2013-33 Marrett Rd Prop Appraisal-March STM

Browse Search

The Real Estate Appraisal and Consulting o stet Company February 19,2013 Karen Mullins Director of Community Development Town of Lexington 1625 Massachusetts Avenue Lexington, MA 02420 33 Marrett Road,Lexington Dear Ms. Mullins: In accordance with your request for a new estimate of the market value of the real estate originally consisting of land improved with a large institutional office building, a renovated carriage house and a single family home located at 33 Marrett Road, Lexington, Massachusetts, owned by Trustees of the Supreme Council of the Ancient Accepted Scottish Rite of Freemasonry, we have examined the property and submit herewith our complete appraisal in the form of an amending letter to our original report. The purpose of this appraisal is to estimate the proposed fee acquisition the subject property. The following is our supplemental report in the form of an amending letter, prepared in conformance with the Uniform Standards of Professional Appraisal Practice (USPAP) 2012 — 2013 Edition which describes our method of approach and sets forth a description of the property, together with an analysis of data and the reasoning underlying the conclusions derived in our investigation. It hereby incorporates by reference our original appraisal report with a transmittal date of December 3, 2012. This supplemental appraisal report is considered part of that document and cannot be understood without it. We hereby certify that we have no present or future contemplated interest herein, and that our 1 employment in making this appraisal is in no way contingent on the amount of our valuation. This appraisal report has been prepared for the exclusive benefit of the client and intended user,the town of Lexington as well as the Commonwealth of Massachusetts to which an application for funding of the acquisition is anticipated. It conforms to State "EOEA Specifications for Analytical Narrative Appraisal Reports" and the Uniform Standards of Professional Appraisal Practice 2012- 2013 edition. It may not be used or relied upon by any other party. Any party who uses or relies upon any information in this report,without the preparer's written consent, does so at his own risk. 100 Erdman Way, Leominster, Massachusetts 01453-1804 Phone: (978)534-1350 • Fax: (978)534-1913 www.thefostercompany.com