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ADDENDUM Borrower: NIA Property Address' 201 B Hamline Avenue City: Roseville Lender: Greater Metropolitan Housing Corp File No.: 20103427 Case No.: State: MN Zip: 55113 have completed the requirements under the continuing education program of the Appraisal Institute. I certify that the use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. This appraisal report is a "Summary Appraisal Report". It conforms to the 2002 Uniform Standards of Professional Appraisal Practice. No responsibility has been assumed for matters which are legal in nature, nor has any opinion on them been rendered, other than assuming marketable tille. Liens and encumbrances, if any, have been disregarded and the property was appraised as though free of indebtedness. Please feel free to call us if you have a question. ADDITIONAL COMMENTS 1. The purpose of the appraisal is to estimate the market value of the subject property. 2. The legal description of the subject property is Lots 16, 17 & 18, Block 10, Midway Hills Rearrangement of Como Garden. 3. The reasonable marketing period for the subject property is 1 to 90 days. 4. According to the county and the homeowner, the subject property has not been transferred in the past 12 months. 5. The subject property was inspected on March 13, 2002. The report was prepared on March 13, 2002. The effective date of the appraisal is March 13, 2002. These dates coincide. 6. The subject is new construction. At the time of inspection, the construction was 80% finished. For purposes of this appraisal, the "as is" value is considered to be site value of $66,250. The value upon completion per plans and specifications is $265,000. The subject was appraised using plans and specs. It will be personally inspected both inside and out, at the time the Satisfactory Completion Certificate is prepared. 7. Personal property was not included in the appraised value. 8. We have considered a[1 three approaches to value. The income approach was not utilized due to lack of reliable rental data of single family homes in this neighborhood. 9. The subject is a single family residential property. It is not currently rented. Revenues, expenses, and/or vacancies do not apply. 10. Current and future employment or compensation is not contingent upon the reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value estimate, the attainment of a stipulated result or the occurrence of a subsequent event. 11. This appraisal report was completed in conformity with the Uniform Standards of Professional Appraisal Practice. 12. If the photos included in this appraisal are digital/electronic images, they have not been enlarged, enhanced, or altered in any way. 13. If electronic/digital signatures are used, it has been ruled acceptable appraisal practice by USPAP. 14. The appraiser certifies that this appraisal includes an electronic/digital signature that is maintained and controlled by the appraiser through Forsythe Appraisals, Inc. The appraiser has given authorization to apply the digital signature to this report. 15. Confidentiality and Security Policy - in compliance with the Gramm-Leach-Bllley Act. We consider privacy to be fundamental to our relationship with clients. We are committed to Addendum Page 2 of 3