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Lake State Realty Services, Inc. 2140 Otter Lake Drive White Bear Lake, MN 55110 (612) 659 -0920 Fax (612) 653 -1381 E -Mail lakestat@goldengate.net April 22, 1999 Mr. Jim March, City Administrator The City of Centerville 1880 Main Street Centerville, Mn 55038 RE: Limited Scope Summary Restricted Letter of Opinion Market Value Appraisal of: 6995 20 Ave. S., Centerville, MN 55038 Dear Mr. March: Pursuant to your request, we have prepared a limited scope summary restricted letter of opinion market value appraisal report for the above mentioned property. Client and Statement of Intended Use: This report is prepared for Mr. March, for the intended use of determining the fair market value range of the subject property for possible acquisition purposes. Tv e o A praisal: We have established that the client understands the limited utility of this Restricted Report and has established that a Restricted Appraisal Report is suitable for Mr. March's intended use. This is a Restricted Appraisal Report of a)✓imited Appraisal made according to e m mg requirements and guidelines of the Uniform Standards of Professional Appraisal Practice (USPAP). We have performed all of the procedures of the Valuation Process required by USPAP for a Complete Appraisal except those which the client instructed me to omit, since they are not applicable to this appraisal problem. These omissions, called departures, are permitted by USPAP and they are disclosed and explained in the following pages of this appraisal report. We have agreed to perform this limited appraisal service as requested on behalf of Mr. March, and have advised about its limitations. The client agrees that the performance of this limited appraisal service is appropriate considering the total estimated market value and the purpose of the appraisal request. 2 YEA ® Q MLS • uw.