Se ye 2, @O SNA STATE OF FLORIDA te Spa DEPARTMENT OF BUSINESS & PROFESSIONAL REGULATION: G. te A FLORIDA REAL ESTATE APPRAISAL BOARD "ifs Go Y “SL, FLORIDA DEPARTMENT OF BUSINESS & : PROFESSIONAL REGULATION,, DIVISION OF REAL ESTATE, Petitioner, v. CASE NO. 2004009649 JACK V. CAVE, 0 lo 2 SO] PL Respondent. ; / ADMINISTRATIVE COMPLAINT The Florida Department of Business & Professional Regulation, Division of Real Estate ("Petitioner") files this Administrative Complaint against Jack V. Cave (“Respondent"), and alleges: ESSENTIAL ALLEGATIONS OF MATERIAL FACT 1. Petitioner is a state government licensing and regulatory agency charged with the responsibility and duty to prosecute Administrative Complaints pursuant to the laws of the State of Florida, including Section 20.165 and Chapters 120, 455 and 475 of the Florida Statutes, and the tules promulgated thereunder. 2. Respondent is currently a Florida registered trainee appraiser having been issued license’ 10295 in accordance with Chapter 475 Part If of the Florida Statutes. 3. The last license the State issued to Respondent was as an inactive registered trainee appraiser at 1262 Delmar Street, Lot 10, Jacksonville, Florida 32205. 4. On or about August 27, 2003, Respondent and Billie D. Walter developed and communicated a complete summary appraisal report (Report) for property commonly known as 8493 FDBPR v. Jack V. Cave Case No. 2004009649 Administrative Complaint English Oak Drive, Jacksonville, Florida 32244 (Subject Property). A copy of the Report is attached hereto and incorporated herein'as Exhibit 1. 5. The Report estimates the value of the Subject Property as $105,500. 6. The Report misstates the sales history for the Subject Property. 7. The Subject Property sold in September, 2002. 8. The Report fails to mention this prior sale. 9. The Report misstates the Subject Property’s zoning and homeowners’ association information. 10. The Report lists the Subject Property as 5,500 sq. ft. and then as 6,795 sq. ft. 11. The Report states that the Subject Property contained a fireplace. 12. The Report makes adjustments based on its statement that the Subject Property contains a fireplace. 13. At all times material the Subject Property did not contain a fireplace. 14. Therefore, the Respondent made improper adjustments in the comparison sales analysis section of the Report as they relate to the fireplace feature. 15. The Report contains photographs of Comparable Sales 1, 2, and 3 (Comp Photos). 16. The Comp Photos are not photographs of the properties of which they purport to be. 17. The Report does not mention or analyze the pending sales contract relating to Subject Property. 18. Respondent did not properly inspect the Subject Property or the comparable sales utilized in the Report. to FDBPR v. Jack V. Cave Case No. 2004009649 Administrative Complaint 19. Respondent signed the Report. 20. Respondent failed to use an appropriate license designation in the Report. COUNTI Based upon the foregoing, Respondent is guilty of having failed to exercise reasonable diligence in developing an appraisal report in violation of Section 475.624(15), Florida Statutes. COUNT IE Based upon the foregoing, Respondent has violated a standard for the development or communication of a real estate appraisal, specifically Standards 1 and 2, Ethics Rule, Departure Rule and Supplemental Standards Rule, or other provision of the Uniform Standards of Professional Appraisal Practice (2003) in violation of Section 475.624(14), Florida Statutes. COUNT I Based upon the foregoing, Respondent is guilty of failing to use proper designation in violation of Rule 61J1-7.002, Florida Administrative Code and Section 475.622, Florida Statutes and, therefore, in violation of Section 475.624(4), Florida Statutes. COUNT IV Based upon the foregoing, Respondent is guilty of misrepresentation in any business transaction in violation of Section 475.624(2), Florida Statutes. WHEREFORE, Petitioner respectfully requests the Florida Real Estate Appraisal Board, or the Department of Business and Professional Regulation, as may be appropriate, to issue a Final FDBPR v. Jack V, Cave Case No. 2004009649 Administrative Complaint Order as final agency action finding the Respondent(s) guilty as charged. The penalties which may be imposed for violation(s) of Chapter 475 of the Florida Statutes, depending upon the severity of the offense(s), include: revocation of the license, registration, or certificate; suspension of the license, registration or certificate for a period not to exceed ten (10) years; imposition of an administrative fine of up to $5,000 for each count or offense; imposition of investigative costs; issuance of a reprimand; imposition of probation subject to terms including, but not limited to, requiring the licensee, registrant, or certificate holder to complete and pass additional appraisal education courses; publication, or any combination of the foregoing which may apply. See Section 475.624, Florida Statutes and Rule 61J1-8.002, Florida Administrative Code. The penalties which may be imposed for violation(s) of Chapter 455 of the Florida Statutes, depending upon the severity of the offense(s), include: revocation of the license, registration, or certificate; suspension of the license, registration, or certificate for a period not to exceed ten (10) years; imposition of an administrative fine of up to $5,000 for each count or offense; imposition of investigative costs; issuance of a reprimand; imposition of probation subject to terms including, but not limited to, requiring the licensee, registrant, or certificate holder to complete and pass additional appraisal education courses; publication; restriction of practice; injunctive or mandamus relief; imposition of a cease and desist order; or any combination of the foregoing which may apply. See Section 455.227, Fla. Statutes and Florida Administrative Code Rule 61J1-8.002. FDBPR v. Jack V. Cave Case No. 2004009649 Administrative Complaint SIGNED this A day of. Bomsire, 2004. Florida Department-of Business Professional Regulation ; By: py 8 ey a Director, Division of Real Estate : Fea ner tre Department Of Professional Regutatitite Division of Real Estate ae ATTORNEY FOR PETITIONER U)2 Igy ATTORNEY FOR PETITIONER Stacy N. Robinson Pierce, Senior Attorney Fla. Bar No. 182796 Division of Real Estate Legal Section 400 W. Robinson Street, N801 Orlando, Florida 32801-1757 (407) 481-5632 (407) 317-7260 - FAX. PCP: MM/CK 11/04 NOTICE TO RESPONDENTS PLEASE BE ADVISED that mediation under Section 120.573 of the Florida Statutes, is not available for administrative disputes involving this type of agency action. PLEASE BE FURTHER ADVISED that pursuant to this Administrative Complaint you may request, within the time proscribed, a hearing to be conducted in this matter in accordance with Sections 120.569 and 120.57 of the Florida Statutes; that you have the right, at your option and expense, to be represented by counsel or other qualified representative in this matter; and that you have the right, at your option and expense, to take testimony, to call and cross-examine witnesses, and to have subpoena and subpoena duces FDBPR v. Jack V. Cave Case No. 2004009649 Administrative Complaint tecum issued on your behalf if a formal hearing is requested. PLEASE BE FURTHER ADVISED that if you do not file an Election of Rights form or some other responsive pleading with the Petitioner within twenty-one (21) days of receipt of this Administrative Complaint, the Petitioner will file with the Florida Real Estate Appraisal Board a motion requesting an informal hearing and entry of an appropriate Final Order which may result in the suspension or revocation of your real estate license or registration. Please see the enclosed Explanation of Rights and Election of Rights form. JC3A1953 Fig No, SUMMARY REPORT weeeeenee INVOICE *ttteeees File Number: SUMMARY REPORT . " JC3A1953 BEST MORTGAGE LOAN 5700 ST. AUGUSTINE RD. JACKSONVILLE, FUN32207 ATIN: CARLOS ° Borrower : Invoice #: Order Date: Referance/Case #: PO Number : SHAYA GOMEZ 8493 ENGLISH OAKS DRIVE JACKSONVILLE, FLA, 32244 FULL APPRAISAL\REPORT Invaice/Total State falas Tax @ Amgunt Due Terms: NET 10 DAYS Pleasa Make Check Payable To: ASSOCIATED CERTIFIED APPRAISERS, INC. 1262 DELMAR STREET JACKSONVILLE, FLA, 32205 Fed, |.D. # # 59 325-8703 THANK YOU FOR YOUR BUSINESS ADMINISTRATIVE COMPLAINT exHisit #_l PAGE _. f OF exnipit#/0B Pacey 17 bo JC3A1953 Fie No, SUMMARY REPORT APPRAISAL OF SHAYA GOMEZ AS OF: August 27, 2003 BY: JACK CAVE 44-30-2004 ADMINISTRATIVE COMPLAINT 177 . a : _ JC3A1953 Faia No. SUMMARY REPORT BEST MORTGAGE LOAN BEST MORTGAGE LOAN 5700 ST. AUGUSTINE RD. JACKSONVILLE, FLA. 32207 File Number: SUMMARY REPORT In accordance with your request, | have personally inspected and appraised the real property at: 8493 ENGIDSH OAKS DRIVE 5 05,501 One Hundred Five Thousand The attached report contains the description, analy, is and supportive data for the conclusions, final estimate of value, descriptive photographs, limitinggonditions and appropriate certifications. Cu JAS CAVE 41-30-2004 AOWHMIS TAA LIVE COMPLAINT EXHIRIT gt | - PAGE 3 OF (78 JC3A1953 Property Deseription UNIFORM RESIDENTIAL APPRAISAL REPORT Flle No. SUMMARY REPORT. Proporty Addross 493 ENGLISH OAKS DRIVE Cily JACKSONVILLE: Stats FLA, ZipCode 32244 Logal Deseriplion LOT-104, ORTEGA, CROSSING, U-3, 54-52 32-35-266 County DUVAL Assessor's Parca] No. 99135-6255 Tax Yeer 2002 RE. Taxes $ 343.10 Spadal Assessment 2) noua SHAYA GOMEZ Curent Owner HEATHER HARRIS Qceupant: [X] Owner fet Property hts appraised —_(X] Fea Strole | Theasehott | Projact Type] PUD Condominium (HUDIVA ont Fal Naighborrood or Project Nama ORTEGA CROSSING Map Rofarenca_ 2973 Cons Sale Prics S$ N/A Date of Sala N/A, Description and $ amount of loan chargesicancgssions lo he paid by sokor_NiP ‘Address 5700 ST. AUGUSTINE RD. JACKSONVILLE, FLA. 32207 Addmss 1282 DELMAR ST. JACKSONVILLE, FL._32205 Location Urban XK] Suburten {_) Rural Predominant | Single family housing | Present land use % | Land use change Buil up {X] over75% - () 25-76% {_] undoras% | Scepancy Elona family _ 100% | [X] nat nroty —C) Likely Growth mate Repid X] stable {_] slow Dc] owner 98 1] 2-4 tamay C1 in process Property vatuos (XJ increasing (_] stable (| Doctining X] Tenant OZ 4 | Mutiiamiy To: NIA Demandisipply (_) shortaga — [XJ inbalanoo Orrsuppy | OX) vont osx) Commercial NIA Markoting time Under ames. |X| 36 mos. Over i mos. Maezst (over 5%) 90 2 LL Ml Note: Race and the racial composition of the nelghbarhood are not appraisal factors. . Noightorood boundaries and charactoristics: BOUNDARIES ARE:DUVAL COUNTY LINE SOUTH, BLANDING BVD. WEST, COLLINS RD. NORTH & U.S#17 HWY_EAST.-MOSTLY SINGLE-FAMILY RESIDENTIAL IN THE AREA. Factors that affect! the marketability of {ha propentios in the acighbarhood (proximity to employment and amenttios, employment slabliily, appont to markal, elc.): THE SUBJECT MARKET AREA, HAS BEEN ESTABLISHED FOR SEVERAL YEARS. THE HOMES IN THIS AREA ARE FRAME, STUCCO & BRICK, & THE NEIGHBORHOOD IS RECENTLY BEEN DEVELOPED. CONFORMITY SEEMS GOOD. GOOD STREET PATTERNS AND SOME AMENITIES ARE IN AREA THIS AREA IS APPEALING TO THE MARKET. LOCATED VERY CLOSE TO A MAJOR SHOPPING MALL. || NEIGHBORHOOD Market conditions in tho subjact nelghborhood (including support far the above ‘conclusions related to the trend of proparty valuos, demand/supply, and markating time «such as date on competllive propartles for salo in tha nalghborhood, doseriplion of the provalance of salos and financing concoselans, ate.): THE MARKET IS CURRENTLY SHOWING AN INCREASE, WITH MORTGAGE FUNDS AVAILABLE AT AFFORDABLE INTEREST RATES, TO QUALIFIED BUYERS. THERE IS NO.EVIDENCE OF BUYDOWNS, REBATES OR CONCESSIONS, THAT WOULD HAVE AN EFFECT ON CURRENT MARKET CONDITIONS. Py Project information for PUDs (If applicable) - - 1s the davelaparbullder in contiphof the Home Ownars’ Assectatlan (HDA)? yes (Jno z Approximate total number of unils in the subject projact 157 «Approximate folal number of units for sale in the subject projact 6 Dnscribe common slements and recreational facifities: COMMON GROUNDS - ENTRANCE SIGN - ETC. Dimensions 55 X_ 100 ( SUBJECT TO A SURVEY } a Topography STREET LEVEL Sia aoa 5500 Sq.Ft. Comer Lat (J Yas [X)No | size STANDARD Spocifc zoning classification and description SINGLE-FAMILY REBIDENTIAL Shapo RECTANGULAR Zoning compliance (K} Lega! ‘Legal nonconforming (Grandfalhered usa) { Mlogal Oo No p6ning |. Drafnage APPEARS ADEQUATE fighwst & hos! uso as Improved: [X] Present use (_] Other veo (explain) WA View AVERAGE. Utititles Publi Off-site Improvements Public Private] ‘ Landscaping TREES/SHRUBS. Strat 2-LANE_ASPHALT (1 | ovveway Suritca §=© CONCRETE gk 7 = Apparent oasoments STANDARD D. & UTILITY \ / FEMA Special Fload Hazard Amaa = [_] Yos [XJ No Sanitary sower NY/ CJ | FEMAZone ( X ) Map Dale 8-15-1989 Stonn sawor X (CC) Fema Map No. 120077 0150 & slide araas, illegal of lagal nonconforming zoning, usa, ate,); ~NO- ADVERSE \ CURRENT SURVEY AND FLOOD ZONE DESIGNATION. Floors CPTTILE-GOOD | typo GENT. | Rotigomter —[X] Watts DRYWALL-GOOD | Fut ELECT. | RangelOven [x] TimFnish WDIPAINT-GOOD | ContiimGOOD _| Disposal QJ Bath Foor ~~ TILE- GOOD COOLING Dishwasher [XK Bath Wainscot GERMTILE-GOOD | Contral ELECT. | Fantttood x. Doors §-PANEL-GOOD __| Other N/A Microwave X] | Heated 7 Condition OOD Washer/Dryer Finished Diitiona! fontures (spacial energy efficiont Hams, ote); COVERED ENTRY PORCH - PATIO - FIREPLACE - CEILING FANS ~ ETC. Nona Stake Omp Star = Soultle x] Floor Firoptaco(s) fONE. IX] | None Patio CONCRETE {X} | GaragaTWO #of cars Deck Allachod YES Porh COVERED — [XJ ] Detached Fence Buttn Pool GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNQATION BASEMENT INSULATION fee No. of Units 4 Foundation CONCRETE _| Slab CONCRETE Ama SqFt. N/A Roof No, of Storiag, 1 Exterlor Walts. “| Orr Spach NO. %Finishad =N/A Coiting Xx Typo (DatJalt.) DET. Roof Surface | Basement WO Coiling NIA Walls Xx Design (Sty!a) RANCH Gullors & Dwnspts. NOJNO ‘Sump Pump NO Walts NIA Floor O Pa ExisingProposed. YES/NO Window Typo Dampness Nohe noted Floor NIA Nono C) fry Aga (Yrs.) 1 StomvScraens Setlloment Nonexnated Oulsda Entry N/A. Unione (_} fd Effective Age (Vrs.) 41 Manufactured House WO, Infestation None noted NA R-FACTOR UNK. fa] ROOMS Foyer | __ Livin Dining | Xitchon Don | Famly Rm] Rec. fim. | Bodrooms | ypsths | Laundry | Qthor | Ama SqFt. i Basement Fe Levelt 1 4 i 1 3. {2 4,339 fe} Loval 2 Zz [oJ aa fq_Finishod arma above grade contains: 6 Rooms: 3 Bedroom(s): aso Feat af Gross Living Ama = INTERIOR MaloralsCondition HEATING KITCHEN EQUIP, AMENITIES CAR STORAGE: 8 5 Condition of the improvements, depreciation (physical, functional, and extemal), repairs needed, qualify of construction ramadekingladditions, alc.: SUBJECT APPEARS TO BE IN GOOD CONDITION. NO NOTICIBLE FUNCTIONAL OR EXTERNAL INADEQUACIES HAVE BEEN NOTED. Adverse environmental conditions (such as, bul nol limited lo, hazardous wastes! tdaid Vabatances) ate prepayifan | 2 imprqvemen(s, ay she eile, erin the Immediate vicinity of tha subject property: See Attached Addendum. _. RUA eal] i { ERAIBIT edie Faw 03 PAGE 1 OF 2 a a ae ° reecstnny Kinteey BoPAreyerescnnncom PAGE Ya. oe OF a , 494 — Voluation Section UNIFORM RESIDENTIAL APPRAISAL REPORT reno. SUMMARY REPORT ESTIMATED SITE VALUE, ws 26.000 | Comments on Cost Approach {such as, source of cos! oslimala, ESTIMATED REPRODUCTI a silo value, square fool calculation and for HUD, VA and FmHA, the Drolling 1,339 Sq.Ft. @$__48,00 = 64,272 estimated ramaining economic life of the properly): ENT. PORCH 5g. FL @S. = 600 ESTIMATED COST NEW WAS OBTAINED FROM ray PATIO = 400 NATIONAL COST SERVICES. THE FLOOR AREA hy GarageCapod 407 Sq.Fl. @$__28.00 = 11,395 ESTIMATE SHOULD BE CONSIDERED AS AN <4 Total Estimated Cast New =$ 76,668 APPROXIMATION, WITH MINOR DEVIATIONS _IN Less Physical | Funcilonal | Extemat Est. Remaining Econ. Life: 49 ACTUAL SQUARE FOOTAGE BEING OF LITTLE OR ey Depreciation $1,396 | -0- b- =$ 1,396 NO_ CONSEQUENCE. ***NOTE: WALK - DRIVEWAY - Depradialed Value of Improvements s 75,272 | LANDSCAPING - ETC. “Acts” Value of Sita Impravament 5,500 INDICATED VALUE BY COST APP! $ 106,800 TEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO, 3 8493 ENGLISH OAKS DRIVE 5538 OAK CROSSING DR. {8311 OAK CROSSING DR. |8377 OAK CROSSING DR. Address JACKSONVILLE JACKSONVILLE JACKSONVILLE JACKSONVILLE Proximity lo Subject i 3_BLKS, N. APPX. 4 BLK. NO. APPX, 1/2_ BLK... N. APPX. Salos Price $s NIA Ss 401,900 : $ 403,000 . $ 103,900 PricovGross Liv. Ara |S, 0.00 als 74.93 0 _ ds 77.79 A s 78.47 a Data endfor INSPECTION WINN-DATA/ PUB, RECORDS, | WINN-DATA/ PUB. RECORDS. | WINN-DATA/ PUB. RECORDS. Verification Sources_| PERSONAL DOM - UNK DOM -_UNK. OOM - UNK VALUE ADJUSTMENTS. DESCRIPTION DESCRIPTION + ().5 Aajuytryent DESCRIPTION 26) 8 Adjuatrent DESCRIPTION +) 3 Adfustrert Salas orFmancing | NIA - “TRHA. Oo} VA. —| Oo] CONV. i Concessions NA’ "| NONE KNOWN } NONE KNOWN _} NONE KNOWN } DaloofSoleffime | N/AL es + 27-2002 4 1,000 | 5-21-2003 ‘ 4-18-2003 t Location JACKSONVILLE |JACKSONVILLE | JACKSONVILLE { JACKSONVILLE | LousoholiFoe Simla | FEE SIMPLE. FEE SIMPLE FEE SIMPLE + FEE SIMPLE | sta 8795 SQ. FT. 6795 SQ.FT. ¢ Hy 0/6795 SQ.FT. 0 View AVERAGE AVERAGE H H AVERAGE H and Anpoat_ [RANCH/GOOD }RANCH/GOOD } RANCH/IGOOD_! RANCH/IGOOD _! —T oaConsudon | GOOD GOOD. ‘ Goob : GOOD H 1 YR. 7 YRS. H 1,200/2 YRS, t 200/2 YRS. H 200 Conditton GOOD __ GOOD Hi GOOD. A GooD Above Grado ois! | Bekms | Bslha | Total Borme | Bathe Hy | Totat | ska! Bathe : Toll | Boma} tatin | =4 Room Count 2.00 1 31 2.00¢- 6 3! 2.00! . 6: 3: 2.00! = Gross Living Aroa 1,339 Sofi, ,360 Sq, { [:} 4,324 SuFL_t ie} 4,324 SqFt} id Basoment & Finishod | 0 Sq.Ft. NIA H NIA : NIA i Rooms Botow Grado_| N/A NIA H NIA H NIA H | Ed Functional utity | GOOD. GOOD : GOO} H GOOD t Hoating!Cooiin CENT. HTJAC. |CENT. HT/AC. ¢ CENT. HT/AC. | CENT. HT./AC. + Emicont toms_{ ENGY. PKG. ENGY. PKG. INGY. PKG. { ENGY. PKG. Gora ort * 2- CAR GAR. |2- CAR GAR. } 2- CAR GAR. 2, CAR GAR. Porth, Palla, Dack, | COV, PORCH COV.PORCH COV.PORCH COV. PORCH; aces), atc. 1- FIREPLACE _|NO FIREPLACE | 1,500)NO FIREPLACE } 1,500|NO FIREPLACE | 1,600 Fence, Pool, ofc. PATIO PATIO \ TIO, u PATIO. { Not Adj (total IX] + -f$ 3,700] [x] + - 13 4,700 | [x] + - is 4,700 ‘Adjusted Sates Prica :| Gross: 3:6! Grows: 1. Gross.'1:6% of yarabile Hot: 36%" $ 405,600 [Met: “1.7% - § 104,700 |Not: 1.6% $ 405,600 Commants on Salas Comparison (Including the subjéct proporty's compalibiily to tha noighbarhaad, atc. 3 SUBJECT IS COMPATIBLE WITH THE NEIGHBORHOOD, ADJUSTMENTS MADE IN "GRID" SECTION WERE ADJUSTED FOR DISSIMILAR FEATURES AT TIME OF RESPECTIVE SALE. COMPS..AN SAME NEIGHBORHOOD, ALL COMPS., WERE EXTREMELY SIMILAR TO THE SUBJECT HOME_IN_LIVI| APPEAL, DESIGN, AGE, LOT SIZE, ETC. fo EM. f_ SUBJECT COMPARADLE NO. t COMPARAGLE NO. 2 I COMPARABLE NO, 3. Dato, Pico and Datla’ NOT SOLD IN NOT SOLD IN PAST 3 YEARS |NOT SOLO IN PAST 3 YEARS |NOT SOLD IN PAST 3 YEARS ‘Source for priorsales/ | PAST 3 YEA! NIA NYA NIA within yosr of N/A NIA NIA NIA Analysis of any cul aman Gf sale, option, oF istingnfTireréobjoct property ank analysis of any prlor eales of subject and comparables within one yoar of the date of spprafsal: ACCORDING TO THE PUBLIC REC! EN _NO OTHER TRANSFERS OF THE SUBJECT PROPERTY WITHIN PAST THREE YEARS. INDICATED VALUE BY SALES COMPAR} INDICATED VALUE BY INCOME APPROA\ This appraisal fs mada {| sabjget to tha ropa lloronsfnspoctions or contionsEstod bok Condifons afAppraisat ~See Attached Addenduin- ‘subjed {0 completion per plans and macifications. Final Raconciiallon: THE FINAL VALUE ESTIMATE WAS OBTAINED FROM SALES COMPARISON APPROACH, WHICH REFLECTS THE ACTIONS OF BUYERS & SELLERS IN THE OPEN MARKET, INCOME APPROACH NOT APPLIED, AS Fe] SUBJECT 1S OWNER OCCUPIED. & The purpose of this appraisal is to ostimate (ha market ¥atue of the real property Lhat Is the subject of this report, based an the above conditions and tha certification, contingent =] and Smiling conditions, and markel value dafinilfon that are slated in tho attached Freddie Mac Forni 439/Fannde Mae Form 10MB (Revised 6/93, a Fed 1 (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT ISTHE SUBJECT OF THISREPORT,ASOF AUG. 27, 2003 Hy (WHICH IS THE Dy OF INSPECTION AND THE EFFECTIVE DATE OF THISREPORT)TOBES$ 105,500 Fd APPRAISER: SUPERVISORY APPRAIS| RED): Signature OAL (jo = (pia not Name BILE WALTER Inspect Proporty Dale Report Signed AWG. 27, 2003 ' Date Report Signed AUG. 27, 2003 Slate Certificalion # \ { Stato FL. A\ Btalo/Ceitifcation #—STnGERT. GEN, APBR. #RZ 624 State FL, OrState License # STi REG. ASST. RHA#RI 10295 Stale FL GrSiate Licenses TEV UUIVIFLA Stale i 30-004 ‘aia Frade ec FomT0 631 a pmoeniore nei SEA, aft ( ' ‘Fania Maw Fasn 1004 B07 . Certified Apprais ervice, Inc. 57 . PAGE 2 OF hae ———_—— / 90 ADDENDUM Borrower: SHAYA GOMEZ File No: SUMMARY REPORT. Property Address: 8493 ENGLISH OAKS DRIVE Case No. City: JACKSONVILLE ‘State: FLA. Zip: 32244 Lender, BEST MORTGAGE LOAN Adverse Environmental Conditions THE APPRAISER HAS NO KNOWLEDGE OF HAZARDOUS MATERIALS AND IS NOT QUALIFIED TO TEST FOR THEMADVERSE ENVIRONMENTAL CONDITIONS: \NO ADVERSE ENVIRONMENTAL CONDITIONS ARE KNOWN ‘TO THE APPRAISER INCLUDING BUT NOT LIMITED TO THE INSIDE OR OUTSIDE OF PROPERTY BOUNDARY SUCH AS MAN MADE HAZARDS THAT WOULD HAVE AN ADVE! AFFECT ON VALUE. TERMITE, LEAD PAINT, MOLD, SOIL TREATMENT OR RABON GAS. THESE INSPECTIONS ARE TO BE DONE BY PROFESSIONALS IN THEIR FIELD, THE APPRAISER IS\NOT RESPONSIBLE R SUCH CONDITIONS NOR 15 LIABLE. APPRAISER IS ABSOLVED OF ANY KIND POR SUCH/BY ACCEPTANCE OF THIS REPORT. Conditions of Appraisal SUBJECT SITE SIZE AND FLOOD ZONE ARE SUBJECT TO A CURRENT SURVEY. SEE ATTACHED STATEMENT OF LIMITING CONDITIONS. CONDITIONS OF THE 5 rE LAWS AND REGULATIONS, THE APPRAISER IS PROHIBITED FROM GIVING INFORMATION JO ANYONG OTHER THAN OUR CUENT WITHOUT WRITTEN AUTHORIZATION FROM THE CLIENT / ‘ f Net IVE COMPLAINT. Addonduin Pago tof4. UF . ranean ta /4/ FLOORPLAN | Borrower; SHAYA GOMEZ File No.;_ SUMMARY REPORT Property Address:8493 ENGLISH OAKS DRIVE Case No: City: JACKSONVILLE. State: FLA. Zip: 32244 Lender: BEST MORTGAGE LOAN Bath Master DIA Bedroom Kitchen Sketch by Apex \V Windows™ AREA CALCULATIONS SUMMARY LUVING AREA BREAKDOWN Code Description Sle Breakdown Subtotals: LAL Firat floor 1338.32 Yirat Wloor GAR Garage 407,23 22 2 35.6 2003.92 2.9 2 2h 272.29 2.0 x 31.6 63.20 TOTAL LIVABLE (rounded) THE ame a Pret a OTE ESSERE TE Te a 3 Areas Total (rounded) 1339 TNTRTRy oan ae te HCO Tn VT Ta TTT EST /$2- " LOCATION MAP Borrower: SHAYA GOMEZ File No: SUMMARY REPORT. Property Address:8493 ENGLISH OAKS DRIVE Case No.: City: JACKSONVILLE State: FLA. Zip: 32244 Lender: BEST MORTGAGE LOAN led to Street) Ti Preys PAGE ——————— EO ———— TOO SUMMARY REPORT Borrower: SHAYA GOMEZ Property Address: 8493 ENGLISH OAKS DRIVE City: JACKSONVILLE . State: FLA. Lender BEST MORTGAGE. LOAN Zip: 32244 FRONT VIEW OF SUBJECT PROPERTY Appraised Date: August 27, 2003 Appraised Value: $ 105,500 REAR VIEW OF SUBJECT PROPERTY STREET SCENE Borower, SHAYA GOMEZ File No: SUMMARY REPORT Property Address; 8493 ENGLISH OAKS DRIVE Case No. City: JACKSONVILLE State: FLA. Zip: 32244 Lender: BEST MORTGAGE LOAN SUBJECT - KITCHEN SUBJECT - LIVING ROOM SUBJECT - BATHROOM IST RALIVE COMPLAINT Weir ef Ee OF (6S Borrower: SHAYA_ GOMEZ File No.:_ SUMMARY REPORT Property Address: 8493 ENGLISH OAKS DRIVE Case No.: City: JACKSONVILLE State: FLA. Zip: 32244 Lender: BEST MORTGAGE LOAN COMPARABLE SALE #1 5538 OAK CROSSING DR. JACKSONVILLE Sale Date; 9-27-2002 Sale Price: $ 101,900 COMPARABLE SALE #2 8311 OAK CROSSING DR. JACKSONVILLE Sale Date: 5-21-2003 Sale Price: $ 103,000 COMPARABLE SALE #3 8377 OAK CROSSING DR. JACKSONVILLE Sale Date: 4-18-2003 Sale Price: $ 103,900 BTRATIVE COMPLAINT. Fie No, SUMMARY REPORT DEFINITION OF MARKET VALUE: = The most probable price which a property should bring in a competitive and opan market under all conditidns requisite to a fair sale, the buyer and seller, each acting prudently, knowladgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a spacified date and the passing of titte from seller to buyer under conditions wheraby: (1) buyer and seller sra typically mativated; (2) both parties are wail Informed or weil advised, and aach acting in what he considers his awn best interest; (3) a reasonable time is allowed for exposure in the apan markat; (4) paymant is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price raprasants the normal consideration for the property sold unatfectad by spacial or creative fi inancing or sales concessions* grantad by anyone assaciated 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 patd by sallers as a result of tradition or taw in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creativa financing adjustments can be made to the comparable proparty by comparisons to financing terms offered by a third party institutional fander that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanleal dolar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the markal’s reaction to the financing or concessions based on the Appraiser’s judgment, STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appralser's certification that appears In the appralsal report is subject to the following conditions; . . 41. The appratser will not be rasponsible for matters af a lagal nature that affect alther the property being appratsad or tha title to it, The appratser assumes that the title Is good and marketable and, therefore, will not render any opinions about the title. The property Is appraisad on the basis of it being under responsible ownership. 2, The appraiser has provided a sketch In the appraisal report to show approximate dimensions of the improvaments and the sketch is included anly to assist tha reader of the report in visualizing the property and understanding the appraiser's determination of its size. 3, The appraiser has examined the avallable flood maps that are provided by tha Federal Emergency Managament Agency (or ather data sources) and has noted in the appralsal report whether the subject site is located in an identified Spacial Flood Hazard Area. Bacause the appraiser is nat a survayor, ha or she makes no guarantees, express or implied, regarding this determination, 4. The appraiser will not give tastimony or appear In court because he or sha made an appraisal of the property in quastion, unloss specific arrangamants to do so have been mada beforehand, . 5, The appraiser has estimated the value of the land In the cost approach at its highest and best use and the Improvements at thelr - contributory value. These separate valuations of the land and improvemants must not ba used In conjunction with any ather appraisal and are invalid if they are so used, . 6, The appraiser has noted in the appraisal raport any adverse conditions (such as, needed repairs, depreciation, the presence of hazardous wastes, toxic substances, etc, ) observed during the inspaction of the subject property or that he or she became aware of during the normal tesearch Involved In performing the appraisal, Unless otherwise statad In the appralsal report, the appralser has no knowladge of any hiddan or unapparent conditions of the property or adverse environmental conditions (Including tha presence of hazardous wastes, toxic substances, atc. ) that would make the property more or less valuable, and has assumed that there ara no such conditions and makes no guarantees or warranties, express or impliad, regarding the condition of tha property. Tha appraiser will not ba responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whather such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must nat be considered as an environmental assessment of the property, 7. The appralser obtained the information, astimates, and opinions that ware expressed In the appraisal report from sources that he or she considers to be reliable and believas them to be true and correct. The appralser dues not assume responsibilty for the accuracy of such items that wera furnished by other parties. 8, The appraiser will not disclose the contents of the appraisal raport except as provided for In the Unifarm Standards of Professional Appraisal Practica, 9. The appraiser has based his or her appralsal report and valuation conclusion for an appraisal that is subject to satisfactory completion, rapairs, or alterations on the assumption that completion of the impravements will be performed in a workmantike manner. 10. The appraiser must provide his or her prior written consent before the lender/cliant spacifiad in the appraisal raport can distribute the appraisal rapart (including conclusions about the proparty value, the. appralser’s identity and professional designations, and references to any professional appraisal organizations or the firm with which the appraiser is associated ) to anyone othar than the borrower, the mortgagee or its successors and assigns; the mortgage insurer; consultants; professional appraisal organizations; any state or federally approved financial institution; or any department, agency, or instrumentality of the United States or any state or the District af Columbia; axcept that the landar/cliant may distribute the property description section of tha repart only to data collection or reporting service(s) without having to obtain the appraiser's prior writtan consent. The appraiser's written consent and approval must also be obtained before the appraisal can ba conveyed by anyone fo the public through advertising, public relations, news, sales, or other madia, ADMINISTRATIVE COMPLAINT EYNIRET a | Freddia Mac Porm 439 6-93 Page 1 of 2 Fannia Mas Form 7 os PAGE _.\% oF 7 147 Fis No. SUMMARY REPORT APPRAISERS CERTIFICATION: — The Appraiser certifies and agrees that: 1. Uhave rasaarched the subject markat area and have selectad a minimum of thrae recent sales of properties most similar and proximate to tha subject property for consideration In tha sales comparison analysis and hava made a dollar adjustment when appropriate to reflect the market reaction to those items of significant variation. If a significant item in a comparable property is suparior to , or more favorable than, the subject proparty, | have made a negative adjustment to reduco the adjusted sales price of the comparable and, if a significant item In a comperabie proparty is inferior to, or lass favorable than the subject property, | have made a positive adjustment to increase the adjustad sales price of the comparable, 2. Uhave taken into consideration the factors that hava an Impact on value in my davelopment of the estimate of market value In the appraisal report. | hava not knowingly withheld any significant information from the appraisal report and | belleve, to the best of my knowladga, that all statements and information in the appraisal report are true and correct. 3. {stated In the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which ara subjact only to the contingent and limiting conditions specified in this form. 4. | have no present or prospective interest in the property that is {he subject to this report, and | have no present or prospective parsonal interest or bias with respect to the participants in the transactlon. | did not base, either partially or completely, my analysis and/or the astimate of market value In the appraisal raport on tha race, color, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the prasent owners of occupants of the properties in the vicinity of the subjact property. 5. | have no present or contemplated future interest in the subject property, and neithar my current or future employment nor my compensation for performing this appralsal is contingent on the appraised value of tha property. 6. | was not raquired to report a pradeterminad value or diraction in value that favors the cause of the cliant or any relatad party, the amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my compensation and/or employment for performing the appraisal, | did not base the appraisal report on @ requested minimum valuation, a specific valuation, or the need to approve a spacific mortgage loan. 7. | performed this appraisal in conformity with the Uniform Standarde of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of Tha Appraisal Foundation and that were In place as of the effactiva date of this appraisal, with the exception of the daparture provision of those Standards, which doas not apply. | acknowledge that an estimate of a reasonable thme for exposure in tha open markal is a condition in the definition of markat value and the estimate | developed Is consistent with tha markeling time noted in the naighborhood section of this raport, unlass | hava otherwise stated in tha reconciliation section. B. | have personally Inspected the Interior and axterior areas of the subject praparty and the exterior of all propartias listed as comparables in the appraisal report. | further cartify that | have noted any apparent or known adverse conditions in the subject Improvements, on the subject site, or on any site withIn the Immediate vicinity of the subjact property of which | am aware and have made adjustments for thasa adverse conditions in my analysis of the property value to the extent that | had market evidence to support them. | have also commented abaut the effect of the adverse conditions on the marketability of the subject property. : 9. | personally prepared all conclustans and opinions about the real estate that were set forth in the appraisal report, {fl relied on significant profassional assistance trom any Individual or Individuals in tha parformance of the appraisal or the preparation of the appralsal taport, | have named such individual(s) and disclosed the specific tasks performed by them in the reconciliation section of thls appralsat report, | certify that any individual so named Is qualified to perform the tasks. | have not authorizad anyone to maka a change to any itam In (he report; therefore, If an unauthorized change is made to the appraisal report, | will take no responsibility for it. SUPERVISORY APPRAISER'S CERTIFICATION: — {fa supervisory appratser signad the appraisal report, he or sha certifies and agrees that: | diractly supervisa the appralser who prepared the appraisal raport, have reviewed the appralsal repart, agres with the statements and conclusions of the appraiser, agree to be bound by the appraiser's certifications numbered 4 through 7 above, and am taking full responsibility for tha appraisal and the appratsal report, ADDRESS OF PROPERTY APPRAISED: 8493 ENGLISH OAKS DRIVE, JACKSONVILLE, FLA_32244 APPRAISER: "SUPERVISORY APPRAISER (only If required) Signature; if Signature: LL EZZ> Name: JACK{ ZAVE Name: BILE WALTER Date Signed: AUG. 27, 2003 * Date Signed: AUG. 27, 2003 State Certification #: Stale Certification #: ST. CERT. GEN, APPR. #RZ 634 or Stata License # ST. REG. ASST. REA # RI 10295 or State License #: State: EL. State: FL. Expiration Date of Certification or License: 11/40/2004 Expiration Date of Certification or License: 11/30/2004 X} Did 7 Did Not inspect Property ALWIL TOI BRATIVEE COMPLAINT 11-30-2004 SO 2008 ay { Freddie Mac Form 439 6-93 : Paga2oi2 0 * T Fannie Mae-Form 40048.6.03 PAGE (2 oF 188 JC3A1953 mo, USPAP COMPLIANCE ADDENDUM * File No, SUMMARY REPORT Borer SHAYA GOMEZ Onter# SUMMARY REPORT Property Address 8493 ENGLISH OAKS DRIVE : City JACKSONVILLE County DUVAL State FLA. ZipCode 32244 LenderClient BEST MORTGAGE LOAN Client Reference = Only thase items checked | |botow.apply ta this report, ;” PURPOSE; FUNCTION AND INTENDED USE OF THE. APPRAISAL ” “ “The purpone of the appruisal is to provide an opinion of market value of the subject property as defined in this report, on behalf of the appraisal company facilitating the assignment for the referenced client as the intended user of the report. The only function of the appraisal is to assist the client mentioned in this report in evaluating the subject property far lending purposes. The use of this appraizal by anyone other than the sinted intended user, or for any oher use than the stated intended use, is prohibited, (71 the purpose of the appraisal ie to provide an opinion of market value ofthe subject property, as defined in this report, an behalf of the appraisal company facilitating the assignment for the referenced client as the intended user of this report, The only function of the appraisal is to assist the client mentioned in this report in evaluating the subject property Real Estate Owned (REO) purposes. The use of this appraisal by anyone other than the stated intended user, or for any other tse than the stated intended use, is prohibited, (1 The purpose of this appraisal is to on behalf of the appraisal company facilitating the assignment for the referenced client as the intended user of this report, ‘The only function of the appraisal is to assist the client mentioned in this report in evatuating the sulject property for | ‘The use of this appraisal by anyone olher than the stated intended user, or for any other use than the stated intended use is prohibited. ‘“TYPE:OF APPRAISAL.AND APPRAISAL REPORT = ; : . ‘This isa COMPLETE Appraisal written ina SUMMARY Report format and the USPAP Departure Rule has no! been invoked, ‘This is a Limited Appraisal written in a Report Format and the USPAP Departure Rule hos been invoked ax disclosed in the body or addenda of the report. ‘The client ins agreed that a Limited Appraisal is sufficient for its purposes. SCOPE (EXTENT) OF REPORT The appraival in based on the information galiered by the appraiser fram public records, other identitied sourves, inspection af the mbject property and neighborhond. and selection of comparable sales, listings. and'or rentals within the subject markel area, The original rource af the comparables ia shown in the Data Source section of the market grid along with the source of confirmation, ifavaifable, ‘The original source is presented first, The sources and data are considered reliable, When contlicting infirmation wax provided, the source deemed most relinble haa been used, Data helieved to be unreliable waa not included in the report nor uned as a hasis for the value conclusion. ‘The extent of analysis applied to this assignment may be further imparted within the report, the Appraiser's Certification below andor any other Statement of Limiting Conditions and Appraiser Certifivalion such ax may be wiilized within the Freddie Alac form 439 or Fannie Mae form 1004b (dated 6:93), when applicable. N/A MARKETING TIME AND EXPOSURE TIME FOR THE SUBJECT PROPERTY A reasonable marketing time for the subject property is 120. day(s) utilizing market conditions pertinent to the appraisal assignment. A reasonable exposure time for the subject property is dny(s). “ APPRAISER'S CERTIFICATION ; Teertify that, to the best of my knowledge and belief: + ‘The statements af fact contained in this report are tue and correct. . + The reported analynes, opinions, and conclustions are limited only by the reported ansumptions and limiting conditions, and are my personal. ° impartial, and unbiased professional analyses. opinions. ond conclusions, + Lhave nv present or prospective interest in the property that is the subject of this report, and a0 personal interest with respect to the parties involved, unless otherwise stated within he report, = Uhove nu bias with respect to the property that ix the subject af this report or to the parties involved with this assignnient. + My engagement in this assignment was not contingent ypon developing or reporting predetermined resulta, = My compensation fur completing this nasignment in not contingent upon (he development or reporting of a predetermined value or direction in value that favors the caune of the client, the amount of the value opinion, the altainment ofa stipulated result, or the occurrence ofa subsequent event directly’ related to the intended use of this apprainal, = My analyzes. opinions. and conclusions were developed. and this report has been prepared. in conformity with the Unitorm Standards of Professional Appraisal Practice. « Thave (X] or have not (_) made o personal inspection of the property that is the subject of this report, (if more than ong person signs this report, thiy certification must clearly specify which individuals did and which individuals did nol make a personal inspection of the appraisal property.) + No one provided sigaificant reat property appraisal assistance to the pereon signing this vertification. (If there are exceptions, the name of ech individual providing significant professional nasistance must be stated.) NOTE: In the cose of any conflict with a client provided certyicatont (te. Fane Mae or Freddie Mach, this revised curtyicanon shall take precedence, + Supervisory Appraber'n Certification: If a supervisory appraiser signed the appraisal report be or she cerlifies and agrees that: I directly supervise the appraiser who prepared the appraisal report, bave reviewed the appraisal report, agree with the statements and conclusinns of the apprainer. agree to be bound by the apprainer’s certifications aunibered 2-7 and 9 on the second page of Freddie Mae Form 439 6-93 Fannie Mav Form 1004B 6-93, or the third pane of Form 2055. and am taking full responsibility for the appraisal report, APPRAISER'S AND SUPERVISORY APPRAISER'S SIGNATURE APPRAISER: SUPERVISORY APPRAISER (only if required): Signature: Cb Signatre: Name: JACKUZAVE Name: BILL WALTER Date the Report was Signed: AUG. 27, 2003 Date the Report was Signed AUG. 27, 2003 State Certification #: State Certification 2: ST. CERT. GEN. APPR. #RZ 634 or State License #: ST. REG. ASST. REA # RI 10295 or State License #: State: FL, State: FL. Expiration Date of Certification or License: 11/30/2004 Expiration Date of Certification or License: 11/30/2004 (a) Bias ee (i ES AINT. _. _ SHEET yf Cheer See core em nee rtataivtnen ene AGE _1y OF «PSF Borower SHAYA GOMEZ Properly Address 8493 ENGLISH OAKS DRIVE City JACKSONVILLE County DUVAL State FLA. Zip Code_ 32244 Fie No, SUMMARY REPORT Lender BEST MORTGAGE LOAN APPRAISAL AND REPORT IDENTIFICATION This appraisal canfarms to one of the following definitions: Complete Appraisal (The act of process af estimating value, or an opinion of value, performad without invoking the Departure Rute.) Limitad Appraisal {Tha‘act or procass of astimating value, or an opinion of value, performed under and resulting fram Invoking tha 7 Departure Rule.) This raport is one of the following types: Self Contained (A woltlan report prepared under Standards Rule 2-2(a) of a Complete or Limited Appraisal performed under STANDARD 1.) (Summary {A wiltan report prepared under Slandards Rule 2-2(b) of a Complete or Limited Appraisal performed under STANDARD 1.} Restrictad (A written reporl prepared under Standards Rule 2-2{c) af a Complate or Limited Appraisal parformad under STANDARD 1 for client usa only.) Comments on Standards Rule 2-3 i cartify that, to the beat of my knowledge and belief: * The stataments of fact contained in this report ore true and corract. * The reported analyses, opinions, and conclusions are limited only by the reported aszumplions and limiting candiions, and are my poreonat impartial, and unbiased profassional analyses, opinions and conclusions. + [have no present or prospective intarast in the proparty that fs he subject of this report, and no personal interest wilh respact to the parties invalvad, + [have no bias with respect to the proparty that is the subject of this raport or the parties involvad with this assignment. + My engagement in this osaignmant was nal contingent upon dayaloping or reporting pradoletminad results. «© My compansation for complating this assignment fs not contingant upon tha development or raporting of a predatarmined value or direction in value that favors the cause of the cfisnt, the amount of the value opinion, the allainmant of o stipulated resull, or tha occurrence of a subsequent event directly retalad to the Intendad use of this appraisal, © My analyses, opinions and conclusions wore developed and this raport has been prepared, in conformily wilh the Uniform Standards of Professional Appraisal Practice. . iM) hove] have not made a personal inspection of tha property that i the subject of this report. Comments on Appraisal and Report Identlfication Note any departures from Standards Rules 1-2, 1-3, 1-4, plus any USPAP-related issues requiring disclosure: NIA. APPRAISER: SUPERVISORY APPRAISER (only ifrequired): Signature: Signature: Name: JACK{ GAVE Name: BILL WALTER Date Signed: AUG. 27, 2003 Date Signed: AUG, 27, 2003 State Cartification # State Certifcalion #: ST. CERT. GEN. APPR. aRZ 634 or State Liensa # ST. REG. ASST. REA #RI 10295 oF Stale License & State: FL. State: FL. Exptation Date of Cerlification or Licanse: 11/30/2004 Expiration Date of Certiation m1 wir 1 pole ee Alggignls 1 adil ana WI . #. remeomtoroutimmnn (FOF _ _ USPAP Kertlicatin (Rev 8A) /90.

Docket for Case No: 06-003507PL