Estate of Charles a. Boratello, Deceased, C. Norman Borgatello and Josephine E. Donnelly, Co-Executors, and C. Norman Borgatello, Successor Trustee to the Charles A. Borgatello Living Trust - Page 6

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            particular, Mr. Marx adopted background data pertaining to                                 
            Montecito-Santa Barbara area vacancy rates and fair rental value.                          
            He also agreed with the estate's experts' analyses pertaining to                           
            highest and best use, zoning, site and improvement, and                                    
            neighborhood description.  The first two pages of each of Mr.                              
            Marx's reports contain cover letters dated March 7, 1999, from                             
            Mr. Marx to respondent's attorney.  Both letters contain the                               
            following disclaimer:                                                                      
                  This Limited Summary Report is valid only if another                                 
                  reviewer or entity is in possession of the [Holden I,                                
                  Holden II, and Cardenas appraisals] * * *.  The                                      
                  appraiser agreed on some of the factual data and issues                              
                  in these reports, and these items were used in this                                  
                  Limited Summary Report as part of the analysis of the                                
                  subject.  The three appraisals being reviewed, will be                               
                  relied upon as to facts concerning the site,                                         
                  improvements, zoning and other descriptions.  The                                    
                  appraiser will not complete a zoning analysis, site &                                
                  improvement analysis or Highest and Best Use or                                      
                  neighborhood descriptions.  These items are found in                                 
                  the appraisals reviewed by David Marx, and are assumed                               
                  to be valid. [Emphasis in the original.]                                             
            At the trial of the instant case, the estate objected to the                               
            admission of Mr. Marx's reports, the Cardenas reports, and the                             
            Holden I and II reports.  The Court admitted, over the estate's                            
            objection, the Holden I and II reports into evidence.  The Court                           
            conditionally admitted Mr. Marx's reports, but reserved ruling on                          
            the admissibility of the Cardenas reports.  The Court instructed                           

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