HomeMy WebLinkAboutPeterson, Larry
12-18-95
To: Planning & Zoning Commission and
City of Meridian, Mayor and Council
Honorable Commission Members and Mayor and City Council Members
Please be aware that I live on 36 acres at 3365 No. Ten Mile,
Meridian, Idaho. I am currently planning to sell or subdivide
part of said property. Your comprehensive plan has my property
designated as possible park property for the future. I am
requesting that this designation be removed so that I may
continue with other plans for the future of my property.
Since the comprehensive plan was adopted I believe the
City has purchased park property 2 miles East of me and
therefore possibly removing the need for park designation here.
If the City does indeed have an interest in my property, may
I suggest that discussions proceed on the issue.
Please consider this during your earliest convenience
and planning and zoning meetings.
Sincerely yours,
~~
arry K. Peterson
3365 No. Ten Mile
Meridian, Id. 83642
Enclosure:
cc Shari Stiles, planning director
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WILLIAM G. BERG, JR., City Clerk
JANICE L. GASS, City Treasurer
GARY D. SMITH, P.E., City Engineer
BRUCE D. STUART, Water Works Supt.
JOHN T. SHAWCROFT, Waste Water Supt.
DENNIS J. SUMMERS, Parks Supt.
SHARI L. STILES, P & Z Administrator
PATNA. WOLFKIEL, DMV Supervisor
KENNETH W. BOWERS, Fire Chief
W.L. "BILL" GORDON, Police Chief
WAYNE G. CROOKSTON, JR., Attorney
April 8, 1996
HUB OF TREASURE VALLEY
A Good Place to Live
CITY OF MERIDIAN
33 EAST IDAHO
MERIDIAN, IDAHO 83642
Phone (208) 888-4433 • FAX (208) 887-4813
Public WorksBuilding Department (208) 887-2211
Motor Vehicle/Drivers License (208) 888-4443
ROBERT D. CORR)E
Mayor
To: Mayor Corrie and the Meridian City Council
RE: Proposed purchase of properties located at 3365 N. Ten Mile Rd.
Dear Mayor and Council,
r•.OUNGIL MEMBERS
WALT W. MORROW, President
RONALD R. TOLSMA
CHARLES M. ROUNTREE
GLENN R. BENTLEY
P & Z COMMISSION
JIM JOHNSON, Chairmen
TIM HEPPER
JIM SHEARER
GREG OSLUND
MALCOLM MACCOY
The fore mentioned property consists of 36 acres of farm ground located on the northwest corner
of the intersection of Ustick and Ten Mile Roads. The historical use of this property has been as
farm ground. The historical use of the property has for the last few years also doubled as a buffer
zone between the Meridian Wastewater Plant and residential subdivisions. The current owner,
Larry Peterson, wishes to sell 15-20 acres of his land. He has indicated to the City that a
developer wishes to purchase the property for the construction of residential dwellings. Since the
City is opposed to this use due to the present zoning status and the close proximity of the
wastewater facility, Mr. Peterson has offered to sell to the City. The appraisal, obtained by Mr.
Peterson at the City's request, indicates the property is worth $20,000 per acre at the current
market value. This evaluation is approximate and not necessarily the true market value.
I am in favor of obtaining the property for Wastewater Department use. The land would serve
not only as a buffer between the wastewater plant and residential areas, but also as a site for the
land application of sewage sludge. Currently, our sewage sludge is land applied to privately
owned farm ground whenever possible. During periods of wet weather and times when the
farmers are either growing or harvesting crops, these properties become unavailable to us. We
then spread sludge on the City owned property surrounding the treatment plant. In order to
comply with state and federal sludge application regulations, the City's property is farmed.
However, this land will soon be needed for the construction of new sewage treatment units. The
Peterson property would therefore replace the land used to expand the treatment plant. After the
wastewater plant has been expanded and an alternate method of sludge disposal implemented, the
property could then be converted into a public park or used in another manner consistent with the
needs of the City,
The acquisition of this property would also make the Wastewater Treatment Plant contiguous
with the city limits and allow for annexation. The annexation of the Wastewater Plant would
eliminate the necessity of obtaining a conditional use permit from Ada County whenever plant
expansions take place.
Based on the desirability of obtaining the acreage and the need to conserve funds required for
plant expansion, the following scenarios are advanced for consideration:
1. Purchase the property at $20,000 per acre and pay Mr. Peterson over a 5-10 year span. This
option allows the City to keep the Enterprise Fund intact and available for its intended use.
2. Reappraise the property at the City's expense and evaluate the purchase based on this data.
The City runs the risk of getting a higher appraisal. The payment for the land would still be over
5-10 years.
3. Offer Mr. Peterson what the City feels is reasonable and negotiate a final price and payment
schedule. This saves time, is more direct, and involves all interested parties. Payment would
again be over 5-10 years.
4. Swap properties with Mr. Peterson for a location more suitable for residential use. Aland
trade for a portion of the future park area at Ustick and Meridian Roads. This would allow Mr.
Peterson to sell park side property to a developer. It would still allow for an area park, would
give Mr. Peterson $20,000 dollar/acre land for $20,000 dollar/acre land, while also lowering the
debt owed to the enterprise fund since the acquired land is for enterprise use. Under this scenario,
the park would be somewhat smaller, but would be easier to develop and maintain. The debt
repayment would also be shorter and less costly.
It is my recommendation that the property be obtained for use by the Wastewater Department. I
further recommend the City use scenario four, the land swap, if possible.
Sincerely,
c~/U!~ .
John T. Shawcroft
Wastewater Supt.
cc: Gary Smith, Meridian City Engineer
Shari Stiles, Meridian City Planner
A.J..Appraisal Services
1451 Hartman Street
Boise, Idaho 83704
INVOICE DATE REFERENCE'
APPRAISAL ;2113/96 L96027'4S
'INVOICE 2/13/96
LARRY PETERSON
3365 N 10 MILE RD.
' MERIDIAN, IDAHO 83642
DESCRIPTION -!
AMOUNT
3365 NORTH 10 MILE ROAD MERIDIAN, IDAHO 83642
36 ACRES WEST AND NORTH OF FARMSTEAD
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300.0
LAND APPRAISAL REPORT
Borrower OWNER - LA
Property Address 3365 N
City MERIDIAN
Legal Description SEE A D
Sale Price S
Actual Real Estate Taxes S 7
Lender/Cgent LARRY P E
Occupant VACANT
RY PETERSON Census Tract 0103.11 Map Reference HUNT D-
RTH 10 MILE ROAD
County ADA State IDAHO Zip Code 83642
run•
Date of Sale Loan Term yrs. Property Rights Appraised ®Fee ^ Leasehold ^ De Minimis
. 5 0 (yr) Loan charges in be paid by seller S 0 Other sales concessions 0
RSON Address 3365 N 10 MILE RD.
Appraiser TRAVIS STARK Instructions to Appraiser
Location ^ Urban ® Suburban ^ Rural
Built Up ^ Over 75% ^ 25% to 7546 ®Under 25%
Growth Rate ^ Fuly D ^ Rapid ®Steady ^ Sbw
Property Values ®Increasing ^ Stable ^ Decgning
Demand/Suppy ^ Shortage ®In Balance ^ Oversuppy
,Marketing Time ^Under 3 Mos. ®4-6 Mos. ^ Over 6 Mos.
Present Land Use 15% 1 Fa iy _% 2-4 Famiy _% Apts. _ % Condo
% Commercial
Indu trial 85% Vacant _% _
Change in Present Land Use ^ Not Likey ^ Likey (*) ®Takfng Place (*)
(*)From VACANT To RESIDENTIAL
Predominant Occupancy ®Owner ^ Tenant % Vacant
Singh Famiy Price Range S 9 0 to $ 145 Predominant Value S 125
Single Famiy Age NEW yrs. to __ 30+ yrs. Predominant Age 5 yrs.
Comments including those
SUBDIVISIONS T
THE S17E IS NE
Good Avg. Fair Poor
EmpbymentSfability ^ ®^ ^
Convenience to Empbyment ^ ®^ ^
Convenience b Shopping ^ ®^ ^
Convenience in Schools ^ ®^ ^
Adequacy of Pubec Transportation ^ ®^ ^
Recreational Facigties ^ ®^ ^
Adequacy of Utigties ^ ®^ ^
Property Compatibility ^ ®~) ^
Protection from Detrimental Conditions ^ ®^ ^
Police and Fre Protection ^ ®^ ^
General Appearance of Properties ^ ®^ ^
Appeai to Market ^ ®^ ^
favorable or unf.7. cable, affecting marketability (e.g. public parks, school, view, noise):TH E AREA I S BEING B U I
GHOUT. ~Iil_S IS A DESIRABLE AREA AS EVIDENCED BY NEW CONSTRUCTION AN
ERIDIAN AN.) PROVIDES ACCESS TO ALL. PARTS OF THE VALLEY.
Dimensions SEE PLAT I N ADDENDA 36 Sq. Ft or Acres ®Comerlot
Zoning classification RT RU RAL TRANS I1lON Presentlmprovements ®do ^donotconformtozoningregulations
Highest and best use ^P entuse ®Ogi~:, (specify) DEVELOPE TO RESIDENTIAL
Public Other ( ascribe) OFF SITE IMPROVEMENTS Topo RELATIVELY L E V E L
Elec. ® Streel;,:ecess ®Public ^Private Size LARGER THAN TYPICAL
Gas ® Sumac.!/1SPHALT Shape IRREGULAR
water ® Mainh:nance ®Public ^Private View DISTANT MOUNTAINS
San. Sewer ® ^ s ~+~rm Sewer ^ Curb/Gutter DrainageA P P E A R S A D E U A T E
^ Underground sect & Tel. ^ 5.. iewalk ^ Street Lights Is the property located in a HUD Identified Spsclal Flood Hazard Areal ^ No ®YeS
Comments (favorable or unfavorable I eluding any apparent adverse easements, encroachments, or other adverse condNions): THE N 0 RT H E AS T P 0 RT I 0 N I S I N A
SPECIAL FLOOD ZON ZONE AE? WITH THE FEDERAL EMERGENCY MANAGEMENT AGENCY WHICH RE UIRES FLOOD
INSURANCE. SEE M P IN ADDEiir)A. THE SITE IS IMMEDIATELY SOUTH ACROSS A CANAL FROM
THE
MERIDIAN CITY SEW R TREATMEPIf PLANT.
The undersigned has recited three recent sales of prol:srties most similar and proximate to subject and has considered these in the market anaysis. The descripton includes a dollar
adjustrnent reflecting market reac
t n to those items ~ ~~ significant variation between the subject and comparable propeiiies. If a significant item in the comparable properly is superior
o or more favorable than the subj t property, a miuu; (-) adjustment is made thus reducing the indicated value of subject; if a significant item in the comparable is inferior in or less
favorable than the subject prope , a plus (+) adjusbr~ent is made thus increasing the indicated value of the subject
ITEM SUBJE
Address. 3365 NORTH T PROPERTY
0 MILE R COMPARABLE N0.1
2375 TEN MILE N COMPARABLE N0.2 COMPARABLE N0.3 _
1830 PINE LN E 0 BLACK CAT
MERIDIAN MERIDIAN MERIDIAN MERIDIAN
Proximi m Sub act ~
........::::::::
::::::::::::::::::::::::::
.
0.2 5 MILE S
W
3.5 MILES SE
3 MILES SW
Sales Pri
ce
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30 000
. Data source INSPE CTION MLS E R
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Date of Sale and
Time Adjustment DES RIPTION DESCRIPTION + - $ Ad'ust DESCRIPTION + - $ Ad ust DESCRIPTION + - $ Ad'ust
8/10/94 COE ~ 4/20/95 COE ~ 1/15/96 COE
Location N MERIDIAN N MERIDIAN E MERIDIAN S MERIDIAN
SiteNiew 36 AC ES 45 ACRES ~ 15 ACRES 23 ACRES
TERRAIN LEVEL LEVEL ~ LEVEL ROLLING
ACCESS PUBLI /PAVED PUBLIC PUBLIC PUBLIC
UTILITIES ADJAC NT ADJACENT ADJACENT ADJACENT
SIZE LARGE AVG LARGER AVG ~ LARGER AVG LARGER AVG
Sales orFlnancing
Concessions 0 NONE NONE NONE
' KNOWN KNOWN KNOWN
Net Ad
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LAND APPRAISAL REPORT
MARKET DATA ANALYSIS
SUPPLEMENTAL ADDENDUM r,_.,_ ~ ~~„~,~~
Borrower/Crent OWNER - LARRY PETERSON
Pro a Address 3365 NORTH 10 M,'_LE ROAD
Ci MERIDIAN Coun ADA State IDAHO zi Code 83642
Lender LARRY PETERSON
NEIGHBORHOOD
The subject site is located in northwest Meridian. This area is being
developed with newer subdivisions. The area is in demand as evidenced by the
number of salesaof residential properties. There is a very limited number of
acreage properties that go on the market, therefore the number of comparable
sales is limited.
MARKET COMPARISON
The subject site is located across Ustick Road from newly developed
subdivisions. Utilities are along Ustick Road on the south and Ten Mile Road
on the east. The site is zoned RT Rural Transition which allows residential
development, however the site is zoned AE a special flood area with the
Federal Emergency Management Agency. This does not preclude development but
will require flood insurance.
The sales cited and compared to the subject have a wide range in per acre
values, which is typical of rural properties. The sales are smaller, near the
size and larger than the subject. There does not appear to be a relationship
of size to per acre price with the cited sales. There appears to be more of a
relationship of access, utilities, location and probability to being developed
to price. The subject would be in the upper portion of the value range
considering these criteria. The value indication per acre are E7,432, E8,010,
E10,000, E20,360, E21,111 and E28,564. Considering the sales available and
the amenities of the property, the vacant land located behind the dwelling at
3365 North Ten Mile Road is considered to have a value of E20,000 per acre or
E720,000. This value is reasonable considering the market evidence available.
According to Ada County records the total ownership is 38 acres including
dwelling and outbuildings. The property appraised is 36 acres excluding the
2 acre farmstead and structures.
Travis Stark
CGA-88
~~B/P-77799/DK P,64Lf'z, ~•~ GRANTEE HAS READ b APPROVED:
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FOR VALLE RE('EI~'ED, JOY.": ~5L?fENDl, EILEEN ASL.IEF:DI, ALL'F.RT AS(!"tEt:DI, and
MIP.EN STASHUK, Trustees for the ASL'`tEtiDI T.At;D 9RL'ST S-
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the Grantors , do hen:by grant, b:.: gain, yell and cum•ey unto s;
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LARRY K. PETERSON, an unmarried person ~~
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the Grantee ;whose address is 3365 \orth Ten Mile Road, Meridian, Idaho 83642 C~
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the following described premises, Lo•w•ir. ~;
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A parcel of land situated in Section 34, Township 4 forth, F.anee 1 I:est, C
Boise Meridian, P.da County, Idaho, more particularly described in E7:riIEIT "A" ;
attached hereto and made a part hereof by referance. ~,:
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Ada Caun!y, Ideho. is
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JOHN aAST~DA C_
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TO HAVE A!~ D TO HOLD the s:.id premises, :cith their algiurtenances unto the said Grantee S.:
his heirs :,nd a~slgns foret•er.:1nd the ::aid Grantors do ht•reby cotenant to
and with tl;•e said Grantee , tha; they are tht• nu•ncr it fee simple of said premises: that ~-"
said premises are free from all enc;;:::brances except : re::ervat ions ~f : eccrd, easer..ents of ~=•
record, general taxes and `_r:?cation assessr..ent:; for the ;ear 1986, and suhseouent %-
years, which are not yet cue and payable; ~=
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and that they will warrant aid defend the same from all lawful claims u•hatsoeter.
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Dated: July 21,. 1986 ~ . ::.
JOHti ASU"!EKDI EILEE`: ASL'`fE:~DI -
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ALBERT ASUIfE?:DL
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?!IRE\ STASHL'}:, Ey Jehn :aucendi
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her attorney in `act s„
ACK:~OWLEDGhIENT•Inditidual I aTLTE O:• I1 ~7, `'~".~"' `~: rJ-., ss.
STATE OF I DAl{O , Caun:y c! .DA , ss.
Onthis~t~~dayof ~~~ ~' ,in
the Fear of ~ 4A6 ,before me ' ce
undg}-Siened , a notary public.
personally appeared jTr•hn :: -er.di. Eilet.._
?cu:-endi end Alhe*r c -=-~i ,Known or
identifiedtometobethepereon~whosenames are
subscribed to the N•ithin instrument. and acl:noN•i;dRed w
me that .the ~' execuuted the sat :e.
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Notary Fublic: ~ ~~-~' -~-t <«
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- ~ PIONEEN TITLE COMPANY
OF ADA COUNTY
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EXH151T A
All that portion of the East 15 acres of the Southwest quarter of the Southeast
quarter and all that portion of the Southeast quarter of the Southeast quarter
of Section ?4, Township 4 J;orth, Rrnge 1 W=st, lyina South of tre South line
of the right of way for. Five Mile Grainaue Gitc~:; :>:C=~T :h~ fol~o..~ing two
c+escribeo Narcels:
PARCEL 1
That portion of said premises conveyed to the Uni*.ed States cf Fmerica es a
right of +~ay for Five Mile and Nine Mile Drams !referred to in r;,re recent
documents as Cight Mile Drain) by deed recorded as Instr:rient No. 52173
described as follows:
Beginning at a point on the south section pine, E1? feet
North 89'43' West of the Southeast corner ;,f said se,:ticr. ;;, tnentz
North 85'43' West 110 feet; thence
North 00'12' East 141.6 feet; thence
Korth 54'48' West, 718.4 foot; thence
North 14'4 g' West 125.9 .feet; thence
North A5'42' West 272.8 feet; thence
t,orth OG'1:' East 512.4 fee:; t-,=nce
I;or:h 80'31' East, 25Z.; feet; ti~en:e
South 86"52' East, 682.1 feel; the,u e
North 64'14' East. 213.9 feet; them e
South 89'49' East 362.6 feet; thence
South E4'45' East 262.0 feet; tne~ce
South 00'12' West 143.5 feet; ti~enc:
North 64'45' West 294.0 feet; thence
North 89'45' West, 303.8 feel; ;hence
South 64'14' West 277.3 feet; thence
North 86'5?' W:st 101.3 fee!; thence
South 80'31' West, 249.5 feet; :hen:e
South OC'12' West ?78.6 feet; then-e
South °9'42' East :'07.3 feet; thence
South 14'48' East 171.0 feet; them e
South 54'48' East, 735.6 feet; them e
South 00'12' West 198.8 feet to the PC1~1T 0= E~GIhI•It.G,
PARCEL II
That portion of the above describedi tract lying west of the Eight h;~i~
Drainaee Ditch (also snow: of record as Line -?'.ie :irzina?e Di::nj.
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SUBJECT
'~~N FIIaNo. L960274S
ILE ROAD
_ County ADA State IDAHO Zlu Code 83642
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SUBJECT
IIRAR__a/04 CIIR ~Cr+r ounrn oenr
---~~-~ . .ter vv rv rV^ ^ ^^V ^ V ^ ^7Y`
Borrower OWNER - LARRY PETERSON FIIeNo. L9602745
Pro a Address 3365 NORTH 10 MILE ROAD
C MERIDIAN Cou ADA State IDAHO ZI Code 83642
Lender LARRY PETERSON
Subject Front
Address 3365 NORTH 10 MILE
Sale Price
Gross Livin Area
Total Rooms
Total Bedrooms
Total Bathrooms
locatlon N MERIDIAN
View 36 ACRES
Site
llual
Ae
Subject Rear
Subject Street
PHOTOGRAPH ADDENDUM
Borrower/Client OWNER - LARRY PETERSON
Pro a Address 3365 NORTH 10 MILE ROAD
Ci MERIDIAN Coun ADA State IDAHO Zi Code 83642
tender LARRY PETERSON
SUBJECT
VIEW WESTERLY FROM
NORTH TEN MILE ROAD
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SUBJECT
VIEW SOUTHERLY TOWARD
USTICK ROAD
Borrower OWNER -LARRY PETERSON LOCATION MAP
Pro a Address 3365 NORTH 10 MILE ROAD
c MERIDIAN Cou ADA state IDAHO
lender LARRY PETERSON
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Address ble 7
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Prox. to Sub ect 0.2 5 MILE S W
Sales Price 21 111
Location N M E R I D I A N
Sft iew 45 ACRES
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Com ara
Address ble 2
18 3 0 PINE L N E
Prox. to Sub ect 3.5 MILES S E
Sales Price 2 0 3 6 0
location E M E R I D I A N
SiteNiew 15 ACRE S
Cnrtanarahla 3
Address 0 BLACK CAT
Prox. to Sub ect 3 M I L E S S W
Sales Price 10 0 0 0
location S M E R I D I A N
Sit iew 23 ACRES
LAND COMPARABLE PHOTO PAGE (4-6)
'Borrower OWNER - LARRY PETERSi)_id FIIeNo. L9602745
Property Address 3365 NORTH 10 MI_I_ [. ROAD
CRV MERIDIAN _ County ADA State IDAHO Zip Code 83642
lender LARRY PETERSON
Comparable 4
Address 5975 CINDER RD N
Prox. to sub ect 1.5 MILES N E
Sales Price 7 , 432
Location N M E R I D I A N
SiteNiew 74 ACRES
Comparable 5
Address 2 010 TEN MIL E
Prox. to Subect 4.5 MILES SOUTH
Sales Price 8 250
Location S M E R I D I A N
SiteNlew 20 ACRES
a
E4SW4
.5 MIL
8.564
E MERI
9.7 AC
DEFINITION OF MARKET VALUE: The most probable price which a properly should bring in a competitive and open market under aN conditions
requisite to a fair saki, the buyer and seller, each acting prudentty, knowledgeaby and assuming the price is not affected by undue stimulus. Implicit in this
definition is the consummation of a sale as of a specified dale and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are
rypicaly molNated; (2) both parties are well informed or well advised, and each acting in what he considers his awn best interest; (3) a reasonable time is aibwed
for exposure in the open market; (4) payment. is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price
represents the normal consideration for the property sold 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 normalt;~ paid by sellers as a result of tradition or law in a market area; these costs are readiy identifiable
since the seller pays these cost:: in virtualy all sales transactions. Special or creative financing adjusbments can be made m the
comparable property by comports: ;s to financing terms offered by a third parry institutional lender that is not already involved in the
property or transaction. Arty adjusUnent should not be cak:utated on a mechanical dollar for dollar cost of the financing or concession
but the dollar amount of any adjustment should approximate the markets reaction m the financing or concessions based on the
appraiser's judgement
STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION
CONTINGENT AND LIMITING CONDITIONS: The appraiser'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 titre th it The appraiser assumes that
llie 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 U,e appraisal report to show approximate dimensions of the improvements and the sketch is included ony to assist
the reader of the report in visualizing the properr~ and understanding the appraiser's determination of its size.
3. The appraiser has examined the available Hood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted
in the appraisal report whether the subject site is bcated in an identified Special Food Hazard Area. Because the appraiser is not a surveyor, he or she makes
no guarantees, express or implied, regarding this determination.
4. The appraiser wiA 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 appraiser 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, mxic
substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the normal research irnoNed 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 eniironmental conditions (including the presence of hazardous wastes, toxic substances, etc.) that would make the property more ar 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 wiu not be responsible for any such conditions that do exist or for any engineering or testing that might be required b 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 correct The appraiser does not assume responsibility for the accuracy of such items that were famished by other
parties.
8. The appraiser will not discbse 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 m satisfactory completion; repairs, or
alterations on the assumption that completion of the improvements will be performed in a workmanlike manner.
APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that
1. I have researched the subject market area and have selected a minimum of three recent sales of properties most similar and proximate to the subject property
for consideration in the sales comparison anaysis and have made a dollar adjustment when appropriate to reflect the market reaction to those items ,;t significant
variation. ff a significant item in a comparable properly is superior to, or more favorable than, the subject properly, I have made a negative adjustm~,rt to reduce
the adjusted sales price of the comparable and, if a significant item in a comparable properly is inferior to, or less favorable than the subject property, I have made
a positive adjustrnent.to increase the adjusted sales price of the comparable.
2. I have taken into consideration the factors that have an Impact on value in my devebpment of the estimate of market value in the appraisal report I have not
knowingy withheld any significant information from the appraisal report and I believe, to the best of my knowledge, that aN statements and information in the
appraisal report are true and correct
3. I stated in the appraisal report Dory my own personal, unbiased, and professional anaysis, opinions, and conclusions, which are subject onry ip the contingent
and limiting conditions specified in this form.
4. I have no present or prospective interest in the properly that is the subject to this report, and I have no present or prospective personal interest or bias with
respect m the participants in the transaction. I did not base, either partialry or completery, my anaysis and/or the estimate of market value in the appr-sisal report
on the race, cobr, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of tire present
owners or occupants of the properties in ttrc vicinity of the subject property.
5. I have no present or contemplated future interest in the subject property, and neither my current or future empbyment nor my compensation for perl~rming this
appraisal is contingent on the appraised value of the property.
6. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related parry, the amount of the value estimate,
the attainment of a specific result, or the occurrence of a subsequent event in order to receive my compensation and/or empbyment for pertorming 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 ban.
7. I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal
Standards Board of The Appraisal Foundation and that were in place as of the effective date of this appraisal, with the exception of the departure provision of those
Standards, which does not appry. 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 devebped is consistent with the marketing time noted in the neighborhood section of this report, unk:ss I have otherwise stated in the
reconciliation section.
8. I have personalty inspected the interior and exterior areas of the subject property and the exterior of all properties listed as comparables in the appraisal report
I further certify that i have noted arty apparent or known adverse conditions in the subject improvements, on the subject site, or on arty site within the immediate
vicinity of the subject property of which I am aware and have made adjustments far these adverse conditions in my anaysis of the property value to the extent that
I had market evidence tb support them. I have also commented about the effect of the adverse conditions on the marketability of the subject property.
9. I personalty 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 arty individual or individuals in the pertormance of the appraisal or the preparation of the appraisal report, I have named such individual(s) and
discbsed the specific tasks pertormed by them in the reconciliation section of this appraisal report I certify that any individual so named is qualified io perform
the tasks. I have not authorized anyone to make a change tiD any item in the reporfi therefore, if an unauthorized change is made m the appraisal report, I wiN take
no responsibility for it
SUPERVISORY APPRAISER'S CERTIFICATION: ff a supervisory appraiser signed the appraisal report, he or she certifies and agrees that
I directty 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 faking full responsibility far the appraisal and the appraisal report.
ADDRESS OF PROPERTY APPRAISED: 3365 NORTH 10 MILE ROAD MERIDIAN, IDAHO 83642
APPRAISER:
Signature: e
Name: TRAVIS STARK
Date signed: FEBRUARY 13 1996
State Certification#: CGA-88
or State License #:
State:
Expiration Date of Certification or License: 6 / 3 0 / 9 6
SUPERVISORY APPRAISER (only if required):
Signature:
Name:
Date Signed:
State Certification #:
or State License #:
State:
Expiration Date of Certification or License:
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Wll~~s Mukr~ l.s. 7045 • fi03 P~pl~r pries • Baia, IP 13704 • (t0i~ 375-7703
LEGAL DESCRIPTION
COMBINED PARCELS A, B AND C
All that portion of the East Fifteen Acres of the Southwest Quarter of the Southeast
Quarter and all that portion of the Southeast Quarter of the Southeast Quarter, all lying in
Section 34, Township 4 North, Range 1 West„ Boise Meridian, lying south and westerly
of the south line of the right-of--way of the Nine Mile Drainage Ditch (formerly Eight
Mile Drainage Ditch) (as hereinbefore conveyed to the United States of America)
together with all ditch and water rights thereto belonging or used in connection therewith.
Said parcel being more particularly described as follows:
Commencing at a 1/2" iron pin marking the Section Comer common to Sections 34 and
35, T. 4N., R. l W., B.M., and Sections 2 and 3, T.3N., R.1 W., B.M., Ada County, Idaho,
thence N.89°43'00"W. 922.00 feet along the south boundary of said Section 34 to a point
on the west boundary of the said right-of--way of the Nine Mile Drainage Ditch (as
hereinbefore conveyed to the United States of America), said point being witnessed by a
1/2" iron pin with cap marked L.S. 7045 which bears N.0°12'00"E. 25.00 feet, said point
also being the REAL POINT OF BEGINNING;
thence continuing N.89°43'00"W. 893.41 feet along the said south boundary of Section
34 to a point marking the Southwest Cotner of the said East Fifteen Acres of the
Southwest Quarter of the Southeast Quarter of Section 34, said point being witnessed by
a 1/2" iron pin with cap mazked L.S. 7045 which bears N.0°12'47"E. 25.00 feet;
thence N.0°12'47"E. 671.39 feet along the west boundary of the said East Fifteen Acres of
the Southwest Quarter of the Southeast Quarter of Section 34 to a 1/2' iron pin with cap
marked L.S 7045, said 1/2" iron pin lies on the southerly boundary of the saidright-of-
way ofthe Nine Mile Drainage Ditch (as heneirtbefore conveyed to the United States of
America);
thence along the south and westerly boundaries of the said right-of--way of the Nine Mile
Drainage Ditch (as hereinbefore conveyed to the United States of America) the following
courses and distances:
N.89°42'00"E. 272.20 feet (formerly 272.80 feet) to a 1/2" iron pin with cap marked L.S.
7045;
5.14°48'00"E. 125.90 feet to a 1/2" iron pin with cap marked L.S. 7045;
S.54°48'00"E. 718.40 feet to a lit" iron pin with cap marked L.S. 7045;
S.0°12'00"W. 141.40 feet to the point of beginning, containing 9.35 acres, more or IeSS.
EXCEPT: All ditch and/or road rights-of--way of record or in use
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