Appraisal Report for ALP 46.27 acres Retro. Value 10/10/02

LOVE APPRAISALS, INC.
Professional Appraisal Practice (USPAP) adopted by the Appraisal Foundation; the
Uniform Appraisal Standards for Federal Land Acquisitions (UASFLA) published in
2000; and the Statement of Work (SOW) included in the Addenda.
Due to the unique aspects of the appraisal, particularly the reservations and
the perpetual easement interests, it is not always possible to completely comply
with the UASFLA. For example, not all of the comparable sales have the "same
economic highest and best use". And, there are no sales available of similar
perpetual easement or sales with similar perpetual easements making a before and
after valuation confusing and not applicable. Accordingly, the UASFLA
requirement for a before and after valuation was not possible, resulting in the need
to employ another method/technique to produce credible assignment results.
Refer to the further discussion in "Summary of the Appraisal Problems".
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