Specifications include, but are not limited to: The Company agrees to prepare and execute a complete revaluation program of all real property within the confines of the Borough of Elmwood Park as illustrated on the Property Classification Schedule, attached as Exhibit 12 of this RFP, for use by the Tax Assessor in accordance with this RFP and the associated RFP documents, all of which are annexed hereto and which form a part of this RFP. The Company agrees to provide services necessary to classify and appraise each parcel of real estate and each real property improvement which lies within the boundaries of The Borough of Elmwood Park at its fair market value according N.J.S.A. 54:4-1 et seq., Standard 6 of the Uniform Standards of Professional Appraisal Practice and the State of New Jersey Administrative Code concerning the revaluation of all real property. The Company shall prepare a separate list of tax-exempt properties indicating the full value of such property as if taxable. The Company agrees to appraise all properties using the three (3) approaches to value (Sales Comparison, Replacement Cost and Income) where applicable and to use acceptable methods, forms and manuals authorized by the New Jersey Division of Taxation. The revaluation project shall be computer generated utilizing the Microsystems Computer Aided Mass Appraisal (CAMA) and Microsystems Imaging systems in accordance with the specifications as outlined in the contractual agreement and so stated elsewhere. The Company shall send out Further Statements under the Borough’s letterhead and Tax Assessor’s signature to all Exempt Properties (Class 15A, 15B, 15C, 15D, 15E and 15F). The Company shall request the Further Statement information by Certified Mail, return receipt requested. All printing and mailing costs for these statements shall be the Company’s expense. The Company shall also prepare a separate list of tax-exempt properties indicating the full value of such property utilizing the three (3) approaches to value along with a scaled sketch of the improvements as if taxable. The Company shall acquaint the Tax Assessor and staff, if any, in the use of procedures, standards and records used in determining the assessed values in order that the assessing office will be in a position to check the work as it progresses, and apply the same to new or altered properties as required subsequent to the completion of the revaluation project. The company shall provide accurate digital photographs of all properties including: front rear and significant side view exteriors of improvements and include any interior renovations such as kitchens and baths. Photographs of exterior inground pools, cabanas and other outbuildings and amenities must also be included. Work shall commence within thirty (30) days of the effective date of the award of the contract, which commencement shall be considered a time of the essence provision of the contract. The contract shall be for a term of one (1) year commencing upon issuance of a notice to proceed. The contract may be extended, subject to the requirements under the applicable law and Municipal Governing Body approval.