Amended items
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7/5/2005 9:01:29 AM
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6/30/2005 4:05:42 PM
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<br />and Inca l bl\VS. .-\ COlllp 1ete ("11 vi ron nlenta 1 site assessnlcnt ~hou]d he secured in the c\'ent that contan,inatlol1 is <br />~uspect. 'fhe 3ppra 1 s3l 1 ~ subj eet to re\"islon by! and at the d i scretinn of the undersigned. in the event <br />contar1l111i1tion is found. 'rl1e appraiser assunlcS no re~ponsibillty for any environ[l1ental conditions~ or for any <br />expcn i ~c required 1"0 disco\"cr the[ll. <br /> <br />'''J ineral I.)cpo,its <br />~ro the kno\,"ledgc urthe appraiseL no 1111t1cral deposits arc pr(lSCnl \\'hieh \\-'olIld create an incn:111ent of\'alue <br />o\'c'r the value urthe land. <br /> <br />Relationship of Site to Surrou "dings <br />-rhe silcts area. ~hape and phy/sica 1 c haractcri sties arc al I reasonably,' appropriate t()r a resident ia 1 use. 'I'hcsc <br />characterist res arc considered in cst i nlat i ng thl~ \'a lue of the suhjecL <br /> <br />~r axes: <br />No c ha ngc is ant i c i pated. <br /> <br />Zoning: <br />~ 0 change l ~ ant ic ipatL~d. <br /> <br />H ig hes t & Best lJ se A;\ n a lysis - :\ fte r <br />. ("he highest and best use dcfi ni tion and lllethodology are appl ied to the subj eel parce l as ~~ \'acanf~~ and as <br />ui nlpro\"cd~'. 'rh(~ follo\vi ng highest and best U~~ analysis. aSSUflles t he project is c0l11plete _ and aga i n app lies <br />the sanle four test s ( Icga l pcrnlissihi li ty ~ physica I possi hi! i t1" ~ financ ial feasihi lit y.' ~ and I11HXi nlalIy productive) <br />tu the ~uhjec t parcc 1 as \"acant and as i lllpn.l\'ed. <br /> <br />. ,I.\" 1.(/ C (/ Jl t <br />No sign i ficant legal restrIct lOllS on use- arc C'\'idctlt. :'\s vacant. the Slt(' 1 s physical 1 y su ited f()r a ruraJ <br />resident i;) I use ~ \vhic h 1 S supported b~y llses found \vit hin the area, the age of the neighborhood and jts present <br />po s j t ion i 11 its lite eye I e pro \ .i d C" . "r his i ~ ate ga l I y P e rIll i s s i hIe and fi n a n C l a 1 I Y. rea sib leu s c ~ \ V h j c h re p re se n t s <br />the 111JX j 11lU111 econotllic potent ial for the LIse of the site. <br /> <br />As /lll/J,.( J\ 'ed~ <br />Th~ si tt.~ l s i 111p rO\'cd \vi t h ~t S l ngk~ \\'1 de t110bi Ie h0t11C ~ garage ~ brcC'7C\Vay ,1 nd 1111 see l laneous outbu ildings. <br />"rhe ~:LlrrC'nt 1 nlpn)Vc.~nlent~ art:" phys ica Il Y' appropriate- for th is use. /\ cursory l nsp~ct ion 0 f the bui Idtng <br />i [llprO\'clllents i nd icates l~l ir to a\'C'f3gc qua] ity constructi on~ \vh Ie h appears to he in genera l] Y t~lir condition. <br />S i11Cc the i nlpro\'"(~nlcnts contri bUlL" V~ 1 LIe t () the site. no cconon1ic just lflcat ion could be found for reno\"~Hion <br />or d~nlo I it i on of the j ll1proVClncnts. <br /> <br />.)'U n una '~l. <br />It \vas prc\'i ollsl~< cone I ud~d th~}t the highest and best use of the larger parcel is for a rural resjd~nt in] use. <br />r undarllenta II y ~ no ll1atcria l changes in the highest and hest use cone ]usinns have resu lted froll1 the- taki ng. <br />The overall pa reel h~l S \"1 rt ua] f Y' a I1 the phys [ca] c haract~ristlcs noted in i he '~before ~~ condit 10n ~ 3nd rCllla ins <br />s1l1tJbl~ for a residential purpose, Since the underlying highest and hest usc has not changed and the overall <br />appeal and 111fl rketabj I ~ty of the rClllai ndcr is conslstc-nt \\'1th its b~forc state. the llla rket recogn izes the saIne <br />leve l of pric j ng and . or Jllarket va l LIe. No dall1ages to the renlJlndcr parcel are ~vident. i\ccordingl~y ~ <br />cOll1pen ~ation is Ii 111i red to the part laken~ and the contributory value 0 f the site j 111provC"ll1Cnts taken. <br /> <br />\l aluatinll ..\nalysis <br />'rhe- prctilllinary analysis of the in1prO\'ed property indicates that thc proposed .1cqulsition \v111 not include any <br />bui lei i ng i nlprO\'('nlcnts~ nor \\'1 II the rCI11,lindef be adversely JITectcd: therefore ~ no considerJlion \vas gi \'en to <br />the i tnpro\'ernents loraled on the renlai nder parcc 1. The val uat ion process~ then. becoll1es one of ~and on]).... <br />S i nee only land is being appra ised~ t he on l y \'~d id approac h is the sa les c0l11parison a ppronc h. <br /> <br />RM HOEFS & ASSOCIA lES <br /> <br />lR <br />
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