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<br />· The basic data book and project appraisals will be developed and reported <br />according to the requirements of the 2006 edition of the Uniform Standards of <br />Professional Appraisal Practice (USPAP), the North Dakota Department of <br />Transportation Right of Way Manual, and the Uniform Act, (49 CFR 24.104), <br />which will serve as a guide for appraisal development and reporting, The basic <br />data book will contain all pertinent discussions of the relevant markets as well as <br />all pertinent market data, applicable to the project appraisals. When a conflict <br />between the Uniform Act and the Uniform Standards of Professional Appraisal <br />Practice (USPAP) is identified, the Uniform Act will apply. The project appraisal <br />reports and basic data book will be consistent with the Appraisal Institute's Code <br />of Professional Ethics reporting and development standards. <br /> <br />· The purpose of this project appraisal is to develop an opinion of fee simple <br />market value of the project parcels, in both the before condition and after <br />condition. The definition of market value used is that found in the NDCC 24, <br />Highways Bridges and Ferries. <br /> <br />· The appraiser will offer the property the right of accompaniment on physical <br />inspection and the right to voice opinions regarding the project. <br /> <br />· The appraiser will conduct an adequate investigation to make a larger parcel <br />determination for each of the project properties. The appraiser will promptly <br />notify SRF if the larger parcel is different from that identified in the Title Report <br />supplied to the appraiser via SRF. <br /> <br />· The appraiser will define the intended use and intended user, as well as the <br />appraisal problem relating to the acquisition in each of the project parcels. <br /> <br />· The appraiser will conduct a walk-through inspection of the individual project <br />properties when so required, measuring all building improvements and observing <br />the condition of each. <br /> <br />· The appraiser will inspect, investigate and reconcile subject neighborhood data. <br /> <br />· The site, site improvements (if any) and building improvements (if any) will be <br />described noting the property type, special features, deficiencies, super <br />adequacies and other relevant data that affect marketability, in as is condition, <br /> <br />· The appraiser will investigate, analyze, reconcile, and report the current zoning of <br />the individual project properties, conformities, non-conformities. <br /> <br />· The appraiser will complete an exterior inspection and photograph all <br />comparable market data. <br /> <br />· The appraiser will develop and analyze a supported opinion of highest and best <br />use, justified by the four tests. A detailed market investigation may be necessary <br />if the highest and best use of the property is not readily apparent or if the site's <br />present use is different that its highest and best use as improved. <br /> <br />Page 2 of4 <br />