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IN THE MAGISTRATE DIVISION OF THE OREGON TAX COURT Property Tax SK HOTEL INVESTMENT CO., LLC, Plaintiff, v. JACKSON COUNTY ASSESSOR, Defendant. ) ) ) ) ) ) ) ) )

No. 000334D

DECISION APPROVING STIPULATION

This matter is before the court upon the oral stipulation of the parties. A case management conference was held on Wednesday, March 21, 2001. Mr. Timothy Matelich appeared on behalf of plaintiff. Mr. David Arrasmith, Commercial Appraiser, appeared on behalf of defendant. The parties discussed the substantial renovations made to the subject property prior to its sale on November 8, 2000. The parties orally agreed that the real market value of the property as of January 1, 1999, was the November 2000 sale price of $3,500,000 less the cost of the renovations for a total real market value of $2,600,000. Now, therefore;

IT IS THE DECISION OF THE COURT that the real market value of the subject property described as Account No. 1-032037-6 was, as stipulated for the 1999-2000 tax year: $2,600,000. /// /// /// /// /// DECISION APPROVING STIPULATION 1

IT IS FURTHER DECIDED that the county correct the assessment and tax rolls to reflect the above values. Any refund due following this correction is to be promptly paid with statutory interest pursuant to ORS 311.806 and 311.812. Dated this ____ day of March, 2001. _________________________________ JILL A. TANNER MAGISTRATE IF YOU WANT TO APPEAL THIS DECISION, FILE A COMPLAINT IN THE REGULAR DIVISION OF THE OREGON TAX COURT, FOURTH FLOOR, 1241 STATE ST., SALEM, OR 97301-2563. YOUR COMPLAINT MUST BE SUBMITTED WITHIN 60 DAYS AFTER THE DATE OF THE DECISION OR THIS DECISION BECOMES FINAL AND CANNOT BE CHANGED. THIS DOCUMENT WAS SIGNED BY MAGISTRATE JILL A. TANNER ON MARCH 23, 2001. THE COURT FILED THIS DOCUMENT ON MARCH 23, 2001.

DECISION APPROVING STIPULATION

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