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<br /> so that the amount apportioned to each tenant for his interest in the
<br /> real oroper`y will be the greatest of (1', the `air market value of the
<br /> tenant's 'leasehold interest in tne property, '2) the amount which the
<br /> tenant's property contributes to the fair market value of the property
<br /> as a •vnole, or :3) the fair market vale of tne tenant's improvements
<br /> for removal from the property. The appraisal report shall state the
<br /> basis for the valuation of each tenant's interest and furnish the date
<br /> and analyses on which such valuation was made.
<br /> d, Owner-Occupant in a Multi-famil or ;fixed Use Prooert' . If the property
<br /> is a multi-family or mixed-use residential and non-residential) property
<br /> and the owner of a compensable interest therein, as defined in the next
<br /> sentence, occupies a dwelling in the property, the APPRAISER shall
<br /> furnish an apportionment of his estimate of the fair market value of the
<br /> whole property to such dwelling or to each such owner occupied dwelling
<br /> if more than one, and to the remainder of the property. For the purpose
<br /> • of this paragraph, an occupant of a dwelling shall be Considered to own
<br /> a compensable interest in the property if he holds fee title, a life
<br /> estate, a 99-year lease, or a lease with not less than 50 /ears to run
<br /> from the date of valuation, or holds an interest in a cooperative housing
<br /> project which includes the right of occupancy of a dwelling unit therein,
<br /> or is the contract purchaser of any of the foregoing estates or interests,
<br /> or has a leasehold interest with option to purchase. The APPRAISER'S
<br /> report shall explain how he made the apportionment and the rationale
<br /> therefore.
<br /> 13. Machinery: Equipment and/or Fixtures. If machinery, equipment and/or
<br /> fixtures used in a trade, business, farm operation, institutional or
<br /> governmental function constitute part of the real property, the appraisal
<br /> report shall contain a separate schedule which provides separate estimates
<br /> for each sucn item, as prescribed below. If there is more than one owner
<br /> of such beafurnishednonheachoitemcare owner.
<br /> as
<br /> follows:
<br /> (1) Description of the item, including, as appropriate, the manufacturer,
<br /> model and serial number, size or capacity, age and condition, and
<br /> degree of obsolescence. Accessories and spare parts, special foundations,
<br /> and power wiring and process piping generally shall be listed separately,
<br /> following the listing of the item(s) to which they apply,
<br /> (2) Estimate of the replacement cost installed of the item as listed and
<br /> identified excluding any elements listen separately). Separately
<br /> identify the basis of estimated replacement cost (new or used).
<br /> (3) The contributive (enhancement) value of the item to the fair market value
<br /> of the real property as a whole,
<br /> ;4) Estimated fair market value of the item for removal from the property
<br /> at a purchaser's expense. Such value shall be considered to be the
<br /> probable selling price if the item were offered for sale for removal r
<br /> from the property at the purchaser's expense, allowing a reasonable time
<br /> to find a purchaser buying with knowledge of the uses ano purposes for
<br /> enich it is adaptaole and capable of oeirg used, including salvage for
<br /> serviceeole components and scrap +nen it appears :hat will proviae the
<br /> hignest value.
<br /> The schedule(s) of estimates shall oe consistent, with theEproperrt� , r,-�
<br /> analysis approved by the COUNTY, as Provided. The
<br /> to use the services of such technical specialists as may be needed to
<br /> enable the APPRAISER to orovide valid estimates and sound raivations.
<br /> The scneauie(s, snail 3e supported by an explanation of the procedures
<br /> followea in gathering the necessary market information and technical
<br /> data. The principle purpose of the APPRAISER'S accompanying narrati /e,
<br /> however, must 3e to explain his analyses and nis evaluations of the
<br /> dollar amount of the overall contribution of the machinery, equipment,
<br /> and fixtures to the 'air market raiue of ene real property as a eho e.
<br /> The report ;hail tbntain any layout plans, ;ketones, or anotograpns
<br /> that are restrict-ions, .mineral rights, leases, and any mown, but
<br /> jnrecorded, interests of atner parties. Sufficient '.nformation snail
<br /> oe f.1rni:nea to oisclOSe the 3rooabie effect of such outstanding 'nteres_s
<br /> on the title of the recoro owner
<br />
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