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�Ct4�eT 3�, �,��% Corramescial�^-Indum-ead <br />�Yfacb��cry �' Eqteip»eent <br />�°. �arC�i EI�3eI2St�lIl�i Apprrairal Spccsadi.�tr <br />SIIV�T�I�W ES�.CeB <br />4196 I.exi.ngto� .4ve��ae <br />Shoreview, NIN 55126 <br />RE: Address: SE Quadrant of �-Iighway 10 and Siiver Lake Road. <br />CTeneral Description: 8 garceis of vacant Iand. <br />Dear Mr. Eiber�steiner: <br />Pursuant to your requ�st, we have prepared � Co�xpleie Self �on�ned L�nd appraisai <br />of th� above refere�c�d property for th� purpose of esta�ating th� curren$ ma��eg �r�lu�. <br />The estimaie of vaiue as stated irt tttis report as predicaied u�on fhe definitior� of market <br />value con�ained herein. Implicit i� the defii�tion of market valtae is tl�at paymegt is rnade in cash <br />ox° its eqtaivalency, Th� equivalency of cas� is convendo�al financing at bank/i�nstitr�tianai rates. <br />The subject property is appraised based upan cash or equivalent financi�g <br />The progerty righCs appraised consist of titie in fee simpi�, <br />As a result of our investigation w� have foz�ed ch� opinion tha,t the val�ae of the subject <br />a ., <br />property "as is" as of October 2Q, i997 and bas�d on a mag°ketiYig periQd af one year, is: � <br />S1X �DRED IIGH`I'Y FOUR THOCJ'S�,ND DOLLARS <br />� $584,Q�U <br />'The undersigned certifies t�at they i�ave persanall ins ected the sub'ect r� e <br />this appraisal is made subject to certairi limiting con itions and assumptioras as h einafter <br />expresse�. Facts and informatian contai�ed herein were obYai�ed from sazarces that we considered <br />reliable and are trtz� ta th� best of our knowIed�e and beiief. <br />This appraisai also complies with USpqp st�na��. <br />i'he following report describes o�zr methocis oi approach, contains data gathered in ouz <br />irivestigatian, a�d demonstrates our aaalysis in arriving at the estzraaation of market vaiu� for ihe <br />subject property. . <br />._ ,_ <br />. r� -. <br />� �� ,• ,�, � <br />.. <br />����� , _ <br />�1.�►`".'� <br />�. <br />. � � '` <br />... <br />�_. . <br />- � r .,. -- � � y ,,. <br />r� <br />-•,��:..;.,„ <br />, r ` [� i . <br />_- r ► <br />� .-._ ._��.. ._RF.°;� �.i�.._..,,... <br />I1 {�1� � <br />oRrorr�P.�rs�s, n�rc. <br />171.1 W. County Ro�tc� I3 � Suite 210 - S � SP, PldE6Z� 11�IN 55113 m(612)b36-1339 � 1(80p) 274-96%i � Fie.� (612) 636-?133 <br />