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CABARRUS COUNTY 2012 APPRAISAL MANUAL INCOME APPLICATION TABLE APPLICATION DESCRIPTION CODE REQUIRED DATA APPLICABILITY #1 #2 #3 #4 Land Residual LRST 1- Net Annual Income Short -term lease & Straight Line 2- Current Bldg.Value rental properties. New 3- Remaining Economic Life or nearly new buildings. (Known building value.) Land Residual LRLA 1- Net Annual Income Long -term lease & new Present Value 2- Current Bldg. Value or nearly new buildings. or Discounted 3- Remaining Economic Life (Known building value.) Cash Flow 4- Discount Rate 2- Building BRST 1- Net Annual Income Short -term lease & rental Residual, 2- Current Land Value properties. (Known land Straight -line 3- Remaining Economic Life value.) 2- 4- Discount Rate Building Residual Present Value #5 Property Residual with land reversion at the end of period BRLA 1- Net Annual Income Long -term lease & good land 2- Current Land Value comparables. (Known land 3- Remaining Economic Life value.) 4- Discount Rate Annual Mortgage Rate PRLA 1- Net Annual Income Long -term lease, overall rate 2- Current Land Value obtained from comparable sales. 3- Expected Land Grow Rate Expected Appreciation ( +) 4- Discount Rate or Depreciation ( -). 5- Remaining Economic Life Gross Annual Income #6 Ellwood Mortgage EQTY 1- Net Annual Income Equity 2- Investment Period 3- Mortgage Term 4- Annual Mortgage Rate 5- Loan to Total Ratio 6- Desired Yield 7- Expected Appreciation ( +) or Depreciation ( -). #7 Annual Gross AGIM 1- Gross Annual Income Income Multiplier 2- Annual Gross Income Multiplier Cabarrus County — 2012 Revaluation Sophisticated, short -term (5 -10 yr.), investors, recent refinancing and current dependable growth forecast. Sufficient sales with a high degree of comparability to establish a reliable Annual Gross Income Multiplier INCOME PROPERTY VALUATION 8- 15 05/24/01 Attachment number 9 G -6 Page 286