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• • <br />• <br />E. I. TARIN & CO. <br />REAL ESTATE APPRAISERS CONSULTANTS <br />613 - 7TH AVENUE NORTH lP. O. BOX 2277 TEXAS CITY, TEXAS 77590 <br />TEL. 1713 945 - 3384 332 - 1 511 332 - 1744 - 486 - 5566 <br />November 20, 1981 <br />Mr. John E. Courville <br />Chief Executive Officer <br />Bayshore National Bank <br />722 South Broadway <br />La Porte, Texas 77571 <br />Re: Real Estate Appraisal <br />The Closing of South Ninth Street Land <br />La Porte, Harris County, Texas <br />Dear Mr. Courville, <br />As you requested, we have inspected and appraised the <br />above mentioned property. <br />The objective of this appraisal is to estimate the market <br />value of the subject property, which is defined as: <br />"The amount of money that a person desiring to sell <br />but not bound to do so, could, within a reasonable <br />time, procure for such property from a person who <br />desires and is able to buy, but is not bound to <br />• purchase the property. <br />It is the amount that could be obtained at private <br />sale and not at a forced sale or auction sale." <br />(T,Test Texas Hotel Company v. El Paso, et al 83 SW <br />2nd 772) <br />It is our opinion that the subject property has a market <br />value; as of November 11, 1931, of: <br />TdINE TIiOUSAND DOLLI~RS <br />($9,000) <br />• <br />;!~~.,~? <br />~ j <br />::; <br />;~~~ ,. <br />E I. TARIN, M q I <br />~' <br />