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R.C. Chuoke & Associates, Inc. <br />Appraisers & Consultants <br />P.O. Box 1447 <br />League City, Texas 77574 <br />June 2, 2005 <br />Mr. Steve Barr <br />City of La Porte <br />P.O. Box 1115 <br />La Porte, Texas 77572 <br />Office- 281-338-9633 <br />Fax- 281-338-9533 <br />RE: Market Value Research Report Study regarding estimated market values <br />of various tracts of land for the proposed park expansion study, City of La <br />Porte, Harris County, Texas. <br />Dear Steve: <br />In accordance with your request, I have researched comparable sales and <br />listings in the La Porte area for use in preparing a market value study on <br />values of unimproved tracts of land. As we had discussed earlier, the basic <br />size range anticipated for these future park sites between 5 to 15 acres with <br />locations off of the major roadways. <br />Per our agreement, the data and limited analysis is presented in a very brief <br />discussion/memo format and the report does deviate from the USPAP as <br />permitted upon agreement between client and appraiser. <br />The data and conclusions gathered by my investigation is from source.9 <br />believed reliable and true. In preparing this letter of opinion, a study of <br />comparable sales, listings and other related market data was performed. <br />It should clearly be understood that this letter report only constitutes only a <br />limited analysis and statement of the estimated value ranges for certain <br />general areas of a neighborhood and that does not presume to be the complete <br />analysis of a certain tract(s) nor a complete appraisal and is subject to the <br />preparation of a more formal study which can be ordered by the client at a <br />future date. <br />r�: <br />