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Page 3 <br />that in the event that said property is not used for hospital <br />expansion purposes within three (3) years from the date of the <br />deed that. the title of the property shall revert back to Indian <br />River County. <br />EAST COAST APPRAISAL COMPANY <br />REAL ESTATE APPRAISERS AND CONSULTANTS <br />MMUMMXIMPINKMOSN P.O.Box 609 <br />VERO BEACH, FLORIDA , 32960 <br />JOHN S. SHERMAN. JR.. S.R.A. <br />EDGAR L. SCHUTT <br />Indian River County <br />Road & Bridge Department <br />c/o Mr. C. F . Williams, <br />Right of Way Agent <br />County Court House <br />Vero Beach, Florida <br />Re: Appraisal #66-158 <br />December 2, 1966 <br />TELEPHONE 562.4183 <br />Gentlemen: <br />Pursuant to the request of Mr. C. F. Williams, _.Right of Way <br />Agent, I have conducted.an investigation and analysis in order <br />to estimate the Market Value of the Fee Simple Title to real <br />property on 'the west side of 17th Avenue, between 25th Street <br />and 26th Street, Vero Beach, Indian River County, Florida. <br />The results of this investigation and analysis are contained in <br />the attached appraisal report #66-158, consisting of 19. pages, <br />--The property is legally described on Page 6 of the attached <br />report. <br />In my opinion, the Market Value of theproperty appraised herein, <br />as of November 30, 1966, is $31,500.00. <br />Market Valuemay be briefly defined as the amount that a willing <br />and informed purchaser would be justified in paying a willing and <br />informed -seller. Market Value is further defined on Page 6 of <br />this report. <br />JSS/np <br />Respectfully submitted, <br />EAST COAST APPRAISAL COMPANY <br />DEC 7 1966 <br />so 10 vACF106 <br />