1401 POPLAR ST 2016-01-01 MF Import

1� � t 1 ACCRUED DEPRECI7ITION: This is defined as che difference between rsp2acamenc ccsc na�a oL Lhe , i:c:prover�ants and tne present worth of those improvemencs, bocn 5235- ured as of daca oi cost estinate. nccrued depreciation is scr:izc::nes referrad to as "diminished utility". :.ecrued depreciacion is che cotal value loss, and may be oroken down into pnysical decerioration, funecicnal obsolescenses,la loss actribu- tabie to a deficiency or a super adequacy) and/or intarnal obsolescen- ces,la loss attributable to chanqes in the economy or n�ighborhood). As instructed by the Client, this report on replacement cost, as i� naw, does not measure or report on accrued depreciation or laad valua- tion. The final conclusion �} cost, ae if nerr, (lass land valua). 71�1SURANCE EXCLUSIONS: First, "Insurance Exclusions" are a matter of ur.derwritinq and on t a matter of valuation: Therg are several methods in establ:shinq what items and Hhat a:ounc of those items to be excluded. The simplest method of caiculating in- suranc� exclusions is by not includinq the cost of the e:ccluded items wher. the total cost is computed. Another mathod, which tnis report has adopted, is to compute the excludad cost for a more realistic estimaca and chen isolace or set-up the specific exclusions by subzraccinq them from the total cost of the b�+ildinq. i'::clusions by a sinqle, overall percentage of tocal buildinq is an aasy but less accurate method. Whereas, we have attempted co reason. For example, after fire or demolition, while che excavation and found- ation may still exist, the necessiti for repair and modiPication usu- ally discouraqes re-use. Also, after a few years, the neignborhood value or character has chanired sufficiently or building scyles may have chan3=d, so that re-use is seldom atcempted aad when foundations or Eloor slabs are used aqain, etipenditures musL be mace ior rehabil- itation and modification. • Pipinq below qround is in mucn ' value in connection with re-use ir,iprovement was not excluded in by the insurance underwriter. the same cateqory wich lictle salvage . However, the anount allccated co this chis report an3 should be considerad Plans, specifications and enqineering ara seldom repeatad on the same sita since buildinqs are not usually rebuilt in exactly tne same Hay after loss. Also, oWnership of the plans often r2mains with thE archi- tect, so that ar.other use toqether witn necessary modificaticns would call for a Purcher fee. For this reason we have excluded only 10�C of the architect'a f�e. The excavation, sice prepar:�tion and foundation exclusion :c•prt�ents 100� of the cost new. Page 11 of li � PARCEL 4