Agenda - Council - 04/11/2017 - Laserfiche WebLink

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• The highest and best use of the subject was analyzed. • Reconciliation of the values indicated by the approaches to value utilized was completed. A final value conclusion represents our opinion of the subject's market value as of the effective date of this appraisal. Data sources used in this report included, but are not limited to, the following: • The property owner and/or property manager; • Government and public sources; • Market reports and surveys prepared by national and regional real estate companies; • Buyers and sellers of real estate; • Real estate brokers and agents; • Other real estate appraisers; • Primary and secondary data published by marketing firms; • General information and non-confidential data contained in our own files. Property Tour Tony Lesicka, MAI has conducted a physical tour of the exterior of the property on December 2, 2016. Nathan Hansen has not toured the property. Report Format This is an Appraisal Report as defined by the Uniform Standards of Professional Appraisal Practice under Standards Rule 2-2(a). Accordingly, it provides a summary or description of the appraisal process,subject and market data and valuation analyses. The report was also prepared to comply with the requirements of the Code of Professional Ethics of the Appraisal Institute. The depth of discussion contained in this report is specific to the needs of the client and the intended use of the appraisal. Exclusions from Scope of Work The scope of this appraisal did not require us to perform the following: • Engage an environmental engineering company to determine if asbestos or other hazardous wastes exist within the subject's improvements, soil or groundwater. • Engage a mechanical engineer or technician to inspect the HVAC or other mechanical systems in place at the subject property. • Engage a roofing contractor to inspect the roof and estimate the remaining life thereof, or prepare a conditions report with suggested repairs. • Engage a soil scientist or engineer to determine soil properties such as load bearing capacity, depth to groundwater, or other characteristics. We assume the subject property does not contain any hazardous wastes and that soil conditions allow commercial development on the site. 22 1 Page