APPRAISAL REPORT LOCATED AT: FOR: AS OF: BY · Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.). ... LP Septic Asphalt

LOCATED AT:

FOR:

AS OF:

BY:

Form GA1 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

843 Winton Chapel Rd Book 1505, Page 264Rockwood, TN 37854

Mortgage Investors Group8320 East Walker Springs Lane

Knoxville, TN 37923

12/08/2016

Thomas F. White, CG#518State Certified General Real Estate Appraiser

TFW Appraisal Service, Inc.139 West Madison LaneOak Ridge, TN 37830

APPRAISAL REPORT

Form GA1 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

843 Winton Chapel Rd Book 1505, Page 264Rockwood, TN 37854

Mortgage Investors Group8320 East Walker Springs Lane

Knoxville, TN 37923

12/08/2016

Thomas F. White, CG#518State Certified General Real Estate Appraiser

TFW Appraisal Service, Inc.139 West Madison LaneOak Ridge, TN 37830

APPRAISAL REPORT

LOCATED AT:

FOR:

AS OF:

BY:

Page #1Main File No. 1612018

File No.

Property AddressCity County State Zip Code

Form SUP — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

1612018Mark Guettner843 Winton Chapel RdRockwood Roane TN 37854Mortgage Investors Group

Appraisal report was revised as follows:

12/28/2016Comments added to the Additional Comments page

Report Revisions

Borrower/Client

Lender



Appraisal report was revised as follows:

12/28/2016Comments added to the Additional Comments page

Report Revisions

Borrower/Client

Lender

File No.



Uniform Residential Appraisal Report File #

SUB

JEC

TC

ON

TRA

CT

NEI

GH

BO

RH

OO

DSI

TEIM

PRO

VEM

ENTS

The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property.Property Address City State Zip CodeBorrower Owner of Public Record CountyLegal DescriptionAssessor's Parcel # Tax Year R.E. Taxes $Neighborhood Name Map Reference Census TractOccupant Owner Tenant Vacant Special Assessments $ PUD HOA $ per year per monthProperty Rights Appraised Fee Simple Leasehold Other (describe)Assignment Type Purchase Transaction Refinance Transaction Other (describe)Lender/Client AddressIs the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal? Yes NoReport data source(s) used, offering price(s), and date(s).

I did did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was notperformed.

Contract Price $ Date of Contract Is the property seller the owner of public record? Yes No Data Source(s)Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower? Yes NoIf Yes, report the total dollar amount and describe the items to be paid.

Note: Race and the racial composition of the neighborhood are not appraisal factors.Neighborhood Characteristics

Location Urban Suburban RuralBuilt-Up Over 75% 25-75% Under 25%Growth Rapid Stable Slow

One-Unit Housing TrendsProperty Values Increasing Stable DecliningDemand/Supply Shortage In Balance Over SupplyMarketing Time Under 3 mths 3-6 mths Over 6 mths

One-Unit HousingPRICE$ (000)

AGE(yrs)

LowHighPred.

Present Land Use %One-Unit %2-4 Unit %Multi-Family %Commercial %Other %

Neighborhood Boundaries

Neighborhood Description

Market Conditions (including support for the above conclusions)

Dimensions Area Shape ViewSpecific Zoning Classification Zoning DescriptionZoning Compliance Legal Legal Nonconforming (Grandfathered Use) No Zoning Illegal (describe)Is the highest and best use of subject property as improved (or as proposed per plans and specifications) the present use? Yes No If No, describe

Utilities Public Other (describe) Public Other (describe)ElectricityGas

WaterSanitary Sewer

Off-site Improvements - Type Public PrivateStreetAlley

FEMA Special Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map DateAre the utilities and off-site improvements typical for the market area? Yes No If No, describeAre there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? Yes No If Yes, describe

General DescriptionUnits One One with Accessory Unit# of StoriesType Det. Att. S-Det./End Unit

Existing Proposed Under Const.Design (Style)Year BuiltEffective Age (Yrs)

FoundationConcrete Slab Crawl SpaceFull Basement Partial Basement

Basement Area sq.ft.Basement Finish %

Outside Entry/Exit Sump PumpEvidence of Infestation

Dampness Settlement

Exterior Description materials/conditionFoundation WallsExterior WallsRoof SurfaceGutters & DownspoutsWindow TypeStorm Sash/InsulatedScreens

Interior materials/conditionFloorsWallsTrim/FinishBath FloorBath Wainscot

Attic NoneDrop Stair StairsFloor ScuttleFinished Heated

Heating FWA HWBB RadiantOther Fuel

Cooling Central Air ConditioningIndividual Other

AmenitiesFireplace(s) #Patio/DeckPool

Woodstove(s) #FencePorchOther

Car Storage NoneDriveway # of Cars

Driveway SurfaceGarage # of CarsCarport # of CarsAtt. Det. Built-in

Appliances Refrigerator Range/Oven Dishwasher Disposal Microwave Washer/Dryer Other (describe)Finished area above grade contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area Above GradeAdditional features (special energy efficient items, etc.).

Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.).

Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? Yes No If Yes, describe

Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? Yes No If No, describe

Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 1 of 6 Fannie Mae Form 1004 March 2005

TFW Appraisal Services (865)220-0200

1612018

843 Winton Chapel Rd Rockwood TN 37854Mark Guettner Mark Allen Guettner Roane

Book 1505, Page 264020.18 2015 432Roane County/Rockwood 094 304/5

0 0

Mortgage Investors Group 8320 East Walker Springs Lane, Knoxville, TN 37923

CRS/KAARMLS

701,600400

14015

70

30North I-40, East Watts Bar Lake, South Rockwood, West Cumberland

Mountains.Access to amenities is good and creates favorable marketability. Location of the area is characterized and influenced by

Watts Bar Lake and the lake view and lake front properties. Most of the high end properties are located around the lake with the other lower endproperties located well off the lake. Convenience to most areas of Rockwood is good. 30% is vacant land.

The overall accessibility to employment, shopping, and schools is average with driving timesunder 15 minutes to Kingston and under 10 minutes to Rockwood. Historically this area has experienced stable marketability.

Irregular 18.38 ac Irregular B;Wtr;R-1 Residential

LP SepticAsphaltNone

X & AE 47145C0190G 11/18/2009

Lakefront site is above-average in size, shape and appeal for the market with no adverse marketing factors. Septic is typical for the area and doesnot affect marketability.

2

Tudor20160

753100

P.Cnc.& Block/GStone,Brick,Vinyl/GCompShing/GAluminum/GD.P./Alum./GNoHalf/G

Hdwd/Tile/GSheetrock/GdPine Stain/GTile/GTile,Fiberglass/G

Electric 1Wood

None

1NoneCvdDock

3Gravel

20

F/H7 4 4.0 2,757

Full finished basement including: family room and full bath.

C1;No updates in the prior 15 years;The subject isunder construction. This appraisal is subject to completion.

Form 1004UAD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE


1612018

843 Winton Chapel Rd Rockwood TN 37854Mark Guettner Mark Allen Guettner Roane

Book 1505, Page 264020.18 2015 432Roane County/Rockwood 094 304/5

0 0

Mortgage Investors Group 8320 East Walker Springs Lane, Knoxville, TN 37923

CRS/KAARMLS

701,600400

14015

70

30North I-40, East Watts Bar Lake, South Rockwood, West Cumberland

Mountains.Access to amenities is good and creates favorable marketability. Location of the area is characterized and influenced by

Watts Bar Lake and the lake view and lake front properties. Most of the high end properties are located around the lake with the other lower endproperties located well off the lake. Convenience to most areas of Rockwood is good. 30% is vacant land.

The overall accessibility to employment, shopping, and schools is average with driving timesunder 15 minutes to Kingston and under 10 minutes to Rockwood. Historically this area has experienced stable marketability.

Irregular 18.38 ac Irregular B;Wtr;R-1 Residential

LP SepticAsphaltNone

X & AE 47145C0190G 11/18/2009

Lakefront site is above-average in size, shape and appeal for the market with no adverse marketing factors. Septic is typical for the area and doesnot affect marketability.

2

Tudor20160

753100

P.Cnc.& Block/GStone,Brick,Vinyl/GCompShing/GAluminum/GD.P./Alum./GNoHalf/G

Hdwd/Tile/GSheetrock/GdPine Stain/GTile/GTile,Fiberglass/G

Electric 1Wood

None

1NoneCvdDock

3Gravel

20

F/H7 4 4.0 2,757

Full finished basement including: family room and full bath.

C1;No updates in the prior 15 years;The subject isunder construction. This appraisal is subject to completion.



SUB

JEC

TC

ON

TRA

CT

NEI

GH

BO

RH

OO

DSI

TEIM

PRO

VEM

ENTS

The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property.Property Address City State Zip CodeBorrower Owner of Public Record CountyLegal DescriptionAssessor's Parcel # Tax Year R.E. Taxes $Neighborhood Name Map Reference Census TractOccupant Owner Tenant Vacant Special Assessments $ PUD HOA $ per year per monthProperty Rights Appraised Fee Simple Leasehold Other (describe)Assignment Type Purchase Transaction Refinance Transaction Other (describe)Lender/Client AddressIs the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal? Yes NoReport data source(s) used, offering price(s), and date(s).

I did did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was notperformed.

Contract Price $ Date of Contract Is the property seller the owner of public record? Yes No Data Source(s)Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower? Yes NoIf Yes, report the total dollar amount and describe the items to be paid.

Note: Race and the racial composition of the neighborhood are not appraisal factors.Neighborhood Characteristics

Location Urban Suburban RuralBuilt-Up Over 75% 25-75% Under 25%Growth Rapid Stable Slow

One-Unit Housing TrendsProperty Values Increasing Stable DecliningDemand/Supply Shortage In Balance Over SupplyMarketing Time Under 3 mths 3-6 mths Over 6 mths

One-Unit HousingPRICE$ (000)

AGE(yrs)

LowHighPred.

Present Land Use %One-Unit %2-4 Unit %Multi-Family %Commercial %Other %

Neighborhood Boundaries

Neighborhood Description

Market Conditions (including support for the above conclusions)

Dimensions Area Shape ViewSpecific Zoning Classification Zoning DescriptionZoning Compliance Legal Legal Nonconforming (Grandfathered Use) No Zoning Illegal (describe)Is the highest and best use of subject property as improved (or as proposed per plans and specifications) the present use? Yes No If No, describe

Utilities Public Other (describe) Public Other (describe)ElectricityGas

WaterSanitary Sewer

Off-site Improvements - Type Public PrivateStreetAlley

FEMA Special Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map DateAre the utilities and off-site improvements typical for the market area? Yes No If No, describeAre there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? Yes No If Yes, describe

General DescriptionUnits One One with Accessory Unit# of StoriesType Det. Att. S-Det./End Unit

Existing Proposed Under Const.Design (Style)Year BuiltEffective Age (Yrs)

FoundationConcrete Slab Crawl SpaceFull Basement Partial Basement

Basement Area sq.ft.Basement Finish %

Outside Entry/Exit Sump PumpEvidence of Infestation

Dampness Settlement

Exterior Description materials/conditionFoundation WallsExterior WallsRoof SurfaceGutters & DownspoutsWindow TypeStorm Sash/InsulatedScreens

Interior materials/conditionFloorsWallsTrim/FinishBath FloorBath Wainscot

Attic NoneDrop Stair StairsFloor ScuttleFinished Heated

Heating FWA HWBB RadiantOther Fuel

Cooling Central Air ConditioningIndividual Other

AmenitiesFireplace(s) #Patio/DeckPool

Woodstove(s) #FencePorchOther

Car Storage NoneDriveway # of Cars

Driveway SurfaceGarage # of CarsCarport # of CarsAtt. Det. Built-in

Appliances Refrigerator Range/Oven Dishwasher Disposal Microwave Washer/Dryer Other (describe)Finished area above grade contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area Above GradeAdditional features (special energy efficient items, etc.).

Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.).

Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? Yes No If Yes, describe

Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? Yes No If No, describe




SALE

S C

OM

PAR

ISO

N A

PPR

OA

CH

REC

ON

CIL

IATI

ON

There are comparable properties currently offered for sale in the subject neighborhood ranging in price from $ to $ .There are comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ to $ .

FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3Address

Proximity to SubjectSale Price $ $ $ $Sale Price/Gross Liv. Area $ sq.ft. $ sq.ft. $ sq.ft. $ sq.ft.Data Source(s)Verification Source(s)VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ AdjustmentSales or FinancingConcessionsDate of Sale/TimeLocationLeasehold/Fee SimpleSiteViewDesign (Style)Quality of ConstructionActual AgeConditionAbove Grade Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. BathsRoom CountGross Living Area sq.ft. sq.ft. sq.ft. sq.ft.Basement & FinishedRooms Below GradeFunctional UtilityHeating/CoolingEnergy Efficient ItemsGarage/CarportPorch/Patio/Deck

Net Adjustment (Total) + - + - + -$ $ $Adjusted Sale Priceof Comparables $ $ $

Net Adj. %Gross Adj. %



I did did not research the sale or transfer history of the subject property and comparable sales. If not, explain

My research did did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal.Data Source(s)My research did did not reveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale.Data Source(s)Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).

ITEM SUBJECT COMPARABLE SALE #1 COMPARABLE SALE #2 COMPARABLE SALE #3Date of Prior Sale/TransferPrice of Prior Sale/TransferData Source(s)Effective Date of Data Source(s)Analysis of prior sale or transfer history of the subject property and comparable sales

Summary of Sales Comparison Approach

Indicated Value by Sales Comparison Approach $Indicated Value by: Sales Comparison Approach $ Cost Approach (if developed) $ Income Approach (if developed) $

This appraisal is made "as is", subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have beencompleted, subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or subject to thefollowing required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair:

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$ , as of , which is the date of inspection and the effective date of this appraisal.


161201823 500,000 800,00016 500,000 800,000

843 Winton Chapel RdRockwood, TN 37854

B;WtrFr;Fee Simple18.38 acB;Wtr;DT2;TudorQ30C1

7 4 4.02,757

753sf753sfwo0rr0br1.0ba1oAverageE F/A-F/ANone2gbi3dwCPch,Deck

Appliances AppliancesFireplace/Fence FPOther Dock,WS

06/30/2014$0Courthouse Records12/06/2016

242 Marble View DrKingston, TN 3776314.14 miles E

510,000258.36

KAARMLS#930009;DOM 373CRS/KAARMLS

ArmLthConv;0s07/16;c06/16B;WtrFr;Fee Simple37,026 sf +20,000B;Wtr;DT1;Ranch 0Q314 +10,000C3 +10,000

6 3 2.0 +4,0001,974 +27,405

1233sf1233sfwo -5,0001rr1br1.0ba0o 0AverageEl/Prop/Central 0None3gbi3dw -5,000CPorch,SPorch 0Appliances FP2 -1,000Dock,WS,Shed 0

60,40511.816.2 570,405

CRS/KAARMLS12/20/2016

1380 Indian Shadows DrTen Mile, TN 378802.57 miles S

555,000253.42


ArmLthCash;0s12/16;c11/16B;WtrFr;Fee Simple1.12 ac +10,000N;Wtr; 0DT2;Cabin 0Q314 +10,000C3 +10,000

5 3 2.0 +4,0002,190 +19,845

1120sf1120sfwo -4,0001rr1br1.0ba1o 0AverageE, HP,Central 0None1cp2dw +6,000Decks,SPch 0AppliancesFP,Fence -5,000BoatHs,Dock 0

50,8459.2

12.4 605,845


600 Anglers Cove RdKingston, TN 377639.80 miles E

600,000168.87


ArmLthConv;0s08/16;c07/16N;Res; +10,000Fee Simple28.85 ac -20,000B;Wtr;DT2;Traditional 0Q313 +10,000C3 +10,000

8 4 3.1 +1,5003,553 -27,860

1295sf0sfwo +7,000+2,000

AverageE. Central HP 0None2ga1gbi3dw -5,000CPch's 0AppliancesNone +1,000None +10,000

-1,3600.2

17.4 598,640


CRS/KAARMLS

CRS/KAARMLS

CRS/KAARMLS

History: Last recorded by owner 6/30/2014 via Quit Claim Deed.

All three sales are homes similar in quality. These sales are farther away from the subject than usual becausethe subject is located on the water and finding water front sales requires a wider search pattern. Two fo the thrree sales are located on the waterwith all of the sales located in Roane County. All land adjustments were based on value and not on size alone. No other more similar sales areknown. Sale #3 is a similar quality home located off the water, but with a good lake view. Most weight was placed on sales #2 and #3. Sale #4 is acurrent listing. The subject is appraised for $600,000, after completion of all construction. Comp #3 was listed as having sold with 10 acres perlisting agreement, but the buyer bought 28.85 acres. Sale #3 is lake view and not lake front, so although it is larger in size, it is only somewhatgreater in value due to the value per acre of the subject's land front site.

600,000600,000 594,635

The sales comparison approach to value was given primary weight with some consideration to the cost approach due to the age of the subjectproperty. Most informed buyers know the cost of construction and available competitiive properties. The income approach was not applicable inthis report. Most weight was placed on sales #2 and #3.

Subject to completion.

600,000 12/08/2016


161201823 500,000 800,00016 500,000 800,000



7 4 4.02,757




242 Marble View DrKingston, TN 3776314.14 miles E

510,000258.36


ArmLthConv;0s07/16;c06/16B;WtrFr;Fee Simple37,026 sf +20,000B;Wtr;DT1;Ranch 0Q314 +10,000C3 +10,000

6 3 2.0 +4,0001,974 +27,405

1233sf1233sfwo -5,0001rr1br1.0ba0o 0AverageEl/Prop/Central 0None3gbi3dw -5,000CPorch,SPorch 0Appliances FP2 -1,000Dock,WS,Shed 0

60,40511.816.2 570,405


1380 Indian Shadows DrTen Mile, TN 378802.57 miles S

555,000253.42


ArmLthCash;0s12/16;c11/16B;WtrFr;Fee Simple1.12 ac +10,000N;Wtr; 0DT2;Cabin 0Q314 +10,000C3 +10,000

5 3 2.0 +4,0002,190 +19,845

1120sf1120sfwo -4,0001rr1br1.0ba1o 0AverageE, HP,Central 0None1cp2dw +6,000Decks,SPch 0AppliancesFP,Fence -5,000BoatHs,Dock 0

50,8459.2

12.4 605,845


600 Anglers Cove RdKingston, TN 377639.80 miles E

600,000168.87


ArmLthConv;0s08/16;c07/16N;Res; +10,000Fee Simple28.85 ac -20,000B;Wtr;DT2;Traditional 0Q313 +10,000C3 +10,000

8 4 3.1 +1,5003,553 -27,860

1295sf0sfwo +7,000+2,000

AverageE. Central HP 0None2ga1gbi3dw -5,000CPch's 0AppliancesNone +1,000None +10,000

-1,3600.2

17.4 598,640


CRS/KAARMLS

CRS/KAARMLS

CRS/KAARMLS

History: Last recorded by owner 6/30/2014 via Quit Claim Deed.

All three sales are homes similar in quality. These sales are farther away from the subject than usual becausethe subject is located on the water and finding water front sales requires a wider search pattern. Two fo the thrree sales are located on the waterwith all of the sales located in Roane County. All land adjustments were based on value and not on size alone. No other more similar sales areknown. Sale #3 is a similar quality home located off the water, but with a good lake view. Most weight was placed on sales #2 and #3. Sale #4 is acurrent listing. The subject is appraised for $600,000, after completion of all construction. Comp #3 was listed as having sold with 10 acres perlisting agreement, but the buyer bought 28.85 acres. Sale #3 is lake view and not lake front, so although it is larger in size, it is only somewhatgreater in value due to the value per acre of the subject's land front site.

600,000600,000 594,635

The sales comparison approach to value was given primary weight with some consideration to the cost approach due to the age of the subjectproperty. Most informed buyers know the cost of construction and available competitiive properties. The income approach was not applicable inthis report. Most weight was placed on sales #2 and #3.

Subject to completion.

600,000 12/08/2016



SALE

S C

OM

PAR

ISO

N A

PPR

OA

CH

REC

ON

CIL

IATI

ON

There are comparable properties currently offered for sale in the subject neighborhood ranging in price from $ to $ .There are comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ to $ .

FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3Address






I did did not research the sale or transfer history of the subject property and comparable sales. If not, explain

My research did did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal.Data Source(s)My research did did not reveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale.Data Source(s)Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).

ITEM SUBJECT COMPARABLE SALE #1 COMPARABLE SALE #2 COMPARABLE SALE #3Date of Prior Sale/TransferPrice of Prior Sale/TransferData Source(s)Effective Date of Data Source(s)Analysis of prior sale or transfer history of the subject property and comparable sales

Summary of Sales Comparison Approach

Indicated Value by Sales Comparison Approach $Indicated Value by: Sales Comparison Approach $ Cost Approach (if developed) $ Income Approach (if developed) $

This appraisal is made "as is", subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have beencompleted, subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or subject to thefollowing required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair:

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$ , as of , which is the date of inspection and the effective date of this appraisal.




AD

DIT

ION

AL

CO

MM

ENTS

CO

ST A

PPR

OA

CH

INC

OM

EPU

D IN

FOR

MA

TIO

N

COST APPROACH TO VALUE (not required by Fannie Mae)Provide adequate information for the lender/client to replicate the below cost figures and calculations.Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value)

ESTIMATED REPRODUCTION OR REPLACEMENT COST NEWSource of cost dataQuality rating from cost service Effective date of cost dataComments on Cost Approach (gross living area calculations, depreciation, etc.)

OPINION OF SITE VALUE =$DWELLING Sq.Ft. @ $ =$

Sq.Ft. @ $ =$=$

Garage/Carport Sq.Ft. @ $ =$Total Estimate of Cost-New =$Less Physical Functional ExternalDepreciation =$( )Depreciated Cost of Improvements =$"As-is" Value of Site Improvements =$

INDICATED VALUE BY COST APPROACH =$Estimated Remaining Economic Life (HUD and VA only) YearsINCOME APPROACH TO VALUE (not required by Fannie Mae)

Estimated Monthly Market Rent $ X Gross Rent Multiplier = $ Indicated Value by Income ApproachSummary of Income Approach (including support for market rent and GRM)

PROJECT INFORMATION FOR PUDs (if applicable)Is the developer/builder in control of the Homeowners' Association (HOA)? Yes No Unit type(s) Detached AttachedProvide the following information for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit.Legal Name of ProjectTotal number of phases Total number of units Total number of units soldTotal number of units rented Total number of units for sale Data source(s)Was the project created by the conversion of existing building(s) into a PUD? Yes No If Yes, date of conversion.Does the project contain any multi-dwelling units? Yes No Data SourceAre the units, common elements, and recreation facilities complete? Yes No If No, describe the status of completion.

Are the common elements leased to or by the Homeowners' Association? Yes No If Yes, describe the rental terms and options.

Describe common elements and recreational facilities.


1612018I have performed no services, as an appraiser or in any other capcity, regarding the property that is the subject of this report within the three yearperiod immediately preceding acceptance of this agreement.

Subject is not an income producing property.

Site value was estimated using sales from thesurrounding area.

Marshall & SwiftGood 10/2016

110,0002,757 120.00 330,840

753 40.00 30,120CP,FP,Dk,WS,Dock 55,000

927 25.00 23,175439,135

439,13545,500

594,635

Source for cost approach is Marshall and Swift Cost Handbook. Sitevalue was estimated using previous known site sales and appraiser'sexperience and knowledge.

80

N/AN/A

N/A


1612018I have performed no services, as an appraiser or in any other capcity, regarding the property that is the subject of this report within the three yearperiod immediately preceding acceptance of this agreement.

Subject is not an income producing property.

Site value was estimated using sales from thesurrounding area.

Marshall & SwiftGood 10/2016

110,0002,757 120.00 330,840

753 40.00 30,120CP,FP,Dk,WS,Dock 55,000

927 25.00 23,175439,135

439,13545,500

594,635

Source for cost approach is Marshall and Swift Cost Handbook. Sitevalue was estimated using previous known site sales and appraiser'sexperience and knowledge.

80

N/AN/A

N/A



AD

DIT

ION

AL

CO

MM

ENTS

CO

ST A

PPR

OA

CH

INC

OM

EPU

D IN

FOR

MA

TIO

N

COST APPROACH TO VALUE (not required by Fannie Mae)Provide adequate information for the lender/client to replicate the below cost figures and calculations.Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value)

ESTIMATED REPRODUCTION OR REPLACEMENT COST NEWSource of cost dataQuality rating from cost service Effective date of cost dataComments on Cost Approach (gross living area calculations, depreciation, etc.)

OPINION OF SITE VALUE =$DWELLING Sq.Ft. @ $ =$

Sq.Ft. @ $ =$=$

Garage/Carport Sq.Ft. @ $ =$Total Estimate of Cost-New =$Less Physical Functional ExternalDepreciation =$( )Depreciated Cost of Improvements =$"As-is" Value of Site Improvements =$

INDICATED VALUE BY COST APPROACH =$Estimated Remaining Economic Life (HUD and VA only) YearsINCOME APPROACH TO VALUE (not required by Fannie Mae)

Estimated Monthly Market Rent $ X Gross Rent Multiplier = $ Indicated Value by Income ApproachSummary of Income Approach (including support for market rent and GRM)

PROJECT INFORMATION FOR PUDs (if applicable)Is the developer/builder in control of the Homeowners' Association (HOA)? Yes No Unit type(s) Detached AttachedProvide the following information for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit.Legal Name of ProjectTotal number of phases Total number of units Total number of units soldTotal number of units rented Total number of units for sale Data source(s)Was the project created by the conversion of existing building(s) into a PUD? Yes No If Yes, date of conversion.Does the project contain any multi-dwelling units? Yes No Data SourceAre the units, common elements, and recreation facilities complete? Yes No If No, describe the status of completion.

Are the common elements leased to or by the Homeowners' Association? Yes No If Yes, describe the rental terms and options.

Describe common elements and recreational facilities.




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 amanufactured 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 intendeduse, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser mayexpand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisalassignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that donot constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser'scontinuing 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 thereporting requirements of this appraisal report form, including the following definition of market value, statement ofassumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visualinspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of thecomparable 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 thesubject of this appraisal for a mortgage finance transaction.

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 openmarket under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assumingthe price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date andthe passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) bothparties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) areasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in termsof financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property soldunaffected 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 arenecessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs arereadily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financingadjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutionallender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanicaldollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market'sreaction to the financing or concessions based on the appraiser's judgment.

STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report issubject 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 titleto it, except for information that he or she became aware of during the research involved in performing this appraisal. Theappraiser 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 determinationof its size.

3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency(or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in anidentified 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, thepresence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he orshe became aware of during the research involved in performing the appraisal. Unless otherwise stated in this appraisalreport, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of theproperty (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 suchconditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any suchconditions 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 asan 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 satisfactorycompletion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property willbe performed in a professional manner.


1612018


1612018



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 amanufactured 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 intendeduse, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser mayexpand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisalassignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that donot constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser'scontinuing 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 thereporting requirements of this appraisal report form, including the following definition of market value, statement ofassumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visualinspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of thecomparable 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 thesubject of this appraisal for a mortgage finance transaction.

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 openmarket under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assumingthe price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date andthe passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) bothparties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) areasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in termsof financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property soldunaffected 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 arenecessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs arereadily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financingadjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutionallender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanicaldollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market'sreaction to the financing or concessions based on the appraiser's judgment.

STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report issubject 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 titleto it, except for information that he or she became aware of during the research involved in performing this appraisal. Theappraiser 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 determinationof its size.

3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency(or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in anidentified 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, thepresence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he orshe became aware of during the research involved in performing the appraisal. Unless otherwise stated in this appraisalreport, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of theproperty (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 suchconditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any suchconditions 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 asan 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 satisfactorycompletion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property willbe performed in a professional manner.




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 inthis appraisal report.

2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the conditionof the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect thelivability, soundness, or structural integrity of the property.

3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional AppraisalPractice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were inplace at the time this appraisal report was prepared.

4. I developed my opinion of the market value of the real property that is the subject of this report based on the salescomparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approachfor this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not developthem, unless otherwise indicated in this report.

5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering forsale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subjectproperty for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report.

6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year priorto the date of sale of the comparable sale, unless otherwise indicated in this report.

7. I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property.

8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home thathas been built or will be built on the land.

9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subjectproperty and the comparable sales.

10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest inthe sale or financing of the subject property.

11. I have knowledge and experience in appraising this type of property in this market area.

12. I 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 records and other such data sources for the area in which the property is located.

13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report fromreliable sources that I believe to be true and correct.

14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subjectproperty, and the proximity of the subject property to adverse influences in the development of my opinion of market value. Ihave noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, thepresence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of thesubject property or that I became aware of during the research involved in performing this appraisal. I have considered theseadverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value andmarketability of the subject property.

15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, allstatements and information in this appraisal report are true and correct.

16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, whichare subject only to the assumptions and limiting conditions in this appraisal report.

17. I have no present or prospective interest in the property that is the subject of this report, and I have no present orprospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially orcompletely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, maritalstatus, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of thepresent 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 notconditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) apredetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause ofany party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pendingmortgage loan application).

19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If Irelied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisalor the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in thisappraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to makea change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take noresponsibility for it.

20. I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization thatordered and will receive this appraisal report.


1612018


1612018



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 inthis appraisal report.

2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the conditionof the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect thelivability, soundness, or structural integrity of the property.

3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional AppraisalPractice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were inplace at the time this appraisal report was prepared.

4. I developed my opinion of the market value of the real property that is the subject of this report based on the salescomparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approachfor this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not developthem, unless otherwise indicated in this report.

5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering forsale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subjectproperty for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report.

6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year priorto the date of sale of the comparable sale, unless otherwise indicated in this report.

7. I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property.

8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home thathas been built or will be built on the land.

9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subjectproperty and the comparable sales.

10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest inthe sale or financing of the subject property.

11. I have knowledge and experience in appraising this type of property in this market area.

12. I 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 records and other such data sources for the area in which the property is located.

13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report fromreliable sources that I believe to be true and correct.

14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subjectproperty, and the proximity of the subject property to adverse influences in the development of my opinion of market value. Ihave noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, thepresence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of thesubject property or that I became aware of during the research involved in performing this appraisal. I have considered theseadverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value andmarketability of the subject property.

15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, allstatements and information in this appraisal report are true and correct.

16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, whichare subject only to the assumptions and limiting conditions in this appraisal report.

17. I have no present or prospective interest in the property that is the subject of this report, and I have no present orprospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially orcompletely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, maritalstatus, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of thepresent 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 notconditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) apredetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause ofany party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pendingmortgage loan application).

19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If Irelied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisalor the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in thisappraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to makea change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take noresponsibility for it.

20. I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization thatordered and will receive this appraisal report.




21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of theborrower; the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; othersecondary 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 toobtain the appraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisalreport 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. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certainlaws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practicethat 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, mortgageinsurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as partof 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 aredefined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of thisappraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable andvalid as if a paper version of this appraisal report were delivered containing my original hand written signature.

25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/orcriminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United StatesCode, Section 1001, et seq., or similar state laws.

SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that:

1. I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser'sanalysis, opinions, statements, conclusions, and the appraiser's certification.

2. I 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 theappraisal 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 andpromulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisalreport was prepared.


APPRAISER

SignatureNameCompany NameCompany Address

Telephone NumberEmail AddressDate of Signature and ReportEffective Date of AppraisalState Certification #or State License #or Other (describe) State #StateExpiration Date of Certification or License

ADDRESS OF PROPERTY APPRAISED

APPRAISED VALUE OF SUBJECT PROPERTY $LENDER/CLIENTNameCompany NameCompany Address

Email Address

SUPERVISORY APPRAISER (ONLY IF REQUIRED)


Telephone NumberEmail AddressDate of SignatureState Certification #or State License #StateExpiration Date of Certification or License

SUBJECT PROPERTY

Did not inspect subject propertyDid inspect exterior of subject property from streetDate of InspectionDid inspect interior and exterior of subject propertyDate of Inspection

COMPARABLE SALES

Did not inspect exterior of comparable sales from streetDid inspect exterior of comparable sales from streetDate of Inspection


1612018

Thomas F. White, CG #518TFW Appraisal Service, Inc.

139 West Madison LaneOak Ridge, TN 37830865-220-0200

[email protected]/28/2016

12/08/2016CG # 518

TN12/23/2017


600,000

No AMCMortgage Investors Group

8320 East Walker Springs Lane, Knoxville, TN37923


1612018


139 West Madison LaneOak Ridge, TN 37830865-220-0200

[email protected]/28/2016

12/08/2016CG # 518

TN12/23/2017


600,000

No AMCMortgage Investors Group

8320 East Walker Springs Lane, Knoxville, TN37923



21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of theborrower; the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; othersecondary 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 toobtain the appraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisalreport 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. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certainlaws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practicethat 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, mortgageinsurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as partof any mortgage finance transaction that involves any one or more of these parties.


25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/orcriminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United StatesCode, Section 1001, et seq., or similar state laws.

SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that:

1. I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser'sanalysis, opinions, statements, conclusions, and the appraiser's certification.

2. I 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 theappraisal 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 andpromulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisalreport was prepared.


APPRAISER


Telephone NumberEmail AddressDate of Signature and ReportEffective Date of AppraisalState Certification #or State License #or Other (describe) State #StateExpiration Date of Certification or License

ADDRESS OF PROPERTY APPRAISED

APPRAISED VALUE OF SUBJECT PROPERTY $LENDER/CLIENTNameCompany NameCompany Address

Email Address

SUPERVISORY APPRAISER (ONLY IF REQUIRED)


Telephone NumberEmail AddressDate of SignatureState Certification #or State License #StateExpiration Date of Certification or License

SUBJECT PROPERTY

Did not inspect subject propertyDid inspect exterior of subject property from streetDate of InspectionDid inspect interior and exterior of subject propertyDate of Inspection

COMPARABLE SALES

Did not inspect exterior of comparable sales from streetDid inspect exterior of comparable sales from streetDate of Inspection




Form PIC4x6.SR — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Subject Photo PageMark Guettner843 Winton Chapel RdRockwood Roane TN 37854Mortgage Investors Group

Subject Front

Sales PriceGLATotal RoomsTotal BedrmsTotal BathrmsLocationViewSiteQualityAge

843 Winton Chapel Rd

2,757744.0B;WtrFr;B;Wtr;18.38 acQ30

Subject Rear

Subject Street

Borrower/Client

Lender

Form PIC4x6.SR — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Subject Photo PageMark Guettner843 Winton Chapel RdRockwood Roane TN 37854Mortgage Investors Group

Subject Front

Sales PriceGLATotal RoomsTotal BedrmsTotal BathrmsLocationViewSiteQualityAge

843 Winton Chapel Rd

2,757744.0B;WtrFr;B;Wtr;18.38 acQ30

Subject Rear

Subject Street

Borrower/Client

Lender




Form PIC15 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Photograph AddendumMark Guettner843 Winton Chapel RdRockwood Roane TN 37854Mortgage Investors Group

Basement Bath Basement Family Room Bath

Bedroom Bath Bedroom

Bath Bedroom Bedroom

Kitchen Bath Living Room

Front Front View

Borrower/Client

Lender

Form PIC15 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Photograph AddendumMark Guettner843 Winton Chapel RdRockwood Roane TN 37854Mortgage Investors Group

Basement Bath Basement Family Room Bath

Bedroom Bath Bedroom

Bath Bedroom Bedroom

Kitchen Bath Living Room

Front Front View

Borrower/Client

Lender




Form PIC4x6.CR — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Comparable Photo PageMark Guettner843 Winton Chapel RdRockwood Roane TN 37854Mortgage Investors Group

Comparable 1

ProximitySale PriceGLATotal RoomsTotal BedrmsTotal BathrmsLocationViewSiteQualityAge

242 Marble View Dr14.14 miles E510,0001,974632.0B;WtrFr;B;Wtr;37,026 sfQ314

Comparable 2


1380 Indian Shadows Dr2.57 miles S555,0002,190532.0B;WtrFr;N;Wtr;1.12 acQ314

Comparable 3


600 Anglers Cove Rd9.80 miles E600,0003,553843.1N;Res;B;Wtr;28.85 acQ313

Borrower/Client

Lender



Comparable 1


242 Marble View Dr14.14 miles E510,0001,974632.0B;WtrFr;B;Wtr;37,026 sfQ314

Comparable 2


1380 Indian Shadows Dr2.57 miles S555,0002,190532.0B;WtrFr;N;Wtr;1.12 acQ314

Comparable 3


600 Anglers Cove Rd9.80 miles E600,0003,553843.1N;Res;B;Wtr;28.85 acQ313

Borrower/Client

Lender




SALE

S C

OM

PAR

ISO

N A

PPR

OA

CH

SALE

HIS

TOR

YA

NA

LYSI

S / C

OM

MEN

TS

FEATURE SUBJECT COMPARABLE SALE # COMPARABLE SALE # COMPARABLE SALE #Address






Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).ITEM SUBJECT COMPARABLE SALE # COMPARABLE SALE # COMPARABLE SALE #

Date of Prior Sale/TransferPrice of Prior Sale/TransferData Source(s)Effective Date of Data Source(s)Analysis of prior sale or transfer history of the subject property and comparable sales

Analysis/Comments

Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005UAD Version 9/2011

1612018



7 4 4.02,757




688 New Hope RdRockwood, TN 378543.32 miles NE

795,000290.36


ListingActive;0Active -30,000B;WtrFr;Fee Simple2.0 ac 0B;Wtr;DT2;Contemporary 0Q2 -100,0004 0C2 0

6 2 2.0 +4,0002,738 0

0sf +8,000+2,000

AverageEl/Prop/Central 0None2ga2dw 0Deck,CPch,Pto 0AppliancesFP,Fence -5,000Dock 0

-121,00015.218.7 674,000


4 5 6

4 5 6

None

current listing. Due to topography and quality of shoreline, the land value of comparable sale #4 and the subject is similar inoverall value so no adjustment is warranted.

Form 1004UAD.(AC) — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

1612018



7 4 4.02,757




688 New Hope RdRockwood, TN 378543.32 miles NE

795,000290.36


ListingActive;0Active -30,000B;WtrFr;Fee Simple2.0 ac 0B;Wtr;DT2;Contemporary 0Q2 -100,0004 0C2 0

6 2 2.0 +4,0002,738 0

0sf +8,000+2,000

AverageEl/Prop/Central 0None2ga2dw 0Deck,CPch,Pto 0AppliancesFP,Fence -5,000Dock 0

-121,00015.218.7 674,000


4 5 6

4 5 6

None

current listing. Due to topography and quality of shoreline, the land value of comparable sale #4 and the subject is similar inoverall value so no adjustment is warranted.

Form 1004UAD.(AC) — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE


SALE

S C

OM

PAR

ISO

N A

PPR

OA

CH

SALE

HIS

TOR

YA

NA

LYSI

S / C

OM

MEN

TS

FEATURE SUBJECT COMPARABLE SALE # COMPARABLE SALE # COMPARABLE SALE #Address






Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).ITEM SUBJECT COMPARABLE SALE # COMPARABLE SALE # COMPARABLE SALE #

Date of Prior Sale/TransferPrice of Prior Sale/TransferData Source(s)Effective Date of Data Source(s)Analysis of prior sale or transfer history of the subject property and comparable sales

Analysis/Comments

Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005UAD Version 9/2011





Comparable 4

Prox. to Subj.Sales PriceG.L.A.Tot. RoomsTot. Bedrms.Tot. Bathrms.LocationViewSiteQualityAge

688 New Hope Rd3.32 miles NE795,0002,738622.0B;WtrFr;B;Wtr;2.0 acQ24

Comparable 5


Comparable 6


Borrower/Client

Lender



Comparable 4


688 New Hope Rd3.32 miles NE795,0002,738622.0B;WtrFr;B;Wtr;2.0 acQ24

Comparable 5


Comparable 6


Borrower/Client

Lender



File No.Market Conditions Addendum to the Appraisal ReportM

AR

KET

RES

EAR

CH

& A

NA

LYSI

SC

ON

DO

/CO

-OP

PRO

JEC

TSA

PPR

AIS

ER

The purpose of this addendum is to provide the lender/client with a clear and accurate understanding of the market trends and conditions prevalent in the subjectneighborhood. This is a required addendum for all appraisal reports with an effective date on or after April 1, 2009.Property Address City State ZIP CodeBorrowerInstructions: The appraiser must use the information required on this form as the basis for his/her conclusions, and must provide support for those conclusions, regardinghousing trends and overall market conditions as reported in the Neighborhood section of the appraisal report form. The appraiser must fill in all the information to the extentit is available and reliable and must provide analysis as indicated below. If any required data is unavailable or is considered unreliable, the appraiser must provide anexplanation. It is recognized that not all data sources will be able to provide data for the shaded areas below; if it is available, however, the appraiser must include the datain the analysis. If data sources provide the required information as an average instead of the median, the appraiser should report the available figure and identify it as anaverage. Sales and listings must be properties that compete with the subject property, determined by applying the criteria that would be used by a prospective buyer of thesubject property. The appraiser must explain any anomalies in the data, such as seasonal markets, new construction, foreclosures, etc.Inventory Analysis Prior 7–12 Months Prior 4–6 Months Current – 3 Months Overall Trend

Median Sale & List Price, DOM, Sale/List % Prior 7–12 Months Prior 4–6 Months Current – 3 Months

Total # of Comparable Sales (Settled)Absorption Rate (Total Sales/Months)Total # of Comparable Active ListingsMonths of Housing Supply (Total Listings/Ab.Rate)

Median Comparable Sale PriceMedian Comparable Sales Days on MarketMedian Comparable List PriceMedian Comparable Listings Days on MarketMedian Sale Price as % of List Price

Increasing Stable DecliningIncreasing Stable DecliningDeclining Stable IncreasingDeclining Stable Increasing

Overall TrendIncreasing Stable DecliningDeclining Stable IncreasingIncreasing Stable DecliningDeclining Stable IncreasingIncreasing Stable Declining

Seller-(developer, builder, etc.)paid financial assistance prevalent? Yes No Declining Stable IncreasingExplain in detail the seller concessions trends for the past 12 months (e.g., seller contributions increased from 3% to 5%, increasing use of buydowns, closing costs, condofees, options, etc.).

Are foreclosure sales (REO sales) a factor in the market? Yes No If yes, explain (including the trends in listings and sales of foreclosed properties).

Cite data sources for above information.

Summarize the above information as support for your conclusions in the Neighborhood section of the appraisal report form. If you used any additional information, such asan analysis of pending sales and/or expired and withdrawn listings, to formulate your conclusions, provide both an explanation and support for your conclusions.

If the subject is a unit in a condominium or cooperative project , complete the following: Project Name:Subject Project Data Prior 7–12 Months Prior 4–6 Months Current – 3 Months Overall TrendTotal # of Comparable Sales (Settled)Absorption Rate (Total Sales/Months)

Months of Unit Supply (Total Listings/Ab.Rate)Total # of Active Comparable Listings


Are foreclosure sales (REO sales) a factor in the project? Yes No If yes, indicate the number of REO listings and explain the trends in listings and sales offoreclosed properties.

Summarize the above trends and address the impact on the subject unit and project.

SignatureAppraiser NameCompany NameCompany AddressState License/Certification # State

Email Address

SignatureSupervisory Appraiser NameCompany NameCompany AddressState License/Certification # State

Email Address

Freddie Mac Form 71 March 2009 Page 1 of 1 Fannie Mae Form 1004MC March 2009

1612018

843 Winton Chapel Rd Rockwood TN 37854Mark Guettner

71.1714

12.0

525,000140

624,90030884

62.00157.5

530,000105

649,90021893

31.0023

23.0

550,00092

649,90014898

Seller concessions are trending toward less concessions with an increase of buying activity. Areas not included are notknown to this appraiser and could not be calculated due to the local KAARMLS system and are marked with N/A. The local KAARMLS systemdoes not have the information that is left out of this grid. Therefore, I could not complete the sections.

KAARMLS

In the last twelve month period with homes listed for sale between $500,000 to $800,000 there are 23 listed and 16 sold in Roane County.


139 West Madison Lane, Oak Ridge, TN 37830CG # 518 TN

[email protected]

Form 1004MC2 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

1612018

843 Winton Chapel Rd Rockwood TN 37854Mark Guettner

71.1714

12.0

525,000140

624,90030884

62.00157.5

530,000105

649,90021893

31.0023

23.0

550,00092

649,90014898

Seller concessions are trending toward less concessions with an increase of buying activity. Areas not included are notknown to this appraiser and could not be calculated due to the local KAARMLS system and are marked with N/A. The local KAARMLS systemdoes not have the information that is left out of this grid. Therefore, I could not complete the sections.

KAARMLS

In the last twelve month period with homes listed for sale between $500,000 to $800,000 there are 23 listed and 16 sold in Roane County.


139 West Madison Lane, Oak Ridge, TN 37830CG # 518 TN

[email protected]

Form 1004MC2 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

File No.Market Conditions Addendum to the Appraisal ReportM

AR

KET

RES

EAR

CH

& A

NA

LYSI

SC

ON

DO

/CO

-OP

PRO

JEC

TSA

PPR

AIS

ER

The purpose of this addendum is to provide the lender/client with a clear and accurate understanding of the market trends and conditions prevalent in the subjectneighborhood. This is a required addendum for all appraisal reports with an effective date on or after April 1, 2009.Property Address City State ZIP CodeBorrowerInstructions: The appraiser must use the information required on this form as the basis for his/her conclusions, and must provide support for those conclusions, regardinghousing trends and overall market conditions as reported in the Neighborhood section of the appraisal report form. The appraiser must fill in all the information to the extentit is available and reliable and must provide analysis as indicated below. If any required data is unavailable or is considered unreliable, the appraiser must provide anexplanation. It is recognized that not all data sources will be able to provide data for the shaded areas below; if it is available, however, the appraiser must include the datain the analysis. If data sources provide the required information as an average instead of the median, the appraiser should report the available figure and identify it as anaverage. Sales and listings must be properties that compete with the subject property, determined by applying the criteria that would be used by a prospective buyer of thesubject property. The appraiser must explain any anomalies in the data, such as seasonal markets, new construction, foreclosures, etc.Inventory Analysis Prior 7–12 Months Prior 4–6 Months Current – 3 Months Overall Trend

Median Sale & List Price, DOM, Sale/List % Prior 7–12 Months Prior 4–6 Months Current – 3 Months

Total # of Comparable Sales (Settled)Absorption Rate (Total Sales/Months)Total # of Comparable Active ListingsMonths of Housing Supply (Total Listings/Ab.Rate)

Median Comparable Sale PriceMedian Comparable Sales Days on MarketMedian Comparable List PriceMedian Comparable Listings Days on MarketMedian Sale Price as % of List Price


Overall TrendIncreasing Stable DecliningDeclining Stable IncreasingIncreasing Stable DecliningDeclining Stable IncreasingIncreasing Stable Declining

Seller-(developer, builder, etc.)paid financial assistance prevalent? Yes No Declining Stable IncreasingExplain in detail the seller concessions trends for the past 12 months (e.g., seller contributions increased from 3% to 5%, increasing use of buydowns, closing costs, condofees, options, etc.).

Are foreclosure sales (REO sales) a factor in the market? Yes No If yes, explain (including the trends in listings and sales of foreclosed properties).

Cite data sources for above information.

Summarize the above information as support for your conclusions in the Neighborhood section of the appraisal report form. If you used any additional information, such asan analysis of pending sales and/or expired and withdrawn listings, to formulate your conclusions, provide both an explanation and support for your conclusions.

If the subject is a unit in a condominium or cooperative project , complete the following: Project Name:Subject Project Data Prior 7–12 Months Prior 4–6 Months Current – 3 Months Overall TrendTotal # of Comparable Sales (Settled)Absorption Rate (Total Sales/Months)

Months of Unit Supply (Total Listings/Ab.Rate)Total # of Active Comparable Listings


Are foreclosure sales (REO sales) a factor in the project? Yes No If yes, indicate the number of REO listings and explain the trends in listings and sales offoreclosed properties.

Summarize the above trends and address the impact on the subject unit and project.

SignatureAppraiser NameCompany NameCompany AddressState License/Certification # State

Email Address

SignatureSupervisory Appraiser NameCompany NameCompany AddressState License/Certification # State

Email Address

Freddie Mac Form 71 March 2009 Page 1 of 1 Fannie Mae Form 1004MC March 2009


FIRREA / USPAP ADDENDUM


Purpose

Scope of Work

Intended Use / Intended UserIntended Use:Intended User(s):History of PropertyCurrent listing information:

Prior sale:

Exposure Time / Marketing Time

Personal (non-realty) Transfers

Additional Comments

Certification Supplement1. This appraisal assignment was not based on a requested minimum valuation, a specific valuation, or an approval of a loan.2. My compensation is not contingent upon the reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value

estimate, the attainment of a stipulated result or the occurrence of a subsequent event.

Appraiser:Signed Date:Certification or License #:Certification or License State: Expires:

SupervisoryAppraiser:Signed Date:Certification or License #:Certification or License State: Expires:Inspection of Subject: Did Not Exterior Only Interior and ExteriorEffective Date of Appraisal:

File No.Borrower/Client Mark Guettner843 Winton Chapel RdRockwood Roane TN 37854

Lender Mortgage Investors Group

The purpose of the appraisal is to estimate the market value of the subject property listed in this report.

The subject was inspected, measured, photographed and sales history reviewed. All comparable sales were visually inspected and their saleshistory reviewed. I did not personally inspect the interior of all of the comparable sales.

To estimate value of the subject property for loan purposes.Lender and Client

Not listed

Last recorded by owner 6/30/2014 via Quit Claim Deed.

6 months/6 months

None

This report was prepared/completed in accordance with Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA).

Thomas F. White, CG #51812/28/2016

CG # 518TN 12/23/2017

Form FUA_LT — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE


12/08/2016

1612018Borrower/Client Mark Guettner843 Winton Chapel RdRockwood Roane TN 37854

Lender Mortgage Investors Group

The purpose of the appraisal is to estimate the market value of the subject property listed in this report.

The subject was inspected, measured, photographed and sales history reviewed. All comparable sales were visually inspected and their saleshistory reviewed. I did not personally inspect the interior of all of the comparable sales.

To estimate value of the subject property for loan purposes.Lender and Client

Not listed

Last recorded by owner 6/30/2014 via Quit Claim Deed.

6 months/6 months

None

This report was prepared/completed in accordance with Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA).


CG # 518TN 12/23/2017

Form FUA_LT — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE


12/08/2016

1612018FIRREA / USPAP ADDENDUM


Purpose

Scope of Work

Intended Use / Intended UserIntended Use:Intended User(s):History of PropertyCurrent listing information:

Prior sale:

Exposure Time / Marketing Time

Personal (non-realty) Transfers

Additional Comments

Certification Supplement1. This appraisal assignment was not based on a requested minimum valuation, a specific valuation, or an approval of a loan.2. My compensation is not contingent upon the reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value

estimate, the attainment of a stipulated result or the occurrence of a subsequent event.

Appraiser:Signed Date:Certification or License #:Certification or License State: Expires:

SupervisoryAppraiser:Signed Date:Certification or License #:Certification or License State: Expires:Inspection of Subject: Did Not Exterior Only Interior and ExteriorEffective Date of Appraisal:

File No.


USPAP ADDENDUM File No.BorrowerProperty AddressCity County State Zip CodeLender

This report was prepared under the following USPAP reporting option:Appraisal Report This report was prepared in accordance with USPAP Standards Rule 2-2(a).

Restricted Appraisal Report This report was prepared in accordance with USPAP Standards Rule 2-2(b).

Reasonable Exposure TimeMy opinion of a reasonable exposure time for the subject property at the market value stated in this report is:

Additional CertificationsI certify that, to the best of my knowledge and belief:

I have NOT performed services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within thethree-year period immediately preceding acceptance of this assignment.

I HAVE performed services, as an appraiser or in another capacity, regarding the property that is the subject of this report within the three-yearperiod immediately preceding acceptance of this assignment. Those services are described in the comments below.

Additional Comments

APPRAISER:

Signature:Name:Date Signed:State Certification #:or State License #:State:Expiration Date of Certification or License:Effective Date of Appraisal:

SUPERVISORY APPRAISER: (only if required)

Signature:Name:Date Signed:State Certification #:or State License #:State:Expiration Date of Certification or License:Supervisory Appraiser Inspection of Subject Property:

Did Not Exterior-only from Street Interior and Exterior


6 months

— The statements of fact contained in this report are true and correct.— The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, impartial, and unbiasedprofessional analyses, opinions, and conclusions.— Unless otherwise indicated, I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the partiesinvolved.— I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.— My engagement in this assignment was not contingent upon developing or reporting predetermined results.— My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause ofthe client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal.— My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice thatwere in effect at the time this report was prepared.— Unless otherwise indicated, I have made a personal inspection of the property that is the subject of this report.— Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification (if there are exceptions, the name of eachindividual providing significant real property appraisal assistance is stated elsewhere in this report).

This appraisal was done in accordance to FIRREA.


CG # 518

TN12/23/2017

12/08/2016

Form ID14AP — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE


6 months

— The statements of fact contained in this report are true and correct.— The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, impartial, and unbiasedprofessional analyses, opinions, and conclusions.— Unless otherwise indicated, I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the partiesinvolved.— I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.— My engagement in this assignment was not contingent upon developing or reporting predetermined results.— My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause ofthe client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal.— My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice thatwere in effect at the time this report was prepared.— Unless otherwise indicated, I have made a personal inspection of the property that is the subject of this report.— Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification (if there are exceptions, the name of eachindividual providing significant real property appraisal assistance is stated elsewhere in this report).

This appraisal was done in accordance to FIRREA.


CG # 518

TN12/23/2017

12/08/2016

Form ID14AP — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

USPAP ADDENDUM File No.BorrowerProperty AddressCity County State Zip CodeLender

This report was prepared under the following USPAP reporting option:Appraisal Report This report was prepared in accordance with USPAP Standards Rule 2-2(a).

Restricted Appraisal Report This report was prepared in accordance with USPAP Standards Rule 2-2(b).

Reasonable Exposure TimeMy opinion of a reasonable exposure time for the subject property at the market value stated in this report is:

Additional CertificationsI certify that, to the best of my knowledge and belief:

I have NOT performed services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within thethree-year period immediately preceding acceptance of this assignment.

I HAVE performed services, as an appraiser or in another capacity, regarding the property that is the subject of this report within the three-yearperiod immediately preceding acceptance of this assignment. Those services are described in the comments below.

Additional Comments

APPRAISER:

Signature:Name:Date Signed:State Certification #:or State License #:State:Expiration Date of Certification or License:Effective Date of Appraisal:

SUPERVISORY APPRAISER: (only if required)

Signature:Name:Date Signed:State Certification #:or State License #:State:Expiration Date of Certification or License:Supervisory Appraiser Inspection of Subject Property:

Did Not Exterior-only from Street Interior and Exterior


File No.

UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM(Source: Fannie Mae UAD Appendix D: UAD Field-Specific Standardization Requirements)

Condition Ratings and Definitions

C1

The improvements have been recently constructed and have not been previously occupied. The entire structure and all components are newand the dwelling features no physical depreciation.

Note: Newly constructed improvements that feature recycled or previously used materials and/or components can be considered new dwellingsprovided that the dwelling is placed on a 100 percent new foundation and the recycled materials and the recycled components have beenrehabilitated/remanufactured into like-new condition. Improvements that have not been previously occupied are not considered “new” if theyhave any significant physical depreciation (that is, newly constructed dwellings that have been vacant for an extended period of time withoutadequate maintenance or upkeep).

C2

The improvements feature no deferred maintenance, little or no physical depreciation, and require no repairs. Virtually all building componentsare new or have been recently repaired, refinished, or rehabilitated. All outdated components and finishes have been updated and/or replacedwith components that meet current standards. Dwellings in this category are either almost new or have been recently completely renovated andare similar in condition to new construction.

Note: The improvements represent a relatively new property that is well maintained with no deferred maintenance and little or no physicaldepreciation, or an older property that has been recently completely renovated.

C3The improvements are well maintained and feature limited physical depreciation due to normal wear and tear. Some components, but not everymajor building component, may be updated or recently rehabilitated. The structure has been well maintained.

Note: The improvement is in its first-cycle of replacing short-lived building components (appliances, floor coverings, HVAC, etc.) and isbeing well maintained. Its estimated effective age is less than its actual age. It also may reflect a property in which the majority ofshort-lived building components have been replaced but not to the level of a complete renovation.

C4The improvements feature some minor deferred maintenance and physical deterioration due to normal wear and tear. The dwelling has beenadequately maintained and requires only minimal repairs to building components/mechanical systems and cosmetic repairs. All major buildingcomponents have been adequately maintained and are functionally adequate.

Note: The estimated effective age may be close to or equal to its actual age. It reflects a property in which some of the short-lived buildingcomponents have been replaced, and some short-lived building components are at or near the end of their physical life expectancy; however,they still function adequately. Most minor repairs have been addressed on an ongoing basis resulting in an adequately maintained property.

C5The 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 remainsuseable and functional as a residence.

Note: Some significant repairs are needed to the improvements due to the lack of adequate maintenance. It reflects a property in which manyof its short-lived building components are at the end of or have exceeded their physical life expectancy but remain functional.

C6The improvements have substantial damage or deferred maintenance with deficiencies or defects that are severe enough to affect the safety,soundness, or structural integrity of the improvements. The improvements are in need of substantial repairs and rehabilitation, including manyor most major components.

Note: Substantial repairs are needed to the improvements due to the lack of adequate maintenance or property damage. It reflects a propertywith conditions severe enough to affect the safety, soundness, or structural integrity of the improvements.

Quality Ratings and Definitions

Q1

Dwellings with this quality rating are usually unique structures that are individually designed by an architect for a specified user. Suchresidences typically are constructed from detailed architectural plans and specifications and feature an exceptionally high level of workmanshipand exceptionally high-grade materials throughout the interior and exterior of the structure. The design features exceptionally high-qualityexterior refinements and ornamentation, and exceptionally high-quality interior refinements. The workmanship, materials, and finishesthroughout the dwelling are of exceptionally high quality.

Q2Dwellings with this quality rating are often custom designed for construction on an individual property owner’s site. However, dwellings inthis quality grade are also found in high-quality tract developments featuring residence constructed from individual plans or from highlymodified or upgraded plans. The design features detailed, high quality exterior ornamentation, high-quality interior refinements, and detail. Theworkmanship, materials, and finishes throughout the dwelling are generally of high or very high quality.

UAD Version 9/2011 (Updated 1/2014)

1612018

Form UADDEFINE1A — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

1612018

Form UADDEFINE1A — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

File No.


Condition Ratings and Definitions

C1

The improvements have been recently constructed and have not been previously occupied. The entire structure and all components are newand the dwelling features no physical depreciation.

Note: Newly constructed improvements that feature recycled or previously used materials and/or components can be considered new dwellingsprovided that the dwelling is placed on a 100 percent new foundation and the recycled materials and the recycled components have beenrehabilitated/remanufactured into like-new condition. Improvements that have not been previously occupied are not considered “new” if theyhave any significant physical depreciation (that is, newly constructed dwellings that have been vacant for an extended period of time withoutadequate maintenance or upkeep).

C2

The improvements feature no deferred maintenance, little or no physical depreciation, and require no repairs. Virtually all building componentsare new or have been recently repaired, refinished, or rehabilitated. All outdated components and finishes have been updated and/or replacedwith components that meet current standards. Dwellings in this category are either almost new or have been recently completely renovated andare similar in condition to new construction.

Note: The improvements represent a relatively new property that is well maintained with no deferred maintenance and little or no physicaldepreciation, or an older property that has been recently completely renovated.

C3The improvements are well maintained and feature limited physical depreciation due to normal wear and tear. Some components, but not everymajor building component, may be updated or recently rehabilitated. The structure has been well maintained.

Note: The improvement is in its first-cycle of replacing short-lived building components (appliances, floor coverings, HVAC, etc.) and isbeing well maintained. Its estimated effective age is less than its actual age. It also may reflect a property in which the majority ofshort-lived building components have been replaced but not to the level of a complete renovation.

C4The improvements feature some minor deferred maintenance and physical deterioration due to normal wear and tear. The dwelling has beenadequately maintained and requires only minimal repairs to building components/mechanical systems and cosmetic repairs. All major buildingcomponents have been adequately maintained and are functionally adequate.

Note: The estimated effective age may be close to or equal to its actual age. It reflects a property in which some of the short-lived buildingcomponents have been replaced, and some short-lived building components are at or near the end of their physical life expectancy; however,they still function adequately. Most minor repairs have been addressed on an ongoing basis resulting in an adequately maintained property.

C5The 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 remainsuseable and functional as a residence.

Note: Some significant repairs are needed to the improvements due to the lack of adequate maintenance. It reflects a property in which manyof its short-lived building components are at the end of or have exceeded their physical life expectancy but remain functional.

C6The improvements have substantial damage or deferred maintenance with deficiencies or defects that are severe enough to affect the safety,soundness, or structural integrity of the improvements. The improvements are in need of substantial repairs and rehabilitation, including manyor most major components.

Note: Substantial repairs are needed to the improvements due to the lack of adequate maintenance or property damage. It reflects a propertywith conditions severe enough to affect the safety, soundness, or structural integrity of the improvements.

Quality Ratings and Definitions

Q1

Dwellings with this quality rating are usually unique structures that are individually designed by an architect for a specified user. Suchresidences typically are constructed from detailed architectural plans and specifications and feature an exceptionally high level of workmanshipand exceptionally high-grade materials throughout the interior and exterior of the structure. The design features exceptionally high-qualityexterior refinements and ornamentation, and exceptionally high-quality interior refinements. The workmanship, materials, and finishesthroughout the dwelling are of exceptionally high quality.

Q2Dwellings with this quality rating are often custom designed for construction on an individual property owner’s site. However, dwellings inthis quality grade are also found in high-quality tract developments featuring residence constructed from individual plans or from highlymodified or upgraded plans. The design features detailed, high quality exterior ornamentation, high-quality interior refinements, and detail. Theworkmanship, materials, and finishes throughout the dwelling are generally of high or very high quality.




Quality Ratings and Definitions (continued)

Q3Dwellings with this quality rating are residences of higher quality built from individual or readily available designer plans in above-standardresidential tract developments or on an individual property owner’s site. The design includes significant exterior ornamentation and interiorsthat are well finished. The workmanship exceeds acceptable standards and many materials and finishes throughout the dwelling have beenupgraded from “stock” standards.

Q4Dwellings with this quality rating meet or exceed the requirements of applicable building codes. Standard or modified standard building plansare utilized and the design 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.

Q5Dwellings with this quality rating feature economy of construction and basic functionality as main considerations. Such dwellings feature aplain design using readily available or basic floor plans featuring minimal fenestration and basic finishes with minimal exterior ornamentationand limited interior detail. These dwellings meet minimum building codes and are constructed with inexpensive, stock materialswith limited refinements and upgrades.

Q6Dwellings with this quality rating are of basic quality and lower cost; some may not be suitable for year-round occupancy. Such dwellingsare often built with simple plans or without plans, often utilizing the lowest quality building materials. Such dwellings are often built orexpanded by persons who are professionally unskilled or possess only minimal construction skills. Electrical, plumbing, and other mechanicalsystems and equipment may be minimal or non-existent. Older dwellings may feature one or more substandard or non-conforming additionsto the original structure

Definitions 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 fifteen years of age or less often reflect an original condition with no updating, if no majorcomponents have been replaced or updated. Those over fifteen years of age are also considered not updated if theappliances, fixtures, and finishes are predominantly dated. An area that is ‘Not Updated’ may still be well maintainedand fully functional, and this rating does not necessarily imply deferred maintenance or physical/functional deterioration.

UpdatedThe area of the home has been modified to meet current market expectations. These modificationsare limited in terms of both scope and cost.

An updated area of the home should have an improved look and feel, or functional utility. Changes that constituteupdates include refurbishment and/or replacing components to meet existing market expectations. Updates do notinclude significant alterations to the existing structure.

RemodeledSignificant finish and/or structural changes have been made that increase utility and appeal throughcomplete replacement and/or expansion.A remodeled area reflects fundamental changes that include multiple alterations. These alterations may includesome or all of the following: replacement of a major component (cabinet(s), bathtub, or bathroom tile), relocationof plumbing/gas fixtures/appliances, significant structural alterations (relocating walls, and/or the addition of)square footage). This would include a complete gutting and rebuild.

Explanation of Bathroom Count

Three-quarter baths are counted as a full bath in all cases. Quarter baths (baths that feature only a toilet) are notincluded in the bathroom count. The number of full and half baths is reported by separating the two values using aperiod, where the full bath count is represented to the left of the period and the half bath count is represented to theright of the period.

Example:3.2 indicates three full baths and two half baths.


Form UADDEFINE1A — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODEForm UADDEFINE1A — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE


Quality Ratings and Definitions (continued)

Q3Dwellings with this quality rating are residences of higher quality built from individual or readily available designer plans in above-standardresidential tract developments or on an individual property owner’s site. The design includes significant exterior ornamentation and interiorsthat are well finished. The workmanship exceeds acceptable standards and many materials and finishes throughout the dwelling have beenupgraded from “stock” standards.

Q4Dwellings with this quality rating meet or exceed the requirements of applicable building codes. Standard or modified standard building plansare utilized and the design 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.

Q5Dwellings with this quality rating feature economy of construction and basic functionality as main considerations. Such dwellings feature aplain design using readily available or basic floor plans featuring minimal fenestration and basic finishes with minimal exterior ornamentationand limited interior detail. These dwellings meet minimum building codes and are constructed with inexpensive, stock materialswith limited refinements and upgrades.

Q6Dwellings with this quality rating are of basic quality and lower cost; some may not be suitable for year-round occupancy. Such dwellingsare often built with simple plans or without plans, often utilizing the lowest quality building materials. Such dwellings are often built orexpanded by persons who are professionally unskilled or possess only minimal construction skills. Electrical, plumbing, and other mechanicalsystems and equipment may be minimal or non-existent. Older dwellings may feature one or more substandard or non-conforming additionsto the original structure

Definitions 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 fifteen years of age or less often reflect an original condition with no updating, if no majorcomponents have been replaced or updated. Those over fifteen years of age are also considered not updated if theappliances, fixtures, and finishes are predominantly dated. An area that is ‘Not Updated’ may still be well maintainedand fully functional, and this rating does not necessarily imply deferred maintenance or physical/functional deterioration.

UpdatedThe area of the home has been modified to meet current market expectations. These modificationsare limited in terms of both scope and cost.

An updated area of the home should have an improved look and feel, or functional utility. Changes that constituteupdates include refurbishment and/or replacing components to meet existing market expectations. Updates do notinclude significant alterations to the existing structure.

RemodeledSignificant finish and/or structural changes have been made that increase utility and appeal throughcomplete replacement and/or expansion.A remodeled area reflects fundamental changes that include multiple alterations. These alterations may includesome or all of the following: replacement of a major component (cabinet(s), bathtub, or bathroom tile), relocationof plumbing/gas fixtures/appliances, significant structural alterations (relocating walls, and/or the addition of)square footage). This would include a complete gutting and rebuild.

Explanation of Bathroom Count

Three-quarter baths are counted as a full bath in all cases. Quarter baths (baths that feature only a toilet) are notincluded in the bathroom count. The number of full and half baths is reported by separating the two values using aperiod, where the full bath count is represented to the left of the period and the half bath count is represented to theright of the period.

Example:3.2 indicates three full baths and two half baths.




Abbreviations Used in Data Standardization Text

Abbreviation Full Name Fields Where This Abbreviation May AppearA Adverse Location & Viewac Acres Area, SiteAdjPrk Adjacent to Park LocationAdjPwr Adjacent to Power Lines LocationArmLth Arms Length Sale Sale or Financing ConcessionsAT Attached Structure Design (Style)B Beneficial Location & Viewba Bathroom(s) Basement & Finished Rooms Below Gradebr Bedroom Basement & Finished Rooms Below GradeBsyRd Busy Road Locationc Contracted Date Date of Sale/TimeCash Cash Sale or Financing ConcessionsComm Commercial Influence LocationConv Conventional Sale or Financing Concessionscp Carport Garage/CarportCrtOrd Court Ordered Sale Sale or Financing ConcessionsCtySky City View Skyline View ViewCtyStr City Street View Viewcv Covered Garage/CarportDOM Days On Market Data SourcesDT Detached Structure Design (Style)dw Driveway Garage/Carporte Expiration Date Date of Sale/TimeEstate Estate Sale Sale or Financing ConcessionsFHA Federal Housing Authority Sale or Financing Concessionsg Garage Garage/Carportga Attached Garage Garage/Carportgbi Built-in Garage Garage/Carportgd Detached Garage Garage/CarportGlfCse Golf Course LocationGlfvw Golf Course View ViewGR Garden Design (Style)HR High Rise Design (Style)in Interior Only Stairs Basement & Finished Rooms Below GradeInd Industrial Location & ViewListing Listing Sale or Financing ConcessionsLndfl Landfill LocationLtdSght Limited Sight ViewMR Mid-rise Design (Style)Mtn Mountain View ViewN Neutral Location & ViewNonArm Non-Arms Length Sale Sale or Financing Concessionso Other Basement & Finished Rooms Below GradeO Other Design (Style)op Open Garage/CarportPrk Park View ViewPstrl Pastoral View ViewPwrLn Power Lines ViewPubTrn Public Transportation LocationRelo Relocation Sale Sale or Financing ConcessionsREO REO Sale Sale or Financing ConcessionsRes Residential Location & ViewRH USDA - Rural Housing Sale or Financing Concessionsrr Recreational (Rec) Room Basement & Finished Rooms Below GradeRT Row or Townhouse Design (Style)s Settlement Date Date of Sale/TimeSD Semi-detached Structure Design (Style)Short Short Sale Sale or Financing Concessionssf Square Feet Area, Site, Basementsqm Square Meters Area, SiteUnk Unknown Date of Sale/TimeVA Veterans Administration Sale or Financing Concessionsw Withdrawn Date Date of Sale/Timewo Walk Out Basement Basement & Finished Rooms Below GradeWoods Woods View ViewWtr Water View ViewWtrFr Water Frontage Locationwu Walk Up Basement Basement & Finished Rooms Below Grade


Form UADDEFINE1A — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODEForm UADDEFINE1A — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE


Abbreviations Used in Data Standardization Text

Abbreviation Full Name Fields Where This Abbreviation May AppearA Adverse Location & Viewac Acres Area, SiteAdjPrk Adjacent to Park LocationAdjPwr Adjacent to Power Lines LocationArmLth Arms Length Sale Sale or Financing ConcessionsAT Attached Structure Design (Style)B Beneficial Location & Viewba Bathroom(s) Basement & Finished Rooms Below Gradebr Bedroom Basement & Finished Rooms Below GradeBsyRd Busy Road Locationc Contracted Date Date of Sale/TimeCash Cash Sale or Financing ConcessionsComm Commercial Influence LocationConv Conventional Sale or Financing Concessionscp Carport Garage/CarportCrtOrd Court Ordered Sale Sale or Financing ConcessionsCtySky City View Skyline View ViewCtyStr City Street View Viewcv Covered Garage/CarportDOM Days On Market Data SourcesDT Detached Structure Design (Style)dw Driveway Garage/Carporte Expiration Date Date of Sale/TimeEstate Estate Sale Sale or Financing ConcessionsFHA Federal Housing Authority Sale or Financing Concessionsg Garage Garage/Carportga Attached Garage Garage/Carportgbi Built-in Garage Garage/Carportgd Detached Garage Garage/CarportGlfCse Golf Course LocationGlfvw Golf Course View ViewGR Garden Design (Style)HR High Rise Design (Style)in Interior Only Stairs Basement & Finished Rooms Below GradeInd Industrial Location & ViewListing Listing Sale or Financing ConcessionsLndfl Landfill LocationLtdSght Limited Sight ViewMR Mid-rise Design (Style)Mtn Mountain View ViewN Neutral Location & ViewNonArm Non-Arms Length Sale Sale or Financing Concessionso Other Basement & Finished Rooms Below GradeO Other Design (Style)op Open Garage/CarportPrk Park View ViewPstrl Pastoral View ViewPwrLn Power Lines ViewPubTrn Public Transportation LocationRelo Relocation Sale Sale or Financing ConcessionsREO REO Sale Sale or Financing ConcessionsRes Residential Location & ViewRH USDA - Rural Housing Sale or Financing Concessionsrr Recreational (Rec) Room Basement & Finished Rooms Below GradeRT Row or Townhouse Design (Style)s Settlement Date Date of Sale/TimeSD Semi-detached Structure Design (Style)Short Short Sale Sale or Financing Concessionssf Square Feet Area, Site, Basementsqm Square Meters Area, SiteUnk Unknown Date of Sale/TimeVA Veterans Administration Sale or Financing Concessionsw Withdrawn Date Date of Sale/Timewo Walk Out Basement Basement & Finished Rooms Below GradeWoods Woods View ViewWtr Water View ViewWtrFr Water Frontage Locationwu Walk Up Basement Basement & Finished Rooms Below Grade



37'

26'

19'19'

11' 11'

8'8'

7'

15'

11'11'

15'

7'

37'

26'

11'

12'

25'


Form SKT.BldSkI — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Building SketchMark Guettner843 Winton Chapel RdRockwood Roane TN 37854Mortgage Investors Group

Borrower/Client

Lender

37'

26'

19'19'

11' 11'

8'8'

7'

15'

11'11'

15'

7'

37'

26'

11'

12'

25'

Form SKT.BldSkI — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Building SketchMark Guettner843 Winton Chapel RdRockwood Roane TN 37854Mortgage Investors Group

Borrower/Client

Lender




Form MAP.LOC — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

AerialMark Guettner843 Winton Chapel RdRockwood Roane TN 37854Mortgage Investors Group

Borrower/Client

Lender


AerialMark Guettner843 Winton Chapel RdRockwood Roane TN 37854Mortgage Investors Group

Borrower/Client

Lender



Parcel Map

Form SCNLGL — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Parcel Map





Location MapMark Guettner843 Winton Chapel RdRockwood Roane TN 37854Mortgage Investors Group

Borrower/Client

Lender


Location MapMark Guettner843 Winton Chapel RdRockwood Roane TN 37854Mortgage Investors Group

Borrower/Client

Lender



File No.




Highest and best use analysis:

The site is physically able to hold a residential improvement. The site is legally able to hold a residential improvement.The best and most feasible use is residential. The site used as a residential site returns the most net present value to theowner. Therefore, the highest and best use of the site is its present use, as a residential site. The highest and best use ofthe improvements continue to be residential as they return a positive return to the owner in excess of the site as if vacant.

Highest/Best Use Analysis

Borrower/Client

Lender



Highest and best use analysis:

The site is physically able to hold a residential improvement. The site is legally able to hold a residential improvement.The best and most feasible use is residential. The site used as a residential site returns the most net present value to theowner. Therefore, the highest and best use of the site is its present use, as a residential site. The highest and best use ofthe improvements continue to be residential as they return a positive return to the owner in excess of the site as if vacant.

Highest/Best Use Analysis

Borrower/Client

Lender

File No.



File No.




• Assessor's Parcel Numbers and Parcel ID Numbers;

The way the report is written is correct. Per UAD rules, in Tennessee the Map Reference number is separate from the parcelnumber. The "Assessor's Parcel #" field in the appraisal report is for the parcel number only, not the entire Parcel IDNumber. Title reports can combine them but for an appraisal report it would be incorrect.

Parcel Numbers

Borrower/Client

Lender



• Assessor's Parcel Numbers and Parcel ID Numbers;

The way the report is written is correct. Per UAD rules, in Tennessee the Map Reference number is separate from the parcelnumber. The "Assessor's Parcel #" field in the appraisal report is for the parcel number only, not the entire Parcel IDNumber. Title reports can combine them but for an appraisal report it would be incorrect.

Parcel Numbers

Borrower/Client

Lender

File No.



License


License



Documents

APPRAISAL REPORT LOCATED AT: FOR: AS OF: BY · Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.). ... LP Septic Asphalt