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Summary & Conclusions 51 <br />Commercial Land Site - SWC of Middle Street and Market Place Drive <br />Exposure Time <br />Exposure time is the estimated length of time the subject property would have been offered on <br />the market prior to the hypothetical consummation of a sale at market value on the effective date <br />of the appraisal. It is a retrospective estimate based on an analysis of past events assuming a <br />competitive and open market. <br />Based on data and analysis, it is our opinion that the probable exposure time for the subject at <br />the concluded market value stated previously is 12 months. <br />Marketing Time <br />Marketing time is an opinion of the amount of time it might take to sell a real or personal property <br />interest at the concluded market value level during the period immediately after the effective date <br />of an appraisal. Marketing time differs from exposure time, which is always presumed to precede <br />the effective date of an appraisal. As no significant changes in market conditions are foreseen <br />in the near term, it is our opinion that a reasonable marketing period for the subject is likely to be <br />the same as the exposure time. Accordingly, we estimate the subject’s marketing period at 12 <br />months.