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<br />e <br /> <br />e <br /> <br />e <br /> <br />SCOPE OF THE ASSIGNMENT <br /> <br />The purpose of this Basic Data Study (the Study) is to identify core real estate valuation <br />issues affecting the potential Oak Creek Reservoir Project (the Project). The original <br />scope of the assignment was to prepare appraisals of specific properties. The scope <br />evolved to this Basic Study as a consequence of my investigation and meetings with the <br />client. <br /> <br />A Glossary containing relevant definitions is in Addenda A. A copy of the engagement <br />correspondence is also included. <br /> <br />CLIENT I INTENDED USE OF THE REPORT <br /> <br />The client is the City of Florence, Colorado. The function and intended use of the Study <br />is to assist the client's planning efforts relative to the Project. No other use of the <br />appraisal is either authorized or anticipated. <br /> <br />REPORT FORMAT <br /> <br />This is a .Summary Report. as described in Standards Rule 2-2(b) of USPAP. A <br />summary report includes summary presentation of data, reasoning, and analysis used <br />in the process to develop an opinion of value. Additional documentation is retained in <br />. my file. The level of detail presented is specific to the needs of the client and for the <br />intended use. I am not responsible for unauthorized use of this report. <br /> <br />DATE OF INVESTIGATION <br /> <br />Date of Study: <br /> <br />The fieldwork was completed during October and <br />November of 1999. I summarized my conclusions <br />during a meeting with the City Manager on November <br />16, 1999. <br /> <br />Date of this Report: <br /> <br />The client subsequently provided additional <br />authorization to prepare this summary report. It was <br />prepared during the week of May 8, 2000. <br /> <br />@ FELLOWS REAL ESTATE CONSULTANTS, INC. <br />ALL RIGHTS RESERVED <br /> <br />2 <br />301BASEUNE <br />