Agenda - Council - 04/10/2007 - Laserfiche WebLink

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Ii1letlD Um:ll~~UI Unrrorm Residential Appraisal Report RAMSEY FiIe#07FEB22D APPRAISER'S GERTJAGATJON: The Appraiser certifies and agrees that: , ,. I have. at a minimum, developed and reported this appraisal' in accordance with the scope of work requirements stated in this appraisal report. ' 2. I pelformed a complete visual inspection oj the interior and exterior areas of the subject property. I reported fhe condition of the Improvements in factual. speCific terms.) identiflecl and reported the physical deficiencies that could affect the livabilily,soundness. or structural integrlty of the property. 3. I pel10rmed this appraisal in accorllance with the requirements of the Uniform Standards of Professional Appmisal Prat:tice thai were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 4. I Developed my opinion of the market value of the real property that is tne subject of this report based on the sales comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach tor this appraisal assignment I further certilythatl considered the cost and income approaches to value but did noldevelop them, unless 'otherwise indicated in this report. 5. I researChBd,vertfled. analyzed, and reportell"on any current agreement tor sale for the subject property, anyalteringfDr sale of Ihe subject property in the twelve mOfTths prior to the effectlve date 01 this appraisa I. and the prior sales oftlle subjBt:t property for a minimum of three yeam prior to the effective date of this appraisal, unless ottlerwise indicated in this repllrt. 6. I researched, verified. analyzed, and reported on the prior sales 1lI the comparable sales for a minimum of one year prior _ to the date of sale 1lI the'comparable sale, unless otherwise indicated In this report. 7. I sellict&tlandusell comparable sales that are locationally. physically, andfunctlonallythe mosts imilartothesubleclproperty. 8. '1 have not used comparable sales that were the resuR of combining a land sale with the contract purcllase price aI a home that lias been buitt or will be buill on the land. 9. I have reponed adjustments to the comparable sales ttJatrellecl the market's reaction to the rjjfferences betWeen the subject' property andlhe compalable sales. 10. t verified. trom a Qisinterestell sou me. all infolTllation in this repOl1. fila! was provided by parties who have a financial imeres! in the sale or financing of the subjec:t property. 11. I have knowleDge and experience in appraising this type 1lI property In this market area. 12. I am aware of, and have access to,the necessary and appropriate public and private-dataSOUfCes. such as multiple listing services.taxassessmentrecords,publiClandrecornsandolhersuchllatasOUmesfortheareain wllich the property is located. 13.lotrtainedtheintorma1lon,es1imates,andOlinjanstumlshedbyathef~Sal\dexpressetlin\hisappraisalrepolllrorn re\iable sources IlIat I believe to be troe anll correct 14. I have taken into consideration tile factors that have an impact on value with respect to tile subject neighborhood. subject property. and the proximity at the subject property to adverse influences in the deveJapment of my opinion 01 marlret value. I have noted in tIlis appraisal repM any allvllfSe conditions (such as,'but nollimitetl to, needed repaim.lIeterioration. the presence ofhazartlous wasles. toxic substances, allverse environmental conditions, etc.) observed durin!! the inspection of the subject property orlhat I becalTre aware Of during the research involved in pertormingthiS appl'llisal.1 have conSidered these adverse condilions in my analysis nf Ihe property value. and have reported on the effecl 01 the condilions on Ihe value anD . rnarketa?Uity 1lI the subiect property. 15. I have not knowingly withheld any Significant information from lhiS appraisal report and, tolhe best 1lI my knowledge, all statern!ll1lS and infonnation inthls appraisal report are true and correct 16. I stated in thiS'appraisal report my own personal, unblased. and pralesslonal atl3lys'is, opinions. and conclusions. WIllch are subject only 10 the assumptions and limiting canditions in thjs appraisaf report. . 17. Ihavenopresentorprospectiveinterestintlleprope~thatislhesub\malU'lisreport,anlllhavenopresent or prospeclivepersonal interest or bias wilh respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or opinion of marlret value in this appraisal report on the race. color, religion, sex, age. marital status, handicap. familial status. or national origin 1lI either the prospective ownem or occupants of the subject property or of the present owners or occupants 01 the properties in llIe vicinity of the subject property or on any otller basis prohibited bylaw. 18. My employment and/or compensation tor performing thiS appraisal. or any future or amicipated appraisals was not conditioned on any agreement or understanding. written or otherwise, thai I would report (Dr present analysis supporting) a predetermined specific value. a predBlermined minimum value, a range or dil'8t:tion in value, a value thai favors the cause of any party,orlhe attainrnemlll a specific result or occurrence of a specffic subsequent event (such as approval of a pencling mortgage loan application). 19. I personaJlypreparedall conclusions and opinions aboulthe real estate that were setlarlh lnthis appraisal report. III reliell on slgnificant real property appraisal assistance from any incllvidual or individuals in the pelfonnance 1lI ttlis appraisal orlhe preparation of this appraisalr6Port.lhavenamed such indlvidual(s) and disclosed Ihe specific tasks pelfonnB{j inthls appraisal report. I certity that any individual sa named is qualified to pelfofTTl ttle tasks. I have OIl! authoriZed anyone to make a change to any item in this appraisal report therelore, any change made to this appraisal is unauthoriZeD and I will tak:e no responslbllltylorit. , ,I ., , , , 'j i J j ., i , j 2(l. I identifiell the lender/cliem in this appraisal report who is the individual. organization. or agent fortIW organization ttlat orclered and will receivethls appraisal report. Freddie Mac FOJlll 70 March 2005 Page5of6 Fannie Mae FOJlll 10(l.ll March 2005 Foonl004--WInTOTA!.'a!lPratsalsoltwar~bylt!mlldl.inc.-1.8OQ-Al.AMOllE -179-