Loading...
Agenda 07/27/2010 Item #16A30Agenda Item No. 16A30 July 27, 2010 Page 1 of 16 EXECUTIVE SUMMARY Recommendation to approve the purchase of a road right -of -way, drainage and utility easement (Parcel No. 242RDUE) required for the expansion of Golden Gate Boulevard from two lanes to four lanes between Wilson Boulevard and DeSoto Boulevard. (Project No. 60040.) Estimated fiscal impact: $10,450. OBJECTIVE: To obtain the approval of the Board of County Commissioners for the purchase of a road right -of -way, drainage and utility easement required for the expansion of Golden Gate Boulevard from two lanes to four lanes between Wilson Boulevard and DeSoto Boulevard. CONSIDERATIONS: The subject easement parcel is located on the southwest quadrant of the intersection of Golden Gate Boulevard and 16' Street SE (Unit 48, Golden Gate Estates) and comprises 14,853 square feet of an improved 2.73 acre parent tract. The Growth Management Division's Review Appraiser, Harry Henderson, SRA, has prepared the attached appraisal of the subject parcel and has estimated its current market value to be $4,580. This amount includes improvements of $1,000 located within the area of the parcel and is based on most recent comparative sales data, which indicate a unit value of $10,500 per acre. The current / 2009 assessed value of the parent tract is $27,500 per acre and, based on this value, the value of the subject parcel is $10,380 inclusive of improvements. On June 8, 2010, Growth Management staff mailed a letter to the owners, Krista and John Irizarry, inviting them to call to discuss the sale of the required easement to the County. Mr. Irizarry responded within a few days and requested information on current land values and inquired what the County was willing to pay. Through continued negotiations and after staff provided him with information on current market values and the current / 2009 assessed values, he stated that he and his wife were willing to sell the subject parcel to County for $10,000 (based on the current / 2009 assessed value). The attached easement agreement for this amount was prepared by staff and has been reviewed by the County Attorney's Office. Staff is recommending that the Board of County Commissioners purchase the required easement for the purchase price of $10,000 and believes there are compelling reasons to do so. First, this is not a distress sale. The property owners can afford to wait for the market to improve. There are no attorney fees and Mr. and Mrs. Irizarry are cooperating with staff. If we delay this acquisition for several years until construction is imminent and are forced to take the easement through condemnation, the cost of doing so would far exceed the owners' current asking price. Furthermore, if we delay 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 parcel than what the owners are seeking today. Finally, 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 are being taxed by the government. The easement agreement was negotiated at the current / 2009 assessed value prior to the publishing of the preliminary 2010 assessed values on July 15 "' Agenda Item No. 16A30 July 27, 2010 Page 2 of 16 FISCAL IMPACT: Funds in the amount of $10,450 will be paid from road impact fees. This amount includes title work and recording costs estimated at $450. GROWTH MANAGEMENT IMPACT: This project is consistent with the Long Range Transportation Plan and the Collier County Growth Management Plan. LEGAL CONSIDERATIONS: This item has been reviewed by the County Attorney's Office and is legally sufficient for Board approval. RNZ RECOMMENDATION: Based on the above considerations, Growth Management staff is recommending that the Board of County Commissioners of Collier County: 1. Approve the attached easement agreement and authorize its Chairman to execute same on behalf of the Board, once a properly executed agreement has been received from the property owner and reviewed and approved by the office of the County Attorney; 2. Accept the conveyance of Parcel 242RDUE to Collier County and authorize the County Manager, or his designee, to record the easement instrument 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: Robert Bosch, Right -of -Way Coordinator, Transportation Engineering Attachments: (1) Easement Agreement with Exhibit "A "; (2) Location Map; (3) Appraisal Report (4) 2009 Final Tax Roll Agenda Item No. 16A30 July 27, 2010 Page 3 of 16 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS Item Number: 16A30 Item Summary: Recommendation to approve the purchase of a road right -of -way, drainage and utility easement (Parcel No. 242RDUE) required for the expansion of Golden Gate Boulevard from two lanes to four lanes between Wilson Boulevard and Desoto Boulevard. (Project No 60040.) Estimated fiscal impact: $10,450. Meeting Date: 7/27/2010 9:00:00 AM Prepared By Robert Bosch Right Of Way Coordinator Date Transportation Engineering & Transportation Division Construction Management 7112/2010 11:49:43 AM Approved By Gary Putaansuu Project Manager, Principal Date Transportation Engineering 8 Transportation Division Construction Management 7/1212010 1:15 PM Approved By Kevin Hendricks Manager - Right of Way Date Transportation Engineering & Transportation Division Construction Management 7112/2010 1:23 PM Approved By Lisa Taylor Management /Budget Analyst Date Transportation Division Transportation Administration 7112/20101:47 PM Approved By Robert N. Zachary Assistant County Attorney Date County Attorney County Attorney 7/12!2010 2:31 PM Approved By Jeff Kiatzkow County Attorney Date 7112/2010 3:45 PM Approved By Nick Casalanguida Director - Transportation Planning Date Transportation Division Transportation Planning 711 21201 0 4:29 PM Approved By Norm E. Feder. AICP Administrator - Transportation Date Transportation Division Transportation Administration 7/1312010 1:28 PM Approved By Najeh Ahmad Director - Transportation Engineering Date Agenda ',,em No. 16A3O July 27, 2010 Page 4 of 16 Transportation Engineering & Transportation Division Construction Management 7/13/20101:34 PM Approved By Natali Betancur Administrative Assistant Date Transportation Division Transportation Road Maintenance 7114/2010 9:18 AM Approved By OMB Coordinator Date County Manager's Office Office of Management & Budget 7/1412010 10:15 AM Approved By Susan Usher ManagementlBudget Analyst, Senior Date Office of Management & Budget Office of Management & Budget 7/19/2010 9:05 AM Approved By Mark Isackson ManagementlBudget Analyst, Senior Date Office of Management & Budget Office of Management & Budget 7/1912010 10:01 AM PROJECT: Golden Gate Blvd. No. 60040 PARCEL No(s): 242RDUE FOLIO No(s): 39210380002 Agenda Item No. 16A30 July 27, 2010 Page 5 of 16 ROAD RIGHT -OF -WAY, DRAINAGE AND UTILITY EASEMENT AGREEMENT THIS ROAD RIGHT -OF -WAY, DRAINAGE AND UTILITY EASEMENT AGREEMENT (hereinafter referred to as the "Agreement ") is made and entered into on this _ day of 2010, by and between KRISTA L. IRIZARRY AND MARCIAL JOHN IRIZARRY, wife and husband, whose mailing address is 105 16" Street SE., Naples, FL 34117 -9413, (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 2. Owner shall convey the Easement to Purchaser for the sum of: $10,000.00 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) Road right -of -way, drainage and utility easement, (b) Closing Statement, Agenda Item No. 16A30 Page 2July 27, 2010 (c) Grantor's Non - Foreign, Taxpayer Identification and "Gap' Affidavit; Page 6 of 16 (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. 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. (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 encumbrance, or agreement, which consent for any reason whatsoever. Agenda Item No. 16A30 Page Vuly 27, 2010 Purchaser to such conveyance, Page 7 of 16 may be withheld by Purchaser (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. 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, 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. 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. Aaenda Item No. 16A30 Page 4July 27. 2010 Page 8 of 16 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: BOARD OF COUNTY COMMISSIONERS DWIGHT E. BROCK, Clerk COLLIER COUNTY, FLORIDA BY Deputy Clerk FRED W. COYLE, Chairman AS TO OWNER DATED: Witness (Signature) Name (Print or Type) Witness (Signature) Name (Print or Type) KRISTA L. IRIZARRY Agenda Item No. 16A30 July 27, 2010 Page 5 Page 9 of 16 Witness (Signature) JOHN MARCIAL IRIZARRY Name (Print or Type) Witness (Signature) Name (Print or Type) Approved as to form and legal sufficiency: re—Robert Zachary Assistant County Attorney C6M neN..d'r)1a/i0 8 v OF - COIA W MCNCEIAE Ni o I'l)Iti :1 -1 ^a' IiEGINN NG r x _ 8 _ I I - 5 rucT Ia S II d I i TRACT 134 x x GOLDEN GATE BOULEVARD (CR 876) 116.20 '.21.00 128,00 589'31'58 "W 277')5' PROPOSED ROADWAY EASEMENT PARCEL 242 RDUE I1502 sa FI .LSI LIE OF EAST 50 OF IRACI NORTH 340 OF TRACT P LARRY OR 393 "./407'. TRACT 135 GOLDEN GATE ESTATE UNIT 48 PLAT BOOK 5 PAGE 78 LI LIOTI 5+ OR 2237%761 - 129 +00 —4- - SCHUH IIN[ OF NORTH 50 OF TRACT 55 N of of I Ro ut 1-1.11, July TRACT 19 N I W _ E S TECM - ROW FEB 0 i 2010 = LwE NBEna �c __ i- LENGTH SO. I I SC1ARE FEET —_ 2R 0,FCA_ RECORDS IBOGK /T'AaFI __.1 500'29'48 "E 50.00' '_2 1 500'29'36 °E 78.07' H' >POPQSD ROADWAY EASEMENT l.} N4S'28'07 "W 4244' _ —_ P T X S NG ROADWAY F ASP M NI DLDICNLD ) 1, iF q °ER -FtUAL - -_L4 N0O'2948 "W 48.00 OF THC LB,IC PER I C . BOOK , ACS LEGAL DESCRIPTION FOR PARCEL 242 RDUE A I ORIIUN 01 IRAC' Ou)FN - °;TAT ES, 'JOT 48 A f :, R';i3 N TLAI BOOK 5. PAGE 78 OF LIL PUB'_'C R RDS OF C01 1,R ;:DUN F_ORIDA. LYING IN SF,-,'ION 2, TOWNSHIP 49 SOUTH, RANGE 27 EAST, COH IFR COUNTY. FLORIDA, B'.:ING N. F -'ART:CJIAR )FS -RIBLD AS FOIIUWS COMIMENCING AI I11 NORTHWEST r,CpULR CI n TAT THFNCF S CD '9 48 ', A ONG -F1' WF jAID IRACT 35, FOR SO DO I EE7 TO A FIOINT ON JUL SOUTH '_INE OF'HE NORfF_ SO -FF F zA;D TIA , AN J IHE POINT OF BEGINNING OF 'FIE HEREIN DESCRIBED PARCFI +FNrr IN n9 3' .,8"E a )N, SALT ] lS INF, -0P .,J O6 F F' 10 A Pr) N' ON THE WEST LINE OF 'H[ FAS 50 LEFT CF SAC TRACT LNCE ` ?9'36 "E.. !L TI SAID ALIT LAE. 1 F L, En =LL, H - NCF K.: S 11E 07'A R:R 4,' 44 :FIT 'ITT Nr(- , S '1'3 1 58 "W Ft b R , ", i I L1 10 A F N .),' ('N S N -HC WL �_�NL OF SAID TRACT 135: ELL' N 0 ^'T1'4H "W, A JOS TAD +F ' LINE, FOR 48.00 !EEL 10 I-I_ POINT OF BEGINNING OF '.HE HEaFN DEVCRI.SED „H__ CCU " /d NrNG �S` SOUARE LIFT, VERF OR '..ESS e . o 40 so 180 — — - u SKETCH & DESCRIPTION ONLY D. AROM SONu u sRV DR & u PPER aaalw a[nsraenou FIC�1E Na. swi NOT A BOUNDARY SURVEY scAt.e. 7' -8o' scarce wtu A //p FOR. COLLIiR CD'J.NIY DDVERNMF.NT HOARD OF COUNTY COMMISSIONERS ao` valo wlaour ED FRlE s tuxE Russ9 Ef`A1. O sFa OF E"R R[CISt[PEA {PTa�o EE`55`10N/.iTSIAvEYOa NIR W.PPER. SKETCH &A DESCRIPTION BOULEVARD PROPOSED ROADWAY EASEMENT CON ULTRR'FO �%,I 1 \ I T1 1 9amyy &VAI PARCEL 242 RUDE n1o...— N..O—1 Salle no COLLIER COUNTY, FLORIDA Pnore. @3 N -PI88 Fw,m 30109 91591$]5 FM 039) 59] -0578 -13. fi95P 1J b UMBLK �V610N �L�ION TOWN P RAF.,: „ALE DATE AMA WN Hl ESE NAME SHFFi L J7 J JE 0 R"V 0 2 43 . - = 6'1 2009 5 D._ SK 242 Of 1 6,x.30 2010 oT '16 I " I _r AM 4V 4 1 x �i fNZ �: s it s D' v y� x 4 F' iM 6 Y -. . t T I� ^fir i PV 'Ev M1Y Vet 4 � .Yy �:pp - y�..,: r I " I _r AM 4V 4 1 x �i fNZ �: s it s D' v y� x 4 F' iM 6 Y -. . t T I� ^fir i LAND APPRAISAL REPORT M in No 45`5 ' '��N�O 16A30 File No. Parcel 242�,ij 27, 2010 2of16 Borrower Owner truppe v Census Tract 112.02 Map Reference 11 T49 -R27 Property Address 105 16th Stt E City Naples County Collier __ State FL Zip Code 34117 Legal Description Golden Gatates Unit 48 N1/2 ofTract 135 Sale Price S N/A te o1 Sale _N /A Loan Tenn N/A _ yrs. Property Rights Appraised ❑I Fee L _ I Leasehold __ 1 De Minimis RED Actual Real Estate Taxes $ 278(yr) Loan charges to be paid by seller $ N/A Other sales concessions N/A Lender /Client Collier County /Transportation Division Address 2885 South Horseshoe Drive, Na les FL 34104 Occupant owner Appraiser Harry Henderson, SRA __ Instructions to Appraiser Estimate Market Value Parent Tract/Partial Take Folio #39210380002 suti im roved with a sin le -famil home, valuation of land and affected im rovements onl Erosion Urban r❑ Suburban Rural Good Avg. Fair Poor Built Up I Over 75% a25 %to 75% _ Under25% Employment Stability Growth Rate ❑ Fully On Rapid Steady r Slow Convenience to Employment _ Property Values Increasing Stable ❑' Declining Convenience to Shopping Z ❑ _ DemandlSUpply Shortage 1 In Balance ❑ Oversupply Convenience to Schools F ® ❑ L-1 Marketing Time Under 3 Mos. 1 4 6 Mos ❑ Over 6 Mos. Adequacy of Public Transportation ❑ ® ❑ ❑ Present Land Use 60 %1Fa%2- 4Family _%Age, _ %Condo 5 %Commercial Recreations) Faculties ❑ © ❑ ❑ %Indus35 %Vacant % Adequacy of Utilhies _ Change In Present Land Use Not Likely _ Likely (') Taking Place (`) PropeM Compatibility ❑ ❑ ❑ ❑ From vacant To single- family Protection from 0etdmemal Conditions ❑ �' ❑ ❑ Predominant Occupancy Owner r Tenant _ %Vacant Police and Fire Protection [ ® ❑ ❑ Single Family Price Range 00 _ to $ 340,000 Predominant Value $ 150,000 General Appearance of Properties x [ ❑ Single Family Age 1 yrs. to_ 30 yrs. Predominant Age 10 yrs. Appeal to Market ❑' ❑ ❑ noise) Sao attached addenda. Comments Including Nose lacthrable or unfavorable, attdoing marketability (e g. public parks, schools, view, Dimensions 180 x 660 = 2.73 Sq. Ft. or Acres Carper Lot Zoning classification Estates (2.25 acre conforming lot size min.) _ Present Improvements � do ❑ do not conform to zoning regulations Highest and best use ❑ Present use ]Other (specify) Public Other (Describe) OFF SITE IMPROVEMENTS '.Theo Level Public r Private II Shap Compatible with area Elea. Street Access P _ Shape Rectangular Gas � Surface Macadam _ _ _ Water ❑ Maintenance \ Public Private View Nei hbomood Bar. Sewer Storm 52WCr Curt/Gutter Appears to be ado uate (Drainage Underground Elect BTel -1 Seawalk I Sireetlyhts_ Is the property located in a HUD Ideal Special Flood Hazard Area? ❑Noj :Yes Comments (favorable or unfavorable including any apparent adverse easements. encroachments. or otheradverse conditions)'. Zone D, Comm #120067CO25OG, did 11/17105 No adverse conditions observed Typical roadway andor parameter utilit easements exist on the site' these are common in the area and do not imQact value. -. The undersigned has recited three recent sales of supposes most similar and Lodmas to subject and has Considered these in the market analysis- The description includes a dollar adjustment reflecting market reaction to those items of significant variabon behveen the subject and comparable properties. If a significant item in the comparable property is superior to or more favorable than the subject progeny a minus O adjustment is made !bus reducing the indicated value of subject. 4 a significant Rem in the comparable is inferior to or lass favorable than the subject property , a plus ( +) adjustment is made thus increasing the indicated value of the subject. ITEM SUBJECT PROPERTY„ COMPARABLE NO._f_ COMPARABLE N0.2 COMPARABLE N0.3 Address 105 16th Street SE SIS of 24th Avenue NE W/S of 12th Street SE S/S of 4th Avenue NE Na Ies, FL 34117 Naples FL 34120 Naples, FL 34120 Naples, FL 34120 Proximit to Suhect , _.. 0.49 miles N 1,94 miles W 1.82 miles SW Sales Price $ N/A 10,0881ac 10.252/ac 11,8941ac Price Gross $ $ 11,500 16,300 27,000 Data $rprre DESCRIPTION MLS #209035064 MLS #207012555 MLS #209024974 _ Date of Sale and T __.. _ +I )SAtliust. DESCRIPTION - Adjust DESCRIPTION +- Adjust. Time Adjustment N/A ,DESCRIPTION 2/10 11/09 12/09 LUCded GGE Similar Similar Similar SifeNiew 2.73 acres 1.14 acres in $ /ac 1.59 acres m $lac 2.27 acres in $lac To o raph_v Level /natural _ Level /natural Level /natural _ Level /natural Estates Estates _ Estates _ Zenlnq Estates Sales or Financing N/A Cash or Equiv. Cash or Equiv. Cash or Equiv. Concessions Net Ad. otal r - S + - $ Indicated Value _ Of Subject S 10,088 $ 10.252 $ 11,894 Comments an Market Data'. See attached addenda. Comments and Conditions of Appraisal Summand comps are compared on a $/acre unit price basis. Parent tract Land Value: 2.73 acres x $10,500iacre= $28.700(rounded). See attached Limiting Contlitiens. Final Reconciliation) Taking parcel 341 acres x $10,500 = $3.580, Site Improvements /Minor Cure: .$1,000 Total Compensation: $4.580 _ I eairMRTF THE MARKET VYWE, AS UErreEU, ee SUBJECT PfleYENTY AS Or _ May 28 2010 to be $ .4.580 Harry Henderson, SRA _ Did _i Did Not Physically Inspect Property Appralser(s) Review Appraiser (if applicable) N?K) Collier County Government Form LND — "VVinTOTAL' appraisal software by a Is mode, Inc. —1- 800- AI.AMODE Supplemental Addendum Main File N4: :-.yciiva frerrnw. 16A30 File No Parcel 242RDUE July 27, 2010 Borrower /Clierrt Owner Idza 13 Of 16 try Prope Adorers 105 16th Streal SE Ci Na les County Collier State FL Zip Code 34117 _ Lender Collier County Gov /rransportalion Division • Land : Neighborhood Market Factors The subject is located in the central part of unincorporated Collier County in the Golden Gate Estates area on the corner of 16th Street SE and Golden Gate Boulevard. Golden Gate Estates is a sprawling pre - platted subdivision consisting of acreage -type single - family homesnes (1.14 to 5 acres typically) in a semi -rural setting. Essential services are within a 30 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 unitiprice S /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 $10,088 /acre to $11,894/acre; given the comparison criteria discussed, a unit price of $10,500 1acre is selected as reasonable for the underlying unit /price value for the parent tract lands. Parcel 242RDUE The subject parcel is a mostly 48 fl -wide ROW strip located on the north side of the parent tract along Golden Gate Boulevard plus a corner clip along 16th Street SE. The size of the taking parcel is 14,853 sf or .341 acres. At the appraised unit/price of $10,500 /acre the subject parcel has a direct land value of 3,580. The taking parcel also includes very minor site improvements which have an estimated contributory value of $1,000. (Note that some existing site improvements such as a low berm and an area of graded terrain are located within the existing ROW and are therefore not valued). In the Post -take condition, the subject property will have sufficient front yard area (distance from new ROW line to front of dwelling) for continued /undiminished residential utility of the property. No measurable damages to the remainder will result from this taking. The Total Appraised Compensation associated with the taking of parcel 242RDUE is estimated to be: $4.580 (rounded) Form 1ADD — "WinIDTAL" appraisal software by a la made, no — 1 800- ALAMODE MareFagNS.R5t ti e 16A30 July 27, 2010 Page 14 of 16 DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specihed date and the presume of Title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated) (2) both carries are well informed or well advised, and each acting in what he considers his own hest interest', (3) a reasonable time is allowed for exposure in the open market', (4) payment is made in forms 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 compambles must be made for special or creative financing or sales concessions. No adjustments are necessary for those casts which are normally paid by sellers as a result of tradition or law in a market area', these costs are readily identifiable since the seller pays these costs in vinually all sales transactions. Special or creative financing adjustments can be made to the comparable properly by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property at transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount at any adjustment should 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 ceniticahon teat appears in the appraisal report is subject to the following conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it The appraiser assumes that the tine is good and marketable and thrusters, will not render any opinions about the title. The property is appraised an the basis of it being under responsible ownership. 2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its sire. 3. The appraiser nos examined the available flood maps that are provided by the Federal Fmergency Management Agency (or other data sources) and has noted in the appraisal report whether the subject site Is located in an mentitied Special Flood Hazard Area. Because the appraiser Is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear In Chun because he or she made an appraisal PI the properly in question, unless specific arrangements to do sic 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 it they are so used 6. The appraiser has noted in the appraisal report any adverse conditions Sued as needed repairs, depreciation. the presence of hazardous wastes, topic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the normal research involved in performing the appraisal. Unless otherwise stated In the appraisal repon, the appraiser has no kccwledge of any hidden or unapparent conditions of the property or adverse environmental conditions (including the presence of hazardous wastes, have; substances etc.) that would make the property more or less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied, regarding the condition of the property- The appraiser will net be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such continues 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 respnsbhny for the accuracy of such items that were furnished by other parties. 8 The appraiser will not disclose the contents of the appraisal soon except as provided lot in the Uniform Standards of Professional Appraisal Practice. 9. Tub appraiser has based his or her appraisal raper and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or diamonds on the assumption that completion of the improvements will be performed in a worxmanllke 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 replacing conclusions about the property value, the appraiser's identity and professional designations, and references to any professional appraisal organizations at the firm with which the appraiser is associated) To anyone other than the borrower, the mortgagee or its successors and assigns, the mortgage insurer consultants, professional appraisal organizations, any state or federally appmvec financial mstiation '. or any department, agency, or instrumentality of the Untied States or any state or the District of Coetmoia except that the lenderlclient may distribute the property desmiph'en section of the report only to data collection or reporting servme(s) without having to obtain me appraiser's prior written consent . The appraisers written consent and approval must also be obtained before the appraisal can be conveyed by anyone to the public through ahvenismg, public relations, news, sales, or other media. Freddie Mac Form 4396 -93 Page t of 2 Fannie Mae Form 1004B 6 -92 Collier County Government F Penn ACR — "WinTOTAU appraisal software by a Is mode, inc. — 1 -800 ALAMODE Main File No Rame1242ADU61 Pace , # l , 0I 16A30 July 27, 2010 Page 15 of 16 APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that 1. 1 have researched the subject market area and have selected a minimum of three recent sales of properties most similar and proximate to the suhiert property for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the market reaction to those Items at significant variatjon. If 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 or the comparable and, if a significant item in a comparable property is inferior to, or less favorable than the subject property, I have made a posdlve adjustment to increase the adjusted sales price of the comparable. 2. 1 have taken into consideration the factors that have an impact on value in my development of the 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 knowledge, that all statements and information in the appraisal report are true and correct. 1 1 stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the contingent and limiting conditions 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 partially or completely, my analysis 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 contingent an the appraised value of the property. 6. 1 was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the 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 employment for performing the appraisal) 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 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 excepden of the departure prevision of those Stantlartls, which does not apply I acknowledge that an estimate of a reasonable Ilme 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 properties listed as comparables in the appraisal report. I further certify that I have noted any apparent or known adverse conditions in the subject improvements. on the subject she, 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 at the property value to the extent that I had market evidence to support them. I have also commented about the effect of the adverse conditions on the marketability of the subject property. 9. 1 personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal repod. It I relied on significant professional assistance from any individual or individuals 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 so named is qualified to perform the tasks. I have not authorized anyone to make a change to any hem in the report ', therefore, if an unauthorized change is made to the appraisal report , I will take no responsibility for it SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report , he or she certifies and agrees that I directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report, agree with the statements and conclusions or the appraiser, agree to be bound by the appraiser's certifications numbered 4 through 7 above, and am taking full responsibility for the appraisal and the appraisal report . ADDRESS OF PROPERTY APPRAISED: 105 16th Street SE Naples FL 34117 APPRAISER: SUPERVISORY APPRAISER (only if required): Signature: Name'. Harry Henderson SRA _ Date Signed'. May 28 2010 State Certification or State License #:_ State. FIL _ Expiration Date of Certification or License'. 11130/10 Signature: Name. Date Signed. _ State Certification #. or State License #. _ - State Expiration Date of Certification or License'. L Did Did Not Inspect Property Freddie Mac Down 439 6 -93 Page 2 of 2 Fannie Mae Form 10048 6 -93 Form ACT — "WInTOTAL" appraisal software by a is mode, me —1- 800- ALAMODE Details Property Record 1l $ketches�L Trim Notices 1 Current Ownership Item No. 16A30 J MY L1, Page 16 of 16 Page 1 of 1 Sub No. _._341800. _ _ _ GOLDEN GATE EST UN 1MIllam Total School Use Code r 1 SINGLE FAMILY RESIDENTIAL 87 0.4101 11.6491 5.239 ee a 'S Instructions for Caleula0on 2009 Final Tax Roll Latest Sales History (Subject to Change) If all Values shown below equal 0 this �.-- parcel was emoted after the Final Tax Rotes 1 SOH ='Save lux Homes• exempt value due to cap on assessment Increases. Land Value 76,075.00 ate Book - Page Amount (a) Improved Value $140,073.00 1112006 ,9 11 - 1 ig$5186,1,000*0000 5000000 Just Value $124,148.00 0112005 372 3 9500. (•) SOH Exempt Value 6 Other Exemptions $ 0.00 0911996 2102-903 $ 0.00 (a) Assessed Value f$�224 24,146.00 0611996 - 1173 (- Homestead and other Exempt Value $ 0.00 1111994 681 $0.00 (�) Taxable Value ,1 48.00 . School Taxable Value The Information is Updated Weekly. 14-J8 -? r0--Fr- C'yk 0.3 41 '4c'-es- � ` l http:// www. collierappraiser .comIRecordDetail.asp? Map= No &FoliolD =0000039210380002 6/8/2010 (Used for School Taxes) $ 224,148.00 1 SOH ='Save lux Homes• exempt value due to cap on assessment Increases. Land Value 76,075.00 ate Book - Page Amount (a) Improved Value $140,073.00 1112006 ,9 11 - 1 ig$5186,1,000*0000 5000000 Just Value $124,148.00 0112005 372 3 9500. (•) SOH Exempt Value 6 Other Exemptions $ 0.00 0911996 2102-903 $ 0.00 (a) Assessed Value f$�224 24,146.00 0611996 - 1173 (- Homestead and other Exempt Value $ 0.00 1111994 681 $0.00 (�) Taxable Value ,1 48.00 . School Taxable Value The Information is Updated Weekly. 14-J8 -? r0--Fr- C'yk 0.3 41 '4c'-es- � ` l http:// www. collierappraiser .comIRecordDetail.asp? Map= No &FoliolD =0000039210380002 6/8/2010