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<br />Valuation Section
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<br />UNIFORM RESIDENTIAL APPRAISAL REPORT
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<br />File No 20103427
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<br /> ESTIMATED SITE VALUE .. ... . . " $ 66 250 Commants on Cost Approach (such as, sourca of cost astimata,
<br /> ESTIMATED REPRODUCTION COST. NEW OF IMPROVEMENTS: sita value, square foot calculation and for HUD, VA and FmHA, tha
<br /> Dwelling 1,944 Sq. FL @ $ 85.00 " $ 165,240 eslimaled remaining economic lifa of tha properly):
<br /> No Bsm!. Fin Sq.Ft. @$_ = 0 Cost estimates were derived from construction
<br />0 See Additional Features = 20,000 contracts, buildinq contractors, office files, and the
<br /> GaragelCa-port ~ Sq. FL @$ 25.00 = 14,400 Marshall Swift Cost Service. The site value as
<br /> Tolal Estimated Cost New ... = $ 199,640 vacant is based on market trends. Phvsical
<br /> Lass Physical I Fu.n~lio'n~I.I. External Deoreciation reflects ohvsical wear and is based on
<br />0 Q<>precialion = $ 0 aoe/life method with a total economic life of 100
<br /> Depreciatad Valua of Improvements . ,... = $ 199,640 I vears. If new construction Phvsical Deoreciation
<br /> "As-is" Value of Sile Improvements. .... = $ o does not apply.
<br /> INDICATED VALUE BY COST APPROACH. ... . . .. - $ 265 900
<br /> ITEM I SUBJECT GOMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
<br /> 2018 Hamline Avenue 1751 Malvem Street 2778 Dale Street North 1001 Burke Avenue West
<br /> Address Roseville Lauderdale Lauderdale Roseville
<br /> Proximilv to Sub'ect 2.3 Miles West 2.15 Miles Northeast .9 Mile East
<br /> Sales Price $ N/A $ 21<; $ $ 292 000
<br /> Price/Gross L". Area $ 0.00 IZJ $ 133.37 IZJ $ 144.00 It! $ 143.42 ItJ
<br /> Data andlor Insp/Plans MLS/County MLS/County MLS/County
<br /> Verification Sources County 24 Days on Market 30 Days on Market 12 Days on Market
<br /> VALUE ADJUSTI.tNTS """'""'" f ""'"''''' I t{-) $ Adjustmenl DESCRIPTION I . (-) $ Adju,tmoot DESCRiPTION I +(-)$Adjus1rJ1ent
<br /> Sales or Financing N/A: Conv/O pts -0- Conv/O pts -0- Cony/O Points -0-
<br /> Concessions N/A:.,,,,, Bv Seller -0- Bv Seller -0- Bv Seller -0-
<br /> Dala of Salemma If)sP 3/13/02 Clsd 4/25/01 : -0- Clsd11/30/01 : -0- Clsd 8/6/01 : -0-
<br /> Location Suburban Infer Neiqh. +15,000 Equal Neiqh. -0- Eaual Neioh. -0-
<br /> Leasetdc!<fee SiTde Fee Simple Fee Simple : -0- Fee Simple : -0- Fee Simple : -0-
<br /> Site 15544 SF 5072 SF : +5,000 11375 SF : -0- 13870 SF : -0-
<br /> View ResidfTraffic Residential , -2 000 ResidfTraffic -0- Residential -2.000
<br /> Desion and AODeal 2 Storv/Good 2 Storv/Good : -0- 2 Storv/Good -0- 2 Storv/Good : -0-
<br /> I QuaIty of CalsIructi:<1 Good Quality Eaual Quality : -0- Eoual Qualitv : -0- Suner Qualitv : -10,000
<br /> AQe New New -0- New -0- 5 Years +2,000
<br /> Condition Good Cond. Equal Condo : -0- Equal Condo : -0- Infer Cond. +2,000
<br /> Above Grade Total' Bdrms I 8alh~ Tob.1 J Bdrm~ I B.ln~ : -0- TolaJ I Bdrms I Ba'ths : -0- To-Iall Bdrm3 ! Baths. : -0-
<br /> Room Count 7: 4: 2.50 6: 3: 2.50 ' ------- 6: 3: 2.50' ------- 8: 4: 2.50- -------
<br /> Gross Livino Area 1 944 SoH 1 612 5a.Ft. : +8,300 1,875 SoH : +1,700 2 036 SnH : -2.300
<br /> Basement & Finished Full Full , -0- Full/WO -3,000 Full -0-
<br />0
<br /> Rooms Below Grade Unfinished 600 SF Fin -6,000 Unfinished -0- Unfinished -0-
<br /> Functianal Utilitv Averaae Utility Equal Utility : -0- Equal Utility : -0- Enual Utilitv : -0-
<br /> Heating/Gaoling GFA/No CA GFA/CA : -2,000 GFA/CA : -2,000 GFA/CA : -2 000
<br />. Ener<iY Eflident Items Good 2 X 6 Good 2 X 6 -0- Good 2 X 6 -0- Good 2 X 6 -0-
<br /> GaraqelCarport 2 Car Att Gar No Garaoe : +10,000 3 Car Att Gar : -3 000 3 Car At! Gar : -3,000
<br /> Porch, Palio, Deck, None Open Porch -3,000 Open Porch -3,000 Deck -2,000
<br /> FireDlace(s), etc. None None -Q- 1 Fireplace -3000 1 Fireolace -3,000
<br /> Fence, Pool, etc. None None : -0- None , -0- None : -0-
<br /> Other None None : -0- HWF /WH P : -7 000 HWF : -5 000
<br /> NetAdj(lotal) ~$ 25'300~$ 19,300 ~$ 25 300
<br /> Adjusled Salas Prica . 4"1< G
<br /> of Comparable ..' '2"1< $ 240,300 $ 250 700 $ 266,700
<br /> Camments on Sales Comparisan (including the subject properly's compatibility to the neighborhood, etc): Como #3 is most similar to the subiect
<br /> due to it beina a four bedroom dwellinq. This como was aiven the most weiaht in determinino market value. All three
<br /> comparables chosen have meaninqful attributes and a blended value conclusion was utilized. Gross livina area
<br /> adiustments were made usinq $25 per square foot. Basement finishinQ is adiusted at $10 oer sauare foot. See
<br /> Glttached for Sales Comparison comments.
<br /> iTEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
<br /> Dale, Price and Data N/A See Comp Sales Grid See Comp Sales Grid See Comp Sales Grid
<br /> Source fa- p'icr sales N/A
<br /> ",thin vear of aooraisal N/A MLS/Countv Records MLS/County Records MLS/County Records
<br /> Analysis of any current agreement 01 sate, optian, or listing af the subject property end analysis of any p'icr sales af subiect and comparables v.ithin ana year 01 the date of apIXaisal:
<br /> The subject has not been listed or re-sold in the past vear.
<br /> INDICATED VALUE BY SALES COMPARISON APPROACH. . . . . . . . , . . . ... .... ,.. ,....,., ,.., ... ,..,., ....." . . $ 265,000
<br /> INDICATEO VALUE BY iNCOME APPROACHllf ADolicable) Estimated Market Rent $ N/A /Mo. x Gross Renl Mulliolier N/A = $ 0
<br /> This appraisal is made o "as is" [KJ subject to the repa.., alterations, inspections cr conditions listed below O' subject to completion per plans and spedlications.
<br /> Conditions of Apprai,al: This aDPraisal is beina made "subject to comoletion" This is a "Summarv Aonraisal Reoort", No
<br /> liability is assumed for the structural or mechanical elements of the oronertv.
<br /> Final Reconciliation: Indicated value bv sales comparison: $265,QOO; bv cost annroach: $265,90OTrounded1. The sales
<br /> comparison best reflects the actions of the typical buyer. The cost approach offers additional SUDDort. The income
<br />. approach was considered but not used due to limited market data.
<br /> The purpose of this apprai,al is to estimate the market value of Ihe reaf properly that is the subjecl af this reporl, ba,ed on the abave conditions and the ca1ification, contingent
<br /> and limiting conditions, and market value definition that are stated in the altamed Freddie Mac Farm 439JFannie Mae Farm 1004B (Re<ised 6/93 ).
<br /> I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OFTHE REAL PROPERTY THAT IS THE SUBJECTOFTIiIS REPORT, AS OF 3/13/2002
<br />0 (WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT} TO BE $ 265,000
<br /> APPRAI,S';;; -4 .7:- SUPERVfSOR~E?,,~~
<br /> Signature , Sianeture ~ ODid IZJDid Nal
<br /> Name Michael Annum:iata!f{eqistered Real Prop Name John cAforsythe. SM, C~ GTnerel Real PlOp Inspecl Property
<br /> Dale Report SiQned 03/19/2002 Dala Reoort Sianed 03/19/2002
<br /> Slate Cerlification # Stata MN State Cerlification # 4000753 Slate MN
<br /> Or State License # 20222622 Stale MN Or Slate License # Slate
<br />FrsddieMacform70 6
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<br />Pt<)4tJ(;vd u~11I? Pc/.aroid Olgrlal Sl)/v\JQn, rortware-, (jOO.2:;4,BrUWIfW,poIaroldb'msrom
<br />Forsythe Appraisals, Inc.
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<br />FannjllM1iaFCfm 1004 6.93
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