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<br /> 1.10 Cost of Reproduction New (CRN): The amount required to reproduce <br /> the entire asset at one time in like kind and materials in accordance <br /> with current market prices for materials, labor and manufactured <br /> equipment, contractors' overhead and profit, and fees, but without <br /> provision for overtime, bonuses for labor, or premiums for material or <br /> equipment. Cost of Reproduction New is synonymous with the insurance <br /> industry term ~Replacement Cost.~ <br /> 1.ll Cost of Reproduction New Less Depreciation ( CRNLD): For <br /> <br /> insurance coverage, is based upon the Cost of Reproduction New, as <br /> defined above, less an allowance for accrued depreciation as evidenced <br /> by observed condition in comparison with new units of like kind with <br /> consideration of physical deterioration and functional and economic <br /> factors deemed relevant for insurance purposes. Cost of Reproduction <br /> New Less Depreciation is synonymous with the insurance industry term <br /> "Actual Cash Value." <br /> 1.12 Estimated Life: An estimation of the functional life of a <br /> particular asset based on physical condition, maintenance practices and <br /> current projected utility. <br /> 1. 13 Fund Codes: A three digit code assigned to an asset which <br /> <br /> establishes what fund the asset is categorized under. <br /> 1.14 Fund Source Codes: A three digit code assigned to an asset that <br /> <br /> establishes what the original fund the asset was categorized under was. <br /> 1.15 Insurable Values: The cost of Reproduction New (Replacement Cost) <br /> <br /> and Cost of Reproduction New Less Depreciation (Actual Cash Value) as <br /> of the appraisal date. <br /> 1.16 Ouantity: The actual number of assets contained in a particular <br /> <br /> group of assets. <br /> 1.17 Original Cost: Original Cost is the actual cost of an asset in <br /> <br /> accordance with costs prevailing at the date the asset was first <br /> acquired, constructed or installed. When invoices or accurate records <br /> are not readily available, standard or normal costing will be utilized. <br /> 1.18 Normal Costing: Where the above costing technique cannot be <br /> <br /> employed to apply an original cost, cost is estimated based on a <br />