovered in these Contract Documents or in the specifications herein referred to, in relation to any such law, ordinance, regulation, order or decree, s/he shall herewith report the same in writing to the City of Fayetteville. 27. CONTRACT REQUIREMENTS: Any contract between the successful proposer and the City shall include the following: a. Indemnification: The awarded Proposer shall indemnify and hold harmless City of Fayetteville and their agents and employees from and against all claims, damages, losses and expenses including attorneys' fees arising out of or resulting from the performance of the services, provided that any such claims, damage, loss or expense is attributable to bodily injury, sickness, disease or death, or to injury to or destruction of tangible property, including the loss of use resulting there from; and is caused in whole or in part by any negligent or willful act or omission of the successful Proposer and anyone directly or indirectly employed by him/her or anyone for whose acts any of them may be liable. In any and all claims against City of Fayetteville or any of their agents or employees, by any employee of the successful Proposer, directly or indirectly employed by him/her, or anyone for whose acts any of them may be liable, the indemnification obligation shall not be limited in any way by any limitation on the amount or type of damages, compensation or benefits payable by or for the successful Proposer or under the Workers' Compensation Acts, Disability Benefits Acts or other employee benefits acts. b. Suspension or Termination of Services: City of Fayetteville or awarded Proposer shall have the right to terminate this agreement at any time upon thirty (30) days advance written notice to the other party of its intention to terminate. c. Laws and Regulations: The successful Proposer's attention is directed to the fact that all applicable Federal and State laws, municipal ordinances, and the rules and regulations of all authorities having jurisdiction over the services shall apply to the contract throughout, and they will be deemed to be included in the contract as though written out in full herein. The successful Proposer shall keep himself/herself fully informed of all laws, ordinances and regulations of the Federal, State, and municipal governments or authorities in any manner affecting those engaged or employed in providing these services or in any way affecting the conduct of the services and of all orders and decrees of bodies or tribunals having any jurisdiction or authority over same. If any discrepancy or inconsistency should be discovered in these Contract Documents or in the specifications herein referred to, in relation to any such law, ordinance, regulation, order or decree, s/he shall herewith report the same in writing to City of Fayetteville. Proposer shall at all times observe and comply with all such existing and future laws, ordinances and regulations, and shall protect and indemnify City of Fayetteville and its agents against the violation of any such law, ordinance, regulation, order or decree, whether by himself/herself or by his/her employees. Licenses of a temporary nature, necessary for the prosecution of the services shall be secured and paid for by the successful Proposer. d. Assignments: The successful Proposer shall not assign the whole or any part of this Contract or any monies due or to become due hereunder without written consent of City of Fayetteville. In case the successful Proposer assigns all or any part of any monies due or to become due under this Con- tract, the Instrument of assignment shall contain a clause substantially to the effect that is agreed City of Fayetteville, AR RFP 20-05, Appraisal Services Page 12 of 21 that the right of the assignee in and to any monies due or to become due to the successful Proposer shall be subject to prior liens of all persons, firms, and corporations for services rendered or materials supplied for the performance of the services called for in this contract. e. Insurance: The successful Proposer shall not commence work under this contract until all insurance described below has been obtained, certificate listing the City as an additional insured, and such insurance has been approved by City of Fayetteville. Premiums for all insurance policies required shall be the responsibility of the Proposer. It is the City's intent to be listed as an additional insured with the final Proposer after contract award. Proposer should submit current insurance coverages with RFP submittal. f. Payments: If the Consultant has made application for payment as above, the Project Manager will issue a request for payment to the Accounting Department for such amount as is determined to be properly due, or state in writing the itemized and specific reasons for withholding a payment. The City intends to pay accepted invoice within thirty (30) calendar days. No payment shall constitute an acceptance of any services not in accordance with the Contract Documents. i. Final payment: Upon receipt of written notice from the Consultant that all contracted services are complete, the Project Manager will, within a reasonable time, review all services and reports. If the Project Manager finds the services and reports of the Consultant complete and acceptable in accordance with the provisions of the Contract Documents, s/he shall, within a reasonable time, process a pay request so that final payment can be made. The acceptance of final payment shall constitute a waiver of all claims by the Consultant except those previously made in writing and still unsettled. g. Freedom of Information Act: City of Fayetteville contracts and documents prepared while performing city contractual work are subject to the Arkansas Freedom of Information Act. If a Freedom of Information Act request is presented to the City of Fayetteville, the contractor will do everything possible to provide the documents in a prompt and timely manner as prescribed in the Arkansas Freedom of Information Act (A.C.A. 25-19-101 et. Seq.). Only legally authorized photo coping costs pursuant to the FOIA may be assessed for this compliance. h. Changes in Scope or Price: Changes, modifications, or amendments in scope, price or fees to this contract shall not be allowed without a prior formal contract amendment approved by the Mayor and the City Council in advance of the change in scope, cost or fees. 28. APPENDIX DOCUMENTS: The appendix documents below are included as part of this RFP: N/A City of Fayetteville, AR RFP 20-05, Appraisal Services Page 13 of 21 City of Fayetteville RFP 20-05, Appraisal Services SECTION B: Vendor References The following information is required from all firms so all statements of qualification may be reviewed and properly evaluated: COMPANY NAME: Rife & Company Appraisers NUMBER OF YEARS IN BUSINESS: 47 HOW LONG IN PRESENT LOCATION: 10 yrs TOTAL NUMBER OF CURRENT EMPLOYEES: 3 FULL TIME PART TIME NUMBER OF EMPLOYEES PLANNED FOR THIS CONTRACT: 3 FULL TIME PART TIME PLEASE LIST FOUR (4) REFERENCES THAT YOU HAVE PREVIOUSLY PERFORMED CONTRACT SERVICES FOR WITHIN THE PAST FIVE (5) YEARS (All fields must be completed): 1. Benton County Assessor 2. Coates COMPANY NAME COMPANY NAME Bentonville, AR 72712 Oklahoma City, OK 73125 CITY, STATE, ZIP CITY, STATE, ZIP Roderick Grieve Carl Wittkorn, Right -of -Way Agent CONTACT PERSON CONTACT PERSON 479-271-1037 4174293916 TELEPHONE TELEPHONE FAX NUMBER FAX NUMBER Roderick.Grieve@BentonCounty.gov cwittkorn@hotmail.com E-MAIL ADDRESS E-MAIL ADDRESS 3. Allgeier, Martin & Associates, Inc 4 City of Fayetteville COMPANY NAME COMPANY NAME Joplin, MO 64803 Fayetteville, AR 72701 CITY, STATE, ZIP CITY, STATE, ZIP Darrell G. Wilson, SRWA Holly Jones, Land Agent CONTACT PERSON CONTACT PERSON 417-680-7251 479-444-3414 TELEPHONE TELEPHONE FAX NUMBER FAX NUMBER Darrell.Wilson@AMCE.com HJones @fayetteville-ar.gov E-MAIL ADDRESS E-MAIL ADDRESS City of Fayetteville, AR RFP 20-05, Appraisal Services Page 14 of 21 City of Fayetteville RFP 20-05, Appraisal Services SECTION C: Scope of Services and General Information 1. PURPOSE: The City of Fayetteville, Arkansas is accepting proposals from qualified licensed appraisers and/or firms specializing in the appraisal of real property for the City on as needed basis. The City intends to select one or more licensed professionals on contract for real property appraisal and easement acquisition services. The primary need for appraisals is related to land acquisition (including easements), however appraisals for other reasons may also be conducted under the resulting contract. The successful firm(s) shall provide all labor, supervision, and materials required to perform the appraisal work. In addition, the successful firm(s) shall provide consulting work as it relates to real estate appraisal services, as needed. The City intends to award a one (1) year contract with up to four (4) additional one (1) year renewal periods. It is the City's intent to award contracts to a pool of providers for these services, while establishing a primary firm, secondary firm, etc. Firms may submit proposals for residential appraisal services and/or commercial appraisal services. The number of firms awarded will depend on the quality and quantity of proposals received. Upon the established need for the City to conduct an appraisal or easement acquisition, the City will contact the primary vendor first, secondary vendor next, etc. Each project will vary depending on need. The City reserves the right to use other third parties if the City determines that it is in its best interest to do so. The City also reserves the right to hire as many appraisers as it deems appropriate for a specific project. It is the City's intent for this RFP to permit competition. It shall be the Proposer's responsibility to advise the Purchasing Agent in writing if any language, requirement, specification, etc., or any combination thereof, inadvertently restricts or limits the requirements stated in this RFP to a single source. Such notification must be received by the Purchasing Agent not later than seven (7) calendar days prior to the deadline set for proposal response. Questions from interested parties shall be submitted to Les McGaugh, City Purchasing Agent, no later than 4:00 PM, Thursday January 18, 2018 via e-mail to Imcgaugh@favetteville-ar.gov. 2. MINIMUM REQUIREMENTS: The City of Fayetteville requires Proposers to meet all the following minimum requirements listed below. Proposers must demonstrate capacity and available resources to provide the materials and services as described and offered under the appraisal industry. • be properly licensed with the Arkansas Appraiser Licensing & Certification Board; • be properly licensed with the Arkansas Secretary of State; and • be able to obtain insurance coverage of $1 million General Liability and $1 million Professional Liability, per occurrence 3. PROPOSAL SUBMITTAL REQUIREMENTS: The Proposer is responsible for providing sufficient detail and supporting documentation, where applicable, in the proposal. The City is not obligated to and will not reimburse any Proposer costs incurred in the preparation and submission of proposals. Each proposal must contain the following elements. City of Fayetteville, AR RFP 20-05, Appraisal Services Page 15 of 21 a. A minimum of three (3) references with which a proposed team member individually and/or Proposing firm has previously conducted business. Include the names, addresses, and telephone numbers of each agency's representative. References from governmental agencies are preferred. b. A brief summary describing the process employed by your company when appraising fee simple title and easement interests in a property for a governmental agency. c Ability to meet/exceed scope of services contained herein • Provide an overview of firm's current workload • What priority will be assigned to City projects? • Describe the staffing available to respond to City's requests on an as needed basis. Describe how your firm will respond to "as needed" projects. • Describe your firm's past experience meeting required timelines and deadlines. In some instances, time is of the essence where situations exist to expedite appraisals. Explain how these instances would be addressed. • Describe in detail any potential conflicts of interest your firm may have if awarded this contract. d. Related experience and credentials of the firm and the individuals to conduct appraisals. • All offerors shall include with their proposals, a list of at least three (3) current references for whom comparable work has been performed. This shall include company name, person to contact, address, telephone number, fax number, e-mail address, and the nature of work performed. Failure to include references may be cause for rejection of proposal as non -responsive. •A history of experience in providing appraisal services to state and local governments within the greater Northwest Arkansas area, specifically regarding the acquisition of fee title or easements for right-of-way purposes, public open space, public facilities, or public access. • List key professional staff to be assigned work under this contract and describe their experience as team members, emphasizing their experience in working with similar projects and local governments. • Include a narrative of the typical appraisal procedure used in determining property valuation and a sample appraisal report *Arkansas Real Estate Appraiser license number; and • A listing of any violations of the Appraisal Act or governing standards found justified by the Arkansas Appraiser Licensing and Certification Board within the past ten (10) years or since 11112010. e. The name of one individual who will act as coordinator or primary contact for Consultant to resolve any and all issues that may arise during the term of the contract. 4. SCOPE OF WORK: The scope of work in this section has been provided to communicate what the City believes is critical for the success of ongoing needs. The City invites Proposers to provide different approaches as appropriate based on services offered. Proposers are invited to include all strategies and processes listed below, or only to those specific to the proposing firm. a. Real estate appraisal services on an as needed basis throughout the Contract period. b. Cost estimate for the requested appraisal report based on contracted rates within time agreed upon with the City. c Proposer(s) shall disclose any potential conflict of interest that it may have prior to commencing any appraisal services d Work conducted shall conform to the latest edition of the nationally recognized Uniform Standards of Professional Appraisal Practice (USPAP) and the most recently established Rules and Regulations of the State of Arkansas Appraiser Licensing and Certification Board. City of Fayetteville, AR RFP 20-05, Appraisal Services Page 16 of 21 e. Begin work after the receipt of a City issued Purchase Order, f. Each appraisal report shall be delivered to the City within the agreed upon schedule after authorization to proceed g. Deliver all requested work within twenty-one (21) calendar days unless specifically agreed to otherwise in writing by the City. h. Provide any other needed real estate appraisal consulting services to the City as requested. i All appraisal reports should be available upon request as deemed necessary to complete an individual project by the City. Details in reports shall be industry standard or as agreed upon with the City for each project. • Determining values related to a proposed right of way • Determining values of permanent utility easements, temporary and construction easements • Determining values of other damage as the result of City land acquisition • Before and after appraisals • Fee simple, easement, etc PROPOSED FEES: Provide a description of how fees would be charged (e.g., by the hour, per service, etc.) and the offered fees to provide the services offered. Proposed prices and fees shall include all costs associated with the performance of the services specified, including materials, supervision, labor, insurance, transportation, delivery, fuel or other surcharges, demurrage, and related costs. Charges not listed in the RFP response will not be allowed. All prices and fees must be in U. S. dollars. • If offering services at an hourly rate, list any differing hourly rates for each type of service such as residential appraisal, commercial or industrial appraisal, or by staff member if rate is different for each. • State whether hourly rates include all costs to the City or itemize and price any other charges not included in the hourly rates. • If offering prices "per service" or by some other method, itemize and price each type of service and/or all costs to the City to perform the appraisal as specified. • Itemize and price any new or additional service not previously listed but offered as regular and routine services. a. Fees proposed are extremely important; however, fees will not be the determining factor in the selection process. It is not the intent of the City of Fayetteville to limit innovative solutions by dollar constraints, but rather to determine which proposal has the potential of providing the best value for the services required. b. City of Fayetteville shall not be liable for any expense incurred while preparing a response to this document. In addition, City of Fayetteville shall reserve the right to accept any part or the Proposer's entire fee schedule and to negotiate any charges contained therein, unless otherwise qualified by the Proposer. 6. PROPOSAL CONTENT: a. Proposals shall be prepared simply and economically, providing a straight forward, concise description its ability to meet the requirements for the project. Fancy bindings, colored displays, and promotional material are not required. Emphasis should be on completeness and clarity of content. All documents should be typewritten on standard 8 %" x 11" white papers and bound in one volume. Exceptions would be schematics, exhibits, one -page resumes, and City required forms. Limit proposal to twenty- five (25) pages or less, City of Fayetteville, AR RFP 20-05, Appraisal Services Page 17 of 21 excluding one -page team resumes, references, and forms required by the City for completion. All proposals shall be sealed upon delivery to the City of Fayetteville b. All Proposers shall submit six (6) sets of their proposal as well as one (1) electronic copy on a properly labeled CD or other electronic media device. The electronic copy submitted shall be contained into one electronic file and shall be identical to the hard copies provided. The use of Adobe PDF documents is strongly recommended. Files contained on the CD or electronic media shall not be restricted against saving or printing. Electronic copies shall not be submitted via e-mail to City employees by the Proposer and shall be provided to the City in a sealed manner. FedEx, UPS, USPS, or other packages should be clearly marked with the RFP number on the outside of the mailingpackage. 7. NEGOTIATIONS: If the negotiation produces mutual agreement, one or more contracts could be considered for approval by the City Council. If negotiations with the highest-ranking Proposer fail, negotiations may be initiated with the next highest-ranking Proposer until an agreement is reached. The City reserves the right to reject all offers and end the process without executing a contract. 8. SELECTION CRITERIA: The following criteria will be used by the committee to evaluate and score responsive proposals. Proposers shall include sufficient information to allow the committee to thoroughly evaluate and score the proposal. City of Fayetteville reserves the right to accept a proposal, as submitted, and enter directly into a contractual agreement with a selected Proposer. Each proposal submitted is not required to be ranked by the selection committee; however, all proposals will be evaluated. The contract may be awarded to the most qualified firm for each process or strategy, per the evaluation criteria listed below, based on the evaluation and voting of the selection committee. Following the evaluation of the proposals, the Selection Committee may request that the top-ranking firm(s) make an oral presentation, be interviewed or submit best and final offers. If presentations are necessary, they will take place in Fayetteville, Arkansas. Notices will be sent by the Purchasing Division. 1) 30%- Qualifications in Relation to Specific Project to be Performed: Information reflecting qualifications of the firm. Indicated specialized experience and technical competence of the firm in connection with the type and complexity of the service required. Subcontractors, if used, must be listed with RFP response. 2) 25% - Experience, Competence, and Capacity for Performance: Including information reflecting the names, titles, and qualifications (including experience and technical competence) of the major personnel assigned to this specific project. 3) 20%- Proposed Method of Doing Work: A proposed work plan (description of how the project would be conducted as well as other facts concerning approach to scope you wish to present) indicating methods and schedules for accomplishing scope of work. Include with this the amount of work presently underway. 4) 15% - Past Performance: Previous evaluations shall be considered a significant factor. If previous evaluations with the City are not available, the professional firm's past performance records with other governmental agencies, and others will be used, including quality of work, timely performance, diligence, and any other pertinent information. Firm shall provide a list of similar jobs performed and person whom the City can contact for information. 5) 10% - Cost and Fees: Proposer shall provide a total listing of any fee the City could be charged. A fee shall be included for the presented scope of work as well as any other additional fee. All fees shall be clearly identified with RFP response and be itemized as much as possible. City of Fayetteville, AR RFP 20-05, Appraisal Services Page 18 of 21 9. RENEWABLE TERMS: The initial term of this Agreement shall be for one (1) year. The Agreement shall automatically renew for up to four (4) additional one (1) year terms unless either party provides notice of non - renewal at least thirty (30) days prior to the end of a term. Annual renewals shall be subject to annual budget approval by the City Council. City of Fayetteville, AR RFP 20-05, Appraisal Services Page 19 of 21 City of Fayetteville RFP 20-05, Appraisal Services SECTION D: Signature Submittal — Required with all responses Proposers shall include this form completed in its entirety with RFP response. This form shall not count towards oaee limitations set forth in the RFP. 1. DISCLOSURE INFORMATION Proposer shall disclose any possible conflict of interest with the City of Fayetteville, including, but not limited to, any relationship with any City of Fayetteville employee. Proposer response must disclose if a known relationship exists between any principal or employee of your firm and any City of Fayetteville employee or elected City of Fayetteville official. If, to your knowledge, no relationship exists, this should also be stated in your response. Failure to disclose such a relationship may result in cancellation of a purchase and/or contract as a result of your response. This form must be completed and returned in order for your bid/proposal to be eligible for consideration. PLEASE CHECK ONE OF THE FOLLOWING TWO OPTIONS, AS IT APPROPRIATELY APPLIES TO YOUR FIRM: V 1) NO KNOWN RELATIONSHIP EXISTS 2) RELATIONSHIP EXISTS (Please explain): I certify that; as an officer of this organization, or per the attached letter of authorization, am duly authorized to certify the information provided herein are accurate and true; and my organization shall comply with all State and Federal Equal Opportunity and Non -Discrimination requirements and conditions of employment. 2. PRIMARY CONTACT INFORMATION At the discretion of the City, one or more firms may be asked for more detailed information before final ranking of the firms, which may also include oral interviews. NOTE: Each Proposer shall submit to the City a primary contact name, e-mail address, and phone number (preferably a cell phone number) where the City selection committee can call for clarification or interview via telephone. Corporate Name of Firm: Rife & Company, Inc. Primary Contact: Thomas G. Rife Phone#1 (cell preferred): 479 936 6806 E-Mail Address: tomrife@aol.com Title of Primary Contact: Owner Phone#2: 479 841 7856 3. ACKNOWLEDGEMENT OF ADDENDA Acknowledge receipt of addenda for this invitation to bid, request for proposal, or request for qualification by signing and dating below. All addendums are hereby made a part of the bid or RFP documents to the same extent as though it were originally included therein. Proposers/Bidders should indicate their receipt of same in the appropriate blank listed herein. Failure to do so may subject vendor to disqualification. City of Fayetteville, AR RFP 20-05, Appraisal Services Page 20 of 21 ADDENDUM NO. SIGNATURE AND PRINTED NAME DATE ACKNOWLEDGED 1 Thomas G. Rife 04/24/2020 4. PRICING: Pricing shall be attached as a separate form. Reference RFP for details on what all pricing shall include. 5. DEBARMENT CERTIFICATION: As an interested party on this project, you are required to provide debarment/suspension certification indicating in compliance with the below Federal Executive Order. Certification can be done by completing and signing this form. Federal Executive Order (E.O.) 12549 "Debarment and Suspension" requires that all contractors receiving individual awards, using federal funds, and all sub -recipients certify that the organization and its principals are not debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded by any Federal department or agency from doing business with the Federal Government. Signature certifies that neither you nor your principal is presently debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded from participation in this transaction by any federal department or agency. Questions regarding this form should be directed to the City of Fayetteville Purchasing Division. NAME OF COMPANY: Rife & Company, Inc. PHYSICAL ADDRESS: 1001 North Walton Boulevard, Bentonville, AR 72712 MAILING ADDRESS: 1001 North Walton Boulevard, Bentonville, AR 72712 PRINTED NAME: Thomas G. Rife MAI, SRA, AI-GRS PHONE: 479-273-7406 or 479-936-6806 FAX: E-MAIL: tomrife@aol.com SIGNATURE:-� TITLE: Owner DUNS#: 82-749-2620 City of Fayetteville, AR RFP 20-05, Appraisal Services Page 21 of 21 DATE: 04/24/2020 TAX ID: 71-0838415 City of Fayetteville RFP 20-05, Appraisal Services SECTION D: Signature Submittal — Required with all responses Proposers shall include this form completed in its entirety with RFP response. This form shall not count towards page limitations set forth in the RFP. 1. DISCLOSURE INFORMATION Proposer shall disclose any possible conflict of interest with the City of Fayetteville, including, but not limited to, any relationship with any City of Fayetteville employee. Proposer response must disclose if a known relationship exists between any principal or employee of your firm and any City of Fayetteville employee or elected City of Fayetteville official. If, to your knowledge, no relationship exists, this should also be stated in your response. Failure to disclose such a relationship may result in cancellation of a purchase and/or contract as a result of your response. This form must be completed and returned in order for your bid/proposal to be eligible for consideration. PLEASE CHECK ONE OF THE FOLLOWING TWO OPTIONS, AS IT APPROPRIATELY APPLIES TO YOUR FIRM: 1) NO KNOWN RELATIONSHIP EXISTS 2) RELATIONSHIP EXISTS (Please explain): I certify that; as an officer of this organization, or per the attached letter of authorization, am duly authorized to certify the information provided herein are accurate and true; and my organization shall comply with all State and Federal Equal Opportunity and Non -Discrimination requirements and conditions of employment. 2. PRIMARY CONTACT INFORMATION At the discretion of the City, one or more firms may be asked for more detailed information before final ranking of the firms, which may also include oral interviews. NOTE: Each Proposer shall submit to the City a primary contact name, e-mail address, and phone number (preferably a cell phone number) where the City selection committee can call for clarification or interview via telephone. Corporate Name of Firm: Rife & Company, Inc. Primary ContactThomas G. Rife Phone#1 (cell preferred): 479 936 6806 E-Mail Address: tomrife@aol.com Title of Primary Contact: Owner Phone#2: 479 841 7856 3. ACKNOWLEDGEMENT OF ADDENDA Acknowledge receipt of addenda for this invitation to bid, request for proposal, or request for qualification by signing and dating below. All addendums are hereby made a part of the bid or RFP documents to the same extent as though it were originally included therein. Proposers/Bidders should indicate their receipt of same in the appropriate blank listed herein. Failure to do so may subject vendor to disqualification. City of Fayetteville, AR RFP 20-05, Appraisal Services Page 20 of 21 ADDENDUM NO. SIGNATURE AND PRINTED NAME DATE ACKNOWLEDGED Thomas G Rife 04/24/2020 4. PRICING: Pricing shall be attached as a separate form. Reference RFP for details on what all pricing shall include. 5. DEBARMENT CERTIFICATION: As an interested party on this project, you are required to provide debarment/suspension certification indicating in compliance with the below Federal Executive Order. Certification can be done by completing and signing this form. Federal Executive Order (E.O.) 12549 "Debarment and Suspension" requires that all contractors receiving individual awards, using federal funds, and all sub -recipients certify that the organization and its principals are not debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded by any Federal department or agency from doing business with the Federal Government. Signature certifies that neither you nor your principal is presently debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded from participation in this transaction by any federal department or agency. Questions regarding this form should be directed to the City of Fayetteville Purchasing Division. NAME OF COMPANY: Rife & Company Appraisers PHYSICAL ADDRESS: 1001 North Walton Boulevard, Bentonville, AR 72712 MAILING ADDRESS: 1001 North Walton Boulevard, Bentonville, AR 72712 PRINTED NAME: Thomas G. Rife MAI, SRA, AI-GRS PHONE: 479 936 6806 E-MAIL: tomrife@aol.com SIGNATURE: / t&m., � TITLE: Owner DUNS#: 82-749-2620 City of Fayetteville, AR RFP 20-05, Appraisal Services Page 21 of 21 FAX: DATE: 04/24/2020 TAX ID: 71-0838415 City of Fayetteville RFP 20-05, Appraisal Services SECTION B: Vendor References The following information is required from all firms so all statements of qualification may be reviewed and properly evaluated: COMPANY NAME: Rife & Company Appraisers NUMBER OF YEARS IN BUSINESS: 47 HOW LONG IN PRESENT LOCATION: 10 TOTAL NUMBER OF CURRENT EMPLOYEES: 3 FULL TIME PART TIME NUMBER OF EMPLOYEES PLANNED FOR THIS CONTRACT: 3 FULL TIME PART TIME PLEASE LIST FOUR (4) REFERENCES THAT YOU HAVE PREVIOUSLY PERFORMED CONTRACT SERVICES FOR WITHIN THE PAST FIVE (5) YEARS (All fields must be comoleted): 1. Benton County Assessor Z, City of Fayetteville COMPANY NAME COMPANY NAME Bentonville, AR 72712 Fayetteville, AR 72701 CITY, STATE, ZIP CITY, STATE, ZIP Roderick Grieve, Benton County Assessor Holly Jones, Land Agent CONTACT PERSON CONTACT PERSON 479-271-1037 479-444-3414 TELEPHONE TELEPHONE FAX NUMBER FAX NUMBER Roderick.Grieve@BentonCounty.gov HJones @fayetteville-ar.gov E-MAIL ADDRESS E-MAIL ADDRESS 3. Coates 4. Allgeier, Martin and Associates, Inc COMPANY NAME COMPANY NAME Oklahoma City, OK 73125 Jopplin, MO 64803-2627 CITY, STATE, ZIP CITY, STATE, ZIP Carl Wittkorn, Right -of -Way Agent Darrell G. Wilson, SRWA CONTACT PERSON CONTACT PERSON 4174293916 417-680-7251 TELEPHONE TELEPHONE FAX NUMBER FAX NUMBER cwittkorn@hotmail.com Darrell.Wilson@AMCE.com E-MAIL ADDRESS E-MAIL ADDRESS City of Fayetteville, AR RFP 20-05, Appraisal Services Page 14 of 21 RIFE AND COMPANY APPRAISERS / CONSULTANTS 1001 N. Walton Blvd Bentonville, AR 72712 Office: (479) 273-7406 Fax: (479) 273-0078 rifeandcompany@cox-internet.com www.rifeandcompany.com Thomas G. Rife, MAI, SRA, AMD E-mail- Tomrife@aol.com Howard L. Dover Jr Email- howie760cox.net Rife and Company Appraisers / Consultants • 1001 N. Walton Blvd • Bentonville. AR 72712 Office: (479) 273-7406 a Fax: (479) 273-0078 w�Nw.riteandcompany.com rifeandcompany i?cox-internet.com WHO WE ARE Rife and Company is a full service real estate appraisal and consulting company serving Northwest Arkansas for over 46 years. Mr. Thomas Rife, the owner, is a native of Bentonville and has been applying his extensive knowledge of this area in valuations since 1973. We are committed to prompt, professional, and courteous service. We offer a quality appraisal report that meets all industry standards. We are not tied to any influences, vendors or institutions in any way. Our recommendations and work are solely driven by your needs and are implemented in an objective and ethical manner. We are governed, supervised and accountable to numerous State, Federal and Professional regulatory agencies and organizations. No other professional group in real estate is held as accountable for objectivity as appraisers. SERVICES Rife and Company provides high quality valuation and consulting services on residential and commercial real estate in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP), Appraisal Institute Professional Code of Ethics, as well as applicable government regulations (e.g. FIRREA) and client standards. We can provide Complete and Limited appraisals presented in Self -Contained, Summary or Restricted Use report formats depending on your needs. Our consulting services strive to provide personalized and timely economic market and development services in an environment of rapid change and increased complexity. Our services include but are not limited to: Market Research and Economic Analysis Feasibility Analysis / Studies Litigation Support Business and Strategic Planning For over 46 years, Rife and Company has provided clients with valuable and Innovative solutions tailored to their unique needs. Contact us today and allow us to put our extensive knowledge to work for you. Rife and Company Appraisers / Consultants • 1001 N. Walton Blvd • Bentonville. AR 72712 Office: (479) 273-7406 • Fax: (479) 273-0078 vvvvw.rifeandcompany.com rifeandcompany ��i cox-internet.com OUR TEAM Mr. Thomas G. Rife is the owner and President of Rife and Company. He is a Member of the Appraisal Institute (MAI), Senior Residential Appraiser (SRA), Appraisal Institute General Review Specialist (AI-GRS) and a Certified General Appraiser in Arkansas, Missouri and Oklahoma. He has been involved in the valuation of real estate in Northwest Arkansas since 1973 and has completed appraisals of single and multi -family residential, industrial, and commercial, office, shopping centers, retail, raw land, farm, timeshare properties, ranch and condemnation. His knowledge has also been sought in court testimony in Bankruptcy, Federal and District Court for single and multi -family residential, office, and real estate tax rebate. A devoted member of the community, Mr. Rife has served in the following positions: former chairman and current member of the Bentonville planning commission, former chairman and advisor to the Community Development Corporation, former chairman and member of the Board of Directors of the Bentonville Chamber of Commerce and member of the Peel House Foundation. Mr. Rife graduated from the University of Arkansas, Fayetteville, with a Bachelors Degree in Speech and is a graduate of Harvard University's Graduate School of Design -Advanced Management Development Program in Real Estate. Mr. Howard Dover is the Director of Information and a state licensed residential appraiser for Rife and Company. He specializes in residential and small commercial properties. He maintains the information systems and ensures that Rife and Company maintains the most up to date technology to meet the client's needs. He is currently working towards his Certified General appraisal certification and SRA designation from the Appraisal Institute. Mr. Dover has his bachelors Degree in Organizational Business Management from John Brown University. Rite and Company Appraisers / Consultants • 1001 N. Walton Blvd • Bentonville. AR 72712 Office: (479) 273-7406 • Fax: (479) 273-0078 w%aw.rifeandcompany.com rifeandcompanyK7,cox-internet.com Rife and Company Appraisers,' Consultants 9 1001 N. Walton Blvd • Bentonville. AR 72712 Office: (479) 273-7406 • Fax: (479) 273-0078 www.rifeandcompan\.com rifeandcompany��i,cox-internet.com EXPERIENCE Rife and Company has provided services to the following clients: Arkansas National Bank, Bentonville. AR Arkansas National Bank, Rogers, AR Arvest Banking Group, Lowell, AR Arvest Bank of Bentonville, Bentonville, AR Bank of America, Oklahoma City, OK Bank of America, St. Louis, MO UST, Inc. New York, New York First National Bank & Trust Co., Rogers, AR FirstBank, Minneapolis, MN Federal National Mortgage Company, Dallas, TX FDIC, Houston, TX First Western Bank and Trust, Rogers, AR GMAC Mortgage Corporation, Elkins Park, PA GMAC Mortgage Corporation, Rogers, AR Citicorp Mortgage, St. Louis, MO U.S. Property & Appraisal Co., Pittsburgh, PA State Bank, Tulsa, OK Springdale Bank & Trust Co., Springdale, AR United Federal Savings Bank, Springdale, AR Bank of Rogers, Rogers, AR Farmers and Merchants Bank, Rogers, AR Advantage One Mortgage Co., Bentonville, AR Advantage One Mortgage Co., Tulsa, OK Express America Mort. Corp, Scottsdale, AZ Superior Federal Bank, Fayetteville, AR Superior Federal Bank, Ft. Smith, AR Thompson Mortgage Co., Bentonville, AR Citizens Bank of Northwest Ark., Rogers, AR Pulaski Bank and Trust, Little Rock, AR Metmor Financial, Inc., Overland Park, KS Mercantile Bank, Jonesboro, AR Regions Bank, Bentonville and Fayetteville, AR Community Bank of NW Arkansas. Rogers, AR Nationsbank, Fayetteville, AR Nationsbanc Mortgage Co., Little Rock, AR Bank of Arkansas, Bentonville, AR Bank of Oklahoma, Tulsa, OK CommonPoint Mortgage, Grand Rapids, MI At Home Mortgage Company, Rogers, AR Arvest Trust Company, N. A., Lowell, AR Walton Enterprises, Bentonville, AR City of Rogers, AR City of Bentonville, AR City of Pea Ridge, AR Wal'Mart Inc., Bentonville, AR Rife and Company Appraisers / Consultants 9 1001 N. Walton Blvd • Bentonville. AR 72712 Office: (479) 273-7406 • Fax: (479) 273-0078 www.riteandcompany.com rifeandcompany ntcox- internet.corn Apollo Coatings, Rogers, AR United State Postal Service, Denver, CO Trammell Crow Company, Denver, CO FAA, Oklahoma City, OK Shearson/Lehman Am Ex, New York, NY Shaka Investments, Inc., Honolulu, HI State of Arkansas -Department of Parks and Tourism, Little Rock, AR David Glass, Bentonville, AR Coffelt, Burrow, and Sawyer, Attorneys -at -Law, Bentonville, AR Ralph Dunn, Bentonville, AR Jim C. Walton, Bentonville, AR James L. "Bud" Walton Trust and Estate, Bentonville, AR Sam M. Walton Estate, Bentonville, AR United Companies, Baton Rouge, LA Chevron Corporation, San Ramon, CA McDonalds Corporation, Denver, CO Dossey & Reeves -Attorneys, Bentonville AR Northwest Arkansas Regional Airport Commission, Fayetteville, AR The Walton Foundation, Bentonville, AR Benton -Washington County Water Association, Fayetteville, AR Nestle USA Relocation Center, Glendale, CA Old Farm LLC, Bentonville, AR CTS Relocation, Plymouth MN WHR Relocation, Lombard, IL PHH Homequity Relocation, Concord, CA Prudential Relocation, Shelton, CT Wal'Mart Realty, Inc., Bentonville, AR TCA Cablevision, Springdale, AR Rife and Company Appraisers / Consultants • 1001 N. Walton Blvd 0 Bentonville. AR 72712 Office: (479) 273-7406 * Fax: (479) 273-0078 www.riteandcompany.com rifeandcompanyLa,,cox-internet.com ONLINE SERVICES Rife & Company implements the latest technology. Using tools like our web site www.rifeandcompany.com- complete with the ability to order appraisals on-line — allows clients to shave valuable time off the process of ordering and tracking appraisals. Technologies like a la mode's net.X network are advancing this concept even further, giving its users the ability to not only order appraisals, but track their progress all the way until delivery. With this technology we are able to streamline the appraisal process and offer time saving services such as: 0 Online ordering 0 Online order management 0 Online tracking/status 0 Faxes automatically generated and sent once your online order is processed. Our online ordering process is simple 1. Log on to our website at www.rifeandcompany.com. 2. Click on the Order Appraisal button on the left hand pane. 3. Mark the "I don't currently have an account, create one for me" toggle. 4. Fill out the information asked in the previous section and click next. 5. Fill in the information about the property and assignment and click next to process your appraisal order. 6. Then your order will be sent through the system to our account manager and sent to our fax machine to confirm your order. Checking status 1. Log on to our website at www.rifeandcompany.com . 2. Click on the Client logon button on the left hand pane. 3. Mark the "I already have an account" toggle. 4. Type in your username and password that you created the first time you signed up. 5. Then you will be ready to check the status of a report or have access to previously finished appraisals. For more information you can contact us at our office (479)273-7406 and we will help you with any of your problems or you can login to our website at www.rifeandcompany.com for more contact information. Rife and Company Appraisers / Consultants • 1001 N. Walton Blvd • Bentonville. AR 72712 Office: (479) 273-7406 * Fax: (479) 273-0078 v vvvv.rifeandcompan\ .com rifeandeompany( cox-internet.eom FEE SCHEDULE Thomas G. Rife MAI/SRA/AI-GRS CGO#0354-Arkansas Certified General Appraiser Howard L. Dover, Jr. Appraiser/Computer Technician and Office Manager State Licensed SL#2604 This fee schedule is effective as of January 1, 2019. All reports will be completed in conformance with the Standards of Professional Practice of the Appraisal Institute and The Appraisal Foundation, applicable state laws, and subject to your underwriting guidelines and review. Please be aware that this appraisal firm has appraisers who are licensed and service the following locations: the State of Arkansas, the State of Oklahoma, and the State of Missouri, and our state license numbers and certifications are furnished above. We are also capable of appraisal, real estate feasibility analysis and real estate economic consulting throughout the United States. Each report will comply with Title XI of the Financial Institution Reform and Recovery Enforcement Act of 1989 (FIRREA). This fee schedule is subject to change upon written notice. The following fee schedule includes one copy of the written single family and commercial appraisal report and all related documents, including a market study supporting marketing time for the subject property, when necessary. We understand the importance of a prompt turnaround time and that is why we have made the process easier from your end through on-line ordering capability and EDI document delivery. We will make every effort to work with you and meet your deadlines. If your company has emergency needs, please call us. Construction inspections will be completed on the basis of a 24 hour turnaround time. Call us for a discount for bulk construction inspections/appraisal services or with any questions about your valuation problems or needs. Rife and Company Appraisers / Consultants • 1001 N. Walton Blvd • Bentonville. AR 72712 Office: (479) 273-7406 • Fax: (479) 273-0078 w\xw.rifeandcompany.com rifeandcompany(�u,cox-internet.com FEE SCHEDULE We will not participate in "DRIVE BY" Appraisal Reports Construction Inspections (Including Commercial) $100.00 Final Inspections (Including Commercial) $100.00 FNMA 2075 Property Inspection Report $200.00 FHLMC 2055 Quantitative Analysis Appraisal Report $400.00 FNMA 2065 Qualitative Analysis Appraisal Report $300.00 FHLMC 2070 Condition and Marketability Report $150.00 Land Report (Under Deminimus-Residential) $350.00 Land Report (Over Deminimus Commercial) $Call for Quote Single Family Appraisal under the Deminimus Level of $350,000 Uniform Residential Appraisal Report (URAR) Bentonville -Bella Vista -Rogers -Springdale -Fayetteville -Lowell $450.00 (Non -lake properties) Rest of Benton County and Northern Washington County $475.00 Travel Fee (remote areas in Benton and Washington County) $50.00 Extra Copies (2 hard copies and 1 digital copy is standard) $50.00 per copy Single Family Appraisal over the Deminimus Level of $350,000 Call for quote ERC Relocation Appraisal $700 Secondary Market Field Review (Residential) $450.00 Multifamily Residential Appraisal 2 to 4 units $600.00 to $700.00 5 to 12 units $800.00 to $1200.00 13 to 20 units $Call For Quote Summary Narrative Commercial Report Call for Bid Self Contained Narrative Appraisal Report (Full FIRREA compliance) Minimum price of $7,500-Call for Bid Rife and Company Appraisers / Consultants • 1001 N. Walton Blvd • Bentonville. AR 72712 Office: (479) 273-7406 a Fax: (479) 273-0078 "ww.rifeandcompany.com rifeandcompany((i�cox-internet.com Consultation including professional testimony and litigation services is available. Fees for Tom Rife are $175.00 per hour with a 4 hour minimum. Fees for Howard Dover are $100 per hour with a 2 hour minimum. Please call for initial discussion. We look forward to working with you and solving all your valuation problems and needs. Please call to discuss bulk discounts and how to streamline your appraisal process through our on-line capabilities. Rife and Company Appraisers / Consultants e 1001 N. Walton Blvd • Bentonville. AR 72712 Office: (479) 273-7406 • Fax: (479) 273-0078 www.riteandcompany.com rifeandcompany(�acox-internet.com QUALIFICATIONS OF THE APPRAISER T H O M A S G. RIFE, MAI, SRA, A M D,AI-GRS _rIZ-1 4 L Name: Thomas G. Rife, MAI, SRA, AMD,AI-GRS Arkansas State Certified General Appraiser CG#0354 Missouri State Certified General Appraiser # 002432 Education: University of Arkansas (Fayetteville), B.S.E. Degree in Speech-1973; Successfully completed Appraisal institute courses 1-A, 1-B, 11, IV, VIII, 550 as well as Business Valuation, Standards of Professional Practice, 1994, 1998, 2003 and various seminars; Graduate Degree, July-2002-2003 - Harvard University, Graduate School of Design -Advanced Management Development Program in Real Estate (AMD). Experience: Instructor, University of Colorado, Real Estate Appraisal and Valuation-1984-1986; Past Instructor, Cooperative Real Estate Certificate Program, sponsored by the University of Colorado and the Colorado Association of Realtors, 1984-86. Instructor -Northwest Arkansas Community College-1997-1998; Instructor-1999 and 200 1 -Northwest Arkansas Appraisal Section -Uniform Standards of Professional Practice. Appraisals of single and multifamily residential, industrial, commercial, professional office, shopping centers, retail, raw land, farm, timeshare, ranch and condemnation; Expert witness testimony in Bankruptcy, Federal and District Courts in Arkansas, Colorado, Hawaii, and Texas. Consultant/Feasibility analyst with experience in Arkansas, Missouri, Oklahoma, Florida, Indiana, Hawaii, Missouri, New Mexico, Oklahoma and Oregon. Employment: Owner, Rife & Company, Bentonville, Arkansas, July, 1989 to present. Owner, Rife & Company, Denver, Colorado, July 1981 to July 1989; Ginther-Wycoff Group, Denver, Colorado, May, 1983 to June 1984. Independent Fee Appraiser, Associate Appraiser, Appraisal Services, Boulder, CO., June 1981 to September, 1982. Appraiser, Thompson Company/Rife & Company, Rogers, Arkansas, February 1973 to June 1981. Organizations: Member of the Appraisal Institute (MAI) - Certificate #6737; Senior Residential Appraiser (SRA), Certificate #1024; Appraisal Institute General Review Specialist (AI-GRS), Member, Board of Realtors, Bentonville, AR; Affiliate Member, Rogers, AR Board of Realtors; President -Arkansas Appraisers Association 2006-2007. Member -- Arkansas Appraiser Licensing and Certification Board — March, 2008 to present; Vice Chairman — 2009; Chairman — 2010 and 2011. Rife and Company Appraisers / Consultants • 1001 N. Walton Blvd • Bentonville, AR 72712 Office: (479) 273-7406 a Fax: (479) 273-0078 www.rifeandcompany.com rifeandcompany@cox-internet.com APPROVED LENDER'S LIST Iberia Bank, Bentonville, AR, Rogers, AR and Little Rock, AR Arvest Bank of Benton County, Rogers and Bentonville, AR Arvest Banking Group, Lowell, AR UST, Inc. New York, New York FirstBank, Minneapolis, Minnesota Federal National Mortgage Company, Dallas, Texas Federal Deposit Insurance Corporation, Houston, Texas First Western Bank and Trust, Rogers, AR GMAC Mortgage Corporation, Elkins Park, PA and Rogers, AR Citicorp Mortgage. St. Louis, Missouri BankofAmerica, Oklahoma City, OK and St. Louis, MO Arvest State Bank, Tulsa, Oklahoma United Bank, Rogers and Springdale, AR First National Bank of Rogers, Rogers, AR Chambers Bank of Northwest Arkansas, Rogers, AR Simmons First National Bank, Bentonville and Rogers, AR Mercantile Bank, Jonesboro, AR REGIONS BANK, Bentonville, Rogers and Fayetteville, AR Chambers Bank of North Arkansas, Rogers, and Fayetteville, AR BANK OF ARKANSAS, Bentonville, AR BANK OF OKLAHOMA, Tulsa, OK Review Appraiser - 2005, ARVEST BANK Bentonville, AR Liberty Bank of Arkansas, Bentonville, AR DEVELOPERS AND OTHER CLIENTS Arvest Trust Company, N.A., Rogers, Bentonville, Lowell, AR Walton Enterprises, Bentonville, AR City of Rogers, AR City of Bentonville, AR Limestone Development, Dallas, Texas City of Pea Ridge, AR Wal*Mart, Inc. Bentonville, AR Apollo Coatings, Rogers, AR United States Postal Service, Denver, CO and Oklahoma City, OK Trammell Crow Company, Denver, CO Federal Aviation Administration, Oklahoma City, Oklahoma Shearson/Lehman American Express, New York, NY George Westmoreland, Rogers, AR Shaka Investments, Inc., Honolulu, Hawaii State of Arkansas -Department of Parks and Tourism, Little Rock, AR David Glass, Bentonville, AR Coffelt, Burrow, and Sawyer, Attorneys -at -Law, Bentonville, AR Jim C. Walton, Bentonville, AR Rife and Company Appraisers / Consultants • 1001 N. Walton Blvd • Bentonville, AR 72712 Office: (479) 273-7406 • Fax: (479) 273-0078 www.rifeandcompany.com rifeandcompany@cox-internet.com James L. "Bud" Walton Trust and Estate, Bentonville, AR Sam M. Walton Estate, Bentonville, AR Old Farm, LLC, Bentonville, AR WalMart Stores, Inc., Bentonville, AR WalMart Realty, Bentonville, AR United Companies, Baton Rouge, LA Chevron Corporation, San Ramon, CA McDonalds Corporation, Denver, CO. and Chicago, IL. Benton County Assessor's Office, Bear Chaney, Assessor, Bentonville, AR Dossey and Burke -Attorneys -at -Law, Bentonville, AR Glen Kelley, Attorney -at -Law, Rogers, AR Downtown Bentonville, Inc. Northwest Arkansas Regional Airport Authority, Fayetteville, AR The Walton Foundation, Bentonville, AR Benton -Washington County Water Association, Fayetteville, AR Nestle USA Relocation Center, Glendale, CA WHR Relocation, Lombard, IL PHH Homequity Relocation, Concord, CA Prudential Relocation, Shelton, CT TCA Cablevision, Springdale, AR Wal*Mart Realty, Inc., Bentonville, AR Washington Regional Medical Services, Fayetteville, AR Kyle Heffley, Attorney -at -Law, Mitchell Williams Law Firm, Rogers, AR Jack Butt, Attorney -at -Law, Fayetteville, AR Jim Lingle, Lingle Law Firm, Rogers, AR Glen Kelley, Kelly Law Firm, Rogers, AR CIVIC INVOLVEMENT Member, Bentonville Planning Commission, 1991 to 1996, Vice Chairman-1994, Chairman-1995, Bentonville, AR; 1997 to 2007. Chairman - 2000, 2003, and 2007; Advisor to Community Development Corporation, 1991 to present. Past Member, Board of Adjustments, City of Rogers, AR. - 1980; Bentonville Chamber of Commerce- 1999 to current date; Arkansas Community of Excellence Program, 1993-94. Co - Chairman of ACE Advisory Board; Board of Directors, Bentonville Chamber of Commerce, 1994-2000; Secretary -Treasurer 1996-97; Vice-Chairman-1998; Chairman-1999. Member, Bentonville Downtown Leadership, 1996-99, Bentonville, AR; Chairman of the Board of Trustees, First United Methodist Church, Bentonville, AR; 1994-1997; Lay Leader - 1999; Living Waters United Methodist Church -Founding Member 2006 to present; Benton County Habitat for Humanity Board Member 2006-2010. US 71 Corridor Advisory Council, City of Bentonville, 1996-Present. RIGHT OF WAY EXPERIENCE State of Arkansas Parks and Tourism acquisition of Jeske Estate for Hobbs State Park - Parcel was 200 acres bordering the War Eagle River; City of Bentonville-78 ROW parcels for B-200 water line-2003; City of Rogers -Widening and ROW purchase for South 26th Street -Noland Property-2006; City of Rogers -Widening of Dixieland Road -One parcel for litigation purpose-1999; City of Rogers -Widening of Olive Street -Two parcels for litigation purpose; 1996-1999; Rogers Airport -Carter Field -acquisition and air rights valuation - Steve Glass — City of Rogers, AR. Review Appraiser-Benton/Washington County Water Authority for the Rife and Company Appraisers / Consultants • 1001 N. Walton Blvd • Bentonville, AR 72712 Office: (479) 273-7406 a Fax: (479) 273-0078 ww%v.rifeandcompany.com rifeandcompany@cox-internet.com TWO TON LOOP which was a 432-parcel high-pressure water line-1996-1997. Review Appraiser -City of Mena, Arkansas Airport Expansion; 7 parcel expansion and air rights-1997-1998; City of Bentonville, AR - Widening of Arkansas Highway 72 East-4 parcels- 1997; Northwest Arkansas Regional Airport Authority - Full takings and partial takings for the Northwest Arkansas Regional Airport; 48 parcels with O.R. Colon; 1995-1996, 2000; Review Appraiser- City of Bentonville, AR -Water and sewer easements for sewer expansion; 175 parcels- 1994-95; City of Longmont, Colorado -Widening of Hover Road; 42 parcel street widening project-1984-6. Projects completed for the City of Rogers, AR in the past 10 years include Widening of Dixieland Road -I Parcel-1999; Widening of Olive Street-2 parcels-1996-1999; Purchase of Hangar at Carter Field/leasehold analysis-1999; Review appraiser for Universal Field Services for 2 parcels in valuation of air rights and ROW acquisition for 2 parcels — 2007; In 1989 Rife and Company assisted the City of Rogers in acquisition of air rights for 38 parcels for ILS system. Contact Information: Thomas G. "Tom" Rife MAI, SPA, AMD Rife and Company 1001 North Walton Boulevard Bentonville, AR 72712 479 273 7406 (office) 479 936 6806 (cell) tomrife@aol.com References furnished upon request Projects completed for the City of Rogers, AR in the past 10 years include 1) Widening and relocation of South 260' Street -Noland Property — 2006; 2) Widening of Dixieland Road -I Parcel-1999; 3) Widening of Olive Street-2 parcels-1996-1999; Purchase of Hangar at Carter Field/leasehold analysis-1999; Compensation; Review appraiser for Universal Field Services for 2 parcels in valuation of air rights and ROW acquisition for 2 parcels — 2007. Projects for clients include Leasehold estate for Airport Hanger for George Westmorland — 2009; Highway taking - AHTD vs. Boling-2010; Highway taking — AHTD vs. Pinnacle Bank- 2009-2010; Highway taking - AHTD vs. Lawco — 2008. Rife and Company Appraisers / Consultants a 1001 N. Walton Blvd • Bentonville, AR 72712 Office: (479) 273-7406 • Fax: (479) 273-0078 www.rifeandcompany.com rifeandcompany@cox-internet.com Howard L. Dover Jr. 1521 NE Young Ave. / Bentonville, AR 72712 Howie76@cox.net / 479-841-7856 PROFESSIONAL HISTORY 2000-Current Rife & Company Appraisers Bentonville, AR Arkansas State Licensed Real Estate Appraiser - Residential, Relocation, Estate, Litigation and Commercial Research and Analysis • Research and analyze market data to establish highest and best use of property and to determine requested value • Collect income and rental data to develop market value based on income analysis and to determine current market rental rates • Property inspection to establish accurate square footage and property condition Reporting • Create appraisal reports for client to include o Floor Plan (created in Apex & Alamode software) o Comparable property sales o Property value o Economic data about the market area and demographics o Reporting of property square footage by American National Standards Institute o Functionality of space, including functional obsolescence 1996-2003 Boys & Girls Club of Benton County Bentonville, AR Assistant Athletic Director for 2001-2003 Organized youth athletic opportunities including registration, team organization, coaches and officials, scheduling, and equipment Recreational Director for 1996-2001 Oversaw and managed youth programming for afterschool and summer program EDUCATION John Brown University Bachelor's of Science in Organizational Management SOFTWARE PROFICIENCIES • Microsoft Word and Excel • MLS- Multi List System for real estate listings and data • Apex Sketching Software • Alamode Appraisal Software • Multiple GIS Systems Rife and Company Appraisers / Consultants • 1001 N. Walton Blvd • Bentonville. AR 72712 Office: (479) 273-7406 • Fax: (479) 273-0078 vvww.rifeandcompany.com rifeandcompany(c,cox-internet.com gk= 1.11 Administrators & Insurance Services APPRAISAL AND VALUATION A S P E N PROFESSIONAL LIABILITY INSURANCE POLICY DECLARATIONS ASPEN SPECIALTY INSURANCE COMPANY (A stock insurance company herein called the "Company") 175 Capitol Blvd. Suite 100 Rocky Hill, CT 06067 Date Issued Policy Number Previous Policy Number 09/04/2019 AS1002571-05 AS1002571-04 THIS IS A CLAIMS MADE AND REPORTED POLICY. COVERAGE IS LIMITED TO LIABILITY FOR ONLY THOSE CLAIMS THAT ARE FIRST MADE AGAINST THE INSURED DURING THE POLICY PERIOD AND THEN REPORT- ED TO THE COMPANY IN WRITING NO LATER TITAN SIXTY (60) DAYS AFTER EXPIRATION OR TERMINATION OF THIS POLICY, OR DURING THE EXTENDED REPORTING PERIOD, IF APPLICABLE, FOR A WRONGFUL ACT COMMITTED ON OR AFTER THE RETROACTIVE DATE AND BEFORE THE END OF THE POLICY PERIOD. PLEASE READ THE POLICY CAREFULLY. lt�:ln 1. Customer ID: 129551 Named Insured: This contract is registered and delivered as a RIFE & COMPANY, INC. surplus lines coverage under the Surplus Lines 1001 North Walton Boulevard Insurance Law, and it may in some respects be Bentonville, AR 72712 different from contracts issued by insurers in the admitted markets, and, accordingly, it may, depending upon the circumstances, be more or less favorable to an insured than a contract from an admitted carrier might be. The protection of 2. Policy Period: From: 09/12/2019 To: 09/12/2020 12:01 A.M. Standard Time at the address stated in 1 above. the Arkansas Property and Casualty Guaranty Act does not apply to this contract. A tax of four percent (4/0) is required to be collected from the insured on all surplus lines premiums. 3. Deductible: $1,000 Each Claim 4. Retroactive Date: 09/12/1994 5. Inception Date: 09/12/2015 Robert C. Wiley License No.239702 6. Limits of Liability: A. $1,000,000 Each Claim B. $2,000,000 Aggregate P.O. Box 1319 Santa Barbara, CA 93102 Tel: (800) 334-0652 7. Mail all notices, including notice of Claim, to: LIA Administrators & Insurance Services 1600 Anacapa Street Santa Barbara, California 93101 (800)334-0652; Fax: (805)962-0652 8. Annual Premium: $2 ,181.00 + $87.24 Surplus Lines Tax 9. Forms attached at issue: LIA002S (12/14) ASPC0002 0715 LIA012 (12/14) LIA013 (10/14) LIA018 (10/14) LIA021 (10/14) LIA025A (11/14) This Declarations Page, together with the completed and signed Policy Application including all attachments and exhibits thereto, and the Policy shall constitute the contract between the famed Insured and th any. 09/04/2019 By Date Authorized Sighature LIA-001 S (12/14) Aspen Specialty Insurance Company Appraisal and Valuation Professional Liability Insurance Policy Named Insured: RIFE & COMPANY, INC. ASPEN Policy Number: ASI002571-05 Effective Date: 09/12/2019 Customer ID: 129551 THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. ADDITIONAL COVERED APPRAISERS ENDORSEMENT In consideration of the premium charged, it is agreed that Section IV. DEFINITIONS (1) "Insured" is amended to include: "Insured" means: The persons identified below, but only while acting on behalf of the Named Insured: Name Thomas G. Rife Howard Dover, Jr. Coverage Principal/Owner, Effective Date Appraiser or Trainee 09/12/2019 Principal/Owner 09/12/2019 Appraiser All other terms, conditions, and exclusions of this Policy remain unchanged. Aspen Specialty Insurance Company LIAO12 (12/14) Page I of 1 Appraisal and Valuation Professional Liability Insurance Policy ASPEN Named Insured: RIFE & COMPANY, INC. Policy Number: ASI002571-05 Effective Date: 09/12/2019 Customer ID: 129551 THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. COMMERCIAL APPRAISAL ENDORSEMENT In consideration of the premium charged, it is agreed that the Insureds identified below have been approved by the Company to perform Professional Services involving Commercial Property. Insured Thomas G. Rife Effective Date of Approval 09/ 12/2019 Exclusion (N) remains unchanged and effective, however, unless the Insured identified is approved for Professional Services involving undeveloped or vacant land whose proposed use is for multiple unit single-family housing developments, condominium developments, co-operative housing developments or apartment developments consisting of 10 units or more. All other terms, conditions, and exclusions of this Policy remain unchanged. Aspen Specialty Insurance Company Page I of I LIAO13 (10/14) r Customer ID: 129551 12. Complete the following for all residential and commercial appraisals performed, and indicate the percentage of gross annual income from each category: Last 12 months A. Residential Appraisal Assignments % Gross Income Number of Appraisals I. Single-family homes/condos or lots for single-family homes/condos (1 to 4 units) 25 160 Ii. Multi -family properties 5 to 9 units) or lots for mufti -family properties (5 tog units) 6 6 Ill. Residential appraisal review assignments 1 3 iv. Other residential property appraisal assignments describe below) VACATION RESIDENCE B. Commercial Aperalsal Assignments I. Existing apartment or residential condo complexes (10 or more units) 5 4 ii. Existing commercial properties (shopping centers, industrial properties, office buildings, churches, schools, farts land, agricultural properties) 25 7 III. Vacant land for the proposed development of the following: a) Condos, apartment or residential projects 10 to 99 units 15 12 b) Condos, apartment or residential projects (100 or more units) 0 c) Vacant land for proposed commercial development 21 15 iv. Commercial appraisal review assignments 2 2 v. Other commercial property appraisal assignments (describe below 0 0 MIXED USE FLEX SPACE (INDUSTRIAL)/CONDEMNATION C. Total Number ofAppraisal Assignments 100 % 209 D. Total Gross Appraisal Income g 225000 13. Is the Applicant currently providing or planning to provide appraisal management services, including, but not limited, to managing and/or assigning work to a panel or network of contract appraisers? []Yes ❑x No Coverage for appraisal management services is not provided under the policy being applied for. The Applicant should contact LIA for an AMC application to cover such services. 14. Is the Applicant currently a staff appraiser for any entity not named in Question 1? QYes ❑x No A If yes, please provide the name of the entity: B.1 If yes, are you seeking coverage for services provided for or on behalf of the entity named in Question 14A? []Yes EjNo C. I Are all appraisals performed on behalf of the entity named in 14A included in response to Question 12? ❑Yes ❑x No If you answered yes to Question 1413, salary and appraisal activity must be shown in response to Question 12. 15. Administrative, disciplinary, govemmental and criminal investigations or actions: A. In the last 10 years, has any person named in this application been the subject of any disciplinary or corrective action by any state licensing board or other regulatory body in relation to appraisal or appraisal management activities? []Yes NNo i. If yes, please provide the file or case number (s), or if not available, the subject property address(es). B. Has any person named in this application been notified of any investigation or review open at this time by any state licensingboard or other regulatory bodyin relation to appraisal or appraisal management activities? j]Yes j]No I. If yes, please identify below the file or case number, or if not available, the subject property address(es). C. Has any person named in this application ever been convicted of a felony, or arrested, indicted or charged with felonious misconduct? if yes, please provide a written narrative of events. EDYes Ox Nc If you answered yes to any section of Question 15, please provide complete documentation and copies of all correspondence, including the final order, stipulation, dismissal andlor judgment, if applicable. ASPEN SPECIALTY INSURANCE COMPANY Page 2 of 5 LIA004S (12/14) --7 Customer ID: 129551 16. In the last 10 years, have any lawsuits or claims (including notice of a potential claim or a demand letter) been made or filed against the Applicant, or any person named in this application? This includes lawsuits or Yes px No claims, regardless of whether they were tendered to an insurance company for coverage. 17. 1Is the Applicant or any person named In this application aware of any facts, circumstances or threats that may lead to the filing of a lawsuit or claim against the Applicant or such person? I ❑Yes ❑x No If you answered yes to Question 16 or 17, a supplemental claim application is required. The supplemental claim application is available at http:iiwww.liability.com/forms. important: If any claims exist, or any facts, circumstances or threats exist which could give rise to a claim, those claims or facts/circumstances/threats are excluded from the proposed policy. 18. Please check the coverage and limit of liability per claim and aggregate desired: Coverage Options Limit for Each Claim Aggregate Limit for All Claims Combined Optional Coverage Solo Appraisers 0$300,000 and Firms with 4 or Fewer []5300,000 0$600,000 OReal Estate Sales & Property Management Appraisers/Trainees a$1,000,000 (A copy of your real estate license and a 0$500,000 ❑$500,000 supplemental real estate sales application is Solo Appraisers PP and Firms of Any Q$1,000,000 O$1,000,000 required. You may download this supplemental Size application at www.liabllity.com/forms/.) Q$2,000,000 O$2,000,000 (not available with $500,000 claim limit) The undersigned being authorized by, and acting on behalf of, the Applicant and all persons or concerns seeking insurance, has read and understands this application, and declares that all statements set forth in this application and other information provided with this application are true, complete and accurate. The undersigned further declares and represents that any occurrence or event taking place prior to the effective date of the policy applied for, which may render any statement made in this application inaccurate, untrue or Incomplete, will be immediately reported in writing to LIA Administrators & Insurance Services. The undersigned acknowledges and agrees that the submission and LIA Administrators 8, Insurance Services' receipt of such written report prior to the Inception of the policy applied for, is a condition precedent to coverage. Signing of this application does not bind the Insurance company to offer nor the Applicant to accept insurance, but it is agreed that this application and all information provided with this application shall be the basis of the insurance and it will be attached and made a part of the policy should a policy be issued. Applicant hereby authorizes the release of claim information from any prior insurer to LIA Administrators & Insurance Services (LIA) and the Company. ASPEN SPECIALTY INSURANCE COMPANY Page 3 of 5 LIA004S (12114) FRAUD WARNING STATEMENT NOTICE TO APPLICANTS: ANY PERSON WHO KNOWINGLY, AND WITH THE INTENT TO DEFRAUD ANY INSURANCE COMPANY OR OTHER PERSON, FILES AN APPLICATION FOR INSURANCE OR STATEMENT OF CLAIM CONTAINING ANY MATERIAL FALSE INFORMATION OR CONCEALS FOR THE PURPOSES OF MISLEADING, INFORMATION CONCERNING ANY FACT MATERIAL THERETO COMMITS A FRAUDULENT INSURANCE ACT, WHICH IS A CRIME AND SUBJECTS THE PERSON TO CRIMINAL AND CIVIL PENALTIES AND DENIAL OF INSURANCE BENEFITS. THOMAS G. RIFE Print Name (P(ncipal/Owner/Officer) PRESIDENT, RIFE & COMPANY, INC. Title Digitally Signed Signature 8I5I2019 Date BROKER'S SIGNATURE: Some states require that we have the Name and Address of your (Applicant's) Authorized Agent or Broker. Signature of Authorized Agent or Broker: Name of Authorized Agent Broker: Robert C. Wiley Address: 1600 Anacapa Street Santa Barbara, CA 93101 Before submitting, please check that: 1. All questions have been answered. (if a questlon is not applicable, Indicate "NIA".) 2. Resumes/qualification sheets are included for new prindpals, appraisers and trainees. 3. Any attachments required for questions 11, 15, 16, 17 and 18 are included. 4. The application is signed and dated by a principal, owner or officer. ASPEN SPECIALTY INSURANCE COMPANY Page 4 of 5 LIA004S (12114) STAFF ADDENDUM Name of Applicant: �.nenllU:-16`JbDI RIFE & COMPANY, INC. If more space is needed for Question 8, please complete the following for all additional persons working for or on behalf of the Applicant. Firms must list all principals (active and inactive), employees, trainees and independent contractors, regardless of the number of appraisals performed. All non -appraiser clerical and support staff should also be listed. Status Codes: P — Owner, Principal, Partner T—Trainee Appraiser R — Real Estate Agent or Broker (no coverage applies A — Appraiser O — Non -Appraiser Support Staff until selected and bound; see Question 23) Note: Non -appraiser clerical and support staff should be listed and will be covered at no additional charge. Full Name Status Code circle one Active (A) Inactive (1) circle one Appraiser's Certificate or License Number Number of Years Appraisal Ex erience Number of Years Commercial Appraisal Experience Currently Held Desi nations f C 1 I !I f A resume/qualifications sheet must be submitted for all Principals, Appraisers and Trainees listed above. Provide a copy of the declarations page(s) for any E&O insurance carried by your Independent contractor appraisers. ASPEN SPECIALTY INSURANCE COMPANY Page 5 of 5 LIA004S (12/14) Aspen Specialty Insurance Company 590 Madison Avenue, Th Floor A S P E N New York, NY 10022 877-245-3510 APPRAISAL AND VALUATION PROFESSIONAL LIABILITY INSURANCE POLICY THIS IS A CLAIMS :LADE AND REPUR] 1:13 POLICY. COVERAGE IS LIMITED TO LI.ABILITY FOR (Y \ LY THOSE CLAIMS THAT .ARE FIRST ;NL-iDE AGAINST THE INSURED DURING THE POLICY PERIOD AND THEN REPORTED TO THE COMPANY IN WRITING NO LATER THAN SIXTY (60) DAYS .AFTER EXPIRATION OR TERMINATION OF THIS POLICY, OR DURING THE EXTENDED REPORTING PERIOD, IF .APPLICABLE, FOR A WRONGFUL ACT COMMITTED ON OR .AFTER THE RETROACTIVE DATE .AND BEFORE THE END OF THE POLICY PERIOD. PLEASE READ THE POLICY CAREFULLY. Words and phrases that are in bold face type, other than headings, have the special meanings set forth in Section IV. DEFINITIONS. In consideration of and subject to payment of the premium, and in reliance upon the particulars, statements, representations, attachments and exhibits contained in and submitted with the .Application which shall be the basis of this Policy and deemed to be incorporated herein, and subject to all the terms, conditions, limitations and any endorsements to this Policy, .Aspen Specialty Insurance Company (the "Company") agrees with the Named Insured as follows: I. INSURING AGREEMENTS (A) The Company will pay on behalf of the Insured all sums in excess of the Deductible amount stated in the Declarations which the Insured becomes legally obligated to pay as Damages and Claims Expenses resulting from Claims first made against the Insured during the Policy Period, or Extended Reporting Period, if applicable, as a result of a Wrongful Act by the Insured, provided that: (1) such Wrongful Act was committed on or after the Retroactive Date and before the end of the Policy Period; and (2) prior to the beginning of the Policy Period, the Insured did not know or could not reasonably have expected that such Wrongful Act might give rise to a Claim. As a condition precedent to coverage, the Insured shall report all Claims in writing to the Company as soon as practicable, but in no event later than sixty (60) days after expiration or termination of this Policy, or during the Extended Reporting Period, if applicable. (B) The Insured shall not admit or assume liability for any Wrongful Act, or settle any Claim, or incur any expenses, including Claims Expenses, without the prior written consent of the Company. However, the Insured must take all reasonable action within its ability to prevent or mitigate any Claim which would be covered under this Policy. The Company has the right to make such investigation and conduct negotiations and, with the written consent of the Insured, effect settlement of any Claim as the Company deems reasonable. If the Insured refuses to consent to a settlement recommended by the Company and elects to contest or continue to contest the Claim, the Company's liability shall not exceed the amount for which the Company would have been liable for Damages and Claims Expenses if the Claim had been so settled when and as so recommended, and the Company shall have the right to withdraw from the further defense of the Claim by tendering control of the defense thereof to the Insured. The operation of this paragraph shall be subject to the Limits of Liability and Deductible provisions of this Policy. The Company shall not be obligated to pay any Damages and/or Claims Expenses, or to undertake or continue the defense of any Claim after the applicable limit of the Company's liability has been exhausted by payment of Damages and/or Claims Expenses or after deposit of the applicable limit of the Company's liability with or subject to control of a court of competent jurisdiction. Aspen Specialty Insurance Company Page 1 of 12 LLA002S (12/14) II. TERRITORY AND DEFENSE (A) The coverage afforded by this Policy applies worldwide, but only if the Claim is made in the United States of America, its territories and possessions, or Canada. (B) The Company has the sole right to appoint defense counsel and the right and duty to defend any Claim covered by this Policy made against the Insured. III. COVERAGE EXTENSIONS AND SUPPLEMENTAL PAYMENTS (A) CONFIDENTIALITY COVERAGE EXTENSION Subject to all other terms and conditions, a Wrongful Act covered under this Policy includes the Insured's unintentional disclosure of confidential information in violation of applicable professional practice standards in the Insured's rendering of Professional Services. (B) PERSONAL INJURY COVERAGE EXTENSION Subject to all other terms and conditions, a Wrongful Act covered under this Policy includes Personal Injury arising from the Insured's rendering of Professional Services. (C) SPOUSAL COVERAGE EXTENSION If a covered Claim against an Insured arising out of a Wrongful Act committed on or after the Retroactive Date and before the end of the Policy Period includes allegations against the lawful spouse of such Insured solely by reason of (a) such spousal status or (b) such spouse's ownership interest in property or assets that are sought as recovery for such Claim, any sums for which such spouse becomes legally obligated to pay on account of such Claim shall be deemed Damages. (D) SUPPLEMENTAL PAYMENTS Subject to all other terms and conditions, this Policy affords the following Supplemental Payments. Any payments made by the Company under this Section (D) shall not apply to the Deductible and shall not reduce the Limits of Liability: (1) Subpoena Response The Company will pay reasonable and necessary fees charged by attorneys designated by the Company, or designated by the Insured with the Company's prior written consent, for assisting the Insured in responding to a subpoena which relates to a Wrongful Act committed by the Insured on or after the Retroactive Date and before the end of the Policy Period and which the Insured first receives and reports in writing to the Company during the Policy Period, or Extended Reporting Period, if applicable, provided that the subpoena does not involve: (a) a circumstance or situation underlying or alleged in a Claim made prior to the Retroactive Date; (b) a notice of circumstance or potential Claim given to a prior insurer; or (c) any Wrongful Act the Insured knew or reasonably could have expected prior to the beginning of the Policy Period, which might give rise to a subpoena and/or Claim. The maximum amount payable shall be $5,000 regardless of the number of subpoenas. Once the Company has incurred $5,000 of expenses for responding to a subpoena under this Section (D)(1), the Company shall deem that a Claim has been made. (2) Pre -Claim Assistance If during the Policy Period the Insured reports a specific Wrongful Act committed by the Insured on or after the Retroactive Date and before the end of the Policy Period in accordance with Section VI. CONDITIONS, Paragraph (A) of this Policy, the Company will pay reasonable and necessary attorney fees for investigation and monitoring of the Wrongful Act and for efforts to decrease the likelihood of an actual Claim, provided that: (i) The Company, in its sole discretion, selected such attorneys; or (ii) The Insured selected such attorneys with the Company's prior written consent. Aspen Specialty Insurance Company Page 2 of 12 LLX002S (12/14) Once $5,000 of expenses has been incurred for such attorney fees as set forth above in this Section III., COVERAGE EXTENSIONS AND SUPPLEMENTAL PAYMENTS, Paragraph (D) SUPPLEMENTAL PAYMENTS, Subparagraph (2) Pre -Claim Assistance, a Claim shall be deemed to have been made and any further expenses will be considered Claim Expenses to which the deductible and Limits of Liability apply. Until such time that a Claim arising from such specific Wrongful Act has or is deemed to have been made, any amounts incurred by the Company for such investigation shall be at the Company's expense. If a Claim arising from such specific Wrongful Act has or is deemed to have been made, then this section would no longer apply and Section II., TERRITORTY AND DEFENSE would apply. (3) Disciplinary Proceedings If a Disciplinary Proceeding relating to a Wrongful Act by the Insured on or after the Retroactive Date and before the end of the Policy Period is commenced against the Insured during the Policy Period and reported to the Company within sixty (60) days of the Insured's first receipt of notice of the Disciplinary Proceeding, the Company will reimburse the Insured for reasonable attorney(s fees incurred in responding to the Disciplinary Proceeding, provided that the attorney is designated by the Company or by the Insured with the Company's prior written consent. The maximum payment made by the Company pursuant to this Supplemental Payment shall be $2,500 for each Policy Period regardless of the number of Disciplinary Proceedings. The Company's maximum obligation for the cumulative total of all Supplemental Payments under this Section (D)(3) concerning all Disciplinary Proceedings for which first notice is received by the Insured in the same Policy Period shall be $2,500, regardless of the number of years the Insured maintains insurance with the Company and shall not cumulate from year to year or period to period. The Company shall not pay Damages pursuant to this provision, including but not limited to any fines, sanctions or statutory penalties. (4) Loss of Earnings and Reimbursement of Expenses If the Insured is requested by the Company to attend hearings, depositions and trials relating to the defense of a Claim, the Company shall reimburse the Insured's actual loss of earnings and reasonable actual expenses for such attendance up to $500 per day. The maximum payment made by the Company pursuant to this Supplemental Payment shall be $5,000 for each Policy Period. The Supplemental Payment under this Section D(4) does not apply to proceedings the Insured is legally required to attend as the result of court orders or subpoenas. The Company's maximum obligation for the cumulative total of all Supplemental Payments under this Section (D)(4) concerning all Claims reported in the same Policy Period shall be $5,000, regardless of the number of years the Insured maintains insurance with the Company and shall not cumulate from year to year or period to period. The Company's maximum obligation for the cumulative total of all Supplemental Payments under this Section (D) concerning: (i) the same or related Wrongful Act(s); or (ii) multiple appraisals or other work product concerning the same property, for the same or related client(s), or relating to the same or related borrower(s) or owner(s), shall be $5,000, regardless of the number of years the Insured maintains insurance with the Company and shall not cumulate from year to year or period to period. IV. DEFINITIONS (A) "Claim" means a demand received by the Insured and seeking Damages and/or Professional Services from the Insured arising out of one or more Wrongful Acts by the Insured or any Entity for whom the Insured is legally liable. A Claim also includes the service of suit, a request that an Insured waive a legal right or sign an agreement to toll a statute of limitations, or the institution of an arbitration proceeding against the Insured. (B) "Claims Expenses" mean: (1) Reasonable and necessary fees charged by an attorney(s) designated by the Company, or designated by the Insured with the Company's prior written consent, to defend a Claim; and (2) All other reasonable and necessary fees, costs and charges, resulting from the investigation, adjustment, defense, negotiation, arbitration, mediation and appeal of a Claim, if incurred by the Company or by the Aspen Specialty Insurance Company Page 3 of 12 LLA,002S (12/14) Insured with the Company's prior written consent, including premiums on appeal bonds, provided that the Company shall not be obligated to apply for or furnish such appeal bonds. The determination by the Company as to the reasonableness of Claims Expenses shall be conclusive on the Insured. Claims Expenses do not include salary charges, wages or expenses of partners, principals, officers, directors, members or employees of either the Company or Insured. Claims Expenses do not include loss of earnings or other remuneration by or to any Insured. (C) "Commercial Property" means any property other than: a single family residence; a single family vacant lot; a multifamily property of nine (9) or fewer units; or vacant land for a multifamily property of nine (9) or fewer units. (D) "Damages" means a compensatory monetary amount for which the Insured may be held legally liable, including judgments (inclusive of any pre- or post -judgment interest), awards, or settlements negotiated with the approval of the Company. Damages do not include: (1) any return, withdrawal, reduction or restitution of fees, expenses, costs, profits or other charges for Professional Services performed or to be performed by the Insured and injuries that are a consequence of the foregoing; (2) fines, sanctions, forfeitures, taxes or penalties; (3) any punitive or exemplary Damages or the multiple portion of any multiplied damage award; (4) attorney's fees awarded pursuant to an agreement or contract; or (5) injunctive or declaratory relief. (E) "Disciplinary Proceeding" means any proceeding, investigation, inquiry or review by a state regulatory or disciplinary official, board or agency with authority over the Insured's license or certification to provide Professional Services regarding alleged violations of applicable professional practice standards in the Insured's performance of Professional Services. (F) "Entity" means any individual, sole proprietor, partnership, limited liability company or corporation or other form of business association recognized as such by law, but does not include any joint venture in which the Insured is a participant. (G) "Extended Reporting Period" means the applicable period of time after the end of the Policy Period for reporting Claims arising out of Wrongful Acts committed or alleged to have been committed prior to the end of the Policy Period and on or subsequent to the Retroactive Date, and otherwise covered by this Policy. (H) "Inception Date" means the effective date of the first appraisal and Valuation Professional Liability Insurance Policy issued by the Company (or, if earlier, the first policy issued to the Named Insured as a member of the .Appraisers Liability Insurance Purchasing Group) to the Named Insured and continuously renewed and maintained in effect to the inception of this Policy Period. (I) "Insured" means only the following: (1) The Named Insured designated in Item 1 of the Declarations, or by endorsement to this Policy; (2) .Any person who is, was or hereafter becomes a partner, principal, officer, director, manager, member, or employee of the Named Insured, but only while acting on behalf of the Named Insured; (3) any independent contractors or temporary personnel who are natural persons, but only while acting under the direct supervision and on behalf of the Named Insured; (4) The estate, heirs, executors, administrators, and legal representatives of an Insured, in the event of such Insured's death, disability, incapacity, insolvency, or bankruptcy, but only to the extent such Insured would have otherwise been provided coverage under this Policy; and (5) The lawful spouse of any Insured solely by reason of: (a) The spousal status, or (b) a spouse's ownership interest in property or assets that are sought as recovery. Aspen Specialty Insurance Company Page 4 of 12 LLW02S (12/14) This Definition (I)(5) shall not apply to the extent a Claim alleges any Wrongful Act or Personal Injury by such spouse. (n "Mediation" means a non -binding process in which a neutral panel or individual assists the parties in reaching their own settlement. To be considered Mediation under this Policy, the process must be of a kind set forth in the Commercial Mediation Rules of the American arbitration .association. The Company, however, at its sole option, may recognize any mediation process or forum presented for approval. (I) "Personal Injury" means false arrest, detention or imprisonment; malicious prosecution; publication or utterance of a libel or slander or other defamatory or disparaging material; publication or utterance in violation of an individual's right of privacy; wrongful entry or eviction; or invasion of the right of private occupancy. (L) "Policy Period" means the period of time specified in Item 2 of the Declarations, or any shorter period that may occur as a result of an expiration or cancellation of this Policy, and specifically excludes any Extended Reporting Period hereunder. (M) "Pollutants" means any solid, liquid, gaseous or thermal irritant or contaminant, including but not limited to asbestos, asbestos products, radon, formaldehyde, smoke, vapor, soot, fumes, acids, alkalis, chemicals, and "waste". "Waste" includes materials to be recycled, reconditioned or reclaimed. (I) "Professional Services" means those services the Insured is legally qualified to perform for others in the Insured's capacity as a Real Estate Appraiser and include expert witness, litigation support and consulting services performed in the Insured's capacity as a Real Estate Appraiser and services as a Real Estate Appraiser on or for a professional peer review, licensing, certification or standards board or committee. (0) "Real Estate Appraiser" means an Entity engaged in the profession of estimating the value of real estate or performing real estate appraisal review for others for a fee, including services usually and customarily performed or rendered by a licensed or certified real estate appraiser. (P) "Retroactive Date" means the date specified in Item 4 of the Declarations. This Policy shall only apply to Claims resulting from Wrongful Acts committed on or after that date. (Q) "Wrongful Act" means any actual or alleged negligent act, error or omission, or Personal Injury in the rendering of Professional Services. V. EXCLUSIONS This Policy does not apply to, and the Company shall not be liable for Damages and/or Claims Expenses or have any duty to undertake or continue the defense of, any Claim made against an Insured: (A) Based upon, attributable to, or arising out of any deliberately dishonest, malicious, criminal or fraudulent act or omission or any willful violation of law by an Insured; however, this exclusion shall not apply to any Insured who did not commit, participate in, or have knowledge of any such act, omission or violation of law described in this exclusion. (B) By or on behalf of or with the assistance of any: (1) Insured; (2) Entity of which the Insured is a director, officer, partner, principal stockholder or employee; or (3) Entity under common ownership with the Insured. (C) Based upon, attributable to, or arising out of any actual or alleged discrimination, humiliation, harassment, or misconduct by the Insured because of race, creed, color, age, gender, sex, sexual preference or orientation, national origin, religion, disability, handicap, or marital status; however, the Company shall pay Claims Expenses for the defense of such Claims up to a maximum of $50,000 for the Policy Period, without the Company incurring any liability to pay Damages; provided, however, that the Company's obligation to pay Claims Expenses does not extend to any complaint filed with any state or federal agency and to any Disciplinary Proceeding. (D) By a current or former employee, independent contractor or job applicant of the Insured in their capacity as such. (E) Based upon, attributable to, or arising out of bodily injury, sickness, disease, emotional distress, mental anguish, outrage, humiliation or death. Aspen Specialty Insurance Company Page 5 of 12 LLN002S (12/14) (F) Based upon, attributable to, or arising out of any injury to or destruction of any tangible property including loss of use thereof. (G) Based upon, attributable to, or arising out of any liability assumed by the Insured under any contract or agreement, unless such liability would have attached to the Insured even in the absence of such contract or agreement. (H) Based upon, attributable to, or arising out of Professional Services involving property in which the Insured or a member of the Insured's family has, had or contemplated having an ownership interest. (I) Based upon, attributable to, or arising out of Professional Services involving property for which the Insured, or an Entity in which the Insured is a partner, officer, director, stockholder or employee, acts as a real estate agent, broker or property manager. (n Based upon, attributable to, or arising out of representations or warranties, express, implied or otherwise, made by the Insured pertaining to the guarantee of future value of property. (K) Based upon, attributable to, or arising out of the Insured's activities as a property manager, appraisal management company, manager of mortgage -related services performed by independent contractors, real estate agent or real estate broker. (L) Based upon, attributable to, or arising out of: (1) Professional Services used or included in a solicitation, prospectus or offering to prospective investors, limited partners, members or shareholders in a real estate syndicate, real estate investment trust, limited partnership or other investment vehicle; or (2) alleged violations of the Securities .Act of 1933 or 1934 and the amendments thereto, or any state blue sky or securities law or similar federal or state law. This exclusion shall not apply if the Insured's appraisal or other work product was prepared for or on behalf of a mortgage lender, bank, savings and loan or credit union and was used or included in the solicitation, prospectus or offering without the Insured's consent or knowledge. (M) Based upon, attributable to, or arising out of Professional Services performed without a valid license or certification, if required, in the jurisdiction in which the property is located; performed while the Insured's license or certification in such jurisdiction was suspended; or performed in violation of any penal or criminal statute or ordinance. (l) Based upon, attributable to, or arising out of Professional Services involving undeveloped or vacant land whose proposed use is for multiple unit single family housing developments, condominium development, co- operative housing developments or apartment developments consisting of ten (10) units or more, unless the Insured's appraisal or report is performed or supervised by and signed by an Insured who has been specifically approved by the Company to perform such Professional Services and is so indicated in an endorsement attached to and made part of this Policy. (0) Based upon, attributable to, or arising out of Professional Services involving Commercial Property unless the Insured's appraisal or other work product is performed or supervised by and signed by an Insured who has been specifically approved by the Company to perform such Professional Services regarding Commercial Property and so indicated by being named in an endorsement attached to and made a part of this Policy. (P) Based upon, attributable to, or arising out of the insolvency of the Insured. (Q) Based upon, attributable to, or arising out of the appraisal or appraisals of two or more properties: (1) that were sold within the twelve months prior to, or had another sale pending at, the time of the appraisal(s); (2) where the Insured knew of or should have discovered such sale or pending sale by consulting usual and customary data sources; and (3) where the Insured failed to note such sale or pending sale on the appraisal. (R) Based upon, attributable to, or arising out of punitive, exemplary or multiple damage awards or attorney fee awards or any other type of non -compensatory damage awarded pursuant to the "Deceptive Trade Practices .Aspen Specialty Insurance Company Page 6 of 12 LLA002S (12/ 14) "I Act", "Consumer Protection Act," "Federal Racketeer Influenced and Corrupt Organization .act," "United States of America CAN-SPANI .act of 2003," "United States of America Telephone Consumer Protection ,act (TCPA) of 1991" and any amendments thereof; or any similar statutes, ordinance, rule or regulation of anv agency or State relating to the communication, distribution, publication, sending or transmitting of content, information or material. (S) Based upon, attributable to, or arising out of: (1) diminution of value, which would not have occurred in whole or in part had there not been actual, alleged or threatened discharge, dispersal, seepage, migration, release or escape of Pollutants at any time; (2) any request, demand or order to test for, monitor, clean up, remove, contain, treat, detoxify or neutralize, or in any way respond to, or assess the effects of Pollutants; (3) testing for, monitoring, cleaning up, removing, containing, treating, detoxifying or neutralizing, or in any way responding to, or assessing the effects of Pollutants; or (4) the Insured noting or failing to note the presence or absence of any Pollutants; Provided that this exclusion (S) shall not apply to the extent of any express Pollutants -related endorsement to this Policy purchased by the Insured and attached to and made part of this Policy. (A) REPORTING OF WRONGFUL ACTS THAT MAY GIVE RISE TO A CLAIM If during the Policy Period the Insured becomes aware of a specific Wrongful Act that may reasonably be expected to give rise to a Claim against the Insured, and if the Insured reports such specific Wrongful Act to the Company during the Policy Period in writing, then any Claim subsequently arising from such specific Wrongful Act duly reported in accordance with this paragraph shall be deemed under this Policy to be a Claim made during the Policy Period. Such written notice to the Company shall include: (1) particulars as to the reasons for anticipating such a Claim; (2) the nature and dates of the alleged Wrongful Act; (3) the alleged injuries or Damages sustained; (4) the names of potential claimants, if available; and (5) the manner in which the Insured first became aware of the specific Wrongful Act. (B) NOTICE OF CLAIM OR WRONGFUL ACTS In the event of a Claim, the Insured shall as a condition precedent to the coverage afforded by this Policy: (1) Give written notice of the Claim as soon as practicable after the Claim is first made, but in no event later than sixty (60) days after expiration or termination of this Policy, or during the Extended Reporting Period, if applicable, to the Company's designated program administrator at the address in Item 7 of the Declarations. (2) Upon giving notice of the Claim, immediately forward to the Company's designated program administrator at the address in Item 7 of the Declarations every demand, notice, summons, complaint or other document received in connection with the Claim by the Insured and any other relevant information requested by the Company's program administrator including complete copies of the appraisal(s) or other work product giving rise to the Claim. (3) Notice of any Claim or specific Wrongful Act shall not be effective until the date of receipt by the Company's program administrator at the address in Item 7 of the Declarations. (C) COOPERATION The Insured shall cooperate with the Company and attorneys representing the Insured in connection with the defense or handling of any Claim, subpoena or pre -claim investigation. Upon the Company's or defense counsel's request, the Insured shall, without charge, meet with and assist attorneys representing the Insured, assist with the preparation of responses to discovery and other requests for information, assist in effecting settlement, obtain the attendance of witnesses, and/or submit to examination and questioning by a -Xspen Specialty Insurance Company Page 7 of 12 LL1002S (12/ 14) representative of the Company (under oath if requested). The Insured shall, without charge, provide the Company and attorneys representing the Insured with all available information, records and documentation relevant to any matter under investigation by the Company or to any Claim, subpoena or pre -claim investigation. Upon the Company's request, the Insured shall attend and testify at hearings, depositions and trials relative to the defense of a Claim. The Insured shall take such action as may be necessary to secure and effect any rights of indemnity, contribution or apportionment which the Insured and/or the Company may have. (D) LIMITS OF LIABILITY AND RELATED CLAIMS The Company's maximum liability for all Damages and Claims Expenses resulting from each Claim shall be the Limit of Liability for each Claim set forth in Item 6(A) of the Declarations. The Company's maximum aggregate liability for all Damages and Claims Expenses resulting from all Claims covered by this Policy shall be the aggregate Limit of Liability for all Claims set forth in Item 6(B) of the Declarations. Two or more Claims based upon, attributable to or arising out of. (i) the same or related Wrongful Act(s); or (ii) multiple appraisals or other work product concerning the same property, for the same or related client(s), or relating to the same or related borrower(s) or owner(s) shall be treated as a single Claim regardless of whether made against one or more than one Insured. All Claims based upon, attributable to or arising out of. (i) the same or related Wrongful Act(s); or (ii) multiple appraisals or other work product concerning the same property, for the same or related client(s), or relating to the same or related borrower(s) or owner(s) shall be considered first made within the Policy Period in which the earliest of such Claims was first made, or deemed to be made pursuant to Conditions (A) of this Policy, and all such Claims shall be subject to the single Limit of Liability set forth in Item 6(A) of the Declarations for the applicable Policy Period. No coverage shall exist by virtue of this paragraph for any Claim which would not otherwise have been covered by a policy issued by the Company. The Limits of Liability of the Company for the Extended Reporting Period, if applicable, shall be part of, and not in addition to, the Limits of Liability of the Company for the Policy Period. Any payment of Damages and/or Claims Expenses by the Company shall reduce the Limits of Liability. Claims made against more than one Insured under this Policy shall not operate to increase the limit of the Company's liability. (E) DEDUCTIBLE The Deductible stated in Item 3 of the Declarations shall only apply to Damages. The Company shall only be liable for those amounts payable under this Policy for Damages which are in excess of the Deductible amount stated in Item 3 of the Declarations. The Deductible shall apply separately to each Claim and shall be bome by the Insured and remain uninsured. The Insured shall be liable for the Deductible amount set forth in Item 3 of the Declarations for each Claim. The Deductible shall not reduce or increase the Limits of Liability. For purposes of the Deductible, two or more Claims treated as a single Claim under Conditions (D) shall only be subject to one Deductible amount. The Insured shall promptly make any required Deductible payments within thirty (30) days of written demand by the Company. The Company shall have no obligation to make payments within the Deductible and to then seek reimbursement from the Insured. (F) DEDUCTIBLE CREDITS (1) Early Resolution of Claims Deductible Credit If within one year of being reported in accordance with Conditions (B) of this Policy, or within one year of being deemed to be made pursuant to Conditions (A) of this Policy, a Claim is fully and finally resolved to the satisfaction of all parties, including the Company, and all Damages and Claims Expenses arising from such Claim have been paid, the Insured's Deductible obligation for such Claim shall be reduced by 25% up to a maximum reduction of $5,000. (2) Mediation of Claims Deductible Credit Aspen Specialty Insurance Company Page 8 of 12 LL1002S (12/14) If a Claim is fully and finally resolved to the satisfaction of all parties including the Company as a result of Mediation, the Insured's Deductible obligation for such Claim shall be reduced by 50% up to a maximum reduction of $5,000. (G) ACQUISITION OR CREATION OF ANOTHER ENTITY If during the Policy Period, the Named Insured acquires or creates another Entity in which the Named Insured has an ownership interest of greater than 50%, such Entity shall be considered an Insured under this Policy, but only for Wrongful Acts committed after the date of such acquisition or creation. As a condition precedent to coverage under this Condition (G), the Named Insured shall give written notice to the Company of the acquisition or creation of such Entity no later than ninety (90) days after the effective date of such acquisition or creation, together with such information that the Company may require. Upon receipt of notice of such acquisition or creation, the Company may at its sole option agree to appropriately endorse this Policy subject to additional premium and/or changed terms and conditions. If the Named Insured does not agree to the additional premium and/or changed terms and conditions, if any, coverage otherwise afforded under this provision for such acquired or created Entity shall terminate ninety (90) days after the effective date of such acquisition or creation, or at the end of the Policy Period, whichever is earlier. If the Named Insured ceases to have an ownership interest of greater than 50% in such acquired or created Entity, coverage otherwise afforded under this provision shall terminate effective on the date such ownership interest ceases. (H) NOTICE OF CANCELLATION (1) Cancellation by Named Insured. This Policy may be cancelled by the Named Insured by surrender of this Policy to the Company or by giving written notice to the Company stating when thereafter such cancellation shall be effective. If this Policy is cancelled by the Named Insured, the Company shall retain the customary short rate proportion of the premium hereon, except as otherwise provided in this Policy. (2) Cancellation by the Company. The Company may cancel this Policy for material change in the risk, for any material misrepresentation in the application for this Policy, or for nonpayment of premium or Deductible. The Company may with respect to any one or more Insureds, rescind or revoke coverage for any revocation, suspension or surrender of the Insured's professional license or right to practice his profession. Notice of cancellation shall be mailed to the Named Insured by first class U.S. mail, or other form of mailing as required by the state in which the Named Insured is located, to the Named Insured's address shown in Item 1 of the Declarations. Written notice shall state when, but not less than sixty (60) days thereafter (or ten (10) days thereafter when cancellation is due to non-payment of premium or Deductible), the cancellation shall be effective. The mailing of such notice of cancellation shall be sufficient proof of notice and this Policy shall terminate at the date and hour specified in such notice. If this Policy is cancelled by the Company, the Company shall retain the pro rata proportion of the premium hereon. (3) Certificates of Insurance/Notice of Cancellation. At the request of the Named Insured and at the discretion of the Company, before and during the Policy Period, the Company may issue certificates of insurance to third -party certificate holders, who are not Insureds, evidencing coverage of Insureds under this Policy which require thirty (30) days written notice of cancellation to such certificate holder(s). In the event that the Company has issued any certificate(s) of insurance requiring thirty (30) days written notice of cancellation of this Policy to a third -party certificate holder and notwithstanding any shorter period that would otherwise be permitted in Sections (1) and (2) above: (a) If cancellation is requested by the Named Insured, then the earliest effective date of cancellation shall be no earlier than thirty (30) days following the expiration of three (3) business days after the Company received written notice of the request to cancel from the Named Insured; (b) If cancellation is by the Company, then the earliest effective date of cancellation shall be sixty (60) days from the date of mailing of the Company's notice of cancellation to the Named Insured, or thirty (30) days when cancellation is due to non-payment of premium or Deductible; and (c) The Company shall mail notice of cancellation by first class U.S. mail to the third -party certificate holder(s) requiring notice at least thirty (30) days before the effective date of the cancellation. (I) NOTICE OF NON -RENEWAL Aspen Specialty Insurance Company Page 9 of 12 LL1002S (12/ 14) The Company may non -renew this Policy by mailing written notice to the Named Insured by first class mail, or other form of mailing as required by the state in which the Named Insured is located, to the Named Insured's address shown in Item 1 of the Declarations. Written notice shall state when, but not less than sixty (60) days thereafter, the non -renewal shall be effective. (n EXTENDED REPORTING PERIOD OPTIONS The following two options are available under this Policy with respect to the purchase of an Extended Reporting Period: (1) In case of cancellation or non -renewal of this Policy by either the Named Insured or the Company, for reasons other than material misrepresentation in the application for this Policy or non-payment of premium or Deductible, the Named Insured shall have the right as outlined below to purchase an Extended Reporting Period under this Policy subject to all other terms, conditions, limitations of and any endorsements to this Policy: (a) for a period of one year for an additional premium of 100% of the total annual premium; (b) for a period of two years for an additional premium of 135% of the total annual premium; (c) for a period of three years for an additional premium of 170% of the total annual premium; or (d) for a period of five years for an additional premium of 200% of the total annual premium. The applicable period of the Extended Reporting Period under this Section (1) shall immediately commence on the effective date of such cancellation or refusal to renew but only with respect to any Wrongful Act first committed on or after the Retroactive Date and before the date of such cancellation or non -renewal. (2) In the case of cancellation or non -renewal of this Policy by the Named Insured due to retirement from the active rendering of all Professional Services for which the Named Insured has been covered under the Policy, the Named Insured shall have the right to purchase an unlimited extension of the time for reporting Claims under this Policy, subject to all other terms, conditions, limitations of and endorsements to this Policy. The Extended Reporting Period under this Section (2) shall only apply to any Wrongful Act first committed on or after the Retroactive Date and before the cancellation or failure to renew. The option is only available if: (a) the Named Insured was continuously Insured with the Company for at least five (5) consecutive years; and (b) the Named Insured has performed Professional Services on a full-time basis for at least twenty (20) years or is age 65 or older. The premium for this unlimited Extended Reporting Period shall be 300% of the Company's total annual premium. However, if the Named Insured: (a) otherwise qualifies pursuant to the foregoing requirements for the unlimited Extended Reporting Period due to retirement; and (b) is the only appraiser of the Named Insured: (i) at the time of the application for this Policy; and (ii) prior to his/her retirement from the active rendering of all Professional Services for which the Named Insured has been covered under the Policy, Then the Company will waive the premium otherwise stated for this unlimited Extended Reporting Period. The following additional terms and conditions apply to either of the Extended Reporting Period options set forth above: The offer of renewal terms, conditions, Limits of Liability and/or premiums different from those of this Policy shall not constitute a cancellation or refusal to renew. Aspen Specialty Insurance Company Page 10 of 12 LLA,002S (12/14) The Extended Reporting Period shall terminate on the effective date and hour of any other insurance issued to the Named Insured or successor to the Named Insured which replaces, in whole or in part, the coverage afforded by the Extended Reporting Period. As a condition precedent to the Named Insured's right to purchase the Extended Reporting Period, the full premium and any Deductible(s) due for this Policy and Policy Period must have been paid. The Named Insured's right to elect the Extended Reporting Period must be exercised by notice in writing not later than sixty (60) days following the non -renewal or cancellation date of this Policy, and must include payment of premium, if any, for the applicable Extended Reporting Period as well as payment of all premiums and any Deductible(s) due the Company. If such notice is not so given to the Company, the Named Insured shall not, at a later date be able to exercise such right. At the commencement of any Extended Reporting Period, the entire premium thereafter shall be deemed earned and in the event the Named Insured terminates the Extended Reporting Period before its expiration date, the Company shall not be liable to return to the Named Insured any portion of the premium for the Extended Reporting Period. The fact that this Policy may be extended by virtue of an Extended Reporting Period shall not in any way increase the Limits of Liability as set forth in the Declarations. The Extended Reporting Period shall be renewable at the sole option of the Company. (I) OTHER INSURANCE If any Claim or Wrongful Act noticed to the Company under this Policy is insured by another valid policy or policies, then this Policy shall apply only in excess of the amount of any deductibles, retentions and limits of liability under such other policy or policies, whether such other policy or policies are stated to be primary, contributory, excess, contingent or otherwise, unless such other insurance is written specifically excess of this Policy by reference in such other policy to the Policy Number indicated on this Policy's Declarations. (L) SUBROGATION In the event of any payment under this Policy, the Company shall be subrogated to all of the Insured's rights of recovery against any person or organization, and the Insured shall execute and deliver instruments and papers and do whatever else is necessary to secure such rights. The Insured shall do nothing after a Claim is made to prejudice such rights. The Company hereby waives its subrogation rights against a client of the Insured to the extent that the Insured had, prior to a Claim, or a Wrongful Act reasonably expected to give rise to a Claim, entered into a written agreement to waive such rights. Any amount recovered upon the exercise of such rights of subrogation shall first be applied to the repayment of expenses incurred by the Company toward subrogation, second toward reimbursement of any payments made by the Insured pursuant to the Insured's Deductible, and any remaining balance shall be the Company's. (M) ALTERATION AND ASSIGNMENT No change in, modification of, or assignment of interest under this Policy shall be effective except when made by written endorsement by an authorized representative of the Company. (I) REIMBURSEMENT OF THE COMPANY If the Company has paid any Damages and/or Claims Expenses in excess of the applicable Limit of Liability or within the amount of the applicable Deductible, the Insured shall be liable to the Company for any and all such amounts and, upon demand, shall pay such amounts to the Company promptly. (0) ENTIRE CONTRACT By acceptance of this Policy the Insured agrees that the statements in the Declarations and application are its agreements and representations, that this Policy is issued in reliance upon the truth of such representations and that this Policy embodies all agreements existing between the Insured and the Company. (P) AUDIT Aspen Specialty Insurance Company Page 11 of 12 LL1002S (12/ 14) The Company may examine and audit the Insured's books and records at any time during the Policy Period and within three (3) years after termination of this Policy to the extent such books and records relate to the subject matter of this Policy. (Q) NAMED INSURED SOLE AGENT The Named Insured shall be the sole agent of all Insureds hereunder for the purpose of effecting or accepting any amendments to or cancellation of this Policy, for the purpose of receiving such notices as may be required by law and/or any provision(s) of this Policy, for the completing of any application and the making of any representations, for the payment of any premium and the receipt of any return premium that may become due under this Policy, for the payment of any Deductible obligations that may become due under this Policy, and the exercising or declining to exercise any right under this Policy, including declining or exercising any Extended Reporting Period. (R) BANKRUPTCY OR INSOLVENCY The bankruptcy or insolvency of any Insured or an Insured's estate will not relieve the Company of its obligations under this Policy. (S) COMPLIANCE WITH TRADE SANCTIONS This insurance does not apply to the extent that trade or economic sanctions or other similar laws or regulations prohibit the Insurer from providing insurance. IN WITNESS WHEREOF, the Company has caused this Policy to be executed and attested, but this Policy shall not be valid unless countersigned on the Declarations page by a duly authorized representative of the Company. PRESIDENT Aspen Specialty Insurance Company LLA,002S (12/14) Page 12 of 12 SECRETARY r� ARKANSAS y APPRAISER LICENSING & CERTIFICATION BOARD This is to certify that '. Thomas Rite License #: CG 0354 has complied with the requirements of Arkansas Code Section 17-14-201 et seq,; and is the holder of a valid certificate. This card is for identification purposes only. 6/30/2020 Expiration Date Chairman RFP 20-05, Appraisal Services - Proposal Data Show/Hide A Supplier ' Arkansas Secretary of State Filing # Reed & Associates, Inc. 100043307 Scorecard Open... Rife & Company Appraisers 100178957 Scorecard Open... Request for Taxpayer Give Form to the worm Rev. November2017) Identification Number and Certification requester. Do not Decartment of the Treasury send to the IRS. internal Revenue Service ► Go to www.irs.gov/ForrnW9 for instructions and the latest information. 1 Name (as shown on your income tax return). Name is required on this line: do not leave this line blank. Rife and Company, Inc. 2 Business nameldisregarded entity name, if different from above m 3 Check appropriate box for federal tax classification of the person whose name is entered on line 1. Check only one of the 4 Exemptions (codes apply only to mfollowing seven boxes. certain entities, not individuals: see p, o ❑ Individual/sole proprietor or ❑ C Corporation R1 S Corporation ❑ Partnership ❑ Trust/estate instructions on page 3): single -member LLC Exempt payee code (if any) 4 ❑ Limited liability company. Enter the tax classification (C=C corporation, S=S corporation, P=Partnership) ► p Note: Check the appropriate box in the line above for the tax classification of the single -member owner. De not check Exemption from FATCA reporting in 'C 5 if the LLC is classified as a single -member LLC that is disregarded from the owner unless the owner of the LLC is LLC from for U.S. federal Otherwise, LLC code d an ( y} another that is not disregarded the owner tax purposes. a single -member that another is disregarded from the owner should check the appropriate box for the tax classification of its owner. ❑ Other (see instructions) ► 'Apples to 9"wnts -tend mmide the U. ) 5 Address (number, street, and apt. or suite no.) See instructions. Requester's name and address (optional) 1001 North Walton Boulevard 6 City, state, and ZIP code Bentonville, AR 7 List account number(s) here (optional) Taxpayer Identification Number (TIN) Enter your TIN in the appropriate box. The TIN provided must match the name given on line 1 to avoid social security number backup withholding. For individuals, this is generally your social security number (SSN). However. for a resident alien, sole proprietor, or disregarded entity, see the instructions for Part 1, later. For other - 11:1 - entities. it is your employer identification number (EIN). If you do not have a number, see How to qet a TIN, later. or Note: If the account is in more than one name, see the instructions for line 1. Also see What Name and I Employer identification number Number To Give the Requester for guidelines on whose number to enter. 7 1— 0 1 8 1 3 1 8 1 4 1 1 1 5 Under penalties of perjury, I certify that: 1. The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me); and 2. 1 am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that I am no longer subject to backup withholding; and 3. 1 am a U.S. citizen or other U.S. person (defined below); and 4. The FATCA code(s) entered on this form (f any) indicating that I am exempt from FATCA reporting is correct. Certification instructions. You must cross out Rem 2 above if you have been notified by the IRS that you are currently subject to backup withholding because you have failed to report all interest and dividends on your tax return. For real estate transactions, item 2 does not apply. For mortgage interest paid, acquisition or abandonment of secured property, cancellation of debt, contributions to an individual retirement arrangement (IRA), and generally, payments other than interest and dividends, you arepot required to sign the certification, but you must provide your correct TIN. Seethe instructions for Part 11, later. Sign Here Signature of —I-,&Ma4, U.S. Date► 0 e /fSt:t 0/1/2019 person► General Instructions • Form 1099-DIV (dividends, ir}clu Ing those from stocks or mutual funds) Section references are to the Internal Revenue Code unless otherwise • Form 1099-MISC (various types of income, prizes, awards, or gross noted. proceeds) Future developments. For the latest information about developments . Form 1099-B (stock or mutual fund sales and certain other related to Form W-9 and its instructions, such as legislation enacted transactions by brokers) after they were published, go to www.irs.gov/FormIN9. • Form 1099-S (proceeds from real estate transactions) Purpose of Form • Form 1099-K (merchant card and third party network transactions) An individual or entity (Form W-9 requester) who is required to file an • Form 1098 (home mortgage interest), 1098-E (student loan interest), information return with the IRS must obtain your correct taxpayer 1098-T (tuition) identification number (TIN) which may be your social security number • Form 1099-C (canceled debt) (SSN), individual taxpayer identification number QTIN), adoption • Form 1099-A (acquisition or abandonment of secured property) taxpayer identification number (ATIN), or employer identification number Use Form W-9 only if you are a U.S. person (including a resident (EIN), to report on an information return the amount paid to you, or other alien), to provide your correct TIN. amount reportable on an information return. Examples of information returns include, but are not limited to, the following. If you do not return Form W-9 to the requester with a TIN, you might • Form 1099-INT (interest earned or paid) be subject to backup withholding. See What is backup withholding, later. Cat. No. 10231X Form W-9 (Rev. 11-2017)