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Home My WebLink About20032084.tiff RESOLUTION RE: THE BOARD OF EQUALIZATION, 2003, WELD COUNTY, COLORADO -ADJUST VALUE IN PART PETITION OF: BRINKMAN RONALD F 131851 AVE CT GREELEY, CO 80634-2119 DESCRIPTION OF PROPERTY: ACCOUNT#: R2133986 PARCEL#: 095912105013 - GR 2W6-17 L17 & S10FT L16BLK6 2ND WESTVIEW %1166 25TH AVE% SITUS: 1166 25 AV GREELEY 00000 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 being present, 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 Board of Equalization, that the evidence presented at the hearing supported, in part, the value placed upon the property by the petitioner. The assessment and valuation of the Weld County Assessor shall be, and hereby is, adjusted as follows: ACTUAL VALUE AS DETERMINED ADJUSTED BY ASSESSOR ACTUAL VALUE Land $ 27,930 $ 27,930 Improvements OR Personal Property 155,049 147,549 TOTAL $ 182,979 $ 175,479 2003-2084 AS0055 00 RG Cp , ?rte RE: BOE - BRINKMAN RONALD F 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 thirty (30) days of this resolution: 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. 2003-2084 AS0055 RE: BOE - BRINKMAN RONALD F 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 24th day of July, A.D., 2003. BOARD OF COUNTY COMMISSIONERS EL WE COUNTY, COLORAD aavi � F .� Davi . ong, Chair Wetd eo t ` . o the Board 3 Robert D. Mas n, Pro-Tem BY: Deputy Clerk to the Board . J. Gei e APPROVED AS TO FORM: William H. Jerk a y .((�,�.(Q�1.coJ Ass' ant Co y Attorney (f Glenn Vaad Date of signature: S l 2003-2084 AS0055 NOTICE OF ADJUSTMENT OFFICE OF COUNTY ASSESSOR ]400 NORTH 17th� AVE. GR 2W6-17 L17 & S10FT L16BLK6 2ND OREELEY,coao631 WESTVIEW %1166 25TH AVER SITUS : 1166 25 PHONE(970)3533845,EXT.3650 1166 AV GREELEY 00000 Wino c. OWNER: BRINKMAN RONALD F COLORADO BRINKMAN RONALD F LOG 2643 131851 AVE CT PARCEL 095912105013 ACCOUNT R2133986 GREELEY, CO 80634-2119 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: The value of your property was adjusted to reflect the market price paid during the base period of January 1, 2001 to June 30, 2002 . This value is then time adjusted to June 30, 2002 . This time adjustment may show a higher value for tour property than you actually paid if the market was continuing to go up over hat period of time . PETITIONER'S ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ESTIMATE OF VALUE ACTUAL VALUE ACTUAL VALUE PRIOR TO REVIEW AFTER REVIEW <RESIDIrNTIAt 193426 182979 C.I TOTALS $ $ 193426 $182979 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. By: Stanley F. Sessions 06/26/2003 WELD COUNTY ASSESSOR DATE 15-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 - 3/ 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 EQUALIZATION'S DETERMINATION: The County Board of E uahzation must make a decision on -yew appeal and maii 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.col orado.gov/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. Ttie, 0,,,,_,,,,,..<_ c-'a-L.-crt.r.✓ .. G�y2'-:1.+ns-i_Q.,_ .2//t ae' put -,_. 1-4C Oti.C4, ci <-e M.% ;_ • et-A_, Ct fial.„, ,. c-f C .lis, f-� do 1.4—.C. L. /7 A.C' C 5 JA-B-Ls-� 7.-tn,e 7h+..- Od-ette, 1 fn-1—/ a`- 1,2+-t 2� i..L: A:Bf c� fL C:/L1-"-° . JtEt... ' N•.�, ;Lire 2, a.-AL tit 7r2 Aaa-- Le_ cLLX Ct._ in-:,C i -<.c(1.- C- 7(ftett -LA-, .5 J C b.-E_' U Cc r e_t.t. r t,..-Y4-"t-a.y,! Vs/ cn'3 SIL,NA Ii-OF PETITIONER DAT to Carol S. Hayden, SRA PROPERTY LOCATED AT: 1166 25th Av Greeley, CO 80631 FOR: Waterfield Financial Corp 7500 W Jefferson Blvd, Ft Wayne, IND 46804 AS OF: June 17, 2003 BY: Carol S. Hayden, SRA This form was reproduced by United Systems Scftw ere Company 18001989 8727 i 4 Carol S. Hayden, SRA WE' 146-03/Summary Report UNIFORM RESIDENTIAL APPRAISAL REPORT File No. NWC1-°116 • Property Address 1166 25th Av City Greeley State CO Zip Code 80631 Legal Description Lot 17 & S 10' Lot 16. Blk 6, 2nd Westview County Weld Assessor's Parcel No. 095912105013 Tax Year 2002 R.E.Taxes 5 1,306.80 Special Assessments $None Borrower $RINKMAN Ronald F Current Owner Brinkman I Occupant I Owner [ X�Tenant I- -I Vacant . Property rights appraised I X I Fee Simple I I Leasehold ( Project Type I J 1 PUD 1Condominium(HUD/VA only) HOA $None /Mo. rn Neighborhood or Pro'ect Name - tvie Ma, Reference g ; I •I Census Tract Sales Price BRef i Date of Sale 6/17/3 ins Description and $ amount of loan charges/concessions to be paid by seller None Lender/Client Waterfield Financial Corp Address 7500 W Jefferson Blvd. Ft Wayne. IND 46804 Appraiser Carol S. Hayden. S Address Location X Urban n Suburban in Rural Predominant Single family housing Present land use % Land use change CE AG Built up X Over 75% n 25-75% Under 25% occupancy $0100) yrs)En One family 75 n Not likely nlikely Growth rate IMElaild DEVEWhilible n slow n Owner 70 100 Low 15 2-4 family 10 n in process Property values n Increasing X Stable n Declining nTenant 30 250 High 50 Multi-family 5 To: Demand/supply Shortage n In balance n Over supply n Vacant(0-5%) yl Predominant I Commercial 10 Marketing time Under 3 mos. n 3-6 mos. IT Over 6 mos. nvacanl lover 6%l 150 30 ( ) Note: Race end the racial composition of the neighborhood are not appraisal factors. _ Neighborhood boundaries and characteristics: N; 4 St; E: 26 Av. 23 Av: S: 16 St; W: 35 Av. 37 Av Ct. eside tial subdiv's'ons a .e ar - ,ti-i ''ties • Z Factors that affect the marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability. appeal to market. etc.): •• The Northwest Central ne'ghborhood consists of several residential subdivisions, including Westview, Subject's immediate subdivision. A strip of commercial properties including a neighborhood shopping center & a buffer of duplexes & 4—plexes border Hwy 34 Business, 10 St. No adverse factors. Market conditions in the subject neighborhood (including support for the above conclusions related to the trend of property values, demand/supply, and marketing time - - such as data on competitive properties for sale in the neighborhood, description of the prevalence of sales and financing concessions, etc.): As the Greeley/Weld County area begins 2003 . the real estate market is showing some signs of slowing. There is still considerable new const. & a good resale market due to pop. increases & low interest rates, but seller concessions are typical in most market ranges. Fixed rates in the 5% range; VA&FHA loans are Project Information for PUDs (If applicable)- -Is the developer/builder in control of the Home Owners'Association IRON? Yes n No • Approximate total number of units in the subject project Approximate total number of units for sale in the subject project Describe common elements and recreational facilities: n/a Dimensions Unavailable Topography Gently sloping Site area 9500e5t Corner Lot Yes In No Size Typical Specific zoning classification and description R—L: Low density residential Shape Irregular . Zoning compliance X Legal [ Legal nonconforming (Grandfathered use) Illegal in No zoning Drainage Appears adequate Highest & best use as improved n Present use Other use (explain) View Typical resi ul Utilities Public Other Off-site Improvements Type Public Private Landscaping Good, professional Electricity El Street halt�SjJ Driveway Surface Concrete Gas ��X I Curb/Gutter Concrete X Apparent Easements Elec pole/rear Water I n l Sidewalk Concrete UU J FEMA Special Flood Hazard Area I I Yes X No Sanitary Sewer X Street Lights Wood pole IJI FEMA Zone C Map Date 7/16/79 Storm Sewer Alley None IT FEMA Map No. Greeley: 080184 PNP Comments(apparent adverse easements,encroachments, special assessments,slide areas, illegal or legal nonconforming zoning use,etc.): Chain link fence. spk system. Patio. cov fr porch. Irrea shape, as site sits on curve & picks up pie—shaped area. E ec pole in rear: g site is a tr de—off. GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION No.of Units 1 Foundation Slab Area Sq. Ft. 1 Roof No.of Stories 1 Exterior Walls Bric Crawl Space % Finished 80 Ceiling X Type(Det./Att.) Det Roof Surface ew com Basement Prd rt Ceiling 'le Walls Design (Style) 1—st Gutters &Dwnspts. a Sump Pump Walls an Pup Floor n Existing/Proposed Existg tg Window Type d Dampness N Floor None n Age (Yrs.) 4O Stonn/Screens S s Settlement o Outside Entry Unknown n w Effective Age (Yrs.) 2-15 Manufactured House N. Infestation NO apu. elder f.,nish StDoo ,CeilFns n >ROOMS Foyer Living Dining Kitchen Den Family Rm. Rec. Rm. Bedrooms N Baths Laundry Other Area Sq. Ft. • • Basement * 7 55• Level 1 flfl 1 1 3 1.7 x LL • Level 2 • • Finished area above grade contains: 6 Rooms; 3 Bedroom(s); 1.75 Bathls); 1,598 Square Feet of Gross Living Area 1 INTERIOR Materials/Condition HEATING KITCHEN EQUIP. ATTIC AMENITIES CAR STORAGE: Floors Cpt/G Type FA Refrigerator n None IT Fireplace(s) N n None • Walls DW/G Fuel N gas Range/Oven n Stairs n Patio El Garage N of cars Trim/Finish Stnd/G Condition Updt/7yr Disposal X Drop Stair n Deck n Attached 2 Bath Floor cpt/G COOLING Dishwasher X Scuttle n Porch Frnt [---1 Detached Bath Wainscot CeralG Central yes Fan/Flood X� Floor Fence Sprk 0 Built-In rh Doors Flush/G Other •B- Microwave DTI Heated n Pool n Carport IT n Condition r v Washer/Dryer Finished O Driveway Double Additional features (special energy efficient items,etc.):WP'' maintained custom bit. 2—owner home. Spacious open rooms• quality Andersen )d windows. Atrium door to patio. 3rd BR** Condition of the improvements, depreciation (physical, fund. H external), repairs needed, quality of construction. remodeling/additions, etc.:** suitable for Office. Bsmt El 1s rock wall. Finished garage with automatic opener. Phys depr--age/life method.*Bsmt BR does not have egress window; u ta•ical fo this vinta•e.Washer k'tchen•dr er - '' I ..t closet•funct'o.. . -. Adverse environmental conditions (such as, but not limited to,hazardous wastes,toxic substances,etc.)present in the improvements,on the site, or in the immediate vicinity of the subject property: There are no known or apparent adverse environmental conditions that would negatively impact on the value of the property. Freddie Mac Form 70 6.93 This farm was reproduced by United systems software Company (9001969-8727-Page 1 Fannie Mae Form 1004 8-93 Carol S. Hayden, SRA WF 146-03/Summary Report, Valuation Section UNIFORM RESIDENTIAL APPRAISAL REPORT File No. NWC1-116 ESTIMATED SITE VALUE =$ 40,000 Comments on Cost Approach (such as, source of cost estimate, ESTIMATED REPRODUCTION COST-NEW OF IMPROVEMENTS: site value, square foot calculation and, for HUD,VA and FmHA, the Dwelling 1.598 Sq. Ft. @$ 62.43 =$ 99,763 estimated remaining economic life of the property): Source is 1,598 Sq. Ft. @$ 11.97 = 19,128 Marshall & Swift Residential Cost • App) fn bsmt = 12.500 Handbook with latest updates. Garage/Carport 437 Sq. Ft. @$ 20.90 = 9,133 Average Oual o. A-19 Total Estimated Cost-New =5 140.524 x109% $58.39 + $2.53 (fl coy) + $1.51 (CAC) • Less Physical Functional External 153,171 (M/S) _ $62.43 Depreciation 26.039 1.532 =5 27.571 Rem Econ Life: 60-65 yrs Depreciated Value of Improvements -s 125.600 "As-is"Value of Site Improvements —s 9.500 INDICATED VALUE BY COST APPROACH Rounded =$___115,1_0_ ITEM I SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3 1166 25th Av 1951 24th Av 1808 28th Av 1432 32nd Av Address Greeley, CO Proximity to Subject 9 blks SE 10 blks SW 10 blks SW Sales Price s Refi 1$ 179.900 I$ 169.000 1$ 755.000 Price/Gross Liv.Area S 0 $ 128.13 01 $ 100.00 MI $ 109.62 01 Data and/or CtyRec MLS #360847 MLS #362762 MLS #356830 Verification Sources Insp Listing age tSellinga tListinge t VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) Adjustment DESCRIPTION +H Adjustment DESCRIPTION +(-)Adjustment Sales or Financing Cony Cash Cony Concessions no s1 ots no sl pts no sl pts Date ofSale/Time 3/1/3DOM45 3/7/3 DOM40 1/2/3DOM35 Location NWC/Westvw SWC/Ro11H1 no adj SWC/Ro11H1 no adj NWC/Sherwd no adj Leasehold/Fee Simple Fee Simple Fee simple Fee simple Fee simple Site 9500est 10374sf no adj 9000est 7700sf no adj View Typical res Typical Typical Typical Design and Appeal 1-st 1-st 1-st 1-st Quality of Construction Br/A Br,Sdg/A no adj Br/A no adj Br.Sdg/A no adt Age 40 yrs 39 32 no adt 36 no adj r!s Condition Avq-G Avq-G Avg-G A-F/ndCpt.P 4.500 Above Grade Total Bdrms Baths Total Bdrms Baths lute) Bdrms Baths 'Total Bdrms Baths Room Count 6 3 1.75 6 3 1.75 6 3 1.75 5 2 1 5,000 1.5981.404 3.000 1.690 -1.500 1.414 3.000 Gross Living Area Sq. Ft. Sq. Ft. Sq. Ft. Sq. Ft. • Basement & Finished 1,598 1,404 1,270 1,500 1,414 Rooms Below Grade F.B,D,ba FR.BRs4ba.L no adj RR only 3.500 RR.B.ba,L no adj. Functional Utility - ,.e • e .•e Av-r••e Ave ••e • Heating/Cooling FA/Central GFA/none 1.000 GFA/Central GFA/Central Energy Efficient Items Misc Misc .Misc Misc N Garage/Carport 2—car att 2—car att 2—car att 2—rar att Porch, Patio, Deck, Pat,CovPor CovPat,Dk —2,500 EnclPorch -1,000 Patio no adj Fireplace(s),etc. None Fireplaces -2,000 FP -J,_00. FP -1,000 Fence, Pool,etc. Spk,Fn.Shed Spk.Fn no add. Spk Fn Shop no adj] Spk.Fn,Shed :.. �_.. .- - 5I ;..1 A•!- Net.Adj. (total) + X - $ -3.000 X + - $ 1.500 X + - $ 11.500 Adjusted Sales Price G: 6.11% G: 5.03% G: 8.71% of Comparable N: 1.67% $ 176.900 N: .89% $ 170.500 N: 7.42% $ 166.500 Comments on Sales Comparison(including the subject property's compatibility to the neighborhood,etc.): Sales 1 & 2 are considered the best comps, as they share the same amenities as the subj--size. baths. etc. They are in the adjacent & competing SW Central nhbrd. Sale 3 is considered inferior to the subj . as it has less BRs and no second bath on the main floor. ITEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3 Date,PriceandDala 12/3/1998 8/2001 n/a n/a Source for prior sales $166,700 within year of appraisal Public Rec Public Records Public Records Public Records Analysis of any current agreement of sale,option, or listing of the subject property and analysis of any prior sales of subject and comparables within one year of the date of appraisal: Refinance: no listing in past 36 months. INDICATED VALUE BY SALES COMPARISON APPROACH $ 172.000 INDICATED VALUE BY INCOME APPROACH (If Applicable) Estimated Market Rent $ 1,050 /Mo. x Gross Rent Multiplier 150 =s 157,500 The appraisal is made "as is" subject to the repairs, alterations, inspections.or conditions listed belown subject to completion per plans and specifications. Conditions of Appraisal:No conditions except those cited in Limiting Conditions and Certification. This is a summary appraisal report. Final Reconciliation: Sales comparison given most consideration as it most accurate y s ti. v. u- • ' : ote a•. •, , cited .s • 's . or- ' s _ -d as •• rental: cost approach supports market value, The purpose of this appraisal is to estimate the market value of the real property that is the subject of this report, based on the above conditions and the certification, -a contingent and limiting conditions, and market value definition that are stated in the attached Freddie Mac Form 439/Fannie Mae Form 10046(Revised I. I(WE)ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF June 17, 2003 e (WHICH IS THE DATE OF INSPECTION AND THE EFFF"TIVE DATE OF THIS REPORT)TO BE S—172.000 . Certified Residential Appra er APPRAISER:: SUPERVISORY APPRAISER(ONLY IF REQUIRED(: �1•,t Signature �.)a-e a Signature Did n Did Not Name Carol S. Hayden. RA Name 970-352-5746 Inspect Property Date Report Signed June 17. 2003 Date Report Signed State Certification# CR01313618 State C() State Certification# State Or State License # State Or State License # State Freddie Mac Form 10 6-93 This form was reproduced by United Systems Software Company 18001 969-8721-Pape 2 Fannie Mae Form 1004 6.93 Carol S. Hayden, SRA North Central r SINGLE FAMILY COMPARABLE RENT SCHEDULET—WV2 This form is intended to provide the appraiser with a familiar format to estimate the market rent of the subject property. Adjustments should be made only for items of significant difference between the comparables and the subject property. ITEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3 Address 1166 25 Av 309 53 Av 210 53 Av 3302 25 St Greeley Greeley Greeley Greeley_ Proximity to Subject 3 mi NW 3 mi NW 1.75 mi SW Date Lease Begins 1998,,.,..,....... 9/02 8/02 5/99 Date Lease Expires 3/1/4 4/03 8/03 mo to mo Monthly Rental If Currently Rented:S 1,000 s 1,250 s 1,350 s 950 Less:Utilities Furniture S S S n/a s n/a Adjusted Monthly Real $ 1,000 $ 1,250 s 1,350 $ 950 Data Source Owner Owner Owner Owner Insp Assessor Assessor Insp RENT ADJUSTMENTS DESCRIPTION DESCRIPTION 41-IS Adjustment DESCRIPTION +1-1S Adjustment DESCRIPTION •(-)S AdLustment Rent None None None Concessions LocationNiew North Cent Kelly F/sup —75 Kelly F/Sup -75 Westlake no adj Resi Resi Resi Resi Design and Appeal 1-st 1-st 1-st 1-st Good-A Good -10 Good -10 Avg Age/Condition 40 3 -50 2 -50 19 no adj Good-A Good -10 Good -10 Avg—G no adj Above ar fide Total I Bdrms j Baths Total Bdrms i Baths Total Bdrm, `: Bathe i Total Bdrms Baths Room Count 6 3 11.75 6 3 '2 6 3 2 6 j 3 1.75 Gross Living Ate. 1,598 Sq.FI. 1,480sq.Ft. no adj 1,361Sq,Ft,, no adj 1,105sq.Ft. 50 other 1598/bsmt 1480 no adj 1340 no adj 1105 (e.g.,basement,etc) FR,BR,ba Unf in 25 F,Bs,b/Sup _ —75 fin bsmt no adj Other: Appl,Yd,Shd Appl,misc Appl,misc no adj Appl,Pat 2-car gar 2-car att 2-car gar 2-car att Net Adj.(total] n + (X( . s -120 1-1 + n. $ -220 n . FT $ 50 Indicated Monthly Market Rent $ 1,130 $ 1,130 $ 1,000 Comments on market data,including the range of rents for tingle family properties,an estimate of vacancy for single family rental properties,the general trend of rents and vacancy,end support for the above adjustments. 'Rent concessions should be adjusted to the market,not to the subject property.] These rentals were all purchased to be single family rental properties; none is a rental under duress. Rental Comps 1 & 2 are superior--in a newer, more homogeneous residential nhbrd, in superior condition, & with superior bsmt finish. Comp 3 is most similar, but with long term renters and the owner does not want to raise the rent, although it is under market. Data indicate that the mkt rent is in the mid $1000's. Rentals such as the subj are highy marketable; subj is in a low density zoning, with mostly owners in the area, as well as having the amenities the mkt wants--2-car* Final Reconciliation of Market Rent: *garage, some bsmt finish, nice yard. Using data from appraiser's files, a GRM of 150 is indicated. I(WEI ESTIMATE THE MONTHLY MARKET RENT OF THE SUBJECT AS OF MMARKET RENT OFF THE SUBJECT AS OF June 17 19 03 TO BE S 1,050 Apprsiser(a) SIGNATURE l L!l/ CJ Review Appraiser SIGNATURE . (If applicable) NAME Carol S. Hayden, SRA NAME Freddie Mac Form 1000(8/881 Fannie Mae Form 1007(B/Be) Carol S. Hayden, SRA OI-NWC Operating Income Statement One- to Four-Family Investment Property and Two- to Four-Family Owner-Occupied Property Property Address 1166 25 Av Greeley CO 80634 Street City State Zip Code General Instructions: This form is to be prepared jointly by the loan applicant, the appraiser, and the lender's underwriter. The applicant must complete the following schedule indicating each unit's rental status, lease expiration date, current rent, market rent, and the responsibilty for utility expenses. Rental figures must be based on the rent for an "unfurnished" unit. Currently Expiration Current Rent Market Rent Paid Paid Rented Date Per Month Per Month Utility Expenses By Owner By Tenant Unit No. 1 Yes X No 3/1/4 $ 1,000 $ 1,050 Electricity Unit No. 2 Yes No S S Gas Unit No. 3 Yes No S $ Fuel Oil O Li Unit No. 4 Yes No S $ Fuel (Other) 0 C Total $ 1,000 s 1,050 Water/Sewer �1 Trash Removal ...... The applicant should complete all of the income and expense projections and for existing properties provide actual year-end operating statements for the past two years (for new properties, the applicant's projected income and expenses must be provided). This Operating Income Statement, and any previous operating statements the applicant provides, must then be sent to the appraiser for review, comment, and/or adjustments next to the applicant's figures (e.g., Applicant/Appraiser 288/3001. If the appraiser is retained to complete the form instead of the applicant, the lender must provide to the appraiser the aforementioned operating statements, mortgage insurance premium, HOA dues, leasehold payments, subordinate financing, and/or any other relevant information as to the income and expenses of the subject property received from the applicant to substantiate the projections. The underwriter should carefully review the applicant's/appraiser's projections and the appraiser's comments concerning those projections. The underwriter should make any final adjustments that are necessary to more accurately reflect any income or expense items that appear unreasonable for the market. (Real estate taxes and insurance on these types of properties are included in PITT and not calculated as an annual expense item.) Income should be based on current rents, but should not exceed market rents. When there are no current rents because the property is proposed, new, or currently vacant, market rents should be used. Annual Income and Expense Projection for Next 12 Months Adjustments by Income(Do not include income for owner-occupied units) By Applicant/Appraiser Lender's Underwriter Gross Annual Rental (from unit(s)to be rented) S 12,000 S Other Income (include sources) + + Total $ 12.000 S Less Vacancy/Rent Loss - 360 1 3%) - ( %) Effective Gross Income S 11,640 S Expenses (Do not include expenses for owner-occupied units) Electricity Gas Fuel Oil Fuel (Type- Water/Sewer Trash Removal Pest Control Other Taxes or Licenses Casual Labor 100 This includes the costs for public area cleaning, snow removal, etc., even though the applicant may not elect to contract for such services. Interior Paint/Decorating 200 This includes the costs of contract labor and materials that ere required to maintain the interiors of the living units. General Repairs/Maintenance 100 This includes the costs of contract labor and materials that are required to maintain the public corridors, stairways, roofs, mechanical systems, grounds, etc. Management Expenses 360 These are the customary expenses that a professional management company would charge to manage the property. Supplies This includes the costs of items like light bulbs, janitorial supplies, etc. Total Replacement Reserves - See Schedule on Pg. 2 773.67 Miscellaneous • Total Operating Expenses $ 1,533.67 s Freddie Mac This Form was produced by United Sy''ems Software Corporation.Mesa.Arizona 1602).892-7974 Fannie Mae Form 998 Aug 88 Form 216 Aug 98 Page 1 of 2 Carol S. Hayden, SRA OI—NWC Replacement Reserve Schedule Adequate replacement reserves must be calculated regardless of whether actual reserves are provided for on the owner's operating statements or are customary in the local market. This represents the total average yearly reserves. Generally, all equipment and components that have a remaining life of more then one year -- such es refrigerators, stoves, clothes washers/dryers, trash compactors, furnaces, roofs, and carpeting, etc. -- should be expensed on a replacement cost basis. Equipment Replacement Remaining By Applicant/ Lender Cost Life Appraiser Adjustments Stoves/Ranges @ $ 400 ea.-- 15 Yrs. X 1 Units = 9 26.67 $ Refrigerators ...... . .. @ $ 800 ea.= 15 Yrs. X 1 Units = $ 53.33 $ Dishwashers @ S 500 ea.-- 10 Yrs. X 1 Units = S 50.00 $ A/C Units @ $ 1,500 ea.-- 15 Yrs. X 1 Units = $ 100.00 $ C. Washer/Dryers @ $ ea.= Yrs. X Units = $ 9 HW Heaters @ $ 350 ea.= 10 Yrs. X 1 Units = $ 35.00 $ Furnace(s) @ $ 1,500 ea.+ 20 Yrs. X 1 Units = $ 75.00 S (Other) @ S ea. Yrs. X Units = $ S Roof @ $ 2,500 ea.= 15 Yrs. X One Bldg. = $ 166.67 S Remaining Carpeting (Wall to Wall) Life (Units) 178 Total Sq. Yds. @ $ 15 Per Sq. Yd. _ 10 Yrs. _ $ 267.00 $ (Public Areas) Total Sq. Yds. @ $ Per Sq. Yd. — Yrs. = $ $ Total Replacement Reserves. (Enter on Pg. 1) $ 773.67 S Operating Income Reconciliation S 11,640 - S 1,533.67 - $ 10,106.33 + 12 = 5 842.19 Effective Gross Income Total Operating Expenses Operating income Monthly Operating Income $ 842.19 — $ Unknown = $ 842.19 Monthly Operating Income Monthly Housing Expense Net Cash Flow (Note: Monthly Housing Expense includes principal and interest on the mortgage, hazard insurance premiums, real estate taxes, mortgage insurance premiums, HOA dues, leasehold payments, and subordinate financing payments.) Underwriter's instructions for 2-4 Family Owner-Occupied Properties • If Monthly Operating Income is a positive number, enter as "Net Rental Income" in the "Gross Monthly Income" section of Freddie Mac Form 65/Fannie Mae Form 1003. If Monthly Operating Income is a negative number, it must be included as a liability for qualification purposes. • The borrower's monthly housing expense-to-income ratio must be calculated by comparing the total Monthly Housing Expense for the subject property to the borrower's stable monthly income. Underwriter's instructions for 1-4 Family Investment Properties • If Net Cash Flow is a positive number, enter as "Net Rental Income" in the "Gross Monthly Income" section of Freddie Mac Form 85/Fannie Mae Form 1003. If Net Cash Flow is a negative number, it must be included as a liability for qualification purposes. • The borrower's monthly housing expense-to-income ratio must be calculated by comparing the total monthly housing expense for the borrower's primary residence to the borrower's stable monthly income. Appraiser's Comments (Including sources for data and rationale for the projections) A very marketable rental, in a predominantly owner-occupied neighborhood with the amenities the typical renter wants. Carol S. Hayden, SRA C ci -c'V June 17, 2003 Appraiser Name Appraiser Signature Date Underwriter's Comments and Rationale for Adjustments Underwriter Name Underwriter Signature Date Freddie Mac This Form was p" -d by United Systems Software Corporation,Mesa,Ariaon& 16021.692-7976 Femme Mn Form 998 Aug 88 Form 216 Aug 88 Page 2 of 2 SUBJECT PHOTO ADDENDUM Borrower/Client BRINKMAN,Ronald F Address 1166 25th Av City Greeley County Weld State CO Zip Code 80631 Lender/Client Waterfield Financial Corp Front View r . • • ter.,...— O%.x, ,y, ${ry,r +��Cn Rear View y• • X04 Y� "`kt a ✓ Y- I S S t .�_ Street View � a rrs r tn ��5� '3Y.+ �a „ feaF Jv7 �?py t � (at l .. f — ✓nn .dome ennwa,n rmm�onv nnm QroA]9] SUBJECT PHOTO ADDENDUM Borrower/Client BRINKMAN,Ronald F Address 1166 25th Ay City Greeley County Weld State CO Zip Code 80631 Lender/Client Waterfield Financial Corp Rear View-2 e '* ,3„3&.:V* • Y' �7 3» �n4441: j r � T4 n Shed • • • • • • �'a• as • • , " Fa .. ,, 7 Street View '''fa‘{x. y. 4. S r• , sr111' r--- , a l ' 4 r. t • rm�m.�u.��.a,,.,,m„m H,F F,!H,l C, (''F CFfH, ,>remnono rnnmQ Qfl r COMPARABLE PHOTO ADDENDUM Borrower/Ciient BRINKMAN,Ronald F ...— Address 1166 25th Av City Greeley County Weld State CO Zip Code 80631 Lender/Client Waterfield Financial Corp �� •#, ..... ;1. .u: Sales Comparable 1 .L• _,,' Front View Address: 1951 24th Av 1. Sales Price: 179900 • , •,,, '" r Date of Sale: 3/1/3DOM45 ` • ' .` GLA: 1404 Rooms: 6 Bedrooms: 3 f Bathrooms: 1.75 -ti l -• t Y °»rlyd T. i.,44*,'',.,-,.,,;•'. C-•,,,'nt ,.,,ti'r,?1 FtZt' —.7".• !—:',"3.2.`',""5,7'7,- ,. ,', 1,- J,d�°35,,r') ,,,,,,,,•:‘}4' F 0 ky� y ]� vy rl'tay, ii,,.7ei�•.-. t,4� ..' ,,ir: . • Sales Comparable 2 lc,- ...r=... , • , , ..- Front View ;t'r'.- ~•t -.*;„4 • , ' • 1808 28th Av '�• Address: ••t'r•:'' 6"' .-. 4' 4llaii Sales Price: 169000 t'r Date of Sale: 3/7/3 DOM40 GLA: 1690 .••••-_. Rooms: 6 Bedrooms: 3 • — Bathrooms: 1.75 twice'*"" ..M---:,.-- - • 1 .y l,lti•" Sales Comparable 3 .6 . ,'�lt;.1 <i : Front View tii.f .. #. . : ` 1432 32nd Av 4, i.1 ; • Address: •. ti'# x Sales Price: 155000 ''°y:440' t =1 � Date of Sale: 1/2/3DOM35 j •• ' it 1:01-‘ GLA: :' 1414 •j .-4 Rooms: 5 ' • Bedrooms: 2 Bathrooms: 1 A.,-., • + 1 ' • this fry'',wac rnnrnrl,iroil Iry 1 lnilnrl cvclnrrt,`nrlwnr.Cmmonnv IRON OAOR777 COMPARABLE PHOTO ADDENDUM Borrower/Client BRINKMAN, Ronald F Address 1166 25th Av City Greeley County Weld State CO Zip Code 80631 Lender/Client Waterfield Financial Corp �� Ls+e��s Comparablef / Front View Address: 309 53rd Av Sales Price: Date of Sale: GLA: Rooms: ' it II Bedrooms: ` Bathrooms: I • • .11#:C;V:` ft I t Till .?` 7,. ^ - L:< Comparable 9 '" x'y: Front View f ° •q+' Address: 210 53rd Av s, .t,1„ Sales Price: Mitt 1/4. Date of Sale: Rooms: % W Bedrooms: Bathrooms: yA'r ¢ '4 Comparable 4 V t Front View ., " • 1•00••' 4' ;+I�>, • • ` Address: 3302 25th St 4 *tip ~-"., `., ,. ` ,•l: i ft.,h'rr .. ^ . Sales Price: T, .1 3it ( V• + • 1 •, Date of Sale: Jl114 GLA: Si 14k Rooms: Bedrooms: r„• Bathrooms: TTic 1^rm w�c ronrn.l!I�rrl hr I lnilnrl c .,lrmc Cn llw�.n fmm�nnv /Rlllll QI Q.R]J7 SKETCH/AREA TABLE ADDENDUM Property Address 1166 25 AV L) City Greeley County Weld Slate CO Zip 80634 m Borrower BRINKMAN co • Lender/Client Waterfield Financial L/C Address 44 Union Blvd#200,Lakewood,CO 80228 Appraiser Name Carol S.Hayden Appr Address PO Box 1084,Greeley,CO 80632 PATIO 10.3• 643' 58 e4 C BR OIBR DR K BA ---.. 169' J40 BA I LR 2 CAR 19.0' BR GARAGE 2 u C 46 CP I 23b N N I- 2 W 5 643' ce Q a FR 15 IT I F I. .. 0' 2]a BA —_1 I. I D UNFIN 131 C • BR 257 C ea 161 Comments: Scale: 12.20 AREA CALCULATIONS SUMMARY LIVING AREA BREAKDOWN Code Description Size Net Totals Breakdown Subtotals G1A1 First Floor 1598.00 1598.00 First Floor BSMT Basement 1598.00 i 1598.00 28.0 x 41.3 1156.40 GAR Garage 437.00 437.00 6.0 x 16.1 96.60 OTH Storage Shed 86.52 86.52 15.0 x 23.0 345.00 N 2 O I- 5 -J J Q QU et K Q TOTAL LIVABLE (rounded) l 1598 3 Calculations Total (rounded), 1598 MJMMnwn APEX SOFT WPPE 800450 9956 pyglpp-w Apea LOCATION MAP • Borrower/Client BRINKMAN, Ronald F Address 1166 25th Av City Greeley County Weld State CO Zip Code 80631 Lander/Client Waterfield Financial Corp so- . "a \ . .. . . ,L e±s: 4g: ¢ ,� 4 ri y t t w - o i.vw µs irons. C `: 5 .I . t rr . P4.6, 4. shpt w 44,, ASr W 'I K4_ : F > r= Sr� . t sr k T 4 tar a Sr 'ws sr @ 0.s • c F: y z x x is $ 1 o"wn" n ar. ,r,.. ,� t t .sr ": wt I 'sr +IT Of; ., luY sot. w Sr tr arr` E Pc. f fr ,;r ar , rot St so 4 t C xI. 4 w ,wo , 3 Rental 2 r' c w IF pt S. 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Hayden, SRA File No. NWC1-116 DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he 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 normal consideration for the property sold unaffected by special or creative financing or sales concessions' granted by anyone associated with the sale. 'Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession, but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgement. STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to 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 data 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, expressed 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. 5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and the improvements at their 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 so used. 6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, 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 normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions (including the presence of hazardous wastes, toxic 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, expressed 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 be considered as an environmental assessment of the property. 7. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such 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 Professional Appraisal Practice. 9. 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 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/client specified in the appraisal report can distribute the appraisal report (including conclusions about the property value, the appraiser's identity and professional designations, and references to any professional appraisal organizations or the firm with which the appraiser is associated) to anyone other than the borrower; the mortgagee or its successors and assigns; the mortgage insurer; consultants; professional appraisal organizations; any state or federally approved financial institution; or any department, agency, or instrumentality of the United States or any state or the District of Columbia; except that the lender/client may distribute the property description section of the report only to data collection or reporting servicels) without having to obtain the appraiser's prior written consent. The appraiser's written consent and approval must also be obtained before 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 10048 6-93 This form wee reproduced by United Systems Software Company W00)9694727 WF 146-03/Summary Report Carol S. Hayden, SRA File No. NWC1-116 • APPRAISER'S 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 a comparable property is inferior to, or less favorable than the subject property, I have made a positive adjustment to increase the adjusted sales price of the comparable. 2. I have taken into consideration the factors that have an 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 my knowledge, that all statements and information in the appraisal report are true and correct. 3. I stated, in the appraisal report, only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject 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 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 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 my 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 receive my compensation and/or employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation, a specific valuation, or the need to approve a specific mortgage loan. 7. I performed this appraisal in conformity 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 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 consistent with the marketing time noted in the neighborhood section of this report, unless I have otherwise stated in the reconciliation 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 the 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 commented 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 relied on significant professional assistance from any individual or individuals in the performance of the appraisal or the preparation of the appraisal report, I have named such individualls) and disclosed the specific tasks performed by them in the reconciliation section of 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 the report; therefore, if an unauthorized change is made to the appraisal report, I will take no responsibility for it. This appraisal report has been prepared in conformity with the requirements of the Code of Ethics & the Standards of Professional Appraisal Practice of the Appraisal Institute. It is prepared for the sole & exclusive use of the appraiser's client, Waterfield Financ. No third parties are authorized to rely upon this report without the express written consent of the appraiser. I have completed the continuing education program of the Appr. Institute. SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies 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 for the appraisal and the appraisal report. ADDRESS OF PROPERTY APPRAISED: 1166 25th Av. Greeley. CO 80631 APPRAISER: SUPERVISORY APPRAISER(only if required): Signature: Ca Signature: Name: Carol S. Hayden. S� Name: 970-352-5746 Date Signed: June 17. 2003 Date Signed: State Certification #: CR01313618 State Certification #: or State License #: or State License #: State: CO State: Expiration Date of Certification or License: 12/31 /')3 Expiration Date of Certification or License: n Did Did Not Inspect Property Freddie Mac Form 439 6-93 Page 2 of 2 Fannie Mae Form 1004B 6-93 This form wee reproduced by United Systems Software Company WOO)989-8727 • CAROL S. HAYDEN C(1.BOX 101)4•GRFF.I.vy,CO X11632• I'I IONI:/FAX(9711)352-5252 Comments On Limiting Conditions And Certification As Required By USPAP I certify that,to the best of my knowledge and belief: -the statements of fact contained in this report are true and correct. -the reported analyses,opinions,and conclusions are limited only by the reported assumptions and limiting conditions,and are my personal,impartial,and unbiased professional analyses,opinions,and conclusions. I have no present or prospective interest in the property that is the subject of this report,and no personal interest with respect to the parties involved. -I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. - my engagement in this assignment was not contingent upon developing or reporting predetermined results. my compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result,or the occurrence of a subsequent event directly related to the intended use of this appraisal. - my analyses,opinions,and conclusions were developed,and this report has been prepared,in conformity with the Uniform Standards of Professional Appraisal Practice. - I have made a personal inspection of the property that is the subject of this report. • The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. It has been prepared in conformity with the requirements of the Code of Ethics and the Standards of Professional Appraisal Practice of the Appraisal Institute. As of the date of this report,I,Carol S. Hayden,have completed the requirements under the continuing education program of the State of Colorado. This appraisal has been prepared for the client named on the report. The purpose of the appraisal is for obtaining a mrtgage. This appraisal may not be used or relied upon by anyone other than the client, for any purpose whatsoever, without the express written consent of the appraiser. Neither all,nor any part of the contents of the report,or copy thereof shall he used for any purposes by anyone but the client specified in the report, the borrower if appraisal fee paid by same,the mortgagee or its successors or assigns, without the previous written consent of the appraiser. i ♦ CAROL S. HAYDEN I'.O_IRON 1100•GItI(I I,I y,(:() 80652• PI IONE/FAN(970)352-5252 PROFESSIONAL EXPERIENCE 1985-present Fee Appraiser 1994-present Approved FHA Appraiser 1986-1990 FHA Fee Panel Appraiser 1990-1992 StalT Appraiser, Fl IA,Conventional, Margaretten and Co. 1976-1985 Broker/Owner, CENTURY 21 Campbell & Associates, Inc. 1972-1976 Real Estate Sales Associate, Greeley,CO 1977-1986 Instructor, Real Estate Practices and Law, Appraisal; Aims Community College, University of Colorado Extension Program,Colorado Slate University EDUCATION A.B., Wheaton College; M.A. Michigan State University Professional Courses including Real Estate Appraisal Principles, Residential Valuation, Case Studies, Standards of Professional Practice, Advance Residential Report Writing, (Appraisal Institute); Appraisal Courses(University of Colorado); and various seminars. Completed over 150 hrs of class work from 1995- 2001. PROFESSIONAL ACTIVITIES 1990-2000 SRA,The Appraisal Institute, certified to 12/31/03 (Retired status as of 2001) 1986-1990 Candidate, Residential Member(RM), American Institute of Real Estate Appraisers, Colorado Chapter 1122 1984-1986 Trustee,Colorado Association of REALTORS Education Foundation Realtor of the Year,Greeley Board of REALTORS 1972-1986 Member,National Association of REALTORS Colorado Association of REALTORS Greeley Board of REALTORS;served in various offices including Director and President of the Greeley Board, Director and District Vice President of Colorado Association of REALTORS. PERSONAL ACTIVITIES 1995-present Director, Pine Ridge Condo Association& Rentals, Inc. Breckenridge,CO • i101-dui!.F-->:v . '�k :.d :r: ,,-.../ ifir- `�L', �`allit b�'., '�i ` 1 : -.-v'.'...g .. _..��°'"; ' i � �. ati itz of (Lntnr tbn Expires Not Transferable Number C ,0,: 2, 18 %�'1L�LL of L LEN December thirty-first - - - - DEPARTMENT OF REGULATORY AGENCIES SID F CO/,O `y3/ 60 9 ` d,: l7 9781 ig� -tr, This is to certify tha he person shown bel.• ias been du enrolled as own above the St Of-Color. _for the:eaiendar ?eattt(s) 2 through 7, :„7 c as provided for the Laws of orado. E. Tres Decem r thirty i • - _ r- Autho ea oy the Board of Real Estat Appraisers. WITNESS by my hand a official seal at Denver. Col do this -- day till CAR i' ti YI)EN - of 7:.., , ,_ ^n+ 1703 1 ..L 121 I a IC I .a: GRE LEY, C❑ E30620 Proem Administrator ,g, DP 60,,,,,w,,,,,,,, war:`,°' ' ' acorn, ....7.....,,,......„7.-7.,,„:„.... tit CLERK TO THE BOARD PHONE (970) 356-4000 EXT 42t7 FAX: (303) 352-0242 WEBSITE: www.co.weld.co.us 1111De 915 10TH STREET P.O. BOX 758 GREELEY, COLORADO 80632 COLORADO July 16, 2003 BRINKMAN RONALD F 131851 AVE CT GREELEY CO 80634-2119 Parcel No.: 095912105013 Account No.: R2133986 Dear Petitioner(s): The Weld County Board of Equalization has set a date ofJuly24,2003,at or about the hour of 9:30 AM, 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, 2003. 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. BRINKMAN RONALD F - R2133986 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 O EQUALIZATION • Carol A. Harding Deputy Clerk to the Board cc: Stanley Sessions, Assessor Hello