Majewski_Scott_Small_Claims_Supporting_Documents.pdf

Scott Majewski Petitioner V City Of Warren Respondent · 26-002788-TT

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Page 1

PETITIONER'S INDEX OF ATTACHMENTS 

Property Address: 24231 Stewart Ave, Warren, MI 48089 

Parcel Number: 12-13-25-259-013 

Petitioner: Scott Majewski 

Attachments: 

1. Board of Review Decision Notice 

2. Notice of Assessment 

3. Property Tax Bill 

4. Contract to Purchase / Closing Disclosure (Partial pages) 

5. Tax Valuation Appraisal - JNS Appraisals (Dated Jul 24, 2026 as of Dec 31, 2025 – 

$92,000 market value) 

6. Initial Mortgage Appraisal (Dated as of May 21, 2025 – $82,000 market value)

Page 2

WARRE 

City Assessor's Office 

One City Square, Suite 310 

Warren, Michigan 48093 

(586) 574-4532 

2026 

- NOTICE OF MARCH BOARD OF REVIEW ACTION 

MAJEWSKI SCOTT 

DATE: 

March 30, 2026 

24231 STEWART 

B.O.R. PETITION #: 

2026-M-089 

Warren, MI 48089 

PARCEL NUMBER: 

12-13-25-259-013 

PROPERTY ADDRESS: 24231 STEWART 

Dear Property Owner: 

The City of Warren Board of Review has reviewed the Assessor's records of your property and the 

information you supplied for your appeal. 

After due consideration of all the data necessary to compute your 

Assessed and Taxable Values, they have made the following determination: 

Original Assessed Value: 

68,840 

Board of Review Assessed Value: 

65,000 

Original Taxable Value: 

68,840 

Board of Review Taxable Value: 

65,000 

(If the above amounts are the same, no revisions have occurred) 

Property Classification: 

401 (RESIDENTIAL-IMPROVED) 

Residential 

Board of Review Decision: 

APPEAL GRANTED - PETITIONER PROVIDED SUFFICIENT DATA TO SUPPORT 

A VALUATION 

CHANGE. 

If you appealed the ASSESSED and/or TAXABLE VALUE of your property, or filed a POVERTY EXEMPTION request with the 

Board of Review, and you are not satisfied with their decision, 

you may further your appeal to the Michigan Tax Tribunal 

(MTT). 

If you elect to proceed with an appeal to the MTT, you must file a Small Claims Petition Form, available at 

https://www.michigan.gov/taxtrib. The MTT will then send you a Notice of Docket Number. 

For property classified as 

RESIDENTIAL, you MUST file your Petition no later than July 31. 

For property classified as COMMERCIAL, INDUSTRIAL, UTILITY, or PERSONAL, you MUST file your Petition no later than 

May 31. 

For Entire Tribunal appeals, Petitions should be mailed to: 

Michigan Tax Tribunal 

P.O. Box 30232 

Lansing, Michigan 48909 

If you appealed your PROPERTY CLASSIFICATION to the Board of Review, and you elect to proceed with an appeal of their 

decision, you must file the enclosed "PETITION FOR CHANGE OF PROPERTY CLASSIFICATION" form with the State Tax 

Commission (STC). Your letter and Petition form MUST be postmarked no later than June 30. 

Mail the letter to the following 

address: 

State Tax Commission 

P.O. Box 30471 

Lansing, Michigan 48909-7971 

If you have any questions regarding these procedures, please contact the Michigan Tax Tribunal: phone (517) 636-7551, email 

taxtrib@michigan.gov or the State Tax Commission: phone (517) 335-3429, email State-Tax-Commision@michigan.gov 

Secretary, Board of Review

Page 3

si Sy 

oe 

THIS IS NOT A TAX BILL 

L-4400 

Notice of Assessment, Taxable Valuation, and Property Classification 

wo 

This form is issued under the authority of Public Act 208 of 1893, Sec. 211.24c and Sec.211.34c, as amended. This is a model assessment notice to be used by the local assessor. 

PARCEL IDENTIFICATION 

CITY OF WARREN 

PARCEL NUMBER: 

12-13-25-259-013 

ASSESSOR'S OFFICE 

ONE CITY SQUARE, SUITE 310 

PROPERTY ADDRESS: 

WARREN, MI 48093-2397 

24231 STEWART 

OWNER'S NAME & ADDRESS/PERSON NAMED ON ASSESSMENT ROLL 

SCHOOL DISTRICT CODE: 50020 

EXEMPTIONS 

3361 

% Exempt As “Homeowners Principal Residence”: 100% 

MATEHERE. Ceeamr 

at 48089 

T6 

Pl 

HH 

% Exempt As “Qualified Agricultural Property”: 

24231 STEWART AVE 

% Exempt 

As “MBT Industrial Personal”: 

reso MI Fa 

I 

Wali 

li 

% Exempt 

As “MBT Commercial Personal”: 

1 

TERE ETE 

(EU 

[UTE 

Exempt 

As “Disabled Veteran or 

0 

Surviving Spouse”: 

Yes 

No 

Exempt As “Qualified Forest Property”:[_| Yes 

No 

Exempt 

As “Development Property”: 

] Yes X No 

LEGAL DESCRIPTION: 

NICOLAI ESTATE SUBDIVISION LOT 73 L.6 P.4C 

ACCORDING TO MCL 211.34c THIS PROPERTY IS CLASSIFIED AS: 

RESIDENTIAL 

PRIOR YEAR'S CLASSIFICATION: 

RESIDENTIAL 

CURRENT 

CHANGE FROM 

The change in taxable value will increase/decrease your tax bill for the 

PRIORAMOUNT 

[TENTATIVE AMOUNT| 

PRIOR YEAR TO 

2026 year by approximately: 

$880 

YEAR: 2025 

YEAR: 2026 

CURRENT YEAR 

1. TAXABLE VALUE: 

51,659 

68,840 

17,181 

2. ASSESSED VALUE: 

66,690 

68,840 

2,150 

3. TENTATIVE EQUALIZATION FACTOR: 

1.00000 

4. STATE EQUALIZED VALUE (SEV): 

66,690 

68,840 

2.150 

5. WAS THERE A TRANSFER OF OWNERSHIP IN 2025 THAT RESULTED IN A TAXABLE VALUE UNCAPPING? 

Yes 

[ 

|No 

6. ASSESSOR CHANGE REASON: 

Market Adjustment 

The 2026 Inflation Rate Multiplier is: 1.027 

Questions regarding the Notice of Assessment, Taxable Valuation, and Property Classification may be directed to the following: 

Name 

Telephone Number 

Email Address 

JAMES H. ELROD 

(586) 574-4532 

ASSESSINGINFO@CITYOFWARREN.ORG 

March Board of Review Appeal Information. The Board of Review will meet at the following dates and times: 

CITY HALL LOCATED AT: ONE CITY SQUARE, THIRD FLOOR VAN DYKE CONFERENCE ROOM. 

THE BOARD WILL BE IN SESSION TO RECEIVE IN PERSON APPOINTMENTS ON: 

MARCH 16 AND 18 2026 FROM 9:00 A.M. - 5:30 P.M. AND 

MARCH 17, 2026 FROM 1:00 P.M. - 9:00 P.M. 

TO APPEAL IN PERSON AN APPOINTMENT MUST BE MADE BY CONTACTING THE ASSESSOR'S 

OFFICE AT (586) 574-4532, BETWEEN THE HOURS OF 8:30 AM AND 5:00 PM. 

LETTER APPEALS WILL BE ACCEPTED BEGINNING MARCH 3 THROUGH MARCH 18 YOU MAY FILE 

A LETTER APPEAL WITHOUT A PERSONAL APPEARANCE. 

3361

Page 4

OFFICE OF THE TREASURER 

LORIE W BARNWELL 

ONE CITY SQUARE STE 200 

3 WW, 

R R gre N 

WARREN, MI 48093 

A 

| — 

586-574-4542 

2026 SUMMER INFORMATIONAL COPY 

To: MAJEWSKI SCOTT 

24231 STEWART 

Warren, MI 48089 

PRE/MBT% 

TAXABLE VALUE 

SEV 

Property Address: 

100.00 

65,000 

65,000 

24231 STEWART 

PARCEL I.D NUMBER 

SCHOOL DISTRICT 

12-13-25-259-013 

50020 / EASTPOINTE COMMUNITY 

Mortgage Company Name: 

RATE 

DESCRIPTION 

AMOUNT 

LOANCARE LLC 

27.10750 

City 

1,761.93 

USE POINT AND PAY FOR FREE WITH YOUR 

CHECKING OR SAVINGS ACCOUNT: 

6.00000 

SET 

390.00 

INTERNET: WWW.CITYOFWARREN.ORG 

6.08790 

Debt 

395.71 

18.00000 

Operating 

EXEMPT 

0.00000 

Supplemental 

0.00 

PLEASE SEE BACK OF BILL FOR ADDITIONAL 

1.37600 

M.C.C 

89.44 

PAYMENT OPTIONS. 

1.S.D. Debt 

0.16000 

ap 

ype 

EMAIL YOUR PROPERTY ADDRESS TO: 

4.52820 

2 

57a a8 

PAYMENTCONFIRMATION@CITYOFWARREN.ORG 

4.22290 

County (Summer) 

’ 

FOR CONFIRMATION OF THIS SUMMER'S PAYMENT. 

Admin Fee (Summer) 

14.54 

County (Winter) 

D.L.A 

Admin Fee (Winter) 

IF YOU PAY YOUR OWN TAXES, 

PLEASE 

Summer Taxes Due: 

3930.83 

CALL THE TREASURER AT 586-574-4542. 

OR 

Summer Installment 

1,947.66 

Previous Payments: 

0.00 

Balance Due 

3,230.83 

2026 SUMMER INFORMATIONAL COPY 

2026 WINTER INFORMATIONAL COPY 

ORIGINAL SENT TO MORTGAGE COMPANY 

ORIGINAL SENT TO MORTGAGE COMPANY 

MAJEWSKI SCOTT 

: 

MAJEWSKI SCOTT 

12-13-25-259-013 

3 

12-13-25-259-013 

24231 STEWART 

H 

24231 STEWART 

PAY FIRST SUMMER INSTALLMENT: 

1,947.66 

: 

OR 

: 

Winter Taxes Due 

TO BE BILLED IN DECEMBER 

PAY FULL SUMMER AMOUNT: 

3,230.83 

H 

DUE DATE: 

08/31/2026 

DUE DATE: 

03/01/2027 

FEVER 

OU TO AE

Page 5

Page 1 of 5

Rev. 8/24

CONTRACT TO PURCHASE

LISTING BROKER ____________________________________________

BUYER BROKER __________________________________________

LISTING AGENT _______________________________ ID# __________

BUYER AGENT _______________________________ ID# ___________

OFFICE ID#: ____________________________ P ___________________

OFFICE ID#: ____________________________ P ____________________

1. PROPERTY

The undersigned hereby offers and agrees to purchase the following land situated in the VILLAGE / TOWNSHIP / CITY of

_________________________________, __________________________ County, _________________ (zip code), Michigan, described as follows:

_______________________________________________________________________________________________________

(legal description) being

commonlyknown as ______________________________________________________________________, (

together with all improvements

and appurtenances, if any, now in or on the premises (unless specifically excluded herein), including but not limited to all buildings, fixtures, built-in

appliances, all window treatments including hardware, attached mirrors, attached shelving, attached brackets for televisions (excluding flat screen

televisions), all attached floor coverings, attached smart electronics and devices (including but not limited to: thermostats, doorbells, security cameras),

attached fireplace doors, screens, equipment, and gas logs, garage door openers and controls, all screens, storm windows, storm doors, awnings, shutters,

all landscaping, fences and mailboxes, all ceiling fans, any alarm system and all components thereof (unless rented), radio and television antennas, including

rotors and controls, permanent standby generators, all solar panels, central vacuum systems and attachments, water softener/treatment system (unless

rented), water pumps, pressure tanks (including all fuel in such tanks), incinerators, if any, and all gas, oil and mineral rights owned by Seller, AND

______________________________________________________________________________________________________________________________.

Excluded items: ________________________________________________________________________________________________________________.

ANY attached items NOT specifically EXCLUDED herein shall be considered included in the sale. Seller shall provide to Buyer a Bill of Sale

for all personal property conveyed at closing.

2. PRICE

Buyer agrees to pay a

of _____________________________________________ Dollars ($____________________) in

consideration for which Seller will provide a warranty deed subject to the existing building and use restrictions, easements, zoning ordinances, and rights of

way, if any, pursuant to the terms and covenants contained in this Agreement.

3. METHOD OF PAYMENT

All money must be paid in U.S. Dollars by wired funds, certified, cashiers or with a licensed title company check acceptable to

closing agent. Payment shall be made by the following method: (check appropriate paragraph letter)

CASH SALE

Buyer shall tender to Seller the outstanding balance of the purchase price at closing.

CASH SALE WITH NEW MORTGAGE

This Agreement is contingent upon the Buyer s ability to secure a ___________________ mortgage in the amount

of ___________________, and pay ___________________ down, plus mortgage costs, prepaid items, and adjustments in cash. Buyer agrees to apply for

such mortgage within ____ business days from

acceptance of this offer, at Buyer s own expense. Buyer agrees that in connection with any mortgage

application to a lender, Buyer will promptly comply with all such lender s requests for information required to process such loan application. If a firm

commitment for such mortgage cannot be obtained within ____ days from date of acceptance, Seller, at Seller s option, can declare in writing that this

Agreement is null and void, and the earnest money deposit shall be returned to Buyer. In the event Buyer is denied a mortgage commitment within the

previously described timeframe, Buyer shall furnish Seller with the lender s written verification of such mortgage denial along with a mutual release, and the

earnest money deposit shall be returned to Buyer.

SALE ON LAND CONTRACT

See attached LAND CONTRACT ADDENDUM.

SALE TO EXISTING MORTGAGE

Simple Assumption,

Requalification Required - see attached TERMS OF SALE ADDENDUM.

BUYER BROKER COMPENSATION

___% of the purchase price or $__________, as per the Buyer Agency

d Seller.

5. APPRAISAL CONTINGENCY (Check if applicable)

If the appraised value of the Property is less than the Purchase Price, Buyer may void this Agreement

and the earnest money deposit shall be returned to Buyer in full termination hereof, or Buyer may renegotiate this Agreement.

6. EARNEST MONEY DEPOSIT

Buyer shall tender $___________________ in the form of money order, cashier s check, wire transfer, ACH, personal check,

certified funds, within ____ days of acceptance by Seller. An additional $___________________ shall be deposited with Broker/Designated escrow Agent by

Buyer within ____ days after satisfactory private inspection (see paragraph 20). The total earnest money deposit shall equal $___________________. All

monies shall be held by Broker/Designated Escrow Agent in accordance with rules and regulations of the Michigan Department of Labor and Economic

Growth and shall be applied to Purchase Price at closing. If this Agreement is not acceptable by Seller, the earnest money deposit shall be refunded to Buyer.

The earnest money deposit shall be disbursed according to terms and conditions contained herein, or according to the terms of a mutual release agreement

when signed by all parties to this Agreement, or by a court order. Buyer acknowledges the receipt of

arnest Money Deposit Receipt

shall be attached hereto and fully incorporated herein. Designated Escrow Agent: ______________________________.

7. OCCUPANCY

Seller shall deliver, and Buyer shall accept, possession of the Property as follows: (check one)

IMMEDIATELY AFTER CLOSING. Seller must keep ALL utilities on until transferred to Buyer during the final closing process.

Seller occupying after closing see Occupancy Addendum.

Subject to Tenants Rights, see Tenancy Addendum.

(Initials) Seller______/______

(Initials) Buyer______/______

Dated:______________

Page 6

Page 5 of 5

Rev. 8/24

34. NOTICE OF AGENCY

Seller and Buyer acknowledge that they have received the form titled, Disclosure Regarding Real Estate Agency Relationships.

35. ALL PARTIES TO THIS AGREEMENT HAVE BEEN MADE AWARE OF THE AGENCY RELATIONSHIPS WITH THE REAL ESTATE BROKER(S) INVOLVED IN THIS

TRANSACTION.

36. ADDITIONAL DOCUMENTS ATTACHED

The following are attached hereto and are made a part hereof (CHECK ALL THAT APPLY).

Addendum to Contract to Purchase

Condominium/Homeowner Association Addendum

Dual Agency Agreement

FHA/VA Addendum

Land Contract Sale Addendum

Lead-Based Paint Seller s Disclosure

MLS Ticket #_____________________

Occupancy Addendum

Other Addendum: _____________________

Pool/Spa/Hot Tub/Sauna Addendum

Sale to Existing Mortgage Addendum

Seller s Disclosure Statement

Sprinkler System Addendum

Tenancy Addendum

Vacant Land Disclosure

48/72 Hour Contingency Agreement

37. ADDITIONAL CONDITIONS (if any)

38. EXPIRATION

This offer is valid until___________________________ (date) ___________ (time) ___ a.m. / ___ p.m. (select with an

39. OFFER ACCEPTANCE

In consideration of the Broker s effort to obtain the Seller approval, Buyer reserves the option to withdraw this offer at any time

prior to the Seller signed acceptance, and the earnest money deposit shall be returned forthwith to the Buyer. If this offer is accepted by the Seller, prior to

a withdrawal by Buyer, the Buyer agrees to complete the purchase of said property in accordance with the terms herein. Any withdrawal by Buyer shall only

be effective upon delivery to Seller s agent, or to Seller if Seller has no agent.

40. COUNTEROFFER

In the event Seller makes any written change to any of the language of the Agreement as originally offered to Seller, such change shall

constitute a COUNTEROFFER by Seller, and shall require subsequent written acceptance by the Buyer in order to bind the parties.

41. ACKNOWLEDGMENT

Upon signing this Agreement, Buyer hereby makes an offer to be bound by the terms and conditions contained herein. Buyer

acknowledges receipt of a copy of this Agreement, and also acknowledges receipt of the Michigan Seller s Disclosure Statement, the Lead-Based Paint

Disclosure, and the document titled, Protect Your Family from Lead in Your Home, if applicable.

_________________________________________________________

BUYER:

DATE

_______________________________________

_________________________________________________________

AGENT:

BUYER:

DATE

42. ACCEPTANCE

Upon signing this Agreement, Seller hereby agrees to be bound by the terms and conditions contained herein. Seller acknowledges

receipt of a copy of this Agreement. Seller further agrees that the previously described Listing Broker and Selling Broker did procure this Agreement and did

bring about this sale. Seller hereby directs that

no further offers be presented after acceptance of this offer. The

foregoing offer is accepted, and the undersigned agree to sell the described Property to the Buyer in accordance with the terms stated herein.

_________________________________________________________

SELLER:

DATE

_______________________________________

_________________________________________________________

AGENT:

SELLER:

DATE

Buyer hereby acknowledges receipt of Seller s signed acceptance/counteroffer of the Agreement _______________________DATE: _________

(initial or sign)

___________________________________

Listing Agent (Broker) is a:

Dual Agent (with Dual Agency Agreement)

Transaction Coordinator

___________________________________

Selling Agent (Broker) is a:

(with Exclusive Buyer Agency Agreement)

Dual Agent (with Dual Agency Agreement)

Transaction Coordinator

Page 7

ADDENDUM /AMENDMENT

DATE _____________________

This is an Addendum/Amendment to and becomes a part of the Purchase Agreement dated

____________________________________________________________ regarding property located at:

_______________________________________________________________________________________.

_______________________________________

(L.S.)

Seller

____________________________________

_______________________________________

(L.S.)

Witness

Seller

____________________________________

_______________________________________

(L.S.)

Witness

Purchaser

_______________________________________

(L.S.)

Purchaser

DISCLAIMER: This form is provided as a service of the Greater Metropolitan Association of Realtors to its members. Those who use this form are expected to review both the form and the

details of the particular transaction to ensure that each action of this form is appropriate for the transaction. The Greater Metropolitan Association of Realtors is not responsible for the use

or misuse of this form, for misrepresentation, or warranties made in connection with this form.

June 19th, 2025

24231 STEWART Avenue, Warren, Michigan 48089

Addendum to the Purchase Agreement

This Addendum to the Purchase Agreement, made and entered into by the undersigned parties, shall amend and supersede any

conflicting provisions in the original contract, as follows:

1. Purchase Price: The purchase price for the property shall be $87,000.00

2. Seller Concessions: There shall be no seller concessions.

3. Property Condition: The property is being sold in "as-is" condition. The Buyer accepts the property in its present condition, and

the Seller will not be responsible for any repairs or improvements.

4. Water Heater: The Buyer acknowledges that Consumer Energy has requested the existing water heater not be turned on and that

it must be replaced. The Buyer agrees to assume responsibility for replacing the water heater at their own expense following the

closing of this transaction. The Seller, Owner, and Listing Agent make no warranties as to the condition of the existing water heater.

5. Closing Date: The closing of this transaction shall occur on or before July 3, 2025.

All Other Terms: All other terms and conditions of the original contract remain unchanged and in full force and effect.

10ef9b8

54e7aeb

Page 8

This form is a statement of final loan terms and closing costs. Compare this 

Closing Disclosure 

document with your Loan Estimate. 

Closing Information 

Transaction Information 

Loan Information 

Date Issued 

07/25/2025 

Borrower 

Scott Majewski 

Loan Term 

30 years 

Closing Date 

07/28/2025 

1262 Casgrain Street 

Purpose 

Purchase 

Disbursement Date 

07/28/2025 

port 

Abies 48209 

Product 

Fixed Rate 

eller 

= 

Settlement Agent 

Top Choice Title, LLC 

en A 

a ACENE 

Loan Type 

[X) Conventional (JFHA 

File # 

202506-15 

Warren, MI 48089 

Ova DO 

Property 

24231 Stewart Ave 

Lender 

CMG Mortgage, Inc. dba Capital 

LoanID# 

 RCE0000194652 

Warren, MI 48089 

Mortgage Funding 

MICH 

33474957 

Sale Price 

$87,000 

Loan Terms 

Can this amount increase after closing? 

Loan Amount 

S76, 100 

NO 

Interest Rate 

6.625% 

NO 

Monthly Principal & Interest 

$487.28 

NO 

See Projected Payments below for your 

Estimated Total Monthly Payment 

Does the loan have these features? 

Prepayment Penalty 

NO 

Balloon Payment 

NO 

Projected Payments 

Payment Calculation 

Years 1-11 

Years 12-30 

Principal & Interest 

$487.28 

$487.28 

Mortgage Insurance 

+ 

20.93 

+ 

— 

Estimated Escrow 

Amount can increase over time 

he 

313.13 

i 

313.13 

Estimated Total 

Monthly Payment 

$821.34 

$800.41 

This estimate includes 

In escrow? 

Estimated Taxes, Insurance 

X Property Taxes 

YES 

& Assessments 

$3 13.13 

BJ Homeowner's Insurance 

YES 

Amount can increase over time 

a month 

Oother: 

See page 4 for details 

See Escrow Account on page 4 for details. You must pay for other property 

costs separately. 

Costs at Closing 

% 

Includes $3,505.00 in Loan Costs + $2,695.04 in Other 

C 

- 

cl 

Costs 

2 

2 

1695. 

er 

Costs - SO 

hel 

ed 

$6,200.04 

in Lender Credits. See page 2 for details. 

Cash to Close 

$6,925.59 

Includes Closing Costs. See Calculating Cash to Close on page 3 for details. 

18566.1667 

CLOSING DISCLOSURE 

PAGE 1 OF 5 - LOAN ID #RCE0000194652

Page 9

Use this table to see what has changed from your Loan Estimate. 

Loan Estimate 

Final 

Did this change? 

Total Closing Costs (J) 

$10,035.00 

$6,200.04 

YES » See Total Loan Costs (D) and Total Other Costs (I) 

Closing Costs Paid Before Closing 

$0 

261,635.50 

YES « You paid these Closing Costs before closing 

Closing Costs Financed 

(Paid from your Loan Amount) 

So 

$0 

NO 

Down Payment/Funds from Borrower 

$5,450.00 

$10,900.00 

YES = You increased this payment. See details in Sections K and L. 

Deposit 

-$1,000.00 

-$1,000.00 

NO 

Funds for Borrower 

$0 

$0 

NO 

Seller Credits 

So 

$0 

NO 

Adjustments and Other Credits 

-$8,800.00 

-$7,538.95 

YES * See details in Sections K and L 

Cash to Close 

$5,685.00 

$6,925.59 

Summaries of Transacti 

Use this table to see a summary of your transaction. 

BORROWER'S TRANSACTION 

SELLER'S TRANSACTION 

K. Due from Borrower at Closing 

$94,025.59 

M. Due to Seller at Closing 

Sale Price of Property 

$87,000.00 

Sale Price of Property 

Sale Price of Any Personal Property Included in Sale 

Sale Price of Any Personal Property Included in Sale 

Closing Costs Paid at Closing (J) 

$4,564.54 

Other 

Adjustments 

Adjustments for Items Paid by Seller in Advance 

Adjustments for tems Paid by Seller in Advance 

City/Town Taxes 

07/28/25 

to 06/30/25 

$2,434.74 

City/Town Taxes 

to 

County Taxes 

07/28/25 to 11/30/25 

$26.31 

County Taxes 

to 

Assessments 

to 

Assessments 

to 

Other 

L. Paid Already by or on Behalf of Borrower at Closing 

$87,100.00 

N. Due from Seller at Closing 

Deposit 

$1,000.00 

Excess Deposit 

_ Loan Amount 

$76,100.00 

Closing Costs Paid at Closing (J) 

Existing Loan(s) Assumed or Taken Subject to 

Existing Loan(s) Assumed or Taken Subject to 

Payoff of First Mortgage Loan 

Seller Credit 

Payoff of Second Mortgage Loan 

Other Credits 

Seller Credit 

Adjustments 

* MSHDA DPA FUNDS 

$10,000.00 

Adjustments 

for Items Unpaid by Seller 

Adjustments for Items Unpaid by Seller 

City/Town Taxes 

to 

City/Town Taxes 

@ 

"County Taxes 

to 

© County Taxes 

to 

- Assessments 

to 

Assessments 

to 

CALCULATION 

CALCULATION 

Total Due from Borrower at Closing (K) 

. 

$94,025.59 

Total Due to Seller at Closing (M) 

Total Paid Already 

by or on Behalf of Borrower at Closing (L) 

-$87,100.00 

Total Due from Seller at Closing (N) 

$6,925.59 

Cash OJFrom (To Seller 

Cash to Close XFrom 

[JTo Borrower 

EX 

18566.1667 

CLOSING DISCLOSURE 

PAGE 3 OF 5 

+ LOAN ID #RCE0000194652

Page 10

File No.

APPRAISAL OF

LOCATED AT:

CLIENT:

AS OF:

BY:

24231

JNS Appraisals, LLC

Certified General Appraiser

Jamey Stamper

December 31, 2025

Warren, MI, 48089

24231 Stewart Avenue

Scott Majewski and/or any assigns

Warren, MI 48089

24231 Stewart Avenue

Single-Family Detached Dwelling

Page 11

File No.

File Number:

In accordance with your request, I have appraised the real property at:

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

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

In my opinion, the defined value of the property as of

is:

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

final opinion of value, descriptive photographs, assignment conditions and appropriate certifications.

24231

JNS Appraisals, LLC

3746 Grindley Park St., Dearborn, MI 48124

JNS Appraisals, LLC

Certified General Appraiser

Jamey Stamper

Respectfully submitted,

Ninety-Two Thousand Dollars

$92,000

December 31, 2025

Warren, MI 48089

24231 Stewart Avenue

Scott Majewski and/or any assigns:

24231

Warren, MI, 48089

24231 Stewart Avenue

Scott Majewski and/or any assigns

July 24, 2026

Page 12

Residential Appraisal Report

File No.

The purpose of this appraisal report is to provide the client with a credible opinion of the defined value of the subject property, given the intended use of the appraisal.

Client Name/Intended User

E-mail

Client Address

City

State

Zip

Additional Intended User(s)

Intended Use

PURPOSE

Property Address

City

State

Zip

Owner of Public Record

County

Legal Description

Assessor's Parcel #

Tax Year

R.E. Taxes $

Neighborhood Name

Map Reference

Census Tract

Property Rights Appraised

Fee Simple

Leasehold

Other (describe)

SUBJECT

My research

did

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

Prior Sale/Transfer:

Date

Price

Source(s)

Analysis of prior sale or transfer history of the subject property (and comparable sales, if applicable)

Offerings, options and contracts as of the effective date of the appraisal

SALES HISTORY

Neighborhood Characteristics

One-Unit Housing Trends

One-Unit Housing

Present Land Use %

Location

Urban

Suburban

Rural

Property Values

Increasing

Stable

Declining

PRICE

AGE

One-Unit

%

Built-Up

Over 75%

25-75%

Under 25%

Demand/Supply

Shortage

In Balance

Over Supply

$(000)

(yrs)

2-4 Unit

%

Growth

Rapid

Stable

Slow

Marketing Time

Under 3 mths

3-6 mths

Over 6 mths

Low

Multi-Family

%

Neighborhood Boundaries

High

Commercial

%

Pred.

Other

%

Neighborhood Description

Market Conditions (including support for the above conclusions)

NEIGHBORHOOD

Dimensions

Area

Shape

View

Specific Zoning Classification

Zoning Description

Zoning Compliance

Legal

Legal Nonconforming (Grandfathered Use)

No Zoning

Illegal (describe)

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

Yes

No

If No, describe.

Utilities

Public

Other (describe)

Public

Other (describe)

Off-site Improvements—Type

Public

Private

Electricity

Water

Street

Gas

Sanitary Sewer

Alley

Site Comments

SITE

GENERAL DESCRIPTION

FOUNDATION

EXTERIOR DESCRIPTION

materials

INTERIOR

materials

Units

One

One w/Acc. unit

Concrete Slab

Crawl Space

Foundation Walls

Floors

# of Stories

Full Basement

Partial Basement

Exterior Walls

Walls

Type

Det.

Att.

S-Det./End Unit

Basement Area

sq. ft.

Roof Surface

Trim/Finish

Existing

Proposed

Under Const.

Basement Finish

% Gutters & Downspouts

Bath Floor

Design (Style)

Outside Entry/Exit

Sump Pump

Window Type

Bath Wainscot

Year Built

Storm Sash/Insulated

Car Storage

None

Effective Age (Yrs)

Screens

Driveway

# of Cars

Attic

None

Heating

FWA

HW

Radiant Amenities

WoodStove(s) #

Driveway Surface

Drop Stair

Stairs

Other

Fuel

Fireplace(s) #

Fence

Garage

# of Cars

Floor

Scuttle

Cooling

Central Air Conditioning

Patio/Deck

Porch

Carport

# of Cars

Finished

Heated

Individual

Other

Pool

Other

Att.

Det.

Built-in

Appliances

Refrigerator

Range/Oven

Dishwasher

Disposal

Microwave

Washer/Dryer

Other (describe)

Finished area above grade contains:

Rooms

Bedrooms

Bath(s)

Square Feet of Gross Living Area Above Grade

Additional Features

Comments on the Improvements

IMPROVEMENTS

Page 1 of 4

This form Copyright © 2005-2010 ACI Division of ISO Claims Services, Inc., All Rights Reserved.

(gPAR™) General Purpose Appraisal Report 05/2010

GPAR1004_10 05262010

 Produced using ACI software, 800.234.8727 www.aciweb.com

24231

Summary

Tax appeal proceedings

None

48089

MI

Warren

24231 Stewart Avenue

smajewski01@gmail.com

Scott Majewski and/or any assigns

X

2629.00

03131 - Warren

Nicolai Estate Sub

3,279.00

2025

12-13-25-259-013

NICOLAI ESTATE SUBDIVISION LOT 73 L.6 P.46

Macomb

Scott Majewski

48089

MI

Warren

24231 Stewart Avenue

There were no listings, offerings, options, or contracts that the appraiser was aware 

of as of the effective date of the appraisal.

The prior transfer for the subject was an arm's length 

conventional sale with 10 days on market and no seller concessions. Original list price was $90,000. There were no additional transfers 

of the subject for the previous three years.

Comparable 4 included the only previous transfer for the prior year for the comparable sales. Realcomp MLS#20250012530 and 

Assessor Records indicates the previous transfer on 3/17/2025 was a private cash sale for 31k with no seller concessions and 2 days 

on market. The difference in value between the two transfers is attributed to updates/maintenance performed in the interim and market 

movement.

Assessor Records/Realcomp MLS#20250031292

$87,000

07/28/2025

X

See Attached Addendum

See Attached Addendum

25

Ind

3

1

1

70

70

100

1

125

240

50

10 Mile to the north, 9 Mile to the south, Groesbeck to the west, 

Warren/Eastpointe municipal border to the east

X

X

X

X

X

X

The only easements noted were those characteristic of utility purposes.

None

X

Asphalt

X

X

X

X

See Attached 

Addendum

X

X

One Family Residential

R-1C

Neutral;Residential

Rectangular

8976 Sq.Ft.

66' x 136'

See Attached Addendum

The subject dwelling includes a low clearance second floor with finished living space and bathroom. The garage includes 

a semi-finished loft (no heating/cooling). The basement is a low clearance michigan style basement with exterior access only.

689

1

1

3

X

X

2

X

Concrete/Avg

1

X

C-tile/Avg

C-tile/Avg

Wood/Avg

Drywall/Poor-Avg

Wd/Vinyl/Fair-Avg

Balcony

X

None

Concrete

X

1/0

X

C-link

X

0

0

Aluminum/Avg

None

DPVinyl/Avg

Aluminum/Avg

Asphalt/Poor-Good

Alum/Vinyl/Fair-Avg

Concrete/Fair-Avg

X

X

No interior access to basement

Michigan basement

X

0

689

X

X

X

15-20

1940

Bungalow

X

X

1.5

X

Page 13

Residential Appraisal Report

File No.

FEATURE

SUBJECT

Address

Proximity to Subject

Sale Price

$

Sale Price/Gross Liv. Area

$

sq. ft.

Data Source(s)

Verification Source(s)

VALUE ADJUSTMENTS

DESCRIPTION

Sale or Financing

Concessions

Date of Sale/Time

Location

Leasehold/Fee Simple

Site

View

Design (Style)

Quality of Construction

Actual Age

Condition

Above Grade

Total

Bdrms.

Baths

Room Count

Gross Living Area

sq. ft.

Basement & Finished

Rooms Below Grade

Functional Utility

Heating/Cooling

Energy Efficient Items

Garage/Carport

Porch/Patio/Deck

Net Adjustment (Total)

Adjusted Sale Price

of Comparables

COMPARABLE SALE NO. 1

$

$

sq. ft.

DESCRIPTION

+(-) $ Adjustment

Total

Bdrms.

Baths

sq. ft.

+

-

$

Net Adj.

%

Gross Adj.

% $

COMPARABLE SALE NO. 2

$

$

sq. ft.

DESCRIPTION

+(-) $ Adjustment

Total

Bdrms.

Baths

sq. ft.

+

-

$

Net Adj.

%

Gross Adj.

% $

COMPARABLE SALE NO. 3

$

$

sq. ft.

DESCRIPTION

+(-) $ Adjustment

Total

Bdrms.

Baths

sq. ft.

+

-

$

Net Adj.

%

Gross Adj.

% $

Summary of Sales Comparison Approach

SALES COMPARISON APPROACH

COST APPROACH TO VALUE

Site Value Comments

ESTIMATED

REPRODUCTION OR

REPLACEMENT COST NEW

Source of cost data

Quality rating from cost service

Effective date of cost data

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

OPINION OF SITE VALUE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . = $

Dwelling

Sq. Ft. @ $

. . . . . . . . . . . . = $

Sq. Ft. @ $

. . . . . . . . . . . . = $

Garage/Carport

Sq. Ft. @ $

. . . . . . . . . . . . = $

Total Estimate of Cost-New

. . . . . . . . . . . . = $

Less

Physical

Functional

External

Depreciation

= $ (

)

Depreciated Cost of Improvements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . = $

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

INDICATED VALUE BY COST APPROACH . . . . . . . . . . . . . . . . . . . . . .

= $

COST APPROACH

INCOME APPROACH TO VALUE

Estimated Monthly Market Rent $

X Gross Rent Multiplier

= $

Indicated Value by Income Approach

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

INCOME

Indicated Value by: Sales Comparison Approach $

Cost Approach (if developed) $

Income Approach (if developed) $

This appraisal is made

"as is,"

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

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

subject to the following: 

Based on the scope of work, assumptions, limiting conditions and appraiser's certification, my (our) opinion of the defined value of the real property

that is the subject of this report is $

as of

, which is the effective date of this appraisal.

RECONCILIATION

Page 2 of 4

This form Copyright © 2005-2010 ACI Division of ISO Claims Services, Inc., All Rights Reserved.

(gPAR™) General Purpose Appraisal Report 05/2010

GPAR1004_10 05262010

 Produced using ACI software, 800.234.8727 www.aciweb.com

24231

Summary

1

Second floor bed

1 bath

2nd floor bath/lav

304 sf

2nd floor

Porch/Patio

2 car detached

Standard

FWA C/Air

Standard

None

689sf0sfin

689

15.00

1

1

3

C3-C4

85

Q4

Bungalow

N;Res

8976 sf

Fee Simple

N;Res

0.00

Warren, MI 48089

24231 Stewart Avenue

91,500

12.1

10.9

9,000

X

1

2,000

None

1,600

200 sf

Porch/Patio

2,000

None

None noted

1,500

FWA None

Standard

None

100

660sf0sfin

400

660

1

2

5

-500

0

C3

0

98

Q4

Bungalow

N;Res;

1,400

3500 sf

Fee Simple

N;Res;

500

s06/25;c05/25

Conv;0

ArmLth

Assessor Record/PRD

RealComp #81025008617;DOM 53

125.00

82,500

2.96 MILES SW

Warren, MI 48091

7259 Republic Avenue

86,200

14.2

7.8

6,200

X

-500

2

2,000

None

2,900

114 sf

0

Porch/Patio

1,000

1 car detached

None noted

FWA C/Air

Standard

None

1,700

0sf0sfin

-2,100

829

1

1

4

0

0

C4

0

87

Q4

Bungalow

N;Res

1,200

4025 sf

Fee Simple

N;Res;

s12/25;c11/25

Conv;0

ArmLth

Assessor Record/PRD

RealComp #58050193415;DOM 7

96.50

80,000

0.95 MILES SW

Warren, MI 48089

13696 Knox Avenue

127,331

10.7

-2.1

2,669

X

1

2,000

None

-800

360 sf

0

Porch

2 car detached

None noted

1,500

FWA None

Standard

None

1,700

0sf0sfin

-500

720

1

1

3

0

C3

85

Q4

Bungalow

N;Res;

400

7228 sf

Fee Simple

N;Res;

s11/25;c11/25

-6,969

FHA;6969

ArmLth

Assessor Record/PRD

RealComp #58050191569;DOM 20

180.56

130,000

0.28 MILES NE

Warren, MI 48089

24650 Stewart Avenue

See Attached Addendum

0

0

0

0

0

440

0

Bsmt: 689 Sq.Ft.

0

689

Given the age of the subject and subsequent difficulty in 

accurately identifying all forms of accrued depreciation, the cost 

approach to value will not be developed.

See Attached Addendum

93,600

80.00

1,170.00

December 31, 2025

92,000

See Attached Addendum

X

The cost approach was not developed for reasons stated in the respective section of this report. The income approach was developed 

and used in support of the sales comparison approach given the subject market is primarily owner occupied. The sales comparison 

approach was developed and is considered the primary indication of value given it is the principle of substitution that is believed to be 

the main motivating force for investors in the market area. Exposure time is estimated at < 90 days.

93,600

N/A

92,000

Jamey Stamper

Page 14

Residential Appraisal Report

File No.

FEATURE

SUBJECT

Address

Proximity to Subject

Sale Price

$

Sale Price/Gross Liv. Area

$

sq. ft.

Data Source(s)

Verification Source(s)

VALUE ADJUSTMENTS

DESCRIPTION

Sale or Financing

Concessions

Date of Sale/Time

Location

Leasehold/Fee Simple

Site

View

Design (Style)

Quality of Construction

Actual Age

Condition

Above Grade

Total

Bdrms.

Baths

Room Count

Gross Living Area

sq. ft.

Basement & Finished

Rooms Below Grade

Functional Utility

Heating/Cooling

Energy Efficient Items

Garage/Carport

Porch/Patio/Deck

Net Adjustment (Total)

Adjusted Sale Price

of Comparables

COMPARABLE SALE NO. 4

$

$

sq. ft.

DESCRIPTION

+(-) $ Adjustment

Total

Bdrms.

Baths

sq. ft.

+

-

$

Net Adj.

%

Gross Adj.

% $

COMPARABLE SALE NO. 5

$

$

sq. ft.

DESCRIPTION

+(-) $ Adjustment

Total

Bdrms.

Baths

sq. ft.

+

-

$

Net Adj.

%

Gross Adj.

% $

COMPARABLE SALE NO. 6

$

$

sq. ft.

DESCRIPTION

+(-) $ Adjustment

Total

Bdrms.

Baths

sq. ft.

+

-

$

Net Adj.

%

Gross Adj.

% $

Summary of Sales Comparison Approach

SALES COMPARISON APPROACH

Additional Comparables

This form Copyright © 2005-2010 ACI Division of ISO Claims Services, Inc., All Rights Reserved.

(gPAR™) General Purpose Appraisal Report 05/2010

GPAR1004_10 05262010

 Produced using ACI software, 800.234.8727 www.aciweb.com

24231

Summary

1

Second floor bed

1 bath

2nd floor bath/lav

304 sf

2nd floor

Porch/Patio

2 car detached

Standard

FWA C/Air

Standard

None

689sf0sfin

689

15.00

1

1

3

C3-C4

85

Q4

Bungalow

N;Res

8976 sf

Fee Simple

N;Res

0.00

Warren, MI 48089

24231 Stewart Avenue

104,200

10.7

9.7

9,200

X

-500

2

1 bath

2,100

163 sf

0

Porch

2,000

None

None noted

FWA C/Air

Standard

None

1,700

0sf0sfin

600

651

2,000

0

0

3

500

0

C3

0

88

Q4

Bungalow

N;Res;

800

5680 sf

Fee Simple

N;Res;

s10/25;c10/25

Cash;0

ArmLth

Assessor Record/PRD

RealComp #58050182254;DOM 71

145.93

95,000

0.41 MILES NE

Eastpointe, MI 48021

24591 Valley Avenue

103,650

7.1

3.7

3,650

X

1

2,000

None

2,000

168 sf

0

Porch/Patio

2 car detached

None noted

FWA C/Air

Standard

None

-100

729sf0sfin

-900

746

1

2

4

-500

0

C4

0

100

Q4

Bungalow

N;Res

900

5368 sf

Fee Simple

N;Res;

500

s07/25;c06/25

-250

Conv;250

ArmLth

Assessor Record/PRD

RealComp #58050178847;DOM 6

134.05

100,000

0.83 MILES SE

Eastpointe, MI 48021

22079 Oakwood Avenue

143,600

7.7

-1.0

1,400

X

1

1 bath

-600

347 sf

0

Porch/Patio

1,000

1 car detached

None noted

1,500

FWA None

Standard

None

0

693sf0sfin

-200

703

1

2

4

-500

0

C3

85

Q4

Bungalow

N;Res;

1,200

4360 sf

Fee Simple

N;Res;

1,200

s02/25;c02/25

-5,000

Conv;5000

ArmLth

Public and County Record

RealComp #58050162504;DOM 36

206.26

145,000

1.65 MILES SE

Eastpointe, MI 48021

22801 Lambrecht Avenue

Page 15

Residential Appraisal Report

File No.

FEATURE

SUBJECT

Address

Proximity to Subject

Sale Price

$

Sale Price/Gross Liv. Area

$

sq. ft.

Data Source(s)

Verification Source(s)

VALUE ADJUSTMENTS

DESCRIPTION

Sale or Financing

Concessions

Date of Sale/Time

Location

Leasehold/Fee Simple

Site

View

Design (Style)

Quality of Construction

Actual Age

Condition

Above Grade

Total

Bdrms.

Baths

Room Count

Gross Living Area

sq. ft.

Basement & Finished

Rooms Below Grade

Functional Utility

Heating/Cooling

Energy Efficient Items

Garage/Carport

Porch/Patio/Deck

Net Adjustment (Total)

Adjusted Sale Price

of Comparables

COMPARABLE SALE NO. 7

$

$

sq. ft.

DESCRIPTION

+(-) $ Adjustment

Total

Bdrms.

Baths

sq. ft.

+

-

$

Net Adj.

%

Gross Adj.

% $

COMPARABLE SALE NO. 8

$

$

sq. ft.

DESCRIPTION

+(-) $ Adjustment

Total

Bdrms.

Baths

sq. ft.

+

-

$

Net Adj.

%

Gross Adj.

% $

COMPARABLE SALE NO. 9

$

$

sq. ft.

DESCRIPTION

+(-) $ Adjustment

Total

Bdrms.

Baths

sq. ft.

+

-

$

Net Adj.

%

Gross Adj.

% $

Summary of Sales Comparison Approach

SALES COMPARISON APPROACH

Additional Comparables

This form Copyright © 2005-2010 ACI Division of ISO Claims Services, Inc., All Rights Reserved.

(gPAR™) General Purpose Appraisal Report 05/2010

GPAR1004_10 05262010

 Produced using ACI software, 800.234.8727 www.aciweb.com

24231

Summary

1

Second floor bed

1 bath

2nd floor bath/lav

304 sf

2nd floor

Porch/Patio

2 car detached

Standard

FWA C/Air

Standard

None

689sf0sfin

689

15.00

1

1

3

C3-C4

85

Q4

Bungalow

N;Res

8976 sf

Fee Simple

N;Res

0.00

Warren, MI 48089

24231 Stewart Avenue

114,400

11.6

9.0

9,400

X

1

2,000

None

3,100

100 sf

0

Porch

2,000

None

None noted

1,500

FWA None

Standard

None

-100

740sf0sfin

-800

740

1

2

4

-500

C3-C4

85

Q4

Bungalow

N;Res

1,200

4140 sf

Fee Simple

N;Res;

1,000

s01/25;c01/25

Cash;0

ArmLth

Assessor Record/PRD

RealComp #20240067538;DOM 129

141.89

105,000

0.96 MILES SW

Warren, MI 48089

13750 Marshall Avenue

86,200

12.6

7.9

6,300

X

1

2,000

None

2,200

160 sf

0

Porch

2 car detached

None noted

1,500

FWA None

Standard

None

1,700

0sf0sfin

-500

719

1

2

4

-500

0

C3

0

101

Q4

Bungalow

N;Res;

-900

12400 sf

Fee Simple

N;Res;

800

s01/25;c12/24

FHA;0

ArmLth

Assessor Record/PRD

RealComp #20240084380;DOM 37

111.13

79,900

0.20 MILES SW

Warren, MI 48089

23659 Bolam Avenue

0

0.0

0.0

0

X

Page 16

Residential Appraisal Report

File No.

Scope of Work, Assumptions and Limiting Conditions

Scope of work is defined in the Uniform Standards of Professional Appraisal Practice as " the type and extent of research and analyses in an

assignment." In short, scope of work is simply what the appraiser did and did not do during the course of the assignment. It includes, but is not

limited to: the extent to which the property is identified and inspected, the type and extent of data researched, the type and extent of analyses applied

to arrive at opinions or conclusions.

The scope of this appraisal and ensuing discussion in this report are specific to the needs of the client, other identified intended users and to the

intended use of the report. This report was prepared for the sole and exclusive use of the client and other identified intended users for the identified

intended use and its use by any other parties is prohibited. The appraiser is not responsible for unauthorized use of the report.

The appraiser's certification appearing in this appraisal report is subject to the following conditions and to such other specific conditions as are

set forth by the appraiser in the report. All extraordinary assumptions and hypothetical conditions are stated in the report and might have affected the

assignment results.

1. The appraiser assumes no responsibility for matters of a legal nature affecting the property appraised or title thereto, nor does the appraiser render any opinion as to the title, which is

assumed to be good and marketable. The property is appraised as though under responsible ownership.

2. Any sketch in this report may show approximate dimensions and is included only to assist the reader in visualizing the property. The appraiser has made no survey of the property.

3. The appraiser is not required to give testimony or appear in court because of having made the appraisal with reference to the property in question, unless arrangements have been

previously made thereto.

4. Neither all, nor any part of the content of this report, copy or other media thereof (including conclusions as to the property value, the identity of the appraiser, professional designations,

or the firm with which the appraiser is connected), shall be used for any purposes by anyone but the client and other intended users as identified in this report, nor shall it be conveyed by

anyone to the public through advertising, public relations, news, sales, or other media, without the written consent of the appraiser.

5. The appraiser will not disclose the contents of this appraisal report unless required by applicable law or as specified in the Uniform Standards of Professional Appraisal Practice.

6. Information, estimates, and opinions furnished to the appraiser, and contained in the report, were obtained from sources considered reliable and believed to be true and correct.

However, no responsibility for accuracy of such items furnished to the appraiser is assumed by the appraiser.

7. The appraiser assumes that there are no hidden or unapparent conditions of the property, subsoil, or structures, which would render it more or less valuable. The appraiser assumes

no responsibility for such conditions, or for engineering or testing, which might be required to discover such factors. This appraisal is not an environmental assessment of the property and

should not be considered as such.

8. The appraiser specializes in the valuation of real property and is not a home inspector, building contractor, structural engineer, or similar expert, unless otherwise noted. The appraiser

did not conduct the intensive type of field observations of the kind intended to seek and discover property defects. The viewing of the property and any improvements is for purposes of

developing an opinion of the defined value of the property, given the intended use of this assignment. Statements regarding condition are based on surface observations only. The

appraiser claims no special expertise regarding issues including, but not limited to: foundation settlement, basement moisture problems, wood destroying (or other) insects, pest infestation,

radon gas, lead based paint, mold or environmental issues. Unless otherwise indicated, mechanical systems were not activated or tested.

This appraisal report should not be used to disclose the condition of the property as it relates to the presence/absence of defects. The client is invited and encouraged to employ qualified

experts to inspect and address areas of concern. If negative conditions are discovered, the opinion of value may be affected.

Unless otherwise noted, the appraiser assumes the components that constitute the subject property improvement(s) are fundamentally sound and in

working order.

Any viewing of the property by the appraiser was limited to readily observable areas. Unless otherwise noted, attics and crawl space areas were not accessed. The appraiser did not move

furniture, floor coverings or other items that may restrict the viewing of the property.

9. Appraisals involving hypothetical conditions related to completion of new construction, repairs or alteration are based on the assumption that such completion, alteration or repairs will

be competently performed.

10. Unless the intended use of this appraisal specifically includes issues of property insurance coverage, this appraisal should not be used for such purposes. Reproduction or

Replacement cost figures used in the cost approach are for valuation purposes only, given the intended use of the assignment. The Definition of Value used in this assignment is unlikely

to be consistent with the definition of Insurable Value for property insurance coverage/use.

11. The ACI General Purpose Appraisal Report (GPAR™) is not intended for use in transactions that require a Fannie Mae 1004/Freddie Mac 70 form,

also known as the Uniform Residential Appraisal Report (URAR).

Additional Comments Related To Scope Of Work, Assumptions and Limiting Conditions

Page 3 of 4

(gPAR™) General Purpose Appraisal Report 05/2010

GPAR1004_10 05262010

Produced using ACI software, 800.234.8727 www.aciweb.com

24231

Summary

The comparable property photographs included in this report were obtained from the local Multiple Listing Service (MLS). These

images are not original photographs taken by the appraiser. The use of MLS photographs is in accordance with MLS usage

guidelines and is for the sole purpose of supporting the analyses, opinions, and conclusions expressed in this appraisal. The

appraiser has made a diligent effort to ensure the accuracy and relevance of the images; however, the condition of the properties as

shown in the photos may not reflect their current physical condition at the effective date of this appraisal.

Page 17

Residential Appraisal Report

File No.

Appraiser's Certification

The appraiser(s) certifies that, to the best of the appraiser's knowledge and belief:

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

2. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are the appraiser's personal, impartial, and unbiased

professional analyses, opinions, and conclusions.

3. Unless otherwise stated, the appraiser has no present or prospective interest in the property that is the subject of this report and has no personal interest with respect to the parties

involved.

4. The appraiser has no bias with respect to the property that is the subject of this report or to the parties involved with this assignment.

5. The appraiser's engagement in this assignment was not contingent upon developing or reporting predetermined results.

6. The appraiser's 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.

7. The appraiser's analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice.

8. Unless otherwise noted, the appraiser has made a personal inspection of the property that is the subject of this report.

9. Unless noted below, no one provided significant real property appraisal assistance to the appraiser signing this certification. Significant real property appraisal assistance provided by:

Additional Certifications:

Definition of Value:

Market Value

Other Value:

Source of Definition:

ADDRESS OF THE PROPERTY APPRAISED:

EFFECTIVE DATE OF THE APPRAISAL:

APPRAISED VALUE OF THE SUBJECT PROPERTY $

APPRAISER

Signature:

Name:

State Certification #

or License #

or Other (describe):

State #:

State:

Expiration Date of Certification or License:

Date of Signature and Report:

Date of Property Viewing:

Degree of property viewing:

Interior and Exterior

Exterior Only

Did not personally view

SUPERVISORY APPRAISER

Signature:

Name:

State Certification #

or License #

State:

Expiration Date of Certification or License:

Date of Signature:

Date of Property Viewing:

Degree of property viewing:

Interior and Exterior

Exterior Only

Did not personally view

Page 4 of 4

(gPAR™) General Purpose Appraisal Report 05/2010

GPAR1004_10 05262010

Produced using ACI software, 800.234.8727 www.aciweb.com

24231

Summary

07/18/2026

07/24/2026

07/31/2027

1205078285

Jamey Stamper

92,000

December 31, 2025

Warren, MI 48089

24231 Stewart Avenue

Market Value as defined in FIRREA is as follows:

"Market value means 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 and knowledgeably, and assuming the price is not affected by

undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to

buyer under conditions whereby:

(1) Buyer and seller are typically motivated;

(2) Both parties are well informed or well advised, and acting in what they consider their own best interests;

(3) A reasonable time is allowed for exposure in the open market;

(4) Payment is made in terms of cash in U.S. dollars or in terms of financial 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."

FIRREA

See Attached Addendum

Jamey Stamper

Page 18

ADDENDUM

Client: Scott Majewski and/or any assigns

File No.: 24231

Property Address: 24231 Stewart Avenue

Case No.:

City: Warren

State: MI

Zip: 48089

Addendum Page 1 of 6

Neighborhood Description

The subject is located in the City of Warren, Macomb County. Warren is approximately 34 square miles with a

population of 136,404 as of July 2025 estimates via SEMCOG (Southeast Michigan Council of Governments).

The subject is located in the southeast quadrant of the city. The neighborhood includes a variety of dwelling styles built

predominantly in the mid-1900's. The bulk of housing stock includes maintained improvements and manicured green

spaces. The land use in the immediate area is primarily single-family residential with commercial, industrial, multi-family, and

2-4 unit uses being noted as well. Supporting communal services are located primarily on the major thoroughfares. This

includes religious establishments, public facilities, convenience services, and employment opportunities. The subject

includes Eastpointe Community Public Schools.

Neighborhood Market Conditions

U.S. median values experienced a sharp increase in 2020 and 2021, reaching record highs in the summer of 2022. While

growth has slowed, the overall trajectory remains upward with the market continuing to set new record levels. As of

December 2025, the U.S. National Home Price Index was approximately 1.1% higher than December of 2024, as illustrated

in the chart below:

This upward trend in the median value has been accompanied by increased interest rates:

The chart illustrates the sharp increase in 30-year fixed mortgage rates following the pandemic-era lows, rising from below

3% in 2021 to a peak approaching 8% in late 2023. Although rates have recently declined, they remain significantly elevated

relative to the prior cycle. This shift has created a pronounced “rate lock-in” effect, as many homeowners who secured

historically low financing are reluctant to move and assume substantially higher borrowing costs. As a result, resale activity

has been constrained, contributing to reduced transaction volume in the current housing market.

The broader interest rate and pricing trends discussed above are generally consistent with conditions observed in the

subject’s market area. As detailed in the attached market analysis, median sale prices within the neighborhood continue to

show upward movement. Despite elevated borrowing costs and property values relative to prior years, inventory levels

remain limited and marketing times are comparatively short, indicating continued demand. While broader economic

uncertainty and inflationary pressures present potential headwinds, current local market indicators reflect stability at this

time. Supporting data and charts are included in the market analysis section of this report.

*It must be noted that there is typically a lag in real estate related activities in Southeast Michigan during months of inclement weather, which may skew data for those

months

Highest and Best Use

The current use of the subject as improved results in the highest value for what is legally permissible, physically possible,

financially feasible, and maximally productive.

Quality and Condition of Property

(C3-C4 condition rating) (Q4 quality rating) - The subject is a bungalow style dwelling with an unfinished michigan-style

basement (exterior access only) and a detached two-car garage. The garage includes a semi-finished loft space (no

heating/cooling) used for storage. The appraiser measured the exterior of the dwelling at the time of inspection. The

appraiser's measurements are basically in line with assessor records. The crux of the problem to be solved in estimating the

gross living area for the subject lies in the second floor area. While the assessor includes this area as gross living space, the

clearance for the second floor is below what is required for both state code, as well as ANSI standards. ANSI is a

requirement of Fannie Mae/Freddie Mac. The appraiser measured the ceiling height at six feet. Seven feet is the required

clearance for habitable spaces. With that said however, the upper level contains finished living space with a bathroom that

most certainly contribute to the property's utility and market appeal. Market participants would likely recognize contributory

value for this finished area. As such, for the sake of this analysis, the appraiser will include the second floor area as

additional "bonus" space.

According to public record the dwelling was built in 1940. The first floor includes one bedroom and one bathroom. The

second floor includes one bedroom and a bathroom with stand-up shower. In terms of condition, while the subject has had

some updates and maintenance overtime, it also includes several deferred maintenance/repair items as well. Updates

Page 19

ADDENDUM

Client: Scott Majewski and/or any assigns

File No.: 24231

Property Address: 24231 Stewart Avenue

Case No.:

City: Warren

State: MI

Zip: 48089

Addendum Page 2 of 6

according to owner and broker records include but aren't limited to the following items: hot water tank +/- 2025, furnace +/-

2025, central air +/- 2022, roofing +/- 2021. Additionally, the kitchen and bathrooms appear to have been updated at some

point in time. Items of deferred maintenance requiring repair and/or replacement include the following: exterior items -

concrete, siding, rear balcony, wooden trim, and both lean to's. Interior items - drywall, flooring, plumbing, and foundation.

For the foundation, there were several areas in the home showing signs of structural stress in the form of cracks along walls

by doorways and windows on the upper floors of the home, as well as possible seepage and cracks at the foundation in the

basement of the home. The kitchen floor also includes a noticeable slope. The foundation below this area revealed a floor

joist that has been cut in half in order to accommodate for plumbing. Pictures of these items have been attached to this

report. Additionally, the second floor shower leaks and while the central air unit is operational, it requires repair to be fully

functional. Overall, the effective age is estimated at 15-20 years. In terms of the condition rating, the subject includes a scale

of C3 to C4 given that some building components have been well maintained and updated overtime, while others are in

various states of disrepair and in need of repair and/or replacement.

Comments on Sales Comparison

The sales comparison approach is applied, as the principle of substitution is a primary consideration for investors in this

market. This analysis incorporates sales of comparable properties within the subject’s neighborhood as well as in competing

areas.

The subject is a bungalow style dwelling with an unfinished michigan-style basement (exterior access only) and a detached

two-car garage. As noted in the description of improvements, the crux of the problem to be solved in estimating the gross

living area for the subject lies in the second floor area. While the assessor includes this area as gross living space, the

clearance for the second floor is below what is required for both state code, as well as ANSI standards. ANSI is a

requirement of Fannie Mae/Freddie Mac. The appraiser measured the ceiling height at six feet. Seven feet is the required

clearance for habitable spaces. With that said however, the upper level contains finished living space with a bathroom that

most certainly contribute to the property's utility and market appeal. Market participants would likely recognize contributory

value for this finished area. As such, for the sake of this analysis, the appraiser will include the second floor area as "bonus"

space. Comparables will include similar properties in the market area.

In terms of comparable sales, the appraiser focused the search on the following criteria:

Sales of properties located in a 1 mile radius, in the same or competing neighborhoods of Warren

Sales within 365 days of the date of valuation

Dwellings ranging in size from 908-1,228sf (+/- 15% of the subject's gross living area)

Dwellings with low clearance and/or smaller than typical second floor areas (in terms of height or width)

Dwellings with a michigan basement

Dwellings with a garage

Dwellings of similar age and in similar condition (C3-C5)

The comparable grid includes the closest, most recent sales that allowed for effective bracketing of the major elements

contributing to value; i.e. age, condition, site size, below grade area, bedroom/bathroom count, garage size, and gross living

area. All of the comparables include second floor areas that, according to mls photos, appear to suffer from a similar

functional obsolescence as the subject. That is to say that they include second floor areas with lower than typical ceilings

and/or narrower than typical room widths.

More specifically, comp 1 is located in a competing neighborhood of Warren and was used given it includes a michigan

basement. It is slightly smaller than the subject but has comparable functional utility. It does however lack an extra

bathroom, garage, and central air. It's condition appears to be superior to the subject overall.

Comp 2 was used given it is a recent comparable sale in the subjects general area. While it is devoid a basement and

garage, it includes similar functional utility and a comparable condition, overall. This comparable sets the low end of the

adjusted range.

Comp 3 was used given it is a recent sale in the subjects immediate area. It is of similar size and functional utility, but is

devoid a basement and additional bathroom. Its condition is superior to that of the subject.

Comp 4 includes a recent sale in a nearby competing neighborhood. It is of similar size and functional utility as the subject,

but is devoid a basement, garage, and additional bath. Its condition is superior to the subject.

Comp 5 is a sale in a nearby competing neighborhood to the subject. It is of similar size and functional utility. It includes a

full basement with interior access and a garage. It is however devoid the additional bathroom. It includes less updates than

the subject, but doesn't appear to include any significant deferred maintenance.

Comp 6 is a sale in a competing neighborhood. It was used in order to bracket the additional bathroom feature of the

subject. It is of similar size and functional utility. It includes a garage and a full basement with interior access. It is in superior

condition to the subject. It sets the high end of the adjusted range.

Comp 7 is a sale in a competing neighborhood of Warren. It is similar in size, condition, and functional utility. It is however

devoid a garage and additional bathroom.

Comp 8 is a sale in the immediate area of the subject that was utilized to bracket the land size of the subject. It is similar in

size and functional utility. It is however devoid a basement and additional bathroom. Its condition is superior to the subject.

Factors differing from the subject were adjusted for. Some subject elements, as well as some comparable elements, may

have been left unadjusted for if their overall effect was non-existent or minimal. This can be due to the law of diminishing

returns or market tastes as it relates to said factors contributory value. The adjustments were extracted from a regression

analysis which utilized MLS sales data from the subjects sub-market and competing markets. Given the stated parameters

required exceeding to formulate a comparable grid, the adjustments required tempering in order to maintain balance to the

grid. No adjustments were applied for condition rating. This factor was used as a bracketing tool. The adjustments utilized

are as follows:

Page 20

ADDENDUM

Client: Scott Majewski and/or any assigns

File No.: 24231

Property Address: 24231 Stewart Avenue

Case No.:

City: Warren

State: MI

Zip: 48089

Addendum Page 3 of 6

*rounded to the nearest hundred

The adjusted closed sales range is as follows:

Reconciliation: The adjusted range is $86-144k (rounded). The median is at 104k (rounded) and mean at 107k (rounded).

When considering the subjects condition rating in relationship to the comparable data range in terms of deferred

maintenance, the appraiser would anticipate the subject value to be somewhere in the lower bound of the adjusted range.

The lower bound is as follows:

When analyzing the lower bound, given the subject does include updating and maintenance overtime, the low end of that

bound wouldn't be warranted. The appraiser would put more weight near the median of this bound, which is at $95k

(rounded). This weight is due to comp 1, which is included in this lower bound. Comp 1 is the only comparable with a

michigan basement. It includes similar second floor utility and is similar in size to the subject. While it is devoid a garage and

doesn't include the second bathroom, those items have been adjusted for and are further tempered by the fact that this

comparable does appear to be in better condition than the subject. Comp 1 adjusted to $92k (rounded). Additional support

for this value point comes from the previous sale of the subject, which took place approximately six months prior to the date

of valuation for this report. Originally listed for $90k, that previous sale appears to be arm's length in nature and included a

sale price of $87k. When considering these factors as a whole, the appraiser believes a value at comp 1 is reasonably

supported. Therefore, the Sales Comparison Approach is reconciled to $92,000.

Income Approach Comments

While the subject neighborhood is primarily owner occupied, there is a secondary market for tenant occupancy. Although

limited, the data needed to support this approach was sufficient. Therefore, this approach will be developed. Rental rates for

the immediate area and competing areas were utilized to estimate monthly market rent. Please see grid below:

Given the extent of deferred maintenance items, coupled with the limited utility of the second floor and michigan basement

due to clearance, the appraiser utilized the median of the lower bound of the comparable rental range per sf. Therefore,

$1.18 per sf x 993 sf = $1,170 (rounded) monthly market rent.

For the gross rent multiplier, sales and rentals in the market area were analyzed. The GRM divides the price a property sold

at by the price at which that same property rents. The following grid of sales/rentals was established:

Page 21

ADDENDUM

Client: Scott Majewski and/or any assigns

File No.: 24231

Property Address: 24231 Stewart Avenue

Case No.:

City: Warren

State: MI

Zip: 48089

Addendum Page 4 of 6

The median of the grid was used to estimate the gross rent multiplier.

Conditions of Appraisal

This is a retrospective appraisal for tax appeal proceedings. The appraiser inspected the subject property on a date

subsequent to the effective date of this appraisal. This appraisal is developed under the extraordinary assumption that the

property's physical condition, quality, and characteristics as of the effective date were substantially the same as observed at

the time of inspection, except as otherwise noted in this report. If this assumption is found to be false, the appraisal's

opinions and conclusions could be affected.

Additional Certifications

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

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

- 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.

- I have no (or the specified) present or prospective interest in the property that is the subject of this report and no (or the

specified) personal interest with respect to the parties involved.

- My analyses, opinions and conclusions were developed, and this report has been prepared, conformity with the Uniform

Standards of Professional Appraisal Practice.

- I have made a personal inspection of the property that is the subject of this report. No one provided significant real property

appraisal assistance to the person signing this certification. (If there are exceptions, the name of each individual providing

significant real property appraisal assistance must be stated.)

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

30018, Lansing, MI 48909.

- This appraisal assignment was not based on a requested minimum valuation, a specific valuation or the approval of a loan.

- The appraiser's state license has not been revoked, suspended, cancelled or restricted.

- This appraiser has not provided any valuation or consulting service on the subject property within the previous three years.

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

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

compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value

that favors the cause of the client, the amount of the value opinion, or the attainment of a stipulated result.

UAD Definitions

Condition Ratings and Definitions

C1 The improvements have been very recently constructed and have not previously been occupied. The entire structure and

all components are new and the dwelling features no physical depreciation.*

*Note: Newly constructed improvements that feature recycled materials and/or components can be considered new

dwellings provided that the dwelling is placed on a 100% new foundation and the recycled materials and the recycled

components have been rehabilitated/re-manufactured into like-new condition. Recently constructed improvements that have

not been previously occupied are not considered "new" if they have any significant physical depreciation (i.e., newly

constructed dwellings that have been vacant for an extended period of time without adequate maintenance or upkeep).

C2 The improvements feature no deferred maintenance, little or no physical depreciation, and require no repairs. Virtually all

Page 22

ADDENDUM

Client: Scott Majewski and/or any assigns

File No.: 24231

Property Address: 24231 Stewart Avenue

Case No.:

City: Warren

State: MI

Zip: 48089

Addendum Page 5 of 6

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.

C3 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.

C4 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.

C5 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.

C6 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

Q1 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.

Q2 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 residences 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.

Q3 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.

Q4 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.

Q5 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.

Q6 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

Page 23

ADDENDUM

Client: Scott Majewski and/or any assigns

File No.: 24231

Property Address: 24231 Stewart Avenue

Case No.:

City: Warren

State: MI

Zip: 48089

Addendum Page 6 of 6

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

fifteen years of age or less often reflect an original condition with no updating, if no 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.

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

The number of full and half baths is reported by separating the two values by a period. The full bath is represented to the left

of the period. The half bath count is represented to the right of the period. Three-quarter baths are to be counted as a full

bath in all cases. Quarter baths (baths that feature only toilet) are not to be included in the bathroom count.

Extra Comments

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

of this appraisal for tax appeal proceedings, subject to the stated scope of work, purpose of the appraisal, reporting

requirements of this appraisal report form, and definition of market value. No additional intended users are identified by the

appraiser.

I will not be required to give testimony or appear in court because of having made an appraisal of the property in question,

unless specific arrangements to do so have been made in advance, or as otherwise required by law.

The appraiser is competent in the subject's market area with extensive experience appraising real estate in Southeast

Michigan.

Page 24

Client:

File No.:

Property Address:

Case No.:

City:

State:

Zip:

Produced using ACI software, 800.234.8727 www.aciweb.com

PHT6

48089

MI

Warren

24231 Stewart Avenue

24231

Scott Majewski and/or any assigns

Market Analysis

Listings volume

Sales volume

Days on market

Median value trend

Sales/List Ratio

Inventory

Page 25

SUBJECT PROPERTY PHOTO ADDENDUM

Client:

File No.:

Property Address:

Case No.:

City:

State:

Zip:

FRONT VIEW OF

SUBJECT PROPERTY

Date:

Appraised Value: $

REAR VIEW OF

SUBJECT PROPERTY

STREET SCENE

48089

MI

Warren

24231 Stewart Avenue

24231

Scott Majewski and/or any assigns

92,000

December 31, 2025

Page 26

Client:

File No.:

Property Address:

Case No.:

City:

State:

Zip:

Produced using ACI software, 800.234.8727 www.aciweb.com

PHT6

48089

MI

Warren

24231 Stewart Avenue

24231

Scott Majewski and/or any assigns

Subject Photos

Additional front view

Additional rear view

Garage

Garage interior

Loft over garage

Patio next to garage

Page 27

Client:

File No.:

Property Address:

Case No.:

City:

State:

Zip:

Produced using ACI software, 800.234.8727 www.aciweb.com

PHT6

48089

MI

Warren

24231 Stewart Avenue

24231

Scott Majewski and/or any assigns

Subject Photos

Lean to's behind garage

Living room

Kitchen

Bathroom

Bedroom

Second floor bedroom

Page 28

Client:

File No.:

Property Address:

Case No.:

City:

State:

Zip:

Produced using ACI software, 800.234.8727 www.aciweb.com

PHT6

48089

MI

Warren

24231 Stewart Avenue

24231

Scott Majewski and/or any assigns

Subject Photos

Second floor bathroom

Second floor balcony

Laundry in basement

Mechanicals in basement

Basement

Example of deferred maintenance item

Page 29

Client:

File No.:

Property Address:

Case No.:

City:

State:

Zip:

Produced using ACI software, 800.234.8727 www.aciweb.com

PHT6

48089

MI

Warren

24231 Stewart Avenue

24231

Scott Majewski and/or any assigns

Subject Photos

Example of deferred maintenance item

Example of deferred maintenance item

Example of deferred maintenance item

Example of deferred maintenance item

Example of deferred maintenance item

Example of deferred maintenance item

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Client:

File No.:

Property Address:

Case No.:

City:

State:

Zip:

Produced using ACI software, 800.234.8727 www.aciweb.com

PHT6

48089

MI

Warren

24231 Stewart Avenue

24231

Scott Majewski and/or any assigns

Subject Photos

Example of deferred maintenance item

Example of deferred maintenance item

Example of deferred maintenance item

Example of deferred maintenance item

Example of deferred maintenance item

Example of deferred maintenance item

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Client:

File No.:

Property Address:

Case No.:

City:

State:

Zip:

Produced using ACI software, 800.234.8727 www.aciweb.com

PHT6

48089

MI

Warren

24231 Stewart Avenue

24231

Scott Majewski and/or any assigns

Subject Photos

Example of deferred maintenance item

Example of deferred maintenance item

Example of deferred maintenance item

Example of deferred maintenance item

Example of deferred maintenance item

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Client:

File No.:

Property Address:

Case No.:

City:

State:

Zip:

Produced using ACI software, 800.234.8727 www.aciweb.com

PHT6

48089

MI

Warren

24231 Stewart Avenue

24231

Scott Majewski and/or any assigns

Subject Photos

Example of deferred maintenance item

Example of deferred maintenance item

Example of deferred maintenance item

Example of deferred maintenance item

Example of deferred maintenance item

Example of deferred maintenance item

Page 33

FLOORPLAN SKETCH

Client:

File No.:

Property Address:

Case No.:

City:

State:

Zip: 48089

MI

Warren

24231 Stewart Avenue

24231

Scott Majewski and/or any assigns

Page 34

PLAT MAP

Client:

File No.:

Property Address:

Case No.:

City:

State:

Zip: 48089

MI

Warren

24231 Stewart Avenue

24231

Scott Majewski and/or any assigns

Page 35

AERIAL MAP

Client:

File No.:

Property Address:

Case No.:

City:

State:

Zip: 48089

MI

Warren

24231 Stewart Avenue

24231

Scott Majewski and/or any assigns

Page 36

FLOOD MAP

Client:

File No.:

Property Address:

Case No.:

City:

State:

Zip: 48089

MI

Warren

24231 Stewart Avenue

24231

Scott Majewski and/or any assigns

Page 37

COMPARABLE PROPERTY PHOTO ADDENDUM

Client:

File No.:

Property Address:

Case No.:

City:

State:

Zip:

COMPARABLE SALE #1

Sale Date:

Sale Price: $

COMPARABLE SALE #2

Sale Date:

Sale Price: $

COMPARABLE SALE #3

Sale Date:

Sale Price: $

48089

MI

Warren

24231 Stewart Avenue

24231

Scott Majewski and/or any assigns

82,500

s06/25;c05/25

Warren, MI 48091

7259 Republic Avenue

80,000

s12/25;c11/25

Warren, MI 48089

13696 Knox Avenue

130,000

s11/25;c11/25

Warren, MI 48089

24650 Stewart Avenue

Page 38

COMPARABLE PROPERTY PHOTO ADDENDUM

Client:

File No.:

Property Address:

Case No.:

City:

State:

Zip:

COMPARABLE SALE #4

Sale Date:

Sale Price: $

COMPARABLE SALE #5

Sale Date:

Sale Price: $

COMPARABLE SALE #6

Sale Date:

Sale Price: $

48089

MI

Warren

24231 Stewart Avenue

24231

Scott Majewski and/or any assigns

95,000

s10/25;c10/25

Eastpointe, MI 48021

24591 Valley Avenue

100,000

s07/25;c06/25

Eastpointe, MI 48021

22079 Oakwood Avenue

145,000

s02/25;c02/25

Eastpointe, MI 48021

22801 Lambrecht Avenue

Page 39

COMPARABLE PROPERTY PHOTO ADDENDUM

Client:

File No.:

Property Address:

Case No.:

City:

State:

Zip:

COMPARABLE SALE #7

Sale Date:

Sale Price: $

COMPARABLE SALE #8

Sale Date:

Sale Price: $

COMPARABLE SALE #9

Sale Date:

Sale Price: $

48089

MI

Warren

24231 Stewart Avenue

24231

Scott Majewski and/or any assigns

105,000

s01/25;c01/25

Warren, MI 48089

13750 Marshall Avenue

79,900

s01/25;c12/24

Warren, MI 48089

23659 Bolam Avenue

Page 40

LOCATION MAP

Client:

File No.:

Property Address:

Case No.:

City:

State:

Zip: 48089

MI

Warren

24231 Stewart Avenue

24231

Scott Majewski and/or any assigns

Page 41

Client:

File No.:

Property Address:

Case No.:

City:

State:

Zip: 48089

MI

Warren

24231 Stewart Avenue

24231

Scott Majewski and/or any assigns

Appraiser License

Page 42

Client:

File No.:

Property Address:

Case No.:

City:

State:

Zip: 48089

MI

Warren

24231 Stewart Avenue

24231

Scott Majewski and/or any assigns

Appraiser Insurance

Page 43

FHA/VA Case No. 

RSDS Valuations LLC

24231 stewart

24231 Stewart Ave

Warren

MI

48089

Scott Majewski

Ali Al-Shati

Macomb

Nicolai Estate Subdivision Lot 73

12-13-25-259-013

2024

2,597

Nicolai Estate Sub

47664

2629.00

0

0

CMG Financial

Corporate 3160 Crow Canyon Road, Suite 400, San Ramon, CA, 94583

DOM 14;Subject was listed on;Original Date 05/02/2025;Original Price $90,000. It entered 

contract status on 05/16/2025;REALCOMP#20250031292;

Arms length sale;Standard contract dated 05/10/2025

91,000

05/10/2025

RCOL

$0;;

50

110

80

20

120

65

90

5

3

2

0

North of 9 Mile Road, South of 10 Mile Road, East of Schoenherr Road and 

West of Hayes Road..

The subject property is located in a single family neighborhood made up of primarily ranch, bungalow and colonial style 

homes. Warren Fire protection and schools are within reasonable distance. Freeways are within reasonable distance for access to areas of 

employment and shopping.

The general market conditions in the area appear to be Increasing. Seller concessions are 

individual buyers and sellers responsibility. Supply and demand are in balance. Generally, the market ad hears to conventional financing, 

however some cash sales were noted.

66 x 140

9240 sf

Rectangular

N;Res;

R -1-C

Single Family Residential

Concrete

None

X

26099C0401G

09/29/2006

1.5

Bungalow

1940

40

576

0

Concrete/Avg

Aluminum/Avg

Asphalt/Avg

Aluminum/Avg

Casement/Avg

Yes/Avg

Yes/Avg

HdWd/Carpet/Tile/Gd

Drywall/Good

Wood/Good

Ceramic Tile/Good

Ceramic Tile/Good

Gas

None

0

COn

None

0

Chain

Open

None

1

Concrete

2

0

4

1

1.0

691

None

C4;Kitchen-updated-one to five years 

ago;Bathrooms-updated-one to five years ago;The subject property is in "C4" condition .

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

Uniform Residential Appraisal Report

File #

SUBJECT

CONTRACT

NEIGHBORHOOD

SITE

IMPROVEMENTS

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

Property Address

City

State

Zip Code

Borrower

Owner of Public Record

County

Legal Description

Assessor's Parcel #

Tax Year

R.E. Taxes $

Neighborhood Name

Map Reference

Census Tract

Occupant

Owner

Tenant

Vacant

Special Assessments $

PUD

HOA $

per year

per month

Property Rights Appraised

Fee Simple

Leasehold

Other (describe)

Assignment Type

Purchase Transaction

Refinance Transaction

Other (describe)

Lender/Client

Address

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?

Yes

No

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

I

did

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

performed.

Contract Price $

Date of Contract

Is the property seller the owner of public record?

Yes

No Data Source(s)

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

Yes

No

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

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

Neighborhood Characteristics

Location

Urban

Suburban

Rural

Built-Up

Over 75%

25-75%

Under 25%

Growth

Rapid

Stable

Slow

One-Unit Housing Trends

Property Values

Increasing

Stable

Declining

Demand/Supply

Shortage

In Balance

Over Supply

Marketing Time

Under 3 mths

3-6 mths

Over 6 mths

One-Unit Housing

PRICE

$ (000)

AGE

(yrs)

Low

High

Pred.

Present Land Use %

One-Unit

%

2-4 Unit

%

Multi-Family

%

Commercial

%

Other

%

Neighborhood Boundaries

Neighborhood Description

Market Conditions (including support for the above conclusions)

Dimensions

Area

Shape

View

Specific Zoning Classification

Zoning Description

Zoning Compliance

Legal

Legal Nonconforming (Grandfathered Use)

No Zoning

Illegal (describe)

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

Yes

No

If No, describe

Utilities

Public

Other (describe)

Public

Other (describe)

Electricity

Gas

Water

Sanitary Sewer

Off-site Improvements - Type

Public

Private

Street

Alley

FEMA Special Flood Hazard Area

Yes

No

FEMA Flood Zone

FEMA Map #

FEMA Map Date

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

Yes

No

If No, describe

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

Yes

No

If Yes, describe

General Description

Units

One

One with Accessory Unit

# of Stories

Type

Det.

Att.

S-Det./End Unit

Existing

Proposed

Under Const.

Design (Style)

Year Built

Effective Age (Yrs)

Foundation

Concrete Slab

Crawl Space

Full Basement

Partial Basement

Basement Area

sq.ft.

Basement Finish

%

Outside Entry/Exit

Sump Pump

Evidence of

Infestation

Dampness

Settlement

Exterior Description

materials/condition

Foundation Walls

Exterior Walls

Roof Surface

Gutters & Downspouts

Window Type

Storm Sash/Insulated

Screens

Interior

materials/condition

Floors

Walls

Trim/Finish

Bath Floor

Bath Wainscot

Attic

None

Drop Stair

Stairs

Floor

Scuttle

Finished

Heated

Heating

FWA

HWBB

Radiant

Other

Fuel

Cooling

Central Air Conditioning

Individual

Other

Amenities

Fireplace(s) #

Patio/Deck

Pool

Woodstove(s) #

Fence

Porch

Other

Car Storage

None

Driveway

# of Cars

Driveway Surface

Garage

# of Cars

Carport

# of Cars

Att.

Det.

Built-in

Appliances

Refrigerator

Range/Oven

Dishwasher

Disposal

Microwave

Washer/Dryer

Other (describe)

Finished area above grade contains:

Rooms

Bedrooms

Bath(s)

Square Feet of Gross Living Area Above Grade

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?

Yes

No

If Yes, describe

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

Yes

No

If No, describe

Freddie Mac Form 70 March 2005

UAD Version 9/2011

Page 1 of 6

Fannie Mae Form 1004 March 2005

Page 44

FHA/VA Case No.

24231 stewart

125,000

130,000

50,000

110,000

24231 Stewart Ave

Warren, MI 48089

91,000

131.69

N;Res;

Fee Simple

9240 sf

N;Res;

DT1.5;Bungalow

1.0

691

576sf0sfin

1 Bedroom

GFA/CA

None

2gd1dw

Porch/Patio/Bal

Fireplaces

None

Finished Non Livable Area

Bedroom/Bath/253 sq

Deferred Maintenance

Paint/Drywall

08/16/2022

$70,000

MLS/PRD

05/23/2025

25247 Lehner St

Roseville, MI 48066

0.82 miles NE

70,400

102.03

RCOLMLS#58050145945;DOM 6

Assessor/PRD

ArmLth

Cash;0

s08/24;c06/24

N;Res;

Fee Simple

4791 sf

N;Res;

DT1.0;Ranch

1.0

690

690sf0sfin

2 Bedroom

-3,000

GFA/CA

None

1gd1dw

+2,000

Porch/Patio

None

+4,000

Paint/Drywall

3,000

4.3

12.8

73,400

MLS/PRD

05/23/2025

23094 Columbus Ave

Warren, MI 48089

0.50 miles S

92,000

128.85

RCOLMLS#58050152880;DOM 43

Assessor/PRD

ArmLth

Conv;2000

-2,000

s10/24;c10/24

N;Res;

Fee Simple

4356 sf

N;Res;

DT1.0;Ranch

-8,000

1.0

714

0sf

+5,000

2 Bedroom

-3,000

GFA/CA

None

2gd2dw

Porch/Patio

None

+4,000

None

-6,000

-10,000

10.9

30.4

82,000

05/16/2024

MLS/PRD

05/23/2025

14566 Stephens Rd

Warren, MI 48089

0.10 miles SW

95,000

142.86

RCOLMLS#20240091303;DOM 130

Assessor/PRD

ArmLth

Conv;1261

-1,261

s05/25;c04/25

A;BsyRd;

+2,000

Fee Simple

8712 sf

N;Res;

DT1.0;Ranch

-8,000

1.0

665

0sf

+5,000

2 Bedroom

-3,000

GFA/None

+2,000

None

1gd1dw

+2,000

Porch/Patio

None

+4,000

None

-6,000

-3,261

3.4

35.0

91,739

MLS/PRD

05/23/2025

RCOL

Subject

A PROPERTY MANAGEMENT LLC AL-SHATI ALI 09/15/2022 08/16/2022 $70,000 WAR/DEED 28812/0957

BOETTCHER ERIC W A PROPERTY MANAGEMENT LLC 06/07/2022 05/20/2022 $36,000 WAR/DEED 28645/0208

Comp 2

BACHORSKI WILLIAM BACHORSKI WILLIAM 05/16/2024 05/16/2024 QCD 29592/0767

WALDORPH KENNETH BACHORSKI WILLIAM 04/25/2024 04/24/2024 $51,000 WAR/DEED 29563/0927 EQUITY PROS LLC GROWTH PROP

See Attached

82,000

18,942

Most weight was given to the Market Data Approach, supported by the Cost Approach. The Income Approach is not applicable to this report.

Insufficient data was available to support its effective use.

All sales are confirmed closed. All

data is verified with the MLS/Public Records.

82,000

05/21/2025

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

Uniform Residential Appraisal Report

File #

SALES COMPARISON APPROACH

RECONCILIATION

There are

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

to $

There are

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

to $

FEATURE

SUBJECT

COMPARABLE SALE # 1

COMPARABLE SALE # 2

COMPARABLE SALE # 3

Address

Proximity to Subject

Sale Price

Sale Price/Gross Liv. Area

sq.ft. $

sq.ft.

Data Source(s)

Verification Source(s)

VALUE ADJUSTMENTS

DESCRIPTION

+(-) $ Adjustment

DESCRIPTION

+(-) $ Adjustment

DESCRIPTION

+(-) $ Adjustment

Sales or Financing

Concessions

Date of Sale/Time

Location

Leasehold/Fee Simple

Site

View

Design (Style)

Quality of Construction

Actual Age

Condition

Above Grade

Total

Bdrms.

Baths

Total

Bdrms. Baths

Total

Bdrms.

Baths

Total

Bdrms. Baths

Room Count

Gross Living Area

sq.ft.

Basement & Finished

Rooms Below Grade

Functional Utility

Heating/Cooling

Energy Efficient Items

Garage/Carport

Porch/Patio/Deck

Net Adjustment (Total)

Adjusted Sale Price

of Comparables

Net Adj.

Gross Adj.

Net Adj.

Gross Adj.

Net Adj.

Gross Adj.

did

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

My research

did

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

Data Source(s)

My research

did

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

Data Source(s)

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

ITEM

SUBJECT

COMPARABLE SALE #1

COMPARABLE SALE #2

COMPARABLE SALE #3

Date of Prior Sale/Transfer

Price of Prior Sale/Transfer

Data Source(s)

Effective Date of Data Source(s)

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

Summary of Sales Comparison Approach

Indicated Value by Sales Comparison Approach $

Indicated Value by: Sales Comparison Approach $

Cost Approach (if developed) $

Income Approach (if developed) $

This appraisal is made

"as is",

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

completed,

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

subject to the

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

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

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

, as of

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

Freddie Mac Form 70 March 2005

UAD Version 9/2011

Page 2 of 6

Fannie Mae Form 1004 March 2005

Page 45

FHA/VA Case No. 

24231 stewart

See Attached

 

The site value was derived utilizing the extraction 

method to value and also through market investigation by the Appraiser. Availability and scarcity are a factor in this community as there are few 

available lots within the limits of Warren

Local Builders

Average

12/24

18,942

691

576

440

18,942

See attached 

65

The Income Approach is not applicable to this report. Insufficient data was 

available to support its effective use also the subject property is not a rental property. 

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

Uniform Residential Appraisal Report

File #

ADDITIONAL COMMENTS

COST APPROACH

INCOME

PUD INFORMATION

COST APPROACH TO VALUE (not required by Fannie Mae)

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

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

ESTIMATED

REPRODUCTION OR

REPLACEMENT COST NEW

Source of cost data

Quality rating from cost service

Effective date of cost data

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

OPINION OF SITE VALUE

=$

DWELLING

Sq.Ft. @ $

=$

Sq.Ft. @ $

=$

=$

Garage/Carport

Sq.Ft. @ $

=$

Total Estimate of Cost-New

=$

Less

Physical

Functional

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

INCOME APPROACH TO VALUE (not required by Fannie Mae)

Estimated Monthly Market Rent $

X Gross Rent Multiplier

= $

Indicated Value by Income Approach

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

No

Unit type(s)

Detached

Attached

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.

Legal Name of Project

Total number of phases

Total number of units

Total number of units sold

Total number of units rented

Total number of units for sale

Data source(s)

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

Yes

No If Yes, date of conversion.

Does the project contain any multi-dwelling units?

Yes

No Data Source

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?

Yes

No If Yes, describe the rental terms and options.

Describe common elements and recreational facilities.

Freddie Mac Form 70 March 2005

UAD Version 9/2011

Page 3 of 6

Fannie Mae Form 1004 March 2005

Page 46

FHA/VA Case No.

24231 stewart

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

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

unit

planned unit

development

(PUD). This

report

form

not

designed

to report

appraisal of

manufactured

home

unit

condominium

cooperative

project.

This

appraisal

report

subject

the

following

scope

work,

intended

use,

intended

user,

definition

market

value,

statement

assumptions

and

limiting

conditions,

and

certifications.

Modifications,

additions,

deletions

the

intended

use,

intended

user,

definition

market

value,

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

this appraisal

assignment.

Modifications

deletions

the

certifications

are

also

not

permitted.

However,

additional

certifications

that

not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's

continuing

education

membership

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

this

appraisal

report

form,

including

the

following

definition

market

value,

statement

assumptions

and

limiting

conditions,

and

certifications.

The

appraiser

must,

minimum:

(1)

perform

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

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

this

appraisal

for

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

property

should

bring

competitive

and

open

market

under

all

conditions

requisite

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

financial

arrangements

comparable

thereto;

and

(5)

the

price

represents

the

normal

consideration

for

the

property

sold

unaffected

special

creative

financing

sales

concessions*

granted

anyone

associated

with

the

sale.

*Adjustments

the

comparables

must

made

for

special

creative

financing

sales

concessions.

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

virtually

all

sales

transactions.

Special

creative

financing

adjustments

can

made

the

comparable

property

comparisons

financing

terms

offered

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

the

financing

concessions

based

the

appraiser's

judgment.

STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS:

The

appraiser's

certification

this

report

subject

the

following

assumptions

and

limiting

conditions:

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.

The

appraiser

has

provided

sketch

this

appraisal

report

show

the

approximate

dimensions

the

improvements.

The

sketch

included

only

assist

the

reader

visualizing

the

property

and

understanding

the

appraiser's

determination

of its size.

The

appraiser

has

examined

the

available

flood

maps

that

are

provided

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

identified

Special

Flood

Hazard

Area.

Because

the

appraiser

not

surveyor,

she

makes

guarantees,

express

implied,

regarding

this

determination.

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

have

been

made

beforehand,

otherwise

required

law.

The

appraiser

has

noted

this

appraisal

report

any

adverse

conditions

(such

needed

repairs,

deterioration,

the

presence

hazardous

wastes,

toxic

substances,

etc.)

observed

during

the

inspection

the

subject

property

that

she

became

aware

during

the

research

involved

performing

the

appraisal.

Unless

otherwise

stated

this

appraisal

report,

the

appraiser

has

knowledge

any

hidden

unapparent

physical

deficiencies

adverse

conditions

the

property

(such

as,

but

not

limited

to,

needed

repairs,

deterioration,

the

presence

hazardous

wastes,

toxic

substances,

adverse

environmental

conditions,

etc.)

that

would

make

the

property

less

valuable,

and

has

assumed

that

there

are

such

conditions

and

makes

guarantees

warranties,

express

implied.

The

appraiser

will

not

responsible

for

any

such

conditions

that

exist

or for

any

engineering

testing

that

might

required

discover

whether

such

conditions

exist.

Because

the

appraiser

not

expert

the

field

environmental

hazards,

this

appraisal

report

must

not

considered

environmental

assessment

the

property.

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

completion,

repairs,

alterations

the

assumption

that

the

completion,

repairs,

alterations

the

subject

property

will

performed

professional

manner.

Freddie Mac Form 70 March 2005

UAD Version 9/2011

Page 4 of 6

Fannie Mae Form 1004 March 2005

Page 47

FHA/VA Case No.

24231 stewart

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

Uniform Residential Appraisal Report

File #

APPRAISER'S CERTIFICATION:

The Appraiser certifies and agrees that:

I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in

this

appraisal

report.

I performed a

complete

visual inspection

of the interior and exterior

areas of the subject property. I reported the condition

the

improvements

factual,

specific

terms.

identified

and

reported

the

physical

deficiencies

that

could

affect

the

livability,

soundness,

structural

integrity

the

property.

performed

this

appraisal

accordance

with

the

requirements

the

Uniform

Standards

Professional

Appraisal

Practice

that

were

adopted

and

promulgated

the

Appraisal

Standards

Board

The

Appraisal

Foundation

and

that

were

place

the

time

this

appraisal

report

was

prepared.

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

value.

have

adequate

comparable

market

data

develop

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

this

report.

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.

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.

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

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.

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.

have

knowledge

and

experience

appraising

this

type

property

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.

obtained

the

information,

estimates,

and

opinions

furnished

other

parties

and

expressed

this

appraisal

report

from

reliable

sources

that

believe

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

hazardous

wastes,

toxic

substances,

adverse

environmental

conditions,

etc.)

observed

during

the

inspection

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

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

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.

employment

and/or

compensation

for

performing

this

appraisal

any

future

anticipated

appraisals

was

not

conditioned

any

agreement

or understanding,

written

otherwise,

that

would

report

(or

present

analysis

supporting)

predetermined

specific

value,

predetermined

minimum

value,

range

or direction

value,

value

that

favors

the

cause

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

significant

real

property

appraisal

assistance

from

any

individual or individuals

the

performance

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.

Freddie Mac Form 70 March 2005

UAD Version 9/2011

Page 5 of 6

Fannie Mae Form 1004 March 2005

Page 48

FHA/VA Case No. 

24231 stewart

Michael Cascardo

Michael Cascardo

RSDS Valuations LLC

12900 Foster St, Suite 180

Overland Park, KS 66213 

480-885-0630

info@rsdsllc.com

05/23/2025

05/21/2025

1204005555

MI

07/31/2025

24231 Stewart Ave

Warren, MI 48089

82,000

Connect by ValueLink

CMG Financial

Corporate 3160 Crow Canyon Road, Suite 

400, San Ramon, CA, 94583

None

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

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.

APPRAISER

Signature

Name

Company Name

Company Address

Telephone Number

Email Address

Date of Signature and Report

Effective Date of Appraisal

State Certification #

or State License #

or Other (describe)

State #

State

Expiration Date of Certification or License

ADDRESS OF PROPERTY APPRAISED

APPRAISED VALUE OF SUBJECT PROPERTY $

LENDER/CLIENT

Name

Company Name

Company Address

Email Address

SUPERVISORY APPRAISER (ONLY IF REQUIRED)

Signature

Name

Company Name

Company Address

Telephone Number

Email Address

Date of Signature

State Certification #

or State License #

State

Expiration Date of Certification or License

SUBJECT PROPERTY

Did not inspect subject property

Did inspect exterior of subject property from street

Date of Inspection

Did inspect interior and exterior of subject property

Date of Inspection

COMPARABLE SALES

Did not inspect exterior of comparable sales from street

Did inspect exterior of comparable sales from street

Date of Inspection

Freddie Mac Form 70 March 2005

UAD Version 9/2011

Page 6 of 6

Fannie Mae Form 1004 March 2005

Page 49

FHA/VA Case No. 

24231 stewart

24231 Stewart Ave

Warren, MI 48089

91,000

131.69

N;Res;

Fee Simple

9240 sf

N;Res;

DT1.5;Bungalow

Q4

85

C4

4

1

1.0

691

576sf0sfin

1 Bedroom

GFA/CA

None

2gd1dw

Porch/Patio/Bal

Fireplaces

None

Finished Non Livable Area

Bedroom/Bath/253 sq

Deferred Maintenance

Paint/Drywall

08/16/2022

$70,000

MLS/PRD

05/23/2025

23138 Stewart Ave

Warren, MI 48089

0.47 miles S

99,900

118.09

RCOLMLS#20240044230;DOM 84

Assessor/PRD

ArmLth

Conv;0

s10/24;c09/24

N;Res;

Fee Simple

4356 sf

0

N;Res;

DT1.0;Ranch

0

Q4

88

0

C3

-8,000

5

2

1.0

0

846

-1,400

0sf

+5,000

2 Bedroom

-3,000

GFA/None

+2,000

None

1gd1dw

+2,000

Porch/Patio

0

None

None

+4,000

None

-6,000

-5,400

5.4

31.4

94,500

MLS/PRD

05/23/2025

24395 Columbus Ave

Warren, MI 48089

0.14 miles NW

130,000

141.30

RCOLMLS#20250017752;DOM 38

Assessor/PRD

Listing

Conv;0

Active

N;Res;

Fee Simple

9148 sf

0

N;Res;

DT1.5;Bungalow

Q4

81

0

C4

4

2

1.0

0

920

-2,100

736sf0sfin

0

2 Bedroom

-3,000

GFA/None

+2,000

None

2gd2dw

0

Porch/Patio

0

None

None

+4,000

None

-6,000

-5,100

3.9

13.2

124,900

MLS/PRD

05/23/2025

23817 Willard Ave

Warren, MI 48089

0.59 miles W

125,000

149.16

RCOLMLS#20250022453;DOM 51

Assessor/PRD

Listing

None;0

Active

N;Res;

Fee Simple

6970 sf

0

N;Res;

DT1.0;Ranch

0

Q4

79

0

C4

5

2

1.0

0

838

-1,300

0sf

+5,000

2 Bedroom

-3,000

GFA/None

+2,000

None

2ga2dw

0

Porch/Patio

0

None

None

+4,000

None

-6,000

700

0.6

17.0

125,700

MLS/PRD

05/23/2025

4

5

6

4

5

6

See Above

See Attached

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

Uniform Residential Appraisal Report

File #

SALES COMPARISON APPROACH

SALE HISTORY

ANALYSIS / COMMENTS

FEATURE

SUBJECT

COMPARABLE SALE #

COMPARABLE SALE #

COMPARABLE SALE #

Address

Proximity to Subject

Sale Price

$

$

$

$

Sale Price/Gross Liv. Area

$

sq.ft. $

sq.ft.

$

sq.ft.

$

sq.ft.

Data Source(s)

Verification Source(s)

VALUE ADJUSTMENTS

DESCRIPTION

DESCRIPTION

+(-) $ Adjustment

DESCRIPTION

+(-) $ Adjustment

DESCRIPTION

+(-) $ Adjustment

Sales or Financing

Concessions

Date of Sale/Time

Location

Leasehold/Fee Simple

Site

View

Design (Style)

Quality of Construction

Actual Age

Condition

Above Grade

Total

Bdrms.

Baths

Total

Bdrms. Baths

Total

Bdrms.

Baths

Total

Bdrms. Baths

Room Count

Gross Living Area

sq.ft.

sq.ft.

sq.ft.

sq.ft.

Basement & Finished

Rooms Below Grade

Functional Utility

Heating/Cooling

Energy Efficient Items

Garage/Carport

Porch/Patio/Deck

Net Adjustment (Total)

+

-

+

-

+

-

$

$

$

Adjusted Sale Price

of Comparables

$

$

$

Net Adj.

%

Gross Adj.

%

Net Adj.

%

Gross Adj.

%

Net Adj.

%

Gross Adj.

%

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

ITEM

SUBJECT

COMPARABLE SALE #

COMPARABLE SALE #

COMPARABLE SALE #

Date of Prior Sale/Transfer

Price of Prior Sale/Transfer

Data Source(s)

Effective Date of Data Source(s)

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

Analysis/Comments

Freddie Mac Form 70 March 2005

Fannie Mae Form 1004 March 2005

UAD Version 9/2011

Page 50

FHA/VA Case No.

24231 stewart

24231 Stewart Ave

Warren

48089

Scott Majewski

$106,250

24.5

$117,450

100.03

1.33

1.5

$117,000

$107,000

153

96.49

$105,000

130

$127,500

99.96

REALCOMP indicates there were 19 closed sales during the past 12 months and 6 of those sales contained seller

concessions which is 32% of the total transactions in this market area. Prior Months 7-12: 12 Sales; 4 with concessions; 33% of sales for this

period. 4-6: 4 Sales; 1 with concessions; 25% of sales for this period. 0-3: 3 Sales; 1 with concessions; 33% of sales for this period. The

concessions ranged between $1,261 and $9,420. The median concession amount is $4,424.

The data used in the grid above does not indicate there were any REO/Short sales or other distressed properties associated with the reported

transactions. However, this is not a mandatory reporting field for agents and there may be some distressed sales that were not reported. It is

beyond the scope of this assignment to confirm each sale used in the Market Conditions Report.

REALCOMP was the data source used to complete the Market Conditions Addendum. 5/23/2025

The Appraisers inventory analysis, median sale and list price, days on market and other observations in this addendum are biased on The

data sources listed. The local appraisal and real estate communities generally depend on these sources for accurate and qualified market

data. The appraiser cannot verify all of The information in this statistical analysis and cannot guarantee The accuracy of such information or

The conclusions based thereon. While The appraiser can assemble The pertinent market data and extrapolate overall trend direction, The

appraiser cannot guarantee future market conditions affecting The subject. When possible, The appraiser included any pending, expired and

withdrawn listings in order to have a more complete understanding of current and past market conditions. all of these factors combined have

an impact on The opinion of The market trends for this area.

Michael Cascardo

RSDS Valuations LLC

12900 Foster St, Suite 180, Overland Park, KS 6621

1204005555

info@rsdsllc.com

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

File No.

Market Conditions Addendum to the Appraisal Report

MARKET RESEARCH & ANALYSIS

CONDO/CO-OP PROJECTS

APPRAISER

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.

Property Address

City

State

ZIP Code

Borrower

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.

Inventory Analysis

Prior 7–12 Months

Prior 4–6 Months

Current – 3 Months

Overall Trend

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

Prior 7–12 Months

Prior 4–6 Months

Current – 3 Months

Total # of Comparable Sales (Settled)

Absorption Rate (Total Sales/Months)

Total # of Comparable Active Listings

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

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

Increasing

Stable

Declining

Increasing

Stable

Declining

Stable

Increasing

Declining

Stable

Increasing

Overall Trend

Increasing

Stable

Declining

Stable

Increasing

Stable

Declining

Stable

Increasing

Stable

Declining

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

Yes

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.).

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

Yes

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.

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

Project Name:

Subject Project Data

Prior 7–12 Months

Prior 4–6 Months

Current – 3 Months

Overall Trend

Total # of Comparable Sales (Settled)

Absorption Rate (Total Sales/Months)

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

Total # of Active Comparable Listings

Increasing

Stable

Declining

Increasing

Stable

Declining

Stable

Increasing

Declining

Stable

Increasing

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

Yes

If yes, indicate the number of REO listings and explain the trends in listings and sales of

foreclosed properties.

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

Signature

Appraiser Name

Company Name

Company Address

State License/Certification #

State

Email Address

Signature

Supervisory Appraiser Name

Company Name

Company Address

State License/Certification #

State

Email Address

Freddie Mac Form 71 March 2009

Page 1 of 1

Fannie Mae Form 1004MC March 2009

Page 51

URAR: Cost Approach Comments

The cost approach was not developed due to not enough data to calculated depreciation. Due to the age of the

dwelling, the Appraiser has considered the Cost Approach not necessary for credible results.

The site value was derived utilizing the extraction method to value and also through market investigation by the Appraiser.

Availability and scarcity are a factor in this community as there are few available lots within the limits of Warren

Land sales in the defined market area provided two (2) sales within one year of the effective date. These sales were considered

similar to the subject based on proximity, size, amenities, and utilities. The appraiser's analysis indicated a psf at $2.05. Given

the subject's amenities, actual location, and size as well as the data analyzed the subject's site value was calculated, as follows:

$18,942 (9240 sf X $2.05). or $18,942 rounded

The subject property suffers from deferred maintenance in peeling paint and drywall. The appraiser has made an adjustment to

comps numbers 2, 3, 4, 5 and 6 for the lack of deferred maintenance. The ceiling height for the subject property second floor

does not meet ANSI Z765 standards as there is no area that is above 7 feet. The appraiser has counted this non-livable area in

a separate line in the grid and has made minimal adjustments due to ANSI Z765 standards not being able to be confirm

confirmed in the comparable sales.

A thorough search of the MLS was made to locate comparables that would bracket the subject's bedrooms.

however, there were no relevant sales found to accomplish this. Adequate market driven adjustments are made

throughout the adjustment grid to compensate for any differences. None of these features are considered an

over-improvement as there are homes with similarities to that of the subject within the market area, however, none

have been recently marketed.

The appraiser has relied either upon paired sales analysis, market extraction, local builders, realtors,

building cost databases, appraiser contributory databases and local MLS to develop adjustments.

The sales selected for use in this report were considered to be the best available at the time of inspection. Most

weight was given to comp 1 as it is the most similar to the subject property. Due to the condition of the subject

property, the appraiser was unable to locate any more recent comparable sales.

Please note that some comparables may exceed the preferred guidelines of 15% and/or 25% for net and/or gross

percentages respectively . This can be attributed to the complexity of comparable selection and the limited number

of recent, available comparable sales. The subject's floor plan, GLA and lot size in conjunction with age made it

necessary to utilize a variety of homes to "bracket" the market’s reaction for each contributable characteristic.

Please note that the pre-adjusted range of value may exceed the preferred guidelines of 20%. This can be attributed

to the complexity of comparable selection and the limited number of recent, available comparable sales. The

subject's floor plan, GLA and lot size in conjunction with age made it necessary to utilize a variety of homes to

"bracket" the market’s reaction for each contributable characteristic.

Under current market conditions, the reasonable marketing time for the subject property is approximately 0 to 3

months. This is based on the analyses of current market trends.

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

report within the 3 year period preceding acceptance of this assignment. The appraiser's office is 7 miles from the

subject property. Appraisers are required to be licensed and are regulated By the Michigan Department of Licensing

and Regulatory Affairs, PO Box 30018, Lansing, MI 48909.

Measurements for the subject property were obtained with ANSI Z765 standards. 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.

E & O insurance is on file with the lender

The hot water tank is not required to be strapped

Under current market conditions, the reasonable exposure time for the subject property is approximately 0 to 3 months. This is

based on the analyses of current market trends.

CO detectors are not required by law.

Utilities, cabinets, appliances and mechanical systems that contribute to market value were functional and operational at the

time of inspection.

The appraiser’s comparable search parameters began with an MLS search for single family homes sold within the prior three

months, located within ½ mile from the subject property, [within the defined market area reported in the neighborhood section of

this report; built between 1900 to 1990 and containing 500 to 1000 SF of living area.

The Sales Comparison Approach is given primary consideration as it best reflects sales data similar to the subject.

The "sold" comparable adjusted value range developed in this appraisal is $73,400 to $95,900. The middle of the

adjusted value range of the "sold" comparable sales was selected due to the subject's condition and amenities. After

an analysis of the 4 "sold " comparables, 2 listings and their adjustments, this segment of the range is found to be

most indicative of market value.

FHA/VA Case No.

Supplemental Addendum

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

24231 stewart

Scott Majewski

24231 Stewart Ave

Warren

Macomb

48089

CMG Financial

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

File No.

Page 52

The Cost Approach assumes that the potential purchaser will consider building a substitute residence that has the

same utility (replacement costs) as the property being appraised. The value of the site is as vacant at its highest

and best use.

Client and Intended Use of the Appraisal

The client is identified on page one of this form. This appraisal may not be utilized for any other use or distributed in

part or in the whole for any other use by the client or the borrower without the specific written consent of the

appraiser. Neither all nor any part of the contents of this report shall be conveyed to any person or entity, through

advertising, solicitation materials, public relations, news, sales, or other media without the specific written consent

and approval of the appraiser. The identity of the appraiser or firm with which the appraiser is connected, or any

reference to any affiliation with any professional appraisal organization or designation may not be conveyed.

The appraisal report is not a home inspection; the appraiser only performed a visual observation of

accessible areas and that the appraisal cannot be relied upon to disclose any negative conditions and/or defects in

the property.

Appraisers are required to be licensed and are regulated by the State of Michigan, Department of Labor and

Economic Growth, PO Box 30018, Lansing, MI 48909.

Contaminated site data were checked utilizing the Michigan Sites of Environmental Contamination web site for the

Department of Environmental Quality.

Flood plain data were checked utilizing data provided by the Federal Emergency Management Agency, National

Flood Insurance Program.

APPRAISER INDEPENDENCE: No employee, director, officer, or agent of the Seller, or any other third party acting

as joint venture partner, independent contractor, appraisal company, appraisal management company, or partner on

behalf of the Seller has influenced or attempted to influence the development, reporting, result, or review of this

assignment through coercion, extortion, collusion, compensation, instruction, inducement, intimidation, bribery or in

any other manner

Additional Scope of Work:

No personal property is included in this valuation, including the personal property declared in the purchase contract.

No additional Intended Users are identified by the appraiser.

In this report, the subject property is identified by physical address, tax assessor parcel number, and legal

description, where available.

When possible and relevant, interviews and data collection from local agents, the client, the borrower, the owner, and local

governmental authorities are also conducted and utilized. The specific research and data sources used are indicated on the

relevant areas of the attached appraisal form. The appraiser relies on information supplied by parties knowledgeable about the

subject property, such as the owner, borrower, or sales agent, and the terms and conditions of any past or present sale but does

not guarantee the accuracy of the information.

FHA/VA Case No.

Supplemental Addendum

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

24231 stewart

Scott Majewski

24231 Stewart Ave

Warren

Macomb

48089

CMG Financial

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

File No.

Page 53

FHA/VA Case No. 

PRD - Page 1

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

Page 54

FHA/VA Case No. 

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

Plat Map

Scott Majewski

24231 Stewart Ave

Warren

Macomb

MI

48089

CMG Financial

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

Page 55

FHA/VA Case No. 

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

Building Sketch (Page - 1)

Scott Majewski

24231 Stewart Ave

Warren

Macomb

MI

48089

CMG Financial

Borrower

Lender/Client

First Floor

[691 Sq ft]

7'

10'

32.7'

10'

24'

Basement

[576 Sq ft]

24'

24'

24'

24'

Finished Non Livable Area

[252.8 Sq ft]

24'

8'

5'

5'

5'

7'

8'

Bath

Bedroom

Bedroom

Bath

Kitchen

Living

Foyer

 Patio

[121.8 Sq ft]

8.7'

14'

8.7'

14'

Covered Patio

 Porch

[107 Sq ft]

9'

15'

9'

3.5'

4'

7'

4'

4.5'

Uncovered Porch

2 Car Detached

[440 Sq ft]

20'

22'

20'

 Patio

[242 Sq ft]

11'

22'

11'

22'

Covered Patio

Shed

[310 Sq ft]

10'

31'

10'

31'

Balcony

[71.2 Sq ft]

6'

12'

6'

12'

Uncovered Balcony

TOTAL Sketch by a la mode

Property Address

City

County

State

Zip Code

Page 56

FHA/VA Case No. 

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

Building Sketch (Page - 2)

Scott Majewski

24231 Stewart Ave

Warren

Macomb

MI

48089

CMG Financial

Borrower

Lender/Client

TOTAL Sketch by a la mode

Area Calculations Summary

Living Area

Calculation Details

First Floor

691 Sq ft

 7 × 4

 = 

28

 24 × 24

 = 

576

 8.7 × 10

 = 

87

Total Living Area (Rounded):

691 Sq ft

Non-living Area

2 Car Detached

440 Sq ft

 22 × 20

 = 

440

 Patio

242 Sq ft

 22 × 11

 = 

242

Shed

310 Sq ft

 31 × 10

 = 

310

 Porch

107 Sq ft

 15 × 5

 = 

75

 3.5 × 4

 = 

14

 4.5 × 4

 = 

18

 Patio

121.8 Sq ft

 14 × 8.7

 = 121.8

Finished Non Livable Area

252.8 Sq ft

 12 × 5

 = 

60

 8 × 24

 = 

192

 Arc

 = 

0.8

Balcony

71.2 Sq ft

 12 × 6

 = 

72

 Negative Arc = 

0.8

Basement

576 Sq ft

 24 × 24

 = 

576

Property Address

City

County

State

Zip Code

Page 57

FHA/VA Case No. 

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

Subject Photo Page

Scott Majewski

24231 Stewart Ave

Warren

Macomb

MI

48089

CMG Financial

Subject Front

Sales Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

24231 Stewart Ave

91,000

691

4

1

1.0

N;Res;

N;Res;

9240 sf

Q4

85

Subject Rear

Subject Street

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

Page 58

FHA/VA Case No. 

Form PICINT6 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Interior Photos

Scott Majewski

24231 Stewart Ave

Warren

Macomb

MI

48089

CMG Financial

Side of Subject

Side of Subject

Central Air

Garage

Garage

Kitchen

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

Page 59

FHA/VA Case No. 

Form PICINT6 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Interior Photos

Scott Majewski

24231 Stewart Ave

Warren

Macomb

MI

48089

CMG Financial

Foyer

Living

Living

Deferred Maintenance

Deferred Maintenance

Kitchen

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

Page 60

FHA/VA Case No. 

Form PICINT6 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Interior Photos

Scott Majewski

24231 Stewart Ave

Warren

Macomb

MI

48089

CMG Financial

Bedroom 1

Unfinished Stairs

Unfinished Floor

2nd Floor

Finished Non Livable Area

Finished Non Livable Area

Finished Non Livable Area

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

Page 61

FHA/VA Case No. 

Form PICINT6 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Interior Photos

Scott Majewski

24231 Stewart Ave

Warren

Macomb

MI

48089

CMG Financial

Balcony

Finished Non Livable Area

Bathroom

Electrical

Furnace/Hot Water

Basement

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

Page 62

FHA/VA Case No. 

Form PICINT6 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Interior Photos

Scott Majewski

24231 Stewart Ave

Warren

Macomb

MI

48089

CMG Financial

Across From Subject

Behind Subject

Street

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

Page 63

FHA/VA Case No. 

Form PIC3X5.CR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Comparable Photo Page

Scott Majewski

24231 Stewart Ave

Warren

Macomb

MI

48089

CMG Financial

Comparable 1

Prox. to Subject

Sale Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

25247 Lehner St

0.82 miles NE

70,400

690

4

2

1.0

N;Res;

N;Res;

4791 sf

Q4

76

Comparable 2

Prox. to Subject

Sale Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

23094 Columbus Ave

0.50 miles S

92,000

714

5

2

1.0

N;Res;

N;Res;

4356 sf

Q4

84

Comparable 3

Prox. to Subject

Sale Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

14566 Stephens Rd

0.10 miles SW

95,000

665

5

2

1.0

A;BsyRd;

N;Res;

8712 sf

Q4

78

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

Page 64

FHA/VA Case No. 

Form PIC3X5.CR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Comparable Photo Page

Scott Majewski

24231 Stewart Ave

Warren

Macomb

MI

48089

CMG Financial

Comparable 4

Prox. to Subject

Sale Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

23138 Stewart Ave

0.47 miles S

99,900

846

5

2

1.0

N;Res;

N;Res;

4356 sf

Q4

88

Comparable 5

Prox. to Subject

Sale Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

24395 Columbus Ave

0.14 miles NW

130,000

920

4

2

1.0

N;Res;

N;Res;

9148 sf

Q4

81

Comparable 6

Prox. to Subject

Sale Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

23817 Willard Ave

0.59 miles W

125,000

838

5

2

1.0

N;Res;

N;Res;

6970 sf

Q4

79

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

Page 65

FHA/VA Case No. 

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

Aerial Map

Scott Majewski

24231 Stewart Ave

Warren

Macomb

MI

48089

CMG Financial

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

Page 66

FHA/VA Case No.

Form EC2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

RSDS Valuations LLC

24231 Stewart Ave, Warren, MI 48089

0401G

26099C0401G

09/29/2006

Michael Cascardo

Appraiser

05/23/2025

ENVIRONMENTAL COMPLIANCE RECORD

SINGLE FAMILY PROPERTY DISPOSITION

FHA CASE NUMBER:

PROPERTY ADDRESS:

COMPLIANCE FINDINGS

SOURCE DOCUMENTATION

HISTORIC PRESERVATION

Property

is not

listed on the National Register of

Historic Places.

Property

is not

located in an Historical District.

Note: An appropriate deed restriction will be required if

property meets either of the foregoing conditions.

Checked National Register of

Historical Places

Checked National Register of

Historical Places

FLOODPLAIN

Property

is not

located within the 100-year

floodplain (Zones A & V).

Note: Flood insurance may be required.

Panel #:

Map #:

Date of Map:

AIRPORT RUNWAY CLEAR ZONES (24 CFR 51D)

Property

is not

located within boundary of runway

zones.

If so,

** has the airport operator declined to acquire the

property?

Yes

** a signed disclaimer is required (24 CFR Part 51D).

Property not within 3,000 feet of

the runway clear zone.

SUMMARY

Additional actions

are

are not

required on the basis of the findings above.

If additional

actions are required, describe them in an attachment.

NOTE:

OTHER

ENVIRONMENTAL

STATUTES,

EXECUTIVE

ORDERS

AND

AUTHORITIES

The remaining statutes and authorities cited at 24 CFR 50.4 do not require compliance because they

are not relevant to property disposition actions which do not involve new construction.

Preparer:

Supervisor:

Title:

Date:

Page 67

FHA/VA Case No.

24231 stewart

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

File No.

UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM

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

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 are either 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.

UAD Version 9/2011 (Updated 1/2014)

Page 68

FHA/VA Case No.

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

UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM

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

Quality Ratings and Definitions (continued)

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.

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.

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.

Example:

3.2 indicates three full baths and two half baths.

UAD Version 9/2011 (Updated 1/2014)

Page 69

FHA/VA Case No. 

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

UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM

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

Abbreviations Used in Data Standardization Text

Abbreviation

Full Name

Fields Where This Abbreviation May Appear

A

Adverse

Location & View

ac

Acres

Area, Site

AdjPrk

Adjacent to Park

Location

AdjPwr

Adjacent to Power Lines

Location

ArmLth

Arms Length Sale

Sale or Financing Concessions

AT

Attached Structure

Design (Style)

B

Beneficial

Location & View

ba

Bathroom(s)

Basement & Finished Rooms Below Grade

br

Bedroom

Basement & Finished Rooms Below Grade

BsyRd

Busy Road

Location

c

Contracted Date

Date of Sale/Time

Cash

Cash

Sale or Financing Concessions

Comm

Commercial Influence

Location

Conv

Conventional

Sale or Financing Concessions

cp

Carport

Garage/Carport

CrtOrd

Court Ordered Sale

Sale or Financing Concessions

CtySky

City View Skyline View

View

CtyStr

City Street View

View

cv

Covered

Garage/Carport

DOM

Days On Market

Data Sources

DT

Detached Structure

Design (Style)

dw

Driveway

Garage/Carport

e

Expiration Date

Date of Sale/Time

Estate

Estate Sale

Sale or Financing Concessions

FHA

Federal Housing Authority

Sale or Financing Concessions

g

Garage

Garage/Carport

ga

Attached Garage

Garage/Carport

gbi

Built-in Garage

Garage/Carport

gd

Detached Garage

Garage/Carport

GlfCse

Golf Course

Location

Glfvw

Golf Course View

View

GR

Garden

Design (Style)

HR

High Rise

Design (Style)

in

Interior Only Stairs

Basement & Finished Rooms Below Grade

Ind

Industrial

Location & View

Listing

Listing

Sale or Financing Concessions

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

Basement & Finished Rooms Below Grade

O

Other

Design (Style)

op

Open

Garage/Carport

Prk

Park View

View

Pstrl

Pastoral View

View

PwrLn

Power Lines

View

PubTrn

Public Transportation

Location

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

rr

Recreational (Rec) Room

Basement & Finished Rooms Below Grade

RT

Row or Townhouse

Design (Style)

s

Settlement Date

Date of Sale/Time

SD

Semi-detached Structure

Design (Style)

Short

Short Sale

Sale or Financing Concessions

sf

Square Feet

Area, Site, Basement

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

Woods

Woods View

View

Wtr

Water View

View

WtrFr

Water Frontage

Location

wu

Walk Up Basement

Basement & Finished Rooms Below Grade

UAD Version 9/2011 (Updated 1/2014)

Page 70

FHA/VA Case No. 

License

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

Page 71

FHA/VA Case No. 

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

Location Map

Scott Majewski

24231 Stewart Ave

Warren

Macomb

MI

48089

CMG Financial

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

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