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HANSON APPRAISAL SERVICES, INC. 10473186 Uniform Residential Appraisal Report File No. 105181-4 .., r o~n nnn There are 2 com ara ble ro rties wrrentl offe red for sale in the wb'ect nei hborhood ran in i m nee n.,. , . ~ ~~- - in sale ice from S 178 000 -- - to $ 208 000 There are 4 com ara ble sales in the wb~ect nc n hborhood wNhin the asl twelve months ran 1 MPARABLE SALEN0 COMPARABLESALE N0.2 COMPARABLE SALE N0.3 FEATURE SUBJECT . CO e NW h A 18561 Ulysses Street NW t N l St Y W 10844 180th Avenue NW venu 10819 180t ree a e 17123 Elk River Elk River Address EIk River ~ EIk River 22 miles NNE 1 1.23 miles NNE 1.88 miles N cct Proximi toSub 8 195 000 . 8 208,000 5 180,000 8 185,000 Sale Price A f[ 82 S 108 S 131.90 . ft. E 111.87 . h. S 101.54 s . ft. rea Sale PncdGoss Liv. . . . MLS DOM 65 MLS DOM 535 MLS DOM 114 Data Sources Coun Records Coun Records Coun Records Verification Sowce(s) VALUEADIUSTMENTS DESCRIPTION DESCRIPTION .41sAd~ acm DESCRIPTION .ys ~ DESCRIPTION a(IS~-v~cn Sale or Financing NA Conv COnv COnV 0 Points 0 Points 0 Points Concessions T 02/03/2010 10/14/2009 10/15/2009 07/24/2009 ime Date ofSale/ Good/End unit Good/End unit Av ./Middle unit 10,000 End UniVGood Location LeasenotdlFeeSim le Fee Sim le Fee Sim le Fee Sim le Fee Sim le 2 ft 614 S Site 3854 S .Ft. 5,356 S .ft. -1 000 3 484 S .ft. , . . Avers e V1eW Averse Townhome Averse Townhome Avers e Townhome Townhome Desi n St e) Quali w Conswcdon Good Good Good 000 -2 Good 4 -4 000 8 6 -2 000 6 , Actual A e d G Good GOOd Good Condition OO roar eara,s Baia Above Grade T~ amm:. ~r~ Tp1a1 ~' ~~ raa ~. ~~ 5 6 3 2 -2 500 Room Count 5 2 2 6 2 2 ft 577 1 450 6 6 2 2 609 .h. 1 5,490 . 1,822 .h. -900 GossUvin Area 30.00 1 792 s .h. . s . , , , W/O t 000 -2 Full Bsmt. W/O -2,000 easement&Finisned Full Basement Full Basement 1 1105fsf 1 2 765 . Full Bsm 2-1-1, 1,120fsf , 540 Unfinished 17,340 Rooms BelowGratle 3-2-0, 1,156fsf - - Avers e Functional Ulilil Averse Gas FWA C/Air Averse Gas FWA C/Air Averse Gas FWA C/Air Gas FWA C/Air • Heali ICoolin Ener Effcientltems Standard EE Standard EE gtandard EE Standard EE Gera e 2 Att Gera elCar on 2 Att. Gera e 2 Att. Gera e 2 Att. Gera e 000 -4 . Deck -3,D00 k i lD None Deck -3,000 Deck,Patio , ec o P«dVPat F/P F/P F/P F/P N Central vacuum -2 000 None None _ one A liances A liances A liances A liances 8 030 X * - E 4,940 ~ ' + X . g 785 X + - S stmerx Total Nel Ad Adjusted Sale Price Net Adj. -0.4% Net Adj. 4.5% 4 ~ 188 030 Net Ad 2.7% J~ 16.1% Goss Ad' E 189 940 bles C Goss Ad~. 7.3% S 207 215 % . 13. Goss 5 . om ara of I X did did not research the sale or transfer history of the subject property and comparable sales. !(not, explain M rewarch X did did not reveal an for sales a Vansfers of the wb~ect o f« the three ars ' r to the effective date of this a sisal. Data source s) Coun Records M research did X did not revral an '« sales or Vansfers of the co rable sales I« the ear i« to the date of sale of the cam rable sale. oats source sl Coun Records R the rewas of the research and ana 's W the riot sale «Vansfer Msto of the wb~ect o and co arable sales re additional for sales on 3). MPARABLE SALE N0.3 COMPARABLE SALE N0.2 ITEM SUBJECT COMPARABLE SALE N0.1 None 06/09/2009 None None Date at Ri« SalolTrenster None None Rke of Poi« Saleltransfer $178 000 None Count Records Coun Records Coun Records d s Data Sources Coun Recor 02!17(2010 02/17/2010 ERective Date of Data Source s) 02/17/2010 02/17/2010 has one recorded sale in the ast 36 months. Sale ' ect roe Analysis of prior sale or vansfer history of the wbjeclproperty and comparable sales Tha sub was a bank owned home at that time. None Of ' ect roe occurred 06109/2009 for 178 000 dollars, er coon tax records. The sub the com arable ro rties have sold the revious 12 months. Summary of Sales Compadwn Approach. $BB Attached Addendum. Indicat Value b Sales Co icon A oath S 196 000 000 Cos[A oath (ifdevelo edJS 199 800 IncomeA roach (i/deveb ed)S N/A hE196 , Indkatad Valueb : Sales Cam aristmA roac See Attached Addendum. " subject to completion per plans and specifications on the basis of a hypothetical conditon that the improvements have been completed, X "as is d , e This appraisal is ma ect to the (oAOwing repairs «alterations on the basis of a hypothetical condition that the repairs « alterations have been comp)«ed, « ^ subject to the following required b ith USPAP su j . inspetxion based on the extra«dinary aswmpbon that the condition or deficiency does not require alteration or repair. This re ort is intended to com I w Based on a complete visual f nspection oT the interior and exterior areas of the subject property, defined scope of work, statement of assumptions antl limiting ODO $ 196 i , s conditions, antl appraiser's certHicahon, my (our) opinion of the market value, as tlelined. 01 the real property that is the subject of this report ___ as Of 02/17/2D1D whic74islhe aaleorms nonarwa„o a..~..•.•---•-- -- Falxie Mae Fmn lWl Marty 2005 Fretltlle Ma[ Fa'ni 70 Maim 2005 Roh[W u9y ACI snMr e.800.21/ a1Z] xw.vstrx!~can 1004 05 b90709 Page2d6 Hanson Appraisal Services, Inc.