#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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i Douglas L. Carpenter & Associates inc. LAND APPRAISAL REPORT File No. BROW17 Borrower BOARD OF PUBLIC WORKS consul Tract 29 Property Addri e, 317 A. BROADWAY Map Reference 7800 City spu7w BRM ceuntyST JOSEPH Staia IN Leger De 0PU— LOT 330 W & 7C BROADWAY zIP cod° 46625 s.re Price Date or Sere Loen Term Actuer Aeer Eaters 7exee ! yr°• Properly Right. Apprate oil MFoe ❑ Loeaenald E] Db Z. PUG lyrl Loan charges to be pnld by sailer a Other gates Conc°satonb OF Pi7BLIC WDRKS VA oAdSOSOUTH�c0—P.—CA[�7T BEND iN•DIA API APPr°la°r CARPENTER dress msnucuons to Apgrule°r APPRAISE FOR MARKET VALUE Location W Urban Built-up ❑ Over 75% suburban X❑ 25% to 76% R ura1 ❑ Under 26% Growth Rate ❑ Furly Dev. 1:1Rapid ❑ Steady Property Values ❑ Increasing ❑ Stable Slow M Declining Demand/Supply ❑ Shortage ❑ In Balance 191 Oversupply Marketing Time ❑ Under 3 Mos, ❑ 4-6 Mos. X❑ Over 6 Mos. Present Land Use 50 %1 Fmly % 2-4 Family 5 0 % Apts. % Condo % Commercial % Industrial % Vacant % Change in Present Land Use ❑Not Likely Did Likely (•I n Taking Placef') (,)From RESIDENTIAL ToINSTITUTIONAL Predominant Occupancy ❑ Owner ❑ Tenant % Vacant Single Family Price Range S to S Predominant Value $ Single Family Age yrs. to yrs. Predominant Age yrs Good Avg. Fair Poor Employment Stability El N1 Q El COnvenlGnco to Employment ❑ N1 Convenience to Shopping Convenience to Schools M ❑ Adequacy of Public Transportation ❑ x ❑ ❑ Recreational Facilities ❑ FRI ❑ Adequacy of Utilities ❑ n ❑ Property Compatibility Protection from Detrimental Conditions ❑ Police and Fire Protection El 1Z 11 El General Appearance of Properties y ❑ ❑ Appeal to Market ❑ 51 ❑ ❑ Comments including those factors, favorable or unfavorable, affecting marketebitity (e.g. public parks, schools, view, noise): SUBJECT LOT IS IN A REDEVELOPMENT AREA ^UNDER THESOUTHBEND REDEVELOPMENT COMMISSION. SUBJECT AREA IS OLD AND SEVERAL OF THE IN AVERAGE, BUT MOST IN FA �1'1,.-en'slicns 39.62 X 153 6058.81 Sq. Ft or a?F os corner Lot assihcaGon$-RESIDENTIAL Presont improvements X❑ do ❑ do not conform to zoning regulations Highest and best use ❑ Present use FXJ Other (specify) DEVELOPED RESIr)F_WTTAT,T,V Public Other {Describe) OFF SITE IMPROVEMENTS Topography FLAT Electricity Street Access X❑ Public ❑ Private Size AVERAGE ( Gas X surface PAVEMENT Snaps AVERAGE (q water Fx� Maintenance Public ❑ Private View AVERAGE San Sewer FX1 Q Storm Sower Fx] CurbiGuiter Drainage AVERAGE ❑ Underground Elec. & Tel. E S€dewalk FX1 Street Lights Is the Property located In a HUD Identified Special Flood Hazard Area? X No ❑ yes Comments (favorable or unfavorable including any apparent adverse easemems, encroachments or other adverse conditions): THE APPEARS TO BE NO UNFAVORABLE OR ADVERSE EASEMENTS OR ENCROACM4ENTS OTHER THAN THE NORMAL RIGHT OF WAY AND UTILITY. - 7ne undersigned has recited three recent sales of properties most similar and proximate to subject and has cov,derad these it the market analysis. The description includes a dollar adjustment rerlecting market reaction to those items of significant variation between the subject and comparable properties, It a significant item in the comparable property Is superior to or more favorable than the subject property, a minus f-I adjustment Is made thus reducing the indicated value of subject; if a significant item in the comparable is Inferior to or lass favorable than the subject Property. a plus (+) adjustment Is made thus Increasing the indicated value of the subjoct. ITEM SUBJECT PROPERTY COMPARABLE NO, 1 COMPARABLE NO. 2 COMPARABLE NO. 3 Address 317 E BROAD— 723 SOUTH BEND 2224 HILLSIDE 1600 WARREN WAY SOUTH BEND AVENUE SO. BEND SO. BEND SO. BEND Proximity to subject 2 MILES NORTH 2 MILES SW 2 MILES SW Sales Price 5 s 1850.00 1500 s 2000 }, Price if �. Data Source ASSESSMENT MLCS' # 127716 MLS# 126070 MLS# 122178 Z' Dare of Sale and DESCRIPTION DESCRIPTION Ad stment DESCRIPTION + Ad'ustment DESCRIPTION Adjustment Q, Time Adjustment 08 28 96 05 22 96 12 20 95 LU Location SINGLE FAMILY MULTI —FM SINGLE FM I SINGLE FM Id LC SuerView FAIR FAIR AVERAGE —750 1AVERAGE —750 a' SIZE 6058.81 SF 10873 —750 3990 +200 1 4800 +100 Sates or Financing Concessions Net Ad. ('total) Plus X Minus 8 —75D D Plus X Minus s —550 Plus %Minus a —650 Indicated value I7Bx& 3t} 3a ', ?da[t 3o i 33? 32 5 of subjoct` -' 100 - c3rs4 6:3.3''r S 950 o a -;.g ,5 I':> s 1,350 Comments on Markel Data: THE MARKET SALE COMPARABLES NO. S 2 AND 3 ARE LOCATED IN THE RUM VILLAGE AREA OF SOUTH BEND. THESE PROPERTIES WERE PURCHASED BY A DEVELOPER TO CONSTRUCT SMALL HOUSES IN THIS AREA. NO 1 WAS LOCATED ON SR 23 WHICH MAY CAUSE A NEGATIVE IMPACT ON THE LOCATION. I. Comments and Conditions of Appraisal: SUBJECT IS LOCATED NEAR THE: SAMPLE-EWING REDEVELOPMENT AREA WHICH IS TO ZIBECOME DEVELOPED AS A JUVENILE DETENTION CENTER AND POTENTIALLY AN INSTITUTION OF HIGHER 0 LEARNING. THE LOT WILL BECOME INFLUENCED BY THIS DEVELOPMENT. H _d Final Reconciliation: THE SUBJECT IS ON A CORNER WITH AN ALLEY WHICH IS SUPERIOR PARCELS IN THE SUBJECT L, AREA. ZT WOULD APPEAR THE VALUE OF THE PROPERTY RELATES TO NO. 2 AND THE PURCHASER OF NO.3 GAVE HIGHER VALUE FOR A DEEPER LOT THAN NO. 2 COMPARABLE J I ESTIMATE THE MA VALUE, AS DEFINED, (3GSUBJECT PROPERTY AS OF DECEMBER 30 1996 to be b 950.00 ii Appraiser(s) ,{ •t Review Appraiser (if applicable) DOUGLAS L . / PENTER ff XD Did ❑ Did Not Physically Inspect Properly 5167.7 MCS, Richardson, TX 75081 1214) 699.7783 li Form LA2