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I <br />RECEIVED <br />MAY 2 1994 <br />OTYOFOnONO <br />April 27, 1994 <br />Hr. Wllllaa Bockaann <br />1130 Loma Linda Avenue <br />Orono, Minnesota 55364 <br />Dear Villlaa: <br />Per your request I have inspected and aa faailiar with the property <br />at 1130 Looa Linda Avenue, Orono, Minnesota (legally described as <br />Lots 11 and 12, Block Loma Linda, P.I.D. #0811723230012). My <br />inspection was aadc with the intention of providing you with my <br />opinion as to current market value of the home. This letter is not <br />a formal appraisal, but rather an expression of my opinion based on <br />my inspection and study of current market conditions that effect <br />the value of the property in question. <br />Based on ay research and 20 years experience as a realtor, it is <br />ay opinion the current market value is in a range of $134,000 to <br />1136,000. <br />It should be noted that %d.th the extensive baseaent flooding <br />caused by runoff from property to the west, the actual sale price <br />could be less, depending on the cost to repair and rectify the <br />flooding problea. <br />Enclosed please find 6 comparable sold properties ranging from 3/30/94 <br />to dates <br />Should you have any questions or if I may be of further assistance <br />please do not hesitate to call me. <br />Sincerely, <br />Stephen C. Erickson <br />G.R.I. <br />Marios** <br />A-1 Excelience <br />2477 Shadywood Road <br />Lake Minnatonka <br />Orono, Minnaaota 55331 <br />471-0722 <br />tacii om—hr ChMipd Mitf OperaM