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BRKW APPRAISALS, INC. PAGE 4 Report Format For each of the two subject properties, the appraisals will be communicated in separate reports, utilizing a narrative Appraisal Report format. The level of discussion and detail in the report will be similar to that contained in what is formerly known as the Summary Report format, a report type label which was discontinued by the Uniform Standards of Appraisal Practice (USPAP), effective January 1, 2014. The level of discussion in the r eport s to be issued to the client can be best described as summarizing the subject property attributes and the appraisal process, but also providing enough information and detail to enable the client and intended users to understand the rationale for the a ppraiser’s opinions and conclusions. The report s will contain supporting data for the appraiser’s analysis and valuation, including comparable sales data and the adjustments made to the sales. For an assignment such as that described in this proposal, th e appraisal report s would likely contain between 4 5 and 65 pages each. Additional notes, data, analyses and other documentation supporting the appraisal are retained in the office appraisal file. The appraisal s will be prepared in accordance with the Cod e of Ethics and the Standards of Professional Practice of the Appraisal Institute, and with the Uniform Standards of Professional Appraisal Practice (USPAP), as mandated by the State of Minnesota. Proposed Appraisal Fee s Based on the anticipated scope of work involved in the assignment to appraise the subject propert ies and the complexity of issues that must be addressed to properly arrive at credible opinion s of market value for these particular propert ies , I propose the following appraisal fee s : Property 1 – Former Public Works Site $ 5 ,5 00 Property 2 – Current City Hall Property $ 5 ,0 00 Total Proposed Appraisal Fees $1 0 ,5 00 The appraisal fees quoted are based on a package assignment involving the appraisal of both properties . The fees would differ from those quoted if the appraisal assignment were to cover only one or the other of the two subject properties. Completion Date The appraisal report s would be completed within two months of authorization to proceed. Delive rables A high -quality, full -color electronic copy of each appraisal report, in .pdf form, will be emailed to you upon completion of the assignment. Should the need or desire arise for one or more hard copies of the report s as well , our firm could print, bind and mail to you such hard copies, upon your request, with sufficient advance notice.