EXECUTIVE SUMMARY ..... 1 SUBJECT MAPS ..... 2 GENERAL INTRODUCTION ..... 4 BRIEF PROPERTY DESCRIPTION ..... 4 SCOPE OF THE APPRAISAL ..... 4 PROPERTY IDENTIFICATION ..... 5 LEGAL DESCRIPTION ..... 5 OWNERSHIP INFORMATION ..... 5 TAX AND ASSESSMENT DATA ..... 5 ZONING ..... 6 DATE OF INSPECTION ..... 7 DATE OF MARKET VALUE ..... 7 DATE OF REPORT ..... 7 INTENDED USE INTENDED USER ..... 7 MARKET VALUE DEFINED ..... 8 PROPERTY RIGHTS APPRAISED ..... 8 PURPOSE ..... 8 PROPERTY DESCRIPTION ..... 9 NEIGHBORHOOD PROFILE ..... 9 SITE DESCRIPTION ..... 9 SUBJECT PHOTOS ..... 9 HIGHEST AND BEST USE ..... 10 SALES COMPARISON APPROACH ..... 11 ADJUSTMENT GRID ..... 12 COMPARABLE SALES MAP ..... 12 COMPARABLE SALES PHOTOS ..... 13-14 CORRELATION & VALUATION ..... 15 ADDENDUM

ADDENDUM RAMSEY COUNTY PROPERTY RECORDS APPRAISER'S QUALIFICATIONS