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HomeMy WebLinkAboutPR 20427: A RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE AN EASEMENT FOR THE INSTALLATION OF A MONUMENT SIGN _ , 4 City of ort rthu�_ Texas www.PortArthurTX.gov INTEROFFICE MEMORANDUM Date: October 25, 2018 To: The Honorable Mayor and City Council Through: Harvey L. Robinson, Interim City Manager From: Armando Gutierrez, Jr., P.E., Director of Public Works RE: P.R. NO. 20427—A Resolution authorizing the City Manager to execute an easement for the installation of a monument sign. Introduction: It is being requested that City Council approve P.R. NO. 20427, authorizing the City Manager to execute an easement with Port Plaza Hotel, LLC, for the installation of a monument sign for Home 2 Suites Hotel, on approximately 74 SF of Land out of a 2.256-Acre Parent Tract, located on the southwest corner of Port Plaza Drive and Home Two P1a7a, Port Arthur, Jefferson County, Texas. Background: In November 2017, Mr. Anthony Patel, President of Port Plaza Hotel, LLC, requested an easement from the City of Port Arthur for the installation of a monument sign for Home 2 Suite Hotel. Budget Impact: A professional appraisal of the property has been performed to determine Fair Market Value (FMV). Mr. Anthony Patel of Home 2 Suites has agreed to pay the City of Port Arthur $555.00 for the conveyance of said easement. Recommendation: It is being recommended that City Council approve P.R. NO. 20427, authorizing the City Manager to execute an easement with Port Plaza Hotel, LLC, for the installation of a monument sign for Home 2 Suites Hotel, on approximately 74 SF of Land out of a 2.256-Acre Parent Tract, located on the southwest corner of Port Plaza Drive and Home Two Plaza, Port Arthur, Jefferson County, Texas. "Remember,we are here to serve the Citizens of Port Arthur" P.O. Box 1089 • Port Arthur,Texas 77641-1089• (409)983-8135 • (409)983-8137 P.R.NO.20427 10/25/2018 pdl RESOLUTION NO. A RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE AN EASEMENT WITH PORT PLAZA HOTEL, LLC FOR THE INSTALLATION OF A MONUMENT SIGN ON APPROXIMATELY 74 SF OF LAND OUT OF A 2.256-ACRE TRACT OF LAND, CITY OF PORT ARTHUR, JEFFERSON COUNTY, TEXAS WHEREAS, Port Plaza Hotel, LLC has requested an easement for approximately 74 SF of Land out of a 2.256-Acre Tract of Land, Port Arthur, Jefferson County, Texas; and, WHEREAS, Port Plaza Hotel, LLC must obtain an easement to install a monument sign for Home 2 Suites Hotel thereof on City property; and, WHEREAS, a professional appraisal of the property has been performed to determine Fair Market Value in accordance with Section 272.001(b) of the Texas Local Government Code; and, WHEREAS,Port Plaza Hotel, LLC has agreed to pay the City $555.00; and, WHEREAS,the City Council hereby approves an easement Exhibit"B" between the City of Port Arthur and Port Plaza Hotel, LLC, in substantially the same form as attached hereto as Exhibit"A". NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PORT ARTHUR: Section 1. That the facts and opinions in the preamble are true and correct. Section 2. That the City Manager is herein authorized to execute the easement between the City of Port Arthur and Port Plaza Hotel, LLC, in substantially the same form as attached as Exhibit"A''. P.R.NO.20427 10/25/2018 pdl Section 3. That this Easement is contingent upon receipt of payment from Port Plaza Hotel, LLC, in the amount of$555.00; and, Section 4. That a copy of the caption of this Resolution be spread upon the Minutes of the City Council. READ, ADOPTED AND APPROVED on this day of November, A.D., 2018, at a Regular Meeting of the City Council of the City of Port Arthur, by the following vote: AYES: Mayor: Councilmembers: NOES: Derrick F. Freeman. Mayor ATTEST: Sherri Bellard, TRMC, City Secretary APPROVED AS TO FORM: Aypi Valecia"Val" eno, City Attorney APPROVED FOR ADMINISTRATION: Harvey L. Robinson, Interim City Manager Armando Gutierrez, P.E., Director of Public Works Appraisal of: Proposed 74 SF Home 2 Suites Sign Easement Port Plaza Drive @ Home Two Plaza Port Arthur, Texas Prepared For: CITY OF PORT ARTHUR PUBLIC WORKS DEPARTMENT Ms. Aleska Washington Engineering Secretary 444 4th Street, 3`d Floor Port Arthur, TX 77640 As Of: September 13, 2018 By: COOK & ASSOCIATES, INC. Mr. W. Burnell Cook, MAI, SRA 2640 McFaddin Beaumont, Texas 77702 COOK & ASSOCIATES, INC. COOK & ASSOCIATES, INC. Real Estate Appraisers 2640 McFaddin • Beaumont,Texas 77702 (409)835-1430 • Fax(409)835-7314 • Tax ID #76 0325476 W. Burnell Cook, MAI, SRA, CPA cookappr@gmail.com Stephen F. Peyton appraisals@cookandassociatesinc.com September 20, 2018 Ms. Aleska Washington Engineering Secretary Public Works Department City of Port Arthur 444 4th Street, 3rd Floor Port Arthur, TX 77640 RE Appraisal of a proposed 74 SF Home 2 Suites sign easement, out of a 2.256 Acre parent tract, on Port Plaza Drive at Home Two Plaza, Port Arthur, Jefferson County, Texas Dear Ms. Washington: In compliance with your request, I have personally inspected and analyzed the above cap- tioned property for the purpose of developing an opinion of the Market Value in Fee Sim- ple Interest. Market Value of the parent tract will then be used as the basis of my estimate of"Just Compensation" for the proposed easement in fee simple interest. As a result of my investigation and analysis, my opinion of "Just Compensation" for the proposed easement, as of September 13, 2018, is: FIVE HUNDRED FIFTY-FIVE ($555.00) DOLLARS This transmittal letter is followed by the certification of the appraisal and the APPRAISAL REPORT containing pages further describing the subject property and containing the rea- soning and pertinent data leading to the developed value opinion. Your attention is di- rected to the Extraordinary Assumptions and Hypothetical Conditions on Page Two and the "General Underlying Assumptions" and "Limiting Conditions" which are considered usual for this type of assignment and have been included in the Addenda of the report. Respectfully submitted, COOK &ASSOCIATES W. Burnell Cook, MAI, SRA Texas State Certified TX 1320838 - G WBC:jpc Attachments CERTIFICATION I certify that, to the best of my knowledge and belief: the statements of fact contained in this report are true and correct. the reported analyses, opinions and conclusions are limited only by the reported assump- tions and limiting conditions, and are my personal, impartial and unbiased professional analyses, opinions and conclusions. I have no present or prospective interest in the property that is the subject of this report, and no personal interest with respect to the parties involved. I have not performed an appraisal of the subject property within the three years prior to this assignment. I have no bias with respect to the property that is the subject of this report or to the par- ties involved with this assignment. my engagement on this assignment was not contingent upon developing or reporting predetermined results. my compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occur- rence of a subsequent event directly related to the intended use of this appraisal. I, W. Burnell Cook have made a personal inspection of the property that is the subject of this report. no one provided significant real property appraisal assistance to the person or persons signing this certification. the reported analyses, opinions and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute, which include the Uniform Standards of Professional Appraisal Practice. the use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. as of the date of this report, I have completed the requirements under the continuing ed- ucation program of the Appraisal Institute. the appraisal assignment was not based on a requested minimum valuation, a specific valuation or the approval of a loan. Gtr e0>;- q7 o/20(g W. Bumell Cook, MAI, SRA Date Texas State Certified General TX 1320838-G COOK & ASSOCIATES, INC. TABLE OF CONTENTS Sign Easement (74 SF) Port Plaza Drive At Home Two Plaza Port Arthur, Jefferson County, Texas Introduction Letter of Transmittal Certification Summary of Salient Facts and Conclusions 4 General Information Intended Use/User 5 Extraordinary Assumptions 5 Client/Scope of Work 5 Subject Identification 5 Value Definitions 7 Exposure Time 7 Effective Date 8 Legal Description 8 Area/Property Analyses Area Analysis 8 Neighborhood Analysis 10 Property Description 12 Highest and Best Use 14 Valuation Analysis Sales Comparison Analysis 15 Reconciliation 23 Concluded Value 24 Estimate of Just Compensation 24 Addenda Subject Photos 25 Maps and Plats Surveys/Metes and Bounds JCAD Research Drainage Easement/Map Metes and Bounds General Limiting Conditions Qualifications and License Engagement Letter COOK & ASSOCIATES, INC. 4 SUMMARY OF SALIENT FACTS AND CONCLUSIONS 1. Appraisal Type/Scope: Sales Comparison Approach 2. Report Format: Narrative 3. Property Type: Vacant Land 4. Location: Port Plaza Drive at Home Two Plaza, Port Arthur, Jefferson County, Texas 5. Owner City of Port Arthur 6. Site: Sign easement containing 74 SF out of a 2.256 Acre* (98,271 SF) parent tract 7. Improvements None 8. Zoning: PD 20 9. Highest and Best Use As Vacant: Commercial As Improved: N/A 10. Value Indication: Sales Comparison Approach: $737,033 (Parent Tract at $7.50/SF) 11. Date of Inspection: September 13, 2018 12. Date of Value Estimate: September 13, 2018 13. Date of Report: September 20, 2018 14. Property Rights Appraised: Fee Simple 15. Final Opinion of Value: $737,033 (Parent Tract at $7.50/SF) 16. Just Compensation $555 (74 SF @ $7.50) *Parent tract size is based on Jefferson County Appraisal District property account descriptions. COOK & ASSOCIATES, INC. 5 APPRAISAL REPORT CLIENT: Ms. Aleska Washington Engineering Secretary Public Works Department City of Port Arthur 444 4th Street, 3rd Floor Port Arthur, TX 77640 APPRAISER: W. Burnell Cook, MAI, SRA Cook & Associates, Inc. 2640 McFaddin Beaumont, Texas 77702 SUBJECT: Proposed sign easement out of a 2.256 Acre parent tract, on Port Plaza Drive at Home Two Plaza, Port Arthur, Texas INTENDED USE OF REPORT: For the sole purpose of assisting the client in evaluating the subject property for sign easement compensation. This report is intended for use by the City of Port Arthur. Other uses or users are not intended by the appraiser. EXTRAORDINARY ASSUMPTIONS AND HYPOTHETICAL CONDITIONS: The pro- posed easement to be granted is for construction and maintenance of a monument sign. Any damage to the subject remainder is assumed to be repaired. The use of these assumptions and conditions might have affected the assignment results. SCOPE OF WORK AND REPORTING PROCESS: This is an Appraisal Report which is intended to comply with the reporting requirements set forth under Rule 2 of the Uniform Standards of Professional Appraisal Practice for an Appraisal Report. As such, it presents relevant discussions of the data reasoning and analysis that were used in the appraisal process to develop the appraiser's opinion of value. Supporting documentation concern- ing the data, reasoning and analysis is retained in the appraiser's file. The depth of dis- cussion contained in this report is specific to the needs of the client and for the intended use stated above. The appraiser is not responsible for unauthorized use of this report. Furthermore, in accordance with prior agreement between the client and the appraiser, this report is the result of an appraisal process utilizing the Sales Comparison Approach only, being the primary approach to value. Subject property identification: Identification of the subject property was provided by the client in the form of a survey and legal description of the proposed easement, as well as owner contact information. Subject property observation and physical data collection: The appraiser visited the subject property on September 13, 2018. All photographs of the subject easement and parent tract were taken on this date. COOK & ASSOCIATES, INC. 6 Data collection and research: The subject property data such as size, physical features, location, quality and zoning are considered and presented in this report. Market data, in- cluding comparable vacant land sales and supply and demand are among the items re- searched and analyzed. The data is used to estimate the highest and best use of the sub- ject property and its market value. Extent of analysis: The documentation necessary to arrive at the opinion of value is considered in this appraisal report. The market data has been collected, confirmed and analyzed. Comparable sales were chosen for their similar highest and best uses as out- lined within the report. All sales were analyzed and compared to the subject property based on their similarities and dissimilarities. The applicable approaches were considered and reconciled in developing a final opinion of market value. Disclosures: Texas is a non-disclosure state in regards to details of sales transactions. Thus, our knowledge of sales data is not all-inclusive. Our data sources include Beau- mont, Mid-County and Orange County Multiple Listing Service, LoopNet and local real es- tate brokers. Terminology and definitions utilized are in accordance with banking regula- tions and the Dictionary of Real Estate Appraisal, Fifth Edition, (copyright 2010) by the Appraisal Institute, or most recent revision. . This appraisal is intended to comply with the requirements of the Appraisal Institute as well as the current Uniform Standards of Profes- sional Appraisal Practice. COMPETENCY STATEMENT: Both USPAP and FIRREA minimum appraisal standards require that an appraiser have the knowledge and experience to complete an assignment competently. Additionally, FIRREA requires a competency statement. W. Burnell Cook, MAI, SRA has 33 years of commercial property appraisal experience. The appraiser has appraised properties similar to the subject in the Southeast Texas marketing area. This practical experience coupled with classroom training through the Appraisal Institute and other organizations complies with the Competency requirements of USPAP. The apprais- er is a state certified general real estate appraiser. A complete qualifications statement and a copy of the certification for the appraiser are included in the Addenda. ENVIRONMENTAL DISCLAIMER: The appraiser is not an expert in determining the presence or absence of hazardous substances, defined as all hazardous or toxic materi- als, waste, pollutants or contaminants, including but not limited to asbestos, PCB, UFFI, or other raw materials or chemicals used in construction or otherwise present on the proper- ty. The appraiser assumes no responsibility for studies or analyses which would be re- quired to conclude the presence or absences of such substances or loss as a result of the presence of such substances. The client is urged to retain an expert in this field, if de- sired. However, the personal surface site inspection by the appraiser did not otherwise indicate the presence of hazardous materials or contaminants. Therefore, the value opinion herein is based on the assumption that the subject conforms to applicable environmental regulations and is subject to that condition. PURPOSE OF THE APPRAISAL: To estimate market value as referenced in Section 12, C.F.R. Part 34. COOK & ASSOCIATES, INC. 7 Market Value as reported herein, is defined as: 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 pass- ing of title from seller to buyer under conditions whereby: 1. buyer and seller are typically motivated; 2. both parties are well informed or well advised, and acting in what they con- sider their own best interests; 3. a reasonable time is allowed for exposure in the open market; 4. payment is made in terms of cash in U.S. dollars or in terms of financial ar- rangements comparable thereto; and 5. the price represents the normal consideration for the property sold unaffect- ed by special or creative financing or sales concessions granted by anyone associated with the sale. JUST COMPENSATION: In condemnation, the amount of loss for which a property owner is compensated when his or her property is taken. Just Compensation should put the owner in as good a position as he or she would be if the property had not been taken. Source: "The Dictionary of Real Estate Appraisal, 5th Edition", Page 106, published by the Appraisal Institute. The Appraiser has considered access damages in accordance with Section 21.042(d) of the Texas Property Code, as amended by SB 18 of the Texas 82"d Regular Legislative Session and finds as follows: 1. Is there a denial of direct access on this parcel? No 2. If so, is the denial of direct access material? No 3. The lack of access denial or the material impairment of direct access on or off the remaining property affects the market value of the remaining property in the sum of"$0.00." If applicable, this sum is included in the above esti- mate of Just Compensation. INTEREST VALUED: Fee Simple Interest, as defined in Real Estate Terminology, is: An absolute fee; a fee without limitations to any particular class of heirs or restrictions, but subject to the limitations of eminent domain, escheat, police power, and taxation. An in- heritable estate. (Note: Value estimates herein are for surface interests only.) SALES HISTORY: The subject property is currently owned by the City of Port Arthur and has not changed ownership in an open market transaction within the past three years. ESTIMATED EXPOSURE TIME: The exposure time estimate provided precedes the ef- fective date of this report. In estimating an exposure time for the subject property the ap- praiser has considered some or all of the following: COOK & ASSOCIATES, INC. 8 • Current supply and demand factors • Current cost information • Analysis of historical sales information • Analysis of future income expectancy In the case of the subject property, an exposure time of 12 months is thought reasonable. ESTIMATE OF MARKETING TIME: The marketing time estimate is subsequent to the effective date of appraisal. Similar factors to those analyzed for exposure time are con- sidered. In the case of the subject property, a marketing time of 12 months is thought reasonable, assuming an active marketing effort consistent with the opinion of value de- veloped herein. EFFECTIVE DATE OF VALUE: September 13, 2018 DATE OF INSPECTION: September 13, 2018 PROPERTY TAXES: The subject parent tract is tax exempt. Assessed value for the easement to be granted has not been determined. (See appraisal district and tax account information in the Addenda.) DESCRIPTION OF REAL ESTATE APPRAISED: LEGAL DESCRIPTION: The subject parent tract is legally described as part of Lot 5, Block 12, Range J, Port Arthur Land Company Subdivision, Port Arthur, Jefferson County, Texas. It is located at the northeast corner of Medical Center Drive and Port Plaza Drive. AREA ANALYSIS: The subject area is known as the "Sabine-Neches Industrial area" or the "Triplex" and is comprised of Hardin, Jefferson and Orange Counties in Southeast Texas. The three major cities are Beaumont, Port Arthur and Orange. The cities are virtu- ally contiguous as result of continuous development along their connecting highways. Beaumont, the largest city and county seat of Jefferson County, has a population of 118,296. The population of the three county area is 388,745 per the 2010 census, up on- ly 3,655 or .95% since 2000. Area city services, public utilities, schools and health facilities are considered to be good. The area climate is favorable with warm summers and mild winters. Area transportation resources include railroads, some deep water ports located in Port Ar- thur, Beaumont and Orange, four airports as well as good highway access. Jefferson County Airport, located adjacent to and west of Nederland, provides daily connector flights to Houston. Medical facilities, located in Beaumont, Port Arthur, Groves, Nederland and Orange include eight major hospitals as well as a variety of facilities providing specialized and emergency care services. COOK & ASSOCIATES, INC. 9 Major industries include shipping, petroleum and agriculture. In the early 1990's major federal, state and local prison complexes between Beaumont and Port Arthur in Mid- County were established. The area economy is primarily based on petrochemical refining and production related industries and has been since the Spindletop Oil discovery in 1901. A number of major petrochemical plants are located in this portion of the upper Texas Gulf Coast, typically along the Neches River and Sabine River in south Jefferson County and south Orange County. Many individuals from the three county area find employment in these area petrochemical complexes. Major plants located in the area include Motiva, Valero, DuPont, Total, Huntsman, Chevron, Mobil-Exxon and Goodyear. Economic conditions have been fairly stable in recent years, as area industrial plants have continued to expand. However, unemployment for the Beaumont/Port Arthur MSA is at 6.4% (June, 2018). Unemployment for the State of Texas is 4.0%, down .2% for the past year. Local MSA employment is 163,400, down .3% for the past year. The economic forecast for the Golden Triangle area, including Beaumont, Port Arthur and Orange, remains relatively positive as renovations, additions and upgrades to existing oil, gas and petroleum facilities, primarily in mid and south Jefferson County continue. The national economic downturn in late 2008 and 2009 and decline in oil prices caused some concern, with some projects being delayed, cancelled or put on hold. However, the Total, Motiva and the Valero expansions remained on track and are now complete. The five year, 10 billion dollar Motiva expansion was the largest single expansion in the United States in four decades. Cheniere Energy recently completed a 10 billion dollar LNG export facility adjacent to their new Sabine Pass gas import terminal in Cameron Parish, LA (just east of Sabine Pass, TX), now in operation. Golden Pass Products has also announced authorization from the U.S. Department of Energy to export LNG. Construction of LNG processing and export facilities at the recently constructed Golden Pass LNG facility will cost approximately 10 billion dollars. Sempra has announced plans for a 6 billion dollar LNG export facility near Hackberry, LA but has not received federal approval. These combined projects are ex- pected to generate over 10,000 construction jobs over five years, with peak construction employment reaching 3,000 at each site. The Jefferson Energy Terminal, owned by JCP Energy Partners in Orange County on the Neches River across from the Port of Beaumont, was recently completed at a cost of± $50 million. The state of the art facility is now operating and shipping its first shipments of ethanol internationally. The Gulf Coast Project section of the controversial Keystone Pipeline project has recently been completed extending 487 miles from Cushing, OK to Nederland Texas. The pipeline project is planned to ultimately extend from Canada transporting crude oil to Texas Gulf Coast refineries. Huntsman Corporation recently completed a new 150 million dollar eth- ylene unit at its Port Neches plant. In early June, 2015, Total Petrochemical announced a $1.6 billion dollar plant expansion in Port Arthur, with projected completion by 2019. In November, 2013, Natgasoline LLC, a subsidiary of Orascom Construction Industries (OCI) announced a 1.9 billion dollar methanol plant project to be located on 514 acres on SH 347 just south of Beaumont, which broke ground in March, 2014. The plant, to be completed in 2018, will be the nation's largest methanol plant. COOK & ASSOCIATES, INC. 10 Exxon-Mobil recently launched a $1.2 billion expansion of their plant on US 90, just west of Beaumont. Construction is projected to be completed in 2019. Peak construction em- ployment is projected to reach 1,400. Construction of a 1.7 billion dollar ethylene produc- tion unit at the Total plant site in Port Arthur is underway with production projected to begin in 2020. A 748 million dollar project to deepen and widen the Sabine Neches Ship Channel, as part of the Water Resources Reform and Development Act of 2013, was signed into law by President Obama; however, funding remains a challenge. This project, in conjunction with completion of the Panama Canal expansion, completed in 2016, is expected to have a significant positive economic impact on Texas Gulf Coast ports and the Beaumont-Port Arthur MSA in general. Currently, $169.2 million in capital improvement is planned by the Port of Beaumont, to be funded in part by $85 million in bonds, with voter approval ob- tained November 7, 2017. Also, a $109 million expansion by DOW Chemical on SH 347 south of Beaumont is being planned, as reported by local media (KFDM) on November 27, 2017. Tropical storm Harvey struck the area on August 30, 2017, with record rainfall and wide- spread flooding. Recovery is underway, and for the most part, with no long term adverse effect anticipated. However, timing and extent of recovery for those primarily residential areas along the various rivers, bayous and waterways, which were devastated by exten- sive flooding from the rising water from the nearby waterways, remains uncertain. Prices paid for real estate in general remain relatively stable to slightly increasing. Brokers are cautiously optimistic with some increases in market activity from petrochemical expan- sion anticipated over the next twelve months. An area map is included in the Addenda. NEIGHBORHOOD ANALYSIS: The objective of a Neighborhood Analysis is to de- scribe and analyze observable and/or quantifiable data that indicates discernible patterns of urban growth, structure and changes that detract from or enhance property values. A neighborhood is a portion of a larger community in which there is a homogeneous grouping of inhabitants, buildings or business enterprises. Neighborhood boundaries may consist of well-defined natural or man-made barriers, or they may be, more or less, well- defined by a distinct change in land values or in the character of the inhabitants. The subject neighborhood is best defined as those properties fronting both sides of FM 365 between Medical Center Drive on the west and Twin City Highway (State Highway 347) on the east; as well as those properties fronting both sides of U.S. Highway 69/96/287 from FM 365 southward to Jimmy Johnson Boulevard, inclusive of the Central Mall area and Medical Center of Southeast Texas area. This area constitutes a well- defined commercial area including a regional shopping mall. The northern portion of the neighborhood is located in the City of Nederland, whereas, the southern portion is located in the City of Port Arthur with FM 365 generally being the dividing line. COOK & ASSOCIATES, INC. 11 U.S. Highway 69/96/287 and Twin City Highway(State Highway 347) are primary north/south traffic arteries connecting the cities in South and Mid Jefferson County with Beaumont, the County Seat, located to the north. U.S. Highway 69/96/287 intersects IH-10 in southwest Beaumont. FM 365 intersects with IH-10 approximately 17.7 miles to the west of Port Arthur. U.S. Highway 69/96/287 is a divided four-lane asphalt paved highway with concrete curbs and gutters. FM 365, within the subject neighborhood, is an asphalt paved four-lane highway with a center turning lane. Twin City Highway is a divided four-lane asphalt paved highway with open ditch drainage. These major arteries provide the neighborhood with excellent access to all areas of Jefferson County including the cities of Beaumont, Port Arthur, Groves, Nederland and Port Neches. Ninth Avenue is a primary interior north/south traffic artery which provides the Port Arthur area direct access to the subject neighborhood and Central Mall. Ninth Avenue originates at Proctor Street and extends northward to FM 365. The portion of Ninth Avenue from Highway 73 to FM 365 is a four-lane concrete paved street with concrete curbs and gut- ters. To the north of FM 365 within the City of Nederland, this traffic artery becomes 27th Street. It too, is a four-lane concrete curb and guttered street to Helena Avenue which provides the Nederland area direct access to the neighborhood. The neighborhood has experienced extensive commercial development and has become a major retail and shopping center for the area. This development has been most active along FM 365 and U.S. Highway 69/96/287 centered around the Central Mall Shopping Center, a regional shopping mall. Development in this area began in the early 1970's. During the 1980s, residential and commercial construction continued at a considerably slower pace. However, from 2000 to 2008 a substantial amount of new commercial de- velopment was completed. Development continues in the neighborhood, but at a some- what slower pace. As noted, historical development within the neighborhood has been primarily commercial in nature. A few pad sites remain available within the Central Mall complex and immedi- ately south of the mall along Central Mali Drive. Limited supplies of vacant sites along FM 365 have resulted in new commercial development along the Highway 69/96/287 corridor within the past ten years, including the intersection of Highway 69/96/287 and FM 365. This development includes the Wal-Mart Super Center, a Lowes Home Center, HEB gro- cery store and adjacent strip shopping center, the Medical Center of Southeast Texas Hospital Complex and adjacent professional office facility, Allen Samuels Chrysler Jeep auto dealership, seven motels, multiple strip shopping centers and restaurants. Addition- ally, Ritter Lumber Company relocated to the old Wal-Mart facility on FM 365 and renovat- ed and adapted it for their use. Recently completed construction is a new Raising Cane's restaurant facility on FM 365, a new motel on U.S. Highway 69/96/287 south of FM 365, a new branch bank on Central Mall Drive and a medical office/clinic on FM 365. A new res- taurant has been built on US Highway 69/96/287, north of Jimmy Johnson Boulevard. A new motel is under construction, just off Port Plaza Drive, east of Medical Center Drive. The area is in a hurricane flood plain area, protected partially by the seawall which was completed in 1981 by the U.S. Corps of Engineers. The seawall protects the area against wave actions generated by a hurricane. The hurricane levee was thoroughly tested during Hurricane Ike and wellprotected the area from storm surge flood damage. COOK & ASSOCIATES, INC. 12 Local ordinances require that new construction be at least four feet, or above the maxi- mum ponding level for a standard project flood. This action, along with the construction of numerous drainage canals and other precautions, has made the area eligible for flood in- surance. Since completion of the Flood Protection Project, the area, for the most part, has been adequately drained. However, record rainfall associated with Tropical Storm Harvey in late August 2017 did cause sporadic flooding. Electricity, telephone and natural gas services are provided by privately owned corpora- tions and serve the entire neighborhood. The City of Nederland provides sewer and water service to properties along the north side of FM 365. Water and sewer service along the south side of FM 365 and both sides of U.S. Highway 69/96/287 is provided by the City of Port Arthur. The services provided by both cities are considered to be adequate. Zoning classifications throughout the neighborhood are fairly uniform and provide for commercial development. The City Council of the City of Port Arthur has classified the portion of the subject neighborhood west of 9th Avenue and south of FM 365 as a Planned Development District. Within this classification are permitted a multitude of various uses, ranging from single family dwellings to industrial parks or districts. Prior to obtaining a building permit, a comprehensive site plan of the proposed development must be present- ed and approved by the Planning and Zoning Commission. The portion of the neighbor- hood located within the City of Nederland is zoned commercial. In conclusion, the neighborhood has those attributes that are necessary for continued growth. It is central to a substantial economic base and is readily accessible from all are- as. It has the utilities necessary for development and has generally been professionally planned. Its drainage has been enhanced by the hurricane protection system. New de- velopment continues and the neighborhood is expected to maintain its present character and continue development as one of the area's major commercial areas. Land values have been increasing in recent years, as useable sites are becoming shorter in supply. A neighborhood map is provided in the Addenda. PROPERTY DESCRIPTION: Location/ Access: The subject parent tract is located at the northeast corner of Medical Center Boulevard (aka Professional Drive) and Port Plaza Drive. Medical Center Boulevard is a divided, four-lane artery extending from 75th Street to FM 365, providing access to the Medical Center of Southeast Texas and surrounding area. Port Plaza Drive is a two- lane street, connecting Medical Center Boulevard (in proximity to the Medical Center of Southeast Texas)to US 69/96/287 (Memorial Boulevard). Tract Size: 2.256 Acres or 98,271 SF of which 74 SF is proposed sign easement Configuration: General rectangular with ± 78 feet frontage on Medical Center Boule- vard and ± 278 feet on Port Plaza Drive. COOK & ASSOCIATES, INC. 13 Topography/ Elevation: The parent tract is generally level and cleared. Elevation is approxi- mately 0 to 5 feet above mean sea level. Flood Zone: The tract falls in FEMA designated Flood Zone AH, within the 100 year flood plain. Zoning: The parent tract appears to fall in an area zoned PD-20 (Planned De- velopment). Commercial development consistent with neighboring tract is assumed to be allowed. Utilities: All available Existing Improvements: None, except for the monument sign recently constructed on the pro- posed sign easement analyzed herein. Surrounding Uses: Across Medical Center Boulevard to the southwest is a large hospi- tal/medical center facility. Adjacent to the northeast are two motels, one recently completed and one under construction. Other immedi- ately surrounding tracts are vacant. Easements/ Encumbrances: Standard utility easements were noted. A ± 60 foot wide multi pipe- line corridor crosses the northeast portion of the tract. Several pipe- lines are located along and parallel to the subject west line, encum- bering ± 75 feet. Additionally, Home Two Plaza Drive encumbers ± .24 Acres at the southeast corner of the tract. The proposed sign easement will encumber 74 SF on the north side of Port Plaza Drive and west side of Home Two Plaza Drive, which provides access to the related motel adjacent to the east. The characteristics of the subject tract generally conform to those of surrounding proper- ties and those discussed in the Neighborhood Analysis are considered applicable. The subject is of sufficient size and utility for a variety of Commercial uses, such as are typical of the immediate area. The subject is presently vacant. Presented in the Addenda are an Aerial Photo, Topographical Map, Flood Plain Map, Plat Map, several Surveys and a legal description of the proposed sign easement. COOK& ASSOCIATES, INC. 14 HIGHEST AND BEST USE: Highest and Best Use "As Vacant": (Parent Tract) —The subject is a corner tract, generally rectangular and containing 2.256 Acres. It is located in immediate proximity to a major hospital and two motels, with convenient access but secondary exposure. The site is encumbered by pipelines and a road ROW, but is thought adequate in size and utility for a variety of commercial uses consistent with surrounding development. Commercial de- velopment is legally permissible (commercial uses consistent with surrounding develop- ment are assumed). Financial feasibility is suggested by existing and new commercial de- velopment. Thus, the Highest and Best Use "As Vacant," is considered to be Commercial. COOK & ASSOCIATES, INC. 15 SUMMARY OF SALES COMPARISON ANALYSIS: This is an appraisal technique in which the Market Value estimate is based on prices paid in actual market transactions. The approach involves gathering data of sales of comparable properties and analyzing the nature and condition of each sale, comparing with the subject property, making logical ad- justments for characteristics dissimilar to the subject property. The direct sales compari- son approach is based upon the principle of substitution and is a good indicator of value when sales of highly similar properties are available. The principle of substitution is de- fined in The Dictionary of Real Estate Appraisal, p. 296 as "The appraisal principle that states that when several similar or commensurate commodities, goods or services are available, the one with the lowest price will attract the greatest demand and widest distri- bution." The reliability of this approach is dependent upon the following factors: • The degree of similarity of the comparable property to the property being appraised as to location, size, and utility. • The time of the sale. • The verification of the market data. • The absence of unusual conditions affecting the sales price. The appraiser has made a diligent search of available sources in an attempt to obtain data on the sales of similar vacant properties. Also contacted were several area real estate brokers. The Sales Comparison Approach is applied in the study of prices paid for com- parable tract to indicate the price at which the subject tract should sell after adjustments are applied for the factors that tend to affect price, i.e., sale date, tract size, locational quality, etc. The "market" for similar properties has been active in recent years, thereby providing sales data from which a comparative analysis can be made for a value indica- tion. Presented on the following pages is the data on the sales which were deemed most com- parable and provided the most reliable indicators of value as well as a map showing the location of each sale in relation to the subject, followed by a Sales Summary. The square foot unit has been used in the analysis as the market tends to quote vacant commercial land prices in this unit. The Market Adjustment Chart, showing the pertinent data on each sale and the adjustments follows the Sales Summary. After the adjustment chart is a brief explanation of the adjustments and the concluded value estimate for the subject parent tract. The estimate of Just Compensation, based on the concluded unit value estimate for the subject parent tract, is presented subsequently. COOK & ASSOCIATES, INC. 16 Land Sale No. 1 Property Identification Record ID 78 Property Type Commercial Vacant Land Address Medical Center Boulevard, Port Arthur, Jefferson County, Texas Location Northwest of Jimmy Johnson Boulevard Legal Desc. Part of Lots 4 and 5, Block 12, Range J,PALCO Sale Data Grantor PA 69 LP Grantee Risinger Holdings, LLC Sale Date January 04, 2011 Deed Book/Page 2011000378 Financing Cash Verification Dr_ Risinger, grantee Sale Price $304,920 Cash Equivalent $304,920 Land Data Zoning PD 20 Utilities All utilities Flood Info Flood Zone AH Land Size Information Gross Land Size 1.000 Acres or 43,560 SF Indicators Sale Price/Gross Acre $304,920 Sale Price/Gross SF $7.00 Remarks Tract is located across Medical Center Boulevard from the Medical Center of Southeast Texas Hospital complex. Two adjacent 20 foot utility easements and a 30 foot pipeline easement encumbers the subject frontage to a depth of 70 feet. COOK & ASSOCIATES, INC. 17 Land Sale No. 2 Property Identification Record ID 566 Property Type Commercial Vacant Land Address FM 365 @ Medical Center Drive, Port Arthur. Jeffer- son County, Texas Location Southeast corner Legal Desc. Part of Lot 8, Block 13 K, PALCO Sale Data Grantor Greg Corkran Enterprises, Inc. Grantee Stripes, LLC Sale Date February 13, 2015 Deed Book/Page 2015004773 Financing Cash to seller Verification Lee Wheeler, NAI Real Estate Sale Price $800,000 Cash Equivalent $800,000 Land Data Zoning PD-1, Commercial Topography Level, cleared Utilities All available Shape Almost rectangular Flood Info Zone B Land Size Information Gross Land Size 1.820 Acres or 79,279 SF Front Footage 331 ft + on FM 365; 250 ft on Medical Center Drive; Indicators Sale Price/Gross Acre $439,560 Sale Price/Gross SF $10.09 Remarks Tract was purchased for construction of a convenience store/fuel sales facility. Tract was recently purchased from Neches Federal Credit Union with adjacent property at an unknown price and "flipped" to current buyer, with simultaneous closings. COOK &ASSOCIATES, INC. 18 Land Sale No. 3 Property Identification Record ID 728 Property Type Vacant Land Address 7340 Memorial (US 69), Port Arthur, Jefferson Coun- ty, Texas Location East side, just south of Jimmy Johnson Blvd, also fronts Anchor Drive Tax ID PIDN 386233 Legal Desc. East side, just south of Jimmy Johnson Blvd, also front Anchor Drive MSA Beaumont-Port Arthur Sale Data Grantor Redwine Family Partners, Ltd Grantee Anchor Hotel, LLC Sale Date October 22, 2015 Deed Book/Page 2015034860 Financing Cash to seller Verification Agent, Larry Wood, AREC Sale Price $326,700 quoted at $5.00/SF for 1.50 Acres Cash Equivalent $326,700 Land Data Zoning PD-3 Topography Level, cleared, somewhat below grade along US 69 Utilities All available Shape Slightly irregular Flood Info AH Land Size Information Gross Land Size 1.657 Acres or 72,179 SF Front Footage 302 ft + on US 69; 173 ft + on Anchor Drive; Indicators Sale Price/Gross Acre $197,164 Sale Price/Gross SF $4.53 Remarks The tract was purchased for a motel site (Days Inn). A multiple pipeline ROW severs the southeast corner. The southeasterly .1567 Acres is subject to an in- gress/egress easement in favor of the adjacent owner to the south. COOK & ASSOCIATES, INC. 19 Land Sale No. 4 Property Identification Record ID 637 Property Type Vacant Land Address US 69/96/287, Port Arthur, Jefferson County, Texas Location Southwest side shopping center pad site out of 13.7 acre parent tract, adjacent and southeast of Salt- grass Rest. just southeast of FM 365 Legal Desc. Part of Block 12, Range J, PALCO MSA Beaumont-Port Arthur Sale Data Grantor PA 69 LP Grantee Ybarra Investments, Inc. Sale Date January 06, 2016 Deed Book/Page 2016000340 Financing Cash to seller Verification Agent, Drew Polk, Bums Properties Sale Price $1,860,360 Cash Equivalent $1,860,360 Land Data Topography Level, cleared Utilities All utilities available Shape Rectangular (+- 250' x 372') Flood Info AH Land Size Information Gross Land Size 2.135 Acres or 93,018 SF Front Footage 250 ft + on US 69 (Memorial Blvd); Indicators Sale Price/Gross Acre $871,200 Sale Price/Gross SF $20.00 Remarks Purchased for a new restaurant site. Tract is part of PIDN 73857. It is located in immediate proximity to Central Mall (across US 69) and concentrated surround- ing commercial development. A multiple pipeline ROW crosses the southwest corner. COOK & ASSOCIATES, INC. 1 20 Land Sale No. 5 Property Identification Record ID 724 Property Type Vacant Land Address Central Mall Drive @ Regional Drive, Port Arthur, Jef- ferson County, Texas Location NEC, also interior frontage on Santa Fe Court Legal Desc. Part of Lot 5, all of Lots 2 thru 7, Park Central Com- mercial Plaza MSA Beaumont-Port Arthur Sale Data Grantor B G Foods, Inc. Grantee Christus Health Southeast Texas Sale Date January 12, 2017 Deed Book/Page 2017001712 Financing Cash Verification Broker, J. M. Prewitt Sale Price $2,097,432 Cash Equivalent $2,097,432 Land Data Zoning PD-2 Topography Level, cleared Utilities All available Shape Irregular Flood Info Zone B Land Size Information Gross Land Size 6.200 Acres or 270,072 SF Front Footage 303 ft + on Regional Drive; 316 ft 4. on Central Mall Drive; Indicators Sale Price/Gross Acre $338,295 Sale Price/Gross SF $7.77 Remarks The tract has additional interior frontage on Santa Fe Court. COOK & ASSOCIATES, INC. 21 Land Sale No. 6 Property Identification Record ID 725 Property Type Vacant Land Address Adjacent to 7700 9th Avenue, Port Arthur, Jefferson County, Texas Location Ninth Avenue @ Friar Point Dr. (SEC), adjacent to 7700 9th Ave. Legal Desc. Part of Reserve C, Stonegate Manor, Sec. 4 MSA Beaumont-Port Arthur Sale Data Grantor Ernesto Cabrera Grantee Max Alley Investments Sale Date June 20, 2017 Deed Book/Page 2017020196 Financing Cash to seller Verification Grantor, Ernesto Cabrera Sale Price $295,000 Cash Equivalent $295,000 Land Data Zoning Light Commercial Topography Level, cleared Utilities All available Shape Nearly rectangular Flood Info AH Land Size Information Gross Land Size 0.804 Acres or 35,022 SF Front Footage 162 ft + on 9th Ave; 178 ft + on Friar Point Drive; Indicators Sale Price/Gross Acre $366,915 Sale Price/Gross SF $8.42 Remarks The tract includes 180' x 45' or 8,100 SF of residual paving along the southeast property line. The tract was purchased for construction of a Family Dollar Store. COOK & ASSOCIATES, INC. 22 SUMMARY OF SALES COMPARISON ANALYSIS: Summary of Subject (Parent Tract) Subject Location Size/Acres Medical Center Blvd.at Port Plaza Drive 2.256 Acres * *98,271 SF Land Sales Summary Sale Date Location Size/AC Unit Price/SF 1 1/2011 Medical Center Blvd. 1.00 $7.00 r 2 2/2015 FM 365 @Medical 1.82 $10.09 Center Blvd. 3 10/2015 7340 Memorial 1.657 $4.53 4 1/2016 US 69/96/287 2.135 $20.00 1/2017 Central Mall Drive @ 6.20 $7.77 5 Regional Drive 6/2017 7700 9T' (adjacent) at .804 $8.42 6 Friar Point Market Adjustment Grid - Land Sales Sale SP/SF Fin. Time Size Loca- Phys. Net Adj. Unit # tion Char. Adj. Value/SF 1 $7.00 0 0 -10% 0 +10% 0 $7.00 2 $10.09 0 0 0 -25% 0 -25% $7.57 3 $4.53 0 0 0 -25% 0 -25% $3.40 4 $20.00 0 0 0 -50% -10% -60% $8.00 5 $7.77 0 0 +15% 0 -15% 0 $7.77 6 $8.42 0 0 -15% +10% -15% -20% $6.74 Limited Explanation of Adjustments — (Parent Tract): Financing: All sales were for cash to seller or financing equivalent to cash, therefore, no financing adjustments were necessary. COOK & ASSOCIATES, INC. 1 '34 DELORIviE DeLorme Street Atlas USA®2013 i [ Fp E i , < sr 5 Pa _, J� s \;40:)/, o7 ,ti� s r .� e,''.414/ ,fit ., stE'.i ”<.. .� y ry? 13 �c`' e S� mss . s> c7R s� '� '4o JF, k'• '- • r�yr siG�, s), e \.. QR 4 4' 3 '> S,. .SLS�.e,',6,:, , y `Y� ',:b • 44+` ,,: . is, cc z xPt z y ya 4a • Op " may) ' ! I • s • n, ° ��, cDo b*rP:A -�j's? - t 3 \ �'OO �a N y„, \\ e +vows EN y �` � ��`� �` - 4 ./ '' �4 �,y��,l�y�STONEGATE R� (1, tt "'�'Pe? ' kJ°1Ns s P • J�.- �.3 (L` 1i s,, ::.•-4' ..• • '• R�'FyO . \ i sr liAl�lYY di' ; i'' call' ESTOtiE '. !! . '1 1'_' 4,52 'y�, .5?._P S§,, .i.',O �S''t,. ' _•C(.T �'f<lols,"/kbi'�l' ..} !"v. y O Op lo, �� F ROLLING ROG(DR sr ''ik ' \may ' �. ‘.<.� O PO � �i� i� cy 09?k 1. •a% Jr Q. 4 .J 1. L ,• yt'' L. p `: 3 'AOI• .r L.1 ® ® F :.%CD �� Actcms Pork q eo 4 4,,y b° F 4 ti� ,moo LAND SALES MAP Data use subject to license. is Scale 1:24,000 1 ID DeLorme.DeLorme Street Atlas USA®2013. IIIIII(IAa I. ,., ,,, o m m www.delorme.com 1'=2,000.011 Data Zoom 13-1 23 Time: Prices paid over the time frame considered are fairly consistent. Therefore, no market condition adjustments were necessary. Size: Typically smaller tracts generate relatively higher unit sales prices. Thus, Sales#1 and #6, somewhat smaller than the subject, warrant reflective neg- ative adjustments. Sale #5, somewhat larger, is positively adjusted. Ad- justments applied are generally based on 10% to 15% per double in size. Location: The subject is somewhat removed from significant exposure and concentrat- ed commercial development, but is located in immediate proximity to a major hospital. Sales #2, #3 and #4 are superior to the subject with regard to this factor and are negatively adjusted 25% to 50%. Sale #6 is considered slight- ly inferior and positively adjusted 10%. Utility: The subject is a corner tract, encumbered by two multi pipeline ROW's and an access ROW. Considered overall, Sale #1 is slightly inferior and positive- ly adjusted 10%. Sales #4, #5 and #6, somewhat superior, are negatively adjusted 10% to 15%. All sales are located in the subject's market area and are considered to provide reliable indicators of value for the subject parent tract. After adjustments, the sales indicated a value range from $3.40/SF to $8.00/SF. The mean value indicated for the subject tract is $6.75/SF. The median value is $7.29/SF. Omitting Sale #3, somewhat below the estab- lished range, results in a mean of$7.42/SF and median of$7.57/SF Based on this analysis, a unit value of$7.50/SF is considered reasonable and when ap- plied to the subject parent tract indicates the following: 98,271 SF @ $7.50/SF = $737,033 RECONCILIATION OF FINAL VALUE ESTIMATE: The sales selected for analysis are in the subject marketing area and have a reliable degree of comparability to the subject property. The adjustments for variances between the comparable properties and the sub- ject property are thought consistent with the opinions and attitudes of prudent purchasers. As previously discussed, there were no improvements considered which precludes the use of the Cost Approach and there was no income stream to be evaluated which precludes the use of the Income Approach. In view of these facts, primary consideration is given to the Sales Comparison Approach in developing an opinion of the Market Value of the sub- ject property. COOK & ASSOCIATES, INC. 24 CONCLUDED PROPERTY VALUE: Considering all of the data presented in the forego- ing analyses, it is the appraiser's opinion that, as of the date of inspection, the Market Val- ue of the subject parent tract is: $737,033 or $7.50/SF ESTIMATE OF JUST COMPENSATION: Estimated Market Value of whole property before acquisition (98,271 SF @ $7.80/SF ) $737,033 Estimated Market Value of proposed easement acquisition, as severed land: 74 SF sign easement @ $7.50/SF $ 555 Estimated Market Value of the remainder/before acquisition $736,478 Damage to the remainder - 0 - Total Compensation $ 555 * The 74 SF acquisition for sign easement purposes is considered to approximate 100% fee simple interests; as such use may result in the area being unusable by the owner. The proposed easement is not considered to adversely affect the use or value of the re- mainder tract. COOK & ASSOCIATES, INC. ADDENDA COOK&ASSOCIATES, INC. 25 4000100400000000, VIEW ALONG MEDICAL CENTER DRIVE LOOKING WEST FROM PORT PLAZA DRIVE f . . f VIEW ALONG MEDICAL CENTER DRIVE LOOKING SOUTHEAST FROM PORT PLAZA DRIVE COOK & ASSOCIATES, INC. 26 ,, Cd I f VIEW OF HOSPITAL COMPLEX ON THE SOUTH SIDE OF MEDICAL CENTER DRIVE AT PORT PLAZA DRIVE :Fi$ ,.,:rps _ • 4001Y-- SOUTHWEST ELEVATION OF THE SUBJECT PARENT TRACT COOK & ASSOCIATES, INC. 27 :ya VIEW ALONG PORT PLAZA DRIVE LOOKING NORTHEAST FROM MEDICAL CENTER DRIVE VIEW OF MULTIPLE PIPELINE ROW ENCUMBERING THIS WESTERLY PORTION OF THE PARENT TRACT LOOKING NORTHWEST FROM PORT PLAZA DRIVE COOK & ASSOCIATES, INC. 28 , ilk • • `:r'" '..?' • If f— ai. '44.� . R '- • -rs ?cam as A.., \_ fi ra a- VIEW OF HOME TWO PLAZA ROW ENCUMBERING THE SOUTHEASTERLY PORTION OF THE SUBJECT PARENT TRACT .. ,,- HOMEI rn" : :-.441,<2 i ." Yom. g P R � 5n '°M';‘,",,.4), .w; v� Y 4 .`a"vi,4 ;'.4* `mac �R ay V �. ,....:7-,,,,-4,,,i ,,•,-.:, r .1,„f .R. 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I. �� PQr AMMO LAND COMPANY 9AIRMS,ON LI WY OF PORT ARMUR ( EFFEASON MAT.%mkt s-Tti-=-i✓t'» � cL7c -%.: osa..7.m trsc STATE Ob' TI:.CA !•`. _cg .:ssFw =71.---=.-...."‘...--------1/4...::-X-..7 ('01;NTY OF JFFFPRSQA ES—"7,- :,:tat .sem. 54 .. . _:c:=. +c_a .a:-.. :L !tFl- 'w:'P`.2.:::4-2 .42:;.'S: RL'C.limti•NP,,,,.—.—. M w A.r•*sin rr.. .r '`, �` ., r `4ASn4 STATC OF TEAS••e ••' =tri \'Sy 1 11114-1, . ..a; 1 -I T 1 ..,..- . I • ' i t r ... — s, .v.sor`'•\ .1 i { I o-! ,`i F5 w=i::.T:" 1n,-e;•rsP : I. l '.. Illkii .......... .• to 14.1 , 7 sac:.. ,,,,...:.„,, cxrar-� . 41, _ �1 t .\` \�� -:.'a , .-•—.. I [ ...n.�. . -1- 1,,,„-..,..-_,_y _.. .1 ``% \,` 2.722Z;221.1.".“''.." I . .�! ill F� - - \ •^f. '.—.` ....ar,. ..a.........t.ran..=... 141 RAT AK ! ♦ ... rapWill ~�.u)ti7t .... �y( `l I ,`` `*,,♦.1 '.KIU�Y,ji.; I '1: a.as mid •(^.�.�.+.•.w.._...,.•�, `u.. .r.� . 6:!.-4-Y_T__ ` + r\\ I .•�..�r ,...e.:."L".�,ifi:. ......v'.i'iw I 1111111=111 ERA !I Ne WM far "'[ ",o.. 1 IMO,4Y 1.131.1 .4[1: I .. f I I I 1 .\ .yam f1c.r Oa MI . W MA .O �.\9 T��+1�y���� Ng Ai /....4 0.... I tip. . . Mr. W- We�. ' _ ou i i x M1In:.r...TAW 1.1.00.961 KO4 I ' r1 \' ..,L1.-- - - -_ ''-J.yn. r P. ... ,. 1 \- SIRKYTI.7 h rbraym t twwa+%.b., r p110 ep 11514 rsi E 4s 1 T" SURVEY \\\\ \ ;' I PROPOSED \ \\ \, \ \ TRACT 5-A ! PROPOSED 1 • _� a TRACT S-8 \ \ \ \ \\ POINT OF BEGINNING \\, \\ 1 1 RAKHIRI,LLC D8555442-03' \\ F.4 2008018120.O.P.R.J.1 \ \ \ LI <Ai CALLED 4.00 ACRES \\ \ LAND ACRE OF COY oF` F.2005041970. RT R0.P.R.R.C. \ \ y\\ PART OF LOT 5,811(. 12,HG. "J" 1 \ I \\ PORT ARTHUR L COMPANY 1 >o \ \ I {% SUBOIN9ON — — o \ \ I VOZ9'Tr w 17330' s 31 • \\ \\\, F0IPO 1/2"STm ROD CAPPED'SOUTEX' t1_. 1,• {1 \ , tSTEEL ROO CAPPED•SOUDDr n OL '- `\ '\\ —"� {� \ \\ 50'910E TCXACO PPE112 WRP.EASEMENT 'i L_ Z W \ \ \\ YCL.898,PO.347,OA.AC, i,-,11___I w \ \ 30'910E CIRCA OF TEXAS PIRIME EASEMENT L __._— H r \ Vol.1447.PC.701.D.R.J.C. — —T—� - —— —_ E \ \\ IT I '� = a \ \ \ \\\ n \ �j I PORT PLAZA DRIVE �" \\ • \ \\\ NARRIOT HOTEL F ii I I GJ • \ \ DPG 9 PORT A, LLC I !` \,� \\ \\\\\\ F.(2012033239, O.P.R.J.0 1. i _t 1 __ *\ \\ \�\ I I __ RESIDUE 1 \ `Cs*, \ \\ \\, `:PO.x d 54 AI S' SURVEY CLIENT: HONE 2 SUITES PROPOSED SICNAGE EASEMENT- EXHIBIT'B' \ '\ •\ b V 1.,. .....---,....• \\ 0 10 20 E \ \ \\ \ \ I \ \ \\ \ I \ I SC#LE'i20' ies \` \ \\ \I \\ \ \ \ ‘'‘'c‘1.6 \. \\•\ \\ t•�o-Q¢\ \ 1 \ \ \\ \ I \ \ \ \ \ \row OP 0010Q1TCIIIG \ FOUNy t \\ \ CAPPEDr OurEr STEEL 0D \ L01 RG'• \ \ PI: 50D66�273 \ - — — ���tp f¢ tosTs \ \ \ \\ PaC'cY'fly Q \\ \\\ \ hsa, \ \\ \ \\ \ \ \ O N. O \ \\ \\ \\ h \ \ \ \\ \ \ H d \ \ \ \ \ � 9i \ \ \ \Q1 \ \\ \ \\ POINT Of =ORMI 2. : \ RE:3555640.14 ( tl \ \• \ 0.0017 ACRE ff 1 \• \\ \ C \ �� \ \\ �\\ �\ p ` PORT PLAZA OR1VE _ \ MOO 5 \_ F./2014003970 OP.R.J.0 � P�b'4\ . .SET,fY STEEL ROD N ���F./2012031239 OPA,LG N \�'P 9 \ UPPED'sourer $ Line Table ', '� r�Qyq• �\ OPRaa MOND l Line 0 Length Direction rQ\. COPA -aTr CP PORT ARTHUR iT Lt 10.82 N53'32'48'W , N N \N 1 L3 10.77 55372'48'E L2 7.47 N56158'08-E Curve Table I Curve x Length ROdIua Chord Bearing Chord 0.tonce pNTI{Ok,► r ' Cl 7.53 235.01 558'01'58'W 7.53 REG 'y ..�I 'x• •IONAL, i L. v • 1 SURVEYOR NO. 5481 SURVEYORS NOTES F6tfA Flood Zone: AN 1. NE=MO SCUMS TO/COMPANY SURVEY OF PAN DATE(EXHORT'A1 _ Community Pond NO.: '.Qf+ 485499 0030 E _T~...✓a«...�1. • Panel Date: 04117184 sou •ri��i Pod ArtLxu.Tama 77642 "4'!x, 1 IF Project No. 14-9988-S Td409.9d3r 4 !5..I1,A .10 7 $[JRVE}'QR.S IY FI�KA`ffit$ Fnc409.983.2005 �•� 87 Dtls Gi kur.gmM. roelmorvegoraaow a TBPE Firm No.F-5755 :rn" .• TBPLS Firm No.10123800 UTEX LA EF.0005711 3737 Doctors Drive Port Arthur,Texas 77642 Lam, SURVEYORS&ENGINEERS Of (409)983.2004 Fax(409)983.2005 EXHIBIT "A" 0.0017(74 SQUARE FEET)ACRE OF LAND OUT OF BLOCK 12,RANGE "J" PORT ARTHUR LAND COMPANY SUBDIVISION CITY OF PORT ARTHUR JEFFERSON COUNTY,TEXAS BEING 0.0017 (74 square feet) acre of land for signage easement purposes out of and a part of Lot 5, Block 12, Range "J", Port Arthur Land Company Subdivision, recorded in Volume 1, Page 22, Map Records, Jefferson County, Texas; being part of a (Called 4.00) acre tract of land described in a deed to the City of Port Arthur, recorded in File No. 2005041970, Official Public Records, Jefferson County, Texas; said 0.0017 acre tract being more fully described by metes and bounds as follows,to wit: Note: Bearings, coordinates, distances and acreage are based on the Texas Coordinate System of 1983, South Central Zone, US Survey Feet, and are referenced to SmartNet, North America. COMMENCING at a %2" steel rod,capped and marked"SOUTEX", found for a common corner of a tract of land described in a deed to RAKHIRI, LLC, recorded in File No. 2008018I28,Official Public Records,Jefferson County,Texas and a tract of land described in a deed to DPG 9 Port A LLC(Marriott Hotel),recorded in File No.2012033239,Official Public Records, Jefferson County, Texas; said ''/2" steel rod having a Texas Coordinate of N: 13 922585.63,E: 3555482.27; THENCE, South 28 deg., 54 min., 27 sec., East, a distance of 119.93' to a Y2" steel rod, capped and marked "SOUTEX", set for the POINT OF BEGINNING; said /2" steel rod being on the West line of a proposed Home 2 Plaza Drive and being the Northeast corner of the herein described tract; having a Texas Coordinate of N: 13922480.64, E: 3555540.24; THENCE, South 53 deg., 32 min., 46 sec., East, on the proposed West right of way line of said Home 2 Plaza Drive, a distance of 10.77' to a '/2" steel rod, capped and marked "SOUTEX", set on the North line of a 10' wide City of Port Arthur Water and Sewer Easement, recorded in File No. 2012033239, Official Public Records, Jefferson County, Texas; said %2" steel rod being the Southeast corner of the herein described tract; 'THENCE, on the North line of the 10' wide City of Port Arthur Water and Sewer Easement on the arc of a curve to the left having a radius of 235.01',an arc length of 7.53', a chord bearing of South 58 deg., 01 min., 58 sec., West,a chord distance of 7.53' to a '/2" steel rod, capped and marked "SOU 1'iX", set for the Southwest corner of the herein described tract; THENCE, North 53 deg., 32 min., 46 sec., West, a distance of 10.62' to a '/z" steel rod, capped and marked"SOUTEX", set for the Northwest corner of the herein described tract; THENCE, North 56 deg., 56 min., 08 sec., East, a distance of 7.47' to the POINT OF BEGINNING and containing 0.0017 acre of land,more or less. This description is based on the Land Title Survey made by Anthony M. Leger, Registered Professional Land Surveyor No. 5481, on April 23,2018. Home 2 Suites/Anthony Patel LS-14-0968-S "OF '', • 8T Rt S • ge13.20"15 Internal:1d•Lel Flood Maps Prepared for Cook&AssocteleS InterFlood • •i , • „ , „ 211111/11/111/1111111181111/1,4,1)talk 14,081.18111**8111881we MAP DATA MAP LEGEND FEMA SpoPCsal FPX10 Hazard Area*Yea D Areas mundaten by 500-yrai feet:Ming Prtrtected Areas Map Ntirrtser 4854990030G Alli4/2 Inundated by 100•yeai flooding 0, Finodimy Zona.AH Map Date Apia 17.INA 111 Votio,ory M110 ) Sutneri Area RPS 44245 % . .'''.- ' . ''' P.",'''''''f '.. „ . `'-. „4./1444 A. ', . • } , ?Md ilk i1 ....." 4..' °! / ' �'+1 N'�, a: ,iJ,t•ffp♦ .ter ' ,o` -it,r,u-• :1 .7 b I 4 '. �Y`1 s, • 10.,. !''',.1; ,1• :.. '.,/.f• i i -',a... Ab. • *NI •.., : �. r*gra, ri s ai>( \ 1 14• // 4 o . /.. 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ZONING MAP 9/13/2018 Property Details Jefferson CAD Property Search Rasolts -• 73874 CITY OF PORT ARTHUR for Year 2019 Property Account Property ID: 73874 Legal Description: TR 7-A REPLAT OF LT 5 TR 3 B12J PALCO 2.256AC Geographic ID: 049400-000-048844-00210-6 Agent Code: Type: Real Property Use Code: CC Property Use Description: VACANT CITY PROPERTY Location Address: Mapsco: 109-88 TX Neighborhood: Map ID: 0 Neighborhood CD: Owner Name: CITY OF PORT ARTHUR Owner ID: 450415 Mailing Address: PO BOX 1089 %Ownership: 100.0000000000% PORT ARTHUR,TX 77641-1089 Exemptions: EX-XV (+)Improvement Homesite Value: + N/A (+) Improvement Non-Homesite Value: 4 N/A (+) Land Homesite Value: + N/A (+)Land Non-Homesite Value: + N/A Ag/Timber Use Value (T)Agricultural Market Valuation: + N/A N/A (+)Timber Market Valuation: N/A N/A (=)Market Value: - N/A (—)Ag or Timber Use Value Reduction: N/A (=)Appraised Value: = N/A (—)HS Cap: - N/A (=)Assessed Value: = N/A Owner: CITY OF PORT ARTHUR %Ownership: 100.0000000000% Total Value: N/A Entity Description Tax Rate Appraised Value Taxable Value Estimated Tax 109 PORT ARTHUR INDEPENDENT SCHOOL DISTRICT N/A N/A N/A N/A 235 CITY OF PORT ARTHUR N/A N/A d;c N/A 343 PORT OF PORT ARTHUR N/A N/A N/A N/A 755 SARINE-NECHES NAVIGATION DI5T N/A N/A N/A 851 DRAINAGE DISTRICT#7 N/A N/A N/A 901 JEFFERSON COUNTY N/A N/A t.i/,o. N/A A59 FARM AND LATERAL ROAD N/A N/A N/A N/A https://propaccess.trueautomation.com/clientdb/Property.aspx?prop_id=73874 1/2 9/13/2018 Property Details CAD JEFFERSON CO APPRAISAL DISTRICT N/A N/A N/A N/A Total Tax Rate: N/A Taxes w/Current Exemptions: N/A Taxes w/o Exemptions: N/A No improvements exist for this property. # Type Description Acres Sqft Eff Front Eff Depth Market Value Prod.Value 1. 51 Square Foot Syle Type 2.2560 98271.36 0.00 0.00 N/A N/A 111111. -.1111., of~tilIgN/ 41.0mil/P, 'e I% it r,. Year Improvements Land Market Ag Valuation Appraised HS Cap Assessed 2019 N/A N/A N/A N/A N/A N/A 2018 $0 $176,890 0 176,890 $0 $176,890 2017 $0 $176,890 0 176,890 $^ $176,890 2016 `.:0 $176,890 0 176,890 $0 $176,890 2015 $0 $176,890 0 176,E:9t! $0 $176,890 2014 So $176,890 0 176,890 $0 $176,890 2013 $0 $176,890 0 176,890 $0 $176,890 2012 $0 $313,530 0 313,E.30 $0 $313,630 2011 $0 $313,630 0 313,630 $0 $313,630 2010 $0 $313,630 0 313,630 $0 $313,630 2009 $0 $313,630 0 313,630 50 $313,630 2008 $0 $313,630 0 313,630 50 $313,630 20D7 $0 $313,630 0 313,630 $0 $313,630 2006 $0 $313,630 0 313,630 $0 $313,630 "'WINNOW/M.' -.ow -.110111101PINININIII.' IN.,r4 t¢tetzrk, a ' 1 geed 1.,..,��cactiar►5' # Deed Date Type Description Grantor Grantee Volume Page Deed Number 1 11/28/2005 WD WARRANTY DEED CITY OF PORT 2005041970 ARTHUR tax Due Property Tat Information as of 09/13/2018 r- Amount Due if Paid on: xi::' Year Taxing Taxable Base Base Taxes Base Tax Discount/Penalty& Attorney Amount Jurisdiction Value Tax Paid Due Interest Fees Due NOTE:Penalty&Interest accrues every month on the unpaid tax and is added to the balance.Attorney fees may also Increase your tax(lability If not paid by July 1.1f you plan to submit payment on a future date,make are you enter the date and RECALCULATE to obtain the correct total amount due. ..,.,.:::L,:: _:ase L.all +4llf,,t 840-99:44 ,e,,t Is not ce.tified ann Alt v,!tie: v„It t:,.. .VP,.wnTerr with https://propaccess.trueautomation.com/clientdb/Property.aspx?prop_id=73874 2/2 GENERAL UNDERLYING ASSUMPTIONS AND LIMITING CONDITIONS This appraisal report and the letter of transmittal are made expressly subject to the follow- ing assumptions and limiting conditions: General Underlying Assumptions Legal Matters: The legal description used in this report is assumed to be correct, but it may not necessari- ly have been confirmed by survey. No responsibility is assumed in connection with a sur- vey or for encroachments or overlapping or other discrepancies that might be revealed thereby. Any sketches included in the report are only for the purpose of aiding the reader in visualizing the property and are not necessarily a result of a survey. No responsibility is assumed for an opinion of legal nature, such as to ownership of the property or condition of title. Unless otherwise stated,the subject property appraised is the surface estate only, with no consideration of mineral interests. The appraiser assumes the title to the property to be marketable;that, unless stated to the contrary, the property is appraised as an unencumbered fee which is not used in violation of acceptable ordinances, statutes or other governmental regulations. Unapparent Conditions: The appraiser assumes that there are no hidden or unapparent conditions of the property, subsoil or structures which would render it more or less valuable than otherwise compara- ble property. The appraiser is not an expert in determining the presence or absence of hazardous substance, defined as all hazardous or toxic materials, waste, pollutants orcon- taminants (including, but not limited to, asbestos, PCB, UFFI, or other raw materials or chemicals) used in construction or otherwise present on the property. The appraiser assumes no responsibility for the studies or analysis which would be re- quired to conclude the presence or absence of such substances or for loss as a result of the presence of such substances. The client is urged to retain an expert in this field, if de- sired. The value estimate is based on the assumption that the subject property is not so affected.. The site being appraised appears firm unless otherwise noted, however, soils common to the area have a high shrink-swell potential and may exert unusual pressure on foundations. The appraiser does not warrant against this condition or the occurrence of problems arising therefrom. COOK & ASSOCIATES, INC. Information and Data: Information, estimates and opinions furnished to the appraiser and contained in the report, were obtained from sources considered reliable and believed to be true and correct. How- ever, no responsibility for accuracy of such items furnished the appraiser can be assumed by the appraiser. All mortgages, liens, encumbrances and servitudes have been disregarded unless so specified within the appraisal report. The subject property is appraised as though under responsible owner- ship and competent management. Zoning and Licenses: It is assumed that all applicable zoning and use regulations and restrictions have been complied with, unless a nonconforming use has been stated, defined and considered in the valuation. It is assumed that the subject property complies with all applicable federal, state and local environmental regulations and laws unless noncompliance is stated, defined and consid- ered in the valuation. It is assumed that the information relating to the location of or existence of public utilities that has been obtained through a verbal inquiry from the appropriate utility authority, or has been ascertained from visual evidence is correct. No warranty has been made regarding the exact location or capacities of public utility systems. It is assumed that all licenses, consents or other legislative or administrative authority from local, state or national governmental or private entity or organization have been,or can be, obtained or renewed for any use on which the value estimate contained in the valuation re- port is based. The appraiser will not be required to give testimony or appear in court due to preparing the appraisal with reference to the subject property in question, unless prior arrangements have been made. Possession of the report does not carry with it the right of publication. Out-of-context quot- ing from or partial reprinting of this appraisal report is not authorized. Further, neither all nor any part of this appraisal report shall be disseminated to the general public by the use of media for public communication, nor used for any purpose by any but the intended user, without the prior written consent of the appraiser signing this appraisal report. This appraisal is to be used only in its entirety and no part is to be used without the whole report. All conclusions and opinions concerning the analysis are set forth in the report were prepared by the appraiser(s)whose signature(s)appear on the appraisal report. No change of any item in the report shall be made by anyone other than the appraiser and/or owner of the firm. The appraiser and firm shall have no responsibility if any such unauthor- ized change is made. COOK & ASSOCIATES, INC. Disclosure of the contents of this report is governed by the By-Laws and Regulations of the Appraisal Institute. Neither all nor any part of the contents of this report (especially any conclusions as to value, the identity of the appraisers or the firm with which they are con- nected, or any reference to the Appraisal Institute or to the appraisal designations)shall be disseminated to the public through advertising media, public relations media, news media, sales media or any other public means of communication without the prior written consent and approval of the author. The distribution of the total valuation in this report, between land and improvements, is ap- plicable only as a part of the whole property. The land value, or the separate value of the improvements, must not be used in conjunction with any other appraisal or estimate and is invalid if so used. An appraisal related to an estate in land that is less than the whole fee simple estate ap- plies only to the fractional interest involved. The value of this fractional interest plus the value of all other fractional interests may or may not equal the value of the entire fee sim- ple estate considered as a whole. The appraisal is subject to any proposed improvements or additions being completed as set forth in the plans, specifications, and representations referred to in the report, and all work being performed in a good and workmanlike manner. The appraisal is further subject to the proposed improvements or additions being constructed in accordance with the regu- lations of the local, county and state authorities. The plans, specifications and representa- tions referred to are an integral part of the appraisal report when new construction or new additions, renovations, refurbishing or remodeling applies. If this appraisal is used for mortgage loan purposes, the appraiser invites attention to the fact that(1)the equity cash requirements of the sponsor have not been analyzed, (2)the loan ratio has not been suggested, and (3) the amortization method and term have not been suggested. The function of this report is not for use in conjunction with a syndication of real property. This report cannot be used for said purposes and,therefore, any use of this report relating to syndication activities is strictly prohibited and unauthorized. If such an unauthorized use of this report takes place, it is understood and agreed that the appraiser has no liability to the client and/or third parties. The appraiser reserves the right to alter the opinion of value on the basis of any infor- mation withheld or not discovered in the normal course of a diligent investigation. There is no accountability, obligation or liability to any third party. The appraiser assumes no responsibility for any costs incurred to discover or correct any deficiencies present in the property. COOK & ASSOCIATES, INC. The Americans with Disabilities Act("ADA") became effective January 26, 1992. The ap- praiser has not made a specific compliance survey and analysis of this property to deter- mine whether or not it is in conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of the property,together with a detailed analysis of the requirements of the ADA, could reveal that the property is not in compliance with one or more of the requirements of the Act. If so, this fact could have a negative effect upon the value of the property. Since the ap- praiser has no direct evidence relating to this issue,the appraiser did not consider possible noncompliance with the requirements of ADA in estimating the value of the property. Acceptance of and/or use of this appraisal report constitutes acceptance of the foregoing General Underlying Assumptions and General Limiting Conditions. The appraiser's duties, pursuant to the employment to make the appraisal, are complete upon delivery and ac- ceptance of the appraisal report. However, any corrections or errors should be called to the attention of the appraisers within 60 days of the delivery of the report. COOK & ASSOCIATES, INC. QUALIFICATIONS OF W. BURNELL COOK, MAI, SRA President, Cook & Associates Professional Affiliations and Activities MAI and SRA Member of Appraisal Institute, Houston Chapter Southeast Texas Chapter of CPA's Texas Society of CPA's National Association of Realtors Texas Association of Realtors Beaumont Board of Realtors Educational Background Graduated from Forest Park High School, Beaumont, in 1972 Graduated from Lamar State University, Beaumont, in 1976 (BBA in Accounting) Recent Continuing Education New Strategies for Investing in Real Estate 9/2010 Investing in Income Properties 9/2010 Business Practices and Ethics 12/2010 Commercial Appraisal Engagement and Review 4/2011 Estate Planning 10/2012 Appraising Distressed Commercial Real Estate 12/2012 Effective Rents 3/2013 Seller Concessions 3/2013 Financial Analysis 9/2014 Analyzing Operating Expenses 1/2015 Forecasting Revenue 2/2015 National USPAP Update 7/2016 Comparative Analysis 3/2017 Business Practices and Ethics 3/2017 Sales Comparison Approach Workshop 3/2017 Experience Work experience incudes various accounting and financial management posi- tions from 1976-1984 with emphasis on real estate investments, and business acquisi- tions and divestitures as chief financial officer. In February 1984, I Joined Cook & Associates and nave been active in consulta- tion, expert witness testimony and appraisal of various real estate interests in the East Texas and Southwest Louisiana areas. Such interests include single family residential, agricultural and timberland, industrial properties, offices, retail centers, apartments, mo- tels, restaurants, R.O.W. acquisitions and various other commercial and special pur- pose properties. Licenses/Certification Licensed Certified Public Accountant (#22347) Texas State Certified General Appraiser - TX 1320838-G COOK & ASSOCIATES, INC. IlLexaft ZEppraiger 7..icenotng anb Certification 31Boarb P.O. Box 12188 Austin, Texas 78711-2188 Ceiified General Real Estate Appraiser Number: TX 1320838 G Issued: 04/21/2017 Expires: 05/31/2019 Appraiser: WILLIAM BURNELL COOK • • - Having provided satisfactory evidence of the qualifications required by the cr Texas Appraiser Licensing and Certification Act, Texas Occupations Code, I - Chapter 1103, is authorized to use this title, Certified General Real Estate '<ugles E.Old Ixon Appraiser. Commissioner COOK & ASSOCIATES, INC. Real fstxte Appraisers 2640 McFaddin • Beaumont.Taxa" 77702 • (404)035-143.0 • Fax(404)835-7314 • Tax It)#76'625476 • W. Burnell Cook, MAI, SRA, CPA cookappragmail.com Stephen F. Peyton appralsalsOcookandassociatesInc.com August 10, 2018 Ms. Aleska Washington Engineering Secretary Public Works Department City of Port Arthur 444 4th Street, 3nd Floor Port Arthur, TX 77640 aleska.washingtonpportarthurtx.gov RE: Appraisal of the proposed 74 SF Home 2 Suites proposed sign easement Dear Ms. Washington: Per your request, we propose to provide a Narrative Appraisal(Sales Comparison Approach) of the above referenced property. We propose to deliver the appraisal report within 4 to 6 weeks from the day of assignment for a fee not to exceed $2,500. The appraisal will be prepared in conformity with the Uniform Standards of Professional Appraisal Practice and the Code of Professional Ethics of the Appraisal institute. Two copies of the report may be provided. Electronic copies may be provided in lieu of or in addition to hard copies. Should this proposal be satisfactory, please sign below indicating acceptance and authorization of engagement and return by email to cookappr(?grnail.com, by fax to 409-835- 7314 or by mail to the address above. Please provide contact information to arrange for Inspection of the property. Any maps, plats, deeds, tax accounts or legal descriptions that you can provide would be helpful. We appreciate the opportunity to be of service to you. If you have any questions, please do not hesitate to contact us. Respectfully submitted, COOK& ASSOCIATES, INC. 4144` .4 \ Sf \ W. Burnell Cook, MAI, SRA Accepted by: Date P.R.NO.20427 10/25/2018 pdl EXHIBIT B EASEMENT STATE OF TEXAS § § KNOW ALL MEN BY THESE PRESENTS COUNTY OF JEFFERSON § THAT, the City of Port Arthur, Texas, hereinafter called "Grantor(s)", for and in consideration of the sum of TEN AND NO/100 ($10) DOLLARS and other consideration to us in hand paid by Port Plaza Hotel LLC, (hereinafter called the "Grantee"), as well as other good and valuable considerations, receipt of all of which is hereby acknowledged and confessed, have GRANTED, SOLD, and CONVEYED and by theses presents do GRANT, SELL and CONVEY unto the said grantee, a right, privilege and Easement in, and across the tracts of land situated in Jefferson County, Texas to wit: For metes and bounds description & sketch, see Attachment "A", respectively, attached hereto and incorporated by reference. Said Easement shall be for the purpose of constructing and installing a sign monument and it is granted subject to these provisions: I It is expressly understood and agreed that the grantee shall have the right of ingress to and egress from the above described tracts of land for the aforesaid purposes of this Easement. II It is expressly understood and agreed that the grantee shall have the right to temporary use of such adjacent property to the above designated Easement tracts as is reasonably needed for working room to accomplish the aforesaid purposes of this Easement. TO HAVE AND TO HOLD the same unto the City of Port Arthur, Texas, its successors and assigns forever. WITNESS OUR HAND(S), this day of , A.D., 2018. CITY OF PORT ARTHUR, TEXAS By: Harvey Robinson Interim City Manager ACKNOWLEDGMENT THE STATE OF TEXAS COUNTY OF JEFFERSON BEFORE ME, the undersigned Notary Public, on this day personally appeared Harvey Robinson, Interim City Manager of the City of Port Arthur, Texas, known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same as the act and deeds of the City of Port Arthur, for the purposes and considerations therein expressed, and in the capacities therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE, this day of , 2018. NOTARY PUBLIC IN AND FOR THE STATE OF TEXAS Signed and agreed to on the day of , AD, 2018. Port Plaza Hotel LLC By: Anthony Patel President ACKNOWLEDGMENT THE STATE OF TEXAS COUNTY OF JEFFERSON BEFORE ME, the undersigned Notary Public, on this day personally appeared Anthony Patel, President of Port Plaza Hotel LLC, known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same as the act and deeds of Port Plaza Hotel LLC, for the purposes and considerations therein expressed, and in the capacities therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE, this day of , 2018. NOTARY PUBLIC IN AND FOR THE STATE OF TEXAS RETURN TO: CITY OF PORT ARTHUR ATTN: Valecia Tizeno City Attorney P. O. Box 1089 Port Arthur, Texas 77641-1089 ATTACHMENT "A" (Metes&Bounds description) TBPE Firm No.F-5755 • TBPLS Firm No.10123800 401. _ OUcrpiEx LA EF.0005711 w ,, !` 3737 Doctors Drive 1 Port Arthro.Texas 77642 JOffice(409)983.2004 SURVEYORS&ENGINEERS Fox(409)983.2005 EXHIBIT "A" 0.0017(74 SQUARE FEET)ACRE OF LAND OUT OF BLOCK 12, RANGE "J" PORT ARTHUR LAND COMPANY SUBDIVISION CITY OF PORT ARTHUR JEFFERSON COUNTY,TEXAS BEING 0.0017 (74 square feet) acre of land for signage easement purposes out of and a part of Lot 5, Block 12, Range "J", Port Arthur Land Company Subdivision, recorded in Volume 1, Page 22, Map Records, Jefferson County, Texas; being part of a(Called 4.00) acre tract of land described in a deed to the City of Port Arthur, recorded in File No. 2005041970, Official Public Records, Jefferson County, Texas; said 0.0017 acre tract being more fully described by metes and bounds as follows,to wit: Note: Bearings, coordinates, distances and acreage are based on the Texas Coordinate System of 1983, South Central Zone, US Survey Feet, and are referenced to SmartNet, North America. COMMENCING at a''/2"steel rod, capped and marked"SOUTEX",found for a common corner of a tract of land described in a deed to RAKHZRI, LLC, recorded in File No. 2008018128,Official Public Records,Jefferson County,Texas and a tract of land described in a deed to DPG 9 Port A LLC(Marriott Hotel),recorded in File No.2012033239,Official Public Records,Jefferson County, Texas;said 1/2"steel rod having a Texas Coordinate of N: 13922585.63,E: 3555482.27; THENCE, South 28 deg., 54 rain., 27 sec., East, a distance of 119.93' to a 1/4" steel rod, capped and marked "SOUTEX", set for the POINT OF BEGINNING; said W' steel rod being on the West line of a proposed Home 2 Plaza Drive and being the Northeast corner of the herein described tract; having a Texas Coordinate of N: 13922480.64, E: 3555540.24; THENCE, South 53 deg., 32 min., 46 sec., East, on the proposed West right of way line of said Home 2 Plaza Drive, a distance of 10.77' to a 1/4" steel rod, capped and marked "SOUTEX", set on the North line of a 10' wide City of Port Arthur Water and Sewer Easement, recorded in File No. 2012033239, Official Public Records, Jefferson County, Texas; said %2" steel rod being the Southeast corner of the herein described tract; THENCE, on the North line of the 10' wide City of Port Arthur Water and Sewer Easement on the arc of a curve to the left having a radius of 235.01',an arc length of 7.53', a chord bearing of South 58 deg., 01 min., 58 sec., West, a chord distance of 7.53' to a%T" steel rod, capped and marked "SOUTEX", set for the Southwest corner of the herein described tract; THENCE, North 53 deg., 32 min., 46 sec., West, a distance of 10.62' to a '/�" steel rod, capped and marked"SOUTEX", set for the Northwest corner of the herein described tract; THENCE, North 56 deg., 56 min.; 08 sec., East, a distance of 7.47' to the POINT OF BEGINNING and containing 0.0017 acre of land, more or less. This description is based on the Land Title Survey made by Anthony M. Leger, Registered Professional Land Surveyor No. 5481, on April 23, 2018. Home 2 Suites/Anthony Patel LS-14-0968-S "oF� ,..t4,4 Rio �.. . ".„ ... -i• : 14N5Til...fr. st 50,,„ a`su �I CLIENT: HOME 2 SUITES PROPOSED SIGNAGE EASEMENT — EXHIBIT "B" \ \ \ \ \ \ \ \ / \ 0 1 0 20 0 S \ \ . 1 \ -- _ ,. '\ \ \ SC :1"-M'\ \ NI°\ \`I e, \ i \ 1 G \\ \ \\ ����80 0\ti$ \ \ \ �P�pp�SG. \\/ \ I \ \ \ \ \ \ \ \ \ \ \ \ \ \ \POINT O COMMENCING \FOUND r STEEL ROO \ \ \ CAPPED'SOUTEX' •(5 RG'QS.N10 \ \' N:13922585.63 \ X53 ' VP'\0) \ E:3555482.27 \ P SCke5 \ \ \ o \\ Pp�pPN{ \� \\ \ p G 4 \ \ \\ \ \ \ \ \ C101 rye" \\ \� N \\\ ( ti \ \ \ w \ \ \ \ \ \ • 3 \ E5��p P R� \ • \� \ q GP� ,.,\. oO ooy p \ \\ \\\ \ \ n G,�E.'I pQ i. \ \� \�.p6p- t,, W N J \\ \\ \ POINT OF BEGINNING p- \ \\\,o N:13922480.64 a a I 3 \ \ \ E:3555540.24 O O v ci \ \ \ 0.0017 ACREL4, a \ \ \ W \ \ \, (74 SQ/FT ��2 w o \\ \ \ -----..--,,, n [re, i 5 �\c \ \\\ \, G 9 OA \19 py3 \ \ ' PROPOSED MONUMENT SIGN pPMPR�01 �G \ \ ` \ (SEE ATTACHMENT) E.8 Op' \ \\ / \ \\\ \ \\\ i \\ \\ 0 N. St \\ \ N \ — \ \ N. N. H \\ \\ IIIIIIkPORT PLAZA DRIVEK \ LEOO F. 2014003970 O.P.R.J.C. p'.o\. \ • =SET 1/2'STEEL ROO '4 F.# 2012033239 O.P.R.J.C. o'4,4"11\ CAPPED'SOUTEX' Line Table \�\J ;\\ O.P.R.J.C. = OFFICIAL PUBLIC Cv TEXAS j Line # Length Direction rC4 N COPA =CITY OF PORT ARTHUR 7 \ N. E L1 10.62 N53'32'46"W N •-.-;• L3 10.77 S5312'46"E v3 L2 7.47 N56'56'08"E ICurve Table f1 -'"_ a Curve # Length Radius Chord Bearing' Chord Distance ANTHONY M. ." tie a C1 7.53 235.01 S58'01'58"w 7.53 REGISTER,.. PROFE ON• I LAND SURVEYOR NO. 5481 SURVEYORS NOTES • FEMA Flood Zone: AH I. YETES AND BOUNDS TO ACCOI/PANY SURVEY OF EVEN DATE(EXHIBIT-A-) 4 ( QF TF Y Community Panel NO.: 'CI%c's;Eq a•i ', 485499 0030 E ,giQ• 100' Panel Date: 04/17/84 3737 Doctors Drive ANTHONY M.LEGER Port Arthur,Texas 77642 4, 5481 'Project No. 14-0968-5 !''•.oP o?'Qi l TeL409.983.2004 '�'I'daUR��O3 Drawn By: DNSitilS,4i.SOUTE)( SURVEYORS&ENGINEERS Fax.409.983.2005 irast, pas soutexsurveyors.com 6T.U.S.MI 41m1!