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g. The limiting conditions of the appraisal, which may include assumptions
<br /> (1) that the title is good and marketable, (2) that no responsibility
<br /> is assumed by the APPRAISER for legal matters, especially those affecting
<br /> the title to the property, (3) that the legal description of the property
<br /> 091 and the interest therein to be appraised, furnished to the APPRAISER
<br /> by the COUNTY, is correct, and (4) that no survey of the property has
<br /> been made. Any other appropriate assumption or limiting condition may
<br /> be added if it has been specifically approved in writing by the COUNTY.
<br /> h. The certifications of the APPRAISER (1) that he personally made a
<br /> thorough inspection of the property, (2) that, to the best of his
<br /> knowledge and belief, everything contained in the report is true and
<br /> no relevant and important fact has been omitted, (3) that neither his
<br /> employment nor his compensation is contingent on the valuation reported,
<br /> and (4) that he has no past, present, or prospective interest (including
<br /> that of real estate agent or broker) in the property, the parties
<br /> involved, or any other interest that would conflict in any way with
<br /> services performed or the making of an impartial report.
<br /> i. A certification that, in the APPRAISER'S opinion, the fair market value
<br /> of the property is (an amount to be stated) as of (the date of valuation
<br /> determined in accordance with SECTION II 3 of this agreement).
<br /> j. The signature of the APPRAISER.
<br /> 2. Ownership. The name and address of the owner of the property and the
<br /> name and the address, if known of any other party known or beleived to hold a
<br /> separate compensable interest in the property. For any party listed as holding
<br /> a separate compensable interest in the property, furnish a description of the
<br /> interest when providing the property delineation in accordance with SECTION IV
<br /> of this agreement.
<br /> 3. Delineation of Property. The street address of the property and an
<br /> accurate legal description of the real property and the interest therein appraised.
<br /> The property description shall identify all conditions, restrictions, easements,
<br /> servitudes, and reservations affecting the title, but not mortgages, special
<br /> assessment levies, or other liens securing the payment of indebtedness or claims
<br /> against the owner. The property delineation shall specifically exclude and
<br /> describe any separately held interest in the real property, which under the
<br /> definition of "parcel" in SECTION I of this agreement is to be appraised and
<br /> acquired either separately or as an appurtenance of another parcel to be acquired.
<br /> The description shall also specifically exclude all separately held interests
<br /> which are not acquired and will not be affected adversely by the COUNTY'S project.
<br /> If there are any separately held interests in a parcel, such as leaseholds,
<br /> tenant-owned improvements, life estates, easements, and water gas, oil, or mineral
<br /> rights, furnish a description of each separate interest comprising part of the
<br /> property appraised and the name of its-owner.
<br /> 4. Off-Record Title Information. Information with respect to outstanding
<br /> interests or instruments affecting the title, but not of record, such as leases,
<br /> contracts of sale, and other interests or rights of parties in possession. Such
<br /> information shall be reported, and if the facts obtainable by inquiry and
<br /> inspection are sufficient, the APPRAISER'S report shall be based on such additional
<br /> title information and so noted in the appraisal report. Otherwise, the APPRAISER
<br /> shall refer the matter to the COUNTY and defer completion of the appraisal until
<br /> the question is resolved.
<br /> 5. Inventory of Improvements. An inventory identifying each building,
<br /> structure, or other improvement, including movable and immovable building equipment
<br /> and other fixtures considered to be part of the real property. For the purpose
<br /> of delimiting the real property improvements, any building, structure, fixture,
<br /> or other improvement, which would be real property if owned by the owner of the
<br /> land, shall be considered to be real property notwithstanding the right or
<br /> obligation of a tenant, as against the owner of any other interest in the real
<br /> property, to remove such building, structure, fixture or other improvement, at
<br /> the expiration of his term. The ownership of any improvement by anyone other
<br /> than the land owner shall be identified on the inventory. In the case of a
<br /> commercial, industrial, institutional, governmental, or farm property involving
<br /> substantial quantities and kinds of fixtures, such as machinery and equipment,
<br /> a property analysis shall be made in accordance with Paragraph 4.6 hereof. The
<br /> property analysis shall be submitted to, and be approved by the COUNTY before
<br /> completing the appraisal and, as approved by the COUNTY, shall be included as
<br /> an exhibit in the APPRAISER'S report.
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