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• <br />• <br />ii unnu�i[ ^�7.iln <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 AttorneyDeBraal: <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 'before" 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 <br />that time is of <br />the essence in <br />this situation and would <br />provide delivery of <br />the completed <br />appraisal within <br />approximately <br />six weeks from <br />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 />