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5820172
<br />Uniform Residential Appraisal Report
<br />File #092096
<br />APPRAISER'S CERTIFICATION:
<br />TheAppraisercertifiesandagreesthat:
<br />1.Ihave,ataminimum,developedandreportedthisappraisalinaccordancewiththescopeofworkrequirementsstatedin
<br />thisappraisalreport.
<br />2.Iperformedacompletevisualinspectionoftheinteriorandexteriorareasofthesubjectproperty.Ireportedthecondition
<br />oftheimprovementsinfactual,specificterms.Iidentifiedandreportedthephysicaldeficienciesthatcouldaffectthe
<br />livability,soundness,orstructuralintegrityoftheproperty.
<br />3.IperformedthisappraisalinaccordancewiththerequirementsoftheUniformStandardsofProfessionalAppraisal
<br />PracticethatwereadoptedandpromulgatedbytheAppraisalStandardsBoardofTheAppraisalFoundationandthatwerein
<br />placeatthetimethisappraisalreportwasprepared.
<br />4.Idevelopedmyopinionofthemarketvalueoftherealpropertythatisthesubjectofthisreportbasedonthesales
<br />comparisonapproachtovalue.Ihaveadequatecomparablemarketdatatodevelopareliablesalescomparisonapproach
<br />forthisappraisalassignment.IfurthercertifythatIconsideredthecostandincomeapproachestovaluebutdidnotdevelop
<br />them,unlessotherwiseindicatedinthisreport.
<br />5.Iresearched,verified,analyzed,andreportedonanycurrentagreementforsaleforthesubjectproperty,anyofferingfor
<br />saleofthesubjectpropertyinthetwelvemonthspriortotheeffectivedateofthisappraisal,andthepriorsalesofthesubject
<br />propertyforaminimumofthreeyearspriortotheeffectivedateofthisappraisal,unlessotherwiseindicatedinthisreport.
<br />6.Iresearched,verified,analyzed,andreportedonthepriorsalesofthecomparablesalesforaminimumofoneyearprior
<br />tothedateofsaleofthecomparablesale,unlessotherwiseindicatedinthisreport.
<br />7.Iselectedandusedcomparablesalesthatarelocationally,physically,andfunctionallythemostsimilartothesubjectproperty.
<br />8.Ihavenotusedcomparablesalesthatweretheresultofcombiningalandsalewiththecontractpurchasepriceofahomethat
<br />hasbeenbuiltorwillbebuiltontheland.
<br />9.Ihavereportedadjustmentstothecomparablesalesthatreflectthemarket'sreactiontothedifferencesbetweenthesubject
<br />propertyandthecomparablesales.
<br />10.Iverified,fromadisinterestedsource,allinformationinthisreportthatwasprovidedbypartieswhohaveafinancialinterestin
<br />thesaleorfinancingofthesubjectproperty.
<br />11.Ihaveknowledgeandexperienceinappraisingthistypeofpropertyinthismarketarea.
<br />12.Iamawareof,andhaveaccessto,thenecessaryandappropriatepublicandprivatedatasources,suchasmultiplelisting
<br />services,taxassessmentrecords,publiclandrecordsandothersuchdatasourcesfortheareainwhichthepropertyislocated.
<br />13.Iobtainedtheinformation,estimates,andopinionsfurnishedbyotherpartiesandexpressedinthisappraisalreportfrom
<br />reliablesourcesthatIbelievetobetrueandcorrect.
<br />14.Ihavetakenintoconsiderationthefactorsthathaveanimpactonvaluewithrespecttothesubjectneighborhood,subject
<br />property,andtheproximityofthesubjectpropertytoadverseinfluencesinthedevelopmentofmyopinionofmarketvalue.I
<br />havenotedinthisappraisalreportanyadverseconditions(suchas,butnotlimitedto,neededrepairs,deterioration,the
<br />presenceofhazardouswastes,toxicsubstances,adverseenvironmentalconditions,etc.)observedduringtheinspectionofthe
<br />subjectpropertyorthatIbecameawareofduringtheresearchinvolvedinperformingthisappraisal.Ihaveconsideredthese
<br />adverseconditionsinmyanalysisofthepropertyvalue,andhavereportedontheeffectoftheconditionsonthevalueand
<br />marketabilityofthesubjectproperty.
<br />15.Ihavenotknowinglywithheldanysignificantinformationfromthisappraisalreportand,tothebestofmyknowledge,all
<br />statementsandinformationinthisappraisalreportaretrueandcorrect.
<br />16.Istatedinthisappraisalreportmyownpersonal,unbiased,andprofessionalanalysis,opinions,andconclusions,which
<br />aresubjectonlytotheassumptionsandlimitingconditionsinthisappraisalreport.
<br />17.Ihavenopresentorprospectiveinterestinthepropertythatisthesubjectofthisreport,andIhavenopresentor
<br />prospectivepersonalinterestorbiaswithrespecttotheparticipantsinthetransaction.Ididnotbase,eitherpartiallyor
<br />completely,myanalysisand/oropinionofmarketvalueinthisappraisalreportontherace,color,religion,sex,age,marital
<br />status,handicap,familialstatus,ornationaloriginofeithertheprospectiveownersoroccupantsofthesubjectpropertyorofthe
<br />presentownersoroccupantsofthepropertiesinthevicinityofthesubjectpropertyoronanyotherbasisprohibitedbylaw.
<br />18.Myemploymentand/orcompensationforperformingthisappraisaloranyfutureoranticipatedappraisalswasnot
<br />conditionedonanyagreementorunderstanding,writtenorotherwise,thatIwouldreport(orpresentanalysissupporting)a
<br />predeterminedspecificvalue,apredeterminedminimumvalue,arangeordirectioninvalue,avaluethatfavorsthecauseof
<br />anyparty,ortheattainmentofaspecificresultoroccurrenceofaspecificsubsequentevent(suchasapprovalofapending
<br />mortgageloanapplication).
<br />19.Ipersonallypreparedallconclusionsandopinionsabouttherealestatethatweresetforthinthisappraisalreport.IfI
<br />reliedonsignificantrealpropertyappraisalassistancefromanyindividualorindividualsintheperformanceofthisappraisal
<br />orthepreparationofthisappraisalreport,Ihavenamedsuchindividual(s)anddisclosedthespecifictasksperformedinthis
<br />appraisalreport.Icertifythatanyindividualsonamedisqualifiedtoperformthetasks.Ihavenotauthorizedanyonetomake
<br />achangetoanyiteminthisappraisalreport;therefore,anychangemadetothisappraisalisunauthorizedandIwilltakeno
<br />responsibilityforit.
<br />20.Iidentifiedthelender/clientinthisappraisalreportwhoistheindividual,organization,oragentfortheorganizationthat
<br />orderedandwillreceivethisappraisalreport.
<br />Freddie Mac Form 70 March 2005UAD Version 9/2011Page 5 of 6Fannie Mae Form 1004 March 2005
<br />Form 1004UAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
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