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<br />AGRICULTURAL APPRAISAL REPORT
<br />-...-.,.-."" . "USPAP" .
<br />Ninth Farm Cradit Dislrlct
<br />
<br />Summary Appraisal Report
<br />
<br />APPLICANT David L. Gann LOAN NO. 2381510
<br />ASSOCIATION FLBA OF SOU'I1lWEST COLORADO MONTROSE lIDQ. ASSOCIATION NO. 56800
<br />APPRAISER NAME Tim E. Whitener
<br />USE OF APPRAISAL Mortgage Lending _ Fslmate of Current Market Value.
<br />RIGHTS APPRAISED IE Fee Simple D Facility Equipment D Fractional
<br /> o leased Fee D Irrigation EquIpment D Minerai _%
<br /> o leasehold lID Water Rights D life Eslate
<br />\, fXI Surface Rights D Government land Lease D Other (attach)
<br />
<br />1. County: ~
<br />{~
<br />
<br />Montrose
<br />(CDunt~Nam.)
<br />
<br />2. State: f'ii]
<br />~J
<br />
<br />Colorado
<br />(:stat. Nama,
<br />
<br />3. legal description:
<br />
<br />Section Em!
<br />
<br />Township lli!ill [!!:J
<br />(NorS)
<br />
<br />Range (2ill] [Nll
<br />(EDlIN)
<br />
<br />See oaqe 5 of the narrative for the exact leqal description.
<br />
<br />A~eh County gravel silver Springs road off County paved Marine Drive.
<br />
<br />Optional:
<br />
<br />Rainfall
<br />
<br />I.
<br />(inCheS)
<br />
<br />Elevation
<br />
<br />5,800 Season
<br />{Feetl
<br />5. Area class: rr1
<br />Irr,-,j
<br />
<br />14.
<br />(Days)
<br />6. Security class: m
<br />,troll,
<br />
<br />4, Sfgnllicant non-farm inlluence on value: E!J
<br />
<br />O-None
<br />1-CommerclaHndlletrlal
<br />2-Ruldentlal
<br />
<br />a-Recreallonal
<br />a-Comblnatlon
<br />I-Mlnerat.
<br />
<br />7, Security Type: ~
<br />25-Faclllty
<br />2B-Dlverellledlarm
<br />33-trrlgatedfleldcropl
<br />34-Non~lrrloated Iletd Cl'Op.
<br />3S-Genaraldalry
<br />
<br />Products produced: 8, Primary l!!!]
<br />
<br />9. Secondary Ill!!
<br />
<br />3B-Drylotdalry
<br />37-Poutlry
<br />41-Rangllellttle
<br />Other-seelnalnlctlona
<br />
<br />l"-Wheat
<br />115-Corn
<br />114-S0r\lhum
<br />lal-Cotton
<br />116-Soybeans
<br />13S-HayCrops
<br />
<br />223-COWellll
<br />224-Slaughlercattte
<br />222-Slockersgrazlng
<br />221-Stockersbackgrollndfng
<br />233-Slallghterholl'
<br />232-Feederpfga
<br />Oth.r-aulnatructlons
<br />
<br />10. Uveslock or poUltry facility capacity:
<br />
<br />17~~'~dll 11. Uvestock capacity: I~.:;"-".,, I (Year round basls--Totaf AUMS';'12)
<br />13, Type of lease: [!S] 2-BLM a-Grazing anoc,
<br />3-Forllstservlce a-Combination
<br />4-State
<br />
<br />12, Percent capacity on lease: EEl %
<br />(Attach Form 16031
<br />
<br />14. Tolal acres: 13jH;:,,:~,'.,1
<br />Breakdown of acres:
<br />
<br />15. Permanent pasture: 11,,;::~-<::,.,;:,:1
<br />
<br />16, Cultivatable: 1,;,.,;:-- ',-_" ',oY:~ I
<br />
<br />17. TOlalland ItO},:",,-,',.,1
<br />lrrlgaled: (Attach Form 18111
<br />
<br />18. Netln~mel.90l48Z-::<.>i}:1
<br />
<br />20, Dwelllng-I1904--l
<br />YearbulU
<br />
<br />CONTRI B UTORY VAL U E (NEAREST $100)
<br />21. I:. ;103,QOO;, ,:.: I
<br />
<br />19. Cap Rale US~O!).d
<br />
<br />22. Contributory value of all bUildings:
<br />
<br />$ h)'.';?OOf .Fd
<br />
<br />The Appralser(s) certllles and agrees that:
<br />
<br />1. The AppraIser has no present or contemplaled future Interesl In the property appraised; and neJther the employment for the appraisal nor
<br />compensation for It Is contingent upon the appraised value of the property,
<br />2, The Appraiser has no personal Interest In or bias with respect to the subject of the appraisal report or the particIpants to the sale or In the
<br />property appraised. The "estimate of value" Is not based In whole or In part upon the race, COIOf, or national origin of the prospective owners
<br />or occupants of the property appraised, or upon the race, color, or national origin of lhe owners or occupants of the properties In the vicinity of
<br />the property appraised.
<br />3, The Appraloor has Inspecled the subject property and documented the sales In the report. To the best of the Appraisers' knowledge and
<br />beilef, all statements and Information In thIs report are true and correct, and the Appraiser has not knowingly withheld any slgnlllcanl
<br />information which would have an Impact on valuation.
<br />4, Ali contingent ant: IIm1Ung condtlor~:l."3 con!roned hAretn.
<br />5. This appraisal report and the valuation process has been made In conformity with the requirements of lite vOlllarm Gta;ldc:.:d:! =f ~~~!es!!!')!'!
<br />Appraisal Practice and the Code of the Ninth Farm Credit District Ethics and Standards,
<br />6. All conclusIons and opinions concerning the real estate that are set forth In the appraisal report, along with the analysis of relevanl data, were
<br />prepared by the Appraiser whose signature appears on the appraisal report,
<br />7. The Appraiser's compensation Is not contingent upon the reportfng of a predetermined value or direction In value that favors the cause of the
<br />client, the amount of the value estimate, the attainment of a stipulated result, or the occurrence of a subsequent event.
<br />
<br />See oaae 3 of ~h8 narrah~v8 for the certification.
<br />
<br />In addlUon to the pial, the followlng supplements are a part of this appraisal:
<br />Saua~e Foot Ad~u8~ent Porm. SaleB Grids. Water VerificationPorm.
<br />Sales Descrin~~on Paa.s. Attorn.VB On!nion. Location Man and Photo Paaes;
<br />Value Dellnltlon: Mark.t valli' I. th. /nOlt problbl. prlce,ln tarma of money which I propertyahollht bring In In op.n and comp.tltlva mlrkelllnd,r all 'condltlona reqlllsit. I
<br />talr.al.,th.buytrandIlU.rllo".ctln\lprudaatlytndknowl.dgaablytndaUlImln\lth.prletltnota".ot.dbYllndll.t1ImllJua, . '-;"
<br />006022
<br />
<br />_ 23,"Asls"$I.'--C.'SO,ooo,.-<'__.. I 24. "As will be" $1 .,
<br />
<br />25, Date apprdaad: 1.0;.'""1\;1".5,,::, I . . ~;:;;;;,: ~ .a:{~ 1(' 26. Appraiser's Coda: 1341:.: I'
<br />( (Appralter) "'8'" '" "', ;.Ii ",A. -State ID: CGOOOO17li8
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<br />pag'l
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