Estate of Juanita F. Sirmans, Deceased Dan L. Sirmans, Executor - Page 24

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             to the remaining property.  First, the appraisal valued the              
             parent tract, the parcel designated folio 3143, before the               
             "taking".  Second, the appraisal valued the 4.83 acres of                
             folio 3143 and a barbed wire fence which were taken.                     
             Finally, the appraisal valued the remainder of folio 3143                
             after the taking.                                                        
                  According to the Fishback appraisal, the following                  
             land sales were comparable to the parcel designated folio                
             3143:                                                                    
             Date                    Size/              Price Per    Price Per        
             Comparable    of Sale      PriceAcres   Dry  Wet  Gross Acre   Dry Acre         
               1      7/30/90   $360,0009.340  9.34   --   $38,544  $38,544              
                                                   --29,052                           
               2      6/26/90    285,0009.810  9.81   --            29,052               
                                                   --14,100                           
               3      3/13/90    705,00050.000 50.00  --            14,100               
                                                   --14,305                           
               41     7/31/89  1,446,783101.13750.50  50.5          28,649               
               5      12/22/88  1,650,00054.474 53.00  1.474   30,29031,132               
               62     1/01/88  2,873,500162.700122.00 40.7 17,661   23,553               
             Listing 1       900,000 67.062 45.702 21.36   13,42019,693               
               1Same as comparable #1 of the BAAS appraisal.                          
               2Same as comparable #5 of the BAAS appraisal.                          
             Based upon the above comparables, the appraisal concludes                
             that the value of the parcel designated folio 3143 was                   
             $13,000 per acre or $390,390 (30.03 acres x $13,000).  The               
             operative passage of the Fishback appraisal is as follows:               

                  The subject has been listed on the open market                      
                  at $25,000 per gross acre for approximately a                       
                  two year period.  The sale price was based on a                     
                  25 acre size and about 10 acres was estimated by                    
                  the appraisers as environmentally sensitive land.                   
                  Because of the possible environmental constraints                   
                  for the unusable areas relative to future                           






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Last modified: May 25, 2011