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USPAP APPRAISAL REQUIREMENTS <br /> The Uniform Standards of Professional Appraisal Practice requires a number of <br /> items to be covered in this report, plus a signed certification. Some items are of particular <br /> importance and these are addressed as follows: <br /> Competency Provision: <br /> The appraiser established his full service appraisal company in 1969 and has <br /> appraised a number of commercial, industrial, and residential properties in St. Joseph <br /> County, Indiana. The appraiser is thoroughly familiar with the format for appraising a <br /> commercial building such as this. <br /> Sales History: <br /> It is my understanding that PNA (Polish National Alliance) purchased this building <br /> in 1949. The initial purchase price is unknown. Since this is in excess of three years, it is <br /> no longer relevant. <br /> Marketing Period: <br /> This building has been remodeled into a fraternal club, which makes it somewhat <br /> unique. If this building were marketed a logical buyer would be another fraternal <br /> organization that could utilize the building to its best advantage. This would extend the <br /> marketing period substantially, and it would be reasonable to assume a marketing period of <br /> 1-3 years. <br /> r _ <br /> Market Trends: <br /> The real estate market for commercial buildings has been relatively quiet over the <br /> past few years since the economic recession. However, it appears that activity in this <br /> sector is starting to pick up. <br /> Personal Property: <br /> The Appraisal is confined to the land and buildings constructed thereon. No <br /> personal property is included in this report. <br /> i <br /> 1 <br />