Culley.pdf

Mark A Culley, Petitioner V Township Of Waterford, Respondent · 24-003523-TT

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RECEIVED J] 

UN 2 

0 

202 

INsomH 

STATE OF MICHIGAN 

MICHIGAN TAX TRIBUNAL 

GRETCHEN WHITMER 

DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS 

MARLON 

|. BROWN, DPA 

GOVERNOR 

DIRECTOR 

LANSING 

PROPERTY TAX APPEAL PETITION FORM 

VALUATION / EXEMPTION / CLASSIFICATION APPEAL 

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

Non-Property tax disputes. 

Pursuant 

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

(e.g. Board of Review Decision or Notice of Uncapping) with this Small Claims Petition, if applicable. If you do not 

submit this document, you may be held in default. 

Section 1: Petitioner's Contact Information 

First Name 

M.I. 

Last Name/Company Name 

Mase 

A 

Colleg 

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

26S 

Dorothy 

City or Town 

State 

ZIP Code 

Woder ord 

™m | 48329 

Telephone Number J 

Fax Number 

248- 343-6089 

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

MarkCuley 9 @ grail. Cam 

¢ 

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

First Name 

Last Name 

[A 

Firm Name (if arly) 

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 all 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 are you | [[] ves* 

No™ 

appealing? 

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

STATE OF MICHIGAN 

GRETCHEN WHITMER 

DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS 

MARLON 1. BROWN, DPA 

GOVERNOR 

LANSING 

DIRECTOR 

Section 4: Issues Being Appealed (checkal that apply) 

& True Cash and Taxable Value 

[J Poverty Exemption 

[J Taxable Value Only (calculation) 

[J Disabled Veterans Exemption 

| Uncapping of Taxable Value 

[0 Eligible Manufacturing Personal Property (ESA) 

[J Exemption from Taxation (other than the denlal of a 

[1 Classification 

Principal Residence or Qualified Agricultural Exemption) 

Section 5: Explain the Reason for this Appeal 

_ 

TT 244 

$910,000” 

on 

August 25,2023 

— 

m™ ig 

ur iy MHS 

Core Ge 

& 

od 926 00a” 

©n 

B(15/23 

— Tha Cloak 

Cong 

Ao ON 

\Vronea wer Hi 

dovse at 

36SS 

lols wit We? 

£ 899 ,Qes 

 lovk Sold 

are-d ae Sows hn 

~~ 

~ 

2(s, 

fF 1— 

4 

IS, oe” 2185 

Sg 

FEET FTES 

- tu owes VoN lag 

5 329 fx Bi @®R10,800 (276256 

6) 

ET 

feel dhod © Paid 

ymogud vale 

for Hea HooSel 

255 yy OVeEr fon 

4. 

$919 sas 

Section 6: Jurisdictional Issues 

Year(s) you are appealing: 

202 

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

[0] No 

If Yes, check which BOR you attended AND attach the BOR decision: fic! March 

[] July 

[J pecember 

If No, check the applicable reason(s): 

O 

Not required to attend 

Od Assessment Change Notice was not received by Petitioner 

[| Appealing a purported Clerical Error or Mutual Mistake of Fact (if yes, include explanation in Section 8) 

m] Appealing within 35 days of State Tax Commission Order

STATE OF MICHIGAN 

GRETCHEN WHITMER 

DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS 

VARLGELL BROWN, DPA 

GOVERNOR 

LANSING 

Section 7: Valuation Information *use the multiple parcel form for additional, contiguous parcels. 

Parcel Identification Number: 

W-12-06-Y%-009 

Classification of Property: 

Real 

Personal 

(check one) 

Agricultural 

Commercial 

Industrial 

Residential 

Timber-Cutover 

Developmental 

Utility 

(check one) 

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

$479 450 

Current Taxable Value as established by the BOR: 

$419,950" 

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

£910,000" 

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

$455, 

oo 

© 

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

$24,950 

Section 8: Classification Information *Only the MI 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) 

0 

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? 

Ifimproved property, for what use was the property designed?

STATE OF MICHIGAN 

GRETCHEN WHITMER 

DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS 

MARLON |. BROWN, DPA 

GOVERNOR 

LANSING 

DIRECTOR 

Fee Information 

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

[i% Yes 

(| No 

Are you appealing ONLY the denial of 2 Poverty Exemption or Disabled Veterans Exemption? 

O Yes 

[ri No 

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 

$125.00 

$100,000.01 to $500,000.00 

$200.00 

$Over $500,000.00 

$300.00 

If your property is NOT residential property (see MCL 205.762) and 

the State Equalized Value or Taxable Value fn 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 

Petitionkror 

Attorngf/Authorized Representatives Signature: 

Isl 

A 

' 

0

CE 

THIS 

1S NOT A TAX BILL 

L-4400 

Notice of Assessment, Taxable Valuation, and Property Classification 

Spe 

trem 

hot 

sniar the auhont 

uf 

A 295 

ol 

45 

ar 

1 

tl 

" 

go 

JV 

| CHARTER TWP OF WATERFORD 

PARCEL IDE 

| 

| 

Paula J. Moore - ASSESSOR 

| PARCEL CODE NUMBER 

WwW -13-06-476-009 

| 

5200 CIVIC CENTER DRIVE 

| 

WATERFORD 

MI 48329-3773 

| PROPERTY ADDRESS 

3 

H 

. 

| 

; 

3657 DOROTHY LN 

| 

WATERFORD, Mi 48329-1108 

{pe 

| 

PRINCIPAL RESIDENCE EXEMPTION 

o,f xempt As “Homeowners Princo Resend 

100.00% 

Lo 

Exempt As TQualitied Agr ito 

Property” 

00% 

| 

Eom As TMB T Indust Frets 

00% 

| 

| 

ub xempt A 

Tornmetera 

rng’ 

00% 

| 

| 

rept hs tod Fest or 

[Yes 

[KX No 

| 

| 

| xerpt As “Divelcpment Pops 

[J Yes 

[X] 

No 

RTY I$ CLASS IFIED AS: 

401 

SGIDENTIALIMPROVED 

CURRENT 

TENTATIVE AM 

{EAR 

The change 

 laxable value will INCreas 

PRICK AMOUNT 

yearby approximately 

$8,772 

| 

vEAR 

2023 

i 

- 

rent amount 

is 

1000 

anfative | 

71.710 

108.240 

Thor WASAWAS NOT 

a transfer of ownership on this property wn 

The 2024 inflation rate Multiplier is: 1.05 

17} 

Legal Description: 

13N RSE SEC 6 MOUNTAIN VIEW PARKED 2G 

March Board of Review Appeal tnformation: 4 14 

4% > 

g “3 <q 

The Taxable Va 

the Assessed Valine 

the Stale Bay 

zed Value me Hoplite 

whe Transl 

Boar of Review 

Fotesty are made 10 tha 

€ 

mpioting 3 Bo 

son Fora: 

Abe 

the Michigan Deparment pt 1easutys wat 

Ab wwe BIGGIE 

ova 

wer 

1 obtain a 

“Petition to the Board of Review 

Form B38 11-4035) 

o1 oy Hing 

a 

dheecty {ror 

ther chick 

an 

ars of 

[ 

These values, 

the property’ iassiication, o ie 

formation on fine 

5 is incorrect. you may protest to the 

| Local Board of Review by appointment only. The Board of Review will meet Tuesday, March 5th trom 9:00 a.m. to 12:00 noon 

for its organizational meeting. Appointments will be hetd on Monday, March 11th from 9:00 a.m. to 4:30 p.m, Tuesday. March 

| {2th from 9:00 a.m. to 4:30 p.m, and Wednesday, March 13th from 1:30 p.m. to 4:30 p.m. and from 6:00 p.. to 9:00 p.m. Board 

| 

| oof Review appeals by letter will also he accepted, in place of a pers 

| Please call 248-674-6270 to make an appointment. 

received by 8:00 pmoon March 13. 2024 

NOT E58 THAN 14 DA 

pH 

Own 

fore the Bes) mee 

{axes me calculated based on the Taxable ake 

a chang 

@ your (axes The change in out ix bill 

pet above! 

stimatad 350 

2eabie Value number ectarad in he “Ihange faye Prion 

Teac 0 Curent Yeas Comer 

dus 

rl 

State Fauah, 

pet allie ruitipaesd by the 

© guanzates ian 

Fang 

rate 

Epudised sah was 

SVRINE 

AS A TRANSFER 

OF OWNERSHIF of 

y 

PPR 

Cpa yr 

| 

i

CHARTER TWP OF WATERFORD 

5200 CIVIC CENTER DRIVE 

WATERFORD 

MI 48329-3773 

CULLEY, MARK A 

CULLEY, JENNIFER 

3657 DOROTHY LN 

WATERFORD MI 48329-1108 

PARCEL IDENTIFICATION # 

W -13-06-476-009 

BOARD OF REVIEW PETITION #: 

089 

---NOTICE OF BOARD OF REVIEW ACTION--- 

The Board of Review has examined your 2024 Assessed Value and/or Capped Value and 

has made the following decision: 

2024 

Assessed Value From: 

$479,950 

2024 

Assessed Value To: 

$479,950 

2024 

Taxable Value From: 

$479,950 

2024 

Taxable Value To: 

$479,950 

Board of Review reason (code) 

Board of Review Comment 

Comparable sales are within assessed value 

The 2024 Capped Value formula is the 2023 Taxable Value, minus Losses, increased by the 

inflation Rate Multiplier of 1.05%, plus Additions. Taxable Value is the lower of Assessed Value or 

Capped Value unless there was a transfer of ownership in 2023. Your Taxes are levied on the

APPRAISAL OF REAL PROPERTY 

LOCATED AT 

3657 Dorothy Ln 

Waterford, MI 48329 

T3N, ROE, SEC 6 MOUNTAIN VIEW PARK LOT 20 

FOR 

MORTGAGE 1, INC. 

43456 MOUND RD 

STERLING HEIGHTS, MI 48314 

AS OF 

08/15/2023

Borrower 

MARK A & JENNIFER CULLEY 

File Ho. 

 48507845-48507846 

Property Adress 

3657 Dorothy Ln 

) 

. 

oy 

Waterford 

County 

Oakland 

Sele 

py 

IoGole 

48329 

Lender/Client 

MORTGAGE 1, INC. 

TABLE OF CONTENTS 

cover page {Irg,gray,no value) 

., 

Features 

URAR 

URAR 

Additional Comparables 4-6 

URAR 

URAR 

URAR 

URAR ... 

General Text Addsndu 

USPAP Gompllance Addendum 

1004MG (3/09) ...... 

AD Definitions Addendum 

- Page 1 

UAD Definitions Addendum 

- Page 2 

UAD Definitions Addendum 

- Page 3 

Subject Photos ... 

Photograph Addendum 

Photograph Addendum 

Photograph Addendum 

Photograph Addendum 

Interior Photos .... 

Building Sketch {Page - 1 

Building Sketch {Page - 2, 

Aerial Map ..... 

Comparable Photos 1- 

Comparable Photos 4- 

Location Map... 

LICENSE 

... 

INSURANG!

SUBJECT INFORRIATION 

SALES PRICE. 

ER 

APPRAIS! 

SUMMARY OF SALIENT FEATURES 

Subject Address 

Lega! Description 

3657 Dorothy Ln 

T3N, ROE, SEG 6 MOUNTAIN VIEW PARK LOT 20 

City 

Waterford 

Gounty 

Oakland 

State 

Mi 

Tip Code 

48329 

Census Tract 

1442.00 

Map Reterence 

47664 

Sale Price 

$ 910,000 

Date of Sale 

08/07/2023 

Borrower 

MARK 

A & JENNIFER CULLEY 

Lender/Client 

MORTGAGE 1, INC. 

Size (Square Feet) 

2,762 

Piloe per Square Foot 

$ 320.47 

Location 

B;Res;WirFr 

Age 

34 

Condition 

C3 

Total Rooms 

7 

Bedrooms 

3 

Baths, 

21 

Appraiser 

Matthew Bridges 

Date of Appralsed Value 

08/15/2023

ia Appar, Lu. 

23287106 

Uniform Residential Appraisal Report 

Flo# 48507845.48507646 

The 

pupose 

of 

thls 

summary 

appraisal 

report 

Is 

to 

provide 

the 

lendeyiclient 

with 

an 

accurate, 

and 

adequately 

supporled, 

opinion 

of 

the 

make! 

vale 

of 

Ihe 

sublest 

property. 

Property Addtess 

3657 Dorothy Ln 

ty 

Waterford 

Sle 

pgp 

plete 

48320 

Boove 

MARK A & JENNIFER CULLEY 

Ove of Publis Record 

PETER SOLOMAN 

Coury _ Oakland 

Legal Desciplon—— 

T3N, ROE, SEC 6 MOUNTAIN VIEW PARK LOT 20 

Assessor's Parcel # 

13-06-476-009 

TaYeal 

2022 

RETaesS 

8 516 

Neighborhood Name 

Mountain View Park 

Wap Relorence 

47664 

Census Tact 

1442.00 

Occupant 

DG Owner 

[] Tenant 

|] Vacant 

Special Assessments $ 

0 

[JP 

HAS 

45 

DG peryear 

[| permonth 

Property Rights Appralsed 

x 

Fee Simple 

jl Leasehold 

[i] Other (describe) 

Assignment Type 

X Purchase Ti 

ml 

T 

] Other 

LendeClet 

MORTGAGE 1, INC. 

Addiess 

43456 MOUND RD, STERLING HEIGHTS, Mi 48314 

5 the sublect property currently offered for sale or has it been offered for sale In the buelve months prior fo the effective dale of this appraisal? 

Xi Yes 

[ il 

ite 

Report dle scurofs) used, of 

price(s), and lef). 

DOM 20;RLCMP#20230054183; LISTED ON 07/09/2023 FOR $1,199,000 AND THEN 

LOWERED TO $999,900. THE CURRENT STATUS OF THIS LISTING IS PENDING SALE. 

I pxd 

did 

{J did not analyze the contract for sale for the subject purchase transaction. Explaln Lhe fests of the analysis of the conlract for sale or why the analysis was nat 

vefomed. 

Arms length sate; THIS APPEARS TO BE A STANDARD SALES CONTRACT. THERE DOES NOT APPEAR TO BE ANY RELATION 

BETWEEN THE BUYER AND THE SELLER. 

ComaclPiceS 

910.000 

DAeofConiadt 

 0a/07/2023 

Is We property seler the owner of gubllc ecorg? 

Ves 

[IN 

Ddasomceld) 

ASSESSING 

Is there any Bnancla! 

(loan charges, sale 

glftor 

t 

eto.} to be pald by any party on behalf of the borrower? 

[ves 

to 

1 Yes, report the totaf dolar amount and describe the Rems a be paid. 

$0; 

CONTRACT 

Note: Race and the raclal composition of the neighbothood ate not appreisal factors. 

E 

Neighborhood Charaotariatica: 

: 

a 

CngsUnit Holislng Trend: 

ob 

One-Unt Hous 

. 

PresentlandUas%, 

Location 

[| Urban 

bd Suburban 

[Hl] Rural 

Property Values 

[I Increasing 

X Stable 

[l] Declining 

PRICE 

AGE 

One-Usit 

gp % 

Buit-Up 

XX Over 75% 

{ 

| 25-75% 

[lH] Under 25% 

Demand/Supply 

Shortage 

Xx 

In Balance 

[ll] Over Supply 

$ {000} 

9) 

2-4 Unit 

5% 

8 Grown 

[| Rapid 

I state 

[] Sow 

Making Time 

5€ Under3mibs 

[| Bms 

 [] Gver6 ais 

176 

lov 

o 

|Wlifanty 

% 

f eignbartood Boundaries 

THE SUBJECT IS LOOSELY BOUNDED BY ANDERSONVILLE RD TO THE NORTH, 

| 1,200 

Hh 

40g | Commeid 

5% 

5} AIRPORT RD TO THE EAST, MACEDAY LAKE RD TO THE WEST, AND HATCHERY TO THE SOUTH. 

500 

Ped 

gp 

[O0er 

# 

& Helghbostond Desaation 

See attached addenda. 

Warket Condions (siuting support for he above conclusions) 

SEE ATTACHED ADDENDUM 

Dimensions 

78 x 176.5 

Ae 

13765 sf 

Shape 

RECTANGULAR 

VY 

pres IT 

Specific Zoning Classification 

R-1A 

Zoning Descriptor 

SINGLE FAMILY RESIDENTIAL 

Zoning Compliance 

x Legal 

7] Legal Noncantorming {Grandfathered Use} 

[I No Zoning 

1] Hagal {doscribe) 

15 Whe Nignest and best Use Of sUbject property as Improved (ar as proposed per plans and specications) the present use? 

[DC Yes 

[Jo 

[lio vescie 

SINGLE 

FAMILY RESIDENTIAL 

Utilities. 

Public 

Other (describe) 

Publis 

Other (describe) 

Gif-site Improvements - Type 

Publi 

Private 

Electichy 

PE 

[ll] 

Vialer 

XX 

[ln] 

Suet 

paveD 

pd 

0 

Gas 

x 

[] 

SwlaySewr 

4 

[] 

A 

NONE 

[] 

[Hl] 

FEA Special Flood Hazard Area 

[Yes 

DQ Mo 

FEAFoodlow 

x 

FMAM # 

 06125C0333F 

FMAMa Dae 

00/29/2006 

Ave the utities and off-sfle improvements typical for the market area? 

pd Yes 

[Hl] He 

If No, describe 

Ave there any adverse site conditions or extemel faclors (easements, encroachments, environmental condtions, tand uses, ele)? 

[il] Yes 

xX No 

If Yes, describe 

THE IMPROVEMENTS APPEAR TO CONFORM TO ALL CURRENT LOGAL ZONING REGULATIONS. IN THE EVENT OF A MAJOR LOSS BY FIRE, {T COULD BE REBUILT 

WITHOUT A ZONING VARIANCE, SITE DIMENSIONS WERE OBTAINED FROM ONLINE PUBLIC RECORDS. 

‘General Desorption 

da 

Foundation 

: 

si: 

Extarior Dusorlption 

ie 

“materalsjcondition | Interior. 

materials oondition 

Unis 

[5 One 

[| One wilh Accessory Urit 

Concrete Siab 

1] Craw Space 

Foundation Walls 

CONCRETEIAVG 

Fioars 

WD/CRMC/AVG 

# of Stores 

2 

I) Full Basement 

[7] Patil Basement 

Exterior Walls 

BRK/WD/AVG 

[Walls 

DRY/AVG 

Tyre 

DE Del 

| 

| AL 

[| SDel/EndUmt 

[Basement 

Area 

1.067 Sh. {Roof Surface 

ASPHALTIAVG 

TryFinsh 

PAINTEDIAVG 

DC Busing 

[| Proposed 

|| Under Const. _[Bassment ish 

85% |OlemsEDownSIONs 

al UMiAVG 

Bah Floor 

CRMC/AVG 

Design (Ste) 

COLON 

5) Outside Enry/Bl 

{J Sump Pump 

[Window Type 

WDIAVG 

Beth Wanscol 

~~ CRMC/AVG 

Year Bull 

1989 

Evidencoof 

|] Inlesalon 

stom Sasiylnsviated 

YESIAVG. 

Car Storage 

[ Hos 

Effective Age (Yrs) 

10 

[7] Dampress 

[| Setlement 

Screens 

YESIAVG 

5) Divewey 

# of Cars 

2 

[53 

TJ Nore 

Tealy 

DG] wh 

|] *oWB8 

J 

| Redan 

[Amenes 

T | Woodsiowels) # 

| 

Orveway Surfice 

CNC 

[7] brop Star 

{sts 

[] other 

[Fuel 

cas 

0) Freplave(s) # 

1 

_[] fee 

NONE 

DQ Gage 

#0l Cars 

3 

[] Floor 

Seutt 

Cooling 

[54] Central Ar Condioning 

Dg Paloideck 

pio 

DY Pont 

pyc 

[] Gaport 

# of Cars 

0 

” [_] Finished 

Heated 

{| Inoividuat 

JT omer 

[] Pol 

NONE 

[]0her 

none 

JX An 

[RE 

[} Buitie 

4 

Appliances 

p= Refrigerator 

MX Range/Oven 

[ad Dishwasher 

X Disposal 

px Miciowave 

[I] Washei/Dryer 

[] Other (describe) 

b=] Fisted wea sbove grace contains: 

7 

Rooms, 

3 

Betooms 

2.4 

Bans) 

2762 

Sule Feel of Gross Living Area Above Grade

Uniform Residential Appraisal Report 

23287106 

Hlo# 

 48507845-48507846 

Thete are 

5 

comparable 

properties 

cuttenly 

offered 

for 

sds 

the 

neighborhood 

subject 

ranging 

in 

pice 

fom 

3 

399 000 

Bs 

1.050,000 

There are 

10 

comparable 

sdes in 

he 

subject 

neghbodood 

within 

lhe 

past 

tebe 

mons 

rngng 

in 

sdk 

pice 

Kom 

S$ 

240.000 

05 

1.126.000 

FEATURE 

1 

SUBJECT 

COMPARABLE SALE # 1 

COMPARABLE SALE #2 

COMPARABLE SALE # 3 

Addess 

3857 Dorothy Ln 

3585 Dorothy Ln 

7524 Maceday Lake Rd 

4109 Windiate Park Dr 

Waterford, 

MI 48329 

Waterford, Mt 48329 

Waterford, 

MI 48328 

Waterford, 

MI 48329 

Proximity to Subject 

 |009 MILES SE 

0.31 MILES SW 

0.50 MILES NE 

Sal Price 

s 

gtogool 

[8 

750,000 

0 

930,0001 

= 

1,125,000 

Sale Price/Gross 

Liv. Area. 

$ 

329.47 

Saf|$ 

272.73 

sf. 

$ 

407.54 Sj 

$ 

338.04 

sth 

: 

a 

2 

Data Source(s) 

~~ 

IRC#20230048524;00M 5 

RC#20230002559;D0M 8 

RC#20221038780;00M 55 

Veriloaion Sauces) 

ASSESSOR/ EXT. INSPECTION {ASSESSOR EXT. INSPECTION |ASSESSOR/ EXT. INSPECTION 

VALUE ADJUSTMENTS 

DESCRIPTICH 

DESCRIPTION 

+) $ Adjustment 

DESCRIPTION 

+) $ Adjustment 

DESCRIPTION 

+(} $ Adjusiment 

Sales or Financing 

{ArmLth 

ArmLth 

Armtth 

Congessions 

~{Conv;0 

Conv; 2000 

0|Conv;0 

Nn 

Dats of Sae/Time 

: 

: 

$07/23,c06/23 

0}502/23,c01/23 

0|s11/22:c10/22 

0 

Location 

BiRes;WirFr 

B;Res;WirFr 

B;Res;WirFr 

B;Res; WirFr 

Leassholdfos Simple 

FEE SIMPLE 

{FEE SIMPLE 

FEE SIMPLE 

FEE SIMPLE 

Ste 

13765 sf 

14375 sf 

0]10454 sf 

013721 sf 

0 

View 

B;Res;Witr 

B;Res;Wir 

B;Res:Wir 

B;Res;Wir 

Design {Syk) 

DT2,COLON 

__|{DT2,COLON 

DT2,COLON 

DT2;COLON 

Quality of Construction 

Q3 

Q3 

Q3 

Q3 

Actua Age 

34 

56 

0/34 

17 

0 

Condtion 

C3 

c4 

+75,000/C3 

C3 

Above Grade 

Tod 

| Bams. | Baths | Toi 

| Bums. | Bas 

Tol | 8dms. 

| Baths 

Tot 

| Birms. 

| Baths 

11.200 

Room Count 

71 

321] 

83 

{21 

o 

6} 

3 

[21 

of 

9 

4 

[31 

0 

Grass Living Area 

2,762 

sb 

2,750 

st 

0l 

2,282 

=f 

+40,800) 

3,328 

sit 

-48,100 

Basement & Finished 

19675f1672sfwo | 352sf0sfin 

+61,000}1670sf1524sfwo 

+6,200]1970sf1200sfwo 

+6,600 

Rooms Below Grade 

4rr1br1.0bado 

+11,200{1rr1br1.Obato 

9| trrobr1.0bato 

0 

Functional Uility 

AVERAGE 

AVERAGE 

AVERAGE 

AVERAGE 

HeaingiCactng 

FWA/CAC 

FWA/CAC 

FWAICAC 

FWA/CAC 

bog 

Energy Efficient lisms 

NONE 

NONE 

NONE 

NONE 

Bf cansiiupor 

3ga2dw 

20d2dw 

+13,200{2ga2dw 

} 

+13,200;2qa2qd2dw 

-26,400 

fg PortvPatoeck 

PRIPT/DK/BAL 

[PORCH/PATIO 

+12,000{POR/PAT-2 

+6,000|PORCH/PATIO 

+12,000 

g Water Frontags 

80FT 

8BFT 

0|77FT 

Ol80FT 

. 

H 

if 

vet sine 

oi) 

M+ 

L]-s 

172400, 

DI+ 

[1-8 

66,2000 

[J+ 

IX 

- 

IS 

67,100 

[£3 Adjusted Sale Price 

= 

tag 

230% 

Het Ad), 

71% 

Het Ad). 

60% 

ER 

of comparates 

Jowssad, 

230% 

[8 

922,400] 8105s Adj 

71% 

8 

996, 2006053 Ad). 

93% 

8 

1,067,900 

[ 

dd 

| 

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

| 

RESEARCH INCLUDED THE RELEVANT MLS AND. 

ONLINE PUBLIC RECORDS. THERE MAY BE UNRECORDED TRANSACTIONS NOT INCLUDED IN THIS ANALYSIS. 

iy research 

Data Sourcels) 

[7] ad 

pd did not reveal any prior sales or transfers of the subject property for the three years prior Lo the eifective date of bis appralsal. 

LOGAL MLS, ONLINE MUNICIPAL RECORDS 

Hy research 

[7] 

did 

[3 did not reveal any prior sales or transfeis of the comparable sales for the year prior to the date of sats of the comparable sale, 

Data Source(s) 

LOCAL MLS, ONLINE MUNICIPAL RECORDS 

Repor 

the esufs of the research and analysts of th prio sal or ansfer history of the sublet property and comparable Seles report addifonal prior sales on page 3). 

TE 

SUBJECT 

COMPARABLE SALE #1 

COMPARABLE SALE #2 

COMPARABLE SALE #3 

Date of Prior SaefTranster 

Price of Pior Sae/Transler 

Data Source(s) 

MUNICIPAL RECORDS 

MUNICIPAL RECORDS 

MUNICIPAL RECORDS 

MUNICIPAL RECORDS __ | 

Effective Dale of Data Source(s) 

08/17/2023 

08/15/2023 

08/16/2023 

08/15/2023 

Anlyss of prior sale or Gansier story of te subject proparty 2nd comparable sales 

THE ABOVE PRIOR SALES OR TRANSFERS OF THE SUBJECT PROPERTY ANDIOR 

COMPARABLES DO NOT HAVE AN IMPACT ON THE SUBJECT'S APPRAISED VALUE OR MARKETABILITY. 

Summary of Sales Comparison Approach 

SEE ATTACHED ADDENDUM

23287106 

Uniform Residential Appraisal Report 

Fie# 48507845-48507646 

FEATURE 

1 

SUBJECT 

COMPARABLE SALE # 

4 

COMPARABLE SALE # 

5 

COMPARABLE SALE# 

 § 

Aditss 

3657 Dorothy Ln 

6771 Williams Lake Rd 

3855 Lotus Dr 

Waterford, MI 48329 

Waterford, MI 48329 

Waterford, MI 48329 

| 

Proximity to Subject 

: 

0.65 MILES SE 

0.59 MILES NE 

Sale rice 

$ 

9100000 

$ 

g25000, 

{8 

899,900 

= 

B 

Sale Price/Gross 

LV. Area 

5 

2329.47 StS 

300.34 

seh 

Ts 

ap3q2 

wif 

: 

E 

J 

sal. 

Data Soute(s) 

RC#20221015424;,00M 201 

RC#20230062148,D0M 18 

Verfation Source(s) 

| 

© 

|ASSESSOR/ EXT. INSPECTION |ASSESSOR/ EXT. INSPECTION 

VALUE ADJUSTMENTS 

DESCRIPTION 

DESCRIPTION 

+{) $ Adjustment 

GESCRIPTION 

+{} § Adjustment 

DESCRIPTION 

+{) $ Adjustment 

Sales or Financing 

Amt 

Listing 

-26,997] 

Concessions 

i 

a 

Conv:0 

Date of Salim 

a 

$03/23,601/23 

0lActive 

0) 

Location 

B;Res;WtrFr 

__|B;Res:WirFr 

B;Res;Wirfr 

EE 

FEE SIMPLE 

{FEE SIMPLE 

FEE SIMPLE 

Jif see 

13766 sf 

10019 sf 

0{11326 sf 

0) 

fg view 

B;Res; Wr 

B8;Res; Wr 

B;Res; Wr 

fg vesin ve) 

DT2;COLON _ |DT2;COLON 

DT2;COLON 

3 

Quality of Construction 

Q3 

Q3 

Qs 

fq 

Actual Age 

34 

34 

16 

0) 

J condion 

c3 

C3 

C3 

° 

Above Grade 

Tots 

| Bdms. 

| Bais | 

Tota 

| Bdms, | Baths 

11,200] 

Told 

| Bdims. 

| Baths 

-16,800{ 

Tota 

| ams. 

| 

Baths 

ff room count 

71 

s]21| 

6] 

2 

[31 

+15,000 

7 

| 

a 

[40 

of 

bill Gross Living Area 

2762 

Sid. 

2.667 

if 

0 

2785 

Sit 

0 

sqR. 

Basement & Finished 

19675f1672sfwo | 1839sf1600sfwo 

0|1544sf1287sfin 

+11,300 

Rooms Belov Grads 

1iribr1.0bado 

{4rr2br].Obate 

0}rr1brt.0ba2o 

0 

Functional tity 

AVERAGE 

AVERAGE 

AVERAGE 

HeatingCoaling 

FWA/CAC 

FWA/CAC 

FWA/CAC 

Energy Efficient ftems. 

NONE 

NONE 

NONE. 

Garage/Camport 

3ga2dw 

20a2dw 

+13,200{2ga2dw. 

+13,200] 

PorcivPalo/Deck 

PR/PT/DK/BAL 

|PR/PT/DK-2 

0, PORCH/DECK 

+12,000, 

| Water Frontage 

SOFT 

S1FT 

+29,00050FT 

+30,000 

Het Adjustment (Tole) 

M+ 

[8 

460000 

M+ 

{3- 

[8 

22708] 

[1+ 

[1-8 

Adjusted Sale Price 

= 

{Neth 

56% 

Met Ad]. 

25% 

Net Ad] 

% 

of Comparables 

oo 

Gross Af} 

83% 

|S 

871.000[C0ssAg. 

{23% 

8 

922 803|010ss Ad 

%1$ 

‘Report the results of the research and analysls of the prior sale of transfer fistory of the subject property and comparable sales {report addillonal prior sales on page 3} 

ITEM 

SUBJECT 

COMPARABLE SALE # 

4 

COMPARABLE SALE # 

5 

COMPARABLESALE # 

 § 

Date of Prior Sale/Transfer 

| 

Pics of Por Say Ttansier 

4 

Oct Soret 

MUNICIPAL RECORDS 

[MUNICIPAL RECORDS 

[MUNICIPAL RECORDS 

Jo Eifctive Date of Data Source(s) 

08/17/2023 

08/15/2023 

08/15/2023 

H 

Analysts of prior sale or transfer history of Lhe subject property and comparable sales. 

Fl 2 Ed 

Analysis/Commenls 

OMMENTS

N 

. 

N 

. 

23287106 

Uniform Residential Appraisal Report 

Fio¥ 

 48507845-48507846 

THIS APPRAISAL IS AN ESTIMATE OF VALUE BASED ON AN ANALYSIS OF INFORMATION KNOWN TO THE APPRAISER AT THE TIME OF THE APPRAISAL. THE APPRAISER 

ASSUMES NO RESPONSIBILITY FOR ECONOMIC FACTORS OCCURING AT SOME LATER DATE DUE TO THE CHANGING LOCAL, STATE OR NATIONAL ECONOMIC 

CONDITIONS OF THE MONEY MARKET OR CHANGES OF CAPITAL WHICH MAY AFFECT THE OPINIONS OR CONCLUSIONS HEREIN. 

THIS APPRAISAL HAS BEEN PERFORMED WITH DATA THAT 1S COMMONLY AVAILALBE TO APPRAISERS (PUBLIC RECORDS). DATA LIMITATIONS RESULT WHEN 

INFORMATION PROVIDED BY OTHERS FROM NON-PUBLIC SOURCES (REALTORS, ATTORNEYS, ACCOUNTANTS, ETC.) ARE UTILIZED AND BELIVIED TO BE TRUE AND 

CORRECT. 

THE PHOTOGRAPHS FOR THIS REPORT WERE TAKEN BY A DIGITAL CAMERA IN ORDER TO COMPLY WiTH THE REQUIREMENTS OF MANY LENDER/CLIENTS WHO 

_ 

REQUIRE ELECTRONIC TRANSMISSIONOF THE ENTIRE FILE. THIS REPORT MAY CONTAIN COMPARABLE PHOTOS FROM OUR EXTENSIVE DATABAE AND/OR FROM THE 

LOCAL MLS FILES, THESE PHOTOS ARE TAKEN ON/OR ABOUT THE TIME OF LISTING/SALE. THIS 16 THE BEST INDICATOR OF THE CONDITION OF THE COMPARABLE 

PROPERTY AT THE TIME OF SALE. MANY HOMES ARE MODIFIED SHORTLY AFTER POSSESSION, SO PHOTOS TAKEN AT A LATER DATE ARE NOT ALWAYS A RELIABLE 

INDICATOR OF THE PROPERTY'S CONDITION AT THE TIME OF SALE. 

PLEASE NOTE THAT ELECTRONIC SIGNATURES ARE BEING USED IN THIS REPORT. USPAP AND THE APPRAISAL STANDARDS BOARD STATE THAT ELECTRONICALLY A 

FFIXING A SIGNATURE TO A REPORT CARRIES THE SAME LEVEL OF AUTHENTICITY AND RESPONSIBILTY AS AN INK SIGNATURE ON A PAPER COPY REPORT ( THE 

TERM WRITTEN RECORDS INCLUDES INFORMATION STORED ON ELECTRONIC, MAGNETIC OR OTHER MEDIA"). ALL ELECTRONIC SIGNATURES iN THIS REPORT HAVE 

A SECURITY FEATURE MAINTAINED BY INDIVIDUAL EXCEPTION OF THE APPRAISER. 

THE VALUE OF THE SUBJECT I$ BASED ON THE ASSUMPTION THAT SUBSIDENCE IS NOT PRESENT ON THE SUBJECT SITE, SINCE NONE WAS APPARENT UPON 

INSPECTION, IF SUBSIDENCE DOES EXIST, THE ESTIMATED MARKET VALUE (S SUBJECT TQ REVISION. SUBSIDENCE IS DEFINED AS: "THE SINKING OF THE UPPER 

PART OF THE GROUND DUE TO A NUMBER OF CAUSES, 

E.G., THE LOWERING OF THE WATER TABLE DURING A LONG PERIOD OF DROUGHT, THE REMOVAL OF A 

MINERAL SUCH AS COAL; WHEN SEVERE, CAN CAUSE STRUCTURAL DAMAGE TO THE BUILDING." * ALSO INCLUDED IN THE CAUSES ARE SALT MINES, SINK HOLES, 

PEAT BOGS, FISSURES, FAULT LINES, BUT NOT LIMITED TO THESE ITEMS. THE APPRAISER IS NOT AN EXPERT (N THIS FIELD, THE LENDER IS URGED TO RETAIN AN 

EXPERT IN THIS FIELD IF DESIRED. *"DICTIONARY OF REAL ESTATE APPRAISAL. AMERICAN INSTITUTE OF REAL ESTATE APPRAISERS, C. 1984, P226, 

ADDITIONAL COMMENTS 

Te 

— 

— 

COST APPROACH TO VALUE (not aquired by Fania Mae) 

ravde adequle Information for tie lendefcen to replicate the tolo cast Rguces and caluatons. 

Suppor forthe opinion of site vis {summary of Corparable land sales oF or methods fo estimating of vabe) 

THE SALES COMPARISON APPROACH TO 

SITE VALUATION HAS BEEN UTILIZED IN DETERMINING THE SITE VALUE FOR THIS REPORT. THE SUBJECTS SITE EXCEEDS 30% OF 

THE OPINION ON VALUE FOR THE SUBJECT. THIS IS A TYPICAL ASPECT OF THE SUBJECTS MARKET. (MLS#20221021622, SOLD 

09/22, FOR $1,982,353/ AC) 

JY ESTNATED 

[7] REPRODUCTION OR 

XI REPLAGEMENT COST NEW 

OPINONOFSFEVALE 

=5 

634,240 

Je source of ost deta 

Building-Cost.net 

DWELLING 

2762 SiR.@S 

_=5 

355,884 

Fed cua retog ram vost sevice 

Good 

Fltectve date of cost dala 

08/23 

Basement 

1,067 Sit@$ 

=§ 

74,748 

& Comments on Gost Approach {gross fing area calculations, depreciation, ele.) 

POR/PAT/DCK/BAL 

=5 

30.863 

[4 THE TOTAL ECONOMIC LIFE IS 80 YEARS, THE ESTIMATED 

Sarage/Carpor 

660 Sift. @S 

= 

28,472 

ECONOMIC AGE FOR THE SUBJECT IS 15 YEARS. THE COST. 

To EstmaofCosthew 

= 

489,965 

APPROACH HAS BEEN COMPLETED AT THE REQUEST OF THE 

[#55 

Physical 

Functional 

Bema 

CLIENT ONLY. NO WEIGHT HAS BEEN CONTRIBUTED FOR THE 

___|Dwreckton 

61,246 

=8 

61,246) 

COMPLETION OF THIS APPROACH, THE VALUE DETERMINDED BY 

|OsprechledCostofimprovemenls 

~~... 

= = 

428,719 

THIS APPROACH SHOULD NOT BE RELIED UPON FOR LENDING 

Asis VausofStelmprowerents 

=$ 

0 

OR INSURANCE PURPOSES. 

Eslimated Remaining Economic Life (HUD and VA only} 

70 

Years 

| WORATEDVALUEBYCOSTAPPROACH 

_ ___________ 

1,062,959 

cae 

INCOME APPROAGHTO VALUE (ot requlred by Fannie Mas) 

: 

a 

: 

Estimated Monthly Market Rent § 

X Gross Rent Multiplier 

=$ 

indicated Value by income Approach 

Summary of income Approach {including support for markel rent and GRAS) 

= 

PROJECTINFORMATION 

FOR PUD 

i applicable)

. 

N 

. 

N 

8 

Uniform Residential Appraisal Report 

(507846 

This 

report 

form 

is 

designed 

to 

report 

an 

appraisal 

of 

a 

one-unit 

property 

of 

a 

ong-unit 

property 

with 

an 

accessory 

unit; 

including 

a 

unit 

In 

a 

planned 

unit 

development 

(PUD). 

This 

report 

form 

Is 

not 

designed 

fo 

report 

an 

appraisal 

of 

a 

manufactured 

home 

of 

a 

unit 

in 

a 

condominium 

of 

cooperative 

project. 

This 

appraisal 

report 

Is 

subject 

to 

the 

following 

scope 

of 

work, 

Intended 

use, 

intended 

user, 

definition 

of 

market 

valus, 

statement 

of 

assumptions 

and 

limiting 

conditions, 

and 

certifications. 

Modifications, 

additions, 

or 

deletions 

fo 

the 

intended 

use, 

intended 

user, 

definition 

of 

market 

value, 

or 

assumptions 

and 

limiting 

conditions 

are 

not 

permited. 

The 

appraiser 

may 

expand 

the 

scope 

of 

work 

to 

Include 

any 

additional 

research 

or 

analysis 

necessary 

based 

on 

the 

complexity 

of 

this 

appraisal 

assignment. 

Modifications 

or 

deletions 

to 

the 

certifications 

are 

also 

not 

permitted. 

However, 

additional 

certifications 

that 

do 

not 

constitute 

material 

alterations 

to 

this 

appraisal 

report, 

such 

as 

those 

required 

by 

law 

or 

those 

related 

to 

the 

appraiser's 

continuing 

education 

or 

membership 

In 

an 

appraisal 

organization, 

are 

 permitied. 

SCOPE OF WORK: 

The 

scope 

of 

work 

for 

this 

appraisal 

is 

defined 

by 

the 

compledty 

of 

this 

appraisal 

assignment 

and 

the 

reporting 

requirements 

of 

this 

appraisal 

report 

form, 

including 

the 

following 

definition 

of 

market 

valug, 

statement 

of 

assumptions 

and 

limiting 

conditions, 

and 

cerlifications. 

The 

appraiser 

must, 

at 

a 

minimum: 

{1) 

perform 

a 

complete 

visual 

inspection 

of 

the 

interior 

and 

exterior 

areas 

of 

the 

subject 

propery, 

(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 

repo 

is 

for 

the 

lendar/client 

to 

evaluale 

the 

property 

that 

is 

the 

subject 

of 

this 

appraisat 

for 

a 

mortgage 

finance 

transaction. 

INTENDED USER: 

The 

Intended 

user 

of 

this 

appraisal 

report 

is 

the 

lender/client. 

DEFINITION OF MARKET VALUE: 

The 

most 

probable 

price 

which 

a 

property 

should 

bring 

in 

a 

competitive 

and 

open 

market 

under 

all 

condiions 

requisite 

fo 

a 

far 

sale, 

the 

buyer 

and 

seller, 

each 

acling 

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 

dale 

and 

the 

passing 

of 

lle 

from 

seller 

to 

buyer 

under 

conditions 

whereby: 

(1) 

buyer 

and 

seller 

are 

typically 

~molivated; 

(2) 

both 

patties 

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 

therato; 

and 

(5) 

the 

price 

represents 

the 

normal 

consideration 

for 

the 

propery 

sold 

unaffected 

by 

special 

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 

paid 

by 

sellers 

as 

a 

result 

of 

tradiion 

or 

law 

In 

a 

market 

area; 

these 

costs 

are 

readily 

identifiable 

since 

the 

seller 

pays 

these 

costs 

in 

vifually 

all 

sales 

transactions. 

Special 

or 

creative 

financing 

adjustments 

can 

ba 

made 

to 

the 

comparable 

property 

by 

comparisons 

to 

financing 

terms 

offered 

by 

a 

third 

party 

institutional 

fender 

that 

Js 

not 

already 

involved 

in 

the 

property 

or 

transaction. 

Any 

adjustment 

should 

not 

be 

calculated 

on 

a 

mechanical 

dollar 

for 

dollar 

cost 

of 

the 

financing 

or 

concession 

but 

the 

dollar 

amount 

of 

any 

adjustment 

should 

approximate 

the 

market's 

reaction 

to 

the 

financing 

or 

concessions 

based 

on 

the 

appraiser's 

judgment, 

STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: 

The 

appraiser's 

cerfification 

in 

this 

report 

is 

subject 

to 

the 

following 

assumptions 

and 

limiting 

conditions: 

1. 

The 

appraiser 

will 

not 

be 

responsible 

for 

matters 

of 

a 

legal 

nature 

that 

affect 

either 

the 

property 

being 

appraised 

or 

the 

fitle 

to 

I, 

except 

for 

information 

that 

he 

or 

she 

became 

aware 

of 

during 

the 

research 

involved 

in 

performing 

this 

appraisal. 

The 

appraiser 

assumes 

that 

the 

tile 

is 

good 

and 

marketable 

and 

wil 

not 

render 

any 

opinions 

about 

the 

title. 

2. 

The 

appraiser 

has 

provided 

a 

sketch 

in 

this 

appraisal 

report 

to 

show 

the 

approximate 

dimensions 

of 

the 

Improvements. 

The 

sketch 

Is 

Included 

only 

to 

assist 

the 

reader 

in 

visualizing 

the 

property 

and 

understanding 

the 

appraiser's 

determination 

of 

its 

size. 

3. 

The 

appraiser 

has 

examined 

the 

avaliable 

flood 

maps 

that 

are 

provided 

by 

the 

Federal 

Emergency 

Management 

Agency 

{or 

other 

dala 

sources) 

and 

has 

noted 

in 

this 

appraisal 

report 

whether 

any 

portion 

of 

ihe 

subject 

site 

is 

located 

in 

an 

identified 

 Speclal 

Flood 

Hazard 

Area. 

Because 

the 

appraiser 

is 

not 

a 

surveyor, 

he 

or 

she 

makes 

no 

guarantess, 

express 

OF 

implied, 

regarding 

this 

determination. 

4, 

The 

appraiser 

wil 

not 

give 

testimony 

or 

appear 

In 

cout 

because 

he 

or 

she 

made 

an 

appraisal 

of 

the 

property 

in 

question, 

unless 

specific 

amangements 

fo 

do 

so 

have 

been 

made 

beforehand, 

or 

as 

otherwise 

required 

by 

law. 

5. 

The 

appraiser 

has 

noled 

in 

this 

appraisal 

report 

any 

adverse 

condiions 

(such 

as 

needed 

repairs, 

deterioration, 

ihe 

presence 

of 

hazardous 

wastes, 

toxic 

substances, 

eic) 

observed 

during 

the 

inspection 

of 

the 

subject 

property 

or 

that 

he 

or

23287106 

Uniform Residential Appraisal Report 

Ho# 

 48507845.48507846 

APPRAISER'S CERTIFICATION: 

The 

Appraiser 

certifies 

and 

agrees 

that 

1. 

| 

have, 

at 

a 

minimum, 

developed 

and 

reported 

this 

appralsal 

In 

accordance 

with 

the 

scope 

of 

work 

requirements 

stated 

In 

this 

appraisat 

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. | 

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 

piace 

at 

the 

time 

this 

appraisal 

report 

was 

prepared. 

4. 

| 

developed 

my 

opinfon 

of 

the 

market 

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. 

1 

further 

certify 

that 

| 

considered 

the 

cost 

and 

Income 

approaches 

to 

value 

but 

did 

not 

develop 

them, 

unless 

otherwise 

indicated 

in 

this 

report. 

5. 

| 

researched, 

verfied, 

analyzed. 

and 

seported 

on 

any 

cument 

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. 

i 

selected 

and 

used 

comparable 

sales 

that 

are 

locationaly, 

physically, 

and 

functionally 

the 

most 

similar 

lo 

the 

subject 

property. 

8, 

] 

have 

not 

used 

comparable 

sales 

that 

wete 

the 

result 

of 

combining 

a 

land 

sale 

with 

the 

contract 

purchase 

price 

of 

a 

home 

that 

has 

been 

bult 

or 

will 

be 

buit 

on 

the 

land. 

9, 

| 

have 

reported 

adjustments 

to 

the 

comparable 

sales 

that 

reflect 

the 

market's 

reaction 

to 

the 

differences 

between 

the 

subject 

properly 

and 

ihe 

comparable 

sales. 

40. 

© 

verified, 

from 

a 

disinterested 

source, 

af 

Information 

in 

this 

report 

that 

was 

provided 

by 

pales 

who 

have 

a 

financial 

Interest 

in 

the 

sale 

or 

financing 

of 

the 

subject 

propery. 

11. 

1 

have 

knowledge 

and 

experience 

In 

appraising 

this 

type 

of 

property 

in 

this 

market 

area. 

12. 

| 

am 

aware 

of, 

and 

have 

access 

fo, 

the 

necessary 

and 

appropriate 

public 

and 

private 

data 

sources, 

such 

as 

multiple 

listing 

seivices, 

tax 

assessment 

records, 

public 

land 

records 

and 

other 

such 

data 

sources 

for 

the 

area 

in 

which 

the 

property 

Js 

located. 

13. 

| 

obtained 

the 

information, 

estimates, 

and 

opinions 

fumished 

by 

other 

parties 

and 

expressed 

in 

this 

appraisal 

report 

from 

reliable 

sources 

that 

| 

believe 

to 

be 

tue 

and 

corect. 

44, 

| 

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, 

deteroration, 

the 

presence 

of 

hazardous 

wastes, 

‘oxic 

substances, 

adverse 

environmental 

conditions, 

etc) 

observed 

during 

the 

inspection 

of 

the 

subject 

property 

or 

that 

| 

became 

aware 

of 

during 

the 

research 

involved 

in 

performing 

this 

appraisal. 

1 

have 

considered 

these 

adverse 

conditions 

in 

my 

analysis 

of 

the 

property 

value, 

and 

have 

reported 

on 

the 

effect 

of 

the 

condiions 

on 

the 

vaive 

and 

marketability 

of 

the 

subject 

propery. 

15. 

1 

have 

not 

knowingly 

withheld 

any 

significant 

information 

from 

this 

appraisal 

report 

and, 

fo 

the 

best 

of 

my 

knowledge, 

all 

statements 

and 

information 

in 

this 

appraisal 

report 

are 

tue 

and 

correct 

16. 

1 

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. 

) 

have 

no 

present 

or 

prospective 

interest 

in 

the 

properly 

that 

is 

the 

subject 

of 

this 

reporl, 

and 

i 

have 

no 

present 

or 

prospective 

personal 

Interest 

or 

bias 

with 

respect 

1o 

the 

participants 

in 

the 

fransaction. 

| 

did 

not 

base, 

either 

partially 

or 

completely, 

my 

analysis 

and/or 

opinion 

of 

market 

valus 

in 

this 

appraisal 

report 

on 

the 

race, 

color, 

religion, 

sex, 

age, 

marital 

status, 

handicap, 

familiat 

status, 

or 

national 

origin 

of 

either 

the 

prospective 

owners 

or 

occupants 

of 

the 

subject 

properly 

or 

of 

the 

present 

owners 

or 

occupants 

of 

the 

properties 

in 

the 

viciaity 

of 

the 

subject 

property 

or 

on 

any 

other 

basis 

prohibited 

by 

law. 

18. 

My 

employment 

and/or 

compensation 

for 

performing 

this 

appraisal 

or 

any 

future 

or 

anticipated 

appraisals 

was 

not

Uniform Residential Appraisal Report 

23287106 

Fle# 

 48507845-48507846 

21, 

The 

lendeyclient 

may 

disclose 

or 

distribute 

this 

appraisai 

report 

to: 

the 

borrower; 

another 

lender 

at 

the 

request 

of 

the 

borrower; 

the 

mortgagee 

or 

its 

successors 

and 

assigns; 

secondary 

~~ market 

participants; 

data 

collection 

or 

reporting 

agency, 

or 

Instrumentality 

of 

the 

United 

States: 

and 

any 

state, 

obtain 

the 

appraiser's 

or 

supervisory 

appraiser's 

(if 

applicable) 

mortgage 

Insurers; 

 govemment 

sponsored 

enterprises; 

other 

services; 

professional 

appraisal 

organizations; 

any 

 dspariment, 

the 

District 

of 

Columbia, 

or 

other 

jurisdictions; 

without 

having 

to 

consent. 

Such 

consent 

must 

be 

obtained 

before 

this 

appraisal 

report 

may 

be 

disclosed 

or 

distibuted 

to 

any 

other 

party 

(including, 

but 

not 

fimited 

to, 

the 

public 

through 

advertising, 

public 

relations, 

news, 

sales, 

or 

other 

media). 

22. 

1 

am 

aware 

that 

any 

disclosure 

or 

distribulion 

of 

this 

appraisal 

report 

by 

me 

or 

the 

lender/client 

may 

be 

subject 

to 

certain 

laws 

and 

regulations. 

Futher, 

| 

am 

also 

subject 

to 

the 

provisions 

of 

the 

Uniform 

Standards 

of 

Professional 

Appraisal 

Practice 

that 

pertain 

to 

disclosure 

or 

distibution 

by 

me. 

23. 

The 

borrower, 

another 

lender 

at 

the 

request 

of 

the 

borrower, 

the 

morigages 

or 

Hs 

successors 

and 

assigns, 

mortgage 

insurers, 

goverment 

sponsored 

enterprises, 

and 

other 

secondary 

market 

participants 

may 

rely 

on 

this 

appraisal 

report 

as 

part 

of 

any 

morgage 

finance 

transaction 

that 

involves 

any 

one 

or 

more 

of 

thess 

parties. 

24. 

If 

this 

appraisal 

report 

was 

transmitted 

as 

an 

“electronic 

defined 

in 

applicable 

federal 

and/or 

state 

laws 

(excluding 

audio 

record” 

containing 

my 

“electronic 

signature, 

as 

those 

terms 

are 

and 

video 

recordings), 

or 

a 

facsimile 

transmission 

of 

this 

appraisal 

report 

containing 

a 

copy 

or 

representation 

of 

my 

signatwe, 

the 

appraisal 

report 

shall 

be 

as 

effective, 

enforceable 

and 

valid 

as 

if 

a 

paper 

version 

of 

this 

appraisal 

repost 

were 

delivered 

containing 

my 

original 

hand 

writen 

signature. 

25. 

Any 

infentional 

or 

negligeni 

misrepresentation(s) 

contained 

in 

this 

appraisal 

report 

may 

resut 

in 

civii 

liability 

and/or 

criminal 

penalies 

including, 

but 

not 

limited 

to, 

fine 

or 

imprisonment 

or 

both 

under 

the 

provisions 

of 

Tile 

18, 

United 

States 

Code, 

Section 

1001, 

et 

seq, 

or 

simiar 

stale 

laws. 

SUPERVISORY APPRAISER'S CERTIFICATION: 

The 

Supervisory 

Appraiser 

certifies 

and 

agrees 

that 

1. 

| 

directly 

supervised 

the 

appraiser 

for 

this 

appraisal 

assignment, 

analysis, 

opinions, 

statements, 

conclusions, 

and 

the 

appraiser's 

2. 

1 

accept 

full 

responsibilty 

for 

the 

contents 

of 

this 

appraisal 

statements, 

conclusions, 

and 

the 

appraiser's 

certification. 

have 

read 

the 

appraisal 

report, 

and 

agree 

wilh 

the 

appraiser's 

certification. 

report 

including, 

but 

not 

limited 

to, 

the 

appraisers 

analysis, 

opinions, 

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 

lo 

perform 

this 

appraisal 

under 

ihe 

applicable 

state 

law. 

4, 

This 

appraisal 

report 

complies 

wih 

the 

Uniform 

Standards 

promulgated 

by 

the 

Appraisat 

Standards 

Board 

of 

The 

Appraisal 

report 

was 

prepared. 

5. 

If 

thls 

appraisal 

report 

was 

transmitted 

as 

an 

“electronic 

defined 

in 

applicable 

federat 

and/or 

state 

laws 

(excluding 

audio 

Professional 

 Appralsal 

Practice 

that 

were 

adopted 

and 

Foundation 

and 

that 

were 

in 

place 

at 

the 

time 

this 

appraisal 

record" 

containing 

my 

electronic 

signature,” 

as 

those 

terms 

are 

and 

video 

recordings), 

or 

a 

facsimile 

transmission 

of 

this 

appraisal 

report 

containing 

a 

copy 

of 

representation 

of 

my 

signature, 

the 

appraisal 

report 

shall 

be 

as 

effective, 

enforceable 

and 

valid 

as 

H 

a 

paper 

version 

of 

this 

appraisal 

report 

were 

delivered 

containing 

my 

original 

hand 

writen 

signature. 

APPRAISER 

SUPERVISORY APPRAISER (ONLY {F REQUIRED) 

Signature 

Signature 

Name 

Matthew Bridges 

Name 

Cormpany Name 

MI-State Appraisals 

Company Name 

Company Address 

449 8. HARVEY ST 

Company Address 

PLYMOUTH, 

MI 48170 

Telephone Number 

(734) 620-4848 

Telephones Number 

£mall Address 

mistateappraisals@gmail.com 

Emall Address 

Date of Signature and Report 

08/17/2023 

Date of Signature 

Effective Date of Appraisal 

08/15/2023 

State Certification # 

State Certification # 

1204072464 

or State License # 

or State License # 

State 

or Other (describe) 

State # 

Expiration Date of Certification or License 

State 

MI 

TT 

Expiration Date of Certification or License 

07/31/2024 

SUBJECT PROPERTY

Supplemental Addendum 

isto. 48507845-48507846 

Borrower 

MARK A & JENNIFER CULLEY 

Popety Addess 

3657 Dorothy Ln 

nN 

oy 

Waterford 

] 

tony 

Oakland 

] 

sie 

pI 

Btls 

48329 

LenderClent 

MORTGAGE 1, INC. 

This addendum is to become a part of the Appraisal Report submitted 10 you regarding the above described property. 

SCOPE OF APPRAISAL 

The intended use of this appraisal is to provide an opinion of the market value of the subject properly, as of ihe date of valuation for the purpose 

of obtaining a mortgage. The property rights appraised are Fee Simple Estate. Fee Simple Estate is Defined as "Absolute Ownership 

unencumbered by any other interest or estate subject only 10 the limitations imposed by governmental powers of taxation, eminent domain, 

potice power, and escheat.” 

The valuation process involves an interior/exterior inspection of the subject by the appraiser. Next, the appraiser gathers, analyzes and confirms 

applicable market data information using in-house files, multiple listing services, real estate brokers, local government records, and other 

sources relevant to this assignment. 

The appraiser then applies the data gathered to the applicable approaches to value, reconciles the results, and provides an opinion of market 

value. 

Further information pertaining to the scope of work appears elsewhere in this report. 

+ URAR: Neighborhood - Description 

SUBJECT IS LOCATED IN A SUBURBAN SETTING WHERE MOST HOMES ARE LOCATED IN SUBDIVISIONS ALONG PAVED ROADS AND BUSINESS OR 

RETAIL IS FOUND IN SCATTERED STRIP CENTERS ALONG MAIN ROADS. EMPLOYMENT CENTERS AND AMENITIES ARE LOCATED WITHIN 5 MIIES OF 

THE SUBJECT PROPERTY, A TYPICAL COMMUTE IS 15-30 MINUTES. 

» URAR : Neighborhood - Market Conditions 

BOTH CONVENTIONAL AND NON-CONVENTIONAL FINANCING ARE COMMON WITH SALES CONCESSIONS TYPICAL. AVERAGE 

SALES TO ASKING PRICES WERE FOUND TO BE 70 - 100% INCLUDING SELLERS CONCESSIONS, 

The subject is a legally permissible use based on its current zoning. Also, the lot size, shape and land-to-building ratio allow the present 

structure and indicale a good utilization of the improvements. Based on current market conditions, the existing structure as a single 

family residence is its financiafly feasible and maximally productive used. The highest and best use, as if vacant, would be to construct a 

single family residence 

+ URAR : Salgs Comparison Analysis - Summary of Sales Comparison Approach 

It must be noted that recently days-on-market for homes in southem lower Michigan have become extremely difficult to 

determine. Real estate agents and brokers frequently withdraw old listings then, in a few days, resubmit, creating a new 

listing with a different number which cannot be easily found by the appraiser. The lisiting/sefling data contained herein may 

not always be accurate, although the appraiser has attempted to portray a true picture of the present, market 

conditions. 

The comparables presented within this report are considered the best availatbe to this appriser at the time for comparison to 

the subject. Comparable sales information is based on MLS, builder sales records, and/or local government records unless 

otherwise noted. 

Sales comparables from closed transactions are deemed 

to be the best availalbe for the market area, and they are: 

located within the subject's neighborhood boundaries 

-very similar in style and age wilh few adjustments 

-sold by knowledgeable banker to a well-informed inveslor 

After analyzing the market area and the list to sale price trends over the previous 12 months it was determined that the 

average decrease in price from the llst price to the final sales price was on average 3% of the list price. 

Research of the market data indicates thal an adjusiment for age is directly refaled to the overall condition of the improvements of the proeprty 

(ie. effective age) which, in this report, is expressed in the UAD approved condition rating. Any applicable adjustment for age difference has 

been considered in this line lem and a tack of adjustment indicates to the reader an equal opinion for the differential. 

The gross living area adjustment is based on $85.00 per square foot where the variance exceeds 100 square feet. 

adjustments for less than 100 square feet are not deemed necessary. 

A zero (-0-) is entered in the grid of the Sales Comparison Approach to indicate to the reader that the particular lem, which 

varies from the subject properly, has been recognized and that no adjusiment is deemed applicable. The differential is 

considered to be of no value, or may be of an offselling value with another item, or no adjustment was applicable due to the 

fact that no accurate adjustment was able to be exiracted through a paired sales analysis of the sales available in the 

subject's immediate marketing area. 

Necessary adjustments for repair items have been considered in the condition line if the Sales Comparison Grid. This 

adjustment reflects not the aclual cost fo cure, but the market impact that the subject's repairs and condition have on the 

value of the subject property, 

All comparable sales have something in common with the subject property and collectively they support estimated market

Supplemental Addendum 

fle. 48507845-48607846 

Borrower 

MARK A & JENNIFER CULLEY 

Propedy Addfess 

3657 Dorothy Ln 

oy 

Waterford 

Coty 

Qakland 

sue 

MI 

nos 

48329 

tender/Client 

MORTGAGE 1, INC. 

The weighting of the comparables in relation to value is as follows: 

#1- Comparable 1 due to the closest proximity to the subject and the most recent time of sale. 

#2- Comparable 2 due to the lowest gross adjustment needed and the 2nd closest proximity to the subject. 

#3- Comparable 4 due to the 2nd lowest gross adjustment needed. 

#4- Comparable 3 has been given the lowest weight. 

+ URAR 

: Reconciliation - Reconciliation and Final Value Conclusion 

The most probable purchaser of the subject property would be a mainstream buyer. The cost approach is based on the theory that a typically 

informed buyer would pay no more for a residential property then the cost to rebuild a replica of that property, with the same utility. The reliability 

of this approach is affected by the amount of depreciation present in the subject property. Also, the typical buyer of an older home does not 

consider building a replica as a viable or, in mos{ cases, a possible alternative. Therefore, if this approach is used in this report, it does nol carry 

as much weight as the sales comparison approach and is not considered a reliable approach. However, the cost approach was not required nor 

considered applicable in this case. 

The income approach involves estimating the gross monthly market rent for the subject property and muiliplying by a gross monthiy rent 

multiplier obtained by dividing the selling price of a property by the monthly rent at the time of sale. The reliability of this approach is dependent 

upon the availability, quality, and comparability of rented/sold properties. Since homes comparable to the subject typically are not rented in this 

market area, this approach to value is deemed inapplicable. 

In the sales comparison approach, the appraiser analyzes competitive properties in the subject's neighborhood or market area and compares 

them to the subject. Adjustment for the differences that exist between the subject and the comparable are made resuiting in 

an indicator of market value. 

Finally, after having analyzed the values obtained from the approaches utilized in this report, a final indication of value is presented in this repori. 

Most weight has been placed upon the sales comparison approach and is deemed the best indicator of value for the subject property. 

The final valuation estimate precludes undisclosed conditions (such as easement, interests, or encroachments) that may be exhibited in the title 

report or survey. 

STATE LAW REQUIREMENT 

Appraisers in the state of Michigan are now regulated by the Department of Energy, Labor, and Economic growth, (DELEG) P.O. Box 30018, 

Lansing, Michigan, 48809. The following licenses are Issued by the department: State Cerlified General; State Certified Residential; State 

Licensed; Limited License. Limited license appraisers may only materially assist in an appraisal assignment under the direct supervision of a 

Certified Appraiser. 

COMPLIANCE TO THE INDUSTRY STANDARD 

This appraisal report conforms to the current edition of the Uniform Standards of Professional Appraisal Practice (USPAP) that became effective 

August 1990 by FNMA and the Office of the Comptroller, and wilh the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 

{FIRREA} and Title Xt. 

‘The appraiser's analysis opinions and conclusions were developed in accordance with and in conformity to USPAP Standard 1, Rea! Property 

Appraisal Development. The results of the appraisal have been reported in an Appraisal Report in Compliance with USPAP Standard 2, Real 

Property Appraisal Reporting. 

COMPETENCY OF THE APPRAISER 

The appraiser hereby certifies that he/she has the experience and knowledge to adequately execute this appraisal assignment competently, 

without the assistance of others cr has disclosed the lack of knowledge or experience to the client. The appraiser has taken all steps necessary 

or appropriate and has described in the report the lack of knowledge and/or experience and the steps taken to complete the report competently. 

if you have any questions or require additional information, please contact our office. 

Respectfully submitted, 

MI-STATE APPRAISALS, LLC 

*The subject property GLA was measured according to ANSI standards. This complies 

with ANSI 2765-2021.

ton # 23287106 

USPAP Compliance Addendum 

Fio# 45507845-48507846 

Borovier 

MARK A & JENNIFER CULLEY 

— 

Property Address 

3657 Dorothy Ln 

iy 

Waterford 

Conly 

Oakland 

RL 

TpCode 

48329 

Lendar/Client 

MORTGAGE 

1, 

INC. 

APPRAISAL AND REPORT IDENTIFICATION 

“This Appraisaf Reportis one of the following ypas: 

[| 

Appraisal Ropont 

“This report was prepared in accordance with a requirements of the Appraisal Report option of USPAP Standards Rulo 2-2(a). 

[7] 

Rostictod Appraisal Roort 

This roport was preparad in accardanca with tho teqgitemonts of the Restictad Appraisal Report option of USPAP Standasds Rufs 2-200). Tho 

intended usor of this ropart is fimited Lo tho idantifad cent, Tis fs a Restricted Appraisal Report and ss raoriale for oss the sppraisar armived 

atthe opindons and conclusions sat forth in the roport may ol bo understood propery without the additonal Information in the appraiser's words. 

ADDITIONAL GERTIFICATIONS 

Aceriily that, to (ha bes! of my knowledge 

and belis: 

= Tho'statomonts of Fact contalnod i this report ars truo and comoct. 

= Tho report analyses, aplnions, and conclusions ara limited only by tho roportad assumptions and are roy persona), impastia, and tnblased professional analyses, 

opinfons, and conchusions. 

have no (or tho spociied) prosont of prospective inferastin tho propor thal is the subject of ins report and no (or specified) persona intarast wih raspect othe 

partos volved. 

Fhavo ho bias wiih respect to tho property thal Is the subjact of this rap or he parties Involved with Us assignment. 

. My 

nhl 

wes 

not 

pon 

ing 

of soporiing 

reste. 

uty, 

tor complaling this 

assignment 

is not 

upon the 

oF oporting of a 

nod 

valuo or direction a valuo that favors tho causa 

af the client, the amount of tha valuo opirkan, a attainment of a sipulated resui, or the occurronce of 2 subsequont avent directly tefated Lo the intended use of 

(his appralsal. 

My analyses, opinfons, and conclisions woro dovefoped and this report has been prepared, n conformity with the Unitormm Standards of Professional Appraisal Practice. 

This appralsal con was praparad In accordance with [ho requirements of Tio Xl of FIRREA and any implsmonling rogufations. 

PRIOR SERVICES 

DX 

thavo HOT performed sorvicus, aa on appralsar or in any clher capacity, rogarding the propurty that x the suboct of this report within tho thrao-yoar poriod 

Immediately preceding ascaptance of this asslgrmenl. 

{T] 

+HAVE performed sorvces, as an appraisor or in another capacity, 1ogarding the property thal Is ho subject of this report witin ha hra-year parlod Immediately 

proceding acceptancs of his assignment. Thosa services are doscribod in tho commons below. 

PROPERTY INSPECTION 

have HOT mads a personal inspection of tha property thats tho subjoct of 14s roport. 

IX) 

| HAVE mada personal inspoction of the property at is he subject ofthis report 

APPRAISAL ASSISTANCE 

Unlass othorwiss holed, io one provided 

vost property appraisal 

tothe parson signing ills 

anyone did pravido 

sige 

they 

are hereby Hontied along with a summary of the extent of a assistance providsd in ho roporl 

N/A 

ADDITIONAL COMMENTS 

‘Additional USPAP related issues raquiing disclosuws and/or any stato mandated requirements: 

N/A

23287106 

Market Conditions Addendum to the Appraisal Report 

Fle 

48507845-48507846 

The purpose of Tis addendum Is to provide Ine lendet/client wih a olear and accurate understanding of the market frends and condhions prevalent in Ihe subject 

nelghborhood, This Is a required addendum for all appraisal reports with an effective date on or afer Apr 1, 2009. 

Property Address 

3657 Dorothy tn 

St Waterford 

Ste MI 

P Code 48329 

Gomower 

MARK 

A & JENNIFER CULLEY 

nnuotians: The appraiser ust use ths Information eagired on iis orm as the bast fo Hier conclusions, 7d Must provide support for those Conchusions, fegarding 

Housing ends and overal market conditions as reported In the Nelghborhood section of the apprasal report fam. Tho appraise must ln al he formation o the extent 

it fs available and rfsble and must provide analysls as indicated bow, If any tequied data 5 unavailable of Is consdered unrefabl, We appraiser must provide an 

explanation. 

I recogalzed thal not all dala sources willbe abl Yo provide data forthe shadzd ares below If tis avafabe, however, ne appraiser must Include the deta 

In the analysls. If data soutces provide (he requied Information as an average instead of the madian, the ‘appralssr 

should report the available figura and identity it as an 

average. Sees and Islings must be properties that comple wih th subject propedty, determined by applying th criteria thal would be used by a prospective buyer of te 

subject property. Tho appraiser must explain ary anomalies In the data, Such as Seasonal markels, news constnicton,foreckasures, fc. 

Inventory Analysis. 

Prior 7-12 Months 

Prior 4-8 Montiis 

Curent - 3 Months 

Overall Trend 

Total # of Comparable Sais (oeMed) 

10 

3 

5 

Tticasig 

Sable 

Tecling 

‘Fiosorplon Rte (Total Sales) 

167 

133 

1.67 

[] Vereasing[{_] Stable 

Decliing 

Tolal # of Comparable Active Listings. 

1 

4 

5 

Declining 

Stable 

Increasing 

iors of Housing SppY (10i] LShngyAD Rate) 

0.6 

0.8 

3.0 

Tediniag 

able 

noreesihg 

Median 

Sale & Liat Price, DOM, Sale/List % 

Prior 7-12 Months 

Prior 4-6 Months. 

Curent - 3 Months 

Overall Trend 

Hedlan Comparable S2e Price 

470,000 

648.500 

480,000 

TY neteasing 

Stale 

Decining 

Hedan Comparable Sales Days 

on Harel 

48 

10 

32 

Declining 

|| 

| Slave 

[| Moreasing 

Median Comparable Lisl Price 

609,984 

699,984. 

665,750 

[=] Increasing 

Stable 

Declining 

edian Comparable Listings Days on Markel 

159 

159 

43 

Decliag 

Stable 

oreasing 

Wien Sale Poe as % of Lit Pics 

96.1% 

97.1% 

95.6% 

[] ioreasing 

Stable 

Deciiing 

“Sller- developer, ulder, elope Marcle assistance prevalent? 

ves 

[|W 

[0] Declining 

[[3%) 

Stable 

[| Moreashg 

Explain in detal (he seller concessions trends for the past 12 months (¢.9., seller contributions increased from 3% ta 5%, Increasing use of buydorwns, closing costs, condo 

fogs, options, elo) 

CONCESSIONS ARE COMMON WITH PRIVATE SALES, AND BANK SALES WHICH SELL WITH FHA FINANCING. CONCESSIONS CAN BE 

VARIED IN PURPOSE, BUT ARE GENERALLY FOR MORTGAGE COSTS. 

MARKET RESEARCH & ANALYSIS 

‘Are foreclosure sales {REQ sales) a factor in the markel? 

[i] Yes 

DG fe 

Ti yes, explain {including the trends in stings and sales of foreclosed properties). 

Che data sources for above Information 

MLS, PUBLIC RECORDS, SALES STUDIES, MEDIA, APPRAISAL EXPERIENCE, 

‘Sommarize the above Infomation &5 support for your conchusions in the Neighborhood section of the appralsal report form. ff you used any addflional Information, such as 

an analysis of pending sales and/or expired and 

listings, to formutate your: 

ions, 

provide both an 

and support for your 

THE ABOVE NUMBERS SHOULD BE CONSIDERED 

AS ESTIMATES OF CURRENT CONDITIONS, AS SELLER MOTIVATION VARIES AND FREQUENTLY RESULTS IN 

INCONSISTENT VALUES. MARKETING TIMES MAY NOT INCLUDE THE TOTAL DAYS OF ALL THE LISTINGS WHEN A PROPERTY HAS BEEN LISTED MULTIPLE TIMES. 

THE NEIGHBORHOOD SECTION OF PAGE 1 OF THE URAR FORM RELATES TO THE SUBJECT NEIGHBORHOOD AND MAY INCLUDE HOMES OF VARIOUS SIZE AND 

FUNCTIONAL UTILITY. THE SALE AND LISTING INFORMATION FOUND AT THE TOP OF PAGE 2 AND THE NUMBERS SHOWN tN THE 1004MC ONLY RELATES TO 

PROPERTIES THAT ARE CONSIDERED COMPARABLE TO THE SUBJECT PROPERTY AND DO NOT RELATE TO ALL PROPERTIES FOUND IN THE NEIGHBORHOOD. 

Tithe subject Is a unit ina 

o 

ojsot, completa lhe 

: 

Project Name: 

Steet Project Daa 

Prior 7-12 Months 

Prior 4-5 Mole 

Cures 3 Hors 

Gveral rer 

Total 

# of Compatable Sais {Setiod) 

NA 

NA 

NA 

[] Woieesig 

Stable 

Decliing 

“Absorpion Rate {folal Sales/Mantis) 

NA 

NIA 

WA 

[] noreasing 

{| Save 

| 

Decling 

oiel 

7 of Acie Comparable Listings 

NA 

NIA 

NIA 

[] Decling 

Stabe 

Tngreashg 

Honihs of Unit Supply {Total Lisings/Ab. 

Rate) 

NA 

NA 

NIA 

[+] Decleing 

Stalls 

Incroasiig 

"A TorecTosure sas REO sales) 

a actor 

1 poet? 

TJ Ves 

|] Ho 

Tyes, nde io mires of FED Ising 

and expen he vends In stings and Seles of 

PY 

foreclosed properties. 

NIA 

G 

I 

8 

£ a 

2 8 5 

H 2 

H

23287106 

fletio. 

 48507845-48507846 

UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM 

(Source: Fannle Mae UAD Appendix D; BAD Field-Spscific Standardization Requirements) 

Condition Ratings and Definitions 

1 

“The Improvements have been very recent constructed and hava not previously bean occupied. The entire structure and all components are new 

and tho dwaling features no physioal dapreciation.* 

*Note: Newly constructed improvements that feature recyclad matorials and/or components can be considered naw dwellings provided that the 

dwelling Is placed on a 100% new foundation and the recycled materials and the recycled components have been rehabiltated/re-manufactured 

into like-new condition. Recently constructed Improvements that have not been previously occupied ars not considered “new” f they have any 

significant physical depreciation {i.6., newly constructed dwelings that have been vacant for an extended period of ime without adequate 

maintenance oF upkeep). 

c2 

The Improvements feature no dsferred malntenarice, litle of no physical depreciation, and require no repalrs. Virtually all building companants 

are new or have besn recently repaired, refinished, or rehabliitated. All outdated components and finishes have been updated and/or replaced 

with components that meet current standards. Dwellings in this category alther are almost new or have been recently completely renovated and 

are similar in condition to new construction, 

c3 

The improvements are well maintained and feature limited physical depreciation dug 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. 

c4 

The Improvements feature same minor deferred maintenance and physical dterioration dus to normal wear and tear. The dwelling has been 

adequately maintained and requires only minimal repairs to building componants/mechanical systems and cosmetic repairs. All major building 

componnts have ben adequately maintained and are functionally adequats. 

5 

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 fivability is somewhat diminished due to condition, but the dwelling remains 

useable and functional as a residence. 

CE 

The Improvements have substantial damage or deferred maintenance with deficiancies or defects that are severs enough to affect the safety, 

soundiass, or structural integrity of the improvements. The improvements are in need of substantial repairs and rehabilitation, including many 

or most major components. 

Quality Ratings and Definitions. 

at 

Dwellings with this quality rating are usually uniqus strictures that are individually designed by an architect for a specified user. Such 

yesidences typically are constructed from detalled 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 

sxtarior refinements and ornamentation, and exceptionally high-quality interior refinements. The workmanship, materials, and finishes 

throughout the dwelling are of exceptionally high quality. 

a2 

Dwellings with this quality rating are often custom designed for construction on an individual property ownar's site. However, dwellings In 

this quality grade are also found in high-quality tract developments featuring residence constructed from Individual plans or fram highty 

modified or upgraded plans. The design features detailed, high quality exterior omamentation, high-quality Interior refinements, and detail. Tha 

workmanship, materials, and finishes throughout 

the dwelling are generally of high or very high quality.

UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM 

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

Quality Ratings and Definitions (continued) 

05 

Dwallings 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 pans featuring minimal fenestration and basic finishes with minimal exterior ornamentation 

and limited Interior detail. These dwellings meet minimum buliding codes and are constructed with inexpansive, stock materials 

with imited refinements and upgrades. 

as 

Dwellings with this quallty rating are of basic quality and lower cost; some may rot be suitable for year-round occupancy. Such dwellings 

are often built ith simple plans oF without plans, often utizing the lowest quality building materials. Such dwellings are often built or 

expanded by persons who are professionally unskilled or possess only minimal constriction skills. Electrical, plumbing, and other mechanical 

systems and equipment may be minimal or nan-sxistent. Older dwellings may feature one or mare substandard or non-conforming additions 

to the original strusture 

Definitions of Not Updated, Updated, and Remodeled 

Not Updated 

Little or no updating of modemization. This description includes, buts not Bmited 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 te 

appliances, fixtures, and finishes are predominantly dated. An area that s ‘Not Updated” may stil bo wall maintained 

and fully functional, and his rating does not nocessarily Imply deferred maintsnance or physioal/funstional deterioration. 

Updated 

Fhe area of the hame has been modified to moet current market expectations. These modifications 

ate limited in terms of both scope and cost. 

An updated area of the home should have an improved fook and fee, or functional utility. Changes that constitute 

updates nciuds refurbishment and/or replacing componants to meet existing market expectations. Updates do not 

include significant alterations to the existing struchire. 

Remodeled 

Significant finish and/or structural changes have been made that increase utility and appeal through 

campleto replacement and/or sxpansion. 

A remadsled area refieots 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 ar counted as a full bath In all cases. Quarter baths (baths that feature only a tollet) are not 

includad 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 (eft of the period and the half bath count is represented to the 

right of the period. 

Example: 

3.2 Indioates three full baths and two half baths.

UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM 

(Source: Fannie Mao UAD Appendix D: UAD Fleld-Specific Standardization Requirements) 

Abbreviations Used In Data Standardization Text 

‘Abbraviation. 

- FultName 

Flelds: Where This Abbreviation May Appear: 

ac 

Acres 

Area, Site 

AdiPrk 

Adjacent 

to Park 

Location 

AdjPwr 

‘Adjacent to Power Lines 

Location 

A 

Adverse 

Location & View 

Armin 

Arms Length Sale 

Sale or Financing Concessions 

a 

Bathroom(s) 

Basement & Finished Rooms Below Grads 

br 

Bedroom 

Basement & Finished Rooms Below Grads 

[] 

Beneficial 

Location & View 

Cash 

Cash 

Sale or Financing Concessions 

CiySky 

City View Skyline View 

View 

CiyStr 

City Strest View 

View 

Comm 

Commercial influsnce 

Location 

3 

Contracted Date 

Date of Sale/Time 

Conv 

Conventional 

Sale or Financing Concessions 

Cri0rd 

Court Ordered Sale 

Sala or Financing Concessions 

DOM 

ays On Market 

Data Sources 

© 

Expiration Dato 

Date of Sale/Time 

Estate 

Estate Salo 

Sale or Financing Concessions 

THA 

Fedaral Housing Authority 

Sale or Financing Concessions 

GilCse 

Golf Course 

Location 

Gifew 

Golf Course View 

View 

Ind 

Industrial 

Location & View 

in 

Interior Gny Stairs 

Basement & Finished Rooms Bslow Grade 

Lndil 

Lendl 

Location 

LidSont 

Limited Sight 

View 

Listing 

Usting 

Salo or Financing Concessions 

Min 

Mountain View 

View 

N 

Neutral 

Location & View 

NonArm 

Non-Arms Length Sais 

Sal or Financing Concessions 

BsyRd 

Busy Road 

Location 

o 

Other 

Basement & Finished Rooms Below Grads 

Prk 

Park View 

View 

Pst 

Pastoral View 

View 

Pwrln 

Power Lines 

View 

PubTm 

Public Transportation 

Location 

[4 

Recreational (Rac) Room 

Basemont & Finished Rooms Below Grade 

Relo 

Relocation Sale 

Sale or Financing Concessions 

REQ 

REO Sale 

Sale or Financing Concessions 

Res 

Residential 

Logation & View 

RH 

USDA - Rural Housing 

Sale or Financing Concessions 

B 

Setllsment Date 

Date of Sale/Time 

Short 

Short Safe 

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 

Dats of Sale/Time 

Wo 

Walk Out Basement 

Basement & Finished Rooms Below Grade 

wu 

Walk Up Bassment 

Basement & Finished Rooms Below Grade 

Wir 

Waler Frontage 

Location 

Wir 

Waler View 

View 

Waods 

Woods View 

View 

Other Appraiser-Defined Abbreviations 

‘Abbreviation: 

FulbName:: 

“Fields Whers This Abbreviation May Appear

Subject Photo Page 

Borrower 

MARK A & JENNIFER CULLEY 

Property Address 

3657 Dorothy Ln 

cy 

Waterford 

County 

Oakland 

Stale 

MI 

ZpCode 

48329 

Lender/Client 

MORTGAGE 1, 

INC. 

Subject Front 

3657 Dorothy Ln 

Sales Price 

910,000 

Gross Living Area 

2,762 

Total Rooms 

7 

Total Bedrooms ~~ 

3 

Total Bathrooms ~~ 2.1 

Location 

B;Res;WirFr 

View 

B;Res; Wir 

Site 

13765 sf 

Quality 

Q3 

Age 

34 

Subject Rear 

fi 

(114 NO 

RY 

Subject Street

Photograph Addendum 

Borrower 

MARK A & JENNIFER CULLEY 

Property Address 

3657 Dorothy Ln 

City 

Waterford 

County Oakland 

State 

MI 

Zip Code 

48329 

Lender/Client 

MORTGAGE 1, INC. 

Kitchen

Photograph Addendum 

Borrower 

MARK A & JENNIFER CULLEY 

Property Address 

3657 Dorothy Ln 

City 

Waterford 

County Oakland 

State 

MI 

Zip Code 

48329 

Lender/Client 

MORTGAGE 1, INC. 

Master Full Bath-3

Photograph Addendum 

Borrower 

~~ 

MARKA & JENNIFER CULLEY 

_ 

EE 

Property Address 

3657 Dorothy 

Ln 

- 

City 

Waterford 

} 

County Oakland 

State 

MI 

Zip Code 

48329 

Lender/Client 

MORTGAGE 1, INC. 

Jas 

Zs” 

Tl EEA ea

Photograph Addendum 

Borrower 

MARK A & JENNIFER CULLEY 

Property Address 

3657 Dorothy Ln 

City 

Waterford 

County Oakland 

State 

MI 

Zip Code 

48329 

Lender/Client 

MORTGAGE 1, INC.

Borrower 

MARK A & JENNIFER CULLEY 

Property Address 

3657 Dorothy Ln 

City 

Waterford 

County Oakland 

Lender/Client 

MORTGAGE 1, INC. 

State 

MI 

ZipCode 48329 

Driveway 

Street View?2 

Street View3

Building Sketch (Page ~ 1) 

Boimower 

MARK 

A & JENNIFER CULLEY 

Propedty Addiess 

3657 Dorothy Ln 

cy 

Waterford 

County 

Oakland 

Stade 

pl 

ZpCols 

48329 

Lender/Gllent 

MORTGAGE 

1, 

INC. 

La 

Dining 

H 

fom 

Master Bedoom 

Concrete Patio 

} 

ar M1125501) 

Kitchen 

29912 

15TH; 

M ¥ 

Master Bath 

CT] 

" 

Bath hai) 

Recreation 

5 

aunty 

Foyer 

Study 

Bedroom 

fn 

® 

5 

pen Porc 

I= 

8 

pe 

i 

2 

= 

“ 

sn 

5 

voit 

Bedroom 

2 

3g 

J 

8 

Woe 

i. 

El 

Bedroom 

Tw 

3 

Eo

Building Sketch (Page ~ 2) 

Bomowsr 

MARK A & JENNIFER CULLEY 

Property Address 

3657 Dorothy Ln 

Cty 

Waterford 

Suny 

Oakland 

Stle 

pl 

IpCode 

48329 

Lender/Client 

MORTGAGE 1, INC. 

Tiving Area 

First Floor 

Second Floor 

Total Living Area (Rounded): 

Non-living Area 

Balcony 

Open Porch 

Basement 

Wood Deck. 

Concrete Patio 

Calculation Detalls 

20795q ft 

14x8 

49 x 38 

6x75 

4x15 

683 5q ft 

12x12 

14x 385 

276259 ft 

565q ft 

1x4 

605g ft 

6x10 

1967 

Sq ft 

49% 38 

6x75 

15%4 

571.31 Sq ft 

05x 21x28 

65x21x2.1 

37x21 

412x285 

05x18x2 

542% 2 

56% 3 

8x133 

411,25 sq ft 

0.5% 10.5 x 10.5 

Ix HS 

135x105 

15.5% 9.5 

05x25x25 

13x25 

EEE 

8 8 2 

wo 

[l 

& 

u 

3 

77.7 

103 

108.4 

168 

= 

108 

= 

5512 

= 

315 

141.75 

147.25 

3.12 

= 

325

Aerial Map 

Borrower 

MARK 

A & JENNIFER CULLEY 

Property Address 

3657 Dorothy 

Ln 

oly 

aterford 

County 

Oakland 

ste 

ml 

ZpCode 

48329 

Lender/Client 

MORTGAGE 1, 

INC. 

Dorothy, Ln 

_ 

un Ayloiog 

SUBJECT 

3657 Dorothy Ln 

’ 

ur Aposodks

Comparable Photos 1-3 

Borrower 

MARK A & JENNIFER CULLEY 

Properly Addtess 

3667 Dorothy Ln 

oty 

Waterford 

County 

Oakland 

state 

Mm) 

ZpCode 

48329 

Lender/Client 

MORTGAGE 

1, 

INC. 

Comparable 

1 

3585 Dorothy Ln 

Prox. to Subject 

0.09 MILES SE 

Sales Price 

750,000 

Gross Living Area 

2,750 

Total Rooms 

8 

Total Bedrooms 

3 

Total Bathrooms ~~ 2.1 

Location 

B;Res;WtrFr 

View 

B;Res;Witr 

Site 

14375 sf 

Quality 

Q3 

Age 

56 

Comparable 2 

7524 Maceday Lake Rd 

Prox. to Subject 

0.31 MILES SW 

Sales Price 

930,000 

Gross Living Area 

2,282 

Total Rooms 

6 

Total Bedrooms 

3 

Total Bathrooms ~~ 2.1 

Location 

B;Res;WirFr 

View 

B;Res;Wtr 

Site 

10454 sf 

Quality 

Q3 

Age 

34 

Comparable 3 

4109 Windiate Park Dr 

Prox. to Subject 

0.50 MILES NE 

Sales Price 

1,125,000 

Gross Living Area 

3,328 

Total Rooms 

9 

Total Bedrooms 

4 

Total Bathrooms ~~ 3.1

Comparable Photos 4-6 

Borrower 

MARK 

A & JENNIFER CULLEY 

Property Address 

3657 Dorothy Ln 

cy. 

Waterford 

Cony 

Oakland 

Stale 

MI 

ZpCode 

48329 

Lender/Client 

MORTGAGE 1, 

INC. 

Comparable 4 

6771 Williams Lake Rd 

Prox. to Subject 

0.65 MILES SE 

Sales Price 

825,000 

Gross Living Area 

2,667 

Total Rooms 

6 

Total Bedrooms 

2 

Total Bathrooms ~~ 3.1 

Location 

B;Res;WtrFr 

View 

B;Res;Wtr 

Site 

10019 sf 

Quality 

Q3 

Age 

34 

Comparable 5 

3855 Lotus Dr 

Prox. to Subject 

0.59 MILES NE 

Sales Price 

899,900 

Gross Living Area 

2,785 

Total Rooms 

7 

Total Bedrooms 

3 

Total Bathrooms ~~ 4.0 

Location 

B;Res;WtrFr 

View 

B;Res;Wtr 

Site 

11326 sf 

Quality 

Q3 

Age 

16 

Comparable 6 

Prox. to Subject 

Sales Price 

Gross Living Area 

Total Rooms 

Total Bedrooms 

Total Bathrooms

Location Map 

Borrower 

MARK 

A & JENNIFER CULLEY 

Propeity Address 

3657 Dorothy Ln 

city 

Waterford 

County 

Oakland 

state 

mi 

ZpCode 

48329 

Lender/Client 

MORTGAGE 1, INC. 

a la mode, inc. 

) 

~~ 

- 

[ J 

[J 

Inge Hil 

b 

ad 

i 

" 

tford | 

| 

a 

oad Ra 

LE 

| 

A 

4 

{ 

Mg 

Yona ft 

i» 

a 

ant 

i 

COMPARABLE No. 3 

3657 

Pe 

Ln 

4109 Windlate Park Dr 

SE 

No. 2 

752 Hasedlay ike Rd 

m— 

— 

COMPARABLE No. 5 

3855 Lotus Dr 

~~ 

Twp 

0.59 miles NE Byam 

Lave Bo 

* COMPARABLE No. 1 

3585 Dorothy Ln 

0 

les SE 

Waterford Ketter 

High Scho 

en 

Hatchery ite 

; 

a 

5 

2

LIGENSE 

DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS 

BUREAU OF PROFESSIONAL LICENSING 

P.O, BOX 30670 

LANSING, MI 48308 

STATE OF HICHIGAN ~ DERARTHENT OF LICENSING AND REGULATORY AFFAIRS 

BUREAY 

OF PROFESSIONAL LICENSING 

CERTIFIED RESIDENTIAL REAL 

ESTATE APPRAISER 

LICENSE 

HATTHEY DAVID BRIDGES 

LICENSE 

NO. 

EXPIRATION 

DATE 

1E040724LY 

07/31/2084 

22182070713 

MATTHEW DAVID BRIDGES 

COMPLAINT INFORMATION: 

yys 

S. 

HARVEY 

ST 

THE IBBUANCE OF THIS LICENSE SHOULD NOY BE CONSTRUED 

STE 

23-A 

AS AWAIVER, DISMISSAL OR ACQUIESCENCE TO ANY 

M 

COMPLAINTS OR VIGLATIONS PENDING AGAINSY THE 

PLYMOUTH. 

MI 48170 

LICENSEE, IT8 AGENTS OR EMPLOYEES. 

FUTURE CONTACTS: 

YOU SHOULD DIRECT INQUIRIES REGARDING THIS LICENSE OR 

ADDRESS CHANGES TO THE DEPARTMENT OF LICENSING AND 

REGULATORY AFFAIRS BY EMAILING BPLHELP@MICHIGAN.GOV 

OR CALL (617) 241-0199 

CGREYCHER WHITRER 

GovERuoR 

STATE 

OF MICHIGAN 

DEPARTMENT 

OF LICENSING AND REGULATORY AFFAIRS 

BUREAU 

OF PROFESSIONAL LICENSING 

CERTIFIED RESIDENTIAL 

REAL ESTATE APPRAISER LICENSE 

MATTHEW DAVID 

BRIDGES

INSURANCE 

DECLARATIONS 

GREATAMERICAN, 

br 

REAL ESTATE APPRAISERS 

INSURANCE GROUP 

ERRORS & OMISSIONS INSURANCE POLICY 

301 E. Fourth Street, Cinclnnati, OH 45202 

THIS 1S BOTH A CLAIMS MADE AND REPORTED INSURANCE POLICY. 

‘THIS POLICY APPLIES TO THOSE CLAIMS THAT ARE FIRST MADE AGAINST THE INSURED 

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

Insurance is afforded by the company indicated below: (A capital stock corporation) 

[Great American Assurance Company 

Note: The Insurance Company selected above shall herein be referred to ds the Company. 

Policy Number: 

 RAP3668591.23 

Renewal oft 

RAP3668591-22 

Program Administrator: 

Herbert H, Landy Insurance Agency Ine, 

100 River Ridge Drive, Suite 301 Norwood, MA 02062 

lem 1. Named dusured: 

~~ Matthew David Bridges 

Hem 2. Address: 

33250 Warren Rd,, Ste. 206 

City, State, Zip Code: 

Westland, 

MI 48185 

Item 3. Policy Period: From 

03/08/2023 

To 

03/08/2024 

(Month, Day, Year) 

(Month, Day, Year} 

(Both dates at 12:01 aan. Standard Time of the address of the Named Insured as stated i Hem 2.) 

Tem 4. Limits of Liabitity: 

AS 

1,000,000 

Damages Limit of Liability ~ Each Claim 

8, 

§__ 

1,000,000 

Claim Expenses Limit of Liability — Each Claim 

c. 

$__ 

1000000 

 pamiages Limit of Liability ~ Policy Aggregate 

D5 

L000,000 

Crain Expenses Limit of Liability - Policy Aggregate 

Hem 5. Deductible {Inclusive of Claim Expenses): 

A §_ 000 

Each Claim 

8. 

s__ 

0.00 

Aggregate 

Hem 6. Premium: 

$708.00 

item 7. Retroactive Date (if applicable); 

03/08/2010 

item 8. Forms, Notices and Endorsements attached: 

D42100 (03/15) D42300 MI (05/13) 

IL7324 (07/21), 

i}

CALARD 

county 

, 

IN 

This is t cert 

rt TREASURERS CERTiFicar 

va 

096820 

Liber 58852 

Page 585 

uce # 

Nr ss 28 of is Sate cued ty offen lic rope 

9/5/2023 

2:51:32PM 

 Recsipt A000074657 

iene or tion 

made as to the stafys 

) 

$26.00Misc Recording 

$4.00 

 Remonumentation 

.0 

tomatign 

% 

050.0 

ian 

or 

ay 

PAID RECORDED ~ Oakland County, MI 

Lisa Brown, Clerk/Register of Deeds 

A 

- 

ROBERT WITTENBERG, Coun 

i 

at 

» 

County 

Yi 

2.00 

§2c. 135, Act 205, 1303 fh aed 

WARRANTY DEED 

63-23882752-CLK 

KNOW ALL PERSONS BY THESE PRESENTS: That Peter M. Soloman and Karen S. Soloman, (“Grantor”) 

the address of which is; 3657 Dorothy Lane, Waterford, MI 48329 

convey(s) and warrant(s) to: Mark A. Culley and Jennifer Culley, husband and wife, ("Grantee") 

the address of which is: 6091 Birchcrest Ln, Commerce Twp, Mi 48382 

the following described premises situated in the Township of Waterford, County of Oakland, State of Michigan, to wit: 

rl 20, Mountain View Park, according to the plat thereof as recorded in Liber 4, Page 20 of Plats, Oakland County 

ecords. 

Parcel Identification No. 13-06-476-009 

also known as Property Address: 3657 Dorothy Lane, Waterford, MI 48329 

Parcel ID No.: 13-06-476-009 

SEE ATTACHED PRIVATE ROAD ACKNOWLEDGEMENT 

together with all and singular the tenements, hereditaments and appurtenances thereunto belonging or in anywise 

appertaining, REAL ESTATE TRANSFER VALUATION AFFIDAVIT FILED. 

Subject to zoning, building and use restrictions, easements and right of way of record. 

Dated this August 25, 2023 

Signed by: 

Peter M. Soloman 

Toads ne 

Jf 

Karen S. Soloman 

, 

— 

(1 

LU 

State of Michigan 

} 

)SS. 

County of Oakland 

) 

The foregoing instrument was acknowledged before me on this 25th day of August, 2023 by Peter M. Soloman and Karen 

S. Soloman 

/ 

] 

— 

Kethes, (lacgopid 

HoTRRY PUBL, STATE OF yy 

Notary Publid 

J 

MY Commission EES 1, 27,2009 

Notary County: 

State: 

ACTING IN COUNTY oF 

Commission Expires: 

fo 

Oak jan dq 

Acting In; 

o% 

When Recorded return to: 

Send Subsequent Tax Bills To: 

Drafted By: 

Mark A. Culley 

Grantee 

Peter M. Soloman 

Jennifer Culley 

3657 Dorothy Lane 

3657 Dorothy Lane 

Waterford, MI 48329 

4 

Waterford, Mi 48329 

Assisted by: ATA National TiteGroup; LLC 

WILHELM & ASSOCIATES REALTOR, INC, 

8485 Dixie Highway 

Clarkston, Michigan 48346 

(Office) 625-9500 

REVENUE TO BE AFFIXED 

AFTER RECORDING 

On

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