Cronk.pdf

Richard D Cronk Petitioner V Township Of Attica Respondent · 26-002445-TT

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RECEIVED 

MAY 19 2026 

2 

MICHIGAN TAX TRIBUNAL 

STATE OF MICHIGAN 

GRETCHEN WHITMER 

DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS 

MARLON I. BROWN, DPA 

GOVERNOR 

LANSING 

DIRECTOR 

PROPERTY TAX APPEAL PETITION FORM 

VALUATION / UNCAPPING 

Do not use this form to appeal Classification, Principal Residence Exemption, Qualified Agricultural Exemption, Other 

Exemptions, Special Assessments, or Non-Property tax disputes. 

Pursuant to Tax Tribunal Rule (TTR) 279, you MUST submit a copy of the notice giving rise to the appeal (i.e., Board of 

Review Decision or other notice) with this petition, if applicable. 

If you do not submit this document, you may be held in 

default. 

Section 1: Petitioner’s Contact Information 

"H.che rd = EVV) 

Mailing or , Street, P.O. Box 

ral Rol 

VA 

Cityor Town 

© 

/ 

© 

4 

es fc 

iy, ch, 

Viz} 

(Bb E/5 090) 

Email Address (do “FF 

enter unless you want MTT to send 

all 

oA 

ence via email) 

pI 

} 

buy 

od uit. [AN 

Section 2: Petitioner’s AttorndyiAuthorized Representative’s Contact Information 

First Name 

MIL. 

Last Name 

ZIP Code Fre 

7 

™ 

Firm Name (if any) 

Mailing Address (No., Street, P.O. Box or Rural Route) 

City or Town 

State 

ZIP Code 

Telephone Number 

Email Address (do not enter unless you want MTT to send all correspondence via email) 

Section 3: Subject Property Information *use the multiple parcel form for additional, contiguous parcels. 

How many parcels are you 

If you are appealing more than one parcel, are they contiguous or adjoining? 

appealing? 

| D 

ves® 

[ml] No** 

L 

**If No, you must file separate appeals for each parcel 

Property r= 

(No., § Pg 

WV i 

Lost ge 

p) 

City or we 

County 

State 

ZIP Code

eommm, 

STATE OF MICHIGAN 

GOVERNOR 

DIRECTOR 

LANSING 

Section 4: Check which of the following you are appealing (check all that apply) 

GRETCHEN WHITMER 

DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS 

MARLON I. BROWN, DPA 

True Cash and Taxable Value 

[B{ Taxable Value Only (calculation) 

[J Uncapping of Taxable Value 

Section 5: Explain the Reason for this Appeal 

—Z 

just 

be Ҥ bod abr preps 

yin 

Duly ob 5, Ah bake hel + appa se 

6+ 

265600 

Sar bod, pals and baudss us me, 

appro 

8 

{ 

J Hl aay Ao get +h, 

) va 

T Ae PREFER fondle 

ly A 

Cl 

me 

ow 

ag 

/54.000 ard Mood 

08 vale, 2204 had 

Section 6: Jurisdictional Issues 

i 

£) », ud 

b 

¢ 

135 

Did you protest the assessment at a Board of Review wor) 

ATT Yes 

OJ No 

vo Ls 

If Yes, check which BOR you attended 

March 

[Hl] July 

[IH] December 

If No, please check the applicable reason(s): 

Od 

Not required to attend 

ad Appealing a purported Clerical Error or Mutual Mistake of Fact (if yes, include explanation in Section 5) 

Od Appealing within 35 days of State Tax Commission Order 

0 Appealing within 35 days of receipt of Notice of Uncapping 

Other 

If you checked “other” above, explain:

JERR B 

STATE OF MICHIGAN 

GRETCHEN WHITMER 

DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS 

MARLON I. BROWN, DPA 

GOVERNOR 

LANSING 

DIRECTOR 

Section 7: Valuation Information *use the multiple parcel form for additional, contiguous parcels. 

Parcel Number: 

2032 ~0)6-322-/0 and oo3eoys 022 “80 

Classification 

of Property: 

Real (J 

 Perstnal [1 (check one) 

Agricultural (J 

Commercial I 

Industrial (J 

Residential ff 

Timber-Cutover [] 

~~ Developmental (0 

Utility J (check one) 

Assessed Value (also known as State Equalized Value) established 

| Taxable Value established by the Board of Review: 

by the Board of Review: 

What do you believe is the fair market value (also known as true cash value)? 

0. 8v) + 

A258 24 

218 pod) TAL 

What do you believe is the assessed value? (hultiply true cash 

What do you believads the taxable value? (cannot exceed 

value by 5) 

> e, P) [Y7i 

/72, 2 

assessed value) 20, and 

= 

/] 2,42 

Fee Information 

Does the property have a Principal Residence Exemption of at least 50% as of the date of the filing of this petition for all tax years at 

issue? 

A 

res 

no 

If you answered yes to the above question, you are not required to pay any filing fees. 

If the property does not have a Principal Residence Exemption of at least 50% as of the date of the filing of this petition for all tax years at 

issue, the filing fee is based on the greater of the State Equalized Value or Taxable Value in dispute. 

If you are appealing more than one 

parcel, the parcel with the highest State Equalized Value or Taxable Value in dispute will be used to determine your filing fee, plus $25.00 

will be added for each additional parcel being appealed, not to exceed a total filing fee of $1,000.00 

If your property is residential property (see MCL 205.762) and 

the State Equalized Value or Taxable Value in contention is: 

Filing Fee is: 

$100,000.00 and under 

$125.00 

$100,000.01 to $500,000.00 

$200.00 

$Over $500,000.00 

$300.00 

If the property is NOT residential property (see MCL 205.762) and 

the State Equalized Value or Taxable Value in contention is: 

Filing Fee is: 

$100,000.00 and under 

$250.00 

* Plus $25.00 for each additional parcel, as indicated above. 

If the property is NOT residential property and the State Equalized Value or Taxable Value in dispute is $100,000.01 or greater the 

appeal does not qualify for Small Claims. Therefore, an Entire Tribunal petition must be filed. 

Signature *regdfféa J/ 

| 

Petitioner or Alt 7 Ee 

a 

| {_" 

Vr 

Md

AY 

Loo h Pores Ape 

255220620 

Uniform Residential Appraisal Report 

Fie No. 25-0100 

The purpose of this summary apifaisal report is lo provide the lender/client wilh an accurale. and adequately supported, opinion of the market value of the subject property 

Property Address 73 S Lake George Rd 

City Attica 

State Ml 

Zip Code 48412 

Boyower Richard Cronk J 

Owner of Public Record Billie Adler/Eleanor Adler 

County Lapeer 

Tax Year 2024 

RE Taxes$ 1,572 

Map Reference SMSA-2160 

Census Tract 3385 

Vacant 

Special Assessments 

$ 0 

(Jrup__Hoas 0 

(Jperyear 

(J per month 

XJFee Simple 

(J Leasehold 

(Other (describe) 

Assignment Type 

aT 

XJ Purchase Transaction 

[J Refinance Transaction [J Other (describe) 

Lender/Clent Guaranteed Rate 

Address 3940 N Ravenswood Ave, Chicago, 

IL 60613 

Is the subiect property currently offered for sale or has it been offered for sale in the twelve months prior to the effective dale 

of this appraisal? 

Yes (Jto 

Report dala source(s) used, offering price(s), 

and date(s). 

DOM 4;Has a pending sale as of 06/13/2025 for $269,900. The reference number is 

Bll #20250037056 as provided by RealComp, days on market is 4. The subject property is currently a pending 

< continued in addendum > 

1 

(XJaid (aid not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the conlract for sale of why the analysis was not performed. 

Arms length sale; The apprasier has analyzed the sales contract and has deemed this to be a typical arm's length purchase. 

I 

13) 

IF] contract Price s 310,000 

Datc of Contract 06/13/2025 

ls the property sellt the owner of putlc record? 

__[X) 

Yes [Ito 

Data Source(s) Contract/PRD 

= 

Is there any financial assistance 

(oan charges, sale concessions, gl or dosmpayment assistance, elc) to be paid by any party on behalf of he borrower? 

(J Yes (Xo 

IBS] 

11 ves, report the total doliar amount and describe 

the items lo be paid. 

$0::No financial assistance provided. 

Note: Race and the racial composition 

of the neighborhood are not appraisal factors. 

Neighborhood Characteristics. 

One-UnitHousing Trends 

One-Unit Housing 

PresentLand Use % 

Location 

Urban 

XJ Suburban 

Rural 

Properly Values 

Increasing 

X] Stable 

Declining 

PRICE 

AGE | One-Unit 

80 % 

ultUp 

(XJover7s% [ 

J25.75% 

Under 25% | Demand/Supply [J Shortage 

In Balance [J Over Supply | 

$(000) 

(yrs) 

| 2-4 Unit 

0% 

Guonth 

_[JRapid 

_ 

[X] stable 

Slow 

Warketing Time 

_(XJUnder 3mihs 

[ 

J3-6mihs 

[ 

JOver bins 

90 Low 

4 | Multi-Family 

0% 

Neighborhood Boundaries The subject is located north of Dryden Road, south of Kings Mill Road, 

750 High 

150 | Commercial 

5% 

east of M-24, and west of M-53. 

250 Pred 

60 | Other Vacant 

15% 

Neighborhood Descriplion 

The subject is located in a neighborhood with homes similar in style and nature. Employment in the area seems to 

be varied. Shopping and recreation facilities are located in the immediate area. Commercial property is located within the area however 

does not affect the subject in a negative manner. 

Market Conditions (including support for the above conclusions) 

See Attached Addendum 

NEIGHBORHOOD 

Dimensions 373 x 634 

Area 5.43 ac 

Shape Rectangular 

view N;Res; 

Specific Zoning Classification R-1 

Zoning Description One Family Residential 

Zoning Compliance 

egal 

[J Legal Nonconforming (Grandfathered Use) 

[No Zoning [J llegal (describe) See Attached Addendum 

Is he highest 

and best use of the subj property 

as improved (or as proposed per plans and specifications) the presentuse? 

 (XJYes [JNo 

 Iftio, describe. See Attached 

Addendum 

Utilities 

Public 

Other (describe) 

Public 

Other (describe) 

Off-sitelmprovements—Type 

Public 

Private 

Eleclricity 

X 

Water 

XJ 

Well 

Street Paved 

X 

Gas 

XJ) 

Propane 

Sanitary Sewer 

X] 

Septic 

Alley 

None 

FEMA Special Flood Hazard Area (J 

Yes (XJNo 

FEMA Flood Zone 

X 

FEMAMap# 

26087C0300E 

FEMA Map Dale 09/19/2007 

Ave the utilities and off-site improvements typical for the market area? 

Yes (Jo 

If No, describe 

‘Are there any adverse site condiions 

or exlcenal faclors (easements, encroachments, environmental condlions, land uses, etc)? 

(J Yes 

Addendum 

No 

If Yes, describe. See Attached 

GENERAL DESCRIPTION 

FOUNDATION 

EXTERIORDESCRIPTION _ materialsicondion | INTERIOR 

condition 

One 

(Jone vith Accessory Unit 

XJ Concrete Slab 

Craw Space 

Foundation Walls 

Concrete/Avg 

Floors 

Crp-Lam/Avg 

1 

Full Basement 

Parlial Basement | Exterior Walls 

Aluminum/Avg 

Walls 

Drywall/Avg 

pet 

(Jan 

[Js-Det/End unit] Basement Arca 1389 

sq 1. | Roof Surface 

Metal/Avg 

TrimiFinish __ Wood/Avg 

(Jrroposed 

[Junder Const | Basement Finish 

0% | Gutters & Downspouts Aluminum/Avg 

BathFloor 

__Laminate/Avg 

Design (Style) Ranch 

[Joutside Entry/Exit__ 

(J Sump Pump 

| Window Type 

Vinyl/Avg 

Bath Walnscol_Fiberglass/Avg 

Year Built 1963 

Evidence of (J infestation 

Storm Sash/insulated_Yes/Avg 

Car 

Storage [J tone 

Effective 

Age (Yrs) 40 

[Joampness 

Sefflement 

Screens 

Yes/Avg 

Driveway 

#of Cars 

2 

Allic 

None 

Healing 

C Jrwes [J Radiant | Amenities 

WoodStove(s) #0 | Driveway Surface Paved 

Drop Stair 

Stairs 

Jotmer 

True Gas 

XJ Fireplace(s) # 1 

Fence None 

XJGarage 

 #ofCars 

2 

Floor 

XJ Scull 

Cooling (XJ Central Air Conditioning 

X]patioeck W/C_(XJPorch Wood 

Carport 

of Cars 

0 

Finished 

Healed 

Individual 

[other 

Pool None 

Oter None 

XJ au 

(Joel. 

[Jsuittin 

Appliances [J Refigeralor 

ange/Oven 

|X] Dishwasher 

Disposal 

JMicrowave | JWasher/Dryer _[_) Other (describe) 

Finished area above grade contains 

5 Rooms 

3 Bedrooms 

1.0 Balh(s) 

1,390 Square Feel of Gross Living Area Above Grade 

Additional features (special energy efficient items, etc). 

None Noted

255220620 

Uniform Residential Appraisal Report 

Fie Ho. 25-0100 

Theteare 

3 

comparable properties currently offered for sale in he subject nelghbothood ranging in price fiom 

239,900 

los 290,000 

Theteare 

9 

comparable sales inthe subject neighborhood within the past twetve months ranging 

io sate price roms 

200,000 

tos 300,000 

FEATURE. 

I 

SUBJECT 

COMPARABLE SALE RO. 1 

COMPARABLE SALE HO. 2 

COMPARABLE SALE NO. 3 

73 S Lake George Rd 

4814 Attica Rd 

4509 Attica Rd 

1950 S Lake George Rd 

Address Attica, 

Mi 48412 

Attica, MI 48412 

Attica, Mi 48412 

Attica, M1 48412 

= 

[1.55 miles NE 

8 

miles NE 

Sale Price. 

3 

310,000 

SaePricsigss 

liv Area 

[$223.02 sg. 

. 

_|s 243065 

Dala Source(s) 

RICIp#2024005562 :DOM 10 

RICMpi#20240067565,D0M 22 

Verification Source(s) 

| Assessor/Ext Inspection 

Assessor/Ext Inspection 

Assessor/Ext inspection 

VALUE ADJUSTMENTS 

DESCRIPTION 

DESCRIPTION 

S$ Aurea 

DESCRIPTION 

«095 teint 

DESCRIPTION 

108 strat 

Sle of Financing 

[ArmLth 

ArmLth 

ArmlLth 

Concessions 

Conv;0 

Conv;0 

Conv;0 

Date of Sale/Time. 

. 

S00 

1509/24,c08/24 

510/24,c10/24 

508/24,c08/24 

Location 

N;Res; 

N;Res; 

N;Res; 

N;Res: 

Leaseholdifee Simple 

Fee Simple 

Fee Simple 

Fee Simple 

Fee Simple 

Site 

5.43 ac 

1.04 ac 

+12,000/ 

1.28 ac 

+12,000]1.80 ac 

+10,500 

View 

N;Res; 

N;Res; 

NiRes; 

N;Res; 

Design {Style} 

DT1;Ranch 

DT1i;Ranch 

DT1;Ranch 

DT2;Colonial 

[4] 

Quality of Construction 

[Q4 

Q4 

Q4 

Q4 

Actual Age 

62 

39 

057 

0}105 

[4 

Condition 

[of] 

c3 

-27,500 

[C4 

[of] 

Above Grade 

Todt 

forms] 

Baty 

Ferd 

[Bes] 

Bas 

Tost 

[asm] 

Bats 

To 

iByms| 

Bats 

Room Count 

513 

1.0 

5(3 

1.0 

513 

1.0 

613 

1.0 

0 

Gross tivmAea30 

1,380 sq.ft 

1,526 sq. 

-4,080 

1,008 sat 

11.460 

1,604 sq.f. 

-6,420 

Basemenl & Finished 

1388sf0sfin 

15265f1400sfin 

0 

1008sf932sfin 

0]932sf0sfin 

0 

Rooms Below Grade 

1e¢0br0. 1balo 

-5,000[ 

1rrObr1.0bato 

-7,500 

3 Funclional Utity 

3-Bedroom 

3-Bedroom 

3-Bedroom 

3-Bedroom 

8] Heating/Cooling 

FWA/Central 

HWBB/None 

+2,500 | FWA/Central 

FWA/Central 

$9 Energy Efficient lems 

{ None 

None 

None 

None 

I GaragelCarport 

2gaZdw 

2ga2dw 

2gd2dw 

0 | 2gd2dw 

[1] 

PX PorcivPatioDeck 

Por/Deck/Patio 

| Por/Deck/Patio 

Porch 

+2,000 | Porch/Deck 

+1,000 

7) Fireplace 

1-Fireplace 

None 

+1,000 | None 

+1,000 | None 

+1,000 

1-Pole Barn 

None 

+9,000| 

1-Pole Barn 

None 

+9,000 

0. 

f} 

12,080] 

Od. 

[J 

Ts 

18.960] 

(XI, 

(J. 

Ts 

15,080 

Nethd) 

4.4% 

tethg 

7.7% 

NetAd. 

6.0% 

. 

Gioss Adi 22.2% 

3 

262,920 | Gossad 13.9% 

263.960 | Gross Ag. 11.2% 

[8 

265,080 

id 

Joramot search ho safe or anstr hislory 

of the subject property and comparatle sales. 

If nol, explain 

Myresearch (_Jdig(X)did nol reveal any pilot sales or Uansfers of the subject gtoperty for the Three years prof to the effective date of ns appraisal 

Data source(s) 

Public Record, Realcomp MLS, Paragon MLS 

ttyresearch (_Jais 

{X)did not reveal any prior sales or transfers of he comparatie sales for he year prior 

lo the date of sale of the comparatie sale. 

Data source(s) 

Public Record, Realcomp MLS, Paragon MLS 

Report the results of the research and analysts of Whe prior sale of Iransfer history of she subject property and compatatie sales {report additional price sales on page 3) 

HER 

SUBJECT 

COMPARABLE SALE NO, 

| 

COMPARABLE SALE NO.2 

COMPARABLE SALE NO. 3 

Date of Prior Sate/Transler 

Price of Prior SalefTcansfer 

Dala Source(s} 

Public Records 

Public Records 

Public Records 

Public Records 

Elleclive Date 

of Data Source(s) 

| 06/24/2025 

06/24/2025 

06/24/2025 

06/24/2025 

Analysls of prior sale or transfor history of she subject property and comparable ssles 

No prior transfers of the subject or comparable sales were noted. 

Summary of Sates Comparison Approach. 

See Attached Addendum

. 

A 

A 

255220620 

Uniform Residential Appraisal Report 

Fico. 25-0100 

The appraiser is knowledgeable of the geographic locale, has access to the local MLS for where the property is located and has 

appraised other properties in the overall location. 

‘At the fime of inspection, there was no evidence that the subject has been impacted by any recent FEMA national disasters. 

Exposure Time: estimated length of time that the property interest being appraised would have been offered on the market prior to the 

hypothetical consummation of a sale at market value on the effective date of the appraisal. 

Provide adequate information for the fendes/client to replicate the below cost figures and calculations. 

Support for the opinion of site valu (summary of comparatfe (and sales or other methods fot estimating site value) 

Land values were researched through the focal MLS 

and/or assessor. 

FJ ESTIAATED 

 ( JREPRODUCTIONOR _ (XJREPLACEMENT COST NEV 

OPINION 

OF SITE VALUE... 

en 

70,000 

$5] Source of cost data M & 8 Handbook 

Dreefling 

1390 se Fre@s 

180.00. 

250,200 

1 Quality rating from cost service Avg 

Effective date 

of cost data 2026 

Bsmt: 1389 

sg.f@s 

50.00 

69,450 

$24 Comments on Cost Approach (gross ving area calculations, depreciation, el) 

2 Due fo the age of the subject, 

the cost approach was not 

GaragelCarpart 

588 sq.ft@s 

20.00. 

N 

= 

11,760 

a] considered to be reliable. Extensive physical depreciation results 

| Total Estimate of Cost-New 

$ 

331.410 

in a less than credible value. 

Less 

100 

Physical | Functional | 

External 

Depreciation 

$132,564] 

=3( 

132,564) 

Deseciated Cost of Improvements 

. 

198.846 

Asis” Value of Site improvements . 

=3 

10,000 

278,800 

INDICATED VALUE BY COST APPROACH 

VAL 

trequired by Fanniehsag) 

Estmated Monthly Markel Ren § 

0X Gross Rent Multipter 

[OE 

OIndizated Value by income Approach 

Summary 

of Income Approach (including supper for markel rent and GR) NIA 

: 

= 

__ 

PROJECTINFORMATIONFORPUDS (Fapplicable).

. 

. 

A 

256220620 

Uniform Residential Appraisal Report 

Fie No. 25-0100 

This report form is designed to report an appraisal of a ane-unit property or a one-unit property with an accessory unit; including a 

unit in a planned unit development (PUD). This report form is not designed to report an appraisal of a manufactured home or a unit 

in a condominium or cooperative project. 

This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value, statement of 

assumptions and limiting conditions, and certifications. Modifications, additions, or deletions lo the intended use, intended user, 

definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work 

{0 include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or 

deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations 

{o this appraisal report, such as those required by law or those related to the appraiser's continuing education or membership in an 

appraisal organization, are permitted. 

SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the 

reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions 

and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the 

interior and exterior areas of the subject property, {2} inspect the neighborhood, (3) inspect each of the comparable sales from at 

least the street, (4) research, verify, and analyze data from reliable public and/or private sources, and (5) report his or her analysis, 

opinions, and conclusions in this appraisal report. 

{INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of 

this appraisal for a morigage finance transaction. 

INTENDED USER: The intended user of this appraisal report is the [ender/client. 

DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market 

under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is 

not affected by undue stimulus. 

implicit in this definition is the consummation of a sale as of a specified date and the passing of 

title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed 

or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for 

exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements 

comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative 

financing or sales concessions* granted by anyone associated with the sale. 

*Adjustments {fo the comparables must be made for special or creative financing or safes concessions. 

No adjustments are 

necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily 

identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be 

made to the comparable property by comparisons to financing terms offered by a third parly institutionat lender that is not already 

involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the 

financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or 

concessions based on the appraiser's judgment. 

STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the 

following assumptions and limiting conditions: 

1. 

The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the titte 

to it, except for information that he or she became aware of during the research involved in performing this appraisal. The 

appraiser assumes that the litle is good and marketable and will not render any opinions about the title. 

2. 

The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements. The 

sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determination of its size. 

3. 

The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency {or 

other data sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified Special 

Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this 

determination. 

4. 

The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, 

unless specific arrangements fo do so have been made beforehand, or as otherwise required by law. 

5, 

The appraiser has noted in this appraisat report any adverse conditions {such as needed repairs, deterioration, the presence of 

hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of 

during the research involved in performing this appraisal. Unless otherwise stated in this appraisal report, the appraiser has no 

knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not fimited to, 

needed repalrs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that 

would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or 

warranties, express or implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering or 

testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of 

environmental hazards, this appraisal report must not be considered as an environmental assessment of the property.

. 

255220620 

Uniform Residential Appraisal Report 

filetto. 25-0100 

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 in this 

appraisal report. 

2. 

| performed a complete visual inspection of the interior and exterior areas of the subject property. 

| reported the condition of 

the improvements in factual, specific terms. 

| identified and reported the physical deficiencies that could affect the livability, 

soundness, or structural integrity of the property. 

3. 

1 performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice 

that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the 

time this appraisal report was prepared. 

4. 

developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison 

approach to value. 

| have adequate comparable market data to develop a reliable sales comparison approach for this appraisal 

assignment. 

| further certify that 

| considered the cost and income approaches to value but did not develop them, unless otherwise 

indicated in this report. 

5. 

researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sate 

of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject property 

for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report. 

8. 

| researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the 

date of sale of the comparable sale, unless otherwise indicated in this report. 

7. 

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

8. 

| have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home 

that has been built or wilt be built on the land. 

9. 

| have reported adjustments lo the comparable sales that reflect the market's reaction to the differences between the subject 

property and the comparable sales. 

10. 

| verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest in 

the sale or financing of the subject property. 

11. 

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

12. 

| am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listing 

services, tax assessment records, public land records and other such data sources for the area in which the property is located. 

13. 

1 obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from 

reliable sources that | believe to be true and correct. 

14. 

1 have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject 

property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. 

| have 

noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of 

hazardous wastes, toxic substances, adverse environmental conditions, efc.) observed during the inspection of the subject property 

or that 

| became aware of during the research involved in performing this appraisal. 

1 have considered these adverse conditions in 

my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject 

property. 

15. 

I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledgs, all 

statements and information in this appraisal report are true and correct. 

16. 

| stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are 

subject only to the assumptions and limiting conditions in this appraisal report. 

17. 

1 have no present or prospective interest in the property that is the subject of this report, and 

| have no present or prospective 

personal interest or bias with respect to the participants in the transaction. 

| did not base, either partially or completely, my 

analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, marital status, handicap, 

familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or 

occupants of the properties in the vicinity of the subject property ar on any other basis prohibited by law. 

18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned 

an any agreement or understanding, written or otherwise, that 

| would report (or present analysis supporting) a predetermined 

specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the 

attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending morigage loan 

application).

. 

A 

. 

255220620 

Uniform Residential Appraisal Report 

File Ho. 25-0100 

22. 1am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain laws 

and regulations. 

Further, 

| am also subject o the provisions of the Uniform Standards of Professional Appraisal Practice that 

pertain to disclosure or distribution by me. 

23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, morigage insurers, 

govemment sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any 

mortgage finance transaction that involves any one or more of thess parties. 

24. 

If this appraisal report was transmitted as an “electronic record” containing my “electronic signature,” as those terms are 

defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal 

report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a 

paper version of this appraisal report were delivered containing my original hand written sigrature. 

26. Any intentional or negligent misrepresentation{s) contained in this appraisal report may result in civil liability and/or criminal 

penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 

1001, et seq., or similar state taws. 

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

1. 

{directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's 

analysis, opinions, statements, conclusions, and the appraiser's certification. 

2. 

accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, 

opinions, statements, conclusions, and the appraiser's certification. 

3. 

The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser (or the 

appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state faw. 

4. 

This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and 

promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal 

report was prepared. 

5. 

If this appraisal report was transmitted as an “electronic record” containing my “electronic signature,” as those terms are 

defined in applicable federal and/or state laws {excluding audio and video recordings), or a facsimile transmission of this appraisat 

report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if 

a 

paper version of this appraisal report were delivered containing my original hand written signature. 

APPRAISER 

SUPERVISORY APPRAISER (ONLY IF REQUIRED) 

Signature 

Watt 

sas 7 a lecks 

Signature 

Name Matthew Talacko 

Name 

Company Name Shoreview Appraisal Services 

Company Name 

Cempany Address 21609 Martin Rd 

Company Address 

Saint Clair Shores, Mi 48081 

Telephone Number (586) 879-4502 

Telephone Number 

Email Address shoreviewappraisals@yaheo.com 

Email Address 

Date of Signature and Report 06/27/2025 

Date of Signature 

Effective Date of Appraisal 06/24/2025 

State Ceriification # 

State Certificaty 

or Slate License # 

or State Ler 

State 

or Other (desc 

Slate # 

Expiration Date of Certification or License 

State MI

255220620 

Uniform Residential Appraisal Report 

Fic to. 25-0100 

FEATURE 

I 

SUBJECT 

COMPARABLE SALE NO. 4 

COMPARABLE SALE NO. § 

COMPARABLE SALE HO. 6 

73 S Lake George Rd 

2234 Bowers Rd 

2614 Long Lake Rd 

1082 Morris Rd 

Address Attica, Mi 48412 

Lapeer, Mi 48446 

Lapeer, MI 48446 

Lapeer. MI 48446 

Proximity lo Subject 

14.14 miles 

NW 

0 mil 

W 

Sele Price 

s 

310,000} 

1s 

231000f 

$ 

SdaPricelGrossiiv. 

Area 

[$ 

is 

211.54 sq.nf 

3235001 

209.8% 

Data Source(s) 

RICmp#20240063189;D0M 11 | RICmp #20240057957;D0M 7_| 

RICmp #20250037048,D0M 

2 

Verification Source(s} 

Assessor/Ext Inspection 

Assessor/Ext Inspection 

Assessor/Ext Inspection 

VALUE ADJUSTHMENTS 

DESCRIPTION 

+3 Austen 

DESCRIPTION 

A[)S Euseet 

DESCRIPTION 

3 $ Adustrent 

Sale of Financing 

JArmLth 

ArmLth 

ArmLth 

Concessions 

Conv;0 

Cony;5000 

5,000 | Conv;@ 

Dale of SalefTime 

. 

. 

$10/24:c09/24 

509/24:¢08/24 

506/25,c05/25 

Location 

N;Res; 

N:Res; 

N;Res; 

NiRes; 

Leaschold'Fee Simple} 

Fee Simple 

Fee Simple 

Fee Simple 

Fee Simple 

Site 

5.43 ac 

3.71ac 

+4,500[1.43 ac 

+12,000]22816 sf 

+13,500 

View 

NiRes; 

NiRes; 

N;Res; 

NiRes: 

Design {Syle) 

DT1;Ranch 

DT1:Ranch 

DT1:Ranch 

DT1;Ranch 

Quality of Construction 

| Q4 

Q4 

Q4 

Q4 

Actual Age 

62 

55 

050 

0]70 

0 

Condition 

C4 

[9] 

C4 

C4 

Above Grade 

Took 

lgams| 

 8sms 

Toi 

|oams] 

Bots 

Tod 

[Baral 

Bars 

Tet 

[Brms| 

Bats 

Room Count 

513 

1.0 

513 

1.0 

513 

1.0 

613 

20 

-6,0600 

Gross Living Area 30 

1,380 sa. 

1,092 sq.ft 

8,940 

1,000 sq f. 

11,700 

1,072 sq.ft 

9,540 

Basement & Finished 

1389sf0sfin 

1092sf0sfin 

© 860sf0sfin 

(| 440s{0sfin 

+9,000 

Rooms Below Grade 

Functional Udity. 

3-Bedroom 

3-Bedroom 

3-Bedroom 

3-Bedroom 

Healing/Cooling 

FWA/Central 

FWA/Central 

FWA/Central 

FWA/Central 

Enesqy Efficient Items 

None 

None 

None 

None 

Gatage/Carpst 

2ga2dw 

2ga2dw 

2ga2dw 

1ga2dw 

+3,000 

Porch/Pati/Deck 

Por/DeckiPatio 

| Porch/Deck 

+1,000} Por/Deck/Patio 

Por/Deck/Patio 

Fireplace 

1-Fireplace 

None 

+1,000 

1-Fireplace 

None 

+1,000 

Qutbuildings 

1-Pole Barn 

None 

+8,000{ None 

+9,000 | None 

+9,000 

Nel Adjustment (Total 

Kd. 

[J 

Ts 

24440] 

0. 

(J- 

Is 

27700] 

OJ. 

[J 

Ts 

39,040 

i$ Adjusted Sale Prize 

| Netag, 

10.6% 

Neth 

11.8% 

Netadj. 

17.4% 

4% 

of Comparaties 

Goss Ad. 10.8%f$ 

255,440 | Grossag. 

16.0% 

18 

262,700 | Gross Atk, 22.7% 

18 

264,040 

ITEM 

SUBJECT 

COMPARABLE SALE NO. 4 

COMPARABLE SALE NG. § 

COMPARABLE SALE HO. 6 

ro} 

Date of Prior Sale/Transfer 

Prize of Prior SafefTranster 

PE 

Data Source(s) 

Public Records 

Public Records 

Public Records 

Public Records 

Fo} 

Effective Dale of Dala Source(s) 

| 06/24/2025 

06/24/2025 

06/24/2025 

06/24/2025 

Summary of Sales Comparison Approach

Uniform Residential Appraisal Report 

255220620 

File No. 25-0100 

FEATURE 

I 

SUBJECT 

COMPARABLE SALE NO. 7 

COMPARABLE SALE NO. 8 

COMPARABLE SALE NO.9 

73 S Lake George Rd 

4677 Imlay City Rd 

Address Attica, 

Ml 48412 

Attica, Mf 48412 

Proximity to Subject 

7 miles NE 

Sale Price. 

HS 

310,000 

SdaPricefGioss 

Liv Area 

[§ 

223.02 sql 

|s 

233.61 sql 

sg. 

sq.ft 

Data Source(s) 

RICmp #58050119829,D0M 147 

Verification Scurce(s) 

Assessor/Ext Inspection 

VALUE ADJUSTHENTS 

DESCRIPTION 

DESCRIPTION 

3 Aste 

DESCRIPTION 

08 het 

DESCRIPTION 

10) Austr 

Sale or Financing 

Concessions 

Dale of SalefTime. 

= 

Location 

N;Res; 

Leasehald/Fee Simple 

| Fee Simple 

Fee Simple 

Site 

5.43 ac 

10.80 ac 

-15,000 

View 

NiRes; 

NRes; 

Design (Style) 

DT1;Ranch 

OT2;Farmhouse 

0 

Quality of Consiruction 

| Q4 

Q4 

Aclual Age 

62 

82 

0 

Condtion 

C4 

C4 

Above Grade 

Tet 

[ems] 

Bom 

Tet 

[Bams| 

Bats 

Tent 

|Bgrs| 

Bors 

Tetd 

[gyms] 

Bas 

Room Count 

53 

1.0 

5[3 

1.0 

Gross Living Area 30 

1.390 so 

it 

1,220 sq.ft 

5,100 

sq 

sqft 

Basement & Finished 

1389sf0sfin 

730sf0sfin 

+6,000 

Rooms Below Grade 

Functional Utlily 

3-Bedroom 

3-Bedroom 

Healing/Coong 

FWA/Central 

FWA/Central 

Enetqy Efficient liems 

None 

None 

GaragefCatport 

2ga2dw. 

2ga2dw 

PorchiPatioDeck 

Por/Deck/Patio 

| Porch 

+2,000 

Fireplace 

1-Fireplace 

None 

+1,000 

Outbuildings 

1-Pole Barn 

3-Outbuitdings 

-18,000 

Net Adjustment 

(Tol 

= 

amen 

5 

18900 

(1 

(3- 

[s 

O. 

J 

Is 

BY Adusted Sale Price 

NelAdj. 

 -6.6% 

Rel Ag) 

% 

Net Ad 

% 

b4 

of Comparables 

Gloss Adi 

18.5%) 

$ 

266,100 } Gross Af. 

%|s 

Gigss Ady 

%{3 

E 

HEN 

SUBJECT 

COMPARABLE SALE HO. 7 

COMPARABLE SALE NO. 8 

COMPARABLE SALE NO. 9 

Date of Prior SalefTransfer 

Price of Prior Salke/Transfer 

Data Source(s) 

Public Records 

Public Records 

Effective Dale of Data Source(s) 

06/24/2025 

06/24/2025 

Summary of Sales Comparison Apgtoach

. 

. 

_. 

255220620 

Uniform Appraisal Dataset Definitions 

Fito. 265-0100 

Condition Ratings and Definitions 

C1 

The improvements have been very recently constructed and have not previously been occupied. The entire slruclure and ail components are new and the dwelling features no 

physical depreciation.” 

“Note: Newly constructed improvements that feature recycled materials and/or components can be considered nev deliings provided tha the dwelling Is placed on a 100% new 

foundation and the recycled materials and the recycled components have been sehabiltatedire-manufactured into fie-neiw condition. Recently constiucted improvements ihat have 

not been previously occupied are not considered “new” if they have any significant physical depreciation (1.e.. newly constructed dveliings that have been vacant for an extended 

period of time without adequate maintenance of upkeep). 

C©2 

The improvements fealure no deferred maintenance, little of no physical depreciafion, and require ao repairs. Virlually ali bulding components are new of have been recenlly 

repaired, refinished, of rehabiilaled. Al outdated componenls and finishes have been updaled and/or replaced with components that meet current slandards. Duwellings in this calegory 

either are almost new of have been recently completely renovaled and are similar in condition to new construction. 

“Note: The improvements represent a relalively new property hat is well maintained with no deferred maintenance and tlle or no physical depreciation, or an older properly thal has 

boen recently completely renovated. 

C3 

The improvements are well maintained and fealure Kimited physical depreciation due to normal wear and tear. Some components, but not every major budding component, may 

be updaled or recently rehabiilated. The structure has been viell mainlained. 

“Note: The improvement is in ifs fisst-cycle of replacing short-ived building components (appliances, floor coverings, HVAC, eic.) and is being weil maintained. lis estimated effective age 

Is fess than its actual age. 

If also may reflect a properly In which the majority of short-fved building components have been replaced but nol lo the level of a complete renovation. 

C4 

The improvemenls feature some minor deferred maintenance and physica deterioralion due to normal wear and tear. The dwelling has been adequalely malnlained and requres 

only minimal repalrs lo bulding componentsimechanical systems and cosmetic repalrs. All major building components have been adequately maintained and are funclionally adequate. 

“Note: The estimated effective age may be close to or equal fo ifs actual age. 1 seflects a properly in which some of the short-lived building components have been replaced, and some 

short-lived building components are at or near the end of their physical ie expectancy: however, they sti function adequately. tos! minor repairs have been addressed an an ongoing 

basis resulting in an adequalely maintained property. 

C5 

The improvements fealure obvious deferred maintenance and are in need of some significant repairs. Some building components need repairs, rehablilalion, or updating. The 

functional utility and overall livability is somewhat diminished due to condition, bist ihe dwelling remains useable and functional as a reskience. 

“Note: Some significant repairs are needed lo the Improvements due to the lack of adequate maintenance. 

Hi reflects a properly in which many of ifs short-iived building components are 

al the end of of have exceeded their physical life expectancy bul remain functional. 

C6 

The improvements have substanhial damage of deferred maintenance with deficiencies or defects Ihal are severe enough fo affect Ihe safety, soundness, of structural integrity 

of the improvements. The improvements are in need of substantial repalcs and rehabitation, Including many or mast major components. 

“Note: Substantial repaics are needed lo the improvements due fo the lack of adequale maintenance or properly damage. 

It reflects 3 property vith conditions severe enough lo affect 

the safety, soundness, or structural integrity of the improvements. 

Quality Ratings and Definitions 

Qt 

Duwellings wilh Ws quality rating are usually unique slruclures that are individually designed by an archilect for a specified user. Such residences typically are conslrucled from 

detailed architectural ptans and specifications and fealure an exceplionally high evel of workmanship and exceptionally high-grade materials throughout the interior and exterior of the 

structure. The design features exceptionally high-quality extetlor refinements and ornamentation, and exceptionally high-quality interior refinements. The workmanship, materials, and 

finishes throughout the dueling are of exceptionally high quatdy. 

Q2 

 Duellings with this quality rating are often custom designed for conslruction on an individual properly owner's site. However, dwellings in Ihis quality grade are also found in 

high-qualily rac! developments fealuting residences constructed from individual plans of from highly modified or upgraded plans. The design fealures detalled, high-quality exterior 

ornamentation, high-quality interior refinements, and detail. The workmanship, materials, and finishes throughout the dwelling are genesally of high or very high quality. 

Q3 

Dwellings with this quality raling are residences of higher quality buili from Individual or readily available designer plans in above-standard residential tract developments or on 

an individual property owner's site. The design Includes significant exterior ornamentation and interiors that are well finished. The workmanship exceeds acceptable slandards and 

many materials and finishes throughout the dwelling have been upgraded from “stock” standards. 

Q4 

 Duwelfings with this quality rating meet or exceed the requirements of applicable butding codes. Standard of modified standard buiding plans are utilized and the design includes 

adequate feneslralion and some exterior oramentation and interior refinements. Malerials, workmanship, finish, and equipment are of slock or builder grade and may feature some: 

upgrades. 

Q5 

Dwellings vilh Ihis quality sating fealure economy of construction and basic functionality as main considerations. Such dwellings fealure a plain design using readdy available of 

basic Moor plans featuring minimal feneslration and basic finishes with minimal exterior omamentalion and limiled interior detail. These devellings meet minimum butding codes and are 

conslructed valk inexpensive, stock materials vith limited refinements and upgrades. 

Q6 

Dwellings wilh this quality raling are of basic qualily and lower cos; some may nat be suilable for year-round occupancy. Such dwellings are often built with simple plans or 

withoul plans, often utilizing the lowest quality building materials. Such dwellings are often bull or expanded by persons viho are professionally unskilled or possess only minimal 

conslruction skills. Efeclrical, plumbing, and other mechanical systems and equipment may be minimal or non-existent. Older dwellings may feature ane or more substandard or 

non-conforming additions to the original sleveture. 

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. 

Resldential properties of fifteen years of age of less often reflect an original condilion with no updating, if no majos components have been replaced or updated. Those over fifteen 

years of age are also considered nol updated if the appilances, fixlures, and finishes are predominantly dated. An area thal is "Not Updated” may still be well maintained and fully 

funclionai, and this rating does not necessarily imply defeired maintenance or physical Aunclionat deterioration.

Uniform Appraisal Dataset Definitions 

255220620 

Filo No. 25-0100 

Abbreviations Used in Data Standardization Text 

Abbrev. 

Full Name 

Appropriate Fields 

Abbrev. 

FultName 

Appropriate Fields 

ac 

Ades 

Area, Sile 

In 

Interior Only Stairs 

Basement & Finished Rooms Below Grade 

AdjPik 

Adjacent to Park 

Location 

Loft 

Landi 

Location 

AdjPur 

Adjacent to Power Lines 

Location 

LidSght 

Limited Sight 

View 

A 

Adverse 

Localion & View 

Listing 

Listing 

Sale or Financing Concessions 

Asmitih 

Arms Length Sale 

Sale or Financing Concessions 

MR 

id-Rise Struclure 

Design(Styie) 

AT 

Altached Structure 

Design(Styie) 

Mn 

Fountain View 

View 

ba 

Bathroom(s) 

Basemen! & Finished Rooms Below Grade | N 

Neutral 

Location & View 

br 

Bedroom 

Basement & Finished Rooms Below Grade | NonArm 

Hon-Arms Length Sale 

Sale or Financing Concessions 

B 

Beneficial 

Location & View 

op 

Gpen 

Garage/Carpor 

BsyRd 

Busy Road 

Location 

0 

Other 

Basement & Finished Rooms Below Grade 

[5d 

Carport 

Garage/Carpoit 

[4 

Other 

Design{Style} 

Cash 

Cash 

Sale of Financing Concessions 

Pik 

Park View 

View 

ClySky 

City View Skye Views 

View 

ositl 

Pastoral View 

View 

ClySir 

City Slreel View 

View 

Puta 

Power Lines 

View 

Comm 

Commercial Influence 

Localion 

PubTin 

Pubic Transportation 

Location 

c 

Contracted Date 

Dale of Sale/Time 

m 

Recreationat {Rec} Room 

Basement & Finished Rooms Below Grade 

Conv 

Convenlional 

Sale or Financing Concessions 

Relo 

Relocalion Sale 

Sale or Financing Concessions. 

ow 

Covered 

GaragefCarporl 

REO 

REO Sale 

Sale or Financing Concessions. 

CetOrd 

Court Ordered Sale 

Sale or Financing Concessions 

Res 

Residential 

Localion & View 

DOM 

Days On Market 

Data Sources 

RT 

Row or Townhouse 

Design(Siyle) 

bt 

Detached Struclure 

Design{Style) 

RH 

Rural Housing - USDA 

Sale of Financing Concesslons. 

[2 

Drivesiay 

Garage/Carpoi 

SD 

Semi-detached Structire 

Design(Style) 

Estate 

Estate Sale 

Sale or Financing Concessions. 

s 

Seltlement Dale 

Dale of SalefTime 

e 

Expiration Date 

Date of Sale/Time 

Short 

Shart Sale 

Sale or Financing Concesslons. 

FHA 

Federal Housing Aulharity 

Sale or Financing Concesstons. 

of 

Square Feet 

Area, Site, Basement 

q 

Garage 

Garage/Carpotl 

sqm 

Square Meters 

Area, Site, Basement 

ga 

Garage - Allached 

GarageiCarporl 

Unk 

Unknown 

Dale of SalefTime 

gbi 

Garage - Bull-in 

Garage/Carporl 

VA 

Veterans Administration 

Sale or Financing Concessions. 

gd 

Garage - Delached 

GaragefCarpofl 

wo 

Walk Cul Basement 

Basement & Finished Rooms Below Grade 

GR 

Garden Structure 

Design(Style) 

wu 

Walk Up Basement 

Basement & Finished Rooms Below Grade 

GliCse 

Golf Course 

Location 

Wut 

Water Frontage 

Location 

Glhwy 

Golf Course View 

View 

Wir 

Waler View 

View 

HR 

High Rise Structure 

Design(Style) 

w 

Withdravn Dale 

Date of SalefTime 

ind 

Indusbial 

Location & View 

Woods 

Woods View 

View 

Other Appraiser-Defined Abbreviations 

Abbrev. 

Full Name 

Appropriate Fields 

Abbrev. 

 FullName 

Appropriate Flelds

ADDENDUM 

Borrower: Richard Cronk 

File No.: 25-0100 

Property Address: 73 S Lake George Rd 

Case No.: 255220620 

City: Attica 

State: 

Mi 

Zip: 48412 

Lender. Guaranteed Rate 

Legal Description 

PART OF NW 1/4 OF NW 1/4 OF SEC 16 T7N-R11E COM FROM NW 1/4 OF SEC 16 TH § 579.48 FT TO BEG TH CONT 

$201.32 FT TH E 634.65 FT TH N 201.32 FT TH W 6334.65 FT TO POB 2.93 A PAR C-1 SPLT 96 

And 

PART OF NW 1/4 OF NW 1/4 OF SEC 16 T/N-R11E COM FROM NW COR OF SEC 16 TH § 780.80 FT TO BEG TH 

CONT S 171.75 FT TH E 634.65 FT TH N 171/75 FT TH W 634.65 FT TO POB 2.50 A PAR C-2 

Twelve Month Listing History of Subject Property 

Continued from Twelve Month Listing History of Subject Property: sale for $310,000 as of the last signed contract date of 

06/13/2025. 

Neighborhood Description 

The subject property is located within an established area of Attica Township. This neighborhood consists predominately of 

single-family (one-unit) homes, along with some commercial properties generally located along the exterior thoroughfares as 

well as vacant land throughout the area. 

Single-family housing stock within this neighborhood consists predominately of ranch, colonial, and contmporary style 

homes with some split-level designs interspersed. Age typically ranges from new construction to 150 years of age, with the 

typical gross living area ranging from 1,000 to 3,000 square feet, and a quality of construction that spans the range of non to 

full masonry construction. Basement and slab/crawl foundations are typical, with a 3-bedroom utility being the most 

common. 

1-69, a major traffic artery, is within approximately two miles and offers access fo shopping, schools, places of worship, 

employment centers, freeways, and recreational areas. Commute times to Detroit's central business and entertainment 

districts is approximately 60-75 minutes. Improvements conform to the surrounding homes. 

The subject is served by the Lapeer School District. 

There are no positive or negative influences within the subject's neighborhood which affect marketability of the subject 

property. 

Neighborhood Market Conditions 

Research of MLS sales records indicated that property values have stabilized, following a period of increase. Estimates of 

market times were also based on MLS records. Financing was found to be readily available at competitive rates, and sales 

financing concessions were not found to be prevalent. Bank owned sales, foreclosures and short sales were found in the 

subject property’s market area, but do not currently impact value. 

Please see the 1004 MC for support of the one-unit housing trends. 

Zoning Compliance 

A description of zoning has been included in this report, however should not be relied upon. 

| recommend any information to 

be verified through the local zoning municipality, including such things as: set back requirements, minimum and maximum 

sizes for allowable uses, allowable existing uses, etc., directly with the local zoning municipality prior to making any decision 

that may be impacted by zoning regulations. 

Highest and Best Use 

Defined as: 

The most probable use of a property, which is physically possible, appropriately justified, legally permissible, financially 

feasible, and which resuits in the highest value of the property being valued. 

Source: Dictionary of Real Estate Appraisal 

Based on the current zoning of the subject, the physical characteristics and the financiat feasibility of the subject, the most 

maximally productive use of the site as vacant, is as a site used for a single-family, residential improvement. 

The subject's zoning allows for its current, single-family use. That the subject exists on the site is evidence that the current, 

single-family use is physically possible. The supply and demand in the market is for singte-family homes, with the typical 

buyer being an owner occupant. 

herefore, the use that allows for the highest value of the property, is as a single-family, 

owner occupant home, in its as is condition. 

Further, the existing improvements to the site, exceed the value of the site vacant; therefore the highest and best use of the 

site as improved is for continued single family residential use.

ADDENDUM 

Borrower: Richard Cronk 

File No.: 25-0100 

Property Address: 73 S Lake George Rd 

Case No.: 265220620 

City: Attica 

State: Ml 

Zip: 48412 

Lendsr. Guaranteed Rate 

overall similar marketability including location, age, style, GLA, and overail condition with most consideration given fo the two 

biggest driving factors of marketability in this area which are GLA and overall condition. 

Due to the lack of comparable sales within the subject's immediate market area, the appraiser was forced to expand 

comparable search parameters throughout similarly marketable areas surrounding the subject's immediate market area of 

Altica Township. Alt comparable sales are located within approximately 5.5 miles of the subject and no location adjustments 

were warranted. 

Due to the lack of comparable sales within the past 6 months, the appraiser was forced to expand comparable search 

parameters to include alt sales within this market area over the past 12 months. Based on the stable market over this period 

of time, no time adjustments were warranted. 

Site adjustments were made at a rate of approximately $3,000/acre and $1,500/half acre {rounded/estimated) for differences 

of one-half acre or more. 

Ali comparable sales are deemed equal in overall quality of construction (non-brick exterior}. 

All comparable sales are considered equal in overall condition with a lack of any recent kitchen, bathroom, or cosmetic 

updates with the exception of Comp 1 which was given a downward adjustment of 10% based on its superior interior 

condition/updates as evidenced by the interior photos provided within its MLS listing. 

GLA adjustments were made at a rate of $30/square foot for differences of 100 or more square feet. 

All comparable sales utlize a 3-bedroom utility. 

Bathroom adjustments were made at a rate of $6,000/fulf bath and $3,000/half bath. 

All comps are located on basement foundations. Comp 6 was given a basement area adjustment of approximately 

$10/square foot for its slightly inferior par basement foundation. 

All other amenity adjustments were made based on market extraction as well as the utilization of the online toca! builder's 

cost calculator found at Homewyse.com. 

Final Reconcliiation 

The sales comparison approach was given all weight in determining market value, as it most clearly represents typical 

market reactions and trends. Income approach was considered, however was rejected due to the predominance of owner 

occupancy and/or the lack of reliable market data. The cost approach was not considered to be reliable. 

Alt comparables utilized in the report were considered in determining the final opinion of value for the subject and given 

equal weight. 

The appraiser has inspected alt comparables from the street during the course of the assignment, however, MLS photos 

were utilized in the report to more accurately depict the condition of the property at the time of sale and/or the property not 

being visible from the street. 

*The appraiser acknowledges the difference between the opinion of value stated within the report ($256,000) and the 

contract price of the subject property (3310,000). All comps are deemed the most reliable indicators of fair market value for 

the subject property based on the biggers factors of marketability within this area which include location, site size, GLA, and 

overall condition. The appraiser has noted that the purchase price of the subject ($310,000) is $40,000 higher than the 

subject's MLS fisting price ($269,900). The subject's opinion of value Is in line with the predominant sales prices of homes 

within this market area similar in GLA and overall C4 condition. 

“Revision As Of 06/27/2025: The appraiser has included the second parcel noted on Page 1 of the appraisal report per the 

sales contract provided by the client. 

Conditions of Appraisal 

Appraisers are required to be licensed and are regulated by the Department of Licensing and Regulatory Affairs, PO Box 

30018, Lansing, Mt 48909. 

Market value was estimated in fee simple title, assuming no outstanding liens which could affect marketabifity. All sates were 

given similar consideration. This appraisal is prepared as an Appraisal Report under USPAP. 

The report contains digital signatures, The Appraisal Standard Board of the Foundation has addressed electronic signatures 

in Statement No. 8 dated January 1, 1999. The Board states * electronically affixing a signature to a report carries the same 

fevel of authority and responsibility as an ink signature on a paper copy report”.

ye 

ADDENDUM 

Borrower. Richard Cronk 

File No.. 25-0100 

Property Address: 73 § Lake George Rd 

Case No.: 255220620 

City: Attica 

State: 

MI 

Zip: 48412 

Lender: Guaranteed Rate 

testing of systems (structural, electrical, mechanical, heating, cooling, plumbing) and components (such as appliances, 

fixtures, doors, windows, ec.) lies outside of the scope of this appraisal assignment. The adequacy or suitability of any 

individual private sewer and water system is also beyond the scope of work. 

The appraisal is based on the information gathered from public records, other identified sources, a complete visual 

observation of the interior and exterior of the subject property, its neighborhood, and selection of comparable sales within 

the subject's market area. When conflicting information was provided, the source deemed most refiabie has been used. 

The research to consider the three approaches to value will be adequate to provide credible assignment results. Once the 

data is gathered, it will be analyzed and finally reconciled into a final opinion of value. Lastly, the information wilt be reported 

and communicated to the client. 

Note: Appraisal is a branch of applied economics. It differs from the applied sciences (engineering, surveying, mold or 

environmental testing, etc.), from the building trades (home inspection, pest and dry rot inspection, roof inspection, 

construction, etc.), and from the applied arts {architecture, home design, or drafting). 

Intended User: 

the sole intended user of this report is the client named in this report and its ultimate funding source. In accordance with the 

Appraisal Standard Board's interpretation of Certification #23, the appraiser does not intend the use of this appraisal by 

anyone other than the named client and its ultimate funding source. The party receiving a report copy from the client does 

not, as a consequence, become a party to the appraiser-client relationship. No other persons or entities whatsoever are 

clients or intended users. 

Intended Use: 

The intended use of this repart, is to assist the client in ils decision making process. Reading the appraisal report or 

possessing the report does not constitute use. Relying on the appraisal report to understand how the appraiser developed 

the opinion of value does not constitute use. Use means relying on the appraisal report to make a decision or to take an 

action. 

As of the date of this report, 

| have completed the continuing education program for Designated Members of the Appraisal 

Institute. The reported analyses, opinions, and conclusions were developed, and this report has been prepared, in 

conformity with the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Insfitute. 

The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized 

representatives. As of the date of this report, 

| have completed the Standards and Ethics Education Requirements for 

Designated Members of the Appraisal Institute. 

No employee, director, officer or agent of the lender, or any other third party acting as a joint venture partner, independent 

contractor, appraisal management company, or partner in behalf of the lender has influenced or attempted to influence the 

development, reporting, resuit or review of this assignment through coercion, extortion, collusion, compensation, instruction, 

inducement, intimidation, bribery, or in any other manner. 

[ have not been contacted by anyone other than the intended user 

, borrower or designated contact to make an appointment to enter the property. 

{ agree to immediately report any 

unauthorized contacts either personally by phone or electronically to vendor management. 

Expanded Scope of Work Statement: 

At the request of the client, this appraisal report has been prepared in compliance with the Uniform Appraisal Dataset {(UAD) 

from Fannie Mae and Freddie Mac. The UAD requires the appraiser to use standardized responses that include specific 

formats, definitions, abbreviations, and acronyms. The appraiser attempted to obtain an adequate amount of information in 

the normal course of business regarding the subject and comparable properties. Some of the standardized responses 

required by the UAD, especially those in which the appraiser has not had the opportunity to verify personally or measure, 

could mistakenly imply greater precision and reliability in the data than is factually correct or typical in the normal course of 

business. Examples include condition and quality ratings as well as comparable sales and listing data. The appraiser makes 

no representations, guarantees or warranties, express or implied, regarding building materials, their fitness, quality, condition 

ar remaining economic life. Not every element of the subject property was viewable. The appraiser did not move any 

personal property, due to [lability concerns for potential damage to the property, to disclose or reveal any unapparent or 

hidden defects to the structure, nor did the appraiser dismantle or probe the structure to observe enclosed, encased, or 

otherwise concealed areas. Comparable data was generally obtained from third-party sources including but not limited to the 

jocal MLS, County Assessor, Township Assessor, online resources and additional public data sources. Consequently, this 

information should be considered and “estimate” unless otherwise noted by the appraiser.

255220620 

Market Conditions Addendum to the Appraisal Report 

Fiero. 25-0100 

The purpose of tis addendurs is to provide the lender/client vith a clear and accurate understanding of the market trends and condilions prevatent In Ihe subject neighborhood. This is a required 

addendum for al appraisal reports vith an effective date on or alter fiprd 1, 2009. 

Property Address 73 S Lake George Rd 

City Attica 

State MY 

Zlp Code 48412 

Bonpwer Richard Cronk 

Instructions: The appealses mus! use the information required on this form as the basis for his/es conclusions, and must provide support for those conchusions, regarding housing bends and 

overall market conditions as reported In the Neighbothood section of the appraisat repori form. The appralser must fl in al ihe information lo the extent & is avadable and rellatle and must provide 

analysis as indicated below. If any required data is unavatable of Is consideted unteliable, the appraiser must pravide an explanation. it is recognized that not ail data sources vi be ate fo 

provide data for the shaded areas beta; f 

is available, however, Ihe appraiser must include The data in the analysis. If data sources provide Ihe required informalion as an average inslead of the 

median, the appraiser should report the avatable figure and identify it as an average. Sales and stings musl be propeties thal compete with In subject property, determined by applying the criteria 

ct property. The appraiser us| explaln any snomalies in the dala, such 

as seasonal markels, ne consiiuclion, foreclosures el. 

oo 

: 

Prior 7-12 Months | Prior 4-6 Months | Current - 3 Mogths 

Overalt Trend 

Tolal # of Comparable Sales (Setlied) 

4 

3 

2 

J increasing 

TC) Declining 

‘Ansorplion Rate (Tolal Salesfidonths) 

0.67 

1.00 

0.67 

Increasing 

Stable 

Decl 

Totel # of Comparatie Active Listings. 

3 

( 

Ktonths 

of Housing Supply (Tota! Listings/Ab Rate) 

- 

- 

4.48 

ef 

E 

Sale 

& List Price; 

DOM, 

Salellist 

Prior 7-12 Months | 

Prior 4-6 Months 

| Cumen - 3 Months 

Overal Trend 

Median Comparable Sale Price 

252,250 

262,220 

256,650 

|) locreasing 

| 

TT Dectining 

Wedian Comparatie Sales Days on Markel 

33 

19 

20 

Declining 

X] Statte 

Increasing 

Median Compatabie List Price 

EE 

: 

274,500 

i 

Sia 

Median Comparable Listings Days on Markel 

EE 

: 

: 

30 

clio 

4 Median Sale Price as % of Ust Price 

99.00% 

98.00% 

| 

98.00% 

Increasing 

J] 

Seller (developer, bulder, etc paid financial assistance prevalent? 

Yes 

{Jno 

Declining 

JX] 

Stable 

15) tncreasing 

Explain in detail he seller concessions ends for the past 12 months (e.g.. seller contributions increased from 3% to 5%, increasing use of buydosns, closing costs, condo fees, options, etc.}. 

pq 

Sellers concessions have remained relatively stable with typical concessions in the 1-3% range. 

‘Ave foreclosure sales (REO sales) a factor in the market? 

[_] Yes 

No 

Ityes, explain (including the trends in stings and sales of foreclosed ptopeies). 

Foreclosures and REO sales can be found in the market, but do nol impact the price of arms-length transactions. 

Cite dala sources for above Information. 

MLS, Public Records 

Summarize the above informalion as suppotl for your conclusions fn the telghborhood section of the appraisal sport form. 

If you used any additional information, stich as an analysis of 

pending sales andlor expired and withdrawn slings, to formudale your conclusions, provide both an explanation and support for your conclusions. 

The above information and supports the trends identified above and in the neighborhood section of the report. This information is also 

consistent with recent published trends from industry sources. 

tthe subject is a unit in a condominium or cooperative project , complete the following: 

N/A 

Project Name: 

Subject Project Data 

Prot 7-12 Months | Pilot 4-6 Months | Current - 3 Months 

Overal Trend 

Toll 

£ of Comparable Sales (Settled) 

(increasing 

J[ J Stable 

[J Declining 

‘Absorption Rate (Total Salesionins) 

increasing 

Stable 

Declinin 

Tolal # of Alive Comparable Listings 

| Declining 

Eas! 

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

Jl Ave foreclosure sales {REC salcs) 

a factor in the project? 

(J Yes 

. indicate the number of REO listings and explain the Irends in Bstings and sales of foreclosed properties. 

Summarize he above rends and address the impac| on the subject unl and project. 

N/A

DIMENSION LIST ADDENDUM 

Borrower: Richard Cronk 

File No.: 

25-0100 

Property Address: 73 S Lake George Rd 

Case No.: 265220620 

Cily: Attica 

State: MI 

Zip: 48412 

Lender: Guaranteed Rate 

GROSS BUILDING AREA (GBA) 

1,390 

GROSS LIVING AREA (GLA) 

1,380 

Area(s) 

Area 

% of GLA 

| % of GBA 

Living 

1.390 

100.00 

Level 1 

1,380 

100.00 | 100.00 

Level 2 

[1] 

0.00 

0.00 

Level 3 

[1] 

0.00 

0.00 

Other 

0 

0.00 

0.00 

GBA 

Basement 

[1] 

1.390 

Garage 

[| 

588 

Other 

OJ 

1,200 

Area Measurements 

Area Type 

Measurements 

Factor 

Total 

Level1 

Level? 

Level3 

Other 

| Bsmt. 

Garage 

24.00 

24.50 

1.00 

- 

588.00 

[0] 

0 

42.80 

26.50 

x 

100 

- _ 1.13420 

[mn] 

J 

a 

12.00 

21.30 

1.00 

- 

255.60 

42.8 

26.50 

1.00 

- 

1,134.20 

12.00 

21.30 

1.00 

255.60 

| 

11] 

nnn 

RRERRRRRRCRRRREE 

ANA) 

nn 

EHE ETAT 

x XM XX XX 

Xx 

x 

X 

x 

x 

x 

x 

kx 

x 

x 

x RR kX 

3x 

3 

x 

X 

3X 

3 

X 

x b> 

3 

x 

x XX 

x 

% 

xX 

C0C0000C0000C0000CO00C0C000CON0000000NEA 

NCC00000O00000000C00000000000000000000 

CC000000000000000CCooOoC0lurotOnnOnNnoono 

000000000000000COM0MNC00000000000000C0000 

0000CC0CC0noO00CC00Cob00C00Co00oOCORECH 

0000C000CO0000000000C00000000000000at00

SUBJECT PROPERTY PHOTO ADDENDUM 

Borrower: Richard Cronk 

File No. 

25-0100 

Property Address: 73 S Lake George Rd 

Case No.: 2565220620 

Cily: Attica 

State: MI 

Zip: 48412 

Lender: Guaranteed Rate 

FRONT VIEW OF 

SUBJECT PROPERTY 

Appraised Date: June 24, 2025 

Appraised Value: $ 265,000 

REAR VIEW OF 

SUBJECT PROPERTY 

STREET SCENE

Borrower: Richard Cronk 

File No.: 

25-0100 

Property Address: 73 S Lake George Rd 

Case No.: 2565220620 

City: Attica 

Slate: MI 

Zip: 48412 

Lender: Guaranteed Rate 

Living Room 

Kitchen 

Nook 

Bedroom

Borrovser: Richard Cronk 

File No: 

25-0100 

Property Address: 73 S Lake George Rd 

Case No.: 255220620 

City: Attica 

State: MI 

Zip: 48412 

Lender: Guaranteed Rate 

Bedroom 

Unfinished Basement 

Mechanicals 

Side View/Garage

Borrovier: Richard Cronk 

File No: 

25-0100 

Property Address: 73 S Lake George Rd 

Case No.: 255220620 

Cily: Attica 

State: MI 

Zip: 48412 

Lender: Guaranteed Rate 

View To Rear 

Alternate Street View

COMPARABLE PROPERTY PHOTO ADDENDUM 

Borrower: Richard Cronk 

File No.: 

25-0100 

Property Address: 

73 S Lake George Rd 

Case No.: 255220620 

Cily: Attica 

State: MI 

Zip: 48412 

Lender: Guaranteed Rate 

COMPARABLE SALE #1 

4814 Attica Rd 

Attica, MI 48412 

Sale Date: s09/24;c08/24 

Sale Price: $ 275,000 

COMPARABLE SALE #2 

4509 Attica Rd 

Attica, MI 48412 

Sale Date: s10/24;c10/24 

Sale Price: $ 245,000 

MEER Im 

i 

fj 

COMPARABLE SALE #3 

1950 S Lake George Rd 

Attica, MI 48412

COMPARABLE PROPERTY PHOTO ADDENDUM 

Borroveer: Richard Cronk 

File No.: 

25-0100 

Property Address: 73 S Lake George Rd 

Case No.: 265220620 

City: Attica 

State: MI 

Zip: 48412 

Lender: Guaranteed Rate 

COMPARABLE SALE #4 

2234 Bowers Rd 

Lapeer, MI 48446 

Sale Dale: $10/24;c09/24 

Sale Price: $ 231,000 

COMPARABLE SALE #5 

2614 Long Lake Rd 

Lapeer, MI 48446 

Sale Date: s09/24;c08/24 

Sale Price: $ 235,000 

COMPARABLE SALE #6 

1082 Morris Rd 

Lapeer, MI 48446

FLOORPLAN SKETCH 

Borrower: Richard Cronk 

file No.: 

25-0100 

Property Address: 73 S Lake George Rd 

Case No.; 255220620 

City: Attica 

State: MI 

Zip: 48412 

Lender: Guaranteed Rate 

307 

24ft 

428% 

od 

" 

Laundry 

th 

I] 

Outbuiiding 

& 

Kitchan 

ook 

°F 

Bedroom 

H 

N 

n 

rage 

5 

2 

i 

Bedroom 

Bedroom 

Tin 

Living Room 

Toh 

75k 

p 

h 

428 

213% 

Unfinished 

5 

Baszmant 

[ 

8 

& 

215% 

5 

213%

LOCATION MAP 

Borrower: Richard Cronk 

File No. 

25-0100 

Properly Address: 73 S Lake George Rd 

Case No.: 255220620 

Cily: Attica 

Slale: MI 

Zip: 48412 

Lender: Guaranteed Rate 

A 

\ 

3 

va 

Lake’ 

pares Lake 

| 

‘ 

{ 

J 

Comparable Sale 5 

& 

2614 Long Lake Rd 

Lapeer, MI 48446 

| 

5.50 miles NW 

* 

Fl 

- 

Comparable Sale 4 

2234 Bowers Rd 

Lapeer, MI 48446 

4.14 miles NW 

Comparable Sale 6 

1082 Morris Rd 

Lapeer, MI 48446 

4.99 mites SW 

ek 

- 

i 

7 

73 S Lake George Rd 

Aftica, MI 48412 

Attica, Ml 48412 

1.97 miles NE 

Comparable Sale 2 

4509 Attica Rd 

Attica, MI 48412 

0.99 miles NE 

Comparable Sale 

1 

4814 Attica Rd 

J 

Attica, MI 48412 

i 

1.55 miles NE 

Subject 

Light-Christ 

oe 

aupity Church 

557 

Comparable Sale 3 

1950 S Lake George Rd 

| 

Attica, MI 48412 

1.79 miles SE 

{ I

AERIAL MAP 

Borrower: Richard Cronk 

File No.. 

25-0100 

Properly Address: 73 S Lake George Rd 

Case No.: 255220620 

Cily: Attica 

Stale: MI 

Zip: 48412 

Lender: Guaranteed Rate 

{ 

b 

ill Rd 

Peppy Rd 

Peppermill RY 

pepe 

(Peppermill Rd 

Peppermill RA: 

5 

P251090/HENS 

PHPBI030 ETS! 

PU51039 LTS]

255220620 

USPAP ADDENDUM 

Fie to. 26-0100 

Borrower: Richard Cronk 

Properly Address: 73 8 Lake George Rd 

City: 

Attica 

Counly: Lapeer 

State: MI 

Zip Code: 48412 

Lender: 

Guaranteed Rate 

APPRAISAL AND REPORT IDENTIFICATION 

This report was prepared under the following USPAP reparting option: 

{X) Appraisal Report 

A vititlen report prepared under Standards Rule 2-2(a). 

{7 Restricted Appraisal Repor! 

A wrillen report prepared under Standards Rule 2-2(b). 

Reasonable Exposure Time 

My opinion of a reasonable exposure time for the subject property at the market value stated in this report is: 0-90 days 

Additional Certifications 

{51 have performed NO services, as an appraiser of In any other capacity, regarding the property thats the subject of this report vithin the three-year 

period immediately preceding acceptance of this assignment. 

1 HAVE performed services, as an appraiser of in another capacity, regarding 

the 

property that is the subject of this report within the three-year 

pp 

g the prop: 

period immedialely preceding acceptance of nis assignment. Those services are described in the comments below. 

Additional Comments

Borrower: Richard Cronk 

File No.: 

25-0100 

Property Address: 

73 S Lake George Rd 

Case No.: 265220620 

Cily: Attica 

Stale: MI 

Zip: 48412 

Lender: Guaranteed Rate

Accelerant National Insurance Company 

(A Stock Company) 

400 Northridge Road, Suite 800 

Sandy Springs, GA 30350 

REAL ESTATE APPRAISERS 

ERRORS AND OMISSIONS INSURANCE POLICY 

DECLARATIONS 

NOTICE: THIS IS A “CLAIMS MADE AND REPORTED" POLICY. THIS POLICY REQUIRES THAT A CLAIM 

BE MADE AGAINST THE INSURED DURING THE POLICY PERIOD AND REPORTED TO THE INSURER, 

IN WRITING, DURING THE POLICY PERIOD OR EXTENDED REPORTING PERIOD. 

PLEASE READ YOUR POLICY CAREFULLY. 

Policy Number: NAX40PL103553-01 

Renewal of: NAX40PL1035653-00 

1. 

2, 

8 

10. 

Named Insured: Matthew Steven Talacko 

Address: 21609 Martin Rd 

St. Clair Shores, MI 48081 

Policy Period: 

~~ From: July 11, 2024 

To: July 11, 2025 

12:01 AM. Standard Time at the address of the Named Insured as stated in item 2. Above. 

Limit of Liability: 

Each Claim 

Policy Aggregate 

Damages Limit of Liability 

4A. $1,000,000 

4c. $ 1,000,000 

Claim Expenses Limitof Liability 

4B. $1,000,000 

4D. $ 1,000,000 

Deductible (Inclusive of Claims Expenses): 

Each Claim 

Aggregale 

SA. $500 

5B. $1,000 

Policy Premium: $ 618 

Retroactive Date: July 11, 2023 

Notice to Gompany: Notice of a Claim or Potential Claim should be sentto: 

OREP Insurance Services: info@orep.org 

6353 EI Cajon Blvd, Sulte 124-605 

San Diego, CA 92115 

Program Administrator: OREP Insurance Services, LLC — appraisers@orep.or 

Forms and Endorsements Attached at Policy Inception: See Schedule of Forms 

If required by state law, this policy will be countersigned by an authorized representative of the Company. 

Nfaaae Peck 

Date: July 15, 2024 

By:

255220620 

File No. 25-0100 

exxrrnns [NVOICE *H4*rvees 

File Number: 25-0100 

Guaranteed Rate 

3940 N. Ravenswood 

Chicago, I. 80613 

Borrower 

: 

Richard Cronk 

Invoice # 

: 

25-0100 

Order Date 

: 

Reference/Case #: 

255220620 

PO Number 

: 

73 S Lake George Rd 

Attica, MI 48412 

Appraisal Fee 

invoice Total 

State Sales Tax @ 

Deposit 

Deposit 

Amount Due 

Terms: 

Please Make Check Payable To: 

Shoreview Appraisal Services 

21609 Martin Rd. 

St. Clair Shores, MI 48081 

Fed. 1.D. # 46-4991136 

Thank you for your business! 

$ 

500.00 

So 

$ 

500.00 

$ 

0.00 

($ 

) 

s 

) 

$ 

500.00

wr JA pre co [7s Aer 

bon Jace /s 

su BHP 

APPRAISAL OF 

LOCATED AT: 

73 S Lake George Rd 

Attica, MI 48412 

FOR: 

Guaranteed Rate 

3940 N Ravenswood Ave 

Chicago, IL, 60613 

BORROWER: 

Richard Cronk

265220620 

File No. 25-0100 

Guaranteed Rate 

No AMC 

Guaranteed Rate 

3940 N Ravenswood Ave 

Chicago, IL, 60613 

File Number: 

25-0100 

in accordance with your request, 

| have appraised the real property at: 

73 S Lake George Rd 

Attica, MI 48412 

The purpose of this appraisal is to develop an opinion of the market value of the subject property, as improved. 

The property rights appraised are the fee simple interest in the site and improvements. 

in my opinion, the market value of the property as of 

June 24, 2025 

is: 

$265,000 

Two Hundred Sixty-Five Thousand Dollars 

The attached report contains the description, analysis and supportive data for the conclusions, 

final opinion of value, descriptive photographs, limiting conditions and apprepriate certifications. 

Respectfully submitted, 

Wathen 7abhcks 

Matthew Talacko

ie Tu J a wy 

B32 S.coKE Geog FD 

AT] 

1A 

MW 

[ rs 

Ea

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