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i • Id Dear Mr, Hyatt: MAs requested, we. have inspected the subject property which consists of road right-of-way for Stratton Avenue located between U.S. Highway #1 and Bristol Street in the City of Sebastian, Florida. This is for the purpose of providing you with an appraisal of the Market Value of the fee simple interest to this property as of February 13, 1991. The property is physically described in the following report of 89 pages and an Addendum of 9 pages which explains the analysis of data upon which our value estimate is based. The opinions expressed in this report and the value conclusion reported below are subject to the limiting conditions on pages 1 and 2. No deduction is made for physical depreciation of the road improvements. Thus, the value reported for the road improvements is considered to be a limited appraisal valuation. Based on the analyses presented in this report, it is our opinion that the Market Value of the fee simple interest to the property appraised on February 13, 1991 is: Land Parcel #1 $192,235 Parcel #2 $ 32,960 Parcel #3 $ 70.597 Total $295,792 Road Improvements $254.724 Total $550,516 we believe the report to be complete, but any questions you may have are welcomed. c r r i r sw rt , 044 91 Peter D. ie d, MAT, 90154980 VT,tan�r�r,s; x55p ARMFIDLD-WAGNER APPRAISAL &. RESEARCH. INC. 1940 10TH AVENUE. P.O. BOX 791 PETER D. ARMFIELD, MAI„ SRPA VERA BEACH, FLORIDA 329&1.0731 RICHARD L. WAGNER. MAI TELEPHONE 44071 562.0532 DANIEL D. FULLER, MAI, SRPA FAX 407-778-1121 March 13, 1991 Mr. Nelson Hyatt Park Place Mobile Home Park 1000 Stratton Avenue Sebastian, Florida 32958 Dear Mr, Hyatt: MAs requested, we. have inspected the subject property which consists of road right-of-way for Stratton Avenue located between U.S. Highway #1 and Bristol Street in the City of Sebastian, Florida. This is for the purpose of providing you with an appraisal of the Market Value of the fee simple interest to this property as of February 13, 1991. The property is physically described in the following report of 89 pages and an Addendum of 9 pages which explains the analysis of data upon which our value estimate is based. The opinions expressed in this report and the value conclusion reported below are subject to the limiting conditions on pages 1 and 2. No deduction is made for physical depreciation of the road improvements. Thus, the value reported for the road improvements is considered to be a limited appraisal valuation. Based on the analyses presented in this report, it is our opinion that the Market Value of the fee simple interest to the property appraised on February 13, 1991 is: Land Parcel #1 $192,235 Parcel #2 $ 32,960 Parcel #3 $ 70.597 Total $295,792 Road Improvements $254.724 Total $550,516 we believe the report to be complete, but any questions you may have are welcomed. c r r i r sw rt , 044 91 Peter D. ie d, MAT, 90154980 VT,tan�r�r,s; x55p