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<br />UNIFORM RESIDENTIAL APPRAISAL REPORT 95/10/2
<br />V duedonsection FueNo. Summer Ne ort I
<br /> ESTIMATED SRE VALUE . None .... .. = S - 0 - Commenb on Gost Approach (such as, source of cost estlmab, site value,
<br /> ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS: square loot cakutatlon and for HUD. VA and fmRA, the estimated rlr~alnlrN I`! .
<br /> bwamnp 1.055 Sq. FL (9i = S 24.700 economk Ilte of the property): _
<br /> 30 Sq. FL ®S 5.40 - 162 Site value is based on review of recent
<br /> = See Addenda - 3.315 vacant land sales.
<br /> • GaoperCarport _ Sq. FL pS =
<br /> ' TohlEetlmabdCoslNew .. ........ ..... ...=3 28.237 Cost develo ed from Marshall and Swift
<br /> Lese Plryskat wnctlonal Exbmat 4aluation Service verified b a raiser
<br /> " Deprxbtldn ~ ~ =S files and local cost data.
<br /> DepnxlabdValueollmproremenb ................ ...... =S 28 237
<br /> •Ad•b•valueetslbtmproJemerrb =s 5 000 Ph sical de reciation is based on a e/life
<br /> INDICATEDVRLUEBYCOSTAPPflOACH ............. ... .. =S 33 23 1 method.
<br /> REM' SUBJECT COMPARABLE N0.1 COMPARABLE N0.2 COMPARABLE N0.3
<br /> NE4SW4,Sec.20,Twp13S SW4NE4,Sec.18,Twp 1 Sec.29. Twp 51N Sec.24.Twp.50N, Rge
<br /> Andreae Somerset 45 R e B7W R e 4W 3.5E
<br /> Pmdml toSnD t ~:°"pia'~~s~a~='f"`?`i'ii'-"~~~: Crested Butte Bi Soa Park Mclnt re Gulch
<br /> SabsPrke S >~':a~°fi``="t~"':-'-:?s 87 000 S 34 700 'S 65 000
<br /> Pdc mseLhln Arm S ~ 54.38 ~ ±'a;~rSE=.~~~#< S 48.19 ~ ''.::''::!':;:<::: S 43.39 ~ `rl;:::':':::;.
<br /> DabandPor Client Public Records Public Records Public Records
<br /> vamcatlonsource Ins ection A raiser Count Count
<br /> VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION ' + - S Ad ust DESCRIPTION + - f Ad~ust DESCRIPTION ' + - S Ad'ust
<br /> SaborFlnanclnp ~ nknown
<br />
<br /> DabolSa Ime ~~~':~~~~i.?"~I'=: 9/94 1/95 3/94
<br /> Location Lone Pine G Anthracite R' Bi Soa Pk McIntyre G, ;
<br /> Leasetlotl aesim b Fee Fee Fee Fee
<br /> sib Not a licab 40 Acres+- '-40 000 3 Acres+- -10 000 7 Acres+- -10.000
<br /> vwr' Goad Good Avera a Avera e
<br /> Des nandA eat Cabin Cabin Cabin Cabin
<br /> OuaS oiDombuctron Mtl/MtllAv FrmlMtl/Av Frm/Mtl/Av FrmlMtllAv
<br /> Ae One ear 9 Years 17 Years 13 Years
<br /> Condttlen Avera a Avera a Avera a Avera e
<br /> AIImeGnde Tobl ~Bdrms~ Baths Total ~Bdrtns~ BaCls Tobl ~Bdrms~ Baths ToblTBdrms~ Baths '
<br /> Room Count 6'4 '1 2 2 1 3 2 1 5 2 1
<br /> ' Gmss LNI Area 1 055 5 . Ft 1 600 S . Ft ' -13 625 720 S . Ft ' +8 315 1 498 S . Ft ' -11.075
<br /> ' BasementBFlnbhed None None None None
<br /> - RoomaBebwGrade None Hone None None
<br /> WnctlonalUtl 48d 18th 2Bd 18th 2Bd 18th 2Bd 18th
<br /> Heat ootl SirRd/Wood/A Wood/Av Wood Stove Wood
<br /> - Ene Emclentlbms Ihsl/Av Unknown Insl/AV Insl/Av9. ~.
<br /> Gan a ort None None None None
<br /> Porch,Patlo,Deck Yes None Yes Yes
<br /> Fl faces ea. Wood Stove Wood Stove Wood Stove Wood Stove
<br /> Farce etc. None None None None
<br />
<br /> Nand. a
<br />,.......:.< ..c.~..~.. + -'s 53 625 + -'s 1 625 + -'s 21 075
<br /> Adlusbd Sabs Pdce :::.::~ .,:.~:;~,:..:.~:~k..,.,,,.:
<br />:::.::; ...s..
<br />:
<br />.
<br />
<br />
<br />.:::::::.:.:: <.:.
<br /> of Com arabb .
<br />...::3:::~.,..:;M.,:..<,,c:: :~~<,.:,:,,..,.::.,:::.~.s;,:t: s 33 375 <._."::' .<:?<.; '!!; s 33 075 ~;.1<:"•:.' :::::;::: 5 43 925
<br /> Comments on Saks Compadson pnchdlrp me eublect property's campatlbitltymtlro nelphborhood,erc.): This 15 a remote mountain Cdbin
<br /> and a search was made to select the most recent sales of similar type of t~roperties in the
<br /> county. The above sales are the most recent similar sales. ,_ and with an adjustment for time.
<br /> based on sale/resale of properties in the county and an adjustment for site. based on vacant
<br /> land sales of similar ro erties in the current market. Most wei ht is iven to the sale with
<br /> the least ad'ustments Sale 2 which is su orted b Sale #1.
<br /> ITEM SUBIECT COMPARABLE H0. 1 COMPARABLE N0.2 COMPARABLE N0.3
<br /> Dab,PrkeandData N/A N/A N/A N/A
<br /> Soume,torprbraales Public Rec Public Rec Public Rec Public Rec
<br /> within ear of a ralsal
<br /> Anayels of arty ~curtent agreement of sab, optlon, or tlstlnq of sublecl property and anaysb of any pnor cabs of subject and comparablas within one year of me dab al apDralsal:
<br /> The sub.iect property is not for sale Prior sales of the comparable properties occurred
<br /> more than one year ago.
<br /> INDICATED VALUE BY SALES COMPARISON APPROACH . .... ... S 33.000
<br /> INDICATED VALUE BY INCOME APPROACH I A ecaDb Estlmaled Markel Rent S /Me. z Gross Rent Mufs tier = S V
<br /> Thb appraisal b made X^'as Is' ^ subject b me repairs, albratlore, Inspectlons or conditlons Esad Debw ^ subject to compbtlon per plans 8 speclRCatlons.
<br /> CandMansolAppralsal: No warrant of the a raised ro ert is iven or im lied. No liabilit is
<br /> assumed for the structural or mechanical elements of the property.
<br /> Flnal Reconc111atlon:DUe to a lack of rental data. the Income Approach is not appro riate. Most wei ht is
<br /> given to the Sales Comparison Approach as it identifies the actions of the buyers and sellers
<br />- in the current market. and is suDDOrted by the Cost Approach
<br /> Tim purpose o1 mis apDralsall5 m estlmate Cie marketvalue of me real property mat Is the subject of mb report based on me above conditlons and the cerd0catlon, contlnpenl
<br /> and amltlrlp conditlons, and market vahe de0nltlon that are sbkd In the attached Freddie Mac Farm 439rFNMA loan 10048 (Re+ised 6 / 93 1~
<br /> I (WET ESTIMATE Tf ARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SU&IFCT OF SHIS REPORT, AS OF Se tember 18 1995
<br />- (IVHICH IS TH AT F INSPECTION A! E EFFEC E DATE OF THIS REPOflT) i0 BE S 33 , 000
<br /> APPRAISER' a SUPERVISORY APPRAISER (ONLY IF REQUIRED):
<br /> S nacre ~naWre ^ Did ^ Dld Not
<br /> Nama,JO I. id - Name Inspect Property
<br /> DabR ned tober 3 1995 DabReponSlened
<br /> StabCertlO tlons 801314144 State Co sbbCerefkations state
<br /> Dr Stab Licenses State 12 / 19 Or Sbb license s ~,,,.
<br />Freddie Mac Forth 70 893 PAGE 2 OF 2 Fannie Mae Form 1004 6-93',
<br />Forth UA2 -- 'TOTAL 2000' apDralsal sonware M a la mrMe mr .. +.nnn.si aunnc r
<br />
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