Eugene D. Lanier, Inc. - Page 6

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          underground storage tanks.  One was a double-walled tank for                
          gasoline storage and the other was a single-walled tank for waste           
          oil.  Storage tanks were essential to the operation of an                   
          automobile dealership with a service area.                                  
               The main building was constructed in 1978; in 1987 it had an           
          effective age of 10 years and an estimated remaining economic               
          life of 35 to 40 years.  The paint and body shop building had               
          been moved to the site from a previous dealership; by 1987, it              
          had been refurbished and expanded and is considered to have the             
          same approximate age characteristics as the main building.                  
               As of March 31, 1987, the zoning classification for the                
          Property was Zone BG-General Business.  This  classification                
          permitted a wide range of commercial uses.  The flood zone                  
          designation of the Property was FEMA Flood Hazard Zone C, the               
          area of minimal inundation.                                                 
               Johnston Street is the principal northeast-southwest traffic           
          artery for the City of Lafayette.  The Property is located in the           
          southwestern section of Lafayette, approximately one-half mile              
          northeast of the intersection of Johnston Street and Ambassador             
          Caffery Parkway.  At the time of sale, the Johnston Street                  
          corridor in which the Property is situated was a primary                    
          commercial corridor in Lafayette.                                           
               Of all the metropolitan centers in Louisiana, Lafayette was            
          the hardest hit by the deep recession in the oil and gas industry           
          during the 1980's, losing roughly 22 percent of its jobs between            

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Last modified: May 25, 2011