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Home My WebLink About20182096.tiffAugust 2, 2018 Petitioner: ESTEVEZ MARICRUZ 3903 EAGLES NEST DR EVANS, CO 80620-9532 CLERK TO THE BOARD PHONE (970) 400-4226 FAX (970) 336-7233 WEBSITE: www.co.weld.co.us 1150 O STREET P.O. BOX 758 GREELEY CO 80632 Agent (if applicable): RE: THE BOARD OF EQUALIZATION 2018, WELD COUNTY, COLORADO NOTICE OF DECISION Docket #: 2018-2096 Appeal #: 2008217920 Hearing Date: Dear Petitioner: On the day indicated above, the Board of County Commissioners of Weld County Colorado convened and acting as the Board of Equalization, pursuant to C.R.S. Section 39-8-101 et seq., considered petition for appeal of the Weld County Assessor's valuation of your property described above, for the year 2018. Account # Decision The Assessment and valuation is set as follows: Actual Value as Actual Value as Set by Determined by Assessor Board R8226600 Stipulated - Approved Stipulated Value $250,000 $230,000 A denial of a petition, in whole or in part, by the Board of Equalization must be appealed within thirty (30) days of the date the denial is mailed to you. You must select only one of the following three (3) options for appeal: 1. Appeal to Board of Assessment Appeals: You have the right to appeal the County Board of Equalization's decision to the Colorado Board of Assessment Appeals. A hearing before that Board will be the last time you may present testimony or exhibits or other evidence, or call witnesses in support of your valuation. If the decision of the Board of Assessment Appeals is further appealed to the Court of Appeals pursuant to C.R.S. Section 39-8-108(2), only the record of proceedings from your hearing before the Board of Assessment Appeals and your legal brief are filed with the appellate court. All appeals to the Board of Assessment Appeals filed after August 10, 2016, MUST comply with the following provisions of C.R.S. Section 39-8-107(5): (5)(a)(I) On and after August 10, 2011, in addition to any other requirements under law, any petitioner appealing either a valuation of rent -producing commercial real property to the board of assessment appeals pursuant to section 39-8-108(1) or a denial of an abatement of taxes pursuant to section 39-10-114 shall provide to the county board of equalization or to the board of county commissioners of the county in the case of an abatement, and not to the board of assessment appeals, the following information, if applicable: (A) Actual annual rental income for two full years including the base year for the relevant property tax year; (B) Tenant reimbursements for two full years including the base year for the relevant property tax year; (C) Itemized expenses for two full years including the base year for the relevant property tax year; and (D) Rent roll data, including the name of any tenants, the address, unit, or suite number of the subject property, lease start and end dates, option terms, base rent, square footage leased, and vacant space for two full years including the base year for the relevant property tax year. (II) The petitioner shall provide the information required by subparagraph (I) of this paragraph (a) within ninety days after the appeal has been filed with the board of assessment appeals. (b)(I) The assessor, the county board of equalization, or the board of county commissioners of the county, as applicable, shall, upon request made by the petitioner, provide to a petitioner who has filed an appeal with the board of assessment appeals not more than ninety days after receipt of the petitioner's request, the following information: (A) All of the underlying data used by the county in calculating the value of the subject property that is being appealed, including the capitalization rate for such property; and (B) The names of any commercially available and copyrighted publications used in calculating the value of the subject property. (II) The party providing the information to the petitioner pursuant to subparagraph (I) of this paragraph (b) shall redact all confidential information contained therein. (c) If a petitioner fails to provide the information required by subparagraph (I) of paragraph (a) of this subsection (5) by the deadline specified in subparagraph (II) of said paragraph (a), the county may move the board of assessment appeals to compel disclosure and to issue appropriate sanctions for noncompliance with such order. The motion may be made directly by the county attorney and shall be accompanied by a certification that the county assessor or the county board of equalization has in good faith conferred or attempted to confer with such petitioner in an effort to obtain the information without action by the board of assessment appeals. If an order compelling disclosure is issued under this paragraph (c) and the petitioner fails to comply with such order, the board of assessment appeals may make such orders in regard to the noncompliance as are just and reasonable under the circumstances, including an order dismissing the action or the entry of a judgment by default against the petitioner. Interest due the taxpayer shall cease to accrue as of the date the order compelling disclosure is issued, and the accrual of interest shall resume as of the date the contested information has been provided by the taxpayer. Appeals to the Board of Assessment Appeals must be made on forms furnished by that Board, and must be mailed or delivered within thirty (30) days of the date the denial by the Board of Equalization is mailed to you The address and telephone number of the Board of Assessment Appeals are: Board of Assessment Appeals 1313 Sherman Street, Room 315 Denver, Colorado 80203 Telephone Number: 303-864-7710 Email: baa@state.co.us Fees for Appeal to the Board of Assessment Appeals: A taxpayer representing himself is not charged for the first two (2) appeals to the Board of Assessment Appeals. A taxpayer represented by an attorney or agent must pay a fee of $101.25 per appeal. OR 2. Appeal to District Court: You have the right to appeal the decision of the Board of Equalization to the District Court of the /county wherein your property is located: in this case that is Weld County District Court. A hearing before The District Court will be the last time you may present testimony or exhibits or other evidence, or call witnesses in support of your valuation. If the decision of the District Court is further appealed to the Court of Appeals pursuant to C.R.S. Section 39-8-108(1), the rules of Colorado appellate review and C.R.S. Section 24-4-106(9), govern the process. OR 3. Binding Arbitration: You have the right to submit your case to binding arbitration. If you choose this option, the arbitrator's decision is final and you have no further right to appeal your current valuation. C.R.S. Section 39-8-108.5 governs this process. The arbitration process involves the following: a. Select an Arbitrator: You must notify the Board of Equalization that you will pursue arbitration. You and the Board of Equalization will 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 (i.e., Weld) will select the arbitrator. b. Arbitration Hearing Procedure: Arbitration hearings are held within sixty (60) days from the date the arbitrator is selected, and are set by the arbitrator. Both you and the Board of Equalization are entitled to participate in the hearing. The hearing is informal. The arbitrator has the authority to issue subpoenas for witnesses, books, records documents and other evidence pertaining to the value of the property. The arbitrator also has the authority to administer oaths, and determine all questions of law and fact presented to him. The arbitration hearing may be confidential and closed to the public if you and the Board of Equalization agree. The arbitrator's decision must be delivered personally or by registered mail within ten (10) days of the arbitration hearing. c. Fees and Expenses: The arbitrator's fees and expenses are agreed upon by you and the Board of Equalization. In the case of residential real property, the fess may not exceed $150.00 per case. For cases other than residential real property, the arbitrator's total fees and expenses are agreed to by you and Board of Equalization, but are paid by the parties as ordered by the arbitrator. If you have questions concerning the above information, please call me at (970) 400-4226. Very truly yours, e‘tz6„,e Esther E. Gesick, Clerk to the Board Weld County Board of County Commissioners and Board of Equalization Cc: Christopher Woodruff, Weld County Assessor COUNTY BOARD OF EQUALIZATION WELD COUNTY Single County Schedule Number R8226600 STIPULATION (As To Tax Year 2018 RE PETITION OF : NAME: ADDRESS: Alejandra Estevez Actual Value) 3506 Columbine Ct. Evans, CO 80620-1705 Petitioner (s) and the Weld County Assessor hereby enter into this Stipulation regarding the tax year 2018 valuation of the subject property, and jointly move the Board of Equalization to enter its order based on this Stipulation. Petitioner (s) and Assessor agree and stipulate as follows: 1. The property subject to this Stipulation is described as: Real Property 2. The subject property is classified as Residential property. 3. The County Assessor originally assigned the following actual value to the subject property for the tax year 2018 : Total $250,000 4. After further review and negotiation, Petitioner (s) and Weld County Assessor agree to the following tax year2018 actual value for the subject property: Total $230,000 5. The valuation, as established above, shall be binding only with respect to tax year2018 6. Brief narrative as to why the reduction was made: Correction of details and review of market sales. 7. Both parties agree that: fThe hearing scheduled before the Board of Equalization on at be vacated. ✓QA hearing has not yet been scheduled before the Board of Equalization. 1 ao t - - ' Oq Co c-'so(OO DATED this 9th clay of July , 2018 , Atanclra Estevez Alejandro Estevez („jut 5, 20181 Petitioner(s) or Agent or Attorney Address: 3506 COLUMBINE COURT EVANS, CO 80620 Telephone: 970-405-6606 Docket Number R8226600 Stip-1.Frm (Assistant) County Attorney for Respondent, Weld County Board of Commissioners Address: 1150 "O" Street P.O. Box 758 Greeley, CO 80632 Telephone:(970) 336-7235 4/? County Assessor Address: 1400 N.17th Avenue Greeley, CO 80631 Telephone: (970) 400-3650 2 Adobe Sign Document History V Z 07/10/2018 Created: 07/09/2018 By: Duane Robson (drobson@co.weld.co.us) Status: Signed Transaction ID: CBJCHBCAABAAAJ7uQO47pCp3Qu-ZkY3jdP5DTLtIAA5b "R8226600 Estevez Stipulation" History Document created by Duane Robson (drobson@co.weld.co.us) 07/09/2018 - 10:36:16 AM MDT- IP address: 204.133.39.9 Document emailed to Duane Robson (drobson@co.weld.co.us) for approval 07/09/2018 - 10:36:18 AM MDT Document approved by Duane Robson (drobson@co.weld.co.us) Approval Date: 07/09/2018 - 10:36:35 AM MDT - Time Source: server- IP address: 204.133.39.9 Document viewed by Duane Robson (drobson@co.weld.co.us) 07/09/2018 - 10:37:00 AM MDT- IP address: 204.133.39.9 Document approved by Duane Robson (drobson@co.weld.co.us) Approval Date: 07/09/2018 - 10:38:56 AM MDT - Time Source: server- IP address: 204.133.39.9 Document emailed to Chris Woodruff (cwoodruff@co.weld.co.us) for signature 07/09/2018 - 10:38:57 AM MDT Document viewed by Chris Woodruff (cwoodruff@co.weld.co.us) 07/09/2018 - 10:39:07 AM MDT- IP address: 204.133.39.9 Document e -signed by Chris Woodruff (cwoodruff@co.weld.co.us) Signature Date: 07/09/2018 - 10:40:01 AM MDT - Time Source: server- IP address: 204.133.39.9 Document emailed to Alejandra Estevez (cpaestevez@gmail.com) for signature 07/09/2018 - 10:40:02 AM MDT Document viewed by Alejandra Estevez (cpaestevez@gmail.com) 07/09/2018 - 11:56:44 AM MDT- IP address: 75.71.93.164 Adobe Sign Document e -signed by Alejandra Estevez (cpaestevez@gmail.com) Signature Date: 07/09/2018 - 12:02:31 PM MDT - Time Source: server- IP address: 75.71.93.164 Document emailed to Bob Choate (weld-cboe@weldgov.com) for signature 07/09/2018 - 12:02:32 PM MDT Document viewed by Bob Choate (weld-cboe@weldgov.com) 07/09/2018 - 12:19:11 PM MDT- IP address: 204.133.39.9 Document e -signed by Bob Choate (weld-cboe@weldgov.com) Signature Date: 07/10/2018 - 12:05:58 PM MDT - Time Source: server- IP address: 204.133.39.9 Signed document emailed to Alejandra Estevez (cpaestevez@gmail.com), canaya@weldgov.com, Chris Woodruff (cwoodruff@co.weld.co.us), Duane Robson (drobson@co.weld.co.us), and 2 more 07/10/2018 - 12:05:58 PM MDT Adobe Sign From: weld-cboe@weldgov.com To: CTB-Countv Board of Equalization Subject: Board of Equalization Appeal Submitted Date: Tuesday, July 3, 2018 4:11:46 PM Attachments: APPRAISAL 3903 Eanles Nest Dr.odf Appeal Submitted: 04:11 PM on Tuesday July 3, 2018 Contact Information Supplied: • Contact Name: ALEJANDRA ESTEVEZ • Contact Email: CPAESTEVEZ@GMAIL.COM • Contact Phone: (970) 405 - 6606 • Email Preference: Contact through email Property: R8226600 - 3903 EAGLES NEST DR , EVANS Legal: EVS 1HRRA L61 BLK1 HUNTERS RESERVE 1ST FILING REPLAT A Estimated Value: $222,000 Reason: AN APPRAISAL DONE AS OF 2/27/2016 COMPLETED BY KENNETH P. LAVERTU FROM TRI-COUNTY APPRAISALS SHOWS A PROPERTY VALUE OF $222,000. *SEE ATTACHED COPY OF APPRAISAL* Documents 1.) APPRAISAL 3903 Eagles Nest Dr.pdf You have selected the following Date Preferences: 2018-2096 Tri-County Appraisals (970) 613-0551 NVO C FROM: Tri-County P.O. Windsor, Telephone Appraisals Box 264 CO 80550 Number: 970-613-0551 Fax Number: 970-613-0883 INVOICE NUMBER 1602264 DATE 03/07/2016 REFERENCE TO: Alejandra 3506 Evans, Telephone Alternate Estavez Columbine Ct CO 80620 Number: Number: & Maria D Crus Estebez Fax Number: E -Mail: Internal Lender Client. Main Other Federal Employer Order #: 1602264 Case #: File #: File # on form: 1602264 File # on form: Tax ID: 20.2766071 ID: DESCRIPTION Purchaser/Borrower: Property Legal Address: Description: Lender: County: City: N/A N/A 3903 Eagles Nest Evans Weld EVES 1HRRA L61 Client: Dr State: BLK1 HUNTERS RESERVE 1ST FILING Alejandra Estavez & Maria D Crus Estebez CO Zip: 80620 REPLAT A FEES AMOUNT Appraisal Services SUBTOTAL i 450.00 i i 450.00 PAYMENTS AMOUNT Check Check Check #: 104 #: #: Date: Date: Date: 2/27/2016 Description: Description: Description: SUBTOTAL 450.00 450.00 TOTAL DUE $ 0 Form NlV5 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE APPRAISAL OF REAL PROPERTY LOCATED AT 3903 Eagles Nest Dr Evans, CO 80620 EVS 1HRRA L61 BLK1 HUNTERS RESERVE 1ST FILING REPEAT A FOR N/A OPINION OF VALUE 222,000 AS OF 02/27/2016 BY Kenneth P. Lavertu, SRA Tri-County Appraisals P.O. Box 264 Windsor, CO 80550 97'0-613-0551 tricountyappraisal@earthlink.net Form GA6V - "TOTAL" appraisal software by a la mode, inc. -1-666-ALAMOBE Tri-County Appraisals P.O. Box 264 Windsor, CO 80550 March 4, 2016 N/A Re: Property: Borrower: File No.: 3903 Eagles Nest Dr Evans, CO 80620 N/A 1602264 In accordance with your request, we have appraised the above referenced property. The report of that appraisal is attached. The purpose of this appraisal is to estimate the market value of the property described in this appraisal report, as improved, in unencumbered fee simple title of ownership. This report is based on a physical analysis of the site and improvements, a locational analysis of the neighborhood and city, and an economic analysis of the market for properties such as the subject. The appraisal was developed and the report was prepared in accordance with the Uniform Standards of Professional Appraisal Practice. The value conclusions reported are as of the effective date stated in the body of the report and contingent upon the certification and limiting conditions attached. It has been a pleasure to assist you. Please do not hesitate to contact me or any of my staff if we can be of additional service to you. Sincerely,. Xennaritz Kenneth P. Lavertu, SRA Appraiser SUMMARY OF SALIENT FEATURES F- cC cr 7 z Subject Legal City County State Zip Census Map Code Reference Description Address Tract 3903 Eagles Nest EVS 1HRRA L61 Evans Weld CO 80620 0010.05 10/19 Dr BLK1 HUNTERS RESERVE 1ST FILING REPLAT A. 1- 0 w CO w 0 O_ CO w op Sale Date Price of Sale $ i- w ' Borrower Lender/Client N/A N/A cb w w a I z 0 1- O_ 2- co IS' Size Price Location Age Condition Total Bedrooms Baths (Square Feet) per Square Rooms Foot 1,496 $ N; Res; 16 C4 4 2 2.1 cc cO cc ft Appraiser Date of Appraised Value Kenneth P. Lavertu, 02/27/2016 SRA w Final Estimate of Value $ 222,000 Form SSD - "TOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE Tri-County Appraisals (970) 613-0551 Uniform Residential Appraisal Report File # 1602264 The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property. Property Address 3903 Eagles Nest Dr Borrower N/A City Evans State Co Zip Code 80620 Owner of Public Record Alejandra Estevez Legal Description EIS 1HRRA L61 BLK1 HUNTERS RESERVE 1ST FILING REPLAT A County Weld Assessor's Parcel # 095925001061 Tax Year 2015 R.E. Taxes $ 1.252 Neighborhood Name Hunters Reserve Map Reference 10/19 Census Tract 0010.05 Occupant 0 Owner Tenant Vacant Special Assessments $ 0 PUD HOA $ 0 per year ❑ per month Property Rights Appraised Assignment Type 1j1 Fee Simple Purchase Transaction Leasehold Other (describe Refinance Transaction Other (describe) Divorce Lender/Client N/A Address Is the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal? Yes Report data source(s) used, offering price(s), and date(s). IRESMLS I did performed. did not analyze the contract for sale for the subject purchase transaction.. Explain the results of the analysis of the contract for sale or why the analysis was not Contract Price $ Date of Contract Is the property seller the owner of public record? Yes No Data Source(s) Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower? If Yes, report the total dollar amount and describe the items to be paid. Yes Note: Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood Characteristics One -Unit Housing Trends One -Unit Housing Present Land Use % Location Built -Up Urban O Suburban Rural Over 75% 25-75% Under 25% Property Values Demand/Supply Increasing Shortage Stable Declining PRICE AGE One -Unit In Balance Over Supply $ (000) (yrs) 2-4 Unit 100° 0 % Growth Rapid Stable Slow Marketing Time 1 1 Under 3 mths 3-6 mths Over 6 mths 159 Low 5 Multi -Family 0 % Neighborhood Boundaries 37th St to the north; 42nd St to the south; Harbor Ln to the east; and 35th Ave 250 High 25 Commercial % to the west. 205 Pred. 15 Other 0 % Neighborhood Description The subject neighborhood is located in west Evans with all commercial and supporting services in proximity.. Access to the neighborhood is good provided by 37th St. There are no adverse factors which affect the neighborhood in general or the subject property in particular. In conclusion, the neighborhood is desirable due to its accessible location within the community. Market Conditions (including support for the above conclusions) The local Multiple Listing Service showed the following statistics for the subject area as o the date of this appraisal: average marketing time - 52 days; average sale price - $205,000. The typical means of financing is conventional. Mortgage rates continue to fluctuate between 4.0 and 5.0 percent. Dimensions 4'x78'x18'x18'x61'xl08'xl03' approx. Area 9,571 sf Specific Zoning Classification R1 Shape Irregular View N;Res; Zoning Description Sin Famil Residential District Zoning Compliance O Legal Legal Nonconforming (Grandfathered Use) No Zoning Illegal (describe) Is the highest and best use of subject property as improved (or as proposed per plans and specifications) the present use? 1�1 Yes If No. describe Utilities Public Other (describe) Public Other (describe) Off -site Improvements - Type Public Private Electricity Ii1 Water Street Paved ►,1 Gas Sanitary Sewer My1 Alley None FEMA Special Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # 08123C 1726E FEMA Map Date 01/20/2016 Are the utilities and off -site improvements typical for the market area? 1`1 Yes No If No, describe Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? Yes Ii1 No If Yes, describe General Description Foundation Exterior Description materials/condition Interior materials/condition Units 1�1 One # of Stories Type Det. One with Accessory Unit 2 Att. S-Det./End Unit ►�1 Concrete Slab Full Basement Basement Area Crawl Space Partial Basement 732 sq.ft. Foundation Walls Exterior Walls Roof Surface Concrete/Avg Msnt/Brick/Avg Comp.Shingle/Avg Floors Crpt/Hdwd/Avg Walls Drywall/Avg Trim/Finish Wood/Avg 1�1 Existing Proposed Design (Style) Contemp. Year Built 200O Under Const. Basement Finish Outside Entry/Exit Evidence of Infestation 95 % Sump Pump Gutters & Downspouts Alum/Avg Window Type DblPnVinyl/Avg Storm Sash/insulated Vin/Ins/Avg Bath Floor Vinyl/Avg Bath Wainscot Tile/Avg Car Storage None Effective Age (Yrs) 10 Attic Drop Stair Roar 1�1 None Stairs Scuttle Dampness Heating ►�1 Other Cooling FWA 1�1 Settlement HWBB Radiant Fuel Gas Central Air Conditioning 1�1 Screens Amenities M sh/Avg Woodstove(s) # Fireplace s) # Fence Wood Patio/Deck Patio Ij1 Porch Cvrd 1,1 Mt1 Driveway # of Cars 3 Driveway Surface Concrete Garage Carport # of Cars 3 # of Cars 0 Finished Appliances ►1 Refrigerator Heated F�1 Individual i�1 Other Range/Oven Dishwasher 0 Disposal ►,1 Microwave Pool None Other None Washer/Dryer Other (describe) Att. Det. Built-in Finished area above grade contains: 4 Rooms 2 Bedrooms 2.1 Bath (s) 1,496 Square Feet of Gross Living Area Above Grade Additional features (special energy efficient items, etc.). Thermopane windows; fireplace in the family room; basement finished with family room, bedroom and bath. Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.). C4;No updates in the prior 15 years;The subject property is in average condition with no major repairs needed. Based on the subject's condition the effective age has been estimated to be approximately 10 years. Physical depreciation by the Economic Age/Life Method. No functional or external obsolescence noted. Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? Yes K1 No If Yes, describe Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? Yes If No, describe Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 1 of 6 Form 1004UAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Fannie Mae Form 1004 March 2005 Uniform Residential Appraisal Report File # 1602264 There are 0 comparable properties currently offered for sale in the subject neighborhood ranging in price from $ 0 to $ 0 . There are 11 comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ 165,000 to $ 215,000 . FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3 Address 3903 Evans, Eagles Nest CO 80620 Dr 2402 Evans, Haven CO Ct 80620 3910 Evans, Partridge CO Ave 80620 2601 Port Evans, CO St 80620 Proximity to Subject 0.52 miles E 0.15 miles E 0.37 miles E Sale Price $ $ 215000 $ 215000 $ 212000 Sale Price/Gross Liv. Area $ sq.ft. $ 123.99 sq.ft. $ 138.09 sq.ft. $ 163..08 sq.ft. Data Source(s) IRES#774944;DOM 47 IRES#774972;DOM 47 IRES#764588;DOM 81 Verification Source(s) Broker/CountyRcds Broker/CountyRcds Broker/CountyRcds VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment Sales Concessions or Financing ArmLth FHA;0 ArmLth Conv;0 ArmLth FHA;0 Date of Sale/Time s10/15;c09/15 s10/15;c09/15 s08/15;c05/15 Location N;Res; N;Res; N;Res; N;Res; Leasehold/Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple Site 9,571 sf 8454 sf 0 6103 sf 0 7532 sf 0 View N;Res; N;Res; N;Res; N;Res; Design (Style) DT2;Contemp. DT2;TriLevel 0 DT2;TriLevel 0 DT2;Contemp. Quality of Construction Q4 Q4 Q4 Q4 Actual Age 16 14 0 15 0 15 0 Condition C4 C4 C4 C4 Above Grade Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Room Count 4 2 2.1 6 3 2.0 -1,000 8 3 2.1 -5,000 6 3 2.0 -1,000 Gross Living Area 1,496 sq.ft. 1734 sq.ft. -7,100 1557 sq.ft. 0 1300 sq.ft. +5,900 Basement Rooms Below & Finished Grade 732sf695sfin l rrl br1.0ba0o 534sf0sfin 0 +8,000 391sf391sfin 0rr1 br0.0ba0o sfin +1,400 +4,000 694sf624sfin 1 rr1 brl .0ba0o 0 = Functional Utility Average Average Average Average cc Heating/Cooling Gas FA/AC Gas FA/AC Gas FA/AC Gas FA/AC O ct Energy Efficient Items Thermopane Thermopane Thermopane Thermopane Et Garage/Carport 3ga3dw 2ga2dw +5,000 2ga2dw +5,000 2ga2dw +5,000 z Porch/Patio/Deck Patio, Porch Patio, Deck 0 Patio, Deck 0 Patio, Porch O Fireplace Fireplace None +2,000 None +2,000 None +2,000 ce a 0 Net Adjustment (Total) r + - - $ 6,900 O + - - $ 7,400 1:l + - - $ 11,900 co Adjusted of Comparables Sale Price Net Gross Adj. Adj. 10..7 3.2 % % $ 221,900 Net Gross Adj. Adj. 3.4 8.1% % $ 222,400 Net Gross Adj. Adj. 5.6 % 6.6 % $ 223,900 I ►i� did did not research the sale or transfer history of the subject property and comparable sales. If not, explain My research d did e did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal. Data Source(s) IRESMLS/County Records My research did wI did not reveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale. Data Source(s) I RESMLS/County Records Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3). ITEM SUBJECT COMPARABLE SALE #1 COMPARABLE SALE #2 COMPARABLE SALE #3 Date of Prior Sale/Transfer Price of Prior Sale/Transfer Data Source(s) CoreLogic CoreLogic CoreLogic CoreLogic Effective Date of Data Source(s) 03/04/2016 03/04/2016 03/04/2016 03/04/2016 Analysis of prior sale or transfer history of the subject property and comparable sales None Summary of Sales Comparison Approach See attached addenda. Indicated Value by Sales Comparison Approach $ 222,000 Indicated Value by: Sales Comparison Approach $ 222,000 Cost Approach (if developed) $ Income Approach (if developed) $ See Attached Addendum z 0 p This appraisal is made ICI 'as is", subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed, subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or subject to the o following required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair: w ce Based conditions, $ on a complete and 222,000 appraiser's pp , ,visual inspection certification, as of 02/27/2016 of my the interior (our) and opinion p , which exterior of the is areas market the date of value, of the subject as inspection defined, property, and of the defined the real effective scope property date of that of work, this is the appraisal. statement subject 1 of assumptions of this report p and is limiting Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 2 of 6 Form 1004UAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Fannie Mae Form 1004 March 2005 Uniform Residential Appraisal Report File # 1602264 See Attached Addendum E- 2 W 2 M 0 0 J 2 0 H 0 0 COST APPROACH TO VALUE (not required by Fannie Mae) Provide adequate information for the lender/client to replicate the below cost figures and calculations. Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value) OPINION OF SITE VALUE _$ T ESTIMATED REPRODUCTION OR ❑ REPLACEMENT COST NEW 8 Source of cost data DWELLING Sq.Ft. @ $ _$ ce Quality rating from cost service Effective date of cost data Sq.Ft. @ $ _$ d Comments on Cost Approach (gross living area calculations, depreciation, etc.) =$ to Due to age of subject and difficulty in estimating depreciation (age/life Garage/Carport Sq.Ft. @ $ _$ o method) in older structures the Cost Approach was not developed. Total Estimate of Cost -New =$ Less Physical Functional External Depreciation =$( Depreciated Cost of Improvements =$ "As -is" Value of Site Improvements =$ Estimated Remaining Economic Life (HUD and VA only) 50 Years INDICATED VALUE BY COST APPROACH = $ w INCOME APPROACH TO VALUE (not required by Fannie Mae) 2 Estimated Monthly Market Rent $ Gross Rent Multiplier = $ Indicated Value by Income Approach z Summary of Income Approach (including support for market rent and GRM) PROJECT INFORMATION FOR PUDs (if applicable) Is the developer/builder in control of the Homeowners' Association (HOA)? Yes No Unit type(s) Detached Attached Provide the following information for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit. Legal Name of Project a Total number of phases Total number of units Total number of units sold H Total number of units rented Total number of units for sale Data source s 2 Was the project created by the conversion of existing building(s) into a PUB? Yes No If Yes, date of conversion. re O Does the project contain any mufti -dwelling units? Yes No Data Source z Are the units, common elements, and recreation facilities complete? Yes No If No, describe the status of completion. 0 o. Are the common elements leased to or by the Homeowners' Association? Yes No If Yes, describe the rental terms and options. Describe common elements and recreational facilities. Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 3 of 6 Form 1004UAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Fannie Mae Form 1004 March 2005 Uniform Residential Appraisal Report File # 1602264 This report form is designed to report an appraisal of a one -unit property or a one -unit property with an accessory unit; including a unit in a planned unit development (PUD). This report form is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project. This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value, statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intended use, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's continuing education or membership in an appraisal organization, are permitted. SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources, and (5) report his or her analysis, opinions, and conclusions in this appraisal report. INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of this appraisal for a mortgage finance transaction. INTENDED USER: The intended user of this appraisal report is the lender/client. DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with the sale. *Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the following assumptions and limiting conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it, except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opinions about the title. 2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements. The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand, or as otherwise required by law. 5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the research involved in performing the appraisal. Unless otherwise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied. 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, this appraisal report must not be considered as an environmental assessment of the property. 6. 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 the completion, repairs, or alterations of the subject property will be performed in a professional manner. Freddie Mac Form 70 March 2005 DAD Version 9/2011 Page 4 of 6 Form 10I4UAD - "TOTAL" appraisal software by a la mode, inc. - 1-B00-ALAMODE Fannie Mae Form 1004 March 2005 Uniform Residential Appraisal Report File # 1602264 APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: 1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report. 2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition of the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the livability, soundness, or structural integrity of the property. 3. I performed this appraisal in accordance with the requirements of 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 at the time this appraisal report was prepared. 4. I developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop them, unless otherwise indicated in this report. 5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report. 6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report. 7. I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property. 8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home that has been built or will be built on the land. 9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales. 10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest in the sale or financing of the subject property. 11. I have knowledge and experience in appraising this type of property in this market area.. 12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listing services, tax assessment records, public land records and other such data sources for the area in which the property is located. 13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct. 14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. have noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property or that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject property. 15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and information in this appraisal report are true and correct. 16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report. 17. I have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, marital status, 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 or on any other basis prohibited by law. 18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application). 19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If relied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in 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 this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take no responsibility for it. 20. I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization that ordered and will receive this appraisal report. Freddie Mac Form 70 March 2005 DAD Version 9/2611 Page 5 of 6 Form 1004UAD - "TOTAL" appraisal software by a la mode, inc. - 1-B00-ALAMODE Fannie Mae Form 1004 March 2005 Uniform Residential Appraisal Report File # 1602264 21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of the borrower; the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; other secondary market participants; data collection or reporting services; professional appraisal organizations; any department, agency, or instrumentality of the United States; and any state, the District of Columbia, or other jurisdictions; without having to obtain the appraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, public relations, news, sales, or other media). 22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain laws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me. 23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any mortgage finance transaction that involves any one or more of these parties. 24. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. 25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/or criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 1001, et seq., or similar state laws. SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that: 1. I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 2. I accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 3. The appraiser identified in this appraisal report is either a sub -contractor or an employee of the supervisory appraiser (or the appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law. 4. This appraisal report complies 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 at the time this appraisal report was prepared. 5. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature Name Kenneth P. Lavertu, BRA Company Name Tri-County Appraisals Company Address P.Q. Box 264 Windsor, CO 80550 Telephone Number 970-613-0551 Email Address trioountyappraisal cx earthlink.net Date of Signature and Report 03/07/2016 Effective Date of Appraisal 02/27/2016 State Certification # CR40004811 or State License # or Other (describe) State CO State # Expiration Date of Certification or License 12/31/2017 ADDRESS OF PROPERTY APPRAISED 3903 Eagles Nest Dr Evans, CO 80620 APPRAISED VALUE OF SUBJECT PROPERTY LENDER/CLIENT Name Alejandra Estavez & Maria D Crus Estebez 222,000 Company Name N/A Company Address Email Address Signature Name Company Name Company Address Telephone Number Email Address Date of Signature State Certification # or State License # State Expiration Date of Certification or License SUBJECT PROPERTY Did not inspect subject property Did inspect exterior of subject property from street Date of Inspection Did inspect interior and exterior of subject property Date of Inspection COMPARABLE SALES Did not inspect exterior of comparable sales from street Did inspect exterior of comparable sales from street Date of Inspection Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 6 of 6 Form 1004UADJ - "TOTAL" appraisal software by a la mode, inc.-1-80Q-ALAMODE Fannie Mae Form 1004 March 2005 Supplemental Addendum File No. 1602264 Borrower N/A Property Address 3903 Eagles Nest Dr City Evans County Weld State co Zip Code 80620 Lender/Client N/A • URAR: Sales Comparison Comments Three comparable sales were selected for analysis with the subject property. These are the most recent sales that are considered to best represent the subject. All three sales were given consideration in the final value estimation. Additionally, all three sold under terms and conditions that are typical in the marketplace. MARKET CONDITIONS: There was a lack of data to support any adjustment for market conditions over the time period shown by the comparable sales, therefore no adjustments were warranted. AGE/CONDITION: The age and condition of the comparables are being considered together. This adjustment takes into consideration all forms of physical deterioration and is based upon an exterior inspection, agent's description, and the appraiser's judgement. BEDROOM ADJUSTMENT: Bedroom adjustments were based on $5,000 per bedroom. BATHROOM ADJUSTMENT: Bath adjustments were based on $1,000 per fixture. GROSS LIVING AREA ADJUSTMENT: Adjustments for differences in gross living area were calculated at $30.00 per square foot. BASEMENT ADJUSTMENT: Adjustments for basement reflect the varying sizes and finish as well as the differing appeals between standard basement depths, garden levels, and walk -out basements due to their increased natural lighting. Basement area is adjusted at $4.00 per square foot. MISCELLANEOUS ADJUSTMENTS: Adjustments for various physical characteristics are based on typical market reaction and/or appraiser judgment and do no necessarily reflect costs. RECONCILIATION OF THE SALES COMPARISON APPROACH: All three sales adjusted well and are considered good competing properties. Therefore, based on the above analysis and giving roughly equal weight to each sale, an indicated value of $ 222,000 is concluded for this approach. • URAR: Final Reconciliation All three approaches to value were considered in the valuation of the subject property. The Income Approach was considered but not applied as the subject is not considered as an investment property. Additionally, this approach does not reflect typical market behavior. The Sales Comparison Approach was utilized in the valuation of the subject. The Cost Approach has been considered but not developed as it does not typify market behavior. The Sales Comparison Approach is considered the most meaningful indicator of market value for single family properties, best reflects typical market behavior, and is given primary consideration in the valuation of the subject property. As of the date of this appraisal, Kenneth P. Lavertu, has completed the continuing education requirements of the State of Colorado. DESCRIPTION OF THE ASSIGNMENT Do not separate from the rest of the report! Any segregation of this multi -page report may jeopardize the user. Introduction 1. The client is the "lender/Client" named on the front page of the form report. This client is considered a sophisticated and knowledgeable user of the appraisal and report. 2. The intended user is the herein stated client, (who client represents), and the presiding judge. This appraisal may be inappropriate for other users and will put them in jeopardy. Therefore, this appraisal may not be used or relied on by anyone other than the stated intended user, regardless of the means of possession of the report, without the express written consent of the appraiser. The appraiser, appraisal firm, and related parties assume no obligation, liability, or accountability to any third party without such written consent. 3. The intended use is to provide information for property settlement. This appraisal and report may be inappropriate for other uses and jeopardize the user. This appraisal may not be used or relied on for any use except the stated use without the express written consent of the appraiser. The appraiser, appraiser's firm, and related parties assume no obligation, liability, or accountability for any other use without such written consent. 4. Primary Appraiser Generated Information (PAGI} is the information which the appraiser provides to the intended user that the user will isolate and consider. The appraiser has diagnosed the intended user's problem and will discuss the scope of work for the following PAGI later in this document: Main Value Opinion. 5. The type of value opinion formed in this appraisal is of Market Value at the highest & best use. See the definition and source, which is included later in this report. 6. Market Value is defined here as: The most probable price which a property should bring in a competitive and open market under conditions not requisite to a fair sale, the buyer acting prudently and knowledgeably, but the seller being highly motivated to sell. 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 is typically motivated, but the seller Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Supplemental Addendum File No. 1602264 Borrower N/A Property Address 3903 Eagles Nest Dr City Evans County Weld State co Zip Code 80620 Lender/Client N/A is acting under duress; (2) The buyer is well informed, and acting in what he considers his own best interests; (3) a reasonable time is not 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. Source: User defined 7. Privacy statement: In compliance with the Gram -Leach -Bliley Act, the appraiser will not provide any nonpublic personal information to any person or entity where that information will be used for solicitation purposes. This information may be shared among parties to process and service the consumer's transaction. 8. This is an Appraisal Report, which is intended to comply with the reporting requirements set forth under Standard Rule 2-2 (a) of USPAP for a real property appraisal report. Supporting documentation concerning the data, reasoning, and analyses is retained in the appraiser's work file. The information contained in the report is specific to the needs of the client and for the intended use stated in this report. Scope of Work 9. The subject property was identified to the appraiser by the client providing the property address and the current owner's name. A tax card and plat were pulled for that address via a third party provider. The property boundaries were pointed out to the appraiser by one of the following (current owner, purchaser, or sales agent). 10. The following approaches to value have been considered in the scope of work decision for the main "Value Opinion": 11. The Cost Approach was not performed. The Cost Approach was not performed because accrued depreciation can not accurately be measured. This approach might tend to indicate an unrealistic value. 12. The Direct Comparison Approach was performed. 13. The Income Approach was not performed. The Income Approach is not applicable, because the subject property would not typically be purchased as a rental investment. Most similar properties in the area are owner occupied. 14. Additional information concerning the scope of work is conveyed throughout the report. 15. Please be aware that the term "Inspection" may be used on some standard appraisal forms which the appraiser cannot modify. The term inspection found anywhere in this report is to mean a "Personal Visual Inventory" of the subject's or comparable property's components. This is opposed to a "Home Inspection", which investigates the appropriateness and soundness of various components of the improvements. 16. The American Disability Act (ADA) became effective January 26, 1992. The appraiser has not made a specific compliance survey or analysis of the property or comparables rables to determine whether or not they are in conformity with one or more of the requirements of the act. 17. At least one of the signees on the certification are competent in all aspects of this assignment. Extent of Research of the Subject Property 18. The Census Tract information for the subject property was obtained from a third party provider based on the property address via my appraisal software. The flood zone information for the subject property was obtained from a third party provider based on the property address via my appraisal software. The subject property's County Tax Assessor's information, via a third party source, was researched for past sales and physical characteristic information. The subject property's zoning was obtained from a zoning map and the accompanying zoning descriptions. This information was provided by the zoning authority. 19. The subject property data that was obtained from second-hand sources was validated by the appraiser personally accessing the subject property. In addition the owner was interviewed concerning past sales, utilities, and physical property characteristics. 20. I, Kenneth P Lavertu, did personally make a visual inventory of the subject property while walking over the land, through the interior, and around the exterior of the subject property. I am familiar with the subject neighborhood and the market area. I have worked in and around this area for a number of years. I did drive through parts of this neighborhood in conjunction with this assignment. 21. The subject property was measured in an attempt to assist the appraiser in developing an opinion concerning the specific Primary Appraiser Generated Information listed above. Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Supplemental Addendum File No. 1602264 Borrower N/A Property Address 3903 Eagles Nest Dr City Evans County Weld State CO Zip Code 80620 Lender/Client N/A Unless estimating the square footage was listed as a PAGI, the appraiser has only attempted to measure the property within an accuracy necessary to assist in the analysis of various market data. 22. Unless a professional home inspection, structural engineer study, or similar report was provided to the appraiser; the subject property information was obtained by a method of data gathering known as a "Personal Visual Inventory". This consists of the appraiser compiling notes of what components are there and how many of them there are. This personal visual inventory may be made on -site or from the curb, but not from photos or a video presentation. The extent of the subject property accessed was stated above. 23. The appraiser has not performed a "Home Inspection" which is a process utilized to rate the appropriateness and usability of the various components of the structure. This process involves inspecting and testing. Should you have concerns about these issues please seek a qualified professional to investigate these issues for you. The information obtained from a home inspection may affect the value of the subject property, so the appraisal should be made after the home inspection rather than visa versa. 24. Neither police records nor past issues of newspapers have been researched concerning the subject property's past use for anything that might effect the safety or health of present and future occupants. This includes but is not limited to the by-products of methamphetamine production, infectious disease, or environmental hazards. 25. If available in the normal course of business the appraiser has evaluated any previous sales within the past 3 years prior to the effective date of the appraisal, and current contract, listing, or option of the subject property for its applicability in forming an opinion of current market value and/or marketability. Hypothetical Conditions / Extraordinary Assumptions 26. There are no hypothetical conditions utilized in the forming the opinions and conclusions of the primary appraiser generated information. 27. There are no extraordinary assumptions utilized in the forming the opinions and conclusions of the primary appraiser generated information. Extent of the Analysis & Associated _ search 28. The following analysis and associated research have been performed in conjunction with the main opinion of value: 29. The Direct Sales Comparison was performed by an analysis in which the subject is compared to similar properties that have a recent marketing history. 30. An opinion of the value was formed by the Direct Comparison Approach. A qualitative analysis considering at least the size of the improvements, land size, date of sale and location were considered. 31. The comparable properties were obtained from the local MLS and/or Tax office. The tax data was supplied by a third party provider. The physical property characteristics, sales price, and date were not verified by any other source. However, the second hand data records were analyzed for errors and inconsistencies. The records with errors and discrepancies were not used. Records that showed a large discrepancy from the other data was not used. Previous Market Activity of the subject 32. No sales of the subject property were found in the 3 years proceeding the effective date of this appraisal in the normal course of business, which included a search of MLS and public records. 33. No current contract, listing, or option of the subject property were found in the normal course of business, which included a search of MLS records. Additional Information 34. The opinion of reasonable exposure time for the subject property is from 3-6 Months. 35. The use of the subject property at the effective date of this appraisal was as a single-family dwelling. Limiting Conditions 36. This appraisal and report were customized for a specific property, use, and user, at a specific time. Therefore, this appraisal and report are only reliable under the following limited conditions... Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Supplemental Addendum File No. 1602264 Borrower N/A Property Address 3903 Eagles Nest Dr City Evans County Weld State CO Zip Code 80620 Lender/Client N/A 37. ...that the appraiser is not required to give further consultation, testimony, or attend in court with reference to the property in question unless arrangements have been previously made. 38. ...possession of this report or a copy thereof does not carry with it the right of publication or distribution. Neither all nor any part of the contents of this report (especially any opinions and conclusions, the identity of the appraiser or the appraisal firm) shall be disseminated to the public or distributed to any individual or entity by any means without prior written permission of the appraiser. 39. ...when it is being used only for the herein stated intended use, by the herein stated intended user. 40. ...when it is used in a timely matter as the appraiser cannot be responsible for unforeseen market changes that occur after the value date. 41. ..when the distribution of the total valuation, if any, in this report between land and improvements is applied only under the reported highest and best use of the property. The allocation of value for land and improvements must not be used in conjunction with the subject property and other properties may result in an unreliable conclusion. 42. ...that it is understood any sketches and maps are presented only to assist the reader of the report in visualizing the property. 43. ...when the user has read and understands the report in its entirety. Any lack of understanding about this appraisal could result in its misuse, which might put the user in jeopardy. 44. ...secondary opinions and conclusions made by the appraiser are formed only to contribute to the Primary Appraiser Generated Information (PAGI). This is the information that the intended user will isolate and rely on. Unless specifically listed as a PAGI these secondary opinions include but are not limited to square footage calculations, effective age, highest and best use, replacement cost new, etc. Isolating and inappropriately using any of the secondary appraiser generated information out of context could jeopardize the user. General Assumptions 45. This assignment can not proceed without making some general assumptions. However, these assumptions should not be taken lightly or as a matter-of-fact. If any of these assumptions are found to be inaccurate, the opinions and conclusions reached herein could be in error, and jeopardize the user. The appraiser(s) are not competent in these fields, however, each of these assumptions can be explored by other experts and professions. The user should decide if these assumptions are acceptable. The appraiser is not competent in the following fields and makes no guarantees, express or implied, regarding the topics of these assumptions. Unless otherwise stated, described, and considered in this report it is assumed that: 46. ...the title to the property is good and marketable. No responsibility is assumed for the legal description provided or for matters pertaining to legal or title considerations. And, that the property is free and clear of any liens or encumbrances. 47. ...the property is under responsible ownership and competent management. 48. ...all engineering studies, land surveys, and other professional reports relied on by the appraiser are correct. Should such studies not be provided to the appraiser it is assumed that there are no hidden or unapparent conditions of the property, subsoil, structure, or any other property component that would render it more or less valuable. 49. ...the property is in full compliance with all applicable federal, state, and local laws and regulations. 50. ...the property conforms to all applicable zoning and use regulations and restrictions. 51. ...all required licenses, certificates of occupancy, consents, and other legislative or administrative authority from any state, or national government, or private entity or organization have been or can be obtained or renewed for any use on which the opinion of value is based. This includes the American Disabilities Act. 52. ...the use of the land and improvements is confined within the boundaries or property lines of the property described and that there is no encroachment or trespass. 53. ...there are no hazardous or toxic materials on, in, or near the property. The presence of substances such as, but not limited to, asbestos, urea formaldehyde foam insulation, radon, mold and other potentially hazardous or toxic materials would significantly affect the value opinion formed. The opinions and conclusions are predicated on the assumption that there is no such material on, in, or near the property that would cause a loss in value. 54. ...any proposed improvements are assumed to be completed in a good competent manner in accordance with the submitted plans and specifications. 55. ...the structure was properly designed and constructed. This means that each individual Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Supplemental Addendum File No. 1602264 Borrower N/A Property Address 3903 Eagles Nest Dr City Evans County Weld State CO Zip Code 80620 Lender/Client N/A building component is reliable and have been properly installed. There have been instances in this market where roof shingles, siding, plumbing, etc. have not performed satisfactorily. That no defects have occurred over time. This includes, but is not limited to termite damage. All mechanical components are assumed to be in operable condition and are appropriate for the structure. All electrical and plumbing equipment is appropriate and in working order. That the insulation is adequate. 56. ...the property has a plentiful supply of potable water, and that adequate sewage disposal is available. 57. ...if a survey was not provided to the appraiser the public records are correct with respect to size and shape. 58. ...the property has a legal and physical means of ingress and egress. 59. ...the subject property is legally and physically suitable for occupancy and livability. If vacant land, that the site is approved to sell and ready to be built on and occupied. 60. ...market forces remain relatively constant in the future. If an opinion of marketing time is formed the user should be cautious when relying on this opinion as the appraiser cannot foresee spastic changes in these forces. Additional Appraiser's Certification I CERTIFY THAT TO THE BEST OF MY KNOWLEDGE AND BELIEF EF THAT: 61. My analysis, opinions, and conclusions, were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice of the Appraisal Foundation. 62. I, Kenneth P Lavertu, did personally make a visual inventory of the subject property while walking over the land, through the interior, and around the exterior of the subject property. I am familiar with the subject neighborhood and the market area. I have worked in and around this area for a number of years. I did drive through parts of this neighborhood in conjunction with this assignment. 63. The statements of fact contained in this report are true and correct. 64. The credibility of the reported analysis, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, impartial, and unbiased professional analysis, opinions and conclusions. 65. I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. 66. My engagement in this assignment was not contingent upon the development or reporting predetermined results. 67. My compensation for completing this assignment is not contingent upon the development and reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. 68. To the best of my knowledge and belief I did not base, either partially or completely, the analysis and/or the opinion of value on race, color, religion, national origin, gender, marital status, familial status, age, receipt of public assistance income, handicap, or an unsupported conclusion that homogeneity of such characteristics is necessary to maximize value 69. I/we have no current or prospective interest in the subject property or parties involved. 70. Uwe have not performed any services regarding the subject property within the three year period immediately preceding acceptance of the assignment, as an appraiser or in any other capacity. 71. No one provided significant real property appraisal assistance to the person(s) signing this certification. 72. No fees were paid or received in the procurement of this assignment. 73. The reported analyses, opinions, and conclusions were developed, and this report has been prepared , in conformity with the requirements of the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute, which include the Uniform Standards of Professional Appraisal Practice. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. As of the date of this report, I Kenneth P Lavertu, have completed the continuing education program of the Appraisal institute. Kenneth Lavertu, SRA (CR40004811, exp.12/31/17) Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Supplemental Addendum File No. 1602264 Borrower N/A Property Address 3903 Eagles Nest Dr City Evans County Weld State co Zip Code 80620 Lender/Client N/A The date of this report is 3/7/2016. Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Building Sketch (Page - 1) Borrower N/A Property Address 3903 Eagles Nest Dr City Evans County Weld State Co Zip Code 80620 Lender/Client N/A 6 d - N TOTAL Sketch by a la mode, inc. Living Area First Floor Total Living Area (Rounded); Non -living Area Cvrd Porch 3 Car Attached i 16' Kitchen 3 Car Attached [$$$ Sq ft] 37' 21' Bath (half) Area Calculations Summary 748 Sq ft 748 Sq ft I 0 20' First Floor [748 Sq ft] NJ Living 6 17' Cvrd Porch [174 Sq ft] 23' Calculation Details r I N) Inn 0.5 x 2 x 2= 2 0.5x2x2 = 2 6 x 2 = 12 17x 14 = 238 13x38 = 494 174 Sq ft 6 x 6 = 36 6 x 23 = 138 888 Sq ft 24 x 37 = 888 Form SKT.BLBSKI - "TOTAL" appraisal software by a la mode, inc.-1-80D-ALAMODE Building Sketch (Page - 2) Borrower N/A Property Address 3903 Eagles Nest Dr City Evans County Weld State co Zip Code 80620 Lender/Client N/A 22' TOTAL Sketch by a la mode, inc. Living Area Second Floor Bath Bedroom Bath Second Floor [748 Sq ft] Bedroom Area Calculations Summary W Calculation Details 748 Sq ft 34 x 22 = 748 Total Living Area (Rounded): 748 Sq ft Form SKT.BLDSKI - "TOTAL" appraisal software by a la mode, inc.-1-B00-ALAMODE Building Sketch (Page - 3) Borrower N/A Property Address 3903 Eagles Nest Dr City Evans County Weld State Co Zip Code 80620 Lender/Client N/A Non -living Area Basement Area Calculations Summary Form SKT.BLDSKI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Subject Photo Page Borrower N/A Property Address 3903 Eagles Nest Dr City Evans County Weld State co Zip Code 80620 Lender/Client N/A Subject Front 3903 Eagles Nest Dr Sales Price Gross Living Area 1,496 Total Rooms 4 Total Bedrooms 2 Total Bathrooms 2..1 Location N;Res; View N;Res; Site 9,571 sf Quality Q4 Age 16 Subject Rear Subject Street Form PICPIX.SR - 'TOTAL" appraisal software by a la model ode, inc. - 1-800-ALAMODE Interior Photos Borrower N/A► Property Address 3903 Eagles Nest Dr City Evans County Weld State CO Zip Code 80620 Lender/Client N/A Form PICINT6 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Interior Photos Borrower N/A Property Address 3903 Eagles Nest Dr City Evans County Weld State CO Zip Code 80620 Lender/Client N/A Form PICINT6 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Location Map Borrower N/A Property Address 3903 Eagles Nest Dr City Evans County Weld State Co Zip Code 80620 Lender/Client N/A fa St r I. 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Way Priijifte ►`k w 3t areth Ir bye Pa 259 y ds 1' r H I _ 4 .t"ra Form WAP.LOC 'TOTAL" appraisal software by a la mode, inc. - 1 -800-ALAMDE File No. 1602264 UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM (Source: Fannie Mae UAD Appendix D: UAD Field -Specific Standardization Requirements) Condition Ratings and Definitions C1 The improvements have been very recently constructed and have not previously been occupied. The entire structure and all components are new and the dwelling features no physical depreciation.* *Note: Newly constructed improvements that feature recycled materials and/or components can be considered new dwellings provided that the dwelling is placed on a 100% new foundation and the recycled materials and the recycled components have been rehabilitated/re-manufactured into like -new condition. Recently constructed improvements that have not been previously occupied are not considered "new" if they have any significant physical depreciation (i.e., newly constructed dwellings that have been vacant for an extended period of time without adequate maintenance or upkeep). C2 The improvements feature no deferred maintenance,. little or no physical depreciation, and require no repairs. Virtually all building components are new or have been recently repaired, refinished, or rehabilitated. All outdated components and finishes have been updated and/or replaced with components that meet current standards. Dwellings in this category either are almost new or have been recently completely renovated and are similar in condition to new construction. C3 The improvements are well maintained and feature limited physical depreciation due to normal wear and tear. Some components, but not every major building component, may be updated or recently rehabilitated. The structure has been well maintained. C4 The improvements feature some minor deferred maintenance and physical deterioration due to normal wear and tear. The dwelling has been adequately maintained and requires only minimal repairs to building components/mechanical systems and cosmetic repairs. All major building components have been adequately maintained and are functionally adequate. C5 The improvements feature obvious deferred maintenance and are in need of some significant repairs. Some building components need repairs, rehabilitation, or updating. The functional utility and overall livability is somewhat diminished due to condition, but the dwelling remains useable and functional as a residence. C6 The improvements have substantial damage or deferred maintenance with deficiencies or defects that are severe enough to affect the safety, soundness, or structural integrity of the improvements. The improvements are in need of substantial repairs and rehabilitation, including many or most major components. Quality Ratings and Definitions Q1 Dwellings with this quality rating are usually unique structures that are individually designed by an architect for a specified user. Such residences typically are constructed from detailed architectural plans and specifications and feature an exceptionally high level of workmanship and exceptionally high-grade materials throughout the interior and exterior of the structure. The design features exceptionally high -quality exterior refinements and ornamentation, and exceptionally high -quality interior refinements. The workmanship, materials, and finishes throughout the dwelling are of exceptionally high quality. Q2 Dwellings with this quality rating are often custom designed for construction on an individual property owner's site. However, dwellings in this quality grade are also found in high -quality tract developments featuring residence constructed from individual plans or from highly modified or upgraded plans. The design features detailed, high quality exterior ornamentation, high -quality interior refinements, and detail. The workmanship, materials, and finishes throughout the dwelling are generally of high or very high quality. Q3 Dwellings with this quality rating are residences of higher quality built from individual or readily available designer plans in above -standard residential tract developments or on an individual property owner's site. The design includes significant exterior ornamentation and interiors that are well finished. The workmanship exceeds acceptable standards and many materials and finishes throughout the dwelling have been upgraded from "stock" standards. Q4 Dwellings with this quality rating meet or exceed the requirements of applicable building codes. Standard or modified standard building plans are utilized and the design includes adequate fenestration and some exterior ornamentation and interior refinements. Materials, workmanship, finish, and equipment are of stock or builder grade and may feature some upgrades. UAD Version 9/2011 Form UADDEFINE - "TOTAL" appraisal software by a la mode, inc. -1-800-ALAM►ODE UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM (Source: Fannie Mae UAD Appendix D: UAD Field -Specific Standardization Requirements) Quality Ratings and Definitions (continued) Q5 Dwellings with this quality rating feature economy of construction and basic functionality as main considerations. Such dwellings feature a plain design using readily available or basic floor plans featuring minimal fenestration and basic finishes with minimal exterior ornamentation and limited interior detail. These dwellings meet minimum building codes and are constructed with inexpensive, stock materials with limited refinements and upgrades. Dwellings with this quality rating are of basic quality and lower cost; some may not be suitable for year-round occupancy. Such dwellings are often built with simple plans or without plans, often utilizing the lowest quality building materials. Such dwellings are often built or expanded by persons who are professionally unskilled or possess only minimal construction skills. Electrical, plumbing, and other mechanical systems and equipment may be minimal or non-existent. Older dwellings may feature one or more substandard or non -conforming additions to the original structure Definitions of Not Updated, Updated, and Remodeled Not Updated Little or no updating or modernization. This description includes, but is not limited to, new homes. Residential properties of fifteen years of age or less often reflect an original condition with no updating, if no major components have been replaced or updated. Those over fifteen years of age are also considered not updated if the appliances, fixtures, and finishes are predominantly dated. An area that is 'Not Updated' may still be well maintained and fully functional, and this rating does not necessarily imply deferred maintenance or physical/functional deterioration. Updated The area of the home has been modified to meet current market expectations. These modifications are limited in terms of both scope and cost. An updated area of the home should have an improved look and feel, or functional utility. Changes that constitute updates include refurbishment and/or replacing components to meet existing market expectations. Updates do nut include significant alterations to the existing structure. Remodeled Significant finish and/or structural changes have been made that increase utility and appeal through complete replacement and/or expansion. A remodeled area reflects fundamental changes that include multiple alterations. These alterations may include some or all of the following: replacement of a major component (cabinet(s), bathtub, or bathroom tile), relocation of plumbing/gas fixtures/appliances, significant structural alterations (relocating walls, and/or the addition of) square footage). This would include a complete gutting and rebuild. Explanation of Bathroom Count Three-quarter baths are counted as a full bath in all cases. Quarter baths (baths that feature only a toilet) are not included in the bathroom count. The number of full and half baths is reported by separating the two values using a period, where the full bath count is represented to the left of the period and the half bath count is represented to the right of the period. Example: 3.2 indicates three full baths and two half baths. UAD Version 9/2011 Form UADDEFINE - "TOTAL" appraisal software by a la mode, inc. -1-800-ALAM►ODE UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM (Source: Fannie Mae UAD Appendix D: UAD Field -Specific Standardization Requirements) Abbreviations Used in Data Standardization Text Abbreviation Full Name Fields Where This Abbreviation May Appear ac Acres Area, Site Ad jerk Adjacent to Park Location AdjPwr Adjacent to Power Lines Location A Adverse Location & View ArmLth Arms Length Sale Sale or Financing Concessions ba Bathroom(s) Basement & Finished Rooms Below Grade br Bedroom Basement & Finished Rooms Below Grade B Beneficial Location & View Cash Cash Sale or Financing Concessions CtySky City View Skyline View View CtyStr City Street View View Comm Commercial Influence Location c Contracted Date Date of Sale/Time Cony Conventional Sale or Financing Concessions CrtOrd Court Ordered Sale Sale or Financing Concessions DOM Days On Market Data Sources e Expiration Date Date of Sale/Time Estate Estate Sale Sale or Financing Concessions FHA Federal Housing Authority Sale or Financing Concessions GlfCse Golf Course Location Glfvw Golf Course View View Ind Industrial Location & View in Interior Only Stairs Basement & Finished Rooms Below Grade Lndfl Landfill Location LtdSght Limited Sight View Listing Listing Sale or Financing Concessions Mtn Mountain View View N Neutral Location & View NonArm Non -Arms Length Sale Sale or Financing Concessions BsyRd Busy Road Location o Other Basement & Finished Rooms Below Grade Prk Park View View Pstrl Pastoral View View PwrLn Power Lines View PubTrn Public Transportation Location rr Recreational (Rec) Room Basement & Finished Rooms Below Grade Relo Relocation Sale Sale or Financing Concessions REO REO Sale Sale or Financing Concessions Res Residential Location & View RH USDA - Rural Housing Sale or Financing Concessions s Settlement Date _ Date of Sale/Time Short Short Sale Sale or Financing Concessions sf Square Feet Area, Site, Basement sqm Square Meters Area, Site Unk Unknown Date of Sale/Time VA Veterans Administration Sale or Financing Concessions w Withdrawn Date Date of Sale/Time wo Walk Out Basement Basement & Finished Rooms Below Grade wu Walk Up Basement Basement & Finished Rooms Below Grade WtrFr Water Frontage Location Wtr Water View View Woods Woods View View Other Appraiser -Defined Abbreviations Abbreviation Full Name Fields Where This Abbreviation May Appear UAD Version 9/2011 Form UADDEFINE - "TOTAL" appraisal software by a la mode, inc.-1-80D-ALAMODE License STATE OF COLORADO Department ti frig ep utiator y Ago!)6 es Division of Real Estate Active Cert Residential Appraiser 40004011 Jan 1 2015 Number Isue Date KENNETH P LA'Vt r U Vic, C0130504 Program Meririsitator P'.RI`P 1T ED ON SECURE PAPER Dec31 2017 Expires Form SCNLGL - "TOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE Hello