appraisal report uniform residential appraisal report

Uniform Residential Appraisal Report File #

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The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property.Property Address City State Zip CodeBorrower Owner of Public Record CountyLegal DescriptionAssessor's Parcel # Tax Year R.E. Taxes $Neighborhood Name Map Reference Census TractOccupant Owner Tenant Vacant Special Assessments $ PUD HOA $ per year per monthProperty Rights Appraised Fee Simple Leasehold Other (describe)Assignment Type Purchase Transaction Refinance Transaction Other (describe)Lender/Client AddressIs the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal? Yes NoReport data source(s) used, offering price(s), and date(s).

I did did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was notperformed.

Contract Price $ Date of Contract Is the property seller the owner of public record? Yes No Data Source(s)Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower? Yes NoIf Yes, report the total dollar amount and describe the items to be paid.

Note: Race and the racial composition of the neighborhood are not appraisal factors.Neighborhood Characteristics

Location Urban Suburban RuralBuilt-Up Over 75% 25-75% Under 25%Growth Rapid Stable Slow

One-Unit Housing TrendsProperty Values Increasing Stable DecliningDemand/Supply Shortage In Balance Over SupplyMarketing Time Under 3 mths 3-6 mths Over 6 mths

One-Unit HousingPRICE$ (000)

AGE(yrs)

LowHighPred.

Present Land Use %One-Unit %2-4 Unit %Multi-Family %Commercial %Other %

Neighborhood Boundaries

Neighborhood Description

Market Conditions (including support for the above conclusions)

Dimensions Area Shape ViewSpecific Zoning Classification Zoning DescriptionZoning Compliance Legal Legal Nonconforming (Grandfathered Use) No Zoning Illegal (describe)Is the highest and best use of subject property as improved (or as proposed per plans and specifications) the present use? Yes No If No, describe

Utilities Public Other (describe) Public Other (describe)ElectricityGas

WaterSanitary Sewer

Off-site Improvements - Type Public PrivateStreetAlley

FEMA Special Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map DateAre the utilities and off-site improvements typical for the market area? Yes No If No, describeAre there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? Yes No If Yes, describe

General DescriptionUnits One One with Accessory Unit# of StoriesType Det. Att. S-Det./End Unit

Existing Proposed Under Const.Design (Style)Year BuiltEffective Age (Yrs)

FoundationConcrete Slab Crawl SpaceFull Basement Partial Basement

Basement Area sq.ft.Basement Finish %

Outside Entry/Exit Sump PumpEvidence of Infestation

Dampness Settlement

Exterior Description materials/conditionFoundation WallsExterior WallsRoof SurfaceGutters & DownspoutsWindow TypeStorm Sash/InsulatedScreens

Interior materials/conditionFloorsWallsTrim/FinishBath FloorBath Wainscot

Attic NoneDrop Stair StairsFloor ScuttleFinished Heated

Heating FWA HWBB RadiantOther Fuel

Cooling Central Air ConditioningIndividual Other

AmenitiesFireplace(s) #Patio/DeckPool

Woodstove(s) #FencePorchOther

Car Storage NoneDriveway # of Cars

Driveway SurfaceGarage # of CarsCarport # of CarsAtt. Det. Built-in

Appliances Refrigerator Range/Oven Dishwasher Disposal Microwave Washer/Dryer Other (describe)Finished area above grade contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area Above GradeAdditional features (special energy efficient items, etc.).

Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.).

Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? Yes No If Yes, describe

Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? Yes No If No, describe

Freddie Mac Form 70 March 2005 UAD Version 9/2011 of 6 Fannie Mae Form 1004 March 2005

Thomas J. Schulte & Associates

1234567102

XX Sweet Meadow Ct Saint Charles MO 63303Smith, John / Mary Jones, Joe / Betty St. Charles

Merriweather Park #1 Lot XX3-0037-6006-00-XXXXXXXX 2013 2,734Merriweather Park 3-204-51 3111.48

0 450

Sample Lender 1234 Main St, Saint Louis, MO 63000

DOM 477;MARIS MLS#14010580; listed 03/04/2014 at $215,000, reduced to $209,999 at thetime of sale; sale is currently pending. Prior MARIS MLS#13048055; listed 08/23/2013 at $225,000; reduced to $219,500; listing expired.

Arms length sale;Contract provided for review from lender included 8 pages; Counteroffer #1; VA Loan Provision Rider. Sale includessome personal property.

206,000 09/13/2014 Tax Records

$3,500;;Seller agrees to pay up to $3,500 toward buyers closing costs, points and/orprepaid items.

75350200

04020

75

520

Highway 94 to the north, Caulks Hill Rd. to the west, Katy Trail to the south,Highway 364 to the east.

Subject property is located in a subdivision containing similar age and quality single family dwellings in southeast St. CharlesCounty. Access to neighborhood support facilities is adequate. Land use mix above is typical and there are no apparant adverse conditionsaffecting subject property. Other uses include vacant / institutional / public.

See attached addenda.

99/73 X 130/109 10454 sf Irregular N;Res;R-1E Single Family Residential

ConcreteNone

X 29183C0452 E 08/02/1996

There are no apparent adverse easements, encroachments, or other adverse conditions. Refer to deed for easements of record.

2

Traditional198720

9520

Concrete/avg.Br.Vn/Vinyl/avg.Comp. shingle/goodAluminum/avg.Vinyl-clad/goodInsulatedYes/good

Cp/wood lam./avg.+Drywall/avg.Wood/avg.Cer.tl/wd.lam/avg.Fiberglass/avg.

Gas 1patio

none

0woodfrontnone

2Concrete

20

8 4 2.1 2,205Coffered ceiling in DR; attic fan; bookshelves; chair rail trim; aluminum covered soffit and fascia.

C4;Kitchen-updated-timeframeunknown;Bathrooms-updated-timeframe unknown;subject property is in generally average condition. No apparant major repairs needed. Recentimprovements include new roof, windows, dishwasher, disposal, fence - 2013. Some newer bath fixtures, newer HVAC, newer laminate flooring.

Form 1004UAD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Thomas J. Schulte & Associates

1234567102

XX Sweet Meadow Ct Saint Charles MO 63303Smith, John / Mary Jones, Joe / Betty St. Charles

Merriweather Park #1 Lot XX3-0037-6006-00-XXXXXXXX 2013 2,734Merriweather Park 3-204-51 3111.48

0 450

Sample Lender 1234 Main St, Saint Louis, MO 63000

DOM 477;MARIS MLS#14010580; listed 03/04/2014 at $215,000, reduced to $209,999 at thetime of sale; sale is currently pending. Prior MARIS MLS#13048055; listed 08/23/2013 at $225,000; reduced to $219,500; listing expired.

Arms length sale;Contract provided for review from lender included 8 pages; Counteroffer #1; VA Loan Provision Rider. Sale includessome personal property.

206,000 09/13/2014 Tax Records

$3,500;;Seller agrees to pay up to $3,500 toward buyers closing costs, points and/orprepaid items.

75350200

04020

75

520

Highway 94 to the north, Caulks Hill Rd. to the west, Katy Trail to the south,Highway 364 to the east.

Subject property is located in a subdivision containing similar age and quality single family dwellings in southeast St. CharlesCounty. Access to neighborhood support facilities is adequate. Land use mix above is typical and there are no apparant adverse conditionsaffecting subject property. Other uses include vacant / institutional / public.


99/73 X 130/109 10454 sf Irregular N;Res;R-1E Single Family Residential

ConcreteNone

X 29183C0452 E 08/02/1996

There are no apparent adverse easements, encroachments, or other adverse conditions. Refer to deed for easements of record.

2

Traditional198720

9520

Concrete/avg.Br.Vn/Vinyl/avg.Comp. shingle/goodAluminum/avg.Vinyl-clad/goodInsulatedYes/good

Cp/wood lam./avg.+Drywall/avg.Wood/avg.Cer.tl/wd.lam/avg.Fiberglass/avg.

Gas 1patio

none

0woodfrontnone

2Concrete

20

8 4 2.1 2,205Coffered ceiling in DR; attic fan; bookshelves; chair rail trim; aluminum covered soffit and fascia.

C4;Kitchen-updated-timeframeunknown;Bathrooms-updated-timeframe unknown;subject property is in generally average condition. No apparant major repairs needed. Recentimprovements include new roof, windows, dishwasher, disposal, fence - 2013. Some newer bath fixtures, newer HVAC, newer laminate flooring.



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The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property.Property Address City State Zip CodeBorrower Owner of Public Record CountyLegal DescriptionAssessor's Parcel # Tax Year R.E. Taxes $Neighborhood Name Map Reference Census TractOccupant Owner Tenant Vacant Special Assessments $ PUD HOA $ per year per monthProperty Rights Appraised Fee Simple Leasehold Other (describe)Assignment Type Purchase Transaction Refinance Transaction Other (describe)Lender/Client AddressIs the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal? Yes NoReport data source(s) used, offering price(s), and date(s).

I did did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was notperformed.

Contract Price $ Date of Contract Is the property seller the owner of public record? Yes No Data Source(s)Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower? Yes NoIf Yes, report the total dollar amount and describe the items to be paid.

Note: Race and the racial composition of the neighborhood are not appraisal factors.Neighborhood Characteristics

Location Urban Suburban RuralBuilt-Up Over 75% 25-75% Under 25%Growth Rapid Stable Slow

One-Unit Housing TrendsProperty Values Increasing Stable DecliningDemand/Supply Shortage In Balance Over SupplyMarketing Time Under 3 mths 3-6 mths Over 6 mths

One-Unit HousingPRICE$ (000)

AGE(yrs)

LowHighPred.

Present Land Use %One-Unit %2-4 Unit %Multi-Family %Commercial %Other %

Neighborhood Boundaries

Neighborhood Description

Market Conditions (including support for the above conclusions)

Dimensions Area Shape ViewSpecific Zoning Classification Zoning DescriptionZoning Compliance Legal Legal Nonconforming (Grandfathered Use) No Zoning Illegal (describe)Is the highest and best use of subject property as improved (or as proposed per plans and specifications) the present use? Yes No If No, describe

Utilities Public Other (describe) Public Other (describe)ElectricityGas

WaterSanitary Sewer

Off-site Improvements - Type Public PrivateStreetAlley

FEMA Special Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map DateAre the utilities and off-site improvements typical for the market area? Yes No If No, describeAre there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? Yes No If Yes, describe

General DescriptionUnits One One with Accessory Unit# of StoriesType Det. Att. S-Det./End Unit

Existing Proposed Under Const.Design (Style)Year BuiltEffective Age (Yrs)

FoundationConcrete Slab Crawl SpaceFull Basement Partial Basement

Basement Area sq.ft.Basement Finish %

Outside Entry/Exit Sump PumpEvidence of Infestation

Dampness Settlement

Exterior Description materials/conditionFoundation WallsExterior WallsRoof SurfaceGutters & DownspoutsWindow TypeStorm Sash/InsulatedScreens

Interior materials/conditionFloorsWallsTrim/FinishBath FloorBath Wainscot

Attic NoneDrop Stair StairsFloor ScuttleFinished Heated

Heating FWA HWBB RadiantOther Fuel

Cooling Central Air ConditioningIndividual Other

AmenitiesFireplace(s) #Patio/DeckPool

Woodstove(s) #FencePorchOther

Car Storage NoneDriveway # of Cars

Driveway SurfaceGarage # of CarsCarport # of CarsAtt. Det. Built-in

Appliances Refrigerator Range/Oven Dishwasher Disposal Microwave Washer/Dryer Other (describe)Finished area above grade contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area Above GradeAdditional features (special energy efficient items, etc.).

Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.).

Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? Yes No If Yes, describe

Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? Yes No If No, describe

Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 1 of 6 Fannie Mae Form 1004 March 2005

Client File No. 1234567

Appraisal Report


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There are comparable properties currently offered for sale in the subject neighborhood ranging in price from $ to $ .There are comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ to $ .

FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3Address

Proximity to SubjectSale Price $ $ $ $Sale Price/Gross Liv. Area $ sq.ft. $ sq.ft. $ sq.ft. $ sq.ft.Data Source(s)Verification Source(s)VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ AdjustmentSales or FinancingConcessionsDate of Sale/TimeLocationLeasehold/Fee SimpleSiteViewDesign (Style)Quality of ConstructionActual AgeConditionAbove Grade Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. BathsRoom CountGross Living Area sq.ft. sq.ft. sq.ft. sq.ft.Basement & FinishedRooms Below GradeFunctional UtilityHeating/CoolingEnergy Efficient ItemsGarage/CarportPorch/Patio/Deck

Net Adjustment (Total) + - + - + -$ $ $Adjusted Sale Priceof Comparables $ $ $

Net Adj. %Gross Adj. %



I did did not research the sale or transfer history of the subject property and comparable sales. If not, explain

My research did did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal.Data Source(s)My research did did not reveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale.Data Source(s)Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).

ITEM SUBJECT COMPARABLE SALE #1 COMPARABLE SALE #2 COMPARABLE SALE #3Date of Prior Sale/TransferPrice of Prior Sale/TransferData Source(s)Effective Date of Data Source(s)Analysis of prior sale or transfer history of the subject property and comparable sales

Summary of Sales Comparison Approach

Indicated Value by Sales Comparison Approach $Indicated Value by: Sales Comparison Approach $ Cost Approach (if developed) $ Income Approach (if developed) $

This appraisal is made "as is", subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have beencompleted, subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or subject to thefollowing required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair:

Based on a complete visual inspection of the interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limitingconditions, and appraiser's certification, my (our) opinion of the market value, as defined, of the real property that is the subject of this report is$ , as of , which is the date of inspection and the effective date of this appraisal.


1234567102

6 195,000 235,00038 166,000 247,000

XX Sweet Meadow CtSaint Charles, MO 63303

206,00093.42

N;Res;Fee Simple10454 sfN;Res;DT2;TraditionalQ427C4

8 4 2.12,205

952sf0sfin

AverageGFWA/Cent.airInsul. windows2ga2dwPatio

Fireplace FireplaceFence Fence

MARIS/Tax Record09/22/2014

XXXX Eagles Crest LnSaint Charles, MO 633030.68 miles NW

224,489102.98

MARIS#1403XXXX;DOM 58Tax Records

ArmLthFHA;4789 -4,700s08/14;c06/14N;Res;Fee simple13068 sf -2,000N;Res;DT2;TraditionalQ426 0C4

7 3 2.1 +2,0002,180 0

1393sf600sfwo -3,0001rr0br0.1ba0o -6,000AverageGFWA/Cent.airInsul. windows2ga2dwDeck/Patio -3,0002 Fireplace -2,000Fence

-18,7008.3

10.1 205,789


XXXX Eagles Hill RdgSaint Charles, MO 633030.53 miles W

220,000101.48


ArmLthConv;0 0s05/14;c03/14N;Res;Fee simple8712 sf +1,000N;Res;DT2;TraditionalQ4 +3,00013 0C4

8 4 2.12,168 0

1000sf0sfwo -3,000

AverageGFWA/Cent.airInsul. windows2ga2dwDeck/Patio -3,000FireplaceFence

-2,0000.94.5 218,000


XXX Brookford CtSaint Charles, MO 633030.54 miles NW

205,000103.43


ArmLthFHA;4000 -4,000s05/14;c04/14N;Res;Fee simple7841 sf +2,000B;Woods; -2,000DT2;TraditionalQ423 0C4

8 4 2.11,982 +6,700

1880sf167sfwo -3,0001rr0br1.0ba0o -3,000AverageGFWA/Cent.airInsul. windows2ga2dwDeck/Patio -3,000FireplaceNo fence +1,000

-5,3002.6

12.0 199,700


MARIS/County records


None


206,000206,000 204,955

Value estimate is based on the more reliable Sales Comparison Approach which is supported by the Cost Approach, although the Cost Approach isgiven little weight due to the lack of site sales requiring an allocation of site value and depreciation estimates. Income Approach is not applicabledue to insufficient rental/sales data since properties such as subject are not purchased for their income producing ability.

206,000 09/24/2014


1234567102

6 195,000 235,00038 166,000 247,000


206,00093.42


8 4 2.12,205

952sf0sfin




XXXX Eagles Crest LnSaint Charles, MO 633030.68 miles NW

224,489102.98


ArmLthFHA;4789 -4,700s08/14;c06/14N;Res;Fee simple13068 sf -2,000N;Res;DT2;TraditionalQ426 0C4

7 3 2.1 +2,0002,180 0

1393sf600sfwo -3,0001rr0br0.1ba0o -6,000AverageGFWA/Cent.airInsul. windows2ga2dwDeck/Patio -3,0002 Fireplace -2,000Fence

-18,7008.3

10.1 205,789


XXXX Eagles Hill RdgSaint Charles, MO 633030.53 miles W

220,000101.48


ArmLthConv;0 0s05/14;c03/14N;Res;Fee simple8712 sf +1,000N;Res;DT2;TraditionalQ4 +3,00013 0C4

8 4 2.12,168 0

1000sf0sfwo -3,000


-2,0000.94.5 218,000


XXX Brookford CtSaint Charles, MO 633030.54 miles NW

205,000103.43


ArmLthFHA;4000 -4,000s05/14;c04/14N;Res;Fee simple7841 sf +2,000B;Woods; -2,000DT2;TraditionalQ423 0C4

8 4 2.11,982 +6,700

1880sf167sfwo -3,0001rr0br1.0ba0o -3,000AverageGFWA/Cent.airInsul. windows2ga2dwDeck/Patio -3,000FireplaceNo fence +1,000

-5,3002.6

12.0 199,700




None


206,000206,000 204,955

Value estimate is based on the more reliable Sales Comparison Approach which is supported by the Cost Approach, although the Cost Approach isgiven little weight due to the lack of site sales requiring an allocation of site value and depreciation estimates. Income Approach is not applicabledue to insufficient rental/sales data since properties such as subject are not purchased for their income producing ability.

206,000 09/24/2014



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There are comparable properties currently offered for sale in the subject neighborhood ranging in price from $ to $ .There are comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ to $ .

FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3Address






I did did not research the sale or transfer history of the subject property and comparable sales. If not, explain

My research did did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal.Data Source(s)My research did did not reveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale.Data Source(s)Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).

ITEM SUBJECT COMPARABLE SALE #1 COMPARABLE SALE #2 COMPARABLE SALE #3Date of Prior Sale/TransferPrice of Prior Sale/TransferData Source(s)Effective Date of Data Source(s)Analysis of prior sale or transfer history of the subject property and comparable sales

Summary of Sales Comparison Approach

Indicated Value by Sales Comparison Approach $Indicated Value by: Sales Comparison Approach $ Cost Approach (if developed) $ Income Approach (if developed) $

This appraisal is made "as is", subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have beencompleted, subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or subject to thefollowing required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair:

Based on a complete visual inspection of the interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limitingconditions, and appraiser's certification, my (our) opinion of the market value, as defined, of the real property that is the subject of this report is$ , as of , which is the date of inspection and the effective date of this appraisal.




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COST APPROACH TO VALUE (not required by Fannie Mae)Provide adequate information for the lender/client to replicate the below cost figures and calculations.Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value)

ESTIMATED REPRODUCTION OR REPLACEMENT COST NEWSource of cost dataQuality rating from cost service Effective date of cost dataComments on Cost Approach (gross living area calculations, depreciation, etc.)

OPINION OF SITE VALUE =$DWELLING Sq.Ft. @ $ =$

Sq.Ft. @ $ =$=$

Garage/Carport Sq.Ft. @ $ =$Total Estimate of Cost-New =$Less Physical Functional ExternalDepreciation =$( )Depreciated Cost of Improvements =$"As-is" Value of Site Improvements =$

INDICATED VALUE BY COST APPROACH =$Estimated Remaining Economic Life (HUD and VA only) YearsINCOME APPROACH TO VALUE (not required by Fannie Mae)

Estimated Monthly Market Rent $ X Gross Rent Multiplier = $ Indicated Value by Income ApproachSummary of Income Approach (including support for market rent and GRM)

PROJECT INFORMATION FOR PUDs (if applicable)Is the developer/builder in control of the Homeowners' Association (HOA)? Yes No Unit type(s) Detached AttachedProvide the following information for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit.Legal Name of ProjectTotal number of phases Total number of units Total number of units soldTotal number of units rented Total number of units for sale Data source(s)Was the project created by the conversion of existing building(s) into a PUD? Yes No If Yes, date of conversion.Does the project contain any multi-dwelling units? Yes No Data SourceAre the units, common elements, and recreation facilities complete? Yes No If No, describe the status of completion.

Are the common elements leased to or by the Homeowners' Association? Yes No If Yes, describe the rental terms and options.

Describe common elements and recreational facilities.


1234567102

This appraisal report is not a home inspection. The appraiser only performed a visual inspection of accessible areas and this appraisal cannot berelied upon to disclose conditions and/or defects in the property.

There is no personal property included in the value estimate.

Refer to the Title for a complete legal description.

Front porch for subject property is typical of all residential properties with some type of front porch at the entry; porch requires no adjustment and isnot included in the comparable sales grid.

Address of subject property and comparables is the USPS address as directed by client.

All utilities were on and mechanical systems were operable at the time of inspection.

The living area for subject property was determined by physical measurement by the appraiser. The living area may vary slightly from what isreported in the public records due to Assessor's rounding techniques and Assessor's estimation of some dimensions.

Since subject property is located in an area thathas mostly large tract developments, there are no recent sales of individual vacant residential sites. Therefore, site value is based on the Allocationmethod that values sites based on an analysis of improved property sales and development of a typical percentage of total property value allocatedto the site. Sites in the area are typically 15% to 25% of total property value.

Marshall & Swift's Cost ServiceAvg. 09/14

40,0002,205 89.25 196,796

952 22.64 21,553FP;Patio;B-ins 10,000

440 26.30 11,572239,921

79,966 79,966159,955

5,000

204,955

Cost estimates are developed from Marshall & Swift's Cost Service andare adjusted to local conditions and local contractor's costs.

Physical depreciation is based on 15 yr. effective age / 60 year totaleconomic life = 25%. No functional or external obsolescence.

40

Inadequate rental/sales data to develop a market GRM


1234567102

This appraisal report is not a home inspection. The appraiser only performed a visual inspection of accessible areas and this appraisal cannot berelied upon to disclose conditions and/or defects in the property.

There is no personal property included in the value estimate.

Refer to the Title for a complete legal description.

Front porch for subject property is typical of all residential properties with some type of front porch at the entry; porch requires no adjustment and isnot included in the comparable sales grid.

Address of subject property and comparables is the USPS address as directed by client.

All utilities were on and mechanical systems were operable at the time of inspection.

The living area for subject property was determined by physical measurement by the appraiser. The living area may vary slightly from what isreported in the public records due to Assessor's rounding techniques and Assessor's estimation of some dimensions.

Since subject property is located in an area thathas mostly large tract developments, there are no recent sales of individual vacant residential sites. Therefore, site value is based on the Allocationmethod that values sites based on an analysis of improved property sales and development of a typical percentage of total property value allocatedto the site. Sites in the area are typically 15% to 25% of total property value.

Marshall & Swift's Cost ServiceAvg. 09/14

40,0002,205 89.25 196,796

952 22.64 21,553FP;Patio;B-ins 10,000

440 26.30 11,572239,921

79,966 79,966159,955

5,000

204,955

Cost estimates are developed from Marshall & Swift's Cost Service andare adjusted to local conditions and local contractor's costs.

Physical depreciation is based on 15 yr. effective age / 60 year totaleconomic life = 25%. No functional or external obsolescence.

40

Inadequate rental/sales data to develop a market GRM



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COST APPROACH TO VALUE (not required by Fannie Mae)Provide adequate information for the lender/client to replicate the below cost figures and calculations.Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value)

ESTIMATED REPRODUCTION OR REPLACEMENT COST NEWSource of cost dataQuality rating from cost service Effective date of cost dataComments on Cost Approach (gross living area calculations, depreciation, etc.)

OPINION OF SITE VALUE =$DWELLING Sq.Ft. @ $ =$

Sq.Ft. @ $ =$=$

Garage/Carport Sq.Ft. @ $ =$Total Estimate of Cost-New =$Less Physical Functional ExternalDepreciation =$( )Depreciated Cost of Improvements =$"As-is" Value of Site Improvements =$

INDICATED VALUE BY COST APPROACH =$Estimated Remaining Economic Life (HUD and VA only) YearsINCOME APPROACH TO VALUE (not required by Fannie Mae)

Estimated Monthly Market Rent $ X Gross Rent Multiplier = $ Indicated Value by Income ApproachSummary of Income Approach (including support for market rent and GRM)

PROJECT INFORMATION FOR PUDs (if applicable)Is the developer/builder in control of the Homeowners' Association (HOA)? Yes No Unit type(s) Detached AttachedProvide the following information for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit.Legal Name of ProjectTotal number of phases Total number of units Total number of units soldTotal number of units rented Total number of units for sale Data source(s)Was the project created by the conversion of existing building(s) into a PUD? Yes No If Yes, date of conversion.Does the project contain any multi-dwelling units? Yes No Data SourceAre the units, common elements, and recreation facilities complete? Yes No If No, describe the status of completion.

Are the common elements leased to or by the Homeowners' Association? Yes No If Yes, describe the rental terms and options.

Describe common elements and recreational facilities.




This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit;including a unit in a planned unit development (PUD). This report form is not designed to report an appraisal of amanufactured home or a unit in a condominium or cooperative project.

This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value,statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intendeduse, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser mayexpand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisalassignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that donot constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser'scontinuing education or membership in an appraisal organization, are permitted.

SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and thereporting requirements of this appraisal report form, including the following definition of market value, statement ofassumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visualinspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of thecomparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources,and (5) report his or her analysis, opinions, and conclusions in this appraisal report.

INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is thesubject of this appraisal for a mortgage finance transaction.

INTENDED USER: The intended user of this appraisal report is the lender/client.

DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and openmarket under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assumingthe price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date andthe passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) bothparties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) areasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in termsof financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property soldunaffected by special or creative financing or sales concessions* granted by anyone associated with the sale.

*Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments arenecessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs arereadily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financingadjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutionallender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanicaldollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market'sreaction to the financing or concessions based on the appraiser's judgment.

STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report issubject to the following assumptions and limiting conditions:

1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the titleto it, except for information that he or she became aware of during the research involved in performing this appraisal. Theappraiser assumes that the title is good and marketable and will not render any opinions about the title.

2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements.The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determinationof its size.

3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency(or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in anidentified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express orimplied, regarding this determination.

4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question,unless specific arrangements to do so have been made beforehand, or as otherwise required by law.

5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, thepresence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he orshe became aware of during the research involved in performing the appraisal. Unless otherwise stated in this appraisalreport, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of theproperty (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances,adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no suchconditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any suchconditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist.Because the appraiser is not an expert in the field of environmental hazards, this appraisal report must not be considered asan environmental assessment of the property.

6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactorycompletion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property willbe performed in a professional manner.


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This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit;including a unit in a planned unit development (PUD). This report form is not designed to report an appraisal of amanufactured home or a unit in a condominium or cooperative project.

This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value,statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intendeduse, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser mayexpand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisalassignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that donot constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser'scontinuing education or membership in an appraisal organization, are permitted.

SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and thereporting requirements of this appraisal report form, including the following definition of market value, statement ofassumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visualinspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of thecomparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources,and (5) report his or her analysis, opinions, and conclusions in this appraisal report.

INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is thesubject of this appraisal for a mortgage finance transaction.

INTENDED USER: The intended user of this appraisal report is the lender/client.

DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and openmarket under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assumingthe price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date andthe passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) bothparties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) areasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in termsof financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property soldunaffected by special or creative financing or sales concessions* granted by anyone associated with the sale.

*Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments arenecessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs arereadily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financingadjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutionallender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanicaldollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market'sreaction to the financing or concessions based on the appraiser's judgment.

STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report issubject to the following assumptions and limiting conditions:

1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the titleto it, except for information that he or she became aware of during the research involved in performing this appraisal. Theappraiser assumes that the title is good and marketable and will not render any opinions about the title.

2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements.The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determinationof its size.

3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency(or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in anidentified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express orimplied, regarding this determination.

4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question,unless specific arrangements to do so have been made beforehand, or as otherwise required by law.

5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, thepresence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he orshe became aware of during the research involved in performing the appraisal. Unless otherwise stated in this appraisalreport, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of theproperty (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances,adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no suchconditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any suchconditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist.Because the appraiser is not an expert in the field of environmental hazards, this appraisal report must not be considered asan environmental assessment of the property.

6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactorycompletion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property willbe performed in a professional manner.




APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that:

1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated inthis appraisal report.

2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the conditionof the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect thelivability, soundness, or structural integrity of the property.

3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional AppraisalPractice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were inplace at the time this appraisal report was prepared.

4. I developed my opinion of the market value of the real property that is the subject of this report based on the salescomparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approachfor this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not developthem, unless otherwise indicated in this report.

5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering forsale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subjectproperty for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report.

6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year priorto the date of sale of the comparable sale, unless otherwise indicated in this report.

7. I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property.

8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home thathas been built or will be built on the land.

9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subjectproperty and the comparable sales.

10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest inthe sale or financing of the subject property.

11. I have knowledge and experience in appraising this type of property in this market area.

12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listingservices, tax assessment records, public land records and other such data sources for the area in which the property is located.

13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report fromreliable sources that I believe to be true and correct.

14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subjectproperty, and the proximity of the subject property to adverse influences in the development of my opinion of market value. Ihave noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, thepresence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of thesubject property or that I became aware of during the research involved in performing this appraisal. I have considered theseadverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value andmarketability of the subject property.

15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, allstatements and information in this appraisal report are true and correct.

16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, whichare subject only to the assumptions and limiting conditions in this appraisal report.

17. I have no present or prospective interest in the property that is the subject of this report, and I have no present orprospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially orcompletely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, maritalstatus, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of thepresent owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law.

18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was notconditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) apredetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause ofany party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pendingmortgage loan application).

19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If Irelied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisalor the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in thisappraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to makea change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take noresponsibility for it.

20. I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization thatordered and will receive this appraisal report.


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APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that:

1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated inthis appraisal report.

2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the conditionof the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect thelivability, soundness, or structural integrity of the property.

3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional AppraisalPractice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were inplace at the time this appraisal report was prepared.

4. I developed my opinion of the market value of the real property that is the subject of this report based on the salescomparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approachfor this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not developthem, unless otherwise indicated in this report.

5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering forsale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subjectproperty for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report.

6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year priorto the date of sale of the comparable sale, unless otherwise indicated in this report.

7. I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property.

8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home thathas been built or will be built on the land.

9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subjectproperty and the comparable sales.

10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest inthe sale or financing of the subject property.

11. I have knowledge and experience in appraising this type of property in this market area.

12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listingservices, tax assessment records, public land records and other such data sources for the area in which the property is located.

13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report fromreliable sources that I believe to be true and correct.

14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subjectproperty, and the proximity of the subject property to adverse influences in the development of my opinion of market value. Ihave noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, thepresence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of thesubject property or that I became aware of during the research involved in performing this appraisal. I have considered theseadverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value andmarketability of the subject property.

15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, allstatements and information in this appraisal report are true and correct.

16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, whichare subject only to the assumptions and limiting conditions in this appraisal report.

17. I have no present or prospective interest in the property that is the subject of this report, and I have no present orprospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially orcompletely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, maritalstatus, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of thepresent owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law.

18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was notconditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) apredetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause ofany party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pendingmortgage loan application).

19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If Irelied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisalor the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in thisappraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to makea change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take noresponsibility for it.

20. I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization thatordered and will receive this appraisal report.




21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of theborrower; the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; othersecondary market participants; data collection or reporting services; professional appraisal organizations; any department,agency, or instrumentality of the United States; and any state, the District of Columbia, or other jurisdictions; without having toobtain the appraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisalreport may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, publicrelations, news, sales, or other media).

22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certainlaws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practicethat pertain to disclosure or distribution by me.

23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgageinsurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as partof any mortgage finance transaction that involves any one or more of these parties.

24. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms aredefined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of thisappraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable andvalid as if a paper version of this appraisal report were delivered containing my original hand written signature.

25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/orcriminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United StatesCode, Section 1001, et seq., or similar state laws.

SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that:

1. I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser'sanalysis, opinions, statements, conclusions, and the appraiser's certification.

2. I accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions,statements, conclusions, and the appraiser's certification.

3. The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser (or theappraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law.

4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted andpromulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisalreport was prepared.


APPRAISER

SignatureNameCompany NameCompany Address

Telephone NumberEmail AddressDate of Signature and ReportEffective Date of AppraisalState Certification #or State License #or Other (describe) State #StateExpiration Date of Certification or License

ADDRESS OF PROPERTY APPRAISED

APPRAISED VALUE OF SUBJECT PROPERTY $LENDER/CLIENTNameCompany NameCompany Address

Email Address

SUPERVISORY APPRAISER (ONLY IF REQUIRED)


Telephone NumberEmail AddressDate of SignatureState Certification #or State License #StateExpiration Date of Certification or License

SUBJECT PROPERTY

Did not inspect subject propertyDid inspect exterior of subject property from streetDate of InspectionDid inspect interior and exterior of subject propertyDate of Inspection

COMPARABLE SALES

Did not inspect exterior of comparable sales from streetDid inspect exterior of comparable sales from streetDate of Inspection


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Thomas J. SchulteThomas J. Schulte & Associates

109 Barrington Lake Dr.Dardenne Prairie, MO 63368(636) 265-5155

[email protected]/26/2014

09/24/2014RA001136

MO06/30/2016


206,000

AMCSample Lender

1234 Main St, Saint Louis, MO 63000


1234567102


109 Barrington Lake Dr.Dardenne Prairie, MO 63368(636) 265-5155

[email protected]/26/2014

09/24/2014RA001136

MO06/30/2016


206,000

AMCSample Lender

1234 Main St, Saint Louis, MO 63000



21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of theborrower; the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; othersecondary market participants; data collection or reporting services; professional appraisal organizations; any department,agency, or instrumentality of the United States; and any state, the District of Columbia, or other jurisdictions; without having toobtain the appraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisalreport may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, publicrelations, news, sales, or other media).

22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certainlaws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practicethat pertain to disclosure or distribution by me.

23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgageinsurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as partof any mortgage finance transaction that involves any one or more of these parties.


25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/orcriminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United StatesCode, Section 1001, et seq., or similar state laws.

SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that:

1. I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser'sanalysis, opinions, statements, conclusions, and the appraiser's certification.

2. I accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions,statements, conclusions, and the appraiser's certification.

3. The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser (or theappraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law.

4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted andpromulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisalreport was prepared.


APPRAISER


Telephone NumberEmail AddressDate of Signature and ReportEffective Date of AppraisalState Certification #or State License #or Other (describe) State #StateExpiration Date of Certification or License

ADDRESS OF PROPERTY APPRAISED

APPRAISED VALUE OF SUBJECT PROPERTY $LENDER/CLIENTNameCompany NameCompany Address

Email Address

SUPERVISORY APPRAISER (ONLY IF REQUIRED)


Telephone NumberEmail AddressDate of SignatureState Certification #or State License #StateExpiration Date of Certification or License

SUBJECT PROPERTY

Did not inspect subject propertyDid inspect exterior of subject property from streetDate of InspectionDid inspect interior and exterior of subject propertyDate of Inspection

COMPARABLE SALES

Did not inspect exterior of comparable sales from streetDid inspect exterior of comparable sales from streetDate of Inspection



Property AddressCity County State Zip Code

File No.Supplemental Addendum

Form TADD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

102Smith, John / MaryXX Sweet Meadow CtSaint Charles St. Charles MO 63303Sample Lender

Borrower/Client

Lender/Client


• URAR : Neighborhood - Market Conditions

Property values in subject defined Market Area and price range are generally stable. Supply of comparable properties for salein subject defined Market Area and price range is currently in balance with demand based on the current sales rate.

The estimated reasonable marketing time for subject property is an opinion of the amount of time it might take to sell thesubject property at the concluded Market Value during the period immediately after the effective date of the appraisal (USPAP2014-2015 Edition; The Appraisal Foundation). The estimated marketing time for subject property is less than 3 months basedthe current 1.8 month supply of comparable properties currently for sale in subject property's defined Market Area and pricerange (see Market Conditions Addendum).

The exposure time for subject property is the estimated length of time that the subject property would have been offered on themarket prior to the hypothetical consumation of a sale at Market Value on the effective date of the appraisal. Exposure time isa retrospective opinion based on an analysis of past events assuming a competitive and open market (USPAP 2014-2015Edition; The Appraisal Foundation) . The estimated exposure time for subject property is less than 3 months based on themedian days on market in the attached Market Conditions Addendum and days on market of comparable sales analyzed forthis report.

Highest And Best Use:

Highest and Best Use is defined as the reasonably probable and legal use of vacant land or an improved property, which isphysically possible, appropriately supported, financially feasible, and that results in the highest value.

Highest and Best Use of subject site as vacant under current zoning is as a single family dwelling.

Subject property is currently improved with a single family dwelling that conforms to current zoning and is, therefore, a legaluse. There are no indications of a likely zoning change. Use is physically possible as it conforms to current setbackrequirements and is financially feasible since it conforms with surrounding properties and has a contributory value to the site.Therefore, Highest and Best Use of subject property, as improved, is single family residential.

• URAR : Sales Comparison Analysis - Summary of Sales Comparison Approach

Comparable sales are similar quality two story dwellings located in the same defined Market Area as subject property.

Concession adjustment for sales 1 & 3 reflects closing costs paid by the seller. This is a sum certain amount agreed uponduring contract negotiations that had an affect on the sale price by the amount shown. This differs from a financing adjustmentwhere the value of the concession is unstated and must be extracted from the market and it's affect on the sale pricedetermined (Ref: Adjusting Comparable Sales For Seller Concessions: APB Valuation Advisory #2).

Site adjustment reflects the premium for size difference. View adjustment for sale 3 reflects the premium for wooded view tothe rear. "Premium" means the typical amount paid by buyers in a subdivision where all sites are valued equally, even thoughthere is a slight size difference, but an additional amount (premium) is paid for sites that are significantly larger or have abeneficial view such as woods, lake, golf course, etc..

Quality adjustment for sale 2 reflects the contributory value of subject property's superior front elevation with brick veneer.

All three sales are similar effective age and condition as subject property. Sales 1 & 3 have similar updating/maintenance. Sale2 has little updating but actual age is similar to subject property's effective age.

Line one of the basement adjustment reflects the contributory value of a walkout.

Line two of the basement adjustment reflects the contributory value of the finished basement area.

An adjustment was made reflecting the contributory value of a deck for all three sales.

An adjustment was made reflecting the contributory value of an additional fireplace for sale 1 and subject property's fence forsale 3.

Comparable sale 2 required the least adjustment and is most similar and is given most weight. Sales 1 & 3 are given slightlyless weight but equal weight to each other due to the similar adjustment required. Some consideration is given to the contractprice of subject property since it is considered to be relevant market data. Final value estimate is within the indicated range ofvalue.


SALE

S C

OM

PAR

ISO

N A

PPR

OA

CH

SALE

HIS

TOR

YA

NA

LYSI

S / C

OM

MEN

TS

FEATURE SUBJECT COMPARABLE SALE # COMPARABLE SALE # COMPARABLE SALE #Address






Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).ITEM SUBJECT COMPARABLE SALE # COMPARABLE SALE # COMPARABLE SALE #

Date of Prior Sale/TransferPrice of Prior Sale/TransferData Source(s)Effective Date of Data Source(s)Analysis of prior sale or transfer history of the subject property and comparable sales

Analysis/Comments

Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005UAD Version 9/2011

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206,00093.42


8 4 2.12,205

952sf0sfin




XXX Pond Hollow DrSaint Charles, MO 633030.20 miles NE

222,750105.57


Listing -2,200

ActiveN;Res;Fee Simple11326 sf 0N;Res;DT2;TraditionalQ421 0C4

8 4 2.12,110 +2,900

952sf0sfin

AverageGFWA/Cent.airInsul. windows2ga2dwPatioFireplaceNo fence +1,000

1,7000.82.7 224,450


X Moss Pointe CtSaint Charles, MO 633030.26 miles NW

220,000106.90


Listing -2,200

ActiveN;Res;Fee Simple7405 sf +2,000N;Res;DT2;TraditionalQ419 0C4

8 4 2.12,058 +4,400

1000sf0sfwo -3,000


-1,8000.86.6 218,200


4 5 6

4 5 6

None

Comparable Listings 4 & 5 are similar quality two story dwellings located in the same defined Market Area as subject property.Site adjustment for Comparable 5 reflects the premium for subject property's additional size. Site size varies slightly from subject property forComparable 4, however, the difference is not significant in this market and site value is similar to subject property. Comparables 4 & 5 are similareffective age and condition as subject property due to similar updating/maintenance. Living area adjustment is based on approximately $30 persq.ft. for the size difference. Basement adjustment reflects the contributory value of a walkout. An adjustment reflecting the contributory value of adeck was made for Comparable 5 and the contributory value of subject property's fence for Comparable 4. An adjustment to list price has beenmade to both listings to reflect a probable sale price (see explaination below).

Data in the attached Market Conditions Addendum indicates that recent sales were at a median of approximately 99% of original list price.

Comparable 4 had an original list price of $225,000. A 1% adjustment to the original list price is -$2,250. The original list price has already beenreduced by $2,250. Therefore, no adjustment to the current list price is indicated to reflect a probable sale price. However, it is likely that the finalsale price will be below the current list price and the original list price may have been excessive. Therefore, a 1% adjustment is made to the currentlist price to reflect a probable sale price.


Form 1004UAD.(AC) — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

1234567102


206,00093.42


8 4 2.12,205

952sf0sfin




XXX Pond Hollow DrSaint Charles, MO 633030.20 miles NE

222,750105.57


Listing -2,200

ActiveN;Res;Fee Simple11326 sf 0N;Res;DT2;TraditionalQ421 0C4

8 4 2.12,110 +2,900

952sf0sfin

AverageGFWA/Cent.airInsul. windows2ga2dwPatioFireplaceNo fence +1,000

1,7000.82.7 224,450


X Moss Pointe CtSaint Charles, MO 633030.26 miles NW

220,000106.90


Listing -2,200

ActiveN;Res;Fee Simple7405 sf +2,000N;Res;DT2;TraditionalQ419 0C4

8 4 2.12,058 +4,400

1000sf0sfwo -3,000


-1,8000.86.6 218,200


4 5 6

4 5 6

None

Comparable Listings 4 & 5 are similar quality two story dwellings located in the same defined Market Area as subject property.Site adjustment for Comparable 5 reflects the premium for subject property's additional size. Site size varies slightly from subject property forComparable 4, however, the difference is not significant in this market and site value is similar to subject property. Comparables 4 & 5 are similareffective age and condition as subject property due to similar updating/maintenance. Living area adjustment is based on approximately $30 persq.ft. for the size difference. Basement adjustment reflects the contributory value of a walkout. An adjustment reflecting the contributory value of adeck was made for Comparable 5 and the contributory value of subject property's fence for Comparable 4. An adjustment to list price has beenmade to both listings to reflect a probable sale price (see explaination below).

Data in the attached Market Conditions Addendum indicates that recent sales were at a median of approximately 99% of original list price.



Form 1004UAD.(AC) — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE


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FEATURE SUBJECT COMPARABLE SALE # COMPARABLE SALE # COMPARABLE SALE #Address






Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).ITEM SUBJECT COMPARABLE SALE # COMPARABLE SALE # COMPARABLE SALE #

Date of Prior Sale/TransferPrice of Prior Sale/TransferData Source(s)Effective Date of Data Source(s)Analysis of prior sale or transfer history of the subject property and comparable sales

Analysis/Comments

Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005UAD Version 9/2011


USPAP ADDENDUM File No.BorrowerProperty AddressCity County State Zip CodeLender

This report was prepared under the following USPAP reporting option:Appraisal Report This report was prepared in accordance with USPAP Standards Rule 2-2(a).

Restricted Appraisal Report This report was prepared in accordance with USPAP Standards Rule 2-2(b).

Reasonable Exposure TimeMy opinion of a reasonable exposure time for the subject property at the market value stated in this report is:

Additional CertificationsI certify that, to the best of my knowledge and belief:

I have NOT performed services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within thethree-year period immediately preceding acceptance of this assignment.

I HAVE performed services, as an appraiser or in another capacity, regarding the property that is the subject of this report within the three-yearperiod immediately preceding acceptance of this assignment. Those services are described in the comments below.

Additional Comments

APPRAISER:

Signature:Name:Date Signed:State Certification #:or State License #:State:Expiration Date of Certification or License:Effective Date of Appraisal:

SUPERVISORY APPRAISER: (only if required)

Signature:Name:Date Signed:State Certification #:or State License #:State:Expiration Date of Certification or License:Supervisory Appraiser Inspection of Subject Property:

Did Not Exterior-only from Street Interior and Exterior

1234567102

Smith, John / MaryXX Sweet Meadow CtSaint Charles St. Charles MO 63303Sample Lender

less than 3 monthsThe exposure time for subject property is the estimated length of time that the subject property would have been offered on the market priorto the hypothetical consumation of a sale at Market Value on the effective date of the appraisal. Exposure time is a retrospective opinionbased on an analysis of past events assuming a competitive and open market (USPAP 2014-2015 Edition; The Appraisal Foundation) . Theestimated exposure time for subject property is less than 3 months based on the median days on market of comparable sales analyzed forthis report.

— The statements of fact contained in this report are true and correct.— The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, impartial, and unbiasedprofessional analyses, opinions, and conclusions.— Unless otherwise indicated, I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the partiesinvolved.— I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.— My engagement in this assignment was not contingent upon developing or reporting predetermined results.— My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause ofthe client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal.— My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice thatwere in effect at the time this report was prepared.— Unless otherwise indicated, I have made a personal inspection of the property that is the subject of this report.— Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification (if there are exceptions, the name of eachindividual providing significant real property appraisal assistance is stated elsewhere in this report).

The Intended User of this Summary Appraisal Report is the Lender/Client. The Intended Use is to evaluate the property that is the subjectof this appraisal for a mortgage finance transaction, subject to the stated Scope Of Work, purpose of the appraisal, reporting requirementsof this appraisal report form, and Definition of Market Value. This report is not intended for any other use. No additional Intended Users areidentified by the appraiser.

The appraiser has completed this appraisal in full compliance with applicable Appraiser Independence Requirements and has notperformed, participated in or been associated with any activity in violation of these requirements.

Thomas J. Schulte11/18/2014

RA001136

MO06/30/2016

09/24/2014

Form ID14AP — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

1234567102

Smith, John / MaryXX Sweet Meadow CtSaint Charles St. Charles MO 63303Sample Lender

less than 3 monthsThe exposure time for subject property is the estimated length of time that the subject property would have been offered on the market priorto the hypothetical consumation of a sale at Market Value on the effective date of the appraisal. Exposure time is a retrospective opinionbased on an analysis of past events assuming a competitive and open market (USPAP 2014-2015 Edition; The Appraisal Foundation) . Theestimated exposure time for subject property is less than 3 months based on the median days on market of comparable sales analyzed forthis report.

— The statements of fact contained in this report are true and correct.— The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, impartial, and unbiasedprofessional analyses, opinions, and conclusions.— Unless otherwise indicated, I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the partiesinvolved.— I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.— My engagement in this assignment was not contingent upon developing or reporting predetermined results.— My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause ofthe client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal.— My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice thatwere in effect at the time this report was prepared.— Unless otherwise indicated, I have made a personal inspection of the property that is the subject of this report.— Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification (if there are exceptions, the name of eachindividual providing significant real property appraisal assistance is stated elsewhere in this report).

The Intended User of this Summary Appraisal Report is the Lender/Client. The Intended Use is to evaluate the property that is the subjectof this appraisal for a mortgage finance transaction, subject to the stated Scope Of Work, purpose of the appraisal, reporting requirementsof this appraisal report form, and Definition of Market Value. This report is not intended for any other use. No additional Intended Users areidentified by the appraiser.

The appraiser has completed this appraisal in full compliance with applicable Appraiser Independence Requirements and has notperformed, participated in or been associated with any activity in violation of these requirements.

Thomas J. Schulte11/18/2014

RA001136

MO06/30/2016

09/24/2014

Form ID14AP — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

USPAP ADDENDUM File No.BorrowerProperty AddressCity County State Zip CodeLender

This report was prepared under the following USPAP reporting option:Appraisal Report This report was prepared in accordance with USPAP Standards Rule 2-2(a).

Restricted Appraisal Report This report was prepared in accordance with USPAP Standards Rule 2-2(b).

Reasonable Exposure TimeMy opinion of a reasonable exposure time for the subject property at the market value stated in this report is:

Additional CertificationsI certify that, to the best of my knowledge and belief:

I have NOT performed services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within thethree-year period immediately preceding acceptance of this assignment.

I HAVE performed services, as an appraiser or in another capacity, regarding the property that is the subject of this report within the three-yearperiod immediately preceding acceptance of this assignment. Those services are described in the comments below.

Additional Comments

APPRAISER:

Signature:Name:Date Signed:State Certification #:or State License #:State:Expiration Date of Certification or License:Effective Date of Appraisal:

SUPERVISORY APPRAISER: (only if required)

Signature:Name:Date Signed:State Certification #:or State License #:State:Expiration Date of Certification or License:Supervisory Appraiser Inspection of Subject Property:

Did Not Exterior-only from Street Interior and Exterior


File No.Market Conditions Addendum to the Appraisal ReportM

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The purpose of this addendum is to provide the lender/client with a clear and accurate understanding of the market trends and conditions prevalent in the subjectneighborhood. This is a required addendum for all appraisal reports with an effective date on or after April 1, 2009.Property Address City State ZIP CodeBorrowerInstructions: The appraiser must use the information required on this form as the basis for his/her conclusions, and must provide support for those conclusions, regardinghousing trends and overall market conditions as reported in the Neighborhood section of the appraisal report form. The appraiser must fill in all the information to the extentit is available and reliable and must provide analysis as indicated below. If any required data is unavailable or is considered unreliable, the appraiser must provide anexplanation. It is recognized that not all data sources will be able to provide data for the shaded areas below; if it is available, however, the appraiser must include the datain the analysis. If data sources provide the required information as an average instead of the median, the appraiser should report the available figure and identify it as anaverage. Sales and listings must be properties that compete with the subject property, determined by applying the criteria that would be used by a prospective buyer of thesubject property. The appraiser must explain any anomalies in the data, such as seasonal markets, new construction, foreclosures, etc.Inventory Analysis Prior 7–12 Months Prior 4–6 Months Current – 3 Months Overall Trend

Median Sale & List Price, DOM, Sale/List % Prior 7–12 Months Prior 4–6 Months Current – 3 Months

Total # of Comparable Sales (Settled)Absorption Rate (Total Sales/Months)Total # of Comparable Active ListingsMonths of Housing Supply (Total Listings/Ab.Rate)

Median Comparable Sale PriceMedian Comparable Sales Days on MarketMedian Comparable List PriceMedian Comparable Listings Days on MarketMedian Sale Price as % of List Price

Increasing Stable DecliningIncreasing Stable DecliningDeclining Stable IncreasingDeclining Stable Increasing

Overall TrendIncreasing Stable DecliningDeclining Stable IncreasingIncreasing Stable DecliningDeclining Stable IncreasingIncreasing Stable Declining

Seller-(developer, builder, etc.)paid financial assistance prevalent? Yes No Declining Stable IncreasingExplain in detail the seller concessions trends for the past 12 months (e.g., seller contributions increased from 3% to 5%, increasing use of buydowns, closing costs, condofees, options, etc.).

Are foreclosure sales (REO sales) a factor in the market? Yes No If yes, explain (including the trends in listings and sales of foreclosed properties).

Cite data sources for above information.

Summarize the above information as support for your conclusions in the Neighborhood section of the appraisal report form. If you used any additional information, such asan analysis of pending sales and/or expired and withdrawn listings, to formulate your conclusions, provide both an explanation and support for your conclusions.

If the subject is a unit in a condominium or cooperative project , complete the following: Project Name:Subject Project Data Prior 7–12 Months Prior 4–6 Months Current – 3 Months Overall TrendTotal # of Comparable Sales (Settled)Absorption Rate (Total Sales/Months)

Months of Unit Supply (Total Listings/Ab.Rate)Total # of Active Comparable Listings


Are foreclosure sales (REO sales) a factor in the project? Yes No If yes, indicate the number of REO listings and explain the trends in listings and sales offoreclosed properties.

Summarize the above trends and address the impact on the subject unit and project.

SignatureAppraiser NameCompany NameCompany AddressState License/Certification # State

Email Address

SignatureSupervisory Appraiser NameCompany NameCompany AddressState License/Certification # State

Email Address

Freddie Mac Form 71 March 2009 Page 1 of 1 Fannie Mae Form 1004MC March 2009

1234567102

XX Sweet Meadow Ct Saint Charles MO 63303Smith, John / Mary

152.50N/AN/A

207,00079N/AN/A

98.62

134.33N/AN/A

235,00042N/AN/A

100.04

103.33

61.8

224,74526

221,37546

99.89

Seller concessions are not prevalent in subject market area, but are evident in some transactions. When used, concessionsare typically a portion of closing costs ($1,000 to $5,000).

Although there have been foreclosures in the past that have affected price levels, few recent foreclosures are evident in subject area and pricerange. Some short sales are evident. Current sales reflect the affect the bank owned sales have had on price levels.

MLS. Data source can not provide the accurate Total # of Comparable Active Listings or MedianComparable List Price or Median Comparable Listings Days on Market during prior time intervals. Information that is available is misleadingand, therefore, not included. Only current active listings and current median for these listings are accurate and are included above.

Comparable sales in the Sales Comparison Approach include only 1.5 and 2 story dwellings within the defined Market Area in subject pricerange ($165,000 to $247,000 or +/- 20% of subject property value). This price range and area is considered competitive with subject property.Housing supply is based on the total number of current active listings divided by the absorbtion rate for the most recent 3 month period andindicates a 1.8 month supply. Since marketing time has historically been at a median of less than 3 months as indicated by Days On Marketabove and recent sales analyzed for this report, this is not considered to be an oversupply. Total number of sales and absorbtion rate indicateno trend. Median sale price indicates no trend. Therefore, price levels in subject market area and price range are considered stable at this time.


109 Barrington Lake Dr., Dardenne Prairie, MO 63368RA001136 MO

[email protected]

Form 1004MC2 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

1234567102

XX Sweet Meadow Ct Saint Charles MO 63303Smith, John / Mary

152.50N/AN/A

207,00079N/AN/A

98.62

134.33N/AN/A

235,00042N/AN/A

100.04

103.33

61.8

224,74526

221,37546

99.89

Seller concessions are not prevalent in subject market area, but are evident in some transactions. When used, concessionsare typically a portion of closing costs ($1,000 to $5,000).

Although there have been foreclosures in the past that have affected price levels, few recent foreclosures are evident in subject area and pricerange. Some short sales are evident. Current sales reflect the affect the bank owned sales have had on price levels.

MLS. Data source can not provide the accurate Total # of Comparable Active Listings or MedianComparable List Price or Median Comparable Listings Days on Market during prior time intervals. Information that is available is misleadingand, therefore, not included. Only current active listings and current median for these listings are accurate and are included above.

Comparable sales in the Sales Comparison Approach include only 1.5 and 2 story dwellings within the defined Market Area in subject pricerange ($165,000 to $247,000 or +/- 20% of subject property value). This price range and area is considered competitive with subject property.Housing supply is based on the total number of current active listings divided by the absorbtion rate for the most recent 3 month period andindicates a 1.8 month supply. Since marketing time has historically been at a median of less than 3 months as indicated by Days On Marketabove and recent sales analyzed for this report, this is not considered to be an oversupply. Total number of sales and absorbtion rate indicateno trend. Median sale price indicates no trend. Therefore, price levels in subject market area and price range are considered stable at this time.


109 Barrington Lake Dr., Dardenne Prairie, MO 63368RA001136 MO

[email protected]

Form 1004MC2 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

File No.Market Conditions Addendum to the Appraisal ReportM

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The purpose of this addendum is to provide the lender/client with a clear and accurate understanding of the market trends and conditions prevalent in the subjectneighborhood. This is a required addendum for all appraisal reports with an effective date on or after April 1, 2009.Property Address City State ZIP CodeBorrowerInstructions: The appraiser must use the information required on this form as the basis for his/her conclusions, and must provide support for those conclusions, regardinghousing trends and overall market conditions as reported in the Neighborhood section of the appraisal report form. The appraiser must fill in all the information to the extentit is available and reliable and must provide analysis as indicated below. If any required data is unavailable or is considered unreliable, the appraiser must provide anexplanation. It is recognized that not all data sources will be able to provide data for the shaded areas below; if it is available, however, the appraiser must include the datain the analysis. If data sources provide the required information as an average instead of the median, the appraiser should report the available figure and identify it as anaverage. Sales and listings must be properties that compete with the subject property, determined by applying the criteria that would be used by a prospective buyer of thesubject property. The appraiser must explain any anomalies in the data, such as seasonal markets, new construction, foreclosures, etc.Inventory Analysis Prior 7–12 Months Prior 4–6 Months Current – 3 Months Overall Trend

Median Sale & List Price, DOM, Sale/List % Prior 7–12 Months Prior 4–6 Months Current – 3 Months

Total # of Comparable Sales (Settled)Absorption Rate (Total Sales/Months)Total # of Comparable Active ListingsMonths of Housing Supply (Total Listings/Ab.Rate)

Median Comparable Sale PriceMedian Comparable Sales Days on MarketMedian Comparable List PriceMedian Comparable Listings Days on MarketMedian Sale Price as % of List Price


Overall TrendIncreasing Stable DecliningDeclining Stable IncreasingIncreasing Stable DecliningDeclining Stable IncreasingIncreasing Stable Declining

Seller-(developer, builder, etc.)paid financial assistance prevalent? Yes No Declining Stable IncreasingExplain in detail the seller concessions trends for the past 12 months (e.g., seller contributions increased from 3% to 5%, increasing use of buydowns, closing costs, condofees, options, etc.).

Are foreclosure sales (REO sales) a factor in the market? Yes No If yes, explain (including the trends in listings and sales of foreclosed properties).

Cite data sources for above information.

Summarize the above information as support for your conclusions in the Neighborhood section of the appraisal report form. If you used any additional information, such asan analysis of pending sales and/or expired and withdrawn listings, to formulate your conclusions, provide both an explanation and support for your conclusions.

If the subject is a unit in a condominium or cooperative project , complete the following: Project Name:Subject Project Data Prior 7–12 Months Prior 4–6 Months Current – 3 Months Overall TrendTotal # of Comparable Sales (Settled)Absorption Rate (Total Sales/Months)

Months of Unit Supply (Total Listings/Ab.Rate)Total # of Active Comparable Listings


Are foreclosure sales (REO sales) a factor in the project? Yes No If yes, indicate the number of REO listings and explain the trends in listings and sales offoreclosed properties.

Summarize the above trends and address the impact on the subject unit and project.

SignatureAppraiser NameCompany NameCompany AddressState License/Certification # State

Email Address

SignatureSupervisory Appraiser NameCompany NameCompany AddressState License/Certification # State

Email Address

Freddie Mac Form 71 March 2009 Page 1 of 1 Fannie Mae Form 1004MC March 2009


File No.

UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM(Source: Fannie Mae UAD Appendix D: UAD Field-Specific Standardization Requirements)

Condition Ratings and Definitions

C1

The improvements have been recently constructed and have not been previously occupied. The entire structure and all components are newand the dwelling features no physical depreciation.

Note: Newly constructed improvements that feature recycled or previously used materials and/or components can be considered new dwellingsprovided that the dwelling is placed on a 100 percent new foundation and the recycled materials and the recycled components have beenrehabilitated/remanufactured into like-new condition. Improvements that have not been previously occupied are not considered “new” if theyhave any significant physical depreciation (that is, newly constructed dwellings that have been vacant for an extended period of time withoutadequate maintenance or upkeep).

C2

The improvements feature no deferred maintenance, little or no physical depreciation, and require no repairs. Virtually all building componentsare new or have been recently repaired, refinished, or rehabilitated. All outdated components and finishes have been updated and/or replacedwith components that meet current standards. Dwellings in this category are either almost new or have been recently completely renovated andare similar in condition to new construction.

Note: The improvements represent a relatively new property that is well maintained with no deferred maintenance and little or no physicaldepreciation, or an older property that has been recently completely renovated.

C3The improvements are well maintained and feature limited physical depreciation due to normal wear and tear. Some components, but not everymajor building component, may be updated or recently rehabilitated. The structure has been well maintained.

Note: The improvement is in its first-cycle of replacing short-lived building components (appliances, floor coverings, HVAC, etc.) and isbeing well maintained. Its estimated effective age is less than its actual age. It also may reflect a property in which the majority ofshort-lived building components have been replaced but not to the level of a complete renovation.

C4The improvements feature some minor deferred maintenance and physical deterioration due to normal wear and tear. The dwelling has beenadequately maintained and requires only minimal repairs to building components/mechanical systems and cosmetic repairs. All major buildingcomponents have been adequately maintained and are functionally adequate.

Note: The estimated effective age may be close to or equal to its actual age. It reflects a property in which some of the short-lived buildingcomponents have been replaced, and some short-lived building components are at or near the end of their physical life expectancy; however,they still function adequately. Most minor repairs have been addressed on an ongoing basis resulting in an adequately maintained property.

C5The improvements feature obvious deferred maintenance and are in need of some significant repairs. Some building components need repairs,rehabilitation, or updating. The functional utility and overall livability is somewhat diminished due to condition, but the dwelling remainsuseable and functional as a residence.

Note: Some significant repairs are needed to the improvements due to the lack of adequate maintenance. It reflects a property in which manyof its short-lived building components are at the end of or have exceeded their physical life expectancy but remain functional.

C6The improvements have substantial damage or deferred maintenance with deficiencies or defects that are severe enough to affect the safety,soundness, or structural integrity of the improvements. The improvements are in need of substantial repairs and rehabilitation, including manyor most major components.

Note: Substantial repairs are needed to the improvements due to the lack of adequate maintenance or property damage. It reflects a propertywith conditions severe enough to affect the safety, soundness, or structural integrity of the improvements.

Quality Ratings and Definitions

Q1

Dwellings with this quality rating are usually unique structures that are individually designed by an architect for a specified user. Suchresidences typically are constructed from detailed architectural plans and specifications and feature an exceptionally high level of workmanshipand exceptionally high-grade materials throughout the interior and exterior of the structure. The design features exceptionally high-qualityexterior refinements and ornamentation, and exceptionally high-quality interior refinements. The workmanship, materials, and finishesthroughout the dwelling are of exceptionally high quality.

Q2Dwellings with this quality rating are often custom designed for construction on an individual property owner’s site. However, dwellings inthis quality grade are also found in high-quality tract developments featuring residence constructed from individual plans or from highlymodified or upgraded plans. The design features detailed, high quality exterior ornamentation, high-quality interior refinements, and detail. Theworkmanship, materials, and finishes throughout the dwelling are generally of high or very high quality.

UAD Version 9/2011 (Updated 1/2014)

1234567102

Form UADDEFINE1A — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

1234567102

Form UADDEFINE1A — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

File No.


Condition Ratings and Definitions

C1

The improvements have been recently constructed and have not been previously occupied. The entire structure and all components are newand the dwelling features no physical depreciation.

Note: Newly constructed improvements that feature recycled or previously used materials and/or components can be considered new dwellingsprovided that the dwelling is placed on a 100 percent new foundation and the recycled materials and the recycled components have beenrehabilitated/remanufactured into like-new condition. Improvements that have not been previously occupied are not considered “new” if theyhave any significant physical depreciation (that is, newly constructed dwellings that have been vacant for an extended period of time withoutadequate maintenance or upkeep).

C2

The improvements feature no deferred maintenance, little or no physical depreciation, and require no repairs. Virtually all building componentsare new or have been recently repaired, refinished, or rehabilitated. All outdated components and finishes have been updated and/or replacedwith components that meet current standards. Dwellings in this category are either almost new or have been recently completely renovated andare similar in condition to new construction.

Note: The improvements represent a relatively new property that is well maintained with no deferred maintenance and little or no physicaldepreciation, or an older property that has been recently completely renovated.

C3The improvements are well maintained and feature limited physical depreciation due to normal wear and tear. Some components, but not everymajor building component, may be updated or recently rehabilitated. The structure has been well maintained.

Note: The improvement is in its first-cycle of replacing short-lived building components (appliances, floor coverings, HVAC, etc.) and isbeing well maintained. Its estimated effective age is less than its actual age. It also may reflect a property in which the majority ofshort-lived building components have been replaced but not to the level of a complete renovation.

C4The improvements feature some minor deferred maintenance and physical deterioration due to normal wear and tear. The dwelling has beenadequately maintained and requires only minimal repairs to building components/mechanical systems and cosmetic repairs. All major buildingcomponents have been adequately maintained and are functionally adequate.

Note: The estimated effective age may be close to or equal to its actual age. It reflects a property in which some of the short-lived buildingcomponents have been replaced, and some short-lived building components are at or near the end of their physical life expectancy; however,they still function adequately. Most minor repairs have been addressed on an ongoing basis resulting in an adequately maintained property.

C5The improvements feature obvious deferred maintenance and are in need of some significant repairs. Some building components need repairs,rehabilitation, or updating. The functional utility and overall livability is somewhat diminished due to condition, but the dwelling remainsuseable and functional as a residence.

Note: Some significant repairs are needed to the improvements due to the lack of adequate maintenance. It reflects a property in which manyof its short-lived building components are at the end of or have exceeded their physical life expectancy but remain functional.

C6The improvements have substantial damage or deferred maintenance with deficiencies or defects that are severe enough to affect the safety,soundness, or structural integrity of the improvements. The improvements are in need of substantial repairs and rehabilitation, including manyor most major components.

Note: Substantial repairs are needed to the improvements due to the lack of adequate maintenance or property damage. It reflects a propertywith conditions severe enough to affect the safety, soundness, or structural integrity of the improvements.

Quality Ratings and Definitions

Q1

Dwellings with this quality rating are usually unique structures that are individually designed by an architect for a specified user. Suchresidences typically are constructed from detailed architectural plans and specifications and feature an exceptionally high level of workmanshipand exceptionally high-grade materials throughout the interior and exterior of the structure. The design features exceptionally high-qualityexterior refinements and ornamentation, and exceptionally high-quality interior refinements. The workmanship, materials, and finishesthroughout the dwelling are of exceptionally high quality.

Q2Dwellings with this quality rating are often custom designed for construction on an individual property owner’s site. However, dwellings inthis quality grade are also found in high-quality tract developments featuring residence constructed from individual plans or from highlymodified or upgraded plans. The design features detailed, high quality exterior ornamentation, high-quality interior refinements, and detail. Theworkmanship, materials, and finishes throughout the dwelling are generally of high or very high quality.




Quality Ratings and Definitions (continued)

Q3Dwellings with this quality rating are residences of higher quality built from individual or readily available designer plans in above-standardresidential tract developments or on an individual property owner’s site. The design includes significant exterior ornamentation and interiorsthat are well finished. The workmanship exceeds acceptable standards and many materials and finishes throughout the dwelling have beenupgraded from “stock” standards.

Q4Dwellings with this quality rating meet or exceed the requirements of applicable building codes. Standard or modified standard building plansare utilized and the design includes adequate fenestration and some exterior ornamentation and interior refinements. Materials, workmanship,finish, and equipment are of stock or builder grade and may feature some upgrades.

Q5Dwellings with this quality rating feature economy of construction and basic functionality as main considerations. Such dwellings feature aplain design using readily available or basic floor plans featuring minimal fenestration and basic finishes with minimal exterior ornamentationand limited interior detail. These dwellings meet minimum building codes and are constructed with inexpensive, stock materialswith limited refinements and upgrades.

Q6Dwellings with this quality rating are of basic quality and lower cost; some may not be suitable for year-round occupancy. Such dwellingsare often built with simple plans or without plans, often utilizing the lowest quality building materials. Such dwellings are often built orexpanded by persons who are professionally unskilled or possess only minimal construction skills. Electrical, plumbing, and other mechanicalsystems and equipment may be minimal or non-existent. Older dwellings may feature one or more substandard or non-conforming additionsto the original structure

Definitions of Not Updated, Updated, and Remodeled

Not Updated

Little or no updating or modernization. This description includes, but is not limited to, new homes.Residential properties of fifteen years of age or less often reflect an original condition with no updating, if no majorcomponents have been replaced or updated. Those over fifteen years of age are also considered not updated if theappliances, fixtures, and finishes are predominantly dated. An area that is ‘Not Updated’ may still be well maintainedand fully functional, and this rating does not necessarily imply deferred maintenance or physical/functional deterioration.

UpdatedThe area of the home has been modified to meet current market expectations. These modificationsare limited in terms of both scope and cost.

An updated area of the home should have an improved look and feel, or functional utility. Changes that constituteupdates include refurbishment and/or replacing components to meet existing market expectations. Updates do notinclude significant alterations to the existing structure.

RemodeledSignificant finish and/or structural changes have been made that increase utility and appeal throughcomplete replacement and/or expansion.A remodeled area reflects fundamental changes that include multiple alterations. These alterations may includesome or all of the following: replacement of a major component (cabinet(s), bathtub, or bathroom tile), relocationof plumbing/gas fixtures/appliances, significant structural alterations (relocating walls, and/or the addition of)square footage). This would include a complete gutting and rebuild.

Explanation of Bathroom Count

Three-quarter baths are counted as a full bath in all cases. Quarter baths (baths that feature only a toilet) are notincluded in the bathroom count. The number of full and half baths is reported by separating the two values using aperiod, where the full bath count is represented to the left of the period and the half bath count is represented to theright of the period.

Example:3.2 indicates three full baths and two half baths.


Form UADDEFINE1A — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODEForm UADDEFINE1A — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE


Quality Ratings and Definitions (continued)

Q3Dwellings with this quality rating are residences of higher quality built from individual or readily available designer plans in above-standardresidential tract developments or on an individual property owner’s site. The design includes significant exterior ornamentation and interiorsthat are well finished. The workmanship exceeds acceptable standards and many materials and finishes throughout the dwelling have beenupgraded from “stock” standards.

Q4Dwellings with this quality rating meet or exceed the requirements of applicable building codes. Standard or modified standard building plansare utilized and the design includes adequate fenestration and some exterior ornamentation and interior refinements. Materials, workmanship,finish, and equipment are of stock or builder grade and may feature some upgrades.

Q5Dwellings with this quality rating feature economy of construction and basic functionality as main considerations. Such dwellings feature aplain design using readily available or basic floor plans featuring minimal fenestration and basic finishes with minimal exterior ornamentationand limited interior detail. These dwellings meet minimum building codes and are constructed with inexpensive, stock materialswith limited refinements and upgrades.

Q6Dwellings with this quality rating are of basic quality and lower cost; some may not be suitable for year-round occupancy. Such dwellingsare often built with simple plans or without plans, often utilizing the lowest quality building materials. Such dwellings are often built orexpanded by persons who are professionally unskilled or possess only minimal construction skills. Electrical, plumbing, and other mechanicalsystems and equipment may be minimal or non-existent. Older dwellings may feature one or more substandard or non-conforming additionsto the original structure

Definitions of Not Updated, Updated, and Remodeled

Not Updated

Little or no updating or modernization. This description includes, but is not limited to, new homes.Residential properties of fifteen years of age or less often reflect an original condition with no updating, if no majorcomponents have been replaced or updated. Those over fifteen years of age are also considered not updated if theappliances, fixtures, and finishes are predominantly dated. An area that is ‘Not Updated’ may still be well maintainedand fully functional, and this rating does not necessarily imply deferred maintenance or physical/functional deterioration.

UpdatedThe area of the home has been modified to meet current market expectations. These modificationsare limited in terms of both scope and cost.

An updated area of the home should have an improved look and feel, or functional utility. Changes that constituteupdates include refurbishment and/or replacing components to meet existing market expectations. Updates do notinclude significant alterations to the existing structure.

RemodeledSignificant finish and/or structural changes have been made that increase utility and appeal throughcomplete replacement and/or expansion.A remodeled area reflects fundamental changes that include multiple alterations. These alterations may includesome or all of the following: replacement of a major component (cabinet(s), bathtub, or bathroom tile), relocationof plumbing/gas fixtures/appliances, significant structural alterations (relocating walls, and/or the addition of)square footage). This would include a complete gutting and rebuild.

Explanation of Bathroom Count

Three-quarter baths are counted as a full bath in all cases. Quarter baths (baths that feature only a toilet) are notincluded in the bathroom count. The number of full and half baths is reported by separating the two values using aperiod, where the full bath count is represented to the left of the period and the half bath count is represented to theright of the period.

Example:3.2 indicates three full baths and two half baths.




Abbreviations Used in Data Standardization Text

Abbreviation Full Name Fields Where This Abbreviation May AppearA Adverse Location & Viewac Acres Area, SiteAdjPrk Adjacent to Park LocationAdjPwr Adjacent to Power Lines LocationArmLth Arms Length Sale Sale or Financing ConcessionsAT Attached Structure Design (Style)B Beneficial Location & Viewba Bathroom(s) Basement & Finished Rooms Below Gradebr Bedroom Basement & Finished Rooms Below GradeBsyRd Busy Road Locationc Contracted Date Date of Sale/TimeCash Cash Sale or Financing ConcessionsComm Commercial Influence LocationConv Conventional Sale or Financing Concessionscp Carport Garage/CarportCrtOrd Court Ordered Sale Sale or Financing ConcessionsCtySky City View Skyline View ViewCtyStr City Street View Viewcv Covered Garage/CarportDOM Days On Market Data SourcesDT Detached Structure Design (Style)dw Driveway Garage/Carporte Expiration Date Date of Sale/TimeEstate Estate Sale Sale or Financing ConcessionsFHA Federal Housing Authority Sale or Financing Concessionsg Garage Garage/Carportga Attached Garage Garage/Carportgbi Built-in Garage Garage/Carportgd Detached Garage Garage/CarportGlfCse Golf Course LocationGlfvw Golf Course View ViewGR Garden Design (Style)HR High Rise Design (Style)in Interior Only Stairs Basement & Finished Rooms Below GradeInd Industrial Location & ViewListing Listing Sale or Financing ConcessionsLndfl Landfill LocationLtdSght Limited Sight ViewMR Mid-rise Design (Style)Mtn Mountain View ViewN Neutral Location & ViewNonArm Non-Arms Length Sale Sale or Financing Concessionso Other Basement & Finished Rooms Below GradeO Other Design (Style)op Open Garage/CarportPrk Park View ViewPstrl Pastoral View ViewPwrLn Power Lines ViewPubTrn Public Transportation LocationRelo Relocation Sale Sale or Financing ConcessionsREO REO Sale Sale or Financing ConcessionsRes Residential Location & ViewRH USDA - Rural Housing Sale or Financing Concessionsrr Recreational (Rec) Room Basement & Finished Rooms Below GradeRT Row or Townhouse Design (Style)s Settlement Date Date of Sale/TimeSD Semi-detached Structure Design (Style)Short Short Sale Sale or Financing Concessionssf Square Feet Area, Site, Basementsqm Square Meters Area, SiteUnk Unknown Date of Sale/TimeVA Veterans Administration Sale or Financing Concessionsw Withdrawn Date Date of Sale/Timewo Walk Out Basement Basement & Finished Rooms Below GradeWoods Woods View ViewWtr Water View ViewWtrFr Water Frontage Locationwu Walk Up Basement Basement & Finished Rooms Below Grade


Form UADDEFINE1A — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODEForm UADDEFINE1A — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE


Abbreviations Used in Data Standardization Text

Abbreviation Full Name Fields Where This Abbreviation May AppearA Adverse Location & Viewac Acres Area, SiteAdjPrk Adjacent to Park LocationAdjPwr Adjacent to Power Lines LocationArmLth Arms Length Sale Sale or Financing ConcessionsAT Attached Structure Design (Style)B Beneficial Location & Viewba Bathroom(s) Basement & Finished Rooms Below Gradebr Bedroom Basement & Finished Rooms Below GradeBsyRd Busy Road Locationc Contracted Date Date of Sale/TimeCash Cash Sale or Financing ConcessionsComm Commercial Influence LocationConv Conventional Sale or Financing Concessionscp Carport Garage/CarportCrtOrd Court Ordered Sale Sale or Financing ConcessionsCtySky City View Skyline View ViewCtyStr City Street View Viewcv Covered Garage/CarportDOM Days On Market Data SourcesDT Detached Structure Design (Style)dw Driveway Garage/Carporte Expiration Date Date of Sale/TimeEstate Estate Sale Sale or Financing ConcessionsFHA Federal Housing Authority Sale or Financing Concessionsg Garage Garage/Carportga Attached Garage Garage/Carportgbi Built-in Garage Garage/Carportgd Detached Garage Garage/CarportGlfCse Golf Course LocationGlfvw Golf Course View ViewGR Garden Design (Style)HR High Rise Design (Style)in Interior Only Stairs Basement & Finished Rooms Below GradeInd Industrial Location & ViewListing Listing Sale or Financing ConcessionsLndfl Landfill LocationLtdSght Limited Sight ViewMR Mid-rise Design (Style)Mtn Mountain View ViewN Neutral Location & ViewNonArm Non-Arms Length Sale Sale or Financing Concessionso Other Basement & Finished Rooms Below GradeO Other Design (Style)op Open Garage/CarportPrk Park View ViewPstrl Pastoral View ViewPwrLn Power Lines ViewPubTrn Public Transportation LocationRelo Relocation Sale Sale or Financing ConcessionsREO REO Sale Sale or Financing ConcessionsRes Residential Location & ViewRH USDA - Rural Housing Sale or Financing Concessionsrr Recreational (Rec) Room Basement & Finished Rooms Below GradeRT Row or Townhouse Design (Style)s Settlement Date Date of Sale/TimeSD Semi-detached Structure Design (Style)Short Short Sale Sale or Financing Concessionssf Square Feet Area, Site, Basementsqm Square Meters Area, SiteUnk Unknown Date of Sale/TimeVA Veterans Administration Sale or Financing Concessionsw Withdrawn Date Date of Sale/Timewo Walk Out Basement Basement & Finished Rooms Below GradeWoods Woods View ViewWtr Water View ViewWtrFr Water Frontage Locationwu Walk Up Basement Basement & Finished Rooms Below Grade




Form PICPIX.SR — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Subject Photo PageSmith, John / MaryXX Sweet Meadow CtSaint Charles St. Charles MO 63303Sample Lender

Subject Front

Sales PriceGross Living AreaTotal RoomsTotal BedroomsTotal BathroomsLocationViewSiteQualityAge

XX Sweet Meadow Ct206,0002,205842.1N;Res;N;Res;10454 sfQ427

Subject Rear

Subject Street

Borrower/Client

Lender/Client

Form PICPIX.SR — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Subject Photo PageSmith, John / MaryXX Sweet Meadow CtSaint Charles St. Charles MO 63303Sample Lender

Subject Front

Sales PriceGross Living AreaTotal RoomsTotal BedroomsTotal BathroomsLocationViewSiteQualityAge

XX Sweet Meadow Ct206,0002,205842.1N;Res;N;Res;10454 sfQ427

Subject Rear

Subject Street

Borrower/Client

Lender/Client




Form PICINT15 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Interior PhotosSmith, John / MaryXX Sweet Meadow CtSaint Charles St. Charles MO 63303Sample Lender

Living Room Dining Room Kitchen

Family Room 1/2 Bath Laundry

Master Bath Same Master Bath Bath

Master Bedroom Bedroom Bedroom

Bedroom Unfinished Basement

Borrower/Client

Lender/Client

Form PICINT15 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Interior PhotosSmith, John / MaryXX Sweet Meadow CtSaint Charles St. Charles MO 63303Sample Lender

Living Room Dining Room Kitchen

Family Room 1/2 Bath Laundry

Master Bath Same Master Bath Bath

Master Bedroom Bedroom Bedroom

Bedroom Unfinished Basement

Borrower/Client

Lender/Client




Form PICPIX.CR — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Comparable Photo PageSmith, John / MaryXX Sweet Meadow CtSaint Charles St. Charles MO 63303Sample Lender

Comparable 1

Prox. to SubjectSales PriceGross Living AreaTotal RoomsTotal BedroomsTotal BathroomsLocationViewSiteQualityAge

XXXX Eagles Crest Ln0.68 miles NW224,4892,180732.1N;Res;N;Res;13068 sfQ426

Comparable 2


XXXX Eagles Hill Rdg0.53 miles W220,0002,168842.1N;Res;N;Res;8712 sfQ413

Comparable 3


XXX Brookford Ct0.54 miles NW205,0001,982842.1N;Res;B;Woods;7841 sfQ423

Borrower/Client

Lender/Client



Comparable 1


XXXX Eagles Crest Ln0.68 miles NW224,4892,180732.1N;Res;N;Res;13068 sfQ426

Comparable 2


XXXX Eagles Hill Rdg0.53 miles W220,0002,168842.1N;Res;N;Res;8712 sfQ413

Comparable 3


XXX Brookford Ct0.54 miles NW205,0001,982842.1N;Res;B;Woods;7841 sfQ423

Borrower/Client

Lender/Client






Comparable 4


XXX Pond Hollow Dr0.20 miles NE222,7502,110842.1N;Res;N;Res;11326 sfQ421

Comparable 5


X Moss Pointe Ct0.26 miles NW220,0002,058842.1N;Res;N;Res;7405 sfQ419

Comparable 6


Borrower/Client

Lender/Client



Comparable 4


XXX Pond Hollow Dr0.20 miles NE222,7502,110842.1N;Res;N;Res;11326 sfQ421

Comparable 5


X Moss Pointe Ct0.26 miles NW220,0002,058842.1N;Res;N;Res;7405 sfQ419

Comparable 6


Borrower/Client

Lender/Client



2.8'

2.8'

14.5'28

'22'

8.5'

20'

5'

28' 28'


Form SKT.BldSkI — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Building SketchSmith, John / MaryXX Sweet Meadow CtSaint Charles St. Charles MO 63303Sample Lender

Borrower/Client

Lender/Client

2.8'

2.8'

14.5'28

'22'

8.5'

20'

5'

28' 28'

Form SKT.BldSkI — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Building SketchSmith, John / MaryXX Sweet Meadow CtSaint Charles St. Charles MO 63303Sample Lender

Borrower/Client

Lender/Client




Form MAP.LOC — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Location MapSmith, John / MaryXX Sweet Meadow CtSaint Charles St. Charles MO 63303Sample Lender

Borrower/Client

Lender/Client


Location MapSmith, John / MaryXX Sweet Meadow CtSaint Charles St. Charles MO 63303Sample Lender

Borrower/Client

Lender/Client





Aerial ViewSmith, John / MaryXX Sweet Meadow CtSaint Charles St. Charles MO 63303Sample Lender

Borrower/Client

Lender/Client


Aerial ViewSmith, John / MaryXX Sweet Meadow CtSaint Charles St. Charles MO 63303Sample Lender

Borrower/Client

Lender/Client



APPRAISAL LICENSE / CERTIFICATION

Form SCNLGL — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

APPRAISAL LICENSE / CERTIFICATION

Form SCNLGL — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE


appraisal report uniform residential appraisal report

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