04-22-1998 Board of Review Packet

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1. I have researched the subiecl market area and have selected a minimum ol three recent sales ot properties most similar and proximate to the subiecl ptoperlv for consideration in the sales comparison analysis and have made a dollai adiustmeni when appropriate to relied the market reaction to those Hems ol signilicani vanalion It a signilicani Hem in a comparable properly is superior to, or more favorable than, the subject property. I have made a negative ad|ustinenl to reduce the adjusted sales price o( the comparable and, H a significant Hem in a comparable properly is inferior to. or less favorable than the subject properly I have made a positive adjustment to increase the adjusted sales price ot the comparable. 2 I have taken into consideration the factors that have an impact on value in my development ot the estimate of market value in the appraisal report I have not knowingly withheld any significant information from the appraisal report and I believe, to the best of my knowledge, that all statements and inlormalion in the appraisal report are true and correct. 3. I staled in the appraisal report only my own personal, unbiased, and prolessional analysis, opinions, and conclusions, which are subject only to the conlinoenl and limiting conditions specified in this form 4. I have no present or prospective rnicesi in the property that is the subject to this report, and I have no present or prospective personal interest or bias with resjwct to the participants in the transaction I did not base, either partially or completely, my analysis and,or the estimate of market value in the appraisal report on the race, color, religion, sex. handicap, familial status, or national origin ol either the prospective owners or occupants ol the subject properly or ol the oresent owners or occupants ot the properties in the vicinity ol the subject properly 5. I have no present or contemplated future interest in the subject property, and neither my current ot tuture employment not my compensation for pertormino this appraisal is coniingent on the appraised value of the properly ^ 6^ I was not required to report a predetermined value or direction in value that favors the cause ot the c any retated party, the amount ol the value estimate, the attainment oi a specific result, or the occurrence ol a subsequent event in order to receive my corr .motion and/or employment lor performing the appraisal I did not base the a.ipraisal report on a lequcsted minimum valuation, a specitic valuation, or the need to approve a specdic mortgage loan 7. I pertormed this appraisal in conloimity with the Uniform Standards of Prolessional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board ot The Appraisal Foundation and that were in place as of the effective date ol this appraisal, with the exception ol the departure provision ol those Standards, which does not apply. I acknowledge that an estimate of a reasonable time lor exposure in the open market is a condition in the delinilioii ol inaiket value and th. estimate I developed is consistent with the marketing time noted in the neighborhood section of this report, unless I have otherwise stated in the reconciliation section 8. I have personally inspected the interior and exterior areas ol the subject property and the exterior ol ail properties listed as comparables in the appraisal report. I further certity that I have noted any apparent or known adverse conditions in the subject improvements, on the subject site, or on any site within the immediate vicinity ol the subject property ol which I am aware and have made adjustments lor these adverse conditions in my analysis ol the properly value to the extent that I had market evidence to support them I have also commented about the effect of the adverse condilions on the marketability ol the subject property. 9. I personally prepared all conclusions and opinions about the real estate that were set lorth in the appraisal report. It I relied on significant professional assistance from any individual or individuals in the performance ol the appraisal or the preparation ol the appraisal report, I have named such individual(s) and disclosed the specific tasks pertoimed by them in the reconciliabon section ol this appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorised anyone to make a ciiange to any item in the report, therefore, if an unauthorised change is made to the appraisal report. I will take no responsibility lor it SUPERVISORY APPRAISER’S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies and agrees that: I directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report, agree with the statements and conclusions ol the appraiser, agree to be bound by the appraiser ’s certitications numbered 4 through 7 above, and am taking lull responsibility lor the appraisal and the appraisal report. ADDRESS OF PROPERTY APPRAISED: 256S Punwoody Avenue, Wayr.atriy Mn 5.b391 ________ APPRAISER: V// / //^ Signature SUPERVISORY APPRAISER (only if required): Name! william C. Warner _ Name Data Signed:Date Signed: State Certification #:State Cerliticalion #: or State License ^ 4 oooo m:. , or Slate License Sidle Mn State: Expiration Date ol Certification or License; 8/31/99 Exoiralion Date ol Cerlilication or License: Did L-.J Did Not Inspect Properly Freddie Mac Form 439 6*93 Page 2 of 2 Form ACR — "TOTAL 2000 for Windows" appraisal software by a la mode, inc — 1-800-ALAMODE Fannie Mae Form 1004B 6-93