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INTRODUCTION <br /> This report reflects the data found and the opinions concluded from an appraisal of a property <br /> located at the Northeast Corner of Joplin Street and Business Center Drive in Elk River, <br /> Minnesota. The property is a vacant land parcel guided for commercial development. <br /> VALUE TYPE, CONDITION & STABILITY OF PROPERTY <br /> Market Value <br /> Type of Value: <br /> See Definitions Section for Market Value Defined <br /> As-Is Value <br /> Condition of Value: <br /> As of the effective date of the appraisal. <br /> Stabilized <br /> Stability of Property: <br /> The subject is considered vacant land. <br /> INTENDED USE OF THE APPRAISAL <br /> Decision-Making <br /> This appraisal assignment was requested by the named client for its sole use. No party, <br /> Intended Use: other than the named client, may use or rely upon any part of this report without the prior <br /> written authorization of both the named client and the appraiser. This report is not valid <br /> unless it contains the original signatures in blue ink. Any unauthorized third party relying <br /> upon any portion of this report does so at its own risk. <br /> Intended User: City of Elk River <br /> City of Elk River <br /> Attn:Amanda Othoudt <br /> Client: <br /> 13065 Orono Parkway <br /> Elk River, MN 55330 <br /> DATES OF APPRAISAL <br /> Effective Date: 7/21/2015 <br /> Inspection Date: 7/21/2015 <br /> Date of Report: 7/28/2015 <br /> 2 Nagell Appraisal&Consulting 952-544-8966 1 www.callnagell.com <br />