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Home My WebLink About20091820.tiffCLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4226 FAX: (970) 352-0242 P. O. BOX 758 GREELEY, COLORADO 80632 Wine COLORADO August 10, 2009 MASLOWSKI DANIEL J & 18075 OUTLOOK CT MEAD, CO 80542 RE: THE BOARD OF EQUALIZATION, 2009, WELD COUNTY, COLORADO - DENY PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE DESCRIPTION OF PROPERTY: ACCOUNT #: R8129000 PARCEL #: 106134002024 - MEA 1MGF L24 BLK2 MARGIL FARMS 1ST FIL SITUS: 18075 OUTLOOK CT MEAD 0 Dear Petitioner: On 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 your petition of appeal of the County Assessor's valuation of your property described above, for the year 2009. The Board of Equalization found that the evidence presented at the hearing clearly supported the value placed upon your above described property by the County Assessor. Such evidence indicated the value was reasonable, equitable, and derived according to the methodologies, percentages, figures and formulas dictated to the Weld County Assessor by law. The assessment and valuation of the Weld County Assessor was affirmed as follows: ACTUAL VALUE AS DETERMINED BY ASSESSOR ACTUAL VALUE AS SET BY BOARD $512,665 $512,665 2009-1820 AS0073 ey I jl `:L, C/it ?L. 6 ( rY/i i� �. MASLOWSKI DANIEL J & - R8129000 Page 2 A denial of a petition, in whole or in part, by the Board of Equalization may be appealed by selecting one of the following three options; however, said appeal must be filed within 30 days of the denial: 1. Board of Assessment Appeals: You have the right to appeal the County Board of Equalization's (CBOE's) decision to the Board of Assessment Appeals (BAA). Such hearing is the final hearing at which testimony, exhibits, or any other evidence may be introduced. If the decision of the BAA is further appealed to the Court of Appeals, only the record created at the BAA hearing shall be the basis for the Court's decision. No new evidence can be introduced at the Court of Appeals. (Section 39-8-108(10), C.R.S.) Appeals to the BAA must be made on forms furnished by the BAA, and such appeals should be mailed or delivered within thirty (30) days of denial by the OBOE to: Board of Assessment Appeals 1313 Sherman Street, Room 315 Denver, CO 80203 Phone: 303-866-5880 Fees: A taxpayer representing himself is not charged for the first two appeals to the Board of Assessment Appeals; however, a taxpayer being represented by an agent or an attorney must submit a fee of $101.25 per appeal. OR 2. District Court: You have the right to appeal the CBOE's decision to the District Court of the county wherein your property is located. New testimony, exhibits or any other evidence may be introduced at the District Court hearing. For filing requirements, please contact your attorney or the Clerk of the District Court. Further appeal of the District Court's decision is made to the Court of Appeals for a review of the record. (Section 39-8-108(1), C.R.S.) OR 3. Binding Arbitration: You have the right to submit your case to arbitration. If you choose this option the arbitrator's decision is final and your right to appeal your current valuation ends. (Section 39-8-108.5, C.R.S.) Selecting the Arbitrator: In order to pursue arbitration, you must notify the OBOE of your intent. You and the OBOE select an arbitrator from the official list of qualified people. If you cannot agree on an arbitrator, the District Court of the county in which the property is located will make the selection. Arbitration Hearing Procedure: Arbitration hearings are held within sixty days from the date the arbitrator is selected. Both you and the OBOE are entitled to participate. The hearings are informal. The arbitrator has the authority to issue subpoenas for witnesses, books, records, documents and other evidence. He 2009-1820 AS0073 MASLOWSKI DANIEL J & - R8129000 Page 3 also has the power to administer oaths, and all questions of law and fact shall be determined by him. The arbitration hearing may be confidential and closed to the public, upon mutual agreement. The arbitrator's written decision must be delivered to both parties personally or by registered mail within ten (10) days of the hearing. Such decision is final and not subject to review. Fees and Expenses: The arbitrator's fees and expenses are agreed upon by you and the OBOE. In the case of residential real property, such fees and expenses cannot exceed $150.00 per case. The arbitrator's fees and expenses, not including counsel fees, are to be paid as provided in the decision. If you have questions or need additional information, please do not hesitate to contact me at (970) 336-7215, Extension 4226. Very truly yours, 0 Esther E. Gesick Deputy Clerk to the Board cc: Christopher Woodruff, Assessor 2009-1820 AS0073 Weld County CHRISTOPHER M. WOODRUFF COUNTY ASSESSOR BRENDA DONES, DEPUTY ASSESSOR VALUATION REPORT OF RESIDENTIAL IMPROVED PROPERTY FOR County Board of Equalization MASLOWSKI DANIEL J & MASLOWSKI KAREN M PETITIONER VS. WELD COUNTY ASSESSOR'S OFFICE RESPONDENT Parcel Number: 1061-34-0-02-024 Schedule Number: R8129000 Log Number: 2466 Date: 8/5/2009 Time: 11:00 AM Board: Board #1 PREPARED BY DUANE M ROBSON Signature Date ASSESSOR'S OFFICE STAFF APPRAISER ASSESSOR'S VALUE RESIDENTIAL $512,666 Total: $512,665 CBOE_RES 010898 Page 1 2 1- I912o GENERAL DESCRIPTION AND MARKET SUMMARY SUBJECT SITE AND IMPROVEMENTS This property is located at 18075 OUTLOOK CT in the city of «CITY». The legal description of the property is MEA 1MGF L24 BLK2 MARGIL FARMS 1ST FIL SITUS: 18075 OUTLOOK CT MEAD 0. Utilities available to the site are typical for the area. The residence is a Frame Siding house constructed in2001. It has 4025 square feet of finished living area. There are 4 bedrooms. The Assessor has classified the structure as a 2 Story home of Good quality, using Good quality materials. CBOE_RES_010 Pagi MARKET APPROACH SUMMARY Real property for the tax year 2009 must be valued utilizing the level of value for the period of one and one-half years immediately prior to July 1, 2008. A period of five years immediately prior to July 1, 2008 shall be utilized to determine the level of value if adequate data is not available from such one and one-half year period to adequately determine the level of value for a class of property. Said level of value shall be adjusted to the final day of the data -gathering period. Changes occurring between base years are not to be accounted for until the following level of value is implemented, other than additions, change in use, detrimental acts of nature, damage due to fire, etc., creation of a condominium, new regulations restricting or increasing the use of the land, or a combination thereof (39-1-104(11)(b)(I), CRS}. The Weld County Assessor has an established ongoing Sales Confirmation and Validation Program for property transactions used in developing values. The subject property has been classified as Residential for assessment purposes. Residential property value shall be determined by appropriate consideration of the Market Approach to Value {39-1-103(5)(a), CRS). The Assessor has considered this approach to value for the subject parcel. ASSESSOR'S VALUE RESIDENTIAL $512,666 Total: $512,665 CBOE_RES_0108 Page Comparable Number Comparable Number Comparable Number CBOE_RES_010 Pago Comparable Numbei Comparable Number CBOE_RES 0108 Page fl § 41441 ce §o v c « 70 k U 2 W 0 co kj k m O 00000000 OD 49 0 cs CO N OD N 69. 69 19 69 \Ce w , o (• §t▪ r) o o o\N 0 47, 69 o CO 0 0 CD <N OS CO 110 40 r IN CD r- oo m 03 DI 03 00000 4000000RION000000 CD CO CO CO • el ce �! ol 01 CD of n o „ 0 \ § F- 13 o To- o 0 o0? 69 §§e$2« ■�a`zN 0rftftr ,aaSWEs:aaaaa@aaaaaa 0 LL DI o � ,ro\• ,to 0 , ,,0F —N 0 0 LL CO ▪ 0 CD Eta. 5° a)) (.9oz scr 0 ) © 0040 ,§f$2Mr 32+2,»9 .0k\/ 13 J O 41 n n n 2 §\49\0§»,0)) r CO LL ,a• o o § 8 ,0)§ 0, , so { 223+7 V)EO555EOC !!!!, # ! ; MO • €!§§||,!!(($(j! "Ts mjzOmmmmm000000j„ 3« 0 P- O 09 pi CC CD DI CD 1- ca co CC O a a) o w m Vco Z•2 in \o q Co \ k O k m § a®88§!a E a U1 r k err,NO o 2&;,2; .4" 6969SS01006969SeISOLCIOSSSS 69 CO ▪ 49 49 69 \\E , maaa&*8waa222Ua4aaaa k o LL f o co ,a• }(§/0)00),)§ to 0 03 0 0 o ▪ co <N cri LL 2▪ !)LL o 00 tWTo j !//§f 0 O az<< U)o40 t§• N S '°•'- § - 01 (11 03 /N0 cn co � o .- D 0 N 11 )k} { 00202 15 m�lr@#yE0c !!a!! I ! ; §=§||;J!#((e()!/\7 §j{!]]!2w000000 „ d; tri 43 01 c‘i CO 69 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 R8129000 2009 4175 MEA 1MGF L24 BLK2 MARGIL FARMS 1ST FIL SITUS: 18075 OUTLOOK CT MEAD 0 18075 OUTLOOK CT , CO 0 PROPERTY OWNER MASLOWSKI DANIEL J & 18075 OUTLOOK CT MEAD, CO 80542 PROPERTY CLASSIFICATION ASSESSOR'S VALUATION ACTUAL VALUE PRIORACTUAL TO REVIEW VALUE AFTER REVIEW RESIDENTIAL 512,666 512,666 TOTAL $512,666 $512,666 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: AL01 - Your property has been uniformly valued following Colorado law. Your protest of value has been denied due to comparison of other similar properties which sold during the 2007/2008 time period. If you disagree with the Assessor's decision, you have the right to appeal to the County Board of Equalization for further consideration, § 39-8-106(1)(a), C.R.S. The deadline for filing real property appeals is July 15. The deadline for filing personal property appeals is July 20. The Assessor establishes property values. The local taxing authorities (county, school district, city, fire protection, and other special districts) set mill levies. The mill levy requested by each taxing authority is based on a projected budget and the property tax revenue required to adequately fund the services it provides to its taxpayers. The local taxing authorities hold budget hearings in the fall. If you are concerned about mill levies, we recommend that you attend these budget hearings. Please refer to last year's tax bill or ask your Assessor for a listing of the local taxing authorities. Please refer to the reverse side of this notice for additional information. 15-DPT-AR PR 207-08/08 NOD p'. 3429 APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 1 through August 5 at 915 10`11 Street, Greeley, CO To appeal the Assessor's decision, complete the Petition to the County Board of Equalization shown below, and mail or deliver a copy of both sides of this form to: WELD COUNTY BOARD OF EQUALIZATION 915 10TH Street, P.O. Box 758 Greeley, Colorado 80632 Telephone (970) 356-4000 Ext, 4225 To preserve your appeal rights, your Petition to the County Board of Equalization must be postmarked or delivered on or before July 15 for real property and on or before July 20 for personal property — after such date, your right to appeal is lost. You may be required to prove that you filed a timely appeal; therefore, we recommend that all correspondence be mailed with proof of mailing. You will be notified of the date and time scheduled for your hearing. The County Board of Equalization must mail a written decision to you within five business days following the date of the decision. The County Board of Equalization must conclude hearings and render decisions by August 5, § 39-8-107(2). C.R.S. If you do not receive a decision from the County Board of Equalization and you wish to continue your appeal, you must file an appeal with the Board of Assessment Appeals by September 11. If you are dissatisfied with the County Board of Equalization's decision and you wish to continue your appeal, you must appeal within 30 days of the date of the County Board's written decision to ONE of the following: Board of Assessment Appeals District Court 1313 Sherman Street, Room 315 9 Avg end 9th Street, P.O. Box C Denver, CO 80203 Greeley, Colorado 80632 (303) 866-5880 Telephone (970) 356-4000 Ext. 4520 www.dola.colorado.gov/baa Binding Arbitration For a list of arbitrators, contact the County Commissioners at the address listed for the County Board of Equalization. If the date for filing any report, schedule, claim, tax return, statement, remittance, or other document falls upon a Saturday, Sunday, or legal holiday, it shall be deemed to have been timely filed if filed on the next business day, § 39-1-120(3), C.R.S. PETITION TO COUNTY BOARD OF EQUALIZATION What is your estimate of the property's value as of June 30, 2008? (Your opinion of value in terms of a specific dollar amount is required fqr real property pursuant to § 39-8-106(1.5), C.R.S.) $ 41-5DOa What is the basis for your estimate of value or your reason for requesting a review? (Please attach additional sheets as necessary and any supporting documentation, i.e., comparable sales, rent roll, oo/'r�iig�iin��al install cost„appraisal, etc.) f l www nnn _ C2A-n jet M/lY CP ,p -h e ound yt.D annd n Q ATTESTATION I, the undersigned owner or agent' of the property identified above, affirm that the statements c nt fined herein and on any attachments hereto are true and complete. 3O33 to& I "0/ D Tu l 14, zoos ign to Telephone Number Date Attach letter of authorization signed by property owner. 15-DPT.AR PR 207-08/08 NOD #'. 3429 DANIEL AND KAREN MASLOWSKI July 14, 2009 Christopher M Woodruff WELD Assessor 1400 N 17th Ave Greeley, CO 80631 Dear Mr. Woodruff: We are writing to dispute your recent valuation of our home. We understand that the county is looking for ways to increase tax revenue, but we do not agree that the valuation on our home is correct. We also understand that the valuation is done on past values so here is the history of the value of our home. Our home is Account # R8129000 — MEA 1MGF L24 Blk2 Margil Farms, 1P' FIL SITUS 18075 Outlook Ct, Mead, CO 80542. We purchased the home in August 2005 for a sum of $474,000. The real estate market in Mead was slow at that time and our house was on the market for 18 months prior to us buying it. We remodeled the downstairs of the house to meet our tastes. According to your assessment, the house increased $38,666 or 8.1% from 2005 to 2007/2008. Having seen houses in the neighborhood remain on the market for 6-12 months and several of the new home builders file for bankruptcy protection, we did not see any evidence of a pick up in the real estate market here. In the beginning of 2009, we paid for an appraisal of our house for refinancing our mortgage. A copy of that appraisal is attached. I did talk to a representative from your office when we were first notified of the change in value. The idea that the house increased and decreased by about $38,000 in 2 years is not a logical conclusion. Her answer to my claim was that we must have gotten a `bargain' on the initial price. To me this indicated that she could not substantiate the change either. Please do not inaccurately and unfairly assess our home in order to raise the taxes collected. Sincerely, Karen Maslowski Daniel Maslowski 18075 OUTLOOK CT • MEAD CO* 80542 File No. 9022040 *•******* INVOICE ********* File Number: 9022040 March 6, 2009 Sue Alpan Cherry Creek Mortgage Co 1844 Folsom Street Boulder, CO 80302 Borrower: Maslowski Invoice #: 9022040 Order Date : February 23, 2009 a Single Family Residence 18075 Outlook Court Mead, CO 80542 Appraisal Report $ 350.00 $ Invoice Total $ 350.00 Amount Due $ 350.00 Terms: 30 Days Please Make Check Payable To: Bremner & Associates P.O. Box 42 Boulder, CO 80306 303-494-1399 Office 303-494-1398 Fax Bremner & Associates Uniform Residential Appraisal Report Fie No. 9022040 The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subjagyroperly. PropeeryAddee 18075 Outlook Court on Mead State CO ziocode 80542 Borrower Maslowski Owner of Pubic Recall Maslowski county Weld Lepel Description L24 Blk2 Margit Farms 1st FIR Assessors Fined 1106134002024 Tex Year 2007 R.E. Taxes s 3,232.00 Neighborhood Name Marl Fames Map Reference 254F Census Tna21.00 Marl wner Owner I Ompw®O I I vacant 5.::- Assessments f None Noted b:1PUD HOA$4OO.OO ® per year I Ipermont ProceetylUgMa • ,.:'.:r [X)Fee Simple L ILeaae(describe)d I *hi(describe) Two 1 I PurchaseTransaaon ® Refinance Transaction I IO6mr (desate) Lender/alara Cherry Creek Mortgage Co Aetlrees 1844 Folsom Street, Boulder, CO 80302 Is the subject peopedy wrten*y offered for sale aches elven offered for sale in the twelve months prlorb the effective dab onto appraisal? I lye. 1.1 No Report data sowre(s) aced, offering adobe), and date(s). MLS/County Records I U did Hid not analyze the contract for sale for the subject purchase traneadion. Explain the results of die animal of the contract for sale or sty the analysis via not performed. N/A Cawed Price s N/A Data of Cantrad N/A lithe meet' seller Member of pudic record? L lye. l }No Data Sosce{s) N/A Is there any Mandel assistance(loan does, sale cometprw, gift srdowypaNnent assistance, etc) to be pad by any party on behalf of the borrower? LJVee LJ No If Yes, report the bbl doter amount and desalt* the Perm to be paid. N/A Note: Race and ma racial composition orine neighborhood .rent epprei W rector.. Naldhberheodehaterlelce OnelnlHousing Trends Onsbit Noosing Present Land Um% Locaaniyt Urban Suburban Rural Property Values Inaeseing Stable Defining PRICE AGE One-Udl 90 % Built -Up ILOver?5% 25-75% Under25% DemandSuppn ,Shortage In Balance— Over Supply 5(000) (yrs) 2-4 UnI GmMA Reed SMhb Slow Matelhp Tim Under 3oils 3omtte Over6mths 110 Low 20 MutFamey % Neighborhood Boundaries County toad 32 South, Hwy 25 East, Mead City Limits 700 High 50 cdnmada x North, and County Road 7 East. 350 Pad. 35 other Agr. 10 x Neighborhood Desalpban The neighborhood is composed predominantly of custom single-family homes of varying styles and sizes on acreage lots. Matksicaismone (mdud rig appal to re move condusiona) Based on a review of recent sales data, marketing time for the subject's neighborhood is estimated to be 3-6 months. Standard financing is still prevalent. Seller concessions up to 3% of sales price are not uncommon. mimesis Survey Not Provided Area 1.26 Acres (Co.Recs) Shape Irregular View Foothills/Plains Specific Zoning amsaaan PUD zamno Desotho Planned Unit Development Bata Cm7Wo ®tregal I 'Legal Nonconforming (cmamwwa use) I Iw Zaftig I illegal (ascribe) Is the highest and bed use oldie soiled property as inceoved(o as proposed per plane and specifications) the present use? IN Yes LJ No fNo, describe. Dmllle. Pabllc other(describe) Public olnerip...te) Oretrelmprovements—Type Public Private ® Water Q�1 Street Asphalt �ElasMdy ® Sanitary sewer A) may None —, _ FENA Spells Flood Hazard Area Li Yes .A No FRAM Flood Zone C FEMA Map ft 080266 0725C FEMA Map Date 09/28/1982 Are the tires and obeli improvements bnial for the market area? 1:1 Yes Li No If No, deaote Are ewe any adverse she conditions or external facia(easements, evotedamm, eneronmemb mdiam, land uses, etc.)? Li Yes ®No I'll's, dawbe. _ GENERAL DESCRIPTION FOUNDATION EXTERIORDESCRIPTION moeeiYdmn6Xan INTERIOR matalIs/ (ton Urns lit One I loewm Accessory Unit I}�'Concrete Stab ACrawl Space Foundation Wake Concrete/Avg Foes Hwd?ik/Cpl/Gd I5/Stales 2 J�jFull Basement Partial Basement Exterior Wells WOoli/Brick/Gd Wane Drywall/Good *le ®bet UAa S-DetiEd Unit Basement Area 1733 sq. a Roof Surface Comp. Sh./Gd Tsttoph Wood/Good QEdeong I (Proposed kinder Coast. Bammem Finer 0% Gutters& Downspouts Metal/Good Ben Floor Tile/Good Design($rheI 2 Story Outside Em_ry/Eoi Li Sump Pump Mimi Type Dual Pane/Gd Ban Wainscot Tile/Good veal ea2001 Evidenced LJlntesaeon SWmSashAnsubkd No/No Car Storage I I None Effective Age (Yrs12 I I Dempreas (Settlement Screens Yes Driveway iceCam 3 Adle lime Healing I I FWA ( HVSB II I Radiant Amides I woodstove(s)d Driveway Surface Concrete ofnp Stair Slake IOtlter IFpN Gas 1 Fence Garage M of Can 3 { Floor $5dmle Coding IY CentsAk Conditioning !Fireplace(s)11 PaaNede /,l Poch Carport 1 of Cars Frilled HmIM {�sa�I(Indivkual Jtl/ 1pher Pod IIOOC� Att. I loot H2t B5tHn tower ,, swimas IP IReidgeratie E]RangelOven `Y7 DiNnveder fAJ Disposal L IMbowave I IWuherNryer I lOM(amqr*e) Finished arm above grade contains: 9 Rooms 4 Bedrooms 4 Ber(s) 4,003 Square Feet of Grins Living Area Above Grade Additional teatimes (special energy Merit items, etc). Dual pane windows, central AC, full unfinished walk -out basement, slab granite kitchen counters, wood cabinets, and hardwood floors. Despmelhe rnldOon of the properly)ncidirg needed repairs, deterioration, renovations, remodeling, etc). Less than typical physical depreciation noted due to good maintenance and recent remodeling. Since 2005, the owners have completed significant improvements including: remodeled kitchen with slab granite countertops, added air conditioning, replaced the front first to second floor staircase, added hardwood flooring, added french doors, new paint, new carpet and landscaping. lie there any physical deficiencies or adverse conditions that aped the liability, easiness, or sbuWrd into" of to propedyw U Yes Xii No ft Yes, describe. Xi m th1 e property generally radon to the neighborhoodgundionel Wily, We, condition, use, construction, etc.)? I./ Yes UNo If No, describe. FMB Mx Font N Wm Sae Rorglrp AP 4..n a➢ZNelrwn.vltmn Nail dB Fan* Ma lam 101:414N' TKe Uniform Residential Appraisal Report Re No. 9022040 There are 14 comparable properties currently offered for sale m to subject neighborhood ranging in mice from $ 349,971 Ins 795,000 There ere 17 compamaoesales in the Sled neighborhood within the past twelve maths rangng in sale price from $ 348.000 ton 690,000 . FEATURE [ SUBJECT COMPARABLE SALE NO. 1 COMPARABLE SALE NO.2 COMPARABLE SALE NO.3 18075 Outlook Court Andress Mead 230 Mulligan Lake Drive Mead 3126 Weld County Road 36 Mead 18063 Wagon Trail Road Mead Pmnmiy to Subject 2.7 MIS 0.99 MIS 0.17 MI W Sale Price s N/A s 575,000 s 422,000 $ 400,000 sae Ay&ryatiuv. Area $ 0.00 sett $ 112.48 set $ 98.55 sun. s 140.65 sq.t Data Source(s) County Records MLS#579717 MLS#555257 MLS#568343 vedncetau Source(,) Inspection Agent Verified County Records County Records VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION •)1s min DESCRIPTION ill A4maram DESCRIPTION to Assumes Selo or Financing Concessions N/A DOM: 50 Conventional DOM:316 Conventional DOM: 101 REO/Conv. Date ofsale/rnms N/A COE: 10/21/08 COE: 12/2/08 COE: 8/14/08 Location Margit Fanns/Gd Mamma takmw„mVG -50,000 Mead/Good 0 Margin Farms/Gd LeeseholdlFee simile Fee Simple Fee Simple Fee Simple Fee Simple Site 1.26 Acres 1.87 Acres 0 8.76 Acres -7,000 1.21 Acres 0 View Fthls/Plains/Gd Fthls/Water/Gd 0 Fthls/Plains/Gd Fthls/Plains/Gd Design (Slyb) 2 Story/Avg Ranch/Avg 0 2 Story/Avg 2 Story/Avg ouay of Construction Good Good Good Good Actual Age 8 Years 8 Years 36 Years See Cond. 9 Years Combo, Good Good Avers a 25,000 Good Above Grade Rowel Count ovviimaNee30.00 rm aa,w�esJJ ones rml gem. eve,e Tod lam 9a. 0 rml e� ]f BPS 9 4I 4 9 4 3.25 3,000 8 4 2.5 6,000 9 4I 2.75 5,000 4 003 sq.IL 5 112 Muff -33,500 4 282 sue -8,500 2 844 eq.g 35,000 Basement$ Finished Rooms Below Grade 1733 Sq.Ft. Unfinished Fin. Walk -Out In Above GLA 0 0 No Basement 17,500 0 2480 Sq.Ft. Unfinished -7,500 0 Functiaal (Maly Average Average Average Average Neaulgltodbg Central/Central Central/Central Central/Central Central/Central Energy Efficient Items Typical Typical Typical Typical Garage/Carport 3 Car Garage 3 Car Garage 10 Car Garage -7,000 3 Car Garage Porch/Patio/Deck Porch,Patio,Deck Poreb,Patio,Deck Porch,Patio,Deck Porch,Patio,Deck Net Adjustment pars) I I. PK1- $ 80,500 IXl« (1- $ 26,000 XI. []- s 32,500 Adjusted Sate Prim of Conpwables Net Adj. -14.0% Gross Al. 15.0% s 494,500 Net At. 6.2% riesAn 16.8% $ 448,000 Net At. 8.1% Gramm.. 11.9% $ 432,500 I did Udd not research the sale or transfer Malay ofthe subject property and comparable sales. Ifret, explain My research I ldld Mad not reveal any prior arses or transfers of the subladpaperly fur the goon yeas Odle is the effective date ofthis Mantel. Data aaam(e MLS/County Records My research Wired I led not reveal any prior sales or transfers of the comparable sales firth, year prom the date of sale of the caparate sale. beta scamp) MLS/County Records Report the results of the research and analysis of the pries sale or transfer Newly doe subject property and comparable Wes (moon additional Prior sales on page 3). rrru SUBJECT COMPARABLE SALE NO.1 COMPARABLE SALE NO.2 COMPARABLE SALE NO.3 Date oPrior snertrandar 9/13/2005 No Prior Sales No Prior Sales 4/14/2008 late n Pnor Sa s/Tranef r $474,000 In Last 12 Months In Last 12 Months Trustee Deed (No $ Given) Date Saam(s) MLS/County Records MLS/County Records MLS/County Records MLS/County Records Effective Date of Datasaam(s) March 6, 2009 March 6, 2009 March 6 2009 March 6. 2009 Analysis dprice sale avanefer history Mho gulled properly amcomparable We, The subject was previously listed and sold in average condition on 9/13/2005. Since this transfer the owners have completed improvements including: remodeled kitchen with slab granite countertops, added air conditioning, replaced the front first to second floor staircase, and added hardwood flooring. Comp #3 is an REO sale that previously transferred as a foreclosure. Summary of Sales Comparison Approach. See Additional Comments Indlmbd Value by sales CantemonAppraach $ 475,000 Indicated vaueby: Sales Comparison Approach 6475,000 Cost Approachla developed)$ 479,000 Income Approach (If developed)$ N/A Primary weight is given to the sales comparison approach as it best reflects the buyer's reaction in this market. The cost approach is considered less reliable due to the difficulty in estimating accrued depreciation on older structures. The income approach is not used as the neighborhood is predominantly owner occupied. This wain] g made ,•/'tins; UeUbfea to canpletion per plans and epedlmtons an the basis of a hypothetical condition that the improvements harebmn:omitted. ❑subject to the blowing repeal a alterations on the bans era hypothetical condition that the repairs or alterations have been completed, or Uwbjed to the l°Aeatg required Inspection based on the awaordnav assumption that the condition or dendency does not require alteration or repair: See Additional Comments Belied one Complete visual inspection of the interior and exterior areas of the subject property. dellned scope of work. statement of assumptions and rimming conditions. end appraiser's certification. my lour) opinion of the merlon value, as defined. of tin reel property that is the subject of this report is $ 475,000 lam March 4, 2009 , whim Is thedse ofinepectlon end the effective daleofthls appraisal, M: Font Tr hSNbe4 nelof 54 M ramp; an.am w,ulmn Pp]ae Bremner & Associates Fsites Reeled Mad SOS labia all's Uniform Residential Appraisal Report Fie No. 9022040 Summary of Market Data The appraiser conducted a 12 month search for comparable properties within the subject's immediate neighborhood and similar competing neighborhoods. Those comparables utilized in this report are considered the best available and the most representative of the subject property. Adjustments are based on market data, matched pair analysis and/or the appraiser's experience in the market area and are considered to reflect the typical buyer's reaction based on the principle of substitution. All sales are verified closed. The subject and comparables are located on acreage. For this reason it was necessary to exceed a one -mile search radius. Sale comp #3 and listing comp #4 are taken from the subject's immediate neighborhood of Margii Farms. Comps #1 and #2 are taken from similar competin . areas. Differences in lot size of I acre or more are adjusted at $1,000/acre. Comp #1 backs to a neighborhood lake with good location appeal and is adjusted downwards $50,000. Value for differences in age, remodeling and updating are reflected in the overall condition ratings. The subject, comps #1 and #3 are in similar good overall condition. Comp #2 is in average condition and is adjusted upwards $25.000. Comp #4 is in very good condition and is adjusted downwards $25,000. Value for additional bedrooms is reflected in the GLA adjustments. Differences in bathroom count are adjusted at $1,000/quarter bath. Differences in Gross Living Area are adjusted at $30/SF (rounded to the nearest $500). Differences in unfinished basement area are adjusted at $15/SF. Finished walk -out basement area is reflected in the GLA for similar quality finish function and flow. Additional garage spaces are adjusted at $1,000 each. Due to a lack of similar recent sales it was necessary to include comparables greater than 20% smaller in GLA than the subject. Comps #3 and #4 are included for proximity. Due to a lack of similar recent sales it was also necessary to exceed 15% gross and or 10% net recommended adjustments on some of the above comparables. Reconciliation: Greatest weight is given to comp #1 for similar age/condition, and #2 for recent sales/similar GLA. Additional support is provided by listing comp #4 for proximity. The subject's value is higher than predominant for the area due to larger than typical GLA range. Conditions of the Report This is a summary appraisal report of a complete analysis. The Intended User of this appraisal report is the Lender/Client. The Intended Use is to evaluate the property that is the subject of this appraisal for a mortgage finance transaction, subject to the stated Scope of W. of the appraisal, reporting requirements of this appraisal report form, and Definition of Market Value. Nopaddit onal Intended Users are identified by the appraiser. 's report is not intended for any other use. The appraiser's signature is a digitized image and complies with USPAP standards. COST APPROACH TO VALUE (not required by Fannie Mae) Prot adequate infamedon for the lender/client to replicate the below coat Tgaea and calculation. Support for the opinion of slle value (summary of comparable land sales or other methods for estimating determined by extraction method. site value) No vacant land sales available. Land value ESTIMATED I I REPRODUCTION OR N.Y REPLACEMENT COST NEW OPINION OF SITE VALUE =s 50,000 Source ofcost data Bluebook AppraiserBASE/Local Builders Deelling 4,003 Sq. Ft g 85.00 =s 340,255 Ouatily rating fmn and write Good Effective dare of cost data 3/09 Bsmt: 1733 Sq.Ft as 30.00 =s 51,990 Comments on Coat Approach irons living area calculations, degedadon, etc) The replacement cost estimates and the physical Garage/Carpal 838 sq. rt as 30.00 = s 25,140 depreciation (using the effective age/economic life TSs! Estimate of Cast -New = s 417,385 method) are based on Bluebook AppraiserBASE Less 70 Physical Functional Eelanm Software and/or local builder figures. The land value is Deretsian 2% = s( 8,348) determined by extraction and the resulting land to value Ontedated Cold Imao.nnenta = s 409,037 ratio is typical for the market area. “Aa-la`Value Ostia Improvements . = $ 20,000 Estimated Remaining Economic Life (HUD and VAOMy) 68 Yeas INDICATED VALUE BY COST APPROACH =s 479,000 INCOME APPROACH TO VALUE (not required by Fannie Mae) Eownated Monthly Mshaf Rants N/A %Gross Rant Muipbar N/A =s N/A bickered Value by Income Apaoad, Summary of Income Approach (Including support fomatet rent and GRM) The income approach is not applicable as the neighborhood is predominantly owner occupied, and there is insufficient data to establish the GRM. PROJECT INFORMATION FOpPuDe Ofapplicable) Is the deyelapenbuilda in content of the Harhmawas' Association (HOA)? I I Yes 1:11 No Unit typels) (XI Delad'ed El Atadied Pravda the following infamaton for PhDs ONLY if the developeribuilder is in control Stile HOA and the subject propel Is an attached dwelling unit. Legal nameofpviect N/A -The developer is not in control of the HOA and the subject property is not attached. Taal number d phases Total number of prdb Total nut d units sold Total number of units rented Total number d imitator sale Data source(s) Was the project seated by the conversion San eds5n buiremg) Otos PUO? t )Yes I INC If Yes, date of mammon. Does the project contain any multidsSg cabs? I lYef ` jNo Data source(s) Are the units, commar elements, and maeatcn facilities compate? UYes LiNo If No, deserts the statue of completion. Are the common elements leased to or by the Heneowners'Association? Li Yes UNo If Yes, describe the rental lams and options. Desai a common elements end recreational facilities. Heft Mac Fdin 70 March TYY Preen* eeAa as .em.ee.el.ame Feet We Fran eaaq�e Uniform Residential Appraisal Report Foe No. 9022040 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 analysts, opinions, and conclusions in this appraisal report. INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the p.r{Feity 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. DEFINmON OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with the sale. "Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraisers judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDmONS: The appraiser's certification in this report is subject to the following assumptions and limiting conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it, except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opinions about the title. 2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements. The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in this appraisal report whether any portion of the subject site is located In an identified Special Flood Hazard Area. Because the appraiser Is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand, or as otherwise required by law. S 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. Sew Mx Fran 70 MN. 1005 Produced att rc, .eat 11111.234.717 wow achmili own ny,rve Fn; Ma ran 1004 MM 105 'da_d10Tewi Uniform Residential Appraisal Report File No. 9022040 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 Un'dorn Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 4. I developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop them, unless otherwise indicated in this report. 5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject properly, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report. 6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report. 7. I selected and used comparable sales that are locatonally, physically, and functionally the most similar to the subject property. & I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home that has been built or will be built on the land. 9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales. 10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial Interest In the sale or financing of the subject property. 11. I have knowledge and experience In appraising this type of property in this market area. 12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listing services, tax assessment records, public land records and other such data sources for the area in which the property is located. 13. I obtained the information, estimates, and opinions fumished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct. 14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. I have noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property or that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject property. 15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and information in this appraisal report are true and correct. 16. I stated In this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the assumptions and limiting conditions In this appraisal report. 17. I have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law. 18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application). 19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied on significant real properly 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. Res IM FOm 70 Math 2005 !m,aa ++w Au a,e,t eoo.zv.en? o'ew.wa.o.., Page sae F.Y We Ron syh Mad, rods , cot ro OHMS Uniform Residential Appraisal Report Fie No. 9022040 FEATURE I SUBJECT COMPARABLE SALE NO.4 COMPARABLE SALE NO.5 COMPARABLE SALE NO.6 18075 Outlook Court Address Mead 17600 Silver Fox Court Mead Rodmlty to Subject 0.57 MI SE Sale Price $ N/A s 489,900 s $ SaleRMGnm Wives $ 0.00 sqi s 184.87 sq.FL $ so. It. $ 0.00 sq.B. Data Sweets) County Records MLS#577684&565347 Vet swrm(el Inspection OLP$514.900 VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION N -is Muskier. DESCRIPTION NH1 $ AMm,wn DESCRIPTION re)S Masan Sale or Financing Concessions N/A DOM: 300 Listing -6% -29,500 Beteg(Sae/rme N/A OLD: 4/10/08 Lomtlm Margil Farma/Gd Maryii Fanns/Gd Leasehold/FeeSimple Fee Simple Fee Simple Site 1.26 Acres 1.13 Acres 0 View Fthls/Plains/Gd Fthls/Plains/Gd Design (style) 2 Story/Avg 2 Story/Avg Cleanly of Connection Good Good Atlas Age 8 Years New See Cond. coma Good Very Good -25,000 Move Grade Room Card ooeeuwo na30.00 i%IS Bile nH Bens Seas 0 TW BIm. aN Total ed Bate 9 4I 4 8 3 2.5 6,000 4 003 sq.e. 2 650 sot 40,500 sq.IL sq. e. Beeamnd A Finished Rooms Below Grade 1733 Sq.Ft. Unfinished 2020 Sq.Ft. Unfinished -3,000 0 Functional Ugh Average Average Hesting/C.ocill Central/Central Central/Central Enemy EMd,m leans Typical Typical Garage/Carport 3 Car Garage 3 Car Garage PsrwPendRde Porch,Patio,Deck Porh,Pario,Deck Net Adjustment (Taal) (1• W- s 11,000 M. I I. s 0 ®. 1 1- s 0 monad Sae Rim of Compaables went. -2.2% Gross A421.2% s 478,900 Nun 0.0% omsA4. 0.0% 1 0 Net Adj. 0.0% cmmsA4 0.0% s 0 ITEM SUBJECT COMPARABLE SALE NO.4 COMPARABLE SALE NO. 5 COMPARABLE SALE NO.6 Dm of Mar saertander 9/13/2005 No Prior Sales Prim of PriorSee/Taneler $474,000 In Last 12 Months Data swse(s) MLS/County Records MLS/County Records Effethe Doe Dr Data Sarce(sl March 6. 2009 March 6, 2009 Smmary& Saes emporium Approach See Additional Comments Emcee Mac Fwm 10 Mat KOS Nafmi Ssc0 ,, a19.n,Em vn w,em, FSN, Mw Farm l a Meth Uniform Residential Appraisal Report Re Na 9022040 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 appraisers (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/diets may be subject to certain laws and regulations. Further, ham also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me. 23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any mortgage finance transaction that involves any one or more of these parties. 24. If this appraisal report was transmitted as an "electronic record' containing my "electronic signature,' as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. 25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/or criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 1001, et seq., or similar state laws. SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that: 1. I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraisers 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 [jJ {/LESS — Signature Name Tod Bremner Name Company Name Bremner & Associates Company Name Company Address 3400 Table Mesa Drive, Suite 204 Company Address Boulder, CO 80305 Telephone Romper 303-494-1399 Telephone Number Email Address toddQbremneemtappppraisal.cam Email Address Date of Signature and Report March 8, 2009 Date of Signature Effective Date of Appraisal March 4, 2009 State Certification ft State Certification # CR40022485 or State License # or Other (describe) State # State CO Expiration Date of Certification or License 12/31/2010 ADDRESS OF PROPERTY APPRAISED 18075 Outlook Court Mead, CO 80542 APPRAISED VALUE OF SUBJECT PROPERTY $ 475,000 LENDER/CLIENT Name Sue Alpan Company Name Cherry Creek Mortgage Co Company Address 1844 Folsom Street Boulder CO 80302 Email Address or State License It State Expiration Date of Certification or License SUBJECT PROPERTY ❑ Did not inspect subject property ❑ Did inspect exterior of subject property from street Date of Inspection ❑ Did inspect interior and exterior of subject property Date of Inspection COMPARABLE SALES O Did not inspect exterior of comparable sales from street ❑ Did inspect exterior of comparable sales from street Date of Inspection F,pe. NU Fran ro Mirth ass Produced u+,e nu "'w646 1100.23,672723,1ww.anw�on Page Bremner & Associates Fe,a Mn Fon 1004 With 3006 1m4_osonea FLOORPLAN File No. 9022040 6.26.0' 7.0'( l Master Bedroom Laundry Recreation Room 17.5' co Master Bath b 14.2 e.2 Deck Z0 17.5' Nook 91 Living Room d Mud Rm co Garage C Bedroorr t co 1 LL Bedroom b 4.0' 4.0' Bedroom r io m Le u.. 01E• t' •c o •�° Den occ Foyer e 4.c' 8.0 6ew4.w Comments: 24.0' b b ro{ Second Floor 72 2.s 17.5' b 14.0' Walk -Out Unfinished Basement CV co 24.2 Its 4 Code AREA CALCULATIONS SUMMARY Description Sao 6MroSs Mal Mat Floor 1790.00 1790.00 OLIO Osrood Floor 3113.25 2213.25 BBNT Bas®tut 1733.00 1733.00 012 Garage 638.25 036.25 TOTAL LIVABLE (rounded) 4003 LIVING AREA BREAKDOWN enrwown aubtobs First Floor 14.0 x 32.0 448.00 2.0 x 12.0 14.00 3.0 x 6.0 18.00 0.5 a 3.0 x 3.0 4.50 0.5 a 3.0 x 3.0 4.50 25.0 x 31.0 775.00 10.0 x 24.0 240.00 11.5 a 24.0 276.00 Second Floor 3.0 z 6.0 18.00 3.0 a 6.0 18.00 1.0 a 12.0 24.00 3.0 x 6.0 16.00 0.5 x 3.0 x 3.0 4.50 0.5 x 3.0 x 3.0 4.50 5 unlisted eslculxtloos 2126.25 19 rtLFQatians Total (rounded) 4003 Bremner & Associates LOCATION MAP File No. 9022040 a IN 0 * o Et Site%: 1 c a Wagl ^. kit 6 al i a a :'-':;.-..:1`r County Road 38 Co p3 ~ unty L. Road 38 County 38 13 C a sr • A 'ei •� to o lY Z o 'V N. IO County Road 36 c a d Serat LL S�� °' 'S ��o' 413 o �ea WIIoW f MC o4. c/t«�4 ` s Ln oElderberry a 4) c m Vale View ' $T Q J J NI Z oad 36 C" ca,w: Pons s Dr N r • 0 C n x c c m 3 �,�este1nRSage" Gteat,,' ....,::...:. . rena •C1 lis M a w Weld Weld County H y Falcon Cu vi Eagle Av I a 1D 34 112 Jarett q r ,� Fairb nRi � 67 a County Road to f rY Basil Dr CS County rn Mm tPalmer A as r,r# Man n Pod 1 =aicb irn Dilingbarr Avel; Di l __ i .... County Road 34 r,,_; ,„ Courfl Aced P—+yNsa 87 c 1 o • r :. �,• Lake Dr l -- n Mddle Elementary School School n Q a �� N 'tel m $ C(3 -V County Road 32 Adam Egan Ct cams Stlo 1. yrr iotir l�� Ct 9 Whitetail Ct (Y"� 4,i m e L 'WP;.‘ Ave Coun y Ro d 32 ° County Road t'It tce Lily 04 G Dr O`c CC o amelot Cyr a c Ile tars Ridge Ridge (C)13+34-2008 tale Atian�+e "� 0 un �yfl,' W Sill:: 4.03 ml l es Prepared by Bremner & Associates 303.494-1399 Bremner & Associates SUBJECT PROPERTY PHOTO ADDENDUM File No. 9022040 FRONT VIEW OF SUBJECT PROPERTY REAR VIEW OF SUBJECT PROPERTY STREET SCENE Greenbelt/Foothills View From Rear of Subject COMPARABLE PROPERTY PHOTO ADDENDUM File No. 9022040 COMPARABLE SALE #1 230 Mulligan Lake Drive Mead COMPARABLE SALE #2 3126 Weld County Road 36 Mead COMPARABLE SALE #3 18063 Wagon Trail Road Mead COMPARABLE PROPERTY PHOTO ADDENDUM File No. 9022040 COMPARABLE SALE #4 17600 Silver Fox Court Mead t File No. 9022040 b .G 11 o ASSOCIATES Residential I Real Estate Appraisal 3400Table Meu Dyne. Sone 204 Boulder CO 80305 te 103 494 1399 • tut 303 494 1398 www.beemne'apprasssl can TODD BREMNER ACTIVE LICENSE: EXPERIENCE: EDUCAT ION: CERT ISSUI APPRAISER RESUME STATE OF COLORADO Department of Regulato.y Agencies Dinar of Real Estate nave Cert Residential Appraiser 40022485 Plumber I 'J:YJ G 62r4eLH J t.DCR CO eon swearAOu,.b u Jan 12009 issue Data nm!.T(D M1 SECuAt PA IJL •: Dec 31 2010 E.rin1 tars. sinipte. MORE THAN FIFTEEN YEARS RESIDENTIAL APPRAISING EXPERIENCE, INCLUDING SINGLE FAMILY RESIDENCES. 2-4 UNIT INCOME PROPERTIES. CONDOMINIUMS, TOWNHOUSES. MODERN LOFTS. VACANT LAND. COMPLEX PROPERTIES. MOUNTAIN PROPERTIES. AND MULTI -ACREAGE PROPERTIES. BREMNER & ASSOCIATES 1999 TO PRESENT OWNER/FEE APPRAISER BOULDER. CO TERRITORY: BOULDER. BROOMFIELD. ADAMS. JEFFERSON. DENVER. ARAPAHOE. WELD, LARIMER. AND DOUGLAS COUNTIES WORLD SAVINGS & LOAN RESIDENTIAL. STAFF APPRAISER SAN FRANCISCO. CA GREAT WESTERN BANK RESIDENTIAL STAFF APPRAISER OAKLAND. CA 1997 To 1999 1994 To 1997 PALADIN APPRAISAL S 1992 TO 1994 TRAINEE/PROCESSOR/RESIDENTIAL FEE APPRAISER BRISBANE. CA SAN FRANCISCO STATE UNIVERSITY BACHELOR OF SCIENCE INTERNATIONAL BUSINESS/FINANCE OREA APPROVED APPRAISAL COURSEWORK •RESIDENTIAL. APPRAISAL COMMERCIAL APPRAISAL JUSPAP -CONTINUING EDUCATION Bremner & Associates 0 M a ait it A ca a Ca Wilk COLORADO July 27, 2009 MASLOWSKI DANIEL J & 18075 OUTLOOK CT MEAD, CO 80542 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.: 106134002024 Account No.: R8129000 Dear Petitioner(s): The Weld County Board of Equalization has set a date of August 5, 2009, at or about the hour of 11:00 AM, 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. MASLOWSKI DANIEL J & - R8129000 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 L." --"\--/-31,4, Esther E. Gesick Deputy Clerk to the Board cc: Christopher Woodruff, Assessor Hello