3473 S Sharon Rd SE 09.20.25.pdf
Keith S Leaning Petitioner V Township Of Garfield Respondent · 26-002533-TT
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Serial# 605A913E esign.alamode.com/verify 0925-8956 Keith Leaning 3473 S Sharon Rd SE Fife Lake Kalkaska MI 49633 Robert J Reamer Letter of Transmittal ............................................................................................................................................................................................................ GP Restricted ..................................................................................................................................................................................................................... General Text Addendum ...................................................................................................................................................................................................... GP Restricted Use Certifications Addendum ........................................................................................................................................................................ Cost Approach Addendum - Cabin ...................................................................................................................................................................................... Cost Approach Data Source - Page 1 .................................................................................................................................................................................. Cost Approach Data Source - Page 2 .................................................................................................................................................................................. Cost Approach Addendum - 24x24 Pole Building ................................................................................................................................................................ Cost Approach Data Source - Page 1 .................................................................................................................................................................................. Cost Approach Data Source - Page 2 .................................................................................................................................................................................. Cost Approach Addendum - 36x24 Pole Building ................................................................................................................................................................ Cost Approach Data Source - Page 1 .................................................................................................................................................................................. USPAP Compliance Addendum ........................................................................................................................................................................................... Subject Photos ................................................................................................................................................................................................................... Subject Photos ................................................................................................................................................................................................................... Subject Photos ................................................................................................................................................................................................................... Building Sketch ................................................................................................................................................................................................................... Plat Map ............................................................................................................................................................................................................................. Location Map ..................................................................................................................................................................................................................... 1 2 4 5 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Form TOCP - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Client Appraiser File No. Property Address City County State Zip Code TABLE OF CONTENTS Serial# 605A913E esign.alamode.com/verify
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Serial# 605A913E esign.alamode.com/verify Robert J Reamer 2678 Danbury Rd Kingsley, MI 49649-9800 (231) 649-0877 robertjreamer.com 09/25/2025 Keith Leaning 25582 Hopewell Rd Gambier, OH 43022 Re: Property: 3473 S Sharon Rd SE Fife Lake, MI 49633 Borrower: File No.: 0925-8956 Opinion of Value: $ See Attached Breakdown Effective Date: 09/22/2025 In accordance with your request, I have appraised the above referenced property. The report of that appraisal is attached. The purpose of the appraisal is to develop an opinion of market value for the property described in this appraisal report, as improved, in unencumbered fee simple title of ownership. This report is based on a physical analysis of the site and improvements, a locational analysis of the neighborhood and city, and an economic analysis of the market for properties such as the subject. The appraisal was developed and the report was prepared in accordance with the Uniform Standards of Professional Appraisal Practice. The opinion of value reported above is as of the stated effective date and is contingent upon the certification and limiting conditions attached. It has been a pleasure to assist you. Please do not hesitate to contact me if I can be of additional service to you. Sincerely, Robert J Reamer GAA, BAE,Certified General Appraiser License or Certification #: 1205001370 State: MI Expires: 07/31/2027 bob@teamreamer.com Serial# 605A913E esign.alamode.com/verify
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Serial# 605A913E esign.alamode.com/verify Team Reamer 0925-8956 RESTRICTED APPRAISAL REPORT 3473 S Sharon Rd SE Fife Lake MI 49633 Kalkaska See attached addenda. 007-001-003-55 2025 4,441 0 Keith & Anita Leaning 1 Garfield Township 45900 9504.00 Depreciated Replacement Value To establish the as-is depreciated replacements costs of each improvement located on the site for property tax purposes. Keith Leaning 25582 Hopewell Rd, Gambier, OH 43022 Robert J Reamer 2678 Danbury Rd, Kingsley, MI 49649-9800 3473 S Sharon Rd SE Fife Lake, MI 49633 Fee Simple Rural Residential ~115 acres Wooded Site Ranch Average 37 Average 4 2 1.0 780 Crawl Space Land Locked LP Space Heater None 2 Out Buildings Covd Wood Porch Not Developed Form GPRTD2 LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE File No.: SUBJECT Property Address: City: State: Zip Code: County: Legal Description: Assessor's Parcel #: Tax Year: R.E. Taxes: $ Special Assessments: $ Borrower (if applicable): Current Owner of Record: Occupant: Owner Tenant Vacant Manufactured Housing Property Type: SFR 2-4 Family # of Units: Ownership Restriction: None PUD Condo Coop Market Area Name: Map Reference: Census Tract: Flood Hazard ASSIGNMENT The purpose of this appraisal is to develop an opinion of: Market Value (as defined), or other type of value (describe) This report reflects the following value (if not Current, see comments): Current (the Inspection Date is the Effective Date) Retrospective Prospective Approaches developed for this appraisal: Sales Comparison Approach Cost Approach Income Approach Other: Property Rights Appraised: Fee Simple Leasehold Leased Fee Other (describe) Intended Use: Under USPAP Standards Rule 2-2(b), this is a Restricted Appraisal Report, and is intended only for the sole use of the named client. There are no other intended users. The client must clearly understand that the appraiser's opinions and conclusions may not be understood properly without additional information in the appraiser's work file. Client: Address: Appraiser: Address: SALES COMPARISON APPROACH FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3 Address Proximity to Subject Sale Price $ $ $ $ Sale Price/GLA $ /sq.ft. $ /sq.ft. $ /sq.ft. $ /sq.ft. Data Source(s) Verification Source(s) VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjust. DESCRIPTION +(-) $ Adjust. DESCRIPTION +(-) $ Adjust. Sales or Financing Concessions Date of Sale/Time Rights Appraised Location Site View Design (Style) Quality of Construction 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 $ $ $ Summary of Sales Comparison Approach Copyright© 2013 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited. 12/2013 Serial# 605A913E esign.alamode.com/verify
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Serial# 605A913E esign.alamode.com/verify 0925-8956 RESTRICTED APPRAISAL REPORT 07/25/2024 540,000 on line public records The subject has transferred once in the prior 36 months, when purchased by the current owner in what appears to be an arms length sale. The subject is located in a rural setting of detached single family homes with a wide variety of style and value and vacant land with abundant state owned lands nearby for outdoor recreation. ~115 acres Wooded Site Mixed Terrain Surface Appears Adqt AG Agriculture Recreation as the site has not public road access and not available to public utilities Recreational Use Recreational Use Recreational Use N/A N/A N/A The site consists of approximately 115 acres with no public road access and no public utilities available to the site. The improvements include a small cabin which is 2x4 construction and small log exterior and 2 pole buildings. There is an on site well and septic, small solar system with battery backup and generator for short term use. The property is not suitable for year 'round use due to lack of access and lack of public utilities. The scope of work for this assignment was not to develop a market value of the subject. It was to develop a depreciated replacement cost of each structure and site improvement. See attached analysis of each structure. See Attached Breakdown 09/22/2025 22 Scope of Work Limiting Cond./Certifications Narrative Addendum Photograph Addenda Sketch Addendum Map Addenda Additional Sales Cost Addendum Flood Addendum Manuf. House Addendum Hypothetical Conditions Extraordinary Assumptions Keith Leaning 25582 Hopewell Rd, Gambier, OH 43022 Robert J Reamer Robert J Reamer (231) 649-0877 bob@teamreamer.com 09/25/2025 1205001370 MI GAA, BAE,Certified General Appraiser 07/31/2027 09/22/2025 Form GPRTD2 LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE File No.: TRANSFER HISTORY 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): 1st Prior Subject Sale/Transfer Date: Price: Source(s): 2nd Prior Subject Sale/Transfer Date: Price: Source(s): Analysis of sale/transfer history and/or any current agreement of sale/listing: MARKET / SITE / IMPROVEMENTS Subject Market Area and Marketability: Site Area: Site View: Topography: Drainage: Zoning Classification: Description: Zoning Compliance: Legal Legal nonconforming (grandfathered) Illegal No zoning Highest & Best Use: Present use, or Other use (explain) Actual Use as of Effective Date: Use as appraised in this report: Opinion of Highest & Best Use: FEMA Spec'l Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map Date Site Comments: Improvements Comments: RECONCILIATION Indicated Value by: Sales Comparison Approach $ Indicated Value by: Cost Approach (if developed) $ Indicated Value by: Income Approach (if developed) $ Final Reconciliation 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 required inspection based on the Extraordinary Assumption that the condition or deficiency does not require alteration or repair: This report is also subject to other Hypothetical Conditions and/or Extraordinary Assumptions as specified in the attached addenda. Based on the degree of inspection of the subject property, as indicated below, defined Scope of Work, Statement of Assumptions and Limiting Conditions, and Appraiser’s Certifications, my (our) Opinion of the Market Value (or other specified value type), as defined herein, of the real property that is the subject of this report is: $ , as of: , which is the effective date of this appraisal. If indicated above, this Opinion of Value is subject to Hypothetical Conditions and/or Extraordinary Assumptions included in this report. See attached addenda. ATTACHMENTS A true and complete copy of this report contains pages, including exhibits which are considered an integral part of the report. This appraisal report may not be properly understood without reference to the information contained in the complete report. Attached Exhibits: SIGNATURES Client Contact: Client Name: E-Mail: Address: APPRAISER Appraiser Name: Company: Phone: Fax: E-Mail: Date of Report (Signature): License or Certification #: State: Designation: Expiration Date of License or Certification: Inspection of Subject: Interior & Exterior Exterior Only None Date of Inspection: SUPERVISORY APPRAISER (if required) or CO-APPRAISER (if applicable) Supervisory or Co-Appraiser Name: Company: Phone: Fax: E-Mail: Date of Report (Signature): License or Certification #: State: Designation: Expiration Date of License or Certification: Inspection of Subject: Interior & Exterior Exterior Only None Date of Inspection: Copyright© 2013 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited. 12/2013 Serial# 605A913E esign.alamode.com/verify
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• Order Form: Legal Description PARCEL A: P/O NW FR'LY 1/4 OF NW 1/4 AND S 1/2 OF NW 1/4 SEC 1, T25N-R7W DESC AS BEGINNING AT THE NW COR OF SD SEC 1; TH N 89 DEG E, ALG THE N LI OF SD SEC, 1309.99 FT TO W 1/8 LI OF SD SEC; TH S 00 DEG W, ALG SD W 1/8 LI, 1183.10 FT TO N 1/8 LI OF SD SEC; TH S 88 DEG E, ALG SD N 1/8 LI, 1313.80 FT TO THE N/S 1/4 LI OF SD SEC; TH S 00 DEG E, ALG SD N/S 1/4 LI, 1322.52 FT TO E/W 1/4 LI OF SD SEC; TH N 88 DEG W, ALG SD E/W 1/4 LI, 2634.18 FT TO W LI OF SD SEC; TH N 00 DEG E, ALG SD W SEC LI, 2466.42 FT TO POB. CONT 114.95 ACRES M/L. OWNER REQUESTED COMBINATION PROCESSED BY SALLY ON 9/15/18--LDA 2018-006 PARENT PARCEL(S): 40-007-001-005-00, 40-007-001-003-00 CHILD PARCEL(S): 40-007-001-003-55 -------------------------------------------------- QUALIFIED FOREST SCHOOL TAX AFFIDAVIT-CERT# 4379--EFFECTIVE 11/5/2018--RECORDED AT KALKASKA COUNTY REGISTER OF DEEDS AT REFERENCE NO. 3142939 Serial# 605A913E esign.alamode.com/verify Supplemental Addendum Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE 0925-8956 Keith Leaning 3473 S Sharon Rd SE Fife Lake Kalkaska MI 49633 Robert J Reamer Client Appraiser Property Address City County State Zip Code File No. Serial# 605A913E esign.alamode.com/verify
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Serial# 605A913E esign.alamode.com/verify 0925-8956 Assumptions, Limiting Conditions & Scope of Work 3473 S Sharon Rd SE Fife Lake MI 49633 Keith Leaning 25582 Hopewell Rd, Gambier, OH 43022 Robert J Reamer 2678 Danbury Rd, Kingsley, MI 49649-9800 STATEMENT OF ASSUMPTIONS & 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. The appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis of it being under responsible ownership. - The appraiser may have provided a sketch in the appraisal report to show approximate dimensions of the improvements, and any such sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. Unless otherwise indicated, a Land Survey was not performed. - If so indicated, the appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or 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 to do so have been made beforehand. - If the cost approach is included in this appraisal, the appraiser has estimated the value of the land in the cost approach at its highest and best use, and the improvements at their contributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid if they are so used. Unless otherwise specifically indicated, the cost approach value is not an insurance value, and should not be used as such. - The appraiser has noted in the appraisal report any adverse conditions (including, but not limited to, needed repairs, depreciation, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property, or that he or she became aware of during the normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property, or adverse environmental conditions (including, but not limited to, the presence of hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment of the property. - The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by other parties. - The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice, and any applicable federal, state or local laws. - If this appraisal is indicated as subject to satisfactory completion, repairs, or alterations, the appraiser has based his or her appraisal report and valuation conclusion on the assumption that completion of the improvements will be performed in a workmanlike manner. - An appraiser's client is the party (or parties) who engage an appraiser in a specific assignment. Any other party acquiring this report from the client does not become a party to the appraiser-client relationship. Any persons receiving this appraisal report because of disclosure requirements applicable to the appraiser's client do not become intended users of this report unless specifically identified by the client at the time of the assignment. - The appraiser's written consent and approval must be obtained before this appraisal report can be conveyed by anyone to the public, through advertising, public relations, news, sales, or by means of any other media, or by its inclusion in a private or public database. - An appraisal of real property is not a 'home inspection' and should not be construed as such. As part of the valuation process, the appraiser performs a non-invasive visual inventory that is not intended to reveal defects or detrimental conditions that are not readily apparent. The presence of such conditions or defects could adversely affect the appraiser's opinion of value. Clients with concerns about such potential negative factors are encouraged to engage the appropriate type of expert to investigate. The Scope of Work is the type and extent of research and analyses performed in an appraisal assignment that is required to produce credible assignment results, given the nature of the appraisal problem, the specific requirements of the intended user(s) and the intended use of the appraisal report. Reliance upon this report, regardless of how acquired, by any party or for any use, other than those specified in this report by the Appraiser, is prohibited. The Opinion of Value that is the conclusion of this report is credible only within the context of the Scope of Work, Effective Date, the Date of Report, the Intended User(s), the Intended Use, the stated Assumptions and Limiting Conditions, any Hypothetical Conditions and/or Extraordinary Assumptions, and the Type of Value, as defined herein. The appraiser, appraisal firm, and related parties assume no obligation, liability, or accountability, and will not be responsible for any unauthorized use of this report or its conclusions. In developing this appraisal, the appraiser has incorporated only the Sales Comparison Approach. The appraiser has excluded the Cost and Income Approaches to Value, due to being inapplicable given the limited scope of the appraisal. The appraiser has determined that this appraisal process is not so limited that the results of the assignment are no longer credible, and the client agrees that the limited scope of analysis is appropriate given the intended use. Form GPRTDAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE File No.: Property Address: City: State: Zip Code: Client: Address: Appraiser: Address: Copyright© 2010 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited. 5/2010 Serial# 605A913E esign.alamode.com/verify
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Serial# 605A913E esign.alamode.com/verify 0925-8956 Certifications 3473 S Sharon Rd SE Fife Lake MI 49633 Keith Leaning 25582 Hopewell Rd, Gambier, OH 43022 Robert J Reamer 2678 Danbury Rd, Kingsley, MI 49649-9800 APPRAISER'S CERTIFICATION I certify that, to the best of my knowledge and belief: - The statements of fact contained in this report are true and correct. - The credibility of this report, for the stated use by the stated user(s), of the reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions. - I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved. - Unless otherwise indicated, I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. - 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 or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. - My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice that were in effect at the time this report was prepared. - I did not base, either partially or completely, my analysis and/or the opinion of value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property, or of the present owners or occupants of the properties in the vicinity of the subject property. - Unless otherwise indicated, I have made a personal inspection of the property that is the subject of this report. - Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification. Additional Certifications: Additional Comments (Scope of Work, Extraordinary Assumptions, Hypothetical Conditions, etc.): Intended Use and Intended Users: The Intended User of this appraisal report is the Named Client. No additional Intended Users are identified by the appraiser. The Intended User, or agent for the Intended User, has requested the appraiser to prepare an appraisal of the real estate, which is the subject of this appraisal report, for the “Intended Use” as stated in the report. This appraisal report and specified scope of work has been prepared for the identified Intended User and only for the stated Intended Use. Mere possession of this appraisal report, or a copy thereof, by anyone else does not create any legal liability or professional responsibility, contractual or other relationship, guarantee, or warranty by the appraiser(s), appraisal firm and associated staff. No other parties should choose to rely on this report DEFINITION OF MARKET VALUE *: 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. * This definition is from regulations published by federal regulatory agencies pursuant to Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989 between July 5, 1990, and August 24, 1990, by the Federal Reserve System (FRS), National Credit Union Administration (NCUA), Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), and the Office of Comptroller of the Currency (OCC). This definition is also referenced in regulations jointly published by the OCC, OTS, FRS, and FDIC on June 7, 1994, and in the Interagency Appraisal and Evaluation Guidelines, dated October 27, 1994. Keith Leaning 25582 Hopewell Rd, Gambier, OH 43022 Robert J Reamer Robert J Reamer (231) 649-0877 bob@teamreamer.com 09/25/2025 1205001370 MI GAA, BAE,Certified General Appraiser 07/31/2027 09/22/2025 Form GPRTDAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE File No.: Property Address: City: State: Zip Code: Client: Address: Appraiser: Address: SIGNATURES Client Contact: Client Name: E-Mail: Address: APPRAISER Appraiser Name: Company: Phone: Fax: E-Mail: Date Report Signed: License or Certification #: State: Designation: Expiration Date of License or Certification: Inspection of Subject: Interior & Exterior Exterior Only None Date of Inspection: SUPERVISORY APPRAISER (if required) or CO-APPRAISER (if applicable) Supervisory or Co-Appraiser Name: Company: Phone: Fax: E-Mail: Date Report Signed: License or Certification #: State: Designation: Expiration Date of License or Certification: Inspection of Subject: Interior & Exterior Exterior Only None Date of Inspection: Copyright© 2010 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited. 5/2010 Serial# 605A913E esign.alamode.com/verify
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Serial# 605A913E esign.alamode.com/verify Cost Approach Addendum - Cabin 0925-8956 DwellingCost.com Cabin 780 141.88 110,666 Covd Porch 381 26.47 10,085 120,751 120,751 16.7 20,165 41.6 50,232 70,397 50,354 12,450 62,804 The data source for the above replacement costs have been attached to this report . Physical depreciation was determined using the age/life method as the subject has a physical age of 37 years and effective age of 10 years with an economic life of 60years. Depreciation for the structure is then calculated as 10/60 = 16.7% External obsolescence/depreciation is from the lack of access and lack of available utilities. The only access to the subject is via a 2 track trail over state land approximately 2900' or over 1/2 mile from W Sharon Road. Because of the lack of access and utilities the dwelling is not habitable for year 'round use and if sold would likely not be eligible for bank financing limiting available buyers to cash or owner financing, having a negative effect on the value and marketability of the subject. External obsolescence was determined to be 50% after physical obsolescence or a net of 41.6% before the physical obsolescence. The is based upon 47 years of real estate experience, market research and AI research. The site improvements include: On Site Water Well replacement cost estimated at $15,000 less 11/30 age/life 37% depreciation $9,450 as is value On Site Septic System replacement cost estimated at $12,000 from 1988 already exceeded life expectancy 25% min as is value $3,000 62,804 62,804 62,804 62,804 62,800 Form CAP - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE File No. CALCULATIONS Cost Source Component No. Size Unit Cost Cost $ $ $ $ $ $ $ $ $ $ $ $ $ $ Reproduction Replacement Cost New of Improvements $ Plus: Indirect (Soft) Costs $ Plus: Entrepreneurial Profit % $ Total Cost New $ Less: Physical Deterioration % Less: Functional Obsolescence % Less: External Obsolescence % Total Accrued Depreciation (Deterioration & Obsolescence) ($ ) Depreciated Value of Building(s) $ Plus: Contributing Value of Site Improvements $ Depreciated Value of Improvements $ Analysis/Comments: Reconciliation: SUMMARY OF COST APPROACH VALUE INDICATIONS Site Value (Utilized Land Value) $ Improvements Value $ Total Value Indication by the Cost Approach $ Market Rent Equivalency Adjustment $ Value Estimate $ Plus: Excess Land $ Total Value - Cost Approach - Real Estate $ Rounded $ Serial# 605A913E esign.alamode.com/verify
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Serial# 605A913E esign.alamode.com/verify Cost Approach Data Source - Page 1 Form SCNLGL - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Serial# 605A913E esign.alamode.com/verify
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Serial# 605A913E esign.alamode.com/verify Cost Approach Data Source - Page 2 Form SCNLGL - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Serial# 605A913E esign.alamode.com/verify
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Serial# 605A913E esign.alamode.com/verify Cost Approach Addendum - 24x24 Pole Building 0925-8956 DwellingCost.com Pole Building #1 24x24 576 62.68 36,104 36,104 36,104 27.5 9,929 36.25 13,088 23,017 13,087 13,087 Physical Obsolescence/Depreciation determined using the age/life method. The subject is 11years old with no changes since construction with a 40 year economic life 11/40 = 27.5% depreciation. External is from lack of public road access and lack of available utilities 50% after physical deprecation or 36.25% Net 13,087 13,087 13,087 13,087 13,090 Form CAP - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE File No. CALCULATIONS Cost Source Component No. Size Unit Cost Cost $ $ $ $ $ $ $ $ $ $ $ $ $ $ Reproduction Replacement Cost New of Improvements $ Plus: Indirect (Soft) Costs $ Plus: Entrepreneurial Profit % $ Total Cost New $ Less: Physical Deterioration % Less: Functional Obsolescence % Less: External Obsolescence % Total Accrued Depreciation (Deterioration & Obsolescence) ($ ) Depreciated Value of Building(s) $ Plus: Contributing Value of Site Improvements $ Depreciated Value of Improvements $ Analysis/Comments: Reconciliation: SUMMARY OF COST APPROACH VALUE INDICATIONS Site Value (Utilized Land Value) $ Improvements Value $ Total Value Indication by the Cost Approach $ Market Rent Equivalency Adjustment $ Value Estimate $ Plus: Excess Land $ Total Value - Cost Approach - Real Estate $ Rounded $ Serial# 605A913E esign.alamode.com/verify
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Serial# 605A913E esign.alamode.com/verify Cost Approach Data Source - Page 1 Form SCNLGL - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Serial# 605A913E esign.alamode.com/verify
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Serial# 605A913E esign.alamode.com/verify Cost Approach Data Source - Page 2 Form SCNLGL - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Serial# 605A913E esign.alamode.com/verify
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Serial# 605A913E esign.alamode.com/verify Cost Approach Addendum - 36x24 Pole Building 0925-8956 DwellingCost.com Pole Building #2 36x24 864 59.73 51,607 51,607 51,607 27.5 14,192 36.25 18,708 32,900 18,707 18,707 Physical Obsolescence/Depreciation determined using the age/life method. The subject is 11years old with no changes since construction with a 40 year economic life 11/40 = 27.5% depreciation. External is from lack of public road access and lack of available utilities 50% after physical deprecation or 36.25% Net 18,707 18,707 18,707 18,707 18,710 Form CAP - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE File No. CALCULATIONS Cost Source Component No. Size Unit Cost Cost $ $ $ $ $ $ $ $ $ $ $ $ $ $ Reproduction Replacement Cost New of Improvements $ Plus: Indirect (Soft) Costs $ Plus: Entrepreneurial Profit % $ Total Cost New $ Less: Physical Deterioration % Less: Functional Obsolescence % Less: External Obsolescence % Total Accrued Depreciation (Deterioration & Obsolescence) ($ ) Depreciated Value of Building(s) $ Plus: Contributing Value of Site Improvements $ Depreciated Value of Improvements $ Analysis/Comments: Reconciliation: SUMMARY OF COST APPROACH VALUE INDICATIONS Site Value (Utilized Land Value) $ Improvements Value $ Total Value Indication by the Cost Approach $ Market Rent Equivalency Adjustment $ Value Estimate $ Plus: Excess Land $ Total Value - Cost Approach - Real Estate $ Rounded $ Serial# 605A913E esign.alamode.com/verify
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Serial# 605A913E esign.alamode.com/verify Cost Approach Data Source - Page 1 Form SCNLGL - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Serial# 605A913E esign.alamode.com/verify
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Serial# 605A913E esign.alamode.com/verify 0925-8956 Keith Leaning 3473 S Sharon Rd SE Fife Lake Kalkaska MI 49633 Robert J Reamer The use of this report is limited to the client named in the report, the rationale for how the appraiser arrived at the opinion and conclusions set forth in the report may not be properly understood without additional information retained in the appraiser's work file. In Michigan, appraisers are required to be licensed and are now regulated by the Michigan Department of Licensing and Regulatory Affairs, P.O. Box 30018, Lansing MI 48909 The personal inspection was exterior only of the structures. 60-90 60-90 Robert J Reamer 09/25/2025 1205001370 MI 07/31/2027 09/22/2025 Form ID20EC - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Client Appraiser USPAP Compliance Addendum Loan # File # Property Address City County State Zip Code APPRAISAL AND REPORT IDENTIFICATION This Appraisal Report is one of the following types: Appraisal Report This report was prepared in accordance with the requirements of the Appraisal Report option of USPAP Standards Rule 2-2(a). Restricted Appraisal Report This report was prepared in accordance with the requirements of the Restricted Appraisal Report option of USPAP Standards Rule 2-2(b), and is intended only for the use of the client and any other named intended user(s). Users of this report must clearly understand that the report may not contain supporting rationale for all of the opinions and conclusions set forth in the report. ADDITIONAL CERTIFICATIONS I certify that, to the best of my knowledge and belief: The statements of fact contained in this report are true and correct. The report analyses, opinions, and conclusions are limited only by the reported assumptions 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 specified) personal interest with respect to the parties involved. I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment. My engagement in this assignment was not contingent upon developing or reporting predetermined results. My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. My analyses, opinions, and conclusions were developed and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. This appraisal report was prepared in accordance with the requirements of Title XI of FIRREA and any implementing regulations. PRIOR SERVICES I have NOT performed services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. I HAVE performed services, as an appraiser or in another capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. Those services are described in the comments below. PROPERTY INSPECTION I have NOT made a personal inspection of the property that is the subject of this report. I HAVE made a personal inspection of the property that is the subject of this report. APPRAISAL ASSISTANCE Unless otherwise noted, no one provided significant real property appraisal assistance to the person signing this certification. If anyone did provide significant assistance, they are hereby identified along with a summary of the extent of the assistance provided in the report. ADDITIONAL COMMENTS Additional USPAP related issues requiring disclosure and/or any state mandated requirements: MARKETING TIME AND EXPOSURE TIME FOR THE SUBJECT PROPERTY A reasonable marketing time for the subject property is day(s) utilizing market conditions pertinent to the appraisal assignment. A reasonable exposure time for the subject property is day(s). APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature Name Date of Signature State Certification # or State License # State Expiration Date of Certification or License Effective Date of Appraisal Signature Name Date of Signature State Certification # or State License # State Expiration Date of Certification or License Supervisory Appraiser Inspection of Subject Property Did Not Exterior-only from Street Interior and Exterior USPAP Compliance Addendum 2020 Page 1 of 1 Serial# 605A913E esign.alamode.com/verify
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Serial# 605A913E esign.alamode.com/verify Form PICPIX.SR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Subject Photo Page Keith Leaning 3473 S Sharon Rd SE Fife Lake Kalkaska MI 49633 Robert J Reamer Subject Front Sales Price Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location View Site Quality Age 3473 S Sharon Rd SE 780 4 2 1.0 Rural Residential Wooded Site ~115 acres Average 37 Subject Rear Subject Street W SHARON ROAD NEAREST PUBLIC ROAD Client Appraiser Property Address City County State Zip Code Serial# 605A913E esign.alamode.com/verify
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Serial# 605A913E esign.alamode.com/verify Form PICINT6 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Subject Photos Keith Leaning 3473 S Sharon Rd SE Fife Lake Kalkaska MI 49633 Robert J Reamer CABIN INTERIOR 2X4 FRAME CONSTRUCTION WITH SMALL LOG EXTERIOR/CONC CRAWL SPACE 36X24 GARAGE POLE CONSTRUCTION BATTERY PACK FOR SOLAR SYSTEM 36X24 GARAGE INTERIOR 24X24 GARAGE POLE CONSTRUCTION ON SITE WATER WELL Client Appraiser Property Address City County State Zip Code Serial# 605A913E esign.alamode.com/verify
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Serial# 605A913E esign.alamode.com/verify Form PICINT6 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Subject Photos Keith Leaning 3473 S Sharon Rd SE Fife Lake Kalkaska MI 49633 Robert J Reamer ON SITE SEPTIC SYSTEM STREET VIEW ACCESS TO PROPERTY 2 TRACK ACCESS OVER STATE LAND ACCESS TO PROPERTY FROM WEST SHARON ROAD SMALL SOLAR SYSTEM Client Appraiser Property Address City County State Zip Code Serial# 605A913E esign.alamode.com/verify
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Serial# 605A913E esign.alamode.com/verify Form SKT.BLDSKI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Building Sketch Keith Leaning 3473 S Sharon Rd SE Fife Lake Kalkaska MI 49633 Robert J Reamer Client Appraiser Property Address City County State Zip Code Serial# 605A913E esign.alamode.com/verify
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Serial# 605A913E esign.alamode.com/verify Form MAP.PLAT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Plat Map Keith Leaning 3473 S Sharon Rd SE Fife Lake Kalkaska MI 49633 Robert J Reamer Client Appraiser Property Address City County State Zip Code Serial# 605A913E esign.alamode.com/verify
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Serial# 605A913E esign.alamode.com/verify Form MAP LT.LOC - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Location Map Keith Leaning 3473 S Sharon Rd SE Fife Lake Kalkaska MI 49633 Robert J Reamer Client Appraiser Property Address City County State Zip Code Serial# 605A913E esign.alamode.com/verify