Agenda 07/27/2010 Item #16A26Agenda Item No. 16A26
July 27, 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 No. 402RDUE) containing 5,700 square feet
more or less (0.130 acres), which is required for the four - laning of Golden Gate Boulevard
between Wilson Boulevard and DeSoto Boulevard. Project No. 60040 (Fiscal Impact:
$3,600.00).
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 northern property line of a
portion of Tract 121, Golden Gate Estates, Unit 81, and contains a total of 5,700 square feet
(0.130 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 $1,235.00 ($9,500.00 per acre). The current /
2009 assessed value of the needed easement area is $3,250.00 ($25,000 per acre).
On June 14, 2010, Collier County Transportation Division invited the owners, Lorenzo Suarez
and Zoraida Suarez, to discuss the sale of the required easement to the County. On or about June
30, 2010, Mr. Suarez contacted the assigned Property Acquisition Specialist to discuss the
County's invitation. Through continued negotiations, the owners have agreed to sell the required
easement to Collier County for the purchase price of $3,250.00 (the exact current / 2009 assessed
value).
Staff is recommending that the Board of County Commissioners purchase the required easement
area from Mr. and Mrs. Suarez for the purchase price of $3,250.00, and believes the following
are compelling reasons to do so:
This is not a distress sale. The property owners 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 owners'
asking price. In addition, the owners are cooperating with staff so there are no expert or attorney
fees.
Moreover, 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 owners
are 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. The easement
Agenda Item No. 16A26
July 27, 2010
Page 2 of 16
agreement was negotiated at the current / 2009 assessed value prior to the publishing of the
preliminary 2010 assessed values on July 15`x'.
FISCAL IMPACT: The fiscal impact is in an amount not to exceed $3,600.00 and includes the
$3,250.00 negotiated purchase price; a title search fee, a title insurance premium, lender
subordination fees, and recording fees not to exceed $350.00. Source of funds are road impact
fees.
GROWTH MANAGEMENT IMPACT: There is no growth management impact associated
with this Executive Summary.
LEGAL CONSIDERATIONS: This item has been reviewed by the County Attorney's Office
and is legally sufficient for Board action. -JBW
RECOMMENDATION: That the Board of County Commissioners of Collier County, Florida:
1. Approve the attached Easement Agreement and authorize its Chairman to execute same on
behalf of the Board;
2. Accept the conveyance of Parcel No. 402RDUE 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 required to carry out the collective will of the
Board.
Prepared by: Deborah Farris, Sr. Property Acquisition Specialist, Right -of -Way
Acquisitions, Transportation Engineering Services, Growth Management Division
Attachments: (1) Easement Agreement (complete with Exhibit "A "); (2) Location Map; (3)
Appraisal; (4) Property Appraiser's 2009 Certified Tax Roll
Agenda Item No. 16A26
July 27, 2010
Page 3 of 16
COLLIER COUNTY
BOARD OF COUNTY COMMISSIONERS
Item Number: 16A26
Item Summary: Recommendation to approve the purchase of a Perpetual, Non - exclusive, Road Right -of-
Way, Drainage and Utility Easement (Parcel 402RDUE) containing 5,700 square feet more or
less (0.130 acres), . which is required for the four - laning of Golden Gale Boulevard between
Wilson Boulevard and De Soto Boulevard. Project No 60040 (Fiscal Impact: 53,600.00).
Meeting Date: 7/27/2010 9.00:00 AM
Prepared By
Deborah Farris
Property Acquisition Specialist, Senior
Date
Transportation Engineering &
Transportation Division
Construction Management
7/912010 1:13:17 PM
Approved By
Jeff Klatzkow
County Attorney
Date
7/912010 3:25 PM
Approved By
Najeh Ahmad
Director - Transportation Engineering
Date
Transportation Engineering &
Transportation Division
Construction Management
711212010 9:50 AM
Approved By
Jennifer White
Assistant County Attorney
Date
County Attorney
County Attorney
711212010 12:02 PM
Approved By
Gary Putaansuu
Project Manager. Principal
Date
Transportation Engineering &
Transportation Division
Construction Management
711 2/201 0 1 X11 PM
Approved By
Lisa Taylor
Management /Budget Analyst
Date
Transportation Division
Transportation Administration
71121200010 211 PM
Approved By
Nick Casalanguida
Director - Transportation Planning
Date
Transportation Division
Transportation Planning
7'12'20104:24 PM
Approved By
Kevin Hendricks
Manager - Right D,' Way
Date
Transportation Engineering .°.
Transportation Division
Cmrsiruction Management
7!12;2010 E.36 Ptd
Approved By
Worm E. Feder. AICP Administrator - Transportation
Transporation Division Transportation A.dnnn'.StratiOn
Aqenda Item No. 16A26
July 27, 2010
Page 4 of 16
Date
711 312010 1:36 PM
Approved By
Natali Betancur
Administrative Assistant
Date
Transportation Division
Transportation Road Maintenance
711412010 1:02 PM
Approved By
OMB Coordinator
Date
County Manager's Office
Office of Management & Budget
711112010 1:35 PM
Approved By
Susan Usher Management /Budget Analyst. Senior Date
Office of Management &
Office of Management &Budget 7116!2010 1:08 PM
Budget
Approved By
Mark Isackson ManaaemenUBudget Analyst, Senior Date
Office of Management &
Office of Management &Budget 711612010 5:20 PM
Budget
Agenda Item No. 16 26
July 27, 2 10
Page 5 o 16
PROJECT: 60040 Golden Gate Boulevard
PARCEL No(s): 402RDUE
FOLIO No(s): 40933720006
I
EASEMENT AGREEMENT
THIS EASEMENT AGREEMENT (hereinafter referred to as the "Agreement ") is
made and entered into on this day of 2010, by and between
LORENZO SUAREZ AND ZORAIDA SUAREZ, his wife, whose mailing address is 8736
NW 139" Street, Miami Lakes, Florida 33018 (hereinafter referred to as "Owner "), 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 "Purchaser ").
WHEREAS, Purchaser requires a Perpetual, Non - Exclusive Road 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:
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.
Owner shall convey the Easement to Purchaser for the sum of:
$3,250.00
subject to the apportionment and distribution of proceeds pursuant to Paragraph 9 of
this Agreement (said transaction hereinafter referred to as the "Closing "). Said
payment to Owner, payable by County Warrant or funds wire transfer, 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.
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
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 of Closing:
(a) Easement,
(b) Closing Statement:
Agenda Item No. 16A26
Page 2July 2 7, 2f 10
(c) Grantor's Non - Foreign, Taxpayer Identification and 'Gap" Affidavit
(d) W -9 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.
5. 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 to the irrigation system in the event owner fails to relocate
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 Easement prior
to commencement of construction of the project shall be deemed abandoned by
Owner
This provision shall survive Closing and is not deemed satisfied by conveyance of
title.
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.
(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
Agenda Item No. 16A26
Page 3July 27, 2010
Page 7 of 16
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.
(f) 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 adversely 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 vicinity of the Easement to be sold to the Purchaser,
that the Owner has not received notice and otherwise 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.
Purchaser shall pay all fees to record any curative instruments required to clear title,
and all Easement instrument recording fees. In addition, Purchaser may elect to pay
reasonable processing fees required by mortgagees in connection with the execution
and delivery of a Release or Subordination of any mortgage, lien or other
encumbrance recorded against the property underlying the Easement, provided,
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.
Agenda Item Na. 16A26
Page 4Jr ly 27, 2010
Page 5 of 16
10. There shall be deducted from the proceeds of sale all prior year ad valorem taxes
and assessments levied against the parent tract property which remain unpaid as of
the date of Closing. Furthermore, in accordance with the exemptions provided for in
Section 201.01, Florida Statutes, concerning payment of documentary stamp taxes
by Purchaser, Owner shall pay all documentary stamp taxes required on the
instrument(s) of transfer.
11. 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.
12. 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, subject to the penalties prescribed for
perjury, 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.)
13. 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 all 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 or cancellation of this Agreement shall be of any force or
effect unless made in writing and executed and dated by both Owner and Purchaser.
14. 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.
15 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
Deputy Clerk
BOARD OF COUNTY COMMISSIONERS
COLLIER COUNTY. FLORIDA
BY
FRED W. COYLE, Chairman
AS TO OWNER:
DATED 2
tness Signature)
,,( I,)' ) I' �(�, ; , �( i
Name,(Pri or Type)
Witness (Signature)
Nr',I 1ki.(t ��r �l(i
Name (Print or Type)
Witness (Signature)
Name-(Print or Type)
`-
Witrr4sS (Signature)
016, ti
Name (Print or Type)
Approved as to form and
legal sufficiency:
Assistant County Attorney
LORENZ) SUAREZ
ZORAIDA SUAREZ
Agenda Item No. 16A26
Page 5July 27, 2010
Page 9 of '16
Agenda Item No. IGA26
2010
O of 16
27
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GOLDEN GATE BOULEVARD (CR 876)
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I L- PROPOSED ROADWAY EASEMENT
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PARCEL 402 RDUE
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- TRACT 121
GOLDEN GATE ESTATES
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LAND APPRAISAL REPORT '' °'h � 1
Fie, No Parcel 402CQ1� `.
Borrower Owner. Suarez ,._ Census Tract 112.02 Map Reference S7- T49 -R28' i'
Property Address 5/S Golden Gate Blvd
City Niles County Colter _ State. FL _ Zip Cade 34117
Legal Description Golden Gate Estates Unit 81 W 150Tt of I ract 121 _ _
Sale Price $NIA_ __ Date of Sam N/A _ Loan TefT N/A yrs. Prgpedy Rigms Appraised •. Fee —. Leasehold De Minlmis PUT
Actual Heal Estate Taxes $ 681 46 (yr) Lean charges to be said by relief $ N/A Other sales concessions N/A
Lender /Client Collier County Gov /Growth Management Div, Address 2885 South Horseshoe Drive- Naples FL 34104
_-
DCCOpant vacant _ Appraiser Harry Henderson. SEA Instructions to Appralser Estimate Markel Value Parent TracUPartial Take
Folio #40933720006 (Subject parent tract is unim roved
Location _ Urban �I Suburban Rucal
Good Avg. Fair Poor
High Up Over 759, 1my" to75° Under 15%
Employment Stability
Grown! Rate Fully Dev Rapid Steaoy Slow
Convenience to Employment ,
Property Values Increasing Stable 'Declining
Demand %Supply Shortage _ '.n Balance Oversupply
Convenience to Shopping
Convenience m Schools
Marketing Time Under 3 Mos 4 -6 Mas _ Over 6 Moe
Present Land Use 55% 1 Family _% 2 -4 Family 'to Apts. _uo Cantle % Commercial
Adequacy of Public Transportation
Recreational Facilities _
Industrial 45 %Vaoam %
Change in Present Land Use Nor Likely ^, Likely (`( _j Taking Place (`)
(`) From vacant To single - family
Predominant Occupancy E Owner Tenant or Vacant
Single Family Price Range 5 60,000 to S_ 210,000 _ PredomnaiI Value $ _115000
Single Family Age 1 yrs. to 25 yes. Predominant Age 10 yr5.
Adequacy of Utilities
Property Compatibility 1
Protection Item Detrimental Conditions X 1 _
Police and Fire Protection
General Appearance of Punched J X I LJ
Appeal to Market
view, eosa l :See attached addenda.
Comments including those factors, favorable or unfavorable, affecting inafketability leg- public parks, schools.
Dimensions 150 x 680 = 2.34 Sp. Ft. of Acres ! I Corner tot
Zoning classification Estates (225 acre conforming lot size mint _ Present Improvements 'N do Al do not conform to zoning regulations
Highest and best use 1 I Present use ' "� Other (sonsy) Eventual single- ramify development.
Public Other (Describe) OFF SITF IMPROVEMENTS ITopo Level
Ell Street Access t1,Public [ Private ISize Compatible w in area
Gas - _. - -_ —.. Surface Macadam Shape Rectangular
-
Water Maintenance ; Public Plivater New Neionborhood
San Bawer Storm Sewer Corb/Gutler .Drainage Appears to be adequate
[.I Underground Elect &Tel Sidewalk ��. Street lights I is the property located In a HUD Identified Special Flood Hazard Arm? (_]NO_IYes
Comments davordble or unfavorable rowel any apparent inverse easements . encroachments. or error adverse secretary) Zone D, Comm #120067CO25DG, did 11/17/05
No adverse conditions observed Typical roadway and /orparemetef utility executed the site:. these are common in the area and do
al l impact value. -
The rebalanced has stoned three recent Sales of sesames most similar and proximate to &il 01d has roughened Riess In the market analysis Tire description Includes a dollar
adlusimem reflecting marvel reaction to these items of Prot wormer between Ore subject our comparable properties If a significant Lane it the comparable property is supener
to or more favorable than the subject ptepeny. a minus I -I adlttetmenl in might thus led cim, the Indl4ated Value of subject li a slgnlrlGam Item IIt the comparable 6 interior to nr less
favorable than the subject property, a plus (s ) adjustments marginal inconsumable indicated value of the subject
REM _ SUBJECT PROPERTY _
Adtlress S/S Golden Gate Blvd
COMPARABLE GO.1
S/S 22nd Avenue NE
COMPARABLE N0.2
COMPARABLE N0.3
__.
N'S 56th Avenue NE
3421 56th Avenue NE
Na les FL "54120
m to Sub act
0 49 mires N _
1 94 miles W
FL 34120
1 82 miles SW _
SRle95it
lice 4_ N/A
_ -
n1
$ 1_58 ac
10.852/ac
Fee 9
$
MLSd2
DESCRIPTION r +- 158,000
Foust
_
Data Source
MLS #2090332_84
_
pESCRIPTION +i SAtl Adjust
MaS #20F _
DFSC.RIP "ION +I -'$Ado sl
Date ofr5am and
_
DFSCRIPTION
Time Adlusiment
N/q
r.
3110 1 3/10
_-
Ralph tar
2 73 acro5 n $ /ac 2 73 acres in $lac
—
3110
Location
Similar
2 58 acres m $ /ac
—
SAP Vievr
2 34 acres
I0 0 a h
g
E/natural
states
Levelmatural Level/natucal
Estates Estates
Level /natural
t Estates
Cash or Equm_
Sales or Financing
: N/A
Cash or Lewis . f osn of PQL1lc
Concessions
$- --
Nett_A�OO1A _
_
- _tea _ —_ -- _ S _-_
Indent etl Value
of Sub led
S 9.158 $ 7 -143
5 10852
Comments on Markel Data See attached addenda.
Comments and Conditions o) Appraisal SulLd_ and comps are compared on a $ acre unit price basis Parent tract Land Value_ 2.34 acres x
$9.5001acre = 522300
See attached Lim lung Conditions.
Final Reconciliation Taking parcel :.13 acres x $9 500 = $1,235 No site I�rovements no damages _
Total Compensation: 57.235 _
1 ESTIMATE THE MARKET VALUE. AS DEFINED, OF SUBJECT PROPERTY AS OF May 28 2010 to he S 1.235
Harry Henderson SRA _ _ Did I Din Not Physically Inspect Property
Aproaisertsl Review Appraiser lit Smell
�Y2K( Collier County Government
Form LN'C— "WmTOTAL' appraisal software by a Is mode, mac. —1- 800 - ALAMDDE
16A26
7, 2010
2Gf16
Supplemental Addendum
Ma llle, o, d59P �a ii e�� . 16A26
File No Parcel 402RDUE July 27, 201O
13 of 16
Borrower /Clart Owner: Suarez
Propery
Address S/S Golden Gate Blvd
City
Naples _ County Collier State FL Zip Code 34117
Lender
Collier County Gov/Growth Management Div.
• Land : Neighborhood Market Factors
The subject is located in an outlying section of developed Collier County in the Golden Gate Estates area on Golden Gate
Boulevard. Golden Gate Estates is a sprawling pre- pladed subdivision consisting of acreage -type single- family homesites
(1.14 to 5 acres typically) in a semi -rural setting. Essential services are within a 35 minute drive into greater Naples to the
west Maintenance levels in the area are generally average.
• Land : Market Data
The subject and comps are compared on a unit /price ($ /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 sales 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 $7,143 /acre to $10,852 /acre; given the comparison criteria discussed, a unit price of
$9,500/acre is selected as reasonable for the underlying unit /price value for the parent tract lands.
Parcel 402RDUE
The subject parcel is a 38 ft -wide ROW strip located on the south side of the parent tract along Golden Gate Boulevard. The
size of the taking parcel is 5,700 sf or .13 acres. At the appraised unit /price of $8,500 /acre the subject parcel has a direct land
value of $1,235. No site improvements or damages are associated with this taking parcel. The subject parent tract is
unimproved.
The Total Appraised Compensation associated with the taking of parcel 402RDUE is estimated to be:
235.
Form TADD — "WInTDTAL" appraisal scftware Dy a la mode. Inc. — 1800- ALAIOODE
IMain File No. elc�l9 -Mh e #—!
y.,fr a , PI I I . 16A2D
July 27, 2010
Page 14 of 16
DEFINITION OF MARKET VALUE: The mast probable price which a property mould bring in a competitive and open market under or eonditeme;
requisite to a lair sale the buyer and seller each acting erutlently, Cawledgeahly and assuming Me price Is net affected by undue stimulus. Implicit In this
defended is the consummation of a sale as of a Sardines sate and me passing of title from seller td buyer under conditions whereby'. It; buyer and seller are
typically motivated. (2) bath Dallas are well unarmed or well advised. and each acting In what ne considers his own best interest, O) a reasonable time is allowed
tot 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 concessul granted by anyone associated with
me sale
'Adjustments to the 6omparables must be made for speciou or creatve financing or sales concessions. No adfu licents are necessary
for those oasts which are normally paid by sellers as a msuh of tradition of law in a market area', these coals are readily identifiable
since the seller pays these costa in vioually all sales rensacless. Special or creative financing adjustments can be made to the
comparable property by comparisons to financing terms plural by a third parry institutional lender that is not already involved in the
property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cast of the financing or concession
but the dollar amount of any amendment should approximate the markets 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 apmalser's rerthmaued that appears In the appraisal report Is subject N the following
conditions'.
1. TDB appraiser will not be esponsfble for matters of a legal nature that affect either the property being appraised of the true to it. The appraiser assumes that
the title Is good and marketable and therefore, will nor render any opinions about the title- The pmpeny is appraised on the basis of it being under responsible
ownership.
2 Tore appraiser has Fel lded a sketch in the appraisal report to Shaw approximate dimensions Of the improvements and the sketch is included only to assist
the reader of the report in vlsuafvfng the property and understanding the appraiser's determination of its sure.
3. the appraiser has examined the available flood maps that are province 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 Harmer 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 m 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 or the land in the cost approacn 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 conjunctmn 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 heeded repairs, oepreeiation, the presence of haramous wastes, toxic
substances, eta) observed during the depechon of the subject property or that he or sne became aware of during the normal research involved in performing
the appraisal. Unless otherwise stated in the appraisal Sport appraiser has is knowledge at any hidden or inapparent conditions of the pmpeny or
adverse environmental conditions (including the presence of haramous wastes toxic substances etc_) that would make the property more or less valuable and
has assumed that there are no such comlihons and makes no guarantees it warranties express or implied, regarding the condition of the shelf The
appraiser will nut be responsible for any such conditions final do exist or for any engineering or trying that might be required to nuclear whether such
condition exist. Because the appraiser Is not an expel in the field of environmental islands the appraisal deceit must nor be considered as an
environmental assessment of the pmperty.
7 The appraiser obtained the informallon, estimates and opinions that were expressed it tee appraise report from sources loaf ne or sne considers Is be
reliable and believes them to be. true and correct The appraiser does not assume responsibility for the accuracy of Such Items last were furnished by ether
strong
8 'he appraiser wil not disclose the contents of the appraisal report except as provmec for In the Itndorm Standards of Professional Appraisal Practice.
9. The appraiser nos based ms or net appraisal report and entered cdnciusion far an appraisal that is subject to satisfactory camp @hoc, repairs, or
operations on the assumption that compliance. at the improvements will Ito Tertptmes in a wosinarrlke manner.
16 The appraiser must provide his a, net offer writen consent berms the lenderoucot specified m me appraisal report can distribute me appraisal report
(Including conclusions about the property value, me appraiser's Identity and commonest designators, and references to any professional appraisal
mcranrzations or the hem wine which the appraiser is associated) to anyone other than the borrower the restrictions of Its successors and assign, the mortgage
insurer consultants, professional appraisal organisations, any state of federally approved financial institution, or any departmern agency, or Instrumentality
of the United States o, any sate or the 9letrim of Columbia . except that me Imde7 hurt may else Lute me pmpeny description section of the reader only to data
collection of reAortmg service(s) without crying to obtairr me appraiser's offer worse consent. The amccusera written consent and approval must also
he obtained before me appraisal can be conveyed by anyone to the public through advemsmg, public fortune. news sates, or other media.
Freddie Mac Form 439 6x93 Page 1 of 2 ranee man form iuuvu u -De
Collier County Government
Form ACA — ^WInlMAL burg Sal software by a la moan Inc . -' —BOO Q AMORE
Ma n File No. a Jgp e 1I
July 27, 2010
Page 15 of 16
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 at progenies most similar and nroximate to 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 of significant
variatlon. It a significant item in a comparable property is superior to, or more favorable than, the subject property. I have made a negative adjustment to reduce
the adjusted sales price of the comparable and N a significant Item in a comparable property is inferior to. or less favorable than the subject property, I have made
a positive adjustment to increase the adjusted sales price of the comparable.
2_ 1 have taken into consideration the factors that have an impact an value in my development of the estimate of market value in the appraisal repod I have not
knowingly withheld any significant information from the appraisal repel and I believe, to the hest of my knowledge, that all statements and information in the
appraisal report are true and correct.
3. 1 stated in the appraisal report only my awn personal, unbiased, and professional analysis, opinions. and conclusions, which are subject only to the contingent
and !trading conditions specified in this form.
4. 1 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 partially or completely, my analysts and /or the estimate of market value in the appraisal report
on the race, color, religion, sex, handicap, familial status, or national origin of either the 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. 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 is equal 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 parry, the amount of the value estimate,
the attainment of a specific reear, or the occurrence of a subsequent event In order to receive my compensation and /or employment for performing the appraisal. I
did not base the appraisal repel on a requested minimum valuation, a specific valuation, or the need to approve a specific mortgage loan.
7. 1 performed trip 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 apply. I acknowledge that an estimate at 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 time 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 at the subject property and the exterior of all pmpentes listed as comparables in the appraisal round
I tuner certify that I have noted any apparent or known adverse conditions In the 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 properly value to the extent that
I had market evidence to supper them. I have also commented about the street of the adverse conditions on the marketablltry, of the subject property.
9. 1 personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. If I relied an significant professional
assistance from any individual or indlvjduals in the performance of the appraisal or the preparation of the appraisal report I have named such Individualjs) and
disclosed the specific tasks performed by them In the reconciliation section of this appraisal report . I certify that any individual se named Is pual'died to perform
the tasks_ I have not authorized anyone W make a change to any item in the report, therefore, if an unauthorized change Is made to the appraisal repon, I will take
no responsibility for it
SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report , he or she cenifies 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 taking lull responsibility for the appraisal and the appraisal report .
ADDRESS OF PROPERTY APPRAISED: S/S Golden Gate Blvd, Naples FL 34117
APPRAISER: SUPERVISORY APPRAISER (only if required):
Signature: _
Name'. Harry Henderson, SRA
Date Signed May 28. 2010
State Certification # -. RD3475 _
or State License #:
State'. FIL - ...._.
Expiration Date of Codification or License. 11130/10
Signature'.
Name.
Date Signed'. _
State Certification #'.
or State I tempo ##.
State.
Expiration Date of Ce
or License.
[. Did Did Not Inspect Property
Freddie Mac Form 439 6 -93 Page 2 of 2 Fannie Mae Form 10048 6-93
Form ACE— "WinTOTAl." appraisal software by a to mode. me — I- 800- ALAMODE
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