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Home My WebLink About20091963.tiffittH �1w 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 NEUDECK ALEXANDER J & 8961 LLAMA LN WINDSOR, CO 80550 RE: THE BOARD OF EQUALIZATION, 2009, WELD COUNTY, COLORADO - STIPULATE PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE DESCRIPTION OF PROPERTY: ACCOUNT #: R0135288 PARCEL #: 080709000017 - PH -4 L4 PFERD HIMMEL PUD SITUS: 8961 LLAMA LN WELD 80550 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 $606,354 $560,000 2009-1963 AS0073 CCI, 4c, c4 owl adoet NEUDECK ALEXANDER J & - R0135288 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 2009-1963 AS0073 JUL-28-2009 TUE 32:38 PM COCHRAN FREUND & YOUNG FAX NO. 9704921101 07/28/2009 14:28 FAX 0703048435 WELDCOUNTYASSESSOR P. 02 2 002/003 2009 COUNTY BOARD OF EQUALIZATION • WEIA.COUNTY ASSESSOR'S ACCOUNT NUMBER R0135288 STIPULATION (As To Tax Year 2009 Actual Value) RE PETITION OF: NAME: NEUDECK ALEXANDER J &. 8961 LLAMA LN I WINDSOR CO 80550 Petitioner(s), NEUDECK ALEXANDER J & 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 thiti Stipulation. Petitioner(s) and the Assessor agree and stipulate as follows: 1. The property subject to this Stipulation Is described as: PH -4 L4 PFERD HIMMEL PUD, SITUS: 8961 LLAMA LN WELD 80550 2. The subject property Is classified as Residential property III 3. The County Assessor originally assigned the following actual value to the subject property for 2009. I I LAND: I $248.140 I IMPROVEMENTS: $358.214 f TOTAL: $806.354 I 4. After further review and negotiation, the petitioners) and Weld, County Assessor agree to the following actual value far the subject property. LAND: $248,140 IMPROVEMENTS: $311.860 TOTAL: $580,000 5. The valuations, as established above, shall be binding only with respect'to tax year 2009. 2009-1963 JUL-28-2009 TUE 02:38 PM COCHRAN FREUND & YOUNG FAX NO. 9704921101 • 07/28/2000 14:28 FAX 0703048433 WELDCOVNTYASSESSOR I I 6.13rief narrative as to why the reduction was made: I Value was adjusted based upon the general market prices per sq. ft that were in place In the base period. I i III 7. Both parties agree that the hearing scheduled before the Weld County Board of Equalization on 7/29/2009 at 3:00 PM be vacated. DATED this 28 day of July, 2009. A -- one s) or Attorney Address: 161..1.l4iwJ•% w dserr Co VoSS0 P. 03 0003/008 Petitioner(s) or Attorney Address: Telephone: l v ' 35 O —73 20 i Telephone: County Assessor ADDRESS: 1400 N.17th Avenue Greeley, CO 80631 (970) 3534845 ext. 3656 Weld County CHRISTOPHER M. WOODRUFF COUNTY ASSESSOR BRENDA DONES, DEPUTY ASSESSOR VALUATION REPORT OF RESIDENTIAL IMPROVED PROPERTY FOR County Board of Equalization NEUDECK ALEXANDER J & NEUDECK GRETCHEN M PETITIONER VS. WELD COUNTY ASSESSOR'S OFFICE RESPONDENT Parcel Number: 0807-09-0-00-017 Schedule Number: R0135288 Log Number: 2355 Date: 7/29/2009 Time: 03:15 PM Board: CBOE PREPARED BY DEBBIE FANGMEIER Signature Date ASSESSOR'S OFFICE STAFF APPRAISER ASSESSOR'S VALUE RESIDENTIAL $606,354 Total: $606,354 CBOE_RES_010 Pag 48't-i 7w GENERAL DESCRIPTION AND MARKET SUMMARY SUBJECT SITE AND IMPROVEMENTS This property is located at 8961 LLAMA LN in the city of WELD. The legal description of the property is PH -4 L4 PFERD HIMMEL PUD SITUS: 8961 LLAMA LN WELD 80550. Utilities available to the site are typical for the area. The residence is a Frame Hardboard house constructed in1992. It has 3454 square feet of finished living area. There are 5 bedrooms. The Assessor has classified the structure as a 2 Story home of Average quality, using Average quality materials. alert- ALLISIWIIIM CBOE_RES_010 Pagi MARKET APPROACH SUMMARY Real property for the tax year 2009 must be valued utilizing the level of value for the period of one and one-half years immediately prior to July 1, 2008. A period of five years immediately prior to July 1, 2008 shall be utilized to determine the level of value if adequate data is not available from such one and one-half year period to adequately determine the level of value for a class of property. Said level of value shall be adjusted to the final day of the data -gathering period. Changes occurring between base years are not to be accounted for until the following level of value is implemented, other than additions, change in use, detrimental acts of nature, damage due to fire, etc., creation of a condominium, new regulations restricting or increasing the use of the land, or a combination thereof (39-1-104(11)(b)(I), CRS}. The Weld County Assessor has an established ongoing Sales Confirmation and Validation Program for property transactions used in developing values. The subject property has been classified as Residential for assessment purposes. Residential property value shall be determined by appropriate consideration of the Market Approach to Value {39-1-103(5)(a), CRS}. The Assessor has considered this approach to value for the subject parcel. ASSESSOR'S VALUE RESIDENTIAL $606,354 Total: $606,354 CBOE_RES_010898 Page 3 Comparable Number Comparable Number Comparable Number CBOE_RES_0lt Pag CR TO 3449E 3411 34006 901 I - CR/0 `° CBOE_RES_010 Pag' 1 35160 8408 8412 35245 35197 35145 AVM 3NOJSa3N2lO3 35107,- 35081 35198 35126 35070 35061 COMP #3 r( 8897 8943 GANDER VALLEY LN 8952 35065 i CR'72 35456 35190 35002 CBOE_RES_01C Pag WELD County ASSESSOR'S Sales Comparables Market Adjustment Grid Subject Comp #1 Comp #2 Comp #3 Sale Date Sale Price TnAdj Sale Price Parcel Number Account Number Street Address 8/2/1993 $205,000 $0 0807-09-0-00-017 R0135288 8961 LLAMA LN 8/16/2007 $465,000 $463,300 0807-09-0-00-018 R0135388 8975 LLAMA IN 3/15/2007 $400,000 $400,000 0807-09-4-01-026 R1245597 917 SHETLAND CT 8/23/2007 $650,000 $649,500 0807-040-01-014 R0265895 35070 CORNERSTONE Bu13ng SF 3,454 0 2,742 $28,480 2,704 $30,000 2,782 $26,880 Land SF 0 0 $0 108,987 $0 165,092 $0 Neighborhood 2001 00 2001 00 $0 2001 00 $0 2001 00 $0 Ocapancy Single Family Residents Single Family Residential $0 Single Family Residential SO Single Family Residential $0 Basement, Finishe 0 0 $0 0 $0 990 ($15,840) Basement, Unfiush 1863 1026 $11,718 1421 $6,188 1320 $7,602 Basement, Wakout 0 0 $0 0 $0 0 $0 Balhroans 5 3 $7,000 3 $7,000 3 $7,000 Bonus Room, SF 0 0 $0 0 $0 0 $0 Condition Typical Typical $0 Typical SO Typical $0 Design 2 Story 2 Story $0 2 Story $0 2 Story SO Garage, Attached 672 $16,800 672 $0 704 ($800) Garage, Basment 0 $0 $0 $0 Garage, Built in 0 $0 $0 $0 Garage, Detached 0 906 ($22,650) $0 $0 Land Value Adj 248140 145160 $102,980 130000 $118,140 227400 $20,740 Other 0 0 $0 0 $0 0 $0 Other &cgs 4980 34017 ($29,037) 0 $4,980 4500 $480 Quality Average Average $0 Average $0 Average $0 Year Adusted 1992 1992 $0 1997 SO 1996 $0 $Adjustment $115,291.00 $Adjustment $166,308.00 $Adjustment $46,062.00 Gross % Adjustment 47.20% Gross % Adjustment 41.58% Gross % Adjustment 12.22% Net % Adjustment 24.88% Net % Adjustment 41.58% Net % Adjustment 7.09% Final Market Value $606,354.00 Adjusted Sales Price $578,591.00 Adjusted Sales Price $566,308.00 Adjusted Sales Price $695,562.00 Final Market Value/SF $175.55 Adjusted Sales Price/SF $167.51 Adjusted Sales Price/SF $163.96 Adjusted Sales Price/SF $201.38 CBOE_RES_010898 Page 7 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 R0135288 2009 0405 PH -4 L4 PFERD HIMMEL PUD SITUS: 8961 LLAMA LN WELD 80550 8961 LLAMA LN WELD, CO 80550 PROPERTY OWNER NEUDECK ALEXANDER J & 8961 LLAMA LN WINDSOR, CO 80550 PROPERTY CLASSIFICATION ASSESSOR'S VALUATION ACTUAL VALUE PRIOR TO REVIEW ACTUAL VALUE AFTER REVIEW RESIDENTIAL 606,354 606,354 TOTAL $606,354 $606,354 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: ALOE - Your property has been uniformly valued following Colorado law. Your protest of value has been denied due to comparison of other similar properties which sold during the 2007/2008 time period. 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 tbj orrask_ your Assessor for a listing of the local taxing authorities. Please refer to the reverse side of this notice for additional inforf tdtiort-- r` 2009-1744 Signatu e APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 1 through August 5 at 915 10t° 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 9p1 Avenue and 9r" Street, P.O. Box C Denver, CO 80203 Greeley, Colorado 80632 (303) 866-5880 Telephone (970) 356-4000 Ext. 4520 www.dola.colorado.qov/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 far r.troperty qursuant to § 39-8-106(1.5), C.R.S.) 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 documentation, i.e., comparable sales, rent roll, original installed cost, appraisal, etc.) A fpr«„ 5cai ct ded /L1 c, 1 )08. 4 c cr j of. +h:-5ti, ° fere-L:5nf s e.lclus c J ATTESTATION designed owner or agent' of the property identified above, affirm that the statements in and on any attachments bersto are —trite and o fete. /U 3jm-/3 O 7-/- Oct Telephone Number Date exarle c2 'Attach letter of authorization signed by property owner. 15-DPT-AR PR 207-08/08 NOD #: 1767 0 File No 080501 Llama Lane Wi Western States Bank 1298 N. College Avenue Fort Collins, CO 80524 Alexander J. and Gretchen M. Neudeck M. Kathleen Gallivan Certified Residential Appraiser i File No. 080501 Llama Lane Y May 2008 Steve Sullivan Western States Bank 1298 N. College Avenue Fort Collins, CO 80524 File Number: 080501 Llama Lane Windsor Dear Sirs; In accordance with your request, I have appraised the real property at: 8961 Llama Lane Windsor, CO 80550 The purpose of this appraisal is to develop an opinion of the market value of the subject property, as improved. The property rights appraised are the fee simple interest in the site and improvements. In my opinion, the market value of the property as of May 5, 2008 is: $535,000 Five Hundred Thirty -Five Thousand Dollars The attached report contains the description, analysis and supportive data for the conclusions, final opinion of value, descriptive photographs, limiting conditions and appropriate certifications. Sincerely, M. Kathleen Gallivan CR100000218 Office Phone 970-215-0991 Uniform Residential Appraisal Report File No. 080501 Llama Lane 6 The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported. opinion of the market value of the subject properly. Property Address 8961 Llama Lane City Windsor State CO Zip Code 80550 Borrower Alexander J. and Gretchen M. Neudeck owner or Public Record Neudeck county Weld Legal Desorption PH -4 LE Pferd Himmel PUD Assessors Parcel x 080709000017 Tax Year 2007 R.E. Taxes S 3,852.06 Neighborhood Name Pferd Himmel Map Reference Weld Census Tract 0022.02 , occupam Owner I I Tenant I I Vacant Si' ial Assessments S None Noted [Xi PUO HOA 60.00 [Xl per year I (per month Property Rights App�iin}sect IX1Fee Simple LlLeasehold I Other (describe) IX.I Assignment Type I I Purchase Transaction IX Refinance Transaction I I Other (describe) Lender/Client Western States Bank Address 1298 N. College Avenue, Fort Collins, CO 80524 Is the subject property currently offered for sale or has d been offered for sale in the twelve months prior to the effective date of this appraisal? IX] Yes I I No Report data source(s) used, offering pnce(s), and date(s). The subject property was listed with MLS on 7/26/07 for $615,000 the price has been reduced three times to the current listing of $549,000. i IJ did IX) did not analyze the contract for sale fa the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was not performed. No contract associated with this appraisal assignment. Contract Price $ N/A Date of Contract 4/30/20089 Is the property seller the owner of public record? IXlves I I No Data Source(s) Weld Cty Rods Is there any financial assistance (loan charges, sale concessions, gib or downpayment assistance, etc.) to be paid by any party on behalf of the bemwer? U Yes [XI No If Yes, report the total dollar amount and describe the items to be paid. S N/A N/A Note Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood Characteristics Ore -Unit Housing Trends Ono -Unit Housing Present Land the% Location 'Urban y ,y Suburban Rural Property Values Increasing it Stable 'Declining PRICE AGE Ore -Unit 75% Built -Up Over 75% is 25.15% Under 25% Demand/Supply Shortage Ain Balance Over Supply S(000) (yrs) 2'4 Unit Growth Rapid ,X, Stable Slow Marketing Time Under 3 molts A. 3-6 mint Over 6 mths 400 Low New Multi -Family Neighborhood Boundarie Those areas within the town of Windsor. 1,000 High 20 Commercial 525 Pred. 10 other Open 25 % Neighborhood Description The subjects neighborhood is just north of downtown Wndsor. The development stared in the early 1990's with the growth of Wndsor and continues today. The lots are all acreage ranging from 2-10 acres with horse privileges. The homes are good quality and custom built. Access to all amenities is excellent. The demand for this neighborhood is acreage, quality and location. Market Conditions (including support for the above conclusions) See Attached Addendum Dimensions None provided Area 6.53 Acres Shape Irregular Rectangle View Plains Specifc Zoning Classification El Zoning Description Estate Residential Zoning Compliance (XI Legal I I Legal Nonconforming (Grandfathered Use) I I No Zoning I I Illegal (describe) !� Is the highest and best use of the subject property as improved (or as proposed per plans and specifications) the present use? IX) Yes tJ No If No. describe. Utilities Public other (describe) Public Other (describe) Off.sne Improvements —Type Public Private Electricity AL 1 Water rpl H Street Asphalt Gas A. I Sanitary Sewer ,XI Septic/Typical Alley None typical FEMA Special Flood Hazard Area I I Yes IxI No FEMA Flood ZoneC FEMA Map a 080266 0465D FEMA Map Date 09/22/1999 Are the utilities and off -site improvements typical for the market area? (nl Yes I INo If No, describe. ,,I Are there any adverse site conditions or U external factors (easements,encroachments, environmental conditions, land uses. etc.)? Yes IX) No If Yesdescribe. No survey Or improvements location map was supplied the appraiser, without those documents the appraiser cannot comment on adverse encroachments. No adverse conditions were noted during the field work. GENERAL DESCRIPTION FOUNDATION EXTERIOR DESCRIPTION matedalslcoetidon INTERIOR matepis/ca, pen Units IXOne I I One with Accessory Unit 4 Concrete Slab a Crawl Space Foundation Walls Concrete/Avg Floors HW/C/T/Good X of Stories StoriesTwoTwo X Full Basement Partial Basement Exterior Walls Frame/Avg Walls DtyWall/Good Type lI� Det. Afr US.Det /End Unit U Basement Area 1863 sr. ft Roof Surface Composition/Good TnMFimsh STained/Good IXI Existing I I Proposed f I Under Const Basement Finish 25 % Guners & Downspouts Galvanized/Avg Bate Floor Tile/Good Design (Style) Two Story I )outside Entr)IExn I I Sump Pump Window Type Vinyl/Good Bath Wainscot Tile/Good Year Built 1992 Evidence of L Infestation Storm Sas/iesulated Dbl/Good Car Storage I INone Effective Age (Yrs) 4-6 I I Dampness Senlement Screens Yes Driveway / of Cars 2 Attic I None Heating l IFWA HWBB II I Radiant Amenities IWoadStove(s) N Driveway Surface Concrete Drop Stair I Stairs I I Other Fuel NGas Fence IX Garage F of Cars 2 Floor X Scuttle Cooling Ix( Central Air Conditioning YIFireplace(s)N dY PatiolDeck Porch M of Cars Finished Heated Individual I (Other Pool Other .(Carport plAn. I I Det. I IBuilt-in Appliances I PI Refngerator lxl RangelOven X Dishwasher IX I�. Disposal (XI Microwave I PI WasherlDryer I (Other (describe) Finished area above grade contains: 9 Rooms 6 Bedrooms 3.5 Bath(s) 3,402 Square Feet of Gross Living Area Above Grade Additional features(special energy efficient items, etc.) See Attached Addendum Describe the condition of the property (including needed repairs, deterioration. renovations, remodeling, etc). The floorplan is acceptable and the condition of the subiect is considered good. Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the properly? byes XINo If Yes, describe. I,, Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction. etc.)? [gives L)No If No, describe. ace Mae Form 1004 March LA Paye l an lamps assist, Uniform Residential Appraisal Report File No. 080501 Llama Lane 1J There are 21 comparable properties currently offered for sale in the sublect neighborhood ranging in price from S 125,000 toy 874,900 There are 9 comparable sales in the subject neighborhood within the past twelve months raying In sale price front S 260,000 to S 685,000 FEATURE I SUBJECT COMPARABLE SALE NO.1 COMPARABLE SALE NO. 2 COMPARABLE SALE NO. 3 8961 Llama Lane Address Windsor 8975 Llama Lane Windsor 933 Clydesdale Lane Windsor 8805 Longs Peak Circle Windsor proximiryto sublect 0.06 miles WNW 0.36 miles WNW 5.40 miles SW Sale Price S N/A S 465,000 S 595,000 S 585,000 Sale PncelGross Lv Area S 0.00 sq. Ir. 8 168.97 sq. ft. S 184.44 sq. f. 5 163.59 sg n. Data Source(s) MLS/YWM Cty Ro MLS/Weld Cty Rcds/LA MLS/VVeld Cty Rcds/LA MLSM/eld Cty Rcds Verification Source(s) Field Work DOM 84 DTO 85 DTO 84 VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION -O SMywrert DESCRIPTION -y s ',Augment DESCRIPTION +qt ndluanea Sale or Financing Concessions N/A WA Cash No Slr Con New Cony No Slr Con Cash Date of Sale/rime 4/30/2008 8/16/2007 4/7/2008 10/08/2008 Location Pferd Himmel Pferd Himmel Windsor Estates Steeplechase Leasehold/Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple site 6.53 Acres 3.82Acres +12,000 2.5 Acres +16,000 2 Acres +18,000 View Plains Plains Plains SnoCap/BckRng -5000 Design (Style) Two Story Two Story Two Story Two Story quality of Construction Average Average Average Average Actual Aqe 1992 1992 1996 2005@$500py -6,500 Condition Good Good Excellent -6,000 Very Good -5,000 Above Grade Room Count Gross lung Area 30.00 Fetal earns eats Total Bruns MIS Total Rath:. Baths Tani Banns Basis 9 6 3.5 9 4 2.5 +2,500 9 4 3.5 8 4 3.5 3,402 sq. n. 2,752 sq. It. 19,500 3,226 sq. ft. 5,300 3,576 sq. ft. -5200 Basement a Finished Rooms Below Grade 1863 Sq.Ft. 25% Finished 1045 Sq. Ft. Unfinished 8,200 9,300 2233 Sq. Ft. 90% Finished -3,700 -30,900 2100 Sq. Ft. 90% Finished -2,400 -28,500 Functional Utility Acceptable Acceptable Acceptable Acceptable Heating/Cooling HWBB C/Air FWA C/Air FWA C/Air FWA C/Air Energy Efficient Items Standard Standard Standard Standard Garage/Carport 2 Car Garage 3 Car Garage 4 Car Garage 3 Car Garage Porch/Patio/Deck Decks/Lsk/Spk Patio/Deck Patio/Deck Decks/Lsk/Spk Wood Stove 1 F/P 1 F/P Wood Stove 4Grg/3 Stalls Bam/4 Stalls/Sup -3,000 Barn/2 stall No Offset None +20,000 Kitchen Similar Superior -10,000 Superior -10,000 Net Adiustment(Total kJ. I I- s 48,500 I I. IXl- S 29,300 I 12d- s 24,600 Adjusted Sale Price of Comparables Net Adj. 10.4% GrossALi. 11.7% S 513 500 Net Adj. -4.9% Gross Ant. 12.1% 8 565,700 .I. Net Adj. -4.2% Gross Ani. 17.2% S 560,400 I IXI did U did not re the sale or transfer history of the subject property and comparable sales. If not. explain Iearch My research I J did IXJ did not reveal any prior sales or transfers of the sublect property for the three years prior to the effective dale of Iris appraisal. Data source(s) Weld, County Recds per Parcel Number IJ My research I I did did not eveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale. Data source(s) Weld County Recds per Parcel Number Report the results of the research and analysis of the prior sale or transfer history of the subject property and com arable sales Irepon additional prior sa es on page 3). ITEM SUBJECT COMPARABLE SALE NO. 1 COMPARABLE SALE NO. 2 COMPARABLE SALE NO. 3 Date of Poor Sale/rransfer No Sales Last 3 Years No Sale In the last year No Sale In the last year No Sale In the last year Price of Pria Sale/Transfer $0 $0 $0 $0 Data Source(s) Weld Cty Weld Cry Weld Cty Weld Cty Effective Date of Data Source(s) 5/5/2008 5/5/2008 5/5/2008 5/5/2008 Analysis of prior sale or transfer his ory of the subject properly and comparable sales The appraiser did not complete a title search nor has one been provided for review. There were no prior sales of either the subject property or the comparables according to Weld County records. Summary of Sales Comparison Approach. See Attached Addendum Indicated Value by Sales Comparison Approach $ 535,000 indicated Value by. Sales Comparison Approach S 535,000 Cost Approach (ifdevelopedls 553,200 income Approach (n developed) E N/A Of the three traditional approaches to value, cost, market and income, most weight is placed on the market approach as it reflects the actions of current participants �m,,arket Cm appraisal is made [XJ'as is,- U subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed, ❑subject 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 the extraordinary assumption that the condition or deficiency does not equire alteration or repair. Based on a complete visual inspection of the interior and exterior areas of the subject property. defined scope of work. statement or assumptions and limiting conditions and appraiser's certification. my (owl opinion or the market value. as defined, or the real property that is the subject or this report is s 535,000 yaas of May 5, 2008 which is the dale or inspection and the effective date or this appraisal. Page Pas John F.W. Mayea afar Mae Farm r5J4 Marts ZOOS 103,_05 saws Uniform Residential Appraisal Report File Na 080501 Llama Lane V COST APPROACH TO VALUE (not required by Fannie Mae) Provide adequate information for the lender/client to replicate the below cost figures and calculations. Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value) ESTIMATED I IREPRODUCTION OR Ix] REPLACEMENT COST NEW OPINION OF SITE VALUE S 150,000 source of cost data Marshall and Swift Dwelling 3,402 Sq. Ft @ 5 90.56 g 308 085 quality rating from cost service Average Effective date of cost data 9/2007 Bsmt 1863 Sq. Ft. Sq. Ft cmS 30.00 = $ 55 890 Comments on Cost Approach (gross living area calculations. depreciation. etc.) Bath Fix, Appliances, Wood Stove, Decks 15,000 Cost based on Marshall and Swift Res Manual and local builders Garage/Carpon 1,400 Sq. Ft Co S 24.00 = s 33 600 estimates.Depreciatfon is based on the life age method and the Total Estimate of Cost -New - $ 412,575 subject property is estimated to have a 65+/- life. Less 70 Physical Functional External Depreciation $29,357 = S( 293571 Depreciated Cost of Improvements = S 383,218 "As -is' Value of Site Improvements S 20,000 Estimated Remaining Economic Life (HUD and VA only) Years INDICATED VALUE BY COST APPROACH -$ 553,200 INCOME APPROACH TO VALUE (not required by Fannie Mae) Estimated Monthly Markel Rent S N/A X Gross Rent Multiplier N/A =$ N/A Indicated Value by Income Approach Summary of Income Approach ((including support for market rent and GRM) In this appraisal the income approach was omitted as the homes in the subjects market segment are not bought and sold on their income characteristics. PROJECT INFORMATION FOR PUN (if ap livable) Is the developerlbuilder in control of the Homeowners' Association (HOA)? I men IidNo Unit type(s) FlDetached I I Attached Provide the following information for PUDs ONLY if 0e developer/builder is in control of the HOA and the subject property is an attached dwelling unit. Legal name of protect Total number of phases Total number of units Total number of units sold Total number of units rented Total number of units for sale Data source(s) f l Was the project created by the conversion of an existing building(s) into a PUD? I I Yes I }No If Yes, date of conversion. Does the project contain any multi -dwelling units? I ]Yes I I No Data sourIce11s) Are the units. common elements. and recreation facilities complete? Yes UNo If No. describe the status of completion. U Ave the common elements leased to or by the Homeowners' Association? U Yes UNo If Yes. describe the rental terms and options. Describe common elements and recreational facilities. ....— aw¢MaeFamt 4 Mach 2005 05 f6o916 Page3016 Uniform Residential Appraisal Report File No. 080501 Llama Lane Y This report form is designed to report an appraisal of a one -unit property or a one -unit properly with an accessory unit; including a unit in a planned unit development (PUD). This report form is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project. This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value, statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intended use, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's continuing education or membership in an appraisal organization, are permitted. SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources, and (5) report his or her analysis, opinions, and conclusions in this appraisal report. INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of this appraisal for a mortgage finance transaction. INTENDED USER: The intended user of this appraisal report is the lender/client. DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with the sale. `Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the following assumptions and limiting conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it, except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opinions about the title. 2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements. The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand, or as otherwise required by law. 5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the research involved in performing this appraisal. Unless otherwise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, this appraisal report must not be considered as an environmental assessment of the property. 6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will be performed in a professional manner. e MS Fmm to Mardi 2025 1004_05 062336 Uniform Residential Appraisal Report He No. 080501 Llama Lane APPRAISERS CERTIFICATION: The Appraiser certifies and agrees that: 1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report. 2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition of the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the livability, soundness, or structural integrity of the property. 3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 4. I developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop them, unless otherwise indicated in this report. 5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior 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 Macrpm 7o Math 7005 one Maa Fern Mat,2V5 Uniform Residential Appraisal Report Flle No. 080501 Llama Lane 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 appraisers 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: t I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraisers 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 appraisers analysis, opinions, statements, conclusions, and the appraiser's certification. 3. The appraiser identified in this appraisal report is either a sub -contractor or an employee of the supervisory appraiser (or the appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law. 4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 5. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. APPRAISER Signature fvV akki, Name M. Kathleen Gallivan Company Name Big Thompson Appraisal Group Company Name Company Address 6766 Blue Dog Lane Company Address Loveland Colorado 80538 Telephone Number 970-215-0991 Email Address kgallivan@lpbroadband.net Date of Signature and Report May 5, 2008 Effective Date of Appraisal May 5, 2008 State Certification # CR100000218 or State License # or Other (describe) State CO Expiration Date of Certification or License 12/31/2010 SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature Name State # ADDRESS OF PROPERTY APPRAISED 8961 Llama Lane Windsor, CO 80550 APPRAISED VALUE OF SUBJECT PROPERTY $ 535,000 LENDER/CLIENT Name Steve Sullivan Company Name Western States Bank Company Address 1298 N. College Avenue Fort Collins, CO 80524 Email Address Telephone Number Email Address Date of Signature _ State Certification # or State License # _ State Expiration Date of Certification or License SUBJECT PROPERTY ❑ Did not inspect subject property 5 Did inspect exterior of subject property from street Date of Inspection ❑ Did inspect interior and exterior of subject property Date of Inspection COMPARABLE SALES ❑ Did not inspect exterior of comparable sales from street ❑ Did inspect exterior of comparable sales from street Date of Inspection Freckle Mac Fran ro Marc 2005 Pid dwM ACI p 66T53.v5727 wimacxream 9 John F.W. Mayea Pam MaeOn 1� Marl 1005 05� Uniform Residential Appraisal Report File No. 060501 Llama Lane V FEATURE I SUBJECT COMPARABLE SALE NO.4 COMPARABLE SALE NO.5 COMPARABLE SALE NO.6 8961 Llama Lane Address Windsor 35070 Cornerstone Way Windsor Proximity to Subject 0.90 miles NNW Sale Price S N/A S 650,000 $ $ Sale Ptlre'Goss Let Area S 0.00 sq. f. S 233.64 sq. fn. S 0.00 sq. ft S sq. f. Data Source(s) MLS/Weld Cly Ro MLSAMeld Cty Reds Verification Source(s) Field Work DTO 44 VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION 4) 1Adivamen DESCRIPTION +l srwwamen DESCRIPTION el) S.Aeluanen Sale or Financing Concessions N/A N/A New Cony No Slr Con Date of Sale/Time 4/30/2008 8/23/2007 Location Pferd Himmel Shiloh -20,000 Leasehold/Fee Simple Fee Simple Fee Simple - Sue 6.53 Acres 3.79 Acres view Plains SnoCap/BckRng -15,000 Design (Style) Two Story Two Story Duality of Construction Average Average Actual Age 1992 1996/Updated -50,000 Condition Good Good Above Grade Room Count Gross Irving Area30.00 Total trims Baths Taal rums Bak Teel &me.. talus IOW turns Baths 9 6 3.5 8 4 2.5 +2,500 3,402 sq. ft. 2,782 sq. f. 18,600 sq. ft. sq. ft. Basemen a Finished Rooms Below Grade 1863 Sq.Ft. 25% Finished 1320 Sq. Ft. 75% Finished 5,400 -10,500 0 Functional Utility Acceptable Acceptable Heating/Cooling HWBB C/Air FWA C/Air Energy Efficient Kerns Standard Standard Garage/Carport 2 Car Garage 3 Car Garage -4,500 Porch/Patio/Deck Decks/Lsk/Spk Decks/LsIcSpk Wood Stove 1 F/P 4Grq/3 Stalls Barn/2 Stall/Sup -3000 Kitchen Superior -10,000 Net Adjustment (Total) [ 1. (xi. S 86,500 [Xi. I J. S 0 I,,1 LxJ. I l- s 0 Adjusted Sale Pnce of Comparables Net Adj. -13.3% Gross Adj. 21.5% S 563,500 Net Adj. 0.0% Goss Adj. 0.0% S 0 Net Adj. 0.0% Gross AA.. 0.0% 5 0 ITEM SUBJECT COMPARABLE SALE NO.4 COMPARABLE SALE NO.5 COMPARABLE SALE NO.6 Date of Pnor Sale/Transfer No Sales Last 3 Years No Sale In the last year Price of Prior Sale/Transfer $0 $0 Data Source(s) Weld Cty Weld Cty Effective Date of Data Source(s) 5/5/2008 5/5/2008 Summary of Sales Comparison Approach mm.o.y ncl a.wa.corn stifle ue. ram loot vamp pins ADDENDUM Borrower Alexander J. and Gretchen M. Neudeck File No - 080501 Llama Lane Wndsor Property Address. 8961 Llama Lane Case No.: City: Wndsor State: CO ZIP: 80550 Lender Western States Bank Purpose of the Appraisal The purpose of this appraisal is to estimate the subject's current market value, as defined in this report, for mortgage loan purposes only. The report has been prepared by the appraiser with the intention of complying with current USPAP and FIRREA requirements, as they apply to Federally related mortgage loan transactions. This report is subject to the attached Statement of Limiting Conditions and the Appraiser's Certification. This report is intended for the exclusive use of Lending Ladies for mortgage loan underwriting purposes only. Lending Ladies and or assigns is the only intended user of this report. If any other parties choose to rely on the report the appraiser is not obligated to such parties and this unintended use doesn't result in such parties becoming intended users. Even if the borrower should choose to rely upon the appraisal, as stated in Appraiser's Certification #23, they should not be relying on it to disclose conditions and defects. That is the job of a professional home inspector. The appraiser should be held harmless from legal issues arising from unauthorized uses of the report by parties other the only intended uses. It should be noted by the reader of this report that Fannie Mae instructions state that this form is to be utilized exclusively for mortgage loan purposes and cannot be used or relied upon by anyone in the private sector, for any purposes. Neighborhood Market Conditions The market has increased activity as the weather has warmed. This is a function of more buyers in the market and all the programs that the government has put into place to help with the mortgage turmoil. Homes that are well priced, clean and in good condition are selling with minor seller concessions. At the current time interest rates are in the mid 5 to6% range for typical 30 year mortgages. Days on the market in the subject's neighborhood ranges from 110 to 150 days to sell and close. The subject property is being appraised with a marketing time of 110 to 150 days. Additional Features The subject property is a 1992 two story style home with an attached two car garage, a detached 4 car garage that currently has been converted to a three stall horse bam, paddock fencing, other fencing, sprinkler and mature landscaping. The main floor has a master suite with private bath, formal dining room, kitchen with family dining, family room, 1/2 bath, laundry, study and sun room. The upstairs has four bedrooms and two baths. There is a master bedroom with private bath and a cedar walk in closet. The other three bedrooms share a hall bath and have walk in closets. The basement has some framing and electrical and is plumbed for a bath. There are numerous decks around the home on both the main floor and the second story. Comments on Sales Comparison After an extensive market search the following sales were selected to value the subject the subject property. All four sales are on acreage, have horse privileges and are similar in age. Only one sale has occured in the subjects immediate neighborhood in the last twelve months and three of the four sales are over the desirable six month period and were necessary to bracket the subject. An Acreage adjustment has been made with $4000 per acre used. The access to the subject property is on gravel as is comparable number one. All other comparables are on asphalt. Sale number one is a smaller home of similar age and finishes with a superior barn and less acreage in the same subdivision. Sale number two is a pending sale of a slightly smaller home with superior finished and less acreage. Sale number three is a a larger home on smaller acreage, with superior finishes, newer and no barn. Sale number four is an older sale of a smaller more updated home with a superior barn, on a superior lot. This comparable is over one mile from the subject. When acreage and horse privileges are involved it is typical to have to travel outside the one mile radius.This comparable is within the city limits of Windsor. Most weight is placed on comparable number one. Based on these sales a value of $535,000 is adopted. Scope of the Appraisal The appraiser has physically observed the subject improvements, the subject site and the immediate surrounding area. The complete visual observation involved viewing the readily accessible and viewable areas of the exterior of the property from the street. The appraiser does not guaranty or warrant that the property is free from all defects or environmental problems. The appraiser has viewed the property as noted above and any obvious deficiencies that effect the health, safety or structural integrity of the property has been noted in the report and reflected in the final value estimate. If professional inspections are conducted, that the results are subsequently made known to the appraiser the final estimate of value contained herein may be subject to revision. The age of the property, legal description, realestate tax liability and sales history were taken from available public records.. The lot size and site dimensions were take from public records and a subdivision plat map, if available. The appraiser can only assume they are correct. If a plat map or survey were available to for this property, copies of which have been attached to this report. No radon test was supplied the appraiser, therefore it is assumed that hazardous levels of radon do not exist in the property. The appraiser has researched available MLS and public record data, in order to develop the best comparable data base for the comparable sales analysis. The comparables have been verified, analyzed and compared to the subject property. Adjustments applied to the comparable sales have been either extracted from the market, based on cost data, or based on the appraisers experience relating the the market's reaction to the various property components. The income approach is often not applicable but in the cases where it is current rental and ratio data has been applied. Addendm Page 1 d 1 identify Results Page 1 of 2 WELD COUNTY ASSESSOR PROPERTY PROFILE A .0 t*: R0135288 Paul*: 080709000017 Tax Ave.. 0405 Sorderin0 County: Awes: 6.53 Township Ronne Section Quart. Sac. SubdNbon Nance Sledni Lots 06 - 67 • 09 - 0 PFERD HIMMET PUD - - 4 OWRars Name i Address• NEUDECK ALEXANDER ) & 8961 LLAMA LN WINDSOR, CO 80650 Additioaat Owners: NEUDECK GRETCHEN M Wsinam/Comptax: Sale Date 5/8/2003 Sale Price SO Pisn.tth. Addtem: Street 8961 LLAMA LN WELD City: WELD Setee Summary Deed Type QCN Lenni 04*criatiss Recintk t_i 3063439 IL -4 L4 ?FERD HIMMEL PUD SITu5• 8961 LLAMA LN WELD 80550 Land Type Residential Land Valuation Simi a fy Abet Cede Unit of Number of Measure Units 1112 Acres 6.53 Land Subtotal: 6.53 Slott* Property Type 2 Resdental Out Budding Improvements Subtotal: Total Property Value Account*: R0135286 Owners Name & Address: NEUDECK ALEXANDER 3 & 8961 LLAMA LN WINDSOR, CO 80550 t},l8tllntns saildinpr Valuation SanMMry Building Details Actual Value $241,140 Actual Vallee *366.420 $614,560 Sieserty Andrew: Street 8961 LLAMA LN WELD City: WELD Property Wag R4sident.ai Assessed Value $19,750 Aaaasaed Vallee* $29,170 $46,920 Parcel*: 000709000017 http: //maps2.metrick.com/Websitc/W eld/setSq}. asp?cmd"QUERY&DET=PP&pin�80909.. 5/6/2008 RoduceS uvng MCI nMre SW 1341111 war a u , can Fam EDOC PLAT MAP Borrower: Alexander J. and Gretchen M. Neudeck File No.: 080501 Llama Lane Windsor Property Address: 8961 Llama Lane Case No.: City: Windsor State: CO Zip: 80550 Lender: Western States Bank Weld County. Colorado Paine I O12 Weld County, Colorado I1 85 14 • 71 r • ' [•-, - L Encode=... 5/6/2008 a 4. A— e Att. 1 , '-- a 6. w jrls ;I.'.Aiwa ,. WINDSOR DO'.&C1 IINIS t http: //maps2. merrick-com/MerricklMS/i ms?ServiceName-weidovr&Form=True& FLOOD MAP Borrower: Alexander J. and Gretchen M. Neudeck File No.: 080501 Llama Lane Windsor Property Address: 8961 Llama Lane Case No.: City: Windsor State: CO Zip: 80550 Lender: Western States Bank u Gander Vane Lri I 1_ a Co c o ei r.D o H T a c _ tU v L N (rxJ gyei m. a a l... ' \ c'`G� G)- 1 f .0 -- Subject - Lterna Li, n ADpabosa ct 0 a z 8 - 0 r�ou my Road 7,0 O. 2. % 10 U r Lab:u -. o r E A /1 ^.3 . C; `ear`' '-‘"--.Q, i C7 o ; �1 _ � {GDU ~ 3,2 Lake`Ct ^,J�Lcil alrCsdar OFyj 4• 4� I ctp �� 2 I inaptEtrcnSt U en l --i(11 x 3 h�a -11--"--......... Main St 11 � _ FloodMap Legend Flood Information ROW Zones Cotlurmnity: 0802156- UNINCORPORATED AREA Property is not in a FEMA spacial `loot ha:arc area. Areas .xr:dated by S00 -year flooding Map Number 0802e8 0465D !lap Cate: 05.2,1* 333 Pant 0455D FIRS- 05'23 Areas outs:Ce of the 100- and 500 -year ftaodpa>ns Zone' C Sill Areas crusdated by 100 -yeas flooding Areas awndated by 100 -year flooding with velocity hazard _Neater Trarsamenca Floor, Na:;ra Certification (TFHC' nor ACI crake ary Ftood✓+ay area: representations or warranties to any party concerning the content. accuracy or Flloodway areas w.th velocity hazard c ompieteness DI this flood report. irciitirr } ary warranty of rrerchartabibty or Areas of wzd.termined Dcd possible flood hazards `itness for a particular purpose. Neither TFHC rot ACI n r the seller of this 4b0^ report stall have any lability to any third for patty any use or misuse of Area; not mapped on any pubSshed FIRM this flood report F LOO PP LAN Borrower: Alexander J. and Gretchen M Neudeck File No.: 080501 Llama Lane Windsor Property Address: 8961 Llama Lane Case No.: City: Windsor State: CO Zip: 80550 Lender: Western States Bank •iiii�ii�i�ii �.�.n .r • -'-'I " '- _ ... .I .•: :///7 IIIIIIIII:III; .r. iea ,4)- Or iili1 illIMIIII IIl C. On.r• I I Sketch by Apex IV Windows TM AREA CALCULATIONS SUMMARY Code Description Size Totals LIVING AREA BREAKDOWN Breakdown Subtotals GLA1 First Floor 1863.08 GLA2 Second Floor 1539.00 BSMT Basement 1663.08 P/P Side Deck 1061.00 Dining Porch 180.00 2nd story master bed 50.00 2nd story deck 80.00 Front Porch 323.00 GAR Garage 700.00 OTH Sun Room 420.00 TOTAL LIVABLE (rounded) 1863.08 1539.00 1863.08 1694.00 700.00 420.00 3402 First Floor 16.0 x 50.0 0.5 x 0.0 x 0.0 16.0 x 32.0 19.0 x 29.0 Second Floor 16.0 x 38.0 17.0 x 19.0 16.0 x 38.0 7 Areas Total (rounded) 800.00 0.08 512.00 551.00 608.00 323.00 608.00 3402 FLOORPLAN Borrower: Alexander J. and Gretchen M. Neudeck File No.: 080501 Llama Lane Windsor Property Address:8961 Llama Lane Case No.: City: Windsor State: CO Zip: 80550 Lender: Western States Bank Sketch by Apex IV Wndows"' DIMENSION LIST ADDENDUM Borrower: Alexander J. and Gretchen M. Neudeck File No.: 080501 Llama Lane Windsor Property Address:8961 Llama Lane Case No.: City: Windsor State: CO Zip: 80550 Lender: Western States Bank GROSS BUILD NG AREA (GBA) 3,402 GROSS LIVING AREA (GLA) 3,402 Mears) Area % of GLA % of GBA Living 3,402 100.00 Level 1 3,726 109.52 109.52 Level 2 3,078 90.48 90.48 Level 3 0 0.00 0.00 Other 4,228 124.28 124.28 GM Basement ❑ 3,726 Garage ❑ 1,400 Area Measurements Area Type Measurements Factor Total Level 1 Level 2 Level 3 Other Bamt. Garage 5000 a 1600 x 1 00 = 80000 N DE D 000000 N ❑ ❑ D ❑ D ❑ D 3200 x 1600 x 100 = 512 00 29.00 a 19.00 x'01 = 551.00 000000 78 00 a 25 00 x 1 00 = 700 0o 000000 3800 x 1600 x 1 00 = 60800 ONO ODD 19.00 a 17.00 x 1.00 , 323.00 ❑ N ❑ ❑ ❑ ❑ 38 00 x 16 00 x 1 00 = 608 00 ❑ N ❑ ❑ ❑ ❑ a D D DO D D D a = a D D D ED D D a = D DD DD D D D a x = x D DEEOOD D D D xa = DO O D D D D a x = O x x El 00000 50 00 x 16.00 x 1 00 = 800 00 ❑ ❑ ❑ ❑ ❑X ❑ ❑ ❑ ❑ ❑X ❑ 3200a 16 00 x 1 00 = 51200 • 79 00 x 19 00 x 1 00 = 551 00 ❑ ❑ ❑ ❑ ❑X ❑ 50 00 x 16 00 x 1 00 = 800 00 • D ODD 000000 32 00 x 16 00 x 1 00 = 512 00 ❑X 00000 29 00 x 19 00 a 1 00 = 551 00 N 00000 26.00 x 25.00 a 1.000 = 700.00 000000 38 00 x 16 00 a 1 00 = 608 00 ❑ N ❑ ❑ ❑ ❑ 19 00 x 17 00 a 1 00 = 323 00 ❑ ❑X ❑ ❑ ❑ ❑ 38 00 a 16 00 a 1 00 = 608 00 000000 D DD D D D D D x a = = DD DD D DD D D x xa DD DD D D D x a oD a D D D D D D x 000000 DEEDED x a = D D ❑ D 00 50 00 a 16 00 x 1 00 = 800 0o a a 000000 3200 a 1600 x 10Q = 51200 ❑ D D D ❑X D 29 00 „ 19 00 „ 1 00 = 551 00 000000 000000 a a = D D D D D a „ = ■ a D DD D DD D D a = x = 000000 Produced using xuseltd.H0G :,.a,,,yr. x com Ole P$09200 SUBJECT PROPERTY PHOTO ADDENDUM Borrower: Alexander J and Gretchen M. Neudeck File No.: 080501 Llama Lane Windsor Property Address: 8961 Llama Lane Case No.: City: Windsor State: CO Zip: 80550 Lender: Western States Bank FRONT VIEW OF SUBJECT PROPERTY Appraised Date: May 5, 2008 Appraised Value: S 535,000 REAR VIEW OF SUBJECT PROPERTY STREET SCENE Borrower: Alexander J. and Gretchen M Neudeck File No.: 080501 Llama Lane Windsor Property Address: 8961 Llama Lane Case No.: City: Windsor State: CO Zip: 80550 Lender: Western States Bank COMPARABLE PROPERTY PHOTO ADDENDUM Borrower: Alexander J. and Gretchen M. Neudeck File No.: 080501 Llama Lane Windsor Property Address: 8961 Llama Lane Case No.: City: Windsor State: CO Zip: 80550 Lender: Western States Bank COMPARABLE SALE #1 8975 Llama Lane Windsor Sale Date: 8/16/2007 Sale Price: S 465,000 COMPARABLE SALE #2 933 Clydesdale Lane Windsor Sale Date: 4/7/2008 Sale Price: S 595,000 COMPARABLE SALE #3 8805 Longs Peak Circle Windsor Sale Date: 10/08/2008 Sale Price: S 585,000 COMPARABLE PROPERTY PHOTO ADDENDUM Borrower: Alexander J. and Gretchen M Neudeck File No.: 080501 Llama Lane Windsor Property Address: 8961 Llama Lane Case No.: City: Windsor State: CO Zip: 80550 Lender: Western States Bank COMPARABLE SALE #4 35070 Cornerstone Way Windsor Sale Date: 8/23/2007 Sale Price: S 650,000 COMPARABLE SALE #5 Sale Date: Sale Price: S COMPARABLE SALE #6 Sale Date: Sale Price: S LOCATION MAP Borrower: Alexander J. and Gretchen M Neudeck File No.: 080501 Llama Lane Windsor Property Address: 8961 Llama Lane Case No.: City: Windsor State: CO Zip: 80550 Lender: Western States Bank v„,„..,,,. �,,,,. MapPoint' i42Ef 19_ 13E .15.., 1 r Goun1Y-M90--78!7713r 78 IMO Mai I* 6 �iJ 17 g_CR`40 76 •�tty. Road 76 I l t to `� , CB - er, illik 4- , ?) Ci E Harmony W 4th Ave ee County Road 74 74 i 38 rRd severance n P° n Comparable Sale 4 35070 Cornerstone Wayvs I ' `' ' Windsor, CO 80550.2615 p 3r I 3 K (0.90 miles NNW) 0 County R 72 F Kec* Rd E CR-3611 i — P" 72 $ 36 fC--. Subject I 1s a e'? cc V Comparable 933 Clydesdale Sale 2 Lane 8961 Llama Lane Windsor, CO 80550-2600 Windsor, CO 80550.3135 aE v7 , (0.36 miles WNW) 13 ( C 17 9 7U Bruce E s "' -if)E I, Comparable Sale 1 :R•32E 32E, r Windsor, CO 80550-2600 21 20 W (0 06 miles WNW) V) CR-32.: -- 392 68 __ Walnut St Windsor L t 55 J 0, �; vx. ;•, g St m `--` ;:Y , L - comer I W I. s v 257 _ !?r m ,' , L. 4� O 1 CR-30 , r it Eastman Park Dr— Eastman Park Dr ___Lel „ Spar sh 0S4 , m rY y I l H,gryini k, (z• 13 - +r- V f 1 1,i1J Y1j.', • L b `' Comparable Sale 3 ig 8805 Longs Peak Circle c -, o -.2_ Windsor, CO 80550-2568 (5 40 miles SW) Yi 1 t r l U[Cbe y~ �` y�` 446,61-0, 1 260! •� 1 Ra ' \ _. ■ t ,. ) ":I. Pr_ I iCrossro3Ws avd r_ 20: Copeland . 62 i Il r Missile in SNo Park n 17 c 0 <r Road ` y :rUnt 24 Z 60 -, Gr Sag ti• j Lory N. iii- Bus ; 4 : 1 / • r 15 a s4'. I a 1reArl ._ lr • ' 1. r13 I..l. `.l4'. t" V . - 024- 1,_____,..,.... 1,1S L y!�L Us Highway _3!__ . '- _ ^y — _ 20Ce, } 21 .. 17 V e0 56 i.r I , i I z ec 3.1 f Koenig • miles ®2006 - . • Coq€2007 N0V1tQ.ltA for iel' ins .111c O Borrower: Alexander J. and Gretchen M. Needed( File No.: 080501 Llama Lane W ndsor Property Address:8961 Llama Lane Case No.: City: Wndsor State: CO Zip: 80550 Lender: Western States Bank STATE OF COLORADO Department of Regulatory Agencies Division of Real Estate ACi Cell Racoons,.Apprase nnurze ra..ea.a[wr.x I 10000023E Jan ..2300 Dec 312010 NymCIX i.m., Da c.eae. '.. y File No. 080501 Llama Lane V *********INVOICE ********* File Number: 080501 Llama Lane Windsor May 2008 Steve Sullivan Western States Bank 1298 N. College Avenue Fort Collins, CO 80524 Borrower : Alexander J. and Gretchen M. Neudeck Invoice # : Order Date : Reference/Case # : PO Number : 8961 Llama Lane Windsor, CO 80550 080501 LLama Lane Invoice Total State Sales Tax @ Deposit Deposit Amount Due Terms: Payable Upon Receipt Please Make Check Payable To: Kathy Gallivan 6766 Blue Dog Lane Loveland Colorado 80538 Fed. I.D. #: $ 350.00 $ $ 350.00 $ 0.00 ($ ) $ $ 350.00 64?:‘ Wilk COLORADO July 14, 2009 NEUDECK ALEXANDER J & 8961 LLAMA LN WINDSOR, CO 80550 Dear Petitioner(s): CLERK TO THE BOARD PHONE (970) 356-4000 EXT 4226 FAX: (970) 352-0242 WEBSITE: www.co.weld.co.us 915 10TH STREET P.O. BOX 758 GREELEY, COLORADO 80632 Parcel No.: 080709000017 Account No.: R0135288 The Weld County Board of Equalization has set a date of July 29, 2009, at or about the hour of 3:15 PM, to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Centennial Center, First Floor Hearing Room, 915 10th Street, Greeley, Colorado. You have a right to attend this hearing and present evidence in support of your petition. The Weld County Assessor or his designee will be present. The Board will make its decision on the basis of the record made at the aforementioned hearing, as well as your petition, so it would be in your interest to have a representative present. If you plan to be represented by an agent or an attorney at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the Board's Office, an authorization for the agent or attorney to represent you. If you do not choose to attend this hearing, a decision will still be made by the Board by the close of business on August 5, 2009, and mailed to you on or before August 12, 2009. Because of the volume of cases before the Board of Equalization, all cases shall be limited to 15 minutes. Also due to volume, cases cannot be rescheduled. It is imperative that you provide evidence to support your position. This may include evidence that similar homes in your area are valued less than yours or you are being assessed on improvements you do not have. Please note: The fact that your valuation has increased cannot be your sole basis of appeal. Without documented evidence as indicated above, the Board will have no choice but to deny your appeal. If you wish to obtain the data supporting the Assessor's valuation of your property, please submit a written request directly to the Assessor's Office by fax (970) 304-6433, or if you have questions, call (970) 353-3845. Upon receipt of your written request, the Assessor will notify you of the estimated cost of providing such information. Payment must be made prior to the Assessor providing such information, at which time the Assessor will make the data available within three (3) working days, subject to any confidentiality requirements. NEUDECK ALEXANDER J & - R0135288 Page 2 Please advise me if you decide not to keep your appointment as scheduled. If you need any additional information, please call me at your convenience. Very truly yours, BOARD OF EQUALIZATION C64 ... Esther E. Gesick Deputy Clerk to the Board cc: Christopher Woodruff, Assessor Hello