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<br />--,I <br /> <br />(713) 471~961 <br /> <br />PATRICIA STONE MUSTON <br />STATE CERTIFIED <br />GENeRAL REAL ESTATE APPRAISER <br />nc-1323632-G . <br /> <br />117 Garfield <br />La Porte, Texas n571 <br /> <br />, . March 2l, 1996 <br /> <br />Mr ~ John Joems, Assistant City Manager <br />City of LaPorte <br />P.O. Box 1115 <br />LaPorte, Texas 77572-1115 <br /> <br />,'Re:.. Lots 14 and 15, Block 1, Battleground <br />Vista SubdiVision, Harris County, Texas <br /> <br />Dear Mr. Joerns: <br /> <br />In accordance with your request" I have researched the real property <br />referenced above. The owner Of" the subject property' is -Mr. Henry F. <br />'-Peebles, Jr. The purpose- of this comprehensiVe appraisal' report is to' <br />,estimate market val:ue of -the subject property 'for a proposed' purchase by' <br />the City of LaPorte. Market value is defined as: <br /> <br />The most probable price Which a property should bring in a compe- <br />titive and open market 'under all conditions requisite to a fair <br />sale, 'the buyer and seller 'each acting prudently and k1i.owledgeably, <br />- and assuming the price is 'not affected by 'undue 'stimulus.- - Implicit <br />in this definition is the cOnsummation of a-sale as of a specified <br />date and passing of title from seller to buyer under 'conditions <br />whereby: <br /> <br />1. Buyer and seller are typically motivated <br />2. Both parties are well informed or well advised, and, acting <br />in what they conS-ider' their own best interests- <br />3. A reasonable time is -allowed for exposure in the, open market <br />4. Payment is made iri -terms of cash in u.s. Dollars or in terms <br />of financial arr~ngements comparable thereto ' <br />5. The price repreeents the no~l consideration for the property <br />sold unaffected by special or creative financing or sales <br />'concessions granted})y-a~yone associated with the sale <br /> <br />The appraiser assumes no responsibility for, matters of.a legal nature, <br />and bases this report on fee . simple title with no existing liens or <br />easements remaining which- would affect title. A thorough analysis of <br />the property has ~~ ,conducted. All relevant data has been <br />investigated, and information has been obtained from sources considered <br />reliable. <br /> <br />-1- <br /> <br />.... _" : IF a <br /> <br />. :... < <br />~~:~~1i~4~~~;':~. ..;" <br /> <br />. > :.;:7i~(~: . <br /> <br />,:,'~:~~~:~1-:':,( <br />