03-C-1&2 Kammer Abatement Req - Laserfiche WebLink

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Client: Mr. Pat Bassano First Federal Community Bank 630 Clarksville Paris, TX 75460 Appraiser: Pat Murphy and Associates 712 19th SE Paris, TX 75460 Identification of the Property The subject was essentially six platted lots and two half lots comprising some 68,460 SF of commemial land situated on the north side of Bonham street and the south side of Maple Avenue some 160' west of 17~h NW street in the western portion of Paris, Lamar County, Texas. The street addresses were 1726 and 1746 Bonham street and 1735 through 1753 Maple Avenue, Paris, Texas. History of the Subiect The lots have belonged to R. C Nance and his estate for many years. Some of the four dwellings have been rented but all were vacant at the inspection. The buyer will raze two dwellings and sell the two others to be moved. The subject has been listed for sale since December 1, 1999, as two lots, a 210' x 156' facing Bonham and a 210' x 155' lot facing Maple for a total list price of $50,000. The buyer offered $45,000 and the seller accepted the offer. The two halves were separated by a 15' dedicated but undeveloped alley and they were zoned Two Family. Since the contract was signed on June 22, 2001, the property was re-zoned General Retail and the alley has been approved to be closed. It will formally be closed on September 6,2001, but all adjacent property owners have signed the petition and it has received approval by the Director of Public Works, City Attorney, and the City Engineer. The buyer offered $45,000 and the seller accepted the offer. The appraiser was unaware of any other contracts or offers to sell or pumhase th9 property. Purpose of the Appraisal The purpose of this appraisal was to develop an opinion of the market value of the fee simple estate as of August 14, 2001. Intended Use of the Appraisal The intended use of this appraisal was to aid the client and intended user, First Federal Community Bank in underwriting a mortgage loan on the subject. Its use by others or for any other use was not intended by the appraiser. Legal Description The subject is legally described as Lots 4, 5, 6 18, 19, 20 and the west half of Lots 3 and 17, Block 1, Warren Addition to the City of Paris. As a result of the 15' alley closing, the each lot will have an additional 7.5' of depth. PAT MURPHY & ASSOCIATES 2