Reso 2026-3963 - Laserfiche WebLink

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ASSUMPTIONS AND LIMITING CONDITIONS (Continued) 12) The distribution, if any, of the total valuation of this report between land and improvements applies only under the stated program of utilization. The separate allocations for land and buildings must not be used in conjunction with any other appraisal and are invalid if so used. 13) Possession of this report, or a copy thereof, does not carry with it the right of publication. It may not be used for any purpose by any person other than the party to whom it is addressed without the written consent of the appraiser, and in any event only with proper written qualification and only in its entirety. 14) The appraiser herein by reason of this appraisal is not required to give further consultation, testimony, or be in attendance in court with reference to the property in question unless arrangements have been previously made. 15) Neither all nor any part of the contents of this report (especially any conclusions as to value, the identity of the appraiser, or any reference to the MAI or SREA designations) shall be disseminated to the public through advertising, public relations, news, sales, or other media without the prior written consent and approval of the appraiser. 16) The existence of potentially hazardous material used in the construction or maintenance of the building and/or the existence of toxic waste which may or may not be present on or under the site was not observed during our inspection. However, we are not qualified to detect such substances. These substances, if they exist, could have a negative effect on the estimated value of the property. The user of this report is urged to retain an expert in this field if desired. 17) Unless specifically stated to the contrary in the report, no independent evaluation of concurrency matters were made for the subject or any sales comparables. In the event concurrency is found to affect subject property or any of the sales comparables, we reserve the right to reconsider the value conclusion. 18) This appraisal was not based on a requested minimum valuation, a specific valuation, or the approval of a loan. 19) Zoning and Legal Officials with the City of Sunny Isles Beach previously established parameters with regard to the selection of comparable sales. These parameters preclude the Appraiser from going outside the City limits to search for comparable land sales. This is mainly due to the City's allowance for higher FAR's and building heights when compared to other oceanfront communities. Because of the parameters enforced by City officials the limit the scope of work and appraisal process, and the limitation of comparable sales activity, the conclusion should not, and has not been, considered market value, as typically defined. The conclusion is the most probable price paid by a developer for TDR's in Greater Sunny Isles Beach and should not be misconstrued as market supported value. 582