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Home My WebLink About20172205.tiffAugust 9, 2017 Petitioner: ARMSTRONG KENNY 3020 LAKESIDE DR EVANS, CO 80620-1108 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 2017, WELD COUNTY, COLORADO NOTICE OF DECISION Docket #: 2017-2205 Appeal #: 2008216781 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 2017. Account # Decision The Assessment and valuation is set as follows: Actual Value as Actual Value as Set by Determined by Assessor Board R3865986 Stipulated - Approved Stipulated Value $172,000 $165,000 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, az,(„,e �,<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 N ber R3865986 .s'.nee►a. f�.�l.a.ratestir�r�...��.r�s.ws�,ra.+�rrars ,rir a� s.vrs STIPULATION (As To Tax Year 2017_ Actual Value) RE PETITION OF NAME: Kenny Amistorng ADDRESS: 3020 Lakeside Dr Evans, CO 80620-1108 Petitioner (s) and the Weld County Assessor hereby enter into this Stipulation regarding the tax 'year 2017 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: EVS SV1-10 S5' L9 & ALL L 10 EXC S10' BLK 1 SUNNY VIEW RESUB 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 2017: Total $172,000.00 4. After farther review and negotiation, Petitioner (s) and Weld County Assessor agree to the following tax year 2017 actual value for the subject property: Total $165,000.00 5. The valuation, as established above, shall be binding only with respect to tax year 2017. 6. Brief narrative as to why the reduction was made: Owner supplied appraisal and we relooked at sale., grid supported the appraisal in our time frame of $165,000. 7. Both parties agree that: DThe hearing scheduled before the Board of Equalization on (Date) at (Time) be vacated. 1t3865986 A hearing has not yet been scheduled before the Board of Equalization. 1 DATED this 13 day of July, 2017. hers) or Ag w�ri : t r Attorney (Assistant) County Attorney Respondent, Well County Board of Commissioners Address: Telephone: Docket Number Stip-i.Frm R3865986 Address: 1150 "O" Street P.O. Box 758 Greeley, CO 80632 Tel lone;(970) 336-7235 County Ass - ssdr Address: 1400 N.17th Avenue Greeley, CO 80631 Telephone: (970) 353-3845 ext. 3697 2 From: To: Subject: Date: weld-cboe@weldgov.com CTB-County Board of Equalization Board of Equalization Appeal Submitted Monday, July 031 2017 3:28:29 PM Appeal Submitted: 03:28 PM on Monday July 3, 2017 Contact Information Supplied: • Contact Name: kenny armstrong • Contact Email: kennyrmstrng@gmail.com • Contact Phone: (970) 380 - 4838 • Email Preference: Don't contact through email Property: R3865986 - 3020 LAKESIDE DR , EVANS Legal: EVS SV1-10 S5 L9 & ALL L10 EXC S10 BLK1 SUNNY VIEW RE SUB Estimated Value: S 165.000 Reason: I had a appraisal done on my property 7/5/2016 and it was said to be worth only 165.000 not 180.000 or 172.000. So I have no idle where you guy are come up with your assessment or your value but I thank you all need to go and relook at this because it was not appraised at that. Documents 1.) Image (2)jpg 2.) Image (3).jpg 3.) Image (5).jpg 4.) Image (7)ijpg 5.) Image (9).jpg 6.) Image (10).jpg 7.) Image (11).jpg 8.) Image (12).jpg 9.) Image4.jpg 10.) Image (13).jpg 11.) Image (14).jpg 12.) Image (15).jpg You have selected the following Date Preferences: July 31, 2O17, , at 3:00 p.m. 4.30 p.m. July 27, 2017, at 2:30 p.m. 4:00 p.m. July 27, 2O17, at 10:30 a.m. - 12:OO p.m. July 26, 2017, a.t 3:00 p.m. - 4:30 p.m. COMPARABLE SALE #2 30019 LAKESIDE DRIVE EVANS, CC 80620 Sale Date: s05,/16;c04f16 Sale Price: $ 1:63,000 340a MONTROSE STREET EVANS, CD 80620 Sale Date: 504/16;c:O2/16 Sale Nice: $ 164,600 COMPARABLE SALE #1 3002 HIGH DRIVE EVANS. CO k3O624 Sale Date; sa5t16:0411 s Sale Price; $ 161.000 ark �CtSte 1 Comparable Sale 4 3628 CENTENNIAL CIRCLE EVANS, Co so 520 0:811 miles SW t�� 41$; St 42nd St f3r•d St 40th St riia�e U) Evan Comparable Sala 5 3516 PUEBLO STREET EVANS, CO 80520 0.71 miles SE t C s 3 42nd St w 41st Si 4206 Ell 43rd St e i Oti ��4 St Riverside Pkwy n sir Alf Map data CO016 Google NOTICE OF DETERMINATION Christopher M. Woodruff Weld County Assessor 1400 N 17th Ave Greeley, CO 80631 ACCOUNT NO, TAX YEAR TAX AREA LEGAL DESCRIPTION/ PHYSICAL LOCATION R3865986 2017 0650 EVS SV1-10 S5' L9 & ALL L10 EXC S10' BLK 1 SUNNY VIEW RESUB RECEIVED 3020 LAKESIDE DR EVANS , CO JUL 0 7 2017 WELD COUNTY COMMISSIONERS PROPERTY OWNER ARMSTRONG KENNY 3020 LAKESIDE DR EVANS, CO 80620-1108 PROPERTY CLASSIFICATION ASSESSOR'S VALUATION ACTUAL VALUE PRIOR TO REVIEW ACTUAL VALUE AFTER REVIEW RESIDENTIAL 180,069 172,000 TOTAL $180,069 $172,000 The Assessor has carefully studied all available information, giving particular attention to the specifics included on your protest. The Assessor's determination of value after review is based on the following: AL02 - The actual valuation of your property has been adjusted based on new information. This may be information you have supplied, corrections of characteristics or additional sales. If you disagree with the Assessor's decision, you have the right to appeal to the County Board of Equalization for further consideration, § 39-8-106(1)(a), C.R.S. The deadline for filing real property appeals is July 15. The Assessor establishes property values. The local taxing authorities (county, school district, city, fire protection, and other special districts) set mill levies. The mill levy requested by each taxing authority is based on a projected budget and the property tax revenue required to adequately fund the services it provides to its taxpayers. The local taxing authorities hold budget hearings in the fall. If you are concerned about mill levies, we recommend that you attend these budget hearings. Please refer to last year's tax bill or ask your Assessor for a listing of the local taxing authorities. Date of Notice: 6/30/2017 Telephone: (970) 400-3650 Fax: (970) 304-6433 Office Hours: 8:00AM — 5:00PM Please refer to the reverse side of this notice for additional information. Agent (If Applicable): 16-DPT-AR PR 207-08/13 R3865986 Email A dress APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 24th through August 4th at 1150 O Street. To appeal the Assessor's decision, complete the Petition to the County Board of Equalization shown below, and mail, file online, or deliver a copy of both sides of this form to: Weld County Board of Equalization 1150 O Street, P.O. Box 758 Greeley, CO 80631 Telephone: (970) 356-4000 ext, 4225 Online: http://www.co.weld.co.us/apps/cboe/ To preserve your appeal rights, your Petition to the County Board of Equalization must be postmarked or delivered on or before July 15 for real property — after such date, your right to appeal is lost. You may be required to prove that you filed a timely appeal; therefore, we recommend that all correspondence be mailed with proof of mailing. You will be notified of the date and time scheduled for your hearing. The County Board of Equalization must mail a written decision to you within five business days following the date of the decision. The County Board of Equalization must conclude hearings and render decisions by August 5, § 39-8-107(2), C.R.S. If you do not receive a decision from the County Board of Equalization and you wish to continue your appeal, you must file an appeal with the Board of Assessment Appeals by September 10, § 39-2-125(1)(e), C.R.S. If you are dissatisfied with the County Board of Equalization's decision and you wish to continue your appeal, you must appeal within 30 days of the date of the County Board's written decision to ONE of the following: Board of Assessment Appeals 1313 Sherman Street, Room 315 Denver, CO 80203 (303) 866-5880 www.dola.colorado.gov/baa Binding Arbitration For a list of arbitrators, contact the County Commissioners at the address listed for the County Board of Equalization. If the date for filing any report, schedule, claim, tax return, statement, remittance, or other document falls upon a Saturday, Sunday, or legal holiday, it shall be deemed to have been timely filed if filed on the next business day, § 39-1-120(3), C.R.S. District Court Contact the District Court in the County where the property is located. See your local telephone book for the address and telephone number. PETITION TO COUNTY BOARD OF EQUALIZATION What is your estimate of the property's value as of June 30, 2016? (Your opinion of value in terms of a sp f dollar amount is required for real property pursuant to § 39-8-106(1.5), C.R.S.) $ /b O1919 What is the basis for your estimate of value or your reason for requesting a review? (Please attach additional sheets as necessary and any supporting documentation, i.e., comparable sales, rent roll, original installe• cost, appraisal, etc.) TATI I, the undersigned owner or agent' of the property identified above, affirm that the statements contained herein an9n any attachments hereto are true and complete. Telephone Number 'Attach letter of authorization signed by property owner. Date 16-DPT-AR PR 207-08/13 R3865986 ALL AMERICAN APPRAISERS, LLC. 2217 75TH AVENUE, GREELEY, CO 80634 File No. CLL20163020 CENTENNIAL LENDING, LLC CENTENNIAL LENDING, LLC 4112 KODIAK COURT #D LONGMONT, CO 80504 File Number: CLL20163020 In accordance with your request, I have appraised the real property at: 3020 LAKESIDE DRIVE EVANS, CO 80620 The purpose of this appraisal is to develop an opinion of the market value of the subject property. as improved. The property rights appraised are the fee simple interest in the site and improvements. In my opinion, the market value of the property as of July5, 2016 is: $165,000 One Hundred Sixty -Five Thousand Dollars The attached report contains the description, analysis and supportive data for the conclusions, final opinion of value, descriptive photographs, limiting conditions and appropriate certifications. (z4.4e2.4„,, WILLIAM B DENNY, CREA V CERTIFIED RESIDENTIAL APPRAISER ALL AMERICAN APPRAISERS, LLC. 2217 75TH AVENUE, GREELEY, CO 80634 Fie No. CLL20163020 APPRAISAL OF LOCATED AT: 3020 LAKESIDE DRIVE EVANS, CO 80620 FOR: CENTENNIAL LENDING, LLC 4112 KODIAK COURT #D LONGMONT, CO 80504 BORROWER: KENNY ARMSTRONG AS OF: July 5, 2016 BY: WILLIAM B DENNY, CREA CERTIFIED RESIDENTIAL APPRAISER ALL AMERICAN APPRAISERS, LLC. Uniform Residential Appraisal Report Ole No. CLL20163020 FEATURE I SUBJECI COMPARABLE SALE NO. 4 COMPARABLE SALE NO.5 COMPARABLE SALE NO. ti 3020 LAKESIDE DRIVE Address EVANS, CO 80620 3628 CENTENNIAL CIRCLE EVANS, CO 80620 3616 PUEBLO STREET EVANS, CO 80620 2527 14TH AVENUE GREELEY, CO 80631 Proximity to Subject 0.81 miles SW 0.71 miles SE 0.76 miles NW Sale Price $ $ 233,000 $ 158,900 $ 179,900 Sale Rice/Gross try. Area $ 0.00 sq. tt. $ 18260 sq. ft. $ 135.35 sq. ft. $ 182.09 sq. ft. Data Source(s) IRESIS MLS #3430079;DOM 5 IRESIS MLS #780283;DOM 38 IRESIS MLS #793690;DOM 12 Verification Source(s) DOC #4201450 05/06/2016 DOC #4185636 03/04/2016 PENDING SALENISUAL OBSERVATION VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION d-ISAaluvlmni DESCRIPTION d-Is6gasarcm DESCRIPTION 'I-IsAdfusmtrnr Sale or Financing Concessions ArmLth FHA;5000 -5,000 ArmLth FHA;O Listing ;0 -10,000 Date of Sale/Time s05/16;c04/16 s03/16;cO2/16 c06/16 Location A;SLTrain; N;Res; -5,000 A;Train; 5,000 A;SLTrain; Leasehold/Fee Simple FEE SIMPLE FEE SIMPLE FEE SIMPLE FEE SIMPLE Site 7186 sf 7510 sf 0 7182 sf 0 7130 sf 0 View N;Res; B;CtySky; -7,500 N; Res; B;CtySky; -7,500 Design(Style) DT1;RANCH DT1;RANCH DT1;RANCH DT1;RANCH Quality of Construction 03 03 03 03 Actual Age 45 16 -2,900 43 0 61 1,600 Condition C3 C2 -10,000 C3 C3 -5,000 Above Grade Room Count Gross LnnngArea 35 Total Bents Batts Tool Berms noes 0 Toed Bears. Baths 0 Total Bairns Baths 0 5 2 1.0 6 3 1.1 -2,500 6 3 1.1 -2,500 6 3 1.0 0 936 sq.B. 1,276 sq.ft. -11,900 1,174 sq.B. -8,330 988 sq.B. 0 Basement & Finished Rooms Below Grade 936sf889sfin 1 rr2brl .Obaoo 1258sf1124sfin 1 rr1 brl .Obal0 0 0 Osf 4,680 4,000 988sf741 sfin 1 rr1 brl .0bal o 0 0 Functional Utility TYPICAL TYPICAL TYPICAL TYPICAL Heating/Goofing FAU/CAC FAU/CAC FAU/NONE 1,000 FAU/NONE 1,000 Energy Efficient Items INSULATED WINDOWS INSULATED WINDOWS INSULATED WINDOWS INSULATED WINDOWS Garage/Carport 1ga3dw 2ga3dw -5,000 tga3dw tga3dw Porch/Patio/Deck PORCH/ENCL PATIO PORCH/ENCL PATIO PORCH/ENCL PATIO PORCH/PATIO 5,000 ORIG LIST PRICE N/A $230,000 (101%) 0 $1',6"'0,000 (99%) 0 $179,900 (100%) 0 Net Adjustment (Total) ❑ « ®- $ 49.800 LhJ U - $ 3,850 U « ©- $ 14,900 o Adjusted Sale Price of Comparables Net Adj. -21.4% Gross Adj. 21.4% 1 183,200 Net Adj. 2.4% Gross Adj. 16.1 % $ 162,750 Nei Adj. -8.3% Gross Adj. 16.7% $ 165,000 < ITEM SUBJECT COMPARABLE SALE NO. 4 COMPARABLE SALE X0.5 COMPARABLE SALE N0.6 z Date of Prior Sale/Transfer 06/20/2007 05/11/2015 10/01/2014 09/24/2001 Price of Prior Sale/Transfer $127,900 $214,250 $124,500 $113,000 Data Source(s) NDC DATA 03484756 NDC DATA #4106135 NDC DATA #4050246 NDC DATA #2885705 Effective Date of Data Source(s) 07/05/2016 07/05/2016 07/05/2016 07/05/2016 Summary of Sales Comparison Approach J a Cr Fame Mae Form 1004 March 2005 Freddie Mac Form 70 March 2005 UAD Verstan 92011 Pvor000 taN AU rd ra ,,. eco.2712)l] uwuaae:xem 1004115UAD 12112015 COMPARABLE PROPERTY PHOTO ADDENDUM Borrower: KENNY ARMSTRONG File No.: CLL20163020 Property Address: 3020 LAKESIDE DRIVE Case No.: City: EVANS State: CO Zip: 80620 Lender: CENTENNIAL LENDING, LLC COMPARABLE SALE#1 3002 HIGH DRIVE EVANS, CO 80620 Sale Date: s05/16:c04/16 Sale Price: $ 161,000 COMPARABLE SALE #2 3009 LAKESIDE DRIVE EVANS, CO 80620 Sale Date: s05/16;c04/16 Sale Price: $ 163,000 COMPARABLE SALE#3 3403 MONTROSE STREET EVANS, CO 80620 Sale Date: s04/16,c02/16 Sale Price: $ 164,600 RABLE PROPERTY PHOTO ADDENDUM Borrower: KENNY ARMSTRONG File No.: CLL20163020 Property Address: 3020 LAKESIDE DRIVE Case No.: City: EVANS State: CO Zip: 80620 Lender: CENTENNIAL LENDING, LLC COMPARABLE SALE#4 3628 CENTENNIAL CIRCLE EVANS, CO 80620 Sale Date: s05/16;c04/16 Sale Price: $ 233,000 COMPARABLE SALE #5 3616 PUEBLO STREET EVANS, CO 80620 Sale Date: s03/16;c02/16 Sale Price: $ 156,900 COMPARABLE SALE#6 2527 14TH AVENUE GREELEY, CO 80631 Sale Date: co6116 Sale Price: $ 179,900 Bonier: KENNY ARMSTRONG Fie No.: cLL2o163020 Property Address:3020 LAKESIDE DRIVE Case No.: City EVANS State: Co Zip: 80620 Lender: CENTENNIAL LENDING, LLC GeneratlSrar General Star National Insurance Company ,.. _ .. P O Sox 10360 (Ann: (ESN) lStamford, Connecticut 06904 REAL ESTATE APPRAISERS ERRORS 8 OMISSIONS INSURANCE POLICY DECLARATIONS PAGE Th,a ts a c+son made and !pared policy Nerve mad thrs echef and a+l aneoraarnants and atrachm.nls carefully €aertx:y Numh sr. N.IA6365408 Renewal of Number. NJA936549A 1. NAMED INSURED William B. Danny STREET ADDRESS, 2145 Capper Way Fort Coeus, CO 80524 2 POLICY PERiOD Ina:ga n toe: 07122)2015 Eeparation Date: 07/27/2016 t tlactiwr 12 01 a m. Standard I ene at the address of are Named insured. 3 LIMITS OP LIABILITY Each CLet nr 51.000,000 Aggregate. 51,000,000 Claus Expenses haws a septsato texas of Liability. each Claim. 54.000,000 Aggregate 51.000 000 4 DEDUCTIBLE: Lace Clam SD Aggregate S0_ 5 RETROACTIVE DATE 024212011 Il n date of atdlrated. Met poky will not provide 80V5fage for any Claim arising out of any aO W. omission Of persona worry which married befer4 such d1sT, 8 ANNUAL PREMIUM 041 e RUI*A PtomaiT' nd inamaSrscMpTII $5.41 m 7 ENDORSEMENTS ': hoc pnscy is made and accepted 5u tecl to me wised policy um wgaeiar with the toaawirig tombs) e enstorsemenitm $'mmCr;4siu tirC 'Mt C%nIt nt, 440(1015 inn; an Pi AnnitCuaI4, Apr, $ .4,.o 4M A, CIAO moo a *Pr,,- 415:,,grinas Al'+1t, dalrf1 Nw1,1 al, t* '7,00'0 460 ti 6 PRODUCER NAME Meite' Ccnasumsa STREET ADDRESS P O. Box S146 Des Moans. IA 5030474146 1 Moe M e, tonzed Repesamahr t €'roducer Code. 26460 Cass Codes n176 Date 05 21P2015 AD 10 0001 0611 4 Capytgh9 2011 General Star Management Company, Stamford CI Page t of 1 Borrower: KENNY ARMSTRONG File No.: CLL20163020 Property Address: 3020 LAKESIDE DRIVE City: EVANS Lender: CENTENNIAL LENDING, LLC Case No.: State: co Zip: 80620 WILUAM B. DENNY 2217 75th Avenue. Graeiey CO 80634 billaallamencanapprarsers corn • Direct 970 556 9272 CERTIFIED REAL ESTATE APPRAISER Over 13 years of Real Estate Appraisal *eminence appraising Single Family Residences, Condominiums, FHA. and 2.4 Urals specializing m diffictre assignments. Professional having an adept sense for problem soling and customer attentiveness with a strong sense of urgency and being very detail oriented EXPERIENCE ALL AMERICAN APPRAISERS Fon Catkins. Colorado 2011 to Present OWNERICERTWIED REAL ESTATE APPRAISER Carmplies appraisals on Single Family Residences. Condominiums. FHA, and Multi -Family Dwellings 2.4 Undsi tax Banks, Broken and Management Companies Handles business administration responsibilities morticing drafting correspondence. invoicing functions fielding client inquiries, and filing documents including, but not *need to. court papers • Manages as aspects of the roe: estate appraisal process including Conventional Loans 2055 Drive -toys and 20551ntenorrEstanor Appraisals • Appraises Singly Farnily Reseences Condominiums FHA and Multi-Famsy Deeming* (24 Units) for a diverse client base ALLSTAR APPRAISERS Fort Cones Colorado 21)10 to Present CERTIFIED REAL ESTATE APPRAISER Complete apprassat on Singe Family Residences Condnmfnums FHA, end Multr•Farnly Dwellings 2.4 Unitti for Baths. Brokers and Management Companies • Manages as aspects of the real estate appraisal process incuding Conventional Loans 2055 Drive-bys and 2055 IntenorfEsterier Appraisals • Appraises Single Family Residences Condominiums. FHA. and Multi -Family Dwellings (2 4 Units} for a diverse client base WEST COAST APPRAISERS. .a re Forest Caiitorn a 1499 to 2008 OIMNER+LI CENSED REAL ESTATE APPRAISER Owner of a real estate appraisal company that interacts with high profile financial institutions concerning real estate transactions • Communicates daily wntn Banks Lenders Management Companies Homeowners Brokers and Real Estate Agents to coordinate the finai:zation of the L ansectton • Appraises residential homes for a diverse cent nose Saddleback Junior College Mission Viejo California A A , Communication Allied Business SUkkil. Lake Forest Cal loam Car tcete. Real Estate Apprta5a) 2000 ,998 LICENSES • CERTIFIED REAL ESTATE APPRAISER. COLORADO DEPARTMENT OF REGULATORY AGENCIES Denver, Colorado. Nit to Present Currently, am a Certified Real Estate Appraiser • LICENSED REAL. ESTATE APPRAISER COLORADO DEPARTMENT OF REGULATORY AGENCIES. Denver_ Colorado 2010 to 2013 • LICENSED REAL. ESTATE APPRAISER, OFFICE OF REAL ESTATE APPRAISERS. Sacramento. California 2003 to 2012 ALL AMERICAN APPRAISERS, LLC. Uniform Residential Appraisal Report File No. CLL20163020 There are 33 comparable properties currently uttered for sale m the subject neighborhood ranging in price hom S 130,000 to $ 240,000 There are 43 comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ 130,000 to $ 240,000 FEATURE SUBJECT COMPARABI F SAI F NO. 1 COMPARABI. F SAI F NO. 1 COMPARABLF SAI F NO.3 3020 LAKESIDE DRIVE Address EVANS, CO 80620 3002 HIGH DRIVE EVANS, CO 80620 3009 LAKESIDE DRIVE EVANS, CO 80620 3403 MONTROSE STREET EVANS, CO 80620 Proximity to Subject 0.14 miles NW 0.07 miles NW 0.83 miles SW Sale Price $ 5 161,000 S 163,000 S 164,600 Sale Price/Gross LN. Area S 0.00 sq. ft. $ 152.46 sq. ft. $ 167.18 sq. ft. S 190.51 sq. fl. Data Source(s) IRESIS MLS #787908;DOM 4 IRESIS MLS #788256;DOM 3 IRESIS MLS #783421;DOM 8 Verification Source(s) DOC #4202363 05/11/2016 DOC #4200514 05/03/2016 DOC #4195374 04/14/2016 VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION ,('IsAdp,slmem DESCRIPTION •(.IsAdj men1 DESCRIPTION -(-)tAgsm,eni Sale or Financing Concessions ArmLth Conv;0 ArmLth Conv;0 ArmLth FHA;3000 -3,000 Date of Sale/ Time s05/16;c04/16 505/16,c04/16 504/16;cO2/16 Location A;SLTrain; A;SLTrain; A;SLTrain; N;Res; -5,000 Leasehold/Fee Simple FEE SIMPLE FEE SIMPLE FEE SIMPLE FEE SIMPLE Site 7186 sf 10000 sf -2,814 7550 sf 0 6728 sf 0 View N;Res; N;Res; N;Res, N;Res; Design(Style) DT1;RANCH DT1;RANCH DT1;RANCH DT1;RANCH Quality of Construction 03 03 03 03 Actual Age 45 61 1,600 45 46 0 Condition C3 C3 C3 C3 Above Grade Room Count Gross Living Area 35 T ll rms Boss Tool [Oro , ftSin 0 Tniy NM, no Taal Pans 5 2 1.0 6 3 1.0 0 5 2 1.0 5 2 1.0 936 SCI B. 1,056 sq.ft. -4,200 975 sq ft 0 864 sq.1l. 0 Basement & Finished Rooms Below Grade 9365f889sfin 1rr2brl.0ba0o Osf 4,680 4,000 975sf975sfin 1rrtbrl.0balo 0 0 864sf764sfin OrrlbrO.Oba00 0 3,000 Functional Utility TYPICAL TYPICAL TYPICAL TYPICAL OHeating/Cooling FAU/CAC FAU/CAC HWBB/NONE 2,000 FAU/NONE 1,000 Energy Efficient Items INSULATED WINDOWS INSULATED WINDOWS INSULATED WINDOWS INSULATED WINDOWS Garage/Carport lga3dw 1ga3dw 2ga3dw -5,000 iga3dw z Porch/PatiolDeck PORCH/ENCL PATIO PORCH/PATIO 5,000 PORCH/PATIO 5,000 PORCH/PATIO 5,000 ORIG LIST PRICE N/A $152,500 (106%) 0 $165,000 (99%) 0 $166,500 (99%) 0 Net Adjustment (Total) L1 n ❑- S 8,266 ®- ❑ - S 2,000 ©i- 0- S 1,000 Adjusted Sale Price <_ of Corn mantes Net Adj, 5.1% Gross Adj. 13.8% S 169,266 Net Adj. 1.2% fios<.Adj. 7,4% S 165,000 Net Adj. 0.6% Gross Adj. 10.3% $ 165,600 I did ❑did not research the sale or transfer history of the subject properly and comparable sales. If not. explain THE SUBJECT PROPERTY HAS NOT TRANSFERRED IN THE PAST 36 MONTHS, PER IRESIS MLS, NDC DATA, AND IRESIS TAX RECORDS. -1 My research ❑did IRJ 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) IRESIS MLS/NDC DATA/IRESIS TAX RECORDS My research Udid ❑did not reveal any prior sales or transfers of the comparable sales for the year prior to the dale of sale of the comparable sale. Data source(s) IRESIS MLS/NDC DATA/IRESIS TAX 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 NO. 1 COMPARABLE SALE NO.2 COMPARABLE SALE NO. 3 Date of Prior SatefTransfer 06/20/2007 06/06/1983 05/27/2015 Price of Prior Sale/Transfer $127,900 $60,000 $0 Data Source(s) NDC DATA #3464756 NOG DATA NDC DATA #00010250 NDC DATA #4110313 Effective Date of Data Source(sl 07/05/2016 07/05/2016 07/05/2016 07/05/2016 Analysis of prior sale or transfer history of the subject property and comparable sales THE SUBJECT PROPERTY HAS NOT TRANSFERRED IN THE PAST 36 MONTHS, PER IRESIS MLS. NDC DATA, AND IRESIS TAX RECORDS. DUE TO THE INCREASE IN MARKET VALUES AND NEW CONSTRUCTION, THESE ARE THE REASONS FOR THE INCREASE IN THE SUBJECT PROPERTY'S MARKET VALUE. THE COMPARABLES HAVE NOT TRANSFERRED IN THE PAST 12 MONTHS. PER IRESIS MLS, NDC DATA, AND IRESIS TAX RECORDS. COMP #1 HAS NOT BEEN TRANSFERRED IN THE PAST 12 MONTHS, THERE WAS NO DATE OR PRICE OF PRIOR SALE AND. THEREFORE. LEFT BLANK. COMP #3 WAS TRANSFERRED ON 05/27/2015 FOR 50. THIS WAS A NAME TRANSFER. COMP #4 WAS TRANSFERRED ON 05/11/2015 AND RE -SOLD ON 05/)6/2016. Summary of Sales Comparison Approach. SEE ADDENDUM. Indicated Value by Sales Comparison Approach $ 165,000 Indicated Value by: Sales Comparison Approach $165,000 Cost Approach (if developed) S 165,500 Income Approach (if developed) S 0 SEE ADDENDUM. 2 O I his appraisal is made r' 35 15, U subject to completion pet plans and specifications un the basis of a hypothetical condition that the improvements have been completed, El subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or 0 subject to the following required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair: THIS APPRAISAL REPORT IS INTENDED FOR USE IN A MORTGAGE FINANCE TRANSACTION ONLY. THIS REPORT IS NOT INTENDED FOR ANY OTHER USE. Based on a complete visual inspection of the interior and exterior areas of the subject property, defined scope of work. statement of assumptions and limiting conditions, and appraiser's certification. my (our) opinion of the market value, as defined, of the real property that is the subject of this report is S 165,000 as of 07/05/2016 , which is the date of inspection and the effective date of this appraisal. Produced 05.50U wr Aware 500 275 81 21 w n.sa.-me.corn ,any 2d6 All American Appraisers araw I.Ue FOUT 1004 Hard, 2005 1004 08IIAd 1215201.: Freddie Mac Forth 70 March 2005 UAD Verson 9/2011 ALL AMERICAN APPRAISERS, LLC. File No. CLL20163020 Uniform Residential Appraisal Report CLARIFICATION OF INTENDED USE AND INTENDED USER: THE INTENDED USER OF THIS APPRAISAL REPORT IS THE LENDER/CLIENT. THE INTENDED USE IS TO EVALUATE THE PROPERTY THAT IS THE SUBJECT OF THIS APPRAISAL FOR A MORTGAGE FINANCE TRANSACTION, SUBJECT TO THE STATED SCOPE OF WORK, PURPOSE OF THE APPRAISAL REPORTING REQUIREMENTS OF THIS APPRAISAL REPORT FORM, AND DEFINITION OF MARKET VALUE. NO ADDITIONAL INTENDED USERS ARE IDENTIFIED BY THE APPRAISER. ELECTRONIC SIGNATURES: ALL ELECTRONIC SIGNATURES ON THIS REPORT HAVE A SECURITY FEATURE MAINTAINED BY INDIVIDUAL PASSWORDS FOR EACH SIGNING APPRAISER. NO PERSON CAN ALTER THE APPRAISAL WITHOUT THE EXCEPTION OF THE ORIGINAL SIGNING APPRAISER (S). CONDITION OF THE PROPERTY: THE APPRAISER IS NOT A HOME INSPECTOR. THIS REPORT SHOULD NOT BE RELIED UPON TO DISCLOSE ANY CONDITIONS PRESENT IN THE SUBJECT PROPERTY. THIS APPRAISAL DOES NOT GUARANTEE THAT THE PROPERTY IS FREE OF DEFECTS. A PROFESSIONAL HOME INSPECTION IS RECOMMENDED. 5 z THE APPRAISER, WILLIAM B. DENNY, HAS HAD NO CONTACT WITH THIS PROPERTY WITHIN 3 YEARS PRIOR TO THIS APPRAISAL. 0 O 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 THE AREA. DEPRECIATION IS BASED ON THE AGE AND CONDITION OF site value) THE LAND TO IMPROVEMENT RATIO IS TYPICAL FOR THE IMPROVEMENTS AND IS CALCULATED BY THE USE OF THE AGE/LIFE METHOD. THE COST APPROACH ESTIMATES ARE SUPPORTED BY THE MARSHALL & SWIFT COST HANDBOOK, LOCAL COST INDICATORS, CONTRACTORS. IA�ND ESTIMATED ` ,REPRODUCTION OR �( REPLACEMENT COST NEW OPINION OF SITE VALUE . = $ 25,000 Source of cost data BLUEBOOK APPR BASE Dwelling 936 Sq. Ft. @ $ 125.00 = $ 117,000 Quality rating from cost service BASIC Effective date of cost data 07/05/2016 Bsmt: 936 Sq. Ft. @ $ 65.00.. = S 60,840 Comments on Cost Approach (gross living area calculations, depreciation, etc.) ENCL PAT; FENCE 15,000 n THE COST APPROACH IS BASED ON MARSHALL & SWIFT GaragelCarport 288 Sq. FL r4 $ 40.00 - $ 11,520 INFORMATION. AFTER RESEARCHING THE SUBJECT PROPERTY Total Estimate elCost-New = $ 204,360 AND THE SURROUNDING NEIGHBORHOOD, THE HIGHEST AND BEST Less 80 Physical Functional External USE IS SINGLE FAMILY RESIDENTIAL. THERE IS EXTERNAL Depreciation $63,862 $10,000 = $ ( 73,862) OBSOLESCENCE FROM THE TRAIN TRACKS. VACANT LAND SALES Depreciated Cost of Improvements = $ 130,498 WERE RESEARCHED IN DEVELOPING THE OPINION OF SITE VALUE. "As -is" Value of Site Improvements . = $ 10,000 LAND TO IMPROVEMENT RATIO IS COMMON Estimated Remaining Economic Life (HUD and VA onlyl 55 Years INDICATED VALUE BY COST APPROACH = $ 165,500 INCOME APPROACH TO VALUE (not required by Fannie Mae) OEstimated Monthly Market Rent S 0 X Gross Real Multiplier 0 = $ 0 Indicated Value by Income Approach Summary of Income Approach (including support for market rent and GRM) THE INCOME APPROACH WAS NOT USED DUE TO THE SUBJECT PROPERTY AND .7.. THE IMMEDIATE AREA BEING PRIMARILY OWNER OCCUPIED. PROJECT INFORMATION FOR PUDs (if applicable) Is the develupeilbuilder in control of the HoreownersAssociation (HOA1? Q Yes ❑ No Unit type(s) ❑ Detached uAttached Provide the following information for PUDs ONLY if the developer/builder is in control of the I IDA arm the subject property is an attached dwelling unit. Legal name of project 2 Total number of phases Total number of units Total number of units sold .-"-Total number of units rented Total number of units for sale Data source(s) Was the project created by the conversion of an existin buildings) mto a PUD? Dyes 1 1 No If Yes, date or conversion. R- Does the project contain any multi -dwelling units? UYes LJNo Datasourcels z Are the units, common elements. and recreation facilities complete? ❑ Yes U No If Nu. describe the status of completion. 2. Are the common elements leased to or by the Homeowners' Association? ❑Yes ❑ No If Yes, describe the rental terms and option. Describe common elements and recreational facilities. Pmdisea usrq Acl mflmre, a70134 812, w+w.aa coua Page 3et6 Fredric Mac Form 70145959 2005 UAD Version 912011 ame Ylae norm 10MJ160AD 12152015 Borrower: KENNY ARMSTRONG File No.: cLL2o1s3o2o Property Address: 3020 LAKESIDE DRIVE Case No.: City: EVANS State: Co Zip: 80620 Lender: CENTENNIAL LENDING, LLC 0 IIIIIIII STATE OF COLORADO Department of Regulatory Agencies Division of Real Estate Acbve Cart Reawdenbat Appraset art�NT€o au SECURE PAPER 100032459 I Jan 12014 Dec 312016 Number ieeue Date f•Jcp,roe WILL:AM RaeNDON DENNY FORT GOWNS CO 80,524 y-•. f 7 Y . Pmpra.n ArYmq n�etiLame. 3grat,re FLOOD MAP Borrower: KENNY ARMSTRONG Property Address:3020 LAKESIDE DRIVE Case No.: City: EVANS Lender: CENTENNIAL LENDING, LLC File No.: CLL20183020 State: CO Zip: 80620 Ft tdt Data Flood Oats kritertf sd w a .et.uras»trs±++ ter; w M Was are niqund Stove 011119 MAW Andress City fakes at (warm Flood Zone X to SFHA No Ccor m t) EVANS. CRY OF Nano Perticurbon lamREGULAR Pt"M 08123C 'WE Nand.. Pinta Dire 7016-01.2C Conrnun;t, 01O1i? censw 6bsk L10123=0042000 • Page I of I https://www.nckdata.comisearchltlood_data.aspx?mmt2 74/20 1 t, LOCATION MAP Borrower: KENNY ARMSTRONG Property Address:3020 LAKESIDE DRIVE City: EVANS Lender: CENTENNIAL LENDING, LLC File No.: CLL20163020 Case No.: State: co Zip: 80620 tat WI r a' Comparable Sale 6 2527 14TH AVENUE GREELEY, CO 80631 0.76 miles NW U C yLA .i 25th St P liv e vw A 5 a 1 a 5 9 . D t. \> ,s n , ; fi cn m 28th Streetitt rid Comparable Sale 1 3002 HIGH DRIVE EVANS, CO 80620 0.14 miles NW 145 Street nu 2,' 32s1 Street Rd 3- r Comparable Sale 3 3403 MONTROSE STREET EVANS, CO 80620 0.83 miles SW MeN+tl St Chappelow ntary School h Ow Del Y11lan 1,Ind el A- t: R •a F C 11, Google 34th Si 35th St 7811{ `4 '79 45 SI CS University of Northern Colorado p D n v 27th St 3 s `m 21stSt 22nd St D S. 1� 23rd St 23rd St ' 24th St 2514t St Comparable Sale 2 3009 LAKESIDE DRIVE `6th ` EVANS, CO 80620 0.07 miles NW Garden Ci GI, 4;. • 9PQ 129th St 30th St tnut 33th Street Rd 7 Pleasant Acres Dr ,51st St a c y- 3 3 —c � R } "5th St m Comparable Sale 4 3628 CENTENNIAL CIRCLE EVANS, CO 80620 0.81 miles SW 41st St 42nd St 43ra St a m p 33rd St 34th 5t NP a 3 r y 3Gth St xt unseen 45th SI 3 '.h St to c r tVan S=, Comparable Sale 5 3616 PUEBLO STREET EVANS, CO 80620 0.71 miles SE 31st St a, ,Z. a t 42nd St 41st St 4206% Rd 43rd St ias 24th St 25th St 26th St r N 27th St 36th St 36th 52 ;t 40th St Subject 3020 LAKESIDE DRIVE EVANS, CO 80620 32nd St 33rd St R;verar3e Pkwy a S. 35th St LL 3 Map data 82'016 Goor}e FLOORPLAN SKETCH Borrower: KENNY ARMSTRONG File No.: CLL20163020 Property Address:3020 LAKESIDE DRIVE Case No.: City: EVANS State: CO Zip: 60820 Lender: CENTENNIAL LENDING, LLC SkNcry 2-tt r 't Enclosed Patio Area 3i r Shed 1 I 5 I 39R ^1 --� F N ( `1 39R Dining Room Kitchen Living Room Entry 39R Bath Bedroom Bedroom Unfinished Bath Bedroom Area Recreation Bedroom Room cs a =_=4 First Floor 39R Basement 146 First Floor 9381N Flat Floor 24ttX 3914 1.00- a 1.00 - 936 rN 036r ■ 1 Car Attached Basement Enclosed Patio Area OpenPerCh Shed 288 R' 939 M 274 ft. 181t° nit-- . 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