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Client File # TX-HR-0026.00000 & TX-HR-0027.00000 AWS File/Project # TXP413
<br />Appraisal Report - Land
<br />Allen, Williford and Seale, Inc.
<br />Allen, Williford andSeale, Inc.
<br />Right of Way Valuations
<br />11999 Katy Freeway, Suite 400, Houston, Texas, 77079
<br />Phone (281) 493-4444 Fax (281) 493-6845 www.appraiser.com
<br />Form 100.06
<br />Appraiser (1): David R. Bethel, MAI Appraiser (2): Carlo S. Forni, MAI
<br />Appraiser (3): Zachry C. Kezar, MAI Appraiser (4): Aaron M. Romero
<br />Client: HSC Pipeline Partnership, LLC
<br />Contact:Alfred Bull
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<br />Address:1100 Louisiana Street, 14 Floor, Houston, Texas 77002
<br />SUBJECT PROPERTY IDENTIFICATION
<br />Owner of Record: City of La Porte
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<br />Location: Southeast corner of N C Street and N 23 Street
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<br />Address:2963 N 23 Street, 12201 N C Street
<br />City (or Nearest Town): La Porte County: Harris State: TX Zip: 77571
<br />Legal Description: That certain tract of land containing 26.45 acres, more or less, in Blocks 656, 657, 658, 674, 675, 676,
<br />677, 692, 693, 694, and 695 including the alleys and streets out of the T. W. Lee Subdivision, situated in the Richard Pearsall
<br />League, Abstract No. 625, Harris County, Texas
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<br />Present Use of Whole Property: Light Industrial/Vacant Land
<br />Use Reflected in Appraisal: Land Use Only Improvements have not been valued
<br />ASSIGNMENT PARAMETERS
<br />Intended User(s): This report is intended for use only by HSC Pipeline Partnership, LLC, its affiliates, representatives, and others
<br />involved with the acquisition of easements for right of way purposes associated with the project.
<br />Intended Use: This report is intended only for use in conjunction with the partial acquisition of the proposed HSC Pipeline Partnership,
<br />LLC pipeline easement.
<br />THIS REPORT IS NOT INTENDED BY THE APPRAISER FOR ANY OTHER USE OR BY ANY OTHER USER.
<br />Effective Date of Value: October 9, 2019
<br />Real Property Rights Appraised: Fee-Simple Estate Easement
<br />Definition of Property Rights Appraised:
<br />"Fee Simple Estate" is defined in The Dictionary of Real Estate Appraisal, Sixth Edition, 2015, page 90, by the Appraisal Institute, as:
<br />"Absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the
<br />governmental powers of taxation, eminent domain, police power, and escheat."
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<br />"Easement" is defined in The Dictionary of Real Estate Appraisal, Sixth Edition, 2015, page 71, by the Appraisal Institute, as:
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<br />In accordance with the real property appraisal reporting requirements as set forth by Standard Rule 2-2(a) of the
<br />Uniform Standards of Professional Appraisal Practice (USPAP), this is an Appraisal Report.
<br />RECONCILIATION AND CONCLUSIONS
<br />Final Reconciliation of the Methods and Approaches to Value:
<br />The before and after methodology was used to estimate the fair market value of and just compensation due for the partial acquisition
<br />that is the subject of this report. In our analysis, the sales comparison approach to value was the only applicable approach necessary
<br />for credible results in both the before and after scenarios.
<br />Opinion of Total Compensation as of: October 9, 2019 $65,147
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<br />Allen, Williford and Seale, Inc. Page 1
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