24-003565.pdf
Benjamin Evans, Petitioner V Township Of Richmond, Respondent · 24-003565-TT
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Page 1
RECEIVED AUG 11 2025 STATE OF MICHIGAN IN THE MICHIGAN TAX TRIBUNAL SMALL CLAMS DIVISION Benjamin Evans, Plaintiff, Vv. Richmond Township, Defendant. MTT Docket No. 24-003565 MICHIGAN TAX TRIBUNAL PLAINTIFF'S MOTION FOR DISCOVERY NOW COMES the Plaintiff, Benjamin Evans, and respectfully moves this Honorable Court for an order compelling the Defendant, Richmond Township, to provide the following discovery responses, pursuant to Michigan Court Rules (MCR) 2.301, et seq., and in support of said motion states as follows: 1. Number of Trips and Time Spent for Evaluation of the Township to Create Neighborhoods During Employment Plaintiff requests that the Defendant provide a detailed account of the number of trips made by the Township Assessor to the township for the purpose of evaluating the township makeup to create neighborhoods, during her employment as Township Assessor, and in relation to the 2024 tax evaluation. Specifically, Plaintiff requests: * The total number of trips made by the Assessor for the purpose of evaluating the township to create neighborhoods. © The total time spent on each trip, as well as the total time spent for all such trips. * The dates of these trips and the specific purpose of each trip. 2. Number of Trips and Time Spent for Appraising Properties for the 2024 Tax Evaluation Plaintiff requests that the Defendant provide a detailed account of the number of trips made by the Township Assessor to the township for the purpose of appraising properties for the 2024 tax evaluation. Specifically, Plaintiff requests:
Page 2
3. Copies of Assessor’s Cards Used for Economic Correction Factor Analysis Plaintiff requests that the Defendant provide copies of the Assessor's cards used by the Township Assessor in appraising properties as part of the economic correction factor analysis of the neighborhoods for the 2024 tax evaluation. Specifically, Plaintiff requests: * Copies of all Assessor’s cards used in appraising properties within the affected neighborhoods. * Copies of any notes, calculations, or work papers created by the Assessor in conjunction with the economic correction factor analysis for the 2024 tax evaluation. 4. List of Townships, Cities, Towns, and Municipalities that Employed the Assessor During the 2024 Tax Evaluation Time Period when the Assessor was Employed to perform the Duties of Richmond Township Plaintiff requests that the Defendant provide a list of all townships, cities, towns, or municipalities where the Township Assessor has been employed to perform assessor duties during the 2024 tax evaluation, including the following: * The name of each township, city, town, or municipality where the Assessor performed duties during the 2024 tax evaluation. ¢ The dates of employment or contract for each entity during the 2024 tax evaluation. * A description of the assessor duties performed by the Assessor in each jurisdiction during the 2024 tax evaluation. * The assessors posted work hours for each township, city, town, or municipality. 5. List of Individuals Contacted and Notes from Discussions Related to the Economic Correction Factor Investigation Plaintiff requests that the Defendant provide a comprehensive list of all individuals, organizations, or entities contacted by the Township Assessor in relation to the Economic Correction Factor (ECF) analysis for the 2024 tax evaluation, including the following details: ° The names and contact information of each individual or organization contacted by the Assessor as part of the ECF investigation. * A description of the purpose of the contact (e.g., verifying property transactions, determining market conditions, etc.). ° Any notes, records, or summaries of discussions held with each contact, particularly regarding
Page 3
* Sales under special circumstances that may have resulted in prices being above or below market value. * Any conclusions drawn from these contacts or discussions that impacted the Assessor's economic correction factor analysis and adjustments made to appraisals for the 2024 tax evaluation. 6. Compliance with Michigan State Assessor's Manual for the 2024 Tax Evaluation Plaintiff requests that the Defendant provide any documentation showing that the Township Assessor's actions and decisions during the 2024 tax evaluation were in accordance with the Michigan State- approved Assessor’s Manual for the year 2024, including any supporting materials used in the application of economic correction factors to property values. WHEREFORE, Plaintiff respectfully requests that this Honorable Court enter an order compelling the Defendant to provide responses to the discovery requests set forth above and grant any further relief the Court deems just and proper. Respectfully submitted, Benjamin Evans Plaintiff Dated: 8-7-2025
Page 4
STATE OF MICHIGAN MICHIGAN TAX TRIBUNAL Benjamin Evans Petitioner, v. Township Of Richmond Respondent. Case No. 24-003565-TT PETITIONER’S REPLY TO RESPONDENT’S RESPONSE Petitioner, by and through the undersigned, respectfully submits this Reply to Respondent’s Response in the above-captioned matter and states as follows: Respondent has failed to adequately address or rebut the substantive issues raised in Petitioner’s original appeal. Instead, Respondent's response sidesteps the core assessment failures that are central to this case. Accordingly, Petitioner reiterates and emphasizes the following critical points: 1. Failure to Adhere to Michigan Assessors Manual — Neighborhood Definition Respondent has not justified its departure from the Michigan Assessors Manual, which requires assessors to group properties into clearly defined neighborhoods sharing similar construction, use, and economic characteristics. In this instance, the assessor improperly included all township properties in a single sales study, despite notable disparities in property type, age, and market influences. This misapplication undermines the reliability of the derived Economic Condition Factor (ECF) and compromises the accuracy of the resulting assessed value. 2. Inadequate Sales Data and Improper ECF Application Due to the improper neighborhood definition, the sales data used to develop the ECF is both
Page 5
3. Independent Appraisal Supports Petitioner’s Valuation An independent appraisal conducted by the Veterans Administration—part of the Board of Review record—appropriately expanded the search for comparable properties beyond the township, acknowledging the lack of valid internal sales. This appraisal concluded a market value of $485,000. When considered alongside the corrected ECF-based value, the subject property's actual market value ranges between $402,000 and $485,000—significantly lower than the Respondent’s assessed value. 4. Lack of On-Site Inspection and Local Knowledge The assessor admitted during a March 12th call that she did not conduct a physical inspection of the subject property or visit the township at all, relying instead solely on MLS listings. This violates the Michigan Assessors Manual, which mandates consideration of on-site and location-specific factors— including neighborhood influences and externalities that may impact value. The assessor’s unfamiliarity with the local area further undermines the credibility of the assessment. CONCLUSION Respondent’s response fails to address the critical issues of procedural noncompliance, unsupported valuation methodology, and misuse of sales data. Petitioner has provided credible, documented evidence—including third-party appraisal support—that demonstrates the assessed value exceeds the property’s actual market value. WHEREFORE, Petitioner respectfully requests that the Michigan Tax Tribunal give due consideration to the submitted evidence and appraisal and adjust the assessed and taxable values accordingly, consistent with applicable law and assessment standards. Respectfully submitted, Benjamin Evans Petitioner 2946 State Highway M35 Negaunee, Mi, 49866 231-203-3131 bigbevans1048@gmail.com
Page 6
Exhibit A Actual E.C.F Analysis used by Mrs. Barton 5213.200-007.00 00NIGHOLAS 5213-208. 008-00 302 NICHOLAS AVE Std. Deviations 0.490421 Ave. ECF => 1400 Ave.Valonce=> 230007 Coefficient of Vare> _ 281200723 EFERES Exhibit B E.C.F vs Building Residual With E.C.F. Average line over value E.C.F vs Bldg Residual
Page 7
APPRAISAL OF REAL PROPERTY LOCATED AT: 2946 State Highway M35 See attached Negaunee, Ml 49866 FOR: USAA FSBVA 10750 McDermott Freeway San Antonio, TX 48288-0544 AS OF: 07/10/2023
Page 8
SUMMARY OF SALIENT FEATURES Subject Address 2946 State Highway M35 Legal Description See attached City Negaunee County Marquette State Mi Tip Code 49866 Census Tract 0013.00 Map Reference 32100 Contract Price $§ 525,000 Date of Contract 08/20/2023 Bomawer Benjamin P Evans Lander/Client USAA FSBIVA Stra (Square Feet) 2.595 Price per Square Fool $202.31 Location N;Res:Rurai 2 16 Bl contion I] g Total Rooms 8 Bedrooms 4 Baths 21 Appralser Amy K. Rickard Effective Date of Appraisal 07/10/2023
Page 9
Swanson, Mercier & Associates, Ing.
A
n
20-29-6-0892888
Uniform Residential Appraisal Report
Flo# 3002841488
Tho purpose
of Wis summary appraisal report
is
lo provide te londen/cliont with
an accurale, and adequately supporled, opinion
of the market vakie
of the subject properly.
Property Address
2946 State Highway M35
Cy _Negaunee
Ste
Mt
Zp Code
49866
Borrower Benjamin P Evans
Owner of Public Record
Christa Menichini
County_Marguette
Legal Description
See attached
Assessor's Parcel #
52-14.004-006-10
Tax Year 20272
RE. Takes § 6349
5 Neighborhood Name
Richmond Township
Map Reference
32100
Census Tract 0013.00
id Ccoupant
] Owner
[7] Tenant
[] Vacant
Special
ms$
0
[PD
HOAS ©
(J peryear
[] per month
[28 Property Rights Appraised
Dd] Feo Simple
Leasohold
[] Other (describe)
E28 Assignment Type
Purchase Transaction
Refinance Transaction
[| Other (describe)
Lender/Cent
USAA FSBIVA
Address
10750 McDermott Freeway, San Antonio, TX 48288-0544
1s tha subject property cumently offered for sale or fias It been offered for safe in the twelve months prior to tha efisctive date of his appraisal?
BQ Yes
{Jo
Report data sources) used, offering price(s), and date(s).
DOM 21;Per NCMLS#50112953, the subject was listed on 06/19/2023 with an asking price of
$499,900. See listing/sale history.
1 3G did
(did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysls was not
perfosmed.
Arms length sale;Per review of the client provided Purchase Agreement, the subject Is contracted to sell for $525,000.
i
1s
BS Contract Price §
525,000
Datg of Contrast
06/20/2023
Is the property seer the owner of public record?
[PR] Yes
[| No
Data Sowcs(s)
Equalization
5 H's thece any financial
ass
(loan charges, sale
ions, gift or dos
, 1c.) 10 be paid by any party on behalf of the borrower?
[J Yes
Ho
8
i ves, report the total dolfar amount and describe the tems to be pad,
$0;
Hote:
Race and the raclal composition of the neighborhood are not Spores factors.
Neighborhood
Characleristies
©
OneUnitHousing
Trends:
Sh
Ore-UniWousmg
| Prete
Land Use %
Location
Urban
[] Suburban
ut
Propet Vaies—
Increasing
[] Stable
Declining
PRICE
AGE
1 One-Unit
40%
put But
[1]
Over 75%
25-75%
[T] Under 25% | Demand/Supply
[<]
Shortage
[1
In Balance
Over Supply |
§ (000)
yrs)
[2-4 Unit
%
45] Growth
[1 Rapid
Stable
[7] Slow
Markeling Time
5] Under
3 mths
[1 3-6 mins
Overfimths |
40
tow
0
|MuliFamiy
%
fiz Neighborhood Boundaries
County Road 480
to the North, Forsythe Township
line to the East, M-35 to
675
High
135 | Commercial
%
53 South, County Road 565 to the West.
100
Pred.
75
|Othec
60%
fof Neighborhood Descrision
The sublect is located near the small community of Palmer located about 15 miles southwest of the City of Marquette and
§ Zhou! 6 mies from the City
of Negaunee.
It is located near two of the largest iron ore mines in the country (1 is closed). A mixture of housing
and ages including same manufactured homes. Little or no new growth or development. Other present land use is vacant land.
Haier Conditions (including support for dhe above conclusions)
Markat conditions affecting tho sublect neighborhood are similar to those in the generat area. Financing is
available at affordable interest rates
{recent increases),
area employment
is at
typical lovels. While the locat economy
remains stable, inflation
is a! a higher than historically
typical
BS rate, Due to increase in interest rates there had been some indications that the market is becoming stable however, this has been off set by
the more active Summer market,
Dimensions Irregular - See Legal Desoiption
Awa_10.79 ac
Shape
_Jreegular
View N;ResWd/Crk
Specific Zoning Classification
Rural Residential 1
Zoning Description
1 ac minimal fof size. See comments.
Zoning Compliance
(3) Legal
[77 Legal tlonconforming (Grandfathered Use)
[ ] No Zong
[™] legal (describe)
Is the highast and bast use of subject property as improved (or as proposad per plans and specifications) the present use?
Yes
[No
If No, describe
Utilities
Public
Other (describe)
Pubflc
Otter {describe}
Off-site Improvements
- Type
Publle
Private
w [ET]
O
Water
O
Well
Stret_Payed Rural Highway
]
fi Gas
Ll
Propane.
Sanhary Sever
|]
Septic
Aley
None
[]
[]
FEMA Special Flood Hazard Area
|] Yes
[3] No
FEMA Flood ZoneX
FEMA Map #
26103C0675D
FEMA Map Date
04/19/2016
Are the utilities and off-site improvements typical for the market area?
DQ Yes
[] No
Ifo, describe
Arg here any adverse site condiions or extemal factors (sasements, encroachments, environmental conditions, land uses, alc)?
[] Yes
No
H Yes, describe
No adverse influences and encroachments noted. Natural gas, public water and sewer are unavailable in the subject area which is typical for the
area and has no affect on the subject's marketability. The subject is located in Flood Zone "X", which is an area determined to be outside the 500
Bi
year food plain,
Home is along
a rural
highway; No issue with Geli and the home Js set pack from road,
‘Genarai Description
©
Foundation
tari
- materlais/condiion {Interior
metgrials/condition:
Unis EX One} One with Accessory Unit
Goncrele Stab
Ci ae
Foundation Walls
ICFPraCnertiad
Floors
CotCTMAIAG
# ol Stories
1.5
13g Fut Basement
Pariia) Basement _ Exterior Walls
Vinyl/Stone/Gd
Walls
Riywall/Prl/AG
Type BQ Det. [[] Atl
S-Det/End Unit
{Basement Area
1,397_sqt. [Roof Sudace
Metal/Gd
TimvFinish _ Wood/Gd.
15 Existing
{7 Proposed
Under Const.
{Basement Finish
1
%|[Gutters
& Downspouts
None
Bath Floor
CTile/AG
Design (Style)
Colonial
5 Dutside Entry/Bxt
Sump Pamp | Windaw Type
DblHng/Gd
Bath Walascot Fbrgle/AG
Year Bult
2008
Evidence of
[] Infestation
Storm Sashyinsufated
Yes/Gd
Car Storags
Nong
Effective Age (Vis)
7
Dampness
Settlement
Screens
Yes/Gd
Driveway
# of Cars
Attic
Nong
Healing {| FWA
HWBB
[DC] Radiant [Amenilles
Woodstove(s) #
1
[Diiveway Surface
Gravel
Drop Stalr
[1 Stairs
Other
|Fusl Propane
Hreplacsis) #
0
Fence None
Garage
# of Cars
4
Floor
Scutlle
Cooling __ [7] Central Alr Condilioning
Patioeck Yes
P4
Porch
| qCP
Carport
# of Cars
0
FL]
Finished
[1] Heated
Individual
Ix Other None
Poof None
X| Oe SeeCmnts [| | At.
(5 Det.
{1 Buti
Fi Appliances [1 Refrigerator
[1 Rangs/Oven
Dishwasher
[7] Disposal
Microwave
_[] Washai/Diyer
Other {describe}
Bath Fans
i] Finished area sbave grads comaing:
6
Rooms
4
Bedrooms
2.4
Bathis}
2,595
Snuare Feet of Gtoss Living Area Above Grade
2 Addtional features (special energy efficient items, ele).
No personal property included, The above ground pool is not included.
oPage 10
29-29-6-0692888
Uniform Residential Appraisal Report
Flo# 3002841488
There are.
QO
comparable
properties cumenSy offered
for
sale
in
the Subject neighborhood
ranging
in price from
§
0
$
0
There are
1
comparable sales
in the subject neighborhood within the past twelve months vanglng
In sale price from
$
470.00
08
470,000
FEATURE
]
SUBJECT
COMPARABLE SALE # 1
COMPARABLE SALE # 2
COMPARABLE SALE # 3
Address
2046 State Highway M35
1042 County Road 480
180 E Johnson Lake Rd
327 Pelissier Lake Rd
Negaunee,
MI 49866
Marquette,
Mi 49855
Gwinn,
M| 49841
Marquette,
MI 49855
Proxmily to Subject
.
16.96 miles NE
11.97 miles SE
7.15 miles NE
Sala Pica
=
=
0
402,0005:
Sale Price/Gross LIv. Area
1
HS
133.06 sqft
.
Ta 1 sat
Data Source(s)
NCMLS#50104886/OF;DOM 90 | NCMLS#50100317/0F: DOM 124
|NCMLS#50094968/GIS:| DOM 8
Verification Sotirces)
:
- {NCMLS/Deed/104%SP/LP Ratio
{NCMLS/Deed/96%SPALP Ratio
[NCMLS/Deed/95% SPLP Ratio
VALUE ADJUSTMENTS
DESCRIPTION
DESCRIPTION
{3 $ Adjustment
DESCRIPTION.
+)
$ Adjustment
DESCRIPTION
+{).$ Adjustment
Sales or Flnanclng
~~
lamlh
OjAmLth
OJAmLth
0
Concessions
BE
Conv.
0 Conve
0lConv:0
0
Dale of Sals/Timo
Co
1s07/23:00403
$05/23,c04123
01501/23:611/22
[4]
Location
N;Res;Rural
N;Res;L.ssRyl
0O|N;Res;LssRrl
OiN;Res;tssRrl
[t]
Leasshold/Fee Simple
Fee Simple
Fee Simple
Feg Simple
Fee Simple
She
10.79 ac
6.98 ag
-25.000{1.79 ac
+5,000/12.07 ac
-35,000
Vigw
N;ResWd/Crk
|N;ResWoods
0IB;Wir,Res
QIN.Res Woods
iY]
Design (Style)
DT1.5:Col
DI2.00,Col
0;DT1.5:Col
DT1.5:Chalet
[4]
Quality of Construction
Q3
Q3
Q4
+40,2001Q3
Actual Age
15
32
059
0:19
[1]
Condition
C3,
C3
+11,925/C3
+40,200/C3
Aboye Grade
Total
{Bdms. | Baths § Tota | Bémns. | Bains
Total
|Bdems.|
Baths
Jota!
8dans. | Baths
Room Gaunt
61
4121}
71.4130
-1.500)
8
| 3
{20
+1500]
51
3
[20
+1,500
Gross Living Area
2.59 sft
2268 sqft
+8175)
3.001
sqft
-10.150]
2,023 sqft
+14,300)
Basement & Finished
1397sf4sfwo
| 1134s 1sfwo
01864sf0sfin
+6,000{ 1440s1370sfin
0
Rooms Below Grade
4ri0br0.0ba2o
|Grr0br0.Obalo
+3,000
+5,000|0r0br1.0ba2o
-15,000
Functional Uti
Average
Average
Average.
Average
& Heating Cooling
PHWNone
PFA/MNane
O|PFAICent AIC
-2,000/PHWINone
I] Energy Efficient items
Wood Boiler
{wood Furnace
O| Fireplace
0;Gas Stove
0
bY Garage/Carport
4gdedw
3gabdw
+11.000] dnd gbitdw
-4,00012qa20d6dw
+6,000
fad PorclyPati/Deck
LgCP/Deck
LgCvdWipDek
-2,000{2 Cvd Pchs
+1,500|CP/Deck
+1,500
9
LgPatio/Sheds
|Fac/Shed/Patio
+1,000t gPatioFne/Shd
+1,000| Shed
+3,000
&
Sauna Bldg,
Int Sauna Stv
+3,500: None
+4,000| None,
+4,000
[
None
None
110FF/Bluelk
O}None
Jo et Adjustment Tota)
~~
TW os
10100]
H+
[T-
18
87,250]
[1+
DA-
[8
49,700
2 Adjusted Sata Pre
Net Adj.
21%
Net Adj.
2.7%
Net Adj.
39%
pe of Comparables
Gross Ad).
14.1%|$
487.100/6r0ss Adi.
29.7%
[$
489 250161088 Adj.
16.1%
|$
480,200:
di cl did
|
1 did not research
the oi or transfer histery of the subject property and comparable sales. If not, explain
My research
did
[7 did not reveal any prior sales or transfers of the sublect property for the three years prior to the effective date of this appraisal.
Data Source(s)
__ North Central Multiple Listing Service and Public Records
My research
[7] did
[38 did not reveal any prior sales of Iransfers of the comparable salas for the year prior 10 the date of sala of the comparables sale,
Data Source(s)
North Central Multiple Listing Service
Report the results of the research and analysis of the prior sale or transfer bistory
of the subject property and comparable sales (report additional prlor sales on page 3).
ITEM
SUBJECT
COMPARABLE SALE #1
COMPARABLE SALE #2
COMPARABLE SALE #3
Dats of Prior Sala/Transfer
0772212022
Price of Pror Sale/Transfer
$470,000
Data Source(s
MqtCntyEquiztn/NCMLS
NCMLS Check Only
NCMLS Check Only
NCMLS Check Only.
Effactive Date of Data Soures(s)
0710/2023
07/10/2023
7/10/2023
07/10/2023
Analysis of prior sale of transfer history of tha subject propsrty and comparable sales
Per NCMLS#50074595, the subject was listed on 05/17/2022 for
$525,000 and sold on 07/22/2022 after 66 days. The sale price was $470,000 with a $5,200 rebate for a net sate price of $464,800, There have
been no major changes
to the property since the 2022 sale, Updates include paint and a few light fixtures. There have been no other known sales
or transfers of the sublet within the past three years. There have been no known satesAransfers of the comparable sales within a 12 month
period of the current sale dates.
Summary of Sales Comparison Approach
Four sales are included here and were used in the analysis of the subject market. While some weight is given
fo each sale in arriving at an opinion of market value via the Sales Comparison Approach, primary consideration
is given to sales 1-3 Less
weight is given to Sale 4 as i is older but similar in jocation. Varying home styles as well as number of bedrooms
is typical
in this market and
| price range.
It should be noted that variances in sale and fisting activity occur in this area due i in part to the seasonal nature of the local real
estate market having less activil
in this market area based on the
geographical area covered by
the general market area similar comparable competing areas, school district,
same major employers). The.
highway dogs not pose a market division or barrier in the region. See additional comments page 3.Page 11
29-29-6-0892688
Uniform Residential Appraisal Report
Fle# 3002841488
FEATURE
|
SUBJECT
COMPARABLE SALE # 4
COMPARABLE SALE # 5
COMPARABLE SALE # §
Address
2948 State Highway M35
219 Lawson Rd
7398 County Road $60
1075 S County Road 557
Negaunee,
MI 49866
Skandia,
Mi 49885
Marquette, M( 49855
Gwinn,
MI 49841
Proximity to Subject
So
1
03milesE
24.71 miles N
12.88 miles SE
Sal Price
$
525.0001
8
4450000
8
499000
Ts
375,000
Sale Prce/Gross Liv. Area
$
_om3tstls
48607 seit).
05
200.85 soft
os
150.97 soft]
Data Source(s)
Ee
INCMI
S#50094368/0F;DOM 102 | NCMLS#50112280/0F,DOM 26
_|NCMLS#50106922/0F;DOM 75
Vedtication Source(s)
~
INCMIS/Deed/100%SP/LP Ratio_|Qriginal Asking
$449,900
Original Asking
$430,000
VALUE ADJUSTMENTS
DESCRIPTION
DESCRIPTION
+) § Adjustment
DESCRIPTION
+} § Adjustment
DESCRIPTION
+ § Adjustment
Sales or Financing
.
JArmith
0fListing
QiListing
[4]
Concessions
Conv,
0)
WO714/23.0
Q
Date of Salg/Yime:
BE
1502/23;611/22
QO Active
OlActive
0
F- Location
N;Res:Rural
N;Res;Rural
N;Res;Rural
N;Res;Rurat
[3 Leasenold/Fee Simple
Fee Simple
Fee Simple.
Fee Simple
Fee Simple
fo She
10.79 ac
BO ac
-55.000/47 ac
-26,000110 ac
+2,000
fig Viow
N;ResWd/Crk
{N;Pstr.Wd/Png
O|N:Res Woods
QiN;Wd:MrehPnd
Q
53 Dusign (Style)
DY1.5:Col
DT1.5Col
DT4,5;Chalet
0|DT1.00;Ranch
0
Fo Quaity of Construction
Q3
Q4
+44,5001Q3
+22,495|Q4
+56,250
fg Actual Age
15
22
0:17
0125
0
J<§ Condition
ca
C3
+22,250/C3
[e]]
+37,500
Ff Above Grade
Total | Barns, | Baths | Yotat | Bs. | Baths
Total
[Bdmis, | Baths
Total {Bom | Baths
fri Room Count
61.
4]211.7]1.4
[30
-1500
6 |
3
120
+15000
74
3
[21
[4
FS Gross Living Area
2,505
sift.
2,380
sqft.
+5375]
2,240 sgft.
+8,878!
2,484
sqft.
+2775
Basement & Finished
1397sf4sfwo
|523sf0sfin
+5,000; 1400sf0sfwo
0)2238sf1634sfin
0
Rooms Below Grade
4rr0br0.0ba2o
+5,0001
45,000) 2rr1br1.0baZo
~16,000!
Fumtional Utility
Average
Average.
Average
Average
Heating/Cooling
PHW/None
PFAMNane
O[PHWiNone
PFA/Cent AIC
-2,000
Enorgy Efficient tems
Wood Boiler
FrleWdErng,
-2,000) Frple/WdBIr
-2,000Pellet StviFrplc
-2,000
‘Barage/Carport
4gd6dw
20d6dw
+16,000) 2ga6dw.
+16.000;2ga6dw
+16,000.
Pozch/Pallo/Deck
LgCP/Deck
CP/OP/IDCKIEPch
0]tg Deck
+1,000/CPA gPatio/Dek
[1]
Extras
LgPatio/Sheds
_|Fence/FshdEP
Qi Generator
42,000] Fnc/Shd/SnaSty.
+2,000
Extras
Sauna Bldg
Pole Bldg
-8,000 Stras/SmiPiBm
-2,000!in Grnd Poal
-2,000
Exyas
None
None
None
None
Net Adjustment (Total)
EB
+
[1-8
31605)
P+
[]-
[8
27870]
P+
[1-
[8
95,625
Adjusted Salo Price
Net Ag).
71%
Not Adj.
62%
Not Ad).
55%
of Comparables
.
[Gross Ad).
37.0%]$
476,625|Cross Adj.
18.1%|$
477,770iCross Adj.
36.7
%|$
470,525!
Report the resus of tha research and analysls of the prior sale or transfer history
of the subject property and comparable sales (report additional pilot Sales on page 3).
TEM
SUBJECT
COMPARABLE SALE # 4
COMPARABLE SALE # §
COMPARABLE SALE # 6
Date of Prior Sate/Transfet
07/22/2022
Prica of Prior Sale/Transfer
$470,000
Data Sourca(s)
MatCrityEquizin/NCMLS
NCMLS Check Only
NCMLS Check Only.
NCMLS Check Qnly
Effective Date of Data Source(s)
07/10/2023
07/10/2023
07/10/2023
07/10/2003
Analysls of prior sale or transfer history of the subject property and comparabla sales
SALE HISTORY:
Analysls/Comments
1012 County Road 480 - The site size is smaller but the less rurat location anly a few miles from urban centers in Marquette is
superior. This home sold on 11/02/2020 for $332,500. At that time, the home had been wef maintained and some recent updates includes roof
and furnace. A prior listing was cancelled on 11/16/2019 after 57 days with an asking price of $339,900. Updates completed after the 2020 sale
include a new furnace, some flooring, bathroom sink
replaced microwave with a fanfhood and added to the tile back splash, added some gutters,
added small patio and some landscaping. The increase in value from 2020 is due to some updates but mostly due to market conditions over the
last few years. The basement finish is minimal/partial.
180 E Johnson Lake Rd - The site Is smaller but this site has 110 feet of frontage
on Blue Lake, a small inland lake/limited use. The detached
garage is ~1,200 sf and has a 640 sf finished loft. This property
sold on 12/09/2020 for $372,000, No jmprovements or updates had been made
between the 2020 and 2023 sales. This home was originally a 864 sf cottage built in 1964. In 2000 the original portion was gutted and a farge
addition
was built Most major components and construction elements are from the 2000 construction. The kitchen had bee remodel about 10
gars ago. The detached garage was built in 1998. The basement is smaller and inferior as it woud likely
not be suitable for future finishing.
327 Pelissier Lake Rd - Oversized garage with workshop is large enough to be a 2 car (28x28) but there is a single overhead door. Smaller site
but location close to town and setting (quiet private road) js superior.Page 12
.
.
.
n
29-29-6-0802888
Uniform Residential Appraisal Report
File 3002841488
It is important for the reader to understand thet site adjustments are based on land value and location and not on size alone. Example, while a site
may
be farger/smaller
in size,
it is located in a superior/inferior location, more or less rural setting, subdivisions. atong private dirt roads, closer to
suburban areas. No individual adjustment is applied for differences in location (ruratfless ruralfurban) or view (various bodies of water, wooded
residential) as these are considered in the overall opinion of site value. The same potential buyer would view the properties as similar.
Varying home styles as well as number of bedrooms and age are typical for homes in this market and price range. The subject has 4 bedrooms in
the above grade living area; the use of comparables with 2-4 bedrooms is felt appropriate and typical in this market. As noted by some of the
comparables with 3 bedrooms or less, and because of designistyle and layout, some of these homes have bedrooms and/or dens in the
basement or lower levels,
The subject area is made up of various
types,
ages, and styles of property:
this is evidenced by
the listings and sales Included jn the report. The
local market consist of various property types and sizes. Because of this there is typically few "paired sales" available in this specific section of
the market. Exiracting a market-derived individual adjustment through matched pairs is not ajways possible nor regarded as most refiable when
all of the available sales have more and or wider variations. Because of this, the cost approach was used, depreciation factors applied, and
extracted market information were considered to arrive at a reasonable and supported GLA adjustment. Higher than ideal adjustments were
applied for differences in gross living area. The sales used area considered to be reliable indicators of value and reflective of the current market.
1»
= These sales are not excluded because of a larger variances in GLA. The GLA adjustment has been bracketed.
g £
3 Adjustments are not based on UAD descriptions. The UAD rating given to the subject and each comparable considers what each property is "best
a described" as under the UAD definition. Properties can be “best described” under the same UAD definition and yet vary
in overall quality. Also,
Z properties can be “best described" under different UAD ratings and yet have no adjustment applied.
£
3) Quality
adjustments are not just based on the JAD quality rating but consider construction elements superiorfinferior to the sublect. For example;
| Typical ceiling height verses above average ceiling heights; Typical drywall verses custom drywall features and/or decorative wood panel, plaster;
stock materials for doors and trim verses solid wood or custom detail; vinyl and carpeting verses tile and hardwood; more or less cabinetry,
amount and size of closet/storage space, size and/or amount of windows; 2x4 verse 2x6; various counter top materials, quality differences in
mechanical and utility systems, ete.
Variances In actual ages are typical {most noted in homes of mare recent construction). The condition adjustments are based on the sale price
less any
concessions) depending on each comparables age and overall condition due to updating and maintenance
(not on UAD rating). No
adjustments are made for actual age as this is taken into consideration in the condition adjustments. Although some of the comparables may fall
under a certain condition rating some require adjustments for condition as they have hed more or less updating than the subject even though they
all fall under the same UAD definition of condition,
{JAD restricts garage entry data. Adjustments (if applied) are not based on UAD entry alone but consider items such as (smallerarger size, lofts, |
finish, heat, etc). UAD restricts basement finish eniry data. Basement finish adjustments are not based solely on square footage. The applied
adjustments consider the overall level of completeness as # is typical for basement finish areas to be partial (finished walls but open ceilings,
painted
concrete walls, uninstalled cameting and or concrete floors, etc). The basement is partitioned into rooms and are partially finished (open
Ei gelln
oonorele floors),
_ COST APPROACH 70 VALUE (not required by Fannie Mae)
Provide pr riomation Jor the lender/client » Toplkate the below cost figures and calculations.
Support for the opinion of she value (summary of comparable land sales or other methods for estimating site vafue)
Land sale data is on file with the appraiser that
supports the subject land value estimate below.
Fo) ESTIMATED
["] REPRODUCTION OR
REPLACEMENT COST HEW
OPINION OF SHE VALUE
30,000
4 Sourcs of cost dala
Marshall & Swift
DWELLING
2505 SQL @%
141.50
367,426
3 Qualty rating from cost service
A/Gd
Effoctiva dato of cost data
06/2023
Basement
1,397 Sef @%
34.19
47,763
8 Comments 07 Gost Approach (gross ving area calculations, depreciation, etc.)
See addenda,
-
48,380
2 The replacement costs used here are based on the Marshall & Swift
Garage/Caport
1,350 S4ft @$
49.35
66,623
[8 cost service and supplemented with local construction costs. Physical
| Total Eslimats of Cost-New
530,162
depreciation is based on the agellife method. SEE ATTACHED
Less
Physical
Functional
[External
IMPROVEMENT SKETCH FOR LAYOUT & DIMENSIONS.
Depreciation
53,019
26,510
=5(
79,529)
Extras: Large covered porch, patio, deck, sauna building, wood boier,
Depreciated Cost of Improvements
450.663
built-ins, basement finish (minimaf) and walk-out, storages, and a
"Asis" Valug of Ste Improvements
10,000
plumbing adjustment.
Ll Edimated Randi
® Sooo de LT ad VA hs
63 Years | INDICATED VALUE BY COST APPROACH
400 663
fi
Lo
INCOME APPROACH
TO VALUE fot necqulred by Fannl Hae)
.
:
.
aa
im
Esinated Siti Vakdt ot
X_ Gross Rent Muttipiler
=%
Indicated Vaiua by Income Approach
p24 Summary of income Approach (including support for market rent and GRM)
The income Approach to Value was not used here because single family
BE homes in this area typically do not sell based on their income generating capabilities.
“PROJECT INFORMATION FOR PUDS (1 applicable)
5the dovelopebubder In cont of he Fomeowns Resacktion (HOA)?
[7] Yes
Ho
Unittypels)
[1] Deanhed 5 Wiahed
Provide 1hs following information for PUDs ONLY if the developer/buiider is in control of the HOA and the subject praperty is an attached dwelling unit,Page 13
Supplemental Addendum
File No. 3002841488
Bormower.
Benjamin P Evans
Property Address
2946 State Highway M35
City
Negaunee
County Marquette
Stats
M1
Zp Cots
49866
Lender/Cliont
__ USAA FSBVA
SalelListing History
Per NCMLS#50074595, the subject was listed on 05/17/2022 for $526,000 and sold on 07/22/2022 after 66 days. The sale price
was $470,000 with a $5,200 rebate for a net sale price of $464,800. There have been no other known listings in the last 12
months,
Market Conditions
Itis occasionally difficult to obtain comparable sales that meet all secondary mortgage market guidelines, more particularly the
following: Comparables located within one (1) mile of the subject; Comparables
that have sold within the last six (6) months;
and Gross/Net Adjustments to comparables within the prescribed limits. Contributing factors to such difficully are these: The
large geographic area covered by Marquette County; a disproportionately small population with respect to the land area mass;
and the relative stability and seasonal nature of this real estate market. All attempts are made to use the best data available fo
assist in estimating the value of property being appraised. Adjustments are made only for those items that a typical purchaser
might consider in their buying decision and not for minor differences between the subject and each comparable. Most property
in this area sells via conventional bank financing with no special buydowns, but there are some seller's concessions. There are
some Land Contracts and FHA/VA financing.
Marquette County Michigan, where the subject is jocated, has a fairly stable economy mainly due to: minimal over building;
stable employment at Northern Michigan University, UP Health System, Cliffs Natural Resources iron Mines, Lundin Mine and
govemmental employment, and tourism.
At this specific time, there are significantly fewer listings than typical and some homes in select areas of the market are selfing
at or above sale prices and often going from active to pending in a shorter time. Current demand is high and the supply is low
which has led to recent increases in value, multiple offers, shorter DOM and higher list to sale price ratios.
At this specific time, there are significantly fewer listings than typical and some homes in select areas of the market are selling
al or above sale prices and often going from active to pending in a shorter time. Current demand is high and the supply is tow
which has led to recent increases in value, multiple offers, shorter DOM and higher list to sale price ratios. Due to the recent
increase in interesi rates, there had been some indications that the market was slowing down somewhat but as it is the summer
market which tends to be more active, market increases in select areas are still occurring. it should be noted that variances in
sale and listing activity occur in this area due in part to the seasonal nature of the local real estate market having less activity in
the winter months (October through April). Sales used that are over 6 months is a typical market condition in the immediate rural
market area. The subject is located in a rural area with a slower moving market.
In this market area, a typical rebate for financing or sales concessions is 3% - 6% of the sale price. Dollar for doltar adjustments
for financing or sales concessions within 3%-6% is in fine with the local market's response to these types of concessions and
the applied adjustments are reflect the contributory value the concession.
The estimated market value may vary from the predominate value for the neighborhood, but is not fell to be an under/over
improvement and it does not have an effect on marketability. Properties in this area range from $10,000 to $6750,000.
Highest and Best Use
Highest and best use is described as being the reasonable, probable and legal use of vacant land or an improved properly,
which is physically possible, appropriately supported, financially feasible, and that results in the highest value. The current use
as a single family residential properly is the highest and best use. The existing improvement in the report contribute to the
overall value in its ‘as-is depreciated overall condition as described within this report.
Exposure Time
Exposure time is the estimated length of time that a property interest being appraised would have been offered on the market
prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal. Exposure fime isa
retrospective opinion based on an analysis of past events assuming a competitive and open market. The subject's exposure
time is estimated to be 1-3 months.
Zoning & Site Comments
The subject and several of the sales and listings in this area are located within ~10 miles or so from The Sawyer International
Airport (former KI, Sawyer Air Force Base). This is a rural airport. There is no adverse issue wilh noise. There is no affect on
value/marketability for the subject property or comparables.
The type of systems that are used are a private well and a septic system. No impact on marketability/market value. Many of the
comparable sales have a similar systems in place {typical of suburban and rural areas).
Barns, out buildings, and additional garages are not unusual for the market area as can be ssen from the various out
buildings/amentlies that the comparable sales also have. Per Information gathered in conjunction with this appraisal, and
conversation with the owner, the subject is not currently used for any commercial or agricultural purposes.
External obsolescence was estimated to bring cost data used more in line with the local market. The costs used here are based
on the Marshall & Swift cost service. The current costs are adjusted by both District location muitiplies and local (regional)
multiplies. Often in small towns or rural locations as the subject, the cost new (after application of district and local multiplies,Page 14
Supplemental Addendum
Flie No. 3002841488
Borrower
Benjamin P Evans
Praparty Address
2946 State Highway M35
City
Negaunee
County Marquette
State
MI
Zip Code
49866
Lender/Cliont
__ USAA FSBVA
The appraiser attempted to obtain an adequate amount of information in the normal course of business regarding the subject
and comparable properties, Some of the standardized responses required by the UAD, especially those in which the appraiser
has NOT had the opportunity to verify personally or measure, could mistakenly imply greater precision and reliability in the data
than is factually correct or typical in the normal course of business. Examples include condition and quality ratings as well as
comparable sales and listing data. The appraiser makes no representations, guarantees or warranties, express or implied,
regarding building materials, their fitness, quality, condition or remaining economic life. Not every element of the subject
property was viewable. The appraiser did not move any personal property, due to liability concerns for potential damage to the
property, to disclose or reveal any unapparent or hidden defects to the structure, nor did the appraiser dismantle or probe the
structure to observe enclosed, encased, or otherwise concealed areas. Comparable data was generally obtained from
third-party sources including but not limited to the local MLS, County Assessor, Township Assessor, online resources and
additional public data sources. Consequently, this should be considered an “estimate” unless otherwise noted by the appraiser.
When performing the inspection of the subject properly, the appraiser visually observed areas that were readily accessible. The
appraiser is not required to disturb or move anything that obstructs access or visibility. The property inspection does not offer
warranties or guarantees of any kind,
Due to heavy snow fall in this area during winter months, a complete visual inspection of the roof, landscaping, driveways, and
exterior accessed crawl spaces is not always possible. The unobservable information contained in this report is obtained from
conversation with the owner, prior appraisal inspections on this property from the appraisers files, or from the realtor data sheet
and is assumed to be reliable.
This appraisal is not a home {nspection and the appraiser is not acting as a home inspector when preparing this appraisal
report. The borrower and or client has the right to have the property inspected by a professional home inspector.
‘The subject property was measured according to the Square Footage-Method for Calculating: ANSI® 2765-2021 (American
National Standards Institute®) Measuring Standards. The reader should be aware that every attempt is made 10 accurately
measure the subject property and denote room locations. Howsver, due to the difficulty of measuring the upper levels of homes
or measuring uniquely angled homes where interior measurements may need to be used, the overall size and room locations
should be considered an estimate.
fn addition, the location of the subject and comparable sales on the location maps should be considered approximate due to the
limitations of the mapping software program.
I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report
within the three-year period immediately preceding acceptance of this assignment.
Expanded Intended User
The Intended User of this appraisal report is the Lender/Client. The Intended Use is 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. Any other parly receiving a copy of this raport for any reason is not an intended user; nor does receiving a copy of
this report resuft in an appraiser-client relationship. Use of this report by any other party(ies) is not intended by the appraiser.
The Uniform Standards of Professional Appraisal Practice (USPAP) prohibits an appraiser from changing the name on or re
addressing an appraisal to anyone other than the client for whom it was originally prepared.
Comparable Photo Comments
An exterior inspection from the street was completed by the appraiser on each of the comparables.
In addition, the
comparables may have been appraised by Swanson, Mercier & Associates, Inc. Photos are taken either in conjunction with the
actual appraisal of these sales or as close fo their respective sales dates as possible,
Licensing Information
tn Michigan, appraisers are required to bs licensed and are now regulated by the Michigan Department of Licensing and
Regulatory Affairs, P.O. Box 30018, Lansing, Michigan 48809. Amy K. Rickard is currently licensed as a Certified Residential
Real Estate Appraiser. State Licensed Appraiser #1204070216. License expiration date is July 31, 2024.
Gramm-Leach-Bliley Privacy Disclosure
Swanson, Mercier & Associates, Inc. collects non-public information about the applicant from the following sources: information
received either from the applicant on application or other forms; information received about the applicant's transaction with the
client, our affiliates, or others; information received from a consumer reporting agency. Swanson, Mercier & Associates, Inc.
restricts access to non-public information about the applicant to those employees who need to know that information to provide
products or services to the applicant or client. Swanson, Mercier & Associates, Inc. maintains physical, electronic and
procedural safeguards to comply with federal regulations to guard ihe applicants non-public personal information. Swanson,
Mercier & Associates, Inc. does not disclose any non-public personal information about our customers or former customers to
anyone except as permitted by law.
Additional CommentsPage 15
Supplemental Addendum Fis ho. 3002841488 Borrower Benjamin P Evans Property Address 2046 State Highway M35 City Negaunee County Marquette Stale MI ZipCode 49866 Lender/Client __ USAA FSBIVA Afairly recent 2023 sale was excluded: 163 S Basin Dr (Negaunee, MI 49866 - Superior Negaunee Township area). This home sold on 03/29/2018 for $270,000, on 05/10/2013 for $285,000 minus a $4,000 rebate, and on 01/31/2007 for $272,900. Updates after the 2007 sale included new windows and hardwood floors, air conditioning units were installed, the sunroom was built, and the garage (heated & finished) was built. Updates after the 2013 sale include paint, some light fidtures amd updated master suite. Home sold on 03/04/2020 for $305,000 minus a $5,000 rebate. Updates betwsen the 2018 and 03/142020 sale were more cosmetic in nature. Home was re-listed again on 10/31/2020 as the sellers were divorcing. Home re-sold on 12/04/2020 for $339,000 (cash sale). Updates between the two 2020 sales include landscaping including a in ground sprinkler system, updated basement bathroom, some electrical updates and boiler and fireplace maintenance. The buyer of the 12/04/2020 sale was an out of state LLC. This home was re-listed on 12/12/2022 for $595,000 and sold on 02/03/2023 for $550,000 (cash). Updates included a new generator, water filter, paint, and light fixtures. Between the 12/04/2020 sale and the 2023 sale, the home was used as an executive single family rental and was offered furnished, The NCMLS notes this 2023 sale as a cash transaction however, the buyer has a mortgage for $522,500. it is not known nor can be verified by a disinterested party what personal property transferred with the sale. THIS SALE WAS NOT INCLUDED AS THIS iS A LOG HOME AND MAY OR MAY NOT HAVE INCLUDED PERSONAL PROPERTY. Subject - to the subject dwelling meeting VA requirements. Per review of the seller's Disclosure Statement, "Radon test completed, need to retest because might be due to seasonality or remediation may be necessary”. Based on this disclosure, it is assumed the above mentioned test results was above acceptable levels. Home must be found to have an acceptable radon level and/or a radon mitigation system must be installed. Elevated deck must have railing installed (elevated more than 30 inches from the ground. It is the appraisers understanding that Michigan Code does not require fall protection/raitings on porches/decks less than 30 inches from top of deck to grade. That being said, the appraiser is not acting nor qualified as a code inspector/enforcer. Handrail need for interior staircase in the garage. The ladder/stairs fo the 2nd story playhouse (above wood storage) needs to removed of repaired so as not fo be a safely issue. A safety cone was noted at the base and the MLS listing noted the stairs (ladder) are not stable. TIDEWATER COMMENTS The following was sent to the client and noted on the portal. Based on research the appraised value may be lower than the agreed upon sale price (tidewater). In accordance with the VA's Tidewater Initiative, | am notifying you that it appears that the appraised value will come in below the sales price of the subject property. If | do not hear from you within 2 business days | will submit the report. There was an additional delay as the POC did not receive the email. The POC reached out to the Realtor(s) 1o see if they could provide any additional sales. On 07/20/2023, the POC contacted the appraiser to notify that no additional sales were going to be provided. Per NCMLS#50074595, the subject was fisted on 05/17/2022 for $525,000 and sold on 07/22/2022 after 66 days. The sale price was $470,000 with a $5,200 rebate for a net sale price of $464,800 (88.5% SP/LP Ratio). The current $525,000 contract price is 5% over the asking price of $489,900 and almost 13% higher that the prior net sale price.
Page 16
Uniform Residential Appraisal Report Fio# retried This report form is designed to report an appraisal of a one-unit properly or a one-unit property with an accessory unit; including a unit in a planned unit development (PUD). This repori form is nol designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project. This appralsal report is subject to the following scope of work, intended use, Intended user, deflniion of market value, statement of assumptions and Nimiting conditions, and certifications. Modifications, additions, or deletions to the Intended use, Intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scops of work to Include any addllional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional cerlifications that do not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's continuing education or membership in an appraisal organization, are permitted. SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal report form, Including the following definition of market value, statment of assumptions and fimiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual Inspection of the Interior and exterior areas of the subject property, (2) Inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources, and (5) report his or her analysis, opinions, and conclusions in this appraisal report. INTENDED USE: The intended use of this appraisal report Is for the lender/client to evaluate the property that is the subject of this appraisal for a mortgage finance transaction. INTENDED USER: The Intended user of this appraisal report is the tender/client, DEFINITION OF MARKET VALUE: ~~ The most probable price which a property showld bring In a competitive and open market under all conditions requisite to a falr 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 titfe from seller to buyer under conditions whereby: (1) buyer and selfer 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 financlal amangements comparable thereto; and (5) the price represents the noymal consideration for tha property sold unaffected by speclat 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 tradition or faw in a market area; these costs are readily idenlifiable since the seller pays these costs in virlually all sales Yransactions, Special or crealive financing adjustments can bs made to the comparable property by comparisons to financing terms offered by a third parly institutional fender that Is not already invoived in the property or transaction. Any adjustment should not bs 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 certification In this report Is subject to the following assumptions and limiting conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the properly being appralsed or the tile 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 marketabls and will not render any opinions about the tile. 2. The appraiset has provided a skeich 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 appralser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency for other data sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified Special Food Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand, or as otherwise required by law. 5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject propery or that he or she became aware of during the research Involved in performing the appraisal. Unless otherwise stated in thls appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances,
Page 17
Uniform Residential Appraisal Report Fie socom APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: 1.1 have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appralsal report. 2. | performed a complete visual inspection of the interior and exterior areas of the subject properly. | reporied the condition of the improvements in factual, specific terms. | identified and reported the physical deficiencies that could affect the livability, soundness, of 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 thls appralsal report was prepared. 4. | developed my opinion of the market value of the real propery that is the subject of this report based on the sales comparison approach to value. 1 have adequate comparable market dala to develop a reliable sales comparison approach for this eppraisal assignment. | futher certify that | considered the cost and income approaches to value bul did not devslop them, unless otherwise indicated in this report. 5. | researched, verified, analyzed, and reported 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. 1 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 will be bufit on the and. 9. 1 have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales. 10. 1 verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest in the sale or financing of the subject propery. 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 propery Is located, 13. | obtained the information, estimates, and opinions furnished by other parfies and expressed in this appraisal report from rellable sources that |! bsileve to be true and comest. 14. 1 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 wastes, toxic substances, adverse environmental conditions, etc) observed during the inspection of the subject property or that 1 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 subject property. 16. | have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and Information In thls appralsal report are true and comrect. 16. | stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which arg subject only to the assumptions and limiting conditions in this appraisal report. 17. | have no present or prospective interest In the properly that Js the subject of this report, and | have no present or prospective personal interest or bias with respect to the participants in the wansaction. | did not base, either partially or completely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or national origin of either the prospective owners or occupams of ihe subject propery or of the present owners or occupants of the praperties In the vicinity of the subject propery or on any other basis prohibited by law. 18. My employment and/or compensation for performing this appraisal or any fulure or anticipated appraisals was not conditioned on any agreement or understanding, written or oiherwise, that | would report (or present analysis supporting) a predetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any patty, or the attainment of a specific result or occurence of a specific subsequent event (such as approval of a pending
Page 18
20-29-6-0892888
Uniform Residential Appraisal Report
Filed 3002841488
21.
The
lender/client
may
disclose
or
distribute
this
appraisal
report
to:
the
bormower,
ancther
lender
at
the
request
of
the
borrower;
the
mortgagee
or
its
successors
and
assigns;
mortgage
insurers;
government
sponsored
enterprises;
olher
secondary
market
pariicipants;
data
collection
or
reporting
services;
professional
appraisal
organizations;
any
department,
agency,
or
Instumentality
of
the
United
States;
and
any
state,
the
Distict
of
Columbla,
or
other
jurisdictions;
without
having
to
obtaln
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/client
may
be
subject
to
certain
laws
and
regulations.
Further,
{
am
also
subject
to
the
provisions
of
the
Uniform
Standards
of
Professional
Appraisal
Practice
that
pertain
to
disclosure
or distribution
by me.
23,
The
borrower,
another
lender
al
the
request
of
the
borrower,
the
mortgagee
or
its
successors
and
assigns,
mortgage
insurers,
government
sponsored
enterprises,
and
other
sacondary
market
participants
may
rely
on
this
appraisal
report
as
part
of
any mortgage
finance
transaction
that Involves
any
one
or more
of these
parties.
24.
If
this
appraisal
report was
transmitted
as
an
“electronic
record” containing my
“electronic
signature,”
as
those terms
are
defined
In
applicable federal
and/or
state
laws
(excluding
audio
and
video recordings),
or
a facsimile transmission
of
this
appraisal
report
containing
a
copy
or
representation
of
my
signature,
the
appraisal
report
shall
be
as
effective,
enforceable
and
valid
as
if
a
paper
version
of
this
appraisal
report
were
delivered
containing
my
original
hand
written
signature,
25.
Any
intentional
or
negligent
misrepresentation(s)
contalned
in
this
appraisal
report
may
resut
in
civil
Habllity
and/or
criminal
penalties
including,
but
not
Hmited
to,
fine
or
imprisonment
or
both
under
the
provisions
of
Tile
18,
United
States
Cods,
Section
1001,
et
seq,
or
similar
stale
laws.
SUPERVISORY APPRAISER'S CERTIFICATION:
~~ The
Supervisory
Appraiser
certifies
and
agrees
that:
1.
|
directly supervised
the
appraiser
for
this appraisal assignment,
have
read the appraisal
report,
and
agres
with
the
appraiser's
analysls,
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 appraisers
analysis, opinions,
statements,
conclusions,
and
the
appraiser's
cartification.
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
Professlonat
Appraisal
Practice
that
were
adopted
and
promulgated
by
the
Appraisal
Standards
Board
of
The
Appraisal
Foundation
and
that
were
in
place
at
the
time
this
appraisal
report
was
prepared,
5.
If
this
appraisal
report was transmitted
as
an
“electronic
record”
contalning
my
“elsctronic
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
thls
appralsal
report
were
delivered
containing
my
original
hand
written
signature.
APPRAISER
SUPERVISORY APPRAISER (ONLY IF REQUIRED)
Signature
Ao
bidar
~
Signature
Nams
Amy K. Rickard
Name
Company Name
Swanson, Mercier & Associates, Inc.
Company Name
Company Address
1229 West Washington Street
Company Address
Marquette,
Mi 49865
Telephone Number
(906) 228-9634
Telephone Number
Emall Address
amy@swansonmercier.com
Email Address
Date of Signature and Report
07/20/2023
Date of Signature
Effective Date of Appraisal
07/10/2023
State Certification #
State Certification #
or State License #
or State License #
State
or Other (describe)
~~ VA# 5002383
State #
Expiration Date of Certlfication or License
State
Mi
Explration Date of Certification or License
07/31/2024
SUBJECT PROPERTY
ADDRESS OF PROPERTY APPRAISED
CJ Did pot Inspect subject propertyPage 19
28-29-6-0832888
Fle No.
3002841488
UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM
{Source: Fannie Mae UAD Appendix D: UAD Field-Specitic Standardization Requirements)
Condition Ratings and Definitions
G1
‘The Improvements have been recently constructed and have not been previously occupied. The entlre structure and af components are new
and the dwelling features no physical depreciation.
Note: Newly constructed improvements that feature recycled or previously used materfals and/or components can be considered new dwellings
provided that the dwelling Is placed on a 100 percent new foundation and the recycled materials and the recycled components have been
rehabilitated/remantfactured inte like-new conditicn, Improvements that have not been previously aceupied are not considered “new” if they
have any significant physical depreclation (that [s, newly constructed dwellings that have been vacant for an extended period of time without
adequate maintenance or upkeep).
G2
‘The improvements feature no deferred maintenancs, little or no physleat depreciation, and require no repairs. Virtually all building components
are new or have heen recently repaired, refinished, or rehabilitated. All outdated components and finishes have been updated and/or replaced
with components thal mest curvent standards. Dwellings in this category are eifher almost new or have been recently completely renovated and
are similar In condition to new construction.
Note: Tha improvements represent a relatively new praperty {hat is well maintainad with no deferred maintenance and litils or no physical
deprecation, or an older property that has been recently completely renovated.
G3
The Improvements are well maintained and feature limited physloal depraciation dus to normal wear and tear. Soma components, but not every
major building component, may be updated or recently rehabilitated. The structure has bean welt malntalned.
Note: The Improvement is in its first-cycle of repfacing short-lived building components {appiancss, ficor coverings, HVAC, etc.) and Is
being well maintained. Its estimated effective age is less than its actual age. It also may reflect a property in which the majority of
short-lived buliding components have been replaced but not to the fevel of a complete renovation.
C4
The Improvements feature some minor deferred maintenance and physical deterioration due to normal wear and tear. The dwelling has been
adequately maintained and requires only minimal repairs to buliding componants/mschanlcal systems and cosmetic repalrs. All major building
components have been adequately maintained and are functionally adequate.
Note: The estimated effective age may be close to or equal to Its actual age. It reflects a property In which some of the short-lived building
components have been replaced, and some short-livad building components are at or near the and of thelr physical life expectancy; however,
they still function adequately. Most minor repairs have been addressed on an ongoing basis resulting in an adequately malntalned property.
cs
The improvements feature obvious deferred maintenance and are In need of some significant repairs. Some bullding components need repalrs,
rehabilitation, or updating. The functional utility and overall tivabifity Js somewhat dimfnlshed due to condition, but the dwelling remains
useable and functional as a residence.
Note: Some significant repairs are needed to the improvements due to the fack of adsquate maintenance. it reflects a property in which many
ofits short-fivad buliding components are at the end of or have exceeded their physical life expectancy but remain functional.
ce
The improvements have substantial damage or deferred maintenance with deficlencles or defects that are severe enough fo affect the safety,
soundness, or structural integrity of the improvements. The improvements are in need of substantial repairs and rehabilitation, including many
or most major components.
Note: Substantial repairs are needed to the improvemants due to the fack of adequate maintenance or praparty damage, It reflects a property
with conditions severe enough to affect the safety, soundness, or structurat integtity of the improvemanis.
Quality Ratings and Definitions
atPage 20
UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM
{Source: Fannie Mae UAD Appendix D: UAD Figld-Spectfic Standardization Requirements)
Quality Ratings and Definitions (continued)
a
Dwellings with this quality rating ars residences of higher quality built from individual or readily available designer plans in above-standard
residential tract developments or on an Individual property owner's site. The design Includes significant extarlor omamaentation and Interiors
that are wel! finished. The workmanship exceeds acceptable standards and many materials and finishes throughout the dwelling have been
upgraded from “stock” standards.
Ll
Owellings with this quality rating meet or exceed the requirements of applicable building codes. Standard or modified standard building pans
are utilized and the design Includes adequate fenestration and some exterior ornamentation and interior refinements. Materials, workmanship,
tinish, and equipment are of stock or builder grade and may feature some upgrades.
a5
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 flocr plans featuring minimal fenestration and basic finishes with minimal exterior omamentation
and Rmited interior detail, These dwellings meat minimum bullding codes and are constructed with inexpensive, stock materials
with limited refinements and upgrades.
[+1]
Dwellings with this quailty rating are of basic quality and Jower cost; some may not be suitable for year-round occupancy. Such dwellings
are often hullt with simple plans or without plans, often willizing the lowest quality building materials. Such dwellings are often built or
expanded by persons who are professionally unskilled or possess only minimal construction skills. Electrical, plumbing, and other mechanical
systems and equipment may be minimal or non-existent. Older dwallings may feature one or more substandard of non-conforming additions
to the origina structure
Definitions of Not Updated, Updated, and Remodeled
Not Updated
Little or no updating or modemization. This description Includes, but is not fimited to, new homes.
Rasidantiat 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 flfteen years of age are also considered not updated
If the
appliances, fixtures, and finishes are predominantly dated. An area thats ‘Not Updated’ may still be well maintained
and fully functional, and this rating doas not necessarily Imply deferred maintenance or physicalfunctional deterioration.
Updated
The area of the home has been modified to meet current market expectations. These modifications
are timited in terms of both scope and cost.
An updated area of the home should have an improved look and feel, or functional utility. Changes that constitute
updates fitclude refurbishment and/or replacing camponants to mest existing rarket expectations. Updates do nol
Include significant alterations to the existing structure,
Remodeled
Significant finish and/or structural changes have been made that increase utility and appeal through
complete replacement and/or expansion.
A remodeled area rafiscts fundamental changes that include multiple alterations. These alterations may include
some or aff of the follawing: replacement
of a major component {cabinet(s), bathtub, or bathroom tile}, rstacation
of plumbing/gas fixtures/appliances, significant structural alterations (retocating walls, and/or the addition of)
square footage). This would include a complete gutting and rabuiid.
Explanation of Bathroom Count
Three-quarter baths are counted as a full bath in aff cases. Quarter baths (baths that feature onty a toilet) are rotPage 21
UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM (Source: Fannie Mae UAD Appendix D: UAD Fletd-Specific Standardization Requirements) Abbreviations Used in Data Standardization Text “Abbreviation: Full Name: Fields Where This ‘Abbreviation May Appear A Adverse Location & View ac Acres Area, Site AdjPrk Adjacent to Park Location AdjPwr Adjacent to Power Lines Location ArmLth Arms Length Sale Sale of Flnancing Concessions AT Attached Structure Daslgn (Style) B Beneficial Location & View ba Bathroom(s} Basement & Finished Rooms Below Grade br Bedroom Basement & Finished Rooms Below Grade BsyRd Busy Road Location [1] Contracted Date Date of Sale/Time Cash Cash Sale or Fnancing Concessions Comm Commercial Influence Location Conv Conventional Salg or Financing Concessions op Carport Garage/Carport Cr0rd Courl Ordered Sale Sale or Financing Concessions ClyShy City View Skyline View View CtyStr City Street View View ov Covered Garage/Campaort DOM Days On Market Data Sources DT Detached Structure Deslgn (Style) aw Driveway Garage/Carport © Expiration Date Date of Sate/Time Estate Estate Sale Sale or Financing Concessiong FHA Faderal Houslng Authority Sale or Finaneing Concesslons g Garage Garage/Carport [TY Attached Garage Garage/Camort ghi Bulit-in Garage Garage/Cafport gd Detached Garage Garage/Carport GitGse Golf Course Location Glfvw Golf Course View View GR Garden Design (Style) HR High Rise Design (Style) in Interior Only Stairs Basement & Finished Rooms Below Grade Ind Industrial Location & View Listing Listing Sate or Financing Concessions Lndfl Landfill Location LtdSght Limited Sight View MR Mid-rise Design (Styla) Mtn Mountain View View N Neutral Looation & View NonAmt Nor-Arms Length Sale Safe or Financing Concesslons 0 Other Basement & Finished Rooms Below Grade 0 Other Doslgn (Styte) op Open Garage/Camort Prk Park View View Pst Pastoral View View Pwrln Power Lines Vigw, PubTm Publle Transportation Location Relo Relocation Sale Sale or Financing Concessions AE0 REQ Salo Sate of Financing Concessions Res Residential Location & View RH USDA - Rural Housing Sale or Financing Concessions [3 Recroational (Rec) Room Basement & Finished Rooms Below Grade RT Row or Townhouse Design (Style) $s Settlement Date Date of Sate/Time So Semi-detached Structure Design (Style) Short Short Sate Sate or Financing Concessions st Square Feet Area, Site, Basement sqm Square Meters Area, Site Unk Uniarown Date of Sate/Time
Page 22
Subject Photo Page Borrower Benjamin P Evans Property Address 2046 State Highway M35 City Negaunee County Marquette Stato MI Zip Code 49866 Lender/Client USAA FSBIVA Subject Front 2946 State Highway M35 Sales Pice 525,000 GLA. 2,595 Tot. Rooms 6 Tot. Bedrms. 4 Tot. Baths. 2.1 Location N;Res;Rural View N;Res;Wd/Crk Site 10.79 ac Quality Q3 Age 15 Subject Rear Subject Street
Page 23
Photograph Addendum Borrower Benjamin P Evans Property Address 2946 State Highway M35 City Negaunee County Marquette State MI Zip Code 49866 Lender/Client _ USAA FSBIVA Kitchen Kitchen Kitchen Dining Area
Page 24
Photograph Addendum Borrower Benjamin P Evans Property Address 2946 State Highway M35 City Negaunee County Marquette State m1 Zip Code 49866 Lender/Client USAA FSBIVA | — Primary Bedroom Primary Bathroom 1/2 Bathroom
Page 25
Photograph Addendum Borrower Benjamin P Evans Property Address 2946 State Highway M35 Counly Marquette Stale MI Zip Codo_ 49866 Gil legaunee Lender/Client __USAA FSBVA Foyer 2nd Floor
Page 26
Photograph Addendum Borrower Benjamin P Evans Property Address 2946 State Highway M35 City Negaunee County Marquette State M1 Zip Code 49866 Lender/Client USAA FSBIVA Bathroom Basement Walk-Qut To Large Patio Partial Finish Basement Utility Partial Finish
Page 27
Photograph Addendum Borrower Benjamin P Evans Property Address 2946 State Highway M35 City. Negaunee County Marquette Stale MI Zip Code 49866 Lender/Client USAA FSBIVA Utility Covered Porch Exterior
Page 28
Photograph Addendum Borrower Benjamin P Evans Property Address 2946 State Highway M35 City Negaunee County Marquette State MI Zip Code 49866 Lender/Clign] USAA FSBIVA Exterior Exterior
Page 29
Photograph Addendum Borrower Benjamin P Evans Property Address 2946 State Highway M35 City Negaunee County Marquette State MI Zip Code 49866 Lender/Client _USAA FSBIVA Staircase to Loft Handrail Needed
Page 30
Photograph Addendum Bomower Benjamin P Evans Property Address 2946 State Highway M35 City Negaunee County Marquette Stale_M Zp Code 49866 Lender/Client USAA FSBIVA Step Ladder Access To Upper Level Sauna Storage/Playhouse Repair Or Remove Wood Boiler Exterior
Page 31
Building Sketch Borower Benjamin P Evans Progeny Address 2946 State Highway M35 City. Negaunee Cownly Marquette State Mi ZipCode 49866 Lender/Client USAA FSBIVA Dimensions and Room Locations Are Approximate Susmisn arotemtamy PTTe— ERRaRe— Comments: Lo AREA CALCULATIONS SUMMARY. : © LIVING AREA BREAKDOWN Code Description : NetSlze Net Totals Breakdown Subtotals GLAlL First Floor 1397.20 1397.20 First Floor GLAZ Second Floor 1198.32 1198.32 28.0 ‘x 49.9 1397.20 BSMT . Basement 1397.20 1397.20 second Floor GAR Garage 1350.00 1350.00 5.8 x 6.1 35.38 »/® 1g Cvrd Porch 405.00 6.1 x 5.8 35.38 Patio 347.20 6.1 x 5.8 35.30 Open Porch 99.20 851.40 6.1 x 5.8 35.38 oth Sauna Bldg 158.76 158.76 6.1 x 5.8 35.308 6.1 x 5.8 35.30 19.8 (x 49.8 986,04
Page 32
Legal Description Borrower Benjamin P Evans Property Addiess 2946 State Highway M35 Gly Negaunee County Marquette State MI Tip Code 49866 Lender/Client SAA FSBVA Parcel #d Part of the South Half of the Southeast Quarter of the Noithwest Quarter (S+¥4 SE-% NW- Ya).of Section Four (4) Township Forty-Six North; Range Twenty-Six West (T46N-R26W), commenging atthe West Quarter Corner of said Section Four (4); thence N89°22'59E along the East-West Quarter line of said section 1,303.09 fest to the Point of Beginning, said Point being the Center-West Sixteenth comer of said Section: Thence NOO°36'SS'E. along: the: West sixtesnth line of said seption 658.74 fee thienceN89* 2409 E 460.74 feet to the centerline of State Highway "M-35", said Highway having a right-of-way (R.0.W.) 66 feet wide, 33 feet on either side of the centerline thereof: thence $38°33'16°E: along 'said centerline 348,00" feet; thence 839°18'00°E along said centerline 204.00 feet; thence $50°42°00"W 195.9} feel: thence S39°18'00"E parallel with said centerline 131.03 feet to said quarter line; thence. $89°22'59"W along said quarter line 745.31 feet to the Point-of Baginning; The above parcel contains 10.05 acres; more:or less. Parcel #7 Part'of the South Half of the Southeast Quarter of the Northwest Quarter (5-4 SE-Ve NW- Yayo Section Four (4), Township Forty-Six North, Range Twenty-Six West (T46N-R26W), cominencing atthe West Quarter Comer of aid Section Four (43; thence N89222'59"E atong the Egst-Wost-Quarier line of said Segtion 2,048:30 feel; thence N39° 18'00"W 44.84 feet to the Point:of Beginning; Thence continuing N39°1800'W 86.19 feer; thence NS0“4200%E 195.91 feet to the ‘eenterling of State Highway “M-35", said Highway-having a right-of-way 66 feet wide, 33 feet on ‘wither sideof the conterline thereof; thence SI9°18'00“E. slang said centerline 243.05 feet; thence: S85°22'59"W. parallel with-said Quarter line 250,97 feet to the Paitist of Beginning. The:above described parcel contains 0,74 acres, nibre oF less: The above-described parcels are subject to the rights of the public in State Highway M-35 and subject to all such conditions, exceptions, and reservations as may be contained in the conveyances constituting the recorded chain of title 1o'$aid premises. The Grantors grantunto the Grantees the right to make alt Division under Section 108 of the Land Division Act, Number 288 of Public’ Acts; 1967, This property may be located within the vicinity of fammland or a farm operation. Generally accepted agricultural and management practices which may generate hoise, dust; odors, and other associated conditions may be used and are protected bythe Michigan Right to Farm Act.
Page 33
Marquette County Equalization Data - Page 1 Eh: MARQUETTE Marquette County GIS Rverord C (0) U N TY Parcel Report: 52-13-004-006-10 Med 100m 300ft Property Address 2946 M35 NEGAUNEE, MI, 49866 This Parcel has no image on file. Owner Address MENICHINI CHRISTA M 2946 M35
Page 34
Unit: Unit Name: Marquette County Equalization Data - Page 2 52-13 RICHMOND TOWNSHIP General Information for 2023 Tax Year Parcel Number: 52-13-004-006-10 Property Class: 401 Class Name: RESIDENTIAL School Dist Code: 52090 School Dist Name: NEGAUNEE PUBLIC. PRE 2022: 100% PRE 2023: 100% Assessed Value: $202,600 Taxable Value: $202,600 State Equalized Value: $202,600 Prev Year Info Prey Year Info MBOR Assessed Final SEV Final Taxable 2022 $188,100 $188,100 $137,932 2021 $177,250 $177,250 $133,526 Land Information Acreage: 10.79 Zoning:
Page 35
Marquette County Equalization Data - Page 3 Legal Description SEC 4 TAGN R26W 10.79 A M/L'S 1/2 OF SE 1/4 OF NW 1/4 EXC THAT PART LYING NE'LY OF C/L OF M-35 & EXC PART BEG 745.31'E OF SW COR THEREOF TH N39DEGW 44.84' TH E 250.97' TO C/L M-35 TH SE'LY ALG C/L 44.84' TH W 250.97' TO POB. Sales Information Sale Date: 07-22-2022 Sale Price: 470000 Instrument: WD Grantor: YUNK LANCE & TAMMY Grantee: MENICHINI CHRISTA Terms of Sale: 03-ARM'S LENGTH Liber/Page: 2022R-07349 Sale Date: 12-20-2002 Sale Price: 18000 Instrument: WD Grantor: Grantee: Terms of Sale: 03-ARM'S LENGTH Liber/Page: 0452:0119 Sale Date: 11-27-1992 Sale Price: 3000 Instrument: WD Grantor: Grantee: Terms of Sale: 03-ARM'S LENGTH Liber/Page: 0387:0361 Sale Date: 10-15-1990 Sale Price: 0 Instrument: WD Grantor: Grantee: Terms of Sale: 03-ARM'S LENGTH Liber/Page: 0378:0367 Building Information
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Marquette County Equalization Data - Page 4 General Information Year Bullt: 0 Style: DEFAULT/Single Family Exterior. Wood Siding Tots! Living Area: [1] Heating Type: Forced Aly w/Ducts Rooms Basement: 4 Rooms 1st Floor: 0 Rooms 2nd Floor [1 Bedrooms: 0 Baths: Full/Half: 1/0 Fireplaces: Quantity - Type Area Detail Height Ground Floor Area Foundation Exterior Basement Finished Areas Recreation; o Living Area: 0 Garage/Carport Information Area Capacity Exterior Type 1320 Siding Detached Porch/Breszeway Information Area ) ) Description Deck Information Area Description DEFAULT/SIngle Family - 2008 General information Year Built: ) 2008 Style: DEFAULT/Single Family Exterior: Wood Siding “Total Living Area: 2940
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Marquette County Equalization Data - Page 5 Rooms 1st Floor: 0 Rooms 2nd Floor: 0 Bedrooms: 0 Baths: Full/Half: 2/0 Fireplaces: Quantity - Type Area Detail Height Ground Floor Area Foundation Exterior 1.75 Story 1680 Basement Siding Basement Finished Areas Recreation; 0 Living Area: 0 Garage/Carport Information Area Capacity Exterior Type Porch/Breezeway Information Area Description 480 Porch WCP (1 Story) Deck Information Area Description Delinquent Tax Information *DOES NOT include unpald taxes on PERSONAL PROPERTY No Records Found Application Use: This map is neither o legally recorded map nor a survey and Is not intended to be used os such. The information on County websites, are and transmitted ‘as Is without warranties of any kind, elther expressed or implied, including viithout imitations, warranties of title or implied warranties of merchantabikly or fitness for a particular purpose. M County does not the or completeness of the information on this webshe. GIS/Mapping: The Geographic Information System (GIS) made avaliable through this website Is developed and maintained by Marquette County. Use of mateiials and information constitutes of alld with these GIS data Is not the afficial record of the County. This data is made available for Information purposes only
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Aerial Map Bomower Benjamin P Evans Properly Address 2946 State Highway M35 City Negaunee County Marquette State Mt Zp Gods _ 49866 Lender/Clisnt __ USAA FSBIVA Google Earth
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Aerial Map Borrower Benjamin P Evans Property Address 2946 State Highway M35 City Negaunee Lender/Client USAA FSB/VA Location Is An Estimate County Marquette State MI Zip Code 49866 Subject 2946 State Highway M35 () Google Bacth
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Plat Map Borrower Benjamin P Evans Property Address 2946 State Highway M35 City Negaunee County uette State MI Zip Code 49866 Lender/Client __USAA FSBIVA RICHMOND (S) T.46N.-R.26W. 16 ly | 7 0 a% N wal JCOP, NA Empire fron Tiden Mining ry Sat Ls “TE men! or Mining Partners | [4 Co. Lc. i 3453 571 Bera x Tider ng o. Lc. 18 Tilden Mining Co.Lc. | Tudenpidng | Co.Le. Tiden Mining Co.lc. 160 i tid} C30) 8: LE [Hera] Ji TR : 5: re a he PHL Jw Tian wn fe Savi a pol
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Location Map Borrower Benjamin P Evans Property Address 2946 State Highway M35 City Negaunee County Marquette State MI Zip Code 49866 Lender/Client USAA FSBIVA Distance of comparable sales location to the subject location should be considered approximate. |.2 la mode, in ol Too edie 31rd esto ery ola Harbor Copper Harbor Bete Grise - | a Linden 4 3 Pe 4 4 As “ - rs | | ™ on COMPARABLE No. 5 Skanen 7398 County Road 550 24.71 miles N Herman COMPARABLE No, 3 327 Pelissier Lake Rd 7.15 miles NE COMPARABLE No. 1 1012 County Road 480 6.96 miles NE Champlan Grand Island — Jshifeming ional Mine COMPARABLE No. 4 219 Lawson Rd SUBJECT ye : 21:03 miles E Shinglaton +c 2946 State Highway M35 Gwinn \ \ COMPARABLE No. 6 COMPARABLE No. 2 1075'S County Road 557 180 E Johnson Lake Rd 12.88 miles SE 11.97 miles SE Rock (yahma Garden
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Comparable Photo Page 1-3 Bomower Benjamin P Evans Property Address 2046 State Highway M35 City Negaunee County Marquette State MI Zip Codo 49866 Lender/Client USAA FSBIVA Comparable 1 1012 County Road 480 1 Proximity ~~ 6.96 miles NE Sale Price 477,000 GLA 2,268 Total Rooms 7 Total Bedrms 4 Total Baths 3.0 Location N;Res;LssRrl View N;Res; Woods Site 6.98 ac Qualty a3 Age 32 Comparable 2 180 E Johnson Lake Rd Proximity 11.97 miles SE Sale Price 402,000 GLA 3,001 Total Rooms 8 Total Bedrms 3 Total Bathms 2.0 Location N;Res LssRil View B;Wtr;Res Site 1.79ac Quality Q4 Age 59 Comparable 3 327 Pelissier Lake Rd Proximity ~~ 7.15 miles NE Sale Price 499,900 GLA 2,023 Total Rooms 5 Total Bedrms 3 Total Bathms 2.0 Location N;Res;LssRrl View N;Res;Woods
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Comparable Photo Page 4-6 Borrower Benjamin P Evans Property Address 2946 State Highway M35 City Negaunee County Marquette Stale MI Tip Code 49866 Lender/Client __USAA FSBIVA Comparable 4 219 Lawson Rd Proximity 21.03 miles E Sale Price 445,000 GLA 2,380 Total Rooms 7 Total Bedrms 4 Total Bathms 3.0 Location N;Res;Rural View N;Pstrl,Wd/Pnd Site 80 ac Quality Q4 Age 22 Comparable 5 7398 County Road 550 Proximity 24.71 miles N Sale Price 449,900 GLA 2,240 Total Rooms 6 Total Bedrms 3 Total Bathms 2.0 Location N;Res;Rural View N;Res;Woods Site 47 ac Quality Q3 Age 17 Comparable 6 1075 S County Road 557 Proximity 12.88 miles SE Sale Price 375,000 GLA 2,484 Total Rooms 7 Total Bedrms 3 Total Bathms 2.1 Location N;Res;Rural View N;Wd;MrshPnd
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29-29-6-0892068 3002841488 Addendum to Fee Appraisers Report: Cleveland RLC Client Requirements VA Case Number: 20.29.6-0892868 Property Address: 2946 State Highway M35 Negaunee, MI 49866 If the report was not completed within the timellngss standards was the Cleveland RLG notified by updating the case notes in WebLGY? Yes J No Commants on timeliness: (if necessary) Wve typically notify the lender when we get the order what the best turn time is. Delay due to Tidewater, On 07/20/2023, the POC contacted the appraiser to notify that no additional sales were going to be provided. VA . . 1. The current sales price to list prics ratio is 00-110 % 2. The current average marketing time for this market is 31-120 days. 3. Comments on the current marketing trend (increasing, declining, or stable} Market conditions affecting fo subject neighborfiood are similar fo those in the gengral aren Finangng is avatsble al affordable rates (re fesent . crease in interas rates there had been some indications that ie market was hacoming stable however, this is off set by the more aglive Summer poe 4. Comments on prevalence of sales or financing concessions to include iffhow they impact the market: In this market area, a typical rebate for financing or sales concessions is 3% - 6% of the sale price. Dollar for dollar adjustments for financing or sales concessions within 3%-6% is in line with the local market's response to these types of concessions and the applied adjustments are reflect the contributory value the concession. 5. VA Certification: “I have considered relevant competitive listings and/or contract offerings In the performance of this appraisal and in the trending information reported in this section. if a trend Is indicated | have attached another addendum providing relevant competitive listing/contract offering data.” 6. Ifthe subject property is served by a well, Is public water avaliable at property fine? Public Not Available Verified by Richmond Township, Phone number 7. Ifthe subject property Is served by a septic, Is public sewer avaliable at property fine? Public Not Available Verified by Richmond Township Phone number 8. Remaining economic life 83 . Do not report as a range of years. It can reflect a plus or minus but nota range, and an explanation Is required if the REL is less than 30 years. 9. Ifthe appraised value was below purchase price, was the “Tidewaler Initiative" (VA circular 26-03-11) followed and explained In the appralsal? URAR Page # Addenda 10. Comments on comparables over 6 months old and/or excessive distance from the subject. See Comments... 11. it the neighborhood section of the appralsal report notes a significant market transition was a listings/ofters addendum provided. Refer to VA Pamphlet 26-7, Chapter 11, section 8 e. iYes 17] No Appraiser's Signature I. Kad for VA Certification Amy K. Rickard . Dale: 07/20/2028 _ 01/20/2012 Form VCRECL - “TOYAL® appraisal software by a fa mode, Inc. - 1-800-ALAMODE
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Borower
Benjamin P Evans
J
File No. 3002841488
Property Address
2946 State Highway M38
N
City
Negaunee
Counly Marquette
__
Sta
M1
Zip Code_49866
Lendei/Client
USAA FSBIVA
APPRAISAL AND REPORT IDENTIFICATION
This Report Is one of the folfowing types:
¢ Appraisal Report
(A written report prepared under Standards Rule
2-2(a)
, pursuant to the Scope of Work, as disclosed elsewhere in this report.)
|") Restricted
(A written report prepared under Standards Rule
2-2(b)
, pursuant to the Scope of Work, as disclosed elsewhere in this report,
Appraisal Report
restricted to the stated intanded use only by the specified client and any other named intended user(s).)
Comments on Standards Rule 2-3
certify that, to the best of my knowledge and belief
- The statements of fact contained in this feport are true and correct.
~The reported analyses, opinions, and conclusions ase inited only by the reported assumplions and limiting conditions and are my personal, impartial, and unbiased professional
analyses, opinions, and conclusions.
- Unless otherwise Indicated, | have rio present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved.
- Unless otherwise indicated, { have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of tvs report within the three-year
period immediately preceding aceeptance of this assignment
~
I have no bias with respect to the property that is the subject of ths report or the parties involved with this assignment.
- My engagement in tis assignment was not contingent pon developing or reporting predetermined resus.
- My compensation for completing this assignment is not contingent upon the development of reporting of a predetermined value of direction in value that favars the cause of the
client, the amount of the value opin, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal.
- My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity wilh the Uniform Standards of Professional Appraisal Practice that
were in effect at the ima this report was prepared.
~ Unless otherwise indicated,
| have made a persona inspection of the property that Is the subject of his report.
- Unless otherwise indicated, no ane provided significant real property appraisal assistance to the person(s) signing this certification (if there are exceptions, the name of each
Individual proviging significant real property appraisal assistanc Is stated elsewmiere In this repor).
Reasonable Exposure Time
{USPAP defings Expose Tima as the estimated length of time that the groperty Interest being
appraised would hava been offered on the market prior to the hypothetical consummation of a Sale at market value on the effective date of the appraisal)
My Opinion of Reasonable Exposure Time for the subject property at the market value stated in this report is:
3
hypothetical consummation of a sale at market value on the effective date of the appraisal. Exposure time is a refrospective opinion based
on an analysis of past events assuming a competitive and open market.
Comments on Appraisal and Report Identification
Note any USPAP-related issues requiring disclosure and any state mandated requirements:Page 46
Appraiser Qualifications Swanson, Me rolsr & Hasodiates, N72 Slate Licensed and Certified Real Estate Appraisers Charles M. Swanson, MA, SRA, Cetifled General Appralser Midtown Office Center Lorl A. Mercler, Certified General Appraiser 1229 W. Washington St. Amy K. Rickard, Certified Residential Appraiser Marquette, MI 49855 Brlan J. Dobos, Certified Residential Appraiser Tel: 806-228-9634 Fax: 908-228-9644 admin swansonmercier.com www.swansonmercierappraisal.com QUALIFICATIONS Amy K. Rickard EDUCATION H ’s Real Real Estate Appraisal “Two” — January 2003 Real Estate Appraisal “One” -February 2003 Uniform Standards of Professional Appraisal Practice — May 2003 Appraisal Institute Appraisal Procedures 120 — May 2004 The Professional Guide to the URAR — May 2005 MeKissock Learning REO & Foreclosures Construction Details & Trends Divorce and Estate Appraisals: Elements of Non-Lender Work Introduction to Expert Witness Testimony for Appraisers: To Do or Not to Do Supervisor-Trainee Course for Michigan Fvaluations, Desktops, and Other Limited Scope Appraisals Supporting Your Adjustments: Methods for Residential Appraisers USPAP Update Course ANSI PROFESSIONAL ORGANIZATIONS Upper Peninsula Association of Realtors Michigan Associntion of Realtors National Association of Realtors LICENSE Michigan State Certified Residential Real Estate Appraiser (#1204070216) SPECIALIZED CREDENTIALS FHA Roster Appraiser VA Affiliate Appraiser #5 EXPERIENCE Swanson, Mercier & Associates, Inc. Michigan State Licensed Limited Real Estate Appraiser June 2003 — October 2004 Michigan State Licensed Real Estate Appraiser October 2004 — September 2007
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Appraiser License aarvomy wings psn STATE OF MICHIGAN DEPARTHENT OF LICENSING AND REGULATORY AFFAIRS BUREAU OF PROFESSIONAL LICENSING CERTIFIED RESIDENTIAL REAL ESTATE APPRAISER LICENSE AMY KATHERINE RICKARD sor wn , ) es soviet bint wigan CIIRATION TATE EEA Ns or 773/204 PRIME
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RECEIVED STATE OF MICHIGAN AUG 11 2025 MICHIGAN TAX TRIBUNAL MICHIGAN TAX TRIBUNAL Benjamin Evans, Petitioner, Vv. Richmond Township, Respondent. Case No.24-003565-TT PROOF OF SERVICE I, Benjamin Evans, state that on 8-7-2025, I served a copy of the following document: Petitioner’s Reply to Respondent’s Response upon the Respondent in the above-captioned matter by: [J First-Class U.S. Mail [J Certified Mail (Receipt No.: ) OJ Personal Delivery x Email via richmondtownshipassessor@gmail.com In reply to the townships service of me Service was made to the following address: I declare that the statements above are true to the best of my information, knowledge, and belief. Signature: 7 ¢.. Printed Name: Benjamin Evans Address: 2946 State Highway M35
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