diligent appraisal services p.o. box 2612 yelm, wa 98597 lemuria ln 2016.pdf · diligent appraisal...

RE:

File No.Case No.

Dear

In accordance with your request, I have personally inspected and prepared an appraisal report of the realproperty located at:

The purpose of this appraisal is to estimate the market value of the property described in the body of thisappraisal report.

Enclosed, please find the appraisal report which describes certain data gathered during our investigationof the property. The methods of approach and reasoning in the valuation of the various physical andeconomic factors of the subject property are contained in this report.

An inspection of the property and a study of pertinent factors, including valuation trends and an analysis ofneighborhood data, led the appraiser to the conclusion that the market value, as ofis:

$

The opinion of value expressed in this report is contingent upon the limiting conditions attached to thisreport.

It has been a pleasure to assist you. If I may be of further service to you in the future, please let me know.

Respectfully submitted,

Signature:

Diligent Appraisal ServicesP.O. Box 2612Yelm, WA 98597ph: 253-227-2830

06/14/2016

Fernandez, Rene

Fernandez, Rene16122 Lemuria Ln SEYelm, WA 98597-793410580fernandez

Client

16122 Lemuria Ln SE, Yelm, WA 98597-7934

03/31/2016

715,000

Danette H Dean-Scott, CREA

APPRAISAL REPORT OF

AS OF

PREPARED FOR

PREPARED BY

Fernandez, Rene

16122 Lemuria Ln SE

Yelm, WA 98597-7934

03/31/2016

Fernandez, Rene

Danette H Dean-Scott, CREADiligent Appraisal Services

P.O. Box 2612Yelm, WA 98597

UAD Version 9/2011 Produced by ClickFORMS Software 800-622-8727

File No.

Uniform Residential Appraisal ReportThe purpose of this appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property.Property Address City State Zip CodeBorrower Owner of Public Record CountyLegal DescriptionAssessor's Parcel # Tax Year R.E. Taxes $Neighborhood Name Map Reference Census TractOccupant Owner Tenant Vacant Special Assessments $ PUD HOA $ per year per monthProperty Rights Appraised Fee Simple Leasehold Other (describe)Assignment Type Purchase Transaction Refinance Transaction Other (describe)Lender/Client AddressIs the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal? Yes NoReport data source(s) used, offerings price(s), and date(s).

SUB

JEC

T

I did did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was notperformed.

Contract Price $ Date of Contract Is the property seller the owner of public record? Yes No Data Source(s)Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower? Yes NoIf Yes, report the total dollar amount and describe the items to be paid.C

ON

TRA

CT

Note: Race and the racial composition of the neighborhood are not appraisal factors.Neighborhood Characteristics One-Unit Housing Trends One-Unit Housing Present Land Use %

Location Urban Suburban Rural Property Values Increasing Stable Declining PRICE AGE One-Unit %Built-Up Over 75% 25-75% Under 25% Demand/Supply Shortage In Balance Over Supply $ (000) (yrs) 2-4 Unit %Growth Rapid Stable Slow Marketing Time Under 3 mths 3-6 mths Over 6 mths Low Multi-Family %Neighborhood Boundaries High Commercial %

Pred. Other %Neighborhood Description

Market Conditions (including support for the above conclusions)

NEI

GH

BO

RH

OO

D

Dimensions Area Shape ViewSpecific Zoning Classification Zoning DescriptionZoning Compliance Legal Legal Nonconforming (Grandfathered Use) No Zoning Illegal (describe)Is the highest and best use of subject property as improved (or as proposed per plans and specifications) the present use? Yes No If No, describe.

Utilities Public Other (describe) Public Other (describe) Off-site Improvements--Type Public PrivateElectricity Water StreetGas Sanitary Sewer AlleyFEMA Special Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map DateAre the utilities and/or off-site improvements typical for the market area? Yes No If No, describe.Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? Yes No If Yes, describe.

SITE

General Description Foundation Exterior Description materials/condition Interior materials/conditionUnits One One with Accessory Unit Concrete Slab Crawl Space Foundation Walls Floors# of Stories Full Basement Partial Basement Exterior Walls WallsType Det. Att. S-Det./End Unit Basement Area sq. ft. Roof Surface Trim/Finish

Existing Proposed Under Const. Basement Finish % Gutters & Downspouts Bath FloorDesign (Style) Outside Entry/Exit Sump Pump Window Type Bath WainscotYear Built Evidence of Infestation Storm Sash/Insulated Car Storage NoneEffective Age (Yrs) Dampness Settlement Screens Driveway # of Cars

Attic None Heating FWA HWBB Radiant Amenities Woodstove(s) # Driveway Surface Drop Stair Stairs Other Fuel Fireplace(s) # Fence Garage # of Cars Floor Scuttle Cooling Central Air Conditioning Patio/Deck Porch Carport # of Cars Finished Heated Individual Other Pool Other Att. Det. Built-in

Appliances Refrigerator Range/Oven Dishwasher Disposal Microwave Washer/Dryer Other (describe)Finished area above grade contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area Above GradeAdditional features (special energy efficient items, etc.)

Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.).

Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? Yes No If Yes, describe

Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? Yes No If No, describe

IMPR

OVE

MEN

TS

Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005Page of

Diligent Appraisal Services10580fernandez

Case No.

16122 Lemuria Ln SE Yelm WA 98597-7934Fernandez, Rene Fernandez, Rene Thurston

SEE FULL LEGAL DESCRIPTION PAGE #9 OF THIS REPORT.236-19-340503 2015 4,218

Yelm Local 0125.10X 0 0

XX

Fernandez, Rene X

Realist/MLS

XXX

XX

X 400639427

12610

6555

10vacant 15

The neighborhood provides an average environment for the property being appraised. North: Hwy 702, East: Hwy 7, West: hwy 507, South: Thurston/Lewis County lines.

Subject is located in a neighborhood of mixed use (although primarily residential) properties. This is an area with shopping, employment, schools parks and public transportation within a reasonable distance. Appeal to market is average to good.

All methods of financing are available including conventional and FHA/VA. Seller discounts, interest buy downs or concessions are not

typical in this market but are utilized at times. Typical market time is over six months. Intended use/intended user: This appraisal is FOR NAMED FOR CLIENT PURPOSES ONLY ANY OTHER USE IS STRICTLY

PROHIBITED. The sales reports for the subject area reflect a stable market.

See Plat Map 7.51 ac Irregular B;Woods;MtnRRR1/5 Rural Residential Resource one dwelling unit per five acres

XX Highest and

best use is as currently developed.

X SolarX Propane

X WellX Septic

Gravel XNone

X X 53067C0555E 10/16/2012X

XNo apparent adverse easements, encroachments or environmental conditions noted at the time of inspection.

X2

XX

Contemp20043

XX

1,431100

XNone noted

Concrete/gdWood/Concrete/gdComp/gd

Metal/gdDuopane/gd

Vinyl/Metal/gdMetal/avg

Crpt/Tile/Hd/gdDrywall/gdWood/gdTile/gd

Lam/Tile/gd

XX Solar

X Filtration

0X Both

None

X 1X FenceX Front

None

X 6

GravelX 1

0 X

X X X X X6 3 2.0 1,407

Subject energy features are typical for similar improvements within the subject's neighborhood. see additional comments page 3.

C2;Kitchen-updated-one to five years ago;Bathrooms-updated-one to five years ago;The Subject has been well maintained.

XNo apparent physical deficiencies or adverse conditions noted at time of inspection that would affect livability, soundness or structural integrity of the Subject.

X The property generally conforms to the neighborhood.

1 47


Net Adj: 12% Gross Adj : 29%

Net Adj: 25% Gross Adj: 34%


File No.

Uniform Residential Appraisal ReportThere are comparable properties currently offered for sale in the subject neighborhood ranging in price from $ to $ .There are comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ to $ .

FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3Address

Proximity to SubjectSale Price $ $ $ $Sale Price/Gross Liv. Area $ sq. ft. $ sq. ft. $ sq. ft. $ sq. ft.Data Source(s)Verification Source(s)VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ AdjustmentSale or FinancingConcessionsDate of Sale/TimeLocationLeasehold/Fee SimpleSiteViewDesign (Style)Quality of ConstructionActual AgeConditionAbove Grade Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. BathsRoom CountGross Living Area sq. ft. sq. ft. sq. ft. sq. ft.Basement & FinishedRooms Below GradeFunctional UtilityHeating/CoolingEnergy Efficient ItemsGarage/CarportPorch/Patio/Deck

Net Adjustment (Total) + - $ + - $ + - $Adjusted Sale Priceof Comparables $ $ $I did did not research the sale or transfer history of the subject property and comparable sales. If not, explain

My research did 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)My research did did not reveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale.Data source(s)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 # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3Date of Prior Sale/TransferPrice of Prior Sale/TransferData Source(s)Effective Date of Data Source(s)Analysis of prior sale or transfer history of the subject property and comparable sales

Summary of Sales Comparison Approach

SALE

S C

OM

PAR

ISO

N A

NA

LYSI

S

Indicated Value by Sales Comparison Approach $Indicated Value by: Sales Comparison Approach $ Cost Approach (if developed) $ Income Approach (if developed) $

This appraisal is made "as is," subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have beencompleted, subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or subject to thefollowing required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair:

Based on a complete visual inspection of the interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limitingconditions, 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

REC

ON

CIL

IATI

ON

$ , as of , which is the date of inspection and the effective date of this appraisal.Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005

Page of


Case No.

15 309,950 1,550,00018 400,000 639,000

16122 Lemuria Ln SEYelm, WA 98597-7934

0.00

B;Res;Fee Simple

7.51 acB;Woods;MtnDT2;Contemp

Q212C2

6 3 2.01,407

1431sf1431sfwo1rr2br2.0ba2o

AverageSolar/Filtration

Duopane1gd6dw

Porch/Deck/PatioFireplaces 1 Wood StoveOther site items UG/Fnc/SunRmDoc#

16521 Woodbrok Ln SERainier, WA 98576

8.08 miles W639,000

229.69MLS;DOM 1

Agent/MLS#900956

ArmLth 0Seller;0 0

s04/16;c03/16 0B;WtrFr;River -5,000Fee Simple

7.34 ac 0B;Wtr;Woods 0

DT2.5;Contemp 0Q228 0C2

6 3 2.02,782 -48,125

1040sf1040sfwo +11,7301rr0br0.0ba2o +8,000

AverageFAU/None +10,000Duopane2cp4dw 0

Porch/Deck/Patio 03 Fireplaces -2,000

Inferior +100,00020160415 0

X 74,605

713,605

17700 Mulqueen Rd SERainier, WA 98576

7.92 miles W600,000

272.23MLS;DOM 303

Agent/Realist/MLS#26185

ArmLth 0Cash;0 0

s06/11;c04/11 +6,000B;Res;

Fee Simple5.00 ac +12,550

B;Pstrl;Woods +5,000DT1;Berm 0

Q210 0C2

6 3 2.02,204 -27,895

0sf +42,930+8,000

AverageRadiant/Filtration 0

Duopane6dw +2,000

Porch/Patio +1,0001 Wood Stove

Inferior +100,00020110607 0

X 149,585

749,585

8710 Mountain View Rd SEYelm, WA 9859710.03 miles NW

499,900136.51

MLS;DOM 396Realist/MLS#697120

ArmLth 0Conv;14997 0

s09/15;c07/15 0B;WtrFr;River -5,000Fee Simple

5.00 ac +12,550B;Wtr;Woods 0DT2;Contemp 0

Q3 +5,00013 0C3 +5,000

7 3 3.0 -4,0003,662 -78,925

0sf +42,930+8,000

AverageRadiant/None +10,000

Duopane2ga6dw -2,000

Porch/Deck/Patio2 Fireplaces -1,000

Inferior +100,0004464028 0

X 92,555

592,455X Sale and transfer history for the subject and the

comparables for prior 36 months was researched and reported herein if any record was found during the normal course of business.

XRealQuest/Assessor

XRealQuest/Assessor

02/08/2011$450,000

per Realist/Assessor05/01/2016

12/20/2007$0


05/14/2008$550,000


09/30/2005$560,000


No other sales history/transfer history than that shown above for the past 36 months.

SEE COMMENT ADDENDUM...

715,000715,000 1,038,466

The Cost Approach is supportive of the Sales Comparison Approach. The Sales Comparison Approach is given the most weight because of it's reflection of the buyers and sellers actions in the market.

X

This appraisal has been prepared as a

summary of a complete appraisal as defined by the Appraisal Standards Board of the Appraisal Foundation and complies with USPAP. No items of personal property are included in the valuation.

715,000 03/31/2016

2 47


File No.

Uniform Residential Appraisal Report

AD

DIT

ION

AL

CO

MM

ENTS

COST APPROACH TO VALUE (not required by Fannie Mae.)Provide adequate information for the lender/client to replicate your cost figures and calculations.Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value)

ESTIMATED REPRODUCTION OR REPLACEMENT COST NEW OPINION OF SITE VALUE =$Source of cost data Dwelling Sq. Ft. @ $ =$Quality rating from cost service Effective date of cost data Sq. Ft. @ $ =$Comments on Cost Approach (gross living area calculations, depreciation, etc.)

Garage/Carport Sq. Ft. @ $ =$Total Estimate of Cost-new =$Less Physical Functional ExternalDepreciation =$ ( )Depreciated Cost of Improvements =$"As-is" Value of Site Improvements =$

CO

ST A

PPR

OA

CH

Estimated Remaining Economic Life (HUD and VA only) Years Indicated Value By Cost Approach =$INCOME APPROACH TO VALUE (not required by Fannie Mae.)

Estimated Monthly Market Rent $ X Gross Multiplier =$ Indicated Value by Income ApproachSummary of Income Approach (including support for market rent and GRM)

INC

OM

E

PROJECT INFORMATION FOR PUDs (if applicable)Is the developer/builder in control of the Homeowner's Association (HOA)? Yes No Unit type(s) Detached AttachedProvide the following information for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit.Legal Name of ProjectTotal number of phases Total number of units Total number of units soldTotal number of units rented Total number of units for sale Data source(s)Was the project created by the conversion of existing building(s) into a PUD? Yes No If Yes, date of conversion.Does the project contain any multi-dwelling units? Yes No Data source.Are the units, common elements, and recreation facilities complete? Yes No If No, describe the status of completion.

Are the common elements leased to or by the Homeowner's Association? Yes No If Yes, describe the rental terms and options.

Describe common elements and recreational facilities.

PUD

INFO

RM

ATI

ON



Case No.

SUBJECT IMPROVEMENTS: The Subject is a Contemporary with a UG style home built in 2004. Main structure has the following: Pyramid ceiling; Living room and dining room with a wall of windows to enjoy the Mt Rainier view. Living room with sliding glass door that leads to the view deck. Dining room with wood stove and sliding glass door that leads to the sun room. Kitchen with large pantry. There are two bedrooms and a full bathroom on the main floor. There is a loft overlooking the living room. The UG is accessed through one of the basement rooms; through a hatch (thick metal door). Access through a tunnel (two tanks) that lead to another hatch; entering this area is the base of the UG; it has a kitchen, dining area, propane stove, bathroom, living room, bedroom and a family room. There is also an area under the kitchen that is a storage area. Access from the kitchen through another hatch is the mechanical room with two escape hatches that lead above ground. There is an filtration system and a sterilization system. The basement of the main area is concrete/berm and has the master suite, the bedroom has an access door that leads to the covered patio, master bathroom has an access door that leads to the covered patio and a bedroom has an access door that leads to the covered patio. There is the utility room and a hidden room which itself has a kitchenette and a bathroom. The hidden room has concrete on four sides. There is a detached one car garage, generator, lean to, solar panels, two 1,000 gallon propane tanks with an emergency shut off valve between the tanks and the buildings. There is a raised garden and the property is fenced and gated. The overall effective age was determined by a variety of factors including the quality of construction, condition, design and any external factors are compared to the presented comparable sale properties.

Co Recs, MLS sales, and appraisers knowledge of the area.

XMarshall & Swift

Avg 05/01/2016

Marshall & Swift cost services are combined with local contractor's costs estimates and appraisal experience to arrive an reproduction cost figures. Depreciation estimates are taken from Marshall and Swift. Land value ratio is typical for this market area. Site improvements include primarily driveway, landscaping and utilities.

60

100,0001,407 145.00 204,015

Bsmt. 1,431 145.00 207,495UG 550,000

352 30.00 10,560972,070

548,604

00

00 48,604

923,46615,000

1,038,466

3 47


File No.Uniform Residential Appraisal Report

This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit;including a unit in a planned unit development (PUD). This report form is not designed to report an appraisal of amanufactured home or a unit in a condominium or cooperative project.

This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value,statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intendeduse, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser mayexpand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisalassignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that donot constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser'scontinuing education or membership in an appraisal organization, are permitted.

SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and thereporting requirements of this appraisal report form, including the following definition of market value, statement ofassumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visualinspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of thecomparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources,and (5) report his or her analysis, opinions, and conclusions in this appraisal report.

INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is thesubject of this appraisal for a mortgage finance transaction.

The intended user of this appraisal report is the lender/client.INTENDED USER:

DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and openmarket under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assumingthe price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date andthe passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) bothparties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) areasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in termsof financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property soldunaffected by special or creative financing or sales concessions* granted by anyone associated with the sale.

*Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments arenecessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs arereadily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financingadjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutionallender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanicaldollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market'sreaction to the financing or concessions based on the appraiser's judgment.

STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report issubject to the following assumptions and limiting conditions:

1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the titleto it, except for information that he or she became aware of during the research involved in performing this appraisal. Theappraiser assumes that the title is good and marketable and will not render any opinions about the title.

2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements.The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determinationof its size.

3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency(or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in anidentified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express orimplied, regarding this determination.

4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question,unless specific arrangements to do so have been made beforehand, or as otherwise required by law.

5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, thepresence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he orshe became aware of during the research involved in performing this appraisal. Unless otherwise stated in this appraisalreport, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of theproperty (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances,adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no suchconditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any suchconditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist.Because the appraiser is not an expert in the field of environmental hazards, this appraisal report must not be considered asan environmental assessment of the property.

6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactorycompletion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property willbe performed in a professional manner.



Case No.

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File No.Uniform Residential Appraisal Report

APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that:

1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated inthis appraisal report.

2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the conditionof the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect thelivability, soundness, or structural integrity of the property.

3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional AppraisalPractice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were inplace at the time this appraisal report was prepared.

4. I developed my opinion of the market value of the real property that is the subject of this report based on the salescomparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approachfor this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not developthem, unless otherwise indicated in this report.

5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering forsale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subjectproperty for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report.

6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year priorto the date of sale of the comparable sale, unless otherwise indicated in this report.

7. I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property.

8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home thathas been built or will be built on the land.

9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subjectproperty and the comparable sales.

10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest inthe sale or financing of the subject property.

11. I have knowledge and experience in appraising this type of property in this market area.

12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listingservices, tax assessment records, public land records and other such data sources for the area in which the property is located.

13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report fromreliable sources that I believe to be true and correct.

14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subjectproperty, and the proximity of the subject property to adverse influences in the development of my opinion of market value. Ihave noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, thepresence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of thesubject property or that I became aware of during the research involved in performing this appraisal. I have considered theseadverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value andmarketability of the subject property.

15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, allstatements and information in this appraisal report are true and correct.

16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, whichare subject only to the assumptions and limiting conditions in this appraisal report.

17. I have no present or prospective interest in the property that is the subject of this report, and I have no present orprospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially orcompletely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, maritalstatus, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of thepresent owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law.

18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditionedon any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predetermined specificvalue, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the attainment of aspecific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application).

19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied onsignificant real property appraisal assistance from any individual or individuals in the performance of this appraisal or thepreparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in this appraisal report.I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any itemin this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take no responsibility for it.

20. I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization thatordered and will receive this appraisal report.



Case No.

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File No.

Uniform Residential Appraisal Report

21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of theborrower; the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; othersecondary market participants; data collection or reporting services; professional appraisal organizations; any department,agency, or instrumentality of the United States; and any state, the District of Columbia, or other jurisdictions; without having toobtain the appraiser’s or supervisory appraiser’s (if applicable) consent. Such consent must be obtained before this appraisalreport may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, publicrelations, news, sales, or other media).

22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certainlaws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practicethat pertain to disclosure or distribution by me.

23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgageinsurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as partof any mortgage finance transaction that involves any one or more of these parties.

24. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms aredefined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of thisappraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable andvalid as if a paper version of this appraisal report were delivered containing my original hand written signature.

25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/orcriminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United StatesCode, Section 1001, et seq., or similar state laws.

SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that:

1. I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser'sanalysis, opinions, statements, conclusions, and the appraiser's certification.

2. I accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions,statements, conclusions, and the appraiser's certification.

3. The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser (or theappraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law.

4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted andpromulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisalreport was prepared.

5. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms aredefined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of thisappraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable andvalid as if a paper version of this appraisal report were delivered containing my original hand written signature.

APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED)

Signature SignatureName NameCompany Name Company NameCompany Address Company Address

Telephone Number Telephone NumberEmail Address Email AddressDate of Signature and Report Date of SignatureEffective Date of Appraisal State Certification #State Certification # or State License #or State License # Stateor Other (describe) State # Expiration Date of Certification or LicenseStateExpiration Date of Certification or License

SUBJECT PROPERTYADDRESS OF PROPERTY APPRAISED

Did not inspect subject propertyDid inspect exterior of subject property from streetDate of Inspection

APPRAISED VALUE OF SUBJECT PROPERTY $ Did inspect interior and exterior of subject propertyLENDER/CLIENT Date of InspectionNameCompany Name COMPARABLE SALESCompany Address Did not inspect exterior of comparable sales from street

Did inspect exterior of comparable sales from streetEmail Address Date of Inspection


Diligent Appraisal Services 10580fernandezCase No.

Danette H Dean-Scott, CREADiligent Appraisal Services

P.O. Box 2612Yelm, WA [email protected]

06/14/201603/31/2016

1702742

WA

06/21/2017


715,000

Fernandez, Rene

6 47

Net Adj: 33% Gross Adj : 33%




File No.

BorrowerProperty Address

Zip CodeCity County StateLender/Client Address

FEATURE SUBJECT COMPARABLE SALE # COMPARABLE SALE # COMPARABLE SALE #Address

Proximity to SubjectSale Price $ $ $ $Sale Price/Gross Liv. Area $ sq. ft. $ sq. ft. $ sq. ft. $ sq. ft.Data Source(s)Verification Source(s)VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ AdjustmentSale or FinancingConcessionsDate of Sale/TimeLocationLeasehold/Fee SimpleSiteViewDesign (Style)Quality of ConstructionActual AgeConditionAbove Grade Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. BathsRoom CountGross Living Area sq. ft. sq. ft. sq. ft. sq. ft.Basement & FinishedRooms Below GradeFunctional UtilityHeating/CoolingEnergy Efficient ItemsGarage/CarportPorch/Patio/Deck

Net Adjustment (Total) + - $ + - $ + - $Adjusted Sale Priceof Comparables $ $ $

Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable salesITEM SUBJECT COMPARABLE SALE # COMPARABLE SALE # COMPARABLE SALE #

Date of Prior Sale/TransferPrice of Prior Sale/TransferData Source(s)Effective Date of Data Source(s)Analysis of prior sale or transfer history of the subject property and comparable sales

Summary of Sales Comparison Approach

SALE

S C

OM

PAR

ISO

N A

NA

LYSI

S

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Diligent Appraisal ServicesEXTRA COMPARABLES 4-5-6

10580fernandezCase No.

Fernandez, Rene16122 Lemuria Ln SEYelm Thurston WA 98597-7934

Fernandez, Rene


0.00

B;Res;Fee Simple

7.51 acB;Woods;MtnDT2;Contemp

Q212C2

6 3 2.01,407

1431sf1431sfwo1rr2br2.0ba2o

AverageSolar/Filtration

Duopane1gd6dw

Porch/Deck/PatioFireplaces 1 Wood StoveOther site items UG/Fnc/SunRmDoc#

418339 Bald Hill Rd SE

Yelm, WA 985972.55 miles S

499,000369.63

MLS;DOM 507Agent/MLS#927731

ArmLth 0Conv;0 0Active 0B;Res;


B;Wtr;Mtn 0DT1;Berm 0

Q26 0

C2

6 3 2.01,350 +1,995

0sf +42,930+8,000

AverageRadiant/None 0

Duopane1gd6dw


Inferior +100,000

X 166,275

665,275

512135 Windtree Ln SE

Rainier, WA 985769.80 miles NW

675,000270.65

MLS;DOM 205Realist/MLS#858938

Listing 0Conv;0 0Active 0B;Res;


B;Pstrl;Woods +5,000DT1;Berm 0

Q28 0

C2

7 3 2.1 -2,0002,494 -38,045

0sf +42,930+8,000

AverageRadiant/None 0

Duopane2gbi6dw -2,000


Inferior +100,000

X 125,735

800,735

6

02/08/2011$450,000


409/19/2008

$0per Realist/Assessor

05/01/2016

501/29/2015

$0per Realist/Assessor

05/01/2016

6

No other sales history/transfer history than that shown above for the stated time period.

SEE COMMENT ADDENDUM...

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COMMENT ADDENDUMFile No.

BorrowerProperty AddressCity County State Zip CodeLender/Client Address

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Diligent Appraisal Services


Fernandez, Rene16122 Lemuria Ln SE

Yelm Thurston WA 98597-7934Fernandez, Rene

PURPOSE AND FUNCTION OF APPRAISAL: The purpose of this appraisal is to provide the appraiser's best estimate of the market value of the subject as defined herein as of the inspection date. This is a Summary Appraisal Report which is intended to comply with the reported function of this report. This appraisal is to assist the named person in evaluating the subject property for real estate lending purposes on the subject property.

SCOPE OF THE WORK: The Income Approach was considered, however, not used due to a lack of pertinent data and no reliable GRMs. The Cost Approach is supportive of the Sales Comparison Approach. The Sales Comparison Approach is given the most weight because of it's reflection of the buyers and sellers actions in the market. The appraiser found comparable sales of similar style, age, location and GLA to reflect the "Fair Market Value".

APPRAISAL DEVELOPMENT AND REPORTING PROCESS: In preparing this appraisal the appraiser inspected the subject site, exterior and interior of the improvements. Information on comparable improved sales, land sales, rents, construction cost and accrued depreciation was gathered, confirmed and analyzed. The Sales Comparison, Cost and Income Approaches were considered, all three approaches may not ave been reported herein. To develop the opinion of value, the appraiser performed and completed the appraisal process as defined by USPAP. This means that no departures from Standard 1 were invoked. This report is a brief recapitulation of the appraiser's analyses and conclusions. Supporting documentation is retained in the appraiser's files. Sources include RealQuest, Puget Sound Multiple Listing Service, Marshall Swift Cost Handbook, discussions with realtors, county assessors records, local builders/contractors. This appraisal assignment was not based upon a requested valuation, specific valuation or approval of a loan. Employment of the appraiser was not conditioned upon the appraisal producing a specific value or value within a given range. Neither employment nor compensation are based upon approval of any related loan application.

Although due diligence was exercised during the inspection of at the subject, the appraiser is not an expert in such matters as pest control, structural engineering, hazardous waste, etc. and no warranty is given or implied as to these elements. As needed, inspections by various professionals within these fields might be recommended with the final estimate of value subject to their findings. Any third party studies referred to, such as pest, hazardous materials or structural reports have been verified by the appraiser to the extent the assumptions and conclusions are used. If any of the above conditions are of concern to the client, owner or purchaser of the subject property, it is recommended that an expert in these fields be retained. If any such inspections are conducted and deficiencies are discovered that would render the subject property less valuable, than the estimate of value contained in this reports is subject to correction. This appraisal does not serve as a warranty on the condition of the property or systems and appliances within the improvements. A thorough inspection of the crawl space and attic was not conducted. Unless otherwise stated,the foundation and substructure are assumed to be in satisfactory condition, structurally sound and free from pest and/or dry rot damage. The subject improvements mechanical systems as well as water and sewage disposal systems are assumed to be adequate for serving the subject property needs.

The subject property has been valued in its "As is" condition as of the date of the valuation and the appraisal report was prepared without any unrealistic assumption. The Highest and Best Use, as improved, is in conformity with current land uses in the area. If listed through the MLS, it is anticipated that the subject would experience a typical marketing period for the neighborhood.

DATE OF SALE: A thorough search was made for comparables in this market and similar market areas. If, in the appraisers judgment, sufficient closed sales under six months are not available, then Fannie Mae guidelines, section 406.03(dated/30/90), allows for the use of these sales. See TIME ADJUSTMENT comment below.

COMPARABLES: Comparable #1 is a recent high end home with a larger site and river front footage. Comparable #2 is a sale from 2011 however included as it is a Berm home. Comparable #3 is inferior in quality and condition. Comparable #4 is a Berm home. Comparable #5 is a Berm home. Comparables #4 and #5 are Active listings.

The Appraiser has made every attempt to bracket the Subject with respect to value, so that some inferior and some superior properties are analyzed. In prioritizing the selection of Comparable Sales, date of sale and proximity to the Subject, physical characteristics of the improvements, site amenities and overall street appeal are given most consideration.

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SALES COMPARISON ANALYSIS: After reviewing sales data for the area and visually inspecting properties with similar characteristics, the comparables selected are considered the most overall similar in design, quality and proximity to the subject, which offer the least adjustments to equate differences. There were several typical adjustments necessary to equate differences between the subject and the comparables. These adjustments were made on the Market Grid and explained below:

INCOME APPROACH: The Income Approach was considered however not developed.

COST APPROACH: The cost approach has only been developed by the appraiser as an analysis to support their opinion of the property's market value. Use of this data, in whole or part, for other purposes is not intended by the appraiser. Nothing set forth in the appraisal should be relied upon for the purpose of determining the amount or type of insurance coverage to be placed on the subject property. The appraiser assumes no liability for and does not guarantee that any insurable value estimate inferred from this report will result in the subject property being fully insured for any loss that may be sustained. Further, the cost approach may not be a reliable indication of replacement or reproduction cost for any date other than the effective date of this appraisal due to changing costs of labor and materials.

VIEW: View adjustments are based on the quality and quantity of the view amenity.

TIME ADJUSTMENT: Time adjustments were made for the dated sale as the Subject market is currently increasing.

SITE: Site adjustments are based on contributory value of the excess land for improved sites, not the cost of undeveloped land. $5,000 per acre.

LOCATION: Location adjustments were considered and utilized when deemed necessary. After researching the market, it was determined that the subject and all comparables are in similar market areas from the vantage point of the typical buyer. The subject and all comparable are within reasonable proximity to support facilities.

AGE: Age adjustments were not deemed necessary.

ROOM COUNT: Adjustments for bathrooms are made at $2,000 per half bathroom. Bedroom adjustments were not warranted.

GLA: All GLA adjustments are made at $35 per square foot for discrepancies of 50 square feet or more. $25 for basement square footage.

GARAGE: Garage adjustments were made at $2,000 per stall.

LEAD BASED PAINT: Approximately three-quarter's of all dwellings built prior to 1978 have lead based paint which may be present in or on the subject dwelling and other improvements on the property. While the presence of lead based paint is considered an adverse environmental condition, the effect of marketability is negligible due to lead based paint prevalence.

The Appraiser has not been unduly influenced in the development of this report as it relates to Dodd Frank or AIR.

Legal Description:

Section 19 Township 16 Range 3E Quarter NE SW SS010351TC LT 3 Document 3402097

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CONCESSIONS: The seller's in the subject's market are typically paying from 2.5% to 6% of the purchase price toward the borrower's closing costs. An adjustment for concessions was considered, however, not utilized as none of the comparable's sales concessions exceeded this typical amount. The seller's concessions were compared to similar sales that offered no seller's concessions. After review of the data , it was conclusive that seller's concessions that ranged between 2.5% and 6% of the purchase price did not have an impact on the final purchase price of the comparable sales. Therefore, no adjustments were warranted for seller's concessions.

RECONCILIATION: After reviewing sales data for the area and visually inspecting those with similar characteristics, those sales finally utilized in this report are considered the best indicators of the subject's value. All comparables are located within the subject's market area or similar areas and contain significant similarities to the subject which support the determined market value. In deriving the estimate of the market value, all comparables were considered.(See Comment addendum under Comparables).

DATE OF APPRAISAL: This appraisal is based on an analysis of the subject property as of the date of the inspection of 03/31/2016. Data and conclusions are based on the assumption that there have been no detrimental physical, functional or external factors transpiring between the date of inspection and the date of completion of this report.

STATEMENT OF COMPETENCY: I hereby submit that I have the necessary education, training, necessary data source, knowledge and extensive experience in appraising this type of property in which to competently complete this appraisal assignment in a professional manner.

CONFIDENTIALITY: In accordance with USPAP, the appraiser agrees that he/she will reveal analysis, value conclusion, and opinion to none other than the client, except with the permission of the client of by due process of law. The delivery of this report does not include communications regarding this report with any party except the client.

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NATURAL DISASTER IN WASHINGTON STATE: In regard to the natural disaster declared in Washington State the following conclusions have been made:

Having reviewed the original appraisal report and personally inspected the property mentioned above and surrounding neighborhood, I hereby certify that, to the best of my knowledge and belief, the inspection revealed no indications of moderate to significant physical damage to the property or neighborhood, no needed repairs to the site or the improvements other than those that were noted in the original appraisal report, and no adverse effect on the marketability and value of the property.

The subject was inspected after the date of the disaster in Washington State. The photos in this report were taken after the disaster in Washington State for the subject and all comparables. The subject has no apparent flood damage.

SCOPE OF SEARCH: (This section of the report is intended to give the underwriter/investor an understanding of the search for comparables)

11 47


SUBJECT PHOTO ADDENDUM File No.


FRONT OFSUBJECT PROPERTY

REAR OFSUBJECT PROPERTY

STREET SCENE

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Case No.Fernandez, Rene

16122 Lemuria Ln SEYelm Thurston WA 98597-7934

Fernandez, Rene


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Fernandez, Rene

Living room

Dining room

Kitchen

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Fernandez, Rene

Kitchen

Pantry

Ceiling

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Fernandez, Rene

Wood Stove

Bathroom

Bathroom (same as above)

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Fernandez, Rene

Bedroom

Smoke Detector

Bedroom

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Fernandez, Rene

Hot Water Tank

Ceiling

Loft

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Fernandez, Rene

Utility room

Bathroom

Bathroom (same as above)

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Fernandez, Rene

Mechanics

Master Bathroom

Master Bathroom

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Fernandez, Rene

Master Bathroom

Master Bedroom

Hidden room

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Fernandez, Rene

Hidden room

Den

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Fernandez, Rene

Entry to Tunnel

Tunnel

Second Entry to Berm

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Fernandez, Rene

Berm Kitchen

Berm wood Stove and Dining room

Ceiling

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Fernandez, Rene

Berm Bathroom

Berm Bathroom

Berm Kitchen

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Fernandez, Rene

Berm Bedroom

Berm Living room

Hatch

25 47




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Fernandez, Rene

Earthquake Valve

Family room

Storage area

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Fernandez, Rene

Storage area (survival supplies)

Storage area (survival supplies)

Water System

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Fernandez, Rene

Mechanics room

Water System

Escape Hatch

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Fernandez, Rene

Escape Hatch

Tunnel looking back to main house

Septic Tanks and vents/escape hatchesabove Berm

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Fernandez, Rene

Escape Hatches

Escape Hatch

Air Vents for Berm

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Fernandez, Rene

Side

Top of Berm

Septic Tanks

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Fernandez, Rene

View

Retaining wall

Retaining wall

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Fernandez, Rene

Sun room

Side

Side and Sun room

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Fernandez, Rene

Front/side

Raised Flower Beds w/irrigation

Circular Drive

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Fernandez, Rene

Well

Garage

Garage

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Fernandez, Rene

Lean to

Generator

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Fernandez, Rene

Solar Panels

Under ground Propane Tanks

Shut off Valve

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Fernandez, Rene

Property

Property

Property

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File No.


COMPARABLE SALE #

COMPARABLE SALE #

COMPARABLE SALE #

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Diligent Appraisal ServicesCOMPARABLES 1-2-3 10580fernandez



Fernandez, Rene

116521 Woodbrok Ln SERainier, WA 98576

217700 Mulqueen Rd SERainier, WA 98576

38710 Mountain View Rd SEYelm, WA 98597

39 47


File No.


COMPARABLE SALE #

COMPARABLE SALE #

COMPARABLE SALE #

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Diligent Appraisal ServicesCOMPARABLES 4-5-6 10580fernandez



Fernandez, Rene

418339 Bald Hill Rd SEYelm, WA 98597

512135 Windtree Ln SERainier, WA 98576

6

40 47


SKETCH ADDENDUM File No.


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Fernandez, Rene

48.5'

29.5'

18.0'

4.0'6.0'

24.5'

29.5'

29.5'

48.5'

29.5'

14.0'

20.0'

14.0'8.0'

6.0'

11.0'

18.0'

11.0'

28.0'

9.0'9.0'

12.0'

12.0'

12.0'

12.0'

9.0'

13.0'

9.0'

uncvrd Deck

cvrd Patio

Lof t

Sun

room

Kitchen

Din

ingLiv ingBed

Bed

Bath

Garagelean

toBath

util

Bed Bath Bed

Hidden

roomBath

enclosed Porch

entry to

Berm

UG is 30f t in Diameter (amenities are described on page #3)

Tunnel (tanks) 8f t in Diameter

16.0'

16.0'

22.0'

SKETCH CALCULATIONS Perimeter Area

Misc. AreaSun Room 280.0

Total Misc. Area 280.0

Living AreaFirst Floor 1406.8Basement 1430.8Loft 144.0

Total Living Area 1550.8

Garage AreaDetached Garage 352.0

Total Garage Area 352.0

Porch AreaPorch 48.0

Total Porch Area 48.0

Patio/Deck AreaDeck 198.0Patio 252.0

Total Patio/Deck Area 450.0

Storage AreaLean to 117.0

Total Storage Area 117.0

41 47


PLAT MAP File No.


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Fernandez, Rene

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File No.LOCATION MAP ADDENDUM


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Fernandez, Rene

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FLOOD MAP ADDENDUM File No.


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Fernandez, Rene

SUBJECT

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UNIFORM APPRAISAL DATASET (UAD) File No.Property Condition and Quality Rating Definitions

Requirements - Condition and Quality Ratings Usage

Appraisers must utilize the following standardized condition and quality ratings within the appraisal report.

Condition Ratings and Definitions

C1The improvements have been recently constructed and have not been previously occupied. The entire structure and all components are new and the dwelling features nophysical depreciation.

Note: Newly constructed improvements that feature recycled or previously used materials and/or components can be considered new dwellings provided that the dwelling

is placed on a 100 percent new foundation and the recycled materials and the recycled components have been rehabilitated/remanufactured into like-new condition. Improvements

that have not been previously occupied are not considered "new" if they have significant physical depreciation (that is, newly constructed dwellings that have been vacant for an

extended period of time without adequate maintenance or upkeep).

C2The improvements feature no deferred maintenance, little or no physical depreciation, and require no repairs. Virtually all building components are new or have been recently repaired, refinished, or rehabilitated. All outdated components and finishes have been updated and/or replaced with components that meet current standards. Dwellings in thiscategory are either almost new or have been recently completely renovated and are similar in condition to new construction.

Note: The improvements represent a relatively new property that is well maintained with no deferred maintenance and little or no physical depreciation, or an older property

that has been recently completely renovated.

C3The improvements are well maintained and feature limited physical depreciation due to normal wear and tear. Some components, but not every major building component,may be updated or recently rehabilitated. The structure has been well maintained.

Note: The improvement is in its first-cycle of replacing short-lived building components (appliances, floor coverings, HVAC, etc.) and is being well maintained. Its estimated

effective age is less than its actual age. It also may reflect a property in which the majority of short-lived building components have been replaced but not to the level of

a complete renovation.

C4The improvements feature some minor deferred maintenance and physical deterioration due to normal wear and tear. The dwelling has been adequately maintained andrequires only minimal repairs to building components/mechanical systems and cosmetic repairs. All major building components have been adequately maintained and arefunctionally adequate.

Note: The estimated effective age may be close to or equal to its actual age. It reflects a property in which some of the short-lived building components have been replaced,

and some short-lived building components are at or near the end of their physical life expectancy; however, they still function adequately. Most minor repairs have been

addressed on an ongoing basis resulting in an adequately maintained property.

C5The improvements feature obvious deferred maintenance and are in need of some significant repairs. Some building components need repairs, rehabilitation, or updating.The functional utility and overall livability are somewhat diminished due to condition, but the dwelling remains useable and functional as a residence.

Note: Some significant repairs are needed to the improvements due to the lack of adequate maintenance. It reflects a property in which many of its short-lived building

components are at the end of or have exceeded their physical life expectancy but remain functional.

C6The improvements have substantial damage or deferred maintenance with deficiencies or defects that are severe enough to affect the safety, soundness, or structural integrityof the improvements. The improvements are in need of substantial repairs and rehabilitation, including many or most major components.

Note: Substantial repairs are needed to the improvements due to the lack of adequate maintenance or property damage. It reflects a property with conditions severe enough

to affect the safety, soundness, or structural integrity of the improvements.

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45 47


UNIFORM APPRAISAL DATASET (UAD)Property Condition and Quality Rating Definitions

File No.

Quality Ratings and Definitions

Q1Dwellings with this quality rating are usually unique structures that are individually designed by an architect for a specified user. Such residences typically are constructedfrom detailed architectural plans and specifications and feature an exceptionally high level of workmanship and exceptionally high-grade materials throughout the interior andexterior of the structure. The design features exceptionally high-quality exterior refinements and ornamentation, and exceptionally high-quality interior refinements. Theworkmanship, materials, and finishes throughout the dwelling are exceptionally high quality.

Q2Dwellings with this quality rating are often custom designed for construction on an individual property owner's site. However, dwellings in this quality grade are also foundin high-quality tract developments featuring residences constructed from individual plans or from highly modified or upgraded plans. The design features detailed, high-qualityexterior ornamentation, high-quality interior refinements, and detail. The workmanship, materials, and finishes throughout the dwelling are generally of high or very high quality.

Q3Dwellings with this quality rating are residences of higher quality built from individual or readily available designer plans in above-standard residential tract developmentsor on an individual property owner's site. The design includes significant exterior ornamentation and interiors that are well finished. The workmanship exceeds acceptablestandards and many materials and finishes throughout the dwelling have been upgraded from "stock" standards.

Q4Dwellings with this quality rating meet or exceed the requirements of applicable building codes. Standard or modified standard building plans are utilized and the design includesadequate fenestration and some exterior ornamentation and interior refinements. Materials, workmanship, finish, and equipment are of stock or builder grade and may featuresome upgrades.

Q5Dwellings with this quality rating feature economy of construction and basic functionality as main considerations. Such dwellings feature a plain design using readily availableor basic floor plans featuring minimal fenestration and basic finishes with minimal exterior ornamentation and limited interior detail. These dwellings meet minimum building codesand are constructed with inexpensive, stock materials with limited refinements and upgrades.

Q6Dwellings with this quality rating are of basic quality and lower cost; some may not be suitable for year-round occupancy. Such dwellings are often built with simple plans orwithout plans, often utilizing the lowest quality building materials. Such dwellings are often built or expanded by persons who are professionally unskilled or possess only minimalconstruction skills. Electrical, plumbing, and other mechanical systems and equipment may be minimal or non-existent. Older dwellings may feature one or more substandardor non-conforming additions to the original structure.

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Requirements - Definitions of Not Updated, Updated and Remodeled

Not Updated

Little or no updating or modernization. This description includes, but is not limited to, new homes.

Residential properties of fifteen years of age or less often reflect an original condition with no updating, if no major components have been replaced or updated. Those overfifteen years of age are also considered not updated if the appliances, fixtures, and finishes are predominantly dated. An area that is 'Not Updated' may still be wellmaintained and fully functional, and this rating does not necessarily imply deferred maintenance or physical/functional deterioration.

Updated

The area of the home has been modified to meet current market expectations. These modifications are limited in terms of both scope and cost.

An updated area of the home should have an improved look and feel, or functional utility. Changes that constitute updates include refurbishment and/or replacing componentsmeet existing market expectations. Updates do

Remodeled

Significant finish and/or structural changes have been made that increase utility and appeal through complete replacement and/or expansion.

A remodeled area reflects fundamental changes that include multiple alterations. These alterations may include some or all of the following: replacement of a majorcomponent (cabinet(s), bathtub, or bathroom tile), relocation of plumbing/gas fixtures/appliances, significant structural alterations (relocating walls, and/or the additionof square footage). This would include a complete gutting and rebuild.

Explanation of Bathroom Count

Three-quarter baths are counted as a full bath in all cases. Quarter baths (baths that feature only a toilet) are not included in the bathroom count. The number of full andhalf baths is reported by separating the two values using a period, where the full bath count is represented to the left of the period and the half bath count is represented to the right of the period.

Example:3.2 indicates three full baths and two half baths.

(Updated 1/2014)

not include significant alterations to the existing structure.



46 47


UNIFORM APPRAISAL DATASET (UAD)Property Description Abbreviations Used in This Report

File No.

Abbreviation Full Name May Appear in These Fields

Page of

AacAdjPrkAdjPwrArmLthATBbabrBsyRdcCashCommConvcpCrtOrdCtySky

cvDOMDTdweEstateFHAggagbigdGlfCseGlfvwGRHRinIndListingLndflLtdSghtMRMtnNNonArmoOopPrk

AdverseAcresAdjacent to ParkAdjacent to Power LinesArms Length SaleAttached StructureBeneficialBathroom(s)BedroomBusy RoadContracted DateCashCommercial InfluenceConventionalCarportCourt Ordered SaleCity View Skyline ViewCity Street ViewCoveredDays On MarketDetached StructureDrivewayExpiration DateEstate SaleFederal Housing AdministrationGarageAttached GarageBuilt-In GaragesDetached GarageGolf CourseGolf Course ViewGardenHigh RiseInterior Only StairsIndustrialListingLandfillLimited SightMid RiseMountain ViewNeutralNon-Arms Length SaleOtherOther

Park View

Location & ViewArea, SiteLocationLocationSales or Financing ConcessionsDesign (Style)Location & ViewBasement & Finished Rooms Below GradeBasement & Finished Rooms Below GradeLocationDate of Sale/TimeSale or Financing ConcessionsLocationSale or Financing Concessions

ViewView

Garage/Carport

Data Sources

Date of Sale/Time

Garage/Carport

Design (Style)

Garage/CarportGarage/Carport

Garage/Carport

Sale or Financing Concessions

Sale or Financing ConcessionsSale or Financing Concessions

Garage/CarportGarage/CarportLocationViewDesing (Style)Design (Style)Basement & Finished Rooms Below GradeLocation & ViewSales or Financing ConcessionsLocationViewDesign (Style)ViewLocation & ViewSale or Financing ConcessionsBasement & Finished Rooms Below GradeDesign (Style)Garage/CarportView

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Open

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ReloREOResRHrrRTsSDShortsfsqmUnkVAwwoWoodsWtrWtrFrwu

Pastoral View

Power LinesPublic Transportation

Relocation SaleREO SaleResidentialUSDA - Rural HousingRecreational (Rec) RoomRow or TownhouseSettlement DateSemi-detached StructureShort SaleSquare FeetSquare MetersUnknownVeterans AdministrationWithdrawn DateWalk Out BasementWoods ViewWater ViewWater FrontageWalk Up Basement

View

ViewLocation

Sale or Financing ConcessionsSale or Financing ConcessionsLocation & ViewSale or Financing ConcessionsBasement & Finished Rooms Below GradeDesign (Style)Date of Sale/TimeDesign (Style)Sale or Financing ConcessionsArea, Site, BasementArea, SiteDate of Sale/TimeSale or Financing ConcessionsDate of Sale/TimeBasement & Finished Rooms Below GradeViewViewLocationBasement & Finished Rooms Below Grade

(Updated 1/2014)



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