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Home My WebLink About971473.tiffRESOLUTION RE: THE BOARD OF EQUALIZATION, 1997, WELD COUNTY, COLORADO - ADJUST VALUE IN PART PETITION OF: DAVIET MARK S & MARY PATRICIA 3527 RANGEVIEW RD GREELEY, CO 80634 DESCRIPTION OF PROPERTY: PIN: R2108186 PARCEL: 095911408003 - GR RV2-1 L1 BLK2 RANGE VIEW ESTATES %3527 RANGEVIEW RD% 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 1997, 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 1997, claiming that the property described in such petition was assessed too high, as more specifically stated in said petition, and WHEREAS, said petitioner not being present, 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: Land Improvements OR Personal Property TOTAL ACTUAL VALUE ACTUAL VALUE AS DETERMINED ADJUSTED BY ASSESSOR ACTUAL VALUE $ 60,000 $ 60,000 149.494 145,500 $ 209,494 $ 205.500 971473 AS0038 RE: BOE - DAVIET MARK S & MARY PATRICIA 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), CRS) 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 523 Denver, CO 80203 Phone: 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), CRS) 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, CRS) 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. 971473 AS0038 RE: BOE - DAVIET MARK S & MARY PATRICIA 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 25th day of July, A.D., 1997. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO ATTEST: Weld C BY epu APPROVED AS TO FORM: EXCUSED George E. Baxter, Chair stance L. Harbert Dale K. Hall 971473 AS0038 stirm WIiDc. NOTICE OF ADJUSTMENT GR RV2-1 L1 BLK2 RANGE VIEW ESTATES %3527 RANGEVIEW RD% OWNER: DAVIET MARK S & MARY PATRICIIArp;( DAVIET MARK S & MARY PATRICIA 3527 RANGEVIEW RD GREELEY, CO 80634 07/02/1997 LOG 663 PARCEL 095911408003 ACCOUNT R2108186 YEAR 1997 OFFICE OF COUNTY ASSESSOR 1400 NORTH 17th AVE. GREELEY, CO 80631 PHONE (970) 353-3845, EXT. 3650 The appraisal value of property is based on the appropriate consideration of the approaches to value required by law. The Assessor has determined that our ppropper should be included in the following cat orybes: RESIDENTI PROPERTY IS VALUED BY CONSIDERING niE MARKET APPROACH. If your concern is the amount of your propertytax, 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 fora listing of these districts, and plan to attend these budget hearings. The Assessor has carefully studied all available information, giving particularattention to the specifics included on your protest and has determined the valuation(sassigned to yroperty. The reasons for this defemination of value are: DUE TO THE VOLUME Oour pF APPEALS YOUR NOTICE OF DETERMINATION HAS BEEN DELAYED AND POSTMARKED LATER THAN JUNE 30TH. IF YOU WISH TO APPEAL YOUR VALUATION FURTHER PLEASE FORWARD A COPY OF YOUR NOTICE SHOWING THIS MESSAGE ALONG WITH YOUR DESIRE TO GO TO THE COUNTY BOARD OF EQUALIZATION. THIS WILL ALLOW YOU AN EXTENSION THROUGH MIDNIGHT JULY 21ST. YOUR PROPERTY VALUE HAS BEEN TIME ADJUSTED TO REFLECT THE MARKET AS OF 6/30/96. SALES BETWEEN JANUARY '95 AND JUNE '96 ARE USED AND TIME TRENDED TO JUNE 30, 1996. THIS IS DONE TO ACCOUNT FOR THE CONTINUING RISE IN MARKET VALUES DURING THAT TIME PERIOD. PROPERTY CLASSIFICATION PETITIONER'S ESTIMATE OF VALUE ASSESSOR'S VALUATION ACTUAL VALUE PRIOR TO REVIEW ACTUAL VALUE AFTER REVIEW LAND IMPS 60000 172593 60000 149494 232593 209494 TOTALS $ $ $ f you disagree with the Assessor's decision, you have the right to appeal to the County Board of Equalization for further consideration, 39-8- 06(1)(a), C.R.S. Please see the back of this form for detailed information on filing your appeal. 07/02/1997 By: IS-DPT-AR Form PR -207-87/94 WARREN L. LASELL WELD COUNTY ASSESSOR DATE 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 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. CIWNTY BOARDu1F 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. PLEASE SEE ATTACHED PAGE. C�NAIU t 11 t)if 2-i -97 UA I We obtained a professional inspection and appraisal of this property during the tax appraisal period for which we received the NOTICE OF VALUATION from the County. A copy of that appraisal is attached to this Petition. The professional appraisal is thorough, up-to-date and complete, based upon a full inspection of the property, inside and out. It is also based upon comparable sales. This professional appraisal values the subject property at $190,000, with the land valued at $35,000. Even after action on our previous REQUEST FOR REVIEW, the County still values the same property at $209,494, with the land valued at $60,000. We understand that you have included a "time adjustment" to reflect the "market as o'f'6/30/96.However, even with that consideration in mind, it is impossible to understand how our lot value could have increased by $25,000 in less than three years. There is a home in our neighborhood which has been for sale for almost a year, and still has not sold. Similarly, our neighbors directly across the street just sold their home after trying unsuccessfully for nearly two years to sell. These homes are not selling for their appraised value within a reasonable period of time. Even the previous owners of our home had it on the market for several years, yes - years, before they finally were able to sell it to us for $188,000. There has been no development whatsoever in this area in the past three years which would justify the County's claimed property value increase. WestLake Shopping Center was completed well over three years ago. There is a residential care facility going in nearby on 20th Street, and DaySpring Christian School is expected to be built also nearby on 20th Street. Some medical buildings are being contstructed east of 35th Avenue along 20th Street. If these new structures have any effect on the property value(s) in Rangeview Estates, realtors tell us that it is to decrease, not increase, those values. In fact, residents of the Rangeview neighborhood have been very vocal in their opposition to these new developments due to the anticipated negative impact. For these reasons, it appears that your "time adjustment" formula and calculation of value is flawed. At best, our property value, both land and improvement(s), has remained static since we purchased the home. That value, as set forth in the enclosed appraisal, is $190,000, with a $35,000 lot value. We again respectfully request that the County's valuation be brought in line with the true value of this property. MARK AND MARY PAT DAVIET MR. AND MRS. MARK S. DAVIET 3527 Rangeview Road Greeley, CO 80634-3421 July 19, 1997 Weld County Board of Equalization ATTN: Donald D. Warden, Clerk P.O. Box 758 Greeley, CO 80632 Re: Parcel No. 095911408003 PIN No. R2108186 Dear Mr. Warden: Thank you for notifying us of the hearing date scheduled for a hearing on our valuation for assessment. We understand that the hearing is set for July 25, 1997, at or about 10:30 a.m. My husband, Mark, works out of town and is therefore unable to attend this hearing. Although I work nearby in the City Attorney's office, I am the only city attorney available for the City during the week of July 25th due to an onslaught of serious medical problems within our office. Thus, I am also unable to leave my office in order to attend the hearing with the Board of Equalization. We do wish to continue to pursue our appeal, however, and ask that a decision be made on the written information we have previously supplied to you. It has always been our intention to appear personally to address the Board, but we apologize that we unexpectedly will be unable to do so. Thank you for your time and assistance. If I may answer questions or provide additional information, please feel free to phone me weekdays at 350-9757. We look forward to hearing from you regarding the decision on assessment of our home. Very truly yours, Mary Pat Daviet cc: Warren Lasell, Assessor A -PLUS APPRAISAL 321 N. 44TH AVENUE GREELEY, COLORADO 80634 PHONE, FAX OR MESSAGE: (303) 352-6340 LENDER: 1ST CHOICE BANK OF GREELEY BORROWER: DAVIET, MARK S. & MARY P. LOCATION: 3527 RANGEVIEW ROAD GREELEY, CO 80634 VALUE: $ 190,000 DATE: APRIL 21, 1995 Dear Customer, In accordance with your request, the above property has been personally inspected and appraised as of APRIL 21, 1995. The following is a Summery Report and the purpose of the appraisal was to estimate the market value of the property. The appraisal assumptions, limiting conditions, and warranty are contained herein. If there are any questions, please feel free to contact me. Respectfully submitted, . Su 6rt{%ied Appraiser #C 13116233233 -plus Appraisal He No. 036.95 APPRAISAL OF THE PROPERTY LOCATED AT 3627 RANGEVIEW ROAD GREELEY CO 80634 as of APRIL 21, 1995 for 1ST CHOICE BANK OF GREELEY 2164 36TH AVENUE, GREELEY, CO 80631 by ALAN SUROVIK A -PLUS APPRAISAL 321 N. 44TH AVENUE GREELEY, CO 80634 Laser Generated by EFS Software (619)941-3100 File No.036 95 SUMMARY OF SALIENT FEATURES Subject Address 3527 RANGEVIEW ROAD Legal Description LOT 1, BLOCK 2, RANGE VIEW ESTATES City GREELEY County WELD State CO Zlp Code 80634 Census Tract 14.01 Map Reference P/GRAPHICS Sale Price Date of Sale $187,000 4-5-96 Borrower Lender / Client DAVIET, MARK S. k MARY P. 1ST CHOICE BANK OF GREELEY Size (Square Feet) 2,728 Price per Square Foot $68.55 Location RANGE VIEW ESTATES Age 29 YRS Condition AVERAGE Total Rooms 8 Bedrooms Baths 4 3 Appraiser ALAN SUROVIK Date of Appraised Value APRIL 21 , 1995 Final Estimate of Value $;190 , 000 :' Laser Generated by EFS Software (819)941-3100 P.roeoity Description IFORM RESIDENTIAL APPRAISAL REPORT File No.036.95 Property Address 3527 RANGEVIEW ROAD City GREELEY State CO Zip Code80634 Legal Description LOT 1, BLOCK 2, RANGE VIEW ESTATES CountyWELD essor's Parcel No.095911408003 Tax Year1993 R.E. Taxes $1,796.55 Special Assessments $ NONE BarrowerDAVIET, MARK S. & MARY P. Current OwnerCARTER, DOUGLAS B. Occupant: rj Owner nTenant n Vacant roperly rights appraised n Fee Simple Fl Leasehold I Project Type n PUD n Condominium (HUD/VA only) HOA $ N/A/Mo. t Neghborhood/Prolect Name RANGE VIEW ESTATES Map Reference P/GRAPHICS Census Tract 14. 01 ale Price $ 187,000 Date of Sale 4-6-95 Description and $ amount of loan charges/concessions to be paid by seller NONE Lender/Client 1ST CHOICE BANK OF GREELEY Address 2164 35TH AVENUE, GREELEY, CO 80631 praiser ALAN SUROVIK Address321 N. 44TH AVENUE, GREELEY, CO 80634 Location Built up Growth rate Property values Demand/supply Marketing time El X ❑Rapid II ❑ E Urban Over 75% Increasing Shortage Under 3 mos. ❑ ❑25-75% X X X IX13-6 Suburban ❑ Rural ❑ Under 25% Stable ❑ Slow Stable ❑ Declining In balance ❑ Over supply mos. Fl Over6 mos Predominant occupancyAGE � te�y horsing $(000) Present land use % One family 95 Land To. © ❑ use change Not likely In process • Likely ❑X Owner 100 80 Low N 2-4 family El Tenant 450 High 50 Multi -family ❑ Vacant (O -5%0R, Predominant :'f? p Commercial 2 El vaunt loverPt} 150-225 25-36(VACANT) 3 Note: Race and the Neighborhood boundaries racial composition of the neighborhood are not appraisal Wort THE SUBJECT NEIGHBORHOOD IS KNOWN & characteristics. RANGE VIEW ESTATES, BOUNDED BY 20TH STREET TO THE SOUTH AS & 35TH AVENUE TO THE EAST. IT PROVIDES A GOOD ENVIRONMENT FOR THE SUBJECT PROPERTY. Factors that affect THERE ARE the NO marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to KNOWN FACTORS THAT WILL NEGATIVELY AFFECT THE MARKETABILITY OF THE market, etc.): SUBJECT PROPERTY. CLOSE PROXIMITY TO GREELEY COUNTRY CLUB GOLF COURSE. AIMS COMMUNITY COLLEGE TO ITHIN 1 MILE. SCHOOLS ARE WITHIN 8 ELKS. EMPLOYMENT STABILITY IS AVERAGE FOR THE AREA. RANGE VIEW ESTATES PROVIDES GOOD MARKET APPEAL TO THE AREA. Market conditions - - such as data GENERAL MARKET in on the subject neighborhood (including support for the above conclusions related to the trend of property values, demand/supply, competitive properties for sale in the neighborhood, description of the prevalence of sales and financing concessions, CONDITIONS ARE CONSIDERED TYPICAL FOR THE AREA. MORTGAGE RATES; and marketing time etc.): 8.757, - 9.6% AND LOAN DISCOUNTS; TYPICAL 0-1 PTS., ARE CONSIDERED REASONABLE. FINANCIAL FACTORS FOR THE COMPARABLES HAVE BEEN ANALYZED BY THE APPRAISER. PROPERTY VALUE TRENDS ARE TYPICAL TO SIMILAR AND EQUALLY DESIRABLE NEIGHBORHOODS. Project bdonnalion proximate total for number PUDs (it applicable) - - Is the developer/builder in control of the Horne Owners' Association (HOA)? ❑ Yes ❑ No of units in the subject project Approximate total number of units for sale in the subject project Describe common elements and recreational facilities: Dimensions SURVEY TO BE PROVIDED BY THE LENDER FOR EXACT DIM. Topography LEVEL -TYPICAL itearea 27,960 +/— SQ.FT. Corner Lot El Yes III No Size TYPICAL FOR AREA pecific zoning classification and description R1 —SINGLE FAMILY RESIDENTIAL Shape IRREGULAR oning compliance ighest R bf191 Ilse as X improved Legal ❑ Legal nonconforming n Present use (Grandfathered use Illegal ❑ No Zoning n Other use (explain) Drainage APPEARS ADEQUATE View TYPICAL Utilities Electricity Public X❑ Other Ofl-sitie Improvements Type Public Street ASPHALT X Private ❑ Landscaping TYPICAL Driveway Surface CONCRETE as X❑ - Curb/gutter CONCRETE ❑X • Apparent easements ALL UTILITIES ater 0 Sidewalk NONE ❑ ❑ FEMA Special Flood Hazard FEMA Zone ZONE C Area ❑ Yes neap Date 7-79 X No Sanitary sewer X Streetlights ELECTRIC © M Storm Sewer IXI Alley NONE n n FFMAMan No 0801840002B ntments (apparent adverse easements, encroachments, special assessments, slide areas, illegal or legal nonconforming zoning use etc ), THE SUBJECT PROJECT IS CONSIDERED TYPICAL OF OTHER AREA PROJECTS IN ZONING AND UTILITY EASEMENTS. NO APPARENT ADVERSE EASEMENTS OR ENCROACHMENTS. NO KNOWN SPECIAL ASSESSMENTS. GENERAL DESCRIPTION No. of Units ONE EXTERIOR DESCRIPTION Foundation CONCRETE FOUNDATION Slab NONE BASEMENT AreaSq Ft 1,026 INSULATION Roof NONE Ceiling R-30 II El No. of Stories ONE Exterior Walls BRK./HRDBD Crawl Space NONE %Finished 60% ype(DeL/Att.) DETACHED Roof Surface WOOD SHAKE Basement YES Ceiling DRYWALL Walls R-11 Floor NONE None Unknown El ❑ . Design (Style) 4L/GOOD Gutters&Dwnspts ALUM/GALV. Sump Pump NONE Walls DRYWALL Existing/ProposedEXISTING Window Type SLIDERS Dampness NONE NOTED Floor CARPET ge(Yrs.) 29 YRS Storm/Screens DEL PANE/Y Settlement NONE NOTED Outside Entry NO NE ealive Aaa (Yrs.) 15 YRS Nanufacat red -Muse NO Infestation NONE NOTED ROOMS Foyer Living Dining Kitchen Den Family Rm. Rec. Rm. Bedrooms a Baths Laundry Other Area Sq. Ft. Basement 1 STRGE 1,026 Levelt 1 1 1 .5 1 NOOK 1,132 Level2 3 1.75 817 �LVL 3 1 1 .75 779 mished area above grade contains 8 Rooms: 4 Bedr(mm/s): 3 Bath(s): 2 , 728 Square Feet of Gross Living Are§ Materials/Condition oos CPT/VYNL/AVG HEATING X Type FAU KITCHEN EQUIP. Refrigerator ATTIC None AMENITIES Fireplace(s)a2 F P M CAR STORAGE: None ❑ alb DRYWALL/AVG Fuel GAS Range/Oven Stairs ❑ Patio YES - CVD. 13 Garage # of cars im/Fnish WD/STAINED/AVG Contlaion AVC O'^p^^'I Drop Stair ❑ Deck NONE Attached 2 CAR ITERIOR th Floor VINYL/AVGCOOLING X Dishwasher © Scuttle X Porch YES © Detached th Wainscot TILE/AVC Central YES Fan/Hood ❑X Floor ❑ Fence NONE ❑ Built -In ors HOLLOCORE/AVG Other N/A Microwave El Heated II Pool NONE El Carport CondN•r AVG- Washer/Drvern Finished n n Driveway YES dditional features (special energy efficient items, etc.): SUBJECT PROPERTY IS EQUIPPED WITH W/W CARPETING, 2 BRICK FIREPLACES, FORCED AIR HEAT, CENTRAL AIR CONDITI ONG, HOT TUB, 2 CAR ATTACHED GARAGE. ndition of the improvements, depreciation ( physical, functional, and external ), repairs needed, quality of construction, remodeling/additions etc • PHYSI CAL DEPRECIATON IS C 23 DUE TO THE NORMAL WEAR AND TEAR OF THE INMPROVEMENTS. THERE WAS NO FUNCTIONAL OR EXTERNAL OBSOLESCENCE DETECTED AT THE TIME OF THE INSPECTION. dverse environmental conditions ( such as, but not limited to, hazardous wastes, toxic substances, etc. ) present in the improvements, on the site, or in the mmediate vicinity of the subject property. THERE WERE NO ADVERSE ENVIRONMENTAL CONDITIONS AT OR NEAR THE TMMEDIATE VICINTY OF THE SUBJECT PROPERTY AT THE TIME OF INSPECTION. Freddie Mac Form 70 6-93 12CH. PAGE 1 OF 2 Laser Generated Form by EFS software (619) 942-3100 Fannie Mae Form 1004 036.95 UNIFORM RESIDENTIAL APPRAISAL REPORT VG1YGUVSIL VIAJW, ESTIMATED SITE VALUE _ $ 35,000 Comments on Cosi Approach (such as, source of cost estimate, site value, square toot calculation and, for HUD, VA, and FmHA, the estimated remaining economic life of the property): PHYSICAL • ESTIMATED REPRODUCTION COST -NEW -OF IMPROVEMENTS: Dwelling 2,728 Sq Ft © $ 66.61 .$ 161,704 DEPRECIATION WAS CALCULATED USING THE = 1.026 Sq Ftek$ 14.48 = 14,866 AGE/LIFE METHOD. COST DATA WAS TAKEN u 2APPL.,2 F/P'a,BSMT. FIN. 10,415 FROM THE MARSHALL AND SWIFT COST a Garage/Carport 582 Sq Ft©$ 17.08 = 9,941 HANDBOOK. THERE WERE NO RECENT LOT a Total Estimated Cost New.M/$Y(I FT =$ 186,916 SALES IN THE SUBJECT SUBDIVISION, LOT k- to U Less Physical Functional External Depreciation 43,808 I I _ $ 43,808 VALUE WAS DERIVED FROM THE EXTRACTION METHOD. MEASUREMENTS ARE BASED ON Depreciated Value of Improvements =$ 143,108 EXTERIOR DIMENSIONS AND ARE APPROXIMATE °As -is" Value Site Improvements =$ 12,600 INDICATED of VALUE BY COST APPROACH =$ 190,600 WITH MINOR INSIGNIFICANT VARIATIONS. ITEM I SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3 3627 RANGEVIEW RD Address GREELEY 3618 WAGON TRAIL PL. GREELEY 2498 51ST AVENUE GREELEY 1925 15TH AVENUE GREELEY Proximity to Subject n :' :A1 iNF:ai.%;un,< ELK SOUTHWEST 1.26 MILES SOUTHWEST 1.6 MILES SOUTHEAST Sales Price $ 187,000 .py£k�': ;a�°6 sw%2w�,N $ 208 500�;��; H#i£:'s3it:;.�;,^.,,::%;:<se $ 164 000 "¢:i'3))I%'s%j:e ; ..;.....>,...,.. ,,. .. $ 185;000 Price/Gross Liv. Area $ 68.66m Mr. :it..F $ 99.67 �<sj�?>Yr�3s.;:a�$ 1:'..: 56.01 �`t �`'zl`s%s�%%>'.'s�'s#:H$ MLS/VOL 4-94 PG.#66 COUNTY RECORDS 84.63 ❑14I`��a4Sss'i%r"'-` MLS/VOL 1-95 PG.#43 COUNTY RECORDS Data and/or Verification Sources INSPECTION COUNTY RCRDS NEW HORIZONS REALTY COUNTY RECORDS VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +I -)$Adjustment DESCRIPTION +(-l$Adjustment DESCRIPTION +l -)$Adjustment Sales -or Financing Concessions '0 CONVENTIONAL PTS REALTOR NOT RESPONDING CASH Date al SaleRme . CLSG 6-1-95 10-94 CLSD 3-96 CLSD Location RANGE VIEW RANGE VIEW HIGHLAND HLS EQUAL GLENMERE EQUAL Leasehold/Fee Simple FEE SIMPLE FEE SIMPLE FEE SIMPLE FEE SIMPLE Site 27,960 SF 39,204 SF -5,000 13,392 SF +5,000 22,001 SF View AVERAGE AVERAGE AVERAGE AVERAGE Design and Appeal 4L/AVERAGE 3L/AVERAGE EQUAL 4L/AVERAGE 1S/AVERAGE -5,000 QualityofConstruction AVERAGE+ AVERAGE+ AVERAGE+ AVERAGE+ w 0 Age 29 YRS 31 YRS 23 YRS 47 YRS a Condition AVERAGE GOOD -5,000 AVERAGE AVERAGE a wGross Above Grade Room Count Living Area Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths Total Bdrms Oaths 6 2 1.5 +3,600 8 4 3 8 4 3 9 6 3 2,186 Sq. Ft. +8,700 2,928Sq. Ft. -3,200 2,728 Sq. Ft. 2,092 Sq. Ft. +10,200 E iRooms Basement&Finished Below Grade 1,026 SF 60% FINISHED 1,446 SF 95% FINISHED -4,200 -6,100 828 SF 0% FINISHED +2,000 +4,900 700 SF 100% FIN. +3,300 Functional Utility AVERAGE AVERAGE AVERAGE AVERAGE c4 Healing/Cooling FAU/CENTRAL FAU/CENTRAL HWBB/NONE EQUAL FAU/NONE +600 w Energy Efficient Items DEL PANE WDW SINGLE PANE +2,000 STORM WDWS +1,000 DBL PANE WDW Garage/Carport 2 CAR ATT 4 CAR ATT -4,000 2 CAR DET 2 CAR ATT Porch, Patio, Deck, Fireplace(s), etc. PORCH/PATIOS 2 FIREPLACES PRCH/PAT/DK 1 FIREPLACE EQUAL +1,200 PORCH/PATIOS 2 GAS/LOGS PORCH/PATIOS 1 FIREPLACE +1,200 Fence, Pool, etc. LANDS/SPRKLR LANDS/SPRKLR LANDS/SPRKLR LANDS/SPRKLR HOT TUB 9 0 NONE +900 NONE +900 NONE +900 Net Adj(total) :>iv. n + !^' - $ -10,000 + - $ fj +10,600 n + n - $ +13,200 Adjusted Sales Price of Comparable c �, ;A i.� , $ 198,500 ::.. >V. `!.':<^..., : r e a iC..�4>"'".:,.. tii$ 174,600 ..>y<..... is ?;.;. �g'!t<::e o ':.�':;L"f' ! is r<4i$t`7'�,y..;" $ 198,200 Comments on Sales Comparison (Including the subject properly's compatibility to the neighborhood, etc.):THE CLOSED SALES DISPLAYED WERE CAREFULLY SELECTED AND ARE CONSIDERED THE MOST COMPARABLE AND THE BEST INDICATIONS OF VALUE FOR THE SUBJECT PROPERTY. EQUAL WEIGHT WAS GIVEN TO ALL FOUR COMPARABLES DUE TO THE FACT THEY ALL HAVE SIMILAR NET AND GROSS ADJUSTMENTS. IT IS THE BELIEF OF THE APPRAISER THAT THE ADJUSTMENTS TO ALL COMPARABLES ARE EQUALLY RELIABLE AND THE HEST INDICATORS OF VALUE FOR THE SUBJECT PROPERTY. ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3 Date, Price and Data Source for prior sales within year of appraisal NONE NONE NONE NONE Analysis of any current agreement of sale, option, or listi g of the subject property and analysis of a y prior sales of subject and comparables within one year of the date of appraisal: N/A INDICATED VALUE BY SALES COMPARISON APPROACH $ 190,000 INDICATED VALUE BY INCOME APPROACH (if Applicable) Estimated Market Rent $ N/A /Mo. X Gross Rent Multiplier N/A = $ N/A his appraisal is made � "as is" u subject to the repairs, alterations, inspections, or conditions listed below Li subject to completion per plans and specifications. Conditions of Appraisal: SEE STATEMENT OF LIMITING CONDITIONS Final Reconciliation: THE FINAL ESTIMATE OF VALUE IS BASED ON THE MARKET DATA APPROACH AS THIS APPROACH MOST ACCURATELY REFLECTS THE ACTION OF BUYERS AND SELLERS IN THE MARKETPLACE. COST APPROACH CIS IN AGREEMENT WITH THE SALES APPROACH. INSUFFICIENT DATA FOR INCOME APPROACH. he 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, contingent U.ndlimiting conditions, and market value definition that are stated in the attathed Freddie Mac Form 439/Fannie Mae Form 10048 (Revised 6-93 b • I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OFTHE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF APRIL 21, 1995 w (WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE $ 190,000. ' • •RAISER _ / SUPERVISORY APPRAISER (ONLY IF REQUIRED): Signature / Al to J Signature • Did Did Not , P Name ALAN S ' OVIK Name InspectProperty Date Report S. ' : d APR 21 , 1995 Date Report Signed State Certifi on # C r 1316233 State CO State Certification # State Or State License # State Or State License # State Freddie Mac Form 70 8-93 12CH. PAGE 2 OF 2 Laser Generated Form by EFS Software (619) 942-3100 Fannie Mae Form 1004 8-93 SALES COMPARISON ANALYSIS File No. 036.95 ITEM SUBJECT COMPARABLE NO. 4 COMPARABLE NO. 5 COMPARABLE NO. 6 3527 RANGEVIEW RD Address GREELEY 2317 FAIRWAY LANE GREELEY Proximity to Subject ..........:.......: ..... .. .. .... .. ....... ..... .... .... 1 . 5 MILES SOUTHWEST. 7 $ 1 3 ...... 000 r•�...: .. � ::�•>:«.: Y, . ,.� . $ Sales Price S s $ 187 OQO $ Price/Gross Liv. Area $ 68.55 @ $ 81.76 1:11 Negibl $ � :.... ..: _ ...; S Data Source Verification Source INSPECTION COUNTY RCRDS MLS/VOL 4-94 PG.#57 COUNTY RECORDS VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION •(-)SAdjustment DESCRIPTION +(-}SAdjustroent DESCRIPTION +(-)SAdfusiment Sales or Financing Concessions ::#: "s`≥`>'" r•':>,',`°'! ' rti Q''s'? ti'`s> CONVENTIONAL 0 PT S Date of Sale/Time "'' '' } w.••:,:f::z•:�s:�Wa�:•`•s:<w�': 6-94 CLSD EQUAL Location RANGE VIEW HIGHLAND HLS EQUAL Leasehold/Fee Simple FEE SIMPLE FEE SIMPLE cn Fij Site 27,950 SF 11,204 SF +5,000 View AVERAGE AVERAGE z Design and Appeal 4L/AVERAGE 4L/AVERAGE a Duality of Construction AVERAGE+ AVERAGE+ o Age 29 YRS 19 YRS C/3 Condition AVERAGE AVERAGE cc a Above Grade a. Room Count ri o Gross Living Area Total Bdrms Baths Total Bdrms Baths +1,800 +9 , 800 Total Bdrms Baths Total Bdrms Baths 8 4 3 8 E & 2.26 2,728 Sq. Fl. 2 , 116 Sq. Ft. Sq. Ft. S. Ft. to Basement & Finished ui Rooms Below Grade 1,026 SF 60% FINISHED 754 SF 70 FINISHED +2,700 e yr Functional Utility AVERAGE AVERAGE Heating/Cooling FAU/ CENTRAL FAU/ CENTRAL Energy Efficient hems DBL PANE WDW DBL PANE WDW Garage/Carport 2 CAR ATT 4 CAR ATT -4,000 Porch, Patio, Deck, Fireplace(s), etc. PORCH/PATIOS 2 FIREPLACES PRCH/PAT/DK 1 FIREPLACE +1 , 200. Fence, Pool, etc. LANDS/SPRKLR LANDS/SPRKLR .______ HOT TUB p900 NONE I +900 Net Ad'. tutelar:;: ;:#s:};:;<gi #:;:sar-:-.. ' i? a. nn -+17,400- X +...1,;,,1.;.: $ �. * $ ;.• S �,� n� l�, Adjusted 5 r L ,S,:`':,)]$� ��.i' MC y� v �tiT. ,:<S ;., •,�•7G ?i',;f. ��, of Comparable ............................... ¢x•'a% ,ry ,{ S :: :� •�!>F:sa'�� C; :.,:..,ii} }i.: i}:Y:: E 190,400 ..,�" r • < iNiF,f. i:i: ::{�.}:}:�:::�.}�ltin�:i" :'<.»`:;:: t:�!;4s(;.; $ {rr „ r:. }'iGy Y'i. <.; �:::..7 ,J. •: }if'�: .}1.�y . ,...•':>sass::•sr`.≥�i4a7,t $ Date, Price and Data Source for prior sales within year of appraisal NONE NONE omments• ALMLNffM Freddie Mac Form 70 6-93 12CH. PAGE 3 Fannie Mae Form 1004 Laser Generated Form by EF.S Software (619) 942-3100 ADDENDUM ADDITIONAL COMMENTS COMMENTS - SALES COMPARISON: The closed sales displayed were carefully selected and are considered the most comparable and the best indications of value for the subject property. Equal weight was given to all four Comparables due to the fact they have similar amount of net and gross adjustments. It is the belief of the Appraiser that the adjustments to all four Comparables are equally reliable and the best indicators of value for the subject property. MARKET COMPARISON FINANCIAL ADJUSTMENTS: SITE: Comp. #1 was allocated a MINUS adjustment do the smaller lot size of the subject property. Comps. #2 & #4 were allocated a PLUS adjustment due to the larger lot size of the subject property. CONDITION: Comp. #1 was allocated a MINUS adjustment due to the inferior condition of the subject property. GLA: Comps. #1, #3 & #4 were allocated a PLUS adjustment due to the larger GLA of the subject property. Comp. #2 was allocated a MINUS adjustment due to the smaller GLA of the subject property. ALL OTHER ADJUSTMENTS ARE OF NORMAL FACTORS MAP ADDENDUM File No. 036.95 Borrower/Client DAVIET, MARK S. & MARY P. Property Address 3527 RANGEVIEW ROAD City GREELEY County WELD Lender 1ST CHOICE BANK OF GREELEY State CO Zip 80634 SUBJECT PROPERTY 32' W N C 3 D - _ C L (13A31 a2JE ) Z W0021 A1IWVA el/A % \ o \ 13A31 1N3w3SV =„t,t7z x,EE 13A31 (lac W -01 X 01 -H x Z 7J Nx x Ul N r N� a -mm Wm = r A r O II !I H 0010 J -N 01 W N 3NI1 13A31 213M01 3'6" W2JQ8 disk HIVE 11(1J to mmmmmr 4'8" 33'7" (13A31 213ddf1) w0021 9NIAI1 >0 70 H M DH z Gl C z - (13A31 NIVW) C 7C7 N Q 3 W Tar CD OC Z 0 70 W0021 DNINIa 7\ n z m z co G1 N D 7a n DD Cl 70 m D N --I OD -c] lam 0 24' Laser Generated by EFS Software (819) 942-3100 SUBJECT PHOTOGRAPH ADDENDUM File No. 936.95 Borrower/Client DAV IET , MARK S. & MARY P. Property Address 3527 RANGEVIEW ROAD City GREELEY County WELD Lender 1ST CHOICE BANK OF GREELEY Slate C 0 Zip 80634 ❑ ADDITIONAL PHOTOGRAPHS ON REVERSE SIDE FRONT OF SUBJECT PROPERTY REAR OF SUBJECT PROPERTY STREET SCENE Lass Generated by EFSSrrtlwa'e iet7194i-.l36 COMPARABLE SALES PHOTOGRAPH ADDENDUM File No. 036.95 Borrower/Client DAVIET , MARK S. A MARY P. Property Address 3527 RANGEVIEW ROAD City GREELEY County WELD Lender 1ST CHOICE BANK OF GREELEY - State CO Zip 80634 ❑ ADDITIONAL PHOTOGRAPHS ON REVERSE SIDE COMPARABLE SALE # 1 3518 WAGON TRAIL PL. GREELEY COMPARABLE SALE # 2 2498 51ST AVENUE GREELEY COMPARABLE SALE # 3 1925 15TH AVENUE GREELEY Lasr Cienerai d by Li31939c1-1100 COMPARABLE SALES PHOTOGRAPH ADDENDUM Borrower/Client DAVIET , MARK S . & MARY P . Property Address 3627 RANGEVIEW ROAD City GREELEY County WELD State CO Zip 80634 Lender 1ST CHOICE BANK OF GREELEY ❑ ADDITIONAL PHOTOGRAPHS ON REVERSE SIDE COMPARABLE SALE # 4 2317 FAIRWAY LANE GREELEY COMPARABLE SALE # 5 COMPARABLE SALE # 6 Laser Generated by EFS Software (61 9) 942-1100 MAP ADDENDUM Borrower/Client DAVIET, MARK S. k MARY P. nm r NU. I/ JO VP Property Address 3527 RANGEVIEW ROAD City GREELEY County WELD State CO Zip 60634 Lender 1ST CHOICE BANK OF GREELEY LOCATION MAP ... " E a 3NC- -,>� yin N JAY N ¢p rinflj H F o iE. yW w[1 e� _3nr_ z wn II��Cm tallite S41y1 3nrm VIII _?Wt ri N 3nr 4151 SAY I\\ Vj?z 1J 3T' VISI i I 11 V o, Otl augv 4. P E � 091. 3UJrbrol wJ 13 3nr �, 0oelr;.f1I60 1 j II O V191 .... .. 3AY1 to t 3/Y V161 4,16 1I' cane .94tc; o5 3AY p45C pee._ -- SIrz 3nY m41Si 3A 5/50 T 11192 J atr Yrsi Y ton Na L 3A .. 3AV �.- ?AV u083., ' 3Atl V16L! ¢u m 3nr =cID6 VIOL vi MC l :Y ' 1J 2Ip6r. 3Atl Ny V102' nIJ46/HSIIM ryi 3315 °T'ISir '0'W3V1ofn1[. 3,5y! iS mC Ob ” '3'16 PPCC o f b 4i; ^a°o I JAY Fit`^ ix 3/Wt .Vir C. .. t/1.25 "1 i SJ 3AY VIII H 5105 3.Y3109. 3nY nig 10 3Atl ut9 SAYP.259 . J h (Ofn. J 3 5°15 utg : b+P35 10 3AY ec „j, owtt E 3Atl pit; +` 1>3nV• 424o; 0N 1OIY, 3AVV19L "15 UI 3Atl VIII ... 10 3nr 4Z SAY 3n V V \i 101 3Atl I'I"' en,419L� 1J j—,3001 i ` I{ :533 : w m 0-181 4 l 3)IY nr�rmxrc�J v3AV r 19 Ay.:FV Laser Generated by EFS Software 16 19) 942-3100 MULTI -PURPOSE SUPPLEMENTAL ADDENDUM FOR FEDERALLY RELATED TRANSACTIONS Borrower/Client DAVLET MARK S t MARY P Property Address 3527 RANCEVTEir ROAD City GREELEY Countyymra8 state CO Zip Code 80634 Lender ST CHOICE BANK OF GREELEY This Multi -Purpose Supplemental Addendum for Federally Related Transactions was designed to provide the appraiser with a con- venient way to comply with the current appraisal standards and requirements of the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of Currency (0CC), 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 ].TURFIO.S,Eg& 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 the subject property for lending purposes. This is a Federally related transaction. SAL PRO. 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, if available. The original source is presented first. The sources and data are considered reliable. When conflicting information was provid- ed, 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. ® The Reproduction Cost is based on MARSHALL SWIFT COST HANDBOOK supplemented by the appraiser's knowledge of the local market. 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 on 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. 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. ❑ 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. PROPERTY OFFERING INFORMATI iN According to JiRUCR WIL.t.ARD/AUSTIN & AUSTIN REALTY ❑ basso/bees offered for sale in the past 30 days. ❑ iscurtexUyoffered for sale for $ ® was offered' for sale within the past 30 days for $ 187 000. ❑ Offering information was considered in the final reconciliation of value. ® Offering information was not considered in the final reconciliation of value. ❑ Offering information was sot arar7able, The reasons for unavailability and the steps taken by the appraiser are explained later in this addendum. the subject property: According to COUNTY RECORDS ❑ basnottransterrad in the past tweleve months. ® hasnottraasferred in the past 36 months. ❑ hastrans(errrd in the past tweleve months. ❑ has transferred in the past 36 months. ❑ All prior sales which have occurred in the past months are listed and reconciled to the appraised value, either in the body of the report or in the addenda. the subject property: Date Sale Price Document # Seller N/A Buyer ® Subject property kilo/located in a FEMA Special Flood Hazard Area. ❑ Subject property is located in a FEMA Special Flood Hazard Area. Zone FEMA Map/Panel # ZONE C 08018400028 Map Date Name of Community 7-79 GREELEY ® The community dcesPot p:rrticIjate in the National Flood Insurance Program. ❑ The community aoespnrticipate in the National Flood Insurance Program. ❑ It is covered by aregula• program. ❑ It is covered by an emergency program. Pave 1 of 2 Copyright 1991, EFS Software MPA Rev 10191 036.95 ❑ The subject property is curteatfynot under cosfract ❑ The contract and/or escrow instructions wernot available for review..The unavailability of the contract is explained later in the addenda section. The contract and/or escrow instructions were reviewed The following summarizes the contract: Contract Date Amendment Date Contract Price Seller 4-5-96 N/A 187,000 CARTER, DOUGLAS BRYANT 11 The contract indicated that personal property warnotiaduded in the sale. The contract indicated that personal property was included It consisted of MICROWAVE OVEN A OUTDOOR GAS GRILL Estimated contributory value is $ Personal property was cotindudcd in the final value estimate. Personal property wasiaduded in the final value estimate. The contract indicated gotiaandngconcessioas or other incentives. The contract indicated the iollowingconcessions 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, UNDER 6months is considered a reasonable marketing period for the subject property based on CURRENT MARKET DATA. 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 the predetermined value or direction in value that favors the cause of the client, the amount of the value estimate, the attainment of astipulated result, or the occurence 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. ADDIiIG NAL (ENVIRONMENTAL) LIMITING CONDITIONS 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 wouldreveal the existence of hazardous substances or detrimental environmental conditions on or around the property that would negatively affect its value. AAppriiJSEW$ S Appraiser's Signature Appraiser's Name (print) State CO G R. VcENSE/cERTIHICATaQN 2< Effective Date 4-2t-95 Date Prepared 4-21-95 Phone # (970) 352-6340 .ice ®Certification# CR01316233 Tax ID# 545-17-8017 ❑ The co-signing appraiser has personallyinsµectw'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 ofhe 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 Rot pasonallaspecled the interior of the subject property and: has sot Inspected the exterior of the subject property and all comparable sales listed in the report. has inspcted the exterior of the subject property and 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 ac- cepts 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. ❑ 350 CO—SIGNINGAPPl AISEI' ; SIGNATU I do IJCENSEtCEEITIfICATION Co -Signing ..::.:..:..::.::...:::..: Appraiser's Signature Co -Signing Appraiser's Name (print) State ❑License ❑Certification # ❑ Trainee Tax ID # Effective Date Date Prepared Phone # ( ) Paps 2 of 2 Copyright 1991, EFS Software MPA Rev 10/91 DEFINITION OF MARKET VALUE: The most probable price which a property should bring in°ea 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 adjustments should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustments should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the following conditions: 1. The appraiser will not be responsible for matters of a legal nature that effect 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 the approximate dimensions of the improve- ments and the sketch is included only to assist the reader:of the report in visualizing the property and understand- ing 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 property between land and the improvements in the cost approach to the value on the basis of the existing use of the property. These separate valuations 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, but not limited to, 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 environ- mental conditions (including the presence of hazardous wastes, toxic substances, etc.) that would make the prop- erty more or less valuable, and has assumed that there are no such conditions and makes no guarantees or war- ranties, 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 the sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsiblity 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 all (or any part) of the content of the appraisal report (including conclusions about the property value, the appraiser's identity and professional designa- tions, and references to any professional appraisal organizations or the firm with which the appraiser is associ- ated) 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 1004B 6-93 APPRAISER'SU..RAIt'IUA iU.:.: ...aeippra1Jetle:__.cau_cag___ rile 1. I have researched the subject market area and have selected a minimum of three recent sales of properties most simi- lar and approximate 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. 2.1 have taken into consideration the factors that have an impact on value in my development of the estimated 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 con- clusions, 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 prop- erty. 6.1 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 occurence of subse- quent event in order to recieve my compensation and/or employment for performing the apraisal. 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 market value and the estimate I developed is consistant with the marketing time noted in the neighborhood section of this report, unless I have otherwise stated in the reconciliation section. 8.1 have personally inspected the interior and exterior areas of the subject property and the exterior of all proper- ties 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 individuals) 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: If a supervisory appraiser signed the appraiser 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 responsibilty for the appraisal and the appraisal report. ADDRESS OF PROPERTY APPRAISED: 3527 RANCEVIEW ROAD APPRAISER: / SUPERVISORY APPRAISER (only if required): Signature: / /2t1/5 Signature: Name: ALAN ROV Name: Date Signed: PRI 21, 1996 Date Signed: State Certificatio _: CR01316233 State Certification #: or State License : or State License N: State: CO State: Expiration Date of Certifcation or License: 12-31-96 Expiration Date of Certifcation or License: ❑ Did ❑ Did Not Inspect Property Freddie Mac Form 439 6-93 Page 2 of 2 Fannie Mae Form 1004B 6-93 .475 t.;? 5 BOE SUMMARY SHEET DAVIET MARK S & MARY PATRICIA 3527 RANGEVIEW RD GREELEY, CO 80634 HEARING DATE: July 25, 1997 HEARING ATTENDED? (Y AGENT NAME: APPRAISER NAME DECISION: Land PIN #: R2108186 PARCEL #: 095911408003 TIME: 10:30 a.m. NAME'S /1,C_a_2,4 Improvements OR Personal Property Total Actual Value COMMENTS: 11 MOTION BY (1)I\ TO ACTUAL VALUATION ORIGINAL $ 60,000 SET BY BOARD enr gym' 149,494 /W.1.3)500 $209,494 ,ges,`7) SECONDED BY bLc Failed to prove appropriate value No comparables given Increase/Decrease in Valuation Assessment Ratio Other: Hall -- (Y/N) Kirkmeyer -- (0 Webster -- (Y/N) I Harbert -- (Y/N) Baxter -- RESOLUTION NO _ 971473 W1�Yc 00/144 COLORADO July 16, 1997 DAVIET MARK S & MARY PATRICIA 3527 RANGEVIEW RD GREELEY, CO 80634 Dear Petitioner(s): CLERK TO THE BOARD PHONE (970) 356-4000 EXT.4225 FAX: (970) 352-0242 915 10TH STREET P.O. BOX 758 GREELEY, COLORADO 80632 Parcel No.: 095911408003 PIN No.: R2108186 The Weld County Board of Equalization has set a date of Friday, July 25, 1997, at or about the hour of 10:30 a.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; peitioners 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, 1997, and mailed to you on or before August 10, 1997. Because of the volume of cases before the Board of Equalization, all cases shall be limited to 15 minutes, of which you will be allowed 10 minutes for your presentation. 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. DAVIET MARKS & MARY PATRICIA - R2108186 Page 2. 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. 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 D. Clerk to the Board BY: Carol A. Harding Deputy Clerk to the Board cc: Warren Lasell, Assessor Hello