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1. After service of the closure statement by the park owner and upon submittal by the displaced owner of a contract or other verification of relocation expenses, the park owner shall pay to the displaced owner the reasonable cost of relocating the manufactured home to another manufactured home park located within a twenty-five (25) mile radius of the park that is being closed, converted to another use, or ceasing operation. Reasonable relocation costs shall include: A. The actual expenses incurred in moving the displaced resident's owner's manufactured home and personal property, including the reasonable cost of disassembling, moving and reassembling sheds and any attached appurtenances, such as porches, decks, skirting and awnings, which were not acquired after notice of closure or conversion of the park, and utility "hook-up" charges. B. The cost of insurance for the replacement value of the property being moved. C. The cost of repairs or modifications that are required in order to take down, move and set up the manufactured home. 2. If a displaced owner cannot relocate the manufactured home within a twenty-five (25) mile radius of the park which is being closed or some other agreed upon distance, and the displaced owner elects not to tender title to the manufactured home, the displaced owner is entitled to relocation costs based upon an average of relocation costs awarded to other residents in the park. 3. A displaced owner compensated under this section shall retain title to the manufactured home and shall be responsible for its prompt removal from the manufactured home park. 4. The park owner shall make the payments under this section directly to the person performing the relocation services after performance thereof, or, upon submission of written evidence of payment of relocation costs by a displaced resident, shall reimburse the displaced resident for such costs. 5. The displaced owner must submit a contract or other verified cost estimate for relocating the manufactured home to the park owner as a condition to the park owner's liability to pay relocation expenses. SECTION 313.07 PAYMENT OF ADDITIONAL COMPENSATION TO DISPLACED OWNERS If a displaced owner either cannot or chooses not to relocate the manufactured home within a 25-mile radius of the park that is being closed or some other agreed upon distance and tenders title to the manufactured home, the displaced owner is entitled to additional compensation to be paid by the purchaser of the park in order to mitigate the adverse financial impact of the park closing. In such instance, the additional compensation shall be an amount equal to the estimated market value or the tax assessed