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Work Plan Each appraisal request is unique, but most require the standard appraisal methodology established by the Appraisal Institute. Regulations and guidelines for the preparation of appraisal reports will be followed. Each report will be: • Written by an appraiser that is licensed and certified as required by the State of California; • Made in compliance with Uniform Standards of Professional Appraisal Practice, The Code of Professional Ethics, the Standards of Professional Practice of the Appraisal Institute, Eminent Domain Laws, State and Federal Uniform Relocation Assistance and Real Property Acquisition Policies, Caltrans Right of Way Manual Chapter 7, and any other appropriate regulations as applicable; • Completed with Appraisal Summary Statement with attachments that conform to the requirements of California Government Code, Section 7267.2; and • Completed with a description of all real property items, pertinent property data, date of value, discussions of highest and best use, narrative explanation of approaches to value, summary and tabulation of market data, analysis of market data, and conclusions of value, including severance damages and benefits, if applicable. All assignments will be completed under a comprehensive internal project management framework which ensures the highest quality analysis, client communication, and on time delivery. All assignments are reviewed by the principal throughout the project to ensure appropriate valuation practices. We will maintain work files with all information gathered during the assignment and will submit them to the City on request. The generic framework for appraisals is as follows: • Receipt of authorization • Review of scope of work by principal and appraiser • Review of material received by the principal and appraiser • Clarification of any questions with client by principal and appraiser • Letter of Intent to Appraise by principal and appraiser • Collection of market data by principal and appraiser • Inspection of the subject property by principal and appraiser Page 8