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Supporting Documentation · Feb 19, 2019

RockSpringCluB-Hendricks Appraisal.pdf

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Karen Carnevale, R.M.C. Municipal Clerk Township of West Orange February 16, 2019 The appraisal is based on a complete, personal inspection of the property conducted by Mark E. Hendricks on February 14, 2019 along with a substantial number of prior (informal) inspections. In addition, the appraiser had also been a member of Rock Spring Club during the period 1974 to 2001. | have accepted as accurate and correct the dimensions of the site as depicted on the Tax Maps of the Township of West Orange, Essex County, New Jersey. | have also accepted as accurate and correct the data contained on the survey of the property prepared by G.C. Stewart Associates dated June 30, 2014. A copy of both the municipal tax maps and the survey have been reproduced elsewhere in this appraisal. This appraisal is made subject to the underlying assumptions, definitions, and limiting conditions set forth in the report. The appraisal report has been prepared in conformity with the Uniform Standards of Professional Appraisal Practice (USPAP) applicable to this type of appraisal report. I trust you will find this narrative appraisal report to be complete and its conclusions sound. Very tluly yours, NS Markle, lendricks, CRE, FRICS, CTA, SCGREA New Jersey State Certified General Real Estate Appraiser Hendricks Appraisal Company, LLC Real Estate Appraisals, Research & Consulting MEH:mm REAL ESTATE APPRAISALS @ OB reseancu

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