City Council Agenda and Packet 2013 05 21 - PG 160 - ATTACHMENT #3

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PART 1 — SCOPE OF WORK Assumptions and Limiting Conditions The certification of the appraiser who developed this report is subject to the Assumptions and Limiting Conditions that are listed below: Extraordinary Assumptions Definition of Extraordinary Assumption: "An assumption, directly related to a specific assignment, as of the effective date of the assignment results, which, if found to be false, could alter the appraiser's opinions or conclusions." Comment: Extraordinary assumptions presume as fact otherwise uncertain information about physical, legal, or economic characteristics of the subject property; or about conditions external to the property, such as market conditions or trends; or about the integrity of data used in an analysis. Uniform Standards of Professional Appraisal Practice, The Appraisal Foundation, Washington DC, 2012-2013 Ed., U-3. This assignment is to estimate compensation for the proposed CDOT acquisition under the extraordinary assumption that the subject site is "clean." No information is available regarding potential environmental hazards at this property. USPAP requires disclosure that this may have affected assignment results. Hypothetical Condition Definition of Hypothetical Condition: "A condition, directly related to a specific assignment, which is contrary to what is known by the appraiser to exist on the effective date of the assignment results, but is used for the purpose of analysis." Comment: Hypothetical conditions are contrary to known facts about physical, legal, or economic characteristics of the subject property; or about conditions external to the property, such as market conditions or trends; or about the integrity of the data used in an analysis. Uniform Standards of Professional Appraisal Practice, The Appraisal Foundation, Washington DC, 2012-2013 Ed., U-3. No hypothetical conditions were adopted in this analysis. General Assumptions and limiting Conditions 1. The legal descriptions, land areas,surveying and engineering data provided by the Region are assumed to be correct. The sketches and maps in this report are included to assist the reader in visualizing the property and are not necessarily to scale. Various photographs and exhibits are included for the same purpose.Site plans are not surveys unless prepared by a separate surveyor. 2. This is a summary appraisal report, which is intended to comply with the reporting requirements set forth in Standards Rule 2-2(b)of USPAP. 4 Bonnie Roerng & Associates, L.CC Real Estate Analysts - Valuation Consultants