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Home My WebLink Aboutbocc.res.092.2010- APPROVED B1( � ��so�u-r�oN �N�KI, 7�io�i�s � �',�D/ 5 �`�s-s � O�o2 ` o��I � FOR ASSESSORS AND COUNTY COMMISSIONERS USE ONLY . . (Section III or Section IV must be completed) Every petition for abatement or refund filed pursuant to section 39-10-114 shall be acted upon pursuant to the provisions of this section by the board of county commissioners or the assessor, as appropriate, within six months of the date of filing such petition, § 39-1-113(1.�, C.F�.S. Section Iil: Written Mutual Agreement of Assessor and Pel:ition�r ; (Only for abatements up to $1,000) The commissioners of County authorize the assessor by Resolution No. to review petitions for abatement or refund and to settle by wrifiten mutual agreement any such petition for abatement or refund in an amount of one �thousand dollars or less per tract, parcel, or lot of land or per schedule of personal property, in accordance with § 39-1=113(1.5), C.R.S. The assessor and petitioner mutually agree to the values and tax abatement/refund of: Tax Year Actual Assessed Tax Original Corrected Abate/Refund Tax Year Actual Assessed Tax TJ/� � � Note: The total tax amount does not include accrued interest, penalties, and fees associated with late and/or delinquent�tax•payments, if applicable. Please contact the county treasurer for full payment information. Petitioner's Signature Date Assessor's or Deputy Assessor's Signature Date section iv: Decision ofi fihe Couni:y Commissioners (Must be completed if Section 111 does not apply) r WHEREAS, The Couhty Commissioners of � rJCiN County, State of Colorado, at.a duly and lawfully called regular meeting held on �� /�,?�/�, at which meefiing there were present the following members: of said County and �ssessor County Commissioners have carefully consid the within petition, and are fully advised in relation thereto, NOW BE IT RESOLVED, That the Board agrees ot agreeJ with the recommendation of the assessor and fihe petition be (approved--approved in part- denied with an abatement/refund as follows: Year Assessed Value Taxes AbatelRefund Assessed � �l Chairperson of the� oard of Co I, 1 � Counfiy Clerk and Ex-officio Clerk of the Bo; in or the aforementioned county, do hereby certify that the above and foregoing record of the proceedings of the Board of County Commissioners. Taxes Abate/Refund � i1.11/\/�---- Commissioners' SI �( �/y ♦ � a'l"L J ��. of County Co ioners"°•�� ` ter�is truly co fro t � : 5��, * *� �I, IN WITNESS,I�IHEREOF, I h ve reunto set my hand and a�xed fihe seal of said County ��'•• � �,p.... . this ^ Py day of � , O / LoRP Mon Year Deputy C unty Clerk's Signature Note: Abatements greater than $1,000 per schedule, per year, must be submitted in duplicate to the Property Tax Administrator for review. Secfiion V: Action of the Property Tax Administrator (For all abatements greater than $1,000) The action of the Board of County Commissioners, relative to the within petition, is hereby ❑ Approved ❑ Approved in part $ ❑ Denied for the following reason(s): Secretary's Signature Properly Tax Administrator's Signature Date � PETIT90N F County: / FOR ABA.TEMENT OR REFUND O� TAXES Section I: f'etitioner, ple se complete Section I only. Date: � 1 � Month Day Year Date Received (Use Assessor's or Commissioners' Date Stamp) Pefiitioner's Name: � �o'j?�rS � •t- � ('� � � 1 � � '�.-� '� �O'U5� Petitioner's IVlailing Address: �$ 5'.IG� � � t��,� �z !`7�s�`' � Sl � l l or Town SCHEDULE OR PARCEL Nl7MBER(S) Ro r� sss State Zip Code �ECEIVED MAR 2 9 2010 �'idcin C� A�g�� 1'ROPERTY DRESS OR LEG L DESCRIPTION OF PROPERTY �$ �� c��t�.�� Petitioner states that the taxes assessed against fihe above property for the property fiax year o'��`�' are incorrecfi for the following reasons: (Briefl describe the circumstances surrounding the incorrect value or tax. Attach additional sheets if necessary.) �R �— f�� ,� JG /..��'� �,� �o� L- �o � � i- 1 � i �11� `�l �A,. S� CJ Ci � � �� l � �d' . l �e , S l� R�.c.-4-, �- Petifiioner's estimate of value: $��, �C7 � c� q Value Year Petitioner requests an abafiement or refund of the appropriate taxes. I declare, under penalty of perjury in the second degree, that this petition, together with any accompanying exhibits or statements, has been prepared or examined by me, and to the best of my knowledge, information and belief, is true, correct, and complete. � _- f �� Daytime Phone Number (�� 1��S - R�� Petitioner's Sic�nature • BY Agent's Signature* Daytime Phone Number ( ) *Letter of agency must be attached when petition is submitted by an ac�en�. If the board of counfiy comrnissioners, pursuanfi to section 39-10-174(1), or fihe property tax administrator, pursuant to section 39-2-116, denies the petition for refund or abatement of fiaxes in whole or in part, the petifiioner may appeal fio the board of assessment appeals pursuanfi to the provisions of section 39-2-725 within thirty days of fihe enfiry of any such decision, § 39-10-11�.5(1), C.R.S. Secfiion II: Original Coirected Abate/Refund Asses.sor's Recommendation (For Assessor's Use Only) Tax Year Actual Assessed Tax ❑ Assessor recommends approval as outlined above. No profiest was filed for fihe year: �� (If a protest was tiled, please attach a copy of the NOD.) � Assessor recommends denial fior�the following r�ason(s): s or '-AR No. y n�e no. SUMMARY APPRAISAL REPORT OF THE PROPERTY LOCATED AT 98 Aspen Village Road Aspen (mail), CO 81611 as of 11/OS/2006 for American National Bank 2624 Grand Avenue Glenwood Springs CO 81601 by Western Slope Appraisal Service, Inc. P.O. Box 1451 Basalt, CO 81621 �■� k Complete Appraisal Analysis - Summary Appraisal Report , Man�factured Home Appraisal Report Flle# 3588X to ovide the lendeddieM with en accurate, and ad uatel su rted, o Inion ol the marke[ value of Ihe su 'ecl ro e . . c�ry As en mail s��e Cp aP coaa g1611 OwnerotPUWicHecord BORONSKI Countypltkln 5ubdivision - Tax Year 2��$ R.E. Taxes S Z i4i.O2 MaoRelerencePifkin CenSUSTfatlPif�cin Property RigMs Appralsed X Fee Sim e Leasehold Olher (describa) Assipnment Type Purchase Transadion i{ Refinance Trensadion Other (describe) — LendedCllenl American National Bank nddress 2624 Grand Avenue Glenwood S rin s CO 81601 Is the subject properly currently oflered for sale oi has II been oflered tor aale in Ihe twelva momhs prlar to ihe eflective data oi lhe appraisal7 X Yes No Report data source(s) used, aflerinp price(s), and date(s). I�j/A Manutadured hames located in either a condominium or cooparatNe project reQuire Ihe apWaiser to insped fhe projecl and complele Ihe Projed Informatian seclion ol lhe Individual Condomintum Unil aisal Re rt or Ihe Individual Coo eretiva Interast A raisal He rt end al�ach it es an addendum to this re rl. I did did not analyze ihe conVact tor sale iw ihe suhject purchase Uansaclion. Explain the resulls of ihe analysis ol the eontrac� lor sale or why the analysis was not perlormed. N/A ConUad Pdc� N/A Date oi Cantract jQJ/� is ihe property setler Ihe owner of puMic record? Yes No DaW Source(s) N/A Is Ihere any financial assislance (loan charges, sala concessions, pift oi downpayment assislance, elc.) ta be paid 6y any parly on behall ol Ihe borrower? � Yes � No II Yes, report the total dollar amaunt and describe the ilems ta be pa�d: N/A 1 did n did not analyze Ihe manutacturer's invoice. Explain tha results ol Ihe analysis of the manulacturer's invoice or why ihe analysis was no� peAormed. �Ianufacture's invoice was unavailable. Relaller's Name (New Cons6uction) nkROWn Note: Race and the racial com osition of the nei hborhood are not a raisal tactors. ' Nelghborhood Charecleristics ManufacWred Housing Trends Manufactured Housing Presenl Land Use % Localion Urban }� Suburban Rural ProperlyValues Increasing }� Stable Daclirdng PPoCE AGE One�Unit $Q,Q � Buill-Up Over75% }� 25-75Y Under25% Demand/SU ly Shortage X InBalance WerSUpply $(000) (yrs) 2-4Unit ]�.Q � Growth fla 'd X Slable . Slow Markeling Time Under 3 m�hs X 3-6 m�hs Over 6 mths $']$ Low New Mulli-Family % Neighborhood Boundaries *** See Additional Comments *** - I1.OM High 100+ commerda� 15.0 � 3.OM+/-Pred. 2j+/- other 25.0 � NeighbarhoodDescription *** See Additional Comments *** � Market Conditions (including support lor the above condusions) *** See Additional Comments *** Dimensions No survey was provided for review Aiea 5 068 Square Feet snaPO Rectaneular uew Tvn Nbad/Mtns Spadlic Zoning Classflication MHP / PUD Zoning Desaiption Mobile Home Park / Planned Unit Develo ment Zoning Compllance X Legal Legal Nonwniorming (Grendfalhered Use) No Zoning Illegal (describe) Is the highesi and best use of the subJect properly as Improved (or as proposed per plans and speciflcations) �he present use? �' Yes No II No, describe Utitltles Publlc Other (descrlbe) Publlc Other (descrlbe) Ott-slte Improvements-Type Publlc Private Eleclricity X Waler X screec As halt 7� Gas X Sanitary Sewei X a�er None-T ical FEMA Special Flood Hazard Area Yes }{ No FEMA Flood Zone J{ FEMA Map # 08097C / 0067C FEMA Map Date O6/O4/H% � Ne the u�ilitles and on-s;ce Im rovemen�s typical for ihe markel area7 X Yes No. If No, descdba The sub'ect is considered com atible with ther ro erties in the sub'ect's nei hborhood. Is �he site size, ahape and topography generally coniorming lo and aaeptahle in the market erea7 }{ Yes No II No, expltin Is there adequate vehicular access to ihe subjed properly? X Yes No II No, describe A eazs ade uate. ' Is Ihe street �opedy maintained7 }{ Yes No If No, describe p eazs ade uate. Are U�ere any adverse site condi0ons or exlernal faclore (easements, enaoachmenls, environmental concGtions, land uses, eta)7 Yes }� No I� Yes, describa o adverse encroachments or easements were noted. No surve was rovided for review so all ublic utilit easements are assumed. The HUD Data Plate/Compliance Cerlificate is located on ihe Interior af �he subjed and contalns, amonp other Ihings, iha manufadurers name, Vade/model name, year manufadured and serlal number. The HUD Gerlifcatlon Label is located on the exteriw ol each sedion ot ihe home. � Is �he HUD DaW PlatelCompliance Gertiticata attached to tho dwelling7 Yas }( No If Yes, idenGly the locatian. If No, prodde the dala source(s) lor ihe HUD Data ' Plate/Compliance ced�r�ca intormanon. None noted. There a eazs to be newer wood sidin on im rovement. '�. Is a HUD Cert(fication Label attached lo the exlerior ol eaeh seclion o1 the dwellin ? X Yas No If No, provide the dala source(s) lar the HUD CeNfication Lahel #'s Manulaclurer's Name Mazlette Da the Wind, Root load, and The�mat Zones meet the �ssumed. jdie Mac Form 706 March 2005 radelModel C Data ol Manufadure 1981 inimum HUD requirements for lhe locatlon oi Ihe suqed praperly7 }{ Yes No If No, expiain Page 1 of 7 Fannie Mae Form 1004C March Western Slope Appraisal Service, Inc. , , Complete Appraisal Analysis - Summary Appraisal Report Mana�factured Home Appraisal Report Fiie# 3s8ax ' ' � :��:��. The pu e M this su sal r Is lo rovide ihe lender/clieM wiU� an accurate, and ade ua su tled, apinion ol the markel walua M Ihe subeG e. . �. ':€' P�o �y nddre�s 98 As en Villa e Road cry ps en mail state CO av coda 81611 !; Bortower$ORONSKI OwnerotPuNicRecord $ORONSHI �� Pitkin ` ii ��ea� oasc�aea� Lot 98 As en Villa e Subdivision ;'; Assessor'sParcel# ROt5R55 T�Year 2005 R.E.TaxesS 2.242.02 �enda��cnBnt American Na6onal Bank addresa 2624 Grand Avenue Glenwood S rin s C 81601 Is ihe subjed property artenlly oitered for sale or has ri been ollered for sale in lha iwelva monihs pria �o �he afleclive data ot �he appraisal? X Yes No � Report data sourca(s) used, offerinp price(s), and date(s). j�j/A Manufactured homes bcazed In eNher a condominfum or cooperalive projeG requlre the appraiser to inspad the projecl and complele Ihe Projed Infoimation seclion oi Ihe Individual Condominium Unit 'sal Re A or fhe Individual Coaperative Inta�est pralsal Re rt and atlach it as an addendum to this r A. I did dd not analyza Ihe contract lor sale far the su6jed purchase transactian. Expiafn the results ol the analysis d the contrac! far sale or why Ue analysis was not perlormed. N/A conua� Pdc� N/p Date ot Contract j�j//1� Is ihe properly setler the owner of pubGc record? Yes No DaW Source(s) N/f� Is lhere any finarxlal assislan� (loan charpes, sala concessions, gift a downpayment assistance, elc.) to be paid by arry party on behall ol Ihe borrower7 Yes No If Yes, report the total dollar emouM and describa the 0ams lo be paid: N/A I dd X�d not anaiyze Ihe manufaclurer's irrvoice. Explatn the resuils ot the analysfs of the manulacturer's fmoice or why Ihe anaysis was ntll peAormed. �Ianufacture's invoice was unavailable. ReWlefs Name (NeW ConsUUCNon) U(ILCROWn. Nota: Race and the reclal com ositlon of the nei hborhood are not a raisal tactors. - ,_..,.. .... .. .� ... ..;. . ,.. . .. . . . . . .. , ..:,. .. . Nelghborhood CharacteHslics '•i Manu(dGtured Housing Tcends ' ,.. Mapulactared Housing: :.Present Land Use °k Localion Urban X Suburban Rural PiopertyValues Increasing X Stable Declining PRICE AGE OnrUnfl 50.0 ti BuiIFUp Over75% 3( 2&75% Under25� Demand/SUpply Shortage X InBaiance OverSu ply $(000) ( rs) 2-4Unit 1�.� % GrowTh Rapid X Slable . Slow MaAceting Time Under 3 mths X 3•6 mlhs Over 6 mihs $�j Low NeW MuI1FFamily % Netqhborhood soundar�es *** See Additional Comments *** 11.OM High 100+ Commerdal 15.0 � 3.OM+/- Pred 25+/- oiher 25.0 % Neighborhood Descdptlon *** See Addidonal Comments *** ' Markel Condilions (ndudnp suppoR for ihe above con�lusional **'k CP.P. Additinnal Gmments *** Dimensions No SurveV Spedfic Zoning Clas�cation MHP Zoning Compliance X Legal Is Ihe hlghest and best use oi Ihe sub, Utllitles Publlc Other (des Eleclrici }{ Gas X FEMA Special Flood Hazard Area Is ihe Area as Improved (ar as pmpased per plans and spedlications) Ihe present use7 U Ye�� Public Other (descrlbe) OH-slte Waler }( Street Sanitary Sewer }( Alley �i Na FEMA Flood Zane }{ FEMAMapR Q$Q9�C/Q( al lor Ihe market area7 }{ Yes No. IINo,descnbe The i hborhood. ally conlorming lo snd acceptabie in the markel areaT nYes No R V�+ Typ Nbad/Mtns : Development � No il Na, descrbe ements-T e Pubtic Private ii� X •T ica] FEMA Map Date pb/04/R7 Tha HUD Data Plate/Complianca Certificate is located on ihe interior af the subjep and contains, among other thinps, the manufacturer's name, Vadelmodel name, yeai manuledured and serial numbat. The HUO CertificaQan Label Is located an Iha axledw of each seclion af ihe home. Is tha HUD Data PlatelComptlanca Cerlificate attached to ihe dwellinpl Yes X Na II Yes, idenlily ihe locaion. If No, pravide ihe dala sauce(s).la �he HUD Dala Plale/Complisnce ceren��a tn�ormeiion. None noted. There a ears to be newer wood sidin on im rovemen . Is a HUD Cer�Bra�ion La6el anached m the exlerior of earli secfion ot iha dweitlna? X Yes nNo If No. modda iha data source(sl lar �he HUO CeAification Labal #'� ManWacturers Name Mazlette Do the Wind, Rool Load, and Thermal �ssumed. jdie Mac Form 70B March 2005 TradelA4ode1 C Date ol Manufaclure 1981 minlmum HUD requirements for ihe locatlon o� Ihe subject praperty7 }.' Yes No If Na, expiafn Page 1 of 7 Fannie Mae Form 1004C March Western Slope Appraisal Service, Inc. ' 1 , Complete Appraisal Analysis - Summazy Appraisal Report � Manufactured Home Appraisal Report File# ssasx � � � �GENEFIALOE$CNPiION . . . �� FOUNDAl10N � �,.�EXTERIOfl�ESCWPTION -�-�.malerialdcopolllGn IMERIOH � ':malerlalslcanditl� �# of Units �{ One }� AddlGons Poured Concrete Concrele Runners Skitlln Wood Lattice/Av Floors C CdLeminate/A a or staiBS X t 2 Other X eiod� a�iar Other-alt description Ex[erior Walls Wood Sidin Av wa�s PanellD wall/A _' oes�90 �s�y�e� Ranch FuN Basemenl Partiai 8asemenl Roof Sudace As halt Membrane/Av Tri��i�n Plastic/Av x ot secuoos X� z s BasemeM Aiea sq. n. Gutters 8 Dawnspouts ver Han Av Bem flo« Tile/C A �� + C Buil A BasemeM Finish N p % 1MndowType Aluminum & Wood aseme 6ath 4tlainscal '�I; Typa }� �eL AtL &DetlEM Unit OuLside EntrylExil Sump Pump Storm SashllnsWated As umed/Av Car Sior None .}( Exisfin Proposed � Under ConsL Evidence oi Infeslalion Screens Yes/Av X Driveway q of Cars ] C� '? YearBUik 19H1 ENective e rs -Z Dam ess Setllemenl Doors $O]]OW DrivewaySudace fjS halt -:''i: Attic j� None Hea�ing }( FWA HWBB RadlaM AmeniOes WoodStove(s}4 Garage UolCars j.t/d� Dropswr stairs X O�her $$$ Fuel Gas Fi�eplaces!! Fenca X Carport golCars 1 Ca[ Fbor SaAlie Cooling CenlralAirCan�htianing X Pa6ofDeck Poroh A�lachad �{ DeWched Fnished Heated Individual }� Olher Swam Pool X Olher BuIR-in lancas j( ReMperatar X flanga/Wen i{ Dishwasher X Disposal X Microwave }{ WashedD r P Ofher (descrlbe) Washer D er �: Fldshed area ebove e eontains: ( Raoms Q Bedrooms 2,�j Bath(s) j Q%'] Squara Feet ol Grou Livirg Mea Above Gmde . ....: Describe eny additlons or madificatlons Idecks. rooms. remodelino. e�al ThP �„I,io�� f>or.,ra� � r.�.t:r:....et ...._�..e r,,...e �...:t. ..aa:.:,... Is ihe manulaclured home etteched to a permanent faundaGon system4 � X � Yes � No If No desaibe foundation system and the manner of altachmant Have ihe tawinp hkch, wheels, end a�des been removed7 }{ Yes No u No eXq��. None Noted Is �he manufactured home permanently conneeted lo a teptic tank or sewage system and other utiliUes7 }� Yes No It No explain Doas ihe dwelling have sutliden� gross livinp area and �oom dlmensions to be accepta6ie �o ihe market7 X Yes No If No explain Addi�ional features (special energy etlicient items norrreally ilems e�c.� None ' The appralser must rate the qualily of construction for ihe suhject unit based on objedive ulterta (such as N.AD.0. ManufacNred Housing Appreisal Guide�, Marshall & Swifl Residen�ial Cast Handbook�, or olher bflshed cosl service). The eppraiser must also report �he source used far thls qualiry of wnsWclion raQrg determination. �ualil Poor Fair }{ Averege Gaod Ezcellent Identily source of quality ratin8 Interior & Exterior Inspection Describe lhe candition W Ihe orooedv (indudino nnnAnd rPOa�m. da�ad�.ar�� .o��n,�,�. .am.,dor�„ e�.� mtie ....t,:e .......... ... ....e_....e ,..._.u.:.._ .....� __ deficienaes or adverse Does �he Provide adaquate IMamaUon lor the lendedclient to replicata the below cost figures Supporl for ihe opinion of sile value (summary of comparable land sales w olher rr ESTIMATED REPRODUCTIONOR X REPLACEMENTC0.STNEW Source ol cost data Marshall & SwiftlL.ocal Contractors ENective date ol cost OPINION OF SITE VALUE S 135 O section one 1 120 Sq. It @ S 75.00 S 84 0 Saction 7wo j�j/p sq. R@ 5 N/A S Section Three j�j/p Sq. ft@$ N/A S sectlon Faur N/A sq. R@ S N/A 5 Cosl Mulliplier (d applicabie): A1adlfled SubtoWl: cal Oepredation or Conditlon MocAlier: Obsdescance (not used fa N.0.DA.�: epreGation or State Locatlon MoclMer. on, and Setup (not used far N.A�A.): qher Deprede[ed Site Imprwements: ie ol SuhJecl Site (as suppoAed ahove): Indlated Value by Cosl Apprweh �oroar.h +M+# CaP A�lrlir;n. 4## or MH State: ol the ➢ Exleda Oimendona ot ihe Su6Jec1 Unit X N/A X N/A X N/A x N/A Total Gross IJving Area: Olher Dala IderdlNeatlan � dlon Info: EdiOOn n.to: N/A1'� N/A glon: N/A size: N/A tl. z White oa.� N/A Black SVS Economlc Life (HUD end VA Mac Form 708 March 2005 Page 2 of 7 Fannia Mae Form 1004C March 200� Westem Slope Appraisal Service, Inc. Q Complete Appraisal Analysis - Summary Appraisal Report Mana�factured Home Appraisal Report There are Q comparahle prope�les cuneMly oilered for sale In the subjecl neigh6arhood ranging in price irom $]$'].��Q Thereare ( com arade eales In �he su ed nei hborhood within the ast lwelve months ran in In sale rice Irom $ j2$ Q( FEATURE SUBJEC7 CAMPARABLE SALE # i COMPARABLE SALE # 2 address 98 Aspen Village Road Aspen Village Road 127 Aspen Village Road �s en Villa e s en Villa e s en Villa e r�o�m�ryms�b�e� ! ame Subdivision Same Subdivision SalePrice a ��REFI : ::�::`.s 183000::: . �:��a 202. Sale PrlcelCross LJv. lvea a N/A Ba� n• a 247.30 Sa• � "S 215.88 sq. n ManWacNred HorRe ;}( Yes No J� Yes No oata sa,roe�s� Broker/MLS/Count Records roker/MLS/Count Record :; vadroavon souroe�s� _..:;:.._...... ::: See Above... ee Above... VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-)S Adustment DESCRIPTION +(•)$ AAJustmi ...._._......._ ....... ...... . _.. _ ...................._.......... ... Sale or FnananB ! ORV8I1f10R31 onventional coo�s6io�5 ' Seller Points Seller Points oate ot saiertime ' 7 14/2006 Ciosed 11/04/2005 Cli Location As en As en -0- s en leaseFwid/FeeSimple ee Sim le Fee Sim le ee Sim le Site i06R SF/Avv 3.400 SF/inf +I5.0005_026 SF/Sim condiGon vera e vera �e -O-Aven e Above Grade Totai Bdrms. Baths Total Bdrtns. Baths Total Bdrms. Bath Aoom Coum 6 4 2.75 4 2 I.00 +1 500 5 3 1.0 Gross Llving Area 1 477 �a• �• 740 s. n. t27 638 938 sq. n. Basement 8 Finished None OTlO On0 Raoms Below Grade N/A /.A /A Porch/PatlNDeck Adjusted Sale Price ; ` Net Ad. 23.30 � af CamP��es ', ._......... �:'. Gross Adl� 24 94 %$ I }( did did not research Ihe sale or iransfer histary o� lhe subjecl pr Mv research I X 1 did I I did not �eveal anv oriw sales ar iransfe�s of N My research L I did � did not rev� oaia sourcels) Per MLS/Countti Rapon ihe results of the reseazch and ana ITEM DateofPdorSale/franster j�/i Price ol Prior Sale/fransler 2$. Data Saurce(s) EfleUive Date of Da�a Source(s) 11/( Malvsis of prior sale or iransie� Mis[orv of Summary af Sales Camparison Approach he sales comparison approach. Co �ear ago and they were consider �omments *** Indcaled Value by Sales Comparison Appri Indlcated Value 6y: Sales Compadsan I •r* eP,. e,�,�;.:,,.,�i �.,..,.,,,.�r� *** Flle# 3588X • �o S 198 ��0.�0 to S 365 000.00 COMPARABLE SALE il 3 Aspen Village Road No eems 4"L6Sti X+ S l3'L13 7. + 5 Ne� ndi. 11.46 � Nel Adj. O.lOq 225.638 Gross ndj. 11.46 � S 225.713 cros5 nai. 2.63's $ operty and comparable sales. II not, e�lain See Below... e sub�ecl property for the three years prior �o ihe efledive dale of ihis appraisal. s wmparable sales for �he prior year to lhe date ol sale ol ihe compara6le sale. histo ol ihe subjeIX properly and camparable sales (reporl �lional prior sales COMPARABLE SALE p 7 CWAPARABLE SALE # 2 COMPARAE income *** This apprelsal is made U"as Is,' U subed to completion per plans and specifcaUons on ihe basis ol a hypolhe�icai condition that �he improvemenls have bean completed, ❑ subject to lhe followinp repairs or alterations on lhe basis ol a hypotheGcal conditian Ihat ihe repairs or alterelions have been completed, or ❑ su6jecl ta the Idlowing required inspeclion based on the e#raordinary assumpEon �ha� the condilion or defaency does not require altera�ion or rePa�r. Aovraisal is made °8S 1S��. iee attached Statement of Limitin� Conditions and Certification of Value Based on e complete ulsual InapecOm ol the Inlerior end exteda areas ol the subJecl proparty, defined acopa ol work, statemenl ol asaumptlons end Iimlling condtlona, and appnlaer'a certification, my (our) opinlon of ihe marltel value, aa deNned, of �he real paperty that la ihe aub�ed ol ihis report le � S 2$� �� esol 11/�g/2��fi whlch Is ihe dale al Inspecllon and ihe eNective data of this appnlsal. �die Mac Form 706 March 2005 Page 3 of 7 Fannie Mae Form 1004C March 200 Western Slope Appraisal Service, Inc. , , Complete Appraisal Analysis - Summary Appraisal Report Mana�factured Home Appraisai Report �,�a# 3sasx �� ' ;:: Thereare 4 co able propeNes eurrent oHered fa sale in the subject nefghborhood in in price Irom$ ]$'] QQQ.QQ to $]9$ �QQ.QQ ' :i:; There are ( com arehle sales in �he su ed nei hborhood wi�hin ihe ast lweNe months ran in in sale dce Iran $ li ��.�0 lo s 365 000.00 FEANRE SUBJECT COMPARABLE SALE N 1 COMPARABLE SALE N 2 COMPARABLE SALE il 3 ;::::: �� 98 Aspen Village Road Aspen Village Road 127 Aspen Village Road 64 Aspen Village Road :_;; As e Villa e A en Villa e As en Villa e s en Villa e , ,: : Pradmily to Suaed -�,_,.. .......';i 8ID8 ubdivision S e Su division e Subdivi i ; s�ePa� a RE .�! ,..:: a 183 000'i :. ; s 202 500 ,::.:: ._ �.;,: s 255 00 ' se�e Pdce�crwa uv. nrea 5 N/A � 5 247.30 s. tt ;:::- .... ; S 21 S.BH sq fl = ;.�.,:::; S 238.32 sµ ft .i ; . � �. �:� .... . ..:.. .... ,; hlanufactured Home �� i� �� Fi;;; J�' Yw No }� Yes No X Yes No VALUE ADJUSTI Sale or Finandnp Concesslonc Sile Qualit ofConslruGfon vera e vera e vera C V8ffi E� aaua�nae 1981 1972 -0-1974 -0- 001 condiuon Avera e Avera e -O-Avera e -0- ood Above G�ade Totel 9drms. Beths To1al Bdrtns. Baths Total Bdrtns. Balhs Total Bdrms, Baths Room CouM 6 4 2.75 4 2 1.00 +I 500 5 3 1.00 +1 500 4 2 2.00 Gross Living Area 1 477 . tt. 740 sq. n. +27 638 938 sq. tl. +20 213 1 070 sq. ». -F. Basement&Finished nne Nnr,P .,..o wT..__ EKdent Ilems '°"'�„"°'� A+ s 4Lbsis �+ s Z3213 X+ 5 - e:, - .....__..__.__ .............:..... " s A�us�ed Sale Price ; Net Adj. 23.30 % Net �. 11.46 � Net Adj. 0.10: 4 �'.. �'.: . ol Ca araGies ,:. �, ::::..:::::::.:,d:! Gross Ad'. 24.94 % S 225 638 ��oss na. 1 i.a6 � a 225 7] 3�ass Ad�. 23.63 % S 255 2 I )( did Qd not research lhe sale or iransfer histary ol ihe subecl p1operty end compaiabie sales. If nol, expiain $0e BeIOW... � My rasea�ch }( did did rwt reveal any prior sales ar transfers of the subjed property lor the �hree years prior �o �he eHeclive dale ot ihls appraisal Data Source(s) Per MLS/Count Assessor. My research did X did not reveal any prior sales or translers ol �he comparable sales for lhe prlor year �o ihe date of sale ol lhe comparable sale oa�a sourca(s) Per MLS/Countv Assessor Heport tha resulls of the research and analysis W iha prior sale or Vansler hista ol ihe subject roperry and compareble saies report �tional prior sales on page 4j. REM SUBJECT COMPARABLE SALE p 1 COMPARABLE SALE M 2 COMPARABLE SALE p 3 oate o� a�tor sa�eirra�srer 10/26 2005 o sales in the las ear No sales in the last eaz o sales in the last ear Pdce of Priw Sale/franster 25 000 er Assessor/MLS . er Assessor/MLS . er Asses or/MLS . Data Source(s) EflectiveDateofDalaSource(s) 11/08/2006 II/08/2006 11/08/2006 11/08/2006 Analysia of priw sale or iransler hlsWry of the su6tecl orocertv ar�d combarehle caies Ar thP Hn,a �f;..�..a�r:.,.. H,e �,.l.:e ..............t r....va r,. ol5ales Co f COIClDB] 0 flRd tF nfc *�* Indleated Value by Sales Comparison Approach S 250.000 Ndfuled Vilue 6y: Salea Compadsan ApproachS 250.000 Cart IWproach S 221 $00 Income *** �PP Al�l�l�tl1/IAI i'l�HttTOnfc **� #** Tlds appraisal Is made U"as Is," U sub(ed to wmpletion per plans and speciilcations on ihe basis of a hypothe�icai condiUon that �he ImFamements have been completed, � subjed to tha lo�owing repaire or allerations on Ihe besia ol a hypolhelical condiGon Ihat Ihe repairs or alle2lions have been campleled, w❑ subjed lo Ihe folbwin required Inspedion based on the ezlreordinary assum Eon Ihat ihe condtion or defiden does not require altereGon or repair. A iaisal is mSde "as is": 'ee attached Statement f Limitin CondiGons and Certification of Value. Based on a complete vlsual Inspecflm ol Ihe Inlerior and aRerlw aresa a( ihe subJect proparty, dellned scope ot work, shtemeM of essumptlms end Iimltlng eondWona, and apprsiser's ceHfHcatfm, my (ourj opinion of the markel value, aa delined, of ihe reai property Ihat la �ha subject ol ihla repoh la . t 250 000 asof , which Is the date ol Ins etlon and tha etlectiva date al ihls a alsal. idie Mac Form 708 March 2005 Page 3 of 7 Fannia Mae Form 1004C March 200 Westem Slope Appraisal Service, Inc. f! 1 Flle No. 3588X Market Data Analysis for Fannie Mae 1004C (03I05) Westem Slope Appraisal Service, Inc. \ 1� � Borrowar w Owner State File No. 3588X • SCOPE OF THE APPRAISAL The purpose of the appraisal is to give an opinion on the Market Value of the Fee Simple interest in the subject property as defined below. The inte�nded use of the appraisal is to assist the lender in evaluating the subject property for a federally related financial transaction. The intended user of the report is the lender. The scope of the appraisal is to estimate the market value of the subject property by: (1) a physical inspection of the subject property; (2) an inspection of the subject neighborhood and analysis of regional characteristics; (3) identifying the appraisal problem; (4) investigation of pertinent data from available sources; (5) consideration and analysis of physical, governmental, social and economic factors to conclude the Highest and Best Use of the subject property; (6) extensive research of sold properties and current listings from the Multiple Listing Service (MLS); (7) analysis of the selected comparable sales and competitive listings including verification of the reported data and confirmation from a second data source where possible; (8) consideration and application of the applicable approached to value; (9) final reconciliation; (10) reporting a defined value. Definition of Market Value: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. NEIGHBORHOOD BOUNDAIZIES The subject is located approximately 9 miles northwest of downtown Aspen and boarders the Woody Creek and Snowmass areas. The subject is near the Colorado Highway 82, which is a major transportation corridor between I-70 and the ski resorts of Aspen, Snowmass, Buttermilk, and Aspen Highlands. The subject's neighborhood boundaries are considered to include all similar single family homes within a 15 mile radius of downtown Aspen including the competitive area of Snowmass. NEIGHBORHOOD DESCRIPTION The subject is situated approximately 9 miles northwest of downtown Aspen and is in close proximity to the Aspen_Mountain ski area, local restaurants, shopping, and other recreational amenities. Aspen is a renowned mountain town that lies in the heart of the Rockies, at the foot of the Elk Mountain Range. Aspen was discovered as a mining town, in the 1800's. Aspen grew quickly, on its way to producing 1/6 of the U.S.'s silver. In 1946 Aspen Skiing Corporation was formed. After hosting the World Alpine Ski Championships in 1950, Aspen became recognized as a world class ski area. Over the years, the neighboring ski resorts of Snowmass, Buttermilk, and Aspen Highlands were developed. Together they offer over 4,000 acres of skiable terrain, and they record over one million skiier visits annually, according to Colorado Ski Country USA. In addition to recreation, a variety of cultural institutions and organizations exist, such as the Aspen Institute, Aspen Center for Physics, Aspen center for Environmental Studies, the Rocky Mountain Institute, The Global Change Institute, and the Aspen Music Festival. These organizations host a multitude of conferences and events that bring together world renowned leaders and students of government, education, and business. The area is positively impacted by the local ski industry and the on-going cons[ruction activity that has been associated with the grow[h of the local economy. According to representatives from local Real Estate Companies, within the last three years the lower end sales within the neighborhood represent older mobile homes, while the higher end sales represent older modular homes. Based upon the conversations with these local Realtors, it was determined that the motives of the buyers with the lower end mobile home sales was to eventually remove the older existing structure and rebuild with either traditional frame built or modular homes. This trend is considered to continue. MARKET CONDITIONS The subject improvements are typical of the area and is close to schools, shopping and other typical suburban amenities. Recent sales in the subject's market segments have been mostly cash sales with some conventional financing. The subject's immediate neighborhood has been characterized by a limited listing inventory and relative short marketing times. This is attributed to its growing appeal as an affordable alternative to other bedroom communities further northwest from the employment centers of the Aspen/Snowmass ski areas or the increasingly popular and limited deed restricted housing. See FIRREA Addendum... COMMENTS ON DATA INDENTIFICATION See Attached Improvement Sketch: Cost data was obtained from the Marshall and Swift Residential Cost Handbook as well as information provided by local contractors. Replacement cost was used in the estimating the cost in creating a structure and other improvements having the same or equivalent utility, using current standards, materials and design, based,upon current prices for labor and materials. Entrepreneurial profit and labor were included within this cost data. No functional or external obsolescence was noted. Physical depreciation was considered not applicable due to the fact the subject was of new construction. The site value estimate for the subject property exceeds 30% of the [otal value of the property. High land to improvement ratios are considered typical for the area. In estimating the site value of the subject property, the extraction method and sales comparison approach were used. The subject property is considered desirable due to its close proximity from the Highway 82 corridor, downtown Aspen, and the resort towns of Aspen and Snowmass Village. The fact that Ihe subject's estimated site value exceeds 30% of the total value of the property was not considered to adversely impact the marketability of the subject property. SUMMARY OF SALES COMPARISON APPROACH All five comparables sold with financing considered typical to the market. Comparables #1 and #3 were situated Western Slope Appraisal Service, Inc. FlIe No. 3588X • � ,:. ,:: ,,,.:�—, � coaB SCOPE OF THE APPRAISAL The purpose of the appraisal is to give an opinion on the Market Value of the Fee Simple interest in the subject property as defined below. The inte�nded use of the appraisal is to assist the lender in evaluating the subject property for a federally related financial transaction. The intended user of the report is the lender. The scope of the appraisal is to estimate the market value of the subject property by: (1) a physical inspection of the subject property; (2) an inspection of the subject neighborhood and analysis of regional characteristics; (3) identifying the appraisal problem; (4) investigation of pertinent data from available sources; (5) consideration and analysis of physical, governmental, social and economic factors to conclude the Highest and Best Use of the subject property; (6) extensive research of sold properties and current listings from the Multiple Listing Service (MLS); (7) analysis of the selected comparable sales and competitive listings including verification of the reported data and confirmation from a second data source where possible; (8) consideration and application of the applicable approached to value; (9) final reconciliation; (10) reporting a defined value. Definition of Market Value: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. NEIGHBORHOOD BOU1�iDARIES The subject is located approximately 9 miles northwest of downtown Aspen and boarders the Woody Creek and Snowmass areas. The subject is near the Colorado Highway 82, which is a major transportation corridor between I-70 and the ski resorts of Aspen, Snowmass, Buttermilk, and Aspen Highlands. The subject's neighborhood boundaries are considered to include all similar single family homes within a 15 mile radius of downtown Aspen including the competitive area of Snowmass. NEIGHBORHOOD DESCRIP7'ION The subject is situated approximately 9 miles northwest of downtown Aspen and is in close proximity to the Aspen.Mountain ski area, local restaurants, shopping, and other recreational amenities: Aspen is a renowned moun[ain town that lies in the heart of the Rockies, at the foot of the Elk Mountain Range. Aspen was discovered as a mining town, in the 1800's. Aspen grew quickly, on its way to producing 1/6 of the U.S.'s silver. In 1946 Aspen Skiing Corporation was formed. After hosting the World Alpine Ski Championships in 1950, Aspen became recognized as a world class ski area. Over the years, the neighboring ski resorts of Snowmass, Buttermilk, and Aspen Highlands were developed. Together they offer over 4,000 acres of skiable terrain, and they record over one million skiier visits annually, according to Colorado Ski Country USA. In addition to recreation, a variety of cultural institutions and organizations exist, such as the Aspen Institute, Aspen Center for Physics, Aspen center for Environmental Studies, the Rocky Mountain Institute, The Global Change Institute, and the Aspen Music Festival. These organizations host a multitude of conferences and events that bring together world renowned leaders and students of governmen[, education, and business. The area is positively impacted by the local ski industry and the on-going construction activity that has been associated with the growth of the local economy. According [o representatives from local Real Estate Companies, within the last three years the lower end sales within the neighborhood represent older mobile homes, while the higher end sales represent older modular homes. Based upon the conversations with these local Realtors, it was determined that t6e motives of the buyers with the'lower end mobile home sales was to eventually remove the older existing structure and rebuild with either traditional frame built or modular homes. This trend is considered to continue. MARKET CONDITIONS The subject improvements are typical of the area and is close to schools, shopping and other typical suburban amenities. Recent sales in the subject's market segments have been mostly cash sales with some conventional financing. The subject's immediate neighborhood has been characterized by a limited listing inventory and relative short marketing times. This is attributed to its growing appeal as an affordable alternative to other bedroom communities further northwest from the employment centers of the Aspen/Snowmass ski areas or the increasingly popular and limited deed restricted housing. See FIRREA Addendum... CONIlVIENTS ON DATA INDENTIFICATION See Attached Improvement Sketch: Cost data was obtained from the Marshall and Swift Residential Cost Handbook as well as information provided by local contractors. Replacement cost was used in the estimating the cost in creating a structure and other improvements having the same or equivalent utility, using current standards, materials and design, based apon current prices for ]abor and materials. Entreprenburial profit and labor were included within this cost data. No functional or external obsolescence was noted. Physical depreciation was considered not applicable due to the fact the subject was of new construction. The site value estimate for the subject property exceeds 30% of the total value of the property. High land to improvement ratios are considered typical for the area. In estimating the site value of the subject property, the extraction method and sales comparison approach were used. The subject property is considered desirable due to its close proximity from the Highway 82 corridor, downtown Aspen, and the resort towns of Aspen and Snowmass Village. The fact that the subject's estimated site value exceeds 30% of the total value of the property was not considered to adversely impact the marketability of the subject property. SUMMARY OF SALE5 COMP'ARISON APPROACH All five comparables sold with financing considered typical to the market. Comparables #I and #3 were situated Western Slope Appraisal Service, Inc. " File No. Gvner qient on smaller sites than the subject property and they were adjusted accordingly for site size. Comparables #4 and #5 were located within the competitive Lazy Glen subdivision approximately 5 1/2 miles northwest from the subject, however both these sales backed up to and over looked the Roaring Fork River. View adjustments were considered necessary for their superior appeal to the market attributed to their desirable river views and fron[age. The adjustments to comparables #1 and #3 for site and comparables #4 and #5 for view were based upon the differences in the underlying land values between the subject and the comparables. The specific adjustments were determined by conversations with Realtors in the area and land sales analysis within the MLS. Comparables #3 and #5 were newer homes than the subject, while comparable #4 featured recent updating. They were all adjusted accordingly for age and condition. Comparables #1 and #2 were considered to exhibit a similar effective age and condition as the subject and adjustments for age and/or condition were considered unnecessary. The necessary adjustments to comparables #1 and #5 resulted in their net adjustmen[s exceeding the recommended FNMA guidelines. Similar consideration was given to each comparable in the final opinion of value. RECONCILIATION In estimating the subject's market value the Cost Approach and the Sales Comparison Approach were given similar considera[ion. In the final analysis, the Sales Comparison Approach was given more weight. The Cost Approach is an accurate methodology for estimating the value of a newly constructed home for many reasons including the availability of cost information and the lack of physical depreciation. The Cost Approach can be relied upon as a benchmark for analyzing the value of a home but the market approach is considered to be a more reliable indicator since it represents [he most likely sales price the property will bring in the open market. Uncertainties such as the time involved to construct a home similar to the subject property, the availability of a suitable site and the unknown costs of materials futures can cause the Cost Approach to indicate a significantly different number than the Sales Comparison Approach. For these reasons, the Sales Comparison Approach was given the most weight in the final estimate of value. The Income Approach is not applicable in owner occupied areas. COMMON ELEMENTS AND 1tECREATIONAL FACILITIES The subject property is within a designated planned unit development and there is a homeowners association that is currently and has been in control for over two years. However, there are no significant common areas that would impact the marketability of the subject property and no PUD addendum was considered necessary. No association documents were available for review. Western Slope Appraisal Service, Inc. � 1Z Form 953 Western Slope Appraisal Service, Inc. 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' � w{ �,.c. . _ ..�.. �' ilk�. ` � .. � ,� .�� .�� a �� : � � -... _ .-W'pm'�O' r .i.,r.-a� .. � .i��.. . .,��,� - �� w �� ..et0. a�� '4 � C �' �-�II�Cdl�ri�. k yn p � {1 j a}`4�'+�, � . ,t� 7T u„ n � 1i�f?,yA ��4� y,� �� l: E g_4,� ✓% t�. � �n t ,..�� it ` } r � � � r � ' ' k'% ' ^�r`� � �%� _ , ta- 6 �er" E `�Wt , � .. �` .q 'Cz i � )' � `.�-*� 4t :! -" . n.l . ,� .,. � .. ��., �Gr� ..�y � r�� 17�i�,�� '. or Owner Lenderor Fle No. State CQ Zip Code Westem Slope Appraisal Service, Inc. 98 ASPEN VILLAGE ROAD KTfCHEN 98 ASPEN VILLAGE ROAD LIVWG ROOM 98 ASPEN VILLAGE ROAD VIEW FROM PROPERTY Borrower a Owner File No. Code 98 ASPEN VILLAGE ROAD KITCHEN 98 ASPEN VILLAGE ROAD LIVING ROOM 98 ASPEN VILLAGE ROAD VIEW FROM PROPERTY i Western Slope Appraisal Service, Inc: IS Fde No. Coda COMPARABLE #1 3 Aspen Village Road Aspen Village Price $183,000 Price/SF 247.30 Date � 07/14/2006 Age 1972 Room Count 4-2-1.00 Living Area 740 Value Indication $225,638 COMPARABLE #2 127 Aspen Village Road Aspen Village Price $202,500 Price/SF 215.88 Date 11/04/2005 Age 1974 Room Count 5-3-1.00 Living Area 938 Value Indication $225,713 COMPARABLE #3 64 Aspen Village Road Aspen Village Price $255,000 Price/SF 238.32 Date 12/Ol/2005 Age 2001 Room Count 4-2-2.00 Living Area 1,070 Value Indication $255,263 Westem Slope Appraisal Service, Inc. '� Borrower a Owner Western Slope Appraisal Service, Inc. File No. Code COMPARABLE #4 25525 Highway 82, #18 Lazy Glen Price $260,000 Price/SF 226.48 Date 10/11/2006 Age 1974(Renv) Room Count 4-2-2.00 Living Area 1,148 Value Indicalion $238,088 COMPARABLE #5 25525 Highway 82,#71 Lazy Glen Frice $320,000 Price/SF 163.27 Date OS/09/2006 Age 2,002 Room Count 6-3-2.00 Living Area 1,960 Value Indication $248,387 COMPARABLE #6 Price $ Price/SF Date Age Room Count -- Living Area Value Indication $ Borrower a Uvne� Westem Slope Appraisal Service, Inc. FlieNa. COMPARABLE #4 25525 Highway 82,#18 Lazy Glen Price $260,000 Price/SF 226.48 Date 10/11/2006 Age 1974(Renv) Room Count 42-2.00 Living Area 1,148 Value Indicalion $238,088 COMPARABLE #5 25525 Highway 82,#71 Lazy Glen Price $320,000 Price/SF 163.27 Date OS/09/2006 Age 2,002 Room Count 6-3-2.00 Living Area 1,960 Value Indicalion $248,387 COMPARABLE #6 Price $ Price/SF Date Age Room Count -- Living Area. Value Indication $ �1 � ( Western Slope Appnisal Service, Inc. 1� __ . � Western Slope Appraisal Service, Inc. Western Slope Appraisal Service, Inc. 14 Western Slope Appnisal Service, Inc. F_T�..�i Complete Appraisal Analysis - Summary Appraisal Report Manufactured Home Appraisal Report Flle# �sRgx This report torm is designed to report an appraisal of a one-unit manufactured home; including a manufactured home in a planned unit development (PUD). A Manufactured home located in either a condominium or cooperative project requires the appraiser to inspect the project and complete the project information section oi the Individuai Condominium Unit Appraisal Report or the Individual Cooperative Interest Appraisal Report and attach it as an addendum to this report. This appraisal report is subject to the following scope of work, intended use, intended user, definition ot market value, statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intended use, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the complexity ot this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do not consGtute material aiterations to this appraisal report, such as those required by law or those related to the appraiser's continuing education or membership in an appraisal organization, are permitted. SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity ot this appraisal assignment and the reporting requirements of this appraisal report form, including the following definition ot market value, statement of assumptions and limiting conditions, and c�rtifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the interior and e�erior areas o( ihe subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales trom at least the street, (4) research, verify, and analyze data trom reliable public and/or private sources, and (5) report his or her analysis, opinions, and conclusions in this appraisal report. INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of this appraisal for a mortgage finance transaction. INTENDED USER: The intended user of this appraisal report is the lender/client. DEFINITION OF MARICET VALUE: The most probable price which a property should bring in a competitive and open market under ali conditions requisite to a fair sale, the buyer and seiler, each acling prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as ot a specified date and the passing of titie from selier to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms ot financial arrangements comparable thereto; and (5) the price represents the normal consideration tor the property sold unaffected by special or creative financing or sales concessions' granted by anyone associated with the sale. 'Adjustme�ts to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradiGon or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative tinancing adjustments can be made to the comparable property by comparisons to financing terms o8ered by a third party inslitutional lender that is not already involved In the property or transaction. Any adjustment should not be caiculated on a mechanical dollar for dollar cost of the tinancing or concession but the dollar amount oi any adjustment should approximate the markePs reaction lo the tinancing or concessions based on the appraiser's judgment. STATEMENT OF ASSUMPTIONS ANb LIMITING CONDITIONS: The appraiser's certification in this report is subject to the following assumptions and limiting conditions: 1. The appraiser wili not be responsible tor matters of a legal nature that affect either the property being appraised or the title to it, except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opinions about the title. 2. The appraiser has provided a sketch in this appraisal report to show approximate dimensions of the improvements. The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by ihe Federal Emergency Management Agency (or other data sources) and has noted In ihis appraisal report whether any portion oi the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in queslion, unless specific arrangements to do so have been made beforehand, or as otherwise required by law. 5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of hazardous wastes, toxic substances, etc.j observed during the inspection oi the subject property or that he or she became aware oi during the research (nvolved in performing this appraisal. Unless otherwise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deticiencies or adverse condiiions of the propeRy (such as, but not limited to, needed repairs, deterioraGon, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible tor any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the tield of environmental hazards, this appraisal report must not be considered as an environmental assessment of the property. 6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satis(actory compietion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will be performed in a professional manner. Western Slope Appraisal Service, Inc. Complete Appraisal Analysis - Summary Appraisal Report Manufactured Home Appraisai Report F��a# ssaax This report form is deslgned to report an appraisal of a one-unit manufactured home; including a manutactured home in a planned unit development (PUD). A Manufactured home located in either a condominium or cooperalive project requires the � appraiser to Inspect the project and complete the project information section oi the Individual Condominium Unit Appraisal Report or the Individual Caoperative Interest Appraisal Report and attach it as an addendum to this report. This apprafsal report is subject to the following scope of work, fntended use, intended user, definition of market value, statement of assumptions and Gmiting conditions, and certifications. Modifications, additions, or deletions to the intended use, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certitications are also not permitted. However, additional certifications that do not constitute material alterations to this appraisal repo�, such as those required by law or those related to the appraiser's continuing education or membership in an appraisal organization, are permitted. SCOPE OF WORK: The scope of work for this appraisal is deiined by the complexity of this appraisal assignment and the reporting requirements of thfs appraisal report form, including the tollow(ng definition of market value, statement o( assump6ons and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection af the interior and exlerior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4) research, verify, and analyze data trom reliabie public and/or private sources, and (5) report hfs or her analysis, opinions, and conclusions in this appraisal report. INTENDED USE: The intended use oi this appraisal report is for the lendedclient to evaluate the property that is the subject oi thls appraisal for a mortgage tinance transaction. INTENDED USER: The intended user of this appraisal report is the lender/client. DEFINITION OF MAR{<ET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acling prudentiy, knowledgeably and assuming the price is not aifected by undue stimulus. Implicit in this detinition is the consummation of a sale as of a specified date and the passing of title from seller to buyer wider conditions whereby: (1) buyer and seller are typically motivated; (2) 6oth parties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable 6me is allowed for exposure in the open market (4) paymeni is made in terms ot cash in U. S. doilars or in terms ot financial arrangements comparable therelo; and (5) the price represents the normal consideration for the properly sold. unaffected by special or creative financing or sales concessions' granted by anyone associated with the sale. 'Adjustments to the comparabies must be made tor special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by seilers as a result oi tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the compara6le property by comparisons to financing terms oHered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the tinancing or concession but the dollar amount of any adjustment should approximate the markets reaction to the iinancing or concessions based on the appraiser's judgment. STATEMENT OF ASSUMPTIONS AN� LIMITING CONDITIONS: The appraiser's certification in this report is subject to the foilowing assumptlons and limiting conditions 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it, except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the titie is good and marketable and will not render any opinions about the title. 2. The appraiser has provided a sketch in this appraisal reporl to show approximate dimensions of the improvements. The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted In this appraisal report whether any portion of the subject site is located in an fdentified Special Flood Hazard Area. Because the appraiser is not a surveyor, Ne or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand, or as otherwise required by law. 5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the research fnvolved in periorming ihis appraisal. Unless otherwise stated fn this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions ot the property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditlons, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any such condit(ons that do exist or for any engineering or testing that might be required to discover whether such conditions exist. 8ecause the appraiser is not an expert in the field ot environmental hazards, this appraisal report must not be considered as an environmental assessment of the praperty. 6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repalrs, or alterations on the assumption that the completion, repairs, or altarations of the subject property will be perforrned in a protessional manner. �oe Westem Slope Appraisal Service, Inc. zoos �1 Complete Appraisal Analysis - Summary Appraisal Report Mana�factured Home Appraisal Report Ffle# ssssx APPRAISER'S CERT'IFICATION: The Appraiser certifies and agrees that: 1. I have, at a minimum, developed and reported this appraisal in accordance wfih the scope of work requirements stated in this appraisai report. 2. I performed a complete visual inspection of the (nterior and exterior areas of the subject property. I reported the condition of ihe improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the livability, soundness, or sVuctural integriry of the property. 3. I pertormed this appraisal in accordance with ihe requirements of the Uniiorm Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place ai the time this appraisal reporl was prepared. 4. I developed my opinion of the market value of the real property that is the subjeci of this report based on the sales comparison approach to value. I also developed the cost approach to value as support for ihe sales comparison approach. I have adequate comparable market and cost data to develop reliable sales comparison and cost approaches for this appraisal assignment. I further certify that I considered the income approach to value but did not develop it, unless othervvise indicated in this report. 5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any oifering for sale of the subject property (n the twelve months prior to the effective daie of this appraisal, and the prior sales of the subject property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report. 6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report. 7. I selected and used comparable sales that are locationally, physically, and tunctionally the most similar to the subject propeRy. 8. I have not used comparabie sales that were the result of combining a land sale with the contract purchasa price of a home that has been built or will be built on the land. 9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales. 10. I verified, trom a disinterested source, all information in this report that was provided by parties who have a(inancial interest in the sale or financing of the subject property. 1 i. I have knowledge and experience in appraising ihis type of property in this market area. 12. I am aware oi, and have access to, the necessary and appropriate public and private data sources, such as multiple listing services, tax assessment records, public land records and other such data sources for the area in which the property is located. 13. I obtained the information, estimates, and opinions furnished by other parties and expressed In this appraisal report from reliable sources that I believe to be Vue arid correct. 14. I have taken into consideration the factors ihat have an impact on value with respect to the subjeci neighborhood, subject property, and lhe proximity of the subject property to adverse influences in the development of my opinion of market value. I have noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioratfon, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection oi the subject property or that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in my analysis of the property value, and have reported on the etfect of the condiGons on the value and marketability of the subject property. 15. I have not knowingly wilhheld any significant iniormation from this appraisal report and, to the besl of my knowledge, all statements and intormation in this appraisai report are true and correct. 16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject oniy to the assumptions and limiting conditions in this appraisal report. 17. I have no present or prospeciive interest in the property that is the subject of this report, and I have no present or prospective personal interest or bias with respect to the participanis in lhe transaction. I did not base, either partially or compietely, my analysis andlor opinion of market value in this appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or national origin of either the prospective owners or occupants of ihe subject property or of the present owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law. 18. My employment andlor compensation tur performing this appraisal ar any future or anticipated appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause ot any party, or the attainment of a specific result or occurrence of a specitic subsequent event (such as approval of a pending mortgag e loan application). 19. I personally prepared all conciusions and opinions about the real estate that were set forth in this appraisai report. If I relied on significant real property appraisal assistance from any individual or individuals in the performance ot this appraisal or the preparation of this appraisal report, I have named such individual(sj and disclosed the specific tasks performed in this appraisal repoR. I certiiy that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in this appraisal report; theretore, any change made to this appraisal is unauthorized and I will take no responsibility tor it. 20. I identitied the lendedclient in this appraisal report who is the individual, organization, or agent tor the organization that ordered and will receive ihis appraisal report. Freddie Mac Form 70B March 2005 Page 8 of�7 rannie mae romi ��... ��a�� .. Westem Slope Appraisal Service, Inc. �f 9 Complete Appraisal Analysis - Summary Appraisal Report Manufactured Home Appraisal Report File# 3sasx 21. The lendedclient may disclose or distribute this appraisal report to: the borrower; another lender at the request oi ihe borrower; the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; other secondary market participants; data collection or reporting services; professional appraisal organizations; any department, agency, or instrumentality of the United Statos; and any state, the District of Columbia, or other jurisdictions; without having to 6btain the appraiser's or supervlsory appraiser's (if applicable) consent. Such consent must be obtained before this appraisal report may be disciosed or distributed to any other paRy (including, but not limited to, the public through advertising, public relations, news, sales, or other media). 22. I am aware that any disclosure or distribution ot this appraisal report by me or the lendedclient may be subject to certain laws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or disiribution by me. 23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, government sponsored enterprises, and other secondaty market participants may rely on this appraisal report as part of any mortgage finance transaction that involves any one or more of these parties. 24. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission ot this appraisal report containing a copy or representation of my signature, the appraisal report shall be as eftective, enforceable and valid as If a paper versfon of this appraisal report were delivered containing my original hand written signature. 25. Any intentional or negligent misrepresentation(sj contained in this appraisal report may result in civil liability ancUor criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 1001, et seq., or similar state laws. SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that: 1. I directly supervised the appraiser tor this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 2. I accept tuil responsibility for the contents of this appraisai report including, but not limited to, the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 3. The appraiser identified in this appraisal report is either a sub-contractor or an employee of ihe supervisory appraiser (or the appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the appiicable state law. 4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisai Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 5. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable iederal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisai report containing a copy or representation of my signature, the appraisal report shall be as eBective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. APPRAISER Signature Name Daniel J. Corcoran Company Name Western Slope Aporaisal Service. Inc. CompanyAddressp,0. Box 1451 Basalt. CO 81621 Telephone Number 970-963-0800 Email Address Date of Signature and Reportj�jovember 8. 2006 Effective Date of Appraisal 11/08/2006 State Certification # or State License # AL,40011423 or Other State CO Expiration Date of Certification or License 12/31/06 SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature Name CompanyName Company Address Telephone Number Email Address Date of Signature State Certificatlon # or State License # State Expiration Date of CeRification or License SUBJECTPROPEflTY ADDRESS OF PROPERTY APPRAISED � Did not inspect subject property 18 Aspen Villa�e Road � Did inspect exterior of subject property trom street Aspen (maill. CO 81611 Date of Inspection APPRAISED VALUE OF SUBJECT PROPERTY $ 250.000 ❑ Did inspect interior and exterior of subject property Date of Inspection LENDER/CLIENT Name COMPARABLESALES Company Name American National Bank ❑ Did not inspect exterior of comparable sales from street Company Address 2624 Grand Avenue. Glenwood Springs CO 81601 ❑ Did inspect exterior of comparable sales from street Email Address Date of Inspeclion Freddie Mac Form 70B March 2005 Page 7 of 7 Fannie Mae Form 1004C March 2005 Western Slope Appraisal Service, Inc. Complete Appraisal Analysis - Summary Appraisal Report Manufactured Home Appraisal Report Fite# 3588X 21. The lenderlclient may disclose or distribute this appraisal report to: the borrower, another lender at the request at ihe borrower; the mortgagee or its successors and assigns; mortgaga insurers; government sponsored enterprises; other secondary market participants; data coliection or reporting services; protessional appraisal organizations; any deparlment, agency, or instrumentality of ihe United States; and any staie, the District of Columbia, or other jurisdictions; without having to obtain the appraiser's or supervisory appraiser's (if applicabie) consent. Such consent must be obtafned before this appraisal report may be disclosed or disVibuted to any other party (including, but not limited to, the public through advertising, public relations, news, sales, or olher med(a). 22. I am aware that any disclosure or distribution of this appraisal report by me or the lendedclient may be subject to certain laws and regulations. Furlher, I am also subject to the provisions of the Unitorm Standards of Protessional Appraisal Practice that pertaln to disclasure or distribution by me. 23. The borrower, another lender at the request of the borrower, the morlgagee or its successors and assigns, mortgage fnsurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any mortgage finance transaction that involves any one or more oi these parties. 24. If this appraisal report was transmitted as an "electronic record" containing my "elecVonic signature," as those terms are defined in applicable federal andlor state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation oi my signature, the apprafsal report shall be as eftective, enforceable and valid as if a paper verslon of this appraisal report were delivered containing my original hand written signature. 25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in cfvil liability andlor criminal penalties including, but not limited to, fine or imprisonment or both under the provisions oi Title 18, United States Code, Section 1001, et seq., or similar stato laws. SUPERVI50RY APPRAISER'S CERTIFICATION: The 5upervisory Appraiser cerlifies and agrees that: 1. I directly supervised the appraiser tor this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 2. I accept tull responsibility tor the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 3. The appraiser idenGiied in this appraisal report is either a sub-contractor or an empioyee of the supervisory appraiser (or the appralsal firm), is qualified to perform this appraisal, and is acceptabie to pertorm this appraisal under the applicable state law. 4. This appraisal report complies with the Uniform Standards of Protessional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in piace at the Gme this appraisal report was prepared 5. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimiie transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, entorceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signalure. APPRAISER Signature Name Daniel J Corcoran Company Name Western Slope Appraisal Service. Inc. CompanyAddressp,0. Box 1451 Basalt CO 81621 _ Telephone Number 970-963-0800 Email Address Date of Signature and Reportj�Tovember 8. 2006 Effective Da[e of Appraisal 11/08/2006 State Certification # or State License # pL40011423 or Other State CO ExpiraGon Date of Certffication or License 12/31/06 SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature Name Compa�y Name . Company Address Telephone Number Email Address Date of Signature State Certificatlon # or State License # State Expiration Date of Ceitification or Lfcense SUBJECT PROPERTY ADDRESS OF PROPERTY APPRAISED � Did not inspect subject property 98 Aspen Villaae Road � Did inspect exterior ot subject property from street Asoen (maill CO 81611 Date of Inspection APPRAISED VALUE OF SUBJECT PROPERTY $ 250.000 ❑ Did inspect interior and exterior of subject property Date of Inspection LENDER/CLIENT COMPARABLE SALES Name Company Name American Nafional Bank ❑ Did not inspect exterior of comparable saies from street Company Address 2624 Grand Avenue. Glenwood Sprin�s CO 81601 ❑ Did Inspect exterior of comparable sales from sVeel Email Address Date of Inspection Freddie Mac Form 70B March 2005 Page 7 of 7 Fannie Mae Form 1004C March 2005 Western Slope Appraisal Service, Inc. Z..� � T �'�� .i.�. . . . . ; _. . �. ...,.n.t'%".'�-; :::.:.�.-,.. .,,.. �. ,..::,. .- . - . ,•,.. .:' ' .�Y\ °•}k• � �:�'i:.i':_�:'�'.:1';,x.� cy�u:rd;.`.'u. �i.�t�.,": I . .'t �.: ..•..,.c�..''... ,vr�,�...a . .... ... .....�..... ''77� v�r., �Ao,';�w`:.y >' , . ... r :.E'uF..S� �...- . �......� 4.- �_. �.. . . ... . , ..r.,-,:, . �. . � ' . • ' ...�.. .... ,. .,_S.. . ......., ,.. ::., ��'�:'�.��,` ..�%....>. . ,.,..:,:._ .' , t ,.. . <' `•°, . . ,..: � �r ; ... . tc: . �.. ..: . . r � ..•... �. : . .. , ..�: • . . _:.:� .: � .. . ..x. h�. �y�':� • ` i � �r.....�r.. . .n,• ...-.-'.�. '?. ,. . • . . � �... u... . . . .. . .. .. .. ..... �..:..:. °• .�.Y�.:-'�.�w . . 1�. i. . .... .. .•.... .. ... . . . . . . ., .. .. . .. . . .. .. ' .: . � .. '.�,u':.••,�. . � :. `"^ �,�r �'. " � � '�' � .. .. .� ��' . . ... �.. . �... . . " �.��^.:::R.. .-� ��f��.. _ • _ � �. •n . .. . . .. �' _ � .. . . � . . , . . .. •.�. . ... • . � , r.�a.. +.M1.;�'',S . .. . . . ,.. . . �.....'. �:;� . . . . . . '. . ... .� ..:i •. n�' ... .. . . . ' . ' .. " � . {. '��'`�.•: ,, ' . . . . . . , " ... . . . , . . , t � . . . � . DaAlell.Cor�oran . . � � . Colorado Licensod Appmiser ' • #AI1F0011423 , � . WORK 2000- OwnerlOperator, Western Slope Appratsai Service, Inc, Present 'The valua6on.of propertie� within the market areas of Garficld, Eagle, and Pitkin Counties of Colorado. 1998-99 Fee Appraiser & Basalt Offico Manager, Steamboat AppratsaT Service The valuadon of pmperrties.within the market areas of Garfield, / Eagle, and Pitkin Coun6es of Colorado. 1496-98 Fee Appcaiser, S�eamboat Appraisal Service The valuation of proposed and existing residential propertiea withia � the Routt, Moffit, S�mmit, P,ag1e, Rio Blanco, C6at%e, ' I,arimer, Boulda, Park, Lake, Weld, Jacksoq Bagle, � � Garfield, and Piticiiu Counties of Colocado. EDUCATION 2004 Factory-Built Housing McKissock's Data System , � '2004 Developing & Growing aa Appraisal Practice . • McKissock's Data System 2�4 lnformation Technology & the Appraiser McKissock's Data System 20U4 Appraising for the Second�y Market . McKissock's Data Systcm . 2004 Conshucrion Details & Ttends McKissock's Data System � 2000/04 . Uniform Standards of Professionai Appraisal Pracdce , McRissock.'s Data 5ystem 1999 Certified Residen6al: Repozdng & Analyzing Residential Appraisals . Univeraity of Colorado at Boulder ' 1999 Small Residential Income Properties University of Colorado at Bouldor i997 Professional Standazds and Practice Real Estate Training Center of Colorado 1997 Registered Real Estate Appraiser Coutse Real Estate Ttaining Cente� of Colorado 1996 Real Estate Ethic� and Professional Practice . Colondo Mountain College 1996 Colorado Contracts and Law Colorado Mountain College 1996 Real Estate Pracdce and Law Colorado Mouatain College 1994 Bachelar of Scienco in Business Management � Saint Petex's College, New Jersey � Z4 ,., :. �y.�i9?r,i''iP'<,.'; i.i�r .. , �:p ..,- � �:'„4;i ` : . ,::� � o � � , . _ � .,-_.�.a,..,:r f:..:�L -.r.•-.;.:i,+°' — :.,tis'' :;�r,�y'r"'�`+`.'`4. :, . .: ..`. �� . ....-. �...; .. ::. . �'. ' . _ -4`; -; � .ti �. : .. :.r.. • -•�' �: ... , , -r:.'i �;; >1 . .. •.�.`�: �. ,..s.,. e: , .. . . . . , . . . .: , . : . . . ;,..;,;.. :., -:u::' ;.� : . ,:;::,�' . , . . .. .. : ..�. ' ; ' • �. _" '.. . Partial Client List: Chese Manhadan Vecira Bank : US Bank Mesa Nadonal Bank Community Banks of Colorado Alpine Bank Wells Fargo Ho� MortgageBank First Western Mortgage Services Bank of Amcrica GMAC Mortgage Corp. Washington Mutual Merrill Lynch � Homebuyers Mortgage Aspcn Mountain Mottgage ' Integrated Mortgagc Services Counhyvvide Home Loans Est�te Financial Services Resort Financial Services Colorado Federal Savings Bank • Clarion Mortgage , Bank of Colorado Roaring Fork Mortgago Group Mouatain Mortgage ,yS. `,�.w �.�.:'Sa,'a�;;q:i.c,: _ ' '.f!. :�.. :1�. :qr• �: z '.r, •: xr::. `:.;,� . � .. . . . . I .:9. ��:`.i.� :'' t. . . . . . . . �. ,�-_. �•-s..r�. .. . •:... .: •.i . .. , .:.: .... :r... . .-...:,. .. :.. . • �. .. . ' - . . . �?`�• . _ . ' .. � . � ... • ' . ' . Partial CGent List: Cheae Manhattan Vectra Bank : US Bank Mesa Nadona] Bank . Community Banks of Colorado Alpine Bank � Wells Fargo Home MortgageBank Ficst Western Mortgage Services Bank of Amarica GMAC Mortgage Corp, Washington Mutual Metrill I;ynch Homebuyers Mortgage Aspen Mountain Mortgage ' Integcated Mortgagc 3ervices Countrywide Home Loans Estate Financial Services Resort Financial Services Colorado Federal Savings Bank Clerion Mortgage . Bank of Colorado Roaring Fork Mortgaga Group Mountain Mortgage ' ZS �%>3 � ��,'. _ • - �.a�.: - :i.,- '`'.: ;r.r^".•r#.'s �4: ., ,. ...� ... ... . . .�r�. .;i`. "tt"Y. - ' - iy_.r��:: ;h�:�{,.,!';..•.:. ,:F...'�v{,` . .'�`.a .'; «.c" - - :.� : � . � , ��. . .: ... . .. ... . .:.:. `: ..., .. . �,..;,<� ,...,::�... . . . ,;,:.. , . ....,V , M , . I t � • .....� -. �,.�: .�.: " ,�i ,,..� i..ar�. . .•,;'•„�•.�. .: .�.,...�.k.. _r: ."'q�:� ."�A....�.,, ..: �; . • a+} e<.r.ct a�c.�.. �' F'' . 8.:• . ..... :...: ..... . � � . ......... ... 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D�pTNf NT 0 6 41 , 0 Y Aq . . �. ... • • . . .. > � • �. . . . •• ### #��. � •. •#�iF'. ###.' � LICENBED F�PPitAi�ER ' � . '#� ' # # ## # . �a� � • . ' . . . ,► ` ##- .� ,� # � ; � � �� i , + , � � iF •, , #�F • �F iF# #. �F . �#. i :'Thls la to cetkify that the pet'son.ati below hae . as sha � in . StlJ�'l�l�ol�d$�'or ih�:t�ndar �s) ��. througl� aQdb as pra�ide or by'tho of Co d 'Do ber .'fuat, �4�b' �: �� Auth by the �+d Estate AAptaise�s� V�ITIVESS by akv ., :� � � � hand and ofliciel � , vet, Golorado t4is .15 � ��y. DAPIIE� J GORGQRAN ' op Janua 44., . • ' ' . • ' • 1101� VILL' AOE RGIAD #tll.-2D • � ' ' . � PO 'BqX �4�51 . �� BA�ALT, Cq 81b21 • ' Progca�► Administrator �: � f � • . ,. �. . ' • • ' ' , • i . . • a . � i • , . � t . �• � ' �.i �1 .. � . � � � � (� Appraiser Recommendation for an Abatement Assessor Generated ❑ Taxpayer Generated �I To: Tom Isaac, Pitkin County Assessor From: � �{-e Date: � ��l �� Petitioner: Qjo�,roN•�; Schedule #: �54Sx Parcel #: Z{��- O�k- qp - CR� The appraiser has completed a review of the referenced property, as of this date, and hereby submits a recommendation as stated below: � Deny ❑ Approve as Submitted ❑ Abatement/Refund Different than requested Abatement for Year: Data collection period for ear #2: Assessment Rate: % Tax Area: Mill Lev : Actual Value this ear: New Value: Assessed Value Tax Amount Assessed Value Tax Amount Original value: $ '1,6 330 $ � 4� , �� Original value: $ $ Corrected value: $ $ N.d Corrected value: $ $ Refund: $ $ Refund: $ $ The b sis of this rec mmendation1 is: ��''^'e"r ��V�� p��"S°�'\ d�r ��`�� 1$, �`% � a� � ZS 0� bp 0.. �SS t55 av �(c,\� � ��"S �c� � � CC ��c,m� i�e,.r �-e o�,.t� � S 6,,�pp,� T 1�. � Wh.t�.. u.c��-D� yU li.(,� Ow�.. �t �a�r- (��1�r� �eS � 5�t. CSY�S �P II �"'SaJI VJ � � � s�S5CS5 QY 5 U ��2 . Chief Appraiser Approval: • Assessor Approval: �1 o e�, q �. '. n � < n � o � C A� z � � O � �� R7 � � �o I �o b A b9 O � � m C A n O G A � � � C zr < �, r� a �' c� r� <a C r�n r o� �� b9 O <a �� r oa � t�" � aa W �C � � zr c a� r� � �' � n� O � � ro m �, � � G C ; H N � � � :r � �z � � A O p ro e � F z� � a r� � c� � � 00 . A A O � � z � � c� r� � A O N � � z � r � � � � � N z e � A N �� 1q �'�Urryr.rrrrr �� .__. /' `G� ��,/�/ 0 ! NOTICE OF DETERMINATION ON PETITION FOR ABATEMENT OR REFUND OF TAXES BOARD OF COUNTY COMMISSIONERS PITKIN COUNTY, COLORADO Date: July 21, 2010 Petitioner: Thomas & Kristin Baronski 98 Aspen Village Aspen, Colorado 81611 Schedule No. R015855 Dear Petitioner(s): ' Pursuant to CRS 39-10-114, you have requested that the Board of County Commissioners (BOCC) consider your pet9tion for abatement or refund of taxes • At a meeting held on July 20, 2010, it was the decision of the BOCC to : � Approve abatement as requested � Approve a partial abatement � Deny the petition for abatement Assessor's valuation: BOCC amended valuation: a SEE ATTACHED $ SEE ATTACHED Further appeaf procedure: If the Board of County Commissioners (CRS 39-90-114(1)) or the state property tax administrator (CRS 39-2-116) denies the petition for refund or abatement of taxes in whole or in part, the petitioner may appeal to the Board of Assessment Appeals (1313 Sherman St, Room 315, Denver, CO 80203, 303-866-5880) pursuant to the provisions of CRS 39�2-125 (b) and (c) within 30 days from date of the BOCC decision: For further information regarding ttie Board of Assessment Appeals you can visit their website @http://www.dola.colorado.gov/baa. • Refund, if appticable: If an abatement petition was approved in full or in part, the assessor will adjust his records accordingly and the treasurer will process a refund if the taxes were previously paid. g�bocclboe�abatementdenialnotice2010.doc