REP47748

• Permit No: M1993059
• IBM Index Class Name: Report
• Doc Date: 1/21/1994
• Doc Name: UNIFORM AGRICULTURAL APPRAISAL REPORT
• Media Type: D
• Archive: No

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01992 -American Society of Farm Managers and Rural Appraisers, Inc.
Rnhart H_ Randfa Anoraisal Report # 0194TEMP
S Reconc)Iiatio~ & Final Value Estimate : : ;.:.:; .

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Cost Approach ........................................................................
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a Income Approach .................................................................... . S 564,000 -
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y . Sales Comparison Approach ....................................................... . S 568,000
Analysis of Each Approach & Conclusion of Value:
Since there were no improvements on any o1 the properties the cost approach was not used.

~ ~ ~ The Market Approach best reflects the buyer and seller motivations with the moat weight being placed on
this approach. The most weight will be placed on the farmland sales under the BuMelo (Pt02a 8 end
~i. PI0.38fi). A time adjustment was necessary. The other salsa were of land under other ditches but do help
~'8 ~ substantiate the estimated market value.
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~ The income approach helps substantiate the market approach.
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A. Value Conclusion- (Estimated Marketing Time 1z months) S 568 000
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o. Cost of Repairs $
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c Cost of Additions $
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' t Allocation: Land: S 568, 000 S 688/ACRE (100%)
i Land Improvements: S 0 S 0/ ( 0%)
Structural Improvement Contribution: S 0 ; 0/ ( 0%)
n Non-Really Items: S 0 S 0/ ( 0%)
o Leased Fee Value (Remaining term o1 encumbrance 0 ) S 0
f Leasehold Value S 0
~. Comments:
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1... Personal property or non-realty items were not valued in this repon.
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' Thb brm mull be completed q' a pmM1islonal approlser, wtw ahaukl defsrmMe M sulleblllty for specmc application. The psreona rAro hew cogdbuted fo fhe development q
publishing q this lortn and the ASFMM make ro roprcaanWlona or vivranflea as to ha suitability or use; they shell nq bs IISMe br any erroro or misropreaenleflona or for Incltlanflel,
wnaepusntlN, or any ghat damage rosuaing Irom the Nmbhtng, completion, or use d thle lotto. The ASFMM rswmmends that the 1BB2 Uneonn Agncullurel ADDralsal Report
h1AAfi~ Guidebook W used br eompletlon d this bon ropon. Changes to Ihia form may fb made by tM ASFMM e) any time, Wlhout ndice. The -Sellam Feel Pegs', vftan ueetl es a
date summery Mputlely Irom fhe UAAR psctaga, b not to be construed as en epproiael. Page 1 ~ of 12