huhn appraisal (2).pdf
David Chester Huhn, Petitioner V Township Of Sunfield, Respondent · 26-000382-TT
Text extracted from the reviewed PDF, organized by page. OCR and reading order may contain errors; confirm details in the PDF below.
Page 1
ValueTec Appraisal Services, Inc. 9500071872 Uniform Residential Appraisal Report File No. CCU15D25R1 The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property. Property Address 7313 W Mount Hope Hwy City Mulliken State Ml Zip Code 48861-9626 Borrower David Huhn Owner of Public Record David Huhn County Eaton Legal Description See Attached Addendum Assessor's Parcel # 010-026-200-015-00 Tax Year 2024 RE. Taxes $ 812 Neighborhood Name Sunfield Twp Map Reference 26045C0175E Census Tract 0207.00 Occupant owner [ JTenant [J vacant Special Assessments $ 0 [Jpup HOAs 0 [Jperyear [Jper month Property Rights Appraised Fee Simple OJ Leasehold [ Other (describe) Assignment Type OJ Purchase Transaction Refinance Transaction J Other (describe) Lender/Client Consumers Credit Union Address 7200 Elm Valley Drive, Kalamazoo, MI 49009 Is the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal? [] Yes No Report data source(s) used, offering price(s), and date(s). Per Realcomp the subject is not nor has been listed within the preceeding 12 months of the date of the appraisal. 1 UJ did J 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 analysis was not performed. I. 2 Contract Price $ Date of Contract Is the property seller the owner of public record? [] Yes J No Data Source(s) 1 is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower? UJ Yes J No 8 If Yes, report the total dollar amount and describe the items to be paid. Note: Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood Characteristics One-UnitHousing Trends One-Unit Housing Present Land Use % Location [lB] Urban J] Suburban Rural Property Values [I] Increasing Stable [I] Declining PRICE AGE One-Unit 60 % Built-Up J Over 75% 5-75% J Under 25% | Demand/Supply Shortage J In Balance [Jover Supply | $(000) (yrs) 2-4 Unit % [5] Growth J Rapid table J Slow Marketing Time Under 3 mths [] 3-6 mths J Over 6 mths 109 Low 0 | Multi-Family % #3 Neighborhood Boundaries 1-96 to the North, M-100 to the East, M-79 to the South and M-43 to the 359 High 165 | Commercial % f°] West. 250 Pred. 40 | other Vacant 40 % 5] Neighborhood Description The subject is located in Sunfield Township within Eaton County. The subject neighborhood contains single family units and vacant land consisting of wooded and unimproved lots. Commercial property is mainly located along major arteries and does not negatively affect the subject. Market Conditions (including support for the above conclusions) Statistical evidence shows that the subject's market has stabilized with current active listing inventory are in balance with demand. The amount of REO sales have stabilized within the subject's neighborhood. Dimensions 178 x378 Area 1.51 ac Shape Polygonal View A;Res;BsyRd Specific Zoning Classification LA Zoning Description Limited Agriculture Permits Single Family Residential Zoning Compliance Legal [lB] Legal Nonconforming (Grandfathered Use) [I] No Zoning [I] Illegal (describe) Is the highest and best use of the subject property as improved (or as proposed per plans and specifications) the present use? Yes UJ No If No, describe. See Attached Addendum Utilities Public Other (describe) Public Other (describe) Off-site Improvements—Type Public Private Electricity J Water Well Typical Street Paved J 4] Gas [] Propane Sanitary Sewer [] Septic/Typical Alley None [] [] FEMA Special Flood Hazard Area [ves No FEMA Flood Zone X FEMA Map # 26045C0175E FEMA Map Date 11/26/2010 If No, describe. XJ ves [Ino Are the utilities and off-site improvements typical for the market area? Are there any adverse site conditions or extemal factors (easements, encroachments, environmental conditions, land uses, etc)? Yes [1] No If Yes, describe. See Attached Addendum GENERAL DESCRIPTION FOUNDATION EXTERIOR DESCRIPTION materials/condition | INTERIOR materials/condition Units One J One with Accessory Unit Concrete Slab [I] Crawl Space Foundation Walls Concrete/New Floors Concrete/New #of Stories 1 [B] Full Basement [IB] Partial Basement | Exterior Walls Metal/Good Walls Drywall/New Type (XJpet. [Jat [Js-Det/End unit] Basement Area 0 sq. ft. | Roof Surface Metal/Good Trim/Finish _ Drywall/New ([Jexisting (Proposed Under Const. | Basement Finish 0 % | Gutters & Downspouts None Bath Floor Concrete/New Design (Style) Barndominium (Joutside Entry/Exit OJ Sump Pump | Window Type VDH/Good Bath Wainscot_Fiberglass/New Year Built 2025 Evidence of J Infestation Storm Sash/Insulated Insulation/Good Car Storage J None Effective Age (Yrs) 0 [] Dampness [] Settlement Screens Mesh/Good Driveway #of Cars 4 Attic None Heating FWA 10] HWBB I J Radiant | Amenities J WoodStove(s) #0 iveway Surface Gravel UJ Drop Stair [J stairs [Jother | Fuel Propane J Fireplace(s) # 0 [lB] Fence None Garage #of Cars 3 J Floor [J scuttle Cooling (XJ central Air Conditioning Patio/Deck None (XJ Porch Covered Carport #ofCars 0 [] Finished [] Heated Individual J Other Pool None Other None [1] Det [I] Built-in [= Appliances Refrigerator x] Range/Oven Dishwasher [lB] Disposal [J microwave [J washer/Dryer [IB] Other (describe) [=| Finished area above grade contains: 5 Rooms 2 Bedrooms 1.0 Bath(s) 1,600 Square Feet of Gross Living Area Above Grade [4 Additional features (special energy efficient items, etc.). The subject has energy efficient items typical for the market. The appraiser has measured the e subject and calculated the GLA based on ANSI® Z765-2021 standards. < Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc). ~~ C2;No updates in the prior 15 years;The subject is in Freddie Mac Form 70 March 2005 average condition with a functional floor plan. All utilities were on and functional at the time of inspection. Primary bathroom was not completed at the time of inspection with a cost to cure of $1,000. Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? OJ Yes No If Yes, describe. The subject property appears to be in average condition with no adverse conditions or physical deficiencies that affect the livability, soundness or structural integrity of the property. Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? Yes J No If No, describe. UAD Version 9/2011 Produced using ACI software, 800.234 8727 wun. acivweb.com Page 1 age 10f 6 Fannie Mae Form 1004 March 2005 1004_05UAD 12182015
Page 2
ValueTec Appraisal Services, Inc.
Uniform Residential Appraisal Report
9500071872
File No. CCU15D25R1
There are
O
comparable properties currently offered for sale in the subject neighborhood ranging in price roms
0
tos
0
There are
8
comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $
164,500
to$
295,000
FEATURE
|
SUBJECT
COMPARABLE SALE NO. 1
COMPARABLE SALE NO. 2
COMPARABLE SALE NO. 3
7313 W Mount Hope Hwy
5726 Joshua Dr
11892 S M 43 Hwy
4371 Byrum Rd
Address Mulliken, MI 48861-9626
Eaton Rapids, MI 48827-7007 | Delton, MI 49046-9415
Onondaga, MI 49264-9716
Proximity to Subject
16.87 miles SE
27.52 miles SW
29.61 miles SE
Sale Price
$
42,000
$
295,000
$
240,500
$
225,000
Sale Price/Gross
Liv. Area | $
26.25 sq.ft.
[$230.47 sq.ft.
$s
196.01
sq.ft
$
175.78 sq.ft.
Data Source(s)
Rlcmp #55025023221;DO0M 35 | Ricmp #65024061747,D00M 105
Ricmp #630000283491;,DOM 19
Verification Source(s)
Eaton Co. Assessor
Barry County Assessor
Ingham County Assessor
VALUE ADJUSTMENTS
DESCRIPTION
DESCRIPTION
+() $ Adjustment
DESCRIPTION
+() $ Adustment
DESCRIPTION
+() $ Adjustment
Sale or Financing
ArmLth
ArmLth
ArmLth
Concessions
Conv;0
0
|FHA;0
0|Conv;0
0
Date of Sale/Time
s06/25;c05/25
0 [s05/25;c03/25
0s12/24;c10/24
0
Location
N;Res;
N;Res;
N;Res;
N;Res;
Leasehold/Fee Simple
Fee Simple
Fee Simple
Fee Simple
Fee Simple
Site
1.51 ac
2.23 ac
-2,200
[1.80 ac
-900{1.00 ac
1,500
View
A;Res;BsyRd
N;Res;
-5,900 | A;Res;BsyRd
N;Res;
-4,500
Design (Style)
DT1;Barndo
DT1;Ranch
-5,900 | DT1;Ranch
-4,810|DT1;Ranch
-4,500
Quality of Construction
Q4
Q4
Q4
Q4
Actual Age
0
2
01
0[2
0
Condition
C2
C2
C1
-4,810|C3
4,500
Above Grade
Total | Bdrms|
Baths
Total | Bdrms|
Baths
-4,000 | Total
[Bams|
Baths
-4,000 | Total
|Bdrms]
Baths
Room Count
512
1.0
63
2.0
-4,000|
5
|3
2.0
-4,000|
5]
2
1.0
0
Gross Living Area 24
1,600 sq.ft.
1,280 sq.ft.
7,700
1,227 sq.ft.
9,000
1,280 sq. ft.
7,700
Basement & Finished
Osf
Osf
Osf
Osf
Rooms Below Grade
Functional Utility
Functional
Functional
Functional
Functional
Heating/Cooling
FA/CAC
FA/CAC
FA/CAC
FA/CAC
Energy Efficient tems
Insulation
Insulation
Insulation
Insulation
Garage/Carport
3gaddw
2ga2dw
0
|2gd2cp
3,000 | 2ga2dw
0
Porch/Patio/Deck
Porch
Patio,Porch
-2,000 | Porch
Porch
Add. Amenities
None
Shed
-1,000 | None
None
Net Adjustment (Total)
0+
X-
Is
17,300]
(J+
[XJ-
[s
6,520]
(XJ:
(J-
[s
4,700
Adjusted Sale Price
NetAdj.
-5.9%
NetAd.
-2.7%
NetAd.
2.1%
of Comparables
GrossAdi.
11.1%
277,700 | GrossAdi.
12.7%
$
233,980 | Gross Adi.
10.1% | $
229,700
1
did
J did not research the sale or transfer history of the subject property and comparable sales. If not, explain
My research
did
[] did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal.
Data source(s)
Eaton County Assessor
My research [] did
did not reveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale.
Data source(s)
Eaton County Assessor/Barry County Assessor/Ingham County Assessor
Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).
ITEM
SUBJECT
COMPARABLE SALE NO.
1
COMPARABLE SALE NO. 2
COMPARABLE SALE NO. 3
Date of Prior Sale/Transfer
08/05/2024
Price of Prior Sale/Transfer
$42,000
Data Source(s)
Eaton County Assessor
Eaton County Assessor
Barry County Assessor
Ingham County Assessor
Effective Date of Data Source(s)
| 07/15/2025
07/16/2025
07/15/2025
07/15/2025
Analysis of prior sale or transfer history of the subject property and comparable sales
~~ Subject transferred in a Warrant Deed on 08/05/2024 for $42,000 within
the past 36 months prior to the effective date of the appraisal. No prior sale or transfer history was noted for the comparables within the
past 12 months prior to the date of sale.
Summary of Sales Comparison Approach.
See Attached Addendum
Indicated Value by Sales Comparison Approach $ 243,000
Indicated Valueby:
Sales Comparison Approach $243,000
See Attached Addendum
Cost Approach (if developed) s 254,400
Income Approach (if developed) $s 0
This appraisal is made
"asis,"
UJ subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed,
OJ subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or
OJ subject to the following required
inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair:
~~ This appraisal report, in part or whole, is not
RECONCILIATION
intended to be utilized by any party for insurance purposes.
Based on a complete visual inspection of the interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limiting
conditions, and appraiser's certification, my (our) opinion of the market value, as defined, of the real property that is the subject of this reportis s
243,000
asof
07/15/2025
Freddie Mac Form 70 March 2005
whichis the date of inspection and the effective date of this appraisal.
Produced using ACI software, 800.234 8727 wun. acivweb.com
Fannie Mae Form 1004 March 2005
Page 20f 6
1004_05UAD 12182015
UAD Version 9/2011
ValueTec Appraisal Services, Inc.Page 3
ValueTec Appraisal Services, Inc.
i
i
A
9500071872
Uniform Residential Appraisal Report
File No. CCU15D25R1
Clarification of Intended Use and Intended User:
The Intended User of this appraisal report is the Lender/Client.
No additional Intended Users are identified by the appraiser.
This
report contains sufficient information to enable the client to understand the report. Any other party receiving a copy of this report for
any reason
is not an intended user; nor, does
it result in an appraiser-client relationship.
Use of this report by any other party(s) is not
intended by the appraiser.
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.
Appraisers are required to be licensed and are regulated by the Michigan Department of Licensing and Regulatory Affairs, PO Box
30018, Lansing, MI 48909
Note the GES's Definition of Days on the Market (DOM) is as follows; The total number of continuous days from the date that a
property is listed for sale through the date that it is taken off the market or contracted for sale.
This appraisal report has been prepared in compliance with the Uniform Appraisal Dataset (UAD) from Fannie Mae and Freddie Mac.
The UAD requires the appraiser to use standardized responses that include specific formats, definitions, abbreviations, and acronyms.
In the normal course of business, the appraiser attempted to obtain an adequate amount of information regarding the subject and
=4
comparable properties. Some of the required UAD standardized response, 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
a)
or typical in the normal course of business.
Examples include condition and quality ratings as well as comparable sales and listing
={ data.
Not every element of the subject property is always viewable and comparable property data was generally obtained from third-
party sources such as Assessor and Broker/MLS. Consequently, this information should be considered an "estimate" unless otherwise
noted by the appraiser.
"No employee, director, officer, or agent of the lender, or any 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 coercion, extortion, collusion, compensation, instruction, inducement,
intimidation, bribery or in any other manner.
| have not been contacted by anyone other than the intended user(lender/client as identified on the first page of the report), borrower, or
designated contact to make an appointment to enter the property.
| agree to immediately report any authorized contacts either
personally by phone or electronically.”
COST APPROACH TO VALUE (not required by Fannie Mae)
Provide adequate information for the lender/client to replicate the below cost figures and calculations.
Support for the opinion of site value (summary
of comparable land sales or other methods for estimating site value)
~~ The site value estimate is limited to a review of
vacant land sales, abstraction method and overview of current recorded land values from local assessing records. These different
methods may or may not be utilized to determine opinion of site value, however were considered.
5 ESTIMATED
(CJrePRODUCTION OR
[XJ REPLACEMENT COST NEW
OPINIONOFSITEVALUE
...
ovis
48,000
Source of cost data Marshall & Swift Handbook
Dwelling
1,600 Sq.Ft.@$
89.00...
142,400
i Quality rating from cost service Average
Effective date of cost data 03/01/2025
Sg.FL@s
E Comments on Cost Approach (gross living area calculations, depreciation, etc.)
I See Attached Addendum
Garage/Carport_1,600
Sq.FL@$
35.00......
=$
56,000
Total Estimate of Cost-New
$
198,400
Less
70
Physical
| Functional
|
External
Depreciation
$0
0)
Depreciated Cost of Improvements ...
198,400
"As-is" Value of Site Improvements.
.
8,000
Estimated Remaining Economic Life (HUD and VA only)
70 Years | INDICATED VALUE BY COSTAPPROACH..........ooooevevee.
=
§
254,400
INCOME APPROACH TO VALUE (not required by Fannie Mae)
Estimated Monthly Market Rent $
0X Gross Rent Multiplier
0
=%
0
Indicated Value by Income Approach
[2] summary of Income Approach (including support
for market rentand GRM)
Due to the fact the subject is not an income producing property the income
approach does not warrant use.
PROJECT INFORMATION FOR PUDs (if applicable)
Is the developer/builder in control of the Homeowners' Association (HOA)?
J Yes J No
Unit type(s)
J Detached
J Attached
Provide the following information for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit.
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
Data source(s)
=] Was the project created by the conversion of an existing buildings) into
a PUD?
[I] Yes UJ No
If Yes, date of conversion.
fo] Does the project contain any multi-dwelling units?
UJ Yes J No
Data source(s)
=| Are the units, common elements, and recreation facilities complete?
O Yes O No
If No, describe the status of completion.
Are the common elements leased to or by the Homeowners’ Association?
OJ Yes [I] No
If Yes, describe the rental terms and options.
Describe common elements and recreational facilities.
Freddie Mac Form 70 March 2005
UAD Version 9/2011
Produced using AC software, 800.234.8727 www. aciweb.com
Fannie Mae Form 1004 March 2005
Page 30f 6
1004_05UAD 12182015Page 4
ValueTec Appraisal Services, Inc. . A . . 9500071872 Uniform Residential Appraisal Report File No. CCU15D25R1 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 scope of work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser’s continuing education or membership in an appraisal organization, are 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 most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable 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 Produced using ACI software, 800.234 8727 www.aciweb.com Fannie Mae Form 1004 March 2005 Page 40 6 1004_05UAD 12182015
Page 5
ValueTec Appraisal Services, Inc. 9500071872 Uniform Residential Appraisal Report File No. CCU15D25R1 APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: 1. | have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report. 2. | performed a complete visual inspection of the interior and exterior areas of the subject property. | reported the condition of the improvements in factual, specific terms. | identified and reported the physical deficiencies that could affect the livability, soundness, or structural integrity of the property. 3. | performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 4. | 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 | considered the cost and income approaches to value but did not develop them, unless otherwise indicated in this report. 5. | researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report. 6. researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report. 7. | selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property. 8. | have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home that has been built or will be built on the land. 9. | have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales. 10. | 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. | am 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 records 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. | 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 | 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 all 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 | 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. 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; government sponsored enterprises; other 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). Freddie Mac Form 70 March 2005 UAD Version 9/2011 Produced using ACI software, 800.234 8727 www.aciweb.com Fannie Mae Form 1004 March 2005 Page 50 6 1004_05UAD 12182015
Page 6
ValueTec Appraisal Services, Inc. 9500071872 Uniform Residential Appraisal Report File No. CCU15D25R1 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 its successors and assigns, mortgage insurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any mortgage finance transaction that involves any one or more of these parties. 24. If this appraisal report was transmitted as an “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. report was prepared. SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that: 1. Il 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 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. TRE Signature /4 Ir 7 He Name Brigh Matt Duchene Company Name ValueTec Appraisal Services, Inc. Company Address Po Box 118 Williamston, MI 48895 SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature Name Company Name Company Address Telephone Number (517) 655-5100 Email Address bduchene@valuetecappraisals.com Date of Signature and Report 07/21/2025 Effective Date of Appraisal 07/15/2025 State Certification # or State License # 1203069706 or Other (describe) State # State MI Expiration Date of Certification or License 07/31/2026 State Licensed Appraiser ADDRESS OF PROPERTY APPRAISED 7313 W Mount Hope Hwy Mulliken, MI 48861-9626 LENDER/CLIENT Name No AMC APPRAISED VALUE OF SUBJECT PROPERTY § 243,000 Company Name Consumers Credit Union Company Address 7200 Elm Valley Drive Kalamazoo, MI 49009 Email Address Telephone Number Email Address Date of Signature State Certification # or State License # State Expiration Date of Certification or License SUBJECT PROPERTY (J Did not inspect subject property Did inspect exterior of subject property from street Date of Inspection (Joid inspect interior and exterior of subject property Date of Inspection COMPARABLE SALES (J Did not inspect exterior of comparable sales from street Jpid inspect exterior of comparable sales from street Date of Inspection Freddie Mac Form 70 March 2005 UAD Version 9/2011 Produced using ACI software, 800.234.8727 www.aciweb.com Page 6016 ValueTec Appraisal Services, Inc. Fannie Mae Form 1004 March 2005 1004_05UAD 12182015
Page 7
ValueTec Appraisal Services, Inc. 9500071872 Uniform Residential Appraisal Report File No. CCU15D25R1 FEATURE I SUBJECT COMPARABLE SALE NO. 4 COMPARABLE SALE NO. 5 COMPARABLE SALE NO. 6 7313 W Mount Hope Hwy 2448 E Vermontville Hwy Address Mulliken, MI 48861-9626 Charlotte, MI 48813-8707 Proximity to Subject 11.46 miles SE Sale Price S$ 42,000 $ 164,500 $ $ Sale Price/Gross Liv. Area | $ 26.25 sq.ft. [$107.10 sq.ft. $ sq. ft. $ sq. ft. Data Source(s) Ricmp #630000286367;D0M 43 Verification Source(s) Eaton County Assessor VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +0) $ Adjustment DESCRIPTION +) $ Adustment DESCRIPTION +() $ Adustment Sale or Financing ArmLth Concessions Cash;0 0 Date of Sale/Time s04/25;c04/25 0 Location N;Res; N;Res; Leasehold/Fee Simple Fee Simple Fee Simple Site 1.51 ac 33106 sf 2,300 View A;Res;BsyRd A;Res;BsyRd Design (Style) DT1;Barndo DT1;Barndo Quality of Construction Q4 Q4 Actual Age 0 0 Condition C2 C6 16,450 Above Grade Total | Bdmms| Baths Total | Bdmms| Baths Total |Bdms| Baths Total [Bdms| Baths Room Count 5]2 1.0 52 1.0 -4,000 Gross Living Area 24 1,600 sq.ft. 1,536 sq.ft. 0 sq. ft. sq. ft. Basement & Finished Osf Osf Rooms Below Grade Functional Utility Functional Functional Heating/Cooling FA/CAC No Heat 6,580 Energy Efficient tems Insulation Insulation Garage/Carport 3gaddw 2ga2dw 0 Porch/Patio/Deck Porch Patio,Porch -2,000 Add. Amenities None None Net Adjustment (Total) + [] - Is 19,330 [] + [] - |s J+ J- $ = Adjusted Sale Price NetAdj. 11.8% Net Adj. % Net Adj. % = of Comparables GrossAdi. 19.0% $ 183,830 | Gross Adj. %|$ Gross Adj %]$ a ITEM SUBJECT COMPARABLE SALE NO. 4 COMPARABLE SALE NO. 5 COMPARABLE SALE NO. 6 Fo] Date of Prior Sale/Transfer 08/05/2024 = Price of Prior Sale/Transfer $42,000 Data Source(s) Eaton County Assessor Eaton County Assessor Effective Date of Data Source(s) 07/15/2025 07/15/2025 Summary of Sales Comparison Approach SALES CO Freddie Mac Form 70 March 2005 UAD Version 9/2011 Produced using ACI software, 800.234.8727 www. aciweb.com Fannie Mae Form 1004 March 2005 1004_05UAD 12182015
Page 8
ValueTec Appraisal Services, Inc. . . . 9500071872 Uniform Appraisal Dataset Definitions File No. CCU15D25R1 Condition Ratings and Definitions C1 Theimprovements have been very recently constructed and have not previously been occupied. The entire structure and all components are new and the dwelling features no physical depreciation.” “Note: Newly constructed improvements that feature recycled materials and/or components can be considered new dwellings provided that the dwelling is placed on a 100% new foundation and the recycled materials and the recycled components have been rehabilitated/re-manufactured into like-new condition. Recently constructed improvements that have not been previously occupied are not considered "new" if they have any significant physical depreciation (i.e., newly constructed dwellings that have been vacant for an extended period of time without adequate maintenance or upkeep). C2 The improvements feature no deferred maintenance, little or no physical depreciation, and require no repairs. Virtually all building components are new or have been recently repaired, refinished, or rehabilitated. All outdated components and finishes have been updated and/or replaced with components that meet current standards. Dwellings in this category either are almost new or have been recently completely renovated and are similar in condition to new construction. “Note: The improvements represent a relatively new property that is well maintained with no deferred maintenance and little or no physical depreciation, or an older property that has been recently completely renovated. C3 The improvements are well maintained and feature limited physical depreciation due to normal wear and tear. Some components, but not every major building component, may be updated or recently rehabilitated. The structure has been well maintained. “Note: The improvement is in its first-cycle of replacing short-lived building components (appliances, floor 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 building components have been replaced but not to the level 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 building components/mechanical systems and cosmetic repairs. 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-lived building components are at or near the end of their physical life expectancy; however, they still function adequately. Most minor repairs have been addressed on an ongoing basis resulting in an adequately maintained property. C5 Theimprovements feature obvious deferred maintenance and are in need of some significant repairs. Some building components need repairs, rehabilitation, or updating. The functional utility and overall livability is somewhat diminished 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 lack of adequate maintenance. It reflects a property in which many of its short-lived building components are at the end of or have exceeded their physical life expectancy but remain functional. C6 The improvements have substantial damage or deferred maintenance with deficiencies or defects that are severe enough to 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 improvements due to the lack of adequate maintenance or property damage. It reflects a property with conditions severe enough to affect the safety, soundness, or structural integrity of the improvements. Quality Ratings and Definitions Q1 Dwellings with this quality rating are usually unique structures that are individually designed by an architect for a specified user. Such residences typically are constructed from detailed architectural plans and specifications and feature an exceptionally high level of workmanship and exceptionally high-grade materials throughout the interior and exterior of the structure. The design features exceptionally high-quality exterior refinements and ornamentation, and exceptionally high-quality interior refinements. The workmanship, materials, and finishes throughout the dwelling are of exceptionally high quality. Q2 Dwellings with this quality rating are often custom designed for construction on an individual property owner's site. However, dwellings in this quality grade are also found in high-quality tract developments featuring residences constructed from individual plans or from highly modified or upgraded plans. The design features detailed, high-quality exterior ornamentation, high-quality interior refinements, and detail. The workmanship, materials, and finishes throughout the dwelling are generally of high or very high quality. Q3 Dwellings with this quality rating are 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 exterior ornamentation and interiors that are well finished. The workmanship exceeds acceptable standards and many materials and finishes throughout the dwelling have been upgraded from "stock" standards. Q4 Dwellings with this quality rating meet or exceed the requirements of applicable building codes. Standard or modified standard building plans are utilized and the design includes adequate fenestration and some exterior ornamentation and interior refinements. Materials, workmanship, finish, and equipment are of stock or builder grade and may feature some upgrades. Q5 Dwellings with this quality rating feature economy of construction and basic functionality as main considerations. Such dwellings feature a plain design using readily available or basic floor plans featuring minimal fenestration and basic finishes with minimal exterior ornamentation and limited interior detail. These dwellings meet minimum building codes and are constructed with inexpensive, stock materials with limited refinements and upgrades. Q6 Dwellings with this quality rating are of basic quality and lower cost; some may not be suitable for year-round occupancy. Such dwellings are often built with simple plans or without plans, often utilizing 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 dwellings may feature one or more substandard or non-conforming additions to the original structure. Definitions of Not Updated, Updated, and Remodeled Not Updated Little or no updating or modemization. This description includes, but is not limited to, new homes. Residential properties of fifteen years of age or less often reflect an original condition with no updating, if no major components have been replaced or updated. Those over fifteen years of age are also considered not updated if the appliances, fixtures, and finishes are predominantly dated. An area that is ‘Not Updated’ may still be well maintained and fully functional, and this rating does not necessarily imply deferred maintenance or physical /functional deterioration. Updated The area of the home has been modified to meet current market expectations. These modifications are limited 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 include refurbishment and/or replacing components to meet existing market expectations. Updates do not 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 reflects fundamental changes that include multiple alterations. These alterations may include some or all of the following: replacement of a major component (cabinet(s), bathtub, or bathroom tile), relocation of plumbing/gas fixtures/appliances, significant structural alterations (relocating walls, and/or the addition of square footage). This would include a complete gutting and rebuild. Explanation of Bathroom Count The number of full and half baths is reported by separating the two values by a period. The full bath is represented to the left of the period. The half bath count is represented to the right of the period. Three-quarter baths are to be counted as a full bath in all cases. Quarter baths (baths that feature only toilet) are not to be included in the bathroom count. UAD Version 9/2011 Produced using ACI software, 800.234.8727 www. aciweb.com 1004_05UAD 12182015 Uniform Appraisal Dataset Definitions
Page 9
ValueTec Appraisal Services, Inc. Uniform Appraisal Dataset Definitions 9500071872 File No. CCU15D25R1 Abbreviations Used in Data Standardization Text Abbrev. Full Name Appropriate Fields Abbrev. Full Name Appropriate Fields ac Acres Area, Site in Interior Only Stairs Basement & Finished Rooms Below Grade AdjPrk Adjacent to Park Location Lndfl Landfill Location AdjPwr Adjacent to Power Lines Location LtdSght Limited Sight View A Adverse Location & View Listing Listing Sale or Financing Concessions ArmLth Arms Length Sale Sale or Financing Concessions MR Mid-Rise Structure Design(Style) AT Attached Structure Design(Style) Mtn Mountain View View ba Bathroom(s) Basement & Finished Rooms Below Grade | N Neutral Location & View br Bedroom Basement & Finished Rooms Below Grade | NonArm Non-Arms Length Sale Sale or Financing Concessions B Beneficial Location & View op Open Garage/Carport BsyRd Busy Road Location 0 Other Basement & Finished Rooms Below Grade cp Carport Garage/Carport 0 Other Design(Style) Cash Cash Sale or Financing Concessions Prk Park View View CtySky City View Skyline View View Psrl Pastoral View View CtyStr City Street View View PwrLn Power Lines View Comm Commercial Influence Location PubTm Public Transportation Location c Contracted Date Date of Sale/Time m Recreational (Rec) Room Basement & Finished Rooms Below Grade Conv Conventional Sale or Financing Concessions Relo Relocation Sale Sale or Financing Concessions cv Covered Garage/Carport REO REO Sale Sale or Financing Concessions CrtOrd Court Ordered Sale Sale or Financing Concessions Res Residential Location & View DOM Days On Market Data Sources RT Row or Townhouse Design(Style) DT Detached Structure Design(Style) RH Rural Housing - USDA Sale or Financing Concessions dw Driveway Garage/Carport sD Semi-detached Structure Design(Style) Estate Estate Sale Sale or Financing Concessions Ss Settlement Date Date of Sale/Time e Expiration Date Date of Sale/Time Short Short Sale Sale or Financing Concessions FHA Federal Housing Authority ~~ Sale or Financing Concessions sf Square Feet Area, Site, Basement g Garage Garage/Carport sqm Square Meters Area, Site, Basement ga Garage - Attached Garage/Carport Unk Unknown Date of Sale/Time gbi Garage - Built-in Garage/Carport VA Veterans Administration Sale or Financing Concessions gd Garage - Detached Garage/Carport wo Walk Out Basement Basement & Finished Rooms Below Grade GR Garden Structure Design(Style) wu Walk Up Basement Basement & Finished Rooms Below Grade GlfCse Golf Course Location WirFr Water Frontage Location Glfvw Golf Course View View Wir Water View View HR High Rise Structure Design(Style) w Withdrawn Date Date of Sale/Time Ind Industrial Location & View Woods Woods View View Other Appraiser-Defined Abbreviations Abbrev. Full Name Appropriate Fields Abbrev. Full Name Appropriate Fields UAD Version 9/2011 Produced using ACI software, 800.234.8727 www. aciweb.com Uniform Appraisal Dataset Definitions 1004_05UAD 12182015
Page 10
ADDENDUM Borrower: David Huhn File No.. CCU15D25R1 Property Address: 7313 W Mount Hope Hwy Case No.: 9500071872 City: Mulliken State: MI Zip: 48861-9626 Lender: Consumers Credit Union Legal Description COM 1495 FT W OF NE COR SEC. 26, S 368.5 FT, W 178 FT, N 368.5 FT, E 178 FT TO BEG. SEC. 26, T4AN,R6W, SUNFIELD TWP 1997 Highest and Best Use Subject is legally permissible use based on current zoning. Current improvements based on lot size, shape and land-to-building ratio make it physically possible. Based on current market conditions, existing improvements as a single family dwelling are financially feasible and appears to be most productive use. Appraiser has determined based upon analysis of subject and its location that single family residential is highest and best use. Site Comments There are no apparent easements or encroachments and utilities appear to be typical for the market area. | have not checked land records for recorded easements, deed restrictions and have reported only apparent easements, deed restrictions, encroachments and any other adverse conditions. See attached scope of work addendum for additional clarification. Although the subject property is zoned Limited Agricultural it is not a working farm or income producing property. Subject can be rebuilt as a residential property if destroyed by more than 50%. During property observation oil, gas or mineral mining was not noted within subject's immediate neighborhood/market. The subject's private well and septic systems have no marketable affect on the subject's property. Private utilities are typical for subject's immediate market. Public utilities are not available to subject property. The appraiser has noted external obsolescence due to the subject's location on a busy road. Comments on Sales Comparison The appraiser's comparable search parameters began with a MLS search for single family homes and barndominiums sold within the prior 3 months, located within a 1/4 mile radius of subject property, built between 2015 to 2025, and containing 1000 to 2000 sq. ft. of gross living area. Due to limited turnover within the subject's immediate neighborhood the appraiser found it necessary to extend search parameters to a 30 mile radius 18 month time frame from the effective date of the appraisal. The comparable sales used in this appraisal were the most similar sales within a 30 mile radius. Although the appraiser has crossed major roads and/or neighborhood boundaries a location adjustment is not warranted due to similar marketability. Homes within the subject's immediate neighborhood range in actual age from 0 to 165+ years. The Indicated Value by Sales Comparison Approach is $243,000 by appraiser taken into consideration matched pair analysis, experience in immediate market and statistical evidence provided through data sources such as local MLS, public records, Internet sites relative to subject and its market and weighted calculator. 27.4% - Comparable Sale 1; Sale Price $295,000; Adjusted Value $277,700; Gross Adj: 11.1% 26.4% - Comparable Sale 2; Sale Price $240,500; Adjusted Value $233,980; Gross Adj: 12.7% 25.7% - Comparable Sale 3; Sale Price $225,000; Adjusted Value $229,700; Gross Adj: 10.1% 20.5% - Comparable Sale 4; Sale Price $164,500; Adjusted Value $183,830; Gross Adj: 19.0% Gross living area is adjusted at $24.00/sf if there is a 100 sf difference. Gross living area adjustments are derived from current market reactions and trends. Due to similar effective age actual age adjustments were not warranted. As a result of adequate upkeep and maintenance the subject's effective age is lower than its actual age. Due to differences in marketability comparables 1-3 warrant a design adjustment of 2% of sale price therefore adjustments vary. Acreage adjustments are adjusted at $3,000/acre of land. Comparables 1 and 3 have more marketable site views thereby warranting downward view adjustments of 2% of sale price therefore adjustments vary. Comparable 1 appears to have never been occupied as new construction thereby warranting a downward condition adjustment of 2% of sale price. Comparable 3 appears to have average wear and tear thereby warranting an upward condition adjustment of 2% of sale price. Comparable 4 is under construction without kitchen and bathrooms installed therefore it is not ready for occupancy which warrants its C6 rating thereby warranting an upward condition adjustment of 10% of sale price. Comparable 4 is also noted to be without heating/cooling thereby warranting an upward heating/cooling adjustment of 4% of sale price. Note: Comparable 4 has similar barndominium construction as subject property therefore warranting use. Although subject's appraised value is lower than its neighborhood predominant value it is not considered to be over or under improved for its neighborhood. Due to the limited turnover of more similar comparables the appraiser has used sale prices/adjusted values that exceed a 15% variance. Subject's appraised value is supported by sales within subject's immediate market/neighborhood and sales within subject's immediate market/neighborhood appear to be most reliable indicators of value. Per Fannie Mae Selling Guide B4-1.2-01: Appraisal Report Forms and Exhibits (04/15/2014) Exterior photographs "Clear, descriptive photographs showing the front, back, and a street scene of the subject property and the front of each comparable. The subject and all comparables must be appropriately identified. Acceptable photographs include original images from photographs or electronic images, copies of photographs from a multiple listing service, or copies from the appraiser's files." Note photos within this appraisal report are either original or utilized from prior data due to either people located within the photo and or not a clear image and or view of the comparable. Regardless of the image each comparable has been at least had a drive by in which the appraiser had to consider the most appropriate image for the circumstances at that given time. Where adjustments were necessary, they were extracted using the following approved appraisal methodology unless otherwise noted: 1. Matched Pair Analysis 2. Matched Pair Analysis from the appraisers data files (across the board adjustments) 3. Experience in the field within the subjects market Addendum Page 1 of 2
Page 11
ADDENDUM Borrower: David Huhn File No.. CCU15D25R1 Property Address: 7313 W Mount Hope Hwy Case No.: 9500071872 City: Mulliken State: MI Zip: 48861-9626 Lender: Consumers Credit Union relative to the subject and/or its market and weighted calculator) Final Reconciliation The sales comparison approach was given most weight in determining market value, as it most clearly represents market reactions and trends. Note the income approach was considered, however did not warrant use due to the fact that the subject is not an income producing property. The cost approach may or may not have been performed based on the scope of work and clients request. Note a significant difference can occur between the sales and cost approach as the cost approach is based on replacement cost new and is not affect by local market trends. Cost Approach Comments The cost of the home is based on builder prices for similar homes in the area utilizing Marshall Swift Publication. Therefore it is not uncommon for cost to build new and appraised values to differ as a result of constantly changing market trends and Intrapreneur profits. Due to a lack of recent similar land sales information about the site value of comparable sales was collected and analyzed in an effort to establish a ratio between the site value and total market value. This ratio was then applied to the subject property (allocation). The remaining economic life is 69 years. Physical depreciation was based on the Age-Life Method for estimating Remaining Economic Life. Revision: 07/21/2025 The report is changed to AS-IS with a cost to cure. Addendum Page 2 of 2
Page 12
ValueTec Appraisal Services, Inc. 9500071872 Market Conditions Addendum to the Appraisal Report Fieno. CCU15D25R1 The purpose of this addendum is to provide the lender/client with a clear and accurate understanding of the market trends and conditions prevalent in the subject neighborhood. This is a required addendum for all appraisal reports with an effective date on or after April 1, 2009. Property Address 7313 W Mount Hope Hwy city Mulliken State MI Zip Code 48861-9626 Borrower David Huhn Instructions: The appraiser must use the information required on this form as the basis for his/her conclusions, and must provide support for those conclusions, regarding housing trends and overall market conditions as reported in the Neighborhood section of the appraisal report form. The appraiser must fill in all the information to the extent it is available and reliable and must provide analysis as indicated below. If any required data is unavailable or is considered unreliable, the appraiser must provide an explanation. Itis recognized that not all data sources will be able to provide data for the shaded areas below; if it is available, however, the appraiser must include the data in the analysis. If data sources provide the required information as an average instead of the median, the appraiser should report the available figure and identify it as an average. Sales and listings must be properties that compete with the subject property, determined by applying the criteria that would be used by a prospective buyer of the subject property. The appraiser must explain any anomalies in the data, such as seasonal markets, new construction, foreclosures, etc. Inventory Analysis Prior 7-12 Months | Prior 4-6 Months | Current - 3 Months Overall Trend Total # of Comparable Sales (Settled) 3 0 5 J Increasing XJ Stable Declining Absorption Rate (Total Sales/Months) 0.50 0.00 1.67 [0] Increasing XJ Stable Declining Total # of Comparable Active Listings 2 0 0 Declining XJ Stable Increasing Months of Housing Supply (Total Listings/Ab.Rate) 4.00 0.00 0.00 Declining X] Stable Increasing Median Sale & List Price, DOM, Sale/List% Prior 7-12 Months [ Prior 4-6 Months | Current - 3 Months Overall Trend Median Comparable Sale Price 285,000 0 250,000 Increasing XJ Stable Declining Median Comparable Sales Days on Market 39 0 43 Declining XJ Stable Increasing Median Comparable List Price 244,900 0 0 Increasing X] Stable Declining Median Comparable Listings Days on Market o7 0 0 Declining XJ Stable Increasing Median Sale Price as % of List Price 93.79% 0.00% 101.76% _[[J Increasing XJ Stable Declining Seller-(developer, builder, etc.)paid financial assistance prevalent? No [1] Declining XJ Stable Increasing Explain in detail the seller concessions trends for the past 12 months (e.g., seller contributions increased from 3% to 5%, increasing use of buydowns, closing costs, condo fees, options, etc.). The data used in the grid above does not indicate there were any concessions associated with the reported transactions. However, this is not a mandatory reporting field for agents and there may be some transactions that do include concessions, but have not been reported. It is beyond the scope of this assignment to confirm each sale used in the Market Conditions Report. Are foreclosure sales (REO sales) a factor in the market? UJ Yes No Ifyes, explain (including the trends in listings and sales of foreclosed properties). REALCOMP indicates there were 8 closed sales during the past 12 months and 1 of those sales were either foreclosures or short sales which is 13% of the total transactions in this market area. Prior Months 7-12: 3 Sales; 0 foreclosures or short sales; 0% of sales for this period. 4-6: 0 Sales; 0 foreclosures or short sales; 0% of sales for this period. 0-3: 5 Sales; 1 foreclosures or short sales; 20% of sales for this period. Cite data sources for above information. REALCOMP was the data source used to complete the Market Conditions Addendum. 7/16/2025 Summarize the above information as support for your conclusions in the Neighborhood section of the appraisal report form. If you used any additional information, such as an analysis of pending sales and/or expired and withdrawn listings, to formulate your conclusions, provide both an explanation and support for your conclusions. Statistical data was not prevalent enough to accurately determine marketing trends within the subject market. The appraiser has expanded his search criteria in order to get a more accurate representation of marketing trends, and has determined the subject market's trends and turnover of sales to be stabilized. If the subject is a unitin a condominium or cooperative project, complete the following: Project Name: Subject Project Data Prior 7-12 Months | Prior 4-6 Months | Current - 3 Months Overall Trend Total # of Comparable Sales (Settled) [I] Increasing Stable Declining Absorption Rate (Total Sales/Months) [8] Increasing Stable Declining Total # of Active Comparable Listings Declining Stable Increasing Months of Unit Supply (Total Listings/Ab. Rate) Declining Stable Increasing Are foreclosure sales (REO sales) a factor in the project? O Yes [0] No Ifyes, indicate the number of REO listings and explain the trends in listings and sales of foreclosed properties. Summarize the above trends and address the impact on the subject unit and project. APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED) 0% ia EF o Signature Vi ZU? 7 a «& Signature [7] Name Briah Matt Duchene Name g Company Name ValueTec Appraisal Services, Inc. Company Name % Company Address Po Box 118 Company Address Williamston, M1 48895 State License/Certification # 1203069706 State MI State License/Certification # State Email Address bduchene@valuetecappraisals.com Email Address Freddie Mac Form 71 March 2009 Produced using ACI software, 800.234.8727 www. aciweb.com Fannie Mae Form 1004MC March 2009 Page 10f 1 10041C_2009090909
Page 13
SUBJECT PROPERTY PHOTO ADDENDUM Borrower: David Huhn File No.: CCU15D25R1 Property Address: 7313 W Mount Hope Hwy Case No.: 9500071872 City: Mulliken State: MI Zip: 48861-9626 Lender: Consumers Credit Union FRONT VIEW OF SUBJECT PROPERTY Appraised Date: July 15, 2025 Appraised Value: $243,000 REAR VIEW OF SUBJECT PROPERTY = 5" STREET SCENE
Page 14
Borrower: David Huhn File No.: CCU15D25R1 Property Address: 7313 W Mount Hope Hwy Case No.: 9500071872 City: Mulliken State: MI Zip: 48861-9626 Lender: Consumers Credit Union 2nd Front View Side view Side view Produced using ACI software, 800.234.8727 www. aciuweb.com PHT3 05212013
Page 15
Borrower: David Huhn File No.: CCU15D25R1 Property Address: 7313 W Mount Hope Hwy Case No.: 9500071872 City: Mulliken State: MI Zip: 48861-9626 Lender: Consumers Credit Union 3rd Front View 4th Front View Interior of attached garage Produced using ACI software, 800.234.8727 www. aciuweb.com PHT3 05212013
Page 16
Borrower: David Huhn File No.: CCU15D25R1 Property Address: 7313 W Mount Hope Hwy Case No.: 9500071872 City: Mulliken State: MI Zip: 48861-9626 Lender: Consumers Credit Union Interior of garage future bath Mechanicals Mechanicals Produced using ACI software, 800.234.8727 www. aciuweb.com PHT3 05212013
Page 17
Borrower: David Huhn File No.: CCU15D25R1 Property Address: 7313 W Mount Hope Hwy Case No.: 9500071872 City: Mulliken State: MI Zip: 48861-9626 Lender: Consumers Credit Union Mechanicals Mechanicals Mechanicals Produced using ACI software, 800.234.8727 www. aciuweb.com PHT3 05212013
Page 18
Borrower: David Huhn File No.: CCU15D25R1 Property Address: 7313 W Mount Hope Hwy Case No.: 9500071872 City: Mulliken State: MI Zip: 48861-9626 Lender: Consumers Credit Union Mechanicals Living Room Kitchen Produced using ACI software, 800.234.8727 www. aciuweb.com PHT3 05212013
Page 19
Borrower: David Huhn File No.: CCU15D25R1 Property Address: 7313 W Mount Hope Hwy Case No.: 9500071872 City: Mulliken State: MI Zip: 48861-9626 Lender: Consumers Credit Union Kitchen view 2 Bedroom Future Primary Bath Produced using ACI software, 800.234.8727 www. aciuweb.com PHT3 05212013
Page 20
Borrower: David Huhn File No.: CCU15D25R1 Property Address: 7313 W Mount Hope Hwy Case No.: 9500071872 City: Mulliken State: MI Zip: 48861-9626 Lender: Consumers Credit Union Future Primary Bath view 2 Laundry Full Bath 2 Produced using ACI software, 800.234.8727 www. aciuweb.com PHT3 05212013
Page 21
Borrower: David Huhn File No.: CCU15D25R1 Property Address: 7313 W Mount Hope Hwy Case No.: 9500071872 City: Mulliken State: MI Zip: 48861-9626 Lender: Consumers Credit Union Full Bath 2 view 2 Bedroom 2 Permit approvals Produced using ACI software, 800.234.8727 www. aciuweb.com PHT3 05212013
Page 22
COMPARABLE PROPERTY PHOTO ADDENDUM Borrower: David Huhn File No.: CCU15D25R1 Property Address: 7313 W Mount Hope Hwy Case No.: 9500071872 City: Mulliken State: MI Zip: 48861-9626 Lender: Consumers Credit Union COMPARABLE SALE #1 5726 Joshua Dr Eaton Rapids, MI 48827-7007 Sale Date: s06/25;c05/25 Sale Price: $ 295,000 COMPARABLE SALE #2 11892 S M 43 Hwy Delton, MI 49046-9415 Sale Date: s05/25;c03/25 Sale Price: $ 240,500 COMPARABLE SALE #3 4371 Byrum Rd Onondaga, MI 49264-9716 Sale Date: s12/24;c10/24 Sale Price: $ 225,000
Page 23
COMPARABLE PROPERTY PHOTO ADDENDUM Borrower: David Huhn File No.: CCU15D25R1 Property Address: 7313 W Mount Hope Hwy Case No.: 9500071872 City: Mulliken State: MI Zip: 48861-9626 Lender: Consumers Credit Union COMPARABLE SALE #4 2448 E Vermontville Hwy Charlotte, MI 48813-8707 Sale Date: s04/25;c04/25 Sale Price: $ 164,500 COMPARABLE SALE #5 Sale Date: Sale Price: $ COMPARABLE SALE #6 Sale Date: Sale Price: $
Page 24
FLOORPLAN SKETCH
Borrower: David Huhn
File No.:
CCU15D25R1
Property Address: 7313 W Mount Hope Hwy
Case No.: 9500071872
City: Mulliken
State: MI
Zip: 48861-9626
Lender: Consumers Credit Union
First Floor
40.0'
Primary
Bedrm
Full
Bath
Bedrm
=]
Pri
=
3 Car
2)
[=]
o
o
g
nmary
(12
Garage
€
Bath
Kitchen
Living Room
{
i
40.0’
{
Cov
|
=
H
©!
Porch
i
L
:
Sketch
by
Af
AREA CALCULATIONS SUMMARY
AREA CALCULATIONS BREAKDOWN
Code
Description
Factor
Net Size
Perimeter
Net Totals]
Name
Base
x
Height
x
width
=
Area
GLAL
First Floor
1.0
1600.0
160.0
1600.0]
First Floor
40.0
x
40.0
=
1600.0
GAR
Garage
1.0
1600.0
160.0
1600.0
p/P
Porch
1.0
512.0
96.0
512.0
Net LIVABLE
cnt
1
(rounded)
1,600
1 total items
(rounded)
1,600
@ ILOOKABOUT (US) Inc.
dba Apex SoftwarePage 25
LOCATION MAP
Borrower: David Huhn
File No.:
CCU15D25R1
Property Address: 7313 W Mount Hope Hwy
Case No.: 9500071872
City: Mulliken
State: MI
Zip: 48861-9626
Lender: Consumers Credit Union
Belding
Fala
Maple Rapids
Eureka
Grattan
7
4
Hubbardston
=
Orleans
|
ol
8
Smyrna
(e8)
sburg
[
bu
|
Alton
|
|
|
Muir
—
Pewamo
Fowler
St-Johns+—
Fallasburg
ole
Lyons
[111
i
—Lowell™
Saranac
i
Westphalia
Riley
|
|
@
=
————
eee
Tt
fo
J
eyville
w
“Portland
|
a)
:
TN
|
a
5
Clarksville
West Sebewa
\
Dewitt
|
]
@®
S—
Wacousta
—-
l
Eagle.
fos
4
+=}
@
==
be
A
aks Oder Subject
I
[i
1
Freeport
| 7313 W Mount Hope Hwy liken
|
A
Mulliken, MI 49861-9626
||
|
crandledge
i
of
i
~Carlton-
Woodland]
TTY, TEE
?
:
waverly Lansing gE
eville
A
Comparable Sale 4
|
X
y
2448 E Vermontville Hwy
|
ining:
LO
)
Charlotte, MI 48813-8707
|
)
\
11.46 miles SE
Le LAR
Ll
——
Hastings
Io)
(OF
5 Fbimondale
A i
1
Vi
vill
oa
|
\
5
srmontville
\.
> jis]
|
)
2
Nashville
Comparable Sale 1
\
1
5726 Joshua Dr
I
)
13
=
Eaton Rapids, MI 48827-7007
©
8 Comparable Sale 2
|
Maple Grove
ie 16.87 miles SE
|
bic
foidon,
40
prm——r
Comparable Sale 3
Deiton, MI 49045-9415
j
#
i
27.52 miles
SW
4
4371 Byrum Rd
|
Se
Siaey
J
(50)
7
Onondaga, Mi 49264-9716
|
RT
———
|
Anger
sed
29.61 miles SE
a
@3)
Assyria
a
a
—— ——
i
Hickory
\
Bellevue
[oliver
Brookfield
Onondaga
-
'
|
rd
|
{
—
4
South
f
\
PucsfBke
N
Rives J
Jand Gull Lake
/
y.
Springport
N
¢
Level
4
|
3
Park-Oak Park
®
|
=
Augusta
]
A
i “Ne
Battle/Cresk __
5
Galesburg _
=
<d
| NEN
hy
=
SR
—r
pe
Ceresco
Marshall
Marengo
%__
DE a
i
{
>
=I"
=
|
Pama
gudeionel-
Climax
ol
4
Albion
=
West Leroy
|
Wrights
ST
Scotts
|
Comers
Eckford
Spring Arbor
-
|
WEod
ilion
1)
)
Concors
|
{
p——
iL
|
d
J
Homer
Harton
/
\
{
Clarendon
Fulton
/
1
|
|
Pulaski
/
Burlington = —&
Hanover
Athens
&
Tekorsha
Pom Union City
Butler
\
Mosherville
4
_
Litchfield
{72y
(3)
53
es
Jeror
mdor
{=
Sherwood
{
Wd
:
Jonesiille
|
cn 22PEV
1815p data ©2025 GooglePage 26
FLOOD MAP Borrower: David Huhn File No.: CCU15D25R1 Property Address: 7313 W Mount Hope Hwy Case No.: 9500071872 City: Mulliken State: MI Zip: 48861-9626 Lender: Consumers Credit Union Subject 7313 \W MOUNT HOPE HWY MULLIKEN, MI 48861 3 Fi 3 7 FLOOD INFORMATION LEGEND Community: Township of Sunfield = FEMA Spacial Flood Hazard Ares — High Risk Property is NOT in @ FEMA Special Flood Hazard Area Map Number: 26045C0175E = Moderate and Minimal Risk Areas Panel; 26045C0175 Zone: X Map Date: 11-26-2010 FIPS: 26045 Source: FEMA DFIRM Road View: = Forest = Water Sky Flood™ gality m ncceptod y thud party § roy ut " le Ir fs cu
Page 27
Appraiser's License Borrower: David Huhn File No.: CCU15D25R1 Property Address: 7313 W Mount Hope Hwy Case No.: 9500071872 City: Mulliken State: MI Zip: 48861-9626 Lender: Consumers Credit Union STATE OF MICHIGAN DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS BUREAU OF PROFESSIONAL LICENSING STATE LICENSED REAL ESTATE APPRAISER LICENSE BRIAN MATT DUCHENE TON DATC 120306970k 07/31/202k 24130070541
Page 28
E & O Insurance Page 1 Borrower: David Huhn File No.: CCU15D25R1 Property Address: 7313 W Mount Hope Hwy Case No.: 9500071872 City: Mulliken State: MI Zip: 48861-9626 Lender: Consumers Credit Union = LIA Administrators & Insurance Services Company's Program Administrator: LIA Administrators & Insurance Services 1600 Anacapa Street Santa Barbara, CA 93108 800-334-0652 =A “Aspen = Aspen American Insurance Company Insurer (Referred to below as the " Company") 499 Washington Boulevard, 8th Floor Jersey City, N] 07310 APPRAISAL, VALUATION AND PROPERTY SERVICES PROFESSIONAL LIABILITY INSURANCE POLICY DECLARATIONS Dasse bssoed: 514/225 Palicy Number: AAIO1154-11 Previous Policy Numbes AANOL 154-10 THIS 15 A CLAIMS MADE AND REPORTED POLICY. COVERAGE 1S LIMITED TO LIABILITY FOR ONLY THOSE CLAIMS THAT ARE FIRST MADE AGAINST THE INSURED DURING THE POLICY PERIOD AND THEN REPORTED TO THE COMPANY IN WRITING NO LATER THAN SINTY (60) DAYS AFTER EXPIRATION OR TERMINATION OF THIS POLICY, OR DURING THE EXTENDED REPORTING PERIOD, IF APPLICABLE, FOR A WRONGFUL ACT COMMITTED ON OR AFTER THE RETROACTIVE DATE AND BEFORE THE END OF THE POLICY PERIOD. PLEASE READ THE POLICY CAREFULLY. 1 Customer ID: 134933 Named Insured: VALUETEC APPRAISAL SERVICES, INC VALUETEC APPRAISAL GROUP, L1£ Jeffery Thomas Beach 613 W. Grand River Ave Willizmmssom, MI 48895 2. Policy Period: From: ~~ 05/29/2025 To: 05/29/2026 1200 AM. Standard Tne ax the address stated in Dabove A Deductible: $2500 Fach Cladm + Retroactive Dane: 05/29/1997 5. Toveption Das; a5/29/015 [% Limes of Liahiljsy: A SLI Fach Claim B. $2000 Aggregate 7. Covered Professional Services (as defined in the Policy and/or by Endorsement): Real Este Appraisal and Valsnoee Yes No Residential Property: Ves No Commercial Propesty: Yes No Bodily Injury snd Property Damage Caused Dusting Appraisal Tspection ($100,000 Sub- Ling) Yeu No Addl by endorsement) Right of Way Apenr and Relocanion: Yes No Machinery and Equipment Valuation: Yes No Personal Property Appraisak Yeu No added by endorsement) Racal Estate Saks! Beukerage: Yes No ex™, acd by endoscment] 9 Report Cladmes so: LEA Adasinistratoes & Insumnee Services, SO0-314.0652, PO), Toa 1319, 16000 Anacapa Steees, Sunes Barbers, CA 9502-1319 9. Anpual Premium: $4,425.00 10. Forms attached at issue: LLADOZ (04/19 LIA MI (05/1% LIA MINOT 19) LIAO12 (06/22) LIAD2D (02/22) LIATL9 (05/195 LIA129 (05/190 LIAL3L (05/19) LIAT64 (05/19) LIAL69 (12/21) This Declarations page. together with the completed and signed Policy Applicasion including all attachments and there, and the Pokey shall 2 ~Z ee = ] - constinute the contract between the Named Insured and the Company, 05/14/2025 Br Date Authored Reproscatative LIAO (05,22) Page | of 1
Page 29
E & O Insurance Page 2 Borrower: David Huhn File No.: CCU15D25R1 Property Address: 7313 W Mount Hope Hwy Case No.: 9500071872 City: Mulliken State: MI Zip: 48861-9626 Lender: Consumers Credit Union Appraisal, Valuation and Property Services Professional Liability Insurance Policy Named Insured: VALUETEC APPRAISAL SERVICES, INC Policy Number: AAIK1154-1] VALUETEC APPRAISAL GROUP, LLC Effective Date: 05/29/2025 Jeffery Thonsas Bosch Customer 1D: 134933 THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. ADDITIONAL COVERED PROFESSIONALS ENDORSEMENT This endorsement modifies insumnce provided under the following: APPRAISAL, VALUATION AND PROPERTY SERVICES PROFESSIONAL LIABILITY INSURANCE POLICY In consideration of the premium charged, it is agreed that Section IV, DEFINITIONS (1) "Insured" is amended 10 include: "Insured means: The persons idennfied below, but only while acting on behalf of the Named Insured: Coverage Name Effective Date Jeffery Thomas Beach 03/29/2025 Robert Jeffery Gow 05/29/2025 Brian Matt Duchene 05/29/2025 Brett Christie 05/29/2025 Sarah Marie Walker 05/29/2025 Sumner Dane Toles 0529/2025 Robern Edward Brown 05/29/2025 Kyler Michael Koschmider 03/29/2028 Matthew James Waddell 15/29/2025 Michelle Schwantz 05/29/2025 Joseph Apap 03/29/2025 All other terms, conditions, and exclusions of this Policy remain unchanged Aspen Amencan Insurance Company Page lof 1 LIADIZ (D&22)
Page 30
E & O Insurance Page 3 Borrower: David Huhn File No.: CCU15D25R1 Property Address: 7313 W Mount Hope Hwy Case No.: 9500071872 City: Mulliken State: MI Zip: 48861-9626 Lender: Consumers Credit Union ( CERTIFICATE OF INSURANCE Producer: este Dine: 0514/2028 This Cotificat i insilod se s watior of infomation oaly and LIA ADMINISTRATORS & INSURANCE SERVICES confers mo rights upan the Certificate Holder. This Certificate PO. Hox 1319 does not amend, wxtend or ahier the coverage sffonded by the Samia Harbara, CA 93102-1319 policy hebom. Insured: 1344933 COMPANY AFFORDING COVERAGE VALUETEC APPRAISAL SERVICES, INC. VALUETEC APPRAISAL GROUP, 11.C Aspen American Insurance Company Jeffery Thomas Beach PO Hox 118 Willimmstor, M1 48895 ~_« ’ fre =] Fax Number: 888-971-9943 Authorized Representative This is to certsly that the policy of insurance listed below has been issued to the Insured named above for the policy pened indicated Notwithstanding any requirement, tenn of condition of any contract or other document with respect 1 which this Certificate may be issmed or may pertain, the insurance afforded by the policy described herein is subject to all the terms, exclusions and conditions of such policy. Lusuls shown muy have been reduced by pad clomms. DISCLAIMER: This certificate of msurance does nat affirmatively or negatively amend, extend, or alter the covernge afforded by the insarnnce policy TYPE OF INSURANCE POLICY NUMBER | EFFECTIVE DATE | EXPIRATION DATE LIMITS Professional Linhility AAIOTL34-11 03/292028 03202026 Lach Claim $ LO08.000 (CGemeral Aggregate S$ 2,000,000 Description of Operations ocations Special Items Professional Services as defined in the policy Certificate Holder: Cancellation: VALUETEC APPRAISAL SERVICES, INC SHOULD ANY OF THE ABOVE DESCRIBED POLICIES VALUETEC APPRAISAL GROUP, LLC BE CANCELLED BEFORE THE EXPIRATION DATE Jeffery Thomas leach THEREOF, NOTICE WILL BE DELIVERED IN PO Box 118 ACCORDANCE WITH THE POLICY PROVISIONS. Willimmston, M1 48895 LIADOQT (11/97) Insured Copy
Page 31
Farmlist Borrower: David Huhn File No.: CCU15D25R1 Property Address: 7313 W Mount Hope Hwy Case No.: 9500071872 City: Mulliken State: MI Zip: 48861-9626 Lender: Consumers Credit Union Sold MLS # Address Bds Bths TU Sqft Sold Date DOM List Price Sold Price ~~ SPY%LP 6300002863¢ 2448 E Vermontville Highway 2 20 1,536 04/25/2025 N/43/43 $179,900 $164,500 91.44% 6300002834€ 4371 Byrum Road #32 2 1.0 1,280 12/05/2024 N/19/19 $239,900 $225,000 93.79% 65024061747 11892 S M43 3 20 1,227 0514/2025 NA05105 $239,900 $240,500 100.25% 59025010118 590 N Washington Avenue 3 20 1,620 05/02/2025 N/3/3 $239,900 $250,000 104.21% 6502405770F 1498 Kenwood Avenua 3 20 1,400 06/30/2025 N/9O/90 $249,800 $255,000 102.04% 81024045511 20334 26 1/2 Mile Road 3 20 1,740 10/07/2024 Y/M16/39 $324,900 $285000 87.72% 6402400906¢ 12542 15 1/2 Mile Ruad 3 21 1,532 08/30/2024 Nf130/130 $289,900 $289,900 100.00% 55025023221 5726 Joshua Drive 3 20 1,280 06/25/2025 Nf35/35 $289,900 $295,000 101.76%
Page 32
PRD Borrower: David Huhn File No.: CCU15D25R1 Property Address: 7313 W Mount Hope Hwy Case No.: 9500071872 City: Mulliken State: MI Zip: 48861-9626 Lender: Consumers Credit Union Eaton County Public Records - Full Detail Report Location & Ownership Property Address: 7313 W Mount Hope Hwy Property ID: 01002620001500 City/State/Zip: Mulliken, Michigan, 48861-9626 Owner Name: David Huhn Lat/Long: 42.711620 / -84.981453 Taxpayer Address: 523 Bainbridge Drive #36 Census Tract: 0207 City/State/Zip: East Lansing, Michigan, 48823-1976 Black Group! 1 City/Village/Town: Sunfield Twp School District: Lakewood Subdivision: Property Category: Residential MLS Ares: 23011 - Sunfield Twp Land Use: 401 - RESIDENTIAL IMPROVED Legal Description: TAN, R6W, SUNFIELD TWP 1997 COM 1495 FT W OF NE COR SEC. 26, S 368.5 FT, W 178 FT, N 368.5 FT, E 178 FT TO BEG. SEC. 26, Taxes Year Season Total Ad Val Admin Fee Asmat CVT Iti Seasonal Assessments Year Taxable Val State Eq Val Hmstd % Ttl Taxes 2023 $0 $18,700 0 2022 $0 $17,600 a 2021 $13,689 $16,300 a 2020 $13,500 $13,500 100 2019 30 $13,900 100 Transfer Information Grantor Grantee Deed Date Deed Type Liber/Page BERTA ROBERT E HUHN DAVID 0B/0S/2024 DB/0S/2024 $42,000 WAR/DEED 03102/0332 Other Recordings Obligee Obligar Doc Date Amount Doc T Liber/Page MICHIGAN STATE UNIVERSI BARTA ROBERT E D3/31/2006 03/17/2006 $13,800 MTG 02021/0605 Characteristics Living Area SF: 1680 Bedrooms: Basement Sqft: 1680 Bathrooms: 1.0 Style: Modular Home Garage Sqft: Basement: Basement Garage Width: Heating: Forced Air Gas Service: #1 Porch/Dimensions: / Storm Sawer: Topography: Land Sqft: 65776 Irregular: Acres; 1.51 Commercial Number of Bulldings: 3 Search for MLS Listings
Page 33
ASSIGNMENT DESCRIPTION Do not separate from the rest of the report! Any segregation of this multi-page report may jeopardize the user. Introduction 1. 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. 2. Primary Appraiser Generated Information (PAGI) is the information which the appraiser provides to the intended user that the user will isolate and consider. The appraiser has diagnosed the intended user's problem and will discuss the scope of work for the following PAGI later in this document: Main Value Opinion; Site Value. 3. No personal property, trade fixtures, or intangible items that are not real property are included in the opinion of value. Scope of Work 4. The subject property was identified to the appraiser by the client providing the property address and the current owner's name. A tax card and plat were pulled for that address via a third party provider. The property boundaries were pointed out to the appraiser by one of the following (current owner, purchaser, or sales agent). 5. This appraisal is intended to be in compliance with general industry standards for the secondary market. 6. The following approaches to value have been considered in the scope of work decision for the main "Value Opinion": 7. The Cost Approach was performed. 8. The Direct Comparison Approach was performed. 9. The Income Approach was not performed. The Income Approach is not applicable, because the subject property would not typically be purchased as a rental investment. Most similar properties in the area are owner occupied. 10. Additional information concerning the scope of work is conveyed throughout the report. 11. Please be aware that the term "Inspection" may be used on some standard appraisal forms which the appraiser cannot modify. The term inspection found anywhere in this report is to mean a "Personal Visual Inventory" of the subject's or comparable property's components. This is opposed to a "Home Inspection”, which investigates the appropriateness and soundness of various components of the improvements. 12. A Level "A" market analysis was performed which is general and descriptive in nature. Historic data and selected comparables are analyzed to gauge the economic climate of the subject's market. Extent of Research of the Subject Property 13. The Census Tract information for the subject property was obtained from a third party provider based on the property address via my appraisal software. The flood zone information for the subject property was obtained from a third party provider based on the property address via my appraisal software. The subject property's County Tax Assessor's information, via a third party source, was researched for past sales and physical characteristic information. The subject property's zoning was obtained from either a zoning map and the accompanying zoning descriptions, or upon a phone interview. This information was provided by the zoning authority. 14. The subject property data that was obtained from second-hand sources was validated by the appraiser personally accessing the subject property. In addition the owner was interviewed concerning past sales, utilities, and physical property characteristics. 15. |, the appraiser, did personally make a visual inventory of the subject property while walking over the land, through the interior, and around the exterior of the subject property. 16. The subject property was measured in an attempt to assist the appraiser in developing an opinion concerning the specific Primary Appraiser Generated Information listed above. Unless estimating the square footage was listed as a PAGI, the appraiser has only attempted to measure the property within an accuracy necessary to assist in the analysis of various market data. The user is advised not to rely on the size estimates used in these analyses for any reason. 17. Unless a professional home inspection, structural engineer study, or similar report was provided to the appraiser; the subject property information was obtained by a method of data gathering known as a "Personal Visual Inventory". This consists of the appraiser compiling notes of what components are there and how many of them there are. This personal visual inventory may be made on-site or from the curb, but not from photos or a video presentation. The extent of the subject property accessed was stated above; and did not include accessing any part of the property that could not be walked through in an upright manner, or that required the use of special equipment such as a ladder. None of the property components were dissected or inspected by the appraiser. 18. The appraiser has not performed a "Home Inspection” which is a process utilized to rate the appropriateness and usability of the various components of the structure. This process involves inspecting and testing. Should you have concerns about these issues please seek a qualified professional to investigate these issues for you. The information obtained from a home inspection may affect the value of the subject property, so the appraisal should be made after the home inspection rather than visa versa. 19. Neither police records nor past issues of newspapers have been researched concerning the subject property's past use for anything that might affect the safety or health of present and future occupants. This includes but is not limited to the by- products of methamphetamine production, infectious disease, or environmental hazards. 20. If available in the normal course of business the appraiser has evaluated any previous sales within the past 3 years prior to the effective date of the appraisal, and current contract, listing, or option of the subject property for its applicability in forming an opinion of current market value and/or marketability. Hypothetical Conditions / Extraordinary Assumptions 21. There maybe hypothetical conditions utilized in the forming the opinions and conclusions of the primary appraiser generated information. 22. There maybe extraordinary assumptions utilized in the forming the opinions and conclusions of the primary appraiser generated information. Extent of the Analysis & Associated Research 23. The following analysis and associated research have been performed in conjunction with the main opinion of value: 24. The cost approach was performed by adding the cost new of the improvements less accrued depreciation to the site value. The opinion of the cost new of improvements was formed either by referencing a nationally recognized cost manual, the appraiser's first hand knowledge of the market, or a combination of both. The opinion of the site value was formed by a comparison of the subject to other similar properties that have a marketing history. Continued on Page 2..... Produced using ACI software, 800.234.8727 www aciweb.com
Page 34
Continued from page 1..... 25. An opinion of the site value was formed by the Direct Comparison Approach. A qualitative analysis considering the land size, date of sale and location were considered. The comparable properties were obtained from the local MLS and/or Tax office. The tax data was supplied by a third party provider. The physical property characteristics, sales price, and date were not verified by any other source. However, the second hand data records were analyzed for errors and inconsistencies. The records with errors and inconsistencies were not used. Records that showed a large discrepancy from the other data was not used. 26. A recognized cost manual was used to obtain the cost rate per unit. This manual did adjust this estimate based on location by region, and by a time factor. 27. The age life method was used to estimate the physical depreciation. In this method the effective age of the improvements is divided by the anticipated total life of the property to derive an estimate of the percentage that the improvements have physically deteriorated. 28. The Direct Sales Comparison was performed by an analysis in which the subject is compared to similar properties that have a recent marketing history. 29. An opinion of the value was formed by the Direct Comparison Approach. A qualitative analysis considering at least the size of the improvements, land size, date of sale and location were considered. 30. The comparable properties were obtained from the local MLS and/or Tax office. The tax data was supplied by a third party provider. The physical property characteristics, sales price, and date were not verified by any other source. However, the second hand data records were analyzed for errors and inconsistencies. The records with errors and discrepancies were not used. Records that showed a large discrepancy from the other data was not used. 31. The following analysis and associated research have been performed in conjunction with the opinion of the site value: 32. An opinion of the site value was formed by the Direct Comparison Approach. A qualitative analysis considering the land size, date of sale and location were considered. The comparable properties were obtained from the local MLS and/or Tax office. The tax data was supplied by a third party provider. The physical property characteristics, sales price, and date were not verified by any other source. However, the second hand data records were analyzed for errors and inconsistencies. The records with errors and inconsistencies were not used. Records that showed a large discrepancy from the other data was not used. Additional Information 33. Exposure Time is defined as "The estimated length of time the 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." (The Dictionary of Real Estate Appraisal, Fourth Edition, page 105) 34. There are no significant changing environmental, economic, government, or social trends in this market. No major events have occurred or are expected to occur subsequent to the data analyzed in the "exposure time" analysis that indicate changes in the market conditions. For this reason the anticipated marketing time is the same as my opinion of the subject's exposure time. Reasonable marketing time is defined as an opinion of the amount of time it might take to sell the property interest being appraised at the concluded market value immediately after the effective date of the appraisal. It is a function of price, time, use, and anticipated market conditions. (This is fashioned from USPAP 2004, page 141.) The user should rely on this opinion with caution, as the appraiser cannot foresee spastic changes in the economy. 35. The current and projected use is as a single-family dwelling. Appraisers Certification | CERTIFY THAT TO THE BEST OF MY KNOWLEDGE AND BELIEF THAT: 36. |, the appraiser, did personally make a visual inventory of the subject property while walking over the land, through the interior, and around the exterior of the subject property. 37. No fees were paid or received in the procurement of this assignment. Produced using ACI software, 800.234.8727 www aciweb.com
Page 35
ANSI 2765-2021 Approved March 29, 2021 ANSI Z765-2021 is only intended for use with single family, attached or detached houses. It is not intended for multi-family or condominium units. The ANSI Z765-2021 (American National Standards Institute®) Square Footage-Method has been utilized for measuring, calculating, and reporting the gross living area (GLA) and non-GLA areas of subject property for appraisals of single family dwellings requiring interior and exterior inspections. As noted elsewhere in this report, 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. The portions of the ANSI standards that will most often impact market participants, include, but are not limited to: * Standard method for measuring the dwellings to the inch or to a tenth of a foot. Appraiser typically measures properties to a tenth of a foot using both an appraisers tape measure or laser measuring device; * Standards regarding dimensions of a room (including minimum height) in order to be considered GLA; * Standards regarding above vs below grade living area In the subjects market, GLA for properties listed in the local MLS systems, assessor records and/or other online sources, usually are not ANSI-compliant. The appraiser may not know what method an MLS listing or assessor used to calculate the GLA, though most often in the subjects market MLS listings use information from the assessor records (assessors are not typically ANSI-compliant within the marketplace). Differences in dimensions between a builders floorplan, assessor records and/or an MLS listing and appraiser measured dimensions occur as construction is not an exact science and includes variances from the floorplan, such as siding/insulation thickness. This difference in measured GLA vs floorplan GLA is often negligible and adjustments are not made for small differences in GLA, as noted in the sales comparison analysis. When considering finished living area, the ANSI standard, and applying the standard when developing an appraisal report, the finished living area may be broken down to three different areas: * Below grade finished area, including basements. If any part of a floor is below grade, than the entire floor must be considered below grade. * Above grade finished area, reported as GLA, includes all areas above grade that meet the requirements set forth in the standard for dimensions and livability. * Other finished areas, reported as an additional line item, that are not included in the below and above grade areas that are finished. As noted above, the market, through MLS listings, assessor records or other online sources, usually does not adhere to the ANSI standards and may include below grade and/or other finished areas as above grade GLA. The ANSI standard is a defined method for measuring living area and does not necessarily follow market trends and expectations. Through research and knowledge of the local market, appraiser will determine if the GLA provided through alternate sources should be adjusted. Any GLA adjustments made to the comparable properties utilized in this report are based on the review of records available during the completion of this assignment. Readers of this report should note that there are three different areas in an appraisal report where finished living area is reported, as noted above, and each area is valued independently. However, this does not necessarily mean that they will have a different value. For example, a tri-level home with two of the three total levels above grade will likely have a similar adjustment per square foot between the above and below grade finished areas. In the example of a tri-level home, often the GLA reported through an MLS listing, tax records and/or other online sources would consider all finished living area despite a portion being partially below grade. Therefore, most market participants would also consider all of the area as livable area, however the ANSI standard and this appraisal report, would not. When multiple types of finished areas are observed for the subject, commentary will be added providing an explanation regarding the value of each finished area and how the comparable properties GLA compare to the subject and the impact the ANSI standard has had versus typical market expectations. The above is informational only and does not cover all parts of the ANSI standard and any examples are general examples and do not necessarily apply to the subject property. Specific commentary regarding if the ANSI standard has impacted the reporting of the subjects living area can be found in the analysis contained in the appraisal addendum. If the reader would like to learn more about the ANSI standard, they are advised to look into the standard through Home Innovation Research Labs. DECLARATIONS: (1) ROUNDING: The property was measured to the nearest inch or tenth of a foot; the final square footage is reported to the nearest whole square foot. (2) REPORTING OF ABOVE & BELOW GRADE AREAS: Above-grade areas and below grade areas will be clearly identified and will receive separate distinction. (3) AREAS NOT CONSIDERED FINISHED SQUARE FOOTAGE: Finished areas that meet criteria will be included in square footage. Unfinished above and below grade areas will be clearly identified and will receive separate distinction. Refer to definitions below. (4) EXTERIOR DIMENSIONS: Unless otherwise stated exterior dimensions were used. If there was no interior inspection this is stated as such when reporting the result of the calculation. (5) USE OF PLANS: Calculation of square footage for a proposed house made using plans will be stated as such when reporting the result of the calculation. (6) USE OF OTHER METHODS: If direct measurement of the structure is not possible (ex: difficult terrain, obstacles, etc.) then measurements obtained through some other means can be susceptible to inaccuracy. Calculation of square footage developed under such circumstances will be identified as such when reporting the result of the calculations. EXCEPTION PROCESS: If the appraiser is unable to adhere to the ANSI Standard, the appraiser will provide the code "GXX001-" in the Additional Features field on the appraisal form and will explain why compliance was not possible. Produced using ACI software, 800.234.8727 www aciweb.com
Page 36
ValueTec Appraisal Services, Inc. 9500071872 Appraiser Independence Certification File No. CCU15D25R1 Borrower: David Huhn Property Address: 7313 W Mount Hope Hwy City: Mulliken County: State: MI Zip Code: 48861-9626 Lender/Client: Consumers Credit Union I do hereby certify, | have followed the appraiser independence safeguards in compliance with Appraisal Independence and any applicable state laws | may be required to comply with. This includes but is not limited to the following: = | am currently licensed and/or certified by the state in which the property to be appraised is located. My license is the appropriate license for the appraisal assignment(s) and is reflected on the appraisal report. = | certify that there have been no sanctions against me for any reason that would impair my ability to perform appraisals pursuant to the required guidelines. | assert that no employee, director, officer, or agent of the Lender/Client, or any other third party acting as joint venture partner, independent contractor, appraisal company, appraisal management company, or partner on behalf of the Lender/Client, influenced or attempted to influence the development, reporting, result, or review of the appraisal through coercion, extortion, collusion, compensation, inducement, intimidation, bribery, or in any other manner. | further assert that the Lender/Client has never participated in any of the following prohibited behavior in our business relationship: 1. Withholding or threatening to withhold timely payment or partial payment for the appraisal report; . Withholding or threatening to withhold future business, or demoting or terminating, or threatening to demote or terminate my services; . Expressly or implicitly promising future business, promotions, or increased compensation for my services; Bs won . Conditioning the ordering of the appraisal report or the payment of the appraisal fee or salary or bonus on my opinion, conclusion or valuation reached, or on a preliminary value estimate requested; 5. Requesting an estimated, predetermined, or desired valuation in the appraisal report, prior to the completion of the appraisal report, or requesting estimated values or comparable sales at any time prior to the completion of the appraisal report; 6. Providing an anticipated, estimated, encouraged or desired value for the subject property, or a proposed or target amount to be loaned to the Borrower, except that a copy of the sales contract may have been provided if the assignment was for a purchase transaction; 7. Providing stock or other financial or non-financial benefits to me or any entity or person related to me, my appraisal or appraisal management company, if applicable; 8. Any other act or practice that impairs or attempts to impair my independence, objectivity or impartiality, or violates law or regulation, including but not limited to, the Truth in Lending Act (TILA) and Regulation Z, or the Uniform Standards of Professional Appraisal Practice (USPAP). Additional Comments: The appraiser certifies and agrees that this appraisal was prepared in accordance with the requirements of Title XI of the Financial institutions, Reform, Recovery, and Enforcement Act (FIRREA) of 1989, as amended (12 U.S.C. 331 et seq.), and any applicable implementing regulations in effect at the time the appraiser signs the appraisal certification. APPRAISER: SUPERVISORY APPRAISER (only if required): 7 ve rd Signature: y 7) yar a 7 / 7 &_ Signature: Name: rian Matt Duchene Name: Date Signed: 07/21/2025 Date Signed: State Certification #: State Certification #: or State License #: 1203069706 or State License #: or Other (describe): State #: State: State: Mi Expiration Date of Certification or License: Expiration Date of Certification or License: 07/31/2026 Produced using ACI software, 800.234 8727 www. aciweb.com 'AIRCS_14 04082014 ValueTec Appraisal Services, Inc.
Page 37
ValueTec Appraisal Services, Inc. 9500071872 USPAP ADDENDUM File No. CCU15D25R1 Borrower: David Huhn Property Address: 7313 W Mount Hope Hwy City: Mulliken County: State: MI Zip Code: 48861-9626 Lender: Consumers Credit Union APPRAISAL AND REPORT IDENTIFICATION This report was prepared under the following USPAP reporting option: Appraisal Report A written report prepared under Standards Rule 2-2(a). [J Restricted Appraisal Report A written report prepared under Standards Rule 2-2(b). Reasonable Exposure Time My opinion of a reasonable exposure time for the subject property at the market value stated in this report is: 0-3 Months The opinion of reasonable exposure time for the subject property is from 0-3 Months. Exposure Time is defined as "The estimated length of time the 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." (The Dictionary of Real Estate Appraisal, Fourth Edition, page 105) Additional Certifications 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. [JI HAVE performed services, as an appraiser or in another capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. Those services are described in the comments below. | have not preformed other services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period prior to the acceptance of this assignment. Appraiser has no present of prospective interest in subject property of this report, appraiser has no personal interest or bias with respect to parties involved. Compensation is not contingent on an action of event resulting from the analysis, opinion or conclusions in, or the use of, this review report. Analysis, opinions and conclusions were developed, and report has been prepared, in conformity with Uniform Standards of Professional Practice. Additional Comments Clarification of Intended Use and 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. APPRAISER: SUPERVISORY APPRAISER (only if required): Signature: _z d Signature: Name: Bridn Matt Duchene Name: Date Signed: 07/21/2025 Date Signed: State Certification #: State Certification #: or State License # 1203069706 or State License #: or Other (describe): State #: State: State: MI Expiration Date of Certification or License: Expiration Date of Certification or License: 07/31/2026 Supervisory Appraiser inspection of Subject Property: Effective Date of Appraisal: 07/15/2025 Did Not (J Exterior-only from street (J Interior and Exterior Produced using ACI software, 800.234.8727 www. aciweb.com USPAP_1404272015
Page 38
AERIAL MAP File No.: ccu 25R1 Borrower: David Huhn Property Address: 7313 W Mount Hope Hwy Case No.: 9500071872 City: Mulliken State: MI Zip: 48861-9626 Lender: Consumers Credit Union & 4 = W'Mt' Hope Hwy Mt'Hope Hwy W Mt HopelHwy Subject 7313 W Mount Hope Hwy Mulliken, MI 43861-9626