RockSpringCluB-Hendricks Appraisal.pdf

DESCRIPTION OF PROPERTY THE IMPROVEMENTS Tennis Building - this is a one story frame structure utilized for tennis pro-shop and observation. It is located along the four (4) har-tru tennis courts and contains approximately 512 square feet. Guard-House - a one story masonry and frame structure containing approximately 90 square feet. Half-Way House - a one story masonry and frame snack-bar and restroom structure. The building contains approximately 256 square feet. Miscellaneous - three (3) elevated paddle tennis courts with an attached one story observation structure containing 290 square feet. Surface macadam paved and illuminated parking lots, both upper and lower having an approximate capacity for 172 vehicles. A non-descript driving range located along the north side of the eighteenth (18th) fairway. Golf Course - An extensive eighteen (18) hole championship caliber quality golf course featuring undulating terrain, a natural water hazard (Cable Lake), bunkers at various fairway locations along with positions at most greens. The Rock Spring Club has hosted a number of prestigious golf tournaments including the New Jersey State Open several times as well as the State Amateur championship. CONDITION Based on observations during the physical inspection, the building improvements were found to be in fair overall condition. Although winter weather conditions existed during the inspection by this appraiser, my most recent (golf) seasonal visit (August 2018) to the course revealed that the golf course, including the greens, fairways, tee boxes, hazards, bunkers, and cart paths were well maintained by a large ground maintenance staff and considered to be in good overall condition. Please refer to the photographic exhibits included elsewhere in this report. The client is advised that properties such as the subject, in the normal routine of maintaining a golf course and related areas, are treated and applied with chemical fertilizers and other compounds. In addition, these materials may also be stored in the grounds maintenance facilities located on the course. This appraiser did not observe any of the foregoing materials being stored on the property. Furthermore, due to the winter conditions existing during the inspection, he cannot comment as to ground observations. | therefore recommend that the client retain the services of an expert in this field for

more, due to the winter conditions existing during the inspection, he cannot comment as to ground observations. | therefore recommend that the client retain the services of an expert in this field for information of this type. Om REAL ESTATE APPRAISALS & RESEARCH