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1 <br />' A value estimate of the minerals could also be developed by <br />t discounting projected production royalties to a present worth <br />estimate. This is highly speculative considering the current <br />' lack of demand for the material. Several sets of assumptions <br />were considered, and they generally conform to the $200 per <br />' acre figure. <br />If the property is sold or if quarry operations completely <br />cease, the liability for reclamation of the disturbed areas <br />' remains to be fu11fi11ed. It may be done by the current <br />1 owner or it may be assigned to another entity. I am viewing <br />it as a deduction from value. As a basis, I have used the <br />' surety bond amount on file with the State. <br />' Valuation Summary <br /> Land Value $250,000 <br />' Mineral Value <br />536.12 @ $200 (rounded) <br />$107,200 <br /> Total Property Value $357,200 <br />' Loss Reclamation $ 61,000 <br /> Total Value $296,200 <br />' Rounded $300,000 <br /> FINAL ESTIMATE OF VALUE <br /> <br /> $300,000 <br />l~ <br />1 <br /> <br />' <br /> 18 <br />1 <br />