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Mr. Brian Sauers <br /> March 23, 1988 <br /> Page Four <br /> in and near the center of the city, to range in price from approximately <br /> $0.3 per square foot to $.11 per square foot. Generally these properties <br /> are single family dwelling lots from which the residential dwelling <br /> units which at one time existed have been demolished and removed. <br /> The remaining lots are typically unusable for building purposes but are <br /> often added to the adjacent parcels for use in enlarging the size and <br /> utility of those parcels. <br /> The nature, utility and adaptability of public alleyways lying within the <br /> central business district of the city of South Bend are similar enough <br /> in terms of location, utility and adaptability to compare with these <br /> values. <br /> Therefore, in applying the values found consistently among properties <br /> similar to the subject, and in consideration of the commercial nature of <br /> the south half of the proposed alley vacation which herein is ascribed <br /> a value of $.22 per square foot combined with the value of the north <br /> half of the proposed vacated alley which herein is ascribed at a value <br /> of $.11 per square foot. It is the opinion of the appraiser that the <br /> Fair Market Value of the subject property is $.165 per square foot <br /> overall for a total of $ 457.38 or rounded, $ 460.00. <br /> This report is based upon my personal inspection of the subject property <br /> and was made subject to the following assumptions and limiting <br /> conditions: <br /> 1) No responsibily is assumed for matters which are legal in nature <br /> nor is any opinion of the quality of the title to be conveyed <br /> rendered. Title is assumed to be marketable in the fee simple. <br /> The value estimate is given without regard to any question about <br /> boundaries, title, encumbrances, easments, encroachments or other <br /> matters which may affect title and the appraiser assumes no <br /> liability therefor. <br /> 2) All information, comments and opinions rendered by the appraiser <br /> herein regarding location, neighborhood trends, customary uses, or <br /> any other data regarding the subject property appraised herein <br /> represent the view and opinion of the appraiser formed after an <br /> examination of the property and the pertinent documents. <br /> 3) The appraiser assumes to be reliable the information furnished by <br /> others but assumes no liability therefor and does not in any way, <br /> expressly or implicitly, warrant its accuracy. While it is <br /> believed the information, estimates and analysis rendered, and the <br /> opinions and conclusions drawn therefrom are correct and accurate, <br /> no warranty is given and the appraiser assumes no liability for <br /> errors or omissions of fact, analysis or judgment. <br /> 4) The appraiser has made no survey of the property and assumes no <br />