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1 <br />Mr. Joel Hanson <br />City of Little Canada <br />July 14, 1999 <br />Page Two <br />IIIfavors the cause of the client, the amount of value estimate, the <br />attainment of a stipulated result, or the occurrence of a <br />subsequent event. The undersigned's analysis, opinions and <br />III conclusions were developed and this report has been prepared in <br />conformance with the Uniform Standards of Professional Appraisal <br />Practice. The undersigned has made a personal inspection of the <br />IIIproperty that is the subject of the report. <br />If you have any questions or comments after reading this <br />appraisal, please contact the undersigned. <br />1 <br />APPRAISAL CONCEPTS, INC. <br />1 <br />1 <br />Certified to this 14th day of July, 1999. <br />William J. Peterson, SRA S'PA <br />Certified Federal Gene5a1 Appraiser <br />Minnesota License #4000619 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />Page 35 <br />