John Lo Monte, 3Buttonwood Hill Canton

Prepared for:

APPRAISED BY:

REAL ESTATE APPRAISAL

Complete Appraisal - Self-Contained Report (Before and After)

Single Family Dwelling Residence 3 Buttonwood Hill Road,

Canton, Hartford County, Connecticut

Effective Date of Market Value: August 22, 2014 Date of Appraisal Report: September 10, 2014

Owner: John Cottingham, Jr., et al

Volume 365, Page 918

Mr. Edward Fox 24 Old Mill Drive Canton, CT 06019

JOHN LO MONTE REAL ESTATE APPRAISERS AND CONSULT ANTS P.O. Box 290-0563, Wethersfield, CT 06129-0563 + (860) 635-7500 & Fax (860) 635-3339

REAL ESTATE APPRAISERS & CONSULTANTS P.O. BOX 290-0563 • WETHERSFIELD, CT. 06129-0563 • (860) 635-7500 • FAX (860) 635-3339

September 10, 2014

Mr. Edward Fox 24 Old Mill Drive Canton, CT 06019

Re: 3 Buttonwood Hill Road, Canton, CT

Dear Mr. Fox:

At your request, on behalf of Mr. John Cottingham, or the subject property owner, and for the purpose of estimating the fair market value, as before and as after, of the property at 3 Buttonwood Hill Road, in Canton, Hartford County, Connecticut, we present herewith our report containing our estimate of value and the data and analyses used in arriving at our estimate of value.

Introduction:

The purpose of this appraisal report is to estimate Market Value impact as a result of the proposed zone change for a large tract identified with the street address of 67 4 and 684 Albany Tpke. (AKA Route 44) and furter identified as Lot 1010674 and 1010684 of Canton Assessor's Map 21.

Specifically, the above captioned proposed zone change property comprises aggregate site size of roughly 39.00 acres currently zoned R-2, or residential 2. As per a zone change application form to the town of Canton Zoning and Planning Commission dated July 2, 2014, the current subject property ownership is requesting a zone change for 31 acres from the total of approximately 39 acres from residential R-2 to Industrial (I).

As a result, several of the adjoining property owners are very concerned about the resulting negative impact which will result from such zone change, if approved. The proposed zone change property /parcel, has an extensive road frontage along Route 44 AKA Albany Turnpike, and is currently utilized as raw acreage and as agricultural; the net result is a very low, if any, impact on the surrounding residential use(s) as per zoning and as per neighborhood composition.

As part of the zone change request, the property owner reported several consideration which are reported in the following pages, for our purpose.

:J.ofz.n ...£0 c:fl1.onte REAL ESTATE APPRAISERS & CONSULTANTS P.O. BOX 290-0563 • WETHERSFIELD, CT. 06129-0563 • (860) 635-7500 • FAX (860) 635-3339


Introduction, continued

"The reason for my zone change is to accommodate my strong feelings that there is a significant demand for small uses of development which could be developed in the industrial zone. My feelings were confirmed by recent building opportunities which I will present at the meeting. Per the strategic plan, this zone change and development would promote the health, safety and especially the welfare of the Town. The parcel rates low on the Conservation score of the Conservation Vision and was identified as an opportunity location on the same plan. With proper detention and engineering the development would be healthy and provide a safe environment. "

Further considerations reported are stated as follows:

"" We are proposing the Zone change from R-2 Zone to I-Zone on our location on Route 44, based on several considerations.

A. We envision excellent potential for small business, industrial, and similar users allowed under the I-Zone on this parcel.

B. The development of residential use on the property would be a tax burden for the Town.

C. The adjacent pacel in the Town of New Hartford is zoned industrial and this zone change would be compatible with the adjacent land in New Hartford.

D. The Canton Strategic Plan endorses the use of this land for economic development. The report on page 36 states that only about fifty (50) acres of undeveloped land is zoned for non-residential use in the entire Town. It further states that managing the business to residential tax proportion would be key to keeping the Town's tax rate competitive, and keeping Canton a desirable place to live.

E. The same Strategic Plan on page 36 identifies this parcel land as a potential "opportunity" location.

F. The same Strategic Plan under the chapter "Future Land Use Plan", page 102 rates the parcel as low on the conservation score and moderate on the development vision.

G. We envision that with the extensive frontage on Route 44 and the visibility, we can make this development into a successful project providing job benefits, increased tax base and economic diversity for the Town of Canton. "




Thus, our purpose is to evaluate the subject property "as before" and "as after" to estimate what potential damages, or reduction in fair market value the subject of this report will suffer as well as (equally) ten's of similar single family dwellings which are located in the subject neighborhood as well as extended subject's neighborhood.

The property that is the subject of this report consists of a 2,570 square foot, above grade, fairly newer (1984) residential single family contemporary style dwelling, as per our inspection and assessor's office records, on approximately 1.09 acres (47 ,480± sq ft) of land on the northerly side of Buttonwood Hill Road, in the extreme central-west quadrant of Canton, and immediately to the east of the New Hartford Town Line.

It should be further noted here that the subject property is a rear parcel and as such it enjoys a great deal of privacy, as well as a park like setting, since it's situated roughly 290 feet set back from Buttonwood Hill Road.

There is a bonus room over the garage area comprising approximately 528 sq ft of additional living area fitted for use as bedroom and/or flex-use area; hence, total gross living area is 2,570± sq ft. Our report describes the property in detail, and analyzes the property with respect to market value, as defined in our report.

John ...£.o d/{onte REAL ESTATE APPRAISERS & CONSULTANTS P.O. BOX 290·0563 • WETHERSFIELD, CT. 06129-0563 • (860) 635-7500 • FAX (860) 635-3339



As already reported, the purpose of this report is to estimate the market value of the fee simple interest in the property on an "as is" basis in "the before" and in "the after." The appraisal is self-contained.

Based on the proposed zone change, the following zoning impact will be highlighted, both "in the before" and "in the after".

3 Buttonwood Hill Road, Canton. Hartford County. CT

The Canton Zoning Ordinance District Map lists the subject property location as being in an R-2, Residential (2) District Zone District.

Purposes

The Residential (R) districts are intended to provide suitable areas primarily for residential uses and development appropriate to the environmental characteristics of the land and character of the neighborhood. The primary difference between the varies R districts is to provide a variety in size and density of residential neighborhoods. These districts are also intended to promote residences while taking into consideration topography, soils, wetlands, natural features, historic assets, agricultural heritage, availability and capacity of infrastructure, and other similar features.

Certain non-residential uses may be allowed in R districts when such uses are compatible with nearby residential uses and preserve neighborhood character.

Permitted Uses As of Right Uses permitted by right within the R-2 zone include single-family dwellings; accessory buildings and uses; and home occupations.

Uses permitted and approved by the Commission include, but are not limited to, cluster developments, multi-family dwellings, elderly housing developments, two-family dwellings and age restricted housing communities.

For other permitted accessory and/or special permit uses refer to Town of Canton Zoning Regulations.

:John .Lo dl!(onte REAL ESTATE APPRAISERS & CONSULTANTS P.O. BOX 290·0563 • WETHERSFIELD, CT. 06129-0563 • (860) 635-7500 • FAX (860) 635-3339



Area, dimensional and bulk requirements within the R-2 Residential Zoning District within the Town of Canton, as they apply to the property being evaluated, are as follows:

Minimum Lot Area: 43,560 sq ft (single family)

Minimum Depth Front Yard: 40 feet

Minimum Lot Width: 150 feet

Minimum width One Side Yard: 15 feet

Total Minimum Width of Both Side Yards: 30 feet

Minimum Depth Rear Yard: 15 feet

Maximum Lot Coverage: 15%

Maximum Permitted Height: 21h stories, or 35 feet

Minimum Floor Area For

Minimum Open Space: In all residences zones front yard, rear yard and two side sideyards.

Source: Zoning Regulations, Town of Canton

Industrial District

The industrial district is intended to allow for the manufacturing production, processing, fabrication, assembly, treatment, repair, or packaging of finished productes, predominantly from previsouly prepared or refined materials (or from raw materials that do not need refining) and for warehousing, wholesaling, and distrubution and for other uses appropriate for the district.




Uses Permitted by Zoning Permit (Staff) and Site Plan Approval (Commission)

1. Lumber Yards

2. Printing and publishing

3. Research - experimental, analytical, pharmaceutical and commercial laboratories including theoretical research, product engineering and sales development

4. Manufacturing, fabricating, processing, converting, altering, or assembling, and the packaging, warehousing and distribution of machine parts, electrical equipment, electronic equipment, photographic products, optical products, office and business equipment, plastic components and computing equipment

5. Warehousing and storage excluding self-storage units and wholesale storage of propane

6. Professional office

7. Accessory use customary and incidental to any use allowed in the industrial district except that the ZEO may elect to refer an accessory use the Commission upon determing that it may substantially alter the nature of intensity of teh principal use of the site

8. Signs allowed by Section 7.3

9. Outdoor lighting subject to the provisions of Section 7. 4

10. Off-street parking for up to 25 off street vehicles

11. Utility facilities including water supply pump stations, tanks and stand pipes and appurtenant structures

12. Storage of liquid fuel in tanks having a capacity of 2,000 gallons or less provided such storage shall not be located in a required yard setback

13. Donation drop boxes subject to the provisions of Section 3. 3. C.

John .Lo dlf onte REAL ESTATE APPRAISERS & CONSULTANTS P.O. BOX 290·0563 • WETHERSFIELD, CT. 06129-0563 • (860) 635-7500 • FAX (860) 635-3339



1. Business Uses

2. Industrial/Infrastructure Facilites

Volume reduction plant and recycling facility to be limted to: Intake of raw materials and clean bulky construction waste such as bituminous products, brush, cardboard, concrete, dirt, gravel, masonry block, metal, quarry rock, sand, stone, topsoil and wood; compacting, crushing, grinding, screening, separating, sorting, washing, or similar processing of raw materials and construction waste; stockpiling or storing or raw materials, construction waste and processed materials; wholesale and retail sales of processed materials which may include truck weighing facilities; and/or shipment of un-recycleable materials to an approved disposal facility.

Licensed medical marijuana producer provided that all cultivation of marijuana plants be conducted in-doors.

Adult Uses (Adult Establishments Facilites)

A Summary of Salient Facts and Conclusions can be found starting from Page No. 1, and this report is predicated on the Assumptions and Limiting Conditions that are listed within. The reconciled market value relies on the Sales Comparison Approach. The market value assumes there are no environmental or legal problems with the property and its improvements, that is as of the date of value.

This is a complete appraisal, summary report intended to comply with the reporting requirements set forth in Standards Rule 2. 2 of the Uniform Standards of Professional Appraisal Practice (USP AP). As such it presents discussion of the data, reasoning and analyses used in the appraisal process to develop the appraiser's opinion of value. To develop the opinion of valued contained herein, the appraiser executed a complete appraisal process, as defined by USPAP.



This appraisal report conforms to the following laws and regulations: 1. FDIC Regulation 12 CFR III B (Part 323) 2. "Guidelines for Real Estate Appraisal Policies and Review Procedures" jointly issued

in 1987 by the FDIC, Federal Reserve Board and the OCC. 3. Federal Reserve Board Regulation 4 Subpart G 225.61-225.67 4. Regulations of Connecticut State Agencies 20-328-27 to 20-328-30. 5. Connecticut Public Act 90-332. 6. Uniform Standards of Professional Appraisal Practice which are incorporated by

reference in to FDIC Regulation 323.

Title to the subject property is as of the valuation date in the name of John G. Cottingham, Jr. and Corri B. Cottingham whom acquired the property via Warranty deed dated March 4 2009. This deed is recorded in Volume 365, at 18 of the Canton Land Records. Consideration stated in this deed is $300,000. To the best of our knowledge, no other transfers have occurred since the last transaction.

~ohn _co dl/(onte REAL ESTATE APPRAISERS & CONSULTANTS P.O. BOX 290·0563 • WETHERSFIELD, CT. 06129·0563 • (860) 635-7500 • FAX (860) 635-3339


3 Buttonwood Hill Road, Canton; Dwelling Breakdown

First Floor: 1,370± sq ft

Finished Bonus Room: 528± sq ft

Upper Floor: 672 ± sq ft

Wood Deck: 190± sq ft

Attached (2-car) Garage : 528± sq ft

GLA: 2,570± sq ft, above grade including 528 sq ft of finished bonus room over garage area.

3 Buttonwood Hill Road, Canton, CT; General Data

Gross Living Area: 2,570± sq ft above grade

Age: 1984

Condition: Good to very good as to structural, finish-condition and mechanical components

Assessor's Reference: Map 21, Block NIA, Lot 1580003 Assessment Value: $292,170 (October 1, 2013 Grand List) Assessed Value: $204,520; Mill Rate: 28.56 mills (10-1-2013 Grand List) Taxes: $5,841.09 yearly, or $2.27/sq ft of useable GLA

Ownership: John G. and Corri B. Cottingham (Volume 365, Page 918)

Land Area: 47,480± sq ft (l.09± acres)

Zone: R-2; Rural Residential (2) Single Family District

Most Recent Sale Date: March 4, 2009 (Sale Price: $300,000)

Occupancy: Owner occupied

Land to Dwelling Ratio: 18.5 to 1

REAL ESTATE APPRAISERS & CONSULTANTS P.O. BOX 290·0563 • WETHERSFIELD, CT. 06129..0563 • (860) 635-7500 • FAX (860) 635-3339


As a result of the proposed zone change, if approved of the property known as 674 and 684 Albany Turnpike, situated along the south side of Route 44, or in the immediate vicinity of the subject neighborhood, the subject property will be severely negatively affected, in our opinion, based on the following considerations.

I 3 Buttonwood Hill Road, Canton, CT I Negative impact resulting from the proposed zone change from R-2 (residential) to industrial (I) for a 31.00 acres tract situated at 674-684 Albany Turnpike

Re-configuration of neighborhood with increased trucks traffic

Increased noise due to additional traffic and trucks

Diminution of curb appeal and marketability; moreover, location will be also negatively affected. Potential damages that can occur to the Artisan Well depending on any potential use(s) that will be allowed if the zone change is approved.

As a result, in "The After" the subject is going to be negatively affected by severance, i.e. damages; thus, the need to appraise the subject property "As Before" and "As After"

The subject propety is a single family owner occupied colonial style dwelling (fairly newer, 1984), over full and unfinished basement, on a site of 1.09± acres (47,480± sq ft) zoned R-2, low density residential district.

John ....Co dl/(onte REAL ESTATE APPRAISERS & CONSULTANTS P.O. BOX 290·0563 • WETHERSFIELD, CT. 06129·0563 • (860) 635·7500 • FAX (860) 635·3339


Therefore, after having considered the subject property and its market value in the current market, it is my opinion that the market value of the subject property, as of August 22, 2014, was:

Property Value, in total:

$345,000 (As Before The Proposed Zone Change) (THREE HUNDRED FORTY-FIVE THOUSAND DOLLARS)

$255,000 (AS AFTER) (TWO HUNDRED FIFrY-FIVE THOUSAND DOLLARS)

$90,000 (Damages,or Diminution in Fair Market Value of 26.1%) (NINETY THOUSAND DOLLARS)

Exposure and Marketing Period The established market value reflects an exposure time of twelve months, reflecting the period prior to the date of value. A marketing period within twelve months is implicit in this analysis, recognizing the time period after the date of value to liquidate the subject property. The exposure time and the marketing period are based on the known marketing time of the sales in the region.

If there are any questions, or if we can be of further assistance, please do not hesitate to contact us.

Sincerely,

John Lo Monte, CCRA, GAA, CCIM Certified Commercial Real Estate Appraiser CT Certificate No. RCG 377 Expiration Date: 4/30/2015

TABLE OF CONTENTS

PAGE Summary Of Salient Facts And Conclusions . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Photographs of the Subject Property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Purpose of the Appraisal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Property Rights Appraised . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Function of the Appraisal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Scope of the Appraisal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Market Value Definition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Identification of the Property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Legal Description . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Community Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Town Map .............................................. 27 Neighborhood Analysis ....................................... 28 Neighborhood Map ......................................... 30 Zoning ................................................. 31 Assessment and Tax Data ..................................... 33 Description of the Site . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 Assessor's Map ........................................... 38 Description of the Improvements ................................. 39 Highest and Best Use ........................................ 43 Valuation Premise . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 Direct Sales Comparison Approach . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 7 Reconciliation and Final Value Estimate . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72 Appraiser's Certification . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 4 Assumptions and Limiting Conditions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 6 Qualifications of the Appraiser . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79

ADDENDA Subject Property Deed Location Map Appraiser copy of certificate Assessor's Field Card Miscellaneous

SUMMARY OF SALIENT FACTS AND CONCLUSIONS

Property Appraised: 3 Buttonwood Hill Road, Canton, Hartford County, Connecticut

Owners of Record:

Date of the Report:

Date of Valuation:

Assessor's Reference:

Zoning:

Full Assessment Value:

70% Assessed Value:

Taxes:

Site:

John G. and Corri Cottingham

September 10, 2014

August 22, 2014

Map 21, Block NIA Lot 158003

R-2; Residential (2) (Single Family) District

$292,170

$204,520

$5,841 (rounded) yearly

According to Assessor's office records, the subject property consists of approximately 1. 09 acres of land, on the northerly side of Buttonwood Hill Road, in the central-west quadrant of Canton. The subject property's major (locational) attribute is the rural and tranquil setting but with the convenience of transportation and employment all within less than 1 mile radius from the subject neighborhood. Specifically, the subject property and neighborhood are easily accessible from Route 44 and to a lesser extent from Route 179, to the east of the subject neighborhood.

3 Buttonwood Hill Road, Canton, Hartford County, CT John Lo Monte Real Estate Appraisers & Consultants Page 1

SUMMARY OF SALIENT FACTS AND CONCLUSIONS, continued

Improvements:

The subject property site is a rear parcel and it benefits from 30 feet frontage along the northerly side of Buttonwood Hill Road, and a maximum depth of 290 feet on the northerly each side. As noted, the subject enjoys a rural and park like setting. The site is served by on site septic and on site well.

The subject property appears to be situated, according to community map 09003 C0169F, revised September 26, 2008, panel 169 of 675, in zone "X", or area of minimal flood. The property has a street address of 3 Buttonwood Hill Road.

For a visual representation of the property, please refer to the Assessor's Map and Photographs of Subject Property section of this report.

The land is approximately rectangular in shape, partially level and slightly below street grade with a southwesterly downward slope toward the rear and south boundary lines. This site is improved with a residential, cotemporary cape style dwelling. Landscape is adequate and site improvements appear to be maintained and in average to good overall condition.

Based on our inspection, and according to Assessor's office records, the improvements consist of a 1.5-story frame with clapboard siding exterior single-family built in 1984 cape style dwelling, comprising 2,570 square feet above grade living area, over a full and unfinished basement; as noted, there is a bonus room comprising 528 sq ft of additional living area, with a total of 8 rooms, 4 bedrooms, living room, family room, kitchen and 2. 5 baths.


SUMMARY OF SALIENT FACTS AND CONCLUSIONS, continued

Highest and Best Use, After:

Highest and Best Use, Before:

The house is built on a full, and unfinished basement and is heated by three self-contained, or wall mounted units

As of the date of valuation (8-22-2014), the premises were owner occupied and in good to very good overall condition.

According to Assessor's office records the house was built in 1984 and has been adequately maintained. There is an attached frame garage to the front comprising 528 square feet and a wood deck of 190 sq ft along the rear side.

For additional data as to the subject overall finish-condition, please refer to the improvements description section of this report.

"As Is" and "As Improved" single family home, or owner occupied property.

The highest and best use of the property is for use as a residential single-family, owner occupied property.

Estimate of value by Direct Sales Comparison Approach: $345,000 (As Before)

Final estimate of Retrospective Market Value As Is:

Damages (Diminution in Fair Market Value): $90,000 (26.1 %)

(NINETY THOUSAND DOLLARS)

3 Buttonwood Hill Road, Canton, Hartford County, CT John Lo Monte Real Estate Appraisers & Consultants

$255,000 (As After)

$345,000 (As Before)

$255,000 (As After)

Page 3

PHOTOGRAPHS OF THE SUBJECT PROPERTY

O VERALL FRONT VIEW AND SITE CONTOUR'S

OVERALL VIEW OF REAR YARD AND FINISH-C ONDITION


August, 2014

Page 4

PHOTOGRAPHS OF THE SUBJECT PROPERTY August, 2014

OVERALL FRONT SIDE VIEW AND FIN1SH-CONDITION

OVERALL VIEW OF FRONT AND WEST SIDE AND FINISH-CONDITION



VIEW OF FRONT YARD LOOKING SOUTHEASTERLY

ADDITIONAL SITE VIEW ALONG THE FRONT SIDE


August, 2014

Page 6


VIEW OF ACCESS ROADWAY AND SITE CONTOUR'S

CLOSE-UP VIEW OF REAR SIDE


August, 2014

Page 7


ADDITION FRONT SIDE VIEW

ALTERNATE VIEW OF REAR SIDE


August, 2014

Page 8


VIEW OF DINING ROOM AND FINISH-CONDITION

VIEW OF KITCHEN AND FINISH-CONDITION


August, 2014

Page 9


VIEW OF F AMIL y ROOM AND FINISH-CONDITION (As Is)

VIEW OF TYPICAL BATHROOM AND FINISH-CONDITION


August, 2014

Page 10


VIEW OF UPPER FLOOR AND FINISH-CONDITION

3 Bunonwood Hill Road, Canton, Hartford County, CT John Lo Monte Real Estate Appraisers & Consultants

August, 2014

Page 11

PHOTOGRAPHS OF THE SUBJECT PROPERTY August, 2014

STREET SCENE LOOKING NORTHWESTERLY ON BUTONWOOD HILL ROAD

STREET SCENE LoOKING SOUTHEASTERLY


PURPOSE OF THE APPRAISAL

The purpose of the appraisal is to estimate the market value of the fee simple estate of the subject property "as before" and "as after", as it existed on the effective date of value-August 22, 2014.

Fee simple interest is composed of the land, improvements, and all of the rights normally acquired by ownership.

PROPERTY RIGHTS APPRAISED

The property rights appraised are the fee simple estate. Fee simple estate is defined as:

"Absolute ownership unencumbered by any other interest or estate subject only to the four powers of government."

Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, 12th Edition, (Chicago, Appraisal Institute, 2001)

The four powers of government are eminent domain, escheat, police power and taxation.


FUNCTION OF THE APPRAISAL

The function of the appraisal is to serve as an indication of value, "as before and "as after" of the property as a whole, for the client so that the subject property may be used for legal proceedings evaluation, and/ or settlement.

SCOPE OF THE APPRAISAL

The scope of this appraisal includes an inspection (exterior and interior) of the subject property; an evaluation of the subject property in terms of conformity with local requirements and suitability of the property for its locale and intended use; and the collection of data to formulate and support an estimate of value for the subject property as of August 22, 2014 and "as before" and "as after."

Data will be collected in the general market area (usually considered to be the town/city in which the property is located), and will be confirmed by authoritative sources and/ or the parties involved in the data. All pertinent data will be reported, to the best of the appraiser's knowledge and ability.

Specifically considered within the scope of the appraisal is the degree of data reported. To expect a report to cover every item related to value is not realistic, or even possible. Entire books have been written about the underlying soils in Connecticut, for example, and these soils affect value. Every investment property bought and sold has its impact on every other investment property value, however small.

Likewise, every residence bought and sold impacts all the other residences in the state, however minuscule the degree. It is incumbent upon the appraiser to navigate his or her path through the available information, select that which he or she deems appropriate and relevant, and report that which is particularly relevant, informative, possible and practical. It is not possible for the appraiser to report everything that he or she may have encountered in his or her research, or to convey in writing every thought process that may have occurred.

3 Buttonwood Hill Road, Canton, Hartford County, CT John Lo Monte Real Estate Appl'aisers & Consultants Page 14

MARKET VALUE DEFINITION

As defined in the Office of the Comptroller of the Currency Appraisal and Evaluation Guidelines promulgated on December 10, 2010, the following is the definition of Market Value included in this report:

The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably and assuming the price is not affected by undue stimulus.

Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:

1. buyer and seller are both typically motivated.

2. both parties are well informed or well advised and each acting in what he considers to be his own best interest.

3. a reasonable time is allowed for exposure in the open market.

4. payment is made in cash in U.S. dollars or in terms of financial arrangements comparable thereto.

5. The price represents the normal consideration for the property sold unaffected by special financing or sales concessions granted by anyone associated with the sale.

The Most Probable Sales (Selling) Price is defined as:

"That price at which a property would most probably sell if exposed to the market for a reasonable time, under conditions prevailing as of the date of appraisal." (The Dictionary of Real Estate Appraisal. 4th Edition, Appraisal Institute, 2002).

Leased Fee Estate is defined as:

"An ownership interest held by a landlord with the rights of use and occupancy conveyed by lease to others. The right of the lessor (the leased fee owner) and the leased fee are specified by contract terms contained within the lease."


MARKET VALUE DEFINITION, continued

Fee Simple

"The most complete form of ownership is title in fee. Such ownership establishes an interest in real property known as fee simple interest; i.e., absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the governmental powers of taxation, eminent domain, police owner and escheat."

The Appraisal of Real Estate Twelfth Edition, published by the Appraisal Institute, 875 North Michigan A venue, Chicago, Illinois, 2001, Page 68.

Gross Building Area

"The total floor area of a building, including below-grade space but excluding unenclosed areas, measured from the exterior of the walls."

The Appraisal of Real Estate Fourth Edition, published by the Appraisal Institute. 550 West Van Buren Street, Suite 1000, Chicago, Illinois, 2002, Page 131.

Gross Living Area

"The total area of finished, above-grade residential space excluding unheated areas such as porches and balconies; the standard measure for determining the amount of space in residential properties. "

The Dictionary of Real Estate Appraisal Fourth Edition, published by the Appraisal Institute, 550 West Van Buren Street, Suite 1000, Chicago, Illinois, 2002, Page 132.

Prospective Value Estimate

"A forecast of the value expected at a specified future date. A prospective value estimate is most frequently sought in connection with real estate projects that are proposed, under construction, or under conversion to a new use, or those that have not achieved sellout or a stabilized level of long-term occupancy at the time the appraisal report is written."

The Dictionary of Real Estate Appraisal Third Edition, published by the Appraisal Institute, 875 North Michigan Avenue, Chicago, Illinois, 1993, Page 283.


IDENTIFICATION OF THE PROPERTY

The subject property consists of a 1.5-story wood frame (fairly newer built in 1984) single family, contemporary cape style dwelling commonly known as 3 Buttonwood Hill Road, Canton, Hartford County, Connecticut. The property is also identified as Lot 1580003, of Canton Assessor's Map 21. The current owner of record as of the valuation date is John G. and Corri B. Cottingham.

LEGAL DESCRIPTION/PROPERTY HISTORY

Title to the subject property is as of the valuation date in the name of John G. Cottingham, Jr. and Corri B. Cottingham which acquired the property via Warranty deed dated March 4, 2009. This deed is recorded in Volume 365, at Page 918 of the Canton Land Records. Consideration stated in this deed is $300,000. Please see the copy of this deed in the addenda of this report. No other transfers of the subject property have occurred since the last transaction, as noted.


REGIONAL MAP

is LAND

3 Buttonwood Hill Road, Canton, Hartford County, CT John Lo Monte Real Estate Appraisers &. Consultants

SOUND

August, 2014 Not to Scale

Page 18

COMMUNITY DATA

Location

Canton is located in central-west Connecticut, about 14 miles west of Hartford, in the Farmington Valley region. The town is a suburban community that has experienced robust growth in the past 25 years, when some of the town's farmland began to be developed with single family homes.

Transportation

Canton is served by U.S. Route 44, a highway of regional significance. U.S. Route 44 has nearby connectors to Routes 179, AKA Bridge Street, 177 and US 202, providing good highway access from Canton to all points. Local and state roads are all in good conditions, generally, and are well equipped to handle local and intercity traffic.

Population

The population of Canton was 8,840, according to the 2000 census, and continues to grow. 2011 population is estimated at 10,335. In the 1990-2010 period, Canton's population grew 2. 5 % . This rate of growth far exceeds the population growth of Hartford Labor Market Area (6.9%) Hartford county (6.0%) and the State of Connecticut (9.8%) as a whole. Unemployment levels in Canton are below state averages, and average per capita income is higher than Hartford county and state levels.

Canton is bordered on the north by the towns of Granby and Barkhamsted, on the east by the Town of Simsbury, on the south by the towns of Avon and Burlington and on the west by the Town of New Hartford.

It is approximately fourteen miles west of Hartford, the capital, and the location of major employment centers. As noted, U.S. Route 44 runs through Canton, east to west and is the major commuting Route for the area.

Canton is home to some industries of which the principal are: agriculture, and light manufacturing. However, primarily it is a residential community. The Town of Canton is located in an excellent area in central-west Connecticut within a fairly short distance of Hartford, East Hartford, Farmington, West Hartford, Bloomfield and Granby, home to some of the largest private as well as public employers.


COMMUNITY DATA, continued

Population, continued

Route US 44 runs east to west through town and is its main commercial district. There are two large sized shopping centers, many restaurants and small strip centers; moreover, additional retail space, or a shopping center is currently under construction along Route 44; in addition, there are several newer small office buildings and light industrial parks. Canton has a good school system.

Canton is a small town with ample remaining land to be developed. The population tends to remain stable creating a pleasant "hometown" environment.

Over a 30-year period, the Canton Land Conservation Trust has acquired several parcels of land in Canton and Barkhamsted, approximately 1,200 acres in all. This property is open to all Canton residents for use as passive and low-environment-impact recreation. The Land Trust receives support from private donations of land and from its sales of Christmas trees in December.

Overall Canton is a desirable residential community in which to live and work and should remain so into the foreseeable future in your appraiser's opinion.

Employment Characteristics

Canton is a western suburb of Hartford, the capitol of Connecticut; the commute by highway into Hartford is about 25 minutes.

The population grew by 16.9% in the period of 2000-2011 and is expected to experience a 0.4% growth in the period of 2011-2016. The current population is about 10,139.

The median household income in Canton exceeded the state average in 2011, $82,619 versus $69,243. The town ranked 59th out of 169 towns in the state in household income.The town has a Board of Selectmen/Town Meeting form of government, a volunteer fire department, and a paid police department.

Economic indicators show Canton to be above-average in most respects with regard to population growth income levels and housing. Local government has been responsive to town citizens and their needs, and an active participating citizenry indicates that past growth will continue in a beneficial fashion, maintaining the quality of life that the town has come to enjoy.



Income

State of Connecticut Hartford County Burlington Granby Farmington Avon Simsbury Canton

Median Household Income: 2011 Canton and Environs

$69,243 $64,007 $114,792 $99,190 $86,675 $107,733 $116,554 $82,619

Connecticut Town Profiles January, 2013.

Household Trends

Several of the most significant demographic changes to occur in Canton during the last three decades involve the composition of the town's households. The town's average household size has decreased considerably since 1990, reflecting nationwide trends of declining birth rates and increasing divorce rates.

The most prominent change in Canton household characteristics has been the decrease of persons living in family households and the corresponding increase of residents in non-family households. This trend, common in many other areas, indicates that between 1990 and 2010, there has been a decline in the total persons by household.



Residential and Employee Mobility Characteristics

Canton, is centrally located in the State of Connecticut approximately 100 miles from New York City to the south and approximately the same distance from Boston to the northeast.

According to the Office of Research and Information and the Connecticut Labor Department's Employment Security Division, the civilian labor force was at 594,551 in the Hartford Labor Market Area which includes also the town of Canton, as of June 1, 2014 with a 6.5 percent unemployment rate. Statewide the unemployment rate stood at 6. 7 percent in June of 2014. The national rate stood at 6.1 percent for the same period.



The population of Canton is a mature, stable community that has a diverse mixture of land use patterns that have created logical neighborhood districts throughout the community.

Hartford County 2011 median household income was $64,007; for the same period the state median household income was $69 ,243. Canton median household income for 2011 was $82,619.

The total labor force in Canton as of June, 2014 was 5,852 with an unemployment rate of 4.3% which is much lower than the state average (seasonally adjusted) of 6.7% and the Hartford LMA of 6.5% for the same period. The annual 2010 average unemployment rate for Canton was 6. 8 % .

Source: Connecticut Department of Labor Office of Research; The Connecticut Economic Digest; June 2014; The Connecticut Economy, Quarterly Report: Fall 2013



Employment

The Hartford Labor Market Area (LMA) and the Hartford Service Delivery Area (SDA) includes the towns immediately surrounding Hartford. A large percentage of the jobs in the LMA are non-manufacturing. The SDA is larger in geographical scope and includes towns with significant manufacturing base.

The Hartford LMA has sustained moderate growth levels in job growth by industry. Much of the state has experienced declines in the manufacturing sector.

Transportation

Routes 179 and 177 cross the town of Canton in a north/ south direction and provide access to Northern and Southern Connecticut. US Route 44/202 cross the town of Canton in an east/west direction.

Bradley International Airport is located approximately 20 miles to the northeast of Canton, in Windsor Locks.

In conclusion everything necessary for the town of Canton to grow and attract industrial, commercial as well as residential users is present in the town. No detrimental factors are anticipated to alter the aforementioned factors which are present in the town at this time, in our opinion.



Housing Stock 4,175 372,697

Existing Units (total) % 77.8 60.8 Single Unit Detached

New Permits Authorized 8 838 (2012)

Demolitions (2012) 0 192

As% of Existing Units 0.19 0.22

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Average Price N/A

Median Price $301,950

Less than $100,000 4

$100,001-$200,000 16

$200,001-$300,000 20

$300,001-$400,000 8

400,001 or more 35


5,480

N/A

$225,000

264

1,962

1,666

780

808

4,481,39 6

64.4

4,669

955

0.32

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17, 157

N/A

$246,000

1, 114

5,005

4,614

2,589

3,835

Page 25


Conclusion

In summary, the town of Canton is considered a healthy and growing community that has been an increasingly popular community in which to live and work.

The underlying factors contributing to this popularity, a stable real estate taxes rate, a good school system, relatively easy commuting and fairly strong employment opportunities within its borders remain in place and suggest the slowdowns in real estate market activity and declining prices (generally), as a result of the economic slowdown affecting the region are temporary, if not already a sign of the past for many sectors of the local as well as regional economy.

The long-term outlook for the community real estate values should be slow but steady appreciation, generally, once the economy recovery takes full effect in every economic sectors, particularly in the employment section of the economy.


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NEIGHBORHOOD DATA

The purpose of the Neighborhood Data section is to analyze the influence of the surrounding neighborhood on the highest and best use of the subject property. A neighborhood is a group of complimentary land uses, as defined in the 12th Edition of The Appraisal of Real Estate, (The Appraisal Institute, 2001). A neighborhood exhibits a greater degree of uniformity than a larger area. Neighborhood boundaries often coincide with changes in land use, occupant characteristics, and physical characteristics such as street patterns, terrain, lot sizes, and transportation arteries.

The neighborhood in which the subject property is located lies in the extreme central-west part of Canton, and to the northwest of the quadrant known as Collinsville. The neighborhood is bounded roughly by Route US 44 (Albany Turnpike) on the north, by the Farmington River on the south, by the Route 179 to the east, and by the New Hartford Town Line to the west. The area is one of rolling land, both open and wooded, with scattered areas of residential development, and mixed uses, primarily along Routes 44 and 179.

Area properties consist of newer commercial and service uses, small to medium sized farms, newer subdivisions and newer commercial properties. Route 44 AKA Albany Turnpike, Simonds Avenue, Dowd Avenue and Route 179, also known as River Road, dominate the area. Particularly Route 44, the region's major thoroughfare, is home to several small to medium sized strip shopping centers, small office buildings and mix-use buildings have all been either constructed and/or rehabbed during the relatively recent past. Neighborhood locational amenity is very good.

Area topography is rolling, with local roads all paved and municipally maintained, and all public utilities generally available. The older and newer properties provide a reasonably good mix, with no detriment to either group, in the opinion of your appraiser. The area continues to be attractive and growing, though development has slowed somewhat during the past five years, more or less.

It is expected that demand for both residential and commercial properties will improve, however, as the Connecticut economy rebounds. While recovery is expected to be very gradual, the subject neighborhood, with its very good proximity to Hartford should be among the more attractive, and one of the early beneficiaries of any economic recovery.

The life of a neighborhood has four stages: 1) Growth, 2) Stability, 3) Decline and 4) Revitalization. The subject neighborhood would best be described as Number 1, in a state of growth, albeit slightly, due to the oversupply of all type of real estate as a result of the overbuilding that occurred in the 2005-2008 time frame; at this time, to the best of our knowledge there are not many, if any, planned community developments, or residential subdivisions.


NEIGHBORHOOD DATA, continued

The general neighborhood is serviced with paved streets, street lighting, storm sewer, on site well and septic sytstem, electricity, telephone service and propane gas service.

Conclusion

The subject neighborhood is an appropriate location for the subject property; this type of property, or newer single family dwelling in a residential zoned (R-2) parcel located close to a major thoroughfare (Route 44) in the area, is a short supply commodity in the town of Canton, since there are only limited vacant tracts left which could benefit from the aforementioned locational characteristics. As a result, the location is a very good one being easily accessible via Route 44/202, AKA Albany Turnpike, and via Route 179 AKA River Road.

Traffic is very heavy along both roadways, Route 44 and Route 179 at most times of the day, and as a result congestion sometime is a problem, particularly during the rush hours. This highway (Route 44), connects Canton with Hartford, and it is the primary arterial connector which bisects the town of Canton in a west/ east direction.

Present and future development will be in the form of residential, retail, specialty stores and commercial buildings. Growth may be limited by the amount of vacant land available for development.

In conclusion there is nothing in the subject neighborhood which could detract from the subject property as improved, as per zoning, residential (R-2) District, homogeninity of use and curb appeal.

3 Buttonwood Hill Road, Canton, Hartford County, CT I ohn Lo Monte Real Estate Appraisers & Consultants Page 29

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ZONING

3 Buttonwood Hill Road. Canton. Hartford County. CT


Purposes



Permitted Uses As of Right Uses permitted by right within the R-2 zone include single-family dwellings; accessory buildings and uses; and home occupations.

Uses permitted and approved by the Commission include, but are not limited to, cluster developments, multi-family dwellings, elderly housing developments, two-family dwellings and age restricted housing communities.

For other permitted accessory and/or special permit uses refer to Town of Canton Zoning Regulations.

Area, dimensional and bulk requirements within the R-2 Residential Zoning District within the Town of Canton, as they apply to the property being evaluated, are as follows:


ZONING ANALYSIS, continued

Minimum Lot Area: 43,560 sq ft (single family)

Minimum Depth Front Yard: 40 feet

Minimum Lot Width: 150 feet

Minimum width One Side Yard: 15 feet

Total Minimum Width of Both Side Yards: 30 feet

Minimum Depth Rear Yard: 15 feet

Maximum Lot Coverage: 15%

Maximum Permitted Height: Vh stories, or 35 feet

Minimum Floor Area For

Minimum Open Space: In all residences zones front yard, rear yard and two side sideyards.

Source: Zoning Regulations, Town of Canton

Assessor's Identification: Map 21, Block NIA, Lot 158003

Class: R-2; residence district

Site Size: 1.09± acres


ASSESSMENT AND TAX DATA

The current assessment and taxes on the subject property is as follows:

3 Buttonwood Hill Road, Canton, CT

Assessment: $292, 170 (full market value)

Assessed Value: $70% of FMV; $204,520

Tax Rate: 28.56 Mills per each $1,000 of the assessed value.

Assessed Taxes: $5,841 (rounded) yearly

Date of Assessment: October 1, 2013

The above assessment is based on 70 per cent of market value with the last revaluation having taken place in the Town of Canton in 2013. Revaluation methods in Canton usually are based on the cost method of valuation.

Typically, the Marshall Valuation Service is utilized to estimate reproduction cost new, and buildings are depreciated accordingly. Site valuation is typically based on value per site, with adjustments for frontage, depth, and comer influence. The mill rate has been set at 28.56 mills for the grand list of October 1, 2013.

According to the Canton Tax Collector Office, the subject property owner is current as to tax liability payments on the property.


DESCRIPTION OF THE SITE

The property that is the subject of this report consists of a 2,570 square foot, more or less, newer residential contemporay cape style dwelling of 8-rooms, 4-bedrooms and 2.5-baths, built in 1984 on 1.09 acres of land, more or less, on the northerly side of Buttonwood Hill Road, in Canton, Hartford County, Connecticut. Bidwell Farm Road is situated in the central-west quadrant of Canton and very near the New Hartford Town Line situated roughly 1A mile to the west of the subject neighborhood itself.

The site is a rear parcel since is recessed approximately 290 feet from Buttonwood Hill Road and is accessed via a private roadway. The site is an approximately rectangular shaped parcel of land and is identified as Lot 158003, on the Cantron Assessor's Map Number 21. The lot contains approximately 47,480 square feet of land area, or 1.09 acres according to the referenced Assessor's map and property legal description.

The parcel has a street frontage of 30 feet on Buttonwood Hill Road, and a maximum depth of approximately 290 feet on the northerly side. The site is accessible by a gravel covered private roadway and accessible from the north side of Buttonwood Hill Road. To help the reader visualize the site, a copy of the Assessor's Map will be included in the following pages of this section. Moreover, the reader could refer to the photos of subject property included in the Photographs of Subject Property section in this report.

The site is level and at street grade with a gentle northwesterly upward slope toward the rear and westerrn boundary lines.

The subject site is improved with a 1. 5-story frame construction residential (contemporary cape style dwelling) structure with clapboard siding exterior. Please see the photographs, and the Assessor's Map provided for a visual representation of the site.

The site is located in the central-west quadrant of Canton and along Bidwell Farm Road. Access to Route 44/202 and Route 179 is good; in this respect the location is good to very good.

The site is improved with all town services and amenities, including electric, communication lines, on site well and on-site septic. In addition to the subject dwelling, the site is improved with typical and adequate as well as professional landscape to the front, each side and the rear side.


DESCRIPTION OF THE SITE, continued

Site Identification

Tax Assessor Reference

Source of Site Data:

Map 21; Block NIA; Lot 158003

Tax Assessor Map: Canton Land Records, and physical inspection by the appraiser

Physical Characteristics

Land Area

Frontage

Topography

Configuration

Parking

Landscaping

Approximately 47 ,480 square feet of land, in total, or 1.09 acres, more or less. The appraiser has utilized the land area from the referenced Assessor's Map, legal description and physical inspection of the property.

30 ± feet of front along the northerly side of Buttonwood Hill Road

The site is level and above street grade; it slopes gently upward in a northwest direction toward the rear and west boundary lines.

Rectangularly shaped, generally

Adequate on-site for at least 2 cars plus 2 car (attached) garage

Typical to good to the front, east side, west side and to the rear

Easements/Restrictions

No easements have been noted in the land records, other than typical utilities easements of record. However, this office is not a title searching firm, and a more detailed review should be made if the client desires.



Physical Characteristics, continued

Nuisances and Hazards

Inland Wetland-Watercourses A review of the official wetlands and watercourses map indicate that the

subject property is not impacted by wetlands. It is situated in Zone X, or area(s) of minimal flooding.

Flood Zone

Utilities

Sanitary Sewers Municipal Water Propane Gas Electricity Telephone

Excess Land

Site Utility

FEMA/FIRM: Community Panel No: 09003 C0169F map revised on September 26, 2008, Panel 169 of 675.

On-Site Septic On-Site Well

Available Connected Connected

None

The parcel does allow for adequate park like setting and open space. Thus, in our opinion, the physical and functional characteristics of the site appears to be in conformance with the standards of typical purchasers in the marketplace.



Your appraiser has no knowledge of any hazardous materials used in the construction and the maintenance of the property, including asbestos, but this does not mean that none are present in the structure or in the ground. A thorough environmental assessment is recommended to anyone with an interest in the subject property.

In the absence of any known or suspected detrimental environmental conditions, this appraisal is predicated on none being present that could affect the value of the property. Should such conditions become known, then this appraisal is subject to revision.

If more information is needed, the client should consult an expert in this field.

In general, the site is adequate for its present use, which also is its highest and best use. It is a residential site with satisfactory and good physical and locational characteristics. The subject site has adequate visibility and good accessibility afforded by its location near Route 44 (AKA Albany Turnpike), one of the town's and region's major east/west arterial routes and in close proximity to Route 179.


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Page 38

DESCRIPTION OF THE IMPROVEMENTS

3 Buttonwood Hill Road. Canton. Connecticut

Located on the subject site is a fairly newer (built in 1984) and adequately maintained as well as remodeled residential single-family contemporary cape style dwelling, with clapboard siding exterior. This dwelling is known as 3 Buttonwood Hill Road. According to the assessor's office field card information, and based on a visual inspection (exterior/interior) completed on August 22, 2014, the property contains 8 rooms (2,570 sq ft of living area), above grade, with 4-bedrooms and 2.5 baths including a bonus room over the garage area of approximately 528 Sq Ft.

The general condition, as of valuation date was good to very good with no major deferred maintenance items noted as of the valuation date.

For a visual representations of the premises the reader could refer to the photos of subject property section earlier in the report.

The significant elements of the subject dwelling are as follows:

Type of Property Single family cape contemporary style dwelling

Foundation Concrete

Age 1984; remodeled

Frame Wood

Floor structure Wood joist

Floor cover Hardwood floors; subflooring and wall to wall carpeting; ceramic tiles for the baths

Ceiling Drywall throughout

Interior construction Frame partitions with painted drywall.

Fenestration Thermopane windows with aluminum screens.


IMPROVEMENTS DESCRIPTION, continued

3 Buttonwood Hill Road. Canton. Connecticut, continued

Exterior walls

Kitchen:

Baths

Plumbing

Electrical

Heating and hot water

Doors

Roof

Central Air

Clapboard siding

Oak cabinets, Formica counter with double sink with dishwasher.

2.5 full baths containing two, or three and/or four fixtures each. Modern decor.

Mixture of galvanized and copper

200 Amperes main service circuit breaker type

Oil fired hot water heat and domestic hot water

Wood paneled doors for the front and rear entrances; hollow and/or solid core wood doors for the interior. There is a sliding door to the rear to access the deck of 190 sq ft. Paneled composition garage door.

Gable with architectual style asphalt shingles for cover

Yes


IMPROVEMENTS DESCRIPTION, continued

3 Buttonwood Hill Road. Canton. Connecticut, continued

Miscellaneous

Conditions:

There are two car (attached) garage comprising 528 sq ft with electric eye openers.

There is a so called bonus room of 528 Sq Ft over the garage area. There is a wood deck of 190 sq ft to the rear. Vaulted ceiling in family room with stone fireplace.

Based on an exterior and interior inspection of the premises, based on information contained in the assessor's office field card, and based on adequate information provided by the current subject property owner, it is your appraiser opinion that the overall condition of the subject premises as of August 22, 2014, the valuation date, was good to very good.

Floor plan and layout of the dwelling as of the valuation date and the Canton Assessor's records were examined to develop a description of the subject property improvements and their condition. Your appraiser feels that a reasonably reliable description of the site improvements has been obtained through this inspection and research.


HIGHEST AND BEST USE

Highest and best use is defined as:

"That reasonable and probable use that will support the highest present value, as defined, as of the effective date of the appraisal.

"The definition immediately above applies specifically to the highest and best use of the land. It is to be recognized that in cases where the site has existing improvements on it, the highest and best use may very well be determined to be different from existing use. The existing use will continue, however, unless and until land value in its highest and best use exceeds the total value of the property in its existing use.

"Implied within these definitions is recognition of the contribution of that specific use to community environment or to community development goals in addition to wealth maximization of individual property owners. Also implied is that the determination of highest and best use results from the appraiser's judgement and analytical skill, i. e., that the use determined from analysis represents an opinion, not a fact to be found. In appraisal practice, the concept of highest and best use represents the premise upon which value is based. In the context of most probable selling price (market value) another appropriate term to reflect highest and best use would be most probable use. In the context of investment value an alternative term would be most profitable use."

Real Estate Appraisal Terminology Compiled and Edited by Byrl N. Boyce, Ph. D. American Institute of Real Estate Appraisers Society of Real Estate Appraisers

Highest and Best Use Criteria

In considering the highest and best use for the subject property your appraiser consideration has been given to the following: the most profitable economic use, assuming that the zoning and resulting legal use are appropriate for the subject.

The property is located in an R-2 residence (residential) neighborhood; it is located near Routes 44 and 179 and in the central-west quadrant of Canton. The site is already improved with a single family dwelling and site improvements that make substantial contribution to the property value.

Due to the good to very good overall condition of the structure on the site, considering the location, market appeal and demand for property of this type is average to good, and should continue to be so for the foreseeable future.


HIGHEST AND BEST USE, continued

Highest and Best Use Criteria, continued

Therefore, it's your appraisers' opinion that the highest and best use for the subject property will be for its continued use as a single-family dwelling for its remaining economic life.

By definition the highest and best use of the site would be the best utilization of the land configuration in conjunction with zoning, location and all the amenities described above. To make such an analysis of the site is beyond the scope of this appraisal, but for purposes of this appraisal the use is considered to be its best and highest.

Highest And Best Use As Improved

The subject is improved with a 2,570± square feet residential single-family wood frame contemporary cape style dwelling which layout of the improvements meets with the character of the neighborhood; moreover, the premises are in keeping with the density required, based on current zoning regulations, such use is legal and conforming since it post-dates current zoning regulations.

Hence, the site for purposes of this appraisal will be considered adequate for the consideration of the best and highest use with construction as well as remodeling and upkeep of the subject residential dwelling, having occurred in various stages and to varying degrees.

The value of the land as vacant is available to be improved to its "Highest and Best Use" should be considered equal to the value of the site as improved now. For purposes of this appraisal the use will be considered as defining and supporting its Best and Highest Use.


VALUATION PREMISE-APPROACHES TO VALUE

There are three classical approaches to value used in appraising real estate. They are defined as follows:

COST APPROACH: "That approach in appraisal analysis which is based on the proposition that the informed purchaser would pay no more than the cost of producing a substitute property with the same utility as the subject property. It is particularly applicable when the property being appraised involves relatively new improvements which represent the highest and best use of the land or when relatively unique or specialized improvements are located on the site and for which there exist no comparable properties on the market."

DIRECT SALES COMPARISON APPROACH: "That approach in appraisal analysis which is based on the proposition that an informed purchaser would pay no more for a property than the cost to him of acquiring an existing property with the same utility. This approach is applicable when an active market provides sufficient quantities of reliable data which can be verified from authoritative sources. The direct sales comparison approach is relatively unreliable in an inactive market or in estimating the value of properties for which no real comparable sales data are available. It is also questionable when sales data cannot be verified with principals to the transaction. "

INCOME APPROACH: "That procedure in appraisal analysis which converts anticipated benefits (dollar income or amenities) to be derived from the ownership of property into a value estimate. The income approach is widely applied in appraising income-producing properties. Anticipated future income and/or reversions are discounted to a present worth figure through the capitalization process."

Real Estate Appraisal Terminology Compiled and Edited by Byrl N. Boyce, Ph. D. American Institute of Real Estate Appraisers Society of Real Estate Appraisers

The only approach to value developed in this report will be the direct sales comparison approach to value, as applied "in the before" and "in the after."


VALUATION PREMISE-APPROACHES TO VALUE, continued

The income approach to value has been considered; however, typically single family dwellings are purchased for owner occupancy and not for the production of income. The resulting approach to value would be less than reliable, and could be misleading to the readers of the report. For this reason, the income approach has not been developed here.

Please see the following pages for the development of the direct sales comparison approach to value.


DIRECT SALES COMPARISON APPROACH

The direct sales comparison approach to value is based primarily on the principle of substitution, wherein "the value of a property tends to be set by the price that would be paid to acquire a substitute property of similar utility and desirability within a reasonable amount of time" (The Appraisal of Real Estate, 12th Edition; 2001).

Under the Direct Sales Comparison Approach, market values are derived from a study of similar properties. Hypothetically, the adjustments made using the Direct Sales Comparison Approach reflect a buyer's preference for a dwelling. A dwelling and/or property comparable to the subject property would represent an acceptable alternative for a buyer in the current market. Adjustments are made in order to establish comparability based upon the appraiser's knowledge of the market, observation of price, locational trends, amenities, and discussions with principals and brokers in the market place.

As noted, this approach is related to the principle of substitution. No one will pay more for a property if he can acquire one of similar utility for a lower price. The value of the subject is presumed to be directly related to the price of the comparable sale. Similarity of use, for example, a contemporary style single-family dwelling used as a comparable for valuing another contemporary, cape and/or colonial style single-family dwelling, is an analogy which is easily accepted by everyone involved with real estate. Both appraisers and laymen accept and understand this method of valuing real estate.

The similarity of use is the easiest of characteristic to find in a comparable sale. Unless the appraiser is dealing with a special-purpose property, there are usually a number of dwellings used for similar purposes. Due to zoning regulations, dwellings and/or buildings used for similar purposes frequently are located in the same general area.

Identical dwellings, that is a cape and/or colonial style single-family dwellings which are physically identical, are rare in the market. Even if an identical contemporary style dwelling was found which was identical in size, age and layout, and was served by the same utilities, the appraiser would have to deal with location. Each location on earth is unique and requires adjustments in order to deal with the difference between the property being valued and the sale used as a comparable.

Adjustments must be made for locational and physical differences. Adjustments are always made from the sale to the subject. If a sale has a superior characteristic, the adjustment is negative. If the characteristic is inferior to the subject, the adjustment is positive. The object is always the property being appraised and all the adjustments are an attempt to make the sale price of the comparable equal to the value for the subject.


DIRECT SALES COMPARISON APPROACH, continued

Physical characteristics are not the limit of what should be examined by the appraiser. The circumstances which surround a particular sale are in many cases as important as the physical similarity to the subject. General market conditions, at the time the comparable was sold, may differ markedly from current conditions. An adjustment for time may be used to deal with this adjustment.

The conditions of sale are also important. Was the sale an arms-length transaction? Did the seller receive something of value for the property besides cash? If the seller provided financing, was what he or she received equal to or less than "all cash"? Many of these questions are raised by our definition of value and the appraiser in making comparisons must be able to identify and deal with the circumstance which surround a particular transaction.

In order to discover these circumstances, the appraiser has checked the land records. Brokers and principals to transactions have been contacted and the information obtained has been used to adjust the various sales.

The Direct Sales Comparison Approach to Value is particularly reliable when adequate sales of properties similar to the subject which would require relatively few adjustments resulting in a reasonable estimate of market value are readily available. This method of valuation is considered to be highly relevant, as this approach best addresses the behavior of buyers and sellers who constitute the market for such properties.

The pool of one-family property sales somewhat similar, i.e. functional utility, to the subject is adequate at this time. Therefore, a search has been conducted to find the recent sales of reasonably similar single-family contemporary cape and/or colonial style properties from which adjustments could be made to arrive at an estimate of market value.



Methodology

There are many elements to consider when comparing similar or somewhat similar properties; however, there are six main common elements of comparison that cause prices to differ between properties; when appropriate, other elements of comparison such as financial characteristics are considered. These elements are listed below:

Real Property Rights Conveyed:

This adjustment relates to the type of ownership transferred and how the conveyed interest relates to the interest being appraised.

Financing Terms:

Adjustments for financing terms are based on the extent that favorable financing influenced the comparable sale price and can be measured.

Conditions of Sale:

This adjustment usually reflects the special motivations of the buyer and/ or seller.

Market Conditions <Time of Sale):

An adjustment for market conditions reflects changes that may be caused by a variety of factors such as inflation, deflation, recession, fluctuations in supply and demand.

Location:

An adjustment for location is required when the locational characteristics of a comparable property are different from those of the subject property.

Concessions:

This adjustment usually reflects not an arm's length transaction, and/or a transaction affected by undue stimulus on the part of either party to the transaction.



Physical Characteristics:

Adjustments for Physical characteristics are made for such factors as land and/or dwelling size, road frontage, availability of utilities, topographical characteristics, functional utility of the land or building, land-to-building area ratio approved or allowed, dwelling age or condition, construction materials and quality, and numerous other characteristics.

The methodology used is the percentage adjustment. This methodology is based on the premise that each factor influencing value has an independent and interdependent effect on value. By adding and/or subtracting the adjustments together, we derive a final adjustment factor.

This factor is then multiplied by the sales price adjusted where appropriate for financing, market conditions (time of sale), conditions of sale, site size, concessions, building size, building condition-type, zoning and location to arrive at a final adjusted sales price.

Historically smaller buildings-dwellings tend to sell for more on a per unit basis all other things being equal. If necessary a downward adjustment will be applied to the comparable sales utilized in the Market Approach/Direct Sales sections.

Historically larger buildings-dwellings tend to sell for less on a per unit basis all other things being equal. If necessary an upward adjustment will be applied to the comparable sales utilized in the Market Approach/Direct Sales sections.

All statements contained herein, unless otherwise attributed, represent the opinion of your appraiser.

Within the development of this approach, the following sales of single-family contemporary and/or colonial style properties have been analyzed, inspected and compared to the subject property in order to produce an estimate of value by the direct sales comparison approach to value.

A number of contemporary cape and/or Colonial style single-family sales have been considered and examined. Four of these sales have been selected and examined in detail to arrive at an indicated value by the direct sales comparison approach to value.



Address , · No •. or. · Sale:/• : ¥~ar ••· Dwell-\ /Site· <No.••.• . S"I!I /

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.R.()()~/: Pi-i~~· ·Builf .. · ... i'. iri.g· < ·size•!····· of· .. ·· SF B:RS•···: ··.· ··· ·. ($).· · .. ·•. · Gross ± ·· Baths ·•··

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4 Bidwell Farm Road 7-15-14 10-5-br 405,000 1987 3, 164 1.01 2.5 128.00

19 Woodland Drive 9-25-13 7-3-br 425,000 1984 2,675 1.26 2.5 158.88

57 Indian Hill Road 3-5-14 10-3-br 305,000 1987 2,782 3.53 3.0 109.63

31 Mohawk Drive 10-16-13 6-3-br 361,500 1965 2,688 2.00 2.0 134.49

2 Buttonwood Hill Road 8-7-13 7-4-br 285,000 1980 2,622 1.50 2.5 108.70

21 Tanglewood Drive 8-1-14 6-3-br 380,000 1984 2,478 2.15 2.5 153.35

3 Buttonwood Hill Road (Subject) 8-4-br 2,570 1.09 2.5

Please see the following pages for additional details regarding the aforementioned sales.


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Sale No. 1 4 Bidwell Farms Road, Canton, CT

Sold on 7-15-2014; Sale Price: $405,000 ($128.00/Sq Ft GLA)

3 Buttonwood Hill Road, Canton, Hartford County, CT John Lo Mome Real Estate Appraisers & Consultants

I

Page 52


Sale No. 1 4 Bidwell Farms Road, Canton, CT

Michael W. Barnstead, et al to Christopher Leadbetter, et al

Recorded:

Date:

Sale Price:

Zone:

Site Size:

Dwelling size:

Dwelling style:

Age:

Reference:

Volume 413, Page 703

July 15, 2014

$405,000

Residential; R-2

44, 000 ± square feet (1. 01 acres±)

3,164 square feet (includes 576 sq ft of former and finished garage)

Colonial

1987

Map 17; Block NIA; Lot 1250004

Sale price per SF of dwelling: $128.00 (to include the land)

Financing: At market; Wellsfargo Mortgage in the amount of $413,700

Comments: Built in 1987; clapboard exterior; 10 rooms with 5-bedrooms and 2.5 baths. Built on full (and unfinished basement). Superior condition-type to the subject overall; somewhat tempered by the subject's younger age. The net result is a slight upward adjustment will be applied for dwelling condition. Slight inferior location as to privacy; as noted, the subject is a rear parcel affording a great deal of privacy and park like setting. Good to very good overall condition. An adjustment is needed and will be applied for location considered to be slightly inferior to the subject overall.



Sale No. 2 19 Woodland Drive, Canton, CT


3 Buttonwood Hill Road, Canton, Hartford County, CT John Lo Monte Real Estate Appraisers & Consultan!S Page 54


Sale No. 2 19 Woodland Drive, Canton, CT

Grantee: Eugene Harris, et al

Recorded: Volume 408, Page 371

Date: September 25, 2013

Sale Price: $425,000

Zone: R-3; Residential (3) District

Site Size: 54,886 square feet± ( 1. 26 acres±)

Dwelling size: 2,782 square feet±

Age: 1984

Dwelling style: Colonial

Reference: Map 27; Block NIA; Lot 5870018


Financing: At market

Comments: Built in 1984; clapboard siding exterior colonial style dwelling with 7-rooms (3-bedrooms) and 2.5 baths; very good to new condition. Superior condition to the subject; slightly inferior location to the subject. Full and partially finished basement included with the total GLA.



Sale No. 3 21 Tanglewood Drive, Canton, CT


3 Buttonwood Hill Road, Canton, Hartford County, CT John Lo Monte Real Estate Appraisers & Consultants '

Page 56


Sale No. 3, continued 21 Tanglewood Drive, Canton, CT

Albert Albrycht, et al to Sonia Bernier


Date: August 1, 2014



Site Size: 93 ,654 square feet± (2 .15 acres±)

Dwelling size: 2,478± square feet

Dwelling style: Contemporary

Age: 1984

Reference: Map 27, Block NIA, Lot 5150021


Financing: At Market

Comments: Good to very good overall condition. Slightly inferior location; nevertheless it's considered to be a very good comparable since it's located within the subject's market area, it's of similar appeal and functional utility and it's a very recent sale as well.

Vertical clapboard exterior. Two car (attached) garage. There is no central air conditioning. Hardwood floors. Partially finished basement comprises 326 sq ft of additional living area. This dwelling was substantially remodeled prior to the sale date; good to very good overall condition.



Sale No. 4 2 Buttonwood Hill Road, Canton, CT



\ Page 58


Sale No. 4 2 Buttonwood Hill Road, Canton, CT

Grantee: Todd and Heather Santelle


Date: August 7, 2013



Site Size: 65,340± square feet (1.50 acres±)

Dwelling size: 2,622 ± square feet

Dwelling style: Contemporary

Age: 1980

Reference: Map 21; Block NIA; Lot 1580002

Sale price per SF of dwelling: $108. 70 (to include the land)

Financing: At market

Comments: Built in 1980 and adequately rehabbed and updated. Inferior condition-age; inferior location to the subject. Vertical clapboard exterior; 7 rooms, 4-bedrooms and 3 baths. 289 sq ft deck and central air conditioning. This is a recent sale and is considered a very good comparable to the subject. However, adjustments will be applied for location (inferior), and for dwellingage and condition considered to be slightly inferior to the subject overall.

As for location, this sale is situated on the southeast comer of Route 44 (Albany Tpke.) and Buttonwood Hill Road, as oppose to the subject, being a rear parcel and a 290 feet setback from Buttonwood Hill Road affording a great deal of privacy and park like setting.



Recapitulating the sales in tabular form:

4 Bidwell Farm Road 7-15-14 10 405,000 1987 3, 164 1.01 128.00

19 Woodland Drive 9-25-13 7 425,000 1984 2,675 1.26 158.88

21 Tangelwood Drive 8-1-14 6 380,000 1984 2,478 2.15 153.35

2 Buttonwood Hill 8-7-13 7 285,000 1980 2,622 1.50 108.70 Road

3 Buttonwood Hill 8 1984 2,570 1.09 Road (subject)

All four sales utilized show remarkable consistency in most areas. These are all recent to very recent sales of single-family contemporary, or colonial style dwellings of various sizes and layout in the immediate and general subject neighborhood and/or within a similar subject's market area. Moreover, all four sales utilized are of generally similar vintage and type of construction; hence, exhibiting very similar characteristics and market appeal to the subject.

However, as for locational characteristics, all four sales utilized are generally inferior to those of the subject property which enjoys a park like setting being recessed approximately 300 feet from the roadway. All four sales are recent to very recent since they have occurred between August 2013 and August 2014.

Therefore, all four sales are considered very good comparables as to market conditions and amenities that they have to offer. Other factors considered will be condition of the premises, site and dwelling size, dwelling style-curb appeal, financing, condition of sale and other factors which may have influenced the sale price.

An adjustments grid, attempting to reconcile the differences between the sale properties and the subject property, will be found on the following page.



.•·A.[)JU~'.J"lVJENT•GR10•••1As•:~e~()~~)···

Selling Price Per Square 128.00 Foot ($)

Property Interest 1.00 Fee Simple

Financing 1.00 Conventional or Cash

Conditions of Sale 1.00 Arm's Length

Market Conditions 1.00 Typical

Multiplier 1.0000

Adjusted Sale Price ($) 128.00

Location +5%

Physical Characteristics +0%

Economic Characteristics +0%

Dwelling GLA +0%

Dwelling Condition-Style +0% & Age

Site Size +0%

Non-Realty Components +0%

Sum of Other +5% Adjustments $6.40

Indicated Value of 134.40 Subject ($)/SF


158.88 153.35

1.00 1.00

1.00 1.00

1.00 1.00

1.00 1.00

1.0000 1.0000

158.88 153.35

+5% +5%

+0% +0%

+0% +0%

+0% +0%

-15% -5%

+0% -10%

+0% +0%

-10% -10% ($15.89) ($15.34)

142.99 138.01

108.70

1.00

1.00

1.00

1.00

1.0000

108.70

+5%

+0%

+0%

+0%

+10%

+0%

+0%

+15% $16.31

125.00

..

.. .

Page 61


Analysis <As Before)

After adjustment, the sales indicate a value range of $125.00 to $142.99 per square foot; this is a fairly narrow range of values and one from which a reasonable per unit value can be extracted, in our opinion.

The range is reasonably consistent, and provides a reliable indication of value for the subject property by the Direct Sales Comparison Approach to value. Adjustments rendered are reasonable and have been applied to adjust for various characteristics between the comparable sales and the subject property.

If the highest (No. 2) and lowest (No. 4) sales are eliminated the other two sales present a very narrow range of $134.40 to $138.01; by multiplying the subject's 2,570 square feet of gross living area, the indicated value of the subject property lies in the range of $345,408 to $354,686.

This is very consistent with the sales, remembering that three of the sales utilized have been adjusted upward for dwelling condition and are consequently inferior, albeit slightly, to the subject property in that regard. The average of the four sales utilized is $135.10/sq ft.

Considering all of this, considering the subject's good to very good overall condition, considering the subject location, or a rear lot, and considering the current market conditions as to supply and demand, and taking as a value $135.00 per square foot of gross living area above grade, to include the land, all of the site improvements, will result in the following value:

Calculating:

2,570 sq ft x $135/sq ft = $346,950

Value (as improved), in total, by Direct Sales Comparison:

$345,000 (As Before) (THREE HUNDRED FORTY-FIVE THOUSAND DOLLARS)

As already reported, the need to estimate fair market value "in the after," to account for the proposed zone change for the property knowns as 674 and 684 Albany Turnpike, from residential R-2 to industrial.



Introduction:

The purpose of this appraisal report is to estimate Market Value impact as a result of the proposed zone change for a large tract identified with the street address of 67 4 and 684 Albany Tpke. (AKA Route 44) and furter identified as Lot 1010674 and 1010684 of Canton Assessor's Map 21.

Specifically, the above captioned proposed zone change property comprises aggregate site size of roughly 39.00 acres currently zoned R-2, or residential 2. As per a zone change application form to the town of Canton Zoning and Planning Commission dated July 2, 2014, the current subject property ownership is requesting a. zone change for 31 acres from the total of approximately 39 acres from residential R-2 to Industrial (I).

As a result, several of the adjoining property owners are very concerned about the resulting negative impact which will result from such zone change, if approved. The proposed zone change property /parcel, has an extensive road frontage along Route 44 AKA Albany Turnpike, and is currently utilized as raw acreage and as agricultural; the net result is a very low, if any, impact on the surrounding residential use(s) as per zoning and as per neighborhood composition.

As part of the zone change request, the property owner reported several consideration which are reported in the following pages, for our purpose.

"The reason for my zone change is to accommodate my strong feelings that there is a significant demand for small uses of development which could be developed in the industrial zone. My feelings were confirmed by recent building opportunities which I will present at the meeting. Per the strategic plan, this zone change and development would promote the health, safety and especially the welfare of the Town. The parcel rates low on the Conservation score of the Conservation Vision and was identified as an opportunity location on the same plan. With proper detention and engineering the development would be healthy and provide a safe environment. "




Further considerations reported are stated as follows:

'"' We are proposing the Zone change from R-2 Zone to I-Zone on our location on Route 44, based on several considerations.

A. We envision excellent potential for small business, industrial, and similar users allowed under the I-Zone on this parcel.

B. The development of residential use on the property would be a tax burden for the Town.

C. The adjacent pacel in the Town of New Hartford is zoned industrial and this zone change would be compatible with the adjacent land in New Hartford.

D. The Canton Strategic Plan endorses the use of this land for economic development. The report on page 36 states that only about fifty (50) acres of undeveloped land is zoned for non-residential use in the entire Town. It further states that managing the business to residential tax proportion would be key to keeping the Town's tax rate competitive, and keeping Canton a desirable place to live.

E. The same Strategic Plan on page 36 identifies this parcel land as a potential "opportunity" location.

F. The same Strategic Plan under the chapter "Future Land Use Plan", page 102 rates the parcel as low on the conservation score and moderate on the development vision.

G. We envision that with the extensive frontage on Route 44 and the visibility, we can make this development into a successful project providing job benefits, increased tax base and economic diversity for the Town of Canton. 11




Thus, our purpose is to evaluate the subject property "as before" and "as after" to estimate what potential damages, or reduction in fair market value the subject of this report will suffer as well as (equally) ten's of similar single family dwellings which are located in the subject neighborhood as well as extended subject's neighborhood.

The property that is the subject of this report consists of a 2,570 square foot, above grade, fairly newer (1984) residential single family contemporary cape style dwelling, as per assessor's office records, on approximately 1.09 acres (47 ,480± sq ft) of land on the northerly side of Buttonwood Hill Road, in the extreme central-west quadrant of Canton, and immediately to the east of the New Hartford Town Line.

It should be further noted here that the subject property is a rear parcel and as such it enjoys a great deal of privacy, as well as a park like setting, since it's situated roughly 290 feet set back from Buttonwood Hill Road.

There is a bonus room over the garage area comprising approximately 528 sq ft of additional living area fitted for use as bedroom and/or flex-use area; hence, total gross living area is 2,570± sq ft. Our report describes the property in detail, and analyzes the property with respect to market value, as defined in our report.

As already reported, the purpose of this report is to estimate the market value of the fee simple interest in the property on an "as is" basis in "the before" and in "the after." The appraisal is self-contained.

Based on the proposed zone change, the following zoning impact will be highlighted, both "in the before" and "in the after".

3 Buttonwood Hill Road. Canton. Hartford Countv. CT





Purposes



Industrial District

The industrial district is intended to allow for the manufacturing production, processing, fabrication, assembly, treatment, repair, or packaging of finished productes, predominantly from previsouly prepared or refined materials (or from raw materials that do not need refining) and for warehousing, wholesaling, and distrubution and for other uses appropriate for the district.




1. Lumber Yards

2. Printing and publishing

3. Research - experimental, analytical, pharmaceutical and commercial laboratories including theoretical research, product engineering and sales development

4. Manufacturing, fabricating, processing, converting, altering, or assembling, and the packaging, warehousing and distribution of machine parts, electrical equipment, electronic equipment, photographic products, optical products, office and business equipment, plastic components and computing equipment

5. Warehousing and storage excluding self-storage units and wholesale storage of propane

6. Professional office

7. Accessory use customary and incidental to any use allowed in the industrial district except that the ZEO may elect to refer an accessory use the Commission upon determing that it may substantially alter the nature of intensity of teh principal use of the site

8. Signs allowed by Section 7 .3

9. Outdoor lighting subject to the provisions of Section 7 .4

10. Off-street parking for up to 25 off street vehicles ·

11. Utility facilities including water supply pump stations, tanks and stand pipes and appurtenant structures

12. Storage of liquid fuel in tanks having a capacity of 2,000 gallons or less provided such storage shall not be located in a required yard setback

13. Donation drop boxes subject to the provisions of Section 3. 3. C.




1. Business Uses

2. Industrial/Infrastructure Facilites

Volume reduction plant and recycling facility to be limted to: Intake of raw materials and clean bulky construction waste such as bituminous products, brush, cardboard, concrete, dirt, gravel, masonry block, metal, quarry rock, sand, stone, topsoil and wood; compacting, crushing, grinding, screening, separating, sorting, washing, or similar processing of raw materials and construction waste; stockpiling or storing or raw materials, construction waste and processed materials; wholesale and retail sales of processed materials which may include truck weighing facilities; and/or shipment of un-recycleable materials to an approved disposal facility.

Licensed medical marijuana producer provided that all cultivation of marijuana plants be conducted in-doors.

Thus, based on all of the above considerations, it's our opinion that if the proposed zone change for the tract, or residential (R-2) zoned acreage of 31 ± acres, there will be a substantial negative effect as to "marketability"; curb appeal with the impact on demand vs. supply to be felt severely by the closest locations to the proposed zone change property. This will cover a radius of 4 to 5 miles all around.

In other words, given the element of choice, the typical home buyer weight the presence of an industrial park within the immediate subject neighborhood under a negative consideration, whereby the competing locations will be able to attract any potential home buyer based on the reality, as well as the perception, that the subject neighborhood will experience and will be negatively affected by the proposed zone change.

As a result, the only way to complete with the superior neighborhoods in terms of curb appeal and homogeinity of use(s), is to make pricing very competive, which ultimately will result in market value diminuition, everything else being equal.

The table of adjustment for the four comparable sales utilized in "the before" highlights all of these considerations, as well as the negative impact, or potential damages resulting from the proposed zone change.



As a result of the proposed zone change, if approved of the property known as 674 and 684 Albany Turnpike, situated along the south side of Route 44, or in the immediate vicinity of the subject neighborhood, the subject property will be severely negatively affected, in our opinion, based on the following considerations.

I 3 Buttonwood fill Road, Canton, CT I Negative impact resulting from the proposed zone change from R-2 (residential) to industrial (I) for a 31.00 acres tract situated at 674-684 Albany Turnpike

Re-configuration of neighborhood with increased trucks traffic

Increased noise due to additional traffic and trucks

Diminution of curb appeal and marketability; moreover, location will be also negatively affected. Potential damages that can occur to the Artisan Well depending on any potential use(s) that will be allowed if the zone change is approved.

As a result, in "The After" the subject is going to be negatively affected by severance, i.e. damages; thus, the need to appraise the subject property "As Before" and "As After"

The subject propety is a single family owner occupied contemporary cape style dwelling (fairly newer, 1984), over full and unfinished basement, on a site of 1.09± acres (47,480± sq ft) zoned R-2, low density residential district.



ADJUStlVIENf ·GR16JAS· AFTER)

I Selling Price Per Square Foot ($)

Property Interest Fee Simple

Financing Conventional or Cash

Conditions of Sale Arm's Length

Market Conditions Typical

Multiplier

Adjusted Sale Price ( $)

Location

Curb Appeal

Marketability

Dwelling GLA

Dwelling Condition-Style & Age

Site Size

Non-Realty Components

Sum of Other Adjustments

Indicated Value of Subject {$)/SF {Rounded)

128.00

1.00

1.00

1.00

1.00

1.0000

128.00

-7%

-10%

-5%

+0%

+0%

+0%

+0%

-22% ($28.16)

99.84


158.88

1.00

1.00

1.00

1.00

1.0000

158.88

-7%

-10%

-5%

+0%

-15%

+0%

+0%

-37% ($58.79)

100.09

153.35

1.00

1.00

1.00

1.00

1.0000

153.35

-7%

-10%

-5%

+0%

-5%

-10%

+0%

-37% ($56.74)

96.61

108.70

1.00

1.00

1.00

1.00

1.0000

108.70

-7%

-10%

-5%

+0%

+10%

+0%

+0%

-12% ($13.04)

95.66

Page 70


Analysis <As After)

After adjustment, the sales indicate a value range of $95.66 to $100.09 per square foot; with intermediate values of $96.61 and $99.84/sq ft of GLA; this is a very narrow range of values and one from which a reasonable per unit value can be extracted, in our opinion. The average sales price is $98.05/sq ft of GLA.

Considering all of this, considering the subject's good to very good overall condition, considering the subject location, curb appeal and impact on marketability, and considering the current market conditions as to supply and demand, and taking as a value $100.00 per square foot of gross living area above grade, to include the land, all of the site improvements, will result in the following value:

Calculating:

2,570 sq ft x $100/sq ft = $257 ,000

Value (as improved), in total, by Direct Sales Comparison:

$255,000 (As After) (TWO HUNDRED FIFrY-FIVE THOUSAND DOLLARS)

Estimate of Market Value (As Before): $345,000 Estimate of Market Value (As After): $255,000

The resulting economic impact, i.e. damages is $90,000, or 26.1 % diminution of value


RECONCILIATION AND FINAL VALUE ESTIMATE

Value Estimate "As Before" by Direct Sales Comparison Approach:

Value Estimate, "as after," by Direct Sales Comparison Approach:

Damages (Diminution in Fair Market Value)

$345,000

$255,000

$90,000

The reconciliation and final value estimate consists of a review of the approach to value, and a discussion of the strengths and weaknesses of this approach. From this discussion and review, a final value estimate for the subject property will be derived.

The four sales utilized are located in the immediate and/ or general subject neighborhood and/or within a similar subject's market area; in addition the four comparable sales have occurred between the period of August 2013 to August 20104 and are considered good to very good comparable sales before and after adjustments.

Consequently. your appraiser believes that the market approach to value. as applied to the land and total property. as it existed at the subject property on August 22. 2014. or "as before." represents the most reliable approach. and indeed. the only realistically feasible approach to value for the property being appraised.

Exposure and Marketing Period The established market value reflects an exposure time of twelve months, reflecting the period prior to the date of value. A marketing period within twelve months is implicit in this analysis, recognizing the time period after the date of value to liquidate the subject property. The exposure time and the marketing period are based on the known marketing time of the sales in the region.


RECONCILIATION AND FINAL VALUE ESTIMATE, continued

Therefore, after having considered all of the factors that influence the value of real property, and based on the information gathered by your appraiser, it is our opinion that the retrospective market value of the subject property, "as before" and "as after," as of August 22, 2014, was:

Total Property Value, As Before:

$345,000 (THREE HUNDRED FORTY-FIVE THOUSAND DOLLARS)

Total Property Value, As After:

$255,000 (TWO HUNDRED FIFTY-FIVE THOUSAND DOLLARS)

Damages (Diminution of Fair Market Value): $90,000 (26.1 % Diminution of Value) (NINETY THOUSAND DOLLARS)

Respectfully,



APPRAISER'S CERTIFICATION

Address of Property Appraised: 3 Buttonwood Hill Road, Canton, Hartford County,

Connecticut

Date of Valuation: August 22, 2014

Estimate of Value (As Before): $345,000 (Before the Proposed Zone Change)

Estimate of Site Value (As After):

Damages

$255,000 (After the Zone Change)

(Diminution in Fair Market Value): $90,000 (26.1% Diminution of Value)

I certify that, to the best of my knowledge and belief·

1. The statements of fact contained in this report are true and correct.

2. The reported analyses, opinions and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, unbiased professional analyses, opinions and conclusions.

3. I have no present or prospective interest in the property that is the subject of this report and I have no personal interest or bias with respect to the parties involved.

4. My compensation is not contingent on an action or event resulting from the analyses, opinions or conclusions in, or the use of, this report.

5. The appraisal assignment was not based on a requested minimum valuation, a specific valuation, or the approval of a loan.

6. My analyses, opinions and conclusions were developed and this report has been prepared in conformity with the requirements of the Code of Professional Ethics and the Standards of Professional Practice of the Appraisal Institute; and the Uniform Standards of Professional Appraisal Practice of the Appraisal Foundation.


APPRAISER'S CERTIFICATION, continued

7. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives.

8. I have made a personal inspection of the property which is the subject of this report.

9. No one provided significant professional assistance to the persons signing this report.

10. This report was prepared in accordance with USPAP Standards Rule 2-2 (b). I have not performed services, as an apprasier or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment.

Sincerely,



ASSUMPTIONS AND LIMITING CONDITIONS

1. The legal description furnished us is assumed to be correct. We assume no responsibility for matters legal in character nor do we render any opinion as to the title, which is assumed to be good. All existing liens and encumbrances have been disregarded and the property is appraised as though free and clear under responsible ownership and competent management.

2. The sketches in this report are included to assist the reader in visualizing the property. We have made no survey of the property and assume no responsibility in connection with such matters.

3. We believe the information furnished us by others to be reliable, but we assume no responsibility for its accuracy. All engineering is assumed to be correct. Any plot plans and illustrative material in this report are included only to assist the reader in visualizing the property.

4. We are not required to give testimony or to appear in court by reason of this appraisal, with reference to the property in question, unless arrangements have been made previously therefor.

5. The distribution of the total valuation in this report between land and improvements applies only under the existing program of utilization. The separate valuations for land and buildings must not be used in conjunction with any other material and are invalid if so used.

6. It is assumed that there are no hidden or unapparent conditions of the property, subsoil or structures that render it more or less valuable. No responsibility is assumed for such conditions or for arranging for engineering studies that may be required to discover them. In our appraisal of the subject property, we have made no test, nor are we qualified to make such test, for environmental factors affecting the subject property. Your appraisers have attempted to determine whether environmental hazards affect the subject property, and have taken the presence of such factors, if known, into account as a part of the evaluation of the property that is the subject of this report.

Specifically, inquiries were made regarding the presence of radon gas, UFFI (ureaformaldehyde foam insulation), or other contaminants or toxic substances in, on, or around the subject property. If the inquiries revealed no unusual environmental factors, then the property has been appraised on the assumption that none are present.

Tests to determine the presence of environmental conditions that may affect the property are recommended.


ASSUMPTIONS AND LIMITING CONDITIONS, continued

Should future or subsequent testing reveal the presence of any condition or substance in the environment that might affect the use and enjoyment of the subject property, then this appraisal report is invalid.

7. This appraisal report is intended as a complete document, to be read and understood in its entirety. No single part of the appraisal report may be taken out of context, or used without full acknowledgement of the remainder of the report. To do so constitutes misuse of this report, and invalidates any conclusions that may result from such misuse.

8. The property is appraised as if free and clear of any and all liens and encumbrances, unless otherwise stated in this report.

9. It is assumed that there is full compliance with all applicable state, federal and local environmental regulations and laws, unless noncompliance is stated, defined and considered in this report.

10. It is assumed that there is full compliance with all applicable zoning and use restrictions and regulations, unless noncompliance is stated, defined and considered in this report.

11. It is assumed that all required licenses, certificates of occupancy, consents or other legislative or administrative authority from any local, state or federal government or private entity or organization have been or can be obtained or renewed for any use on which the value estimate contained in this report is based.

12. It is assumed that the use of the land and improvements is within the boundaries or property lines of the property described, and that there is no trespass or encroachment unless noted in this report.

13. Unless stated otherwise in this report, the subject property is appraised without a specific compliance survey having been conducted to determine whether the property is or is not in compliance with the requirements of the Americans with Disabilities Act(" ADA"). The presence of architectural or communications barriers that are structural in nature may adversely affect the property's value, utility, or marketability.


ASSUMPTIONS AND LIMITING CONDITIONS, continued

14. Possession of this report, or a copy thereof, does not carry with it the right of publication. The report may not be used for any purpose by any person other than the party to whom it is addressed without the written consent of the appraiser; and in any event, only with proper written qualification and only in its entirety.

15. Neither all nor any part of this report (especially any conclusions as to value, the identity of the appraiser, or the firm with which the appraiser is connected) shall be disseminated to the public through advertising, public relations, news sales, or other media without prior written consent and approval of the appraiser.


QUALIFICATIONS OF THE APPRAISER

JOHN LO MONTE, CCRA, GRI, CCIM, GAA

Certified Commercial Real Estate Appraiser Graduate Realtor Institute

Certified Commercial Investment Member General Accredited Appraiser

State Of Connecticut General Certified Real Estate Appraiser. Certificate No. RCG 377

Associate Member, The Appraisal Institute - (No. 17680)

REAL EST ATE EDUCATION

1976

1980

August, 1990

September, 1 990

April, 1991

March, 1991

May, 1991

October, 1991

May, 1992

October, 1992

October, 1995

Real Estate Principals & Practices - University of Hartford

Graduate of the Realtor Institute (G.R.I.) I, II, Ill

SPP Course from the American Institute for Real Estate Appraisers.

Appraisal Course I for Real Estate Broker

Appraisal Course II for Real Estate Appraiser, Manchester Community College

Exam 1 A-1 Real Estate Appraisal Principles and Exam 1 A-2 Basic Valuation Procedures, of the Appraisal Institute

Capitalization Theory and Techniques - Part A, of the Appraisal Institute

Capitalization Theory Techniques - Part B, of the Appraisal Institute

Case Studies in Real Estate Valuation, Course 2-1 of the Appraisal Institute

Report Writing, Course 2-2 of the Appraisal Institute

Standards of Professional Practice (Part A & B); USPAP From the Appraisal Institute; Chicago, Illinois


QUALIFICATIONS OF THE APPRAISER, continued

JOHN LO MONTE, CCRA, GRI, CCIM:, GAA, continued MEMBERSHIP

Broker's License, 1978, License No. 410896

C.C.I.M., Certified Commercial Investment Member, November, 1987, Certificate No. 2998

G.A.A., General Accredited Appraiser, November, 1994, Certificate No. 301

State of Connecticut Licensed Real Estate Appraiser, Certificate No. RCG 377

Associate Member, The Appraisal Institute, (No. 17680)

National Association of Realtors, member since 1976

Connecticut Association of Realtors, member since 1976

Greater Hartford Board of Realtors, member since 1976

Realtors CID Member

Member of the Commercial Real Estate Council Greater Hartford Board of Realtors

Member of the Wethersfield Housing Partnership Committee since 1989

Chairman of the Realtor Political Action Committee, Greater Hartford Board of Realtors for 1988 and 1989

Board of Directors: Connecticut Association of Realtors

1989 and 1990 Conventions Chairman for the CCIM, Connecticut Chapter

Certified Real Estate Appraiser, C.R.E.A., of the National Association of Real Estate Appraisers.

Certified Commercial Real Estate Appraiser, CCRA of the National Association of Real Estate

EXPERIENCE

16 years at Carsan Realty of Hartford, Inc.

General Manager, from 1986 to 1989, of Carsan Realty of Hartford, Inc. In the past 16 years, over 65 million dollars of residential and commercial real estate transacted.

Qualified Expert Witness, State Superior Court, Federal Court


Subject Property Deed Appraiser copy of certificate

ADDENDA

Assessor's Field Card of Subject Property Miscellaneous

YUL 3 b 5 PAGE 0 q f 8

RETURN TO John G. Cottingham Jr. and Corri B. Cottingham 3 Buttonwood Hill Road Canton, CT 06019

WARRANTY DEED (Survivorship) 11 BS CLEAVELAND inc. Bloomfle/cl, Co"m:cticut

(203) 24J.J456 KNOW YE ,THAT I, NANCY R. JOHNSON, oftlie Town of Ca11ton., County of Harlford and State of Connecticut

for the consideration of THREE HUNDRED THOUSAND AND NO/JOO DOLLARS ($JOO,OOO.OO) received to our full satisfaction of JOHN G. COTTINGHAM JR. AND CORRI B. C01TINGHAM, both of 608 Country Meadow Murphy, Texas 75094

do give, grant, bargain, sell and confirm unto the said JOHN G. CO'/TINGHAM JR. AND CORRI B. COTTINGHAM

as joint te11anls with rights of survivorship with WARRANTY COVENANTS

A certain piece or parcel of land with all buildings and improvements thereon situated In the Town of Canton, known as3 Buttonwood Hill Road. being more particularly bounded and described on Schedule A a/lached hereto and made a part hereof.

THE ABOVE PREMISES ARE ALSO CONVEYED SUBJECT TO:

J. Any and all pro'Visions of any ordinance, municipal regulation or public or private law and restrictive covenants, agreements and easements, if any, appearing of records.

2. Taxes due the Town of Canton on the assessment List of October 1, 2008, which the Grantees herein assume a11d agree to pay as part consideration for this deed.

Signed this 2f1" day of February, 2009

Signed and delivered in the presence of:

~;,,._

DARLENE C. ARTER STATE OF CONNECTICUT )

) ss: Simsbury February 26, 2009 COUN1Y OF HARTFORD )

Personally Appeared Nancy R. Johnson Signer(s) of the foregoi11g Instrument, and acknowledged the same to be her free act and deed

DARLENE c. ARTER NOTARY PUBLIC

lftl'lllill,..•M••-""'•A•• ·-·- --- ,

(Page 2 of 2)

YUL 3 b 5 PADE D q I q

SCHEDULE A

A certain piece or parcel of land with all buildings and Improvements thereon, situated in the Town of Canton: County of Litchfield and State of Connecticut, being located on the westerly side of Connecticut Route 44 and to the rear of Buttonwood Hill Road and being shown as Lot No. 1 on a map entitled "Subdivision, Property of Mario Solari, Buttonwood HiU Canton, Connectfcut date: 1I1 7 /79 Scale: 1" = l 00' Sheet No. 1 Strauss Engineering Associates Engineers-Landscape Architects-Surveyors West Hartford, Connecticut Rev. 2/9/79, 2/28/79, 3/21 /79" which map ls on file in the Canton Town Clerk's Office and being more particularly bounded and described as follows:

Northerly:

Easterly:

Southerly:

Westerly:

by land now or formerly of Edward T. Lally, Jr., 298.09 feet;

by Connecticut Route #44, 140.00 feet;

by Lot No. 2, as shown on said map. 266.22 feet; and

by Lot No. 4, as shown on said map, 198.65 feet.

Together with a Declaration of Easement for driveway and utilities as set forth In an Instrument from Diversified Development Corp. dated April l, 1981 and recorded In Volume 115 at Page 136 of the Canton Land Records.

Rl!OElVED 0 RECORD AT QAN'l'ON, OT. ON 3)'1 AT. . J l1 S: f J'\...

ATTEST: LINDA SMlTH, TOWN CLERK

~.r----

card 01 of 01 card Town of Canton Residential Property Card

Property at 00003 BUTTONWOOD HILL Account 1580003 Printed 26-Mar-2014 2:57 AM Design and Layout (Cl Right/Angles

Administrative Information Building Valuation Summary Owner name: COTTINGHAM JR JOHN G &.

l Area

I Second name: COTTINGHAM CORRI B Dwelling Frame l 1/2 story w/bsmt 1,370 210,530 Address: 3 BUTTONWOOD HILL Basement Full City/state: CAN'l'ON CT Zip: 06019 Heating Yes A/C No

~cation Information Plumbing 2 F/B l H/B Add'l fix. Wh/p Saunas 6,000 Clk Map: Attic None Attic size:

Parcel: 1580003 Map: 21 Neigh.: Zone: AR-2 Vol: 365 Page: 918 Additions 29,100 .... sessments -emptions wast sale Other Features WB Stks Unfin 3,500 5,000

Assmt category Qty Amount Exempt Cat Amount Sale date: 04-Mar-2009 Resident Land 1.00 70,000 Sale price: 300,000 Sub-Total 250,630 Resident Excess .09 190 Sale valid: '{ Grade a- Factor l.1700 293,240 Resident Dwellng 1.00 133,430 values CDU C&D Factor 1.00 293,240 Resident OUtbldg 1.00 900 Mkt value : Depreciation 35 t 190,610

Cost value: 292,170 Computed cost value Ill 70\ 133,430 Summa~, ~tilities Sales ratios~

Total assessments 204,520 Water Well Cost/sale : .9739 Building additions Total exemptions sewer septic Mkt/sale :

Net assessment. 204,520 Gas Assmt/sale: .6817 Category Type Area Value G Garages FR Attached frame LE 65 528 17,100

Land Information

Type use Acres/SqFt Rate Total Inf l Fact Value 70t Value p Porches, Patios, Decks FOFF Frame open first flo 30 1,300 PRIM ll 1.000 100,000 .25 100,000 70,000 p Porches, Patios, Decks DECK Wood deck 190 3,600 Primary Site 43,560 L Living Area FRFF Frame first floor 76 6,100 RES 12 .090 3,000 270 190 L Living Area BSMT Basement addition 76 l,000 Residual 3,920

l.090 acres Total land value 100,270 70,190

Residential Dwelling Information ~subject--Code~escription -.ondominiu ... Style 02 Cape Exterior Walls 01 Clapboards Roof Material 01 Asphalt Shingles Story Height 1.5 Roof Type 01 Gable Foundation 01 Poured Concrete Total Rooms 8 Garage cars 2 Total additions 29,100 Interior Walls 02 Drywall Bedrooms 4 Unfinished area Floors 07 Hardwood/Carpeti Family Rooms l Dormer linear f Outbuilding Information Heating System 01 Hot Water Full Baths 2 Masonry trim sf Fuel 01 Oil Half Baths 1 Finish bsmt sz Description Wid Len Area Rate Year Cnd RCN Depr Value Attic 99 None Addtn'l fixtures Rec Room Size RSl Frame 8 16 128 20.00 2012 c 2,560 50 l,280 Grade 37 B· Whirlpools Living area 2,570 Utility Shed Garage 22 Attached 2 car Saunas # Living Units l Area over Gar. 99 None M/F stacks Basement 01 Full W/B stacks l Bsmt. Fin Qual 01 Unfinished W/B openings l Air Condition 99 None Interior Cond OS Good Exterior Cond 05 Good Actual Year Built: 1984 Value at 70% 900 Value at 100\ 1,280

----

Card 01 of 01 card Town of Canton Residential Property card Scale: 1 11 = 7.05 feet

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CITIES AND TOWNS

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Colchnutr ••.•. CS Cornw1ll Bridge 8-2 Ooanbury ••...• [).2 OaNebon •..•• B-6 Oariien ••••••••• E- 1

Oeop River •••• o . .: Derby •.. •... 0 · 2 East Hanford ... 0-4 F11rf10Jd. • . . .. . E·2 GbSIOf"lbury •..• B-4 Gr1nby • • . • A-3 Greenwu::h . , • £- 1 Gro;on •...•••. 0-5 H1mdon .••••. 0-3

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Madison . . • • . 0-4 l.bnc:ho;1or •. , • B-4 Mttiden . . . . • C·J Middletown • • C-4 Milford . 0-3 Moocup.. 8-6 Naugatuck. . . C-2

Ne- 9n1a.n 8-3 New Haven •• • • 0-3 Newington .•.•. 8-4 New London •.. 0-5 New M dfOld ••. C-2

Norlolk . . • • A·2 Norwalk.... . .E-2 NOl'Wlch • • • C-5 Old Saybroolc . • 0-5

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P•WCDlud:. . • . 0-Ci Phoen1•v1lle .. . . A·S Pla.nv1/Jo • • . • . B-3 Porlland .. , , •• C-4 Putn•m ...••.• A-6 R1d~f .. ld ..... D- I Rod:vil!.e •..••• A--4

Shelton . . . .. 0-2 Southington .. .. C·J

SCALE OF MllES 0 5 10 "'15

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C) 1986 R.R. Donntllq 4:. Son.s Compan~-v

S1•rf0fct Spnngs A0 5 W•1t-tbury .•• C· l Scamford ..• .. .. E- 1 We1ho~f1eld 8-4 S1onmg1on ... • 0-G WeST HanfOfd B·l S1om ..••... . U..S West Haven., •• D· J SH•lford ... ... 0-2 Wes1pon: . •• , • E· 2 Terryville ...... 6-3 v~'iUi:nantlt'. .. 85 ThompsonviZle ,, .. Wrncsor ..•• ~-· TomnQlon .... . 8-2 Wmctso1 Loci.s . • A-4 Wallingla«f .... C-3 Winited •• A-l

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STATE OF CONNECTICUT + DEPARTMENT OF CONSUMER PROTECTION Be it known that

GIOVAL~NI LOMONTE PO B0~ ... ~90563

, ~r;' r;'i-i'.:J:?.(k ·- "'~' WETH}~:R~p~~~ 06129

C~'. _. ,;, ... , "" ·r:·<i-;1 ')\ ·~?f 'J . ';--•:.~.- ' : ! I ·\1~ ~ .L.•t .. -~: ~ f'\i'.!· . 1f1 ~· ' \::\

has bet!n certified by the D~irfilig~r:;~f.;.G. ·~difsu6te.:~.t P rotection as a I icensed .;#'"' ~ llJr~ ~~ , ....... \ n; ~~J tJ ·:n

CERTIFIED GENE~~.-WAI~.ESTATE APPRAISER "':;:==' --~ ~?-<i . ~-.,,,::r· .;~~-"· =7

~~.~iilt~~fdo171 .. RANSr1 ... :~ :~ ~-- Vf.t.,-

John Lo Monte, 3Buttonwood Hill Canton

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