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Home My WebLink About20111970.tiff a CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4226 FAX (970) 352-0242 1150 O STREET P. O. BOX 758 IGREELEY, COLORADO 80632 C. COLORADO August 26, 2011 HUTT SCOTT D 6911 22 STREET GREELEY, CO 80634 RE: THE BOARD OF EQUALIZATION, 2011, WELD COUNTY, COLORADO - STIPULATE PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE DESCRIPTION OF PROPERTY:ACCOUNT#: R8201000 PARCEL#: 095916011009-GR DRCR L9 BLK7 DRAKES CROSSING 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 $191,906 $181,000 2011-1970 CC'.' �°�T /ever d� o?D/% AS0079 HUTT SCOTT D - R8201000 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, Esther E. Gesick Deputy Clerk to the Board cc: Christopher Woodruff, Assessor 2011-1970 AS0079 2011 COUNTY BOARD OF EQUALIZATION WELD COUNTY ASSESSOR'S ACCOUNT NUMBER R8201000 STIPULATION (As To Tax Year 2011 Actual Value) RE PETITION OF: NAME: HUTT SCOTT D 6911 22 STREET GREELEY CO 80634 Petitioner(s), HUTT SCOTT D 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: GR DRCR L9 BLK7 DRAKES CROSSING 2.The subject property is classified as Residential property 3.The County Assessor originally assigned the following actual value to the subject property for 2011. LAND: $40,000 IMPROVEMENTS: $151,906 TOTAL: $191,906 4.After further review and negotiation, the petitioner(s) and Weld County Assessor agree to the following actual value for the subject property. LAND: $40,000 IMPROVEMENTS: $141,000 TOTAL: $181,000 R6201000 GR DRCR L9 BLK7 DRAKES CROSSING 2011-1970 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 20 day of July, 2011. Petitioner(s) or Attorney Petitioner(s) or Attorney Address: Address: �9 ) g w 2zA. St r eekA, , co 2Oec,�`� Telephone:916 537 376n4 Telephone: County Assessor: ADDRESS: 1400 N.17th Avenue Greeley, CO 80631 (970) 353-3845 ext. 3656 R8201000 OR DROR LB BLN]DRAKES CROSSING 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 rti R8201000 2011 2081 GR DRCR L9 BLK7 DRAKESaROSSING 6911 W 22 ST, GREELEY _ CC z HUTT SCOTT D Q 6911 22 STREET >. GREELEY,CO 80634 I- i 0. ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR TO ACTUAL VALUE AFTER REVIEW REVIEW RESIDENTIAL 213,384 191,906 TOTAL $213,384 $191,906 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. The local taxing authorities hold budget hearings in the fall. If you are concerned about mill levies, we recommend 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. Please refer to the reverse side of this notice for additional information. APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 1 through August 5 at 915 10th 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`"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.) $ t'7) 11Oe) What is the basis for your estimate of value or your reason for requesting a rev' ') additional sheets as necessary and any supporting documentation, i.e., co y original installed cost, appraisal, etc.) 0. S t Pc JUL 0 8 2011 WEW CQUNTY-ASS€SSOR 0RFFI EY. COLORADO ATTESTATION I, the undersigned owner or agent' of the property identified above, affirm that the statements contained herein an o y attachments hereto are true and complete. 970-339 7‘P 712 )2.611 Signature Telephone Number Date Cz 3�'I 3d4 Z 15-DPT-AR .fit 9- PR 207-08/11 R8201000 11758 1 Attach letter of authorization signed by property owner. 7/8/2011 PROPERTY PROTEST Sold Properties Date Sold Property Address Selling Price 9/30/2009 3004 44th Ave, Greeley, CO 80634 $157,500 7/17/2009 3124 49th Ave, Greeley, CO 80634 $171,900 6/30/2009 2218 69th Ave, Greeley, CO 80634 $170,000 12/8/2009 5117 W 17th St, Greeley, CO 80634 $175,000 1/16/2009 2101 69th Ave, Greeley, CO 80634 $157,000 Average $ - $166,280 Appraisal As of May 20, 2010 $177,000 Attached Settlement Statement Purchase of Property-June 9, 2010 $170,000 Attached Based on Property Sales, Appraisal and Purchase- Final Estimate of Value for this Property should be: $171,000.00 Scott Hutt Property Owner 6911 West 22nd Street, Greeley, CO 80634 Ph: 970-339-3768 Cell: 719-337-3082 • Listing Detail for 3004 44 Ave Page 1 of 1 Listing sent to: scott.hutt@agcocorp.comon May23, 2011 3004 44 Ave, Greeley, CO 80634 ®mss • , :: ::` r 157 500 Residential Detached -...;.Ned. .: -c`' IRES MLS # 600355 Sold ,.; Bedrooms: 3 Total SqFt: 2456 • Baths: 2 (2F) Style: 1 Story/Ranch R • '' " . Garage Spaces: 2 Year Built: 2004 �� . I+iL .'`` • County: Weld Area: Greeley/Weld s • Subdivision: Gateway 3rd Filing - Description Beautiful 3 bedroom, 2 bath ranch home with vaulted ceilings in living room, kitchen and dining room. Main floor laundry. central air, and full unfinished basement. Nice fenced yard with patio and deck. Lawn sprinkler system. Buyer to verify measurements and schools. Seller is licensed . . . as Colorado real estate broker. _, . aw. . • . . . _'.t General Features Square Feet Room Dimensions Listing Type: Residential-Detached Total: 2456 SqFt Master Bedroom: 14 x 16 (Main) Garage: Attached Finished: 1228 SqFt Bedroom 2: 13 x 11 (Main) Zoning: RL Total Finished: 1228 SqFt Bedroom 3: 13 x 11 (Main) Legal Description: Lot 3 Block 12 Main Level: 1228 SqFt Kitchen: 10 x 15 (Main) Basement: 1228 SqFt Living Room: 12 x 14 (Main) Taxes and Fees Laundry Room: 4 x 7 (Main) Taxes/Tax Year: $0 / 2003 Construction HOA Fee/Freq: $150 / Annually Construction: Wood/Frame, Brick/Brick Veneer Schools Cooling: Central Air Conditioning School District: Greeley 6 Heating: Forced Air Elementary: Ann K Heiman Middle/Jr High: John Evans High: Greeley West Note: All room dimensions. including square footage data, are approximate and must be verified by the buyer. Additional features Design Features: Open Floor Plan, Washer/Dryer Hookups Basement Foundation: Full Basement, Unfinished Basement Inclusions: Electric Range/Oven, Self-Cleaning Oven, Dishwasher Diana Luthi Group Centerra 970-679-1552 Phone Fax 5401 Stone Creek Cir . Loveland, CO 80538 �9 dluthi@thegroupinc.com 970-613-0700 Phone 1970-667-7955 Fax.1` http://www.lovelandrealestate.com El http://www.lovelandrealestate.com THEGROUPINC. Real Estate Listing Agent: Rick Wallace I Listing Office: Scott Realty Co. MLS content and images © Copyright 1998-2011 , IRES LLC. All rights reserved. WARNING. This database record is provided subject to limited license rights. Duplication or reproduction is prohibited. http://www.iresis.com/cwa/link/listing?llid=vxtk8s&lid=900291 7/8/2011 . Listing Detail for 3124 49th Ave Page 1 of 2 Listing sent to: scott.hutt@agcocorp.com on May 23, 2011 3124 49th Ave, Greeley, CO 80634 ©WSw RES $1714900 Residential-Detached IRES MLS # 594069 Sold Bedrooms: 3 Total SqFt: 2974 Baths: 2 (2F) Style: 1 Story/Ranch Garage Spaces: 2 Year Built: 2000 County: Weld Area: Greeley/Weld liria. Subdivision: T-Bone Ranch Description BANK OWNED!Don't miss this beautiful 3 bed 2 .__ bath home located on a 1/4 acre lot. Enjoy the open floor plan. gas fireplace, hardwood floors, • • large deck, and the beautifully landscaped yard. Purchase this property for as little as 3% down! This property is approved for HomePath Mortgage and HomePath Renovation Mortgage Financing. Please contact listing agent for more information 7 .1 Please Proof of financing required on all offers. p " r`' - Extras tab for writing instructions. GOT REAL ESTATE?! General Features Square Feet Room Dimensions Listing Type: Residential-Detached Total: 2974 SqFt Master Bedroom: 13 x 12 (Main) Garage: Attached Finished: 1580 SqFt Bedroom 2: 11 x 11 (Main) Lot Size: 10890 Total Finished: 1580 SqFt Bedroom 3: 10 x 12 (Main) Acreage: 0.25 Upper Level: 0 SqFt Kitchen: 17 x 16 (Main) Zoning: Res Main Level: 1580 SqFt Living Room: 16 x 14 (Main) Legal Description: Lot 2. Block 1 Lower Level: 0 SqFt Basement: 1394 SqFt Taxes and Fees Taxes/Tax Year: $1203 / 2007 Construction HOA Fee/Freq: $215 / Annually Construction: Wood/Frame. Brick/Brick Veneer Schools Cooling: Central Air Conditioning, Room Air Conditioner School District: Greeley 6 Heating: Forced Air, Humidifier Elementary: Monfort Middle/Jr High: John Evans Driving Directions High: Greeley West At intersection of Highway 34 and 47th Ave turn south to 31st at church on west side of street to past church and open space then left to 49th Ave which is first street. Note. All room dimensions, including square footage data, are approximate and must be verified by the buyer Additional features Type: Contemporary/Modern Design Features: Eat-in Kitchen, Cathedral/Vaulted Ceilings, Open Floor Plan, Walk-in Closet, Washer/Dryer Hookups, Wood Floors Basement Full Basement, Unfinished Basement Foundation: Location Description: Deciduous Trees, Abuts Private Open Space Inclusions: Window Coverings, Electric Range/Oven. Dishwasher, Microwave Common Amenities: Common Recreation/Park Area Fireplace: Gas Fireplace Outdoor Features: Lawn Sprinkler System, Balcony, Deck Diana Luthi Group Centerra http://www.iresis.com/cwa/link/listing?llid=vxtk8s&lid=893987 7/8/2011 . Listing Detail for 2218 69th Ave Page 1 of 2 Listing sent to: scott.hutt@agcocorp.comon May23, 2011 P. 218 69th Ave, Greeley, CO 80634 ©IREs 170 4,OOO. Residential-Detached IRES MLS # 600920 Sold Bedrooms: 3 Total SqFt: 2940 Baths: 2 (2F) Style: 1 Story/Ranch Garage Spaces: 2 Year Built: 2002 County: Weld Area: Greeley/Weld Subdivision: Drakes Crossing ` Description . - _ _ ___ Maintenance free living in Drake's Crossing. _ Beautifully maintained inside and out. Move-in ' i I I ready with neutral colors and quality features like - ili _ in ,i. hardwood and tile flooring, 5-piece master bath, all . brick construction. This is not your typical bank- _ " owned listing! I r. - - _ - .. .. General Features Square Feet Room Dimensions Listing Type: Residential-Detached Total: 2940 SqFt Master Bedroom: 14 x 15 (Main) Garage: Attached Finished: 1470 SqFt Bedroom 2: 11 x 11 (Main) Lot Size: 10567 Total Finished: 1470 SqFt Bedroom 3: 9 x 10 (Main) Acreage: 0.24 Main Level: 1470 SqFt Kitchen: 10 x 15 (Main) Zoning: RL Basement: 1470 SqFt Dining Room: 10 x 11 (Main) Legal Lot 23, Block 11 , Drakes Laundry Room: 9 x 8 (Main) Description: Crossing Construction Construction: Brick/Brick Veneer Taxes and Fees Cooling: Central Air Conditioning, Taxes/Tax Year: $1262 / 2008 Ceiling Fan HOA Fee/Freq: $140 / Monthly Heating: Forced Air Schools Driving Directions School District: Greeley 6 West on 20th Street to 68th Avenue. Go South to 22nd Street. Then right to 69th Avenue. Elementary: Monfort House is at the back of the cul-de-sac. Middle/Jr High: Brentwood High: Northridge Note: All room dimensions, including square footage data are approximate and must be verified by the buyer. Additional features Type: Contemporary/Modern Design Features: Separate Dining Room, Open Floor Plan, Pantry, Walk-in Closet, Fire Alarm. Washer/Dryer Hookups, Wood Floors Basement Unfinished Basement Foundation: Location Description: Cul-De-Sac Inclusions: Window Coverings. Electric Range/Oven, Dishwasher. Microwave. Jetted Bath Tub, Garage Door Opener, Smoke Alarm(s) Fireplace: Gas Fireplace Outdoor Features: Patio Diana Luthi Group Centerra 970-679-1552 Phone I - Fax 5401 Stone Creek Cir , Loveland, CO 80538 http://www.iresis.com/cwa/link/listing?llid=vxtk8s&lid=900857 7/8/2011 Listing Detail for 5117 W 17th St Page 1 of 1 Listing sent to: scott.hutt@agcocorp.comon May23, 2011 117 W 17th St, Greeley, CO $0634 ©wts - "I . 175,000 Residential-Detached ' IRES MLS # 602513 Sold --�- Bedrooms: 5 Total SqFt: 2584 — ,. Baths: 3 (2F, 1T) Style: 1 Story/Ranch —_____ — Garage Spaces: 2 Year Built: 2001 t-. County: Weld Area: Greeley/Weld . Subdivision: Country Club West t 1 I j Description This country ranch has it all! 90% full finished basement with wet bar and large great room, 5pc master bathroom — - ; ' with walk in closet, hardwood floors in the kitchen and _ - - • - : . y dining room, oak cabinets throughout w/ nice pantry, main floor laundry. daylight basement with large deck, mature - V1 A. 'Y ? ' • landscaping w/ full fence. and beautiful water feature out g `- back. Super clean and will go quick. Seller is related to ' ..ems "^ • . . Listing agent. Buyer to verify schools and measurements. • .ilk / Ai General Features Square Feet Room Dimensions Listing Type: Residential-Detached Total: 2584 SqFt Master Bedroom: 14 x 13 (Main) Garage: Attached Finished: 1292 SqFt Bedroom 2: 12 x 9 (Main) Acreage: 0. 14 Total Finished: 2584 SqFt Bedroom 3: 10 x 10 (Main) Zoning: R1 Main Level: 1292 SqFt Bedroom 4: 12 x 11 (Basement) Legal Description: Lot 6, Block 9. 4th filing Basement: 1292 SqFt Bedroom 5: 14 x 10 (Basement) Kitchen: 10 x 10 (Main) Taxes and Fees Construction Great Room: 22 x 25 (Basement) Taxes/Tax Year: $1089 / 2008 Construction: Wood/Frame. Brick/Brick Living Room: 14 x 16 (Main) Veneer Dining Room: 10 x 10 (Main) Schools Cooling: Evaporative Cooler, Ceiling Laundry Room: 6 x 6 (Main) Fan School District: Greeley 6 Heating: Forced Air Elementary: Monfort Middle/Jr High: Heath Driving Directions High: Greeley Central 59th ave east on 17th street north on 58th east on W. 17th Street to property Note: All room dimensions, including square footage data. are approximate and must be verified by the buyer. Additional features Type: Contemporary/Modem Design Features: Eat-in Kitchen. Separate Dining Room, Pantry, Walk-in Closet, Washer/Dryer Hookups, Wood Floors Basement Foundation: Full Basement, 90%+ Finished Basement, Daylight Basement Location Description: House/Lot Faces S Inclusions: Window Coverings. Electric Range/Oven, Dishwasher, Refrigerator, Bar Refrigerator Outdoor Features: Lawn Sprinkler System. Storage Buildings. Deck Diana Luthi Group Centerra • _ 970-679-1552 Phone I - Fax 5401 Stone Creek Cir , Loveland, CO 80538 dluthi@thegroupinc.com . 970-613-0700 Phone 1970-667-7955 Fax t http://www.lovelandrealestate.com http://www.lovelandrealestate.com THEGROUPINC. it Real Estate Listing Agent: Jennifer McGrath I Listing Office: Keller Williams-No. Cob, FTC MLS content and images © Copyright 1998-2011 , IRES LLC, All rights reserved. WARNING: This database record is provided subject to limited license rights. Duplication or reproduction is prohibited. http://www.iresis.com/cwa/link/listing?llid=vxtk8s&lid=902452 7/8/2011 Listing Detail for 2101 69 Ave Page 1 of 2 Listing sent to: scott.hutt@agcocorp.com on May23, 2011 101 69 An, 3rooloy, CO 80634 ©WES $157,000 Residential-Detached IRES MLS # 570679 Sold ' Bedrooms: 3 Total SqFt: 3508 Baths: 3 (3F) Style: 1 Story/Ranch Garage Spaces: 2 Year Built: 2001 I County: Weld Area: Greeley/Weld \ Subdivision: Drakes Crossing ,f - - __ Nsa Description 4,0 . Nice patio home with 3 bedrooms, 3 baths and 2 i car garage. Central air, deck, living room fireplace, INS huge kitchen, 5 piece master bath, basement is finished, all brick exterior.This property is eligible l for Express Path financing. Please call agent for details. As-is condition. Must have lender letter -a with all offers. Allow 3-5 business days for contract - WIN i _ acceptance. Y. -..- _ - . •.0.2-. <- . General Features Square Feet Room Dimensions Listing Type: Residential-Detached Total: 3508 SqFt Master Bedroom: 10 x 15 (Main) Garage: Attached Finished: 1754 SqFt Bedroom 2: 12 x 13 (Main) Acreage: 0.25 Total Finished: 3508 SqFt Bedroom 3: 15 x 16 (Basement) Zoning: Res Main Level: 1754 SqFt Kitchen: 12 x 21 (Main) Legal Gr Drcr L14 Blk7 Drakes Basement: 1754 SqFt Living Room: 11 x 16 (Main) Description: Crossing Dining Room: 11 x 16 (Main) Construction Laundry Room: 6 x 6 (Main) Taxes and Fees Construction: Brick/Brick Veneer Family Room: 22 x 27 (Basement) Taxes/Tax Year: $1565 / 2007 Cooling: Central Air Conditioning HOA Fee/Freq: $140 / Monthly Heating: Forced Air Schools Driving Directions School District: Greeley 6 20th Street to 68th Avenue, South on 68th Avenue to 22nd Street, West on 22nd Street to Elementary: Monfort 69th Avenue. Middle/Jr High: John Evans High: Greeley West Note. All room dimensions, including square footage data, are approximate and must be verified by the buyer Additional features Type: Patio Home Design Features: Eat-in Kitchen, Separate Dining Room, Cathedral/Vaulted Ceilings, Open Floor Plan, Pantry, Walk-in Closet Basement Foundation: Full Basement, 90%+ Finished Basement Location Description: Cul-De-Sac Inclusions: No Inclusions Fireplace: Gas Fireplace Outdoor Features: Lawn Sprinkler System. Deck, Oversized Garage Diana Luthi Group Centerra 970-679-1552 Phone I - Fax 5401 Stone Creek Cir , Loveland, CO 80538 dluthi@thegroupinc.com 970-613-0700 Phone 1970-667-7955 Fax http://www.lovelandrealestate.com ttp://www.lovelandrealestate.com hap://www.iresis.com/cwa/link/listing?llid=vxtk8s&lid=870517 7/8/2011 'Tae NO gr-22st-69av-n APPRAISAL OF r t : P; ' . •• •J �yA, 11 4f • LOCATED AT: 6911 W 22nd St GREELEY, CO 80634-7922 FOR: Wells Fargo Bank, N A - 036040 1777 S. HARRISON STREET SUITE 300 Denver, CO 80210 BORROWER: SCOTT HUTT AS OF: May 20, 2010 BY: David Tuttle File No.gr-22st-69av-n BONNIE HOLMBERG W:9703366242 Wells Fargo Bank,NA.-036040 1777 S.HARRISON STREET SUITE 300 Denver,CO 80210 File Number: gr-22st-69av-n In accordance with your request, I have appraised the real property at: 6911 W 22nd St GREELEY,CO 80634-7922 The purpose of this appraisal is to develop an opinion of the market value of the subject property,as improved. The property rights appraised are the fee simple interest in the site and improvements. In my opinion,the market value of the property as of May 20.2010 is'. '.. $177,000 One Hundred Seventy-Seven Thousand Dollars The attached report contains the description, analysis and supportive data for the conclusions, final opinion of value, descriptive photographs, limiting conditions and appropriate certifications. David Tuttle Uniform Residential Appraisal Report File No.gr-22st-69av-n The purpose of this summary appraisal report is to provide the lender/client with an accurate,and adequately supported,opinion of the market value of the subject property. Properly Address 6911 W 22nd St ON GREELEY State CO lip Code 8063.4-7922 Borrower SCOTT HUTT owner or Public Record Certificate Holders Citigroup Mort. County Weld _, Legal Description Lot 9 Block 7 Drakes Crossing AssessorsParceie R8201000 _ _ Tax Year 2009 _ --.__ R.E-Taxes S 1184.00 Neighborhood Name Drakes Crossin Map Reference Greeley T-3 Census Trait 0014.01 Occupant['Owner 0Tenant Vacant Special Assessments s 0.00 k PUD HOAS 150.00 [ Jperyear ®per month Property Rights Appraised ®Fee Simple Leasehold {�Other;describe) AssignmentType 23 Purchase Transaction Refinance Transaction Other(desabe) _ LerdedCaent Wells Fargo Bank,NA.-036040 Address 1777 S.HARRISON STREET SUITE 300,Denver CO 80210 is me NOW property carendy offered for sale or has a been°Hated la sale in the beelve months pia to the effective date of this..;'aisal? 4 Yes No Report data source(s)used,offering Ixice(s).and date(s). MLS DOM=49 and now under contract. Originally listed at$185,900. - I ill did U did not analyze the contract for sale for the subject purchase trarlsactron.Explain the results of the analysts of the contact for sale or why the analysis was not performed. The contract appears to be a typical REO transaction at arms-length Realtors are involved. __.. _- 1 r _ Comract Pace$170,000 Date of Contract 05-10 is ale property seller the owlet'ot a record? X Yes UNo Data Sourcels County Records z is there any financial assistance(ban charges.sale concessions,gilt or downpaymera assistance,etc.)to be paid by any party on behal of the borrower? Oyes ®No U if Yes.report the total dollar amount and deunbe me gems to be paid. n/a Note'Race and the racial composition of the neighborhood are not appraisal factors. NetghboeModClNnetarlades One-UnitHousNe Trends One-Unit rtauslig Peasant Land U e% Location era urban )Suburban w Rural _ Pro orty Values :Irncreasirg A,Stable Declining__ PRICE AGE _One-Unit 100%% Burk-Up rear Over 75% X 25.15% hn�h Under 25% j Deer !..5 Shortage 4 in Balance Over Supply 1(000) (yrs) 2-4 Unit 0%% Growth `Rapid X,Stable Slow I Marketing Time Under 3 mlhs ,-3-6 mths Over 6 mils 170 Low 2 MUi•FamOy 0%% ? Neighborhood Bomde ms Located north of Hwy 34,south of 20th St,between 83rd and 65th St in 300 High 15 commercial 0%% western Greeley. 225 Pied 7 Other % Neighborhood Descnplion This subdivision is in western Greeley.It is comprised primarily of average to very good quality conforming single family homes. Maintenance levels were noted to be good. Access to support services is average and to the east. �. Market Conditions(including support for the above conclusions) Overall, market conditions are relatively good for Northern Colorado. Most properly , priced properties sell in under 6 months. Conventional financing is predominate with typical seller concessions noted. Supply and demand appear to be in balance with no excessive number of listings noted. Dimensions See comments. Area 6970 SF Shape Rectangular - view Average specitrc Zoning Classification R-L zoning Description Residential-Low DensityZoning Compliance Compliance Legaal I ]Legal Nonconforming(Grandtatherec Use). ❑No Zormtg [J Illegal)describe) -...-- Is the highest and best use of the subject property as improved(or as proposed per plans and specdicamns)the present use? U Yes U No It No.describe. Udlldas Public Other(describe) Public Ocher(describe) OH•slteimprovements—Type ?vaticvats Eleddnty (W( working _ ware, .�.._. �, working Street Asphalt .. . wo - Gas ()J ~ working _ Sanitary Sewer X stay None _ ,_,- FEMASpecialFloodHazardArea 1 Yes_[)No FEMA Flood Zorn�etC FEMA Map a 0802580616C FEMAMap Date 09/28/1982 Are the tagiles and Off-site improvements typical for the market area? ter)Yes n No d No,desoik*. -. .. Are there any adverse see corddiors or external fades(easements.encroachments,environmental coodibons,land uses,etc.)? U yes X❑No If Yes.describe. _ ., GENERAL DESCRIPTION FOUNDATION EXTERIOR DESCRIPTION materials/conditionINTERIOR matedalslccedpion Units Lione Li One wIm Accessory Unit rr Conctele Slab ,jjCrawl Space Foundation Walls conc/avg_ Roos CpVHW/gd It of shies One A,Full Basement Partial Basement_Exterror Walls Vin ry Sdg/gd wants DW-gd T r�- Det. At. _f'T�,S-DellEnd urhp Basement Area 1521 stilt Roof Surface Comp Stlgl/gd - Trim/Finish Wood/gd Existing []Proposed LJUndercarst. Basement Finish 85 % Gutters&Downspxtsmetal/avp Bath Floor Vinyl/gd Design(Style)Ranch _ _ —[_,tntshde Enl a ❑Sump Pump Window Type Vnl/avg Bath Wainscot rFGlpd sear Butt 2002 __ Ewdence of Inlestaton storm Sasttlnsulated yes/avg-�carr storage I )None elective Age(Ys)5 - TI D 1 Settlement screens yes/avg lx)Driveway /a Cars 2 Attic None HeatirggFFWA, HWBB I U Radiant Amenities Wood&r s 4 Drivewa Surface Concrete _ D•.stair Stairs ❑Other Fuel Gas_ • c s e 1 Fence _ Garage Garage - a of Cars 2 _ [�Flo --_ -- X SctRle Central At Candit ) Patio/Deck COV Porch COv )Carpot rtot Cars Finished Healed Individual Otner Pool Other Xi Alt l luet. Buih•in ri r�T t�T Appkande5 l 1Refrigerabr In�RarlgelOvert X DhstHisshat X Disposal Intl Miaaweve ;washerlDryer Other(describe) h Finished area above5ade contains: 5 Rooms 2 Bedrooms 2 Bath(s) 1,543 Square feet of GrassLaos;Area Above Grade Additional features(special energy efficient items,etc). The subject has the standard energy efficient items for the area. Describe me condttnn of the property(including needed repairs,dereriora6on,renovations,remodeling.eta). Subject is in good condition—Features include but not limited to:coy patio,hardwood floors,vinyl siding,fin bsmnt w/bathrm,and a 2car garage. No functional or external depreciation. Are there any physical deficiencies or adverse conditions that stied tire FWellbey.soundness,or structural isegrity of me property' Eves O No If Yes.describe. Does the property generally conform to the neighborhood(funclexfal utility,style,condition.use,construction,etc.)? ❑X Yes TTNT II Nu,describe. Fraaae ism Rem to Mater 70th PraauV an;0C,"tn..axl.-5auritwwe,cwn an Pone Mae ram 100 Mirth 1005 Pqe let Mes_CS-AM 9 Uniform Residential Appraisal Report File No.gr-22s1-69av-n There are 5 comparable properties currently offered for sale in the subject neighborhood ranging in trite Irom S 173,500 to$ 244,900 There are 9 comparable sales in the subject neighborhood within the past twelve months ran•ing in sale price from$ 170,000 to S 249,900 - FEATURE SUBJECT COMPARABLE SALE NO.1 COMPARABLE SALE NO.2 COMPARABLE SALE NO.3 6911 W 22nd St 6715 W 23rd St 2218 69th Ave 2001 81st Ave Address GREELEY _-- Proximity lo subject -_ 0.06 miles SSW 0.06 miles SW 0,86 miles WNW 1 Sale Price $ 170,000 $ 210,000 5 170,000 S 190,000 sale Price/Gitss Lw Al ea I S 110.17 sq.fl. S 129.15 sq.lt. 5 115.65 sq.It I __ S 104.68 sq.It. Data SoJrce(s) Inspection IRES MLS/Agent IRES MLS/Agent IRES MLS/Agent Verification Seurce(s) DOM=14 DOM=15 DOM=109 VALUE ADJUSTMENTS DESCRIPTION I DESCRIPTION f(-t s Assn. DESCRIPTION_. . -. rid seelLmos DESCRIPTION gi)sepm;sem Sale or Financing Cony. I FHA Cash FHA Concessions none I none none none Date 01 Sale/time 05-2010 09-11-2009 06-30-2009 '12-14-2009 Location Suburban Suburban Suburban 'Suburban Leasehold/Fee Simple Fee _ Fee I Fee Fee {Sire 6970 SF 12,632 SF -5,000110,567 SF -3,000 7286 SF view Average _. ,Average Average Averse Design(Style) Ranch Ranch _ Ranch Ranch Quality of Constmaion Good Good Good Good Actual Age 8 10 a 3 condition Good Good Good Good Above Grade Tad edit eats reel s ears Told,mitre Bath Taal eo Baths turn_ _ Room couch 5 2 6 3 2 61 3 2 5 2 2 Gross LMng Area 20 1,543 sq.II _ 1,626 sµ u_ 1,470 sq.It 1,815 sq.IL -5,500 Basement&Finished 1521 SF 1626 SF 1470 SF 1807 SF Rooms Below Grade Fin w/Bath Unfin. +7,000 Unfm. +8,000 Fin w/Bath -4,000 Functional uuliry Average Average Average Average HealIng/Cooling FAU/Central FAU/Central FAU/Central FAU/Central Energy Efficient Items Std. j Std. _ Std. Std. Ga age/carpon 2 Car Garage 13 Att.Garage -5,000 2 Car Garage 2 Car Garage Porch/Patio/Deck Coy Patio 1 Patio,Gazebo Patio +2,000 Patio +2,000 1 FP 1 F P I 1FP 2FP -2.000 Upgrades }Very Superior j 15,000 Upgrades _ ,Upgrades Netaeltin ert(Toaq j la jxt s iepoo l�• a ..s 7,000❑. $ , 9500 Adjusted Sale Price I Net Adj. -8.6°Me Net AS 4.1%% Net Atlj. -5.0 Sir of Comparabffle�ss j Gross Ad].15 2Ww $ 192,000 j Goss Adj.7.6%% $ 177,000 Gross Ad1.7.1%% $ 180,500 I IJ Erna did nor research the sale or transfer history of the subject properly and comparable sales.It not,explain My research Laid lxididnel reveal any prior sales or transfers o'the subject property for the three years prior to the effective dare of this appraisal_ Data source(s) Coun /MLS My research UMX did net reveal any prior safes on transfers or the comparable sales for the year prior to the dare of sale of the comparable sale. _ Data source(s) MLS wort the results of the research and analysis of the prior sale or transfer history of the sutiect r er and comparable sales(report additional prior sales on page 3). ITEM SUBJECT COMPARABLE SALE NO.1 COMPARABLE SALE NO.2 I COMPARABLE SALE NO.3 Date of Prior salerrransfet none 3 ears none 1 r from sale none 1 yr from sale j none ljr from sale _ Price of prier Sale/Transfer Data Source(s) County/MLS MLS_ MLS MLS Effective Dale of Data Source(si current current l current current Analysis of prior sale or transfer history of the subject property and comparable sales n/a Summary of Sales Comparison Approach. This opinion of value is within the adjusted range of the best,' most recent"comparables that sold during the past year. No adjustment was made for GLA differences less than 100 SF. The typical buyer cannot perceive this difference among comparable properties. Comp 2 was lender-owned. The lower end of the range was emphasized Indicated Value by Sales Comparison ApMach S 177,000 Indicated value by: sales Comparison Approach 3177,000 Cost Approach llmevempeals 213,500 Income Approach(Ifdeveroped)s Sales Comparison Approach is given most weight as it best represents the buying and selling behavior of the market. The Cost Approach is given less weight due to lack of vacant land sales to determine an accurate land value. The Income Approach is not applicable in owner-occupied areas._ This appraisal is made U'as is, Lisubjecr to completion per plans and specifications on the bass of a hypothetical condition that the improvements have been completed, Li subject lo the lollovnng repairs or alterations on the basis of a hypohetical condition than the repairs or alterations have been completed,or Li subject lo the follovaog required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair No conditions. 'All utilities have been turned on and are functional. Based on a complete vrsuar inspection of the interior and exterior areas of me soared property,defined scope oe wore,ahooMane 0r assu motions and umumg condition a,and appraiser's certification,my(our)opinion of the market value.as defined.of the real properly that Is me subject of this report Is a 177,000 asof 05/20/2010 ,which is the dare onnapecdon anameefiechve dare of this appraisal. amide Mac Fos 50 Nadi M5 pmlied'5-eOZi'Wan'aa2cWEr wmuvnnom Fame Mee Fen ln)a�sticeeffe9 Rels Valuation • Uniform Residential Appraisal Report Fie No gr-22st-69av-n Clarification of Intended Use and Intended User. The Intended User of this appraisal report is the Lender/Client.The Intended Use is to evaluate the property that is the subject of this appraisal for a mortgage finance transaction,subject to the stated Scope of Work,purpose of the appraisal,reporting requirements of this appraisal report form,and Definition of Market Value.No additional Intended Users are identified by the appraiser_ No survey available. In the normal course of business the appraiser andpeers are not able to access dimensions of the site. There is no online service for this. The appraiser will note if the frontage seems abnormal for the area.The appraiser and his peers cannot travel to the County Courthouse for every appraisal. Please note that any physical measurement is by nature an approximation_ This is particularly true in home measurement due to differing measuring techniques,rounding.interfering shubbery.non-square walls,upper levels that do not follow the main level outline, etc. The figures provided herein are for comparative and descriptive purposes orly and are not intended as a verification of exact size. The appraiser is NOT a home inspector The appraiser observes but does not perform inspections. This is the job of a home inspector. COST APPROACH TO VALUE(not required by Fannie Mae) Provide adequate information for the lender/eked to replicate toe below cost figures and calculations. Supponmt!he opinion of site value(summary of comparable land sales or other methods for esumaeng site value) There are insufficient vacant land sales in this area _ to determine a site value for the subject. Typically the extraction method is used to estimate the site value. This is based on sales in the market area and relies on the more accurate reproduction cost figures based on the Marshall 8 Swift Residential Cost Handbook. ESTIMATED_ REPRODUCTION on ThrZPLACEMENtCOST NEW OPINION OF SITE VAU° _$ 25,000 Source of cosi data _ _ Dwelbn 1,543 Sq.Ft @ s 90.00... _=S _ 138,870 pualiy rating from cod service Effective dateol cost data -q _ 21__. __ SgR@S 25.00 =E 38.025 Comments an CostA pprvacM1(gmrslVngarea wlculatoreseprec t e ZCostfigures era based on Marshall8 Swdt Resitlential Cost ra elcarport 44Eq Rl @E 20.00 _ =E 9,680 Handk. and o value talatact�de tch difon isLest miatetl lh oatih is typical See yq Estimate al cost-Newl -=s 186,575 attached sketch diagram. Less 70 Physical Fund onel External Physical p ythe effective- _;_Ds eaauon $13060 $0 $0 -E( 13,060) age/remaining economic life method. joepteciatetl Cosiol';mpiwements -E 173,515 "Asas"value of Site Improvements =S 15,000 Estimated Remaining Economic Life MUD ans VA only) 65 Years INDICATED VALUE BY COST APPROACH e5 213,500 INCOME APPROACH TO VALUE(not required by Fannie Mae) Estimated Monthly Markel Rent S X Gross Rent Multiplier N/A =$ N/A indicated Value y Income Approach Summary of Income Approach mdudiog support for market ran;and GRM) PROJECT INFORMATON FOR PUDE if applicable) IS the tleV2aperNwltlenn control of tee Homeowners'Association(HOA)P ,VPs X No UM ype(s) X Detached Anecneo Provide the Imlanng information for Pups ONLY A the developerlbmider is in control of the HOA and the subject properly o an attached dwefing ant Legal name of project Thal number of phases Total number of ants Total number of units sold Total timber of ants meted Total number Si units for sale Data seu¢ej) Was the project created by the conversion of an exishn buildin s into a BUD, Yes No II Yes.date of conversion. Does the protect contain aamultdwellin u t Yes No Data sources -- Are the ueite.common elements,and recreation facilities CUmplete? M Yes No If No describe the status of completion Are the common eleme sleasetl to or by the HbmePwners'Assam!lone UYes ONo If Yes,describe the rental terms and options. Descr be common elements and recrea0onel'ac04es. Heck*Mee ram la Mane tOA rw.H,ant - u...xr<: rr�y.�,.a„v.vm. fame Mae ram 154 MVP 2005 aoieosip ;cod Uniform Residential Appraisal Report File No. gr-22st-69av-n This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit;including a unit in a planned unit development(PUD). This report form is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project. This appraisal report is subject to the following scope of work,intended use,intended user,definition of market value,statement of assumptions and limiting conditions,and certifications. Modifications,additions,or deletions to the intended use,intended user, definition of market value,or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However,additional certifications that do not constitute material alterations to this appraisal report,such as those required by law or those related to the appraiser's continuing education or membership in an appraisal organization,are permitted. SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal report form,including the following definition of market value,statement of assumptions and limiting conditions,and certifications. The appraiser must,at a minimum:(1)perform a complete visual inspection of the interior and exterior areas of the subject property,(2)inspect the neighborhood,(3)inspect each of the comparable sales from at least the street,(4)research,verify,and analyze data from reliable public and/or private sources,and(5)report his or her analysis, opinions.and conclusions in this appraisal report. INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of this appraisal for a mortgage finance transaction. INTENDED USER: The intended user of this appraisal report is the lender/client. DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale,the buyer and seller,each acting prudently,knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby.(1)buyer and seller are typically motivated;(2)both parties are well informed or well advised,and each acting in what he or she considers his or her own best interest;(3)a reasonable time is allowed for exposure in the open market;(4)payment is made in terms of cash in U.S.dollars or in terms of financial arrangements comparable thereto;and(5)the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions*granted by anyone associated with the sale. 'Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area;these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the following assumptions and limiting conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it,except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opinions about the title. 2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements. The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency(or other data sources)and has noted in this appraisal report whether any portion of the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor,he or she makes no guarantees,express or implied,regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand,or as otherwise required by law. 5. The appraiser has noted in this appraisal report any adverse conditions(such as needed repairs,deterioration,the presence of hazardous wastes,toxic substances,etc.)observed during the inspection of the subject property or that he or she became aware of during the research involved in performing this appraisal. Unless otherwise stated in this appraisal report,the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property(such as,but not limited to, needed repairs,deterioration,the presence of hazardous wastes,toxic substances,adverse environmental conditions,etc.)that would make the property less valuable,and has assumed that there are no such conditions and makes no guarantees or warranties,express or implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards,this appraisal report must not be considered as an environmental assessment of the property. 6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion,repairs,or alterations on the assumption that the completion,repairs,or alterations of the subject property will be performed in a professional manner. Fells Mx{am 701WN 2005 nnWmd,nne Ac altwar. 234 enr wm,amenmm rani,Ms con,014 MatchMh Par nal 6 w4_o Uniform Residential Appraisal Report rile No gr-22st-69av-n APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that. 1. I have,at a minimum,developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report. 2 I performed a complete visual inspection of the interior and exterior areas of the subject property.I reported the condition of the improvements in factual,specific terms.I identified and reported the physical deficiencies that could affect the livability, soundness,or structural integrity of the property. 3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 4. I developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop them,unless otherwise indicated in this report. 5 I researched,verified,analyzed and reported on any current agreement for sale for the subject property,any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal,and the prior sates of the subject property for a minimum of three years prior to the effective date of this appraisal,unless otherwise indicated in this report. 6 I researched,verified,analyzed,and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale,unless otherwise indicated in this report. 7. I selected and used comparable sales that are locationally,physically,and functionally the most similar to the subject property. 8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home that has been built or will be built on the land. 9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales. 10. I verified,from a disinterested source,all information in this report that was provided by parties who have a financial interest in the sale or financing of the subject property. 11 I have knowledge and experience in appraising this type of property in this market area. 12 I am aware of,and have access to,the necessary and appropriate public and private data sources,such as multiple listing services,tax assessment records,public land records and other such data sources for the area in which the property is located. 13. I obtained the information,estimates,and opinions furnished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct. 14 I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood,subject property,and the proximity of the subject property to adverse influences in the development of my opinion of market value. I have noted in this appraisal report any adverse conditions(such as,but not limited to,needed repairs,deterioration,the presence of hazardous wastes,toxic substances,adverse environmental conditions,etc.)observed during the inspection of the subject property or that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in my analysis of the property value,and have reported on the effect of the conditions on the value and marketability of the subject Property. 15. I have not knowingly withheld any significant information from this appraisal report and,to the best of my knowledge,all statements and information in this appraisal report are true and correct. 16 I stated in this appraisal report my own personal,unbiased,and professional analysis,opinions,and conclusions,which are subject only to the assumptions and limiting conditions in this appraisal report. 17. I have no present or prospective interest in the property that is the subject of this report.and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base,either partially or completely,my analysis and/or opinion of market value in this appraisal report on the race,color,religion.sex,age,marital status,handicap, familial status,or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law. 18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned on any agreement or understanding,written or otherwise,that I would report(or present analysis supporting)a predetermined specific value,a predetermined minimum value,a range or direction in value,a value that favors the cause of any party,or the attainment of a specific result or occurrence of a specific subsequent event(such as approval of a pending mortgage loan application). 19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the preparation of this appraisal report,I have named such individual(s)and disclosed the specific tasks performed in this appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in this appraisal report,therefore,any change made to this appraisal is unauthorized and I will take no responsibility for it. 20 I identified the lender/client in this appraisal report who is the individual,organization,or agent for the organization that ordered and will receive this appraisal report. [made ac ion to March 11O5 hcawe om nc man am em xw«aw.ee mn Panne Mae raml Me[ Page 5 sir 'X64_05 CP9C909 Uniform Residential Appraisal Report File No. gr-22s1-69av-n 21. The lender/client may disclose or distribute this appraisal report to.the borrower;another lender at the request of the borrower; the mortgagee or its successors and assigns;mortgage insurers;government sponsored enterprises;other secondary market participants,data collection or reporting services;professional appraisal organizations;any department,agency,or instrumentality of the United States;and any state,the District of Columbia,or other jurisdictions,without having to obtain the appraiser's or supervisory appraiser's(if applicable)consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party(including,but not limited to,the public through advertising,public relations,news,sales,or other media). 22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain laws and regulations. Further,I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me. 23. The borrower,another lender at the request of the borrower,the mortgagee or its successors and assigns,mortgage insurers, government sponsored enterprises,and other secondary market participants may rely on this appraisal report as part of any mortgage finance transaction that involves any one or more of these parties. 24. If this appraisal report was transmitted as an"electronic record"containing my"electronic signature,"as those terms are defined in applicable federal and/or state laws(excluding audio and video recordings),or a facsimile transmission of this appraisal report containing a copy or representation of my signature,the appraisal report shall be as effective,enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. 25 Any intentional or negligent misrepresentation(s)contained in this appraisal report may result in civil liability and/or criminal penalties including,but not limited to,fine or imprisonment or both under the provisions of Title 18,United States Code,Section 1001,et seq.,or similar state laws. SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that. 1. I directly supervised the appraiser for this appraisal assignment,have read the appraisal report,and agree with the appraiser's analysis,opinions,statements,conclusions,and the appraiser's certification. • 2. I accept full responsibility for the contents of this appraisal report including,but not limited to,the appraiser's analysis, opinions,statements,conclusions,and the appraiser's certification. 3 The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser(or the appraisal firm),is qualified to perform this appraisal,and is acceptable to perform this appraisal under the applicable state law. 4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 5. If this appraisal report was transmitted as an"electronic record"containing my"electronic signature,"as those terms are defined in applicable federal and/or state laws(excluding audio and video recordings),or a facsimile transmission of this appraisal report containing a copy or representation of my signature,the appraisal report shall be as effective,enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. APPRAISER SUPERVISORY APPRAISER(ONLY IF REQUIRED) Signature Se yhYrr Signature Name David Tuttle Name Company Name Rels Valuation Company Name Company Address 1445 Wakerobin Court Company Address For Collins,CO 80526 Telephone Number Telephone Number Email Address Email Address Date of Signature and Report 05/22/2010 Date of Signature Effective Date of Appraisal 05/20/2010 State Certification ft State Certification ft or State License# or State License# AL01324456 State or Other(describe) State# _ Expiration Date of Certification or License State CO Expiration Date of Certification or License 12-31-2011 ADDRESS OF PROPERTY APPRAISED SUBJECT PROPERTY 6911 W 22nd St ❑Did not inspect subject property GREELEV.CO 80634-7922 5 Did inspect exterior of subject property from street Date of Inspection APPRAISED VALUE OF SUBJECT PROPERTY 6 177,000 El Did inspect interior and exterior of subject property Date of Inspection LENDER/CLIENT Name BONNIE HOLMBERG W.9703366242 COMPARABLE SALES Company Name Wells Fargo Bank,N.A.-036040 ❑Did not inspect exterior of comparable sales from street Company Address 1777S.HARRISON STREET SUITE 300 L)Did inspect exterior of comparable sales from street Denver,CO 80210 Date of Inspection Email Address FNAe Ma Form 70 Mace 3005 Pr"'"°°.•,,e man-� wow Mao rvml 0050 2005 �Pye 6d 6xie I004_05 Rels Valuation Uniform Residential Appraisal Report File No.gr-2281-69av-n cEATURE 1 SUBJECT COMPARABLE SALE NO.4 COMPARABLE SALE NO.5 COMPARABLE SALE NO.6 6911 W 22nd St 2205 70th Ave 2033 68th Ave^— Address GREELEY Protumay to Sterol 0.06 miles SW 0.18 miles NNE Sale Price s 170,000 s 200,000 S 239,000 S Sale Prc&Gro s Lw.Area 5 110.17 att. S 122.93 sq.ft. 6 162.25 ass _ sq.h. _ _— DataSourcetsZ___,_InBpeotion IRES MLS/Apent _ IRES MLS/Agent , _ verliralion Source(s) DOM=75 ,DOM=23 _ Ns VALUE ADJUSTMENTS DESCRIPTION DESCRIPTrON - erbea°.e _ DESCRJPT1ON +t•taagwwe DESCRIPTION 4)swllervi Sate or Financing Cony. PENDING LISTING Concessions none sp/Ip$off -5,000 spllp 5 off — -7,500 _ — Date of salernme 05-2010 current current -- Lxarron Suburban I Suburban Suburban _00_00 LeaseholdlFee Simple Fee f Fee r Fee Site 6970 SF _ 19148 SF -2,000 7405 SF view _ Average IAverape 000.0 ... Average — _ -- Design(style) Ranch IRanch Ranch e uawy_d CoKtructron Good Good ,Good + — Actuai Age 6 --. 8 - 8 Condniat _ Good. .Good S Good I _ �_... �._ Above Grade tar err. loll bistro err 1w,e�Yn. err. raa OohsRoan Count 5 .2 24. 6L 3 2 _6.L 3 2 _ Gross Uv gArea 20 1,5.4_3 sq.It • 1,627 sy A. 1.473 sq R __,_. sq ft —_i Basement&Finished 1521 SF 1827 SF 11457 SF Roans Below Grade Fin w/Bath Fin w/BthMlet6 I -2,500'Fin w/Bath_ Functional IMO _ Average Average. .. _.... �._-._ Average_ N . FAU/Central FAUJCentral FAU/Central y^ Ene,. Ehhcientllens Std. Std. Std. Garage/Carport 2 Car Garage 2 Car Garage _3 Car Oversize -7,500 Poicti/PariolDeck Coy Patio Patio +2.000 Coy Patio -, 1FP 1FP 1FP 1Uparades - Superior __ 5.000 I Superior -5.000 'NelAtllusrmen �• U (Total) � . - f 12,500 X - s 20,0001 'f_ 0 • A4usted Safe Price — Net Ara. -6.3906 NeI Am. -8.4°kA6 i %Net Adj. 0.0%%; .�.- of Comparables GrossAdy 8.3%96_f 187.500 GresAg.8.4%16;f 219,000,Grossiwi.0.0%%1 S 0 a ITEM SUBJECT _ COMPARABLE SALE NO.4 COMPARABLE SALE NO.5 COMPARABLE SALE NO.B w Date ol Prior Sale/Transfer none 3 years _2200 none 1 year from listing -none 1 year from listing Price ce Prior Sale/'ranster I Dare Source(s) County/MLS MLS MLS --— --- ° Eltecmve Date at Data Sourcetsl current current ,current I Summary of Sales Comparison Approach J a —--. ..— _0000 ._ _-.• ____---... V7 Hose ma Fe.to ISOM 7D7a me°s:Ns ,C f+'noe.KoasSOr....roc. Rose We Am r001 Welt 7006 • ISOr OSOYLOZ ADDENDUM File No, gr-22staav-n Legal Description Lot 8 BIk 15 Promontory Residential 1st Fg There is a discrepancy in the County Records. "Owner's Name"(Snyder)has 1230 103 ave but"Property Address"on the same page has 1203 103 ave. In the Realist MLS County Records it has two different owners for 1230 103ave. The one which lists Jason Snyder as the owner was used and has a distinct Acct# R0990901. Please check with Title Company for further clarification. Neighborhood Market Conditions Addendum Page 1 of 1 Market Conditions Addendum to the Appraisal Report File No.gr-225t-69av-n The purpose of this addendum is to provide to leeder/ohent with a clear and accurate'understanding of the market trends and condilmns prevalent in the subject neighborhood This is required addendum for all appraisal reports with an effective dale on or after ARIL 2009 Properly Address 6911 W 22nd St _ Ca GREELEY Stale CO Zip 80634-7922 Borrower SCOTT HUTT Instructions: The appraiser roust use the information required on this form as the basis for his/her conclusions,and must provide support ton rose conclusions.regarding housing trends and overall marxel conditions as reported in the Neighborhood section of ihe appraisal report term.The appraiser must fill in al.the information to the extent s i5 available and reliable any must provide analysts as indicated below.If any required data is unavailable or is considered unreliable,the appraiser must provide an explanation.II is recognized that not all data sources will be able to provide data Ids the shaded areas below,it it is available,however,:be appraiser must include the data in the analysts.If data sources provele the required information a5 an average instead of the median,the appraiser should report the available figure and itlenihy a as an average.Sales and(slings must be propedies that competewih the sugecl propery,determined by applying ihe criteria that would be used by a prospscpve buyer of the subject properly.The appraiser must explain any anomalies in the data such as seasonal markets new construction,foreclosures etc. inventory Analysis Prior 7-12 Months Prior 4-5 Months Current-3 Months Overall Trend Tolalpol Comparable Sales(Settled) 7 2 0 4 Increasing 1(X Suede Declining Absorption Rate(Total Sales/Months) 117 0.67 0.00 increasing IIIrX Stable Declining Total x of Comparable Active Listings 9 3 5 Decbning X Stable Increasing Months of Housing Supply(Total Listings/Ab.Rate) 7.69 4.48 n/a Declining X Slade ( Increasing Mellen sale 6Llat Price,DOM,aaleNst% Prior 7-12 months Prior 4-6months Current-3 months Overall Trend Median Comparable Sale Price 215,500 245,000 n/a Increasing X Stable Declining Median Comparable Sales Days or Market 35 42 n/a 4 Declining X Stable Increasing Median Comparable List Price 224,900 244,900 200,000 Increasb Median Comparable Listings Days on Markel 0 0 0 •Declining X Stable Declining X Stable Increasing Median Sale Price as%of List Price 100.00% 98.20% n/a Increasing XLStaMe Declining Seller{developer,builder.etc.)paitl financial assistance prevalent? i )yes (X No Declining Xi Slade Increasing Explain in detail the seller concessions beaus for the past 12 months(e.g,seller contributions increased from 3%l0 5%.Increasng use of buyddwns.ctosing costs,condo fees,options.etc.). The concessions are not greatly affecting the sales prices as they are negotiated during the contract process and are not advertised ahead of time when the offer is made.This trend has remained stable and no sharp increase has been noted. �,i Are foreclosure sales(RED sales)aladone the market' L Yes IJ No If yes.axplmn(including the trends in llsungsaotl sales of foreclosed properties). Foreclosure sales are not a major factor in this market. There are some throughout the area but thy have not appeared to have driven down values. Cite data sources tor anwelnforeatae. MLS _. Summarize the above information as support for your conclusions in roe Neighborhood section of the appraisal report form.If you used any additional information,such as an analysis of pending sales and/or expired and withdrawn listings.to formulate your conclusions.provide both an explanation and support for your conclusions_ Information for any sections listed as n/a is not yet available on our local MLS. There is no hard data to indicate declining values in this market area. -- - -- M the subject Is&unit in a condominium or cooperative project,complete the following: Project Name: Subject Protect Data Prer 7-12 Months Print l5 Months Current-3 Months Overall Trend Total a of Comparable Sales(Settled) Increasing J Stable Declining Absorption Rate(Total Sale9Monlhs) Increasing Stable r Declining Tola'A of Active Comparable Listings Destining Stable r. Increasing Months of Unit Supply(Total Listings/AU.Rate) Declining Stable Increasng Are foreclosure saes(RED sales)a tatter in the projects i`i Yes UNo Il yes.indicate the number of WO listings and explain the'rends in lbimgs and sales of foreclosed properties. te Summarrzelhe above rends and address the mpeaoc the subleelunit and protect. APPRAISER SUPERVISORY APPRAISER(ONLY IF REQUIRED) Signature L _"L/ _ - Signature_ Name David Tuttle Name Company Name Rels Valuation Company Name Company Address 1445 Wakerobin_Court Company Address 1422_ 22nd. _._ For Collins,CO 80526 State License/Certification kAL01324456 State CO State License/Certification if _ State _ Email Address 2222 Email Address Freddie Ms ram II Mach AA uweuv.,,Ar,,,,,.,kr,2xr n iui vino„,c„, eaime Wepony thaw Mach Of03 pap tort ttwvc]rd-. • DIMENSION LIST ADDENDUM Borrower SCOTT MUTT File No.: gr-22st-69av-n Property Address:6911 W 22nd St Case No. City. GREELEY _ _ State:CO Zip:80634-7922 Lender:Wells FaroBank,N . -036040 — --- -- GROSS BUILDING AREA(GBA) 1,543 GROSS LIVING AREA(GLA) 1,543 heats) Area %al GLA %ul GBA Living 1,543 i 100.00 Levels _ 1,543 100.00 100.00 Level 2 _ 0 _0 O0 0.00 Level 3 0 0.00 _ 0.00 Other 0 0.00 0.00 GBA Basemen' 1 J _ 0 Garage I1 484 ' — LL Area Measurements Area Type Measurements Factor Total Level 1 Level 2 Level 3 Other Bsmt. Garage 5.00 „ 2,00 „ _1 00 _ 10.00 [k L) Li L; ❑ _1a oo „ 10.00 % 100 = 140.00 U ❑ ❑ O ❑ ❑ __6.00 % 2.00 a _1 00 = 12.00 ' ❑ ❑ ❑ ❑ ❑ 2.00 „ 2.00 „ 0.50 = _ 2.00 O L ❑ ❑ ❑ ❑ 2.00 „ 2 0.0 % _0 5.0 = 209 ) E,' ❑ ❑ ❑ ❑ ❑ 1400 a 6 00 e 1 00 = 84 00 C L; ❑ ❑ ❑ ❑ _14.00 „ _ 4.00 „ 1,00 = _ 56.00 O O ❑ ❑ L; ❑ 20.00 a 18.00 „ 1.00 v 360.00 O ❑ ❑ ❑ ❑ ❑ 30 00 % 14 00 % 1.00 = 420.00 D ❑ ❑ Diu ❑ 22 00 „ __ 5.00 „ 1.00 = 110 00 J '] L i [l 17 ❑ _17 00 x 15.00 a 1.00 = 255 00 ❑O ❑ ❑ ❑ C ❑ __ 23.00 „ 4_,00 „ 100 v 92.00 C LT, ❑ PI .0 ❑ 22.00 „ 22.00 a 1,00 = 484.00 ❑ L; L-] ❑ ❑ ❑x % ❑ ❑ ❑ ❑ O ❑ % — _ % = ❑ El„ _ „ -_ u U U O O O „ „ = LJ O ❑ ❑ „ % _ — _ Li CT ❑ ❑ n ❑ „ x = o U o LI , o 0 a % „ a 0 o LI „ „ _ . _ , ❑ H ❑ ❑ ❑ o ❑ ❑ ❑ ❑ ❑ ❑ , „ a - a - o n o L Li o - ❑ ❑ o o 0 ❑ ❑ ❑ ,L L ❑ ❑ „ „ 0 U Ci O n 0 a _. — „ --- _ ❑ ❑ i7 ❑ Li ❑ % % LI o D LI a D C O L❑1 O O D „ _ „ -_ ❑ LJ 0000 X ❑ LL 0 ❑ 0, ❑ % _ a _ LU c o 0 0 x ❑ Li ❑ L I ❑! ❑ 10 ❑ L I LI ❑ 4mu.io-s ami.._i.1NB.xmv...nrosm DV C[Ratal SUBJECT PROPERTY PHOTO ADDENDUM Borrower: SCOTT HUTT _ _ _ File No.: gr-22st-69av-n _ Property Address:6911 W 22nd St _- Case No.: City: GREELEY - State: CO Zip: 80634-7922 - Lender: Wells Fargo Bank, N.A. 036040 is FRONT VIEW OF !i : : ' fi. s SUBJECT PROPERTY l .4 Appraised Date: May 20, 2010 . - Appraised Value: $ 177,000 -- -- b � 2 y •t Tom . eiii- Ilr ti ill F - "e ..C.: .-<•\\* REAR VIEW OF SUBJECT PROPERTY a �... Y o_ %....„.......r..../co J� I j' .. , P- .E t . ll f ' i I. r STREET SCENE ', " -" - s • COMPARABLE PROPERTY PHOTO ADDENDUM Borrower: SCOTT HUTT _ File No.: gr-22st-69av-n Property Address: 6911 W 22nd St _ Case No.: City: GREELEY - State: CO Zip: 80634-7922 Lender: Wells Fargo Bank, N.A. - 036040 COMPARABLE SALE #1 6715 W 23rd St Sale Date: 09-11-2009 Sale Price: $ 210,000 4. COMPARABLE SALE 112 2218 69th Ave Sale Date: 06-30-2009 Sale Price: $ 170,000 ;Y l • • i { i • ty -�ir6't• - )v - • - �.� - - fir. COMPARABLE SALE 113 2001 81st Ave Sale Date: 12-14-2009 Sale Price: $ 190,000 • `' .o• SIRS • • . ..-- - _ __ _ S•rK •• .. . .. - ..�..�- I • • _ f COMPARABLE PROPERTY PHOTO ADDENDUM Borrower: SCOTT HUTT File No.: gr-22st-69av-n _ Property Address: 6911 W 22nd St Case No.: City: GREELEY State: C O Zip: 80634-7922 Lender: Wells Fargo Bank, N.A. - 036040 'CI I I NB-•LJ COMPARABLE SALE #4 • 2205 70th Ave 4est . t: +.; - - Sale Date: current k. i Sale Price: $ 200,000 1 - - - r • . - t } T , r 4r • K - � -f M COMPARABLE SALE #5 2033 68th Ave Sale Date: current r Sale Price: $ 239,000 s ,.._. COMPARABLE SALE #6 Sale Date: Sale Price: $ I Borrower: SCOTT HUTT __ File NO.: gr-22st-69av-n _ Property Address: 6911 W 22nd St _C_ase No.: City. GREELEY _ _ State: CO Zip: 80634-7922 Lender: Wells Fargo Bank, N.A - 036040 water is on • f �- �: • a 4 j. • '-vi,4 .= . - l' . . j' . FLOORPLAN Borrower:SCOTT HUTT Pile No.: gr-22st-69av-n Properly Address:6911 W 22nd St Case No.: CO:GREELEY State'CO Zip:80--- -- i 0634-7922 LeOtlef.Wells Fargo Bank,N.A.-036040 • 5 0' e0 MGR cn palm MCI Bath 11• 0' Lning Rm slavC 2 0' BR I imRg Room 1521 SF 220 Finished Base mart wisaleoom IF le'le l n Mt 2BR 5P. 2argmse entry Fa.+Tlly Rm 5 0' nota 14 0' sa se.R Comments AREA CALCULATIONS SUMMARY LIVING AREA BREAKDOWN Code Description Sim Net Totals B'eakdoval Subtotals "GLAl First Floor 1543.00 1543.00 First Floor 'GAR Garage 484.00 484.00 2.0 x 5.0 10.00 10.0 x 14.0 140.00 2.0 x 6.0 12.00 0.5 x 2.0 x 2.0 2.00 I 0.5 x 2.0 x 2.0 2.00 6.0 x 14.0 84.00 • 4.0 x 14.0 56.00 18.0 x 20.0 1 360.00 14.0 x 30.0 420.00 • 5.0 x 22.0 110.00 15.0 x 17.0 255.00 . 4.0 x 23.0 92.00 TOTAL LIVABLE (rounded) 1543 [12 Calculations Total(rounded) 1543 • LOCATION MAP Borrower: SCOTT HUTT File No.: qr-22st-69av-n Property Address: 6911 W 22nd St _ _ Case No.: City: GREELEY _ State: CO Zip: 80634-7922 Lender: Wells Fargo Bank, N.A. - 036040 r • n c- > TT it /Ir. Pi S! Bus _UN 10th St - 34 - W 10th St ick St -4 N. co S a. 9 Ls W 12th St r i V1' 13th St IA di a ^ z r 3p a c ft C O W itini St t Comparable Sale 3 2001 B 1st Ave y, Greeley. CO 60634 -9665 Q L y (0 86 rm to WNW:, S T 45 to Q : o PM u ,. Greeley c,� n -I 1 lc�:h C .,.rr;.r.rahie Sale ; S1 ,4 '4 `x 2033 66th Ave Youth p Greeley. CO 50634.7935 Sports `io t" ' 8 .m Ir5 NNE) Complex T o 20th S! 17- 6911 '!i 22nd St / W2ottt St e, ey. CO 50634 7922 \ -r i st St Q Wrist $t �s h,� Ccmparable Sale 2 '0 O1� 2218 69th Ave C -44 ..?5?. Sreetey. CO 80634.7919 to LK, miles ti1'1J Cale arahee Sale 4 •,7`.;-:_ 2305 70th Ave e Greeley. CO @0634 .7925 ys C::nrerahle Sale 7 06 ores SW) 6715 Vi 23rD St Greeley. CO 90634. 7925 k t(, 06 miles SSW) • ';Sr 24 41 14 S ra ¢Z. vd • 34 2 .__ _ 28tH 51 S; ri 9 5ti lr a :1? 24th` n Y toe,a :Jr x 0 `&-6 Y' , W 3i\ a Lesser '' Rd ' s , a -i ''s• W 32nd St Ra t c Si r's'0 o irk` yet. , L -q A5- ilev3ti:t'. St D' I 27 ' RO�,�, s -r 4• ; l -• .i 0.99 mile 95 72, 37! Borrower SCOTT HUTT File No ,g 22st-69av-n PropeM Address 6911 W 22nd St City GREELEY County Weld state CO Zip Cade 80634-792.2 Lender Wells Fargo Bank,N.A.-036040 APPRAISAL AND REPORT IDENTIFICATION This Appraisal Report is one of the following types: ❑ Self Contained (A written report prepared under Standards Rule 2-2(a),pursuant to the Scope of Work,as disclosed elsewhere in this report.) TJ Summary (A written report prepared under Standards Rule 2-2(b),pursuant to the Scope of Work,as disclosed elsewhere in this report.) ❑ Restricted Use (A written report prepared under Standards Rule 2-2(c),pursuant to the Scope of Work,as disclosed elsewhere in this report, restricted to the stated intended use by the specified client or intended user.) Appraiser's Certification I certify that,to the best of my knowledge and belief: •The statements of fact contained in this report are true and correct. •The reported analyses,opinions,and conclusions are limited only by the reported assumptions and limiting conditions,and are my personal,impartial,and unbiased professional analyses,opinions and conclusions. •Unless noted below,I have no present or prospective interest in the property that is the subject of this report,and no(or the specified)personal interest with respect to the parties involved. •I have no bias with respect to the property that is the subject of this report br the parties involved with this assignment. •My engagement in this assignment was not contingent upon developing or reporting predetermined results. •My compensation for completing this assignment is not contingent upon the development or repotting of a predetermined value or direction in value that favors the cause of the client,the amount of the value opinion,the attainment of a stipulated result,or the occurrence of a subsequent event directly related to the intended use of this appraisal. •My analyses,opinions and conclusions were developed and this report has been prepared,in conformity with the Uniform Standards of Professional Appraisal Practice. •I Et have ❑have not made a personal inspection of the property that is the subject of this repon. •No one provided significant real property appraisal assistance to the person signing this certification. (If there are exceptions,the name of each individual providing significant real properly appraisal assistance is stated elsewhere in this report.) Comments on Appraisal and Report Identification Note any USPAP related issues requiring disclosure and any State mandated requirements: APPRAISER: //� SUPERVISORY APPRAISER(only if required): Signature. of/ f4't'J!� Signature: Name:David Tuttle Name. Date Signed:05/22/2010 Date Signed' State Certification ti. State Certification d. or State License Y. AL01324456 or State License n State.CO State Expiration Date of Certification or License 12-31-2011 _ Expiration Date of Certification or License. -. Effective nate of Appraisal May 20,2010 Appraisers Degree of Subject Property Inspection Supervisory Appraiser's Degree of Subjeci Properly Inspection. Lipid Not Inspect ❑Exterior-only from street n Interior and Exterior ❑Did Not inspect O Exterior-only from street ❑Interior and Exterior V s il 111 . u IONVACAN 11111 A. Settlement Statement (HUD-1 ) TITLE ca III � ,'ry L] Estimated rid Final Like) Clockwork• B. Type of Loan 6. File Number: 7 Loan Number 8 Mortgage Insurance Case Number: 1.0 FHA 2.n RHS 3. [)Conv.Unins. 33700-10-03141N1 0281447649 4.D VA 5 0 Cony.Ins. 1 C. Note: This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown. Items marked"(p.o.c)"were paid outside the closing:they are shown here for informational purposes and are not included in the totals • D. Name and Address of Borrower: E. Name and Address of Seller: F. Name and Address of Lender. Scott D.Hutt U.S.BANK NATIONAL Wells Fargo 746 Club Oaks Dr. 3900 East Mexico Avenue Sandy,UT 84070 Denver,CO 80210 G. Property Location: H. Settlement Agent: I. Settlement Date: 6911 22nd St. North American Title Company of Colorado ' Greeley,CO 80634 • 7900 Union Ave.Ste 100 June 9, 2010 Weki County,Colorado Denver,CO 80237 Ph. (303)352-2158 Place of Settlement: Drakes Crossing 7900 Union Ave.Ste 100 Denver,CO 80237 J. Summary of Borrower's transaction K. Summary of Seller's transaction 100. Gross Amount Due from Borrower 400. Gross Amount Due to Seller 101. Contract sales price 170,000.00 401. Contract sales price 1 170,000.( 102. Personal property 402. Personal property 103. Settlement Charges to Borrower(Line 1400) 4,388.22 403. 7 104. Payoff 1 404. 105. Payoff _ 405. Adjustments for items paid by Seller in advance Adjustments for items paid by Seller in advance 106. City/Town Taxes to 406. CitylTown Taxes to— 107. to 407. to 108. Assessments to 408. Assessments to 109. 409. 110. 410. 111. 411. 112. 412. 120. Gross Amount Due from Borrower 174,388.22 420. Gross Amount Due to Seller 170,000 200. Amounts Paid by or in Behalf of Borrower 500. Reductions in Amount Due Seller: 201. Deposit or earnest money 2,000.00 501. Excess deposit(see instructions) 202. Principal amount of new loan(s) 124,000.00 502. Settlement charges to Seller(Line 1400) 1 1 190_ 203. Existing loan(s)taken subject to 503. Existing loan(s)taken subject to 204. _ 504. Payoff First Mortgage/LN# 205. -- 505. Payoff Second Mortgage/LN# 206. 506 207. 507. (Deposit disb.as proceeds) 208. Seiler Paid OP 555.10 508. Seller Paid OP 555. 209. Seller Paid Closing Costs 509. Seller Paid Closing Costs Adjustments for Items unpaid by Seller Adjustments for items unpaid by Seller 210 City/Town Taxes to E 510. City/Town Taxes to 211. 01/01/10 to 06/09/10 515.78 511. 01/01/10 to 06/09/10 515. 212. Assessments to 512. Assessments to 213. 513. 214. 514. 215. 515. 216. 516. 217. ' 517. 218. 518. 219. 519. 220. Total Paid by/for Borrower 127,070.88 520. Total Reduction Amount Due Seller 12,260 300. Cash at Settlement from/to Borrower 600. Cash at settlement to/from Seller 301. Gross amount due from Borrower(line 120) 174,388.22 601. Gross amount due to Seller(line 420) 170,000 302. Less amount paid by/for Borrower(line 220) ( 127,070.88) 602. Less reductions due Seller(line 520) }( 12,260 303. Cash n From n To Borrower 47,317.34 603. Cash n To n From Seller 157,739 TO THE BEST OF MY KNOWLEDGE,THE HUD-1 SETTLEMENT STATEMENT WHICH I HAVE PREPARED IS A TRUE AND ACCURATE ACCOUNT OF THIS TRANSACTION. I HAVECf)SED •1/WW1LL CA FUNDS RECEIVED TO BE DISBURSED IN ACCORDANCE WITH THIS STATEMENT. -11..-11..-•11, A�. -....Ti nrtnon.nK"AInrsrin Hello