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�S'TATE ,gp/o <br /> J � <br /> November 7, 2007 - <br /> Indian River County <br /> 184025th Street <br /> Vero Beach, FL 32960-3328 <br /> Attn. : Mr. William K. DeBraal, Esquire <br /> RE: Fee proposal for The Banack Family Ltd . Partnership Appraisal, 57'" Street, Vero Beach, FL <br /> 32967—Parcels 103 and 402 of the 66" Avenue Improvement Project. <br /> Dear Attorney DeBraal: <br /> All Real Estate Appraisals Is pleased to offer a fee proposal to provide appraisal services relating to the <br /> above referenced property. Based upon discussions with Raymer F. Maguire, III, Esquire, the anticipated <br /> compensation is to be predicated upon appraisal evidence supporting: <br /> 1 . The market value of the land acquired for the roadway improvement. <br /> 2 . The property's highest and best use has been stipulated as being suited for two 5t acre <br /> ranchette style residential developments. <br /> 3. Any severance damages resulting from the anticipated changes in property size and <br /> depth of the remainder, along with potential damages relating to proximity of a <br /> prospective single family residence to the proposed and future roadway improvements <br /> will be recognized without the use of an extensive market study. <br /> a. The remainder tract would not need a variance because Indian River County has already <br /> agreed with the owner of the remainder parcel that the remainder parcel would be an <br /> approved, non-conforming use for one residential unit . <br /> This firm would provide evidence to support these items of compensation within the proposed appraisal <br /> report. To quantify potential severance damages, the appraisal will value the property Obeforen and "after" <br /> the proposed right of way acquisition. A summary appraisal format will be used to present the valuation <br /> analyses. The fee for providing this service would be $4,800. <br /> We understand that time is of the essence in this situation and would provide delivery of the completed <br /> appraisal within approximately six weeks from the date of authorization. <br /> Appraisers • Consultants ♦ Realtors® <br /> 1010 Executive Center Drive , Suite 132 <br /> Orlando , Florida 32803 <br /> Phone : 407 . 895 . 9999 Fax : 407 . 895 . 9998 EXHIBIT <br /> 9 <br />