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properties as if the rights to be obtained were available on the open market. No existing <br />agreements providing options to purchase are to be considered. <br />3. Sales relied upon for valuation purposes shall be verified with each grantor and/or <br />grantee and physically inspected. Particular attention is to be exercised in determining <br />the validity of the transaction and whether it is an "arm's length" sale. The Contractor will <br />identify and analyze terms and conditions related to each sale whenever possible. Also, <br />the Contractor shall explain reasons for eliminating the consideration of any sales in the <br />vicinity of the properties. <br />4. The Contractor shall contact the Owners of Record and offer the opportunity to <br />accompany the Contractor on the inspection of the properties. The Appraisal Report <br />shall contain a written statement of accompaniment sinned by the owner or his/her <br />representative to verify that the opportunity was offered (see Attachment 4, <br />Statement of Accompaniment). The Contractor shall also contact the Commission <br />representative well in advance of the inspection date to allow him/her the opportunity to <br />be present during said inspection. <br />5. Valuation shall consider leasehold interests, if any, and the absence or presence of <br />mineral rights, tidelands, and shorelands. <br />6. Valuation shall consider any rights, title, and interest in and to all trees, crops, oil, gas, <br />sand, gravel, or water rights, if any. <br />7. Valuation shall consider any rights, title, and interest in and to all easements, rights-of- <br />way and other rights used in connection with said real property(ies), including, but not <br />limited to, maintenance easements, rights to adjacent streets, roads, alleys, and rights-of- <br />way. Specifically, describe the existing physical access to the property and the location of <br />legal access to the public roadway, if known. <br />8. Any unusual conditions or problems not mentioned in the Contract, but which may be <br />discovered by the Contractor in performance of his/her assignment, shall be explained <br />and considered in the valuation. <br />9. The Contractor shall follow current professional appraisal practices giving consideration <br />to the three primary approaches to value: cost less depreciation, income and the <br />comparative (market) approach, unless otherwise specified in the Contract. Should any of <br />these approaches to value not be applicable to the assignment, this contractual obligation <br />can be fulfilled by identifying that approach to value together with a brief explanation for <br />its omission (i.e., an appraisal involving land valuation only). <br />10. It is agreed by Commission and the Contractor that if the Contractor does not timely <br />provide or perform the requirements referred to or listed in this Scope of Work, damage <br />to Commission will result. The damages to the Commission resulting from the same <br />would be difficult or impractical to ascertain. The liquidated damages specified herein <br />represent a good faith effort to quantify the harm that could reasonably be anticipated at <br />the time of the making of the scope of work. The damages provided in this section are <br />just and reasonable. Therefore, Commission and the Contractor agree that if the <br />Contractor does not meet the mutually agreed upon performance or deliverable dates as <br />APPRAISAL SCOPE OF WORK Page 3 of 10 <br />State Park— Property <br />