3. Tax Equalization Board reconvenes

IFile No 20042251 Paoe #171 MULTI-PURPOSE SUPPLEMENTAL ADDENDUM FOR FEDERALLY RELATED TRANSACTIONS Wastweet Appraisal & Consutting, Inc. Borrower/Client Arvid & Pamela Handeaard Prooertv Address 298 Manle Or Citv Maaleton Countv Cass State NO ZiD Code 58059-4018 Lender Citizens State Bank of Lankin This Muttl-Purpose Supplemental Addendum for Federally Related Transactions was designed to provide the appraiser wtth a convenient way to comply wtth the current appraisal standards and requirements of the Federal DeposR Insurance Corporation (FDIC), the Office of the Comptroller of Currency (OCG), The Office of Thrift Supervision (OTS), the Resolution Trust Corporation (RTC), and the Federal Reserve. This Multi-Purpose Supplemental Addendum Is for use with any appraisal. Only those statements which have been checked by the appraiser apply to the property being appraised. ~ PURPOSE & FUNCTION OF APPRAISAL The purpose of the appraisal is to estimate the market value of the subject property as defined herein. The function of the appraisal is to assist the above-named Lender in evaluating the subject property for lending purposes. This is a Federally related transaction. ~ EXTENT OF APPRAISAL PROCESS ~ The appraisal is based on the information gathered by the appraiser from public records, other identified sources, inspection of the subject property and neighborhood, and selection of comparable sales wRhin the subject market area. The original source of the comparables is shown in the Data Source section of the market grid along wtth the source of confirmation, If available. The original source is presented first. The sources and data are considered reliable. When conflicting information was provided, the source deemed most reliable has been used. Data believed to be unreliable was not included in the report nor used as a basis for the value conclusion. ~ The Reproduction Cost is based on Marshall & Swift Residential Cost Handbook supplemented by the appraiser's knowledge of the local market. ~ Physical depreciation is based on the estimated effective age of the subject property. Functional am\'or extemal depreciation, II present, is specllically addressed in the appraisal report or other addenda. In estimating the slle value, the appraiser has relied on personal knowledge of the local market. This knowiedge is based on prior and/or current analysis of sRe saies and/or abstraction of sRe values from sales of improved properties. ~ The subject property is located in an area of primarily owner-occupied single family residences and the Income Approach is not considered to be meaningful. For this reason, the Income Approach was not used. ~ The Estimated Market Rent and Gross Rent Muttiplier utilized in the Income Approach are based on the appraiser's knowledge of the subject market area. The rental knowledge is based on prior and/or current rental rate surveys of residential properties. The Gross Rent Muttiplier is based on prior and/or current analysis of prices and market rates for residential properties. ~ For income producing properties, actual rents, vacancies and expenses have been reported and analyzed. They have been used to project future rents, vacancies and expenses. ~ SUBJECT PROPERTY OFFERING INFORMATION According to MLS the subject property: D has not been offered for sale in the past: o 30 days 01 year D 3 years. ~ is currently offered for sale for $ 123000 ~ was.Jlf1erel1 tor sale wRhin the past: o 30 days ~ 1 year o 3 years for $ 124000 ~ Offering Information was considered in the final reconciliation ot value. D Offering information was not considered in the final reconciliation of value. D Offering information was not available. The reasons for unavailability and the steps taken by the appraiser are explained later in this addendum. ~ SALES HISTORY OF SUBJECT PROPERTY According to MLS/Countv Records the subject property: 0 has not transferred in the past twelve months. ~ has not transferred in the past thirty-six months. 0 has transferred in the past twelve months. o has transterred in the past thirty-six months. 0 All prior sales which have occurred in the past twelve months are listed below and reconciled to the appraised value, eRher in the body of the report or in the addenda. Date Sales Price Document # Seller Buyer ~ FEMA FLOOD HAZARD DATA ~ Subject property ~ in a FEMA Special Flood Hazard Area. 0 Subject property ~ in a FEMA Special Flood Hazard Area. I Zone FEMA Map/Panel # Map Date Name of Community I X500 3800230001C 2/2/2002 Manleton D The communRY does not participate in the National Flood Insurance Program. ~ The communRY does participate in the National Fiood Insurance Program. ~ It is covered by a reaulaJ: program. 0 It is covered by an ~ program. Page 1 of 2 Form MPA2 - "TOTAL for Windows" appraisal software by a ia mode, inc. -1-BOO-ALAMODE