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Home My WebLink About20091906.tiffCLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4226 FAX: (970) 352-0242 P. O. BOX 758 GREELEY, COLORADO 80632 link COLORADO September 1, 2009 GOETZEL CORABELLE 13451 CR 64 GREELEY, CO 80631 RE: THE BOARD OF EQUALIZATION, 2009, WELD COUNTY, COLORADO - STIPULATE PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE DESCRIPTION OF PROPERTY: ACCOUNT #: R1358686 PARCEL #: 080529000049 - PT E2SW4 29-6-66 LOT B REC EXEMPT RE -247 (.25R) 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 $274,361 $217,361 2009-1906 AS0073 '. fr5 CA?eta e?n ) 094,47 GOETZEL CORABELLE - R1358686 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 2009-1906 AS0073 07 Jul 26 2009 23:06 EPMC#LA8#FAX 970 586 6916 •� WELDCOUNTYASSRSSOR !O02/003 24/2009 15:12 FAX 9703040433 w p.2 2009 COUNTY BOARD OF EQUALIZATION WELD COUNTY ASSESSO tS ACCOUNT NUMBER R1358686 STIPULATION (As To Tat Year 2009 Actual Value) RE PETITION OF: NAME: GOETZEI. CORABELLE 13451 CF'' 64 GREELE" CO 80631 Ul Petitioner(s), GOETZEL CORABELLE 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: PT E2SW4 29-6-66 LOT B REC EXEMPT RE -247 (.25R) 2.The subject properly is classified as Residential property 3. The County Assessor originally assigned the following actual value to the subject property for 2009. LANC : $171.000 IMPROVEMENTS: $103.361 TOTP L: $274.361 4.After further review and negotiation the petitioners) and Weld County Assessor agree to the follow ng actual value for the subject property. LAND: $114,000 IMPROVEMENTS: $103,361 TOTAL: $217.361 5. The valuations, as established above, shall be binding only with respect to tax year 2009. 2009-1906 6 2009 23:06 EPMC#LRB#FRX 970 586 6916 0/24/2009 15:12 FAR 9709043433 WELDCOUNTYASSESSOR •• 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. Both patties agree (hat the hearing scheduled before the Weld County Board of Equalization on 7/29/2009 at 1:30 pm be vacated. DATED this 23 day of July, 2009. p.R. Cot( (. Petitioner(s) or Attorney Address: PO ea> (4300- i Cfi 414. c345-1 cos, e r,€.ete Telephone: Gt 70 -lit 451 3° County Assessor P.3 X003/003 Petitioner(s) or Attorney Address: ©St/ Telephone: ADDRESS: 1400 N.17th Avenue Greeley, CO 80631 (970) 353-3645 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 R1358686 2009 0430 PT RE 13451 E2SW4 29-6-66 LOT B REC EXEMPT -247 (.25R) 64 CR ELD, CO 000000000 w 3 o re a. a GOETZEL CORABELLE i{' Cc QnnifSiC� 13451 CR 64 GREELEY, CO 80631 �c>etc�z� PO J OYc-t - Essec c< Co mac, t 1 J PROPERTY CLASSIFICATION ASSESSOR'S VALUATION ACTUAL VALUE PRIOR TO REVIEW ACTUAL VALUE AFTER REVIEW RESIDENTIAL 332,827 274,361 TOTAL $332,827 $274,361 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/D8 NOD* 1854 APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 1 through August 5 at 915 10`" 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 Avenue 9tH 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 for real property pursuant to § 39-8-106(1.5), C.R.S.) $ � �, r' & CO . (.. , 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.) hovt L jot "The i nrIirj cc5S<'SoAPI,4' Z�•fhrc;��il'� Q CPU�'(;�J hczd YJec'1'1. n\4aQ n c' ,(v� n '�ic:Q vrc l`3bOcL di i-t_2en C«v-' 4c'\ "1,(8 J S- C-tvh `-QQ (X'c`n4 €40Ex�-rrk4-(JQ. Soy tii er r ,b,)tL-' & Aa—}I nCP i,1/4"..e C@Se L -AI n `f k.1S fcc-V 'tq`'(t J (sek) Med ATTESTATION I, the undersigned owner or agent' of the property identified above, affirm that the statements ro inec1 herei and on. -any attach rtts hereto re true and complete. f�-viENt4,,-tr Si (9170 t t,• (3C) 7/9 /2Ccc,,? Signature Telephone Number Date ' Attach letter of authorization signed by property owner. 15-DPT-AR PR 207-08/08 NOD #: 1850 kQVC' v1iD0k->A 1,4k BSc?lti'rCl YZr-1 Q ;4c dd o- tA1-1S. j: Ch CVC lltic`yk w<« ike \ ll�t_ DISPOSITION CE IITIFIFA 1 2 3 4 8 CAUSE OF DEATH STATE OF COLORADO COLORADO DEPARTMENT OF PUBLiC HEALTH AND ENVIRONMENT HOLD TO LIGHT TO VIEW WATERMARK STATE OF COLORADO CERTIFICATE OF DEATH STATE FILE NUMBER '1 DECEDENTS NAME ,f ',sr. MAO -Jo. Lasrl Corabelle GOETZEL 2. SE% Female 3. DATE OF DEATH( Month. Day, Yam) January 26, 2009 4. SOCIAL SECURITY NUMBER 524-58-1161 5a. AGE • Last Birthday:Yea's) 89 5b. UNDER 1 YEAR Sc. UNDER 1 DAY d. DATE OF GIRTH (Morin, Day. Year) September 19, 1919 7. BIRTHPLACE (City and Stare or Foreign COunfryl Greeley, Colorado :Aux � ;)aYs His Min, 8. WAS DECEDENT EVER IN U.S. ARMED FORCES? L7 Yos KN. Ra PLACE OF DEATH (Check cr.:). one) HOSPITAL: r OTHER :. Inpatmnt I: I:R/Outpahenl G DOA I 'Nursing Home X Residence 0 Other iSoeDily) 9b. FACILITY NAME Ur nor mahtoMOn, give arrcot any number) 13451 Weld County Road 64 ` 9C. GTY, TOWN, OR LOCATION OF DEAT H Greeley flo. COUNTY OF DEATH Weld Ma. DECEDENT'S USUAL OCCUPATION Give kind or wort done dunng most of workrn p so,. Do no: use mimed.) Teacher t0b. KIND OF BUSINESS/INDUSTRY Elementary Education 1I. MARITAL STATUS- Married, Never Married, Watowe d, Divorced (Speedy) Widowed 12. SPOUSE Ili wire, give maiden name) Lester Goetzel 13a. RESIDENCE -STATE Colorado 13h. COUNTY Weld 130. CITY, TOWN, OR LOCATION Greeley 13d. STREET AND NUMBER 13451 Weld County Road 64 13e. INSIDE CITY LIMITS? D Yes PENS 131. ZIP CODE 80631 I4. WAS DECEDENT OF HISPANIC ORIGIN? 1SpendS No or Yes - H yes. nPeodY Cube,,, Mexican, Poerto Rican, etc.) )$ No ❑ Yes SpecnY. 15, RACE American lndIan, aleck Wlnte, etc.ISpeUrY) White 1e. DECEDENTS EDUCATION (Specfy only highest ppredo h 72tedl Elementary 0/ S000ndsrryy (D Inrouph 121 College (t 3 lh,os h 1 E or 17+) 16 )t7. FATHER -NAME (First Middle, Last) Achilles Brogan Owen'..-- 18, MOTHER -NAME (First, Middle, Last(Maiden Name)) Florence Bliss 19. INFO NT -NAME and relationship to deceased. David D. Goetzel— Son )20a. METHOD OF DISPOSITION R Burfal D Cremation 0 Removal from State 0 Donation D Other(SFreciryl 20b. PLACE OF DISPOSITION (Name ores.e eery, crematory, or diner place) Linn Grove Cemetery • 200. LOCATION -City or Town, State reeley, CO -- 21a. SIGNATURE OF FUNERAL DIRECTOR OR PERSON ACTING AS SUCH OW'— % ( (} r � 21b. NAME AND ADDRESS OF FACILITY: Allnutt Funeral Service —Macy Chapel 702 13th Street Greeley, CO ZIP: 80631 !2e. REfT SSIGNA RE I J . 1 DE/`� DEPDT7C.• 23. E DEA 2a. RONOUNCED DEAD Month Day Yea. MID A M January 26 2009 TO BE COMPLETED ONLY BY CERTIFYING PHYSICIAN 25. To the best of my knbwlea9e, death occurred at the fame. date end place, and due to the cause(st and manner as stated. 21enat0re , 28 DATE SIGNED {Month. Day, Year) 30. NAME, TITLE AND MAILING ADDRESS OF CERTIFIER/CORONER I7ype/Pont) February 3, 2009 25. WAS CORONER NOTIFIED? Hour (Yes or NO) 1005 YES TO BE COMPLETED BY C • RONER 27. On the basis of exam' time. 0016 and pia Signature, 29. DATE SIGNE and/ormveahg. On in my opinion death occurred at the due to the c use I ants -manner s stated. Q (Mo M1. Day, Year) February 2,'2009 Marcia Vincent Deputy Coroner 905 10th Ave Greeley, CO J/. NAME OF ATTENDING PHYSICIAN 1F OTHER THAN CERTIFIER IYyp0/PMot) ,)32. MANNER OF DEATH X Natural O Accident ❑ Suicide ❑ Homicide o Pending Inrestipetidn ❑ Undetermined Manner 33.. DATE OF INJURY (Month, Day, Year( 335 TIME OF INJURY M 330 INJURY AT WORK? O Yes D No 33e. PLACE OF INJURY -At Some. farm, sheet, factory. Otte building, etc. (Specify) 33d. DESCRIBE HOW INJURY OCCURRED ziP 80631 33a LOCATION (Street end Number or Rural Route Number. Cary. County, Stale) 34. IMMEDIATE CAUSE !ENTER ONLTONE CAUSE PER LINE FOR (.), IDJ, AND Ic1J Do not enter mode of dying (e.g. Cardiac or flespn .lOry Arreet)elone. PART 1e Sudden Cardiac Death CONDITIONS DUE TO 015AS A CONSEQUENCE OF IF ANY WHICH GAVE RISE TO (b) Chronic Atrial Fibrillation and CHF IMMEDIATE CAUSE STATING THE DUE TO OR AS A CONSEOUENCE OF: UNDERLYING CAUSE LAST (c) Io)Rheumatic disease, mitre' valve PART OTHER SIGN IFICANTCONDRIONS -Conditions contributing to death but not related to cause in I I PART 1 (e.g, alcohol abuse. obesity. smoker). Osteoporosis, GERD DATE ISSUED FEB03Z009 3 ZOQs THIS IS A TRUE CERTIFICATION OF NAME AND FACTS AS RECORDED IN THIS OFFICE. Do not accept unless prepared on security paper with engraved border displaying the Colorado state seal and signature of the Registrar. PENALTY BY LAW, Section 25-2-118, Colorado Revised Statutes. 1982, if a person alters, uses, attempts to use or furnishes to another for deceptive use any vital statistics record. NOT VALID IF PHOTOCOPIED. 35. AUTOPSY (Yea or No) NO liOll q Interval between onset and death Minutes Interval between onset and death Years Interval between onset and death • Years 38. IF YES were findings ooneidered In determining cause of deslh? NO S RONALD S. HYMAN STATE REGISTRAR i ui 0 0 4 4 4 1 6 6 8 REV 01/07 NANY ALTERATION OA ERASURE VOIDS THIS CERTIFIC TATAE 31 ....:C: 'fi 'nT ' v,'I. :\/.4 v 1fil6IV;ii �p�\Atxglq III1 [File No. 13451 WCR 64 Ranch Page #1 Austin & Austin Appraisal Services 918 13th Street Greeley CO 80631 Corbelle Goetzel Estate Re: Property: 13451 WCR 64 Greeley, CO 80631 Borrower: Goetzel File No.: Northwest Greeley In accordance with your request, we have appraised the above referenced property. The report of that appraisal is attached. The purpose of this appraisal is to estimate the market value of the property described in this appraisal report, as improved, in unencumbered fee simple title of ownership. This report is based on a physical analysis of the site and improvements, a locational analysis of the neighborhood and city, and an economic analysis of the market for properties such as the subject. The appraisal was developed and the report was prepared in accordance with the Uniform Standards of Professional Appraisal Practice. The value conclusions reported are as of the effective date stated in the body of the report and contingent upon the certification and limiting conditions attached. It has been a pleasure to assist you. Please do not hesitate to contact me or any of my staff if we can be of additional service to you. Sincer on A Sick CR01320540 Certified Residential Appr. Borrower Goetzel File No, 13451 WCR 64/Ranch Property Address 13451 WCR 64 City Greeley County Weld State CO Zip Code 80631 Lender Corbelle Goetzel Estate TABLE OF CONTENTS Letter of Transmittal 1 Summary of Salient Features Res. (automatic) 2 USPAP Identification 3 URAR 4 Additional Comparables 4-6 10 General Text Addendum 11 Subject Photos 12 Photograph Addendum 13 Photograph Addendum 14 Comparable Photos 1-3 15 Comparable Photos 4-6 16 Building Sketch (Page - 1) 17 Location Map 18 Location Map 19 GP Residential Certifications Addendum 20 Form TOCP — "WinTOTAL" appraisal software by a la mode, inc. —1-800-ALAMODE File No. 13451 WCR 64/Ranch] Pane #2J SUMMARY OF SALIENT FEATURES z o s m z E r Subject Address Legal Description City County State Zip Code Census Tract Map Reference 13451 WCR 64 Pt of the E2SW4 29-6-66 Lot B Rec Exempt Re -247 Greeley Weld Co 80631 17 3060 a a Li- Sale Price Date of Sale $ n/a n/a F- z Borrower Lender Goetzel Corbelle Goetzel Estate N m a 0 o m a 00 O Size (Square Feet) Price per Square Foot Location Age Condition Total Rooms Bedrooms Baths 1,318 $ West Greeley 1909 Fair 6 3 .75 E5 u cc a a Appraiser Date of Appraised Value Kenton A Sick 05/18/2009 Lu a Final Estimate of Value $ 130,000 Form SSD — "WinT0TAL" appraisal software by a la mode, inc. —1-800-ALAM0DE www.AustinAustinAppraisal.com [File No. 13451 WCR 64/Ranch' Page #3J Borrower• Goetzel File No. 13451 WCR 64/Ranch Property Address 13451 WCR 64 City Greeley County Weld State Co Zip Code 80631 Lender Corbelle Goetzel Estate CO This ❑ I ❑ Appraisal Report is one of the following types: Self Contained (A written report prepared under Standards Rule 2-2(a) , persuant to the Scope of Work, as disclosed elsewhere in this report.) Summary (A written report prepared under Standards Rule 2-2(b) , persuant to the Scope of Work, as disclosed elsewhere in this report.) Restricted Use (A written report prepared under Standards Rule 2-2(c) , persuant to the Scope of Work, as disclosed elsewhere in this report, restricted to the stated intended use by the specified client or intended user.) 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 unbiased professional analyses, opinions, and conclusions. • I have no (or the specified) present or prospective interest in the property that is the subject of this report and no (or the specified) personal interest with respect to the parties involved. • I have no bias with respect to the property that is the subject of this report 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 occurrence of a subsequent event directly related to the intended use of this appraisal. • My analyses, opinions and conclusions were developed and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. • I have (or have not) made a personal inspection of the property that is the subject of this report. • No one provided significant real property appraisal assistance to the person signing this certification. (If there are exceptions, the name of each individual providing significant real property appraisal assistance is stated elsewhere in this report.) Comments on Appraisal and Report Identification Note any USPAP related issues requiring disclosure and any State mandated requirements: As you have requested, I have preformed a complete interior and exterior inspection the subject property. The scope of this appraisal is to provide a Summary report for the use of the client. The purpose of this inspection and analysis is to establish an estimate of "Market Value" of the subject real estate as of the appraisal date. Market Value as used herein is defined as 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 and 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 good title from seller to buyer under conditions whereby: 1. buyer and seller are typically motivated; 2. both parties are well informed and well advised, and acting in what they consider their own best interest; 3. a reasonable period of time is allowed for exposure in the open market; 4. payment is made in term of cash in U.S. dollars or in term of financial arrangements comparable thereto; and 5. the price represents normal consideration for the property sold unaffected by special or creative financing or sales concessions granted to anyone associated with the sale, or other special or creative terms, services, fees, costs, or credits involved in the transaction. As defined by Fannie Mae. This report was performed under USPAC guidelines. **DIGITAL SIGNATURES: The signature affixed to this report and certification were applied by the original appraiser and represent his acknowledgement of the facts, opinions and conclusions found in the report. The appraiser applied his signature electronically using a password encrypted method, Hence this signature has more safeguards and carry the same validity as the individual's hand applied signature. It the report has a hand -applied signature, this comment does not applied. If any changes are made to this report the signature will automatically be removed. APPRAISER: SUPERVISORY APPRAISER (only If required): o Signature: Signature: Name: n ck Name: Date Signed: 05/28/2009 Date Signed: State Certification t CR01320540 State Certification #: or State License #: or State License #: State: co State: Expiration Date of Certification or License: 12/31/2010 Expiration Date of Certification or License. Supervisory Appraiser inspection of Subject Property: Effective Date of Appraisal: 05/18/2009 ❑ Did Not ❑ Exterior -only from street ❑ Interior and Exterior Form IDO6 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE Summary Appraisal Report www.AusfinAustinAppraisal.com Uniform Residential Appraisal Report [File No. 13451 WCR 64/Ranchl Page #4[ Northwest Greeley 1 The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property. Property Address 13451 WCR 64 City Greeley State co Zip Code 80631 Borrower Goetzel Owner of Public Record Goetzel County Weld Legal Description Pt of the E2SW4 29-6-66 Lot B Rec Exempt Re -247 Assessor's Parcel # 080529000049 Tax Year 2008 R.E. Taxes $ 1,091 Neighborhood Name Greeley -Windsor Map Reference 3060 Census Tract 17 Occupant gl Owner ❑ Tenant ❑ Vacant Special Assessments $ 0.00 ❑ PUD HOA $ ❑ per year E per month Pro.e Ri.hts A.. raised /1 Fee Sim le ❑ Leasehold ❑ Other describe Assignment Type ■ Purchase Transaction ❑ Refinance Transaction ® Other (describe) Pre -Marketing Lender/Client Corbelle Goetzel Estate Address Is the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal? ❑ Yes ►/ No Report data source(s) used, offering price(s), and date(s). MLS I E did ■ 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. Contract Price $ n/a Date of Contract n/a Is the property seller the owner of public record? ❑ Yes ❑ No Data Source(s) Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower? ❑ Yes ❑ No v If Yes, report the total dollar amount and describe the items to be paid. Note: Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood Characteristics One —Unit Housing Trends One -Unit Housing Present Land Use % Location ❑ Urban ❑ Suburban Z Rural Property Values ❑ Increasing ❑ Stable /1 Declining PRICE AGE One -Unit so % Built -Up ® Over 75% E 25-75% ❑ Under 25% Demand/Supply ❑ Shortage ❑ In Balance /1 Over Supply $ (000) (yrs) 2-4 Unit % Growth ❑ Rapid /1 Stable ❑ Slow Marketing Time ❑ Under 3 mths ❑ 3-6 mths /1 Over 6 mths 50 Low o Multi -Family %, , Neighborhood Boundaries H 292 to the north, Hi.hwa 85 to the east, WCR 25 to the west, Hi.hwa 34 to the 1,000 H too Commercial % south. 300 Pred. 30 Other 10 % Neighborhood Descridion The area is northwest of Greele with a countr settin.. The residential .ro.erties are located on tracts ran.in. from 2-15 acres. The vacant land noted is due to the area surrounding the residences is primarily used in production of agriculture. The area is considered over 75% built-up due to the counties land use restrictions. Market Conditions (including support for the above conclusions) Although values have declined recent trends have stabilized. Financing concessions prevalent. Greeley/MLS data reflects as of 03/2009, 33% reduction in active listings, 8.8% reduction in DOM, 23.7% Increase in Sale Volume as same month of the previous _ ear, total year to date sale volume is up 9.4% . This data supports a flatting trend line and stabilization of values. Dimensions Irregular Area 2.85 Acres Shape Irregular View Open Specific Zoning Classification AO Zoning Description Agriculture Open/Residential Permitted Zoning Compliance X Legal ❑ Legal Nonconforming (Grandfathered Use) ❑ No Zoning ❑ Illegal (describe) Is the highest and best use of subject property as improved (or as proposed per plans and specifications) the present use? X Yes ❑ No If No, describe Utilities Public Other (describe) Public Other (describe) Off -site Improvements - Type Public Private Electricity X ❑ Water X ❑ Street Asphalt /1 ❑ w Gas ❑ // Propane Sanitary Sewer ❑ r Septic Alley None E E FEMA Special Flood Hazard Area ❑ Yes /1 No FEMA Flood Zone c FEMA Map # 0802660750C FEMA Map Date 9/28/1982 Are the utilities and oft -site improvements typical for the market area? X Yes E No If No, describe Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? ❑ Yes Z No If Yes, describe See attached addenda. General Description Foundation Exterior Description materials/condition Interior materials/condition Units gl One E One with Accessory Unit ❑ Concrete Slab E Crawl Space Foundation Walls Rock/avg Floors CrpWinyl/avq # of Stories 1 /1 Full Basement ❑ Partial Basement Exterior Walls Wood/Fair Walls Plaster/fair Type X Det. ❑ Att. ❑ S-Det./End Unit Basement Area 1,000 sgft. Roof Surface Comp/gd Trim/Finish Wd/pntd&stnd/fair // Existing ❑ Proposed ❑ Under Const. Basement Finish o % Gutters & Downspouts Metal/avq Bath Floor vinyl/avq Design (Style) Ranch ❑ Outside Entry/Exit • Sump Pump Window Type Wood/avg Bath Wainscot unit/avg Year Built 1909 Evidence of ❑ Infestation Storm Sash/Insulated SP/fair Car Storage ❑ None Effective Age (Y s) 25 ❑ Dampness E Settlement Screens Yes/fair /1 Driveway # of Cars 5 Attic ❑ None Heating '❑ FWA I❑ HWBB l[Z Radiant Amenities ❑ Woodstove(s) # Driveway Surface Gravel ❑ Drop Stair E Stairs ❑ Other Fuel Propane ❑ Fireplace(s) # ❑ Fence /1 Garage # of Cars 1CGarage ❑ Floor I Scuttle Cooling ❑ Central Air Conditioning ❑ Patio/Deck Z Porch Enclosed ❑ Carport # of Cars r ❑ Finished ❑ Heated ❑ Individual in Other ❑ Pool ❑ Other ❑ Att. ►/ Det. ❑ Built-in Appliances Z Refrigerator Z Range/Oven ❑ Dishwasher ❑ Disposal ❑ Microwave ❑ Washer/Dryer ❑ Other (describe) Finished area above grade contains: 6 Rooms 3 Bedrooms .75 Bath(s) 1,318 Square Feet of Gross Living Area Above Grade . Additional features (special energy efficient items, etc.). see attached addenda. Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.). There are no apparent external inadequacies. The construction quality is typical for the area. Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? ❑ Yes IX No If Yes, describe Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? /1 Yes ❑ No If No, describe Freddie Mac Form 70 March 2005 Page 1 of 6 Form 1004 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE Fannie Mae Form 1004 March 2005 rFile No. 13451 WCR 64/Ranch' Page #51 Uniform Residential Appraisal Resort Northwest Greeley File# 13451 WCR 64/Ranch There are 35 comparable properties currently offered for sale in the subject neighborhood ranging in price from $ 80,000 to $ 300,000 There are 55 comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ 80,000 to $ 300,000 FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 I COMPARABLE SALE # 3 Address 13451 WCR 64 Greeley, CO 80631 25307 WCR 50 Kersey, CO 80644 32438 WCR 57 Gill, CO 80624 13276 WCR 64 Greeley, CO 80631 Proximity to Subject 13.09 miles SE 14.08 miles E 0.45 miles E Sale Price $ n/a $ 123,000 $ 135,000 $ 140,000 Sale Price/Gross Liv. Area $ sq.ft. $ 94.91 sq.ft. $ 114.02 sq.ft. $ 108.02 sq.ft. Data Source(s) MLS/Agent----SP/LP == 100% MLS/Agent SP/LP == 80% MLS/Agent SP/LP == 100% Verification Source(s) MLS 580587/DOM 111 MLS 585673/DOM 19 MLS 585068/DOM 32 VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment Sales or Financing Concessions FHA 95% Seller Paid 3% Cash None FHA 95% Seller Paid 3% Date of Sale/Time 02/24/2009 0/06/2009 02/13/2009 Location West Greeley S Kersey Gill East Greeley Leasehold/Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple Site 2.85 Acres 1 Acre +10,000 10 Acres -15,000 2 Acres View Open/Gravel Pit Open Open Open Design (Style) Ranch Split-level Ranch Ranch Quality of Construction Average Average Average Average Actual Age 1909 1976 1910 1900 Condition Fair Fair Fair Average -7,500 Above Grade Room Count Gross Living Area Total Bdrms. Baths Total Bdrms, Baths Total Bdrms. Baths Total Bdrms. Baths 6 3 .75 6 3 1.75 -3,000 5 2 1 -1,000 5 2 1 -1,000 1,318 sq.ft. 1,296 sq.tt. +600 1,184 sq.tt. +3,400 1,296 sq.ft. +600 Basement & Finished Rooms Below Grade 1,000 Sq.Ft. None 936sf/95%F 2BdFr -8,300 Crawlspace None +1,500 648st/90%F 2BdBa -7,200 = Functional Utility Typical Typical Typical Typical Heating/Cooling Radiant Gas FA -2,500 FA -2,500 FA -2,500 Ener Efficient Items T .ical T •ical T •ical T •ical • Garage/Carport CGarage 1CG-att -2,000 No Garage +3,000 2CGarage -5,000 Porch/Patio/Deck EnclsdPorch Deck +1,000 Patio +1,000 Patio +1,000 w Amenities None Stove -1,000 None None a Landscaping Average Average Average Average • Outbuildings Numerous None +15,000 Barn/LoafingShed LrgLoafinq Shed +10,000 • Net Adjustment (Total) [X + ❑ - $ 9,800 ❑I + y - $ -9,600 ❑ + iD - $ -11,600 Adjusted Sale Price of Comparables Net Adj. 8.0 % Gross Adj. 35.3 % $ 132,800 Net Adj. 7.1 % Gross Adj. 20.3 % $ 125,400 Net Adj. 8.3 % Gross Adj. 24.9 % $ 128,400 I Z did ❑ did not research the sale or transfer history of the subject property and comparable sales. If not, explain My research X did 5 did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal. Data Source(s) Weld County Record My research ® did 5 did not reveal 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 Records Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3). ITEM SUBJECT COMPARABLE SALE #1 COMPARABLE SALE #2 COMPARABLE SALE #3 Date of Prior Sale/Transfer n/a 06/07/2006 10/15/2008 10/21/2008 Price of Prior Sale/Transfer 0.00 Public Trust Deed Special Warranty Deed Public Trust Deed Data Source(s) Public Records Public Record Public Record Public Record Effective Date of Data Source(s) 04/2009 03/2009 03/2009 03/2009 Analysis of prior sale or transfer history of the subject property and comparable sales All prior transfers are listed above Summary of Sales Comparison Approach See attached addenda. _ Indicated Value by Sales Comparison Approach $ 130,000 Indicated Value by: Sales Comparison Approach $ 130,000 Cost Approach (if developed) $ 145,771 Income Approach (if developed) $ • This appraisal is made completed, ❑ subject • following required inspection /1 to "as is", 5 subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or 5 subject to the based on the extraordinary assumption that the condition or deficiency does not require alteration or repair: Subject is appraised As -Is with the knowledge that the electric wiring will need to be addressed. Current condition will not Quality for FHA or USDA financing. Based on a complete visual inspection of the interior and exterior areas of the subject conditions, and appraiser's certification, my (our) opinion of the market value, as defined, $ 130,000 ,as of 05/18/2009 , which is the date of inspection property, defined scope of work, statement of assumptions and limiting of the real property that is the subject of this report is and the effective date of this appraisal. Freddie Mac Form 70 March 2005 Page 2 of 6 Form 1004 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE Fannie Mae Form 1004 March 2005 `File No. 13451 WCR 64LRanch_Pagge #6] Northwest Greeley File# 13451 WCR 64/Ranch Uniform Residential Appraisal Report m F z w 5 • . a z a . 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 X REPRODUCTION OR ❑ REPLACEMENT COST NEW OPINION OF SITE VALUE _$ 35,000 . Source of cost data Marshall & Swift DWELLING 1,318 Sq.Ft. @ $ 70.00 =$ 92,260 : Quality rating from cost service Average Effective date of cost data 04/2009 1,000 Sq.Ft. @ $ 15.00 =$ 15,000 Comments on Cost Approach (grass living area calculations, depreciation, etc.) Appl/Fixtures/Outbuildings =$ 65,500 Garage/Carport Sq.Ft. @ $ _• Total Estimate of Cost -New =$ 172,760 Less Physical Functional External Depreciation 71,989 =$( 71,989) Depreciated Cost of Improvements =$ 100,771 "As -is" Value of Site Improvements _$ 10,000 Estimated Remaining Economic Lite (HUD and VA only) 35 Years INDICATED VALUE BY COST APPROACH =$ 145,771 INCOME APPROACH TO VALUE (not required by Fannie Mae) Estimated Month l Market Rent $ X Gross Rent Multi dier = $ Indicated Value b Income Ar 'roach Summa of Income Ar 'roach includin suort for market rent and GRM PROJECT INFORMATION FOR PUN (if applicable) Is the developer/builder in control of the Homeowners' Association (HOA)? ❑ Yes i No Unit type(s) ❑ Detached ❑ Attached Provide the following information for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit. Legal Name of Project 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) Was the project created by the conversion of existing building(s) into a PUD? C Yes ❑ No If Yes, date of conversion. • Does the project contain any multi -dwelling units? ❑ Yes ❑ No Data Source Are the units, common elements, and recreation facilities complete? ❑ Yes ❑ No If No, describe the status of completion. Are the common elements leased to or by the Homeowners' Association? LI Yes ] No If Yes, describe the rental terms and options. Describe common elements and recreational facilities. Freddie Mac Form 70 March 2005 Page 3 of 6 Form 1004 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE Fannie Mae Form 1004 March 2005 File No. 13451 WCR 64/Ranch] Page #71 Uniform Residential Appraisal Report Northwest Greeley File# 13451 WCR 64/Ranch This report form is designed to report an appraisal of a one -unit property or a one -unit property with an accessory unit; including a unit in a planned unit development (PUD). This report form is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project. This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value, statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intended use, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's continuing education or membership in an appraisal organization, are permitted. SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources, and (5) report his or her analysis, opinions, and conclusions in this appraisal report. INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of this appraisal for a mortgage finance transaction. INTENDED USER: The intended user of this appraisal report is the lender/client DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with the sale. *Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the following assumptions and limiting conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it, except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opinions about the title. 2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements. The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determination of its size. 3, The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand, or as otherwise required by law. 5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the research involved in performing the 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 Form 1004 — "WinT0TAL" appraisal software by a la mode, inc. — 1-800-ALAM0DE Fannie Mae Form 1004 March 2005 File No. 13451 WCR 64JnchLPage #8] Uniform Residential Appraisal Report Northwest Greeley File # 13451 WCR 64/Ranch APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: 1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report. 2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition of the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the livability, soundness, or structural integrity of the property. 3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 4. I developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop them, unless otherwise indicated in this report. 5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior 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 Form 1004 — "WinT0TAL" appraisal software by a la mode, inc. — 1-800-ALAM0DE Fannie Mae Form 1004 March 2005 [He No. 13451 WCR 64/Ranch Page #9 Uniform Residential Appraisal Report Northwest Greeley File# 13451 WCR 64/Ranch 21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of the borrower; the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; other secondary market participants; data collection or reporting services; professional appraisal organizations; any department, agency, or instrumentality of the United States; and any state, the District of Columbia, or other jurisdictions; without having to obtain the appraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, public relations, news, sales, or other media). 22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain laws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me. 23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any mortgage finance transaction that involves any one or more of these parties. 24. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. 25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/or criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 1001, et seq., or similar state laws. SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that: 1. I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 2. I accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 3. The appraiser identified in this appraisal report is either a sub -contractor or an employee of the supervisory appraiser (or the appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law. 4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 5. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. APPRAISER / / /r , SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature Signature Name Name Company Name Company Name Company Address Company Address Austin & Austin Appraisal Services 918 13th St, Suite 1, Greeley, CO 80631 Telephone Number (970) 353-0790 Telephone Number Email Address kent@greeley-homes.com Date of Signature and Report 05/28/2009 Date of Signature Effective Date of Appraisal 05/18/2009 State Certification # State Certification # CR01320540 Email Address or State License # or State License # State or Other (describe) State # Expiration Date of Certification or License State co Expiration Date of Certification or License 12/31/2010 SUBJECT PROPERTY ADDRESS OF PROPERTY APPRAISED 13451 WCR64 Greeley, CO 80631 APPRAISED VALUE OF SUBJECT PROPERTY $ 130,000 LENDER/CLIENT Name Company Name Corbelle Goetzel Estate Company Address Email Address ❑ Did not inspect subject property ❑ 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 H Did inspect exterior of comparable sales from street Date of Inspection Freddie Mac Form 70 March 2005 Page 6 of 6 Form 1004 — "WinT0TAL" appraisal software by a la mode, inc. — 1-800-ALAM0DE Fannie Mae Form 1004 March 2005 File No. 13451 WCR 64/Ranch] Page #10 Northwest Greeley File# 13451 WCR 64/Ranch Uniform Residential Appraisal Report FEATURE I SUBJECT COMPARABLE SALE #4 COMPARABLE SALE #5 COMPARABLE SALE #6 Address 13451 WCR 64 Greeley, CO 80631 316 21st Ave Greeley, CO 80631 Proximity to Subject 4.90 miles E Sale Price $ n/a $ 144,900 $ $ Sale Price/Gross Liv. Area $ sq.ft. $ 172.50 sq.ft. S sq.ft. $ sq.tt. Data Source(s) MLS/Agent Verification Source(s) MLS 596562/DOM 48 VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment Sales or Financing Concessions Active 5% -,245 Date of Sale/Time n/a = Location West Greeley N Greeley +5,000 O Leasehold/Fee Simple Fee Simple Fee Simple Site 2.85 Acres 1.5 Acres +5,000 • View Open/Gravel Pit Open Design (Style) Ranch Ranch • Dual i of Construction Average Average Actual Age 1909 1930 Condition Fair Good/U.dated -10,000 u Above Grade Room Count Gross Living Area Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdnns. Baths 6 3 .75 6 2 1 -1,000 1,318 sq.tt. 840 sq.ft. sq.ft. qt. Basement & Finished Rooms Below Grade 1,000 Sq.Ft. None 392sf/0%F None Functional Utility Typical Typical Heating/Cooling Radiant Gas Radiant Gas Energy Efficient Items Typical Typical Garage/Carport 1CGarage No Garage +3,500 Porch/Patio/Deck EnclsdPorch Patio +1,000 Amenities None None Landscaping Average Average Outbuildings Numerous Shed +7,500 Net Adjustment (Total) X + ❑ - $ 3,755 ` I + ❑ - $ ❑ + ❑ - $ Adjusted Sale Price of Comparables Net Adj. 2.6 % Gross Adj. 27.8 % $ 148,655 Net Adj. % Gross Adj. % $ Net Adj. % Gross Adj. % $ _ Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3). ITEM SUBJECT COMPARABLE SALE # 4 COMPARABLE SALE # 5 COMPARABLE SALE # 6 Date of Prior Sale/Transfer n/a 11/12/2008 >. Price of Prior Sale/Transfer 0.00 Public Trust Deed Data Source(s) Public Records Public Record Effective Date of Data Source 04/2009 03/2009 Analysis of prior sale or transfer history of the subject property and comparable sales Analysis/Comments F 2 W • V i rA 2 2 Q Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005 Form 1004.(AC) — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE (File No. 13451 WCR 64/Ranch{ Page #11 Supplemental Addendum File NO.13451 WCR 64/Ranch Borrower Goetzel Property Address 13451 WCR 64 City Greeley County Weld State CO Zip Code 80631 Lender Corbelle Goetzel Estate • URAR : Site No survey was provided to the appraiser; inspection of the site and public records provided all information regarding easements and possible encroachments, but cannot be relied upon. The site is located on WCR 64 northwest of Greeley in the Windsor school boundaries. There a number of large mature trees, some dead trees, lawn area surrounding the house. direct across WCR 64 to the south is a large gravel mine. The septic system is assumed to be meet Health Department's Standards, sepic system is typical and public sewer is not available. Water is provided by North Weld Water District. It is typical for the septic to be pumped at the sellers expense prior to the sale. • URAR : Additional Features The subject is an old farmstead described as follows: enclosed porch; 9' main floor wall height, painted tim; dining room with corner hutch; kitchen with painted wood cabinets; three bedrooms and a 3/4 bath; basement has limited utility due to ceiling height and half the floor area being dirt. Deferred maintenance items: Water stained ceiling in the porch; Peeling exterior paint; Knob and Tube electrical (this is not acceptable and needs to be updated/Addressed) Dead Trees; Outbuildings: Numerous outbuildings in fair condition and in need of general maintenance, some in need of being razed. 1. 18x30 shop building. 2. 10x22 Single Car garage. 3. 15x30 Chicken House. 4. 20x40 Open face shed -poor condition 5. 30x100 Potato shed 6. 12x120 open face -poor condition 7. 24x50 openfaced shed -poor condition 8. 30x120 barn. 9. 15x50 Grainery 10. 15x20 storage shed. • URAR : Sales comparables Sale #1 is a HUD owned split-level house with mold issues. This house is a newer split level house was sold in an AS -IS condition. It has an attached single car garage but no significant outbuilding. Sale #2 is a on old farm house which the agent states is a "fixer -upper" deemed similar to the subject. It has a larger site and but no garage. There is a large traditional styled barn and loafing shed deemed similar amenity to the subject'soutbuidlings. Sale #3 is a cottage styled farm house located on two acres with in a half mile of the subject. It is in average condition and passing FHA standards. It is very similar in size and includes a partly finished basement. There is a large loafing shed and other old outbuildings. Comparable #4 is the only similar listing and is located in north Greeley. This house has been completely updated including electrical, kitchen and bathroom. The subject is placed in favor of Sale #3 which is located very near the subject. Form TADD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE File No. 13451 WCR 64/Ranch Subject Photo Page Page #12 Borrower Goetzel Property Address 13451 WCR 64 _ City Greeley County Weld State CO Zip Code 80631 Lender Corbelle Goetzel Estate Subject Front 13451 WCR 64 Sales Price n/a Gross Living Area 1,318 Total Rooms 6 Total Bedrooms 3 Total Bathrooms .75 Location West Greeley View Open/Gravel Pit Site 2.85 Acres Quality Average Age 1909 Subject Rear Subject Street Form PICPIX.SR — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE File No. 13451 WCR 64/Ranch Photograph Addendum Page #13 Borrower Goetzel _ Property Address 13451 WCR 64 City Greeley County Weld State Co Zip Code 80631 Lender Corbelle Goetzel Estate Bathroom Heat source Kitchen & Heat Source Ceilings Cracks Dining Room Bedroom Form PICSIX2 — "WinTOTAL" appraisal software by a la mode, inc. —1-800-ALAMODE Borrower Goetzel Prose Address 13451 WCR 64 Ci Lender Greele Corbelle Goetzel Estate Coun Weld State CO ZIP Code 80631 • Comparable Photo Page File No. 13451 WCR 64/Ranch Page #15 Borrower Goetzel Property Address 13451 WCR 64 City Greeley County Weld State CO Zip Code 80631 Lender Corbelle Goetzel Estate Comparable 1 25307 WCR 50 Prox. to Subject 13.09 miles SE Sale Price 123,000 Gross Living Area 1,296 Total Rooms 6 Total Bedrooms 3 Total Bathrooms 1.75 Location s Kersey View Open Site 1 Acre Quality Average Age 1976 Comparable 2 32438 WCR 57 Prox. to Subject 14.08 miles E Sale Price 135,000 Gross Living Area 1,184 Total Rooms 5 Total Bedrooms 2 Total Bathrooms 1 Location Gill View Open Site 10 Acres Quality Average Age 1910 Comparable 3 13276 WCR 64 Prox. to Subject 0.45 miles E Sale Price 140,000 Gross Living Area 1,296 Total Rooms 5 Total Bedrooms 2 Total Bathrooms 1 Location East Greeley View Open Site 2 Acres Quality Average Age 1900 Form PICPIX.CR — "WinTOTAL" appraisal software by a la mode, inc. —1-800-ALAMODE File No. 13451 WCR 64/Ranch Comparable Photo Page Page #16 Borrower Goetzel Property Address 13451 WCR 64 City Greeley County Weld State CO Zip Code 80631 Lender Corbelle Goetzel Estate Comparable 4 316 21st Ave Prox. to Subject 4.90 miles E Sales Price 144.900 Gross Living Area 840 Total Rooms 6 Total Bedrooms 2 Total Bathrooms 1 Location N Greeley View Open Site 1.5 Acres Quality Average Age 1930 Comparable 5 Prox. to Subject Sales Price Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location View Site Quality Age Comparable 6 Prox. to Subject Sales Price Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location View Site Quality Age Form PICPIX.CR — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE File No. 13451 WCR 64/Ranch Building Sketch Page #17 Bo?rower Goetzel Property Address 13451 WCR 64 City Greeley County Weld _ State co Zip Code 80631 Lender Corbelle Goetzel Estate E 0 0 z 3 J Knchsn 26 2 Encbndd Porch Sketch by Apex Iv' Comments: AREA CALCULATIONS SUMMARY Code Description Net Size Net Totals GLA1 First Floor 1317.9 1317.9 P/P Cvrd Porch 198.0 198.0 Net LIVABLE Area (Rounded) 1318 LIVING AREA BREAKDOWN Breakdown Subtotals First Floor 26.2 x 50.3 1317.9 1 Item (Rounded) 1318 Form SKT.BIdSkI — "WinT0TAL" appraisal software by a la mode, inc. — 1-800-ALAM0DE File No. 13451 WCR 64/Ranch Location Map Page #18 Borrower Goetzel Property Address 13451 WCR 64 City Greeley County Weld State co Zip Code 80631 Lender Corbelle Goetzel Estate Subject 13451 WCR 64 Comparable # 3 13276 WCR 64 0.45 miles E latteville Firestone Frederick Fort Lupton ,r O2009 MicrosoRCoq O2008 NAVTEQ,andJorTele Atla<,Inc. Comparable # 4 316 21st Ave 4.90 miles E Comparable # 1 25307 WCR 50 13.09 miles SE Milton Reservoir Plane Valley „Airpalk I enesburg Scale Form MAP.LOC — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE Location Map lit File No. 13451 WCR 64/Ranch Page #19 Borrower Goetzel Property Address 13451 WCR 64 City Greeley County Weld State Co Zip Code 80631 Lender Corbelle Goetzel Estate Form MAP.LOC — "WinTOTAL" appraisal software by a la mode, inc. —1-800-ALAMODE • Site Map Borrower Goetzel Property Address 13451 WCR 64 City Greeley County Weld State co Zip Code 80631 Lender Corbelle Goetzel Estate Subject site overview. Form MAP.Site — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE [File No. 13451 WCR 64 Ranchl Page #201 Northwest Greeley File No.: 13451 WCR 64/Ranch , Limiting Conditions & Scope of Work Property RESIDENTIAL Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without wntten permission, however, a la mode, Inc must he acknowledged and creddetl Form GPRES2AD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE 3/2007 GP rFile No. 13451 WCR 64/Ranch Page #211 Northwest Greele Certifications File No.: 13451 WCR 64/Ranch - i Property Address: 13451 WCR 64 City: Greeley State: CO Zip Code: 80631 Client: Corbelle Goetzel Estate Address: Appraiser: Kenton A Sick Address: 918 13th St, Suite 1, Greeley, CO 80631 APPRAISER'S CERTIFICATION I certify that, to the best of my knowledge and belief: — The statements of fact contained in this report are true and correct. — The credibility of this report, for the stated use by the stated user(s), of the reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions. — 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 to 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 occurrence of a subsequent event directly related to the intended use of this appraisal. — My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice that were in effect at the time this report was prepared. — I did not base, either partially or completely, my analysis and/or the opinion of value in the appraisal report on the race, color, religion, sex, 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. — Unless otherwise indicated, I have made a personal inspection of the property that is the subject of this report. — Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification. Additional Certifications: DEFINITION OF MARKET VALUE *: Market value means 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 and 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 acting in what they consider their own best interests; 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. * This definition is from regulations published by federal regulatory agencies pursuant to Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989 between July 5, 1990, and August 24, 1990, by the Federal Reserve System (FRS), National Credit Union Administration (NCUA), Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), and the Office of Comptroller of the Currency (OCC). This definition is also referenced in regulations jointly published by the OCC, OTS, FRS, and FDIC on June 7, 1994, and in the Interagency Appraisal and Evaluation Guidelines, dated October 27, 1994. w h v M Client Contact: Client Name: Corbelle Goetzel Estate E -Mail: Address: APPRAISER e jo : Kenton A Sick SUPERVISORY APPRAISER (if required) or CO -APPRAISER (if applicable) Supervisory or Co -Appraiser Name: Company: Austin & Austin Appraisal Services Company: Phone: (970) 353-0790 Fax: (970) 353-0799 Phone: Fax: E -Mail: kent@greeley-homes.com E -Mail: Date Report Signed: 05/28/2009 Date Report Signed: License or Certification #: CR01320540 State: CO License or Certification #: State: Designation: Designation: Expiration Date of License or Certification: 12/31/2010 Expiration Date of License or Certification: Inspection of Subject: Z Interior & Exterior LJ Exterior Only ❑ None Date of Inspection: 05/18/2009 Inspection of Subject: ❑ Interior & Exterior ❑ Exterior Only ❑ None Date of Inspection: GP RESIDENTIAL Copyright© 2007 by a la mode, inc. This form may be Form GPRES2AD — "WinTOTAL" appraisal software reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited by a la mode, inc. — 1-800-ALAMODE 3/2007 ‘it�� WIDc. COLORADO July 20, 2009 GOETZEL CORABELLE 13451 CR 64 GREELEY, CO 80631 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.: 080529000049 Account No.: R1358686 The Weld County Board of Equalization has set a date of July 29, 2009, at or about the hour of 1:45 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. GOETZEL CORABELLE - R1358686 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 Esther E. Gesick Deputy Clerk to the Board cc: Christopher Woodruff, Assessor Hello