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Preface <br />This is a Restricted Appraisal Report as defined in the Uniform Standards of Professional Appraisal <br />Practice (USPAP). By prior agreement, the client has determined that a Restricted Appraisal Report is <br />appropriate in this instance. <br />This report is intended to comply with the reporting requirements set forth under Standards Rule <br />2-20 of USPAP for a Restricted Appraisal Report. As such, it does not present discussions of the data, <br />reasoning, and analyses that were used in the appraisal process to develop the appraiser's opinion of <br />value. Rather, only brief statements are presented. The supporting documentation concerning the <br />data, reasoning, and analyses is retained in the appraiser's file. The depth of discussion contained in <br />this report is specific to the needs of the client and for the intended use of this report. <br />The subject property (portion of APN 410-071-44) is a ±4,025-square-foot vacant lot. If sold, the <br />subject property would be joined/assembled to the adjacent ownership to the south. <br />Only the Sales Comparison Approach was used to value the subject property. This approach was <br />considered to be the most likely approach a potential purchaser of the subject property would use. <br />The Income Approach and the Cost Approach were not used, because this parcel is essentially <br />unimproved (vacant lot) and these approaches are not pertinent in this instance. <br />Standards Rule 2-20 of USPAP specifies that a Restricted Appraisal Report address 16 specific issues. <br />The following sections of this report are presented in a manner so as to comply with the 16 <br />requirements that are specified on the previous page. <br />State the identity of the client, or if the client requested anonymity, state that the identity is <br />withheld at the client's request but is retained in the appraiser's workfile; <br />City of Santa Ana <br />State the identity of any other intended user(s) by name; <br />None <br />iii. Clearly and conspicuously state a restriction that limits use of the report to the client and the <br />named intended user(s); <br />The use of this report is limited to the client and intended user, City of Santa Ana. There is <br />no other intended user. <br />iv. Clearly and conspicuously warn that the report may not contain supporting rationale for all of <br />the opinions and conclusions set forth in the report; <br />This report is restricted in that it does not present discussions of the data, reasoning, and <br />analyses that were used in the appraisal process to develop the appraiser's opinion of <br />value. This report cannot be thoroughly understood without this information. This <br />information has been retained in the appraiser's file. <br />City of Santa Ana Date of Value: June 9, 2023 <br />±4,025-SF Portion of APN 410-071-44 2 <br />