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IDENTIFICATION OF PROPERTY <br /> OWNER OF RECORD: Melvin Parrish <br /> PREVIOUS OWNER: <br /> ACQUIRED ON; Dec . 1972 PRICE: <br /> DEED BOOK: 239 PAGE: 451 <br /> REAL ESTATE TAX DATA <br /> County: Orange Township: Chapel Hill Mao: 113 C `17A <br /> Assessment : Land $ 11 , 894 Buildings : $ Total : $ 11 ,1694 <br /> ZONING DATA <br /> The subiect property is zoned R-1 which Permits residential <br /> development on a lot with a minimum size of 40, 000 so. ft . and a <br /> minimum width of 130 ft . <br /> PURPOSE OF APPRAISAL - <br /> The purpose of this appraisal is to determine the fair market value of <br /> the property as of the date mention to enable the purchase of the <br /> property... <br /> DEFINITION OF FAIR MARKET VALUE <br /> Fair Market Value as estimated herein is defined as being "the hiahset <br /> price in terms of money which a property will bring if exposed to sake <br /> in the open market , allowing a reasonable period of time to find a <br /> purchaser who buys with a knowledge of all uses to which it is <br /> adaptable and for which it is capable of being used. " . <br />