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<br />Agreement No. P13-052 <br />SAP No. 4600002935 <br />Exhibit D <br /> <br />. <br /> <br />i. an opinion on the highest and best use of the subject property, and reasoning <br />in support of the opinion in the depth and detail required by its significance to <br />the appraisal. If alternative feasible uses exist, the report should include an <br />explanation of the market, development, cash flow and risk factors leading to <br />an ultimate highest and best use; <br /> <br />j. all approaches to market value applicable to the subject market, including an <br />explanation and support for not using any usual approach to value; <br /> <br />k. maps showing comparable properties in relation to the subject property. The <br />report shall include photographs and plat maps of comparable properties. <br />The report shall discuss the comparable properties and make direct <br />comparisons to the subject property; <br /> <br />I. comparable sales data sheets, that include: grantor/grantee, sale/recordation <br />dates, financing, conditions of sale, location information, land/site <br />characteristics, improvements, other relevant information and confirming <br />source; and <br /> <br />m. a discussion of severance damages or lack thereof. <br /> <br />7. The report shall describe market conditions and trends, including identification of <br />the relevant market, a discussion of supply and demand within the market area <br />and a discussion of the relevant market factors impacting demand. <br /> <br />8. The report shall describe the characteristics of the subject property (size, <br />topography, zoning and land use, utilities, offsite improvements, access, <br />easements and restrictions, flood and earthquake information, toxic hazards, taxes <br />and assessments, and other relevant information). <br /> <br />9. In the course of the appraiser's investigation of the property and review of related <br />documents, the appraiser shall consider the results of a site assessment report. <br /> <br />10. The report shall discuss the effect of the exceptions to title on fair market value. <br /> <br />11. The report shall discuss and conclude whether there has been an implied <br />dedication of the property to the public due to the public's use of the property <br />without challenge by the owner. <br /> <br />12. The report shall include a reconciliation and final value estimate, with an <br />explanation and support for all conclusions. The report shall include any <br />departures taken in the development of the appraisal. <br /> <br />13. The report shall be prepared and include a signed certification by a California <br />licensed appraiser. <br /> <br />2 <br />