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2004-06-24 Wehrli propertyL ESTATE L Ise STAT BUYER'S SETTLEMENT SHEET June 24, 2004 Name of Buyer City of Blair, Nebraska Address 218 S. 16th Street, Blair, NE 68008 Property The W 60' of Tax Lot 200, Section 12 Township 18 North, Range 1.1 East of the 6 th P.M., City of Blair, Washington County, Nebraska.... Debit Credit Purchaseprice --------------------------------------------------------------------------------- Earnest money paid with signing of .purchase agreement----------- - - - - -- Additional payment mode prior to date of this statement --------- -- - - -- To.reimburse broker for earnest money advanced ...... ---------------------- Old mortgage assumed---- - - - - -- ---------------------------------------------------------- Newmortgage - - - - -- ---- ----------- - - - - -- ------------ - - - -_- ------------------------------- Contract with seller---------------------------- - - - - -- ........ - ------------------------------- --------------------------------------------------------------------------------------------------------------------- L.oan dosing costs--------- - - - - -- ---------------------------------------- - - - - -- --- - - - - =- --------------- Pro -rated insurance, or new insurance premium----------- -- ----- ------------ -- ---- - ----- Pro -rated real estate 'taxes— general------------------------------------------------------ - - - - -- Pro -rated real estate taxes — special------------------------------------------------------ - - - --- Pro -rated rent ---------------------------------------------------------------------------------------------- Replacement, or new escrow fund deposited with mortgage holder ------- _____ Interest adjustrnent ---------------------------------- - - - - -- ------------------------------------------- TaxAdjustment ------------------------------------------------------- ------ ---- --------------- - - - - -° Recordingfees ----------------------------------------------- _-- ------ - - - - -- - --- - 2 Ti tle Insurance - reimbursement ------------------------------------------------------------------------------------------ Appraisai Fee $ 35;640.00 $ 16.50 11 -------------------------------------------------------------------------- Attorney's fee ------------------------------------------------------------------------ - - - - -- - - - - -- Crediit report ----------------------------------------------------- - - - - -- -------------------- 2 Escrow Closing Fee to Johnson R Mork Credit balance sel ler--------------------------------------------------------------------------- - - - - -- 35,728.50 TOTALS $ 35,.806 -.50 $ 35,80 Remarks Duplicate, original received, read and approved. City of Blair, Nebraska JOHNSON & . / Buyer By: A By f� t Buyer" � oi- s- (auyer's) 1 1 e K. JOhnSq�p�„t�y� Wolf, Walton, Pie. 68461 150.00 City State Zip Code City State Zip Code Telephone Number Telephone Number 7 PROPERTY CLASSIFICATION NUMBER. Check one box in categories A and B. Check C also if property is mobile horse. (A) Status (B) Property Type I (C) is was sale DeLween reiauves( tIL Yes, cnecK appropriate oox) ❑ YES ❑ NO ❑ Spouse ❑ Parents and Child ❑ Family Corporation or Partnership ❑ Grandparents and Grandchild ❑ Brothers and Sisters ❑ Aunt or Uncle to Niece or Nephew ❑ Other. 141f the real estate was transferred for nominal consideration, what is the current market 15 Was mortgage assumed? If Yes, state amount and interest rate. value? ❑ YES ❑ NO $ % 16 Does this conveyance divide a current parcel of land? 17 Was sale through a real estate agent? (if Yes, name of agent) ❑ YES ❑ NO DYES ❑ NO 16 Address of Property 19 Name and Address of Person to Whom Tax Statement Should be Sent 20 Legal Description 21 If agricultural, list total number of acres 22 Total purchase price, including any liabilities assumed .............. ............................... 22 $ 23 Was nonreal properly included in purchase? ❑ YES ❑ NO (if Yes, enter amount and attach itemized list) .. 23 $ 24 Adjusted purchase price paid for real estate (line 22 minus line 23) . ..... ............................... 24 $ Under penalties of law, ; I declare that I have examined this statement and that it is, to the best of my knowledge and belief, true and correct, and that I am duly authorized to sign this statement.' 25 ® :. ig n ® Print or Type Name of Grantee or Authorized Representative Telephone Number here F' Signature of Grantee or Authorized Representative Title Date REGISTER OF DEEDS' USE ONLY FOR NDR USE ONL 26 Date Deed Recorded Mo. Day Yr. 27 Value of Stamp or Exempt Number 28 Deed Book 29 Deed Page 30 Nebraska Department of Property Assessment & Taxation Authorized by Sections 76 -214, 77 -1327, R.R.S. 1943 Form No. 2- 146 -67 Rev. 12 -00 Supersedes 2- 146 -67 Rev. 9 -94 NEBRASKA DEPARTMENT OF REVENUE — White Copy COUNTY ASSESSOR — Canary and Pink Copies GRANTEE —Goldenrod Copy printed with soy ink on recycled paper A tract of land as measured from the West line of the Southwest Quarter of the Southeast Quarter (SW1 /4 SE1 /4), of Section 12, Township 18 North, Range 11 East of the 6th P.M., City of Blair, Washington County, Nebraska, described as follows: the West 60 feet of the Northeasterly Half of the railroad right of way as it existed on March 1, 1980, which is immediately adjacent to Tax Lot 200 in said Section 12, Township 18 North_, Range 11 East of the 6th P.M., City of Blair, Washington County, Nebraska. TO BE FILED Real to Transfer Statement FORM instructions WITH FEGISTEP Read on OF DEEDS 521 1 County Name 2 County Number 3 Date of Sale Mo. Day Yr. 4 Date of Deed Mo. Day Yr. S Grantor's Name, Address, and Telephone (Please Print) 6 Grantee's Name, Address, and Telephone (Please Print) Grantor's Name (Seller) Grantee's Name (Buyer) Street or Other Mailing Address Street or Other Mailing Address City State Zip Code City State Zip Code Telephone Number Telephone Number 7 PROPERTY CLASSIFICATION NUMBER. Check one box in categories A and R. Check C also if property is mobile home. (A) Status (B) Property Type (C) IS Was sale between relatives? (If Yes, check appropriate box) ❑ YES ❑ NO ❑ Spouse ❑ Parents and Child ❑ Family Corporation or Partnership ❑ Grandparents and Grandchild ❑ Brothers and Sisters ❑ Aunt or uncle to Niece or Nephew ❑ Other 141f the real estate was transferred for nominal consideration, what is the current market 15 Was mortgage assumed? If Yes, state amount and interest rate. value? ❑ YES ❑ NO o /o 16 Does this conveyance divide a current parcel of land? 17 Was sale through a real estate agent? (if Yes, name of agent) ❑ YES NO ❑YES NO 18 Address of Property 19 Name and Address of Person to Whom Tax Statement Should be Sent 20 Legal Description 21 If agricultural, list total number of acres 22 Total purchase price, including any liabilities assumed .............. ............................... 22 $ 23 Was nonreal property included in purchase? ❑ YES ❑ NO (if Yes, enter amount and attach itemized list) .. 23 24 Adjusted purchase price paid for real estate (line 22 minus line 23) .... ............................... 24 $ Under penalties of law, I declare that I have examined this statement and that it is, to the best of my knowledge and belief, true and correct, and that I am duly authorized to sign this statement. 25 ig n ® Print or Type Name of Grantee or Authorized Representative Telephone Number he re Signature of Grantee or Authori zed Representative Title Date REGISTER OF DEEDS' USE ONLY FOR NDR U O NL 26 Date Deed Recorded 27 Value of Stamp or Exempt Number 28 Deed Book 29 Deed Page 30 Mo. Day Yr. Nebraska Department of Property Assessment &Taxation Authorized by Sections 76 -214, 77 -1327, R.R.S. 1943 Form No. 2- 146 -67 Rev. 12 -00 Supersedes 2- 146 -67 Rev. 9 -94 NEBRASKA DEPARTMENT OF REVENUE — White Copy COUNTY ASSESSOR — Canary and Pink Copies GRANTEE —Goldenrod Copy printed with soy ink on recycled paper ,sBni by: JUHNSUN AN MUUK; I904 Sou& Ski. SUkg 101 P.O. 33$ Vila l{ J 131 T� ClArm =FS. Mod* Te�igphmm (40a) d1sA626 ) 47& Mdxs4 ], T 1 Xc (402) 426.8630 � 1w • AdaRU r S V14 TELECOPY CO hSBF2T TO: Meli Naner Telephone No.: (4021 426 - 06 8 5 Client No./Matter: omom, From: Nile K ..lolumn JOHNSON & MOCK 1904 South Street, P.O. Box 532 Blair,, NE 69008' (402) 426 -9626 Melissa: Here is ;'-a copy of the correspondence that we received from Homecomings and Nile delivered the packet to Geoff Hall, probably the first part of this month. Any questions, please give me call, TRANSMITTAL TNSTRUCnONS: No. of pagos, including covershoct: — Transmissio 2/ 19/04 Transmission Time: Operator: IFALL P,4GESARE XOT RECEIVED, PLEASE CALL (4p 426.9626 DZWFDMTELY. TfL .4)vK you. Sent Sy: JOHNSON AND MOCK; 402 42t gbW; F-eD -19-U4 2:nUVM; rage 0/0 ,.,,,y oF B LAIR ATTORNEY GEOFM C. HAU 16.64 WAah ASC St- • p,oC oox 216. q1air, Nc lxaoka 68008 Te . (407,) 426 -4424 ` Paoirrdle: (402) 426 -4666 T o c. as , f .. i dent i fied estate qW it d"res t Q, bj o ln pursuard to the 10P Vm011 Extension, plan. The real estate. is, re presen t I 0 � - The City 3ecks to *bWn oWy the West 60 Felm of sold real estate. if ft City is able to obta the mal emato by an agreed upon 11jile in omor to complole the transfer In this budget yew. K!1=j— ren - ,a -u4 e:airmy ra'dc -1w 81030856 us 1904 SOWN &XIMA, &UiW 101 P.4 Sox S32 Nil ® 1C. wain, H e 68w1$ CleaRCmI3 M�k Tot Oft (4M 4215--9(06 (06 Akichwa J. T ad Pex (402) 4ZbAd30 u &. Fina Adam l Stela Manhaw K hfnadaiot January 21 2 004 Homecomings Financial Attn: Paul Ruckel 2711 N. Haskell - Ave., Mute 900 Dallas, TIC 75204 - Re: Request for Partial Deed of Rkeconveyance Mortgagor: Kevin R. Wehrli, SS #506 -08 -8426 ,Loam No.: 0418291480 Property address: 925 CnInt Street, Blair, NE 68008 Dear Sir: I aryl writing this letter as the closing agent on a transaction from your mortgagor, Kevin R. Wehrli ta'the City of Blair, Nebraska, and am requesting a Partial, Deed of Reconveyance from your company. Plamant to the insVuction,s given to my s ecretary b Kelli over the phone i enclose a letter from the atttorney concerning the eminent domain issue and a copy of the purchase agreement for your information. It is my understanding that with these two items a Partial Deed of Reconveyance can be obtained from your company. I also enclose a Partial Deed of Reconveyance for your use. If there are any NKJ/lw Encl. s7 {,+i11. D�7. JViilV.7U1V HIYL IYiVUI�} H oinecomings Financial A GMAC Company Easement Application Checklist Re: Loan Number 0418291480 Page 2 of 2 Please sign and then mail this checklist, requested documentation, and the application fee to Homecomings k1hancial, Atta.: Paul Ruckel, Escrow Management Department. 2711 North Haskell Avenue, Suite 900, Dallas, TX 75204. Once we receive all necessary documentation and fees, we will review your easement request. The review process can take up to eight weeks. Once we have made a decision regarding your easement application, we will provide you written notification of our determination. Borrower borrower Date Date Homecomings Financial 2711 North Haskell Avenue Suite 900 Dallas, 7X 75204 $00.206.2901 homecomings.mm Sent By: JoHNSaN RNLI MUUK j HOMOCO'Mings Fina=ial A GAUC Company EAR NT MPLICATIQN CHECgCLiST Ire: Loan Number 0418291450 All items listed below arc required if you want to obtain the casement. Please use this letter as an index and check off each item as you get it. Only after all items have been f tained sholdd ou sin and return all a doe a fee and t checklist ' the Eser w t De a east (addresseiven below). Eafte to ollow instruction will result in delays with grocessing the Mqucst or a return of your package. If the easement is'being requested by A municipality or ether governmental agency, we will accept a copy of the appraisal they obtained. However, if the transaction is occurring between two private iridividuals, Homecomings Financial must order an independent appraisal, the fee for which varies between $260 and $600, depending upon property type and location, and must be paid for by you. We will not know the actual cost of the appraisal until the property is appraised. 2. A new, current spotted plat or survey, which is signed and dated by the surveyor and identified by the surveyor's license number. The spotted plat or survey must outline -the original legal description and the eaYcmcr►t. It must also clearly outline the location of the house, improvements on the property' (if any) and the location of the right of access to the property (e.g. driveway). in order to obtain a tWw spotted plat or survey, please contact the surveyor of your choice. 3. A nonrefundable processing fee of $300. This fee covers IIonaecomings' costs to pros css your easement application. A check for $300, trade payable to Homecomings financial must be included and returned with this checklist, 4. An l asoment/Right -o Way or Subordination of Li" instmuient prepamd by a title company or real estate attorney of your choice. The Easement/Right of Way or, Subordinsation of Lien document includes the recording information of the original Deed of TrustfMortgage and the legal description of the easement_. A title company or real estate attorney can prepare this document for you. In order for the easement application to be processed, the above -referenced loan must be current in payment. If at any time this loan becomes more than 30 days delinquent in payment, your easement application , will be closed. You must pay all costs involved with this request for an easement. You should expect to incur fees including, but not limited to, the recording of documents, title company fees, and appraisal and survey costs. After the easement agreement is completed, it is your responsibility, to notify your taxing authorities and/or your insurance carriers of any changes in liability, Homecomings Financial 2711 North Haskell Avenue Suite 900 DA1145, TX 75204 800.206,2901 bomecomings.wm sent BY: JUHNSUN ANU MUCK; 4UG 4ZU J6Juj Homecomings Pin ci 1 AG&2ACCompany January 26, 2004 KI Vin Wehrli 925 t vrant St Blair, NE 68008 Re: Loan Number 0418291480 Property Address 925 Grant St Blair, NE 68048 Dear Kevin Wehrli- reu -1y - U4 a ;O1rMi raytp c Thank you for contacting Homecomings Financial"' regarding an easement that affects the above - referenced property. An easement gives one party the right -to the limited rise or enjoyment of land that is held by another panty, An easement is usually needed by your utility company or the department of transportation to enable them to lay sewer or other utility lines or to allow ethers access to the property. Enclosed Please find a checklist that details the documents and fees necessary to complete: an easement application. Please contact our Customer Service Department at 1.800.206.2901 if you have any questions regarding this process. Paul Ruck Account Manager Enclosure PS. We also invite you access your current account information via the Internet at www,horxmecew1ngs.evvA. Homecomings Financial 2711 Notth•Haskell Avenue Suite Sop Dallas, Tx 75204 806,206.2901 • homecomings.com ORDINANCE NO. 1990 AN ORDINANCE APPROVING THE PURCHASE OF THE RELEVANT PORTIONS OF TAX LOT 200, IN THE CITY OF BLAIR, WASHINGTON COUNTY, NEBRASKA FROM KEVIN WEHRLI, A SINGLE PERSON FOR THE SUM OF $35,640.00 AND OTHER VALUABLE CONSIDERATION; REPEALING ALL ORDINANCES OR PARTS OF ORDINANCES IN CONFLICT HEREWITH AND PROVIDING WHEN THIS ORDINANCE SHALL BE IN FULL FORCE AND EFFECT. SECTION 1. That the Mayor is hereby authorized to execute and deliver a Purchase Agreement, a copy of which is attached hereto, marked Exhibit "A" and incorporated by this reference herein which sets forth the terms and provisions of the purchase of the real estate from Kevin Wehrli. SECTION 2. All ordinances or parts of ordinances in conflict herewith are hereby repealed. SECTION 3. This ordinance shall be in full force and effect from and following the passage and publication hereof as required by law. Passed and approved this 9th day of December, 2003. CITY OF BLAIR, NEBRASKA By JAM . REALPH, MAYOR ATTEST: &,/ W k ENDA R. TAYLOR, City Clerk (SEAL) STATE OF NEBRASKA ) ) :ss: WASHINGTON COUNTY ) BRENDA R. TAYLOR hereby certifies that she is the duly appointed, qualified, acting Clerk of the City of Blair, Nebraska, and that the above and foregoing Ordinance was duly passed and approved at a regular meeting of the Mayor and City Council of the City of Blair, Nebraska, held on the 9th day of December, 2003. �/ - A�f - � C ( k ) BRE A R. TAYLOR, OfY CLERK. PURCHASE AGREEMENT— Real Estate December 15, 2003 This Purchase Agreement made and entered into by and between Kevin Wehrli, a single person hereinafter referred to as "Seller ", and the City of Blair, Nebraska, hereinafter referred to as "Buyer ". Now, therefore, in consideration of the mutual covenants contained herein and for other good and valuable consideration, the parties hereby agree as follows: 1. Sale. The Seller hereby agrees to sell, and the Buyer hereby agrees to purchase, at the price and on the terms hereinafter set forth, the following described property, including but limited to all fixtures, improvements, structures, buildings, etc., located thereon and legally described as follows: (a) Legal Description of Real Estate. The W 60' of Tax Lot 200, Section 12, Township 18, Range 11 East of the 6 P.M., in the City of Blair, Washington County, Nebraska; and a tract of land as measured from the West line of the SW1/4 SEl /4 of Section 12, Township 18 North, Range 11 East of the 6 th P.M., in the City of Blair, Washington County, Nebraska, described as follows: the West 60 feet of the Northeasterly Half of the railroad right of way as it existed on March 1, 1980, immediately adjacent to Tax Lot 200 in said Section 12, Township 18 North, range 11 East of the 6 th P.M., in the City of Blair, Washington County, Nebraska. 2. Purchase Price and Terms of Payment The purchase price paid to Seller for the aforesaid real estate and personal property being purchased by the Buyer is Thirty -Five Thousand Six Hundred Forty Dollars and No /100's ($35,640.00) cash. In addition to the purchase price the Buyer agrees to plant up to 40 4'ft tall pine trees on Sellers remaining property. 3. Closing Date The closing date for the transaction shall be on or before January 7, 2004. Closing shall occur at the office of Johnson & Mock, 1909 South Street, Blair, NE 68008. The cost of escrow agent closing fee shall be equally divided between Buyer and Seller. 4. Title Insurance Title insurance shall be used in the conveyance in lieu of an abstract of title. Seller shall provide Buyer with a commitment for title insurance, showing good and marketable title in Seller, and the policy of title insurance shall be issued by said title insurance company on its standard form, with such printed exceptions as appear on the form and any further exceptions and encumbrances as are acceptable to Buyer. Written notice of any such defects, including any easements, restrictions or other matters affecting title to the property contained in the updated commitment that is unacceptable to Buyer or its counsel shall be delivered to Sellers within Fourteen (14) days of receipt of the commitment of title insurance. Seller has no obligation to cure any defects. If Seller is unable or unwilling to cure such defects to the reasonable satisfaction of Buyer within a reasonable time thereafter, and if said defects are not so cured within a reasonable amount of time, then either party may terminate this Agreement. Seller and Buyer agree to equally divide the total cost of the title insurance premium. 5. Warranty Deed Upon payment by the Buyer to Seller of the purchase price of the real estate purchased, Seller shall cause to be conveyed to Buyer conveying marketable fee simple title in and to said real estate described hereinabove, by proper Warranty Deed, subject to the following: (a) - General Real Estate Taxes Real estate taxes due and payable as provided in Paragraph 6 of this Purchase Agreement. 6. General Real Estate Taxes. Real estate taxes for 2003 and all prior years shall be paid by Seller. Real estate taxes for 2004 shall be prorated to the date of possession. (Basis for the proration shall be the most recent real estate tax statement.) The Buyers shall pay all general real estate taxes from the closing date, and all subsequent taxes. The Seller shall pay all real estate taxes, if any, owing for prior calendar years. 7. Possession Seller shall have exclusive possession of the property until the date of closing. Any risk of loss to the property shall be borne by Seller until possession has been turned over to Buyer. Buyer shall assume all risk of loss from and after the date of closing 8. Specific Performance It is understood and agreed that both parties retain their right to bring action for a specific performance of the terms of this Agreement in the event the other party is in default in carrying out their obligations under this Agreement. 9. Time is of the Essence Time shall be of the essence in this Agreement for all times (dates) specified hereinabove both before and after the closing date. 10. Conveyance of Title It is understood and agreed that this Agreement shall in no manner be construed to convey title to said property or to give any right to take possession thereof. 11. Hazardous Material: No hazardous or toxic material, substance, pollutant, contaminant, waste, asbestos, or petroleum product has been released into the environment, discharged, placed or disposed of at, near, on or under the surface of the Property. The Property has not been used at any time by any person as a landfill or waste disposal site. There are no underground tanks or other storage units which have or have had any hazardous or toxic material, substance, pollutant, contaminant, waste, asbestos, or petroleum products stored therein. No claims, litigation, or administrative proceedings are pending or threatened, and no judgments or orders have been entered relating to any hazardous substance, hazardous waste, discharge, emission or other form of pollution relating in any wary to the Property. No hazardous substance or hazardous waste, as defined by the Resource Conservation Recovery Act, as amended, 42 U.S.C, §§ 6901 et seq., or the Comprehensive Environmental Response, Compensation and Liability Act, as amended, 42 U.S.C, §§ 9601 et seq., has been generated, manufactured, refined, transported, treated, stored, handled or disposed of on, at, under or near the Property. 12. Other Terms of Agreement (a) Seller shall pay all documentary stamps as a result of the sale, if any (b) Buyer agrees to pay for the cost of the Purchase Agreement (c) Buyer and Seller shall split equally the costs associated with the closing agent. (d) This Agreement contains the entire understanding among the parties and supercedes any prior understanding among the parties and agreements between them respecting the within subject matter. There are no representations, agreements, arrangements or understandings oral or written between or among the parties hereto relating to the subject matter of this agreement which are not fully expressed herein. B y d�`'� Kevin Wehrli, a single person, SELLER ATTEST: STATE OF NEBRASKA ) COUNTY OF WASHINGTON ) The foregoing instrument was acknowledged before me on _/J� (f 003, by Kevt" l.Wc9, GENERAL NOTARY-State of Nebraska ROSE MARIE BRUMMER My Comm. Exp. Dec. 25.2004 Public CITY OF BLAIR, NEBRASKA, Buyer B " Y -- ,,` J PH, Mayor ATTEST: City Clerk STATE OF NEBRASKA ) ) :ss: COUNTY OF WASHINGTON ) The foregoina instrument was by before me on �� f� , 2003, P'� x RAL =FRAHM P y Comm. 3 1904 'South Street P.O. Box•, 532 Blair, Nebraska 68008 Telephone (402) 426 -9626 Fax (402) 426 -9630 STATEMENT December 30, 2003 Geoffrey C. Hall HALL LAW OFFICES 1664 Washington Street P.O. Box 216 Blair, NE 68008 Re: Commitment for Title Insurance J -01993 Owners Policy: City of Blair, Nebraska Loan Policy: Not Submitted Legal Description. The W 60' ofi Tax Lot 200, Section 12, Township 18 North, Range 11 East of the 6th P.M., in the City of Blair, Washington County, Nebraska; and a tract of land as measured from the West line of the SWl /4 SE 1/4 of Section. 12, Township 18 North, Range 11 East of the 6th P.M., in the City of Blair, Washington. County, Nebraska, described as follows: the West 60 feet of the Northeasterly Half of the railroad right of way as it existed on March 1, 1980, immediately adjacent to Tax Lot 200 in said Section 12, Township 18 North, Range 1 lEast of the 6th P.M., in the City of Blair, Washington. County, Nebraska Owners Title Insurance Premium. $156.00 Total Amount Due ................... ............................... $156.00 HAU LAW Off ICES, P.C., ..O Counselor and Attorney at Law GEOFFMY C. HALL 1664 Washington St - P.Q. Box 216 236 South 13' Street Blair, Nebraska 68008 Tekamah, Nebraska 68061 Telephone: (402) 426 -4424 Telephone: (402) 374 -2100 Facsimile: (402) 426 -4666 Facsimile: (402) 426 -4666 TO: FAQ5MLE FAX N& t n - q ( (�- FROM FAX NO. (402) 426 -4666 NO, OF PA GES: _ .. _ (including cover sheet) DATE 1 - o (-A.- IF ALL PAGI=S ARE NOT RECEIVED, PLF-ASE CALL (402) 496 - 4424 C0f4MENT5 The infor mation contained in this fac simi l e message is Attomaeg privile a confidential information intended on for th use of the individual or entitia nam ed alcove. If your a re not the intended recipient, or the emp or agent responsi to deliver it to the Intended recipient, you aye hereby notifie that any dissemination, d istribution or copying of this communication is strictly prohibited. 11 you received this communication in error, please Immediately noti us bra telephone and return th original message to us at the above a ddress vi the US, Postal Service. a] Geoffrey C. Mall HALL LAW OFFICES 1664 Washington Street P.O. Box 216 Blair, NE 65008 Re: Commitment for Title Insurance J -01993 Owners Policy: City of Blair, Nebraska Loan Policy: Not Submitted Legal Description: The W 60' of Tax Lot 200, Section 12, Township l8 North, Range 11 Bast of the 6th P.M., in the City of Blair, Washington County, Nebraska; and a tract of land as measured from the West line of the SW1 /4 SE1 /4 of Section 12, Township 18 North, Range 11 East of the 6th P.M., in the City of Blair, Washington County, Nebraska, described as follows: the West 60 feet of the Northeasterly Half of the railroad right of way as it existed on March. 1, 1980, immediately adjacent to Tax Lot 200 in said Section 12, Township 18 North, Range l 1 East of the 6th P,M., in the City of Blair, Washington County, Nebraska Dear Geoff Enclosed, please find the commitment for title insurance on the above referenced property that you requested. If there is anything forth( Ver, A 711 i le NKJAw Encl. AGENT rOlt 90 TICOR TITLE Issued Sy: Johnson & Mock 1904 South Street, Suite 101 RO. Box 632 Blair Nebmakm 68008 (402f 426 -aW6 American Land TICOR TITLE INSURANCE COMPANY, a California corporation, herein called the Company, Title Association for a valuable consideration, hereby commits to issue its policy or policies of title insurance, Commitment -1+966 as identified In Schedule A, in favor of the proposed insured named in Schedule A, as owner (Modified for Nebraska) or mortgagee of the estate or interest covered hereby in the land described or referred to in Schedule A, upon payment of the premiums and charges therefor; all subject to the provisions of Schedules A and B and to the Conditions and Stipulations hereof. This Commitment shall be effective only when the identity of the proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A hereof by the Company, either at the time of the issuance of this Commitment or by subsequent endorsement. This Commitment is preliminary to the issuance of such policy or policies of title insurance and all liability and obligations hereunder shall cease and terminate 6 months after the effective date hereof or when the policy or policies committed for shall issue, whichever first occurs provided that the failure to issue such policy or policies is not the fault of the Company. This Commitment shall not be valid or binding until countersigned below by an authorized signatory of the Company, The Nebraska Revised Statutes require that the following statement be incorporated in this commitment Please read the exceptions and the terms shown or referred to herein carefully. The exceptions are meant to provide you with notice of matters which are not covered under the terms of the Title Insurance Policy and should ",carefully considered. It is important to note that this form Is a Guarantee of Title and not a written representation as to the condition of title and may not fist all Ilene, defects, and encumbrances affecting title to the land. TICORTITLE INSURANCE COMPANY By: 71� ! �'r y Pro®itlenk ATTEST ^. twm•araa y�'Y} A $iGlftiYy Form C 8915 -01 (Reprinted 10100) ALTA Cummitrneat - 1966 For Use In Nebraska Stipulations 1. The term "mortgage," when used herein, shall Include deed of trust, trust deed, or other security instrument, 2. If the proposed Insured has or acquires actual knowledge of any defect, lien, encumbrance, adverse claim or other matter affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and shall fall to disclose such knowledge to the Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company Is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or If the Company otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve the Company from liability previously Incurred pursuant'to paragraph 3 of these Conditions and Stipulations. 3. Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties Included under the definition of Insured In the form of policy or policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. In no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions, the Exclusion from Coverage and the Conditions and' Stipulations of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein. 4• Any action or actions or rights of action that the proposed Insured may have or may bring against the Company arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment must be based on and are subject to the provisions of this Commitment. t I :`r it �! >S 1 PwuoeAxuium $156.00 L tud ktemium SI36.00 I . Effective Date: December 30, 2003 2. Policy or Policies to be issued: A. ALTA Owner's Policy Proposed Insured: City of Blair, Nebraska 13, ALTA Loan Policy Proposed Insured: C. Not Submitted Case No.,-,,_ Amount $ 35,640,00_ Amount $ N/S Amount $ N/S 3, The estate or interest in the land described or referred to in this Conunitment and covered herein is a fee simple, and title thereto is at the effective date hereof vested in: Tract I: :Kevin JL Wehrk a single person Tract II: Taryl L. Wolgan 4. The land referred to in the Commitment is described as follows: SEE ATTACHED "EXHIBIT A" FOR LEGAL DESCRII"TION SCBET)ULE A Commitment "EXHIBIT A" LEGAL DESCRIPTION Tract I: The West 60 feet of Tax Lot 200, Southwest Quarter of the Southeast Quarter in Section Twelve (12), Township Eighteen (18) North, Range Eleven (11) East of the 6th P.M., in the City of Blair, Washington County, Nebraska; and Tract Il: A tract of land as measured from the West lime of the Southwest Quarter of the Southeast Quarter (SW 1/4 SE1 /4), of Section 12, Township 18 North, Range I I East of the 6th P.M., City of Flair, Wa."gtotx. County, Nebraska, described as follows: the West 60 feet of the Northeasterly Half of the railroad right of way as it e;4isted on March. 1, 1980, which is immediately adjacent to Tax Lot 200 in said Section I2, Township 18 North, Range I I East of the 6th P.M., City of Blair, Washington County, Nebraska. This Commitment valid only if Schedule B is attacbed. COMMITMENT SCHEDULE Case No., J-01993 The following are tite requirements to be complied with: upon payment of the full consideration to, or for the account of, the grantors or mortgagors, and recording of the deeds and/or mortgages, the form and execution of which is satisfactory to the Company, the policy or policies will be issued containing exceptions in Schedule 13 thereof to the following matters (unless the same are disposed of to the satisfaction of the Company), 1, if an owner's policy is to be issued, the mortgage encumbrance, if any, created as a part of the purchase transaction. 2, Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed Insured acquires for value of record, the estate or interest or mortgage thereon covered by this commitment, 3. Rights or claims of parties in Possession not shown by the public records. 4. Encroachments, overlaps, boundary line disputes, and any other matters which would be disclosed by an accurate survey and inspection of the premises, 5. Easements or claisus of easements not shown by the public records. 6. Any lien, or right to a lien, for services, labor or material bereto(bre or hereafter furnished, imposed by law and not shown by the public records. 7, 'faxes or special assessments which are not shown as existing liens by the public records, 8. General and special taxes and assessments as hereafter listed, if any (all amounts shown being exclusive of interest, penalties and costs): 9. Parcel ID #; 890039914. (Tax Lot 200) Real estate taxes for 2002 are shown paid, Real estate taxes for 2003 are due in the amount of $2,926,22, heal estate taxes for the year 2004 and all subsequent taxes are excepted. Parcel ID #890040075, (Railroad ROW) heal estate taxes for 2002 are shown paid. Real estate taxes for 2003 are due in the amount of $8.66. Real estate taxes for 2004 and all subsequent taxes are excepted. 10. An Easement .Agreement dated September 13, 1990, for a perpetual easement for retention and for the continued use and maintenance of the driveway, recorded in Book 189 at Pages 502.503 on December 5, 1990. 11. ,A Deed of Trust in favor of Homecoming Financial Netwo&, Inc., Trustee and Michael Kivett, Beneficary, of a Deed of Trust executed by Kevin R, Wehrli, Trustor, in the amount of $216,800.00, recorded in Book 464 at Page 16 on November 12, 2003. 12. Subject to Child Support payments of $295,00 per raonth, as ordered to be paid in the case of State of Nebraska, ex real, Tracey A, Carsonn, on behalf of Tyler James Carson v. Kevin Wehrli, Case No, CI 96 9000528, fWa Case #1 l05, in the District Court of Washington County, Nebraska, CONT D ON ,PAGE 2 OF SCHEDULE 13, 5CF•IEDULE 13 (Requirements) ,ALFA Conunitntent CONMTTN ENT Case No.; J -0 2 Page 2 6T i 'Il l� � 1 � 1►l lh 1 13. Notice of Land Contract between Taryl A. Wolgart, a single person, Seller and Kevin K. Wehrli, a single person,, Buyer, dated September S, 2002, filed in Boole 373 at Page 276 on September 6, 2002, ('Tract ll) REQUIREMENTS FOR FLING a) A Quitelaun Deed from Taiyl L. Wolgan, a single person to Kevin R Webxli,, a single person, of Tract 11, b) A Warranty Deed from Kevin R Wehrli, a single person to the City of Blair, Nebraska.. (Tracts 1) c) A Qtdtclaim Deed from Kevin R WebA, a single person to the City of Blair, Nebraska. (Tract 11) d) Release of child support judgment against the real estate herein. e) A .Partial Deed of Reconveyance from Homecomings Financial Network, Inc., Bu eficiary and Michael Kivett, Trustee, of the Deed of Trust recorded in Book. 424 at Pages 162 - 176, on November 12, 2003, CONTINUA,.TION 1904 South Street P.O. Box 532 Blair, Nebraska 68008 Telephone (402) 426 -9626 Fax(402)426 -9630 June 25, 2004 Geoffrey C. Hall P.O. Box 216 Blair, NE 68008 Re: Owners Title Insurance Policy #7410727 - 11382 Owners: City of Blair, Nebraska Legal Description: The West 60 feet of Tax Lot 200, Southwest Quarter of the Southeast Quarter in Section Twelve (12), Township Eighteen (18) North, Range Eleven (11) East of the 6th P.M., in the City of Blair, Washington County, Nebraska; and A tract of land as measured from the West line of the Southwest Quarter of the Southeast Quarter (SW1 /4 SE1 /4), of Section 12, Township 18 North, Range 11 East of the 6th P.M., City of Blair, Washington County, Nebraska, described as follows: the West 60 feet of the Northeasterly Half of the railroad right of way as it existed on March 1, 1980, which is immediately adjacent to Tax Lot 200 in said Section 12, Township 18 North, Range 11 East of the 6th P.M., City of Blair, Washington County, Nebraska. Dear Geoff: Please find enclosed the owner's title insurance policy and recorded deeds on the above referenced matter for the City of Blair. If there are any questions or comments concerning the policy, please don't hesitate to contact m( N10/1w Encl. 13092 US Hwy 3() * Blair, NE 68008 * (402) 426-9580 or 00 -0202 Date: April 7, 2004 Project: South street house demolition Henton Trenching, Inc. proposes the following bid for the above mentioned project. Any exclusions are as indicated below. Please call (402) 426 -9580 or 533 -3158 if you have any questions regarding this bid. Bid includes clean -up and removal of all concrete and debris, hauling in and compacting approx. 300 yards of dirt from city street department shop. Does not include any tree removal or permit fees. All work will be left in rough grade condition. $3175.00 Policy of Title Insurance 2. Any defect in or lien or encumbrance on the title; 3. Unmarketability of the title; 4. Lack of a right of access to and from the land. The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. This policy shall not be valid or binding until countersigned below by an authorized signa- tory of the Company. Authori6d Sipa Reorder Form No. 8908 (Reprinted 10/00) ALTA Owner's Policy (10-17-92) POL-0-92-NE (R. 5-27-99) For Use In Nebraska 1 OFFICE FILE NUMBER POLICY NUMBER DATE OF POLICY AMOUNT OF INSURANCE PREMIUMAMOUNT I J -01993 2 7410627 - 11382 3 June 25, 2004 4 $35,640,00 1 $156.00 1. Name of Insured: City of Blair, Nebraska 2. The estate or interest in the land which is covered by this Policy is: Fee Simple Title to the estate or interest in the land is vested in the Insured: 4. The land herein described is encumbered by the following mortgage or trust deed, and assignments: None and the mortgages or trust deeds, if any, shown in Schedule B hereof. 5. The land referred to in this Policy is described as follows: Tract I: The West 60 feet of Tax Lot 200, Southwest Quarter of the Southeast Quarter in Section Twelve (12), Township Eighteen (18) North, Range Eleven (11) East of the 6th P.M., in the City of Blair, Washington County, Nebraska; and Tract H: A tract of land as measured fiom the West line of the Southwest Quarter of the Southeast Quarter (SWl /4 SE 1/4), of Section 12, Township 18 North, Range 11 East of the 6th P.M., City of Blair, Washington County, Nebraska, described as follows: the West 60 feet of the Northeasterly Half of the railroad right of way as it existed on March 1, 1980, which is immediately adjacent to Tax Lot 200 in said Section 12, Township 18 North, Range 11 East of the 6th P.M., City of Blair, Washington County, Nebraska. This Policy is valid only if Schedule B is attached. SCHEDULE A Owners Form 1 Policy Numben 7410627 - 11382 1 '14!12 41 111 � 1111 IIJI This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of. *General Exceptions: (1) Rights or claims of parties in possession not shown by the public records. (2) Encroachments, overlaps, boundary line disputes, and any other matters which would be disclosed by an accurate survey and inspection of the premises. (3) Easements or claims of easements not shown by the public records. (4) Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records. (5) Taxes or special assessments which are not shown as existing liens by the public records. *Special Exceptions: The mortgage, if any, referred to in Item 4 of Schedule A. (Special exceptions are those defects disclosed by a search of the title to this property for which no coverage is provided by this policy.) 1. Parcel ID #: 890039914. (Tax Lot 200) Real estate taxes for 2003 are shown paid. Real estate taxes for the year 2004 and all subsequent taxes are excepted. Parcel ID #890040075. (Railroad ROW) Real estate taxes for 2003 are shown paid. Real estate taxes for 2004 and all subsequent taxes are excepted. 2. An Easement Agreement dated September 13, 1990, for a perpetual easement for retention and for the continued use and maintenance of the driveway, recorded in Book 189 at Pages 502 -503 on December 5, 1990, SCHEDULE B Owners Form acneauie is or tnis roiicy consists of -1- page(s) the action or proceeding, and all appeals therein, and permit the Company to use, at its option, the name of the insured for this purpose. Whenever requested by the Company, the insured, at the Company's expense, shall give the Company all reasonable aid (i) in any action or proceeding, securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement, and (ii) in any other lawful act which in the opinion of the Company may be necessary or desirable to establish the title to the estate or interest as insured. If the Company is prejudiced by the failure of the insured to furnish the required cooperation, the Company's obligations to the insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such cooperation. 5 PROOF OF LOSS OR DAMAGE In addition to and after the notices required under Section 3 of these Conditions and Stipulations have been provided the Company, a proof of loss or damage signed and sworn to by the insured claimant shall be furnished to the Company within 90 days after the insured claimant shall ascertain the facts giving rise to the loss or damage. The proof of loss or damage shall describe the defect in, or lien or encumbrance on the title, or other matter insured against by this policy which constitutes the basis of loss or damage and shall state, to the extent possible, the basis of calculating the amount of the loss or damage. If the Company is prejudiced by the failure of the insured claimant to provide the required proof of loss or damage, the Company's obligations to the insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such proof of loss or damage. In addition, the insured claimant may reasonably be required to submit to examination under oath by any authorized representative of the Company and shall produce for examination, inspection and copying, at such reasonable times and places as may be designated by any authorized representative of the Company, all records, books, ledgers, checks, correspondence and memoranda, whether bearing a date before or after Date of Policy, which reasonably pertain to the loss or damage. Further, if requested by any authorized representative of the Company, the insured claimant shall grant its permission, in writing, for any authorized representative of the Company to examine, inspect and copy all records, books, ledgers, checks, correspondence and memoranda in the custody or control of a third party, which reasonably pertain to the loss or damage. All information designated as confidential by the insured claimant provided to the Company pursuant to this Section shall not be disclosed to others unless, in the reasonable judgment of the Company, it is necessary in the administration of the claim. Failure of the insured claimant to submit for examination under oath, produce other reasonably requested information or grant permission to secure reasonably necessary information from third parties as required in this paragraph shall terminate any liability of the Company under this policy as to that claim. 6. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS: TERMINATION OF LIABILITY In case of a claim under this policy, the Company shall have the following additional options (a) To pay or Tender Payment of the Amount of Insurance. To pay or tender payment of the amount of insurance under this policy together with any costs, attorneys' fees and expenses incurred by the insured claimant, which were authorized by the Company, up to the time of payment or tender of payment and which the Company is obligated to pay. Upon the exercise by the Company of this option, all liability and obligations to the insured under this policy, other than to make the payment required, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, and the policy shall be surrendered to the Company for cancellation. (b) To pay or Otherwise Settle With Parties Other Than the Insured or With the Insured Claimant. (i) to pay or otherwise settle with other parties for or in the name of an insured claimant any claim insured against under this policy, together with any costs, attorneys' fees and expenses incurred by the insured claimant which were authorized by the Company up to the time of payment and which the Company is obligated to pay; or (ii) to pay or otherwise settle with the insured claimant the loss or damage provided for under this policy, together with any costs, attorneys' fees and expenses incurred by the insured claimant which were authorized by the Company up to the time of payment and which the Company is obligated to pay. Upon the exercise by the Company of either of the options provided for in paragraphs (b)(i) or (b)(ii), the Company's obligations to the insured under this policy for the claimed loss or damage, other than the payments required to be made, shall terminate, including any liability or obligation to defend, prosecute or continue any litigation. 7 DETERMINATION, EXTENT OF LIABILIT AND C_OINSURANLE This policy is a contract of indemnity against actual monetary loss c,, damage sustained or incurred by the insured claimant who has suffered loss or damage by reason of matters insured against by this policy and only` to the extent herein described. (a) The liability of the Company under this policy shall not exceed the least of: (i) the Amount of Insurance stated in Schedule A; or, (ii) the difference between the value of the insured estate or interest as insured and the value of the insured estate or interest subject to the defect, lien or encumbrance insured against by this policy. (b) In the event the Amount of Insurance stated in Schedule A at the Date of Policy is less than 80 percent of the value of the insured estate or interest 6r the full consideration paid for the land, whichever is less, or if subsequent to the Date of Policy an improvement is erected on the land which increases the value of the insured estate or interest by at least 20 percent over the Amount of Insurance stated in Schedule A, then this Policy is subject to the following: (i) where no subsequent improvement has been made, as to any partial loss, the Company shall only pay the loss pro rata in the proportion that the amount of insurance at Date of Policy bears to the total value of the insured estate or interest at Date of Policy; or (ii) where a subsequent improvement has been made, as to any partial loss, the Company shall only pay the loss pro rata in the proportion that 120 percent of the Amount of Insurance stated in Schedule A bears to the sum of the Amount of Insurance stated in Schedule A and the amount expended for the improvement. The provisions of this paragraph shall not apply to costs, attorneys' fees and expenses for which the Company is liable under this policy, and shall only apply to that portion of any loss which exceeds, in the aggregate, 10 percent of the Amount of Insurance stated in Schedule A. (c) The Company will pay only those costs, attorneys' fees and expenses incurred in accordance with Section 4 of these Conditions and Stipulations. 8. APPORTIONMENT If the land described in Schedule A consists of two or more parcels which are not used as a single site, and a loss is established affecting one or more of the parcels but not all, the loss shall be computed and settled on a pro rata basis as if the amount of insurance under this policy was divided pro rata as to the value on Date of Policy of each separate parcel to the whole, exclusive of any improvements made subsequent to Date of Policy, unless a liability or value has otherwise been agreed upon as to each parcel by the Company and the insured at the time of the issuance of this policy and shown by an express statement or by an endorsement attached to this policy. 9. LIMITATION OF LIABILITY (a) If the Company establishes the title or removes the alleged defect, lien or encumbrance, or cures the lack of a right of access to or from the land, or cures the claim of unmarketability of title, all as insured, in a reasonably diligent manner by any method, including litigation and the completion of any appeals therefrom, it shall have fully performed its obligations with respect to that matter and shall not be liable for any loss or damage caused thereby. (b) In the event of any litigation, including litigation by the Company or with the Company's consent, the Company shall have no liability for loss or damage until there has been a final determination by a court of competent jurisdiction, and disposition of all appeals therefrom, adverse to the title as insured. (c) The Company shall not be liable for loss or damage to any insured for liability voluntarily assumed by the insured in settling any claim or suit without the prior written consent of the Company. 10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF LIABILITY All payments under this policy, except payments made for costs, attorneys fees and expenses, shall reduce the amount of the insurance pro tanto. 11 LIABILITY NONCUMULATIVE It is expressly understood that the amount of insurance under this policy shall be reduced by any amount the Company may pay under any policy insuring a mortgage to which exception is taken in Schedule B or to which the insured has agreed, assumed, or taken subject, or which is hereafter executed by an insured and which is a charge or lien on the estate or interest described or referred to in Schedule A, and the amount so paid shall be deemed a payment under this policy to the insured owner. Page 3 COMPLETE SELF - CONTAINED @ FOR CITY OF BLAIR, NEBRASKA RE: PROPOSED 10 STREET BLAIR, NEBRASKA RIM RUSS NELSEN NELSEN APPRAISAL SERVICES, INC 710 South 19 Street Blair, NE 68008 rr� I, Russ Nelsen do hereby certify that, to the best of our knowledge and belief: 1. The statements of fact contained in this Complete Self Contained Appraisal Report are true and correct. 2. The reported analysis, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, where applicable, and are my personal, unbiased professional analysis, opinions, and conclusions. 3. I have no present or prospective interest in the property that is the subject of this report, and I have no personal interest or bias with respect to parties involved. 4. My compensation is not contingent upon the reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value estimate, the attainment of a stipulated result, or the occurrence of a subsequent event. 5. My analysis, opinions and conclusions were developed, and this report has been prepared in conformity with the Uniform Appraisal Standards for Federal Land Acquisitions and Code of Professional Ethics and the Standards of Professional Appraisal Practice of the Appraisal Institute. 6. No one provided significant professional assistance to the undersigned. 7. I have made a personal inspection of the land of the subject property and that the property owner or his/her designated representative was given the opportunity to accompany the appraiser on the property inspection. I observed the grounds and parking area on the subject property. 8. Russ Nelsen currently holds a General Certified Appraisers in Nebraska and Iowa. R uss Nelsen Date General Certified Appraiser State of Nebraska CG 920 276 State of Iowa 506642249 To: City of Blair, Nebraska RE: Proposed 10 Street I have made an investigation and appraisal of the fee simple interest in the real property located at: 10 Street, Blair, NE and submit our findings in this report. The purpose of the appraisal is to express an opinion as of November 10, 2003, of the fair market value of the real property, assuming it to be vacant and available for sale on the open market. The function of our appraisal is to estimate market value. Fair Market Value is defined as the estimated amount at which the property might be expected to exchange between a willing buyer and a willing seller, neither being under compulsion, each having reasonable knowledge of all relevant facts, with equity to both. The land, land improvements, and building have been valued as if offered in the open market for a reasonable period of time in which to find a buyer. We have assumed the property to be available for a development to its highest and best use, free and clear of all liens and encumbrances. Fee Simple Interest is defined as an absolute fee, free of limitations to any particular class of heirs or restrictions, but subject to the limitations of eminent domain, escheat, police power, and taxation. Our report consists of: A narrative report containing descriptions of the property appraised, the valuation techniques used, and a statement of the conclusion of value. Exhibits consisting o£ Plat, photographs, identifying land description, building sketch (if applicable), assumptions and limiting conditions, and certificate of appraiser. I appraised on the real estate including land, land improvements, buildings, fixed building service equipment and carpeting. Excluded were furnishings, equipment, inventory and movable or personal property. I have not investigated the title to or any liabilities against the property appraised. Respectfully submitted, Russ Nelsen Nelsen Appraisal Services, Inc. Indentification of the Property. The legal description provided to the appraisals is presumed to be correct, but it has not been confirmed by a survey. The appraisers assume no responsibility for such a survey, or for encroachments that might be revealed thereby. The appraiser render no opinion of a legal nature, such as to the ownership of the property or condition of title. The appraisers assume the title to the property to be marketable; that the property is an unencumbered fee; and that the property does not exist in violation of any applicable codes, ordinances, statutes, or other governmental regulations. Unapparent Conditions. The appraisers assume that there are no hidden or unapparent conditions of the property, subsoil, or otherwise comparable property. The apprasiers assume no responsibility for such conditions or for engineering which might be required to discover such things. Existence of Hazardous Materials. Unless otherwise stated in this report, the existence of hazardous materials, which may or may not be present on the property, was not observed by the appraisers. The appraisers have no knowledge of the existence of such materials on or in the property. The appraisers, however, are not qualified to detect such substances. The presence of substances such as asbestos, urea - formaldehyde foam insulation, radon gas, or other potentially hazardous materials may affect the value of the property. The value estimate is predicated on the assumption that there is no such material on or in the property that would cause a loss in value. No responsibility is assumed for any such conditions, or for any expertise or engineering knowledge required to discover them. The client is urged to retain an expert in this field, if desired. Information and Data. The information and data supplied by others to the appraisers, which has been considered by the appraiser in the valuation, is from sources believed to be reliable, but no further responsibility is assumed for its accuracy. Sketches and Maps. Any sketches included in the report are only for the purpose of aiding the reader in visualizing the property and are not based on survey. Sizes and dimensions not shown should not be scaled from the sketches. The scope of work (as defined in USPAP) is the amount and type of information researched and the analysis applied in an assignment. Scope of work includes, but is not limited to, the following: a. the degree to which the property is inspected or identified; b. the extent of research into physical or economic factors that could affect the property; c. the extent of data research; and d. the type and extent of analysis applied to arrive at opinions or conclusion. The amount and type of information researched and the analysis applied in this assignment conforms with the expectations of participants in this market for the same or similar appraisal services and is what the appraiser's peer's actions would be in performing the same or a similar assignment in compliance with the Uniform Standard of Professional Appraisal Practice. The appraisal is based on the information gathered by the appraiser from public records, other identified sources, inspection of the subject property and neighborhood, and selection of comparable sales, listings, and/or rentals within the subject market area. The sources and data are considered to be reliable. The extent of the analysis applied to this assignment may be further imparted within the report, the Appraiser's Certification below and /or any other Statement of Limiting Conditions when Applicable. The data and information collected, verified and analyzed in this appraisal is considered to be all information necessary to solve the problem in the assignment. The methods and techniques employed to develop problem- solution indicators in the analysis of data and information is considered to be sufficient to develop a credible opinion of value. 411 AN e Property Kevin Wehrli Lot Location 10 & Grant Street, Blair, NE Client City of Blair, NE Date of Appraisal November 10, 2003 Property Rights Fee Simple Area of Site Total Site 378,704 SF Taking 39,600 SF - called Improvements None considered with taking Zoning Special Mobile Home District Estimate of Value Value before Taking - $300,000 Value of Taking - $35,640 Severence Damage - $0.00 Value After Taking 264,400 1 ♦... ,,. ♦ t ) 1 ♦ ♦. It Ig The effective date of this appraisal is November 10, 2003. FPY l 00 The date of inspection is November 10, 203. The purpose of this appraisal is to establish an accurate and defensible market value. This estimate will be of fee simple title of the subject property. This appraisal is of the real property only. This appraisal is to assist the City of Blair to acquire a strip of land to end extend 10 Street south of Grant Street in Blair, Nebraska. Definition of Severance Damage The definition of severance damage is taken from The Dictionary of Real Estate Appraisal, third edition, published in 1993 by The Appraisal Institute, on page 329, is: Severance Damage. "In a partial taking, a decline in the market value of the remainder that arises as a result of the taking and/or the construction of the proposed improvement." Definition of Just Compensation The definition of just compensation was taken from The Dictionary of Real Estate Appraisal, third edition, published by The Appraisal Institute in 1993 by The Appraisal Institute, on page 329, is: Just Compensation. "In condemnation, the amount of loss for which a property owner is compensated when his or her property is taken; should put the owner in as good a position pecuniary as he or she would be if the property had not been taken; generally held to be market value, but courts have refused to rule that is it always equivalent to market value ". OWNERS AWARENESS OF PROJECT The property owners were notified by telephone on November 7, 2003, by Russ Nelsen of Nelsen Appraisal Service. Kevin Wehrli met with me on November 7 th and the project was discussed with him. He stated that he was aware of the propect as he was also notified by the City of Blair. COMPETENCY PROVISION The competency provision of the Uniform Standards of Professional Appraisal Practice states in brief that, prior to accepting an appraisal assignment, an appraiser must have the knowledge and experience to complete the assignment competently or disclose the lack thereof; and take all necessary steps and describe in the appraisal report the steps taken to complete the assignment competently. The persons signing this report have the necessary knowledge and experience to competently complete this appraisal assignment. Thomas E. Stevens has had over 36 years appraisal experience and has operated his own appraisal business for 27 years, specializing in the appraisal of commercial, multi - family, single family and two family residential, special purpose properties, potential subdivision land, and improved and unimproved acreage properties. Dennis J. Knudson has had over 32 years appraisal experience and has operated his own appraisal business for 14 years. He has specialized in the appraisal of commercial, office, industrial, multi- family, single family and two family residential, special purpose properties, potential subdivision land, and improved and unimproved acreage properties. This experience, as well as his education, appraisal training, and continuing education in appraising, provide him with the background and necessary education to provide a professionally derived opinion of the estimated market value of the subject property. DISCLOSURE OF CLIENT AND INTENDED USER This report is intended for use only by the City of Blair, Nebraska. Use of this report by others is not intended by the appraiser. ENVIRONMENTAL CONSIDERATIONS As stated in the Limiting Conditions, the appraisers are not experts in evaluating environmental hazards. The appraisers are not aware of any environmental surveys that have been conducted on any of the sites. It is considered good practice to have a preliminary environmental survey conducted on any property prior to purchase. The appraisals prepared on the various tracts have made no allowance for any environmental problems associated with the sites. The property rights appraised are the fee simple title to the land and improvements which comprise the subject property. DEFINITION OF FEE SIMPLE An absolute fee; a fee without limitations to any particular class of heirs or restrictions, but subject to the limitations of eminent domain, escheat, police power, and taxation. An inheritable estate. Source: Byrl N. Boyce, Real Estate Appraisal Terminology - Revised Edition (Ballinger Publishing Company, Cambridge, Massachusetts, First Printing 1981), p. 102. The objective of the appraisal is to estimate the market value of the subject property land and improvements to the land as described in this report. DEFINITION OF MARKET VALUE The most probable price in terms of money which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: 1. Buyer and seller are typically motivated. 2. Both parties are well informed or well advised, and each acting in what they consider their own best interest. 3. A reasonable time is allowed for exposure in the open market. 4. Payment is made in cash or its equivalent. 5. Financing, if any, is on terms generally available in the community at the specified date and typical for the property type in its locale. 6. The price represents a normal consideration for the property sold unaffected by special financing amounts and/or terms, services, fees, costs, or credits incurred in the transaction. Source: Byrl N. Boyce, Real Estate Appraisal Terminology - Revised Edition (Ballinger Publishing Company, Cambridge, Massachusetts, First Printing 1981), pp. 160 -161. MARKETING TIME AND EXPOSURE TIME ESTIMATE On September 16, 1992, the Appraisal Standards Board of the Appraisal Foundation issued advisory opinions on the Uniform Standard of Professional Appraisal Practice (USPAP) for the referenced times. Generally Exposure Time relates to what has occurred and is currently occurring in the market, while Marketing Time is a projection of what is likely to occur in the market. These references are consistent with the appraisal of any property where was as appraisers look at what has, is, and will most likely occur in issuing an opinion of value for a property. Both time periods are a function of price, time, use, and the cost and availability of funds. The primary difference between the two time periods is that for marketing time was also consider anticipated changes in market condition (trends). Assisting us in making estimates for the two time periods are verification of sales data such as days on the market for properties, both listed and sold, along with interviews of market participants. Understanding buyers' and sellers' motivations (financial assumptions) is primary for reasonably priced property as well as considering who the most likely purchaser will be, and how financing impacts their buying decision. Properties like the subject in Blair have varying market times with an estimate of marketing for the subject to be three to six months. The highest and best use for the subject property is residential. ZONING AND UTILITIES The subject property is zoned Special Mobile Home District. The improvements do conform to present zoning guidelines. All normally expected utilities are available to the site including public water, sewer, power and natural gas. ECONOMIC PRINCIPLES CONSIDERED Anticipation: Market value is the present worth of all the anticipated future benefits to be derived from the property. The benefits may be in the form of an income stream or amenities. Balance: The principle of balance has dual significance. When applied to an individual property, maximum market value is reached when the four agents of production -- labor, coordination or management, capital, and land -- attain a state of equilibrium. Balance works in conjunction with the principles of contribution, increasing and decreasing returns, and surplus productivity. When applied to a neighborhood, the principle indicates that market value is reached when the complementary uses of land attain an equilibrium. When the principle of balance is applied to a neighborhood, it works in conjunction with the principle of competition. Change: Market value is never constant because economic, social and government forces are at work to change the property and its environment. Because change is continuous, the estimate of market value is valid only on the day it is made. The principle of change works in conjunction with the principle of anticipation. Competition: This principle states that when profits are being make, competition is created. This tends to dissipate excess profit, although some may remain and contribute to increased land value. Conformity: This principle states maximum market value is reached when a reasonable degree of economic and social homogeneity is expected in foreseeable future. Conformity works in conjunction with the principles of progression and regression. Consistent Use: Property must be valued with a single use for the entire property. It is improper to value a property on the basis of one use for the land and another use for the improvements. When a parcel is ready for a higher use, the improvements may still have a long physical life, but their economic life may have terminated or be negative. Contribution: The value of an agent of production (or a property component) depends upon its contribution to the whole. In other words, cost does not necessarily equal value. The principle of contribution works in conjunction with the principles of balance, increasing the decreasing returns, and surplus productivity. Increasing and Decreasing Returns: This refers to the inter - relationship between cost, price and volume of goods of services produced. Volume should be increased to the point where marginal cost equals marginal revenue. At this point maximum return is obtained and competition is reduced. Substitution: A property's market value tends to be set by the cost of acquiring an equally desirable and valuable substitute property, assuming that no costly delay is encountered in making the substitution. This principle serves as the basis of the three approaches to value -cost, comparative sales and income. 0 1 `fy1� s \ 11111 Taxes $2,842.52 Assessed Value $151,255 These values are as reported by the Washington County Assessor's Office. They are stated for reference only and do not effect the final value estimate in this report. They do not include the value or taxes for the lot with improvement. Legal: Tax Lot 200 and 216, section 12, township 18, range 11 (12- 18 -11) Washington County, Nebraska. Location: 925 Grant Street, Blair, Nebraska Improvements: See attached form. Site: Total Approximately $378,704 SF Proposed Taking Approximately 39,600 SF Description of Taking: The proposed taking includes a strip of land 60 feet wide starting at the northwest corner of the subject property adjacent to Grant Street, and continues south to the subjects south property line. The total estimated total amount taken is approximately 39,600 SF The land in the proposed taking is nearly street level and is adjacent to a single family residence and unimproved Colfax Street. This part of the subject lot is mostly volunteer trees and because of its location at the west part of the lot has a high per square foot value than the eastside of the lot. .� � ► 1 s�17 =1 Blair is a city of approximately 7000 people and lies in the east part of Washington County near the Missouri River. It is within 20 miles of north Omaha and a major airport. Blair is served by four major highways and in addition is within 20 miles of two major Interstate systems. A new bridge links Nebraska and Iowa along Highway 30. A modern rail system runs though Blair as well as different spurs. The Missouri River provides for waterway transportation and shipping Therefore, Blair is a convenient location for commercial based operations. Farming and related industries are the main enterprises in the county. Areas that are not conducive to farming are used for pasture and residential acreage development, especially in the south on half of the county. Quarrying is important, especially along the river between Blair and Fort Calhoun. Washington County is located in east central Nebraska along the Missouri River which borders the county on the east. Burt County is to the north, Dodge County to the west and Douglas County is to the south. The county has a land area of approximately 387 square miles or 247,680 acres. Blair is the county seat which is located along the Missouri River. The Blair area has shown recent strong growth of its residential and commercial market. Strong expansion of the commercial market has been evident over the past one year. This is due mainly to the proximity to the Cargill Corn Milling Plant and the Omaha metropolitan area. The immediate subject area is currently of mixed uses that includes single and multi family residential, retail commercial and industrial. There is close proximity to shopping and most normally expected services. Grant Street is concrete paved. No adverse influences or conditions are apparent regarding the subject neighborhood. An appraisal is an estimate of value; it is an opinion of value. Its accuracy depends on the basic competence and integrity of the appraiser and on the soundness and skill by which the appraiser processes the data. Its worth is influenced by the availability of pertinent data. The professional appraiser seeks current facts and the appraiser seeks to be practical. The appraiser's opinion must be without bias. As with other types of "markets" the real property appraiser does not make the market, but rather interprets the market. The three traditional approaches to value, namely the Cost Approach, the Income Capitalization Approach, and the Sales Comparison Approach, each discussed separately below, are all comparative approaches in that the basic data comes from direct and indirect comparisons in the market and the appraiser's judgement which is based on market experience. The cost approach, the cost to reproduce the property at the date of the appraisal, less an appropriate allowance for depreciation (physical deterioration, functional obsolescence, and external obsolescence) is made by market comparisons of cost and depreciation. The cost approach tends to set the upper limit of value. In the income capitalization approach, the future operation experience is estimated from comparable market data. Gross rental schedules, vacancy and collection losses, fixed expenses, operating expenses, and reserves for replacements are estimated and result in an estimate of value by a capitalization process. The capitalization rate (interest rate and recapture rate) is based on demonstrated rates found in the market. The method and technique of capitalization is determined by the nature of the property in the market. In the sales comparison approach, the subject property is compared to sales of similar properties. The sales are analyzed to bring out similar characteristics to common denominators. Such common denominators may include number of units, number of rooms, square feet, front feet, or a gross rent multiplier. Where necessary, adjustments are made to allow for difference of date of sale, location, size of property, condition of property, and other factors. Because the area of the proposed taking is considered to have a different value than other parts of the total subject lot, the estimated value of the subject is based on only specific land that is being taken. Because of this premise, there is no damage to the remainder of the subject lot. Under the "principle of substitution ", a prudent buyer will not pay more for a property than it would cost to build another property of equal utility assuming no unreasonable delays. Various cost indexes applicable are studied and adjusted to local construction costs. These building costs have been calculated on a square foot basis, and include basic field costs (material and labor), site grading, excavation, contractor's profit, architect's fees, insurance and interim financing. Included in the estimated cost of reproduction of the improvements are the structural components plus all mechanical and electrical systems which are an integral part of the structure. Where applicable, this includes heating, ventilating, cooling, sprinklers, and security equipment. Primary reference used was the Marshall Swift Cost Handbook and local contractors were consulted to arrive at a more precise square foot cost. Depreciation is a loss from the upper limit of value. It is an effect caused by deterioration and/or obsolescence. There are five general methods of estimating accrued depreciation, they are: (1) the capitalized income method, (2) the market method, (3) the straight -line method (also referred to as the age -life method, (4) the engineering method, and (5) the breakdown method. The first two are indirect methods while the last three are direct methods. The capitalized income method borrows from the Income Capitalization Approach and the deprecation estimate of the Cost Approach is the by- product. The method implies that the deterioration and obsolescence reduce the quality, quantity, and projected duration of the net income and reduce the indication of value by the Income Capitalization Approach and such indication becomes the basis for the estimate of depreciation in the Cost Approach. This is appropriately handled by a capitalization process within the Cost Approach or less directly in the Reconciliation of Value Indications. The market method is based on consideration of sales prices. Percentages of depreciation as established in the market place may be applied to reproduction cost. Again this borrowing from the Sales Comparison Approach may be appropriately handled in the Cost Approach or in the Reconciliation. The straight -line method estimated the effective age of the improvements, the remaining economic life, and takes the ratio between the number of years of effective age to the total of the effective age and remaining economic life. The engineering method, in effect, applies age -life methods to the individual parts of the structure. The breakdown method separates the various component parts of depreciation into (a) physical deterioration (physical deterioration curable, physical deterioration curable but not yet cured, and physical deterioration incurable), (b) functional obsolescence (curable and incurable), and (c) external (environmental) obsolescence (usually considered incurable). The appraiser has considered deprecation of the subject property's improvements by the breakdown method borrowing from the capitalized income method to measure portions of obsolescence. Land value of the subject property is estimated by comparison to other similar land sales. In using the comparison approach, the appraiser estimates the price that the land will bring in a sale based on similar market transactions. These sales are then analyzed to bring out similar characteristics to common denominators. Adjustments are then made to allow for differences in time of sale, size of property, location, topography, zoning, access, etc. The cost approach is not applicable for the subject. "'.I One approach considered in the valuation of properties is the income approach. This approach involves the relationship of anticipated cash flow to value. As a result, this approach is applicable to income producing properties such as farms and ranches. The income approach is utilized routinely in the appraisal of these properties. The income approach involves the conversion of anticipated future benefits in value. The income approach measures the quality, quantity and durability of an income stream. The most important economic principle is the principle of anticipation. The principle of anticipation states that value is created by the anticipation of future benefits. Other principles to be considered are: CHANGE SUBSTITUTION INCREASING/DECREASING RETURNS EXTERNALITIES HIGHEST AND BEST USE Logic indicates that an informed purchaser will not pay more for a property than the cost of obtaining a return of the same amount on another property having the same risk and amenities. The method most commonly applied to rural properties is the direct capitalization approach. This procedure is "straight forward" in that you divide the anticipated net income by the appropriate capitalization rate to obtain an indication of value. The challenge to this approach is developing a realistic anticipation of income based on market data and obtaining a rate which is supported by the market. Direct capitalization assumes that the anticipated income will continue in perpetuity. STEPS IN THE INCOME APPROACH Over the years, a fairly standard routine has developed for application of the Income Capitalization Approach to rural properties. The steps are as follows: 1. Develop a model as to the typical operation in the area 2. Project the gross income for the property being analyzed 3. Project expenses for the property being analyzed 4. Develop an income stream for each property based on the model 5. Develop an indication of the capitalization rate 6. Use appropriate technique to estimate value SELECTING CAPITALIZATION RATE Once an income model has been developed for an area, it should be applied consistently to all properties being analyzed. This analysis should provide a range in income based on differences in the size and quality of the tracts. In direct capitalization, these income streams are divided by the sale price to obtain an indication of the rate of return being accepted by a typical buyer. CAPITALIZING THE NET INCOME Once we have derived the appropriate capitalization rate from the market, and developed a typical income stream for the subject property, it is a relatively simple calculation to estimate the value of the subject property. At this point, we divide the anticipated income from the subject property by the market derived capitalization rate to obtain our value estimate. The subject is not an income property, therefore, the income approach well not be developed. The procedure of the Sales Comparison Approach arrives at an estimate of value by comparing the subject property to sales of similar properties. Under the "principle of substitution ", a prudent person will not pay more to buy or rent a property than it will cost them to buy or rent an equally desirable substitute with common denominators. Such common denominators may include a site, square feet, front feet, and acres. The subject property being appraised is compared and rated with other like properties for which market data is available. The appraiser assembles the pertinent facts about the comparable property. The major points of comparison are: (1) time, (2) location, (3) physical characteristics, and (4) economic characteristics. A sale of a property that is an exact duplicate of the subject property would be an important indication of value. In actual practice, no two properties are exactly alike. Therefore, potentially comparable sales must be assigned some common denominator for comparison with the subject property. The sales with the greatest degree of comparability are adjusted for the differences between the subject property. For example, if the comparable property sold two years ago and prices had gone up 5 %, then the sale price of the comparable would be increased by 5% to give the indication of value for the subject. If the comparable property was in a better location than the subject and this difference is estimated at 5 %, then the sale price of the comparable would be decrease by 5% to give the indication of value for the subject. The adjustments for different physical and economic characteristics are handled in the same manner. Adjustments may be by percentages or by amounts or both. Often, it is advisable to include additional sales that may not be ideal but do show upper and lower limits of value and do demonstrate a thorough study of the market. For some types of properties, sales many years old are of value and, in some instances, sales many miles distant can be significant. Closely comparable properties are sought first, but less comparable examples can build a pattern where the probable market price of the subject property may fit. The appropriate common denominator is considered to be the value per acre in applying the Sales Comparison Approach to the subject property in the appraisal. Land only transactions were considered to arrive at an estimated market value for the subj ect. Instrument: Warranty Deed Location: 8 th and Grant Street, 2 blocks from subject Legal Description: TL 247, 12 -18 -11 Date of Sale: May 30, 2002 Grantor: Wright Investments Grantee: Barker Zoning: Agricultural, Manufacturing Light Industrial Land Size: 356,756 SF Sale Price: $107,027 Price Per SP: $.30 /SF Financing: Cash Equivalent Confirmed by: Buyer /Seller Remarks: This is a large tract of commercially zoned land. Buyer improved part of the land and has remaining lot on the market for $1.50 /SF. LAND TRANSACTION- NUMBER 2 Instrument: Warranty Deed Location: So. Hwy 30, Blair, NE 1.5 miles SW of subject Legal Description: PT of TL 251, 14 -18 -11 Date of Sale: December, 2002 Grantor: McDonald Grantee: LMP Size of Tract: 200,812 acres Sale Price: $325,000 Price /SF: $1.62 /SF Zoning: Highway Commercial Remarks: This is a sale of a large tract of land superior in location, adjacent to a major highway. Location is superior but lot needed extensive site work. i �• ; Instrument: Warranty Deed Location: North Hwy 75 and Wright Street, Blair, NE Legal Description: PT lot 7 and 8, Block 2, Neff Addition Date of Sale: December, 2001 Grantor: Jay Grantee: Nannen Zoning: Highway Commercial Land Size: 26,000 SF Sale Price: $25,000 Price Per SP: $.96 /SF Financing: Cash Equivalent Confirmed by: Court House Remarks: This is sale of a land with slightly superior locational appeal. Lot required some site work. LAND TRANSACTION - NUMBER 4 Instrument: Location: Legal Description: Date of Sale: Grantor: Grantee: Land Size: Sale Price: Price Per SF: Zoning: Confirmed by: Remarks: Warranty Deed 12 and Park Street, Blair, NE Lot 2, Block 7, 2" Addition July, 2001 Curley Anderson 8,400 SF $18,000 $2.14 /SF Residential Court House This is a sale of a small residential lot with superior locational appeal. MARKET APPROACH ADJUSTMENTS TABLE (Total — 378,704 SF — Taking — 39,600 SF) The foregoing sales range in size form a low of 18,000 square feet to a high of 356,756 feet with a arithmetic mean of 150,392 square feet. The sales also range in price from a low of $30 per square foot to a high of $2.14 per square foot with a arithmetic mean of $1.26 per square foot. The average adjusted sale price is .86 /SF A variety of sale types were considered as no ideal comps were available. Sale #1 is located nearest to the subject and represents the lowest sale price per square foot. This tract is however for sale new for $1.50 per square foot. In addition, a variety of tract sizes were considered. Based on the foregoing sales as well as consideration given to other residential lot sales throughout Blair, the subject has a called value of .90 /SF. Subject 39,600 SF @ .90 = $35,640 Called $35,600 Site Size -SF Sale Date Time Site Size Access ocation Adj /Price 356,756 5 -02 = +.25 = _ .55 F24 200,812 12 -02 = +.40 = -1.00 1.02 26,000 12 -01 +.20 = _ -.25 .91 18,000 7 -01 +.20 -.50 - -.70 .94 The foregoing sales range in size form a low of 18,000 square feet to a high of 356,756 feet with a arithmetic mean of 150,392 square feet. The sales also range in price from a low of $30 per square foot to a high of $2.14 per square foot with a arithmetic mean of $1.26 per square foot. The average adjusted sale price is .86 /SF A variety of sale types were considered as no ideal comps were available. Sale #1 is located nearest to the subject and represents the lowest sale price per square foot. This tract is however for sale new for $1.50 per square foot. In addition, a variety of tract sizes were considered. Based on the foregoing sales as well as consideration given to other residential lot sales throughout Blair, the subject has a called value of .90 /SF. Subject 39,600 SF @ .90 = $35,640 Called $35,600 Replacement Cost Approach Not applicable Income Approach Not applicable Market Approach $35,600 The cost and income approaches are not applicable for the subject and were not developed. The Sale Comparison Approach/Market Approach is the best estimate of value when good data is available and this information can be reduced to a common unit of measurement. In this case, price per square foot is the most applicable means of comparison on both parcels. The market approach tends to reflect value from actual transaction in the market place. This approach was given the most weight in determining value for the subject. FINAL ESTIMATE OF VALUE After consideration was given to all three approaches, but placing all weight on the market approach, the value of the taking is called at $35,600. No damage to the remainder of the subject lot is noted or given consideration in this report. Value before Taking - $300,000 Value of Taking $ 35,600 Severance Damage $ 0.00 Value After Taking $264,400 Russ elsen, Certified Appraiser Nelsen Appraisal Services, Inc. Summary A Report Pro rt r D i tl nanenoRn ncei 1FIUTIAI APPR REPORT Pit. Nn. 3987 Property Address 925 Grant Street Citt Blair State NE to Legal Description Tax Lot 200 & Tax Lot 216 Coun Wash!- -'-- Assessor's Parcel No. 890039914 Tax Year 2002 R.E. Taxes 2,842.52 Special .00 W o Borrower Kevin Wehrli Current Owner same Occupant Owner Vacant n/. Pro e rig hts appraised Fee Simple Leasehold Project T e PUD Condominium (HUD NA on Mo Nei hborhood or Project Name n/a Ma Reference Price n/a Date of Sale n/a Description and amount of ton charges/concessions to be paid by sells per ClIe t Mortgage Ex ress Addross 1705 Washin ton Biair NE 68008 Appraiser Russ Nelsen Cart. Appraiser Address 710 South 19th Street, Blair NE 68008 Location Urban Suburban Rural Predominant pR �y a am y ou present land use % Land use change Built up ®Over 75% El 25-75% El Under 25% occupancy $(000) (yrs) One family 90 Not likely ❑Likely Growth rate ❑ Rapid ® Stable ❑ Slow ® Owner 60 Low 2 2.4 family 2 ❑ In process Property values ® Increasing ® Stable ❑ Declining ❑ Tenant 350 Hl oh 95 Multi- family 2 To: Demand/supply El Shortage ® In balance El Over supply ® Vacant (0.5 %) Predominant„ Commercial 6 Marketing time N Under 3 mos. 3.6 mos. El Over 6 mos. F1 Vac. ove 5% 170 35 Note: Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood boundaries and characteristics: The neighborhood is the Blair city limits. This style and age home is typical throughout Blair and most neighborhoods are equal. The sub ect lot however is larger than typical. ° Factors that affect the marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.): The subject is located near the central part of Blair in an older established neighborhood. Most homes appear well maintained. The downtown business district and schools are w /in easy walking distance. The area is well accepted by the public and no adverse conditions are noted. Because of the proximity to Omaha which is the location of major shopping and employment, Blair is desired by a wide range of buyers. The subject pro is located at the east edge of the residential area in SE Blair and adjacent to commercial zoning. Market conditions in the subject neighborhood (including support for the above conclusions related to the trend of property values, demand/supply, and marketing time -- such as data on competitive properties for sale in the neighborhood, description of the prevalence of sales and financing concessions, etc.): The market remains strong in Blair for well maintained homes in this area. Adequate financina is available with few seller costs noted. The area has shown good marketability and few homes are presently for sale throughout Biair. The subject neighborhood is well accepted. Selling time is typically under O days for most es of properties. Marketing time has remained constant over the past few years In Blair. Residential listing typically sell at 95 -97% of the list price. Demand remains strono for properties like the subject. Project Information for PUDs (If applicable) - - Is the developer/builder in control of the Home Owners' Association (HOA)9 Yes No _ Approximate total number of units in the subject project Approximate total number of units for sale in the subject project Describe common elements and recreational facilities: Dimensions See attached surve . Topography slight slope away from street She area Approximately 8 6 acres Corner Lot ❑Yes ® No Size larger than typical Specific zoning classification and description Special Mobile Home /Residential Shape irregular Zoning compliance ® Legal ❑ Legal nonconforming (Grandfathered use) ❑ Illegal ❑ No zoning Drainage adeq uate HI hest & best use as Improved: M Present use Other use (explain) View average Utilities Public Other Off -site Improvements Type Public Private Landscaping average icity ® 200 amp Street concrete ® ❑ Driveway Surface gravel ® Curb/gutter concrete ® ❑ Apparent easements utili Water ® Sidewalk concrete ® ❑ FEMA Special Flood Hazard Area ❑ Yes ® No Sanitary sewer ® Street lights standard ® ❑ FEMA Zone C Map Date 7 -95 Storm sewer Alley no FEMA Map No. 31022800050 Comments (apparent adverse easements, encroachments, special assessments, slide areas, illegal or legal nonconforming zoning use, etc.): No apparent adverse or unfavorable easements or encroachments noted. No adverse conditions are apparent. See title insurance for any deed restrictions. Privacy is the major benefit from the large lot. Lot is ostly treed. GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION No. of Units 1 Foundation brick Slab no Area Sq. Ft 978 Roof ❑ No, of Stories 2 Exterior Walls steel Crawl Space Yes % Finished 30 Ceiling ❑ Type (DetlAtt.) detached Roof Surface asphalt Basement Yes Ceiling celotex Walls ❑ Design (Style) 2 story Gutters & Dwnspts. metal-part Sump Pump no Walls d all /brck Floor ❑ Usting/Proposed exist Window Type double hung Dampness no Floor car et1conc None ❑ Age (Yrs.) 98 Storm/Screens combo Settlement no i Outside Entry es Unknow Effective A e (Y rs.) 10 Manufactured House no Infestation none noted ROOMS Foy I Livino Den Family Rm. Rec, Rm. Bedrooms #Ba Laund ry er Area S . Ft. ° Basement 1 290 Level 1 1 1 1 1 2 1 1,409 ° Level 4 .5 928 Finished area above grade contains: 8 Rooms: 4 Bedrooms • 2.5 Baths • 2 337 S are Feet of Gross Livinq Area INTERIOR Matedals/Condition HEATING KITCHEN EQUIP. ATTIC AMENITIES CAR STORAGE: ° Floors carpet/wdlg Type FA Refrigerator ® None ❑ Rreplace(s) # ❑ None ❑ Walls drywall/plaster/ Fuel gas Range/Oven ® Stairs ❑ Patio ❑ Garage # of cars Trim/Finish wood/ d Condition qd Disposal ❑ Drop Stair ❑ Deck ❑ Attached 1 + car Bath Floor wood) d COOLING Dishwasher ❑ Scuttle ® Porch 2 wood ® Detached Bath Wainscot fiber lass / d Central Yes Fan/Hood ❑ Floor ❑ Fence wood ® Built-In Doors hollow core/ Other I Microwave ❑ Heated ❑ Pool ❑ Carport anel /av - d Condition I Washer/Dryer Finished Drivewa single Additional features (special energy efficient items, etc,): Wood burner in kitchen 7 ceiling fans built -in in one 2nd level bedroom. 9'x 9' covered p orch, 7' x 19 covered porch, 9'x 9' balcony, wood fenced front yard. 38'x 46' barn 16' x 32' garage. Condition of the improvements, depreciation (physical, functional, and extemal), repairs needed, quality of construction, remodelingladdifions, etc.: No economic or functional depreciation noted. Physical depreciation is less than ical for this age of home. Quality of construction is good and includes i original wood. Overall maintenance appears good, Home is modern and no repair items are noted. The home has been extensivel - ated and remodeled over the past several years. Home and outbuildings appear well maintained. Adverse environmental conditions (such as, but not limited to, hazardous wastes, toxic substances, etc.) present in the Improvements, on the site, or in the immediate vicinity of the subject property,: No evidence of adverse environmental conditions on pro or In the immediate area. Freddie Mac Form 70 6/93 rAUe t Ur z a„ Form UA2 — for Windows appraisal software by a Is mode, inc. —1- 800- ALAMODE n Wef1Q11A nceli Viull APPRAISAL REPORT FIIe No. 3987 I atlQn Section --- $ 120,000 Comments on Cost Approach (such as, source of cost estimate, ESTIMATED SITE VALUE .............._ ............................. . = ESTIMATED REPRODUCTION COST- NEW -OF IMPROVEMENTS: square foot calculation and for HUD, VA and FmHA, the estimate Dwelling 2.337 Sq. R. @$ 66.41 = $ 159,874 drmaln! economic life of the property): See attached sketch for S 978 Sq. R. @$ 11.50 = 11,247 calculations Personal property is noted but exclude fin orches fence a Nance = 12,500 final value. Ph sical de reciation is estimated at 16 a raisal conforms to U.S.P.A.P. Use of Marshall Garage/Carport 309 Sq. R. @$ 20.40 = 6 304 Handbook Remainin econ. life estimate =45 -50 e. 'stimated Cost New = $ 189,925 value is estimated based on most current sales. Site ............................. Physical Functional Eternal improvements Include value of outbuildings Depreciation 30,3841 1 =$ - 30 384 Depreciated Value of Improvements .. ............................... =$ 159 541 "As -is' Value of Site Improvements ... .......... ..................... _$ 22 000 INDICATED VALUE BY COST APPROACH ............................ = 301,541 I SUBJECT COMPARABLE NO. I COMPARABLE NO, 2 COMPARABLE NO.3 ITEM 925 Grant Street 1208 Pinewood 3384 CR 19 1034 20th Ave Circle Address Blair Blair Kennard Blair Proximity to Sub ect ` 1,25 miles 12 miles 1 25 mile ''t i t 319 000 250 000 f 3 'M L 222 000 Sales Price n/a 103.67 4r Y 88.03 Prig Gross Livin Area Data and/or court house court house MhouseT,0, Verification Source Ins ection Ins ection ins ection DESCRIPTION + - $ Ad ust. - $ Ad ust. DESCRIPTION + - $ Ad ust. VALUE ADJUSTMENTS DESCRIPTION A� T7777 O SLC O -SLC i Sales or Financing Concessions conv contract conv Date of Sal ime 6 -13 -03 3 -13 -03 11 -02 Location Blaidav Blair/superior -10,000 rural /inf +40 Blair/av Leasehold/Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple +55 000 Site 8.6 acres 1.76 acres +50,000 10,06 acres .24 acre View residenUal /av residential /av rural/avg residentiallav Desi n and Appeal 2 story/q story/q 2 sto / d 2 storylgd 2 sto / d Quality of Construction steel/ d wood brickN. qd -20,000 wood/ d vin l/ d 10 000 Age 98 E 10 7 E 2 -10,000 82 E 25 8125 Condition good good av +15,000 good Total I Bdrms Baths Total Bdrms Baths Total Bdrms I Baths Total I Bdrms Baths Above Grade Room Count 8 4 1 2.5 7 4 2.5 7 1 4 2 1 +1,000 8 4 2.5 t Gross Living Area 2,337 Sq. R. 3,071 S . R. -18,400 2,309 Sq. Ft. +800 2,522 Sq. Ft. -4,600 Basement& Finished 978 -290 fin 1586 SF -3,000 1,092 -980 fin 1,430 SF -3,100 - Rooms Below Grade FR no finish +1 FR RR -2,000 no finish +1,000 Functional Utility averse averse averse average FA/CA Heatin Coolin FA/CA FA/CA FA/CA Ener Efficient ical ical t ical t ical Ca ort 1 att - 2 det 3 attached 2 detached +2 000 3 attached Patio, Deck porches porch, FP porch porch, deck Fire laces etc. atio -2,000 +500 FP 3 000 Fence Pool etc. fence,outbldg cid landscaping +2,000 fence shed fence +2,000 appliances appliances a liances appliances Net Ad'. total 4 t t , + - 10 400 + 57 300 + 37 300 5' t e229� Net168 t t�r� Adjusted Sales Price p k� f�'1 Net3'.k% * � = 15,% 308 600 > +Gross) 24,5 % 307 300 Gross 35 y�% 259,300 of Com arable at 1 . t r» Gross Comments on Sales Comparison (including the subject property's compatibility to the neighborhood, etc.): As is typical for this type of in town acreage there are few similar comps available. Several adiustments were needed the largest being for lot size on all sales. The sub ect p ro p erty, land value is significant based on its location and size. Bracketing of value and GLA was achieved. Sale 3 is most similar in locational A typical number of total ad ustments were needed several of which were large, The foregoing sales are not ideal but the best appeal. All have close adlusted range and nearly a ual weight was placed on all sale. available. a relative ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE N0.3 Date, Price and Data sold no previous sale no previous sales no previous sale Source, for prior sales 9 -5 -02 public records public records public records within Year of appraisal $267,000 closed closed closed Analysis of any current agreement of sale, option, or listing of subject property and analysis of any prior sales of subject and comparables within one year of the date of appraisal: The sub ect is presently not for sale and the sub ect sold privately for $267,000 9 -5 -02. Note a personal inspection was made of all sales. INDICATED VALUE BY SALES COMPARISON APPROACH ................................................................. ............................... $ 300 INDICATED VALUE BY INCOME APPROACH if Iicable Estimated Market Rent Mo. x Gross Rent Multiplier = n/a This appraisal is made N 'as iV subject to the repairs, alterations, inspections or conditions listed below LJ subject to completion per plans & specifications. Conditions of Appraisal: The sub ect market is steady with few homes presently for sale. Various financing methods have no effect on sale prices or values indicated. Sub'ect is in good market condition. Final Reconciliation: The primary Indicator of value is the market approach. The cost approach is used as a guide and supports the market value but actual sales best represent value for this type of home in Blair. The income approach is not applicable as most homes like the sub ect are owner occupied. the real that is the subject of this report, based on the above conditions and the certification, contingent The purpose of this appraisal is to estimate the market value of property and limiting conditions, and market value definition that are stated in the attached Freddie Mac Form 439/FNMA form 10048 (Revised 6/93 ) , I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF 11 -10 -03 o (WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF T IS REPORT) TO BE $ 300.000 APPRAISER: SUPERVISORY APPRAISER (ONLY IF REQUIRED): lire Signature [I Did El Did Not Russ Nelsen Cart ppraiser Name Inspect Property Date Report Signed 11 -10 -03 Date Report Signed State Certification # CG 920 276 State NE State Certification # State Or State License # State Or State License # State E� ;. &Ann roan 1MA R -01 Freddie Mac Form 70 6/93 rnu< < yr c. Form UA2 - 'TOTAL for Windows appraisal software by a la mode, Inc. -1- 800- ALAMODE UNIFORM RESIDENTIAL APPRAISAL REPORT MARKET DATA ANALYSIS Var ' k e recen, sales o pro et re action to those rable than, the subject , able than, the subject ITEM 925 Grant Address Blair Proximity to Subject Sales Price Pd Gross Livin Area Data and(or Verification Sources VALUE ADJUSTMENTS Sales or financing Concessions erties are mos s mi ar an i�ems of significant variatign property, a minus (•) adjustment property, a plus ( +) adjustment SUBJECT Street n/a lb Inspection DESCRIPTION =' = pro>umate o su jec an ave b een consi between the sub act an comp arable,propert is made, t{tus reducing the Indicated is made, thus increasin g the indicated COMPARABLE NO. 4 1857 Kameo Drive Fort Calhoun 12 miles r,+ c? 385 000 143.501 court house inspection DESCRIPTION + — $ Adjust. O -SLC conv ere n e ma ana ysis, a esc ption me udes a dollar adjustment, retlecting es. If a significant item in the comparable properly Is supengr to, or mare value of the subject If a significant dem in the comparable is Inferior to, or less value of the subject. COMPARABLE NO. 5 COMPARABLE NO. 6 r . "') dt ihx hr 'sY' f DESCRIPTION + — $ Ad'ust. DESCRIPTION Adjust. Date of Sale/Time♦ -* r- . 3 -22 -03 Location Leasehold/Fee Simple Site View Blair /av Fee Sim le 8.6 acres residential /av rural/superior -10,000 Fee Simple 3,22 acres +40,000 residential /av Design and Appeal 2 sto / d 2 sto I d Quality of Construction steel/ d wood /excellent -30,000 Ae 98E10 4E2 -15000 Condition Above Grade Room Count Gross Living Area ood Total IBd sl Baths 8 : 4, : 2.5 c iood Total IBdrms: Baths 8 I 3 1 2.75 -500 2,683 So. Ft. -8,700 Total �Bdrms� Baths I S . Ft. I Total IBdrms� Baths I ' S . Ft. 2 337 S . Ft. Basement & Finished Rooms Below Grade 978 -290 fin FR 1,320 -1,100 fin j - 2,500 FR BR Ba d - 15,000 Functional Utility Heatin Coolin average FA/CA avera e FA/CA EnerQv Efficient Items icai tvplcal Gara Ca art 1 aft - 2 det 4 aft 3 det 15 000 Porch, Patio, Deck, Flre laces etc. porches SS,FP,porch Iq deck -6,000 Fence Pool etc. d'. total red Sales Price of Comparable fence,outbldq appliances qd landscaping +2 000 app liances + — t a� u % 3Gro t -$ � + 60 700 Nets, :a %�� 3 ' Arms 324 300 + `� �N ` a r , Gross .� Date, Price and Data Date, Source for prior sales within year of app sal sold 9 -5 -02 $267,000 no previous sales public records closed Comments: Market Data Analysis 6 -93 Form UA2,(AC) — 'TOTAL for Windows' appraisal software by a la mode, Inc. —1. 800- ALAMODE File No. 3987 Page #5 PHOTOGRAPH ADDENDUM Borrower Client Kevin Wehrli Property Address 925 Grant Street CitV Blair County Washington State NE Zip Code 68008 Lender Mortgage Express Garage Shed Form LPIC3X5 — "TOTAL for Windows" appraisal software by a la mode, inc. —1- 800 - ALAMODE File No. 39871 Pa a #4 PHOTOGRAPH ADDENDUM Borrower Client Kevin Wehrli Propeny Address 925 Grant Street city Blair County Washington State NE Zip Code 68008 Lender Mortgage Express Front Back Form LPIC3X5 — "TOTAL for Windows" appraisal software by a la mode, inc. —1- 800- ALAMODE _ 1 1 Borrower /Client Property Address City County State Zip Code ender T k 4: 1 IT L ZL 44 L y f j t _i Q^ y —4 A 44 _ 11 1 1 1 y- i _ �,.. `f IT r- - - - ;'- - �.. t � _.. — j + _ - � - . -� -J- - I -- 1_ `--� ��' . �+ �- � i • '� t - _ _ 7 • — r --+- 1. k, i - � I -- - "� _ �. - t__� - "-�- r .. _ -- t�t � —, �� _ � � •I _ - - {_+ � I 1 - - � -�- - - {- T � T 1 j 'i"T i _� _ � t - I r te-- Y "- - �- - II - T LEGEND .: Population Center O Slate Route Cl Geo Feature 4 Town, Small City p Large City q Park Interstate, Turnpike OS Highway County Boundary Major Street /Rood �-� State Route Interstate Highway 11S Highway Airfield Scale 1:250,000 tat center) 5 Miles`�� 1 5 KM-----i ) = Land Mass ME Open Water fe— Meg 11.00 Mon Jul 1.1 11:40:35 1994 Acres ^ e- .S O, e-s ) , � | ! f \ � , a 2 o ck ^ " ;. 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PIN a �. 2M 202 y 203 203 v 1064 1 c)60 245 6 w 7177 777,7-77-- 061 1007 r a 1007 N S�b1e z} } t r= 410 Ai, 4 R h supplemental addendum 8 rr wer II nt Prope Address CRY C n t DD Code Lender PURPOSE OF THE APPRAISAL The purpose of this appraisal Is to provide an opinion of market value to the subject property as defined in this report on behalf of the referenced client as the intended user. SCOPE OF WORK The scope of work (as defined In USPAP) is the amount and type of information researched and the analysis applied in an assignment. Scope of work includes, but is not limited to, the following: a. `the degree to which the property Is Inspected or identified; b. the extent of research into physical or economic factors that could affect the property; c. the extent of data research; and d, the type and extent of analysis applied to arrive at opinions or conclusions. The amount and type of Information researched and the analysis applied In this assignment conforms with the expectations of participants In this market for the same or similar appraisal services and is what the appraiser's peer's actions would be in performing the same or a- similar assignment in compliance with the Uniform Standards of Professional Appraisal Practice. This appraisal Is based on the Information gathered by the appraiser from public records, other Identified sources, inspection of the subject property and neighborhood, and section of comparable soles, listings, and /or rentals within the subject market area. The source and data are-considered to be reliable. The extent of the analysis applied to this assignment may be further Imparted within the report, the Appraiser's Certification below and /or other Statement of Limiting Conditions and Appraiser's Certification such as may be utilized within the Freddie Mac form 439 or Fannie Mae form 1006b (dated 6/93) when applicable. The data and Information collected, verified and analyzed In this appraisal Is considered to be all Information necessary to solve the problem in.ihe assignment. The methods and techniques employed to develop problem - solution indicators in the analysis of data and Information is considered to be sufficient to develop a credible opinion of value. USPAP mandates that each written appraisal report must contain a signed certification that requires each appraiser to certify that he or she has or has not made a personal Inspection of the property. The extent and depth of the inspection process vary with -the type of property appraised and the conditions of the appraisal. For the purpose of this assignment a full exterior and or Interior. inspection of the property and improvements was completed and that the. performed Inspection is considered to be sufficient to satisfy all of the requirements of the applicable standards rules. RECONCILIATION OF THE QUALITY AND QUANTITY OF THE INFORMATION ANALYZED: Although no appraisal conclusion is guaranteed, USPAP allows'for different levels of reliability in real property appraisals. This appraisal Is the highest level of reliability as It does not invoke the Departure Rule and is a Complete Appraisal. Although the level of reliability may vary, the degree of credibility may not. The appraiser must take into account the quality and quantity of the data and Information available and the applicability and suitability of the analysis completed. The objective of the reconciliation process is to reach final opinions and conclusions that are, credible. MULTI - PURPOSE SUPPLEMENTAL ADDENDUM FOR FEDERALLY RELATED TRANSACTIONS It ,.., A- ...meet ee iA Ire Mme Borrower /Client Property Address C Coun State v Code Lender This Mutd- Purpose Supplemental Addendum for Federally Related Transactions was designed to provide the appraiser with a convenient way to comply with the current appraisal standards and requirements of the Federal Deposit Insurance Corporation (FDIC), the office of the Comptroller of Currency (OCC), The Office of Thrift Supervlsidn (OTS), the Resolution Trust Corporation (RTC), and the Federal Reserve. This Multi- Purpose Supplemental Addendum Is for use with any appraisal. Only those I L___ statements which have bee checked by the appr aiser apply to the property being appraised. __ — __ ® PURPOSE & FUNCTION OF APPRAISAL The purpose of the appraisal is to estimate the market value of the subject property as dented herein. The function of the appraisal Is to assist the above -named Lender in evaluating the subject property for lending purposes. This is a Federally related transactlon, ® EXTENT OF APPRAISAL PROCESS ® The appraisal is based on the Information gathered by the appraiser from public records, other Identified sources, inspection of the subject property and The original source of the comparables is shown in the Data Source section neighborhood, and selection of comparable sales within the subject market area. of the market grid along with the source of confirmation, If available. The original source Is presented first The sources and data are considered reliable. When conflicting Information was provided, the source deemed most reliable has been used. Data believed to be unreliable was not Included in the report nor used as a basis for the value conclusion. ®' The Reproduction Cost is based on Marshall and Swift Cost Handbook supplemented by the appralsees knowledge of the local market ® Physical depreciation is based on the estimated effective age of the subject property. Functional and/or external depreciation, fl present, I$ specifically addressed in the appraisal report or other addenda. In estimating the she value, the appraiser has relied on personal knowledge of the local markeL This knowledge is based on prior and/or current analysis of site sales and/or abstraction of site values from sales of Improved properties. The subject property is located in an area of primarily owner - occupied single family residences and the Income Approach Is not considered to be meaningful. For this reason, the Income Approach was not used. ❑ The Estimated Market Rent and Gross Rent Multiplier utilized in the Income Approach are based on the appralser's knowledge of the subject market area. The rental knowledge Is based on prior and/or current rental rate surveys of residential properties, The Gross Rent Multiplier Is based on prior and/or current analysis of prices and market rates for residential properties. ❑ For Income producing properties, actual rents; vacancies and expenses have been reported and analyzed. They have been used to project future rents, vacancies and expenses. ® SUBJECT PROPERTY OFFERING INFORMATION According to the subject property: ❑ has not been offered for We in the past ❑ 30 days 111 year ❑ 3 years. ❑ is currenOv offered for sale for $ ❑ was offered for sale within the past D 30 days ❑ 1 year ❑ 3 years for S ❑ offering information was considered In the final reconciliation of value. [� offering Information was not considered in the final reconciliation of value. ❑ Offering Information was not available The reasons for unavailability and the steps taken by the appralser. are explained later In this addendum. ® SALES HISTORY OF SUBJECT PROPERTY According to Public Record the subject property, ® has not transferred in the past twelve months. ❑ has not transferred in the past thirty -sbr mmonths. ❑ hali.Wgmd In the past twelve months. ❑ has trarIsfored In the past thirty -sk months. ❑ All prior sales which have occurred In the past twelve months are listed below and reconciled to the appraised value, either in the body of the report or In the addenda. Date Sales Price Document # Seller Buyer —v -:2_6 ® U rho ® FEMA FLOOD HAZARD DATA D Subject property Ic not to .at .d in a FEMA Special Flood Hazard Area, ❑ Subject property Is Mated in a FEMA Special Flood Hazard Area. Zone FEMA Map/Panel # Map Date Name of Community ❑ The community dries not gar8cioate in the National food Insurance program. ❑ The community does cleats In the National Flood Insurance Program, ❑ It Is covered by a mu ar program. ❑ It is covered by an ememencv program. ` Page 1 of 2 Form MPA2 — TOTAL for Windows appraisal software by a la mode, Inc. — 1- 800•AL.AMODE ® CURRENT SALES CONTRACT The subject property is cilrr "t not under contract 171 The contract and/or escrow instructions were not avallable for review The unavailability of the contract Is explained later In the addenda section. ❑ The contract and/or escrow Instructions W%LMdMW. The following summarizes the contract: Date Amendment Date Contract Price Seller ❑ The contract indicated that personal property was not includ Itcon sled ❑ The contract Indicated that personal property was Included of Estimated contributory value is $ ® Personal property wad npt Included In the final value estimate. ❑ Personal property was included In the final value estimate. ❑ The contract Indicated nn flnancinan sg,clons other incentives. ❑ The contract Indicated the folayd concessions or incentives: ❑ U concessions or incentives 0" the comparabies were checked for similar concessions and appropriate adjustments were made, if applicable, so that the final value conclusion is in compliance with the Market Value defined herein. ® MARKET OVERVIEW Include anexpianailonof current market conditions and trends. 1 -3 months is considered a reasonable marketing period for the subject property based on the local real estate market ® ADDITIONAL CERTIFICATION The Appraiser certifies and agrees that (1)' The analyses, opinions and conclusions were developed, and this report was prepared, In conformity with the Uniform Standards of Professional Appraisal Practice ('USPAP7, except that the Departure Provision of tits USPAP does not apply. (2) Their compensation Is not contingent upon the reporting of predetermined value or direction In value that favors the cause of the client, the amount of the value estimate, the attainment of a stipulated result, or the occurrence of a subsequent event. (3) This appraisal assignment was not based on a requested minimum valuatlon, a specific valuation, or the approval of a loan. ® ADDITIONAL (ENVIRONMENTAL) LIMITING CONDITIONS The value estimated Is based on the assumption that the property is not negatively affected by the existence of hazardous substances or detrimental environmental conditions environmental conditions u appralsse otherwise routine stated Inspecti o of and Inquides about the In the property did not op any information that detrimental that Ind cated any apparent significant hazardous substances or dehimenw environmental conditions which would affect the property negatively unless otherwise stated In this report it is possible that tests and inspections made by a qualified hazardous substance and environmental expert would reveal the existence of hazardous substances or detrimental environmental conditions on or around the property that would negatively affect its value, ® ADDITIONAL COMM APPRAISER'S SIGNATURE & L ICENSE/CERTIFICATION Appraiser's Signature Effective Date 1/^ /d" 4-.? Date Prepared /,/—,/ a ` 03 Appraisers Name (print) uss Nelsen, cert. appraiser Phone # (402) 426 -8020 State NE ❑ License ® Certification # CG 920 276 Tax ID # 47.0738888 ❑ CO- SIGNING APPRAISER'S CE RTIFICATION ❑ The co-signing appraiser has ggrsonalN inspected the subject property, both Inside and out, and has made an exterior inspection of all comparable sales listed in the report The report was prepared by the appraiser under direct supervision of the co- signing appraiser. The co- signing appraiser accepts responsibility for the contents of the report Including the value conclusions and the limiting conditions, and confirms that the certifications apply fusty to the co-signing appraiser. ❑ The co-signing appraiser his not person y I_napggted the Interior of the subject property and; ED has not inspected the exterior of the subject property and all comparable sales listed In the report ❑ has inspected the exterior of the subject properly and all comparable sales listed in the report ❑ The report was prepared by the appraiser under direct supervision of the co-signing appraiser. The co-signing appraiser ac �pts responsibility the col sfgning the contents of the report, Including the value conclusions and the limiting conditions, and confirms that the certifications apply N appraiser with the exception of the certification regarding physical Inspections. The above describes the level of Inspection performed by the co-signing appraiser. ❑ The co- signing appraiser's level of inspection, Involvement In the appraisal process and certffieabon are covered elsewhere In the addenda section of this appraisal. ] CO- SIGNING APPRAISER'S S I G NATURE & LICENSE/CERTIFICATION Co- Sioning Effective Date Date Prepared Apprraaliss es Signature Phone # ( 1 Co- Signing Appraisers Name (print) Tau 10 # State F License ❑ Certification # Page 2 of 2 Form MPA2 — `TOTAL for Windows" appraisal software by a 13 mode, Inc. — 1.800•ALAMODE Borrower File No. Property Add city County 4 Do Cod Lender APPRAISAL AND .REPORT IDENTIFICATION This appraisal conforms to m of the following definrdons: ® Complete Appraisal (rho actor process of estimating value, or an opinion of value, performed without Invoking the Departure Rule.) ❑ Limited Appraisal (the act or process of estimating value, or an opinion of value, performed under and resulting from Invoking the Departure Rule.) This report Is M of the following types: ❑ Self Contained (A written report prepared under Standards Rule 2 -2(a) of a Complete or Limited Appraisal performed under STANDARD 1.) ® Summary (A written report prepared under Standards Rule 2 -2(b) of a Complete or Limited Appraisal performed under STANDARD 1.) ❑ Restricted (A written report prepared under Standards Rule 2.2(c) of a Complete or Limited Appraisal performed under STANDARD 1 for client use only.) Comments on Standards Rule 2 -3 I certily that, to the best of my knowledge and belief: - The statements of fact contained In this reportare true and correct - The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, Impartial, and unbiased professional analyses, opinions and conclusions. - I have no (or the specI1114 present or prospective interest In the property that is the subject of this report, and no (or the specified) personal Interest with respect to the parties Involved. - I have no blas with respect to the property that Is the subject of this report or the parties Involved with this assignment. - My engagement In this assignment was not contingent upon developing or reporting predetermined results. - My compensation for completing this assignment is not contingent upon the developmeit or reporting of a predetermined value or direction In value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the Intended use of this appraisal, - My analyses, opinions and conclusions were developed and this report has been prepared, In conformity with the uniform Standards of Professional Appraisal Practice. - I have (or have not) made a personal Inspection of the property that is the subject of this report - No one provided significant real property appraisal assistance to the person signing this certification. Of there are exceptions, the name of each individual providing significant real property appraisal assistance must be stated,) Comments on Appraisal and Report Identification Note any departures from Standards Rules 1- 3,14, plus any USPAP- related Issues requiting disclosure: APPRAISER: /�� Z - SUPERVISORY APPRAISER (only If required): Signature: to d/ Signature: Name. Russ L. Isen Name: Date Sig ned , Di' 1 ,71X1 3 Date Signed: State Certification #: CG 920 276 State Certification #: or State License #: or State License #: State: Nebraska State: Expiration Date of Certification or License: 12 -31 -02 Expiration Date of Cerdcatfon or License: ❑ Did ❑ Did Not Inspect Property Nelsen Appraisal Services, Inc. Russ Form ID3 — '70TAL for windows' appraisal software by a la mode, Inc. — I. 800- ALAMODE DEFINITION OF MARKET VALUE: The nostprobable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeablyand assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a We as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well Informed or well advised, and each acting in what he considers his own best Interest; (3) a reasonable time Is allowed for exposure in the open market; (4) payment is made in temrs of cash In U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the properlysoid unaffected by special or creative financing or sales concessions* granted by anyone associated with the sale. * Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are nominally paid by sellers as a result of tradition or law in a market area; these costs are readily Identifiable since the seller pays these costs In virtually all sales transactions, Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party insthutioM lender that is not already Involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraise's judgement STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraser's certification that appears In the appraisal report Is subject to the following conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to It The appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property Is appraised on the basis of it being under responsible ownership, 2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the Improvements and the sketch Is Included only to assist the reader of the report In visualizing the property and understanding the appraiser's determination of Its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted In the appraisal report whether the subject she Is located In an Identified Special Rood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear In court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand. 5. The appralser has estimated the value of the land In the cost approach at Its highest and best use and the Improvements at their contributory value. These separate valuations of the land and Improvements must not be used In conjunction with any other appraisal and are Invalid If they are so used. 6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence of hazardous wastes, toxic substances, etc.) observed during the Inspection of the subject property or that he or she became aware of during the normal research Involved In performing the appraisal. Unless otherwise stated In the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions Qncluding the presence of hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or Implied, regarding the condition of the property. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist Because the appraiser is not an expert In the field of environmental hazards, the appraisal report must not be considered as an environmental assessment of the property, 7. The appraiser obtained the Information, estimates, and opinions that were expressed In the appraisal report from sources that he or she considers to be reliable and believes them to be true and coned The appraiser does not assume responsibility for the accuracy of such hems that were fumished by other parties, 8. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice. 9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that completion of the Improvements will be performed in a workmanlike manner. 10. The appraiser must provide his or her prior written consent before the lender /client specified in the appraisal report can distribute the appraisal report Qncluding conclusions about the property value, the appraiser's Identity and professional designatio and references to any profossional appraisal organizations or the firm with which the appraiser Is associated) to anyone other than the borrower,, the mortgagee or its successors and assigns; the mortgage Insurer, consultants; professional appraisal organizations; any state or federally approved financial institution; or any department, agency, or instrumentality of the United Stales or any state or the District of Columbia; except that the lender /client may distribute the property description section of the report only to data collection or reporting service(s) without having to obtain the appralser s prior written consent. The appraisers written consent and approval must also be obtained before the appraisal can be conveyed by anyone to the public through advertising, public relations, news, sales, or other media. Freddie Mac Form 439 6.93 Page 1 of 2 Fannie Mae Forth 10048 6.93 Nelsen Appraisal Services Form ACR — `TOTAL 2000 for Windows' appraisal software by a la mode, Inc, — I.800•ALAMODE APPRAISER'S CERTIFICATION: The Appraisercer8ges and agrees that ' have researched the subject market area and have selected a mInInwm of three recent sales of properties most similar and prmdmats to the subject property onsideratiort in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the market reactIon.to those.items of significant variation. h a significant Item In a comparable property is supefkx to, or more favorable than, the subject property. I have made a negative adjustment to reduce the adjusted sales price of the comparable and, If a significant item In a comparable property Is Inferior to, or less favorable than the subject property, I have made a pos&o adjustment to Increase the adjusted sales price of the comparable. 2. 1 have taken Into consideration the factors that have an Impact on value my development of the estimate of market value In the appraise repoi4 I have not knowingly withheld any significant Information from the appraisal report and f believe, to the best of my knowledge, that all statements and Information In the appraisal report are true and correct 3. 1 stated In tho appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the contingent and Ilmlting conditions specified in this form. 4. 1 have no present or prose d" Interest In the property that is the subject to this report, and I have no present or prospective personal Interest or bias with respect to the participants In the transaction. I did not base, either partially or completely, my analysis and/or the estimals of market value In the appraisal report on the race, color, religion, sex, handicap, famigal status, or national origin of either the prospective owners or occupants of the subject properly or of the present owners or occupants of the properties In the vicinity of the subject property. 6. 1 have no present or contemplated future Interest In the subject property, and neither my current or future employment nor my compensation for performing this appraisal N contingent on the appraised value of the property. . 6. 1 was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the amountof the value estimate, the attainment of a specific result, or the occurrence of a subsequent eventln order to receive my compensation and/or employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation, a specific valuation, or the need to approve a specific mortgage loan. 7. 1 performed this appraisal In conformity withl a U&Omfl Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and thatwere'In place as of Nis effective data of arts appraisal, with the exception of the°departure provision of those Standards, which does not.appy: I acknowledge that an estimate of a reasonable time for exposure• In the open "market Is a condition in the definition of market value and the estimate I developed Is consistent with the marketing Urns noted In the neighborhood section of this report, unless I have otherwise stated in the reconciliation section. 8. 1 have personally Inspected the Interior and exterior areas of the subject properly and bodarior of 911 properties listed as comparables in the appraisal report I further cert y that I have noted any apparent or known-adverse conditions in the subject Improvements, on the subject site, or an any site within the Immediate Ncl**of tits subject property of which I am aware and have made adjustments for these adverse conditions In my analysis of ilia property value-to the elder that I , ad market evidence to support them. I have also commented about the effect of the adverse condit ons.on the marketability of the subject property. i personally prepared all conclusions and opinions about the real estate that were set forth In the appraisal report If I relied on significant professional assistance from any Individual or Individuals In performance of the appraisal or the preparation of the appraisal report, I have named such Indtidual(s) and discknsed the specific tasks performed by them In the reconciliation section of Gds appraisal report I certify that any Individual so named Is qualified to perform the tasks. I have not authorized anyone to make a change to any Item In the report; therefore, 8 an unauthorized change Is made to the appraisal report, I wig take no responsibility for it SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies and agrees that I directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report,.agree with the statements and conclusions of the appraiser, agree to be bound by the appraiser's certifications numbered 4 through 7 above, and am t tedng full responsibility for the appraisal and the appraisal report ADDRESS OF PROPERTY APPRAISED: / U22 SE l ? APPRAISER: Signature:. -- Name: Russ Ne son cart. s raiser Date Signed: / — / — State Certification #: CG 920 276 or State Ucense #: State: Ne Exp/ation Date of Certification or Ucense:. 1213112002 _ SUPERVISORY APPRAISER (only if required): Signature: Name: Date Signed: State Certification #: or State license #: State: Expiration Date of Certihcadon'or Ucense: ❑• Did ❑ Did Not Inspect Property Freddle Mac Form 439 6.93 Page 2 of 2 Fannie Mae form 10048 6.93 Form ACR — TOTAL for Windows' appraisal software by a la made, inc. — 1- 800•ALAMODE .` RUSS NELSEN RR' #2 Box 38 Blair, Nebraska 68008 (402) 426 -5828 - Home (402) 426 -8020 - Business PROFESSIONAL LICENSES Nebraska Appraiser's License, General Certification 11CG 920276 Iowa Appraiser's License, General Certification #5066422249 Nebraska Real Estate Broker License #801093 EDUCATION Dana College, Blair, Nebraska. Bachelor of Science in Business Administration, 1973. University of Nebraska at Omaha. Degree in Land Use Economics, 1979. Continuing Education (Broker and Appraisal), Nebraska Real Estate Commission. Various N.A.I.F.A., American Institute and S.R.A. seminars, including Uniform Standards of Professional Appraisal Practices. EXPERIENCE 1986 - Present Nelsen Appraisal Services, Inc. - President Appraisal area includes all of Nebraska and western Iowa. Am presently on HUD panel for Washington, Burt, Thurston, and Cuming Counties. Qualified as expert and furnished testimony in County and District Court. STAFF APPRAISER FOR: First Bank - Blair, Omaha, Nebraska Omaha Federal Credit Union - Blair, Nebraska Professional Mortgage Service - Plattsmouth, Nebraska Washington County Bank - Blair, Nebraska PARTIAL LIST OF OTHER CLIENTS: Arlington State Bank - Arlington, Nebraska American Family Financial Services - Omaha, Nebraska Bank of Elkhorn - Elkhorn, Nebraska Bell Federal Credit Union - Omaha, Nebraska Commercial Federal Savings & Loan - Omaha, Nebraska Conservative Savings Bank - Omaha, Nebraska C & W Railroad - Chicago, Illinois Douglas County Bank & Trust - Omaha, Nebraska Enterprise Bank - Omaha, Nebraska Farm Credit Services - Omaha, Nebraska First Mortgage Corp - Omaha, Nebraska First National Bank - Omaha, Nebraska First American Savings Bank - Omaha, Nebraska ATTORNEYS: Susan Anderson - Omaha, Nebraska Brown and Brown - Omaha, Nebraska Gregory Drew - Blair, Nebraska Tyler Gaines - Omaha, Nebraska William Gast - Omaha, Nebraska James Gotschall - Omaha, Nebraska Robert Hillis - Fremont, Nebraska STATES APPRAISED IN: First Bank - Blair, Omaha, Nebraska Fremont State Bank - Fremont, Nebraska Fort Calhoun State Bank -Fort Calhoun, Nebraska Lenders Service, Inc. - Pittsburgh, Pennsylvania Lincoln Federal Savings Bank - Fremont, Nebraska Norwest Bank - Omaha, Nebraska Omaha National Bank - Omaha, Nebraska Omaha State Bank - Omaha, Nebraska Omaha Public Power District - Omaha, Nebraska Onawa State Bank - Onawa Iowa Packers National Bank - Omaha, Nebraska State of Nebraska Union Bank & Trust - Lincoln, Nebraska Washington County Johnson and Mock - Blair, Nebraska Robert Mullin - Omaha, Nebraska Wyman Nelson - Blair, Nebraska John O'Hanlon - Blair, Nebraska John Samson - Blair, Nebraska Jon Sedlacek - Blair, Nebraska Patrick Tripp - Omaha, Nebraska Alabama, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Minnesota, Mississippi, Missouri, Nebraska CITY OF BLAIR, NEBRASKA Phone 402-426-4191 RECEIVE? OF: ADDRESS CITY, STATE, ZIP CODE iv' THANK YOU KEEP-TH.IS qOPY FOR L,�UR RECORDS. - 1 , D R E CEIVE D - Eff EMANUEL PRINTING. IRE-T, N E -5 P art of Tax Lol � and part of abandoned Chicago and r vi Northwestern Railroad right -of -way, lying in the W1/2 of the SE1 /4 of Section o \ p� I 12, T1 8N R11 E of the 6th Principal Meridian, Washington County, Nebraska. co LEGAL DESCRIPTION: GRAN ' ®� ' S NE Comer SE1 /4 SE1 /4 Part of Tax Lot 200 and part of the now abandoned Chicago and 12 -18 -11 z Q 1�,0• S7-� � Northwestern Railroad right -of -way, all lying in the W'/ of the SE% T223 Comer Falls in South Creek of Section 12, Township 18 North, Range 11 East of the 6th Principal SW Com NW1jSE1 /4 S 8223.23," o " L Meridian, Washington County, Nebraska and more particularly " — _ 5 10 5 E S 89 5 934 E 30.00 described as follows: NW Comer SW1 /4 SE1 /4 I S 0030 2624.23' � � Beginning at the Southwest comer of the NW/ of the SE /4 of Section 12 -18 -11 ( 0' 2" E _ _ — 12, Townshi p 18 North, Range 11 East; thence N 0 " 30 52 " W (assumed s s 2 I — — — bearing) along the westerly line of the NW /4 of the SE' /4 of said Section 12 a distance of 23.77 feet to a point on the southerly right -of -way line of �� I Grant Street, as said street is platted in the City of Blair, Nebraska; thence S 82 °51'05" E, along said southerly Grant Street right -of -way line, a I V - I distance of 60.54 feet to a point 60.00 feet easterly, as measured at right - — — — —��'— angles to said west lane of said NW% of the SE /4; thence departing said southerly Grant Street right -of -way line S 00 0 30'52" E, parallel to and 1 ( I 60.00 feet east of said west 1/4 1/4 section line, a distance of 16.24 feet to a point on the northerly line of the SW' /4 of the SE /4 of said Section 12, said tiQ�s�� s 1 9 I 10 I ( point being 60.00 feet easterly of the Northwest comer of said SW/ of the , 1 ( w SE%; thence S 00'19'38" E along aline 60.00 feet easterly, as N � � 100 0 1 00 Feet measured at right angles to the westerly line, of said SW' /4 of the SE' /4 a \ , I ° 7 � 0 Co r � distance of 605.11 feet to a point on the centerline of a now abandoned V) I Chicago and Northwestern Railroad line; thence N 43 °5731" W along o c LEGEND said now abandoned railroad centerline a distance of 86.95 feet to a point \ X3.0 m e on the westerly line of said SWY44 of the SE' /4; thence N 00 0 19'38" W cn SCALE: 1 INCH =100 FEET along said westerly 1/4 1/4 section line a distance of 542.53 feet to the Point COLFAX \ 6 STREET I T.L. 200 Q Subdivisional Comer Found of Beginning and containing 0.82 acres, more or less, of which 0.10 acre is ( in now abandoned railroad property I Q 1/2" Rebar Found — — -T O�� a -- — --� 0 5� I C1 ' \�C I 5/S" Open -top Pipe Found SURVEYOR'S CERTIFICATION: I /j, �� I G ( E] 3/4" Pinched -top Pipe I hereby certify that the survey shown and described hereon 3 k Lo e 2 \ ,q a `'�, j I * Star- drilled Hole Found was made under my direct supervision and that I am a duly \ No Registered Land Surveyor under the laws of the State of V11 - C) 4j � 5/8° x 24" Rebar With Plastic Nebraska. Z\1 1 q: \ I Cap Stamped LS-382 Set G ~ 60.00' I Q Computed Comer (Not Set) �G I Richard L. Hansen tutrr�t�uii, n I (P) Platted Distance \`\�`�t 1,AND ' "N Registered Land Surveyor \\��.�� • ... SG Registration No. LS -382 7 8 ( 9 I to I dy, �Q (C) Computed Distance pate: January 20, 2004 1 Z� \ Client: City of Blair ; u7: RICHARD LEE i0� 60.0'(P) I 114.6• �, I /''/ Job No.: 03-163 :.;V LS-382 �� ,I. 59.58' 60.16' 60.0'(C \V"�� ' � • ,,� •' �.�� N 89 0 54'56" E 6 �quu 120.01' �Q G CITY COUNCIL APPROVAL: SOUTH 120.0'(P) STREET' _ \ ®p � sow I This Street pi \ , /�� D edication as shown and described hereon was 0 / approved and accepted by the City Council of the City V- of Blair, Nebraska, on this day of A.D., 2004. 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