DESMOND, MARCELLO & AMSTER LLC. (DMA) 5-2015

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marketing, competition, and industry, as well as an understanding of recent financial trends and outlook; • Site and area inspections of both the subject location and the business' relocation site, if applicable; • Review of leases and other contracts pertinent to the business' operations; • Coordination with other professionals, such as fixtures and equipment appraisers, real estate appraisers, and relocation consultants, to avoid duplication of compensation; • Independent research in the business' industry and the economic factors affecting the business; • Research into the marketplace for sales of businesses similar to the subject; • Investigation of the impact of the taking and/or of relocation, if applicable, on the business' revenues and profits in the "after" condition; • Implementation of valuation methods, such as the Income Approach and Market Approach, to determine the value of the business' goodwill in both the before condition and in the after condition; • Preparation of valuation report; and • Any required meetings or conferences with the client regarding appraisal questions. Timeline Budgetary estimates can generally be completed within 20 to 30 days. The schedule for completion of a business goodwill appraisal can vary widely depending upon the complexity of the business appraised and the degree of cooperation from the business' ownership. It is our experience that, assuming full and timely cooperation from all parties, an appraisal can be completed within 45 days of a client's authorization to proceed. DM&A actively communicates project status with clients via email, conference calls, or any other means preferred by the client. To the extent any data or information necessary for an appraisal is not forthcoming, we will notify Agency officials in a timely manner such that steps can be taken to obtain the necessary data.