Dept/ Agency: Finance Action: (X) Ratifying (X ) Authorizing (X ) Amending Type of Service: Professional Service Contract Purpose: Amend Resolution to Extend the Period of the Contract to Complete the Revaluation of all Real Property Located in the City of Newark Entity Name: Appraisal Systems, Inc. Entity Address: 8 Catano Avenue, Morristown, New Jersey 07960 Contract Amount: $3,996,000.00 Funding Source: City of Newark Budget/Finance Department Contract Period: January 15, 2012 - December 31, 2012 Contract Basis: ( ) Bid ( ) State Vendor (X ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a Additional Information: No additional funding is required Resolution 7R5-A 060210, authorized contract for city-wide revaluation. Resolution 7R5-D 110410, amended contract to include State recommendations..