Estate of F. Wallace Langer, Deceased, Clarence D. Langer, Jr., Executor - Page 6

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          Because the parties stipulated their value, Phases 3, 4, 6, 7,              
          and 8 are not at issue.  See supra note 2.  At decedent’s death,            
          Phase 2 was zoned retail commercial, was 2.48 acres, and had a              
          rectangular configuration.  Phase 5 was zoned retail commercial,            
          was 11.7 acres, and had an awkward configuration.  On the date of           
          death, there were no deals pending regarding the development or             
          sale of Phases 2 and 5.                                                     
               In August 2000, LFLLC entered into negotiations with Target            
          Corporation (Target) for the purchase of Phase 5.  On December 5,           
          2000, LFLLC filed an application for development of Phase 5 with            
          the City of Sherwood, which was approved in October 2001.                   
          Because the application was submitted before the CAP ordinance              
          was enacted, the development of Phase 5 was subject to the                  
          traffic mitigation requirements of Metro.                                   
               After approval of the development application, Sherwood’s              
          mayor encouraged LFLLC to redesign the development of Phase 5.              
          In 2002, LFLLC proposed an amendment to the Langer PUD and                  
          requested the approval of a new development plan for Phases 2, 3,           
          and 5, which proposed changing the sizes and configurations of              
          those phases.  The amended PUD and new development plan were                
          approved on November 12, 2002.                                              
              On September 12, 2003, LFLLC and Target signed a Sale and              
          Purchase Agreement for the purchase by Target of approximately              
          10.97 acres of Phase 5.  On July 8, 2004, LFLLC sold                        






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