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<br />Ms. Elena Dei Campillo, Planning and Zoning Technician <br />City of Sunny Isles Beach <br />June 20, 2006 <br />Page 2 <br /> <br />Based on the inspection of the propeliy and the investigation and analyses undertaken, I have formed <br />the opinion that, as of June 20, 2006, the subject property, based on its highest and best use, has a <br />Market Value of: <br /> <br />FIVE MILLION ONE HUNDRED FIFTY THOUSAND DOLLARS <br /> <br />($5,150,000) <br /> <br /> <br />JMQ/pq <br />(06-132) <br />