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,Real, Estate Valuations Northwest Charles P. Thompson & Assoc., Inc. Real Estate Appraisers & Counselors March 22, 2000 McDougal Foundation Inc. c/o Mr. James A. Youel, CPA 925 Country Club Road Eugene, OR 97401 Dear Mr. Youel: Pursuant to your request, I have personally inspected the following described property for the purpose of estimating the market value thereof effective March 15, 2000. Re: A 100 acre undeveloped land parcel on the northerly side of 30th Avenue ,~d at the southerly terminus of Riverview Street. Lane County Assessor's Map #18-03-10 part of Tax Lot 700 (that portion inside the Urban Growth Boundary of the City of Eug'~ne). This is a Summary Appraisal Report ~vhich is intended to comply with the reporting requirements set forth under Standards Rule 2-2(b) of the Uniform Standards of Professional Appraisal Practice for a Summary Appraisal Report. As such, it presents only summary discussions of the data, reasoning, and analyses that were used in the appraisal process to develop the appraiser's opinion of value. Supporting documentation concerning the data, reasoning, and analyses is retained in the appraiser's file. The depth of discussion contained in this report is specific to the needs of the client. The subject property was appraised subject to the Assumptions and Limiting Conditions outlined in this report. The market value of the fee simple interest in the subject property effective March 20, 2000 was concluded to be $2,150,000. This appraisal was completed in conformity with the Code of Ethics and Standards of Professional Practice of the Appraisal Institute. Also, the appraisal was done in accordance with the 1999, edition of the Uniform Standards of Professional Appraisal Practice (USPAP), adopted by the Appraisal Foundation. P.O. BOX 10233 · EUGENE, OREGON · 97440-2233 . TELEPttONE (54 I) 343-8895 · FAX (541) 343-5190