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9614 2 <br /> <br />SCOPE OF APPRAISAL <br /> <br />Commercial Study Areas: <br /> · Elk River <br /> · Highway 10 Corridor Elk River/Ramsey <br /> <br /> · Highway 169 Corridor Elk River/Ostego/Hassan/Frankfort <br /> <br />Industrial Study Areas: <br /> · Elk River <br /> · Ramsey <br /> <br /> · Rogers/Dayton/Hassan <br /> <br />We have made a drive-by inspection of the accessible portions of the project area. <br />However, we have not physically inspected the existing parcels which comprise the <br />project area. The properties involved in the project area represent a diverse mix of <br />unimproved lands and improved properties. We have made certain assumptions <br />concerning the highest and best use of these properties which have a direct bearing on <br />value and benefit. Please see the highest and best use analysis on the following pages. <br /> <br />Patchin & Associates, Inc. <br /> <br />Valuation Consultants. <br /> <br /> <br />