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Lake State Realty Services, Inc. <br /> 2140 Otter Lake Drive White Bear Lake, MN 55110 651- 653 -0788 Fax 651- 653 -1381 <br /> E -Mail lakestate@goldengate.net <br /> October 8, 1999 <br /> Mr. Jim March, City Administrator <br /> The City of Centerville <br /> 1880 Main Street <br /> Centerville, Mn 55038 <br /> RE: Limited Scope Summary Restricted Market Value Appraisal of: <br /> The public works site located on Centerville Road, between Sorel and Heritage Streets <br /> Centerville, MN 55038 <br /> Dear Mr. March: <br /> Pursuant to your request, we have prepared a limited scope summary restricted market value <br /> appraisal report for the above mentioned property. <br /> Client and Statement of Intended Use: <br /> This report is prepared for Mr. March, for the intended use of determining the fair market value <br /> range of the subject property for intemal planning purposes of sale price estimates related to a <br /> redevelopment project. <br /> Type of Appraisal: <br /> We have established that the client understands the limited utility of this Restricted Report and has <br /> established that a Restricted Appraisal Report is suitable for Mr. March's intended use. <br /> This is a Restricted Appraisal Report of a Limited Appraisal made according to the binding <br /> requirements and guidelines of the Uniform Standards of Professional Appraisal Practice (USPAP). <br /> We have performed all of the procedures of the Valuation Process required by USPAP for a <br /> Complete Appraisal except those which the client instructed me to omit, since they are not applicable <br /> to this appraisal problem. These omissions, called departures, are permitted by USPAP and they are <br /> disclosed and explained in the following pages of this appraisal report. We have agreed to perform <br /> this limited appraisal service as requested on behalf of Mr. March, and have advised about its <br /> 2 <br />