Free Motion for Summary Judgment - District Court of Delaware - Delaware

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UNITED STATES DISTRICT COURT
DISTRICT OF DELAWARE
ROBERT E. BROWN and, )
SHIRLEY H- BROWN, lsiw, ) (j_ A_ 04.517 SLR
i }
Plaintiffs, }
)
v. )
) JURY DEMANDED
INTERBAY FUNDING, LLC, and )
LEGRECA & QUINN REAL ESTATE )
SERVICES INC., )
)
Defendants. )

I, Robert Lagreca, hereby depose met 1 am a duly authorized representative of Luyarrecs &
Quinn Real Estate Services, Inc., a Defendant in the above-captioned matter, and that the fo` lowing
statements are true;
1. I nm a Certified General Rea,] Property Appraiser certified by the State ofDw:1¤wnrc
and the Commonweziltli of Pennsylvania.
2. I am a Senior Residential Member in good standing of thc Appraisal Institute.
3. My education, trairting and experience make me qualified to testify regarding the
Uniform Standands of Professional Appraisal Practice ofthe Appraisal Foundation (lieircinaftcr
“US`PAP") which is authorized by Congress as the source of Appraisal Standards mid A ppmisll
Qualification.
4. My education, training and experience make me qualified to testify regarding the
Standards of Professional Appraisal Prnetiee of the Appraisal Institute (hereinafter “SPAJ*"').

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5. The property at 2617. 2619 and 2625 Market Struct, Wilmingmn, Delaware, which
is the subject of the above-captioned litigation (hereinafmr ‘*subje.ct pmpcr:y“), consists 0 F three
separate tax parcels.
6. The subject property was appraised as one commercial unit consisting Of thri EWG-
stury dwelling cnnvcrtcd imo conunercial use with nn-site parking.
7. It is ine usual, cusmmury and accepted practice within thc business 0fRea1 Esmm
Appmisal tc dctemxine the value of commercial pmpzny located over more than one mx pascal as
u whole.
8. It is nm the usual. ordinary or accepted practice in the business of Rea! Esuate
Appraisal to appraise n single unix nfcommexcml property located on several tax parcels by valuing
cash tax parcel separately.
9. The appraisal ofthe subjmzt property as a commercial building with umsitu pm-king
conforms with the USPAP and thc: SPA?.
10. Standard Rule I-4(cz) cf USPAP states that the appraiser must analyze th: value "¤f
thc assembledgc ofthe. various estates and component parts 0i`lZh.c property and refrain from v¤]uinE
the whole solely by adding mgcnher che individual values ofthe various estates or compunem 1 pm·ts."
1 I , Standard Rule 3-1 (1*) ofUSPAP mandates that the appraiser dctzrmim: what appraisal
method is appropriate for the paniculax pmpcny to ba appraised and docs not require that all three
methods (Sales Cm-npm-isun Approach, Cust Approach and Income Approach) bc used on the
property nppmiséd
12. All analyses, cpinicms amd conclusions in the appraisal report provided to Int¤rb¤Y

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Funding, LLC, were prepared m conformity with the USPAP, thé SPA? Bud thc Cmdc °f
Professional Ethics .
@@1%*
Robert C. Lagrccu
sums OF . SS
Yy]'C COUNTY
sw0RN TO SUBSCRIBED before me the day and year ai°¤¤=9·¤id-
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Case 1:04-cv-00617-SLR

Document 74-2

Filed 04/04/2005

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Case 1:04-cv-00617-SLR

Document 74-2

Filed 04/04/2005

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Case 1:04-cv-00617-SLR

Document 74-2

Filed 04/04/2005

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