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HOSCH <br />Appraisal & Consulting, Inc. <br />November 18, 2011 <br />Mr. William K. Goodrich <br />RANDALL and GOODRICH, P.L.C. <br />2140 Fourth Avenue North <br />Anoka, MN 55303 <br />bgood(a�anokalaw.com <br />RE: Proposal for Real Estate Appraisals of Three Properties as follows: <br />Lot 1, Block 1, Hauser Addition (PIN No. 29-32-25-14-0013) <br />Lot 2, Block 2, Hy-10, Ramsey (PIN No: 29-32-25-14-0009) <br />Lot 3, Block 2, Hy-10, Ramsey (PIN No: 29-32-25-14-0010) <br />Dear Mr. Goodrich: <br />VIA EMAIL ONLY <br />Following our discussions and review of subsequent information you provided, we are pleased to provide <br />you with this proposal for appraisal services involving the above -captioned real estate. It is our <br />understanding that the intended use of the appraisal services is for internal decision -making for possible <br />acquisition involving either total or partial acquisitions. <br />Scope of Assignment <br />As discussed, we propose handling this assignment as follows: <br />Verbal Report of Value Ranges/Potential Value Impacts Followed by Work File Memorandum <br />Hosch Appraisal & Consulting, Inc. will review all documents to fully understand each property and <br />conduct a thorough interior and exterior inspection of each property. Fee simple real property rights of the <br />subject properties are to be considered (subject to any disclosed or obvious easements and <br />encumbrances) consistent with their highest and best uses. As discussed, we will be requesting <br />assistance from City planning and engineering staff pertaining to potential impacts to zoning compliance, <br />parking, access, topography, etc. where partial acquisitions are anticipated to fully understand the physical <br />and legal impacts to the properties located on Lots 2 and 3, Block 2, Hy-10. <br />The sales comparison approach will be utilized as the primary approach to value, with an income <br />capitalization approach to be considered if applicable. A range of value will be communicated to you <br />verbally by telephone for each property before the acquisition, with before and after appraisals being <br />conducted on both Lots 2 and 3, Block 2, Hy-10. Our verbal reports of value/potential impacts of the <br />taking will be followed by preparation of a brief work file memorandum in order for our work to comply with <br />the Uniform Standards of Professional Appraisal Practice (USPAP) as well as the Code of Professional <br />Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute. A copy of our work file <br />memorandum that summarizes the verbal report would be provided to you upon request. <br />11172 Zealand Avenue North Phone 612/331-1688 Fax 763/208-1670 <br />Minneapolis, MN 55316 wwwhoschappraisal.com <br />