LPPD000252

• Contract/PO #: C150146
• Contractor Name: Rothe, Mildred L.
• Contract Type: Loan
• Water District: 0
• County: Morgan
• Loan Projects - Doc Type: Contract Documents

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nServing customers from the plains to the rockies"

August 27, 2003

Jolm Van Sdver
Colorado Water Conservaticn Board
1580 Logan Street, Suite 750
Denver, Colorado 80203

Dear Mr. Van Sciver

Pursuant to your request, we have inspected the property owned by Emanual and Elmer Rothe, and have
made a careful and detailed aoalysis of all factors pertinent to the final estimate ofvaiue.

The purpose of this analysis is to make an estimate of the Market Value of the above mentioned property as
of June 24, 2003, the date of the IDem recent prOJUty inspection.

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The value conclusicns herein are subject to the Contingent and Limiting CCIlditions, the Appraiser's
Ceni:6.catioo. and the Definitim ofMarkct Value contained in "Ibis report. All infmnadon obtained is
believed to came ftcm rel.i.able sourcrs.

The accompanying Uniform. Agricultural Appraisal.Report is 8 Summar:v Report contains 21 consecutivdy
numbered pages plus the AljrlAVlll and the results of om analysis. This is a Summary .Appraisal Report
and, as such, it does not contain a complete discussioo. of the reasoning and supp<rt fur the appraisal
decision that would be found in a complete self-contained report. Additimal information Dot included in
the appraisal report is in OlD' files.

This reJQt is p-epared in accordance with our understanding of the Unibm Standards ofProfessicmal
Appraisal ,Practice and complies with the requirements afthe American Society ofFano ~ers and
Rural Appraism. CCIltingent and limiting CCIlditions applying to this repat can be foond on Page 20, The
Appraisers' Certi.ficatim is on Page 21, and the Appraisers' Qualificatious start (D Page 22.

In myopinioo, the market -value of tile subject property, as of June 24, 2003, is as follows:

EIGBTHUNDRED SEVENTY SIX mOUSAND DOLLARS

$876,.

Rfspectfully submitted;

#:t~&~~

Dmald L Jones
licensed Appraiser # AL01315374

Eugene Watt, ARA
Certified Genend Appraiser # CG01317224

Property Management. Consulting. Real Estate Sales. Appmisals .
221 W. Platte Avenue. Fori Morgan, CO 80701. Office: 970/867-7816. Fax: [phone]. Email: [e-mail]