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Contract For Professional Appraisal Services

(APPRAISAL CONTRACT)

AGREEMENT made on (Date), 20 ___, between ___________ hereinafter referred to as Client, and of ____________ hereinafter referred to as Appraiser, agree as follows:

I - Identification:

Client hereby engages Appraiser, and Appraiser hereby agrees to prepare an Appraisal Report on ________, more particularly described as follows:

Address and/or Location:

Legal Description:

Property Description:

II - Purpose of the Report:

Appraiser agrees to furnish client three (3) copies of a written appraisal report. The report will be prepared in conformity with the Uniform Standards of Professional Appraisal Practice (USPAP) of the Appraisal Foundation and Section 34.42 (f), Title XI of the Federal Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FFIREA).

III - Authorization and Data to be Furnished

Client authorizes the Appraiser to inspect the premises; if applicable, and agrees to furnish Appraiser with all pertinent data which Appraiser requests in connection with the assignment. If special legal instructions are to be considered by the Appraiser, such instructions shall be in writing and the basis for such instruction in applicable case law shall also be provided to the Appraiser.

IV - Compensation:

Client agrees to pay Appraiser, for services authorized, a fee of _________ (dollars) payable upon submission of monthly statements, if applicable, or upon delivery of the report. If the fee is to be paid on an hourly or daily basis, Appraiser agrees to keep accurate time records and to furnish Client, upon request, copies of such time records. It is understood and agreed that the fee is not contingent upon and bears no relationship to the valuation or conclusion to be reported.

V - Retainer:

Appraiser acknowledges receipt of _______________ ($0,000), as a retainer, herein to be credited against the compensation designated in Article IV of this Agreement.

VI - Completion Date Estimate:

Appraiser agrees to use his best efforts to complete this appraisal by thirty days from the date of acknowledgment of this instrument. Said completion date is an estimate and does not take into consideration pretrial or court time, as well as delays beyond the control of the Appraiser, such as illness, lack of...

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