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- Supplemental Addendum: FLD9 THE INTENDED USE OF THE APPRAISAL IS FOR FINANCIAL PURCHASING PURPOSES FOR NO OTHER THIRD PARTY USERS ARE IDENTIFIED BY THE APPRAISER. THE ESTIMATED LENGTH OF TIME THE PROPERTY INTEREST BEING APPRAISED WOULD HAVE BENN OFFERED ON THE MARKET PRIOR TO THE HYPOTHETICAL CONSUMMATION OF A SALE AT MARKET VALUE ON THE EFFECTIVE DATE OF THE APPRAISAL; A RETROSPECTIVE OPINION BASED ON AN ANALYSIS OF PAST EVENTS ASSUMING A .COMPETITIVE AND OPEN MARKET. THE APPRAISER HAS DETERMINED THE SUBJECT PROPERTY WOULD AVE TO BE'EXPOSED FOR 3 TO 6 MONTHS ON THE OPEN MARKET IN ORDER TO HAVE A MARKET VALUE OF $105,000 ON THE EFFECTIVE DATE OF THIS APPRAISAL THE UNDERSIGNED APPRAISER IS RESPONSIBLE FOR PREPARING THE ABOVE REFERENCED APPRAISAL REPORT HEREBY CERTIFY THAT THE REPORT WAS COMPLETED AND THE OPINION OF VALUE DEVELOPED IN ACCORDANCE WITH USPAP STANDARDS; AND, AT NO TIME DID ANY EMPLOYEE, DIRECTOR, OFFICER, OR AGENT OF TE LENDER, OR ANY OTHER THIRD PARTY ACTING AS JOINT VENTURE PARTNER, INDEPENDENT CONTRACTOR, APPRAISAL COMPANY, APPRAISAL MANAGEMENT COMPANY OR PARTNER ON BEHALF OF THE LENDER, INFLUENCE OR ATTEMPT TO INFLUENCE THE DEVELOPMENT, REPORTING, RESULT, OR REVIEW OF THE REPORT. THE APPRAISER FURTHER CERTIFIES THAT AT NO TIME WAS.1 PROVIDED WITH OR INFORMED OF ANY ESTIMATE REGARDING THE SUBJECT PROPERTY'S VALUE INCLUDING BUT NOT LIMITED TO A BORROWER ESTIMATE OF VALUE, PROPOSED LOAN AMOUNT, OR LOAN TO VALUE RATIO (LTV), EXCEPT IN THE CASE OF PURCHASE TRANSACTION WHERE ACCORDING TO USPAP STANDARDS RULE 1-5(a) THE APPRAISER IS REQUIRED TO ANALYSIS ALL AGREEMENTS OF SALE, OPTIONS, AND LISTING OF THE SUBJECT PROPERTY AS OF THE EFFECTIVE DATE OF THE APPRAISAL. APPRAISALS ARE.NO GUARANTEE THAT THE PROPERTY IS FREE FROM DEFECT. THE APPRAISAL ONLY ESTABLISHES THE VALUE OF THE PROPERTY FOR MARKETING PURPOSES. BUYERS NEED TO SECURE THEIR OWN HOME INSPECTION. THROUGH THE SERVICES OF A QUALIFIED INSPECTOR AND SATISFY THEMSELVES ABOUT THE CONDITION OF THE PROPERTY. ADDITIONAL CERTIFICATION CHARLOTTE M. STAHLBERG, CREA CERT RES RD5117, HAS COMPLETED THE REQUIRED EDUCATION FOR STATE CERTIFICATION AND THE NATIONAL REAL ESTATE APPRAISERS. CONDITION OF SUBJECT ACCORDING TO THE REALTOR THE KITCHEN, BATHROOMS, WOOD & TILE FLOOR COVERING, IMPACT WINDOWS AND PLANTATION SHUTTER HAVE BEEN UPDATED AND INSTALLED WITHIN THE LAST 4 YEARS. THIS IS REFLECTED IN THE EFFECTIVE AGE, ALTHOUGH COMPARABLE 31S YOUNGER, IT IS NOT IN SIMILAR UPDATED CONDITION AS THE SUBJECT. THIS IS REFLECTED IN THE EFFECTIVE AGE, ALTHOUGH SALES 18 3 ARE OVER 1 MILE FROM THE SUBJECT THEY WERE UTILIZED TO BRACKET THE SQUARE FOOTAGE OF THE SUBJECT, AND ARE IN SIMILAR COMPETING 65+ CONDOMINIUM GOLF COMMUNITIES AND NOT ADVERSE. PROJECT INFORMATION PROVIDED BY THE HOA —EN'(-MANAGER-7610OW!! THERE ARE DEED OR RESALE RESTRICTIONS THE PROJECT IS 100% COMPLETE THERE IS NOT ADDITIONAL PHASING OR ANNEXATION. THE PROJECT IS NOT LEGALLY PHASED. THE DEVELOPER TRANSFERRED CONTROL OF THE HOA IN 1.954 THE PROJECT WAS BUILT FROM 1981-1984 THERE ARE 16 UNIT OWNER OVER 60 DAY DELINQUENT ON COMMON EXPENSE ASSESSMENTS IN THE EVENT A LENDER ACQUIRES A UNIT DUE TO FORECLOSURE OR DEED -IN -LIEU OF FORECLOSURE THE MORTGAGEE IS RESPONSIBLE FOR PAYING DELINQUENT COMMON EXPANSE ASSESSMENTS. (12 MONTHS OR 1% WHICH EVER IS LESS) THE MORTGAGEE IS RESPONSIBLE FOR PAYING COMMON EXPENSE ASSESSMENTS 7-12 MONTHS THE HOA IS NOT INVOLVED IN ANY ACTIVE OR PENDING LITIGATIONS. THERE ARE 644 UNITS NO UNITS ARE UNDER BONA -FIDE SALES CONTRACTS THERE ARE 529 UNITS SOLD TO OWNER OCCUPANTS THERE ARE 100 UNITS SOLD TO 2ND HOME OWNERS THERE ARE 16 UNITS SOLD TO INVESTORS THERE ARE INDIVIDUALS THAT OWN MORE THAN ON UNIT (HEMMINGS-6, ALTMANN-4, & DEIDRERCH-3) NO UNITS ARE USED FOR COMMERCIAL OR NON-RESIDENTIAL PURPOSES THE PROJECT IS NOT LOCATED IN A FLOOD ZONE. THERE HOA MAINTAINS SEPARATE ACCOUNTS FOR OPERATING & RESERVE FUNDS. APPROPRIATE ACCESS CONTROLS ARE IN PLACE FOR EACH ACCOUNT. THE BANK SENDS COPIES OF MONTHLY BANK STATEMENTS DIRECTLY TO THE HOA. 2 MEMBERS OF THE HOA BOARD OF DIRECTORIES ARE REQUIRED TO SIGN ANY CHECK WRITTEN ON RESERVE ACCOUNT. THE MANAGEMENT COMPANY MAINTAINS SEPARATE RECORDS AND BANK ACCOUNTS FOR EACH HOA THAT USES ITS SERVICES. THE MANAGEMENT COMPANY DOES NOT HAVE THE AUTHORITY TO DRAW CHECKS ON, OR TRANSFER FUNDS FROM, THE RESERVE ACCOUNT OF THE HOA. THE INSURANCE COMPANY IS BROWN & BROWN. Form TARO -'TOTAL" appraisal software by a la made, Inc.-1-800•ALAMODE -39-