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Home My WebLink About20091966.tiff‘tet ;kr. COLORADO September 3, 2009 CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4226 FAX: (970) 352-0242 P. O. BOX 758 GREELEY, COLORADO 80632 OCHSNER LONNIE L & 640 N CACHE CT GREELEY, CO 80634 RE: THE BOARD OF EQUALIZATION, 2009, WELD COUNTY, COLORADO - STIPULATE PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE DESCRIPTION OF PROPERTY: ACCOUNT#: R8029299 PARCEL#: 080533306001 - GR 1PRR L1 PUD IC POUDRE RIVER RANCH 1ST FG SITUS: 640 CACHE CT GREELEY 80634 Dear Petitioner: On July 28, July 30, and August 5, 2009, 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 2009. 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 DETERMINED BY ASSESSOR ACTUAL VALUE AS STIPULATED $412,000 $397,000 2009-1966 AS0073 //r /t'9 OCHSNER LONNIE L & - R8029299 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 2009-1966 AS0073 2009 COUNTY BOARD OF EQUALIZATION WELD COUNTY ASSESSOR'S ACCOUNT NUMBER R8029299 STIPULATION (As To Tax Year 2009 Actual Value) RE PETITION OF: NAME: OCHSNER LONNIE L & 640 N CACHE CT GREELEY CO 80634 Petitioner(s), OCHSNER LONNIE L & and the Weld County Assessor, hereby enter into this Stipulation regarding the tax year 2009 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 1PRR L1 PUD IC POUDRE RIVER RANCH 1ST FG SITUS: 640 CACHE CT GREELEY 80634 2. The subject property is classified as Residential property 3. The County Assessor originally assigned the following actual value to the subject property for 2009. LAND: $85,000 IMPROVEMENTS: $327,000 TOTAL: $412,000 4. After further review and negotiation, the petitioner(s) and Weld County Assessor agree to the following actual value for the subject property. LAND: $85,000 IMPROVEMENTS: $312,000 TOTAL: $397,000 2009-1966 4. 5. The valuations, as established above, shall be binding only with respect to tax year 2009. 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 16 day of July, 2009. -R ti£ioner(s) or At orney Address: Z/6 .Uac tcet 2) cZ%e gy Petitioner(s) or Attorney Address: Telephone: S%Y - Telephone: County Assessor: ADDRESS: 1400 N.17th Avenue Greeley, CO 80631 (970) 353-3845 ext. 3656 REAL AND PERSONAL PROPERTY NOTICE OF DETERMINATION Christopher M. Woodruff WELD Assessor 1400 N 17th Ave GREELEY, CO 80631 Date of Notice: 6/24/2009 Telephone: (970) 353-3845 Fax: (970) 304-6433 Office Hours: 8:00 AM - 5:00 PM SCHEDULE/ACCOUNT NO. TAX YEAR TAX AREA LEGAL DESCRIPTION/ PHYSICAL LOCATION R8029299 2009 0652 GR 1PRR L1 PUD IC POUDRE RIVER RANCH 1ST FG SITUS: 640 CACHE CT GREELEY 80634 640 CACHE CT GREELEY, CO 80634 PROPERTY OWNER OCHSNER LONNIE L & 640 N CACHE CT GREELEY, CO 80634 PROPERTY CLASSIFICATION ASSESSOR'S VALUATION ACTUAL VALUE PRIOR TO REVIEW ACTUAL VALUE AFTER REVIEW RESIDENTIAL 452,407 412,000 TOTAL $452,407 $412,000 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. 15-DPT-AR PR 207-08/08 NOD k'. 2359 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 10TH Street, P.O. Box 758 Greeley, Colorado 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 11. 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 9 Avg end 9th Street, P.O. Box C Denver, CO 80203 Greeley, Colorado 80632 (303) 866-5880 Telephone (970) 356-4000 Ext. 4520 www.dola.colorado.gov/baa 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, 2008? (Your opinion of value in terms of a specific dollar amount is required fo re I property pursuant to § 39-8-106(1.5), C.R.S.) $ 66Cc (CC' 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 document tion, i.e., comparable sales, rent roll, cuiginaSpiecost, appraisal, etc.) � � fi�j�ysctte 7vt /r''2 �d ‘-es a--g-r-e,'Z:A-eajaya-ca oC /4-2 3rd Ge .'.47so 4 ��-cc v-, .2- O7 r sac /Cat `t '7/ 6 tt#t- !e-direct a cer ATTESTATION I, the un ersigned o ner or agent' of the property identified above, affirm that the statements contai here on any attachments hereto are true and comp) te- gnatu�e Telephone Number Date 1 Attach letter of authorization signed by property owner. 15-DPT-AR PR 207-08/08 NOD if 2359 JUN-01-2009(M0N) 09 14 • Abap rasa Eaom Ventures, hc. tract IMe3HI.faa.dal P. 001/012 Exterior -Only Inspection Residential Ap sisal R I p v Dv pulpuse o1 ails summary appr7N01 repel is to provide the tender/client wM an amuses, and adrquatefy P.aDpofW, oprneZen q tie moils market of Its m eject rah* properly. Property Adae$s 640 N Came Coon CM Greeley Sam CO Zip Coda 80634 Emnowe OCHSNER Owner of Pubk Record OQ'ISNER Gently Wok) Legal aescdPlm Lohil.51P.I;PRIMIN RrccB;lbelf AFOeaors Patch Tax ID R8029290 Tax Year 2007 HE Taxes S 2A47 Nolandinded Name Peas River Ranch Map Reforms Ceram Tract 0014.01 Danis RI Owner fl Toes rl Vacant Spmbl Asua.nuals 5 Nona known N PUD HOP 5 150 PI perytal I I moat per Propely HigMs Appralsod Rf Etc Simple nLcasclald . old Umae ASAipmem Type I I Paresse Trumann 2 Rename Transaction Omer(aerttlnet LANeteed Elevations Credo Union Adores 4769 Baseline Road, Boulder, CO 80303 b the subject pltpary crormdly offered for solo or has a hoot odlmed tar sak in Its Nader mantic Ste to the eNu,live rota: d Nib apptalaal? L Yes U NO Report dab esmcn(s) used, diming pdm(s), and diktat public RecoragJi4LS. I U did Mehl not analyze he contact torsal for Me surliest Wrdpse ltansaNpl.&NenMe rata% el Me arpyslocf the cost ten fa or:WI pmanyekYin not peinrmal. NA coiltatIMee 5 NA OseninaaCt 5/14/06do1 IS Me ordoetiy sealer me ownsq []Yes WM: reenm7 flue Data Sare(%) IS tMe any Annual assistance Sean emcee, sae Wrzesslae,oft! ordownpaymsAselNantt, pry In he pall M any parry on Pellet of the baraer? O Yee ON If Yes, moot thalami ri deramouq and describe the hens to hopall. Nam: Race end the racidcompoei8on of the neighborhood banal appraise factors. NIMIIIIRIGNIINdiplIbtIMbd,gNgpMf JTIt1NNGINilll IIIAIIIIInnliliblIliul:i1A01gtOnICHptlinglrrentlsJEIItait11PIIIflfJIIIIgIa IIN110111CUNvllofujoifis iii p1 ALpant4JsellboliI Location O Man U SUWrbah U Rued Pigperin Vases U N. ashlQ I.181ahe N DecanNp� PRICE BUI1AIp Ore 75% IX125.75% I_I_LYder25% AGE Ore•UON 70 % Erma U n OLmaolfSepply_USAoraye 0:1 In Balance t l Oversurpy a MR lvrs) 2dUNt % Rapid Sable []Slow MaM1nn0 line D under 3 rats ®3.6mill 0Over 6 WIN 250 Lew Now MuNfun4f Neigh taINI f NNnciodaS Neighborhood Boundaries consist of; W 0 St to the N, N 50th Ay to the E, W4Ih 490 High 15 10% Commmchl St to tfn S and 03rd Av to the w. nsaoD Pled. 5 Other 20 % Neigltunwod Oacllplon The naghbnhood Is located In N Greeley. It consists of primarily avennee to good eIngia (amity residence'', some on snail acreages allow7J , upkeep of livepock as well as earns rated The sublect is reasonably on:Artiste to oil supporting services and tact@ins. Thu Weld County unemployment rate b below the notional average. WADI Eelatcnr(Including support fin Na above aacb aos) >oMpd marker condition!' Y1 Weer Countyare stabs, In scm areas and dawning In ahem at Iles limo. nnern,krg in prVn:aray mavenllonal. Loan miscounts, Internet buydowne and other sales c000eaelons me MIS date, the are rarely elanWMant. According to average marketing One for the area la 121 days with gabs overanirrg 95%of list price, Obrembns Bwteen to Survey Nee 13,503 SF/Avg Shape Mostly Recinn term View Neighborhood Speedo Ruing ClualIalonFt%. Zoning Oppipeon Residential Toting Carrrp:arta © Legal O Lcg4 Nulwmdanclg (RandIalied Use) I I No bring U Hogan {oesebei Is mlet4gcCt auJ htstUss 0lsublatl property as Improved faros proposed per mu and Rleeseadavltte preen we? (gni No FtNo, dwalb whew Punk Omar(desabei Public Other(desetlhel 0r1•ahs Improvements -Type Public Pnvalt Sunni ® T I Water Greet AapMlt 2 L I Gas ) i Sanhey$awm ,SZj H Airy Nano 11 n FPMAspadeHodhatare Nita UYee ®Nn Fab Nnodtom C FBA :MP a Oe028608oao FEMA Map gab 9/27/1991 AMIN ebbs and of -else lmporenrrda typical lm Nu hetiol act? 04 Yrs I INu ONO, decothe Am there any adase aft cornOoss 0/ eaemal lateb(msmtnb, eneroaclune m4ronlMntal condiHOvs, laid r" uses. dCJ2 ❑Yes M No ItYee, dascrte Normal Utility easements are assumed. No adverse conditions ware noted during the oeurior inspoctkn. Soarerlc) Used Iry Physical Cbaactalsg4o PI NOW I LAppolsal Files yi ML ' yrAssegmeti and tat IJecods I I PrWtnspechia II nunelY Owner 1 I Omer teat00epub Smeeor Gross Lid Arm anumnenlnemiGentral l eel!mamhla Units blbbemaGeleoSIDettptlonkmr,Im it asselle5inAICoolhgluawnr nnulnlllrAmenitleaa,lnrlur spnleelH!IHCeastoragestaissa birl Out U Om AS Aeelc:dry UNI I ConeiteSIM I Crawl Space FWA I I HMO Hepacapl a 1 IJI I NnM Rol StMes Tax4 121 n Fug D ems II Halm , r Rhino Wnodeovn(s) a frl Orbital • al Cars iyw liar. L I an i I S.Osrta UM —I t Pads Basement [["�� Related fj Ober Palp'Occk 3 Ddwway Sulfate ESsbrg I Proposed O Dade CmaL EMlor Walls Fem/Sln/Avg Pod ens Porto Concrete V1.3113)0 a ft or Cars Dmlgn (Stye) Teo Stay/Avg RON Susses Conpo/Avo W Central Alf COMmoripi PON 3 1. j Carport ant Care Year Boil 2000 Chars & Downspout:Metr /Avg LJ IMMAIIal Fete Maya Are [>?f Attached ❑ pearled (yh12-3 Window Typo Tharmoprvms f cal= 11 Other I I min -In Amasnen _ Refrigerator IRI Ramo'Ovm UU Obhwas&m al DlsgWl I I NYpena/e I MAXIM/Dryer , Doer (fieotma) Wdsitl am above pale Contains: 7 Rooms 3 NeOboms 3,5T Hama) 2,781 Square Fes el Cauca Living Nee Above Grader Add:onal legume (special energy efficient beam, real Features Include: PO Finished basement, polio, CAC nnrMkgr system. Ufa and hnniwgerl flown, Describethe oondlaon of Na properly and dab srer:elsi Ncluaog mount needed Icell/s, ederloratien, relgmotions, errenetn, etc,The eubleol le assumed to be In COMIIIat. good Cnndaon tors an ertee1IX inspection, and from MIS Comments and no repairs Sr. indicated. Are Nee toy awl panto ddbleldeo or adverse mold= drat ailed ma llnhlhy,soundness, orahuctiral integrity of tic popsy? ❑Yes EgNu II Yes, demlb°. eon M property grrxraey CdNmret to tie mlphromood fulctloret unity, We cendliOlLob mstne0on, Nis)? g Vas 11 No If No, deaths Pao 1 et 6 Pone 2005— 5Mn10TAL• appraisal software by a la nude, Inc.-1-900ALAMOOE Fannie Mae Form 2055 Marsh 2005 JUN-01-2009O10N) 09:15 I11Ie Na. 229021 r _9!t P. 002/012 Exte _.• _,. _. _ _ _- ._____. ..r.r..._......r... raw [puOOO Theta aro iji corn ar c plopaics Cur Bleed Mt sale N Ire subject r lghbodoed weld In price lime S 349,000 lO 5 690,000 Them em a copparabie eat in IIIe seD]P10 ndt}moleoi Within Ire past Ameba months ranging M SPOpfce DOM $ 325000 m $ 599,000 feAlmdE I SUBJECT COMPARABLESALE#1 COMPNINILE SALE 2 COMPARABLE 51tE#3 ACM 640 N Cacho Court Greeley, CO 80634 7318 pewee River Road Greeley 113 DOM 224 N 54th Awnuo Greeley 128 DOM 227 N 51st Avenue Oreelay 337 Prmlmlry to SlUlect BIIHIBIDI LPIIIIN : ICi, 4 Blocks W mil 1.2 mWe SE m8 DOM 1-2 miles SE mil Sda price r NA IMNL'!'ribijal,bbbl5 43800011tIdlblllll:IMIl4HrlIl'e 325,0001A4111AItIllete AieirjIMIs 345000 Saki Olce'GmeaIA, . Ana 3 1'y 84 Sqq.IL $ 201.66 Sq.rt.]G19i8111tt Stela $ 137.19 sqh IIilYDIIWIIIBiInflHllor!ut'. $ 124 5_E.8.rail mkm1I1Idnri:rllTi Dila Soumelsl inifIlITYll I/lld%Mb ML SN 537582 MLSA 551608 MS2,520721 Valli onion Source(.) R],rarNIoI iugeIml County Records CyuOjg8nardt County VALUE ADJUSTMENTS Oy�ESCPIP111OAIJ DESCRIPTION +p) 5 Ad $emmd DESCNd'IION +1-) SA stows Record" CPSCMPIION +(-) S Ad$sbrtat Sales Goradalonsor Naming JRIIIIkMi�iIWlIMNti7lIIN [Iuail3jllnun I d$ Mkt Rates Cam No Pm MM Rates Corn No PM 051 Mkt Roles Cato el SaNlflmc itUinclvit iddgAmmA 1011512007 3/13/2009 1/15/1008 Laotian Poudre River Poudre River Ferry Farm Kelly Fame lean OF Simple Fee Skalds Foie S_IDpR1_ Fee $Anpls Fee Simple Slle 13,503 SF/Avg 17 424 sf/Avn -5,000 10019 sOAvg +2000 10018 $F/Avg-- .2,000 Mow Neighborhood Coif Course -30000 )JaidhkarhooL Nelanbamood Oalpn R1 Two Stay/Ave Ranch/Good .15,000 :rem Story/Avg Two Story/Avg OIkd18 or Cessmatim Frm/Sin/Avo EldbidAvn -10000 FrmISM/Avo Frm/Stn/Avd Actual Ape 2000 2000 2004 2004 CmdWn Good Good Anus Grade Twl Farms A;dlc Tre Danes Dame Tdmd Itlann. Bmu Tel prem:l lldh: Room Count 7 3 3,5T 7 3 4T -1,000 7 4 2.5 +2,000 7 4 2,5 •2000 Grose Laing Area 2,781 sq.N. 21,72 SOEI. +18,300 2,309 sgil. 12,400 2770 Basenod & Flnislal ROW[s Below Glade 1,800 $q.PL 75% Finished 2188 SF 75% Finished -2,800 1025 SF Open +10,800 sq.n. 1604 SF Open +7300 Ppaddnnl LMy Average Averrigq- Ave aaa Average HYCrq/Coding GM/CAC GPA/CAC GFA/CAC GFAICAC Ew9y Efldud pros Tnermopanoa Tnermapanee Thomppnnca 7Mrmapanea Gma9dCmpdrt 3 3 Car Garage 3 Gar Garage 3 Car Gara PdmVPao/peck Patio Pk+ Patio Deck Oil hr FilopkKrespmkl Fire plaee/$pmkl Fireplace/Spine) FlesinCe($pmkl IncmAlpemde JngILMort/Nen IncllUpgrades IncVUpgrIn, •20,000 eseiDenrrient +20,000 IA (idol) IiIIIIIIiiIlliI1911111tiWINl' II+ (?0 - $ 45,500 �+ f1T5 47,200 PI n - s 31,300 Apusle0 Saki like of Comparables iil�'i AiI s1fl{{ ()? },�p1�I[Iylf Militilljl!IjIII� Nd ADl. 10.4 % Gross 411, 18.7 % S 302,500 Nm Adj. 14$ % Grose Adj. 14.5 % S 372,200 WAIT 9.1 % Moss AAl, 9.1 % 5 376,300 I Kaki I I MOW nsearon ins sale obaMer ling d eye subjcd poverty and wmporan Saks. V not, mom My monarch ®did ❑ del nol mkal airy Odor sales Of A3ASlefs Ol The mmlas ryopely tortha dsoayam pr kr to ds dI ll dale does apps ol. Data 5o uocls) Puma Records My remain I I did 09 the ram Rya' airy prior sake onwates al thy songdaae salts lot NC War pgWto tlp cite of sale inn comparable Wa 0Qpta Saute(s) Pubic Records 1 Ow rest d the roeaarch eltl na ills of 9w Wlor sale orinno el bttary of One meld amperry and congaable sale 5rpa1 addoolia ai r sal s on pipe 31. REM SUBJECT COMPARABLE SALE #1 CONIPNiANI.E SALE 02 COMPARABLE SALE S3 Oak IPYwruak/sfamler 3/011200 7 NOLrinraaee No odor sales No Pt Wr sob' pace M Mar Sale/franalz 397,000 M the paa year n Iho pa sI yore In tnapea year Den Somacojsj_ County Rococo Conn Records County Records County Records ETeeeve 0:lell Da615ourse(sl5)142008 5/14/2008 5/14/2008 5/14/2000 A of or sate or nosier Nita" of gosebjml�,pn&y at at) Saks The sublem wee purchasegsg Org111007, II Iva+ not otherwise been eon in Gho post 3 Avon'omparables have not been limed or sold in Oho pas) year. Summh of Saar Conyaison Approach She ghee am epprorknato, G1,AJp,OditMled el $30 per SF. Bathrooms are adjusted at $1000 an1(2&gig Condition/Ana adjustments reflect market reaction In newerhipdated properties. Basements aro adiuslod al $d for area and $4 rinleh. No adjustments are mode for Mot IMO 100 SF, Al other adjustments ere sel-o planafory, Iodated Vale by Sal es ConnorhonApproach 5 380,000 Indicated Valid by: Sala Comparison Appraachs 380,000 COS tApproadi Ofdeveloped)$ 382,277 Income Alapmaah (if developed) 3 Most valuie Is.g}von 19 Ih2market approach. The cost approach is suPPORDO, The Income approach does not apply due to lack of rolinkle lc 01 data. TNa appraisal le made ® as b", U smell to completion per Ono and aleellicaSo a antic lisle Of a I8I0IMOcll [Dilation eat me Improoements have boon canplelod, ❑ subject to the Idfewlep repairs or Mentions on 8e bads of e hypo9dtd Seminar Mat Ilse repairs or abemtkrIs lova been completed, or O sub''et redid mowing rewired llispeGlon based on de mnoMJmry aeem,sAte he the eemidan or delltimW does mil moues alealisi Cr rawer. No cohdaiorae. BOSH on a 111911 Impaction of the matador areas of the subject property Sam al least the street, debited scope al work, statement of assumptions and limiting conditions, and ap pubews certification, my lour) opinion of me marlef value, as defined, of the rd property that is the subject of Mb report Is S 380,000 -,a of 5/142000 , which la the doe of Inspection ad the affects dale al thle jppnWL Pace 2 of 6 Farm 21L5—'thnTOTAL' appalls' coaware by ale mode, Inc. —1-500ALAM00E Fannie Mae Form 2055 March 2005 JUN-01-2009(M0N) 09:15 P. 003/012 e xa 2on`in ptni'e Exterior-Onl Ins ection Residential Appraisal Re on. FMN 200830 Site sizes are approximate or Dor county records. The subject Is located In the Poudre River subdN)plon In North Greeley lust SE of Windsor. The subdivision is a newer one with several new construction homes listed for sale. According to one Reader In the area, the bulkier Is having trouble Wilma these homes. Most are ranches, many of them are priced well over $50g000 and aro sitting. Parts of Grooley are considered ealeFll0lpOJnafke4,. The sublect Is a two story home. The only sales In the subjects subdivision in the past year are ranches. There jxava not been many comparable sales at all in MIS Utbdloisien in :pa t r. e f fhb it waa necaeaa to o pulsitle lhathe hbomgpi and extend the distance parameter) sax to 5 miles to kalude other win ftly° no hborhoods with two st homes and with similar amenities. View adjustments reflect market reaction to golf course views of comparable 1. Photo #21s an IRES_pJioto4 The subject is assumed to be la good condition as are the co parables. Comp #t Is a ranch home with all brick Construction. Adiustmente to design retied market Crearonco for ranch style Fames as well as the brill n r Ad ustmonts to quality of construction reflect market preference for brick/mason eems o lame maNVena/ICe, brick/masonry wnMruction due to a lesser degree pf�equired ast 000 per are made all Sand 11 SF for each half 25% of finish. No ad uslments ere m $30 SF and ade for diffeto rences ofreSt f less than 99 SEAR otjherr adlustments are self eivianatoly Finance Mi stmenta reflect salsa cpnce_seiorre,pts paid by saner and NnunGnq programs. Boasts° comparable #4 Is a listing, financing. final sales price end date of sale have yet to be determined. The adlustmern to this comparable reflects potential negotiation of sales price. EXTRAOPpit4Apy AND LIMITING CONDITIONS: The findings herein are based on conditions madly observable at the time of the inspection. The appraiser IS not a building contractor or a qualified home Inspector. The appraiser is not qualified to on 'cal de s that are net ea visible. An ante tot transact •i observe or report Infestation, contamination or other Issues about the subject PI m teal moraliser till aproperly are urged to coneuN an expert in the ean geld. This Ik i 1t C E RppldlOa�Y@!m 0tkon m t fhe eWlcet pmoaM is s Ua and nducive to ether oroo nil within H market area with regards to the items listed above Extraordinary Assumption Is defined by USPAP as "an assumption, directly Alec[ rotated to a specific assignment, which If found to be false could alter the apoml r n' This appraisal is based en information obtained by an extenor inspection only _an exterior Inspection n of the comparables and Information otatalned tixovgh Mt,S, assessor records and Realtors. Illtidlimiriiirins oIIIllmmciIICnlillllllfl ialititti lltdnlAllllicipl100yntwpgcldessWetindfFddBhyl6yearnisIpliejllNlgdI Will, ildilhlAB'IIAnkIIInIInftINIIIt611tIDOIdNIIIIIEinlIGN Preside Somata isle manor Cho je ler ndcrhkm W retti licatele below nut Mum And emotions SUppm for to °pion of site cobs (tom y nl compendia bid sales at other mvdsde le v tale void) meted. aMalhB ) LrmO wile kt mtlmale0 using me eHreatbre ESilmn1SI n REPfaiiicTION OR IIBLACE6£Ni COST NEW Soma N me dots National Cost Service Manimis 8 Local contracts Oaity rat fiemcoct seryte Etectva Pate tCosto 5/14/2008 Co nlmtns on Carl npproxn Mons uwng sea caI Slone, ntnalbm, arc.) Square tempo osculations are estimated and rolreivad from pub'k records and or the local MIS. Costs have been °slima)gd Iralmt notional cost maaunts, No fund or external ob$Ok}ccense was rated. OPIOON OF S11E VALUE OYaEWNO 2,781 Sort eta —S 65.000 o0,290Baeemem 1,880 Sgft 20.00 -S (y1$ Flreolace/IncWpgadea 37,600 Barage/Calpat.e e l 24P Sµ $ 20.00 .._ .... S Tact Estimate Ul Ccp•New -s 4 80000 -�, -$ 312580 appnot IEHMS $1 eared]Vnn 10,4 OlpmcLd,d Cost of bnpluv As•ia' Value of Site l h 3 Ile 00.00 .s EsUmtej Rmn#sep Era the MUD anti VA Cory) 58 Yen lNTGOEa VASE BY COST APPROACH mated MlOlOIIhIGlHHIIIifkIBUII1111GBIPIIINIriIIIC 601plllll":III;Y, „IHWpEMpppOpCHiTOjVAL'UE(bjorlM W ---- `s 382,277 Eesrralod Malty Madad RetS NIA A Olss Rem Meader NIA ..-. .. . Summary d kasha Aamocll IlitWag soeee lot mmltel and ammo( 1M) A 1p,41j -s 302,277 -3 0 000 Ind led VaNmWince m IDIFI1iN!b!INInIUithr111N mil l litimoNhpipN4'NIINrqdripmilkolOE"IppOUECTINFORMATIONFORPUpg(IPapplldtlk)ItltlONlplpl .ib Oll lf'dyrvr 91 VIIIII111iN1i]IyIN1iINIliElllilYhlllflplill la the rkytldptAtar& In control at tee Homeowner' Association iROA)i O Yes O Nc (hit halite) ® Oobctad fl Attached Plovkk Me too no Intmeeon for Mins ONLY It Ire develo perAtdl& Is In comet of ae HOA and Um subject WapctiV b ill albehed dweilm unit. l,e9al sad Pmled Total nanherolp Total menat of N as Medal Crw0itl Mile ct" tom teamed comb any mulde Aro by sib, common T t0tet of teats l Total rants of Nasmurc min for sale ) co of eNUlg 6dldnq(a) WE a PhD? n Yet nNo II dap bid tat? OYrs I'INo tag5,1=4(51 Yea, tits slam d recreation I '-- rats Salt rJM otreldei LI Yes Ti No It NA dqunhe me stilts at comp on. Aro common chliwAs boardtsorby Inc Nonto o •Asspclpion? 1IYC9 Onserfe COMM Mown and mecnatocal balks Freddie Mac Form 2055 March 2005 No II Yes, de .br he nodal lmm and Paps 3 at 0 Fannie Mae Form 2055 March 2005 farm 2055—swisfoTAL' ovoidal software by ab mode, Inc.-1-600ALAMO0E JUN-01-2009(MON) 09:16 rotaNn.2LILetail outs edl P. 004/012 Exterior -Only Inspection Residential Appraisal Report Fria 20085a This report form is designed to report an appraisal of a one -unit properly or a one -unit property with an accessory unit; including a unit ii a planned unit development (PUO). This report form Is not designed to report an appraisal of a manufactured home or a until in a condominium or cooperative project This appraisal report is subject to the following scope of work, intended use, intended user, dallnidon or market value, statement of assumptions and limiting conditions, and cerUncations. Modltcadons, addnlarc, or deletions to the intended use, intended user, dotintem m market value, or assumptions and limiting conditions are nut permitted. The appraiser may expand the scope of work to include any additional research or analysis 0oeessary based on the complexity or this appraisal assignment Modifications or deletions to the certifications are also not pormlUod. However, additional cerkfIcatlons that do not constitute material alterations to mis 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 el market value, statement of assumptions and limltino conditions, and certifications. The appraiser must, at a minimum: CO perform a visual inspection of the exterior areas of the subject properly tram at least the street, (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. The appraiser must be able to obtain adequate information about the physical characteristics (Including, but not limited to, Condition, room count, gross living area, etc.) of the subject property from the redactor -only inspection and reliable public and/or private sources to perform this appraisal, The appraiser should use the same type of data sources that he or she uses for comparable sales such as, but not limited to, multiple listing services, tax and assessment records, prior inspections, appraisal files, information provided by the property owner, etc. INTENDED USE: The Intended use of this appraisal report is for the lender/client to evaluate the property mat 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 whleh a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer aria 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 Mai 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 nor 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 bo made far special or creative financing or sales concessions. Na adjustments are necessary far those casts which are normally paid by sellers as a result of tradition or law in a market area; Iltese costs are readily Identifiable since the seller pays these costs in virtually all sales transactions. Special or creative Ilnancino adjustments can be made to the comparable property by comparisons to financing terns offered by a tad party institutional lender that is not already involved In the Properly or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost or the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the framing ar 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 apprIer will not be responsible for matters of a WOW nature that enact either the properly being appraised or the title to it, except for information that hu or site became award al 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 examined the available flood maps that arc provided by the Federal Emergency Management Apency (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. 3. 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. 4. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of hazardous wastes, toxic substances, etc.) obsorved during the Inspection of the subject property or that he or she became aware of during rho roseareh Involved in performing ihls 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, deteriorallon, 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 of testing that might Da required to discover whether such conditions exist. Because the appraiser is not an expert in the (fold of environmental hazards, this appraisal report must not be considered as an environmental assessment of the property. 5. The appraiser has based his or her appraisal report and valuation concision far an appraisal that is subject to satisfactory completion, repairs, or alterations an the assumption that the completion, repairs, or alterations of the subject property will be performed in a professional manner. Freddie Mrs Form 2056 March 2005 Page4 orb Form 2055—'W1tT0TaL' appraisal sonare by a le mode, Ire.-1-BO6ALAMo0E Fannie Mae Form 2055 March 2005 JUN-01-2009(M0N) 09:16 P. 005/012 rarer ?hn93a1 P rs51 Exterior -Only Inspection Residential Appraisal Report aae, 200836 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 M work requirements stated in this appraisal report 2. I performed a visual inspection of the exterior areas of the subject property from at least the street. I reported the Condition of the improvements In factual, specific terms. I identified and reported the physical deficiencies that could alfect 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 Thu Appraisal Foundation and mat wore In place at the time this appraisal report was prepared. 4. I developed my opinion of the market value of the real properly that is the subject of this report based On the sates comparison approach to value. I have adequate comparable market data t0 develop a reliable sales comparison approach for Nis appraisal assignment I ;unbar certify that I considered the cost and Income approaches to value but did not develop Isom, unless otherwise Indicated In this report. 5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject properly, any altering for sale of the subject property in the twelve months prior to the effective date of fills appraisal, and the prior sales al the subject property (Or a minimum of three years prior to the etiective 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 ono year prior to the date of sale of the comparable sale, unless otherwise Indicated in fits report. 7. I selected and used comparable sales that am locadonally, physically, and functionally the most similar to the subject property. B. 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 bane built or will Do built on the land. 9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between Me 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 properly Is located. 13. I obtained the information, estimator, 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, ele.) 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 al the property value, and have reported on the effect of the conditions on the value and marketability or the subject property. 15. I have not knowingly withheld any significant information from Iles 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 genially 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 properly or or 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 tor performing this appraisal or any future or anticipated appraisals was nut condlllonod on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predolormined specific value, a predetermined minimum value, a range or direction In value, a value that ravers the cause of any party, or the attainment of a spucitlo msuh or occurrence or 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 rolled on significant real property appraisal assistance From any Individual or Individuals In the performance of this appraisal or thu preparation of this appraisal report, I have named such Individuals) and disclosed the specific tasks performed In this appraisal report I certify that any Individual so named is qualified to perform the Make. 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 wit take no responsibility for it. Freddie Mac Form 2056 March 2005 Pape 5 el 6 Form 2055—'WnTOTAt• apprafaal vessel, by e m mode inc.— t-60G Fannie Mae Form 2055 March 2005 JUN-01-2009(M0N) 09:17 P.006/012 roentgen Pr -1 Exterior -Only Inspection Residential Appraisal Report FW# 200836 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, 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 omanlnllanS; any department, agency, or instrumentality of the United Slates; and any stale, the Nattier or Columbia, or other ludsoleilons; 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 ar distribution by me. 23. The borrower, another lender at the request of the borrower, Igo mortgagee or its successors and assigns, mortgage Insurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as pert of any mortgage finance transaction that Involves any one ar more of these parties. 24. If this appraisal report waS transmitted as an 'oleetronic 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 oontdnlng my original nand written signature. 25. Any Intentional or negligent mi representation(s) contained in this appraisal report may result in civil liability and/or criminal penalties Including, but not limited to, tine or Imprisonment or both under the provisions of Tile 18, United States Cade, 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 me appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 2. I accept mil responsibility for iha 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 portorm 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 AppralSai Practice Thal wore adopted and promulgated by the Appraisal Standards Board of Thu Appraisal Foundation and that wore 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 slate laws (excluding audio and video recordings), ar 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 Signature Name Kimberly Arco Company Name N/op R am°nmres, Inc Company Address 1410 Cudarwowd Orlwr brat C, Longmont CD 80501 Telephone Number 1720) 8414205 Erna! Address kimnasopbiholmna,com Date of Signature and Report May Ie, sooa Effective Date of Appraisal 5/1412005 State Certification # 40022083 or Stale License # or Other (describe) Cearcbd rnreen r State N State CO Expiration Dale of Codification or License ADDRESS OF PROPERTY APPRAISED 640 N Cache Court Oreeky CO 80634 i2(gg(2poe APPRAISED VALUE OF SUBJECT PROPERTY 380,000 LENDER/CLIENT Name Amanda Company Name Elevations Credit Union Company Address 4769 Baseline Road, Bou'der, CO 8Q ID3 Email Address SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature Name Company Name Company Address Telephone Number Email Address Odle of Signature Stale Certification # or State License State Expiration Date on Certification or License SUBJECT PROPERTY O Did not Inspect subject property O Did inspect exterior of subject properly from street Date at inspection COMPARABLE SALES CJ Old not Inspect aaterlar at comparable sales from street CJ Did Inspect exterior of comparable sales from street Date of Inspection Freddie Mac Form 2055 March 2005 Pare 6 al 6 Fannie Mao Form 2055 March 2005 Fpm 2055— ManTOTAL•appralral salldarc try a la code, let.—1AOO'MAM00E JUN-01-2009(M0N) 09:17 P. 007/012 Exterior -D FEATURE I SUBJECT COMPARABLE SALE #4 COMPARABLESALE#5 COMPARABLE SALE#6 Adder's 640 N Cacho Court Greeley, CO 80634 635 N Cache Court Greeley Active Lletba Peaty to SIACd Iliori.mlilliIIIAWlddr Across the street Sale Price S NA. -.'.I otitis! 5 3011000 ioIILlllll'Alit IIINN. u S FtssatotsFEIBI!IT5 Selo PdcetGmss ❑v. Arm S TOR,04 PIA S 144.90 Can lit '''''' ..., S eat 5 sa.N. to sinunYellAi,Tii did oata Souls] lots tlwddllllalnllduhl MIS# 520908 VerOlcalion Soumep) IIi4IA4ndllm (DESCRIPTION County Records VALUE ADJLISTMENTS I OESC:PRIOR +¢) S AOJ$ONlenl DESCRIPTION +J•) S A4)tisOMN DESCRIPTION +I.) 5 A4 Imam Sal; or COlletsb Romano I lIU�......Mi;� f tbtina Pie •1s,Do0 Dale a Salellyre IIUII:liOIIIIIrIIIIIIYII,ttllll Tap I.astNn POWro Rivr Poudro Rigor LeneSoMYTea Simple Foo Simple Foe Sl iDla _ Silt 13.503 SF/Aver 11370 SF/Aver .1,500 View NagroaMoa Nelahbomood !lesion Ail) Two Story/Avg Conlomporery Dually el Camommm Fr:TIMM/Avg hill/Sin/Avg Acis:Ado 2000 2001 Condition Good Good Above Grade Trial IAAIns. Rills TM Mint. OSAs Tout Cans. Bins in Odin. Deis Room Cairn 7 3 ysj,_9 4 .7t5 52,OLIO ryes LMry Neer 2161 son. 265758.0. .3.700 sat sq.a. Maanent et 'YYsl!e0 Roans Below Grads 1.880 SoFt 75% Fmthod 1322 SF Opon +9,000 Funoonal Why Avenge Avcrinc RratBgyCaalrl0 GFAYGAC GFNCAC Em7Ey EIVCkM Oem Tlwnneparna TMsmopenes GamDMCpgm0 3 3 Car Gamga MmlvPsthy➢eck Patio Coati Other Fiepbyoe/$pmkl FlrepkiceeSprNrl SLAPIPPes InclUpanrdea IncitUparadae Nat AdpMmai(Tmd) Lidl!ulldldl4,14Urhlaill (E]+ n- 5 t20JI I I+ I I - 5 11+ I I. 3 Adjuslod Silo Pock N Conparablr PPP iit IIIIPaplet''' IbIBIIUILIPPIIJ1III III Not Apr. 0.3 % tiI pays 004 B.1 I. S 386,200 NM A. % Gude Ad)_ % S Net Atli. Grose % Adj. % S Report Pie roaaY3 or me r owa and marts Nine prior Wear Mom Nelms al to tetra potty end comparable silo Upon additional pt or oaks un pope 3). OEM SUBJECT COMPARABLE SALE #4 COMPARABLE SALE#5 COMPARABLE SALE#6 Gala dl Prior Sab?roIGIM 3/01!2007 None In Pilo dl Pawsaky1Nnsla 387.000 the pest year Oats Sr mcslr) County Records County Records EH Rohs Dm al Data Soumo(s) 5/1412060 ,5/14/2008 Analysis ulprier oak or haslet Yashyy Cl Ow subjttl properly and compivaMt sales tree photos were used for sate #2 end #3. AAPIrl uGWMIeNs Oro Fannie Mae Pane 2055 March 2005 FWrn 2055.1001-1Mn1OTAL- applalsal software py a Lt rlmdq, me. —1-800.ALAMODE JUN-01-2009(MON) 09,18 P.008/012 NO.200836rPa0e M Subject Photo Page 3wPOwtgtdwd OCHSNER Ptwly Mdrwa 640 N Cache Court CIN Grsekry Larder Elevations Credit union 1e r ;R2,- im_u it llill'Pl 04 Coong Wdd hlI1Il',4,1;1 II ICI � II I � F�1P �411h1ll� Illlll��l'kl I ii lls'?rail::I,I;I Silo CO Hp Cot 00636 Subject Front GOD N Cache Court Sala PtIcd NA Gall LM1q Area 2,761 Total Rooms 7 Tavel &drowns 3 TOtg Mau= 3.57 LodatIOI Poudro River View NciChbothood Silc 13,503 SF/Avg 0ua11y FmdSWAvg Ape 2000 Form PIC3dMI-5YInluTAV appraisal anfwam Ly a la mode, Nc.-1-a05ALAMA0E Subject Rear Subject Street JUN-01-2009(M0N) 09:18 P. 009/012 Comparable Photo Page [Rk No ?NUNPage Jell] &Awwee/CLLnt OCHSNER Pommy Addnas 640 N Cacti Court 2,31 Greeley Cmmy Weld Stale CO Tlp Cads 808;14 Lander Elevations Credf Union II I I I �d I I I II;I!w I I �� Ird11L°�P;I�Inll 1_ii, i,Nuod d11m1�y�glpli�l . IL .mil Il . —.rr ,., I� II++ x 6 'hull rj." 11 Ls dial a'�71 id1 ,l lce.t11 U4'9'111; t IOILISl+G b,1.,1.41 ;!I l.npll4"t 111 Ili Ih l'.1!lt r III Illlil .,. _•,f', Iq III III III',:' I,t i I hl Lklhla uJllbIIIJII III Idi'I�;�llll lrtlllll 11llly��l� I1i��Ep�iIIl�Ilil UII IUBi N1�1 -11! grBlm nllj lI P �I II��II Ofr ��INI'�,il�vi�ffl �Igt4,�lglpf! � �l�llidlt�� '>wlar�,GJll 4)" 111 JIBM d'ldl�� II PNV Comparable 1 7316 Po dre River Road Fare a1 Subkat 4 Blocks W rA Sake Poch 438,000 Gross Wes Ama 2.172 Total Booms 7 Tmal&'droons 3 Total Ballmoms 4T location Po, re River Mow Golf Course See 17,424 sf/Avg Owary Brick/Avg Age 2000 Comparable 2 Va N 54th Avenue Prm Is Subject 1-2 miles SE rn/I Saks Rlee 325,000 Gross LMna Area 2,369 Teal Room 7 Total Bnomos 4 Total BaWaeni 2.5 Location Kelly Farm VMw Neighborhood Sllc 10019 sl/Avg Oualry Frm/SINAvg Ae 2004 Comparable 3 227 N 51st Avenue Pro. ID Subkm 1-2 maw SE mil Saw mica 345,000 Grose lMng Area 2,770 Total Paonc 7 Total More 4 Tmal Ballrooms is Locution Kay Fart ykw Neighborhood Slue 10018 SF/Ave Oudlly Frm/SWAvg Apo 2004 Fam PIC34,CB—VArTQTAL" appraisal Whore by a ta mode, mc—1-600ALAMoDE JUN-01-2009(M0N) 09:19 P.010/012 • etit ti06a6�Paue ten) Comparable Photo Page Bormwa(Clw, OCHSNER Property Morels 640 N Cache Court pM Oroolcy county Weld Spin CO Bo Cods 80634 Leoder Ekvaliars Credo tinter, Comparable 4 635 N Cache Coon Prom. to Subject Across the street Sales Price 385,000 Sims BIM Ana 2,657 TOW Dorn 0 Tout Bedroom 4 Total Batlorifitt0 25 L3raVO1 Paudro River Wow Nel9hborhood SIP 11370 SF/Avg 0ualiry FmNSfNAvg Aye 2001 Comparable 5 Pram. to Sobhlr4 Saks Rip: Gum LINN Area Total Rumors Total Bedrooms Toil Bathrooms Ldcallpl New She Gaily Atte Comparable 6 Ptah to Subhtct Sales Price Gags Using area Total Rprrs Total Bedrooms Total Bathrooms Location View Slle Quirlty Apo Form PC75.CR—111MOTA1' aopraisal software by e k node, loo.-1-I88-ALAh970E JUN-01-2009(N0N) 09;19 • Location Ma P.011/012 BmnrxeiClIent OCHSNER • Prupet Mdrtac 1740 N Cache Coal City Creaky Cmlmy Weld Atm Co 8p Calm 80034 Ladcr Devotions Credh Union a la mode, inc: n..rwrnrwlr t :III' I I I'L•III •••,•.11,I:, - l.11i r IIII .. Li I��jv, , 1 cenllo l I I II,�+all v Win: ,' fiwn, <hn t.anre I�,'f III l'' I Cmup.Ir.Ibi,. e 741fi huWU. River Anal Comparable n 4 635 N Cache Court i• i III '1 U'I ion,• I 'I'll "I i• Iri 1!LJs�ly; I 1 I' i, rrti1 7rt;jl 'JA'I PI N glllllhiElll� I 1 �P:tli11 IliPllllll IPA e,"- r A f,lfw nv —F rr'I', I rwdws !Jumper able a 3 , 227 N 51',t Avenue cUglu,lr:,tile M ^^4 IN 'Atli Avenue Iti• wt. / Iyr 1" 14,:wt rr u n it:[-•:- Wwe 7 a w,w m • .. woish. F:. g Ills IP;' 7�e f, I ua 1 I w..4 hI IAI A. h, 4.17,„,,,I lT"`v 771)17•131t77 t i ,■■ I ti,/II Ir' a. 1 L:! C r l vi WIMR Gyr000. MIM'W..II tw. 7 P ..i, L J.r g ., ; � s J l� III IIII °L N cm 4=1 77 Iy��4iI�A{ = ,-,4 — ;Pik It 11J I I:ue'rpllpi�. a Iii r wNl�I".II,I gu° It°� O R A WELD eYi] -w1r.31- -4- Ramie C f �nl,IIsrn k73,. t w 1 r. I I I I 1 I�I'I l wlln rte-- Mar ^ a' I I •• form MPPi0C—'Mfl01AL'aparalaei eonwva inn lame, Inc. —1. ALW400E JUN-01-2009(NON) 09:20 P. 012/012 Inlarauouaallaainl Kimberly Alsop 7rnfessional rtngnoiatinna Certified Residential..Appraieey Colorado 1140022983 I:icensod Colorado pallor DI00000069 Psrifixaalonal Experience - AltopltcdEotate Ventures; in; AppmiserlOwaec2006-Current Wyatt Group Rcslty, Licenscd'Rraltor2005 Current. Chaz tMirarsal Services lis, Staff appraiser -.200I4006 Educational Baekeroond aerie Appraisal Priociplesand Procedures • Basic Apptaisal.Applimdians: Residential Case Study. "Fm&ssicaal Standards nod Ethics" Reside:4dSalaCompialsai Approach Rpidmelyd la ome Approadi FBA Certified Assisted and/or Performed Agora 'oak Tort Bancwiise Capital Advantage Mongsgo Clive Mathatmo Mortgage Clarion Manage Community First blangal;c Comemtaac'Mertgagc Ditech.wm Evecgeen.Mortgagc -Fits[ Funodlug. '- First National Minicar Colorado FNB Mortgage ZMeeciom Laidiag GMAC Montage Grecnco Financial Premier Mongagc Group Eleandons.(roditilnion Vccon Beak -- Walul a!d Fi,amchd Feint SCA— nnnitnal•sopralsal smware by a is mode, Inc, — l -E .AUAMaDE *** INVOICE *** KIDD & KIDD APPRAISALS 1442 WINFIELD DRIVE FORT COLLINS CO 80526 Invoice #: Date Invoiced: 02/21/2007 Terms: Date Due: ASAP 30 DAYS MAX To: FRONT RANGE MORTGAGE 1600 W 1ST STREET Bon'OWCr: LONNIE OCHSNER For Property located at: 640 N CACHE COURT GREELEY CO 80634 Fee: $ 350 Please remit payment to: Invoice #: File #: OCHSNER Total Amount Due: Remittance Copy KIDD & KIDD APPRAISALS 1442 WINFIELD DRIVE FORT COLLINS CO 80526 $ 350 Amount Remitted (if different) $ KIDD & KIDD APPRAISALS OCHSNER KIDD & KIDD APPRAISALS APPRAISAL OF A SINGLE FAMILY RESIDENCE LOCATION :640 N CACHE COURT GREELEY CLIENT :FRONT RANGE MORTGAGE 1600 W 1ST STREET AS OF DATE :02/20/2007 APPRAISER :BOB KIDD CO 80634 KIDD & KIDD APPRAISALS a FannieMae Uniform Residential Appraisal Report File# OCHSNER The purpo e 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. property Addres 640 N CACHE COURT city GREELEY state CO Tin Code 80634 Dorrower LONNIE OCHSNER Owner of Public Record ROBFRTDUPPER County WELD J egal ❑esrriptic, GR 1 PRR LI PUD IC POUDRE R RANCH 1ST FG SITUS: 640 CA CT GREELEY 80634 Assessor's Parcel# 80533306001 Tax Year 2005 Neigbnnrhor,d �ame P()IVER RANCH VISTAS Man Reference RAND lIC�ALLY Census Tract 1401 W IXI I TJDRF ji Te am � Occupant Owner Vacagt sfeeiel Asse sat tss NONE KNO X POD VOA I led?' Property Rights Ap I r tf, ftcfinnncr Transaction 1 Simple R F Taxes S J ocation One -Unit 80 a!a 0 Anilt-rip a.4tlnit 20/, SGrowth Multi -Family 2 X Neighborhood Pmt daries 83RD AVENUE TO THE WFST N66TH AVE TO THE EAST HIGHWAY 34 Commercial 1 t pop TO THE SOUTH AND C AND S RAILROAD TO THE NORTH Other I S 0 Neighborhood Description SUBJECT IS LOCATED TN POUDRE RIVER RANCH SUBDIVISION NORTH OF HIGHWAY 34 IN A @ NEIGHBORHOOD OF GOOD QUALITY SINGLE FAMILY HOMES. SUBJECT PROPERTY IS CLOSE TO SHOPPING, SCHOOLS, Z EMPLOYMENT, ALL SUPPORT FACILITIES , INTERSTATE AND IT CONFORMS TO SURROUNDING AREA. Market Conditions (including support for the above conclusions) PROPERTY VALUES APPEAR TO BF RELATIVELY STABLE AFTER INCREASING STEADILY INTRFST RATES ALSO REMAIN STEADY . MARKETING TIME IN SUBJECT AREA IS I FSS THAN 180 DAYS. SELLER CONCESSIONS ARE TYPICAL. SUBJECT AREA IS STILL GROWING AND LOOKS TO CONTINUE. N A5aienment Tvoc Other (describe) 2,700 150 I X I aer v— r I Iner month J ender/C6ent FRONT RANGE MORTGAGE Address 1600 W 1ST STREET LOVELAND CO 80537 Is the stabler, nrnnerty rnrrently offered for sale or has it Is e ((creel for sale in the twelve months prior to the effective dye nfthia appraisal' Jtrnort data source(s) used offering nrice(sh and date(s). SUBJECT WAS LISTED ON THE MLS FOR $405,000 AND WAS LISTED FOR 141 DAYS. IX Ives I INn I I^Idid LI did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was not performed STANDARD CONTRACT Contract Price 397,000 Date of Contract 1/25/2007 Is the property seller the owner of Public record' X Yrs No Data Sourre(s) PUBLIC REC ��j Z Js there any financial assistance (loan charges sale ennress' ins g'ft or downnavment assistance etc lin hr paid by any party on hrhalfof the borrower' I Yes tblNo O q If Yos-report thctolal dollar amount and describe the items to be paid Jenne• Rare and the racial rmmonartinn of the neiahhnrhnnd a e nor annralwl fartorc Nei hborhood "haracterislles One -Unit Hon' Trends X m rep s X� In Balance One -Unit IIoucinn Present Land Use % Urban Over 7s Rapid X Suburban 't S-75 Stable Dimensions SURVEY NOT PROVIDED Specific Zoning Class ee,don R-) RESIDENTIAI. 7 ningFese[iprnn R -I J(F1SIDENTIAL 7onina Compliance X I real I I Legal Nonconforming (Grandfathered Ilse) INo 7onine I Illegal (describe) Js the highest and best use of the subiect property as improved (or as Proposed per plans and specifications) the present use' Rural Under 555/ Slow Property Valises Demand/Supply Marketing Time Increasing Shortage tinder mths X 3-6 mths Declining Over 6 mth5 PRICE AGF sroo01 first 250 Jow N 600+ High 15 350 Pred 5 Area 13,503 SF. Shane IRREGULAR View RESIDENTIAL IXIYrs I I No If No describe Utilities Pyhtc O ltgr(describe) �_ Electricity X I 1 N Gas X Water Sanitary Sewer Ppbl c Ohe (describe) X X Off -site Improvements —Type Pybl Private Street ASPHALT Alley X FFMA Special Flood Haaard Area I IYes IX INn FEMA Flood LW—Sr one r FFMA M # 080266060SD FFMA Map ❑ 09/27/1991 Are the nlitilies and off -silt improvements typical for the market area9 XYes No If No describe Are there any adverse site conditions or external factors (easements encroachments environmental conditions land uses etc 19 I IYes IX I No If Yrs describe to Jlnirc IXiOne ISCRIPTION nn,. with Accessory II -r X FOUN �j'ION nerete Slab Crawl Spare Partial Basement EXTERIOR DESCRIPTION materials/conditlo Foundation Wang CONCRETE Exterior walls FRAME/STONE Roof Surface COMPOSITE nnnrrs w 0ownsnena PT.METAL Window Tyne DPW Storm Sash/I adated YE. Screens YES Fi of Sto ie 'Tvo Xlret IX [Existing Dtsien(stvle) 2 STORY YearRnilt 2000 Eff ctive Age (Yrs) 2YRS Aue TAB. I I Prn sed 2 Full Basement -Del /End Un Bas mete Area 1.880 to ft rToiler Con« 9 Finish 50 oh S meat None Dron Stair Floor X Stairs Scuttle t as IONside F try Exit I 'SHAWN= e of I I nfe 'ration vtJ Dampness Settlement I' Oth r Fuel NGAS coo JXI nine Finished Z Appliances W finished area shove oracle enNltinsl 8 Rc me 3 Bedrooms OAdditional features (special energy efficient items etc 3 SEE ADDENDUM Herne IX I Refngerator X I Range/wen ing Central fir Sondit' tndivibul Otter X Dishwasher X Disnosal X X INTERIOR materials/condition Floors CRPT/WOOD/TILE/GOOD walls PT.DRYWALL/GOOD Trim/Finish ST WOOD/GOOD R h Floor TILE/GOOD Bath Wainscot CTILE/GOOD Wood Stoves) Fircplace(s) It 1 Patio/Deck P nl XIMicrowave I XIW asher/Dryer X Fence Porch Other ar }toragr X Driveway # of Cara 3 Dri eves" Surface CONCRETE X Garage No ofears 3 I IN. - Carport Ns of Cars X Art I Drt lOther (describe) IR, lr-in 2 50 Hath{s) 2 817 Sri in Fee owns i'gA aAh •C d fDescribe the condition of the oronerty (including needed repairs.deteriorationrenovations remodeling. etc 1 NO PHYSICAL FUNCTIONAL OR EXTERNAL DEPRECIATION WAS NOTED DURING INSPECTION. NO REPAIR NEEDS WERE NOTED. CONSTRUCTION QUALITY IS STANDARD. A h y phy ' I d f ' d d' ' that affect the livahility soundness or structural integrity of the property' I I Yes IXINn If Yes describe .Oprc the properly gene ally f t th 'ghh h d (f t' I t'i't tyl d'i nsr construction rte 19 IX 'Yrs I INn If No describe Freddie Mac Form 70 March 2005 KIDD & KIDD APPRAISALS Page I of 6 Fannie Mac Form 1004 March 2005 Powered 6y aq]EaI5a .cc n pratjIed X Fee Si.up Ili (cl X 'Purchase Transaction I I X Stable Over Supgi GENERA D Uniform Residential Appraisal Report File# OCHSNER There are 13 comparable properties currently offered for sa(R„jn the subject nciehborhood ranging in price from S There arc 10 comparable sales in the subject neighborhood within the past twelve months ranging in sale price from S FEATURE SUBJECT COMPARABLE SALE # 1 Address 640 N CACHE COURT GREELEY prohjmity to Subject Sale Pri Sale Price/Gross Li v. Are Pala Source(sl Verification Snurrr(sl VALUE ADJUSTMENTS Sale or Financing Concessions Patent' Salerfi location Leasehold/Fee Simple Site View Design (Style) ouatity of Construction Actual Age Condition c 397.00(, 140.90 so ft DESCRIPTION 7604 PLATEAU ROAD GREFI FY 0.3 MILES 505.000 350,000 to s 350,000 to S 510,000 510,000. COMPARABLE SALE #2 COMPARABLE SALE #3 7728 POUDRE RIVER ROAD 402 N BRISBANE AVENUE (iREFI.FY .S F.ELEY 0.4 MILES 0.3 MILES S 375 000_ 390-000 180.10 saA s 196.10 sq. ft �g 129.50 sg'. , I PUBLIC RECORDS PUBLIC RECORDS PUBLIC RECORDS MLS/ STREET IN PECTION MLS/ STREET INSPECTION MLS/ STREET INSPECTION DESCRIPTION (-1S Adjustment DESCRIPTION t(-) S Adjustment DESCRIPTION f-1 S Adjustment CONY ARM NONE KNOWN 06/07/2006 SUBURBAN SUBURBAN FEE SIMPLE 13.503 SF. FEE SIMPLE 9.757 SF RESIDENTIAL RESIDENTIAL STORY 2 STORY GOOD SUPERIOR -25,000 7YRS 2YRS GOOD GOOD CONV FIX NONE KNOWN 07/28/2006 SUBURBAN FEE SIMPLE 10.018 SF RESIDENTIAL RANCH GOOD 5YRS GOOD CONV FIX NONE KNOWN 02/12/2007 SUBURBAN FEE SIMPLE 10 851 SF RESIDENTIAL 2 STORY GOOD 13YRS GOOD Total IBdrms,l Baths Above Grade Room Count Gross Living Area Basement & Finished Qj;goms Below Grade O punetional Ittility ajieatina/Cooline Energy Efficient Items Z fiaragr/Carpnrt yPorch/Patio/Deck it a 2 O V N ai Adjusted Sale Price J < ofCotnoarabics U) Total Bdrms l Baths Total 3 2 50 7 Bdrms .I Baths 2.5 2,817 sq. R. 2,804 sa n. 1880 SF. 50% FINISHED 1,887 SF. UNFINISHED GOOD GOOD GFA/CAC GFA/CAC STANDARD STANDARD 3/ATTACHED 3/ATTACHED PORCH/PATIO PORCH/DECK -8,000 16,920 Total 7 Bdrms 3 Baths 1,912 sa.ft 1,912 SF. 75% FINISHED GOOD GFA/CAC STANDARD 3/ATTACHED PORCH/PATIO 2.000 9 3 2.5 45,250 3,012 so, ft 1,992 SF. -8,892 50% FINISHED GOOD GFA/CAC STANDARD 0 3/ATTACHED PORCH/PATIO -9 750 Net Adjustment ITotall X n Xl_ -56.080 n+ 38.358 IXI. -9.750 Net Adj. -11.10% Net Adj. 10.20 % _Gross Adi. 16.20 % S 448,920IGross Adi. 15 % Net Adj. -2.50 % S 413,358 Gross Adi. 2.50 % s 380,250 yty rrsearrtl Idid I A rIid not reveal any prior sales nr transfers of the anhject property for the three years prier rn the effective rinse of this appraisal Data source( PUBLIC RECORDS My rescarc did I X Idid not reveal any prior sales or transfers of the comparable sales for the year orior to the date of sale of the comparable sale. fists source(s) PUBLIC RECORDS court the results 01 tpejesearcn ang analysis or ins prior sate or transfer ntsior, of the suotect property ano comnaranlc sates trepan aaottionat prior sales on lave 31 1TFM St IRIFCT Cf]MPARARI F SAL F# 1 CfIMPARARI F SAI F a g f'tlMPAR A Rt F CAI F it 1 Date of Prior Salc(fransfer NO SALE [N LAST 3 YRS NO SALE IN LAST YEAR NO SALE IN LAST YEAR NO SALE IN LAST YE Price of P1iocSalrnTrvis(ft Data Sog c(sl PUBLIC RECORDS PUBLIC RECORDS PUBLIC RECORDS PUBLIC RECORDS fiffcctive Date of Data Sounds) Analysis of nrinr sale or transfer history of the s, hiert on -inert,. and comnarahlr soles NO PRIOR LISTINGS OR SALES HISTORY FOR THE SUBJECT IN THE LAST 3 YEARS AND COMPARABLES IN THE LAST YEAR OTHER THAN REPORTED. Summary of Sales Comparison Approach SEE ADDENDUM 410 000 Jndleated Value hyc Sales Comparison Approach S 410.000 [Cost spproaeh (if developed) 401.200 Income Approach (if developed) This appraisalrLulade lxi "as is", L__.J subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed, Litubject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or subject to the following required inspection based on thcextraordinary assumption that thesnndttjon otdeficicnc _does not teauire alteration or repair: Based on a complete visual inspection of the interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limiting conditions, and appraiser's certification, my (our) opinion of the market value, as defined, of the real property that is the subject of this report Is 41 000 0 /21/2007 Freddie Mac Form 70 March 2005 Page 2 of 6 Fannie Mae Form 1004 March 2005 Uniform Residential Appraisal Report File It OCHSNER in l - z w i 2 0 O J d z 0 0 4 COST APPROACH TO VAI,TIF. (not required by Fannie Mae) Provide adequate information for the lender/client to reolicate your cost (inures and calculations. Support for the npininn of site value (summary of enmparahie land sales nr other methnrls for estimating cite value SALES COMPARISON AND ALLOCATION PROCEDURE WAS USED TO DETERMINE SITE VALUE. UFCTIMATFf] 1 IRFPRtIDIWTIf1N(1R IX IRFPI A(FMFNTCf1CT NEW nenstinsl CIF SITFVAI I IF =S 90.000 a0 Source of cost data MARSHALL AND SWIFT/LOCAL BUILDERS Dwetlin 2,817 Sa Ft. (1 70.50 ____ ____ = S 198,598.50 aQuality rating from cost service GOOD Fffertive date of cost data 2007 BSMN 1.880 Sri Fi O 28.70 =s 5a.956 a. comments on Cost Approach (grosslivinnareacalculations .denrcciation.etc.l FLRCOV/EOUIP/CAC/LSS/CVP/PAT/ 20,000 THE. REPLACEMENT COST IS BASED (?N MARSHALL ANT) f Arage/eamnrt 753.40cg Ft 22 = c 16,574.80 NO SWIFT COST SERVICE. SUPPLEMENTED BY THE APPRAISERS Total FatimatrofCnst-New = S 289.129.30 U KNOWLEDGE OF THE LOCAL MARKET. PHYSICAL I ess Physical IFagupnyt IFxtemal DEPRECIATION WAS DETERMINED BY USE OF THE AGE -LIFE METHOD. SITE VALUE IS ES (MAT .D FROM AREA LAND Denreciatinn 2,891.301 I = S( 2,891.30_1 286.238 SALES AND LISTINGS_REMAINLNGECONOMIC LIFE OF Depneriatrdrnstnftmprnvements = S SUBJECT IS ESTIMATED TO BE 40+ YEARS. "As Is" Value of Site improvements _ S 25,000 Estimated Remaining Feonnmie I ife UfUD and VA nnlyl NA Year INIIICATF.T) VAI 11F RV CAST APPROACH .... .... - = S 401,200 INCOME APPROACH TO VALUE (not required by Fannie Mae Estimated Monthly Market Rent X Gross Rent Multiolic =S Indicated Value by Income Annroach 0 zSummary of harms Approach I including support for market rent and GR M1 MTh PROJFCT TNECAlarATIiiNiFOR MTh (if a ahle) is the developer/builder in control of the Homeowners' Association (HOAI? I I Yes I XI No Unit tvoe(s) I X Detached I (Attached provide the fnllnsving information for PI IDs Mil Y if lltedeve1nper/huilder is in control of he Iff1A and the suhf ert property is an attnehed dwelling unit Leval Name of nroiect Total number of nhascs Total number of units Total number of units sold Z 0 Total number of units rented Total number of nni's for sal& Data Snureelsl �I the nroiect created by the conversion of existing buArtis) in PUD? Yes 1 INo If Yes. date of conversion xWas Apes the contain any multi -dwelling units" I I Yes nr Cnurrr(s1 project 0 Are the units common elements_ and recreation facilities comnlete? Yes �ll No If No. describe status of completion. z 0 0 I1 lL Arc the common elements leased to or by the Homeowners' Association? I lYcs 1 INo If Yes, describe the rental terms and options. Jlesrrihe rnmmnn elements and reereatinnal facilities Freddie Mac Form 70 March 2005 Page 3 of 6 Fannie Mae Form 1004 March 2005 Uniform Residential Appraisal Report Fi1ea OCHSNER 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 VALU 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 i 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. Freddie Mac Form 70 March 2005 Page 4 of 6 Fannie Mae Form 1004 March 2005 Uniform Residential Appraisal Report Filen OCHSNER APPRAISER'S CERTIFICATION: The Appraiser cetifies 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. 1 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 sales 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. Freddie Mac Form 70 March 2005 Page 5 of 6 Fannie Mac Form 1004 March 2005 Uniform Residential Appraisal Report File p OCHSNER 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: I. 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, opinion 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 Signature /f�/a:1Nam BOB KIDD �✓ Company Name KIDD & KIDD APPRAISALS Company Address 1442 WINFIELD DRIVE FT. COLLINS, CO. 80526 Telephone Number 49,3-9396 Email Address KIDDAPPRAISALS(6?YAHOO.COM Date of Signature and Report 02/21/2007 Effective Date of Appraisal 02/20/2007 State Certification or State License # AL4001 S465 or Other (describe) State p State S]GIORADO Expiration Date of Certification or License 12/31/2007 ADDRESS OF PROPERTY APPRAISED 640 N CACHE COURT GREELEY CO 80614 APPRAISED VALUE OF SUBJECT PROPERTY S LENDER/CLIENT Name Company Name FRONT RANGE MORTGAGE Company Address 1600 W 1ST STREET LOVELAND CO 80537 Email Addres SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature Name Company Name Company Address Telephone Number Email Address Date of Signature State Certification 4 or State License N State Expiration Date of Certification or License SUBJECT IROPERTY Did not inspect subject property Did inspect exterior of subject property from street Date of Inspection 412 000 [Xi Did inspect interior and exterior of subject property Date of lnspection RIPARABLE SALES Did not inspect exterior of comparable sales from street Did inspect exterior of comparable sales from street Date of Inspection Freddie Mac Form 70 March 2005 Page 6 of 6 Fannie Mae Form 1004 March 2005 TEXT ADDENDUM File No. OCHSNER Borrower: LONNIE OCHSNER Property Address: 640 N CACHE COURT City: GREELEY State: CO Lender: FRONT RANGE MORTGAGE County: WELD Zip Code: 80634 Additional features (special enerev efficient items. etc.): SUBJECT HAS BULL NOSE CORNERS, BUILT IN MICROWAVE, COFFERED CEILINGS, HARDWOOD FLOORS, SOLID WOOD DOORS, MAPLE CABINETS, SKYLIGHTS IN BATH, CENTRAL AIR CONDITIONING, LAWN SPRINKLER SYSTEM, COVRED PORCH, PATIO, PROFESSIOINALLY LANDSCAPED AND IS THE CORNER LOT THE THE CUL-DE-SAC. Comments on Sales Comparison SUBJECT AND ALL SALES ARE LOCATED IN THE SAME SUBDIVISION OR SIMILAR SUBDIVISIONS AND COMPETE FOR THE SAME STRATA OF MARKET. ALL OF THE ABOVE ARE VERY SIMILAR IN MOST ALL ASPECTS. THIS INCLUDES BUT NOT LIMITED TO AGE, SIZE, CONDITION, UTILITY, QUALITY AND APPEAL. COMPARABLE #1 IS ADJUSTED FOR A SUPERIOR QUALITY OF CONSTRUCTION. APPRAISER ALSO REALIZES COMPARABLE #1 HAS A LARGE ADJUSTMENT FOR EXTRAS BUT THIS IS DUE TO COMPARABLE #1 HAVING GRANITE COUNTERTOPS THROUGHOUT, WALNUT FLOORS, FIREPLACE IN MASTER, AND OVERALL HIGHER QUALITY OF APPLIANCES AND EQUIPMENT. FEW ADJUSTMENTS ARE REQUIRED DUE TO SIMILARITY OF SUBJECT AND ALL SALES. ALL ADJUSTMENTS ARE COMMON FOR AREA AS IS SUBJECT AND ALL SALES. SUBJECT IS BRACKETED IN MOST ALL AREAS. EQUAL WEIGHT IS GIVEN TO ALL SALES IN FINAL VALUE ESTIMATE. ENVIRONMENTAL ADDENDUM File No. OCHSNER APPARENT* HAZARDOUS SUBSTANCES AND/OR DETRIMENTAL ENVIRONMENTAL CONDITIONS Borrower/Client LONNIE OCHSNER Address 640 N CACHE COURT City GREET EY County WELD Lender/Client FRONT RANGE MORTGAGE State CO Zip Code 80634 *Apparent is defined as that which is visible, obvious, evident or manifest to the appraiser. This universal Environmental Addendum is for use with any real estate appraisal. Only the statements which have been checked by the appraiser apply to the property being appraised. This addendum reports the results of the appraiser's routing inspection of and inquiries about the subject property and its surrounding area. It also states what assumptions were made about the existence (or nonexistence) of any hazardous substances and/or detrimental environmental conditi The appraiser is not an expert environmental inspectand therefore might be unaware of existing hazardous substances and/or detrimental environmental conditions which may have a negative effect on the safety and value of the property. It is possible that tests and inspections made by a qualified environmental inspector would reveal the existence of hazardous materials and/or detrimental environmental conditions on or around the property that would negatively affect its safety and value. I-",�I LLl ❑ ❑ X Comments DRINKING WATER Drinking Water is supplied to the subject from a municipal water supply which is considered safe. However the only way to be absolutely certain that the water meets published standards is to have it tested at all discharge points. Drinking Water is supplied by a well or other non -municipal source. It is recommended that tests be made to be certain that the property is supplied with adequate pure water. Lead can get into drinking water from its source, the pipes, at all discharge points, plumbing fixtures and/or appliances. The only way to be certain that w FR Comments SANITARY WASTE DISPOSAL Sanitary Waste is removed from the property by a municipal sewer system. X I',' idl Comments SOIL CONTAMINANTS There are no apparent signs of Soil Contaminants on or near the subject property (except as reported in Comments below). It is possible that research, inspection and testing by a qualified environmental inspector would reveal existing and/or potential hazardous substances and/or detrimental environmental ❑ X Comments ASBESTOS All or part of the improvements were constructed before 1979 when Asbestos was a common buiding material. The only way to be certain that the proper �`,I PCBs (POLYCHLORINATED BIPHENYLS) 12J There were no apparent leaking flourescent light ballasts, capacitors or transformers anywhere on or nearby the property (except as reported in Comment below). fl There was no apparent visible or documented evidence known to the appraiser of soil or groundwater contamination from PCBs anywhere on the propert (except as reported in Comments below). X The value estimated in this appraisal is based on the assumption that there are no uncontained PCBs on or nearby the property. Comments Comments X X ❑X RADON The appraiser is not aware of any Radon tests made on the subject property within the past 12 months (except as reported in Comments below). The appraiser is not aware of any indication that the local water supplies have been found to have elevated levels of Radon or Radium. The appraiser is not aware of any nearby properties (except as reported in Comments below) that were or currently are used for uranium, thorium or radio extraction or phosphate processing. The value estimated in this appraisal is based on the assumption that the Radon level is at or below EPA recommended levels. Day One Forms for windows, 1998 1 8Do-GET-DAYI KIDD & KIDD APPRAISALS Page 1 of 2 X X '.,I Lx] X Comments USTs (UNDERGROUND STORAGE TANKS) There is no apparent visible or documented evidence known to the appraiser of any USTs on the property nor any known historical use of the property I [Xi tdi I -,' 131 Comments NEARBY HAZARDOUS WASTE SITES There are no apparent Hazardous Waste Sites on the subject property or nearby the subject property (except as reported in Comments below). Hazardous Waste Site search by a trained environmental engineer may determine that there is one or more Hazardous Waste Sites on or in the area of the subject property. The value estimated in this appraisal is based on the assumption that there are no Hazardous Waste Sites on or nearby the subject prope negatively affect the value or safety of the property. ❑ X .x. Comments UREA FORMALDEHYDE (UFFI) INSULATION All or part of the improvements were constructed before 1982 when UREA foam insulation was a common building material. The only way to be certain ❑ X Comments LEAD PAINT All or part of the improvements were constructed before 1980 when Lead Paint was a common building material. There is no apparent visible or known documented evidence of peeling or flaking Lcad Paint on the floors, walls or ceilings (except as reported in Comments below). The only way to be certain X X Comments AIR POLLUTION There are no apparent signs of Air Pollution at the time of the inspection nor were any reported (except as reported in Comments below). The only way be certain that the air is free of pollution is to have it tested. The value estimated in this appraisal is based on the assumption that the property is free of Air Pollution. X X Comments VVETLANDS/FLOOD PLAINS The site does not contain any apparent Wetlands/Flood Plains (except as reported in Comments below). The only way to be certain that the site is free o Wetlands/Flood Plains is to have it inspected by a qualified environmental inspector. The value estimated in this appraisal is based on the assumption that there are no Wetlands/Flood Plains on the property (except as repor Comments below). 131 [xi There indicated MISCELLANEOUS ENVIRONMENTAL HAZARDS are no other apparent miscellaneous hazardous substances and/or detrimental environmental conditions on or in the area of the site except as below: Excess Noise Radiation + Electromagnetic Radiation Light Pollution Waste Heat _ Acid Mine Drainage Agricultural Pollution Geological Hazards Nearby Hazardous Property Infectious Medical Wastes Pesticides Others (Chemical Storage + Storage Drums, Pipelines, etc.) XIThe value estimated in this appraisal is based on the assumption that there are no Miscellaneous Environmental Hazards (except those r above) that would negatively affect the value of the property. When any of the environmental assumptions made in this addendum are not correct, the estimated value in this appraisal may not be valid Day One Forms for Windows, 1998 1 KM -GET -DAY I Page 2 of 2 Borrower LONNIE OCHSNER File No. OCHSNER Property Address 640 N CACHE COURT City GREELEY County WELD State CO Zip Code 80634 Lender FRONT RANGE MORTGAGE APPRAISAL AND REPORT IDENTIFICATION This Appraisal conforms to one of the following definitions: X Complete Appraisal (The act or process of estimating value, or an estimate of value, performed without invoking the Departure Rule.) Limited Appraisal (The act or process of estimating value, or an estimation of value, performed under and resulting from invoking the Departure Rule.) This Report is one of the following types: ❑ Self Contained (A written report prepared under Standards Rule 2-2(a) of a complete or limited appraisal performed under STANDARD 1.) X Summary (A written report prepared under Standards Rule 2-2(b) of a complete or limited appraisal performed under STANDARD 1.) ❑ Restricted (A written report prepared under Standards Rule 2-2(c) of a complete or limited appraisal performed under STANDARD 1 for client use only.) Comments on Standards Rule 2-3 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 professional analyses, opinions and conclusions. * I have no present or prospective interest in the property that is the subject of this report, and no personal interest with respect to the parties involved. * I have no bias with respect to the property that is the subject of this report or 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 reporting 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 occurence 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 X have ❑ have not made a personal inspection of the property that is the subject of this report. Comments on Appraisal and Report Identification Note any departures from Standards Rules 1-2, 1-3, 1-4, plus any USPAP-related issues requiring disclosure: APPRAISER: Signature: Name: BOB Date Signed: 02/21/2007 State Certification #: or State License #: AL400 t 5465 State: COLORADO Expiration Date of Certification or License: 12/31/2007 SUPERVISORY APPRAISER (only if required): Signature: Name: Date Signed: State Certification #: or State License #: State: Expiration Date of Certification or License: ❑ Did rl Did Not Inspect Property KIDD 8 KIDD APPRAISALS SUBJECT PHOTOGRAPH ADDENDUM OCRSNER Borrower LONNIE OCHSNER Property Address 640 N CACHE COURT City OREELEY Lender FRONTRANGE MORTGAGF county WELD State CO lip Code 80634 FRONT OF SUBJECT PROPERTY REAR OF SUBJECT PROPERTY STREET SCENE KIDD & KIDD APPRAISALS Borrower LONNIE OCH NFR Property Address 640 N CACHE COURT City GREET EY County Lender FRONT RANGE MORTGAGE ADDITIONAL PHOTOGRAPH ADDENDUM OCHSNER Burrower LONNIE OCHSNER Property Address 640 N CACHE COURT City GREET FY County WET Lender FRONT RANGE MORTGAGE State CO lip Code 80634 MASTER BEDROOM KIDD & KIDD APPRAISALS COMPARABLES PHOTOGRAPH ADDENDUM OCHSNER Borrower LONNIE OCHSNER Property Address 640 N CACHE COURT City GREELEY Lender FRONT RANGE MORTGAGE County WELD State CO lip Code 80634 COMPARABLE SALE # 1 7604 PLATEAU ROAD GREELEY Date of Sale : 06/07/2006 Sale Price : 505,000 Sq. Ft. : 2,804 $ / Sq. Ft. : 180.10 COMPARABLE SALE # 2 7728 POUDRE RIVER ROAD GREELEY Date of Sale : 07/28/2006 Sale Price : 375,000 Sq. Ft. : 1,912 $ / Sq. Ft. : 196.10 COMPARABLE SALE # 3 402 N BRISBANE AVENUE GREELEY Date of Sale : 02/12/2007 Sale Price : 390,000 Sq. Ft. : 3,012 $ / Sq. Ft. : 129.50 KIDD & KIDD APPRAISALS SKETCH ADDENDUM File No: OCHSNER Borrower I Client LONNIE OCHSNER Property Address 640 N CACHE COURT City GREFLFY County WFLD State CO Zip Code 80634 Lender FRONT RANGE MORTGAGE 42.0' 15.0' 11.8' FIRST FLOOR 15.0' 1/2 BATH LAUNDRY 6.0' 21 .0' SECOND FLOOR 18.0' 18.0' 16.0' LOFT 16.0' 22.6' BED OFFICE BATH BED 18.0' 46.6' SKETCH CALCULATIONS Area Al: 15.0x5.0= 75.0 A2: 15.0x2.0= 30.0 A3 : 49.0 x 21.0 = 1029.0 A4 : 55.0 x 7.0 = 385.0 A5 : 33.2 x 9.0 = 298.8 A6:26.2x2.0= 52.4 A7:11.8x1.0= 11.8 First Floor 1882.0 I i Al A2 A3 AO A5 t 10 A7 A8 : 18.0 x 18.0 = 324.0 A9:34.0x6.0= 204.0 A10 : 18.0 x 22.6 = 406.8 Second Floor 934.8 AB I A3 A10 Total Living Area 2816.8 Al 1 : 33.8 x 21.0 = 709.8 Al2 : 21.8 x 2.0 = 43.6 Attached Garage 753.4 A11 ��- Total Garage Area 753.4 KIDD & KIDD APPRAISALS Hello