Inspectors Initials
Property Address ~10~, ~12~
*This verification form is valid for up to five (5) years provided no material changes have been made to the structure or
inaccuracies found on the form.
OIR-B1-1802 (Rev. 01/12) Adopted by Rule 69O-170.0155
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Replacement Cost Valuation
RESERVE STUDIES | INSURANCE APPRAISALS | WIND MITIGATION
Driftwood Sands Condominium
Indian Rocks Beach, Florida 33785
Prepared Exclusively for Driftwood Sands Condominium Association, Inc.
As of 06-21-2024 | FPAT File# REN2422825
FelteProperty Assessment Team
866.568.7853 | www.fpat.com
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FPAT File# REN2422825
June 21, 2024
Driftwood Sands Condominium Association, Inc.
c/o Board of Directors
2618 Gulf Blvd.
Indian Rocks Beach, Florida 33785
Re: Replacement Cost Valuation – Driftwood Sands Condominium – FPAT File#
REN2422825
Dear Board of Directors:
In accordance with your request and our agreement, Felten Professional Adjustment Team,
LLC. has performed an Insurance Replacement Cost Valuation for Driftwood Sands
Condominium located in Indian Rocks Beach, Florida. The purpose of this report is to
establish accurate Hazard and Flood Insurance Replacement Costs for all buildings and site
improvements insured by Driftwood Sands Condominium Association, Inc.. This report will
ensure the Insurance Carrier is collecting accurate premiums and co-insurance
requirement are properly met.
If you have any questions regarding this Replacement Cost Valuation Report, please contact
us at (866)-568-7853. We look forward to doing business with you in the future.
Thank you,
Brad Felten, Managing Member
Felten Property Assessment Team
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Introduction
This Replacement Cost Valuation has been prepared at the request of Driftwood Sands
Condominium Association, Inc. for Driftwood Sands Condominium . The subject property is
a Condominium Association located in Indian Rocks Beach, Florida. The purpose of this
report is to establish accurate hazard and flood insurance replacement costs for all
buildings and site improvements insured by Driftwood Sands Condominium Association,
Inc.. This report will ensure the Insurance Carrier is collecting accurate premiums and co-
insurance requirement are properly met.
This report is not a real-estate appraisal. The values displayed within this report represent
only the replacement costs of the subject buildings and site improvements. It must be noted
that estimated replacement cost values do not consider land value, market value or
personal property. All elements of the buildings and site improvements that are considered
relevant to the insurance policy have been thoroughly analyzed and inspected. The values
presented in this report are subject to all assumptions, limiting conditions and certifications
contained in this report.
A qualified representative of Felten Property Assessment Team (FPAT) performed a physical
inspection of the property on June 21, 2024. The interior and exterior of all buildings and/or
site improvements described in this Replacement Cost Valuation Report were inspected
thoroughly to determine construction design, quality, size and occupancy. Building plans
and association documents, where pertinent were reviewed.
Subject of Report
This Replacement Cost Valuation Report contains the following risk(s):
Buildings:
45-Unit Risk
2618 Gulf Blvd
Pool Pavilion
2618 Gulf Blvd
Property Site Improvements:
8-Stall Carport
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Perimeter Fence
Shuffleboard Courts, 2 of 2
Pool Deck
Pool Deck, Wood
Pool Heater
Swimming Pool
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As a result of our replacement cost valuation investigation, we have estimated the total
insurable replacement costs for all buildings and site improvements listed above and
located at Driftwood Sands Condominium as of June 21, 2024 as follows:
Hazard Insurance
Replacement Cost
$13,374,976
Less Insurance Exclusions
$250,319
Insurable Replacement Cost
$13,124,657
Flood Insurance
Replacement Cost
$15,759,676
NFIP Insurable Replacement Cost
$11,250,000
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Certification of Valuation
This is to certify the enclosed Replacement Cost Valuation report prepared at the request
of Driftwood Sands Condominium Association, Inc. is the result of work performed by Felten
Property Assessment Team and one or more of the individuals listed below.
In addition, we certify that, to the best of our knowledge and belief:
 All facts contained in this report are true and accurate.
 FPAT has no present or prospective interest in the subject property of this report,
and also has no personal interest with respect to the parties involved.
 FPAT has no bias with respect to the subject property of this report or to the parties
involved with this assignment.
 Our engagement in this assignment was not contingent upon producing or
reporting predetermined results.
 Our compensation is not contingent on any action or event resulting from this
report.
 We have the knowledge and experience to generate an accurate Replacement Cost
Valuation for insurance purposes of all buildings and/or site improvements
contained within this report.
 We have performed a physical inspection of the subject risk(s).
Key Staff:
Brad Felten
Sr. All-Lines Adjuster #E149535
Flood Certification #06060373
Certified Wind & Hurricane Mitigation Inspector
Professional Reserve Analyst (PRA) # 2265
Ian Wright
All-Lines Adjuster # W273704
Certified Wind & Hurricane Mitigation Inspector
John Felten
Sr. All-Lines Adjuster # D075772
Flood Certification # 05030007
Certified Building Contractor # CBC1255984
Certified Wind & Hurricane Mitigation Inspector
Brad Felten, Managing Member
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Limiting Conditions
 The property description supplied to Felten Property Assessment Team, hereafter
known as FPAT, is assumed to be correct.
 No survey of the property has been made or reviewed by FPAT, and no
responsibility is assumed in connection with such matters. Illustrative material,
including maps and plot plans, utilized in this report are included only to assist the
reader in visualizing the property. Property dimensions and sizes are considered to
be approximate.
 No responsibility is assumed for matters of a legal nature affecting title to the
property, nor is any opinion of title rendered. Property titles are assumed to be
good and merchantable unless otherwise stated.

Information furnished by others is believed to be true, correct, and reliable.
However, no responsibility for its accuracy is assumed by FPAT.
 All mortgages, liens, encumbrances, leases, and servitudes have been disregarded
unless so specified within the report. The property is assumed to be under
responsible, financially sound ownership and competent management.

It is assumed that there are no hidden or unapparent conditions of the property,
subsoil, or structures, which would render the property more or less valuable. No
responsibility is assumed for such conditions or for arranging for engineering
studies, which may be required to discover them.
 Unless otherwise stated in this report, the existence of hazardous material, which
may or may not be present on the property, was not observed by FPAT. However,
FPAT is not qualified to detect such substances. The presence of substances such as
asbestos, urea-formaldehyde foam insulation, or other potentially hazardous
materials may affect the value of the property. The value conclusions in this report
are predicated on the assumption that there are no such materials on or in the
property that would cause a loss of value. No responsibility is assumed for any such
conditions, or for the expertise required to discover them. The client is urged to
retain an expert in this field if desired. The analysis and value conclusions in this
report are null and void should any hazardous material be discovered.
 Unless otherwise stated in this report, no environmental impact studies were either
requested or made in conjunction with this report. FPAT reserves the rights to alter,
amend, revise, or rescind any opinions of value based upon any subsequent
environmental impact studies, research, or investigation.

It is assumed that there is full compliance with all-applicable federal, state and local
environmental regulations and laws unless noncompliance is specified, defined,
and considered in this report.
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
It is assumed that all applicable zoning and use regulations and restrictions have
been complied with, unless non-conformity has been specified, defined and
considered in this report.

It is assumed that all required licenses, certificates of occupancy, consents, or other
legislative or
 administrative authority from any local, state, or federal governmental or private
entity or organization have been or can be obtained or renewed for any use on
which the value estimate is based.
 FPAT will not be required to give testimony or appear in court because of having
made this report, unless arrangements have previously been made.
 Possession of this report, or a copy thereof, does not carry with it the right of
publication. It may not be used for any purpose by any person other than the client
without the written consent of FPAT and in any event, only with properly written
qualification and only in its entirety.
 Neither all nor any part of the contents of this report, or copy thereof, shall be
conveyed to the public through advertising, public relations, news, sales, or any
other media without written consent and approval of FPAT.
 The liability of FPAT, it's employees, and subcontractors is limited to the client only.
 There is no accountability, obligation, or liability to any third party. If this report is
placed in the hands of anyone other than the client, the client shall make such party
aware of all limiting conditions and assumptions of the assignment and related
discussions. FPAT is in no way responsible for any costs incurred to discover or
correct any deficiencies of the property.
 The sole purpose of this report is for use in establishing insurance values.
 Acceptance and/or use of this report constitutes acceptance of the foregoing
assumptions and limiting conditions.
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Valuation Update Service
This Replacement Cost Valuation Report can be updated annually or based on the
requirements of the insurance carrier.
If there are any major changes to the subject risk(s) contained within this report or it has
been five years since our last site analysis another inspection may be necessary. Normal
maintenance does not require a physical inspection.
Please call us at 866-568-7853 or email us at info@fpat.com for pricing and more
information.
Note-Part of Chapter 718, Florida Statutes, addresses the independent insurance appraisal requirements for condominiums.
Below is an excerpt from this Chapter which addresses this requirement.
Taken from Part I GENERAL PROVISIONS (ss.718.101-718.129)
s. 718.111(11)
(11) INSURANCE.—In order to protect the safety, health, and welfare of the people of the State of Florida and to ensure
consistency in the provision of insurance coverage to condominiums and their unit owners, this subsection applies to every
residential condominium in the state, regardless of the date of its declaration of condominium. It is the intent of the
Legislature to encourage lower or stable insurance premiums for associations described in this subsection.
(a) Adequate property insurance, regardless of any requirement in the declaration of condominium for coverage by the
association for full insurable value, replacement cost, or similar coverage, must be based on the replacement cost of the
property to be insured as determined by an independent insurance appraisal or update of a prior appraisal. The
replacement cost must be determined at least once every 36 months.
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Reserve Study Information
Congratulations you have earned a significant discount on a Full Reserve Study for
this property!
A Reserve Study is a long-term capital budget planning tool which identifies the
current status of the reserve fund and a stable and equitable funding plan to offset
ongoing deterioration, resulting in sufficient funds when those anticipated major
common area expenditures actually occur. The reserve study consists of two parts:
the physical analysis and the financial analysis.
Because of the extensive field work we have already completed in order to prepare
this Replacement Cost Valuation, we are able to provide a significant discount on
our Reserve Study Services.
To receive a FREE proposal simply click on the link below to fill out our easy to use
web form.
Click Here to request Free Reserve Study Proposal
or Call 866-568-7853
or Email info@fpat.com
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Methodology
To arrive at an accurate Replacement Cost Valuation estimate our team must first make a
diligent effort to determine what the insurable items are and how they are insured. This is
accomplished by consulting with property owners, property managers, insurance agents
and reviewing pertinent documents. If the Replacement Cost Valuation is being performed
for the first time or changes have taken place since the last inspection, a detailed site
inspection will be conducted. One of our qualified team members will investigate building
occupancy, size, building plans(when available), construction type, quality, finishes, etc. The
subject risk(s) will be physically measured and a detailed sketch will be provided with the
report. After all the property data is obtained the Replacement Cost Valuation and report
process may begin. The estimated values in this report are arrived at through a number of
methods, the primary method is the CoreLogic Commercial Express Building Valuation
System. CoreLogic/MSB is the leading provider of building cost data, estimating software
and property appraisal data to the insurance industry in the U.S. All relevant data is
processed using a Reconstruction Cost Database. Reconstruction Cost provides the cost to
reconstruct, at current prices, an exact duplicate or replica of the building, using like kind
and quality materials, construction standards, design, layout and quality of workmanship.
It is important to note the database used in this report recognizes the distinctions between
Replacement Cost New and Reconstruction Cost with component-based or "total
component" valuation and claims estimating technologies. Our total component estimating
technologies calculate Reconstruction Cost by using formulas and databases to analyze and
select detailed component parts of the buildings. Estimates are then assembled in a risk-
specific manner, using local building codes, structural considerations and local material and
labor costs. The distinctions between Replacement Cost New valuations and Reconstruction
Cost valuations are important to understand because a carriers goal is to provide the
insured with an equitable and fair settlement. Additionally, because policy and settlement
terms are frequently subject to negotiation and court interpretation, it is essential that
carriers receive premiums based on the fullest exposure on each building - the building's
Reconstruction Cost.
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Explanations & Definitions
Terminology
Additions
Equipment, external structures, building items, site improvements,
or miscellaneous adjustments added to the valuation. These items
are added to the valuation in addition to the Gross Floor Area (e.g.
balconies, exterior walkways, canopies, auxiliary generators).
Architect’s Fees
Architect's fees is compensation paid for architectural or
engineering services rendered. The default percentage is 7% for
commercial valuations and 0% for agricultural valuations.
Co-Insurance
Requirement
The minimum amount of insurance that must be carried on the
policy, usually 80%, but your co-insurance requirement for the
policy may be different as determined by your company.
Depreciated
Replacement
Cost
The remaining value after the deduction of Insurance Exclusions
and Physical Depreciation from the Replacement Cost.
Depreciation
The loss in value due to deterioration caused by usage, wear and
tear, and the elements.
et al
Meaning all other buildings insured by the client
Flood Insurance
Specific insurance coverage against property loss from flooding.
FPAT
Felten Professional Adjustment Team, LLC.
Gross Floor Area
(GFA)
The total floor area (measured in square feet) of all floors in the
building considered in the Replacement Cost Valuation. Areas such
as balconies, canopies, etc. are not included in the Gross Floor Area.
These items are added to the valuation as “Additions”.
Hazard Insurance
Insurance that protects a property owner against damage caused
by fires, severe storms, earthquakes or other natural events.
Hazard Insurance does not cover the peril of flooding.
HVAC
Heating, Ventilation and Air-Conditioning Systems
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Insurable
Replacement
Cost
The Replacement Cost of the building or site improvement less
applicable Insurance Exclusions.
Insurable
Responsibilities
Defines which parties are responsible for obtaining insurance
coverage of the different building components.
Insurance
Exclusions
Certain items of insured property are either not insured, or are
specifically excluded from coverage, depending on the particular
terms of an insurance policy. The three most common exclusions
are: basement excavation; below grade foundations; underground
plumbing, piping, and conduits.
Minimum
Requirements
Reporting requirements mandated by Citizens Property Insurance
Corporation.
New
Construction
The cost to replace at one time, an entire building of equal quality
and utility. The prices used for labor, materials, overhead, profit,
and fees are those in effect immediately prior to the occurrence of
the loss. The replacement employs modern materials, current
methods, designs, and layouts but does not take into consideration
improvements necessary to conform to changed building codes,
demolition, debris removal, site accessibility or site work, reuse of
building components or services, extraordinary fees, premiums for
materials or other contingencies. This is the methodology used for
real estate appraisals. None of the calculations in this report are
based on this methodology.
NFIP
National Flood Insurance Program managed by the Federal
Emergency Management Agency (FEMA)
Occupancy
Building Occupancy refers to the categorizing structures based on
their use.
Overhead &
Profit
The general cost of operating and maintaining a business, in
addition to specific costs related to a particular job, and the profit
from construction activities is referred to as overhead and profit.
The default percentage is 20% for commercial valuations and 16%
for agricultural valuations .
Partition Wall
A load bearing or non-load bearing wall that defines and area.
Party Wall
A dividing wall between adjoining units that is shared by the tenants
of each residence or business.
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Reconstruction
The cost to construct, at current prices, an exact duplicate or
replica of the building, using like kind and quality materials,
construction standards, design,
layout and quality of
workmanship, built to current building regulations and codes.
Reconstruction Cost also includes a number of site-specific and
process-related costs that are experienced when rebuilding after
a loss. Additional costs also include the added expense of
reconstructing a structure with limited site mobility, access and
owner involvement. All calculations in this report are based on this
methodology.
Replacement
Cost
In this report, the term Replacement Cost refers to the
“Reconstruction Cost” as defined above.
Type
Used to distinguish between buildings with the same number of
units of different construction and/or size. Usually for internal
organizational purposes.
Typical
Buildings or site improvements that could be considered identical.
Unit Abbreviations
Sq Ft - Square Feet
Lp Sm - Lump Sum
Dbl Ct - Double Tennis Court
Ln Ft - Linear Feet
Allow - Allowance
Ct - Court
Ea - Each
Hp - Horsepower
Units - Units
Sq Yds - Square Yards
Cu Ft - Cubic Feet
Cu Yds - Cubic Yards
Kw - Kilowatts
Pair - Pair
Sq - Squares (1 Sq = 100 sq ft)
Structural Definitions
Commercial Construction Types:
Frame (Frame - ISO 1)
A building where the exterior walls, bearing walls and partitions, and the structural floors
and roof, and their supports, are wood or light-gauge metal. This includes buildings where
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the wood or light-gauge metal has been combined with other materials to form composite
components such as wood or metal studs with brick or stone veneer, stucco, metal, vinyl,
etc. siding. Buildings classified a ISO Class 1 are characteristic of this type.
Masonry (Joisted Masonry - ISO 2)
A building that has the exterior walls constructed of a material such as brick, hollow or
solid concrete block, concrete, gypsum block, clay tile, stone, or similar materials. The
structural floors and roof are of wood or light-gauge metal. Buildings classified as ISO Class
2 are characteristic of this type.
Pre-Engineered Metal (Non-Combustible - ISO 3)
A building that employs a system of pre-engineered rigid steel framing members. The
exterior walls are of metal siding, sandwich panels, or masonry, and the roof is clad with
metal roofing or sandwich panels. Buildings classified as ISO Class 3 are characteristic of
this type.
Steel Frame (Masonry Non-Combustible - ISO 4)
A building where the structural floors and roof are of unprotected non-combustible
materials such as metal decking or concrete on metal decking, and are supported by an
unprotected structural steel frame, fire resistive exterior walls, or a combination of both.
Buildings classified as ISO Class 4 are characteristic of this type.
Protected Steel Frame (Modified Fire Resistive - ISO 5)
A building where the structural floors and roof, and their supports are of non-combustible
construction with a fire rating of not less than one hour. A building very similar to
Construction Type D Steel Frame; however, in Type E the non-combustible floor, roof, and
framing components are protected with sprayed-fiber fireproofing. Buildings classified as
ISO Class 5 are characteristic of this type.
Reinforced Concrete Frame (Fire Resistive - ISO 6)
A building where the structural floors and roof, and their supports are of materials such as
precast or poured-in-place reinforced concrete, with a fire resistive rating of not less than
two hours. Buildings classified as ISO Class 6 are characteristic of this type.
Agricultural Construction Types:
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Frame
A building where the exterior walls, bearing walls and partitions, and the structural floors
and roof, and their supports, are wood or light-gauge metal. This includes buildings
where the wood or light-gauge metal has been combined with other materials to form
composite components such as wood or metal studs with brick or stone veneer, stucco,
metal, vinyl, etc. siding.
Masonry
A building that has the exterior walls constructed of a material such as brick, hollow or
solid concrete block, concrete, gypsum block, clay tile, stone, or similar materials. The
structural floors and roof are of wood or light-gauge metal.
Pre-Engineered Metal
A building that employs a system of pre-engineered rigid steel framing members. The
exterior walls are of metal siding, sandwich panels, or masonry, and the roof is clad with
metal roofing or sandwich panels.
Pole Frame
A building where the structural skeleton consists of timbers or poles. The poles or posts
are set into the ground on top of concrete pads, and then back filled to anchor the post
structure.
Structural Insulated Panel (SIP)
A load bearing wall material, made up of rigid insulation sandwiched between two pieces
of plywood or other material.
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Hazard Insurance Responsibilities
The hazard insurance replacement cost valuations contained in this report are based on Florida Statute
718 concerning condominiums. Under Florida Statute 718 the interior finishes of each condominium unit
are the responsibility of the individual unit owners to insure. Any interior finishes located in common
areas, owned by the association, have been included in the replacement cost valuations. Additionally,
any buildings or site improvements not containing residential condominium units are the sole
responsibility of the association to insure. The hazard insurance valuations do not include any personal
property regardless of ownership.
Based Florida Statute 718 each individual unit owner is responsible for insuring the following
components located within the individual unit:
 Any floor finishes such as carpet, tile, vinyl, etc.
 Any ceiling finishes such as paint, texture, suspended ceilings, etc.
 Any wall finishes such as paint, wallpaper, paneling, etc.
 Any electrical fixtures, built-in cabinets, etc.
Florida Statue 718 has been amended several times since its origination. The amendment dated January
1, 2009 places the responsibility of insuring ALL heating & cooling (HVAC) equipment on the
condominium association. The condominium association is responsible for insuring 100% of the
building(s) HVAC equipment whether located on the roof, common area, ground, balcony or inside a
residential unit. The duty to maintain, repair, or replace HVAC equipment servicing individually owned
residential units is set by the declaration of conominium, while the duty to insure and repair after an
"insurable event" or "casualty" is set by the statute.
The Hazard Insurance Valuations do not include foundations or plumbing below grade (insurance
exclusions) or any personal property regardless of ownership.
The table on the following page is a Quick Reference Guide for determining insurable responsibilities.
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Hazard Insurance Quick Reference Table
AS GOVEREND BY FLORIDA STATUTE 718
BUILDING COMPONENT
ASSOCIATION
RESPONSIBILITY
UNIT OWNER
RESPONSIBILITY
1. ROOF AND ROOF COVERING
Structural Framing and Roof Cover
YES
NO
2. EXTERIOR WALLS
Paint, Stucco, Insulation, Studs, Concrete Block,
Brick, Doors, Windows, etc.
YES
NO
3. UNIT INTERIOR WALLS & CEILINGS
Party Walls & Ceilings, Unfinished drywall,
Insulation,
Metal, and Wood Studs
YES
NO
4a. COMMON AREA Interior Wall Studs, Block,
and
Drywall
YES
NO
4b. COMMON AREA Floor, Wall, and Ceiling
Finishes
YES
NO
5. UNIT INTERIOR Floor, Wall, & Ceiling Finishes,
Paint, Carpet, Tile, etc.
NO
YES
6. UNIT AND COMMON AREA
- Structural Floors
- Structural Ceilings
- Structural Walls
YES
NO
7. COMMON AREA Air Conditioners
YES
NO
8. COMMON AREA Electrical
YES
NO
9. INTERIOR UNIT COMPONENTS
- Appliances
- Electrical Fixtures
- Water Heaters
- Cabinets
NO
YES
10. INTERIOR UNIT Air Conditioners
YES
NO
***The above information is intended to assist in determining the general responsibilities for both parties***
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Flood Insurance Responsibilities
The Flood Insurance Replacement Cost Valuations contained in this report are based on
the National Flood Insurance Program (NFIP).
Loss Settlement: According to the NFIP guidelines, buildings that do not meet one of the
following requirements are not eligible for a RCV settlement:
1. A Single Family home insured to at least 80% of its Replacement Cost.
2. A Residential Condominium containing one or more family units insured to at least
80% of its Replacement Cost and in which at least 75% of the floor area is residential.
The NFIP utilizes three policy forms for structures based on their specific occupancy:
Policy Forms
Dwelling Form: The Dwelling Policy Form may be issued to homeowners, residential
renters, condominium unit-owners and owners of residential buildings containing two to
four units. In communities participating in the National Flood Insurance Program (NFIP)
Regular Program or Emergency Program the dwelling policy provides building and/or
contents coverage for:
 Detached, single-family, non-condominium residence with incidental occupancy
limited to less than 50% of the total floor area;
 Two- to four- family, non-condominium building with incidental occupancy
limited to less than 25% of the total floor area;
 Dwelling unit in residential condominium building;
 Residential townhouse/rowhouse
 Manufactured mobile homes
Dwelling Form Maximum Limits: $250,000
General Form: The General Property Policy Form may be issued to owners or lessees of
non-residential buildings or units, or residential condominium buildings that are
uninsurable under the Residential Condominium Building Association Policy (RCBAP). In
communities participating in the NFIP Regular Program or Emergency Program the General
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Property Policy provides building and/or contents coverage for these and similar “other
residential” risks:
 Hotel or motel with normal guest occupancy of 6 months or more;
 Apartment building;
 Residential cooperative building;
 Dormitory;
 Assisted-living facility.
And non-residential risks:
 Shop, restaurant, or other business;
 Mercantile building;
 Grain bin, silo, or other farm building;
 Agricultural or industrial processing facility;
 Factory;
 Warehouse;
 Poolhouse, clubhouse, or other recreational building;
 House of worship;
 School;
 Hotel or motel with normal guest occupancy of less than 6 months;
 Licensed bed-and-breakfast inn;
 Retail;
 Nursing home;
 Non-residential condominium;
 Condominium building with less than 75% of its total floor area in residential use;
 Detached garage;
 Tool shed;
 Stock, inventory, or other commercial contents.
General Form Maximum Limits: $500,000
RCBAP: In order for a condominium building to be eligible under the Residential
Condominium Building Association Policy (RCBAP) form, the building must be owned by a
condominium association, which the NFIP defines as the entity made up of the unit owners
responsible for the maintenance and operation of:
1. common elements owned in undivided shares by unit owners; and
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FPAT File# REN2422825
2. other real property in which the unit owners have use rights
where membership in the entity is a required condition of unit ownership.
The RCBAP is required for all buildings owned by a condominium association containing 1
or more residential units and in which at least 75% of the total floor area within the building
is residential without regard to the number of units or number of floors. The RCBAP is
available for high-rise and lowrise residential condominium buildings, including
townhouse/rowhouse and detached single-family
condominium buildings in the Regular Program only.
Residential condominium buildings that are being used as a hotel or motel, or are being
rented (either short or long term), must be insured under the RCBAP.
Only buildings having a condominium form of ownership are eligible for the RCBAP. If the
named insured is listed as other than a condominium association, the agent/ producer
must provide legal documentation to confirm that the insured is a condominium
association before the RCBAP can be written. This documentation may be a copy of the
condominium association by-laws or a statement signed by an officer or representative of
the condominium association confirming that the building is in a condominium form of
ownership. In the event of a loss, RCBAPs written for buildings found not to be in a
condominium form of ownership will be rewritten under the correct policy form for up to
the maximum amount of building coverage allowed under the program for the type of
building insured, not to exceed the coverage purchased under the RCBAP.
A homeowners association (HOA) may differ from a condominium association and is
ineligible for the RCBAP, unless the HOA meets the definition of a condominium association
as defined in the policy. Cooperative ownership buildings are not eligible. Timeshare
buildings in a condominium form of ownership in jurisdictions where title is vested in
individual unit owners are eligible provided that all other criteria are met.
RCBAP Form Maximum Limits: Replacement cost, or the total number of units x $250,000,
whichever is less.
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FPAT File# REN2422825
The Flood Insurance Valuations contained in this report do not include any personal
property regardless of ownership. For more information regarding flood insurance visit
www.fema.gov
The table on the following page is a Quick Reference Guide for determining insurable
responsibilities.
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FPAT File# REN2422825
Flood Insurance Quick Reference Table
AS GOVEREND BY THE NATIONAL FLOOD INSURANCE PROGRAM-FEMA
BUILDING COMPONENT
ASSOCIATION
RESPONSIBILITY
UNIT OWNER
RESPONSIBILITY
1. ROOF AND ROOF COVERING
Structural Framing and Roof Cover
YES
NO
2. EXTERIOR WALLS
Paint, Stucco, Insulation, Studs, Concrete Block,
Brick, Doors, Windows, etc.
YES
NO
3. UNIT INTERIOR WALLS & CEILINGS
Party Walls & Ceilings, Unfinished drywall,
Insulation,
Metal, and Wood Studs
YES
NO
4a. COMMON AREA Interior Wall Studs, Block,
and
Drywall
YES
NO
4b. COMMON AREA Floor, Wall, and Ceiling
Finishes
YES
NO
5. UNIT INTERIOR Floor, Wall, & Ceiling Finishes,
Paint, Carpet, Tile, etc.
YES
NO
6. UNIT AND COMMON AREA
- Structural Floors
- Structural Ceilings
- Structural Walls
YES
NO
7. COMMON AREA Air Conditioners
YES
NO
8. COMMON AREA Electrical
YES
NO
9. INTERIOR UNIT COMPONENTS
- Appliances
- Electrical Fixtures
- Water Heaters
- Cabinets
YES
NO
10. INTERIOR UNIT Air Conditioners
YES
NO
***The above information is intended to assist in determining the general responsibilities for both parties***
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FPAT File# REN2422825
Recapitulation of Hazard Values
Driftwood Sands Condominium
Indian Rocks Beach, Florida
HAZARD VALUATION as of June 21, 2024
FPAT File# REN2422825
Building
Replacement
Cost
Insurance
Exclusions
Insurable
Replacement
Cost
Depreciation
Depreciated
Replacement
Cost
45-Unit Risk
$13,067,553
$248,975
$12,818,578
$4,999,245
$7,819,333
Pool Pavilion
$18,939
$1,344
$17,595
$8,973
$8,622
Total
$13,086,492
$250,319
$12,836,173
$5,008,218
$7,827,955
Property Site Improvement
Replacement
Cost
Ancillary Structures
8-Stall Carport
$36,000
Perimeter Fences, Gates & Equipment
Perimeter Fence
$15,008
Sports Courts
Shuffleboard Courts, 2 of 2
$16,517
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FPAT File# REN2422825
Swimming Pool Area
Pool Deck
$21,232
Pool Deck, Wood
$31,179
Pool Heater
$5,680
Swimming Pool
$162,868
Total
$288,484
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FPAT File# REN2422825
Recapitulation of Flood Values
Driftwood Sands Condominium
Indian Rocks Beach, Florida
FLOOD VALUATION as of June 21, 2024
FPAT File# REN2422825
Building
Replacement
Cost
Insurance
Exclusions
Depreciation
Depreciated
Replacement
Cost
NFIP Insurable
Replacement
Cost
45-Unit Risk
$15,759,676
n/a
$6,146,274
$9,613,402
$11,250,000
Total
$15,759,676
$6,146,274
$9,613,402
$11,250,000
Excavation, below grade foundations, underground plumbing, piping, and conduits are not excluded from valuation for flood insurance coverage.
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FPAT File# REN2422825
Aerial Property Photographs
Aerial View of Property
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mailto:info@fpat.com

Felten Property Assessment Team | www.fpat.com
FPAT File# REN2422825
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FPAT File# REN2422825
Supplementary Valuation Information
Commercial Residential Inspections/Valuations
Certification
Name of the firm or key personnel completing the inspection/valuation:
Felten Property Assessment Team.
I, Brad Felten , c ertify t hat I, or the entity listed above, have/has at least three
years experience in the field of commercial property inspections, commercial risk assessment, and commercial property
replacement cost evaluation.
Date June 21, 2024 Position Managing Member
Property
Property Owner’s Name Driftwood Sands Condominium Association, Inc.
Property Address 2618 Gulf Blvd.
City Indian Rocks Beach
State, Zip Florida, 33785
Valuation Requirements

Inspections must include an estimate of the replacement cost for every structure to be covered.

The method used to determine the cost of rebuilding the structures must be the current version of the
calculation system. The system and version must be clearly indicated on the valuation documentation.

Inspections must also include clear photographs of any building and ancillary structure the applicant/
policyholder wishes to insure:
-
Main Structure
-
Pools
-
Docks, etc.

If multiple buildings are identical, or nearly so, representative photographs may be used.

Photographs of any existing damage must also be included.
Valuation Information

Year of construction 1982

Total number of units 45
 Number of owner-occupied units N/A
 Number of units rented on a long-term lease of 12 months or more N/A
 Number of units rented on a daily, weekly, or monthly basis N/A
 Number of units with time share occupancy N/A
 What is the distance to tidal water? Waterfront
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Building Descriptions
Felten Property Assessment Team | www.fpat.com
FPAT File# REN2422825
This section of the report contains a detailed building description for
each different type of structure located on the property and insured
by Driftwood Sands Condominium Association, Inc.. In many cases
similar buildings may be described in the same description.
All building descriptions contained in this report meet or exceed
Citizens Property Insurance Corporation Minimum Requirements for
Non-licensed Commercial Residential Inspections/Valuation.
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Building Description
Felten Property Assessment Team | www.fpat.com
FPAT File# REN2422825
Applicable Buildings
45-Unit Risk:

2618 Gulf Blvd
General Building Information
Occupancy:
Condominium
Square Footage:
45-Unit Risk:
 GFA: +/- 86,265 Sq Ft
Additions:
45-Unit Risk:
 Walkways +/- 8,260 Sq Ft
 Balconies +/- 5,320 Sq Ft
 Attached Carport
 Generator
Condition:
Good
Year of Construction: 1982
# of Stories:
Six (6)
Construction Analysis
Foundation:
Estimated to be reinforced concrete piles
Ground Subfloor:
Concrete slab on grade
Elevated Subfloor(s):
Poured-in-place reinforced concrete deck
Exterior Walls:
Concrete block covered with painted stucco
Interior Partition
Walls:
Metal studs
Unit Party Walls:
Concrete block
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BUILDING DESCRIPTION CONTINUED FROM PREVIOUS PAGE
Felten Property Assessment Team | www.fpat.com
FPAT File# REN2422825
Roof Construction:
Poured-in-place reinforced concrete roof deck
Roof Shape:
Flat
Roof Covering(s):
Vinyl membrane roofing
ISO Construction
Type:
Reinforced Concrete Frame/Fire Resistive (ISO 6)
Mechanicals
Elevators:
This building contains two (2) hydraulic elevators servicing all
levels
Heating & Cooling :
Split systems with condensing units located on the roof and air
handlers located within the building.
Fire Sprinklers:
Yes
Manual Fire Alarm:
Yes
Auto Dial-Out Fire
Alarm:
Yes
Finished Interior Common Areas
Common Areas:
Lobby and Club Room
Common Floor
Coverings:
Tile
Common Wall Finish: Paint
Common Ceiling
Finish:
Paint
Common Kitchens:
None
Common Fireplaces: None
Interior Units
Unit Floor Coverings: Each residential unit is individually owned with unit owner
specific floor covering materials
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BUILDING DESCRIPTION CONTINUED FROM PREVIOUS PAGE
Felten Property Assessment Team | www.fpat.com
FPAT File# REN2422825
Unit Wall Finish:
Painted textured drywall
Unit Ceiling Finish:
Painted textured drywall and concrete
Unit Kitchens:
Each unit contains one residential style kitchen with average
quality appliances
Customized
Features:
N/A - no major customized features verified at the time of
inspection
Fireplaces:
Yes, each unit contains one (1) fireplace
Supplementary Information
Business Exposure:
None
Commercial Kitchens:
None
Property or Liability
Hazards:
None
Additional Comments:
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Building Sketches
Felten Property Assessment Team | www.fpat.com
FPAT File# REN2422825
This section of the report contains detailed floor by floor building
sketches for each different type of structure located on the property
and insured by Driftwood Sands Condominium Association, Inc.. In
many cases identical buildings will be depicted with one sketch.
All building sketches contained in this report meet or exceed Citizens
Property Insurance Corporation Minimum Requirements for Non-
licensed Commercial Residential Inspections/Valuation.
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Photographs & Values
Felten Property Assessment Team | www.fpat.com
FPAT File# REN2422825
This section of the report contains detailed photographs and
replacement cost values for each building and site improvement
located on the property and insured by Driftwood Sands
Condominium Association, Inc..
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Building Detail
Felten Property Assessment Team | www.fpat.com
FPAT File# REN2422825
45-Unit Risk
2618 Gulf Blvd
FLOOD INSURANCE
REPLACEMENT
COST
NFIP INSURABLE
REPLACEMENT
COST
$15,759,676
$11,250,000
HAZARD INSURANCE
REPLACEMENT
COST
INSURANCE
EXCLUSIONS
INSURABLE
REPLACEMENT
COST
DEPRECIATION
DEPRECIATED
REPLACEMENT
COST
$13,067,553
$248,975
$12,818,578
$4,999,245
$7,819,333
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SUPPORTING PHOTOGRAPHS FOR: 45-Unit Risk, 2618 Gulf Blvd
Felten Property Assessment Team | www.fpat.com
FPAT File# REN2422825
Exterior Elevation Photographs
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SUPPORTING PHOTOGRAPHS FOR: 45-Unit Risk, 2618 Gulf Blvd
Felten Property Assessment Team | www.fpat.com
FPAT File# REN2422825
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SUPPORTING PHOTOGRAPHS FOR: 45-Unit Risk, 2618 Gulf Blvd
Felten Property Assessment Team | www.fpat.com
FPAT File# REN2422825
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SUPPORTING PHOTOGRAPHS FOR: 45-Unit Risk, 2618 Gulf Blvd
Felten Property Assessment Team | www.fpat.com
FPAT File# REN2422825
Parking Area Photographs
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SUPPORTING PHOTOGRAPHS FOR: 45-Unit Risk, 2618 Gulf Blvd
Felten Property Assessment Team | www.fpat.com
FPAT File# REN2422825
Roof Overview Photographs
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Building Detail
Felten Property Assessment Team | www.fpat.com
FPAT File# REN2422825
Pool Pavilion
2618 Gulf Blvd
HAZARD INSURANCE
REPLACEMENT
COST
INSURANCE
EXCLUSIONS
INSURABLE
REPLACEMENT
COST
DEPRECIATION
DEPRECIATED
REPLACEMENT
COST
$18,939
$1,344
$17,595
$8,973
$8,622
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SUPPORTING PHOTOGRAPHS FOR: Pool Pavilion, 2618 Gulf Blvd
Felten Property Assessment Team | www.fpat.com
FPAT File# REN2422825
Exterior Elevation Photographs
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SUPPORTING PHOTOGRAPHS FOR: Pool Pavilion, 2618 Gulf Blvd
Felten Property Assessment Team | www.fpat.com
FPAT File# REN2422825
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SUPPORTING PHOTOGRAPHS FOR: Pool Pavilion, 2618 Gulf Blvd
Felten Property Assessment Team | www.fpat.com
FPAT File# REN2422825
Roof Overview Photographs
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Property Site Improvements Detail
Felten Property Assessment Team | www.fpat.com
FPAT File# REN2422825
Property
Improvement
Photo
Description
Replacement
Cost
Ancillary Structures
8-Stall Carport
Metal and aluminum 8-stall
carport
$36,000
Perimeter Fences, Gates & Equipment
Perimeter Fence
6' Wood privacy perimeter
fencing +/- 240 Ln Ft
$15,008
Sports Courts
Shuffleboard
Courts, 2 of 2
Shuffleboard courts, 2 of 2
$16,517
Swimming Pool Area
Pool Deck
Concrete pavers swimming
pool deck +/- 1,384 Sq Ft
$21,232
Pool Deck,
Wood
Wood frame deck located
by swimming pool area +/-
1,345 Sq Ft
$31,179
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SITE IMPROVEMENTS CONTINUED FROM PREVIOUS PAGE
Felten Property Assessment Team | www.fpat.com
FPAT File# REN2422825
Property
Improvement
Photo
Description
Replacement
Cost
Pool Heater
Pool heaters, gas, 1 of 1
$5,680
Swimming Pool
Cast-in-place concrete or
gunite sprayed-on concrete
swimming pool +/- 798 Sq
Ft. Cost includes the pool,
excavation, & filtering
equipment.
$162,868
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Replacement Cost Calculations
Felten Property Assessment Team | www.fpat.com
FPAT File# REN2422825
This section of the report contains the CoreLogic Commercial
Express calculations for each structure and/or site improvement
located on the property and insured by Driftwood Sands
Condominium Association, Inc.. In many cases identical buildings
may be valuated using the same replacement cost calculations.
All replacement cost calculations contained in this report meet or
exceed Citizens Property
Insurance Corporation Minimum
Requirements
for
Non-licensed
Commercial
Residential
Inspections/Valuation.
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VALUATION
REN2422825
Reconstruction
06/24/2024
06/24/2025
05/2024
Valuation Number:
Value Basis:
Effective Date:
Expiration Date:
Cost as of:
Valuation Modified Date:
06/24/2024
BUSINESS
2618 Gulf Blvd
Indian Rocks Beach, FL 33785-3129 USA
Driftwood Sands Condominium
Driftwood Sands Condominium
2618 Gulf Blvd
Indian Rocks Beach, FL 33785-3129 USA
LOCATION 1 - Driftwood Sands Condominium
Location Adjustments
2 - Moderate Damage
1 - No Damage
High Wind Region:
Seismic Zone:
Climatic Region:
3 - Warm
BUILDING 00001 - 45-Unit Risk, Hazard
Section 1
SUPERSTRUCTURE
Number of Stories:
6
Gross Floor Area:
86,265 sq.ft.
Irregular
Adjustment:
None
Construction Quality:
2.0 - Average
Year Built:
Occupancy:
Story Height:
81% Condominium, w/o Interior
Finishes
9 ft.
19% Parking on First Level
9 ft.
Construction Type:
100% Reinforced Concrete Frame (ISO
6)
Adjustments
Depreciation:
Condition:
Average
39%
Effective Age: 36 years
Hillside Construction:
Degree of Slope: Level
Site Accessibility:
Excellent
Valuation Detailed Report
by FPAT, LLC.
6/24/2024
Page 1 of 9
CoreLogic costs include labor and material, normal profit and overhead as of date of report. Costs represent general estimates which are not to
be considered a detailed quantity survey. These costs include generalities and assumptions that are common to the types of structures
represented in the software.
The commercial contents values CoreLogic publishes in this report are estimates only and should not be considered the actual value of
commercial contents insurance coverage that should be underwritten for the insured.
©CoreLogic. All rights reserved. CORELOGIC, the CoreLogic Logo, Commercial Express, and Commercial
ExpressLync are the property of CoreLogic, Inc.
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Hillside Construction:
Degree of Slope: Level
Site Position: Unknown
Site Accessibility:
Excellent
Soil Condition:
Excellent
Fees
Overhead and Profit:
20% is included
7% is included
Architect Fees:
User Provided
System Provided
Exclusion
Reconstruction
SUMMARY OF COSTS
SUPERSTRUCTURE
Site Preparation
$9,024
Foundations
$96,897
$62,005
Exterior
$4,644,990
Exterior Wall
25% Wall Openings
Exterior Wall
100% Stucco on
Masonry
Roof
$606,676
Material
100% Single-Ply
Membrane
Pitch
100% Flat
Interior
$2,044,367
Floor Finish
100% None
Ceiling Finish
24% Drywall
19% Paint
Structure
100% Studs, Girts,
etc.
Finish
100% Drywall
19% Paint
Mechanicals
$3,467,046
$177,947
Heating
77% Forced Warm Air
Cooling
77% Forced Cool Air
Fire Protection
100% Sprinkler
System
100% Manual Fire
Alarm System
Plumbing
325 Total Fixtures
Electrical
100% Average Quality
Elevators
2 Passenger
Built-ins
$986,649
Valuation Detailed Report
by FPAT, LLC.
Policy Number: REN2422825
6/24/2024
Page 2 of 9
CoreLogic costs include labor and material, normal profit and overhead as of date of report. Costs represent general estimates which are not to
be considered a detailed quantity survey. These costs include generalities and assumptions that are common to the types of structures
represented in the software.
The commercial contents values CoreLogic publishes in this report are estimates only and should not be considered the actual value of
commercial contents insurance coverage that should be underwritten for the insured.
©CoreLogic. All rights reserved. CORELOGIC, the CoreLogic Logo, Commercial Express, and Commercial
ExpressLync are the property of CoreLogic, Inc.
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SUBTOTAL RC
$7,226,442
$11,846,626
$248,975
$151,875
Depreciated Cost (61%)
ADDITIONS
Total Additions
$971,952
Equipment
$50,400
Building Items
$921,552
TOTAL RC Section 1
TOTAL ACV
$7,819,333
$151,875
$248,975
$12,818,578
TOTAL RC BUILDING 00001 45-Unit Risk, Hazard
TOTAL ACV
$7,819,333
$151,875
$248,975
$12,818,578
BUILDING 00002 - 45-Unit Risk, Flood
Section 1
SUPERSTRUCTURE
Number of Stories:
6
Gross Floor Area:
86,265 sq.ft.
Irregular
Adjustment:
None
Construction Quality:
2.0 - Average
Year Built:
Occupancy:
Story Height:
81% Condominium
9 ft.
19% Parking on First Level
9 ft.
Construction Type:
100% Reinforced Concrete Frame (ISO
6)
Adjustments
Depreciation:
Condition:
Average
39%
Effective Age: 36 years
Hillside Construction:
Degree of Slope: Level
Site Position: Unknown
Site Accessibility:
Excellent
Soil Condition:
Excellent
Fees
Overhead and Profit:
20% is included
7% is included
Architect Fees:
User Provided
System Provided
Exclusion
Reconstruction
SUMMARY OF COSTS
SUPERSTRUCTURE
Site Preparation
$8,926
Foundations
$154,812
Valuation Detailed Report
by FPAT, LLC.
Policy Number: REN2422825
6/24/2024
Page 3 of 9
CoreLogic costs include labor and material, normal profit and overhead as of date of report. Costs represent general estimates which are not to
be considered a detailed quantity survey. These costs include generalities and assumptions that are common to the types of structures
represented in the software.
The commercial contents values CoreLogic publishes in this report are estimates only and should not be considered the actual value of
commercial contents insurance coverage that should be underwritten for the insured.
©CoreLogic. All rights reserved. CORELOGIC, the CoreLogic Logo, Commercial Express, and Commercial
ExpressLync are the property of CoreLogic, Inc.
53 of 59
User Provided
System Provided
Exclusion
Reconstruction
SUMMARY OF COSTS
Exterior
$4,547,931
Exterior Wall
25% Wall Openings
Exterior Wall
100% Stucco on
Masonry
Roof
$591,659
Material
100% Single-Ply
Membrane
Pitch
100% Flat
Interior
$2,851,706
Ceiling Finish
24% Drywall
100% Paint
76% Textured Finish
Structure
100% Studs, Girts,
etc.
Finish
100% Drywall
100% Paint
Mechanicals
$5,534,941
Heating
77% Forced Warm Air
Cooling
77% Forced Cool Air
Fire Protection
100% Sprinkler
System
100% Manual Fire
Alarm System
Plumbing
325 Total Fixtures
Electrical
100% Average Quality
Elevators
2 Passenger
Built-ins
$1,097,750
SUBTOTAL RC
$9,020,512
$14,787,724
Depreciated Cost (61%)
ADDITIONS
Total Additions
$971,952
Equipment
$50,400
Building Items
$921,552
TOTAL RC Section 1
TOTAL ACV
$9,613,402
$15,759,676
Valuation Detailed Report
by FPAT, LLC.
Policy Number: REN2422825
6/24/2024
Page 4 of 9
CoreLogic costs include labor and material, normal profit and overhead as of date of report. Costs represent general estimates which are not to
be considered a detailed quantity survey. These costs include generalities and assumptions that are common to the types of structures
represented in the software.
The commercial contents values CoreLogic publishes in this report are estimates only and should not be considered the actual value of
commercial contents insurance coverage that should be underwritten for the insured.
©CoreLogic. All rights reserved. CORELOGIC, the CoreLogic Logo, Commercial Express, and Commercial
ExpressLync are the property of CoreLogic, Inc.
54 of 59
TOTAL RC BUILDING 00002 45-Unit Risk, Flood
TOTAL ACV
$9,613,402
$15,759,676
BUILDING 00003 - Pavilion, Hazard
Section 1
SUPERSTRUCTURE
Number of Stories:
1
Gross Floor Area:
324 sq.ft.
Irregular
Adjustment:
None
Construction Quality:
2.0 - Average
Year Built:
Occupancy:
Story Height:
100% Open Park Pavilion
9 ft.
Construction Type:
100% Frame (ISO 1)
Adjustments
Depreciation:
Condition:
Average
51%
Effective Age: 36 years
Hillside Construction:
Degree of Slope: Level
Site Position: Unknown
Site Accessibility:
Excellent
Soil Condition:
Excellent
Fees
Overhead and Profit:
20% is included
7% is included
Architect Fees:
User Provided
System Provided
Exclusion
Reconstruction
SUMMARY OF COSTS
SUPERSTRUCTURE
Site Preparation
$91
Foundations
$2,706
$1,253
Foundation Wall
Interior Foundations
Slab On Ground
Exterior
$1,437
Framing
Exterior Wall
97% Wall Openings
Exterior Wall
100% Siding, Wood
on Frame
Structural Floor
Roof
$11,065
Valuation Detailed Report
by FPAT, LLC.
Policy Number: REN2422825
6/24/2024
Page 5 of 9
CoreLogic costs include labor and material, normal profit and overhead as of date of report. Costs represent general estimates which are not to
be considered a detailed quantity survey. These costs include generalities and assumptions that are common to the types of structures
represented in the software.
The commercial contents values CoreLogic publishes in this report are estimates only and should not be considered the actual value of
commercial contents insurance coverage that should be underwritten for the insured.
©CoreLogic. All rights reserved. CORELOGIC, the CoreLogic Logo, Commercial Express, and Commercial
ExpressLync are the property of CoreLogic, Inc.
55 of 59
User Provided
System Provided
Exclusion
Reconstruction
SUMMARY OF COSTS
Material
100% Aluminum
Pitch
100% Low (2:12 to
6:12 pitch)
Interior
Floor Finish
Ceiling Finish
Partitions
Length
Structure
100% None
Finish
Mechanicals
$2,310
Heating
Cooling
Fire Protection
0% Sprinkler System
0% Manual Fire
Alarm System
0% Automatic Fire
Alarm System
Plumbing
Electrical
100% Average
Quality
Elevators
0 Passenger
0 Freight
Built-ins
$77
TOTAL RC Section 1
TOTAL ACV
Depreciated Cost (49%)
$8,622
$658
$1,344
$17,595
TOTAL RC BUILDING 00003 Pavilion, Hazard
TOTAL ACV
$8,622
$658
$1,344
$17,595
Reconstruction
$/Sq.Ft.
Sq.Ft.
Depreciated
Location Additions Value
$288,484
$288,484
LOCATION ADDITIONS
LOCATION SUBTOTAL (All Buildings)
$165
$28,595,849
172,854
$17,441,356
Custom Items
$21,232
Swimming Pool Deck +/- 1,384 SF
$21,232
$162,868
Swimming Pool +/- 798 SF
$162,868
Valuation Detailed Report
by FPAT, LLC.
Policy Number: REN2422825
6/24/2024
Page 6 of 9
CoreLogic costs include labor and material, normal profit and overhead as of date of report. Costs represent general estimates which are not to
be considered a detailed quantity survey. These costs include generalities and assumptions that are common to the types of structures
represented in the software.
The commercial contents values CoreLogic publishes in this report are estimates only and should not be considered the actual value of
commercial contents insurance coverage that should be underwritten for the insured.
©CoreLogic. All rights reserved. CORELOGIC, the CoreLogic Logo, Commercial Express, and Commercial
ExpressLync are the property of CoreLogic, Inc.
56 of 59
Location Additions Value
$288,484
$288,484
LOCATION TOTAL, Location 1
$28,884,333
172,854
$167 $17,729,840
$31,179
Wood Deck +/- 1,345 SF
$31,179
$36,000
8-Stall Carport
$36,000
$16,517
Shuffleboard Courts, 2 of 2
$16,517
$5,680
Gas Pool Heater
$5,680
$15,008
6' Wood Privacy Fencing +/- 240
LF
$15,008
VALUATION GRAND TOTAL
$28,884,333
172,854
$167
$17,729,840
Reconstruction
Sq.Ft.
$/Sq.Ft.
Depreciated
Valuation Detailed Report
by FPAT, LLC.
Policy Number: REN2422825
6/24/2024
Page 7 of 9
CoreLogic costs include labor and material, normal profit and overhead as of date of report. Costs represent general estimates which are not to
be considered a detailed quantity survey. These costs include generalities and assumptions that are common to the types of structures
represented in the software.
The commercial contents values CoreLogic publishes in this report are estimates only and should not be considered the actual value of
commercial contents insurance coverage that should be underwritten for the insured.
©CoreLogic. All rights reserved. CORELOGIC, the CoreLogic Logo, Commercial Express, and Commercial
ExpressLync are the property of CoreLogic, Inc.
57 of 59
VALUATION
REN2422825
Reconstruction
06/24/2024
06/24/2025
05/2024
Valuation Number:
Value Basis:
Effective Date:
Expiration Date:
Cost as of:
Valuation Modified Date:
06/24/2024
BUSINESS
2618 Gulf Blvd
Indian Rocks Beach, FL 33785-3129 USA
Driftwood Sands Condominium
LOCATION 1 - Driftwood Sands Condominium TOTAL
$2,232,387
$1,474,265
Driftwood Sands Condominium
2618 Gulf Blvd
Indian Rocks Beach, FL 33785-3129 USA
LOCATION 1 - Driftwood Sands Condominium
Equipment: Building items and site improvements
Replacement
Depreciated
Building 00001, Section 1
Building Items
Balconies
(1) Balconies, Reinforced concrete frame
$791,375
$482,738
Canopies
(1) Cast-in-Place Concrete w/Flat Plate Deck, Wall
supported
$79,137
$48,274
(1) Lt.-Ga. steel frame, Column supported
$51,040
$31,134
Equipment
Generators
(1) Generators, Diesel / Natural Gas / LP, 100 Kw
$50,400
$30,744
Building 00002, Section 1
Building Items
Balconies
(1) Balconies, Reinforced concrete frame
$791,375
$482,738
Canopies
(1) Cast-in-Place Concrete w/Flat Plate Deck, Wall
supported
$79,137
$48,274
(1) Lt.-Ga. steel frame, Column supported
$51,040
$31,134
Valuation Detailed Report
by FPAT, LLC.
EQUIPMENT REPORT
Policy Number: REN2422825
6/24/2024
Page 8 of 9
CoreLogic costs include labor and material, normal profit and overhead as of date of report. Costs represent general estimates which are not to
be considered a detailed quantity survey. These costs include generalities and assumptions that are common to the types of structures
represented in the software.
The commercial contents values CoreLogic publishes in this report are estimates only and should not be considered the actual value of
commercial contents insurance coverage that should be underwritten for the insured.
©CoreLogic. All rights reserved. CORELOGIC, the CoreLogic Logo, Commercial Express, and Commercial
ExpressLync are the property of CoreLogic, Inc.
58 of 59
TOTAL
$2,232,387
$1,474,265
LOCATION 1 - Driftwood Sands Condominium TOTAL
$2,232,387
$1,474,265
Equipment: Building items and site improvements
Replacement
Depreciated
Equipment
Generators
(1) Generators, Diesel / Natural Gas / LP, 100 Kw
$50,400
$30,744
LOCATION 1 Additions
Custom Items
(1) Swimming Pool Deck +/- 1,384 SF
$21,232
$21,232
(1) Swimming Pool +/- 798 SF
$162,868
$162,868
(1) Wood Deck +/- 1,345 SF
$31,179
$31,179
(1) 8-Stall Carport
$36,000
$36,000
(1) Shuffleboard Courts, 2 of 2
$16,517
$16,517
(1) Gas Pool Heater
$5,680
$5,680
(1) 6' Wood Privacy Fencing +/- 240 LF
$15,008
$15,008
To update please call us at 866-568-7853 or email us at info@fpat.com for pricing and more information.
Valuation Detailed Report
by FPAT, LLC.
EQUIPMENT REPORT
Policy Number: REN2422825
6/24/2024
Page 9 of 9
CoreLogic costs include labor and material, normal profit and overhead as of date of report. Costs represent general estimates which are not to
be considered a detailed quantity survey. These costs include generalities and assumptions that are common to the types of structures
represented in the software.
The commercial contents values CoreLogic publishes in this report are estimates only and should not be considered the actual value of
commercial contents insurance coverage that should be underwritten for the insured.
©CoreLogic. All rights reserved. CORELOGIC, the CoreLogic Logo, Commercial Express, and Commercial
ExpressLync are the property of CoreLogic, Inc.
59 of 59