BROKERAGE*ENVIRONMENTAL PLANNING *PROPERTY MANAGEMENT*APPRAISAL

PRC Real Estate Broker Lic. No. 320 / PRC Real Estate Appraiser Lic. No. 5555
PRC Environmental Planner License No. 1045 / PhilRES Membership No. 888
International REALTOR® Member, National Association of Realtors (NAR) USA
Email: 888bentulanrealty@gmail.com Cell No: 0932 9347 888 / 0935 4775 888
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September 20, 2019

HON. DON RITCHIE P. BUATES

Municipal Mayor
Alburquerque, Bohol

RE: APPRAISAL OF A PARCEL OF LOT LOCATED IN STA. FELOMINA, ALBUR,

BOHOL

CAD LOT NO. 2558

Tax Declaration No. 2016-01-0009-00545
Lot Area: 41,244 square meters
Registered Owner: MUNICIPAL GOVERNMENT OF ALBURQUERQUE

Sir:

Greetings!

In compliance with your request, I have completed a thorough investigation and

appraisal of the above-captioned property on September 20, 2019. This is for the
purpose of expressing a professional opinion on the property’s fair market value with
due consideration to the following:

▪ Extent, character and utility of the property;

▪ Sales offers and holding prices of similar land;
▪ Local government assessment and zoning system of real property;
▪ Highest and best use of the property; and
▪ Marketability of the property.

Attached herewith is the summary of valuation, also containing a brief analysis of

general and specific data utilized to substantiate the appraisal value. Market data
and cost approaches to valuation were employed.
As a result of my investigation and survey, it is my professional opinion that the
aforementioned property warrants a fair market value, as of date of this appraisal, in
the amount of:

FORTY FIVE MILLION THREE HUNDRED SIXTY EIGHT THOUSAND FOUR

HUNDRED PESOS ONLY (PhP 45,368,400.00)

This is to further certify that, except for expressing an opinion of value, I have no
present or prospective interest, either directly or indirectly, in the property or in the
use of this appraisal. As to my best knowledge and competence, all statements and
opinions contained in the report are correct and in accordance with established and
accepted appraisal techniques and methodology as practiced in the Philippines under
the present economic, social and political conditions.

Should you have questions in connection with the attached report, or any other
queries regarding appraisal matters, please do not hesitate to contact the
undersigned.

Thank you and best regards.

Sincerely yours,

MALUNDE R. BENTULAN, REALTOR®

EnP, REA, REB, LPT, LlB, BSCE
Professional Real Estate Appraiser No. 0005555
LIMITING CONDITIONS

1. The appraiser assumes that under responsible ownership, the declared owner
is the presumed owner of the property.

2. The appraisal shall be made on the land and include any and all
improvements or income thereat.

3. All existing liens and encumbrances were considered in the investigation, and
the property was appraised under responsible ownership.

4. The appraiser, by reason of the appraisal, is not required to give testimonial

or attendance in court or to any government agency with reference to the
subject property, unless arrangements have been previously made therefore.

5. The appraiser assumes no responsibility for title to or liabilities against the

property unless an official request for authentication of owner’s duplicate
copy of titles with ROD files was pre-arranged.

6. No relocation survey was made to pinpoint the exact boundaries of the

property.

7. The appraiser assumes that the property, as currently used, is not in

contravention of any planning or similar government regulations.

8. Erasures on the appraisal date and values invalidate this appraisal report.

9. Neither the whole nor any part of this report and valuation, nor any reference
thereof, may be included in any documents, circular or statement without the
appraiser’s written approval of the form or content in which it will appear.

10. The appraisal report is invalid unless it bears the signature of the appraiser.