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HomeMy WebLinkAbout2019-543-E Tax - Analytical Consultants property dataRevised 12/18 1 [Departmental Use Only] TITLE Analytical Consultants FY 2019-2020 NORTH CAROLINA CONSULTING SERVICES AGREEMENT UNDER $90,000 ORANGE COUNTY This Agreement, made and entered into this 17 day of July, 2019, (“Effective Date”) by and between Orange County, North Carolina a body politic and corporate of the State of North Carolina (hereinafter, the "County") and Analytical Consultants, (hereinafter, the "Consultant"). WITNESSETH: That the County and Consultant, for the consideration herein named, do hereby agree as follows: ARTICLE 1 SCOPE OF WORK 1.1 Scope of Work 1.1.1 This Services Agreement (“Agreement”) is for professional consulting services to be rendered by Consultant to County with respect to (insert type of project) For the Orange County Tax Reassesment to take effect for January 1, 2021 provide: (1) Commercial Land Sales Information and Supporting Data in Orange County and Surrounding Area; and (2) Commercial Property Income Information for Populating Income Modules. 1.1.2 By executing this Agreement, the Consultant represents and agrees that Consultant is qualified to perform and fully capable of performing and providing the services required or necessary under this Agreement in a fully competent, professional and timely manner. 1.1.3 Time is of the essence with respect to this Agreement. 1.1.4 The services to be performed under this Agreement consist of Basic Services, as described and designated in Article 3 hereof. Compensation to the Consultant for Basic Services under this Agreement shall be as set forth herein. ARTICLE 2 RESPONSIBILITIES OF THE CONSULTANT 2.1 Services to be Provided. The Consultant shall provide the County with all services required in Article 3 to satisfactorily complete the Project within the time limitations set forth herein and in accordance with the highest professional standards. 2.2. Standard of Care 2.2.1 The Consultant shall exercise reasonable care and diligence in performing services under this Agreement in accordance with the highest generally accepted standards of this type of Consultant practice throughout the United States and in accordance with applicable federal, state and local laws and regulations applicable to the performance of these services. Consultant is DocuSign Envelope ID: 48D95A50-1183-4EB9-9997-46BD3A0D7724 Revised 12/18 2 solely responsible for the professional quality, accuracy and timely completion and submission of all reports, drawings, specifications, plans, documents and services (hereinafter “Deliverables”) related to the Basic Services. 2.2.2 The Consultant shall be responsible for all errors or omissions, in the deliverables prepared by the Consultant. 2.2.3 The Consultant shall correct at no additional cost to the County any and all errors, omissions, discrepancies, ambiguities, mistakes or conflicts in any Deliverables prepared by the Consultant. 2.2.4 The Consultant shall assure that all Deliverables prepared by it hereunder are in accordance with applicable laws, statutes, and that any necessary or appropriate applications for approvals are submitted to federal, state and local governments or agencies in a timely manner so as not to delay the Project. 2.2.5 The Consultant shall not, except as otherwise provided for in this Agreement, subcontract the performance of any work under this Agreement without prior written permission of the County. No permission for subcontracting shall create, between the County and the subcontractor, any contract or any other relationship. 2.2.6 Any and all employees of the Consultant engaged by the Consultant in the performance of any work or services required of the Consultant under this Agreement, shall be considered employees or agents of the Consultant only and not of the County, and any and all claims that may or might arise under any workers compensation or other law or contract on behalf of said employees while so engaged shall be the sole obligation and responsibility of the Consultant. 2.2.7 If activities related to the performance of this agreement require specific licenses, certifications, or related credentials Consultant represents that it and/or its employees, agents and subcontractors engaged in such activities possess such licenses, certifications, or credentials and that such licenses certifications, or credentials are current, active, and not in a state of suspension or revocation. ARTICLE 3 BASIC SERVICES 3.1 Basic Services 3.1.1 The Consultant shall perform as Basic Services the work and services described herein and as described in Exhibit 1: Proposal to Consult, dated July 2, 2019, Re: Commercial land sales information and supporting data in Orange County and surrounding area; and Exhibit 2: Proposal to Consult, dated July 2, 2019, Re: Providing Commercial Property Income Information for Population Icome Modules, both of which are attached and hereby incorporated into this document . ARTICLE 4 DURATION OF SERVICES 4.1 Scheduling of Services DocuSign Envelope ID: 48D95A50-1183-4EB9-9997-46BD3A0D7724 Revised 12/18 3 4.1.1 The Consultant shall schedule and perform its activities in a timely manner. 4.1.2 Should the County determine that the Consultant is behind the agreed upon schedule, it may require the Consultant to expedite and accelerate his efforts, including providing additional resources and working overtime, as necessary, to perform his services in accordance with the approved project schedule at no additional cost to the County. 4.1.3 The Commencement Date for the Consultant's Basic Services shall be August 1, 2019. ARTICLE 5 COMPENSATION 5.1 Compensation for Basic Services 5.1.1 Compensation for Basic Services shall include all compensation due the Consultant from the County for all services under this Agreement except for any authorized Reimbursable Expenses which are defined herein. The maximum amount payable for Basic Services is Seventy-Six Thousand Dollars ($76,000 ). Payments for Basic Services provided in Exhibit 1 shall be made as follows: Payment in the amount of $10,000 is due upon satisfactory completion of project and receipt of a properly submitted invoice. Payment for Basic Services provided in Exhibit 2 shall be made as follows: Payment of $66,000 shall be made in four installments: the first payment shall be made upon receipt of a fully executed contract and a properly submitted invoice; the second payment of $18,330 shall be paid when half of the property type reports are delivered; the third payment shall be due upon satisfactory completion of the project; and the final payment is due within 30 days after delivery of all update reports. Provider is required to send County an invoice for payment of Basic Services. Payment for Basic Services shall become due and payable in direct proportion to satisfactory services performed, work accomplished and a properly submitted invoice. ARTICLE 6 RESPONSIBILITIES OF THE COUNTY 6.1 Cooperation and Coordination 6.1.1 The County has designated Tax Administrator to act as the County's representative with respect to the Project and shall have the authority to render decisions within guidelines established by the County Manager and the County Board of Commissioners and shall be available during working hours as often as may be reasonably required to render decisions and to furnish information. 6.1.2 The County shall be solely responsible for determining whether Consultant as satisfactorily completed Tasks. It is agreed that County shall not unreasonably withhold its determination of satisfactory completion of any Task. In the event the amount of an invoice is disputed County may withhold payment until the dispute is resolved by the parties. County may also withhold payment on an invoice until the satisfactory completion of a Task by Consultant. ARTICLE 7 INSURANCE AND INDEMNITY 7.1 General Requirements DocuSign Envelope ID: 48D95A50-1183-4EB9-9997-46BD3A0D7724 Revised 12/18 4 7.1.1 Consultant shall obtain, at its sole expense, Commercial General Liability Insurance, Automobile Insurance, Workers’ Compensation Insurance, Professional Liability Insurance, and any additional insurance as may be required by Owner’s Risk Manager as such insurance requirements are described in the Orange County Risk Transfer Policy and Orange County Minimum Insurance Coverage Requirements (each document is incorporated herein by reference and may be viewed at http://www.orangecountync.gov/departments/purchasing_division/contract s.php). If Owner’s Risk Manager determines additional insurance coverage is required such additional insurance shall be designated here (if no additional insurance required mark N/A as being not applicable). Consultant shall not commence work until such insurance is in effect and certification thereof has been received by the Owner's Risk Manager. 7.2 Indemnity 7.2.1 The Consultant agrees, without limitation, to indemnify and hold harmless the County from all loss, liability, claims or expense, including attorney's fees, arising out of or related to the Project and arising from property damage or bodily injury including death to any person or persons caused in whole or in part by the negligence or misconduct of the Consultant except to the extent same are caused by the negligence or willful misconduct of the County. It is the intent of this provision to require the Consultant to indemnify the County to the fullest extent permitted under North Carolina law. ARTICLE 8 AMENDMENTS TO THE AGREEMENT 8.1 Changes in Basic Services 8.1.1 Changes in the Basic Services and entitlement to additional compensation or a change in duration of this Agreement shall be made by a written Amendment to this Agreement executed by the County and the Consultant. The Consultant shall proceed to perform the Services required by the Amendment only after receiving a fully executed Amendment from the County. ARTICLE 9 TERMINATION 9.1 Termination for Convenience of the County 9.1.1 This Agreement may be terminated without cause by the County and for its convenience upon seven (7) days prior written notice to the Consultant. 9.2 Other Termination 9.2.1 The Consultant may terminate this Agreement based upon the County's material breach of this Agreement; provided the County has not taken all reasonable actions to remedy the breach. The Consultant shall give the County seven (7) days' prior written notice of its intent to terminate this Agreement for cause. 9.3 Compensation After Termination DocuSign Envelope ID: 48D95A50-1183-4EB9-9997-46BD3A0D7724 Revised 12/18 5 9.3.1 In the event of termination, the Consultant shall be paid that portion of the fees and expenses that it has earned to the date of termination, less any costs or expenses incurred or anticipated to be incurred by the County due to errors or omissions of the Consultant. 9.3.2 Should this Agreement be terminated, the Consultant shall deliver to the County within seven (7) days, at no additional cost, all Deliverables including any electronic data or files relating to the Project. 9.4 Waiver 9.4.1 The payment of any sums by the County under this Agreement or the failure of the County to require compliance by the Consultant with any provisions of this Agreement or the waiver by the County of any breach of this Agreement shall not constitute a waiver of any claim for damages by the County for any breach of this Agreement or a waiver of any other required compliance with this Agreement. 9.5 Suspension 9.5.1 County may suspend the work at any time for County’s convenience and without penalty to County upon three (3) days’ notice to Consultant. Upon any suspension by County, Consultant shall discontinue the work and shall not resume the work until notified to proceed by County. ARTICLE 10 ADDITIONAL PROVISIONS 10.1 Relationship of Parties 10.1.1 Consultant is an independent contractor of the County. Neither Consultant nor any employee of the Consultant shall be deemed an officer, employee or agent of the County. Consultant's personnel shall not be employees of, or have any contractual relationship with, the County. 10.2 Limitation and Assignment 10.2.1 The County and the Consultant each bind themselves, their successors, assigns, and legal representatives to the terms of this Agreement. Neither the County nor the Consultant shall assign or transfer its interest in this Agreement without the written consent of the other. 10.3 Governing Law 10.3.1 This Agreement and the duties, responsibilities, obligations and rights of respective parties hereunder shall be governed by the laws of the State of North Carolina. Consultant shall at all times remain in compliance with all applicable local, state, and federal laws, rules, and regulations including but not limited to all state and federal anti-discrimination laws, policies, rules, and regulations and the Orange County Non-Discrimination Policy and Orange County Living Wage Policy (each policy is incorporated herein by reference and may be viewed at http://www.orangecountync.gov/departments/purchasing_division/contract s.php). Any violation of this requirement is a breach of this Agreement and County may DocuSign Envelope ID: 48D95A50-1183-4EB9-9997-46BD3A0D7724 Revised 12/18 6 immediately terminate this Agreement without further obligation on the part of the County. This paragraph is not intended to limit the definition of breach to discrimination. By executing this Agreement Consultant affirms that Consultant and any subcontractors of Consultant are and shall remain in compliance with Article 2 of Chapter 64 of the North Carolina General Statutes. Where applicable, failure to maintain compliance with the requirements of Article 2 of Chapter 64 of the General Statutes constitutes Consultant’s breach of this Agreement. By executing this Agreement Consultant affirms Consultant is in compliance with Article 2 of Chapter 64 of the North Carolina General Statutes. By executing this Agreement, Consultant certifies that Consultant has not been identified, and has not utilized the services of any agent or subcontractor, on the Iran divestment list created by the State Treasurer pursuant to G.S. 147- 86.58 and the Israel boycott list created pursuant to G.S. 147-86.81. 10.4 Dispute Resolution 10.4.1 Any and all suits or actions to enforce, interpret or seek damages with respect to any provision of, or the performance or non-performance of, this Agreement shall be brought in the General Court of Justice of North Carolina sitting in Orange County, North Carolina and it is agreed by the parties that no other court shall have jurisdiction or venue with respect to such suits or actions. The Parties may agree to nonbinding mediation of any dispute prior to the bringing of such suit or action. Under no circumstances shall any dispute be addressed through binding arbitration. 10.5 Extent of Agreement 10.5.1 This Agreement, together with the Request for Proposals together with attachments distributed by the County and the Consultant’s submitted Proposal, all of which constitute the Contract Documents, represents the entire and integrated agreement between the County and the Consultant and supersedes all prior negotiations, representations or agreements, either written or oral. In the event of a conflict among the terms of the Contract Documents, the priority of documents shall be This Agreement, the County’s Request for Proposals, attachments to the County’s Request for Proposals, the Consultant’s Proposal. This Agreement may be amended only by written instrument signed by both parties. Modifications may be evidenced by facsimile signatures. 10.6 Severability 10.6.1 If any provision of this Agreement is held as a matter of law to be unenforceable, the remainder of this Agreement shall be valid and binding upon the Parties. 10.7 Ownership of Deliverables 10.7.1 All Deliverables, together with all supporting materials, source documentation, data collected, field notes, and working drafts, developed in the performance of this Agreement shall become the property of the County and may be used on any other project without additional compensation to the Consultant. The use of the Deliverables by the County or by any person or entity for any purpose other than the Project as set forth in this Agreement shall be at the full risk of the County. 10.8 Non-Appropriation DocuSign Envelope ID: 48D95A50-1183-4EB9-9997-46BD3A0D7724 Revised 12/18 7 10.8.1 Consultant acknowledges that County is a governmental entity, and the validity of this Agreement is based upon the availability of public funding under the authority of its statutory mandate. In the event that public funds are unavailable and not appropriated for the performance of County’s obligations under this Agreement, then this Agreement shall aut omatically expire without penalty to County immediately upon written notice to Consultant of the unavailability and non-appropriation of public funds. It is expressly agreed that County shall not activate this non-appropriation provision for its convenience or to circumvent the requirements of this Agreement, but only as an emergency fiscal measure during a substantial fiscal crisis. In the event of a change in the County’s statutory authority, mandate and/or mandated functions, by state and/or federal legislative or regulatory action, which adversely affects County’s authority to continue its obligations under this Agreement, then this Agreement shall automatically terminate without penalty to County upon written notice to Consultant of such limitation or change in County’s legal authority. 10.9 Notices and Signatures 10.9.1 This Agreement together with any amendments or modifications may be executed electronically. All electronic signatures affixed hereto evidence the consent of the Parties to utilize electronic signatures and the intent of the Parties to comply with Article 11A and Article 40 of North Carolina General Statute Chapter 66. 10.9.2 Any notice required by this Agreement shall be in writing and delivered by certified or registered mail, return receipt requested to the following: Orange County Consultant’s Name & Address Attention: Tax Administration Analytical Consultants P.O. Box 8181 125 Kingston Drive, Suite 206 Hillsborough, NC 27278 Chapel Hill, NC 27514 IN WITNESS WHEREOF, the Parties, by and through their authorized agents, have hereunder set their hands and seal, all as of the day and year first above written. COUNTY: Orange County CONSULTANT: Paul Snow, MAI __________________________ ____________________________ County Manager Paul Snow, MAI Printed Name and Title DocuSign Envelope ID: 48D95A50-1183-4EB9-9997-46BD3A0D7724 PROPOSAL TO CONSULT August 2, 2019 Gary Donaldson Interim Tax Director Orange County Office of Tax Administration 228 S. Churton Street, Suite 200 Hillsborough, NC 27278 Re: Commercial land sales information and supporting data in Orange County and surrounding area Purpose: To provide information that will support the upcoming Orange County Tax Reassessment. Type of project/Scope of work: Our work product will comprise the following: Investigation of commercial land sales in Orange County and surrounding areas. Sales will range in size from small acreage to large acreage tracts. Land sales will be located using public records, Triangle Multiple Listing Service (TMLS), CoStar, Loopnet, lending institution’s databases, realtor’s files, appraiser’s files and Analytical’s own in-house data sources. It is worth noting that Analytical Consultant’s has a significant existing database of verified land sales. Verification of land sales will be made wherever possible with a buyer, seller or broker or realtor directly involved in the transaction. Lawyers, lending institutions and public records are considered secondary data sources and in some cases these sales may be disregarded. Sales will be sorted by property type. The results of the analysis and supporting data will be presented to the Orange County Office of Tax Administration in electronic and paper formats. Due Date: Prior to August 15, 2019 Fee: $10,000 Payment Terms: The full fee is due within 30 days of our report delivery. Once the report is accepted, further work on the part of Analytical will be billed at $150 (staff) or $250 (Paul Snow) per hour. 125 Kingston Drive Suite 206 Chapel Hill, NC 27514 DocuSign Envelope ID: 48D95A50-1183-4EB9-9997-46BD3A0D7724 Limitation of Liability / Consultants Liability: Consultant’s liability to County and/or anyone claiming by, through or under County shall not exceed the gross fees paid to the consultant (Analytical Consultants, Inc.) by the County pursuant to this agreement. In no event shall consultant be liable to County and/or anyone claiming by, through or under County for any indirect, special, incidental or consequential damages of any nature whatsoever. Signed: Paul L. Snow Accepted:_____ ________________ Date: August 2, 2019 Accepted:_____________________ Date:______________________ DocuSign Envelope ID: 48D95A50-1183-4EB9-9997-46BD3A0D7724  PROPOSAL TO CONSULT August 2, 2019 Gary Donaldson Interim Tax Director Orange County Office of Tax Administration 228 S. Churton Street, Suite 200 Hillsborough, NC 27278 Re: Providing Commercial Property Income Information for Populating Income Modules. Purpose: To provide information that will support the upcoming Orange County Tax Reassessment. Type of project/Scope of work: Our work product will comprise the following: x Investigation of commercial property rental rates, occupancy rates, expenses (on a per unit, per square foot or expense ratio basis as appropriate) and capitalization rates in Orange County, the surrounding areas, a regional basis or a national basis as applicable. Income information will come from national surveys, local surveys, survey’s made by Analytical for this assignment, Analytical’s in-house files, CoStar and other sources. It is worth noting that Analytical Consultants has performed over 1,700 commercial appraisals in Orange, Durham and Wake County since January 2008 and our files are a very good source of verified local, relevant income and expense data for this assignment. Some property specific income and expense data from our files will need to remain confidential in regards as to the exact property providing the information. x There may be specific property types such as hotels and convenience stores where we will purchase proprietary information / expertise from other vendors to populate the income modules. Although some relatively inexpensive survey information is available, pointed actual information on expenses of hotel and convenience stores in the local market is not widely available. Our fee is inclusive of the cost of resources (surveys, data purchasing, outside consulting, etc.) needed to complete the assignment, which in some cases will include payments to experts in the valuation of certain properties. x Income information will be sorted by property type with each property type being assigned a low, medium and high range (ie Class A, B and C). Some property types will include limited information on subcategories such as medical office as a subcategory of general office space. Retail will include limited data on restaurants, drug stores and convenience stores. x It is important to us that Orange County has all of the assistance needed to ensure that there is adequate data to support the reassessment. We anticipate that it will take us six months to gather and prepare the data needed. In 2020 we propose updating the information with current sales and capitalization rate data. Following delivery of the update, our fee includes a one month period during which a qualified employee of Analytical consultants will be available via phone or onsite at the Orange County offices between the hours of 9am to 5pm (up to 10 hours per week) to answer questions or provide assistance with the general use 125 Kingston Drive Suite 206 Chapel Hill, NC 27514 Tel: 919-929-9539 Fax: 919-929-9543 DocuSign Envelope ID: 48D95A50-1183-4EB9-9997-46BD3A0D7724 DocuSign Envelope ID:48D95A50-1183-4EB9-9997-46BD3AOD7724 and application of the income data. This hourly limit does not include application of the data to specific properties or property types. The results of the analysis and supporting data will be presented to the Orange County Office of Tax Administration in electronic and paper formats. Due Date and Fee Structure: Original 2020 Mid 2020 Property Type Due Date Fee Update Update Office 9/1/2019 $10,000 7/1/2020 $2,000 Retail 10/1/2019 $10,000 7/1/2020 $2,000 Industrial 11/1/2019 $5,000 7/1/2020 $1,000 Hotel/Motel 12/1/2019 $10,000 7/1/2020 $2,000 Apartments 1/10/2020 $10,000 7/1/2020 $2,000 Other -Mobile Home Parks 1/31/2020 $5,000 7/1/2020 $1,000 -Self Storage 1/31/2020 $5,000 7/1/2020 $1,000 $55,000 $11,000 Payment Terms: The fee for the original delivery of data packages will be paid in four installments. The first payment of$18,330 is due prior to beginning work on the assignment (prior to 8/1/2019). The second payment of $18,330 is due when half of the property type reports are delivered. The third payment of$18,340 is due within 30 days of delivery of our final report detailing our results. The fee for the update will also be paid in full ($11,000) within 30 days after all of the update reports are delivered. Once the report is accepted, further work on the part of Analytical will be billed at$150 (staff) or$250 (Paul Snow) per hour. Limitation of Liability 1 Consultants Liability: Consultant's liability to County and/or anyone claiming by, through or under County shall not exceed the gross fees paid to the consultant (Analytical Consultants, Inc.) by the County pursuant to this agreement. In no event shall consultant be liable to County and/or anyone claiming by, through or under County for any indirect, special, incidental or consequential damages of any nature whatsoever. Signed: Paul L. Snow DOCUSigned W. Accep Mi SVLbAI Date: August 2, 2019 895533F1936E468. ,¢DOCUSigned by: Accep 6�t• RA*AAY5� — Date:8/12/2019 6 C86379949755E477.. DocuSign Envelope ID:48D95A50-1183-4EB9-9997-46BD3AOD7724 9 LIA Adminlstrators & Insurance Services APPRAISAL AND VALUATION ASPEN PROFESSIONAL LIABILITY INSURANCE POLICY DECLARATIONS ASPEN AMERICAN INSURANCE COMPANY (A stock insurance company herein called the "Company") 175 Capitol Blvd. Suite 100 Rocky Hill, CT 06067 Date Issued Policy Number Previous Policy Number 07/25/2018 AA1006533-04 AA1006533-03 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: 113569 Named Insured: ANALYTICAL CONSULTANTS, INC. 125 Kingston Drive Chapel Hill,NC 27514 2. Policy Period:' From: 09/09/2018 To: 09/09/2019 12:01 A.M. Standard Time at the address stated in 1 above. 3. Deductible: $5,000 Each Claim 4. Retroactive Date: 09/09/2004 5. Inception Date: 09/09/2015 6. Limits of Liability: A. $2,000,000 Each Claim B. $2,000,000 Aggregate 7. Mail all notices, including notice of Claim, to: LIA Administrators&Insurance Services 1600 Anacapa Street Santa Barbara, California 93101 (800) 334-0652; Fax: (805)962-0652 8.Annual Premium: 9. Forms attached at issue: LIA002 (12/14) LIA NC (02/16) LIA NC NOT(11/15) LIA012 (12/14) LIA013 (10/14) LIA020NC(02/16) LIA025A(11/14) LIA112 (10114) This Declarations Page, together with the completed and signed Policy Application including all attachments and exhibits thereto,and the Policy shall constitute the contract between the Named Insured and th o any. 07/25/2018 By c� Date Authorized Sighature LIA-001 (12/14) Aspen American Insurance Company DocuSign Envelope ID:48D95A50-1183-4EB9-9997-46BD3AOD7724 State Farm VEHICLE INFORMATION Review your policy information carefully. If anything is incorrect, or if there are any changes to your vehicle information, please let us know right away, Vehicle Identification Vehicle Description Number(VIN) Who principally drives this vehicle? How is this vehicle normally used? NONOWNED Not applicable. Premium Adjustment comprehensive and collision rates. If you carry Comprehensive and collision rates are based upon State comprehensive and/or collision coverages,these Farm's loss experience. This loss experience is reviewed adjustments are reflected in the rates shown on this renewal periodically to determine which makes and models have notice. earned decreases or increases from State Farm's standard COVERAGE AND LIMITS See yourpolicyforan explanation of these coverages. AB Liability Bodily Injury 1,000,00011,000,000 $164,00 Property Damage 1,000,000 Included Amount Due $164,00 Coverage AB is on a per policy basis, you the broader protection without issuing a new policy, If any coverage you carry is changed to give broader starting on the date we adopt the broader protection, protection with no additional premium charge, we will give NOTICE OF RIGHT TO PURCHASE HIGHER LIMITS OF UM/UIM NOTICE: YOU ARE REQUIRED TO PURCHASE (continued on next page) Policy Number:156 3777-CO8-33A Page number 2 of 3 Prepared August 3,2018 DocuSign Envelope ID:48D95A50-1183-4EB9-9997-46BD3A0D7724 StafeFarm WORKERS COMPENSATION AND EMPLOYERS LIABILITY POLICY INFORMATION PAGE 07- 1010-FB5D POLICY NO. 93-CV-P475-7 COVERAGE IS PROVIDED BY REPLACES NO . 93-CV-J391 -2 STATE FARM FIRE AND CASUALTY COMPANY 3 RAVINIA DRIVE , ATLANTA GA 30346-2117 NCCI CARRIER CODE NO . 14842 1 . NAMED INSURED & MAILING ADDRESS RISK ID NO . 006219515 ANALYTICAL CONSULTANTS INC FEIN 201186981 125 KINGSTON DR STE 206 LOCATION : CHAPEL HILL NC 27514- 1649 125 KINGSTON DR STE 206 CHAPEL HILL NC 27514- 1649 INSURED IS A CORPORATION COPYRIGHT 1987 NATIONAL COUNCIL ON COMPENSATION INSURANCE ------ ------- ---------------- - ------- - - - ------ - ------------ 2 . THE POLICY PERIOD IS FROM 10/01 /2018 TO 10/01 /2019 -12 : 01 A . M . STANDARD TIME AT THE INSURED' S MAILING ADDRESS . ---------- - ------ - - ------------- - -------- - - --- - - ----- -- 3A . WORKERS COMPENSATION INSURANCE : PART ONE OF THE POLICY APPLIES TO THE WORKERS COMPENSATION LAW OF THE STATES LISTED HERE : NC B . EMPLOYERS LIABILITY INSURANCE : PART TWO OF THE POLICY APPLIES TO WORK IN EACH STATE LISTED IN ITEM 3A . THE LIMITS OF OUR LIABILITY UNDER PART TWO ARE : BODILY INJURY BY ACCIDENT $ 1 , 000 , 000 EACH ACCIDENT BODILY INJURY BY DISEASE $ 1 , 000 , 000 EACH EMPLOYEE BODILY INJURY BY DISEASE $ 1 , 000 , 000 POLICY LIMIT C . OTHER STATES INSURANCE : PART THREE OF THE POLICY APPLIES TO ALL STATES EXCEPT ME , MT , ND , OH , RI , WA , WV , WY AND STATES LISTED IN 3A . D . THIS POLICY INCLUDES THESE ENDORSEMENTS AND SCHEDULES : WC320301D* WC000414 WC000419 WC000308 WC000000C WC000422B* WC000421D WC000404 WC000424 *EFFECTIVE 10/01 / 18 --------------- - - - ------ - -------- - - ----- - - ------------------------ ----- - ------ 4 . THE PREMIUM FOR THIS POLICY WILL BE DETERMINED BY OUR MANUALS OF RULES, CLASSIFICATIONS, RATES AND RATING PLANS . ALL INFORMATION REQUIRED BELOW IS SUBJECT TO VERIFICATION AND CHANGE BY AUDIT . PREMIUM BASIS TO- RATE/$ 100 ESTIMATED CODE NOS . AND TAL ESTIMATED AN- REMUNERA- ANNUAL CLASSIFICATIONS NUAL REMUNERATION TION PREMIUM - ------ -------- - - -------- - -------- - - ----- - ---------------- ----- -- -- -- - - ----- 8721 473 , 929 . 40 1 , 896 REAL ESTATE APPRAISAL COMPANIES - OUTSIDE EMPLOYEES 8810 80 , 471 . 15 121 CLERICAL OFFICE EMPLOYEES NOG EMPLOYERS LIABILITY INCREASED LIMITS 120 CATASTROPHE (OTHER THAN TERRORISM) 9741 554 , 400 . 01 55 TERRORISM 9740 554 , 400 . 01 55 MINIMUM PREMIUM $ 400 NO . CAROLINA TOTAL ESTIMATED ANNUAL PREMIUM $ 2 . 247 ------ ------------- - --------- - - ------ ------ - -------------- - - ------ - - ------- - -- PREMIUM ADJUSTMENT PERIOD SHALL BE ANNUAL DEPOSIT PREMIUM $ 2 , 247 PREPARED 08/20/2018 WC 00 00 01 A COUNTERSIGNED DocuSign Envelope ID:48D95A50-1183-4EB9-9997-46BD3AOD7724 i stateFarm STATE FARM FIRE AND CASUALTY COMPANY • A STOCK COMPANY WITH HOME OFFICES IN BLOOMINGTON, ILLINOIS DECLARATIONS ••o Aflanfa"c�A r3o346-2]17 Policy Number 93-BF-D971-7 Policy Period Effective Date Exppiration Date M-07-1010-FB5D F U 12 Months OCT 1 2018 0 T 1 2019 000sao 3123 The poli y period begins and ends at 1 2:01 am standard Named Inured time att�ie premises on. ANALYTICAL CONSULTANTS INC A ent and Mailing Address — 125 KINGSTON DR STE 206 KRIN COOKE CHAPEL HILL NC 27514-1649 200 TIMBERHILL PL UNIT 202 CHAPEL HILL NC 27514-1964 PHONE: (91.9) 918-4478 Office Policy Automatic Renewal- If the policy period is shown as 12 months,this policy will be renewed automatically subjectto the premiums,rules and forms in effectfor each succeeding policy period.If this policy is terminated,we will give you and the Mortgagee/Lienholder written notice in compliance with the policy provisions or as required by law. Entity: Corporation NOTICE: Information concerning changes in your policy language is included. Please call your agent if you have any questions. POLICY PREMIUM $ 708.00 Discounts Applied: Renewal Year Years in Business Protective Devices Sprinkler Claim Record Prepared 2018 ©Copyright.State Farm Mutual Automobile Insurance Company,2008 AUG re AUG 03 00 Includes copyrighted material of Insurance Services Office,Inc„with its permission. CMP 004647 290 1 Continued on Reverse Side of Page Page 1 of 7 E D2 R9a-RRen7 R5-2I-7R11 I.M7310 DocuSign Envelope ID:48D95A50-1183-4EB9-9997-46BD3AOD7724 vr-%,L..AnH i rwrya kt,ONTIINUED) Office Policy for ANALYTICAL CONSULTANTS INC Policy Number 93.9F-D971.7 SECTION I- PROPE TY BLANKET Limit of Insurance* Coverage A: Buildings $ 160,500 Coverage B- Business Personal Property $ 55 800 Seasonal Increase- Business Personal Property5% Location Number Location of Described Premises 001 125 KINGSTON DR STE 206C CHAPEL_ HILL NC 27514-1649 002 125 KINGSTON DR STE 205C CHAPEL HILL NC 275 1 4-1 649 w As of the effective date of this policy, the Limit of Insurance as shown includes any increase in the limit due to Inflation Coverage. SECTION I -INFLATION C VERAGE INDEX(ES) Inflation Coverage Index: 252:0 SECTION I- DEDUCTIBLES Basic Deductible $1,000 Special Deductibles: Money and Securities $250 Employee Dishonesty $260 Prepared AUG 03 2018 s0 Copyright State Farm Mutual Automobile Insurance Company,200E CMP-4000 Includes copyrighted material of Insurance Services Office,inc„with its permission. 004647 Continued on Next Page Page 2 of 7 DocuSign Envelope ID:48D95A50-1183-4EB9-9997-46BD3AOD7724 StateFarm M 4646 •�� DECLARATIONS(CONTINUED) Office Policy for ANALYTICAL_ CONSULTANTS INC Policy Number 93-13F-13971-7 Equipment Breakdown $1,000 Other deductibles may apply - refer to policy. SECTION I - EXTENSIONS OF COVERAGE- LIMIT OF INSURANCE- EACH DESCRIBED PREMISES The coverages and corresponding limits shown below apply separately to each described premises shown in these Declarations, unless indicated by"See Schedule." If a coverage does not have a corresponding limit shown below, but has"Included"Indicated, please refer to that policy provision for an explanation of that coverage. LIMIT OF COVERAGE INSURANCE Accounts Receivable On Premises See Schedule Off Premises See Schedule Arson Reward $5,000 Back-Up Of Sewer Or Drain See Schedule Collapse Included Damage To Non-Owned Buildings From Theft, Burglary Or Robbery Coverage B Limit Debris Removal 25%of covered loss Equipment Breakdown Included Fire Department Service Charge $5,000 Fire Extinguisher Systems Recharge Expense $5,000 Forgery Or Alteration $10,000 Glass Expenses Included Increased Cost Of Construction And Demolition Costs (applies only when buildings are 10% insured on a replacement cost basis) Loss Assessment $1,000 Money And Securities (Off Premises) See Schedule Money And Securities (On Premises) See Schedule Prepared 20113 ©Copyright,State Farm Mutual Automobile Insurance Company,2008 AUG re AUG 0300 Includes copyrighted material of Insurance Services Office,Inc.,with its permission. CMP004648 290 Continued on Reverse Side of Page Page 3 of 7 E DocuSign Envelope ID:48D95A50-1183-4EB9-9997-46BD3AOD7724 ULULAKA i wrvs(cVNTINUED) Office Policy for ANALYTICAL CONSULTANTS INC Policy Number 93-BF-13971-7 Money Orders And Counterfeit Money $1,000 Newly Acquired Business Personal Property(applies only if this policy provides $100,000 Coverage B- Business Personal Property) Newly Acquired Or Constructed Buildings (applies only if this policy provides $250,000 Coverage A- Buildings) Ordinance Or Law- Equipment Coverage Included Outdoor Property See Schedule Personal Effects (applies only to those premises provided Coverage B- Business $5,000 Personal Property) Personal Property Off Premises $15,000 Pollutant Clean Up And Removal $101000 Preservation Of Property 30.Days. Property Of Others (applies only to those premises provided Coverage B -Business See Schedule Personal Property) Signs See Schedule Unauthorized Business Card Use $5,000 Valuable Papers And Records On Premises See Schedule Off Premises See Schedule Water Damage, Other Liquids, Powder Or Molten Material Damage Included SECTION I- EXTENSIONS OF COVERAGE -LIMIT O�,F INSURANCE-SCHEDULE The coverages and corresponding limits shown below apply only to the described promises as shown. LIMIT OF LOCATION COVERAGE INSURANCE 0001 Accounts Receivable (On Premises) $50,000 Accounts Receivable (Off Premises) $15,000 Back-Up Of Sewer Or Drain $15,000 . Money And.Securities �On Off Premises) $5,000 Money And Securities Premises) $10,000 Outdoor Property $5,000 Prepared AUG 03 2018 ®Copyright,State Farm Mutual Automobile Insurance Company,2000 CMP-4000 Includes copyrighted material of Insurance Services Office,Inc.,with its permission. 004048 Continued on Next Page Page 4 of 7 DocuSign Envelope ID:48D95A50-1183-4EB9-9997-46BD3AOD7724 StateFarm M 4646 4 4° DECLARATIONS(CONTINUED) Office Policy for ANALYTICAL CONSULTANTS INC Policy Number 93-13F-D971-7 Property Of Others (applies only to those premises provided Coverage B - Business $2,500 Personal Property) Signs $2,500 Valuable Papers and Records (On Premises) $60,000 Valuable Papers and Records (Off Premises) $15,000 0002 Accounts Receivable (On Premises) $50,000 Accounts Receivable (Off Premises) $15,000 Back-Up Of Sewer Or Drain $15,000 Money And Securities (Off Premises) $5,000 Money And Securities (On Premises) $10,000 Outdoor Property $5,000 Property Of Others (applies only to those premises provided Coverage B - Business $2,500 Personal Property) Signs $2,500 Valuable Papers and Records (On Premises) $50,000 Valuable Papers and Records (Off Premises) $15,000 SECTION I - EXTENSIONS OF COVERAGE - LIMIT OF INSURANCE- PER POLICY The coverages and corresponding limits shown below are the most we will pay regardless of the number of described premises shown in these Declarations. LIMIT OF COVERAGE INSURANCE Dependent Property - Loss Of Income $5,000 Employee Dishonesty $10,000 Utility Interruption - Loss Of Income $10,000 Loss Of Income And Extra Expense Actual Loss Sustained - 12 Months SECTION II - LIABILITY LIMIT OF COVERAGE INSURANCE Coverage L- Business Liability $2,000,000 Prepared AUG 03 2018 ©Copyright,State Farm Mutual Automobile Insurance Company,2OD8 CMP-4000 Includes copyrighted material of Insurance Services Office,Inc.,with Its permission. 004649 290 Continued on Reverse Side of Page Page 5 of 7 E DocuSign Envelope ID:48D95A50-1183-4EB9-9997-46BD3AOD7724 DECLARATIONS(CONTINUED) Office Policy for ANALYTICAL CONSULTANTS INC Policy Number 93-SF-D971-7 Coverage M - Medical Expenses (Any One Person) $10,000 Damage To Premises Rented To You $300,000 LIMIT OF AGGREGATE LIMITS INSURANCE Products/Completed Operations Aggregate $4,000,000 General Aggregate $4,000,000 Each paid claim for liability Coverage reduces the amount of insurance we provide-during.the applicable annual period. Please refer to Section II - Liability in the Coverage Form and any attached endorsements. Your policy consists of these Declarations, the BUSINESSOWNERS COVERAGE FORM shown below, and any other forms and endorsements that apply, including those shown below as well as those issued subsequent to the issuance of this policy. FORMS AND ENDORSEMI~NTS CMP-4100 Businessowners Coverage Form CMP-4561,.1 *Policy Endorsement CMP-4705.2 *Loss of Income & Extra Expnse CMP-4819.1 *Unauthorized Business Card Use CMP-4233.1 *Amendatory Endorsement CMP-4722.1 *Business Unitowners CMP-4704.1 *Dependent Prop Loss of Income CMP-4713.1 *Excl Testing Consulting E&O CMP-4703.1 *Utility Interruption Loss Incm FE-6999.2 *Terrorism Insurance Cov Notice CMP-4706 Back-Up of Sewer or Drain CMP-4710 Employee Dishonesty CMP-4709 Money and Securities CMP-4796 Addl Insd Mortgagee Assgnee FD-6007 Inland Marine Attach Dec " New Form Attached Prepared AUG 03 2018 ©Copyright,Stata Form Mutual Automobile Insurance Company,2U08 CMP-4000 Includes copyrighted material of Insurance Services Office;Inc.,with its permission. 004649 Continued on Next Page Page 6 of 7 DocuSign Envelope ID:48D95A50-1183-4EB9-9997-46BD3AOD7724 StateFarm M 4646 • ••° DECLARATIONS(CONTINUED) Office Policy for ANALYTICAL CONSULTANTS INC Policy Number 93-13F-D971-7 SCHEDULE OF ADDITIONAL INTERESTS Interest Type: Addl Insured-Section II Endorsement#: CMP4796 Loan Number: 9512836930-0000 BB&T INSURANCE TRACKING CENTER PO BOX 20004 KENNESAW GA 301569246 This policy is issued by the State Farm Fire and Casualty Company. Participating Policy You are entitled to participate in a distribution of the earnings of the company as determined by our Board of Directors in accordance with the Company's Articles of Incorporation,as amended. In Witness Whereof,ithe State Farm Fire and Casualty Company has caused this policy to be signed by its President and Secretary at Bloomington, Illinois. *,.-ht-�� Secretary President Prepared AUG 03 2018 ©Copyright,State Farm Mutual Automobile Insurance Company,2000 CMP-4000 Includes copyrighted material of Insurance Services Office,Inc.,with its permission. 004650 290 Page 7 of 7 E