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1 PROFESSIONAL SERVICES AGREEMENT 2 Donahue & Company, Inc. 3 THIS AGREEMENT is made and entered into this 21st day of April, 2000, by and 4 between the REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE, a public agency, 5 hereinafter referred to as "AGENCY" and DONAHUE & COMPANY, INC., a California 6 corporation ("Contractor"), with reference to the following facts: 7 A. Agency desires to obtain the services of a qualified independent appraiser for the 8 preparation of an appraisal report in conjunction with the Town Square Redevelopment Project. 9 B. Contractor is qualified to provide such appraisal services. 10 NOW, THEREFORE, Agency agrees to retain and does hereby retain Contractor and 11 Contractor agrees to provide the services required according to the terms and conditions and for the 12 consideration hereinafier set forth: 13 1. Scope of Services. Contractor shall prepare a full narrative appraisal report in 14 triplicate, meeting the Uniform Standards of Professional Appraisal Practice of the Appraisal 15 Foundation, of the real property listed in Exhibit A attached to this Agreement. 16 Agency shall furnish Contractor a map or maps as may be appropriate showing the 17 location of the property or properties affected by the proposed project. 18 The appraisal report shall contain the following: all real estate items (land, building, and 19 appurtenant on-site improvements), exclusive of non-realty fixtures/equipment and business 20 inventory; leasehold interests; pertinent property data; discussions and conclusion of highest and 21 best use; explanation of approach to value; summary and tabulation of market value; analysis of 22 market data and conclusions of value, including a severance damage analysis if necessary; reports 23 of supporting market data, verified where reasonably possible; the conclusion of the values and the 24 date of value. Unless another date is specified by Agency, the date of value shall be Contractor's 25 initial field inspection date. 26 Contractor's report will contain other reasonably stated assumptions, premises and 27 conditions as may be deemed appropriate, in accordance with the Uniform Standards of