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HomeMy WebLinkAboutLC20-15 NKF Valuation1
LCV Professional Services Final 5/14
AGREEMENT FOR PROFESSIONAL SERVICES BETWEEN LAKE CREEK VILLAGE LLC
AND
NEWMARK KNIGHT FRANK VALUATION & ADVISORY, LLC
THIS AGREEMENT (“Agreement”) is effective as of __________________, by and between Newmark
Knight Frank Valuation & Advisory, LLC a Delaware limited liability company (hereinafter “Consultant”)
and Lake Creek Village LLC, a Colorado limited liability company (hereinafter “LCV”).
RECITALS
WHEREAS, Lake Creek Village desires a detailed report summarizing the market value of the property as
both market-rate and income restricted located at (the “Project”) 4923 Lake Creek Village Drive, Edwards,
CO 81632 (the “Property”); and
WHEREAS, Consultant is authorized to do business in the State of Colorado and has the time, skill,
expertise, and experience necessary to provide the Services as defined below in paragraph 1 hereof; and
WHEREAS, this Agreement shall govern the relationship between Consultant and LCV in connection with
the services. The report shall be prepared for the following purpose: Valuation of the property to be utilized
during a refinance or sale. The intended users shall be LCV and Eagle County Housing Authority.
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing and the following promises Consultant and LCV
agree as follows:
1.Services. Consultant agrees to diligently provide all services, labor, personnel and materials
necessary to perform and complete the services described in Exhibit A (“Services”) which is attached hereto
and incorporated herein by reference. The Services shall be performed in accordance with the provisions
and conditions of this Agreement.
a.Consultant agrees to furnish the Services no later than November 30, 2020, and in
accordance with the schedule established in Exhibit A. If no completion date is specified in Exhibit A, then
Consultant agrees to furnish the Services in a timely and expeditious manner consistent with the applicable
standard of care. By signing below Consultant represents that it has the expertise and personnel necessary
to properly and timely perform the Services.
b.In the event of any conflict or inconsistency between the terms and conditions set forth in
Exhibit A and the terms and conditions set forth in this Agreement, the terms and conditions set forth in
this Agreement shall prevail.
c.Consultant agrees that it will not enter into any consulting or other arrangements with third
parties that will conflict in any manner with the Services.
2.LCV’s Representative. The Portfolio Manager, Daniel Murray, the Housing Department’s designee
shall be Consultant’s contact with respect to this Agreement and performance of the Services.
3.Term of the Agreement. This Agreement shall commence upon the date first written above, and
subject to the provisions of paragraph 12 hereof, shall continue in full force and effect through the 30th of
November 2020.
4.Extension or Modification. This Agreement may not be amended or supplemented, nor may any
obligations hereunder be waived, except by agreement signed by both parties. No additional services or
work performed by Consultant shall be the basis for additional compensation unless and until Consultant
has obtained written authorization and acknowledgement by LCV for such additional services in accordance
DocuSign Envelope ID: 57AE870C-FE4B-4566-A93E-B25235B8ADD9
9/30/2020
LC20-15
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LCV Professional Services Final 5/14
with LCV’s internal policies. Accordingly, no course of conduct or dealings between the parties, nor verbal
change orders, express or implied acceptance of alterations or additions to the Services, and no claim that
LCV has been unjustly enriched by any additional services, whether or not there is in fact any such unjust
enrichment, shall be the basis of any increase in the compensation payable hereunder. In the event that
written authorization and acknowledgment by LCV for such additional services is not timely executed and
issued in strict accordance with this Agreement, Consultant’s rights with respect to such additional services
shall be deemed waived and such failure shall result in non-payment for such additional services or work
performed.
5. Compensation. LCV shall compensate Consultant for the performance of the Services in a sum
computed and payable as set forth in Exhibit A. The performance of the Services under this Agreement
shall not exceed $4,000. Consultant shall not be entitled to bill at overtime and/or double time rates for
work done outside of normal business hours unless specifically authorized in writing by LCV.
a. Payment will be made for Services satisfactorily performed within thirty (30) days of
receipt of a proper and accurate invoice from Consultant. All invoices shall include detail regarding the
hours spent, tasks performed, who performed each task and such other detail as LCV may request.
b. Any out-of-pocket expenses to be incurred by Consultant and reimbursed by LCV shall be
identified on Exhibit A. Out-of-pocket expenses will be reimbursed without any additional mark-up thereon
and are included in the not to exceed contract amount set forth above. Out-of-pocket expenses shall not
include any payment of salaries, bonuses or other compensation to personnel of Consultant. Consultant
shall not be reimbursed for expenses that are not set forth on Exhibit A unless specifically approved in
writing by LCV.
c. If, at any time during the term or after termination or expiration of this Agreement, LCV
reasonably determines that any payment made by LCV to Consultant was improper because the Services
for which payment was made were not performed as set forth in this Agreement, then upon written notice
of such determination and request for reimbursement from LCV, Consultant shall forthwith return such
payment(s) to LCV. Upon termination or expiration of this Agreement, unexpended funds advanced by
LCV, if any, shall forthwith be returned to LCV.
d. LCV will not withhold any taxes from monies paid to Consultant hereunder and Consultant
agrees to be solely responsible for the accurate reporting and payment of any taxes related to payments
made pursuant to the terms of this Agreement.
6. Sub-consultants. Consultant acknowledges that LCV has entered into this Agreement in reliance
upon the particular reputation and expertise of Consultant. Consultant shall not enter into any sub-
consultant agreements for the performance of any of the Services or additional services without LCV’s
prior written consent, which may be withheld in LCV’s sole discretion. LCV shall have the right in its
reasonable discretion to approve all personnel assigned to the subject Project during the performance of this
Agreement and no personnel to whom LCV has an objection, in its reasonable discretion, shall be assigned
to the Project. Consultant shall require each sub-consultant, as approved by LCV and to the extent of the
Services to be performed by the sub-consultant, to be bound to Consultant by the terms of this Agreement,
and to assume toward Consultant all the obligations and responsibilities which Consultant, by this
Agreement, assumes toward LCV. LCV shall have the right (but not the obligation) to enforce the
provisions of this Agreement against any sub-consultant hired by Consultant and Consultant shall cooperate
in such process. Consultant shall be responsible for the acts and omissions of its agents, employees and
sub-consultants or sub-contractors.
7. Insurance. Consultant agrees to provide and maintain at Consultant’s sole cost and expense, the
following insurance coverage with limits of liability not less than those stated below:
a. Types of Insurance
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LCV Professional Services Final 5/14
i. Workers’ Compensation insurance as required by law.
ii. Auto coverage with limits of liability not less than $1,000,000 each accident
combined bodily injury and property damage liability insurance, including coverage for owned, hired, and
non-owned vehicles.
iii. Commercial General Liability coverage to include premises and operations,
personal/advertising injury, products/completed operations, broad form property damage with limits of
liability not less than $1,000,000 per occurrence and $2,000,000 aggregate limits.
iv. Professional liability insurance with prior acts coverage for all Services required
hereunder, in a form and with an insurer or insurers reasonably satisfactory to LCV, with limits of liability
of not less than $1,000,000 per claim and $2,000,000 in the aggregate. In the event the professional liability
insurance is on a claims-made basis, Consultant warrants that any retroactive or effective date under the
policy shall precede the effective date of this Agreement. Continuous coverage will be maintained during
any applicable statute of limitations for the Services and Project.
b. Other Requirements
i. The automobile and commercial general liability coverage shall include LCV, its
associated or affiliated entities, its successors and assigns, elected officials, employees, agents and
volunteers as additional insureds solely with regard to claims arising out of this Agreement.
ii. Consultant’s certificates of insurance shall include sub-consultants as additional
insureds under its policies or Consultant shall furnish to LCV separate certificates and endorsements for
each sub-consultant. All coverage(s) for sub-consultants shall be subject to the same minimum requirements
identified above. Consultant and sub-consultants, if any, shall maintain the foregoing coverage in effect
until the Services are completed. In addition, all such policies shall be kept in force by Consultant and its
sub-consultants until the applicable statute of limitations for the Project and the Services has expired.
iii. Insurance shall be placed with insurers duly licensed or authorized to do business
in the State of Colorado and with an “A.M. Best” rating of not less than A-VII.
iv. Consultant’s insurance coverage shall be primary and non-contributory with
respect to all other available sources. Consultant’s policy shall contain a waiver of subrogation against
LCV.
v. All policies must contain an endorsement affording an unqualified thirty (30) days’
notice of cancellation to Consultant in the event of cancellation of coverage, and Consultant shall promptly
forward to LCV a copy of any such notice Consultant may receive.
vi. Consultant shall provide LCV with a certificate of insurance evidencing all
required coverage(s) within five (5) days after the full execution of this Agreement. Upon reasonable
request, Consultant shall provide a copy of the actual insurance policy and/or required endorsements
required under this Agreement within five (5) business days of a written request from LCV.
vii. Consultant shall advise LCV in the event the general aggregate or other aggregate
limits are reduced below the required per occurrence limit. Consultant, at its own expense, will reinstate
the aggregate limits to comply with the minimum limits and shall furnish LCV a new certificate of insurance
showing such coverage.
viii. If Consultant fails to secure and maintain the insurance required by this Agreement
and provide satisfactory evidence thereof to LCV, LCV shall be entitled to immediately terminate this
Agreement.
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LCV Professional Services Final 5/14
ix. The insurance provisions of this Agreement shall survive expiration or termination
hereof.
x. The parties hereto understand and agree that LCV is relying on, and does not waive
or intend to waive by any provision of this Agreement, the monetary limitations or rights, immunities and
protections provided by the Colorado Governmental Immunity Act, as from time to time amended, or
otherwise available to LCV, its affiliated entities, successors or assigns, its elected officials, employees,
agents and volunteers.
xi. Consultant is not entitled to workers’ compensation benefits except as provided by
Consultant, nor to unemployment insurance benefits unless unemployment compensation coverage is
provided by Consultant or some other entity. Consultant is obligated to pay all federal and state income tax
on any moneys paid pursuant to this Agreement.
8. Indemnification. Consultant shall indemnify and hold harmless LCV, and any of its officers, agents
and employees against any losses, claims, damages or liabilities for which LCV may become subject to
insofar as any such losses, claims, damages or liabilities arise out of, directly or indirectly, this Agreement,
or are based upon any performance or nonperformance by Consultant or any of its sub- consultants
hereunder; and Consultant shall reimburse LCV for reasonable attorney fees and costs, legal and other
expenses incurred by LCV in connection with investigating or defending any such loss, claim, damage,
liability or action. This indemnification shall not apply to claims by third parties against LCV to the extent
that LCV is liable to such third party for such claims without regard to the involvement of Consultant. This
paragraph shall survive expiration or termination hereof.
9. Ownership of Documents. All documents prepared by Consultant in connection with the Services
shall become property of LCV. Consultant shall execute written assignments to LCV of all rights (including
common law, statutory, and other rights, including copyrights) to the same as LCV shall from time to time
request. For purposes of this paragraph, the term “documents” shall mean and include all reports, plans,
studies, tape or other electronic recordings, drawings, sketches, estimates, data sheets, maps and work
sheets produced, or prepared by or for Consultant (including any employee or subcontractor in connection
with the performance of the Services and additional services under this Agreement).
10. Notice. Any notice required by this Agreement shall be deemed properly delivered when (i)
personally delivered, or (ii) when mailed in the United States mail, first class postage prepaid, or (iii) when
delivered by FedEx or other comparable courier service, charges prepaid, to the parties at their respective
addresses listed below, or (iv) when sent via facsimile so long as the sending party can provide facsimile
machine or other confirmation showing the date, time and receiving facsimile number for the transmission,
or (v) when transmitted via e-mail with confirmation of receipt. Either party may change its address for
purposes of this paragraph by giving five (5) days prior written notice of such change to the other party.
LCV:
Attention: Kim Williams
500 Broadway
Post Office Box 850
Eagle, CO 81631
Telephone: 970-328-8773
Facsimile: 970-328-8787
E-mail:
With a copy to:
DocuSign Envelope ID: 57AE870C-FE4B-4566-A93E-B25235B8ADD9
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LCV Professional Services Final 5/14
Eagle County Attorney
500 Broadway
Post Office Box 850
Eagle, Co 81631
Telephone: 970-328-8685
Facsimile: 970-328-8699
E-mail: atty@eaglecounty.us
CONSULTANT:
Newmark Knight Frank Valuation & Advisory, LLC
Attn: Laurel C. Barsa
4100 E Mississippi Avenue, Suite 950
Denver, CO 80246
Telephone: 3030-300-1207
E-mail: laurel.barsa@ngkf.com
With a copy to:
Newmark Knight Frank
19700 Fairchild Road, Suite 300
Irvine, California 92612
Attn: Legal Department
Email: legaldept@ngkf.com
11. Coordination. Consultant acknowledges that the development and processing of the Services for
the Project may require close coordination between various consultants and contractors. Consultant shall
coordinate the Services required hereunder with the other consultants and contractors that are identified by
LCV to Consultant from time to time, and Consultant shall immediately notify such other consultants or
contractors, in writing, of any changes or revisions to Consultant’s work product that might affect the work
of others providing services for the Project and concurrently provide LCV with a copy of such notification.
Consultant shall not knowingly cause other consultants or contractors extra work without obtaining prior
written approval from LCV. If such prior approval is not obtained, Consultant shall be subject to any offset
for the costs of such extra work.
12. Termination. LCV may terminate this Agreement, in whole or in part, at any time and for any
reason, with or without cause, and without penalty therefor with seven (7) calendar days’ prior written
notice to Consultant. Upon termination of this Agreement, Consultant shall immediately provide LCV with
all documents as defined in paragraph 9 hereof, in such format as LCV shall direct and shall return all LCV
owned materials and documents. LCV shall pay Consultant for Services satisfactorily performed to the date
of termination. Consultant shall have no obligation to return LCV owned materials and documents
automatically saved to Recipient’s electronic archives pursuant to its standard data retention practices. The
appraisal and/or that portion of the said materials and documents relied upon in forming the valuation opinion
or the work product is required to be retained in Consultant’s files by the Appraisal Institute’s Standards of
Professional Appraisal Practice and the Uniform Standards of Professional Appraisal Practice (USPAP) of
The Appraisal Standards Board of the Appraisal Foundation.
13. Venue, Jurisdiction and Applicable Law. Any and all claims, disputes or controversies related to
this Agreement, or breach thereof, shall be litigated in the District Court for Eagle County, Colorado, which
shall be the sole and exclusive forum for such litigation. This Agreement shall be construed and interpreted
under and shall be governed by the laws of the State of Colorado.
14. Execution by Counterparts; Electronic Signatures. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same
DocuSign Envelope ID: 57AE870C-FE4B-4566-A93E-B25235B8ADD9
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LCV Professional Services Final 5/14
instrument. The parties approve the use of electronic signatures for execution of this Agreement. Only the
following two forms of electronic signatures shall be permitted to bind the parties to this Agreement: (i)
Electronic or facsimile delivery of a fully executed copy of the signature page; (ii) the image of the signature
of an authorized signer inserted onto PDF format documents. All documents must be properly notarized, if
applicable. All use of electronic signatures shall be governed by the Uniform Electronic Transactions Act,
C.R.S. 24-71.3-101 to 121.
15. Other Contract Requirements
a. Consultant shall be responsible for the completeness and accuracy of the Services,
including all supporting data or other documents prepared or compiled in performance of the Services, and
shall correct, at its sole expense, all significant errors and omissions therein. The fact that LCV has accepted
or approved the Services shall not relieve Consultant of any of its responsibilities. Consultant shall perform
the Services in a skillful, professional and competent manner and in accordance with the standard of care,
skill and diligence applicable to Consultants performing similar services. Consultant represents and
warrants that it has the expertise and personnel necessary to properly perform the Services and covenants
that its professional personnel are duly licensed to perform the Services within Colorado. This paragraph
shall survive termination of this Agreement.
b. Consultant agrees to work in an expeditious manner, within the sound exercise of its
judgment and professional standards, in the performance of this Agreement. Time is of the essence with
respect to this Agreement.
c. This Agreement constitutes an agreement for performance of the Services by Consultant
as an independent contractor and not as an employee of LCV. Nothing contained in this Agreement shall
be deemed to create a relationship of employer-employee, master-servant, partnership, joint venture or any
other relationship between LCV and Consultant except that of independent contractor. Consultant shall
have no authority to bind LCV.
d. Consultant represents and warrants that at all times in the performance of the Services,
Consultant shall comply with any and all applicable laws, codes, rules and regulations.
e. This Agreement contains the entire agreement between the parties with respect to the
subject matter hereof and supersedes all other agreements or understanding between the parties with respect
thereto.
f. Consultant shall not assign any portion of this Agreement without the prior written consent
of LCV. Any attempt to assign this Agreement without such consent shall be void.
g. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto
and their respective permitted assigns and successors in interest. Enforcement of this Agreement and all
rights and obligations hereunder are reserved solely for the parties, and not to any third party.
h. No failure or delay by either party in the exercise of any right hereunder shall constitute a
waiver thereof. No waiver of any breach shall be deemed a waiver of any preceding or succeeding breach.
i. The invalidity, illegality or unenforceability of any provision of this Agreement shall not
affect the validity or enforceability of any other provision hereof.
j. The signatories to this Agreement aver to their knowledge, no employee of LCV has any
personal or beneficial interest whatsoever in the Services or Property described in this Agreement.
Consultant has no beneficial interest, direct or indirect, that would conflict in any manner or degree with
the performance of the Services and Consultant shall not employ any person having such known interests.
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LCV Professional Services Final 5/14
16. Prohibitions on Contracts
a. As used in this Section 16, the term undocumented individual will refer to those individuals
from foreign countries not legally in the United States as set forth in C.R.S. 8-17.5-101, et. seq. If Consultant
has any employees or subcontractors, Consultant shall not:
i. Knowingly employ or contract with an undocumented individual to perform
Services under this Agreement; or
ii. Enter into a subcontract that fails to certify to Consultant that the subcontractor
shall not knowingly employ or contract with an undocumented individual to perform work under the
contract for services.
b. If Consultant obtains actual knowledge that a subcontractor performing work under the
contract for services knowingly employs or contracts with an undocumented individual, Consultant shall
be required to:
i. Notify the subcontractor and LCV within three (3) days that Consultant has actual
knowledge that the subcontractor is employing or contracting with an undocumented individual; and
ii. Terminate the subcontract with the subcontractor if within three (3) days of
receiving the notice required pursuant to subparagraph (i) of the paragraph 14(b) the subcontractor does not
stop employing or contracting with the undocumented individual; except that Consultant shall not terminate
the contract with the subcontractor if during such three (3) days the subcontractor provides information to
establish that the subcontractor has not knowingly employed or contracted with an undocumented
individual.
c. If Consultant violates these prohibitions, LCV may terminate the Agreement for breach of
contract. If the Agreement is so terminated specifically for breach of this provision of this Agreement,
Consultant shall be liable for actual and consequential damages to LCV.
d. LCV may notify the Colorado Secretary of State if Consultant violates this provision of
this Agreement and LCV terminates the Agreement for such breach.
IN WITNESS WHEREOF, the parties have executed this Agreement the day and year first set forth above.
Lake Creek Village LLC
By and through Eagle County Housing and
Development Authority, its sole member
By:
Kimberly Bell Williams
Executive Director
Newmark Knight Frank Valuation & Advisory,
LLC, a Delaware limited liability company
By:
Laurel Barsa
Title:
DocuSign Envelope ID: 57AE870C-FE4B-4566-A93E-B25235B8ADD9
Executive Vice President
8
LCV Professional Services Final 5/14
EXHIBIT A
SCOPE OF SERVICES, SCHEDULE, FEES
DocuSign Envelope ID: 57AE870C-FE4B-4566-A93E-B25235B8ADD9
8/27/2020 Eagle County Government Mail - Proposal for Restricted Appraisal of Lake Creek Village
https://mail.google.com/mail/u/0?ik=ac3eb3614d&view=pt&search=all&permmsgid=msg-f%3A1674036131280622251&simpl=msg-f%3A16740361312…1/2
Daniel Murray <daniel.murray@eaglecounty.us>
Proposal for Restricted Appraisal of Lake Creek Village
Barsa, Laurel <Laurel.Barsa@ngkf.com>Mon, Aug 3, 2020 at 2:07 PM
To: Kim Bell Williams <kim.williams@eaglecounty.us>
Cc: Daniel Murray <daniel.murray@eaglecounty.us>
Good afternoon Kim and Daniel,
It was a pleasure talking to you this afternoon. Our fee to complete a restricted appraisal of Lake Creek Village is $4,000
with delivery within 6 weeks. The project would constitute a restricted analysis with the scope of work initially defined
below.
Summary multifamily market analysis
Summary property description
Two Income Capitalization approaches to value
1. Market value as a market-rate property
2. Market value as an income restricted property with rents established at 80% of AMI
Survey of comparable market-rate properties to assist in determining market rent.
Analysis of income and expenses to include subject financials and comparables.
The report will not contain a land value, cost approach, or complete sales comparison approach (though relevant sales
will be analyzed to assist in determination of appropriate capitalization rates).
Please let me know if there is anything else.
Laurel
Laurel C. Barsa, MAI
Executive Vice President | Valuation & Advisory
Newmark Knight Frank
4100 E. Mississippi Ave., Suite 950
Denver, CO 80246
T 303.300.1207
laurel.barsa@ngkf.com
DocuSign Envelope ID: 57AE870C-FE4B-4566-A93E-B25235B8ADD9
8/27/2020 Eagle County Government Mail - Proposal for Restricted Appraisal of Lake Creek Village
https://mail.google.com/mail/u/0?ik=ac3eb3614d&view=pt&search=all&permmsgid=msg-f%3A1674036131280622251&simpl=msg-f%3A16740361312…2/2
NOTICE: This e-mail message and any attachments are intended solely for the use of the intended recipient, and may
contain information that is confidential, privileged and exempt from disclosure under applicable law. If you are not the
intended recipient, you are not permitted to read, disclose, reproduce, distribute, use or take any action in reliance upon
this message and any attachments, and we request that you promptly notify the sender and immediately delete this
message and any attachments as well as any copies thereof. Delivery of this message to an unintended recipient is not
intended to waive any right or privilege. Newmark Knight Frank is neither qualified nor authorized to give legal or tax
advice, and any such advice should be obtained from an appropriate, qualified professional advisor of your own choosing.
DocuSign Envelope ID: 57AE870C-FE4B-4566-A93E-B25235B8ADD9
SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE
THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN
ACCORDANCE WITH THE POLICY PROVISIONS.
INSURER(S) AFFORDING COVERAGE
INSURER F :
INSURER E :
INSURER D :
INSURER C :
INSURER B :
INSURER A :
NAIC #
NAME:CONTACT
(A/C, No):FAX
E-MAILADDRESS:
PRODUCER
(A/C, No, Ext):PHONE
INSURED
REVISION NUMBER:CERTIFICATE NUMBER:COVERAGES
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 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).
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.
OTHER:
(Per accident)
(Ea accident)
$
$
N / A
SUBR
WVD
ADDL
INSD
THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD
INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS
CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS,
EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS.
$
$
$
$PROPERTY DAMAGE
BODILY INJURY (Per accident)
BODILY INJURY (Per person)
COMBINED SINGLE LIMIT
AUTOS ONLY
AUTOSAUTOS ONLY NON-OWNED
SCHEDULEDOWNED
ANY AUTO
AUTOMOBILE LIABILITY
Y / N
WORKERS COMPENSATION
AND EMPLOYERS' LIABILITY
OFFICER/MEMBER EXCLUDED?
(Mandatory in NH)
DESCRIPTION OF OPERATIONS below
If yes, describe under
ANY PROPRIETOR/PARTNER/EXECUTIVE
$
$
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E.L. DISEASE - POLICY LIMIT
E.L. DISEASE - EA EMPLOYEE
E.L. EACH ACCIDENT
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LIMITS(MM/DD/YYYY)POLICY EXP(MM/DD/YYYY)POLICY EFFPOLICY NUMBERTYPE OF INSURANCELTRINSR
DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES (ACORD 101, Additional Remarks Schedule, may be attached if more space is required)
EXCESS LIAB
UMBRELLA LIAB $EACH OCCURRENCE
$AGGREGATE
$
OCCUR
CLAIMS-MADE
DED RETENTION $
$PRODUCTS - COMP/OP AGG
$GENERAL AGGREGATE
$PERSONAL & ADV INJURY
$MED EXP (Any one person)
$EACH OCCURRENCE
DAMAGE TO RENTED $PREMISES (Ea occurrence)
COMMERCIAL GENERAL LIABILITY
CLAIMS-MADE OCCUR
GEN'L AGGREGATE LIMIT APPLIES PER:
POLICY PRO-JECT LOC
CERTIFICATE OF LIABILITY INSURANCE DATE (MM/DD/YYYY)
CANCELLATION
AUTHORIZED REPRESENTATIVE
ACORD 25 (2016/03)
© 1988-2015 ACORD CORPORATION. All rights reserved.
CERTIFICATE HOLDER
The ACORD name and logo are registered marks of ACORD
HIRED
AUTOS ONLY
7/15/2020
Woodbury,NY -Retail-Hub International Northeast
100 Sunnyside Boulevard
Woodbury NY 11797
516-677-4700 516-496-4040
Great American Alliance Insurance Company 26832
G&EREAL-04
Newmark Group,Inc.
125 Park Avenue
New York NY 10017
1868795182
A Professional Liability TER2860975 7/15/2020 7/15/2021 Each Claim
Aggregate
SIR
15,000,000
15,000,000
See Below
Evidence of Insurance.Policy is not location specific.
Self Insured Retention:$250,000 Each Claim except;$250,000 Each Claim/$750,000 Aggregate for Construction Management Services.
TOTAL LIMIT:$100,000,000
INSURERS AFFORDING COVERAGE:Great American;Ironshore Indemnity;QBE;Markel;Everest National Ins.Co.;Aspen American;Atlantic Specialty Ins.
Co.;Westchester Fire;XL Specialty Ins.Co.
Named Insured:Newmark Knight Frank Valuation &Advisory,LLC
Evidence of Insurance
DocuSign Envelope ID: 57AE870C-FE4B-4566-A93E-B25235B8ADD9