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14and \! aluc .-\nalysis ::.\gain~ the previous highest and be~t use analysis has concluded that the appeal and nlarketahility of the rclna l nder i s unafh~ctcd by.' t he take: t hereCorc ~ the tllost cotllparablc vacant land sales are those used in the hefore seL~tioll of this 3ppraisJ]. I..a n d \' a hl(~ :\ n a Iy sis /\gain~ the pre\'lOUS highest and best use analysis has concluded that the app~a] and nlarketability of the rellla i noer is una ffcctcd hy the l;tke: t herefore~ the 111nst cotllparablc vacant land sales ar~ thost: used in the- he fore ~ection of this appraisal. l.26 acres x S 12.500/3cr(' :'::.: S 15~ 75().OO \-Talua tion of the Fee Silnple ~.\cquisition .1\ part ia l tak i ng is 011(" \\,'hercby.! the go\'crn ~l1ent physlcall y acqul res a part of the ra rger parcc l. The appra isal proc~ss in this report has focused on the valuation of the fee sinlplc interest \vhich is the interest that \viII be acqulfcd. -rhc fee Silllple acqulsition \\'il I neither reduce the fclnainder parcel to a non-econolnic rCll11KH1C nor d i Ini n i sh the util ity of the renlaindcr as l nlproved, l'he appropriate 111e.asure or estin1ated .1 LIst conlp~nsation for a partial taking is tht: di ftC-fence- bct\vcen the f3ir Illarket yalue oCthe entire parcel before the taking and the t~li r nlark~t \"(.1 ~ ue of the re111a j nder tract i.l fter the taki ng. l-h IS figure autolllat lea l l Y 1 ne I udes the \'al lie of the pa rt taken toget her \vit h an)".' so-c al led se\'erance danlages~ and \.vhi le it i ~ conceivahle t ha t the est i lllated n1arket value of the rc-lnainder parcel fllay be reduced as (f resul, (~rrllt.! faking, the degree of reduction is in d i rC'ct relation to any 1 iIllit i ng effects found in the highest ~ nd best USL~. C'a lculat ions for the fee sinlJl le acq uisltlons are as rollo\\rs~ O. 1 X acre x S 12~500 iacre -.: S2 ~~5().OO RE(~O r\T CILI~~~rl 0 N 'The ohjecti \'C 0 r this appraisal \\'3S to ~st inlatc the total ~~taki ng and danlages ~~ atlri hutahle 10 the ~l1hject due t he fee acqu isi tion. (~a r('"rul considcrat ion \va~ gi yen to t he val ua{ ion nlethod~ enlployed. to an accurate analys is of the subject parce 1 and its rcia led 1l1arkeL and to the possih le heneti ls and det rttllent s of the proposed project. as set fort h under the provisions of thi s appra isa!. 13ased on the results 0 r that appra isa I investigation and analy!sis~ it is Iny opinion that the respective 111arket value of the prop~]1y~ in hoth the Hbctorc- and after" conditions. and the esti[ll~Hed total taking and danlagcs~ as of .'\pril 4~ 2005~ are cstin13tL'd as for lo\\'s. Plc-ase note t hat the \'ariOLl~ account i ng tabu la t ions llsed in th IS report are not l nd ieat j ve of the apprai sa] nl~t hods Llsed to det~nlli ne t he b~t()rc and after \',1lucs. PARCEL BEFORE 1.44 ac(~ S 12,500.00 iac @ 1.00 = S 18.000,00 Parcel 9. Fee AcquisWon 0,18 ac~@ 512.500,00 lac @ 1,00 = S 2.250.00 Total Value of the Part Tak.en S 2.250,00 REMAINDER AFTER 1.26 ac,@ $12,500.00 lac ~' 1,00 = 15.750.00 S fte I mpro vement:i none Less Site tmprovements taken none TOTAL $ 15.750,00 Estimated Total taking and Damages S 2,250.00 PARCEL SUMMARY Fee Acquisition. 9 0,18 ac@ $12.500,00 lac (0) 1.00 ~ S 2,250,00 Stte Improvements AcqUired Total taking and Damages S 2,250 00 RM HOEFS & ASSOCIA lES 19