1996 Letters Re:Battlegrounds Vista Subdivision with title report and appraisal

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SITE DATA The subject property consists of two unimproved residential lots Which back up to each other. The lots are slightly irregular I but generally rectangular in shape, containing approximately 9815 square feet of land. The terrain is level coastal plain, with the subject lying in Zone X of FEMA Flood Map #48201C0340 G, dated September 28, 1990. This unshaded Zone X indicates ,areas determined to be outside the 500-year floodplain. The subject site enjoys all public utilities, as well as police and fire protection and garbage collection. The subdivision is zoned R-l, a low density single family residential classification. Since there are no improvements on the lots, they are presently in 'compliance with the zoning ordinance of the City of LaPorte. There are no trees and no landscaping on the lots. . -, IMPROVEMENTS I i ' There are no improvements on the subject property. DEPRECIATION Since there is no locational obsolescence assigned to the property I and since there are no improvements on the property; depreciation is not relevant in this case. HIGHEST AND BEST USE ANALYSIS, The highest and best use .is that reasonable and probable use which supports the highest present value, as defined on the effective date of the appraisal. It is that use, from among reasonably probable and legal alternative uses, found to be physicallY possible, appropriately supported, financially feasible, and Which results in highest land value. The subject site . lends itself to single family residential use both because of its size and topography, its zoning, and the land uses of surrounding' sites. . It is concluded that the highest and best use of the site is single family residential use. -4- ..~..<:':~:..;