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ACEP -ALE Appraisal Specifications and Scope c. The market value definition that will be stated and used in developing and reporting this assignment is the definition as stated in UASFLA: 1. "Market value is the amount in cash, or in terms reasonably equivalent to cash, for which in all probability the property would have sold on the effective date of the appraisal, after a reasonable exposure time on the open competitive market, from a willing and reasonably knowledgeable seller to a willing and reasonably knowledgeable buyer, with neither acting under any compulsion to buy or sell, giving due consideration to all available economic uses of the property at the time of the appraisal." d. This definition makes no linkage between the estimated market value and exposure time. A specific exposure time may not be cited in an appraisal report prepared under Yellow Book standards. Invoke the jurisdictional exception rule to avoid a violation of USPAP standards, which require a specific exposure time. e. No other definition of market value is acceptable for UASFLA/Yellow Book appraisals. S D. Information for the appraiser 1. The following information is recommended to be ed to the appraiser by the client (eligible entity): a. Aerial photograph of the subject property with the location of the proposed easement area identified, access to the easement area identified, easement boundary identified, and an estimate of the acres in the proposed easement identified b. Legal description of subject property's parent tract c. Preliminary legal description of the proposed easement area or survey d. Copy of the proposed Conservation Easement Deed e. Aerial photograph indicating the location and acreage of any conservation agreement, contract, or easement of any type that is associated with the property f. Specific details of any existing easements, reservations or other restriction currently encumbering the subject property as provided by the landowner g. Documentation of production data provided by landowner h. If water rights are included in the easement area, documentation provided by eligible entity will identify the volume of water rights to be retained for the subject property as necessary i. Documentation of water rights owned, including name of irrigation company, number of shares or amount of ownership and documentation concerning irrigation wells on the property to be appraised, as provided by the landowner j. Recorded landowner's name, address and telephone number k. 'Current information as to the status of title of ownership, such as copies of ® If available, completed Preliminary Certificate of Inspection and Possession and the Hazardous Substance Examination Checklist and any available information pertaining to the probability of existence of hazardous substances that might be found on the property to be appraised m. Copy of preliminary title commitment covering the proposed easement area, if available n. Copy of the completed easement management plan of the proposed easement area and a copy of the restoration plan, if applicable Attachment number 1 F -7 Page 184