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<br />UNIFORIv..,ES I.~~NTIA,=- APPRAISAL REI~I_-I~~ B~"L._.--.
<br />. . = s ._."_._ _. .~QQ_ Comments On Co..t Approach (9L1(:h as, ~our'ce of cost f.t'I3bmiJtt.t
<br />EPRODUCTJON C05T-N~\tV.OF IMF>ROVEMENTS: stttJ value. squar~ foo1 c<:IlculatIOl1 and fOf HUD, VA and Fm!-'iA (ho
<br />._._ 1,.768 " Sq. Ft @ 5 --Z~~".5 ._'.' .. 132~pO.Q estimated remain'n(;l "c"no",'" 101", or the properly): The
<br />._.LZ6.e.._.sq Ft. fB S -2..Q.O.O ,._" ..__::1.5 36Q lr.eIDillDIO~Q.(TIk_Jj,ftLfgL t1:HL.?\JblsLgj:~-eslilTl.atefL_
<br />.__,._.._ ~aL~-'1.QLQ)l:i m a t~y AQ.~~.~..I:L.c.Q.lla.Wfj! re~.vE:IJ.Q.Q!;;1.d ._.
<br />alClIrport . 784 "Sq 1'"1. @.s _20.,00_ = __... .~~..~80 (r9m M~rshall &...$wift I.J3oeG.k.f:1...QmiLguide_9.f1r;1 co~ts
<br />inIIl ElIPmllted CO!It NtJW .. .5 _. ..---1fl:3......~..Q Q...b1ain.~gJl:Qm.!Q.ggi..bLlj~. . .Si1.e..,y ;;jJy..!iL'tla $.__..
<br />:.::--....on Ph~~."-'I41564.0,... f_un_cti.'on_BI ..1 Extarnal 15 .~tracteJ;LftQ.!Il...l.p.~a' sili:!. sale$.., External.. '---'
<br />.......~..." l---1.Q...5.2~_ as ..._._. ._~!;!~L bs e.$~en~~..~ o.n the ,subie!;t.fQr...Q...sm1WiQwr:L......,
<br />)epradllled VlIlue 01 Impro"""'en,,, ~ S ._.__-.!l.~.f;>5 ~,~.~el wlt.l:1~pl.llatioi1..Qf less. than .,E1P~.oPl!;l__.
<br />Iv. ." Vlllue or Stt.. Impro"..men"'. ".5 "_.___"__'_' ____co. ._'
<br />"DlCATED VALue BY COST APP~OACH = $ 65 est Rum econ L.i1o' . ~'--r=-s ~_
<br />..._I.~.. _ _~YBJECT .. CO""'~!; NO, 1. ..._" COMPARABLE NO :2 COMPARABLE NO 3
<br />240 4th Ave, w:_. 323 2nd 51. E 'I --.- .152 5th'Ave, w.--' '.." .- 203"j;:;-d A'-;~. W....
<br />.<'Idr""",_ Hu er ._... ,.J::!!ll.tt~L....N.Q ..__... ._' .._tl!,(D.~r ND ._ _.. .~,.,:, ..__ .HlI.Dter~ND.._..
<br />
<br />::::p.~c= S~bJ~_ ~_ '_." ;';,('M~"i,,,;,,,:',;i,:Z-;: b, ~~~_.- 06- .;', -;-';., .\t~~15.-6-6oo~- ~..~~IOC-IsJL'.o.o'OQ'-"
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<br />:!!<:,.alGro~~~a .ft~.,0(:,~,:\",:~,~,::', $ A$...;;.9 _ tZF~L".i;j.;:;. ..s. ._M,;3.L....-. (I_--,--
<br />'ilia ..nellor ,8uyerIS~lIer. 'Seller BuverIS~,'lIer'
<br />fIlfific.atlon Source < .., .
<br />
<br />...-.-..,--, ----.- - -, I I
<br />--:=~/qL-.....=.=:=7!.~.~~. -'"
<br />...._ H.un!BL...I-__. H!Jnt.~r,__-,.
<br />.E.~IJ::lli2le _" .___....--+- _ Fee.~1.r.llill~ :.._....
<br />__1i;l,Q.illLS.F._.__ ,.1.__.1 5 000 Sf_~_.
<br />.-8y',f{I...IR~... ___i:\V.5l.Res" ........L._.
<br />_.____" ... ~J..~ __Ranch _..:..__"
<br />
<br />~- .-'+5 00:. ...--&i:.r;~o ..~~ .---=... - -J. ~~;r~~. 'I~ -=.-___m_.
<br />. . +3 00 . . Aver ge.-P;OOd , ._ __ _ -;<1t~ver~re _ ...:':.~Q.O.
<br />
<br />.-~~_" T~." ~~:.rrl.~ __=- --.-." . TI~i~T~t~6-L_----'
<br />..____...:':.:1..00 .1.?ZQ._S.q l':'!"r-- _ .. _ ,WOB ..~.sL.BJ.._
<br />.__. _~~o _+. ~1:~~ I _.:r~.wl Space :
<br />_. ___ _. _ I' __..6Y.!ilr.aJllL..~_-' _,_u' _._..Ave.raQ.€L._,
<br />___?.WFAlDYLC,AC . - "---i VVFA/QU(9-6..c.....;.__.,.._...._
<br />.__ _ to~rn.W!ru1o'oYs __.. __ _ .s.\orro Winqo~.~_!-___.... ..._"
<br />_ __ ,,2,..QO .. ..__.&G.Art._____. i.2...9..9 _ . ..2.=G..8rt ,.---<__ .. +,?_~OO
<br />
<br />~(_~:~9.Q~~: . :~nt~~ $!-~:~;i;~~;~:~~~ ;_~...~.=~~~m~
<br />
<br />
<br />:ljlJ'8t1td SRI... Price ;.:f.tl~.t.~1~: . C , " . I I
<br />compor.!!.!!!!t,,_,__. _._.t:!.6.000 ",-,..,\,<, 95000 _ .64.50Q..
<br />Jmm..nm On S.I.... Comp"rioon (Including Iha ..uhj..ct property's co"'p"tiblilty 10 Ihe nB;(;lhborhood. etc); Lr.eJi.!:ild somewtla_L.2D....5'!lL_llJr.e..!;l. _____.._.
<br />;omparal<le $ale~ in arrivino aUhe MarkeULalue for tb.!'ll Subiect.-89justment fO.L~ize w~_p-er Sa, F.~..~alid the
<br />l~..!!n.U.9.r the larQ~ 9araae s.!-!.~lect 28' ,,;.2.6'. to SElI.e,,1ot.tJ:2 and #3 .w~s $2.00Q.~,.~lso. a $2.QO.o adiustm~nt. to.mL_.
<br />~~ for the sJwI.b.iect.s he,J;lted floor l;I_~ement 9a.caae. and dr.lvewav~~Ij:1 #1 was tbe o!J.l.y~f1at.tl.<;!Q...;3___......
<br />~a5emeoL~..#,~ includel~t~ adde!1.9.0. sun room ;iiI.nd was a!:tl.4~ted accQ.rp-lD.9lY~...asljustme..D.l.s..9.!:! sale::>.#J.
<br />UlIt1l2~. "ljlI.--12t. Q. (less end"J!1ese 5 _ received t,b..e mos jQ,bt In the li.tl.l;Jlanalvsis~
<br />
<br />;;P~::~nd-D;;;"-JH;;",;:f~~d Hos ';;;;1P:o%":; ~~~\2-- Hos n':,~":;'~i;;~;,":,22f's ~~~;":o't~A,~f;~i'2-- -
<br />
<br />>uree, for prior 8al.... in the past 3 months previous to sale. months previolJs to sale months previous to sale
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<br />~.!!-~~.p-!!.J:ri~1 ~_,....._.___. ~ _________.__...__ . __~_ ______.. ..- --' _._--.-- .-.--~---.-.
<br />~ of' .ny CUlT""'" ""~",.nt of ...1.., cptlon, or '''-titlg Qr Ih. .utlj~t ~r-tny and .ml;l~i. Qr ""y prior 'Ulft"; or .ubJRC.t end cQrnparablesa ......IU'jn on__ yeM or Iho dQhll 01 IIppl"al&.tll
<br />;ubject v.:ij~ apprals~d to det~rmjne its msu:J5el valu", .foJ~~I.b.e.Jnco~p.p(9acD w~.s n.'!.! usect.a~ nearlv ElJl ... -~-
<br />ID;L~ in the mar.ket are QY;.ner occuo.l~_r;l. . .__.___......n___...._.._-. ...-.--, -,-_..... ..-.-
<br />CleATED vAL.UE BY SAL.ES COMPARISON APPROACH . . . $ .._..__.._~QQ
<br />DICATe:o VALUE PY INCOME APPROACH If A Ilcebl.. E..tlmat"d M",ke\ R..nl.5 . 1M."" Gro".. R<onl Mu~1 Ih" ~$ ._.~L
<br />'ds apprill;..118 madu L~ "a~ 115" $ubJect to the repuif$, aneratiO"~. ins;ectlens or condttions -listed below SUbject to c:::ornplollon per pl&ns .nOd $~ecr1k.aflons
<br />,ndttlol'lA or "-ppr"'....1: 8.QJ2HIJ.S,.;31 is subJec.tJo the atta!;;.b.ed !i1ill.s!.m.Emt..9.1Jir:n.illIl9.!=<l!:lnditions_",n~. <:l-p..p.LE;!isal !?Y..P..p.lqm~fll '.~
<br />lJ:1d is aopr"l:;lised "As .Is".,_ ThBrSL.I.;;t,,~oma cairlU2eeJing on .th.e....me!al sidlJJg. ...--. ,,"'-'-'"-''' ..-..-...--.-:- i
<br />M' Roconcmation: ~.d.ldQon Iht;LqU;;tntity and tb,~ Quality of..rn~.rket data........!!'. well as gjf1eJ: facts_R(e\{j,Q..u~k.mentIOn.lt.\:L.... '()
<br />ho.J~ales C.ompar;~_Q.D.Ap..Rroachj,?.c.Qns;dered t,Q.fil mosl ac~.I"I.rl)lJe reflectiQ[\,Q.f th~et..a.od wa!>..wt::.!ghled.._..__,. ". n'_ 1)
<br />~.Qln.gly,..in...tb~..Y<!lY..a1i 0 r:L_l.uLm.y-e.~t.i m a Ii 0 n tna.U.h e m a rke 1 y.a l.\..t~~f ...t.tJ..!;LJilbj,e. c;,.~. .8 ~....Q.L4L~jQ 4 .~.~,~...$.~O_O_O"
<br />,~ purpoAft (\1 thrs :llppri!li'f!.al is te @Isbmate the n'larkat \Jalue or the real property UnIt Is subject to this rfJport, baaed on tht'l ~bova conditions and the certiflc~tion. conbn!i:)~)rll
<br />It;! ijmiting cOl'lditions. and merket "alufl d"nnltlon thet are 8,at"d In 111.. altIOch"d Freddie Mac Form 4391Fel1ni.. MaB Form l00dS (Rovls"d _.n'" 6/9.~",:c:J.
<br />wE) EllTlMATF THE MARKET VALUE, AS DEF~!:.~!.~' THE RE/IoL PROPERTY THAT IS THE SUBJeCT 0.1" THIS REPORT. AS OF -..... .e...~~LQ!!.+-.
<br />wHICH IS~Hr; PATE OINspeC);j~ON FFEC't ATE OF THIS R~PORTl TO BE S___.." . 90.000. ..___....... ,I
<br />PPRAJS~,.....-.-..-.-;t?'",.' __ SUPERVISORY APPRAISER (ONl:( IF ReQUIRE.O);-''''~
<br />~..i!.... '" >-.~ . , ~A~.I!.r." ..___ _, ____.... ...._. [-"10'" .:D'dN'"
<br />~.__, " Tim' hvJ~, Tlmlan,.t'IR8..~.~ ......-:....._ Naml!. .. ..___.., .._______ "..._. In"pp.r.tP'opnrty
<br />Ill. R"po'1~!l.~ _8m:iJ....1.:).._2004 . '.'. ...... ..__' .... Dele Repo~1 ~)g!,,,!~.___... .. . .._n...
<br />_ Cart!l\cnlIon # ..~G-1 O~~. E~Q\[es...12l~11':~__;'i!!!'~",...-tJD ._. ~l.....9"rtIflcetion" .___._ ..._.._ ..5.1,,1"
<br />r SWtft Ue.enfl.e . __ ~~_.___ State Or State License 11 ______ Stete
<br />~ Mac Form 70 ~93 i;lir.~ORMS R_I E.t..r. ...pprui....i s....trw.1"U byOffl~rd Teuto"ofogln-. CtJOOlt'l22.0"/27 Fanni~ M;at.t Form 1004 (6u93}
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