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.....Page 2 Continued...... to the preparation of a detailed appraisal report. The North 2nd Street ROW is described by the survey as a total of +-1.129 acres or 49,179 square feet of land area. This tract consists of a portion of the unopened North 2nd Street right of way which is 80' X 820.02'. The North 4th Street ROW is described by the survey as a total of +-1.129 acres or 49,179 square feet of land area. This tract consists of a portion of the unopened North 2nd Street right of way which is 80' X 820'. Both right of ways are located north of Barbour's Cut Blvd and east of State Highway 146 in north La Porte. The subject site is generally flat and level in terms of topography. It is not located in the 100 year flood plain. Adjacent property uses consist primarily of commercial and light industrial property uses. The adjacent and nearby properties are zoned for light industrial and business industrial use by the City of La Porte. The Highest and Best Use of the subject property is determined to be for use either for a street right of way, however it may have an alternative use by adjacent property owners due to its configuration. The client and intended user of this appraisal is the City of La Porte only. The intended use is to estimate the current market value of the subject property of this analysis as described above for use in establishing a market value for the subject property by the client. There has been no transfer of the subject property noted for the past 36 months per appraisal district records. The effective date of the appraisal is December 9, 2019 and last site inspection is December 16, 2019. The date of the report is December 17, 2019. The estimated exposure time is up to 24 months. Other sales of generally similar properties in the subject neighborhood were researched that had locations that range from primary to secondary type roadways. A unit value range of between $2.00 PSF to over $8.00 PSF was noted. After adjustments, it is my opinion the estimated unit value range for the subject property would be a unit value of $2.50 PSF before any additional discounting by the "City". Therefore the unit market value of the subject tract is estimated at $2.50 PSF which is based on 100% fee simple ownership with no discounting applied for use as a public right of way. Respectfully Submitted, Chris Chuoke, President R.C. CHUOKE & ASSOCIATES , INC.