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EXHIBIT 5 <br />APPRAISAL <br />September 29, 2015 <br />' OuewiieW of the "Total LS- 15treetlight System <br />Type Qty <br />Type <br />Overhead <br />Underground <br />Non -Wood 7,388 <br />65% <br />3,343 <br />4,045 <br />Wood 3,985 <br />35% <br />3,973 <br />12 <br />11,373 <br />100% <br />7,316 <br />4,057 <br />Subtotal <br />$3,444,612 <br />64% <br />36% <br />1950 -1959 <br />2,244 <br />1960 -1969 <br />2,700 <br />1970.1979 <br />2,571 <br />1980 -1989 <br />1,660 <br />1990 -1999 <br />873 <br />2000 -2009 <br />1,075 <br />2010- present. <br />250 <br />`�l���i�'•�ut?iYs bfr�h� o �ektle ' ; -�4 `$�? <br />91it;5ystem. <br />Qty <br />Marbelite (Concrete) 5,142 <br />$1,949,955 <br />Steel 2,204 <br />$468,488 <br />" Wood 471 <br />$451,065 <br />Total: 7,817 <br />$2,869,508 <br />Ad Hoc Replacements <br />$507,598 <br />Additional Fixtures / 8Items <br />$67,507 <br />Subtotal <br />$3,444,612 <br />Transition Cost <br />$234,510 <br />Valuation Price <br />$3,679,122 <br />"Note: 12 %of Wood Poles are sellable (streetlights attached to distribution poles or shared poles are excluded) <br />Ad Hoc Replacements represent poles replaced without developer's contribution <br />B Items include other asset components relevant to the sale (Le, riser poles, insulators, down guy, etc.) <br />Tax Neutral Adjustment is needed to recover any tax implication <br />Transition Cost is the severance cost to transfer ownership of the asset <br />25G -209 <br />