Laserfiche WebLink
PURPOSE OF THE APPRAISAL <br /> The purpose of this appraisal is to estimate the current fair market <br /> value of the Mid-Continent Industrial Property. "Market Value" , as <br /> used in this appraisal , is defined as follows: <br /> "The most probable price in terms of money which a <br /> property should bring in a competitive and open market <br /> under all conditions requisite to a fair sale , the buyer <br /> and seller , each acting prudently, knowledgeably and <br /> assuming the price is not affected by undue stimulus." <br /> "Implicit in this definition is the consummation of a <br /> sale as of a specified date and the passing of title from <br /> seller to buyer under conditions whereby: (1 ) buyer and <br /> seller are typically motivated; (2) both parties are well <br /> informed or well advised , and each acting in what he <br /> considers his own best interest; (3) a reasonable time is <br /> allowed for exposure in the open market; (4) payment is <br /> made in cash or its equivalent; (5) financing, if any, is <br /> on terms generally available in the community at the <br /> specified date and typical for the property type in its <br /> locale; (6 ) the price represents a normal consideration <br /> for the property sold unaffected by special financing <br /> amounts and/or terms , services , fees, costs , or credits <br /> incurred in the transaction." <br /> The definition of value has been taken from "Real Estate Appraisal <br /> Terminology" , published jointly in 1981 by the American Institute of <br /> Real Estate Appraisers and the Society of Real Estate Appraisers. <br /> It is my understanding that this appraisal may serve as a basis for <br /> bond surety. <br /> LEGAL DESCRIPTION <br /> A 6 . 12 acre tract in Section 33 and 34, Township 7 South, Range 88 <br /> West of the Sixth Principal Meridian , Carbondale, Garfield County , <br /> Colorado. <br /> Together with an interest in common, in a roadway and right-of-way <br /> extending from the northwest corner of the above tract westerly to <br /> State Highway 133. <br /> The legal description can be found in the addenda. <br /> PROPERTY RIGHTS APPRAISED <br /> Property rights appraised in this value estimate are in fee simple <br /> title. All existing liens , leases , and/or encumbrances have been <br /> disregarded unless otherwise indicated . Also , the Appraiser has <br /> given no separate consideration to a division of interests beyond <br /> fee; simple ownership. <br /> -4- <br />