located at: for: as of: bywilmingtonlibrary.org/appraisal.pdf · thomas a. bolhouse main file no....

Main File No. #2014-022 Page # 1

Thomas A. Bolhouse

Form GA2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

219 S Kankakee St

Lot 8 in Block 38 in the City of Wilmington, See Addendum

Wilmington, IL 60481

Wilmington Public Library District

201 S Kankakee St


02/07/2014

Thomas A Bolhouse

James V Smith & Associates

305 N Ottawa St

Joliet, Illinois

60435

APPRAISAL OF REAL PROPERTY

LOCATED AT:

FOR:

AS OF:

BY:


#2014-022Wilmington Public Library District

219 S Kankakee St

Wilmington Will IL 60481


Cover Page ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

Table of Contents ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

Invoice ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

USPAP Identification ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

GP Restricted Use - Page 1 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

GP Restricted Use - ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

Additional Comparables 4-6 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

General Text Addendum ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

Subject Photos ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

Photograph Addendum ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

Photograph Addendum ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

Comparable Photos 1-3 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

Comparable Photos 4-6 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

Building Sketch ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

Flood Map ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

Aerial Map ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

Location Map ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

GP Restricted Use Certifications Addendum - Page 1 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

GP Restricted Use Certifications Addendum - Page 2 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

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Form TOCNP - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Borrower

Client

File No.

Property Address

City County State Zip Code

TABLE OF CONTENTS

Main File No. #2014-022 Page # 3Thomas A. Bolhouse

James V Smith

James V. Smith & Associates

305 N. Ottawa St

Joliet, IL

60432

815-727-2550 815-727-7067

Maria Meachum


201 S Kankakee St


[email protected]

815-476-2834 815-485-2095

#2014-022

02/10/2014

Upon Receipt of appraisal

T011410

#2014-022

#2014-022

219 S Kankakee St

Wilmington Public Library District Wilmington Public Library District


219 S Kankakee St

Wilmington

Will IL 60481

Lot 8 in Block 38 in the City of Wilmington, See Addendum

350.00

350.00

0

350.00

Form NIV5D - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

FROM:

Telephone Number: Fax Number:

TO:

E-Mail:

Telephone Number: Fax Number:

Alternate Number:

INVOICE

INVOICE NUMBER

DATES

Invoice Date:

Due Date:

REFERENCE

Internal Order #:

Lender Case #:

Client File #:

FHA/VA Case #:

Main File # on form:

Other File # on form:

Federal Tax ID:

Employer ID:

DESCRIPTION

Lender: Client:

Purchaser/Borrower:

Property Address:

City:

County: State: Zip:

Legal Description:

FEES AMOUNT

SUBTOTAL

PAYMENTS AMOUNT

Check #: Date: Description:

Date:Check #: Description:

Check #: Date: Description:

SUBTOTAL

TOTAL DUE $


Wilmington Public Library District #2014-022

219 S Kankakee St



APPRAISAL AND REPORT IDENTIFICATION

2-2(a)

2-2(b)

Comments on Standards Rule 2-3

We certify that, to the best of our knowledge and belief:

- The statements of fact contained in this report are true and correct.

- The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are our personal, impartial, and unbiased professional

analyses, opinions, and conclusions.

- Unless otherwise indicated, we have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties

involved.

- Unless otherwise indicated, we have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year

period immediately preceding acceptance of this assignment.

- We have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.

- Our engagement in this assignment was not contingent upon developing or reporting predetermined results.

- Our compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the

client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal.

- Our analyses, opinions and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice that

were in effect at the time this report was prepared.

- Unless otherwise indicated, We have made a personal inspection of the property that is the subject of this report.

- Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification (if there are exceptions, the name of each

individual providing significant real property appraisal assistance is stated elsewhere in this report).

Exposure Time/Marketing time of the subject property at the appraised value is 3-6 months.

Comments on Appraisal and Report IdentificationNote any USPAP-related issues requiring disclosure and any state mandated requirements:

Competency Provision - From our understanding of the assignment to be performed, which has been addressed above in the Scope and

Function of this Appraisal and in the appraisal engagement, it is our opinion that we are fully competent to perform this appraisal,

because:

A. We have full knowledge and experience in the nature of this assignment.

B. We have taken all necessary and appropriate steps in order to complete this assignment competently.

C. We have no lack of knowledge or experience that would prohibit this assignment to be completed in a professional and competent

manner.

D. We have full knowledge and experience in this market area.

APPRAISER'S PRIOR INVOLVEMENT OF THE SUBJECT PROPERTY

The appraisers have not provided any professional services on the subject property over the past 3 years.

COMMENTS ON THE APPRAISAL ORDER

This is a restricted use appraisal of a single family property and the compensation to be paid to the appraisers for this appraisal

assignment is $350.00. The appraisal was ordered by Maria Meachum from the Wilmington Public Library on 01/31/2014, the appraisal

inspection was completed on 02/07/2014 per borrower request and the appraisal was delivered to Maria Meachum from the Wilmington

Public Library on 02/10/2014.

Thomas A Bolhouse

State Certified Residential Appraiser

556.000474

IL 09/30/2015

02/10/2014

02/07/2014

02/07/2014

James V Smith

Certified General Real Estate Appraiser

553.001173

IL 09/30/2015

02/10/2014

Form ID14E - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Borrower

Client

File No.

Property Address


This Report is one of the following types:

Appraisal Report (A written report prepared under Standards Rule , pursuant to the Scope of Work, as disclosed elsewhere in this report.)

Restricted

Appraisal Report

(A written report prepared under Standards Rule , pursuant to the Scope of Work, as disclosed elsewhere in this report,

restricted to the stated intended use by the specified client or intended user.)

Reasonable Exposure Time (USPAP defines Exposure Time as the estimated length of time that the property interest being

appraised would have been offered on the market prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal.)

My Opinion of Reasonable Exposure Time for the subject property at the market value stated in this report is:

APPRAISER:

Signature:

Name:

State Certification #:

or State License #:

State: Expiration Date of Certification or License:

Date of Signature and Report:

Effective Date of Appraisal:

Inspection of Subject: None Interior and Exterior Exterior-Only

Date of Inspection (if applicable):

SUPERVISORY or CO-APPRAISER (if applicable):

Signature:

Name:

State Certification #:

or State License #:

State: Expiration Date of Certification or License:

Date of Signature:

Inspection of Subject: None Interior and Exterior Exterior-Only

Date of Inspection (if applicable):

Main File No. #2014-022 Page # 5Thomas A. Bolhouse

219 S Kankakee St

#2014-022RESTRICTED APPRAISAL REPORT219 S Kankakee St Wilmington IL 60481

Will Lot 8 in Block 38 in the City of Wilmington, See Addendum

03-17-25-344-004-0000

2012 3,441 0 Wilmington Public Library District


1

Wilmington 16974 8834.01

To determine the market value of the subject property for possible negotiating purposes as of the effective date of 02/07/2014.

Wilmington Public Library District 201 S Kankakee St, Wilmington, IL 60481

Thomas A Bolhouse 305 N. Ottawa, Joliet, IL 60432

219 S Kankakee St


0

Inspection

Assessor

N/A

Insp:02/07/2014

Fee Simple

Residential

8,712 sf

Residential

Ranch

Vinyl

23 Years

Average

6 3 1

1,033

Full Basement

1 Room

Average

Fwa/Cac

None

No Garage

None

Extras None

Extras No Fireplace

Extras None

Extras None

Extras None

1411 Charlotte St


0.99 miles NW

129,900

129.90

MRED MLS#08279985-DOM#218

Assessor,Tax, Corelogic

FHA-Arms Length

Points Pd -3,500

Cld:06/24/2013

Fee Simple

Residential

10,125 sf

Residential

Ranch

Vinyl

13 Years

Average

5 3 1

1,000

No Basement +10,000

N/A +1,500

Average

Fwa/Cac

None

1 Car Garage -4,000

Deck -3,500

None

No Fireplace

None

None

None

500

Net 0.4 %

Gross 17.3 % 130,400

922 Judy Dr


1.07 miles SE

153,000

115.91



Conv-Arms Length

Points Pd -1,500

Cld:06/21/2013

Fee Simple

Residential

11,250 sf

Residential

Ranch

Vinyl

21 Years

Average

5 3 1

1,320 -6,000

No Basement +10,000

N/A +1,500

Average

Fwa/Cac

None

2 Car Garage -8,000

Deck -3,500

Patio -2,500

No Fireplace

C. Porch -2,500

Gazebo -2,500

None

-15,000

Net 9.8 %

Gross 24.8 % 138,000

1208 Park Dr


0.91 miles S

110,000

106.18



Conv-Arms Length

No Points Pd

Cld:08/05/2013

Fee Simple

Residential

10,164 sf

Residential

Ranch

Vinyl

50 Years +10,000

Average

6 3 1.1 -1,500BA

1,036

No Basement +10,000

N/A +1,500

Average

Fwa/Cac

None

2 Car Garage -8,000

None

Patio -2,500

No Fireplace

None

None

None

9,500

Net 8.6 %

Gross 30.5 % 119,500

Comparables 1, 2 and 6 were given the greatest weight as they are the most similar to the subject

property. At the time of the inspection there was a limited number of recent sales of similar 1 story ranch homes, making it necessary to use

comps 1, 2 and 5 that sold over 6 months of the appraisal. No time adjustment was deemed necessary for comps 1, 2 and 5 being older

dated sales as the property values in this market area have remained stable within the past year. The subject is located in a mostly older

residential marketing area and therefore, there was a lack of similar age sales and listings available. Therefore, comps 3, 4, 5 and 6 which

are older age comps were utilized and adjusted up in the age section as they have higher overall effective ages. Comps 2, 4, 5 and 6 were

adjusted in the GLA section for size differences over 100 sq ft at $20 PSF and rounded to the nearest $500. The majority of the homes in

this market area do not have basements and there were no sales found of similar ranch homes with basements. Therefore, comps 1, 2, 3, 4

and 5 were utilized and adjusted up for not having any basements and comp 6 which is an active listing was included as it does have a full

basement like the subject. The adjustments for comps 3, 4 and 5 exceed the typical 25% total gross adjusted value range due to them being

older, not having basements and having garages. Comp 6 exceeds the 25% total gross adjustment range because it is an active listing and

active listings have a 93% list to sale price ratio in this marketing area, and because it is an older home and has a garage.

Form GPRTD2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

File No.:

SU

BJE

CT

Property Address: City: State: Zip Code:

County: Legal Description:

Assessor's Parcel #:

Tax Year: R.E. Taxes: $ Special Assessments: $ Borrower (if applicable):

Current Owner of Record: Occupant: Owner Tenant Vacant Manufactured Housing

Property Type: SFR 2-4 Family # of Units: Ownership Restriction: None PUD Condo Coop

Market Area Name: Map Reference: Census Tract: Flood HazardA

SS

IGN

ME

NT

The purpose of this appraisal is to develop an opinion of: Market Value (as defined), or other type of value (describe)

This report reflects the following value (if not Current, see comments): Current (the Inspection Date is the Effective Date) Retrospective Prospective

Approaches developed for this appraisal: Sales Comparison Approach Cost Approach Income Approach Other:

Property Rights Appraised: Fee Simple Leasehold Leased Fee Other (describe)

Intended Use:

Under USPAP Standards Rule 2-2(b), this is a Restricted Appraisal Report, and is intended only for the sole use of the named client. There are no other intended users. The

client must clearly understand that the appraiser's opinions and conclusions may not be understood properly without additional information in the appraiser's work file.

Client: Address:

Appraiser: Address:

SA

LE

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PA

RIS

ON

AP

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

Address

Proximity to Subject

Sale Price $ $ $ $

Sale Price/GLA $ /sq.ft. $ /sq.ft. $ /sq.ft. $ /sq.ft.

Data Source(s)

Verification Source(s)

VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjust. DESCRIPTION +(-) $ Adjust. DESCRIPTION +(-) $ Adjust.

Sales or Financing

Concessions

Date of Sale/Time

Rights Appraised

Location

Site

View

Design (Style)

Quality of Construction

Age

Condition

Above Grade Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths

Room Count

Gross Living Area sq.ft. sq.ft. sq.ft. sq.ft.

Basement & Finished

Rooms Below Grade

Functional Utility

Heating/Cooling

Energy Efficient Items

Garage/Carport

Porch/Patio/Deck

Net Adjustment (Total) + - + - + -$ $ $

Adjusted Sale Price

of Comparables $ $ $

Summary of Sales Comparison Approach

Copyright© 2013 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.

12/2013


219 S Kankakee St

#2014-022RESTRICTED APPRAISAL REPORT

MLS, Assessor, Will County Property Records, Tax Records and Corelogic Data.

N/A

N/A

MLS-Assessor-Corelogic

N/A

N/A

N/A

No sales or transfers of the subject were

found within the past 3 years of the appraisal. There were no additional sales or transfers of the comps

1-3 found within 1 year of their date of sale.

Based on the MLS Data for the area, marketing times and list/sale ratio information indicate a stable

marketing area within the past year of the appraisal. VA, FHA & Conventional financing are readily available. Seller concessions are noticed

in the subject's marketing area. The subject is located in the City of Wilmington which is an older area consisting of a mixture of residential,

multi-family, commercial, industrial and vacant land. The majority of the homes in this market area do not have basements.

8,712 sf Residential Level Appears Adequate

R-2 Single Family Residential

Single Family Single Family

The subject's current use as a single family residence is it's Highest and Best Use.

X 17197C0417E 09/06/1995

There were no adverse easements, encroachments or other adverse conditions noted.

The subject was in overall average condition with no repairs being noted. The subject's floor plan does not suffer from functional

obsolescence. The subject does not suffer from external obsolescence. The subject property is a one story modular ranch home built in 1991 containing

approximately 1,033 square feet with a full basement which has 1 bedroom. There are 6 rooms, 3 bedrooms and 1 bath, vinyl exterior, concrete driveway for 4

cars, newer casement and double hung windows throughout, smoke and carbon monoxide detectors, 200 amp electric service, Rheem 40 gallon water tank. At the

time of the inspection the subject property was being leased for a reported $950 a month based upon a 6 month lease.

130,000

0 0

The sales comparison approach was given the greatest weight as it best represents the attitudes of the typical purchaser in this market

area. The cost approach was considered but not utilized due to the age of the subject. Income approach was considered but not utilized as the majority of

the single family homes are generally not purchased for rental purposes in this marketing area and therefore, there is a lack of sales of single family rental

properties. THIS FORM APPRAISAL HAS THE WORD "INSPECTION" & this word should be replaced with "visually observed" or "readily observable"

as the appraiser is not an inspector & the appraisal is not home inspection.

130,000 02/07/2014

20

Scope of Work Limiting Cond./Certifications Narrative Addendum Photograph Addenda Sketch Addendum

Map Addenda Flood Addendum Aerial Map

Maria Meachum Wilmington Public Library District

[email protected] 201 S Kankakee St, Wilmington, IL 60481

Thomas A Bolhouse


(815) 727-2550 (815) 727-7067

[email protected]

02/10/2014

556.000474 IL


09/30/2015

02/07/2014

James V Smith


815-727-2550 815-727-7067

[email protected]

02/10/2014

553.001173 IL


09/30/2015

Form GPRTD2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

File No.:

TR

AN

SF

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HIS

TO

RY

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):

1st Prior Subject Sale/Transfer

Date:

Price:

Source(s):

2nd Prior Subject Sale/Transfer

Date:

Price:

Source(s):

Analysis of sale/transfer history and/or any current agreement of sale/listing:

MA

RK

ET

Subject Market Area and Marketability:

SIT

E

Site Area: Site View: Topography: Drainage:

Zoning Classification: Description:

Zoning Compliance: Legal Legal nonconforming (grandfathered) Illegal No zoning

Highest & Best Use: Present use, or Other use (explain)

Actual Use as of Effective Date: Use as appraised in this report:

Opinion of Highest & Best Use:

FEMA Spec'l Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map Date

Site Comments:

IMP

RO

VE

ME

NT

S

Improvements Comments:

RE

CO

NC

ILIA

TIO

N

Indicated Value by: Sales Comparison Approach $

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

Final Reconciliation

This appraisal is made ''as is'', subject to completion per plans and specifications on the basis of a Hypothetical Condition that the improvements have been

completed, subject to the following repairs or alterations on the basis of a Hypothetical Condition that the repairs or alterations have been completed, subject to

the following required inspection based on the Extraordinary Assumption that the condition or deficiency does not require alteration or repair:

This report is also subject to other Hypothetical Conditions and/or Extraordinary Assumptions as specified in the attached addenda.

Based on the degree of inspection of the subject property, as indicated below, defined Scope of Work, Statement of Assumptions and Limiting Conditions,

and Appraiser’s Certifications, my (our) Opinion of the Market Value (or other specified value type), as defined herein, of the real property that is the subject

of this report is: $ , as of: , which is the effective date of this appraisal.

If indicated above, this Opinion of Value is subject to Hypothetical Conditions and/or Extraordinary Assumptions included in this report. See attached addenda.

AT

TA

CH

ME

NT

S

A true and complete copy of this report contains pages, including exhibits which are considered an integral part of the report. This appraisal report may not be

properly understood without reference to the information contained in the complete report.

Attached Exhibits:

SIG

NA

TU

RE

S

Client Contact: Client Name:

E-Mail: Address:

APPRAISER

Appraiser Name:

Company:

Phone: Fax:

E-Mail:

Date of Report (Signature):

License or Certification #: State:

Designation:

Expiration Date of License or Certification:

Inspection of Subject: Interior & Exterior Exterior Only None

Date of Inspection:

SUPERVISORY APPRAISER (if required)

or CO-APPRAISER (if applicable)

Supervisory or

Co-Appraiser Name:

Company:

Phone: Fax:

E-Mail:

Date of Report (Signature):


Designation:



Date of Inspection:


12/2013


219 S Kankakee St

#2014-022

219 S Kankakee St


0

Inspection

Assessor

N/A

Fee Simple

Residential

8,712 sf

Residential

Ranch

Vinyl

23 Years

Average

6 3 1

1,033

Full Basement

1 Room

Average

Fwa/Cac

None

No Garage

None

Extras None

Extras No Fireplace

Extras None

Extras None

Extras None

911 S Kankakee St


0.59 miles S

115,000

81.91



Cash-Arms Length

No Points Pd

Cld:12/09/2013

Fee Simple

Residential

10,019 sf

Residential

Ranch

Brick -5,000

55 Years +10,000

Average

7 3 2

1,404 -7,500

No Basement +10,000

N/A +2,500

Average

Fwa/Cac

None

2 Car Garage -8,000

None

None

1 Fireplace -3,500

None

None

None

-1,500

Net 1.3 %

Gross 40.4 % 113,500

403 E Cross St


0.96 miles N

106,000

82.04



Conv-Arms Length

No Points Pd

Cld:08/23/2013

Fee Simple

Residential

9,636 sf

Residential

Ranch

Aluminum

51 Years +10,000

Average

6 3 1.0

1,292 -5,000

No Basement +10,000

N/A +2,500

Average

Fwa/Cac

None

2 Car Garage -8,000

None

Patio -2,500

1 Wood Stove -1,500

None

None

None

5,500

Net 5.2 %

Gross 37.3 % 111,500

136 Laurel St


0.28 miles S

139,900

96.48



Active Listing

93% List/Sale -10,000

Ltd:10/03/2013

Fee Simple

Residential

7,695 sf

Residential

Ranch

Stone/Vinyl -2,500

50 Years +10,000

Average

6 3 1.1 -1,500BA

1,450 -8,500

Full Basement

Unfinished +2,500

Average

Fwa/Cac

None

1 Car Garage -4,000

None

None

1 Fireplace -3,500

None

None

None

-17,500

Net 12.5 %

Gross 30.4 % 122,400

See page 1 of this GP Restricted Use Form for comments.

Form GPRTD2.(AC) - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

4 5 6

File No.:

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FEATURE SUBJECT COMPARABLE SALE # COMPARABLE SALE # COMPARABLE SALE #

Address

Proximity to Subject

Sale Price $ $ $ $

Sale Price/GLA $ /sq.ft. $ /sq.ft. $ /sq.ft. $ /sq.ft.

Data Source(s)

Verification Source(s)

VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjust. DESCRIPTION +(-) $ Adjust. DESCRIPTION +(-) $ Adjust.

Sales or Financing

Concessions

Date of Sale/Time

Rights Appraised

Location

Site

View

Design (Style)

Quality of Construction

Age

Condition

Above Grade Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths

Room Count

Gross Living Area sq.ft. sq.ft. sq.ft. sq.ft.

Basement & Finished

Rooms Below Grade

Functional Utility

Heating/Cooling

Energy Efficient Items

Garage/Carport

Porch/Patio/Deck

Net Adjustment (Total) + - + - + -$ $ $

Adjusted Sale Price

of Comparables $ $ $

Summary of Sales Comparison Approach


12/2013

Digital Signature Addendum

"The software programs used to transfer the report electronically to the client provide digital signature security features for theappraiser signing the report. In the process of transferring the report to the client, the appraiser that has signed (affixed anelectronic signature) to this report has ensured that the signature was protected and the appraiser maintained control of thesignature. Electronically affixing a signature to a report carries the same level of authenticity and responsibility as an originalink signature on a paper copy report. Per Fannie Mae guidelines in Section 203, a lender/client may accept an appraisal reportthat is transmitted electronically. The lender/client is to represent and warrant to Fannie Mae that the appraisal report wascreated by the appraiser identified on the appraisal report and that the appraisal report is the complete and unaltered reportsubmitted by the identified appraiser."

ENVIRONMENTAL DISCLAIMER:

The Appraiser is not an expert in the field of environmental hazard assessment and the presence of any such hazard cannot beconfirmed or denied. If further information is desired regarding any environmental concerns, including but not limited to leadbased paint, radon, asbestos, site or water contamination, etc., it should be gathered from a qualified source.

Fannie Mae Addendum to the New Forms

Precedence of Comments and Conditions

This report may contain comments, conditions, and/or certifications added by the signing appraiser and/or James V. Smith andAssociates including, but not limited to, this Supplemental Addendum. These items shall supersede and take precedence overall other language, requirements, or conditions contained in any preprinted and/or third-party forms or documents included in,or incorporated by reference into, the appraisal report.

Ownership of Intellectual Property and/or Data

James V. Smith & Associates expressly retains all right, title, and interest in all patents, trademarks, trade names, tradesecrets, software, data, conclusions, opinions, valuations, or other information included in, arising out of, or in any way relatedto this appraisal or the provision of appraisal services to the named client and/or Intended User. The report and informationsupplied by the staff and/or agents of lender/client listed in this appraisal report is a culmination of intellectual education,professional experience, personal investigation, and know-how, which shall at all times remain the property of the lender/clientlisted in this appraisal report. No person shall be entitled to break down, strip out, mine, or disseminate any component or partof this report, including, but not limited to, any conclusions, valuations, opinions, or other data compilations herein.Notwithstanding, the Intended User as defined below may use this appraisal report and the contents herein for the limitedpurpose and use identified below.

The Intended Users

The Wilmington Public Library District is the "Intended User" of this appraisal report with the following additional intended user:Maria Meachum. This appraisal report is for the sole use and benefit of the Intended User for the limited purpose and functionstated below, and no other person/entity shall be entitled to rely on this appraisal without prior written consent from James V.Smith & Associates. Further, by accepting and using this appraisal report, the Intended User acknowledges and agrees thathe/she/it shall not, except as otherwise required or permitted law, disseminate or otherwise disclose this appraisal report or thecontents or components thereof to any person or entity without prior written consent from James V. Smith & Associates.

The Purpose and Intended Use of the Appraisal Report

The purpose of this appraisal report is to establish a market value for the fee simple interest of the subject property as of thedate of this appraisal. The intended use of the appraisal report is to establish the current market value of the subject propertyfor possible negotiating purposes. Scope & Function

The scope of this assignment is to inspect the above mentioned property, determine, collect and confirm the necessary andpertinent market data needed to report a logical conclusion. The appraisers tried to conform to the Appraisal Foundationsstandards to the best of their ability.

Function of the appraisal is to assist the Wilmington Public Library in evaluating the subject property for possible negotiatingpurposes.

Exposure/Marketing Time - Exposure Time/Marketing time of the subject property at the appraised value is 3-6 months.

Additional Comments This appraisal is subject to all attached forms and addendum's. The appraisal assignment was not based on a minimum valuation, a specific valuation or the approval of a loan.

Definition of Market Value - the most probable price which a property should bring in a competitive and open market under allconditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, with no undue stimulus.Implicit in this definition is the consummation of a sale as of a specified date and the passing of the title to the buyer underconditions whereby: 1: Buyer & seller are typically motivated, 2: Both parties are well informed or well advised, and acting in what they consider their best interest, 3: A reasonable time is allowed for exposure in the open market, 4: Payment is made in terms of cash in U.S. dollars or in terms of financing arrangement comparable thereto, 5: The price represents the normal consideration for the property sold unaffected by special or creative financing or saleconcessions granted to anyone associated with the sale. *** This definition is from Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as adoptedAugust 24, 1990.


Supplemental Addendum

Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

#2014-022


219 S Kankakee St



Borrower

Client

Property Address


File No.

August 24, 1990.

Personal Property

There was no personal property included in this appraisal report. COMMENTS ON THE SUBJECT BEING IN A FEMA NATURAL DISASTER AREA

The subject is located in an area that was declared a natural disaster area on April 18, 2013, the subject property was notaffected by this and therefore, there is no negative impact on the marketability and or market value of the subject property.There have been no indications of physical damage to the property or neighborhood, no needed repairs to the site orimprovements other than those indicated in the original appraisal report, and no adverse effect on the marketability and valuedue to the recent flooding in this county.


Supplemental Addendum

Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

#2014-022


219 S Kankakee St



Borrower

Client

Property Address


File No.


Form PIC3x5.SR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Subject Photo Page


219 S Kankakee St



Subject Front

Sales Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

219 S Kankakee St

0

1,033

6

3

1

Residential

Residential

8,712 sf

Vinyl

23 Years

Subject Rear

Street Looking South

Borrower

Client

Property Address



Form PICSIX2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Photograph Addendum


219 S Kankakee St



STREET SCENE LOOKING NORTH LIVING ROOM

DINING ROOM KITCHEN

BATH BEDROOM

Borrower

Client

Property Address



Form PICSIX2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Photograph Addendum


219 S Kankakee St



BEDROOM BEDROOM

BASEMENT BEDROOM UNFINISHED BASEMENT

Borrower

Client

Property Address



Form PIC3x5.CR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Comparable Photo Page


219 S Kankakee St



Comparable1

Prox. to Subject

Sales Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

1411 Charlotte St

0.99 miles NW

129,900

1,000

5

3

1

Residential

Residential

10,125 sf

Vinyl

13 Years

Comparable2

Prox. to Subject

Sales Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

922 Judy Dr

1.07 miles SE

153,000

1,320

5

3

1

Residential

Residential

11,250 sf

Vinyl

21 Years

Comparable3

Prox. to Subject

Sales Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

1208 Park Dr

0.91 miles S

110,000

1,036

6

3

1.1

Residential

Residential

10,164 sf

Vinyl

50 Years

Borrower

Client

Property Address



Form PIC3X5.CR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Comparable Photo Page


219 S Kankakee St



Comparable 4

Prox. to Subject

Sale Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

911 S Kankakee St

0.59 miles S

115,000

1,404

7

3

2

Residential

Residential

10,019 sf

Brick

55 Years

Comparable 5

Prox. to Subject

Sale Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

403 E Cross St

0.96 miles N

106,000

1,292

6

3

1.0

Residential

Residential

9,636 sf

Aluminum

51 Years

Comparable 6

Prox. to Subject

Sale Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

136 Laurel St

0.28 miles S

139,900

1,450

6

3

1.1

Residential

Residential

7,695 sf

Stone/Vinyl

50 Years

Borrower

Client

Property Address



Form SKT.BLDSKI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Building Sketch


219 S Kankakee St



Borrower

Client

[1033.2 Sq ft]42'

24.6

'

42'

24.6

'

First Floor[1033.2 Sq ft] 42'

24.6

'

42'

24.6

'

Basement

Living

KitchenDiningBathBedroom

Bedroom BedroomBedroom

Unfinished Basement Area

TOTAL Sketch by a la mode, inc. Area Calculations Summary

Living Area Calculation Details

First Floor 1033.2 Sq ft 42 × 24.6 = 1033.2

Total Living Area (Rounded): 1033 Sq ft

Non-living Area

Basement 1033.2 Sq ft 42 × 24.6 = 1033.2

Property Address



Form MAP.FLOOD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Flood Map


219 S Kankakee St



Borrower

Client

Property Address



Form MAP.LOC - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Aerial Map


219 S Kankakee St



Borrower

Client

Property Address



Form MAP.LOC - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Location Map


219 S Kankakee St



Borrower

Client

Property Address



219 S Kankakee St

#2014-022Assumptions, Limiting Conditions & Scope of Work219 S Kankakee St Wilmington IL 60481



STATEMENT OF ASSUMPTIONS & LIMITING CONDITIONS

- The appraisers will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The appraisers assumes that the title is

good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis of it being under responsible ownership.

- The appraisers may have provided a plat and/or parcel map in the appraisal report to assist the reader in visualizing the lot size, shape, and/or orientation. The appraisers

have not made a survey of the subject property.

- If so indicated, the appraisers has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources)

and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the appraisers are not surveyors,

he or she makes no guarantees, express or implied, regarding this determination.

- The appraisers 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.

- The appraisers have noted in the appraisal report any adverse conditions (including, but not limited to, the presence of hazardous wastes, toxic substances, etc.) observed

during the inspection of the subject property, or that he or she became aware of during the normal research involved in performing the appraisal. Unless otherwise stated

in the appraisal report, the appraisers have no knowledge of any hidden or unapparent conditions of the property, or adverse environmental conditions (including, but not

limited to, the presence of hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and have assumed that there are no such

conditions and makes no guarantees or warranties, express or implied, regarding the condition of the property. The appraisers will not be responsible for any such

conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraisers are not an expert in the

field of environmental hazards, the appraisal report must not be considered as an environmental assessment of the property.

- The appraisers obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and

believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by other parties.

- The appraisers will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice, and any

applicable federal, state or local laws.

- An appraiser's client is the party (or parties) who engage an appraiser in a specific assignment. Any other party acquiring this report from the client does not become

a party to the appraiser-client relationship. Any persons receiving this appraisal report because of disclosure requirements applicable to the appraiser's client do not

become intended users of this report unless specifically identified by the client at the time of the assignment.

- The appraiser's written consent and approval must be obtained before this appraisal report can be conveyed by anyone to the public, through advertising, public relations,

news, sales, or by means of any other media, or by its inclusion in a private or public database. Possession of this report or any copy thereof does not carry with it the right

of publication.

- Forecasts of effective demand for the highest and best use or the best fitting and most appropriate use were based on the best available data concerning the market and are

subject to conditions of economic uncertainty about the future.

The Scope of Work is the type and extent of research and analyses performed in an appraisal assignment that is required to produce credible assignment results, given the

nature of the appraisal problem, the specific requirements of the intended user(s) and the intended use of the appraisal report. Reliance upon this report, regardless of how

acquired, by any party or for any use, other than those specified in this report by the Appraiser, is prohibited.

The Opinions of Value that is the conclusion of this report is credible only within the context of the Scope of Work, Effective Date, the Date of Report, the Intended User(s), the

Intended Use, the stated Assumptions and Limiting Conditions, any Hypothetical Conditions and/or Extraordinary Assumptions, and the Type of Value, as defined herein.

The appraisers, appraisal firm, and related parties assume no obligation, liability, or accountability, and will not be responsible for any unauthorized use of this report or its

conclusions.

Form GPRTD2AD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

File No.:


Client: Address:

Appraiser: Address:


12/2013


219 S Kankakee St

#2014-022Certifications219 S Kankakee St Wilmington IL 60481



APPRAISER'S CERTIFICATIONWe certify that, to the best of my knowledge and belief:- The statements of fact contained in this report are true and correct.- The credibility of this report, for the stated use by the stated user(s), of the reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are our personal, impartial, and unbiased professional analyses, opinions, and conclusions.- We have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved.- Unless otherwise indicated, We have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment.- We have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment.- Our engagement in this assignment was not contingent upon developing or reporting predetermined results.- Our compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal.- Our analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice that were in effect at the time this report was prepared.- We did not base, either partially or completely, our analysis and/or the opinion of value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property, or of the present owners or occupants of the properties in the vicinity of the subject property.- Unless otherwise indicated, We have made a personal inspection of the property that is the subject of this report.- Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification.

DEFINITION OF MARKET VALUE *:Market value means the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:1. Buyer and seller are typically motivated; 2. Both parties are well informed or well advised and acting in what they consider their own best interests; 3. A reasonable time is allowed for exposure in the open market;4. Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and 5. The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. * This definition is from regulations published by federal regulatory agencies pursuant to Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989 between July 5, 1990, and August 24, 1990, by the Federal Reserve System (FRS), National Credit Union Administration (NCUA), Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), and the Office of Comptroller of the Currency (OCC). This definition is also referenced in regulations jointly published by the OCC, OTS, FRS, and FDIC on June 7, 1994, and in the Interagency Appraisal and Evaluation Guidelines, dated October 27, 1994.

Maria Meachum Wilmington Public Library District

[email protected] 201 S Kankakee St, Wilmington, IL 60481

Thomas A Bolhouse


(815) 727-2550 (815) 727-7067

[email protected]

02/10/2014

556.000474 IL


09/30/2015

02/07/2014

James V Smith


815-727-2550 815-727-7067

[email protected]

02/10/2014

553.001173 IL


09/30/2015

Form GPRTD2AD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

File No.:


Client: Address:

Appraiser: Address:

SIG

NA

TU

RE

S

Client Contact: Client Name:

E-Mail: Address:

APPRAISER

Appraiser Name:

Company:

Phone: Fax:

E-Mail:

Date Report Signed:


Designation:



Date of Inspection:

SUPERVISORY APPRAISER (if required)

or CO-APPRAISER (if applicable)

Supervisory or

Co-Appraiser Name:

Company:

Phone: Fax:

E-Mail:

Date Report Signed:


Designation:



Date of Inspection:


12/2013

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