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• <br />E. I. TARIN & CO. <br />REAL ESTATE APPRAISERS CONSULTANTS <br />613 - 7TH AVENUE NORTH ~P. O. BOX 2277 TEXAS CITY, TEXAS 77590 <br />TEL. i713~ 945-3384 332-1511 332-1744 486-5566 <br />March 29, 1982 <br />Mr. John E. Courville <br />Bayshore National Bank <br />722 South Broadway <br />La Porte, Texas 77571 <br />Re: Real Estate Appraisal and the Closing of <br />a portion of land in Blocks 7A and 7D, a <br />portion of North "G" Street, La Porte, <br />Harris County, Texas. <br />Dear Mr. Courville, <br />As you requested, we have inspected and appraised the above <br />mentioned properties. <br />• The objective of this appraisal is to appraise the property <br />for Market Value, 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 />(West Texas Hotel Company v. El Paso, et al 83 SW <br />2nd 772) <br />It is our opinion that the subject properties have a market <br />value, as of March 22, 1982, of: <br />S I X THOUSAiJD T1.J0 HUPJDRED N I PJETY DOLLARS <br />(55,290) <br /> <br />~_ <br />~f ,~ <br />