25-003303 appraisal_09182026.pdf

William B Sullivan, Petitioner V Township Of Casco, Respondent · 25-003303-TT

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Borrower 

NA 

~ 

a 

File No. 

12343 

| Property Address 

7143 Maple Ave 

EE 

City 

South Haven 

County 

Allegan 

Lender/Client 

Bill Sullivan 

State 

ai 

ZipCode 49090 

TABLE OF CONTENTS 

GP Residential Certifications Addendum 

GP Residential... 

Additional Comparables 4-6 

. 

» 

Supplemental Addendum W/SIQ DIOCK .......ccccvvscuussssmsssssmssssssmssemssssssssssssssssssssssssssss sss 

Land Sales ......... 

Location Map 

Building Sketch (Page - 1) 

Building SKEtCh (PAGE = 2) 

.cvovvuvevesrrecesssessmmsesessssmssascscsis 

Subject Photos 

Subject Photos 

Subject Photos 

EL 

Subject Photos 

Subject Photos Interior 

Subject Photos Interior ... 

Comparable Photos 1-3 

Comparable Photos 4-6 

Location Map ....... 

License 

E&O Policy .... 

Form TOCP - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Assumptions, Limiting Conditions & Scope of Work 

FleNo: 

12343 

3 

Cty: South Haven 

State: MI 

Zip Code: 48090 

143 Maple Ave, South Haven, MI 49090 

Address: 

610 N Maple St, Saugatuck, MI 49453 

STATEMENT OF ASSUMPTIONS & LIMITING CONDITIONS 

- The appraiser wil not be responsible for matters of a hg nature that affect either the property being appraised or the title to it. The appraiser assumes that the title is marketable 

of it being under responsible ownership. 

‘The appraiser may have provided a sketch in the appraisal report 

to show approximate dimensions of the improvements, and any such sketch 

is Included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. Unless otherwise indicated, a Land. Survey 

| 

- It so Indicated, 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 the appraisal report whether the subject site Is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she 

| 

- The appraiser will ot give testimony o 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. 

| 

| 

- Ifthe cost approach is included In this appraisal, the appraiser has estimated the value of the land in the cost approach at its highest and best 

| 

use, and the improvements at their contributory value. These separate valuations of the land and improvements must not be used in conjunction 

{ with any other appraisal and are invalid if they are so used. Unless otherwise specifically indicated, the cost approach value is not an insurance 

| value, and should not be used as such. 

}i..{ 

- The appraiser has noted in the appraisal report any adverse conditions (including, but not fimited to, needed repairs, depreciation, 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 

H normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any 

i hidden or unapparent conditions of the property, or adverse environmental conditions (including, but not limited to, the presence of hazardous 

| wastes, toxic substances, etc.) that would make the property more or less valuable, and has assumed that here are no such conditions and 

makes no guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any 

b{ 

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, the appraisal report must not be considered as an environmental assessment of 

the property. 

- The appraiser obtained the information, estimates, and opinions that were expressed In the appraisal report from sources that he or she 

| considers to be reliable and befleves them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items 

that were fumished by other parties. 

- The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice, and any applicable federal, 

"| 

state or local laws. 

- If this appraisal is indicated as subject to satisfactory completion, repairs, or alterations, the appraiser has based his or her appraisal report 

and valuation conclusion on the assumption that completion of the improvements will be performed in a workmanlike manner. 

- An appraiser's client is the party (or parties) who engage an appraiser in a specific assignment. Any other party acquiring this report from the 

client does not become a party to the appraiser-client relationship. Any persons receiving this appraisal report because of disclosure requirements 

applicable to the appraiser's client do not become intended users of this report unless specifically Identified by the client at the time of the 

assignment. 

- The appraiser's written-consent and approval must be obtained before this appraisal report can be conveyed by anyone to the public, through advertising, public relations, news, 

| sales, or by means of any other media, or by its inclusion in a private or public database. 

- An appraisal of real property is not a ‘home inspection’ and should not be construed as such. As part of the valuation process, the appraiser performs a non-invasive visual 

inventory that is not intended to reveal defects or detrimental conditions that are not readily apparent. The presence 

of such conditions or defects could adversely affect the appraiser's opinion of value. Clients with concems about such potential negative factors 

are encouraged to engage the appropriate type of expert to investigate. 

The Scope of Work is the type and extent of research and analyses performed in an appraisal assignment 

that is required to produce credible assignment results, given the nature of 

the appraisal problem, the specific requirements of the intended user(s) and the intended use of the appraisal report. Reliance upon this report, regardless of how acquired, by any 

party or for any use, other than those specified in this report by 

the Appraiser, is prohibited. The Opinion of Valug that is the conclusion of this report is credible only within the context of the Scope of Work, Effective Date, the Date of Report, the 

Intended User(s), the Intended Use, the stated Assumptions and Limiting Conditions, any Hypothetical Conditions and/or Extraordinary Assumptions, and the Type of Valug, as 

| 

| defined herein. The appraiser, appraisal fir, and related parties assume no obligation, liability, or accountability, and will not be responsible for any unauthorized use of this report or 

| 

its conclusions. 

| | Additional Comments (Scope of Work, Extraordinary Assumptions, Hypothetical Conditions, etc.):See attached addendum. 

GP RESI DEN’ 

AL 

ToRyTgF 2007 by 3 ode, Tc. TH To ay D3 16p100uced Uno Ted WOU! WATER GErTSSIon, POWEVE, 

a Ode, . USL 06 &cKNawEdged and Grae. 

FYE 

SELENE 

Form GPRES2AD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE 

3/2007

Certifications 

: 

FloNo: 

12343 

Property Address: 

7143 Maple Ave 

City: South Haven 

State: MI 

Zip Code: 49090 

_ Address: 

_ 7143 Maple Ave, South Haven, MI 49090 

Address: 

610 N Maple St, Saugatuck, 

MI 49453 

APPRAISER'S CERTIFICATION 

- 

| certify that, to the best of my knowledge and belief; 

- The statements of fact contained in this report are true and correct. 

- The credibility of this report, for the stated use by the stated user(s), of the reported analyses, opinions, and conclusions are limited only by 

| the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions. 

| 

- 

1 have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved. 

| 

- Unless otherwise Indicated, 

| have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year 

| period immediately preceding acceptance of this assignment. 

- 1 have no bias with respect to the property that is the subject of this report or to 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 of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly refated 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 that were 

in effect at the time this report was prepared. 

| 

i 

| - 1 did not base, either partially or. completely, my analysis and/or the opinion of value in the appraisal report on the race, color, religion, 

| 

sex, 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. 

. 

~ Unless otherwise indicated, 

| 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. 

Additional Certifications:See aftached addendum. 

DEFINITION OF MARKET VALUE *: 

Market value means the most probable price which a property should bring in a competitive and open market under alt conditions requisite 

10 a sale, the buyer and seller each acting prudently and 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 acting in what they consider their own best interests; 

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 amangements 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. 

* This definition is from regulations published by federal regulatory agencies pursuant to Title XI of the Financial Institutions 

| Reform, Recovery, and Enforcement Act (FIRREA) of 1989 between July 5, 1990, and August 24, 1990, by the Federal Reserve System 

| (FRS), National Credit Union Administration (NCUA), Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), 

and the Office of Comptroller of the Currency (OCC). This definition is also referenced in regulations jointly published by the OCC, OTS, 

|{ 

FRS, and FDIC on June 7, 1994, and in the Interagency Appraisal and Evaluation Guidelines, dated October 27, 1994. 

Client Contact: 

Bill Sullivan 

Client Name: 

BillSulivan 

| E-Mail: whbsullivan84@yahoo.com 

Address: 

7143 Maple Ave, South Haven, MI 49090 

| APPRAISER 

SUPERVISORY APPRAISER (if required) 

| 

"|or CO-APPRAISER (if applicable) 

~ 

a C4 

ARS Y 

Supervisory or 

? Appraiser Name: 

Terry 

W 

¥an Dis 

Co-Appraiser Name: 

| Company. 

Lakeland Appraisal Company. 

Company: 

~ 

Phone: 616-218-2123 

Fax. 888-422-5796 

Phone: 

Fax 

| 

|EMal lakelandappraisal@gmailcom 

E-Mail: 

_ 

| Date Report Signed: 

05/13/2025 

Date Report Signed: 

|| License or Certification #: 

1204068946 

State: 

MI 

License or Certification #: 

Designation: 

~~ CRA 

: 

Designation: 

_ 

Expiration Date of License or Certification: 

07/31/2026 

Expiration Date of License or Certification: 

inspection 

of Subect: ~~ 

X) Imeior 

& Exterior] 

Exterior 

Only 

[J None | Inspection 

of Subject: 

|_| Interior 

& Exterior) Exterior 

Only 

"| None 

i| Date of Inspection: 

05/10/2025 

Date of Inspection: 

[GP] 

E! IDENTIAL 

Copyright® 

2007 by ata mode, Inc. THis form may be reproduced Unmadiied WIIOUL Wren permission, NOWever, a la mode, inc. must be acknowledged and 

redid. 

pl 

=] 

Sh 

Ea 

Form GPRES2AD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE 

3/2007

Terry Van Dis 

RESIDENTIAL APPRAISAL SUMMARY REPORT 

File No: 

12343 

£63 Property Address: 

7143 Maple Ave 

City: South Haven 

State: MI 

Zip Code: 49090 

ounly: Allegan 

Legal Description: 

LOTS 237 & 238 GLENN SHORES NO 1 SEC 6 

TIN R16W. 

Assessor's Parcel #: 

~ 

Borrower (if applicable): 

Occupant: 

(> Owner 

DX Other (describe) 

NA 

 02-181-23 

NA 

(Tenant 

[| Vacant 

HOA: $ 300 

Tax Year: 2024 

R.E. Taxes: $ 9,020 

Special Assessments: $ 

}{ Current Owner of Record: 

Sullivan W & C Trust & Ann T. 

Project Type: 

[CJ PUD 

[] Condominium 

[_] Cooperative 

larket Area Name: 

Glenn Shores 

Map Reference: 26090 

hie purpose of this appraisal is to develop an opinion of: 

DK Market Value (as defined), or 

[|] other type of value (describe) 

H| This report reflects the following value (if not Current, see comments): 

[Current (the Inspection Date is the Effective Date) 

| Approachies developed for this appraisal: 

Sales Comparison Approach 

) Cost Approach 

[| Income Approach 

roperty Rights Appraised: 

[X Fee Simple 

[| Leasehold 

 [] Leased Fee 

| 

] Other (describe) 

tended Use: 

See attached addendum. 

| Manufactured Housing _ 

peryear 

[| perme 

Census Tract: 0309.01 

CIR rospecive 

In| Prospe 

(Ses Reconciliation Comments and Scope of Work) 

intended User(s) (by name or ype): 

* 

See attached addendum. 

| Client: __ Bill Sullivan 

Address: 

7143 Maple Ave, South Haven, 

MI 48090 

i 

Terry 

W Van Dis 

Address: 

610 N 

Maple St, Saugatuck, MI 49453 

{_J Urban 

[_] Suburban 

4 Rural 

Predominant 

One-Unit Housing 

Present Land Use 

Change in Land Use 

[Jover7ss 

[25-75% 

 [] Under 25% 

Occupancy 

PRICE 

AGE 

|One-Unit "25 %| (Not Likely 

v 

[7] Rapid 

X Stable 

[1 Slow 

[Owner 

$(000) 

(rs) 

|2-4Unt 

1%] 

Lkely* 

[]InProcess* 

521 Property values: 

 [] Increasing 

[3] Stable 

[1 Declining 

[7] Tenant 

65 

Low 

1 

fMulti-Uni 

1%|* 

To: 

oo 

2 

| Demand/supply: 

[_] Shortage 

DX) In Balance 

[| Over Supply 

| (X) Vacant (0-5%) | 

3,500 

High 

175 

_|Comm't 

3% 

Marketing time: 

~~ ) Under 3 Mos. [ ] 3-6 Mos. 

[] Over 6 Mos. 

|[7] Vacant (>5%) 

570 

Pred 

65 

Other 

70% 

Market Area Boundaries, Description, and Market Conditions (including support for the above characteristics and trends): 

The subject neighborhood 

is bound by 

Dimensions: 

122 x 123 x 122 x 123 

| 

Zoning Classification: 

~~ R-2 

Site Area: 

15,006 sf 

_ 

Description: 

Low Density Residential 

|] Legal nonconforming (grandfathered) 

{J Yes DX No 

Ground Rent (it applicable) 

“["1'No zoning 

7 

Zoning Compliance: 

legal 

legal ~ 

Have the documents been reviewed? 

[J Other use (explain) 

Im CC&Rs applicable? 

[| Yes 

[| No 

[{ Unknown 

lighest & Best Use as improved: 

<i Present uss, or 

$ 

| 

Actual Use as of Effective Date: 

ummary of Highest & Best Use: 

Single Family Residential ~__ 

~ 

“Use as appraised in this. report: 

Single. Family Residen 

The subjects Highest and Best Use is as improved at present as Single Family Residential. 

Public 

Other” 

Provider/Description 

| Off-site Improvements 

~~ 

Type 

Public 

Private | Topography 

Level, Sloping 

to Lake MI 

BX 

[J 

Public, Typical 

Street 

Gravel 

0 

x 

|s 

0. 

[J 

DC 

None, LP. available | Cutb/Guter 

None 

{1 

[| 

Shape 

[0 

® 

Well (notadverse) 

[Sidewalk 

None 

[1 

[7 

[Drainage 

anitary Sewer [|X 

Septic (not adverse) | Street Lights 

None 

OO 

pew 

Storm Sewer 

DX 

[1 

Public, Typical 

Ally 

None 

jn] 

Other site elements: 

DK] Inside Lot 

[| Corner Lot 

Cul de Sac 

[| Underground Utilities 

[ *] Other (describe) 

[FEMA Spec'l Flood Hazard Aca 

[| Yes 

OK] No 

FEMA Flood ZoneX 

FEMA Map # 26005C0340G 

FEMA Map Date 

6/21/2023 

Site Comments: 

~~ There are no adverse easements, encroachments observed, 

or other apparent adverse conditions noted at the time of 

|| inspection. 

| General Description 

Exterior Description 

Foundation 

Basement 

DX None 

Heating 

#ofUnits 

1. 

[7] Acc.Unit | Foundation 

Conc Block {Slab 

None 

 [AeaSq.Ft 

0 |Tye 

BBFA 

|| 

#of Stories 

2 

| Exterior Walls 

‘Wood 

Crawl Space Yes 

% Finished 

~~ 0 

Fuel 

| 

{Type DQ) Det. [CJ A (J 

__| Roof Surface 

_|Basement 

None, 

Ceiling 

NA 

Design (Style) 

Colonial 

__ 

__| Gutters & Dwnspts. 

{Sump Pump 

{"] None 

Walls 

NA 

Cooling 

(X) Existing (Proposed 

[_] Und.Cons. | Window Type 

Vinyl —___|Dampness 

["] None 

Floor 

NA 

[Cental 

CAC 

Actual Age (Yrs) 

47. 

Storm/Screens 

. 

Vinyl 

Settlement 

None 

{Outside Entry NA 

Other 

# Effective Age (Yrs) 

20 

Infestation 

None 

Interior Description 

Appliances 

Attic 

{X None | Amenities 

B 

Car Storage 

[I None 

| Floors 

Laminate, Tile-Good 

| Refrigerator 

~~ | Stairs ~~ [J\Fireplace(s) # 1 

Woodstove(s)# 0 

_|Gaage 

#ofcas 

( 

3 

Tot) 

Walls 

Drywall-Good 

Range/Oven 

 OX)|Drop Stair 

[_]|Patio 

Brick 

| 

Mach. 

0 

i 

Disposal 

[Scuttle 

[}{Deck 

2 Decks 

Detach. 

0 

Dishwasher 

~~ Dq| Doorway 

[_1[Porch 

CE, Gazebo 

| 

Bit-in 

. 

FantHood 

(| Floor 

[Offence 

None 

~~] Carport 

0 _ 

Microwave 

~~ DKiHeated 

~~ [_]fPool 

Driveway 

_ 

3 

4 

Washer/Diyer 

[X)| Finished 

["[other 

None 

Surface Gravel 

Finished area above grade contains: 

7_Rooms 

4 

Bedrooms 

2.0 

Bath(s) 

1,964 Square Feet of Gross Living Area Above Grade 

[6 

| Additional features: ~~ See attached addenda. 

Describe the condition of the property (including physical, functional and external obsolescence): 

No functional or physical inadequacies nor needed repair 

BRESIDENTIAL 

"Copyrant® 2007 by a Ta mode, In. Ths Twn May be reproduced UAMOGHied WANOUL WA pETisSion, NGWEVer, a 1a Mog, ic. must be ackaowledged and reared. 

Form GPRES2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE 

32007

RESIDENTIAL APPRAISAL SUMMARY REPORT 

FleNo: 12343 

My research 

[Q 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): _ Assessor/Tax Records & Local Multiple Listing Service (SWMRIC) 

1st Prior Subject Sale/Transfer 

Analysis of sale/transfer history and/or any current agreement of sale/fisting: 

_Research indicates no current or 

pri 

Nn 

ate; 

10/17/2024 

listings, other sales or transfer history for the subject within the last 36 months or comparables within 

rice: 

$589,500 

Source(s): SWMRIC, Assr/Tax Rerd 

| previous sales because the current market doesn't support it. This is based on the most recent 

2nd Prior Subject Sale/Transfer 

comparables sales in the immediate and surrounding area or similar competing area. 

. 

| Date: 

08/31/2023 

— 

a. 

i 

~ 

$580,000 

. 

. SWMRIC, Assr/Tax Rord 

SALES COMPARISON APPROACH TO VALUE (If developed) 

T_J The Sales Comparison Approach was not developed for this appraisal. 

FEATURE 

I 

SUBJECT 

COMPARABLE SALE # 1 

COMPARABLE SALE # 2 

COMPARABLE SALE # 3 

| Address 7143 Maple Ave 

1448 71st St 

1224 Ash br 

79994 Ramblewood Dr 

__South Haven, Mi 49090 

Fennville, MI 49408, 

South Haven, MI 49090 

Covert, Ml 48043 

roximity to Subject 

1.25 miles N 

10.13 miles NW 

Sale Price 

$ 

0 

$ 

550,000) 

| Sale Price/GLA 

$s 

200.22 /sat)S 

343.54 saft 

$__ 

180.50 /50 

Data Source(s) 

MLS, Assessor. 

[SWMRIC#24038220;D0M 40 

SWMRIC#23138788,D0M 178 

| SWMRIC#24021201,00M 

1 

| Verfication Source(s) 

| inspection 

|AsrRcdsPP#0775000100 

AstRcdsPP#030735001700 

AsrRcdsPP#800743200801 

VALUE ADJUSTMENTS 

DESCRIPTION. 

DESCRIPTION 

+(-) 

$ Adjust. 

DESCRIPTION 

+() 

$ Adjust. 

DESCRIPTION 

| 

+(-) 

$ Adjust. 

| Sales or Financing 

0 

ArmLth 

ArmLth 

ArmLth 

Concessions 

0 

Cash;0 

0f[Conv; 12095 

-12,085|Conv;0_ 

. 

9 

Dale of Sale/Time 

0 

09/17/2024 

___ 

0|05/14/2024 

_olos/7/2024 

| 

___0 

Rights Appraised 

Fee Simple 

Fee Simple 

: 

Fee Simple 

Fee Simple 

BiRes;LkAcss 

B;Res;LkAcss 

B;Res;LkAcss 

...|BiRes;LkAcss 

15006 sf 

22521 sf 

0]25700 sf 

0}3 

N;Res;Creek 

N;Res; 

OiN;Res; 

0 

Colonial 

Ranch 

| 

0fContemporary 

of 

Good 

Good 

Good 

. 

__|Good 

_ 

_|47 

— 

75 

0]47 

_ 

94 

ee 

Good 

Goo 

Good 

Good 

‘Above Grade 

Total | Bdms| 

Baths | Total | Barms | _ Baths 

+20,000| 

Total | Bdms| 

Bans 

| 

10,000] Total | Bdms| 

ats 

| Room Count 

71a 

20 

[6l2] 

20 

of10] 

5 

| 

21 

10000 

5 

[ 3] 

21 

Gross Living Area 

1,964 Sa.ft 

1,601 soft 

+18,150) 

3,171 saft 

60,350) 

1,626 sq.ft. 

+16,900) 

Basement & Finished 

0sf 

= 

|osf 

0 sf 

0 sf 

| Rooms Below Grade 

None 

None 

i 

___|None 

None 

| Functional Utility 

Average 

Average 

Average 

| ___ |Average | 

Heating/Cooling 

| 

Elec BB,FA/ICAC _ [Gas FA/ICAC 

&eo.___OJOil FAICAC ___ 

0O|Elec BB/None. 

oo 

0] 

Energy Efficient ftems 

Thermo Wndos 

Thermo Wndos 

Thermo Wndos 

Thermo Wndos. 

£31 

Garage/Carport 

None 

2 Garage Stalls 

_ 

-20,000|1 Garage Stall 

-10,000|None 

a 

| 

Porches,Patio,Dks 

|Porches,Patio 

0|Porches, Decks 

0|Patio,Decks 

9 

I 

place,Shed 

|1 Fireplace 

— 

0|1_Fireplace,Shed 

ls 

; 

"Appraiser typically includes 

nding sales. Due to the limited and 

or lack of 

appraiser was only able to include one listing as Comparable 

4, Using the Local MLS Statis 

it was determined that the Sale Price to List 

_ 

Price ratio is approximately 100%. This information was utilized in making time adjustments. See attached addenda for more information. 

|. 

| Indicated Value by Sales Comparison Approach $ 

570,000 

~ 

en 

ag 

ERT 

gs: 

‘Copyright® 2007 by 

ala mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must 

be acknowledged and credlec 

ESIDEN 1AL 

Form GPRES2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE 

2007

RESIDENTIAL APPRAISAL SUMMARY REPORT 

FleNo: 12343 

| COST APPROACH TO VALUE (if develope 

[J The Cost Approach was not developed for this appraisal. 

rovide adequate information for replication of the following cost figures and calculations. 

~ 

. 

] 

upport for the opinion of site value (summary of comparable fand sales or other methods for estimating site value): 

The value is based on research from the 

| local MLS, county records, and the extraction method. Appraiser searched the area within 10 miles and 10 years from the effective date of 

appraisal. The opinion of site value is based on limited land sales ranging from $80,000 to $140,000, county records, and the extracti 

method. 

# 

{ESTIMATED 

[ | REPRODUCTION OR 

DX] REPLACEMENT COST NEW. 

OPINION OF SITEVALUE ___.._.___.... 

eens 

31 Source of cost data: 

Marshall & Swift Residential Cost Book 

DWELLING 

1,964 SOF. @$ 

327.00. 

31 

Quality rating from cost service: 

Good 

Effective date of cost data: 

12/2024 

Basement. 

0 Seft.@$ 

¥ 

%1 Comments on Cost Approach (gross living area calculations, depreciation, etc.): 

&| 

Cost figures used are based on the Marshall Swift Cost Handbook and 

#21 known local costs. Physical depreciation is based on the age/life 

_ 

method utilizing the observed age of effective age. The Estimated 

Pchs,Patio,Dks,FP 

Remaining Economic Life and Effective Age were estimated based on 

__|Garage/Carport 

. 

| the Subiect's physical condition and comparable homes in the 

Total Estimate of Cost-New 

| neighborhood. A depreciated value for the shed is included in the as is 

[Less 

Physical 

Functional 

__|Extemal 

| value of site improvements. This report is not to be used for insurance __ {Depreciation 

211,253] 

purposes. The opinion of site value is a greater percentage of the 

Depreciated Gost of Improvements 

l 

| indicated value by coast approach. This is typical for other similar lake __|"As-is" Value of Site Improvements 

i| access properties in the area. 

Estimated Remaining Economic Lie (1 required): 

40 Years |INDICATED VALUE 

BY COST APPROACH 

590,818 

| INCOME APPROACH TO VALUE (if developed) 

DX The Income Approach was not developed for this appraisal. 

51 Estimated Monthly Market Rent $ 

0 

X_Gross Rent Multiplier 

0 

=$ 

e by Income Approach 

{62 Summary of Income Approach (including support for market rent and RM): 

Due to the lack of rental data, the income approach was not utilized. 

| 

PROJECT INFORMATION FOR PUDs (if applicable) 

(| The Subject is part of a Planned Unit Development. 

H{ Legal Name of Project: 

Describe common elements and recreational facilities: 

-{ Indicated Value by: Sales Comparison Approach $ 

570,000 

Cost Approach (if developed) $ 

590,818 

Income Approach (If developed) $ 

{Final Reconcilidion 

~The market 

data approach 

is relied on most heavily in determining final market value. This approach recognizes the actions 

1 of both buyers and sellers, and is supported by the cost approach. Due to the lack of rental data, the income approach 

was not utilized. 

| This appraisal 

is made OX “asis”, 

[_] 

subject 

to 

completion 

per 

plans 

and 

specifications 

on 

the 

basis 

of 

a 

Hypothetical 

Condition 

that 

the 

improvements 

have 

been 

2] completed, 

[] sublect 

to 

the following 

repairs 

or alterations 

on 

the 

basis 

of 

a 

Hypothetical 

Condition 

that ihe repairs 

or alterations 

have 

been completed, 

| 

| subject 

to 

the following 

required inspection 

based 

on 

the Extraordinary Assumption 

that the condition 

or deficiency 

does 

not require alteration 

or 

repair: 

: [ml This 

report 

is also subject 

to 

other Hypothetical 

Conditions 

and/or Extraordinary Assumptions 

as 

specified 

in_the “attached addenda. 

+ (Based on the degree 

of inspection 

of the subject property, as indicated below, defined Scope 

of Work, Statement of Assumptions and 

Limiting Conditions, 

“| and Appraisers Certifications, my {our) Opinion 

of the Market Value (or other specified value type), as defined herein, of the 

real property that is the subject: 

of 

this 

report 

is: 

§ 

570,000 

05/10/2025 

1 which 

is the effective date ofthis appraisal. 

If indicated above, this Opinion of Value is subject to Hiponetia Conditions and/or Extraordinary Assumptions included in this report. 

See attached addenda. 

A 

true 

and complete copy 

of 

this 

report contains 28 pages, 

including 

exhibits which 

are considered 

an 

integral 

part of the 

report. 

This appraisal 

report may 

not 

be 

properly understood 

without 

reference 

to 

the 

information 

contained 

in 

the complete 

report. 

Attached Exhibits: 

x Scope of Work 

x Limiting Cond./Certfications 

~~ DX) Narrative Addendum 

X Photograph Addenda 

D4 Sketch Addendum 

DX] Map Addenda 

DX Additional Sales 

DX. Gost Addendum 

[] Flood Addendum 

[1 Man. House Addendum 

DX Hypothetical Conditions 

4 Extraordinary Assumptions 

jl 

| 

if Client Contact: ~~ Bill Sullivan - 

Client Name: 

Bill Suflivan__ 

| 

E-Mail: wbsullivan84@yahoo.com 

Address: 

7143 Maple Ave, South Haven, MI 49090 

SUPERVISORY APPRAISER (if required) 

or CO-APPRAISER (if applicable) 

J 

~ 

tm 

2) 

. 

Supervisory 

or 

Appraiser Name: 

Terry 

W 

an Dis 

Co-Appraiser Name: 

Company: 

Lakeland Appraisal Company 

Company: 

Phone: 616-218-2123 

Fax. 888-422-5796 

Phong: * 

| E-Mall: |akelandappraisal@gmail.com 

E-Mall: 

| 

Date of Report (Signature): 

~~ 05/13/2025 

Date of Report (Signature) 

License or Certfication #: 

1204068946 _ 

State mi 

|License or Certfication #: 

- 

~ 

} 

Designation: 

~~ CRA 

Designation: 

_ 

{| Expiration Date of License or Certification: 

07/31/1202 

_ 

____ 

| Expiration Date of License or Cerification: 

LL 

| 

{Inspection of Subject: 

{X Interior & Exterior 

J 

[] None | Inspection of Subject: 

[1 Interior & Exterior 

1 Exterior Only ~~ [] None 

i 

Date of Inspection: 

05/10/2025 

Date of Inspection: 

- 

Copy ght® 2007 By ala mode, ic, TS 107m may DE feproauced UnmOGed WATOUL Willen permission, NOWEVer, 

a mote, nc. MUSI be aCKTOWIEGged and credited. 

L 

Form GPRES2 - “TOTAL" appraisal software by ala mode, inc. - 1-800-ALAMODE 

32007

ADDITIONAL COMPARABLE SALES 

File No.: 

12343 

FEATURE 

SUBJECT 

COMPARABLE SALE # 

4 

- COMPARABLE SALE # 

5 

COMPARABLE SALE # 

6 

Address 7143 Maple Ave 

35 3rd St 

' 

South Haven, MI 49090 

South Haven, 

MI 49090 

— 

— 

— 

— 

8.65 miles S 

I 

$ 

of 

$ 

649,000) 

Sale Price/GLA 

$ 

200.22 /saft|$ 

393.57 /saft 

$ 

Jatt. 

Data Source(s) 

MLS, Assessor 

[SWMRIC#25017558,D0M 18 

J 

Verification Source(s) 

Inspection 

AsrRcdsPP#805331000310 

a 

FR 

VALUE ADJUSTMENTS 

DESCRIPTION 

DESCRIPTION 

+) § Adjust. 

DESCRIPTION 

+) § Adjust. 

DESCRIPTION 

Sales or Financing 

0 

Listing 

Concessions 

0 

SP/LP:0 

[4] 

i 

= 

Date of Sale/Time 

0 

Active 

0] 

Rights Appraised 

Fee Simple 

Fee Simple 

— 

- 

Location 

B;Res;LKAcss 

B;Res;LkAcs. 

Site 

_- 

150086 sf. 

6250 sf 

0) 

View 

N;Res;Creek 

N;Res; 

0 

Design (Style) 

Colonial 

Colonial 

— 

Quality of Construction 

| Good 

Good 

Age 

47 

16 

0) 

Condition 

Good 

Good 

Above Grade 

Total | Bdmms | 

Baths 

| Total | Bdrms| 

Baths 

Total 

| Bdms| 

Baths 

Room Court 

74] 

20 

|8] 

a] 

21 

-10,000) 

Gross Living Area 

1,964 sqft 

1,649 saft 

+18,750] 

sqft 

Basement & Finished 

0 sf 

0sf 

Rooms Below Grade 

None 

None 

_ 

Functional Utility 

Average 

Average 

SE 

Heating/Cooling 

Elec BB,FA/ICAC 

_|Gas FAICAC 

0 

Energy Efficient tems 

Therrho Wndos ____| Thermo Wndos 

Garage/Carport 

None 

2 Garage Stalls _ 

-20,000] 

Porch/Patio/Deck 

Porches, Patio,Dks_|Porch,Patio 

of 

Fireplace, etc. 

1 Fireplace,Shed 

__|1 Fireplace 

0 

Net Adjustment (Total) | 

[+ 

B- 18 a2s0) 

[1+ 

[1- 

I$ 

Adjusted Sale Price 

of Comparables 

$ 

634,750) 

$ 

$ 

Summary of Sales Comparison Approach 

Appraiser typically includes two active listings and or pending sales. Due to the limited and 

or lack of 

appraiser was only able to include one listing as Comparable 4. Using the Local MLS Statisti 

as determined that the Sale Price to List 

Price ratio is approximately 100%. This information was utilized in making time adjustments. 

tached addenda for more information. 

CopyTight® 2007 ty a Ta mods, In. Tis or may be reproduced UnmaGNEd WNOUL Wien pEsTsSion, NOWEVer, a 1a Mog, nc. Ms! be 2cKIOWIEQQed and credied. 

Form GPRES2.(AC) - “TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE 

3/2007

Supplemental Addendum 

File No. 12343 

Borrower 

NA 

— 

Property Address 

7143 Maple Ave 

City 

South Haven 

_ 

County Allegan 

Se 

WI 

Tote ame 

Lender/Client 

Bill Sullivan 

The purpose of the appraisal is to determine an opinion of market value of the subject property for market valuation and 

property tax purposes. This appraisal report is to be identified as a General Purpose Residential report. 

: 

The intended user of this appraisal report is the client. The intended use is to evaluate the property that is the subject of this 

appraisal for market valuation, subject to the stated scope of work, purpose of the appraisal, reporting requirements of this 

appraisal report form, and definition of market value. 

No additional intended users are identified by the appraiser. 

The appraiser has not identified any purchaser, borrower or seller as an intended user of this appraisal, and no such party 

should use or rely on this appraisal for any purpose. Such parties are advised to obtain an appraisal from an appraiser of their 

own choosing if they require an appraisal for their own use. Any reference to or use of this appraisal report by a purchaser, 

borrower or seller for their own purposes, including without limitation for the purposes of a property purchase decision or an 

appraisal contingency in a purchase agreement, is at such party's own risk and is not intended or authorized by the appraiser. 

In general, this scope requires adherence to acceptable appraisal methodology as defined by peer practice as well as the 

Appraisal Institute's The Appraisal of Real Estate (latest edition), applicable Al Guide Notes and such other credible published 

information as may be promulgated by the Appraisal Foundation, the Appraisal Subcommittee, professional journals and the 

like. The report will comply with USPAP, State and Federal law. State Regulatory requirements, any applicable client and 

secondary market guidelines, and alt additional requirements noted on the order form (included by reference). 

"The digital photos have in no way been altered or modified. Photos used are original from appraisers inspection. 

For this 

assignment photos are from the MLS or previous appraisals. At a minimum appraiser has observed the properties from the 

street. 

. 

Measurements were obtained using ANSI Standards. The measurements detailed in the sketch are displayed and measured to 

the nearest tenth of a foot or inch. The measurements comply with ANSI 2765-2021. 

The signature on this appraisal are digital signatures, which are computer generated and are printed on the report. The 

appraisers signature is secured by a password which only the appraiser has access to. 

If any modifications were made on this 

appraisal, the signature would be eliminated. This form of certification has been approved by The Appraisal Foundation, located 

at 1029 Vermont Ave, N.W.m Ste. 900, Washington, D.C. 20005-3517. The Appraisal Foundation is authorized by Congress 

as the Source of Appraisal Standards and Appraiser Qualifications. This approval can be found in thé Statement on Appraisal 

Standards No. 8 (SMT-8) on the Electronic Transmission of Reports. The section regarding signed certification reads as 

follows: 

Any software program used to electronically transfer a report must provide, at minimum, a digital signature security feature for 

all appraisers signing a report. The appraiser(s) should ensure the signature(s) are protected and that only the appraiser(s) 

maintain control of the signature. This control may be maintained by password (e.g. PIN numbers), hardware carries the same 

level of authenticity and responsibility as an ink signature on a paper copy report. 

Appraisal Standards Board, Adopted 7/18/95, Effective 1/1/96 

In Michigan, appraisers are required to be licensed/certified and are regulated by the Michigan Department of Licensing and 

Regulatory Affais, P.O. Box 30018, Lansing, Mi 48909. 

The appraiser that completed this report confirms that they have adequate competency to complete appraisal assignments in 

the subject's market area. 

If subpoenaed to testify for a legal action regarding this appraisal, the appraiser's fee, for each day of testimony/scheduled 

appearance time, is set as follows: $300.00 minimum, up to and including the first two hours of testimony/scheduled 

appearance time, including driving time and $250.00 per hour thereafter. 

By accepting this appraisal and using it in a legal 

action, regardless of who subpoenas the appraiser, the client agrees to the aforementioned fee, as well as the conditions set 

forth in the “Statement of Limiting Conditions and Appraisers Certification” Item #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 met beforehand.” 

Appraiser Level of Licensure 

Disclosur: 

The appraiser Terry 

W Van Dis currently has a Certified Residential Appraiser License. 

Prior Services: 

ll have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report 

within the three-year period immediately preceding acceptance of this assignment. 

Exposure Time: 

Is defined as the 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. Exposure time is a 

retrospective opinion based on an analysis of past events assuming a competitive and open market. This definition is from the 

Definitions section of the 2012-2013 version of USPAP. 

Reasonable exposure time for comparable properties in the value range of the subject home would be 30-120 days based on 

the median days on market of the current 12 months noted in the 1004MC addendum and in the URAR Neighborhood Market 

onditions. 

Neighborhood Description 

The subject is locate 

ingSouth Haven, AA Allegan County, Michigan. The subject is located in a rural area mixed 

i 

Signature 

_ 

Ar] 

ET 

Signature 

a 

I 

Name Terry W Van Dis _ 

/ 

} 

Name 

_ 

Date Signed 

05/13/2025 

__ 

Date Signed 

State Certification # 

State Certification # 

Or State License # 

Or State License # ~~ __ 

State 

Form TADD2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Supplemental Addendum 

Fle No. 12343 

Borrower 

NA 

Property Address 

7143 Maple Ave 

- 

City 

South Haven 

— 

County Allegan 

__ 

— 

State Mi 

Lender/Client 

Bill Sullivan 

with suburban areas. Homes are mixed in value and style. Linkages and supports are present and adequate. 

Local shopping, 

banks, restaurants, entertainment, and stores are within a few miles. - A variety of employment opportunities are available in the 

area. Access to major roadways. Recreational activities are abundant. 

No observable negative/adverse neighborhood factors 

were noted at time of observation. 

Other for Present Land Use % 

is vacant, woods, farm land, etc. 

Neighborhood - Market Conditions 

Due to the lack of sales in the past 

6 months along with seasonal marketing trends it was necessary to utilize a broader scope 

to determine accurate marketing trends in the subject's neighborhood. 

A year over year evaluation of all relevant sales located 

within the subject's neighborhood and market area as defined in this report was used to determine the one unit housing trends. 

The information provided was limited to only comparable sales and listings to assist with the overall analysis of more specific 

marketing trends. The appraiser had to mark the market trend boxes based market activity observed by the appraiser over 

recent 12 month period, interview by local market participants (buyers, sellers, and brokers). 

Property values in the area have shown signs of stabilizing. 

| base this opinion largely on data supplied by the local Association 

of Realtors. Based on the general state of the economy nationwide continued pressure on home values is possible. Although 

the availability of consumer loans has tightened, typical financing: Conventional, FHA, and VA is available to qualified buyers. 

There is somewhat of a cyclical season in this area of Michigan. Typical marketing time is less than 90 days during peak 

season in Michigan and for appropriate priced homes. 

Researching SWMRIC the local MLS within the market area and additional data sources which are considered acceptable to 

appraisal peers within the marketing area going back 1 year from the effective date of this report and comparing Median price of 

the year prior it was determined that the Median price is stable at present. 

This appraiser researched the local MLS within the neighborhood and market area. Analyzed all sales and all active listings 

within that past 12 months. 

It appears that there is a balance in supply of homes in the area at present. 65 sales have occurred 

within the past 12 months indicating an absorption rate of 5.42. There are currently 30 active listings on the market. Utilizing 

this data it would require approximately 5.54 months for the market to absorb the existing inventory. 

Zoning 

Reporting of zoning compliance is intended only in the most general sense. Tax information was collected from the tax records 

posted online which is considered a reliable source. The scope of the appraisal assignment does not include a comparison of 

all significant characteristics of property's site and improvements relative to zoning or local building ordinances. Subject 

property is a single family residence and is zoned for single family use. 

By “Legally Conforming,” the appraiser comments in a 

broad sense that the property is considered in compliance with the local zoning ordinance. 

An exhaustive search and 

comparison of all property characteristics was not conducted in regards to local zoning code. 

FEMA Special Hazard Area 

The delineation of the FEMA Flood Zone is for the benefit of the client only. The appraiser in not an expert in flood elevations 

and is not a surveyor. The exact flood elevation should be determined by a competent and qualified flood surveyor. 

- 

Site 

The subject is serviced by well water and septic system for sewage. 

Both are typical for the subject neighborhood. No 

marketing problems anticipated due to the subject well and or septic system. 

Public well and septic were not available to the 

subject as of the effective date of appraisal. 

All comparable sales have similar utility. Comparable 4 the listing has public 

utilities. 

No impact on value. 

Adverse Site Conditions or External Factors 

. 

This appraisal report does not represent a legal opinion as to the title of the property and/or the boundaries, easements 

(recorded/unrecorded), encroachments or encumbrances associated with the subject property. 

If the lender/client has concerns 

regarding easements, encroachments, setbacks, boundaries, lot dimensions, or other survey matters it is recommended that a 

professional surveyor be consulted. 

: 

Improvements - Additional Features 

Two story foyer with ceiling fan. Ceiling fan in the living room and dining area. Island with snack bar, granite counter tops, tile 

back splash, and stainless appliances in the kitchen. Ceiling fan in bedrooms. 

Granite vanity tops. Primary bedroom suite with 

full bath and walk in closet. 

Conditions of Improvements 

. 

Statements regarding condition, particularly those regarding mechanical equipment, electrical, roof, foundation, etc., are based 

solely on surface observation and fall only within the appraiser's limited expertise. The routine observation of the property and 

any improvements is for the purposes of forming an opinion of market value of the property. The appraisal inspection should be 

considered more of an observation rather than a home inspection since the appraisal inspection is not intended to reveal 

defects in mechanical systems, structural integrity, roofing, siding, foundation integrity, presence of mold, electrical 

issues/hazards, plumbing issues/hazards, or any other issue outside of the appraiser's expertise or scope of the appraisal 

assignment. 

If the borrower has concerns with any of the above mentioned items or unmentioned, it is this appraiser's opinion 

that an expert in the relative field, and/or home inspector should be contracted or consulted. 

It should be noted that the 

appraiser has noted any and/or all observable physical deficiencies and has detailed them in the report (if applicable) which fall 

within the appraiser's expertise. 

It should also be noted that the appraiser is not an expert in regards (but not limited) to roof 

condition, basement/foundation condition, structural integrity of the property, drainage adequacy, radon issues, mechanical 

problems, electrical issues, mold issues/conditions. 

No personal property is included in the valuation process of this residence (ie. non-fixed appliances, hot tubs not built-in, etc.). 

7 

pa 

~ 

ARS: 

Signature 

Ann] 

pa 

- 

Signature 

Name Terry 

W Van Di 

A 

Name 

TT 

TT 

Date Signed 

05/13/2025 

_ 

DateSigned 

___ 

State Certfcation # 

1204068946 

State Certfcation # 

State 

_ 

Or State License # 

Or State License # 

State 

Form TADD2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Supplemental Addendum 

File No. 12343 

Borrower 

NA 

Property Address 

7143 Maple Ave_ 

— 

~ 

- 

Cy 

_ 

South Haven 

County Allegan 

State 

mI 

Zip Code 49090 

Lender/Clint __Bill Sullivan 

The utilities were on and appeared to be in working order at the time of inspection. 

All mechanical systems are assumed to be 

in no less than operable condition. 

The interior of the shed was not observed. 

It's an extraordinary assumption, based on the observation of the dwelling and 

property, that there are no health or safety issues. 

Comparable Search and Results 

. 

| 

The neighborhood, as defined on page 1 and market area was searched for preferably 1.5 or 2 Story homes, with 4 bedroom 

and 2.0 bath (100% above grade), between 1,700 and 2,300 square feet, built near 1978, on approximately 0.33 acres, and with 

association access to Lake Michigan. 

The appraiser has attempted to display comparable sales that closed within the past 90 days, within two miles, bracketing GLA 

and room count, within 20% of the predominate for the neighborhood market, and similar in style of living to the subject. 

All 

available comparables have been reviewed and reconciled. The initial research may result in some properties that were not 

considered best comparable in similarity to the subject property. The search was then expanded to 6 and 12 months and a 

distance of 5, 10, then up to 15 miles to locate suitable sales. The best available similar characteristic comparables were 

chosen to be reconciled and adjusted accordingly. The comparable properties selected are considered the most appropriate 

available and most comparable, therefore included and reconciled within this appraisal report. 

All adjustments made for 

comparable dissimilarities are market derived according to FNMA guidelines. Comparable adjustments are made as warranted 

when market research deems verifiable, justifiable and credible. 

URAR : Sales Comparison - Summary 

All comparables are in the subject neighborhood, market area, and or possible similar competing areas. The comparables 

utilized were the most recent and most similar in design style, functional utility, age, condition, and site within the subject 

neighborhood, market area, and possible similar competing areas. 

These sales were utilized due to the limited and or lack of other available comparables that have occurred within the area within 

a more recent time frame. The sales utilized were the most recent and most similar and other amenities that were available. 

It 

is the opinion of this appraiser that the sales utilized are considered to be the most appropriate comparable sales available, at 

present, and were selected from the same neighborhood and are representations of the subject. Comparable search and 

results is reported above. 

The distance between the subject and comparables is due to the lower density and the lack of comparable sales that have 

occurred within the immediate area within a reasonable time. Some comparables are located in different towns and on opposite 

sides of major roadways and water ways but are considered to be within the subject market or possible similar competing area. 

No adjustment for these locations. This was all taken into consideration in the final reconciliation. 

Actual sale price and adjusted sale price range is greater then desired, greater than 20% of opinion of value, due to the lack of 

available comparables. Appraiser accounted for all property characteristics that may warrant an adjustment. The comparables 

utilized in this report are the most recent, best, and most appropriate that are available. 

All adjustments accounted were 

accounted for all material differences, including but not limited to location, site, view, quality, and condition. 

Concessions were adjusted at a dollar for dollar amount. 

This is typical for the market. 

Researching the local MLS within the market area and additional data sources which are considered acceptable to appraisal 

peers within the marketing area going back 1 year from the effective date of this report and comparing Median price of the year 

prior it was determined that the Median price is stable at present. No market time adjustments warranted. 

All comparables are overall similar in location with similar views. 

All have access to Lake Michigan. The subject has a view of a 

creek. Appraiser was unable to extract an adjustment for this difference. Therefore no adjustment was made. This was taken 

into consideration in the final reconciliation. 

No adjustment for site as all are overall similar in utility and appeal. 

Site was taken into consideration in the final reconciliation. 

Appraiser attempted to locate comparables similar in design style. Appraiser was unable to extract an adjustment for the 

differences. Therefore no adjustment was made. This was taken into consideration in the final reconciliation. 

Typically design 

style is not as much of a factor with lake access properties. 

All comparables are similar in quality of construction and condition. 

No adjustment for age due to the minimal percentage of the total value. Due to lack of comparables the range is greater than 

desired and not bracketed. This was all taken into consideration in the final reconciliation. 

Appraiser attempted to locate comparables with the same and or similar functional utility, bedroom and bathroom count, GLA, 

and lower level foundation style. 

There are across the board adjustments for bedroom count, except Comparable 4 the listing. The subject is not considered to 

be over improved or under improved. The adjustments were based on historical research data and the typical buyers market 

reaction. Due to the limited and lack of available comparables it was necessary to utilize the sales provided and make the 

appropriate market driven adjustments accordingly. 

Due to the lack of available comparables the range of GLA is greater than desired. Due to the limited and lack of available 

comparables it was necessary to use the sales provided and make the appropriate market driven adjustments accordingly. 

No adjustment for HVAC, my fireplace/shed due to the minimal percentage of the total value. This was all 

Signature 

_ 

An 

Signature 

Name Terry W Van Dis 

/ 

Name 

Date Signed 

05/13/2025 

Date Signed 

State Certification # 

1204068946 

Or State License # 

rn 

£ 3 

EN 

State Certification # 

Or State License # 

Form TADD2 - "TOTAL" appraisal software by a la mode, Inc. - 1-800-ALAMODE

Supplemental Addendum 

File No. 12343 

|Bomower 

NA 

Property Address 

7143 Maple Ave 

City 

South Haven 

Lender/Client __ Bill Sullivan 

taken into consideration in the final reconciliation. 

Comparable 2 Line and Net adjustments exceed 10% and 15% due to the adjustment for GLA. 

Adjustments were based on researching the local MLS, conversations with local assessor, local real estate professionals, 

market participants, knowledge of the area, paired sales analysis, and typical buyer's and seller's market reaction to these 

amenities. 

Appraiser attempted to locate comparables that bracket actual sale price, adjusted sale price, site, age, bedroom and bathroom 

count, GLA, lower level foundation, porches, decks, patio, outbuilding(s), fireplace(s), etc. Due to the lack of available 

comparables it was determined necessary to use the sales provided and make the appropriate, market driven, adjustments 

accordingly. 

All comparables used were given consideration in the reconciliation of value in this report. Age, condition, GLA, location, etc. 

were all taken into consideration. 

All served as a basis for establishing comparative market value. The final reconciliation of 

value was determined by the principle of substitution. Comparable 1 and 3 were given the most weight. Comparable 1 based 

on site, bathroom count, GLA, and having a lower percentage of net and gross adjustments. Comparable 3 based on design 

style, GLA, no garage, and having a lower percentage on net and gross adjustments. Comparable 2 was given the least weight 

based on site, GLA, and having a greater percentage of net and gross adjustments. Giving consideration to the available 

comparables that have been provided in this appraisal report, the cost approach, and the listing, the appraised value of 

$570,000 is warranted and supported. 

It is important to note that, while not ideal, these comparables are considered the most appropriate available at this time, given 

the consideration of the location, age, size, design style, bedroom count, condition, site size, functional utility, quality of the 

subject property, and the overall market appeal. 

. 

Signature 

__ 

Name Terry W Van Dis 

/ 

Name 

oo 

Dale Signed 

05/13/2025 

TTT 

patesigned 

= 

State Certfcalion # 

1204068946 

i 

“Swe MIL 

State Certification 

# 

- 

Or State License # 

State 

Or State License # 

- 

Form TADD2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Land Sales 

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

Lender/Client__Bil Sullivan 

Grongle 

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

Building Sketch (Page - 1) 

Bomower 

NA 

oo 

oo 

oo 

Property Address 

7143 Maple Ave 

. 

—— 

—— 

. 

City 

"South Haven 

County Allegan 

Ste 

Mi 

Zip Cod 

Lender/Client 

Bill Suilivan 

Uncovered Deck 

[84.6 Sq ft] 

12.3 

33.9' 

% ptorage Shed 

. 

o 

[113.81 Sq ft] 

® 

Uncovered Deck 

~ 

[356.64 Sq ft] 

soa 

1.8] 

2.4' 

BB 

83 

 @ 

~ 

1.5 

Dining 

10 

Area 

Living 

© 

Room 

~ 

10" 

Kitchen 

Family Room 

[8 

First Floor 

2 

Foyer 

h 

8 

[1258.41 Sq ft] 

= 

N 

Uncovered Patio 

3 

[340 Sq ft] 

Bath 

io 

Bedroom 

3 

14.3 

] 

Laundry 

@ 

9 

a 

20 

2 

Covered Entry 

[30.04 Sq it] 

a3 

Bg 

2 | uncovered Deck 

[127.87 Sq ft] 

16.5" 

11’ 

12.3’ 

Primary 

wu 

wic 

Bedroom 

o 

Bath 

N 

Second Floor 

Second Floor 

w 

No 

[350.46 Sq ft] 

[355.3 Sq ft] 

IN 

I 

id 

t 

1 

Bedroom 

Bedroom 

143 

TOTAL Sketch by af mode 

Form SKT.BLDSKI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Building Sketch (Page - 2) 

| Borrower 

* 

NA 

[Property Address _ 7143 Maple Ave 

City. 

South Haven 

Lender/Client __ Bill Sullivan 

TOTAL Sketzh by ala mode 

Hi 23x 242 

29% 182 

12.0% 0.1 

i 

4x142 

= 

57 

First Floor 

1258.4 Sq ft 

Second Floor 

350.55q ft 

143x112 

73x11 

= 3553 

Second Floor 

35535q ft 

23x11 

1964 Sq ft 

35x86 

= 

30 

Covered Entry 

30Sqft 

Uncovered Deck 

356.6 Sq ft 

7.8% 224 

98x 115 

99x42 

0.5% 9.9 x 5. 

Uncovered Deck 

84.65q ft 

121%6 

=n 

05x36x36= 

63 

05x36x36= 

63 

Storage Shed 

113.859 ft 

99x82 

= 

818 

8x4 

= 

x 

Uncovered Deck 

127.95q ft 

65x78 

= 1229 

Uncovered Patio 

3905q ft 

14x10 

= 

140 

20% 10 

= 

200 

Gazebo 

121.259 

5x35 

= 

177 

05%35x35= 

62 

05x35x35 = 

62 

121x5 

= 

60.7 

5x35 

= 

17.7 

0.5%3.5%35 

62 

05x35x35= 

62 

Form SKT.BLDSKI - "TOTAL" appraisal software by a la mode, 

inc. - 1-800-ALAMODE

Subject Photo Page 

(Bomower 

NA 

- 

— 

~ 

SN 

Property Address 

7143 Maple Ave 

— 

~ 

- 

City 

South Haven 

_. 

_. 

Louty Allegan 

Stale 

MI_____ 

ZipCode 49090 

__ 

Lender/Client 

Bill Sullivan 

Front 

7143 Maple Ave 

Sales Price 

0 

Gross Living Area 

~~ 1,964 

Total Rooms 

7 

Total Bedrooms 

4 

Total Bathrooms 

Location 

View 

Site 

Quality 

Age 

Rear 

Street 

Form PICPIX.SR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Subject Photo Page 

Borrower _ 

NA 

J 

Property Address 

7143 Maple Ave 

i. 

City 

South Haven 

_._ County Allegan 

Lender/Client 

Bill Sullivan 

Form PICPIX.SR - "TOTAL" appraisal software by a la mode, inc. 

7143 Maple Ave 

Sales Price 

Gross Living Area 

Total Rooms 

Total Bedrooms 

Total Bathrooms 

Location 

View 

Site 

Quality 

Age 

. - 1-800-ALAMODE 

20 

B;Res;LkAcss 

N;Res;Creek 

15006 sf 

Good 

47 

Street

Subject Photo Page 

Borrower 

NA 

~ 

_ 

i. 

Property Address 

7143 Maple Ave 

_ 

- 

City 

South Haven’ 

County Allegan 

~ 

Lender/Client 

Bill Sullivan 

House Number 

7143 Maple Ave 

Sales Price 

0 

Gross Living Area 

1,964 

Total Rooms 

7 

Total Bedrooms 

4 

Total Bathrooms ~~ 2.0 

Location 

B;Res;LkAcss 

Vigw 

N;Res;Creek 

Site 

15006 sf 

Quality 

Good 

Age 

47 

View Across the Street 

View to the Rear 

Form PICPIX.SR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Subject Photo Page 

Borrower 

NA 

_ 

—-. 

— 

_ 

Property Address 

7143 Maple Ave 

— 

— 

City 

South Haven 

County Allegan 

State 

MI 

Lender/Client 

Bill Sullivan 

Form PICPIX.SR - "TOTAL" appraisal software by ala mode, inc. 

7143 Maple Ave 

Sales Price 

Gross Living Area 

Total Rooms 

Total Bedrooms 

Total Bathrooms 

Location 

View 

Site 

Quality 

Age 

0 

1,964 

7 

4 

20 

B;Res;LkAcss 

N;Res;Creek 

15006 sf 

Good 

47 

Shed Front & Side 

Shed Rear & Side 

. - 1-800-ALAMODE

Subject Photo Page 

Borrower 

NA 

el 

- 

| Property Address 

_ 7143 Maple Ave 

- 

~ 

—— 

City 

South Haven 

oo 

State 

MI 

Zip Code 

49090. _ 

Lender/Client 

Bill Sullivan 

Creek View 

7143 Maple Ave 

Sales Price 

0 

Gross Living Area 

1,964 

Total Rooms 

7 

Total Bedrooms 

4 

Total Bathrooms 

2.0 

Location 

B;Res;LkAcss 

View 

;Res;Creek 

Site 

15008 sf 

Quality 

Good 

Age 

47 

Creek View 

Creek View 

Form PICPIX.SR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Subject Interior Photo Page 

Bomower 

NA 

- 

SE 

7143 Maple Ave 

_ 

_ 

— 

Foyer 

7143 Maple Ave 

Sales Price 

0 

* 

Gross Living Area 

1,964 

Total Rooms 

7 

Total Bedrooms 

~~ 

4 

Total Bathrooms ~~ 2.0 

Location 

B;Res;LkAcss 

View 

N;Res;Creek 

Site 

15006 sf 

Quality 

Good 

Age 

47 

Living Room 

Dining Area 

Form PICPIX.SI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Subject Interior Photo Page 

Borrower _ 

NA 

— 

SR 

S— 

| Property Address 

7143 Maple Ave 

- 

SE 

— 

- 

— 

cy 

South Haven 

_ 

County Allegan 

State 

MI 

Zip Code 

4909 

Lender/Client 

Bill Sullivan 

: 

Kitchen 

7143 Maple Ave 

Sales Price 

0 

Gross Living Area 

1,964 

Total Rooms 

7 

Total Bedrooms 

4 

Total Bathrooms ~~ 2.0 

Location 

B;Res;LkAcss 

View 

N;Res;Creek 

Site 

15006 sf 

Quality 

Good 

Age 

47 

Family Room 

Bedroom 

Form PICPIX.SI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Subject Interior Photo Page 

Borrower 

NA 

iB 

Property Address 

7143 Maple Ave 

oo. 

So 

Clty 

South Haven 

State mI 

ZipCode 

49090 

Lender/Client 

Bill Sullivan 

Full Bath 

7143 Maple Ave 

Sales Price 

0 

Gross Living Area 

1,964 

Total Rooms 

7 

Total Bedrooms 

4 

Total Bathrooms ~~ 2.0 

Location 

B;Res;LkAcss 

View 

N;Res;Creek 

Site 

15006 sf 

Quality 

Good 

Age 

47 

Laundry Room 

Form PICPIX.S1 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Subject Interior Photo Page 

Borrower 

NA 

_ 

SR 

S— 

Property Address 

7143 Maple Ave 

i 

oo 

City 

South Haven 

County Allegan. 

State 

MI 

Zip Code 

49090 

_ 

Lendey/Client 

Bill Sullivan 

Bedroom 

7143 Maple Ave 

Sales Price 

0 

Gross Living Area 

1,964 

Total Rooms 

7 

Total Bedrooms 

4 

Total Bathrooms ~~ 2.0 

Location 

B;Res;LkAcss 

View 

: 

N;Res;Creek 

Site 

15006 sf 

Quality 

Good 

Age 

47 

Primary Bedroom 

Primary Full Bath 

Form PICPIX.SI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Comparable Photo Page 

Borrower 

NA 

es 

— 

Property Address _ 7143 Maple Ave 

i 

ee 

BN 

City 

South Haven 

County Allegan 

Ste MI 

Zip Code 49090 

Lender/Client 

Bill Sullivan 

Comparable 

1 

1448 71st St 

Prox. to Subject 

1.25 miles N 

Sale Price 

550,000 

Gross Living Area 

1,601 

Total Rooms 

6 

Total Bedrooms 

2 

Total Bathrooms ~~ 2.0 

Location 

B;Res;LkAcss 

View 

N;Res; 

Site 

22521 sf 

Quality 

Good 

Age 

75 

Comparable 2 

1224 Ash Dr 

Prox. to Subject 

0.13 miles NW 

Sale Price 

572,375 

Gross Living Area ~~ 3,171 

Total Rooms 

10 

Total Bedrooms 

5 

Total Bathrooms ~~ 2.1 

Location 

B;Res;LkAcss 

View 

N;Res; 

Site 

© 

25700 sf 

Quality 

Good 

Age 

47 

Comparable 3 

79994 Ramblewood Dr 

Prox. to Subject 

14.17 miles SW 

Sale Price 

595,000 

Gross Living Area. 

1,626 

Total Rooms 

~~ 

5 

Total Bedrooms 

3 

Total Bathrooms 

2.1 

Location 

BiRes;LkAcss 

View 

N;Res; 

Site 

3091 sf 

Quality 

Good 

Age 

94 

Form PICPIX.CR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Comparable Photo Page 

Borower 

NA 

j 

_ 

oe 

— 

| Property Address 

7143 Maple Ave 

. 

~ 

~ 

~ 

City. 

SouthHaven 

__ 

— 

County Allegan 

__ 

___ ZipCode 49090 

Lender/Client 

Bill Sullivan 

Comparable 4 

35 3rd St 

Prox. to Subject 

8.65 miles S 

Sale Price 

649,000 

Gross Living Area 

1,649 

Total Rooms 

8 

Total Bedrooms 

4 

Total Bathrooms 

21 

Location 

© 

BiRes|LkAcs 

View 

N;Res; 

Site 

6250 sf 

Quality 

Good 

Age 

16 

Prox. to Subject 

Sale Price 

Gross Living Area 

Total Rooms 

Total Bedrooms 

Total Bathrooms 

Location 

View 

Site 

Quality 

Age 

Prox. to Subject 

Sale Price 

Gross Living Area 

Total Rooms. 

Total Bedrooms 

Total Bathrooms 

Location 

View 

Site 

Quality 

Age 

Form PICPIX.CR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Bomower 

NA 

Location Map 

Property Address 

7143 Maple Ave 

City 

South Haven 

County_Aliegan 

: 

Stel 

Zp Code 49090 

Lender/Client 

Bill Sullivan 

Form MAP.LOG - "TOTAL" appraisal software by a a mode, inc. - 1-800-ALAMODE

License 

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

E&O Policy 

DECLARSEROSH 

REAL ESTATE APPRAISERS 

BRRORS& OMISSIONS INSURANCE POLICY 

THIS 1S BOTH A‘CLAIMS MADE AND-REPORTED INSURANCE 

POLICY, 

“FHIS: POLICY APPLIES TO THOSE'.CLAIMS THAT ARE FIRST MADE AGAINST THE INSURED 

AND REPORTED IN WRITING TO. THE, COMPANY DURING THE POLICY PERIOD: 

Insurance 

is afforded by, the company indicated below: (Acapiial siock corporation) 

Great Ameria Assurance 

Conipainy 

Notes The Tnsueanice Company, séleetetl sbovershall herein 

bi rafiérredl to;0s the Company. 

Policy Number: RAPAIB065:25 

Renowifof; 

RAPALIBOGS:24 

Program Administrators 

Herbert 

BH, Landy lisimnce Agency Toe, 

100 RiverRidge Drive; Shite 301 Noiwood, MA 02062. 

Tom I. Numed Tosured; 

Terry Van Dig 

Tesi 

2. Address: 

610'N; Maple Street 

Cilly, Ste, Zip Code; 

~~ Staisgituck, MI49453 

Iii 3: Policy Periods Fron 

{zante 

0221/2026 

(Month; 

Day, Year] 

Day, Tour] 

(Both dateyat | i! aan. Stondard Time at the’ Sadia ‘ofthe Named Insured 95 stated in Hom 2.) 

Tem 

4: Limits-of ‘Linbility 

Ao 

1000000 

Damages Limitof Liibifiy = Back Claim 

JOO; 

Claim Expenses init of Liability ~ Each Claim 

_ 

Diamiagies Litit ol 

1 

= Policy: Augrepte 

Dis 

LOWI00 

pin Expenses Lirit of Liability - Policy Aggregits: 

Jtem:§, Deductible (inclusive of Claim Expenses): 

A 5.000 

Bach Clin 

BS 

000 

Aegreste 

Itorii6. Premium:d 

708.00 

Tem 7. Refronctive 

Bite (if applicable): 

03/297007 

Ieeiii 

8: Forms, Noficey and Endorsénients attached: 

D42100°(03/15) D423003 IMIO5/3) T7324 (07120) 

D42402.(05/13) D42412.(03/17) ‘DA2413 (06/17) 142414 (08719) 

Authorized Representative: 

D201 {03418) 

Pige bof 1 

Form SCNLGL - "TOTAL" appraisal software by a la mod, inc. - 1-800-ALAMODE

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