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CERTIFICATE OF VALUE
<br />We certify to the best of our knowledge and belief, that:
<br />1. The statements of fact contained in this report are true and correct.
<br />2. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and
<br />limiting conditions and are our personal, unbiased, professional analyses, opinions, and conclusions.
<br />3. We have no present or prospective interest in the property or bias with respect to the property that is
<br />the subject of this report, and we have no personal interest or bias with respect to the parties involved.
<br />Our engagement in this assignment was not contingent upon developing or reporting predetermined
<br />results.
<br />4. Our compensation is not contingent upon the development or reporting of a predetermined value or
<br />direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a
<br />stipulated result, or the occurrence of a subsequent event directly related to the intended use of this
<br />appraisal.
<br />S. Our analyses, opinions, or conclusions were developed and this report has been prepared in
<br />conformity with the Uniform Standards of Professional Appraisal Practice, and the provisions of Chapter
<br />475, Part II, Florida Statutes.
<br />6. Robert K. Babcock, MAI and Camille A. Smith, MAI, MBA, have made a personal inspection of the
<br />property that is the subject of this report. We have also made a personal field inspection of the
<br />comparable sales relied upon in making this appraisal. The subject and the comparable sales relied upon
<br />in making this appraisal were as represented by the photographs contained in this appraisal.
<br />7. No persons other than those named herein provided significant real property appraisal assistance to
<br />the person(s) signing this certificate. Joshua C. Duncan, Stale -Certified Residential Appraiser RD 6884
<br />and Christopher W. Langton, State -Registered Trainee Real Estate Appraiser RI 20488 provided
<br />assistance with research, inspections and draft report preparation.
<br />8. The reported analyses, opinions, and conclusions were developed, and this report has been prepared,
<br />in conformity with the requirements of the Code of Professional Ethics and the Standards of Professional
<br />Appraisal Practice of the Appraisal Institute.
<br />9. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its
<br />duly authorized representatives.
<br />10. As of the date of this report, Robert K. Babcock, MAI, and Camille A. Smith, MAI, MBA, have
<br />completed the requirements of the continuing education program of the Appraisal Institute.
<br />Based upon our independent appraisal and the exercise of our professional judgment, our opinion of the
<br />market value for the part taken, including net severance damages after special benefits, if any, of the
<br />property appraised as of the 22ntl day of February 2008, was $177,000.
<br />Market Value should be allocated as follows:
<br />LAND
<br />IMPROVEMENTS
<br />$45,600
<br />$54,000
<br />NET DAMAGES WOR COST TO
<br />CURE $77,400
<br />TOTAL $177,000
<br />March 12, 2008
<br />REPORT DATE
<br />All Real Estate Appraisals
<br />Parcel 111
<br />Owner: Van Antwerp
<br />LAND AREA PARCEL 111 (Ac): 0.48
<br />Land Use (HABU as vacant): Residential
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<br />APPRAISER (Camille A. Smith, MAI, MBA)
<br />State` -Certified General Appraiser RZ1050
<br />APPRAISER (Robert K. Babcock, MAI)
<br />State -Certified General Appraiser RZ990
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