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Supplemental Addendum <br />File No. 12SEP19D <br />Page #4I <br />Client City of Ramsey <br />Property Address Unassigned <br />City Ramsey <br />County Anoka <br />State MN <br />Zip Code 55303 <br />Lender/Client City of Ramsey <br />• Market Data <br />Due to a lack of recent sales in the pool of available data in the immediate neighborhood, <br />some comparables are located across man made or natural boundaries. Markets are similar <br />however a 10% location adjustment is made on comparable three as a result of distance <br />from local and regional commerce. Comparables for the subject were dominated by short <br />sales and bank owned 'reo' sales. The number of these types of sales has impacted the <br />market value of all unimproved lots/land in this area. The use of these sales is reasonable <br />as they have become a major influence on the value of the subject property. A 10% <br />adjustment is made one comparable three for the stigma associated with a foreclosed bank <br />owned sale. Comparable selection was made by choosing sales which have the most similar <br />physical characteristics to the subject. A visual inspection was performed as part of the <br />scope of work for this assignment. The comparables are located in similar rural/suburban <br />settings. Most weight is place on comparables one and two. <br />Form TADD — "WinTOTAL" appraisal software by a la mode, inc.— 1-800-ALAMODE <br />