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' Main J.i -17- - 6 9 5 Pa e#5
<br /> 1606'f401AW
<br /> Unifarm Residentia(A"p "raisai Report Fite/�17-17-6-1769935
<br /> This roport torm`is dosigned to repoA an appYaisal of a,bne-unif p[operty or a one-unit property tvith an accessory unit;
<br /> inclutlfng a unit in a.plan6ed unit development (PUD�. 7f�is report torm is not designed to report an app�aisal oi'a
<br /> maoutactured hame'or a unit.in a condominium or cooperative,project:
<br /> This appraisal report.is subject to the:`foltawing�scape ot ivork, intendetl�use, intendad user;�detinition of markat value,
<br /> ',state"ment�of'2ssumption5 and limiting candittons, and certificatlons. Modi(icatiQns,.:adtliGons, or ileletions to.the;intanded
<br /> use:.lntended<.user, detinftion of-market.value; oT.assumptions and. timit(ng conditions:ar`e not permitted.The appraiser'may
<br /> expand;ihe scope'of work to:inolude any addi{ional research or analysis necessary tiased.on.the complexity ot•this appraisal
<br /> assignment..Modifications or deletiohs to ihe.certifications are.atso not permitted. Hawever, additiona!certifications ihat do
<br /> �not constftuto tnaierial altarattoos'to this appraisal report,sucfi as tho'sa required by Iaw or those retated to thQ.appraisePs.
<br /> continutng education o'r memb'e�ship in an appraisal organ�zatfoa, a�e.porinined.
<br /> SCOPE.OF WORK: 1'he sqope of worii tor this,appra(sal ts defined hy the�COmpiexity of.this appraisal:assignment and the
<br /> reporting rcguirertients of'this app�aisai`repod form,.Including the•tollowing definition 6f maikot value, statement of
<br /> I assumptions and IimiCinp;condiUons, and cerUiicaUans.The appraiser must, at a minimum: (1) pectomn a complete visual
<br /> inspection of the interior and exterior ereas af the.subjeet propeAy,(2),.inspect the neighbofiood; (3).iospect each_ot the
<br /> camparabfe sales from at IoasC.tho_street, (4) �esaarch;trerity, and analyrza.data-trom reifablo public and/or.privato saurces,
<br /> and.(5)�report.his or her analysis:.opinions,and conclusions in this.appraisal repart,
<br /> INTENDED USE: Tho'intended use•of this appraisal report is for the lender/ciient to evaluate the propeiiy that is the.
<br />� suhject.ot:this'appraisaf for a moiigape tinance iransaction..
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<br /> 1HTENDED USER: The intended user of th3s appraisal�eport is the lendertclient.
<br /> DEFINITION OF MARKET'VALUE: rne most probable price:which a property shauld bdng In=a campetitive antl open
<br />�� rriaiket under all condiUons requisile.tq a falr.sale,•the buyer and seller, each acting,prudenUy;knowledgeably and assuming,
<br /> the pnce is nol affected by undu�stimulus.Implioit tn this.definfUon is ihe.Consummation oi'a sale as af'a specitied date and.
<br /> the.passing of Utle tram sellerto buyer under.conditions whereby::(1).buyer and seller are typically mativated;:(2) 6o(h
<br /> pariiss are welt idformed ot well advised, 2nd eabh aciing in wliat he or she aoosiders his or her own 6esf interest; (3j a
<br /> roasonabla tima is atlowed fo�oxposure in the open markei; (4) payment is matic in tarms.of cash in U. S.dollars Qr in terms
<br /> o(flnaacial:arrangements comparable thereto; and {5)ifie price represents.tha narmal.conside�atian for the property sald
<br /> unattected by.special or creaiive Tnancing nr sales cancessiqns" granted by anyone�assoclated.with ihe sale.
<br /> *Adjustments to the_comparables must be rr�ade:for special a�creative financing or sales concessions. No adjustmcnts aTe
<br />' necessary for=Uiose costs":wfiicli are normally pa(d.hy sellers as.a resuft oi•Uadiliun orlativ In a market area;.these cosi§a�e
<br />� �eadily idontiliatila sinco tha seller pays iheso costs fn virtually all s�es transaotions. Special or c�eative tinancing
<br /> adjuslments can be;matle to the camparable property by comparisons to tinancing tarms otfered by a third party.institutional- .
<br />' leader that is not alreatly in4olved'in the praperty or tr2nsaction, Any;adjustnient should not 6e calcutated an a mechanie3l
<br />, dolla�'tor doUar sosC of iho financing n�concessian but the.dotlar amount oY any•adjus.tment 'should approximate the matket's
<br /> reaction to the iinaricing b� concussions basvd on the'appratser's'judgmenL�
<br /> STATEMENT QF ASSUMPTIONS AND LIMITlN6 CONDITIONSr The appraiser's certiticafion in this.report is
<br /> sutiject to-the. toflowing assumptions and timitfng conditions: "
<br /> 1.,The apprdiser.wUl.not 6e respOnsib(e for matters o1 a legal nature{fiat aflect either.the property being,appraised.or the tllle
<br /> to it, except far infarination lhat he or she became•aware of during ihe research involved In pertorming°this appraisal: The
<br /> appraiser assumes that tbe tiUo ts,good,and�ma�ketab{e and wilf.not render any opinions about ihv 3iile.
<br /> 2: The appraiser has provided 'a.skatci� in tnis appraisal report to.show tlie approacimate dimenslons of the improvements.
<br /> The skotch is incloded only to.assist 1he �eader in visuatizing tha property and undarstanding the appraisar's detarminatioa
<br /> ot its sizQ:
<br /> 3. The appraiser.has ezam,ined=the,available flood maps_ihat are proJided by the Federal Emergency Management Agency
<br /> (or other data_sources) and has,notetl in this appraisal ceport wheiher any portlon oi the'subjeot.site is located-�in an
<br /> identifisd Special.Ftaotl Nazard Area, Because tho appraiser is not a surveyor, he ar she.makes no guarantees, express.pr
<br /> iinplietl, ragard(ng itiis determioation.
<br /> 4._Tha.appraiser wiU not.give iesUmony or appear.(n court because ha or she made ao appraisal ot Zhe.property in quesUan,
<br /> unless:'speeific..arrangements lo do so.have been made tietorehand; or as;othenvise required"tiy law.
<br /> 5. The appralser has noted in this appralsal report any adverse condfilons (such as needed repairs;de#erioration,�the
<br /> piesance.af hazardous wastes, toxic substances,.etc.)'observed duririg the inspeciion of the s�bject�property or that he or
<br /> sha became,aware ot dunng,ihe research Inyolvod in peAorm3ng:ihe appralsal. Uriless otherwise stated im_this appraisal
<br /> raporl, the appraisar has no,knowledge,of,any hiddert or unapparent ptiysical.�daficiencies or adverse conditions oi the
<br /> property�(such as; but not.Umited to, needed repairs, deterioratlon, the�presence of fiazardous'was(es;taxic substances,
<br /> advurso.onvironmental condiiton§, etcJ..that would make fhq;prope,rty.fess yaluablo, and has assumeil-that lFiero are,no.sucti
<br /> condttions and=makes no guara�tees or�wamanties,:express..or implied. The appraiser will'not be rasponsible for any such
<br /> coridiGons ifiat do eidsi or tor any enginaoring;or testing that.inight be required to discover whother suoh conditions axist
<br /> Becausa the app�a[se�fs �ot an..oxport in the 11e1d oi-envltoamental hazards,-this appreisal roport must not•be considered as
<br /> an environmental assessinent`.of the properry..
<br /> 6. The appralsar.has based:his or;her.appraisal rapart and valuaifon conclusion tor an appraisal that is subjec(to saUsfactory
<br /> completioq, repairs.-a�al4e�ations on the assumption thai the completion..repairs; o�alterations..of the subjecf properry wil)
<br /> be performed.in•a.protessional rrianner.
<br /> Fredd(e Maa Foan Z0 March 2005 UAD Verslon.9l2077 Page 4.016 Fannle Mae Farm 1004 Marcn 2005
<br /> Fwm 1LatUAO—�WurTOiAI'apyraisal srrftware by a la mod:.ine.—t•8Q0•AlAtl40E
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