The real property to be appraised is the subject of two proposed acquisitions. The first appraisal is known as Pike Forest which consists of approximately 1241 acres in Pike County. The second appraisal is known as Sunfish Creek which consists of approximately 2,952 acres. (Jointly known as “the Properties”). The Properties are further described and illustrated in Exhibit “A” attached hereto and made a part of this Agreement. B. The Appraiser shall furnish an Appraisal Report (“the Appraisal”) of the market value of each property being appraised, to be estimated in accordance with recognized appraisal procedures. The Appraiser shall make such investigations and studies as are necessary to derive sound conclusions as to the market value of the Properties and to prepare an adequate Appraisal. The Appraisal shall report an opinion of value for the aggregate value on a “per acre” basis. The Appraisal is subject to review by the Department and Department’s Review Appraiser and must conform to the current version of the Uniform Standards of Professional Appraisal Practice “USPAP”, the Uniform Appraisal Standards for Federal Land Purchases “USFLA”, the Forest Legacy Implementation Guidelines “FLP Guidelines” detailed in Exhibit “C”, and the Appraisals shall also include the items outlined in attached Exhibit "B". The Appraisal shall follow instructions provided by the Department’s Review Appraiser.
