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<br />I <br />I <br />. <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />It <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />{' <br />I <br /> <br />IUIml R. IIAYKII 6 .co. <br /> <br />. <br /> <br />43 <br /> <br />A.l'I'Vr.w., <br /> <br />WATER RIGHTS <br /> <br />General Conditions <br /> <br /> <br />Our market data analysis indicates that water rights are included with 1he <br /> <br /> <br />sale of land irrigated. When pump irrigation is used the equipment is often <br /> <br /> <br />recited in the deed. The consideration paid for the property usually included <br /> <br /> <br />water rights and/or pump irrigation facilities. When confirming sales we ascer- <br /> <br />tained, in each case, what water rights or facilities were included in the overall <br /> <br />consideration. <br /> <br />Since it is the common practice in the area to convey the water rights with <br /> <br />the property we have included these rights in our per acre valuation. <br /> <br />Basic Assumptions <br />As noted elsewhere in this report our opinion of land value in relation to <br /> <br />water rights has been based on the following assumptions: <br /> <br />1. We have assumed that existing water rights would be conveyed to <br /> <br /> <br />the acquiring authority at the time of acquisition. <br /> <br /> <br />2. We have assumed that the point of diversion of affected canals could <br /> <br /> <br />be changed without loss of priority and that these canals can be re- <br />aligned to serve the remaining areas. <br /> <br />3. We have assumed that the cost of changes of point of diversion, re- <br /> <br />alignment of canals and other necessary expenses required to bring <br /> <br />the canal to a like operable condition would be borne by the taking <br /> <br />authority. <br /> <br />,\ <br /> <br />.' <br />. <br />