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Agenda 09/27/2016 Item #11A 11.A 09/27/2016 EXECUTIVE SUMMARY Recommendation to consider a request to release a parcel of land from the GAC Future Land Sales List to allow the adjacent property owner to purchase the parcel pursuant to the terms of the 1983 GAC Land Trust Agreement. OBJECTIVE: To consider the release of a parcel of land currently on the GAC Future Land Sales list. CONSIDERATION: On March 26, 2013, agenda item 16E1, the Board approved a recommendation from the GAC Land Trust Committee (`Committee') to reserve from sale a list of properties during the economic downturn until such time as they could yield higher revenue for the Golden Gate Estates Land Trust (`Trust'), which was established to benefit the residents of Golden Gate Estates. This methodology is consistent with the1983 Agreement. At the August 22, 2015 of the GAC Land Trust meeting, the County's GAC liaison, presented a request from a property owner living adjacent to one of the GAC Land Trust properties asking to purchase a 1.14 acre, non-buildable, vacant parcel, which is located on 40`h Avenue SE, and further described as Golden Gate Estate Unit 93, the East 75 feet of the West 180 Feet of Tract 48 (Property); an exhibit is attached for reference. At that time, the property had been reserved by the Greater Naples Fire Rescue District (District) for future use. Discussions at later meetings resulted in the District decision to relinquish its reservation of the subject parcel. The Committee further discussed the property release at subsequent meetings, and at their March 21, 2016 meeting. Though a formal vote was not taken, the consensus of the Committee was to deny the request stating that if the property were retained, it could potentially generate more revenue at a later time. The minutes from the March 21, 2016 meeting make note that a vote had been taken at a previous meeting, but in actuality, a formal vote had not been taken. Staff will amend the minutes to reflect this error at its next meeting in October. At the March meeting, it was discussed that all remaining properties to be sold should be sold at 100%of the appraised value. The 1983 Agreement states, 'the contemplated conveyance may be consummated only if the sales price is ninety percent or more of the appraisal fair market value.' Though the Committee suggested that this condition of the Agreement be revised and approved by the Board, the 1983 Agreement provides for the properties to be sold at 90% or more of the appraised value. In staffs discussions with Avatar, it has been agreed to the properties being sold at 100% of the appraised value. This provision will also be included in the Reverter Discharge and Release form that is provided to Avatar for this transaction. Pursuant to the Collier County Land Development Code (LDC), a lot of record created after October 14, 1974, which results when a lot is split from the parent tract creating a parcel less than 2.25 acres, would be designated `non-conforming' or `non-buildable.' The Property in question was split from the parent track in1980 therefore becoming a non-buildable lot. The Collier County Property Appraiser's database currently shows the 2016 land value for the Property as $8,835. The in-house Appraiser established a value of$8,000 taking into consideration the non-buildable status. The in-house Appraiser is not an MAI appraiser as required by the Agreement. Having evaluated the request, Staff believes that a sale at 100% of the appraised value is in the best interest of the County and the residents of Golden Gate Estates. I Packet Pa. 69 11.A 09/27/2016 FISCAL IMPACT: If the Board approves the sale of the parcel, the sale proceeds will be deposited into Fund 605. GROWTH MANAGEMENT: There is no Growth Management Impacts associated with this Executive Summary. LEGAL CONSIDERATIONS: This item is approved for form and legality and requires a majority vote for Board action. -JAB RECOMMENDATION: That the Board of County Commissioners considers releasing the East 75 feet of the West 180 feet of Tract 48, Unit 93, Golden Gate Estates, from the GAC Future Land Sales List, waives the requirement for an appraisal by an MAI, and authorizes staff to negotiate a sale of the Property for one hundred percent of the staff conducted appraised value. If approved, a Sale Agreement will be brought to the Board at a later date. PREPARED BY: Michael Dowling, Senior Property Management Specialist Division of Facilities Management ATTACHMENT(S) 1. GAC Parcel Release Consideration Aerial Exhibit (DOCX) 2. GAC Minutes March 21, 2016 (PDF) 3. GAC Appraisal September 2016(PDF) I Packet Pg. 70 11.A 09/27/2016 COLLIER COUNTY Board of County Commissioners Item Number: 11.A Item Summary: Recommendation to consider a request to release a parcel of land from the GAC Future Land Sales List to allow the adjacent property owner to purchase the parcel pursuant to the terms of the 1983 GAC Land Trust Agreement. (Len Price, Administrative Services Department Head) Meeting Date: 09/27/2016 Prepared by: Title: Property Management Specialist, Senior—Facilities Management Name: Michael Dowling 09/15/2016 2:08 PM Submitted by: Title: Division Director -Facilities Mgmt—Facilities Management Name: Dennis Linguidi 09/15/2016 2:08 PM Approved By: Review: Facilities Management Len Price Level 1 Add Division Reviewer Skipped 09/16/2016 11:55 AM Administrative Services Department Len Price Level 1 Division Reviewer Completed 09/19/2016 1:34 PM Facilities Management Toni Mott Level 1 Add Division Reviewer Completed 09/19/2016 2:21 PM County Attorneys Office Jennifer Belpedio Level 2 Attorney of Record Review Completed 09/19/2016 3:08 PM Administrative Services Department Len Price Level 2 Division Administrator Review Completed 09/19/2016 4:31 PM Office of Management and Budget Valerie Fleming Level 3 OMB Gatekeeper Review Completed 09/20/2016 8:24 AM Office of Management and Budget Laura Wells Level 3 OMB 1st Reviewer 1-4 Completed 09/20/2016 9:19 AM County Attorneys Office Jeffrey A.Klatzkow Level 3 County Attorneys Office Review Completed 09/20/2016 1:35 PM County Manager's Office Leo E.Ochs Level 4 County Manager Review Completed 09/20/2016 2:03 PM Board of County Commissioners MaryJo Brock Meeting Pending 09/27/2016 9:00 AM I Packet Pa. 71 11 A a1:- 3 40th Avenue SE t .. • .M . te, al S 64 " to � SUBJECT ° 1 ._ C1 LL Yl I L a- N w El ec • a.�.._,xv... www.. .r...�"` i-7 '6`.-•.;:-:-.4..--174-"--;:".:,-74..,. "�"..-7 _.,,..�„'-„2 „'„,1" w, - Q v` 3w . n x w r ,ergs , , � 'z: O • in nollwr Loom1le PrdR ly.4hpra+cr,laa i ,. . . . C 0 d Cl) l4 d d IX Tu C-) I_ l6 a U Q C9 w c d E C) iv 4.. w Q I Parket Pn 79' 11.A.b MINUTES Golden Gate Estates Land Trust Committee Monday, March 21, 2016, 5:30 p.m. Big Corkscrew Island Fire Control & Rescue District Station 10—Administration Office Committee Members Chairman: Jeff Curl -present Vice-Chairman: Pat Humphries - present Member: Mark Fillmore - present Member: Carol Pratt—present Member: Annette Kniola—present co County Staff N Michael Dowling: Collier County Real Property Management co Guests Chief Kingman Schuldt. Greater Naples Fire Control and Rescue District 2 Tara Bishop, Deputy Director, Greater Naples Fire Control and Rescue District a 1. Call to order: Jeff called the meeting to order at 5:35 pm 2. Approval of current agenda: Jeff asked if anyone had any revisions or questions and called for a N motion to approve the agenda as presented. Annette made the motion to approve the agenda as N presented and Mark seconded, Jeff called the vote, and all were in favor. .5 U 3. Approval of the Minutes for the meeting for January 25, 2016: Jeff asked if anyone had any revisions or questions and called for a motion to approve the Minutes as presented. Pat made the motion to approve the Minutes as presented, Annette seconded the motion, Jeff called the vote, and all were in favor. o U 04. Treasurer's Report — not available. Michael provided the cash balance from the January meeting which was $926,533.13. 5. Update on Golden Gate Fire Control and Rescue District / Greater Naples Fire Control and Rescue District: Update from Chief Kingman Schuldt or his representative Executive Summary went to BCC June 9, 2015 to extend the term of the original Agreement for purchases to be completed by July 31, 2016. To-date, paperwork has been processed for $76,272.15 of the $150,000 funds the Committee approved: 11.A.b Chief Schuldt and Tara Bishop attended the meeting and the Chief informed the Committee that one of the three trucks has been completed. The Chief said that the retrofitting project has been a longer process than anticipated due to the combining of three Fire Districts (East Naples, Golden Gate, and Isles of Capri Fire Districts), as well as several issues with obtaining parts for the trucks. Jeff asked if the Fire District would require an extension to the Agreement since the expiration date was the end of July, 2016. The Chief said he would request that the Committee provide a six-month extension in order to complete the two brush trucks. Jeff agreed and asked the Committee to make a motion to extend the current Agreement for an additional six-months. Mark made a motion to extend the Agreement for an additional six- month extension, Annette seconded, Jeff called for the vote, and all were in favor. Michael said he would prepare the Amendment to the Agreement and submit that to the Board of County Commissioners for approval. Chief Schuldt told the Committee he will return in September with an update on the project. Jeff said he could provide an email or letter and it wasn't necessary to appear in person. c There was a brief discussion started by Chief Schuldt that the District would like to make some improvements to the Safe House and the Committee commented on the need for new flooring, repairs to the smoke machine, and maybe update the exhibit with some kind of interactive touch screen monitors. The Chief said there is discussion about tailoring the exhibit for younger and older visitors so that the exhibit has more of an educational impact for each group. Jeff suggested a including something to show visitors the size of the area the District responds to and to use the exhibit to get young people interested in becoming fire fighters. The Chief said he would come 0 back to the Committee at a later date to discuss the proposed renovations to the Safe House as well as other ideas and he would welcome the Committee's input. h Michael stated that he met with the Greater Naples Fire Control and Rescue District and the District did not have any need for the two reserved properties in Unit 93 and the Chief confirmed that. 6. Other business: Michael asked if the Committee wanted to readdress the release of the two parcels in Unit 93 again now that the Fire District has no need for the properties. Jeff said that he does not want the properties to be sold at this time, but if anyone wanted to reconsider the vote from the previous meeting, he'd entertain a discussion. There was no further discussion so the vote from the January 25, 2016 meeting stands which is not to release the two properties. Michael advised the Committee that even though the Committee has voted to not release the properties, the Board of County Commissioners will have to be petitioned for approval of the cu Committee's recommendation. . w 7. Public Comment: None 8. Next Meeting Date: May 23, 2016 9. Adjournment: 6:25 pm August 22, 2016 ieftCi ,.Chairman'` I Packet Pg. 74 Vacant Land Appraisal Report GAC Land Trust Subject Property olio Number:41713880000 ame:COLLIER CNTY Stree,単 `ヒ Name: Build#/Unit岸 :48/0 Legal Description:GOLDEN GATE EST UNIT 93 E 75FT OF W 180FT OF TR 48 Real Property Management GAC Land Trust %Michael Dowling This appraisal report has been prepared for our client, GAC Land Trust and the Collier County Board of Commissioners. The intended use was to assist the client in internal decision making. The scope ofwork performed is specific to the needs ofthe intended user and the intended use also no other use is warranted. The scope ofwork may not be appropriate for other uses. The scope ofwork perlormed included a complete analysis ofthe Subject Property with consideration given to the three applicable approaches to value. The Sales Comparison Approach to value is the most reliable when the subject property is vacant land. The subject property is approximately [ .14 acres consisting I folio number contained within the appraisal report. The legal description is attached within the complete appraisal report. The current owner ofthe above mentioned parcels is BCC/GAC Land Trust. A permitting review was conducted on the subject property, and it was determined that the subject property is non-permitable The scope ofthe appraisal assignment is to value the subject property in fee simple, therefore based upon the scope ofthe appraisal assignment, the investigation and analysis of information contained during ihe research ofmarket data in this report, as well as my general knowledge ofreal estate valuation procedures and current market conditions, it is my opinion that the estimated value "as is" on the subject Property is $8,000 Dollars as ofSeptember 12,2016. Roosevelt Leonard, R/W-AC Sr. Review Appraiser Real Property Management 3335 TamiamiTrail East ste. 101 Naples. FL 34112 Pht 239 252-262L The subject property is a GAC 1 .14 acre vacant land parcel. A permitting review and analysis was conducted to determine if the parcel is buildable or non-buildable. The results indicated for a GGE unit 93 lot, the lot will have to be a lot ofrecord on or before January 5, 1982 in order to be considered as a permitable-buildable lot according to the Growth Management Division (GMD). The Collier County Property Appraiser's Office researched their records also and they indicated a year of 1985 lot split, however, they did reference a GMD 2005 spreadsheet listing all Avatar properties, and the subject property is on that list as a permitable-buildable lot. Taking too a senior personnel at GMD Mr. John Houldsworth, he also indicated that the Avatar Properties were added later to the list of permitable-buildable due to either default or other previous contracts after 1982. The valuation analysis in this appraisal report is based on the subject property being non permitable-buildable. Ifany future information is presented that will contradict the research, then the market value in this appraisal report will be affected. The review appraiser will place most weight on the formal review rather than the quick search of GGE properties. (Attached in addendum) SUB」ECT PROPERTY COMPARABLE N0 1 COMPARABLE N0 2 COMPARABLE N0 3 COMPARABLE N0 4 COMPARABLE N0 5 XXX 40TH AVE SE 3778 EVERGLADES BL S 穂 34th AVE SE 慧 40TH AVE SE 継 32ND AVE SE TX ID 41713880000 TX ID 41717960007 TX ID 41711960003 TX ID 41712360000 TX lD 41345240005 Property Appraiser Sales Property Appraiser Sales Property Appraiser Sales Property Appraiser Sales Property Appraiser Sales Property Appraiser Sales Descripton +/_s Adiustment IESCRIPT10 +たS Adiustment ,ESCRIPTlol +/-$ Adiustment +/_$ Adiustmeni +/_$ Adiustmenl +′$Adiustment 06/06/16 10/22′15 04/06ノ 16 06/16/16 03/29/16 ESTATES SIMILAR Superior ―Sl,500 SIMILAR Superior ‐Sl,500 Residenual SlMILAR SIMILAR SIMlLAR SIMlLAR 1 14 ac 1 17 ac 1 14 ac 2 27 ac 1 14 ac VACANT VACANT $0 VACANT VACANT VACANT TREED LOT TREED LOT TREED LOT TREED LOT TREED LOT S0 ACCESS ACCESS ACCESS S0 ACCESS ACCESS Non bu∥dable )ermitable ‐Sl,000 Permitable ―Sl,000 permitable ―Sl,000 ,ermitable ‐$1,000 CASH CASH CASH CASH CASH The subject property is 1.14 acres, taking into consideration the current market data, the averageadjustedpriceperacreofthe4comparablesis56,682sayST,000peracre.The 57,000 will be the base unit price per acre for a non-permitable lot. The subject property is 1.14 acres x 57,000 is 57,980 say 98,000 dollars. Real Estate Appraiser Roosevelt Leonard′R/W―AC Sr.Re宙 ew Appraiser 9/12/2016 $7,500 Sl1 000 S14,000 Sll,000 6.410 AC 9 649 AC 6,167 AC 9,649 AC Adluヽ sales price $7000 S8,500 S13000 S8,500 Plce pell Acre $6000 S7,500 S5,730 $7,500 COMPARABLE SALES LOCAT10N MAp ハenaIPM"r●plr"nu“γu戯隠n_20,0‐Ru口 :‐2110 AREA MAP Golden Gate Estates 14th Ave SE 16い Att SE 181h A■SF 22nd Ave St 24th^"SL 300Aい o SC 32ndハ″e SE 34●力"SC 36th Ave SC 386A"SL SutteCt PropeⅢ Addendum o GMD Vacant Land (lot review) o Plat Map o Collier County Property Appraiser review . Appraiser's Certification Naples Real Estate Market ttrends―Golden Gate Estates Units 79-93 0-――-7000 NA48-Golden Cate Estates Real Estate Market Snapshot Cl[clt Here to Su *d . rr Sa- Xddrha li!, Arfho pllc.rsaft vt. Sd. t,Ikr lte.5.l. Prk a * o,lrEn! Prtc. Aut. 3.5 PrLdS+Ft /lrg. Orrt o.r l-Lt oa Sald 13 O ib curtlt cdrDarbo.! g O '5 ctrrE! ',.r'.a o :z(hciraeirt-ilprtagon ;z2a,Y1 O tr.orc occno rr .\o r* prtc glt.sot O z.m tr* in s* o til prre 5fl,.61 (O t6 ,Ira llt St Pri.ra+R 195 O tOr irrca fr Crn m mlA Renne RE9日目P mI●hnl100o: NA48‐Oolden Cate E― p-7yp● ●DdIOm● Ro3 denLi V 3 V Sh"prlce Op輌 3● …… turirr.ir.ri:..aor.e.&-cq d'\ay dn,E sit ra *y 82016 bt @ Z;16 rlcEGGr..rrry. drFcc b ar nErrt dtq Averag€ Sal6 Pric€ !D a6 eD l2rE IID,II! Av€rag€ Days on Market of Sold lltr Cltb e6 t2tu S26●¨ 勲 ¨ 3130,¨ 314●.mがどが♂どが Number ol New Proporti€s Lrsted !D lrr lra l2nD がどが♂どがざ討♂ドがどどが♂がどが Av€rago Sale Price as 06 of Asking Price ItE lia t0 !2 ltr 1咄 1嗜 9●| From: Sent: To: Cc: Subject; Attachments: KellyJohn Tuesday, June 07, 20'16 2:55 PM BosiMichael BellowsRay; Faulknersue; LeonardRoosevelt RE: Questions on Land Trust Holdings and build ability 201606071343. pdf Mike, I am unfamiliar with anything that would have transpired with regards to a 1984 ordinance. lt is my understanding that most of the properties located within the Golden Gate Estates Subdivision were originally platted and sold in 5-acre tractt or parcels. Subdivision after these tracts were sold resulted in the creation of many smaller parcels, mostly 1.25 and 2.5 acre lots. ln october of 1974, most of the land in Golden Gate Estates was rezoned and a minimum, conforming, lot size of 2.25 acres was established. At the time the County was divided into w planning Districts, The coastal Area Planning District and the lmmokalee Planning District. Ordinance 82-2 provided the following definitions: Lot oI Recordi Alot of record is (1) a lot which is part of a subdivision recorded in the office of the clerk of the circuit court of collier County, or (2) a lot or parcel described by metes and bounds, the description of which has been so recorded on or before the effective date of this zoning ordinance, or (3) for which an agreement for deed was executed prior to october 14 1974 if within the coastal Area Planning District and January 5, 1982 if presently within or previously within the lmmokalee Area planning District prior to May 1, 1979. tot: A parcel of land of at least sufficient size to meet minimum requirements of the zoning district in which it is located for use, and area, and to provide such yards and other open spaces as are herein required. Non'conforming Lot of Record: Any lot or parcel which was recorded or for which an agreement for deed was executed prior to October 14, 1974, and which lot or parcel does not meet the minimum width and lot area requirements as a result of the passage of this Ordinance shall be considered as a legal non-conforming lot and shall be eligible for the issuance of a building permit provided all the other requirements of this ordinance and the Florida Statutes are met. The above definitions remain substantially the same within the current Land Development Code (LDC), Ordinance O4-41, as amended. The current minimum lot size for properties zoned Estates (E) is 2.25 acres and the current minimum lot width is 150 feet. To research the subiect property, further identified as Folio No.41713880000, a property cards were requested from the collier county Property Appraiser's Office for each of the properties within Tract 48. Golden Gate Estates Unit 93 is located within the former lmmokalee Planning District, therefore the target date for a legal nonconforming lot of record is January 5, 1982, as per ordinance 82-2. lt was determined that the East 75 feet of the East t5o feet was split off in 1973 which resulted in the subject property becoming known as the west 255 feet of Tr 48. The west 75 feet of the East 150 feet was split from the remaining parcel in 1981. The property cards for the subject property and that now known as the west 105 feet ofTr48 both state that they were split in 1985. Had the properties not been split the west 180 feet of Tract 48 would have been in compliance as a2.73 acre parcel; however, as it was split after January 5, 19g2, it is deemed to be an illegal nonconforming lot. Staff has however noted that collier county is listed by the property Appraise/s office as owning both the West 105 feet of Tr48 and the subject property; the LDC would allow for these properties to be combined in which case the combined property would satisfy both the current minimum lot size and width requirements. Please refer to the attached exhibit for further details. staff notes that the term "buildable" is not defined and is not used within the LDC and means only that it is possible, according to zonlng requirements, to build a house on the lot in question. There may be other concerns, such as environmental issues or lot confiSuration, that could restrict or prohibit the construction of a practical dwelling. With respect to the comparable properties. The properties identified as 4L77L44OOO2,4L34524OOO5 and 4L7L7120009 are each listed on a list of legal non-conforming Golden Gate Estates properties that is uses as a cursory search tool by Staff; Staff did not undertake a formal review into said properties. That identified as 4!7L7960007 is the adjoining parcel to a listed property and is therefore deemed to also be legal nonconforming; however, once again, a formal review was not undertaken. Again, a cursory review reveals each of the comparable properties to be legal nonconforming and are therefore eligible for the issuance of building permits should there be no other issues. 力″″時の Cτ みπ■じ/Zθ π物&漸 ″∫ 'ε ιあπ/zO"物衝商ο″ 卿 ′″%α π “ θπ "ι の字Z″πθ "ιC″0"″23,252.5″9 faを乏じ,252.“6J C―%α ″ヵ″π鷺昴Ooルで"π ′ι ,..14r 25g' -. ぽん軍 Tl滅夕″ι纂多為ぁ″_9,′脅竺巻 l-cnr-6 rrAr, rre f.n -rvx*-alr*.,a\ Dr*,.-t. - l,t-s ,v**t/s,e ry_ 4rT*^ T, Jru { /?lz_zt k -fue€latv" arr,-iJrJ'"":'- le&'' Mu - araRr"g uleer 1o'--?--/4{ tsD 緬チノl ″勤レンマゞ: GOLDEN GATE ESTATES UNIT N0 93‐A00LO「N I・ ATE =STATES 11「===こ =「 181:BtV・ ■__」"2 υN〔:T93 器 ― ― ‐― ― ―― に :hi●Pl●=中 _鋼訥1,`ノ Ⅲ。73つ~… 織嬌t酬 ∵霊ζ竹1鶏証缶.71●lnrⅢl子織::澤選ヨ壌鞣11亀妻幕灘手LI轟樺躙騨難選鋪憔鱗多 ″4l・・°晋id為 1'・ '爛忙・・iHl .1.ゲ ″=`画“Y-.S■ユl,1ヽ出:■.T=:「品11`鶴薔惜:: 塾撻警鞘 i誹 1鱗幣 i曇盤鼈FaccOrding tO GNID Our recOrds indicatcぬ atsubicct Tract 48 was a wh01e 5 acre the Wcst lo5 feet,which we did intO Par thatsamc time the East 75 fcet Ofthe Wcst 180 fcet which remained Parcc1 48 0 (41:l1381ooo:|:lll孵 :I」:11モ :ittt講 l』llecausethcyprObablyhadthe 鮮糧:'ど出調 :∬1::電鰐l∬背∬l:::鳳 t∬瀧3;矛翼鳳 1認路」∬tF糧誦;:1:LWI 騒よ盤lξ 瞭翼:滉置吼::『 dSheet, 請器期tel∬甘m撃胤 cじ tnd ll,8989(scc attached scrcen grab). `(Lot oF 8ee-a4 Lt pr'1 ι`ル ′ζ //ヶ //′/み73協鷹著 '1`絆 /( イるに ′ グ`ダインタ5 ′η′cθ4CV ノ′ `デ″ フにイグ `ノインこ 6'こごワダ′ グ″ ノク 1. t+ *- w a5' 06€ /50' (tq*> ごフダグ髭イグ l pza) ―|′ ″′ Statement of Limiting Conditions and Appraiset's Gertifi cation Df,FINITION Or MARKET YALUE: Tle mon probable price which a prop€rty should brirS in a compediive and open market uDder all conditions requisile lo a fai, sale, rhe buyer md s€ller, ech ac-ting prudfltly. howledgBbly md assurning rhe priceis not affected by undue stimulN lmplicit in this definitiotr isthe @Nulmadon of a ssle as of a speifieddare md lhe passitrgofrille Fom seller to buyermder condirion! whereby: (l)buyerand sllerar€ typically molivated;(2) both panies ee well infonned or well advised, ad each acting D what he consideE hjs own be$ inlerest; (l) a re$onable xme is allowed fo. exposure in lhe open marketi (4) payment ismadeinl.ms of cash in U S. dollars or in rems of fimncial arrangemeDrs comparable thereto; ud(5) theprice represents th€ normal consideBtion fo. rhe propeny sold unatre.red by special or crcative financingors.les concessions' granted by anyore sociated wirh the sale. 'Adjushents lo the cmparables mu$ be mad€ for special orcr@tive finDcire or sales coocesioB No adjustrnenc are necessary for llose cons $/hich are nomally paid by *llds asa r6uhoftEdition or law in a markei aeairhese msts are readily identifiable since the sellqpays these cosrs in virtuallyallsles trosactions Spelial or oeatiye finmcirg rdjustmenG can be mad€ lo the comparable properiy by compansons to findcingrems offqed by a rhird Party insnuronal lender rbar is nor already involved in the pro?erty n drsclron. Any adjustmenr should nor be elculated o! a mech i@l dolt{ fG dott& cosr of lhe financing or cm@sion but the dolle.mount ofany adjustmot. should app.oximare rhe mark€ls racrion ro rhe financjnE or concessioos based on the appraisa\ judghenl. STATEMIINT OF LIMITINC CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: Theappraisels ce.trficarion that appeaB in $e appraisal repon is sub.lecl lo the followi.e condilions I Theappraisd wiu nol be resporsible flor mane^ ofa leSalnalue rut affecr eirher the property berng appraisd or tne drle to i1. The appmiser a.ssunes thal the title is Sood and ma.keiable and, ther€fore, vrll nol rcnder any opmions about the rjrle. The prop€rty is appraised on the basis ofil being unde. responsible owf,ership 2. Tbe appEis€r has provid€d a skerch in fie appraisal report to show approxinate dimensions ofrhe mprovenenb and the sketch is included only to assisr lhe reader ofrhe reporr in visualizing rhe properry ed undeGtanding the apprajs€/s derermination of its size. 3 The appraiser has exmiDed dre available flood maps that ar€ povided by rhe Fed@l Emtrgency Managemenl Agocy (o. othtr data sources) and has noted in rhe appmisal repo( whether fie subj€.r site n l@led in an identif€d Speial ttood Hazud Area. Beause the appraiser rs nor s suReyor. h€ c she makes rc guamrees, express o. mptied, .egarding dtis delemimtim. 4 Tte appra'ser willnor give resrimony or appear in coun because he or she made an appra;al ofrhe property in question, ules specific amnSemsts io do so have bea made beforetidd 5 The appraiser has enimaled tle valueofth€ land in tlE cosr approach ar irs hidesr ard b€sr use and tne improvemenrs at then contribulory value. These separate valuations ol rhe land and improvemmts must not be u*d h conjunction with any other appmisl md ee invalid ifthey e so u!ed. 6 The appaise.has noted in the appraisalrepon any adv6e conditionsGuch as, needed repairs, depreciation, the pres€nce of hffidous waltes, toxic substances, erc.) obsened during lhe insp€ction ofthe subJecr property or rhar he oi she b€cMe aware of dEing lh€ normal r€search involv€d in performing rh€ appEisal Unless ol}leMise staled in the appraisal report, rI€ apprai*r has no kno*ledge ofany hidden or unapparen! conditions ofthe p.openy or adv€6€ envirotunenial conditions (including the presence of hazardous wastes,loxic subsrances, erc.) lhar woutd male the prop€ny mor€ or less yaluabte, and has rssumed &at rhere are no iuch conditions and males no guaranrees or warmnnes. express or implied, regarding the cordition ofrhe propeny The apprais€r will not be rGponsible for any such condiiio t$at do exist m for ey €ngineering or resting rlat mighr b€ required to discovervhether such condirions exist. Because rhe appeiseris nor an expsl in the field of mviro,otal hazards. the appGisal repon must nol b€ considetd as sn envnorunenhl asesmenr ofrhe property. 7 The appraistr obbired the ,nfomatiof,, esrimares, md opinions thal were expressed in lhe appraisat repon fiom souces lhat h€ c she considm to be rcliable and believes them to b€ rrue and cor6r The appraiser does nol dsume r6ponsibitiry for rhe accmcy ofsuch irems rhar were tumished by olhtr panies 8 The appmis€r wilrnor disclo.e rhe conienrs oflheappraisar rcpon exce as provided for in &e uoifo.m st dardr of Profesional Appraisal Pmcdce. 9 Tlrc aPpraier has b6ed his or her app.aisal repon and valurion conctusion for an appmisal lhal is subje€r to satisfactory completion, repairs, or alie.ations otr the assmprion that comgtetion ofthe improvemenrs wi be perfomed rn a worlsnal*e l0 tu appriise. mu"' provide his o. hs prior Minen consdl before dre rmder/cr,enr, specrfed rn e appraisai repon cm d*tr,bute rhe appmisar repon (incruding conclusions abour the propeiv varue, the appmisels idendry ed professionar d.ignations a,d referfl* ro anv professional appmisar orSanizatrons o. rhe 6m wirh which rhe appraiss is associared) tomvone other than rh€ bo'owe4 rhe m*gage or irs successo* ed assigls; the monga8e ios@r: con urrmrsi profcssional 3ppraisal orSdizations:ev srare or fedemlrv approved financial inslirution: or any depaimenr, aSency, o. instrumeotaliry oftne Unired Srares or oy slare or the Disnid ofColumbiaiexcepi lhat $€ lender,/client may d,strjbui;rhe;roperry descriptioi*crion ofrhe.eport onrv rodala colrecrion o. reporring s€rvic(s)wnhour, haviDs ro obrain the appmr-sels pnor writren consenaThe appmis.rs wnften cosenr and approvar mult arso be obrained before rhe app.isai can be c;veyed by anyone to rhe pubriclhrough advenising. public relarions, news, sates, ororherDedia. APPRAISER'S CERTIFICATION: The Appraiser certrfies and agrees that: l. I have raeuched the subjat markel trea and halve selected a minimm of three rrcent sales of properties most Similu and Proximate to the subject property for consideration in the sales comparison malysis and have made a dollu adjustmmt when appropriate to reflcd the meket reaction to those items ofsignificant variation. ifa significant item in a comparable property is superior to. or more favomble than, the subject property. I have made a negative adjustment to reduce the adjusted sales price of the comphnble md, ifa significm( ilem in a compuable property is inferior to. or less favorable than the subject property, I have made a positive adjustment to incrmse the adjusted sales price ofthe comparable. 2. I have taken into consideration the faclors that have an impact on value in my development ofthe estimate ofm{ket value in the aPpraisal repon. I have not knowingly withheld my significmt infomation from the appraisal report and I believe, to the best of my knowledge, that all statments and infomalion in the appmisal repon are true and corcct. 3. I stated in the appraisal report only my own pesonal, unbiased, and professional analysis, opinions, and conclusions, which; re subjct only to the contingenr md limiting conditions specified in this fom. 4. I have no present or prospective inlqest in the property that is the subject to this repon, and I have no presenr or prospectivepersonalintereslorbiaswithrespecttotheparticipantsinthetransaction. Ididnotbase,eitherpartiallyor completely, my malysis and./or the estimate ofmarket value in the appmisal report on the mce, color, religion, sex, handiup, familial status, or national origin ofeither the prospective owners or occupants ofthe subject property or ofthe present owners or Gcupmts ofthe properties in the vicinity ofthe subject property. 5 l have no presmt or contemplal-ed future interest in the subjfft property, md neither my cunent or futue employment nor my compensation for perfoming this appraisal is contingmt on the appraised value of fte property. 6. I was not required to repo( a predetemined value or direction in yalue that favos the cause ofthe client or ily related party, the amomt ofthe value estimate, the attainment ofa specific result, or the occmence ofa subsequent event in order to receive my compensation and For employment for performing the appraiel. I did not base the appraisal reporl on a requested minimum valuation, a specific valmtion, or the need to approve a specific mongage loan. 7. I perfomed this appraisal in confomity with the Unifom Standards of Professional Appraisal practice that were adopted md promulgated by the Appmisal Standards Board ofthe Appraisal Fomdation and that were in place as ofthe effective date of thisappraisal,withtheexceptionofthedepartureprovisionofthoseStandards,whichdoesnotapply. Iacknowledgethatm estimate ofa reasonable time for exposure in the open mrket is a condition in the definition of muket value and the estimate I developed is consistent with the marketing time noted in the neighborhood section ofthis report, unless I have otheruise stated in the rmonciliation wtion 8. I have penonally inspated the interior ud exterior uem of the subjat property md the exterior of all propenies listed as comparables in the appraiul report. I further ceniry ihat I have noted any appilent or knom advsse conditims in the subject improvements, on the subject site, or on any site within the immediate vicinity ofthe subject property ofwhich I am aware and have made adjus[nents for these adverse conditions in my malysis ofthe property yalue to the extent that I had market evidmce to supPort them. I have also commented about the effect ofthe adverse conditions on the markatability ofrhe subject property. 9. I personally prepaed all concluions md opinions about the ral estate that were set forth in the appraisal report. Ifl relied on significat professional assistance fiom any individml or individuls in the perfomance of the appmisal or rhe preparation of the appraisal report, I have named such individual(s) and disclosed the specific tasks perfomed by them in the reconciliation sectionofthisappraisalreport. Icenif thatanyindividualsonamedisqualifiedtoperfomthetasks. Ihavenotauthorized anyone to make a change to my item in the report; therefore, ifan unauthorized change is made to the appraisal report, I will rake no responsibility for it. SUPERVISORY APPRAISER'S Cf,RTII'ICATION: lf a supewisory appraiser signed the appraisal repon, he or she cenifies and agrees that: I duectly superuise the appraiser who prepared the appraisal report, have reviewed the appmisal report, agree with the statements md conclmions of the appraiser, agree to be bound by the appraise/s certifications nmbered 4 througl 7 above. md am taking full responsibility for the appraisal md the appraisal report. ADDRESS OF PROPERTY APPRATSEDT ^X/r l/o?1 ,?/e 3td. APPRAISER:SllPERV■Ю RY APPRAISER(only ifrequlred) Signature a4J盗 ″ン｀ Signatue Name ttL‐_rz「ノz鋼 ″吹ノ Name Date Signed: ?/l z ,/zot e Date Signed: State Cettfcaron″:_笙z≧二重墜率Z_______ s●te CertiicadOn性 or State Licflse #:or State License # State: Expiration Date of ctrtification or License'. / t//rb/z, Expiration Date of cenification or License: Srate: F/aoc%.. E oia D Oia Not Inspect property