EAGLE COUNTY VACANT LAND SALES 7/01/2014-6/30/2016

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1 *USTED SALE : The amount for which a property sold adjusted for market conditions (inflation or deflation) between the date of sale and the date of appraisal (6/30/16) AG PROPERTIES IRRIGATED FARM LAND 2 5 TON R LAKE CREEK RD /30/15 1,690,000 1,690,000 LAKE CREEK FARM Lot: 2 R HWY /10/15 319, ,102 LEHMANN S S H & I R HWY /10/15 2,000,000 2,000,000 BASALT & EL JEBEL AG PROPERTIES DRY GRAZING 25 A AUM LEHMANN S B (PART OF) SPLIT BY TAX AREA -OTHER IS R R EMMA RD Tract: 58 Section: 11 Township: 8 Range: 87 12/30/14 1,200,000 1,200,000 PCLIN R /30/14 87,500 87,500 PLEASANT VALLEY RANCH TRACT 9 EAST VAIL & BOOTH FALLS BIGHORN R MAIN GORE DR S /1/15 1,375,000 1,375,000 VAIL MEADOWS FIL 1 Lot: 15 VAIL CORE FOREST ROAD WEST R & 826 FOREST RD /13/15 8,450,000 8,450,000 VAIL VILLAGE FILING6 Block:1 Lot:14&15 MID VAIL NON-CORE POTATO PATCH R SANDY LN /23/15 1,500,000 1,500,000 VAIL POTATO PATCH FIL 2 Lot: 5 GLEN LYON R WESTHAVEN CIR /4/14 2,731,300 2,731,300 GLEN LYON SUBDIVISION Lot: 38 R WESTHAVEN CIR /5/15 2,750,000 2,750,000 GLEN LYON SUBDIVISION Lot: 31 R GREENHILL CT /24/16 2,900,000 2,900,000 GLEN LYON SUBDIVISION Lot: 13 WEST VAIL & INTERMOUNTAIN BUFFEHR CREEK R ASPEN GROVE LN /19/14 1,550,000 1,550,000 LIONS RIDGE FIL 4 Block: 2 Lot: 9 R ASPEN GROVE LN /1/16 1,825,000 1,825,000 LIONS RIDGE FIL 4 Block: 2 Lot: 9 WEST VAIL SOUTH R W GORE CREEK DR /3/15 700, ,000 VAIL VILLAGE WEST FIL 2 Lot: 10 HIGHLAND MEADOWS R VERMONT CT /2/15 1,050,000 1,050,000 HIGHLAND MEADOWS Lot: 26 & TRACT C R & 2277 ALPINE DR /27/15 1,600,000 1,600,000 HIGHLAND MEADOWS FIL2 Lot19A &19B INTERMOUNTAIN Data/Inventory as of sales date 1/16 5/1/2017

2 *USTED SALE : The amount for which a property sold adjusted for market conditions (inflation or deflation) between the date of sale and the date of appraisal (6/30/16) R BASINGDALE BLVD /16/15 380, ,000 VAIL INTERMTN DEV SUB (LT 13) Lot: 6 R BASINGDALE BLVD /14/16 975, ,000 BOULDERS SUBDIVISION Lot: 14A, B & C WEST VAIL NORTH R CORTINA LN /2/14 600, ,000 VAIL RIDGE Block: B Lot: 13 R DAVOS TRL /10/16 700, ,000 VAIL RIDGE Block: B Lot: 18 MINTURN & RED CLIFF MINTURN NORTH R TAYLOR ST /14/14 250, ,000 SULLIVAN SUBDIVISION Lot: 18 MINTURN R HWY /20/15 309, ,400 SOUTH MINTURN ADDITION Lot: 43N1/2 R MAIN ST /9/16 300, ,000 SOUTH MINTURN ADDITION Lot: 23B REDCLIFF RED CLIFF Block: P Lot: 2, Subdivision: R WATER ST /24/15 50,000 50,000 RED CLIFF LOT 10, BLK P NE1/2 OF RIO GRANDE AVENUE EAGLE-VAIL & AVON AVON RESIDENTIAL R HWY /3/15 2,850,000 2,850,000 EAGLE RIVER AT AVON Lot: 1 R HWY /15/16 200, ,000 Section: 11 Township: 5 Range: 82 PCLIN- NW1/4NW1/4 HERTAGE WHISKY HILL R DAISY LN /8/15 400, ,000 WHISKEY HILL Lot: 11 EAGLE VAIL R DEER RUN /3/15 290, ,000 EAGLE-VAIL FIL 1 Block: 7 Lot: 4 R DEER BLVD /28/15 235, ,000 EAGLE-VAIL FIL 2 Block: 4 Lot: 68 R DEER BLVD /9/16 215, ,000 EAGLE-VAIL FIL 2 Block: 4 Lot: 67 WILDRIDGE R WILDRIDGE RD W /14/14 277, ,000 WILDRIDGE SUBDIVISION Block:3 Lot: 26 R FLAT POINT /30/14 230, ,000 WILDRIDGE SUBDIVISION Block:3 Lot: 37 R WILDRIDGE RD W /27/15 290, ,000 WILDRIDGE SUBDIVISION Block:3 Lot: 21 R WILDRIDGE RD W /25/15 153, ,300 WILDRIDGE SUBDIVISION Block:3 Lot: 10A R LONGSUN LN /23/15 260, ,000 WILDRIDGE SUBDIVISION Block:4 Lot: 47 R WILDRIDGE RD /8/15 275, ,000 WILDRIDGE SUBDIVISION Block:1 Lot: 110 R WILDRIDGE RD E /11/15 375, ,000 WILDRIDGE SUBDIVISION Block:4 Lot: 79 Data/Inventory as of sales date 2/16 5/1/2017

3 *USTED SALE : The amount for which a property sold adjusted for market conditions (inflation or deflation) between the date of sale and the date of appraisal (6/30/16) R WILDRIDGE RD E /22/15 280, ,000 WILDRIDGE SUBDIVISION Block:4 Lot: 38 R WILDRIDGE RD E /22/15 470, ,000 WILDRIDGE SUBDIVISION Block:4 Lot: 39 R JUNE CREEK TRL /14/15 375, ,000 WILDRIDGE SUBDIVISION Block:2 Lot: 20 SINGLETREE BERRY CREEK LOWER R LONGHORN RD /4/15 355, ,000 BERRY CREEK RANCH FIL 2 Block:5 Lot: 14 R HOWARD DR /20/15 310, ,000 BERRY CREEK RANCH FIL 2 Block:2 Lot: 30 R PRAIRIE CIR /27/15 272, ,500 BERRY CREEK RANCH FIL 2 Block:5 Lot: 2 R RAWHIDE RD /3/15 218, ,000 BERRY CREEK RANCH FIL 2 Block:1 Lot: 17 R JUNE CREEK RD /20/15 430, ,000 BERRY CREEK RANCH FIL 2 Block:6 Lot: 7 R RAWHIDE RD /23/16 300, ,000 BERRY CREEK RANCH FIL 2 Block:1 Lot: 2 R LARIAT RD /14/16 525, ,000 BERRY CREEK RANCH FIL 3 Block:1 Lot: 2 BERRY CREEK UPPER R MUSTANG RD /9/15 580, ,000 BERRY CREEK RANCH FIL 4 Block:5 Lot: 3 R CORRAL RD /15/15 575, ,000 BERRY CREEK RANCH FIL 4 Block:5 Lot: 32 R APPALOOSA DR /17/15 510, ,000 BERRY CREEK RANCH FIL 4 Block:2 Lot: 26 R FOAL CIR /9/16 435, ,000 BERRY CREEK RANCH FIL 4 Block:2Lot: 46 BEAVER CREEK & BACHELOR GULCH MOUNTAIN STAR R PAINTBRUSH /28/15 757, ,000 MOUNTAIN STAR Lot: 37 R CHIMING BELLS /11/15 1,075,000 1,075,000 MOUNTAIN STAR Lot: 67 BEAVER CREEK R HOLDEN RD /23/14 BEAVER CREEK SUB 4TH FIL Block:2 Lot: 2,775,000 2,775, TRACT J BACHELOR GULCH R DAYBREAK RDG /22/15 2,825,000 2,825,000 BACHELOR GULCH VILLAGE FIL 1 Lot: 23 ARROWHEAD ARROWHEAD SFR NORTH/SOUTH R RIVERBEND DR /29/15 1,100,000 1,100,000 ARROWHEAD AT VAIL FIL 10 Lot: 20 EDWARDS & BELLYACHE AREA Data/Inventory as of sales date 3/16 5/1/2017

4 *USTED SALE : The amount for which a property sold adjusted for market conditions (inflation or deflation) between the date of sale and the date of appraisal (6/30/16) PILGRIM DOWNS R PILGRIM DR /31/15 750, ,000 PILGRIM DOWNS Lot: 14 FILING 6 LAKE CREEK R LAKE CREEK RD /1/14 350, ,000 PARK PLACE 2 RED SKY RANCH R RED SKY RD /22/14 289, ,000 RED SKY RANCH Lot: 1 R EAGLE FEATHER /27/15 422, ,500 RED SKY RANCH Lot: 77 R ASPEN BLUFF LN /3/15 450, ,000 RED SKY RANCH Lot: 6 RED SKY CLUSTER R JUNIPER TRL /13/14 240, ,000 RED SKY RANCH RESUB TRACT AALot: 28 R WILDFLOWER LN /24/15 210, ,000 RED SKY RANCH RESUB TRACT AALot: 46 R WILDFLOWER LN /14/15 237, ,500 RED SKY RANCH RESUB TRACT AALot: 40 R JUNIPER TRL /21/15 225, ,000 RED SKY RANCH RESUB TRACT AALot: 27 R JUNIPER TRL /15/16 185, ,000 RED SKY RANCH RESUB TRACT AALot: 25 LARGE BELLYACHE WOLCOTT R BELLYACHE RIDGE RD /14/14 245, ,000 TRAVIS CREEK SUBDIVISION Lot: 3 R JOUFLAS RANCH RD /12/15 300, ,000 TRAVIS CREEK SUB FILING 2 Lot: 3 CREAMERY GULCH RANCH R ROLLING HILLS DR /7/14 1,255,000 1,255,000 CREAMERY RANCH Lot: 3 R OLD CREAMERY RD /18/15 950, ,000 CREAMERY RANCH Lot: 12 EDWARDS TRACTS R HWY /1/14 800, ,000 Section: 6 Township: 5 Range: 82 3 R HWY /31/15 325, ,500 Section: 6 Township: 5 Range: 82 PCLIN NW1/4 HOMESTEAD FIL 2 R RUSSELL TRL /22/14 305, ,000 HOMESTEAD FIL 2 Block: 15 Lot: 8 R GOLD DUST DR /18/15 365, ,000 HOMESTEAD FIL 2 Block: 14 Lot: 8 BRETT RANCH R BRETT TRL /26/15 481, ,000 BRETT RANCH SUBDIVISION Lot: 12 CORDILLERA CORDILLERA RANCH R RED DRAW /8/14 93,000 93,000 CORDILLERA SUB FIL 11 Lot: 24 R PEREGRINE DR /24/14 80,000 80,000 CORDILLERA SUB FIL 17 Block: 1 Lot: 3 R SETTLERS LP /2/14 95,000 95,000 CORDILLERA SUB FIL 27 Lot: 30 Data/Inventory as of sales date 4/16 5/1/2017

5 *USTED SALE : The amount for which a property sold adjusted for market conditions (inflation or deflation) between the date of sale and the date of appraisal (6/30/16) R FENNO DR /7/14 78,000 78,000 CORDILLERA SUB FIL 9 Lot: 23 R GRAHAM RD /28/14 105, ,000 CORDILLERA SUB FIL 27 Lot: 52 R GRAHAM RD /14/14 100, ,000 CORDILLERA SUB FIL 27 Lot: 49 R FENNO DR /5/14 275, ,000 CORDILLERA SUB FIL 9 Lot: 7 R RED DRAW /16/14 87,000 87,000 CORDILLERA SUB FIL 10 Lot: 1 R FOREST TRL /23/15 450, ,000 CORDILLERA SUB FIL 9 Lot: 18 R BEARDEN RD /31/15 400, ,000 CORDILLERA FIL 24/BEARDEN PCL Lot: 25 R PEREGRINE DR /14/15 130, ,000 CORDILLERA SUB FIL 17 Block: 1 Lot: 12 R ELK SPRING TRL /3/15 365, ,000 CORDILLERA FIL 24/BEARDEN PCL Lot: 1 R ASPEN MEADOWS RD /9/16 225, ,000 CORDILLERA FIL 24/BEARDEN PCL Lot: 58 R BLACK BEAR TRL /18/16 69,000 69,000 CORDILLERA SUB FIL 17 Block: 2 Lot: 5 R ELK SPRING TRL /21/16 479, ,000 CORDILLERA FIL 24/BEARDEN PCL Lot: 1 R SADDLE RIDGE /30/16 260, ,000 CORDILLERA SUB FIL 8 Lot: 3 TRACT E TERRITORIES R WINCHESTER TRL /23/14 430, ,000 CORDILLERA SUB FIL40 Lot: 1 R WINCHESTER TRL /22/15 400, ,000 TERRITORIES AT CORDILLERA Lot: 19 CORDILLERA SUMMIT R GORE TRL /5/15 225, ,000 CORDILLERA SUB FIL 34 Block: 1 Lot: 10 R POMMEL PL /2/15 92,500 92,500 CORDILLERA SUB FIL 37 Lot: 28 R POMMEL PL /2/15 92,500 92,500 CORDILLERA SUB FIL 37 Lot: 29 R MARTINGALE LN /2/15 92,500 92,500 CORDILLERA SUB FIL 37 Lot: 31 R MARTINGALE LN /2/15 92,500 92,500 CORDILLERA SUB FIL 37 Lot: 30 R CAVESSON CT /2/15 92,500 92,500 CORDILLERA SUB FIL 37 Lot: 22 R CAVESSON CT /2/15 92,500 92,500 CORDILLERA SUB FIL 37 Lot: 25 R GORE TRL /2/15 92,500 92,500 CORDILLERA SUB FIL 37 Lot: 16 PHASE 2 R PRITCHEL PL /2/15 92,500 92,500 CORDILLERA SUB FIL 37 Lot: 12 PHASE 2 R CANTLE PL /2/15 92,500 92,500 CORDILLERA SUB FIL 37 Lot: 19 PHASE 2 R CANTLE PL /24/15 175, ,000 CORDILLERA SUB FIL 37 Lot: 19 PHASE 2 R LADY BELLE WY /29/15 95,000 95,000 CORDILLERA SUB FIL 34 Block: 4 Lot: 3 R JACKSONS PATH /9/16 140, ,000 CORDILLERA SUB FIL 34 Block: 2 Lot: 5 R STAGECOACH /10/16 85,000 85,000 CORDILLERA SUB FIL 36 Block: 1 Lot: 15 R GORE TRL /19/16 200, ,000 CORDILLERA SUB FIL 34 Block: 1 Lot: 3 CORDILLERA RANCH CLUSTER Data/Inventory as of sales date 5/16 5/1/2017

6 *USTED SALE : The amount for which a property sold adjusted for market conditions (inflation or deflation) between the date of sale and the date of appraisal (6/30/16) R TIMBER TRAIL LN /16/15 90,500 90,500 THE RANCH/CORDILLERA Lot: 32 PHASE II CORDILLERA VALLEY CLUB TIMBER SPRINGS R TIMBER SPRINGS DR /15/14 650, ,000 TIMBER SPRINGS Lot: 6 CORDILLERA VALLEY CLUB FIL 7 R WILMOR DR /7/14 425, ,000 CORDILLERA VALLEY CLUB FIL 3 Lot: 6 R ELK RUN DR /5/15 575, ,000 CORDILLERA VALLEY CLUB FIL 3 Lot: 10 R JUNIPER LN /11/15 686, ,000 CORDILLERA VALLEY CLUB FIL 1 Lot: 19 R BEARD CREEK TRL /11/15 580, ,000 CORDILLERA VALLEY CLUB FIL 2 Lot: 16 R BEARD CREEK TRL /12/15 525, ,000 CORDILLERA VALLEY CLUB FIL 2 Lot: 14 R LEGACY TRL /1/15 410, ,000 CORDILLERA VLY CL F9 LEGACY TR Lot: 20 R BEARD CREEK TRL /3/16 320, ,000 CORDILLERA VALLEY CLUB FIL 4 Lot: 8 CORDILLERA DIVIDE CORDILLERA DIVIDE R CORDILLERA WY /15/15 125, ,000 CORDILLERA SUB FIL 1 & 2 Lot: 33 FIL 2 R GRANADA GLEN /21/15 99,000 99,000 CORDILLERA SUB 3 RESUB Lot: 2 R GRANADA GLEN /29/16 99,000 99,000 CORDILLERA SUB 3 RESUB Lot: 2 R GRANADA GLEN /30/16 100, ,000 CORDILLERA SUB 3 RESUB Lot: 2 OUTLYING I-70 CORRIDOR MINING CLAIMS W/ ACCESS Section: 33 Township: 7 Range: 83 MINE: R BURNT MOUNTAIN RD /14/14 550, ,000 ALISEE MINE: ALABAMA MINE: DURANT BLUFF MINE: LIME BLUFF MINE: OLD MISSOURI HIGHLAND MEADOWS AT CASTLE R CASTLE PEAK RANCH RD /22/15 540, ,000 HIGHLAND CASTLE PEAK Lot: 2 R CASTLE PEAK RANCH RD /24/16 575, ,000 HIGHLAND CASTLE PEAK Lot: 5 PATENTED MINING CLAIMS W/ ACCESS R /15/15 5,000 5,000 MINE: LITTLE MOLLIE OUTLYING <1 AC-2.99 AC Data/Inventory as of sales date 6/16 5/1/2017

7 *USTED SALE : The amount for which a property sold adjusted for market conditions (inflation or deflation) between the date of sale and the date of appraisal (6/30/16) R SWEETWATER RD /3/14 25,000 25,000 Tract: 51A Section: 31 Township: 3 Range: 86 PCLIN 701 OUTLYING 100 AC> Tract: 43 Township: 4 Range: 86 PART OF R SWEETWATER RD /23/15 600, ,000 Section: 8 Township: 4 Range: 86 SW1/4NE1/4, PCLIN LOT 16 & LOTS 2-4 BOND AREA R BOND RD /31/16 45,000 45,000 Section: 21 Township: 2 Range: 83 LOT OUTLYING 21 AC AC MINE: NO NAME MINE: TIGER R /20/16 172, ,000 LODE MINE: WILDCAT LODE MINE: MAIN LODE WATERFORD RANCH Section: 7 Township: 3 Range: 83 R /13/14 67,000 67,000 SW1/4NE1/4 HORSE MOUNTAIN RANCH Section: 21 Township: 3 Range: 83 R /2/14 50,000 50,000 SE1/4NE1/4 HORSE MOUNTAIN RANCH Section: 21 Township: 3 Range: 83 R /17/14 75,000 75,000 SW1/4SE1/4 (PT OF), TOGETHER WITH (+/-) IN SE1/4SW1/4 HORSE MOUNTAIN RANCH Section: 21 Township: 3 Range: 83 R /26/15 50,000 50,000 SE1/4SE1/4 HORSE MOUNTAIN RANCH Section: 29 Township: 3 Range: 83 R /8/15 60,000 60,000 NW1/4NE1/4 HORSE MOUNTAIN RANCH Section: 29 Township: 3 Range: 83 R /8/15 50,000 50,000 NE1/4NE1/4 HORSE MOUNTAIN RANCH Section: 18 Township: 3 Range: 83 R /14/15 105, ,000 SW1/4NE1/4 HORSE MOUNTAIN RANCH Data/Inventory as of sales date 7/16 5/1/2017

8 *USTED SALE : The amount for which a property sold adjusted for market conditions (inflation or deflation) between the date of sale and the date of appraisal (6/30/16) Section: 20 Township: 3 Range: 83 R /23/15 78,000 78,000 NW1/4NW1/4 HORSE MOUNTAIN RANCH Section: 17 Township: 3 Range: 83 R /13/15 55,000 55,000 SE1/4NW1/4 HORSE MOUNTAIN RANCH Section: 20 Township: 3 Range: 83 R TRAIL DUST LN /3/16 105, ,500 SE1/4SW1/4 HORSE MOUNTAIN RANCH Section: 30 Township: 3 Range: 83 R /15/16 80,000 80,000 SE1/4NW1/4 HORSE MOUNTAIN RANCH Section: 20 Township: 3 Range: 83 R ALKALI CREEK RD /3/16 85,000 85,000 SE1/4NW1/4 HORSE MOUNTAIN RANCH Section: 20 Township: 3 Range: 83 R HORSE MTN RANCH RD /15/16 60,000 60,000 NW1/4NE1/4 HORSE MOUNTAIN RANCH Section: 7 Township: 3 Range: 83 R /28/16 80,000 80,000 NE1/4NE1/4 HORSE MOUNTAIN RANCH 901 OUTLYING 3 AC AC R SILOAM SPRINGS DR /2/15 125, ,000 SILOAM SPRINGS PUD Lot: OUTLYING 11 AC AC R EBY CREEK RD /8/15 75,000 75,000 Section: 20 Township: 4 Range: 84 PCLIN LOT 1 R SPRING CREEK RD # /27/15 400, ,000 UTE SPRINGS RANCH Lot: OUTLYING 21 AC AC R SALT CREEK RD /14/16 300, ,000 WHITTAKER RURAL HOMESITES 3 & 4 3 OUTLYING BASALT & EL JEBEL 301 OUTLYING < 1 AC AC R HWY 82 # /1/16 217, ,500 HAT CREEK SUBDIVISION Lot: OUTLYING 3 AC AC R COTTONWOOD PASS RD /29/16 180, ,000 MARY TERESA MCNULTY EXEMPTION Lot: OUTLYING 21 AC AC Data/Inventory as of sales date 8/16 5/1/2017

9 *USTED SALE : The amount for which a property sold adjusted for market conditions (inflation or deflation) between the date of sale and the date of appraisal (6/30/16) R FRYING PAN RD /26/16 750, ,000 OTTO CREEK SUBDIVISION OUTLYING 31 AC AC R FRYING PAN RD /16/15 350, ,000 Section: 6 Township: 8 Range: 84 SE1/4NE1/4 R RUEDI CREEK RD /2/16 425, ,000 Section: 6 Township: 8 Range: 84 GOVERNMENT LOT 2 SEVEN CASTLES AREA R STACKYARD LN /29/16 344, ,000 CASTLE VIEW Lot: 4 REUDI SHORES AREA R MCLAUGHLIN LN /27/14 56,000 56,000 RUEDI SHORES Lot: 42 R WILD STRAWBERRY LN /19/16 50,000 50,000 RUEDI SHORES FIL 2 Lot: 24 R WAPITI WY /4/16 39,000 39,000 RUEDI SHORES FIL 2 Lot: 26 R MCLAUGHLIN LN /13/16 110, ,000 RUEDI SHORES Lot: 30 TEN PEAKS MESA R /23/15 245, ,000 COULTER CREEK RANCHES Lot: 6 EAGLE EBY CREEK MESA R MESA DR /30/14 105, ,690 EBY CREEK MESA Lot: A-99 PHASE II-B R NEILSON GULCH RD /22/15 107, ,211 EBY CREEK MESA Lot: A-135 PHASE II-B R NEILSON GULCH RD /1/15 120, ,240 EBY CREEK MESA Lot: A-141 PHASE II-B R NEILSON GULCH RD /30/15 130, ,030 EBY CREEK MESA Lot: A-152 PHASE II-B R JUNIPER LN /15/15 145, ,270 EBY CREEK MESA Lot: 33 R NEILSON GULCH RD /13/16 115, ,830 EBY CREEK MESA Lot: A-154 PHASE II-B E OF EAGLE ALONG HWY 6 R HWY /22/15 475, ,000 RED MOUNTAIN RANCH FIL 4 Lot: 8 CANYONWOODS BLUFFS R SECOND ST /28/14 67,000 99,361 BLUFFS AT EAGLE Lot: 38 R BLUFFS DR /19/14 76, ,516 BLUFFS AT EAGLE Lot: 24 R BLUFFS DR /15/15 81, ,749 BLUFFS AT EAGLE Lot: 118 R BLUFFS DR /29/15 95, ,955 BLUFFS AT EAGLE Lot: 30 UPPER KAIBAB R GREEN MOUNTAIN DR /15/15 185, ,045 EAGLE HILLS SUBDIVISION Lot: 7 R GREEN MOUNTAIN DR /16/16 195, ,380 EAGLE HILLS SUBDIVISION Lot: 9 R GREEN MOUNTAIN DR /21/16 195, ,000 KAIBAB FIL 2 Lot: 46 Data/Inventory as of sales date 9/16 5/1/2017

10 *USTED SALE : The amount for which a property sold adjusted for market conditions (inflation or deflation) between the date of sale and the date of appraisal (6/30/16) FUTURE DEVELOPMENT S R SYLVAN LAKE RD /18/15 700, ,300 WEST EAGLE ADDITION FILING 2 Lot: 1 FROST CREEK FROST CREEK PUD R FROST CREEK DR /23/15 150, ,000 FROST CREEK Lot: 63 R GRAY ROCK DR /23/15 225, ,000 FROST CREEK Lot: 58 R GRAY ROCK DR /4/15 175, ,000 FROST CREEK Lot: 14 R GRAY ROCK DR /6/15 315, ,000 FROST CREEK Lot: 56 R GRAY ROCK DR /9/15 325, ,000 FROST CREEK Lot: 23 R BORAH SPUR /20/15 337, ,500 FROST CREEK Lot: 20 R FROST CREEK DR /23/15 350, ,000 FROST CREEK Lot: 67 R GRAY ROCK DR /30/15 150, ,000 FROST CREEK Lot: 26 R FROST CREEK DR /2/15 650, ,000 FROST CREEK Lot: 39 R FROST CREEK DR /23/15 400, ,000 FROST CREEK Lot: 45 R FROST CREEK DR /28/15 270, ,000 FROST CREEK Lot: 66 R BORAH SPUR /6/16 250, ,000 FROST CREEK Lot: 21 R CREEK SIDE LN /11/16 450, ,000 FROST CREEK Lot: 68 R GRAY ROCK DR /15/16 200, ,000 FROST CREEK Lot: 28 R FROST CREEK DR /8/16 300, ,000 FROST CREEK Lot: 44 R GRAY ROCK DR /11/16 175, ,000 FROST CREEK Lot: 15 EAGLE RANCH Data/Inventory as of sales date 10/16 5/1/2017

11 *USTED SALE : The amount for which a property sold adjusted for market conditions (inflation or deflation) between the date of sale and the date of appraisal (6/30/16) EAGLE RANCH MID R AIDAN RD /28/15 97, ,245 EAGLE RANCH FILING 23 Lot: 15 EAGLE RANCH R HARVESTER CT /31/14 115, ,385 EAGLE RANCH FILING 21 Lot: 32 R ASTER CT /6/14 100, ,600 EAGLE RANCH FILING 24 Lot: 4 R N PENSTEMON LN /12/14 85, ,205 EAGLE RANCH FILING 22 Lot: 5 R EAGLE RANCH RD , 9/22/14 107, ,847 EAGLE RANCH FILING 14 Lot: 38 R EAGLE RANCH RD /1/14 115, ,900 EAGLE RANCH FILING 4 Block: 6 Lot: 50 R N PENSTEMON LN /7/14 95, ,700 EAGLE RANCH FILING 22 Lot: 11 R IRIS PL /9/14 109, ,348 EAGLE RANCH FILING 3 Block: 5 Lot: 4 R CLOVER LN /21/14 172, ,350 EAGLE RANCH FILING 24 Lot: 52 R RIGHT LADY BELLE PL /7/14 100, ,700 EAGLE RANCH FILING 8 Block: 10 Lot: 14 R NEW YORK MTN RD /3/14 185, ,290 EAGLE RANCH FILING 25 Lot: 56 R FOURTH OF JULY RD /11/15 116, ,128 EAGLE RANCH FILING 22 Lot: 46 R HARRIER CIR /12/15 115, ,920 EAGLE RANCH FILING 8 Block: 10 Lot: 34 R SEVEN HERMITS DR /11/15 95, ,525 EAGLE RANCH FILING 1 Block: 1 Lot: 29 R HARRIER CIR /29/15 122, ,204 EAGLE RANCH FILING 8 Block: 10 Lot: 30 R MOUNT JACKSON CT /1/15 190, ,110 EAGLE RANCH FILING 25 Lot: 30 R HARVESTER CT /15/15 90, ,210 EAGLE RANCH FILING 21 Lot: 24 R HAYSTACKER DR /9/15 115, ,518 EAGLE RANCH FILING 1 Block: 2 Lot: 15 R HAYSTACKER DR /6/15 129, ,447 EAGLE RANCH FILING 1 Block: 2 Lot: 12 R HARVESTER CT /8/15 170, ,310 EAGLE RANCH FILING 21 Lot: 38 R HARRIER CIR /20/15 115, ,445 EAGLE RANCH FILING 8 Block: 10 Lot: 33 R E HAYSTACKER DR /27/15 225, ,175 EAGLE RANCH FILING 24 Lot: 57 R LONE SPUR /31/15 160, ,880 EAGLE RANCH FILING 3 Block: 3 Lot: 49 R HARVESTER CT /5/15 100, ,000 EAGLE RANCH FILING 21 Lot: 31 R N PENSTEMON LN /14/15 122, ,425 EAGLE RANCH FILING 22 Lot: 23 R E DOUBLE HITCH /25/15 80,000 90,400 EAGLE RANCH FILING 1 Block: 3 Lot: 17 R SAWMILL CIR /2/15 98, ,466 EAGLE RANCH FILING 1 Block: 2 Lot: 16 R THRESHER CT /8/15 93, ,439 EAGLE RANCH FILING 21 Lot: 18 R EAGLE RANCH RD /15/15 155, ,135 EAGLE RANCH FILING 14 Lot: 35 R NEW YORK MTN RD /14/15 220, ,880 EAGLE RANCH FILING 25 Lot: 59 R E HAYSTACKER DR /16/15 137, ,800 EAGLE RANCH FILING 24 Lot: 25 R EAGLE RANCH RD /17/15 90,000 97,020 EAGLE RANCH FILING 14 Lot: 20 R HARVESTER CT /30/15 125, ,750 EAGLE RANCH FILING 21 Lot: 36 Data/Inventory as of sales date 11/16 5/1/2017

12 *USTED SALE : The amount for which a property sold adjusted for market conditions (inflation or deflation) between the date of sale and the date of appraisal (6/30/16) R EAGLE RANCH RD /8/16 105, ,825 EAGLE RANCH FILING 4 Block: 6 Lot: 55 R SAWMILL CIR /19/16 85,000 89,420 EAGLE RANCH FILING 1 Block: 2 Lot: 25 R ROBINS EGG LN /4/16 147, ,822 EAGLE RANCH FILING 3 Block: 6 Lot: 7 R SEVEN HERMITS DR /15/16 115, ,990 EAGLE RANCH FILING 1 Block: 1 Lot: 26 R W DEWEY PARK /28/16 163, ,238 EAGLE RANCH FILING 3 Block: 3 Lot: 56 R SAWMILL CIR /20/16 97,500 98,475 EAGLE RANCH FILING 1 Block: 2 Lot: 22 R E HAYSTACKER DR /27/16 155, ,550 EAGLE RANCH FILING 24 Lot: 35 R N PENSTEMON LN /3/16 99,900 99,900 EAGLE RANCH FILING 22 Lot: 22 R ROBINS EGG LN /7/16 160, ,000 EAGLE RANCH FILING 3 Block: 6 Lot: 15 R E HAYSTACKER DR /22/16 190, ,000 EAGLE RANCH FILING 25 Lot: 81 R BIG SAGE CT /26/16 100, ,000 EAGLE RANCH FILING 22 Lot: 63 GYPSUM WILLOWSTONE R PL /24/16 62,500 62,500 WILLOWSTONE Lot: 36 EAGLE RIVER ESTATES 919 & 920 R WHISTLERS CT /1/15 88,000 88,000 WHISTLER'S COVE Lot: 7 CHATFIELD CORNERS R STONEY CREEK ST /29/14 58,000 58,000 CHATFIELD CORNERS FIL II Block: J Lot: 7 R STONEY CREEK ST /22/16 71,500 71,500 CHATFIELD CORNERS FIL II Block: J Lot: 7 BRIGHTWATER BRIGHTWATER R HARES EAR /3/14 29,000 29,000 BRIGHTWATER CLUB FILING 2 THE MEADOWS Lot: 34 R DOLL STATION /9/14 29,900 29,900 BRIGHTWATER CLUB FILING 5 RANCHVIEW Lot: 60 R FOXPROWL /14/15 34,000 34,000 BRIGHTWATER CLUB FILING 2 THE MEADOWS Lot: 14 R DOLL STATION /22/15 33,000 33,000 BRIGHTWATER CLUB FILING 5 RANCHVIEW Lot: 45 R TALLGRASS /5/15 40,000 40,000 BRIGHTWATER CLUB FILING 4 CREEKSIDE Lot: 1 R FOXPROWL /10/15 25,000 25,000 BRIGHTWATER CLUB FILING 2 THE MEADOWS Lot: 40 R BUCKTAIL /22/15 65,000 65,000 BRIGHTWATER CLUB FILING 2 THE MEADOWS Lot: 48 Data/Inventory as of sales date 12/16 5/1/2017

13 *USTED SALE : The amount for which a property sold adjusted for market conditions (inflation or deflation) between the date of sale and the date of appraisal (6/30/16) R TALLGRASS /25/15 42,500 42,500 BRIGHTWATER CLUB FILING 4 CREEKSIDE Lot: 14 R BLUESTEM /23/15 36,500 36,500 BRIGHTWATER CLUB FILING 2 THE MEADOWS Lot: 25 R DOLL STATION /8/16 35,000 35,000 BRIGHTWATER CLUB FILING 5 RANCHVIEW Lot: 56 R HERONS /8/16 42,500 42,500 BRIGHTWATER CLUB FILING 2 THE MEADOWS Lot: 75 R FOXPROWL /18/16 45,000 45,000 BRIGHTWATER CLUB FILING 2 THE MEADOWS Lot: 8 R TALLGRASS /28/16 49,000 49,000 BRIGHTWATER CLUB FILING 4 CREEKSIDE Lot: 13 BRIGHTWATER CLUSTER R HEARTHSTONE /3/14 28,000 28,000 BRIGHTWATER CLUB FILING 3 CABINS & HOMESTEADS Block: J Lot: 3 R BRIDLE PATH /22/15 24,000 24,000 BRIGHTWATER CLUB FILING 3 CABINS & HOMESTEADS Block: K Lot: 20 GYPSUM NEW DEVELOPMENTS HARDSCRABBLE R AMHERST RD /15/15 110, ,000 HARDSCRABBLE RANCH Lot: 16 R AMHERST RD /29/15 118, ,000 HARDSCRABBLE RANCH Lot: 13 SPRING CREEK R CHAPARRAL RANCH RD /26/15 69,000 69,000 HIGH CHAPARRAL RANCH Lot: 10 COTTON RANCH R WHITETAIL DR /14/14 79,000 79,000 COTTON RANCH PUD TIMBERWOLF FILING 3 Lot: 3D R COYOTE PL /20/14 66,000 66,000 COTTON RANCH PUD FIL 4 Lot: 163 R BLACK BEAR /26/14 55,000 55,000 COTTON RANCH PUD FIL 1 Lot: 54 R BLACK BEAR /21/15 26,500 26,500 COTTON RANCH PUD FIL 1 Lot: 3 R COYOTE PL /16/15 65,000 65,000 COTTON RANCH PUD FIL 4 Lot: 162 R BLACK BEAR /20/15 55,000 55,000 VILLAGE AT COTTON RANCH Lot: 7B R WHITETAIL DR /22/15 57,000 57,000 COTTON RANCH PUD TIMBERWOLF FILING 3 Lot: 136 R BLACK BEAR /16/15 75,000 75,000 COTTON RANCH PUD FIL 1 Lot: 49 R RED FOX DR /15/15 75,000 75,000 COTTON RANCH PUD TIMBERWOLF FILING 3 Lot: 97 Data/Inventory as of sales date 13/16 5/1/2017

14 *USTED SALE : The amount for which a property sold adjusted for market conditions (inflation or deflation) between the date of sale and the date of appraisal (6/30/16) R BLACK BEAR /15/16 60,000 60,000 COTTON RANCH PUD FIL 1 Lot: 38 R BLACK BEAR /29/16 60,000 60,000 COTTON RANCH PUD FIL 1 Lot: 8 SKY LEGEND R FOX HOLLOW /25/15 44,000 44,000 SKY COTTON RANCH FILING 1 Lot: 69-C R FOX HOLLOW /22/15 50,000 50,000 SKY COTTON RANCH FILING 1 Lot: 67-C R LEGEND DR /2/16 52,500 52,500 SKY COTTON RANCH FILING 1 Lot: 71-C TWO RIVERS VILLAGE R PIKE CIR /28/15 22,000 22,000 TWO RIVERS VILLAGE Block: 8 Lot: 14 PHASE I R RAINBOW CIR /4/15 22,000 22,000 TWO RIVERS VILLAGE Block: 6 Lot: 23 PHASE I R STEPHENS DR /2/15 70,000 70,000 TWO RIVERS ESTATES Lot: 4 BASALT & EL JEBEL SOPRIS MEADOWS DEVELOPED R SOPRIS CIR /6/15 175, ,000 SOPRIS MEADOWS ONE FIL 2 Lot: 33 R SOPRIS CIR /31/15 182, ,000 SOPRIS MEADOWS ONE FIL 2 Lot: 24 R VALLEY CT /22/16 195, ,000 SOPRIS MEADOWS ONE FIL 6 Lot: 15 R JUNIPER CT /30/16 210, ,000 SOPRIS MEADOWS ONE FIL 5 Lot: 37 LAURA J ESTATES R BIG PINON /25/15 205, ,000 LAURA J ESTATES Lot: 4 BLUE LAKE FIL 1-3 R VALLEY CT /30/15 100, ,000 VALLEY VIEW HOMES SUBDIVISION Lot: 17 BLUE LAKE FIL 5 R BLACK BEAR TRL /9/15 70,000 70,000 BLUE LAKE PUD FIL V Block: 10 Lot: 19 R BUCKSKIN DR /12/15 165, ,000 BLUE LAKE PUD FIL V Block: 11 Lot: 13 TEN PEAKS MESA R /13/15 250, ,000 Section: 4 Township: 7 Range: 87 PCLIN SE1/4 PLEASANT VALLEY RANCH LOT 2 Section: 3 Township: 7 Range: 87 PCLIN SW1/4 R TEN PEAKS MESA RD /8/16 288, ,000 TEN PEAKS MESA Lot: 2 MOUNTAIN MEADOWS Data/Inventory as of sales date 14/16 5/1/2017

15 *USTED SALE : The amount for which a property sold adjusted for market conditions (inflation or deflation) between the date of sale and the date of appraisal (6/30/16) R BLUE CREEK TRL /25/15 175, ,000 MOUNTAIN MEADOW RANCH FIL 1 Lot: 12 FOX RUN MEADOWS R GREEN MEADOW DR /22/15 252, ,500 ASPEN MOUNTAIN VIEW FIL 2 Lot: 16 (THE MEADOWS) R ESCALANTE /14/15 235, ,000 ASPEN MESA EST REFILE 8-13 Block: B Lot: 7 R FOX RUN DR /14/15 150, ,000 FOX RUN MEADOWS PUD Lot: 24 R CABALLO /26/15 180, ,000 ASPEN MESA ESTATES UNIT II Lot: 22 R ESCALANTE /18/16 230, ,000 ASPEN MESA EST REFILE 8-13 Block: B Lot: 8 MINTURN & RED CLIFF COMMERCIAL LAND MINTURN COMMERCIAL R HWY /2/16 467, ,301 GROUSE CREEK SUBDIVISION Lot: 1 R HWY /2/16 57,700 57,700 GROUSE CREEK SUBDIVISION Lot: 2 R HWY /20/16 325, ,000 EAGLE-VAIL & AVON COMMERCIAL LAND AVON OUTLYING COMMERCIAL R BUCK CREEK RD /2/15 3,593,600 3,593,600 EDWARDS AREA COMMERCIAL 201 OUTLYING 3 AC AC Section: 26 Township: 5 Range: 81 PCLIN NW1/4 BUCK CREEK SUBDIVISION FILING 1 Lot: 1A R HWY /31/16 900, ,000 VAIL CHRISTIAN HIGH SCHOOL PUD Lot: 2 COMMERCIAL CONDO LAND R I-70 SPUR RD /3/14 255, ,000 OUTLYING AREAS COMMERCIAL LAND 901 OUTLYING 51 AC AC R HWY /29/14 1,245,000 1,245,000 EAGLE & GYPSUM COMMERCIAL LAND CHAMBERS ROAD COMM DESC: PT OF GCE Subdivision: EDWARDS STATION CONDO Tract: 55 Section: 4 Township: 5 Range: 86 PCLIN ADA TRACT J Tract: 55 Section: 4 Township: 5 Range: 86 PCLIN S1/2NW1/4,N1/2SW1/4 Data/Inventory as of sales date 15/16 5/1/2017

16 *USTED SALE : The amount for which a property sold adjusted for market conditions (inflation or deflation) between the date of sale and the date of appraisal (6/30/16) R CHAMBERS AVE /20/14 503, ,400 EAGLE COMMERCIAL PARK Block:1 Lot: 5 R CHAMBERS AVE #B /11/15 200, , CHAMBERS AVENUE SUBDIVISION Lot: 2 RESUBDIVSION OF LOT 1 R CHAMBERS AVE /7/16 1,200,000 1,200,000 KEMP SUBDIVISON Lot: C-13 EAGLE I70 EXIT COMM R /3/15 215, ,100 Section: 32 Township: 4 Range: 84 PCLIN NE1/4 GYPSUM COMMERCIAL R OAK RIDGE CT /23/14 209, ,000 GYPSUM CREEK CENTER FIL 1 Block: 2 Lot: 4 R /27/15 216, ,000 I K BAR RANCH/EAGLE COUNTY SCHOOLS Lot: 3C AIRPORT R AIRPARK DR /10/14 175, ,000 VALLEY AIRPARK FIL 1 Lot: 12C R SPRING CREEK CIR /18/14 200, ,000 SPRING CREEK INDUSTRIAL SUBDIVISION Lot: 12 R GILDER WY /16/15 198, ,200 VALLEY AIRPARK FIL 4 Lot: 39 R ALPINE RANCH RD /9/15 285, ,200 AIRPORT COMMERCE CENTER FILING 1 Lot: 4 R ALPINE RANCH RD /9/15 285, ,200 AIRPORT COMMERCE CENTER FILING 1 Lot: 5 R ALPINE RANCH RD /18/16 146, ,400 AIRPORT COMMERCE CENTER FILING 1 Lot: 8 BASALT & EL JEBEL COMMERCIAL LAND EL JEBEL COMMERCIAL R MARKET ST /30/14 WILLITS TOWN CENTER PUD 2ND 2,260,000 2,260,000 AMENDED BLOCK 12 R /11/16 16,500 16,500 TRIANGLE PARK LOFTS Unit: P-01 Data/Inventory as of sales date 16/16 5/1/2017