G. Randall Hammond & Co.: Atlanta Real Estate Appraisers & Consultants

The process of performing property valuation where no departures from the Uniform Standards of Professional Appraisal Practice "USPAP" are exercised. The USPAP allow appraisals to be reported in three formats:

1)	Self-Contained
2)	Summary
3)	Restricted

Shorter, more concise reports often translate into cost and time savings for the client. However, regardless of the form, the process is without limit on the scope of the investigations and the due diligence utilized in estimating value does not change.

Because of the due diligence required to perform a complete appraisal, except under certain circumstances, GRHCo is not economically positioned to provide this service outside our market area (Atlanta MSA and surrounding areas of Georgia). We believe that, in most cases, the client's complete appraisal needs are met by employing the services of a local and competent appraisal professional. Exceptions could include: 1) when the property is sufficiently large in scope that it has developed a regional or national market, e.g., regional malls or institutional investment-grade properties; 2) when multiple like-kind properties in the same market are packaged together and efficiencies develop; or 3) when a client's need justifies an increased fee to compensate for the inefficiency resulting from traveling outside our market area, e.g., there are no local competent appraisers or previous valuations cause concern and the client desires an outside perspective.

A valuation where the departure provision of the USPAP is exercised (except where prohibited). Similar to complete appraisals, limited appraisals can also be reported in self-contained, summary, or restricted formats. We recognize that, in many cases, clients possess significant knowledge about their assets and that this knowledge can be used to significantly reduce appraisal cost and turnaround time. Moreover, many times certain approaches to value may not be totally appropriate or necessary to reach a credible value conclusion. Therefore, to the extent possible, GRHCo will work with the client to provide a limited appraisal that meets their due diligence and reporting requirements. As with complete appraisals, GRHCo primarily provides this service locally, but can and will work outside our market area as conditions permit.

Valuation assignments where the purpose is to estimate just compensation to the property owner in cases where condemnation may become necessary. The process typically involves an appraisal of 1) the real property located in the proposed acquisition, 2) the real property before the acquisition, and/or 3) the real property after the acquisition. Just compensation includes the value of the acquisition plus severance damages, if any. GRHCo has significant experience completing eminent domain appraisals for utility and transportation agencies and property owners and provides expert testimony as well. This service is provided in the Atlanta MSA and numerous counties throughout Georgia.

An independent review of an appraisal report to determine compliance with the USPAP and Supplemental Appraisal Standards, if any, the reasonableness of the methodology employed, and the resulting value conclusion.

1)	The client's appraisal report substantially complies with the USPAP - a report is prepared attesting to this opinion
2)	The report is determined to be deficient and/or to present unreasonable conclusions - material deficiencies are reported to the independent fee appraiser to bring the appraisal into compliance
3)	Requests for revisions do not result in an acceptable appraisal - GRHCo takes the necessary steps to correct the deficiencies and/or conclude an independent value as part of the review

G. Randall Hammond & Co. provides review appraisals nationally. The contract normally involves a tiered fee with maximums set at each level. GRHCo has extensive experience in this area and is uniquely qualified to provide appraisal review services. In the end, clients reduce costs by salvaging the original appraisal as part of the review process.