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NAGELL ~-EP'R+4[SAL & GONS!lLT1~1G <br />T515 Wayzata Blvd. #1'15 Wilnn~apcsiis: 9i52~44.8~866 <br />Mfnneapofis, N1PJ 55426 St Paul 851.2t19-8159 <br />~stafa/fsftea fn 'f96& Central Fax 952-5dd-89$9 <br />City of ~Ik River October 18, 2087 <br />Attn: Catherine fvtehefich, t3irectar of laonomic E}eveiiopmettt <br />13065 C?rono Paekway <br />Elk Diver, Mid 55330 <br />RE: Appraisal of land <br />{yEC of Line Avenue & 189" Avenue, Elk River, MN <br />dear Nis. IUlehelich; <br />Thank you for your interest in obtaining appraisal services regarding the property above. Per our <br />conversation, you indicated an appraisal report with the fallowing research and ana[ysFs is needed. <br />Report UsaiValue Typa: The report use is to assist the airy in detemvning an r~ffer regarding the <br />possible purchase of the property. Current as is market values of the subject property as it relates <br />to highest and best use par Uniform Standards of Professional Appraisal PracEice wiMl be provided, <br />Property Description: A as»maraal sine welch about 4,5 acres owned by the United Sates Post <br />Of1ic~, trontact for access: IVat necessary, <br />-ccrpe +s# Report> (i) An inspection of the property and view the naigh~barhodd. (2j Report the <br />physical andtor economic factors that could affect the property. (3) Appropriate research, <br />oallection, verifica#ian, analyst and viewing of pertiroent market data will be conducted. Since the <br />subject i:s vacant land only the sales c~npartson approach will be applied. (4} Where <br />appropriate, camparables will be adjusted on a grid. (5) Report findings and conclusions. <br />Report Format" A Summary Retsort (narrative format) wiU be used. tt has a summary of <br />s#atements of the data, analysts and conclusions. Appropriate photos, maps and exhibits are <br />indttded. Two beryl capr'es of the report provided, <br />Fee: The fee is Client Warned above is n'SponsiBle fa- payment. Any subsequent report <br />revisionslupgradeslupaates are extra and would be biAed at $l5 per hour. <br />~tue Oaten report ran be completed by provided signed confim~ation is prompt.. <br />information needed Cay the appraiser at inspectirsn: Already provided. <br />Our txampany has 1U employees and has beery in business since 1968 and has su~cient <br />knowledge, experience, education and resources to competently complete this assignment <br />Neither the employment t4 make the appraisal, nor the ct}mpensation for it, is c3antingent upon the <br />appraised value of the property. If you agree to the above terms, please sign below and realm by <br />fax or mail. if you have arty additw~nal questions, please do not hesitate to contact me. <br />Sincerely, <br />.: ;;: .- _ ~ -y _ ,ter ~,.,. <br />Signatur <br />William R. Waytas, SRA, GRP <br />Certfied General 40008'13, MIV Date /~~-"C~ <br />www.catlna~ell.eam <br />Nagell Appraisal 8 Consulting ~ 952-544-8966 ~ www.callnagell.com <br />39 <br />