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Mr.Michael Mornson <br /> Page 2 • <br /> April 8, 1999 <br /> We estimate that the fee for the preparation,field inspection,-comparable land market study,computation <br /> of a discounted cash flow income analysis and the assembly of the value,estimate into a narrative <br /> report,following the FIRREA and USPAP(Uniform Standards of Professional Appraisal Practice),- <br /> would range from$5,000.00 to$7,000.00. This range anticapaties preparaping a full appraisal on a value <br /> estimate based on less then subject's highest and best use,i.e.,park or public ownership. If studies show <br /> the second valuation is not needed,or required,the fee estimate would be at the low end of the above range. <br /> We would also estimate that the time required to complete the entire report,as outlined above,would be <br /> approximately five(5)weeks from the time authorization is received to proceed. <br /> We look forward to being of service to you and Village of St.Anthony again <br /> Respectfully submitted, <br /> THE APPRAISALBUREAU <br /> Richard C.Erickson <br /> President <br /> Minnesota License No. 4001311 <br /> RCE/pb • <br />