2017-05-24 Special Meeting Agenda

SPECIAL MEETING AGENDA   24 MAY 2017




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SPECIAL MEETING AGENDA                                                                24 MAY 2017

                                       VALUATION ADDENDUM

 Market Value

 “Market Value” is defined as “The estimated amount for which an asset should exchange on the date of
 valuation between a willing buyer and a willing seller in an arm’s length transaction after proper marketing
 wherein the parties had each acted knowledgeably, prudently and without compulsion”.

 Easements/Encumbrances

 The title deed has not been searched to verify if any encumbrance or easement exists. This valuation is
 assessed on the title being free from any encumbrance or easement other than a registered mortgage.

  Improvements
 We have not carried out a structural survey of the buildings and were unable to inspect parts that were
 unexposed or inaccessible and therefore cannot say that such parts are free from defects.
 Our valuation is subject to satisfactory building and pest reports and Council approval of amenities blocks
 and associated buildings.
 Our valuation excludes all temporary or unapproved structures.

 Basis of Valuation

 We have assessed our valuation on the basis of Freehold Title with vacant possession. Our valuation is
 determined on the basis that the property, the title thereto and its use is not affected by any other matter
 than that mentioned in this report. Specifically, we have assumed that the property is not affected by
 financial liens of any nature.
 Building Replacement costs have been adopted from Rawlinsons Australian Construction Handbook
 We have neither undertaken, requested, nor sighted the following:

 «   Detailed Title Search or a photocopy of the Certificate of Title;
 «   Written Town Planning Certificate;
 =   Inspection of the Improvements by the Local Authority Building or Health Departments;
 =   Structural Survey of the Improvements by an Engineer;
 «   Identification Survey by a Licensed Surveyor;
 =   Queensland Transport Roads Search;
 »   Written Flood Search;

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