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BETTENDORF ROHRER KNOCHE WALL, INC. <br /> I <br /> Analysis Of Raw Acreage Comparable Sales - Continued <br /> I <br /> I Sale 2 is located on Old Crystal Bay Road about 1/2 mile north of Crystal Bay. The area <br /> features many upper bracket new single family homes on estate lots. The locational appeal is <br /> considered superior to that of the subject. A downward adjustment for locational appeal is <br /> Imade to Sale 2. <br /> I Sale 3 is located on Old Crystal Bay Road about 1/2 mile south of US Highway 12 in the <br /> northern part of Orono. This area has experienced recent construction of high quality homes <br /> and is within the Orono School District. The locational characteristics of this sale are <br /> Iconsidered to be superior to that of the subject. <br /> I Sale 4 is located in the extreme west-central part of Orono near the Minnetrista city limits. The <br /> location features a mixture of older and new housing. There are still large areas of vacant land <br /> in the neighborhood. The subject property is closer to Lake Minnetonka in a more developed <br /> Iarea. In our opinion, the subject has better locational appeal than Sale 4. <br /> I <br /> Utilities <br /> The subject property has no public water and sewer is not immediately available. None of the <br /> I comparable sales have either sanitary sewer or public water availability. The subject is <br /> effectively an unsewered site. The comparables and the subject raw acreage are on an equal <br /> basis with respect to utilities. <br /> I <br /> Topography <br /> IThe easterly area of the subject property, consisting of Lots 61 - 62, slopes significantly and will <br /> require above average development costs associated with site preparation and building design. <br /> ILot 92 also has a significant slope. Those comparable sales which have a level and more <br /> amenable topography for development are adjusted downward in comparison to the subject. <br /> I <br /> Downward adjustments for general topography are indicated for each of the comparable sales. <br /> Road Access <br /> I <br /> Each of the comparables has better public road access than the subject acreage. In order to <br /> I develop the subject site a roadway would have to be installed for 700' to reach the site. The <br /> comparables had improved roads adjacent to their sites. Significant downward adjustments are <br /> indicated to all comparables for superior public road access. <br /> I <br /> I46 <br />