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BETTENDORF ROHRER KNOCHE WALL,INC. <br /> Lot Sales Analysis - Continued <br /> ' <br /> Property Rights <br /> P Y 9 <br /> All sales reflect transfer of fee simple title and no adjustments for property rights appraised are <br /> indicated. <br /> Conditions Of Sale <br /> Each of the comparable sales except #2 reflects an arms length transaction and require no <br /> adjustment. Sale #2 sold following foreclosure and at a below market price in the opinion of the <br /> broker. An upward adjustment for conditions of sale is made to #2. <br /> Financing <br /> Sale 3 involved a contract for deed and a downward adjustment for favorable financing is <br /> indicated. No adjustments are required in the analysis of the other sales. <br /> Market Conditions <br /> Consideration has been given to a market conditions (time) adjustment between the date of <br /> ' each sale and the effective date of this report. The dates of sale vary from May 1993 to <br /> October 1995. A modest adjustment of about +3% per year has been made in the analysis to <br /> reflect improving market conditions. <br /> Locational Appeal <br /> Each of the comparable lots has been viewed and the locational characteristics noted. Sale 1 <br /> ' is located on Concordia Street which is improved with several good quality lakeshore homes. <br /> The locational appeal of Sale 1 is slightly better than that of the subject, in our opinion. Sale 2 <br /> does not have any significant locational difference as compared to the subject. The subject <br /> ' property has a slightly better locational appeal than Sale 3 which is located on a busier street <br /> with less privacy. <br /> ' Shape <br /> Lot 58 on the subject land has an elongated rectangular shape. Sale 1 has a more elongated <br /> configuration with a lot width of only 100'. An upward adjustment for shape is made to Sale 1. <br /> ' A downward adjustment is made to Sale 3 which has a more regular and less elongated <br /> configuration than the subject. <br /> ' 55 <br />