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M As requested by J. B. Webb, City Engineer, I have personally examined and carefully considered for valuation Lots 22 and 23, Block 431 and Lots 14 to 30 inclusive, Block 530, all of which are located in Lancaster!, Addition to Newport Beach. The map furnished me includes the re- location of 32nd Street giving the lots in Block 530 a depth of 1031 facing on a 641 street with 501 of roadway. Also, shows increased alley width of 161 making 301 in all. The basis upon which I am predicating the value placed on the lots is the knowledge of the changes as outlined and the paving of 32nd Street and the alley including sidewalk and curb on 32nd Street. Any structures now existing on the subject property have not been considered for valuation. In my opinion, this property has excellent possibilities of being developed into a high class shopping section for the reason that there is enough land to interest an investor to build for income, and it is properly zoned. This appraisal is rendered with no specific purchaser or seller in mind. The highest price, in terms of money, which the property will bring if exposed for sale in the open market, with a reasonable time being allowed to find a purchaser, buying with full knowledge of all of the uses and purposes to which it is adapted and for which it is capable of being used, constitutes, in my opinion, its fair market value. The value placed on the property has no bearing or influence in the amount of my fee, nor am I interested now or intend to become interested in the above property. This appraisal assumes good title, any liens, encumbrances or taxes which may now exist have been disregarded and the property is valued as though free and clear of all indebtedness. I hereby certify that to my best belief and knowledge, the following representations of the expressions of opinion are correct and that in my opinion the market value is $58,700.00. October 25, 1948 ..2.