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DERIVATION OF ACCESS ADJUSTMENT <br /> Rating Scale: Incremental Adjustment: <br /> -Poor 5.00% <br /> -Below Average <br /> -Average <br /> -Above Average <br /> -Excellent <br /> SALE#1 SALE#2 SALE#3 SALE#4 SALE#5 <br /> Access Rating of Comparable Average Average Average Above Average Average <br /> Subject Access Rating Poor Poor Poor Poor Poor <br /> Difference in Rating(1 per Increment) -2 -2 -2 -3 -2 <br /> Adjustment Percentage(per increment) 5.00% 5.00% 5.00% 5.00% 5.00% <br /> Final Indicated Access Adjustment -10.00% -10.00% -10.00% -15.00% -10.00% <br /> DERIVATION OF VISIBILITY ADJUSTMENT <br /> Rating Scale: Incremental Adjustment: <br /> -Poor 5.00% <br /> -Below Average <br /> -Average <br /> -Above Average <br /> -Excellent <br /> SALE#1 SALE#2 SALE#3 SALE#4 SALE#5 <br /> Visibility Rating of Comparable Average Average Below Average Above Average Average <br /> Subject Visibility Rating Above Average Above Average Above Average Above Average Above Average <br /> Difference in Rating(1 per Increment) 1 1 2 0 1 <br /> Adjustment Percentage(per increment) 5.00% 5.00% 5.00% 5.00% 5.00% <br /> Final Indicated Visibility Adjustment 5.00% 5.00% 10.00% 0.00% 5.00% <br /> Physical Characteristics <br /> Each property has various physical traits that determine its appeal.These traits include size, age, <br /> condition, quality, parking ratio and utility. <br /> • We note size differences, but do not apply adjustments as no clear adjustable difference <br /> was observed. <br /> • All comparables were adjusted for differences in Age/Quality/Condition, as measured by <br /> Effective Age, as follows: <br /> DERIVATION . <br /> SALE#1 SALE#2 SALE#3 SALE#4 SALE#5 <br /> Date of Sale Jan-14 Aug-13 Aug-16 Jun-15 Dec-15 <br /> Date of Construction 1998 1965 2001 2004 2002 <br /> Effective Age at Sale 8 25 8 5 7 <br /> Effective Age of Subject Property 5 5 5 5 5 <br /> Difference in Age 3 19.5 3 0 2 <br /> Annual Depreciation 2.22% 2.22% 2.22% 2.22% 2.22% <br /> (45 year economic life) <br /> Preliminary Indicated Age Adjustment 6.67% 43.33% 5.56% 0.00% 3.33% <br /> Less:Adjustment to Account for Land* 0.75 0.75 0.75 0.75 0.75 <br /> Final Indicated Age Adjustment 5.00% 32.50% 4.17% 0.00% 2.50% <br /> *Land does not depreciate <br /> 82 <br />