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Home My WebLink About20112010.tiff (it0 CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4226 FAX: 0) 352-0242 1150150 O STREET P. O. BOX 758 IGREELEY, COLORADO 80632 C. COLORADO August 26, 2011 SAUER ABRAHAM 6715 COUNTY RD 50 JOHNSTOWN, CO 80534 RE: THE BOARD OF EQUALIZATION, 2011, WELD COUNTY, COLORADO - STIPULATE PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE DESCRIPTION OF PROPERTY:ACCOUNT#: R4702107 PARCEL#: 095731400005-PT E2 31- 5-67 LOT B REC EXEMPT RE-4476 Dear Petitioner: On July 26,2011,the Board of County Commissioners of Weld County, Colorado,convened, and acting as the Board of Equalization, pursuant to Section 39-8-101, C.R.S., et.seq., considered the Stipulation on your petition of appeal of the County Assessor's valuation of your property described above, for the year 2011. The Stipulation was entered into between the Assessor and said petitioner(s), and accepted by the Board of Equalization, agreeing that the assessment and valuation of the Weld County Assessor be Stipulated as follows: ACTUAL VALUE AS ACTUAL VALUE DETERMINED BY AS STIPULATED ASSESSOR $649,500 $600,000 Atrz/tr C /e//G� �`o��o 'a®�� AS0079 SAUER ABRAHAM - R4702107 Page 2 If you have questions or need additional information, please do not hesitate to contact me at (970) 336-7215, Extension 4226. Very truly yours, �P-ar�ccti -4/;" Esther E. Gesick Deputy Clerk to the Board cc: Christopher Woodruff, Assessor 2011-2010 AS0079 2011 COUNTY BOARD OF EQUALIZATION WELD COUNTY ASSESSOR'S ACCOUNT NUMBER R4702107 STIPULATION (As To Tax Year 2011 Actual Value) RE PETITION OF: NAME: SAUER ABRAHAM 6715 COUNTY RD 50 JOHNSTOWN CO 80534 Petitioner(s), SAUER ABRAHAM and the Weld County Assessor, hereby enter into this Stipulation regarding the tax year 2011 valuation of the subject property, and jointly move that the Board of Equalization to enter its order based on this Stipulation. Petitioner(s) and the Assessor agree and stipulate as follows: 1.The property subject to this Stipulation is described as: PT E2 31-5-67 LOT B REC EXEMPT RE-4476 2.The subject property is classified as Agricultural property 3.The County Assessor originally assigned the following actual value to the subject property for 2011. LAND: $448 IMPROVEMENTS: $649,052 TOTAL $649,500 4.After further review and negotiation, the petitioner(s) and Weld County Assessor agree to the following actual value for the subject property. LAND: $448 IMPROVEMENTS: $599,552 TOTAL $600,000 RO02107 PT E2 91-5-67 LOT B REC EXEMPT RE-4476 2011-2010 5.The valuations, as established above, shall be binding only with respect to tax year 2011. 6. Brief narrative as to why the reduction was made: Value was adjusted based upon the general market prices per sq. ft. that were in place in the base period. 7.A hearing has not yet been scheduled before the Board of Equalization. DATED this 18 day of July, 2011. ihkikilit/ J I 01.101) Petitioner(s) or Attorney Petitioner(s) or Attorney Address: Address: Telephone: Telephone: County Assessor: / ADDRESS: 1400 N.17th Avenue Greeley, CO 80631 (970) 353-3845 ext. 3656 80702107 PT E2 31.5-07 LOT B REC EXEMPT RE-LOB NOTICE OF DETERMINATION Christopher M. Woodruff Date of Notice: 6/22/2011 Weld County Assessor Telephone: (970) 353-3845 or (720) 652-4255 1400 N 17th Ave Fax: (970) 304-6433 Greeley, CO 80631 E-mail: appeals@co.weld.co.us www.co.weld.co.us Office Hours: 8:00 AM - 5:00 PM SCHEDULE/ACCOUNT NO. TAX YEAR TAX AREA LEGAL DESCRIPTION/ PHYSICAL LOCATION R4702107 2011 2371 PT E2 31-5-67 LOT B REC EXEMPT RE- 4476 6715 50 CR,WELD z SAUER ABRAHAM ` 33 6715 COUNTY RD 50 i` JOHNSTOWN,CO 80534 ' a ASSESSOR'S VALUATION I rn PROPERTY CLASSIFICATION ACTUAL REV EW PRIOR TO ACTUAL VE A ERc�n�' REVIEW ._ AG RESIDENTIAL 831,511 649,052 AG LAND 448 448 TOTAL $831,959 $649,500 The Assessor has carefully studied all available information, giving particular attention to the specifics included on your protest. The Assessor's determination of value after review is based on the following: AL02 - The actual valuation of your property has been adjusted based on new information. This may be information you have supplied, corrections of characteristics or additional sales which we have uncovered during the appeals process. If you disagree with the Assessor's decision, you have the right to appeal to the County Board of Equalization for further consideration, § 39-8-106(1)(a), C.R.S. The deadline for filing real property appeals is July 15. The deadline for filing personal property appeals is July 20. The Assessor establishes property values. The local taxing authorities (county, school district, city, fire protection, and other special districts) set mill levies. The mill levy requested by each taxing authority is based on a projected budget and the property tax revenue required to adequately fund the services it provides to its taxpayers. peat,°taxing, authorities hold budget hearings in the fall. If you are concerned about mill levies; We rebtmmend that you attend these budget hearings. Please refer to last year's tax bill or ask your Assessor for a listing of the local taxing authorities. :E d £ I inn )I 11 Please refer to the reverse side of this notice for pdditional information. t h ' 'li APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 1 through August 5 at 91510`h Street, Greeley, CO To appeal the Assessor's decision, complete the Petition to the County Board of Equalization shown below, and mail or deliver a copy of both sides of this form to: Weld County Board of Equalization 915 10`h Street, P.O. Box 758 Greeley, CO 80632 Telephone (970) 356-4000 Ext, 4225 To preserve your appeal rights, your Petition to the County Board of Equalization must be postmarked or delivered on or before July 15 for real property and on or before July 20 for personal property—after such date, your right to appeal is lost. You may be required to prove that you filed a timely appeal; therefore, we recommend that all correspondence be mailed with proof of mailing. You will be notified of the date and time scheduled for your hearing. The County Board of Equalization must mail a written decision to you within five business days following the date of the decision. The County Board of Equalization must conclude hearings and render decisions by August 5, § 39-8-107(2), C.R.S. If you do not receive a decision from the County Board of Equalization and you wish to continue your appeal, you must file an appeal with the Board of Assessment Appeals by September 12, § 39-2-125(1)(e), C.R.S. If you are dissatisfied with the County Board of Equalization's decision and you wish to continue your appeal, you must appeal within 30 days of the date of the County Board's written decision to ONE of the following: Board of Assessment Appeals District Court 1313 Sherman Street, Room 315 9th Avenue and 9th Street Denver, CO 80203 P.O. Box C (303) 866-5880 Greeley, Colorado 80632 www.dola.colorado.gov/baa (970) 356-4000 Ext. 4520 Binding Arbitration For a list of arbitrators, contact the County Commissioners at the address listed for the County Board of Equalization. If the date for filing any report, schedule, claim, tax return, statement, remittance, or other document falls upon a Saturday, Sunday, or legal holiday, it shall be deemed to have been timely filed if filed on the next business day, § 39-1-120(3), C.R.S. PETITION TO COUNTY BOARD OF EQUALIZATION What is your estimate of the property's value as of June 30, 2010? (Your opinion of value in terms of a specific dollar amount is required for real property, pursuant to § 39-8-106(1.5), C.R.S.) $ 57≤,S7`l What is the basis for your estimate of value or your reason for requesting a review? (Please attach additional sheets as necessary and any supporting dccumcntation, i.e., comparable sales, rent roll, originall/f'nstalled cost, appraisal, etc.) S d (/�y / L A I f si pp ,54( )mis- 7/L/Zto9 (W 110(1) 600 — /4 / / df �.CL yoo 144 u1 VV.' %y/L'q &i Z, A o,A cnLL p ufe.d-y -Fa,--- aAQJL' cpprr<.$1 e--r Lou..., l H )/hs�:c pnurelic el cI 3. t5Q Ex a5.o. 1 ail r�ovunwe 54.5LcS Sica 5�,4,.Rcs.,'1 0L det,,e66 -f"L4Tl J J Pet ATTESTATION I, the undersigned owner or agent' of the property identified above, affirm that the statements contained herei a d on ny attachm is hereto are true and complete. 9?0 3OZ-goo 77/3/Zoil Signature Telephone Number Date 15-DPT-AR PR 207-08/11 R4702107 12192 1 Attach letter of authorization signed by property owner. We are again contesting the assessed valuation of our property at 6715 county road 50,Johnstown,CO. While we appreciate that the assessor's office has came down to$649,500 from$831,959;we have not seen any evidence that supports this property being worth that much. While we do not deny that this is a nice properly,all of the information we have seen supports the conclusion that this property should be valued somewhere between$550,000 to$600,000. We have 3 points that support this position: 1: An appraisal done on July 2,2009(within current valuation dates)by Andrew Rendell of Front Line Real Estate Services which values the property at$600,000. There have been no improvements since then which would have increased value. 2: The property at 1610 Celeste Lane which was used as a comparable property to ours in an appraisal done by Paul Hams for New West Bank. This property sold for$870,000 on 12/12/2008(prior valuation period),then was for sale in April,2010 for $589,000(likely meaning it sold for less than that and either in the current valuation period or just days before it started). 3: All local and state governmental statistics on housing values in CO and Weld County show significant decreases in property values from 2008(the prior valuation period),to 2009-2010(the current valuation period). The property at 1610 Celeste Lane is very representative of what happened to high end house values during that period. Your assessors valued this property at$587,146 in the prior valuation period,and nearly all evidence supports the value of this property being lower than that number in the current valuation period We are happy to pay our property taxes,but would greatly appreciate not having to pay more than our fair share. We propose the valuation of this property to be between prior assessed value($587,148),and the appraisal done on 7/2/2009 for $600,000. This number ends up being$593,574. While there is little reason to believe our property could have increased in valueby$6,426(from prior assessed value of$587,148 to proposed$593,574)during a housing crash,we feel this is an accurate and fair valuation of our property as well a more than generous compromise on our part. We have been thorough is proving the value of this property to be under$600,000. If the powers that be insist in assessing our property at any value higher than$593,574,we would ask that the county provide us with any information supporting their position (much the same way the county has asked us for evidence supporting our position). Thank you or your time, chtt:tH...."„e Abe and Christine eSu Sauer - `1.1PAP.AE. L PRC ER'1•'P+CTOADDENDUM i Flaw-wet.Abe,Chn4llne Sasser --- File NO.: PFE80500? Plolle+tti Addtt:•:,�6:is w/CR 50 ___ Case No:. • City:Johnstown -- __.-._ State:CO - Zip.80534- lender New West Bank -- rt 1 _. 4�1 • as y 1 COMPARABLE SALE 11 f •� asrE 1510 Celeste Lane Loveland,CO 80537 . Sale Date:12r-12/2008 1 Sale Price:S 870,000 i r cr `zr1- _r_F- -Y1E • r( _^ f• t 11146.Ste I . 20—Homes&Land of Boulder County—Our 30Th Year-Issue 8 970-.132-3096 co/ice 1-877-838-8919 tai / l't• www.BerthoudRealEstate.com. 's. f V. St • mm— Tom. t, ..tai. .. WARM&INVITING ONE OF A KIND ON 4.42 ACRES! PLEN Cl O1 ROOM... CHARMING VICTORIAN Berthoud S_235.000 3BD.2BA.174091 Loveland S589,000 3S36sf.4BD.SBA a- Berthoud 5324.9041 4.h acres Old-Town Berthoud 8204.900 28104a1.-1B12.311A Original Hardwood Firs A11ey-load 2-ear gar Gourmet kitchen finest touches throughout 30309E 36D.2BA Horses allossed Main fir Master Ste. Alley load 2-car gar Huge yd&bonus room bath above gar! Walk-out bsmt.private guest suite&more! Loafing shed&well for irrigation: Wrap around front porch&lg.yd! Kathy.303-773.7&'9 ,-s Gary.970.692.200? Marian.9711-290.0904 Varian.970.290.1190k. 4 PR1 -,- ,, ,:,:i_ . .. if:, F -1. itI i 4t Y.t•a r i., , L . .- .- +. ,� &-SFr— — 1, ST'IlE.CLASS,VALUE.. QUIET NEIGHBORHOOD... BEALTI'.n.a12MTH&VALUE GREAT VALUE HISTORIC CHURCH Berthoud wt26.000 4601Isf.IBD.SBA SW Las-eland 5144.900 2272sf.tan.26A Berthoud 0390.700 3245-1:38D.SBA lohnsnosr s154atai 2469E 411!).MM Berthoud ,3?u.001t Built in 1914 Radiant floor heat Au paire suite Fresh paint throughout Main floor master Solid Oak Flooring Freshly painted La corner lot Onganal aso dssark Stained glass oindosn Custom built on 2-lacwcgsalit7 features! Finished bums Private backyard backs to a park: 13at.lot or RVboat parking! \icrls updated A full tlnished halm! Located ut33erthnud'a VIiito toxic District: Gan.970.692.2002 Gary.970.692.1002 Marian.970.3904900 Gars.,.l.4a2.2an: Kathleen.Stu-:9ai-539} F -ate ,-,4 -� --. - -- .._ Today @ Colorado State-Print Story-Northern Colorado housing markets experiencing declines in values, new real estate study reveals 7/13/11 10.05) r' Today Colorado State Northern Colorado housing markets experiencing declines in values, new real estate study reveals September 24, 2009 All 11 major housing markets in Northern Colorado have experienced declines in home values - as much as 13 percent in the tri-cities market area of Frederick, Firestone and Dacono, according to a semi-annual in-depth study on home prices released by the Colorado State University Everitt Real Estate Center on Thursday. John Gerhard, director of research at the Everitt Real Estate Center, talked about the state of Northern Colorado's housing market at the center's fall real f . .; estate conference at the Embassy Suites in Loveland. a 4 YfV Support from local realtors Also Thursday, the Fort Collins Board of Realtors alea announced a corporate membership in the Everitt FOR Center, committing to $5,000 a year for five years for C a total $25,000 investment. , A ' L rk4s/ "Our board of directors understands the importance of . having good data for our members to use on a day-to- day basis. Additionally, it's important to them to support the future of the industry," Clint Skutchan, executive vice president, Fort Collins Board of Realtors, which has about 1,000 members. Highlights of the Everitt Center housing study • Total closings in northern Colorado (Boulder, Larimer and Weld counties) have steadily declined since 2004, down 13 percent in 2008 and 20 percent in the first half of 2009. Closings fell 21 percent in the first quarter of 2009 and 19 percent in the second quarter. • The number of single-family attached home closings such as townhomes, duplexes and condominiums fell 21 percent, as compared with the first half of 2008. Detached homes fell 19 percent. • Surprisingly, the supply of attached and detached inventory homes remained relatively unchanged in price ranges below $300,000, but increased dramatically in move_up and luxury price ranges. http://www.today.colostate.edu/printstory.aspx?I0-2267 Page 1 c i Today @ Colorado State-Print Story-Northern Colorado housing markets experiencing declines in values,new real estate study reveals 7/13/11 10:05/ • The supply of attached homes increased from 13.2 months supply at the end of second quarter 2008 to more than a three-year supply in the $450,000 to $500,000 price range. The supply of detached homes increased from 18.4-month supply to a 27-month supply at the end of second quarter 2009. The indices rely on data from IRES LLC, the area's Multiple Listing Service, and roughly 200,000 closings from 1997 through the first half of 2009 in Boulder, Larimer and Weld counties. The study is more detailed than other indices that report home prices for broader metropolitan areas and uses geographic information systems to select data by Census Tract in order to evaluate smaller boundaries - almost on a neighborhood-by-neighborhood basis. Two researchers for the Everitt Real Estate Center, Gerhard and Sriram Villupuram, conducted the study, which is released twice a year - in April and September. It's not all doom and gloom "In spite of the declines in values, home values can vary widely by neighborhood and even block by block," Gerhard said. "There are still neighborhoods that are doing reasonably well and appreciating despite national trends. It's not all doom and gloom. It's important to look at market trends at a granular level rather than for a large market area." Boulder County outperformed Weld and Larimer counties in overall appreciation although all counties were down compared with the end of 2008 report issued by the Everitt Center. Home values declined 3.2 percent in Boulder County, 4.3 percent in Larimer County and nearly 10 percent in Weld County. More study highlights • At the end of the first half of 2009, the Boulder-Gunbarrel market area still had the greatest overall appreciation since the base year of 1997, up 83.4 percent. • Lafayette-Louisville-Superior registered the second highest overall appreciation followed by Estes Park, Erie and Fort Collins. The Greeley-Evans market areas home values depreciated 4.3 percent as compared to the base year of 1997. • In first half 2009, home prices declined all 11 major market areas in Northern Colorado. The greatest percentage drop occurred in the tri-cities market area (Dacono, Firestone and Frederick), down more than 13 percent, followed by a 12 percent decline in Greeley-Evans. • Louisville-Lafayette-Superior experienced the least amount of change in home values — down less than 1 percent — as compared with year-end 2008. Weighted repeat sales methodology The study uses a weighted repeat sales methodology similar to the Case-Shiller Index, which measures price change for the same home over time, rather than the conventional median sales price methodology which may be impacted by the type of homes selling in a given period. The EREC Indices differ significantly from other repeat sales indices, and include all transactions as well as attached housing. In addition, the Everitt center's house price indices illustrate the performance of different price ranges of homes within each of the major market areas. http://www.today.colostate.edu/printstory.aspx?ID=2267 Page 2 of I am writing to protest the most recent Valuation of our house located at 6715 county road 50 Johnstown,CO 80534. The county has increased their valuation of this property by over 40%during one of the most serious economicmousing recessions in over a half century. This is simply an absurd valuation for this property during the time frame of January 1, 2009 to June 30,2010. There is no evidence of any increase in property value of this type of property in Weld County during this time frame,let alone an over 40%increase in value. Enclosed you will find an appraisal of our house that was done by Andrew Rendell for our lender July,2 2009 which values this property at$600,000. There have been no landscaping improvements,additions,or out buildings constructed since that time which would increase the value of the property. Paul Harris did an appraisal of this property for New West Bank on February 3rd,2009 which includes a house at 1610 Celeste Lane as a comparable that sold for$870,000 on 12/12/2008,and was for sale for$589,000 in April of 2010. This is a 20% decrease in value,which is much more representative of what the market conditions were during this current value period. I am very curious how the Weld County came up with their valuation and would be very interested in seeing the evidence that supports their 41.7%increase in value of this property during that 18 month period. Nearly every property in Weld County decreased in value during that time-including this one. We own a nice, well maintained duplex in Greeley at 1605 12th street that Weld County/City of Greeley appraisers deemed declined in value 9.5%during this period. I would have a hard time accepting any increase in value of this property,as I believe there is little or no evidence supporting that possibility. If this property decreased in value only 5%during this time frame($557,790.6),we would have weathered this recession better than most homeowners. I believe this is a much more accurate value of this property from 1/1/09-6/30/2010,but am more than happy to look at anything that supports a 41.7%increase. /' Thank you for your time, 5 :1\-4/•- y �4\ 1 l0' Abe Sauer a r 6715 county road 50 Johnstown,CO 80534 970-302-8600 BROAD STREET Broad Street Valuations, Inc Invoice ".00, 304 S. Broad Street, Suite C Holly, MI 48442 Date Invoice#. 7/2/2009 R-13306 Lender/Client Pinnacle Mortgage Group 3605 South Teller Street Lakewood,CO 80235 This appraisal report was completed in an HVCC compliant manner. The appraisal order was placed by the above named Lender/Client through Broad Street Valuations with no communication between the appraiser and the Lender/Client. Broad Street Valuations does not provide estimated values, loan amounts, or loan-to-value ratios to the appraiser. Terms Due on receipt Borrower Address Product Fee Sauer 6715 Weld Cty Rd#50 1004 Uniform Residential Apprai 350.00 Total 6350.00 Payments $0.00 Balance Due S350.00 Phone# Fax# E-mail Web Site (888)885-7770 (866)885-8771 tom@broadstreetvaluations.com www.broadstreetvaluations.com WELD Flle No. 096715WE a C011PARABLES Dana SANER Abraham&Christine PRP00t 6715 Weld County Road#50 as Johnstown Comb Weld ar CO steam 805349501 Lender/amt rirmacle Mottzage Groun✓Broadsacet FEATURE I &ELECT mavaaaE SALE rD 4 IXIPOPsaE SHE Na 5 maPNYHE SOLE rD B 6715 Weld County Road#50 3225 Snowbeny 20857 Northmoor 16497 Ledyard Atkins Court Drive Road South mannsaid 4 miles southwest 2 miles south 5.50 miles southeast s.erw. s Refinance s 598,000 Is 624,900 s 602,874 Sib Pdce iatoUv d e $ 128.31 sq./. s 159.89 an $ 229.83 an I s 226.64 at orsbaat$ MLS/Agent/County Records MLS/Agent/County Records MLS/Agent/County Records vaitainstinna MIS#578758 142 DOM MLS#599962 active listing MLS#602874 active listing V1L EMaZTIENTS rEsSRFrCN tIESORPTON N-l$tee n OESCRI.roN +H5 Alined 01 ION '1-%A4J I Smaraiaaig Conventional 1BD 1BD Omissions none sow ud -0- 1BD 1BD o+aasrnna 03-23-2009 1BD 1BD Laren SW Weld Ctv. SW Weld Chi. SW Weld Ctv. SW Weld Ctv. Laaaareasrye Fee Simple fee simple fee simple fee simple SS 3.24 acres 1.10 acres 1.14 acres 3.05 acres � farm/nuns/Rd farm/mnts/ad Vann/rants/2d farm/mnts/gd alliEPAS ranch/good 2 story/avg. +29,900 ranch/good -0- ranch/Rood -0- orgamrlms very good very good very good very good r4rq 2009 2007/new -0- 1999 +18,740 2006 +18,086 caum new new good good /Loa(im Taal Naas Bab Told Bons. Bab Total Nana BAN TAW Baas Bab aaMbar 10 5 3.50 10 4 4.5 -10,000 II 5 3.5 -0-, 11 5 3.0 +5,000 Gusting Nee 2,636 aqt 3,740 ast -55,200 2,719 on -0- 2,660 RA -0- aeanvaaFitted 2504sq'walkout 2170sq'bsmt +13,340 2703sq'walkout -0- 2660sq'walkout -0- RoornsEbtor alas 2379so'finish no finish +28,500 2432so'finish -0- 1995so'finish -0- n.m.allay I up/4 down/gd.3 up/1 down 3 up/2 down 2 up/3 down odl.oraaao GFA/central GFA/central GFA/central GFA/central silwastratit doubles/good doubles/good doubles/good doubles/good GiragelCapal 3 car garage 4 car garage . -3,500 5 car garage -7,000 5 car garage -7,000 wasnaopn4 porch/natio porch/patio porch/patio pomh/patio Outbuildings none none -0- none -0- none -0- N+,aa••crw [X1+1 J- s 3,040 JXI,I I- a 11,740 JXI+I J- s 16,086 A4imISalsPam Nast 0.51 is, Net/V4 1.88 % tang 2.67 % aonoa.ua Gnus Ott 23.48 x $ 601,040 easaM 4.12 v,s 636,640 Gems/4 4.99 t s 618,960 rim SMELT aw'l$OE SNE M COPPRISE SOLE E mrWNac SALE as omaFlvsrrr.r Land Sale/5-18-07 none in the none in the none in the artosarmswnar 195,000 past 12 months past 12 months past 12 months Nissen(*) County Records County Records County Records County Records asmaeraomsann$ 07-02-2009 07-02-2009 07-02-2009 07-02-2009 camaam Um cowaNm Front Line Real Estate Services Summary Appraisal Report WELD Uniform Residential Appraisal Report Fees 096715WE Otte 8 carp..tetra awry tea 1r r h t tea inflation at e b pb teas 535,000 to s 645,000 Otte 13 comet ter b se a d reptmma.in it pet Etta mats rape In r pt ham$ 400.000 b s 625,000 . FEATURE I &SECT tet tARE SOLE t 1 OSIWWW6LE SAE a 2 C0Isw1'8E Sa1E a 3 6715 Weld County Road#50 230 Mulligan Lake 105 Mallard 18309 Weld County Road Alta Drive Court #44 p erahlo ter 5 miles southwest 5.25 miles southwest 5 miles southeast &SRNs s Refinance s 575,000 s 540,000 s 569,500 &S Retesallthae s 128.31 .es. s 224.96 .yt s 216.35 qt s 269.27 set Datee t MLS/Agent/Cormty Records MLS/Agent/Coimty Records MLS/Astent/Coimtv Records vwlrmaamly MLS#579717 50 DOM MLS#573686 53 DOM MLS#571470 78 DOM VM EA0M61t@ITS OESCREION 0at2e IUd 'E$Wave nt'WPIX1 Nit Wet.. CESCRPTION N-P Memwent Stag Conventional Cash Cash Cott. none reported , -0- seller concess. -700 none reported -0- 10-21-2008 08-18-2008 08-21-2008 Leto SW Weld Ctv. SW Weld Cty. SW Weld Ctv. SW Weld Cty. ...avestooe Fee Simple fee simple fee simple fee simple Ina 3.24 aaes 1.87 acres 1.29 aces 5.2 saes v. farm/mnWRd farm/mnts/gd farm/mnts/gd farm/nuns/Rd pals ranch/good ranch/good rench/good ranch/good aawocoso 4 i very good very good very Rood very good A4epe 2009 2001 +17,2502000 +16,200 1997 +17,085 Omit new good good good Maeoab Teal .Sea et Total Bbl Batha JaS Bias Its Total Mt Bata $ Remain 10 5 3.50 10 4 3.5 -0- 10 4 3.5 -0- 10 4 3.5 -0- A oa.uayame 2,636 s.t 2,556 scot -0- 2,4% qt +7,000 2,115 set +26,050 E at tenet 2504sq'walkout 2556sq'walkout -0- 24965q'walkout -0- 2115sq'walkout +3,900 s Ranmcet 237950'finish 2300sa'finish -0- 2246sa'finish -0- 1903rd finish +5,700 An S1ty 1 un/4 down/gd.3 up/1 down 2 up/2 down 2 un/2 down u g GFA/central GFA/central GFA/central GFA/central a natmuaa doubles/good doubles/good doubles/good doubles/good P oagaaapm 3 car garage 3 car garage -0- 3 car garage -0- 2 car garage +5,000 A Ratroioeek porch/patio north/patio Porch/patio ,porch/patio R Outbuildings none none -0- none -0- 1.800s0'shop -25,000 s 0 N NTMyaeafa4 [XI•I I- s 17,250 [X]•I I. s 22,500 71+) I. s 32,735 A A4ttsbRt NTA4 3.00 % NAA4 4.17 % NdA4 5.75 % P a e.vre4 3.00 a s 592,250 oaos4 4.43 960 562,500 Gam 14.53 Fes 602,235 P I I X de I I de not rat Bar a tett let a t.s a,nary as mlpsue at r.apt ft A C Y/vearh [ Ls IXI ad twee ay Ptr m ataa a to ant plgey tr Is see was per to to elan cob a It mea H N$0000) County records Mytech [ 1 d jr deal et ay pates attics at awa+be its tr to Ws as seeded Wed Is carpet— raes..utg County records Rope Is met et is math r meat a be W t a tier Net a it sly] Papatad ante ate sat aabe pa sots on Pee 3} ITEM BISECT CCtPARAaE SOLES 1 Covw»aE SNE T 2 Cant VIE ME It 3 m.art&Tvraer Land Sale/5-18-07 none in the none in the none in the Reama&TTrer 195,000 past 12 months oast 12 months past 12 months oesast County Records County Records County Records County Records 0etaoSdoemsa.al5 07-02-2009 07-02-2009 07-02-2009 07-02-2009 Pent a$x r a te& Nay a t sow p epsy die =Waft ale Other than noted,the subject property has not transfered in the past 36 months or been listed for sale in the past year. aenaya&eeCantentaa' See Additional Comments tart cove by fist cmaden Appall 600,000 R PAWS — By as aarebm Agar$600,000 cor Arpr.ee R deaabpr4 b 618,100 tent Approach p t a+ps) b n/a eThe direct sales comparison approach is considered to be the most reliable indicator of value as it reflects market 0 activity. The cost approach is subject to obsolescence and is used only as a check. The income approach was not N considered as the subject prop ert(yprls not income producing. wet is U C ire w d lam Al anal b mat pa its we yonlvt a to lot a a 'Mate coon eN to tweet it. ten t eatenate b me Mote apes a Sews m is bet a a coital ts t ❑stab L 0hpaat aaa a ielrb Na been carat a b t I Hap emptied iynbb teem is etteity ant, >d re craft a debt/ WM a lent tar a VOW There are no conditions A HI OHS$11:98itAL Brat mm as atte to tapaht or is item it t e tt Sae a te ate Wept, *OS twee a oak SITS. at vaplba r rata O aeeYa as yP.Vs tett, my tat erne a Y mate s at delta ate Mil "weft us sae tead of r tot s N $600,000 ,_ea _06-Rum , wow is ire die a Watt en the tat at re it waist Freddie Mac Fermin Math 2005 Page 2 of 6 Farce Mae Fpm 1104 March 2005 Front Line Real Estate Services DCW Hera 096715WE PHOTOGRAPH ADDENDUM AG-Ag`P Borrower or owner SAUER, Abraham & Christine aropertyAmass 6715 Weld County Road #50 City Johnstown catty Weld State CO knits 80534-9501 cxeri Pinnacle Mortgage Group/Broadstreet LT' - f l `� )e) COMPARABLE #1 Or. LP O • 230 Mulligan Lake . Drive • • J 1 \ \/ r` tf1 t. rel4W -Allikbl • ``J _a _ f . i `-�t ' '` i «� COMPARABLE #2 ., . 105 Mallard \ -. -.‘ ---• • ..4, ,. J ._') Court . , *R 1 jetIL COMPARABLE #3 18309 Weld County Road #44 - - --- I- -- L--- - •ilh Front Line Real Estate Services Summary Appraisal Report WELL) Uniform Residential Appraisal Report reed 096715WE This apart form a designed to report an appraisal a a cneutt properly a a wa-att papery with at any Lilt Inducing a Lilt In a planned wit development (Pia. This report toms is not designed to report at sppmbet a a msMadeed name or a unit in a memiraan a coopaatte project. The appraisal report Is subject to the iabelng score of work. intended use. intended .aa. detention a market value, abatement a assumptions aid Orating conditions, aid mss. Molt ohs, adatiae, or deletions to the Intended use, Intended user. definition a main value, a assumptions and luting conditions se not permitted The appraiser may expand the scope a wok to include sty additional ,eaearn a analysis necessary based on the complexity a tnb appraisal assignment. Moral ,s a deletions to the certifications an also not penned. However, additional aetlaatlau that do not constitute material akeralarta to tilt appraisal report, an' as those Required by lea or those rammed to the appraiser's residing education a membership in as appraisal organization, at )lamest. SCOPE OF WORK The scope a work for this appraisal is deigned by the comp dty of that apt:nasal assignment and the reporting requirements a Pn appraisal report fa* including the fclovang definition a motet ague. abtnne4 a animations an Ming cattails*, an certifications- The appalsr mast a a nirdm it (1) perform a compete visual inapedlon a the Interior an exterior areas eta abject property. (2) inspect the neighborhood, (3) inspect each a the comparable sales tom at least the Week (4) research, verily, an analyze data from reliable pt& and/a stele sources, and (5) report his a her aalysa, optima, and conclusions in Vie appraisal report. MENDED USE: The Intended use a to appraisal report Is for the lender/die& to evaluate the properly that Is the sullied a to appraisal for a mortgage Brace transaction. INTENDED USER: The intoned user antis appraisal report Is the lender/client. DEFINITION OF MARKET VALUE: The most probable price which a pepaty should darn In a oatpetniw an aPm narks under as conditions realer* b a har agile, the buys an sdaf. each aaing prudently, Imoafadgealiy and assuming the price is in affected by Lime stimulus. In}idt In to definition Is the mrsuaudm of a sale as a a specified date an the pasting a tie Iron at to buyer haver conditions whereby (1) buys an seer are typtoay marveled (2) ban pals are `Ml informed or we Aldan, aid end; sting in what he a the considers his a her can best Interest (3) a reasonable time Is Moved for e*p®te is the open market (4) ealnnet b node In tens a min ii la a ddaa a In Mrs a *sandal arrangements comparable that.: an (5) the price represents the normal muldcawn for the popery/ sold unaffected by special or weals financing a sales eneaswhs' gaud by anyone aasodaed with the tale. *Adjustments to the NaBatlas must be made for special or creative financing armies fiats No aaustments are necessary for ties pis which we normally pad by sellers as a real of tradition orate In e meta aaa that colds at retly Ideraillatie Srce the aide pays these costs In Shah M sales transactions. Seeder a creative anaflg adjustments can be made to the comparable properly by conpanems to financing terms offered by a Wien perry institutional lender that is not already rooked bi the property or tasaem. Any adjustment should not be calculated on a Mechanical dollar for dollar cost a the Bravng a concession but the dollar anoint army adjustment t should approximate the marker's reaction to the tnanrg or aneseras based an the appraisers lodgment- STATEMENT OF ASSUMPTIONS AND UNITING CONDITIONS: The appraisers cadaatan in tin report is oared to the racMng assumptions and limiting conditions: 1. The appraiser via not be rmporide fa matters a a lege nature that affect either the properly bang appraised or the title to It except fa btmnMm that he a she became aware a during the reread, involved In pertaining this appaLsaL The appraiser assumes to the tab Is good and marketable aid all net render any clarions riot the rte. 2. The appraise has provided a dutch In this appraiser rant to shoe the approximate dimensions a the Fpavaneta The sketch is included arty to midst the reader in vleieang the property ad uetles*mdng the appraiser* determination or its size a The s waster has examined the available flood rape that are pahided by the Federal Emergency Management Agency (or other data soothes) aid has noted in this appraiser report whether any portion a the subject site ts tangled in an dented Special Flood Naad Area Berne the appraiser Is not a aaveyor, he or she mans no guarantees, express or implied, regarti g to determination. 4. The appraiser vi not gee testimony a apex in mat because he or she made an appraisal a the property in queMon, unless swabs arrangements to do as have been nacre baatlad or as otherwise required by tan. 5. The appraiser has noted in iris appraisal report any adverse mNdon (such as needed repairs, deterioration, the presence a hazardous wens, talc substances, etc) observed dreg the kapedion a the abject smeary a that he a are *entree aware of during the research craved In performing to apaisel. Unless otherwise aced In this appraisal port, the app iser has no asnledge a any hidden a ucapami physical ddtlendes a adverse conidlota a the properly (such as, but not laded to, needed pars deterioration, the presence a hazardous wars. talc abaaces, adverse enviroMada conditions, Sc) that world make the property *Y valuable, an has assumed ed that that are no arch conditions an males no guarantees a waaais, spas or Implied The appraise wi not be reap rdde for any Stich conditions that do eJar a to any engineering a testing that might be required to dawn whether such a dic s ads, Because the appraiser is not an apart In the arse a e anon rent ha®da. this appraisal report rear not be considered as an environmental assessment t a to property. 6. The appraiser has based his a he appraisal report and vduttiun conclusion for en apaisal that is subject to satisfactory completion, pars a Meabas on the assumption that the commslaben, pars, a alterations a the ahbjed properly vlla be l ertotnad in a profe%tond manner. Freddie Mac Form 70 Mach 2005 Page 4 of 6 Fate Mae Form 1004 March 2006 Front Line Real Estate Services Summary Appraisal Report WELD Uniform Residential Appraisal Report Files 096715WE APPRAISERS CERTIFICATION: me Appraiser seat= and agrees that. 1. I have, eta Ahriman, developed and reported this appraisal in scot with the scope of ark regEmsan stand In tai appraisal report. 2. I performed a complete visual 'rasa** of the intern' an exterior sea of the sbjen aapaty. I imported to condition of the improvements in factual, spedllc terns. I identified as reported the physical deficiencies that maid alert the foray, soundness. or snags in egtlly of the property. 3. I performed this appease' in a®race with the requirements of the Uniform &a S of Professional Appease Practice to were adopted and promulgated by the Appraise' Standards Bad of The Appraise' Foundation and that were in place at the are die appraisal report was prepamee 4. I developed my opinion of the medial van a the real property the Is the ambled of this report basil on the se's comparison approach to value. I have adequate comparable market data lo dewlap a =ale sass comparison appeal, for this appraisal asigirnert. I further may that I considered the cost and Mime approaches to vale but ad not develop than, unless otherwise indicated in this report. 5. I Ass anthed, 'emMed, analyzed, and reported on ay current apreerrv& for sale for the subject prapaly, any offering for sae a the subject property In the twalve months prig to the elective date of his appraisal, aid the prior saes a the ambled properly for a manor, of nee yeas pda to the effective dale et Iris appraisal, mesa otherwise indicated in ants report 6. I researched, verified, analyzed, and reported on the prior sales of the mmpaable saes for a rraimpn of one year prior to the dale of sale a the comparable sale, ales alherwise indk9ed in this report. 7. I selected and teed comparable sales that we Iocaoraly, physically. aid runaway the most sear to the abject property. 8. I have net used comparable sales tha were the repast of Ga bivg a land sale with the contract purchase price of a home that has been bet or wi be but an the laid. 0. thaw reported adjustments to the comparable se's that riled the ,markers macaw to the 6Retaices between the subject properly and the comparable sells 10. twilled, from a ddraansted seam, all lawman In tits report that was prods by pans who have a ironclad interest in the sale or financing of the sera properly. 11. I have Wowiedge and experience In appraising this type of property in this market am 12. I an aware of, and have access to. the nePs*ay and appropime pubs:and private data sources, sadt as merle(Wing swam tar assessment remote pubic bed rsmds all otter such data soirees tor the area in which the property a located. 13. I obtained the information, mamas, all opinions furnished by other pans aid expressed in this appraisal report Porn reliable sore® that beams to be true at coned. M. I have taken into consideration the fodors that have an Impact an vane with reaped to the soled neighborhood. suet= property. aid the prudttity of the subject property to adverse Indoor in the development of my opinion of market value. I have noted In this appraise' report any adverse conditions (such as, but not limited to, needed repairs, deterioration. the presence of hazardous as, toxic substances. adverse emimmeaal ceriaoi etc.) absaved Ming the inspection of the soled property a that h became stare of doing the reseadi involved in perMmrg Ws appraise'. I have easdeeed these adverse crdlms In my analysis of the property vale, and have reported on the effect of the mMtlo s an the value and mrarkaEMy of the subject property. 15. I have not knowingly withheld any Significant kamaon from this upraise' report and, to the best or my knowledge, a statements at unison in an appraisal report t are sue all mired. 16. I sled in this appraise' report my own persona unbiased. at professional analysts, ©Orhaa, and conclusions. wall, are stated oriy to the asswnplora and aritng andtcos in this appraise' report. 17. leave no Present or prspeeiv a interest in the property lath is the subject of ms report. and I have no present or prospective persona interest or bias with rented to the participants in the baneepaa. I dot not base. suer patsy or completely, my analysis anmar opinion of market value in via apprise report an the race tea, region sec age. mates stem hand. =real sera, or =banal origin or either the prospective owners or occupants of the abject property or a the pima memos or occupants of to peewees in the early or the stied property or an any other basis policed by W. 18. My employment and= compensation for performing ilia appraisal or any here a anticipate weasels wad nit cendtoraa an ay agreement a unaatsg, lateen a dhawi that "said repast (a Potent sneers sppvag) a predetermined speak venue, a fredetermined minimum value, a range or direction in value, a vas that favors the cage of any perry. a to attainment a a specific repast or occurrence of a spedfic subsequent t event Midi as approval a a panting mortgage ban anialiceP 19. I personally prepared s conclusions and opinions abet the ran estate that were set forth in ma appraise' report. If I it on significant its property anemia asantace from any individual or Inivduea In the perfarnawe a the appraise' or the prepamaan a to appraisal report, I lave named arfh Individuals) and pawed the specific tasks performed in gal apprise' repot I any thm any idvidaa so named is qualified to palms the tasks. I have not authorized anyone to make a charge to any ram in SS apprmr report therefore, any Suave made to this appraisal S unauthorized and t at take no reaporsbity fa it 20. I Identified the lender/client in this appraisal report who is the i dvdW, organization. a agent for the organization that ordered aid wil receive this appease, report Meddle Mac Faro 70 Madl 2006 Page 5 of 6 Facie Mae Form 1004 Made 2005 Front Line Real Estate Services Summary Appraisal Report WELD Uniform Residential Appraisal Report sues 096715WE 21. The lancer/died nay disclose or distribute this pppressl report to: the borrower: another leader at the newest a the borrower the mortgagee w its successors ad assign: mortgage insurers; government sponsored enterprises; other secondary m eltet pararipante data collection or reporting services: prafeewmel apaiea orgahisatlaa try depatnei. agents', or instrumentally a the United Staley and any Mate. the District a Getable or other Jurisdictions; without latg to obtain the appraisers or supervisory appreiefs (t applicable) camera. Such mast must be obtained before tee aqi®ad report may be Kahaed o oftb tad to an arts paty (inducing. but not Sneed b. the pubic through advertising, pubic relations. newt ealen a taw media). 22. tern awe net sty disclosure or dMdtlon a this appraisal report by rte or to lender/time may be that to certain. laws and regulations. Further, lain also subject to the potions a the Uniform stands a Pro emana Appraisal Radice that paean to rlaJosre or distribution by me. 23. The borrows, aicow lads a the testiest a the boomer, the rmagagee or its successors and assigns. mortgage arenas. government sponsored atapses. aid mw secondary market participants nay sly on tilt appraisal 'sport as pat a any mortgage mace transaction that involves any one or rave a them parties. 24. If this somata repot ores frraated sat 'dedm.lc reose containing my 'electronic egnetwe.' as those tetra we defined in applicable federal and/or sale laws (ecluNg audio and video reconfings), or a femmes nar®aron a this apaaa nom ossinng a spry a representation a my signature, the appraisal report Sia be as elealwa enforceable aid v25,111511 a papa vealon Or don apprasa leport were delivered containing my wine hand written signalise 25. Any iaalaa or negligent marepr tsam(s) contained in this appraisal report may result in ad/ bbiy adbr rental penalise including, but not IMMO to. ma or imprisonment Or both wider the provision a Tide 18. United Slane Coda Section 1001, et seq.. or sear ran laws SUPERVISORY APPRAISER'S CERWICA11ON: The &lamasery Appraiser stns and agrees that 1. I Camay sapaelawl the appraiser fir this appraisal assignment, have red the appraisal report, aid agree with the appraisers analysis. widens, statements, concuMpns. and the appraisers cerillaaon. 2. I a cept N rspaabiy for the =stern a this appraisal report inducing, but net sited to. the appraisals aayda. °a ions. statements. conclusions, and the appraisers maimed,. 3. The appraiser Matlaed in this appease report is either a sub-asaaw or an employee a the supervisory apaser (or the appraisal Mm), Is Passed to perform this appraise aid is acceptable to perform this appraisal wider the applicable Mae law. 4. This appraisal report capes with the Uircan Standards a Professional Appraisal Practice that were adopted an promulgated by the Appraisal Standards Bard a The Apaaad Foundation and that was In plea at the time this appraisal report was prepared 5. Weis appraisal report was transmitted as an -eiscsnanic noose cantering my -eleawic signature," as toe teas are donned in amiable federal and/or state laws (adducing audio aid video recordings), or a !Mend/ bra ..u a this appraisal report containing a copy or rtpsmtaiwn a try signal:UM the appraise Mpvt eel bet all endive, atw®lle and valid as If a inner wanton a this appraisal report were delivered catering my ofgnS teats written fgrsae. APPRAISER SUPERVISORY APPRAISER(ONLY F REQUIRED) aisle law Andrew RleQellTNam mnanit m Front Line Real Estate Services I trawl to QipsvPea 6583 South Kearney Circle mTWVAelas CenteoniaL CO 80111 retpuninba 303-400-4505 TT9lueNltter BrSParia BraPdfa rffiasyasadlipgl July 2,2009 CaeaStplue Badre( delis! 06-30-2009 bunmfrelena 9slemaaamf CR40023672 a9mllasf aeaimtaf Sts taw Catrfied Residential Appraiser suaionotradearicatocruzense sue CO Beiaioandamcmcnalyas 12-31-10 StBECTFR3$ily ACCFESSCFCFCRIRTIFFFRICED odrrnaedalidppay 6715 Weld County Road#50 mispdefbaabjelp¢eylgnYaa Johnstown.CO 80534-9501 Clacikescim Pillory VILE CF stun stormy s 600000 ❑alfaaailaQadeeatraalp 1ptpay LaIHdaEif DhbaNfadm rare 0:1441 IHESMSS Imwyrale Pinnacle Mortgage CaouaBmadst set Canny/Mien 3605 South Teller Street _ mrdyepalelaamrinanstr a stra Lakewood CO 80235 0llipnaddiadmipa8nsllaltandea r]iaomi geBayanzim Freckle Ma:Form TO March 2005 Page 6 of 6 Fannie Mae Farm 1004 Mach 2005 Front Line Real Estate Services Summary Appraisal Report WELD Uniforrn Residential Appraisal Report w.s 096715WE lye weectris annoy awed repa4 le b bide h rean.1 .n in accuab, ad awe* aw S tpim el h it bibs of he salad arwb Pq*'AaaOn 6715 Weld County Road#50 jay Johnstown Slab CO mC as 80534-9501 area.. SAUER,Abraham&Christine CaraFbbIMO SAUER,Abraham&Christine cam Weld gay6orpm see addendum 5 Aannwmis 095731400005 Tartar 2009 Hero! 346 0 iwmowar+m Johnstown/Weld County Ngrladwo Pierson 252 oaaarad 21 aj Coca! I loved runt Meat SpalOvreb1 -0- FKI'co m ei I JPna FIPnonn E wwri HPnind ,C1Rnsuns I )tr.nm I latrnate) C Aapnatrlpe n .d� o wraan frI nagnmeTaaan flaMpmb) T Pinnacle Mortgage Group/Broadstreet AMMO 3605 South Teller Street Lakewood CO 80235 h tie steid pep*amity OW tr Me of titan area tr r In M We nags Ma b he.Mare die a to epolari MO I XIM Morn I m Limr 1somata Mad WO ptt% as drpl County Records,MLS,See Attached Listing Addendum Li I m rot uSe to Wed b m tr Is Ord Pad e WW1 EOM to rem of re aa5SR a re Wad tr m a rev to as MM ea it O Paned Refinance,no sales contract N T ra+adlm s N/A oaacam N/A h to pommy as re onr a pat ream I Ina I lib Iernsin* County Records N knee ay tent ®Yo !a as bib comb% ? a doomed Sat) b a pr be ay pay on Eder d M Was? Qre UM GIf Yee, oat to bid Or smart ad a tar re s b a pa N/A 1 Nola Mace and the raidan4aYlae Mahe neighborhood era net.,le+ad aria _ Neighborhood ChaaeraLtica ene4adt Hoeing g rands O ennit Horsing Perrot Laid Use% N Lamar IXI� GMr ware I I IX sdb 0vs'g PRIZE PEE a of 95 % i sa4ro Oal% a GM% ibis S%naa�4Tp InI Salop 7 X' S oar&c !1A 6rp 1L 24i % G clam cope .S m s. Mehayrb. I 11.rtate Mints Oa brass 100 Los new MunFadi % H WOW IOW The subject is west pd 1-25,east of Hyw 85,North of County ,1,200 NM 50 clammy 5 it o Road 34,and south of County Road 54. 500-650rei mixed alt re a Naltala JOSH The subject property is located in Weld County near the towns of Johnsmwn/Milliken/Mead The H subject market area is typified by ranch and multi-level style homes of varying age,size,and quality.Proximity to area aschools,shopping swoon facilities.and employment centers is considered good. o Sena Coma (drag aged is in tam aaalap Market conditions in the Front Range areas are stable with evidence of stable values in most neighborhoods.Interest rates in the market area are currently in the 5.5%to 9.0%range.The subject is not felt to stiffer any adverse market conditions Gras.. no survey provided,per County Axe 3.24 acres sae retangular the farmland/mountain spefr mpo®+Mn A-1 &innlzapa AG Residential zan Odin [XI Or L has mmtn.gphvWed rgho f JMza.g I—Iw�srveann e re Wed ad Ina ante OW*a WWI Mel POW Pr P a.ad aheate4 re port at IXIta I IM rm.dmote s Wilda POW Ois ldoaW) Public Other(deaabe) Mahe Improm nes-TyP Public nitre I 'X err T Simi t/ aved X T Goo ea•aremy _ septic my no E Pea stem !bra Hone Na rite IXIM tea ware me C FIN. 080266 0750C rawlycoo 1982-09-2 M sin . Mm re .d We bpaaraa for Wad re ar .Mar TRI fm O IM roam he tan ay mase de acme a ear m laala6 enooramants, aaoaid edamn rd a tad Ire IX)M na dote The subject site fronts a well maintained Weld County street which provides ease of ingress and egress. No adverse easements or encroachments were noted however,no survey was provided. anrpaaysm raaddbn EdetrDesOnen mraWaYla tomb ramlrMnWa uYn IXJ on no.an Many Lit all camahsm EDI one ee ROOMY concrete/new Fbas Ne/crpl/wd/new *dada 1 wtalimat 1 IWawa genewsi stone/new aS drywall/new Argil obi I..FI sodEaaus seradsa 2,504 eq.t Mart sa comae/new TORO wood/new E�gI Pag®dI ludream 9neradwt, 95 it orS&CeM US metal/new soda ceramic/new o epua.) ranch [XI oaMEI.yet ) I s•wra•w Wanly a doubles/new sewn* ceramiKw ve'aa 2009 anneal Obtain amnsraara no/yes/new casing. I I moa<a.ra) F I edam! sans yes/new [Xletsi syc 3 C 2 IIIIcIII pa. FIX] (Mel Insist Win I I llt Otap/Sam [concrete la poem sba (lath rw gas X nwbcous2 Foe Gage *damn 3 / N I sea aarg MIes.aao.Mi.p X,P�pen X Iasi f cape aada l P wider Her -`I�tr ethe J.�jII Ibis ran aura M.jaiD . Isom'' G non I Inane IXIraao n)X1usurer IX'1awed Ibhaaad f )wel.oea I lardmeabn , ✓ wid.d me shook ass 10 am. 1 E.acceirt sdlq 2,636 ante run Gem el o tr Man O g hsa s da E primal gi Subject has n�v(de ipo}lpg.slab granite countertops,new cabinets in kitchen Iremodeled bath with coring,tub,vanity,and surround,and landscape of good appeal. a In pup dg nsdad mama WOO wan anadte abl The subject property is a ranch style home T of good quality,which appears to have average to good levels of maintenance.No hmcaonsl or external obsolescence a was observed. 6 Me fee ey Oval dHorb a adorn came tan sled re Ina curio.. a Sunni Nagy of are propene f ht. al M inn bake No adverse environmental conditions were observed See item 5 of the limiting conditions. cm to prey doer* WI") is in MOW' pnaa.l W. ap% was a olbsi. •rp (XlTes I IM roam Freddie Mac Form 70 Math 2005 Page 1 of 6 Panne Mae Form 1004 Mach 2005 Front Line Real Estate Services Summary Appraisal Report WELD Uniform Residential Appraisal Report Foes 096715WE COMPARABLE SELECTION CRl1ERIA The les used were selected due to their similarites to the subject in terms of size,style bedroom and bathroom co t feature,and condition. The comparables selected represent the most recent sale/listing activity subject market area and are believed to be the best indicators of the subjects estimated market value. Due to the subject and the comparables being located on sites larger than 1 acre it was necessary and appropriate to exceed a 1 mile radius. It was also necessary to exceed 180 days. THE COMP .ARLES SELECTED ARE THE MOST SIMILAR RECENT SALES IN THE SUBJECT MARKET AREA,and are i 6eslhdicators of the estimated market value of the subject property. The subject is a custom ranch style home with custom interior finishes,including hardwood and ;ceramic • lab granite countertops in the kitchen and bathrooms,upgraded plumbing and electrical fixtures. custom cam and trim in the kitchen and mud room,and two fireplaces. The comparables selected are all similar A custom style homes with similar levels of finish. D D SALES COMMENTS oAn adjustment for style has been made to comparable#4 to reflect the superior market appeal of ranch style homes N versus two story style homes.Como#4 has been included because it is also a new construction home. N An age adjustment of 3%of the sales price has been made to Comps#1,#2,#3,#5,and#6 to reflect the positive market Cappeal of newer construnion properties. Any adjustments for condition are included in the adjustment for age. This appraisal is subject Unfurl final inspection after the completion of the subject per plans and specifications. E N T S Car AMMO. TO TAME M aaaS b Falea rM blade aces!Mental tr to Yd14Nat b nps'tlr to babe and IRAs ad abllve appal tr M coital of sb W(wren of mrpaaa lad saes a del mlgb tr e ,S a WN The site value was determined using the exaaction method. c ,y 0 ( 11 T Es8MD® I IfITROOCIp10R IX(raaa,cerspoosrrtw pagan aF SITE vAuE_.___ =s 195,000 --_ 9aadmtdes Marshall&Swift Cost Index Dana 2,636 spaer 99.35 — —_._. -s 261,887 Fornayr.maeaaw very gut aeiaibdaeeb 12-07 BSMT 2,504 Sea @E 42.45 ___ =s 106,295 p Camera an C d/moan Nm Its lies Saida edPaalin dW R See sketch addendum. No functional obsolescence was caagacdlpa 1,210 Kart 33.00 ____. -s 39,930 o observed. Reproduction cost estimate calculated from Teranredooett, -------- 4 408,112 A locally adjusted Marshall&Swift Cost Index. Estimated Los PEWS Riddle Stale x economic life is anticipated to be 60 years. Minor oepadea -0- -0- -0- =s( deviations in actual floor area are of no value consequence. Owedad m d 408,112 •,wa vela of lie tin ..-- Y4 15,000 4 acrd Renato eaa,t u pin ad w aM 60 veers wake vela lb ice Added_ ___-s 618,112 fl APPROACH TO VALLE pot spale by Ewa ral c Elsa MteY Wel Pits X ours M Sr •t Model Vela by lure Moon O Sally d Kate Pµatlt edits spat tr make at ad MR E PROJECT IEOleAllO11 FM Pies 4 be M1etpeattr F mat d to IL..aee Aesadl1 flap Yak Pb Meade paged Malted Radde M timing Tbada tr Pita OGIY t to daa¢etritr is it meal of to t1M ad le about popeq IT at elated d1aa as D tgdrerodrart Tairuderdraste prnetadab Tmmdt rdaaale Tad mltadatiled Rrnae.dabtress pMSmon F cos iv plea aided b h aandon or step ANNA ib a 1'107 I IYes I Ira nefiORPRonotEn O Oyes M part main ay mraren ubt I beteUEb Wb3mo(q M to a canon ant ad eaeerm labs amptlet Ys El No Dracloobteriaadmi t A LINO I Pre to=ROE ones west b a M le Namaea Pmap I IYs LINO rvabaMte satesadapraa O Dab carbon Saab ad wsedsle aka Freckle Mac Fun 70 Mack 2005 Page 3 of 6 Fannie Mee Fain 1004 Math 2006 Front Line Real Estate Services WELD Hera. 096715WE PHOTOGRAPH ADDENDUM Borrower or owner SAUER, Abraham & Christine Property Arkkess 6715 Weld County Road #50 cry Johnstown Casty Weld Slate CO zip code 80534-9501 csert Pinnacle Mortgage Group/Broadstreet S, 6715 Weld County Road #50 BATH • ' -Illeauellux saamji 6715 Weld County Road #50 GARAGE i a As':-.:w�.. .� 'f - _ # , • . ♦ �: -s '..ft . y _ 6715 Weld County Road #50 .. GENERAL VIEW 6 5 4tamialliaii ,:rp- jak, : _ _ ; or- 1. 4r, i a. _ a-y hf. ter}: i Front Line Real Estate Services WELD Fie No. 096715WE PHOTOGRAPH ADDENDUM Borrower or Owner SAUER, Abraham & Christine PincertyAddiess 6715 Weld County Road #50 cti Johnstown ant, Weld she CO ZP ccde 80534-9501 cbani Pinnacle Mortgage Group/Broadstreet ;.,s:, 6715 Weld County Road #50 LIVING ROOM >; . $ • i - �- .. ' rJ r.l^ ' .. 6715 Weld County Road #50 . : DINING ROOM S •r r' ".a I 1 r. 4 - : I 1f-•' - - i- _ c- 4? -Fig � Z ;w „jh ,, :.: . 6715 Weld County Road #50 to KITCHEN ;r . 4 ., 1 • Front Line Real Estate Services WELD Fie No. 096715WE PHOTOGRAPH ADDENDUM Borrower or Owner SAUER, Abraham & Christine Ropeiy Maass 6715 Weld County Road #50 cty Johnstown Carty Weld Slate CO zvcoae 80534-9501 ciert Pinnacle Mortgage Gmup/Broadstreet _::_ F_=z'_r cf- FRONT VIEW OF SUBJECT PROPERTY \ . .• • Itisra_ . Cr ` " - REAR VIEW OF - "' -- SUBJECT PROPERTY I u �•:_ t .rt i .,. kit, I p _ - �- --r .r .. w-.w.„ Arrintision • I n„. . 1 ' STREET SCENE OF -r, SUBJECT PROPERTY • f e. r —+ revs mow = .. -,-.I.5. r...,--__:;4- " }Z rrte 1 `L Sf�F3 ' Ti� . ` a h �.4w zll_.4 ...v< tr• y ��•9-243 .-.-,'/}� t h w Y h y . .a �• _ tin y - Front Line Real Estate Services WEIR reae 096715WE SKETCH ADDENDUM Berms Of One, SAUER,Abraham&Christine r.oe%'rora 6715 Weld Cowie Road#50 cSr Johnstown o>,.., Weld ✓nee CO z,cca. 80534-9501 chin Pinnacle Modems Orou n B1oa1JSU..t 1. 7x .r a Lr 4. far V sax U. Si, N=Bk On*91010 eetoon tr tj Brr= en.. a V. dY 22-1. Rr Ming Belt tu• Item la Lamar Eger er, I' 14 3' rr == tK tri- V r r' r rct' u It Iv It r ar 7. Ltd ar V a6rr nA'r Bedew BMmn 1r Roan tax &Sm. ur pu ru• "at'° Be e Be Bedroom era. Berne. Mitt Din u VT 1[r Wit r T 1 kt• u• - nmira 1828841 208 ale 19.0 X SD= B6D 105 X 30= 315 Est 11.0 X 25= 275 Binned 2618 210 405 X 10= 40.5 X 80= 5230 efeageleaptrt 774 X 30= 242 niched Gaga 1210 144 87.7 X 163= 264 X 30= 792 £r.0 X 30= 190 153 X 30= 659 7D X 1D= 7.0 7D X ID= 70 160 X 25= 360 Tad 23383 scour tmmar Front Line Real Estate Services WEIR �.� 096715WE FLOOD MAP oar sv or oars SAUER,Abraham&Cbristine v„wyser 6715 Weld County Road#50 cis Johnstown ca•* Weld 9r Co zpo» S0534-9501 caw Pinnacle Morteave Grown/Broadstreet County gOkla Subject 6715 CX MITY RD 50 JOHNS`f'0IWYN.co 80534-9601 \\A m s tl tf s mitre DT 11 ' 1 Flood Zones Nee taedeed by E00yartoai8 Ell Rankin ass Aar outside Mho 100-eS90Dyer Iced pO NM Flooding was WM study hard . Na Inundated by lOD•yertwodb8 Na d tttdaenti.d but psi*Rood Itmtds Ass Ins llnedby100-pr0 alma nth vela*ho rd o Anon rttaappedan any*tad RPM thatIMISDNimmlan Tli!wattle brla So bent alto CuMornerirtadend end paid Leaadx 402011111214011 farts Repot Ind Y tendon 8.pops edbtteeaatpeottatltgthe latftdr -0ORRORI7439672 Customer.MutCam umcello Nunn In aqua In bane �y A Y wAnlsd baor Sy unit Repatbrgoy pepaea�NRJR� FIRST MBMC W ROOD DATA B RUSIN NOR THE SELLER OF 000lnu yr: MOMS THIS REPORT ORI MM ANYREPRESENTATIONSORWARRANTIES HA Ø900d Zonfl Out WANT PARTY CONCERNING THE CONIBIr.ACCURACY OR WMit 250E.dnoulip efoadwise NO CAIIIETBF96OF1HI8 REP,OR►.NCUIDSIGANYWM7tANW Z01a C OF MEICHANTABLITYOR RIMS FORAPARTWCULAR Pent 07ESC Penal Ds f am PURPOSE. Nils FARES norM sirdrie Repot IRS botany FPS Code NW Census Mitt 21 bilk taway fedprgaryunrmla.ednaRipon. Front Line Real Estate Services WELD ABMs 096715WE DISCLOSURE ADDENDUM fioenn or o.'w SAUER,Abraham&Christine Pawbpaa•a 6715 Weld County Road#50 cry Johnstown cam Weld ere CO aeon 80534-9501 ureter w cant Pinnacle Mortgage Grouo/Broadstreet DEFINITION OF INSPECTION: The term"Inspection",as used in this report,is not the same level of inspection that is required for a"Professional Home Inspection".The appraiser does not fully inspect the electrical system,plumbing system,mechanical systems,foundation system,floor structure,or subfloor. The appraiser is not an expert in construction materials and the purpose of the appraisal is to make an economic evaluation of the subject property. If the client needs a more detailed inspection of the property,a home inspection,by a Professional Home Inspector,is suggested DIGITAL SIGNATURES: The signature(s)affixed to this report,and certification,were applied by the original appraiser(s)or supervisory appraiser and represent their acknowledgements of the facts,opinions and conclusions found in the het Each appraiser(s)applied his or her signature electronically using a password encrypted method Hence these signatures have more safeguards and carry the same validity as the individual's hand applied signature. If the ru,purt has a hand-applied signature,this comment does not apply. APPRAISER ) SUPERVISORY aaauw®k sYS tan Anew ""• nougat July 2.2009 aeayaa Sale ea a CR40023672 matt 'rattan)* txSIM Weiset CO ESA CO ats 6pieoeercatlm"rtat 12-31-10 Evasion oarcaaormatama pot DOERS ematRoost, Front Line Real Estate Services WW2 Pie Na 096715WE [Si CURRENT gal rS CONTRACT ® The abject Pmmy is aasdty net naldr eernan. ❑ The wales at meow eammma wee not evadable to moires The iawbbitiry of tc mat is Mxpleted later in the addenda mum. ❑ The contract at mow mmmmva were reviewed. The following summarizes be area= daemon o! amendment nee cams Price Saar SAUER,Abraham&Christine ❑ Tk net vidimled that mooed property wawas s net ead.md in de sale =❑ The mr Indicated that pm®I popery Included. It aa®sd of Estimated aambtoy value is S ❑ Pteaad pnPdy vs net included m the final value Winer 0 Personal panty was Yrbdad in be final vale estimate. ❑ The contract indicated no lintwedng concessions a obm mmtues ❑ The =tract mdvcd the thawing concessions a lumcses: ❑ If concessions a incentives exist, the mepsat were decked for anal concessions ad 4ptoplia adjuster's wee nth, if applicable, so that the final vale casimm Is in complain= with the Market Value delved Mean Q MARKET OVERVIEN iaia ..wwalar aeumst nine Mullion.and Veda 3-6 mate s ma;daed a rwaute marketing plied fir the area pretty based on data obtained from the local MLS. ® ADDITIONAL CERTIFICATION The Appraiser certifies and agrees dad (I) The merles, Mans ad a.rk®aa .arc dcvdope. and this report an premed en am nney with de Lithium Sender& of Picifiessional Appael Padre ("USPAP'Z except that do Departure Ptwsm d de USPAP dos not apply. (2) Then ormvsem a in mega[ tear le repatvp of predetermined d vale a beam in vatic that ram the tee of the client the amok of be vale ornate, the atenaad era apaeed rank, a the ®ate of a nbeumt event (3) This appraisal assignment was In based on a niquested Miriam valuate, a specific valuation, a do appwa of a bon ® ADDITIONAL(ENVIRONMENTAL)LIMITING CONDITIONS The vale in is bad on the assumption That de pretty is not negatively effected by the ethane of hazardous abm cm a detrimental enact-menial =cave tuna otherwise slated in this =pat The waists is not an ap=t in de idveifirsm of Islamises abmnces a tinnutsl enviotenenbl editions The appraises rote imputes of and agonies about the subject pmwly did not develop any infinnaam tat edited any agora" significant h®dm attar=s a hemmed mwv®sd a=d'aoe which would affect de popery negatively odes otherwise sad in tea repeat it is potable that em aid inspectors made by a qualified l®doa ate ad environment eft would mev®I the existence of hazardous substances a caiman a irs:natal =loon on a an=d the property that word rciptively affect its value ® ADDITIONAL COMMENTS This appraisal report is computer generated and the signature below is true and exact to my original. ❑ APPRAISERS SIGNATURE LI & CENSEICERTIFICATION Appraisers Simian EffectiveEf e= oakve n O63O-2O09 nee Pmmad-tidy 2,2009 Apps rime (pee drew Rendell Plana ( 303 ) 400.4505 Sae CO ❑ Liam ® Certification CR40023672 Tat IDk ❑ CO-SIGNING APPRAISER'S CERTIFICATION ❑ The cosigning appraiser tr praa.ry Inspected the atjea pmmty,bah inside and sea,and has made an Maio inspects of all comparable Se, led in the wont The meat vas prepared by the manses at diem apnvavu of do cosigning moaner. The co-signing appraiser accepts seanositrey for dr attn of the moat including the vale Maki= and the bntn midi - Ma and confirms that do mtifiSvs apply folly to de a,-signing apps. ❑ The cosigning appraiser his not personally sired the interior of the abject papaw wet ❑ w not Impeded the coati= of be subject property and all comparable ales heed in the spat ❑ is Inspected the exterior of de abject property and all mmpaeble sales fund in tlie ant ❑ The r=at am p=ad by des: Wither tad= dam angmviam of de mspnalng a4pala lit msigmcB apt®a emcee rspaiskelry for de Wriest of de min, including de value cmt®om and die Mating coalitions, aid confines that die mt&atva apply fully to the cosigning =paw with the ecceptics of the mlifiatim regarding physical inspections. The above demise the level of itwatim perfumed by do co-signing appetiser ❑ The cosigning appraiser's level of apakac thwtumesa in the appease] pew and catfioaas are avid eisewlae in the addenda swoon of the alpathal ❑ Cn-SN;NING APPRAISER'S SIGNATURE&LICENSEICERTIFICATION Co3ign g Apnea's Signature Effective Date Oa Pngad Co-Signing APPaso's Nape (Pitt)) Plank ( ) San El License se Certification k Tax ID FWlal Front Line Real Estate Services Ilemmsoeao mini WELD File No. 096715WE MULTI-PURPOSE APPRAISAL ADDENDUM FOR FEDERALLY RELATED TRANSACTIONS Bogmeocba SAUER,Abraham&Christine Property Address 6715 Weld County Road#50 city Johnstown only Weld spa CO rpc:de 80534-9501 Irdr Pinnacle Mortgage Group/Broadstreet This MulliPure= Supplemental Atklatn for Fabny Rated Trrsit:liar ire drained to provide be ewer with a cm - vain way to comply with the anew applied MandaA ad repuuarctls of the Federal Deposit Immn amnion (FDIC). to Office of to Compeller of Qnatry (at), The Office of Thy Spervisim (O1S), the Reshnvn True Ornery (RTC) and the Federal Reserve lit Mtilidknese Sopplenatel Ar am is far as lath r spat Only anions inn have been Add by It Maser 414 b to Mane belt gntk ® PURPOSE&FUNCTION OF APPRAISAL The papa: of to amend is In tenet err market vale of fir abject popery as defined bat,. The function of the appal is b assist the aborxarand Later m eventing to subject papery for leg perm This is a Federally tiered tlosrtion ® EXTENT OF APPRAISAL PROCESS ® The app®I is have( on the infornatim ganged by the arpraiser San public toads. can idemfed amen inspection of the subject papery ad neighborhood and selection of copmble ales with the abject inns area the original mom of the mar parable is shown in to Data Sonde scan' of be market grid along with to swam of oodvtmdi n if evadable The original swam is pmtrd fit The snores ad data am considered idiSe When conflicting incantation wait podded, dr some domed most tdiable has b® need Data bdi red to be aunts. was 'a included in to teppt no used as alma it the vale conclusion ® The Repabrtm Coat is laid m Locally adjusted Marshall&Swift data,not completed for Condominiums .s pplmnmd by to appnesea knowledge of dr lent rake ® Physical depmsm is bawd m the eating wive age of the nest property. Functional mdse external damson, if pest is medially add in the appaml repot or t added In manning the site vale the sprain is relied at pers®l knowledge of the lead market This kwwkdge is bbd on pmt rWa anal analysis of the sides aod'm Manion of eke vales Stun sales of imposed wrens ® The abject property is kneed in en asn of primarily mvmccid .male Sr* t®rmea and to Lame Approach is in con- ned to be rat For IS ream the home Apptet was rot teed ❑ The Panora ).Lid Rai and Cram Rat Multiplier Seed in the hone Appndt we brad on dr organiser's knowledge of the subject mailer an The real knowledge is basal on pis an or anal real rate envoys d residential popsies The Cam Rea Mutt sir is !ad m pia milks aura analysis of pin and meant raves fa reader prtpetn ❑ For lactic padmg popatR red ram, unmade and epees Sr beat reported and analyzed They haste bent used u pro- ject fine wets, vacancies ml agave ® SUBJECT PROPERTY OFFERING INFORMATION A®dkg to Multiple Listing Service and County Records the stbieet Property: ® has net bans Sea fir sak in the pd 30 days ❑ is ant arced for sale fir ❑ tided fir ale within the past 30 days fir S ❑ Offering lifirostim was eeneldod in the fwd itercinicn of value 8 OEavg information it w net what in the final remtdiffim of who Offing i'mnmm we not evadable. The: reasons tr unavailability and the step San key to amain are explained tar in the aldmdnn ® and FS HISTORY OF SUBJECT PROPERTY According to County Records and the Local MLS the subject poPel) ® Ins no trans it in dr past dirty-six nabs ❑ ha aaarrrd in dr ea thirty-six mans ❑ All par der which have canoed in to pest tlSMSx marls are tined below and recompiled to the manned vale, either in the body of be report or in the dden txb Sala Ara boa.n.ttS Saar sera SAUER,Abraham&Christine ❑ FEMA FLOOD HAZARD DATA ® The subject poverty is not Iaad in a FFASA Special Flood Hand An ❑ The subject popery b loeiad in a FIIv1A Special Flood Hand An Senn Feu Nypael Map wan NOV.of Carnnaxy C 080266 0750C 1982-09-28 UNINCORPORATED AREA ❑ The common dos not parrots in the Naiad Flood Insane Ragan 0 The oarrndty does patleb,m in the National Flood havare Feign ❑ his rased by a spar amain ❑ It is nosed by en smarm" Mgr Fowl, Front Line Real Estate Services nil detest WELD Rarer 0967I5WE Borrower or One SAUER,Abraham&Christine Poopabraae. 6715 Weld County Road#50 oat Johnstown dug Weld sac CO zpctm 80534-9501 unarm or can Pinnacle Mortgage Group/Broadslreet CONDITION AND ENVIRONMENTAL ISSUES: The appraiser is not a home or environmental inspector. The appraiser provides an opinion of value. The appraisal does not guarantee that the property is free of defects or environmental problems. The appraiser performs an inspection of visible and accessible areas only. Mold,lead paint,asbestos,radon,expansive soils,termites,structural problems,toxins,and other such hazards may be present in the areas the appraiser cannot see. A professional home inspection or environmental inspection is recommended. COMMUNITY ISSUES: The scope of this appraisal does not include any attempt at the discovery or rtpmdog of any potentially adverse neighborhood or commrmity influences such as,but not limited to any nearby criminal activity,registered sex offenders,or any rehabilitative,correctional or half-way facilities for felonious offenders. Any concerns of the client should be directed to the local law enforcement or regulatory agencies. FINAL RECONCILIATION The appraiser's final conclusion of value is based upon the extraordinary assumption that there are no hidden conditions to the subject property that might impact upon its value,marketability of habitability. The appraiser makes no representations, guarantees or warranties that there are no such hidden conditions whether they be hidden easements or encroachments, unknown changes in building codes or zoning,or environmental such as geological,toxic or hazardous,mold or infestation. SCOPE OF THE APPRAISAL This appraisal was completed for the client Pinnacle Mortgage who stated that they,are to be the only Intended User. This appraisal was completed to determine an opinion of fair market value in relation for the purposes of getting a mortgage loan in a refinance transaction of the subject property located at 6715 Weld County Road#50. The client has not identified any other Intended User other than itself;and therefore this appraisal is not intended for any other third party not listed as an Intended User,including the borrower or any other party,even though the appraiser understands as part of financing regulations the borrower may be given a copy of the appraisal report Any third party who iewirss a copy of this appraisal report,as a consequence of discloser requirements applicable to an appraiser's client do not become intended users of the report unless they were specifically identified by the appraiser at the time of assignment and are noted as an intended user by the appraiser noting them as a client. All other parties that choose to rely on the appraisal report should recognize that the assignment results were not developed or reported in a manner consistent with the needs or uses of parties other than those identified as the client who is the intended user. DATA:The appraiser visited the subject property on June 28,2009 and used a survey measurement tape in tenths to measure the subject property according to ANSI standards. The appraiser has provided a sketch in this report to show approximate dimensions of the improvements. The sketch is included only to assist the reader in visualizing the property and understanding the appraisals determination of its size. Variations in the size of the property from available enmity assessments or other measurements taken by other entities may be due to variations in measuring techniques used by those services. At the time of visiting the subject home the appraiser completed a limited viewing of the subject home from the exterior and interior without climbing on the root;operating all of the lights or appliances. No specific signs of infestation,moisture mold or structural issues were readily notable. However,the appraiser is not an expert in any of these areas and did not conduct the type of intensive inspection required to discover any such concerns and this appraisal should not be relied upon as a substitute for a home inspection. In viewing the subject home,no readily observed site conditions or external factors were observed. Many site-related issues are beyond the scope of this assignment and the expertise of the appraiser. The appraiser was not supplied with a professional survey and standard utility and right-of-way easements may exist and a professional current location or boundary survey may reveal encroachments,easements,zoning violations,or other matters of interest that could warrant modifications of the appraiser's analysis and opinions. The reader is directed to Limiting Condition#5 within this report to understand the limitations on the appraisals responsibilities relative to hidden or=apparent physical deficiencies or adverse conditions of the subject property. If the client has any concerns about any potential or possible problems with the subject home,they should hire the appropriate expert to inspect the home. Photos have been included within this report of the interior of the major rooms within the subject home and any items of concern to the appraiser at the time of viewing the subject home and document the condition of the home as of that date at the time of the appointment The maps used within this report come from online services and are meant as a visual aid only. The appraiser cannot guarantee the accuracy of the flood maps,due to any possible changes of terrain due to construction or environmental causes or due to the length of time in which the government updates their maps. Any specific concerns should be addressed by the client through a professional survey by the services of an expert Statements regarding zoning compliance are intended in the most general sense. Zoning and building ordinances vary significantly from one municipality to another and are applied on a case-by-case basis. The scope of this assignment does not include a detailed analysis of every characteristic of the subject property's site and improvements relative to current current zoning and building ordinances. The appraiser is not an expert at building or zoning codes and has not performed any study of either building codes,specific building permits for the subject property or any building or zoning violations specific to the subject home. If the client is concerned,an expert should be retained to study such concerns with the subject Propeny. Front Line Real Estate Services WELD Market Conditions Addendum to the Appraisal Report Pia 096715WE llle PBae a Id Sheen Y b wtb tie b=read way a der btl m a palate a a.nrs Ind an made pear e Me alto! nalacrecol a Y a wpat alaan tr•appdel,peb ea an able atone der a t, aID P alrAfaes 6715 Weld County Road#50 der Johnstown la CO Mai 80534-9501 Bawer SAUER,Abraham&Christine hake e: The Balm ms m be area epee on to an t.bra b per area as mar wade aryl tr Ira eras area rang her as oar mat in e s ea b Tr rea=led each a M Bess at en It.;{abs mall In sae Man b be seat t is able as ate as a paid evades rdret beer. a ay rasa a a nab ne is mama able be appals"ml paele an spans=I Y anal to rte s t[s ma a is ebb b pare dm Or Me redid bas a I 1 Y as a=ar,I.Beds n M ha a.ri b be aerni I ar aaam•pad be earl Ybne,as an beep tad a I.media Me Baaha asp wpm ti sabre t,a as fl,1 r an saga son as are ms be MSS.IS app✓♦at e.aqo Frrpray. Mae Or Bfaaa Ia aid It web be ese by a Petri acne atel pcpse It.appear as as a ant a be de. a ,is sans its 1 area= bear.! Inventory Aasysa Pub 7-12 Mate Rb 44 Maas peal-3 as O_ Trap TbSaarmpm9rrsr4 9 3 2 ear 'YSAO Da na imptmad(ralarauaq 1.50 1.00 0.67 taro 'Tas oewa N Teaaacnpaminasa N/A N/A 2 Dean alb harm A MaoaalbeasppytraauapPAraq N/A N/A 100 nesaa if- has sang RMedian albs lit Pans mall,liable Rabe Rb 7-12 Mate Rip 44 Mute art-3 Man Oar !land E MednanpmadRAe 515,000 445,000 550,000 harp X ala liana T &b arpeadaaeoeporat 139 142 161 paanry "57 ebb hoernY Gate CaryaslYRb. N/A N/A 546,750 bona Ste - Dacha MamnanpobLSO aarel N/A N/A N/A oesaa set r harp a MednsdRbassawro 97.46 99.67 97.02 Yon. ab Daly E Sasiee bps dab.sypraa oaaW trepw. n I1w lnl Ma Dan as Pbarp Asort b edit ti earn mobs ear tr is Pe 12 moos no. tar°outdo Ind ken 311 b aa. bang a a bwmaa map a4 rem c Yea Bra air Seller Contributions do not appear to be a major factor in the units/homes in the area when moiled they N are usually between 3%to 5%. 6 A N Me anode ad MO sap a Ism In as ill 'Ap i Tr [lib I's.. ape Para Is and El Yap as min of toted pPaaay A The foreclosure(REO sales)are a factor in the subject market area. There are essentially two markets,one for yforeclosure(RED'S)and another for market sales. The foreclosure/REO market contains lender owned Properties which s have been vacant and are in average condition and have had services turned off and may be in need of repair. Market r sales include mom.tits which we in good/updated condition and are"move in ready"and are at the top end of the range a for the subject market area. There is balance between supply and demand in both sub markets and they are considered stale le. es or oam b mere Nara Data obtained from the Local Multiple Listing System. em's In One deed= s aryl tr sar cranes Y be PW$l .A earn a es Barba net tan Inn a we 'st kale and as n alms a p r as as Oar as Sham Ma b 5a pr arenas pone Yin an aBieYl at aryl b pr muter Home values in the subject market area=pear to be generally stable as is evidenced by the small fluctuations in the Medain Comparable Sales prices. Median Comparable Listing Days on Market information is not available torn the Local MLS. Variations in the Data between the information on the 1004 form versus Page 2 of the report may be as a result of the"Subject Market Area" including saks from outside the subject"Neighborhood"which are still located in the"Subject Market Area" which compete directly with the subject property and are considered to be comparable to the subject and provide the best indication of the overall trend in the subject market as.rda.rss.sn Pace Rae: St raRBarlaa Ma 7-12 Maas Nor IB Mar peat-3 Ma par Tara TdoltdCarostbsdraNses. a�kneed' j obi .=area o AbaartrnRr(rmsrsdae) _ Fora au Oath, N Takao earaabbtaa s ..r perry 9Ib Iaealp D eaWaaY cigt alt Dario alb Yang 0 he braes phi Q£-0 W a bla in b.part Uy ro aye near tie ranter a la3) Yip as ea he an in Shp as 9b a c ream! papa 0 0 P P R O � se=ems to era Yea N baba be Yea at b atPd tit as Moo E p T S A Sere �~ Sara ✓ Apes Wes An Rendell 'paaltraN e R Bore=rs Front Line Real Estate Services rmpayPae A oeranpaas 6583 South Kearney Circle,Centennial,CO.044at vMfe. $ saer;adcaMrana CR40023672 Sae CO Side usescwMod,s sae • Fen-Mint ar'aan Farad Mc Finn TI Mad 'OD Pqe 1 a 1 Fate IS rain =NC Met 2m Front Line Real Estate Services WELD Fie No. 096715 WE E LOCATION MAP Borrower or Owner SAUER., Abraham & Christine ry fin 6715 Weld County Road #50 cay Johnstown Ca" Weld stale CO zpcode 80534-9501 cs i Pinnacle Mortgage (iroup/Rroadstreet 'tit- map - Microsoft St reels Et Trips ` s EHe tat Jew Qato Rote Deis dell) D ii: iel a ELJ titb r, F d` m A Fsi in d fi P: 4 a= v FM e ® `-! \1 •Road KIP t J4er0dut ktriatjca a� d ``ta e-& Cat;aradta frt ea -_ - ,..c.. i /yam.t.Untitled 3 XL @S toe - 9HFCr 54 4 ea Mt)S1Evans_. L !V R 1 M R I i ( TI ® 257 pWilt-- 35 , i 1 i 1,Safe 37; t • . a.•.. JD1Yoatown 17 60 I . -- _ n -----r-e- ---- - --- 20857 Northn er Dr, It .. l COLORADO S 20857 Nord-nor Er ktrotown,CO 80534 • I I — as7: �e — — � 1; WELD t :Si-- _ ,✓ I 13 I I= i ; • i Untitled X I• I 1 $5 18309 weld Road 41 0 GlIcresA tktlbd2 X: 3s I3¢25 ca,t —] ' I ' 16497 Ledy+edkt' MeadCO... Xg , ... Mated O105 Mad 230 Mogan Lair trr ri Mead,CO 80542 Mead.CD 80542 St* 13 IA J1 Front Line Real Estate Services Fie No. 096715 WE PHOTOGRAPH ADDENDUM Borrower or Owner SAUER, Abraham & Christine PropertyAckliess 6715 Weld County Road #50 city Johnstown con, Weld state CO zccoie 80534-9501 Cbent Pinnacle Mortgage Group/Broadstreet I COMPARABLE #4 -g ' S --- 3225 Snowberry , � Court_ ma',. • Price $598,000 : i' Price/SF 159.89 - LII � Date 03-23-2009 A..„ ,. > ,� Age 2007/new 1~ R Count 10-4-4.5 _.. , lawn -. Living Area 3,740 Value Indication $601,040 +!!r - --.sal ;= •,.. - _._ F ' t - •':TNt COMPARABLE #5 % 20857 Northmoor ' Drive $624,900 z ;.' Price/SF 229.83 � •y Date TBD rw • - ` Age 1,999 Room Count 11-5-3.5 4,4-- • • Living Area 2,719 +` Value Indication $636,640 + COMPARABLE #6 16497 Ledyard tr.\ Road South n T' Price $602,874 Price/SF 226.64 Date TBD ift4 1 Age 2,006 :` Room Count 11-5-3.0 Ill �c.. iii i Living Area 2,660 acs. : Ifi % : Value Indication $618,960 . /. • . 'rI l trot�M tit + 'I' • % • % ,,, .pia. # Front Line Real Estate Services Hello