Complete & Limited Scope Appraisals All Appraisals performed by Value Resource Group, Inc. are thoroughly Researched, Documented, and Reported for the purpose of estimating value under the type of value concept chosen by the client.  This process, from start to finish, remains the Responsibility of each Chief Appraiser, which is in line with our own internal policy of maintaining Individualized Education, Current Market Economic Awareness, and Professional Skills. It is VRG's goal to stay ahead of the curve in providing our clients with the absolute best in monitoring tools.  Therefore, we are continually adapting our appraisal model pursuant to our clients changing needs and requirements; as such, the following innovations have been incorporated into our inventory appraisal format. Ø                   An expanded narrative Exit Strategy that provides a more detailed analysis of liquidation options, which is based on a comparative analysis to actual liquidations.   Ø                   An expanded analysis of Liquidation Expenses that would be incurred throughout the holding period.   Ø                   A full explication of Terms and Duration of Leased Properties, as well as all expenses attendant to non-owner facilities.   Ø                   A thorough listing of Lender Monitoring Requirements unique to the subject, which includes details of provided reports, reports required, and any inherent reporting restrictions.   Ø                   Full disclosure and quantification of any Off-site, Consigned, or other Extraordinary Inventories for which more precise or frequent lender auditing may be required.   Ø                   A narrative discussion of any Potential Negative Factors that may diminish value over time if not properly monitored. VRG will endeavor to continue to adapt our appraisal formatting to comply with the increasingly complex reporting requirements our clients face.  As always, we look forward to any comments and suggestions as the formal appraisal process continues to evolve, and we sincerely thank those of our clients who have given us direction on how to make the inventory appraisal more “user-friendly”. In addition to the above, and any other special enhancements we, as VRG, provide in our appraisal reports, the following represents a list and explanation of the various types and formats of appraisal reports available according to the current regulations of the Uniform Standards of Professional Appraisal Practice. For access to a VRG Sample Appraisal for Inventory, Aircraft, Aircraft Parts, and Machinery & Equipment, click on the respective links below. Report Types: Complete Appraisal:  An estimate of value performed without invoking the Departure Provisions of USPAP - Represents an assignment whereby the appraiser estimates the value of the subject without any atypical assumptions or conditions and "certifies" without reservations. A Complete Appraisal in Summary Format is the industry norm representing an unbiased third-party opinion of value, which can be fully supported via documentation contained in the project file. Limited Appraisal:  An estimate of value resulting from invoking the Departure Provision of USPAP - Represents an assignment whereby the appraiser estimates the value of subject considering any assumptions or conditions that would otherwise be atypical, and "certifies" with reservations. Limited appraisals often do not withstand scrutiny under examination.  The definition implies that it is "something less than a complete appraisal" and, therefore, has not been documented thoroughly. Report Formats: Summary Format:  This format covers all aspects relative to a Complete or Limited Scope Appraisal.  However, the presentation of information is more concise, all data references are considered, and only results of any analyses are provided.  Most appraisals are provided in this format. Restricted Format:  This format offers a minimum presentation of information.  Its use is restricted to the client and only for the specific purpose for which it is requested. Self-Contained Format:  This Format provides the most comprehensive and detailed information available, and the most complete analysis as it relates to the valuation of the assets in review.  This format is seldom used. Ø            Value Concept Definitions and Explanations of Value