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<br />IFile No, 2006-0131 Paoe #151
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<br />APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees thaI:
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<br />1, I have researched the subject market area and have selected a minimum of three recent sales of properties most simiiar and proximate to the subject property
<br />for consideration in the sales comparison analysis and have made a doilar adjustment when appropriate to refiect the market reaction to those items of significant
<br />variaijon, ~ a significant item in a comparabie property is superior to, or more favorable than, the subject property, I have made a negative adjustment to reduce
<br />the adjusted sales price of the comparable and, if a significant item In a comparable property is inferior to, or less favorabie than the subject property, I have made
<br />a positive adjustment to increase the adjusted sales price of the comparabie.
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<br />2, I have taken into consideration the factors that have an impact on vaiue in my development of the estimate of market value in the appraisal report, I have not
<br />knowingly withheld any significant informaijon from the appraisal report and I believe, to the best of my knowiedge, that ail statements and information in the
<br />appraisal report are true and correct
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<br />3, I stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the contingent
<br />and limiijng conditions specified in this form,
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<br />4, I have no present or prospective interest in the property that is the subject to this report, and i have no present or prospective personal interest or bias with
<br />respect to the participants in the transaction, I did not base, either partiaily or compieteiy, my analysis and/or the estimate of market vaiue in the appraisal report
<br />on the race, coior, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present
<br />owners or occupants of the properties in the vicinity at the subject property,
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<br />5, I have no present or contemplated future interest in the subject property, and neither my current or future empioyment nor my compensation for pertorming this
<br />appraisal is conijngent on the appraised value of the property,
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<br />6, I was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the amount of the value esijmate,
<br />the attainment of a specific resuit, or the occurrence of a subsequent event in order to receive my compensation and/or employment for pertorming the appraisal. I
<br />did not base the appraisal report on a requested minimum valuation, a specific valuation, or the need to approve a specific mortgage ioan,
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<br />7, I pertormed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisai
<br />Standards Board of The Appraisal Foundaijon and that were in place as of the effective date of this appraisal, with the exception of the departure provision of those
<br />Standards, which does not apply, I acknowiedge that an esijmate of a reasonable time for exposure in the open market is a condition in the definition of market vaiue
<br />and the esijmate I developed is consistent with the marketing ijme noted in the neighborhood section of this report, unless I have otherwise stated in the
<br />reconciliation section,
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<br />8, I have personaily inspected the interior and exterior areas of the subject property and the exterior of ail properties listed as comparables in the appraisai report.
<br />I further certify that I have noted any apparent or known adverse conditions in the subject improvements, on the subject site, or on any site within the immediate
<br />vicinity of the subject property of which i am aware and have made adjustments for these adverse conditions in my analysis of the property value to the extent that
<br />J had market evidence to support them. I have also commented about the effect of the adverse conditions on the marketability of the subject property,
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<br />9, I personaily prepared ail conclusions and opinions about the real estate that were set forth in the appraisal report, If I relied on significant professional
<br />assistance from any individual or individuals in the pertormance of the appraisal or the preparaijon of the appraisal report, I have named such individual(s) and
<br />disclosed the specific tasks pertormed by them in the reconciliation section of this appraisal report, I certify that any individual so named is qualified to pertorm
<br />the tasks, I have not authorized anyone to make a change to any item in the report; therefore, if an unauthorized change is made to the appraisai report, i will take
<br />no responsibility for it,
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<br />SUPERVISORY APPRAISER'S CERTIFICATION: ~ a supervisory appraiser signed the appraisal report, he or she certifies and agrees thaI:
<br />I directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report, agree with the statements and conclusions of the appraiser,
<br />agree to be bound by the appraiser's certifications numbered 4 through 7 above, and am taking fuil responsibility for the appraisai and the appraisal report.
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<br />ADDRESS OF PROPERTY APPRAISED:
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<br />Comanche Creek Rd - Vacant Land - LeQal attached, Kiowa, Colorado 80117
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<br />APPRAISER:
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<br />SUPERVISORY APPRAISER (only if required):
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<br />Signature: ~ ~_
<br />Name: Cle r6i zQer
<br />Date Signed: June 13, 2006
<br />State Certificaijon #: CRO 1316322
<br />or State License #: CRO 1316322
<br />State: CO
<br />Expiration Date of Certification or License: 12/31/2008
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<br />Signature:
<br />Name:
<br />Date Signed:
<br />State Certification #:
<br />or State License #:
<br />State:
<br />Expiraijon Date of Certification or License:
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<br />o Did 0 Did Not Inspect Property
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<br />Freddie Mac Form 439 6-93
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<br />Page 2 of 2
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<br />Fannie Mae Form 10048 6-93
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<br />Form ACR - "WinTOTAL" appraisai software by a la mode, inc, -1-800-ALAMODE
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