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<br />DAHLEN & DWYER, INC. <br /> <br />GENERAL INTRODUCTION <br /> <br />Brief Property Description <br /> <br />The property under analysis is a detached frame bungalow with detached frame <br />2-car garage and a 12'x 18' detached frame shed/garage, all located on a 133.6' x <br />116.09' site at the NEC of Shryer Avenue and Hamline Avenue N in Roseville, <br />Minnesota. <br /> <br />Scope of the Appraisal <br /> <br />The scope of the appraisal encompasses the required research and analysis to <br />prepare a professional report in accordance with the purpose of the appraisal and its <br />intended use. This report has been prepared in accordance with the Standards of <br />Professional Appraisal Practice of the Appraisal Foundation. I have identified the most <br />significant procedures conducted in the process of collecting, confirming, and <br />reporting the data used to prepare an appraisal which meets the requirements of the <br />Uniform Standards. This report contains those procedures I consider the most <br />appropriate for this particular property and appraisal assignment. <br /> <br />My investigation included a thorough inspection of the property along with an <br />analysis of the general neighborhood. I have surveyed other properties in the market <br />area along with competitive areas to evaluate the strength of the residential real estate <br />market. <br /> <br />I have used both the Replacement Cost Approach to Value and the Direct Sales <br />Comparison Approach to Value in estimating the market value of the subject property. <br />The final value conclusion is based upon a reconciliation of improved sales, market <br />forces, and variables mentioned in this report. <br /> <br />3 <br />