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V m U t <br />1� <br />Page Two <br />October 19, 2016 <br />The property interests OCTA seeks 'to acquire consists of the Property in fee simple <br />absolute (the "Property Interests"). These Property Interests are more particularly <br />described and depicted in the enclosed legal description and plat map. <br />Just Compensation: <br />Beth Finestone, a licensed real estate appraiser with Integra Realty Resources — Los <br />Angeles has inspected and appraised the Property Interests for the purpose of <br />determining their fair market value. Based on this appraisal, OCTA has determined that <br />the just compensation for the Property Interests is TWO MILLION TWO HUNDRED <br />THIRTY-NINE THOUSAND DOLLARS AND ZERO CENTS ($2,239,000:00). Enclosed <br />with this letter is a copy of the appraisal summary statement, which is the basis for the <br />amount established as just compensation for the purchase of the Property Interests. <br />This amount of just compensation is based on the overall value of the Property Interests <br />in the sum of Two Million Nine Hundred Twenty -Three Thousand Six Hundred Seventy <br />Four Dollars and Zero Cents ($2;923,674,00) less environmental mitigation costs of Six <br />Hundred Eighty -Four Thousand Two Hundred Sixty -Eight Dollars and Zero Cents <br />($684,268.00) for a rounded fair market value of Two Million Two Hundred Thirty -Nine <br />Thousand Dollars and Zero Cents ($2,239,000.00). <br />In addition, Michael A. Lacey, ASA, an appraiser with Hodges Lacey & Associates, LLC, <br />has inspected and appraised the Improvements Pertaining to the Realty belonging to <br />either the Valdivia Family Trust or SA Recycling LLC and determined the fair market <br />value in place of the improvements to be FOUR HUNDRED TWENTY-THREE <br />THOUSAND EIGHT HUNDRED AND FIFTY DOLLARS AND ZERO CENTS <br />($423,850.00). <br />OCTA intends to make an offer for the purchase of improvements pertaining to realty to <br />the appropriate party once the ownership of the improvements is ascertained and the <br />appropriate offset statement is signed relative to said ownership. <br />Offer to Purchase: <br />Based on the determined just compensation, OCTA hereby offers to purchase the <br />Property Interests, excluding Improvements Pertaining to the Realty, upon the terms set <br />forth in the enclosed"Right of Way Contract, free of all liens and other encumbrances, <br />except as may be agreed to by OCTA, for TWO MILLION TWO HUNDRED THIRTY- <br />NINE THOUSAND DOLLARS AND ZERO CENTS ($2,239,000). This offer is also <br />1197840.1 <br />75D-13 <br />