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Home My WebLink About950924.tiffFORM 920 (66-93) PETITION FOR ABATEMENT OR REFUND OF TAXES Must be flied In duplicate and all questions must be answered. Petitioners: Complete this side only. aRFFT,FY , Colorado, FERRITARY 17 , 19 Q5 City or Town lb The Honorable Board of Commissioners of Gentlemen: The petition of 111NE WATSM1 whose mailing address is: 205 RR(14T) STRFRT MIT TT 1 City or Town WET T) County CO 80 543Zip coda State SCHEDULE NUMBER DESCRIPTION OF PROPERLY AS LISTED ON TAX ROLL R 0332994 MIL 22077 BLK 47 EXC...M&B respectfully requests that the taxes assessed against the above property for the years A.D. 19 9/i , 19_, are erroneous, illegal, or due to error in valuation for the following reasons: Describe specifically the circumstances surrounding the incorrect value or tax, including owner's estimate of value. (Attach additional sheets if necessary) VALUE OF PROPERTY TOO HIGH. OWNER HAS APPRAISALS FOR 1991 ($49,000) AND 1992 ($51,000). OWNER FEELS VALUE SHOULD BE $50,000 LESS VALUE OF VACANT LOTS SOLD IN 1994, or $41,250. C. MILL LEVY .128557 19 94 Value Tax 19 Value Tax Orig. 7980 $1,025.88 Abate. 2h70 $ 343 24 Bal. 5310 $ 682.64 Therefore the petitioner requests that the taxes may be abated or refunded in the sum of $ 343.24 I declare, under penalty of perjury in the second degree that this petition, together with any accompanying exhibits or statements, has been examined by me and to the best of my knowledge, information and belief is true, correct and complete. W21 fit J 91/Lon it ee�Petitionerera, 1 b By w �� 1._ Daytime phone number, 5S S Agentoma Every pain for abatement or refund filed pursuant to section 39-10-114 shall be acted upon pursuant to the provisions of this section by the board of county commissioners or the assessor, as appropriate, within six months of the date of filing such petition. 39-1-113(1.7), C.R.S. Address205 BROAD STREET, MITLIKEN. CO 80543 &- A -s; Pnr/%latie2 HO 950924 A -e9(4- /L f CA --e Complete Either Section I or Section II RESOLUTION OF COUNTY COMMISSIONERS Section 1: In accordance with 39-1-113(1.5) C.R.S., the commissioners of County authorize the assessor to review petitions for abatement or refund and to settle by written mutual agreement any such petition for abatement or refund in an amount of one thousand dollars or less per tract, parcel, or lot of land or per schedule of personal property. County Commission Resolution # The assessor and petitioner mutually agree to an assessed value of $ for $ total tax for the year(s) 19 and an abatement/refund of $ Petitioner's Signature Date Assessor's Signature Date If Section I is not complete and/or if petition is for more than $1,000, Section II must be completed. Section II: Assessors's recommendation: ❑ approved; ❑ approved in part $ denied for the following reason(s) CS"ci ii2-vz_P-(4)eI - ° COL( tlt,t « _ea &Ua CSC vG Assessor WHEREAS, The County Comm ssioners of Wel d County, State of Colorado, at a duly and lawfully called regular meeting held on the 19th day of April , A D. 1995 , at which meeting there were present the following members: Chairman Dale K Hall and Commissioners George E. Baxter. Constance L. Harhert,-_and Barbara I Kirkmeyer. with Commissioner W. F. Webster absent notice of such meeting and an opportunity to be present having been given to the taxpayer taxpayerde a Assessor of said County and said Assessor Warren Tinsel (name) representative Roy Watson being present; and (name) WHEREAS, The said County Commissioners have carefully considered the within application, and are fully advised in relation thereto, NOW BE IT RESOLVED, That the Board nnrnrs or concur) edwith the f co 'ufteIdation of (c By: Dep. Assessor the assessor and the petition be approved or denial)) ovedpart , and an abatement refund he al allowed orned otbe allowed) on an assessed valuation of $ 2 193 for $ 281 93 total tax for the year(s) 19 94 . Chairman of Board of Cdunty Comitlissioners STATE OF COLORADO, 1 ss. County of Weld J I, Donald D. Warden CuCcezatreierknairsirEvofireicK Clerk of the Board of County Commissioners in and for the County of Weld State of Colorado, do hereby certify that the above and foregoing order is truly copied from the records of the proceedings of the Board of County Commissioners for said Weld County, now in my office. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said County, at Greeley. CO , this il.AtIn day of AD i-, AD. Clerk to the Board DeputyClerk to the Board ACTION OF THE PROPERTY TAX ADMINISTRATOR Denver, Colorado, 19 The action of the Board of County Commissioners, relative to the within petition, is hereby ❑ approved; ❑ approved in part $ ❑ denied for the following reason(s) Secretary Property Tax Administrator PETITION FOR ABATEMENT OR REFUND OF TAXES ATTACHMENT SCHEDULE NUMBER R 0332994 JUNE WATSON At the regular meeting of the Board of Weld County Commissioners held on the 19th day of April, 1995, Warren Lasell, Weld County Assessor did amend his original recommendation concerning PIN #R0332994 for the year 1994 as follows: Value recommended Original 7,980 Abatement 2,193 Balance 5,787 Tax recommended $1,025.88 $ 281.93 $ 743.96 Therefore, the Assessor does recommend taxes be abated or refunded in the sum of $281.93. 6 VID€. COLORADO March 22, 1995 June Watson 205 Broad Streeet Milliken, Colorado 80543 RE SCHEDULE NUMBERS R4608386 and R0332994 CLERK TO THE BOARD P.O. BOX 758 GREELEY, COLORADO 80632 (303) 356.4000 EXT. 4225 Dear Property Owner: This is to advise you that the Weld County Board of Commissioners will hear your petitions for abatement or refund of taxes on the property described as: MIL 22077 BLK 47 EXC...M&B. The meeting is scheduled for Wednesday, April 5, 1995, at 9:00 a.m., at which time you may be heard. You are required to submit any supporting documentation regarding these petitions to the Office of the Clerk to the Board and to the Weld County Assessor's Office at least seven calendar days prior to the meeting date in order for it to be considered at said meeting. The Assessor is recommending that the Board deny your petitions. The meeting will be held in the First Floor Meeting Room, Weld County Centennial Center, 915 10th Street, Greeley, Colorado, at the above specified time. If you have any questions concerning this matter, please do not hesitate to contact this office. Sincerely, ,a49,oia Donald D. Warden, Clerk to the Board By: 6 - Deputy Clerk to the Boar cc: Assessor - W. Lasell County Attorney BUILT UP GROWTH RATE PROPERTY VALUES DEMAND/SUPPLY MARKETING TIME PRESENT LAND USE % Single Family 70 2-4 Family Multi -family Commercial Industrial Vacant Note: Race or the racial composition of the neighborhood a e not considered reliabl COMMENTS: Located in a town of 1700, 10 miles SL high_ taxes because of it. Streets in town wer having a positive effect on property values. ears & isn't expected to change.Prope 30 „• 15c&]. Property Description 8 Analysis UNIFOvri RESIDENTIAL APPRAISAL SPORT File No. LENDER DISCRETIONARY USE Sale Price $ Date Mortgage Amount $ Mortgage Type Discount Points and Other Concessions Paid by Seller $ PropertygddFss 205 Broad Street City Mill r k e n County Lie l d Legal Description Lenght — see attached Owner/Occupant June & Roy Watson Sale Price $ n /a _ Date of Sale n/ a Loan charges/concessions to be paid by seller $ n /a R.E. Taxes $1238.12 Tax Year1987 HOA $/Ma 0 Lender/Client Associates Finance Co., 676 West 84th Ave., Thornton, CO 8D22t LOCATION -1 Urban Over 75% Rapid Increasing Shortage Under 3 Mos. Census Tract 2 State co Zip Code 80543 LAND USE CHANGE No Likely Likely In process To: H Lx] Suburban x 25-75% Stable Pxr Stable ❑ In Balance 3-6 Mos. PREDOMINANT OCCUPANCY Owner Tenant j 1 Vacant (0-5%) ) x Vacant (over 5%) x Dimensions 137.667' X 125' Site Area 17208 So . Ft , Zoning Classification ( R-1 ) Res i dent i a l HIGHEST & BEST USE: Present Use Yes UTILITIES Public Other Electricity Gas Water Sanitary Sewer Storm Sewer Zone COMMENTS (Apparent adverse easements, en roachments, special assessments, slide areas, etc.): There is a A shallowa/well on the site used for_ lawn watering. Street assessments are owing against the proprerty. It is located from the school on a maion, but quiet street, No adverse conditions noted. GENERAL DESCRIPTION EXTERIOR DESCRIPTION x Map Reference N i 1 7 r ken PROPERTY RIGHTS APPRAISED x Fee Simple fl} Leasehold Condominium (HUD/VA) De Minimis PUD ri Rural ri Under 25% Ri Slow Declining Over Supply x x Over 6 Mos. SINGLE FAMILY HOUSING PRICE AGE $ (000) (yrs) 20 Low 7 60 High 80 Predominant 37 — 40 appraisal factors. of Greeley. e recently p Development alues are dow n/a Source NEIGHBORHOOD ANALYSIS Employment S ability Convenience to Employment Convenience to Shopping Convenience to Schools Adequacy of Public Transportation Recreation Facilities Adequacy of Utilities Property Compatibility Protection from Detrimental Cond. Police & Fire Protection General Appearance of Properties Appeal to Market Good Avg. Fair Poor x H x x x x x f-1 x 1 n The area has a good school system,bu- aved increasing the tax burden withou in the area has been slow for about 10 n from previous highs,but appear stabl Topography Size Shape Drainage View Landscaping Driveway Apparent Easements FEMA Flood Hazard Yes' Corner Lot Yes a 01 i ye Zoning Compliance Yes Other Use No SITE IMPROVEMENTS Type Street Asphalt Curb/Gutter Concrete Sidewalk None Street Lights Alle Pole mounted Unpaved along N n Public ri Private Level Larger than typical Rectangular Appears adequate Typical for area ain/Attractive Concrete Typical P1 S No Units Stories Type (Det./All ) Design (Style) Existing Proposed Under Construction Age (Yrs.) L 3 Effective Age (Yrs.) 11 ROOMS Foyer Basement Level 1 Level 2 One One Detached Ranch Yes No No Living Foundation Pr d. conc Exterior Walls Br/kld sdq Roof Surface Comp. shg Gutters & Dwnspts. None Window Type Storm Sash Screens Manufactured House Dining Finished ar a above grade contains: SURFACES Floors Walls Trim/Finish Bath Floor Bath Wainscot Doors Kitchen FOUNDATION Slab Crawl Space Basement Sump Pump Alum s 1 1 de Dampness Aluminum Settlement Yes _ Infestation No Den Fa oily rim No No Yes No No No No BASEMENT Area Sq. Ft. 1160 Finished 25 Ceiling Acoustic Walls Wood pane Floor Concrete Outside Entry No across INSULATION _ Roof Ceiling Walls Floor None Adequacy Avg Energy Efficient Items: Storm door Rec.Rm Bedrooms Baths Laundry Other .5 1 Assumed Area Sq. Ft x 1160 160 5 Materials/Condition Carpet/Vinyl—A Drywall —Avg Avg/Avg Vinyl —Avg_ Ceramic —Avg Hollow core — wood stained Fireplace(s) Br i c CAR STORAGE. No. Cars 2 Condition Avg Additional features: Wood Garage Carport None x n Rooms; 3 Bedroom(s)- 1 HEATING KITCHEN EQUIP. Type HLIBB Refrigerator Fuel Gas Range/Oven Ed Condition AQ Disposal Adequacy A v q Dishwasher COOLING Fan/Hood Central Non e__ Other Condition n /a Adequacy Avg Attached Detached Built -In enced •ard, x x Compactor Washer/Dryer H Microwave Intercom [l Adequate x r -1 Inadequate 11 Electric Door ceiling fan in ATTIC None Stairs Drop Starr Scuttle Floor Heated Finished Bath(s); 1160 P H House Entry J Outside Entry 1 Basement Entryr] IMPROVEMENT ANALYSIS Quality of Construction Condition of Improvements Room Sizes/Layout Closets and Storage Energy Efficiency Plumbing -Adequacy & Condition Electrical -Adequacy & Condition Kitchen Cabinets -Adequacy & Cond. Compatibility to Neighborhood Appeal & Marketability Estimated Remaining Economic Life Estimated Remaining Physical Life LR, bath fan patio. Square Feet of Gross Living Area Good Avg. Fair Poor r1 44 n/a x x x x x x x LJ Yrs. Yrs. Depreciation (Physical, functional and external inadequacies, repairs needed modernization etc): The property exhibit s average ownership and care. The exterior trim needs paint & the roof has some broken shingles. pride Estimated cost to cure 2800. _ _ --- of General market conditions and prevalence and impact in subject/markel area regarding loan discounts interest buydowns and concessions: The local is favorable to buyers with only well priced properties selling. Seller concessions to facilitate sales are common. Marketing times of 6 mos. to 1 year are to be expected in, l0 1(1/H(; 12Ch. UDC, rn.m market CA PRAISAL REPORT File No. 3 323338 vaivan an aec..v.. �.�.. �..... ..--_-- Purpose of Appraisal is to estimate Market Value as defined in the Certification & Statement of Limiting Conditions. BUILDING SKETCH (SHOW GROSS LIVING AREA ABOVE GRADE) If for Freddie Mac or Fannie Mae. show only square fool calculations and cost approach comments in this space. ESTIMATED REPRODUCTION COST -NEW -OF IMPROVEMENTS: Dwelling 1160 Sq. FL $ 34 = $ 39440 . Basement 1160. Sq. Ft_i $ 9 = 10440 BUILDING MEASUREMENTS: Extras Fireplace = 1400 Ft 29' X 40' r 1160 Sq Special Energy Efficient Items = Porches, Patios, etc. = 1000 handbook. Garage/Carport 552 Sq. Ft. $ 10 = 5520 Cost figures based on Marshall and Swift - Total Estimated Cost New = $ 57800 • Physical Less Depreciation 10404 Functional External 5780 = $ 16184 Depreciated Value of Improvements = $ 41616 Site Imp. "as is" (driveway, landscaping, etc.) _$ 5000 U Obsolescence noted due to slow overall roar Let ESTIMATED SITE VALUE = $ X000 conditions in town. (If leasehold, show only leasehold value.) INDICATED VALUE BY COST APPROACH = $ 54616 (Not Required by Freddie Mac and Fannie Mae) iJ Yes No Construction Warranty Yes x No Name of Warranty Program Does property conform to applicable HUD/VA property standards? Warranty Coverage Expires If No, explain: The undersigned has recited three recent sales of properties most similar and proximate to subject and has considered these in the market analysis. The description includes a dollar me compprop e is infer osuperior item hcomparable adjustment, reflecting market reaction to those items of significant variation between the subject and comparable properties If a significant to, or more favorable than, the subject property, a minus t—) adjustment is made. thus reducing he indicated value of subject, if ifsignificant or less favorable than, the subject property, a plus (+1 adjustment is made. thus increasing the indicated value of the subject. ITEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO.2 COMPARABLE NO.3 205 301 South Grace Av., 200 North Olive) CO 205 South Norma St., Mi11ikens CO —, Address -- - Mill 'ken CO Milliken, Subject II t ill I Proximity to 3� $, $ $_ Sales Price $ $ Price/Gross Liv. Area $ Z$ Data Source -.I MLS/A0 MIS _Realtor/Appraisal Adjustmen( VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION , HS Adjustment DESCRIPTION i et -)5 Adjustment DESCRIPTION • (-15 Sales or Financing Concession FnHA FmHA I FHA _ Date of Sale/Time Current 1/88 DOM 18 12/87 DOM 40 6/88 n/a 0 Location MI iken Simil tar Sirnil iar Sirnil iar r H Site/View Large/Avg Pt.1awn/Avg +2000 Avg/Avg +1500 Pt.1awn/Avg +2000 Design and Appeal Ranch/ Avg Ranch/Avg Ranch/Avg Bilevel/Avg +1000 a Z Quality of Construction Frame/Avg Frame/Avg 1 Frame/Avg Frame/Avg a Age 1975 1979 1975 1979 0 Condition Avera e Good -1500 Good -1500 Average Total Bdrms earns Total Bdrens Baths Total t Bdrms i Baths N Above Grade , Total i Berms i Baths i CC 5 3' 1 4 2 1 Room Count 5: 3 1 5' 2' 1 Sq. Ft. +6500 ict 6 Gross Living Area 1160 Sq. Ft. 900 Sq. Ft. +4500 936 Sq. FL +4000 794 o Basement&Finished O Rooms Below Grade 1160 SF -25% Built on +6000 slab Crawl space +6000 768 SF - 35;t Garden 1 vl . Utility —r Average Average Average WFunctional J Heating/Cooling Average HWBB/None EBB/None : +1500 FANG/None EBB/none 1`00 0 Garage/Carport 1 ear garage: +1500 1 car garage +1500 1 car garage +15 Porches, Patio, Pools, etc. 2 car Fence,patio garage Patio Fence,shed. Fenceldeck, pat to Special Energy Efficient Items Storm sash FmHA standards FmHA standards FrnHA standards Fireplace(s) Pons +500 none +500 Won st nve Other (e.g. kitchen remodeling) equNet cm nl one none none none , II��II��I ��I + -_ $ 14500 x + $ 17000 x + -is 17500 Net Adj. (total) } V dSabjed Value of Subject $ 53500 $ 54000 1 $ 5 1500 L f. 1 tc• c.]1eS Comments on Sales Comparison:Comp se ection is limited due to the snap size of too w c mi data. Como 3 had a motivated seller 8 appears to be at low market. EBB heat not preferr&A. to high operating costs. Financ nq was typical. No better sales available. 53000 INDICATED VALUE BY SALES COMPARISON APPROACH $ _ 13 A ill INDICATED VALUE BY INCOME APPROACH (If Applicable) Estimated Market Rent S /Mo. x Gross Rent Multiplier = 5 This appraisal is made x "as is" `J subject to the repairs, alterations, inspections or conditions listed below completion per plans and specifications. Comments and Conditions of Appraisal: The income approach wasn't prepared due to inadequate local rental data Appliances and eauiptment were assumed operable on date of inspection. Final Reconciliation: Most weight on the market data approach as it compares stall) tar properties in today's market. Less weight on the cost approach due to difficulty of estimating accrued depreciation. Most weight on comps 1 & 2 due to design. ESTIMATED QUICK SALE VALUE $32000. This appraisal is based upon the above requirements, the certification, contingent and limiting conditions, and Market Value definition that are stated in FmHA, HUD &/or VA instructions. n 19 attached. Freddie Mac Form 439 (Rev.7/86)/Fannie Mae Form 10048 (Rev.7/86) filed with client 88 to he $ at53tached, I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE SUBJECT PROPERTY AS OF October 26th , 19 00. I (We) certify: that to the best "y�m (our nowledge and bejdf)he facts and data used herein are tine and correct; that I (we) personally inspected the subject property, both inside and out, and have, n( ape an x erior inspectional c i arable sales cited in this report, and that I (we) have no undisclosed interest, present or prospective therein. !.,./ — r„ 1 [ Did r� Review Appraiser SIGNATURE Did Not Appratser(s) NAME SIGNATURE - Inspect Property (if applicable) NAME NAME Rirh . d M. oos as - r,nnic Maefonn 1004 10,86 Freddie Mac Form 70 10/86 1RCR uo F3 Forms and W In'-.` 315 Whitney Ave., New Haven, C7 06511 1(600) bas item b U0960 Properly Description & Analysis ""`""'°UIVIFUMNwnw,. Property Address 205 Broad st. Census Tract 0021-155------ - LENDER vra..,.o,..,....... _ City Milliken County_Weld State CO Zip Code 80543 Sale Price S al Description Lots 12,13,14,15 & 16 and the E.2.7'of Lot 17, Block 47 Date I Leg Owner/Occupant Watson, Roy & June Map Reference 3060 Mortgage Amount $ Price $ N/A Date of Sale N/A PR[O�PERLY RIGHTS APPRAISED Mortgage Type Sale charges/concessions to be paid by seller $ N�A _ _ u Fee Simple Discount Points and Other Concessions loan R.E. Taxes $ 1,246.18 Tax Year 1988 IIOA S/Mo. 0 ll Leasehold Paid by Seller $ Asscciafnq Financial Serv1cY s - Thornton ❑ Condominium (HUD/VA) !;. Lender/Client ❑ De Minimis PUD Source IITATION ?'. 14 £' I( BUILT UP GROWTH RATE PROPERTY VALUES DEMAND/SUPPLY MARKETING TIME X ❑ ❑ ❑ ❑ �� Urban [ ] Suburban ❑ Rural Over 75% 25-75% ❑ Under 25% Rapid ❑ Stable ® Slow Increasing i Stable ❑ Declining Shortage LYLi In Balance ❑ Over Supply Under 3 Mos. ❑ 3-6 Mos. IXI Over 6 Mos. NEIGIIBOR11OOD ANALYSIS Good Avg. Fair Poor Employment Stability ❑ IX] ❑ ❑ Convenience to Employment ❑ Ni [XI ❑ Convenience to Shopping ❑ X❑ ❑ Convenience to Schools LnI� � ❑ ❑ ❑ Adequacy of Public Transportation ❑ ❑ ❑ 5 Q 0 o 0 PRESENT LAND USE % Single Family 85 LAND USE CHANGE Not Likely XOCCUPANCY PREDOMINANT SINGLE FAMILY HOUSING PRICE AGE ILXXI L ❑ Recreation Facilities ❑ NI Adequacy of Utilities ❑ LJ ❑ ❑ 2-4 Family Likely I I Owner LX, $ (000) (yrs) Property Compatibility ❑ [XI Li Di Multi -family In process [ 1 Tenant • 30 low 8 Protection from Detrimental Cond. � IXI ❑ Li Commercial To: Vacant (0-546) LXi 60 I ligh 40 Police & Fire Protection ❑ LXXI ❑ ❑ Industrial Vacant (over 5%) ❑ Predominant General Appearance of Properties ❑ LX] ❑ ❑ Vacant 15 45 - 16 Appeal to Market ❑ !XI ❑ ❑ Note: Race or the racial composiuon of the neighborhood are not considered reliable appraisal factors. SEE ATTACHED ADDENDUM COMMENTS: '! Dimensions 137.6 x 125.0 (Per County Records) Topography Level to street grade_,__ Site Area 17, 200SO. Ft. Corner Lot Yes Size Above average for area Zoning Classification Single Family Il . (R-1) Zoning Compliance Yes Shape Rectangular _ - HIGHEST & BEST USE: Present Use Yes Other Use NO Drainage Appears adequate UTILITIES Public Other SITE IMPROVEMENTS Type Public Private View Faces scliool,btlwy street $ ::- Electricity l '� Street Asphalt paved Landscaping ConfOillb `®`� Gas I Curb/Gutter COItaete u ❑ Driveway Concrete u Water LXJ Sidewalk Concrete LX] ❑ Apparent Easements None poamrtt Sanitary Sewer DC Street Lights Yes LXi ❑ FEMA Flood Hazard Yes' No Zone C_ Storm Sewer ❑ Alley Yes IX(I ❑ FEMA' Map/Zone COMMENTS (Apparent adverse easements, encroachments, special assessments, slide areas, etc.): SEE ATTACHED ADDENEUM PStories N YDesign E ii GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION Slab No BASEMENT Area Sq.Ft. 1,199 INSULATION Roof * ❑ Units One Foundation COI Ic.Lete Ceiling * ❑ Crawl Space No % Finished 60% One Exterior Walls Wig. sdg./Brick Walls * ❑ Basement Yes Ceiling Suspended Type (Dec/Att.) Detached Roof Surface Asphalt shgl. Floor * ❑ Sump Pump NO Walls Drywall, pnlq_ (Style) Ranch Gutters & Dwnspts. None None ❑ Dampness None noted Floor Carpet Existing Yes Windows Type Mt1. Sgl. pane AdequacyUnkn. ❑ Energy Efficient Items: Storm Windows Settlement None noted Outside Entry NO Proposed No Storm Sash Yes Infestation None noted Fair quality Under Construction NO Screens Yes finished Age (Yrs.) 15 Manufactured House NO * Concealed Effective Age (Yrs.) 19-21 ROOMS Foyer Living Dining Kitchen Den Family Rm. Rec. Rm. Bedrtxrm k Baths Laundry Oihtr Area Sq. Ft. _ X X X X 1,199 PBasement N };I Level 1 X 1 3 1 1.199 Level - 0 I 0 T Finished area above grade contains: 5 Rmms; 3 Bedroom( ); 1 Bath(s) ; 1, 199 Square Feet of Gross Living Are pWalls R SURFACES Materials/Condition Floors Carpet/Vinyl-Avg. HEATING Type HWBB KITCHEN EQUIP. Refrigerator ATTIC None ❑ IMPROVEMENT ANALYSIS Good Avg. Fair Poor Quality of Construction ❑ LXI ❑ Drywall -Avg. Fuel NatGas _ Range/Oven NI NI Stairs ❑ Condition of Improvements N❑NII [X XI ❑ Trim/Finish Wood/Carpet-Avg. Condition Unkn. Disposal El Drop Stair Room Sizes/Layout • X ❑i ❑ Bath Floor Carpet —Avg. Adequacy Avg. Dishwasher r•� Scuttle LX1 Closets and Storage • DC Bath Wainscot Ceramic-AVq• COOLING I❑ pI Fan/I food Ind Floor ❑ Energy Efficiency ❑ IX] ❑ ❑ Doors Hollow core —Avg. Central No Compactor ❑ Heated ❑ Plumbing -Adequacy & Condition ❑ IN ❑ ❑ Othet-None Washer/Dryer • Finished ❑ Electrical -Adequacy & Condition ❑ NI ❑ ❑ Condition N/A Microwave ❑ ❑ Kitchen Cabinets -Adequacy & Cond ❑ [XI ❑ ❑ Fireplace(s) Fireplace R 1 Adequacy N/A Intercom ❑ ❑ Compatibility to Neighborhood ❑ IX❑ • ❑ CAR STORAGE: Garage 1' No. Cars 2 Carport ta ❑ Attached Detached El ❑ Adequate Inadequate ❑ House Entry NI Outside Entry ❑ Appeal & Marketability ❑ XI IN ❑ Estimated Remaining Economic life 39-41 Yrs. Condition MICE. None ❑ Built -In ❑ Electric Door ❑ Basement Entry ❑ Estimated Remaining Physical Life N/A Yrs. Additional features* Open patio; partial 6' wood privacy fence (fair condition) ; fireplace in living rwm. Special features include: storm door; ceiling fan. G Depreciation (Physical, functional and external inadequacies, repairs needed, modernization, etc.): SEE ATTACHED ADDENDUM M N impact in area regarding loan discounts, interest huydowns and concessions: Conventional and General market conditions and prevalence and subject/market government insured portages are locally available. Typical seller concessions range fran 0-3 points. Financing adjustments are generally required when points exceed what is typical. Fannie Mae Form Freddie Mac Form 70 10/86 12 CPI e ua of 1 Purpose of Appraisal is to estimate Market Value as defined in Certification m BUILDING SKETCH (SHOW GROSS LIVING AREA ABOVE GRADE) If for Freddie Mac/Fannie Mae, show only square foot calculations & cost approach comments. External ebsolesence was noted due to the subjects location of Broad St., which has an above average traffic pattern. The subject also faces Milliken Elementary Sdxlul which is located across the street to the south. No functional obsolesence was noted. Cbst estimates have been derived fain Marshall & Swift Valuation Services as well as lnral building trade sources. Depreciation method is based on effective age divided by total economic life. (Not Required by Freddie Mac and Fannie Mae) Does property conform to applicable HUD/VA property standards? If No, explain: N/A Yes ❑ No ESTIMATED REPRODUCTION COST • NEW - OP IMPROVEMENTS: Dwelling 1,199 Sq. Ft. @ S 38.00 =$ Bsmrlt 1,199 $q. Et. @ $ 12.00 = Extras Special Features; Kitchen Equip.; Fireplace Special Energy Efficient Items S.W. Porches, Patios, etc. Patio;partial fnc Garage/Carport 546 sq. R. @ $ 11.00 Total Estimated Cost New Physical Functional External Less Depreciation 23 ,500 0 Depreciated Value of Improvements Site Imp. "as is" (driveway, landscaping, etc.) ESTIMATED SITE VALUE (If leasehold, show only leasehold value.) INDICATED VALUE BY (IAF APPROACJ I Construction Warranty ❑ Yes ® No Name of Warranty Program Warranty Coverage Expires _$ 45,562 14,388 2,700 1,000 800 6,006 70,456 3,500 =s 27,000 =s 43,456 =s 3,500 _$ 9,000 56,000 The undersigned has recited three recent sales of properties most similar and proximate to subject and has considered these in the market analysis. The description includes a dollar adjustment, reflecting market reaction to those items of significant variation between the subjec and comparable properties. If a significant item in the comparable property is superior to, or more favorable than, the subject property, a minus (-) adjustment is made, thus reducing the indicated value of subject; if a significant item in the comparable is inferior to, or less favorable than, the subject property, a plus (+) adjustment is made, thus increasing the indicated value of the subject. Address ITEM SUBJECT 205 Broad St. Milliken Proximi to Sub'ec Price/Gross uv. Area Data Source VALUE ADJUSTMENTS Sales or Financing Concessions Date of Sale/Time Location Site/View Design and Appeal Quality of Construction Age Condition Above Grade Room Count Gross Living Area Basement & Finished Rooms Below Grade Functional Utility Heating/Cooling Garage/Carport Porches, Patio, Pools, etc. Special Energy Efficient Items Fireplace(s) Other (e.g. kitchen remodeli Indicated Value of Subject Comments on Sales Comparison: SEE. s NIA Inspection M.L.S. - Realtor COMPARABLE NO. 211 S. Norma Ave. Milliken 2 Blocks S.E. r/$ 46.47 DESCRIPTION DESCRIPTION +(-)S Adjustment Opts. R3. FM -IA $43.5K@8.75% 1-11-90 11-7-89 Milliken 17,200/T af. hand]/Av_g_ •vg./FB 5/E19-21 Milliken 7,500/Avg. Ranch/Avg. Avg,/f8 All/E10-12 ) COMPARABLE NO. 2 COMPARABLE NO. 3 107 S. 5th St. Tasalle 8 Miles N.E. s 48.53 M.L.S. - Realtor M.L.S. - Realtor 1002 W. South 1st St Johnstown 4 Miles West $ 53 000 $ 49 000 DESCRIPTION + (-)$ Adjustment DESCRIPTION 1 Pt.Ftl. FHA $53.3K @ 10% 9-21-89 Taal _ le 2 Pts.Fk1. VA $49K @ 9.25% 12-15-88 Johnstown +(-)$ Adjustment Fair to a •. Average Total Bdrms Baths Total &Inns 5 3 1,199 1 Sq. Ft 5 Baths 3 1 936 Sq. Ft. 1,199 936 Sq.Ft. 60%Fair Fnsh 75%Finished Average EBB/None +2 000 1 Car Garage +2,000 Partial wood fence +300 Ecuble Pane Windows •verage :/None 2 Car Garage S•- patio; ial enc. Storm Windows Fireplace None Spec.Feature Similar KitdT.F• i. Similar -3,500 7,950/Avg. -3,500 8,880/Praf. -2,000 +5,200 0 0 +1,000 Ranch/Avg. Ranch/Avg. Avg./FB A24/E11-13 ) Average Total Bdrms Baths Avg./FR A26/E19-21 -2,000 Fair to avg. Total Bdrms Baths 5 000 $ 48,500 ATTACHED ADDENEUM 5 2 1 1 092 sq. Ft. 952 Sq.Ft. 75%Finished Average Average O GFA/None +1,000 0 5 3 1 +2 ,100 1.176 Sc1. Ft. 1,176 Sq.Ft. O 60%Fair Fnsh GFA/Cent•AC 1 Car Garage +2,000 1 Car Garage +2,000 Encl.patio; Open patio; sprk.;fence -1,800 shed;fence -500 Storm Windows None Similar Similar Storm O Windows +1,000 Fireplace -2 200 50,800 Similar Superior -500 2 000 51,000 E D INDICATED VALUE BY SALES COMPARISON APPROACH $ 50, 000 INDICATED VALUE BY INCOME APPROACH (If Applicable) Estimated Market Rent S N/A /Mo. x Gross Rent Multiplier N/A = $ 0 This appraisal is made ® "as is" ❑ subject to the repairs, alterations, inspections or conditions listed below ❑ completion per plans and specifications. Comments and Conditions of Appraisal: This report is subject to all attadled restrictions/limiting coalitions. Appraiser cannot warrant condition of appliances, mechanical, or structural systems. Final Reconciliation: The market data approach to value was given greatest weight as it appears to best reflect the attitudes of buyers and sellers in today's marketplace Cost estimates prpyide support. The incase approact is not considered due to a lack of rental data. This appraisal is based upon the above requirements, the certification, contingent and limiting conditions, and Market Value definition that are stated in ❑ Fml-IA, HUD &/or VA instructions. ix ® Freddie Mac Form 439 (Rev.7/86) / Fannie Mae Form 10048 (Rev.7/86) filed with client 19 Lx attached. I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE SUBJECT PROPERTY AS OF January 11 19 90 to he $ 50,000 I (We) certify: that to the best of my (our) knowledge and belief the facts and data used herein are true and correct; that I (we) personally inspected the subject property, both inside and out, and have made an exterior inspection of all comparable sales cited in this report ; and that I (we) have no lisclosed intRrest, present or prospective therein. REVIEW APPRAISER ; / APPRAISER(S) Signature Name Freddie Mac Form r.) l - selet Ja rtes E. Selle 10/86 12 CPI (If applicable) Signature l✓,212Z2 Name Inspect Property ❑ Did Did Nut IeserForm Software by DAY ONE, Inc. 1987 Fannie Mae Form 1004 10/86 erty Description a Analysis UNIFA RESIDENTIAL APPRAISAL R RT File No. 21 98 0792--" e rrupmty muuteaa cu Bruau or.reeL Census Tract CT 21 LENDER DISCRETIONARY USE Sale Price $ City Miliken County Weld State Colo Zip Code 80545 LegalDescription Lots 22, thru 32 except the north 137.66 St. blk 47 Date Owner/Occupant Roy & June Watson! Same Map Reference N/A Mortgage Amount $ Sale Price $ Ref . Date of Sale N/A Property Rights Appraised Mortgage Type Loan charges/concessions to be paid by seller $ Unknown 0 Fee Simple Discount Points and Other Concessions Paid by Seller $ R.E. Taxes $ 2,995.78 Tax Year 91 HOA $/Mo. N/A ❑ Leasehold Lender/Client Assoca ites / Roy & June Watson ❑ Condominium (HUD/VA) De Minimis PUD Source LOCATION X Urban BUILT UP X❑Over 75% GROWTH RATE ❑Rapid PROPERTY VALUES ❑Increasing DEMAND/SUPPLY ❑Shortage MARKETING TIME ❑Under 3 Mos. ❑Suburban 025-75% Q O 0 [213-6 Rural ❑Under 25% Stable ❑slow Stable ❑Declining [lover Balance over Supply Mos. ❑Over 6 Mos. NEIGHBORHOOD ANALYSIS Good Employment Stability 0000 Convenience to Employment 0000 Convenience to Shopping ❑ Convenience to Schools DODO Adequacy of Public Transportation 0000 Avg. ❑ Fair 0 Poor ❑ — ec z PRESENT LAND USE % Single Family 95 LAND USE CHANGE Not Likely 0 PREDOMINANT OCCUPANCY SINGLE FAMILY HOUSING PRICE AGE Recreation Facilities 0000 Adequacy of Utilities 000111 2-4 Family 0 Multi -family 0 Likely In process ❑ NI Owner X ❑ Tenant ❑ WOO) ( ) (yrs) 40 Low 15 Property Compatibility ❑ Protection from Detrimental Cond. ❑ X ❑ ❑ ❑ 0 ❑ ❑ Commercial 0 To: Vacant (0-5%) 0 60 High 50 Police & Fire Protection ❑ 0 ❑ ❑ Industrial 0 Vacant (over 5%) ❑ Predominant General Appearance of Properties 0000 Vacant 5 50 - 25 Appeal to Market ❑ n ❑ ❑ Note: Race or the racial composition of the neighborhood are not considered reliable appraisal factors. COMMENTS: Subject is located on the west side of Miliken, with close proximity to all city amenitys. Due to the size of Miliken the shopping area is Greeley, 5 miles north east of subject. The area has a good mix of styles and sizes of homes. The main artery street for this area is hiway 257. Dimensions 125 x 135 Topography Basically level Site Area 16875 Sq.Ft. +/— Corner Lot Yes Size Large for area Zoning Classification Residential Zoning Compliance Yes Shape Rectangular HIGHEST & BEST USE: Present Use Yes Other Use No Drainage Appears adequate yr UTILITIES Public Other Electricity 0Asphalt SITE IMPROVEMENTS Type Public Private ❑ Street X ❑ View Street /Fair Landscaping Natural Gas 0 Curb/Gutter Yes 0 ❑ Driveway Paved Water 0 Sidewalk No ❑ ❑ Apparent Easements Typical Utilities Sanitary Sewer 0 Street Lights Yes 0 ❑ FEMA Flood Hazard Yes' No X Storm Sewer ❑ Alley Yes n ❑ FEMA' Map/Zone 080266-0750C COMMENTS (Apparent adverse easements, encroachments, special assessments, slide areas. etc.): Zone C flood map dated Sept. 28, 1982. No adverse conditions noted. FN- GENERAL DESCRIPTION Units One EXTERIOR DESCRIPTION Foundation Concrete FOUNDATION Slab No BASEMENT Area Sq. Ft. 1189 INSULATION Roof ❑ Stories One Exterior Walls Brick,Fraxr Crawl Space No %Finished 50 Ceiling _R19 0 Walls UK ❑ Type (Det./Att.) Detached Roof Surface Comp Basement Yes Ceiling Drywall Design (Style) Ranch Gutters & Dwnspts. Yes Sump Pump No Walls Drywall Floor ❑ Existing Yes Window Type Alum S/ P Dampness None noted Floor Carpet None ❑ Proposed NO Storm Sash No Settlement None noted Outside EntryNO AdequacyAVg. 0 _ Under Construction No Screens Yes Infestation None noted Energy Efficient Items: None Age (Yrs.) 17 yrs. Manufactured House No Effective Ace (Yrs.) 10 yrs. ROOMS Basement Foyer Living Dining Kitchen Den Family Rm. 1 Rec. Rm. Bedroom 1 # Baths Laundry Other Area Sq. Ft. 1,189 Level 1 1 1 3 1 - 1,189 0 0 Level2 _ Finished area above grade contains: 5 Rooms; 3 Bedroom(s); 1 Bath(s): 1 , 189 Square Feet of Gross Living Area SURFACES Materials/Condition Floors Carpet/Vinyl /A HEATING Type HWBB KITCHEN EQUIP. Refrigerator 0 Range/Oven 0 Disposal 0 Dishwasher 0 Fan/Hood 0 Compactor ❑ Washer/Dryer ❑ Microwave ❑ Intercom ATTIC None Stairs Drop Stair Scuttle (ii Floor Heated Finished ❑ ❑ ❑ ❑ ❑ ❑ ❑ IMPROVEMENT ANALYSIS Good Quality of Construction Condition of Improvements Room Sizes/Layout Closets and Storage Energy Efficient Plumbing -Adequacy & Condition Electrical -Adequacy & Condition Kitchen Cabinets -Adequacy & Cond. Compatibility to Neighborhood Appeal & Marketability Estimated Remaining Economic Life ❑ ❑ ❑ 0000 ❑ D000 0000 ❑ ❑ ❑ 50 Avg. 0 ❑ 0 0 0 0 0 — Fair ❑ 0 ❑ ❑ ❑ ❑ ❑ 60Yrs. Poor ❑ ❑ ❑ ❑ ❑ ❑ ❑ Walls Drywall / A Fuel Gas Trim/Finish Stained wood /A Condition Avg. Bath Floor Vinyl /A Adequacy Avg. BathWeinscot Ceramic /A COOLING Central None Doors Hollow Core /A Other None rn a Condition Fireplace(s)LiVing room# 1 Adequacy CAR STORAGE: Garage U No. Cars 2 Carport ❑ Attached 0 Detached ❑ Built-in ❑ Adequate X Inadequate ❑ Electric Door FLBasement House Entry Outside Entry Entry X ❑ ❑ Condition Avg. None ❑ Estimated Remaining Physical Life 60 — 70Yrs. Additional features: Fireplace in the living room, large lot. Depreciation (Physical, functional and external inadequacies, repairs needed, modernization, etc): The roof needs replaced, carpet is in poor condition, exterior needs scraped and painted. cost to cure $2500.00, roof exterior paint u $1000.00 Carpet, vinyl and paint interior $3500.00.Total $7000.00. O u General market conditions and prevalence and impact in subject/market area regarding loan discounts, interest buydowns and concessions: The market appears stable in the Miliken area with VA and FHA loan rates below 9% and Conventional loans at 8 to 8.57e, with a strong demand for new loans. Freddie Mac Form 70 10/86 Inn ism Kat voac.d on Ira ww.,.5 Chine i.,.,ro m .y.t.m iwoi -ORAR Fannie Mae Form 1004 10/& Purpose of Appraisal is to estimate Market Value as defined in the Certification 8 St BUILDING SKETCH (SHOW GROSS LIVING AREA ABOVE GRADE) If for Freddie Mac or Fannie Mae, show only square loot calculations and cost approach comments in this space. No adverse funcational or economic condtions noted. u o o. a a l— tn 0 o I ESTIMATED REPRODUCTION COST -NEW -OF IMPROVEMENTS: Dwelling 1 ,189 Sq. Ft. e $ 40.26=$ 47,869 Bsmt. 11895q.Ft.o$ 10.00= 11,890 Extras Fireplace = 2,000 Special Energy Efficient Items = Porches, Patios, etc. _ Garage/Carport 480 Sq. Ft. 01$ 10.00 = 4,800 Total Estimated Cost New 4 66,559 Physical Less 23% Depreciation 15,000 Functional 07, $0 External 07, $0=$ -15,000 Depreciated Value of Improvements 4 51,559 Site Imp. "as is" (driveway, landscaping, etc.) _$ 2,000 ESTIMATED SITE VALUE _$ 1 0 , 000 (If leasehold, show only leasehold value.) INDICATED VALUE BY COST APPROACH _$ 63,600 (Not Required by Freddie Mac and Fannie Mae) Does property conform to applicable HUD/VA property standards? X❑Yes ❑No If No, explain: Construction Warranty ❑Yes (JNo Name of Warranty Program Warranty Coverage Expires The undersigned has recited three recent sales of properties most similar and proximate to subject and has considered these in the market analysis. The description includes a dollar adjustment, reflecting market reaction to those items of significant variation between the subject and comparable properties. It a significant item in the comparable property is superior to. or more favorable than, the subject property, a minus (-) adjustment is made, thus reducing the indicated value of subject: if a significant item in the comparable is inferior to. or less favorable than, the subject property, a plus (e) adjustment is made, thus increasing the i dicated value of the subject. ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO. 2 COMPARABLE NO. 3 Address 205 Broad Str511 Miliken Forest Street Miliken 221 South Josephine Ave. Miliken 708 Broad Street Miliken Proximity to Subject 6 blocks south 8 blocks south east 5 blocks east Sales Price $Ref. -: $ 43,000 $ 57,000 $ 45,500 Price/Gross Liv. Area $ O. 00 0 $ 49.77 0 $ 47.50 0 $ 57.30 0 Data Source Inspection MLS DOM 115 MLS DOM 108 MLS DOM 119 VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION I +(-) S Adjustment DESCRIPTION I +(-) S Adjustment DESCRIPTION I .(-) S Adjustment Sales or Financing Concessions VA None FHA None FHA None Date of Sale/Time N/A 8-28-92 8-21-92 6-30-92 Location Urban/Avg. Urban / A Urban /A Urban /A m Slte/View 16875SF / A 9375SF / A 9375SF / A 6600SF / A r Design and Appeal Ranch/Avg. Ranch /A Ranch /A Bi-Level /A aQualityof Construction Average Average Average Aver ge a Age 17 Years +/- 15 yrs. 45 yrs. 18 yrs. o Condition Fair Average -5,000 Averse -5,000 Average -5,000 N Above Grade E Room Count a Gross Living Area Total Bdrma Bath Total ; Bdrms Bath +3,000 Total : Bdrms ' Bath Total Mans Bath 5 3 1 4l 2 1 7 3 1.5 —1,000 6, 2'a 2 —1,500 1 ,189Sq. Ft. 864 5q. Ft. 1 , 200 Sq. Ft. 7945q. Ft. +4,000 U Basement 8 Finished J Rooms Below Grade 1189SF / 500SNone three rooms None +5,000 +22000 1064SF/500SF three rooms 768SF/768SF 4 rooms +2,000 < Functional Utility Average Average Average Average Heating/Cooling Gas HWBB FANG / Swamp -500 FANG / None FANG / None Garage/Carport 2 Car Garage None +4,000 2 -C -Detached 1 -C -Attached +2,000 Porches, Patio Pools, etc. None None None None Patio Sprinkler -1,000 -2,000 Deck None -1,000 Special Energy Efficient Items None None None None None None None +1,000 -Wood None None Fireplace(s) 1 Living roottNone +1,000 stove Other (e.g. kitchen equip., remodeling) Ref R/O Dsp D/W F/H Appliances None Appliances None Appliances None NetAd'.(total) Last Sale X IN-'$ 9,500 { (X)-',$ 8,000 (X)+ I )-'$ 500 Indicated Value of Subject $ 0 $ 52,500 $ 49,000 $ 46,000 CommentsonsalesComparison: Due to the size of Miliken and the limited number of sales, these were the best comparables found in the past year, and with several adjustments the three comparables sales were utilized for the market value of subject. INDICATED VALUE BY SALES COMPARISON APPROACH S 49,000 INDICATED VALUE BY INCOME APPROACH (If Applicable) Estimated Market Rent$ 450.00/Mo. x Gross Multiplier 100.00=5 45,000 This appraisal is made X❑ "as is" ❑ subject to the repairs, alterations, inspections, or conditions listed below Comments and Conditions of Appraisal: No conditions of this appraisal. Noted that acording I completion per plans and specifications. to the Weld County Treasurer this property went to tax sale for 1989, 1990,and 1991 taxes. FlneiReconcitiatiore The market value will be the best indicator of value between buyers and sellers. The quick sale value of subject is 39,000. O i• a This appraisal is based upon the above requirements, the certification, contingent and limiting conditions, and Market Value definition that are stated in u ❑FntA, HUD 8/or VA instructions. p X❑Freddie Mac Form 439 (Rev. 7/86)/Fannie Mae Form 1004B (Rev. 7/86) filed with client 19 X❑attached. I (WE) ESTIMATE THE MARKET VALUE, AS DEFIED, OF TIE SUBJECT PROPERTY AS OF Nov 14 19 92 to be $ 49,000 I (WE) certify: that to the best of my (our) knowledge and belief. the facts and data used herein are true and correct that I (we) personally inspected the subject property, both inside and out, and have made an exterior' ' ' p: : II comparable sales cited in this report; and that I (we) have no undisclosed interest, present or prospective therein. Appraiser(s) SIGNATURE / Review Appraiser SIGNATURE ❑Did ❑ Did Not mint T.L. Cur is (if applicable) NAME Inspect Property Freddie Mac Form ]0 10/86 T.L.C. Fannie Mae Form 1004 10/E6 UI ORM RESIDENTIAL APPRAISAL F. ORT File No. 7370 city Milliken State CO Zip Code 80545 Utilities Electricity Gas Water Sanitary sewer ❑X Streetlights Yes Alley Yes Public t Type Public Private Landscaping ®❑ Driveway Surface Concrete 0 Apparent easements Typical urtl1ilit, FEMA Special Flood Hazard Area L i Yes � No FEMA Zone Zone C Map Date 8/1/79 n FEMA Map No. 080187 00018 Storm sewer Comments (apparent adverse easements, encroachments, special assessments, slide areas, illegal or legal nonconforming zoning, use, etc.): Easements of record. No adverse conditions. This is larger than typical site for the neighborhood, considered to be a marketing plus. EXTERIOR DESCRIPTION Foundation Concrete Brick GENERAL DESCRIPTION No. of Units 1 No. of Stories 1 Type (Det./Att.) Detached Design (Style) Ranch Existing/Proposed Existing Age (Yrs.) 19 years Effective Age JYrs) ROOMS ) Foyer Basement Level 1 Level 2 12-14 Living 1 Exterior Walls Roof Surface Asph shngl Gutters &Dwnspts. Aluminum Window Type Al sldr Storm/Screens Yes Manufactured House No Dining Kitchen 1 Den FOUNDATION Slab No Crawl Space No Basement Yes Sump Pump None Dampness None noted Settlement None noted Infestation None noted Family Rm. Rec. Rm 1 BASEMENT Area Sq.Ft. 1230 % Finished 80% Ceiling ACC tile Walls Panelling Floor Crpt,conc Outside Entry No Bedrooms 1 3 # Baths 1 1 Laundry Finished area above grade contains: _5 Rooms: INTERIOR Materials/Condition HEATING KITCHEN EQUIP. ATTIC ❑ Q None ❑ Floors Cr.t vn 1/Aver Type HWBB Refrigerator ❑X None ❑ o NonGarege #ol cars Walls Dr all/Aver Fuel Gas Range/Oven 0 Stairs ❑ Attached 2 Trim/Finish Ptd wd/Average condition Assmd Disposal Q Drop Stair ❑ Detached Bath Floor Carpet/Average COOLING Dishwasher ❑ Scuttle O ❑ Built -In Bath Wainscot Ceramic/Aver Centre) None Fan/Hood © Floor ❑ Carport Doors HC/Average Other None Microwave ❑1 Heated ❑ CanditionN/A Washer/Dryer I n1 Finished ❑ I 1 Driveway 2 Addilionalleatures(specialenergyellicientitems,etc.): Subject is an average quality brick ranch with an attached 2 car garage, patio, ceiling fans and a brick fireplace. Condition of the improvements, depreciation (physical. functional, and external), repairs needed, quality of construction, remodeling/additions, etc.: Subject i5 of average overall construction and condition. No major deferred maintenance was noted. No major re•airs are re.uired. No .h sical functional or external inade•uacies were noted. Adverse environmental conditions (such as, but not limited to, hazardous wastes. toxic substances, etc.) present in the improvements, on the site, or in the immediatevlcinityollhesubjeclproperty: No adverse environmental conditions were noted on the site, in the improvements or in the immediate vicinity oPAththe Os2bject. Freddie Mac Form 70 6-93 Milo!,.a. %na.ea w tb aypraava • L.wr""`r"'n WONna.wn schools. 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.): Prices have been stable in the past. but are showing signs of increasing due to the desirability of the Front Range area. This has resulted in an improving market. FHA, VA & Conventional financing are all common in this area. Up to 3 seller points on FHA & VA is common with no substantial price increase. Conventional financing typically involves up to 2 seller points. Project Information for PUDs (II applicable) - - Is the developer/builder In control of the Home Owners' Association (HOA)? ❑ YES total number of units for sale in the subiecl project Approximate total number of units In the subject project Approximate Describe common elements and recreational facilities: Dimensions 138x125 per county Site area 17250 Sq.Ft. Specific zoning classification and description R Single Zoning compliance © Legal 1 1❑ Legal nonconfomsng (Grendlathered use) Highest & best use as improved: I n1 Present use ❑ Other use (explain) Other OH -site Improvements Street Asphalt Curb/gutter None Sidewalk None `r' Property Description / Property Address 205 Broad St. Legal Description See Attached Addendum. Assessors Parcel No. 10591121601 3 Borrower Watson, June & Rev Current Owner Same Project Type f I PUD Property rights appraised Neighborhood or Project Name Milliken Dale oI Sale N/A Description and $ amount of loan charges/concessions to be paid by seller N/A XI Fee Simple I I Leasehold f Sale Price $ Ref i Lender/clientAssociates Financial Services Address720 W. 84th Avenue, Thornton, CO 80221 Aurae 3701 W. 32nd Avenue, Denver, CO 80211 Appraiser Anthony Green #AR013214 Location ❑ Urban U Suburban Rural Predominant Single family housing Present land use % Land use change occupancy PRICE AGEE One family 75 ❑ Not likely ❑ Likely Built up ❑ over 75% 25-75% ❑ Under 25% Spa) (rnl Growth rate ❑X Rapid ❑ Stable ❑ slow 0 Owner 20 Low New 2-4 family 5 In process Property values ❑X Increasing ❑ Stable ❑ Declining ❑ Tenant 150 High 100 Multi -family 0 To:MOSt1V SFR Demand/supply ❑�X1 Shortage ❑-1 Inbalance ❑ Oversupply ❑X Vacant(O-S Predominant I Commercial 10 Marketing time Inl Under3 mos.) 13-6 mos. ❑ Over 6 mos. I l Vacant (over 5%) 40-90 20-40 : Vacant) 10) Note: Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood boundaries and characteristics: North: Hwy 60 St. South: Green St. East: Buelah St. West: Hwy 257. The neighborhood consists of mostly average quality tract style homes. Factors that affect the marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.): Subject is located in the town of Milliken, approximately 30 miles north of the Denver metro area. The primary employment center is Denver along with Greeley, Ft. Collins and other surrounding cities. Police and fire protection are local as are both elementary and middle Family Residential CountyWeld Tax Year 1993 R.E. Taxes $1 112. 2 S ecial Assessments $0.00 Occupant: X Owner f I Tenant f 1 Vacant 1 Condominium (HUD/VA only) HOA $ /Ma Map Reference Pierson ❑ NO �,,�Topography Basically level Corner Lot U Yes Li No Size Shape Li Illegal ❑ No zoning Drainage View Larger than typical Rectangular Appears adequate Typical for nghbrhd Sodded & landscaped ❑ ❑ ❑ ❑ D 0 12 Census Tract 0021 X INSULATION Roof Ceiling Assmd Walls Assmd Floor None Unknown Othe Stor El Area Sq.Ft 1,230 1,230 230 Square Feet of Gross Living Area 3 Bedroom(sl: 1 Bath(a): AMENITIES Fireplace(s) #Brick Patio Deck Porch Fence Pool CAR STORAGE: Fannin Mae Form 1004 6- UM )RM RESIDENTIAL APPRAISAL ESU RT File No. 7370 ESTIMATED SITE VALUE _ $ 15,000 Comments on Cost Approach (such as, source of cost estimate, ESTIMATED REPRODUCTION COST -NEW OF IMPROVEMENTS: Dwelling 1 .230 Sq. Ft. e $ 30.00 = $ 36,900 site value, square loot calculation and for HUD. VA and FmHA. the estimated remaining economic life of the property): Cost data is Bsmt. 1230Sq.Ft.o$ 10.00 = 12,300 taken from the Marshall Swift Cost book. Appliances, patio = 3,000 Physical depreciation is based on the Garage/Carport 528 Sq. Ft. e $ 8.00 = 4,224 Age/Life method. See attached sketch for Total Estimated Cost New =$ 56,424 square foot measurements" Less Physical Functional External Depreciation 11 .285 = $ 11,285 Depreciated Value of Improvements -$ 45,139 "As -is" Value of Site Improvements = $ 5,000 INDICATED VALUE BY COST APPROACH = $ 65.100 ITEM I SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO.3 205 Broad St. Address Milliken 207 N. Olive St. 109 S. Norma St. 215 Ethel St. Proximity to Subject Same street 1 block SE 10 blocks east Sales Price $ Ref i $ 65000 $ 57.000 . $ 36,000 Price/Gross Liv. Area $ 0.000 $ 53.370 - $ 35.890 .. ! $ 49.590'Data and/or Verification Sources Inspection MLS/County Records Listing agent MLS/County records Listing agent MLS/County Records Listing agent VALUEADUSTMEM1S DESCRIPTION DESCRIPTION I •(-)fAdN9Mant DESCRIPTION I s(-)344Nslment DESCRIPTION •(-)f Adps6nent Sales or Financing Concessions FHA $65,456 No slr pts FMH $57,000 No slr pts CV $18,000 No slr pts Date of sale/Time 3.l2ly4' 1.8/31/93 No adi 2/15/94 10/27/93 Location Milliken Milliken Milliken Milliken Leasehold/Feesimple Fee Fee Fee Fee Site 17250 SF/Aver6250 SF/Aver +5.000 7500 SF/Aver +5,000 15625 SF/Aver No adi View Neighborhood Neighborhood Neighborhood Neighborhood Design and Appeal Ranch/AverageRanch/Average Bilev/Average +3,000 Ranch/Average OualitvofConstmcion Brick/AverageBr,fr/Average Br,fr/Average Frame/Average +2,000 Age 19 Yrs. 17 Yrs. 15 Yrs. 16 Yrs. Condition Average Average Average Average Above Grade Total Bdsms Balls Total Bdrms : Baths Total ; Bdrm, : Bath, Total Bdrms Bath, Room Count 5' 3' 1 7 9 1 7 L_u: 1.75 -2,000 3 1 1 +2,000 Gross Living Area 1 .230 Sq. Ft. 1 .218 Sq. Ft. 1 , 588 Sq. FL -6,400 726 Sq. Ft. +9,100 Basement&Finished Rooms Below Grade 1230 Sq.Ft. 80% Finished None N/A +4,300 +3,400 None N/A +4,300 +3,400 None N/A +4,300 +1,441 Functional Utility Average Average Average Average Heating/Cooling FWA/None FWA/None FWA/None FWA/None Energy Efficient Items Storm windowsNone +1,000 None +1,000 None +1.000 Garage/Carport 2 Att. Garage2 Det. Garage +1,000 1 Att. Garage +1.000 2 Det. Garage +1.0001 Porch, Patio, Deck, Firepface(s),etc. Patio Fireplace Patio None +1,000 Deck Fireplace None None +500 +1,000 Fence, Pool, etc. Appliances Appliances Appliances Appliances Sheds -2,000, Net Adl. (total) (xi+ 1 )- ;$ 15,700 (Xl+ I - �$ 9.9001'X)+ ( )- j$ 22,341' Adjusted Sales Price of Comparable GCOS;3:24 2-': Yet: -24i.;1$ 80,700(4Srt: Gross:45.3. 163•$ 66,300 GruSS:l3e2. let: 62:1'$ 58,341 Comments Sales Comparison (including the subject property's compatibility to the neighborhood, etc. ): Due to extremely limited sales on data these were the only sales available, therefore adjustments exceed guidelines, which is not uncommon for this price range. Sales #1 & 2 were adjusted for smaller lot size and #2 was adjusted for differing style. All sales were adjusted for dissimilarities as compared to the subject" Financing terms were typical of the market requiring no adjustments. No time adjustments were indicated. ITEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3 Date, Price and Data Source for prior sales wminyearofappraisal None N/A County recrdsCounty None N/A records None N/A County records None N/A County records Analysis of any current agreement of sale, option, or listing of the subject property and analysis of any prior sales of subject and comparables within one year of the dale of appraisal: Subject has not sold in the past year and is not currently on the market• previous sales of comparable properties were more than 1 year prior to above closing dates (per county). VALUE BY SALES COMPARISON APPROACH $ 63, 000 INDICATED VALUE BY INCOME APPROACH (If Applicable) Estimated Market Rent $ N/A /Mo. x Gross Rent Multiplier N/A = $ N/A INDICATED This appraisal is made (J "as is" U subject to the repairs, alterations, inspections or conditions listed below U subject to completion per plans and specifications. n...Am....n..,Ann.n;eel. c„h'ianr FIAC boon annraised in "as is" condition. All sales closed on the dates above. Reasonable marketing period is 90-120 days at value estimate. FinaiReconcitiationMost weight has been placed on the Sales Comparison Approach, which best reflects the actions of typical buyers and sellers. This is further supported by the Cost Approach and current offerings for sale. Income Approach not valid in a mostly owner occupied area. The purpose of this appraisal is to estimate the market value of the real property that is the subject of this report, based on the above conditions and the certification, contingent and limiting conditions, and market value definition that are stated in the attached Freddie Mac Form 439/Fannie Mae Form 1004B (Bevis 6 / 93 ). I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS ORT, AS OF March 2, 1994 (WHICH IS THE DATE OF I SPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE 9,6 , 000 APPRAISE :- SUPERVISORY APPRAI R ( Y IF REQUIRED): SignaturCrafrg Signature/ ----- Name Anthony een Name Dennis Dan k SR RP Inspect Property Date Report Signed 3/05 / ,4?5/ Date Report Signed % Slate Certification # - State State Certification # CG1 152 8 State CO Stale Or State License # AR01321457 Freddie Mac Form 70 6/993 State CO Or State License # PAGE 2 OF Fannie Mae Form 1004 6/93 Did © Did Not IS Ism .a, V 40.44.1 on TM MY a,.. Uv. La.ufvm ,r.r.n 0300, 234. MAR Accredited Appraisers Supplemental Valuation Section ITEM SUBJECT UIaORM RESIDENTIAL APPRAISAL F.,-- ORT COMPARABLE NO.4 COMPARABLE NO.5 File No. 7370 COMPARABLE NO.6 205 Broad St. Address Milliken Proximity to Subject Sales Price Price/Gross Uv. Area Data Source Verification Source VALUE ADJUSTMENTS Sales or Financing Concessions Date of Sale/Time Location Leasehold/Fee Simple Site View Design and Appeal OualiNofConstruction Me Condition Above Grade Room Count Gross Living Area Basement & Finished Rooms Below Grade Functional Utility Heating/Cooling Energy Efficient Items Garage/Carport Porch, Patio, Deck, Fireplace(s), etc. Fence, Pool, etc. $ 12 blocks east Ref i 122 Aragon Ct. $ .., 32,000 0.00 0 Inspection DESCRIPTION /94 Milliken Fee 17250 SF/Aver Neighborhood Ranch/AverageRanch/Average Brick/AverageFrame/Average 19 Yrs. Average 26.490 MLS/County Records Listing agent DESCRIPTION Cash No sir pts 6/28/93 illiken Fee 8015 SF/Aver Neighborhood •(-)$AONsimmit No adi DESCRIPTION (-)f smelt DESCRIPTION •(-)$MNslment Total 5 Bdrma Baths Total 1 1 .230 Sq. Ft. 1230 Sq.Ft. 807, Finished Average FWA/None Storm windowsNone 2 Att. CarageNone Patio Fireplace Appliances 18 Yrs. Average 7 edrm, Bath, 4 1.5 1 , 208 sq. Ft. None N/A Average FWA/None None None Appliances 2,000 -1,500 +4,300 +3,400 +1,000 3,000 +1,000 +1,000 Total Bdrm, Baths Sq. Ft. Total Bdrms Baths Net Adl.(total) 1)(j f )- ;S 14,200 (J (� ;s Adjusted Sales Price Ce1'OSA C,J.r 8 GrQ13 r I0, 0'. of Comparable ........ s. MMtr ' 44,4::8 46,200 I't tr 0.0'S Comments on Sales Comparison (including the subject property's compatibility to the neighborhood, etc. ): 0 0 Sq. Ft ITEM Date, Price and Data Source for prior sales SUBJECT None N/A COMPARABLE NO.4 COMPARABLE NO. 5 COMPARABLE NO. 6 witlinvearofappraisal County recrda Analysis of any current agreement of sale, optlon:or listing of the subject properly and analysis of any prior sales of subject and comparables within one year of the date of appraisal: IM Ivm n, paaa d on I , Law,- arm vv,,... ,WW) 3la-lwn File No. 7370 LEGAL DESCRIPTION:B1 47 exc beg westerly 137.667 ft from SE corner of B1 47 northerly 125 ft thence westerly 66.167 ft to beg and also exc beg 125 ft north to NE corner thence westerly 125 ft southerly to pt which lies on a line running westerly from POB thence easterly to beg. Also exc lots 22-32. L .F ce a) J IC [C di 0 3i t III VI In to it $ M LOCATION MAP + ,- •3AV 3Itl0fNV 3AV 3AV 3 "3AV 3M ;t. GZ 'MAN 31Y1S '0100 STREET ONLY z ),- 4 4 2 3 w = R 0 O Or w = Q z a F 1 m w i' in a 0 0 i 0 P m o VC C 0 VC r 0 14 N 0 I I I ' II 1 NOVEMBER 1988 0 8 0 0 n a 0 0 SKETCH ADDENDUM Borrower/Client Property Address City County Lender State Zip Code ; j I • I . . • 1, • !• • • 1 • • i . . • i • • I TATO I � I • • Lf I • • • • • C •I IlL I• . . r. f •i ! • • I • • I• . 1 . t • t - I f ; • I• • .r: {''t 'f.'1I • R iA Ccwakn s i-1 • • i I. . •,t - I: • !•t iI, • t ,• • •iI',' • .11 !1 1 I 't' I f • I I t I 4. 1 I •i . 1 I I I...i I.. •1;• • I I l " I ' EI. l I...; FW-73A 6 1980 Forms and Worms Inc., 315 Whitney Ave., New Haven, CT 06511 All Rights Reserved 1 (800) 243-4545 1•••w• I I V,^A.• COMPARABLE SALES PHOTO ADDENDUM File No. 7370 COMPARABLE SALE 14 122 Aragon Ct. Sale Date:6/28/93 Sale Puce: $32,000 Hello