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BCL APPRAISALS, INC. Uniform Residential Appraisal Report FileNo. 112881J The purpose of this summary appraisal report is to provide the lentler/client with an accurate, and adequately supported, opinion of the market value of the subject property. Pro ert Address 1120 Cox Farm Road Cit Orono state MN zi Code 55356 Borrower Gre or and Laura Wa ener Owner of Public Record Gre or & Laura Wa ener Counc Henne in Le al Descri �ion Lot 005 Block 001 Shadowood Farm Assessor's Parcel# 2711823310021 Tax Year 2011 R.E.Taxes S 6,094.34 Nei hborhood Name Shadowood Farm Ma Reference 103-D1 Kin 'S Census Tract 272.01 Occu ant X Owner Tenanl Vacant S ecial Assessments$ NOne PUD HOA$ 700.00 X er ear er month '� Pro ert Ri hts A raised X Fee Sim le Leasehold Ocher(describe Assi nment T e Purchase Transaction X Refnance Transaction O[her(describe) �ender/Client Bank VI Address 1900 South Ohio, Salina, KS 67401 Is the sub ect ro ert currentl offered for sale or has it been offered for sale in the twelve months rior[o[he ef(ective date of this a raisal? X Yes No Report data source(s)used,offering price(s),and date(s). DOM 377;Was sold as of 07/07/2010 for$648,000. The reference number is 3945663 as rovided b NStarMLS da s on market is 377. Home was ori inall listed for$648 000 on 7/7/2010. On <continued in addendum > I did did no[analyze the contract for sale for the subject purchase transaction.Explain the results o(the analysis of the contract for sale or why the analysis was not performed. . Contract Price S Date of Contract Is the ro ert seller the owner of ublic record? Yes No Data Source(s) Is there any fnancial assistance(loan charges,sale concessions,gift or downpayment assistance,etc.)to be paid by any party on behalf of the borrower? Yes No � If Yes,report the total dollar amount and describe the items to be paid. Note.Race and[he racial com osition ofthe nei hborhood are nota raisal facrors. Neighborhood Characteris[ics One-Unit Housing Trends One-Uni[Housing Presen[Land Use% Location Urban X Suburban Rural Pro er[ Values Increasin X Stable Declinin PRICE AGE One-Unit 100 °/o Built-U Over 75% X 25-75% Under 25% DemandlSu I Shorta e In Balance X Over Su I S(000) ( rs) 2-4 Unit % • Growth Ra id X Stable Slow Marketin Time Under 3 mths 3-6 mths X Over 6 mths 100 Low New Multi-Famil % � Neighborhood Boundaries Northern boundar is Co. Road 6, eastern bounda is Ferndale Road, 5900 Hi h 110 commercial % ! southern bounda is Lake Minnetonka, and western bounda is North Shore Drive. 823 Pred. 40 other °�o • Neighborhood Description Sub'ect is in the cit of Orono with a Lon Lake mailin address. Orono is west of Wa zata and surrounds the north shore of Lake Minnetonka. Public schools are in the Orono, Mound/Westonka, and Wa zata school districts. Market Conditions(including support for the above condusions) See Attached Addendum Dimensions 68.36 x 132.01 x 511.99 x 235.22 x 406.03 Area 2.35 aC Sha e Irre ular View N;ReS;Ct St� S ecificZonin Classification RR-1B Zonin Descri tion One Famil Rural Residential Zonin Com liance X Le al Le al Noncon(ormin (Grandfathered Use No Zonin Ille al(describe Is the highest and best use o(the subject properry as improved(or as proposed per plans and specifications)the present use? X Yes No If No,describe. SurrOundin nei hborhood is com osed of homes of similar use and nature, so the current use is the hi hest and best use. Utilities Public Other(describe) Public Othcr(describe) Off-si[elm rovemen[s—T e Public Private E�eccricic X water X Private We�l Screec As halt X Gas X sanicar sewer X Private Se tic Alle None FEMA S ecial Flood Hazard Area Yes X No FEMA Flood Zone X FEMA Ma # 270178 0302E FEMA Ma Date 09/02/2004 Are the utili[ies and off-site im rovements t ical(or the market area? X Yes No If No,describe. Are there any adverse site conditions or external factors(easements,encroachments,environmental conditions,land uses,etc.)? X Yes No If Yes,describe. SUb�eCt Slte is ad acent to a count road, so does face some external obsolescence. The have extended the rivac fence between the road and house, so traffic is not as visible nor intrusive. Cox Farm Road is a rivate road maintained b the homeowner's association. GENERALDESCRIPTION FOUNDATION EXTERIORDESCRIPTION ma[erials/condition INTERIOR materials/condition Units X One One with Accessor Unit Concrete Slab Crawl S ace Foundation Walls ConCBIoCk/Ave Floors HW/C t/V UGd k of Stories 2 I X Full Basement Partial Basement Exterior Walls Stucco/Avera e Walls Dr walUGood T e X Det. Att. S-DeL/End Unit Basement Area 1345 s .ft. Roof Surface As hShin /Ave Trim/Finish Stained/Good X Existin Pro osed Under Const. Basement Finish 75% Gutters&Downs outs Ade Overhan /Av Bath Floor CTile/Good Desi n(St le) Tw0-StOf X Outside Ent /Exit Sum Pum Window T e Csmt/Avera e Bath Wainscot CTile/Good Year Built 1998 Evidence of Infestation Srorm Sashllnsulated COmbinatiOn/Ave Car Stora e None Effective A e Yrs 13 Dam ness SetUement Screens Yes/Avera e Drivewa #of Cars 6 Attic None Heatin X FWA HWBB Radian[ Amenities WoodStove(s)#0 Drivewa Surface AS halt/Ave Dro Stair Stairs Other Fuel Ges X fire lace(s)ri 1 Fence NOI1e X Gara e �of Cars 3 Floor X ScutUe Coolin X Central Air Conditionin X PatiolDeck Dk,P X Porch Screen Car ort N of Cars 0 Finished Heated Individual Other Pool NOne Other NOne X AtL DeL Built-in A liances P ReGi erator X Ran elOven X Dishwasher Dis osal X Microwave P WashedDr er Other describe Finished area above qrade contains: 8 Rooms 3 Bedrooms 2.1 Ba[h(s) 2,672 Square Feet of Gross Livinq Area Above Grade