Client hereby engages Appraiser to complete an appraisal assignment as follows:
COD from Borrower Bill Escrow Other
Client/Lender is ultimately responsible for payment and will guarantee payment if not paid through escrow. Payment due at receipt of appraisal. Late after 30 days and subject to late fees and legal fees.
PROPOSED IMPROVEMENTS If the property appraised consists of proposed improvements, Client shall provide to Appraiser plans, specifications, or other documentation sufficient to identify the extent and character of the proposed improvements. PROPERTIES UNDER CONTRACT FOR SALE If the property appraised is currently under contract for sale, Client shall provide to Appraiser a copy of said contract including all addenda. CONFIDENTIALITY Appraiser shall not provide a copy of the written Appraisal Report to, or disclose the results of the appraisal prepared in accordance with this Agreement with, any party other than Client, unless Client authorizes, except as stipulated in the Confidentiality Section of the ETHICS RULE of the Uniform Standards of Professional Appraisal Practice (USPAP). CHANGES TO AGREEMENT Any changes to the assignment as outlined in this Agreement shall necessitate a new Agreement. The identity of the client, intended users, or intended use; the date of value, type of value, or property appraised, cannot be changed without a new Agreement. CANCELLATION Client may cancel this Agreement at any time prior to the Appraiser’s delivery of the Appraisal Report upon written notification to the Appraiser. Client shall pay Appraiser for work completed on assignment prior to Appraiser’s receipt of written cancellation notice, unless otherwise agreed upon by Appraiser and Client in writing. NO THIRD PARTY BENEFICIARIES Nothing in this Agreement shall create a contractual relationship between the Appraiser or the Client and any third party, or any cause of action in favor of any third party. This Agreement shall not be construed to render any person or entity a third party beneficiary of this Agreement, including, but not limited to, any third parties identified herein. USE OF EMPLOYEES OR INDEPENDENT CONTRACTOR Appraiser may use employees or independent contractors at Appraiser’s discretion to complete the assignment, unless otherwise agreed by the parties. Notwithstanding, Appraiser shall sign the written Appraisal Report and take full responsibility for the services provided as a result of this Agreement. TESTIMONY AT COURT OR OTHER PROCEEDINGS Unless otherwise stated in this Agreement, Client agrees that Appraiser’s assignment pursuant to this Agreement shall not include the Appraiser’s participation in or preparation for, whether voluntarily or pursuant to subpoena, any oral or written discovery, sworn testimony in a judicial, arbitration or administrative proceeding, or attendance at any judicial, arbitration, or administrative proceeding relating to this assignment. APPRAISER INDEPENDENCE Appraiser cannot agree to provide a value opinion that is contingent on a predetermined amount. Appraiser cannot guarantee the outcome of the assignment in advance. Appraiser cannot insure that the opinion of value developed as a result of this Assignment will serve to facilitate any specific objective by Client or others or advance any particular cause. Appraiser’s opinion of value will be developed competently and with independence, impartiality and objectivity. GOVERNING LAW & JURISDICTION The interpretation and enforcement of this Agreement shall be governed by the laws of the state of California, exclusive of any choice of law rules.
