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18-042 Carneghi-Nakasako & Associates, a Park Dedication Fee StudyCITY OF a PROFESSIONAL/CONSULTING SERVICES AGREEMENT CUPERTINO 1. PARTIES This Agreement is made and entered into as of _M_ru_·c_h_1~2_0_1_8 ____________ _ ("Effective Date") by and between the City of Cupertino, a municipal corporation ("City"), and Carneghi-Nakasako & Associates ("Contractor"), a California corporation for a Park Dedication Fee Study 2. SERVICES Contractor agrees to provide the services and perform the tasks ("Services") set forth in detail in Scope of Services, attached here and incorporated as Exhibit A . 3. TIME OF PERFORMANCE 3.1 This Agreement begins on the Effective Date and ends on June 30 , 2018 ("Contract Time"), unless terminated earlier as provided herein. Contractor's Services shall begin on March 1, 2018 and shall be completed byM __ a~y_l_5~, 2_0_1_8 _____ _ 3.2 Schedule of Performance. Contractor must deliver the Services in accordance with the Schedule of Performance , attached and incorporated here Exhibit B. 3.3 Time is of the essence for the performance of all the Services. Contractor must have sufficient time, resources, and qualified staff to deliver the Services on time. 4. COMPENSATION 4.1 Maximum Compensation. City will pay Contractor for satisfactory performance of the Services an amount that will based on actual costs but that will be capped so as not to exceed $ 15 000 ("Contract Price"), based upon the scope of services in Exhibit A and the budget and rates included in Exhibit C, Compensation attached and incorporated here. The maximum compensation includes all expenses and reimbursements and will remain in place even if Contractor's actual costs exceed the capped amount. No extra work or payment is permitted without prior written approval of City. 4.2 Invoices and Payments. Monthly invoices must state a description of the deliverable completed and the amount due for the preceding month. Within thirty (30) days of completion of Services, Contractor must submit a requisition for final and complete payment of costs and pending claims for City approval. Failure to timely submit a complete and accurate payment requisition relieves City of any further payment or other obligations under the Agreement. Proj ect Park Dedication Fee Study Profess ional/Consulting Contrac ts /Vers ion : No v 16, 201 7 Page I of8 5. INDEPENDENT CONTRACTOR 5.1 Status . Contractor is an independent contractor and not an employee, partner, or joint venture of City. Contractor is solely responsible for the means and methods of performing the Services and for the persons hired to work under this Agreement. Contractor is not entitled to health benefits , worker's compensation or other benefits from the City. 5.2 Contractor's Qualifications. Contractor warrants on behalf of itself and its subcontractors that they have the qualifications and skills to perform the Services in a competent and professional manner and according to the highest standards and best practices in the industry. 5.3 Permits and Licenses. Contractor wanants on behalf of itself and its subcontractors that they are properly licensed, registered, and/or certified to perform the Services as required by law and have procured a City Business License. 5.4 Subcontractors. Only Contractor's employees are authorized to work under this Agreement. Prior written approval from City is required for any subcontractor, and the terms and conditions of this Agreement will apply to any approved subcontractor. 5.5 Tools, Materials and Equipment. Contractor will supply all tools , materials and equipment required to perform the Services under this Agreement. 5.6 Payment of Taxes . Contractor must pay income taxes on the money earned under this Agreement. Upon City 's request, Contractor will provide proof of payment and will indemnify City for violations pursuant to the indemnification provision of this Agreement. 6. PROPRIETARY /CONFIDENTIAL INFORMATION In performing this Agreement, Contractor may have access to private or confidential information owned or controlled by the City, which may contain proprietary or confidential details the disclosure of which to third parties may be damaging to City. Contractor shall hold in confidence all City information provided by City to Contractor and use it only to perform this Agreement. Contractor shall exercise the same standard of care to protect City information as a reasonably prudent contractor would use to protect its own proprietary data. · 7. OWNERSHIP OF MATERIALS 7.1 Property Rights. Any interest (including copyright interests) of Contractor in any product, memoranda, study, report, map, plan, drawing, specification, data, record , document or other information or work, in any medium (collectively, "Work Product"), prepared by Contractor in connection with this Agreement will be the exclusive property of the City and shall not be shown to any third-party without prior written approval of City. 7.2 Copyright. To the extent permitted by Title 17 of U.S . Code, all Work Product arising out of this Agreement is considered "works for hire " and all copyrights to the Work Product will be the property of City. Alternatively, Contractor assigns to City all Work Product copyrights. Contractor may use copies of the Work Product for promotion only with City 's written approval. Project Park Dedication Fee Study Profess ion al/Co nsulting Co ntrac ts /Vers ion : N o v 16, 2 01 7 Page 2 of 8 7.3 Patents and Licenses. Contractor must pay royalties or license fees required for authorized use of any third party intellectual property, including but not limited to patented, trademarked , or copyrighted intellectual property if incorporated into the Services or Work Product of this Agreement. 7.4 Re-Use of Work Product . Unless prohibited by law and without waiving any rights, City may use or modify the Work Product of Contractor or its sub-contractors prepared or created under this Agreement, to execute or implement any of the following: (a) The original Services for which Contractor was hired ; (b) Completion of the original Services by others; (c) Subsequent additions to the original Services; and/or ( d) Other City projects. 7.5 Deliverables and Format. Contractor must provide electronic and hard copies of the Work Product, on recycled paper and copied on both sides , except for one single-sided original. 8. RECORDS Contractor must maintain complete and accurate accounting records relating to its performance in accordance with generally accepted accounting principles. The records must include detailed information of Contractor's performance, benchmarks and deliverables , which must be available to City for review and audit. The records and supporting documents must be kept separate from other records and must be maintained for four years from the date of City's final payment. 9. ASSIGNMENT Contractor shall not assign , sublease, hypothecate , or transfer this Agreement, or any interest therein, directly or indirectly, by operation of law or otherwise, without prior written consent of City. Any attempt to do so will be null and void. Any changes related to the financial control or business nature of Contractor as a legal entity is considered an assignment of the Agreement and subject to City approval, which shall not be unreasonably withheld. Control means fifty percent (50%) or more of the voting power of the business entity . 10. PUBLICITY/ SIGNS Any publicity generated by Contractor for the project under this Agreement, during the term of this Agreement and for one year thereafter, will reference the City's contributions in making the project possible. The words "City of Cupertino" will be displayed in all pieces of publicity , including flyers, press releases , posters, brochures, public service announcements , interviews and newspaper articles. No signs may be posted, exhibited or displayed on or about City property, except signage required by law or this Contract, without prior written approval from the City. 11. INDEMNIFICATION 11.1 To the fullest extent allowed by law, and except for losses caused by the sole and active negligence or willful misconduct of City personnel, Contractor shall indemnify, defend and hold Project Park Dedication Fee Study Professional/Consulting Contracts /Version: Nov 16, 2017 Page 3 of8 harmless City, its City Council, boards and commissions , officers, officials, employees, agents , servants, volunteers and consultants ("Indemnitees"), through legal counsel acceptable to City, from and against any and all liability , damages , claims, actions , causes of action, demands , charges , losses , costs and expenses (including attorne y fees , legal costs and expenses related to litigation and dispute resolution proceedings) of every nature , arising directly or indirectly from this Agreement or in any manner relating to any of the following: (a) Breach of contract, obligations, representations or warranties ; (b) Negligent or willful acts or omissions committed during performance of the Services ; ( c) Personal injury, property damage , or economic loss resulting from the work or performance of Contractor or its subcontractors or sub-subcontractors; (d) Unauthorized use or disclosure of City 's confidential and proprietary Information ; (e) Claim of infringement or violation of a U .S . patent or copyright, trade secret, trademark, or service mark or other proprietary or intellectual property rights of any third party. 11.2 Contractor must pay the costs City incurs in enforcing this provision. Contractor must accept a tender of defense upon receiving notice from City of a third-party claim, in accordance with California Public Contract Code Section 9201 . At City 's request, Contractor will assist City in the defense of a claim, dispute or lawsuit arising out of this Agreement. 11.3 Contractor 's duties under this section are not limited to the Contract Price, workers ' compensation payments, or the insuranc e or bond amounts requir ed in the Agreement. Nothing in the Agreement shall be construed to gi ve ris e to an implied right of indemnity in fav or of Contractor against City or any Indemnitee . 11.4. Contractor 's payments may be deducted or offset to cover any mone y the City lost due to a claim or counterclaim arising out of this Agreement, a purchase order, or other transaction. 12. INSURANCE Contractor shall comply with the Insurance Requirements, attached and incorporated here as Exhibit D, and must maintain the insurance for the duration of the Agreement, or longer as required by City. City will not execute the Agreement until City approves receipt of satisfactory certificates of insurance and endorsements evidencing the type , amount, class of operations covered, and the effective and expiration dates of cov erage . Failure to comply with this provision may result in City, at its sole discretion and without notice , purchasing insurance for Contractor and deducting the costs from Contractor 's compensation or terminating the Agreement. 13. COMPLIANCE WITH LAWS 13.1 General Laws. Contractor shall comply with all local , state and federal laws and regulations applicable to this Agreement. Contractor will promptly notify City of changes in the law or other conditions that may affect the Project or Contractor's ability to perform. Contractor is responsible for verifying the employment authorization of employ ees performing the Services , as required by th e Immigration Reform and Control Act. Proj ect Park Ded ication Fee Study Profess ional/Consulting Contrac ts /Version : Nov 16, 20 17 Page 4 of8 13.2 Labor Laws. Contractor shall comply with all labor laws applicable to this Agreement. If the Scope of Services includes a "public works" component, Contractor is required to comply with prevailing wage laws under Labor Code Section 1 720 and other labor laws. 13.3 Discrimination Laws. Contractor shall not discriminate on the basis of race, religious creed, color, ancestry, national origin, ethnicity, handicap, disability, marital status , pregnancy, age, sex, gender , sexual orientation, gender identity, Acquired-Immune Deficiency Syndrome (AIDS) or any other protected classification. Contractor shall comply with all anti-discrimination laws , including Government Code Sections 12900 and 11135, and Labor Code Sections 1735 , 1777 and 3077.5 . Consistent with City policy prohibiting harassment and discrimination , Contractor understands that harassment and discrimination directed toward a job applicant , an employee, a City employee, or any other person, by Contractor or its employees or sub-contractors will not be tolerated. 13.4 Conflicts of Interest. Contractor shall comply with all conflict of interest laws applicable to this Agreement and must avoid any conflict of interest. Contractor warrants that no public official , employee, or member of a City board or commission who might have been involved in the making of this Agreement , has or will receive a direct or indirect financial interest in this Agreement, in violation of California Government Code Section 1090 et seq . Contractor may be required to file a conflict of interest form if Contractor makes certain governmental decisions or serves in a staff capacity, as defined in Section 18700 of the California Code of Regulations . Contractor agrees to abide by the City 's rules governing gifts to public officials and employees . 13.5 Remedies. Any violation of Section 13 constitutes a material breach and may result in City suspending payments, requiring reimbursements or terminating this Agreement. City reserves all other rights and remedies available under the law and this Agreement , including the right to seek indemnification under Section 11 of this Agreement. 14. PROJECT COORDINATION City Project Manager. The City assigns Chad Mosley as the City's representative for all purposes under this Agreement , with authority to oversee the progress and performance of the Scope of Services. City reserves the right to substitute another Project manager at any time , and without prior notice to Contractor. Contractor Project Manager. Subject to City approval , Contractor assigns Wayne Prescott ______ as its single Representative for all purposes under this Agreement, with authority to oversee the progress and performance of the Scope of Services. Contractor's Project manager is responsible for coordinating and scheduling the Services in accordance with the Scope of Services and the Schedule of Performance. Contractor must regularly update the City 's Project Manager about the progress with the work or any delays , as required under the Scope of Services. City written approval is required prior to substituting a new Representative. 15. ABANDONMENT OF PROJECT City may abandon or postpone the Project or parts therefor at any time . Contractor will be compensated for satisfactory Services performed through the date of abandonment, and will be Project Park Dedication Fee Study Profess ional/Co nsulting Contracts /Ve rs ion: Nov 16, 20 17 Page 5 of8 given reasonable time to assemble the work and close out the Services. With City 's pre-approval in writing , the time spent in closing out the Services will be compensated up to a maximum of ten percent (10%) of the total time expended to date in the performance of the Services. 16. TERMINATION City may terminate this Agreement for cause or without cause at any time . Contractor will be paid for satisfactory Services rendered through the date of termination, but final payment will not be . made until Contractor closes out the Services and delivers the Work Product. 17. GOVERNING LAW, VENUE AND DISPUTE RESOLUTION This Agreement is governed by the laws of the State of California. Any lawsuits filed related to this Agreement must be filed with the Superior Court for the County of Santa Clara, State of California. Contractor must comply with the claims filing requirements under the Government Code prior to filing a civil action in court. If a dispute arises, Contractor must continue to provide the Services pending resolution of the dispute. If the Parties elect arbitration , the arbitrator 's award must be supported by law and substantial evidence and include detailed written findings of law and fact. 18. ATTORNEY FEES If City initiates legal action , files a complaint or cross-complaint, or pursues arbitration, appeal , or other proceedings to enforce its rights or a judgment in connection with this Agreement, the prevailing party will be entitled to reasonable attorney fees and costs. 19. THIRD PARTY BENEFICIARIES There are no intended third party beneficiaries of this Agreement. 20. WAIVER Neither acceptance of the Services nor payment thereof shall constitute a waiver of any contract provision. City's waiver of a breach shall not constitute waiver of another provision or breach. 21. ENTIRE AGREEMENT This Agreement represents the full and complete understanding of every kind or nature between the Parties, and supersedes any other agreement(s) and understanding(s), either oral or written, between the Parties . Any modification of this Agreement will be effective only if in writing and signed by each Party 's authorized representative . No verbal agreement or implied covenant will be valid to amend or abridge this Agreement. If there is any inconsistency between the main Agreement and the attachments or exhibits thereto , the text of the main Agreement shall prevail. Proj ect Park Ded ication Fee Study Profess ion al/Cons ulting Contracts /Version : Nov 16, 20 17 Page 6 of 8 22. INSERTED PROVISIONS Each provision and cl a use required by law for this Agreement is deemed to be included and will be inferred herein. Either party may request an amendment to cure mistaken insertions or omissions of required provisions. The Parties will collaborate to implement this Section, as appropriate . 23. HEADINGS The headings in this Agreement are for convenience only , are not a part of the Agreement and in no way affect , limit or amplify the terms or provisions of this Agreement. 24 . SEVERABILITY IP ARTIAL INVALIDITY If any term or provision of this Agreement, or their application to a particular situation, is found by the court to be void , invalid, illegal or unenforceable , such term or provision shall remain in force and effect to the extent allowed by such ruling. All other terms and provisions of this Agreement or their application to specific situations shall remain in full force and effect. The Parties agree to work in good faith to amend this Agreement to carry out its intent. 25. SURVIVAL A ll provisions which by their nature must continue after the Agreement expires or is terminated , including the Indemnification, Ownership of Materials/Work Product, Records , Governing Law and Attorney Fees, shall survive the Agreement and remain in full force and effect. 26. NOTICES All notices , requests and approvals must be sent in writing to the persons below, which will be considered effective on the date of personal delivery or the date confirmed by a reputable overnight delivery service, on the fifth calendar day after deposit in the United States Mail , postage prepaid, registered or certified, or the next business day following electronic submission: To City of Cupertino 10 3 00 To n-e Ave ., Cup ertino CA 95 0 J 4 Attention: Cha d Mos ley Email: ch adm @cup e To Contractor : Carn egh i-Naka sako & Asso c iates 16 02 Th e A lame d a, S ui te 10 3 San Jo se, CA 95 126 Attention: Wayn e Prescott Email : w prescott@valu ation con s ultant.net 27. VALIDITY OF CONTRACT This Agreement is valid and enforceable only if (a) it complies with the purchasing and contract provisions of Cup ertino Municipal Code Chapters 3 .22 and 3.23 , as amended from time to tim e, (b) is signed by the City Manager or an authorized designe e , and ( c) is approve d fo r fo1m by the City Attorney 's Office . Project Park Dedication Fee Study Professional/Consu lt ing Contracls /Vers ion: Nov 16, 20 17 Page 7 of8 28. EXECUTION The person ex ecuting this Agreement on behalf of Contractor represents and warrants that Contractor has full right, power, and authority to enter into and carry out all actions contemplated by this Agreement and that he or she is authorized to execute thi s Agreement, which constitutes a legally binding obligation of Contractor. This Agreement may be executed in counterparts, each one of which is deemed an original and all of which, taken together, constitute a single binding instrument. IN WITNESS WHEREOF, the parties hav e caused the Agreement to be ex ecuted. CONTRACTOR Carn eghi -Nakasa ko & Ass ociates a California Corporation By8~~- Name Brad ley Carneghi Title P rinci pal Date 02/28/20 18 Tax I.D. No .: 81-1829259 ------- APPROVED AS TO FORM: CITY OF CUPERTINO Name C had Mosley Title City Eng in eer D ate 3/1 /20 18 1,v-0 ~<):UP--/bi~~/7 PH STEVENSON HO / j/ Cupertino City Attorney ' ATTEST: ~ :-1! , ~Gd ~4J± GRACE SCHMIDT 7 . -( ~ City Clerk ) .-l J.-() · Project Park Dedication Fee Study Page 8 of8 Account # 100-82-804 700-70 2 PO # ~ %-Lf:'°:t Total Compen sat ion : $15,000 Professional/Consulting Co ntracts /Ve rsion: Nov 16, 2017 EXHIBIT "A" The requirements for Basic Services are set forth in this Exhibit A, including general requirements and specific Tasks. This is an exhibit attached to, and made a part of, the Agreement between the City of Cupertino City") and Cameghi-Nakasako & Associates ("Consultant") for the provision of a Park Dedication Fee Study services ("Services"). CONSULTANT shall perform consultant services as detailed in the following sections related to the design, bidding and construction for a Public Works Project. (Hereafter referred to as "Project") SECTION 1. GENERAL A. General PROJECT Description: The PROJECT involves the preparation of a report that summarizes the residential land selling prices for the City of Cupertino. The Consultant will provide each and every service as indicated in the scope of services set forth in Exhibit "A-1". B. General Performance Requirements: 1. The performance of all services by CONSULTANT shall be to the satisfaction of the CITY, in accordance with the express terms hereof, including but not limited to the terms set out in detail in this scope of services and the standard of care provisions contained in this AGREEMENT. 2. The CITY's Department of Public Works shall manage the PROJECT and this AGREEMENT. CONSULTANT shall receive final direction from the CITY's City Engineer or his/her authorized designee (hereinafter collectively "CITY") only. The CITY shall resolve any conflicting direction from other groups, departments or agencies. 3. CONSUL TANT shall coordinate this scope of services with the CITY as well as with other CITY Consultants and Consultants, as needed or as directed by the CITY. CONSULTANT shall schedule meetings and prepare meeting agendas and minutes, as applicable, for all PROJECT meetings under the scope of work. All minutes of meetings are due to the CITY within five (5) working days after the meeting. CONSULTANT shall provide copies of such documentation to the CITY, and as directed by the CITY, to other appropriate agencies and entities. CONSULTANT shall coordinate all responses to comments through the CITY. 4. CONSULTANT shall designate and provide to the CITY the names of their team members for the PROJECT. The team members shall be satisfactory to the CITY. Cameghi-Nakasako & Associates Park Dedication Fee Study I of6 Exhibit A, B & C CONSUL TANT shall not substitute any team members without the prior approval of the CITY. 5. CONSULTANT's services shall be performed as expeditiously as is consistent with professional skill and care and the orderly process of the work. The schedule for the performance included in EXHIBIT B, may be adjusted by mutual agreement. 6. CONSULTANT shall manage its SUBCONSULTANTS, and administer the PROJECT. CONSULTANT shall consult with the CITY, research applicable design criteria, and communicate with members of the PROJECT team. 7. When the CITY determines that the PROJECT requirements have been sufficiently identified, CONSUL TANT shall prepare and update a PROJECT schedule for the CITY at the beginning of each TASK as defined in SECTION 2 - "TASK" of this EXHIBIT A . The PROJECT schedule shall identify milestone dates for decisions required of the CITY, design services furnished by CONSULTANT and CONSULTANT' s SUBCONSUL TANTS, dates of reviews and approvals required by all governmental agencies that have jurisdiction over the PROJECT, deliverables to be furnished by CONSULTANT, completion of documentation provided by CONSULTANT, commencement of construction and substantial completion of the construction of the PROJECT, and as identified in the exhibits under this AGREEMENT. 8. CONSULTANT shall submit documents to the CITY, according to SECTION 2- "TASKS", of this EXHIBIT A for purposes of evaluation and approval by the CITY. The CITY including the Department of Public Works Engineering and other City departments as necessary will review the documents during each phase. CONSULTANT will meet with the CITY for progress review at various stages of the PROJECT. CONSULTANT will be responsible for causing the appropriate SUBCONSUL TANT(S) to attend any meetings included in this SCOPE OF SERVICES. CONSULTANT shall make revisions to the construction documents as required for each task in a timely manner. 9. CONSULTANT shall assist the CITY, as requested by the CITY, in connection with the CITY' s responsibility for filing documents required for the approval of governmental authorities having jurisdiction over the PROJECT, including submitting to the CITY' s Building Department for a building permit if required. 10. CONSULT ANT shall prepare and present to the CITY an Organization Chart, Directory, and Communication Flow Chart at the PROJECT Kick-Off Meeting. This meeting shall introduce team members, establish routes of communication, and discuss the participants' roles, responsibilities, and authority. Carneghi-Nakasako & Associates Park Dedication Fee Sh1dy 2 of6 Exhibit A, B & C SECTION 2. TASKS For each assigned Project, CONSULTANT may provide any or all of the following tasks and subtasks, as is required for the specific Project: Task 1.0 CONSULTANT shall prepare an initial draft report of the study and Consultant's findings. The initial draft report should be as complete as possible, with all pertinent data, spreadsheets and exhibits. The initial draft report will be prepared for the City's review and comment. The City will review the report in a timely manner and provide a list of comments and questions to the Consultant. Task 2.0 CONSULTANT shall prepare the final report, which incorporates and clarifies the City's comments and questions. The final report will be the completed document, with all completed data, spreadsheets and exhibits as indicated in the scope of services set forth in Exhibit A-1. The City will review the final report for completeness. In the event the City has further comments or questions on the final report, the Consultant will work with the City to address these outstanding issues in order to finalize the document. ADDITIONAL SERVICES Consultant Services beyond the work in these tasks may be provided by CONSULTANT as Additional Services only if such Additional Services are authorized in writing by the CITY in advance. An Additional Services amount of THREE THOUSAND DOLLARS ($3,000.00) is made a part of this agreement. Additional services may be paid for as a negotiated maximum not to exceed amount or by a time and materials cost accounting with a maximum not to exceed. Carneghi-Nakasako & Associates Park Dedication Fee Study 3 of6 Exhibit A, B & C !l::XH I t::SI I A -1 j CARNEGH 1-NAKASAKO + ASSOCIATES February 1, 2018 Chad Mosley, PE I City Engineer City of Cupertinn I Public Works Department 10300 Torre Ave I Cupertino, CA 95014 Office: 408.777.760-l I Fax: -!08.777.3333 chadm@cupertino.org RE: Residential In-Lieu Fee Data Dear Mr. Mosley: Carneghi-Nakasako & Associates Commercial Real Estate Appraisal This letter is a proposal for Carneghi -Nakasako & Associates to provide you with valuation consulting services . The fair market value of residential land in Cupertino will be the subject of this consultation. You need to know what the unit value ($/SF) cost is for the typical residential lot, or residential subdivision/multi-family site, in various neighborhoods in Cupertino. I understand that my work product will be used by you and the City as one tool to establish in lieu fees for residential land in Cupertino. I am pleased to advise that we could deliver a summary of residential land selling price data for Cupertino land that will report the prices paid on a spreadsheet that will delineate: • price paid • street address • lot size (acres) • lot size (square feet) • price paid per unit {SF or acres as appropriate) • market conditions or "time" adjustment factor • adjustment to the appropriate entitlement status and level of improvement • whether improvements were demolished and/or reconstructed • adjustment for demolition costs if warranted • indicated value for the land sale 1602 The Alameda, Sui te 103 I San J ose, CA 95126 I T 4 08 -535 -0900 I F 408 -535-0909 We will discover the sales data using these resources: • MLSListings.com • Real quest Summary of the Public Record • Costar.com Commercial Sales Database • Loop net.com database of property for sale • Trulia.com • Zillow.com • City of Cupertino property records Most of the data for the higher-density categories will come from Costar and Loopnet, which are commercial subscription services that we utilize when we need data on the sale of development sites . Please send any City Property Records that you believe will be useful. The data base within each resource will be searched using these parameters : • Located in Cupertino • Date of Sale -January 1, 2015 to Present • Land or Lots • Key Words -Bare Land , Finished Lot, Teardown, Fixer-Upper For consistency, we should adjust each sale to a similar level of entitlement and/or physical status . "Finished lot" status will be the appropriate level for the lower densities. For the higher density product, the tentative map stage will be approp r iate, since that is the point of entitlement that typically sets the price for such transactions. The data will be displayed on a spreadsheet, arranged within the residential Land Use categories based on density, discussed i n Envision Cupertino 2015-2040: • HD 35 Units per acre • MHD 20-35 Units per acre • MD 10-20 Un its per acre • LM 5-10 Units per acre • Low 1-6 Units per acre • VLD Slope-Density formula • VLD 1-2 Acres/Lot; 0.5 -1.0 Units per acre • VLD 5-10 Acres/Lot; 0.05-0.10 Units per acre CARNEGHI -NAKASAKO +ASSOCIATES www.c naappraisal.com A further breakdown by Neighborhood identified in Envision Cupertino can also be applied : Oak Valley, Inspiration Heights, Rancho Rinconada , etc. School district will also be identified. For those land use categories with limited sales data at either end of the density range (both the higher density classes and low density/formula classes), I propose that we expand the search to neighboring cities if necessary to provide enough data points to be meaningful. The theory that applies here is that a developer with the financial capability to develop a high-dens ity unit project will not restrict his search for suitable sites to one municipality; and that a home purchaser seeking the kind of semi-rural view lot in the slope/density class may not restrict his search to Cupertino, with due consideration for the quality of the school district . The narrative report will describe the various sections and discussion points in the Envision statement and Park Dedication Fee statute that will enable the reader to understand why the data was prepared and presented in this way. Although this will not be an "Appraisal Report" since we are not appraising a property, it will be prepared and written to conform with the Uniform Standards of Professional Appraisal Practice (USPAP) and the Code of Ethics and Standards of Professional Practice of the Appraisal Institute. I believe our study presented in this manner will enable you to customize the way you apply the data. I propose to prepare this report at a price capped at a minimum of $6,500 and a maximum of $12,500, at an hourly rate of $275, to be delivered about 8 weeks after engagement. That will result in delivery in late April/early May. The exact cost will be largely a function of how much data we discover. The more data available to evaluate, the more precise the results will be. Very Truly Yours, Wayne F. Prescott, MAI, CCIM State Certified Real Estate Appraiser, Certificate No. AG001533 CARNEGHI -NAKASAKO +ASSOCIATES www.cnaappraisal.com EXHIBITB SCHEDULE OF PERFORMANCE CONSULTANT shall complete all work by May 15, 2018. This Schedule of Performance establishes the milestones for commencement and completion of the Tasks for Basic Services as specified in Exhibit A, Scope of Services. TASK# Task #1: Task#2 Carneghi-Nakasako & Associates Park Dedication Fee Study TASK DESCRIPTION Draft Report Final Report 4 of6 DURATION 6 weeks after Notice to Proceed (NTP) for this Task 9 weeks after Notice to Proceed (NTP) for this Task E xhibit A, B & C EXHIBIT C COMPENSATION Capitalized terms which are defined in the Agreement have the same meaning in this Exhibit C. This Exhibit C on Compensation supplements the provisions of Section 4 of the Agreement on Compensation, as further specified in Section 4. 1. BASIC SERVICES BUDGET SCHEDULE The following budget schedule will be used to determine monthly compensation for Basic Services based on the degree of completion, subject to confirmation and agreement by the City, and budget for each listed Task: TASK# TASK DESCRIPTION TASK BUDGET 1 Draft Report $7,000 2 Final $5,500 Total for Basic Services:$ ____ 12~50~0~----- Design Professional may not bill in excess of the Task Budget amount for any Task without prior written authorization from the City. The City has the discretion, but not the obligation, to reallocate the budgeted amounts for each Task, subject to the not to exceed limit specified in Section 4. 2. HOURLY COMPENSATION FOR ADDITIONAL SERVICES A. Hourly Rate Schedule. The City will compensate the Design Professional for satisfactory performance of duly authorized Additional Services which are subject to hourly billing, based on the hourly rate(s) set forth below, but subject to the compensation limits in Section 4 of the Agreement. The hourly rates are deemed to include all costs including, salary, wages, benefits, taxes, insurance, and the like paid to or on behalf of each individual providing the Services, and are also deemed to include profit, overhead, vehicle, equipment and supply costs and the like. The hourly rates do not include Reimbursable Expenses, which are addressed below and in Section 4 of the Agreement. These hourly rates will remain in effect for the Term of the Agreement unless changed by written amendment to the Agreement. Carneghi-Nakasako & Associates Park Dedication Fee Study 5 of6 Exhibit A, B & C Consultant Hourly Rates: Project Manager $ 275.00 C. Reimbursable Expenses. The following are allowed Reimbursable Expenses for authorized Additional Services compensated on an hourly basis (time and expenses), subject to the compensation limits in Section 4 of the Agreement: • Necessary subconsultant services • Individual or multiple document reproductions that exceed 50 pages • Special software required by City specifically for the Project, excluding standard software programs such as Microsoft Office suite applications (i.e. Word, Excel, PowerPoint, Project, etc.), Adobe Acrobat, or standard photo editing programs Carneghi-Nakasako & Associates Park Dedication Fee Study 6 of6 Exhibit A, B & C EXHIBITD Insurance Requirements Design Professionals & Consultants Contracts Consultant shall procure prior to commencement of Services and maintain for the duration of the contract, at its own cost and expense , the following insurance policies and coverage with companies doing business in California and acceptable to City. INSURANCE POLICIES AND MINIMUMS REQUIRED I. Commercial General Liability (CGL) for bodily injury, property damage, personal injury liability for premises operations , products and completed operations, contractual liability, and personal and advertising injury with limits no less than $2,000,000 per occurrence (ISO Form CG 00 01). If a general aggregate limit applies , either the general aggregate limit shall apply separately to this project/location (ISO Form CG 25 03 or 25 04) or it shall be twice the required occurrence limit. a. It shall be a requirement that any available insurance proceeds broader than or in excess of the specified minimum insurance coverage requirements and/or limits shall be made available to the Additional Insured and shall be (i) the minimum coverage/limits specified in this agreement; or (ii) the broader coverage and maximum 'limits of coverage of any insurance policy, whichever is greater. b . Additional Insured coverage under Consultant's policy shall be "primary and non-contributory," will not seek contribution from City's insurance/self-insurance, and shall be at least as broad as ISO Form CG 20 01 (04/13). c. The limits of insurance required may be satisfied by a combination of primary and umbrella or excess insurance, provided each policy complies with the requirements set forth in this Contract. Any umbrella or excess insurance shall contain or be endorsed to contain a provision that such coverage shall also apply on a primary and non-contributory basis for the benefit of City before the City's own insurance or self-insurance shall be called upon to protect City as a named insured . 2. Automobile Liability: ISO CA 00 01 covering any auto (including owned, hired , and non-owned autos) with limits no less than $1,000,000 per accident for bodily injury and property damage. 3. Workers' Compensation: As required by the State of California , with Statutory Limits and Employer's Liability Insurance of no less than $1,000,000 per occurrence for bodily injury or disease. D Not required. Con s ultant has provided written verification of no employees. 4. Professional Liability for professional acts , errors and omissions , as appropriate to Consultant 's profession, with limits no less than $2,000,000 per occurrence or $2,000,000 aggregate . If written on a claims made form: a. The Retroactive Date must be shown and must be before the Effective Date of the Contract. b . Insurance must be maintained for at least five (5) years after completion of the Services . c. If coverage is canceled or non-renewed , and not replaced with another claims-made policy form with a Retroactive Date prior to the Contract Effective Date , the Consultant must purchase "extended reporting" coverage for a minimum of five (5) years after completion of the Services. OTHER INSURANCE PROVISIONS The aforementioned insurance shall be endorsed and hav e all the followin g c onditions and provisions: Exh. D -lnsurance R equirem en ts for D esign Profess ionals & Co ns ulta nts Con tracts Form Upda ted Feb. 2018 1 Additional Insured Status The City of Cupertino, its City Council, officers, officials, employees, agents , servants and volunteers ("Additional Insureds") are to be covered as additional insureds on Consultant's CGL policy. General Liability coverage can be provided in the form of an endorsement to Consultant's insurance (at least as broad as ISO Form CG 20 IO (11/ 85) or both CG 20 IO and CG 20 37 forms , if later editions are used). Primary Coverage Coverage afforded to City/ Additional Insureds shall be primary insurance . Any insurance or self-insurance maintained by City, its officers, officials, employees , or volunteers shall be excess of Consultant's insurance and shall not contribute to it. Notice of Cancellation Each insurance policy shall state that coverage shall not be canceled or allowed to expire, except with written notice to City 30 days in advance or IO days in advance if due to non-payment of premiums. Waiver of Subrogation Consultant waives any right to subrogation against City/Additional Insureds for recovery of damages to the extent said losses are covered by the insurance policies required herein. Specifically, the Workers' Compensation policy shall be endorsed with a waiver of subrogation in favor of City for all work performed by Consultant, its employees, agents and subconsultants. This provision applies regardless of whether or not the City has received a waiver of subrogation endorsement from the insurer. Deductibles and Self-Insured Retentions Any deductible or self-insured retention must be declared to and approved by the City. At City's option, either: the insurer must reduce or eliminate the deductible or self-insured retentions as respects the City/ Additional Insureds; or Consultant must show proof of ability to pay losses and costs related investigations, claim administration and defense expenses. The policy shall provide , or be endorsed to provide, that the self-insured retention may be satisfied by either the insured or the City. Acceptability of Insurers Insurers must be licensed to do business in California with an A.M. Best Rating of A-VII, orbetter. Verification of Coverage Consultant must furnish acceptable insurance certificates and mandatory endorsements ( or copies of the policies effecting the coverage required by this Contract), and a copy of the Declarations and Endorsement Page of the CGL policy listing all policy endorsements prior to commencement of the Contract. City retains the right to demand verification of compliance at any time duringthe Contract term . Subconsultants Consultant shall require and verify that all subconsultants maintain insurance that meet the requirements of this Contract, including naming the City as an additional insured on subconsultant's insurance policies . Higher Insurance Limits If Consultant maintains broader coverage and/or higher limits than the minimums shown above, City shall be entitled to coverage for the higher insurance limits maintained by Consultant. Adequacy of Coverage City reserves the right to modify these insurance requirements/coverage based on the nature of the risk, prior experience, insurer or other special circumstances , with not less than ninety (90) days prior written notice. Exh. D-Jn s urance R equirements for D esign Professionals & Consultants Contracts Form Updated Feb. 2018. 2 ACORD® CERTIFICATE OF LIABILITY INSURANCE I DA TE (MM /DD/YYYY ) ~ 01 /3 1 /201 8 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND , EXTEND OR ALTER THE COVERAGE AF FORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSU ING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED , the policy(ies) must have ADDITIONAL INSURED provisions or be endorsed. If SUBROGATION IS WAIVED , subject to the terms and conditions of the pol icy, certain policies may requ i re a n e ndorsement. A statement on th is certificate does not confer ri ghts to the certificate holder i n lieu of such endorsement(s). PRO DUC ER CONTAC T Kri s t ie Turn e r NAM E: Kristie Turner r:,gNJo Extl 92 5-292-8024 I Ft,~ No l:925-292-80 71 1 576 2 n d Str e e t Su it e F E-MAIL ADD RESS: Liverm o r e , CA 945 50 INSU RE R(S) AF FORDIN G COVERA GE NAIC # 1NsuRERA :Me r cury I n su rance com p any INS URE D INSUR ER B : R ick N akasak o a n d Bra d C arn eg hi INS URER C: DBA: C arn e ghi -Naka s ako a nd Asso ci a t es INS URER D: 1602 The A l a meda , Ste 1 03 , Sa n Jose , Ca 95126 INS URE R E : INSURE R F : COVERAGES CERTIFICATE NUMBER: REVISION NUMBER : THIS IS TO CERTIFY THA T THE POLI CIES OF INSUR ANC E LIST ED BELO W HAV E BEEN ISSUED TO THE INSURED NAMED ABO VE FOR THE POLIC Y PER IOD IND ICATED . NOTW ITHS TAND ING AN Y REQUIR EMENT , TERM OR COND ITION OF ANY CONTRAC T OR OTHER DO CUMENT WITH RESPECT TO WHIC H THIS CERTIFIC ATE MAY BE ISSUED OR MAY PERT AIN , THE INSURANC E AFFORDED BY THE PO LI CIE S DESCRIB ED HERE IN IS SUBJ ECT TO ALL THE TERMS , EXC LUSIONS AND CONDI TION S OF SUCH PO LI CIES . LI MITS SHO WN MAY HAV E BEEN REDUCED BY PAID CLAIMS. INSR ADD L SU BR POLIC Y EFF POLICY EXP LTR TYP E OF INSU RANC E ,.,en VVHn POL ICY NUMBER IMM/DD /YYYYl IMM/DD /YYYYl LI MITS A X COMM ERCI AL GE NERAL LI AB ILITY CCP005 2870 04/20/17 04/20/18 EACH OCC URR ENC E $1 ,000 ,000 t---D CLAIMS -MA DE [xJ OCCUR DAMAG E TO REN TED t---PR EMISES /Ea occ urrence\ $100,0 0 0 t--- MED EX P (Any one person) $5 ,000 PERSO NAL & ADV INJURY $1 ,0 00 ,0 00 - GEN 'L AGGR EGATE LIMIT AP PLIE S PE R: GE NE RAL AGGREGATE $2,0 00 ,000 ~ D PRO-D Lo c PRO DU CTS -COMP/OP AGG $1 ,000 ,000 POLI CY JECT OTHER: $ AUTOMOB ILE LI ABILI TY CCP0 0528 7 0 04/20/17 04/20/18 COMB INED SINGLE LI MIT $ A (Ea accident) -ANY AUTO BODILY INJU RY (Per person) $1 ,0 0 0 ,0 0 0 -OWN ED -SC HEDULED AUTOS ONLY AUTOS BODILY INJ URY (Per acc ident) $2 ,000 ,000 L HIR ED X NON-OWN ED PROP ERTY DAMAG E $ AUTOS ONLY AUTOS ON LY /Per accident) I $ UMBRELLA LIA B H OCC UR EACH OCC URR EN CE $ -EXCESS LIAB CLAIM S-MADE AGG RE GATE $ OED I I RETENTION $ $ WORKER S COMPEN SA TI ON I PER I I OTH- AND EMPL OY ERS ' LI ABILI TY STATUTE ER Y /N ANY PROP RI ETO R/PA RTNE R/EXECUT IVE D N /A E.L . EAC H ACC IDEN T $ OFFI CER/MEMB ER EXC LUDED? (Mandatory in NH) E.L. DI SEAS E -EA EMP LOYEE $ ~m:~ftff~~ o t o PE RA TION S below E.L. DI SEAS E -POLI CY LIMIT $ A Busines s P e rson a l Property CCP00 5270 0 4/20/1 7 04/20 /28 2 5 ,000 $1 ,000 D ed. DESCRI PTION OF OPERA TI ONS / LOCA TI ONS / VEHI CLE S (ACOR D 101 , Additiona l Rem ark s Schedu le, may be attach ed if mo re spac e is requi red) T his is a BP fo r m . Th i s is an office exposu r e CERTIFICATE HOLDER C ity of Cuperti n o 10300 Torre A ve C upertino , C a 9501 4 Bl a n ket A dd itiona l in surred ap p li e s . CANCELLATION SHOULD ANY OF THE ABOVE DESCRIBED POLI CIES BE CAN CELLED BEFO RE TH E EXPI RATION DATE THERE OF, NOTICE WILL BE DELI VE RE D IN ACCOR DAN CE WITH THE PO LICY PROVISI ONS . AUTHORIZE D REPR E§_OOATIV E /7v~/-.t---K LT © 1988-2 015 ACO R D CORPORATION. All rights re served. ACORD 25 (2016/0 3) T h e ACORD n a me and logo a re r egis t e re d m a r k s o f ACORD Printed by KLT on Fe bruary 28 , 201 8 at 12:32 PM POLICY NUMBER: BUSINESSOWNERS BP 0448 0713 THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. ADDITIONAL INSURED-DESIGNATED PERSON OR ORGANIZATION This endorsement modifies insurance provided under the following: BUSINESSOWNERS COVERAGE FORM SCHEDULE Name Of Additional Insured Person(s) Or Oraanlzation{s): CITY OF CUPERTINO 10300 Torre Ave, Cupertino, California 95014 lnfom,ation reauired to complete this Schedule, if not shown above will be shown in the Declarations. Section II -Liability is amended as follows: A. The following is added to Paragraph C. Who Is An Insured: 3. Any person(s) or organization(s) shown in the Schedule is also an additional insured, but only with respect to liability for "bodily injury", "property damage" or "personal and advertising injury" caused, in whole or in part, by your acts or omissions or the acts or omissions of those acting on your behalf in the perfom,ance of your ongoing operations or in connection with your premises owned by or rented to you. However: a. The insurance afforded to such additional insured only applies to the extent permitted by law; and b. If coverage provided to the additional insured is required by a contract or agreement, the insurance afforded to such additional insured will not be broader than that which you are required by the contract or agreement to provide for such additional insured . B. With respect to the insurance afforded to these additional insureds, the following is added to Paragraph D. Liability And Medical Expenses Limits Of Insurance: If coverage provided to the additional insured is required by a contract or agreement, the most we will pay on behalf of the additional insured is the amount of insurance: 1. Required by the contract or agreement; or 2. Available under the applicable Limits Of Insurance shown in the Declarations; whichever is less . This endorsement shall not increase the applicable Limits Of Insurance shown in the Declarations. BP 04 48 0713 © Insurance Services Office, Inc., 2012 Page 1 of 1 ACORD® CERTIFICATE OF LIABILITY INSURANCE I DATE (MM/DDIYYYY) ~ 02 /28/2018 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). PRODUCER CONTACT Sunny Chopra NAME: Sunny Chopra , f.~~NJ~ Extl: (510) 797-2797 I rffc Noil510) 797-2799 E-MAIL sunny.chopra@american-national.com 38750 Paseo Padre Pkwy , Ste B-4, ADDRESS : Fremont, CA 94536 INSURER(Sl AFFORDING COVERAGE NAIC# INSURER A : SCIF INSURED IN SURER B: Carneghi-Nakasako & Associates , INSURER C : 1602 The Alameda, Ste 103, INSURER D: San Jose, CA 95126 INSURER E : INSURER F : COVERAGES CERTIFICATE NUMBER: REVISION NUMBER: THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HA V E BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDI CATED . NOTWITHSTA NDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT O R OTHER DOCUMENT W ITH RESPE CT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN , THE INSURANCE AFFORDED BY THE POLICIES DES CRI BED HEREIN IS SUBJECT TO ALL THE TERMS , EXCLUSIONS AND CON DITIONS OF SU CH POLICIES . LIM ITS SHOWN MAY HAV E BEEN REDUCED BY PAID CLAIMS . INSR ADDL SUBR ,&3/c\5~) ,&3}-Jg~l LTR TYPE OF INSURANCE INSR WVD POLICY NUMBER LIMITS GENERAL LIABILITY EACH OCCURREN CE $ -DAMAGE TO RENTED COMMERCIAL GENERAL LIABILITY PREMISES /Ea occurrence\ $ -_J CLAIMS-MADE D OCCUR MED EXP (Any one person) $ PERSONAL & A DV INJURY r--$ GENERAL AGGREGATE $ ~ GEN'L AGGR EGATE LIMIT APPLIES PE R: PRODUCTS • COMP/OP AGG $ n POLICY n m?,: n LOC $ AUTOMOBILE LIABILITY COMBINED S INGLE LIMIT /Ea accident\-$ - ANY AUTO BODILY INJURY (Per person) $ --ALL OWNED SCHEDULED AUTOS AUTOS BODILY INJURY (Per accident) $ --NON-OWNED PROPERTY DAMAGE HIRED AUTOS AUTOS /Per accident\ $ r--r-- $ UMBRELLA LIAB H OCCUR EACH OCCURRENCE $ r-- EXC ESS LIAB CLA IMS-MADE AGGREGATE $ - DED I I RETENTION$ $ WORKERS COMPENSATION 9159426-17 05/21 /2 018 I r\1/i~J T~J#;:; I IOJ~- AND EMPLOYERS' LIABILITY YIN 05/21/2 017 X ANY PROPR IETOR/PARTNE R/EXECU TI V E [iJ N/A E.L. EA CH ACCIDENT $1 ,000 ,000 OFFICER/MEMBER EXCLUDED? (Mandatory in NH) E.L. DISEASE· EA EMPLOYEE $1,000 ,000 If yes, describe under DESCRIPTI ON OF OPERATIONS below E.L. D ISEASE -POLICY LI M IT s 1,000 ,000 y -pro rs: e.. t) j'VL. ,'§;I 'c) t-1.J.: (tv!A--~) 1J 1 1 ooo 1 /JOO ;urdU/""'- Arr-,---..1 y\~. Co 112/ {JtJ{)I ,!)0 t) a.:J ~-e-s c.l< . I DESCRIPTION OF OPERATIONS/ LOCATIONS/ VEHICLES (Attach ACORD 101, Additio nal Rema rk s Sc hedule, if more space is required) The City of Cupertino , it's City Coun cil , Officers , Officials, employees, servants and volunteers and all public agen c ies from whom permits w ill be obtaiuned and their officers, officials, employees , agents , servants and volunteers are hereby declared to be additional insureds under th e terms of this policy . CERTIFICATE HOLDER CANCELLATION City of Cupertino , SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANC ELL ED BEFORE 10300 Torre Ave, THE EXPIRATION DATE THEREOF , NOTICE WILL BE DELIVERED IN Cupertino, CA 95014 ACCORDANCE WITH THE POLICY PROVISIONS. AUTHORIZED REPRESEN TATIVE s'°70&r4- I © 1988-2010 ACORD CORPORATION. All rights reserved. ACORD 25 (2010/05) The ACORD name and logo are registered marks of ACORD STATE ENDORSEMENT AGREEMENT ADDITIONAL INSURED EMPLOYER COMPENSATION INSURANCE FUND 9159426-17 RENEWAL HOME OFFICE SAN FRANCISCO ALL EFFECTIVE DATES ARE AT 12 :01 AM PACIFIC STANDARD TIME OR THE TIME INDICATED AT PACIFIC STANDARD TIME NA PAGE EFFECTIVE MARCH 1, 2018 AT 12.01 A.M. CARNEGHI-NAKASAKO & ASSOCIATES 1602 THE ALAMEDA STE 103 SAN JOSE, CA 95126 ANYTHING IN THIS POLICY TO THE CONTRARY NOTWITHSTANDING, IT IS AGREED THAT CITY OF CUPERTINO ~ f&_ µiJ-, 'ort~ -1-Afw-J S rcf-U£,r,..u-/ ,'.--__ ,$y_fvj1'-J-b f,(2];. .f-S"" HEREBY NAMED AS AA. ADDITIONAL INSURE !? EMPLOYER ON THIS POLICY BUT ONLY AS RESPECTS EMPLOYEES WHOSE NAMES APPEAR ON THE PAYROLL RECORDS OF CARNEGH I -NAKASAKO & ASSOCIATES (HEREIN CALLED THE PRIMARY INSURED) WHILE THOSE EMPLOYEES ARE ENGAGED IN WORK UNDER THE SIMULTANEOUS DIRECTION AND CONTROL OF THE PRIMARY INSURED AND THE ADDITIONAL INSURED EMPLOYER. IT IS FURTHER AGREED THAT THE PAYMENT OF THE FULL PREMIUM DUE AND PAYABLE UNDER THIS POLICY SHALL REMAIN THE SOLE RESPONSIBILITY OF THE PRIMARY INSURED. NOTHING IN THIS ENDORSEMENT CONTAINED SHALL BE HELD TO VARY, ALTER , WAIVE OR EXTEND ANY OF THE TERMS, CONDITIONS, AGREEMENTS, OR LIMITATIONS OF THIS POLICY OTHER THAN AS STATED, NOTHING ELSEWHERE IN THIS POLICY SHALL BE HELD TO VARY, ALTER, WAIVE OR LIMIT THE TERMS, CONDITIONS, AGREEMENTS OR LIMITATIONS OF THIS ENDORSEMENT, COUNTERSIGNED AND ISSUED AT SAN FRANCISCO: ~!e,q, MARCH 7, 2018 PR ESIDENT AN D CEO 1 OF 3 0015 STATE ENDORSEMENT AGREEMENT ADDITIONAL INSURED EMPLOYER COMPENSATION INSURANCE FUND 9159426-17 RENEWAL HOME OFFICE SAN FRANCISCO ALL EFFECTIVE DATES ARE AT 12:01 AM PACIFIC STANDARD TIME OR THE TIME INDICATED AT PACIFIC STANDARD TIME NA PAGE EFFECTIVE MARCH 1, 2018 AT 12.01 A.M. CARNEGHI-NAKASAKO & ASSOCIATES 1602 THE ALAMEDA STE 103 SAN JOSE, CA 95126 ANYTHING IN THIS POLICY TO THE CONTRARY NOTWITHSTANDING, IT IS AGREED THAT COUNTY OF SANTA CLARA IS HEREBY NAMED AS AN ADDITIONAL INSURED EMPLOYER ON THIS POLICY BUT ONLY AS RESPECTS EMPLOYEES WHOSE NAMES APPEAR ON THE PAYROLL RECORDS OF CARNEGHI-NAKASAK.O & ASSOCIATES (HEREIN CALLED THE PRIMARY INSURED) WHILE THOSE EMPLOYEES ARE ENGAGED IN WORK UNDER THE SIMULTANEOUS DIRECTION AND CONTROL OF THE PRIMARY INSURED AND THE ADDITIONAL INSURED EMPLOYER. IT rs FURTHER AGREED THAT THE PAYMENT OF THE FULL PREMIUM DUE AND PAYABLE UNDER THIS POLICY SHALL REMAIN THE SOLE RESPONSIBILITY OF THE PRIMARY INSURED. NOTHING IN THIS ENDORSEMENT CONTAINED SHALL BE HELD TO VARY, ALTER, WAIVE OR EXTEND ANY OF THE TERMS, CONDITIONS, AGREEMENTS, OR LIMITATIONS OF THIS POLICY OTHER THAN AS STATED. NOTHING ELSEWHERE IN THIS POLICY SHALL BE HELD TO VARY, ALTER, WAIVE OR LIMIT THE TERMS, CONDITIONS, AGREEMENTS OR LIMITATIONS OF THIS ENDORSEMENT. COUNTERSIGNED AND ISSUED AT SAN FRANCISCO: ~;{.'5{ MARCH 7, 2018 PRESIDENT AND CEO 2 OF 3 0015 STATE ENDORSEMENT AGREEMENT ADDITIONAL INSURED EMPLOYER COMPENSATION INSURANCE FUND 9159426-17 RENEWAL HOME OFFICE SAN FRANCISCO ALL EFFECTIVE DATES ARE AT 12:01 AM PACIFIC STANDARD TIME OR THE TIME INDICATED AT PACIFIC STANDARD TIME NA PAGE EFFECTIVE MARCH 1, 2018 AT 12.01 A.M. CARNEGHI-NAKASAKO & ASSOCIATES 1602 THE ALAMEDA STE 103 SAN JOSE, CA 95126 ANYTHING IN THIS POLICY TO THE CONTRARY NOTWITHSTANDING, IT IS AGREED THAT MSROD IS HEREBY NAMED AS AN ADDITIONAL INSURED EMPLOYER ON THIS POLICY BUT ONLY AS RESPECTS EMPLOYEES WHOSE NAMES APPEAR ON THE PAYROLL RECORDS OF CARNEGHI-NAKASAKO & ASSOCIATES (HEREIN CALLED THE PRIMARY INSURED) WHILE THOSE EMPLOYEES ARE ENGAGED IN WORK UNDER THE SIMULTANEOUS DIRECTION AND CONTROL OF THE PRIMARY INSURED AND THE ADDITIONAL INSURED EMPLOYER. IT IS FURTHER AGREED THAT THE PAYMENT OF THE FULL PREMIUM DUE AND PAYABLE UNDER THIS POLICY SHALL REMAIN THE SOLE RESPONSIBILITY OF THE PRIMARY INSURED. NOTHING IN THIS ENDORSEMENT CONTAINED SHALL BE HELD TO VARY, ALTER, WAIVE OR EXTEND ANY OF THE TERMS, CONDITIONS, AGREEMENTS, OR LIMITATIONS OF THIS POLICY OTHER THAN AS STATED. NOTHING ELSEWHERE IN THIS POLICY SHALL BE HELD TO VARY, ALTER, WAIVE OR LIMIT THE TERMS, CONDITIONS, AGREEMENTS OR LIMITATIONS OF THIS ENDORSEMENT. COUNTERSIGNED AND ISSUED AT SAN FRANCISCO: ~!,~ MARCH 7, 2018 PRESIDENT AND CEO 3 OF 3 0015 n1n nP ?17 I!~- LIA Administrators & Insurance Services APPRAISAL AND VALUATION PROFESSIONAL LIABILITY INSURANCE POLICY DECLARATIONS ASPEN AMERICAN INSURAJ~CE COMP ANY (A stock insurance company herein called the "Company") 175 Capitol Blvd. Suite 100 Rocky Hill, CT 06067 ASPEN Date Issued Policy Number Previous Policy Number 02 /22/2017 AAI006003-02 AAI006003-0l 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 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. Item 1. Customer ID : 168583 Named Insured: CARNEGHI-NAK.ASAKO AND ASSOCIATES Rick Nakasako 1602 The A lameda, Suite 103 San Jose, CA 95126 2. Policy Period: From: 04/11 /2017 To: 04/11/2018 12:01 A.M. Standard Time at the address stated in 1 above. 3. Deductible: $1,000 Each Claim 4. Retroactive Date : 04/11 /2016 5. Inception Date: 04/11/2016 6. Limits of Liability: A. $1,000 ,000 Each Claim B. $2 ,000 ,000 Aggregate 7. Mail a ll notices, including notice of Claim, to: LIA Administrators & Insurance Services 1600 Anacapa Street Santa Barbara, California 9310 l (800) 334-0652; Fax: (805) 962-0652 8. Annua l Premium: $4,841.00 9. Forms attached at issue: LIA002 (12/14) LIA CA (11/14) LIA012 (12/14) LIA013 (10/14) LIA018 (10/14) LIA025A (11/14) LIA122 (10/14) LIA122 (10/14) #2 LIA122 (10/14) #3 LIA122 (10/14) #4 This Declara tions Page , together with the completed and signed Policy Application including all attachments and exlubits thereto , and the Policy shall con stitute the contract between the Named Insure d and ~ 02 /22/2017 By~~~ Date Authorizecisi..: a tu.re LIA-00 I (12/14) Aspen American Insurance Company Appraisal and Valuation Professional Liability Insurance Policy Named Insured: CARNEGHI-NAKASAKO AND ASSOCIATES Rick Nakasako ASPEN Policy Number: AAI006003-02 Effective Date: 04/ l l /2017 Customer ID: 168583 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 (I) "Insured" is amended to include: "Insured" means: The persons identified below, but only while acting on behalf of the Named Insured: Name Rick N akasako Bradley Cameghi Neil Johnson Brian Carusi Coverage Effective Date 04/11 /2017 04/11/2017 04/11 /2017 04/11/2017 All other terms, conditions, and exclusions of this Policy remain unchanged. Aspen American Insurance Company LIA012 (12/14) Pagel of l Principal/Owner, Appraiser or Trainee Principal/Owner Principal/Owner Appraiser Appraiser Appraisal and Valuation Professional Liability Insurance Policy Named Insured: CAR1\1EGHI-NAKASAKO AND ASSOCIATES Rick Nakasako ASPEN Policy Number: AAI006003-02 Effective Date: 04/11 /2017 Customer ID: 168583 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 Rick Nakasako Bradley Cameghi Neil Johnson Brian Carnsi Effective Date of Approval 04/11/2017 04/11 /2017 04/11/2017 04/11 /2017 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 American Insurance Company LIA.013 (10/14) Page 1 of 1 APPRAISAL AND VALUATION PROFESSIONAL LIABILITY INSURANCE POLICY ASPEN N a med lnsured:CARNEGHI-AKASAI<O AN D A SSOCIATES Ri ck Nakasako Policy Number: J\.AI0 06003-02 Effective Date: 01/01/2018 Customer ID: 16 8583/ns THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. ADDITIONAL COVERED APPRAISERS ENDORSEMENT In consideration of th e premium charged, it is agreed that Section IV. DEFINITIONS (I) "Insured" is amended to include: "Insured" means : The persons identified below, but only while acting on behalf of the Name d Insured: Coverage Principal/ Owner, Name Effective D ate A ppraise r or Trainee \Va yne Francis Pres cott 01 /01/2018 Appraise r Frank E. Schmidt 01 /01 /2018 A ppraise r Matthew D are \X'atson 01/01/2018 A ppraiser Additional Premium: S.77 5.00 All other terms , conditions , and exclusions of th.is Pol.ic y remain unchanged. As pen Ame ri can Insurance Company LIA012 (12/14) #2 12 /11 /2017 P age 1 of 1 APPRAISAL AND VALUATION PROFESSIONAL LIABILITY INSURANCE POLICY Named Insured:CARNEGHI-AKASAKQ _· D ASSOCIATES Rick -akasako ASPEN Policy Number: AAI006003 -02 Effective D at e: Customer ID: 01/01 /2018 1685 83/ns THIS ENDORSE MENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. COMMERCIAL PROPERTY APPRAISAL ENDORSEMENT In consideration of the premium charged, it is agreed that the Insureds identified below ha ve been approve d by the Company to p erform Professional Services involving Commercial Property , , Insured \Xi' ayne Fran ci s P re sco tt Frank E. Schmidt :lvfatthew D are \\fatson Effective Date of Approval 01 /01 /2018 01/01 /2018 01 /01/2018 Exclu sion (1'1) remains unchanged an d effective , however, unle ss the Insured identifie d is approved for Professional Services involving und eveloped or va cant land whose pro pose d use is for multiple unit single-family housing developments, condominium de ve lopments, co-operative housing developments or apartment developments consisting of 10 units or more . All other terms, conditions , and exclusions of this P oli cy remain unchanged. As pen American Insurance Company LIA013 (10/14) #2 12/11 /2017 P age 1 of 1 APPRAISAL AND VALUATION PROFESSIONAL LIABILITY INSURANCE POLICY N amed Insured : CARNEGHI-AKASA.KO AND AS SOCIA TES Rick Nakasako ASPEN Policy Number: A.1\100 6003 -02 Effectiv e D ate : 01 /01 /2018 Cu s tomer ID : 168583/ns THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY . VA CAN T LAN D ENDORS EMEN T (with Retro D ate) In consideration of th e premium charged, it is agre ed that the coverage provi ded by this Policy is amende d as fo ll o,vs : Section V. Exclusions (L) and (N) are deleted and replaced with the following: This Policy d oes not apply to and the Company shall not be liable for D am ages and / or Cl aims E,-.-p enses res ulting from any Claim made agains t an Insured: (L) Based u pon, attributable to, or arising out of: (1) Professional Servi ces in connection with proposed or future construction used or included in a solicitation, pros p ectus or offering to prospective inves tors, limited partners, members or shareholders in a real estate syndicate, real estate investment trust, limited partnership or other investment vehicle .; or (2) al lege d violations of the Securi ties Ac t of 1933 or 1934 an d th e amendments thereto, or an y 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 prep are d for or on behalf of a mor tgage lend er, bank, savings and loa n or credit union and was u se d or included in the solicitatio n, prospectu s or offering wi thout the Insured's consent or knowledge. (N) Based upon, attributable to, or arising out of: Profe ssional Services involving undeveloped or vacant land whose proposed use is for multiple unit single-family h ousing developments, condominium developmen ts, co -operative housing developments or apartment developments consisting of 10 units or more, unless the appraisal is p erformed or supervised and signe d by one o f the foll owing Insureds , on or after the date specified below: NAl\1E D ATE: Wayne Francis Prescott 01/01 /20 18 Frank E. Sclunid t 01/01/2018 Matth ew D are Wa tson 01/01 /2018 All other terms, con ditions, and exclusions of this Policy remain unchanged. As pen A merican Insurance Company Page 1 of 1 LIA025A (11 /14) #2 12/11 /2017