Exhibit 5, 342 FW 1, Appraisal Report Specifications

Content. Preparation of the report will comply with "1992 Uniform Appraisal Standards for Federal Land Acquisitions" and the most current edition of "Uniform Standards of Professional Appraisal Practice."

Sequence. To provide uniformity for U.S. Fish and Wildlife Service files, all appraisals both staff and contract, shall reasonably adhere to the following report outline which is based on the outline recommended in the latest publication of "Uniform Appraisal Standards for Federal Land Acquisitions":

        (1) Name and location of property.

        (2) Name of appraiser.

        (3) Effective date of appraisal.

B.     Table of Contents.

C.     Summary Page.

        (1) Name of project - agency designation.

        (2) Location - town, county, and State.

        (3) Ownership identification - name of owners(s), historical name of property, U.S. Fish and Wildlife Service tract number and Department of Justice condemnation case number, when designated.

        (4) Name of appraiser - name, title and/or business address, appraisal society designations.

        (5) Dates of field work - all days spent in area.

        (6) Date of property inspection - specifics of accompaniment by the landowner or his representative. Contract appraiser
should make a definite statement that the owner or his designated representative was given an opportunity to accompany the appraiser during the initial field inspection of the property.

        (7) Effective date of appraisal - estimated as of the most recent field examination date. Unless otherwise provided by specific instruction, this should be considered the last time the appraiser viewed the subject property.

        (8) Interest under appraisal - fee, fee less minerals, fee less stumpage, easement, etc.

        (9) Size - larger parcel in appropriate units of comparison in before and after conditions, if applicable.

        (10) Highest and best use - in before and after conditions, if applicable.

        (11) Appraised values.

                (a) Land subtotal and average per acre or vice versa.

                (b) Improvement subtotal and average per acre or vice versa.

                (c) Property total and average per acre or vice versa.

                (d) If appraised in the before and after conditions, show value for taking and values of whole and remainder as distributed previously in sections (a) through (c).

                (e) Just compensation and distribution of values for taking and severance damages (or special benefits).

A letter of transmittal may be used in lieu of the summary page. If it does not narrate all of the applicable items, a summary sheet should be prepared before the report is transmitted. Again, this sheet should be located immediately after the table of contents within the report.

D.     Representative Photograph(s) of Subject. As appropriate.

E.     Statement of Limiting Conditions and Critical Assumptions.

        (1) Limiting conditions. Define anything that must occur before valuation is applicable; e.g., appraisal is subject to consummation, completion or elimination of conditions or situations prior to "effective date" of appraisal or completion of transaction for which appraisal was requested, which item if not done invalidates the value conclusions.

        (2) Critical assumption. Define assumptions, expectations, and beliefs used in applying factual data and judgments which are believed appropriate and plausible but which cannot necessarily be expected to come to pass (or change) before the "effective date" or completion of transaction.
 
 F.     Statement of Coauthorship. This requires appraiser to acknowledge assistance received by other persons in arriving at the analysis, conclusions, or opinions concerning real estate contained in the appraisal report.
 

B.     Function. Define the reason for the appraisal.

C.     Date of Inspection. Indicate the day(s), month(s), and year(s) of field work and visitation to the subject. A definite statement is required whether or not the owner accompanied the appraiser on the inspection, or that the offer was made to him/her to do so.

D.     Legal Description. The exact legal description should be presented in each report. If it is lengthy, make reference to it in the addenda of the report. If it is subject to survey, make that a condition of the valuation.

E.     Area and Neighborhood Data. This should be limited to mostly social, economic and physical area data which is pertinent to the valuation of the subject property. It should clearly and concisely demonstrate trends, growth, real estate patterns and market conditions, neighborhood amenities, etc. Area and neighborhood data are normally presented before the following property description. Occasionally it is more appropriate to reverse this sequence.

F.     Property Data.

        (1) Site. Describe quantity, quality and/or utilization of land cover types, soil, topography, mineral rights and deposits, leases, permits, access, utilities, easements, tidelands, overflow, meandered, accreted and relicted lands, and other pertinent physical characteristics. Also include a description of minor land improvements such as fencing, stock ponds or wells, ditches, dikes, etc., as distinguished from buildings or major structural land improvements.

        (2) Improvements. Describe by narrative or schedule form the type, original and present utility, dimensions, composition, condition, age, renovation, etc., of buildings and/or major structural land improvements such as dams, reservoirs, irrigation systems, etc.

        (3) Equipment. Describe by narrative or schedule form the type, utility, state of cannibalization, obsolescence, etc., of all items of equipment being appraised as part of the realty. Also describe their repair or replacement requirements.

        (4) Other components. Describe other items being appraised as part of the realty such as stumpage, crops, hunting and fishing rights, etc.

        (5) History. Present a brief and relatively recent market history of the subject. It should include any offers to buy or sell, condition and purpose of recent sales, and/or general marketability of the subject. Parts of this brief discussion may be detailed later within the analysis or addenda portions or shown as an exhibit. A definite statement is needed that the property has (has not) sold in the past 10 years.

        (6) Assessed value and annual taxes. Show the current assessment and dollar amount of annual real estate taxes. If the property is not taxed, the appraiser shall estimate the assessment as though it were placed upon the tax roll, and state the rate and give the dollar amount of the tax estimate. If a resume of total county assessment, tax revenue, and indebtedness is needed, it should be included here.

        (7) Zoning. Describe, in descriptive terms, the present zoning for the subject. Include any reasonably probable changes that may influence value such as a change in zoning or a recent rezoning of the property. Also discuss any other land use or environmental regulations that may affect the property such as deed or plat restrictions and/or subdivision regulations. If appropriate, discuss any effects of nonconforming use on the property.

        The appraiser must exercise care when justifying his/her conclusions as to probability of rezoning with regard to project influence. If rezoning is evident, discuss it in detail in the highest and best use of the appraisal.
 
 

        Include a definition of highest and best use within the determination of this use. The determination of highest and best use includes identifying the motivation of the probable purchaser, be he/she a speculator, investor, or user.

        The following situations require special consideration within the analysis of highest and best use:

        (1) Conformity with highest and best use. Discuss whether present use of subject lands and/or improvements is in conformity with the highest and best use.

        (2) Differing and/or intensity changes in use.

            (a) Partial takings. When an appraisal is made of a partial taking, the highest and best use of both the whole property in the before condition and the remainder in the after condition must be individually considered and described. Differing uses or a change in the intensity of the present use may establish alternate evaluation approaches to the respective appraisal problems.

            (b) Easements. When an appraisal is made for an easement, the highest and best use in the before and after condition should be considered and described.

        (3) Project influence on use. Any decrease or increase in the utility of the property prior to the appraisal caused by the project for which the property is being acquired, other than physical deterioration, will be disregarded. The highest and best use should be estimated as though a new or changing project were not there.

        (4) Differing, temporary and/or interim uses. Differing uses or a change in the intensity of the present use may again establish alternate evaluation approaches. If a change in use is imminent or very probable, as distinguished from highly interim uses should be recognized and discussed because they also have an affect within subsequent evaluation processes.

        (5) Multiple uses. Compatible uses may occur and should be identified and considered without pyramiding value.

B.     Approaches to Value. Traditionally there are three generally recognized approaches used to estimate market value. They are the sales comparison approach, the cost approach, and the income capitalization approach. The data used in support of these approaches will come from the marketplace. Avoid using data which is not clearly supported by factual evidence. Cost and income data obtained from other sources must be adequately identified.

        The appraiser should discuss the reason for selecting the approach(es) used in the value estimate as well as the reasons for rejecting any of the three. If values can be estimated beyond reasonable doubt by using the market approach alone, this may be sufficient. However, the other approaches are useful as a check upon the market data approach particularly when the property is bought and sold based upon its income characteristics. The scope of the appraisal problem will dictate those approaches best suited to logically support a market value estimate. Again, only those approaches which materially contribute to a proper valuation should be used. Unless otherwise instructed in the requirements and deliverables, do not consider using an approach which cannot be relied on as a reasonably accurate indication of value. The contractual obligation can be fulfilled by identifying that approach or requirement, together with a brief explanation for its omission; i.e., an appraisal involving land valuation only.

        The Sales Comparison Approach, is based on analysis of recent sales of comparable properties and/or other market data. This is the most widely recognized and best understood approach. The comparable sales analysis section should include:

        (1) A sales introduction and identification. It is suggested to introduce the sales by describing these collectively in a general way. Sales may be described in detail in the addenda or exhibit portions. If so, a general introductory sales discussion is recommended here. Sales may also be described in detail and then wholly or partially analyzed and tabulated and/or graphed in the addenda or exhibit portions. Such sales will require adequate identification when referenced and/or used for comparison purposes in any of the approaches to value.

        (2) A discussion regarding the reliability, general compatibility and number of available sales.

        (3) A general market analysis of these sales for the significant valuation elements. These elements may have been briefly introduced in the preceding area and neighborhood data or highest and best use analysis sections. The sales should include a cross-comparison to identify any adjustments that will be needed later when sales are individually or collectively compared to the subject.

        (4) A comparison of sales with subject. In the final step, a direct affirmative comparison of sales with subject can only be ensured if the appraiser avoids excessive verbiage. Unneeded detail often raises questions and clouds credibility. A clear, concise market comparison should lend itself to concluding the market data approach with a presentation of valuation elements and/or adjustments in tabular format. Use of tables, charts, or graphs that augment the narrative can be very effective and is highly recommended.

        (5) A final indication of value. Regardless of tables, charts, and graphs, a narrative comparison of the pertinent market data with the subject is still required. The narration should clearly and concisely demonstrate the reasoning behind the appraiser's final indicated value from the sales comparison approach.

C.     Reconciliation and Final Estimate of Value. The final step in the analyses and conclusions portion of the report is a narrative reconciliation or correlation of the estimates of value into a final estimate of value for the property rights appraised. When only one approach is used, the reconciliation will serve as:

        (1) A summary of the most pertinent data of that particular approach.

        (2) The appraiser's final conclusions to his/her opinion of market value.

        When correlating two or all three approaches, take into account the type of property in relation to the adequacy of the data presented in each approach. This summary will explain the strengths and weaknesses of each approach and influence the weight given to each one.

        Present the final estimate of value in a definite statement based on the most applicable approach(es).

D.     Certification and Signature. Each appraisal report must include a signed certification of the appraiser's final opinion of value indicating the effective date of the appraisal. The certification must make clear statements of valuation and disinterest similar in content to the following:

        As a result of my investigation and after careful consideration of the facts contained within this report, it is my unbiased opinion that the estimated value of the subject property, as of (Effective Date of Appraisal), the effective date of this report, is:

In this section, the appraiser should include those maps, plats, and photographs which are needed or of help in the valuation process and are in addition to those used in the body of the report to illustrate pertinent points. Also, such detailed data and information pertaining to the appraised property which is too long for the report body and may detract from total comprehension should be placed in this section. Some of the data included in this category may be:

A.     Subject Map. Proper identification of property boundaries in before and after conditions is required.

B.     Location Map.

C.     Comparable Sales Map(s). Include in here or in Part III. Functional and deeded boundaries of sales will be shown on a sales or area map(s) in a manner which allows a reader or reviewer to easily locate them "on the ground" during field inspections or reviews of the market area.

D.     Sale Data Forms. Include here or in Part III.

E.     Photos. Comparables and subject.

F.     Other Pertinent Data. This may consist of:

        (1) Property and vicinage statistical data.

        (2) Information for administrative or negotiative purposes.

        (3) Detailed soils descriptions.

        (4) Detailed county, State, and federal zoning ordinances (restrictions).

G.     Appraiser's Qualifications.

        (1) Professional experience.

        (2) Educational background and experience.

        (3) Professional memberships, accreditation, and certification.