Estate of Ethel Josephine Spowart Hinz - Page 11




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          The Properties                                                              
               Among the properties included in decedent’s gross estate,              
          the values of which are reported on decedent’s estate tax return,           
          are four real properties located in Santa Clara County,                     
          California, as follows:                                                     
                    (1) 14521 Quito Road, Saratoga, hereinafter sometimes             
               referred to as the Quito Property;                                     
                    (2) 2201 and 2215 Lafayette Street, Santa Clara,                  
               hereinafter sometimes referred to as the Lafayette                     
               Property;6                                                             
                    (3) 767 Parker Street, Santa Clara, hereinafter                   
               sometimes referred to as the Parker Property; and                      
                    (4) 1061 Richard Street, Santa Clara, hereinafter                 
               sometimes referred to as the Richard Property.                         

          The Quito Property, the Lafayette Property, the Parker Property,            
          and the Richard Property are hereinafter sometimes referred to              
          collectively as the Subject Properties.                                     
               1. In General                                                          
               The Subject Properties are south or southeast of the                   
          southern end of the San Francisco Bay, in Santa Clara County, the           
          most populous county in the San Francisco Bay region.  Saratoga             
          (the Quito Property), about 10 miles west of San Jose, is a small           
          city which is significantly more affluent than the county as a              
          whole.  Saratoga is largely a “bedroom community”.  Santa Clara             

          6    The Lafayette Property consists of two contiguous properties           
          that the parties treat as one property for valuation purposes in            
          the instant case. See supra note 4.                                         





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