Sections 14.1 & 15.2 of the Right of Way Appraisal Top Down Map

18. Conducts Technical Review of Appraisal Report Sections 14.1 & 15.2 of the Right Of Way Appraisal Top Down Map Process Explanation Process Owner: Carol Myers January 23, 2008

Process required under:  49 CFR Part 24.104  Uniform Standards of Professional Appraisal Practice (USPAP)

Step Comments Requirements 12 The 4 tests of Highest and Best Use must be developed, and they are: 1. Physically possible 2. Legally permissible 3. Financially feasible 4. Maximally productive 15 Review data sheets for:  Completeness  Did they verify?  Who did they verify with?  Directions to the property  Conditions of sale  Highest and Best Use 16 Review grid for:  Data consistency  Mathematical correctness  Analytical reasoning fully explained  Reasonable methodology  Proper sequence of adjustments  Proper mathematical rounding  Reconcile land value 17 Review data sheets for:  Completeness  Did they verify?  Who did they verify with?  Directions to the property  Conditions of sale  Highest and Best Use 18 Review grid for:  Data consistency  Mathematical correctness  Analytical reasoning fully explained  Reasonable methodology  Proper sequence of adjustments  Proper mathematical rounding  Reconcile value 19 Review Cost Approach for:  Correct building size(s)  Proper data  Proper application of cost sources  Mathematical correctness  Discussion of depreciation  Estimated value of Cost Approach Page 1 of 3 18. Conducts Technical Review of Appraisal Report Sections 14.1 & 15.2 of the Right Of Way Appraisal Top Down Map Process Explanation Process Owner: Carol Myers January 23, 2008

Step Comments Requirements 21 Review data sheets for:  Completeness  Did they verify?  Who did they verify with?  Directions to the property  Conditions of sale  Highest and Best Use 22 Review grid for:  Data consistency  Mathematical correctness  Analytical reasoning fully explained  Reasonable methodology  Proper mathematical rounding  Proper development and application of capitalization  Estimated value by income approach, if applicable 28 The 4 tests of Highest and Best Use must be developed, and they are: 1. Physically possible 2. Legally permissible 3. Financially feasible 4. Maximally productive 31 Review data sheets for:  Completeness  Did they verify?  Who did they verify with?  Directions to the property  Conditions of sale  Highest and Best Use 32 Review grid for:  Data consistency  Mathematical correctness  Analytical reasoning fully explained  Reasonable methodology  Proper sequence of adjustments  Proper mathematical rounding  Reconcile land value 33 Review data sheets for:  Completeness  Did they verify?  Who did they verify with?  Directions to the property  Conditions of sale  Highest and Best Use

of 3 18. Conducts Technical Review of Appraisal Report Sections 14.1 & 15.2 of the Right Of Way Appraisal Top Down Map Process Explanation Process Owner: Carol Myers January 23, 2008

Step Comments Requirements 34 Review grid for:  Data consistency  Mathematical correctness  Analytical reasoning fully explained  Reasonable methodology  Proper sequence of adjustments  Proper mathematical rounding  Reconcile value 35 Review Cost Approach for:  Correct building size(s)  Proper data  Proper application of cost sources  Mathematical correctness  Discussion of depreciation  Estimated value of Cost Approach 37 Review data sheets for:  Completeness  Did they verify?  Who did they verify with?  Directions to the property  Conditions of sale  Highest and Best Use 38 Review for:  Data consistency  Mathematical correctness  Analytical reasoning fully explained  Reasonable methodology  Proper mathematical rounding  Proper development and application of capitalization  Estimated value by income approach, if applicable 50 This would include building measurements

NOTE: This flow map represents a Technical Review for a Before & After Appraisal (RW-270A). Technical Reviews for other appraisals as reported on appropriate forms are a variation of this flow map.