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loss of utility, access and use rights to be transferred and the obligations of the parties during the <br />construction period. <br />The TCE is intended to allow the contractor onto the site to complete construction -related activities. The <br />presence of the proposed TCE appears to restrict the normal use of the area by the owner and a ground <br />rent equivalent to 100% of the market ground rental rate is indicated. <br />The current rates of return on land leases have led us to conclude that the fair market land rental rate is <br />10% of the value of the land per year, inclusive of real estate taxes. The TCE is to endure for six (6) <br />months. <br />An application of the appropriate value per square foot is applied to the concluded rate of return for the <br />land area affected by the temporary construction easement. For the area affected by the TCE, the <br />indicated fee value of the land rental component is calculated in the following table. <br />Temporary Construction Easement (Land Rental Component) <br />Assesor's Parcel Land Value TCE Land Annual Rate of Annual Duration Indicated <br />Number Area ($/SF) Value Return TCE Value (Years) Value <br />002-261-06 733 $80 $58,640 10% $5,864 0.5 $2,932 <br />Page 6 <br />