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<br />DAHLEN & DWYER <br /> <br />ID:651-223-5736 <br /> <br />JUN 28'00 <br /> <br />15:13 No.OO3 P.O4 <br /> <br />This appraisal has been made subject to certain limiting conditions and <br />assumptions as hereinafter expressed. Such facts and information as contained <br />herein were obtained from sources that t consider retiab1e and are true to the best of <br />my knowledge and belief. <br /> <br />A U Phase I Environmental Site Assessment" has not been completed on the <br />subject property as of the date of this appraisal. It is assumed, for purpose of this <br />appraisal, that there are no hazardous materia1s on or in the property. <br /> <br />Information in this report was gathered from sources believed to be reliable, but <br />is not guaranteed. Possession of this report, or a copy thereof, does not carry with <br />it the right of publication nor may it be used for any purposes, except that for which <br />it was requested without the previous written consent of the appraiser and, in any <br />event, only with proper qualification. <br /> <br />The following report describes my method of approach, contains data gathered <br />in my investigation, and demonstrates my analysis in arriving at the estimate of <br />market value for the subject property. <br /> <br />Respectfully submitted <br /> <br />~ LEN & DWY£R,- 'IN,Ç. <br /> <br /> <br />~¿1 <br /> <br /> <br />--. <br /> <br />Daniel E, Dwyer I President <br />Certified General Real Properties Appraiser <br />MN License #4001 1 70 <br /> <br />OED/kg <br /> <br />D&D File #: 395 <br />