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City Council Packet 04-23-2013 BOE
CITY OF PLYMOUTH BOARD OF EQUALIZATION RECONVENED AGENDA APRIL 23, 2013, 6:00 p.m. COUNCIL CHAMBERS 1. Call to Order. 2. Council Action on Recommendations 3. Adjourn. Page 1 rp)City of Plymouth AddingQuality to Life To: Local Board of Appeal and Equalization LOCAL BOARD OF APPEAL & Prepared by: Janene Hebert, City Assessor EQUALIZATION MEETING Item: 2013 Local Board of Appeal and Equalization Reconvene April 23, 2013 Page 2 2013 Market Value Appeals in Person Original Recommended Comments 1 Chandler and Stephanie McCoy 519,400 495,000 Mutual Agreement 320 Harbor Lane, Plymouth MN 2 James and Heidi Krocak 407,400 407,400 Staff Appraisal $418,100 14610 13th Place North, Plymouth MN No Change Appeals in Writing 3 Thomas Benny 333,300 328,600 Mutual Agreement 10725 51st Avenue, Plymouth MN 4 David and Beth Brown 793,000 720,000 Mutual Agreement 5605 Glacier Lane, Plymouth, MN 5 Paul and Paula Caryotakis 363,900 363,900 Owner Did Not Respond to 18615 29th Avenue, Plymouth MN No Change Email 6 Korneliy and Larisa Ureke 657,600 608,900 Mutual Agreement 2635 Nathan Lane, Plymouth MN 7 Richard and Jill Minn 185,900 185,900 Owner wasn't Available to 12420 18th Avenue, Plymouth MN No Change Provide Access Changes Between March 29 and April 9, 2013 8 Bass Lake Villas Preserve LLC 96,000 20,700 Mutual Agreement 9 Shane and Lindsay Lafave 357,500 314,000 Mutual Agreement 10 Douglas and Nancy McGuire 285,900 270,000 Mutual Agreement 11 Kathryn Hammerseng and 508,500 490,000 Mutual Agreement Maureen Kennedy 12 David and Linda Brinkman 333,600 315,000 Mutual Agreement 13 Dianna C and Brian Dawson 106,500 99,700 Mutual Agreement 14 Tim and Kelly Beckman 303,700 257,000 Mutual Agreement 15 Andreas S Thurneer 231,000 207,000 Mutual Agreement 16 Paul Dathe 239,500 225,600 Mutual Agreement 17 Thomas and Nancy Gallagher 718,700 695,000 Mutual Agreement 18 Buist and Cynthia Walker 389,700 360,000 Mutual Agreement Page 2 Each of the aforementioned appeals is to be voted on individually by the Local Board of Appeal and Equalization. The properties have been reviewed and the changes presented on the previous page are recommendations made by the appraisal staff and approved by the City Assessor. For 2013, any changes made less than ten days prior to the Local Board of Appeal and Equalization need to be brought to the Board for approval on an individual basis. The purpose of the change is to provide a uniform method through the state for adjusting values after the notification period. The reason for the individual vote is to allow for board members to excuse themselves on a vote that they may potentially have a conflict of interest on. The 2013 value notices generated approximately 250 calls, 20 walk-ins, and 16 emails. Of those contacts approximately two thirds were value related inquiries. The staff was able to resolve most of the issues over the telephone; however, inspections were required on 59 properties resulting in 29 value changes outside of the Board of Appeal and Equalization's actions. The Local Board ofAppeal and Equalization has the authority to accept the recommendations or to raise, lower, or sustain the value. However, the Board does not have the authority to make a change benefiting the property owner to someone who has not provided access to the property. The Hennepin County Board of Appeal and Equalization begins meeting on: June 17, 2013 All appointments must be scheduled no later than Wednesday, May 22, 2013, by calling the Hennepin County Taxpayer Services Office at: 612) 348-7050 Page 3 rp)City of Agenda Plymouth Number: Adding Quality to Llfe To: Local Board of Appeal and Equalization LOCAL BOARD OF APPEAL Et Prepared by: Janne Hebert, City Assessor EQUALIZATION MEETING Appeal: In Person April 23, 2013 Item: Chandler and Stephanie McCoy 33-118-22-41-0061 320 Harbor Lane, Plymouth MN 1. ACTION REQUESTED: Approve the reduction from $519,400 to $495,000 on parcel 33-118-22-41-0061. 2. BACKGROUND: 1 Chandler and Stephanie McCoy appeared before the Local Board ofAppeal and Equalization on April 9, 2013. They presented the attached information for review and consideration to reduce the 2013 market value from $519,400 to $495,000. Plymouth appraiser Mike VanderLinden met Chandler McCoy on April 17, 2013 at 320 Harbor Lane, Plymouth, Minnesota and performed an interior inspection of the property. The property was purchased for $460,000 on November, 2011. The transaction was a corporate sale, below market, and was not considered a good sale by the Department of Revenue standards. The condition of the property was not known at the time of the sale and it was purchased near the bottom of the residential real estate market. The subject property is a four level split built in 2004. Due to the availability of new construction in the upper $400,000 and lower $500,000 value range, the market value of older homes in this value range has not increased commensurate with other value ranges. Furthermore, as evidenced by new housing styles, four level splits and modified two stories are not being constructed. After the inspection, Mr. VanderLinden identified three comparable sales and adjusted them to the subject. After consideration to the style ofhome and level of finish, the value was reconciled to a range of $490,000 to $500,000. After reviewing the owner's appraisal, Mr. VanderLinden contacted Mr. McCoy and agrees with the appraisal provided. Mr. McCoy accepted the reduction in value from $519,400 to $495,000. Page 4 City of Plymouth Assessing Division 2013 Local Board of Appeal and Equalization Assessment Application 3400 Plymouth Blvd Plymouth, MN 55447 Phone: 763-509-5360 Fax: 763-509-5060 Email: assessing@ptymouthmn.gov Date Returned: Received via.- Date ia: Date Withdrawn: Withdrawn via: Dist Nbad Appraiser Home Number: 2,- `5416 - 76 9 Work Number: Cell Number: 70 ' 56I D Owners Name(s) -l r ' r 1)40' cy Fax Number: Address: 3ai:5 -1-`tot' Lx-ne Nbr-N-1 Zip Code: ftn,,A AAL -zZY V% Email: Property -ID: .3 lj E II`- Ob( JJ Purchase Date: Property Address: 3L-')D140J'Lov .kLx, - NtrPurchase Price: : YLO, G oo SSY Y 7 Was it listed for sale? Yeses No Was the property a foreclosure, short sale, purchased from a friend or relative, or a relocation sale? If yes, please 2013 Assessor's Estimated Market Value: i Str i L -/OO - Additions, renovations, or improvements since purchase: Cost of improvements since purchase: 1/t) NE Owner's opinion of Estimated Market Value as of January 2, 2013 What are the reasons or i 0 cx , ed OtZ Ck-)—.y t documentation supporting the owner's opinion of market value? Please attach supporting Signature of applicant Date Ll q 113 Page 5 Date: April 9, 2013 Agenda: To discuss the assessed value of our home. Property: 320 Harbor Lane North, Plymouth, MN 55447 Owners: Chandler & Stephanie McCoy 2013 City of Plymouth assessed value $519,400 2012 City of Plymouth assessed value $503,300 We believe that our house is assessed to high relative to our market area. We have attached documents to support our findings and for your consideration. We believe it is worth no more than the market value of $495,000 as shown in the attached appraisal. Here are the following reasons behind our conclusions: 1. A 1/8/13 appraisal by Orion Appraisals for $495,000 a. All the homes on this assessment were "arm length transactions" — meaning no short sells, foreclosures etc.. 2. A home at 14504 10"' Ave. North has been assessed at a lower amount than our home. The city has appraised this home at $477,500 for 2012 and $505,600. a. This home is less than half mile from our house as well as in the same school district. b. This home is larger 4200 sq. ft. (ours is 2750 total finished sq. ft.) c. It is newer, it was built 2010 (ours was built 2006) d. It has more upgrades i.e. more built ins, more granite, more upgraded appliances and a larger lot. e. This home should be assessed (in our opinion) for more than our home not less. 3. Part of the reason our house is valued so high is the increase last year of 10% that we believe was too high. a. It is our understanding that the 10% increase in our assessed value was to bring the value of ours to "market rate" because we bought it in a "Corporate sale" i. This is true but the house was on the market for at least 1 month and it was sold at what the market would allow at the time ... not below the market which is what the city contends. U. The 10% increase was made a year ago when the market was still stagnant and/or declining in value. Page 6 Please see the attached documents. Thank you for consideration. Page 7 Property Information Search by Property ID Result page --- Page 1 of 1 14A INr-o A) r P- CSLc.P'- #-Gvg1 Hennepin County, Minnesota Home Lcmm Property Information Search Result The Hennepin County Property 'rax web database is updated daily (Monday - Friday) at approximately 9:15 p.m. (CST) Search By Estimated 2013 Assessment (For Taxes Payable 2014) P120FF.Rl'yi1J Building* i° Property ID. 33-118-22-41-0061 519,400 Address: 320 HARBOR LA N a ...,:.,. Unit No.: Less Veterans Exclusion: 0 Municipality: PLYMOUTH Property ID: _ Owner. C J MCCOY A S 5 MCCOY 3311822410061 Value; Taxpayer Name / Address: CHANDLER J MCCOY STEPHANIE A MCCOY Search`_: Clear;_ 320 HARBOR i.ANE N PLYh10Ul'll NLN 55447 Subrecord No. 1 Improvement Amount: $0 Property Type: RESII}ENTIAL. Homestead Status. HOMESTEAD Exempt or Deferred: values Estimated W ud: 168,500 Building* 350,900 Machinery: 0 Totals: 519,400 Less Qualified 0 Improvement" Less Veterans Exclusion: 0 Less Homestead Market Value Exclusion: 0 Total Taxable Market 519,400 Value; Hennepin County is provfding this information as a public service. Tax related questions, taxinf06co.lien nepin.mn.US Need help Iocating a property on aur site? Check out our Search Tips Copyright 0-) 2009 - 2013 HenEtepin County, Minnesota Contact I Privacy/Security i Accessibility Page 8 http://wwwl6.co.hennepul.mn.us/pins/pidresult jsp?pid=3311822410061&assmt—1 4]1/2013 Property Information Search by Property ID Result page Hennepin County, Minnesota Home Property Information search Result The Hennepin County Property Tax web database is updated daily (Monday - Friday) at approximately 9:15 p.m. (CST) Search 8y, Parcel Data for Taxes Payable 2013 PR9A RnfxR Click Here for the 2013 State Copy to be used ivhert filing for the 2012 M -IFR State Refund c Print l7,1I I1I property ID: 33-115-22-41-0061 Address: 320 HARBOR EA N Municipality, PLYMOUTH School mist: 284 Construction year: 2004 Property ID: watershed: 3 Approx. parcel Size: IRREGULAR 331i82241006i Sever Dist: 02 Owner game: C l McCoy &. S S McCoy Taxpayer Naive CHANDLER 3 MCCOY 5eareb_. Clear Address: SiEFHANIE A MCCL)Y 320 HARBOR LANE N PLYMOUTH MN 55447 Sale Information Page 1 of 2 Sales prices are reporter) as listed on the Certificate of Real Estate Value and are not warranted to representarms -length transactions. Sale hate: Noveinber, 2010 Sale Price,- $400,000 Transaction Type: Tax Parcel Description The Following Is the County Auditor's description of this tax parcel. It n7ay not be the legal description on the most recent conveyance docu€Trent recordEna o=ership. Please refer to the legal description of this property on the public record whenpreparinglegaldocumentsforrecording Addition Nance: CARI.SON'rE:RRACE Lot: 001 Block: 001 First Line Metes & Bounds: Full Motes & Bounds: Note: To read full tax parcel description, click here. Abstract or Torrens: TORRENS Value and Tax summary for Taxes Payable 2013 Values Established by Assessor as of January 2, 2012 Estimated Market Value: $503,300 Taxable Market Value. $503,300 Total Improvement Amount: 550,000 Total Net Tax: $6,931.48 Total special Assessments: Solid waste Fee: Total Tax: $6,931.45 Property Information Detail for Taxes Payable 2013 Values Established by Assessor as of January 2, 2012 Values: Land Market $100,500 Building Market $342,800 http://wwwl6.co.hennepin.mn.us/pins/pidresultjsp?pidT3311822410061 4013 Property Information Search by Property ID Result page Machinery Market Total Market, $503,300 Qualifying Improvements Veterans Exclusion Homestead Market Value Exclusion classlfications: Property Typo RESIDENTIAL Homestead Status HUFIESTEAD Relative Homestead Agricultural Exempt Status Hennepin County is providing this informatipn as a public service. Tax related questlons: taxinfo@co.hennepin.mn.us Need help locating a property on our site? Check out our Search Tips Copyright U 2009 - 2013 Hennepin C011rlty, Minnesota Contact I Privacy/Security I Accessibility Page 2 of 2 Pa 10 http://wwwl 6.co.hennepin.mn.us/pins/pidresiLdt.jsp?pid=3311822410061 F/2013 Property Information Search by Property ID Result page Page 1 of 2 Hennepin Counter, Minnesota Howe 1F CARLSON TERRACE Property Information Search Result Smirch "_. Block: Parcel Data for Taxes Payable 2012 PRQP4RTYI13 Click Here for the 2012 State Copy to he used when filing for the 2011 M-1PR State Refund Note: To read full tax parcel description, click here. Print TORRENS yrhe data listed below reflects information From December 31st of the payable year referenced above. Any adjustments made after that date will NOT be reflected. Property 113: 33-118-22-41-0061 Address 320 HARBOR LA N Municipality, PLYMOUTH Property ID: School Dist: 204 Construction year: 2004 3311$22410061 Watershed; 3 Approx. Parcel Size: IRREGULAR Sewer Dist: 02 Search Clear. owner Name- C 3 McCOY & S S MCCOY Taxpayer Flame CHANDLER 3 MCCOY Address: STEPHANIE A MCCOY 320 HARBOR LANE N PLYMOUTH MN 55447 Sale Information Sales prices are reported as listed on the Certificate of Real Estate Value and are not warranted to represent arms -length transactions. Sale Date: November, 2010 Sale Price: $,%0,000 Transaction Type: Tax Parcel Description The following is the County Auditor's dwxrlption of this tax parcel. It may not be the legal description on the most recentconveyancedocumentrecordingownership. Please refer to the legal description of this property on the public record when preparing legal documents for recording Addition Name; CARLSON TERRACE Let: 001 Block: 001 First Line Metes & Sounds: Full Metes & Bounds; Note: To read full tax parcel description, click here. Abstract or Torrons: TORRENS Value and Tax Summary for Taxes Payable 2012 Values Established by Assessor as of January 2, 2011 Estimated Market Value: ;457,300 Taxable Market Vatue: $457,300 Total Improvement Amount: Total Net Tax: $6,112,38 Total Special Assessments: Solid Waste Fee: Total Tax: $6,112.38 Page 11 Property Information Detail for Taxes Payable 2012 Values Established by Assessor as of January 2, 2011 values; Land Market $160,500 Building Market $296.800 Machinery Market Total Market, $457,300 Qualifying Improvements http://wwwl6.co.hennepin.mn.us/pins/pidresult.jsp?pid=3311822410061&year-2012 4/7/2013 Page 12 Property Information Search by Street Address Result page Hennepin County, Minnesota S[hRGETiP9 SearCh By. HOUSE Or BUILDING 14504 STREET NAME: at least first 3 Characters) 101h Avenue UNIT # (€f applicable) Search'I Clear { 20 ? records per page Page 1 of 2 6/0 n (fh/V Cuyla Ppa2+ Aj Ovn t=s 1 q s7w 1 Ai PTPP4e6151q L Home Property Information Search Result The Hennepin County Property Tax web database is updated daily (Monday - Friday) at approximately 9t15 p.m. (CST) Parcel Data for Taxes Payable 2013 Click Here for the 2013 State Copy to be used when filing forthe 2012 M-1PR State Refund Print Property In: 33-118-22-11-0094 Address: 14504 10TH AVE N Municipality- PLYMOUTH School Dist: 284 Construction year, 2010 Watershed: 7 Approx. Parcel Size, S 120X200X124X231SewerDist: 01 Owner Name: S C GRAVEL & Sia GRAVEL Taxpayer Name STEPHEN C & SADIE A GRAVEL. Address, 14504 10T€ -I AVE N PLYMOUTH MN 55447 Sale Information bales prices are reported as listed on the Certificate of Real Estate Value and are not warranted to representarms -length transactions. Sale Date: October, 2017 Sate Price- X599,000 Transaction Type., Warrantv Deed Tax Parcel Description The following €$ tlha County Auditor`s description of this tax parte#. It may not be the I(Tai descriptior€ orl the most recentconveyancedocumentrecardinuownership- Please refer to the legal description of this property on the public recd€ -d v:€yenpreparinglegaldOCLImentSforrecording Addition Name, "GLEN GROVE ACRES FIRST SUBDIVISION HENNEPIN COUNTY, MINN.` Lot: 001 Block: 001 First Line Mertes & Bounds: INCLUDING ADJOINING 1/2 OF VACATED Full Metes & Bounds: Note: To read full tax parcel descriptlon, click here. Abstract nr Torrens, ABSTRACT Value and Tax Summary for Taxes Payable 2013 Values Established by Assessor as of January 2, 201.2 Estimated Market Value; $477,500 Taxable Market Value: .,477,500 Total Improvement Air€otint; $159,000 Total Net Tax: $6,523,14 Total Special Assessments: Solid Waste Fee: ntaTax; $6,523.14 li a Property Information Detail for Taxes Payable 2013 Values Established by Assessor as of January 2, 2012 Values: Land Market $95,000 Paghttp://wwwI 6.co.hennepiui.mn.us/pins/addryesult.jsp 4/77201 Property Information Search by Street Address Result page Building Market 382,500 Machinery Market Total Market: 477,500 Qualifying Improvements Veterans Exclusion Homestead Market Value Exclusion Classifications: Property Type RESIDENTIAL Homestead Status HOMESTEAD Relative Homestead Agricultural Exempt Status Hennepin County is providing this information a$ a public service. Tax related questions: tax! ntoOro.henuepin.mn.us Need help locating a property on our site? Check out our Search Tips Copyright Oc 2009 - 2013 Hennepin County, Minnesota Contact I P—a.-Vise—Ly I Ac_p5s=h:lity Page 2 of 2 http://wwwl 6.co,hennepin.mn.us/pins/adchTesult.jsp PWA13 Property Information Search by Property ID Result page Hennepin County, Minnesota Home ARM Property information Search Result The Hennepin *county Property Tax web database is updated daily (Monday - Friday) at approximately 9:3.5 p.m. (CST) Search Sy,. Estimated 2013 !Assessment (For Taxes Payable 2014) n nn>:I rr zo Building: 405,8p0 Machinery: Property ID- 33-118-22-11-0094 W.1,10 . -- ® Address: 14504 10TH AVE N Improvement: Unit No.: Less Veterans Exclusion: 0 Municipality: PLYMOUTH Property ZI1. 0 Total Taxable Market 3311822110094 Owner: S C GRAVEL & S A GRAVEL Taxpayer Name J Address: STEPHEN C & SADIE A GRAVEL 14504. 10TH AVE N Search .-Clear PLYMOUTH MN 55447 Subrecord No. 1 Improvement Amount: $0 Property Type: RESIDENTIAL Homestead Status: HOMESTEAD Exempt or Deferred: Values Estimated Land: 99,f300 Building: 405,8p0 Machinery: 0 Totals, 505,600 Less qualified Improvement: 0 Less Veterans Exclusion: 0 Less Homestead Market Value Exclusion; 0 Total Taxable Market Value: 505,600 Hennepin County Is providing this Information as a public service. Tax related questions; taxlnFoOO co.hennepin.mn.us Need help locating a property on our site? Check out our, Search Tips Copyright C 2009 - 707.3 Hennepin County, hiinnesuta Contact I Privacy/Security I Aco sslbility Page I of 1 P hitp://wwwl6.co.hennepin.mn.us/pals/pidresult.jsp?pid=3311822110094&assmt—I 4 7e/ 2053 Hennepin County GIS - Printable Map Page 1 of 1 Inte» t Property a, Ma urr v. 12] H Pt,_N c 1jT1i AvF_PI 1,2 I y 3 now 4 r r 't IOT AA N. { s4. TIi,1'JE tJ :R7u r..i r I.I. Parcel 33-118-22-11-0084ID: Owner A -T -B: Abstract 5 C Gravel & S A GravelName: Parcel 14504 10Th Ave N Address: Plymouth, MN 55447 Property Total: Payable: 2013) ResidentialType: Horne - Price: Homestead stead: Parcel 0.64 acres Area: 27,881 sq ft Map Scale: 1" - 800 ft. N Print Date: 4/7/2013 This map is a compilation of data from various sources and is furnished "AS IS' with no representation or warranty expressed or implied, including fitness of any particular purpose, merchantability, or the accuracy and completeness of the information shown. COPYRIGHT © HENNEPIN COUNTY 2013 Pink Cf-ez f http://gis.co.hennepin.nm.us/Propertylprintldcfault.aspx?C=463570.43722131144,4981614.... PW 21013 CAN s A -T -B: Abstract Market 477,500Total: Tax 6,523.14 Total: Payable: 2013) Sale 55,000Price: Sale 1012010 Date: Sale Vacant LandCode: Map Scale: 1" - 800 ft. N Print Date: 4/7/2013 This map is a compilation of data from various sources and is furnished "AS IS' with no representation or warranty expressed or implied, including fitness of any particular purpose, merchantability, or the accuracy and completeness of the information shown. COPYRIGHT © HENNEPIN COUNTY 2013 Pink Cf-ez f http://gis.co.hennepin.nm.us/Propertylprintldcfault.aspx?C=463570.43722131144,4981614.... 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Edina Really, Inc. c3•arelan3 edinareafy.com 763) 569-sss5 FREE Ask a Question First name' Last name* Email* Phone I am interested in 14504 10th Avenue N, Plymouth MN, 55447. Regvvedfield No spam. Complete privacy Pae 30 http://www.edinarealty.com/homes-for-sale/MN/Plymoutli/55447/14504-10th-Avenue-N-7$... 4/2013 14504 10th Avenue N, Plymouth, MN 55447 1 Listing Information 1 am interested in 14504 14th Avenue N Plymouth MN, 55447, Required field Nospam. Complete privacy Request ShOWiing Email us using the form below or call 952-928-5563 begin_of the_skype_highlighting erld_of_the_skype_highlighting 952-928-$563 FREE First name:" Last name:' Email:" Preferred showing date and time: Phone:* Anytime Notes Are you working with an Edina Realty agent?` r Yes Edina Realty agent's name C ' No, I'm not working with an r agent No. I'mworking with another company Required field No spam. Ever, 599,000 1450410thAvenue N Plymouth MN, 55447 Beds: 5 Baths: 2 Full/2Three-Qtr/1 Half MLS#: 4186925 Courtesy: Edina Realty, Inc. Information is deemed reliable but isnot guaranteed. Page 2 of 3 Take Action What's your Geta free homsest€mate.F home worth now?(Ipaaeslsellin !free-h ome-value estimate Preoualify for a loan(/pages/monoaeelFnance- your- home- in -minnesofa-wisconsin-north-dakota) Calculate your title costsUpaoes/title- comparrvledina-realty-title-in-minnesota-and- wisconsin) Get an insurance quote(lpageslhome- insurancelhome-insurance-coverage-in-minnesota wisconsin-north-dakota) Buy a home warranty(lpageslhome- warranty/edina-realty-home-warranty-programs) Relocate to the areaUpaoeslrelocation/home_- reloeation-ex erts-in-minnesota-wisconsin-npith- dakota t. Plymouth Real Estate Marc• intn:rn= iori ai-iaut Plymouth, IWIN 11%iftPlymowh) Vie:3 other propzrties in Plymouth, 14H holnas-fpr- raleiz;i-.Ipjv twuthi Nearby Communities Hamel (MN1Hamel) Medicine Lake (1MNrMedicine-Lake) Medina (!MN/Medina) New Hope (NN/New-Hope) Wayzata IMN11Na zata Homes forSale Nearb Back to Search (lListinalListing5earch aux) http://www.edinarealty.com/homes-for-sale/MN/Plymouth/55447/14504-10th-Avenue-N-78... PIPA13 Orion Appraisals, Inc. FROM: INVOICE Orion Appraisals, Inc. 2926 East Upper 55th Street Inver Grove Heights, MN 55076 TelephoneNumber: 651-636-1339 Fax Number: 651-636-2133 T0: Tradition Mortgage 6800 France Ave Edina, MN 55435 E -Mail: appraisals@traditionlic.com Telephone Number: (952) 252-4708 Fax Number: (952) 252-4709 AlternateNumber: INSiOICENUMBE#i 'i: - 121530 rg:.. DI1) ES InvoiceDate: 01106!2013 Due Date: REt eHENCE Internal Order #: 121530 LenderCase #: ClientFile M FHANA Case #: Main File # on form: 121530 OtherFile ## onform: Federal Tax ID: 42-1719925 Employer ID: Lender: Tradition Mortgage Client: Tradition Mortgage PurchaseNBorrower; Chandler & S McCoy Properly Address: 320 Harbor Ln N City: Plymouth County: Hennepin State: MN Zip: 55447LegalDescription: Lot 1 Block 1 Carlson Terrace trFEES``uKi NT Full Appraisal 325.00 ` SUBTOTAL 325.00 PAY NTS..,: Check#: Date: Description: Check#: Date: Description: Check#: Date: Description, SUBTOTAL TOTAL DUE $ 325.00 Farm NIV5D — °WinTOTAL^ appraisal soilware by a la mode, im. — 1-800-ALAMODE Page 32 APPRAISAL OF REAL PROPERTY LOCATED AT 320 Harbor Ln N Plymouth, MN 55447 Lot 1 Block 1 Carlson Terrace FOR Tradition Mortgage 6800 France Ave Edina, MN 55435 OPINION OF VALUE 495,000 AS OF 01/0712013 BY CoreyA. Schmidt Orion Appraisals, Inc. 2926 Upper 55th St E Inver Grove Heights, MN 55076 651)636-1339 corey@orionappralsals.com Form GAIV—'WrnTOTAL` appraisalsetlware bya la mode, Inc. —1-800-ALAMODE Page 33 Orion Appraisals, Inc. Main File No. 121530 Pa e # Uniform Residential Annraigal Rr3nnrt The purpose of this summa a ralsaf report is to provide the lenderldient with an accurate, and ado uately supported, opinion of the market value of the subject property. Property Address 320 Harbor Ln N ClPlymouth State MN Zip Code 55447BorrowerChandler & S McCoy Ownero1 Public Record Chandler & S MoCov Counly HennepinLegalDescriptionLot1Block1CarlsonTerrace Assessors Parcel # 33.118-22-41-0061 TaxYear 2012 R.E. Taxes $ 6,112NeighborhoodNameCarlsonTerraceMapReference104-E2 Census Tract 0266.09Occupant ® Owner Tenant Vacant Special Assessments $ 0 PUD HQA E 0 F1 per year er monthProwtvRibisAppraised ® Fee Simple Leasehold F1 Oilier Idescrim Assignment Type Purchase Transaction g Refinance Transaction Q Other dcscribeLenderlCBentTraditionMortgageAddress6800France Ave Edina MN 55435 Is the subject propeqy currentlyoffered for sale or has it been offered for saleIn the twelve months prior to the efleclive dale of this appraisal? Yes ® NoReportdatasourcesused, offering price(s). and dale(s). Northstar Multi le Listin Service 1 did did not analyze the contract forsale for the subject purchase transaction. Explain the results of the analysis of the contract forsale orwhy the analysis was notedormed. Contract Price $ Date of Contract Is the property seller the owner of public record? nYes nNo Data Source s Is there any financial assistance {loan charges, sale concessions, gIB or dawnpaymentassistance, etc.) to be paid by any party on behalf of the borrower? Yes NoIfYes, report the totaldollar ameunl and describe the Items to be paid. Note: Raceand the racialcomposition ottheneighborhood arenot appraisal factors. Net$hbnrhonaJC aracteistres = One Unrb[iousJnrends - T 0 e- llmt Holi5jnP essn Lapd;4lse Location Urban ®Suburban Rural Properly Values Increasing Stable Declining PRICE AGE One Unff 100% Buill-Up ® Over 75% 25-75% Under 25% 1 DemaodrSup Iy ® Shortage In Balance Over Supply $ ODD(yrs) 2-4 Unit % Growth Rapid ® Slable .4fing Time ® Undcr3 mlhs 3-6mths Over fimihs 10D Low 0 Multi•Fami % Neighborhood Boundaries CR 6 to the north 1-494 to the east, Highway 12 to the south, and Vicksbur Ln 96o High 98 Commercial % N to the west, 348 Pred. 32 011ier % Neighborhood Description The subject is located in Plymouth, a western suburb of the Twin Cities metro area. Main access to the subject is via 1-494, east of the subject. 20-25 minute commute to the CBD of Minneapolis. Average pro5dmity to most suburban amenities. Area en o s average appeal. Market Conditions(including support for the above conclusions Well maintained properties thatare competitively riced usually sell at or near asking rice within 3 months. Financfnq is readil available atattractive rates. Values in the area appear to have remained stable over the last year. UrnonSlons Irregular Area 17424 of Shape Irmo ular View B;Res;WoodsSpecificZoninClassificationRSF-1 Zonin9 Description Single F mily Detached 1ZohiftoCamliana ® Lega# Legal Nancordormin Grandfathered Uso No Zonin Illegal describe Is the highest and hes! use of subject proe as improved or as proposed per plans ands ecificalluns the present use? ® Yes No If No, describe The hi hest and best use of the subject is as improved, sin le family residential. Utilities Public 0ther(desodbej Public Other(describe) 0N-sitetmprovements-Type Public PrivateElectdci ® Water ® Sbeel As haft ® Gas Sanila Sewer ® Alley None FEMA Special Flood Hazard Area Yes ® No FEMA Flood Zane X FEMA Mlap # 27053C0327E FEMA Map Dale 09102!2004Aretheutilillesandoff-slte improvements YpIcal for the market area? 10 Yes No it No, describe Arethere any adverse site conditions orexternal factors easements, encroachments, environmental conditions, land uses, etc.)? Yes ®No ff Yes, descrlbe GeteraPDescn :horf .,.,; . .. ,.>-< . ,-FdTrndpt ti„ ,- Eli[enQrDescrtppg r.-._,,amata;rlaTs/epbtlitton interfdr ...._ binatgrialslebp tilonUnits ®One One withAccessory Unit ® Concrele SlabCrawl Space FoundationWalls Concrete/Good Floors Wood,Cr tlGoudofStories2FullBasementParllalBasommlExteriorWallsWoodShake/A%-Gd Walls Drywall/GoodTYPONOut. AR. FJ S•DelEnd Unil Basement Area 796 5 .ft. Hoof Surface As haltl5now Cover TrmYRnlsh WoodlGoodExisting Proposed Under Const. Basement Finish 0 % Gutters 8 Downs owls None Bath Floor Ceramic/GoodDesignStyle —Two8tory Outside Eniry/Exit LJ Sump Pump Window Type Double Hun !Good Bath Wainscot Ceramic/GoodYearBuilt2004Evidenceof Infusiatien Storm Sashlinsulated Combo/Good CarStora e NoneEffectiveAgers3 Dampness Settlement Screens YeslGood Driveway # of Cars 3AtticElNoneHeaOnFWA HWBB Radiant Amenities Woodslove s # 0 Ori— Surface AsphaltDropStair Stairs Other IFuel Natural Gas ® Fireplace(s) # 1 0 Fence None ® Garage # of Cars 3LJFloorN "cutfle Cculing N Central Air CondWoning M PaliolDcck 110 M Porch o n&Scrn Carport # of Cars 0Finished Healed Individual 11 1 Other Pool None other Nona Att. Del. ®8oik•in Appliances ® Refrigerator ® Range(Oven ® Dishwasher ® Dls esaf ® Microwave ® Washer/Dryer ® Other describe Hood Finfshed area above grade contains: 8 Rooms 4 Bedrooms 3.0 Baths 2,752 SquareFeet o1 Gross Living Area Above GradeAdditionalfeatures (special energy efficient items, etc.. Ht haffirionGy furnace and air conditioner, humid'dler, water softener radon system, security system, central sound lower level a rets window, ranite kitchen counters and island with snack bar,private master bathroom, vaulted ceilings. Describe the condition of the propo (includingneeded repairs, deteluralion, renovations, remodeling, etc.. C3•No updates in the Drier 15 ears -The subject was constructed in 2004 with no recent improvements. The subject is well maintained with minimal depreciation. There were no needed repairs at the time of ins ection. Are (here anyphysical deficiencies or advarse conditions [hot affect the livability, soundness, or structural integrity of the pro elf ? Yes ® No if Yes, describe Does The pr(lpeq goneral[y conform to the neighborhood functional Willy, s i% condition, use, construction, etc.)? ® Yes No If No, describe Froddie, mac Form /U March 2005 UAD Version 912011 Page 1 of 6 Fannie Mae Farm 1004 March 2005 Form 1004UAD—'WinTOTAL' appraisal software by a lamode, Inc. —1-80U-AL4MODE Page 34 Maki File No, 121530fPa e # Uniform Residential Anni-aNA RI?nnrt There are 1 com arable properties currently offered for sale in the sub-ect ruelghborhood ranging in prlGe from $ 670000 10 $ 670,000Thereare9comparablesalesInthesubjectnethborhoodwithinIhaasttwelvemonthsraninInsalericefrom $ 338,0 to $ 692,000FEATURESUBCECTCOMPARABLESALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3Address320HarborLnN905FernbrookLnN1441081hAveN1450410thAveNPimouth, MN 55447 PI mouth, MN 55447 Plymouth. MN 55447 Plymouth, MN 55447ProAmitoSubject0.40 miles N 0.32 miles N 0.45 miles NSalePrice $ 405 000 $ 473 900 M $ 599.000SalePrice/Gross Liv. Area $ s .ft $ 175.93 s R. _ ; ,. -_ $ 222,07 5 .ft. r $ 214.77 5 .tt $ f F =• Data Source s F- ` MLS 4090043;DDM 137 MLS 4087400; DOM 5 IX MLS 4186925;DOM 15verificationsourcesCountycountyCountVALUEADJUSTMENTSDESCRIPTIONDESCRIPTION +(-) $ Adjustment DESCRIPTIONAd-usiment DESCRIPTION + • $ AdjustmemSalesorFinancingArmi-th 0 ArmL1h 0 Arml-th 0Concessions =. FHA;5500 0 Conv;O 0 Conv;O 0Dateo! SalelTime'= r' s46112•c05l12 0 s`1211 1:00111 0 s11112;c09l12 0LocaltonN: Res; N'Res; N;Res• N; Res: Leasehold/Fee Simple Fee Sim le Fee Simple Fee Sim to Fee SimpleSite17424at28,750 sf 0 14,810 at 0 21,344 sf 0ViewB•ResmWoods B -Res -Pond 0 B•Res;WDDds B•Res-WoodsDesignsleTwoStoryTwoStoryTwoStoryTwoStoryQualityofConstructionQ3Q3Q3Q3ActualAge924 +11 000 2p +11 000 3 6,000ConditionC3C3C3C2 •30 000AboveGradeTotalIBdrms.j Baths Total 18dims. Baths Trial Bdrms. Baths Tdal IBdrms. I BathsRoomCount81413.0 8 4 2.1 +3 DOD 9 4 12.1 +3,000 8 1 4 13.1 -3.00GrossLivingArea2,752 sq.R. 2,302 s .ft. +18,000 2,134 sq.U. +24,72 2,789 sq.ft. 0Basement & Finished 796sfDsfin 1148sfOsfin 01D56stE191sfin-17,8201277sfl138sfwo -22,760RoomsBelowGrade1rribrl .Oba 1 o -6,000 1 rrl brl .Obaln -6,000FunctionalUtilityAverageAverageAveraAverageeHeatin /Coolin FWAICA FWAICA FWAICA FWAlCA Energy EBICient Items TvDical T Ical Typical TypicalGarage/Carport 3 Car Attached 2 Car Attached +5,000 3 Car Attached 3 Car AttachedPorch/Patio/Dock O n&ScrPorlP1 Deck +6 000 DecklPatto +5.00 Porch +4.000Fireplaces1Fireplace1Fireplace1Fireplace2Fireplaces -3,500 NeiAd' slmeat(Total) :,,. ;, est.::: + - $ 43 400 M + $ 19 9DD + $ -67,260AdjustedSaloPrice €r , -, Net Adj. 10.6% Net Adj. 4.2% Net Adj. 11.2 % Comambles _ ... _ Gross Adj. 10.6% $ 448,000 Gross Adj. 14.3% $ 493,8001Gross Ad'. 12,6%1$ 531,740didUdidnotresearchthesaleortransferhistoyofthesubjectpropertyandcomparablesales. It not, ex lain My research did ® did not reveal any prior sales or transfers ofthe subject property forthe three years prior to the otfeclive date of lifts appraisal. Data Sources Coun IMLS M research rid ® did not reveal any prior sales or transfers o1 the comparable sales far thevear Prior to the dateof sale ofthe comparable sale. Data Sources County/MLS Report the results of the research and analysis ofthe pior sale ortransfer histmy of the subject prupD and com arable sales re orl additional por sales on page 3). ITEM SUBJECT COMPARABLE SALE #1 COMPARABLE SALF #2 COMPARABLE SALE #3DateofPriorSalw7ransfer Price of Prior SalelTranster Data Sources Coun IMLS ---JLoyntytMLS ICountyiMLS Count IMLSEffectiveDateofDataSource501!0812013 01!0812013 10110812013 0110812013 Analysis of priorsaleor transfer hisloy ollthe subject property and comparable sales There have been no recorded sales or transfers of the subject in the last 36 months. There have been no sales or transfers of any comparables in the last 12 months. Summary of Sales Comparison Approach See attached addendum. Indicated Value by Sales Comparison Approach $ 495,000 Indicated Value by: SalesComparison A roach $ 495,000 CostApproach (ii developed) $ Income Approach (If developed) $ Market data approach ivenrima consideration since it most accurately reflects current economic conditions affecting real estate value. The cost approach and income approach are not appFcable. This appraisalis made ® 'as is', subject to complellon per plans and specifications on the hags of a hypothetical condition that the improvements have beencompleted, subject to the following repairs or a0sraliuns an the basis of a hypolhelical condition that the repairs or alterations have been completed, or subject tothefollowingrequiredinspectionbasedontheextraordinaryassumptionthattheconditionordeliciensydoesnotrequitealterationorrepair,, Subject appraised "as is". This summa appraisal report is intended to comply vdth USPAP uidelines. Based on a complete visual Inspection of the Interior and exterior areas of the subject property, defined scope of work statement of assumptions and limitingconditions, and appraiser's certification, my (our) opinion of the market value, as defined, of the real property that is the subject of this report is 495,000 as of 01107/2013 which is the date of inspection and the offeciive date of this appraisal. t-reaate mac norm ru march 2UD5 UAD Version 9/2011 Page 2 of 6 Fannie Mae Form 1004 March 2005 Form 1004UAD— WinTOTAL" appraisal software by a la mode, inc,—1-809•ALAMODE Page 3 5 MainFile e Uniform Residential Aanraisal Rlannrt .1— —1-1 The intended use of this app4sal by, an one other than the slated Intended user, or for any other use than the stated intended use, is prohibited, A oopy of this al2praisal that is received by the borrower or third party, does not mean that the borrower or third party is an Intended User as that term is defined in the URARform. This report is a summary appraisal report. This re ort has digital photos and signatures. This report is not a home Ins action. The appraiser has only performed a visual inspection of accessible areas. This appraisal can not be relied upon to disclose conditions and/or defects in the subject propemy, I have performed no services as an appraiser or in gny other capadtv, regarding the proDerty that is the sub'ect ofthis report within the three-year period immediately_preceding acceptance of this asst nment. This summary appraisal report is intended to complywith USPAP quidefineg, was completed in compliance with the A raiser Inde endence Requirements and the appraiser was not unduly influenced in the development of the report. Reasonable Exposure Time E osure time is ahua s presurned to precede the effective date of the appraisal. It is the estimated length of time the property would have been offered onthe market iter to the h otheticai sale at thea raised value on the effective date of the appraisal. It is a ratios active estimate based on an analysis of past events assuming a competitive and open market. This includes not only adequate, sufficient and reasonable time, but adequate, sufficient and reasonable effort. 11 is often ex ressed as a range and is based on the followin : 1. Statistical information about days an the market, most commonly obtainedfrom the local Multiple Listinn Sarvice. 21nformation gathered through sales verificalfon. 3. Interviews with market participants. Under current market conditions the reasonable exposure time for the subject property is approximatelythree to six months. Th7s is based on the ana es of current market trends in the general area and takes into account the size condition and price range of the subject propertv and surroundin area. 11 presupposes that the listed price would be at or near the appraised value. It also assumes aggressive professional marketing by reputable local real estate offices. a x ..,.., ,'. ... ........ .... Cij5T MIA -NOR e uiredb Provide ade ualeinformallonfor the tender/client to replicate the below cost figures and calculations. Support for the o inion of site value (summary at comparable land sales er other methods forestimalin site value ESTIMATED REPRODUCTION OR Lj REPLACEMENT COST NEW OPINION OF SITEVALUE ......................._-........................_.-__-. _$ Source of cost data DWELLING SQ -FL @ $ 4 Qualily, rating from cost service Effective date of cast data 5 .F1. @ $ =$ Commerds anCost Approach grass linin area calculations, de rechafton, etc. . =$ The cost approach is not appticable due to the age and depreciation of Gara e1Car ori S .Ft. @ $ _$ the subject. Total EsVmale of Cast -New =$ Less Physical Functional External De recialian Depreciated Cost of Im rovemenis_--_---_......................................... _$ As -is' Value of Site Improvements ........................................... _$ Estimated Remaining Economic We HUD and VA on Years INDICATED VALUE BY COST APPROACH ............. ........... ....._______-. =5 Y -.. 3NGOlVI9 P t5ACH70VaL,gtregulredih Fandld7Nae , ..,- Estimated MoniM Market hent $ X Gross Rent Multiplier = $ Indlcaled Value by IncomeApproach Suffmiary of Income Approach(including su art formarketrent and GRM lot TDP11lAs (itffppin able r Is the deuelo edbuilder in central of the Homeowners' Assaclation (HOA)? (:]Yes No UNIIYPCIGElDelached Attached Provide thefollowing inforrnafhon tar PUDs ONLY Ifthe devalo erlhuilder is in control ofthe HOA and the subject pryerty, Is an atlached dwellhg unit. Le al Nana of Proact Total number of phases ToWnumber o1 units Total number of units sold Total number of units rented Total number of units for sale Data source(s) Was the project created by the conversion ofexislingbuildings Intoa PUD? Yes No If Yes, dale of conversion. Does the projed contain any multi-dwelin uritis? Yes Lj No Data Source Are the units, common elements, and recreation facilities compleie? Yes No If No, describe thestatus of com talion. Are the common elewrils leased to of by the Homeowners' Associathon? EJ Yes No 11Yes, describe the rentalterms and o tions. Describe common elements and recreational facilities, FreddieMac Form 70 March 2005 UAU Version 812011 Page 3 of 6 Fannie Mae Form 1004 March 2005 Farm 1004UAD—'WInTOTAL' appraisal sofhvare by a la mode, [no. —1-$00-ALAMODE Page 36 Main File No. 12153{11 P # uniform Residential Appraisal Report File# 121530 This report form is designed to report an appraisal of a one -unit property or a one -unit property with an accessary unit; including a unit in a planned unit development (PUD). This report form is not designed to report an appraisal of amanufacturedhomeoraunitinacondominiumorcooperativeproject. This appraisal report is subject to the following scope of work, intended use, intended user, definition of 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 mayexpandthescopeofworktoincludeanyadditionalresearchoranalysisnecessarybasedonthecomplexityofthisappraisalassignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations 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 of this appraisal assignment and the reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at aminimum: (1} perform a complete visualinspectionoftheinteriorandexteriorareasofthesubjectproperty, (2) inspect the neighborhood, (3) inspect each of thecomparablesalesfromatleastthestreet, (4) research, verify, and analyze data from 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 thesubjectofthisappraisalforamortgagefinancetransaction. INTENDED USER: The intended user of this appraisal report is the lender/client. 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 assumingthepriceisnotaffectedbyunduestimulus. Implicit in this definition is the consummation of a sale as of a specified date andthepassingoftitlefromsellertobuyerunderconditionswhereby: (f) 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) areasonabletineisallowedforexposureintheopenmarket; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property soldunaffectedbyspecialorcreativefinancingorsalesconcessions* granted by anyone associated with the sale. Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those casts which are normally paid by sellers as a result of 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 financingadjustmentscanbemadetothecomparablepropertybycomparisonstofinancingtermsofferedbyathirdpartyinstitutionallenderthatisnotalreadyinvolvedinthepropertyortransaction. Any adjustment should not be calculated on a mechanicaldollarfordollarcostofthefinancingorconcessionbutthedollaramountofanyadjustmentshouldapproximatethemarket'sreactiontothefinancingorconcessionsbasedontheappraiser's judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report Is subject to the following assumptions 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 titletoit, 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 the approximate dimensions of the improvements. The sketch Is included only to assist the reader in visualizing the property and understanding the appraiser's determinationofitssize. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agencyorotherdatasources) and has noted in this appraisal report whether any portion of 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 orimplied, 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 orshebecameawareofduringtheresearchinvolvedinperformingtheappraisal. Unless otherwise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, 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 for any suchconditionsthatdoexistorforanyengineeringortestingthatmightberequiredtodiscoverwhethersuchconditionsexist. Because the appraiser is not an expert in the field 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 satisfactory completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property willbeperformedinaprofessionalmanner. Freddie Mac Farm 70 March 2005 UAD Version 9/2ul1 Page 4 of 6 Fannie Mae Form 1004 March 2005 form1004UAD — °WaTOTAL` appraisal software lay a la made, inc. — 1-800-ALAMODE Page 37 uniform Residential Appraisal Report File# 121530 APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: 1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated inthisappraisalreport. 2. 1 performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the conditionoftheimprovementsinfactual, specific terms. I identified and reported the physical deficiencies that could affect thelivability, soundness, or structural integrity of the property. 3. 1 performed this appraisal in accordance with the requirements of the Uniform Standards of Professional AppraisalPracticethatwereadoptedandpromulgatedbytheAppraisalStandardsBoardofTheAppraisalFoundationandthatwere inplaceatthetimethisappraisalreportwasprepared. 4. 1 developed my opinion of the market value of the real property that is the subject of this report based on the salescomparisonapproachtovalue. I have adequate comparable market data to develop a reliable sales comparison approachforthisappraisalassignment. I further certify that I considered the cost and income approaches to value but did not developthem, unless otherwise indicated in this report. 5. 1 researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering forsaleofthesubjectpropertyinthetwelvemonthspriortotheeffectivedateofthisappraisal, and the prior sales of the subjectpropertyforaminimumofthreeyearspriortotheeffectivedateofthisappraisal, unless otherwise indicated in this report. 6. 1 researched, verified, analyzed, and reported an the prior sales of the comparable sales for a minimum of one year priortothedateofsaleofthecomparablesale, unless otherwise indicated in this report. 7. 1 selected and used comparable sales that are Iocationally, physically, and functionally the most similar to the subject property. S. 1 have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home thathasbeenbuiltorwillbebuiltontheland. 9. 1 have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subjectpropertyandthecomparablesales. 10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest inthesaleorfinancingofthesubjectproperty. 11. 1 have knowledge and experience in appraising this type of property in this market area. 12. 1 am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listingservices, tax assessment records, public land retards and other such data sources for the area in which the property is located. 13- 1 obtained the information, estimates, and opinions furnished by other partlos and expressed in this appraisal report fromreliablesourcesthatIbelievetobetrueandcorrect. 14. 1 have taken into consideration the factors that have an impact on value with respoct to the subject neighborhood, subject property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. Ihavenotedinthisappraisalreportanyadverseconditions (such as, but nut limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of thesubjectproperlyorthatIbecameawareofduringtheresearchinvolvedinperformingthisappraisal. I have considered theseadverseconditionsinmyanalysisofthepropertyvalue, and have reported an the effect of the conditions on the value andmarketabilityofthesubjectproperty. 15. 1 have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, allstatementsandinformationinthisappraisalreportaretrueandcorrect. – 16. 1 stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, whicharesubjectonlytotheassumptionsandlimitingconditionsinthisappraisalreport. 17. 1 have no present or prospective 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 participants in the transaction. I did not baso, either partially orcompletely, my analysis and/or 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 the 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. 16. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) apredeterminedspecificvalue, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pendingmortgageloanapplication). 19. 1 personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in this appraisal report. I certify 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; therefore, any change made to this appraisal is unauthorized and I will take noresponsibilityforit. 20. 1 identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization thatorderedandwillreceivethisappraisalreport. rrepaie Mac rorm to Marco zuu) UAU Version 9/2011 Page 5 of 6 Fannie Mae Form 1004 March 2005 Form 1004UA0 —' WlnTOTAU appraisal soltware by a la mode, inc. —1-800-ALAMODE Page 38 ainFleNa. 12 Pe#7 uniTorm Keslaentiai Appraisal Report File 121530 21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of the 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 States; and any state, the District of Columbia, or other jurisdictions; without having toobtaintheappraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, publicrelations, news, sales, or other media). 22. 1 am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certainlawsandregulations. further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practicethatpertaintodisclosureordistributionbyme. 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 secondary market participants may rely on this appraisal report as partofanymortgagefinancetransactionthatinvolvesanyoneormoreoftheseparties. 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 of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. 25. Any intentional or negligent misrepresentations) contained in this appraisal report may result in civil liability and/or criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United StatesCode, Section 1001, of seq., or similar state laws. SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that: 1. 1 directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 2. 1 accept full responsibility for 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 identified in this appraisal report is either a sub -contractor or an employee of the supervisory appraiser (or theappraisalfirm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law. 4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal 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 aredefinedinapplicablefederaland/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable andvalidasifapaperversionofthisappraisalreportweredeliveredcontainingmyoriginalhandwrittensignature - APPRAISER Signature Name Cor Company a OrionAppraisals, Inc. _ Company Address 2926 Upper 55th Si E Inver Grove Hei his, MN 55076 Telephone Number 1651) 636-1339 Email Address coreyoodonappraisals.com Date of Signature and Report 011ow2o13 Effective Date of Appraisal 01/07/2013 State Certification # 40041305 or State License # or Other (describe) State # State MN Expiration Date of Certification or License 08/3112013 ADDRESS OF PROPERTYAPPRAISED 320 Harbor Ln N Plymouth, MN 55447 APPRAISED VALUE OF SUBJEGT PROPERTY$ 495,000 LENDERICLIENT Name No AMC Company Name Tradition Mortgage Company Address 6800 France Ave, Edina, MN 55435 Email Address SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature Name Company Name Company Address Telephone Number Email Address Date of Signature State Certification # or State License # State Expiration Date of Certification or License SUBJECT PROPERTY Did not inspect subject property Did inspect exterior of subject property from street Date of Inspection Did inspect interior and exterior of subject property Date of Inspection COMPARABLE SALES Did not inspect exterior of comparable sales from street Did inspect exterior of comparable sales from street Date of Inspection 1-reddie Mac Form 70 March 2005 UAD Version 9/2011 Page 6 of 6 Form 1 D04UAD—'winTOTAU, appraisal software by a la mode, inc. —1-600 ALAMODE Fannie Mae Form 1004 March 2005 Page 39 Uniform Residential Annr2i.q:;l RRnnrt FEATURE SUBJECT COMPARABLE SALL #4 COMPARABLE SALE #5 COMPARABLE SALE #6 Address 320 Harbor Ln N Plymouth, MN 55447 PfoArnito Subject 7--- ty 14405 8th Ave N Plymouth, MN 55447 0.30 miles N 720 Niagara Ln N Plymouth, MN 55447 DAA miles NW Sale Price 1R 409 950,',-, --i j$ 692.000 Sale Price/Gross Liv. Area Sq -ft, $ 1132.24 5 N. 2.34-97 Data Source(s) MLS 4119252;DOM 61 MLS 4114679:DOM 139 Verilicalion Source(s) h -t' -d County Countv VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION + Adjustment DFSCRIPWN + Admushent DESCRIPTION $ Adjustmoni Sales or Financing Concessions JF' ";'i Arm Lth ConvdO 0 Arml-th 0 Conv;O Date of Solefrime 0 s07/12;c05/12 0; Location N:RosF N; Res; N;Re% Leasehold/Fee §Im le Fee Simple Fee Simple Fee Simple Silo 17424 sf 15,246 sf 0 23,087 sf 0 view 13'ReswWoods B:Res;Woods N:Res; +5.000 Design (5l) Two Story Two Story Two StorV Quality ofConsiruction 03 Q4 20,000.Q2 -35,000 Actual Age 9 20 11,000 2 -7,000 Condition C3 C4 20.000 G1 -35,000 Above Grade 7010 1 RdMI Baths Total JBdrms.Baths Total JBdrms.1 Baths Total Bdfms. naZhs RoomCount 8 1 4 1 3.0 8 1 3 12.1 8 1 4 13.1 -3,000 Gross Living Area 2.752 5Q.11. 3,100 sq,ft, 13,92 2,945 sq.tL -7.72 Basement & Finished! Booms Below Grade 796sfOsfin 1340sf850sfln Irrilorl,obalo 17,000 'IbI34st7i0sfin -14,200 6,00 Irribri.0balo -6.000 Functional Wity Averape Average Average Reallneooling FWAICA FVVA/CA FWAICA Energy Efficient Hems Typical Typical Tvoical Garage/Carpon 3 CarAttached 3 Car Attached 3 CarAttached PorclVilati4eck Opn& crPor/Pt Dock --. 46,0000pnPor/Deck +3,00 Fireplaces 1 Fireplace 1 Fireplace 2 Fireplaces No[ AgLusimertl (Total) i$ 23,080 [:1 + $ -103,420i$ L+ Adjusted Sale Price ofComparables Net Adj. 5.6%1 Gross Ad 23.6%1$ L Net Adj. 14,9% Not Adj. %1433,03OGross Ld. 17.3% 588,58o Gross Adj. % $ Report the results ofthe research and analysis of the prior sale ortransfer history of thesubject prop" and comparable sales (rpon additional p or sales on page 3), ITEM SUBJECT COMPARABLE SALE # 4 COMPARABLE SALE# 5 COMPAHAUL SALE # 6 Date of Prhur SaWrransler Price of Prior SalwTransfor Data Sources ) CountyiMLS Coun!yIMLS Count IMLS Effecliva Date of Data Sources ) 0110812013 01/0812013 10110812013 Analysis of prior sale or transfer histo of the subject prorty and comparable sales There have been no recorded sales or transfers of the subject inthe last 36 months. There have been no sales ortransfers ofany comparables; in the lost 12 months. Anal sl Comments Sales 4 and 5 were added for additional support of value. Freddie Mae Form 70 March 2005 UAD Version 9/2011 Fannie Mae Form 1004 March 2005 Form 1004UAD.(AC) —"WinTOTAL' appraisal software by a la mode, Inc. — I -800-ALAMODE Page 40 SunnlemQntal Arlrlpnrinrn Bonower/Cllenl Chandfer & S McCoy Properly Address 320 Harbor Ln N city Plymouth County Hennepin State MN TiCade 55447 Lendet Tradition Mortgage c=111-11My:: ::a:vs:s -au: nmarX oT O)We5 l;empaTl50n RpprOaCtt Sales in the subjects market are limited for similar homes. It was neccessary to utilize sales that sold up to 12 months previous the effective date. There are no available sales of the subjects age. The subject was built just before the market crash and new construction in the area had diminished until this year as new construction in the subjects area is prevalent again, Standard adjustments for size are made at $40 per Sq. Ft for GLA and $20 per Sq. Ft. for lower level finish. This appraiser adjusts forsize and bathroom count, not total or bedroom count. Bathrooms adjusted at $6,000 for a full bathroom and $3,000 for a half bathroom. Adjustments for quality are made to sales 4 and 5. The subject has more quality upgrades than sale 4 ceramic and hardwood instead of vinyl, more custom Floor plan, more built-ins) and less quality upgrades than sale 5 (morecustomFloorplan, more built-ins, more overall quality materials). Sales 1 and 2 are older in actual age than the subject. Both sales have updated kitchens, bathrooms, and new flooring giving these sales a similar condition rating. Sale 4 lacks requestedupdatingandisadjustedforaccordingly. Sale 5 is a new construction with no depreciation. Other itemized adjustments are considered self explanatory, FormTA00 — °WinTOTAL, appraisal sothvare by ala mode, inc, —1-880-ALAMODE Page 41 Market Conditions Addendum to the Appraisal Report - _.,_ 4 n The purpose ofthis addendum is to providethe lender/client with a clearand accurate understanding of the market trends and conditions prevalent in the subject net hborhoed. This is a re ulred addendum for all appraisal reports with an effective date on orafter April 1, 2009. Property Address 320 Harbor Ln N City Plymouth Stale MN ZIP Code 55447 BWOWer Chandler & 5 McCoy Instructions: The appraiser must use the iniermatlon required on this form as the basis for his/her conclusions, and must provide support for those conclusions, regarding housing trends and overal market condition as reported In the Nelghborhood section cd the appraisal report form. The appraiser must fill in all the information tothe extent III is available and reliable and must provide analysis as Indicated below. II any required data is unavailable or is considered unreliable, the appraiser must provide an explanallon. it is recognized that not all data sources will be ableto provide data for theshaded areasbolow;11 R is available, however, The appraiser most include the data in the analysis. g data sources providethe required Information as an average instead of the median, the appraiser shouldreport the available figureand identify II as an average. Sales and listings must be properties that compete with the subject property, determined by applying the cdteda that would be used by a prospective buyer of the sub-ecf property. The appraisermust explain any anomalies inthe data, such as seasonal markets, new construction, foreclosures, etc. Inventory,Ana sis Prior 7-12Months Prior 4-6 Months Current -3 Months Overall Trend Total # of Comparable Sales Seide(I 3 3 3 El lncreasin Stable Declining Absorption Rate old SaleslMenlhs] 0.50 1.00 1.00 Increasing ® Stable ID DecliningTotal # of Comparable Active Listings v g ' 1 f)eutibing Stafld Incteasi'ngi Months of Housing Supply ata) Listin S1Ab.Rate} :2 D t-- 9Q1.0 Declihin SabFt{ ?lndreasiq Median:Sala& LutYltce, DOIf,SalelLlstnb Prior 7-12 Months Prior 4$ Months Current -3 Months Overall Trend Median Comparable Sale Pfice 405,000 617.500 611,500 Increasing ® Stable DecliningMedianComparableSalesDasonMarket745315Declining Stable Increasing MedianComparableList Price .,,4500Q ,B9rA5704,950 i lncfeastn' S 6j ;pecrijfig MedianCom arable listings Days on Markets t, _G1 = . 3i t 37Dpc n 5ta.le [jjjoeasfigMedianSalePriceas % of List Price 93.19 98.82 98.63 Increasing 10 Stable Declining Sellar -(developer, builder, etc,)paid financial assistance revalent? ® Yes No Declining IM Stehle Increasing Explain indetail the seller concessions trends for the past 12 rnordhs (e.g., seller contributions Increased from 3% to 5%, increasing use of buydowns, closing costs, condofees, options, etc). Typical seller concessions have remained stable up to 4%. Areforeclosure sales REO sales a factor in the market? Yes ®No If yes, explain including the trends inlistingsand sales of foreclosed properties). Cite data sourcesfor above €nformallon. The above information was obtained from the local Northstar Multi le Listing Service. Summarize the above Information as support for your cunclus€ons in the Neighborhood section of the appraisal report form. If you used any additional information, such as an analysis of pending sales andlor expired and withdrawn Ilstin s, to formulateyour coneluslons, provide bulb an explanation and support for your conclusions. With limited data it is very difficult to portray an accurate trend in the market for similar properties. Total similar sales are relatively stable. Total cum arable active lislin s are minimal. Medlan comparable sale price appears to remained stable and list price appears to he stable. The dale suggests that there is some fluctuation in the market with values being stable. 0the subject Isa unit in acondominium or Cooperative project, complete thefollowng: Project Name: SubjectProject Data Prior 7-12 Months Her 44 Months Current - 3 Months I Overall Trend Tolal # of Comparable Sales Settled lncreasing In stable Declining Absorption hate(Total SaleslMonlhs lncreasing Sfabfe Declining Total # ofActive Gomparable, Listings DecIln Og= Statile fnc(easing Months of Unit Supply (Total L€stingslAb.Hale) _ frPcfief g' - Statile . , .l lcreasfng; Are foreclosure sales (REO sales) atactor in the project? Yes No Ifyes, indicate file number of REO Wings and explain the trends in listings and saes of foreclosed properties. Summarize the above trends and addressthe Impact on the subject unit and project. Al Signature Si nature AppiralserN or chm€dt Supervisory Appraiser Nanne Cam an a Orlon Appraisals, Inc. Company Name Company Address 2926 Upper 55th St E Inver Grove Heights, MN 55( Company Address Slate Ucense/Certification # 40041305 Slate MN State LicenselCertificallon # state Email Address corey@odonappraisals.com Email Address rreuuie rwac rune r i March 2669 rage i or 1 Fannie Mae Farm 1004MC March 2009 Form 10D4MC2—'WinTOTAL° appraisal software bya la mode, Inc. —1-000-ALAMDDE Page 42 Subject Photo Page BorrowerlCtenl Chandler & S McCoy ProperlyAddress 320 Harbor Ln N Cily Plymouth CountY Henne In Slate MN Zip Code 55447 Lender Tradition Mort a e Subject Front 320 Harbor Ln N Sales Price G.L.A. 2,752 Tot. Rooms 8 Tot. Bedrms. 4 Tot. Bathrms. 3.0 Location N;Res; Yew B;Res;Woods Site 17424 sf Quality Q3 Age 9 Subject Rear Subject Street Farm PIMUR — WnTOTAL' appraisal softwareby a la mode, inc. —1-000-ALAMGUL Page 43 Hain File ND. 121530 Pae # Interior Photos Borrovvar/Cfent Chandler & 5 MCCo Property Address 320 Harbor Ln N q!tL. Plymouth Goun Hennepin State MN Zip Code 55447 Lender Tradition Mortclage Utilities Main Level Bathroom Family Room Great Room Main Level Bedroom Kitchen Dining Area Master Bathroom Master Shower Master Bedroom Loft/Sitting Area Upper Level Bathroom Bedroom Bonus Bedroom Rear Yard Form PICINT15— °WinTOTAL' appraisal software by a la mode, inc. —1-800-ALAMODE Page 44 Comparable Photo Page Comparable 1 905 Fembrook Ln N Prox to Subj. 0.40 miles N Sales Price 405,000 G.L.A. 2,302 Tot. Rooms 8 Tot. Betlrms, 4 Tot. Balhrms. 2.1 Local€on N;Res; View B;Res;Pond Site 28,750 sf Quallty 03 Age 20 Comparable 2 14410 8th Ave N Prox. to Subj. 0.32 miles N Sales Price 473,900 G.L.A. 2,134 Tot. Rooms 9 Tat. Badrms. 4 Tot. Bathrms. 2.1 Location N;Res; View B;Res;Woods Site 14,810 sf Guallty 03 Age 20 Comparable 3 14504 10th Ave N Prux to Sub}. 0.45 miles N Sales Price 599,000 G.L.A. 2,789 Tot. Rooms 8 Tot, Betlrms. 4 Tot. Bathrms. 3.1 Location N;Res; View B;Res;Woods Site 21,344 sf Quality 03 Ago 3 Form PICUB.CR — `4yinTBTAL' appraisal sofiware by a la mode, inc, — 1 -800-ALAMODE Page 45 Comparable Photo Page Comparable 4 14405 8th Ave N Prox. to Subj, 0.30 mles N Sales Price 409,950 GLA, 3,100 Tot. Rooms 8 Tot. Bedrms. 3 Tot. Bathrms. 2.1 LocatloR N;Res; View B;Res;Woods site 15,248 sf Quality Q4 Age 20 Comparable 5 720 Niagara Ln N Prox, to Subj. 0.48 miles NW Sales Price 692,OOO G.L.A. 2,945 Tot. Rooms 8 Tot. Bedrms. 4 Tal. Bathrms. 3.1 Location N;Res; View N;Res; Site 23,087 sf Quality Q2 Age 2 MLS Photo Protided Actual Photo Unavailable Comparable 6 Prox to Subj. Sales Price G.L.A. Tot. Rooms Tot. Budrms. Tot, Balhrms, Location View Site Quality Age form PIC4x6.CR---'N1inTOTAL' appraisal software by a la mode, im-1.800-ALAMODE Page 46 Building Sketch SorrowedCllem Chandler & S McCoy Properly Address 320 Harbor Ln N City Plymouth Coun Henne in 5iate MN 7p Code 55447LenderTraditionMortae r--------- e I 1 I Concrete Patio 1 I 1 1 r 23'1 I First Floor 12 21' 13' 711 Family Room screened Porclr j N Great Room 7r M I Bath Staircase Kitchan m_ Dining Bedroom Foyer Area Mud34' 16' Room -4 Open Porch i n 7' 20' I M4 M4 I 3 Car Attached I N 24' rrrrra.stenSer .I. , F,stFloor 5ecand Floor Total tiving Area (Rounded): Non by"in Area - " ' 3 Car Attached Screened Porch ConcretePago Open Porch Unfinished easement boN 21' Second Floor 23' Master Bath Master Bedroom wic Staircase M Loft - Bedroom Bath r' 0N LBedroo5m-2 12' Area Calculations 1638 Sq it 1114 54 It 2752 Sq ft 808 Sq tt 15659 f1 144 Sq fl 210 Sq it 796 Sq it 34' Form SKUldSM °W11TOTAL• appraisal soUare bya is mode, inc.—1-800•ALAMOOE Page 47 Wain FileNo. 1215391 Pae -#—161 Location Map Bomilver/Client Chandler & S McCoy Property Address 320 Harbor Ln N City Plymouth Ccunly Hennepin Slate IVIN 7i Code 55447 Lender Tradition Mortoage IAF KJn -Ci IMII.Ave N 13th-R[A - latb.-Ave:N f t. 41 12th Ave N - Jim S tb,AI;4 N 2)Gyds Form MAKLOC -- IWInTOTAL' appraisal software by a la made, inc. — 1 -800-ALAMODE Page 48 J T. CdA J, N 2)Gyds Form MAKLOC -- IWInTOTAL' appraisal software by a la made, inc. — 1 -800-ALAMODE Page 48 License COREYALLEN SCHMIDT 2926 UPPER 55T14STREET EAST INVER GROVE HEIGHTS, MN 55076 Main File e STATE OF MINNESOTA Department of Commerce The Undersigned COMMISSIONER OF COMMERCE for the State of Minnesota hereby certifies that Corey:Allan Schmidt 2926 UPPER 55Th STREET EAST INVER.GROVE HEIGHTS, MN 55076 has complied with the laws of the State ofMinnesota and Is hereby licensed to transact the business of ResidentAppraiser: Certified Residential License Number: 40041305 Mess this authority is suspended, revoked, or otherwise legallyterminated. This license.shall he in effect u1til August 31, 2013. IN TESTIMONY WHEREOF, f havehereunto setmy hand this August28, 2012. Elm COMMISSIONER O1= COMMERCE Minnes01!2Tlepartment ofCommerce Licensing 13ivlslon 85 71h Place East, suite 500 St. Paul, MN 58101-3165 Telephone: {651} 286,6319 Email: ncensing.mmmerce@state.mn_us Website: commerce.state.rnn_ug Notes: Continuing Education, CE.RtjgrlirementTugs CE Required Hou Total - Appraiser 30.04 USPAP 7:00 ContinuingEducatlaa_ 15hours.is re- IadI thefirsi renewal period, which Includes a7iwut USPAP oaurse. 30 hoursisrequiredforeachsubsequentrenews .period, whichIncludes a 7 hour USPAPcourse. Appralsers: You mustholds licensed Residential,Ceitiaed Residential, or Crtih&l General qqualification In order 10 memine .statetrnjpdarafly-related trSnsacliors. Trainees do not quarlFg. For further del lls, please visit our vrebsite Farm SCPILGL—"WinTOTAL" appralsal saitsvare by a la made, Inc. —1.800-ALAM00E page 49 E & 0 Insurance - Page 1 NAVIGATORS INSURANCE COMPANY TRIS IS:A CLAIMS MADE INSURANCE POLICY. TEAS POLICYAPPLIES ONLY TO THOSE CLAIMS THATARE FIRST MADEAGAINST THE INSURED DURING THE: POLICY PERIOD. ALL CLAIMS MUST BEREPORTED INWRITING TO THE COMPANY OUNING THEPOLICY PERIOD OR WITHIN 60 DAYS AFTERTHE END OF THE POLICY PERIOD, PLEASE READ THIS POLICY CAREFULLY, REAL ESTATE PROFESSIONAL ERRORS ANIS OMISSIONS INSURANCE PQI„ICY DECLARATIONS POLICY NUMBER: PI112RELl22I22Iv RENEWAL OF: 1. NAMED IN8l1RED: Orton Appralsals, Inc, 2. ADDRESS: 2820 UPper 55111 Sireet N St Paul, MN 55070 3. POLICYPERIOD: FROM: 01/2912012 TO: 01/29/2013 42:01 A.M. Standard Time at the address oftheNamed Insured as slated in Number 2 above. A. LIMITS OF LIABILITY: (JrtclasNeafolauuaxpensas); A: $1,000,000 Limitof1,194111ty-pechClaim B. S 100,609 Limit ofLlabffily-PoRcy Aggregate 51 DEDUCTISLE: (Incfusivaofulaim expense): $ 5,090 Eauh Clalm 8, PREMIUM - 7. RETROACTIVE DATE: 0112912007 a. FORMS ATTACHED: NAV RELNIC PF (02 I1) NAV REL300 MN (02 11) NAvIvL025 (02 11) PICOGRAM ADMINISTRATOR; HethartH. dandyT11suffincc Agency Me. 75'Secand AveSuite410 Aleedltam, MA 02494.2B76 NAV REL DEC (0211) Page 1 of2 lyawjw wdiRmaelois Form SCNLGL—'WInT0TAL1 appraisal software by a la made, Inc. —1-800-ALAMODF page 50 E & 0 Insurance - Page 2 BY Acceptance ofth€s popsy the insured agrees that the statements In the Declarations and the Application and anyattachmentsheretoaretheInsuredsagreementsandrepresentationsandthatINTpolicyembodiesallagreementsexistingbetweentheInsuredandtheConpanyoranyof €is representatlues relaiing to this insurance. INWITNESS M15REOF. We have caused Vi€s policyto be slgned.by.our President and Secretary. kTZ1w k -A— ] EmilyMiner] Secretary AAV REL, DEC (02 11) Page 2 of2 Stanley A. Galonskil President v1ff-leOrA7 rusurftA Worldto fllor/ony Farm SCNLGL °tMnTOTAL" appraisal software by a la made, inc.—1-8DD-ALAMODE Page 51 city of Agenda Plymouth Number: Adding Quality to Life To: Local Board of Appeal and Equalization LOCAL BOARD OF APPEAL 8: Prepared by: Janene Hebert, City Assessor EQUALIZATION MEETING Appeal in Person April 23, 2013 Item: James and Heidi Krocak 28-118-22-44-0069 1461013 th Place North, Plymouth MN 1. ACTION REQUESTED: Sustain the 2013 market value of $407,400. 2 2. BACKGROUND: James Krocak appeared before the Local Board of Appeal and Equalization on April 9, 2013. Mr. Kxocak presented the attached information for review and consideration. City assessor Janene Hebert and appraiser Tamara Anderson met with Mr. Krocak after the Local Board of Appeal and Equalization to explain why the property increased in value from 353,200 to $407,400. The following items were discussed: The property was a part ofthe 2013 quintile area. The land in the neighborhood was increased to reflect market conditions. The homes in his neighborhood were physically inspected and the characteristics (land and improvements) were reviewed. The property owner (at the time) scheduled an inspection for June 27, 2012. Cindy Bowman updated the basement finish, added the deck, and modified the grade based on the builder and quality of construction. The property was listed for sale in October, 2012 for $430,000. James and Heidi Krocak purchased the property for $422,000 on December 14, 2012. On April 10° 2013 Mr. Krocak sent the city a copy of the appraisal prepared for financing, a copy of which is attached. Tamara Anderson met Mr. Krocak at the property to conduct an inspection. The information Ms. Anderson collected was consistent with the information identified by Ms. Bowman. Ms. Anderson pulled comparables, and adjusted and reconciled them to a value of $418,100. Janne Hebert and Tamara Anderson contacted Mr. Krocak on April 15, 2013 letting him know that the appraisal came in at $418,100 and we could not recommend a reduction. While we recommend sustaining the value, the Local Board of Appeal and Equalization has the authority to raise, lower, or sustain the value. Page 52 APPEAL #2 2013 BOARD OF APPEAL & EQUALIZATION STAFF REPORT AND RECOMMENDATION PROPERTY OWNERS NAME: James T Krocak & Heidi M Krocak PROPERTY ADDRESS: 14610 13`h Pl N PID #: 28-118-22-44-0069 LEGAL DESCRIPTION: Lot 11, Block 2 Parkers Lake Farm 2nd Addn PROPERTY TYPE: Single Family Residential SCHOOL DISTRICT: Wayzata School District 284 MOST RECENT SALE: December 14, 2012 Purchase Price: $422,000 Seller Paid Adjustments: $8,000 Adjusted Sale Price: $414,000 Financing Terms: 5% down, 95% financed 2013 MARKET VALUE VALUE PRIOR TO LOCAL BOARD ASSESSOR'S RECOMMENDATION LAND MARKET VALUE 130,000 130,000 STRUCTURE MARKET VALUE 277,400 277,400 TOTAL MARKET VALUE 407,400 407,400 ASSESSMENT HISTORY 2011 2012 2013 Total Market Value 369,700 353,200 407,400 Improvement 0 0 0 Page 1 of13 Page 53 Subject Property i fu i v f 3 rlace 1Vonn, riymoutn, mmnesota 2013 Assessed Value: $407,400 Appraised Value: $418,100 Recommendation: Sustain 2013 Market Value This report is not an appraisal as defined by MS §82B. 02 (Subd. 3) nor does it comply the Uniform Standards ofAppraisal Practice. It is intended to be used as a reference only and any use other than its intended use is prohibited and unla-wful. The author does not represent this to be an appraisal and is not responsible far any inappropriate use. Page 2 of 13 Page 54 Subject Location Map CO RD NO 6— Parkers Lake F- 1 ,- \r ,. i `t ._. --L LACI R LA Subject Property Location: The property is located on 13"' Place N in the Parkers Lake Farm single family residence neighborhood. It is close to County Road 6 and Interstate Highway 494 in Wayzata School District 284. Page 3 of 13 Page 5 5 Improvements and Features: The two story home was built in 1986 by Tony Eiden. It has 2,441 above ground finished square feet with an additional 800 square feet finished in the basement. It features 4 bedrooms and 2 1/2baths, a 3 car attached garage, screen porch, deck, some built in kitchen appliances and lfireplace. Front view of home taken as ofApril, 2013 Rear view of home (Source: MLS November 2012) View ofKitchen (Source: MLS November 2012) View of Living Room (Source: MLS November 2012) View of Study (Source: MLS November 2012) View of Basement (Source: MLS November 2012) Page 5 of 13 Page 57 Sales Comparison Approach The sales comparison approach is based upon the Principle of Substitution. This principle contends an informed purchaser would pay no more for a property than the price of acquiring an equally desirable substitute in an open, competitive market. To properly develop this approach, recent sales of like kind real estate are needed. Recent and like kind are debatable terms. In our opinion, sufficient recent conveyances of similar property do not exist. That said, this approach is developed herein at the explicit request of our client. It lacks reliability because the conveyances used are minimally comparable hence require major adjustments for dissimilarities. In an appraisal, the real estate being appraised is referred to as the "subject" or "subject property." Properties possessing characteristics that are physically and locationally similar to the subject are called "comparables" or "comparable sales." This approach compares prices, terms, and features of similar properties that have sold. Differences are noted. Dissimilarities between the subject and comparables are categorized into elements of comparison. To compensate for dissimilarities, adjustments are applied to the sale prices of the comparable sales. Then, a value estimate for the subject is reconciled from the range in adjusted sale prices. The resultant worth estimate is called Market Value" or "Value in Exchange." Some of the following transactions may have employed favorable financing. As used herein, the term favorable financing means some type of debt arrangement the buyer could not reasonably have obtained from a disinterested, third party lender. Those transactions utilizing favorable financing were adjusted to a cash basis. Cash equivalency adjustments are required by USPAP and FHMEA. All conveyed on an "aim's length" basis except as specifically noted otherwise. An "arm's length" transaction is an agreement between unrelated parties under no duress. Numerous conveyances were considered on a preliminary basis. Those cited in this appraisal report were judged most comparable. COMPARABLE #1 1461013'h Place N The subject property is comparable #1—the property sold on December 10, 2012 for 422,000. Upon investigation of the purchase agreement it was discovered that the seller paid $8,000 towards closing costs for the buyer. After adjusting for this factor the adjusted sale price of the subject property is $414,000. No other adjustments were necessary. Page 6of13 Page 58 COMPARABLE #12 905 Fernbrook Lane N COMPARABLE #3 1602022 d Place N Comp # 2 is the most comparable to the subject in terms ofroom count, location, and neighborhood similarities. This two story home was built in 1993 and is similar to the subject in above ground square feet, condition, quality, number of bedrooms, bathrooms and fireplaces. Adjustments were made to comparable # 2 to compensate for the lack of basement finish and a screen porch, a 2 car garage instead of a 3 car garage, a larger deck than the subject property and also for a larger lot size than the subject property. The adjusted sales price of comp # 2 is $419,254. This two story home was built in 1990 and is similar in condition and quality to the subject property. Comp # 3 had positive adjustments made to the sales price to compensate for less above ground square footage, the lack of a screen porch, a 2 car garage instead of a 3 car garage and also for a smaller lot size than the subject. Negative adjustments were made to comp # 3 to compensate for having one more bedroom, bath and fireplace compared to the subject, for having more basement finish square feet, a better walkout rating with more windows and fewer egress windows, and also for having a larger deck than the subject. The adjusted sales price of comp # 3 is $410,730. Page 7 of 13 Page 59 COMPARABLE # 4 2370 Yuma Lane N COMPARABLE # 5 2375 Archer Lane N This two story home was built in 1988 and is similar in condition and quality to the subject property. It also has a 3 car garage like the subject property. Comp # 4 had positive adjustments made to the sales price to compensate for less above ground square footage and basement finish square footage. Negative adjustments were made to comp # 4 to compensate for having one more bedroom and bathroom, 2 more fireplaces, a better walkout rating with more windows and fewer egress windows, a larger deck, a glazed porch versus a screen porch, a larger lot and a pool. The adjusted sales price of comp # 4 is 418,738. This two story home was built in 1988 and is similar to the subject in terms of above ground square feet, basement finish square feet, condition, quality, number of bedrooms, as well as a 3 car garage and screen porch. Comp # 5 had negative adjustments made to the sales price to compensate for an extra bathroom and fireplace, a walkout basement, a larger deck and a larger lot compared to the subject property. The adjusted sales price of comp # 5 is $421,562. The comparables have been adjusted to the subject property for differences including terms of financing and physical characteristics such as size, number of bedrooms, basement finish and other features. A copy of the adjustment grid is presented on page 9, followed by a map of the comparables. Page 8 of 13 Page 60 5 S f.'d•F( i'} 4 rkX4't',• y} SFE 3 it t r. 1. r °t !Ig' 1101 Xw COMPARABLE # 5 2375 Archer Lane N This two story home was built in 1988 and is similar in condition and quality to the subject property. It also has a 3 car garage like the subject property. Comp # 4 had positive adjustments made to the sales price to compensate for less above ground square footage and basement finish square footage. Negative adjustments were made to comp # 4 to compensate for having one more bedroom and bathroom, 2 more fireplaces, a better walkout rating with more windows and fewer egress windows, a larger deck, a glazed porch versus a screen porch, a larger lot and a pool. The adjusted sales price of comp # 4 is 418,738. This two story home was built in 1988 and is similar to the subject in terms of above ground square feet, basement finish square feet, condition, quality, number of bedrooms, as well as a 3 car garage and screen porch. Comp # 5 had negative adjustments made to the sales price to compensate for an extra bathroom and fireplace, a walkout basement, a larger deck and a larger lot compared to the subject property. The adjusted sales price of comp # 5 is $421,562. The comparables have been adjusted to the subject property for differences including terms of financing and physical characteristics such as size, number of bedrooms, basement finish and other features. A copy of the adjustment grid is presented on page 9, followed by a map of the comparables. Page 8 of 13 Page 60 0 aged b U4CD O F• W cn r m 0 O D X O z Oa C N m z q A u Z O r o r 0 0 M m 8 k7 D co Cn Cn DorzmDm22PvII b' p O ao n Q p r 0 rC O D n C r Irl rTI m Cmn fT1 n O G rrrl ni. 7 n 2; C C Fri I? O f7 Z D r m m z. z N cn 1 po 11 T. p-6969 R ry N p O P i EA N1 O O n COcDyCoip O W N A CD Q O" N W a 7 CD O s C O a O CDO0CwjflIVOO Q N0 n•' t Z pS CD gyp c O X a C fl 3 N,pp N Q 1 C]00 figP Q cn 0) o A fA p O? d N p ap Q O d O g O Q O l7 N Ga C3 O 00 0 Q N 3 s d Orn z 4 ONo a C o m Z N n Cf1 A N N rnW N 0 X w tos cn 2 CCD cn N W CWJI O 0 W 49 p opp n [A N en EO s w 0 o 0 ea w cn 077 7 N a- CCD p a C00 M C j NNT] A O Q O N A O NCitOO77 s cn A cCDn i pCn r33oO000CDOZ O O O O d CP U31, .0 C Z N D O p CA A N N 1' ZIN N N DD O s v cod OrnorooNcc)OO ca69cn0ulD 64 i CD 0 N C7A D O N O p d O P_ NNZFN L7 wO coO OO o CDw O N 11OOO v Ln I lCTIy I d0-1 nCo o OO OO OO OO CoO UiO mO OO OO OlCfi P Z O 0 0 0 0 0 0 0 0 O 7 co .08 W 0t W I o' @ T N D fA W A x N N r. S13 Cb O 3) p C.0W O SUI CD 3_ p ti i p• I gy,pp' oo d o CO.PnN cn CO W00 Coco Aco`, NN p O 0) O oo N N N N i C77 I W W O O x co 61 O AO O OO Nm 3m NO I O N O w Z o OO OO OO OO O dO 0O 0O OO OO tPO O < 0 l< U3 CO n N n p C1 4p C_n I d (D to W O s coM p N- N W d N Cr N CTl n N C r IC71 g CD @ Cb 40 dNOOwO 00) Nt)'I cm N Co w 00O O N a N N N NO CD s W k C) O 0 0131 W d d 4f N o o d 0 0 0 z cn r m 0 O D X O z Oa C N m z q A u a— — -- i 1 2 r C ity of Plymouth, MN 0 SUBJECT fEsy COMP #1 PARKERSLAKE T F—P 114 -p7LIT. t I COMP#2 I Comparable Sales Map TI t Feppseitz a oompLati3m of lkibFraalin akd bb fiom cr, cDi i1-'. stat aid otie r ;,) i ice S Al at I a; otbee 11- 11 ve r&d. IvibrusaW ;ko4 kI be V V.1 e 1IM11 aId Oemilparedwiti OIJl.4Y ISoi lit dome at Page 62 Owner's Concerns: Jim Krocak appeared at the Local Board of Appeal and Equalization on April 9th, 2013. He is concerned with the increase in value on his property from the 2012 estimated market value of $353,200 to the 2013 estimated market value of $407,400. Mr. Krocak feels his value increase is out of line with the change in value of the neighboring properties on his block. Reconciliation of Value: Mr. Krocak contacted me on April 9th, 2013 just prior to the Local Board of Appeal and Equalization meeting that evening. He was concerned with the increase in value on his property from the 2012 estimated market value of $353,200 to $407,400. Due to time constraints, Mr. Krocak chose to appeal to the Local Board ofAppeal and Equalization in order to keep his appeal rights open. After the meeting on April 9th, 2013, Janene Hebert, City Assessor and myselfwent over the records of Mr. Krocak's property with him. This property was reviewed during our 2013 quintile. On June 27th, 2012 Residential Appraiser, Cindy Bowman completed a quintile appointment at the property that was set up by the previous owner, Linda Zachow. At that appointment Cindy Bowman made changes to the property information based on observations she made while reviewing the property with the owner. The changes made included picking up 800 square feet of basement finish and an 81 square foot deck that we did not previously have in our records. At that time a change was made to the grade of the house indicating that the house was above average instead of average quality. In addition to these changes made during the quintile review, the values attributed to the lots in the neighborhood received an increase for the 2013 assessment in order to equalize these values with the values of other lots in similar neighborhoods across the City ofPlymouth. The subject property saw an increase in lot value from 105,000 in 2012 to $130,000 in 2013. All of these changes contributed to the increase in value from 2012 to 2013. In response to the appeal by Mr. Krocak, I inspected the property on April 10th, 2013 with Mr. & Mrs. Krocak. During this inspection I determined that the changes made by Cindy Bowman on June 27th, 2012 were correct and no additional changes needed to be made to our records. In order to further review the value of the property I obtained a copy of the appraisal and purchase agreement from Mr. Krocak from the sale of the subject property on December 14"', 2012. Based on a review of the purchase agreement it was determined that the property sold for an adjusted sale price of $414,000. The appraisal that was done for financing indicated a value of $422,000 as of 11/19112. In researching sales I found that the only sales in Mr. Krocak's neighborhood in the past year were of properties with lakeshore, so in my review I used sales in similar neighborhoods, with similar style, size, quality, construction and location as the subject property. Three of the four sales I used in making my analysis were the same as those in the finance appraisal. The sale ofthe subject property was also included on the sales comparison adjustment grid for comparison purposes only. No weight was placed on this sale. Based on my analysis comparable # 2 located at 905 Fernbrook Lane N was the most similar to the subject property. More weight was placed on this sale than on the other sales in the analysis. Page 11 of 13 Page 63 The final value was reached by placing 50% weight on the adjusted sales price of comp # 2 and 50 % weight on the average of the adjusted sales prices of comps # 3, 4, and 5. The final value based on my analysis is $418,100 as of Jan 2"d, 2013. Four Hundred Eighteen Thousand and One Hundred ......... $418,100 19T Tamara Anderson, SAMA Appraiser 763-509-5355 tandersongplymouthmn. Rov Page 12 of 13 Page 64 Addendum Purchase Agreement Deed Financing Appraisal Owner's Appeal Page 13 of 13 Page 65 PURCHASE AGREEMENTKELLERThisformapprovedbytheMinnesotaAssociationofREAl_TORS10, WILLIAM which d[soialms any liability arising out of use or misuse of this form. CLASW, Itrflt_rY a 2012 Minnesota Association of REALTORS% Edina, MN r[c[rr[n r4r 1. Date _ 11/11/1.2 -- 2. Pagel of 3. RECEIVED OF James & Heidi, Krocak 4. 5. the surn of Four Thouoand Dollars ($ 4,000.00 } 6. by Z CHECK CASH NOTE as earnest money to be deposited upon Final Acceptance of Purchase Chock one.)........................ 7. Agreement by all parties, on or before the third Business Day after Final Acceptance, in thetrust account of llsting 8. broker, unless otherwise agreed to In writing, but to be returned to Buyer If Purchase Agreement Is not accepted 9. by Seller. 10. Said earnest money is part payment for the purchase of the property located at 11. Street Address: 146:LO 13th Place X 12. City of . PIVIAauth , County of Hennepin , 13. State of Minnesota, legally described as 14. ,Legal to conform to street address. 16. 16. 17. including all fixtures on the following property, if any, owned by Sailor and used and located on said property, 18. including but not limited to garden bulbs, plants, shrubs and trees; storm sash, storm doors, screens and awnings; 19. window shades, blinds, traverse and curtain and drapery rods; attached Iighting fixtures and bulbs; plumbing 20. fixtures, water heater, heating plants (with anyburners, non -fuel tanks, stokers and other equipment used in connection 21, therewith), built-in air-conditioning equipment, electronic air filter, water softener X OWNED RENTED NONE, Check one.)......................... 22. built-in humidifier and dehumidifier, liquid fuel tank(s) OWNED RENTED 0 NONE and controls (if the Check Ono.) ............................ 23, property of Seller), sump pump; attached television antenna, cable TV Jacks and wiring; BUILT INS; dishwashers, 24. garbage disposals, trash compactors, ovens, nook -top stoves, microwave ovens, hood fans, Intercoms; 25. ATTACHED., carpeting; mirrors; garage door openers and all controls; smoke detectors; fireplace screens, doors and 26. heatilators; AND the following personal property: 27. - - - - - 28. 29. 30, all of which property Seller has this day agreed to sell to Buyer for sum of ($ 4zz, ono, as ) 1, sour Hundred. -Twenty -Two Thouaand( Dollars, 32. which Buyer agrees to pay In the following manner: 3S. 1. Gash of s percent (%) of the sale price, or more In Buyer's sole diseretlon, which includes the earnest 34. money; PLUS 35. 2. Financing of 95 percent (%) of the sale price, which will be the total amount secured against this property 36. to fund this purchase. 37. Such financing shall be (checic one) X a first mortgage; a contract for deed; or a first mortgage with 38. subordinate financing, as described In the attached Addendum: 39. X Conventional FHA DVA Assumption Contract for dyed Other: Chock ono, ..... -•...................... _._......................... •--,......... 40. The date of closing shalt be Deeernber 14th , 20 yz M[V:F'A-1 (110112) Page 66 KEL ER WILLIAMS, PURCHASE AGREEMENT k,15i: nn:.,i„ 00,L°: 41. Page 2 Date 17 31/12 42. Property located at 14610 13th Place N, Plymouth 43. This Purchase Agreement IS IS NOT subject to a Contingency Addendum for sale of Buyer's property. Check one.)•••• -•- 44, (If answer is IS, see attached Addendum.) 45. (if answer Is IS NOT, the closing of Buyer's property, If any, may still affect Buyer's ability to obtain financing, Iffinancing 46, is applicable.) 47. This Purchase Agreement is © 1S NOT subject to cancellatlon of a previously written purchase agreement Ghaok ane.)._..... 48, dated 20 49. (if answer Is^IS, said cancellation shall be obtained no .later than - - - W _ , 20 - If 50, said cancellation is not obtained by said date, this Purchase Agreement is canceled, Buyer and Seller shall immediately 51, sign a Cancellation of Purchase Agreement confirming said cancellation and directing all earnest money paid 52. hereunder to be refunded to Buyer.) 53. Buyer has been made aware of the availability of property Inspections. Buyer FXI Elects Declines to have a check one.) ............. 54. property Inspection performed at Buyer's expense. 55. This Purchase Agreement R] IS IS NOT subject to an Inspection Contingency Addendum. Check one.) ----- 56. (if answer is IS, see attached Addendum.) 57. DEED/MARKETABLE TITLE; Upon performance by Buyer, Seller shall deliver a 58. © Warranty Deed or Other: Deed jolned In by spouse, if any, conveying Check one.) ........ ........ .......................... I .............. ....... 59. marketable title, subject to 60. (a) building and zoning laws, ordinances, and state and federal regulations; 61, (b) restrictions relating to use or improvement of the property without effective forfeiture provisions; 62. (c) reservation of any mineral rights by the State of Minnesota; 63. (d) utility and drainage easemonts which do not Interfere with existing Improvements; 64. (e) rights of tenants as follows (unless specified, not subject to tenancies), none 65. ;and 66. (f) others (must be specified in writing), none 67. 68, Sellor shall pay on the date of closing all real estate taxes duo and payable in all prior years including all penalties and 69. interest. 70. BUYER SHALL PAY © SELLER SHALL PAY on date of closing any deferred real estate taxes (e.g., Green check ane.)....---............------................ 71. Acres) or special assessments, payment of which is required as a result of the closing of this sale. 72. BUYER AND SELLER SHALL PRORATE AS OF THE DATE OF CLOSING RC SELLER SHALL PAY ON Check one. ................................... ................. .............................................. 73. DATE OF CLOSING all installments of special assessments certified for payment, with the real estate taxes due and 74. payable In the year of closing. 75. BUYER SHALL ASSUME ® SELLER SHALL PAY on date of closing all other special assessments levied as Check one.) .............................................. 76, of the date of this Purchase Agreement. 77. BUYER SHALL ASSUME U SELLER SHALL PROVIDE FOR PAYMENT OF special assessments pending as Checkone.) ----------- ........................•............................. 78, of the date of this Purchase Agreement for improvements that have been ordered by any assessing authorities. (Seller's 79. provision for payment shall be by payment into escrow of two (2) times the estimated amount of tho assessments or 80. less, as required by Buyer's lender.) 1'rzsf-lr, Page 67 HUM WILLIAMS. PURCHASE AGREEMENT CLARK: UAM i11lTI1VVI;5T 1,1281, Page 3 Date- B2. Property located at 14610 13th Place N, Plymouth -- 83. Buyer shall pay any unpaid special assessments payable In the year following closing and thereafter, the payment of 84, which is not otherwise herein provided. 85. As of the date of this Purchase Agreement, Seller represents that Seller [] HAS Q HAS NOT received a notice Check one)............ 86. regarding any new improvement project from any assessing authorities, the costs of which project may be assessed 87. against the property. Any such notice received by Seller after the date of this Purchase Agreement and before closing 86, shall be provided to Buyer immediately. If such notice is Issued after the date of this Purchase Agreement and on 81 or before the date of closing, then the parties may agree in writing, on or before the date of closing, to pay, provide 0, for the payment of or assume the special assessments. In the absence of such agreement, either party may declare 91. this Purchase Agreement canceled by written notice to the other party, or licensee representing or assisting the other 92. party, in which case this Purchase Agreement is canceled. If either party declares this Purchase Agreement canceled, 93. Buyer and Seller shall Immediately sign a Cancellation of Purchase Agreement confirming said cancellation and 94. directing all earnest money paid hereunder to be refunded to Buyer. 95. Buyer shall pay Z PRORATED FROM DAY OF CLOSING 12ths OF ALL NO real estate taxes due Check one.)--------- ---------------------------- .._............ ..... 96. and payable In the year 20 12 97. Seller shall pay X PRORATED TO DAY OF CLOSING 12ths OF ALLE] NO real estate taxes due and Check one.). ................ .---------------- _..._.......... ............. ... 98. payable In the year 20 12 . If the closing date Is changed, the real estate taxes paid shall, if prorated, be adjusted 99. to thenew closing date. Seller warrants taxes due and payable in the year 20 12 shall be X FILL- PART NOW e..............(Check ono.)----.............. 104. homestead classification. 101. If part- or non -homestead classification is checked, Seller agrees to pay Buyer at closing $ 0.00 102. toward the non -homestead real estate taxes. Buyer agrees to pay any remaining balance of non -homestead taxes 103, when they become due and payable. Buyer shall pay real estate taxes due and payable In the year following closing 104. and thereafter, the payment of which is not otherwise herein provided. No representations are made concerning the 105. amount of subsequent real estate taxes. 106. POSSESSION: Seller shall deliver possession of the property no later than Noone_Dea 15, 2012 after closing. 107. Seller agrees to remove ALL DEBRIS AND ALL PERSONAL PROPERTY NOT INCLUDED HEREIN from the property 108. by possession date. 109. PRORATIONS: All interest; unit owners' association dues; rents; and charges for city water, city sewer, electricity and 110. natural gas shall be prorated between the parties as of date of closing. Buyer shall pay Seller for remaining gallons of 111. fuel oil or liquid petroleum gas on the day of closing, at the rate of the last fill by Seiler. 112. TITLE AND EXAMINATION: As quickly as reasonably possible after Final Acceptance of this Purchase Agreement: 113. (a) Seller shall surrender any abstract of title and a copy of any owner's title insurance policy for the property, If 114. In Seller's possession or control, to Buyer or Buyer's designated title servlce provider; and 115, (b) Buyor shall obtain the title services determined necessary or desirable by Buyer or Buyer's lender, including 116, but not limited to title searches, title examinations, abstracting, a title insurance commitment or an attorney's 117. title opinion at Buyer's selection and cost and provide a copy to Seller. 118. Seiler shall use Seller's best efforts to provide marketable title by the dale of closing. Seller agrees to pay all costs 119, and fees necessary to convey marketable title Including obtaining and recording aII required documents, subjectto the 120. following: 121. In the event Seller has not provided marketable title by the date of closing, Seller shall have an additional 30 days to 122. make title marketable, or In the alternative, Buyer may waive title defects by written notice to Seller. In addition to 123. the 30 -day extension, Buyer and Seller may, by mutual agreement, further extend the closing date. Lacking such 124, extension, either party may declare this Purchase Agreement canceled by written notice to the other party, or 125. licensee representing or assisting the other party, In which case this Purchase Agreement Is canceled. If either 126, party declares this Purchase Agreement canceled, Buyer and Seller shall immediately sign a Cancellation of 127. Purchase Agreementconfirming said cancellation and directing all earnest money paid hereunder to be refunded 128. to Buyer. Mhl.PA3 (10/12) A'".aig~xrq Page 68 KELLER WILLIAMS s i ti p hFAfT} k i4lCt.i PURCHASE AGREEMENT 129. Page 4 Date 11/11/12 130. Property located at - _ - 14610 13th Place rr, plyln th 131. SUBDIVISION OF LAND: If this sale constitutes or requires a subdivision of land owned by Seller, Seller shall pay 132. all subdivision expenses and obtain all necessary governmental approvals. Seller warrants that the legal description 133, of the real property to be conveyed has been or shall be approved for recording as of the date of closing. Seller warrants 134. that the buildings are or shall be constructed entirely within the boundary lines of the property. Seller warrants that 135. there is a right of access to the property from a public right-of-way, Those warranties shall survive the delivery of the 130. deed or contract for deed. 137. MECHANIC'$ LIENS: Seller warrants that prior to the closing, payment in full will have been made for all labor, materials, 138, machinery, fixtures or tools furnished within the 120 days Immediately preceding the closing in connection with 139. construction, alteration or repair of any structure on, or improvement to, the property. 140. NOTICES: Seller warrants that Soller has not received any notice from any governmental authority as to condemnation 141. proceedings, or violation of any law, ordinance or regulation, If the property is subject to restrictive covenants, Seller 142. warrants that Seiler has not received any notice from any person or authority as to a breach of the covenants. Any 143. such notices received by Seller shall be provided to Buyer Immediately. 144. DIMENSIONS: Buyer acknowledges any dimensions, square footage or acreage of land or Improvements provided 145. by Seller, third party, or broker representing or assisting Seiler are approximate. Buyer shall verify the accuracy of 146. Information to Buyer's satisfaction, if material, at Buyer's sole cost and expense. 147. ACCESS: Sailor agrees to allow reasonable access to the property for performance of any surveys or Inspections 148. agreed to herein. 149. RISK OF LOSS: If there is any loss or damage to the property between the date hereof and the date of closingfor any I50, reason, Including fire, vandalism, flood, earthquake or act of God, the risk of loss shall bo on Seiler. If the property 151. is destroyed or substantially damaged before the closing date, this Purchase Agreement is canceled, at Buyer's option, 152. by written notice to Seller or licensee representing or assisting Seller. If Buyer cancels this Purchase Agreement, 153. Buyer and Seller shall immediately sign a Cancellation of Purchase Agreement confirming said cancellationi and 154. directing all earnest money paid hereunder to be refunded to Buyer. 155. TIME OF ESSENCE: Time is of the essence In this Purchase Agreement. 156. ENTIRE AGREEMENT: This Purchase Agreement, any attached exhibits and any addenda or amendments signed 157. by the parties shall constitute the entire agreement between Seller and Buyer and supersedes any other written or 158. oral agreements between Seller and Buyer. This Purchase Agreement can be modified or canceled only in writing 159. signed by Seller and Buyer or by operation of law.The parties agree the electronic signature of any party on any document 160. related to this transaction constitute valid, binding signatures. All monetary sums are deemed to be United States 161. currency for purposes of this Purchase Agreement. Buyer or Seller may be required to pay certain closing costs, which 162. may effectively increase the cash outlay at closing or reduce the proceeds from the sale. 163. FINAL ACCEPTANCE: To be binding, this Purchase Agreement must be fully executed by both parties and a copy 164. must be delivered. 165. CALCULATION OF DAYS: Any calculation of days begins on the first day (calendar or Business hays as specified) 166. following the occurrence of the event specified and includes subsequent days (calendar or Business Days as specified) 167. ending at 11:59 P.M. on the last day. 168. BUSINESS DAYS. "Business Days" are days which are not Saturdays, Sundays or state or federal holidays unless 169. stated elsewhere by the parties in writing. 170. DEFAULT: If Buyer defaults in any of the agreements herein, Seller may cancel this Purchase Agreement, and any 171. payments made hereunder, including earnest money, shall be retained by Seller as liquidated damages and Buyer 172. and Seller shall affirm the same by a written cancellation agreement. 173. If Buyer defaults In any of the agreements hereunder, Seller may terminate this Purchase Agreement under the 174. provisions of Mfg Statuto 559.21, if either Buyer or Seller defaults In any of the agreements hereunder or there exists 175, an unfulfilled condition after the date specified for fulfillment, either party may cancel this Purchase Agreement under 176. MN Statute 559.217, Subd. S. Whenever it Is provided herein that this Purchase Agreement is canceled, said language 177. shall be deemed a provision authorizing a Declaratory Cancellation under MN Statute 559.217, Subd. 4. 178. If this Purchase Agreement is not canceled or terminated as provided hereunder, Buyer or Seller may seek actual 179. damages for breach of this Purchase Agreement or specific performance of this Purchase Agreement; and, as to 180. specific performance, such action must be commenced within six (6) months after such right of action ariaos. MN:PA-4 (10112) Page 69 lrastod RELLLR WILLIAMS.! t I A"Al KPA175 PURCHASE AGREEMENT 181. Page 5 Date _ - 11f11/12 182. Property located at -- 14610 13th P1aae X, Plymouth 183, BUYER HAS THE RIGHT TO A WALK-THROUGH REVIEW OF THE PROPERTY PRIOR TO CLOSING TO 184. ESTABLISH THAT THE PROPERTY IS IN SUBSTANTIALLY TIME SAME CONDITION AS OF THE DATE OF 185. THIS PURCHASE AGREEMENT. 186. BUYER HAS RECEIVED A (check any that apply): K SELLER'S PROPERTY DISCLOSURE STATEMENT OR A 187. SELLER'S DISCLOSURE ALTERNATIVES FORM. 188. DESCRIPTION OF PROPERTY CONDITION: See Seller's Property Disclosure Statement or Seller's Disclosure 189. Alternatives for description of disclosure responsibilities and limitations, If any. 190, BUYER HAS RECEIVED THE INSPECTION REPORTS, IF REQUIRED BY MUNICIPALITY. 191. BUYER ACKNOWLEDGES THAT NO ORAL REPRESENTATIONS HAVE BEEN MADE REGARDING THE CONDITION 192. OF THE PROPERTY, 193. (Check appropriate boxes.) 194. SELLER WARRANTS THAT THE PROPERTY IS EITHER DIRECTLY OR INDIRECTLY CONNECTED TO: 195, CITY SEWER K YES [:]NO I CITY WATER K YES NO 196. SUBSURFACE SEWAGE TREATMENT SYSTEM 197. SELLER CERTIFIES THAT SELLERE] DOES [g DOES NOT KNOW OF A SU13SURFACE SEWAGE TREATMENT Checkonoj ............... 198. SYSTEM ON OR SERVING THE PROPERTY. (If answer Is DOES, and the system does not require a state permit, 199. see Subsurface Sewage Treatment System Disclosure Statement.) 200. PRIVATE WELL 201. SELLER CERTIFIES THAT SELLER DOES © DOES NOT KNOW OF A WELL ON OR SERVING THE phock one.) ................ 202. PROPERTY. (If answer is DOES and well is located on the property, see Well Disclosure Statement.) 203. THIS PURCHASE AGREEMENT IS © IS NOT SUBJECTTO A SUBSURFACE SEWAGE TREATMENT SYSTEM Chock one.) ---------- 204. AND WELL INSPECTION CONTINGENCY ADDENDUM. (If answer Is IS, see attached Addendum.) 205, IF A WELL, OR SUBSURFACE SEWAGE TREATMENT SYSTEM EXISTS ON THE PROPERTY, BUYER HAS 206. RECEIVED A WELL DISCLOSURE STATEMENT AND/OR A SUBSURFACE SEWAGE TREATMENT SYSTEM 207. DISCLOSURE STATEMENT, 208. NOTICE REGARDING PREDATORY OFFENDER INFORMATION, Information regarding the predatory offender 209. registry and persons registered with the predatory offender registry under MN Statute 243.166 maybe obtal.ned 210, by contacting the local law enforcement offices in the community wherethe property is located or the Minnesota 211. Department of Corrections at (651) 361.7200, or from the Department of Corrections web site at 212, www.corr.state.mn.us. 213. HOME PROTECTION/WARRANTY PLAN: Buyer and Seller are advised to investigate the various home protection/ 214. warranty plans available for purchase. Different home protection/warranty plans have different coverage options, 215. exclusions, limitations and service fees. Most plans exclude pre-existing conditions. (Check one.) 216. A Home Protection/Warranty Plan will be obtained and paid by BUYER SELLER to be Issued by fCheck one.)..---- --- 217. at a cost not to exceed $ 218. 19 There will be no Home Protection/Warranty Plan as part of this Agreement. MN:PA-5 (11}/12) 10 --amts Page 70 L-----•---- KELLER 11141t RF•11TV t F 1 t?Y•I•a i PURCHASE AGREEMENT 219. Page 6 Date 11/11/12 220. Property located at 14610 13th Place N, Plymouth 221. 222. nayna Murray Lloensee) 223. Kellar Williamo Premier Realty Real Estate Company Name) 224. Jason Kraemer Licensee) NOTICE is © Seller's Agent [] Buyer's Agent Dual Agent Facilitator. Chockone.)--------------------------- ------ ............ ,........ Is Seller's Agent © Bayer's Agent [] Dual Agent [] Facilitator. Check ane.}------ -------------------------------- --.,.......... 2255. _ Ke11er Williams classic Realty NSR_ Real Estate company Name) 226. THIS NOTICE DOES NOT SATISFY MINNESOTA STATUTORY AGENCY DISCLOSURE REQUIREMENTS, 227. DUAL AGENCY REPRESENTATION 228. PLEASE CHECK ONE OF THE FOLLOWING SELECTIONS, 229. © Dual Agency representation DOES NOTapply In this transaction. Do not complete lines 230-246. 230. Dual Agency representation DOE'S apply in this transaction. Complete the disclosure in lines 231-246. 231. Brokar represents both the Seller(s) and the Buyer(s) of the property involved in this transaction, which creates a 232, dual agency.Th€s means that Broker and Its salespersons owe fiduciary duties to both Seller(s) and Buyer(s). Because 233. the parties may have conflicting Interests, Broker and Its salespersons are prohibited from advocating exclusively for 234. either party. Broiler cannot act as a dual agent In this transaction without the consent of both Seller(s) and Buyer(s). 235. Seller(s) and Buyer(s) acknowledge that 236. (1) confidential information communicated to Broker which regards price, terms, or motivation to buy or sell will 237. remain confidential unless Seller(s) or Buyer(s) instructs Broker In writing to disclose this Information. Other 238. information will be shared; 239. (2) Broker and its salespersons will not represent the Interest of either party to the detriment of the other; and 240. (3) within the limits of dual agency, Broker and its salespersons will work diligently to facilitate the mechanics of 241. the sale. 242. With the knowledge and understanding Dia -explanation above, Sellers) and Buyer(s) authorize and instruct Broker 243. and its salesperson to act as dual a arfFs in this transaction. 244. Seller Buyer _ 245. Seller Buyer 246. Date - Date. 247. OTHER: none 248. 249. 250. 251. 252. 253. 254. 255. 256. 257. MN:PA-6 (10112) lnstanrn Page 71 L 'ti3 MKTELLER j. ELLER` t' e 151t ns.,l"3 a. sr PURCHASE AGREEMENT 258. Mage 7 Date 11/11/12 259. Property located at --,_-• xdszo 7.3t:h place rr, Plymouth 260. ADDENDA AND PAGE NUMBERING. Attached addenda are a part of this Purchase Agreement. 261. Enter total number of pages of this Purchase Agreement, Including addenda, on line two (2) of page one (1). 262. NOTE, Disclosures and optional Arbitration Agreement are not part of this Purchase Agreement and should 263, not be part of the page numbering. 264. I, the owner of the property, accept this Purchase i agree to purchase the property for the price and on 265. Agreement and authorize the listing broker to withdraw the terms and conditions set forth above 266, said property from the market, unless instructed I have reviewed all pages of this Purchase 267. otherwise In writing. Agreement. 268. 1 have reviewed all pages of this Purchase Agreement. 269. If checked, this Purchase Agreement Is subject to 270. attached Counteroffer Addendum, 6271. x ---- rrl t -t-b x t 1 Seller's Signature) r(Date) (Buyer , nature) Da e) 272. X V r , U—) _ X James 1Krooak Seller's Printed Name) (Buyer's Printed Name) 273. X —_MC ir ` ( X Married -- Marital status) (Marital Status) 274. Selle 'sSignature} ' (male) (Buyer's Signature) (bate) 275. X L. I' n. -J1. 'l. t X _ Heidi Krocak -- Seller's Printed Name) (Buyer's Prinled Name) 276. X moscA X married Marital Status) (Marllal Stalua) 277. FINAL ACCEPTANCE DATE: fJ The Final Acceptance Data 27B. is the date on Which the fully executed PUfchasJ Agreement is delivered. 279. THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER(S) AND SELLER(S). 280. IFYOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL. 281, 1 ACKNOWLEDGE THAT I HAVE RECEIVED AND HAVE HAD THE OPPORTUNITYTO REVIEWTHE ARBITRATION 282. DISCLOSURE AND RESIDENTIAL REAL PROPERTY ARBITRATION AGREEMENT, WHICH IS AN OPTIONAL, 283. VOLUNTARY AGREEMENT AND IS NOT PART OF THIS PURCHASE AGRE=EMENT. 284. SELLER(S} _ I3uY>il {s} J es Krocak 285. SESLLEI(q_`-:'-- BUYER(S) MRPA-7 (10/12) lasfarla Page 72 WM___ KELLER WILLiAMS.q) C.I.ASSIC REALTY INN RTI- WEST FINANCING ADDENDUM CONVENTIONAL OR PRIVATELY INSURED CONVENTIONAL MORTGAGE This form approved by the Minnesota Associaiion of REALTORS°, which disclaims any Uability arising out of use or misuse of this form. 0 2011 Minnesota Association of REALTORS", Edina, MN 1. Date 11119./x.2 2. Page 3. Addendum to Purchase Agreement Between parties, dated November 11th , 29 12 , pertaining to the 4. purchase and sale of the property at 14610 13th Place 0 5. Plymouth, -MN 55447 ..... ,_. - 6. Financing will be a K FIRST MORTGAGE only FIRST MORTGAGE AND SUBORDINATE FINANCING. 4 ...................• --•---•-...............................•-----(Cheekone.).._...._---------------..--------------------. 7. Buyer shall apply for and secure, at Buyer's expense, a 8. Q CONVENTIONAL PRIVATELY INSURED CONVENTIONAL fixed First Mortgage fChack one.) ..................................... ....................... (e.g., fixed, ARM) 9, amortized monthly over a period of not more than 30 years, with an initial mortgage interest rate at 10. no more than - 10 - percent (%) per annum. 11, The mortgage application IS TO BE MADE WITHIN FIVE (5) BUSINESS DAYS after the Final Acceptance of this 12. Purchase Agreement. Buyer agrees to use best efforts to secure a commitment for such financing and to execute all 13, documents required to consummate said financing. 14. SELLER'S CONTRIBUTIONS TO BUYER'S COSTS: Seller 01S IS NOT contributing to Buyer's costs, If IS, see Check 15, attachedattached Seller's Contributions to Buyer's Costs Addendum, 16. FINANCING CONTINGENCY. This Purchase Agreement is contingent upon the following and applies to the first 17. mortgage and any subordinate flnancing. 18. (Check one.) 19. if Buyer cannot secure the financing specified in this Purchase Agreement, and this Purchase Agreement does not 20. close on the closing date specified, this Purchase Agreement is canceled. Buyer and Seller shall immediately 21, sign a Cancellation of Purchase Agreement confirming said cancellation and directing all earnest money to be 22. © REFUNDED TO BUYER FORFEITEDTO SELLER. w Chalk one.-.------I...................I 23. X] Buyer shall provide Seller, or licensee representing or assisting Seller, with the Written Statement, on 24. or before __ Decembez 12th , 2q 12 25. For purposes of this Contingency, "Written Staternent" means a Written Statement prepared by Buyer's mortgage 26. orlginator(s) or lender(s) after the Final Acceptance Date that Buyer is approved for the loan(s) specified in this 27. Purchase Agreement, including both the first mortgage and any subordinate financing, if any, and stating that an 28. appraisal, satisfactory to the lender(s), has been completed and stating conditions required by lender(s) to close 29. the loan. 30. Upon delivery of the Written Statement to Seller, or licensee representing or assisting Seller, the responsibility 31. for satisfying all conditions, except work orders, required by mortgage originator(s) or lander(s) ars deemed 32. accepted by Buyer. Upon delivery of the Written Statement, If this purchase Agreement does not close an the 33. stated closing date for ANY REASON relating to financing, other than Seller's failure to complete work orders to 34. the extent required by this Purchase Agreement, Including but not limited to Interest rata and discount points, if 35. any, Seller may, at Seller's option, declare this Purchase Agreement canceled, in which case this Purchase Agreement 36. le canceled. if Seller declares this Purchase Agreement canceled, Buyer and Seller small immediately sign a 37. Cancellation of Purchase Agreemenfconfirming said cancellation and directing all earnest money paid hereunder 38, to be forfeited to Seller as liquidated damages. In the alternative, Seller may seek all other remedies allowed by 39. law. 40. THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER(5) AND SELLER(S). 41. IFYOU DESIRE LEGAL ORTAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL. NiNTACM-1 (8111) lastal11 Page 73 FINANCING ADDENDUM CONVEN'T'IONAL OR PRIVATELY INSURED CONVENTIONAL MORTGAGE 42. Page 43. Property located at 1.4610 13th Place M Plymouth,,MN 55447 44. If the Written Statement is not provided by the date specified on line 24, Seller may, at Seller's option, declare this 45. Purchase Agreement canceled bywritten notice to Buyer at any time prior to Seller receiving the Written Statement, 46. in which case this Purchase Agreement is canceled. In the event Seller declares this Purchase Agreement canceled, 47. Buyer and Seller shall immediately sign a Cancellation of Purchase Agreementconfirming said cancellation and 48. directing all earnest money paid hereunder to be refunded to Buyer. 49. If the Written Statement is not provided, and Seller has not prevlously canceled this Purchase Agreement, this 50. Purchase Agreement is canceled as of the closing date specified In this Purchase Agreement. Buyer and Seller 51. shall immediately sign a Cancellation ofPurchase Agreementconfirming said cancellation and directing all earnest 52. money paid hereunder to be refunded to Buyer. 53. PRIVATE MORTGAGE INSURANCE (PMI): PMI may be required by the lending institutlon(s). Buyer agrees to pay 54, all subsequent years' mortgage insurance premiums as required by the lending institution(s). The said mortgage 55. Insurance premiums will increase the mortgage amount unless paid in cash at closing. 56. LOCKING OF MORTGAGE INTEREST RATE (RATE): The Rate shall be locked with the lenders) by Buyer 57, (check one): 58. 0 WITHIN FIVE (a) BUSINESS DAYS OF FINAL ACCEPTANCE OF THIS PURCHASE AGREEMENT; OR 59. n AT ANYTIME PRIOR TO CLOSING OR AS REQUIRED 13Y LENDER(S). 60. LENDER COMMITMENT WORK ORDERS: Nothing In this Purchase Agreement shall be construed as a 61. warranty that Seller shall make repairs required by the lender commitment. However, Seller agrees to pay up to 62. $ • 00 to make repairs as required by the lender commitment. If the lender commitment 63. is subject to any work orders for which the cast of making said repairs shall exceed this amount, Seller shall have the 64. following options: 65. (a) making the necessary repairs; or 66. (b) negotiating the cost of making said repairs with Buyer; or 67. (c) declaring this Purchase Agreement canceled, In which case this Purchase Agreement Is canceled. Buyer and Seller 68. shall immediately sign a Cancellation of PurchaseAcgreementconf€rming said cancellation and directing ail earnest 69. money paid hereunder to be refunded to Buyer, unless Buyer provides for payment of the cost of said repairs or 70. escrow amounts related thereto above the amount specified on line 62 of this Addendum. 71. OTHER: 72. none 73. 74, 75. 76. 77 Date) 5,. (Date) Set! r) (pate) wuyeo (pate) 79, THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER(S) AND SELLER(S). 80. IFYOU DESIRE LEGiAL. OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL. MN:FACM-2 (oil i) 10'state--n Page 74 ELLER WILLIAMIN,, CLASSIC RCALTY N HYri-i wt:sr SELLER'S CONTRIBUTIONS TO BUYER'S COSTS ADDENDUM This form approved bythe Minnesota Assoclation of REALTORS, which disclaims any liability arising out of use of misuse of this form. erg 2012 Minnesota Association of REALTORS®, Edina, MN 1. Date 2. Page 11/12 3, Addendum to Purchase Agreement between parties, dated November 11th 20 12 , pertaining to 4. the purchase and sale of the property at 14610 13th Place N 5. Plymouth 55447 , 6. Seller agrees to pay, at closing, up to (check one): 7. X $ 81000, or 8. percent (%) of the sale price; or 9. percent (%} of the mortgage amount 10. towards Buyer's closing fees, title service fees, title searches, title examinations, abstracting, lender's title insurance, 11. owner's title insurance, prepaid items, other Buyer's costs allowable by lender, if any, and/or mortgage discount points. 12. Any amount of Seller's contribution that exceeds Buyer's allowable costs, or which cannot be used because the Seller's 13. contribution exceeds the maximum Seller contribution allowed by law or by mortgage requirements, shall be retained 14. by the Seller. 15. I NOTE. The amount paid by Seller cannot exceed the maximum Seller contribution allowed by FHA, DVA or 16. lender. All funds paid by Seller on behalf of Buyer mAst be stated on the HUD -1 at closing. 2 17•G22 I S 2, Se er) Date) (Buyer] ( ate) 19. THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER(S) AND SELLER(S). 24. IF'YOU DESIRE LEGAL ORTAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL. MN:5C130A ('10112) lnsfazo Page 75 INSPECTION CONTINGENCY ADDENDUM WILLIAM., This form approved by the Minnesota Association of REALTORS°, fi ILLI+$ I', Jj ., which disclaims any tlabtilty arlsing out of use or misuse of this form. CLA. SiC.• RI-A(JY © 2012 Minnesota Assoclatlon of REALTORS°, Edina, MN 1,0RT1-NVLiT 1. Date 11 11/12 2. Page 3. THE PROPERTY, IF NOT NEW, CANNOT BE EXPECTED TO BE IN NEW CONDITION. 4. ROUTINE MAINTENANCE ITEMS ARE NOT PART OFTHIS ADDENDUM. 5. Addendum to Purchase Agreement between parties, dated No'vembei• 11th , 20 12 , pertaining 6. to the purchase and sale of the property at 14610 13th place N, PlLmouth 7. - 8. This Purchase Agreement is contingent upon a complate home Inspection(s) of the property to determine its condition. 9. Any and all inspections performed by Buyer shall constitute a complete home Inspection(s). 10. Any inspection(s) shall be done by an Inspector(s) of Buyer's choice. The Inspector(s) should be qualified to do the 11. inspection(s), as evidenced by a license or professional designation. Buyershal l satisfy Buyer as to the qualifications 12. of the Inspector(s). 13. Said inspection(s) shall be at Buyers sole expense. 14. Seller agrees to make the property reasonably available for said inspection(s). 15. Any inspection(s) or test(s) done by FHA, DVA or any other governmental unit shall be done and paid for In accordance 16. with the applicable regulations and are not part of this Inspection Contingency Addendum. 17. Buyer shall not have the right to do intrusive testing without the prior written authorization of Seller. 18. For purposes of this form, "Intrusive testing" shall mean any testing, inspections) or investigations) that changes the 19, property from its original condition or otherwise damages the property, 20. Seller DOES Q DOES NOT agree to allow Buyer to perform Intrusive testing or inspectlon(s). one -1------- 21, if answer is DOES, Buyer agrees that the property shall be returned to the same condition It was in prior to Buyer's 22. intrusive testing at Buyer's sole expense. 23. For the purposes of this Addendum, `Business Days" shall end at 11:59 p.m. and do not include Saturdays, 24. Sundays and state and federal holidays, 25. All inspection(s) shall be done within 4 Business Days of Final Acceptance of this Purchase Agreement. 26. Buyer shall have these options following Inspection(s): 27. (1) If Buyer, or licensee representing or assisting Buyer, Identifies any Issues pertaining to the property resulting 28. from the inspoction(s) and Intends to negotiate the identified issues with Seller, then Buyer, or licensee 29, representing or assisting Buyer, shall notify Seller, or licensee representing or assisting Seller, In writing, 30. describing the issues and proposed remedy, within z Business Days after expiration of the time 31. period specified on line 25. 32. If Buyer, or licensee representing or assisting Buyer, notifies Seller, or licensee representing or assisting 33. Seller, of the Identified issues and proposed remedy, and If within 2 Business Days after such 34. notice Buyer and Seller have not agreed in writing to a remedy of the Identified Issues, this Purchase Agreement 35. Is canceled without further notice required. Buyer and Seller shall immediately sign a Cancellaflon of 3S. Purchase Agreement confirming said cancellation and directing a[[ earnest money paid hereunder to be 37. refunded to Buyer, and thereafter neither party shall have any further [[ability to the other. 38. And/or; 39. (2) Notwithstanding any provision to the contrary or any notice given, Buyer may unilaterally waive any issues, 40. providing that Buyer, or licensee representing or assisting Buyer, notifies 991ler, or [icensse representing or 41. assisting Seller, of waiver in writing, within the time specified on fine 33. 42. And/or; MNAGA-1 (10112) 151Iqlall- Page 76 KELLER INSPECTION CONTINGENCY ADDENDUM WILLIAMS, 43. late CLASSEC REALITY ORTHWE iT 44. Page 45. Property located at 1463.0 1. th Place rr, Plymouth 46. (3) Notwithstanding any other provision of this Purchase Agreement, Buyer may, based on the Inspectlon(s), 47. declare this Purchase Agreement canceled by written notice to Seller, or licensee representing or assisting 48. Seller, within 1 Business Days after expiration of the time period specified an line 25, In which case 4.9. this Purchase Agreement Is canceled. 50. In the event Buyer declares this Purchase Agreement canceled, Buyer and Seller shall Immediately sign 51. a Cancellation of Purchase Agreement confirming said cancellation and directing all earnest money paid 52. hereunder to be refunded to Buyer. 53. If Buyerfails to have the lnspectlon(s) performed within the time specified in line 25, ordees not notify Seller, or licensee 54. representing or assisting Seller, of Buyer's decision within the time specified In lines 30 and 48, then this Contingency 55. shall be deemed removed and this Purchase Agreement shall be In full force and effect. 56. Seller, or licensee representing or assisting Sellar, 0 SHALL (] SHALL NOT have the right to continue to offer Chock..... -- 57. the property for sale until this Contingency is removed. serer) (Date) 5 ar) (Rate) Buyer) (Dale) A A'&j Qbt Ii2- Buyer) (Date) 60. THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER(S) AND SELLER(S). 61. IFYOU DESIRE LEGAL ORTAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL. MNACA-2 (10112) 1"At'arw Page 77 2. ARBITRATION DISCLOSURE 3. You have the right to choose whether to have any disputes about disclosure of material facts affecting the use 4. or enjoyment of the property that you are buying or selling declded by b€nding arbitration or by a court of law. By agreeing 5. to binding arbitration, you give up your right to go to court. By signing the RESIDENTIAL REAL PROPERTY 6. ARBITRATION AGREEME=NT (ARBITRATION AGREEMENT) on page two (2), you agree to binding arbitration under the 7. Residential Real property Arbitration System (Arbitration System) administered by National Center for Dispute Settlement S. (NODS) and endorsed by the Minnesota Association of REALTORS® (MNAR). The ARBITRATION AGREEMENT is 9, enforceable only If It Is signed by all buyers, sellers and licensees representing or assisting the buyers and the sellers. 10. The ARBITRATION AGREEMENT is not part of the Purchase Agreement. Your Purchase Agreement will still be 11. valid whether or not you sign the ARBITRATION AGREEMENT. 12. The Arbitration System is a private dispute resolution system offered as an alternative to the court system. It 13. is not government sponsored. NODS and the MNAR jointly adopt the rules that govern the Arbitration System. NODS 14. and the MNAR are not affiliated. Under the ARBITRATION AGREEMENT you must use the arbitration services of 15. NCDS. is. All disputes about or relating to disclosure of material facts affecting the use or enjoyment of the property, excluding 17, disputes related to title issues, are subject to arbitration under the ARBITRATION AGREEMENT. This includes claims 18. of fraud, misrepresentation, warranty and negligence. Nothing In this Agreement limits other rights you may have under 19. MN Statute 327A (statutory new home warranties) or under private contracts for warranty coverage. An agreement to 20. arbitrate does not prevent a party from contacting the Minnesota Department of Commerce, the state agency that 21. regulates the real estate profession, about licensee compliance with state law. 22. The administrative fee for the Arbitration System varies depending on the amount of the claim, but it is more 23. than initial court filing fees. In some cases, conciliation court Is cheaper than arbitration. The maximum claim allowed 24. In conciliation court is $10,000. This amount is subject to future change. In some cases, it is quicker and less expensive 25. to arbitrate disputes than to go to court, but the time to file your claim and pre -hearing discovery rights are limited. The 26. right to appeal an arbitrator's award is very limited compared to the right to appeal a court deds€on, 27. A request for arbitration must be filed within 24 months of the date of the closing on the property or 28, else the claim cannot be pursued. In some cases of fraud, a court or arbitrator may extend the 24 -month 29. limitation period providers herein. 30. A party who wants to arbitrate a dispute files a Demand, along with the appropriate administrative foe, with 31, NCDS.NCDS not1fiesthe othorparty, who mayfilea response. NODS works with the parties toselectand appointan arbitrator 32. to hear and decide the dispute. A three -arbitrator panel will be appointed instead of a single arbitrator at the request 33. of any party. The party requesting a panel must pay an additional fee. Arbitrators have backgrounds In law, real estate, 34. architecture, engineering, construction or other related fields. 35. Arbitration hearings are usually held at the home site. parties are notified about the hearing at least 14 days In 36. advance. A party may be represented by a lawyer at the hearing if he or she gives five (5) days advance notice to the 37. other party and to NODS. Each party may present evidence, including documents or testimony by witnesses.The arbitrator 66. must make any award within 30 days from the final hearing date. The award must be In writing and may provide any 39. remedy the arbitrator considers just and equitable that is within the scope of the parties' agreement. The arbitrator 40. does not have to make findings of fact that explain the reason for granting or denying an award. The arbitrator may 41. require the party who does not prevail to pay the administrative fee. 42. This Arbitration Disclosure provides only a general description of the Arbitration System and a general 43. overview of tho Arbitration System rules. For specific Information regarding the administrative fee, please see the 44. Foe Schedule located in the NODS Rules. Copies of the Arbitration System rules are available from NODS by calling 45. (888) 832-4792 or on the Web at wvvv/.ncdsusa.org or from your REALTOR°. if you have any questions about arbitration, 46. call NODS at (888) 832-4792 or consult a lawyer. MN:ADAAA-1 (10/12) Page 78 /" sfarx' FELLER, ARBITRATIO14 DiSCLOSURE AND WILLIAMSI, RESIDENTIAL. REAL PROPERTY ARBITRATION AGREEMENT CLASSIC' REALTY il lt'I I flS SST This form approved by the Minnesota Association of REALTORS°, which disclaims any liability arising out of use or misuse of this Form. 0 2012 Minnesota Association of REALTORS", Edina, MN 1. Page 1 2. ARBITRATION DISCLOSURE 3. You have the right to choose whether to have any disputes about disclosure of material facts affecting the use 4. or enjoyment of the property that you are buying or selling declded by b€nding arbitration or by a court of law. By agreeing 5. to binding arbitration, you give up your right to go to court. By signing the RESIDENTIAL REAL PROPERTY 6. ARBITRATION AGREEME=NT (ARBITRATION AGREEMENT) on page two (2), you agree to binding arbitration under the 7. Residential Real property Arbitration System (Arbitration System) administered by National Center for Dispute Settlement S. (NODS) and endorsed by the Minnesota Association of REALTORS® (MNAR). The ARBITRATION AGREEMENT is 9, enforceable only If It Is signed by all buyers, sellers and licensees representing or assisting the buyers and the sellers. 10. The ARBITRATION AGREEMENT is not part of the Purchase Agreement. Your Purchase Agreement will still be 11. valid whether or not you sign the ARBITRATION AGREEMENT. 12. The Arbitration System is a private dispute resolution system offered as an alternative to the court system. It 13. is not government sponsored. NODS and the MNAR jointly adopt the rules that govern the Arbitration System. NODS 14. and the MNAR are not affiliated. Under the ARBITRATION AGREEMENT you must use the arbitration services of 15. NCDS. is. All disputes about or relating to disclosure of material facts affecting the use or enjoyment of the property, excluding 17, disputes related to title issues, are subject to arbitration under the ARBITRATION AGREEMENT. This includes claims 18. of fraud, misrepresentation, warranty and negligence. Nothing In this Agreement limits other rights you may have under 19. MN Statute 327A (statutory new home warranties) or under private contracts for warranty coverage. An agreement to 20. arbitrate does not prevent a party from contacting the Minnesota Department of Commerce, the state agency that 21. regulates the real estate profession, about licensee compliance with state law. 22. The administrative fee for the Arbitration System varies depending on the amount of the claim, but it is more 23. than initial court filing fees. In some cases, conciliation court Is cheaper than arbitration. The maximum claim allowed 24. In conciliation court is $10,000. This amount is subject to future change. In some cases, it is quicker and less expensive 25. to arbitrate disputes than to go to court, but the time to file your claim and pre -hearing discovery rights are limited. The 26. right to appeal an arbitrator's award is very limited compared to the right to appeal a court deds€on, 27. A request for arbitration must be filed within 24 months of the date of the closing on the property or 28, else the claim cannot be pursued. In some cases of fraud, a court or arbitrator may extend the 24 -month 29. limitation period providers herein. 30. A party who wants to arbitrate a dispute files a Demand, along with the appropriate administrative foe, with 31, NCDS.NCDS not1fiesthe othorparty, who mayfilea response. NODS works with the parties toselectand appointan arbitrator 32. to hear and decide the dispute. A three -arbitrator panel will be appointed instead of a single arbitrator at the request 33. of any party. The party requesting a panel must pay an additional fee. Arbitrators have backgrounds In law, real estate, 34. architecture, engineering, construction or other related fields. 35. Arbitration hearings are usually held at the home site. parties are notified about the hearing at least 14 days In 36. advance. A party may be represented by a lawyer at the hearing if he or she gives five (5) days advance notice to the 37. other party and to NODS. Each party may present evidence, including documents or testimony by witnesses.The arbitrator 66. must make any award within 30 days from the final hearing date. The award must be In writing and may provide any 39. remedy the arbitrator considers just and equitable that is within the scope of the parties' agreement. The arbitrator 40. does not have to make findings of fact that explain the reason for granting or denying an award. The arbitrator may 41. require the party who does not prevail to pay the administrative fee. 42. This Arbitration Disclosure provides only a general description of the Arbitration System and a general 43. overview of tho Arbitration System rules. For specific Information regarding the administrative fee, please see the 44. Foe Schedule located in the NODS Rules. Copies of the Arbitration System rules are available from NODS by calling 45. (888) 832-4792 or on the Web at wvvv/.ncdsusa.org or from your REALTOR°. if you have any questions about arbitration, 46. call NODS at (888) 832-4792 or consult a lawyer. MN:ADAAA-1 (10/12) Page 78 /" sfarx' KELLER ARBITRATION DISCLOSURE AND WILLIAMS, RESIDENTIAL REAL PROPERTY CLASSIC REALTY ARBITRATION AGREEMENT NORTHWEST 47. Page 2 48. THIS IS AN OPTIONAL, VOLUNTARY AGREEMENT. 49. READTHE ARBITRATION DISCLOSURE ON PAGE ONE (1) IN FULL BEFORE SIGNING. 50. RESIDENTIAL REAL PROPERTY ARBITRATION AGREEMENT 51. For the property located at 14610 13th Place N 52. City of _ _ _ -- - Plymouth , County of Hennepin , State of Minnesota. 53. Any dispute between the undersigned parties, or any of 'them, about or relating to material facts affecting the use or 54. enjoyment of the property, excluding disputes related to title issues of the property covered by the Purchase Agreement 55. dated November 111:;h , 20 12 , including claims of fraud, misrepresentation, warranty and 56. negligence, shall be settled by binding arbitration. National Centerfor Dispute Settlement shall be the arbitration service 57. provider. The rules adopted by National Center for Dispute Settlement and the Minnesota Association of DEALTORSO 58. shall govern the proceeding(s). The rules that shall govern the proceeding(s) are those rules In effect at the time the 59. Demand for Arbitration is filed and Include the rules specified in the Arbitration Disclosure on page one (1). This 60. Agreement shall survive the delivery of the deed or contract for deed in the. -Purchase Agreemenf.This Agreement Is 61. only enforceable If all buyers, sellers and licensees representing or asal ing the buyers and sellers have agreed to 62. arbitrate as acknowledged by signatures below. For purposes of tl7ls Agreement, the signature of one licensee of a 63. broker shat€ bind the broker and all licensees of that broker.,---" 64. LAZ 11111(is/ sailor's signature) L)UL Date) (Sonatum) (nate) N65.James Krocak seller's Printed Name( A F (Buyer's Printed Name) 66. b 4 11/11/19 - Seller's 111 9 - Seller's slgnatu% (pate) (Buyer's Signature) (hate) 67. 8 -- Heidi Kxoaak ler's P iniad Nama) (Buyer's Printed Name) f7' Licen e - prestingor sststin Seiler) (Grata) (Llcen eo He eaenfing or Assisting Buyer} (pate) yna Murry Jason Kraemer 69. Keller Williams Premier Realt _ Keller Williams Classic Realty XW Company Name) (Company Name) 70, THE RESIDENTIAL REAL PROPERTY ARBITRATION AGREEMENT IS A LEGALLY BINDING CONTRACT 71. BETWEEN BUYERS, SELLERS AND LICENSEES. IF YOU DESIRE LEGAL ADVICE, CONSULT A LAWYER. MN:ADRAA-2 (10112) lhsfwlr Page 79 SELLER'S PROPERTY DISCLOSURE STATEMENT This form approved by the Minnesota Assoolatlon of REALTORS", whloh dleolaims any lability arlaing out of ues or misuse of thle form, 02014 MinnesotaMaGolatlon of REALMS®, Edina, MN 1, bate J0/0212012 2. Pago 1 of. r pages 3. THE INFORMATION DISCLOSED IS G1VENTOTHE NEST OF SELLER'S KNOWLEDGfr. 4. NOTICE: This Disclosure Statement sailsfles the disclosure requirements of MN Statutes 513.52 through 513.60. 5, Under Minnesota law, Sellers of residential property, with limited exceptions listed on page nine (9), are obligated to 6, disclose to prospective Buyers all material facts of which Seller is aware that could adversely and significantly affect 7. an ordinary Buyer's use or enjoyment of the property or any intended use of the property of which Seller Is aware. 8. MN Statute 513.58 requires Seller to noflfy Buyer In writing as soon as reasonably possible, but In any event 9, before closing, If Seller learns that Seller's disclosure was Inaccurate, Seller has disclosure alternatives allowed 10. by MN Statutes. See Sellers Ofsolosuro Afternaflvesform for further Information regarding disclosure alternatives. This 11. disclosure Is not a warranty or a guarantee of any kind by Sellar or licensee representing or assisting any party in the 12, transaotlon, 13. INSTRUCTIONSTO BUYER., Buyers are encouraged to thoroughly Inspect the property personally or have it Inspected 14. by a third party, and to Inquire about any specific areas of concern. NOTE. If Beller answers NO to any of the questions 18. Ilstod bolov, It does not necessarily mean that it does not exist on the property, NO may mean that Seller €5 unaware 19. that It exists on the property. 17. INSTRUCTIONS TO SELLER: (1) Complete this form yourself. (2) Consult prior disclosure statement(s) and/or Inspection roport(s) when completing this form. (3) [Describe conditions affecting the property to the best of your 19. knowledge. (4) Attach additional pages, with your algnature, If additional space Is required. (6) Answer all questions. 20. (6) if any items do not apply, write "NA" (not applicable), 21. Property located at 14e10 13th Plare N { 22. City of Plymauth , County of I-lennopin , State of Minnesota. 23. A. GENERAL INFORMATION: 24. (1) What date !" 1 ! ' did you [O AcqulrepBuild the home? Check one........_.._ 25, (2) Type of title evidence: E] Abstract RgReglatered (Torrons) 26. Looatlon of Abstract:, /uLd 27. To your knowledge, Is there an existing Owner's Titie Insurance Policy? Yes ^ ONO 28. (3) Have you 000uplod this home continuously for the past 12 months? 1yos C No 29, It"No"explain. 30, (4) Is the home suitable for year -.round use? 9Yes Q No 31. (6) To your knowledge, ls tho property located In a designated flood plain? a Yes JQ No 32. (6) Aro you In possession of prior seller's disclosure statement(s)? (if "Yes," please attach,) ® Yes 13 No 33. (7) is the property located on a public or a private road? P4 Public E3 Private 34, (8) For property abutting a lake, stream or river, does the property meet the minimum local government lot slze 36. requirements? Dyes 0 No ® Unknown 36, If "No" or "Unknown," Buyer should consult the local zoning authority. 37. , Are you aware of any 38. (9) encroachments? (Yes 01No 39. (10)association, covenants, historical registry, reservations or restliotions that affect or 4o, may affect the use or future resale of the property? mYss MfNo 41, (11)easements, otherthan utility ordrainage easements? ` , Yes ONO 42. (12)COmmente;.7 i C t f _4 e i ct t iG f GC V C_ E2 :- 7 w 43. ORIGINAL 08pYTO LISTING BROKEN; COPIES TO SELLER, BUYER, SELLING BROKER. NiN: WDS-i (0/11) 10728170-1215214 Page 80 SELLER'S PROPERTY DISCLOSURE STATEMENT 44, Page 2 45, THE INFORMATION DiSCI-OSED IS GIVENTOTHE BEST OF SELLER'S KNOWLEDGE. 46. ' Property located at 14614131h Place N Plymouth, MN, 66447 47, B. GENERAL CONDITION,. To your knowiedge, have any of th-o following conditions prevlouely existed or do they 4.8. currently exist? 49. (1) Has there been any damage by wind, fire, flood, hail or othor oausn(s)? Yes No Bo, If "Yos,' give details of what happened and when; -o,p,•l _ 51, 62. 53, 2) Have you ever had an insurance olalln(s) against your Homeowner's VfYes Ej64, Insurance Policy? No 55. If "Yes,' what was the olaim(s) for (e.g„ hall damage to roof)? 0 I—O o~F 66, Ij 57, 58, Did you receive compensation for the clalrn(s)? Mas No 59. If you reoelved compensation, did you have the Items rapeired? myes No 60, What dates did the clalm(s) occur? _, _ ;a 1U 7— vn t_ Id 61. 62. 3) (a) Has/Have, the struoture(s) been altered? 60, e.g,, additions, altered roof lines, changes to load-bearing wa198) 0 Yes M(No 64, If "Yes," pleaso specify what was done, when and by whom (owner or contractor): 66. 66. 67, b) Has any work boon performed on the property? (e.g., additions to the property, Iring, plumbing, 68, retaining wall, general finishing.) Yes No 69, If "Yes, please explaln: 7 rr' • t f it •, h 3 i e 71 70, 71, o) Are you aware of any work performed on the property for which 72: appropriate permits were not obtained? Meg WNo 73. If "Yes;' please explain: 74. 75, 4) Has there been any damage to flooring or floor oovering? Yes ONe 76. If "Yes, give details of what happened and when; 77. 78, 6) Are you aware of any insoot/animai/pest Infestation? ElYes No 79, if "Yes;' please explain: 80, 81. ORIGINAL COPY TO LISTING BROKER, COPIES TO SELLER, BUYER, SELLING BROKER, MN: SPDS-2 (8111) 1072817-0-1215214 Page 81 i SELLER'S PROPERTY DISCLOSURE STATEMENT 82, Page 3 83. THE 1INFORMATION DISCLOSED IS GlVENTOTHR BEST OF SELLER'S KNOWLE€ OE. 84. Property located at.14$10i%h Plaon N Alymou€h, MN, 55447 85. (6) Do you have or have you previously had any pets? %Yes NO 86, If "Yes;' indicate type _ hn (LSy0_ G0_4 _ And number, 87. 7) Co€mMonts' 0€n Vv d=A v\ A- 10 YrC1.oe5 € 14-t SRC)- i -4\-L--6 88. b E -d Y—[r{ v1 61-- b A'S C wt, -e. vv+ ( L& P P -e. v^ 4- 16w -eaim 89, i 90. C. STRUCTURAL SYSTEMS: To your knowledge, have any of the following conditions prevlously existed or do they 91, currently exlet? 92. ANSWERS APPLY TO ALL STRUCTURES, SUCH AS GARAGE AND OUTBUILDINGS,) 93. 1) THE BASEMENT, C1 AWLSPACE, SLAB: 94. a) cracked floor/walls ®Yes No (e) leakage/seepage Yes JZ No 95, b) drain the problem Yes No (f) sewer backup 3Yes e•No 96. c) flooding mYes Ig No (g) wet floors/walls t3Yes Z No 97. d) foundation problem E] Yes MNo (h) other 13Yes Ef No 98, Olve details to any quastlons answered' Yes'; 99. 104. 141, 10Z 103. 104, 105, 2) THE ROOF: To your knowledge, 106. a) what Is the age of the roofing materlal? ti years 107. b) has there been any Interior or exterior damage? Yes No 108. c) has there been Interior damage from Ice buildup? QYes gNo 109. d) has there been any leakage? E3Yas P No 110. a) have there been any repairs or replacements made to the roof? lKYes Ej No 111. Give details to any questions answered "Yoe": N6 U , 1007 e vk:1 . 112. lrp C-trc. •. — l[.. i l C. A r..cJ , 114. 115• 116, 117. 118. ORIOINAL COPY TO LISTING BROKER; COPIES TO SELLER, BUYER, SELLING BROKER, MN: SPA8-3 (B111) 1072817-0-1215214 Page 82 SELLER'S PROPERTY DISCLOSURE STATEMENT 119. Fags 4 120, THE INFORMATION DISCLOSED IS GIVEN TO THE HEST OF SELLER'S IWOWLEDGE, 1211. Property located at 14610131h wtaoe N Plymouth, MN. 56447 122, D. APPLIANCES, HEATING, PLUMBING, ELECTRICAL AND OTHER MECHANICAL SYSTEMS: - 123, NOTE; This sectlon refers only to the working oonditlon of the following Items, Answers apply to all such 124, Items unless otherwise noted In comments below, Personal property is Included In the sale ONLY IF 125. Wa aaic r"fere cad In the Purchase Agreement. i 126 Crass out: only those Items not physically located on the property. 127, In Worms- dar In Working Order In Working Order 128. Yes No Yes No Yes No 129. Air-condltloning ................... Hoaiing systam (central)....,...... R;fish-Gampaatar................. 130. p'-;'Centrai [j Wall JOWindow laaatlncd-arra (supplemental)..j T/ antenna systsna.:.::.,,.,.jj 131. rAla:-axohange-sya#em... ........ TV cable system ........... 132. M Interoom................. TFA!-Weifftt-d # ............El J 133. Calling fan .........................:. Lawns ir klet stent ......,,.......© Dented ® Owned 134, Dlshwashar ...................... 0 Mlorowavo.:.............................. 135. Doorbell .............................: E3 Plumbing..................................FM a 0 Rented In Owned 1-36. Drain tile system ................JM 3 Ij Fa Washer ......................... 1137. Dryer...................................Mj a larepane-T-ank ...........,........,......,f r] Water heater ................ 138. Electrical system ................. F0 3 Rented E3Owned Water softener .............F0 d 139. Exhaust system ................,. 0 Range/oven............................... Ej Rented Kbwned i 144. Fitesp ig{kler-Oyster ] ....,.....13 EJ Premge-l=d ............................. mte ,' ff"e*ayatarn 141. Fireplace ............................. fiefrigerator ............................... Rented [j Owned 142, a•.........(® 80(curity-syst rrs ......................... I Windows ....................... 143. Furnace hLlmlditier ..............W Rented © Owned Window treatments ...... 144. X-maxes.................................M E3 battery) .......... a Waod-bwrft-steve ,....M 0 145. Garage door opener (CDO) Smoke detectors (hardwlred)..... M 0 Other. 5D. -6-b El 146. Garage auto reverse ........... Q-Q- Other E3 147. QDO remote ........................ Jqum,p.pu.mp--,, .Q= her.,El 148. Garbage disposal ................ Toilet mechanisms...................... Other, 149. Comments: 150. 151. E. SUBSURFACE SEWAGETREIATMENT SYSTEM DISCLOSURE., 1152. (A subsurfaoa sewage treatment system disclosure Is required by MN Statute 115,55.) (Chockapproprfate box.) 153. Seller oertlfles that Soiler rj .DOGS (ROES NOT know of a subsurface sewage treatment system on or servingCt1eotnn 1.............. 154. the above-descrlbed real property. (If answer Is DOES, and the system does not require a state permit, spa 155. Subsurface Sewage Treatment System Visclosuro Statement.) 156, Ej There is a subsurface sewage treatment system on or serving the abovo-descrlbed real property. 157, (See Subsurface Sewage Treatment System Dlscfasuro Statement,) 159. There is an abandoned subsurface sewage treatment system on the above-described real property. 159. (See Subsurface Sewage Treatment System Dfsclosure Statemont) 1160, ORIGINAL COPYTO LISTING BROKER; COPIES TO SELLER, BUYER, SELLING BROKER. MN; SPCDs-4 (8117) 1072817-01215214 Page 83 SELLER'S PROPERTY DISCLOSURE STATEMENT 161. Page 5 162, THE INFORMATION DISCLOSED IS GIVEN TO THE BEST Of SELLER'S KNOWLEDGE, 163. Property located at 14610 13th Pltma N Plymouth, MN, $6447 164. F. PRIVATE, WILL DISCLOSURE. (A well disclosure and CertiflGate are rOCIuired by MN Statute 1081.230.) 165. (Cheok appropriate box.) 166, Seller certifies that Seller does not know of any wells on the above-descrlbed real property. 167, Seller certifies there are one or more wells located on the ahovo desorlbed real property. 168. (see Well Disclosure statement.) 169. Are there any wells serving the above-described property that are not located on the 174, property? [(Yes W`No 171, To your knowledge, is this property In a Special Well Construction Area? a Yes ONO 172. G. PROPERTYTAXTREATMENT: 173. Valuatlon Iixoloslon Diselosure (Required by MN Statute 273.11, Subd. 16.) 174. (Cheolc appropriate box.) 175, There Ej IS ( ' IS NOT an exclusion from market value for home Improvements on thls property. Any CHs ona,}•••-•••-- 176, valuation exclusion shall terminate upon sale of the property, and the property's estimated market value for 177. property tax purposes shall Inorease, if a valuation exclusion exists, Buyers aro encouraged to look Into the 178. resulting tax consequences. 179. Additional comments; -- 180. 181. 182, Preferential ProMrtv-7bx`Creatment 183. Is the property sub] eotto any preferentlal property tax status or any other crecilts affeoting tha property? 184. (e.g., Dlsablllty, Green Acres, ORP, RIM, Rural Preserve) )]Yes No 185. If "Yes;' would these terminate upon the stale of the property? jjYos ® No I86. Explain; 187. 188, 189. H. Ir11l-THAMPHETAMINE PRODUCTION DISCLOSURE: 190. (A Methamphotam[ne Production Disclosure Is required by MN Statute 152,0275, Subd. 2 (m).) 191. seller is not aware of any methamphetamine production that has occurred on the property, 192. Seller Is aware that methamphetamine production has 000urrod on the property. 193. (Soo Mothamphotamlrre Production Disclosure Statement,) 194, I. NOTICE REGARDING AIRPORT ZONING REGULATIONS. The property may be In or near an airport safety 195. zone with zoning regulations adopted bythe governing body that may affect the property. Such zoning regulatlons 196. are flied with the county recorder In each county where the zoned area Is located. If you would like to determine 197. If such zoning regulations affect the property, you should contact the county recorder where the zoned area Is 198. located. 199. J. NOTICE REGARDING CARBON MONOXIDE DETECTORS: MN Statute 29917,51 requires Carbon Monoxide 200. Detectors to be located within ten (10) foot from all sleeping rooms, Carbon Monoxide Doteotom may or may not 201. be personal property and may or may not be Included In the sale of the home. 202. ORIGINAL COPYTO LISTING BROKE=R; COPIESTO SELLER, RUYVN, SELLING 13ROKER. MN!SPD,9-5 (0111) 1072817-0-12162,14 Page 84 SELLER'S PROPERTY DISCLOSURE STATEMENT 203, Page 6 201, THE INFORMATION DISCLOSED IS OIVI=N TO THE BEST OF SELLER'$ KNOWLEDGE. 2051. Property located at 14610 I'M Place N P]VhloUth, MN, 68447 206. K. CEMETERY ACT, 207. MN Statute 307.06 prohibits any damage orlllegal molestation of human remains, burials or cematerles. A person 208. who Intentionally, willfully and knowingly destroys, mutilates, Injures, disturbs or ramoves human skeletal remains 209. or human burl at grounds Is gullty of a felony. 210. To your knawledgo, are you aware of any human remains, burlals or cemeterles located 211, on the property? [Yes 11NO 212. if "Yes;' please explain: T 213. 214. All unldontlflod human remains or burials found outside of platted, raoorded or Identified cemeteries and In 215, contexts which indicate antiquity greater than 50 years shall be dealt with according to the provisions of MN 216. Statute 307.08, 5ubd. 7. 217, L. ENVIRONMENTAL CONCERNS: 218. To your knowledge, have any of the following environmental conoerns previously existed or do they currently oxlst 219. on the property? 220. Asbestos? 0Yes No Mold? QYes 19No 221. Diseased trees? ZYes No Radon? 3Yes ONO 222. Formaldehyde? MYes No Soil problems? IYes MNo 223. Hazardous wasteslsubstanoes? [a Yes n No Underground storage tanks? Yos P@'No 224. Lead? (e.g., palnt, plumbing) [J Yes RNo Other? 3Yes 14 No 225. Areyou aware if there are currently, or have previously been, anyorders issued on the property by any governmental 226. authority ordering the remediatlon of a public health nuisance on the property? LlYes No 227. If answer above Is "Yos;' seller certifies that all orders WXVE 13 HAVE NOT been vacated. Chook ot?e.)............... 228. Give dotnilS to any question answered "Yes": -rWP Am r- I e- A 229, 280. 231. M. OTHER DE,FEGTSIMATERIAL FACTS: 232. Are you aware of any other material faots that could adversely and significantly affect an ordinary buyer's use or 233, enjoyment of the property or any Intended use of the property? ©Yos WHO 234, If "Yes," explain below,..- _-- 234. 236, 237, 238, N. ADDITIONAL COMMENTS: 239. 240. 241. 242. ORIGINAL COPY TO LISTING BROKER; COPIES TO SELLER, BUYER, SELLING BROKER. MN: sPDS-(3 (Pi)i 1) 1072817-0-1216214 Page 85 SELLER'S PROPERTY DISCLOSURE STATEMENT 243, Page 7 244. THE INFORMATION DISCLOSED IS GIVEN TO THE HIST OF S'ELLER'S KNOWLEDGE. 245, Proporty located at.i461013lh Place N Plymouth, MN, 06447 246, O. WATER INTRUSION AND MOLES QROWTH. Recent studies have shown that various forms of water Intrusion 247, affect many homes, Water Intrusion may occur from exterior molsture.entering the home and/or Interior moisture 248, leaving the home, 240. Examples of exterior moisture sourcos may be 250, + Improper flashing around windows and doors, 251. + Improper grading, 252. + flooding, 258. + roof leaks. 254. Examples of interior molsture aeurces may be 255. + plumbing leaks, 261a. condensallon (caused by Indoor humidity that is too high or surfaces that are too cold), 257. • overflow from tubs, sinks or tollets, 268, firewood stored Indoors, 269. • humldlfler use, 260. + Inadequate vent€ng of kitohen and bath humidity, 261. + Improper venting of olothes dryor exhaust outdoors (Including eleetrleai dryers), 262. llne-drying laundry Indoors, 263. + houseplants --watering them can generate large amounts of moisture, 264. In addition to the possible structural damage water Intrusion may do to the property, water Intrusion may also result 265. In the growth of mold, mildew and other fungl. Mold growth may also cause structural damage to the property. 266, Therofore, It Is very Important to dotcot and remodlate water intrusion problems, 267. Fungi are present everywhere In our environment, both indoors and outdoors, Many molds are beneficial to 268. humans. However, molds have the ability to produce myootoxins that may have a potential to oauso aorlous health 269. problems, particularly In somo Immunocompromised Individuals and people who have asthma or allergies to 270. mold, 271, To complloate matiers, mold growth is often difficult to detect, as It frequently grows within the wall structure. Lf you 272. have aoonoernaboutwater Intrusion orther'esultingmoldlmildew!#ung]growth, you maywantto consider having the 273. property Inspected for moisture problems before entering Into a purchase agreement or as a condition of your 274. purohr-aso agreement. Such an analysis Is particularly advisable If you observe stalNng or musty odors on the 275, property. 276. For additional informatlon about wator Intrusion, Indoor air quality, moisture or mold Issues, go to the Minnesota 277, Association of REALTORSO web site at www.mnrealtor.com, 278. ORIGINAL COPYTO LISTING BROKER; COPIES TO SELL -ER, BUYER, SELLING BROKER. MNr BPDs -7 (8/1 i ) 1072817-0-1215214 Page 86 339, Waiver 340. The written disclosure required under sections 513,52 to 513.60 may be waived If Sailer and the prospective Buyer 341, agree in writing. Waiver of the disclosuro roclul red under sections 513.52 to 513,30 does not waive, limit or abridge 342, any obligation for seller disclosure created by any other law. 343. No Duty to Disclose 344. A. There Is no duty to disclose the fact that the property 345. (1) Is or was occupied by an owner or occupant who Is or was suspected to be Infected with Human 346, Immunodeficlenoy Virus or diagnosed with Acquired Immunodefiolency Syndrome; 347. (2) was the site of a suicide, accidental death, natural death or perceived paranormal activity; or 348. (3) Is located In a neighborhood containing any adult family home, community-based residential facility or nursing 349. homo, 350. B. predatory Offonders. There Is no duty to disclose Information rngarding an offender who Is requlrod to register 351. under MN Statute 243,166 or about whom notification 1s made under that section, If Seiler, In a timely manner, 352, provides a written notice that Information about the predatory offender registry and persons registered with the 353, registry may be obtained by contacting the local law enforcement agency where the property is located or the 354. Department of Corrsotlons. 355. G. The provisions In paragraphs A and B do net create a duty to d€601090 any facts described In paragraphs A and B 356. for property that Is not residential property. 357. D. Inspections. 358, (1) Except as provided In paragraph (11), Seiler is not required to disclose Information relating to the real property 359. If a written report that discloses the Information has been prepared by a qualified third party and provided to 860. the prospective buyer, For purposes of this paragraph, "qualified third party" means a federal, state or local 1961. governmental agenoy, or any person whom Seller or prospective buyer reasonably behaves has the expertise 862, necessary to meet the Industry standards of praotice for the typo of inspection or Investigation that has boon 363. conducted by the third party In order to prepare the written report. 364, (11) seller shall disclose to the prospectivo buyer material facts known by Seller that contradict any information 865. Included In a written report under paragraph (1) If a copy of the report Is provided to Soifer. 366. ORIGINAL, COPYTO LISTING BROKER; COPIES TO SELLER, BUYER, SELLING BBOKEIR. MKSPOS-9 (8111) 1 07281 7-0-1 21 5214 Page 87 SELLER'S PROPE=RTY DISCLOSURE STATEMENT 318, Page J 319, THE INFORMATION DISCLOSED 13 GIVENTO THE BEST OF SELLER'S KNOWLEDGE, 320. Property located at 114610 78th Plana N Plymouth, MN, 65447 321, 19x0ept o 322. The seller disclosure requirements of MN Statutes 513,52 through 513.60 DO NOS apply to 323. 1) real property that Is not residential reat property; 324, 2) a gratuitous transfer; 325. a) a transfer pursuant to a court order; 326. 4) a transfer to a government or governmental agency; 327. 5) a transfer by foreclosure or dead In lieu of foreclosure; 328. 6) a transfer to heirs or devisees of a decedent; 329. 7) a transfer from a cotenant to one or more other cotenants; 330. S) a transfer made to a spouse, parent, grandparent, child or grandchild of Sailor; 331. 9) a transfer between spouses resulting from a decree of marriage dissolution or from a property agreement 332. Incidental to that decree; 333. 10) a transfer of newly constructed residential property that has not been Inhablled; 334. 11) an option to purchase r3 unit In a common Interest community, until exercised; 335. 12) a transfer to a person who controls or Is controlled by the grantor as those terms are dsf[nod with respect 338, to a deolarant under section 6158.1 -103, clause (2); 337. 13) a transfer to a tenant who Is In possession of the residential real property; or 338. 14) a transfer of special declarant rights under section 51513.3.104, 339, Waiver 340. The written disclosure required under sections 513,52 to 513.60 may be waived If Sailer and the prospective Buyer 341, agree in writing. Waiver of the disclosuro roclul red under sections 513.52 to 513,30 does not waive, limit or abridge 342, any obligation for seller disclosure created by any other law. 343. No Duty to Disclose 344. A. There Is no duty to disclose the fact that the property 345. (1) Is or was occupied by an owner or occupant who Is or was suspected to be Infected with Human 346, Immunodeficlenoy Virus or diagnosed with Acquired Immunodefiolency Syndrome; 347. (2) was the site of a suicide, accidental death, natural death or perceived paranormal activity; or 348. (3) Is located In a neighborhood containing any adult family home, community-based residential facility or nursing 349. homo, 350. B. predatory Offonders. There Is no duty to disclose Information rngarding an offender who Is requlrod to register 351. under MN Statute 243,166 or about whom notification 1s made under that section, If Seiler, In a timely manner, 352, provides a written notice that Information about the predatory offender registry and persons registered with the 353, registry may be obtained by contacting the local law enforcement agency where the property is located or the 354. Department of Corrsotlons. 355. G. The provisions In paragraphs A and B do net create a duty to d€601090 any facts described In paragraphs A and B 356. for property that Is not residential property. 357. D. Inspections. 358, (1) Except as provided In paragraph (11), Seiler is not required to disclose Information relating to the real property 359. If a written report that discloses the Information has been prepared by a qualified third party and provided to 860. the prospective buyer, For purposes of this paragraph, "qualified third party" means a federal, state or local 1961. governmental agenoy, or any person whom Seller or prospective buyer reasonably behaves has the expertise 862, necessary to meet the Industry standards of praotice for the typo of inspection or Investigation that has boon 363. conducted by the third party In order to prepare the written report. 364, (11) seller shall disclose to the prospectivo buyer material facts known by Seller that contradict any information 865. Included In a written report under paragraph (1) If a copy of the report Is provided to Soifer. 366. ORIGINAL, COPYTO LISTING BROKER; COPIES TO SELLER, BUYER, SELLING BBOKEIR. MKSPOS-9 (8111) 1 07281 7-0-1 21 5214 Page 87 SELLER'S PROPERTY DISCLOSURE STATEMENT 279. Page 8 280. THE INFORMATION DISCLOSED IS GIVEN TO THE BEST OF SELLER'S KNOWLEDGE. 281, Property located at 14610 13th Plaoe N Plymoutts, M14,66447 282, P. NOTICE REGARDING PREDATORY OrF5NDER INFORMATION: Information regarding the predatory 253, offender registry and persons registered with the predatory offender registry under MN Statue 243,106 284. may be obtained by contacting the local law enforcement offices In the community where the property 285, is located or the Minnesota Department of Gorrectlons at (651) 361-7200, or from the Deportment of 286. Corrections web site at www.cornstate.ran,us. 287, LISTING BROKER AND LICUNSEES MAKE NO REPRESENTATIONS AND A13E 288, NOT RESPONSIBLE FOR ANY CONDITIONS EXISTING ON THE PROPERTY 289, Q, SELLER'S STATEMENT: 290, (To be signed at flme ofllstingj 291. Sellars) hereby states the material facts as stated above aro true and accurate and aulhorizes any Ilconsee(s) 292, representing or assisting any party(les) In this transaction to provide a copy of this Disolnsure to any person or 293, entity In connection with any actual or antlo[pated sale of the property. 294.' 9 or Data)(8ells } (Dale) 295. R. BUYER'S ACKNOWL[-DGEMENT: 296. (To be slgnod at time ofpurchase agreement.) 297. 11ft the Buyer(s) of the property, acknowledge receipt of this Seller's Property Disclosure Statement and agree 298, that no representations regarding material facts have been matte other than thoso made above, 299. 1 ( " Huy r) V (Dale) 300. S. SELLER'S ACKNOWLEDGMENT: 301. (To be signed at time ofpurchase agreement.) 302. AS OF TIJE DATE BELOW, [two, the Saller(s) of the property, state that the materlal facts stated above are the 303. same, except for changes as Indicated below, which have been sighed and dated. 304. S05. 306. 307. 308. 10Coa 7e' Gje et e. lint cJa ve- y 19ePrAl 2 G " /?-- 309, Sql ar DatB q fir . flip} 310. Fbr purpasas of the sailer dlsolostlro requirements of MN Statutes 513,52 through 513,60; 311, "Residential real property" or "residential real estate" means property occupied as, or Intended to be eocupled as, a 312, single-family roeldonce, including a unix In a common interest oommunity as defined In MN Statute -615W-'103, clause 313. (10), regardless of whether the unit is In a common Interest community not aubJeot to chapter 51513. 314. The seller dlscioaur© requirements of MN Statutes 513.52 through 513.60 apply to the transfer of any Interest In 815. residential real estate, whether by sale, oxohange, deed, contract for deed, lease with an option to purchase or any 316. other option. 017. ORIGINAL COPY TO LISTING BROKER, COPIES TO SELLUR, BUYER, SELLING BROKER, MRSWbS•s (811t ) 1072817-0-12'15214 Page 88 KELLER Personal Property AgreementWILLIAMS 1. Date 2. Page of 3. INCONSIDERATION OF THE PAYMENT OF ONE DOLLAR ($1.00) AND OTHER GOOD 4. AND VALUABLE CONSIDERATION, 6. receipt of which Is hereby acknowledged, _13 rA El rda lad)QL0 6. (seller(s) name) in the County of Hennepin (seller county), State of Minnesota, 7. hereby agree to sell and convey to James & Heidi Kroaak (buyer(s) names) the 8, following described Goods, Chattels and Personal Property. 9. All kitchen appliances including the microwave, oven, 10. refrigerator, dishwasher and the cooktop 11.All window coverings and treatments 12.Clothes washer and dryer 13. All bathroom mirrors 14. 15. All keys and garage door openers 16. All items are to be the Items viewed on 11-11-2012 17. 18. 19. 20. The sale and conveyance of the above Personal Property Is subject to the successful 21. closing of the Purchase Agreement between the parties dated 11/11/12 (PA date) 22, pertaining to the purchase of the property a# 9 h Nsle, 61 (property address) 23. In the event the sale of the above described property does not close, this agreement is 24. null and void, with the parties having no further obligation to perform any terms of 25, this agreement. 26. Seller hereby covenants and warrants that he is the lawful owner of said Personal Property 27. and that said Personal Property will be free and clear from all encumbrances at the time of sale. 28. It is understood the Buyer accepts the property "as is". Upon the successful closing of the real 29. estate sale of the above referenced property, the seller will deliver a Bill of Sale to the Buyer for 30. the above Personal Property. Seller) (Date) (15aorKN ( ate) 32. -- - =' -- ,.. f] a e 1111 I. / I Sel r} Date) (Buyer) (D te)) 33: THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYERS AND SELLERS. 34. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFFESSIONAL, Revised 10109 , ps aux Page 89 HOMES31 Phone, 661-748.370611Fax: 661-766.8201 2127 County Road D East Suite C-700, Maplewood, MN 55108 Re: Loan Approval Notification for Heidi and James Krocak November 13, 2012, To Whom It May Concern: The above listed borrowers) have met with our representatives for the purchase of a property at 14610 13th Place N, Plymouth, MN 55447. Based upon the information we requested and were provided concerning employment, income, assets, liabilities, and source of funds for• closing; the borrower(s) are pre -approved for a 30 year fixed mortgage. Pro -approval good for 90 days Purchase price TBD 5.00% down payment required Approval is contingent on the close ofyour current home at 3133 Oregon Avenue S. The pre -approval is subject to the receipt of, but not limited to: valid purchase agreement, acceptable appraisal, title insurance, and final review/decision by an underwriter, The above determination is subject to all secondary market requirements, no substantial changes regarding income, credit, or source of funds before the closing ofthe loan. . Please be aware that any significant changes to income, debt, assets, or credit prior to closing would alter or orange this pre -approval. All files are subject to pre-closing audits. We understand that financing your home is one of the most important decisions you make inn your lifetime. Homes Mortgage would like to make your experience as delightful as the time you will spend in your new home. Please feel free to call its if you have any questions on the terms and conditions ofthis approval. Thank you for your immediate attention. Sincerely, John Rochrich Mortgage Planner Note: This is not an agreement for a specific interest rate or number of discount points. Current interest rates and discount points are subject to change at any time without notice. This is not a loan commitment. Per Minnesota Stat. 58.13 Subd.l(12) "final qualification or approval is not guaranteed" and that approval "may be subject to additional review". Page 90 KELLER WILL:A+ . t:S.AtiylC' MALTY EARNEST MONEY RECEIPT This form approved ay the Minnesota Assoolation of REALTORS. which disclaims any liability wising out of use or mlsuse of this form. m 2012 Minnesota Assodatlon of REALTORSi, Edina, MN N(A> flWEST 1. Date 11/11J12 2. Time 3. Buyers licensee representing or assisting Buyer represents that he/she has in his/her possession earnest money In 4, the amount of $ 4,00a.00 _ __ , check numberZ 5. related to the property located at 6. 14610 13th Placa Street) 7. city) 40 55447 8. Buyer's licensee representing or assisting Buyer will promptly deliver the earnest money to be deposited upon final 9. acceptance of the Purchase Agreement by all parties, on or before the third Business Day after Final Acceptance, In 10. the trust account of listing broker, unless otherwise agreed to'fn writing, but to be returned to Buyer if Purchase 11. Agreement is nQt accepted by Seller. 12. Buyer and Licensee Representing or Assisting Buyer Information: 13. James & Heidi Kroeak Buyer's Name(s)) 14.. Buyer's Licensee Fie esenttng or Absisting Buyer) MN:EMH (10/12) Page 91 /" Afa`k 9611,1 WARRANTY DEED Form No. I -M Minnesota Uniform Individuals to Individuals (Top 3 Inches Reserved for RecordingData} O _ O Conveyancing Slacks (6117197) DEED TAX DUE. $ 'p Total consideration is less than Date: 12114112 FOR VALUABLE CONSIDERATION, ,john R. Zachowand Linda M. Zachow huRhnnd pBd M(Ife Grantor, hereby convoys and warrants to James T. Krocak and Heidi M. Krocak _ Grantee, real property in Henneoin _- County, Minnesota, described as follows: Lot 11, Block 2, Parkers Lake Farm Second Addition, Hennepin County, Minnesota Iff-aa-V t-ao together with all hereditaments and appurtenances belonging thereto, subject to the following exceptions: Check box if applicable: The Seller certifies that the Seller does not know of any wells on the described real property. A well disclosure certificate accompanies this document. I am familiar with the property described in this instrument and I certify that the status and number of wells on the described real property have not changed since the last previously filed well disclosure certificate. John R Zachow Affix Deed Tax Stamp Here STATE OF MINNESOTA COUNTY OF—HENNEPIN ss b7 Lir n M. Zachow This instrument was acknowledged before me December 14. 2411 Dale) by John R. Zachow and Linda M. Zachow husband and wife kL STAMP OR SEAL (OR OTHER TITLE Of DENA L. REMOND-HASZ NOTARY PUBLIC - MINNESOTA MY COMMISSIONE1tPSRES JANUARY Si, 2015 THIS INSTRUMENT WAS DRAFTED BYNAME & ADDRESS): All American Title Co., Inc. 7365 Kirkwood Court North, Suite 325 Maple Grove, MN 55369 763)416-2645 SIGNATURE OF NOTARY PU tC OA OTHEROFFICIAL. Check here if alt orpart ofthe land is Rcgistcred (Tarrens) IX U Tax statements for the real property described in this instrument should be sent to (include name and address of Grantee): James T. Krocak and Heidi M. Krocak 14610 13th Place North Plymouth, MN 55447 euIU4- 114M All American Title Company 8338 Highway 65 NE, Ste C Spring Lake Park, MN 55432 111 ,,')Iq)l LPage 92 a) q' - 04 Page 93 APPRAISAL REPORT OF W Z 6_ S 14610 13th PI N Plymouth, MN 55447 PREPARED FOR LSI Appraisal, LLC Flagstar Bank 5151 Corporate Drive Troy, MI 48098 AS OF 11/19/2012 PREPARED BY Minnesota Metro Appraisals 210 Cherrywood Avenue NW St. Michael, MN 55376 Page 93 Minnesota Metro Appraisals File No. 15519449 11141207 Case No. Uniform Residential Anoraisal Reoort The Durnose of this summary appraisal report is to provide the lenderlclientwith an accurate and adequately supported, opinion of the marketvalue of the sub'eci property. PropertyAddress 14610 13th PI N city Plymouth State MN Zi Code 55447 Borrower James Krocak Owner of Public Record John & Linda Zachow County Hennepin Legal Description Lot 011 Block 002 Parkers Lake Farm 2nd Addn Assessor's Parcel# 2811822440069 Tax Year 2011 R.E. Taxes $ 4,552 Neighborhood Name Plymouth Ma Reference 104-E1 CensusTracl 0286.09 Occupant I X I Owner I I Tenant 17 Vacant Special ssessmenis $ 0 PUD HOAS 0 F1 Per year FIparmonth Pro Ri his A raised FXI Fee Simple I I Leasehold n Other describe Assimimenffvpe I X I Purchase Transaction Refinance Transaction I I Other describe Lender/Client Fla star Bank Address 5151 Corporate Drive, Troy, MI 48098 Isthesub'ect property curranily offered forsale orbas itbeen offered forsale in the twelve monlhs priorto the effective date ofthis appraisal -2 IXI Yes I I No Re rtdatasources used offe6n rices and dates . DOM 32•Sub'ect property was offered for sale -;Original Price $430,000; Original Date 10/18120120 NSMLS & County Records 4311050 l 0did F I did not analyze the contract for sale for the subject purchase transaction. Explain theresults of the analysis ofthecontract forsale orwhythe analysis was not performed. Arms length sale;The appraiser received a sales contract with a sellers signature date of 1 111 21201 2 and a buyers signature date of 111/11/2012. The contract included 14 pages. ConlraclPdces 422.000 OateofContract 1 1/1 11201 2 Isthe property seller the owner ofpublicrecord? 77yes No Data Sources County Records Isthere any financial assistance (loan charges, sale concessions, giftor downpaymentassistance, etc.) to be paid by any party onbehalfof the borrower? X Yes LJ No IfYes report the totaldollar amount and descdbe the items to bepaid. $8000;; The buyer may use these funds for closing costs, prepaids and discount point Note: Race and the racial composition ofthe net hborhood are not appraisal factors. HeighbdrhoodCheracterisfics OnerUnitHousingTrends .. One-UnitH'ousing _ Presentl.artdUse%,_ .. LocaSon XUrban Suburban Rural Proa Values Increasin X Stable Declinin PRICE AGE One -Unit 97 % Built -Up Over 3% X 25-75% Under25% Demand!Suoolv Shortage X In Balance I JoverSupply$ DOD rs 24 Unit % Growth Rapid I X I StaNe I I Slaw Markettn Time UnderSmths I X3-6mths Floverlirnfhs 131 Law 0 Multi -Family 2 % Neighborhood Boundaries The neighborhood boundaries Can cEeneral!y be described as Highway 55 to the 1,640 High 87 Commercial 1 % north Highway 494 to the east, Highway 12 to the south and County Road 101 to the west. 378 Pred. 33 1 Other % NeirihborhoodDescription Plymouth is a suburban communRy located to the west of the Minneapolis ! SL Paul metro area. Eas access is availableto the Minneapolis / St. Paul metro area by Highway 55. Plymouth provides support services such as employment, education medical, shopping, rollsous and recreation. Market Conditions(including support for the above conclusions NSMLS statistics indicate a list-io-sell ratio greater then 90% and average market times of properties sold of less then 120 days for single family dwellings in the city of Plymouth over the past one year. In the current market 0-3 points in sales or financing concessions is typical. Financing is available from a variety of sources. Dimensions 33*17*25*50"168*72*108*89 Area 19602 sf Shape Irregular View B;Res;Prk S ificZonin Classification R1 Zoning Descd tion Sin le Famil Residential Zonin Com liance X Legal Legal NonconformingGrandfathered Use)No Zonin 111- al describe Isthe highest and hest useof sub'ectproperty as im roved orasproposed perplans ands ecificalions the resent use? X Yes No IfNa describe. Utilities Public Other describe Public Other describe Off-site Im rovements--T a Public Private Electrics X water X Street Asphalt X Gas X SanitarySewer X Ally None fFMA S ecial Flood Hazard Area Yes X No FEMA Flood Zone X FEMA Ma # 27053CO327E FEMA Ma Dato None Are the utilities and/oroff-site improvements typical for the market area? X Yes No IfNe describe. Are Marcan adversesitecondilionsor externalfactors easements encroachments environmental conditions land uses etc.? Yes X No IfYes describe. GemarahDescri tion Foundation j ExteriorDescri tion materialslconditfori Intedior Tnaterlalslcondition Units X OneI I Onewith Access- Unit Concrete Slab Dcraw Space Foundation Walls ConcretelAv Floors C tlWoodlGood of Stories 2.00X FullBasement Partial Basement FXderlef Walls Wood/Good Walls D waII1Av T e X Det. Ati. S-Det.lEnd Unit BasementArea 1140 sq. ft. Roof Surface As haltlGood TrimlFinish Wood/Avg X Exislin Pro s UnderConst. BasementFinish BO % Gutters & Downspouts None Balk Floor CerlGood Desiqn(Stylel Contemporary Outside Entry1FxitWSump Pump WmdowType DblHun (Good BathWainscot CerlGood YearBuill 1986 Evidence of Infestation StonnSashllnsulated Yes/Avg CarStora a None Effective ars Dampness 5et11ement Screens YeslAv X Drivewa # ofCars 310 Attic None Healing X Fwn HWR Radiant Amenities Woodstove s N 0 Driveway Surface Asphalt Drop Stair I I Stairs Other I Fuel Gas X Fire aces 9 1 Fence None X Garage #o€Cars 3 Floor X Scuttle Ccolin X CentralAirConditionin X PaWiDeck Deck X Porch Screen Ca rt #ofCars 0 Finished Heated Individual Other Pool None Other None X Aft. Det. Built-in A lances X Refri -rater 1_XJ Ran elOven I X 10ishwasherl X ID7s sal X --rowavel X IWasher/D er Other describe Finished area above grade contains: 8 Rooms 4 Bedrooms 2.1 Baths 2,374 Square Feut of Gross Living Area Above Grade Additionalfentures (special oneefficientitems etc- Nonenoted Describethe condition ofthe propegy (includingneeded repairs. deterioration renovations remodeling, etc.. C3;No updates in the prior 15 ears;There is no apparent functional orexternal inadequacies. The construction is typical for the area. Floor plan provides average utility, design and appeal. Physical depreciation is typical for the vintage. Improvements appear in overall good condition. The utilitieswere on and in working order. In the Vast 4 years the roof, flooring, furnace, hot water heater, numerous windows and basement ceiling have been replaced. Are there any physicaldeficienciesoradverseconditionsthataffectthelivabili soundness orstructural !E!Ndly of the property? T7yes X I No If Yes, describe Does theproperty generallyconform tothe net hborhaod functional utility, style, condition use, consiroction, etc. ? X Yes No If No, describe Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005 UAD Version 912011 Produced by ClickFORMS Software 800-622-8727 Page 1 'age 94 Minnesota Metro Appraisals File No. 15519449 Case No. Uniform Residential Appraisal Report There are 1 comparable properties currently offered for sale in the sub'ect neighborhood ranging in price from $ 429,000 to $ 429,000 There are 7 comparablesales in thesubject nei hborhood within the past twelve monthsraneinq in sale price from $ 280,000 to $ 473,000 FEATURE I SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3 Address 14610 13th PI N 905 Fembrook Ln N 15020 22nd PI N 2370 Yuma Ln N PI mouth MN 55447 Plymouth, MN 55447 PI mouth MN 56447 Plymouth, MN 55447 Proximilyto Subject 0.35 miles SE 1.14 miles NW 1.23 miles NW SalePrice $ 422,000 $ 405,000 i$ 400,000 1$ 448,200 Sale PricelGrossUv.Ares $ 177.76 sq. ft. $ 175.93 s . ft. $ 185.19 s ft $ 191.05 sq. ft Data Source(s)NSMLS 4090043;DOM 137 NSMLS 4153329;DOM 34 NSMLS 4126602; DOM 37 Verification Sources County Assessors Records County Assessors Records County Assessors Records VALUEADJUSTMENTS DESCRIPTION DESCRIPTION +- $Adjustment DESCRIPTION +- $Adjustment DESCRIPTION $Adjustment Saleor Fiaarichq ArmLth ArmLth ArmUh Concessions FHA -5500 0 Conv;O Conv;9962 Dale of Sale/Time s06I12;c05112 0 s07112;e06112 0 s05/12:04/12 Location N; Res; N; Res; N;Res; N;Res; LeaseholdfFeeSimple Fee Simple Fee Simple Fee Simple Fee Simple Site 19602 sf 28750 sf 0 9148 sf +10,000 27007 sf View B;Res;Prk B Res;Wtr 0 N;Res +5,00 B;Res;Wir Desi n (Style) Contemporary Contemporary Contemporary Contem ora Quality ofConstruction Q3 Q3 Q3 Q3 ActualAW 26 19 0, 22 0 24 Condition C3 C3 C3 C3 Above Grade Total Bdrms Baths Total lBdrmsl Baths Total 1Bdrms1 Baths Total Bdrms Baths Room Count 8 1 4 1 2.1 _13T 4 F2.1 8 1 4 1 2.1 B 1 4 1 2.1 Gross LivingArea 2,374 sq, ft 2,302 sq. Q. 0 2,160 sq. ft. +8,560 2,346 sq. ft. Basement & Finished 11400912stin 1148sf0sfrn 0 1080sf900sfin 0 1168sf657sfin Rooms Below Grade 1m0br9.0balo +8.000 1Wbr1.0ba0o -4,000 1rr1brl.IbaOo -8,00 Funcfional Utility Average Average Average Average Heatin Coolin FWA/Central FWA/Central FWAICentral FWA/Central Energy Efficient Items None None None None Gam e1Ca rl 3 Car Att Gar 2 CarAtt Gar +5,00 2 Car Att Gar +5,00d 3 Car All Gar PorchlPatiolDeck Deck,Porch Deck +4,000 Dock,Porch Deck, Patio, Porch -2,00 Fire laces 1 Fireplace 1 Fireplace 2 Fire laces -1,00C 2 Fireplaces -1,00 None None None None None None None None MetAdjustment Dial X + $ 17 000 X + $ 23,560 X $ -11,000 AdjustedSale Price Net Adj: 4% NetAdj: 6% Net Adj: -2% ofCom arables Ii Gross Adj . 4% $ 422,000 Gross Adj: 8% IS 423,560 jGfoss Adj: 2% $ 437,200 I 1XJdid Eldid not research thesale or transfer history ofthesubject properly and comparable sales. If not explain M research ndidIXI did not reveal any priorsales or transfers ofthesubmect propettyforthethree years pdor 10 the effective date ofthisappraisal. Data sources NSMLS County M research did X did not reveal any priorsales or transfers of the comparable sales for the year priortothe date of sale ofthe comparable sale. Data sources NSMLS & County Report the results ofthe research and analysis ofthe prior sale ortransferhistoryofthe subject Prorierty,and comparable sales freport additional prior sales on page 3). ITEM SUBJECT COMPARABLE SALE#1 COMPARABLE SALE#2 1 COMPARABLE SALE #3 Date ofPrior Saleliransfur PriceofPdor Sale/Transfer Data Sources NSMLS & County NSMLS & County NSMLS & County NSMLS & Countv Effective Data ofData Sources 11/1912012 11/19/2012 11119/2012 11119/2012 Analysis ofpriorsale ortransfer history ofthesubject property and comparable sales Prior Listings and sales for the past three years have been indicated above for the subject and past year for the comparables. The subject is currently listed. Summary of3ales Comparison Approach A reasonable exposuretime for the subject is under 150 days. Due to a low turnover of simifar properties it was necessary to expand the search area beyond 1 mile and the time frame beyond 6 months for comparable selection. The subject and comparables are located in similar neighborhoods and should receive similar acceptance in the housing market. Adjustments were madeas follows; $40 per square foot of GLAif over 100 square foot difference $4,000 per below grade finished room $1,000 per Fireplace, $2,000 per deck or patio and $4,000 per porch, In the current market 0-3 points in sales or financing concessions is typical. No adjustments were madefor concessions finder 3 points. Dueto its similar GLA, room count and proximity most weight was placed on comparable #1. 4IQ Indicated Value bySales Comparison Appmach 3 422,000 Indicated Valueb ;Sales ComparisonAroach$ 422,000 CostA roach ifdevelo ed $ 430,688 IncomeApproach ifdevelo ed $ NIA Due to the lack of rental data the income approach is not appropriate. Most weight is given to the direct sales comparison approach as it best reflects the actions of the buyers and sellers. Due to the declining market the cost approach does not give an accurate indication of value and was only developed to satisfy a lender requirement. 1 This appraisalis made M°as is," subject to completion perplans and specifications on tho basis of hypothetical condition thatIke improvements have been completed, subject tothe following repairs oralterations on the basis ofa hypothetical condition that the repairs oralterations havebeen completed, or subjectiothe following aired inspection based on the extraordinary assum tion thatthe condition or deficient does notrequire alteration or repair: No warren of the appraisal is given or implied. No liabilityis assumed for the structural or mechanical elements of theproperty. Based on a complete visual inspection ofthe interior and exterior areasofihe subject property, defined scope of work, statement of assumptions andlimiting conditions, and appraisers certification, my (our) opinion of the marketvalue, as defined, ofthe real propertythat isthe subject ofthis report is 422,600 as of 1111912012 which isthe date of Inspection and the effective date ofthis appraisal, Freddie Mae Form 70 March 2005 UAD Version 912011 Produced by ClickFORMS Software 800-622-8727 Fannie Mae Form 1004 rsllig®5 9 5 Page 2 of 28 Minnesota Metro Appraisals File No. 15519449 Case No. Uniform Residential Aooraisal Report Adverse Environmental Conditions Unless otherwise stated in this report, the existence of hazardous material andfor electromagnetic emissions, which may or Rai not be present on theroe was not observed b thea raises Thea raiser has no such knowled a of the existence of such materials on or in the subject roe , or in the ro erties of the submect neighborhood. The appraiser is not qualified to detect such substances. The presence of such substances as asbestos urea formaldehyde foam insulation radon or other potentially hazardous materials may effect the value ofthe property. the value estimate expressed is predicated on the assumption that there is no such material in or on the property, thatwould cause loss of value. No responsibilityresponsibili!y is assumed for any such conditions or for any expertise or engineering knowledge required discovering them. Thecustomer is urged to retain an expert In this field. Minnesota Metro Appraisals Privacy Policy Notice In compliance with the Title Vof the Gramm-Leach_BLiLeyAct, information about your transaction with us, such as your home's appraised value parties to the transaction, transaction expenses and any other information we receivefrom you, your lender, or your real estate agent are sub'ect to following policy: WE PO NOT DISCLOSE ANY NONPUBLIC PERSONAL INFORMATION ABOUT YOU WITH ANYONE FORANY PURPOSE THAT IS NOT SPECIFICALLY PERMITTED BY LAW. We restrict access to nonpublic personal information about you to those employees who need to know that information in order to provide products quard your nonpublicorservicestoyou. We maintain physical, electronic and procedural safeguards that comply with federal regulations to c information. The appraiser has not provided services on the subject property in the 36 months prior to the acceptance ofthe assignment. Comparable search The comparable sale search focused on sales with transaction dates within the past 365 days, located within 2 miles from the sub-ecf within 20% above grade GLA, similar site size, similar age within a 10 year ran e. This resulted in 7 sales. The sales included in the report were utilized as the were the most similar to the subject. The homeowner for comparable 31 would not allow the appraiserto photograph the comparable. The MLS picture was utilized. COSTAPP TO VALUE {notregwred by Fannle Mae.} Pmvidead ualeinformationforthelenderklienttoreplicate yourcostfiguresandcalculalions. Supportfor the opinion ofsite value (summary of comparable land sates orothermethodsfor estimating site value Site value is based on review of recent land sales and site to value ratios. ESTIMATED1 IREPRODUCTIONOR FX -1REPLACEMENT COST NEW OPINION OF SITE VALUE _$ 110,000 Source ofcost data Marshal and Swift Replacement Cost Guide. Dwellin 2,374 Sq. Ft. S 110.00 =$ 261,140 Qualky faEnq From costservice Avg Effec6vedale ofcosldala 01101/12 I3smt. 1,140 Sq. Ft. $ 50.00 =S 57,000 Comments onCostApproach ms living area calculalions,depreciation, etc. Deck, Porch, Fireplace 20,000 Cost is developed from the Marshal and Swift Replacement Cost Guide.. Gara elCar ort 824 Sq, Fl. @ $ 30.00 =S 24,720 Physical depreciation is based on Marshal and Swift typical life TotalEstimateof Cost -new =$ 362,860 expectancy uide. Less Ph sisal 13 lFunctional Extemal Do reciation 47,172 1 0 0 =S 47,172 Depreciated Cast ofImprovements =$ 315,688 As-is"Value ofSiteImprovements - 5,000 Estimated Remaining Economic Life HUDand VA only) 70 Years Indicated Value By Cost Approach =$ 430,688 INCOME APPf2t)AMTO VALUE {not required 6y.FannieMaej _. Estimated Morithly Market Rent$ NIA XGross Multi tier NIA =S NIA IndicatedValue byIncomeA roach Summmy of IncomeA roaeh(including support for market rent and GRM Due to a lack of rental data the income approach is not appropriate. PROJECT INFOf INATION M PUDs Rippl-Ic-a-ble Islhedevelo erlbilderinconiroloftheHomeowneesAssocialion HOA? Yes No Uniti es Detached Attached Provide the foHoMnp information for PUDs ONLY ifthe devele edbuilderis in controlof theHOA and the submecl property is an attached dwelling unit. LLQal Name ofProject Totalnumber ofphases Total numberof units Total numberof units sold Totalnumber ofunits rented Total numberof units for sale Daia source s Was the promect createdby theconversion ofexisting buildin s into a PUD? IYesF1 No If Yes, date ofconversion. Does theprojectcontain any mulU-dwellin units? Neal No Datasource. Are the units, common elements and recreationfacilities complete? Yes F1 No IFNa,describe the statusofcompletion. Arethe common elements leased to orby the HomeownersAssociation? I IYes ONo If Yes, desedhethe rental terms andoptions. Describecommon elements and recreational facilities. Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005 UAD Version 912011 Produced by ClickFORMS Software 800-622-8727 Page 3 Rage 96 Minnesota Metro Appraisals EXTRA COMPARABLES 4-5-6 File No. 15519449 Case No, Borrower James Krocak PropertyAddress 14610 13th Pi N City Plymouth County Hennepin State MN Zip Code 55447 Lender/Client Flagstar Bank Address 5151 Corporate Drive, Troy, MI 48098 FEATURE I SUBJECT COMPARABLE SALE # 4 COMPARABLE SALT= # 5 COMPARABLE SALE # 6 Address 14610 13th PI N PI mouth, MN 55447 2385 Yuma Ln N Plymouth, MN 55447 2516 Yuma Ln N Plymouth, MN 55447 Proximity toSub'ect 1.27 miles NW 1.31 miles NW SalePdce $ 422,000 j$ 429,000 429,000 Sale PdcelGrossLiv. Area $ 177.76 sq. ft. $ 156.00 sq. ft., 162:50 sq. ft Data Sources NSMLS 4161494;DOM 131 NSMLS 4041604;DOM 179 Verification Source s VALUEADJUSTMENTS Saleor Financing DESCRIPTION County Assessors Records DESCRIPTION $Ad'ustmenl Listing County Assessors Records DESCRIPTION $AOstment ArmLth DESCRIPTION Ad1ustmen1 Concessions None -0 Conv;13620 -1,00 Dale of SafelTime 00112 0 s12/11;c11/11 Location N;Res; N;Res; N; Res; LeaseholdlreeSimple Fee Simple Fee Simple Fee Simple Site 19602 sf 18731 sf 1 34412 sf View B;Res;Prk N;Res; +5,00 N;Res; +5,00 Design (Style) Contemporary Contemporary Contem ora Quality ofConstruction Q3 04 +20,00 Q3 ActualA a 26 22 24 Condition C3 C3 C3 Above Grade Total lBdrmsl Baths TotalBdnnsBaths Total 1Bdrrns1 Baths Total Mans Baths Room Count 8 4 1 2.1 8 1 3 1 2.1 1 8 1 3 1 2.1 Gross Living Area 2,374 sq. ft. 2,750 5 . ft. -15,04 2,640 sq, ft. -10,64 s . fi. Basement & Finished Rooms Below Grade 1140sf912sffn lrfObrMbalo 1550sf1000sftn f 1rr0br1.0baio -4,00 17580600sHn orrlbro.obaoo +4,00 Functional Utility Average Average Average Heating/Cooling FWA/Ceniral FWA1Central FWAICentral Energy Efficient Items None None None GaragetCaTort 3 CarAtt Gar 3 CarAft Gar 3 Car Aft Gar PomhlPaticiDeck Deck,Porch Deck, Patio +2,00C Deck, Patio +2,00 Fireplaces 1 Fireplace 1 Fireplace 1 Fireplace None None None None None None NetAdjustment Total X + $ 7,960 1 X _ $ -640 0 Adjusted Sale Price of Com arables I Net Adj: 2% Gross Adj: 11%j:5% 436,960 Net Adj: 0% Gross Ad $ 428,360 Net Adj: 0% Gross Ad': D% $ 0 Report the results ofthe research and analysis ofthepier sale ortransferhistoryof the sub'eelproperty and comparable sales ITEM SUBJECT COMPARABLESALE# 4 GOMPARABLESALE# 5 COMPARABLE SALE# 6 Dateof PriorSalelTransfer Priceof Prior SalelTransfer DataSources NSMLS County NSMLS & Count NSMLS & County Effective Date ofData Sources 11/19/2012 11/19/2012 11/1912012 Analysis ofprior sale or transfer history ofthe subject properly and com rablesales See comments on previous page. Sumfnaryo[Salosr,ornpadsonAppfoach Comparable #4 is an active listing. I In the sub'ects market area listings are selling for 100% of the list price. A list price to sales price adjustment is not warranted. A second similar property currently listed for sale could not be located. UAD Version 912011 Produced by ClickFORMS Software 800-622-8727 Page 4 of 28 Page 97 Minnesota Metro Appraisals File No. 15519449 Uniform Residential Appraisal Report Case No This report form is designed to report an appraisal of a one -unit property or a one -unit property with an accessory unit; including a unit in a planned unit development (PUD). This report form is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project. This appraisal report is subject to the following scope of work, intended use, intended user, definition of 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 of this appraisal assignment Modifications or deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations 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 of this appraisal assignment and the reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the interior and exterior 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 from 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 financetransaction. INTENDED USER: The intended user of this appraisal report is the lenderfclient. 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. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller 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 offinancial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with the sale. Adjustments 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 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 comparable property by comparisons to financing terms offered 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 financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: Theappraiser'scertification inthisreportis subject to the following assumptions and limiting conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised orthe 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 the 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. Theappraiser 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 ofthe 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 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 involved in performing this appraisal. Unless otherwise stated in this appraisal report, the appraiser has no knowledge ofany hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, 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 for 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 field 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 satisfactory completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will be performed in a professional manner. Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005 UAD Version 9/2011 Produced by ClickFORMS Software 800-622-8727 Page 5 of Page 98 Minnesota Metro Appraisals t=ile No. 15519449 Uniform Residential Appraisal Report Case No APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: 1. 1 have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report. 2. 1 performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition of the improvements in factual, specific terms. 1 identified and reported the physical deficiencies that could affect the livability, soundness, or structural integrity of the property. 3. 1 performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 4. 1 developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop them, unless otherwise indicated in this report. 5. 1 researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date 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. 1 researched, verified, analyzed, and reported on the prior sales ofthe 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. 1 selected and used comparable sales that are [ocationally, physically, and functionaliy the most similar to the subject property. e. I have not used comparable safes that were the result of combining a land sale with the contract purchase price of a home that has been built or will be built on the land. 9. 1 have reported adjustments to the comparable sates that reflect the market's reaction to the differences between the subject property and the comparable sales. 10. 1 verified, from a disinterested source, all information 1n this report that was provided by parties who have a financial interest in the sale or financing of the subject property. 11. 1 have knowledge and experience in appraising this type of property in this market area 12. 1 am aware of, 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. 1 obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct. 14. 1 have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject property, and the proximity of the subject property to adverse influences in the development ofmy opinion of marketvalue. I have noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property orthat I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in my analysis ofthe property value, and have reported on the effect of the conditions on the value and marketability ofthe subject property. 15. 1 have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and information in this appraisal report are true and correct. 16. 1 stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report. 17. l have no present or prospective 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 participants in the transaction. I did not base, either partially or completely, my analysis and/or 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 the 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 and/or compensation for performing this appraisal or 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 of any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application). 19. 1 personally prepared al[ conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in this appraisal report. I. certify that any individual so named is qualified to perform the tasks. I have notauthorized anyone to make a change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take no responsibility for it. 20. 1 identified the lenderlclient in this appraisal reportwho is the individual, organization, or agent for the organization that ! ordered and will receive this appraisal report. Freddie Mac Form 70 March 2005 FannieMae Form 1004 March 2005 UAD Version 912011 Produced by ClickFORMS Software 800-622-8727 Page 6 of 28Page 99 Minnesota Metro Appraisals untfOrM Kesiaentlal APPralSat KOPOrt File No. 15519449 Case No. 21. The lenderlclient may disclose or distribute this appraisal report to: the borrower; another lender at the request ofthe 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 States; and any state, the District of Columbia, or otherjurisdictions; without having to obtain the appraisers or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, public relations, news, sales, orother media). 22. 1 am aware that any disclosure or distribution of this appraisal report by me or the lenderlclient 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 distribution 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 secondary 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 of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version ofthis 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 civil liability andlor 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. 1 directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 2. 1 accept full responsibility for 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 identified in this appraisal report is either a sub -contractor or an employee of the supervisory appraiser (or the appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law. 4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. B. Ifthis 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 ofthis appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. APPRAISER Signature Name Company Name Minnesota Metro Appraisals CompanyAddress 210 Cherrywood Avenue NW___ St. Michael, MN 55376 Telephone Number763-221-6263 Email Address milorlee@charter.net Date of Signature and Report 11/19/2012 Effective Date of Appraisal 1111912012 State Certification 20392537 or State License # or Other (describe) State MN SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature Name Company Name _ CompanyAddress Telephone Number Email Address Date ofSignature StateCertification # or State License # State # Expiration DateofCertification orLicense Expiration Date of Certification or License 08/3112014 ADDRESS OF PROPERTY APPRAISED 14610 13th PI N Plymouth MN 55447 APPRAISED VALUE OF SUBJECT PROPERTY $ 422,000 LENDER/CLIENT Name LSI Appraisal, LLC Company Name Flagstar Bank CompanyAddress 5151 Corporate Drive Trov. MI 48098 EmailAddress SUBJECT PROPERTY Did not inspect subject property Did inspect exterior of subject property from street Date of Inspection Did inspect interior and exterior of subject property Dale of Inspection COMPARABLE SALES Did not inspect exterior of comparable sales from sti Did inspect exterior of comparable sales from street Date of Inspection Freddie Mac Form 70 March 2005 Fannie Mae Farm 1004 March 2005 UAD Version 972011 Produced by ClickFORMS Software 800-622-8727 Page 7 ofPage 100 Minnesota Metro Appraisals COMMENT ADDENDUM Borrower James Krocak File No. 15519449 Case No. Property Address 14610 13th PI N City Plymouth County Hennepin State MN Zip Code 55447 LendedClient Flagstar Bank Address 5151 Corporate Drive, Troy, MI 48098 _ The appraiser was employed by LSI Appraisal, LLC The appraisal is rendered for Flagstar Bank The purpose of the appraisal is forfair market valuation. The appraiser nor the spouse, parent, or child ofthe appraiser does not has any ownership interest in the subject property or contiguous properties. The appraiser nor the appraisers spouse, children living at home, or dependent children do not have a continuing business relationship with one of the parties. The appraiser has not provided services on the subject property in the 36 months prior to the acceptance of the assignment. The appraiser has performed appraisals of the type requested or for the type of property to be appraised as a regular part of the appraiser's business in the preceding five-year period. the appraiser holds a Certified Residential Appraisers license in the state on Minnesota and can complete residential appraisals. UAD Version 912011 Produced by ClickFORMS Software 800-622-8727 Page 8 of 28 Page 101 Minnesota Metro Appraisals File No. 15519449 Market Conditions Addendum to the Appraisal Report Case No. The purpose of this addendum is 10provide the lander/clientwith a clear and accurate understanding of the market trends and conditions prevalent in the subject neighborhood. This is a required addendum for all appraisal reports with an effective date on orafterApril 1 2009. PropeftyAddress 14610 13th PI N City Plymouth State MN 1P Code 55447 Borrower James Krocak Instructions: The appraiser must use the information required on this form as the basis for hislher conclusions and must provide support for thoseconclusions, regarding housing trends and overall market conditions as reported in the Neighbortrootl section of the appraisal report form. The appraiser must fill in all the information to theextent itis available and reliable and must provide analysis as indicated below. If any required data is unavailable or is considered unreliable, the appraiser must provide an explanation. It is recognized that not all data sources will be able to pmvide data forthe shaded areas below, if it is available, however, the appraiser mustinclude that data in theanalysis. If data sources provide all the required information as an average instead ofthe median, the appraiser should report the available figure and !dentify it as an average. Sales and listings must be properties [hal compete with the subject property, determined by applying the criteria thatwould be used by a prospective buyer ofthe sublet[ roe . Thea raiser must ex fain a-n,y anomalies in thedata, such as seasonal markets new construction, foreclosures, etc. Invenf Anal Is Prior 7-12 Months Prior A-6 Months Current - 3 Months Overall Trend Total # ofComparable Sales Settled 3 3 1 Increasing Stable X Declining Ab,sorDficn Rate(Total SaleslManths 0.50 1.00 0.33 Increasing Stable 11XJ Deelini Total # ofComparable Active listin s 53 1 X Declinin Stable Increasing Months ofHousing Supply (total Listin slAb. Rate 10.00, ' "3.00. . ` 3-03 1 'DA61inino I X '$tahle I I J 11nrirpnglnri Median Sales &.List Price' DOM $alelL103'e Prior 7-12 Months Prior4-6 Months Current- 3 Months Overall Trend Median Comparable Sales Price 454,000.00 1 405,000.00 280,000.00 Increasing Stable X Declining Median Comparable Sales Das on Market 145 37 t76 Daclinin Stable X Increasin Median Comparable List Price 412,450.00 421 950.00. 410,000.00 Increasin Stable X Declinin Median Comparable I-Wng Das on Market 124. 154 176 Declinin Stable X inaieasin Median Sale Price as % of List Price 99-00 96.00 100.00 X Increasin Stabie Declining Seller-(daveloper, builder, etcJ paid financial assistanceprevalent? FX1 Yes No DeclininI X I 5lable IJ Increasing Explain in detail sellerconcessions trends for the past 12 months (e.g. seller contributions increased from 3% to 5%, increasing use of buydowns, closing costs condofees, options, etc. In the current market 0-3 points in sales or financing concessions is typical. Are foreclosuresales REO sales a factor in the market? I IYes JXj No Ifyes, explain (incluftg the trends in listings and sales of foreclosed properties). Citedata sources for above information. NSMLS Summarize the above information as support for yourconclusions in the Nelghborhood section ofthe appraisal report form. Ifyou used any additional information, such as an analysis of pending sales, andfor expired and withdrawn listings, toformulateyourconclusions, provlde both an explanation and support far your conclusions. Thetrends listed above are for comparable properties that have sold in the past year. The trends listed above may not match the trends listed in the neighborhood trend section on page one. This is typical as the 1004MC trends only includethesales of comparable properties while the neighborhood trends include all of the sales in the subjects area. The neighborhood trends indicate property values are stable. If the sub'ect is a unit in acondominium or coo erative Proiect. cora lete the followin : Proiect Name: Sub'ect Protect Data Prior 7-12 Months Prior 4-6 Months Current- 3 Months Overall Trend Total # ofComparable Sales Settled Increasing Stable Decl!Nn Absorption Rate Total SaleslMonths Increasing Stable Declinin Total # ofActive Comparable Listings Oectlnin ' Stable . Incfeasin ` Months of Unit Supply (Total Lisgn slAb. Rate t]ecllnm Stable Incieasi..' Are foreclosures sales (REO sales) a fatterin the project? Yes No If yes, indicate the number of REO listings and explain the trends in listings and sales of foreclosed properties. Summarize the above treruts and address the impacton the sub"ec1 unit and ro'ect. Signature Signature A raiser Name Milo Lee Supervisor Harrie Company Name Minnesota Metro Appraisals Company Name Company Addres0l0 Cherrywood Avenue NW, St. Michael, MN 553 76 Company Address State LicenselCertificalion # 20392537 Stale MN State License1Cedlflca6on # State EmailAddress milorlee@charter.net I Email Address Freddie Mac Form 71 March 2009 UAD Version 912011 Produced by C[ickFORMS Software 800-622-8727 Fannie MaeForm 1004MG March 2009 Page 9 of Page 102 Minnesota Metro Appraisals UNIFORM APPRAISAL DATASET (UAD) Property Condition and Quality Rating Definitions File No. 15519449 Case No. Requirements - Condition and Quality Ratings Usage Appraisers must utilize thefollowing standardized conditions and quality ratings within the appraisal report. Condition Ratings and Definitions The improvements have been very recently constructed and have not previously been occupied. The entire structure and all components are new and the dwelling features no physical depreciation. Note: Newly constructed improvements that feature recycled orpreviously used materialsaf0orcomponents can be considered new dwellings provided that the dwelling isplacedon a 100percentnow foundationand recycled materials and therecycled components have been rehabilitatedremanufactured into fike-newcondition. Improvements thathave notbeenpreviously acceptedare not considered new'iftheyhave significant physicaldepreciation (that is, newly constructeddwellings that have been vacantforay extendedperiodoftime withoutadequatemaintenance atupkeep). C2 The improvements feature no deferred maintenance, little orno physical depreciation, and require norepairs. Virtually all building components are neworhave been recently repaired, refinished, or rehabilitated. All outdated components and finishes have been updated andfor replaced withcomponents that meet current standards. Dwellings in this category eitherare almost new orhave been recently completely renovated and are similar in conditton tonew construction. Note: The improvements represent a rotatively newproperty thatis well maintained with no deferredmaintenance and little or nophysical depreciation, oran olderproperty that has been recently completely renovated. C3 The improvements are well maintained and feature limited physical depreciation due to normal wear and tear. Some components, but not every major building component, may beupdated or recently rehabilitated. The structure has beenwell maintained. Note; The improvement isin its first -cycle ofreplacingshort-livedbuilding components (appliances, floorcoverings, HVAC, etc.) and is being wellmaintained. Its estimated elfee9ve age is less than its actual age. It also may reflect aproperty in which the majority ofshort-lived building components have been replaced but not to the level of complete renovation. C4 The improvements feature some minor deferred maintenance and physical deterioration due to normal wear and tear. The dwelling has been adequately maintained and requires only minimal repairs to building componentsfinechanical systems and cosmelie repairs. All major building components have been adequately maintained and are functionally adequate. Note: The estimated effective age maybe close to or equal to itsactual age. Itreflectsa propertyin which someof the short lived building components have been replaced, andsomeshort-lived components are at ornear the endoftheirphysical fife expeclancy; however, theyshitfunction adequately. Most minorrepairs havebeen addressedon an ongoing basis resultingin an adequatelymaintainedpropady. C5 The improvements feature obvious deferred maintenance and are in need of some significant repairs. Some building components need repairs, rehabilitation, or updating. The functional utility and overall livability is somewhat diminished due to condition, but the dwelling remains useable andfunctional as a residence. Note: Some significanf repairs are needed to the improvements due to the tack of adequate maintenance. It reflects a property in which many ofits short-livedbuilding components are attheendoforhave exceededtheuphysicallife expectancy but remain functional. C6 The improvements have substantial damageor deferred maintenance withdeficiencies or defects that are severeenough to affect the safety, soundness, crstructural integrity ofthe improvements. The improvements are in needofsubstantial repairs and rehabililafon, including many or most major components. Note: Substantial repairs areneeded to the improvements due to the lack of adequate maintenance orproperlydamage. It reflects a property with condition severe enough to affect thesafety, soundness, orstructural integrity oftho improvements. UAU Version 9/2011 Produced by GhcKt-UHrob software buu-uzz-b/21 rage -iu or zo Page 103 Minnesota Metro Appraisals UNIFORM APPRAISAL DATASET (UAD) Property Condition and Quality Rating Definitions File No. 15519449 Qua[ity Ratings and Definitions Q1 Dwellings with this quality railing are usually unique structures that are individually designed by an architect for a specified use. Such residences typically are constructed from detailed architectural plans and specifications and feature an exceptionally high level of workmanship and exceptionally high-grade materials throughout the interior and exteriorof the structure. The design features exceptionally high-qualityexterior refinements and ornamentation, and exceptionally high-quality interior refinements. The workmanship, materials, and finishes throughout the dwelling are exceptionally high quality. 02 Dwellings with this quality rating are often custom designed for construction on an individual property owners site. However, dwellings in this quality grade are also found in high-quality tract developments featuring residences constructed from individual plans or from highly modified or upgraded plans. Thedesign features detailed, high-quality exterior omamentation, high-quality interior refinements, and detail. The workmanship, materials, andfinishes throughoutthe dwelling are generally ofhigh orvery high-quality. 03 Dwellings with this quality rating are residences of higher quality built from individual or readily available designer plans in above -standard residential tract developments oron an individual property owner's site. The design includes significant exterior ornamentation and interiors that are well finished. The workmanship exceeds acceptable standards and many materials and finishes throughout the dwelling have been upgraded from "stock" standards. Q4 Dwellings with thisqualityrating meet orexceed the requirements of applicable building codes. Standard or modified standard building plansare utilized and thedesign includes adequate fenestration and some exterior ornamentation and interior refinements. Materials, workmanship, finish, and equipment are of stock or builder grade and may feature some upgrades. 05 Dwellings with this quality rating feature economy of construction and basic functionality as main considerations. Such dwellings feature a plain design using readily available orbasic floorplansfeaturingminimal fenestration and basic finishes with minimal exteriorornamentation and limitedinterior detail. These dwellings meetminimum building codes and are constructedwith inexpensive, stock materialswith limited refinements and upgrades. Q6 Dwellings with this quality rating are of basic quality and lowercost; some may not besuitable for year-round occupancy. Such dwellings are often builtwith simple plans or without plans, often utilizing the lowest quality building materials. Such dwellings areoften built or expanded bypersons who are professionally unskilled orpossess only minimal construction skills. Electrical, plumbing, and other mechanical systems and equipment maybe minimal ornon-existent. Olderdwellings may feature aneor more substandard non -conforming additions to the original structure. Requirements - Definition of Not Updated, Updated and Remodeled Not Updated Little or no updating or modernization. This description Includes, but is not limited to, new homes. Residential properties of fiheen years ofage orless often reflect an odginal conditionwith no updating, if no major components have been replacedor updated. Those overfdieen years ofage are also considered not updated if the appliances, fixtures, and finishes are predominately dated. An area that is'Not Updated' may still be well maintained and fully functional, and this rating does not necessarily implydeferred maintenance orphysicapfunctional deterioration. Updated Thearea ofthe home has been modifiedto meet current market expectation. These modifications are limited in terms of bath scope and cost, An updated areaof the home should have an improved look and W. orfunctional utility. Changes that constitute updates include refurbishment andlorreplacing meetexisting market expectations. Updates do not include significant alterations to the existingstructure. Remodeled Significantfinish and/orstructural changes have been made that increase utility and appeal through complete replacement and/or expansion. A remodeled area reflects fundamental changes that include multiple alterations. These alterations may include some orall ofthe following: replacement of a major component (cabinet(s), bathtub, or bathroom tile), relocation of plumbing/gas fixtureslappliances, significantstructural alterations (relocating walls, andlor the addition ofsquare Footage). This would include a complete gutting and rebuild. UAD Version 912011 Produced by ClickFORMS Software 604-622-8727 Page 11 of 26 Page 104 Minnesota Metro Appraisals UNIFORM APPRAISAL DATASET (UAD) Property Description Abbreviations Used in This Report File No. 15519449 NO. Abbreviation ac Full Name Acres May Appear in These Fields Area Site Ad"Prk Adjacent to Park Location AdiPwr Ad'acent to Power Lines Location A Adverse Location & View Arm Lth Arms LencIth Sale Sale or Financing Concessions ba Bathrooms Basement & Finished Rooms Below Grade lar I Bedroom Basement & Finished Rooms Below Grade B Beneficial Location & View Cash Cash Sale or Financing Concessions Ctys CityView Skyline View Mew CtyStr Citv Street View View Comm Commercial Influence Location c Contracted Date Date of Sale/Time _ Conv Conventional Sale or Financing Concession CrtOrd Court Ordered Sale Sale or Financing Concession DOM Das On Market Data Sources _ e Expiration Date Date of Sale/Time Estate Estate Sale Sale or Financing Concessions FHA f=ederal Housing Administration Sale or Financing Concessions GlfCse Golf Course Location Glfvw Golf Course View View Ind Industrial Location & View in Interior Only Stairs Basement & Finished Rooms Below Grade Lndfl Landfill Location LtdS ht Limited Sight View Listing Listing Sale or Financing Concessions Mtn Mountain View View N Neutral Location & View Nor)Arm Non -Arms Length Sale Sale or Financing Concessions Bs Rd Busy Road Location o Other Basement & Finished Rooms Below Grade Prk Park View View Pstrl Pastoral View View PwrLn Power Lines View PubTrn Public Transportation Location rr Recreational Rec Room Basement & Finished Rooms Below Grade Relo Relocation Sale Sale or Financing Concessions REO REO Sale Sale or Financing Concessions Res Residential Location &View RH USDA - Rural Housing Sale or Financing Concessions S Settlement Date Date of Sale(Time Short Short Sale Sales or Financing Concessions sf Square Feet Area Site Basement Unk Unknown Date of Salefrimo VA Veterans Administration Sale or Financing Concessions w Withdraw Date Date ofSalefrime wo Walk Out Basement Basement & Finished Rooms Below Grade wu Walk U) Basement Basement & Finished Rooms Below Grade WtrFr Water Frontage Location Wtr Water View View Woods Woods View View Wtr a Water View Pstrl Pastoral View Woods Woods View Prk ParkView Glfvw Golf Course View Cty6ky City Skyline View Mtn Mountain View Res Residential View C€ Str City Street View Ind Industrial View PwnLn Power Lines LtdS ht Limited Si ht See Instruction Below Other - Appraiser to enter a description of the view" ABBREVIATED ENTRY --OVERALLVfEW RATING Other: If a view factor not on this list materially affects the value of the subject properly, the appraiser must enter adescription of theview associated with the property. Thedescription entered mustallow a readerof the appraisal report to understand what the viewassociatedwith the property actually is. Descriptors such as'None', WN. Typical', 'Average', etc., are unacceptable. Descriptions should be entered carefully because the same text witl be represented in both the Sitesection and the eomparabte sales grid forthe subject property. The text must fit in the allowable space. UAD Version 9/2011 Produced by ClickFORMS Software 800-622-8727 Page 1lD8fgt8 5 Minnesota Metro Appraisals SUBJECT PHOTO ADDENDUM File No. 15519449 Case No. Borrower James Krocak Property Address 14610 13th PI N City Plymouth County Hennepin State MN Zip Code 55447 Lender/Cfent Flapstar Bank Address 5151 Corporate Drive, Troy, MI 48098 r SRIF t W— r rFt 1] l qq FRONT OF SUBJECT PROPERTY 14610 13th PI N Plymouth, MN 55447 REAR OF SUBJECT PROPERTY STREET SCENE UAD Version 9/2011 Produced by ClickFORMS Software 860-622-8727 Page 13 of 28 Page 106 Minnesota Metro Appraisals SUBJECT PHOTO ADDENDUM File No. 15519449 Case No. Borrower James Krocak Property Address 14610 13th PI N Cit Plymouth County Hennepin State MN Zip Code 55447 LeaderlClient FIa siar Bank Address 5151 Corporate Drive, Troy, MI 48098 Opposite street view Across the street from the subject Subjects address UAD Version 912011 Produced by ClickFORMS Software 800-622-8727 Page 14 of 28 Page 107 Minnesota Metro Appraisals SUBJECT PHOTO ADDENDUM File No. 15519449 Case No. Borrower James Krocak Propetty Address 14610 13th PI N City Plymouth County Hennepin State MN Zip Code 55447 LendedClient Fla star Bank Address 5151 Corporate Drive Troy, MI 48098 Side of the subject Side of the subject Park view UAD Version 912011 Produced by ClickFORMS Software 800-622-8727 Page 15 of 28 Page 108 Minnesota Metro Appraisals SUBJECT PHOTO ADDENDUM File No. 15519449 Case No. Borrower James Krocak Property Address 14610 13th Pi N Gly Plymouth Ccunty Hennepin State MN Zip Code 55447 LenderlClient Flagstar Bank Address 5151 Corporate Drive, Troy MI 48098 Living room Family room Dinette L1AD Version 912011 Produced by ClickFORMS Software 800-622-8727 Page 16 of 28 Page 109 r K Living room Family room Dinette L1AD Version 912011 Produced by ClickFORMS Software 800-622-8727 Page 16 of 28 Page 109 Minnesota Metro Appraisals SUBJECT PHOTO ADDENDUM File No. 15519449 Case No. Borrower James Krocak Property Address 14810 13th PI N City Plymouth County Hennepin State MN ZipCode $5447 LendedClient Flagstar Bank Address 5151 Corporate Drive, Troy, MI 48098 _ Kitchen Laundry Dining room UAD Version 912011 Produced by ClickFORMS Software 800-622-8727 Page 17 of 28 Page 110 Minnesota Metro Appraisals SUBJECT PHOTO ADDENDUM File No. 15518449 Case No. Borrower James Krocak Properly Address 14610 13th PI N City Plymouth County Hennepin State MN Zip Code 55447 Lender/Client Flagstar Bank Address 5151 Corporate Drive Troy, MI 48098 Half Bathroom Bedroom Bedroom UAD Version 9/2011 Produced by ClickFORMS Software 800-622-8727 Page 18 of 28 Page 111 tl ry T } Li Half Bathroom Bedroom Bedroom UAD Version 9/2011 Produced by ClickFORMS Software 800-622-8727 Page 18 of 28 Page 111 Minnesota Metro Appraisals SUBJECT PHOTO ADDENDUM File No, 15519449 Case No. Bonower James Krocak Property Address 14610 13th PI N City Plymouth County Hennepin State MN Zip Code 55447 tendedClient Flagstar Bank Address 5151 Corporate Drive, Troy, MI 48098 Bathroom Bedroom Bathroom UAD Version 912011 Produced by ClickFORMS Software 800-622-8727 Page 19 of 28 Page 112 Minnesota Metro Appraisals SUBJECT PHOTO ADDENDUM File No. 15519449 Case No. Borrower James Krocak PropertyAddress 14610 13th PI N City Plymouth Connty Hennepin Slate MN Zip Code 55447 LeadedClient Fla star Bank Address 5151 Corporate Drive, Tro , Mi 48098 rayw; nor . Bedroom Rec room Basement den UAD Version 912011 Produced by ClickFORMS Software 800-622-8727 Page 20 of 28 Page 113 Minnesota Metro Appraisals SKETCH ADDENDUM File No. 15519449 Case No. Borrower James Krocak Property Address 14610 13th PI N city Plymouth County Hennepin stale MN Zip Code 55447 Lender/Client Flagstar Bank Address 5151 Corporate Drive Troy. MI 48098 12.0' 4.0' 8.0' 4.0' 6.0' 3.3'5' 2.5' Porch Deck 8.0' Family 6.0' 16.0' Room Dinette Kitchen Laundry 1 34.0' Il 36.0- 20.0' Half 22.0' Living Bath pining 3 Car Garage Room Room Foy er 6.0'12.0' 36.0' 4.0' 15.0' 24.0' 4. d 0.0' 11.0' 2.0' Bedroom Full Bath Bedroom Full 30.0' Bath Bedroom Bedroom Open 15.0' 6.0' 15.0' 15.0' 4.0' 21.0' Rec Den 34.0' 30.0' Room Utility 36.0' UAD Version 912011 Produced by ClickFORMS Software 800-622-8727 Page 21 of 18 Page 114 Minnesota Metro Appraisals SKETCH ADDENDUM File Na. 15519449 Case No. Borrower James Krocak Property Address 14610 13th PI N City Plymouth County_ Hennepin State MN Zip Code 55447_ LenderlClient Fla star Bank Address 5151 Corporate Drive, Troy,MI 48098 t1AD Version 912011 Produced by ClickFORMS Software 800-622-8727 Page 22 of 28 Page 115 SKETCH CALCULATIONS Perimeter Area Al : 15.0x4.0 = 60.0 A2 A2: 36.0x6.0 = 216.0 A3: 52.0x7.0 = 364.0 A3 A4:36.0x17.0= 612.0 A5: 0.5 x2.012.0 - 2.0 A6; 0.5 x2.0120= 20 A4 A7: 6.0 x2.0 = 12.0 First Floor 1288.0 A8: 15.0x4.0= 60.0 Ag: 25.0x2.0 = 50.0 Al 0: 15.0x 14.0 = 210,0 All All :35.0x 16.0 = 576.0 412:15.0x14.0= 2100 AIG AI2 Second Floor 1106.0 A13 : 15.0x4.0 = 60.0 A14: 35.0 x 30.0 = 1060.1 AI4 Basement 1140.0 Total living Area 2374.0 I 475 I A15:200 x7.0 140.0 j 016.36.0x 15.0 = 540.0 1416 A17:24.0x6.0 = 144.0 117 AttachedGaraga 824.0 Total Garage Area 824,0 478 Alb:12.0x12.0= 144.0 Porch 144.0 Total PorchArea 144.0 I A19:4.0x4.0 - 16.0 Azo A20 : 9,0x80 = 72.0 Deck 88.0 Total PatiolUeckArea 88.0 t1AD Version 912011 Produced by ClickFORMS Software 800-622-8727 Page 22 of 28 Page 115 Aerial Image 14610 13th PI N File No. 15519449 Case No. City Plymouth County Hennepin State MN Zip Code 55447 Lender/Client Flac_9star Bank Address 5151 Corporate Drive, Troy, MI 48098 s ,"NorthstarMLSMatrix - Wrrsd6ws [IjCeinQYtex ifar '""'" '""-'^"' 1 41 lIe> File Edit View Favotites tools Help rl—tN ..Iir, Old. 13.101, CQitnna4wl, rd SLru.l r1 41SC Pu*,dA7rp5 -A -h ltit*g,. U""I., rate) w e NOrtlistarMLS Matrix 'i - D Y- n,o= - w o ra, ON ORTIRM-11111111111MM2111111IM— KNOWS, u 5'aYiflU 4_ IIWIFn. 11'AAPsnvl Yer:ilY Alllnall. 1 fYatransfU r.Wil, I ran %i—i— ni9n1 i PrnA—H by r ..RA F= IPAAC qnn erara Ann -k')') -.Q797 P.— 9'4 nr 116 Plat Map File No, 15519449 Case No. PropertyAddress 14610 13th PI N City Plymouth County Hennepin State MN Zip Code 55447 LenderlClient Flagsiar Bank Address $151 Corporate Drive, Troy, MI 48698 7 Z' 168' 85` 7' 33'',, 25' 50' 117 IIAI) Var_cinn w9n11 Prnrhirerl by ClirkFnRMS ;nftwara Rno-829-8727 Pane 24 of Minnesota Metro Appraisals COMPARABLES 1-2-3 File No. 15519449 Case No. James Krocak COMPARABLE SALE # 1 905 Fernbrook Ln N Plymouth, MN 55447 COMPARABLE SALE # 2 16020 22nd PI N Plymouth, MN 55447 COMPARABLE SALE # 3 2370 Yuma Ln N Plymouth, MN 55447 UAQ Version 912011 Produced by ClickFORMS Software 800-622-8727 Page 25 of 28 Page 118 Minnesota Metro Appraisals COMPARABLES 4-5-6 File No. 15519449 Case No. Borrower James Krocak Property Address 14610 13th PI N Qty Plymouth County Hennepin State MN Zip Code 55447 Lender0lent Fla star Sank Address 5151 Corporate Drive, Troy, MI 48098 COMPARABLE SALE # 2385 Yuma Ln N Plymouth, MN 55447 COMPARABLE SALE # 2516 Yuma Ln N Plymouth, MN 55447 4 5 COMPARABLE SALE # 6 UAD Version 912011 Produced by ClickFORMS Software 800.622-8727 Page 26 of 28 Page 119 Minnesota Metro Appraisals LOCATION MAP ADDENDUM File No. 15519449 Case No. Borrower James Krocak Property Address 14610 13th PI N Gly Plymouth County Hennepin Stale MN Zip Code _55447 LendedGlient Fla star Bank Address 5151 Corporate Drive Troy. MI 48098 WPteCr. -el: 32nd Avn N 24 O '? z Camp s Can 3 - 2it0yumarl.n I I SS''I FbmauCn_ N7F7SdMr + ':I2370Ytrmtmt€ 1x=111! P imuz MlW447. ij' 27th hvn N - P41i z 25th Ave t! Comp 4 2'dJYlenaGN F€/nmuth. lAAI X47 4t<tP ? 2314 Ave.€J iuly 191h Ave Comp 2 Z h mpIVz160:7 2=rdPiN a FrFinaaih. MN ,',:'I<= ' ' .Sualjxl.................... __ ,' E 34010t3:hF€N3Jt; 1'.V411 y R Pryn>outh W1 5;447 X03 f pt<it # Go1 P4fy Lima i'vlhr'a L:=• 'nii: 13ti,.Ave N j = 11th Aae N 7 s z 1; r X-N VA € Y Comp 1is P4Tna,, t UU5_447 y m z_ a G11aonlakevr ki {a'k u l' 3r F r a N Q] 4 ti a 3 rdI-l llrlitefsn7lt} i`reir, Bay Cr=,'el srll G ..4 K,,t .3C -ay t11 1Q II t ` FI [4nf30C Rd 4' 3k a i ij Plitt ird i I 4k t RV aR o I miles 2012 ?4--r 'ors Cecperttexs V L (I tkAMEQ !D ARD. LEAD Version 912011 Produced by ClickFORMS Software 800-622-8727 Page 27 opige 120 License File No. 15519449 Case No. Borrower James Krocak Property Address 14610 13th PI N City Plymouth County Hennepin State MN Zip Code 55447 Lender/Client Fla star Bank Address 5151 Corporate Drive, Troy. MI 48098 MILD RAY LEE 210 CHERRYWOOD AVE NW SAINT MICHAEL, MN 55376 STATE OF MINNESOTA Department of Commerce The Undersignod COMMISSIONER OF COMMERCE for the State of Minnesota hereby certifies that MILO RAY LEE 210 CHERRYWOOD AVE NW SAINT MICHAEL, MN 55376 has compiled with the laws of the State of Minnesota and Is hereby licensed to transact the business of Resident Appraiser ; Certified Residential License Number: 20392537 unless this authority is suspended, revoked, or otherwise legally terminated. This license shalt be in effect until August 31, 2014. IN TESTIMONY WHEREOF, I have hereunto set my hand this August 01, 2012. J,/ Pfw COMMISSIONER OF COMMERCE Minnesota Department of Commerce Licensing Division 857th Mace East, Suite 500 t. Paul, MN 55101-3165 Teiephone: (651) 296-6318 Email: licensing -commerce c@state,mmus websile: commerce.state.mmus Notes: Continuing Education: CERequirennQnt TvoeTvoe CE Required Hours Total -Appraiser 30.00 USPAP 7.00 Cantlnuing Education: ,b hours Is required In the firstranewat period, which Includes a 7 hourUSPAP course. 30 hours Is required for each subsequent renewal period, which Indudes a 7 hour USPAP course. Appralsers: You must held a licensed Rssidential, Certified Residential, or Cart3fed General qualificaticn In order toperformappraisalsfor'federally-related transactions. Trafneas do not quality. Forfurther -details, please visit our websiteatcommerce-stete.mn.us. 121 UAD Version 912011 Produced by ClickFORMS Software 800-622-8727 Pane 28 of City of Plymouth Assessing Division 2013 Local Board of Appeal and Equalization Assessment Application 3400 Plymouth Blvd Plymouth, MN 55447 Phone: 763-509-5360 Fax: 763-509-5060 Email: assessing@plymouthmn.gov Date Returned: Received via: Date Withdrawn: Withdrawn via: Dist Nbad Appraiser Date: 4/9/2013 Home Number: Work Number: Cell Number: Owners Name(s) James and Heidi KrocakFax Number: Address Zip Cod 14610 13th P1 N 763-473-0268 952-931-4334 612-310-9039 55447 Email: fames krocak@hotmail.com Property ID: 28-118-22-44-0069 Purchase Date: 12/14/2012 Property Address: 14 610 13th P1 N Purchase Price: 4 2 2, 0 0 0 Was it listed for sale? Yes X No Was the property a foreclosure, short sale, purchased from a friend or relative, or a relocation sale? If yes, please 2013 Assessor's Estimated Market Value: 5-5-3 %2-" ,I 4K) ), Additions, renovations, or improvements since purchase: None, just purchased Cost of improvements since purchase: N/A Owner's opinion of Estimated Market Value as of January 2, 2013 TBD What are the reasons or Values of comparable homes (from documentation supporting the purchase) and other neighboring homes owner's opinion of market value? do not show similar valuation increases Please attach supporting (see attached spreadsheet) Documentation) James and Heidi Krocak - Email considered signature Signature of applicant Date 4/9/2013 Page 122 123 Colo oo o0FDo viimclsIr U, p p u m m p toM V Vp 40 Q N N N 4 o co NN m u N O mwco am m0 N O N Q> O mNr W O fDr- W O N W W m m VT W O c) 't es tam64 C Nr co4 a0N ID OQ O M SmON r oc r Orl N r gr0 m N Nyrmv N mW, ea N6v 64 mv3 vs X Y d r m U N 4 N.n O a O O m O o o 0 pptcr m a w c co viae vao Q M f~'1 tl 1'] m lam'] m gym} V3 V3 4R V3 N3 fPr Y a N W4 C m N co p p m o m m p W v Wa o o Itb ONMn O coNm Om m 47 m cf 47 m W V M co f:3 T fH v3 ui V) WwN N m N N p W N O Lo r CC Oa O m m N co O o m aoU] O O DOm a W L6 N c ta Lo m 1!o M OM M m M M m N u! f9 f9 ui 63 YB m N ID O a0 o 0 0IDO Cm] m m cc m W m m N D SDOasLo Q f9 o co w K] K]Ni o amm O rn 49 Q OrO N N o i,.fD O W C C m o w Eoa s a O N O M ON pp O O -nMMW O co WmW O Omm M r- nE r` O W W m m ri Ki TCm N E ff3 m H) V m W a 7 W a sfHrN p N U m M N m N omo a v oma a Lo ors 4 Zogm m F(Dm o w ON aac, vs p mp pN r -r` cvqN . o r viN o r o m m W Lcrini ri W W 69 orcoh VCfa V6g r m Mb4V] m mH-] fR m mFRH] Ei N N N Scc U N Wro Y r 7 N G O O N p o m h a O M O1arr) OO Na O m wDcm O VWmro a r- LDW Y N o6 N N p t M V1 N O [n MDoNNCaulmm6gm 61 LOVLL N m H6m m o 0 N o N a m to p m m o lD 0 r. Lu p N o m r O d- W O N ep0 oeDm N Di N aN ro r`P-nNtip 6m Lo>n m n n 00 n tot' N r N w o Vi Ul d' 6% O a 0 60 coH] fR SR V] OL H N M L a a s m a m o is A2 u a v wm m7 7wO N? N W o Vj N M a N 2 NNr! M c- 2vN3 y NN F NQIL0) Ol W WQ Y C 7 M r m o N N N n (Q cu l p N M 4Z O N N ITO CUpwllffNcoco) Q a R Lu a_ N ow a N W F ft 123 M1 - M r Y Ozv E x A Z U d m L o 4 ~ m co rL CL QaO 0 0 0 O O a lD c m m m O S M1m N j N Q NN LN b It4R VT M1 64 L1v 0 oC> m 0 LO m Nh O z 4 to v c o 0 0 o a p 00 H ai epm ori re N m u3 N M On m N N mCl) m q N r oO ON OM1 fA 6m 4 fR N t6o Y00 c2m2" o 0 O o m 0 pa' E ti mEomNVmNN a o7 mm m uUJ m 6% FA 64 Y} R T N m O N N a z co It ty d o 0 y a o ticop 0 00 00 m o eoe M1 m q C4 a N h m m m m wi J 4 us r tl) V3 V3 vs e3 v mti p ti O o6 od 00 G o y m N m tp t m cel r W v N ff} 4& o o O N 0 O O yyNn 0 LZ C to N O O p v O m O M M1 try N r i 16 N Z N C] a lD c m m m m N Q IVE. ym} N qm a p cwEC) U O FR N N ttimN M1 64 w to m 0 LO m Nh O z 4 c c c pm W D m N On On m N N mCl) m mco r N 6qO10 64 fA 6m 4 fR N ry Y00 c2m2" o 0 O o m 0 pa' E ti mEomNVmNN a o7 mm m 6% FA 64 Y} V} ko m z m d o 0 0 0 0 0 LU MOO M1 O g N a O HmNN us r vs vs e3 v O A emi I OUEJ Ma€ASRUIN Page 124 N C] a lD m m m m NaaClm LL 4 c c c pm W D m On Qom} n f0N > aaf mto > Nt h > d U] N d a n U)D a a w pvw Nti N O A emi I OUEJ Ma€ASRUIN Page 124 rpicity of Agenda Pl/m0uth Number; Adding Quality to Life To: Local Board of Appeal and Equalization LOCAL BOARD OF APPEAL Ft Prepared by: Janene Hebert, City Assessor EQUALIZATION MEETING Appeal in Writing April 23, 2013 Item: Thomas Benny 12-118-22-23-0037 10725 51't Avenue, PIymouth MN 1. ACTION REQUESTED: Approve the reduction from $333,300 to $328,600. 2. BACKGROUND: Thomas Benny appealed in writing to the Local Board of Appeal on April 9, 2013. The property was purchased by Thomas Benny on a short sale, September, 2012 for $280,555 with an additional $8,416 in seller contributions. Plymouth appraiser Paul Kingsbury met Thomas Benny on April 10, 2013 at 10725 51 st Avenue, and performed an interior inspection of the property. After the inspection, Paul Kingsbury identified three comparable sales and adjusted them to the subject. After consideration to the style of home and level offinish, the value was reconciled to $328,600. Paul Kingsbury contacted Thomas Benny to discuss the comparable sales; Mr. Benny acknowledged he purchased the property below the market and agreed on the reduction from 333,300 to $328,600. Page 125 City of Plymouth Assessing Division 2013 Local Board of Appeal and Equalization Assessment Application 3400 Plymouth Blvd Plymouth, MN 55447 Phone: 763-509-5360 Fax: 763-509-5060 Email: assessing@plymouthmti.gov Date Returned: Received via: Date Withdrawn: Withdrawn via: Dist Nbad Appraiser Date: J Home Number: 6_) Work Number: Cell Number: ) Owners Name(s) 4 t Fax Number: 154L Address:—) 9:5 Zip Code: 71 }tel " Email: N Property ID: q . ! - chase Date: k Property Address: „C . n Purchase Price: Was it listed for sale? Yes No Was the property a foreclosure,,0ort e,purchased from a friend or relative, or a relocation sale? If yes, please 12013 Assessor's Estimated Market Value: l ) Additions, renovations, or improvements since purchase: Von _. Cost of improvements since purchase: Owner's opinion of Estimated Market Value as of January 2, 2013 What are the reasons or documentation supporting the owner's opinion of market value? Please attach supporting Documentation) Signature of applicant Date Page 126 rp)City of Agenda Plymouth Number: Adding quality to Life To: Local Board of Appeal and Equalization LOCAL BOARD OF APPEAL Ft Prepared by: Janene Hebert, City Assessor EQUALIZATION MEETING Appeal in Writing April 23, 2013 Item: David and Beth Brown 04-118-22-44-0033 5605 Glacier Lane, Plymouth, MN 1. ACTION REQUESTED: Approve the reduction. from $793,000 to $720,000. 2. BACKGROUND: CI David and Beth Brown contacted the assessing office via email on April 9, 2013 requesting that their 2013 value be reviewed. Cindy Bowman contacted the Browns immediately to set up an appointment for the review of the property. Due to timing, the Browns chose to file a formal appeal to the Local Board of Appeal and Equalization. Cindy Bowman inspected the home on April 10, 2013 with Beth Brown. The re -finance appraisal which had an opinion of value of $720,000 as of February 8, 2013 was provided for her review. The property has been on the market for one year, with the most recent list price of $724,900. The owners took it off the market on October 31,2012. In researching sales, Cindy Bowman found there were no sales of properties in Glacier Vista during the last year, so she used two sales of comparable properties that had a similar age to theirs as well as two sales of new construction homes. Three of the four sales were the same as those in the re -finance appraisal. The average adjusted sale price on the similar age homes was $723,302, similar to the opinion of value from the recent re -finance appraisal. Cindy Bowman contacted David and Beth Brown on April 10, 2013 informing them ofher recommendation from the reduction from $793,000 to $720,000, they agreed with her recommendation. Page 127 City of Plymouth Assessing -Division- 2013 Local ssessing-Qiuisio— 2013-Local -Board-0f-Appeal -and-Equalization--.Assessment-Application. 3400 Plymouth Blvd Plymouth, MN 55447 Phone: 763-509-5360 Fax: 763-509--SO-60 Email: assessing@plymouthmn.gov Return this form to the City of Plymouth Assessing Date Returned: Received via: Date Withdrawn: Withdrawn via: Office Use Only Division no later than April 5.2©13. By submitting this application your appeal will be entered into the record. You are not required to attend the Board Dist Nbad Appraiser. meeting. Owners Name(s) + Ql;—a/ Ooty j Home Number: 76 3 t- 6 3 9 SZO Work Number: e S 33 I Cell Number: Fax Number: Address: 5 G S Cil Gt 1 k LcJ. rJ . %'G Ym oLIW Zip Code: 5-3Zt Lr - Email: GlCz Property ID: _ i Z Z f ' by 33 Purchase Date: S Z e S Property Address: o`(i Purchase Price: c 7 L a d" Was it Iisted for sale? YesNo Was the property a foreclosure, short sale, purchased from a friend or relative, or a relocation sale? If yes, please explain: tj 0 2013 Assessor's Estimated Market Value: 7 Lal, ° Additions, renovations, or improvements since purchase: e Cost of improvements since purchase: Owner's opinion of Estimated Market Value as of January 2, 2013 What are the reasons or {Ir MP, 11, iz O F 0p/LA L LIC G/#'147) ° documentation supporting the ?-,)(.3 FOP, owner's opinion of market value? W f1C L (.5 6 r, o` F ' °' ! `l 7u WC Zo , Z Please attach supporting /FJKNAZ POZI cr J-7201-,1' 'r,, Eice pJJ C FFAS. L(OUa J)na (A\ Documentation) L 16 6 5A"z-C . i Signature of applicant Date `3 f 3 Page 128 Janene Hebert From: Cindy Bowman Sent: Tuesday, April 09, 2013 1:59 PM To: Webmail - Assessing Subject: RE: Question on tax assessments for 2014 Importance: High Beth, spoke with Dave this morning. He was going to send me, via e-mail, a copy of your finance appraisal to review this morning or early afternoon. If Dave is unable to send the appraisal via email soon, your e-mail suggests you could drop off a copy of it for me. I am wondering if this possible. Based on the MLS listing of your home and the length of time it was exposed to the open market, along with my review of the comparable properties listed on your finance appraisal, as well as the comparable sale properties I pulled this morning, I am hopeful, even at this late date that we will be able to come to an agreement on an adjusted value prior to tonight's formal Board of Appeal and Equalization meeting. Thank you for prompt attention. Cindy Cindy Bowman I Residential Appraiser City of Plymouth Phone: 763.509.5353 From: Janene Hebert On Behalf Of Webmail - Assessing Sent: Tuesday, April 09, 2013 9:32 AM To: Cindy Bowman Subject: FW: Question on tax assessments for 2014 Have you turned Glacier Vista over yet? From: Beth Brown [mailto:dbga2006Calyahoo.com] Sent: Tuesday, April 09, 2013 8:12 AM To: Webmail - Assessing Subject: Question on tax assessments for 2014 Hello, can someone tell us the process for disputing the 2014 property tax assessment? A few weeks ago we received the assessement for 2014 taxes and our home (5605 Glacier Lane N, Plymouth 55446) is listed at about 790K. From discussions last summer (can't remember who we spoke with in the assessors office), the value is appraised in January each year for the following year's taxes. We have just refinanced our home and had an appraisal done in late Jan 2013 that gave the value at $720K. How can we use this appraisal to correct the city assessment? Do I need to stop by to fill in a form and drop off a copy of the appraisal? Thanks! Beth and Dave Brown Horne 763 463 9520 Dave's Cell 206 538 8249 Page 129 rp)City of Agenda Plymouth Number: Adding Quality to Life To: Local Board of Appeal and Equalization LOCAL BOARD OF APPEAL Et Prepared by: Janene Hebert, City Assessor EQUALIZATION MEETING Appeal in Writing April 23, 2013 Item: Paul and Paula Caryotakis 19-118-22-34-0024 18615 29th Avenue, Plymouth NI V 1, ACTION REQUESTED: Sustain the 2013 market value of $363,900. 2. BACKGROUND: 61 On March 27, 2013 Josh Doty, Senior Planner, received a letter and a copy of a letter addressed to David F. Peterson requesting an adjustment to the market value of 18615 29`h Avenue North, Plymouth MN. On April 3, 2013 Janene Hebert contacted Paul Caryotakis to acknowledge the letter and explain the process and asked if they wanted to formally appeal their market value. A copy of the letters and corresponding email responding to the value question is attached. It is recommended that the Local Board of Appeal and Equalization sustains the 2013 market value of $363,900 because access to the property was denied August 19, 2012 and Paul Caryotakis did not respond to the email sent on April 3, 2013. Should the owner choose to appeal to the County Board ofAppeal and Equalization, his option remains open. Page 130 Janene Hebert From: Janene Hebert Sent: Wednesday, April 03, 2013 12:12 PM To: 'caryop@ymail.com' Cc: Dave Callister; 'James .Atchison@co.hennepin.mn.us'; Josh Doty; David. F.Peterson@co.hennepin.mn.us'; Paul Kingsbury Subject: 2013 Valuation Notice Paul, Thank you for contacting the City of Plymouth with your concerns. I was provided a copy of your recent letters to both Josh Doty and David F. Peterson in which at the end of the letter you are requesting the County to reduce your value. The first step to appealing your value is to contact our office. If you would like your property reviewed, an appraiser from our staff will call you to discuss your value and set up an appointment to do an inspection. If you do not agree with the appraiser, you will have an opportunity to appeal to the Local Board of Appeal and Equalization on April 9"', 2013. If you are asking for the 2012 value (for taxes payable in 2013) be reduced, you have until April 30, 2013 to file a tax court petition. The link for instructions for filing Property Tax Petitions in Hennepin County: ham://www.hennepinattorney.org/Divisions/AdministratioiiCivil/TaxPetitions/tabid/58/Default.aspx and the link to the MN Tax Court for the forms (Form #7) to use: http://www.taxcourt.state.mn.us/ If you would like to discuss the process or appeal your value, please let me know. Thank you, Janene Hebert, SAMA I City Assessor City of Plymouth Phone: 763.509.5352 Plymouth, Minnesota I Adding Quality to Life Page 131 Josh Doty Senior Planner City of Plymouth 3400 Plymouth Boulevard Plymouth, MN 55447 Caryotakis Division [19 118 22 34 0024 & 0033] Dear Mr. Doty, Last summer, you were very helpful to us in our attempt to go through the process of purchasing a small section of property from Pat and Sandy Callanan, our neighbors to the south. At that time, we presented you with an updated survey that showed the new property lines, as they would appear after the transfer. Unfortunately, the Callanans asked to be released from the sales contract [the attached letter explains the specifics]. If you still have the copy of the updated plat survey, it is no longer valid and can be discarded. We plan to hang onto it in case things change and we are able to eventually make the purchase. At such time, we will give you another copy. Thank you very much for your consideration. regards, 1 C g,-i 46v CL Le, V1 , 4 7 2013 Orr 4F R'Ncurd CCMMUN1rtQ rr.l44 4'EPAi"NENT Page 132 David F Peterson Property Identification Supervisor Property Tax Division Hennepin County CC: Josh Doty Senior Planner City of Plymouth 3400 Plymouth Boulevard Plymouth, MN 55447 Caryotakis Division (19 118 22 34 0024 & 0033) Dear Mr. Peterson, Thank you for your assistance last May with the proposed deed conveying a section of the Callanan parcel (18610 27th Ave N) to Caryotakis (18615 29th Ave N). I am writing to let you know that we have been obliged to abandon the land purchase agreement for a piece of the pond front. I would also like to make you aware of ongoing problems with the property lines that detract from the value of our residence and seriously impact our enjoyment of the property. In October, the Callanans received a letter from their mortgage lender, Chase, which presented a long list of actions required to complete the transfer. In addition, Chase demanded a fee of 300. Although we had addressed most of the items raised by Chase, the Callanans asked to be released from the agreement. This was the last of several complications and the Callanans decided that they wanted to be released from the contract. Shortly after we signed the land purchase agreement in April 2012, our neighbors, the Macks 18620 27th Street N), had contacted the Callanans and demanded that they terminate the sale.. Mr. Callanan described two long conversations in which the Macks reportedly attempted to make a counter-offer to purchase the pond front and threatened to sue the Callanans if they went through with the sale to us. I do not know whether there have been further conversations between the Macks and Callanans, but the letter from Chase apparently led the Callanans to request that they be released. This ends our efforts to correct problems with the property lines, The original property lines were drawn without respect for the actual placement of the pond. The narrow strip of land along the north side of the pond belonged to the house at 18610 27th Ave N, on the south side of the pond. Families living on the south side of the pond did not benefit from ownership of the northern pond front. In 1973, the residents of 18620 27`h Street N arranged to purchase a portion of the adjacent lot 11 (18610 27th Avenue N) to augment their property. The plat of survey posted on the Plymouth website (see attached) shows lot 12 (18620 27th Street N) divided into Parcel A and Parcel B. If this was an effort to subdivide the property, it was apparently never approved. The western section of the pond front purchased from lot 11 was, however, combined with lot 12. The residents of 18620 27`h Ave N have never shown a commitment to maintaining the pond front. Over the past 30 years or more, residents of our house on the north side of the pond have routinely mowed the grass between our house and the pond without any apparent objection. When my family purchased 18515 29" Ave N in 2003, the house was advertised as pond -front property. Based on guidance from the previous residents, I continued to mow the grass all the Page 133 way to the edge of the pond. I did this for six years, from 2004 through 2003, before I researched the property lines and realized that much of the pond front was actually divided between two houses to the south. In 2010, we chose to plant a native plant garden along the pond front to replace the various grasses and weeds. The Callanans granted us permission to do this on their section of the northern pond front. The Macks demurred and indicated that they had other plans. We suggested that they mow the grass and asked that they assume responsibility maintaining that section of their property. A conflict developed in 2011. The westem section of the pond front had been largely ignored and weeds had taken firm root displacing the grass. I resumed mowing. Mr. Mack challenged me and ordered me off the property. Later he filed a no trespass order against me. He refused to mow the grass and requested a fence permit from the City of Plymouth. We objected to the fence permit and asked for mediation. Mr. Mack constructed a 6 foot tall solid fence blocking our view of the pond (see attached). I believe that this constitutes a nuisance fence and violates 561.02 of Minnesota state statute. I feel that Plymouth should never have granted the permit. The Macks have refused to communicate with us. After they rejected mediation, I sent an email to the Macks offering to buy the pond front or to pay for a landscaping easement. The Macks accused us of harassing them and we received a phone call from Plymouth police telling us to never contact them again. Recently, the Plymouth police contacted us again to say that the Mack's are continuing to pursue criminal allegations against us. I greatly appreciate the cautious approach taken by Plymouth and Hennepin County in considering the proposed land purchase from the Callanans. I only wish that there had been similar practices in place back in 1973. l can only hope that a subdivision of the Mack property into two lots would be denied. The property fines have become a major problem and have undermined the value of our property. We now live with a nuisance fence, which expresses the animosity of our neighbor, and their ongoing harassment. There is no protection for native plants that we have cultivated on the Calianan section of the pond front. The Macks have a gate that opens to this section of pond front. Mr. Mack has destroyed our plantings in the past. If there is anything that Hennepin County or the City of Plymouth can do to help us resolve this situation, it would be welcome. If we must live with the current property lines, I feel that the County should reduce the valuation of our property. The property is scarred by a nuisance fence that destroys the view. It will now be difficult to sell this property for its full value. Please let me know how to proceed in requesting this adjustment. Thank you Paul Caryotakis 18615 29'" Avenue North Plymouth, MN 55447 carvOD'eymail.com Page 134 Page 13 5 Page 136 rpc ty Of Agenda Pl;oath Number: Adding Quality to life To: Local Board of Appeal and Equalization LOCAL BOARD OF APPEAL Et Prepared by: Janene Hebert, City Assessor EQUALIZATION MEETING Appeal in Writing April 23, 2013 Item: Korneliy and Larisa Ureke 24-118-22-43-0045 2635 Nathan Lane, Plymouth MN 1. ACTION REQUESTED: Approve the reduction from $657,600 to $608,900. 2. BACKGROUND: Korneliy Ureke appealed to the Local Board of Appeal on April 9, 2013 The property has been listed on the market for over a year and the price has been reduced several times. Plymouth appraiser Tamara Anderson met Korneliy Ureke at 263 5 Nathan Lane on April 10, 2013. After the inspection, Ms. Anderson identified comparable sales and adjusted them to the subject. The reconciled value of $608,900 was presented to Mr. Ureke on April 11, 2013 and he agreed to the value. Page 137 City of Plymouth Assessing Division 2013 Local Beard of Appeal and Equalization Assessment Application 3400 Plymouth Blvd O fe Use Only Plymouth, MN 55447 Date Returned: is Phone: 763-509-5360 Fax: 763-509-5060 Received via: Email: assessing@plymouthmn.gov Date Withdrawn: Return this .form to the City of Plymouth Assessing Withdrawn via: Division no later than Anril 5.2013. By submitting this application your appeal will be entered into the record. You are not required to attend the Board Dist Nbad Appraiser meeting. Date: ' s / — / Home Number: Work Number: Cell Number: rl ZOwnersName(s) Fax Number: Address:L` Zip Code: g Lr / Email: Property ID: a Purchase Date: Property Address: Nam ULi Purchase Price: Was it listed for sale? Yes No Was the property a foreclosure, short sale, purchased from a friend or relative, or a relocation sale? If yes, please explain: 1 2413 Assessor's Estimated Market Value: ` Additions, renovations, or improvements since purchase: Cost of imPTO nts since purchase: l„(90, !- 0 Owner's opinion of Estimated Market Value as of January 2, 2013 What are the reasons or documentation supporting the owner's opinion of market value? l Please attach supporting Documentation) Signature of applicant Date 0(, Page 138 Korneliy Ureke 2635 Nathan Lane N Brooklyn Park, MN 55447 April 8, 2013 City of PLYMOUT14 Assessor 3400 Plymouth Blvd Plymouth, MN 55447 CC: HENNEPIN COUNTY TREASURER A-600 Government Center Minneapolis, MN 55487-0060 Attn.: TAXATION To Whom It May Concern: We are writing to appeal the recent re -assessment ofthe following property: 2635 Nathan Lane N, Plymouth MN 55447 Property ID: 24-118-22 43 0045 This property (our primary residence) was re -assessed. However, we believe that the new assessment in that our property has been assigned a value well in excess of fair market value. What follows is our reasoning, based on a recent comparable sales directly located in proximity of up to 1 mi to our property. According to county records, our property has the following characteristics: Square footage above ground -- 4,472, Lot acreage —.46 acr, Style — 2 story, Assessed Value - 657,600 The comparable properties located at the same neighborhood have similar characteristics (please see attached Market Analysis): Square footage above ground — 2,400- 4,153, Lot acreage — regular city lot, Style — 2 story, Sale Price - $430,496 -- 627,000 As you can see, these properties have equivalent lot sizes, but the latter has more or less heated square feet above ground and the same location, interior finishes, asphalt driveway and other characteristics. In the matter of fact, the property was on the market since March of 2012, and remains unsold at the price of 648,000 that is below assessed price. Given that the assessed value of our property is substantially higher than the fair market price of a more valuable property located directly next door, we believe that an adjustment is in order. Thank you for your time and attention to this matter. Sincerely, Korneliy Ureke Attached: CMA, Chase Home Estimator, Comparable Sales by Real Estate & Zillow, Map Page 139 2635 Nathan Ln N Plymouth, MN 5544. The home value by address for 2635 Nathan Ln N Plymouth, MN 55441 may have been Calculated from sold prices, public records of assessed value, and Plymouth, MN real estate information. Property details include home value: $611,600, bedrooms: 5, bathrooms: 3.25, and lot size. Qc 2013 Microsoft CorporationPictometry Bird's Eye © 2012 MDA Geospatial Services Inc. 61.1,,600 *est. value 2635 Nathan Ln N Plymouth, MN 55441 Est. Value for 2635 Nathan Ln N Plymouth, MN Estimated Value: $611,600 Monthly Value Change: $0 Last Updated: 04/04/2013 Bedroom(s): 5 Bathroom(s):3.25 Square Feet: 0 Lot Size: 20,038 Property Type: Single Family Home Year Built: 2008 Monthly Est. Mortgage: $2,778 Monthly Est. insurance: $178 Monthly Property Tax: $953 Page 140 2635 Nathan Ln N Plymouth, MN 55441 The home vafue by address for 2635 Nathan Ln N Plymouth, MN 55441 may have been calculated from sold prices, public records of assessed value, and Plymouth, MN real estate information. Property details include home value: $611,600, bedrooms: 5, bathrooms: 3.25, and lot size. UN 2013 Microsoft CorporationPictometry Bird's Eye © 2012 MDA Geospatial Services Inc. 611,600 *est. value 2635 Nathan Ln N Plymouth, MN 55443. Este Value for 2635 Nathan Ln N Plymouth, MN Estimated Value: $611,600 Monthly Value Change: $0 Last Updated: 04/04/2013 Bedroom(s):5 Bathroom(s).3.25 Square Feet: 0 Lot Size: 217,038 Property Type: Single Family Home Year Built: 2008 Monthly Est. Mortgage: $2,778 Monthly Est. Insurance: $178 Monthly Property Tax: $953 Page 141 Monday, April 8, 2013 Summary of Comparable Listings This page summarizes the comparable listings contained in this market analysis Active Listings Address Price Bds Bth TFSF JSq Built Style List Date DOM CDOM S=2635 Nathan Ln N 648,000 5 5 5,672 114 2009 Two Stories 0111812013 79 327 4284 Deerwood Lane 495,000 5 4 3964 125 2002 Two Stories 02/05/2013 61 61 3200 Nathan Lane 659,000 5 5 4583 144 2004 Two Stories 01/03/2013 94 2251455W. Medicine Lake Drive Drive 699,900 5 4 3200 219 2013 Two Stories 03/12/2013 26 Averages: 617,967 5.0 4.3 3916 162 2006 60 143 Pending Listings Address Price Bds Bth TFSF JSq Built Style Off Market DOM CDOM S=2635 Nathan Ln N 648,000 5 5 5,672 114 2009 Two Stories 0119812013 79 327 3050 Quinwood Lane 500,500 5 4 4188 120 1991 Two Stories 03/05/2013 74 229 Averages: 500,500 5.0 4.0 4188 120 1991 74 229 Sole! Listings Address Price Bds Bth TFSF ISq Built Style Sold Date DOM CDOM S=2635 Nathan Ln N 648,000 5 5 5,$72 914 2009 Two Stories 0111812013 79 3274280DeerwoodLane430,496 5 4 4002 108 1995 Two Stories 05/02/2012 21 21 12720 31 St Avenue 519,900 5 4 4487 116 1991 Two Stories 03/13/2012 16 16 3105 Pineview Lane`'} 521,500 7 6 5353 97 1991 Two Stories 12/20/2012 276 4581501552NdAveN.a,t`,;; 1;,!t ' 627,000 4 4 3266 192 2012 Two Stories 01/01/2013 2 Averages: 524,724 6.3 4.5 4277 128 1997 79 165 Median of Comparable Listings: $520,700 Average of Comparable Listings: $556,662 On Average, the 'Sold' status comparable listings sold in 78.75 days For $524,724 INEERAPAPP"- Page 142 CMA Comparables This page outlines the subject property versus comparables properties. Subject Property 100x200 2635 Lathan Ln N MLS# 4329932 Status Active Sch Dist 281 - Robbinsdale List Price 648,000 Sold Price 2 S. Cntrbtn Bsmt Off Mrkt Full, Finished (Livable), Day/Lookout Dt Closed Livable), Drain Tiled CDOM 327 Beds 5 Baths 5 Style SF) Two Stories Aber Sqft 4,472 Bleu Sqft 1,200 Total Sqft 5,672 Grg Stis 3 Prk Char Attached Garage, Insulated Garage, Year Built 2009 Lk/Wt Lk/WF Pim Details 4284 Deerwood Ln N 4333875 Active 281 - Robbinsdale 495,000 61 5 4 SF) Two Stories 2,996 968 3,964 3.00 Attached Garage, Driveway - Asphalt, Garage Door Opener 2002 Lot Sz 100x200 SW86x111x132xl46 Acres 0.46 0.30 Fdtn Size 1,910 1,508 Ext Shakes, Brick/Stone, Cemen Metal/Vinyl, Brick/Stone FP 2 1 Bsmt Walkout, Full, Finished Full, Finished (Livable), Day/Lookout Livable), Drain Tiled Windows Amenit Patio, Porch, Natural Deck, Kitchen Window, Vaulted Woodwork, Kitchen Ceiling(s), Ceiling Fan(s), Hardwood Window, Vaulted Floors, Tiled Floors, Walk -In Closet, MENEr_. APAPPP F Details 3200 Nathan Ln N 4326112 Active 281 - Robbinsdale 659,000 225 5 5 SF) Two Stories 3,610 973 4,583 3.00 Attached Garage, Driveway - Concrete, Garage Door Opener 2004 IRREGULAR 1.88 1,398 Brick/Stone, Cement Board 1 Walkout, Full, Finished (Livable), Drain Tiled, Sump Pump, Poured Concrete Deck, Porch, Natural Woodwork, Kitchen Window, Skylight, Ceiling Fan(s), Hardwood Floors, Tiled Page 143 CMA Comparables This page outlines the subject property versus comparables properties. Subiect Property 4,472 2635 Nathan Ln N MLS# 4329932 Status Active Sch Dist 281 -- Rcbbinsdale List Price 648,000 Sold Price Attached Garage, S. Cntrbtn Off Mrkt Dt Closed 2009 CDOM 327 Beds 5 Baths 5 Style SF) Two Stories Details 1455 W. Medicine Lake Drive Dr 4343931 Active 284 - Wayzata 699,900 5 4 SF) Two Stories Abv Sgtt 4,472 2,400 BIw Sqft 1,200 800 Total Sqft 5,672 3,200 Grg Stls 3 3.00 Prk Char Attached Garage, Attached Garage Insulated Garage, Year Built 2009 2013 Lk/Wt Lake View, Dock Lk/WF Nm Medicine Lake LotSz 100x200 100x131 Acres 0.46 0.29 Fdtn Size 1,910 1,200 Ext Shakes, Brick/Stone, Cemen MetaiNinyl, Brick/Stone FP 2 1 Bsmt Walkout, Full, Finished Walkout Livable), Drain Tled Amenit Patio, Porch, Natural Woodwork, Kitchen Window, Vaulted mmmmm-.RMAPPP Monday, Apri! 8, 2013 Details 3050 Quinwood Ln N 4324560 Pending 284 - Wayzata 500,500 03/05/2013 229 5 4 SF) Two Stories 3,040 1,148 4,188 3.00 Attached Garage, Driveway - Concrete, Garage Door Opener 1991 68X167X140X155X75 0.52 1,487 Wood, Stucco, Brick/Stone 1 Walkout, Full, Finished (Livable), DaylLookout Windows, Egress Windows, Concrete Block Deck, Patio, Natural Woodwork, Kitchen Window, Vaulted Ceiling(s), Ceiling Fan(s), Hardwood Floors, Page 144 CMA Comparables This page outlines the subject property versus comparables properties. Subiect Property 4,472 2635 Nathan Ln N MLS# 4329932 Status Active Sch Dist 281 - Robbinsdale List Price 648,000 Sold Price Attached Garage, S. Cntrbtn Off Mrkt Dt Closed 2009 CDOM 327 Beds 5 Baths 5 Style SF) Two Stories Details 4280 eerwoed Ln N 4131302 Sold 281 - Robbinsdale 450,000 430,496 04/05/2012 05/02/2012 21 5 4 SF) Two Stories Abv Sqft 4,472 2,791 BIW Sqft 1,200 1,211 Total Sqft 5,672 4,002 Grg Stls 3 3.00 Prk Char Attached Garage, Attached Garage Insulated Garage, Year Built 2009 1995 Lk/ Wt Lk/WF Nrn LotSz 100x200 88X146X30X104X136 Acres 0.46 0.40 Fdtn Size 1,910 1,360 Ext Shakes, Brick/Stone, Cemen MetalNinyl, Brick/Stone FP 2 2 BSrnt Walkout, Full, Finished Waikout Livable), Drain Tiled Amenit Patio, Porch, Natural Deck, Natural Woodwork Woodwork, Kitchen Window, Vaulted MEMENRAMP"- Details 12720 31st Ave N 4112121 Sold 284 - Wayzata 519,900 519,900 5,000 01/20/2012 03/13/2012 16 5 4 SF) Two Stories 3,067 1,420 4,487 3.00 Attached Garage, Driveway - Concrete, Garage Door Opener 1991 103x103x111x165 0.30 1,519 Wood, Brick/Stone 4 Walkout, Full, Finished (Livable), Drain Tiled, Sump Pump Deck, Natural Woodwork, Kitchen Window, Hardwood Floors Page 145 CMA Comparables This page outlines the subject property versus comparables properties, Subject Property 4,472 2635 Nathan Ln N MLS# 4329932 Status Active Sch Dist 281 - Robbinsdale List Price 648,000 Solei Price Attached Garage, S. Cntrbtn Off Mrlct Concrete, Garage Door Opener Dt Closed 2009 CDOM 327 Beds 5 Baths 5 Style SF) Two Stories Details 3105 Pineview Ln N 4129858 Sold 284 - Wayzata 570,000 521,500 10,500 12/11/2012 12/2012012 458 7 6 SF) Two Stories Abv Sqft 4,472 4,1513 Blw Sqft 1,200 1,200 Total Sqft 5,672 5,353 Grg Stls 3 3,00 Prk Char Attached Garage, Attached Garage, Driveway - Insulated Garage, Concrete, Garage Door Opener Year Built 2009 1991 Lk/ Wt Lk/WF Nm LotSz 100x200 141X55X105X125X73 Acres 0.46 0.40 Fdtn Size 1,910 1,910 Ext Shakes, Brick/Stone, Cemen Wood, Brick/Stone FP 2 1 Bsmt Walkout, Full, Finished Full, Finished (Livable), Drain Tiled, Livable), Drain Tiled Sump Pump, Day/Lookout Windows Amenit Patio, Parch, Natural Deck, Porch, Natural Woodwork, Woodwork, Kitchen Kitchen Window, Skylight, Vaulted Window, Vaulted Ceiling(s), Ceiling Fan(s), Hardwood IVIU1 ivay, MpfI1 O, LU 13 Details 15015 52ND AVE N 4177652 Sold 279- Osseo 617,000 627,000 10,000 07/31/2012 01/01/2013 4 4 SF) Two Stories 3,266 0 3,266 3.00 Attached Garage 2012 0 0.00 1,405 MetalNinyl, Brick/Stone 1 Walkout, Full, Drain Tiled, Sump Pump Patio, Natural Woodwork, Hardwood Floors, Tiled Floors, Walk -In Closet, Washer/Dryer Hookup, In -Ground Page 146 List Price and Sale Price This graph illustrates the list price, along with sale price in Sold listings. 700K 600K 500K 400K 300K 200K IOOK OK Price Graph MLS# mum I JC1Y, r+pnl a, zu-I.3 i ist Price Sala Price Page 147 Nor h 5tai' ! `S Property Reporti=1>t yawl Inh,nnarian. For yaur Surwss. Estimated Hoene Values 7 T 6R55 11je%v HL)Pr-- Cly ta Ilc:l t!nK.,ulu 2635 Nathan Ln N PiytnOttth Par'- - i 648k i Z u x 9r •F IVIG lCl• .h' I• X Golden i 2 Valle, t3lsor` ivSemlarr._ Htvy ,. Y 12 a it - MAN acv. tdDlc $450k $21)w This map layer shows the mtierage estimated home values, based on the AVMs and RVMs(Dfor properties in an area. Source(s): LPS and RPR; updatedQuarterly. 12 -Month Change in Estimated Value 17' 131 _h e - Jt 'ar.' 1) 'cA r}u. _ ,-a - 2 ' r _. rr r -fit. I ti !•dr=v 'POP, N—; 23 a p' r:! il24, Ilk 11 r W48k I ]} Fl Aa $._ e_ t o i. Ci,lL. a E ri t c ad17 i i-• ' — # a 51311@j/ t . F r 11,10;n , r -I- 54 i dat 73 41 a fG 5' I IV. I I rI tl rayzlata) Z: rt w l I jUI7--µ4 •r ` ty r j e d This map layer shows the change in estimated home values oyer the past 12 months, Lased on the AVMs andP.VMs® for properties in an area, Source( s): LPS and RPR; updated Quarterly. Capyright20]3Peal lorsPropertyRe uraerJLLK4C. AJlRghtsrued. Information is not guaranteed. Equal Housing oppottunily. page 148 4/8/ f Nvrthslarml.... PropertyFurvowInrurmaliun. I'm yum Success. Report 2635 Nathan Ln N Estimated Value per Square Foot l eek' i 61z I v Pp, r lts 1U4 Ijj I_L.•.cE l: 01h Alc N 7 i 1012 bNow 55Old RI °nYorq U Hope 9 II T - I Crystal l obbinsdale Yer-u_tl I i 1i aogiul3CthAve N? 1Plymouth .T Park 1;,.... 24 69811-I 70 if INly L' Mi3tliCinq Lake€ ii Q afUil i j 11 I, Golden a I I'4 u Veil ley ols f` Merl'rnrlot Hwy 5 a ; 12 73 Glel1ocrfAve Minn sir O:r ISdiz # 1Z F"-- - i f 1 fY• 70G .. - 425 $200 ((1,1100 This map layer shows average estimated value per square foot of homes, based on the AVMs and RVMs® for properties in an area, Source(s): LPS and RPR; updated Quarterly. Flood Zone 61 156'nl Ah:CST=:: r; 1: 315 • - 101 .. - '•:9,k:•.C,S 49701 Avc tJ ; 1i60 , cpillf cis n New Hope R1U2 rr Heic 55 rl forq 9_. Crystal (IRobbinsdale u' •t= 23 361h Ave N' q 1lffm :7,LrlI; p.lri{ J ,,...".,'„Cit€ 14oR-II p ,•e'si3+rT14lIttT - r'r NLowry Avc - 153 n 646k:70 II Z r4fj i•'art,r.r 6 f f 66 , --&i`I i. i.ake tf ? Medicine Lakel ? Thkudom-' s ! 1 '`'r Sft` K V1ill 111 C hlL -.n I'3:1%7I, Golden w•},. IT d h Valley Olson Mernarial Hwy z 55 1 112 1 l?12 -- 73 ..; a0tdA.e i,R;I:iCJ , IY[ir3eaprIGe ! sell FV Wayzatax 12 'L_-=- _. . -- ' • -..------Oak Knoll, ___U- - - 12 INN This rnap layer shows an area's flood zone designation as determined by the Federal Emergency Management Agency (FEMA), A high-risk area has a 1 percent or greater annual chance offlooding and a 26 percent chance offlooding ager the life of a 30 -year mortgage. High-fisk areas are red or orange. The coast areas, shown in purple, are also considered high risk. Green areas are low to moderate risk. A moderate -risk area is between risk limits of a 100 -year and 500 -year flood. White areas are undetermined, and all other areas are considered no or low risk. For more details on the categories of Hoed risk, see http://supporL.narpr.corrVentries/319901-what-is-the- flood-zone-heat-map. Source(s): FEMA; updated Annually. CopYgfit 2013 FRealtorsProperty Res7urce0-LLC. All Yaghls'Remrved. r Information isnot guaranteed. Equal i-huang Opportunity. 4/8/2013 Page 149 1'.. f f Nor starr'!t_ 3 Property ReportttForyourIntmmation. For yeur Success. 2635 Nathan Ln N Sales and )Financing Activity phis chart shows a property's sales and financing history. It can be used to compare the value of the property as seen by public records, such as deeds and tax records, with the estimated home +slue. Actions taken against the owner, such as the issuance ofa (notice of Default, are noted. Sales activity, such as fisting date and price reductions, are highlighted. Data Source: Public records and proprietary data from Lender Processing Services (LPS); listing data from on- and off -market listings sources Update Frequency: Valuations are updated twice monthly; actions on the home, such as listing activity or distressed property notices, are updated daily as madeavailablefrompublicrecordssources Listing OFinancfng Distressed . Assessed Assessor *Est. Eel. gF, Bela M LoanActivityF4l1ActivityIActionsValueValue Market s er RVM Balance BOOK Price Change History Change Date 1/1812013 Description New List Price 648,000 Change RPR copyright 2013 Realtors PropertyResoumaOLLC. All RghlsrZn nrved. Intomiation isnot guaran{end. Equal 1-ious=ng Opportunity. [ r 41812013Page150 ASSe VA -W f Y t ry 4 j}" yy p64fttf1{,`f60UK......................................... r . ' 1 o......._.........._ v N A- VAjfl 400K ....................... rrr . r L.....w`_a_e-", fit 200K.....-...}`.....................rt........................, r so_............. Jan Jul Jan Jut Jan Jul Jan Jul 10 '10 11 '11 '12 12 '13 13 Price Change History Change Date 1/1812013 Description New List Price 648,000 Change RPR copyright 2013 Realtors PropertyResoumaOLLC. All RghlsrZn nrved. Intomiation isnot guaran{end. Equal 1-ious=ng Opportunity. [ r 41812013Page150 CMA Map Layout Map display of the subject property location in relation to the comparables, V A(IJIF I KA l-. S Medicine Lake Osq4 z zC -I Park < 6 Uoks 55 Pack 6' 73 i J 19 01111111i - Subject Property 1 2635 Nathan Ln N Comparables 2 4284 Deerwood Ln N 3 3200 Nathan Ln N 4 1455 W. Medicine Lake Drive Dr 5 3050 Quinwood Ln N 6 4280 Deerwood Ln N 7 12720 31 st Ave N 8 3105 Pineview Ln N 9 15015 52ND AVE N Page 151 5111, LAI i- erflell Lake Rd 49th Ave N Nulus Cdol''. Fl mk ifth Aw N 1A e vv 110 9 42m HAM SE0503Is 14 Palk Northwuud Vwlich Paik 0 Rqiulwi 36th A.v-- N Wth Ave NPj; k rm P V A(IJIF I KA l-. S Medicine Lake Osq4 z zC -I Park < 6 Uoks 55 Pack 6' 73 i J 19 01111111i - Subject Property 1 2635 Nathan Ln N Comparables 2 4284 Deerwood Ln N 3 3200 Nathan Ln N 4 1455 W. Medicine Lake Drive Dr 5 3050 Quinwood Ln N 6 4280 Deerwood Ln N 7 12720 31 st Ave N 8 3105 Pineview Ln N 9 15015 52ND AVE N Page 151 Minimums and Maximums This page summarizes key fields of the listings in this analysis. The listings in this analysis can be summarized as follows: Price is expressed as the the Sold Price for solds, and List Price for all other listings. Priced between $430,496 and $699,900 4 to 7 Bedrooms 4.00 to 6.00 Bathrooms 3,200 to 5,353 Square Feet 97 to $219 per Square Foot Built between 1991 and 2013 0 to 22 years old MENERAPAPPO- Monday, April 8, 2013 Page 152 rp) city of AgendaOf Number: Adding Quality to Life To: Local Board of Appeal and Equalization LOCAL BOARD OF APPEAL Et Prepared by: Janene Hebert, City Assessor EQUALIZATION MEETING Appeal in Writing April 23, 2013 Item: Richard and Jill Minn 26-118-22-32-0019 1242018th Avenue, Plymouth MN 1. ACTION REQUESTED: Sustain the 2013 market value of $185,900. 2. BACKGROUND: 7 Richard Minn initially contacted our office on March 25, 2013 and requested an application for the 2013 Local Board of Appeal and Equalization. Cindy Bowman explained the process, and explained that we needed to perform a physical inspection of the property. The application was returned to City offices on April 1, 2013. Mr. Minn was contacted on April 10, 2013 to set up an inspection. Mr. Minn indicated that he would not be able to provide an interior inspection of the property and was not sure when he would be able to. Ms. Bowman explained that the Local Board of Appeal and Equalization could not adjust the value without an inspection; however he would be able to appeal to the County Board of Appeal and Equalization. It is recommended that the Local Board of Appeal and Equalization sustains the 2013 market value of $185,900 because access to the property was not provided. Should the owner choose to appeal to the County Board ofAppeal and Equalization, his option remains open. Page 153 City of Plymouth Assessing Division 2013 Local Board of Appeal and Equalization Assessment Application 3400 Plymouth Blvd Qf Plymouth, MN 55447 Date Returned: Phone: 763-509-5360 Fax: 763-509-5060 Received via: Email: assessing@plymouthnin.gov Date Withdrawn: Return Utas farm tii the City of P1k ttrutlt Acsesstng =. Withdrawn via: Dist Nbad Appraiser Date: i 1 CXU Home Number: Work Number: Cell Number: Owners Name(s) ity}i `C: l.i Fax Number: Address: %r G %,3711 ,it)E,K_ Zip Cade: 1 .. Email: 1Pe.} C, 1 \ Property ID: Purchase Date. Al A--1 -20 Q- Q Property Address: IdA!U V3" Purchase Price: Zsq, G Was it listed for sale? Yeses No Was the property a foreclosure, short sale, purchased from a friend or relative, or a relocation sale? If yes, please exnlain: $-i i, 2013 Assessor's Estimated Market Value: _kt 0 Additions, renovations, or improvements since purchase: Cost of improvements since purchase: Owner's opinion of Estimated Market Value as of January 2, 2013 What are the reasons or documentation supporting the owner's opinion of market value? Please attach supporting I Signature of applicant Date f h- 3 A R live — Page 154 rp)City of Plymouth Adding Quality to Life LOCAL BOARD OF APPEAL Et EQUALIZATION MEETING April 23, 2013 Agenda 8-18Numbers: To: Local Board ofAppeal and Equalization Prepared by: Janene Hebert, City Assessor Properties reviewed and adjusted between March 29 Item: and April 9, 2013 I. ACTION REQUESTED: Approve the recommend adjustments to parcels that were reviewed and agreed upon by the property owner, or their representative, between March 29 and April 9, 2013. 2. BACKGROUND: For 2013, any changes made less than ten days prior to the Local Board of Appeal and Equalization need to be brought to the Board for approval on an individual basis. In each situation, the property was inspected by a staff appraiser, evidence was provided by the property owner, and staffprepared an individual appraisal of the property that is available for review. Page 15 5 3. AGREED ADJUSTMENTS: 2013 Value Property owner Parcel Number Explanation for Change Original Revised 8 Bass Lake Villas 01-118-22-32-0093 Land locked vacant land - Sale - Inspection. 96,000 20,700 Preserve LLC PA at $30,000 by Dominium backed out, left earnest money on the table. 9 Shane and Lindsay 01-118-22-3 2-0010 Inspection, comps, grid, 10112 sale $278,000 357,500 314,000 Lafave and appraisal 10 Doug and Nancy 03-118-22-43-0025 Inspection, removed basement finish, 2/Slab 285,900 270,000 McGuire not 2/Crawl, def mtace camp and grid 11 Kathryn Hamm erseng 14-118-22-12-0087 Inspection, comps, and grid 508,500 490,000 and Maureen Kennedy 12 David and Linda 16-118-22-14-0058 Inspection, comps, grid, and previous listing 333,600 315,000 Brinkman in 2012 of $314,900 13 Dianna and Brian 16-118-22-31-0047 Inspection, not remodeled, comps, and grid 106,500 99,700 Dawson 14 Tim and Kelly 20-118-22-31-0069 Inspection, comps, grid, 10112 sale $220,000 303,700 257,000 Beckman appraisal 15 Andreas S. Thurneer 20-118-22-44-0056 Inspection, condition, comps, grid 231,000 207,000 16 Paul Dathe 24-118-22-43-0017 Inspection, comps, and grid 239,500 225,600 17 Thomas and Nancy 25-118-22-34-0051 Inspection, $660,000 appraisal, comps, and 718,700 695,000 Gallagher grid 18 Buist and Cynthia 31-118-22-21-0006 Inspection (overstated bsmnt finish), comps, 389,700 360,000 Walker and grid Page 15 5