Final Appeal Documents 2963 Brynmawr_merge.pdf

Franco H Alvarez Petitioner V City Of Portage Respondent · 26-002770-TT

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Page 1

PETITIONER’S STATEMENT OF VALUE & MARKET EVIDENCE

Petitioner: Franco Alvarez & Lauren Alvarez

Respondent: City of Portage, Kalamazoo County, MI

Subject Property: 2963 Brynmawr Dr, Portage, MI 49024

Parcel ID: 39-10-09425-013-O

Tax Year Under Appeal: 2026

I. EXECUTIVE SUMMARY & CONTESTED VALUE

The Petitioners timely protested the 2026 assessment to the City of Portage March Board

of Review. The City’s 2026 Valuation Report establishes an Estimated True Cash Value

(TCV) of $498,730 (Assessed Value $249,400).

Under Michigan law (MCL 211.27), True Cash Value is defined as the usual selling price in

an open market. The City’s assessment substantially overvalues the subject property

relative to its recent arm’s-length purchase price, independent market appraisal, and

severe latent structural defects uncovered post purchase.

Petitioners respectfully request that the Michigan Tax Tribunal adjust the 2026 True Cash

Value to $365,000 (Assessed/Taxable Value of $182,500).

II. ARMS-LENGTH PURCHASE & INDEPENDENT APPRAISAL BASELINE

1. Recent Arm's-Length Purchase: The subject property was purchased on September 29,

2025, for $365,000 in an open-market, arm’s-length transaction. Under MCL 211.27, a

recent arm’s-length sale provides direct, compelling evidence of market value.

2. Independent Appraisal Baseline: An independent market valuation conducted by Acura

Valuation, Inc. (Brandon S. Rausch, State Cert. #1205073659) established an indicated

market value of $395,000, strictly conditioned upon a mandatory $29,150 full roof and

skylight replacement. Deducting the mandatory structural roof repair cost yields an "as-is"

market value baseline of $365,850 at the time of valuation.

Page 2

3. Because both the arm's-length sale ($365,000 on 09/29/2025) and appraisal occurred

within 90 days prior to the December 31, 2025 tax date, they reflect exact market

conditions as of Tax Day.

III. PHYSICAL REDUCTION IN PROPERTY AMENITIES (DECK DEMOLITION)

The City of Portage 2026 Valuation Report explicitly taxes the subject property for a

493/504 sq. ft. treated wood deck (Depreciated Value ~$5,580).

* Status: Due to severe grading and slope failures diverting rainwater directly into the

foundation wall, this deck has been completely demolished and removed from the

premises.

* Valuation Impact: The complete removal of this amenity constitutes a physical reduction

in taxable property characteristics, requiring an immediate downward adjustment to the

property’s record card and assessed value.

IV. LATENT STRUCTURAL DEFECTS & UNCOVERED REPAIR COSTS

Following the demolition of the deck and subsequent home inspection exposure, severe

structural failures were uncovered that depress the property’s fair market value below

neighborhood standards:

1. Systemic Gutter & Exterior Siding Failure: Ineffective gutter overspills have rotted the

fascia and siding, requiring complete replacement of the siding ($67,990 quote) and

windows ($36,740 quote). The attached contractor bids (Exhibit F) represent unperformed,

required cost-to-cure repairs for latent defects existing prior to Tax Day (December 31,

2025). These necessary structural restorations reflect real-world capital requirements that

directly reduce the market value of the property.

2. Rim Joist & Sill Plate Framing Decay: Removal of the rear deck exposed severe, hidden

water rot at the rear exit door, requiring advanced structural carpentry to cut out and

rebuild the compromised sill plate and rim joist.

2. Chimney Leak & Subfloor Rot: Active water infiltration originating at the chimney stack

penetrated the envelope, rotting out sections of the interior subfloor that required

complete structural removal and replacement.

4. Hazardous Trees: Multiple dead trees encroaching directly on the roof structure pose an

imminent safety hazard requiring professional removal.

Page 3

V. COMPARABLE NEIGHBORHOOD SALES ANALYSIS 

A review of recent sales in "The Woods" subdivision (Neighborhood 2SF02) confirms that 

higher-priced sales reflect homes with superior condition, modern updates, and intact 

amenities: 

* 3096 Brynmawr Dr ($431,500 | Jun 2025): 3,464 sq. ft. (580 sq. ft. larger; superior 

condition). 

* 3197 Brynmawr Dr ($419,000 | Dec 2024): Similar size, no major structural rot or deck 

removal issues. 

* 3231 Brynmawr Dr ($525,000 | Jul 2025): Fully updated condition. 

 

VI. CONCLUSION & REQUESTED RELIEF 

The City's $498,730 TCV relies on a blanket cost approach model that assumes a 

functional deck and standard condition. Considering the $365,000 arm’s-length purchase 

price, the removal of the deck amenity, and over $100,000 in documented deferred 

maintenance and structural framing repairs, Petitioners request that the True Cash Value 

be set at $365,000. 

 

--- 

INDEX OF ATTACHED EXHIBITS 

 

Page 5 

Exhibit A: 2026 City of Portage March Board of Review Decision Notice 

Page 6 

Exhibit B: Closing Disclosure / Settlement Statement (Purchase Price: $365,000) 

Pages 7-51 

Exhibit C: Independent Appraisal Report (Acura Valuation, Inc.: Appraisal Value: $395,000; 

see page 2 for Valuation Summary and page 4 for Comparable Sales Grid) Pages 7-51 

Pages 52-55 

Exhibit D: City of Portage 2026 Property Record Card & Valuation Report (Deck Highlighted)

Page 4

Pages 56-67 

Exhibit E: Certified Inspection Report Excerpts (Chimney Leaks, Subfloor, & Siding Rot) 

Pages 68-77 

Exhibit F: Contractor Invoices, Estimates, & Material Receipts (Roof, Siding, Windows) 

Pages 78-79 

Exhibit G: Captioned Photographic Evidence Portfolio (Deck Demolition, Rim Joist Rot, 

Subfloor Repairs)

Page 5

5

Exhibit A: 2026 City of Portage March Board of Review Decision Notice

Page 6

6

Exhibit B: Closing Disclosure / Settlement Statement, Purchase Price $365,000

Page 7

City

State

Zip Code

Property Address

County

Legal Description

Tax Year

Assessor's Parcel #

R.E. Taxes $

Special Assessments $

Census Tract

Map Reference

Leasehold

Fee Simple

Property Rights Appraised

Owner

Tenant

Vacant

Occupant

Owner of Public Record

Borrower

HOA $

PUD

Neighborhood Name

Refinance Transaction

Purchase Transaction

Assignment Type

Uniform Residential Appraisal Report

File #

per month

per year

Other (describe)

Yes

Is the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal?

Report data source(s) used, offering price(s), and date(s).

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

Yes

Is the property seller the owner of public record?

Date of Contract

Contract Price $

Yes

Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower?

If Yes, report the total dollar amount and describe the items to be paid.

One-Unit Housing

PRICE

AGE

(yrs)

$(000)

Low

High

Pred.

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

Stable

Property Values

Increasing

Declining

Rural

Urban

Suburban

Location

Built-Up

Demand/Supply

Over Supply

Under 25%

In Balance

Shortage

25-75%

Over 75%

Under 3 mths

3-6 mths

Over 6 mths

Marketing Time

Stable

Slow

Rapid

Growth

Neighborhood Boundaries

Neighborhood Description

Area

View

Shape

Dimensions

Zoning Description

Specific Zoning Classification

No Zoning

Zoning Compliance

Legal

Legal Nonconforming (Grandfathered Use)

Illegal (describe)

Yes

Is the highest and best use of subject property as improved (or as proposed per plans and specifications) the present use?

No If No, describe.

Off-site Improvements-Type

Public Other (describe)

Private

Public Other (describe)

Utilities

Water

Street

Electricity

Alley

Sanitary Sewer

Gas

Yes

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

No If No, describe.

Yes

Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)?

No If Yes, describe.

Public

Yes

FEMA Special Flood Hazard Area

FEMA Flood Zone

FEMA Map #

FEMA Map Date

One with Accessory Unit

One

Units

# of Stories

Det.

Att.

Type

Existing

Proposed

Under Const.

Design (Style)

Year Built

Effective Age (Yrs)

S-Det./End Unit

General Description

Crawl Space

Concrete Slab

Partial Basement

Full Basement

Basement Area

sq. ft.

Basement Finish

Sump Pump

Outside Entry/Exit

Infestation

Evidence of

Settlement

Dampness

Foundation

Foundation Walls

Exterior Walls

Roof Surface

Gutters & Downspouts

Window Type

Storm Sash/Insulated

Screens

Floors

Walls

Trim/Finish

Bath Floor

Bath Wainscot

Exterior Description materials/condition

Interior materials/condition

Attic

Drop Stair

Floor

Finished

None

Stairs

Scuttle

Heated

Heating

FWA

Other

Cooling

Individual

Central Air Conditioning

Fuel

HWBB

Radiant

Amenities

Fireplace(s) #

Patio/Deck

Pool

WoodStove(s) #

Fence

Porch

Other

Garage

Carport

Att.

# of Cars

Det

Built-in

Additional features (special energy efficient items, etc.)

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

Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property?

Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)?

Yes

No If No, describe

Page 1 of 6

Fannie Mae Form 1004 March 2005

Other

The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property.

Address

Lender/Client

did

Data Source(s)

One-Unit Housing Trends

Neighborhood Characteristics

Market Conditions (including support for the above conclusions)

Driveway Surface

Driveway

# of Cars

Car Storage

None

Finished area above grade contains:

Rooms

Bedrooms

Bath(s)

Square Feet of Gross Living Area Above Grade

Appliances

Refrigerator

Range/Oven

Dishwasher

Disposal

Microwave

Washer/Dryer

Other (describe)

Yes

No If Yes, describe

Freddie Mac Form 70 March 2005

Present Land Use %

One-Unit

2-4 Unit

Multi-Family

Commercial

Other

AI Ready

00083712752

20250814-1596-3

UAD Version 9/2011

2963 Brynmawr Dr

Portage

49024

Lauren Alvarez

W James Stone & L K Stone

Kalamazoo

The Woods, Lot 13

10-09425-013-O

2024

7,952

North Portage

28020

0020.03

Huntington National Bank

41 South High Street , Columbus, OH 49091

DOM 32;Pending, 07/29/2025 MichRIC MLS, MLS#25031503, $384,900 Listed, 06/27/2025 MichRIC MLS, MLS#25031503 $400,000.

Arms length sale;Personal property included; Dryer, oven, refrigerator, washer. It is not uncommon to transfer with real estate within this market. No value is attributed to personal

property in this analysis.

365,000

07/28/2025

BS&A Tax Record

$0;;

1,275

151

335

Sunvalley Drive to the north, Romence Rd to the south, S. Westnedge Ave. to the east, 12th Street to the west

The neighborhood is located in the northeast quadrant of Interstate-94 and US-131. Transportation linkages and distances to the local school system and amenities are within two

miles. Oakland Drive, which borders the neighborhood to the east is a primary transportation artery connecting the Cities of Portage, Kalamazoo and Interstate-94. Other land use

consists of green space, parks and waterways.

See attached 1004 MC form.

See attached plat map

20909 sf

Irregular/Cul-De-Sac

N;Res;Woods

R-1C

One-Family Residential District

The highest and best use "as is" is determined to be single-family residential. This use meets the four criteria for highest and best use.

Asphalt/Blacktop

None

26077C0301E

07/31/2024

See attached addenda.

Concrete/Avg.

Wood/See Cmts.

1,429

CompShgl/See Cmts

Aluminum/Avg.

Contemp.

Case,CrkOut/Avg.

1989

Insulated/Avg.

Yes/Avg.

See att. addenda.

DW/Avg.

Wood/Avg.

Tile,Lam/Avg.

Cermc/Fbrgls/Avg.

Natural Gas

None

Concrete/Avg.

3.0

2,884

The subject property features conform to the neighborhood. Common neighborhood features are often limited to porches, patios and/or decks. The subject has a covered entry

porch, screened porch and open wood deck.

C4;No updates in the prior 15 years;See attached addenda.

See attached addenda.

Cv&Scrn

None

0/1

Exhibit C: Independent Appraisal Report

Page 8

S

A

L

E

S

C

O

M

P

A

R

I

S

O

N

A

P

P

R

O

A

C

H

R

E

C

O

N

C

I

L

I

A

T

I

O

N

Analysis of prior sale or transfer history of the subject property and comparable sales

Summary of Sales Comparison Approach

Uniform Residential Appraisal Report

to $

There are

comparable properties currently offered for sale in the subject neighborhood ranging in price from $

to $

comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $

There are

DESCRIPTION

sq.ft.

Address

Proximity to Subject

Sale Price

$

$

Sale Price/Gross Liv. Area

sq.ft.

DESCRIPTION

VALUE ADJUSTMENTS

DESCRIPTION

Sale or Financing

Concessions

Date of Sale/Time

Location

Leasehold/Fee Simple

Site

Design (Style)

Actual Age

Condition

Above Grade

Total

Bdrms. Baths

Room Count

Gross Living Area

sq.ft.

Basement & Finished

Rooms Below Grade

Energy Efficient Items

Garage/Carport

Net Adjustment (Total)

Adjusted Sale Price

of Comparables

COMPARABLE SALE # 1

COMPARABLE SALE # 2

COMPARABLE SALE # 3

FEATURE

SUBJECT

Total

Bdrms.

Baths

sq.ft.

sq.ft.

$

$

$

sq.ft.

$

$

Total

Bdrms. Baths

sq.ft.

$

$

Net Adj.

Gross Adj.

%

%

Net Adj.

Gross Adj.

%

%

+

-

+

-

DESCRIPTION

Total

Bdrms. Baths

sq.ft.

$

$

+ (-) $ Adjustment

+ (-) $ Adjustment

+ (-) $ Adjustment

$

$

+

-

Net Adj.

Gross Adj.

%

$

Data Source(s)

Verification Source(s)

View

Quality of Construction

Functional Utility

Heating/Cooling

Indicated Value by: Sales Comparison Approach $

Cost Approach (if developed) $

Income Approach (if developed) $

This appraisal is made

subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been

subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or

Based on a complete visual inspection of the interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limiting

as of

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

Page 2 of 6

Fannie Mae Form 1004 March 2005

$

"as is,"

completed,

Indicated Value by Sales Comparison Approach $

conditions, and appraiser’s certification, my (our) opinion of the market value, as defined, of the real property that is the subject of this report is

%

Porch/Patio/Deck

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

did

I

did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal.

did

My research

Data source(s)

did not reveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale.

did

My research

Data source(s)

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

COMPARABLE SALE #2

COMPARABLE SALE #1

COMPARABLE SALE #3

SUBJECT

Date of Prior Sale/Transfer

Price of Prior Sale/Transfer

Data Source(s)

Effective Date of Data Source(s)

following required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair:

subject to the

Freddie Mac Form 70 March 2005

ITEM

File #

AI Ready

00083712752

0

0

0

9

325,000

435,000

0.09 miles NW

431,500

124.57

MLS#25024642;DOM 6

Ext. Insp./BS&A Tax Record

ArmLth

Conv;0

s06/25;c06/25

N;Res;

Fee Simple

16553 sf

DT2;Traditional

35

C4

10

5

2.1

3,464

2028sf0sfin

Typical

3ga3dw

1

None



2.4

19.4

0

0

0

+30,000

+4,500

-35,000

-12,000

-10,500

421,000

0.38 miles W

435,000

145.48

MLS#25009444;DOM 65

MLS/TaxRcrd

ArmLth

Conv;6716

s06/25;c05/25

N;Res;

Fee Simple

17860 sf

DT2;Traditional

41

C3

9

5

4.0

2,990

1336sf1300sfin

1rr1br1.0ba0o

Typical

3ga3dw

1

None



15.5

16.4

-6,500

0

0

0

-25,000

-12,000

0

-26,000

0

-67,500

367,500

1.32 miles S

325,000

141.06

MLS#25011679;DOM 4

MLS/TaxRcrd

ArmLth

Conv;10269

s05/25;c03/25

N;Res;

Fee Simple

12197 sf

DT2;Traditional

47

C4

8

4

2.1

2,304

1224sf0sfwo

Typical

2ga2dw

1

None



22.6

29.1

-10,500

+8,500

0

0

+30,000

+4,500

+35,000

+4,000

0

73,500

398,500

N;Res;Woods

N;Res;

0

N;Res;

0

Q3

Q3

Q3

Average

Average

Average

FWA/CAC

FWA/CAC

FWA/CAC



CvPh,Dk

+2,000

CvPh,Dk

+2,000

CvPh,Dk

+2,000





Corelogic Records



Corelogic Records

CoreLogic Records

08/07/2025

CoreLogiC Records

08/07/2025

CoreLogic Records

08/07/2025

00083712752

20250814-1596-3

UAD Version 9/2011

2963 Brynmawr Dr

Fireplace(s)

Misc. Items

365,000

126.56

N;Res;

Fee Simple

20909 sf

DT2;Contemp.

36

C4

10

4

3.0

2,884

1429sf0sfin

Typical

3ga3dw

1

None

N;Res;Woods

Q3

Average

FWA/CAC

Cv&ScrnPh,Dk

Corelogic Records

08/05/2025

See attached addenda.

Only the market approach was developed. The Income Approach is considered inapplicable due to the lack of data available, and that properties in the subject's market are typically

purchased for owner occupancy. The Cost Approach is not applicable due to the age of the improvements and difficulty in estimating depreciation.

Roof and skylight replacement.

Portage, MI 49024

3096 Brynmawr Dr

3546 Fleetwood Dr

6544 Cypress St

Portage, MI 49024

Portage, MI 49024

Portage, MI 49024

395,000

395,000

08/05/2025

395,000

8

Page 9

COST APPROACH TO VALUE (not required by Fannie Mae)

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

Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value)

REPLACEMENT COST NEW

REPRODUCTION OR

ESTIMATED

Source of cost data

Effective date of cost data

Quality rating from cost service

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

INCOME APPROACH TO VALUE (not required by Fannie Mae)

Indicated Value by Income Approach

X Gross Rent Multiplier

Estimated Monthly Market Rent $

= $

Summary of Income Approach (including support for market rent and GRM)

PROJECT INFORMATION FOR PUDs (if applicable)

Is the developer/builder in control of the Homeowners' Association (HOA)?

Yes

Legal Name of Project

Provide the following information for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit.

Attached

Detached

Unit type(s)

Total number of units sold

Total number of units

Total number of phases

Data source(s)

Total number of units for sale

Total number of units rented

Yes

No If Yes, date of conversion

Was the project created by the conversion of existing building(s) into a PUD?

No Data source(s)

Yes

Does the project contain any multi-dwelling units?

Are the units, common elements, and recreation facilities complete?

Yes

No If No, describe the status of completion.

Are the common elements leased to or by the Homeowners' Association?

No If Yes, describe the rental terms and options.

Yes

Describe common elements and recreational facilities

Uniform Residential Appraisal Report

Sq. Ft. @ $

Dwelling

OPINION OF SITE VALUE ..............................................................

Sq. Ft. @ $

Garage/Carport

Total Estimate of Cost-New ...............................................................

Less

Physical

Functional

External

Depreciation

=$ (

)

Depreciated Cost of Improvements ...................................................

"As-is" Value of Site Improvements ...................................................

Indicated Value by Cost Approach

..................................................

Estimated Remaining Economic Life (HUD and VA only)

Years

............

File #

Page 3 of 6

Fannie Mae Form 1004 March 2005

Freddie Mac Form 70 March 2005

AI Ready

00083712752

20250814-1596-3

UAD Version 9/2011

Review of recent sales and the extraction method in observed sales.

N/A

65,000

Scope of Work: The scope of work for this appraisal is defined by the complexity of the appraisal assignment and the reporting requirements of this appraisal report form, including

the Definition of Market Value (Page 4), statement of assumptions and limiting conditions, and certifications. The appraiser has at a minimum: performed a complete visual inspection

of the interior and exterior areas of the subject property. Inspected the neighborhood of the subject property. Inspected each of the comparable sales from at least the street.

Researched, verified, and analyzed data from reliable public and/or private sources. Reported his analysis, opinions, and conclusions in this appraisal report.

Appraiser's Certification 2 on page 5 of this report states that the appraiser has performed a "complete visual inspection" of the property. This "complete visual inspection" was

performed within the context of intended use and therefore for the intended user, the Lender/Client listed in the subject section of page 1. Therefore the appraiser's viewing of the

property is for valuation purposes only and is strictly for the following

intended use: assisting the Lender/Client in evaluating the property for a mortgage finance transaction.

The appraiser's viewing of the property was limited to what was readily observable without moving furniture, floor coverings, or personal

property. Unless otherwise stated, the appraiser did not view attics, crawlspaces, or any other area that would require the use of ladders or special equipment.

The appraiser's viewing of the property was limited to surface areas only and can often be compromised by landscaping, placement of personal property, or even weather conditions.

Most importantly, the appraiser's viewing of the property is far different from and much less intensive than the type of inspections performed to discover property defects.

The scope of this assignment is specific to the needs of the Lender/Client as identified in the Subject Section on Page 1 of this report. The

Lender Client is the only intended user. All other parties that choose to rely on this appraisal report should recognize that the assignment results were not developed or reported in a

manner consistent with the needs or uses of parties other than those identified by the intended user, as identified in the Subject Section on Page 1 of this report.

Gross Living Area is calculated using a method developed by the American National Standards Institute, standard (ANSI Z765-2021). Actual measurements are made to the best of

the appraiser's ability during the course of the property inspection, When necessary, dimensions may be confirmed or utilized from existing surveys or public records. The subject

was measured on the effective date and has 2,884 square feet of above-grade living space with a 1,429 square foot below-grade interior-style basement which is unfinished.

The appraiser revisted the subject site and viewed the exterior on 09/08/2025 after reengagement to complete the appraisal subject-to a new roof and skylights utilizing the orginal

effective date as view on 08/05/2025.

The cost approach was not deemed necessary for credible assignment results for this

intended use; therefore it is not developed.

The Income Approach is considered inapplicable due to the lack of data

available, and that properties in the subject's market are typically purchased for owner occupancy.

Page 10

Uniform Residential Appraisal Report

File #

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

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

condominium or cooperative project.

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

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

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

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

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

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

organization, are permitted.

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

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

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

areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4)

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

conclusions in this appraisal report.

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

appraisal for a mortgage finance transaction.

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

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

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 title to it,

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

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

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

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

3. 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 to do so have been made beforehand, or as otherwise required by law.

5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of

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

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

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

repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that would make

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

implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be

required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, this

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

6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory

completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will be performed

in a professional manner.

Page 4 of 6

Fannie Mae Form 1004 March 2005

Freddie Mac Form 70 March 2005

AI Ready

*Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary

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

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

comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the

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

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

appraiser's judgment.

00083712752

20250814-1596-3

UAD Version 9/2011

Page 11

Uniform Residential Appraisal Report

File #

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. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition of the

improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the livability, soundness, or

structural integrity of the property.

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

approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal

assignment. I further certify that I considered the cost and income approaches to value but did not develop them, unless otherwise

indicated in this report.

5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the

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

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

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

8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home that has

been built or will be built on the land.

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

property and the comparable sales.

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

sale or financing of the subject property.

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

12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listing services,

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

13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from reliable

sources that I believe to be true and correct.

14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject property,

and the proximity of the subject property to adverse influences in the development of my opinion of market value. I have noted in this

appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes,

toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property or that I became aware

of during the research involved in performing this appraisal. I 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 knowledge, all statements

and information in this appraisal report are true and correct.

16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject

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

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

personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis

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

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

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

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

any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predetermined specific

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

specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application).

19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied on

significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the preparation of

this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in this appraisal report. I certify that

any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in this appraisal

report; therefore, any change made to this appraisal is unauthorized and I will take no responsibility for it.

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

will receive this appraisal report.

Page 5 of 6

Fannie Mae Form 1004 March 2005

Freddie Mac Form 70 March 2005

AI Ready

00083712752

20250814-1596-3

UAD Version 9/2011

Page 12

APPRAISER

SUPERVISORY APPRAISER (ONLY IF REQUIRED)

Signature

Signature

Name

Name

Company Name

Company Name

Company Address

Company Address

Telephone Number

Telephone Number

Email Address

Date of Signature

Date of Signature and Report

Effective Date of Appraisal

or State License #

State Certification #

State

or State License #

Expiration Date of Certification or License

or Other (describe)

SUBJECT PROPERTY

State

Expiration Date of Certification or License

Did not inspect subject property

ADDRESS OF PROPERTY APPRAISED

Did inspect exterior of subject property from street

Date of Inspection

Did inspect interior and exterior of subject property

APPRAISED VALUE OF SUBJECT PROPERTY $

Date of Inspection

LENDER/CLIENT

COMPARABLE SALES

Name

Company Name

Did not inspect exterior of comparable sales from street

Company Address

Did inspect exterior of comparable sales from street

Email Address

Date of Inspection

State Certification #

Email Address

Uniform Residential Appraisal Report

File #

21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of the borrower; the

mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; other secondary market participants;

data collection or reporting services; professional appraisal organizations; any department, agency, or instrumentality of the United

States; and any state, the District of Columbia, or other jurisdictions; without having to obtain the appraiser's or supervisory appraiser's

(if applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party

(including, but not limited to, the public through advertising, public relations, news, sales, or other media).

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

regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to

disclosure or distribution by me.

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

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

finance transaction that involves any one or more of these parties.

24. If this appraisal report was transmitted as an ''electronic record'' containing my ''electronic signature,'' as those terms are defined in

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

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

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

25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/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 laws.

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

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

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

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

statements, conclusions, and the appraiser's certification.

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

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

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

the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared.

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 appraisal report

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

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

State #

Page 6 of 6

Fannie Mae Form 1004 March 2005

Freddie Mac Form 70 March 2005

AI Ready

,

,

,

,

00083712752

00083712752

20250814-1596-3

UAD Version 9/2011

Brandon S. Rausch

Acura Valuation, Inc.

709 Lodge Lane

(269) 342-6615

brausch@acuravaluation.com

09/11/2025

08/05/2025

1205073659

07/31/2027

395,000

No AMC

Felicia.Watson@huntington.com

Kalamazoo

MI

49009

41 South High Street

Columbus

OH

49091

MI

2963 Brynmawr Dr

Portage

MI

49024

Huntington National Bank

12

Page 13

TEXT ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

49024

Huntington National Bank

20250814-1596-3

Supplemental Addendum

* URAR: Site - Adverse Conditions or External Factors

Utilities are typical for the area and do not prohibit marketability.

Statements regarding zoning compliance are intended in the most general sense. Zoning and building ordinances vary significantly from one

municipality to another and are applied on a case by case basis. The scope of this assignment does not include a detailed analysis of every

characteristic of the subject property's site and improvements relative to current zoning and building ordinances.

The subject is a single unit dwelling located on a site zoned for single unit use. Only in this general sense it is considered to"legally comply" with the

local zoning ordinance. The appraiser has not made a detailed comparison of every property characteristic relative to local zoning and building

ordinances.

While no adverse site conditions or external factors were observed, many site related issues are beyond the scope of this assignment and the

expertise of the appraiser. Unless otherwise noted, standard utility and right-of-way easements are insignificant to the value. However, a current

locational or boundary survey, which was unavailable to the appraiser, may reveal encroachments, easements, zoning violations, or other matters of

interest that could warrant modification of the appraiser's analysis and opinions. This appraisal is not an environmental assessment of the subject

property and should not be relied on as such.

* URAR: Interior Floors

Tile,Lam,Wd,Vinyl,Crpt. At the time of observation, carpeting was soiled and in need of being re-stretched or replaced. It is not considered a market

prohibitor; however, was considered in the overall condition.

* URAR: Subject - Overall Condition of the Property

Based in part on the conditions observed and estimated above. The subject property is considered to be in average condition for its age and quality of

construction. Deferred maintenance was noted at the time of observation involving soiled and stretched carpeting and approximately half of the roof.

Per the sellers disclosure, half of the roof was replaced in 2014. Furthermore, various areas of damage/rotted wood was noted involving areas of the

wood exterior and a hole in the roof of the enclosed porch. The kitchen appears to have been updated at some point in time, likely exceeding 15

years. The furnace/AC were replaced in 2025 and the water heater in 2023. The balance of the finishes appeared orginal. The deferred maintenance

was considered in the overall condition.

Per the Clients assignment condition, the report is to be subject-to replacement of the entire roof and skylights. The Client provided a quote for

replacement detailing the scope of work and equating to $29,650.

* URAR: Improvements - Physical Deficiencies or Adverse Conditions

At the time of viewing, specific signs of infestation, dampness, or settlement were not noticed by the appraiser. However, the appraiser is not an

expert in this area and did not conduct the type of intensive inspection to discover infestation, dampness, or settlement. If concerned, the

Lender/Client is invited to employ the services of an appropriate expert the area of infestation, dampness, and/or settlement.

The reader is directed to Limiting Condition 5 on page 4 of this report to understand the limitations on the appraiser's responsibilities relative to hidden

or unapparent physical deficiencies or adverse conditions of the property. The appraisal should not be relied on as a substitute for a home inspection.

The actual condition of items like foundation walls, exterior walls, and roof surface can be difficult to access. Often, significant portions of these items

can be hidden from view and even under the best conditions the appraiser can only view surface areas. The origin of many problems related to

foundation walls, exterior walls, or roof surfaces are internal and thus hidden from the appraiser's view.

The reader is reminded that Limiting Condition 5 on Page 4 of this report states that the "appraiser has no knowledge of hidden or unapparent

physical deficiencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous

wastes, toxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no

such conditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any such conditions that do

exist or for any engineering testing that might be required to discover whether such conditions exist."

No "Needed Repairs" of significance were noted although it is possible that some may exist, especially if they were not readily visible to the

appraiser. The reader is directed to Limiting Condition 5 on page 4 of this report to understand the limitations on the appraiser's responsibilities

relative to hidden or unapparent physical deficiencies or adverse conditions of the property.

While no physical deficiencies or adverse conditions that affect livability, soundness or structural integrity were noted, such items are often beyond the

expertise of the appraiser. Issues of soundness or structural integrity are often related to areas that are unapparent or hidden from the appraiser's

view. See Limiting Condition 5 on page 4 and appraiser's comments related to "complete visual inspection" at the beginning of this section.

The appraisal should not be relied on as a substitute for a home inspection and the report was not prepared for the benefit of the borrower.

The appraiser is not an expert in other fields such as but not limited to home inspection, building construction, pest control, or structural engineering.

An appraisal is not a substitute for a home inspection or an inspection by a qualified expert in determining issues such as but not limited to foundation

settlement or stability, moisture problems, wood destroying (or other) insects, rodents, or pests. The client is encouraged to employ the services of

appropriate experts to address any areas of concern.

* URAR: Sales Comparison Analysis - Summary of Sales Comparison Approach

Some differences are acknowledged with a "0" adjustment if there is a noted difference and it is considered similar. This is per the appraisers

understanding of the UAD reporting requirements.

To understand these adjustments one must first understand the methodology and principles which exist in performing a sales comparison approach.

The sales comparison approach in a real estate appraisal is based primarily on the principle of substitution. This approach assumes a prudent

individual will pay no more for a property than it would cost to purchase a comparable substitute property. The approach recognizes that a typical

buyer will compare asking prices and seek to purchase the property that meets his or her wants and needs for the lowest cost. In developing the sales

comparison approach, the appraiser attempts to interpret and measure the actions of parties involved in the marketplace, including buyers, sellers,

and investors.

Individual adjustments, regarding all of the adjustments utilized in this report, are not based on mechanically calculated dollar for dollar cost basis.

The dollar amount of all adjustments approximate the markets reaction to the correlating feature or characteristic. These adjustments are made

utilizing paired sales, appraisers observations, interviews with buyers, sellers and real estate agents, consultation with other appraisal professionals,

and any other facts or data related to the real estate market and its idiosyncrasies.

Comparable #1:

A positive adjustment is made for an inferior overall condition related in part to bathrooms, wall coverings and roof. A superior exterior siding is

considered to offset some of the adjustment.

***CONTINUED ON NEXT PAGE***

Page 14

TEXT ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

49024

Huntington National Bank

20250814-1596-3

Comparable #2:

A negative adjustment is made for a superior condition related to the exterior and some areas of flooring. An inferior roof is considered to offset some

of this adjustment.

Comparable #3:

A positive adjustment is made for a inferior overall condition related in part to kitchen bathrooms, flooring, and wall coverings. A superior exterior

siding is considered to offset a portion of the adjustment.

Overall:

Additional adjustments were made and are exhibited on the following adjustment support pages.

* Comparable Summary

Comparables Summary & Estimated Indicated Value

Sale Price Net Adj % Grs Adj % Ind Value Weight

Comp #1: 431,500 2.4 19.4 421,000 35.05

Comp #2: 435,000 15.5 16.4 367,500 37.37

Comp #3: 325,000 22.6 29.1 398,500 27.58

ESTIMATED INDICATED VALUE OF THE SUBJECT: 395,000 SUBJECT TO CLIENT ASSIGNMENT CONDITION TO REPLACE ROOF AND

SKYLIGHTS.

* Indicated Weight Value

Estimated indicated value is determined by using the Gross Adjustment of sale price for each comparable as a measure of the relative quality of the

comp. The Indicated Value is derived by multiplying the weight of each comp by the Adjusted Sale Price of that comp, repeating for each property,

then adding them all together. This weighted average is used as the indicated value of the subject.

As with any method, this technique is not perfect. However, it does do a very good job of giving more weight to the most similar comps while at the

same time minimizing values near the extremes of the indicated value range.

The appraiser weighted the results of the indicated values. The appraiser is aware that the subject's estimated value is above the predominant

neighborhood value. The subject's estimated value is well within the neighborhood range. Marketability is not prohibited.

* USPAP Identification Addendum: Comments on USPAP Reporting Options

As such, it presents only summary discussions of the data, reasoning, and analysis that were used in the appraisal process to develop the opinion of

value. The depth of discussion contained in this report is specific to the needs of the client and for the intended use in the stated report. The appraiser

is not responsible for the unauthorized use of this report. The data contained within this report is the property of the appraiser and is included only to

support the final estimate of value (the Appraisal). No part of this report may be reproduced or processed in any form, or by any means either

electronic or mechanical, including photocopying, and/or information storage and retrieval systems, without written permission from the signing

appraiser(s).

REVISION REQUEST (PREVIOUS APPRAISAL) 08/11/2025:

#1. Please comment on the black substance on the walls in the crawl space.

The observable crawlspace areas appeared typical. The appraiser rereviewed the photograph and the only black in the photograph appears to be a

splatter of a construction material.

#2. There appears to be water/dampness next to the furnace, please comment what was observed. Also, the first photo on page 26 of 47 pages there

appears to be discoloration on floor, is there dampness on basement floor?

The appraiser did not observe any dampness at the time of observation. Multiple areas of discolored/stained concrete was observed. The furnace

was replaced in 2025. Per the listing agent and sellers disclosure, there was water in the basement previously and issues were corrected. Weather

conditions were dry on the effective date.

Furthermore, the appraiser is not an expert in other fields such as but not limited to home inspection, building construction, pest control, or structural

engineering. An appraisal is not a substitute for a home inspection or an inspection by a qualified expert in determining issues such as but not limited

to foundation settlement or stability, moisture problems, wood destroying (or other) insects, rodents, or pests. The client is encouraged to employ the

services of appropriate experts to address any areas of concern.

REVISION REQUEST 09/10/2025:

1) The effective date of the appraisal should be the date that it was viewed on the interior. Adding commentary that you drive by the exterior a

different date because of the roof quote is fine, however the actual reconciliation statement on the bottom of page 2 of the report states inspection of

the interior and exterior.

The report was revised to the orginal effective date of interior/exterior viewing. The appraiser viewed the subject's exterior on 09/08/2025 after

re-engagement. Photographs, adjustment and analysis support has been updated to reflect the condition to utilized the oringal effective date.

Page 15

File No.

Borrower

Property Address

City

County

State

Zip Code

Lender

APPRAISER:

SUPERVISORY APPRAISER: (only if required)

Signature:

Name:

Date Signed:

State Certification #:

or State License #:

State:

Expiration Date of Certification or License:

Signature:

Name:

Date Signed:

State Certification #:

or State License #:

State:

Expiration Date of Certification or License:

Did Not

Additional Certifications

Additional Comments

Exterior-only from Street

Interior and Exterior

Supervisory Appraiser Inspection of Subject Property:

Effective Date of Appraisal:

USPAP 2014

USPAP ADDENDUM

AI Ready

Reasonable Exposure Time

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

I have NOT performed 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.

I HAVE performed services, as an appraiser or in another capacity, regarding the property that is the subject of this report within the three-year

period immediately preceding acceptance of this assignment. Those services are described in the comments below.

Appraisal Report

Restricted Appraisal Report

This report was prepared under the following USPAP reporting option:

This report was prepared in accordance with USPAP Standards Rule 2-2(a).

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

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

or Other (describe)

State #

00083712752

20250814-1596-3

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

49024

Huntington National Bank

-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 Institute.

-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, I have completed the Standards and Ethics Education Requirements of the Appraisal Institute.

-The signing appraiser previously appraised this property in "as-is" condition for the pending sale. The appraiser is reappraising the subject property under several Client

requested assignment conditions; 1. Roof and skylight replacement. The orginal effective date was utilized at the time the appraiser viewed the interior and exterior on the

same date.

In the State of Michigan, appraisers are required to be licensed and are regulated by the Michigan Department of Labor and Economic Growth, P.O. Box 30018, Lansing,

Michigan 48909.

Brandon S. Rausch

09/11/2025

1205073659

07/31/2027

08/05/2025

30 to 45 days

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

— The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, impartial, and unbiased

professional analyses, opinions, and conclusions.

— Unless otherwise indicated, I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the

parties involved.

— I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.

— My engagement in this assignment was not contingent upon developing or reporting predetermined results.

— My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the

cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of

this appraisal.

— My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice

that were in effect at the time this report was prepared.

— Unless otherwise indicated, I have made a personal inspection of the property that is the subject of this report.

— Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification (if there are exceptions, the name of

each individual providing significant real property appraisal assistance is stated elsewhere in this report).

See attached addenda.

00083712752

Page 16

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City

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ZIP Code

Property Address

Borrower

Market Conditions Addendum to the Appraisal Report

File #

Declining

Stable

Increasing

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

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

Are foreclosure sales (REO sales) a factor in the project?

Page 1 of 1

Fannie Mae Form 1004MC March 2009

The purpose of this addendum is to provide the lender/client with a clear and accurate understanding of the market trends and conditions prevalent in the subject neighborhood.

This is a required addendum for all appraisal reports with an effective date on or after April 1, 2009.

Inventory Analysis

Yes

No If yes, indicate the number of REO listings and explain the trends in listings and sales of

Freddie Mac Form 71 March 2009

AI Ready

Instructions: The appraiser must use the information required on this form as the basis for his/her conclusions, and must provide support for those conclusions, regarding housing trends and

overall market conditions as reported in the Neighborhood section of the appraisal report form. The appraiser must fill in all the information to the extent it is available and reliable and must provide

analysis as indicated below. If any required data is unavailable or is considered unreliable, the appraiser must provide an explanation. It is recognized that not all data sources will be able to

provide data for the shaded areas below; if it is available, however, the appraiser must include the data in the analysis. If data sources provide the required information as an average instead of

the median, the appraiser should report the available figure and identify it as an average. Sales and listings must be properties that compete with the subject property, determined by applying the

criteria that would be used by a prospective buyer of the subject property. The appraiser must explain any anomalies in the data, such as seasonal markets, new construction, foreclosures, etc.

A

P

P

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Prior 7–12 Months

Prior 4–6 Months

Current – 3 Months

Overall Trend

Total # of Comparable Sales (Settled)

Absorption Rate (Total Sales/Months)

Total # of Comparable Active Listings

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

Declining

Stable

Increasing

Increasing

Stable

Declining

Increasing

Stable

Declining

Median Sale & List Price, DOM, Sale/List %

Median Comparable Sale Price

Median Comparable Sales Days on Market

Median Comparable List Price

Median Comparable Listings Days on Market

Median Sale Price as % of List Price

Seller-(developer, builder, etc.) paid financial assistance prevalent?

Prior 7–12 Months

Prior 4–6 Months

Current – 3 Months

Overall Trend

Declining

Stable

Increasing

Increasing

Stable

Declining

Declining

Stable

Increasing

Increasing

Stable

Declining

Declining

Stable

Increasing

Increasing

Stable

Declining

Yes

No

Are foreclosure sales (REO sales) a factor in the market?

Yes

No If yes, explain (including the trends in listings and sales of foreclosed properties).

Cite data sources for above information.

Summarize the above information as support for your conclusions in the Neighborhood section of the appraisal report form. If you used any additional information, such as an analysis of

pending sales and/or expired and withdrawn listings, to formulate your conclusions, provide both an explanation and support for your conclusions.

Declining

Stable

Increasing

Subject Project Data

Prior 7–12 Months

Prior 4–6 Months

Current – 3 Months

Overall Trend

Total # of Comparable Sales (Settled)

Absorption Rate (Total Sales/Months)

Total # of Active Comparable Listings

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

Declining

Stable

Increasing

Increasing

Stable

Declining

Increasing

Stable

Declining

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

Project Name:

foreclosed properties.

Signature

Signature

Appraiser Name

Supervisory Appraiser Name

Company Name

Company Name

Company Address

Company Address

State License/Certification #

State License/Certification #

Email Address

Email Address

State

State

00083712752

20250814-1596-3

2963 Brynmawr Dr

Portage

MI

49024

Lauren Alvarez

3

1

3

0.50

0.33

1.00



0

1

1



0.00

3.00

1.00



$420,000

$369,500

$431,500



133

98

6



-

$439,900

$395,900



-

65

91



97.40%

100.00%

98.89%







The Michigan Regional Information Center MLS reported no concessions between 08/05/2024 and 08/05/2025.



The Michigan Regional Information Center MLS reported no foreclosures or short sales between 08/05/2024 and 08/05/2025.

The Market Conditions Addenda was completed with data from Michigan Regional Information Center MLS with an effective date of 08/05/2025.

Limited sales make it difficult to exhibit a trend. It is the appraisers common knowledge demand continues with limited inventory and interest rates continue to be contributing factors

in the subjects market and are exhibiting a stable. There is insufficient data to suggest a declining market at this time.

Brandon S. Rausch

Acura Valuation, Inc.

709 Lodge Lane, Kalamazoo, MI 49009

MI

brausch@acuravaluation.com



1205073659

1201001369

00083712752

16

Page 17

UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM

(Source: Fannie Mae UAD Appendix D: UAD Field-Specific Standardization Requirements)

File #

Condition Ratings and Definitions

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

depreciation.

Note: Newly constructed improvements that feature recycled or previously used materials and/or components can be considered new dwellings provided that the dwelling is placed

on a 100 percent new foundation and the recycled materials and the recycled components have been rehabilitated/remanufactured into like-new condition. Improvements that have

not been previously occupied are not considered “new” if they have any significant physical depreciation (that is, newly constructed dwellings that have been vacant for an extended

period of time without adequate maintenance or upkeep).

The improvements feature no deferred maintenance, little or no physical depreciation, and require no repairs. Virtually all building components are new or have been recently

repaired, refinished, or rehabilitated. All outdated components and finishes have been updated and/or replaced with components that meet current standards. Dwellings in this

category either are almost new or have been recently completely renovated and are similar in condition to new construction.

Note: The improvements represent a relatively new property that is well maintained with no deferred maintenance and little or no physical depreciation, or an older property that has

been recently completely renovated.

The improvements are well maintained and feature limited physical depreciation due to normal wear and tear. Some components, but not every major building component, may be

updated or recently rehabilitated. The structure has been well maintained.

Note: The improvement is in its first-cycle of replacing short-lived building components (appliances, floor coverings, HVAC, etc.) and is being well maintained. Its estimated effective

age is less than its actual age. It also may reflect a property in which the majority of short-lived building components have been replaced but not to the level of a complete

renovation.

The improvements feature some minor deferred maintenance and physical deterioration due to normal wear and tear. The dwelling has been adequately maintained and requires

only minimal repairs to building components/mechanical systems and cosmetic repairs. All major building components have been adequately maintained and are functionally

adequate.

Note: The estimated effective age may be close to or equal to its actual age. It reflects a property in which some of the short-lived building components have been replaced, and

some short-lived building components are at or near the end of their physical life expectancy; however, they still function adequately. Most minor repairs have been addressed on an

ongoing basis resulting in an adequately maintained property.

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

functional utility and overall livability is somewhat diminished due to condition, but the dwelling remains useable and functional as a residence.

Note: Some significant repairs are needed to the improvements due to the lack of adequate maintenance. It reflects a property in which many of its short-lived building components

are at the end of or have exceeded their physical life expectancy but remain functional.

The improvements have substantial damage or deferred maintenance with deficiencies or defects that are severe enough to affect the safety, soundness, or structural integrity of

the improvements. The improvements are in need of substantial repairs and rehabilitation, including many or most major components.

Note: Substantial repairs are needed to the improvements due to the lack of adequate maintenance or property damage. It reflects a property with conditions severe enough to

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

Quality Ratings and Definitions

Dwellings with this quality rating are usually unique structures that are individually designed by an architect for a specified user. Such residences typically are constructed from

detailed architectural plans and specifications and feature an exceptionally high level of workmanship and exceptionally high-grade materials throughout the interior and exterior of

the structure. The design features exceptionally high-quality exterior refinements and ornamentation, and exceptionally high-quality interior refinements. The workmanship,

materials, and finishes throughout the dwelling are of exceptionally high quality.

Dwellings with this quality rating are often custom designed for construction on an individual property owner’s site. However, dwellings in this quality grade are also found in

high-quality tract developments featuring residence constructed from individual plans or from highly modified or upgraded plans. The design features detailed, high quality exterior

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

Dwellings with this quality rating are residences of higher quality built 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 standards and

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

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

adequate fenestration and some exterior ornamentation and interior refinements. Materials, workmanship, finish, and equipment are of stock or builder grade and may feature some

upgrades.

Dwellings with this quality rating feature economy of construction and basic functionality as main considerations. Such dwellings feature a plain design using readily available or

basic floor plans featuring minimal fenestration and basic finishes with minimal exterior ornamentation and limited interior detail. These dwellings meet minimum building codes and

are constructed with inexpensive, stock materials with limited refinements and upgrades.

Dwellings with this quality rating are of basic quality and lower cost; some may not be suitable for year-round occupancy. Such dwellings are often built with simple plans or without

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

construction skills. Electrical, plumbing, and other mechanical systems and equipment may be minimal or non-existent. Older dwellings may feature one or more substandard or

non-conforming additions to the original structure.

Definitions of Not Updated, Updated, and Remodeled

Not Updated

Little or no updating or modernization. This description includes, but is not limited to, new homes.

Updated

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

An updated area of the home should have an improved look and feel, or functional utility. Changes that constitute updates include refurbishment and/or replacing

components to meet existing market expectations. Updates do not include significant alterations to the existing structure .

Remodeled

Significant finish and/or structural changes have been made that increase utility and appeal through complete replacement and/ or expansion.

A remodeled area reflects fundamental changes that include multiple alterations. These alterations may include some or all of the following: replacement of a major

component (cabinet(s), bathtub, or bathroom tile), relocation of plumbing/gas fixtures/appliances, significant structural alterations (relocating walls, and/or the addition of)

square footage). This would include a complete gutting and rebuild.

Explanation of Bathroom Count

Three-quarter baths are counted as a full bath in all cases. Quarter baths (baths that feature only a toilet) are not included in the bathroom count. The number of full and

half baths is reported by separating the two values using a period, where the full bath count is represented to the left of the period and the half bath count is represented

to the right of the period.

Residential properties of fifteen years of age or less often reflect an original condition with no updating, if no major components have been replaced or updated. Those

over fifteen years of age are also considered not updated if the appliances, fixtures, and finishes are predominantly dated. An area that is ‘Not Updated’ may still be well

maintained and fully functional, and this rating does not necessarily imply deferred maintenance or physical /functional deterioration.

UADDEF 9-2011 (Updated 1/2014)

AI Ready

Example:

3.2 indicates three full baths and two half baths.

00083712752

20250814-1596-3

00083712752

Page 18

File #

UADDEF 9-2011 (Updated 1/2014)

AI Ready

Abbreviations Used in Data Standardization Text

Abbreviation

Full Name

Fields Where This Abbreviation May Appear

ac

Acres

Area, Site

AdjPrk

Adjacent to Park

Location

AdjPwr

Adjacent to Power Lines

Location

A

Adverse

Location & View

ba

Bathroom(s)

Basement & Finished Rooms Below Grade

br

Bedroom

Basement & Finished Rooms Below Grade

B

Beneficial

Location & View

Cash

Cash

Sale or Financing Concessions

CtySky

City View Skyline View

View

CtyStr

City Street View

View

Comm

Commercial Influence

Location

c

Contracted Date

Date of Sale/Time

Conv

Conventional

Sale or Financing Concessions

CrtOrd

Court Ordered Sale

Sale or Financing Concessions

DOM

Days On Market

Data Sources

e

Expiration Date

Date of Sale/Time

FHA

Federal Housing Authority

Sale or Financing Concessions

GlfCse

Golf Course

Location

Glfvw

Golf Course View

View

Listing

Listing

Sale or Financing Concessions

Estate

Estate Sale

Sale or Financing Concessions

ArmLth

Arms Length Sale

Sale or Financing Concessions

Prk

Park View

Pstrl

Pastoral View

View

PwrLn

Power Lines

View

PubTrn

Public Transportation

Location

rr

Recreational (Rec) Room

Basement & Finished Rooms Below Grade

Relo

Relocation Sale

Sale or Financing Concessions

REO

REO Sale

Sale or Financing Concessions

Res

Residential

Location & View

RH

USDA –Rural Housing

Sale or Financing Concessions

s

Settlement Date

Date of Sale/Time

Short

Sale or Financing Concessions

sf

Square Feet

Area, Site, Basement

Woods

Woods View

View

o

Other

Basement & Finished Rooms Below Grade

AT

Attached Structure

Design (Style)

BsyRd

Busy Road

Location

cp

Carport

Garage/Carport

cv

Covered

Garage/Carport

DT

Detached Structure

Design (Style)

dw

Driveway

Garage/Carport

g

Garage

Garage/Carport

ga

Attached Garage

Garage/Carport

gbi

Built-In Garage

Garage/Carport

gd

Detached Garage

Garage/Carport

GR

Garden

Design (Style)

HR 

High Rise 

Design (Style)

in

Interior Only Stairs

Basement & Finished Rooms Below Grade

Ind

Industrial

Location & View

Lndfl

Landfill

Location

LtdSght

Limited Sight

View

MR

Mid-Rise

Design (Style)

Mtn

Mountain View

View

N

Neutral

Location & View

NonArm

Non-Arms Length Sale

Sale or Financing Concessions

O

Other

Design (Style)

op

Open

Garage/Carport

View

RT

Row or Townhouse

Design (Style)

SD

Semi-detached Structure

Design (Style)

Short Sale

sqm

Square Meters

Area,Site

Unk

Unknown

Date of Sale/Time

VA

Veterans Administration

Sale or Financing Concessions

w

Withdrawn Date

Date of Sale/Time

wo

Walk Out Basement

Basement & Finished Rooms Below Grade

Wtr

Water View

View

WtrFr

Water Frontage

Location

wu

Walk Up Basement

Basement & Finished Rooms Below Grade

00083712752

20250814-1596-3

00083712752

18

Page 19

SUBJECT PHOTOGRAPH ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

FRONT OF SUBJECT PROPERTY

REAR OF SUBJECT PROPERTY

STREET SCENE

00083712752

Subject Front

2963 Brynmawr Dr

365,000

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Subject Rear

2963 Brynmawr Dr

365,000

Subject Street

2963 Brynmawr Dr

365,000

19

Page 20

SUBJECT PHOTOGRAPH ADDENDUM 

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

ADDITIONAL SUBJECT PHOTO

ADDITIONAL SUBJECT PHOTO

ADDITIONAL SUBJECT PHOTO

00083712752

20250814-1596-3

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

Covered Porch

Wood Deck

Screened Porch

20

Page 21

ADDITIONAL PHOTOGRAPH ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Additional Subject Photo

3 Car Attached

Additional Subject Photo

Foyer

Additional Subject Photo

Bedroom

21

Page 22

ADDITIONAL PHOTOGRAPH ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Additional Subject Photo

Den

Additional Subject Photo

Living

Additional Subject Photo

Living - Ceiling Damage

22

Page 23

ADDITIONAL PHOTOGRAPH ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Additional Subject Photo

Breakfast

Additional Subject Photo

Kitchen

Additional Subject Photo

Sun Room

23

Page 24

ADDITIONAL PHOTOGRAPH ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Additional Subject Photo

Bath

Additional Subject Photo

Laundry

Additional Subject Photo

Kitchen

24

Page 25

ADDITIONAL PHOTOGRAPH ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Additional Subject Photo

Dining

Additional Subject Photo

Second Floor

Additional Subject Photo

Bedroom / Carpet Def. Main.

25

Page 26

ADDITIONAL PHOTOGRAPH ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Additional Subject Photo

Bath

Additional Subject Photo

Bath

Additional Subject Photo

Bedroom

26

Page 27

ADDITIONAL PHOTOGRAPH ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Additional Subject Photo

Soiled Carpet

Additional Subject Photo

W.I.C.

Additional Subject Photo

Bath

27

Page 28

ADDITIONAL PHOTOGRAPH ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Additional Subject Photo

Bath Alt. View

Additional Subject Photo

Bedroom

Additional Subject Photo

W.I.C.

28

Page 29

ADDITIONAL PHOTOGRAPH ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Additional Subject Photo

Basement

Additional Subject Photo

Mechanicals

Additional Subject Photo

Crawl Space

29

Page 30

ADDITIONAL PHOTOGRAPH ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Additional Subject Photo

Basement

Additional Subject Photo

Basement

Additional Subject Photo

Basement

30

Page 31

ADDITIONAL PHOTOGRAPH ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Additional Subject Photo

Basement

Additional Subject Photo

Basement

Subject looking southwest

31

Page 32

ADDITIONAL PHOTOGRAPH ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Subject looking southeast

Subject looking northeast

Subject looking northwest

32

Page 33

ADDITIONAL PHOTOGRAPH ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Back yard

Shared Driveway

Exterior Deffered

Maintenance

33

Page 34

ADDITIONAL PHOTOGRAPH ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Front Porch Roof Damage

Exterior Deffered

Maintenance

Exterior Deffered

Maintenance

34

Page 35

ADDITIONAL PHOTOGRAPH ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

For each month from

08-06-2024 to 08-05-2025

this chart shows the median

price for both sales and

listings in the subject

For each month from

08-06-2024 to 08-05-2025

this chart shows the number

of properties for both sales

and listings in the subject

This chart shows the median

days on market for sales and

active listings during each

month starting 08-06-2024

through 08-05-2025.

35

Page 36

ADDITIONAL PHOTOGRAPH ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

This analysis of prices in

the subject market from

12-23-2024 to 07-28-2025

yields a price range of

$362,444 to $445,594 for

This analysis of listing

price per square foot in the

subject market from

07-09-2024 to 06-26-2025

shows a likely range of

This chart shows the median

days on market for sales and

active listings during each

month starting 12-23-2024

through 06-27-2025.

36

Page 37

ADDITIONAL PHOTOGRAPH ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

This chart shows the avg

sale price for competing

properties grouped by square

footage with a secondary

axis demonstrating the

37

Page 38

COMPARABLES PHOTOGRAPH ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

Comparable Sale 1

Date of Sale:

Sale Price:

Sq. Ft.:

$ / Sq. Ft.:

Comparable Sale 2

Date of Sale:

Sale Price:

Sq. Ft.:

$ / Sq. Ft.:

Comparable Sale 3

Date of Sale:

Sale Price:

Sq. Ft.:

$ / Sq. Ft.:

00083712752

Huntington National Bank

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

20250814-1596-3

3096 Brynmawr Dr

Portage

49024

s06/25;c06/25

431,500

3,464

124.57

MI

s06/25;c05/25

435,000

2,990

145.48

3546 Fleetwood Dr

Portage

49024

MI

s05/25;c03/25

325,000

2,304

141.06

6544 Cypress St

Portage

49024

MI

38

Page 39

SKETCH ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

39

Page 40

SKETCH ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

40

Page 41

PLAT MAP ADDENDUM

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

41

Page 42

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Subject Location Map

42

Page 43

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Flood Map

43

Page 44

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Sales Location Map

44

Page 45

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Subject Location Map - Expanded View

45

Page 46

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Adjustment Support

46

Page 47

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Appraiser License

47

Page 48

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Adjustment Support

48

Page 49

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

E&O Declarations Page

49

Page 50

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

Adjustment Support

50

Page 51

Property Address

City

Lender

State

Borrower/Client

County

Zip Code

File #

00083712752

Lauren Alvarez

2963 Brynmawr Dr

Portage

Kalamazoo

MI

49024

Huntington National Bank

20250814-1596-3

E&O Appraisers Endorsement

51

Page 52

*** Information herein deemed reliable but not guaranteed***

KALAMAZOO

County:

CITY OF PORTAGE

Jurisdiction:

Printed on

Parcel Number:

39-10-09425-013-O

166,860C

191,300

166,500

24,800

2023

175,203C

217,800

190,500

27,300

2024

180,634C

232,700

200,600

32,100

2025

249,400S

249,400M

249,400

209,300

40,100

2026

Taxable

Value

Tribunal/

Other

Board of

Review

Assessed

Value

Building

Value

Land

Value

Year

 * Factors *

Description Frontage Depth Front Depth Rate %Adj. Reason Value

2SF02 122.00 172.00 0.9709 1.0425 650 100 80,264

 122 Actual Front Feet, 0.48 Total Acres Total Est. Land Value = 80,264

Land Value Estimates for Land Table 401NW.RES NORTH WEST

EW 07/05/2013 REINSPECTI

Who When What

Level

Rolling

Low

High

Landscaped

Swamp

Wooded

Pond

Waterfront

Ravine

Wetland

Flood Plain

X

 

 

 

X

 

X

 

 

 

 

 

 

Topography of 

Site

Dirt Road

Gravel Road

Paved Road

Storm Sewer

Sidewalk

Water

Sewer

Electric

Gas

Curb

Street Lights

Standard Utilities

Underground Utils.

 

 

X

X

 

X

X

X

X

X

X

 

X

Public

Improvements

Vacant

 

Improved

X

The Equalizer. Copyright (c) 1999 - 2009.

Licensed To: City of Portage, County of

Kalamazoo, Michigan

Comments/Influences

THE WOODS, LOT 13

Tax Description

ALVAREZ, LAUREN & FRANCO

2963 BRYNMAWR DR

PORTAGE MI 49024

Owner's Name/Address

2963 BRYNMAWR DR

Property Address

2026 Est TCV 498,730 TCV/TFA: 164.22

REALTYPE: SINGLE FAMILY

P.R.E. 100% 03/26/2026 

School: PORTAGE PUBLIC SCHOOLS

Status

Number

Date

Building Permit(s)

Zoning: R-1C

Class: RESIDENTIAL-IMPROV

100.0

PROPERTY TRANSFER 

2025-025945

03-ARM'S LENGTH

WD

09/29/2025

365,000

ALVAREZ, LAUREN & FRANCO

STONE, W JAMES & L K

Prcnt.

Trans.

Verified

By

Liber

& Page

Terms of Sale

Inst.

Type

Sale

Date

Sale

Price

Grantee

Grantor

07/08/2026

53

Exhibit D: City of Portage Property Record Card & Valuation Report

Page 53

*** Information herein deemed reliable but not guaranteed***

Parcel Number: 39-10-09425-013-O

Printed on

07/08/2026

54

Page 54

Class: B +5

Effec. Age: 30

Floor Area: 3,037 

Total Base New : 728,140 E.C.F.

Total Depr Cost: 509,703 X 0.821

Estimated T.C.V: 418,466 

Cost Est. for Res. Bldg: 1 Single Family TWO-STORY Cls B 5 Blt 1989

(11) Heating System: Forced Heat & Cool

Ground Area = 1810 SF Floor Area = 3037 SF.

Phy/Ab.Phy/Func/Econ/Comb. % Good=70/100/100/100/70

Building Areas

Stories Exterior Foundation Size Cost New Depr. Cost 

2 Story Siding Basement 1,035 

1 Story Siding Basement 427 

2 Story Siding Crawl Space 192 

1 Story Siding Basement 156 

 Total: 608,955 426,274

Other Additions/Adjustments

Plumbing

 3 Fixture Bath 2 20,151 14,106 

 Extra Sink 2 3,345 2,341 

 Separate Shower 1 3,062 2,143 

 Ceramic Tile Floor 1 1,920 1,344 

 Ceramic Tub Alcove 2 1,990 1,393 

Porches

 CCP (1 Story) 32 1,527 1,069 

Deck

 Treated Wood 493 7,972 5,580 

Garages

Class: B Exterior: Siding Foundation: 42 Inch (Finished)

 Base Cost 800 54,560 38,192 

 Common Wall: 1 Wall 1 -3,514 -2,460 

 Door Opener 1 738 517 

Water/Sewer

 Public Water 1 2,157 1,510 

 Public Sewer 1 2,157 1,510 

<<<<< Calculations too long. See Valuation printout for complete pricing. >>>>>

Carport Area: 

Roof: 

Bsmnt Garage: 

Year Built: 1989

Car Capacity: 

Class: B

Exterior: Siding

Brick Ven.: 0

Stone Ven.: 0

Common Wall: 1 Wall

Foundation: 42 Inch

Finished ?: Yes

Auto. Doors: 1

Mech. Doors: 1

Area: 800

% Good: 0

Storage Area: 0

No Conc. Floor: 0

 (17) Garage

CCP (1 Story)

Treated Wood

32

493

Type

Area

 (16) Porches/Decks

Interior 1 Story

Interior 2 Story

2nd/Same Stack

Two Sided

Exterior 1 Story

Exterior 2 Story

Prefab 1 Story

Prefab 2 Story

Heat Circulator

Raised Hearth

Wood Stove

Direct-Vented Gas

 

 

 

 

 

 

1

 

 

 

 

 

 (15) Fireplaces

Appliance Allow.

Cook Top

Dishwasher

Garbage Disposal

Bath Heater

Vent Fan

Hot Tub

Unvented Hood

Vented Hood

Intercom

Jacuzzi Tub

Jacuzzi repl.Tub

Oven

Microwave

Standard Range

Self Clean Range

Sauna

Trash Compactor

Central Vacuum

Security System

 

 

1

1

 

 

 

 

 

 

 

 

1

1

1

 

 

 

 

1

 (15) Built-ins

 Lump Sum Items:

Public Water

Public Sewer

Water Well

1000 Gal Septic

2000 Gal Septic

1

1

 

 

 

 (14) Water/Sewer

Average Fixture(s)

3 Fixture Bath

2 Fixture Bath

Softener, Auto

Softener, Manual

Solar Water Heat

No Plumbing

Extra Toilet

Extra Sink

Separate Shower

Ceramic Tile Floor

Ceramic Tile Wains

Ceramic Tub Alcove

Vent Fan

 

3

 

 

 

 

 

 

2

1

1

 

2

 

 (13) Plumbing

Few

 

Ave.

X

Many

 

No. of Elec. Outlets

Min

 

Ord.

X

Ex.

 

 No./Qual. of Fixtures

Amps Service

100

 (12) Electric

Central Air

Wood Furnace

 

 

Forced Air w/o Ducts

Forced Air w/ Ducts 

Forced Hot Water

Electric Baseboard

Elec. Ceil. Radiant

Radiant (in-floor)

Electric Wall Heat

Space Heater

Wall/Floor Furnace

Forced Heat & Cool

Heat Pump

No Heating/Cooling

 

 

 

 

 

 

 

 

 

X

 

 

Elec.

Steam

 

Oil

Coal

 

Gas

Wood

X

 (11) Heating/Cooling

 Joists: 

 Unsupported Len: 

 Cntr.Sup: 

 (10) Floor Support

Recreation SF

Living SF

Walkout Doors (B)

No Floor SF

Walkout Doors (A)

 

 

 

 

 

 (9) Basement Finish

Conc. Block

Poured Conc.

Stone

Treated Wood

Concrete Floor

 

 

 

 

 

 (8) Basement

 Basement: 1618 S.F.

 Crawl: 192 S.F.

 Slab: 0 S.F.

 Height to Joists: 0.0

 (7) Excavation

 

 

 

 

 (6) Ceilings

 Kitchen: 

 Other: 

 Other: 

 (5) Floors

H.C.

X

Solid

 

Doors:

Small

 

Ord

X

Lg

 

Size of Closets

Min

 

Ord

X

Ex

 

Trim & Decoration

Plaster

Wood T&G

 

 

Drywall

Paneled

X

 

(4) Interior

Eavestrough

Insulation

Front Overhang

Other Overhang

 

 

 0

 0

 (3) Roof (cont.)

*** Information herein deemed reliable but not guaranteed***

Residential Building 1 of 1

Printed on

Parcel Number:

39-10-09425-013-O

 Chimney: Brick

Asphalt Shingle

X

Gambrel

Mansard

Shed

 

 

 

Gable

Hip

Flat

X

 

 

 (3) Roof

Wood Sash

Metal Sash

Vinyl Sash

Double Hung

Horiz. Slide

Casement

Double Glass

Patio Doors

Storms & Screens

 

 

 

 

 

 

 

 

Large

Avg.

Small

 

X

 

Many

Avg.

Few

 

X

 

 (2) Windows

Wood/Shingle

Aluminum/Vinyl

Brick

 

Insulation

X

 

 

 

 (1) Exterior

Basement

1st Floor

2nd Floor

Bedrooms

 

6

3

4

 Room List

 Condition: Average

Remodeled

0

 Yr Built

 1989 

 Building Style:

 TWO-STORY

Wood Frame

X

Single Family

Mobile Home

Town Home

Duplex

A-Frame

X

 

 

 

 

 Building Type

07/08/2026

55

Page 55

*** Information herein deemed reliable but not guaranteed***

Parcel Number: 39-10-09425-013-O, Residential Building 1

Printed on

07/08/2026

56

Page 56

SUMMARY

2963 Bryn Mawr Dr, Portage, MI

49024

Lauren Alvarez

08/04/2025

Audrey Baker

Baker Property Inspections

2695992367

audrey@bakerpropertyinspections.com

These summary pages are not the entire report. The complete report may include additional

information of interest or concern to you. It is strongly recommended that you promptly read

the complete report. For information regarding the negotiability of any item in this report under

the real estate purchase contract, contact your real estate agent or an attorney.

1.1.1 Important Information/Limitations

STRUCTURE IN STATE OF DISREPAIR

The structure was in some state of disrepair at the time of inspection. I make every effort to accurately

document the condition of the structure and its items and components, however, with a structure in this

condition, generalizations may be used with a recommendation of further evaluation and repairs as needed

by licensed professionals, instead of a listing of every occurrence of every defect. These recommendations for

further evaluations should be followed to determine the true cost of repairs, as it is very likely additional

problems will be found.

Recommendation

Contact a qualified professional.

Marginal Defect

3.3.1 Roof Surface Condition

ROOF SURFACE - DAMAGE

FRONT

The roof surface/decking was damaged at the referenced area(s). An

evaluation of the roof surface with repairs made to any damage found

and to the conditions that allowed for the damage is recommended to

be performed by a qualified roofing contractor.

Recommendation

Contact a qualified professional.

Significant Defect

2963 Bryn Mawr Dr

Lauren Alvarez

Baker Property Inspections

Page 1 of 63

Exhibit E: Excerpts From Professional Home Inspection Report

- Note to Tribunal: Full inspection report is 141 pages long. Petitioner has only included

items covered in the petition with the highest impact.

Page 57

3.3.2 Roof Surface Condition

ROOF DECK - SAGGING AREA(S)

The roof deck was sagging to some degree at the referenced area(s). An evaluation of the sagging with repairs

made as needed is recommended to be conducted by a qualified contractor. 

Recommendation

Contact a qualified professional.

Marginal Defect

3.3.3 Roof Surface Condition

SURFACE - DIFFERENTLY AGED SHINGLES PRESENT

There was evidence of differing aged shingles at some areas of the roof covering. This may have been result of

early replacement of one area and a budget constraint and replacing all roof covering materials at the same

time. Due to the different aged materials the perceived older portion will most likely require repair or likely

replacement before the rest of the shingles reach a replacement age. Valuation by roofing contractor to

determine specific service life remaining or the need for repairs prior to replacement and a general strategy

moving forward is recommended.

Recommendation

Contact a qualified roofing professional.

Marginal Defect

2963 Bryn Mawr Dr

Lauren Alvarez

Baker Property Inspections

Page 2 of 63

58

Page 58

3.5.1 Vents/Roof Penetrations

BOOT(S) - CRACKED/ DAMAGED/ GAPS PRESENT

There were vent boot(s) that were cracked, damaged, or contained gaps around the boot. This can allow

rainwater to infiltrate the attic area. Repairs or replacement of the boot(s) is recommended to be conducted

as needed by a roofing contractor.

Recommendation

Contact a qualified roofing professional.

Significant Defect

3.6.1 Roof Flashings

KICKOUT - MISSING WITH WATER DAMAGE

Kickout flashing was not present at the referenced area(s) and some degree of damage was present as a

result. Kickout flashing is recommended at any areas where gutters meet a sidewall to prevent rainwater from

infiltrating between the end of the gutter and the wall. An invasive evaluation of the area is recommended to

be performed by a qualified contractor to determine the extent of the damage, with repairs made to any

damage found, along with the installation of proper flashing.  

Recommendation

Contact a qualified professional.

Significant Defect

2963 Bryn Mawr Dr

Lauren Alvarez

Baker Property Inspections

Page 3 of 63

59

Page 59

3.8.2 Gutters/Downspouts

GUTTER(S) - IMPROPER PITCH

There were visual pitch deficiencies present with the gutters in areas.

Evaluation and repairs as needed to the gutters to achieve proper

drainage is recommended to be performed by a gutter contractor. 

Recommendation

Contact a qualified gutter contractor

Marginal Defect

3.8.3 Gutters/Downspouts

GUTTER(S) - DAMAGE PRESENT

The gutters were damaged at the referenced area(s). Repairs or

replacement of any damaged areas of guttering is recommended to be

conducted as needed by a gutter contractor.  

Recommendation

Contact a qualified gutter contractor

Marginal Defect

2963 Bryn Mawr Dr

Lauren Alvarez

Baker Property Inspections

Page 4 of 63

60

Page 60

3.8.4 Gutters/Downspouts

GUTTER(S) - INDICATIONS OF LEAK(S)

There were indications of gutter leaks at the referenced areas, which may include moisture staining or mildew

at gutter joints, soffit areas, and/or fascia boards. An evaluation of these areas is recommended to be

performed by a gutter contractor with repairs made as needed to ensure no further leaking occurs. Any

related damage should be repaired at this time as well. 

Recommendation

Contact a qualified gutter contractor

Marginal Defect

3.8.5 Gutters/Downspouts

DOWNSPOUT(S) - INADEQUATE ATTEMPT

AT DIVERTING

Attempts have been made to divert the downspouts away from the

structure in areas, but will still need work to properly divert rainwater

away. Current standards require for downspouts to terminate at least

five feet away from the home. Repairs or modifications to the

downspouts and/or drain tubes to properly divert rainwater away from

the home is recommended by a qualified person. 

Recommendation

Contact a qualified gutter contractor

Marginal Defect

2963 Bryn Mawr Dr

Lauren Alvarez

Baker Property Inspections

Page 5 of 63

61

Page 61

4.3.2 Wood Siding

WOOD SIDING - DAMAGE

FRONT, RIGHT SIDE, REAR, ROOF

Damage was present to the wood siding in the referenced area(s). Repairs or replacement of affected portions

is recommended to be performed by a qualified contractor as needed. 

Recommendation

Contact a qualified siding specialist.

Significant Defect

2963 Bryn Mawr Dr

Lauren Alvarez

Baker Property Inspections

Page 7 of 63

62

Page 62

5.6.1 Vegetation Observations

LARGE TREE(S) ADJACENT TO STRUCTURE

Large tree(s) were in the vicinity of the structure. An evaluation of the trees to determine their health and

stability is recommended to be performed by an arborist or other qualified person. 

Recommendation

Contact a qualified professional.

Marginal Defect

2963 Bryn Mawr Dr

Lauren Alvarez

Baker Property Inspections

Page 14 of 63

63

Page 63

5.7.1 Decks

DECK(S) - SAGGING

The referenced deck was sagging in area(s). An evaluation of the deck with repairs or replacement conducted

as needed to properly support the deck and correct the sagging is recommended to be performed by a

qualified contractor.

Recommendation

Contact a qualified deck contractor.

Significant Defect

2963 Bryn Mawr Dr

Lauren Alvarez

Baker Property Inspections

Page 16 of 63

64

Page 64

9.6.1 Floor Condition

FLOOR(S) - SOFT AREA PRESENT

A "soft area" was present on the referenced area of the floor, and a

cause could not be determined. An invasive evaluation of the area(s)

and repairs made as needed is recommended to be performed by a

qualified contractor. 

Recommendation

Contact a qualified professional.

Marginal Defect

9.6.2 Floor Condition

TILE FLOORING - DAMAGED

KITCHEN

There were cracked and/or damaged tile(s) present at the referenced area(s). An evaluation of the tile floors in

the home with replacement of any damaged or cracked tile(s) is recommended to be conducted by a flooring

contractor as needed.

Recommendation

Contact a qualified tile contractor

Marginal Defect

2963 Bryn Mawr Dr

Lauren Alvarez

Baker Property Inspections

Page 33 of 63

65

Page 65

13.11.1 Subfloor

SUBFLOOR DAMAGE

BELOW REAR DOORS

Some degree of damage was present to the subfloor in the referenced area(s). Repairs are recommended to

be conducted as needed to any damaged areas of the subfloor by a qualified contractor.

Recommendation

Contact a qualified professional.

Significant Defect

2963 Bryn Mawr Dr

Lauren Alvarez

Baker Property Inspections

Page 41 of 63

66

Page 66

18.6.1 Foundation - WMC

INDICATIONS OF PAST/PRESENT MOISTURE

There was evidence of past and/or present moisture infiltration into areas below grade (referenced at the top

of the Foundation section of the report). This moisture can come from grading deficiencies, improper

downspout terminations and/or damage to drain tubes, a high water table, and/or other deficiencies. I

recommend consulting with the sellers in regards to prior moisture infiltration into this area.

This deficiency will be labeled in Red (significant concern) when active moisture infiltration and/or related

deficiencies were observed, or labeled in Orange (moderate concern) when indications of past moisture

infiltration was observed.

A full evaluation is recommended to be conducted by a foundation or grading contractor to determine the

exact source of the moisture or indications of past moisture, with repairs made as needed to prevent or

manage future moisture infiltration. 

Recommendation

Contact a foundation contractor.

Significant Defect

2963 Bryn Mawr Dr

Lauren Alvarez

Baker Property Inspections

Page 57 of 63

67

Page 67

2963 Bryn Mawr Dr

Lauren Alvarez

Baker Property Inspections

Page 58 of 63

68

Page 68

Credit card payment accepted with a 3% service fee.

Page 1 of 2

Southwest Roofing Company, LLC

12867 N US 131

Schoolcraft, MI 49087 US

info@southwestroofingmi.com

INVOICE

BILL TO

Franco Alvarez

2963 Bryn Mawr Dr.

Portage, MI 49024

INVOICE

2963 Bryn Mawr

DATE

10/24/2025

TERMS

Net 30

DUE DATE

11/23/2025

SERVICE

DESCRIPTION

AMOUNT

Roof Replacement

We propose to furnish labor and material:

PROJECT ADDRESS: 2963 Bryn Mawr Dr. Portage MI

Labor $11,600.00

Material $17,550.00

-Remove existing shingles. If unseen additional layers are found add $30 per square. This

includes extra labor and dump fees.

-Inspect and replace any damaged decking. Any 4’x 8’ sheets of OSB are removed and replaced

are $70.00 per sheet. Labor and material. Any 1”x 6”x 8’ boards are $8.00 per lineal foot removed

and replaced. Labor and material.

**FOUR SHEETS OF OSB ARE INCLUDED IN THIS ESTIMATE**

-Install T style drip edge along roof edges.

-Install 2 rows (6 ft) of ice and water protection on the roof eaves or to extend 24 inches above the

vertical projection of the exterior wall over heated areas and in the valleys. The installation of ice

and water will not prevent ice buildup on the home. (Ice and water barrier will slow water

infiltration but is NOT guaranteed to stop all water from entering the home if severe ice damming

occurs.)

-Install synthetic underlayment on remaining surfaces.

-Install starter shingle.

-Install Certainteed Landmark dimensional shingle.

-Install any necessary wall flashing.

-Install new pipe flashings.

-Install continuous ridge vent system.

-Remove and replace existing 7 skylights with new Velux skylight and flashing kit. (Please note all

new skylights include a solar-powered shade and remote control). Inside trim work/painting not

included, if necessary.

-Removal of all debris included and excess material if provided included.

-Magnet sweep for nails and thorough cleanup.

ROOF PROJECT COMPLETE ON 10/29/25

**** WARRANTY INFORMATION ****

*** 50-Year (Limited Lifetime) Shingle Manufacturer Warranty -

*** 25-Year Workmanship Warranty

**** COLOR SELECTION ****

DRIP: BLACK

SHINGLE: BLACK

29,150.00

Exhibit F: Contractor Invoices, Estimates, and Material Receipts

Page 69

Credit card payment accepted with a 3% service fee.

Page 2 of 2

Thank you for the opportunity.

PAYMENT

29,150.00

BALANCE DUE

$0.00

PAID

70

Page 70

“Your home today is our reputation tomorrow” 

 

www.lystercontracting.com 

 

2211 Miller Rd., Kalamazoo, MI 49001 

269-746-4051, – Lic.# 2102182226 

Fully Insured – Work. Comp. & Liability 

 

 

 

A HOME IMPROVEMENT 

 PROPOSAL FOR 

 

Franco Alvarez 

2963 Bryn Mawr Dr. 

Portage, MI 49008 

804-605-4917 

 

71

Page 71

LYSTER EXTERIORS

269-746-4051

SIDING PROPOSAL

Client: Franco Alvarez, 2963 Bryn mawr Dr. Portage, MI 49008

Phone: 804-605-4917

Description of Work: (Vinyl Siding on House)

1. We will make any dimensional lumber structural repairs found to be necessary for the

proper application of the siding or fascia for an additional charge of $7.00/ln. ft. of wood

used.

2. If necessary, we will install any necessary or replace any damaged sheeting with new OSB

at the additional charge of $1.50/sq ft.

3. We will add a premium house wrap moisture barrier to the entire house. We will be taping

all seams and cuts in the house-wrap with approved house-wrap seam tape.

4. We will install new outside vinyl corners and all necessary trims. We will remove and re-

install all lights and outlets onto color matched mounting blocks.

5. We will install new CertainTeed Board & Batten 7” on the front of the house and

CertainTeed Monogram .046”, double 4”, lap vinyl siding on the rest of the house.

6. We will install new aluminum vented soffit on all eaves and solid soffit on the rakes of the

house. We will install all necessary trims.

7. We will install new pre-bent aluminum fascia on all rakes and eaves of the house.

8. We custom wrap (2) garage doors with.019” aluminum coil

9. We will adequately protect the house and landscaping and remove all construction debris

from the job site. We will magnet the area for loose nails. We understand the job site is not

a factory, but your home.

Page 72

10. LABOR WARRANTY: Lyster shall remedy any defects due to faulty workmanship by 

Lyster representatives which appear within 5 years of completion of performance, unless 

the terms of any applicable manufacturer’s warranties prescribe a shorter warranty period 

for the materials utilized, in which case the shorter period shall govern. Owner understands 

and agrees that his remedies are limited solely to repair of defective workmanship and 

materials affected by workmanship in accordance with the foregoing and consents that 

Lyster shall not be liable for any material failures covered by manufacturer warranties or 

any consequential or other monetary damages of any kind or nature by reason of any 

defect that may occur. This warranty is transferable to a subsequent owner. 

 

 

11. We will obtain any necessary governmental building permit. 

 

12. Terms: 50% down payment with a signed contract and proposal; 

 

 

Siding Investments: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5% Discount 

 

 

 

 

 

 

 

Financing/credit card 

Cash/Check 

 

 

 

CertainTeed Monogram Siding: 

 

$71,389.50 

 

$67,990.00 x____ 

 

 

 

 

 

Note: Investment prices are valid for 30 days from 10/22/2025 or with a signed contract and down 

payment. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

73

Page 73

LYSTER EXTERIORS

269-746-4051

WINDOW PROPOSAL

Client: Franco Alvarez, 2963 Bryn mawr Dr. Portage, MI 49008

Phone: 804-605-4917

Description of Work: (Windows)

1. We will remove and dispose of the existing windows in all openings in the house.

2. We will install new Alliance® Hawthorne® series vinyl casement and picture windows.

They feature a ¾” double pane insulated glass with a warm edge spacer. The glass packs

are coated in Low E and then argon filled. These features help qualify the windows as

EnergyStar® rated. All windows will have full screens. All windows will also feature cam

locks and nighttime vent latches. All hardware is white.

3. We will insulate around each window with low expansion spray foam.

4. We will custom wrap the exterior window frame with new .019” aluminum coil.

5. We will properly tape around each window with an approved window tape.

6. We will add wood window stops if necessary. Homeowner is responsible for additional

interior painting

7. LABOR WARRANTY: Lyster shall remedy any defects due to faulty workmanship by

Lyster representatives which appear within 5 years of completion of performance, unless

the terms of any applicable manufacturer’s warranties prescribe a shorter warranty period

for the materials utilized, in which case the shorter period shall govern.

Window Investments:

5% Discount

Financing/credit card

Cash/Check

Alliance Windows:

$38,577.00

$36,740.00 x____

*The price quoted reflects the standard Interior & Exterior Color: White & Black. Other color

options are available for an additional cost.

Note: Investment prices are valid for 30 days from 10/22/2025 or with a signed contract and down

payment.

Page 74

LYSTER EXTERIORS 

269-746-4051 

GUTTER PROPOSAL 

 

Client: Franco Alvarez, 2963 Bryn mawr Dr. Portage, MI 49008 

Phone: 804-605-4917 

 

Description of Work: (Gutters on House) 

 

 

1. We will remove and dispose of the existing gutters and downspouts on the house. 

 

2. We will install new 5” seamless aluminum gutters. 

 

3. All gutters will be fastened with hidden hangers and stainless-steel screws. 

 

4. We will install new 2x3 residential aluminum downspouts. 

 

5. We will use a geocell gutter sealant to seal all corner miters and downspout outlets. This 

will make for a leak free gutter system. 

 

6. Gutter Guards: We will install Shur Flo gutter guards on the entire gutter system. 

 

7. LABOR WARRANTY: Lyster shall remedy any defects due to faulty workmanship by 

Lyster representatives which appear within 1 years of completion of performance. 

 

8. We will obtain any necessary governmental building permit. 

 

9. Terms: 50% down payment with a signed contract and proposal. 

 

 

 

 

 

 

Investments: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Discount 

 

 

 

 

 

 

 

Financing/credit card 

Cash/Check 

 

 

5” Seamless Gutters 

 

 

 

 $2,047.50 

 

 

$1,950.00 

x____ 

 

5” ShurFlo Gutter Guards 

 

 

 $1,564.50 

 

 

$1,490.00 

x____ 

 

 

Note: Investment prices are valid for 30 days from 10/22/2025 or with a signed contract and down 

payment. 

75

Page 75

LYSTER EXTERIORS

2211 Miller Rd., Kalamazoo, MI 49001

269-746-4051 - Lic.# 2102182226

Pre-Installation Checklist

1. After your permit has been issued by the building department the Production Department will

call to schedule the installation date for your new roof. (Salesman do not schedule the date for

Installation.)

2. Our crews typically arrive (weather permitting between 7:30am-9am depending on traffic. Once

they arrive, the crew leader will answer any questions you may have. (Please direct any present

questions or future questions to the crew leader or your sales representative.)

3. Cutting your grass 1-3 days before the install date greatly assists the cleanup process. The

magnets used will capture nails more efficiently in shorter grass.

4. Please make sure all vehicles are out of the garage and off the driveway. Anything in the garage

and house attic of value should be removed or at least covered.

5. Please remove any landscape lights, flowerpots, garden gnomes, hanging plants, lawn furniture,

barbeque grills, etc. that are near the home. Close any awnings or patio umbrellas.

6. If new skylights are being installed, please place some plastic or a drop cloth underneath the

skylight to catch any debris that may fall in the installation process.

7. The process of installing a new roof means workers on your roof which can cause significant

vibrations at times. You will likely hear and feel your installers on the roof. Avoid falling objects

or breakage by removing loose or fragile items from your home’s walls and shelves.

8. Replacing your roof will not fix rafters or overhangs that may have settled. This is a structural

issue and is normally oblivios to the homeowner until a new roof is installed. (If the rafter is

broken we will repair it to meet the building code.)

9. Are there any existing leaks in the roof ( Explain: be exact in location):____________________

____________________________________________________________________________

10. If you have pre-existing gutter protection, (Gutter Helmet Style) customer is reponsible at their

expense, for having the company who installed the protection come out to remove and reinstall

before and after the roof is completed. If not all warrantys with product will be void.

11. Customer understands Lyster Exteriors cannot be held liable for ventilation problems related to

inherently defective design. Lyster Exteriors will bring the exhaust ventilation up to building

current code.

12. If you have a satellite dish installed on the roof and it is staying, it will be removed and installed

in the same location; however, it may require adjustments by your satellite company service

provider. Lyster Exteriors is not responsible for re-alignment for your satelite dish.

13. Homeowner accepts all reposibility for Home Owner Association and or Historic district

approval, when applicable.

14. Is there anything not written on the contract that the sales representative promised you?

___________________________________________________________________________

15. Due to unforeseen conditions Lyster will not be responsible for any driveway/sidewalk issues

caused by delivery vehicles.

Customer

Signature:____________________________________________Date___________________

Page 76

2211 Miller Rd., Kalamazoo, MI 49001 

269-746-4051 - Lic.# 2102182226 

 

SERVICE CONTRACT 

 

 

This contract is entered into by Lyster Exteriors, a residential maintenance and alteration contractor 

required to be licensed by the State of Michigan under Article 24 of Act 299 of the Public Acts of 1980, as 

amended, being Sections 339.2401 to 339.2412 of the Michigan Compiled Laws, and whose License Number is 

2102182226 (“Lyster”) and Franco Alvarez (“Owner”) whose address is 2963 Bryn mawr Dr. Portage, MI 49008. 

 

 

Lyster agrees to provide certain labor and materials for an improvement to the premises described in the 

signed Proposal(s), according to the specifications contained in the signed Proposal(s) attached, which form a 

part of this contract. Lyster will not perform any additional work other than contained in the signed Proposal(s), 

unless such additional work is authorized by signed Proposal(s) attached to this contract. 

 

 

Owner agrees to pay the sum of the fees listed on the signed Proposal(s) in the manner set forth in the 

payment schedule. If any payment is not made when due, Lyster may, in addition to any other rights they may 

have, commence legal proceedings to collect any amounts due hereunder, and the Owner shall be liable for all 

costs incurred in connection with the suit, including payment of reasonable attorney fees. Any amount 30 days 

past due will be subject to a 2% monthly service fee. 

 

 

The only warranty or guarantee applicable to the work to be performed hereunder is set forth on the 

attached signed Proposal(s). Lyster hereby expressly DISCLAIMS all other warranties or guarantees of any kind 

or nature, including implied Warranty of Merchantability or fitness for a particular purpose or habitability. Owner’s 

remedies and Lyster’s liability are both expressly limited by the terms and conditions contained in the signed 

Proposal(s). 

 

 

The parties hereby acknowledge reading and understanding the terms and conditions of this Contract and 

voluntarily agree to be bound hereby. The Owner has three business days to rescind this contract from the date of 

signing. If the Owner wants to rescind this contract after three days, Lyster has the option to retain 20% of the 

fees listed on the signed Proposal(s) to cover sales & administrative costs. 

 

 

 LYSTER EXTERIORS 

 

By: 

 

 

 

 

 

 

 

 

 

 

 

 

Brett Kimble 

 

 

 

 

 

Owner, 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Co-Owner, if any, 

 

 

Date: __________ 

 

 

 

 

Date: 

 

 

 

 

 

77

Page 77

Price: $_________________________ 

 

 

 

Payment Schedule: 50% down payment with a signed contract and proposal. Balance 

due on completion of work. 

 

Payment Style: 

Cash/Check 

Check #: 

Amount: 

GreenSky 

Plan #: 

Amount: 

Credit Card 

Card #: 

Exp. Date: CVV Code: 

Amount: 

 

 Returned check fee = $75.00 

 

 

 

 Brett Kimble 

 

 LYSTER EXTERIORS 

 

 By: ____________________________ 

 

 OWNER ACCEPTANCE 

 

 By: ____________________________ 

 

 

PLAN 2602 – No interest if paid in full within 6 months (Subject to credit approval. Minimum 

monthly payments required. Interest is billed during the promotional period, but all interest is waived if 

the purchase amount is paid off in full in 6 months. Making the minimum monthly payments will not 

pay off the entire purchase balance before the end of the promotional period) 

 

PLAN 2611 – No interest if paid in full within 12 months (Subject to credit approval. Minimum 

monthly payments required. Interest is billed during the promotional period, but all interest is waived if 

the purchase amount is paid off in full in 6 months. Making the minimum monthly payments will not 

pay off the entire purchase balance before the end of the promotional period) 

 

PLAN 2786 – Reduced Rate 9.99% for 96 months (Subject to credit approval. Fixed APR of 9.99% 

for 96 months. Payment Example: For $10,000 purchase on approval date, 96 payments of $151.68 

78

Page 78

Exhibit G: Captioned Photographic Evidence Portfolio 

 

 

 

 

 

 

 

 

Damaged OSB Subfloor 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exterior Sill Plate Water Damage 

79

Page 79

Deck Removal 

80

Deck Removal 

80

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