Case_26-000682_Appraisal_Joanne R Kemp.pdf

Joanne R Kemp Petitioner V Township Of Grass Lake Respondent · 26-000682-TT

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Page 1

Docket # 26-000682

- 

Docket # 26-000682 

20250523-1567-1 

Uniform Residential Appraisal Report 

Fed 

2784Kal 

re oes TT 

Sma appeal (Epon 

To prove Te nde cio ih a accurate, od adequately supported, opicn of the ariel value of he subject property. 

Property Address 2794 Kalmbach Rd 

B 

Gly Grass Lake 

_ 

Sate MI 

Zip Code 49240 

“Bomower_Joanne Kemp 

: 

Owner of Public Record_Cory 

& Lauren Kirkpatrick 

County Jackson 

Nn 

“Legal Desorption. See Attached Addendum 

oo 

pssessors Parcel 

#_D00-10-26-101-001-13 

oo 

CTT 

Maem 2024 

RETaes 067 

oo] 

$ “Neighborhood Name_Grass Lake Township 

B 

Vap Reference MSAMD 

Census Tract 0068.04 

) 

“coowpant_ 

OKI0wner [Tenant 

[Vacant 

Special scesomonts$ 0 

_ 

[Jperyear 

L 

permonty 

| Property 

Rights Appraised 

XIFee Simple 

[Leasehold Other (describe) 

E Assignment Type 

_[XiPurchase Transaction 

Refinance Transaction 

[10ther {desarbe) 

} 

_ 

C LonderiClient Huntington National Bank 

Address 44 South High St, Columbus, OH 43287 

i boen offeced 

for sale nthe twelve months prior 0 the effective cate of tis appraisal? 

(5), and date(s}, 

1 

did 

(LJ did not analyze the contract for sale for the subject purchase ‘fransaction. Explain the results of the analysis "of the contract for sale or why the analysis was not performed. 

< 

Arms length saleA capy of the purchase agreement was provided to the appraiser. 

It indicated a sale price of $545,000 with noted concessions. 

" “Coniract Price § 545000 

Date of Contract G8ia1150%5 

he property seller the owner of publi record? 

Xlves [No Data Source(s) 

PA & Tax Record 

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

x] Yes J No 

Tf Yes, report he total dollr amount and describe the fem tobe paid, 

C 

$5000; The purchase agreement supplied to this appraiser states "Seller to contribute $5,000 towards buyers closing costs, pre-paids, and or points". 

T 

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

Neighborhood Characteristics 

One-U 

ent Land Use % 

One-Linit Housing 

} 

Pe 

on BE Fu 

propery Values [lnreasing | 

Tloedning. 

PRCE 

AGE 

Onednt 

58% 

uitlp 

| Over 75% [%] 25-75% 

[J Under25% 

| Demand/Supply 

[shortage 

1X] In Balance []Over Supply 

| 

$000) 

(yrs) 

24Unit 

3% 

! coun [Rpg IK] siable 

lng Time 

(Jurcer3mns D]36mbe 

(lowrombs 

50 

Low 0 

Wibfanly 3% 

© “Neighborhood Boundaries 

- 

| 

123s 

High 

185 

Commercial 

12 % 

B 

The subject is sited North of Sharon Valley Rd, East of Gilletts Lake Rd, South of Hwy I-94, and West of Hwy M52. 

24 

Pred. 

5 

Other Other 

24 % 

0 Neighborhood Description 

oT 

i 

The subject is sited in a fairly well maintained neighborhaod in Grass Lake Township. The homes in the area are average quality and a mixture of style and values. Local shopping 

is within 

1 mile. Schools and recreational activities are considered average for the area. 

0 

0 

D Market Condifons (including support for the above conclusions) 

See Attached Addendum 

y Rectangular __ View NiRes 

Cregular 

] 

Mea 35480 

Shape N 

“Specific 

Zoning Classification AG 

} 

Zoning Description. Agricultural 

Zoning Compliance 

XlLegal [] Legal Nonconforming (Grandfathered Use) 

[TINo Zoning {1 egal (descrioe) 

i} 

1s the highest and best use of subject property as improved (or as proposed per plans and specications) the present use? 

Yes [JNo 

If No, desarive. 

See Attached Addendum 

ij 

j 

) 

i 

s 

Utiifies 

Public Other (describe) 

___ 

Public_Ofher (describe) 

Off-site Improvements 

Type. 

Public 

Private 

| 

Eecticty 

XL] 

BN 

Water 

LU] 

D6 

private weil 

Street 

Asphalt 

xi 

T Gas 

OC 

poas 

Sanitary Sewer [1X 

PrvateSeptic Mey Nene 

ean 

E” FEMA Special Flood Hazard Area 

[1 Yes (XINo 

FEMA Flood Zone X 

FEMA Map # 26075C02500 

FEMA Map Date 05/037 

Ace the ullties and off-site Improvements typical for the market area? 

(Yes {No IfNo, describe. 

‘Are thera any adverse site conditions or extemal factors (easements, encroachments, environmental conditions, land Uses, etc)? 

1 Yes (XT No If Yes, describe. 

See attached addendum. 

General Description 

= 

Foundation 

materials/condition 

Interior 

_matérials/condition 

Units 

BE} One LJ One with Accessory 

Unit 

| [X] Concrete 

Slab 

[1] Craw Spc 

Congrete/Gd 

“Fes 

wveied 

“# of Stories 

1 

IT Full Basement 

[X] Partial Base 

TVinylave. 

[Was 

DrywaliGd 

3 

Basement Area 

966 sq. . 

_AsphaltGd 

TimFinish 

__ Wood/Gd 

| 

) Basement Finish 

_ 

0% 

Downspouts Alurminum/Gd_____ 

[Bath Floor 

CTile/Gd 

Design (Style) Ranch 

£7 Outside EntiyfExit___ [1 Sump Pump_ 

[Window Type 

Csmt&DHIGd 

Bath Wainscot_Tile,Fiber/Gd 

Year Built 2024 

Evidence of 

[ iinfestation 

Storm Sashvinsulated_ Storms/Gd 

_carstorage 

Clone 

|" Effective 

Age (Yrs) 

1 

[1 Dampness 

[] Settlement 

Screens 

Yes/Gd 

[X] 

Driveway 

#of Cars 

10 

Ac 

[] None 

Heating 

[X] FWA [] HWBB [X] Radiant |Amenities 

[ WoodStove(s) # 0 

[Driveway Surface Cravel 

R 

ClDopstary 

 Clsars 

| 

[Joter 

Trul Ges 

|ClFireplaceisi# 

0 

[Fence None 

X] Garage 

#ofCars 

0 

[7] Floor 

[X] Scuttle 

Cooling 

[X] Central 

Air Conditioning 

[x] Patio/Deck 

Patio 

(K] Porch 

Covered 

1) 

Carport 

#of Cars 

[4 

v [J Finished 

[1 Heated 

[7 Indvidual___| 

[] Qther None 

[Pool 

None 

[other 

None 

x] at 

[J pet 

[]Builtin 

W Appliances 

[] Refrigerator 

[1] RangeiOven 

[K] Dishwasher 

7] Dispusal 

L] Microwave [| Washer/Dryer 

[K] Other (describe) Hood fan 

E Finished area above grade contains: 

6 Rooms 

3 Bedrooms 

2.1 Bath(s) 

2822 Square Feet 

of Gross Living Area Above Grade 

 Acdiional features (special energy efficient fem, ete) 

5 

Including, but not limited to:Large primary suite, pantry off the Kitchen, first floor laundry, in flea radiant heat in addition to a forced air system, large covered porch and patio, energy 

efficient water heater, windows and furnace. 

Describe th condiion of he properly {indluding needed repairs, deferioration, rencvaons, remodoling, ele). 

C2:No updates in the prior 15 years;Thers were no functional or physical inadequacies noted. As this is a new construction, there are no updates. 

“Are hore any physical deficiencies or adverse conditions thet affect th fivabifty, soundness, or structural inet of ine property? 

"les BNo 

if Yes, describe 

Yes []No_IfNo, describe 

Freddi Mac Form 70_ March 2005 

UAD Version 972011 

Page 015 

Fane Mae Form 1004 March 2005 

eady

Page 2

Uniform Residential Appraisal Report 

20250523-1567- 1 

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

There were no listings or sales of the subject and comparables other than the ones reported. 

File 

#t_2794Kal 

There are 

© 

comparable properties cumenty offered for sale in the subject neighborhood ranging In price from 

$ 429000 

fo§ 

64031 

sThere sre 

24 

comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ 405000 

to$ 649900 

FEATURE 

SUBJECT 

COMPARABLE SALE #1 

COMPARABLE SALE #2 

Nn 

COMPARABLE SALE #3 

Address 

2794 Kalmbach Rd 

12412 Bohne Rd 

10985 Phal Rd 

9019 Hillview Ln 

Grass Lake, MI 49240 

Grass Lake, M| 49240 

Grass Lake, MI 49240 

Jackson, MI 49201 

Proximity to Subject 

10.81 miles NW 

4.11 miles SW 

4.58 miles SW 

Sale Price 

3 

545000 

§_ 

aaas0 

$s 

sssooo 

5 

Sale Price/Gross Liv. Area 

© $ 

193.13 

sqft 

| $ 

25360 

sqft. 

| 

$ 

30757 

sqft | 

is 

240.55 

sqft. 

DataSource(s) 

i 

 RSMLS#60378522:00M 5 

RSMLS#70411017,.00M 92 

RSMLS#G0379867.00M 2 

ol 

Verfication Source(s) 

| 

Assessor 

Assessor 

VALUE ADJUSTMENTS 

"DESCRIPTION 

+(}$ Adjustment, 

DESCRIPTION 

1+ 

Adusimenl 

DESCRIPTION. 

I* (-1$ Adjustment 

Sale or Financing 

Ammlth 

AmLth 

Concessions 

i 

Convo 

oo 

Convio 

DateofSaleTme 

LL 

S04/25:00325 

__ 509/24:c00/24 

11700 | 504/26:c09/25 

_ 

Location 

NiRes; 

___iNRes; 

NiRes; 

NiRes: 

i. 

asehold/Fes Simple 

Fee Simple 

Fee Simple 

Fee Simple 

Fee Simple 

i 

Ste 

354ac 

23ac 

5400 

| 2ac 

8000 

3.16 4c 

_ 

2000 

View 

NiRes: 

NiRes; 

I 

NRes: 

NiRes; 

_ 

H Design (Style) 

DT{Ranch 

DT1:Ranch 

_ DT%Ranch 

* DTtRanch 

L Quality of Construction 

| 03 

[-%) 

40000 

03 

a4 

40000 

E 

Actual Age 

1 

21 

11000 . 

1 

24 

12700 

S$ 

Condition 

c2 

cs 

25000 | C1 

-5000 

C3 

25000 

c 

Above Grade 

Total 

| Bdrms. ‘Baths . Total 

_Bdrms, | Baths 

Total 

Bdms. 

| Baths 

Total 

Bdms.. 

Baths 

0 Room Count 

6 

3 

21 

6 

3 

290 

7300 

7 

3 

21 

0.6 

3 

20 

| 

7300 

M. 

Gross Living Area 2822 

sqft. 

11752 

sq.ft. 

57800 

. 1902 

sq.ft. 

49760 

2037 

50.1. 

42400 

Basement & Finished 

966sf0sfin 

Co 17s2si7Estn 

-25200 | 19025f17025fwo 

“50000 © 2037sf1850sfin 

34300 

r Rooms Below Grade 

1re3br1.Obalo 

30000 

1rrtbrt.Qbato 

-30000 ; 1rribri.Obato 

25000 

| 

Functional Utility 

Average 

Average 

| 

Average. 

___ Average 

BN 

$! Heating/Cooling 

| FwArRad Ciair 

FWA CiAir 

o 

FWA CiAIr 

FWA CIAIr 

0 

N Energy Efficient ltems 

Window Furnace 

None 

5000 . Window Furnace 

 Fumace 

3000 

Garage/Carport 

2ga10dw 

2gat0dw 

3gat0dw 

20000 

2ga10dw 

i 

A PorchiPatiofDeck 

CPch Patio 

CPch,Deck 

2000 | Stoop,Pat Deck 

2000 | CPch,Decks 

[ 

P Extras 

No FP 

Ria 

5000 1FP 

Sooo | TEP 

-5000 

PEs 

None 

Bam 

25000 

Nore 

Fence 

1000 

© Original List Price 

$669,000 

| $435000 

0 

$589,000 

0 

$490,000 

0 

A 

Net Adjustment (Total) 

de 

[0-5 

129900 

O« 

bW- 

s 

38600 

bel 

[1- 

5 

67100 

© Adjusted Sale Price 

Net Ad]. 

201 9% 

Net Adj. 

66% 

Net Ad. 

137 % 

of Comparables 

Gross Adj. 

540 % 

$ 

573600 | Gross Ad). 

31.0 % 

§ 

546400 

Gross Adj. 

40.3 % 

3 

§57100 

1. [J did [1 did not research the sale or transfer history of the subject praperty and comparable sales. If not, explain 

My research 

[1 did [3] id not reveal any prior sales or transfers of the subject property for the thee years prior to the effective date of tis appraisal. 

Data source(s) 

Public Records 

Myresearch 

[1 did [x] did not reveal any prior sales or transfers of the comparable sales for he year prior o the date of sale of the comparable sale. 

N 

Data source(s) 

Public Records, Local MLS 

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

ITEM 

SUBJECT 

COMPARABLE SALE #1 

COMPARABLE SALE #2 

COMPARABLE SALE #3 

Date of Prior Sale/Transfer 

— 

TT 

Price of Prior Sale/Transfer 

i 

! 

Data Source 

; Assessor 

Assessor 

i Assessor 

i Assessor 

Effective Date of Data Source(s) 

| 05/26/2025 

05/26/2025 

1.05/26/2025 

! 05/26/2025 

Summary of Sales Comparison Approach 

See attached addendum. 

Indicated Value by Sales Comparison Approach § 550000 

Income Approach (if developed) § 0 

Indicated Value by: Sales Comparison Approach § 550000 

Cost Approach (if developed) $ 634200 

E 

The market comparisan approach is relied upon most heavily and checked by the cost approach. The income approach was not developed because it was not considered 

C necessary 

for credible assignment results, given the intended use of the appraisal 

This appraisal is made 

(X] “as is," 

|.) subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have beon 

completed, 

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

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

S=OF-F=6Zo 

Based on a comglete visual Inspection of the interior and exterior areas of the subject property, defined scape of work, statement of assumptions and limiting 

ditions, and appraiser's certification, my {our) opinion of the market value, as defined, of the real property that is the subject of this report is 

asof 

05/26/2025 

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

UAD Version 9/2011 

Page 20f 6 

AlReady 

con 

$ 550000 

Freddie Mac Form 70 

March 2005 

Fannie Mae Form 1004 

March 2005

Page 3

20250523-1567-1

Uniform Residential Appraisal Report

Filed

2794Kal

GHEZMEEOD

FrPEB-d-05 x

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

No employee, director, officer, or agent of the lender or any other third party acting as a joint venture partner, independent contractor, appraisal management company, or partner on

behalf of the lender has influenced or attempted to influence the development, reporting, result, or review of this assignment through coercian, extartion, collusion, compensation,

instruction, inducement, intimidation, bribery or in any other manner.

| have not been contacted by anyone other than the intended user {lendericlient as identified on the first page

of the report) borrower, or designated contact to make an appointment to enter the property. The engaged appraiser acknowledges a full understanding of the competency provision

and the ethics provision set forth in USPAP.

FIRREA Certification Statement: The appraiser certifies and agrees that this appraisal was prepared in accordance with the requirements of Tille XI of the Financial Institutions,

Reform, Recovery, and Enforcement

Act (FIRREA} of 1989, as amended (12 U.S.C. 3331 et seq.), and any applicable implementing regulations in effect at the time the appraiser

signs the appraisal certification.

The appraiser has extensive knowledge of the subject's market.

Alt utilities were on and operable at the time of appraisal.

COST APPROACH TO VALUE {not required by Fannie Mae}

)

The site value is based on similar land sales in the subject's market

ESTIMATED

[]REPRODUCTION OR

[X] REPLACEMENT COST NEW

OPINION OF SITE VALUE

54000

Source of cost data Marshall/Swift. Local Builders.

Dweling

2822

Sq.FL@%

159.07

448895

Quality rating from cost service Average

Effective date of cost data 2021

Bsmt:966 SqFL@

44.53

p Comments

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

Misc. Improvements

3¢

Miscellaneous improvements include built-ins, decks, porches, outbuildings and in-ground |

_Garage/Carport

966.400” Sq.Ft @$

51.69

49933

9 pac.

Total Estimate of Gost-New .

576845

Less

Physical , Functional

Extemal

Depreciation 9514

9614)

Depreciated Cost of Improvements

£87234

“Asis” Value of Site Improvements

13000

Estimated Remaining Economic Life (HUD and VA only)

59 Years

indicated Value by Cost Approach...

=§

634200

INCOME APPROACH TO VALUE {not required by Fannie Mae}

Estimated Monthly Market Rent $

X Gross Rent Multiplier

Indicated Value by Income Approach

PROJECT INFORMATION FOR PUDs (if applicable)

Is the developerfbuider in control of the Homeowners’ Assodiation (HOA)?

[O¥es [INo

Unittype(s)

[1 Detached

[] Attached

Provide the folowing information for PUD ONLY ifthe developerfouikder is in control of the HOA and the subject property is an attached dwelling uri.

Legal Name of Project

Total number of phases

Total number

of units

Total number of units sold

Total number of units rented

Total number

of units for sale

Datasourcefs)

M Was the project created by the conversion of existing bullding(s) nto a PUD?

[ves [No If Yes, date of conversion

Does the project contain any muli-cwelling urits?

[ves

[No Datasoucels)

Are the units, common elements, and recreation falities complete?

[Yes [] No

IfNo, describe the status

of completion.

—

Are the common siemens eased t or by he Homeowners Association?

C1 Yes [1

No_If Yes, describe the rental torms and options.

"Describe common elements and recreational facies

Freddie Mac Form 70

March 2005

UAD Version 9/2011

Page 30f6

Fannie Mas Form 1004

March 2005

AlReady

Page 4

20250523-1567-1

Uniform Residential Appraisal Report

Fle#

2704Kal

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

in a planned unit development (PUD). This report form is not designed to report an appraisal of a manufactured home or a unit in a

condominium or cooperative project.

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

assumptions and limiting conditions, and certifications. 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 scape of work to

include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions

to the certifications are also not permitted. However, additional certifications that do not constitute material alterations to this appraisal

report, such as those required by law or those related to the appraiser's continuing education or membership in an appraisal

organization, are 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, statement of assumptions and limiting

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 lender/client.

DEFINITION OF MARKET VALUE: The mast probable price which a property should bring in a competitive and open market under all

conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by

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

under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each

acting in what he or she considers his or her own best interest; (3) a reasanable time is allowed for exposure in the open market; 4)

payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (5) the price

represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by

anyone associated with the sale.

“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 law in a market area; these costs are readily identifiable

since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the

comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the

property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession

but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the

appraiser's judgment.

STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's 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 property being appraised or the title to it,

except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser

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

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

included only to assist the reader in visualizing the property and understanding the appraiser's determination of its size.

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

data sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified Special Flood

Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this

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 property or that he or she became aware of

during the research involved in performing this appraisal. Unless otherwise stated in this 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, adverse environmental conditions, etc.) that would make

the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or

implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be

required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, this

appraisal report must not be considered as an environmental assessment of the property.

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

completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will be performed

in a professional manner.

Freddie Mac Form 70

March 2005

UAD Version 9/2011

Pages EL 6

Fannie Mae Form 1004

March 2005

Page 5

20250523-1567-1

Uniform Residential Appraisal Report

Fio# pl

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

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

appraisal report.

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

| reported the condition of the

improvements in factual, specific terms.

| identified and reported the physical deficiencies that could affect the livability, soundness, or

structural integrity of the property.

| performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were

adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this

appraisal report was prepared.

| developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison

approach to value.

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

assignment.

{ further certify that

1 considered the cost and income approaches to value but did not develop them, unless otherwise

indicated in this report.

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

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

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

| 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.

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

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

been built or will be built on the land.

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

property and the comparable sales.

10.1 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 property.

11.

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

12. 1am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listing services,

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

13.

| obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from reliable

sources that

| believe to be true and correct.

14.

| 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

| 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.

15.

| have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge. all statements

and information in this appraisal report are true and correct.

16.

| stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject

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

17.

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

| have no present or prospective

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

| did not base, either partially or completely, my analysis

and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or

national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the

properties in the vicinity of the subject property or on any other basis prohibited by law.

18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned on

any agreement or understanding, written or otherwise, that

I 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 party, or the attainment of a

specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application).

19.

| personally prepared alf conclusions and opinions about the real estate that were set forth in this appraisal report. If | relied on

significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the preparation of

this appraisal report,

| have named such individual(s) and disclosed the specific tasks performed in this appraisal report.

| certify that

any individual so named is qualified to perform the tasks.

| have not authorized anyone to make a change to any item in this appraisal

report; therefore, any change made to this appraisal is unauthorized and

I will take no responsibility for it.

20.

| identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization that ordered and

will receive this appraisal report.

Freddie Mac Form 70 March 2005

UAD Version 9/2011

Page 5 oie

Fannie Mag Form 1004

March 2005

eady

Page 6

. 

. 

. 

. 

20250523-1567-1 

Uniform Residential Appraisal Report 

fio 

2794Kal 

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

mortgagee or its successors and assigns; mortgage insurers; govemment sponsored enterprises; ather secondary market participants; 

data collection or reporting services; professional appraisal organizations; any department, agency, or instrumentality of the United 

States; and any state, the District of Columbia, or other jurisdictions; without having to obtain the appraiser's or supervisory appraiser's 

(if applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party 

(including, but not limited to, the public through advertising, public relations, news, sales, or other media). 

22. 

| 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 at the request of the borrower, the mortgagee or ifs successors and assigns, mortgage insurers, 

government sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any mortgage 

finance transaction that involves any one or more of these parties. 

24. It this appraisal report was transmitted as an "electronic record” containing my "electronic signature," as those terms are defined in 

applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report 

containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if 

a paper 

version of this appraisal report were delivered containing my original hand written signature. 

25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/or criminal penalties 

including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 1001, et seq., or 

similar state laws. 

SUPERVISORY APPRAISERS CERTIFICATION: The Supervisory Appraiser certifies and agrees that: 

1. 

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

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

2. [accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions, 

statements, conclusions, and the appraiser's certification. 

3. The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser (or the 

appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law. 

4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by 

the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 

5. If this appraisal report was transmitted as an "electronic record" containing my “electronic signature,” as those terms are defined in 

applicable federal and/or state laws {excluding audio and video recordings), or a facsimile transmission of this appraisal report 

containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper 

version of this appraisal report were delivered containing my original hand written signature. 

iY 

| 

SUPERVISORY APPRAISER (ONLY IF REQUIRED) 

Signal 

Signature 

Name 

Sarah Martin 

Name 

Company Name 

Martin Appraisals LLC 

Company Name 

Company Address 

PO Box 773 

Company Address 

Michigan Center 

ML 

49254-0773 

\ 

Telephone Number 

517-795-3610 

Telephone Number 

Email Address 

_martin.sarahrose@gmail.com 

Emall Address 

Date of Signature and Report 05/30/2025 

Date of Signature 

Effective Date of Appraisal 

05/26/2025 

State Certification # 

State Certification # 1204075688 

or State License # 

or State License # 

State 

or Other (describe) 

State # 

Expiration Date of Certification or License 

State 

m1 

Expiration Date of Certification or License 07/31/2026 

SUBJECT PROPERTY 

ADDRESS OF PROPERTY APPRAISED 

C1 Did not inspect subject property 

2794 Kalmbach Rd 

[3 Did inspect exterior of subject property from street 

Grass Lake 

Mr 

49240 

Date of Inspection 

APPRAISED VALUE OF SUBJECT PROPERTY § 

_550000 

[1 Did inspect interior and exterior of subject property 

LENDER/CLIENT 

Date of Inspection 

Name 

No AIC 

COMPARABLE SALES 

Company Name 

Huntington National Bank 

Company Address 

41 South High St 

Columbus 

, OH _ 43287 

Email Address 

Date of Inspection 

UJ Did not inspect exterior of comparable sales from street 

[1 Did inspect exterior of comparable sales from street 

Freddie Mac Form 70 March 2005 

UAD Version 9/2011 

Pogo o 3 

Fannie Mae Form 1004 

March 2005 

eady

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