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._ <br />• <br />FRANK N[IjSL/~EY.JR., ivI.A.I.. A.R.A. <br />G/~ EQL t02-O(fl ~l Sa 11E: <br />519 GRAND - P.O. RO% 446 <br />GRAND JUNCTION, COLORADO 21501 <br />PHONE 24J-8063 <br />.Tames K. Greenlee <br />Vice President <br />Western Associated Coal Corporation <br />Suite 2300 <br />410 17th Street <br />Denver, Colorado 80202 <br />Dear Mr. Greenlee: <br />~ III IIIIIIIIIIIIIIII <br />j ^.a <br />~,:. ~ ~:, <br />October 28, 1982 <br />As you requested, we have looked at a portion of the Powder Mountain Ranch <br />property that has been affected by mining that has taken place underneath the <br />property. Our report covers some 86.4 acres of effected area and in making <br />it, we have assumed that the surface owner would be entitled to damages that <br />have been caused by subsidence due to mining below the surface. We <br />understand this may be a legal question that we are not qualified to answer, <br />Attached hereto is data gathered during our investigation upon which, in <br />part, our opinion of value is based. Our values are also based upon [he <br />assumptions that have been made in the report. <br />Of the 86.4 acres in the effected area, it is our opinion that 47.2 acres of <br />this would be developable and salable for potential homesite use. The <br />balance of the land, in our opinion, is too steep to develop economically and <br />will remain as grazing land and the subsidence if it takes place would not, <br />in our opinion, have much, if any, effect upon the value. Our opinion of <br />values would be as follows: <br />Value of the 47.2 acres <br />Value of the 47.2 acres <br />Damage due to subsidence <br />before subsidence <br />after subsidence <br />fully <br />Frayk~Nisley, <br />American In stir ule o/ Raal Estate Appraisers <br />American Sociery of Farm Managers 8 Rural Appraisers <br />$94,400.00 <br />$15,717.00 <br />$78,683.00 <br />i ted,/ <br />~~(//( ' <br />M.A ~,A.R.A. <br />Frank r; ~s ley. Jr and <br />Assoc~aie s. Inc <br /> <br />