Township Council Meeting — Agenda

Standard Proposal For Appraisal & Consulting Assignments Introduction: There are two (2) primary types of appraisal reports available, these include the Appraisal Report and the Restricted Appraisal Report. In brief, the Appraisal Report format is a more detailed and comprehensive document. This type of appraisal report will be prepared in a manner that is consistent with the Intended Use of the appraisal. The report will provide a summary of all relevant information, analysis and data utilized in the report and specified under the Scope of Work. In addition, all information relied upon in connection with the preparation of the Appraisal Report will be retained in the appraiser's complete work file for the assignment. The Appraisal Report shall be prepared in compliance with the Uniform Standards of Professional Appraisal Practice. The Restricted Appraisal shall also be prepared in a manner which is consistent with the stated Intended Use of the report. This type of reporting format shall be limited to the client's use only. The Restricted Appraisal Report will typically contain less detail and supporting documentation relevant to the conclusions and opinions developed by the appraiser and in accordance with the Scope of Work specified. Nonetheless, all documentation relied upon by the appraiser in connection with the preparation of the Restricted Appraisal Report shall be retained in the appraiser's complete work file for the assignment. The Restricted Appraisal Report shall be prepared in compliance with the Uniform Standards of Professional Appraisal Practice (USPAP). Based on the type of property to be appraised as well as my understanding of the Purpose of the Appraisal, | shall prepare a formal narrative Appraisal Report on each of the subject properties. Scope of Work: The following represents the basic Scope of Work which shall be completed in connection with this assignment. * Physical inspection of the properties and their general neighborhood. It is acknowledged that 100 and 200 Executive Drive were recently demolished and in this regard, the appraiser shall rely upon previous inspections and/or municipal records and information. Identification of property along with the specific estate being appraised. Detailed description of each individual property and its immediate environment Review and discussion of municipal assessment, zoning,

cation of property along with the specific estate being appraised. Detailed description of each individual property and its immediate environment Review and discussion of municipal assessment, zoning, flood condition. Analysis and discussion regarding the highest and best use of the property. Discussion as to an appropriate valuation method(s) to utilize. Research and investigation of market data to be utilized in the assignment Estimate of Market Value as of the date of inspection. Preparation of Appraisal Report in narrative format and certified to the client. Submission of completed appraisal report in a pdf (electronic) format. If requested, one (1) hard copy of the report shall be provided. i T ] REAL ESTATE APPRAISALS & RESEARCH eeeeveeveee