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

LOVE APPRA1`.
above highway grade which assures good visibility. The only physical constraints
are a drainage and electric transmission lines, which transect the south portion of
the property, and a small part of the property in the northeast corner lies in the
Animas River. The size is larger than many of the uses in the neighborhood. Due
to the unique physical and locational characteristics, the sales search
encompasses a long chronological time span to arrive at sales with similar physical
features.
To be representative of the retrospective date of appraisal, I used historic
descriptions. For example, "Area Data" and "Neighborhood Data" were taken from
appraisal reports with similar dates of value. Illustrations of the comparable sales
use old aerials and plats available as of the date of value. However, I use later
information to help quantify the uncertainties as of the date of value, October 10,
2002.
The historic use and covenants and reservations are also unique. The
property was part of a past uranium mill site that was cleaned up by the U.S.
Department of Energy (DOE). The DOE imposed a Restricted Use Plan that was a
condition of any conveyance of the property. These documents are included with
the Assignment of Easement in the Addenda. The Grids showing ownership
interests and reservations are contained in "Property Rights Appraised".
Significant restrictions are that the use of the property is restricted to public
purposes and that the property cannot be transferred to anyone other than a
governmental entity within the State of Colorado. Because of these restrictions, I
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