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<br />Supplemental Addendum
<br />File No.
<br />092096
<br />Borrower
<br />Anderson Chen
<br />Property Address
<br />1924 Water St NE
<br />CityCountyStateZip Code
<br />SalemMarionOR97301
<br />Lender/Client
<br />Academy Mortgage Corporation
<br />$10,000.
<br />Multiple comparables have net adjustments that exceed 15% and/or gross adjustments that exceed 25%. This is due to the
<br />large amount of adjustments required for location, functional utility, condition, site improvements, etc.
<br />Bedroom adjustments were made at $5,000 per bedroom. Bathroom adjustments were made at $5,000 per full bathroom.
<br />Garage adjustment were made at $5,000 per garage stall. Fireplaces were adjusted at $1,000.
<br />The subject, and the comparables are urban properties with surplus land which will physically allow site improvements such as
<br />sheds, parking, etc. The site improvements between the subject and each comparable vary. The appraiser made adjustments,
<br />individually, for each comparables site improvements after evaluating and contrasting the site improvements quality, condition,
<br />features and utility. These adjustments vary as site improvements vary.
<br />The above adjustments reflect the market reaction between the differences between the subject and each comparable.
<br />These comparables are considered to be the best comparable sales. All sales considered to be good market data. Sales #1,
<br />#2, #3 and #4 are reconciled and given the most weight. These comparables are most similar in physical characteristics and
<br />required the least net and gross adjustments. The additional comparables provide additional support.
<br />Note: All electronic signatures on this report have a security feature maintained by individual passwords for each signing
<br />appraiser. No person can alter the appraisal with the exception of the original signing appraiser.
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<br />An exterior and interior inspection of the subject property has been performed, unless otherwise stated in the appraisal report. A
<br />thorough inspection of the crawl space and attic area has not been performed. Unless otherwise stated in this report, the
<br />foundation and substructure are assumed to be in satisfactory condition, structurally sound, and free from termite damage. The
<br />plumbing, heating, electrical, appliances, water and sewage disposal systems are also assumed safe and adequate to serve the
<br />subject property. The appraiser is not a qualified structural inspector, pest and dry rot inspector or a qualified inspector of the
<br />other systems mentioned above. Therefore the client is urged to obtain an expert in these fields if desired.
<br />As of the date of this report, I, Scott D. Lepman, SRA, RM have completed the requirements under the continuing education
<br />program of the Appraisal Institute.
<br />This appraisal report has been prepared for the exclusive benefit of Academy Mortgage Corporation. This appraisal, or any
<br />portions of the report, may not be used by anyone other than the client, in any manner, without the preparer's written consent.
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<br />Note: This report is intended to be an Appraisal Report, containing all information necessary to enable the reader to
<br />understand the appraiser's opinion. Any third party studies referred to, such as pest, hazardous materials, or structural reports
<br />have been verified by the appraiser to the extend the assumptions and conclusions are used.
<br />Note: No value is extended to any personal property situated on site as of the date of inspection. This includes freestanding
<br />appliances, refrigerators, washers and dryers, sheds not on permanent foundations.
<br />Note: The appraiser has made reasonable effort to employ the three recognized approaches to value. As single family
<br />residences are less commonly purchased for investment purposes, the Income Approach will be used only if the residence is
<br />non-owner occupied, if the client requests it, or when sufficient market evidence exists in a neighborhood to indicate that rental
<br />properties or investor purchases are typical, measurable, and the analysis of the data adds value to the appraisal process.
<br />If the Income approach is not used, it is considered to be less indicative and reliable than the Cost or Market Approach.
<br />Flood Zone Information: The flood zone information for the subject, contained in this report, was obtained from third party,
<br />public records including but not limited to our appraisal software provider Alamode and CoreLogic. The appraiser has made the
<br />extraordinary assumption that the information relied upon and provided by these third parties regarding any flood hazard
<br />conditions on or near the property is correct.
<br />Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
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