Agenda 05/25/2010 Item #16B 3
Agenda Item No. 1683
May 25, 2010
Page 1 of 16
EXECUTIVE SUMMARY
Recommendation to approve the purchase of a Perpetual, Non-exclusive, Road Right-of-Way,
Drainage and Utility Easement (Parcel 467RDUE) containing 8,250 square feet, which is required for
the four-Ianing of Golden Gate Boulevard between Wilson Boulevard and DeSoto Boulevard. Project
No. 60040 (Fiscal Impact: $5,705.00).
OBJECTIVE: To obtain the approval of the Board of County Commissioners to purchase a road right-of-
way, drainage and utility easement required for the four-laning of Golden Gate Boulevard between Wilson
Boulevard and DeSoto Boulevard.
CONSIDERATIONS: The required easement is needed along the southern property line of Tract 18,
Golden Gate Estates, Unit 78, and contains a total of 8,250 square feet or 0.189 acres. Using the most
recent, comparative sales data, the Division of Transportation's Review Appraiser, Harry Henderson, SRA,
prepared an appraisal of the easement area of the property estimating its current market value at $2,079.00
($11,000.00 per acre). The assessed value of the needed easement area is $4,725.00 ($25,000 per acre).
On January 20, 2010, Collier County Transportation Division invited the owner, The Estate of Frank Daly,
Deceased, to discuss the sale of the required easement to the County. Tlrrough negotiations with the
Estate's attorney, the Estate's representative has agreed to sell the required easement to Collier County for
the purchase price of$4,725.00 (the exact assessed value).
Staff is recommending that the Board of County Commissioners purchase the required easement area from
The Estate of Frank Daly, Deceased for the purchase price of $4,725.00, and believes the following are
compelling reasons to do so:
This is not a distress sale, The property owner can afford to hold out and wait for the market to improve.
If we should delay this acquisition for several years until construction is imminent, and be forced to take the
easement through condemnation, the cost of doing so would far exceed the owner's asking price. In
addition, the owner and its counsel are cooperating with staff so there are no expert fees.
Moreover, the owner's attorney's fces are kept to a minimum. Our current practice is to pay an owner's
attorney a flat fee of $500 for assisting the owner with the closing. By agreeing to pay the attorney a flat
fee, we are able to keep from paying hourly attorneys fees.
Furthermore, if we should forestall this purchase and the market begins to rebound, in three to five years we
are likely going to be paying as much or more for the subject property than the owner is seeking today.
It is a common expectation of property owners upon the sale of their property to the government, to be paid
at least the value upon which they were taxed by the government.
FISCAL IMPACT: The fiscal impact is in the amount of$5,705.00 and includes the $4,725.00 negotiated
purchase price; attorney's fees in the amount of $500.00; a title search fee and a title insurance premium
totaling approximately $450.00; and recording fees not to exceed $30.00. Source of funds are transportation
impact fees.
Agenda Item No. 1683
May 25, 2010
Page 2 of 16
GROWTH MANAGEMENT IMPACT: There is no growth management impact associated with this
Executive Summary.
LEGAL CONSIDERATIONS: This item is legally sufficient for Board action. RNZ
RECOMMENDATION: That the Board of County Commissioners of Collier County, Florida:
I. Approve the attached Easement Agreement and authorize its Chairman to execute same on behalf of the
Board;
2. Accept the conveyance of Parcel 467RDUE (8,250 square feet along the southerly property line of Tract
18, Golden Gate Estates, Unit 78) and authorize the County Manager or his designee to record same in
the public records of Collier County, Florida;
3. Authorize the payment of all costs and expenses necessary to close the transaction;
4. Authorize the County Manager or his designee to take the necessary measures to ensure the County's
performance in accordance with the terms and conditions of the Agreement; and
5. Approve any and all budget amendments which may be required to carry out the collective will of the
Board.
Prepared by: Michelle 1. Sweet, Property Acquisition Specialist, Transportation Engineering &
Construction Management
Attachments:
(I) Easement Agreement; (2) Location Map; (3) Appraisal
Item Number:
Item Summary:
Meeting Date:
Agenda Item No. 1683
May 25,2010
Page 3 of 16
COLLIER COUNTY
BOARD OF COUNTY COMMISSIONERS
16B3
Recommendation to approve the purchase of a Perpetual, Non-exclusive, Road Right-of-
Way, Drainage and Utility Easement (Parcel 467RDUE) containing 8,250 square feet, which
is required for the four-Ianing of Golden Gate Boulevard between Wilson Boulevard and
DeSoto Boulevard. Project No. 60040 (Fiscal Impact: $5,705).
5/25/20109:00:00 AM
Date
Prepared By
Michelle Sweet
Transportation Division
Property Acquisition Specialist
Transportation Engineering &
Construction Management
S/6/2010 11:38:28AM
Date
Approved By
Debbie Armstrong
Transportation Division
Project Manager
Transportation Engineering &
Construction Management
S/7/2010 2:07 PM
Date
Approved By
Gary Putaansuu
Transportation Division
Project Manager, Principal
Transportation Engineering &
Construction Management
S/7/2010 2:19 PM
Date
Approved By
Norm E. Feder, AICP
Transportation Division
Administrator ~ Transportation
Transportation Administration
SI1112010 11:39AM
Date
Approved By
Kevin Hendricks
Transportation Division
Manager - Right of Way
Transportation Engineering &
Construction Management
5111/2010 11:S1 AM
Date
Approved By
Najeh Ahmad
Transportation Division
Director. Transportation Engineering
Transportation Engineering &
Construction Management
SI1112010 11:57 AM
Date
Approved By
Robert N. Zachary
County Attorney
Assistant County Attorney
County Attorney
5112120102:43 PM
Date
Approved By
Natali Betancur
Transportation Division
Administrative Assistant
Transportation Road Maintenance
5/131201012:15 PM
Agenda Item No 1683
May 25, 2010
Page 4 of 16
Approved By
OMS Coordinator
Date
County Manager's Office
Office of Management & Budget
S/13/2010 1 :49 PM
Approved By
Jeff Klatzkow
County Attorney
Date
5/17/201010:14 AM
Approved By
Susan Usher
ManagemenUBudget Analyst, Senior
Date
Office of Management &
Budget
Office of Management & Budget
5/17/201011:27 AM
Approved By
Leo E. Ochs, Jr.
County Manager
Date
County Managers Office
County Managers Office
5/17/20105:36 PM
Agenda Item No. 16B3
May 25, 2010
Page 5 of 16
PROJECT:
PARCEL No:
FOLIO No:
60040 Golden Gate Boulevard
467RDUE
40741040004
EASEMENT AGREEMENT
THIS EASEMENT AGREEMENT (hereinafter referred to as the "Agreement") is made and
entered into on this _ day of , 2010, by and between TRACY L.
PAlENIK, PERSONAL REPRESENTATIVE OF THE ESTATE OF FRANK DALY,
DECEASED, whosemailingaddressis16837MohicanDrive.lockport.ll 60441-4389,
(hereinafter referred to as "Owne~'), and COlliER COUNTY, a political subdivision of the
State of Florida, whose mailing address is 3301 Tamiami Trail East, Naples, Florida 34112
(hereinafter referred to as "Purchase~').
WHEREAS, Purchaser requires a Perpetual, Non-Exclusive Right-of-Way, Drainage
and Utility Easement over, under, upon and across the lands described in Exhibit "A",
which is attached hereto and made a part of this Agreement (hereinafter referred to as the
"Easement"): and
WHEREAS, Owner desires to convey the Easement to Purchaser for the stated
purposes, on the terms and conditions set forth herein; and
WHEREAS, Purchaser has agreed to compensate Owner for conveyance of the
Easement.
NOW THEREFORE, in consideration of these premises, the sum of Ten Dollars
($10.00), and other good and valuable consideration, the receipt and sufficiency of which
is hereby mutually acknowledged, it is agreed by and between the parties as follows:
1. All of the above RECITALS are true and correct and are hereby expressly
incorporated herein by reference as if set forth fully below, and all Exhibits referenced
herein are made a part of this Agreement.
2. Owner shall convey the Easement to Purchaser for the sum of:
$4,725.00
subject to the apportionment and distnbution of proceeds pursuant to Paragraph 9 of
this Agreement (said transaction hereinafter referred to as the "Closing"). In
addition, the Purchaser shall pay Seller's attorney's fees to Bella Y. Patel, P.A. in
the sum of $500.00. Said payment to Owner, payable by County Warrant, shall be
full compensation for the Easement conveyed, including all landscaping, trees,
shrubs, improvements, and fixtures located thereon, and shall be in full and final
settlement of any damages resulting to Owner's remaining lands, costs to cure,
including but not limited to the cost to relocate the existing irrigation system and
other improvements, and the cost to cut and cap irrigation lines extending into the
Easement, and to remove all sprinkler valves and related electrical wiring, and all
other damages in connection with conveyance of said Easement to Purchaser,
including all attorneys' fees. expert witness fees and costs as provided for in Chapter
73, Florida Statutes.
3. Prior to Closing, Owner shall obtain from the holders of any liens, exceptions and/or
qualifications encumbering the Easement, the execution of such instruments which
will remove, release or subordinate such encumbrances from the Easement upon
their recording in the public records of Collier County, Florida. At or prior to Closing,
Owner shall provide Purchaser with a copy of any existing prior title insurance
Agenda Item No. 1663
May 25.2010
Page 6 of 16
policies. Owner shall cause to be delivered to Purchaser the items specified herein
and the following documents and instruments duly executed and acknowledged, in
recordable form (hereinafter referred to as "Closing Documents") on or before the
date at Closing:
(a) Right-at-Way, Drainage and Utility Easement:
(b) Closing Statement;
(c) Grantor's Non-Foreign, Taxpayer Identification and "Gap" Affidavit;
(d) W-g Form; and
(e) Such evidence of authority and capacity of Owner and its representatives to
execute and deliver this agreement and all other documents required to
consummate this transaction, as reasonably determined by Purchaser,
Purchaser's counsel and/or title company.
4. Both Owner and Purchaser agree that time is of the essence. Therefore, Closing
shall occur within ninety (90) days from the date of execution of this Agreement by
the Purchaser; provided, however, that Purchaser shall have the unilateral right to
extend the term of this Agreement pending receipt of such instruments, properly
executed, which either remove or release any and all such liens, encumbrances or
qualifications affecting Purchaser's enjoyment of the Easement At Closing, payment
shall be made to Owner In that amount shown on the Closing Statement as "Net
Cash to Seller," and Owner shall deliver the Closing Documents to Purchaser in a
form acceptable to Purchaser.
Owner agrees to relocate any existing irrigation system located on the Easement
including irrigation lines, electrical wiring and sprinkler valves, etc., prior to the
construction of the project without any further notification from Purchaser. Owner
assumes full responsibility for the relocation of the irrigation system on the remainder
property and its performance after relocation. Owner holds County harmless for any
and all possible damage te the irrigation system in the event owner fails to re!ocate
the irrigation system prior to construction of the project
If Owner elects to retain improvements and/or landscaping ("Improvements") located
on the Easement, the Owner is responsible for their retrieval prior to the construction
of the project without any further notification from Purchaser. Owner acknowledges
that Purchaser has compensated Owner for the value of the Improvements and yet
Purchaser is willing to permit Owner to salvage the Improvements as long as their
retrieval is performed before construction and without interruption or inconvenience
to the County's contractor_ All Improvements not removed from the Property prior to
commencement of construction of the project shall be deemed abandoned by
Owner.
This provision shaH survive Closing and is not deemed satisfied by conveyance of
title.
6. Owner and Purchaser agree to do all things which may be required to give effect to
this Agreement immediately as such requirement is made known to them or they are
requested to do so, whichever is the earlier.
7. Owner agrees, represents and warrants the following:
{a) Owner has full right, power and authority to own and operate the property
underlying the Easement, to enter into and to execute this Agreement, to
execute, deliver and perform its obligations under this Agreement and the
instruments executed in connection herewith, to undertake all actions and to
perform all tasks required of Owner hereunder and to consummate the
transaction contemplated hereby.
Agenda Item No. 16B3
May 25, 2010
Page 7 of 16
(b) Purchaser's acceptance of the Easement shall not be deemed to be full
performance and discharge of every agreement and obligation on the part of
Owner to be performed pursuant to the provisions of this Agreement.
(c) No party or person other than Purchaser has any right or option to acquire
the Easement or any portion thereof.
(d) Until the date fixed for Closing, so long as this Agreement remains in force
and effect, Owner shall not encumber or convey any portion of the property
underlying the Easement or any rights therein, nor enter into any agreements
granting any person or entity any rights with respect to the Easement,
without first obtaining the written consent of Purchaser to such conveyance,
encumbrance, or agreement, which consent may be withheld by Purchaser
for any reason whatsoever.
(e) There are no maintenance, construction, advertising, management. leasing,
employment, service or other contracts affecting the Easement.
(I) Owner has no knowledge that there are any suits. actions or arbitration,
administrative or other proceedings or governmental investigations or
requirements, formal or informal, existing or pending or threatened which
affect the Easement or which adversely affect Owner's ability to perform
hereunder; nor is there any other charge or expense upon or related to the
Easement which has not been disclosed to Purchaser in writing prior to the
effective date of this Agreement.
(g) Purchaser is entering into this Agreement based upon Owner's
representations stated in this Agreement and on the understanding that
Owner will not cause the physical condition of the property underlying the
Easement to change from its existing state on the effective date of this
Agreement up to and including the date of Closing. Therefore, Owner
agrees not to enter into any contracts or agreements pertaining to or
affecting the property underlying the Easement and not to do any act or omit
to perform any act which would adversety affect the physical condition of the
property underlying the Easement or its intended use by Purchaser.
(h) The property underlying the Easement, and all uses of the said property,
have been and presently are in compliance with all Federal, State and Local
environmental laws; that no hazardous substances have been generated,
stored, treated or transferred on the property underlying the Easement
except as specifically disclosed to the Purchaser; that the Owner has no
knowledge of any spill or environmental law violation on the property
contiguous to or in the vicinjty of the Easement to be sold to the Purchaser,
that the Owner has not received notice and othervvise has no knowledge of:
a) any spill on the property underlying the Easement: b) any existing or
threatened environmental lien against the property underlying the Easement:
or c) any lawsuit, proceeding or investigation regarding the generation,
storage, treatment. spill or transfer of hazardous substances on the property
underlying the Easement. This provision shall survive Closing and is not
deemed satisfied by conveyance of title.
8. Owner shall indemnify, defend, save and hold harmless the Purchaser against and
from, and reimburse the Purchaser with respect to, any and all damages, claims,
liabilities, laws, costs and expenses (including without limitation reasonable paralegal
and attorney fees and expenses whether in court, out of court, in bankruptcy or
administrative proceedings or on appeal), penalties or fines incurred by or asserted
against the Purchaser by reason or arising out of the breach of any of Owner's
representations under paragraph 7(h). This provision shall survive Closing and is not
deemed satisfied by conveyance of title.
9. Purchaser shall pay all fees to record any curative instruments required to clear title,
all Easement recording fees, and any and all costs and/or fees associated with
securing and recording a Release or Subordination of any mort9age, lien or other
encumbrance recorded against the property underlying the Easement; provided,
Agenda Item No. 1663
May 25, 2010
Page 8 of 16
however, that any apportionment and distribution of the full compensation amount in
Paragraph 2 which may be required by any mortgagee, lien-holder or other
encumbrance-holder for the protection of its security interest, or as consideration due
to any diminution in the value of its property right, shall be the responsibility of the
Owner, and shall be deducted on the Closing Statement from the compensation
payable to the Owner per Paragraph 2. In accordance with the provisions of Section
201.01, Florida Statutes, related to the exemptions against payment of documentary
stamp taxes by Purchaser, Owner shall further pay all documentary stamp taxes
required on the instrument(s) of transfer, unless the Easement is acquired under
threat of condemnation.
10. This Agreement and the terms and provisions hereof shall be effective as of the date
this Agreement is executed by both parties and shall inure to the benefit of and be
binding upon the parties hereto and their respective heirs, executors, personal
representatives, successors, successor trustees, and/or assignees, whenever the
context so requires or admits.
11. If the Owner holds the property underlying the Easement in the form of a partnership,
limited partnership, corporation, trust or any form of representative capacity
whatsoever for others, Owner shall make a written public disclosure, according to
Chapter 286, FlOrida Statutes, under oath, of the name and address of every person
having a beneficial interest in the property underlying the Easement before the
Easement held in such capacity is conveyed to Purchaser. (If the corporation is
registered with the Federal Securities Exchange Commission or registered pursuant
to Chapter 517, Florida Statutes, whose stock is for sale to the general public, it is
hereby exempt from the provisions of Chapter 286, Florida Statutes.)
12. Conveyance of the Easement, or any interest in the property underlying the
Easement, by Owner is contingent upon no other provisions, conditions, or premises
other than those so stated herein; and this written Agreement, including arl exhibits
attached hereto, shall constitute the entire Agreement and understanding of the
parties, and there are no other prior or contemporaneous written or oral agreements,
undertakings, promises, warranties, or covenants not contained herein. No
modification, amendment c:. cancellation of this Agreement shaH be of any force or
effect unless made in writing and executed and dated by both Owner and Purchaser.
13. Should any part of this Agreement be found to be invalid, then such invalid part shall
be severed from the Agreement, and the remaining provisions of this Agreement
shall remain in full force and effect and not be affected by such invalidity.
14. This Agreement is governed and construed In accordance with the laws of the State
of Florida.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the
date first above written,
AS TO PURCHASER:
DATED:
ATTEST:
DWIGHT E. BROCK, Clerk
BOARD OF COUNTY COMMISSIONERS
COLLIER COUNTY, FLORIDA
BY
Deputy Clerk
FRED W COYLE, Chairman
AS TO OWNER:
DATED: 3131} Ib
.
(-'
--rt-fv1Yl A5 :r; fJ AiXN It..
Name (Print or Type)
Approved as to form and
legal sufficiency:
LaS1 ReVl$ea: 2r91Q9
Agenda Item No. 16B3
May 25,2010
Page 9 of 16
ESTATE OF FRANK DALY, DECEASED
By~l-l1~
TRACY L. PALENIK,
Personal Representative
r----------
I
I
Agenda Item No. 16B3
May 25. 2010
Page 10 of 16
EXHIBIT /~
Page-L:: af--L-
w~L,
'~' .
DAtr[ST
ORIJ51j12C7
:-J>\L\ (Sj
t!R ml)i~"tJl
TRACT 1
TRACT 1 B
GOLDEN GATE ESTATES
UNIT 78
PlAT seOK :5 PACE 16
TRACT 19
GOLDEN GATE ESTATES
UNIT 78
PLAT BOOK 5 P,t,G( 16
PROPOSED ROADWAY EASEMENT
PARCEL 467 ROUE
~I.~~() so. "
18'I~OO _ ~."Otl __~tIO
-'--T-~-I I .
11[[0110:; ([;:,:.!:JI\;f'A;;l)
LEGAL DESCRIPTION FOR PARCEL 467 RDUE
A PORTION OF TRACT 18, GOLDEN GArE [STAlES, UNIT 78 AS RECORDED IN PLAT BOOK 5. PAGE 16 or THS PUBLIC
RECORDS or COLLIER COUNTY, FLORIDA, lYING IN SECTION 5, TOWNSHIP 49 SOUTH, RANGE 28 EAST, COLLIER
COUNTY, FLORIDA. BEING MORE. PARTICULARLY DESCRIBED A.S FOLLOWS
THE NORTH 25 FEET OF THE SO\J";'H 75 FEET OF SAID TRACT 18.
CONTANING 8.250 SOuARE r:CT. WORF.: O~ l.ESS,
SKETCH & DESCRIPTION ONLY
NOT A BOUNDARY SURVEY :3CAU:. l.~ 100'
FOR: COLLIER COUNT" COVERNMENT aOl\fm or COWHY COMUISSrO"l!:RS
,j{{gt(,y,.., "m"
I ~o~~~~ :~,~;~~~~~:~~;,~:~'~::':~~{~~:"~;~>SD su_ P'
GOLDEN GATE BOULEVARD
SKETCH & DESCRIPTION Of': PROPOSED HOADlI'AY EASEMENT
PARCEL 467 RDUE
COLLIER CDUNTY, FLORIDA
RJ~.l~~~~q
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f'l\"...., 1Z.l9] ~~f.l}~1S FAll:(13P) 5111-05111
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Fill NAMl SHEET
UN785K457 1 OF 1
JOE! N\JM8[R
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Agenda Item No. 16B3
May 25, 2010
Page 11 of 16
lOCATION MAP
60040-467RDU E
Estate of Frank Daly
Golden Gate Estates Unit 78, Tract 18
LAND APPRAISAL REPORT
IM';"FileN,p~~~Q'mlf'I~\r'~o. 16B3
File No. Parcel46Z 25, 2010
CensusTracl~MapReference S5-T49-R28 2 of 16
Borrower Owner: Dalv Est.
Property Address N/S Golden Gale Blvd E. ._
City Naples County~~_
legal Description Golden Gate Estates Unil78 Tracl18
Sale PriceS N/A Dale of Sale N/A~ loanTerm~_ yrs Property Rights Appraised
Actual Real Eslale Taxes $ 1,499.82 (yr) Loanchargeslobepaidbyseller$~OIhersalesconcessions
LenderlCHerrt Collier County GovfTransDortation Division Address 2885 South Horseshoe Drive, Na les Fl34104
Occupalll vacanlland Appraiserl:!.~ry Hendersonc.~ Instructions to Appraiser Estimate Market Value/Partial Take
Folio #40741040004
Location Suburban Rural
BuiR Up 25% to 75% LJ Under 25%
Growth Rate FullyDev X Slow
Property Values lX Declining
Demand/Supply ;; in Balance ~8: O~ersupply
Marketing Time 0 Under 3 Mos. I.~ 4-6 Mos 0.J O~er 6 Mos
Present Land Use .2Q.% 1 Family _% 2-4 Family _% AplS. _% Condo_% Commercial
% Industrial 50% Vacant %
Changfl in Present Land Use o NOlLikely -[gJUkely(*) o Taking Ptace(*)
(*) From vacant To sinQle-familv
[SJ Owner 0 Tenam % Vacarrt
$~ to$ 300000 PredominarrtValue$ 135,000
----Lyrs,to~yrs, PredominarrtAge~yrs.
Slate FL
Zip Code 34120
Fee CLeasehold ODeMinimisPUD
Predominant Occupancy
Single Famity Price Range
Single Family Age
EmpioymemSlabilily
Con~eniencetoEmploymem
Con~enience to Shopping
Convenience 10 Schools
Adequacy ot Public Transportation
RecreationaiFacilities
Adequacy of lllilities
Property Compatibility
Protection from Detrimental Conditions
PoiiceandFireProtection
General Appearance of Propertles
Appeal to Market
Good A~g, Fair Poor
DDiZlD
::::JiZlDD
C:>.JDD
~.J:>.JCD
0[8]00
DiZlDD
0[8]00
DiZlDD
DiZlDD
D:8JDD
DiZlCD
0[8]00
Comments including those factors, fa~orable or ullfa~orable, affecting marketability (e.g pUblic parks, schools, ~iew, noise):See attached addenda.
Dimensions 330 x 680 5.15 Sq. Ft or Acres Corner Lot
Zoning class~ication Estates 12.25 acre con/orminQ 101 size min.) Present Impro~emerrts IN: do [AJ do not corrtorm to zoning regulations
Highest and best use D Preserrt use .LJ.Qther s ecif eventual sin le-famil develo ment 2 home sites
Bec P~ijC Other (Describe) I Street AC:S SITE 5~r:~b~i~Mf,jS Pri~ate i~~o ~::I alible with area
Gas 0 ~~-ISurface Macadam -----..,-c---' :IShap;-R-eclanoular
Water 0 i Mai_ntenance l2:J P,~~!ic _J Pri~ate View Nei hborhood
San, Sewer 0 ,~ [ Storm Sewer i _~ Curb/GulterDrainage ears 10 be ade uale
,] Underground Elec!. & Tel.i_D Sidew,!!~___ ~J_~lree!!!9.~ .Is the f1roperty located in a HUO ldentl1ied Special Flood Hazard Area? ~ NoD Yes
Comments ~avorableor unfavorable iIlcluding any apparent adverse easements, encroachments, or other ad~erse condtlions) Zone D, Comm#120067C0250G. dtd 11/17/05
No adverse conditions observed. T ical roadway and/or parameter Ulili~~~ments exist on the site; these are common in the area and do
not im act value.
The undersigned has reciled I!1ree recent
adjustment reflecting markllt reaction to
10,622/ac
29,000
+ - Must.
in $/ac
SaJesorFinancing
Concessions
Ne1Ad. alai
lfldicatedValue
of Subject
Comments on Market Data:
10,622
Comments and Conditions of Appraisal: ~~omps are~ared on a5/acr~unil price: basis. A unil price of $11 ,ODD/acre is selected as most
reasonable for Ihe subiectlracl. __._~___~__________
See attached Limitin Conditions.
Final Reconciliation: The subiecl ROW parcel is a 25ft-wide strip r_unnin alan the sub'ecl's GGB fronta e; Ihe lotal area of the takin arcel is
.19 acres, At a unit! rice of $11 ODD/acre the estimated iand value of Ihe subect lakin is: .19 acres x $11.000/acre = $2 090
I unMATE THE MARkET VALUE, AS DEFINED, OF SUBJECT PROPERTY AS OF
Eebrurarv 10 20~ to be $ 2,090 artiallake
Harry Henderson, 8RA
Appraisers
~2~
Re~iew Appraiser (ii applicable)
Oil! o Did Not Physically Inspect Property
pplemental Addendum
IM,;o"I,No Pl'!i~~ImlEllri\'l'ir1~o. 1663
Fil, No. Pa,ce' 467RDUE May 25, 2010
13 of 16
Borrower/Client Owner: Os Est.
Pro e Address N/S Golden Gate Blvd E.
C' Na les Gou Collier
Lender Collier Count GovlTrans ortalion Division
State Fl Zip Code 34120
. Land: Neiahborhood Market Factors
The subject is located in the central part of unincorporated Collier County in the Golden Gate Estates area. Golden Gate
Estates is a sprawling pre-platted subdivision consisting of acreage~type single-family homesites (1.14 to 5 acres typically) in a
semj.rural setting. Essential services are within a 35 minute drive. Golden Gate Boulevard is an east.west running thorofare
linking the eastern Estates area to Collier Boulevard (with greater Naples beyond). Maintenance levels in the area are average.
. Land: Market Data
The subject and camps are compared on a unit/price ($/acre) basis. This method eliminates the need for direct size
adjustments. The sales cited are all Estates zoned lands located in the general vicinity of the subject. The overall real estate
market has been in decline since late 2005 and remains exceptionally weak.; the Estates market has been especially soft due
to a severe supply-demand imbalance in this area. The safes cited are relatively recent transactions; no time adjustments have
been applied in order to give property owner's every benefit of the doubt.
The indicated unit prices range from $10,622/acre to $12,828/acre: given the comparison criteria discussed, a unit price of
$11,OOO/acre is selected as reasonable for the subject lands.
The ProDosed Take
Parcel 467RDUE is a 25ft.wide strip taking running along the front of the subject site on Golden Gate Blvd. This ROW interest
will be in the form of a permanent easement which will widen an existing ROW easement over the subject property for the
existing GGB. The proposed new easement area will contain 8,250 sf or .19 acres.
Form TADD - "WinTOTAL" appraisal software by a la mode, inc. -l.aOO-ALAMODE
Location Map
1M,;" File No. Pj!i~If,7,~Fllri!!l'i rlllo 1683
May 25, 2010
14 of 16
Borrower/Client Owner: DB Est.
Pro Address N/S Golden Gate Blvd E.
C. Na les Courrtv Collier
Lender Collier Count GovrTrans ortalion Division
State Fl Zip Code 34120
411\ AveNE'-'
35tnIwe.NE
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33rdA~NE'
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29th A~e NE--_.
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NE 22n~~NE""
20lhAve"NE
16lt1I\~NE
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lUl 16th Av~nu[' NW
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form MAP.LOC - ''WinTOTAL'' appraisal software by a la mode, inc. -1-BOO-AlAMODE
IMain File No P~~~lij)l!'llr&Mlijo. 1683
May 25, 2010
Page 15 of 16
DEFINITION OF MARKET VALUE: The most probable price which a properly should bring in a campetitive and open market under all conditions
rflquisite 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
delinition is the consummation of a sale as of a speciiied date and the passing of title from sellerla buyer under conditions whereby: (1) buyer and seller are
typically motivalfld; (2) balh 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 \s 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 sokl 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 normally paid by sellers as a resurr 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 institLllional lender that is not already involved in the
property or transaction. Any adjustment should not be calculated on a mechanical doliar for dollar cost of the financing or concession
but the dollar amoulll of any adjuslment shoukl approximate the market's reaction to 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 erther the property being appraised or the title to it. The appraiser assumes that
the lrtle is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis 01 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 visualilingthe property and understandingth e appraiser's detelTl1ination 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 site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes
noguarantees,expressorimplied,regardingthisdetermination.
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 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, toxic
substaoces, etc.) observed during the inspection of the subject property or that he or she became aware of during the normal research involved in pertorming
the appraisal. Unless otherwise statoo in the appraisal report, the appraiser has no knowledge of any hidden or unapparelll condrtions of the property or
adverse environmental conditions (including 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 condiUons and makes no guarantees or warranties, express or implied, regarding the condition of the property. The
appraiser will not be responsib~ for any such conditions that do exist Of lor any engineering or lesting 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
environmentaJassessmentoftheproperty.
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 beHeves them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were fumished by other
parties.
8. The appraiser wi~ not disclose the contents 01 the appraisal report except as provided for in the Uniform Standards 01 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
~ncluding conclusions about the property value, the appraiser's identITy and professional designations, and re1erences to any professional appraisal
organizations or the filTl1 with which the appraiser is associated) to anyone other than the borrower; the mortgagee or its successors and assigns; the mortgage
insurer: consun:ants: professional appraisal organizations; any state or federally approved financial instilulion; or any department, agency, or instrumentality
of the United States or any state or the District of Columbia; except Ihat the lender/clientmay distribute the property description section of the report only to data
collection or reporting service(s) wtthout having to obtain the appraiser's prior written consent. The appraiser's written consent and approval must aiso
be obtained before the appraisal can be conveyed by anyone to the public through advertising, publiC reiations, news, sales, or other media.
Freddie Mac Form 4396.93
Page10f2
Fannie Mae Fonn 1004B 6-93
Collier Counly Government
Fonn ACR - 'WinTOTAL' appraisal software by a ia mode, inc. - 1-S0Q-ALAMQOE
1M", File No. P~~&,7,~)if11 F.!!I', r~o. 1683
May 25, 2010
Page 16 of 16
APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that
1, I have researched the subje<:t market area and have selected a mirlimum of three recent sales of properlies most similar and proximate 10 the subject property
for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the market reaction to those items 01 significant
variation. n a signfficant item in a comparable property is superior to, or more favorable tI1an, 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 inleriorto. or !ess favorable lhan Ihe subject property, I have made
a posmve adjustment to increase the adjusted sales price of the comparable.
2. I t1ave taken into consideration the factors that have an impact on value in my development of th€ estimate of market value in the appraisal report I have not
knowingly withheld any significant information from the appraisal report and I believe, to the best of my kl1OwJedge, that all statemellts alld illformation in the
appraisal report are true and correct
3. I slated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, alld conclusions, which are subject Ollly to the contingent
and limiling condilions specified in this form.
4. I have no present or prospective 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 partial~ or completely, my analysis and/or the estimate of market value in tile appraisal report
on lI1e race, color, religion, sex, handicap, familial status, or nationai origin of e~herfhe prospective owners or occupants of the Subject property or of the present
owners or occupants of the properties in the vicinity of the subject property
5. I have no present or contemplated future interest in the subject property, and neilher my current or future employment nor my compensation for periormlng 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 lhe client or any related party, the amount of the vaiue estimate.
the attainment of a specific resuR, or the occurrence of a subsequent event in order to receive my compensation and/or employment for performing the appraisal. I
did nof base lte appraisal report on a requested minimum valuation, a specific valuation, or the need to approve a specific mortgage loa n
7. I perfOrmed ttris appraisal in conformity wilh 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, wilh the exception of the departure provision ollhose
Standards, which does not apply. I acknowledge that an estimate of a reasonable time lor exposure in !he open market is a condition in the definition of market value
and the estimate I developed is consistent with the marketing time noted in the neighborhood section of this report, unless I have otherwise stated in the
reconciliatioosection
B. I have personaliy inspected the irrterior and exterior areas and the exterior of all properties listed as comparables in the appraisal report
I further certify lhat I have noted any apparent or known adverse Subject improvements, on the subject site, or on any site within the immediate
vicinity of the Subject property of which I am aware and have made adjustments for these adverse conditions in my analysis of the property value to the extent that
I had market evidence 10 support them. I have also commented about the effect of the adverse conditions on the marketability of the subject property
9. I personally prepared all conclusions and opinions about the real estate that were set torth in the appraisal report. If I relied on significant professional
assistance from any individual or individuals in the periormance of lhe appraisal or the preparation of lhe appraisal report, i have named such individual(s) and
disck:Jsed t~specrtic tasks perioffiled by them in the reconciliation section of this appraisal report I that any individual so named is Qualified to periorm
the tasks. I have not alJlttorized anyone to make a change to any item in the report; therefore. it an change is made to the appraisal report, I will lake
I'lO 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 fhe appraiser who prepared th€ appraisal report, have reviewed the appraisal report, agree with the statements and conclusions of the appraiser,
agree to be bound by the appraiser's certrtications numbered 4 Ihrough 7 above, and am taking full responsibility lor the appraisal and the appraisal report
ADDRESS OF PROPERTY APPRAISED: NIB Golden Gale Blvd E., Naples, FL 34120
APPRAISER:
SUPERVISORY APPRAISER (only if required):
Signature:___"_~___ ~Slgnature:~
Name: Harry Henderson, 8RA Name'
Date Signed: Februarv 10 2010 Dale Signed:
Stale Certification #: .RD3475~~______ State Certification #
orStaleLlcense#__ _______ or State License#'
State: FL State:
Expiration DateofCertrtication or License: 11/30/10 _..___~ Expiration Date of Certification or License:____
Did Did Not Inspect Property
Freddie Mac Form 4396-93
Page20f2
FannieMaeForm1004B6-93
Form ACR - "WinTOTAL" appraisal software by a la mode, inc. -1-800.ALAMODE