#2562- Deed; QUIT-CLAIM DEED Haney's Addition 210 East Broadway

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Appraisal Group, Inc. LAND APPRAISAL REPO File No. 1234567 RT Borrower SOUTH BEND BD. OF PUB. WK ..Z.Properly Census Tract Map Reference 8 13 % Address 206 BROADWAY City SOUTH BEND CountyST. JOSEPH state IN. ZIPCade 46601 Description LOT 75 EX 20' X 50' SW COR HANEYS ADDITION ;'.tiLegal p' Sale Price S N[A Data of Sale N A Loan Term N/A yrs. Property Rights Appraised 0 Fee ❑ Leasehold ❑ De Minimis PUD I—: Actual Real Estate Taxes s N/A (yrl Loan charges to be paid by seller s N/A Other sales concessions N A _. LendedClient BOARD OF PUBLIC WORKS Address 13TH FLOOR CO. —CITY BLDG ;�;,,�..,• Occupant VACANT LAND A ppraiser CARPENTER Instructions to Appraiser MARKET VALUE �i Location X Urban LJ Suburban Li Rural Good Avg. Fair Poor Built-up ❑ Over 75% X❑ 25% to 75% ❑ Under 25% Employment Stability ❑ ® ❑ ❑ Growth Rate ❑ Fully Dev. ❑ Rapid ❑Steady Slow Convenience to Employment ❑ X❑ ❑ ❑ Property Values ❑ Increasing ❑ Stable X❑ Declining Convenience to Shopping ❑ R ❑ ❑ Demand/Supply ❑ Shortage ❑ In Balance FRI Oversupply Convenience to Schools ❑ R1 ❑ ❑ Marketing Time ❑ Under 3 Mos. ❑ 4-6 Mos. ® Over 6 Mos. Adequacy of Public Transportation ❑ ® ❑ ❑ 0 Present Land Use 10 %1 Fmly 10 % 2-4 Family _% Apts. , % Condo _ % Commercial Recreational Facilities ❑ a _% indusirlal 80 % Vacant % Adequacy of Utilities ❑ ® ❑ ❑ Change in Prasent Lend Use ONot Likely ❑ Likely 1'1 Taking Place(') Property Compatibility ❑ ® ❑ ❑ �+~ f'I From VACANT TOPUBLIC USE Protection from Detrimental Conditions ❑ X❑ ❑ ❑ a> Predominant Occupancy Owner Tenant % Vacant Police and Fire Protection ❑ ❑ ❑ ❑ ❑ Single Family Price Range s to $ Predominant Value S General Appearance of Properties ❑ R1 ❑ ❑ ,. Single Family Age yrs. to yrs. Predominant Age yrs Appeal to Market ❑ X❑ ❑ ❑ Comments including those factors, favorable or unfavorable, affecting marketability (e,g, public parks, Schools, view: noise): SUBJECT NEIGHBORHOOD IS LOCATED SOUTH OF A PREVIOUS MODEL CITIES PROJECT WHICH DEMOLISHED MANY STRUCTURES AND REPLACED NONE. SEVERAL OF THE REMAINING HOME OWNERS WERE GIVEN LOANS TO IMPROVE THEIR STRUCTURES HOWEVER MOST OF THE REMAINING STRUCTURES ARE DETERIORATING. RECENT PUBLIC PROGRAM HAS INITIATED APT CONST. Dimensions 40 X 103 X 20 X 50 X 20 X 153 = 5.120 , Sq. Ft. or AXE( Corner Lot Zoning classification B—BUSINESS Present improvements FX1 do ❑ do not conform to zoning regulations Highest and best use ❑ Present use 5?] Other (specify) PUBLIC SERVICE Public Other (Describe) OFF SITE IMPROVEMENTS Topography FLAT Electricity � Street Access X❑ Public ❑Private size FAIR Gas X❑ Surface IMPROVED Shape IRREGULAR 75 water 7 Maintenance ® Public ❑ Private View URBAN t San. Sewer © X❑ Storm Sewer ® CurblGutter Drainage AVERAGE ❑ Underground Elec. & Tel, X❑ Sidewalk a Street Lights Is the Property located in a HUD Identified Special Flood Hazard Area? ® No ❑ Yes Comments (favorable or unfavorable including any apparent adverse easements, encroachments or other adverse conditions): THERE APPEARS TO BE NO UNFAVORABLE OR ADVERSE EASEMENTS WHICH AFFECT SUBJECT PROPERTY. AS CAN NOTED IN THE ABOVE DIMENSIONS SUBJECT HAS HAD A PORTION OF THE REAR YARD ELIMINATED WHICH LESSENS THE DEVELOPMENT POTENTIAL OF THE PROPERTY. The undersigned has recited three recent sales of properties most similar and proximate to subject and has considered these In the market analysis. The description Includes a dollar adjustment reflecting market reaction to those Items of significant variation between the subject and comparable properties. If a significant item in the comparable property Is superior to or more favorable than the subject property, a minus J.) adjustment Is made thus reducing the Indicated value of subject; If a significant Item in the comparable is intartor to or iass lavorable than the sublect property,.! plus f+1 adjustment is made thus increasing the indicated voiva or rna s,Jbiact. ITEM SUBJECT PROPERTY COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3 Address 210 BROADWAY 606 WENGER 829 W CALVERT KALEY ST BTWN LWW SOUTH BEND SOUTH BEND SOUTH BEND & HUMBOLT SO. BEND Proximity toSubect NEIGHBORHOOD SIMILAR NEIGH'HOOD BETTER NETGH'HOOD Sales Price sN A s 400.00 - sl 000.40 -:-: $1 000.00 Price sN A s .076 SF s 189 SF $19 SF Q Data Source ASMT INSPECT . MLS DATA MLS DATA MLS DATA Date of sale and DESCRIPTION DESCRIPTION Adjustment DESCRIPTION Adjustment DESCRIPTION Adjustment Time Adjustment 1980 +300 1990 -0- 1985 +250 Li,t Location FAIR FAIR FAIR AVERAGE -250 X.. SiteNiew 40 X 103 ETC 40 X 132 -300 50 X 132 -500 40 X 132 -300 Q UTILS WATER SEWER WATER SEWER WATER SEWER WATER SEWER 12' ZONING B-BUS B-BUS A-RES A-RES BETTER NEIGH'HOOD -300 Sales or Financing Concessions Not Adm. Total) Plus Elmi nu s. S 500 inus. usKMinus S —600 Value Y, t3CEPklu..so .-,X,5M- dinu, >Indicated . . PiuCP'al of Subject Grp;ISO. 400 500 400 Comments on Market Data: NO 1 IS MORE COMPARABLE TO SUBJECT BECAUSE IT IS IN THE NEIGHBORHOOD AND HAS THE SAME INFLUENCES CONTROLING IT. Comments and Conditions of Appraisal: SUBJECT IS AVAILABLE FOR DEVELOPMENT, HOWEVER, THE CONFIGURATION OF THE 'LOT CREATES A POTENTIAL. LESSENING TO DEVELOPMENT D; 2- Final Reconciliation: THE SUBJECT MATTER OF THIS APPRAISAL RELATES MORE DIRECTLY TO NO 1 COMP BECAUSE IT IS J_ CLOSER IN LOCATION THAN THE OTHERS. 3' I ESTIMATE THE MARKET VALUE, AS DEFINED, OF SUBJECT PAOPERTY AS OF APRIL 11 , 19 95 to be s 450.00 Appraiser(sl .�.— Review Appraiser (if applicable) DOUGLAS L . C ENT R XD Did ❑ Did Not Physically Inspect Property 5187.1 MCS, Richardson, TX 75081 {2141 699-77B3 MCS Form LA2