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LOCATED AT:
FOR:
AS OF:
BY:
Simmons R.E. Appraisal Svs.
Form GA2 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
1903 Losey Blvd STANNER ADDITION LOT 1 BLOCK 1 & VAC W 8FT ALLEN ST ADJ ON E IN DOC 1343349
La Crosse, WI 54601
La Crosse County400 4th St North, Room 1370La Crosse, WI 54601-3200
10/04/2011
Emily DiefenbaughSimmons R.E. Appraisals, LLC
6579 Manna AveCashton, WI 54619
APPRAISAL OF REAL PROPERTY
608-785-9770
Simmons R.E. Appraisal Svs.
Form GA2 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
1903 Losey Blvd STANNER ADDITION LOT 1 BLOCK 1 & VAC W 8FT ALLEN ST ADJ ON E IN DOC 1343349
La Crosse, WI 54601
La Crosse County400 4th St North, Room 1370La Crosse, WI 54601-3200
10/04/2011
Emily DiefenbaughSimmons R.E. Appraisals, LLC
6579 Manna AveCashton, WI 54619
APPRAISAL OF REAL PROPERTY
608-785-9770
LOCATED AT:
FOR:
AS OF:
BY:
Page #1Main File No. 11-00478
File No.Property AddressCity County State Zip Code
TABLE OF CONTENTS
11-00478La Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Cover Page ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Cover Letter ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................URAR ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Supplemental Addendum w/sig block ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................USPAP Compliance Addendum ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Multi-Purpose Supplemental Addendum ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................GP Residential Addendum ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Subject Photos ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Photograph Addendum ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Photograph Addendum ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Photograph Addendum ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Photograph Addendum ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Building Sketch (Page - 1) ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Building Sketch (Page - 2) ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................2010 Property Record ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Comparable Photos 1-3 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Location Map ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Flood Map ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
12356791112131415161718192021
Form TOCP3X5 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Client
Lender
11-00478La Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Cover Page ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Cover Letter ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................URAR ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Supplemental Addendum w/sig block ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................USPAP Compliance Addendum ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Multi-Purpose Supplemental Addendum ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................GP Residential Addendum ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Subject Photos ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Photograph Addendum ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Photograph Addendum ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Photograph Addendum ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Photograph Addendum ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Building Sketch (Page - 1) ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Building Sketch (Page - 2) ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................2010 Property Record ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Comparable Photos 1-3 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Location Map ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Flood Map ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
12356791112131415161718192021
Form TOCP3X5 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Client
Lender
File No.Property AddressCity County State Zip Code
TABLE OF CONTENTS
INVOICEFROM:
Telephone Number: Fax Number:
TO:
Telephone Number: Fax Number:Alternate Number: E-Mail:
INVOICE NUMBER
DATE
REFERENCEInternal Order #:
Lender Case #:
Client File #:
Main File # on form:
Other File # on form:
Federal Tax ID:
Employer ID:
Lender: Client:Purchaser/Borrower:
Property Address:City:
County: State: Zip:Legal Description:
$
DESCRIPTION
FEES AMOUNT
SUBTOTAL
PAYMENTS AMOUNT
Check #: Date: Description:Check #: Date: Description:Check #: Date: Description:
SUBTOTAL
TOTAL DUE
Form NIV5 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODESimmons R.E. Appraisal Svs.
Emily R. DiefenbaughSimmons R.E. Appraisals, LLC6579 Manna AveCashton, WI [email protected]
608-633-2990
La Crosse CountyRe: 1903 Losey Blvd S400 4th St North, Room 1370La Crosse, WI 54601-3200
11-00478
10/11/2011
11-00478
11-00478
27-1444329
La Crosse County La Crosse CountyN/A1903 Losey Blvd SLa CrosseLa Crosse WI 54601TANNER ADDITION LOT 1 BLOCK 1 & VAC W 8FT ALLEN ST ADJ ON E IN DOC 1343349
Single Family Residential 350.00
350.00
350.00
608-654-5482
Form NIV5 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODESimmons R.E. Appraisal Svs.
Emily R. DiefenbaughSimmons R.E. Appraisals, LLC6579 Manna AveCashton, WI [email protected]
608-633-2990
La Crosse CountyRe: 1903 Losey Blvd S400 4th St North, Room 1370La Crosse, WI 54601-3200
11-00478
10/11/2011
11-00478
11-00478
27-1444329
La Crosse County La Crosse CountyN/A1903 Losey Blvd SLa CrosseLa Crosse WI 54601TANNER ADDITION LOT 1 BLOCK 1 & VAC W 8FT ALLEN ST ADJ ON E IN DOC 1343349
Single Family Residential 350.00
350.00
350.00
608-654-5482
INVOICEFROM:
Telephone Number: Fax Number:
TO:
Telephone Number: Fax Number:Alternate Number: E-Mail:
INVOICE NUMBER
DATE
REFERENCEInternal Order #:
Lender Case #:
Client File #:
Main File # on form:
Other File # on form:
Federal Tax ID:
Employer ID:
Lender: Client:Purchaser/Borrower:
Property Address:City:
County: State: Zip:Legal Description:
$
DESCRIPTION
FEES AMOUNT
SUBTOTAL
PAYMENTS AMOUNT
Check #: Date: Description:Check #: Date: Description:Check #: Date: Description:
SUBTOTAL
TOTAL DUE
File No.
Form DCVR — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
11-00478
Page #2Main File No. 11-00478
Simmons R.E. Appraisals, LLC 6579 Manna Ave. Cashton, WI 54619 608-633-2990
October 12, 2011
Client: La Crosse CountyAttn: James Speropulos 400 4th Street N, Rm 1370 La Crosse, WI 54601Phone: 608-785-9770
Property: 1903 Losey Blvd S La Crosse, WI 54601
Purpose: Market ValueFile #: 11-00478
Dear Mr. Speropulos,
In accordance with your request, I have conducted a Complete Appraisal and prepared a Summary AppraisalReport of the real property located at 1903 Losey Blvd S, La Crosse, WI 54601.
The purpose of the Summary Appraisal is to provide an opinion of the market value of the property described in thebody of this report.
Enclosed, please find the Summary Appraisal which describes certain data gathered during our investigation of theproperty. The methods of approach and reasoning in the valuation of the various physical and economic factors ofthe subject property are contained in this report.
An inspection of the property and a study of pertinent factors, including valuation trends and an analysis ofneighborhood data, led the appraiser to the conclusion that the market value, as of 10/04/2011 is:
$45,000
The opinion of value expressed in this report is contingent upon the Limiting Conditions attached to this report.
It has been a pleasure to assist you. If we may be of further service to you in the future please let us know.
Respectfully,
Simmons R.E. Appraisals, LLC
Emily R. DiefenbaughEmily R. DiefenbaughWI Certification #1836-009
Property Description File No.UNIFORM RESIDENTIAL APPRAISAL REPORTSU
BJEC
T
Property AddressLegal DescriptionAssessor's Parcel No.BorrowerProperty rights appraisedNeighborhood or Project NameSale Price $Lender/ClientAppraiserLocationBuilt upGrowth rateProperty valuesDemand/supplyMarketing time
City State Zip CodeCounty
Tax Year R.E. Taxes $ Special Assessments $Current Owner Occupant: Owner Tenant Vacant
Fee Simple Leasehold Project Type PUD Condominium (HUD/VA only) HOA $ /Mo.Map Reference Census Tract
Date of Sale Description and $ amount of loan charges/concessions to be paid by sellerAddressAddress
NEIG
HBOR
HOOD
Predominantoccupancy
Single family housing Present land use % Land use change
Note: Race and the racial composition of the neighborhood are not appraisal factors.
Predominant
UrbanOver 75%RapidIncreasingShortageUnder 3 mos.
Suburban25-75%StableStableIn balance3-6 mos.
RuralUnder 25%SlowDecliningOver supplyOver 6 mos.
OwnerTenantVacant (0-5%)Vac.(over 5%)
PRICE AGE$(000) (yrs)
LowHigh
One family2-4 familyMulti-familyCommercial
Not likelyIn process
Likely
To:
Neighborhood boundaries and characteristics:
Factors that affect the marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.):
Market conditions in the subject neighborhood (including support for the above conclusions related to the trend of property values, demand/supply, and marketing time-- such as data on competitive properties for sale in the neighborhood, description of the prevalence of sales and financing concessions, etc.):
PUD
Project Information for PUDs (If applicable) - - Is the developer/builder in control of the Home Owners' Association (HOA)? Yes NoApproximate total number of units in the subject project Approximate total number of units for sale in the subject projectDescribe common elements and recreational facilities:
SITE
DimensionsSite areaSpecific zoning classification and descriptionZoning complianceHighest & best use as improved:
Corner Lot Yes No
Legal Legal nonconforming (Grandfathered use) Illegal No zoningPresent use Other use (explain)
Utilities Off-site ImprovementsElectricityGasWaterSanitary sewerStorm sewer
Public Other Type Public PrivateStreetCurb/gutterSidewalkStreet lightsAlley
TopographySizeShapeDrainageViewLandscapingDriveway SurfaceApparent easementsFEMA Special Flood Hazard AreaFEMA ZoneFEMA Map No.
Map DateYes No
Comments (apparent adverse easements, encroachments, special assessments, slide areas, illegal or legal nonconforming zoning use, etc.):
DESC
RIPT
ION
OF IM
PROV
EMEN
TS
GENERAL DESCRIPTION
No. of UnitsNo. of StoriesType (Det./Att.)Design (Style)Existing/ProposedAge (Yrs.)Effective Age (Yrs.)
EXTERIOR DESCRIPTION
FoundationExterior WallsRoof SurfaceGutters & Dwnspts.Window TypeStorm/ScreensManufactured House
FOUNDATION
SlabCrawl SpaceBasementSump PumpDampnessSettlementInfestation
BASEMENT
Area Sq. Ft.% FinishedCeilingWallsFloorOutside Entry
INSULATION
RoofCeilingWallsFloorNoneUnknown
ROOMS
BasementLevel 1Level 2
Finished area above grade contains: Rooms; Bedroom(s); Bath(s); Square Feet of Gross Living Area
Foyer Living Dining Kitchen Den Family Rm. Rec. Rm. Bedrooms # Baths Laundry Other Area Sq. Ft.
INTERIOR Materials/ConditionFloorsWallsTrim/FinishBath FloorBath WainscotDoors
HEATING
TypeFuelConditionCOOLING
CentralOtherCondition
KITCHEN EQUIP.
RefrigeratorRange/OvenDisposalDishwasherFan/HoodMicrowaveWasher/Dryer
ATTIC
NoneStairsDrop StairScuttleFloorHeatedFinished
AMENITIES
Fireplace(s) #PatioDeckPorchFencePool
CAR STORAGE:
NoneGarage
AttachedDetachedBuilt-In
CarportDriveway
# of cars
COM
MEN
TS
Additional features (special energy efficient items, etc.):
Condition of the improvements, depreciation (physical, functional, and external), repairs needed, quality of construction, remodeling/additions, etc.:
Adverse environmental conditions (such as, but not limited to, hazardous wastes, toxic substances, etc.) present in the improvements, on the site, or in theimmediate vicinity of the subject property.:
Freddie Mac Form 70 6/93 Fannie Mae Form 1004 6/93PAGE 1 OF 2Form UA2 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
11-004781903 Losey Blvd S La Crosse WI 54601TANNER ADDITION LOT 1 BLOCK 1 & VAC W 8FT ALLEN ST ADJ ON E IN DOC 1343349La Crosse
17-50128-10 2010 1,957.94 74.60N/A La Crosse County
City of La Crosse 29100 0011.01NA N/A N/ALa Crosse County 400 4th St North, Room 1370, La Crosse, WI 54601-3200Emily Diefenbaugh 6579 Manna Ave, Cashton, WI 54619
70,000110,000
90,000
5070
60
25
1Other 74
Subject property is located in the City of La Crosse. Subject is southeast of the downtown (proper)area and is located on one of the main st running N-S through the city. Property bounded by Travis St (N), Barlow St (S), Allen St (E).
Subject site is located within a short walk to most major conveniences; i.e., schools, shopping and religious affiliations, parks and recreation.Transportation out of the immediate area is unrestricted over good roadways with interstate access approx 15 minutes away. Homesimmediately surrounding the subject are similar in age and lot size but style and condition vary.
Market conditions are constantly changing. The county has a low unemployment rate (6%) in comparison to the state of Wisconsin (7.3%).Employment in the area is relatively stable within the area.
.148 Ac6,447 SF
G1/Residential
NaturalMacadam
None
Level.148 AcRectangleAdequateCity StreetFairConcreteNone Adverse
X 4/2/200855063C0261C
No adverseconditions.
11.5DetachedBungalowExisting60
Stone/ABrk/Steel/AAsphalt/FYes/FDbl H/Csmnt/AAlum/A
No
YesNonePartialNoneDryAverageNone
7280
Open/JoistUnfinishedConcreteNo
UnkUnkUnkUnk
R.Val
7281 1 1 1 1 2 1,508
2 598
7 3 2 2,106
Vinyl/Cpt/PDW/Panel/Tile/F-PWood/AVinyl/PPanel/FWood/A
GFA
Nat GasAvgCAX
Avg
00000
0
2
2
2The electricity is turned off of the subject property, therefore, mechanicals were not tested.
Items are standard for the period.The subject
property was maintained in poor condition. It appears as though at one time the roof caused water damage which resulted in mold growingon every wall of the addition and caused some ceiling damage as well. The appraiser recommends a mold specialist and a homeinspector/contractor determine livability and required abatement procedures prior to occupancy.
The subject property appears to have an extensive amount of black mold growing on the walls of the780sf addition to the rear of the first level. Depending on the type it can be hazardous to human health.
Simmons R.E. Appraisal Svs.
Form UA2 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
11-004781903 Losey Blvd S La Crosse WI 54601TANNER ADDITION LOT 1 BLOCK 1 & VAC W 8FT ALLEN ST ADJ ON E IN DOC 1343349La Crosse
17-50128-10 2010 1,957.94 74.60N/A La Crosse County
City of La Crosse 29100 0011.01NA N/A N/ALa Crosse County 400 4th St North, Room 1370, La Crosse, WI 54601-3200Emily Diefenbaugh 6579 Manna Ave, Cashton, WI 54619
70,000110,000
90,000
5070
60
25
1Other 74
Subject property is located in the City of La Crosse. Subject is southeast of the downtown (proper)area and is located on one of the main st running N-S through the city. Property bounded by Travis St (N), Barlow St (S), Allen St (E).
Subject site is located within a short walk to most major conveniences; i.e., schools, shopping and religious affiliations, parks and recreation.Transportation out of the immediate area is unrestricted over good roadways with interstate access approx 15 minutes away. Homesimmediately surrounding the subject are similar in age and lot size but style and condition vary.
Market conditions are constantly changing. The county has a low unemployment rate (6%) in comparison to the state of Wisconsin (7.3%).Employment in the area is relatively stable within the area.
.148 Ac6,447 SF
G1/Residential
NaturalMacadam
None
Level.148 AcRectangleAdequateCity StreetFairConcreteNone Adverse
X 4/2/200855063C0261C
No adverseconditions.
11.5DetachedBungalowExisting60
Stone/ABrk/Steel/AAsphalt/FYes/FDbl H/Csmnt/AAlum/A
No
YesNonePartialNoneDryAverageNone
7280
Open/JoistUnfinishedConcreteNo
UnkUnkUnkUnk
R.Val
7281 1 1 1 1 2 1,508
2 598
7 3 2 2,106
Vinyl/Cpt/PDW/Panel/Tile/F-PWood/AVinyl/PPanel/FWood/A
GFA
Nat GasAvgCAX
Avg
00000
0
2
2
2The electricity is turned off of the subject property, therefore, mechanicals were not tested.
Items are standard for the period.The subject
property was maintained in poor condition. It appears as though at one time the roof caused water damage which resulted in mold growingon every wall of the addition and caused some ceiling damage as well. The appraiser recommends a mold specialist and a homeinspector/contractor determine livability and required abatement procedures prior to occupancy.
The subject property appears to have an extensive amount of black mold growing on the walls of the780sf addition to the rear of the first level. Depending on the type it can be hazardous to human health.
Simmons R.E. Appraisal Svs.
Property Description File No.UNIFORM RESIDENTIAL APPRAISAL REPORTSU
BJEC
T
Property AddressLegal DescriptionAssessor's Parcel No.BorrowerProperty rights appraisedNeighborhood or Project NameSale Price $Lender/ClientAppraiserLocationBuilt upGrowth rateProperty valuesDemand/supplyMarketing time
City State Zip CodeCounty
Tax Year R.E. Taxes $ Special Assessments $Current Owner Occupant: Owner Tenant Vacant
Fee Simple Leasehold Project Type PUD Condominium (HUD/VA only) HOA $ /Mo.Map Reference Census Tract
Date of Sale Description and $ amount of loan charges/concessions to be paid by sellerAddressAddress
NEIG
HBOR
HOOD
Predominantoccupancy
Single family housing Present land use % Land use change
Note: Race and the racial composition of the neighborhood are not appraisal factors.
Predominant
UrbanOver 75%RapidIncreasingShortageUnder 3 mos.
Suburban25-75%StableStableIn balance3-6 mos.
RuralUnder 25%SlowDecliningOver supplyOver 6 mos.
OwnerTenantVacant (0-5%)Vac.(over 5%)
PRICE AGE$(000) (yrs)
LowHigh
One family2-4 familyMulti-familyCommercial
Not likelyIn process
Likely
To:
Neighborhood boundaries and characteristics:
Factors that affect the marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.):
Market conditions in the subject neighborhood (including support for the above conclusions related to the trend of property values, demand/supply, and marketing time-- such as data on competitive properties for sale in the neighborhood, description of the prevalence of sales and financing concessions, etc.):
PUD
Project Information for PUDs (If applicable) - - Is the developer/builder in control of the Home Owners' Association (HOA)? Yes NoApproximate total number of units in the subject project Approximate total number of units for sale in the subject projectDescribe common elements and recreational facilities:
SITE
DimensionsSite areaSpecific zoning classification and descriptionZoning complianceHighest & best use as improved:
Corner Lot Yes No
Legal Legal nonconforming (Grandfathered use) Illegal No zoningPresent use Other use (explain)
Utilities Off-site ImprovementsElectricityGasWaterSanitary sewerStorm sewer
Public Other Type Public PrivateStreetCurb/gutterSidewalkStreet lightsAlley
TopographySizeShapeDrainageViewLandscapingDriveway SurfaceApparent easementsFEMA Special Flood Hazard AreaFEMA ZoneFEMA Map No.
Map DateYes No
Comments (apparent adverse easements, encroachments, special assessments, slide areas, illegal or legal nonconforming zoning use, etc.):
DESC
RIPT
ION
OF IM
PROV
EMEN
TS
GENERAL DESCRIPTION
No. of UnitsNo. of StoriesType (Det./Att.)Design (Style)Existing/ProposedAge (Yrs.)Effective Age (Yrs.)
EXTERIOR DESCRIPTION
FoundationExterior WallsRoof SurfaceGutters & Dwnspts.Window TypeStorm/ScreensManufactured House
FOUNDATION
SlabCrawl SpaceBasementSump PumpDampnessSettlementInfestation
BASEMENT
Area Sq. Ft.% FinishedCeilingWallsFloorOutside Entry
INSULATION
RoofCeilingWallsFloorNoneUnknown
ROOMS
BasementLevel 1Level 2
Finished area above grade contains: Rooms; Bedroom(s); Bath(s); Square Feet of Gross Living Area
Foyer Living Dining Kitchen Den Family Rm. Rec. Rm. Bedrooms # Baths Laundry Other Area Sq. Ft.
INTERIOR Materials/ConditionFloorsWallsTrim/FinishBath FloorBath WainscotDoors
HEATING
TypeFuelConditionCOOLING
CentralOtherCondition
KITCHEN EQUIP.
RefrigeratorRange/OvenDisposalDishwasherFan/HoodMicrowaveWasher/Dryer
ATTIC
NoneStairsDrop StairScuttleFloorHeatedFinished
AMENITIES
Fireplace(s) #PatioDeckPorchFencePool
CAR STORAGE:
NoneGarage
AttachedDetachedBuilt-In
CarportDriveway
# of cars
COM
MEN
TS
Additional features (special energy efficient items, etc.):
Condition of the improvements, depreciation (physical, functional, and external), repairs needed, quality of construction, remodeling/additions, etc.:
Adverse environmental conditions (such as, but not limited to, hazardous wastes, toxic substances, etc.) present in the improvements, on the site, or in theimmediate vicinity of the subject property.:
Freddie Mac Form 70 6/93 Fannie Mae Form 1004 6/93PAGE 1 OF 2
Page #3Main File No. 11-00478
Valuation Section File No.UNIFORM RESIDENTIAL APPRAISAL REPORTCO
ST A
PPRO
ACH
ESTIMATED SITE VALUEESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS:Dwelling
Garage/CarportTotal Estimated Cost NewLessDepreciationDepreciated Value of Improvements"As-is" Value of Site ImprovementsINDICATED VALUE BY COST APPROACH
Sq. Ft.Sq. Ft.
Sq. Ft.
@@
@
$$
$
Physical Functional External
=====
$
$
=
====
$
$$$$
Comments on Cost Approach (such as, source of cost estimate, site value,square foot calculation and for HUD, VA and FmHA, the estimated remainingeconomic life of the property):
SALE
S CO
MPA
RISO
N AN
ALYS
IS
/ / / /
ITEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3
ITEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3
DESCRIPTION DESCRIPTION +( )$ Adjust.– DESCRIPTION +( )$ Adjust.– DESCRIPTION +( )$ Adjust.–
Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths
Sq. Ft. Sq. Ft. Sq. Ft. Sq. Ft.
+ – + – + –
$$ $
$
$
$
$$
$
$
$$
$
$
$$$
AddressProximity to SubjectSales PricePrice/Gross Living AreaData and/orVerification SourceVALUE ADJUSTMENTS
Sales or FinancingConcessionsDate of Sale/TimeLocationLeasehold/Fee SimpleSiteViewDesign and AppealQuality of ConstructionAgeConditionAbove GradeRoom CountGross Living AreaBasement & FinishedRooms Below GradeFunctional UtilityHeating/CoolingEnergy Efficient ItemsGarage/CarportPorch, Patio, Deck,Fireplace(s), etc.Fence, Pool, etc.
Net Adj. (total)Adjusted Sales Priceof ComparableComments on Sales Comparison (including the subject property's compatibility to the neighborhood, etc.):
Date, Price and DataSource, for prior saleswithin year of appraisalAnalysis of any current agreement of sale, option, or listing of subject property and analysis of any prior sales of subject and comparables within one year of the date of appraisal:
INDICATED VALUE BY SALES COMPARISON APPROACHINDICATED VALUE BY INCOME APPROACH (if Applicable) Estimated Market Rent /Mo. x Gross Rent Multiplier =
RECO
NCIL
IATI
ON
This appraisal is made "as is" subject to the repairs, alterations, inspections or conditions listed below subject to completion per plans & specifications.Conditions of Appraisal:
Final Reconciliation:
The purpose of this appraisal is to estimate the market value of the real property that is the subject of this report, based on the above conditions and the certification, contingentand limiting conditions, and market value definition that are stated in the attached Freddie Mac Form 439/FNMA form 1004B (Revised ).
SignatureNameDate Report SignedState Certification # StateOr State License # State
SignatureNameDate Report SignedState Certification # StateOr State License # State
Inspect PropertyDid Did Not
I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF(WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE $APPRAISER: SUPERVISORY APPRAISER (ONLY IF REQUIRED):
Freddie Mac Form 70 6/93 Fannie Mae Form 1004 6-93PAGE 2 OF 2Form UA2 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
2,106728
11-00478
See additional comments
1903 Losey Blvd SLa Crosse, WI 54601
NA
UrbanFee Simple.148 AcCity StreetBungalowAverage60Poor
7 3 22,106
728NoneAverageGFA/CAStandard2None
12/29/2010Records10/12/2011
2903 31st St SLa Crosse, WI 546010.94 miles SE
52,50041.97
MLS File #1184178County Records
FHANone Reported3/11UrbanFee Simple.193 Ac 0City Street 0Split Level 0Average 040 0Poor 0
5 3 2 01,251 11,115
Full -0%Fin -1,000Included Above 0Average 0GFA/CA 0Standard 01Carport +3,000None 0
13,115
65,615
7/13/2010 $63,200 FrclsrRecords10/12/2011
2335 Prospect StLa Crosse, WI 546034 miles N
41,50021.93
MLS File #1176067County Records
ConventionalNone Reported5/11UrbanFee Simple.128 Ac 0City Street 0Traditional 0Average 0~110 0Average-Fair -5,000
7 4 11,892 +2,782
Full -0%Fin -1,000None 0Average 0GFA/CA 0Standard 02 0None 0
-3,218
38,282
8/2/2010 $105,000 Sheriff'sRecords10/12/2011
1024 Saint Paul StLa Crosse, WI 546033 miles NW
33,00017.05
MLS File #1171361County Records
OtherNone Reported1/11UrbanFee Simple.172 Ac 0City Street 0Colonial 0Average 0~91 0Average-Fair -5,000
9 4 2 -1,0001,936 +2,210
Full - 0% Fin -1,000None 0Average 0GFA +1,000Standard 02 0None 0
-3,790
29,210
8/18/2010 $91,523Records10/12/2011
Please see extended comments in the attachedaddendum.
County records have been checked and the subject and all comps have transferred in the year preceding the above identified transaction. Inevery case the transaction was due to foreclosure/sheriff sales
45,000N/A N/A
The appraiser assumed that there was no underlying structural damage to the addition. The value is based on abatementand not demolition. If anything is contrary to this the appraiser should be notified to adjust the value accordingly.
The appraiser deems all three comparables reliable for determining a value for the subject. They are all in similar condition,size and location. The appraiser considered all three approaches to value but concluded that the Sales Comparison Approach was the mostreliable at this time. The value is based upon the mean of all three adjusted values.
N/A10/04/2011
45,000
Emily DiefenbaughOctober 12, 2011
1779-004 WI
Form UA2 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
2,106728
11-00478
See additional comments
1903 Losey Blvd SLa Crosse, WI 54601
NA
UrbanFee Simple.148 AcCity StreetBungalowAverage60Poor
7 3 22,106
728NoneAverageGFA/CAStandard2None
12/29/2010Records10/12/2011
2903 31st St SLa Crosse, WI 546010.94 miles SE
52,50041.97
MLS File #1184178County Records
FHANone Reported3/11UrbanFee Simple.193 Ac 0City Street 0Split Level 0Average 040 0Poor 0
5 3 2 01,251 11,115
Full -0%Fin -1,000Included Above 0Average 0GFA/CA 0Standard 01Carport +3,000None 0
13,115
65,615
7/13/2010 $63,200 FrclsrRecords10/12/2011
2335 Prospect StLa Crosse, WI 546034 miles N
41,50021.93
MLS File #1176067County Records
ConventionalNone Reported5/11UrbanFee Simple.128 Ac 0City Street 0Traditional 0Average 0~110 0Average-Fair -5,000
7 4 11,892 +2,782
Full -0%Fin -1,000None 0Average 0GFA/CA 0Standard 02 0None 0
-3,218
38,282
8/2/2010 $105,000 Sheriff'sRecords10/12/2011
1024 Saint Paul StLa Crosse, WI 546033 miles NW
33,00017.05
MLS File #1171361County Records
OtherNone Reported1/11UrbanFee Simple.172 Ac 0City Street 0Colonial 0Average 0~91 0Average-Fair -5,000
9 4 2 -1,0001,936 +2,210
Full - 0% Fin -1,000None 0Average 0GFA +1,000Standard 02 0None 0
-3,790
29,210
8/18/2010 $91,523Records10/12/2011
Please see extended comments in the attachedaddendum.
County records have been checked and the subject and all comps have transferred in the year preceding the above identified transaction. Inevery case the transaction was due to foreclosure/sheriff sales
45,000N/A N/A
The appraiser assumed that there was no underlying structural damage to the addition. The value is based on abatementand not demolition. If anything is contrary to this the appraiser should be notified to adjust the value accordingly.
The appraiser deems all three comparables reliable for determining a value for the subject. They are all in similar condition,size and location. The appraiser considered all three approaches to value but concluded that the Sales Comparison Approach was the mostreliable at this time. The value is based upon the mean of all three adjusted values.
N/A10/04/2011
45,000
Emily DiefenbaughOctober 12, 2011
1779-004 WI
Valuation Section File No.UNIFORM RESIDENTIAL APPRAISAL REPORTCO
ST A
PPRO
ACH
ESTIMATED SITE VALUEESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS:Dwelling
Garage/CarportTotal Estimated Cost NewLessDepreciationDepreciated Value of Improvements"As-is" Value of Site ImprovementsINDICATED VALUE BY COST APPROACH
Sq. Ft.Sq. Ft.
Sq. Ft.
@@
@
$$
$
Physical Functional External
=====
$
$
=
====
$
$$$$
Comments on Cost Approach (such as, source of cost estimate, site value,square foot calculation and for HUD, VA and FmHA, the estimated remainingeconomic life of the property):
SALE
S CO
MPA
RISO
N AN
ALYS
IS
/ / / /
ITEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3
ITEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3
DESCRIPTION DESCRIPTION +( )$ Adjust.– DESCRIPTION +( )$ Adjust.– DESCRIPTION +( )$ Adjust.–
Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths
Sq. Ft. Sq. Ft. Sq. Ft. Sq. Ft.
+ – + – + –
$$ $
$
$
$
$$
$
$
$$
$
$
$$$
AddressProximity to SubjectSales PricePrice/Gross Living AreaData and/orVerification SourceVALUE ADJUSTMENTS
Sales or FinancingConcessionsDate of Sale/TimeLocationLeasehold/Fee SimpleSiteViewDesign and AppealQuality of ConstructionAgeConditionAbove GradeRoom CountGross Living AreaBasement & FinishedRooms Below GradeFunctional UtilityHeating/CoolingEnergy Efficient ItemsGarage/CarportPorch, Patio, Deck,Fireplace(s), etc.Fence, Pool, etc.
Net Adj. (total)Adjusted Sales Priceof ComparableComments on Sales Comparison (including the subject property's compatibility to the neighborhood, etc.):
Date, Price and DataSource, for prior saleswithin year of appraisalAnalysis of any current agreement of sale, option, or listing of subject property and analysis of any prior sales of subject and comparables within one year of the date of appraisal:
INDICATED VALUE BY SALES COMPARISON APPROACHINDICATED VALUE BY INCOME APPROACH (if Applicable) Estimated Market Rent /Mo. x Gross Rent Multiplier =
RECO
NCIL
IATI
ON
This appraisal is made "as is" subject to the repairs, alterations, inspections or conditions listed below subject to completion per plans & specifications.Conditions of Appraisal:
Final Reconciliation:
The purpose of this appraisal is to estimate the market value of the real property that is the subject of this report, based on the above conditions and the certification, contingentand limiting conditions, and market value definition that are stated in the attached Freddie Mac Form 439/FNMA form 1004B (Revised ).
SignatureNameDate Report SignedState Certification # StateOr State License # State
SignatureNameDate Report SignedState Certification # StateOr State License # State
Inspect PropertyDid Did Not
I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF(WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE $APPRAISER: SUPERVISORY APPRAISER (ONLY IF REQUIRED):
Freddie Mac Form 70 6/93 Fannie Mae Form 1004 6-93PAGE 2 OF 2
Page #4Main File No. 11-00478
Property AddressCity County State Zip Code
File No.
SignatureName
State Certification # StateOr State License # State
Date Signed
SignatureName
State Certification # StateOr State License # State
Date Signed
Supplemental Addendum 11-00478La Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Emily Diefenbaugh
1779-004 WI
October 12, 2011
Form TADD2 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Client
Lender
Page #5Main File No. 11-00478
SALES COMPARISON APPROACH
General Comments on this Appraisers Approach to Sales Comparison:The reader will notice notations may refer to "MLS Files, Appraiser or Broker Records," or any combination thereof. MLSmeans the greater La Crosse Multiple Listing System (MLS) covering more than five local counties. West-Central MLS is alsoconsulted when necessary as they cover eastern Monroe County to include Milwaukee, Madison and beyond. Appraiserrecords are in-house files this office has had contact with or has previously appraised the property. All sources are verified withCounty or City records. Please also understand that adjusted values are not meant to be "actual" construction, remodel orrefurbish costs. "Proximity" means distance from subject and when necessary the appraiser will point out the reason fordistances if they are beyond a normal range.
Site adjustments were made at a $1000/acre which was also the threshold requirement for an adjustment. Building adjustmentswere made at $13.00 per square foot based on age, depreciation and physical condition of the property. If adjustment is madefor square footage it will be unlikely that another adjustment will be made for room count, unless one adjustment is a positiveand the other is a negative. This would amount to adjusting to the same space twice which is not an acceptable appraisalpractice. In situations where both the Room Count and GLA are +/- the GLA adjustment is made for the combination of the twocategories.
Subject property has been maintained in poor condition with obvious signs of deferred maintenance and potentially hazardousconditions. The appraiser noted the item of extreme concern being the visible mold, which quite possibly is black mold, in therear room addition and potentially other areas of the structure. It is possible that this issue may be purely a superficialcondition, however, the appraiser feels a mold specialist as well as a home inspector or contractor should be employed in orderto reliably determine livability conditions, extent of the damage and cost to cure.
Due to the low price point of the comparables reasonable adjustments have propelled Comp #1 over the net and grosspercentage threshold and Comp #3 over the net percentage. Additionally, due to the lack of more similar comparables theappraiser had to make slightly larger adjustments than normal in order to adequately compare and determine a reliable valuefor the subject. The appraiser feels the comparables are still viable in determining a value for the subject.
The appraiser assumed that there was no underlying structural damage to the addition. The value is based on abatement andnot demolition. If anything is contrary to this the appraiser should be notified to adjust the value accordingly.
The appraiser deems all three comparables reliable for determining a value for the subject. They are the most similarcomparables available (i.e. condition, size and location). The appraiser considered all three approaches to value but concludedthat the Sales Comparison Approach was the most reliable at this time. The value is based upon the mean of all three adjustedvalues.
Comparable Property Explanations:Comp #1 - Three adjustments were made to this comparable. The first was a positive adjustment to the GLA category. Thesecond adjustment was a negative to the Basement & Finished category. The final adjustment was a positive in theGarage/Carport category.
Comp #2 - Three adjustments were made to this comparable. The first was a negative adjustment to the Condition category.The second adjustment was a positive to the GLA category. The final was a negative to the Basement & Finished category.
Comp #3 - Five adjustments were made to this comparable. The first was a negative adjustment to the Condition category.The second adjustment was a negative to the Room Count category. The third final was a positive adjustment to the GLAcategory. The fourth was a negative adjustment to the Basement & Finished category. The final adjustment was positive in theHeating/Cooling category.
Additional Comments:
Unless otherwise noted, the appraiser assumes various elements that constitute the subject are fundamentally andmechanically sound and in working order. Statements regarding condition, particularly those regarding heating and coolingsystems are based on superficial observation and are not to be confused with a home inspection or a certification ofacceptability. The appraiser is not a home inspector and the appraisal report cannot substitute for a home inspection report.The appraisal report should not be relied upon to disclose the condition of the property or presence/absence of any defects.The client is invited and encouraged to address any area of concern. IF negative conditions are discovered the appraisershould be notified, as the estimate of value will require analysis and possible modification.
In accordance with Federal law, a copy of this report will be maintained at the appraisal officer for 5 years from the date ofinspection. If there is a court action involving this report the appraisal will be kept for 2 additional years from the date of judicialdisposition.
COST APPROACH
General Comments on this Appraisers Cost Approach:
The appraiser has opted not to include the Cost Approach for this report. This approach to value is only relevant when aproperty is new, newer or has received extensive remodeling and updates which significantly increase the estimated remainingeconomic life. Therefore, since the subject property has not received significant updates including this approach to value wouldnot be relevant for determining a value.
USPAP COMPLIANCE ADDENDUM File No.:Borrower Order #Property AddressCity County State Zip CodeLender/Client Client Reference #
Only those items checked X apply to this report.
PURPOSE, FUNCTION AND INTENDED USE OF THE APPRAISAL
The purpose of the appraisal is to provide an opinion of market value of the subject property as defined in this report, on behalf of the appraisalcompany facilitating the assignment for the referenced client as the intended user of the report. The only function of the appraisal is to assist theclient mentioned in this report in evaluating the subject property for lending purposes. The use of this appraisal by anyone other than the statedintended user, or for any other use than the stated intended use, is prohibited.
The purpose of the appraisal is to provide an opinion of market value of the subject property as defined in this report, on behalf of the appraisalcompany facilitating the assignment for the referenced client as the intended user of the report. The only function of the appraisal is to assist theclient mentioned in this report in evaluating the subject property for Real Estate Owned (REO) purposes. The use of this appraisal by anyoneother than the stated intended user, or for any other use than the stated intended use, is prohibited.
The purpose of the appraisal is to , on behalf of the appraisal company facilitating the assignment forthe referenced client as the intended user of this report. The only function of the appraisal is to assist the client mentioned in this report inevaluating the subject property for . The use of this appraisal by anyone other than the stated intendeduser, or for any other use than the stated intended use is prohibited.
TYPE OF APPRAISAL AND APPRAISAL REPORT
This is a Appraisal written in a Report format and the USPAP Departure Rule has not been invoked.This is a Limited Appraisal written in a Report format and the USPAP Departure Rule has been invoked as disclosed inthe body or addenda of the report. The client has agreed that a Limited Appraisal is sufficient for its purposes.
SCOPE (EXTENT) OF REPORT
the appraisal is based on the information gathered by the appraiser from public records, other identified sources, inspection of the subjectproperty and neighborhood, and selection of comparable sales, listings, and/or rentals within the subject market area. The original source of thecomparables is shown in the Data Source section of the market grid along with the source of confirmation, if available. The original source ispresented first. The sources and data are considered reliable. When conflicting information was provided, the source deemed most reliable hasbeen used. Data believed to be unreliable was not included in the report nor used as a basis for the value conclusion. The extent of analysisapplied to this assignment may be further imparted within the report, the Appraiser's Certification below and/or any other Statement of LimitingConditions and Appraiser's Certification such as may be utilized within the Freddie Mac form 439 or Fannie Mae form 1004b (dated 6/93), whenapplicable.
MARKETING TIME AND EXPOSURE TIME FOR THE SUBJECT PROPERTY
A reasonable marketing time for the subject property is day(s) utilizing market conditions pertinent to the appraisal assignmentA reasonable exposure time for the subject property is day(s) utilizing market conditions pertinent to the appraisal assignment
APPRAISER'S CERTIFICATION
I certify that, to the best of my knowledge and belief:
- The statements of fact contained in this report are true and correct.- The report analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal,
impartial, and unbiased professional analyses, opinions, and conclusions.- I have no present or prospective interest in the property that is the subject of this report, and nor personal interest with respect to the parties
involved, unless otherwise stated within the report.- I have no bias with respect to the property that is the subject of this report or to 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 of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequentevent 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 ofProfessional Appraisal Practice.
- I have or have not made a personal inspection of the property that is the subject of this report. (If more than one person signs this report,this certification must clearly specify which individuals did and which individuals did not make a personal inspection of the appraisal property.)
- No one provided significant professional assistance to the person signing this report. (If there are exceptions, the name of each individualproviding significant professional assistance must be stated.)
NOTE: In the case of any conflict with a client provided certification (i.e., Fannie Mae or Freddie Mac), this revised certification shall takeprecedence
APPRAISER'S AND SUPERVISORY APPRAISER'S SIGNATURE
APPRAISER
Signature:
Name:
Date of Report (Inspection):
State License/Certification #:
State of License/Certification:
Expiration Date of License/Certification:
SUPERVISORY-APPRAISER (only if required)
Signature:
Name:
Date of Report (Inspection):
State License/Certification #:
State of License/Certification:
Expiration Date of License/Certification:
Did inspect subject propertyInterior & ExteriorExterior only
Inspected ComparablesInterior & ExteriorExterior only
USPAP Compliance Addendum - 4/99
11-00478N/A 10-00159
1903 Losey Blvd SLa Crosse La Crosse WI 54601
La Crosse County
Complete Summary
90-180
Emily Diefenbaugh10/04/2011
1836-009WI
12/14/2011
Form FAUCA — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODESimmons R.E. Appraisal Svs.
11-00478N/A 10-00159
1903 Losey Blvd SLa Crosse La Crosse WI 54601
La Crosse County
Complete Summary
90-180
Emily Diefenbaugh10/04/2011
1836-009WI
12/14/2011
Form FAUCA — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODESimmons R.E. Appraisal Svs.
USPAP COMPLIANCE ADDENDUM File No.:Borrower Order #Property AddressCity County State Zip CodeLender/Client Client Reference #
Only those items checked X apply to this report.
PURPOSE, FUNCTION AND INTENDED USE OF THE APPRAISAL
The purpose of the appraisal is to provide an opinion of market value of the subject property as defined in this report, on behalf of the appraisalcompany facilitating the assignment for the referenced client as the intended user of the report. The only function of the appraisal is to assist theclient mentioned in this report in evaluating the subject property for lending purposes. The use of this appraisal by anyone other than the statedintended user, or for any other use than the stated intended use, is prohibited.
The purpose of the appraisal is to provide an opinion of market value of the subject property as defined in this report, on behalf of the appraisalcompany facilitating the assignment for the referenced client as the intended user of the report. The only function of the appraisal is to assist theclient mentioned in this report in evaluating the subject property for Real Estate Owned (REO) purposes. The use of this appraisal by anyoneother than the stated intended user, or for any other use than the stated intended use, is prohibited.
The purpose of the appraisal is to , on behalf of the appraisal company facilitating the assignment forthe referenced client as the intended user of this report. The only function of the appraisal is to assist the client mentioned in this report inevaluating the subject property for . The use of this appraisal by anyone other than the stated intendeduser, or for any other use than the stated intended use is prohibited.
TYPE OF APPRAISAL AND APPRAISAL REPORT
This is a Appraisal written in a Report format and the USPAP Departure Rule has not been invoked.This is a Limited Appraisal written in a Report format and the USPAP Departure Rule has been invoked as disclosed inthe body or addenda of the report. The client has agreed that a Limited Appraisal is sufficient for its purposes.
SCOPE (EXTENT) OF REPORT
the appraisal is based on the information gathered by the appraiser from public records, other identified sources, inspection of the subjectproperty and neighborhood, and selection of comparable sales, listings, and/or rentals within the subject market area. The original source of thecomparables is shown in the Data Source section of the market grid along with the source of confirmation, if available. The original source ispresented first. The sources and data are considered reliable. When conflicting information was provided, the source deemed most reliable hasbeen used. Data believed to be unreliable was not included in the report nor used as a basis for the value conclusion. The extent of analysisapplied to this assignment may be further imparted within the report, the Appraiser's Certification below and/or any other Statement of LimitingConditions and Appraiser's Certification such as may be utilized within the Freddie Mac form 439 or Fannie Mae form 1004b (dated 6/93), whenapplicable.
MARKETING TIME AND EXPOSURE TIME FOR THE SUBJECT PROPERTY
A reasonable marketing time for the subject property is day(s) utilizing market conditions pertinent to the appraisal assignmentA reasonable exposure time for the subject property is day(s) utilizing market conditions pertinent to the appraisal assignment
APPRAISER'S CERTIFICATION
I certify that, to the best of my knowledge and belief:
- The statements of fact contained in this report are true and correct.- The report analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal,
impartial, and unbiased professional analyses, opinions, and conclusions.- I have no present or prospective interest in the property that is the subject of this report, and nor personal interest with respect to the parties
involved, unless otherwise stated within the report.- I have no bias with respect to the property that is the subject of this report or to 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 of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequentevent 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 ofProfessional Appraisal Practice.
- I have or have not made a personal inspection of the property that is the subject of this report. (If more than one person signs this report,this certification must clearly specify which individuals did and which individuals did not make a personal inspection of the appraisal property.)
- No one provided significant professional assistance to the person signing this report. (If there are exceptions, the name of each individualproviding significant professional assistance must be stated.)
NOTE: In the case of any conflict with a client provided certification (i.e., Fannie Mae or Freddie Mac), this revised certification shall takeprecedence
APPRAISER'S AND SUPERVISORY APPRAISER'S SIGNATURE
APPRAISER
Signature:
Name:
Date of Report (Inspection):
State License/Certification #:
State of License/Certification:
Expiration Date of License/Certification:
SUPERVISORY-APPRAISER (only if required)
Signature:
Name:
Date of Report (Inspection):
State License/Certification #:
State of License/Certification:
Expiration Date of License/Certification:
Did inspect subject propertyInterior & ExteriorExterior only
Inspected ComparablesInterior & ExteriorExterior only
USPAP Compliance Addendum - 4/99
Page #6Main File No. 11-00478
MULTI-PURPOSE SUPPLEMENTAL ADDENDUMFOR FEDERALLY RELATED TRANSACTIONS
Property AddressCity County State Zip Code
This Multi-Purpose Supplemental Addendum for Federally Related Transactions was designed to provide the appraiser with a convenient way to comply with the currentappraisal standards and requirements of the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of Currency (OCC), The Office of ThriftSupervision (OTS), the Resolution Trust Corporation (RTC), and the Federal Reserve.
This Multi-Purpose Supplemental Addendum is for use with any appraisal. Only thosestatements which have been checked by the appraiser apply to the property being appraised.
PURPOSE & FUNCTION OF APPRAISAL
The purpose of the appraisal is to estimate the market value of the subject property as defined herein. The function of the appraisal is to assist the above-namedLender in evaluating the subject property for lending purposes. This is a federally related transaction.
EXTENT OF APPRAISAL PROCESS
The appraisal is based on the information gathered by the appraiser from public records, other identified sources, inspection of the subject property andneighborhood, and selection of comparable sales within the subject market area. The original source of the comparables is shown in the Data Source sectionof the market grid along with the source of confirmation, if available. The original source is presented first. The sources and data are considered reliable.
When conflicting information was provided, the source deemed most reliable has been used. Data believed to be unreliable was not included in the report norused as a basis for the value conclusion.
The Reproduction Cost is based onsupplemented by the appraiser's knowledge of the local market.
Physical depreciation is based on the estimated effective age of the subject property. Functional and/or external depreciation, if present, is specifically
addressed in the appraisal report or other addenda. In estimating the site value, the appraiser has relied on personal knowledge of the local market. Thisknowledge is based on prior and/or current analysis of site sales and/or abstraction of site values from sales of improved properties.
The subject property is located in an area of primarily owner-occupied single family residences and the Income Approach is not considered to be meaningful.
For this reason, the Income Approach was not used.
The Estimated Market Rent and Gross Rent Multiplier utilized in the Income Approach are based on the appraiser's knowledge of the subject market area.
The rental knowledge is based on prior and/or current rental rate surveys of residential properties. The Gross Rent Multiplier is based on prior and/or currentanalysis of prices and market rates for residential properties.
For income producing properties, actual rents, vacancies and expenses have been reported and analyzed. They have been used to project future rents,
vacancies and expenses.
SUBJECT PROPERTY OFFERING INFORMATION
According to the subject property:has not been offered for sale in the past: 30 days 1 year 3 years.
is currently offered for sale for $ .was offered for sale within the past: 30 days 1 year 3 years for $ .
Offering information was considered in the final reconciliation of value.Offering information was not considered in the final reconciliation of value.
Offering information was not available. The reasons for unavailability and the steps taken by the appraiser are explained later in this addendum.
SALES HISTORY OF SUBJECT PROPERTY
According to the subject property:
Has not transferred in the past twelve months.Has transferred in the past twelve months.
in the past thirty-six months.in the past thirty-six months.
in the past 5 years.in the past 5 years.
All prior sales which have occurred in the past are listed below and reconciled to the appraised value, either in the body of the report or in the addenda.Date Sales Price Document # Seller Buyer
FEMA FLOOD HAZARD DATA
Subject property is not located in a FEMA Special Flood Hazard Area.
Subject property is located in a FEMA Special Flood Hazard Area.
The community does not participate in the National Flood Insurance Program.The community does participate in the National Flood Insurance Program.It is covered by a regular program.
It is covered by an emergency program.
Zone FEMA Map/Panel # Map Date Name of Community
Page 1 of 2
Form MPA3 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Simmons R.E. Appraisal Svs.
La Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Owner/County Records
County Records
year
12/29/2010 1566508 La Crosse County
X 55063C0261C 4/2/2008 City of La Crosse
Client
Lender
Form MPA3 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Simmons R.E. Appraisal Svs.
La Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Owner/County Records
County Records
year
12/29/2010 1566508 La Crosse County
X 55063C0261C 4/2/2008 City of La Crosse
Client
Lender
MULTI-PURPOSE SUPPLEMENTAL ADDENDUMFOR FEDERALLY RELATED TRANSACTIONS
Property AddressCity County State Zip Code
This Multi-Purpose Supplemental Addendum for Federally Related Transactions was designed to provide the appraiser with a convenient way to comply with the currentappraisal standards and requirements of the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of Currency (OCC), The Office of ThriftSupervision (OTS), the Resolution Trust Corporation (RTC), and the Federal Reserve.
This Multi-Purpose Supplemental Addendum is for use with any appraisal. Only thosestatements which have been checked by the appraiser apply to the property being appraised.
PURPOSE & FUNCTION OF APPRAISAL
The purpose of the appraisal is to estimate the market value of the subject property as defined herein. The function of the appraisal is to assist the above-namedLender in evaluating the subject property for lending purposes. This is a federally related transaction.
EXTENT OF APPRAISAL PROCESS
The appraisal is based on the information gathered by the appraiser from public records, other identified sources, inspection of the subject property andneighborhood, and selection of comparable sales within the subject market area. The original source of the comparables is shown in the Data Source sectionof the market grid along with the source of confirmation, if available. The original source is presented first. The sources and data are considered reliable.
When conflicting information was provided, the source deemed most reliable has been used. Data believed to be unreliable was not included in the report norused as a basis for the value conclusion.
The Reproduction Cost is based onsupplemented by the appraiser's knowledge of the local market.
Physical depreciation is based on the estimated effective age of the subject property. Functional and/or external depreciation, if present, is specifically
addressed in the appraisal report or other addenda. In estimating the site value, the appraiser has relied on personal knowledge of the local market. Thisknowledge is based on prior and/or current analysis of site sales and/or abstraction of site values from sales of improved properties.
The subject property is located in an area of primarily owner-occupied single family residences and the Income Approach is not considered to be meaningful.
For this reason, the Income Approach was not used.
The Estimated Market Rent and Gross Rent Multiplier utilized in the Income Approach are based on the appraiser's knowledge of the subject market area.
The rental knowledge is based on prior and/or current rental rate surveys of residential properties. The Gross Rent Multiplier is based on prior and/or currentanalysis of prices and market rates for residential properties.
For income producing properties, actual rents, vacancies and expenses have been reported and analyzed. They have been used to project future rents,
vacancies and expenses.
SUBJECT PROPERTY OFFERING INFORMATION
According to the subject property:has not been offered for sale in the past: 30 days 1 year 3 years.
is currently offered for sale for $ .was offered for sale within the past: 30 days 1 year 3 years for $ .
Offering information was considered in the final reconciliation of value.Offering information was not considered in the final reconciliation of value.
Offering information was not available. The reasons for unavailability and the steps taken by the appraiser are explained later in this addendum.
SALES HISTORY OF SUBJECT PROPERTY
According to the subject property:
Has not transferred in the past twelve months.Has transferred in the past twelve months.
in the past thirty-six months.in the past thirty-six months.
in the past 5 years.in the past 5 years.
All prior sales which have occurred in the past are listed below and reconciled to the appraised value, either in the body of the report or in the addenda.Date Sales Price Document # Seller Buyer
FEMA FLOOD HAZARD DATA
Subject property is not located in a FEMA Special Flood Hazard Area.
Subject property is located in a FEMA Special Flood Hazard Area.
The community does not participate in the National Flood Insurance Program.The community does participate in the National Flood Insurance Program.It is covered by a regular program.
It is covered by an emergency program.
Zone FEMA Map/Panel # Map Date Name of Community
Page 1 of 2
Page #7Main File No. 11-00478
CURRENT SALES CONTRACT
The subject property is currently not under contract.The contract and/or escrow instructions were not available for review. The unavailability of the contract is explained later in the addenda section.
The contract and/or escrow instructions were reviewed. The following summarizes the contract:
The contract indicated that personal property was not included in the sale.The contract indicated that personal property was included. It consisted of
Estimated contributory value is $ .Personal property was not included in the final value estimate.Personal property was included in the final value estimate.The contract indicated no financing concessions or other incentives.The contract indicated the following concessions or incentives:
.If concessions or incentives exist, the comparables were checked for similar concessions and appropriate adjustments were made, if applicable, sothat the final value conclusion is in compliance with the Market Value defined herein.
Contract Date Amendment Date Contract Price Seller
MARKET OVERVIEW Include an explanation of current market conditions and trends.
months is considered a reasonable marketing period for the subject property based on.
ADDITIONAL CERTIFICATION
The Appraiser certifies and agrees that:
(1) The analyses, opinions and conclusions were developed, and this report was prepared, in conformity with the Uniform Standards of ProfessionalAppraisal Practice ("USPAP"), except that the Departure Provision of the USPAP does not apply.
(2) Their compensation is not contingent upon the reporting of predetermined value or direction in value that favors the cause of the client, the amountof the value estimate, the attainment of a stipulated result, or the occurrence of a subsequent event.
(3) This appraisal assignment was not based on a requested minimum valuation, a specific valuation, or the approval of a loan.
ADDITIONAL (ENVIRONMENTAL) LIMITING CONDITIONS
The value estimated is based on the assumption that the property is not negatively affected by the existence of hazardous substances or detrimentalenvironmental conditions unless otherwise stated in this report. The appraiser is not an expert in the identification of hazardous substances or detrimentalenvironmental conditions. The appraiser's routine inspection of and inquiries about the subject property did not develop any information that indicatedany apparent significant hazardous substances or detrimental environmental conditions which would affect the property negatively unless otherwise statedin this report. It is possible that tests and inspections made by a qualified hazardous substance and environmental expert would reveal the existence ofhazardous substances or detrimental environmental conditions on or around the property that would negatively affect its value.
ADDITIONAL COMMENTS
APPRAISER'S SIGNATURE & LICENSE/CERTIFICATION
Appraiser's Signature Effective Date Date PreparedAppraiser's Name (print) Phone #State License Certification # Tax ID #
CO-SIGNING APPRAISER'S CERTIFICATION
The co-signing appraiser has personally inspected the subject property, both inside and out, and has made an exterior inspection of all comparable saleslisted in the report. The report was prepared by the appraiser under direct supervision of the co-signing appraiser. The co-signing appraiser acceptsresponsibility for the contents of the report including the value conclusions and the limiting conditions, and confirms that the certifications applyfully to the co-signing appraiser.The co-signing appraiser has not personally inspected the interior of the subject property and:has not inspected the exterior of the subject property and all comparable sales listed in the report.has inspected the exterior of the subject property and all comparable sales listed in the report.The report was prepared by the appraiser under direct supervision of the co-signing appraiser. The co-signing appraiser accepts responsibility for the
contents of the report, including the value conclusions and the limiting conditions, and confirms that the certifications apply fully to the co-signingappraiser with the exception of the certification regarding physical inspections. The above describes the level of inspection performed by theco-signing appraiser.The co-signing appraiser's level of inspection, involvement in the appraisal process and certification are covered elsewhere in the addenda sectionof this appraisal.
CO-SIGNING APPRAISER'S SIGNATURE & LICENSE/CERTIFICATION
Co-SigningAppraiser's Signature Effective Date Date PreparedCo-Signing Appraiser's Name (print) Phone #State License Certification # Tax ID #
Page 2 of 2
Form MPA3 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
3-6 the location of the subject property and thecurrent market trends.
The appraiser trainee (Jay Diefenbaugh) assisted the appraiser throughout the appraisal process.
10/04/2011 October 12, 2011Emily Diefenbaugh (608) 633-2990
WI 1836-009 27-1444329
Form MPA3 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
3-6 the location of the subject property and thecurrent market trends.
The appraiser trainee (Jay Diefenbaugh) assisted the appraiser throughout the appraisal process.
10/04/2011 October 12, 2011Emily Diefenbaugh (608) 633-2990
WI 1836-009 27-1444329
CURRENT SALES CONTRACT
The subject property is currently not under contract.The contract and/or escrow instructions were not available for review. The unavailability of the contract is explained later in the addenda section.
The contract and/or escrow instructions were reviewed. The following summarizes the contract:
The contract indicated that personal property was not included in the sale.The contract indicated that personal property was included. It consisted of
Estimated contributory value is $ .Personal property was not included in the final value estimate.Personal property was included in the final value estimate.The contract indicated no financing concessions or other incentives.The contract indicated the following concessions or incentives:
.If concessions or incentives exist, the comparables were checked for similar concessions and appropriate adjustments were made, if applicable, sothat the final value conclusion is in compliance with the Market Value defined herein.
Contract Date Amendment Date Contract Price Seller
MARKET OVERVIEW Include an explanation of current market conditions and trends.
months is considered a reasonable marketing period for the subject property based on.
ADDITIONAL CERTIFICATION
The Appraiser certifies and agrees that:
(1) The analyses, opinions and conclusions were developed, and this report was prepared, in conformity with the Uniform Standards of ProfessionalAppraisal Practice ("USPAP"), except that the Departure Provision of the USPAP does not apply.
(2) Their compensation is not contingent upon the reporting of predetermined value or direction in value that favors the cause of the client, the amountof the value estimate, the attainment of a stipulated result, or the occurrence of a subsequent event.
(3) This appraisal assignment was not based on a requested minimum valuation, a specific valuation, or the approval of a loan.
ADDITIONAL (ENVIRONMENTAL) LIMITING CONDITIONS
The value estimated is based on the assumption that the property is not negatively affected by the existence of hazardous substances or detrimentalenvironmental conditions unless otherwise stated in this report. The appraiser is not an expert in the identification of hazardous substances or detrimentalenvironmental conditions. The appraiser's routine inspection of and inquiries about the subject property did not develop any information that indicatedany apparent significant hazardous substances or detrimental environmental conditions which would affect the property negatively unless otherwise statedin this report. It is possible that tests and inspections made by a qualified hazardous substance and environmental expert would reveal the existence ofhazardous substances or detrimental environmental conditions on or around the property that would negatively affect its value.
ADDITIONAL COMMENTS
APPRAISER'S SIGNATURE & LICENSE/CERTIFICATION
Appraiser's Signature Effective Date Date PreparedAppraiser's Name (print) Phone #State License Certification # Tax ID #
CO-SIGNING APPRAISER'S CERTIFICATION
The co-signing appraiser has personally inspected the subject property, both inside and out, and has made an exterior inspection of all comparable saleslisted in the report. The report was prepared by the appraiser under direct supervision of the co-signing appraiser. The co-signing appraiser acceptsresponsibility for the contents of the report including the value conclusions and the limiting conditions, and confirms that the certifications applyfully to the co-signing appraiser.The co-signing appraiser has not personally inspected the interior of the subject property and:has not inspected the exterior of the subject property and all comparable sales listed in the report.has inspected the exterior of the subject property and all comparable sales listed in the report.The report was prepared by the appraiser under direct supervision of the co-signing appraiser. The co-signing appraiser accepts responsibility for the
contents of the report, including the value conclusions and the limiting conditions, and confirms that the certifications apply fully to the co-signingappraiser with the exception of the certification regarding physical inspections. The above describes the level of inspection performed by theco-signing appraiser.The co-signing appraiser's level of inspection, involvement in the appraisal process and certification are covered elsewhere in the addenda sectionof this appraisal.
CO-SIGNING APPRAISER'S SIGNATURE & LICENSE/CERTIFICATION
Co-SigningAppraiser's Signature Effective Date Date PreparedCo-Signing Appraiser's Name (print) Phone #State License Certification # Tax ID #
Page 2 of 2
Page #8Main File No. 11-00478
File No.:Property Address: City: State: Zip Code:Client: Address:Appraiser: Address:
Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.3/2007
11-00478Assumptions, Limiting Conditions & Scope of Work1903 Losey Blvd S La Crosse WI 54601
La Crosse County 400 4th St North, Room 1370, La Crosse, WI 54601-3200Emily Diefenbaugh 6579 Manna Ave, Cashton, WI 54619
STATEMENT OF ASSUMPTIONS & LIMITING CONDITIONS— The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The appraiserassumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basisof it being under responsible ownership.— The appraiser may have provided a sketch in the appraisal report to show approximate dimensions of the improvements, and any such sketchis included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. Unlessotherwise indicated, a Land Survey was not performed.— If so indicated, the appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or otherdata sources) and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because theappraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination.— The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specificarrangements to do so have been made beforehand.— If the cost approach is included in this appraisal, the appraiser has estimated the value of the land in the cost approach at its highest and bestuse, and the improvements at their contributory value. These separate valuations of the land and improvements must not be used in conjunctionwith any other appraisal and are invalid if they are so used. Unless otherwise specifically indicated, the cost approach value is not an insurancevalue, and should not be used as such.— The appraiser has noted in the appraisal report any adverse conditions (including, but not limited to, needed repairs, depreciation, the presenceof hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property, or that he or she became aware of during thenormal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of anyhidden or unapparent conditions of the property, or adverse environmental conditions (including, but not limited to, the presence of hazardouswastes, toxic substances, etc.) that would make the property more or less valuable, and has assumed that there are no such conditions andmakes no guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for anysuch conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because theappraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment ofthe property.— The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or sheconsiders to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such itemsthat were furnished by other parties.— The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional AppraisalPractice, and any applicable federal, state or local laws.— If this appraisal is indicated as subject to satisfactory completion, repairs, or alterations, the appraiser has based his or her appraisal reportand valuation conclusion on the assumption that completion of the improvements will be performed in a workmanlike manner.— An appraiser's client is the party (or parties) who engage an appraiser in a specific assignment. Any other party acquiring this report from theclient does not become a party to the appraiser-client relationship. Any persons receiving this appraisal report because of disclosure requirementsapplicable to the appraiser's client do not become intended users of this report unless specifically identified by the client at the time of theassignment.— The appraiser's written consent and approval must be obtained before this appraisal report can be conveyed by anyone to the public, throughadvertising, public relations, news, sales, or by means of any other media, or by its inclusion in a private or public database.— An appraisal of real property is not a 'home inspection' and should not be construed as such. As part of the valuation process, the appraiserperforms a non-invasive visual inventory that is not intended to reveal defects or detrimental conditions that are not readily apparent. The presenceof such conditions or defects could adversely affect the appraiser's opinion of value. Clients with concerns about such potential negative factorsare encouraged to engage the appropriate type of expert to investigate.
The Scope of Work is the type and extent of research and analyses performed in an appraisal assignment that is required to produce credibleassignment results, given the nature of the appraisal problem, the specific requirements of the intended user(s) and the intended use of theappraisal report. Reliance upon this report, regardless of how acquired, by any party or for any use, other than those specified in this report bythe Appraiser, is prohibited. The Opinion of Value that is the conclusion of this report is credible only within the context of the Scope of Work,Effective Date, the Date of Report, the Intended User(s), the Intended Use, the stated Assumptions and Limiting Conditions, any HypotheticalConditions and/or Extraordinary Assumptions, and the Type of Value, as defined herein. The appraiser, appraisal firm, and related parties assumeno obligation, liability, or accountability, and will not be responsible for any unauthorized use of this report or its conclusions.
Additional Comments (Scope of Work, Extraordinary Assumptions, Hypothetical Conditions, etc.):
Form GPRES2AD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
11-00478Assumptions, Limiting Conditions & Scope of Work1903 Losey Blvd S La Crosse WI 54601
La Crosse County 400 4th St North, Room 1370, La Crosse, WI 54601-3200Emily Diefenbaugh 6579 Manna Ave, Cashton, WI 54619
STATEMENT OF ASSUMPTIONS & LIMITING CONDITIONS— The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The appraiserassumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basisof it being under responsible ownership.— The appraiser may have provided a sketch in the appraisal report to show approximate dimensions of the improvements, and any such sketchis included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. Unlessotherwise indicated, a Land Survey was not performed.— If so indicated, the appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or otherdata sources) and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because theappraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination.— The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specificarrangements to do so have been made beforehand.— If the cost approach is included in this appraisal, the appraiser has estimated the value of the land in the cost approach at its highest and bestuse, and the improvements at their contributory value. These separate valuations of the land and improvements must not be used in conjunctionwith any other appraisal and are invalid if they are so used. Unless otherwise specifically indicated, the cost approach value is not an insurancevalue, and should not be used as such.— The appraiser has noted in the appraisal report any adverse conditions (including, but not limited to, needed repairs, depreciation, the presenceof hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property, or that he or she became aware of during thenormal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of anyhidden or unapparent conditions of the property, or adverse environmental conditions (including, but not limited to, the presence of hazardouswastes, toxic substances, etc.) that would make the property more or less valuable, and has assumed that there are no such conditions andmakes no guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for anysuch conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because theappraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment ofthe property.— The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or sheconsiders to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such itemsthat were furnished by other parties.— The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional AppraisalPractice, and any applicable federal, state or local laws.— If this appraisal is indicated as subject to satisfactory completion, repairs, or alterations, the appraiser has based his or her appraisal reportand valuation conclusion on the assumption that completion of the improvements will be performed in a workmanlike manner.— An appraiser's client is the party (or parties) who engage an appraiser in a specific assignment. Any other party acquiring this report from theclient does not become a party to the appraiser-client relationship. Any persons receiving this appraisal report because of disclosure requirementsapplicable to the appraiser's client do not become intended users of this report unless specifically identified by the client at the time of theassignment.— The appraiser's written consent and approval must be obtained before this appraisal report can be conveyed by anyone to the public, throughadvertising, public relations, news, sales, or by means of any other media, or by its inclusion in a private or public database.— An appraisal of real property is not a 'home inspection' and should not be construed as such. As part of the valuation process, the appraiserperforms a non-invasive visual inventory that is not intended to reveal defects or detrimental conditions that are not readily apparent. The presenceof such conditions or defects could adversely affect the appraiser's opinion of value. Clients with concerns about such potential negative factorsare encouraged to engage the appropriate type of expert to investigate.
The Scope of Work is the type and extent of research and analyses performed in an appraisal assignment that is required to produce credibleassignment results, given the nature of the appraisal problem, the specific requirements of the intended user(s) and the intended use of theappraisal report. Reliance upon this report, regardless of how acquired, by any party or for any use, other than those specified in this report bythe Appraiser, is prohibited. The Opinion of Value that is the conclusion of this report is credible only within the context of the Scope of Work,Effective Date, the Date of Report, the Intended User(s), the Intended Use, the stated Assumptions and Limiting Conditions, any HypotheticalConditions and/or Extraordinary Assumptions, and the Type of Value, as defined herein. The appraiser, appraisal firm, and related parties assumeno obligation, liability, or accountability, and will not be responsible for any unauthorized use of this report or its conclusions.
Additional Comments (Scope of Work, Extraordinary Assumptions, Hypothetical Conditions, etc.):
Form GPRES2AD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
File No.:Property Address: City: State: Zip Code:Client: Address:Appraiser: Address:
Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.3/2007
Page #9Main File No. 11-00478
File No.:Property Address: City: State: Zip Code:Client: Address:Appraiser: Address:
SIG
NA
TUR
ES
Client Contact: Client Name:E-Mail: Address:
APPRAISER
Appraiser Name:Company:Phone: Fax:E-Mail:Date Report Signed:License or Certification #: State:Designation:Expiration Date of License or Certification:Inspection of Subject: Interior & Exterior Exterior Only NoneDate of Inspection:
SUPERVISORY APPRAISER (if required)or CO-APPRAISER (if applicable)
Supervisory orCo-Appraiser Name:Company:Phone: Fax:E-Mail:Date Report Signed:License or Certification #: State:Designation:Expiration Date of License or Certification:Inspection of Subject: Interior & Exterior Exterior Only NoneDate of Inspection:
Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.3/2007
11-00478Certifications1903 Losey Blvd S La Crosse WI 54601
La Crosse County 400 4th St North, Room 1370, La Crosse, WI 54601-3200Emily Diefenbaugh 6579 Manna Ave, Cashton, WI 54619
APPRAISER'S CERTIFICATIONI certify that, to the best of my knowledge and belief:— The statements of fact contained in this report are true and correct.— The credibility of this report, for the stated use by the stated user(s), of the reported analyses, opinions, and conclusions are limited only bythe reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions.— 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 to 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 directionin value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequentevent 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 ofProfessional Appraisal Practice that were in effect at the time this report was prepared.— I did not base, either partially or completely, my analysis and/or the opinion of value in the appraisal report on the race, color, religion,sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property, or of the presentowners or occupants of the properties in the vicinity of the subject property.— 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.
Additional Certifications:
DEFINITION OF MARKET VALUE *:Market value means the most probable price which a property should bring in a competitive and open market under all conditions requisiteto a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus.Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditionswhereby:1. Buyer and seller are typically motivated;2. Both parties are well informed or well advised and acting in what they consider their own best interests;3. A reasonable time is allowed for exposure in the open market;4. Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and5. The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessionsgranted by anyone associated with the sale.* This definition is from regulations published by federal regulatory agencies pursuant to Title XI of the Financial InstitutionsReform, Recovery, and Enforcement Act (FIRREA) of 1989 between July 5, 1990, and August 24, 1990, by the Federal Reserve System(FRS), National Credit Union Administration (NCUA), Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS),and the Office of Comptroller of the Currency (OCC). This definition is also referenced in regulations jointly published by the OCC, OTS,FRS, and FDIC on June 7, 1994, and in the Interagency Appraisal and Evaluation Guidelines, dated October 27, 1994.
James Speropulos La Crosse [email protected] 400 4th St North, Room 1370, La Crosse, WI 54601-3200
Emily DiefenbaughSimmons R.E. Appraisal Service, LLC
(608) 633-2990 (608) [email protected]
October 12, 20111836-009 WI
12/14/2011
10/04/2011
Form GPRES2AD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
11-00478Certifications1903 Losey Blvd S La Crosse WI 54601
La Crosse County 400 4th St North, Room 1370, La Crosse, WI 54601-3200Emily Diefenbaugh 6579 Manna Ave, Cashton, WI 54619
APPRAISER'S CERTIFICATIONI certify that, to the best of my knowledge and belief:— The statements of fact contained in this report are true and correct.— The credibility of this report, for the stated use by the stated user(s), of the reported analyses, opinions, and conclusions are limited only bythe reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions.— 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 to 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 directionin value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequentevent 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 ofProfessional Appraisal Practice that were in effect at the time this report was prepared.— I did not base, either partially or completely, my analysis and/or the opinion of value in the appraisal report on the race, color, religion,sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property, or of the presentowners or occupants of the properties in the vicinity of the subject property.— 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.
Additional Certifications:
DEFINITION OF MARKET VALUE *:Market value means the most probable price which a property should bring in a competitive and open market under all conditions requisiteto a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus.Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditionswhereby:1. Buyer and seller are typically motivated;2. Both parties are well informed or well advised and acting in what they consider their own best interests;3. A reasonable time is allowed for exposure in the open market;4. Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and5. The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessionsgranted by anyone associated with the sale.* This definition is from regulations published by federal regulatory agencies pursuant to Title XI of the Financial InstitutionsReform, Recovery, and Enforcement Act (FIRREA) of 1989 between July 5, 1990, and August 24, 1990, by the Federal Reserve System(FRS), National Credit Union Administration (NCUA), Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS),and the Office of Comptroller of the Currency (OCC). This definition is also referenced in regulations jointly published by the OCC, OTS,FRS, and FDIC on June 7, 1994, and in the Interagency Appraisal and Evaluation Guidelines, dated October 27, 1994.
James Speropulos La Crosse [email protected] 400 4th St North, Room 1370, La Crosse, WI 54601-3200
Emily DiefenbaughSimmons R.E. Appraisal Service, LLC
(608) 633-2990 (608) [email protected]
October 12, 20111836-009 WI
12/14/2011
10/04/2011
Form GPRES2AD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
File No.:Property Address: City: State: Zip Code:Client: Address:Appraiser: Address:
SIG
NA
TUR
ES
Client Contact: Client Name:E-Mail: Address:
APPRAISER
Appraiser Name:Company:Phone: Fax:E-Mail:Date Report Signed:License or Certification #: State:Designation:Expiration Date of License or Certification:Inspection of Subject: Interior & Exterior Exterior Only NoneDate of Inspection:
SUPERVISORY APPRAISER (if required)or CO-APPRAISER (if applicable)
Supervisory orCo-Appraiser Name:Company:Phone: Fax:E-Mail:Date Report Signed:License or Certification #: State:Designation:Expiration Date of License or Certification:Inspection of Subject: Interior & Exterior Exterior Only NoneDate of Inspection:
Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.3/2007
Page #10Main File No. 11-00478
Property AddressCity County State Zip Code
Form PIC3x5.SR — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Subject Photo PageLa Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Subject Front
Sales PriceGross Living AreaTotal RoomsTotal BedroomsTotal BathroomsLocationViewSiteQualityAge
1903 Losey Blvd SNA2,106732UrbanCity Street.148 AcAverage60
Subject Rear
Subject Street
Client
Lender
Form PIC3x5.SR — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Subject Photo PageLa Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Subject Front
Sales PriceGross Living AreaTotal RoomsTotal BedroomsTotal BathroomsLocationViewSiteQualityAge
1903 Losey Blvd SNA2,106732UrbanCity Street.148 AcAverage60
Subject Rear
Subject Street
Client
Lender
Property AddressCity County State Zip Code
Page #11Main File No. 11-00478
Property AddressCity County State Zip Code
Form GPIC3X5 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Photograph AddendumLa Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Client
Lender
Form GPIC3X5 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Photograph AddendumLa Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Client
Lender
Property AddressCity County State Zip Code
Page #12Main File No. 11-00478
Property AddressCity County State Zip Code
Form GPIC3X5 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Photograph AddendumLa Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Ceiling Damage
Mold
Client
Lender
Form GPIC3X5 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Photograph AddendumLa Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Ceiling Damage
Mold
Client
Lender
Property AddressCity County State Zip Code
Page #13Main File No. 11-00478
Property AddressCity County State Zip Code
Form GPIC3X5 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Photograph AddendumLa Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Mold
Ceiling Damage
Client
Lender
Form GPIC3X5 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Photograph AddendumLa Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Mold
Ceiling Damage
Client
Lender
Property AddressCity County State Zip Code
Page #14Main File No. 11-00478
Property AddressCity County State Zip Code
Form GPIC3X5 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Photograph AddendumLa Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Client
Lender
Form GPIC3X5 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Photograph AddendumLa Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Client
Lender
Property AddressCity County State Zip Code
Page #15Main File No. 11-00478
2ft
10ft
25ft
11ft
26ft
Clo
set
Property AddressCity County State Zip Code
Form SKT.BldSkI — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Building SketchLa Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Client
Lender
2ft
10ft
25ft
11ft
26ft
Clo
set
Form SKT.BldSkI — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Building SketchLa Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Client
Lender
Property AddressCity County State Zip Code
Page #16Main File No. 11-00478
23ft
23ft
Closet
Clo
set
Closet
Property AddressCity County State Zip Code
Form SKT.BldSkI — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Building SketchLa Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Client
Lender
23ft
23ft
Closet
Clo
set
Closet
Form SKT.BldSkI — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Building SketchLa Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Client
Lender
Property AddressCity County State Zip Code
Page #17Main File No. 11-00478
Property AddressCity County State Zip Code
Form SKT.BldSkI — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
2010 Property RecordLa Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Client
Lender
Form SKT.BldSkI — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
2010 Property RecordLa Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Client
Lender
Property AddressCity County State Zip Code
Page #18Main File No. 11-00478
Property AddressCity County State Zip Code
Form PIC3x5.CR — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Comparable Photo PageLa Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Comparable 1
Prox. to SubjectSales PriceGross Living AreaTotal RoomsTotal BedroomsTotal BathroomsLocationViewSiteQualityAge
2903 31st St S0.94 miles SE52,5001,251532UrbanCity Street.193 AcAverage40
Comparable 2
Prox. to SubjectSales PriceGross Living AreaTotal RoomsTotal BedroomsTotal BathroomsLocationViewSiteQualityAge
2335 Prospect St4 miles N41,5001,892741UrbanCity Street.128 AcAverage~110
Comparable 3
Prox. to SubjectSales PriceGross Living AreaTotal RoomsTotal BedroomsTotal BathroomsLocationViewSiteQualityAge
1024 Saint Paul St3 miles NW33,0001,936942UrbanCity Street.172 AcAverage~91
Client
Lender
Form PIC3x5.CR — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Comparable Photo PageLa Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Comparable 1
Prox. to SubjectSales PriceGross Living AreaTotal RoomsTotal BedroomsTotal BathroomsLocationViewSiteQualityAge
2903 31st St S0.94 miles SE52,5001,251532UrbanCity Street.193 AcAverage40
Comparable 2
Prox. to SubjectSales PriceGross Living AreaTotal RoomsTotal BedroomsTotal BathroomsLocationViewSiteQualityAge
2335 Prospect St4 miles N41,5001,892741UrbanCity Street.128 AcAverage~110
Comparable 3
Prox. to SubjectSales PriceGross Living AreaTotal RoomsTotal BedroomsTotal BathroomsLocationViewSiteQualityAge
1024 Saint Paul St3 miles NW33,0001,936942UrbanCity Street.172 AcAverage~91
Client
Lender
Property AddressCity County State Zip Code
Page #19Main File No. 11-00478
Property AddressCity County State Zip Code
Form MAP.LOC — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Location MapLa Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Client
Lender
Form MAP.LOC — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Location MapLa Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Client
Lender
Property AddressCity County State Zip Code
Page #20Main File No. 11-00478
Property AddressCity County State Zip Code
Form MAP.FLOOD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Flood MapLa Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Client
Lender
Form MAP.FLOOD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Flood MapLa Crosse County1903 Losey Blvd SLa Crosse La Crosse WI 54601La Crosse County
Client
Lender
Property AddressCity County State Zip Code
Page #21Main File No. 11-00478