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Size - The parcel size. Sales were selected to limit the influences of size on the price per square foot values; however, the principle of economy of scale was considered and adjusted as necessary. Based on pairing the available sales and other market data, an adjustment of 18% for every 50% difference in site size was found to be applicable. Larger sites would receive a positive adjustment and smaller sites a negative adjustment based on the principles of economy of scale. Other - The other adjustment category is a catchall for relevant adjustments that cannot be categorized in the previous adjustments. No additional adjustments were found to be necessary for the sales used. Qualitative Adjustments In many cases, determining a quantitative adjustment (percentage adjustment) can be difficult when paired sales data or other market data is not readily available to support such an adjustment. However, the appraiser has the ability to apply non -quantitative adjustments, known as qualitative adjustments, to a comparable property for differences in marketable features between the subject and comps. A series of (+), (-) and (_) symbols are applied to a comparable sale to represent a property characteristic difference in comparison to the subject that is inferior (+), superior (-) or equal (_) to the subject property. These adjustments are applied based on the appraiser's experience with properties similar to the subject and the net qualitative adjustments are utilized to help the appraiser in appropriately weighting the comparable sales in the final value conclusion. In this appraisal, qualitative adjustments were applied for the following property characteristics: Identity/Access In this category, differences in identity were considered. Locations with higher traffic or noise levels would be inferior to locations with low traffic for residential properties like the subject. Corner Lot/Cul-de Sac Corner lots or cul-de-sac lots are generally more appealing in the residential market as they can offer more privacy from neighbors than other lot locations. NeighborhoodNiew Neighborhood locations within a market area can have an influence on site value. Properties located in developments with newer homes can be more appealing, especially for buyers intending to build a new home, than locations in more established neighborhoods with older homes. The following map displays the approximate locations of the comparable land sales. The comparable sale data sheets can be found in the addendum. S.P. 7102-135RW C.S. 7102 (10=3) 902 Parcel 7102-902-229C Page 39