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<br />I <br />r- <br />r <br />r- <br />r: <br />r' <br />[, <br /> <br />I' <br /> <br />-, <br /> <br />.J <br /> <br />..., <br /> <br />..J <br /> <br />'1 <br />I <br />~ <br /> <br />J <br /> <br />1 <br /> <br />I <br />J <br /> <br />1 <br /> <br />fr.. <br /> <br />P ALMER-MOENNING ASSOCIA TES <br /> <br />Real Property Consultants I Investment Analysis I Feasibility I Valuation <br /> <br />May 30, 2003 <br /> <br />Ms. Sharon Burnham <br />Executive Director <br />South Livermore Valley Agricultural Land Trust <br />P.O. Box 2208 <br />Livermore, California 94550 <br /> <br />RE: Appraisal of <br />Agricultural Conservation Easement <br />Part of: APN 099A-2300-001-04 <br />Livermore, California 94550 <br />Appraisal # 03-05-03A <br /> <br />Dear Ms. Burnham: <br /> <br />In accordance with your request and authorization, Palmer-Moenning Associates has provided a <br />complete appraisal, summary report, of the above referenced property. The subject property is <br />part of a larger agricultural parcel located at the southwest comer of Tesla and Mines Roads, just <br />southeast of the city limits of Livermore, in southem Alameda County. The subject parcel is <br />estimated to consist of 77 acres with boundaries of Tesla Road to the north, Mines Road to the <br />east and the Arroyo Mocho to the south. Approximately 60 to 70% of the parcel is improved with <br />vineyard with a street frontage of approximately 2,285 feet on Tesla Road. Alameda County <br />Assessor's Office has the assessor's parcel number for the whole as 099A-2300-001-04, which <br />contains a total of 138.4+\- acres. <br /> <br />The purpose of this appraisal is to estimate the "as-is" market value of a Agricultural Conservation <br />Easement that limits the development of the land to agricultural uses only with no further <br />subdivision or development possible. The intended use for this Appraisal Report is to assist the <br />South Livermore Valley Agricultural Land Trust in the evaluation of the easement for purchase. The <br />intended users of this Report are the South Livermore Valley Agricultural Land Trust is officers, <br />administrators, employees, and appropriate regulatory agencies. <br /> <br />The appraisers are not responsible for any unauthorized distribution and/or use of this report. <br /> <br />Per the instructions of the client the value of the Agricultural Conservation Easement is to be equal <br />to the value of the home-sites that could potentially be developed on the property if no easement <br />existed, combined with the speculative value of the development if zoning were to change at some <br />future point. <br /> <br />P. O. Box 265, Byron CA 94514 (925) 513-0123 - Fax 513-0124 <br />