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-~ <br />R. L. rrrTS ~ assoclATFS, rNC. <br />Real Estate.lppraisers ~ Cou~uli:mts <br />Mr. Nick Witwer September 15, 2008 <br />Economic Development Planner <br />Community & Economic Development <br />1200 County-City Building <br />South Bend, IN 46601 <br />Re: Appraisal Proposals, Economic Development Areas, South Bend, IN <br />Dear Mr. Witwer: <br />Pursuant to your request, I hereby submit a proposal for appraisal services for the above referenced <br />subject properties. The appraisals shall be prepared for and are for the sole and exclusive use of the <br />client and its assigns. The purpose of the appraisals is to estimate the Market Value of the Pee <br />Simple Interest in the subject properties "As-Is". In this appraisal assignment, the appraiser will <br />consider all recognized approaches to value and will apply the relevant approach or approaches. The <br />effective valuation date of the appraisal will be the date of inspection of the property by the <br />undersigned appraiser. The appraisal will be reported in Summary Narrative format and will <br />conform to the reporting requirements of Standards Rule 2-2b of the Uniform Standards of <br />Professional Appraisal Practice (USPAP) and the Financial Institutions Reform, Recovery and <br />Enforcement Act (FIRREA). The completion date for the assignment is estimated to be within 30 <br />days upon of acceptance of this proposal (completion schedule will be prioritized per client request) <br />and receipt of any relevant documentation needed for preparation of the reports in a timely manner. I <br />will furnish (2) original copies of the appraisal report. An invoice for the appraisal fees will be <br />submitted at the time the reports are completed. The individual appraisal fees are stated below. <br />1) NW Quadrant Franklin street/Indiana Ave (Key #18-8027-1085) <br />24,000 SF +,i- Warehouse Building <br />Owner: Larry Burton <br />Appraisal Fee: X3,700 <br />2) West side Taylor Street (Key #18-8026-1064) <br />Vacant Land <br />Owner: Larry Burton <br />Appraisal Fee: $1,600 <br />Flick Pius. D]AI <br />50.580 Woodbury 41'ay • (>ranger, W x6530 <br />,~.~''~`~ spa-a~a-3224 • F•:~x: spa-z~a-32za <br />A1A1 , PittsAlAl<~anLaan <br />