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The fair market value may be based upon a current appraisal submitted to the city at the <br /> developer's expense. The appraisal shall be made by appraisers who are approved <br /> members of the SREA or MAI, or equivalent real estate appraisal societies. <br /> If the city disputes such appraisal the city may, at the developer's expense, obtain an <br /> appraisal of the property by qualifies real estate appraiser, which appraisal shall be <br /> conclusive evidence of the market value of the land. <br /> If the city receives written notice of a dispute over the parkland dedication fee before <br /> approval of the final plat, the developer shall pay the fee into an escrow account pending <br /> a decision of an appeal of the fee. [fan appeal is not filed within 60 days following <br /> approval of the final plat, or if the person aggrieved by the fee does not prevail on the <br /> appeal, then the funds paid into escrow must be transferred to the city. <br /> SECTION 2. Severability. In the event that a court of competent jurisdiction adjudges <br /> any part of this Ordinance to be invalid, such judgment shall not affect any other <br /> provision of this Ordinance not specifically included with that judgment. <br /> SECTION 3. Effective Date. This amendment shall take effect upon its passage and <br /> publication. <br /> ADOPTED BY THE HUGO CITY COUNCIL ON <br /> Fran Miron, Mayor <br /> ATTEST: <br /> Michele Lindau, City Clerk <br />