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

LOVE APPRAISALS, INC.
SUMMARY OF FACTS AND CONCLUSIONS
Name of the Individual Making the Report:
Maggie Love, MAI, President
William B. Love Appraisals, Inc.
Post Office Drawer C
Cortez, Colorado 81321
Agency Name: Animas-La Plata Project
IVIS Number: R13035 (Case No. 00041450)
Co-Clients/Intended Users: U.S. Department of the Interior - Office of Valuation
Services (OVS) and the Colorado Water Conservation Board (CWCB)
Effective Date of the Appraisal: Retrospective market value as of October 10, 2002
Dates of Inspection: September 11, December 6 and 12, 2013
Dates of Report: September 11, 2013 through February 11, 2014
Identification:
Case Name: Animas-La Plata Project
Location: Durango, La Plata County, Colorado
Acreage: The U.S. Bureau of Reclamation perpetual easement
encumbers one parcel containing 46.27 acres
Case Type: Acquisition of a perpetual easement
Retrospective Opinion of Value of the U.S. Bureau of Reclamation's perpetual
easement, in terms of cash or financing terms equivalent to cash:
$4,356,000
There are no hypothetical conditions or extraordinary assumptions.
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