Howard J. Kaplan and Brenda L. Kaplan, et al. - Page 17

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               Using PACENET, we have researched EVERY Comparable Sale                
               in the Four Townships surrounding the Subject AND in                   
               the City of Fremont, for all of 1999 thru October...                   
               WE FOUND NO SIMILAR, CURRENT, PROXIMATE OR APPROPRIATE                 
               COMPARABLE SALES TO THE SUBJECT                                        
                  *       *       *       *       *       *       *                   
                                    COST APPROACH                                     
               From the current Marshall & Swift Cost Manual for Class                
               C Schools of Average Construction.  The Area Multiplier                
               is 1.02                                                                
                 **************************************************                   
               Base Cost=$ 72.13 sf. x 1.02 Area Multiplier=                          
               $ 73.57 sqft.                                                          
                 **************************************************                   
               Building # 1 was built in 1958 and then remodeled in                   
               1994.  Class C Schools with average masonry construc-                  
               tion have an expected Building Life of 45 years.  The                  
               EFFECTIVE AGE of Building # 1 is 10 years.  Physical                   
               Depreciation for this Building is 20% using the                        
               AGE/LIFE/CONDITION METHOD                                              
                 **************************************************                   
                          COST BREAKDOWN FOR BUILDING # 1                             
               11.664 sf. @ $ 73.57 sf. LESS 0% Depreciation=                         
               $ 686,500                                                              
                 **************************************************                   
               Building # 2 was built in 1998 and has ZERO% Physical                  
               Depreciation[.]  The expected Building Life of a Class                 
               C, average construction masonry School is 45 years.                    
               Building # 2 has an EFFECTIVE AGE of 1 year                            
                 **************************************************                   
                          COST BREAKDOWN FOR BUILDING # 2                             
               3.600 sf. @ $ 73.57 sf. LESS 0% Depreciation= $ 263,500                
                 **************************************************                   





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