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Jerome E. Michaels, MM <br /> Real Estate Appraiser • Consultant <br /> 116 5. ST. LOUIS BOULEVARD • SOUTH BEND, INDIANA 46617 <br /> / (219) 233-1449 • FAX (219) 288-1449 <br /> L <br /> July 20,2015 <br /> Mr.David Relos <br /> Economic Resources <br /> Dept.of Community Investment <br /> 227 W.Jefferson Blvd. <br /> South Bend,IN <br /> RE: Polish Nation Alliance#83 <br /> 2401 Western Avenue <br /> South Bend,IN <br /> Dear Mr.Relos: <br /> Pursuant to your request,we have personally inspected the above captioned property for the purpose of estimating <br /> its Market Value. <br /> A definition of Market Value and a legal description of the property are contained within this report. <br /> ( The property rights appraised are all those right rights accruing to the"Fee Simple Title Holder." <br /> It is our opinion that the Market Value of the property as of July 7,2015 is: <br /> TWO HUNDRED FIFTY THOUSAND DOLLARS <br /> ($250,000.00) <br /> Immediately following this letter of transmittal is a narrative appraisal report having several pages of <br /> documentation containing the methodology and rationale used in arriving at this value estimate. This report is for <br /> the exclusive use of our client,the City of South Bend.. <br /> We hereby certify to the best of our knowledge and beliefs that the statements contained in this report are correct <br /> and that we have no present or future interest in the property appraised. The amount of our fee i of based in 4 <br /> way upon the valuation of t}}}he property appraised. <br /> Npectfully submitt: <br /> • <br /> e E.Michaels,MAI Christopher J.Michaels,Trainee <br /> ified General Appraiser Certified Residential Appraiser <br /> <te of Indiana State of Indiana <br /> CG69201428 LR69201584 <br />