Professional Services Agreement - DLZ Indiana LLC - Bendix Drive Right of Way Acquisition

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Version 6-8-2017 a. The Appraiser shall be a certified Appraiser in the State of Indiana and on INDOT's Approved Appraisers list. The same individual will be precluded from completing the Appraisal and Appraisal Review on the same parcel per INDOT standards. b. No work by the Appraiser shall be sublet, assigned or otherwise performed by anyone other than the Appraiser. C. The Appraiser shall examine the plans for this project and review in the field the various parcels assigned. d. The Appraiser shall give the owner of each parcel to be appraised the opportunity to accompany the Appraiser during the inspection of the parcel except for Appraisal activities excluded from this requirement in accordance with WDOT and FHWA procedures. e. The appraisals shall be sufficiently documented to meet the minimum standards set out in the Indiana Department of Transportation's Appraisal Manual as approved by the Federal Highway Administration. The Appraiser shall follow accepted principles and techniques in evaluation of real property in accordance with State Laws. Any appraisal that does not meet such requirements shall be further documented or re- appraised as the case may be without additional compensation to the Appraiser. f. The Appraiser shall document current sales data in the vicinity of the Project necessary to establish market value. Each comparable property shall be identified by photograph and shall be located on county or township maps which shall be included as part of the valuation. g. The Appraiser shall not give consideration to nor include in the appraisal any allowance for relocation assistance benefits, if applicable. h. When an entire property is to be acquired, the estimate of just compensation shall be the fair market value of the property. Where only a part of a property is to be acquired, the estimate of just compensation shall be that amount arrived at in accordance with the laws governing just compensation applicable to the acquiring agency, including those laws governing compensable and non-compensable items and the treatment of general and special benefits. For either whole or partial acquisitions, the appraisal report shall document what in the appraiser's judgment is a reasonable allocation of the "before value" to the various land, building and other improvement components. For partial acquisitions, the appraisal report shall further show a similar allocation of the "after value". i. In estimating market value for the acquisition of real property, appraisal reports shall, to the greatest extent practicable under state law, disregard any decrease or increase in the fair market value of the real property prior to the date of valuation caused by the public improvement for which such property is acquired, or by the likelihood that the property would be acquired for such improvement, other than that due to physical deterioration within the reasonable control of the owner. j. Documentation of estimates of value (either the before, the after, or the acquisition value), of damages, and/or of special benefits shall be by the most applicable and appropriate means available. If support for the after value by the usual methods of market or income data or indications from severance damage studies is not feasible, the Appraiser shall so state and explain why it is not feasible. In such instances, the Appraiser must then fully explain the reasoning for the after value estimate. k. The appraisal shall conform to statutory and judicial determinations regarding compensable and non-compensable items. 1. The Appraiser's report shall be in writing and contain, as a minimum, the following; (i) The purpose of the appraisal, definition of value to be estimated and the rights or interests being appraised. (ii) Identification of the property and its ownership, including at least a five year delineation of title. (iii) Statement of appropriate contingent and limiting conditions, if any. (iv) An adequate description of the neighborhood, the property, the portion of the property or interest therein being acquired, and the remainder(s) if any. ELF