ATTACHMENT_1.docx

ATTACHMENT 1

Specifications and Scope of Work for Appraisals of Real Property for the Emergency Watershed Protection Program Floodplain Easements

(EWPP-FPE)

A. Background Information

1. The United States of America, acting through the United States Department of Agriculture, Natural Resources Conservation Service (NRCS) and [sponsor name] is considering purchasing an Emergency Watershed Protection Program (EWPP-FPE) easement to help remove threats to life and property that remain in the nation’s watersheds in the aftermath of natural disasters including, but is not limited to, floods, fires, windstorms, ice storms, hurricanes, typhoons, tornadoes, earthquakes, volcanic watershed impairments. These include, but are not limited to, debris-clogged stream channels, undermined and unstable stream banks, jeopardized water control structures and public infrastructure, wind-borne debris removal, and damaged upland sites stripped of protective vegetation by fire or drought. If these watershed impairments are not addressed, they would pose a serious threat of injury, loss of life, or devastating property damage should a subsequent event occur.

2. All appraisals completed for this program shall comply with Uniform Standards of Professional Appraisal Practice (USPAP) and these appraisal instructions as issued by NRCS.

B. Appraiser Qualifications

1. All real property appraisers performing appraisals under this program must be State-Certified General real property appraiser or obtain a temporary practice permit equal to State-certified general real property appraiser in compliance with Title XI of the Financial Institution’s Reform, Recovery and Enforcement Act of 1989 (FIRREA) in the State or States where the subject property is located.

2. Must be in good standing with the licensing authority where the credential was issued.

3. The appraiser must not have received any disciplinary action from the licensing authority within the past 5 years.

4. The appraiser must have demonstrated competency in compliance with USPAP in conducting appraisals of properties of the requested type.

5. The appraiser must have demonstrated competency in compliance with USPAP in conducting appraisals of properties with conservation easements of the requested type.

6. The appraiser must provide documentation of completion of a valuation of conservation easements or eminent domain appraisal course.

7. Documentation of the experience and education will be included in the appraisal report.

C. Purpose Of The Appraisal Report

1. The purpose of the appraisal is to provide an opinion of market value, as defined below, of the proposed easement area (improvements and land) before placement of the easement and of the after value of the proposed easement area as if the easement is in place. The difference between these two values will be the effect of the easement on the subject property, which includes the effect of the easement to the land and the value of any improvements to be removed.

2. The appraisal must also breakout the difference in the before and after value into two values: the contribution provided by the improvements to be removed and the contribution provided by the remainder of the property that will be placed under easement.

3. The date of value will be either a current date of value or the date as of the day before the occurrence of a natural disaster as instructed by NRCS or [sponsor name]. For Residential Properties the date of value is the day before the occurrence of the natural disaster.

4. The appraisal must be completed in compliance with Uniform Standards of Professional Appraisal Practice, and appraisal instructions issued by NRCS and [sponsor name]. An Appraisal Report, as discussed in USPAP Standards Rule 2-2(a), must be provided; Restricted Appraisal Reports are not acceptable. The Appraisal Report must contain the level of detail, discussion and support necessary for the client and intended users to comprehensively understand the rationale for the opinions and conclusions, including reconciliation of the data and approaches used in the appraisal. This format was formerly known as the Self-Contained reporting option, prior to the release of the 2014-2015 USPAP.

5. The market value definition that will be stated and used in developing and reporting this assignment is as follows;

a. “Market value means the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:

i. buyer and seller are typically motivated;

ii. both parties are well informed or well advised and acting in what they consider their own best interests;

iii. a reasonable time is allowed for exposure to the open market;

iv. payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto and;

v. The price represents the normal considerations for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale.

b. No other definition of market value is acceptable.

D. Information Provided By USDA/NRCS [or sponsor name] To The Appraiser:

1. Date of value:

a. Current Date

i. Date of Inspection

b. The day before the occurrence of a natural disaster

i. Required for Residential Properties

ii. Optional for Agricultural Properties with Improvements

2. Identification of improvements to be removed.

3. Aerial photograph of the subject property with the location of the proposed easement area identified, access to the easement area identified, easement boundary identified, and an estimate of the acres in the proposed easement identified.

4. Legal description of parent property.

5. Preliminary legal description of the proposed easement area (survey to be completed later);

a. Example: On attached aerial photograph, approximately 10.5 (outlined in dark ink) acres located in the NW 1/4. NW 1/4 of Section 10 T55N R20W of 5th PM.

6. Aerial photograph indicating the location and acreage of any conservation agreement, contract, or easement of any type that is associated with any part of the subject property.

7. If the easement area encompasses any cropland acreage, a copy of the completed FSA Voluntary Permanent Direct and Counter Cyclical Program (DCP) Base Acres Reduction, Form CCC-505, should be executed by the Landowner for crop base/ allotments located on the proposed easement area. The CO will identify to the appraiser whether there is any cropland acreage. The CCC-505 form will not be processed by FSA until the easement is closed. The appraiser will verify the amount of crop base to be retired or moved on the proposed easement area and if any remaining crop base exists on the easement area. Documentation of production data will be provided to NRCS by the landowner.

8. Recorded landowner’s name, address and telephone number.

9. Written permission from the landowner or an authorized representative authorizing the assigned appraiser to enter the property for appraisal purposes.

10. Specific details of any existing easements, reservations or other restriction currently encumbering the subject property as provided by the Landowner.

11. Current information as to the status of title of ownership such as copies of deeds.

12. When available, a completed Preliminary Certificate of Inspection and Possession (CPM 514.97 Exhibit B.) and the Hazardous Substance Examination Checklist (CPM 390, Exhibit G, 515.64) and any available information pertaining to the probability of existence of hazardous substances that might be found on the property to be appraised.

13. Documentation of water rights owned, including name of the irrigation company, number of shares or amount of ownership and documentation concerning irrigation wells on the property to be appraised as provided by the landowner.

14. Copy of EWPP-FPE Warranty Easement Deed.

15. A copy of the recorded written access to the easement area, if access to the easement area is not from a public road.

16. Copy of preliminary title commitment covering the proposed easement area.

E. Background For The Appraisal Report

1. Prepare two opinions of value of the subject property. One value before placement of the easement and one value after placement of the easement. The after condition will be based upon a hypothetical condition that the conservation easement is in place, any identified improvements are removed and the effects on value that may be created by the easement.

2. The appraisal must also breakout the difference in the before and after value into two values: the contribution provided by the improvements to be removed and the contribution provided by the remainder of the property that will be placed under easement.

3. Subject property is the proposed easement area as identified by NRCS or [sponsor name].

4. If irrigation rights are included in the easement area, documentation provided by NRCS will identify the volume of irrigation water rights to be retained for the subject property as necessary to ensure the function of the wetland operation and other wetland conservation values as stated in D 13 above. This volume will also be documented in the right to water uses and water rights identified as reserved to the landowner in Exhibit D attached to the Warranty Easement Deed. Irrigation water rights that are owned and used on the proposed subject property will be valued in the appraisal.

a. The appraiser will document if any portion of these irrigation water rights can be removed from the subject property or not. If the irrigation water rights can be removed from the property, the appraiser will provide a value opinion of the value of each irrigation water right. The appraiser will consider only the irrigation water rights required to be retained on the subject property as identified by NRCS.

5. Client is USDA/NRCS [or sponsor name].

6. Intended user is USDA/NRCS and any other entity identified by the client.

7. Intended use will be for USDA/NRCS and any other identified entity consideration in determining the effect on value of the conservation easement on lands entering into the Emergency Watershed Protection Program and the value of any improvements to be removed.

8. Exclusions of approaches to values, as stated in USPAP, must be strongly supported with solid reasoning.

9. Property rights to be appraised in the before will be surface rights, buildings, timber, orchards or other permanent plantings and any irrigation water rights.

a. The buildings are the ones to be removed.

b. The irrigation water rights include wells, ditches, reservoirs, ponds, and lakes that provide irrigation on the subject property and are legally permitted.

c. The value of any marketable standing timber that could be economically harvested will be considered by a timber cruise and included in any valuations.

d. Other permanent plantings that are located on the subject property will be appraised and included in any valuations.

e. Any irrigation equipment such as pivot sprinklers, moveable pipe, tow lines etc. that are located in the proposed easement area will be excluded in the before and after valuations.

10. Property rights to be appraised in the after will be surface rights, timber, orchards or other permanent plantings and any irrigation water rights and will consider the easement in place and any improvements such as buildings and structures being removed.

F. The Appraisal Report

1. Description of Work Product

a. The appraisal will meet the requirements of the Uniform Standards of Professional Appraisal Practice and appraisal instructions issued by NRCS.

b. An Appraisal Report, as discussed in USPAP Standards Rule 2-2(a), must be provided; Restricted Appraisal Reports are not acceptable. The Appraisal Report must contain the level of detail, discussion and support necessary for the client and intended users to comprehensively understand the rationale for the opinions and conclusions, including reconciliation of the data and approaches used in the appraisal. This format was formerly known as the Self-Contained reporting option, prior to the release of the 2014-2015 USPAP.

c. The Appraisal Report can consist of a Narrative Report or a Form Report, or a combination may be used. The Appraisal Report must be in compliance with Uniform Standards of Professional Appraisal Practice, and must use the following appraisal instructions guidelines as stated in these standards.

d. The contract appraiser must personally inspect the subject property and comparable sales.

e. The appraiser shall talk personally to the property owner or the owner’s agent or representative and the property owner or the owner’s agent or representative shall be given an opportunity to accompany the appraiser during his or her inspection of the subject property. The appraiser will document this discussion and if the landowner did or did not accompany the appraiser during the inspection in the appraisal report.

f. The Uniform Residential Appraisal Report (URAR) shall not be acceptable. It can be incorporated into the report to assist in valuing the residence but it cannot be used to evaluate the property and the easement affects.

g. Reports must contain a Table of Contents with page numbers and sequentially numbered pages including addenda. Reports may contain handwritten page numbers.

h. Reports shall reference all environmental documents utilized by the appraiser in completing the Appraisal. An environmental document will be required in the appraisal report as provided by NRCS, refer to D 12 above. The Appraiser is a key individual in identifying potential environmental problems that may affect the value of the subject property.

i. The appraiser will contact NRCS or [sponsor name] to resolve problems; clarify questions, Letters of Engagement (Call Orders), or other issues. Issues relating to the appraisal process will be relayed to the National Appraiser for guidance.

j. The effective date of the Appraisal Report is the date the property was personally inspected by the appraiser or the date the day before the disaster, as instructed by NRCS or [sponsor name]. For Residential properties the effective date of value is the day before the occurrence of the natural disaster.

k. The appraiser will prominently state any crop base and allotment history located in the easement that has been included in the value.

l. The appraisal report shall be in typewritten or legible ink print form and/or automated or computerized forms.

m. Only reports completed and submitted on 8½ inch by 11-inch paper or electronic format will be accepted.

n. The appraisal report shall be bound in a durable report cover with appropriate identification.

o. The Appraiser will provide two bound or one electronic copy of the initial final report to NRCS [or sponsor name] for NRCS to obtain a technical review. Once the Technical Review is completed and the appraisal report accepted, the appraiser shall provide three (3) originals and one electronic copy of the appraisal to NRCS [or sponsor name]. Reference the above instructions, including exhibits, for details on appraisal reports, appraisal forms required, and required methodology and supporting documentation.

2. Required Elements for EWPP-FPE Appraisals (Recommended Format) A. Part 1 Introduction

1. Title Page

2. Letter of transmittal

3. Table of contents

4. Appraiser’s certification

a. Follow USPAP guidelines as applicable, but include the following:

"I have made a personal inspection of the appraised property which is the subject of this report and all comparable sales used in developing the opinion of value. The date(s) of inspection was __________, and the method of inspection was ___________________.” (If more than one person signs the report, this certification must clearly specify which individuals did and which individuals did not make a personal inspection of the appraised property and sales. The contract appraiser must inspect the appraised property.)

In my opinion, as of ___(date)______, the market value of the proposed easement parcel before conveyance of the partial interest is $____________, and the market value of the proposed easement parcel after conveyance of the partial interest is $___________. The value loss attributed to the placement of the easement is $____________. The value loss attributed to the improvements to be removed is $_____________ and the value loss attributed to remainder of the property is $____________.

By: (signature) Date:

Print Name Printed Name and Professional Accreditation State Certification #

5. Summary of salient facts

6. Photographs of subject property. Provide original color photographs or high quality color copies of photographs of the appraised property. Photographs may be a separate exhibit in the addenda or included with the narrative description of the appraised property and comparable sales. Show the following information with each photograph:

a. Identify the photographed scene. Indicate direction of view, vantage point, and other pertinent information.

b. An aerial photo should be used to show the location of the photos.

c. The name of the photographer

d. The date the photograph was taken.

7. Statement of assumptions and limiting conditions.

a. All appraisal reports submitted to the NRCS for review become the property of the United States and may be used for any legal and proper purpose. Therefore, a condition that limits distribution of the report is not permitted.

b. Include a statement similar to the following in this section:

i. “I recognize that appraisal reports submitted to the NRCS for review may be used by NRCS for any legal and proper purpose.”

c. If the appraisal has been made subject to any encumbrances against the property, such as easements, that shall be stated. It is unacceptable to state that the property has been appraised as if free and clear of all encumbrances, except as stated in the body of the report; the encumbrances must be identified in this section of the report. Refer to D 16 above.

d. The property must have legal access to the easement area that provides NRCS and partners legal access to restore, maintain and monitor the purpose and function for which the easement was placed. The legal access route will be shown on a map of the subject property. If the property does not have sufficient legal access to the easement area, the appraisal should not proceed.

e. If improvements are located on the proposed easement area, the after value will include a hypothetical condition that the improvements have been removed. The after value will also include a hypothetical condition that the easement is in place. The use of any other hypothetical conditions is not permitted.

f. The use of an uninstructed assumption or hypothetical condition that results in other than “as is” market value will invalidate the appraisal. Include only factors relating to the appraisal problem. Assumptions and limiting conditions that are speculative in nature are inappropriate. Do not include limiting conditions that significantly restrict the application of the appraisal.

g. A contract appraiser cannot make an assumption or accept an instruction that is unreasonable or misleading. Client instructions shall have a sound foundation, be in writing, and included in the appraisal report.

8. Scope of the appraisal

a. This section shall fully describe the extent of investigation and analysis. The scope of work should be consistent with the intended use of the appraisal.

b. Summarize the appraisal problem

9. Purpose of the appraisal will be as stated in C above.

B. Part 2 Factual Data

1. Legal description

2. Area, city and neighborhood data

3. Property data

a. Site

b. Dwellings and associated improvements

c. Fixtures, livestock, and forage production structures and facilities

d. Use history

e. Sales history Include a 3-year record of all sales of the appraised property and, if the information is available, offers to buy or sell.

f. Rental history A 3-year rental history is required. An unsupported statement that the rent does not represent market or economic rent is unacceptable.

g. Assessed value and annual tax load

h. Zoning and other land use regulations The contract appraiser shall identify, in addition to zoning, all other land-use and environmental regulations, outstanding rights, and reservations that have an impact on the highest and best use and value of the property.

i. Appraised property map or plat. Show the dimensions and topography of the appraised property in detail on a large-scale topographic map, at least 2 inches to the mile. The map may be placed here or in the addenda.

j. Aerial photograph of the subject property with the location of the proposed easement area identified, access to the easement area identified, easement boundary identified, and an estimate of the acres in the proposed easement identified

C. Part 3 Data Analysis and Conclusions before Acquisition

1. Analyses of highest and best use

a. For this appraisal highest and best use is defined as “The highest and most profitable use for which the property is adaptable and needed or likely to be needed in the reasonably near future.” The contract appraiser may also refer to definitions as found in “The Dictionary of Real Estate Appraisal.”

b. The highest and best use conclusion must be clearly supported by market evidence. Sale or exchange to the United States or other public entity is not an acceptable highest and best use. The use for which the Federal Government will put the property after it has been acquired is, as a general rule, an improper highest and best use. A non-economic highest and best use, such as “conservation,” “natural lands,” “preservation,” or any use that requires the property to be withheld from economic production in perpetuity, is not a valid use upon which to base an estimate of market value.

c. If the highest and best use is for assemblage, describe and explain the relationship of the appraised property to the property to which it would be joined.

d. If speculation or investment is the highest and best use of the property, describe and explain its interim and most probable ultimate use.

e. When there is a claim that the highest and best use of a property is something other than the property’s existing use, the burden of proof is on the contract appraiser.

f. Market value cannot be predicated upon potential uses that are speculative and conjectural.

g. The contract appraiser's opinion of a reasonable probability of a zoning change must have a factual foundation. The appraisal report shall include a description of the investigation undertaken to determine the probability of rezoning. The investigation shall include thorough research of the use(s) and zoning of properties situated similarly to the subject property within the area covered by the zoning authority. The stated rezoning conclusion shall be supported by facts surfaced in the research. A property cannot be valued as if it were already rezoned for a different use. The property must be valued only in light of the probability of obtaining a zoning change.

2. Value estimate by the cost approach

a. Estimate the value of the land as though vacant and available for its highest and best use. Estimating land value by the use of confirmed sales of comparable, or nearly comparable, lands having like optimum uses is the preferred method.

b. If the cost approach is not used, explain the reasons for not developing.

3. Value estimate by the sales comparison approach

a. Nearby arm’s length transactions, comparable to the property under appraisement, and reasonably current, are the best evidence of market value. The Federal courts recognize the sales comparison approach as being normally the best evidence of market value.

b. When supportable by market evidence, the use of quantified adjustments is preferred. Percentage and dollar adjustments may, and often should, be combined. Qualitative adjustments are used when there is inadequate market data to support quantitative adjustments. Factors that cannot be quantified are dealt with in qualitative analysis. When quantitative and qualitative adjustments are both used in the adjustment process, all quantitative adjustments should be made first.

c. Provide market evidence and/or supporting narrative for each adjustment used.

i. Each Quantitative adjustment requires supporting market evidence. Explain how the adjustment was determined and how it is applied to the comparable.

ii. Each Qualitative adjustment requires significant discussion to explain why it is necessary and explain the reason for the differences.

d. Include a sales adjustment chart summarizing the adjustments and showing the final adjusted sale prices and how the sales compare with the subject property.

e. The documentation of each comparable sale shall include:

i. Parties to the transaction

ii. Date of transaction

iii. Confirmation of the transaction

iv. Confirm the transaction with the buyer, seller, broker, or other person having knowledge of the price, terms, and conditions of sale.

v. Buyer motivation

vi. Location

vii. Size

viii. Legal description

ix. Property rights conveyed and by what method did title transfer such as warranty deed, purchase contract

x. Consideration

xi. Financing terms

xii. Sale conditions - Verify if the sale was an arm’s length or distressed sale.

xiii. Improvements

xiv. Physical description

1. Describe topography, vegetative cover, water influence, improvements, irrigation water, soils and other characteristics.

xv. Non-realty items

xvi. Economic characteristics

xvii. Zoning

xviii. Current use

xix. Topographic map

xx. Photographs

1. Improvements

2. Land/Lot

f. In order to make meaningful comparisons between the sales and the appraised property, NRCS requires inspection of all sales directly compared with the appraised property. Waiver of the comparable sale inspection requirement must be made in writing by an authorized official in the form of a supplemental appraisal instruction. There shall be no waiver of the requirement for inspection of the appraised property.

g. If the sales comparison approach is not used, explain the reasons for not developing.

4. Value estimate by the income approach

a. All data shall be market supported.

b. If the income approach is not used, explain the reasons for not developing.

5. Correlation and final estimate

a. The contract appraiser must avoid making a summation appraisal.

b. Appraisers are responsible for the final opinion of value even if it relies upon estimates developed by others (such as, timber cruisers, or cost estimators). Value estimates developed by others, if needed will be the appraiser’s responsibility.

D. Part 4 Data Analysis and Conclusions after Acquisition (see section C for detailed explanations)

1. Analysis of highest and best use

2. Land valuation

3. Value estimate by cost approach

4. Value estimate by sales comparison approach

5. Value estimate by income capitalization approach

6. Correlation and final value estimate

E. Part 5 Acquisition Analysis

1. Recapitulation

a. Show the difference between the value of the before property and the value of the after property.

b. When improvements are to be removed, breakout this difference in value into two values: the contribution provided by the dwelling and improvements to be removed and the contribution provided by the remainder of the property that will be placed under easement.

F. Part 6 Exhibits and addenda

1. Location map

a. Maps shall clearly identify the property and be of sufficient quality to enable the review appraiser to locate the property on the ground. Maps shall be dated, include a legend, scale, and north arrow.

i. Area Map. This is a small-scale map showing the general location of the subject market area.

ii. Neighborhood Map. This map shows the appraised property and its immediate neighborhood.

iii. Tract Map or Plat. This map is a large-scale (2-inch/mile) United States Geological Survey (USGS) or similar quality map that shows the appraised property and pertinent physical features such as roads, streams, and improvements. If portions of the appraised property are assigned separate contributory values to the whole, these areas shall be delineated on this map, or a separate map.

iv. Photograph Map. This is a map, lot plat or aerial photograph showing the location of the subject pictures

2. Comparable data maps

a. This map shall show the location of the appraised property and the sales. Delineate the boundaries of the appraised properties and comparable sales when the map is of sufficient scale to be meaningful. If all pertinent comparable sales cannot be shown on the same map as the appraised property, a smaller-scale map (such as a state road map) may be included in addition to the larger scale map.

3. Detail of comparative data

a. Include a completed form showing all information for each comparable transaction used in the appraisal. Include a plat (if available), a USGS topographic map (if appropriate), and color photo(s) of each sale. The transaction number must match the number of the transaction listed in the report.

4. Plot plan

5. Title evidence report

a. Include a copy of the preliminary title report for the non-Federal land if available.

6. Other pertinent exhibits

a. Present additional data such as documents and charts pertinent to the valuation and referred to in the body of the appraisal. Exhibits may include:

i. A copy of the Warranty Easement Deed.

ii. A copy of technical reports from specialists. This may include a timber cruise summary signed by a timber cruiser, or a road plan signed by an engineer.

iii. Property owner permission to appraise.

7. Qualifications of appraiser

a. The contract appraisers must provide evidence of compliance with the certification requirements of the State or States where the properties are located.

b. The contract appraisers must provide documentation of compliance with experience requirements.

c. The contract appraisers must provide documentation of meeting the education requirements

d. Engagement instructions received from the client.

G. Appraisal Reviews

1. All appraisal reports are subject to a technical appraisal review conducted for compliance with NRCS appraisal instructions and USPAP prior to acceptance by NRCS.

2. NRCS will order the technical appraisal review.

3. Any deficiencies in the appraisal report will be returned to the appraiser for revisions, additional support, or explanation, and or corrections to the original appraisal report in a supplemental report format as in Section H, below.

4. All revisions will be subject to a technical review for compliance with the original and subsequent instructions.

5. Any appraisal report revisions required by the Technical Reviewer shall be completed and returned within 14 calendar days after receipt of comments.

6. Supplemental appraisal reports will be submitted by NRCS to the technical reviewer no more than three (3) times. If, after the third submission, the report is still found to be unacceptable, the report will be rejected and/or disapproved. The review appraiser will clearly show why the appraisal report is inadequate.

H. Format for Supplemental Appraisal Reports

1. Supplements or amendments to appraisal reports, such as correcting deficiencies in the appraisal report, revisions, additional support or explanation, changes in acreage, change in value, updating the effective date or title conditions shall be referenced for incorporation with the original report in accordance with USPAP and is required in the following format. All items must be addressed.

a. Title Page

i. Include the same information as on the original appraisal report. Label the report as a “Supplemental Appraisal Report to the Appraisal Report for___________________________.”

b. Summary of Facts Include:

i. owner's name or other identification of the property,

ii. size,

iii. highest and best use,

iv. new opinion of value,

v. valuation date

a. Effective date of the original report or

b. The date of the new inspection for updating the effective date

c. Summary of Original Appraisal.

i. Cite the date and value opinion from the original appraisal. If previous updates have been made since the original appraisal, cite value opinions from all updates as well as the original appraisal.

d. Changes.

i. Explain the reason for the appraisal supplement; such as, to update an opinion of value based upon changes in acres do to survey, amend a previous appraisal report, add additional support or explanation, or other reasons.

e. Revised Opinion of Value.

i. Revised opinions of value will be made as of the effective date of the original appraisal only. Discuss the method used to revise the opinion of value and cite the evidence and/or analysis of trends that support the revised value opinion. Conclude with a statement of the revised opinion of value and the original valuation date, followed by the contract appraiser's signature.

f. Certification.

i. Follow USPAP guidelines as applicable, but include the following:

"I have made a personal inspection of the appraised property which is the subject of this report and all comparable sales used in developing the opinion of value. The date(s) of inspection was __________, and the method of inspection was ___________________.” (If more than one person signs the report, this certification must clearly specify which individuals did and which individuals did not make a personal inspection of the appraised property and sales. The contract appraiser must inspect the appraised property.)

In my opinion, as of ___(date)______, the market value of the proposed easement parcel before conveyance of the partial interest is $____________, and the market value of the proposed easement parcel after conveyance of the partial interest is $___________. The value loss attributed to the placement of the easement is $____________. The value loss attributed to the improvements to be removed is $_____________ and the amount attributed to the remainder of the property is $____________.

By: (signature) Date:____ Print Name Printed Name and Professional Accreditation State Certification #

g. Addenda.

i. Include sales data detail for new sales cited, summaries of data and trend analyses, maps of sales analyzed, and any other information relied upon but not included in the text.

h. Binding.

i. If the Supplemental Appraisal Report comprises more than four pages, it shall be bound in a durable report cover with appropriate identification.

i. Electronic Copy.

i. An electronic copy of the Supplemental Report will be provided along with the hardcopy.