#2950- Deed; WARRANTY DEED Parcel “A” Beginning At SE Corner Of Lot 166 Then W Along S Line Of Lot 166 For 122’ Then NE To A Point On The North Line Of Lot 166 And 69’ W Of The NE Corner Of Lot 166 (Part 2)

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Site Data The site which is the subject of this appraisal review is vacant land having 39.62' of frontage on Broadway Street and is 153' deep. This area totals some 6,058.81 SF. The site is basically rectangular in shape. The topography of the site is flat and drainage appears to be adequate. The street improvements include concrete sidewalks, curbs & gutters and a paved street. All city and municipal utilities are available to the site including electricity, and natural gas. No easements, private restrictions or other encumbrances having a detrimental affect on the value as noted. Zoning The subject site is zoned `B" Residential. Highest and Best Use The highest and best use is to develop lot for residential use. Cost Approach The Cost Approach bases the value on the costs required to replace or reproduce the subject property, taking depreciation and age into consideration. There are no improvements on the property under appraisal. Therefore, the Cost Approach is not used in this analysis. Income Approach The rationale of this approach is that the value of a property can be estimated by analyzing the potential income stream it is capable of generating and then deducting the typical operating expenses incurred in generating that income stream. This process yields a net operating income. This income is then capitalized to a value estimated using one or more of a variety of methods which properly relate the net operating income of the property to its value. The first step in the Income Capitalization Approach process is to determine the potential income that the property is capable of producing. There is no rental demand for this site. Since this property produces no income, the Income Capitalization Approach does not apply. Sales Comparison Approach The Sales Comparison Approach is the process in which a market value estimate is derived by analyzing the market for similar properties and comparing these properties to the subject property. The sales comparison approach is applicable to all property types for which there is a sufficient number of recent reliable transactions to create a value pattern from the marketplace. This approach has been employed in the analysis of the land value of the subject property.