Common use of INFORMATION NEEDED FOR ESCROW PROCESSING AND CLOSURE Clause in Contracts

INFORMATION NEEDED FOR ESCROW PROCESSING AND CLOSURE. The Funding Recipient must provide the following documents to the State Project Representative during the escrow process. Property acquisition escrow documents must be submitted within the term of this Funding Agreement and after a qualified appraisal has been approved. Name and Address of Title Company Handling the Escrow Escrow Number Name of Escrow Officer Escrow Officer’s Phone Number Dollar Amount Needed to Close Escrow Legal Description of Property Being Acquired Assessor’s Parcel Number(s) of Property Being Acquired Copy of Title Insurance Report Entity Taking Title as Named Insured on Title Insurance Policy Copy of Escrow Instructions in Draft Form Prior to Recording for Review Purposes Copy of Final Escrow Instructions Verification that all Encumbrances (Liens, Back Taxes, and Similar Obligations) have been Cleared Prior to Recording the Deed to Transfer Title Copy of Deed for Review Purposes Prior to Recording Copy of Deed as Recorded in County Recorder’s Office Copy of Escrow Closure Notice Exhibit L APPRAISAL SPECIFICATIONS For property acquisitions funded this Funding Agreement, the Funding Recipient must submit an appraisal for review and approval by the Department of General Services or DWR’s Real Estate Branch prior to reimbursement or depositing State funds into an escrow account. All appraisal reports, regardless of report format, must include all applicable Appraisal Specifications below. Appraisals for a total compensation of $150,000 or more shall be reported as a Self-Contained Appraisal Report. Appraisals for a total compensation of less than $150,000 may be reported as a Summary Appraisal Report, which includes all information necessary to arrive at the appraiser’s conclusion. Appraisal Specifications 14, 16, 21, 23-25, and 28 shall be narrative analysis regardless of the reporting format. Title page with sufficient identification of appraisal assignment. Letter of transmittal summarizing important assumptions and conclusions, value estimate, date of value and date of report. Table of contents. Assumptions and Limiting Conditions, Extraordinary Assumptions, and Hypothetical Conditions as needed. Description of the scope of work, including the extent of data collection and limitations, if any, in obtaining relevant data. Definition of Fair Market Value, as defined by Code of Civil Procedure, section 1263.320. Photographs of subject property and comparable data, including significant physical features and the interior of structural improvements, if applicable. Copies of Tax Assessor’s plat map with the subject marked along with all contiguous assessor’s parcels that depict the ownership. A legal description of the subject property, if available. For large, remote or inaccessible parcels, provide aerial photographs or topographical maps depicting the subject boundaries. Three-year subject property history, including sales, listings, leases, options, zoning, applications for permits, or other documents or facts that might indicate or affect use or value. Discussion of any current Agreement of Sale, option, or listing of subject property. This issue required increased diligence since state agencies often utilize non-profit organizations to quickly acquire sensitive-habitat parcels using Option Agreements. However, due to confidentiality clauses, the terms of the Option are often not disclosed to the state. If the appraiser discovers evidence of an Option or the possible existence of an Option, and the terms cannot be disclosed due to a confidentiality clause, then the appraiser is to cease work and contact the client. Regional, area, and neighborhood analyses. This information may be presented in a summary format. Market conditions and trends including identification of the relevant market area, a discussion of supply and demand within the relevant market area, and a discussion of the relevant market factors impacting demand for site acquisition and leasing within the relevant market area. This information may be presented in a summary format. Discussion of subject land/site characteristics (size, topography, current use, elevations, zoning and land use issues, development entitlements, General Plan designation, utilities, offsite improvements, access, land features such as levees and creeks, offsite improvements, easements and encumbrances, covenants, conditions and restrictions, flood and earthquake information, toxic hazards, water rights, mineral rights, toxic hazards, taxes and assessments, etc.). Description of subject improvements including all structures, square footage, physical age, type of construction, quality of construction, condition of improvements and/or identification of any permanent plantings. Discussion of construction cost methodology, costs included and excluded, accrued depreciation from all causes, remaining economic life, items of deferred maintenance and cost to cure, and incurable items. Construction cost data must include cost data source, date of estimate or date of publication of cost manual, section and page reference of cost manual, copies of cost estimate if provided from another source, replacement or reproduction cost method used, and supporting calculations including worksheets or spreadsheets. Subject property leasing and operating cost history, including all items of income and expense. Analysis and conclusion of the larger parcel for partial taking appraisals. For partial taking appraisals, Appraisal Specifications generally apply to the larger parcel rather than an ownership where the larger parcel is not the entire ownership. Include a copy of a recent preliminary title report (within the past year) as an appraisal exhibit. Discuss the title exceptions and analyze the effect of title exceptions on fair market value. For appraisals of partial takings or easements, a detailed description of the taking or easement area including surface features and topography, easements, encumbrances or improvements including levees within the subject partial take or easement, and whether the take area is characteristic of the larger parcel. Any characteristics of the taking area, including existing pre-project levees that render the take area different from the larger parcel must be addressed in the valuation. Opinion of highest and best use for the subject property, based on an in depth analysis supporting the concluded use which includes the detail required by the complexity of the analysis. Such support typically requires a discussion of the four criteria of tests utilized to determine the highest and best use of a property. If alternative feasible uses exist, explain and support market, development, cash flow, and risk factors leading to an ultimate highest and best use decision. All approaches to market value applicable to the property type and in the subject market. Explain and support the exclusion of any usual approaches to value. Map(s) showing all comparable properties in relation to the subject property. Photographs and plat maps of comparable properties. In depth discussion of comparable properties, similarities and differences compared to the subject, adjustments to the comparable data, and discussion of the reliability and credibility of the data as it relates to the indicated subject property value. Improved comparable sales which are used to compare to vacant land subject properties must include an allocation between land and improvements, using methodology similar to methodology used in item 16 above to estimate improvement value when possible, with an explanation of the methodology used. Comparable data sheets. For sales, include information on grantor/grantee, sale/recordation dates, listed or asking price as of the date of sale, highest and best use, financing, conditions of sale, buyer motivation, sufficient location information (street address, post mile, and/or distance from local landmarks such as bridges, road intersections, structures, etc.), land/site characteristics, improvements, source of any allocation of sale price between land and improvements, and confirming source. For listings, also include marketing time from list date to effective date of the appraisal, original list price, changes in list price, broker feedback, if available. For leases, include significant information such as lessor/lessee, lease date and term, type of lease, rent and escalation, expenses, size of space leased, tenant improvement allowance, concessions, use restrictions, options, and confirming source. When comparing improved sales to a vacant land subject, the contributory value of the improvements must be segregated from the land value. For appraisals of easements, a before and after analysis of the burden of the easement on the fee, with attention to how the easement affects highest and best use in the after condition. An Easement Valuation Matrix or generalized easement valuation references may be used ONLY as a reference for a secondary basis of value. For partial taking and easement appraisals, valuation of the remainder in the after condition and analysis and identification of any change in highest and best use or other characteristics in the after condition, to establish severance damages to the remainder in the after condition, and a discussion of special and general benefits, and cost to cure damages or construction contract work. There are occasions where properties involve water rights, minerals, or salable timber that require separate valuations. If an appraisal assignment includes water rights, minerals, or merchantable timber that requires separate valuation, the valuation of the water rights, minerals, or merchantable timber must be completed by a credentialed subject matter specialist. For partial taking and easement appraisals, presentation of the valuation in California partial taking acquisition required format. Implied dedication statement. Reconciliation and final value estimate. Include analysis and comparison of the comparable sales to the subject, and explain and support conclusions reached. Discussion of any departures taken in the development of the appraisal. Signed Certification consistent with the language found in Uniform Standards of Professional Appraisal Practice. If applicable, in addition to the above, appraisals of telecommunication sites must also provide: A discussion of market conditions and trends including identification of the relevant market, a discussion of supply and demand within the relevant market area and a discussion of the relevant market factors impacting demand for site acquisition and leasing within the relevant market area. An analysis of other (ground and vault) leases comparable to subject property. Factors to be discussed in the analysis include the latitude, longitude, type of tower, tower height, number of rack spaces, number of racks occupied, placement of racks, power source and adequacy, back-up power, vault and site improvements description and location on site, other utilities; access, and road maintenance costs. Exhibit M

INFORMATION NEEDED FOR ESCROW PROCESSING AND CLOSURE. The Funding Recipient must provide the following documents to the State Project Representative during the escrow process. Property acquisition escrow documents must be submitted within the term of this Funding Agreement and after a qualified appraisal has been approved. • Name and Address of Title Company Handling the Escrow • Escrow Number • Name of Escrow Officer • Escrow Officer’s Phone Number • Dollar Amount Needed to Close Escrow • Legal Description of Property Being Acquired • Assessor’s Parcel Number(s) of Property Being Acquired • Copy of Title Insurance Report • Entity Taking Title as Named Insured on Title Insurance Policy • Copy of Escrow Instructions in Draft Form Prior to Recording for Review Purposes • Copy of Final Escrow Instructions • Verification that all Encumbrances (Liens, Back Taxes, and Similar Obligations) have been Cleared Prior to Recording the Deed to Transfer Title • Copy of Deed for Review Purposes Prior to Recording • Copy of Deed as Recorded in County Recorder’s Office • Copy of Escrow Closure Notice Exhibit L APPRAISAL SPECIFICATIONS Appraisal Specifications For property acquisitions funded this Funding Agreement, the Funding Recipient must submit an appraisal for review and approval by the Department of General Services or DWR’s Real Estate Branch prior to reimbursement or depositing State funds into an escrow account. All appraisal reports, regardless of report format, must include all applicable Appraisal Specifications below. Appraisals for a total compensation of $150,000 or more shall be reported as a Self-Contained Appraisal Report. Appraisals for a total compensation of less than $150,000 may be reported as a Summary Appraisal Report, which includes all information necessary to arrive at the appraiser’s conclusion. Appraisal Specifications 14, 16, 21, 23-25, and 28 shall be narrative analysis regardless of the reporting format. Title page with sufficient identification of appraisal assignment. Letter of transmittal summarizing important assumptions and conclusions, value estimate, date of value and date of report. Table of contents. Assumptions and Limiting Conditions, Extraordinary Assumptions, and Hypothetical Conditions as needed. Description of the scope of work, including the extent of data collection and limitations, if any, in obtaining relevant data. Definition of Fair Market Value, as defined by Code of Civil Procedure, section 1263.320. Photographs of subject property and comparable data, including significant physical features and the interior of structural improvements, if applicable. Copies of Tax Assessor’s plat map with the subject marked along with all contiguous assessor’s parcels that depict the ownership. A legal description of the subject property, if available. For large, remote or inaccessible parcels, provide aerial photographs or topographical maps depicting the subject boundaries. Three-year subject property history, including sales, listings, leases, options, zoning, applications for permits, or other documents or facts that might indicate or affect use or value. Discussion of any current Agreement of Sale, option, or listing of subject property. This issue required increased diligence since state agencies often utilize non-profit organizations to quickly acquire sensitive-habitat parcels using Option Agreements. However, due to confidentiality clauses, the terms of the Option are often not disclosed to the state. If the appraiser discovers evidence of an Option or the possible existence of an Option, and the terms cannot be disclosed due to a confidentiality clause, then the appraiser is to cease work and contact the client. Regional, area, and neighborhood analyses. This information may be presented in a summary format. Market conditions and trends including identification of the relevant market area, a discussion of supply and demand within the relevant market area, and a discussion of the relevant market factors impacting demand for site acquisition and leasing within the relevant market area. This information may be presented in a summary format. Discussion of subject land/site characteristics (size, topography, current use, elevations, zoning and land use issues, development entitlements, General Plan designation, utilities, offsite improvements, access, land features such as levees and creeks, offsite improvements, easements and encumbrances, covenants, conditions and restrictions, flood and earthquake information, toxic hazards, water rights, mineral rights, toxic hazards, taxes and assessments, etc.). Description of subject improvements including all structures, square footage, physical age, type of construction, quality of construction, condition of improvements and/or identification of any permanent plantings. Discussion of construction cost methodology, costs included and excluded, accrued depreciation from all causes, remaining economic life, items of deferred maintenance and cost to cure, and incurable items. Construction cost data must include cost data source, date of estimate or date of publication of cost manual, section and page reference of cost manual, copies of cost estimate if provided from another source, replacement or reproduction cost method used, and supporting calculations including worksheets or spreadsheets. Subject property leasing and operating cost history, including all items of income and expense. Analysis and conclusion of the larger parcel for partial taking appraisals. For partial taking appraisals, Appraisal Specifications generally apply to the larger parcel rather than an ownership where the larger parcel is not the entire ownership. Include a copy of a recent preliminary title report (within the past year) as an appraisal exhibit. Discuss the title exceptions and analyze the effect of title exceptions on fair market value. For appraisals of partial takings or easements, a detailed description of the taking or easement area including surface features and topography, easements, encumbrances or improvements including levees within the subject partial take or easement, and whether the take area is characteristic of the larger parcel. Any characteristics of the taking area, including existing pre-project levees that render the take area different from the larger parcel must be addressed in the valuation. Opinion of highest and best use for the subject property, based on an in depth analysis supporting the concluded use which includes the detail required by the complexity of the analysis. Such support typically requires a discussion of the four criteria of tests utilized to determine the highest and best use of a property. If alternative feasible uses exist, explain and support market, development, cash flow, and risk factors leading to an ultimate highest and best use decision. All approaches to market value applicable to the property type and in the subject market. Explain and support the exclusion of any usual approaches to value. Map(s) showing all comparable properties in relation to the subject property. Photographs and plat maps of comparable properties. In depth discussion of comparable properties, similarities and differences compared to the subject, adjustments to the comparable data, and discussion of the reliability and credibility of the data as it relates to the indicated subject property value. Improved comparable sales which are used to compare to vacant land subject properties must include an allocation between land and improvements, using methodology similar to methodology used in item 16 above to estimate improvement value when possible, with an explanation of the methodology used. Comparable data sheets. For sales, include information on grantor/grantee, sale/recordation dates, listed or asking price as of the date of sale, highest and best use, financing, conditions of sale, buyer motivation, sufficient location information (street address, post mile, and/or distance from local landmarks such as bridges, road intersections, structures, etc.), land/site characteristics, improvements, source of any allocation of sale price between land and improvements, and confirming source. For listings, also include marketing time from list date to effective date of the appraisal, original list price, changes in list price, broker feedback, if available. For leases, include significant information such as lessor/lessee, lease date and term, type of lease, rent and escalation, expenses, size of space leased, tenant improvement allowance, concessions, use restrictions, options, and confirming source. When comparing improved sales to a vacant land subject, the contributory value of the improvements must be segregated from the land value. For appraisals of easements, a before and after analysis of the burden of the easement on the fee, with attention to how the easement affects highest and best use in the after condition. An Easement Valuation Matrix or generalized easement valuation references may be used ONLY as a reference for a secondary basis of value. For partial taking and easement appraisals, valuation of the remainder in the after condition and analysis and identification of any change in highest and best use or other characteristics in the after condition, to establish severance damages to the remainder in the after condition, and a discussion of special and general benefits, and cost to cure damages or construction contract work. There are occasions where properties involve water rights, minerals, or salable timber that require separate valuations. If an appraisal assignment includes water rights, minerals, or merchantable timber that requires separate valuation, the valuation of the water rights, minerals, or merchantable timber must be completed by a credentialed subject matter specialist. For partial taking and easement appraisals, presentation of the valuation in California partial taking acquisition required format. Implied dedication statement. Reconciliation and final value estimate. Include analysis and comparison of the comparable sales to the subject, and explain and support conclusions reached. Discussion of any departures taken in the development of the appraisal. Signed Certification consistent with the language found in Uniform Standards of Professional Appraisal Practice. If applicable, in addition to the above, appraisals of telecommunication sites must also provide: A discussion of market conditions and trends including identification of the relevant market, a discussion of supply and demand within the relevant market area and a discussion of the relevant market factors impacting demand for site acquisition and leasing within the relevant market area. An analysis of other (ground and vault) leases comparable to subject property. Factors to be discussed in the analysis include the latitude, longitude, type of tower, tower height, number of rack spaces, number of racks occupied, placement of racks, power source and adequacy, back-up power, vault and site improvements description and location on site, other utilities; access, and road maintenance costs. Exhibit M

INFORMATION NEEDED FOR ESCROW PROCESSING AND CLOSURE. The Funding Recipient must provide the following documents to the State Project Representative during the escrow process. Property acquisition escrow documents must be submitted within the term of this Funding Agreement and after a qualified appraisal has been approved. Name and Address of Title Company Handling the Escrow Escrow Number Name of Escrow Officer Escrow Xxxxxx Officer’s Phone Number Dollar Amount Needed to Close Escrow Legal Description of Property Being Acquired Assessor’s Parcel Number(s) of Property Being Acquired Copy of Title Insurance Report Entity Taking Title as Named Insured on Title Insurance Policy Copy of Escrow Instructions in Draft Form Prior to Recording for Review Purposes Copy of Final Escrow Instructions Verification that all Encumbrances (Liens, Back Taxes, and Similar Obligations) have been Cleared Prior to Recording the Deed to Transfer Title Copy of Deed for Review Purposes Prior to Recording Copy of Deed as Recorded in County Recorder’s Office Copy of Escrow Closure Notice Exhibit L APPRAISAL SPECIFICATIONS For property acquisitions funded this Funding Agreement, the Funding Recipient must submit an appraisal for review and approval by the Department of General Services or DWR’s Real Estate Branch prior to reimbursement or depositing State funds into an escrow account. All appraisal reports, regardless of report format, must include all applicable Appraisal Specifications below. Appraisals for a total compensation of $150,000 or more shall be reported as a Self-Contained Appraisal Report. Appraisals for a total compensation of less than $150,000 may be reported as a Summary Appraisal Report, which includes all information necessary to arrive at the appraiser’s conclusion. Appraisal Specifications 14, 16, 21, 23-25, and 28 shall be narrative analysis regardless of the reporting format. Title page with sufficient identification of appraisal assignment. Letter of transmittal summarizing important assumptions and conclusions, value estimate, date of value and date of report. Table of contents. Assumptions and Limiting Conditions, Extraordinary Assumptions, and Hypothetical Conditions as needed. Description of the scope of work, including the extent of data collection and limitations, if any, in obtaining relevant data. Definition of Fair Market Value, as defined by Code of Civil Procedure, section 1263.320. Photographs of subject property and comparable data, including significant physical features and the interior of structural improvements, if applicable. Copies of Tax Assessor’s plat map with the subject marked along with all contiguous assessor’s parcels that depict the ownership. A legal description of the subject property, if available. For large, remote or inaccessible parcels, provide aerial photographs or topographical maps depicting the subject boundaries. Three-year subject property history, including sales, listings, leases, options, zoning, applications for permits, or other documents or facts that might indicate or affect use or value. Discussion of any current Agreement of Sale, option, or listing of subject property. This issue required increased diligence since state agencies often utilize non-profit organizations to quickly acquire sensitive-habitat parcels using Option Agreements. However, due to confidentiality clauses, the terms of the Option are often not disclosed to the state. If the appraiser discovers evidence of an Option or the possible existence of an Option, and the terms cannot be disclosed due to a confidentiality clause, then the appraiser is to cease work and contact the client. Regional, area, and neighborhood analyses. This information may be presented in a summary format. Market conditions and trends including identification of the relevant market area, a discussion of supply and demand within the relevant market area, and a discussion of the relevant market factors impacting demand for site acquisition and leasing within the relevant market area. This information may be presented in a summary format. Discussion of subject land/site characteristics (size, topography, current use, elevations, zoning and land use issues, development entitlements, General Plan designation, utilities, offsite improvements, access, land features such as levees and creeks, offsite improvements, easements and encumbrances, covenants, conditions and restrictions, flood and earthquake information, toxic hazards, water rights, mineral rights, toxic hazards, taxes and assessments, etc.). Description of subject improvements including all structures, square footage, physical age, type of construction, quality of construction, condition of improvements and/or identification of any permanent plantings. Discussion of construction cost methodology, costs included and excluded, accrued depreciation from all causes, remaining economic life, items of deferred maintenance and cost to cure, and incurable items. Construction cost data must include cost data source, date of estimate or date of publication of cost manual, section and page reference of cost manual, copies of cost estimate if provided from another source, replacement or reproduction cost method used, and supporting calculations including worksheets or spreadsheets. Subject property leasing and operating cost history, including all items of income and expense. Analysis and conclusion of the larger parcel for partial taking appraisals. For partial taking appraisals, Appraisal Specifications generally apply to the larger parcel rather than an ownership where the larger parcel is not the entire ownership. Include a copy of a recent preliminary title report (within the past year) as an appraisal exhibit. Discuss the title exceptions and analyze the effect of title exceptions on fair market value. For appraisals of partial takings or easements, a detailed description of the taking or easement area including surface features and topography, easements, encumbrances or improvements including levees within the subject partial take or easement, and whether the take area is characteristic of the larger parcel. Any characteristics of the taking area, including existing pre-project levees that render the take area different from the larger parcel must be addressed in the valuation. Opinion of highest and best use for the subject property, based on an in depth analysis supporting the concluded use which includes the detail required by the complexity of the analysis. Such support typically requires a discussion of the four criteria of tests utilized to determine the highest and best use of a property. If alternative feasible uses exist, explain and support market, development, cash flow, and risk factors leading to an ultimate highest and best use decision. All approaches to market value applicable to the property type and in the subject market. Explain and support the exclusion of any usual approaches to value. Map(s) showing all comparable properties in relation to the subject property. Photographs and plat maps of comparable properties. In depth discussion of comparable properties, similarities and differences compared to the subject, adjustments to the comparable data, and discussion of the reliability and credibility of the data as it relates to the indicated subject property value. Improved comparable sales which are used to compare to vacant land subject properties must include an allocation between land and improvements, using methodology similar to methodology used in item 16 above to estimate improvement value when possible, with an explanation of the methodology used. Comparable data sheets. For sales, include information on grantor/grantee, sale/recordation dates, listed or asking price as of the date of sale, highest and best use, financing, conditions of sale, buyer motivation, sufficient location information (street address, post mile, and/or distance from local landmarks such as bridges, road intersections, structures, etc.), land/site characteristics, improvements, source of any allocation of sale price between land and improvements, and confirming source. For listings, also include marketing time from list date to effective date of the appraisal, original list price, changes in list price, broker feedback, if available. For leases, include significant information such as lessor/lessee, lease date and term, type of lease, rent and escalation, expenses, size of space leased, tenant improvement allowance, concessions, use restrictions, options, and confirming source. When comparing improved sales to a vacant land subject, the contributory value of the improvements must be segregated from the land value. For appraisals of easements, a before and after analysis of the burden of the easement on the fee, with attention to how the easement affects highest and best use in the after condition. An Easement Valuation Matrix or generalized easement valuation references may be used ONLY as a reference for a secondary basis of value. For partial taking and easement appraisals, valuation of the remainder in the after condition and analysis and identification of any change in highest and best use or other characteristics in the after condition, to establish severance damages to the remainder in the after condition, and a discussion of special and general benefits, and cost to cure damages or construction contract work. There are occasions where properties involve water rights, minerals, or salable timber that require separate valuations. If an appraisal assignment includes water rights, minerals, or merchantable timber that requires separate valuation, the valuation of the water rights, minerals, or merchantable timber must be completed by a credentialed subject matter specialist. For partial taking and easement appraisals, presentation of the valuation in California partial taking acquisition required format. Implied dedication statement. Reconciliation and final value estimate. Include analysis and comparison of the comparable sales to the subject, and explain and support conclusions reached. Discussion of any departures taken in the development of the appraisal. Signed Certification consistent with the language found in Uniform Standards of Professional Appraisal Practice. If applicable, in addition to the above, appraisals of telecommunication sites must also provide: A discussion of market conditions and trends including identification of the relevant market, a discussion of supply and demand within the relevant market area and a discussion of the relevant market factors impacting demand for site acquisition and leasing within the relevant market area. An analysis of other (ground and vault) leases comparable to subject property. Factors to be discussed in the analysis include the latitude, longitude, type of tower, tower height, number of rack spaces, number of racks occupied, placement of racks, power source and adequacy, back-up power, vault and site improvements description and location on site, other utilities; access, and road maintenance costs. Exhibit M

INFORMATION NEEDED FOR ESCROW PROCESSING AND CLOSURE. The Funding Recipient Grantee must provide the following documents to the State Project Representative during the escrow process. Property acquisition escrow documents must be submitted within the term of this Funding Grant Agreement and after a qualified appraisal has been approved. The Grantee must provide the following documents to the State Project Representative during the escrow process. Property acquisition escrow documents must be submitted within the term of this Grant Agreement and after a qualified appraisal has been approved. • Name and Address of Title Company Handling the Escrow • Escrow Number • Name of Escrow Officer • Escrow Officer’s Phone Number • Dollar Amount Needed to Close Escrow • Legal Description of Property Being Acquired • Assessor’s Parcel Number(s) of Property Being Acquired • Copy of Title Insurance Report • Entity Taking Title as Named Insured on Title Insurance Policy • Copy of Escrow Instructions in Draft Form Prior to Recording for Review Purposes • Copy of Final Escrow Instructions • Verification that all Encumbrances (Liens, Back Taxes, and Similar Obligations) have been Cleared Prior to Recording the Deed to Transfer Title • Copy of Deed for Review Purposes Prior to Recording • Copy of Deed as Recorded in County Recorder’s Office • Copy of Escrow Closure Notice Exhibit L EXHIBIT M – APPRAISAL SPECIFICATIONS For property acquisitions funded this Funding AgreementGrant agreement, the Funding Recipient Grantee must submit an appraisal for review and approval by the Department of General Services or DWR’s Real Estate Branch prior to reimbursement or depositing State funds into an escrow account. All appraisal reports, regardless of report format, must include all applicable Appraisal Specifications below. Appraisals for a total compensation of $150,000 or more shall be reported as a Self-Contained Appraisal Report. Appraisals for a total compensation of less than $150,000 may be reported as a Summary Appraisal Report, which includes all information necessary to arrive at the appraiser’s conclusion. Appraisal Specifications 14, 16, 21, 23-25, and 28 shall be narrative analysis regardless of the reporting format. Title page with sufficient identification of appraisal assignment. Letter of transmittal summarizing important assumptions and conclusions, value estimate, date of value and date of report. Table of contents. Assumptions and Limiting Conditions, Extraordinary Assumptions, and Hypothetical Conditions as needed. Description of the scope of work, including the extent of data collection and limitations, if any, in obtaining relevant data. Definition of Fair Market Value, as defined by Code of Civil Procedure, section 1263.320. Photographs of subject property and comparable data, including significant physical features and the interior of structural improvements, if applicable. Copies of Tax Assessor’s plat map with the subject marked along with all contiguous assessor’s parcels that depict the ownership. A legal description of the subject property, if available. For large, remote or inaccessible parcels, provide aerial photographs or topographical maps depicting the subject boundaries. Three-year subject property history, including sales, listings, leases, options, zoning, applications for permits, or other documents or facts that might indicate or affect use or value. Discussion of any current Agreement of Sale, option, or listing of subject property. This issue required increased diligence since state agencies often utilize non-profit organizations to quickly acquire sensitive-habitat parcels using Option Agreements. However, due to confidentiality clauses, the terms of the Option are often not disclosed to the state. If the appraiser discovers evidence of an Option or the possible existence of an Option, and the terms cannot be disclosed due to a confidentiality clause, then the appraiser is to cease work and contact the client. Regional, area, and neighborhood analyses. This information may be presented in a summary format. Market conditions and trends including identification of the relevant market area, a discussion of supply and demand within the relevant market area, and a discussion of the relevant market factors impacting demand for site acquisition and leasing within the relevant market area. This information may be presented in a summary format. Discussion of subject land/site characteristics (size, topography, current use, elevations, zoning and land use issues, development entitlements, General Plan designation, utilities, offsite improvements, access, land features such as levees and creeks, offsite improvements, easements and encumbrances, covenants, conditions and restrictions, flood and earthquake information, toxic hazards, water rights, mineral rights, toxic hazards, taxes and assessments, etc.). Description of subject improvements including all structures, square footage, physical age, type of construction, quality of construction, condition of improvements and/or identification of any permanent plantings. Discussion of construction cost methodology, costs included and excluded, accrued depreciation from all causes, remaining economic life, items of deferred maintenance and cost to cure, and incurable items. Construction cost data must include cost data source, date of estimate or date of publication of cost manual, section and page reference of cost manual, copies of cost estimate if provided from another source, replacement or reproduction cost method used, and supporting calculations including worksheets or spreadsheets. Subject property leasing and operating cost history, including all items of income and expense. Analysis and conclusion of the larger parcel for partial taking appraisals. For partial taking appraisals, Appraisal Specifications generally apply to the larger parcel rather than an ownership where the larger parcel is not the entire ownership. Include a copy of a recent preliminary title report (within the past year) as an appraisal exhibit. Discuss the title exceptions and analyze the effect of title exceptions on fair market value. For appraisals of partial takings or easements, a detailed description of the taking or easement area including surface features and topography, easements, encumbrances or improvements including levees within the subject partial take or easement, and whether the take area is characteristic of the larger parcel. Any characteristics of the taking area, including existing pre-project levees that render the take area different from the larger parcel must be addressed in the valuation. Opinion of highest and best use for the subject property, based on an in depth analysis supporting the concluded use which includes the detail required by the complexity of the analysis. Such support typically requires a discussion of the four criteria of tests utilized to determine the highest and best use of a property. If alternative feasible uses exist, explain and support market, development, cash flow, and risk factors leading to an ultimate highest and best use decision. All approaches to market value applicable to the property type and in the subject market. Explain and support the exclusion of any usual approaches to value. Map(s) showing all comparable properties in relation to the subject property. Photographs and plat maps of comparable properties. In depth discussion of comparable properties, similarities and differences compared to the subject, adjustments to the comparable data, and discussion of the reliability and credibility of the data as it relates to the indicated subject property value. Improved comparable sales which are used to compare to vacant land subject properties must include an allocation between land and improvements, using methodology similar to methodology used in item 16 above to estimate improvement value when possible, with an explanation of the methodology used. Comparable data sheets. For sales, include information on grantor/grantee, sale/recordation dates, listed or asking price as of the date of sale, highest and best use, financing, conditions of sale, buyer motivation, sufficient location information (street address, post mile, and/or distance from local landmarks such as bridges, road intersections, structures, etc.), land/site characteristics, improvements, source of any allocation of sale price between land and improvements, and confirming source. For listings, also include marketing time from list date to effective date of the appraisal, original list price, changes in list price, broker feedback, if available. For leases, include significant information such as lessor/lessee, lease date and term, type of lease, rent and escalation, expenses, size of space leased, tenant improvement allowance, concessions, use restrictions, options, and confirming source. When comparing improved sales to a vacant land subject, the contributory value of the improvements must be segregated from the land value. For appraisals of easements, a before and after analysis of the burden of the easement on the fee, with attention to how the easement affects highest and best use in the after condition. An Easement Valuation Matrix or generalized easement valuation references may be used ONLY as a reference for a secondary basis of value. For partial taking and easement appraisals, valuation of the remainder in the after condition and analysis and identification of any change in highest and best use or other characteristics in the after condition, to establish severance damages to the remainder in the after condition, and a discussion of special and general benefits, and cost to cure damages or construction contract work. There are occasions where properties involve water rights, minerals, or salable timber that require separate valuations. If an appraisal assignment includes water rights, minerals, or merchantable timber that requires separate valuation, the valuation of the water rights, minerals, or merchantable timber must be completed by a credentialed subject matter specialist. For partial taking and easement appraisals, presentation of the valuation in California partial taking acquisition required format. Implied dedication statement. Reconciliation and final value estimate. Include analysis and comparison of the comparable sales to the subject, and explain and support conclusions reached. Discussion of any departures taken in the development of the appraisal. Signed Certification consistent with the language found in Uniform Standards of Professional Appraisal Practice. If applicable, in addition to the above, appraisals of telecommunication sites must also provide: A discussion of market conditions and trends including identification of the relevant market, a discussion of supply and demand within the relevant market area and a discussion of the relevant market factors impacting demand for site acquisition and leasing within the relevant market area. An analysis of other (ground and vault) leases comparable to subject property. Factors to be discussed in the analysis include the latitude, longitude, type of tower, tower height, number of rack spaces, number of racks occupied, placement of racks, power source and adequacy, back-up power, vault and site improvements description and location on site, other utilities; access, and road maintenance costs. Exhibit M

INFORMATION NEEDED FOR ESCROW PROCESSING AND CLOSURE. NOT APPLICABLE The Funding Recipient Grantee must provide the following documents to the State Project Representative during the escrow process. Property acquisition escrow documents must be submitted within the term of this Funding Grant Agreement and after a qualified appraisal has been approved. • Name and Address of the Title Company Handling the Escrow • Escrow Number • Name of Escrow Officer • Escrow Officer’s Phone Number • Dollar Amount Needed to Close Escrow • Legal Description of Property Being Acquired • Assessor’s Parcel Number(s) of Property Being Acquired • Copy of Title Insurance Report • Entity Taking Title as Named Insured on Title Insurance Policy • Copy of Escrow Instructions in Draft Form Prior to Recording for Review Purposes • Copy of Final Escrow Instructions • Verification that all Encumbrances (Liens, Back Taxes, and Similar Obligations) have been Cleared Prior to Recording the Deed to Transfer Title • Copy of Deed for Review Purposes Prior to Recording • Copy of Deed as Recorded in County Recorder’s Office • Copy of Escrow Closure Notice Exhibit L APPRAISAL SPECIFICATIONS For property acquisitions EXHIBIT M INVOICE GUIDANCE FOR ADMINISTRATIVE AND OVERHEAD CHARGES The funds provided pursuant to this Agreement may only be used for costs that are directly related to the funded this Funding AgreementProject. The following provides a list of typical requirements for invoicing, specifically providing guidance on the Funding Recipient must submit appropriate methods for invoicing administrative and direct overhead charges. Administration Charges Indirect and General Overhead (i.e., indirect overhead) charges are not an appraisal allowable expense for review and approval by the Department of General Services or DWR’s Real Estate Branch prior to reimbursement or depositing State funds into an escrow account. All appraisal reports, regardless of report format, must include all applicable Appraisal Specifications below. Appraisals for a total compensation of $150,000 or more shall be reported as a Self-Contained Appraisal Report. Appraisals for a total compensation of less than $150,000 may be reported as a Summary Appraisal Report, which includes all information necessary to arrive at the appraiser’s conclusion. Appraisal Specifications 14, 16, 21, 23-25, and 28 shall be narrative analysis regardless of the reporting format. Title page with sufficient identification of appraisal assignment. Letter of transmittal summarizing important assumptions and conclusions, value estimate, date of value and date of report. Table of contents. Assumptions and Limiting Conditions, Extraordinary Assumptions, and Hypothetical Conditions as needed. Description of the scope of work, including the extent of data collection and limitations, if any, in obtaining relevant data. Definition of Fair Market Value, as defined by Code of Civil Procedure, section 1263.320. Photographs of subject property and comparable data, including significant physical features and the interior of structural improvements, if applicable. Copies of Tax Assessor’s plat map with the subject marked along with all contiguous assessor’s parcels that depict the ownership. A legal description of the subject property, if available. For large, remote or inaccessible parcels, provide aerial photographs or topographical maps depicting the subject boundaries. Three-year subject property history, including sales, listings, leases, options, zoning, applications for permits, or other documents or facts that might indicate or affect use or value. Discussion of any current Agreement of Sale, option, or listing of subject property. This issue required increased diligence since state agencies often utilize non-profit organizations to quickly acquire sensitive-habitat parcels using Option Agreementsreimbursement. However, due to confidentiality clauses, the terms of the Option administrative expenses that are often not disclosed apportioned directly to the stateproject are eligible for reimbursement. If Costs such as rent, office supplies, fringe benefits, etc. can be “Direct Costs” and are eligible expenses as long as: • There is a consistent, articulated method for how the appraiser discovers evidence of an Option or costs are allocated that is submitted and approved by the possible existence of an Option, Grant Manager. The allocation method must be fully documented for auditors. • A “fully-burdened labor rate” can be used to capture allowable administrative costs. • The administrative/overhead costs can never include: o Non-project specific personnel and the terms cannot be disclosed due to a confidentiality clause, then the appraiser is to cease work and contact the client. Regional, area, and neighborhood analyses. This information may be presented in a summary format. Market conditions and trends including identification of the relevant market area, a discussion of supply and demand accounting services performed within the relevant market area, Grantee or an LPS organization o Generic markup o Tuition o Conference fees o Building and equipment depreciation or use allowances • Using a discussion of the relevant market factors impacting demand for site acquisition and leasing within the relevant market area. This information may be presented in a summary format. Discussion of subject land/site characteristics (size, topography, current use, elevations, zoning and land use issues, development entitlements, General Plan designation, utilities, offsite improvements, access, land features such as levees and creeks, offsite improvements, easements and encumbrances, covenants, conditions and restrictions, flood and earthquake information, toxic hazards, water rights, mineral rights, toxic hazards, taxes and assessments, etc.). Description of subject improvements including all structures, square footage, physical age, type of construction, quality of construction, condition of improvements and/or identification of any permanent plantings. Discussion of construction cost methodology, costs included and excluded, accrued depreciation from all causes, remaining economic life, items of deferred maintenance and cost to cure, and incurable items. Construction cost data must include cost data source, date of estimate or date of publication of cost manual, section and page reference of cost manual, copies of cost estimate if provided from another source, replacement or reproduction cost method used, and supporting calculations including worksheets or spreadsheets. Subject property leasing and operating cost history, including all items of income and expense. Analysis and conclusion of the larger parcel for partial taking appraisals. For partial taking appraisals, Appraisal Specifications generally apply to the larger parcel rather than an ownership where the larger parcel general overhead percentage is not the entire ownership. Include a copy of a recent preliminary title report (within the past year) as an appraisal exhibit. Discuss the title exceptions and analyze the effect of title exceptions on fair market value. For appraisals of partial takings or easements, a detailed description of the taking or easement area including surface features and topography, easements, encumbrances or improvements including levees within the subject partial take or easement, and whether the take area is characteristic of the larger parcel. Any characteristics of the taking area, including existing pre-project levees that render the take area different from the larger parcel must be addressed in the valuation. Opinion of highest and best use for the subject property, based on an in depth analysis supporting the concluded use which includes the detail required by the complexity of the analysis. Such support typically requires a discussion of the four criteria of tests utilized to determine the highest and best use of a property. If alternative feasible uses exist, explain and support market, development, cash flow, and risk factors leading to an ultimate highest and best use decision. All approaches to market value applicable to the property type and in the subject market. Explain and support the exclusion of any usual approaches to value. Map(s) showing all comparable properties in relation to the subject property. Photographs and plat maps of comparable properties. In depth discussion of comparable properties, similarities and differences compared to the subject, adjustments to the comparable data, and discussion of the reliability and credibility of the data as it relates to the indicated subject property value. Improved comparable sales which are used to compare to vacant land subject properties must include an allocation between land and improvements, using methodology similar to methodology used in item 16 above to estimate improvement value when possible, with an explanation of the methodology used. Comparable data sheets. For sales, include information on grantor/grantee, sale/recordation dates, listed or asking price as of the date of sale, highest and best use, financing, conditions of sale, buyer motivation, sufficient location information (street address, post mile, and/or distance from local landmarks such as bridges, road intersections, structures, etc.), land/site characteristics, improvements, source of any allocation of sale price between land and improvements, and confirming source. For listings, also include marketing time from list date to effective date of the appraisal, original list price, changes in list price, broker feedback, if available. For leases, include significant information such as lessor/lessee, lease date and term, type of lease, rent and escalation, expenses, size of space leased, tenant improvement allowance, concessions, use restrictions, options, and confirming source. When comparing improved sales to a vacant land subject, the contributory value of the improvements must be segregated from the land value. For appraisals of easements, a before and after analysis of the burden of the easement on the fee, with attention to how the easement affects highest and best use in the after condition. An Easement Valuation Matrix or generalized easement valuation references may be used ONLY as a reference for a secondary basis of value. For partial taking and easement appraisals, valuation of the remainder in the after condition and analysis and identification of any change in highest and best use or other characteristics in the after condition, to establish severance damages to the remainder in the after condition, and a discussion of special and general benefits, and cost to cure damages or construction contract work. There are occasions where properties involve water rights, minerals, or salable timber that require separate valuations. If an appraisal assignment includes water rights, minerals, or merchantable timber that requires separate valuation, the valuation of the water rights, minerals, or merchantable timber must be completed by a credentialed subject matter specialist. For partial taking and easement appraisals, presentation of the valuation in California partial taking acquisition required format. Implied dedication statement. Reconciliation and final value estimate. Include analysis and comparison of the comparable sales to the subject, and explain and support conclusions reached. Discussion of any departures taken in the development of the appraisal. Signed Certification consistent with the language found in Uniform Standards of Professional Appraisal Practice. If applicable, in addition to the above, appraisals of telecommunication sites must also provide: A discussion of market conditions and trends including identification of the relevant market, a discussion of supply and demand within the relevant market area and a discussion of the relevant market factors impacting demand for site acquisition and leasing within the relevant market area. An analysis of other (ground and vault) leases comparable to subject property. Factors to be discussed in the analysis include the latitude, longitude, type of tower, tower height, number of rack spaces, number of racks occupied, placement of racks, power source and adequacy, back-up power, vault and site improvements description and location on site, other utilities; access, and road maintenance costs. Exhibit Mnever allowed Labor Rates