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O:CMO(/) <br />Daniel Soto <br />FER &Z'SOCIATES <br />July 18, 2017 <br />Ms. Cynthia Kurtz <br />City Manager <br />City of Santa Ana <br />20 Civic Center Plaza <br />Santa Ana, CA 92701 <br />N-2017-223 <br />Commercial Real Estate Services <br />Regarding: An Appraisal Report of 1405 French Street in Santa Ana, California <br />Dear Ms. Kurtz, <br />In response to your request, Fewel & Associates proposes to provide you with an Appraisal Report <br />of the referenced property. The appraisal will be prepared in accordance with, and will conform to, <br />the Uniform Standards of Professional Appraisal Practice (USPAP). Please note the Contingent and <br />Limiting Conditions, as they are now known, which will apply to the analysis. Please review them <br />carefully in order to determine if our services will be consistent with your expectations. <br />The purpose of this report is to estimate, at the request of the client, the fee simple market value of <br />the portion of 1405 French Street, Santa Ana, known as the Water Tower Site, based on the <br />extraordinary assumption that the water tower parcel (16,331 SF) has been recorded as a separate <br />parcel (see attached plat map of legal description). The intended use of the report is for the city's <br />internal decision making purposes regarding the purchase of the Water Tower Site. <br />The total fee is $4,500.00, which is due within 30 days of receipt of the final report. If this proposal <br />meets with your approval, please sign the attached Contract for Services and return it to us along <br />with the requested fee. <br />if you have any questions, please contact me at your convenience. Thank you for the opportunity to <br />serve you in this matter. <br />Sincerely, <br />Chris Fewel, MAI <br />Certification #AG025545 <br />129 W. Wilson Street • Suite 201 • Costa Mesa, California 92627 • (949) 764-2650 Fax (949) 764-9325 <br />