Misc. Website Items 2013 LLA Reserve Study | Page 7

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3.4 Standards of Reference

Our data files on similar projects

For your reference, the following definitions may be helpful:
Average: Average compares the item to what is typical for construction in
the geographic area in which the inspection occurs. It also compares it to
buildings of similar age and construction type. Since construction
practices vary from region to region, average is intended to be region
specific.
Excellent: Component or system is in "as new" condition, requiring no
rehabilitation and should perform in accordance with expected
performance.
Good: Component or system is sound and performing its function,
although it may show signs of normal wear and tear. Some minor
rehabilitation work may be required.
Fair: Component or system falls into one or more of the following
categories: a) Evidence of previous repairs not in compliance with
commonly accepted practice, b) Workmanship not in compliance with
commonly accepted standards, c) Component or system is obsolete, d)
Component or system approaching end of expected performance. Repair
or replacement is required to prevent further deterioration or to prolong
expected life.
Poor: Component or system has either failed or cannot be relied upon to
continue performing its original function as a result of having exceeded its
expected performance, excessive deferred maintenance, or state of
disrepair. Present condition could contribute to or cause the deterioration
of other adjoining elements or systems. Repair or replacement is required.
Adequate: A component or system is of a capacity that is defined as
enough for what is required, sufficient, suitable, and/or conforms to
standard construction practices.
Repair/Replacement Reserves - Non-annual maintenance items that will
require significant expenditure over the life of the buildings. Included are
items that will reach the end of their estimated useful life during the course
of this forecast, or, in the opinion of the investigator, will require attention
during that time.
EUL – Expected Useful Life of a component
RUL – Remaining Useful Life of a component
All directions (left, right, rear, etc.), when used, are taken from the
viewpoint of an observer standing in front of a building and facing it.

Lake Linganore
New Market, Maryland
Page 5