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Home My WebLink About20032258.tiff RESOLUTION RE: THE BOARD OF EQUALIZATION, 2003, WELD COUNTY, COLORADO - DENY PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE PETITION OF: RUTLEDGE ANDREW D & ROXANNE L 2114 62ND AVENUE GREELEY, CO 80634 DESCRIPTION OF PROPERTY: ACCOUNT#: R0296095 PARCEL#: 095916107013 - GR 2AF-13 L13 ALLISON FARM 2ND FILING %2114 62 AV% 2114 62 AV GREELEY 80634 WHEREAS, the Board of County Commissioners of Weld County, Colorado, convened as the Board of Equalization for the purpose of adjusting, equalizing, raising or lowering the assessment and valuation of real and personal property within Weld County, fixed and made by the County Assessor for the year 2003, and WHEREAS, said petition has been heard before the County Assessor and due Notice of Determination thereon has been given to the taxpayer(s), and WHEREAS, the taxpayer(s) presented a petition of appeal of the County Assessor's valuation for the year 2003, claiming that the property described in such petition was assessed too high, as more specifically stated in said petition, and WHEREAS, said petitioner not being present or represented, and WHEREAS, the Board has made its findings on the evidence, testimony and remonstrances and is now fully informed. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, acting as the Weld County Board of Equalization, that the evidence presented at the hearing clearly supported the value placed upon the Petitioner's property, after review by the Weld 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 shall be, and hereby is, affirmed as follows: ACTUAL VALUE AS DETERMINED BY ASSESSOR Land $ 70,680 Improvements OR Personal Property 263,267 TOTAL $ 333,947 2003-2258 AS0055 l4; /IS/ K14 y� / RE: BOE - RUTLEDGE ANDREW D & ROXANNE L PAGE 2 BE IT FURTHER RESOLVED that 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 should be mailed or delivered within thirty (30) days of denial by the CBOE to: Board of Assessment Appeals 1313 Sherman Street, Room 315 Denver, CO 80203 Phone: 303-866-5880 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 CBOE of your intent. You and the CBOE 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. 2003-2258 AS0055 RE: BOE - RUTLEDGE ANDREW D & ROXANNE L PAGE 3 Arbitration Hearing Procedure: Arbitration hearings are held within sixty days from the date the arbitrator is selected. Both you and the CBOE 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 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 CBOE. 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. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 31st day of July, A.D., 2003. BOARD OF COUNTY COMMISSIONERS _�® //q�� W of J I TTY, COLORADO ATTEST: £4 /,D��/v C C`L, David E. Long, Chair Weld Co the Board ,� f�• JL,a EXCUSED Robert D. sden, Pro-Tem BY: . P •,�2 '�;� `L�'�-Lad B(4 . J. ails APP 7, _K�i . & : _ -11-7V• William H. Jerks/ / As stant C? my Attorney � ,�,� datiS Glenn Vaad Date of signature: A'-13-7-/2 7z 2003-2258 AS0055 1 NOTICE OF DENIAL OFFICE OF COUNTY ASSESSOR 1400 NORTH 17th AVE. ‘&ICet GR FILING 1%2114 62 3 L13 ALLISON 2114 62 FARM 2ND GELEY,CO 8631 PHONE(970)353 3845,DCT.3650 GREELEY 80634 Wli C. OWNER: RUTLEDGE ANDREW D & ROXANNE L COLORADO RUTLEDGE ANDREW D & ROXANNE L LOG 2706 2114 62ND AVENUE PARCEL 095916107013 ACCOUNT R0296095 GREELEY, CO 80634 YEAR 2003 The appraised value of property is based on the appropriate consideration of the approaches to value required by law. The Assessor has determined that your property should be included in the following category(ies): Residential property - The property is valued by the market aproach to value . If your concern is the amount of your property tax,local taxing authorities(county,city,fire protection,and other special districts)hold budget hearings in the fall. Please refer to your tax bill or ask your Assessor for a listing of these districts,and plan to attend these budget hearings. The Assessor has carefully studied all available information,giving particular attention to the specifics included on your protest.and has determined the valuation(s)assigned to your property. The reasons for this determination of value are: Your property has been uniformly valued following Colorado law and instructions published by the State Division of Property Taxation. Your protest of value has been denied due to comparison of other similar properties which sold during the 2001/2002 time period. This comparison shows your actual property value to be correct for that period. PETITIONER'S ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ESTIMATE • OF VALUE ACTUAL VALUE ACTUAL VALUE PR?OR TO REVIEW AFTER REVIEW RSIDENI5AL 333947 333947 TOTALS $ $ 333947 $333947 APPEAL DEADLINES: REAL PROPERTY-JULY 15,PERSONAL PROPERTY-JULY 21. 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. Please see the back of this form for detailed information on filing your appeal. 06/26/2003 By: Stanley F. Sessions WELD COUNTY ASSESSOR DATE t5-DPT-AR Form PR-207-87/03 ADDITIONAL INFORMATION ON REVERSE SIDE YOU HAVE THE RIGHT TO APPEAL THE ASSESSOR'S DECISION The County Board of Equalization will sit to hear appeals beginning July 1 and continuing through August 5 for real property(land and buildings) and personal property(furnishings, machinery, and equipment) 39-8-104 and 39-8- 107(2), C.R.S. APPEAL PROCEDURES: If you choose to appeal the Assessor's decision, mail or deliver one copy of this completed form to the County Board of Equalization. To preserve your right to appeal, your appeal must be POSTMARKED OR DELIVERED ON OR BEFORE JULY 15 FOR REAL PROPERTY, AND JULY 21 FOR PERSONAL PROPERTY. WELD COUNTY BOARD OF EQUALIZATION 915 10th Street, P.O. Box 758 Greeley, Colorado 80632 Telephone (970)356-4000 Ext. 4225 NOTIFICATION OF HEARING: You will be notified of the time and place set for the hearing of your appeal. COUNTY BOARD OF EQUALIZATIONS DETERMINATION: The County Board of Equalization must make a decision on your appeal and mail you a determination within five business days of that decision. The County Board must conclude its and render decisions by August 5. TAXPAYER RIGHTS FOR FURTHER APPEALS: If you are not satisfied with the County Board of Equalization's decision you must file within thirty days of the County Board of Equalization's written decision with ONE of the following: Board of Assessment Appeals (BAA): Contact the BAA at 1313 Sherman, Room 315, Denver, Colorado 80203, (303)866-5880. www.dola.colorado.eov/baa District Court: 9th Avenue and 9th Street, P.O. Box C Greeley, Colorado 80632 Telephone (970) 356-4000, Ext. 4520 Arbitration: WELD COUNTY BOARD OF EQUALIZATION 915 10th Street, P.O. Box 758 Greeley, Colorado 80632 Telephone (970) 356-4000, Ext. 4225 If you do not receive a determination from the County Board of Equalization, you must file an appeal with the Board of Assessment Appeals by September 11. TO PRESERVE YOUR APPEAL RIGHTS, YOU MUST PROVE YOU HAVE FILED A TIMELY APPEAL; THEREFORE, WE RECOMMEND ALL CORRESPONDENCE BE MAILED WITH PROOF OF MAILING. PETITION TO THE COUNTY BOARD OF EQUALIZATION In the space below,please explain why you disagree with the Assessor's valuation. IN ACCORDANCE WITH 39- 8-106(1.5), C.R.S., IF YOU APPEAL INVOLVES REAL PROPERTY, YOU MUST STATE YOUR OPINION OF VALUE IN TERMS OF A SPECIFIC DOLLAR AMOUNT. Attach additional documents as necessary. \-\\� c.A ccNf4 - � 'LO c\\\c-c-I\ucc- �� CSC cAi) 7ckcS. A �, S( AIUR OI {'L IlIOMER \. DA I/ Robison and Associates,LLC Real Estate Appraisals RUTLEDG1 File No.20020008 • • • Stacy Zeigler Advantage Bank 4731 West 10th Street,Ste B Greeley,CO 80634 File Number: 20020008 • • In accordance with your request, I have personally inspected and appraised the real property at: 2114 62nd Avenue Greeley,CO 80634-7903 The purpose of this appraisal is to estimate the market value of the subject property,as improved. The roperty rights appraised are the fee simple interest in the site and improvements. I / In my opinion, the estimated market value of the property as of March 12,2002 • is: • $315,000 Three Hundred Fifteen Thousand Dollars The attached report contains the description, aria ysis and supportive data for the conclusions, final estimate of value, descriptive photographs, limiting conditions and appropriate certifications. Toni Diane Robison • Robison and Associates,LLC • • • • • 1813 N.Taft Avenue,Loveland.Colorado 80538 970-663-9333 II • ' Robison and Associates,LLC y Real Estate Appraisals • • RUTLEDG1 • Fie No.20020008 ` I • • APPRAISAL OF • , , t t,,.,,,,,. , ,,,,,..1 ,-,..,1-1„:„.-, ....,• ... . ,..• ,,,,.. -4.14,7-41—t, ,,,..10...,- • '4, kit., ..opc 141 1 citti . . 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Advantage Bank • j 4731 West 10th Street,Ste B • I Greeley,CO 80634 BORROWER: • • Rutledge,Andrew 0&Roxanne L • s • AS OF: • March 12,2002 , • • r ,, d BY: Toni Diane Robson x: '' Robison and Associates,LLC ' t , i f.`.} 1 ' 1813 N.Tan Avenue,Loveland,Colorado 80538 970 RO.9333 . ,. . ..o-............... 4 7 TABLE OF CONTENTS " _ B rxr:N :Rutledge Andrew D d,f:oxanne_. _ ___ _ '__ _ _ -______- File N•z.:_ 0020001!_ t .,a-y Aca:esis":14e2ntAvenJa_ ---___.- '_.._ ....._.._._ _._ --..aSeNt)_nUjl l E`'^ _______ City_Grzlny--- — -.._. - - - _ - _State:Co __... - - - - Zip:_3:?631.73J3- e r Lender:Advantage Sank • I '` . Ai_ . , .... 11 k • •i u p Sr ; ...�. + „ + ar tom.'y - 4 UL II " I. ; W .itt `+q to 6 a 1.:tt „•a••, A1. r it. .air �S �' ♦ -:. _.t'�*• '14. if q' �ik.. K '„or .i . -,, :-,14 i:it:„45..-:4.,,ital'i i,:.: it : ... .- ...-4.-"taft ... ii.► _.rte fil rFix i Invo,ce. ... .. . .. • .. 1 Letter of Transmittal. .. . ... . .... .. .. . . . .. . . 3 Tar.h.3 cf Contents 1 GU;. ... ..... .... i Ao•lendum . . . L oc..tron Map . . . . . . .t :ixtra t..lap Pa;e 1. ... . . . . .. - 31c,:t:;5 . 3 :'IaI Map . . .... . . . . . • 3 iue;e Ptotcs . .... . . .. i C. _ ..inpi,•?Concitrons... . . .. .. . . . ! • La if:cations . . . .. . . ... . . . . . . . . . 'cx'.:a :nage Paget.. ... . .. . . .. . ::! O.r-oosior List. .... • 181. N.Taft Aver•ue. ove+:and•Colorado 805:'8 b70-6€3.9313 I III • • A Complete Analysis Summary Appraisal Report RUTLEDG1 Pro•arty Description UNIFORM RESIDENTIAL APPRAISAL REPORT File No. 20020008 ProeertyAddress 2114 62nd Avenue Cily Greeley State CO It Cede 80634-7903 Legal Desubtion See Attached Addendum County Weld Assessor's Parcel No.095916107013;Acct#R0296095;Rcptn#25329o2 ?as Y:3' 2001 R.E.Taxes;2,627.42 S Assessments& None _! I Borrower Rutleckke,Andrew D&Roxanne L Current Owner Rutledge,.Andrew D&Roxanne L Occupant: [X]Owner Tenant 71 vgega i „ Property rights opwaieed (Xi Fee Simple I I Leasehold_f —Project Type E• F UU 1_1 Condominium1HUONA only) HOA$ _29.16 LMa. : Neighborhood or Proied Namre Allison Farm 2nd Filing Map ttefenrxs 97 KM 45 Census Trad 14 01 _ __ Sale Prize$Refinance Date of Sole Refinance Owen'I�Gn and f amount ofloa chargesrmncasaions to be pad try eater None. _ ___•__ Lender/Client Advantage Bank Address 4731 West 1Cth Street,Ste B, Greeley,CO 80634 Appraiser Toni Diane Robison Address Robison&Associates,LLC 1813 N.Taft Ave.. Loveland Colorado 80538 I Locution X Urlan Suburban Rural Predominant i Single family housing Resent land use% Land use change BuBu Over X ZS 7576 Undw25% occupancy 'PRICE AGE Onafaml 50% �Nolliel El Lke P 'spot (in) Y — Y Y I Growth rate Rapti Stable Slow [ Owner _1 87 Low _—__1 2-4 family _._8% X In promo Property values X]Increasing Stabile Dediining (enact ! 1 coo_Hgh 24 MuNtarriy �4% To:Vacant ro _._____ Demerdhupply Shortage Ionian Overeat* [ Vaari(D5%) Predominant ' Cormtorwl _1096 Residential_aric_____ Mark tneLirr. 3n* X 3-naps. Oyer 6mos. [ ranrr�A.Gt11_L—314 [ 5•Vacant 28% suuportin use:_ Note:Race and the racial composition of the neighborhood we not appraisal factors. J j Neighborhood boundaries and characteristics: The SUbjeCt boundaries include: West 20th Street to the North ! hway 34 llltPass tott e South'59th Avenue to the East:and 83rd Avenue to the West. = Factors that ailed the marketability of the properties in the neighborhood(poxinity to employment and amenities,employment stability,appeal to'narks!.etc.): The subject market area is located within an incagorated area and within the city limits of Greeley Colorado,known by the Mul ir11e___ i Listing_Sennce(ML,as Area 10 and MLS Sub/Area 12. This is an outtying_suburban commun y_of mostly new/newer construction _ w The subject is not within a gated or monitored subdivision. An HOA is in[daps,designed to enhance_values by protective covenaritsy_ restrictions and conditions. Homes in the area are generulYweit rnainta•ned and are conforming of style,doss ri and construction__ materials.See Attached Addendum... ___�___,•.—____ _ ___ Market conditions in the subject neighborhood(including support for the above conclusions related to the trend of property values.demandlsuppty,and rnarkelii g tin- --such as data on competine properties for sate in the neighborhood,description of the prevalence of sales and financing concessions,etc.): See Attached Addendum • Project Information for PUO,(If applicable)•-Is the developer/bolder in control of the Home Owners'Association(H0A)7 U YES (Z,I NO Approomde total number of units in the subject project apprx.60 Approximate total number of unite for sale in the subject project approx 5 Describe common elements and recreational Noddies:Lendscaoe,landscaping sprinklers and irrigation,and fencing. Dimensions 1100'FF X 130'approximate _� Topography Grd LeveL Abv.RoadWIy__ Site area 14,300 Sq Ft.L328 Ac) __ _ Corner Ld T1 Yes 0-No see Above Average__—____ Specific zoning classification and description PUD-Residential _ , Shape Rectangeler Flegilar___ tt- Zoningcomplianae OX Legal Legal nonconforming(Grandlthereduse) ETttegal t__.No zoning Drainage AppearsA.eqaate_____ Highest&hest usaasemroved: X Present use Other use(asjrlein)_ ___________•___ _ View r e__ _____.______ Utilities Public Other Off-site Improvements Type Public Private Ladscaetig Typical____________ Electricity Xcel Street 2-LaneAsPh31t____ Driveway Surfs,* Concrete_ ______ Gas Greeley Gas _ Cablgulter Swaleb/Culverts____ Apparent easements lygcal Util t __ __ Water [ City of Greeley Sidewalk None-T icel ,._____ FEMA Special Rood Hazard Area Li yes ®No Sanitary sewer City of Greece Street lights Pole-Typical _ X) FE Zone C Map Date 09!23/19 32_ Storm sewer X City of Greeley None-Typical IT FEIAA Map No. 030266 0617C ___ Comments(apparent adverse easements,encroachments,special assessments,slide areas,illegal or legal ncnconfomrkig zoning,use.etc.): See A.ttaohea __ Addendum — ---- —------ ------ --- GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION No.of arils 1 Foundation Poured Goner Slab Yes 100% Area Sq.Ft. 1163 i Roof U/ ___r] No.of Stories 2 _ Exterior Wails Frm/Brk/Wd o;rwiSrace None Noted %Finished 75 _' Celina U%_—_[ ] Typo(Del./Att.) DET Roof Surface Comp Shingle Beaumont Full _ Celing Joist Finshd ! Wale U/ __ iX] Dagn(Style) 2-Story Gutters 6Dwnapts. Pnid MtlNts Sump Pun pPulig. Pit __ Walls Masonr1--1 Floor Ul__^� Existing/Proposed Existing _ Window Type 2 Pn Vinyl _ Dampness None Noted Floor Concrete Nona ____ Age(Yrs) 1996/6 Storm/Screens None/Yes Settlement NoneUoted OAsde Entry None I u'n _ EBedire Age(Yrs.) 2 Manufactured House No Infestation None Noted 'Assumed to Code • ROOMS__. Foyer Living Dining XA^hen Den_—_Farnly Res Res Rm Bede'. ' e:anis Lakin• Other •_A-ea S I.FL_- Banners _._•_ 1 ._..----- —1 1 2 -----1,18= Leve t Area 1 1 1 5 Area ___1_ 1,237 • Lave 2 —�_ —�_,.— - — — 4 _ -- ---- ___--___.___x_2 1 _ Flashed area above grade contain: 8 Rooms;-_—�4 Bedicon{s); 2 5 Botfr(s): _—_. 2,449 •are Feat of•3_o-s t w cap Aes_ INTERIOR MaterieladCondtion HEATING AITCHEN EQUIP. Aruc AMENITIES CAR STOItAGE Floors Wd/Cret/TINyl/A_yg_ Type FHA Refrigerator (!j None [-] Fireplace(s)I/1 More [_] Walk Crywatl/Avg Fuel Nall Gas Rangs/Oven (X] Sian Patio Open Rear_ X Garage dofcar. Trin(Finish Wd/PtndWd/Avg+ CordtianWorkimq_ Disposal [X'i Crop Star Deck __ Atadied 3TT_ Bath Floor' Wd/TileNinyl/Avg COOLING D•nhwuther [X'ee 2.14 X Porch Cov'd Front X Detached BathWanscol Fibergiass/Tile/Avg Central Yes_ Faruhoud (X Flea �� Fence WdPrcyM'd Serer ____ Doors 6-Panel HCIAvg+ Other Humidifer Microwave P i Heeled Fool _____---_ Carport —__ CondionWVorkinq Warher:Drnc (P,I Fniihed Drivewa _Z-Con<:t _ Addlanai featu.7e(special energy efficient items,etc.): See Attached Addendum Condition of the improsemenls,depreciation(physical,functional,and external),repasts needed,quality of construction remodeling/additions,etc.: See Attached _ Addendum.,_ Adverse environmental conditions(such as.but not limited to,hazardous waster,toxic substances,etc.)present in the improvements,on II•e she.or in NIa immediate vicinity of the subject property: Inspection of the subloct propert�by Observed Mnnod revealed no areas of enyironmentel concern. See Attached Addendum _ ese.*e,.ru IF SO PACE 1OF2 rerwi..i:.ulae a.r Presume amp Psi..suer Nil*., ..sus jar rrzr...faro...eon. I I!I • - • • A Complete Analysis Summary Appraisal Report RUTLEDG1 Valuation Section UNIFORM RESIDENTIAL APPRAISAL REPORT Fife No. 20020008 ESTIMATED SITE VALUE _$ 80.000 Comments on Cost Approach(such as,source of cost estimate, - ESTIMATED REPRODUCTION COST-MEW OF IMPROVEMENTS: she value,square foot calculation and for HUD,VA and FmHA,the Netting 2.449 Sq.Ft. 0$ 58.00 =$ 142_,C1?, estimated remaining economic life of the property): v Bsmt. 1163 Sq.Ft. 0$_ 34.00 = 39 547 Marshall&Swift Residential Cost Handbook was used to e • F/P Patio.Porch - .__ 19 OOG supptt materials and labor cost estimations. The Economic__ Garner-wadi 597 Sq.Ft. 0 Si 30.00 = _ 17 910 Age Life Method was based on 55 years. Land values Aare _ Total Estimated Cos New =$_ 211_4 9� extracted and/or abstracted at values typical of the£c Cj,iS t__ Lela Physical Functional External Est.Rerr.initg Econ.Lire: 53 market area, normally 25-40%,unless otherwise r.otrtl_______ u Deprs®tan 3% _S &525 A j t vents were calculated based on cost,contrbution_ Depreciated Value of Improvements =$ — 210 999 market reaction,trends,and the perception of the •Aa-ie•Vakis of Site Improvements •S 24 000 contribution of the improvements. INDICATED VALUE BY COST APPROACH s$ 315,000 • 1701 J SUBJECT COMPARABLE NOW1 --__ COMPARABLE NO.2 COMPARABLE NO 3 2114 62nd Avenue 2119 62nd Avenue 6209 W 21st Street 2319 45th Avenue Address Greeley Greeley.CO 806_4— _ Greeley_CO.80634_ _ Greeley,CO.80634___ -I ProseretytoSutjed It ' : ,---it..; I'.'ft0.07 MI W 0.08 MI NNE __1 6 MI E Sales Price $ Refinance fxi•S. i.Ii.. $-- 354,000 ' 'T' " $ 300,000 t s t:.,!-.t,t L S3151000 Frioa0ms Lw.Area $ 128.82 W $ 149.24 a':'• j'• $ 111.40 PI a f, 1.'1. %' ' $ 110.18 rA'° y ' ' Data and/or Inspectn,MetroS 5ALS#245351,MetroScan,LA Off MLS#307218,MetroScan,Agent MLS# ,MetroScan,Agent Verification Saxon PublicRcord,MLS P_ublicRec°rd,Ext Inspection Public Record Ext.Inspection Public Record,Ext. Inaaxiion VALIEANlKThENTS DESCRIPTION DESCRIPTION i.r•tsM-01m•„— DESCR1P1t0 -,,(4s.qubran DESCRIPTION . 1w,vsnye_ Sales o Feandng—TNone s ;tr.' ), CASH DOM 259 Comt'I DOM 180 I Ccnvt'I DOM 91 Conwasiorn "_:, 4 t' '4 0 seller Pd Pts 0 Seller Pd Pts 0 Seller Pd tats I Date of Satefiune Refinance % 'II 09/06/2001 COE 11/21/2001 COE I —7 01/17/2002 COE _ ' touter' Suburban,Good Suburban,Good_ _,_,Suburban Avg t 10.000 Suburban.Avg — 10 000 LauodrilfeeSirste Fee Simple Fee Sim le —__ Fee Simple _,,__ Fee Simple See 14300 SgFU.32A 14200 Sq. Ft 11002 3 Ft _11,185 Sq Ft. ___ Vinw Res Average Res.AverageL__— OpenS ce/A�_i —__Res,Average _________ Design a nd Appeal 2-Story 2-Stem _ 12-Storms __. 2 motor]_•—_T_._—_-_.____ OwityoCusaudin Frm/Brick/Avq Brk/Stucco/Good ~_ _15 000 Frrn!BlieKrAvo_I_ ,Fist/Brk/Stu`Goo d _ L15,000 Ali---- 1996 6A/2E 2000-2/4/2E L_ 199E 4A/2E �- --- 1989-13AlSE —__1500 v_1 Candd'an Good Good r`__,------_ G-°-,� Good --- ----_—_ Above Gra,1e T.AI i Barre I Baer l;y' ae,m I ores _ .T fWas a-_awls Tqw:I TAI: ens Room Count 2� 8: 4I 2.50, 8i 4: 2.50 X10_ 4`2 10: 4I 2.50 GrossLi.igArea 2,449 Sq.Fl. 2,372 Sq.Ft. 2 693 Sq.Ft. ! -6,100 2,859 Sq.Ft _-10300: • Baserreee3Frished 1183 Sq.Ft.80% 1838 Sq.Ft.90% -5,678'1300 Sq Ft.51% -1,716 1180 Sq.Ft.73% Rooms Below Grade 872 SF Fin.1-Ba 1472 SFFin. 1-Ba,-__4 8001672 SF Fin None 1 850 861SF Fin 1_Ba _ a Functional Utiily Average Similar __Tirnilar __ Similar _ Hilo eetCooting Gas FHA C/Air Gas FHA C/Air •Gas FHA C/Air Gas FHA C'Air —^____ u "Enemy Berra Skylt,CFan,Humd Obl Pane —�2 0001 Dbl Pane 2.000 Dbl Pane,HsFan Garag_eiCarport 3 Att.Garage 3 Garage Att T Garage Att _2 Garage Att 4 000 Porch.Pato,Deck, Porch,Patio Cov'dEntr//Deck I WdDeck,Patio Cov'dEntry,Deck Freplace ),etc. i 1 Fireplace •One Fireplace One Fireplace —_One Fireplace .1___ Fence Pod,etc. Fence Retainer Wall Partial Fence Nat'l vegetation_—_- Int/EXtUpgrade Good Similar Similar _ — Superior __ 4,500 Net Adj.Iota) # s -t :i s f• (Xi- ;$ 23476 X + ___,$ _ 6,034 T .—�X�TS _--8 300; Adiseled Safes Prig t i as 4` S Gross:7,8%4 Gross:7.2%. 3 Gress 18.3% atCarrpxsae . "-Net: '-8.6% $ 330,524 Net: 2.0% 3$ 306,034 Net:"-2.8% •" $ __306_,700 Comments on Sales Comparison(including the subject property's cumpatibtdy to the neighbxhood,etc.); See Attached Addendum _ ;TEM SUBJECT CO NO.1 —_— _ CO PPARALILLE NO 2 --__ COMPAR B_LE NO.:1 — --0-ate,Pros and Data 08/08/2000 — 03/15/1899 09/07/1985 ---- • Sourcer pr ior prsees Not Sold During Rcptn#2785824 Rcptn#2680414 1 Rcptn#2191358 weir • The Past 12 Mos. $344,800 $270,000 I$185,000 Analysis of any anent agreement of sale,option.or listing of the subject property and analysis deny pia salve of eibjed and converges whin one yogi d the date d appain t See Attached Addendum —_-- — ----_._---__.___._ INDICATED VALUE BY SALES COMPARISON APPROACH S _ __315 000_ INDICATED VALUE 8Y INCOME APPROACH Estinstud Market Rent$ N/A Mo.sGrcgsRerd:Alitifar N/A =$ _hFP, Thu appraisal in made X as(s• eulljed to the repan aluatiorc,i.padiana or acrdlions;Mud below ❑skied la wmpbtice per plans and Ipse'diru. Condtia.dAppraisal: See Atteched Addendum FeatFalai Reocndislan:See Attached Addendum ▪ The purpose of this appraisal is to estimate the market value of the real properly gal is the subject of this report,based on the above conditions and the cetiiwtion,oaen)ent and limiting conditions,end market value derision that as elated r the&facie s Freddie Mac Form 4391Fannie Mae Farm 10048(Revked 8/93 ). IONE)ESTIMATETHEMARKETVALUE,ASDEFINED,OFTHEREALPROPERTYTHATISTHESUBJECTOFTIISREPORT,ASOF 03/12/2002_______— • (WHICH IS THE DATE OF I THE EFFECTIVE DATE OF THIS REPORT)TO t3E$ 315,000 . APPRAI- • SUPERVISORY APPRAISER(ONLY IF REQUIRED): .ao.� .�'7 I ' / -1 Ski_re- ----� �.T�_ =$nature-- - -- ❑Cid 2DdNot Name Toni Diane Robison wanes Insaecl Properly Gate Revd Signed 03/13/2002 --- grata RcEzel Snod _ __ __--. — State Certification f CR40020392 State CO— Std Cdrt.ficaticn f _—_— Stat+_--_ Or State License/ _ St dr Or Slate Liam:e ll Statu cnQ'i Luc F)m fit o-w PAGE2OF2 fang 11..a'am vox is. AO11.$a.'Still[1,161 Wixom 1.n.rd01].r12T....”...p...... Robison&Associates • 1 III .._-- • - ADDENDUM _ Borrower: Rutledge,Andrew D d Roxanne L File No.: 20020009 Property Address: 211462n4 Avenue One No.: RUTLED31 City: Greeley Elite: CO Zip: 60634-7903 Lender. Advantage Bank Legal Description GR 2AF-13 L13 ALLISON FARM 2ND FILING%2114 02 AV%SITUS:2114 62 AV GREELEY 80634 Neighborhood Market Factors • All the amenities necessary for stable resale values are present,including: employment opportunity,retail,medical services,fire and police protections,public transportation,public end higher education,recreation,parks,and banking. Employment centers are considered to bee reasonable commute. The subjects market area is a blend of gated and non-gated newer construction housing developments.Buyer reaction and demand for this area is strong and Is expected to continue into the foreseeable future,based,In part,on strong local and regional planned growth and revitalization efforts. Greeley Colorado,with approximately 72,000 residents,la a pro-growth community about one(1)hour north of the Denver li metro area. Greeley has a Single Family Home Sale Price Index of 100,which is equal to the national average of 100. The percentage of homes owner occupied in Greeley is 50.93%,a figure lees than the national average of 64.61%. The Cost of Living Index for Greeley is 91,(lees than the national Cost of Living index of 100). The Median Age in Greeley is 29.90 years.The subject filing is newer than average housing stock The Average Greeley Household Income,per the 2000 Census,was 546,474. The Culture Index for Greeley is 123,well above the national average Culture Index of 87. The rate of Inflation for Denver/Boulder/Greeley is 2.85%,par UNC Department of Economics,and is well below the national rate of 3.26%. Neighborhood Market Conditions • Most residential homes are sold with the assistance of reactors. Seller paid points and carry-backs are not typical. Sales end finance concessions are not typical. Buyers and sellers normally share closing costs. Appliances normally transfer. Interest rates and unemployment rates are relatively low with slow upward pressure. Market supply and demand are currently considered to be In balance. Residential housing values are stable and sales volume is strong within the subjects market place. Absorption rates also remain strong,In spite of recent increased available residential housing Inventory. Normal marketing exposure has increased slightly during recent months. Marked appreciation of property values during the past several years and record-breaking regional growth are mitigating factors within the subject's market place. Analysis further indicates that nationwide real estate housing contraction is present within the subjects market place. This trend,a light softening of residential real estate,is likely to be in effect through a portion of fiscal 2002. During the paste months,in Area 10 end Sub-Area 12,there have been 20 sales. The indicated absorption rate is 3.33 units per month. The current listings(25)represent an approximate 7.5 month supply of available housing stock. There are currently 14 pending sales in the subject market place. • • Site Comments Utilities are underground. Typical utility easements are assumed. No adverse easements,encroachments,slide areas,or illegal or nonconforming zoning were noted. The minimum lot size Is 6000 square feet. The subject situs satisfies this requirement. No on/off street parking is permitted. The subject has adequate parking. No external obsolescence was noted.. The subject has eastwest exposure,faces west,and has secondary interior positioning. The subject is located on a cul-de-sac where road noise is considered minimal. Tie subject's improvements include:a single-family detached frame/brick/wood product 2-story dwelling with composition shingle roofing on gable and hip roof cuts. Swales and culverts are widely used in the subject market area. The subject has wood fencing and professional landscape. The three-car garage is attached. There are no accessory buildings. The subject has been graded to level,slightly above the roadway elevation. There is a gentle positive slope to the south. The lot backs to residential development and provides a residential view(average within its market area). Additional Features Additional special features of the subject Include:Landscape sprinkler(F/R),garage opener(1),ceiling fan(1),a skylight,a partially finished basement,a laundry tub,a laundry shoot,maple cabinetry throughout,10'4"ceilings,and extensive use of hardwood flooring. The full basement has a full bath.There is a main floor 1/2 bath. The master suite has a 5-piece master bath with walk-in closet. An additional play nook was expanded in one bedroom. Banisters are stained oak. Some wood trim is stained oak and some is painted. The kitchen has upgraded cabinets,a work space,and an island. The home makes good use of recessed lighting,exterior security lighting,and fixed windows. The basement windows are garden light style. The study in the basement is not presently considered a bedroom. The open floor plan allows for flex space. • • ,pyraser: _ Raison)Appraiser: Mama: Toni Diane Roblson Name: _ addend^n Page 1e(4 ADDENDUM Boncwer: Rutledge,Andrea/DS Roxanne L File No.: 20020008 Praty Address: 2114 62nd Avenue Cease No.: RUTLEDGI Ciry: Greeley State: CO Zip: 80634-7903 Lender: Advantage Sank Condition of Improvements Physical depreciation caused by normal wear and tear is minimal. No functional or'national problems were noted at the time of the inspection. No functional obsolescence was noted. Some mechanical systems were partially concealed. Average condition for the subject's market area is newer housing stock generally well maintained. Average Condition entails original materials of average quality,quality workmanship,and normal wear and tear only. No survey,soils reports,home inspection report,deed,or title documentation were provided for review. The CCBR's were reviewed. Adverse Environmental Conditions The appraiser is not an expert and is not qualified to Identify all such issues. Please refer to the report attachments. A TRIS facility query indicated one(1)EPA regulated facility,which was not within 0.5 miles of the subject sites. A CERCLIS facility(Consolidated fadlity information of multiple EPA Systems)search Identified zero(0)EPA-regulated facilities within the subject's rip coded area. Further,a subject specific county EPA Superfund query indicated one(1) superfund issue,found not to be within 0.5 miles of the subject. Comments on Sales Comparison The comparables were selected based on date of transfer,proximity to the subject,location,living area,age,condition, construction materials,utility,style,view,features,positioning,exposure,end lot size. All comparables were verified to be closed sales. All of the sales comparables are two-story single family detached homes. The sales comparables used were considered to be the best comparable sales available. Pg of the sales comparables have secondary interior positioning. None of the sales comparables are within a gated subdivision. None of the sales comparables have corner location. Adjustments: Adjustments(some lump-sum)were made based on cost,contribution,market reaction to the improvement,and/or judgement. Homes of this clan and style in the subject's area of analysis are currently appreciating ate decreasing rate. No Time of Sale adjustment was required,based on normal marketing exposure,land valuation analysis,resale data and other statistics,and market trending analysis. Gross Living Area(GLA)was estimated for above grade living area at$25 per square foot,when the variance exceeded 100 square feet. easement Area was estimated at$12 per square foot,when the variance exceeded 100 square feet. Finished Basement Area was estimated at$8 per square foot,when the variance exceeded 100 square feet. Based on the market reaction within the subject's market area,adjustments,if required,for variances in Room Count and Floor Plan may be included within the square footage adjustment,unless otherwise noted. Some amenities,ones which have no material effect on value(ones which lack economic Impact)or ones that have no accurate and measurable market reaction,may have no attributed value on the sales comparison grid. Some adjustment estimates were extracted from an expanded market area. The adjustment for the subjects Upgrades(interior,exterior,or both),if required,was handled as lump-sum. Slight differences in construction age,building materials,view,and lot size normally do not require an adjustment in the subject's area of analysis,at this time. These and other differences,ones which currently do not require an adjustment, may require an adjustment in the future,based on changes in the subject-specific residential market place. Sales Comparable#1 has similar size and style as that of the subject. Sales Comparable#1 is known as Lot 17 of the same filing as the subject and it located on the same cul-de-sac as the subject. Construction materials are slightly superior to those of the subject.No adjustment was required for construction age. Sales Comparable#1 has immediate proximity and a similar view as the subject. This home has a main floor master bedroom and a mostly finished basement. Upgrades,utility,and garage facility are also similar to the subject. Upgrades for Sales Comparable#1 include: a loft,a bay window,vaulted ceilings,stain/natural trim,walk-in closet,5-piece master bath,and wood flooring. Adjustments were required for market attitude towards construction materials,basement area,basement finished area,end interior energy filatures. The home previously sold(08/04/2000)in the amount of$344,800 after 219 DOM.Information was confirmed 03/13/2002 by a sales agent,Wayne,of the Listing Agent's office. The listing agent was not the selling agent No finance or sales concessions were noted or known. No adjustment to discount a cash payment was made. Sales Comparable#2 is a brick/stucco/frame two-story home located just north of the subject. Although this comparable is net located on a cul-de-sac,it backs to an open space that adjoins to non-residential development. Sales Comparable#2 has wood flooring,a security system,lawn sprinklers,5-piece master suite with a walk-in closet,stain/natural him, and a partially finished basement The basement hes a recreation room. Adjustments were required for lack of plumbing fixtures in the basement, basement area,and finished basement area,gross living area(GLA),and lot location. No adjustment was required for view or lot size. This home was previously listed 01/17/2001 (126 DOM/MLS#247256)in the amount of $339,900. The List Price was reduced after 78 days to$329,900. The property was withdrawn 05/23,2001. Prior to this sale,this home transferred 03/15/1999 in the amount of$270,000. Sales Comparable#2 is known as lot 80 and is located in the same filing as the subject. This home was re-listed 05/24/2001(MLS#307218)with a list price of$329,000. After 27 DOM the price was reduced to$324,900. A further price[eduction was made on 08222001 to$313,500. Appraiser Supervlsory Appraiser: Name: Toni Diane Robison _ Name: Addendum Page 2 d4 1 s II' ..'. ADDENDUM ___ Borrower. Rutledge,Andrew DS Roxanne L File No.: 20020006 Pr9y Address: 211462nd Avenue Case No.: RUTLEDG1_CS : Greeley State: CO Zip: 80634-7903 Lender: Advantage Bank Sales Comparable#3 is a frame/brick/stucco two-story home not in the subjects filing. It Is considered to be a competitive distant property. Utility,style,view,and lot size are similar to that of the subject. Sales Comparable#3 Is located on a '.. cul-de-sac. It has a larger GLA than the subject and is slighter older. Adjustments ware required for location, construction materials,age,living area,garage area,and interior upgrades. Interior upgrades for this sales comparable include: landscape sprinklers,a mostly finished basement, basement bedroom(1)and basement recreation room,whole house fan, 5-piece master suite,central vacuum,intercom,set-back furnace svritch,water filter,wood windows,stained/natural tr.m, bay window,and formal dining. This property sold with normal market exposure without concessions and with normal reduction from list to purchase price. The List Price(not reduced)was$319,900. A fourth property pending close of escrow(estimated for 04/30/2002)is MLS#329603. This 1.5-story brick/stone contemporary home with 2715 sq.ft GLA was listed in November of 2001. Days to Market(DTO)is 115. An agent,Wayne, from the Lister's office suggested that the final sales price was'very very very close to list'price. No concessions were reported. This home has four bedrooms,a three-car garage,two fireplaces,intercom,2 or more water heaters,lawn sprinklers,a patio,central air conditioning,vaulted ceilings,walk-in closet,a 5-piece master suite,wood flooring,and a full unfinished basement. The MLS Data Input indicates superior bathroom fixtures. Lot size is similar. Listed properties further support the value estimate of the subject. Analysis of Current Agreement The subject has not sold during the past 12 months.The subject Is not currently marketed on the MLS system. No signagu indicating marketing was present. The subject has no record of transfer during the past 12 months,no listing during the past 6 months,and no known contract to purchase for review. Conditions of Appraisal There are no indicated tax priors,no special assessments,no tax appeals,and no delinquent taxes for the subject. The subjects annual taxes were verified with the County Treasurer's Office. The subject's Land Assessed Value(2001)is reported to be$62,000 and the Improvements Assessed Value is$245,319. The Actual Total Assessed Value of the subject is$307,319. The Total Assessed Value is$26,120. The Mill Levy is 93.436 and the Assessment Rate is 9.25%. The last date of transfer of the subject was 02/05197;$245,000; Reception Number 2532962. The prospective borrowers are the current owners. The owners occupy the subject. Zoning was verified with Greg,at the Planning and Zoning Department of Weld County. There are no reported home insurance claims made against the subject property during the pest 12 months,per the owner. The interior and exterior of subject were inspected.The comparable sales were inspected from the exterior only,at ground level. Externalities were not noted. No factors were noted that adversely effect salability of the subject in the current resale market Inspection of the subject was not preformed to the same standards or for the same purposes as inspections used for building inspections,pest inspections,or home inspections,but rather,for general building materials and construction purposes. The scuttle(master suite closet)was not opened. No attic or crawl area,if noted,was entered during the inspection. Some mechanical systems(i.e.,ventilation,insulation, plumbing,electrical,and foundation)were partially concealed. Visible areas indicate they are adequate.If any mechanical systems were fully concealed within the subject,they are assumed to be present,adequate,and functional. The subject has copper plumbing. The appraiser reserves the right to revise the estimate of valuation should any factor or issue or condition become known to the appraiser. The subject is appraised as if unaffected by any potential of any environmental issue. The appraiser is not responsible for any changes made to the appraisal report post-delivery or any significant charges in the market place post transmission. The subject is considered conforming. The adjustment for physical depreciation in the Cost Approach to Value is for effective age. This appraisal report estimates the market value of the subject property"As-Is."The report,which estimates a current value,is conditioned by the effective date of the appraisal based on conditions observed upon inspection and as it physically and legally exists without hypothetical conditions,assumptions,or qualifications. This"As-is"premise assumes that the condition of the subject is in precisely the condition or status it actually was(is)In on the effective date of value. The perspective value is"current'. Further documentation is retained within the appraiser's workfile. Appraiser Supervisory Appraiser Name: Tcni Diane Robison Name: Addendum Page 3 014 • _.. I. 11 .. ADDENDUM _ • Borrower Rutledge.Andrew D 8 Rosanna L File No.: 20020008 Property Address: 211462nd Avenue Case No.: FUTLEDO1 C Greeley Slate: CO 2ip_80634]903 Lender: Advantage Bank Final Reconciliation Not all data was available for each comparable property. The Sales Comparison Approach to Value is found to best reflect the tendencies, reactions,and demands of the participants in the market place,and,is therefore,given the most consideration. The Income Approach to Value is not applicable,as the typical purchaser is not normally motivated by income potential. There is a lack of reliable rental data. The Cost Approach to Value is given consideration based on the subject's age. Consideration was given all comparables with uneven weighted measure. Most consideration was given to Sales Comparable#1 and Sales Comparable#2,due to gross adjustments, proximity,and location. The estimate of value for the subject is$315,000,which translates to$128.62 per square foot(GLA). This value estimate falls within the unadjusted square footage sales range of the sales comparables. The estimate of value for the subject also falls both within the adjusted and the unadjusted sales price range of the sales comparables. • Appraisert_—_— Su�erv_Ir>ry Appraiser' Name: Toni Diane Robison Name ` Addendum Page 4 or 4 I III . T 1. 11.1 . __.. ... • • a LOCATION MAP . 6orrov,er:Rutledge,Andrew D&Roxanne L File No._. _: 20020008 Property Address:2114 62nd Avenue _ Caso No.:RIJTLEDGI City_Greeley _ State:CO Zip:80634-7903 Lender:Advantage Bank --,,,,....!..13._.1._-1-- 8TH i i e 6T C÷ 1'0 Er ? rr! 9;H : to TN ` 44 2THt- ry 1( i 01M 1 91a/ 8T —I 1,•.- 'c c ` �' s--ira }—^ I� ('.4 8TH c ;ifM' _ STH 0tH Al H 'T row _ ? o� "_ / 0TH II H ,,r� ..BRIER 4 \ 5. 'd O 11H 'S a"'a i "' 21 — 1 ^• H 2N0 \ Ilih a 13T o V 4 is II 2 C J i1. 4TNi . 14TH 1� a '.v- 57 ^ 1' �'A , IB 4 s2� H �J, i.i IN ? li:Tll l,1 I y 18TH 1 1. H iLit i 1il 1 I !1 -- - ---d ____ 20TH 20TH �L u bT1 © I 1 x so1H _ . >,7I <core2 .-__�i x -. ~21 T ,„, ASRNaT rsl-z ,� T ~ T 21: 21�r S4a71�bJ ,it, 2�g y v 407' 2'n,, 2 L E 22H7 40 ,yt 3 % y� r ,O ; Camp 3 4. 3u 24TH 1 "O SSA p$Tlf 1 _._ L__._..t ..t.,TM_ . 6 o Jz �6 rN A'.9rh _ r oTi lql'" ` •it 9 �,27TH ( liIj _______.ti .......______ -.-.--1/1•7114“. 37TH :37TH ' MEpp � I PA-� . _ lt4PfC)1884- 01 TELE ATLAS NA, :AC I •Prepared tt)r.Robison&Associates LLC 970.663.9333 F :•t•s Address^+•.# s,,. . •,. Distil-,T I 'fi-1 Price a 'EH"4 BE 3 8a,, $5eyt' .:::Pestdadt7 ..tit's. . a ' I S 2114 62ND AV Refinance Refinance 8 4 2.5 2449 0.00 MI SW 1: '2119 62ND AV 0.07 HI V 2. 6209 V 21ST ST RD 0.08 MI NNE 3 2319 45TH AV - 1.6 MI E a . • 1313 N.Taft Avenue,Loveland,Colorado 80538 970-663-9333 _ T } 11I ,. . . ....,.. .. „. .. ' Flood Map Borrower:Rutledge,Andrew D&Roxanne L File No.: 2002000B Property Address:2114 62nd Avenue Cage No.:RUTLE921 _ City:Greeley State:CO Zip:80334-7903 Lender:Advantage Bank I I I I I Special Flood ijazard,A•eas . ' ,' 4'i _.. ... .....s-1.--2-!. T_i ■I+ikkirHik• : ID 04sleescup ' ; • 08025.87081 7C, 7----' .. . . . . ..' • . : I.'. - . . . I-- -....8:1 ) .0.......n216tV., , .:,. E. I. .Hi_,.... ,, . . . ....... . : .: . ia.: —. "---1----..-'-7..- 7TIi . : /. -, .. . . • I II • • ,l; 1813 N.Taft Avenue,Loveland,Colorado 80538 570663.9333 11 L a h. 1 III FLOORPLAN Borrower:Rutledge,Andrew D&Roxanne L File No.: 20020008 Property Address:2114 62nd Avenue Case No.:RUTLEDGI City:Greeley State:CO Zip:80634_7903 _ Lender:Advantage Bank • Open Patio 14.0 b to 0 5.1' o ti �B• First Floor Area !� 5.1' 3 12.9' M1p e. 0.0' ii reopen to peiews Entry a 8.8' 8.2 2.2' Dining Kitchen Area 14.4' 2.J' rsi Envy Laundry Fireplace g Entry Hall Stain h a Area 1.0 1/2 Bath Living Room 2'3' 1.0 in Foyer Area r Dining Room Enty 9J 8.8 2.2' JCar Garage(0.6.) 2.0. In S.8' n 0.9' G 1.0' N 20.8' cei 21.6' Cold Front Entry Skrech bi Acet B/Wrgonone •AF61 Coln 1 ATIa5 SIAT+Y1Ry W N3 AREA fic AfOYIN • Code Description- Size Tows Breakdown ' Subtotals • • 8581 Dort Floc 1236.82 1136.82 Mart Ploy ➢/➢ Itch 161.07 1.61.07 g, 1.2 z 8.2 9.64 SLR 851591 597.16 597.16 ( 2.3 z 5.0 11.50 62.82 Seam!Ham 1221.06 1231.66 '' 2.0 a 8.8 8.90 896 55®t 1162.90 1162.66 j 0.5 a 2.0 z 2.0 2.00 t 9.7 a 32.1 311.37 5.2 z 21.9 113.36 1 3.5 a 7.7 26.95 • 3.2 z 37.6 120.32 • 0.5 z 2.0 z 2.0 2.00 5.6 z 31.1 174.16 1.9 z 33.1 62.69 2.3 z 26.7 61.41 14.7 z 22.6 332.22 eem]Haan 25.6 z 40.9 1047.04 6.2 a 26.6 164.62 • • • • TOTAL LIVABLE (rounded) 2449 15 Areas Total(rounded) 2449 1813 N.Taft Avenue,Loveland,Colorado 80538 970-663-9333 FLOORPLAN Borrower:Rutledge,Andrew D&Roxanne L File No.: 20020008 Property Address:2114 62nd Avenue Case No.:RUTLEDGI City:Greeley State:CO Zip:80634-7003 Lender.Advantage Bank C eNo RUTLEDGI FUND 2002000a• 2nd Floor Area PamallyFInished Basement 24.5' 25.5' w, 15.6' as Mailer m 500 Mader Bath Study Bedroom Recreation Area Open 6,2' 'Hallo-In to Recreation Below !Utility Area a Unfinished Room • Bedroom Landing Burin z. a 0, Full Bath Unfinished b Storage e 22.1' Full - Bedroom gat" Bedroom 12.0' 31.5' li Malin M Apn • • 1813 N.Taft Avenue,Loveland,Colorado 60538 970-663-9333 - III IT PLAT MAP Borrower:Rutledge Andrew D&Roxanne L File No.: 20020006 Property Address:2114 82nd Avenue Case No.:RUTLEDG1 City:Greeley State:CO Zip:80634-7903 _ Lender:Advantage Bank ALLISON FARM PLANNING COMM S /ST FILING , SECRETARY itL ,vS/ON .APPROVED THIS a, ENGINEER OF THE Cl9 CITY r: 14 g�• I _ •Y 7'' SAID MAP AND DEDIC. �tl'r`oc cswrto r I'._— — a'_o' — WELD COUNTY,COL( 1994.a e 83 ry a 84 .a T1 - 32 N te.A4 sr. • . •.222 s.r. a MAYOR \ !; 81 N 14.64• s.r. tu I \6_ N v.oto SF. m a - z e' O 2 O tt.080JD sr",. Z' //s' unary tut .N 5.r. o ]102.55-7- 7-117-44---108-00._ 1 _ _ L _ ~38.26 ----- -- - F; N 89.36_40' V 328.D4 ' 25.00'/6 15T ST ----1 �' r 310.00' 25.00 =-++99.36'40.4 -- " 02 ESSir. ..-�s _ ^'�B� °"-rs ua"_ r_-izp�D-_�-1 e; l-12°949_..-7-f- - - - . ssa—,•,— W I 20 1 N( I.I 12 1 1g 0,wino—yam E C9Yf0u 13.1285.:. 11 2 b 10 Ill by 1 S 9 I 5 • e. 15"622 r. T5.579 S Id n b I5.so9 ar. /9 'tail1 s.. 'n q C 'f ^� C Iz. T�' T'' 21 N Z N 89-36'40' 1 INN 21GNe "� 130.90 • 589.36'40'E IN B9'36'40. 4 ' • ♦ I { 989.36 10'Ez u 130.00 130.00 iI N 1 130.00 ' gg ( CI I. .I ti I 1 0---- t N 19 1y 139•93" .dI •em 14.399 s.r. q9 Y I. g 12 6 9 g ei g 2 F' '22 ' d De?' -1 W b 14.300 S r. ''44 1..300 S., d 7- 6 ,..300 9J. • 12.022 s.r. • v. 7 3, Q g 'aow0°w,o Maon�+ 4 �IQ IC. r. 130.90 •' 4 • /6 589.36'40'E I. u I N O I 130.00 ' 64 1 130.00 ' I ..e..4 F—N 130.00 • 1 a 2 13082 ' C 18 a MNf l d o V)r. 4 F U pp N /11 2 .ri p 1214.3995.1. qq{ c a 13 b .9 4 ' LO 3 14,392 sr4 4I;c ] 44 cD`; i4,3o0 s.r. h 14,264 Si. a v1 tp i.,1e. SF b T.T. ] Skkk i�ow.wAcE tt3 r i N89,36,40'� p. 3G z.1:4-.Qh—. \ 130.90 ' I I.. J S 89.36'40' El I NB9.36'40'4 r1 $er36'40'E I �10�' 589.36 40'E. (1 w 25.40 1 130.00 ' II 124.94_ ' 124.94 ' I •c %N./Z .130.82' "1) N .1 l _-15.62' W / Q. ' I i' ct 6.1 N 24 ��09I :1^u'4.2oo s r. /c`� �\\ 14.314 s.r. d} 12.'92 S.r. 1 - , 12.96 s.r. I y A 113091 ar NR• 4 111p�+ �g 11 0. G d r z ykit. e°' 9a 4./.71.1•21,r O S� ' _ 5j4.502 ! 4128'.�. r a°y'1 / ...9_,c74 `� "4y,� . J/. - ye,•ago 1 �tts: -.�� _B - • a• 7/:2IIs\,„y��441y'`I `• g9s. I 7 , ^-' 18 New 15 1> . F"N1 1 °\w.:,,o4 8 R, 5 ///x'2. o 10 19.926 S r c g 19AM S.F. I, 21 r1 �a,3e� 3r � -ta>a s.r. f.tat xr r4 orouwormyturr o -' •» a -foeurwOr• ry(SW! P. "tss-62 r 153.92 • •^ of NOD o~ —1• 12 r-151 19i . 155.00 • _-'7 >a'..1. .00 ' 153.00 • ; i 1 N. 71 .ii 1813 N.Taft Avenue,Loveland,Colorado 80538 970-683-9333 I II 1 SUBJECT PROPERTY P14()1 O ADDENDUM Borrower:Rutledge,Andrew D 8 Roxanne t _ _ _ _ __ — -- File No.: 20020008 __ P�erlyAddress:211462ndAvrn�� __ �.__________• CaseNo:RUTIEDGi -_. __._. Civ:Greeley _- --�___ __-_-.----------------- - Sl_:e:C0-___------ Zi_2:806;44-798.3_______ Ler•aer:Advantage Beak _ _ FRONT VIEW OF SUBJECT PROPERTY Ill�'. '`f ij �`�+L Appraised Date.Ma•ct i2,2002. ! ; .i , j; 1 }cra `- Applaised Value'331G,0)? .'__?' 4.. ' • a 0• il i"`';..i. .ti.- ki• '1':';1-54,9 ;AI, , i�p' I,! a i �,T a.,�! „,iint 'Jise'l�.- PAbbr'' „..+k •. .,o,„.._0•''. ert•4—, 4,-1'.1,‘i ,.. Y�$s. �G� r iI ak� f t ,, II REAR VIEW OF y - ;} �t' ' SUBJECT PROPERTY I i . — ' :i { t • j 14!,. .k. .t- : .. ,!1,;..1 ,14;:„.f i. 3 , ( S •;t . 77 _f Ze , �- i .' 91r i'k S 1 ,FiiV"t4; wit •"r II ' P3'rr. "; , - .� ;:4Ir's. • _ ' t• "Ig ,_J �._a--- i. ' I t; r I I STREET SCENE I ,•: ' I. +Os! .t':.l,' i .. Via,} Ig +, .f. t F t. ,Y • E lilt . .ar aF t,. L kiirL t: P'T1 r^ i4' ~ . I c IL :[ itM ,f ',�;� .t v4 1.'4, ...' ° t 3 t + ;, • ;1 +) : r-9 1y# l'''ri 1.,,...i.-1-;4'ri.4.1 P7.. .,, .w A. g ��;%vh ; •43F �h�a Y�'L.. •' i %f FF TTi 1 1H I .. ... - .. . 4 _ .141. ,... A...._.. . C•aMP 1RABLE PROPER" PHO 7Q ADDENDUM Borrower: Rutleooz,Andrew UB Rozanm�LFie No OC2)c08 Pro�ertyAddress1217462n0 Avenue Case N-:. RU FFUG1 C'�ty:CL _ ___ _. —. _ S:ale_C CO Lip: °333. 7903__..____ :ender:Advantage Bank __ _--_.._ it CONPARAi3 .E SALE#1 er .� 3 Ill 2110l�r IA�enue w rw 1141 �f Gres Y CU 63834 �7> N. [ ti{ }g; t Mr@r Sale h Cr C' 12301 CCE 4 d I ;.Fit rte, Y v ., *x VII ? 4 sap x It s Y '4 55� * r ,xf ; n q t P Ya • � py t M31' 2- 02�. rj tt t a sax ft.`- ;t i F .; 1 r ai !r:t,:, { s' + t s t $s�.. COMPARABLE SALE#2 �:t,, . III � • ,d 4{'t-V *+ { n, .C,{. FJ '' 620bW i Yreat 4E,1-1 ,iii _• DC { t t �� '}� lt`' , Greeley, 1, 0034 a • �1` a AIR , s S. 4 Sala Dal I11,0(1I CUE ,.,a , y'!1r. 4' n 1.- . ,� sr' Sale f u<c E 3)0.000 � Ili i 14 f r is 1' r r 1. (0 I , J� a > i FNl {y . fi a u , a'�s �g 4 xx• � ""t a t 1 £ r4a '-`-- ','In.',.;,:.,';';', ) ! F , €€x�l pIt 1 i':� w if ttj Rp -' fix','El9 ( x Sf .iti t �{ klt.:. �4 4:!,4: µ' / A,: 'I aT� r,Yf t.1.0, ..: tt 4r '4A COMPARABLE SALE#3 - '4i - 2310 41111 F d enue ' � c -r Y. Y�c.s} ^". -rr.i i-t S3{j # k,: Gray EY CC.10°34 k,:!,..4,3.4.4,� .- * .x .. A Lx 4 j- {tk� ¢ 5 Sa'e 9a 01 1 72002 ODE r ! 1# fi t' 4r D+� .� * « sae Prim $315,001 a i "� Y 4444' 4 1 �4� � a^' F i #� �} 1 L j 1 f f z r T. ` *'� ' I w } w yy } tl. 1 r . +9 1 • .. t -q. a. 3 a_ �. .i'• t K, s a ,.., • ..r • A Complete Analysis Summary Appraisal Report • PLANNED UNIT DEVELOPMENT RUTLEDGI PROJECT INFORMATION Flt.No.20020008 Subject Unit Address:2114 62nd Avenue Greeley,CO 80634-7903 Project Name:Allison Farms If completed: No.Phases NoDData No.Units 107 No.Sold 107 If incomplete: Planned No.Phases No.Units _ No.Sold_ Units in Subject Phase: Total approx 60 Completed 60 Sold 60 Rented 0 Apprax No.Units for Sale: Subject Project approx 5 Subject Phase Describe Common Elements and Recreational Facilities: landscape fencing,landscape drainage,an landscape sprinklers. The following information is a continuation of the sales comparison analysis presented in the attached Form 70.The comparables used are the same as those used on the Form 70.Adjustments made for the specific project information presented below are made in the same manner and are included in the total adjustments stated in the Form 70. Subject , Comp.No.1 - Comp.No.2 Comp.No.3 Prolect Name Allison Farm Allison Farm _ Allison Farm FoxHills Item Description Description ±MI. Description ±Adl. Description ±AJ__ Common Elements Fencing Fencing Fencing None and Recreation Facilities Mo.Assessment 29 29 29 0 ____ Leasehold/Fee Fee Simple fee Simple Fee Simple Fee Simple TOTAL ADJ TTIIIIENT v. 0 0 - 0` Comments on the analysis of common properly,monthly assessment,and ownership rights.: The subject expanded market area is commonly referred to as Westridge Farms. The home owner's association fee was recently increased from;334yr.to 1350/w__ This fee appears to be reasonable compared to other local associations. Common areas may_be expanded in the future. A _ playground is under discussion. The owners are in control of the association,Westridge Farms Community Association. Mr.Don Bostrom,the Association Treasurer,was able to confirm 107 total units,none of which are rentals during a phone conversation of 03/13/02.MultiQe_ builders within a filing is common. The subject filing has more than one builder. Discuss}i.OA Fees and any Utilities included.: Rubbish removal is included In the association fee. Snow removal is indicated as also being included,however,is rarely required or performed. Project Maintenance: The subject maintenance appears adequate. Additional Comments: No special assessments are being Incurred. No litigation is known to be pending. Appraiser's Signature: __ Date: 03/13/2002 �_ J Appraiser's Name: Toni Diane Robison — hod*Mac Four 70 617 Prc4.s np P....7 NM Wow+Wk.a,,u 13 V...q.oss'om Robison&Associates • I- III I i. . ..; t . . _., A Complete Analysis Summary Appraisal Report _ - • Case No.RUTLEDG1 File No. 20020006 g j ;? t FIRREA/USPAPADDENDUM Bonner Rutledge,Andrew D&Roxanne L Properly Address 2114 62nd Avenue crty Greeley coma,Weld Slate CO Zip Code 80634-7903 lender/Oen' Advantage Bank __._ The purpose of this appraisal Is to estimate the Market Value of the subject property as defined herein.The function of theappraisal is for_ mortgage loan purposes. The estimate of value is to be used solely by the client as a basis for a lending decision. The scope of the assignment involved the following steps: preliminary research to determine market trends,infuencessnnd other factors _ _pertinent to the subject property;a second review of data centered upon the selection of the beet comparables availabl`which are then verified for accuracy;completion of the appraisal report In accordance with the standards promulgated by the Appraisal Foundation and__ lender guidelines;and,finally delivery to the client. Intended Use/Intended User t - .^ + • ? . The purpose of the appraisal is to estimate the market value of the subject property as defined in this repo:t on behalf of the referenced._ client as the intended user of this report. The intended use of the appraisal is to assist the client,as the intended user of this repartJin __l evaluating the subject property for loan decision making purposes. The use of this appraisal by anyone other than the stated intended I user,or for any other use than the stated intended eseyis prohibited. History of Property x , .; ; d ,. a_ 1 Current listing infomubon:The subject is not currently listed on the MLS and has not been listed during the past 12 months Sionage indicate-12_1 marketing was not present et the subject s@us. The subject has not transferred during the past 12 months. _ Frrwte:The subject has not sold during the past 12 months. Exposure Time/Marketing Time r Based on sales analyzed in this appraisal report,a reasonable marketing period for the subject property is 4 months given the current market conditions. Personalty(non-realty)Transfers Used appliances and window coverings will normally transfer at close. Washer and_r_dmpr apLances are occasionally considered personal items and will not transfer. Stoves,dishwashers,and refrigerators do typically transfer under normal transaction conditions. Ne value is attributed to any of these items in this appraisal, Additional Comments . Ail comparable sales are closed sales. Environmental and Soils audits,Title,Survey,and Home Inspection Report were not available for the subject property. CC&R's were__ reviewed for the purpose of this report. _ Hazardous materials,which may or may not be present on the subject proper below ground,were not otx;arvetl t�J the appraiser___I The appraiser has no knowiedge of the existence of such materials on or below the property,and the appraiser is notgualified to detect _I and identify such substances. ____ The presence of potentially hazardous materials may affect the value of the property. The value estimate is predicated upon the ___ assumption that there are no such materials on in or below the property that would cause a loss in value. No responsibility is assumed for a�such conditions,or for any expertise or engineering reec irod to discover them. The client is urged to retain an expert in tnis field if desired. _I The 1999 Uniform Standards of Professional Practice defines the market value conclusion as an opinion of market value and not an estimate of market value. The extent of analysis applied to this assignment is stated in the Appraiser's Certification and on the Freddie Mac form 239,dated 8/93 and Fannie Mae form 10049,dated 6/93, ______I Certification Supplement _ I. This appraisal assignment was not based on a requested nunenum valuation.a spedec valua5m,or an approval of a ban. 2. My ou nprbathn b not contingent upon the reporting of o predetermined value r dtoctbn In value that favors the cause of the client Me amount of We value estimate.the attainment of a stipulated result or the continence of a subsequent event. pipnn,, Apprabr(a): La— Supervisory Appraisr(a); Toni Diane Robison Effective datefiepod date: 03/13/2002 Effective detaiReport date: i arm fUA TM ba,. o&e Wrc'mmymva.wvGm,mm,iavlavon f l I r II. , I A Complete Analysis Summary Appraisal Report USPAP COMPLIANCE ADDENDUM File No. 20020008 aorruwer Rutledge,Andrew D 8 Roxanne L _Order a Property Address 2114 82nd Avenue city Greeley County Weld __State CO zipCodc 80834-7803 Lend«IClient Advantage Bank Chien Reference N RUTLEDGI _ Only rh_j ss_ilcnsrlhe Ae hint ireLoIQib rrR¢n_ PURPOSE,FUNCTION AND INTENDED USE.OF THE APPRAISAL • QThe purpose of the appraisal is to provide an opinion of market value of the subject property as defined in this report,on behalf of the appraisal company facilitating the assignment for the referenced client as the intended user of the report. The only function of the appraisal is to assist the client mentioned in this report in militating the subject property for lending purposes. The use of this appraisal by anyone other than tic stated intended user,or for any other use than the stated intended use,is prohibited. The purpose of the appraisal is to provide an opinion of market value of the subject property,as defined in this report,on behalf of the appraisal company facilitating the assignment for the relerenced client as the intended user of this report. The only function of the appraisal is to assist the client mentioned in this report in evaluating the subject property Real Estate Owned I REO)purposes. The use of this appraisal by i nynse other than the stated intended user,or for any otter use than the stated intended uses,is prohibited. The purpose of this appraisal is to ,on behalf of the appraisal company facilitating the assignment for the referenced client as the intended user of this report. The only function of the appraisal is to assist the client mentioned in this tepon in evaluating the subject property for . The use of this appraisal by anyone other than the stated intended user,or for any other use than the stated intended use is prohibited. TYPE OF APPRAISAL AND APPRAISAL REPORT • X This is a Complete Appraisal written in a Summary __ Report format and the USPAP Departure Rule has_or been invoked. This is a Limited Appraisal written in a Summary Report format and the USI'AP Departure Rule lrsi been invoked as disclosed in the body or addenda of the report. The client has agreed that a Limited Appraisal is sufficient fur its purposes. SCOPE(EXTENT)OF REPORT • y OThe appraisal is based on the information gathered by the appraiser from public records,other identified sources,inspection of the subject property and neighborhood,and selection of comparable sales,listings,undlor rentals wain the subject market area. The original source of the comparables is shown in the Data Source section of the trinket grid along with the sconce of confirmation,if available The original source is presented first. The sources and data arc considered reliable. When conflicting infoimanna was provided,the solace deemed most reliable has been used. Data believed to be unreliable was not included in the report nor used as a basis for the value conclusion. The extent ofanalisis applied to this assignment may be further imparted within the report,the Appraiser's Unification below and/or any other Statement of Limiting Conditions and Appraiser's Certification such as may he utilized within the Freddie Mac form 439 or Fannie Mac form 1004b(dated 6'93),when applicable. _ MARKETING TIME AND EXPOSURE TIME FOR THE SUBJECT PROPERTY G • A reasonable marketing time for the subject property is 180 day(a)utilizing market conditions penircet to tie apptaisal assignment. A reasonable exposure time for the subject property is_ day(s). APPRAISER'S CERTIFICATION _ .. I certify that,to the best of my knowledge and belief: - The statements of fact contained in this report are true and correct. • The reported analyses,opinions,and conclustions are limited only by tiro reported assumptions and limiting conditions,and arc my personal, impartial,and unbiased professional analyses,opinions,and conclusions. - I have no present or prospective interest in the property that is the subject of this report,and no personal irtcrest with respect to the parties involved,unless otherwise stated within the report. - I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. - My engagement in this essigtunent was not contingent upon developing or reporting predetermined results. - My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause efthe client,the amount of the value opinion,the attainment of a stipulated result,or the occurrence of a subsequent event directly related to the'wended use of this appraisal. - My analyses,opinions,and conclusions were developed,and this report has been prepared,in coafomtity with tie Uniform Standards of Prufastcal Appraisal igetice. - I have I( or have not U made a personal inspection of the property that is the subject of this report. (if more than out peraars signs 11th,report, this certification must clearly specify which individuals did and which individuals did not make a personal inspection of the appraisal property) - No one provided significant real property appraisal assistance to the person signing this certification. (If there are exceptions,the name aced individual providing significant professional assistance must be stated.) NOTE• In the case of any conflict with a client provided cerlificraion(i.e.,Fannie Mae or Freddie Mac),thus revised cert icarlon shall lake ......� precedence. - Supervisory Appraiser's Certification: If a supervisory appraiser signed the appraisal report.he or she certifies and agrees that: I i irectly supervise the appraiser who prepared the appraisal report,have reviewed the appraisal report,agree with the statements.ur1 coa_lusions of the appraiser,agree to be hound by the appraiser's certifieations nambered 2-7 and 9 on the second page of Freddie Mee lama 439 6-93,Fatin e Mae Form 100411 6-93,or the third page of Form 2055,and am taking tall responsibility for the appraisal report. APPRAISER'S AND SUPERVISORY APPRAISER'S SIGNATURE 14 ' i 4 ' APPRAISER: SUPERVISORY APPRAISER(ashy Ir required): Signature: _ Signature: Name:Toni Diane Robison Nana;: Date the Report was Signed:03/13/2002 Date the Report was Signed:_____ State Certification if:CR40020392 State Certification N: or State Licenx N: or State Liaentao State:CO State: —_ __ Expiration Date ofCertifiation or License:12/31/20004 Espituion DateofCertl5atiort or liaise:pDid inspect subject property Iona;award Comparable interior tk Exterior Interior&Eats iar Exterior only Exter;er only uSPAPCoiaiiru AadnLa.M.UM I of I cost' rr.a,wa Wes*ra,14,*Mum.tr.,...eoassi.va..vaximPan a. d RUTLEDG1 • Ha Na. 20020008 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 set affected by undue stimulus. Implicit in this definition Is the consummation of a sale as of a specified date and the passing of t.tie tram seller to buyer under conditions whereby:(1)buyer and seller are typically motivated;(2)both parties are wet informed or well advised, and each acting in what he considers his 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 nornal consideration for the property sold unaffected by special or creative financing or sales concessions'granted by anyone associated with'be sale. 'Adjustments to the comparables must be made for special or creative financing or sates 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 markets reaction to the financing or concessions based on the Appraiser's judgment. STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject tc the following 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. The appraiser assumes that the title is good and marketable and,therefore,will not render any opinions about the title. The property is appraised on the basis of it being under responsible ownership. 2, The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is included only to assist the reader of the report 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 sate sources)and has noted in the appraisal report whether 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 speei`ic arrangements to do so have been made beforehand. 5. The appraiser has estimated the value of the land in the cost approach at Its highest and best use and the improvements at heir contributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid if they are soused. 6. The appraiser has noted in the appraisal report any adverse conditions(such as,needed repairs,depreciation,the presence of hazaro,s wastes,toxic substances,etc.)observed during the inspection of the subject property or that he or she became aware of during the normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report,the appraiser has no knowledge of any hieden or unapparent conditions of the property or adverse environmental conditions(including the presence of hazardous wastes,tnic substances,etc.)that would make the property more or less valuable,and has assumed that there are no such conditions and makes no guarantees or warranties,express or Implied,regarding the condition of the property. 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,the appraisal report must not to considered as an environmental assess-cent of the property. 7. The appraiser obtained the Information,estimates,and opinions that were expressed in the appraisal report from sources that he a she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibi,ity for the accuracy of uch items that were furnished by other parties. 8. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professorial Appraisal Practice. 9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory compleion, repairs,a alterations on the assumption that completion of the improvements will be performed in a workmanlike manner. 10. The appraiser must provide his or her prior written consent before the lender/silent specified in the appraisal report can distribute the appraisal report(including conclusions about the property value,the appraiser's identity and professional designations,and refetenc::s to any professional appraisal organizations or the firm with which the appraiser is associated)to anyone other then the borrower Ise mortgagee or its successors and assigns;the mortgage insurer;consultants;professional appraisal organizations;any state or fed 'ally approved financial institution;or any department,agency,or Instrumentality of the United States or any state or the District of Cohn it:a; except that the lender/client may distribute the property description section of the report only to data colleotion or reporting servi a a) without having to obtain the appraiser's prior written consent. The appraiser's written consent and approval must also be obtained b-fere the appraisal can be conveyed by anyone to the public through advertising,public relations,news,sales,or other media. Freddie Mac Form 439 6-93 Page 1 of 2 Fannie Mae Form 100.48 693 III II 4 II' l ... . ... .. RUTLEDGI Re No, 20020008 APPRAISERS CERTIFICATION: The Appraiser certifies and agrees that 1. I have researched the subject market area and have selected a minimum of three recent sales of properties most similar and proximate to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the market reaction to those items of significant variation. If a significant item in a comparable property Is superior to,or more favorable than, the subject property,I have made a negative adjustment to reduce the adjusted sales price of the comparable and,if a significant item in 3 comparable property is inferior to,or less favorable than the subject property,1 have made a positive adjustment to increase the adjusted sales price of the comparable. 2. I have taken into consideration the factors that have en impact on value in my development of the estimate of market value in the appraisal report. I have not knowingly withheld any significant information from the appraisal report and I believe,to the best of n.y knowledge,that at statements and information in the appraisal report are true and cared. 3. I stated in the appraisal report only my own personal,unbiased,and professional analysis,opinions,and conclusions,which are subjea only to the contingent and limiting conditions specified in this form. 4. I have no present or prospective interest in the property that Is the subject to 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 the estimate of market value In the appraisal report on the race,color,religion,sex,handicap,familial status,or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property. 5. I have no present or contemplated future interest in the subject property,and neither my current or future employment nor r.y compensation for performing this appraisal is contingent on the appraised value of the property. 6. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the amount of the value estimate,the attainment of a specific result,or the occurrence of a subsequent event in order to rece,ve ray compensation and/or employment for performing the appraisal. I did not base the appraisal report one requested minimum valuation.a specific valuation,a the need to approve a spedfic mortgage ban. 7. I performed this appraisal In conformity with the Uniform Standards of Professional Appraisal Practice that were adopted a promulgated by the Appraisal Standards Board of The Appraisal Foundation end that were in place as of the effective date of this appraisal. with the exception of the departure provision of those Standards,which does not apply. I acknowledge that an estimate of a reasonable time for exposure In the open market is a condition In the definition of market value and the estimate I developed is consistant with toe marketing time noted in the neighborhood section of this report,unless I have otherwise stated in the reconaliatIon section. 8. I have personally inspected the interior and exterior areas of the subject property and the exterior of all properties listed as comparables in the appraisal report. I further certify that I have noted any apparent or known adverse conditions In the subject improvements,on tile subject site,or on any site within the immediate vicinity of the subject property of which I am aware and have made adjustments for these adverse conditions in my analysis of the property value to the extent that I had market evidence to support them. I have also commentne about the effect of the adverse conditions on the marketability of the subject property. 9. I personally prepared all conclusions and opinions about the real estate that were set forth In the appraisal report. If I retied un significant professional assistance from any individual or individuals in the performance of the appraisal or the preparation of the appral:al report,I have named such individual(s)and disclosed the specific tasks performed by them in the reconciliation section of this appralea: 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 the report;therefore,if an unauthorized change is made to the appraisal report,I will take no responsibility for it. • • SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report,he or she certif as and agrees that:I directly supervise the appraiser who prepared the appraisal report,have reviewed the appraisal report,agree with the statements and conclusions of the appraiser,agree to be bound by the appraiser's certifications numbered 4 through 7 above,and am taking full responsibility fa the appraisal and the appraisal repot, ADDRESS OF PROPERTY APPRAISED: 2114 62nd Avenu,Greeley,CO 80634-7903 APPRAISER: SUPERVISORY APPRAISER(only if required) Signature: a. Signature: ____,_ Name: Toni Diane Robison _ Name: Date Signed: 03/13/2002 _ Date Signed; State Certification t CR40020392 State Certification it or State License A or State License State:CO State: _. Expiation Date of Certification a License: 12/31/2004 Expiration Date of Certification or License: Did ❑ Did Not Inspect Property Robison and Associates,LLC - Freddie Mac Form 439 6-93 Page 2 of 2 Fannie Mae Form 10040 6-93 III I .. 111 l • RUTLEDGI File No.20020008 • QUALIFICATIONS""""` QUALIFICATIONS OF TONI D.ROBISON • • Real Estate Appraiser&Consultant State of Colorado-Certificate CR440020392,expiration 12/31/2004 State of Arizona Ucense AL#10677,expiration 08/31/2002 Robison&Associates,LLC I 1813 North Taft Avenue Loveland,Colorado 80538 (970)663-9333 • • DESIGNATIONS: State of Ohio,Ohio REALTOR Association,Graduate REALTOR Institute,(GRI) • State of Ohio,Ohio REALTOR Association,Accredited Buyer Representative,(ABR) State of Ohio,Auctioneer Apprenticeship Certificate MEMBERSHIPS HELD: Former member National Association of Realtors(NAR)(1997-1999) Former member Ohio Association of Realtors(OAR)(1997-1999) • Former member Warren-Area Board of Realtors(WABOR)(1997-1999) !, EDUCATION: • • C.F.High School,Lyndhurst,Ohio Hondros College,Independence,Ohio Walton School of Auctioneering,Medina,Ohio Crown Academy,Lakewood,Ohio • Appraisal Institute course work EXPERIENCE: • Self-employed(1993-1998)as Staff 9.1.1,Inc.which provided temporary labor for special events within the State of Ohio. Ad Partire Agency was created as a subdivision of Staff 9.1-1,Inc.,to manage,restore,rent,and sell small residential income properties.Home inspection specialty. Arizona appraisal association with World Savings&Loan and Sell&Associates(1999- 2000). Colorado appraisal association with WestTerra,a Corporation of Denver(2000-2001). Two years real estate sales(1997-1999). FHA National Register. • • • • • it I' 11 f 4 I I COLORADO`--.1 ATE BOARD DE REAL E SIA'1E:APPRAISERS LICENSE /ERI=ICATION 23:2)0A• aim lilliria .'F Sif 6nY v+.als3i.. Ail'' i.f m�: Jle`.h sstititi Y N^tea'iYHa telit_ f yt g „ t V" a °a t/ ' EXpifQS rase nct Ij c a t�,44 ctt" t' �a it tat ` t:t It 1,aun orrob th' first $ i'= ^ dyEGAftiRIWi OF :EOULATOR .4%;•!!,4E, Bs,V., ,e rty' i 4 < i t c 4 .fa .` E (CIV t ° iS tt'F} a5ai4t it :r? AI,{!LC[17CIr'111.; $ d Ifi f1; - - ! , 1'i"¢ 1�F gv �i cry gn •,a ¢ 1,30 t { �L$$ + "' ?�1S $. 2c/ ,. , xana :rs • r }'f +c Y'I,tl � th�l C-nsl4 ii I Y{b$a +tl 10 11:11IC x Eeyti[�Lio) 1111. 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J Ii ...tdi ?-.;t': ot.Ybnittu t EJab>�oi C +4 3 INC: .R+ a st e, € • x•IqR leans 3 .{ipi 3 ( II t),vIy.ttvE rti11t,V �ldl ew 4 i ft i t..,' r4 ak * d -ILltrill I IelmuiSmlenlc\lots b , Isniii } e t t {4 t i E�<L4 tl< �.,Ik rc;(1?"'' i i JsS_'Je- t ,It atf,' S.. 51; : '1] .�+.idlRAiJil civil l�'r4 i.t:4 I III I Ali. . ... 1. f Robison and Associates,LLC Real Estate Appraisals RUTLEDG1 He No.20020008 "*"*""INVOICE""""w... File Number:20020008 Stacy Zeigler Advantage Bank 4731 West 10th Street,Ste B Greeley,CO 80634 Borrower: Rutledge,Andrew D&Roxanne L Invoice S: Order Date: 03/11/2002 Reference/Case A: RUTLEDG1 PO Number: 2114 62nd Avenue Greeley.CO 80634-7903 $ 350.00 $ Invoice Total $ 350.00 State Sales Tax@ 0% $ a00 Deposit ($ Deposit (5 Amount Due $ 350.00 Terms: Verbal;Net 30 • Please Make Check Payable To: Robison and Associates,LLC 1813 N.Taft Avenue Loveland,Colorado 80538 Fed.I.D.f:52-2359769 • 1813 N.Taft Avenue,Loveland,Colorado 80538 970-663-9333 1' Ili . L o - CLERK TO THE BOARD PHONE (970)356-4000 EXT 4217 FAX: (3(3033)352-0242 WEBSITE: www.co.weld.co.us ' 915 10TH STREET P.O. BOX 758 O GREELEY, COLORADO 80632 COLORADO July 22, 2003 - RUTLEDGE ANDREW D & ROXANNE L 2114 62ND AVENUE GREELEY CO 80634 Parcel No.: 095916107013 Account No.: R0296095 Dear Petitioner(s): The Weld County Board of Equalization has seta date of July 31,2003,at or about the hour of 2:30 PM, to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Department of Public Health and Environment,Room 210,1555 North 17th Avenue, 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 5,2003,and mailed to you on or before August 12, 2p03. 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 request it directly from the Assessor's Office by fax (970) 304-6433, or by calling (970) 353-3845. f I RUTLEDGE ANDREW D & ROXANNE L- R0296095 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 Carol A. Harding Deputy Clerk to the Board cc: Stanley Sessions, Assessor ( I Hello