HomeMy WebLinkAbout981369.tiff RESOLUTION
RE: THE BOARD OF EQUALIZATION, 1998, WELD COUNTY, COLORADO -STIPULATE
VALUE
PETITION OF:
WORTHLEY RANDALL W
1322 16TH AV
GREELEY, CO 80631
DESCRIPTION OF PROPERTY: PIN: R3063686 PARCEL: 096107115006 - GR 2996
L14BLK4 MTN VIEW%1322 16TH VE% SUB:MOUNTAIN VIEW ADD BLK:4 OT:14
SECT,TWN,RNG:07-05-65 ITUS: 1322 16 AV 001 GREELEY 0000 BK:1166 PARCEL:
096107115006
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 1998, 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 1998, claiming that the property described in such petition was assessed
too high, as more specifically stated in said petition, and
WHEREAS, in lieu of the hearing scheduled before the Board of Equalization, a
Stipulation was agreed upon by the Assessor and said petitioner(s), and
WHEREAS, the petitioner(s) and the Weld County Assessor agree that the assessment
and valuation of the Weld County Assessor shall be, and hereby is, stipulated as follows:
ACTUAL VALUE
AS DETERMINED ACTUAL VALUE
BY ASSESSOR AS STIPULATED
Land $ 21,375 $ 21,375
Improvements OR
Personal Property 85.755 62.753
TOTAL ACTUAL VALUE $ 107.130 $ 84.128
981369
AS0040
pc , P
RE: BOE - WORTHLEY RANDALL W
Page 2
WHEREAS, said Stipulation shall resolve all issues to have been determined by the Weld
County Board of Equalization.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, acting as the Board of Equalization, that the Stipulation agreed to by the Weld County
Assessor and the above-named petitioner(s) be, and hereby is, accepted by the Board.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 4th day of August, A.D., 1998.
BOARD OF COUNTY COMMISSIONERS
WE COUNTY, COLORADO
ATTEST: �► — � ot I2Y u-,
1 ►Jf-;r Constance L H bert, Chair ��
�
Weld Cou ty C - � ,�� % .!�-
W. ebster, Pro-Tem
B :
D-puty Cle p
l�1 r eorg . Baxter
APPROVED AS TO FORM:
Dale K. Hall
P � .�
A s slant unty Attorne EXCUSED
Barbara J. Kirkmeyer
981369
AS0040
1998
COUNTY BOARD OF EQUALIZATION
WELD COUNTY / (
ASSESSOR ' S PIN NUMBER :0 CDCoS(-O
STIPULATION (As To Tax Year Iqq?_) Actual Value)
RE PETITION OF (�
NAME : 1≥.RinAL L 11.E U.SC>f K L fig
ADDRESS : &C t, (�/�caa V'
p1 `?Q . ('O Th(e,_ l
Petitioner (s) , I≥HIUbAL.L U3Ok,jy-{L,) and the
Weld County Assessor, hereby enter into this Stipulation regarding
the tax year (One) valuation of the subject property, and jointly
move that the Board of Equalization to enter its order based on
this Stipulation.
Petitioner (s) and the Assessor agree and stipulate as follows :
1 . The property subject to this Stipulation is described as :
N[Z- LQgip Lt4 13uc q tc' x\ 01N-id
`O 13 Z.i_. IL, ROE
2 . The subject property is classified as 21lDFrft
property (what type) .
3 . The County Assessor originally assigned the following
actual value to the subject property for tax year ICQPy
Land $
Improvements $ SS '5 S
Total $ 1O--1 I3r)
4 . After further review and negotiation, the petitioner (s)
and Weld County Assessor agree to the following tax year
actual value for the subject property.
Land $ Z1, 37
Improvements $
Total $
981369
5 . The valuations, as e a,. llished above, shall be binding
only with respect to tax year 9 .
6 . Brief na rative s to why the reduction was made :
APPI?t i RL mC�l-l-iN , Qn st6 ly trA) me b
(` �� Su‘(ur� pi1t�N aF
7 . Both parties agree that the hearing scheduled before the
Board of Equalization on e - 3-CieS (date) at
I:op Pm (time) be vacated; or, a hearing has not yet been
scheduled before the Board of Equalization (check if
appropriate) . 7/�
DATED this LCI day of sa , MBtPe itioner (s) or A orney Petitioner (s) or Attorney
Address : Address :
/ayi 4i2 ea z`
Telephone : SC/-B7B2 Telephone :
Nacif n -4e/lam 241;"County As essor
Address :
1400 North 17th Avenue
Greeley, CO 80631
Telephone : (303) 353-3845 ext . 3656
991369
,
d,
_ CLERK TO THE BOARD
PHONE (970) 356-4000 EXT.4225
FAX: (970) 352-0242
915 10TH STREET
P.O. BOX 758
C. GREELEY, COLORADO 80632
WI I p
COLORADO
July 21, 1998
Parcel No.:096107115006 PIN No.: R3063686
RANDALL W WORTHLEY
1322 16TH AVE
GREELEY CO 80631
Dear Petitioner(s):
The Weld County Board of Equalization has set a date of Monday, August 3, 1998, at or about the
hour of 1:00 p.m. to hold a hearing on your valuation for assessment. This hearing will be held at
the Weld County Centennial Center, 915 10th Street, Greeley, Colorado, in the First Floor Hearing
Room. A number of hearings have been scheduled at this time; petitioners will be asked to sign in
with the Clerk upon arrival, and cases will be heard on a first come /first heard basis.
You have a right to attend this hearing and present evidence to the Board in support of your
petition. The Weld County Assessor or his representative will be present. The Board will make its
decision on the basis of the record made at said 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, 1998,
and mailed to you on or before August 10, 1998.
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.
At least two (2)working days prior to your hearing the Assessor will have available, at your request,
the data supporting his valuation of your property.
981369
RANDALL WORTHLEY - R3063686
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
DonaldLieldWarden,
Clerk to the Board
BY: 1-),11/ '?�P'a( ,'i C', 'GCe,
Kimberlee A. Schuett
Deputy Clerk to the Board
cc: Warren Lasell, Assessor
931 '369
NOTICE OF ADJUSTMENT OFFICE OF COUNTY ASSESSOR
1400 NORTH 17th AVE.
GREELEY,CO 80631
(e.6.14„, AR %9$6 L1OUNT4 MTN VIEW 22BL 16TH PHONE(970)353-3845,EXT.3650
AVER S4 B SECT
TWNIN VIEW ADD BLK:4
LOT:14 SECT,TWN,RNG:07-05-65
SITUS: 1322 16 AV 001 GREELEY
C. 00000 BK:1166 PARCEL: 096107115006
COLORADO OWNER: WORTHLEY RANDALL W
WORTHLEY RANDALL W LOG 264
1322 16TH AV PARCEL 096107115006
ACCOUNT R3063686
GREELEY, CO 80631 YEAR 1998
06/26/1998
The appraisal 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 IS VALUED BY CONSIDERING THE MARKET APPROACH.
ALL OTHER PROPERTY, INCLUDING VACANT LAND, IS VALUED BY CONSIDERING
THE COST, MARKET, AND INCOME APPROACHES.
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
v aluation(s)assigned to your property. The reasons for this defemination of value are:
BASED ON A STUDY OF COMPARABLE PROPERTIES THAT SOLD FROM 1/1/95 TO 6/30/96 WE
HAVE ADJUSTED YOUR PROPERTY TO THE 1998 LEVEL OF VALUE AS SHOWN BELOW.
•
PETITIONER'S ASSESSOR'S VALUATION
PROPERTY CLASSIFICATION ESTIMATE
• OF VALUE ACTUAL VALUE ACTUAL VALUE
PRIOR TO REVIEW AFTER REVIEW
LAND 21375 21375
IMPS 85755 66528
$ 107130 $ 87903
TOTALS $
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(I)(a),C.R.S. Please see the back of this form for detailed information on filing your appeal.
06/26/1998
By: WARREN L.LASELL
WELD COUNTY ASSESSOR DATE
15-DPT-AR
Form PR-207-87/94 ADDITIONAL INFORMATION ON REVERSE SIDE 991369
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 you must appeal 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 EOUALIZATION'S DETERMINATION:
The County Board of Equalization must make a decision on your appeal and mail you a determination within five
business days. The County Board must conclude their hearings 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.
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., YOU MUST STATE YOUR OPINION OF VALUE IN TERMS OF A SPECIFIC DOLLAR
AMOUNT. Attach additional documents as necessary.
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JIUNA I URE UtPLMIUNER / UAIb 981.3^^
Borrower/Client worthley
1322 16th Ave.Property-Address
City Greeley Cowl Weld
State CO-___,_. _ Zip Code 80631
Lender Randall W. Worthley
TABLE OF CONTENTS
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'E'�A� M §xP�t �'�ra>�kl ry�r �y .t..44/1/411/4:.: ���" I :�r'' � 1' $q h, r•4 � �d �:q m 1�
ens ,1�i ' t .„,,..i.,,-J,,,,r r"rJ(` hR �3f O N: 6 r ,1/4,'.;1/4241/41/4:4='YP r.,. $w 1 . - 0.l a
{5 rV �� ��E' ‘M1 r� xd iWx IG� bra tf ��n ,�+
1
Services Invoice
Summary of Salient Features 2
URAR 3
Text Addendum 5
Subject Photos 6
Comparable Photos 1-3 7
Building Sketch 8
Location Map 9
Statement of Limiting Conditions 10
MuitkPurpose Supplemental Addendum 12
981369
Form TOCP—'TOTAL 2000 for Windows'apprasal software by a la mode,inc.—1-800-ALAMODE
SUMMARY OF SALIENT FEATURES
Subject Address 1322 16th Ave.
Legal Description Lot 14, Block 4, Mountain View Sub.
o City Greeley
rc County Weld
0
State co
m
Zip Code 806318063
Census Tract 4.02
Map Reference MSA 3060
w
aSale Price $
N
W
N Date of Sale Current
Borrower/Client Worthley
Lender Randall W. Worthley
Size(Square Feet) 828
Price per Square Foot $
E, Location Central Greeley
cc
a Age 77
0
o Condition Average
U,
Total Rooms 3
LU
0
Bedrooms 1
Baths 1
w Appraiser Bruce W. Willard
a
cc
a Date of Appraised Value 01-27-97
final Estimate of Value $ 81,000
981369
Form SSD—"TOTAL 2000 for Windows"appraisal software by a la mode,inc.—1-800-ALAMODE
Austin&Austin I Page#3i
Olmaplewd
Pro,-(Iv Description UNIFORM RESIDENTIAL APPRAISAL REPORT File No.
Properly Address 1322 16th Ave.,. Cti Greeley State CO Zip Code 80631
Legal Description Lot_ 14, Block _4_, Mountain view sub. County weld__
Assessor's Parcel No. .096107115006 _—. _ Tax Year 1996 R.E.Taxes$_591 96 Special-A_ssessments$0.00
i
c f Borrower Worthley Current Owner wort hley Occupant: X Owner I I Tenant I Vacant
w
m Property rights appraised X Fee Simple I Leasehold Project Type [ 1 PUD [ 1 Condominium(HUD/VA only) HOA$ /Mo.
_,
w Neighborhood or Project Name mountain view _ Map Reference NSA 3060 Census Tract 4.02
Sale Price $ Date of Sale Cur rent _- Description and$amount of loan charges/concessions to bepaid by seller None
Lender/Client Randall W. Worthley Address 1322 16th Ave., Greeley, CO 80631
-- ----. --_..
Appraiser Bruce w. Willard Address 918 13th Street, Greele CO 80631 _
Location X Urban LT Suburban [J_ Rural Predominant PSIIIglefamilyhoAGng Present land use% Land use chang e
Built up X Over 75% [ 25-75% [ RICE Under 25% occupancy $(000) (yrs) One family so Not likely (_j Likely
Growth rate I I Rapid X Stable [ I Slow X Owner 80 Low 30 2-4 family 10 _' r[ In process
Property values I I Increasing X Stable HI Declining I_[ Tenant 400 High 120 Multi-family__-10 .,_.To:
Demand/supply Shortage X In balance r ! supply X ( - )
9 X u Over su I I I Vacant o 5% Predominant Commercial 30
Marketing tim_e ] Under 3 mos. 3-6 mos. Over 6 mos. L
_ Li vat, 120_ Bo
Note: Race and the racial composition of the neighborhood are not appraisal factors.
Neighborhood boundaries and characteristics: 16th Street tothe south; 10th Street_-to the north; 8th Avenue to the east_-
0 23rd Avenue to the west.
oFactors that affect the marketability of the properties in the neighborhood(proximity to employment and amenities,employment stability,appeal to market,etc.):
¢o The downtown area of Greeley was once all residential, but over the years has been encroached upon by
commercial and multi family uses. Many of the downtown homes are large and stately, some converted to
o
w other uses. Subject is in a residential section now zoned two-family, acting as a buffer between
downtown and more single family_ areas_to the west. It is centrally located and close to one of the high
Greeley high schools. There is strong current demand for two-family properties.
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.):
The local market in general, and the market in the subject neighborhood specifically, has remained
stable over the past year, with little variation in prices. Demand and supply are in balance, with
competitively priced properties selling in a reasonable period. No financing concessions prevalent.
Interest rates are at a very attractive 8% to 9% presently.
Project Information for PUDs(If applicable)--Is the developer/builder in control of the Home Owners'Association(HOA)? [ _I Yes I- No
e
a 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:
Dimensions 50FF x 190 _-_ Topography Generally level
Site area 9, 500 Corner Lot Yes X No Size Typical_ _ -
Specific zoning classification and description R-2 Two-family Residential I Shape Rectangular
Zoning compliance Ni Legal 1 1 Legal nonconforming(Grandtathered use) f IIllegal j No zoning IDrainage Surface — adequate
Highest 8_best use as improved_ 'XI PreS ant_USe I II Other use(explain) I View Interior neighborhood
Utilities Public Other Off-site ImprovementsType Public Private Landscaping Sod shrubs, trees
IL-, Electricity X _- — —_ Street Asphalt — N ❑ Driveway Surface Gravel with conc. pads
' Gas X , Curb/gutter Concrete X H Apparent easements Typ.icalutility ,
P [_
Water X Sidewalk concrete X [--I I FEMA Special Flood Hazard Area Yes Xl No
Sanitary sewer X ___ Street lights Pole X [ FEMA Zone _c_ _ - . - Map Date 07_16 79__
Storm sewer X _- [Alley 20 rear _ -_ X [ I I FEMA Map No, creeley_ 080184 00028
Comments(apparent adverse easements,encroachments,special assessments,slide areas,illegal or legal nonconforming zoning use,etc.): Seed addenda
GENERAL DESCRIPTION 'EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION
No.of Units 1 Foundation Concrete (Slab 0% Area Sq.Ft 576 Roof Hdn N
No.of Stories 1 'Exterior Walls wood lap 'Crawl Space 20% %Finished 60% 'Ceiling Hdn X
Type(DeL/Aft.) Den {Roof Surface comp f Basement 70% Ceiling Tiles ,Walls Hdn X
Design(Style) Ranch I Gutters&Dwnspts. Metal Sump Pump None _ - _ Walls Panel Floor __.
Existing/Proposed exist in Window Type wood
g p g yp - {Dampness None observd Floor vin/Crpt None , :I
V2 Age(Yrs.) _-__.{Storm/Screens Screens 1Settlement Npipbseçy Outside Entry No —. Unknown —__ ,
EOOMS _ s.Foyer I Manufactured House No IIntestation None observd Typical
ypical
LI
Dinm Kitchen Den I Family Rm. Bedrooms # Baths I Laundry ! Other Area Sq. t.
Effective Age rs
_ Living Rec.Rm.
9 9 y—
a _Basement -... 1 _ ' 1 x 5�6
1 I i 1 - [ ---t 1 1 8 2 8
o Level 1, I -.
o eve --- 1 —1 I L [
a Finished area above grade contains: 3 Rooms; 1 Bedroom(s); 1 Bath(s); 828 Square Feet of Gross Living Area
FA INTERIOR Materials/Condition HEATING KITCHEN EQUIP. ATTIC AMENITIES CAR STORAGE:
o Floors wood/Fair-Avg. J Type F.A._.. Refrigerator I -I None Li Fireplace(s)# L I None H
Walls Plaster/Avg Fuel Gas __Range/Oven X Stairs H Patio — H Garage #of cars
Trim/Finish Pntd wd/Avg. ,ConditionAvg. Disposal I Drop Stair I -'I Deck Attached
Bath Floor vinyl/Fair-Avg. ICOOLING No Dishwasher X Scuttle X Porch Front X !, Detached 3.5
Bath Wainscot Tile/Avg 'Central _Fan/Hood X Floor [ 1 Fence . [ I ' Built-In _.
Doors Wood ply/Avg. Other Microwave I_.-I Heated [_ J Pool I_I Carport
!Condition Washer/Dryer I I ,Finished I r I Driveway
Additional features(special energy efficient items,etc.): See the attached addenda
Condition of the improvements,depreciation(physical,functional,and external),repairs needed,quality of construction,remodeling/additions,etc.: There are
u,
I2 the normal functional inadequacies for this _age of home, and no external obsolescence. The construction
quality is typical for the area. Based on maintenance and condition, in comparison to competing
0 properties, the estimated effective age is below the actual age. -
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 know or apparent environmental conditions that would negatively
impact on the value of the property.
Freddie Mac Form 70 6/93 PAGE 1 OF 2 ((1�p Fannie Mae Form 1004 6/93
Form UA2—"TOTAL 2000 tor Windows"appraisal software by a la mode,inc.—1-800-ALAMODE 991.369
. I Page#4j
• Olmaplewd
Valuation Section UNIFORM RESIDENTIAL APPRAISAL REPORT File No.
ESTIMATED SITE VALUE _ = $ 27,500 Comments on Cost Approach(such as,source of cost estimate,site value,
ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS: square toot calculation and for HUD,VA and FmHA,the estimated remaining
Dwelling____ 828 Sq.Ft. @$ 61.15__ = $ 50, 632 economic life of the property): All sale dates are closed_____
_ _ 576 Sq.Ft. @$_27.09 _ = _ 15, 604 dates. If two dates are included, contract___ _
ao Dormer; appliances; porch = 4,000 dates will be noted. Cost information:
$ Garage/Carport 936 _ Sq.Ft @$ __14.80_ = ____ 13,853 Residential Cost Handbook, Marshall & Swift= _
Total Estimated Cost New = $ 84,089 Average Quality. Site value determined by __ _
o Less Physical Functional External Extraction Method, and includes the city tap
a
Depreciation 35 0401 i.. ____ _ _ _$ 35,040. fees. Remaining economic life: 35 years._ __
Depreciated Value of Improvements =S 49,049 _
"As-is"Value of Site Improvements =$_ 5,000 _____
INDICATED VALUE BY COST APPROACH =$ 81,549
__ ITEM I _ _ SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
1322 16th Ave. 1423 12th Street 1221 7th Street 2345 W. 8th Street
Address Greeley, $ - I•Greeley
nor $ 81 95.6 Greeley
loe $]__ 79 9 Greeley____Y
Proxlmrtyto$ub)ect � � 2 blocks north _ 6 blocks north 9 blocks NW
Sales Price P. 00 �s r`£..` S_ 87 000
Price Gross Living Area $__ / $ 107.55 . P. s?�S E'�..$ 58.62 1 $ 100.69 t O g x'
Data and/or Inspection MLS/Agent/Public MLS/Agent/Public MLS/Agent/Public
Verification Source Pub Records Records/Inspection Records/Inspection Records
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(—)$Adjust. DESCRIPTION _+(—)$Adjust. DESCRIPTION t_)_$Adjust
Yii 1 fixixi Max FHA New cony. New cony.
Sales or Financing $:iji. : 1,%
Concessions iiiiiipii648iiNiiiij:iiiijiii .None None None
T—
Date of Salegime ?'i 05-96 12-96 12-96
Location Cnt Greeley Cnt Greeley Inferior +5,000 wCnt Greeley +2.,000
LeaseholdfFee Simms Fee Fee Fee Fee
Site 9,500 1,250 __._. +2,000 9,_500 Bi500_
View Interior Interior Interior Interior
Design and Apyeal _ Ranch Ranch 1.5_story_ Ranch
Quality of Construction Average Average Average _ Average
Age — .._...__._77 68 94 48
Condition Average Superior _L_. _7,000 Average Superior -2,000
Above Grade Total BdrmS.Baths _Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths
En
Roam Count 3 1 ? 4 2 I 1 -1,000 7 2 2 -2,000 4 2 1 -1,000
a Gross Living Area _ 828 Sq.Ft. _ 762 Sq.Ft. 0 1,363 $q.Ft. =10,700 864 Sq.Ft. 0
a Basement&Finished 576 672 457 +1,000 758 —1,000
z
g Rooms Below Grade ._ 60%/Fair. ._ 60%/New ___ -2 000 80%/Poor +1,000, 100%/Apartmt _.__4,_000
a Functional Utility Typical Typical Typical Typical
Heahnm'Cooling FANG FANG FANG ______ FANG
0 Energy Efficient Items Typical Typical _-__-- Typical Typical
Garage/Carport 3.5 car det 1 car det +7, 500_ 1.5 car shed +7, 500 2.5 car det +2,000
h Porch,Patio,Deck, Porch Slab Porch Deck
Fireplace(s),etc. None None Stove -500 None
Fence,Pool etc. Nosprnklr _ No sprnklr No sprnklr No_sprnklr
Net Ad'I.(total) + - 4 500 // + II $ 1,300 + 14,7 4,000
Adjusted Sales Price i i
iwagmorw of Comparable ., r'. �4 3 @•• , ,$ 81,456 $ 81,200 ''' • .' $ 83,000
Comments on Sales Comparison(including the subject property's compatibility to the neighborhood,etc.): See the attached addenda
ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO,3
Date,Price and Data No 12 mo No 12 mo No 12 mo No 12 mo
Source,for prior sales sale history sale history sale history sale history
within year of apprraisal - _Pub records Pub records .,. Pub records_ Pub records_
Analysis of any current agreement of sale,option,or listing of subject property and analysis of any prior sales of subject and comparables within one year of the date of appraisal:
This property is not for sale, and has not been offered in the past 12 months.
INDICATED VALUE BY SALES COMPARISON APPROACH $ 81,000
INDICATED VALUE BY INCOME APPROACH fit Applicable) Estimated Market Rent $ 750 /Mo. x Gross Rent Multiplier 100 =$ ___ _x,042
This appraisal is made VI "as is" P subject to the repairs,alterations,inspections or conditions listed below Li subject to completion per plans&specifications. '
Conddions of Appraisal: The _income approach_was not considered a valid approach to estimating value. This
appraisal was made "as is." No liability, is assumed for the structural or mechanical elements._
Final Reconciliation: The sales comparison approach is considered to most resemble a typical buyer's thinking and
is therefore given the most weight. The cost approach adds additional support to the final value
z indicated.2 The purpose at 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,contingent
- and limiting conditions,and market value definition that are stated in the attached Freddie Mac Form 439/FNMA form 1004B(Revised 06-93 ).
o IQWE)ESTIMATE THE MARKET VALUE,AS DEFINED,OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT,AS OF 01-27-97______
2 (WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT)TO BE $ 81,000
" APPRAISER' ---7 SUPERVISORY APPRAISER(ONLY IF REQUIRED):
r� � �
Signature /� r.-L ! Signature [] Did [ 1 Did Not
Name Bruce W. Willard _... _._ Name _. Inspect Property
Date Report Signed 01-27-97 — Date Report Signed -_
State Certification#_Cc 0.1315403 State co _ State Certification# --_ State
Or State License# State Or State License# State
Freddie Mac Form 70 6/93 PAGE 2 OF 2 aefgpniy Mgg Form Q 1004 6-93
Form UA2—"TOTAL 2000 for Windows"appraisal software by a la mode,inc.—1-800-ALAMODE : '�,ab9
I ie#5l
General Text Addendum
• URAR : SITE
No survey was provided to the appraiser; inspection of the site and public records provided all information
regarding easements and possible encroachments, but cannot be relied upon. A typical City site, narrow and
deep. There is a new detached garage with access from both the front and the rear. No sprinkler system or
fencing. No detriments.
▪ URAR—' FEATURES
Subject is an older raised ranch styled house with the following features: Older wood floors; ash cabinets
probably installed in the 1950's or 1960's; cedar lap siding; a covered front porch; a basement with some
finish; a new, detached garage with three overhead doors. The house has an older furnace and older
galvanized plumbing; the basement finish is amateur, with low slung, acoustical ceiling tiles in poor
condition, older vinyl tiles and carpet, and below average finish. The laundry area infringes on the family
room, which is being used as a bedroom but is non-conforming. Other parts of the house also need
attention: the exterior paint is peeling, the wood floors need refinishing, and the kitchen and bath
finishes are dated. There is some nice decorating touches like paint stenciling, and the house is charming,
but it needs some work. It has had good care and upkeep, but it is time for a remodel. The garage will
have power and heat, eventually, but it is currently unfinished and uninsulated. Overall the house is in
average condition, and the basement is in fair condition. As far as the floorplan is concerned, there is
market data to indicated that one bedroom on the main floor has inferior appeal to two bedrooms, which is a
more typical floor plan in this price range.
• _;_COMMENTS ON SALES COMPARISON
The comparables are properties similar in style, neighborhood, or sales date and condition. Sale #1 is the
most recent sale in the neighborhood of a similar styled house. The home had been newly remodeled, with new
exterior paint, new roof, new plumbing and heating, new kitchen cabinets, and new floor coverings. It had
two bedrooms on the main floor, but a smaller R-2 site, and much inferior detached garage. Sale #2 was in
an area of inferior home prices, but was much larger. Part of the square footage was on a finished second
story. The house was in similar condition, except the basement was smaller and almost unusable. The
detached garage was large, but really just a wreck. Sale #3 was also in an R-2 neighborhood with somewhat
less appeal. It had metal siding, newer floor coverings, and a detached, smaller 2-car garage with a shop.
The basement had a finished apartment, with two bedrooms and a bath. The range of the comparables is
relatively narrow. Sale #1, in subject neighborhood, is given the most weight.
• ITRAR 1._. ERTIFICATION_
I certify that, to the best of my knowledge and belief, the reported analyses,
opinions and conclusions were developed, and this report has been prepared, in
conformity with the requirements of the Code of Professional Ethics and the
Standards of Professional Practice of the Appraisal Institute.
I certify that the use of this report is subject to the requirements of the
Appraisal Institute relating to review by its duly authorized representatives.
This is a summary report.
Austin&Austin 981369
Form TADD—"TOTAL 2000 for Windows"appraisal software by a la mode,inc.—1-800-ALAMODE
•
i Page_#6r
•
Subject Photo Page
Borrower/Client Worthley
Property Address 1.322 16th Ave.
City Greeley County Weld State CO Zip Code 80631
Lender Randall W. Worthley
f r Subject Front
�,,� '"' ?• s �i• ti id
ti,a 4 `'+ 1322 16th Ave.
16 � rf
Sales Price
�+ c.... v • `! . Gross Living Area 8 z 8
•:�;., ,.• •.d� i Total Rooms 3
3, t j - . . Total Bedrooms 1
c f ..4-5.--':...:6::(4:,•:'4.
...�;:,.'` ,:ii.: ...>;� ,>r Total Bathrooms 1
• ,toil .,r • '-''',',5. . Location Cnt Greeley
•
� it View Interior
' .4'• - Site 9,500
' 44.1A
a" ,' r, v ' ��'", L , Quality Average
. J , Age 77
z 1
....:•:,.......,.....-....., • „
3 : 4 r
a ,4 � Subject Rear
h "l] i � •, r';;,.. ' '';:..\:11,P7 ..'• '.fist
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::1;;•:.:.!. ..',4 ", f� N 1 r J�.Ms 1,,,,,,k.;1;;:: r ltv vr'''':.ry-
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Form PICPIX.SR—'TOTAL 2000 for Windows'appraisal software by a la mode,inc.—1-800-ALAMODE
•
LPage#7j
Comparable Photo Page
Borrower/Client worthley -
Property Address 1322 16th Ave. _
City Greeley County weld State CO ZipCodeso631_
Lender Randall W. Worthley
Comparable 1
an ,lra,•l lam �;+a r+r a 'k6 1423 12th Street
i1i , ar • ��'*; l '• la,,�� Sale PriceProx.to Subject 28 blocks north
�+ Price 81,956
✓ a°r , "1 —�'Y ~ ' ` _ Gross Living Area 762
p
�' / A f f 31' " , Total Rooms 4
*yor -..r. • ,„ '., y'e r s�, � . Total Bedrooms 2
�"' Total Bathrooms 1
Location Cnt Greeley
i i. '� It It -- VS Interior
0ii i
+ U�+,,. ' m Site 7,250
it,
p Duality Average
itli 1• t -� _ 11.4 7: 4.lw ', w Age 68
Comparable 2
;1;0,4; ,� t+r11 • • 4r9 1221 7th Street
+ 1044". '"t ` l` ,4'..,a,,,,, ,� %, •.°I1•?:',..;,-A.:4.,:,;,,,,,,,,-.::,,.-,,,,-,,,,, Prox.to Subject 6 blocks north
I+, •• ,d1 .1 f .
x : a "� 71�Yv`^ ; f k; z ' , GrossSale vie 79,900
��
r Aw� vr + GrossLwingArea 1,363
�':1 Total Rooms 7
tU - r.: +* Er Total Bedrooms 2
'• _,,,,,aYFd' lane -T Ip ' r�; vlt .. Total Bathrooms 2
Location Inferior
4 • ��, View Interior
1 iu 'r`- Site 9,500
r ,t yam: 4: W' Quality Average
-°' + �Y18� ' hid 4 Age 94
� '1 &q 4 ¢ .� 'y",- l ea
r tlx '{,:''`'TM �, Fa74 'y';',',4.,.. 44:",1,4:5.,:i.,„ "nasar
Ili
Comparable 3
2345 W. 8th Street
PI0X.to Subject 9 blocks e�w
rc° Sale Price 87, 000
Gross Living Area 864
Total Rooms 4
�,w�" , i,"I•"' "�, . Total Bedrooms 2
-. -
Location Total Bathrooms ].Cnt Greeley
1 _1' r -•m,, View Interior
firSki,' Site 15,200
! .
Quality
X11 Pr,A� ,C Average
Age 4 8
991.369
Form PICPIX.CR—`TOTAL 2000 for Windows'appraisal software by a la mode,inc.—1-800-ALAMODE
•
Building Sketch
Borrower/Client Worthley
Property Address 1322 16th Ave.
City Greeley County Weld State Co Zip Code 80631
Lender Randall W. Worthley
26.0'
3 Car Garage 36.0'
18.0
Bedroom 14.0' 24.0'
7.6 6.6
6.0'
Storage
0. Kitchen
Laundry
Bath 24.0' 24.0'
• 24.0'
Family
Bedroom Basement
First Floor Livvpn.
—60
SKETCH CALCULATIONS
24.0
Al: 18.0 x 14.0= 252.0
A2:24.0 x 24.0= 576.0
Al
A2
Forst Floor 828.0
A3:24.0 x 24.0= 576.0
Al
Basement 576.0
Total Living Area 1404.0
- A4:16Uxib.U= USDA)
M
Detached Garage 936.0
Total Garage Area 936.0
A5114.0 X b.0= 144.0
Aa
Porch 144.0
Total Porch Area 144.0
991..369
Form SKT.BIdSI'—'TOTAL 2000 for Windows'appraisal software by a la mode,inc.—1-800-ALAMODE
N
Greeley No. 3 Ditch
4 Y I ■■■�.��1�,
+Broadview Park
~ .--,.■■'-. �,
Sale#2 Lincoln Park.
T 1 •S 34 1 Sale#3 • `1_, 4Gre-ele �■_� , �,
J *Luther_Park
34
34 ale#
85 J
!ij1114In1'n,
- . un[y Public Hospital
Monriiew Park .■■■.
o niversity Of No
Cottonwood Lake '
*Glenmere Park
20
West Greenlet'Lakeco
=
Gard
arr�IPa k
:®d.993=DeL•onne:Mapping 34 —
ne vow — IJJ_
LEGEND Scale 1:25,000(at center) Wortliley
�-2000 Feet I Mag 14.00
Feature Tue Jan 28 09:08:58 1997
• Larg
e Large City
F SOU mete
+ Hospital rs
* Park
US Highway
Population Center
Street,Road
Hwy Ramp
Major Street/Road
Street,Road
o US Highway
I Railroad
River
Intermittent River
Open Water
981369
I Page#10)
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,express or implied,regarding this determination.
4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do
so have been made beforehand.
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, 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 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 service(s) 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
Austin&Austin 991..169
Form ACR—"TOTAL 2000 for Windows"appraisal software by a la mode,inc.—1-800-ALAMODE
Page#111
•
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 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 my compensation for performing this
appraisal is contingent on the appraised value of the properly.
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 individual(s) 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.
SUPERVISORY APPRAISER'S CERTIFICATION: It 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: 1322 16th Ave.
APPRAISER: SUPERVISORY APPRAISER (only if required):
-77 ,6 Signature: = 1 �/y�r l� 1� - 9 Signature:
Name: Bruce W. Willard Name:
DateSigned: 01-27-97 Date Signed:
State Certification#: CG 01315403 State Certification#:
or State License#: _ or State License#: _
State: co State:
Expiration Date of Certification or License: 12-31-98 Expiration Date of Certification or License:
❑ Did ❑ Did Not Inspect Property
Freddie Mac Form 439 6-93 Page 2 of 2 Fannie Mae Form 10040 6-93
Form ACR—"TOTAL 2000 for Windows"appraisal software by a la mode,inc.—1-800-ALAMODE 991,.369
Page#12i
MULTI-PURPOSE SUPPLEMENTAL ADDENDUM
FOR FEDERALLY RELATED TRANSACTIONS
Austin&Austin
Borrower/Client worthley _
Property Address 1322 16th Ave.
City Greeley CountyWeld State co Zip Code 80631
Lender Randall W. Worthley
This Multi-Purpose Supplemental Addendum for Federally Related Transactions was designed to provide the appraiser with a convenient way to comply with the current
appraisal standards and requirements of the Federal Deposit Insurance Corporation(FDIC),the Office of the Comptroller of Currency(OCC),The Office of Thrift
Supervision(OTS),the Resolution Trust Corporation(RTC),and the Federal Reserve.
This Multi-Purpose Supplemental Addendum is for use with any appraisal. Only those
statements which have been checked by the appraiser apply to the property being appraised.
e;;:;<:.;::a«e;;..;:o;;;:;.;:o;;;;o:e;;:;:xo;:o;;:to;:oro;:o;;:.xe:......:..........>.....,:..:...:.,:..,.,.:.:;:...:..,:.,..........:.._........_......................a..o,::..::.�,::.<.>:<.;:,..:::.,.......:.... . .. ........ . .:
;xo;:;:o;:o•:nto:orcvo:to:tL;
..........:.:.:..::.:....:.:. ..:...r::::::e, ....,: :.,.:.:.::.,..;::.::.....:.....;.::..:..>.:g;ty:::tt:tf;:•:e:m;;:»;:;.:�e>:e:;;:..a..:e.:<oo;y.•;te;:w.>:<.6:�r.'<`::;::::.G::.,�.:):1iit'f:9i;,,:;.;....4.... ........ .
�,yyyW� yy{�y�{ �r p�1I v:;;;;re;w.::..>„y; ;'x>'ao::
�tar�nyyyy��yy ':i�Nq."'I'tIIN:°IIF::1tg :5yn�xx���KY'!!fi�iiii!�(ii�i0i:tiii:ii;i!i�iii:"is�::iy'�I:ti7isi�7i'i��i�7!ti:"!iii�iii!i:!ii!'Y"i�gii��:��i�it`:.:
The purpose of the appraisal is to estimate the market value of the subject property as defined herein. The function of the appraisal is to assist the above-named
Lender in evaluating y�'` the. subject c property yt for lending di purposes.y�ts This is a Federally related transaction.
mgionLin,P'vqetsT11FrnAk11.': APPRAISAL PBDCESS* :.._F .... ryi St 3 ...,.. ' :.. ,. . S $. <s .,
oimnSSungiag
.n................./,........../,...v::.v..n..�S:.::::A:ntp::i:v.�vi:.y.A�,..4..u.:cl:
x The 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 within the subject market area. The original source of the comparables is shown in the Data Source section
of the market grid along with the source of confirmation,n available. The original source is presented first. The sources and data are considered reliable.
When conflicting information was provided,the source 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.
X The Reproduction Cost is based on Marshall s _Swift Cost Services
supplemented by the appraiser's knowledge of the local market.
X Physical depreciation is based on the estimated effective age of the subject property. Functional and/or external depreciation,if present,is specifically
addressed in the appraisal report or other addenda. In estimating the site value,the appraiser has relied on personal knowledge of the local market. This
knowledge is based an prior and/or current analysis of site sales and/or abstraction of site values from sales of improved properties.
The subject property is located in an area of primarily owner-occupied single family residences and the Income Approach is not considered to be meaningful.
For this reason,the Income Approach was not used.
X The Estimated Market Rent and Gross Rent Multiplier utilized in the Income Approach are based on the appraiser's knowledge of the subject market area.
The rental knowledge is based on prior and/or current rental rate surveys of residential properties. The Gross Rent Multiplier is based on prior and/or current
analysis of prices and market rates for residential properties.
i For income producing properties,actual rents,vacancies and expenses have been reported and analyzed. They have been used to project future rents,
vacancies and expenses.
SUBJECT PROPERTY OFFERING INFORMATION ` ;` 4+ a s e t .
According to :Fri-City Services MLS the subject property:
X has not been offered for sale in the past 30 days.
Li is currently offered for sale for$
Li was offered for sale within the past 30 days for$
1 Offering information was considered in the final reconciliation of value.
(XI Offering information was not considered in the final reconciliation of value.
ill Offering information was not available. The reasons for unavailability and the steps taken by the appraiser are explained later in this addendum.
SM,I $ HIStORY OF SI:m.IEo 'oiturtni
According to Weld County_Assessor Public records the subject property:
X has not transferred in the past twelve months.
E I has transferred in the past twelve months.
i All prior sales which have occurred in the past twelve months are listed below and reconciled to the appraised value,either in the body of the report or
in the addenda.
Date Sales Price Document# Seller Buyer
AiN•FkimmFkoorktiAtAitioittitnomg:ammagnmommegimanagoniiiimeinimimagoomm
Subject property is not located in a FEMA Special Flood Hazard Area.
I J Subject property is located in a FEMA Special Flood Hazard Area.
Zone FEMA Map/Panel# Map Date Name of Community
C 060184 0002 B 07-16-79 Greeley
,! The community does not participate in the National Flood Insurance Program.
X The community does participate in the National Flood Insurance Program.
r„..nI It is covered by a Legylar program.
I-. It is covered by an emergency program.
Page 1 of 2
491 369
Form MPA—"TOTAL 2000 for Windows"appraisal software by a la mode,inc.—1-800-ALAMODE
I_Page#13j
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.. ..... ..>..,.:,.,35 .af........, ..a., s,, n.>.(>n>.>r �sS'... r).,n,. t3.. o.,.::(.:.):.....:,a.::p..):.:::<t);)):('.;).;t:(.);).):o)T)T:a)':;n.:n ,..:.::.�.,::.:..4.,:. .vin ...... ...........:.ip,.t .. t t..Y..,. :.i.n.,.(.:.. ,.•.:...).:
........................:..... .: ::..:... .)�:n�.o)'.. . ..... .:..:...:.:.,::..)..¢.:;.:.�x:.i:;t)x:))•):;;r:¢::.�...).n;o:.<o.oRo . ..<:.(:<R::,.;.,,,::Sp.). .5.<>.:... 5):S:yi:(:GS¢:i...,..._....._....- , :,.:,a-,...-:.,s�.,,,_.v..�..�._s.a_,, .e............._,...a_. .< .::....:. ,,, .,v,.n..,,..w.....:._as....<.r%5�.)::1 %:(aayu..::{::�>.i.::�.>).:...,.........,...
N The subject property is currentiv not under contract.
❑ The contract and/or escrow instructions were not available for review. The unavailability of the contract is explained later in the addenda section.
L I The contract and/or escrow instructions were reviewed. The following summarizes the contract:
Contract Date Amendment Date Contract Price Seller
I I The contract indicated that personal property was not included in the sale.
I The contract indicated that personal property was included. It consisted of _
___ Estimated contributory value is$ __ _
N Personal property was not included in the final value estimate.
Personal property was included in the final value estimate.
L.] The contract indicated no financing concessions or other incentives.
L_J The contract indicated the following concessions or incentives:
] If concessions or incentives exist,the comparables were checked for similar concessions and appropriate adjustments were made,if applicable,so
that the final value conclusion is in compliance with the Market Value defined herein.
IC JF Rr�1►�7:�Ilir����� tltiYl7^M1f'*C�17'r3��IM17•Y((tp•P'+'rfi.� .�,+.S@ZSY�s 3C'q�t32 o t bS3 q o � # r 5§� R;R )t 3r3 ( )Y�ry�.
3-6 months is considered a reasonable marketing period for the subject property based on _Tri-City Services MLS data.
•
.]*�(�` ..ADIDITIONAL CERTIFICATION.., ) , ;Eft* '!.% >)C:,• ;)),;: ; ":, ;'3; ];,t-,.,::
'+' Y .: i a � ;R ) t a°)�'
oreVi
The Appraiser certifies and agrees that:
(1) The analyses,opinions and conclusions were developed,and this report was prepared,in conformity with the Uniform Standards of Professional
Appraisal Practice("USPAP"),except that the Departure Provision of the USPAP does not apply.
(2) Their compensation is not contingent upon the reporting of predetermined value or direction in value that favors the cause of the client,the amount
of the value estimate,the attainment of a stipulated result,or the occurrence of a subsequent event.
(3) This appraisal assignment was not based on a requested minimum valuation,a specific valuation,or the approval of a loan.
ADDITIONAL<(ENVIRONMENTAL) LIM TJNG€coND1TiOl& € i ) .:s )>)<of t < )tat) ) 3R ) «ta i a l )<
a 4 #r i � A Sk 32irr
The value estimated is based on the assumption that the property is not negatively affected by the existence of hazardous substances or detrimental
environmental conditions unless otherwise stated in this report. The appraiser is not an expert in the identification of hazardous substances or detrimental
environmental conditions. The appraiser's routine inspection of and inquiries about the subject property did not develop any information that indicated
any apparent significant hazardous substances or detrimental environmental conditions which would affect the property negatively unless otherwise stated
in this report. It is possible that tests and inspections made by a qualified hazardous substance and environmental expert would reveal the existence of
hazardous substances or detrimental environmental conditions on or around the property that would negatively affect its value.
o u R..<. ,. ..■ y� ..,... i k..,., .J..( )o(.... 4.<,.. § ( ,.;. )5 3a< o o....�P 3 R t�o�cJO,aj b
a. <
N APPRAIISER'S SiIG$ATURE& LICE TIFICATION
Appraisers Signature' Effective Date 01-27-97 Date Prepared 01-27-97 _
Appraiser's Name(print) _Bruce W. Willard Phone# (970 ) 353-0790 -
State co ]j License j Certification# cc 01315403 Tax ID# 84-1229034
Eqt.14NVISIGNIfitAMPRAISER'S CERTIFIGATiON< ) ,(
L.] The co-signing appraiser has oersonally inspected the subject property,both inside and out,and has made an exterior inspection of all comparable sales
listed in the report. The report was prepared by the appraiser under direct supervision of the co-signing appraiser, The co-signing appraiser accepts
responsibility for the contents of the report including the value conclusions and the limiting conditions,and confirms that the certifications apply
fully to the co-signing appraiser.
The co-signing appraiser has not oersonally inspected the interior of the subject property and:
]J has not insoected the exterior of the subject property and all comparable sales listed in the report.
❑ hasinspected the exterior of the subject property and all comparable sales listed in the report.
� I The report was prepared by the appraiser under direct supervision of the co-signing appraiser. The co-signing appraiser accepts responsibility for the
contents of the report,including the value conclusions and the limiting conditions,and confirms that the certifications apply fully to the co-signing
appraiser with the exception of the certification regarding physical inspections. The above describes the level of inspection performed by the
co-signing appraiser.
(_] The co-signing appraiser's level of inspection,involvement in the appraisal process and certification are covered elsewhere in the addenda section
of this appraisal.
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�;-� ,.; ART
Co Signing
Appraiser's Signature Effective Date o1 27-97 Date Prepared o1 2.7-97
Co-Signing Appraiser's Name(print) __.. Phone# ( )_
State I ] License I I Certification# Tax ID#
Page 2 of 2
98: .x .::)
Form MPA—"TOTAL 2000 for Windows"appraisal software by a la mode,inc.—1-800-ALAMODE
4 , r'
RESUME OF APPRAISER
Bruce Willard is the chief appraiser for Austin & Austin
Appraisal Services and works full time in real estate marketing,
appraisal , and analysis . He is a licensed Real Estate Broker and
a licensed Certified General Appraiser in the State of Colorado .
Bruce is a Colorado native, an ex-Air Force pilot , with over 2 , 000
hours of high performance aircraft time, and he holds a B . S . in
Electrical Engineering from the U. S . Air Force Academy.
Bruce is a member of the National Association of REALTORS,
Colorado Association of REALTORS, and the Greeley Board of
REALTORS . He holds the designation of GRI from the Graduate
REALTORS Institute, Certified Real Estate Brokerage Manager (CRB) ,
Certified Residential Specialist (CRS) and the prestigious
Certified Commercial Investment Member (CCIM) from the National
Association of REALTORS, and is a Candidate for the MAI designation
from the Appraisal Institute . He is one of less than 3 , 500
individuals nationwide to have earned the CCIM designation, and one
of less than 100 to hold each of the CCIM, CRB and CRS
designations .
Bruce is a recognized authority on Greeley real estate . He
has been the guest speaker at numerous local and state-wide clubs
and organizations, including Rotary clubs, the Northern Colorado
Builder' s Association, and the Colorado Chapter of the Society of
Industrial and Office REALTORS .
Bruce has been appraising since 1987, and currently appraises
for 1st Choice Bank, Bank One, Key Bank, First National Bank, Union
Colony Bank, Independent Banks, Waterfield Mortgage, Eaton Bank,
ICM Mortgage, FirstState Bank, CUNA Mortgage, Coldwell Banker
Relocation, State Farm Relocation, and numerous other parties and
institutions in the Weld County area including: Greeley, LaSalle,
Evans, Windsor, Eaton, Ault, Pierce, Kersey, Johnstown, Milliken,
and Gilcrest . Bruce has appraised properties from single family
residences and vacant sites, to whole subdivisions, apartment
complexes,leges and an shopping sh centers . �N� �� r
ro
,�//S1��,flew.Aire✓o,.. ► tivig�v , ..er��ist lr>rim�r ;✓�7,fftS, 'nafl .}� �� l� I� �� EXt+�res Not Transferable® Number CG01315403 1 G1 , 1 December thirty-firstID
l�® DEPARTMENT OF REGULATORY AGENCIES
�of•C * *** *** *** \\
i CERTIFIED GENERAL APPRAISER ,�< W $ ** * * * * *
� /876 *
This is to certify that the person shown below has been duly enrolled as shown above in the Statesdf°Color 1'or the*c*a1 ndar MO(s) P
)))��` through 1998 as provided for by the Laws of Colorado. Expires December thirty first. 1998
ID
j Authorized by the Board of Real Estate Appraisers. WITNESS by my
hand and official seal at Denver.Colorado this 1 s t day
p BRUCE WILLARD of January 1996 77''''QQ q.
918 13TH ST arMk a / _SUITE 1 t
GREELEY, CO 80631 Program Administrator
it 981369 ill,
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