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Home My WebLink About20091897.tiffCLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4226 FAX: (970) 352-0242 P. O. BOX 758 GREELEY, COLORADO 80632 Wilk COLORADO September 1, 2009 DENNIS ANDREW G 14621 WELD CO RD 80 EATON, CO 80615 RE: THE BOARD OF EQUALIZATION, 2009, WELD COUNTY, COLORADO - STIPULATE PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE DESCRIPTION OF PROPERTY: ACCOUNT #: R0828486 PARCEL #: 070716000034 -18564-B PT SE4 16 7 66 BEG SW COR SE4 E753' N166' NWLY 208' TO PT 613' E OF W LN OF SE4 W613' TOW LN OF SEC S310' TO BEG (.5R) SITUS: 14621 80 CR WELD 80615 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 $243,099 $63,163 CO /27 a EI tX./ 2009-1897 AS0073 % ref( ,i07 DENNIS ANDREW G - R0828486 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 2009-1897 AS0073 2009 COUNTY BOARD OF EQUALIZATION WELD COUNTY ASSESSOR'S ACCOUNT NUMBER R0828486 STIPULATION (As To Tax Year 2009 Actual Value) RE PETITION OF : NAME: ANDREW G DENNIS ADDRESS: 14621 COUNTY ROAD 80 EATON, CO 80615 Petitioner(s), ANDREW G DENNIS 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 SE4 16-7-66) 2. The subject property is classified as RESIDENTIAL property. 3. The County Assessor originally assigned the following actual value to the subject property for tax year 2009. Land $ 180,000 Improvements $ 63,099 Total $ 243,099 4. After further review and negotiation, the petitioner(s) and Weld County Assessor agree to the following actual value for the subject property. Land $ 64 Improvements$ 63.099 Total $ 63,163 2009-1897 r 4 5. The valuations, as established above, shall be binding only with respect to tax year 2009. 6. Brief narrative as to why the reduction was made: Adjusted value from residential to agland based on inspection and proof provided by taxpayer 7. Both parties agree that the hearing scheduled before the Weld County Board of Equalization on July 31, 2009 at 1:30 am be vacated; or, a hearing has not yet been scheduled before the Board of Equalization x (check if appropriate). DATED this 22 day of July, 2009. Petitioner(s) or Attorney Petitioner(s) or Attorney Address: /VLz/ a -r, ' fo rAna, flt gDG/ S' Address: Telephone: 9I0 '3f/ 6Wv Telephone: Address: 1400 N.17th Avenue Greeley, CO 80631 (970) 353-3845 ext. 3656 REAL AND PERSONAL PROPERTY NOTICE OF DETERMINATION Christopher M. Woodruff WELD Assessor 1400 N 17th Ave GREELEY, CO 80631 Date of Notice: 6/24/2009 Telephone: (970) 353-3845 Fax: (970) 304-6433 Office Hours: 8:00 AM - 5:00 PM SCHEDULE/ACCOUNT NO. TAX YEAR TAX AREA LEGAL DESCRIPTION/ PHYSICAL LOCATION R0828486 2009 0919 18564-B PT SE4 16 7 66 BEG SW COR SE4 E753' N166' NWLY 208' TO PT 613' E OF W LN OF SE4 W613' TOW LN OF SEC S310' TO BEG (.5R) SITUS: 14621 80 CR WELD 80615 14621 80 CR WELD, CO 80615 [ PROPERTY OWNER DENNIS ANDREW G 14621 WELD CO RD 80 EATON, CO 80615 PROPERTY CLASSIFICATION ASSESSOR'S VALUATION ACTUAL VALUE PRIOR TO REVIEW ACTUAL VALUE AFTER REVIEW RESIDENTIAL 245,163 243,099 TOTAL $245,163 $243,099 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 207-05/08 NOD it 2502 APPEAL PROCEDURES,, County Board of Equalization Hearings will be held from July 1 through August 5 at 915 10th Street, Greeley, CO To appeal the Assessor's decision, complete the Petition to the County Board of Equalization shown below, and mail or deliver a copy of both sides of this form to: WELD COUNTY BOARD OF EQUALIZATION 915 10TH Street, P.O. Box 758 Greeley, Colorado 80632 Telephone (970) 356-4000 Ext, 4225 To preserve your appeal rights, your Petition to the County Board of Equalization must be postmarked or delivered on or before July 15 for real property and on or before July 20 for personal property — after such date, your right to appeal is lost. You may be required to prove that you filed a timely appeal; therefore, we recommend that all correspondence be mailed with proof of mailing. You will be notified of the date and time scheduled for your hearing. The County Board of Equalization must mail a written decision to you within five business days following the date of the decision. The County Board of Equalization must conclude hearings and render decisions by August 5, § 39-8-107(2), C.R.S. If you do not receive a decision from the County Board of Equalization and you wish to continue your appeal, you must file an appeal with the Board of Assessment Appeals by September 11. If you are dissatisfied with the County Board of Equalization's decision and you wish to continue your appeal, you must appeal within 30 days of the date of the County Board's written decision to ONE of the following: Board of Assessment Appeals District Court 1313 Sherman Street, Room 315 9 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 r I property pursuant to § 39-8-106(1.5), C.R.S.) $ O What is the basis for your estimate of va ue or your reason for requesting a review? (Please attach additional sheets as necessary and any supporting documentation, i.e., comparable sales, rent r Il, friginal installed cost, appraisal, etc.) (7/ app . & /r dtt: Ai Sr to PC- - an/ //f Gi55ii/v��ri -/42,j o y,<co/ /'S/ie of 0/2/7 tit -a- a'-4 ATTESTATION I, the undersi contgi Signature ent' of the property identified above, affirm that the statements ttachments h to are a and plete. %7i' %67/V 7/0—D2 Telephone Number Date Attach letter of authorization signed by property owner. 15-DPT-AR PR 207-08/08 NOD #' 2502 July 10, 2009 RE: Andrew Dennis' property assessment To whom it may concern: This letter, and attached documentation, is regarding the County Assessors determined value of my home/property located at 14621 WCR 80, Eaton, CO. 80615. The latest assessment is unreasonable. The County Assessor has determined, after prior appeal, that my home/property is valued at $243,099. This assessment is wrong. I have attached TWO appraisals which were obtained March and June of 2008. The June appraisal indicates the property is worth $215,000. It also indicates, on page five, that the excess acreage is worth $1,000 per acre. Page 12 of the March appraisal indicates that the vacant land is used for agricultural purposes, which holds true. The second, March, appraisal indicates that the property is worth $210,000. As you know, I paid $205,000 for the property. This purchase price, being nearly the same as the appraisals, was unheard of at the time. Due to the real-estate conditions, common sales were far less than the appraisals. I agreed to the inflated price due to sentimental reasons and convenience. I have researched the assessed values of my neighbor's properties. It seems that the largest inaccuracy in my property assessment is that of the land itself. My neighbor directly to the West, Michael Frink (14367 WCR 80) has 5.2 acres which have an assessed land value of $275. The neighbor to the west of Frink, Randy Kinnison (14175 CR 80), has 33.39 acres with an assessed land value of $9,392. The neighbor to the North, Gerald Danielson (39621 WCR 31) has 4.75 acres with an assessed land value of $2,481. These properties are determined to be agricultural. Although my property has been assessed as "residential", it is by all means, "agricultural". The largest portion of my land is used for one purpose, grazing livestock. During my research, I was unable to find any similar properties, residential or agricultural, which were valued at $40,000 per acre, which is what my land has been valued at with the latest assessment. I have attached the following photos for your review: 1) Frink's pasture which borders my pasture on the west side 2) chicken coupes in my pasture 3) overview of my pasture looking to the west toward Frink's pasture/home 4) abandoned hog operation which borders my land to the east 5) abandoned hog operation which borders my land to the east 6) abandoned hog operation which borders my land to the east 7) Frink's home and outbuildings to the west of my land 8) overview of Frink's pasture looking toward my bordering pasture to the east 9) Kinnison's home and outbuildings to the west of Frink 10) abandoned hog operation which borders my land to the east I appreciate your consideration, and feel confident that after your review of the supporting documents and facts you will be able to arrive at a fair assessment of my property value. Sincerely Andr�nnnTh --- REAL VALU, Inc. 2028 9th Street Greeley, CO 80631 March 28, 2008 Gilbert Dennis 14621 County Road 80 Eaton, CO 80615 RE n/a 14621 County Road 80 Eaton, CO80615 File No. Case No. pear In accordance with your request, I have personally inspected and prepared an appraisal report of the real property located at: 14621 County Road 80, Eaton, CO 80615 The purpose of this appraisal is to estimate the market value of the property described in the body of this appraisal report. Enclosed, please find the appraisal report which describes certain data gathered during our investigation of the property. The methods of approach and reasoning in the valuation of the various physical and economic factors of the subject property are contained in this report. An inspection of the property and a study of pertinent factors, including valuation trends and an analysis of neighborhood data, led the appraiser to the conclusion that the market value, as of March 25, 2008 is $ 210,000 The opinion of value expressed in this report is contingent upon the limiting conditions attached to this report It has been a pleasure to assist you. If I may be of further service to you in the future, please let me know. Respectfully submitted, ( r Signature. Richard M. Borys REAL VALU, Inc Uniform Residential Appraisal Report File No. Case No. I The purpose of this summery appraisal raped is to provide the le die with an accurate, and adequately sippated, opinion of me me et value of the suhjecl properly. Property Address 14621 County Road 80 Cy Eaton Stale CO Zip Code 80615 Bononer n/a Owner of Pudic Record Dennis County Weld Legal Description Lenqhty - see attached Assessor's Parcel # 0707 60000 4 Tex Year 2007 R.E. Taxes $ 889.44 Neighborlwad Name Rural Ault Map Reference Assessor Census Tract 23 Occupant I 1 Owner I Tenant I X I Vacant S Assessments $ none I I PUD HOA$ none I Iper Year per month =. Pr Ri ht ised X Fee Si a Leasehdd OM e describe Assignment Type Purchase Transechon Rol nanceTransaction X Ottler(descnbe) Estate valuation & potential sale. Lende/Oient Gilbert Dennis Address 14621 County Road 80, Eaton, CO 80615 Is the subject popery currently offered fa sale or has it been offered fa sale in the Mdve months prior to the effective date this appraisal? I I Yes I X I No Report data source(s) used, offerings pnce(s), and date(s). MLS I Li did Li did not analyze the contract for sale for the subject purchase transaction. Explain the results d the analysis of the contract fa sale or why the anlyds was not n/a Contract Rice $ Na Date of Contract n/a Ihe properlye the amer dpudicrecad? Yes No Date Sweets) n/a $ Is there any financial assistance boon charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower? • Yes LI No $ tt Yes, report the total Adler amount anddescribe to items to be paid. n/a Note: Race and the racial composition of the neighborhood are not appraisal factors. d*; Location NeighborhoodCharacteddics llman Suburban X Rural Property Values One4M#Houeinjrnde Increasing X Stabe Declining One-UnNlbusing PRICE AGE Pm Lard Use% One -Unit 100 % Rio Bus -Up Orer75% X 25-75% Urda25% Demend'Suply Shortage X In Baence 0oSip#y $(000) (y ) 2-4Unit % 'tts Growth RaAd X Stable Sox Marketing Time UnMs X 3-6mths pe6n#rs 100 Low new Mdh-Fandy % Neighborhood Boundaries Between I -My 392 & Co. Road 90, between Hwy 85 & the Weld/La imer 1000+ High 110 Commercial % ounty I ne but excludes cities. Overall market area includes all development within 20 m es 325 Pred. 30 Other % Neighborhood Des 'Fitton Located between Greeley & Fort Collins, this area con tens rural residences, country subdivisions, & farms. It is =-$commutable to much em. o ment alo . the F orrt Ran. - & is in the .:th of cur eat Growth. Develo.ment varies from modest older armsteads, to newer vintage customs. Most development of the past 10 years ends to be upscale. The locale is attractive & popular. Marker Conditions (inducing support forte above conclusions) SEE ATTACHED COMMENTS I « . Dimensions not available Aree 4.5 acres Shape Rectangular (irreg.) View Ty 'cal for area SpecificZoning Classification A Zoning Description Agriculture Zoning Compliance I X I toga f I Lega Nonconforming (Gran tlfamaed Use) I I No Zoning I I Illega (describe) bra„' Is the Nghest and best use of su6'ecl popery as imprwed (or as proposed pa plans and specifcabo is) the present use? I X IYes I I No If No, describe. n/a utilities Pudic Other( be) Public other(describe) Omsite lnprovementa-Type Public Pdrete s.Bechidy X Water X Sheet Gravel X Gas X fuel oil. Senile Saver Se.tic Tank AI le None FEMA .: ial Flood Hazard Area •Yes ©No FEMA Flood Zorre C FEMA Ma # 0802660475D FEMAM=.Date 9/22/99 t;5 Ara the utilities aaYor off -site irryrovements typical forme market en? X Yes No If No, describe. n/a Are there any adverse site condtlons or external faders (ea encroachments environmental cone:Mens, lard uses, etc.)? IX IYes I INo d Yes, describe -MuGradirg of the home covers areas of the lower siding. General Description Units Ii1Onefl One wit Accessory Unit Foundation Concrete Slab XCrave Space Exterior Description matedsefcondtlon Foundation Walls Concrete/Stone-A interior matedsdcondtlon Hoes CarpetNinyl-F # of Stories two Full Basemen) Partial Basement Exterior Walls Wood-F/A Walls Plaster -A • T IXI DelIAtt I IS Unit Basement Area 0 soli( Roof Surface Composition -A Trim/Binh Avq/Avg I X �Edsting I I Prcposed under Co nsL Basement Finish N/A % Gutters & Downspouts Metal -A Bath Floor Vinyl -A }i0esign (S el 2story I (Outside EnExit( (Sun? Pump Winnow Type Wood -A Bath Wainscot Plastic -A Year Butt 1899 Evidence of lnfestaton Storm Sash/Insulated Yes -A Car Storage I I None k EAeclwe Age (Yrs) 35 I I Dam pness `11Bodement Screens Yes -A I X I Drivewmy #at CarsIML 1 $ Alt None Heenel IFWA I Iken' I Amenities Woodstove(s)# Ome.ay Surface Gravel '$I! Drop Star X Stairs I XIOIher SFace IF fuel oil Fi:decals)# X Fence Garage #d Cars Floor Scuttle Coding I Cenba to Gentilcminq Paidoeck X Porch enclosed Carport #d Cars Finshed Heated ( Individud Other None Pool Other Att X Del. Bull -in Appliances P Refngeala P Range/Ove P Dishwasher Disposal Microwevs Washer/Dryer Other(describe) Finished area above grade contains: 6 Rooms 3 Behwms 1 DO Bam(s) 1,560 Square Feet of Gross Uving Area Above Grade Addibond features ( phial energy efficient iterra, etc.) Ceiling fan, small sheds, finished 1 room labor house with space heater. The attic is mostly g'Euseable & could be converted to living space. ( Desert be the condbon of the properly (indudnq neetled repairs, detnaaton, renovations, remodeling ek ) The roof is a newer replacement. The home is F'.particularly "dated" & is in need of modernization & redecor. Foundation & crawl space not inspectedT. =yy; Are mere any phyacal deficiencies a adverse conditions that affect the livebriy, soundness, a structural integrity of the popery? I XIYes I I Na If Yes describe Electrical wirinq to garage is not to code. Areas of siding are deteriorated. In some cases this could allow termites to enter the home. A termite inspection is recommended. Regrading around the home should be completed so that drainage is away from the atrUeture & ¢"5•y; siding no longer touches earth. Estimated cost to regrade & replace deteriorated siding $2,500. ` . Does me prepay generalt conform to me neighb 1nood (tuncbona utility, style, condition, use, construcbon, ac.)? [X IT I I No It Na, describe The property is appropriate for its locale. Freddie Mac Form 70 Marsh 2005 ClickFORMS Appraisal Software 800-622-8727 anne Mae ram two Harmer Page 1 of 17 REAL VALU, Inc. File No Case No Uniform Residential Appraisal Report The are 10 comparable properties care* altered for sale in the subject nags ahood ranging in pice from $ 175,000 toy 250,000 T at 25 c°myarode sales in the subject nestborhoed with in the past Mdve months ranging in sateeries from$ 175 000 a$ 25(1(100 FEATURE I SUBJECT COMPARABLE SALE COMPARABLE SALE #2 COMPARABLE SALE#3 p q. Address 14621 County Road 80 -tom Eaton CO 80615 24437 County Road 76, Eaton, CO 60615 19667 County Road 76, Eaton CO 60615 19057 County Road 76, Eaton, CO 80615 Proximity to Subject 10.22 miles E 559 miles E 5.05 miles SE Sale Price $ n/a $ 200O00 $ 220,000 $ 237,500 •t ,;. Sale Poce/Gross Dv. Area $ 0.00 sq ft. $ 170.07 sq. ft. $ 199.82 sq. ft. $ 194.04 sq H. Data Source(s) Inspection MLS#551856 MLS#545766 MLS#546622 'k= Verification Sources County Records County Records County Records County Records 2;p VALUEADJUSTMENTS DESCRIPTION DESCRIPTION +(-)$AQustmenI DESCRIPTION +(-) $Aquslmenl DESCRIPTION +E) $Adjustment Sae a Financing VA $6000 -6000 Co $6896 -689E Cony no y�' g..; Concessions Seller costs Seller costs Seller coats Datef Sale/Time current 2/08 12/07 1/08 'Laation NW of Eaton Galeton area +10,000 NE of Eaton NE of Eaton LeasehddFeaSnple Fee Simple Fee Simple Fee Simple Fee Simple y Site 4.5 acres 2.86 acres +8,200 2 acres +12,500 2.58 acres +9,600 Vi Typical for area Typical for area Typical for area Typical for area Design (Stale) 2 story Ranch -2 500 Ranch -2,500 2 story Quality cif Construction Frame/Avg Frame/Avg Frame/Avg Frame/Avg ACNa Age 109 yrs 89 yrs 63 yrs 88 yrs Condition Average dated) Average dated) Avg -Good -7,500 Good -1 5,CDC Above Cade iota Berms Baths Tdd Berms Baths Total Berms Belts Total BlomjI Batts 1 `Room Count 6 3 1.00 5 2 1.00 0 5 2 1.00 0 6 3 1.00 C Gross Living Area 1,560 sq .ft 1,176 sq. ft. +9,216 1101 sq. ft. +11,016 1224 sq. ft. +806' =rn Basemen)&Finis hed { Rooms Below Grade None 952 SF- 25% low ceilings -5,000 1101 SF 90% FnisNbath -10,300 None Functional UMi A-s:of &eradin• Average -2500 Average -2500 Ave •e -2500 Heatng/Cadino Space/None HWBB/none -5000 FANG/none 5000 FANG/none -5000 Energy Efficient Ile ms None None None New windows -1,500 Gerage/Carport 2 car garage None +5,000 None +5,000 None +5,000 Porch/Patio/Deck Enclosed Enclosed Small patio. +1500 Coy. porch, -5,000 porch fence porch corrals, arena. Attic 360 SF None +2,500 None +2,500 None +2,500 Outbuildings Labor house 30 X 60shed -15,000 Small tenant house -10,000 3 newer barns -15,000 s,.NetA•vdment To + X - $ -1 084 + X - $ -12180 + X - $ -18 836 ' Adjusted Sae Price of Comparables Net Adj'.-1% Gross AS 35% $ 198 916 Net Adj. -6% Gross Adj: 35% $ 207 820 Net Ad)'. -8% Gross Ad: 29% $ 218,664 I IX lad I I ad not research the sales transfer !lady d the subject property and corryemd esales. It not, explain n/a My research I I did I X did not reveal any prior sales a transfers of the subject property fa the three years prior to the ettechve date of this appraise. Data souce(s) County records. Myresearch I I did [XI ridnit reveal anyprior saes ortransfers ofinecaryamtlesalesfame year odd to the date of sae of the comperadesale. Data source(s) County records. Report the resells of the (wears and analysis of Me prior sale or transfer history of the subject p •., and comparable saes (report additional prior sales on page 3). ITEM SUBJECT COMPARABLE SALE #1 COMPARABLE SALE#2 COMPARABLE SALE#3 (<, Date DIP Sae/Transfer none none none 10/03 "k6z Price of Prior Sae/Iran n/a n/a n/a $168,000 4 Data Seurce(88) County records County records County records County records Effective Date of Data Source(s) 3/24/08 1/08 1(08 3/24/08 ,4 Analysis ofpriasale or transfer history of the subject popery and comperabe sales None of the properties is believed to have had any market experience within the time frame identi ied. I Summary of Saes Comparison Approach Sales of rural properties are generally in short supply. This requires the use of comps requiring large .Y.} adjustments. The comps chosen are a selection of acreage properties in the same general area. Overall they are a reasonably good selection. Comp 1 had been tenant occupied &was in reasonable repair. It was in serviceable condition, but not particularly updated. It '-, had a large older shed which helped the sale. It is located in an area with generally lesser site values. Comp 2 was spruced -up to sell & M had newer interior decor. It was not an extensive remodel however. The property has an additional small rental home, which was marginally habitable. The site had few/ other improvements other than the homes. Comp 3 was well set-up for horses, & had been J;exten lively remodeled since it was pummeled in 2003 It had three small sleds which were attractive. Comp 4 is located in the same area as comp 1. (cont.) Indcated Value by Saes Compaison Approach $ 20,000 4,4 I ndcated Value by. Sales Comparison Approach $ 210,000 Cost Approach Of developed) $ 211 074 Income Approach (d developed) $ n/a The sales comparison approach is generally the best method for evaluating single family homes. Most weight is placed on it. The cost approach is primarily a test of reasonableness & supports the valuation reached. Income approach not prepared & is generally kconsidered to be non-a•plicable for single family homes. This appasa is made U as is U subject to completion pa plans end specifications on the basis of a hypothetical condition that the improvements have been fir-:" completed.Qsublect to the fdlcvang repairs oralteaeons on the basis of a hypothetical condion that the repairs oralterations have been completed, a. subject to the J. 4 fdloweng required inspection based on the exhaadnary assumption that the condtion a deficiency does not require alteration a repair: Appliances & equipment � assumed operable on date of inspection. A termite inspection is recommended. Based on a complete dual inspection of the interior and exterior areas of the subject property, defined scope of work statement of assumptions and limiting conditions, and appraisers certi&alion, my (our) opinion of the market value, as defined, of the real property Mattis the subject of this report is s otmmn sent Mamrh95 cone . which Is the date of inspection and the effective date of thisaoDraisal. Freddie Mac Form 70 March 2005 ClickFORMS Appraisal Software 800-622-8727 Fannie Mae Form 1004 March 2005 Page 2 of 17 REAL VALU, Inc. Uniform Residential Appraisal Report File No. Case No. MARKET CONDITIONS COMMENTS (cont.). The local real estate market has noticeably slowed in 2007 with foreclosure properties being_a constant drag on the market. This is •-rticuladyprevalent in the lower (affordable) price ranges due in particular to liberal financing options offered in recent years. These if -lancing sources have tightened lending standards, which he, shrunk the pool of available buyers. Currently conventional, FHA, VA & CHAFA financing are available locally in the 7.5% range however most current financing programs require increased documentation. Down payment requirements are still minimal however, with government (FHA, VA, CHAFA) financing available with as little as 3% down. Current conventional financing programs generally require a minimum of 10% down. Seller concessions of 1-6% of the purchase price to assist with financing & or down payment are common, particularly in the lower price ranges. Currently the market dy is reasonably favorable to tames which are competitively priced. There is an overhang of unrealistically priced homes, owing in large art to the high prices paid, which oftentimes included all loan & financing costs, of recent years which can no longer be obtained. New constructions continue, but at a greatly diminished pace vs. recent years.' Spec" homes are less plentiful, with mast homes being built for a.-cific bu ere. Farm Credit Services financing is also available. COST APPROACH TO VALUE (not required by Fannie Mae.) Provide adequate inormation fa the lender/die to replicate your cost ues and calcuations. Support/ a the opinion of site value (summary of compamdeland sales a other marrieds for estimating to value) Based on MLS site es in the area ESTIMATED I I REPRODUCTIONOR I X I REPLACEMENT COST NEW OPINION OF SITE VALUE Source ofccst data Marshall &S gu Comments on Cost Approach (gross living area calculations, depredation, etc.) Encporch, labor house, ml 'Depreciation based on age life method, plus deferred rating from cost service Avg Et date of cost data 9/07 _$ 90,000 ling 1,560 Sq. Ft .@$ 80.00 =5 124,800 Sq Ft. $ E4 maintenance if a =5 25,000 Garage/Carport 440 Sq. Ft. tilt$ 20.00 1 8,800 Total Estimate of Cost -new Less Depreciation 67,526 Ph sisal 43 Functional aped Cost of Ilmrovemen •Asis' Value of Site Improvemen 0 =5 158.600 EAemal =S ( 67,526 =5 91,074 30,000 =5 Estimated Remaining Economic Life(HUD and VA aly) 50 Years Indicated Value By Cost Approach INCOME APPROACH TO VALUE (not required by Fannie Mae.) Estimated Monti Market Rent $ )(Gross Mdn•iu =5 Indcated Value • Income As. rich Summary of Income Approach $ndudng supped for market rent and GRM) 211 074 PROJECT INFORMATION FOR PUD. (If applicable) the developer/builder in contrd of the Homeowners Assodabon (ROA)? ryes r No Unit type(s) r Detached IrAttached aide the fdlwMn • information is PUDs ONLY if the deval ••' Nuttier is in contrd of the HOA and the su Dat • •gip is an attached dvdlin• unit Legal Name of Project Total nu Total number of ants rented To Wasthe project created by the convason ofedshn9 buddn (s Does the project contaln any mtlbdialing units?I )Yes I9 Are the units, cannon dements, and recreab faciities conplete? I IYes of pha number of unit number of units for sale Total nubile of units add Data source nto a P009 Yes No IfYes, date d conversion o Data source I No If No. describe the status of co Won Are the common dements leased to a by the Haneownefs Assadetion7 I jYe I No If Yes, describe the rental I and echo Descnbe common dements and recreational fa Fr ie Mac Form 70 March 2005 ClickFORMS Appraisal Software 800-622-8727 Fannie Mae Form 1004 March 2005 Page 3 of 17 REAL VALU, Inc. Uniform Residential Appraisal Report Ale No Case Na 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 reaeonable 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 appraisers 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 appraisers determination of its size. 3 The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified Special Flood Hazard Area Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4 The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand, or as otherwise required by law. 5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the research involved in performing this appraisal. Unless otherwise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, this appraisal report must not be considered as an environmental assessment of the property. 6 The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will be performed in a professional manner. Freddie Mac Form 70 March 2005 Panne Mae Form 1084 March 2005 ClickFORMS Appraisal Software 800-622-8727 Page 4 of 17 REAL VALU, Inc. Uniform Residential Appraisal Report APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that. File No. Case No. 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. 1 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 properly 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 odor 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 or 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 markers 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 rumished 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 test 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 or 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. Freckle Mac Form 70 March 2005 Fannie Mae Form 1004 March 2006 ClickFORMS Appraisal Software 800-622-8727 Page 5 of 17 REAL VALU, Inc. Uniform Residential Appraisal Report File No Case Na 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, govemment 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 e 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 Ilatxllty and/or criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 1001, et seq., or similar state laws. SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that: 1. I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 2. I accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 3. The appraiser identified in this appraisal report is either a sub -contractor or an employee of the supervisory appraiser (or the appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law. 4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 5. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature Signature _ Name Richard M. Boryp Name _ Company Name REAL VA6U, Inc. Company Address 2028 9th Street Greeley, CO 80631 Telephone Number 970-356-4092 Email Address realvalutmfrii.com Date of Signature and Report March 28, 2008 Effective Date of Appraisal March 25, 2008 State Certification # CG01314136 or State License # Certified General Appraiser or Other (describe) State # State CO Expiration Date of Certification or License 12/31/09 ADDRESS OF PROPERTY APPRAISED 14621 County Road 80 Eaton, CO 80615 APPRAISED VALUE OF SUBJECT PROPERTY $ LENDER/CLIENT Name Company Name Gilbert Dennis Company Address 14621 County Road 80 210,000 Email Address Eaton, CO 80615 Company Name Company Address Telephone Number Email Address Date of Signature State Certification # or State License # State Expiration Date of Certification or License SUBJECT PROPERTY RDAnotinspect 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 Did inspect exterior of comparable sales from street Date of Inspection Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005 ClickFORMS Appraisal Software 800-622-8727 Page 6 of 17 REAL VALU, Inc. EXTRA COMPARABLES 45-8 File No. Case No Borrower n/a Property Address 14621 County Road 80 City Eaton County Lender/Client Gilbert Dennis Weld State CO Zip Code 80615 Address 14621 County Road 80, Eaton, CO 80615 FEATURE SUBJECT COMPARABLE SALE # 4 COMPARABLE SALE 5 COMPARABLE SALE 6 Address 14621 County Road 80 Eaton CO 80615 24025 County Road 76, Eaton, CO 80615 Proximity to SrAjecl 10.27 miles E Sale Pdce $ n/a $ 250,000 $ $ cut q. ft $ 198.10 sq. Sale Pace/Grossuv. Area $ 0.00 sq. R. DaIs Source(s) Inspection MLS#525170 fl Verification Source(s) County Records DESCRIPTION County Records DESCRIPTION +(-)$Adjustment DESCRIPTION +(-)$ Adjustment DESCRIPTION +(-)$ Adjustment VALUEADJUSTMENTS Sale a Financing Cony. - no h1t Concessions current NW of Eaton Seller costs 9/07 Date of Sale/Time Galeton area +10,00C Locdon griy Leasehdd'Fee Singe Fee Simple Fee Simple Sile 4.5 acres 4.36 acres Mery Typical for area Typical for area D's Desi.n S e 2sto Ranch -2500 Quality of Construction Frame/Avg Stucco/Avg Actual Age 109 yrs 101 yrs r Y2 Condition Average dated) Very Good -15000 AboveC ade A Gross Living Area Total B&msS Bath Tdal Bctms Bat Told 8dmrs Baths Tote IBOnrs � Baths 0 1,560 sq. ft. 1 262 sq ft. +7152 sq ft. sq. fl. %s Basement & Finished Rooms Below Grade None None xt; Functional Utility A -siding & grading Average -2500 ling/Cooling Space/None FANG/Central -7006 .'=. Energy Efficient Items None New windows -1500 7.t Garage/Carport 2 car garage None +5000 PortIVRabriDech Enclosed Fence, corrals. porch, fence. Attic 360 SF None +2,500 Outbuildings Labor house 1300 SF shop -20,00q T Net Adjust (Total) I 1+IxJ- $ -23,848 I '+l l- $ 0 P1 +I 1- $ 0 "Adjusted Sale Price ofComparaLies Net Adj: -10% Gross Ad 29% $ 226 152 Net Adj'. 0% Gross Adj: 0% $ 0 Net Adj'. 0% Gross Adj: 0% $ 0 Report Me results of Me restart and analysis of the plot sale or transfer history of the sub ect property and corrparatle sales ITEM SUBJECT COMPARABLE SALE # 4 COMPARABLE SALE # 5 COMPARABLE SALE # 6 :mzt: Date of Pna SaleTransfer none 459 Pnee of Prig SalesTransfa Na $185,000 Data Source(s) County records County records Eff Date of Data ce(s) 3/24/08 /08 Analysis of prig sale a transfer history of the sugect pvprrty and corrgrarade sales n/a €ns.; u!. Summery of Saes Co ens Approach (cent.): It is likely a top market sale. The home was gulled & remodeled in the past & was very modern. It had an older shop building which helped the sale. Financinq was typical, but adjusted for seller paid concessions. Most weight on comps 1 & 3 the most overall similar. ai ClickFORMS Appraisal Software 800-622-8727 Page 7 of 17 REAL VALU, Inc SALES LOCATION MAP Borrower n/a File No. Case No. Property Addess 14621 County Road 80 Oty Eaton County Lender/Client Gilbert Dennis Addess 14621 County Road 80, Eaton, CO 80615 Weld Stale CO Zip Code 80615 Pierce.' hilt Eaton as NI 4th St It "r D `4 0 SY 6L zi 'Ti a c Bit .n: '9200b Miom:oft Cop :C'20UP NbViEQ,and (nrtele Op.; Inc 7 Off es 64 Cteeley E5 Greeley -Weld County Arpon M on<r' MapPoint' CR-82 51 Y It. Poa,i Pan,. ClickFORMS Appraisal Software 8W-622-8727 Page 8 of 17 REAL VALU, Inc SUBJECT PHOTO ADDENDUM File No. Case No. Borrower n/a Property Ad&ess 14621 County Road 80 OW Eaton County Lenderlaient Gilbert Dennis ClickFORMS Appraisal Software 800-622-8727 Weld State CO Zip Coda 80615 Address 14621 County Road 80, Eaton, CO 80615 FRONT OF SUBJECT PROPERTY 14621 County Road 80 Eaton, CO 80615 REAR OF SUBJECT PROPERTY 8 labor house STREET SCENE Page 9 of 17 REAL VALU, Inc SUBJECT PHOTO ADDENDUM File No. Case No. Borroser n/a Property Addess 14621 County Road 80 City Eaton County Lender/Client Gilbert Dennis Weld State CO Zip Code 80615 Addess 14621 County Road 8Q Eaton, CO 80615 garage misc. sheds ClickFORMS Appraisal Software 800-622-8727 Page 10 of 17 REAL VALU. Inc. COMPARABLES 1-2-3 File No. Case No. Bonewer n/a Property Address 14621 County Road 80 (Ay Eaton County Lender/Qient Gilbert Dennis ClickFORMS Appraisal Software 800-622-8727 Weld Slate CO Zip Code 80615 Address 14621 County Road 80, Eaton, CO 80615 COMPARABLE SALE # 1 24437 County Road 76, Eaton, CO 80615 COMPARABLE SALE # 2 19667 County Road 76, Eaton, CO 80615 COMPARABLE SALE # a 19057 County Road 76, Eaton, CO 80615 Page 11 of 17 REAL VALU, Inc. COMPARABLES 458 File No. Case No. Borrovnr n/a ProperlyAddress 14621 County Road 80 CO Eaton County Lender/Oienl Gilbert Dennis Weld State CO Zip Code 80615 Address 14621 County Road 8O Eaton, CO 80615 COMPARABLE SALE# 4 24025 County Road 76, Eaton, CO 80615 COMPARABLE SALE # 5 COMPARABLE SALE # 6 ClickFORMS Appraisal Software 800-622-8727 Page 12 of 17 File No Case No Borrower n/a Property Address 14621 County Road 80 City Eaton County Lender/Client Gilbert Dennis Address 14621 County Road 80, Eaton, CO 80615 Weld State CO Zip Code 80615 ADDITIONAL COMMENTS & CERTIFICATIONS: The attached SUMMARY REPORT (option II, report format) was prepared to estimate the fee simple interest in the subject property. This appraisal was prepared to assist in a potential sale of the real estate appraised. It is not a home inspection report and it should not be relied upon to disclose conditions of the property. It should be noted that square footage (size) calculations are approximate. If appraisal is based on "plans & specs", building was not measured by appraiser. Square footage figures are taken from plans provided It is assumed that there are no structural defects hidden by the floor or wail coverings or any other hidden or unapparent conditions of the property; that all mechanical equipment and appliances are in good working condition; and that all electrical components and the roofing are in good condition, except as may otherwise be noted on the report. If the client has any questions regarding these items, it is the client's responsibility to order appropriate inspections. The appraiser does not have the skill or expertise needed CO make such inspections. This appraisal has been prepared for the exclusive benefit of the client named in this report. It may not be relied upon by any other party. Any party who uses or relies upon any information in this report. without the preparer's written consent, does so at their own risk. The attached report contains the descriptions, analysis and supportive data for the conclusion and final estimate of value. In all cases the "date of sale" noted for the comparables is the closing date, unless otherwise noted. The appraisal date and the date of inspection are the same, unless otherwise noted. As of tbis date, I have completed the requirements of the continuing education program of the Appraisal Institute. I certify that the use of this report is subject to the requirements of the Appraisal Institute to review by its duly author•iz.ed representatives. I certify that, to the best of my knowledge and belief, the reported analyses, opinions and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and the Standards of Professional Practice of the Appraisal Institute. Richard M. Borys, SRA Certified General Appraise CGO1314136 License expires 1231.'09 ClickFORMS Appraisal Software 800-622-8727 Page 13 of 17 File No. Case No. Borrower n/a Property Address 14621 County Road 80 City Eaton County Lender/Client Gilbert Dennis Address 14621 County Road So, Eaton, CO 80615 Weld State CO Zip Code 80615 20' Si Floor 20' 30' Red'oom Foyer Bath 3' 9' enclosed perch 20' O Liv;ng Room od heater K tchen co `ieale' F 18' 2nd cloor 40' Bedroom 30' Stairs Dcwn Bedroom Den 20 Attic w;th floor & Piaster walls & cai1 r� Sterne -flown 18' Labor house Ooil healer 16' 12' 2 Car Garage { 20' I 8' 12' open abed I_ 10' shed 6' 22' ClickFORMS Appraisal Software 800-622-8727 Page 14 of 17 File No. Case No. Borrower n/a Property Address 14621 County Road 80 City Eaton County Lender/Client Gilbert Dennis Address 14621 County Road 80, Eaton, CO 80615 Weld State CO Zip Code 80615 Identif) Results Page 1 of 1 WELD COUNTY ASSESSOR PROPERTY PROFILE Accounti: 80825486 PareIf: 070716300034 Tax Area: 0919 Eorderinc County: Arras: 4.5 T4WMtl1p Range S41Ctlo0 Quart Sts. 37 56 15 0 thenateidamaillistaram OFN4tS G[L BERT (BN) 1462: CR 80 EATO4, CO 80615 AOdlddnal Qvar.ra: CEN.VIS GERALD D A ROWE :AN:CE L rumness/Complex: Sete Qste 13.'16:2D07 &14kdl19aon M n.Slacks NOM Property AQdr066t Street, 14621 84 CN City: WELD Salsa Summary SAM lrisr Reed Typt S0 e'+ t aatDtltrlptlon saventozn. it 3511589 :8564-3 v 1 St4 16 766 BEG SW CO4 SE4 8753' N166' NWLY X18' TO PT 613' E OF W .A OF SE4 W613'70 W LN OF SEC S310' 'O EEG (. SR) S1TUS: 14621 BC CS WELD 80615 Land Type AP* Cod* Res2ential 1112 Land Valuation SNtmrtary Unit of Number of Measure units Aces 4.5 Land Subtotal: 4.5 Bldg* Property Type ResOento' Improvements Subtotal: Total Property Value 6uldnse Valera l iO Summary Building Details Actual Value $67, 200 Actual Value `76,900 1.176,100 Assessed eels, $7,740 Agee eoa Value MUD 414,020 Accounts: 740828466 Pa r<41414 07°746000034 owners F6ante • Address: DENNIS G:LBCCT Oh) 14621 CR BC EATON, CO 80615 pulldttal Built As: Exterior; Interior Fln.sn: a of Maths: I of Bdrry: R of Stories: ROom{: Ll2'Kh 1 Stoy Fn, rlr •iarrboard Cryxa.l P1o1?a U Aeldr$I5: Street 146)1 80 CR City: 'NEW U Pro 4rtY IVY. Resderxiol Individual Suitt As Detail Year built NVAC: Bulk Aa 8Q Pt. Roof Type: Roof Cover: 2 0 Unita: 1899 Forced A.: 963 Campos:nal Srin5le C1IC1CFORMS Appraisal Software 800-622-8727 Page 15 0l 17 File No. Case No. Borrower n/a Property Address 14621 County Road 80 City Eaton County Lender/Client Gilbert Dennis Weld State CO Zip Code 80615 Address 14621 County Road 80, Eaton, CO 80615 2398 Sth strew :1 resin CO 83631 RESUME OF QUALIFlCAnONS: LICENSE: PROFESSIONAL MEMBERSHIPS: WORK EXPERIENCE: 1983 to Present. :975 to 1983: EDUCATION: OTHER: REFERENCES. REAL 'JAI U, Irt. Richard M. Borya, SRA Pi ?re t9'NC; 385-4092 FAX (970) 359-3291 raar�a t9fri.cum App•a se- of Single Fa•r.:y 1-os•es ;:nc . ring r..la properties), Farr & Land Appraisals. & &ns i inomre Petoe-taa Appease nhitival. Sike ./orrs on Ike propert.es Cworado Celled General Appraiser (C301.31413S exp.-as '2'31.06; Apprassa: Ins1.t.Ie • Sen'or 9os.dent:ai Appraiser (SRA! St.PERWS TtY REAL ESrATC APPRAISER µ≥reaey, 0Cl Appraisals for swims purposes including lerttirng, $5.e, nenitruplCy. oar: servic'rtg & nLiytech, retucation, aslale end disords, & appose. reviews. Expert witness leerrnory in divorce and bankruptcy Jroceed:•es. Ore to Tyree suburd:nate app•alsere typically trained, supevsee, d •av v nnd. CTonts induce Conve1vioral lenders, FHAhi:iD, Farrrers hope Adn:nistratlon, Reiocaton dtent, USDA, RED ap:.ra,svla'or varwus o:iur:s roladirg FNMA APPRAISER & COJNTY Sri'=PVISOR for Farness 1-o re A_rrtnIs •a•.cn ;USDA;;I, Coioreao 6 Minreseta. keno:rig/War sersCrg; farm & residential acpre`sal; apple's& training of employees 8.S rr Agriculture, Lnivers ly of kermess 197e Cern Laurie 9rad.:ale Appraisal Instc..te & p sc : Course WC, Seale income Cap.Iu itef:or'-1993 Coarse 5'0, Advanced .nco to Capita.izaton-1993 i1SPAP Update•1994/1999/2C02/2033 Professors P•adis • 1995/1998 AACrda'.Y.e Ho,.sng -199&2003 Radon & the Rea Estate professions! • 1993 I -:ghost & Best Use - 2000 Avoid ng L ebsity as sr. Appraiser - 2001 A?prase Resew -2001 USPA? -2003 y.:rre'oua ^1ie_. serrllers q,.a.rlyinr, to- cort.`.luag aducatol cra01 Sociey of Rea' Estate Apora:sers. Course tC'. Imrod..ctlon to Apprasiv-V3E3 Cc.r•se 102, Applied Residential Appraisal -1945 USDA Tra:•:ng Camper, 'lapses & Swift Cost Man„ s; Fan' Real Estate Apprasal Compete MLS racorde aro co,.ny deed rapers are •easeroivit to obsr. co'rparabs saes dais. 'he once Lorry motels a `omp.ete set of FEMA `000 maps, census tract. sots i formation maps, & /pang .n`CrrraLcn. Fur isr:ed upon recueat, as au add Tons. intr ust.on as reams. ClickFORMS Appraisal Software 800-622-8727 Page 16 of 17 File No. Case No Borrower n/a Property Address 14621 County Road 80 City Eaton County Lender/Client Gilbert Dennis Address 14621 County Road 80, Eaton, CO 80615 Weld Slate CO Zip Code 80615 —C— a 2' pm z w 3 % A 9 ClickFORMS Appraisal Software 800-622-8727 Page 17 of 17 07/07/2009 12:07 MORTGAGE SERVICES 4 *819703395030 NO.069 p002 Borrower Andrew Dennis Property Addreaa 14621 W etd [aunty Road 80 City Eaton coo Comm Banker MM1t4gac c Re Na. 9602306 Cairty Weld Stets CO Zlp Cork Emit TABLE OF CONTENTS • •. .k.. URAR_ _._..- -••-_ .. .. .... _...M_....,.... __._.._....__..,..... 1 Adttdions! Camparaetea 4 -6_ -,......,...... NMI ..._....__..,. .- . _...1610..1•01.1.4.7 Building Sleich NI -11— _-___ 8 Aerobe Use and Users. Matra! Cwdttre ..,_,....... _...--...-.......,..IIIII,..,«..........._, ..._...._.._...- .............. 9 Studard Appta6al Addendum . Sobj ct Photos ....._._.._.-..__, _ Comparable Photos 1.3 4.111.10.4104,14 TM 10 11 _.,_ 12 —_—........,..._......,...,......_....._.—..__._..___..._._. „„.w., 13 Location Map _..._ ,,,....,_., .............�...,_....__�. ....__.,.._.. .... _.,.,. 14 RoodMap _ — _—. -.... _.... _.., ......._ _ ........_..,_.__...._..., ..,. 15 EmirdmMil Adderdum - Appraiser _ . . _._.....__._ .—.•__.—._•......,..,.,,._. .... . _�....__.-•__-- 16 CBsRegina ...._._...__ __....... ............—_ ..._..__—_.--.. ........... ......IIM..._... ._..._—. 1a Dow 2001 Uwe ... ..... _.— _ __ _..,. __._ ,. __.. _... 19 Fortu TOWN — 7ebl76TAt• appals,' whit by a la roe, ix.-1-8OGALAi1DE 07/07/2009 12:07 MORTGAGE SERVICES 3 *819703395030 AgmRela On Time Uniform Residential Appraisal Report NO.0E9 P003 rila.PID95420Ab1 Page dal 0055072177 Eyc d 9602306 1 The WPM of Ilia summary apnea' rod is to prodde de eider/bent with an semis ad adgaay snored. apirion d the market vane or at suggl piously. Patti Mdrass 14821 Weld County Road 80 C'dy Eaton State CO LD Cade 80615 SO80wcr Andrew Penni Orrer 0 Public RgDO Gilbert Dennis & Jarkcc Rowe COutW Weld Legal Coscltten 16661-0YT SEA le 246 BEG SW CAF EMT at II NWI,T TOW mlwvue nibs 1Mle4,plo' E OF WO OF SE 4 Wall io win al iac carp TPOB Assessors Ported 070718000034 Tat Year 2007 R.E. Taws I 888.44 Nei9beongod Name Eaton Map Reaewr4R�24540 Cosa Tutl, ,23,00 Comerfi CwTenant RIVsCn SDeeel ASSOSSM de S NIA l punHOA S WA n Pe year I_ I oar o t Pronto Fiats Appraised 4 Foe Singe n L.aSwN f1 (Ppe (describe) ASaoMNN Type' NOM Transaction f j Rdmrca Transaction IP 0@r (deaulbbel Lender/Car Caldwell Banner Morton A*thsss 30Q0 Leadenhaa Road, Mourn Laurel. NJ 0805E 4 to man party canny offered la sae or ha N Nan Offered torsde if ilk twat moss priort the etetne date or Ms appralge7 ❑Yes ..I No AIDGS dale Somers) ma dlerirg pdoe(s), rd dale(s). Per ovidable data sources the sake property has not been offered for sale in the previous twelve MOMS. I ®did ❑did0 NWae la Pate tor salt tor8csubjed Median aaaacoan.Wain deresysdm anabas d thec8ttad/mSale Ofwhyla analysis was nol mRamd. The tonged provided web not signed by env of the parties invoMed in ttis freebie*. Conrad Price 6205.000 Doe Of Contract 05/28/2008 Is the propely salute owawa pubic record? Wyss f efs ma Songs) Pyplic Records Is tare mamma asestrce Iben elafoes, sale concessions, pit or dOemaymed asdaaat re) to be paid by any perry an Octet d ne bOTOwtfi 0 Yes $I No n yet, moot We W6l Oar amount aid *scribe tle tang to be paid. e racial Motor:aim otta rMdrerwaappdsa(fnett . Note: �.Badd .,., air-UmnTiaiapgTpeedsll. '::." I,il:.:!N 14 lNURdusNtnNGk1I1 idY.I,Be1 6 Weber' r] Man ® Suburban nm Real NORM Vella U Immix D'y SWNB 0 Drdarg RICE AGE CrmUUn1 60 % Suit41p®O*7W 25-75% Under25%Cp1mIN5UP)r L Statue Ineamna❑Caa5uppW $ 0) bre) 2-4 nit % &pet ❑ Rapid X Stele ❑ Slaw lusting line under 3 Rae g 3-6 nits ❑ Cheri nits 130 LOW 1 Akd•Famlly % NYghhded Banda*Ns The subject neighborhood Is bordered by WCR 82 to the north WCR 43 to the 365 Na 125 Commie' east, WCR 68 to the south and WCR 23 to the west 225 Pod. 90 CtlIB' 40% Neighborhood Descraam The subject neighbor hard appears to have average market WIDOW. Most P'QPanks in the area reflect average maintenance and nerds. aar less then 5%. Cowvennonal end government rend morldaaee nalocaly avast*. 'NOWS0Jer concessions S@rme from 1-spanut. Concession adjustments are rewired on at oaneeppre ImvMwng down payment assistance and seller mncessana Metal Cadham abating ti g auppol Wf Ns MO er ueors) Conventional and government hared mortgagee ere Iocaty available. Typical ear oonoesslons range from 1.5 points. Concession ad'lumnenes are requires on all trn56CGorw latching down oaym ent miasma and seller concesleore. GUrent market bends for the srkiat's market aged a come manta pnareiwn Not seeable per COU1h' necdds. Arp 4.5 arses Sops RectaMDar View Mountalrs/Plaine WO Jq*%I Clas*cetitm A 20149 0acnptte Aadgttaal 20drg Wpgsnce ® Legg U ten Nod4Moddnp (Dradfatead Use) 0 No bag 0 lags lueposel lama hiltedat Oat use NsubketpNOeV as Irpmpo laas9raped *Om and specihcamr5)le Wesel use? 2Yes LINO IINo,aamse unite Public tier (dcsoae) Pubic base des te) ofl-do ramverM* - Type Reap Petiole Wd Wake 0 Q ❑ fl C gas 0 Salt/Sewer Septic Atlry None FUAA Special Rood Hazed/um ❑ Wt ® No FM Rood Zone C EMA Map d 0802880475D FEMA Map Ole gr22/1999 ketealas ma Orl•Plie improvements !pietist ►e tarketarea? ZYes 0 4 ffN¢dscdbe Nettle any adverse all Men or as ear (sant. encroatn,aes, emimnoela ardans, tend me4 it)? 7Yes 151:1 No OYea. dentate No apparent adverse easements or kraal Seeder easements. The site is twlcal In dee and terrain for the neighborhood. Please referencean Improvement L oabea GMYieate (ILClior the subiecl's she dimensions. ' I ,. <fandatlod : .': Edaidral�npbod{'4+itp ..... "mdeYti�dbl2 -°.nettNalsl�dalloldY Ude',:-dGedsehOLer4lptpre One❑ Ore vMh A%efEv Writ Comae Rah PI Cot space Fardaeon Was ConcStorleJAverage Roams CpWinWFaln le Of Wee Twwo rift) beamed fl Partial lammed Etta Was PmmeiAveryop Wit Drywall/Avg. her ® Del 0 AL 0 SDel/FM Wit Bastard Ara New SO.N. Rcpt Sulam TrMFMsh Wood/Paim/AW. pi Fdsfi 11Pro:Rea 11 Under CorkLBasaTent Rash WA % Ries & Ovacas MeiavAeraoe 3* Fba y;mNAverage Deign (SWW) 2Story Fn 0 Sake Pump Warm Tyke Wood 1-Pane/AW. Bait WSSC0IEncbWreaerge Year Suit 1898 &clawed Malta Nene NdecSkem sashlrwrWed VeeNealAvereoa sir Siamese I sons BleCVve Ape ffts1 20 0 Darlplaa Senlemen SCleens Y AverIUe $ Menu * 01 OP 2 11 None Hate jj RIM HMS ID Radian Amities odstnls) it WWewiv Surface Gravel DNv $18t 1Sara tai RadgM Rae Di _T Rnphcda) d Z FOB Wine g Genie d d Care 2 0 Floor Sate town;n eras: kr COAOitOMO 8 Painted Patio Pack Covered 0Ceuport fi 91 Cam n AldredHeat-1 loo imlpl I❑ Omer I Pool 0 pha ❑ Pd n bet!Suitt-in Aapsagp IT Were* n Tiara/Ova 0 Dblrwa her 0 Ot rsai fl Miemaw 0 washer/0w 0 Oter Desoto) Rnleh: arm ebmeUlmde contains: 4 Road 2 SWsoos 1 Bali(s) 1,602 Stare Fri CI Coq Lids) Area Above Grade AddBWMI leafs Nagai Easy m oo n, et). Celina fan Be tribe to erielion dine properly prokehot needed regain. detagrtlen /apse.. remddsbg, as.). See Additional Comments We there law Asia deriCienses or adverse tonsoone that sow bs Iva*. sundress. R smvchpr Integra al to property? 0 Won No t Yes, *ode Dan the property gene* cod= to the neigMMgd (Iunufld Bald. slI'd. c0*leA rap, construction, et.)? ® Yee 0 N0 II No descant Freddie Mac Form 70 Msch 2005 Page 1 of 6 Faso I0D4 —Wart ameba software by a la mode, sec. -1-800 ALANDDE Fannie Maa Form 1004 Macon 2005 67/07/2009 12:07 MORTGAGE SERVICES 4 *819703395030 NO.0E9 D004 Uniform Residential Appraisal Report Ale rk 96023061 Pme #21 0055072177 f$# 9802306 Thee are 14 compamb% properties canted/ offered it said In De SteePd Neighborhood ranging in pine lee 5 130,000 ES 565,000 There are 2 comparable sabn in the subject neighborhood WPM Ile Dais Mira tern ranging in sae plea from S 169 500 m S 229,000 FEATURE SUBJECT I COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3 Address 14621 Weld County Road 60 Eaten, CO 80615 15057 W CR 75 Eaton, CO 50615 24437 W CR 76 Eaton, CO 80615 33646 WCR 23 Windsor, CO 90650 Prodmiy to Subject - - 503 cores SE 10.05 rotes 5 6.81 miles SW Sala kw 5 205,000 ... S 237,500 •, :. S 20000o l'ilIbij3tl4 $ 339,000 Bak Pnc&BOss LN. Ara S 17,97 sg.R $ 194.04 Snit ' 3 170 07 sq.R r IAin ' .5 172.49 Sod. .drill! • •.... ',: I Data Sourced) . 1 mLS/Re91QAin$pecbon MLS/Reaaor/Ineneegon 5.S/Reator/Inspeclon vesttm smmale) .. MLS# 546622 MLS# 551856 MISS 559411 VALUE ADJl19TMENTS DESCRIPTION OESCRPT10N +Id SAOAsM! DESCPJP1MN -eft aAdjustment DESCRIPTOR +hIS AONMrdnt Saks or financhC Concessions ''' r eini, X 111 _'' Cv 0 pts OOM 124 VA 3 pt I DOM 99 •6.000 Cy 0 pts DOM 61 Date of Sake/time IIIIIINhf/°2'u: -.: -'. 01/16/2005 02/15/2008 10)26/2007 Location Eaton Eaton Wen Whdaar Least:Mb/Re Simple Fee Simple Fee Simple Foe Simols Fee Simms She 4.50 eves 2.58 acres +1,920274 aces +1/60 4.59 ease View MountajesPins Motrnails/Pins Mountils/Plre Mountains/Pins Cargo 5150) ZSteN 2Story Ranch 2 -Story OHO d Construction Frame/Average Frame/Average FR Stucco Frame/Averepe Adud ASM los 88 89 118 Condition Spruce Averege Awrap9 Avereae Above Dade Room (leach Gross LOS Atea Bans. Bach rani Bean Btn BMerm4. BMa Toed Bdps.Me 4 2 1 5 3 1 •1000 5 j 2 1 4 2 1 1,802 sq.R 1224 sett. •5,870 1,178 sq.8. .6,300 1,956 Sill. •5,460 Basment a Fished Rooms Below Dade IN/A None None WA 952 Sq. FL 714 Finish -5,712 -6,712889 988 Sq. Ft Finish -5,928 •.7,112 EOrltiional UMdy_ Average Average Average Averait Ycotng/CX#J1( Greyly OiWN/A LPFA/None -2500 LPHWBB/None -2,500 LPFA/None -2,500 Enemy Emciea Pen T Topical Traded TVdeal Garage/Down 2 Detached None +6.000 2 -Detached 2 Memel l 912008ddDeck Porch/gait Porch/Patio Porch/Paep Porch/Patb Heated/Shoe Shop OubwldNgs Outbtdlt os 3-Del/Shop -7,500 Net Addebnot ltoa9 :Il6Yi;'ii' J" ,1 t -`: i 21 + ❑ • S 1q0 _a• g - $ -11,774 L 1 e CI - 1 -28,500 Adjusted Sae Pdm Of Cmpertas i PI/ : :''1'i :': c..'. ;.�'. Nil Adj. 42 % PM! Adj. 7.2 % $ 247,590 No Ate. $,9 % 61085 At t4. % NO AdI• 8.4 % S 188,228 Gnaw Adl. 8.4 % 1 310,500 Noid n did not rwamE to Sall a bosh history d It whieti MOO and rrryaable Wan netM n My research ] did X lid not weal anypkr sales or hangers Of the subiectpmpetty kriN Voraveers➢nr/etsetlectra dateof DS Garen& Oar S0n(e Public Records MY Hearth El dal 2 bid nal neat ajior sales a transfers d thcrgaebk Sala ler Mersa priorlo the dales sale efthe Conpantk sale, Data Srrce(s) Public Records Repgrl to resold d me IHeercn and analysis clew pia We re tender history of Ve sttld3 roWts and canmaab/e Sales (Mortaddiknal P orelet On nye S• ITEM SUBJECT COMPARABLE SALE 11 COMPARABLE SALE #2 COVRARAELE SALE #3 Dale of air SaWTrenefer 10/16/2007 ` No other sale'hi No other sale in No Other sale in Price Of POPSaklfraefr Unknoym/BN Deedprevious 12 previous 12 preylous 12 Dap Boned) ReCeptian 3511589 months. months. mourns. EOeceve Date of Dais Sourced) 0612/2008 06/2/2008 062/2008 06/22008 Arelysis of Dior said al dander Midvale). sublet pope¢ art cbmparahe sales The transfer of the tugged in the previous three ware was a famav hansaPion. The comparables presented have seal once in the previous l'eye months as reported a1 the sales comparison analyse. BOrfrep M Salad CIPPedeon Ascent See Additional Comments ateated Value by Sales CorOarism Appraadb s 215,000 Inrphd YAP by Sias Comparison Approach 215,000 0astApprmest $1dtydopeb8 216,63o Income Approech(d deveepe0l f N/A Tne sales f4mparsM analysis is the most reliable approach to value. me cost Horvath ie supponive of the market and is considered in the estimated gnat value. The neenle approach is not considered as the subject is looted in en area that is predominately owner occupied This accredits made X as is", 0 sobbed to gleamed, Q stlect to Ile IOISng veers et klww%G rehired impaction basal an Ile a cartreq tampltan pr plans and Spedflrakm on The basis Of a Iypdhetal wldaon ihel the Ingrcoeme is amok= on the basis of a lyppaetel mrdle/en that me repairs a abrade Noe hem confided, or essMgkn dank coMlilim Le dakirsy does ml mgtra aIeadle N RAC Ina report is subject Nye been Q etlenito me tool pawned resections and bnil/re coyly iS nja The eleNical endure! and meeMru4,I sysleme are assumed adequate and functional. Rased en a complete VsrW Median of the interior oondklenn sal appSMa's Fentary my law) S 216,000 , es et 06/04/2008 and era* areas el the subject p defined scope of writ statement of assumptions adman al malet the valet, as defined, -of the real property that Is the sabket of this repel , IWO i5 the late of inspecden and the efl9ct.e data Of 8h6 appraisal. and limiting m Riddle Mac Form 70 March 2005 Pape 2016 Form 11704— WoTOTAL' appraisal software by a Ia mode, inc. —1436ALAMOOE Fannie Mae Fong 1004 Marsh 2005 07/07/2009 12:07 MORTGAGE SERVICES 4 *819703395030 NO.059 D005 IFe ee g80220Sl Pace m31 Uniform Residential Appraisal Report • URA* : knterowmaenta - Condition of me Property Suited tmonertv'a in average condition with no functional or external inadequacies noted at the lime of iropcction. Some physical inadequacies noted as the eaeeror slag te detedprat'rq and in need of repair end paint. Estitreled cost of these repairs is 33,500. Per coat records and phone conversations with the e•Se5mrs o fCS and the building department the suoiect Propriety 4 960 square foot ranch. TIM appraisal is based on the physical impaction and the measurements taken at the tine of inspection. The upper level appears to haw been part of the original structure. The ktchr n, dining area and the storage area above appear to be an addition. Per informs/don from the county buldi10 department no permits have been Issued tar any additions or remodel. The appraisal 4 based on the extraordinary assumption that these erase are legal. 0055072177 Reg 9602908 • URAR: Sales Comparison Analysis • Summary of gales Comparison Approach All comparebee are considered Smiler In Way and marketability. Pus to limited identtebe comparable saes of 2 story f sidences in the subject's Immediate area it is necessary to use comparable 2 which Is of ranch design. The comparables presented exceed the recommended distance from the subject but are located in an area with similar vase influence, ororemdv to schools and services. Altnouen the distarcee may appear excess)* this iE typical when evaluating steurben acreages. Comparable 3 exceeds the recommend sit months from date of sale bit a within the FNMA guideline of one year. Comparabee I and 2 are adjiated for the subjects emcee acreage at 31,000 per acre. These adjustmests are based on conversations with area selling agents regarding excess *Moyle. Comparabes 1 and 2 exceed the recemmenS square footage guideline. Comparable 1 is adivated for Its additional bedroom utility. Stew grade area adjustment are made et $6/sgl_�r toot and at $8/Sotare foot for below grade finish. Comparobles 1-3 are adjusted for the market preference of their central heating spaces. Comparable 1 is adjusted for the subiecYh garage SW. temperable 3 4 actuated for its additional garage tslaty. Comparabe 4 l a current retro and 4 included for additional suwort. All comparables are considered reoresenteave of tee ateliers market and are weighted accordingly In the estimated final value. The estimated fatal value is within the sales prices and the adjusted range of the comparables presented. i'c0STAPPH6AD(YO.YALUEfeatRetired ' 9NilINIIIIIIItlIIRI i@! 711 i;V.AroI Roads adequate Inlenrenn IN 1ft kme/tkdto Sibs balm cog Ypres and calculators. Suppae kete mete sfske vamp(sewlM& el cotrafabllpld ores orSharmethods 1prestimates $Pis rate) Site values are determined from wee In competig areas, o*ree pet method and/or County Assessors Office. ESTIMATED I -1 AFPAOOUCTION OR DQ REPLACEA5NT COST NEW Source Of COS data RS Means ReeldenRv Square Foot Costs Cleft mRa hhm tdtt aerate Average Elldtfre dale of cost data 2008 Cannes on Cost AsNdadn (Dross Wig aria calddasons, depeceEp, alt) SEE BUILOINfz' SRETCN Cost esWnates hart been derived from RS Means as wet as beat building and bade sources. No evidence of functional or external Obsolescence was observed. Depredation meMgd 4 based on effedive age denied bvtat�al �nprjic Se and is estimated 1&20/6S or 31%. The economic lie Is estimated at 65 years. OPINION OF SITE VALUE DWELLING 1,802 Sq.R @ $ 97.06 _-- _$ 155,400 None Sq.Ft $ Gnat/Wpm 4O6 $ .Ft l $ 25.73 __.__ .5 10,445 Tata Winne of Costs#** =5 165,935 Las Physical hrebtsal Depredation Seine Depreciated Cost of Impovanpg5 ._.T—__.______,., aS 110.030 •A54Y Vase of Its almonds ...,_.,__._.... Eternal =5f $5,306) 20,000 Estimated Pamining Economit Life ((IA and VA dy) 40 rats MOWED VALUE BY COSTAPPNOAaH =1 215,630 ;r�l!lill"i 7i0b"IP INCdAEAPPROADNIDYSLIEDiatrory4edhy$i'tine'Meellil lU! a -�If II1�I�R Pdi'•InNll;� Estimated Rattly Mn Rea $ NIA X Gross Rent IMtfer Sanrery at Peon Approach 6ndWtg mat for market rex and SAM) N/A = S N/A instated Vase by repine Approach iii& ...":1MOIECTRa0R11ATI0NPoRMIU,flNappficiNi$1111 v. Ulr ll'�Pilr! �, i�II�I�Iu IIIIPIiII:. ls es develops/udder in cored sttlle Heieemees'Assttialian(MOA1? CI Yes El Na Udtypeisl 10aacted ID Attached Provide lie roaming information forPUDs ONLY If tedevreoosobo*der 4 in coeval of tie RDA and the stOOGO properly Is an MOW dwelirm mit Lead Name of Riled Thiel menberof SAWS Taal arrow M at mei Was tepa$lbrela by tit convert/On Seater; uilangle)Me a RC? Ll Yes fl to IIVea an of conversion Does the fl Ct cortan aremltiamino arras? fl Yes fl No Dag Soiree Mete sit Worms amok ad recreation ec6Yee Complete? 0 TO Ti So If No, ttsuee tegibs pcgmallh, ToS number efarb Tots( rartavf units sold Trial rooter *rtint for sale Balsarra[s) AM the carmen Smart lased to or byte F iemners' Association r-1 TN ❑ No If Yes, describe the natal arms and open. Describe Carmen etmma and red atonal atalee& Prewar Mac Form 70 March 2005 Pape 3 of 6 ism 1004— WinTDTA1• apransal software by a it most it.-1-SODALAVODE Fannie Mae Form 1004 March 2OO5 07/07/2009 12:07 MORTGAGE SERVICES 4 *819703395030 NO.O69 000E Iflle.Noeq(psnal Pace #all Uniform Residential Appraisal Report 0055072177 wee 9602306 This report loon 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 net permitted. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the comploaty of this appraisal assignment modifications or deletions to the certifications are also not permitted. However, adoitional certifications that do not constitute material alterations to this appraisal report such as those required by law or those related to the appraisers continuing education or membership in art appraisal organization, are permitted, SCOPE OF WORK: The scope of work for this appraisal is defined by the complehdy 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 neighbom0od, (3) inspect each of the comparable sales from at least the street, (4) research, verity, 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. DEANRION 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 marker, (4) payment is made in terns 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 properly 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 tor dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the markets reaction to the financing cc concessions based an the appraisers judgment STATEMENT OF ASSUMPTIONS AND LIMITINGCONDMCNS: The appraisers certification in this report is subject to the following assumptions and muting 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 wit not render any opinions about the tide. 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 good maps that am 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 'honed 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 wail not be responsible for any such conditions that do exist or far any engineering or testing that night be required to discover whether such conditions exist Because the appraiser le not an expert in the field of environmental hazards, this appraisal report must not be considered as an environmental assessment of the propery. 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 Penn 1004— 'WmWMTAL' afpranal software by a a neda, inc.-1A0OALAMODE Fannie Mae Form 10D4 Marco 2005 07/07/2009 12:07 MORTGAGE SERVICES -3 *919703395030 NO.0E9 P007 bJtliQ 96071061 Ptnr R$I Uniform Residential Appraisal Report 0055072177 Fie a' 9602306 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 Pertly 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 an any current agreement for sale for the subject property, any offering for sale of me 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 ere locatlonally, physically, and functionally the mast similar to the subject property. 8. I have not used Comparable sales that were the result of combining a land sale with the contact 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 me 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 pubic 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 repot from reliable sources that I believe to be nue 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 conditi ns (such as, but not limited to, needed repass. 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. 16. 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 mat favors the cause of any party, or the attainment of a specfic 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 signilcant 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 hem In this appraisal report therefore, any change made to this appraisal is unauthorized and I win 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 90 March 2005 Page 5 of 6 Fenn 1004—'WInT0TAIr assraisal sokvae by a h mode, Inc.— 14110-ALPMOOF Fannie Mae Form 1004 March 2005 07/07/2009 12:07 MORTGAGE SERVICES 4 *819703395030 NO.069 D00E Uniform Residential Appraisal Report it1eM9. 96023051 Pace #51 0055072177 FAN 9502306 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 supell/ISINY appraiser's (t 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 arty 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. 21 The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, unxiyage 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 sag., 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 analysts, opinions, statements, Conclusions, and the appraiser's certification. 2. I accept full responsibility for the contents of this appraisal report inclurng, but not limited to, the appraiser's analysis, opinions. statements, conclusions, and the appraiser's certification, 3. The appraiser identified in this appraisal report Is either a sub -contractor or an employee of the supervisory appraiser (or the appraisal firm), is qualified to perform this appraisal. and is acceptable tO perform this appraisal under the applicable state law. 4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 5. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature /�!� � �Signature Name Dallas Ben n n """II"• Name Company Name Appraisals On Time, LW Company Name Company Address Company Address 501 Sunmysbpe Pte, Lta nor. co 50557.6608 Telephone Number 19701222-0856 Email Address daas®lpbroadband.net Date of Signature and Report 00/061408 Effective Date Of Appraisal 06104/2009 State Certification* CR1324114 or State License # or Other (describe) State* State CO Expiration Date of Certification or License 1/2/2011 ADDRESS OF PROPERTY APPRAISED 14621 Weld County Road 80 Eaten, CO 80615 APPRAISED VALUE OF SUBJECT PROPERTY S 215.000 LENDER/CUENT Name Company Name Coldwef Banker Manama Company Address 5000 leaderalall Road, Mount Laurel, NJ 08054 Email Address Telephone Number 970-222.0555 Email Address Date of Signature State Certification # or State License # State Expiration Date of Certification or License SUBJECT PROPERTY ❑ Did not inspect subject property ❑ Did Inspect winery of subject Property from street Date of Inspection o 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 Freddie Mao Form 70 Mama 2005 Page 6 016 Fenn 1004—'WnTOTAL' appaial edawafe Sys h;mrb, nc.-1-S00.ALAMODE Fannie Mae Form 1004 March 2005 07/07/2009 12:07 MORTGAGE SERVICES 4 *819703395030 NO.069 P009 lade wa $602?Lt`d a;e #7! Uniform Residential Appraisal Report 0055072177 Rear 9602306 FEATURE I SUBJECT I COMPARABLE SALE #4 COMPARABLE SALE #5 COMPARABLE SALE #6 Address 14621 Weld County Eaton. CO 80615 Road 80 37495 WCR 27 Eaton, CO 80615 Pmdnhy to Sublect 228 mhos Sw SNe Rica S 205.000 3 257 900 " s °' 'vL4ir,Cl $ Sala Reafrms tiv. Ana S 127.97 Kit. $ 165.32 apt. .8 sell.'. -.I::,i!i ^':.,,5 saltl' DeaSoem(s) ;1161VI6i'i:', . MLS/ReatorlInapection Venfadim Sdecah) ': ';I°iFII:,. '. MLS# 580146 VALUE PIUUSTMEATS DescREnDli 06C81P1t8N +1-I $ Adjustment 0ESCRPT10N +I -I S A4NMmer4 OESCRIPM +(FJ 5 A4011%ol 5010 orRamona ConceU 0 5 N/A NIA Date Seleafe :l"o:.. A6Ny ysMv Location Eaton Eaton Leasehold/Tea Slmde Fee &mole Fee SYnple Site 4.50 acres 4.01 acres Mew MourWins Plns Mountaea/Plrw Design ISMe) 2 -Story 2 -Story WNlI d Construdmn Frame/Average Frame/Average Atoll PAe 1109 108 !nvera0e Aveta3C -20.000 Aa0Y4 Grade Atom Room Court Gross Living Ana i4 eu2 Bate Tsa111j19d3IR. Baas Teal amns. Baps TLC Demo, 8ahs 4 2 1 8 3 2 -1.000 1,602 ROIL 1,580 sqlt. ogll. MR. Ramon* 8 Anished ROM%Wow Grade None NIA None N/A Furob0m4 Utile Merge Araeraec NMtirq/C4od1g Grav1NOWV/A LPFAIAC -5,000 Enegi Effldert tens Natal Tw'oal G9ra94CaIPn0 2 Detached 3 Detached -3000 PorratioXesk PorcNPatio PortPado HeatetVSMII 51100 Due -moldings MitAdp5Med adm 74 61 • •29.000 rl + 71 - 5 El + El • S Adjusted 3211 Fitt Of ComPlEiles iii Ld'il6i f -..' n1 l I! 1 NeIAdl. 112 % Gross Adj. 112 % ,S 1 228.900 Net A4 % Gross Adl. % S 'rod Ad, % Gress Adj. % $ Report the results of the rested end metals d the prior sale nrtransler tiMary al the strict property and monde a sales Doerr addaiunmpr°r sale en Page 3). REM SUBJECT Ito/162007 COMPARABLE SALE e4 COMPARABLE SALE #5 COMPARABLE SALE #6 Date of PriorSak7Mnster 1 0/1 6120 0 7 Current Latino Price Ot Prior Sawrrasler iUnknown8N Deed Data SOpeets) ' Reception 3511589 Endive Dale et Dale Soviets) 06/2/2008 06/2/2008 Analysis d pnlon sale or transfer history of de tale%pro w% and comma* wiles AniMM4'Commna Reddle Mac Form 70 March 2005 Fannie Mee Form 1004 Math 2005 Eem t004.(AC)—1ViiTOTAL' appraisal activate by a a mode, inc — I$800h'AMWE 07/07/2009 12:07 MORTGAGE SERVICES 4 *819703395030 Building Sketch N0.0E9 9010 7e 'e. g6p2�a06f Pane n8) Bennie Andrew Dennis Property Address 14821 weld County Road 80 City Eaton GRIN Caldwell Barker Mortgage WI Wale Slats CO if COde 50815 20.3' Car 'UMW 203' ta.s Main Level 10.C 0.6 18.G SloiCe Stec R se 9.13 e 9 n 30.3' a.ak*ceN- S w Beth Got C4 Sams R Den Den Clot Cla Bedroom 30.3' Upper Level CommenM: Code 'AREA CALCULATIONS SUMMARY Oesoepeea MOW* MetToals G'tA1 Main Laval OpD�ppa�t�r Level D/$ 6cloaed Porch GAR stowage ng1 G[a Snap Nil LNAEL E Asea 607.1 615.1 172.0 606.0 32,0 176.2 (Rounded) 1602.2 172.0 406.0 581.3 1602 LIVING AREA BREAXDOWN: Breakdown Waded Bain Laval 20.3 It 30.9 615.1 16,6 a 20.0 372.0 Upper L. e12 s 30.9 615.1 3 Items (Rounded) 1602 Pam SKT.3IdSld — WTnTOTAI; 10prabai same Oy a l:! We. inc. —1-800-ALAaa}DE 07/07/2009 12;07 MORTGAGE SERVICES 4 *S19703395030 NO.069 0011 IEda,h(L55023CPaoe ssl Intended Use and Users, Additional Conditions Filexbs502308 no ea Andrew Dennis Property Address 14621 Weld County Road 80 City Eaton Ccunry Weld State CO Lp Cade 80515 GFad Co II Banker Moo oqe Intended Use and Users, Additional Conditions Intended Use and Users The intended user of this appraisal report is the specified client The intended use ism evaluate the property that is the subject of the appraisal fora mortgage finance transaction, subject to the Scope of Work, purpose of the appraisal, reporting reoukements of this appraisal report form, and Definition of Market Value. No additional Intended Users are Identified by the appraiser. This appraisal report has been prepared for the exclusive benefit of the specified client. It may not be used or relled upon by any other party. Any party who uses or relies upon any information In ins report, without the prepare's written consent, does so at their gem risk. Additional Conditions (Appraiser is not a buntline inspector or engtneerl "As part of the visual walk-through inspection preformed by the appraiser, the appraiser has not inspected inaccessible areas. If an Inspection of areas which are not accessible is desired, an expert in the field should be consulted." The appraisal was prepared for lending purposes, and does not constitute and expert inspection of the property.' 'This appraisal is prepared for mortgage lending purposes. It is not a home inspection report end it snould not be relied upon to disclose conditions of the property' ' It is assumed that there are not structural defects hidden by the floor or well coverings or any other hidden or unapparont conditions of the property: that at mechanical equipment and appliances are in good working condition; and that all electrical components and the roofing are in good condition. If the client has any questions regarding these items, it is the client's responsibility to order the appropriate inspections. The appraiser does not have the skit or expertise needed to make such inspections. The appraiser assumes no responsibility for these items' For FHA Anoreisais Only This appraisal is not a home inspection. and the appraiser Is not acting as a home inspector when preparing the report. The borrower has the right to have a home Inspection completed try a professional home inspector. When Completing the appraisal, a visual inspection was dens in accordance with FHA guidelines. The inspection is not technically exhaustive. The inspection does not offer warranties or guarantees of any kin Siadalum 44.4taa c.4 erpS Sipmbre lees Dallas Benton f �^� WfM Dale Signed 05/0V4008 gate Signed Stab CeitifizaWn # CR1324114 Slate CO SW Gepflpfen a Slam Or State Utast# State Or Sate Licensee Slate Farm TACOS— WinTOTAL appraisal software try a la mode, inc.— t-806AUMOOE 07/07/2009 12:07 MORTGAGE SERVICES 4 *819703395030 Aotvaisab On Time NO.069 D012 Ittedso 9fitim Pa u ztil APPRAISAL. ADDENDUM %Nes 9602306 STANDARD Bornaver Andrew Dennis Properly Address 14e2 1 Weed County Road 80 Cllr Eaton Cony Welo Sun CO Lo Code 80615 Client Caldwell (aerator Nbrtgace Commas affecting tale NerateOat Oatt The subiect Property is located approximately 4 miles northwest of the town of Eaton. The eree consists of single family residences On Site ranging from 1.80 acres with Some vacant land aS well, The widant lard in the area is primarily use for agricultural purposes. This is typical for the are and does not appear to have an adverse impact on the i marketability of the subset Schools and ShoOPirt4 Service are available in the town of salon. C the PRESENT MPROVEMEHrS to not cetorm to zoning reguhbons. captor: weaand/ot SEPTIC system (asbeelt noted. Tamura: Septic systems are typical far the area and do riot impact the marketability. It IfcOmnlon or eOrtaatiNled, tonveett The STREET is privately mairrtainred at the cost er the hvrnpwner: Ms wrllwil not affect he marketability of the hate. Comsat A deck was made for EVIDENCE Ce DAMPNESS ® TERMITES ] SETTLEIE tf A professional Ironton Mires recommended. Cattle a No evidence of dampness was noted therefore e professional inspection is not recommended. Settlement Is typical for ace. D you used any tom:grape sale tel required TOTAL GROSS ANIUST1WIT5 area 25% or INDIVIDUAL ADJUSTMENTS sxseeding 10%, wen btre WHY those were Ta comrade sake to uttoe and WHY Care are let better comparable nits is to area If you read any comparable sale that was OVER SD( MONTHS OLD or NOIRES THE Su9rECT. whin Iwo WHY they were tie 'lest comparable available' art WIfY be as aroma alms sates or newt sales available in Cis area. In your option is De sales price of Ire subject party being reeled by the TERMS 0FFCIANCING of any SELLER CCNCEBSIDNS? YES 0 NO C C YES, please Olin: _ Are al diind corpeehlt sails CLOSED SALES? Yes _- b pe LAM VALUE noted el the COST approach typical tOr the area? Yes a Al laid 'prole or liar as a SOURCE for a r otpaabla. del you otdepadenny verify the silo? —__ TES NO toe you attached a LOCATION NAP stowing location of ALL COPS? ® 0 Have you coamented on all FAIR a POOR nitres? ® ❑ Have you nutty warned me moms of to MPG SIETCH? 0 0 On NEW COMTROCnaN, it at twist one wore* tram outside me suddivisan? ❑ O Adage Comments: The digital photOgrasds and signatures in thiS report have not been altered. This report is intended for the use by this IenderLdient for thls_MPAPIl a transaction only. This report is not intended for any other use. APPRAISER'S SIGNATURE: oATF: 06!0612008 ,4� 4" (* Farm STA—1/inTOTAL• appraisal software by a le mode, Ise-—1-800-AiA1J0CE 07/072009 12:07 MORTGAGE SERVICES 4 *819703395030 Subject Photo Page NO.069 P013 IF 1e ws. oeossnsl v.np¢gUl Borrower Andrew Dennis PR0$1y Adtrens 14621 Weld County Road 80 City Eaton County Weld Sole CO 2b Code 60615 Client Coldwell Banker Mortgage Subject Front 14821 Weld County Road 80 Sake Fite 205.080 Brow Ong And 1,802 TOtM Rowe 4 Total Bedroom 2 kcal Balloon 1 Loudon Eaton yin Mountains/Pins SIB 4.50 acmes Quaky Frame/Average Ape 109 Subject Rear Subject Street form PlEa5SR—Y4nT0TAr awaisal SOltwae by a la msdc, int.—1.800-ALAM0EE 07/07/2009 12:07 MORTGAGE SERVICES 4 +819703395030 Comparable Photo Page NO.069 0014 10rpyo_S8025051Pa iO21 AoMMA( Andrew Dennis Pmomy Aeoress 14821 Weld County Road 80 City Eaton County Weld $tale CO Di Cade 80615 Client COldwell Barker Mortdace Comparable 1 19057 WCR 78 Rat N Subjatl 5.03 miles SE Saks Ptte 237.500 6r0So wing Area 1,224 Total Aomm 5 Total Badroams 3 Total Ba0000ms 1 Lacalon Eaton New Mountains/Pins 611E 2.58 aces OaalsY Frame/Average Age 88 Comparable 2 24437 WCR 76 Ras to MO 10.05 Mies E Saks Price 200,000 Gress Living Area 1,176 Total Rooms 5 total Bedrooms 2 Total aaraoml 1 Latati0n Eaton Nee MouAelns/Pins Sik 2.74 acres Quality FR Stucco Age 69 Comparable 3 33648 WCR 23 Prox lo Subject .81 miles SW Saks Price 59,000 Gross LMng Area ,986 Total Rums Toal Bedroom TWI Batmoms Imago Windsor New Mcunarhs/Plns See 4.59 acres OeeltN Frame/Average Age 116 Form PWe5CA— VARTOTAL' a{paleel St000s by I le mane, lnc.-1.800•ALAM001 07/07/2009 12:07 MORTGAGE SERVICES 4 *819703395030 NO.069 P015 lilt as 95025051 Pace *151 Comparable Photo Page Burma enemy panda Ptopaly Menu 14621 WO County Road SO C Eaton Gary weo Sun CO boucle 80015 Client Copwell Ranker Mortgage Comparable 4 37495 W CR 27 Prat to Subject .26 miles SW Saks Rice 57,800 SIMS Living Area ,560 Total Rooms Tots Bedrooms Total Barrooms Walton atop Vaw Mounters/Pins Silt 401 saes Duality F•amefAveraga Age 108 Comparable 5 Rye 4 Subject Saba Rine Gross Living Arm NM Rome Total Bedrooms Tale 6aBmdms Location VKw Si7 Watts Ape Comparable 6 Pmt to Subject Sales Me Gross umrg Aura Taal Rama retnearoome Total) Sates ass Loce6an View Silt Olealp Age Fam PE3a5.CR—1MnTOTAL' appraisal sallxme oy a k mode Irrt.— 1AW.ALAMOCE 07/07/2009 12:07 MORTGAGE SERVICES -> *819703395030 Location Map NO.069 P016 IRweb 98 I p #741 Boner Andrew Donis Poet Address 14621 Weld County Road 80 City Eaton Client Caldwell Banker Mortgage a la mode, a» • SJ 'till. '�J a✓< • Nirtthl GOWN Weld -rwl H1/25 Slats CO by Code 80615 ral ad e . I A1 rwnS 4 • e P.'-Fwi7 fOrre MAPLOC —•VMOTAL' app** Sdrwae by ale mode. int.-1-800-ALAMOOE ©7/07/2009 12:07 MORTGAGE SERVICES 4 *919703395030 NO.059 P017 jfile No 9602X61 Pae 1151 Flood Map Borrower Andrew Dennis PrppeM AOQresp 14621 Weld County Road 80 City Eaton Cooly Weld Salt CO LPCXt 60615 Cleat Caldwell Banker Mortoade 0 InterFiood A Wa*•M www.Neerfood.com • 1-800-252-6633 Prepared for: Appraisals On Time 14521 County Roe dB0 Eaton, CO 806158409 I ® taa.'oca SoureePeae Maio MM5*n. Cestative. At Ides leered. ?meats elate a4 a,en$id. ONr pawn polaq Fr Me: wre®IMdnelae.ten, FLOGDSCAPE l:pot Hazard$ Map b Nanbn 09025604750 Precept Date Septeeber 22,1999 >rwwred by ibeeeeurte 87717.F LO 00 wo.noodsowe.mm Fpn MAPAOCC—'WInTOTA1' appraisal solMare by a b node, Int.— 1-000.AIAMOOE 07/07/2009 12:07 MORTGAGE SERVICES 4 *819703395030 NO.069 P018 flleI0.B6O2TC61 Pace x161 ENVIRONMENTAL ADDENDUM aPEAHEtQ• HAZARDOUS SUBSTANCES AND/OR DETRIMENTAL ENVIRONMENTAL CONDITIONS Borrower morn. Dens Adam 14621 Weld Counts, Road BO City Eaton Cats Cameo Banker Mortgage Cowl Weld elk defined as that with is viable, caw; evident or m r feet to the a p pral$a. Slat CO Zip code 80615 Tins Sa il&airwomen Addendum s to use withany real estate appraisal. Only ate statements with Niue beenuteked by reunite, OA, to the Mery being apbra5ea. This addendum report He resups in me appraisers ratite inspector to and inquiries about the subject poppy and its surrounding area, b also states whet assurrarons were made about the tarsi (or nonedsMxe) of any hazwddjs substnes anWt detringele meironmental amnions. Theaanaleer IS net anpmeatnteroadC Sand Merton mitt be unaware in testing rgaardas sastncaa antor Watt b,nwental conditions Wert may have a matte ilea en the sett and tabs of the prapab, l is *able that tests and Inspecdms net by a quelled errvironmentl inspector would reveal It *stoma of hazardous mabdals endNr detrimental emiiwen emal cordless cn or around Pe property tut wads regadwy ailed its safety and valor. dllklil(;in.i�hife:!gfllth9pliIIIL'Ihr ,'.:DRINpNB WATER::'..atlt(t1 i :•Iliil@BBIIIIII�1 ' ; r'f+'i1111IIII WIII� x Diming Wads suppled to the subject from a madeipal wafer nwpy which Is canaldered sale. Molder me any way to be absohdtly certain that the water matt petted sbndads is to have Heated at discharge point. Drinking Warr is suppled by a will or other non-mudcpel soursa, It is recommended that tests be made to De oMan tat the propcM is suppled with adequate pure water. X L& can gd lit ddndp watwfmm d wee:0,1R pipes, et al discharge point, pluWifd Mates inner appliances. IN ody way to be tartan Hal water does not contain an uymefothble tad evel is to have it tested at dieciwge pants. x Theyatia estimated I this appraisal s based onlheassumption uatlrere Is an adegatewppryatsatstadiee Drifting Water. Commas 11 ;.u!t11NNhdNII...::. :'tSANITARYWASTEDISPOSALr'-':' Id!II IiNItt!Prl`Nor»arillioli RMMIIYl!EMICq Sargent Waste is mnoved horn the grebe by a municipal sewer system. X Smeary We a capes by, w* droller Sanyo, et wage dispose eyaml.The ray ward debmlm ter ere*pose systemd aaaete and in good weak tertian is to have a inspected by a quailed kkyectie. %lire vela e9Yeeted th !Seemliest Labia anti* assumption that Ow 9anmryWeete to deposed of by a winkles! ewe r er an at,* pelf M pmmtsd alternate bwetment system in geed exterton. Umtata SOILCONTAMINANT&u, ql .:: b':-1111pNIthIWitl1111pgtp i�'a:J lllllllll IIIIpQ There are no aeonajtsigns of toil Contaminants on Or nor the subject property (except as sported in Commas below). at pve&bk mat research, lasted* and sating bye ow red environmental Swag wma reveal Mute and/or phial rowdies substances miler detrimental awlrerm enter condoms on or around the property trot would negatively edam its safety a elm X Thcva*uc mimed in ado appraise] lbawd ontee amumpaon thettne Set property islRe&SWfantmients, Commends htlwbl::h,ai.,1111 literpIDp¢'n18r. , i'c1'pllb '11Mid Illpjliana: b I",''In r. X Al or pad 01 the improvements were constructed helm 1979 when Asbestos was a common busing matelel. The day way to be Certain that ma property is freeof (fable and w t -bb t ASbeSOS iS 10 have it Slid am tested by a malted asbestos inspect. _The ieproeneis wan SMMISed ally 1979. No wash !look Asbestos was observed texrapt en reported in Comet bebwl. X rte virtue alienated In this appraisal is based onthe sabumplsnlather. sno uaoabinedtriable Leaves or OllitntIVIONS Mobs materiel mgt properly. Commends VIII (here were no aWaeE leaking 9uoreeeaa lyoIA ballast, capacitors of transformers anywhere m or nearby the popsy (WSW es resoled In Comment below). _Than was m Li anal vl*dt ordacumaaea evidence town me Its minims d sat or groundwater cetoO don from PCBs anywhere on the dopey (extent as reported In Comments belated, X The value 'acted It Ns appraisal le Masco theassumptnatalars MS MS ormattsd PCBs onomattes property. INidih migl II RIPHRnP ',PCBs IPDLYCHLOMNATEDEPHEM'L'SIV.i;md'lidXllI MEIIS' Canons ai�.fiADON: it w'h gapgetrpl«q.rs;.;jpgNIIIIIIII�dRN%g ''..'railil The appraiser is not arm of any Radon test made on Lie sobjep papacy withal tae past 12 aromas Incept as reported in Comments below). X Tie appraiser is not snare Or any indicated gal tee ocawater kooks have been loud to have amend lams or Radon or Radium. The eppeiser to net aware d any nearby pifatds tomcat as repamd in Cannes bebsh) tit were or cursory ere used lot uranium, thorium or radium Mason Or ptaaplawecaeelrg, X The value S heated o this appraisal is band on the maudlin datdw Radon kaNl at °realm EPA redmmaddlevee. Cowards Awakes On Tim kern 0*--"WnTOTAL' appraisal sohware by a II made, ire, —1400-ALASICCE 07/07/2009 12:07 MORTGAGE SERVICES 4 •819703395030 N0.069 D019 (iris No 9602306] Pace Will ( rr.,, mrrnl�pgpl iy:p; USTS (UNDERGROUND STORAGE TAMER ! 6i7iligrai lIT {iF IiFd�,d X That is n0 Meth visage or documental evidence known to the appraiser of any USTs m the property nor any farms historical Me of the properly Met would gay have hid USTa. _Tae are re arm fetoleum storage anger Peeved Iacilate )scab) gamine Slaloms or chsmrical rnamdaduirg pads) mcalod on ad aced properOes (wept as Mande in Carnes% below). _There are =SUM ripe d USTs Sating Dew or •nthe peat on the &ubiec1 property. it IS retamnendSt trot m inspection by a quailed UST inspector be ohlained to adenine the Stated of any USTs together wit Idbr condition and doper repstraton B they are active and tl they are inactive, to determine whdhe by were deactivated In accordance with scot herby radices. x The value es5hbdinthis appmisalis band onths assumption datanytenttiaing UST; are not ledinpand see property legkend and thdany sneered Ms are tee hem opt unit tionalma wirydamed, tiled and NSW. Comments IltPlll'Olin it' I 'uls'"' "�'I'b�I111111111IlERIgWgNr iii) _There are no mug Nandeus waste Sibs CM Me subka Cmpeny to nearby the Subjet property (swept as repored to tarmac below). Hazardous Waste Ste search by a tphed enthragner al ergtea may Cdtampe Nat IMD is one of cm Nmardoa Waste Sites chain to area of the Stbatt properly. X lbw wax estimated Is oialmedial 4 WPM mite aretroPea tatlkte ire no Nitordcuarate tiles on ormeta the subpspopehy rttnMaUaeNaffect de vales coaled d the property Camaro `l,. ii!I r : "l It)S1" : Nu �"x? UFIFA�FONMALOEHIDErNFfi1INSU.BARN'r''iUl{I I IIIIIINP n' +r -rt (dIi;IINIIN 9 11 X AB or part d the Mammas were constructed before 1982 when UREA foambsubtlm was a cormontUbdg retelal. The orb way to he certain Malts woody is ha of UREA Mmalddryde is to ham it inspected by a cudfad UREA thri1dehyde Inspected. The tnbrmanen% were tomtucrtd ally 1982 No mad UREA formaldehyde magals were absented (at es reported In Commas below). X The eat estimated inlet appraiNi lad on the asnndbathat ame is no shmillantUFFI sMWtonerother aAfemndsydematerial eatee property. Commend �u!CIt:.:"::!nligINIIIIIII1Nil{6iili!{tmllie-"' , `"rnIP1111NtBlNllll X All or part a tie Improvements were constructed halide 1980 Men Lead Pa cos a Gannon building mdaial. Then b no as deka or Mown documented Stine of paring mfleldna Lead Prom on the Bows. Web or canes (except as reposed in Comment below). The any way be be cnlantratthe property is tree of surface or sbsunra teed Paat is to here n impeded ay a goateed impeder. ATM unproyemetb wane mM1gaced alt 1980. Rotund Lead Pahl was Observed (adept as legated in Commits bebw). X eta yeast estimated in INS*Mint abated onthawnplianlhal there is no% thug or peeling Lead Palm on the progeny. Comments IliHlhdd s<C iiAIR POLtUT10N-.,Lr,,-'!i)RI ��IIM u i r i I;',)Ilillll BOW Rye are ro weed signs d Aif PCLUam at Imo bide inspector err were tiro reported (exedra as rebated b &morels bebw). The only way to be cabin Vat the air is hie of potion is to have htested. X The value agitated It thb eppebdb temaenteaesumpiaa%MOPOrepetya hot of AirRolkators Commend L;!i? LJh. IU Iu4j;IJMloritil,• �Tro sift deed yd Main any MaidWdtnd0Acod Rims (adept a$ reaped in Comments below). The only way b be certain tat the sile is bee of Mande/ Rood Pains be be have g iMpeced by a qualified ednammrhl professional. X Maas estimated be tiepin -Jolt brad mthe esaunpllon Mete am Mweaemdgixel Plain metro property except as warted in tam marts tekw). IETAANDMIDOOG PUt tlI1)11IT NtIII .all J Dommeta ' x±ilnn >< u.:'.iliiliNggNuili!ubNHINutll �4 9.9IScDTtA.NEOUSE7MRONM IIWMD$tl Illitt ii: <•i'+.O.Ini X Thee are DO Other axial miseebnam mottoes nominees molar Petilmerealmbronmentai candtions on or be ha area at the site except a indicated blow Eeeere Nose Radon t Ere aaragnebc Radiates _ Uiot PotTNon _ Waste Neat _ Add Ike Drainage _ Agdpaloral Pytetm _ Geological Hart Nearby Netherton Probes Iambus Medial Wastes Pesticides Others (Chemical Storage +Storage Deane, Pipelines, ae.) IIIII (II tllalamd iC:j X The vain 'awned I thkappraial is based onthe asunpbnth them are eolakteelyreeus envammm4aNagrds(mod Most reported abast)thalwated negatiwy ea%the value tithe property. Whenany el the eMtwttMla aeeumpeas made it rob addendum m oat cared, the c.turnated value la tit pppraWI may ad onuses Fpm F9F — WnTOTAI' WPM ell Settee pry a l3 mode. inc. —1-900ALAMODE 07/07/2009 12:07 MORTGAGE SERVICES 4 *819703395030 NO.069 P020 Intl 86.029nAI zee al APPRAISER RESUME PERSONAL DATA.. Dallas F. Banton Phone Nurser. Number: 970-222-0856 Name: Company Name:Appraisals On Time LLC Fax 970687-6579 State of Colorado, Department of Reoulatary Aaendies 501 Sunmsbpe Place Certifications: Address: Loveland. CO 80537 Certified Appraiser. CR1324114 FHA Approved PROFESSIONAI.MEMBERSNIPS EDUCATION. Name of tra9baarr (HS, College, UniveesM. etc.) Cedes Mended Type of➢eepee o Certficale High School 1967-1970 High School Diploma Loveland Causes MmealealRelated) Dale Completed Sponsoring ➢rewazadon Professional/Technical frwalsts Fundamentals. 15 hrs Standards and Ellie June 1993 university of Colorado 40 his NCRE 2g2p•Licensed &orbiter 40 ha Appal Principals October 1095 University Of Catered° 208 ore Small Income Residential Properlles June 2000 University or Colorado NCRE -16 B hr USPAP October 2004 American Real Estate College Modular Housing November 2004 American Real Estate Coke 6 hr Manurach red and HOW Certified Reddened Appraiser 06125/2006 Arrlet*an Real Estate College 00 Mir/lard or ardeeahnal APcracal prsWt 06/26/2006 American Real Elate College 1a Ham 06 Uniform 8 Hour Mortgage FraW Seminar 05/05/2006 I. J. Hill Appraisal Services 4 Hour Lee Prwane:0 Mama tar Real Estate Amnia*" 06/12)2006 LIebalky Insurance Administrator.* Sumvurs, Catkrmpee. Clinics Attended Date ComSated Spoaolin9 Or5Malatiol Home 1raeecpore and Common Defects February 1995 National Association of Independent Fee Appraisers Radom me Real Estate Pro eseonel January 1995 U of C Wager, Reebrel Radon Training Center and Water lard and ➢reams Gating To Know Real Propene November 2002 CSU Cooperative Fatens'at • Later County Fraud, Ft and the FBI POMMY 2003 National Association of Indededent Fee Appraisers 99,1A 1.2C 0Efea6no oecumentm and Supporting Report Febrvar/ 2003 National Association of Independent Fee Appraisers Water Owning Colorado Stye June 2003 Colorado Association of Realtors Education Services EMPLOYMENT HISTORY, - il:pi .. Employee's Name and Address Business The Deem of Employment % of Time De6wats to Apoalelne 100% Appraisals On roe, LLC Licensed Appraiser/Owner July 2005 to unent Rocky Mountain Aerate' Services Branch Manager May 1998 to � 100% Roth)/ Maintain Appraisal ServideS Staff Appraiser Aug� 3 to May 1998 100% E7(PERIENCESUMMARY - I!i Accurate p l ass of eyalufiag elnple family residences, 2-4 family income propemlee and condominiums. Adherence of FNMA (Federal National Mmiga9e ASSQCJaton), and USPAP (Uniform Standards of Protesalonal Appraisal Practice) gudetroa. APPRAISALCOVERAGE AREAS' MARKET AND COST DATAISOURCES:.: Later, Weld and Bauder Coudea as well as Denver Metro ate, RS !deans Residential Square Footage Costs, .... '. �' REFERENCES. . Walter Huang President, CEO. Chairman and CEO Huang International, Int 1714 Topaz Drive Sults 106 Loveland. CO 80537 970231.0479 CAPS Orosboll GMWC Mortgage Budding Division 5028 West 19th Street Suite 2. Greeley, CO 80634 970-352.0447 She'@ Swenson Colorado Commurlb Lending Mortgage Company 80525 2966 5ivenvood Drive Fon Collins, CO 970-282-8442 Current license status available at the folloxing web address: (C4K ire rouoang httprteserimes.psiexamszomtliceneeelshowIndMdualLicensee.do? aselert7828 SIGNATURE OF APPRArsER- Ass 4 JAS®�LS�i(d$ HMc or out and paste to your browse/) ➢ATE 06/06/2008 Fenn APR—'WilTOTAL' appraisal adteere by a la mode. ins.— t-800-ALAMWE 07/27/2029 12:07 MORTGAGE SERVICES 4 *819703395030 Dallas 2007 License NO.069 D021 rle N19fip29961 PKpc Yt91 STATE OF COLORADO Department of Regulatory Agencies Division of Real Estate PRINTED ON SECURE PAPER: Licensee Signature Program Administrator t Fpm SCrLGL— W n707AL• appnisd sewn by a k =ii. du. — 7-800ALAAVDE 7 114 .r S rs tit COLORADO July 17, 2009 DENNIS ANDREW G 14621 WELD CO RD 80 EATON, CO 80615 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.: 070716000034 Account No.: R0828486 The Weld County Board of Equalization has set a date of July 31, 2009, at or about the hour of 1:30 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. DENNIS ANDREW G - R0828486 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 i c/ Esther E. Gesick Deputy Clerk to the Board cc: Christopher Woodruff, Assessor Hello