Karchinski.pdf

Rebecca L Karchinski, Petitioner V Township Of Ravenna, Respondent · 25-002728-TT

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GRETCHEN WHITMER 

GOVERNOR 

DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS 

'°ECEIVED 

JUN 0% 2025 

. 

MICHIGAN TAX TRIBUNAL 

STATE OF MICHIGAN 

MARLON 

|. BROWN, DPA 

LANSING 

DIRECTOR 

PROPERTY TAX APPEAL PETITION FORM 

VALUATION / EXEMPTION / CLASSIFICATION APPEAL 

Non-Property tax disputes. 

Do not use this form to appeal Principal Residence Exemption, Qualified Agricultural Exemption, Special Assessment, or 

{e.9. Board of Review Decision or Notice of Uncapping) with this Smali Claims Petition, if applicable. If you do not 

submit this document, you may be held in default. 

Pursuant to Michigan Tax Tribunal Rule (TTR) 277(3), you MUST submit a copy of the notice giving rise to the appeal 

Section 1: Petitioner’s Contact Information 

First 

Name 

ME 

Last Name/Company Name 

ip) 

QL Com Korein: oS les 

L 

sothingk 

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

DAC Webogr 

WY 

City. 

or Town 

State 

ZIP Code 

BLL, 

My 

| Yay bl 

Telephone Number 

Fax Number 

Bal) Yi - 519 

E-mail Address (do not enter unless you want MTT fo send all correspondence via e-mail) 

Cebeccakarchinsi, @ Mahoo. Com 

Section 2: Petitioner's Attorney/Authorized Representative’s Contact Information 

First Name 

MI). 

Last Name 

Firm Name (if any) 

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

City or Town 

State 

ZIP Code 

Telephone Number 

Fax Number 

E-mail Address {do not enter unless you want MTT to send afl correspondence via e-mail} 

Section 3: Subject Property Information 

[ How many 

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

parcels areyou | [[} vest 

[1] nov 

appealing? 

*If yes, use a multiple parcel form for information regarding any contiguous parcels. 

**If no, you must file separate appeals for each no

STATE OF MICHIGAN 

GRETCHEN WHITMER 

DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS 

MARLON I. BROWN, DPA 

GOVERNOR 

LANSING 

DIRECTOR 

Section 4: Issues Being Appealed check 

all that appiy) 

|X True Cash and Taxable Value 

£3 Poverty Exemption 

J Taxable Value Only (calculation) 

[1 Disabled Veterans Exemption 

O Uncapping of Taxable Value 

[1 Eligible Manufacturing Personal Property (ESA} 

[OJ Exemption from Taxation (other than the denial of a 

1 Classification 

Principal Residence or Qualified Agricultural Exemption) 

Section 5: Explain the Reason for this Appeal 

QUE heose Was Kinished being built 

vn Jone of gol, 

our bank (epi eed 

an offs 

ad yo be done \n order 

dn 

CecRive oof Pan With thom. The 

oafPra $00 Cami bocly 

ol 

% 3\y 

1) RNA EES 

YS 

Sgn El cankly 

\Dwwer Yhen oho 

owate. Town (f Tas assed Gnd hag our taxable Value 

ad 

VAY aR TTS hes Put 

oo Kinaliod Stain ons 

Now Trok 

LF boxes Will 

be 

An 

fended 

oy 

Nao 

Ly 

jf BOOS 

role Ahan ssfacked. 

| wesold 

Nike 48 add yn 

Roe, oUF odedtage ak 

ALO. WS acvaiq \T1g 

Ledl attach 

sur 

RPS oR for 

dot umantodion . 

cl 

Section 6: Jurisdictional Issues 

Year(s) you are appealing: 

Did you protest the assessment at a Board of Review (BOR)? [if Yes 

|] No 

If Yes, check which BOR you attended AND attach the BOR decision: I 

arch 

[i] July 

[| December 

If No, check the applicable reason(s): 

[J Not required to attend 

Assessment Change Notice was not received by Petitioner 

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

Appealing within 35 days of State Tax Commission Order 

Appealing within 35 days of receipt of Notice of Uncapping

STATE OF MICHIGAN 

GRETCHEN WHITMER 

DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS 

MARLON I. BROWN, DPA 

GOVERNOR 

LANSING 

DIRECTOR 

Section 7: Valuation Information *use the muitiple parcet form for additional, contiguous parcels. 

Parcel Identification Number: 

H2- 135-004 

- OHO 1-\0 

Classification of Property: 

Real 

Personal 

(check one) 

Agricultural 

Commercial 

Industrial 

Residential 

Timber-Cutover 

Developmental 

~~ tility 

(check one) 

Current i 

Value (also known as State Equalized Value) as established by the BOR: 

BO, 109 

Current Taxable Value as established by the BOR: a 

‘ 

199, 91Q 

What do you believe is the fair market value (also known as True Cash Value)? 

221% 

v1") 

Multiply the True Cash Value by .5 and enter’here. This is your contention of Assessed Value, 

\50% 

55% 

If you believe the Taxable Value differs from your contention of Assessed Value, enter your contention of Taxable Value. 

15%, 5¥g 

Section 8: Classification Information ony the wi Dep't of Treasury may appeal this issue to the Tribunal 

Parcel Identification Number: 

Current Classification of Property as established by Board of Review: 

Real 

Personal 

{check one) 

a 

Agricultural 

Commercial 

Industrial 

Residential 

Timber-Cutover 

Developmental 

Utility 

(check one} 

What do you believe is the property's classification? 

Real 

Personal 

(check one) 

O 

Agricultural 

Commercial 

Industrial 

Residential 

Timber-Cutover 

Developmental 

Utility 

(check one) 

If improved property, how is the property currently being used? 

If improved property, for what use was the property designed?

STATE OF MICHIGAN 

GRETCHEN WHITMER 

DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS 

MARLON I. BROWN, DPA 

GOVERNOR 

LANSING 

DIRECTOR 

Fee Information 

Daes the subject properly have a Principal Residence Exemption of at least 50% as of the date of the filing of this petition? 

Bes 

O No 

| 

Are you appealing ONLY the denial of a Poverty Exemption or Disabled Veterans Exemption? 

[} Yes Swe 

If you answered yes to either or both of the above questions, you are not required to pay any filing fees. 

The filing fee is based on the greater of the State Equalized Value or Taxable Value in contention, 

If you are appealing more than one 

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

$25.00 will be added for each additional parcel being appealed, not to exceed a total filing fee of $1,000. 

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

the State Equalized Value or Taxable Value in contention is: 

Filing Fee is: 

$100,000.00 and under 

$125.60 

$100,000.01 to $500,000.00 

$200.00 

$0ver $500,000.00 

$300.00 

If your property is 

NOT residential property (see MCL 206.762) and 

the State Equalized Value or Taxable Value in contention is: 

Filing Fee is: 

$100,000.00 and under 

$250.00 

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

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

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

Signature required 

Petitioner or Attorney/Authorized Representative’s Signature: 

4 

Ist

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 

07/31/2024 

Borrower 

Loan Term 

12 year(s) 

Closing Date 

08/01/2024 

oe EN KARCHINSKI 

Ir 

Purpose 

~~ HOME EQUITY LOAN 

Disbursement Date 

08/06/2024 

R 

OM 

40451 

Product 

FIXED RATE 

Settlement Agent 

avenna 

File # 

Lender 

Lake Michigan Credit Union 

Loan Type 

Conventional [IFHA 

Property 

3267 MORTIMER ST 

PO Box 2848 

Ova O 

RAVENNA, Mi 49451 

Grand Rapids, MI 49501-2848 

Loan ID # I 

Appraised Prop. Value 

$319,177.00 

) 

mic# 

oF 

Can this amount increase after closing? 

Loan Amount 

$ 50,000 

NO 

Interest Rate 

6.990% 

NO 

Monthly Principal & Interest 

$513.93 

NO 

See Projected Payments below for your 

Estimated Total Monthly Payment 

Does the loan have these features? 

Prepayment Penalty 

NO 

Balloon Payment 

NO 

Projected 

P 

Payment Calculation 

Years 1-12 

Principal & Interest 

$513.93 

Mortgage Insurance 

$0.00 

Estimated Escrow 

’ 

$0.00 

Amount can increase over time 

Estimated Total 

Monthly Payment 

$514 

This estimate includes 

In escrow? 

Estimated Taxes, Insurance 

$0.00 

[property Taxes 

: 

NO 

& Assessments 

[Homeowner's Insurance 

NO 

Amount can increase over time 

a month 

other: 

NO

CLEVELAND APPRAISAL COMPANY, LLG 

File No, 

 2003327-03 

CASE NO. 

Uniform Residential Appraisal Report 

The 

burposa of this at 

ort 

is to 

provide the lender/dient 

with an 

accurate, and adequately 

supported. opinion of the market 

value of the sublect 

propetty. 

Property Address 3267 MORTIMER ST 

Clty 

RAVENNA 

State 

MI 

Zp Code 

49451 

Borrower 

STEVEN KARCHINSK] 

1 

Owner of Public Record 

STEVEN & REBECCA KARCHINSKI 

County 

MUSKEGON 

Legal Description SEE ADDENDUM 

Assessor's Parcel ff 

61~43-725-004-0007-10 

Tax Year 

2000 

RE. Taxes § 2,023 

Neighborhood Name RAVENNA 

Map Reference 

SEE ATTACHED 

Census Tracl 

0028.00 

Occupant 

[XJ Owner [| Tenant |] Vacant_Special Assessments § 

0 

PUD 

HOAS 

0 

peryeert 

 jpermonth 

= Property Rights 

Appraised |X] 

Fee Simple |] Leasehold 

[| Other (desaivel 

Assignment Type [| Purchase Transaction |_| Refinance Transaction | X | Other (describe) HOME EQUITY 

Lendar/Cllent LAKE MICHIGAN CREDIT UNION 

Address 4027 LAKE DR SE, STE 100, GRAND RAPIDS, Mi 49546 

Is the sublect 

tly 

curently 

offered for sale or has jt been offered for sale in Ihe twelve 

months 

prior lo the effective date of this 

appraisal? 

Yes 

|X| 

No 

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

SWMRIC MLS SYSTEM 

| Jad [I] did not analyze the contract for sale for the subject purchase transaction. Explain the results of he analysis of the contract for sale or why the analysis was not 

performed, 

Contract Prics § 

Date of Contract 

Is the property seller the owner of publis record? 

| |Yes| 

[No 

Dala Sourcafs) 

Is there any financial assistance {loan charges, sale concessions, gilt or down payment assistance, efc.) lo he paid by any party on behalf of the borrower? 

Ives [I] No 

If Yes, raport the total dollar amount ang dascribe the items to be paid. 

ON 

Note: Race and the racial composition 

of the neigh 

Hel GE TBA 

BI ArabrerISHEs 

= 

= 

Glide 

i 

ate: 

ay 

Lovalion] 

[Urban 

| X fSuburban| 

Rural 

Property Values | X 

Stable 

Dediining | PRICE 

AGE 

8S 

Buit-Up { X | Over 75% 

25.75% 

Under 25% 

Demand/Supgly | X | Shortage 

InBalance| 

_[OverSupply| 

§ (000) 

(yrs) 

| 2-4 Unit 

% 

Growth 

Rapid 

X | Stable 

Slow 

Marketing Tims | X | Under3mihs { |3-6 mths 

Overémihy 

50 

Low 

1 

| MuliiFamily 

5 

% 

x Neighborhood Boundaries 

M 46 NORTH, MAPLE ISLAND RD WEST, CLEVELAND ST SOUTH, 

1,000 

High 

158 | Commercial 

5 

% 

ei) KENOWA AVE EAST, 

285 

Pred. 

34 

| Other VAC 

10 

% 

5 Nelohborhood Description THE SUBJECT IS LOCATED IN THE VILLAGE OF RAVENNA, MUSKEGON COUNTY MICHIGAN. 

Market Conditions (including support for the above conclusions) SEE TEXT ADDENDUM, 

Dimensions 

IRREGULAR 

Area 

30482 sf 

Shape 

IRREGULAR 

View 

N;Res; 

Spexific Zoning Classification 

R-2 

Zoning Description LOW DENSITY RESIDENTIAL 

Zoning Compliance 

| X 

{Legal 

Legal Nonconforming {Grandfathered se) 

[ [No Zoning 

| legal (describe) 

Is the highest and best use of subject properly 

as improved {or 

as proposed per plans and spagifications) the present use? [Xives || No 

if No, describe. 

Utilities 

Public Other (describa) 

Public Other {describe} 

Off-site Improvements-Type 

Public 

Private 

Electicly 

|X| 

Walter 

X 

Street 

PAVED ASPHALT 

X 

Gas 

X 

Sanitary Sewer 

{X 

Alley 

None 

FEMA Special Flood Hazard Area [ves [XTNo FEMA Flood Zone X 

FEMAMap# 26121C0330D 

 FEMAMap Date 07/06/2015 

Are the ulifities and/or off-site improvements 

typical for the market area? ) X | Yes 

No_|fNo, describe, 

Are there any adverse site conditions or exlemal factors (easements, encroachments, environment conditions, fand uses, ele)? | | Yes [ X [No 

If Yes, describe. 

THE APPRAISER HAS NOT CHECKED THE LAND RECORDS FOR RECORDED EASEMENTS AND HAS ONLY REPORTED 

APPARENT EASEMENTS, ENCROACHMENTS AND OTHER ADVERSE CONDITIONS. 

ner 

DekS ERE 

fhe 

Ard 

iE 

REGHor 

Ao 

ater 

Units 

{ X 

{One| 

| One with Accessory Unit 

Concrete Slab 

[Crawl Space | Foundation Walls CEMENT/GOOD 

Floors, 

WD/CPTIGOOD 

#ofSlorles 

1.28 

X| 

Full Basement 

[| Partial Basement | Exterior Walls__ VINYL/GOOD 

Walls 

Drywall/GO0OD 

Type | X 

{Dati 

JAH 

S-Det./End Unit | Basement Area 

1440 

sq. fl. | Roof Surface 

A SHINGLE/GOOD 

TrimiFinish Wood/GOOD 

X|exisling | | Proposed] 

[Under Congl. | Basement Finish 

[i] 

% | Gulters 

& Downspouts Alumn/GOOD 

Bath Floor TILE/GOOD 

Design (Style) MULTI 

X] Outside EntryExil_|Sump Pump | Window Type 

VinyliGOOD. 

Bath Wainscot 

_F GLS/GOOD 

Year Built 

2023 

Evidence of 

Infestation 

Storm Sash/tnsulated VINYL/GOGD 

Car Storage. There 

Effective 

Age {Yrs) 

1 

Da 

5: 

Satfemsnt 

Screens 

ALUMN/GOOD 

IX] Driveway 

_#ofCars 

4 

Attic 

Nong 

Heating| 

X [FWAL| 

_[HWEI 

Radiant | Amenilies 

Woodstove(s)# 

O | Driveway Surface Grav. C Pad 

Diop Stalr 

Stairs 

[TTother 

TFuet 

Gas 

Fireplace(s} 

#0 

Fence None 

X | Garage 

 #of Cars 2 

Floor 

X/ 

Scuttle 

Cooling 

_[X1 Genval 

Air Conioning || X [Patisleck 0/1 

|X Porch 

1 

Camport__#of Cars O 

Finished 

Heated 

[_Tindiicual]l_] other 

Pod None 

Other None 

X1at 

[Joe [Toul 

Appliances [X] Refrigerator [X | Range/Oven [X Inishwasher] X IDisposal 1 IMicrowavel 

X [Washer/Dryer | 

other (describe)

CLEVELAND APPRAISAL COMPANY, LLC 

File No, 

 2003327-03 

CASE NO. 

Uniform Residential Appraisal Report 

Theragre 

3 

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

250,000 

to§ 

400,000 

era 

are 

6 

comparable sales in the sublect neighborhood within the past twelve months ranging in sale price from § 

250,000 

108 

400,000 

FEATURE 

SUBJECT 

COMPARABLE SALE # 1 

COMPARABLE SALE #2 

COMPARABLE SALE #3 

Address 

3267 MORTIMER ST 

3526 HAYMEADOW AVE 

3491 HAYMEADOW AVE 

3889 BARNES RD 

RAVENNA, M] 49451 

RAVENNA, MI 43451 

RAVENNA MI 48451 

RAVENNA, Mi 49451 

Proximity 

to Sublect 

| 

FERATEAEN 

79 mies W 

81 miles W 

5.78 miles W 

Sale Price 

$ 

2 

215,280 

: 

a 

280,000 

[Ei 

320,000 

SlePrice/Grosstiv. Area 

000 

sqft|s 

20040 

soit 

BEE 

233.14 

enn 

ERERREAS 

18100 

ow 0FEEIE 

Data Source(s! 

Baa 

SWMRIC#23136986;,00M 126 | 

SWMRIC#23137148;00M 59 

SWMRIC#23027003;D0M 25 

Verification Source(s) 

Er 

TAX RECORDS 

TAX RECORDS 

TAX RECORDS 

VALUE ADJUSTMENTS | DESCRIPTION 

DESCRIPTION 

_ [+-)§ Adjustment] 

DESCRIPTION 

| +{$ Adjustment 

DESCRIPTION __| +) $ Adiusimen! 

Sale or Financin 

Ea 

Armlth 

Armiih 

Armith 

Concassions 

Go 

Conv;8258 

-8,268 

 Conv;7000 

~7,000 

 Conhv;3000 

-3,000 

Date of Sale/Time 

5 

| 

503/24,c02/24 

+2500 

s12/23;¢11/23 

+4,000 

s09/23;c08/23 

+5,500 

Localion 

N;Res; 

N;Res; 

N;Res; 

N;Res; 

Leasehold/Fee Simple 

FEE SIMPLE 

FEE SIMPLE 

FEE SIMPLE 

FEE SIMPLE 

Sita 

30492 sf 

12632 sf 

+5000 

10890 sf 

+5,000 

38768 of 

a 

View. 

N;Res; 

N;Res; 

NiRes; 

N;Res; 

Design (Style) 

OT1.25;MULTI 

BT4.00;MULTI 

Oo 

_DTH.00MULTI 

gq 

DT2,00, TRAD 

q 

uality of Construction 

a4 

Q4 

Q4 

Q4 

Actus) Age 

1 

1 

2 

3 

q 

Condition 

c2 

c1 

-5,000 

c2 

c2 

Above Grade 

Total 

|Bdmst 

Baths | Total 

[Bdms} 

Baths 

+5,000 Total 

[Bdrms) 

Baths 

+5,000 

Total 

|[Bdrms] 

Baths 

=5,000 

Room 

Count, 

[] 

3 

) 

5 

2 

2.0 

i 

5 

2 

2.0 

7 

4 

2.1 

-2,500 

Gross Living Area 

1.718 

54. fi. 

1,200 

sg. it 

+15,540) 

1,201 

se. ft. 

+15 510 

1,768 

sq. ft 

q 

asement 

& 

FIrehat 

P= Traososts | 

1200sf0sfin 

Oo 

1201sfOsfin 

[s 

Osf 

+21,60q 

Rooms Below Grade 

Functional Utility 

AVERAGE 

AVERAGE 

AVERAGE 

AVERAGE 

=] Heating/Cooling 

FWAJCENT 

EWA/CENT 

FWAJ/CENT 

FWAICENT 

aa 

Energy Efficient lems 

WINDOFURN 

WINDO/FURN 

WINDO/FURN 

WINDO/FURN 

ro] GarageiCarport 

2gaddw 

2gaddw 

2gaddw 

2gaddw 

Porch/Patio/Deck 

DECK/PORCH 

DECKIPORCH 

DECK/PORCH 

DECK/PORCH 

9 

$14,782 

$s 

22510 

|X] 

| 

§ 

16,600 

Adjusted Sale Prica 

Net ad) 

of Comparables 

i$ 

290,062 

Hi8 

302,510 

[Gross:A 

$336,600 

741 

[XT 

| 

Ted not research 

the sale or transfer history 

of the subject properly 

and comparable sales. 

f not, explain 

Myresesrch 

did 

|X| 

didn 0! reveal any 

Dala source(s) SWMRIC / TAX RECORDS 

lor sales o transfers of the subject 

property 

for the three 

years 

prior 

to the effective date of this appraisal. 

Myresoarch 

| oid |X| did nol reveal any prior sales or transfers of the comparable sales for the year prior fo (he date of sale of the comparable sale, 

Data source(s) SWMRIC / TAX RECORDS 

Report the results of the research 

and analysis of he prior sale or transfer history of the subled! 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 SalefTransfer 

Prigg of Prior SalefTransfer 

Data Source(s) 

SWMRIC / TAX RECORDS | SWMRIC / TAX RECORDS! SWMRIC / TAX RECORDS | SWMRIC / TAX RECORDS. 

Effective Date of Data Source(s) 

07/15/2024 

07/15/2024 

07/15/2024 

07/15/2024 

Analysis of prior sale or Iranster history of ihe sublect 

properly and comparable sales THERE WAS NO SALE OR TRANSFER FOR THE SUBJECT 

DURING THE PAST THREE YEARS, 

THERE WAS NO SALE OR TRANSFER FOR ANY OF THE COMPS DURING THE PAST YEAR, 

Summary of Seles Comparison Approach 

THE BEST COMPARABLES WERE USED TO DETERMINE THE SUBJECT'S VALUE DESPITE 

DISTANCE OR DATE OF SALE, FINAL RECONCILIATION: ALL APPROACHES TO VALUE CONSIDERED WITH THE MOST 

WEIGHT GIVEN TO THE SALES APPROACH, THE INCOME APPROACH 18 NOT TYPICALLY DONE ON A SINGLE FAMILY OWNER 

OCCUPIED PROPERTY.

CLEVELAND APPRAISAL COMPANY, LLC 

File No. 

 2003327-03 

i 

. 

i 

CASE NO. 

Uniform Residential Appraisal Report 

APPRAISERS ARE REQUIRED TO BE LICENSED BY THE DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS, PO 

BOX 30004, LANSING, MICHIGAN 48809. (517) 373-1820. 

TODD B. CLEVELAND CERTIFIED RESIDENTIAL APPRAISER LICENSE # 1204072551, PERFORMED ALL THE WORK ON 

THIS REPORT, 

DIGITAL SIGNATURES: 

THE SIGNATURES CONTAINED IN THIS REPORT ARE DIGITAL SIGNATURES WHICH ARE COMPUTER GENERATED AND. 

PRINTED ON THIS REPORT. THE APPRAISER'S SIGNATURE IS SECURED BY A PASSWORD TC WHICH ONLY THE 

APPRAISER HAS ACCESS TQ. JF ANY MODIFICATIONS WERE MADE ON THIS APPRAISAL, THE SIGNATURE WOULD BE 

ELIMINATED. 

THIS FORM OF CERTIFICATION HAS BEEN APPROVED BY THE APPRAISAL FOUNDATION, THE APPRAISAL FOUNDATION 

18 AUTHORIZED BY CONGRESS AS THE SOURCE OF APPRAISAL STANDARDS AND APPRAISER QUALIFICATIONS, THIS 

APPROVAL CAN BE FOUND IN THE STATEMENT ON APPRAISAL STANDARDS NO, 8 (SMT-8) ON ELECTRONIC 

TRANSMISSION OF REPORTS, THE USE OF ELECTRONIC SIGNATURES WAS APPROVED AND ADOPTED 7/18/1995, 

EFFECTIVE 1/1/1996 BY THE APPRAISAL STANDARDS BOARD. 

N 

DNV 

USE OF THIS FORM IS TO SPECIFICALLY MEET FANNIE MAE'S AND FREDDIE MAC'S NEED FOR AN APPRAISAL WHERE 

THE "INTENDED USE" IS ONLY FOR THE LENDER/CLIENT TO EVALUATE THE PROPERTY...FOR A MORTGAGE FINANCE. 

TRANSACTION. 

= COMMENTS: 

a 

3 

4 

THIS APPRAISER STRICTLY ATTEMPTS TO FOLLOW USPAP GUIDELINES, THEREFORE, FANNIE MAE GUIDELINES ARE 

SUPERCEDED. SO AN NOT TO CREATE A MIS{ FADING REPORT THE BEST COMPARABLES WERE USED IN THIS REPORT 

DESPITE SALE DATES, DISTANCES, GROSS OR NET ADJUSTMENTS. THIS WAS UNAVOIDABLE, 

REGARDING #23 OF THE APPRAISER'S CERTIFICATION: 

THE INTENDED USER OF THIS APPRAISAL REPORT IS THE LENDER/CLIENT. THE INTENDED USE 1S TO EVALUATE THE 

PROPERTY THAT IS THE SUBJECT OF THIS APPRAISAL FOR A MORTGAGE FINANCE TRANSACTION, 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. 

SEE ADDITIONAL ATTACHED COMMENT PAGE(S). 

THIS IS AN APPRAISAL REPORT. 

7 

: 

LE 

a COST APPROACH 

TO VAT 

equlranby FATA 

N 

a 

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

Support for the opinion of site 

value (summary 

of comparabls 

land sales 

or other methods for estimating 

sile 

value) 

THERE WERE SIX SITES SIMILAR TO 

THE SUBJECT'S TO SELL IN THIS AREA QVER THE PAST FIVE YEARS. THEY HAD AN AVERAGE SALE PRICE OF $45,000. 

THIS 1S THEREFORE THE ESTIMATED SITE VALUE OF THE SUBJECT, 

p= ESTIMATED [__] REPRODUCTION OR 

|X REPLACEMENT COST NEW 

OPINION OF SITE VALUE 

= 

45,000 

v4 Source of cosl data LOCAL BUILDERS 

Dwelling 

1,718 

SoFt@$ 

170.00 

= 

282,060 

ry] 

Quality rating (rom cost service 

SEE ADD, _ Effective date 

of cost data 

01/07/2023 | Bsmt. 

1.440 

So.FL@$ 

15.00 

a 

21,600 

a 

Comments on Cost 

Approach 

{gross 

living 

area calculations, depreciation, ste.) 

AC/DCK/PRCH 

5,000 

SITE IMPROVEMENTS: 

Garage/Camport 

465 

Sa.Ft.@$% 

15.00 

=! 

8,975 

Q 

Totel Estimate of Cosk-new 

= 

325,635 

DRIVEWAY 

Less 

Physical 

1 

{Functional 

External 

Depreciation 

3,256 

0 

0 

25 

{ 

3,256 

Deprecialed Gost of Improvements 

=§ 

322,379 

“Asis” Value of Sile Improvements 

=§ 

5,000 

Eslimated 

Remaining 

Economic Life (HUD and VA ont 

- 

99 

Years 

Indicated Vaj lue By 

Cosi 

Aoproach 

= 

372,378 

aE 

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Estimated Monthly Market Rent $ 

X Gross Multiplier 

=$ 

Indicated Value byincome Approach 

Summary 

of Incorne Apbroach {Including support for market rent and GRM) 

SA 

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HE 

PROVECTINFORMATION i 

Elbe

CLEVELAND APPRAISAL COMPANY, LLC 

i 

File No. 

2003327-03 

Uniform Residential Appraisal Report 

CASE NO. 

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

including a unit in a planned unit development (PUD). This report form Is not designed to report an appraisat of a 

manufactured home or a unit in a condominium or cooperative project. 

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

statement of assumptions and limiting conditions, and certifications, Madifications, additions, or deletions to the intended 

use, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may 

expand the scope of work to Include any additional research or analysis hecessary based on the complexity of this appraisal 

assignment. Modifications or deletions to the certifications are also not permitted. However, additional cerlifications that do 

hot constitute material alterations to this appraisal report, such as those required by law or those related ta the appraiser's 

continuing education or membership in an appraisal organization, are permitted. 

SCOPE OF WORK: 

The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the 

reporting requirements of this appraisal report form, induding the foliowing definition of market valus, statement of 

assumptions and limiting conditions, and certifications, The appraiser must, at a minimum: (1) perform a complete visual 

inspection of the Interlor and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the 

comparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources, 

and (5) report his or her analysis, opinions, and conclusions in this appraisal report, 

INTENDED USE; The intended use of this appraisal report is for the lendericlient to evaluate the property that is the 

subject of this appraisal for 

2 mortgage finance transaction. 

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

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

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

the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and 

the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both 

parties are well Informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a 

reasonable time is allowed for exposure in the open market; (4) payment is made In terms of cash in U. S. dollars or in terms 

of financial arrangements comparable thersto; and (5) the price represents the normal consideration for the property sold 

unaffected by speciat or creative financing or sales concessions* granted by anyone associated with the sale, 

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

necessary for those costs which are normally pald by seliers as a resul of tradition or law in a market area; these costs are 

readlly identifiable since the seller pays these costs in virtually all sales transactions, Special or creative financing 

adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional 

lender that is not already involved in the property or transaction. Any adjustment should nat 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 1o the financing or concessions based on the appraiser's judgment. 

STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraisers certification in this report is 

subject to the following assumptions and limiting cenditions: 

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

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

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

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

The sketch Is induded only to assist the reader in visualizing the property and understanding the appralser's determination 

of its size. 

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

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

identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or 

implied, regarding this datermination. 

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

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

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

CLEVELAND APPRAISAL COMPANY, LLC 

Fils No. 

2003327-03 

Uniform Residential Appraisal Report 

CASE NO. 

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

1. 

| have, at a minimum, developed and reporied this appraisal in accordance with the scope of wark requirements stated in 

this appraisal report, 

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

| reported the condition 

of the improvements In factual, specific terms, 

| identified and reported the physical deficiencies that could affect the 

livability, soundness, or structural integrity of the property. 

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

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

place at the time this appraisal report was prepared. 

4.1 developed my opinion of the marke! value of the real property that is the subject of this report based on the sales 

comparison approach to value. 

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

for this appraisal assignment. 

| further certify that 

| considered the cost and income approaches to value but did not develop 

them, unless otherwise indicated in this report. 

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

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

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

6. 

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

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

7. 

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

8. 

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

has been built or wilt be built on the land, 

9. 

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

property and tha comparable sales. 

10. 

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

the sale or financing of the subject property. 

11. 

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

12. 

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

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

13. 

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

reliable sources that 

| believe to be true and correct. 

14. 

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

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

| 

have noted In this appraisal report any adverse conditions {such as, but not limited to, needed repairs, deterioration, the 

presence of hazardous wasles, toxic substances, adverse environmental conditions, etc.) observed during the inspeciion of the 

subject property or that 

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

| have considered these 

adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and 

marketability of the subjecl property. 

15.1 have not knowingly withheld any significant Information from this appraisal report and, ta the best of my knowledge, all 

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

16. 

1 stated in this appraisal repart my own personal, unbiased, and professional analysis, opinions, and condusians, which 

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

17. 

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

| have no present or 

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

| did hot base, elther partially or 

completely, my analysis and/or opinion of market value In this appraisal report on the race, color, refigion, sex, age, marital 

status, handicap, familial status, or national origin of either the prospective owners or occupants of the subject properly or of the

CLEVELAND APPRAISAL COMPANY, LLC 

File No, 

 2003327-03 

CASE NO, 

Uniform Residential Appraisal Report 

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

borrower; the martgagee or its successors and assigns; martgage insurers; government sponsored enterprises; other 

secondary market participants; data collection or reporting services; professional appraisal organizations; any depariment, 

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. 

| am aware that any disclosure or distribution of this appraisal report by me or the lender/dient may be subject to certain 

laws and regulations. Further, 

| am also subjact 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 “elactronic 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. 

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

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

2.1 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 cerfification, 

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 Beard 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 

APPRAISER (ONLY IF REQUIRED) 

Signature. 

Xe 

a 

Name 

“TODO. CLEVELAND™ 

i 

ot 

Name 

Company Name 

CLEVELAND APPRAISAL COMPANY, LEC 

Company Name 

Company Address 6845 Lakita Drive 

Company Address 

FRUITPORT, MI 49415 

Telephone Number 618 402-1766 

Telephone Number 

Email Address 

idclaveland 1234 @gmait com 

Email Address 

Date of Signature and Report 

07/15/2024 

Date of Signature 

Effective Date of Apprat: 

112024 

State Cerlification # 

State Certification iii 

or Slate License # 

or State License # 

State, 

or Other (describe) 

State # 

Expiration Date of Certification or License

CLEVELAND APPRAISAL COMPANY, LLC 

EXTRA COMPARABLES 4-5-6 

Filo No. 

 2003327-03 

CASE NO. 

Bomower STEVEN KARCHINSKI_II 

Property Address 3267 MORTIMER ST 

City 

RAVENNA 

County 

MUSKEGON 

State 

Mi 

Zip Code 

49451 

Lender/Client 

LAKE MICHIGAN CREDIT UNION 

Address 

4027 LAKE DR SE, STE 100, GRAND RAPIDS, MI 49546 

FEATURE 

I 

SUBJECT 

COMPARABLE SALE # 

4 

COMPARABLE SALE # 

5 

COMPARABLE SALE # 

6 

Address 

3267 MORTIMER ST 

410 EAST 87 

6489 LUDA CT 

RAVENNA, M1 49451 

| 

COQPERSVILLE, 

MI 49404 

COOPERSVILLE, Ml 49404 

Proximity 

to Sublest 

PERRIER] 

8.80 miles S 

6.93 miles S 

Sals Price 

i 

Ee 

384,500 

Sele Prce/GrossLiv. Area 

0.00 

sols 

15 

30785 

so 

Ben 

so. ft FRG 

Dats Source(s! 

E 

i: 

SWMRIC#23020205:00M 20 

| SWMRICH#23018011;00M 274 

Verfication Source(s) 

[4 

TAX RECORDS 

TAX RECORDS 

VALUE ADJUSTMENTS. 

i 

DESCRIPTION 

_[+(}§ Adjustment] 

DESCRIPTION 

+-)$ Adjustment 

DESCRIPTION 

+8 

Adjustment) 

Sele or Financin 

Ea 

Armlth 

ArmLth 

Concessions 

Ee 

FHA,5000 

-5,0001 

Conv;0. 

Date of SalelTime 

Sha 

1__s08/23007/23 

+6,000] 

s04/24;002/24 

+2,500 

Location 

N;Res; 

N:Res; 

N;Res; 

LeaseholdiFes Simple 

FEE SIMPLE 

FEE SIMPLE 

FEE SIMPLE 

Site 

30492 sf 

14375 sf 

+8,000 

1.00 ac 

-5,000) 

View 

N;Res; 

NiRes; 

N;Res; 

Design (Style) 

DT1.26MULTI | 

DT2.00,TRAD 

0 

DT1.00;MULTI 

aq 

Quality of Construction 

Q4 

Q4 

Q4 

Actual Age, 

1 

5 

0 

1 

Condition 

£2 

c2 

<1 

-5,000 

Above Grade 

Total [Bdms| 

Baths | Tatal [Bdrm] 

Baths 

© Total 

|Bdrms) 

Baths 

45,000 Yola) 

[Bdrms| 

Baths 

Room Count 

6 

3 

2.0 

7 

3 

21 

-2,500 

4 

2 

1.1 

+2,500 

Gross Living Area 

1,718 

sq. fl, 

2130 

sq.ft. 

-12,369 

1,249 

soft 

+14,070 

5a. ft 

Basement & Finished 

1440sf0sfwo 

1085sf0sfin 

+5,628 

1232sf1109sfwo 

a 

Rooms Below Grade 

1rr2br.0ba0o 

-35,000 

Functional Utility 

AVERAGE 

AVERAGE 

AVERAGE 

Heating/Cooling 

FWAICENT 

FWA/CENT 

FWA/CENT 

=q 

Energy Efficient items 

WINDO/FURN 

WINDO/FURN 

WINDO/FURN 

=] Garage/Carport 

2ga4dw 

2gaddw 

2gaddw 

PaorchiPatlo/Dack 

BECK/PORCH 

DECK/PORCH 

DECK/PORCH 

% 

D 

=] Net Adjustment (Total) 

_|iEE067 

5 

3,235 

§ 

 -20,930 

a] Adjusted Sale Prica 

pais 

: 

$ 

of Comparables 

aan 

{$351,665 

$ 

363.570 

wd 

Report lhe results of the research and analysis of the 

prior sale or transfer history of the sublecl 

property 

and comparable sales 

ITEM 

SUBJECT 

COMPARABLE SALES 

4 

| COMPARABLE SALE # 

 § 

COMPARABLE SALEY 

6 

Dats of Prior Sale/Transfer 

Price of Prior Sale/Transfer 

Data Source(s) 

SWMRIC / TAX RECORDS | SWMRIC / TAX RECORDS | SWMRIC / TAX RECORDS 

Effective Date of Data Sourcefs) 

07/15/2024 

07/15/2024 

07/15/2024 

Anelysls of prior safe of transfer history of the siblecl property and comparable sales 

THERE WAS NO SALE OR TRANSFER FOR THE SUBJECT 

DURING THE PAST THREE YEARS, 

THERE WAS NO SALE OR TRANSFER FOR ANY OF THE COMPS DURING THE PAST YEAR,

CLEVELAND APPRAISAL COMPANY, LLC 

COMMENT ADDENDUM 

File No. 

 2003327-03 

Case No. 

Borrower 

STEVEN KARCHINSKI 

H 

Property Address 

3267 MORTIMER ST 

Clty 

RAVENNA 

County 

MUSKEGON 

State 

MI 

Zlp Code 

48451 

Lender/Client 

LAKE MICHIGAN CREDIT UNION 

Address 4027 LAKE DR SE, STE 100, GRAND RAPIDS, Mi 49546 

MARKET VALUE AS DEFINED BY FANNIE MAE: 

MARKET VALUE IS THE MOST PROBABLE PRICE WHICH A PROPERTY SHOULD BRING IN A COMPETITIVE AND 

OPEN MARKET UNDER ALL CONDITIONS REQUISITE TO A FAIR SALE. THE BUYER AND SELLER, EACH ACTING 

PRUDENTLY, KNOWLEDGEABLY AND ASSUMING THE PRICE IS NOT AFFECTED BY UNDUE STIMULUS. IMPLICIT IN 

THIS DEFINITION IS THE CONSUMMATION OF A SALE AS OF A SPECIFIED DATE AND THE PASSING OF TITLE 

FROM SELLER TO BUYER UNDER CONDITIONS WHEREBY: (1) BUYER AND SELLER ARE TYPICALLY MOTIVATED; 

(2) BOTH PARTIES ARE WELL INFORMED OR WELL ADVISED, AND EACH ACTING IN WHAT HE CONSIDERS HIS 

OWN BEST INTEREST; (3) 

A REASONABLE TIME IS ALLOWED FOR EXPOSURE IN THE OPEN MARKET; (4) PAYMENT 

IS MADE IN TERMS OF CASH IN U.S. DOLLARS OR IN TERMS OF FINANCIAL ARRANGEMENTS COMPARABLE 

THERETO; AND (5) THE PRICE REPRESENTS THE NORMAL CONSIDERATION FOR THE PROPERTY SOLD 

UNAFFECTED BY SPECIAL OR CREATIVE FINANCING OR SALES CONCESSIONS® GRANTED BY ANYONE 

ASSOCIATED WITH THE SALE, 

ADDITIONAL CERTIFICATION: 

THIS APPRAISER HAS NOT PERFORMED ANY 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 THE ACCEPTANCE OF THIS ASSIGNMENT. 

THE LEGAL DESCRIPTION FOR THE SUBJECT WAS OBTAINED FROM THE TAX RECGRDS AND IS THE FULL AND 

COMPLETE LEGAL DESCRIPTION. LEGAL DESCRIPTIONS LIKE THIS ARE NORMAL AND TYPICAL FOR THE AREA, 

THIS APPRAISER DID NOT INSPECT THE ATTIC UNLESS REASONABLE ACCESS WAS PROVIDED. ALL OTHER 

ROOMS, THE BASEMENT (IF EXISTING) AND ANY OTHER EXTERIOR BUILDINGS WERE INSPECTED, 

PER FANNIE MAE: 

IN MOST CASES THE CLIENT WAS UNSPECIFIC AS TO WHETHER OR NOT THE PARTICULAR ASSIGNMENT WAS 

FANNIE MAE OR FREDDIE MAC RELATED. BY IMPLICATION, IF THE CLIENT REQUIRES THE “NEW FORMS", THE 

NEW FORMS WILL BE USED. THIS APPRAISER WILL, AT HIS DISCRETION, USE WHATEVER METHODS OF 

VALUATION DEEMED IMPORTANT TO A PARTICULAR REPORT PER USPAP. IF A COST OR INCOME APPROACH IS 

NOT DEVELOPED THE IMPLICATION IS THAT NEITHER WERE IMPORTANT TO ESTIMATION VALUE, THIS 

CONSTITUTES A DEPARTURE FROM USPAP BUT PER FANNIE MAE THIS REPORT IS STILL A COMPLETE REPORT, 

The appraiser certifies and agrees that this appraisal was prepared in accordance with the requirements 

of Title XI of the Financial Institutions, Reform, Recovery, and Enforcement Act (FIRREA) of 1989, as 

amended (12 U.S.C. 3331 et seq.), and any applicable implementing regulations in effect at the time the 

appraiser signs the appraisal certification, 

THE SUBJECT HAS BEEN MEASURED USING ANSI STANDARD 2765 GUIDELINES. IT iS UNKNOWN HOW THE 

COMPS SQUARE FOOTAGE REPORTED ON THE MLS AND TAX RECORDS WAS MEASURED, 

COMMENTS CONTINUED: 

LEGAL DESCRIPTION: 

RAVENNA TOWNSHIP VILLAGE OF RAVENNA THAT PART OF LOTS 7 AND 8 BLOCK 4 VILLAGE OF RAVENNA COM 

AT THE NW COR OF SD LOT 7 BLOCK 

4 VILLAGE OF RAVENNA TH § 01D 02M 30S E 145.0 FT TH S 88D 36M 08S E 

80.0 FT TH § 40D 38M 11S E 87.0 FT TH § 01D 02M 30S E 103.97 FT TH S 88D 36M 08S E 86.53 FT TH N 00D 59M 30S 

W 129.84 FT TH N 51D 11M 285 W 302.10 FT TO POB 

THE SUBJECT IS A SINGLE FAMILY DETACHED HOME LOCATED IN THE VILLAGE OF RAVENNA, MUSKEGON 

COUNTY MICHIGAN. 

THERE WAS NO MAP LISTED ON THE TAX RECORDS, THE ONLY MAP AVAILABLE FOR REFERENCE [S THE 

ATTAGHED LOCATION MAP. AT THE TIME OF THE INSPECTION THE SUBJECT'S UTILITIES WERE ON AND 

APPEARED TO BE IN GOOD WORKING ORDER. THE SUBJECT DOES NOT APPEAR TO HAVE BEEN DAMAGED BY 

ANY NATURAL DISASTERS. THE GOST INFORMATION IN THE COST APPROACH SECTION WAS OBTAINED FROM

CLEVELAND APPRAISAL COMPANY, LLC 

COMMENT ADDENDUM 

File No. 

2003327-03 

CASE NO, 

Borrower STEVEN KARCHINSK! 

1 

Property Address _ 3267 MORTIMER ST 

Clty RAVENNA 

County 

MUSKEGON 

State 

Mi 

ZpCote 

49451 

LendedClient 

LAKE MICHIGAN CREDIT UNION 

Address 4027 LAKE DR SE, STE 100, GRAND RAPIDS, Mi 49546 

THE MEDIAN SALE PRICE APPEARS TO HAVE INCREASED BY APPROXIMATELY $14,000 OVER THE PAST YEAR IN 

THIS AREA, DEMAND APPEARS TO EXCEED SUPPLY BY APPROXIMATELY 15 TO 

1 AND MARKETING TIMES 

APPEAR TO HAVE A MEDIAN VALUE OF 6 DAYS, 4 TO 20 DAYS IS THE ESTIMATED EXPOSURE TIME FOR THE 

SUBJECT. 

THE ABOVE INCREASE OF $14,000 WOULD BE $1,167 PER MONTH, NOT ALL OF THIS CAN BE ATTRIBUTED TO 

INCREASES IN VALUE. THEREFORE ALL COMPS WERE GIVEN A $500 PER MONTH ADJUSTMENT, FROM THE DATE 

OF CONTRACT, FOR MARKET CONDITION, 

ALL HOMES WITHIN THE PARAMETERS LISTED ON PAGE ONE OF THE URAR REPORT WERE USED TO 

CALCULATE THE MEDIAN SALE PRICE DATA ABOVE. UNDER THIS METHOD THE UPPER END HOMES AND THE 

LOWER END HOMES CANCEL EACH OTHER OUT AND ONE IS LEFT WITH A GOOD INDICATION OF THE TRENDS IN 

VALUE. IF FOR SOME REASON THERE IS A CONSIDERABLY HIGHER NUMBER OF EITHER UPPER END HOMES OR 

LOWER END HOMES THIS METHOD MAY PRODUCE SKEWED DATA. 

THE SEARCH PARAMETERS USED IN THIS REPORT TO FIND COMPS WERE ALL HOMES WITHIN THE 

NEIGHBORHOOD PARAMETERS THAT ARE ACTIVE, PENDING, OR SOLD WITHIN THE PAST YEAR THAT ARE 

SIMILAR TO THE SUBJECT. 

ADJUSTMENTS MADE IN THIS REPORT WERE CALCULATED FROM PAIRED DATA ANALYSIS, NO TWO COMPS CAN 

ISOLATE ALL OF THE FEATURES GIVEN ADJUSTMENTS FOR. NUMEROUS COMPS WERE NEEDED FOR THIS. 

WHILE THE "STAY AT HOME" ORDER FROM THE GOVERNOR HAS ENDED. MANY PEOPLE ARE STILL AT HOME 

DURING THE DAY, CONTINUING TO WORK FROM HOME. DUE TO THIS, THIS APPRAISER HAS USED MLS PHOTOS 

OF THE COMPS IN THIS REPORT.

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EXPECTED DELIVERY DAY: 

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USPS TRACKING® # 

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EP14H July 2013 Outer

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