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Attachment 1 <br />File:Scope of Work <br />real estate improvements. However, in this case, the tradefixtures are those items <br />that are specific to the beauty salon use and operations. Examples include lighting <br />soffits, additional electrical outlets, plumbing systems to the shampoo stations, and <br />so on. <br />To conclude the point, the term trade fixtures is not meant to comply with a strict <br />legal definition for purposes ofthis appraisal assignment. A full list of the individual <br />subject items is provided in a latter section of this report. <br />DEFINITIONS OF VALUE <br />The fair market value in continued use of the subject trade fixtures is being appraised. <br />The American Society of Appraisers provides the followingdefinition of fair market <br />value in continued use. <br />Given the above, the appraisal assignment does not include a highest and best use <br />analysis. Rather, the value conclusion(s) are based on the premise that the subject <br />property will continue in support of the current beautysalon use. <br />Furthermore, the appraised values reflect the subject property items as they are <br />currently installed/constructed. Thus, the definition of fair market value – installed is <br />also applicable to the appraisal assignment. The American Society of Appraisers <br />provides the following definition. <br />Dodd Advisory & Valuation 5 <br />Qbhf!215!pg!385 <br /> <br />