Page #1 LAND APPRAISAL REPORT - Jordan Group

1 land APPRAISAL REPORTFile TractMap ReferenceProperty AddressCityCountyStateZip CodeLegal DescriptionSale Price $Date of SaleLoan Rights AppraisedFeeLeaseholdDe Minimis PUDA ctual Real Estate Taxes $(yr)Loan charges to be paid by seller $Other sales concessionsLender/ClientAddressOccupantA ppraiserInstructions to AppraiserNEIGHBORHOODL ocationUrbanSuburbanRuralBuilt UpOver 75%25% to 75%Under 25%Growth RateFully ValuesIncreasingStableDecliningDemand/Su pplyShortageIn BalanceOversupplyMarketing TimeUnder 3 6 land Use% 1 Family% 2-4 Family% Condo% Commercial% Industrial% Vacant%Change in Present land UseNot LikelyLikely (*)Taking Place (*)(*)

2 FromToPredominant OccupancyOwnerTenant% VacantSingle Family Price Range$to $Predominant Value $Single Family Ageyrs. toyrs. Predominant Avg. Fair PoorEmployment StabilityConvenience to EmploymentConvenience to ShoppingConvenience to SchoolsAdequacy of Public TransportationRecreational FacilitiesAdequacy of UtilitiesProperty CompatibilityProtection from Detrimental ConditionsPolice and Fire ProtectionGeneral Appearance of PropertiesAppeal to MarketComments including those factors, favorable or unfavorable, affecting marketability ( public parks, schools, view, noise):SITED imensions=Sq.

3 Ft. or AcresCorner LotZoning classificationPresent Improvementsdodo not conform to zoning regulationsHighest and best usePresent useOther (specify) SewerUnderground Elect. & (Describe)OFF SITE IMPROVEMENTSS treet AccessPublicPrivateSurfaceMaintenancePub licPrivateStorm SewerCurb/GutterSidewalkStreet LightsTopoSizeShapeViewDrainageIs the property located in a HUD Identified Special Flood Hazard Area?NoYesComments (favorable or unfavorable including any apparent adverse easements, encroachments, or other adverse conditions):MARKET DATA ANALYSISThe undersigned has recited three recent sales of properties most similar and proximate to subject and has considered these in the market analysis.

4 The description includes a dollaradjustment reflecting market reaction to those items of significant variation between the subject and comparable properties. If a significant item in the comparable property is superiorto or more favorable than the subject property, a minus (-) adjustment is made thus reducing the indicated value of subject; if a significant item in the comparable is inferior to or lessfavorable than the subject property, a plus (+) adjustment is made thus increasing the indicated value of the PROPERTYCOMPARABLE NO.

5 1 COMPARABLE NO. 2 COMPARABLE NO. 3 AddressProximity to SubjectSales Price$$$$Price$$$$Data SourceDate of Sale andDESCRIPTIONDESCRIPTIONDESCRIPTIONDESC RIPTION+( )$ Adjust.+( )$ Adjust.+( )$ Adjust. Time AdjustmentLocationSite/ViewSales or FinancingConcessionsNet Adj. (Total)+++$$Indicated Valueof Subject $$$$RECONCILIATIONC omments on Market Data:Comments and Conditions of APPRAISAL :Final Reconciliation:I ESTIMATE THE MARKET VALUE, AS DEFINED, OF SUBJECT PROPERTY AS OFto be $Appraiser(s)Review Appraiser (if applicable)DidDid Not Physically Inspect Property[Y2K]Form LND "WinTOTAL" APPRAISAL software by a la mode, inc.

6 1-800-ALAMODEO ther FeatureOther FeatureNet%Net%Net%The Jordan Real Estate Group (800) 432-0052 Form LND "WinTOTAL" APPRAISAL software by a la mode, inc. 1-800-ALAMODEO ther FeatureOther FeatureNet%Net%Net%The Jordan Real Estate Group (800) 432-0052 land APPRAISAL REPORTFile TractMap ReferenceProperty AddressCityCountyStateZip CodeLegal DescriptionSale Price $Date of SaleLoan Rights AppraisedFeeLeaseholdDe Minimis PUDA ctual Real Estate Taxes $(yr)Loan charges to be paid by seller $Other sales concessionsLender/ClientAddressOccupantA ppraiserInstructions to AppraiserNEIGHBORHOODL ocationUrbanSuburbanRuralBuilt UpOver 75%25% to 75%Under 25%Growth RateFully ValuesIncreasingStableDecliningDemand/Su pplyShortageIn BalanceOversupplyMarketing TimeUnder 3 6 land Use% 1 Family% 2-4 Family% Condo% Commercial% Industrial% Vacant%Change in Present land UseNot LikelyLikely (*)Taking Place (*)(*)

7 FromToPredominant OccupancyOwnerTenant% VacantSingle Family Price Range$to $Predominant Value $Single Family Ageyrs. toyrs. Predominant Avg. Fair PoorEmployment StabilityConvenience to EmploymentConvenience to ShoppingConvenience to SchoolsAdequacy of Public TransportationRecreational FacilitiesAdequacy of UtilitiesProperty CompatibilityProtection from Detrimental ConditionsPolice and Fire ProtectionGeneral Appearance of PropertiesAppeal to MarketComments including those factors, favorable or unfavorable, affecting marketability ( public parks, schools, view, noise):SITED imensions=Sq.

8 Ft. or AcresCorner LotZoning classificationPresent Improvementsdodo not conform to zoning regulationsHighest and best usePresent useOther (specify) SewerUnderground Elect. & (Describe)OFF SITE IMPROVEMENTSS treet AccessPublicPrivateSurfaceMaintenancePub licPrivateStorm SewerCurb/GutterSidewalkStreet LightsTopoSizeShapeViewDrainageIs the property located in a HUD Identified Special Flood Hazard Area?NoYesComments (favorable or unfavorable including any apparent adverse easements, encroachments, or other adverse conditions):MARKET DATA ANALYSISThe undersigned has recited three recent sales of properties most similar and proximate to subject and has considered these in the market analysis.

9 The description includes a dollaradjustment reflecting market reaction to those items of significant variation between the subject and comparable properties. If a significant item in the comparable property is superiorto or more favorable than the subject property, a minus (-) adjustment is made thus reducing the indicated value of subject; if a significant item in the comparable is inferior to or lessfavorable than the subject property, a plus (+) adjustment is made thus increasing the indicated value of the PROPERTYCOMPARABLE NO.

10 1 COMPARABLE NO. 2 COMPARABLE NO. 3 AddressProximity to SubjectSales Price$$$$Price$$$$Data SourceDate of Sale andDESCRIPTIONDESCRIPTIONDESCRIPTIONDESC RIPTION+( )$ Adjust.+( )$ Adjust.+( )$ Adjust. Time AdjustmentLocationSite/ViewSales or FinancingConcessionsNet Adj. (Total)+++$$Indicated Valueof Subject $$$$RECONCILIATIONC omments on Market Data:Comments and Conditions of APPRAISAL :Final Reconciliation:I ESTIMATE THE MARKET VALUE, AS DEFINED, OF SUBJECT PROPERTY AS OFto be $Appraiser(s)Review Appraiser (if applicable)DidDid Not Physically Inspect Property[Y2K]Page #1