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<br />Amencan Appraisal Associates <br /> <br />If desired, library books, radios, computer software, fine arts and historical treasures, and licensed <br />vehicles ("Special Assets") can also be incorporated into the record, based on information supplied <br />by the City, This information must be provided to A.merican Appraisal during the initial field <br />inspection to be included in the reports, We will not inspect, tag or value any of the Special Assets <br />identified by the City, <br /> <br />ENGAGEMENT METHODOLOGY <br /> <br />Land <br /> <br />Land will be included based on the data provided to us by the City, As a part of this engagement, we <br />will conduct a cursory review of the data. <br /> <br />If the data is not available or sufficient, for an additional fee of $125 per parcel, American Appraisal <br />will research City records to identify the City's owned land assets. In gathering this data, we will: <br /> <br />. <br /> <br />Research the County Assessor's databases and files to identify land owned by <br />the City; <br /> <br />. <br /> <br />Utilize data gathered from the County Assessor's office to research deed <br />information; <br /> <br />. <br /> <br />Compile a data report indicating, as available, the following items: <br /> <br />· Parcel Number <br />· Date of Sale <br />· Parcel Size <br />· Estimated Acquisition Price <br />· Street Address when available <br />· Other pertinent data such as: <br /> <br />o Any reference to existing improvements <br />o Any reference to other official records referred to 10 the deed, which may <br />provide additional information, <br /> <br />Upon completion of the identification process we will meet with you and your external auditors to <br />discuss American Appraisal's findings, At that time, we will be prepared to discuss the materiality of <br />developing the historical costs for parcels for which acquisition costs were unavailable, <br /> <br />Land Improvements <br /> <br />While inspecting site structures, we will also conduct an inventory of site / land improvements and <br />miscellaneous structures. Pertinent data regarding assets in these categories, i,e, paving, lighting, <br />fencing, park improvements, below grade data communication systems, etc, will be recorded to <br />permit assignment of value. <br /> <br />City of Sunny Isles Beach <br /> <br />5 <br /> <br />May 18, 2007 <br />25115.117 .1127 <br />