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Unitorm ReSlaentlal Ap pralSal Keport fie# 5132115 - 1 This report +arm is dat:tred td FOW an appraa" of a WO -Wo property or a a,$ -unit property wlm an accessory un+l: including a lint in a planned tint de MXTterR (PUD) This report form is not desigmid to reprxl an appraisal of a mmnufa tired hone or a unll In a conrlaninkmn or cooperative pm*t This appraisal report is subject to the Wowing scope of worts. Intendad use. kttentied use. dffliNtion of market value, slatenmrit of assuniptions and limping condtllons, and cediricatlnns_ Madillcatlons, additions, or deletlons to she irl;ended use, intended user, defriftlOn of market value. or asSumprions and firnittng conditions are nor pemirled. The appraiser may Pxpand rima scrape of work to include any additional research or analysis necessary based on the contpleft of ttils appralsal assignment. MoafAcatices. or deletions to the certllications are also rtol pemlltted. However, additional certificalions that do rnl CMIWIe 11140ial atterationS In this appraII0 report. Stich as these required by taw or these related to the appraIWs continuing educatial or menwership In an appralsal orgarriration. are permined SCOPE OF WORK: The scope of work for this appraisal is definrad ray Ilio cnrrrptoxfty of this aWalsai asslaxwt and the reportfrtl; requirements of this appraisal report lawn, including the lollawlnp definllion of manaet value. statement of assunptlons and YnWrIg wditldns. and certifications. The appraiser roust, at a minlrrium. (1) perfem a ornplele visual incl ectlon of the Interior and eklerlor areas al the subject prnpeny, (2) Inspect Ilia nelgFtwrhood. (3) ktsWi: each of the r,nn parablee sales from at ioasl tNe streoT, (4) research, verify, and analyte data Mani re WI& public arillor private snurcr..; -rad (5) report hie or her analysis_ npanirxrs, and oonclusi8ns in this appralsal reprio IhlTENOED USE: The Intended use of dthls appraisal report Is for the ienderrcll nt t4 evaluate the property that is the subjeel of Oils appraisal for a mortgage finance ii-ansardoh. INTENDED USER: The krtended user of Ills appralsal report is the lendeocliem. GEFINITION OF MARKET VALUE: The most pmbable price which a property should bring n a compathive and open r*rarket under all conditions requisite to a lair sale, the buyer and seller each acting prudently, knawtedgeady and assuming rhe price Is not affected by undue stlinulus hmplicil In this delinftion is the censumrnatlori of a sale as of a sp ailed date and the passing of UW nom seHM to buyer under conditions wheralry: (f) buyer and seller are typically motivated; (2) both parties are well inlINmed or vrell advised, and each acting In what he or she considers his or her own best interest. (a) a reasonable We is allowed for Wosure rn the open market; (4) payment is made in terms a1 cash In U 5 dollars or In terms of financial arrangements tamparable rhereto. and (5) me price represents the normal co+nsiaeration for the properly sM unatleeted ny spacial or aamide financing or sales concessions' granled ray arlyiJne associated with the sate_ 'Adjusninents w the cnrnlparables muss he made for speGaf ar creative financing or sofas oanceaslons NO adjustmerns are Fecessary fpr those rxtsts which aro normally paid by sailers 25 a MUM OI IMiJWn of taw In a m8rkiA area: these Casts are rvadlly ideroatrae since the seller pays mese casts in virtually all safes transactions. Special or creative firtandng adtusurlents cart he made to the conparabie property by comparisons to financing le(n)s offered by a gird party instjtudonai lender that 15 not already Involved in the p icperty or transaction_ Any 3ftSprrlert Shot4d flat be Catcutafed on a n*Qhanical dollar for dntlar cost of the financing or concession but Ilia dollar amount of any adlummerrt should aw4rnaAe the marw's reactkrn to the financing or eoncesslons based on the appralsev's judgment STATEMENT OF ASSUMPTIONS ANI7 LIMITING CONDITIONS: Ting appralser'S certlficatien In this rtperl is subject to to following assuniptfons and "ting eanditlois: I The appraiser will not be responsible far matters nt it legal nature Vial aflml either the property being appraksea Qr tha tille rn It, RXG(lpt far mferrttatran that he or she became aware of during the reseanrO lnwolved at parfrxmirrg this appraisal. The appraiser assdmes (hat the title Is good and markable and will net render airy Opinions. ahobt Ute title_ 2 The appraiser has provided a sketch lir this appralsal report to show the approximate dlmensions of the Improvements. Thr; skalch is inducted only to arslSl tl:e reader in v"ak2ing the prnperly and Understanding the dppr4$M'S detrrrrrinatl@Im (Ifi its size. 3 The appralser has exarnined the available Ill maps that are provided by dm kderai Emergency I'Aarragerhent Agency {or wirer data sourCes) and has rxlted in this appraisal report whether arty poninn of the subject site Is to led In an Identified Special Flood Hazard Area gecausa the appraiser Is not a surveyor, he or she makes no guarantees, express or 1111plic-3. rergardlnq this delerninatlon. 4 The appraiser will not give tes"nrerly or appear lr court because he Or she made an appraisal of die property In question. unlass sgo0lt. an(alrgrments to do So hie been made beforehand, or as otharwlso regdlred by low - 5 The appraiser has nates in this appraisal report any adverse "MiJons (sbch as needed repairs, daterioratian, the presence of hatdrdous wades_ Tacdc substances, eac.) observed during the inspe,ciitm of the 5ubjeCt pmoparty or that he or she became aware of during the research involved in parforming The appraisal. Unless attrervyise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physlcal defidendes or adverse conditions at the prnperty (such as, but W Yrmnid to, needed repairs, detarincrMon, the presence of hazardous wastes, InAc substances. adverse anvirnnrrrentai condillans, etc) mai would rake the properly less valuable, and has assumed that here azo na such condliinns and makes no guaran;w Dr warrantim express ur implied. The appraiser writ nol be responsible fix arty such mnditl+ins that do e4st or fpr any engineering or testing Thal might W required to discover whether Such cenditlrxtS ehdst. Because the appralser is not an Merl in the field of environmental hazards. this appraisal report must not be considered as an environrr won assessment of the property. U The aplaralser has based lits or her appraisal repent and vakiallon conclusion for an appraisal fiat is subject IQ satisintory completion. repairs. OF atterattons on the assumptkrn that fine completion. repairs. or aherattrxts of the subject propertli writ be pWarrsed in a pmtessional manner. Freddie Mac Folm 70 March 20(15 LIM)Version 912011 Rage 4 of G FwAe Mae form ION MOICIP 20fib form I0NI.M • TUT AL' appraul; s&%are by a la rnede. inr. • 1.&M-AJ..mM