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Oconee County Conservation Bank Board Agenda Page 1 of 1 November 19, 2019 A G E N D A OCONEE COUNTY CONSERVATION BANK BOARD November 19, 2019 9:00 AM Oconee County Administrative Offices Council Chambers, 415 South Pine Street, Walhalla, SC 1. Call to Order 2. Approval of Minutes September 17, 2019 Meeting 3. Treasurer’s Report [handouts provided] Community First Bank September 2019 October 2019 Local Government Investment Pool [State Pool] September 2019 October 2019 4. Discussion Items [to include Vote and/or Action on matters brought up for discussion, if required] Continued discussion regarding Alternate Funding Sources Discussion and/or action regarding Presentation to Oconee County Council 5. New Business Statement of Interest and Full Application from Estate of William C. Lyles TMS: 080-00-02-001 6. Old Business 7. Adjourn [This agenda is not inclusive of all issues which the board may bring up for discussion at this meeting.] There will not be any Public Comment session at this meeting.

A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

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Page 1: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

Oconee County Conservation Bank Board Agenda Page 1 of 1

November 19, 2019

A G E N D A OCONEE COUNTY

CONSERVATION BANK BOARD

November 19, 2019

9:00 AM Oconee County Administrative Offices

Council Chambers, 415 South Pine Street, Walhalla, SC

1. Call to Order

2. Approval of Minutes

September 17, 2019 Meeting

3. Treasurer’s Report [handouts provided]

Community First Bank

September 2019

October 2019

Local Government Investment Pool [State Pool]

September 2019

October 2019

4. Discussion Items [to include Vote and/or Action on matters brought up for discussion, if required]

Continued discussion regarding Alternate Funding Sources

Discussion and/or action regarding Presentation to Oconee County Council

5. New Business

Statement of Interest and Full Application from Estate of William C. Lyles

TMS: 080-00-02-001

6. Old Business

7. Adjourn

[This agenda is not inclusive of all issues which the board may bring up for discussion at this meeting.]

There will not be any Public Comment session at this meeting.

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Page 5: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective
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MooreFRPP

1

of

34.3acresofpastureonTwinOaksLaneWestminster,SC29693

OconeeCounty

PropertyofPeggyE.Moore

PreparedattheRequestofPeggyE.Moore

PreparedfortheUseof:

USDANRCS,theOconeeSoilandWaterConservationDistrict,theSouthCarolinaConservationBank,andPeggyE.Moore

EffectiveDateofAppraisal:May17,2018DateofAppraisalReport:June1,2018

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June1,2018PeggyE.MooreRe: ConservationEasementAppraisal,34.3acresofpastureonTwinOaksLane,PropertyofPeggyE.

Moore,OconeeCounty,SC.Atyourrequest,Ihavepreparedanappraisalreportonthesubjectproperty.Thesubjectpropertyincludes34.3acres,allofwhichwillbesubjecttoaUSDANRCSFarmandRanchlandProtectionProgram(FRPP)con-servationeasement.TheeffectivedateoftheappraisalisMay17,2018,thedateofthepropertyinspection.Theobjectiveofthisappraisalwastoestimatethevalueofthesubjectlandbeforeandaftertheeasement.Iestimatethevaluestobe:

ValuebeforetheEasement(marketvalue): $146,000ValueAftertheEasement(easement-constrainedvalue): $65,000ValueoftheEasement(difference): $81,000

Theappraisalisbasedontheareadelineatedbytheplats,aerialphotographs,deeds,andtaxthatarein-cludedaspartofthereport.ThisUSPAP-compliantappraisalhasbeenconductedintheformatoftheUni-formAppraisalStandardsforFederalLandAcquisitions(UASFLA—YellowBook).However,thisisnotafor-malYellowBookconservationeasementappraisal.ThepurposeofthisappraisalisonlytoestimateabeforeandaftereasementvaluefortheuseoftheUSDANRCS,theOconeeSoilandWaterConservationDistrict,theSouthCarolinaConservationBank,andPeggyE.Moore—thisisappraisaltobeusedfortheapplicationofaneasement.Theappraisalproceduresandscopeoftheappraisalareexplainedindetailinthebodyofthere-port.Iappreciateyourbusiness.Iftherearequestions,pleasedonothesitatetocall.Sincerely,HOLSTEINAPPRAISALSRichardH.HolsteinIV,P.E. CertifiedGeneralAppraiser SC5509|GA345673|NCA7477

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PART I: GENERAL DATA 3. TABLE OF CONTENTS PartI:GeneralData..........................................................................................................................4

3.TableofContents.........................................................................................................................44.Appraiser’sCertification......................................................................................................................65.SummaryofSalientFactsandConclusions.....................................................................................76.PhotographsofSubjectProperty.......................................................................................................77.StatementofAssumptionsandLimitingConditions....................................................................88.ScopeoftheAppraisal...........................................................................................................................99.PurposeoftheAppraisal....................................................................................................................1010.SummaryofAppraisalProblems...................................................................................................11

PartII–FactualData–BeforeEasement....................................................................................1111.LegalDescription................................................................................................................................1112.Area,City,andNeighborhoodData................................................................................................1613.PropertyData......................................................................................................................................19

PartIII–DataAnalysisandConclusions–BeforeEasement................................................2114.HighestandBestUse..........................................................................................................................2115.LandValuation....................................................................................................................................2216.ValueEstimatebyCostApproach..................................................................................................2217.ValueEstimatebySalesComparisonApproach........................................................................2218.ValueEstimatebytheIncomeCapitalizationApproach.........................................................2619.CorrelationandFinalValueEstimate(BeforeEasement)......................................................26

PartIV–FactualData–AfterEasement......................................................................................2720.LegalDescription...............................................................................................................................2721.NeighborhoodFactors......................................................................................................................2722.PropertyData.......................................................................................................................................28

PartV–DataAnalysisandConclusions–AfterEasement.....................................................2923.AnalysisofHighestandBestUse...................................................................................................2924.LandValuation....................................................................................................................................2925.ValueEstimatebytheCostApproach...........................................................................................3026.ValueEstimatebytheSalesComparisonApproach.................................................................3027.ValueEstimatebyIncomeCapitalizationApproach................................................................3228.CorrelationandFinalValueEstimate(aftereasement).........................................................32

PartVII–EasementAnalysis........................................................................................................3229.Recapitulation.....................................................................................................................................3230.AllocationandExplanationofDamages......................................................................................3331.ExplanationofSpecialBenefits.......................................................................................................33

PartVII–ExhibitsandAddenda..................................................................................................3432.LocationMaps.....................................................................................................................................3433.ComparableDataMaps.....................................................................................................................35

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34.DetailofComparativeSalesData...................................................................................................3535.PlotPlan...............................................................................................................................................6436.FloorPlans...........................................................................................................................................6437.TitleEvidenceReport.......................................................................................................................6438.OtherPertinentExhibits..................................................................................................................64

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4. APPRAISER’S CERTIFICATION I,RichardH.HolsteinIV,theundersignedappraiser,doherebycertify:1. Ipersonallyinspectedtheproperty,34.3acresofpastureonTwinOaksLane,belongingtoPeggyE.

Moore,whichisthesubjectofthisappraisalreport,andhaverenderedanopinionofmarketvalueandtheeasement-constrainedvalue.Ipersonallyinspectedallsalepropertiesthatwereaccessiblethatwereusedinthevaluationprocess.

2. Ihavenopresentorprospectiveinterestinthepropertythatisthesubjectofthisreportandhavenoper-

sonalinterestorbiaswithrespecttothepartiesinvolved.3. Ihavenopersonalinterestorbiaswithrespecttothesubjectpropertyoranyindividualwhodoeshave

suchinterests.4. Tothebestofmyknowledgeandbelief,thestatementsoffactinthisreport,uponwhichanalyses,opin-

ions,andconclusionsweremade,aretrueandcorrect.5. Mycompensationisnotcontingentonanactionoreventresultingfromtheanalyses,opinions,orconclu-

sionsin,ortheuseof,thisreport.6. Thisappraisalreportsetsforthallofthelimitingconditionsimposedbythetermsofourassignmentor

bytheundersignedaffectingtheanalyses,opinions,andconclusionscontainedinthisreport.7. Theanalyses,opinions,andconclusionsweredeveloped,andthisreporthasbeenprepared,inconform-

itywiththeUniformStandardofProfessionalAppraisalPractice.8. Nooneprovidedsignificantprofessionalassistancetothepersonsigningthisreport.9. Thisappraisalassignmentwasnotmade,norwastheappraisalrenderedonthebasisofarequestedval-

uation.Richard.H.HolsteinIVmadeapersonalinspectionoftheappraisedpropertythatisthesubjectofthisreportandallcomparablesalesusedindevelopingtheopinionofvalue.ThedateofinspectionwasMay17,2018,andthemethodofinspectionwasasitevisit.Inmyopinion,asofMay17,2018,themar-ketvalueofthelargerparcelbeforeconveyanceofthepartialinterestis$146,000.Themarketvalueofthelargerparcelafterconveyanceofthepartialinterestis$65,000.

10. Ihaveperformednopreviousworkonthesubjectpropertyforanyotherclient. Richard.H.Holstein,IV,P.E. CertifiedGeneralAppraiser SC5509|GA345673|NCA7477

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5. SUMMARY OF SALIENT FACTS AND CONCLUSIONS

Client(s): PeggyE.Moore LandOwner: PeggyE.Moore

IntendedUsers: USDANRCS,theOconeeSoilandWaterConservationDistrict,theSouthCarolinaConservationBank,andPeggyE.Moore

SubjectProperty: 32.55±Acres AcresinEasement: 32.55±AcresObjectiveofReport: ToEstimateConservationEasementValueIntendedUse: ConservationEasement PropertyRightsAppraised: SeeDiscussioninAppraisalReportHighestandBestUse: SeeReportValueEstimates

ValueBeforeEasement $146,000 ValueAfterEasement $65,000 EasementValue $81,000 EffectiveDateofAppraisal: May17,2018DateofAppraisalReport: June1,2018 Appraiser: RichardH.HolsteinIV

521 W Railroad Ave Batesburg-Leesville, SC 29006

803.532.3955 www.HolsteinAppraisals.com

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6. PHOTOGRAPHS OF SUBJECT PROPERTY RichardH.HolsteinIVtookallphotographsonJune7,2016,thedateofthepropertyinspection.Thephoto-graphsareinSection38oftheAddendum.

7. STATEMENT OF ASSUMPTI ONS AND LIMI TING CONDI TIONS Iassumethefollowing:1. Therearenohiddenorunapparentconditionsoftheproperty,subsoil,orstructuresthatrenderit

moreorlessvaluable.Noresponsibilityisassumedforsuchconditionsorforarrangingforengi-neeringstudiesthatmayberequiredtodiscoverthem.

2. Thereisfullcompliancewithallapplicablefederal,state,andlocalenvironmentalregulationsand

lawsunlessanonconformityhasbeenstated,defined,andconsideredinthisreport.3. Allapplicablezoninganduseregulationsandrestrictionshavebeencompliedwithunlessotherwise

noted.4. Noresponsibilityforthelegaldescriptionorformattersincludinglegalortitleconsiderations.Title

tothepropertyisassumedtobegoodandmarketableunlessotherwisestated.5. Responsibleownershipandcompetentpropertymanagement.6. Theinformationfurnishedbyothersisbelievedtobereliable.However,nowarrantyisgivenforits

accuracy.7. Allengineeringiscorrect.Theplotplansandillustrativematerialinthisreportareincludedonlyto

assistthereaderinvisualizingtheproperty.8. Allrequiredlicenses,certificatesofoccupancy,consents,orotherlegislativeoradministrativeau-

thorityfromanylocal,state,ornationalgovernmentorprivateentityororganizationhavebeenorcanbeobtainedorrenewedforanyuseonwhichthevalueestimatecontainedinthisreportisbased.

9. UseoftheappraisalislimitedtoUSDANRCS,theOconeeSoilandWaterConservationDistrict,the

SouthCarolinaConservationBank,andPeggyE.Mooreandtheirassigns.Theuseofportionsex-cerptedfromthecompletereportisprohibited.

10. Theappraiserisnotrequiredtogivetestimonyorappearincourtbecauseofhavingmadethisap-

praisalreportunlessarrangementshavebeenpreviouslymadetherefore.11. Unlessotherwisestated,theexistenceofhazardousmaterial,whichmayormaynotbepresenton

thesubjectproperty,wasnotobserved.Theappraiserisnotqualifiedtodetectsuchsubstances.Thevalueestimateispredicatedontheassumptionthatthereisnosuchmaterialonorinthepropertythatwouldcausealossinvalue.Noresponsibilityisassumedforanysuchconditions,orforanyex-pertiseorengineeringknowledgerequiredtodiscoverthem.Thisincludesanysubsurfacedamagedonebyundergroundfueltanksthatmayormaynotbephysicallypresentontheproperty.

12. Revenuestampsplacedondeedsasrequiredbylaw,instateswhereapplicable,accuratelyreflectthe

purchasepriceofproperties.

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13. Informationinthisreportisbasedonthebestsourcesavailabletotheappraiserandbelievedtobeaccurate;however,noresponsibilitycanbeassumedfortheresultsofactionsbyanyonebasedontheuseofthisinformation.

14. Anytimbervaluesorvolumesreportedinthisreportarebasedonvisualestimatesorlimitedsam-

plingunlessotherwisestated.Itisbeyondthescopeofthisappraisaltopreciselyestimatetimbervolumes.Ifsuchisrequired,Iwillobtaintheservicesofaqualifiedforester,providedsuitablear-rangementsforpaymentsaremade,incorporatesuchdataintothisappraisal,andmakeanyvalueadjustmentswhichmayresultfromsuchaninventory.

15. NohabitatsforspeciesprotectedundertheEndangeredSpeciesActexistonthesubjectproperty.

Theappraiserisnotqualifiedtoidentifysuchspeciesorsuchhabitatifsuchshouldexist.

8. SCOPE OF THE APPRAISAL

ThesubjectpropertyisaportionofalargerparcelthatwillbesubjecttoafederalFarmandRanchlandPro-tectionProgram(FRPP)conservationeasement.TheFRPPprogramisauthorizedin7CFR1491.Section1491.4(g)states:

Priortoclosing,thevalueoftheconservationeasementmustbeappraised.AppraisalsmustbecompletedandsignedbyaStatecertifiedgeneralappraiserandmustcontainadisclosurestatementbytheappraiser.TheappraisalmustconformtotheUniformStandardsofProfes-sionalAppraisalPracticesortheUniformAppraisalStandardsforFederalLandAcquisitions...

Inthisappraisal,IhaveusedtheformatoftheUniformAppraisalStandardsforFederalLandAcquisi-tions(UASFLA,“YellowBook”);however,IhaveconductedtheappraisaltoUSPAPstandards.Whendevelopinganopinionofvalueforaconservationeasement,theFRPPguidelinesspecifythefollowingmethodology:valueofsubjectbeforeeasement(A)-valueofsubjectaftereasement(B)=valueofeasement(C)

Ifrightsarelostbyvirtueoftheeasement,thentheserightsmustbevaluedincondition(A).Iftherightsarenotlostoraffectedbyvirtueoftheeasement,thenthereisnoneedtoassignvaluetotheserightsincondition(A),astheywouldsimplybesubtractedincondition(B)ifthereisnoenhancementordamagesotherwiseduetotheapplicationoftheeasement.Thecomponentvaluesbeforeandafterastheyrelatetothesubjectareshownthediagrambelow:

BeforetheEasement(A) � AftertheEasement(B)

Valueoftheland

� Valueoftheland(someoftheowner’srightstothelandarelost)�

Contributoryvalueofthetimber =� Contributoryvalueofthetimber(notimberrightsarelostthatwouldimpactvalueandtherearenomerchantabletimbervolumesontheproperty)

Contributoryvalueoftheexist-ingimprovements

= Contributoryvalueoftheexistingimprovements.Theeasementareacontainsnoimprovements,andthereisnoenhancementtotheadjacentimprovementsasdiscussedinthereport.

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First,Iestimatedthemarketvalueofthesubjectpropertywithitsexistingrights.Isoughtthemostcompara-blesalesofsimilartractsinOconeeCounty.Iusedseveralrealestatereportingservices,registersofdeeds,andtaxassessordata.Ifoundeightcomparablesales.Next,Iestimatedthevalueofthelandasifsubjecttotheeasement.Thebestindicationsofthevalueofthesubjectaftertheeasementaresalesofreasonablycomparablepropertieswithcomparableeasements.Ideally,thiswouldinvolvenearbysaleswithconservationeasementssimilartothatbeingproposedforthesubject.Inpractice,thisisnotusuallypossible.Instead,theappraisermustoftenusesalesofeasement-con-strainedlandswithawidevarietyoflandtypesandeasementtypesandadjustthesalesaccordingly.Thekeyconditionsandrestrictionsoftheproposedconservationeasementcanbefoundlaterinthisreport.Essen-tially,theeffectoftheproposedconservationeasementistorestrictsubdivisionanddevelopmentofthepropertysuchthatitcanbeutilizedfornohigherusethanagricultural.Ifoundsixcomparableeasementsales.

9. PURPOSE OF THE APPRAISAL PeggyE.MooredesirestoplaceaFRPPconservationeasementonthesubjectland.Thepurposeoftheap-praisalistoprovideanopinionofmarketvalue,asdefinedbelow,ofthesubjectpropertybeforeacquisitionoftheeasement(beforevalue)andanopinionofmarketvalueofthesubjectpropertyaftertheproposedeasementhasbeenplaced(aftervalue)asofacurrentdateofvalue. FUNCTION OF T HE APPRAISAL Thefunctionofthisappraisalistoassistintheapplicationoftheconservationeasement.RIGHTS APPRAISED First,Iestimatedthevalueofthefeesimplesurfacerightsofthesubjectlandbasedonits“asis”condition.Second,Iestimatedthevalueofthesubjectafterthelossofrightsduetotheapplicationoftheconservationeasement.INTENDED USERS TheintendedusersareUSDANRCS,theOconeeSoilandWaterConservationDistrict,theSouthCarolinaCon-servationBank,andPeggyE.Mooreandtheirassigns.Allothersareconsideredunintendedusers.DEFINIT ION OF VALUE1 MARKETVALUEisthemostprobablepricewhichapropertyshouldbringinacompetitiveandopenmarket

underallconditionsrequisitetoafairsale,thebuyerandsellereachactingprudentlyandknowledgea-bly,andassumingthepriceisnotaffectedbyunduestimulus.Implicitinthisdefinitionistheconsumma-tionofasaleasofaspecifieddateandthepassingoftitlefromsellertobuyerunderconditionswhereby:

(a) Buyerandselleraretypicallymotivated; (b) Bothpartiesarewellinformedorwelladvised,andactinginwhattheyconsidertheirownbestinterests;

1UniformStandardsofProfessionalAppraisalPractice,2003ed.(Washington,D.C.:AppraisalFoundation2003),p.3.

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(c) Areasonabletimeisallowedforexposureintheopenmarket; (d) PaymentismadeintermsofcashinU.S.dollarsorintermsoffinancialarrangementscomparablethereto;

and (e) Thepricerepresentsthenormalconsiderationforthepropertysoldunaffectedbyspecialorcreativefinanc-

ingorsalesconcessionsgrantedbyanyoneassociatedwiththesale (f) ThevalueisnotbasedondistressedsalesJURISDICT IONAL EXCEPT IO N AsthisisaUSPAP-compliantappraisalandnotaUASFLA-compliantappraisal,nojurisdictionalexceptionisrequired.

10. SUMMARY OF APPRAISAL PROBLEMS Iencounterednoproblemsthatwouldweakenmyconfidenceinthefinalopinionofvalue.

PART II–FACTUAL DATA–BEFORE EASEMENT 11.LEGAL DESCRIPTION Atypicalconservationeasementmustconsidereitherthelargerparcel(ifusingUASFLAguidelines)ortheentirecontiguousparcel(ifusingIRSguidelines)whenpreparingaconservationeasementappraisal.Thesetwoconditionsaresimilar,butslightlydifferentasexplainedinthefollowingsections.

LARGER PARCEL DETERMINAT ION-UASFLA GUIDELINES Inaformaleasementappraisal,theUASFLAguidelinesrequirethedeterminationofthe“largerparcel”whenevaluatingconservationeasements.Theexplanationisshownbelow:

11.PartialAcquisitions.WhentheUnitedStatesacquiresonlypartofaunitaryholding,federallawrequiresthatcompensationbemadenotonlyforthepropertyinterestacquired,butalsoforthediminu-tion,ifany,inthevalueoftheremainderdirectlycausedbytheacquisitionand/orbytheusetowhichthepartacquiredwillbeput.Thisdiminutioninthevalueoftheremainderisoftenand“somewhatloosely”referredtoasseverancedamage.Whentheremainderisspeciallybenefitedasaresultofthegovernment’sproject,thevalueoftheremainderwillreflectthatfact,whichwillresultinalesseningofthecompensationpaidtothelandowner.Itisessentialtoapartialtakingandtotheapplicationoftherulesonseverancedamagesandspecialbenefitsthatthelandacquiredbepartofaunitaryholding(a“whole”),commonlyreferredtoasthelargerparcel.Itisoftendifficulttodeterminewhatconstitutesthewholepropertycomprisingthepartacquiredandtheremainder,inparticularwhentherearevastacreagesornon-contiguousparcelsinvolved.Becauseofthisdifficulty,testshavebeenestablishedtodeterminethelargerparcel.First,theremustbeaunityofownershipinallpartsofthewhole.Second,theremustbeaunityofhighestandbestuseforallpartsofthewhole2.

2UniformAppraisalStandardsforFederalLandAcquisitions(UASFLA)

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UN I T Y O F OW N E R S H I P

Unityofownershipistypicallyunderstoodtomeanthatthepropertiesmustbeunderthesameownership.However,thisrulehasbeeninterpretedinseveralwayswheretheownermayownseveralcompanieseachowningseparateparcelsthathaveaunityofuseandthereforeconstitutealargerparcel.Generally,theown-ershipmustbethesame.

UN I T Y O F H I G H E S T A N D B E S T US E

Thehighestandbestuseofapropertymaydependontheuseofanadditionallot.Asupermarketwithaparkinglotlocatednextdoorbutnotpartofthecombinedlotoralumbermillintownandawoodlotseveralmilesawayprovidingthematerialforthemillareclassicexamples.Ingeneral,allcontiguousfamilyownedproperty,whethertheparcelshavethesamehighestandbestuseornot,mustbeappraised.Inaddition,theappraisalmustseparatelytakeintoaccountANYproperty(notjustcontiguous)thathasanincreaseinvaluewhichiseitherownedbythedonorORtheowner’simmediatefam-ily.However,forFRPPappraisalsonagriculturalproperties,itisexceedinglyrarefornon-contiguousparcelstohaveaunifiedhighestandbestusethatwouldbeaffectedbytheapplicationoftheeasementtoaportionofthewhole.ENTIRE CONTIGUOUS PARCEL DETERMINATION—IRS GUIDELINES ForUSPAP-compliantconservationeasementappraisals,theIRShassimilar,butslightlydifferentrulesfordeterminingenhancementordiminutionofnon-easementpropertiesunderthesameownership.TheIRScallsthisthe“entirecontiguousparcel:”

TreasuryRegulation26CFRSection1.170A-14(h)(3)(i)Theamountofthedeductioninthecaseofacharitablecontributionofaperpetualconservationre-strictioncoveringaportionofthecontiguouspropertyownedbyadonorandthedonor’sfamily(asde-finedinsection267(c)(4))isthedifferencebetweenthefairmarketvalueoftheentirecontiguouspar-celofpropertybeforeandafterthegrantingoftherestriction.

TheInternalRevenueServiceCodedefinesthedonor’sfamilyasfollows:

Thefamilyofanindividualshallincludeonlyhisbrothersandsisters(whetherbythewholeorhalfblood),spouse,ancestors,andlinealdescendants.

Therefore,inordertocomplywithtreasuryregulations,anappraisermustappraisetheproposedeasementtractaswellasanycontiguouspropertiestowhichthetestoffamilystatusismet.Thetreasuryregulationsalsoprovideforthereductionintheamountofacontributionwhenaparcelownedbyafamilymemberorarelatedpartybenefitsfromthedonationoftheeasement:

IfthegrantingofaperpetualconservationrestrictionafterJanuary14,1986,hastheeffectofincreas-ingthevalueofanyotherpropertyownedbythedonororarelatedperson,theamountofthedeductionfortheconservationcontributionshallbereducedbytheamountoftheincreaseinthevalueoftheotherproperty,whetherornotsuchpropertyiscontiguous.

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LARGER PARCEL/ENT IRE CO NTIGUOUS PARCEL ANALYSIS FOR THE SUBJECT PROPERTY Theprimaryreasonforbothofthesemethodsistodetermineandcaptureanyenhancement(ordiminution)ofvaluetonon-constrainedlandsbyvirtueoftheeasementwhenclaimingeithercompensation(UASFLA)ordonationvalue(USPAP-IRS).Thesubjectpropertyandproposedareaareinthefollowingmap.

Theeasementareaisinyellowandcontains32.55acres.Thenon-easementareaofthesubjectparcelisshadedinred.Itcontainstworesidencesin4.25acres.Theadjacent36.8-acreparceltothewestispropertyoftheowner’ssisterandmeetstheentirecontiguousparcelrequirementfortheIRS.Therefore,byIRSguide-lines,theentirecontiguousparcelwouldincludethefollowingtaxmapnumbersandacreages:

Easement Area(32.55 acres)Easement Area(32.55 acres)

Excluded area(4.25 acres)Excluded area(4.25 acres)

Extra area due toentire contiguous parcel rules(36.8 acres)

Extra area due toentire contiguous parcel rules(36.8 acres)

Parcel ID Acres Owner290-00-04-080 2.481 Moore, Peggy E290-00-04-010 34.318 Moore, Peggy E290-00-04-029 36.8 Moore, Mahala J etal

73.599

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Whichwouldindicatea73.6-acreentirecontiguousparcelwith32.55acresbeingproposedforaconserva-tioneasement.Thisentire73.6-acreparcelisoutlinedinredonthemap.However,thepurposeoftheentirecontiguousparcelconceptistocaptureanyenhancement(increaseinvalue)ordiminution(decreaseinvalue)duetotheapplicationoftheconservationeasement.Thiscanonlybeproveddefinitivelybycomparablesalesanalysisofadjacentandnon-adjacentparcelstoeasement-con-strainedlands.Thisdataissometimesavailableinmoredevelopedareasbutisnotgenerallyavailableinru-ralareaslikethesubjectproperty.ThesubjectliesinaruralportionofOconeeCounty(Oakway)thatisbe-tweenFairPlay,Seneca,andWestminster,SCthathasseennoconcentrateddevelopmentandisprimarilycharacterizedbycattlefarmingandpoultryfarmingwithscatteredruralresidences.Theaerialphotographbelowencompassesapproximately16squaremilesaroundthesubjectpropertyandillustratestheruralna-tureofthearea.Over8poultryfarmsarevisibleinthephoto,withmostofthelandinlivestockandwood-landusagewithsmallpocketsofruralresidentialdevelopment.

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Ihavespokenwithrealtorsinthearea,andtherearenosubdivisionsormajordevelopmentsplannedforthearea(orlikely)intheforeseeablefuture.ThereareseveralfarmswithFRPPconservationeasementsinOconeeCounty(Ihavepersonallyappraisedover20),butIhaveseennoindicationthatpropertiesadjacenttotheseareassellforapremiumoverpropertiesnotadjacenttotheseareas.Therefore,inmyopinion,therewouldbenomeasurableenhancementtotheotherelementsoftheentirecontiguousparcel.Basedonthisdetermination,thepropertyasappraisedwouldbethe32.55-acreeasementareaonly.FINAL LEGAL DESCRIPT IO N Thereisnotyetaformalsurveyorlegaldescriptionofthesubjectproperty.Forthepurposesofthisap-praisal,thesubjectispropertyisdefinedbythefollowingtaxmapparcelsandacreagesandmap:

Subject Property(32.551 ac)Subject Property(32.551 ac)

ExcludedExcluded

Parcel ID Acres Owner290-00-04-080 2.481 Moore, Peggy E290-00-04-010 34.318 Moore, Peggy E

36.799Excluded area -4.248

Subject Property 32.551

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12.AREA, CITY, AND NEIGHBORHOOD DATA OCONEE COUNTY DEMO GRAPHICS3 Countypopulationin2016:76,355(35%urban,65%rural);itwas66,215in2000Countyowner-occupiedwithamortgageoraloanhousesandcondosin2010:12,633Countyowner-occupiedfreeandclearhousesandcondosin2010:10,409Countyowner-occupiedhousesandcondosin2000:21,380Renter-occupiedapartments:7,634(itwas5,903in2000)%ofrentershere: 22%State: 31%Landarea:625sq.mi.Waterarea:48.2sq.mi.Populationdensity:122peoplepersquaremile(average).Mar.2016costoflivingindexinOconeeCounty:82.7(low,U.S.averageis100)Industriesprovidingemployment:

Professional,scientific,management,administrative,andwastemanagementservices(31.7%),Educational,healthandsocialservices(13.6%).

Typeofworkers:

Privatewageorsalary:63%Government:3%Self-employed,notincorporated:32%Unpaidfamilywork:1%

RacesinOconeeCounty,SouthCarolina:

WhiteNon-HispanicAlone(84.9%)BlackNon-HispanicAlone(7.2%)HispanicorLatino(5.0%)Twoormoreraces(1.9%)Asianalone(0.7%)

Estimatedmedianhouseholdincomein2016:Thiscounty: $43,743SouthCarolina: $49,501Mediancontractrentin2016forapartments:$483(lowerquartileis$385,upperquartileis$719)Thiscounty: $483State: $653Estimatedmedianhouseorcondovaluein2016:$152,200(itwas$79,700in2000)Oconee:$152,200SouthCarolina: $153,900Percentageofresidentslivinginpovertyin2016:

3U.S.CensusBureau.

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OconeeCounty: 15.5%SouthCarolina: 15.3%(13.9%forWhiteNon-Hispanicresidents,16.8%forBlackresidents,35.7%forHispanicorLatinoresidents,39.7%forotherraceresidents,27.8%fortwoormoreracesresidents)Housingunitsinstructures:

One,detached:26,641One,attached:767Two:6353or4:1,3045to9:68710to19:1,02520ormore:328Mobilehomes:8,037

Numberofgrocerystores:13OconeeCounty: 1.84/10,000pop.State: 1.99/10,000pop.Numberofsupercentersandclubstores:1Here: 0.14/10,000pop.SouthCarolina: 0.15/10,000pop.Numberofconveniencestores(withgas):31OconeeCounty: 4.39/10,000pop.SouthCarolina: 5.38/10,000pop.Numberoffull-servicerestaurants:46Thiscounty: 6.51/10,000pop.State: 7.75/10,000pop.Adultdiabetesrate:OconeeCounty: 11.1%SouthCarolina: 10.6%Adultobesityrate:OconeeCounty: 28.6%State: 29.4%Low-incomepreschoolobesityrate:Here: 16.7%State: 13.4%AgricultureinOconeeCounty:Averagesizeoffarms:89acres

Averagevalueofagriculturalproductssoldperfarm:$64,234Averagetotalfarmproductionexpensesperfarm:$48,827Harvestedcroplandasapercentageoflandinfarms:21.92%

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Irrigatedharvestedcroplandasapercentageoflandinfarms:2.91%Averagemarketvalueofallmachineryandequipmentperfarm:$28,820Thepercentageoffarmsoperatedbyafamilyorindividual:96.01%Averageageofprincipalfarmoperators:54yearsAveragenumberofcattleandcalvesper100acresofalllandinfarms:25.31Milkcowsasapercentageofallcattleandcalves:1.55%Cornforgrain:410harvestedacresAllwheatforgrain:894harvestedacresUplandcotton:49harvestedacresSoybeansforbeans:1055harvestedacresVegetables:96harvestedacresLandinorchards:1,300acres

LOCAL MARKET CO NDIT IONS

UN C ON S TR A I N E D AG R I C U L TU R A L SA L E S

Thesubjectisprimarilyactivepasture.TheAugust2017USDAannualfarmlandsurvey4indicatesthatpas-turepricesinSChaveremainedrelativelyunchangedsince2014:

PasturevaluesinOconeeCountytendtobesomewhathigherthanthestatewideaveragevalues;therefore,IusedsalesfromOconeeCountyandnearbyportionsofAndersonCountythatoccurredin2014orlateranddidnotadjustthemfortime.

CON S TR A I N E D S A L E S

Aftertheeasementhasbeenapplied,differentmarketforcesareatplay.Withtheeasementinplace,thesub-jectbecomesanagriculturalpropertywithnopotentialformovingtoahigherandbetteruse.AsFRPP-encumberedpropertiestendtobefamilyfarms,therehavebeenveryfewsalesofFRPP-constrainedproper-tiesinthepastfouryears.Recreationalbuyershaveallbutdisappearedaslendingforthistypeofusehasbeencurtaileddramatically.Mosteasementsalestendtobewoodlandusedforrecreation(huntingandfish-ing)andIwasforcedtousesalesofsomeeasement-encumberedlandthatwasnotfarmland.Considerableappraisaljudgmentwasrequiredtoadjustthesesales;however,themajorityoftheeasementsaleswereei-therFRPPsalesorsaleswithagriculturaluseeasementsverysimilartoFRPPeasements.

4“LandValues:2017Summary,”USDANationalAgriculturalStatisticsService,August2017,ISSN:

1949-1867.

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13. PROPERTY DATA SITE

LOC A TI ON A N D S I Z E

ThesubjectislocatedinsouthernOconeeCounty,SCintheOakwayareaonthenorthwestsideoftheinter-sectionofSnowCreekroadandSC24(WestOakHighway)andcontains32.55acres,allofwhichwillbesub-jecttotheconservationeasement.

SOI L S A N D TOP OG R A P H Y

Thesitehasanirregularshape,buttheshapedoesnotaffecttheutilityofthelandsignificantly.Thetopogra-phyconsistsprimarilyofundulatingtoslightlyrollingpasturewithasmallareaofwoodlandinthenorthernpropertycorner.

FIGURE1.SOILSMAPThesoilsareprimarilyLloydsandyloamfrom2%to25%slopes.Lloydsandyloamcanbefoundonawidevarietyofslopes.Theseverityofslopesgenerallydetermineslanduse.Itisawell-drainedsoilwithloamyandclayeysubsoils.Itissuitableforcropsinitsmostlevelstate.Permeabilityismoderateormoderatelyslowanderosionhazardissevere.Itissuitedforhardwoodsandpines.Mechanicalreforestationandhar-vestingoperationsarenotrestrictedexceptduringwetperiods.Whenslopesexceed15%,loggingroadsshouldbeoncontourandincorporatewaterdiversionstopreventerosion.AfullsoilsmapandlandusehistoryareintheAddendum.

UTI L I T I E S

Electricalserviceandtelephoneareavailable.

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LA N D US E A N D B R E A K D O W N

Thesubjectpropertyisprimarilyinpasture.Thelandusebreakdownfollows:

FOR E S T PR OD U C TS

Theonlytimberconsistsofasmallareainthenorthernportionofthetractwithnomerchantableorpre-mer-chantablevolumestoconsider.

M I N E R A L R I G H TS A N D SU R F A C E WA TE R S

Mineralrightsandsurfacewaterrights(includingirrigationwaterrights)arenoteconomicconsiderationsinthisareaandwerenotconsideredintheappraisalprocess.IMPROVEMENT S

B U I L D I N G I M P R OV E M E N TS

Thesubjectisunimproved

LA N D I M P R OV E M E N TS

Theonlylandimprovementsarepasturefencing,whichisnotconsideredseparatefromthelandinpasturetracts.Thereisalsoawatersupplywell,butastheapplicationoftheeasementhasnoeffectonvalue,Ididnotconsiderthecontributoryvalueofthewellinthecalculations.FIXTURES Therearenofixturestobeconsidered.USE HISTORY Thepropertyhasbeeninfarm(pasture)useformanyyears.SALES HISTORY Therehavebeennosalestransactionsofthesubjectpropertyinthepreviousfiveyears.RENTAL HIST ORY Thepropertyisnotbeingleased.ASSESSED VALUE AND ANNUAL TAX LOAD TheOconeeCountyAssessor’staxinformationdataforthesubjectparcelsmayisintheAddendum.

Land Type AcresCroplandPasture/open 30.1Upland woodland 2.5Low woodland/wetlandBuilding sitesPonds

32.55

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ZONING AND OT HER LAND USE REGULATIONS Thecountyisdividedintobasezoningdistrictsthatdefinetheirownzoningboundaries.Thesubjectprop-ertyliesintheOakwayDistrictbutisinaControlFreeDistrict(unzoned)untilzoningisrequestedbylocalcitizens.

H A Z A R D S A N D D E TR I M E N TS

Environmentalconsultingwasnotpartofthescopeofthisappraisal,andIdidnotinvestigatetheexistenceofenvironmentalhazardsonthesubjectorsurroundingproperties.WhileIobservednothingonthesubjectthatwouldleadmetosuspectahazardouscondition,non-disclosureshouldnotbetakenasanindicationthatsuchaproblemdoesnotexist.Anexpertinthefieldshouldbeconsultedifanyinterestedpartyhasquestionsonenvironmentalfactors.

E A S E M E N TS

Iwasnotabletoreviewthedeed.Theplatindicatednointernalorexternaleasements.AcopyoftheplatisintheAddendum.

WE TL A N D S

NoportionofthepropertyappearsontheNationalWetlandsInventory(NWI)orhassoiltypestypicallyin-dicativeofwetlandareas.

FL O OD Z ON E

ThesubjectliesonFEMAFIRMPanel45073C041C9/11/2009.Noportionofthesubjectpropertyappearsinthe100-yearfloodzone.

E N C U M B R A N C E S

SinceIamnotqualifiedtorendertitleopinions,Icannotidentifyanyandallencumbrancesthatmaybeaf-fixedtothisproperty.Icanonlydealwiththemifsuchevidence,knowledge,orinformationisprovided.Iknowofnoencumbrancesoreasementsintheasiscondition.

PART III–DATA ANALYSIS AND CONCLUSIONS–BEFORE EASEMENT 14. HIGHEST AND BEST USE Highestandbestuseisthatusewhichresultsinthemostefficientand/orprofitableuse.Itmustpassthefourtests:

CRITERIAFORHIGHESTANDBESTUSE

LegallyPermissiblePhysicallyPossibleFinanciallyFeasibleMaximallyProductive

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LEGALLY PERMISSIBLE Afirstconsiderationincontemplatingpotentialuseiswhethertheuseislegal.Thefirstlegalconsiderationistypicallyzoning.ThesubjectliesinanunzonedareaoftheCounty.NoportionofthepropertyliesintheFEMAfloodzoneandnoportionofthepropertyisinpotentialwetlandareas.PHYSICALLY POSSIBLE Therearenomajorphysicallimitationsbeyondsizeandshape.Therearesomeslightlimitationsduetoslopeinsomeareas.FINANCIALLY FEASIBLE/MOST PRO DUCTIVE Thesubjectliesinaruralareawheremuchofthelandinthemarketareaisinagriculturalproduction(cattleandpoultry).Theareaisgenerallytoohillyforrowcropping.Subdivisionanddevelopmentarenotcur-rentlyfeasibleinthesubjectmarket.Thetractistooremoteformostnon-agriculturalcommercialuses.HIGHEST AND BEST USE Inmyopinion,maximallyproductiveandthereforethehighestandbestuseofthesubjectpropertywouldbethecurrentuse—agricultural(pasture).Itwouldalsobeasuitableruralhomesiteorhobbyfarm.

15. LAND VALUATION Thesubjectisapasturetractlocatedinaruralareasurroundedbysimilaragriculturaltractswithscatteredruralhomesites.Adetaileddiscussionofthelandfollowsinthesalescomparisonapproach.

16. VALUE ESTIMATE BY COST APPROACH Thecostapproachwasnotusedsincethepropertyisunimproved.

17. VALUE ESTIMATE BY SALES COMPARISON APPROACH SELECT ION AND ANALY SIS O F CO MPARABLE SALES IsearchedforcomparablesalesofagriculturaltractsinOconeeCountyforcomparisontothesubjectproper-ties.Allagriculturalsalesoccurredwithintheprevious38months,inthetimeperiodthatUSDAagriculturalstatisticsindicatethatpasturepricesinSCsawverylittlechange(since20145);therefore,therewasnorea-sontoadjustpricesfortime.Thetablebelowisabriefsummaryofthesales.FullsalesinformationsheetsmaybefoundintheAddendum.

5“LandValues:2017Summary,”USDANationalAgriculturalStatisticsService,August2017,ISSN:

1949-1867.

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STATIST ICAL ANALYSIS O F SALES TO PRODUCE COMPONENT LAND VALUES Todeterminethedifferentialcontributoryvaluesofthelandcomponents(aftertimbervalueandanyim-provementsvalueshavebeenextractedfromthecomparablesales)Iusedastatisticalversionofthepairedsalescomparisontechnique.Inthisstatisticalmethod,Ianalyzedthecomparablesalepropertiesanddevel-opedanoverallstandarddeviation.Ithenadjustedtherelativevaluesofthelandcomponentsuntiltheover-allstandarddeviationwasminimized.Thisbecomes,ineffect,astatisticalanalysisofthemarketsamplewithmathematicallyadjustedcomponentlandpricesthatreflectthestatistical,differentialvaluespaidforlandcategorytypesinthemarketplace—i.e.statisticalversionofpairedsalesanalysisformarketpricesforlandcomponents.Thestatisticalanalysisofthecomparablesalesappearsbelow.DetailedcomparablesalessheetsareintheAddendum.

Sale County Sale Date Sale Price Acres$/Acre (gross)

Est. Improv.

Value

Est. Timber value

$/Bare Land Acre

Pasture/ Open acres

Woodland/ Other Acres

1 Oconee 5-Feb-18 $240,000 48 $5,030 $0 $0 $5,030 44 472 Oconee 25-Feb-16 $140,000 38 $3,647 $0 $0 $3,647 16 383 Oconee 14-Jul-15 $127,500 30 $4,250 $0 $0 $4,250 27 304 Oconee 6-Apr-15 $191,500 48 $4,000 $0 $19,200 $3,599 16 485 Oconee 7-Jun-17 $199,500 49 $4,071 $0 $0 $4,071 21 496 Oconee 12-May-15 $140,000 40 $3,493 $0 $8,100 $3,291 18 407 Oconee 20-May-15 $68,000 20 $3,345 $0 $0 $3,345 11 208 Oconee 1-Nov-17 $252,100 68 $3,733 $0 $0 $3,733 28 68

Sale I II III IV V VIOverall

per acre Land Value

Subjective adj. from sales grid I II III IV V VI

1 Powell, Amanda $5,182 $5,182 $3,369 $2,591 $5,182 $6,219 $5,030 $240,000 0% 0.0 44.2 0.0 3.0 0.0 0.52 Burton, Phillip A $4,589 $4,589 $2,983 $2,294 $4,589 $5,507 $3,647 $140,000 0% 0.0 16.3 21.1 1.0 0.0 0.03 Gambrell, Elijah $4,431 $4,431 $2,880 $2,215 $4,431 $5,317 $4,250 $127,500 0% 0.0 26.5 3.5 0.0 0.0 0.04 Grant, Michael and Jimmy $4,692 $4,692 $3,050 $2,346 $4,692 $5,630 $3,599 $172,300 0% 0.0 16.0 31.9 0.0 0.0 0.05 Hestir, William, etal. $5,112 $5,112 $3,323 $2,556 $5,112 $6,135 $4,071 $199,500 0% 0.0 20.5 28.5 0.0 0.0 0.06 Stovall, Lindsay D $4,485 $4,485 $2,915 $2,242 $4,485 $5,382 $3,291 $145,090 10% 0.0 18.0 22.1 0.0 0.0 0.07 Wilbanks, Phillip L $3,952 $3,952 $2,569 $1,976 $3,952 $4,743 $3,345 $68,000 0% 0.0 11.4 8.9 0.0 0.0 0.08 Hubbard, David G $4,688 $4,688 $3,047 $2,344 $4,688 $5,626 $3,733 $252,100 0% 0.0 28.2 39.3 0.0 0.0 0.0

Mean: $4,641 $4,641 $3,017 $2,321 $4,641 $5,570 $3,871 0 181 155 4 0 1% STD: 8.4% 8.4% 8.4% 8.4% 8.4% 8.4% 14.8%

Relative Value: 100% 100% 65% 50% 100% 120%

I CroplandII Pasture/openIII UplandwoodlandIV Lowwoodland/wetlandV BuildingsitesVI Ponds

LandTypeCategoryDefinitions

Acres by Category in SaleWeighted Land Type Category Value

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Thesedataindicatethatwhenthebarelandpricesofallsalesarenotbrokendownintocomponentlandcate-gories,thestandarddeviationoftheaverageoverallpriceperacreis14.8%ofthemean.Whenthelandofeachcomparablesaleisbrokendownintocropland,generalopenland,uplandwoodland,lowlandwoodland,buildingsites,andpondsandtherelativevaluesareadjustedasshowninthetable,theoverallstandarddevi-ationofthesamplereducesto8.4%,indicatingthattherelativecomponentvalueshavestatisticalsignificanceacrossthesampleofthesalesshown.SALES GRID

QU A N TI TA TI V E AD J U S TM E N T M E TH OD OL OG Y

Tomakeappropriatecomparisons,Iconsideredthefollowingfromeachlandsale:propertyrightsconveyed,financingterms,conditionofsale,marketconditions,landqualityanduse,landimprovements,buildingim-provements,andtimber.

AnalysisandComparisionofSalesSale SUBJECT Sale1 Sale2 Sale3 Sale4 Sale5 Sale6 Sale7 Sale8

BuyerPowell,Amanda

Burton,PhillipA

Gambrell,Elijah

Grant,MichaelandJimmy

Hestir,William,etal.

Stovall,LindsayD

Wilbanks,PhillipL

Hubbard,DavidG

SellerPowell,James,

etal.Wilson,Emily

BTreadaway,Michael

Mize,JuanitaL

Ridgeway,LynnMetal. Lyles,BettyH

Bennett,BillyG

England,BMJr.(estate)

County Oconee Oconee Oconee Oconee Oconee Oconee Oconee OconeeSaleDate 2/5/2018 2/25/2016 7/14/2015 4/6/2015 6/7/2017 5/12/2015 5/20/2015 11/1/2017Price $240,000 $140,000 $127,500 $191,500 $199,500 $140,000 $68,000 $252,100LandAcres 32.55 47.71 38.39 30 47.88 49 40.08 20.33 67.54Est.TimberContribution* $0 $0 $0 $0 $19,200 $0 $8,100 $0 $0Est.Impr.Contribution $0 $0 $0 $0 $0 $0 $0 $0 $0Leases,contracts $0 $0 $0 $0 $0 $0 $0 $0 $0Est.Barelandvalue $240,000 $140,000 $127,500 $172,300 $199,500 $131,900 $68,000 $252,100Est.Barelandvalue/acre $5,030 $3,647 $4,250 $3,599 $4,071 $3,291 $3,345 $3,733

Cropland Pasture/open 30.05 44.2 16.3 26.5 16.0 20.5 18.0 11.4 28.2Uplandwoodland 2.5 21.1 3.5 31.9 28.5 22.1 8.9 39.3Lowwoodland/wetland 3.0 1.0 Buildingsites Ponds 0.5

Grosspriceperacre $5,030 $3,647 $4,250 $4,000 $4,071 $3,493 $3,345 $3,733LandQuality/use $13 $819 $62 $967 $903 $677 $501 $830TimberAdjustment $0 $0 $0 -$401 $0 -$202 $0 $0Improvements $0 $0 $0 $0 $0 $0 $0 $0Leases/contracts $0 $0 $0 $0 $0 $0 $0 $0

Adjustedper-acrevalue: $5,043 $4,466 $4,312 $4,566 $4,975 $3,967 $3,846 $4,562

Time,conditionsofsaleLocation,access,frontage 10.0%SizeCondition,TopographyOther

Total%Adjustments: 0.0% 0.0% 0.0% 0.0% 0.0% 10.0% 0.0% 0.0%

IndicatedValue/acre $5,043 $4,466 $4,312 $4,566 $4,975 $4,364 $3,846 $4,562

MeanValueIndication: $4,517StandardDeviation: $380 8% ofthemean

MedianValue: $4,514Selectedper-acrevalue: $4,500

IndicatedValue: $146,475

SalesInformation

LandUse

Inform

ation

(acres)

Quantitative

Adjustments

($/acre)

Subjective

Adjustments

(%)

FinalAnalysis

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PR O P E R TY R I G H TS CO N V E Y E D

Allofthesalesconveyedfeesimpletitle;therefore,noadjustmentswererequired.

CO N D I TI O N O F S A L E

Allofthesaleswereconsideredtobearm’slength;therefore,noadjustmentswererequired.

M A R K E T CO N D I T I O N S (T I M E)

Basedonthemarketdatadiscussionearlierinthisreport,noadjustmentsfortimewereconsideredneces-sary.

LA N D QU A L I TY A N D US E

Saleswereadjustedforlandqualityandusebasedonthedifferentialvaluesofcropland,openland,uplandwoodland,lowlandwoodland,andpondsdeterminedviathestatisticalanalysisdiscussedearlier.

LA N D I M P R O V E M E N TS

Iestimatedthecontributoryvalueofanylandimprovementsandextractedthevaluefromeachsaleproperty.Thecontributoryvalueofthesubjectlandimprovementswasbasedonthecost-depreciationanalysisshownpreviously.

B U I L D I N G I M P R O V E M E N TS

Theestimatedimprovementvaluesonthesalepropertieswerebasedonacursoryexteriorinspectionandtaxassessordataonly.Quantitativeadjustmentswerethenconvertedtoaper-acrebasisandextracted.

TI M B E R

Timbervalueswereextractedfromthecomparablesalesbyusingtheestimatedtimbervalueeitherobtainedfromaforesterinvolvedinthesaleorbasedonvisualinspectionandanalysisofinfraredandcoloraerialphotography.Thecontributorytimbervalueforthesubjectisbasedonqualitativeanalysisofthecompara-blesalesonlyandisnotmeanttobeastumpageorseparatetimbervalue.Adjustmentsweremadeonaper-acrebasisinthesalesgrids.

SU B J E C TI V E AD J U S TM E N T M E TH OD OL OG Y

Sale6wasadjustedupward10%foritsmoreremotelocation.Noadditionalsubjectiveadjustmentswererequired.CONCLUSION Afteradjustments,themeanpriceonaper-acrebasiswas$4,517andthemedianvaluewas$4,514.Thestandarddeviationwas$380peracre,or8%ofthemean.Basedonthisanalysis,Iselectedavalueof$4,500peracreforanindicatedvalueof$146,475,roundedto$146,000.

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LOCATION MAP O F SUBJECT AND SALE PROPERTIES

FIGURE2.SUBJECTISBLUEWITHTHEBLUEMARKER

18. VALUE ESTIMATE BY THE INCOME CAPITALIZATION APPROACH Asthepropertywouldnotlikelybepurchasedpurelyforincomeproduction,theincomeapproachwasnotused.

19. CORRELATI ON AND FINAL VALUE ESTIMATE (BEFORE EASEMENT) Thesalescomparisonapproachwastheonlyviableapproachtovaluation;therefore,thefinalvalueestimatebeforetheapplicationoftheeasementisthesalescomparisonapproachestimateof:

OneHundredForty-SixThousandDollars

($146,000).

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PART IV–FACTUAL DATA–AFTER EASEMENT 20. LEGAL DESCRIPTION Thelegaldescriptionofthewholepropertywillnotchangeaftereasementwiththeexceptionoftheease-mentrestrictions.THE FARM AND RANCH LAND PRO TECTION PROGRAM (FRPP) CONSERVATION EASEMENT TheFarmandRanchLandProtectionProgram(FRPP)wasestablishedunder7CFRPart1491andprovidesmatchingfundstohelppurchasedevelopmentrightstokeepproductivefarmandranchlandinagriculturaluses.Workingthroughexistingprograms,USDApartnerswithState,tribal,orlocalgovernmentsandnon-governmentalorganizationstoacquireconservationeasementsorotherinterestsinlandfromlandowners.USDAprovidesupto50percentofthefairmarketeasementvalueoftheconservationeasement.Toqualify,farmlandmustbe,orhave:

• PartofapendingofferfromaState,tribe,orlocalfarmlandprotectionprogram• Beprivatelyowned;• Aconservationplanforhighlyerodibleland• Largeenoughtosustainagriculturalproduction• Accessibletomarketsforwhatthelandproduces• Adequateinfrastructureandagriculturalsupportservices• Surroundingparcelsoflandthatcansupportlong-termagriculturalproduction

KEY RESTRICT IONS O F T HE CO NSERVATION EASEMENT Accordingto7CFR1491.22(c):

Theeligibleentitymayuseitsowntermsandconditionsintheconservationeasementdeed,butthecon-servationeasementdeedmustbereviewedandapprovedbyNationalHeadquartersinadvanceofuse.

Atthetimeoftheappraisal,adrafteasementdocumentwasnotavailable.However,mydiscussionswiththeoriginatingadministrativeofficeoftheNRCSindicatesthatthekeyrestrictionsoftheeasementaffectingvalueoftheconstrainedlandare:

o Prohibitionofsubdivisiono Limitsonconstructionrights

Thelossoftheserightsandtheirimpactonvaluearediscussedinmoredetailinthepropertydataonthefol-lowingpages.

21. NEIGHBORHOOD FACTORS Allofthesurroundingpropertyisruralinnatureandisinuseasruralresidences,farmland,orwoodland.Theeasementwilllikelyhavelittletonoeffectonthissurroundingpropertyintheforeseeablefuture.

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22. PROPERTY DATA SITE ThephysicalsitedescriptionisidenticaltothatinSection13.Themajoreasementrestrictionsaffectingthesitearethelimitsonsubdivisionandconstruction.Theproposedeasementwouldrestricttheparcelfromsubdivisionwit:

2.4. Subdivision. The Protected Property may not be divided, partitioned, subdivided or conveyed except in its current configuration.

Themorespecificrightsheldbytheownerwithrespecttosubdivisionmaybefoundintheeasementdocu-mentintheAddendum.FOREST PRODUCT S Theeasementdocumentdoesnotsubstantiallyrestricttheowner’srightstothetimberexceptforthestreambuffersandbufferedareas.Theeasementlanguagestates:

3.10 Timber Resources. Grantor may selectively harvest timber resources from the Protected Property for personal or commercial use. Such selective harvest shall be conducted in a manner consistent with the purposes of this Conservation Easement that minimizes the impact on the Conservation Values of the Pro-tected Property, and in accordance with all other terms and conditions of this Conservation Easement. Grantor must obtain a timber management plan completed by a S.C. Registered Forester prior to any com-mercial harvesting of timber.

Thereisonlyasmallstandoftimberonthesubjectfarm.Ithasnomerchantablevalue.IMPROVEMENT S Theeasementwillpreventmostnewlandandbuildingimprovementsexceptfortheexceptionssummarizedbelow.

(a) Structures&Improvements–Structures,improvements,pavedroadsandotherimper-vioussurfaceslocatedontheProtectedProperty,includingthoseexistingonthedateofthisEasement,asindicatedintheBaselineDocumentationReport,shallnotexceed2percentofthetotalareaoftheProtectedProperty.Impervioussurfaceisdefinedasanymaterialwhichcoverslandandinhibitsthepercolationofwaterdirectlyintothesoil,including,butnotlimitedto,buildings,roofing,theareacov-eredbypermanentornonpermanentstructures,macadamandpavement,concrete,pavedandstonedriveways,roads,andparkingareas,includingproposedstructuresthatareeitherpermanentortem-porary.

Existingstructures,includingagriculturalstructuresandimprovements,mayberepaired,rea-

sonablyenlarged,andreplacedattheircurrentlocationswithinthe“FarmsteadArea,”asshownonEx-hibitB,withoutfurtherpermissionfromtheGrantee.Newbuildings,includingbarns,sheds,andotherstructuresandimprovementstobeusedprimarilyforagriculturalpurposes(includingtheprocessingorsaleoffarmproductspredominantlygrownorraisedontheProperty)maybebuiltonthePropertywithoutanyfurtherpermissionofGranteeprovidedtheyarelocatedinthe"FarmsteadArea."

Anynewagriculturalbuildings,structuresorimprovementsproposedforlocationsoutsidethe

"FarmsteadArea",exceptforfencesandsmallagriculturalstructurespermittedunderparagraph3be-low,maybebuiltonlywiththeadvancewrittenpermissionoftheGrantee.TheGranteeshallgivesuch

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permissionwithinareasonabletimeifitdeterminesthattheproposedbuilding,structure,orimprove-mentwouldnotdiminishorimpairtheConservationValuesoftheProtectedProperty,isnotreasonablylocatablewithintheexistingFarmsteadEnvelope,andisnototherwisebeinconsistentwiththisEase-ment.

(b) Single-FamilyResidentialDwellings–NoresidentialdwellingmaybebuiltonthePro-

tectedProperty.(c) RecreationalImprovements.Norecreationalimprovementsarepermitted.

ASSESSED VALUE AND TAX LO AD Theassessedvalueandtaxloadwouldlikelydecreaseinthepost-easementconditionduetotheapplicationoftheconservationeasement.RefertoSection13forthecurrentassessedvalueandtaxload.ZONING AND OT HER LAND USE REGULATIONS IanticipatenochangeinzoningfromthatdiscussedinSection13.

PART V–DATA ANALYSIS AND CONCLUSIONS–AFTER EASEMENT 23. ANALYSIS OF HIGHEST AND BEST USE Theownerdesirestoplaceaconservationeasementonthesubjectproperty.Themajorlimitationsoftheeasementarelanduserestrictions,prohibitionofsubdivision,andbuildingrestrictions.Thekeypointsoftheserestrictionswerediscussedearlier.LEGALLY PERMISSIBLE Theonlychangeinlegallypermissibleusefromthepre-easementconditionistheapplicationoftheeasementrestrictions.Themajorrestrictionshavebeendiscussedinthisreportandcanbeseenindetailinthedrafteasementdocument,whichisincludedbyreference.PHYSICALLY POSSIBLE Thephysicallimitationsdonotchangefromthepre-easementcondition.FINANCIALLY FEASIBLE/MOST PRO DUCTIVE Aftertheapplicationoftheeasement,thesubjectisbestdescribedasanagriculturaltractwithnopotentialtomovetoahigheruse.Subdivisionanddevelopmentarenotallowedunderthetermsoftheeasement.Inmyopinion,thehighestandbestuseofthelandsubjecttotheeasementislegallyconstrainedtoagricul-tural.

24. LAND VALUATION Detailsofthelandvaluationarediscussedinthefollowingsections.

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25. VALUE ESTIMATE BY THE COST APPROACH Notusedasexplainedearlier.

26. VALUE ESTIMATE BY THE SALES COMPARISON APPROACH SELECT ION OF CO MPARABLE SALES Ifoundsixeasement-constrainedsaleswithin150milesofthesubject.Ofthesixeasementsales,twowereencumberedwithFRPPeasementsidenticaltothatofthesubjectproperty,threewereencumberedwithsim-ilaragriculturaluseeasements,andtheremainingsalewasencumberedwithalessrestrictivelandtrusteasementsandwasadjustedaccordingly.

STATIST ICAL ANALYSIS O F SALES TO PRODUCE COMPONENT LAND VALUES Iusedthesamestatisticalmethodologytodeterminetherelativevaluesofthelandusecategoriesasinthemarketappraisal.

Thesedataindicatethatwhenthebarelandpricesofallsalesarenotbrokendownintocomponentlandcate-gories,thestandarddeviationoftheaverageoverallpriceperacreis28.7%ofthemean.Whenthelandofeachcomparablesaleisbrokendownintocropland,generalopenland,uplandwoodland,lowlandwoodland,buildingsites,andpondsandtherelativevaluesareadjustedasshowninthetable,theoverallstandarddevi-ationofthesamplereducesto27.7%,indicatingthattherelativecomponentvalueshaveslightstatisticalsig-nificanceacrossthesampleofthesalesshown.Thecorrelationwasnotasstrongasinthemarketsalesintheprevioussectionduetothemorevariedsampleofsalesandlocations.

Sale County SaleDate SalePrice Acres$/Acre(raw)

Est.Improv.Value

Est.Timbervalue

$/BareLandAcre

CroplandAcres

Pasture/Openacres

UplandWoodlandacres

Lowland/wetlandacres

E12 Horry 14-Apr-14 $64,500 36.12 $1,786 $0 $0 $1,786 20 0 0 16.12E13 Marion 22-Mar-12 $112,000 56.5 $1,982 $0 $0 $1,982 55.5 0 0 1E14 Sumter 14-Sep-12 $628,238 335.06 $1,875 $0 $159,250 $1,400 90 0 245.06 0E15 Georgetown 16-May-14 $1,300,000 367.75 $3,535 $462,500 $350,000 $1,326 24 10 277 48.75E16 Sumter 8-Jul-14 $2,700,000 898.2 $3,006 $288,611 $0 $2,685 773.4 9.1 36.7 76E17 Beaufort 10-Aug-16 $867,000 231 $3,753 $0 $288,750 $2,503 0 0 225 6

Sale I II III IV V VI Overall Land Value Sale Date I II III IV V VIE12 Henry B Lewis $2,515 $1,887 $1,887 $880 $0 $3,773 $1,786 $64,500 14-Apr-14 20.0 0.0 0.0 16.1 0.0 0.0E13 Terry W. Strickland $2,005 $1,504 $1,504 $702 $0 $3,008 $1,982 $112,000 22-Mar-12 55.5 0.0 0.0 1.0 0.0 0.0E14 Dale and Emmal Cannon $1,713 $1,285 $1,285 $600 $0 $2,569 $1,400 $468,988 14-Sep-12 90.0 0.0 245.1 0.0 0.0 0.0E15 Arthur K Cates $1,817 $1,363 $1,363 $636 $0 $2,725 $1,326 $487,500 16-May-14 24.0 10.0 277.0 48.8 0.0 8.0E16 FLO Fund Domestic, LLC $2,875 $2,156 $2,156 $1,006 $0 $4,312 $2,685 $2,411,389 08-Jul-14 773.4 9.1 36.7 76.0 0.0 3.0E17 Coosaw Land, LLC $3,385 $2,538 $2,538 $1,185 $0 $5,077 $2,503 $578,250 10-Aug-16 0.0 0.0 225.0 6.0 0.0 0.0

Mean: $2,385 $1,789 $1,789 $835 $0 $3,577 $1,947 190 10 522 66 0 8% STD: 27.7% 27.7% 27.7% 27.7% 27.7% 27.7% 28.7%

Relative Value: 100% 75% 75% 35% 0% 150%

I CroplandII Grassland/OpenIII Upland woodlandIV Lowland woodlandV Swamp/MarshVI Ponds

Land Type Category Definitions

Acres by Category in SaleWeighted Land Type Category Value

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SALES GRID—AFT ER EASEMENT

QUANTITAT IVE ADJUST MENT S Quantitativeadjustmentsweremadeinthesamemannerasinthemarketappraisal.Thespecificsubjectiveadjustmentswerediscussedonthesalesgrid.SUBJECT IVE ADJUST MENT S SaleE12wasadjustedupwardformotivatedseller(banksale).SaleE13wasadjustedupwardforitsinferiorlocationinMarionCounty.SaleE14wasadjustedupwardforitsinferiorlocationandupward25%forits

Analysis and Comparision of Easement Land SalesSale Subject E12 E13 E14 E15 E16 E17

Buyer Henry B LewisTerry W.

StricklandDale and Emmal

Cannon Arthur K CatesFLO Fund

Domestic, LLCCoosaw Land,

LLC

SellerHorry County

State BankTolmand and

Sandra Lennon Howle Q1 LLCEdward W

HicksonCameron Simpson

Lands End Plantation

Holding Corp.

County Horry Marion Sumter Georgetown Sumter BeaufortSale Date 4/14/2014 3/22/2012 9/14/2012 5/16/2014 7/8/2014 8/10/2016Price $64,500 $112,000 $628,238 $1,300,000 $2,700,000 $867,000

Type of Easement Ag use FRPP (Ag use) Ag use Ag use FRPP (Ag use) Land TrustLand Acres 32.55 36.12 56.5 335.06 367.75 898.2 231Timber Contribution* $0 $0 $0 $159,250 $350,000 $0 $288,750Improvements Contribution $0 $0 $0 $0 $462,500 $288,611 $0Land-only Contribution $64,500 $112,000 $468,988 $487,500 $2,411,389 $578,250

Cropland 0 20.0 55.5 90.0 24.0 773.4 Grassland/Open 30.05 10.0 9.1 Upland woodland 2.5 245.1 277.0 36.7 225.0Lowland woodland 0 16.1 1.0 48.8 76.0 6.0Swamp/Marsh 0 Ponds 0 8.0 3.0

Gross price per acre $1,786 $1,982 $1,875 $3,535 $3,006 $3,753

Quantitative AdjustmentsTimber Adjustment $0 $0 -$475 -$952 $0 -$1,250Land Quality/use adjustment: $101 -$478 -$115 $37 -$529 $35Improvements adjustement $0 $0 $0 -$1,258 -$321 $0

Adjusted value/acre: $1,887 $1,504 $1,285 $1,363 $2,156 $2,538

Subjective (%) AdjustmentsTime, conditions of sale 10.0% -10.0%Location, access, frontage 20.0% 20.0% 10.0% -10.0%Size 25.0% 25.0% 20.0%Condition, Topography, floodEasement restrictionsAmenities, river frontage -15.0%

Total % Adjustments: 10.0% 20.0% 45.0% 35.0% -10.0% -5.0%Indicated Subject Land Value $2,065 $1,900 $1,915 $1,827 $1,888 $2,413

Subject Acreage: 32.55Mean Value Indication: $2,001

Standard Deviation: $217 11%Median Value: $1,908

Selected per-acre land value: $2,000

Estimated value of constrained subject land: $65,100

Sale

Info

rmat

ion

Adju

stm

ents

Conc

lusi

ons

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muchlargersize.SaleE15wasadjustedupward10%foritsinferiorlocationand25%foritsmuchlargersize.SaleE16wasadjusteddownward10%foramotivatedbuyerthatisknownforpayingpremiumpricesforcropland.Thesalewasnotadjustedforsize,ascommercialcroplandtractstendtobebasedmorepurelyonpriceperacrewithlittleregardforsize.SaleE17wasadjusteddownward10%foritssuperiorislandlo-cationinBeaufortCounty,upward20%foritsmuchlargersize,anddownward15%foritssuperiormarshfrontageamenity.

27. VALUE ESTIMATE BY INCOME CAPITALIZATION APPROACH Theincomeapproachwasnotused.

28. CORRELATI ON AND FINAL VALUE ESTIMATE (AFTER EASEMENT) Asthesalescomparisonapproachwastheonlyviableapproachtovalue,itismyopinionthatthevalueaftertheeasementisthesalescomparisonapproachestimateof$56,963roundedto:

Sixty-FiveThousandDollars($65,000).

PART VII–EASEMENT ANALYSIS 29. RECAPITULATION SUMMARY Thevalueofthepropertyappraisedbeforetheeasementwasestimatedtobe$146,000.Thehypotheticalvalueforthesubjectlandaftertheeasementisestimatedtobe$65,000. ValueBefore: $146,000 ValueAfter: $65,000 Difference(easementvalue): $81,000 EXPOSURE AND MARKET ING TIME EST IMATES ExposureTimeisdefinedas:

"Theestimatedlengthoftimethepropertyinterestbeingappraisedwouldhavebeenofferedonthemarketpriortothehypotheticalconsummationofasaleatmarketvalueontheeffectivedateoftheappraisal;aretrospectiveestimatebaseduponananalysisofpasteventsassumingacompetitiveandopenmarket.”6

Paramounttotheestimateofexposuretimeisthepresumptiontohaveoccurredpriortothevaluationdate.Indetermininganexposuretime,theappraisermayutilizestatisticalinformationofcomparablesalesto

6StatementonAppraisalStandardsNo.6,"ReasonableExposureTimeinMarketValueEstimates"

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concludethenumberofdaysonthemarketorobtainanestimatefromactiveparticipantsorbrokersinthemarketplace.MarketingPeriodisdefinedas:

"Anestimateoftheamountoftimeitmighttaketosellaninterestinrealpropertyatitsestimatedmar-ketvalueduringtheperiodimmediatelyaftertheeffectivedateoftheappraisal;theanticipatedtimerequiredtoexposethepropertytoapoolofprospectivetimefornegotiation,theexerciseofduedili-gence,andtheconsummationofasalepricesupportablebyconcurrentmarketconditions.Marketingtimediffersfromexposuretime,whichisalwayspresumedtoprecedetheeffectivedateoftheap-praisal.7

Paramounttotheestimateofmarketingperiodisthepresumptiontohaveoccurredafterthevaluationdate.Indeterminingamarketingperiod,theappraisermayutilizestatisticalinformationofcomparablesalestoconcludethenumberofdaysonthemarketorobtainanestimatefromactiveparticipantsorbrokersinthemarketplace.Inthecaseofthesubjectpropertyexposuretimeandmarketingperiodareconsideredtobeequal.Itismyopinionthattheexposureperiodandmarketingtimeofthesubjectpropertyis12months.

30. ALLOCATION AND EXPLANATION OF DAMAGES None.

31. EXPLANATION OF SPECIAL BENEFITS SeethediscussiononPages33-35.

7AdvisoryOpinionG-7oftheAppraisalStandardsBoardofTheAppraisalFoundationandStatement

onAppraisalStandardsNo.6,"ReasonableExposureTimeinMarketValueEstimates"addressthedetermina-tionofreasonableexposureandmarketingtime.

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PART VII–EXHIBITS AND ADDENDA 32. LOCATION MAPS REGIONAL MAP

FIGURE3.SUBJECTISINDARKBLUE

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MooreFRPP

35

33. COMPARABLE DATA MAPS ComparablesalesdatamapsmaybefoundinSection17andSection26.

34. DETAIL OF COMPARATIVE SALES DA TA Sales1through8wereusedforthebeforetheeasementanalysis.SalesE12throughE17wereusedintheaftertheeasementanalysis.

Page 92: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

Buyer: Powell, Amanda County: OconeeSeller: Powell, James, etal. Sale Date: 5-Feb-18

Purchase Price: $240,000 Deed Ref: 2333-326Acres: 47.71 Zoning: none

Tax Map: 3100-00-01-001 Gross price/ac: $5,030Location: 4.8 miles north of Fair Play, SC Land price/ac: $5,030

Short Description: Pasture tract

Timber Value: $0Leases, contracts: None

Est. Impr. Value: $0

Sale 1

A family member purchased the parcel from a family trust at market rates.

Page 93: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

$0

Est. Value

$0

100% $5,182 $044.21 100% $5,182 $229,117

65% $3,369 $03 50% $2,591 $7,774

100% $5,182 $00.5 120% $6,219 $3,109

Total: 47.71 $240,000

From Description: 47.71

IDRadius

(ft) Arc (deg.) Acres $/ac

Total contrib. value

$0$0$0

0 $0

Center Pivot Irrigation Calculations

Sale 1 Detail

Timber Detail

Building Improvements Detail

Land Improvements Detail

Eff. AgeRem. Eco.

Life % good DRCNRCNCond.AreaDescription

Land Component Detail

Description of Land Improvements

Tot. land componentLand Type

Value per acre

CroplandPasture/openUpland woodlandLow woodland/wetlandBuilding sitesPonds

Rel. ValueComponent Acres

Page 94: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

Sales Price: $240,000

Quantitative AdjustmentsTimber and Improvements Subject Sale AdjustmentTimber $0 $0 $0Land improvements $0 $0 $0Building improvements $0 $0 $0

Total: $0

Land Adjustments Subject Sale Difference value/acre Adjustment

Cropland 0.0 0.0 0.0 $5,182 $0Pasture/open 30.1 44.2 -14.2 $5,182 -$73,384Upland woodland 2.5 0.0 2.5 $3,369 $8,422Low woodland/wetland 0.0 3.0 -3.0 $2,591 -$7,774Building sites 0.0 0.0 0.0 $5,182 $0Ponds 0.0 0.5 -0.5 $6,219 -$3,109

32.6 47.7 -15.2 Total: -$75,845

Subtotal after quantitative adjustments: $164,155

Subjective AdjustmentsAdj. to

subtotal Adjustment

Time, conditions of sale 0% $0Location, access, frontage 0% $0Size 0% $0Condition, Topography 0% $0Other 0% $0

Net subjective adjustments: 0% $0

Indicated Value of Subject: $164,155

Sale 1 Detailed Adjustment Sheet

See the sales grid for explanation of subjective adjustments.

Page 95: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

Buyer: Burton, Phillip A County: OconeeSeller: Wilson, Emily B Sale Date: 25-Feb-16

Purchase Price: $140,000 Deed Ref: 2164-114Acres: 38.39 Zoning: none

Tax Map: 235-00-02-076 Gross price/ac: $3,647Location: 1.6 miles NE of Westiminster Land price/ac: $3,647

Short Description: Pasture and cutover woodland

Timber Value: $0Leases, contracts: $0

Est. Impr. Value: $0

Sale 2

Page 96: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

$0

Est. Value

$0

100% $4,589 $016.3 100% $4,589 $74,799

21.09 65% $2,983 $62,9071 50% $2,294 $2,294

100% $4,589 $0120% $5,507 $0

Total: 38.39 $140,000

From Description: 38.39

ID Radius (ft) Arc (deg.) Acres $/ac

Total contrib. value

Tot. land component

CroplandAcres

Upland woodlandPasture/open

Low woodland/wetland

Rel. ValueValue per

acre

Land Improvements DetailDescription of Land Improvements

Sale 2 Detail

Building Improvements Detail

Description Area Cond. RCN Eff. AgeRem. Eco.

Life % good DRCN

Center Pivot Irrigation Calculations

Timber Detail

Land Component Detail

Land Type Component

Building sitesPonds

Page 97: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

Sales Price: $140,000

Quantitative AdjustmentsTimber and Improvements Subject Sale AdjustmentTimber $0 $0 $0Land improvements $0 $0 $0Building improvements $0 $0 $0

Total: $0

Land Adjustments Subject Sale Difference value/acre Adjustment

Cropland 0.0 0.0 0.0 $4,589 $0Pasture/open 30.1 16.3 13.8 $4,589 $63,097Upland woodland 2.5 21.1 -18.6 $2,983 -$55,450Low woodland/wetland 0.0 1.0 -1.0 $2,294 -$2,294Building sites 0.0 0.0 0.0 $4,589 $0Ponds 0.0 0.0 0.0 $5,507 $0

32.6 38.4 -5.8 Total: $5,353

Subtotal after quantitative adjustments: $145,353

Subjective Adjustments Adj. to subtotal Adjustment

Time, conditions of sale 0% $0Location, access, frontage 0% $0Size 0% $0Condition, Topography 0% $0Other 0% $0

Net subjective adjustments: 0% $0

Indicated Value of Subject: $145,353

Sale 2 Detailed Adjustment Sheet

See the sales grid for explanation of subjective adjustments.

See the sales grid for explanation of subjective adjustments.

Page 98: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

Buyer: Gambrell, Elijah County: OconeeSeller: Treadaway, Michael Sale Date: 14-Jul-15

Purchase Price: $127,500 Deed Ref: 2117-19Acres: 30 Zoning:

Tax Map: 301-00-03-007 Gross price/ac: $4,250Location: 5.5 miles NNE of Fair Play, SC Land price/ac: $4,250

Short Description: Pasture tract

Timber Value: $0Leases, contracts: None

Est. Impr. Value: $0

Sale 3

Page 99: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

$0

Est. Value

$0

100% $4,431 $026.5 100% $4,431 $117,420

3.5 65% $2,880 $10,08050% $2,215 $0

100% $4,431 $0120% $5,317 $0

Total: 30 $127,500

From Description: 30

ID Radius (ft) Arc (deg.) Acres $/ac

Total contrib. value

CroplandPasture/openUpland woodland

Sale 3 (cont.)

Building Improvements Detail

Description Area Cond. RCN Eff. AgeRem. Eco.

Life % good

Low woodland/wetlandBuilding sites

Timber Detail

Land Component Detail

Land Type Component Acres Rel. ValueValue per

acreTot. land

component

DRCN

Land Improvements Detail

Center Pivot Irrigation Calculations

Description of Land Improvements

Ponds

Page 100: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

Sales Price: $127,500

Quantitative AdjustmentsTimber and Improvements Subject Sale AdjustmentTimber $0 $0 $0Land improvements $0 $0 $0Building improvements $0 $0 $0

Total: $0

Land Adjustments Subject Sale Difference value/acre Adjustment

Cropland 0.0 0.0 0.0 $4,431 $0Pasture/open 30.1 26.5 3.6 $4,431 $15,730Upland woodland 2.5 3.5 -1.0 $2,880 -$2,880Low woodland/wetland 0.0 0.0 0.0 $2,215 $0Building sites 0.0 0.0 0.0 $4,431 $0Ponds 0.0 0.0 0.0 $5,317 $0

32.6 30.0 2.6 Total: $12,850

Subtotal after quantitative adjustments: $140,350

Subjective Adjustments Adj. to subtotal Adjustment

Time, conditions of sale 0% $0Location, access, frontage 0% $0Size 0% $0Condition, Topography 0% $0Other 0% $0

Net subjective adjustments: 0% $0

Indicated Value of Subject: $140,350

% diff from subject:

Sale 3 Detailed Adjustment Sheet

See the sales grid for explanation of subjective adjustments.See the sales grid for explanation of subjective adjustments.

Page 101: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

Buyer: Grant, Michael and Jimmy County: OconeeSeller: Mize, Juanita L Sale Date: 6-Apr-15

Purchase Price: $191,500 Deed Ref: 2096-214Acres: 47.88 Zoning: none

Tax Map: 301-00-04-009 Gross price/ac: $4,000Location: 4.9 miles north of Fair Play, SC Land price/ac: $3,599

Short Description: Pasture and woodland

Timber Value: $19,200Leases, contracts: None

Est. Impr. Value: $0

Sale 4

Page 102: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

$0

Est. Value

$0

$19,200

100% $4,692 $016 100% $4,692 $75,072

31.88 65% $3,050 $97,22850% $2,346 $0

100% $4,692 $0120% $5,630 $0

Total: 47.88 $172,300

From Description: 47.88

ID Radius (ft) Arc (deg.) Acres $/ac

Total contrib. value

Sale 4 Detail

Land Improvements DetailDescription of Land Improvementsnone

Building Improvements Detail

Description Area Cond. RCN Eff. AgeRem. Eco.

Life % good DRCN

Pasture/open

Land Type Component

Timber Detail

Natural hardwood timber

Land Component DetailTot. land

componentAcres Rel. ValueValue per

acre

Center Pivot Irrigation Calculations

Ponds

Upland woodlandLow woodland/wetlandBuilding sites

Cropland

Page 103: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

Sales Price: $191,500

Quantitative AdjustmentsTimber and Improvements Subject Sale AdjustmentTimber $0 $19,200 -$19,200Land improvements $0 $0 $0Building improvements $0 $0 $0

Total: -$19,200

Land Adjustments Subject Sale Difference value/acre Adjustment

Cropland 0.0 0.0 0.0 $4,692 $0Pasture/open 30.1 16.0 14.1 $4,692 $65,923Upland woodland 2.5 31.9 -29.4 $3,050 -$89,603Low woodland/wetland 0.0 0.0 0.0 $2,346 $0Building sites 0.0 0.0 0.0 $4,692 $0Ponds 0.0 0.0 0.0 $5,630 $0

32.6 47.9 -15.3 Total: -$23,681

Subtotal after quantitative adjustments: $148,619

Subjective Adjustments Adj. to subtotal Adjustment

Time, conditions of sale 0% $0Location, access, frontage 0% $0Size 0% $0Condition, Topography 0% $0Other 0% $0

Net subjective adjustments: 0% $0

Indicated Value of Subject: $148,619

% diff from subject:

Sale 4 Detailed Adjustment Sheet

See the sales grid for explanation of subjective adjustments.See the sales grid for explanation of subjective adjustments.See the sales grid for explanation of subjective adjustments.

Page 104: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

Buyer: Hestir, William, etal. County: OconeeSeller: Ridgeway, Lynn M etal. Sale Date: 7-Jun-17

Purchase Price: $199,500 Deed Ref: 2274-82Acres: 49 Zoning: none

Tax Map: 312-00-04-003 Gross price/ac: $4,071Location: 5.3 miles NE of Fair Play, SC Land price/ac: $4,071

Short Description: Grassland and woodland

Timber Value: $0Leases, contracts: None

Est. Impr. Value: $0

Sale 5

Page 105: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

$0$0

$0

Est. Value

$0

100% $5,112 $020.5 100% $5,112 $104,79828.5 65% $3,323 $94,702

50% $2,556 $0100% $5,112 $0120% $6,135 $0

Total: 49 $199,500

From Description: 49

ID Radius (ft) Arc (deg.) Acres $/ac

Total contrib. value

Land Improvements DetailDescription of Land Improvements

Sale 5 (cont.)

Building Improvements Detail

Description Area Cond. RCN Eff. AgeRem. Eco.

Life % good DRCN

Rel. ValueValue per

acre

Timber Detail

Land Component Detail

Pasture/open

Land Type Component Acres

Center Pivot Irrigation Calculations

Ponds

Upland woodlandLow woodland/wetlandBuilding sites

Tot. land component

Cropland

Page 106: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

Sales Price: $199,500

Quantitative AdjustmentsTimber and Improvements Subject Sale AdjustmentTimber $0 $0 $0Land improvements $0 $0 $0Building improvements $0 $0 $0

Total: $0

Land Adjustments Subject Sale Difference value/acre Adjustment

Cropland 0.0 0.0 0.0 $5,112 $0Pasture/open 30.1 20.5 9.6 $5,112 $48,821Upland woodland 2.5 28.5 -26.0 $3,323 -$86,395Low woodland/wetland 0.0 0.0 0.0 $2,556 $0Building sites 0.0 0.0 0.0 $5,112 $0Ponds 0.0 0.0 0.0 $6,135 $0

32.6 49.0 -16.5 Total: -$37,574

Subtotal after quantitative adjustments: $161,926

Subjective Adjustments Adj. to subtotal Adjustment

Time, conditions of sale 0% $0Location, access, frontage 0% $0Size 0% $0Condition, Topography 0% $0Other 0% $0

Net subjective adjustments: 0% $0

Indicated Value of Subject: $161,926

% diff from subject:

Sale 5 Detailed Adjustment Sheet

See the sales grid for explanation of subjective adjustments.See the sales grid for explanation of subjective adjustments.See the sales grid for explanation of subjective adjustments.

Page 107: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

Buyer: Stovall, Lindsay D County: OconeeSeller: Lyles, Betty H Sale Date: 12-May-15

Purchase Price: $140,000 Deed Ref: 2104-93Acres: 40.08 Zoning: none

Tax Map: 260-00-02-003 Gross price/ac: $3,493Location: 6.2 miles WSW of Westminster, SC Land price/ac: $3,291

Short Description: Grassland and woodland

Timber Value: $8,100Leases, contracts: None

Est. Impr. Value: $0

Sale 6

Page 108: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

$0

Est. Value

$0

$8,100

100% $4,077 $018 100% $4,077 $73,386

22.08 65% $2,650 $58,51450% $2,039 $0

100% $4,077 $0120% $4,892 $0

Total: 40.08 $131,900

From Description: 40.08

ID Radius (ft) Arc (deg.) Acres $/ac

Total contrib. value

$00 $00 $0

CroplandPasture/open

Land Type Component

Center Pivot Irrigation Calculations

Ponds

Upland woodlandLow woodland/wetlandBuilding sites

Acres Rel. ValueValue per

acre

Timber Detail

Unthinned pine timber, approx 11 y/o

Land Component DetailTot. land

component

Sale 6 (cont.)

Building Improvements Detail

Description Area Cond. RCN Eff. AgeRem. Eco.

Life % good DRCN

Land Improvements DetailDescription of Land Improvements

Page 109: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

Sales Price: $140,000

Quantitative AdjustmentsTimber and Improvements Subject Sale AdjustmentTimber $0 $8,100 -$8,100Land improvements $0 $0 $0Building improvements $0 $0 $0

Total: -$8,100

Land Adjustments Subject Sale Difference value/acre Adjustment

Cropland 0.0 0.0 0.0 $4,077 $0Pasture/open 30.1 18.0 12.1 $4,077 $49,128Upland woodland 2.5 22.1 -19.6 $2,650 -$51,888Low woodland/wetland 0.0 0.0 0.0 $2,039 $0Building sites 0.0 0.0 0.0 $4,077 $0Ponds 0.0 0.0 0.0 $4,892 $0

32.6 40.1 -7.5 Total: -$2,760

Subtotal after quantitative adjustments: $129,140

Subjective Adjustments Adj. to subtotal Adjustment

Time, conditions of sale 0% $0Location, access, frontage 10% $12,914Size 0% $0Condition, Topography 0% $0Other 0% $0

Net subjective adjustments: 10% $12,914

Indicated Value of Subject: $142,054

% diff from subject:

Sale 6 Detailed Adjustment Sheet

See the sales grid for explanation of subjective adjustments.See the sales grid for explanation of subjective adjustments.See the sales grid for explanation of subjective adjustments.

Page 110: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

Buyer: Wilbanks, Phillip L County: OconeeSeller: Bennett, Billy G Sale Date: 20-May-15

Purchase Price: $68,000 Deed Ref: 2106-93Acres: 20.33 Zoning: none

Tax Map: 289-00-01-090 Gross price/ac: $3,345Location: 4 miles SE of Westminster, SC Land price/ac: $3,345

Short Description: Grassland and woodland

Timber Value: $0Leases, contracts: None

Est. Impr. Value: $0

Sale 7

Page 111: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

$0

Est. Value

$0

100% $3,952 $011.4 100% $3,952 $45,0588.93 65% $2,569 $22,942

50% $1,976 $0100% $3,952 $0120% $4,743 $0

Total: 20.33 $68,000

From Description: 20.33

ID Radius (ft) Arc (deg.) Acres $/ac

Total contrib. value

Sale 7 (cont.)

Low woodland/wetland

Land Component Detail

Land Type Component Acres Rel. ValueValue per

acreTot. land

component

Pasture/openUpland woodland

Building Improvements Detail

Description Area Cond. RCN Eff. AgeRem. Eco.

Life % good DRCN

Center Pivot Irrigation Calculations

Land Improvements DetailDescription of Land Improvements

PondsBuilding sites

Cropland

Timber Detail

Page 112: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

Sales Price: $68,000

Quantitative AdjustmentsTimber and Improvements Subject Sale AdjustmentTimber $0 $0 $0Land improvements $0 $0 $0Building improvements $0 $0 $0

Total: $0

Land Adjustments Subject Sale Difference value/acre Adjustment

Cropland 0.0 0.0 0.0 $3,952 $0Pasture/open 30.1 11.4 18.7 $3,952 $73,713Upland woodland 2.5 8.9 -6.4 $2,569 -$16,519Low woodland/wetland 0.0 0.0 0.0 $1,976 $0Building sites 0.0 0.0 0.0 $3,952 $0Ponds 0.0 0.0 0.0 $4,743 $0

32.6 20.3 12.2 Total: $57,194

Subtotal after quantitative adjustments: $125,194

Subjective Adjustments Adj. to subtotal Adjustment

Time, conditions of sale 0% $0Location, access, frontage 0% $0Size 0% $0Condition, Topography 0% $0Other 0% $0

Net subjective adjustments: 0% $0

Indicated Value of Subject: $125,194

% diff from subject:

Sale 7 Detailed Adjustment Sheet

See the sales grid for explanation of subjective adjustments.

Page 113: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

Buyer: Hubbard, David G County: OconeeSeller: England, B M Jr. (estate) Sale Date: 1-Nov-17

Purchase Price: $252,100 Deed Ref: 2311-217Acres: 67.54 Zoning: none

Tax Map: 219-00-03-007 Gross price/ac: $3,733Location: 0.8 miles north of Westminster Land price/ac: $3,733

Short Description: Woodland and grassland

Timber Value: $0Leases, contracts: None

Est. Impr. Value: $0

Sale 8

Page 114: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

$0

Est. Value

$0

100% $4,688 $028.2 100% $4,688 $132,213

39.34 65% $3,047 $119,88750% $2,344 $0

100% $4,688 $0120% $5,626 $0

Total: 67.54 $252,100

From Description: 67.54

ID Radius (ft) Arc (deg.) Acres $/ac

Total contrib. value

Building sitesPonds

Pasture/openUpland woodlandLow woodland/wetland

Sale 8 (cont.)

Building Improvements Detail

Description Area Cond. RCN Eff. AgeRem. Eco.

Life % good DRCN

Description of Land Improvements

Center Pivot Irrigation Calculations

Cropland

Timber Detail

Mostly cutover land, no timber value

Land Component Detail

Land Type Component Acres Rel. ValueValue per

acreTot. land

component

Land Improvements Detail

Page 115: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

Sales Price: $252,100

Quantitative AdjustmentsTimber and Improvements Subject Sale AdjustmentTimber $0 $0 $0Land improvements $0 $0 $0Building improvements $0 $0 $0

Total: $0

Land Adjustments Subject Sale Difference value/acre Adjustment

Cropland 0.0 0.0 0.0 $4,688 $0Pasture/open 30.1 28.2 1.9 $4,688 $8,674Upland woodland 2.5 39.3 -36.8 $3,047 -$112,268Low woodland/wetland 0.0 0.0 0.0 $2,344 $0Building sites 0.0 0.0 0.0 $4,688 $0Ponds 0.0 0.0 0.0 $5,626 $0

32.6 67.5 -35.0 Total: -$103,595

Subtotal after quantitative adjustments: $148,505

Subjective Adjustments Adj. to subtotal Adjustment

Time, conditions of sale 0% $0Location, access, frontage 0% $0Size 0% $0Condition, Topography 0% $0Other 0% $0

Net subjective adjustments: 0% $0

Indicated Value of Subject: $148,505

% diff from subject:

Sale 8 Detailed Adjustment Sheet

Page 116: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

Buyer: Henry B Lewis County: HorrySeller: Horry County State Bank Sale Date: 14-Apr-14

Purchase Price: $64,500 Deed Ref: 3726/3195Acres: 36.12 Easement: Ag Use

Tax Map: 009-00-01-065 Gross Price/acre: $1,786Location: 13.7 miles NW of Loris on Pickney Road Land Price/acre: $1,786

Short Description: Samll farm tract with ag use easement

Timber Value: $0Leases, contracts: None

Est. Impr. Value: $0

Sale E12

Buyer was a local farmer looking to increase his acreage. Easement precludes all development andsubdivision. This farm cannot be used for any development of any type. No houses can be placed on theproperty, no commercial building or farm buildings can be erected. Farms in this area range in valuefrom $2800 per acre to $4000 per acre. This sale shows a significant reduction from these per acrevalues.

Page 117: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

$0

Est. Value

$0

20 100% $2,515 $50,30875% $1,887 $075% $1,887 $0

16.12 35% $880 $14,1920% $0 $0

150% $3,773 $0Total: 36.12 $64,500

From Description: 36.12

Lowland woodlandSwamp/MarshPonds

CroplandGrassland/OpenUpland woodland

Timber Detail

Land Component Detail

Land Type Component AcresRel.

ValueValue per

acreTot. land

component

Sale E12

Building Improvements Detail

Description Area Cond. RCN Eff. AgeRem.

Eco. Life % good DRCN

Land Improvements DetailDescription of Land Improvements

Page 118: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

Buyer: Terry W. Strickland County: MarionSeller: Tolmand and Sandra Lennon Sale Date: 22-Mar-12

Purchase Price: $112,000 Deed Ref: 194/170Acres: 56.5 Easement: FRPP

Tax Map: 044-030 Gross Price/acre: $1,982Location: 4.0 miles NE of Marion on Gurley Road Land Price/acre: $1,982

Short Description: Farmland tract with FRPP easement

Timber Value: $0Leases, contracts: None

Est. Impr. Value: $0

Sale E13

The parcel is well located near US 501 Bypass and SC41-A. The sale is predominately open land that haswas used as pasture prior to sale. The buyer placed the sale into row crop production.

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$0

Est. Value

$0

55.5 100% $2,005 $111,29875% $1,504 $075% $1,504 $0

1 35% $702 $7020% $0 $0

150% $3,008 $0Total: 56.5 $112,000

From Description: 56.5

Sale E13

Building Improvements Detail

Description Area Cond. RCN Eff. AgeRem.

Eco. Life % good DRCN

Land Improvements DetailDescription of Land Improvements

Timber Detail

Land Component Detail

Land Type Component AcresRel.

ValueValue per

acreTot. land

componentCroplandGrassland/OpenUpland woodlandLowland woodlandSwamp/MarshPonds

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Buyer: Dale and Emmal Cannon County: SumterSeller: Howle Q1 LLC Sale Date: 14-Sep-12

Purchase Price: $628,238 Deed Ref: 1176/2911Acres: 335.06 Easement: Ag Use

Tax Map: 157-00-02-022/042, 183-00-01-014 Gross Price/acre: $1,875Location: 6.7 miles west of Sumter on N St Paul Rd Land Price/acre: $1,400

Short Description: Farm tract with a farm use conservation easement

Timber Value: $159,250Leases, contracts: None

Est. Impr. Value: $0

Sale E14

Seven acres of the sale parcel were not encumbered by the easement. The buyer cut much of thetimber on the western portion of the tract and converted it to farmland after purchase.

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$0

Est. Value

$0

$159,250

90 100% $1,713 $154,16275% $1,285 $0

245.06 75% $1,285 $314,82635% $600 $0

0% $0 $0150% $2,569 $0

Total: 335.06 $468,988

From Description: 335.06

Sale E14

Building Improvements Detail

Description Area Cond. RCN Eff. AgeRem.

Eco. Life % good DRCN

Land Improvements DetailDescription of Land Improvements

Timber Detail

Thinned pine timber, based on aerial photography

Land Component Detail

Land Type Component AcresRel.

ValueValue per

acreTot. land

componentCroplandGrassland/OpenUpland woodlandLowland woodlandSwamp/MarshPonds

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Buyer: Arthur K Cates County: GeorgetownSeller: Edward W Hickson Sale Date: 16-May-14

Purchase Price: $1,300,000 Deed Ref: 2365/132Acres: 367.75 Easement: Ag use

Tax Map: 03-0428-027, -028, -029 Gross Price/acre: $3,535Location: 16.95 miles NE of Georgetown, SC on Rose Hill Rd Land Price/acre: $1,326

Short Description: Improved farmland with conservation easement

Timber Value: $350,000Leases, contracts: None

Est. Impr. Value: $462,500

Sale E15

Sale was encumbered with an ag use conservation easement. Sale is improved with a large dwelling andhorse barn and also had significant timber value. Part of the sales price is a lot that is located in thePawley's Island area that was valued at $200,000 by both the buyer and seller. The sale shows a deedprice of $1,100,000 but an appraiser involved in the sale indicated the contract called for $1.3M. Theseller received $665,000 for the conservation easement.

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All buildings (based on buyer) $750,000 25 35 58% $437,500

$437,500

Est. Value$25,000

$25,000

$350,000

24 100% $1,817 $43,60610 75% $1,363 $13,627

277 75% $1,363 $377,46348.75 35% $636 $31,001

0% $0 $08 150% $2,725 $21,803

Total: 367.75 $487,500

From Description: 367.75

Sale E15

Building Improvements Detail

Description Area Cond. RCN Eff. AgeRem.

Eco. Life % good DRCN

Land Improvements DetailDescription of Land ImprovementsSite improvements

Timber Detail

Pine plantations

Land Component Detail

Land Type Component AcresRel.

ValueValue per

acreTot. land

componentCroplandGrassland/OpenUpland woodlandLowland woodlandSwamp/MarshPonds

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Buyer: FLO Fund Domestic, LLC County: SumterSeller: Cameron Simpson Sale Date: 8-Jul-14

Purchase Price: $2,700,000 Deed Ref: 1203/4635Acres: 898.2 Easement: FRPP/WRP

Tax Map: Several Gross Price/acre: $3,006Location: 7.6 miles NW of downtown Sumter, SC Land Price/acre: $2,685

Short Description: Agricultural tract with FRPP and WRP easements

Timber Value: $0Leases, contracts: None

Est. Impr. Value: $288,611

ID202206218222209214

Sale E16

Tract has a federal FRPP easement on 733.6 acres and a federal wetlands easement (WRP) on 47.8 acresin the far eastern corner of the tract. approximately 116 acres on the west side of Black River Road arenot constrained by either easement. Buyer is an agricultural Investment Management Organzation thatbuys and leases large tracts of farmland in the region. Sale included several center pivot irrigationsystems, some of which have since been replaced and upgraded by the buyer.

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$0

Est. Value$288,611

$288,611

773.4 100% $2,875 $2,223,2449.1 75% $2,156 $19,619

36.7 75% $2,156 $79,12476 35% $1,006 $76,465

0% $0 $03 150% $4,312 $12,936

Total: 898.2 $2,411,389

From Description: 898.2

IDRadius

(ft) Arc (deg.) Acres $/ac

Total contrib. value

202 835 360 50 $650 $32,685206 975 360 69 $650 $44,564218 1275 360 117 $650 $76,207222 1375 210 80 $650 $51,701209 900 360 58 $650 $37,972214 985 360 70 $650 $45,483

444 $288,611

Sale E16

Building Improvements Detail

Description Area Cond. RCN Eff. AgeRem.

Eco. Life % good DRCN

Land Improvements DetailDescription of Land ImprovementsSee center pivot details below

Timber Detail

None

Land Component Detail

Land Type Component AcresRel.

ValueValue per

acreTot. land

componentCroplandGrassland/OpenUpland woodland

Center Pivot Irrigation Calculations

Lowland woodlandSwamp/MarshPonds

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Buyer: Coosaw Land, LLC County: BeaufortSeller: Lands End Plantation Holding Corp. Sale Date: 10-Aug-16

Purchase Price: $867,000 Deed Ref: 3506-1569Acres: 231 Easement: Land Trust

Tax Map: R300 041 000 0001 Gross Price/acre: $3,753Location: St Helena Island, southwest corner Land Price/acre: $2,503

Short Description: Marshfront property with conservation easement

Timber Value: $288,750Leases, contracts: None

Est. Impr. Value: $0

ID202206218222209214

Sale E17

Tract sold with a Beaufort County Open Land Trust conservation easement in place that allows for 7subdivisions between and 13 acres in a specified area. The owner was paid $471,500 for this easement.The property is marshfront but does not have navigable water access. The buyer cut over the timbersoon after sale. Tract has private dirt road access only.

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$0

Est. Value

$0

$288,750

100% $3,385 $075% $2,538 $0

225 75% $2,538 $571,1426 35% $1,185 $7,108

0% $0 $0150% $5,077 $0

Total: 231 $578,250

From Description: 231

IDRadius

(ft) Arc (deg.) Acres $/ac

Total contrib. value

202 835 360 50 $650 $32,685206 975 360 69 $650 $44,564218 1275 360 117 $650 $76,207222 1375 210 80 $650 $51,701209 900 360 58 $650 $37,972214 985 360 70 $650 $45,483

444 $288,611

Sale E17

Building Improvements Detail

Description Area Cond. RCN Eff. AgeRem.

Eco. Life % good DRCN

Land Improvements DetailDescription of Land Improvements

Timber Detail

Mixed pines and hardwoods, primarily planted pines

Land Component Detail

Land Type Component AcresRel.

ValueValue per

acreTot. land

componentCroplandGrassland/OpenUpland woodland

Center Pivot Irrigation Calculations

Lowland woodlandSwamp/MarshPonds

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64

35. PLOT PLAN Theplatfollows.Thedelineationoftheeasementhasnotyetbeenformallysurveyedandisincludedinthepropertydescriptionsectionofthisreport.

36. FLOOR PLANS Notrequiredforthisreport.

37. TITLE EVIDENCE REPORT Atitleevidencereportwasnotsupplied.

38. OTHER PERTINENT EXHIBITS PHOTOGRAPHS Allphotographsweretakenbytheappraiseronthedateoftheinspection.

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MooreFRPP

65

FIGURE4.FACINGSOUTHIN THEEASTERNPORTIONOFTHETRACT

FIGURE5.ROLLINGPASTURETYPICALOFTHEPROPERTY

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66

FIGURE6.FENCELINE,CENTRALPORTIONOFTHEPROPERTY

FIGURE7.NORTHERNPORTIONOFTHETRACT.TREELINETOTHERIGHTISTHENEPROPERTYBOUNDARY

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MooreFRPP

67

FIGURE8.VIEWOFSMALLERRESIDENCEFROMTHEWESTOAKHIGHWAY(NOTINEASEMENTAREA)

FIGURE9.VIEWOFLARGERRESIDENCEFROMTHECENTEROFTHETRACT(NOTINTHEEASEMENTAREA)

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APPRAISER QUALIFICAT IO NS

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RICHARD H. HOLSTEIN IV, P.E.

M.S. CIVIL ENGINEERING, North Carolina State University, Environmental Engineering concentration, 1994 B.S. MECHANICAL ENGINEERING, Clemson University, 1984

EDUCATION: APPRAISAL EXPERIENCE: I started in the appraisal business in 2005 after careers in the military and engineering. I moved back home to South Carolina and joined my father at Holstein Appraisals, where he had spent the previous 20 years developing a specialized appraisal business focusing on agricultural properties, agri-business, rural estates, conservation easements, and other non-standard rural properties across South Carolina, North Carolina, and Georgia. I cut my teeth in this business appraising everything from broiler farms to feed mills to rural commercial properties. I have appraised some of the largest farming operations in South Carolina and Georgia, including the nation’s largest peach farm and largest onion farm. I have appraised wildlife refuges in excess of 150,000 acres for the federal government; but I have also appraised plenty of small 5-acre rural tracts for individuals. I truly enjoy the variety and the challenge of the appraisal business.

CAREER HIGHLIGHTS: HOLSTEIN APPRAISALS. Certified General Real Estate Appraiser specializing in complex income-producing agricultural properties, conservation easements, rural estate properties, and general agri-business. 2005 – Present TETRA TECH. Louisville, KY Operations Manager in charge of a 30-person engineering office specializing in water/wastewater system design, structural engineering, and environmental engineering. 1997 – 2008. RADIAN INTERNATIONAL LLC. Staff Environmental Engineer, Raleigh, NC and Louisville, KY, specializing in air quality, air pollution control technologies, and water quality projects. 1994 – 1997. U.S. ARMY. Military Intelligence Officer in the airborne forces, serving in a variety of command and staff positions in the 519th Military Intelligence Battalion, including command of a POW interrogation company and other operational intelligence units in a variety of theaters of operation in peacetime and combat. 1985 - 1994

CLIENTS: GOVERNMENT USDA Farm Service Agency USDA NRCS US Department of the Interior US Fish and Wildlife Service South Carolina Forestry Commission CORPORATE/PRIVATE We work for a variety of commercial lenders, agricultural lenders, agricultural real estate investment trusts (REITs), farm management operations, capital investment groups, and land trusts.

CERTIFICATIONS: EDUCATION BEYOND GENERAL CERTIFICATION COURSES U.S. Brownfield Association, Valuation of Environmentally Damaged Properties, Chicago, IL, 2006 Conservation Easements Seminar, Columbia, SC, 2007 FHA Appraisal Certification, Charleston, SC, 2007 Timberland Valuation Seminar, Columbia, SC, 2008 Valuation of Historic Properties, Charleston, SC, 2009 Foreclosure and REO Properties, Columbia, SC, 2010 Environmental Considerations for Appraisers, Columbia, SC, 2010 Environmentally Damaged Income Properties, Columbia, SC, 2010 Uniform Appraisal Standards for Federal Land Acquisition (Yellow Book), Denver, CO, 2012 Conservation Easements—Tax Implications, IRS, Columbia, SC 2013 Appraisal of Poultry Facilities, Greensboro, NC, 2017

REGISTRATIONS Certified General Appraiser SC 5509 | NC A7477 | GA 345673 Registered Professional Engineer SC #25438 (inactive) KY #21325 (inactive)

District 1 Representative, Batesburg-Leesville SC Planning Commission Member, South Carolina Professional Appraisers Coalition Associate Member, The Appraisal Institute

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70

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MooreFRPP

71

DEED INFORMAT IO N

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72

PROPERTY CARD

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5/11/18, 2(49 PMOconee County Assessor's Office

Page 1 of 1http://qpublic5.qpublic.net/ga_display_dw.php?county=sc_oconee&KEY=290-00-04-010

Recent Sales in Neighborhood Recent Sales in Area Previous Parcel Next Parcel Field Definitions Return to Main Search Oconee Home

Owner and Parcel InformationOwner Name MOORE PEGGY ELIZABETH B Today's Date May 11, 2018

Mailing Address 199 TWIN OAKS LANE Parcel Number 290-00-04-010 Tax ID: 38877

WESTMINSTER, SC 296930000 Tax District (District 001)

Location Address 2015 Millage Rate

Legal Description (34.318 AC) Acres 34.318

Property Class / Property Type / Farm with Living Unit Parcel Map

Neighborhood CENTER TWP

2016 Tax Year Value InformationLand Taxable Market Value Improvement Taxable Market Value Total Taxable Market Value

$ 109,200 $ 57,790 $ 166,990

Land InformationLand Type Frontage Effective Frontage Effective Depth Acres Square Footage

75 0 0 0 33.318 1,451,332

90 0 0 0 1 43,560

Residential Building Information

Occupancy Style Base AreaSq Ft

Finished Living AreaSq Ft Stories Interior

WallsExterior

WallsYearBuilt

EffectiveYear Built

11 11 Ranch 1,102 1,102 1.0 Normal for Class MASONRY VENEER 1962 1962

RoofMaterial

RoofType

RoofFrame

RoofPitch

HeatingType Rooms/Bedrooms/Bathrooms Grade Sketch

Asphalt Shingles Gable Std for class Wall units 5/3/1.5 Fair Show Building Sketch

Commercial and Miscellaneous Improvement InformationBuilding Type Year Built Eff Year Built Length/Width/Height Size Grade Sketch

ICP 0 0 22 / 12 / 0 264 Show Sketch

UTILROOM 1995 1995 10 / 10 / 1 100 SF Avg Show Sketch

UTLSHED 1987 1987 8 / 8 / 10 64 SF Avg Show Sketch

Sale InformationSale Date Sale Price Deed Book / Page Qualification Reason Grantor Grantee

No Sales Information available for this parcel

Recent Sales in NeighborhoodRecent Sales in Area Previous Parcel Next Parcel Field Definitions Return to Main Search Page Oconee Home

The Oconee County Assessor's Office makes every effort to produce the most accurate information possible. No warranties, expressed or implied, are provided for the data herein,its use or interpretation. Website Updated: May 10, 2018

© 2012 by the County of Oconee, SC | Website design by qpublic.net

Richard Holstein
House has 1 full bath and 3 bedrooms
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5/30/18, 3)15 PMOconee County Assessor's Office

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Recent Sales in Neighborhood Recent Sales in Area Previous Parcel Next Parcel Field Definitions Return to Main Search Oconee Home

Owner and Parcel InformationOwner Name MOORE PEGGY ELIZABETH B Today's Date May 30, 2018

Mailing Address 199 TWIN OAKS LANE Parcel Number 290-00-04-080 Tax ID: 1068932

WESTMINSTER, SC 296930000 Tax District (District 001)

Location Address 2015 Millage Rate

Legal Description (2.481 AC) Acres 2.481

Property Class / Property Type / Residential 1 Family Parcel Map

Neighborhood CENTER TWP

2016 Tax Year Value InformationLand Taxable Market Value Improvement Taxable Market Value Total Taxable Market Value

$ 13,690 $ 52,180 $ 65,870

Land InformationLand Type Frontage Effective Frontage Effective Depth Acres Square Footage

90 0 0 0 1 43,560

93 0 0 0 1.481 0

Residential Building Information

Occupancy Style Base AreaSq Ft

Finished Living AreaSq Ft Stories Interior

WallsExterior

WallsYearBuilt

EffectiveYear Built

Single family 32 Traditional 3,472 2,315 1.0 Normal for Class FRAME SIDING 1909 1909

RoofMaterial

RoofType

RoofFrame

RoofPitch

HeatingType Rooms/Bedrooms/Bathrooms Grade Sketch

Metal Hip Std for class Forced hot air 6/3/4.5 Low Show Building Sketch

Commercial and Miscellaneous Improvement InformationBuilding Type Year Built Eff Year Built Length/Width/Height Size Grade Sketch

No miscellaneous information available for this parcel.

Sale InformationSale Date Sale Price Deed Book / Page Qualification Reason Grantor Grantee

No Sales Information available for this parcel

Recent Sales in NeighborhoodRecent Sales in Area Previous Parcel Next Parcel Field Definitions Return to Main Search Page Oconee Home

The Oconee County Assessor's Office makes every effort to produce the most accurate information possible. No warranties, expressed or implied, are provided for the data herein,its use or interpretation. Website Updated: May 23, 2018

© 2012 by the County of Oconee, SC | Website design by qpublic.net

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� ���� APN� ����������MOORE� PEGGY ELIZABETH B(����������)

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AcreValue © ����Granular� Inc� All Right Reserved�Use of this report is subject to Granular’s Terms of Service� All information is provided without any express or implied warranties of any kind�Land prices are estimates of valuation and not certified appraised values�

Ownership� � of �

Page 144: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective

MooreFRPP

73

ENGAGEMENT LETT ER Engagementwasviaemailandtelephone.

Page 145: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective
Page 146: A G E N D A - Oconee County, SC...2019/11/19  · 34.3 acres, all of which will be subject to a USDA NRCS Farm and Ranchland Protection Program (FRPP) con-servation easement. The effective