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gosdon E&I uat 9, z4ssoaafg16 Am RKAL L§TAT[ ArrRAMER9 <br /> Appraisal of: Cummings Property Page Seven <br /> CONCLUSION: <br /> Based on my experience and the information in this report it is my <br /> opinion that the subject property should be broken into three parts <br /> with values as follows: <br /> a. Area west of proposed T.H. 51 with 3.14 acres at $4500 per acre, <br /> Say $14,200. <br /> b. Central and southern part of tract east of proposed T.H. 51 and <br /> including approximately the south 420 front feet on Lexington with an <br /> area estimated at 11.53 acres at $2500 per acre or $28,800. <br /> C. The northerly frontage on Lexington with a depth of about 400 feet <br /> and adequate frontage for three residential sites at $10,000 per site <br /> or a market value of $30,000. <br /> As a result of my appraisal and analysis, it is my opinion that the market <br /> value of the subject property legally described heretofore as of November <br /> 21 , 1974, was ($73,000). <br /> SEVENTY-THREE THOUSAND DOLLARS <br /> Respectfully submitted, <br /> GORDON EIMQUIST & ASSOCIATES, INC. <br /> Gordon B. Elmquist, I, SREA <br /> GEE:mb <br /> • December 2, 1974 <br />