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DAVID A. SMITH, MAI, SRA <br /> <br />2007 FRONT STREET <br />DURHAM, NORTH CAROLINA 27705 <br />PHONE (919) 493-1534 <br />smithappraiser@frontier.com <br /> <br />February 20, 2026 <br /> <br />Alan Dorman, Director <br />Asset Management Services <br />306 Revere Rd. <br />Hillsborough, 27278 <br /> <br />Thank you for the request for a fee simple appraisal of a property located at 401 Valley <br />Forge Road in Hillsborough, North Carolina. <br /> <br />The intended use of the appraisal is for possible sale purposes. The intended users of the <br />appraisal are officers and employees of Orange County. <br /> <br />The property will be valued as of the date of inspection. The appraisal will be prepared <br />in accordance with the Uniform Standards of Professional Appraisal Practice and the <br />supplemental Standards of Professional Appraisal Practice and Code of Professional <br />Ethics of the Appraisal Institute. <br /> <br />The report will be in the standard appraisal report format. My fee for the appraisal would <br />be $3,500. The report will be completed within three weeks of being instructed to <br />proceed. My fee does not include any testimony, consultation or other issues but I am <br />available if these become necessary. <br /> <br />The report will be sent to you or anyone you designate by e-mail. <br /> <br />If this is acceptable, please contact me. Thank you for this opportunity, and I look <br />forward to working with you. If you have any questions, please let me know. <br /> <br />Sincerely, <br /> <br /> <br />David A. Smith, MAI, SRA <br />State-Certified General Real Estate Appraiser #A281 <br /> <br /> <br />Docusign Envelope ID: CD325103-B351-4365-A6E3-9AEB6012F015