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fYDORF'ROHRER'KNOCHE'FALL <br /> April 29, 1996 REAL• , . .ESTATE A P P RA IS E R S <br /> Mr. Ron Moorse <br /> City Administrator <br /> City of Orono <br /> P.O. Box 66 0o5 <br /> Crystal Bay, Minnesota 55323 <br /> RE: Fee proposal <br /> Vacant land <br /> Garden Lane & Wildhurst Trail <br /> Orono, Minnesota <br /> Dear Mr. Moorse: <br /> In response to your request, I am submitting a fee proposal for the appraisal of the captioned <br /> property. The property constitutes 11.24 acres, more or less, platted into eight lots within the <br /> Tonkaview Gardens subdivision. The purpose of the appraisal is to estimate the market value <br /> of the subject property under current market conditions. <br /> The fee owner of the property is Midway National Bank. This office prepared appraisals on the <br /> captioned property for Midway National Bank in November of 1992 and October of 1993. <br /> Midway National Bank has been contacted regarding this assignment. The bank has granted <br /> its release to allow me to perform this assignment for you recognizing that the function of the <br /> appraisal is to assist in obtaining a grant application, as part of the purchase. <br /> A full and complete appraisal report will be prepared documenting the data and analysis utilized <br /> in arriving at the value conclusion. The report will be prepared in conformity with the Code of <br /> Ethics and Standards of Professional Practice of the Appraisal Institute together with the <br /> Uniform Standards of Professional Appraisal Practice of the State of Minnesota. <br /> SPRUCE TREE CENTRE SUITE 3 1 4 <br /> 1 6 0 0 UNIVERSITY AVENUE <br /> SAINT PAUL MINNESOTA 5 5 1 0 4 <br /> 6 1 2 • 646 . 6 1 1 4 FAX 6 1 2 . 646 . 8086 <br />