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proceeds from its sale. <br />Purchase and installation of "substitute" personal property. This payment is made with an <br />item of personal property is not moved but is promptly replaced with a substitute item that <br />performs a comparable function at the replacement site. Payment is limited to the lesser of: <br />(1) The estimated cost of moving and reinstalling the item; or <br />(2) The actual cost of the substitute item delivered and installed at the replacement <br />location, less any proceeds from the sale or trade -in of the replaced item <br />When a payment for "actual direct loss of personal property" or "substitute personal <br />property" is made for an item, the estimated cost of moving the item will be based on the <br />lowest acceptable bid or estimate obtained by Paragon. If not sold or traded in, you must <br />transfer ownership of the item to the City in order to receive the payment. It is important that <br />you discuss your plans with Paragon before you proceed. <br />Searching for a replacement location. This payment may not exceed $1,000 and covers <br />costs for your transportation expenses, time spent searching for a replacement location, <br />reasonable fees paid to a real estate agent or broker to find a replacement location (not fees <br />related to the purchase of the site), and meals and lodging away from home, if required. <br />Paragon will explain all eligible moving and related costs, as well as those that are not eligible. You <br />must be able to account for all costs that you incur, so keep all your receipts. Paragon will inform <br />you of the documentation needed to support your claim. <br />You may minimize the amount of documentation needed to support your claim, if you elect to "self - <br />move" your personal property. Payment for a self -move is based on the amount of an acceptable <br />low bid or estimate obtained by Paragon. If you self -move, you may move your personal property <br />using your own employees and equipment or a commercial mover. <br />You may elect to pay your moving costs yourself and be repaid by the City or, if you prefer, you <br />may have the City pay the mover directly. In either case, select your mover with care. Paragon can <br />help you select a reliable and reputable mover. <br />Keep Paragon informed about your moving plans. You must provide Paragon with reasonable <br />advance written notice of the date of the start of your move or disposition of your personal property. <br />In addition, you must permit Paragon to make reasonable and timely inspections of the personal <br />property at the old and new locations and to monitor the move. <br />What is a Payment for Reestablishment Expenses? <br />If you choose to receive a payment for your actual moving and related expenses, you may also be <br />eligible to receive a payment for Reestablishment Expenses, not to exceed $10,000. Such <br />expenses include the reasonable and necessary cost o£ <br />Repairs or improvements to the replacement real property as required by Federal, State or <br />local low, code or ordinance. <br />36 <br />55D -43 <br />