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LOVE APPRAISALS, INC. <br /> searched a long chronological time period for sales to Colorado governmental <br /> entities. <br /> The larger parcel also has a complicated bundle of rights. The bundle of <br /> rights theory is "The concept that compares property ownership to a bundle of <br /> sticks with each stick representing a distinct and separate right of the property <br /> owner, e.g. the right to use real estate, to sell it, to lease, to give it away, or to <br /> choose to exercise all or none of these rights". (Dictionary of Real Estate <br /> Appraisal, 5th Edition, page 24) <br /> The Animas-La Plata Water Conservancy District (District) owns the fee <br /> simple estate subject to DOE Land Use Restrictions. The Colorado Water <br /> Conservation Board (CWCB) and the U.S. Bureau of Reclamation (Bureau) have <br /> perpetual easements on the property. These numerous property rights and the <br /> restrictions and covenants are summarized on the grids in "Property Rights <br /> Appraised". To my knowledge, there are no sales with similar restrictions or <br /> combinations of interests. Consequently, it was not possible to apply a traditional <br /> before and after valuation per USFLA; the appraisal problem was credibly solved <br /> through the use of another method/technique. <br /> 21 <br />