Section 3: Payment for Negotiated Commercial Sign Interests (for State)
Anchor: #i1023586Procedure
When a parcel value has an approved amount for a commercial sign structure, a separate State warrant may be drawn for payment of a sign interest acquired by negotiation. This amount may be for the sign structure only, or for the sign structure and, if applicable, the leasehold or fee interest.
A payment submission will include an AP-152, a title commitment, form ROW-N-95, Negotiator's Certificate, and the applicable conveyance instrument. The MOA is optional.
A warrant may be paid directly to the sign owner or through a closing at a title company. Only one title policy will be purchased in the combined amount of the fee and sign interests after the acquisition of all property interests or, when necessary, only for the value of the fee.