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SUMMARY OF IMPORTANT FACTS <br /> ADDRESS: 6995 20 Avenue South, Centerville, MN, 55038 <br /> PROPERTY TYPE: Three one -level buildings used for light industrial purposes <br /> OWNER: According to county records the owner is: Lake Area Utility Contract, with <br /> a mailing address of the subject. <br /> INTEREST APPRAISED: Fee simple estate <br /> APPRAISAL PURPOSE: To determine fair market value range <br /> APPRAISAL USE: Potential acquisition <br /> BUILDING SIZE: Office building: 1,020 s.f.; Shop building: 3,347 s.f.; Storage building: <br /> 6,000 s.f. Total GBA = 10,367 s.f. <br /> DATE BUILT: Office building: 1978; Shop building: 1981; Storage building: 1985. <br /> SITE SIZE: improved site = 1.73 acres; unimproved site = 2.99 acres = total of 4.72 <br /> acres <br /> PROPERTY I.D. #: The subject appraised is part of: 2331122410003 <br /> ASSESSOR'S MARKET YEAR LAND BUILDING TOTAL <br /> VALUE: 1999 $32,700 $127,700 $154,500 <br /> 1999 PROPERTY TAX $6,447.80 (current assessment balance amount payable is $2,422.54) The <br /> AMOUNT: assessment amount does not include the assessments for city water and <br /> sewer, which are detailed, pro -rate later in this report. <br /> HIGHEST AND BEST USE: As currently improved <br /> MARKET APPROACH CONCLUSION: Improved site: $311,000 to $332,000 <br /> Unimproved site: $72,000- 78,000 (with fill); $10,000 (no fill) <br /> INCOME APPROACH CONCLUSION: N/A <br /> COST APPROACH CONCLUSION: Improved site: $305,000 - $309,000 <br /> APPRAISER'S ESTIMATE OF MARKET VALUE: Improved site: $310,000 to $330,000 <br /> Unimproved site: $72,000- 78,000 (with fill); $10,000 (no fill) <br /> DATE OF VALUATION: April 20, 1999, the date of inspection <br /> APPRAISERS: .Julie Jeffrey- Schwartz, Certified General Appraiser <br /> 1 <br />