Nov 19 200? 11:29 11/19¢2087 12:15 — g5e9gzig1¢86 DEPR PAGE 82/67 O7- SQ6q PL STATE OF FLORIDA DEPARTMENT OF BUSINESS & PROFESSIONAL REGULATION FLORIDA REAL ESTATE APPRAISAL BOARD FLORIDA DEPARTMENT OF BUSINESS & PROFESSIONAL REGULATION, DIVISION OF REAL ESTATE, Petitioner, v. ’ CASE NO. 2005047122 PATRICIA B. WILSON, Respondent. ADMINISTRATIVE CO: LAINT The Florida Department of Business & Profession Regulation, Division of Real Estate (“Petitioner”) files this Administrative Complaint against P tricia B. Wilson ("Respondent"), and alleges: ESSENTIAL ALLEGATIONS OF MATERIAL FACT 1. Petitioner is a state government licensing an regulatory agency charged with the responsibili ty 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 state certified esidential real estate appraiser having been issued license 5638 in accordance with Chapter 475 Part I of the Florida Statutcs, 3. The last license the State issued to Respondent as as a state certificd residential yeal estate appraiscr at 4118 Cocoplum Circle, Coconut Creek, Florida 33063. 4. Atall times material, Respondent was a registered trainee appraiser. Nov 19 2007 11:29 11/19¢2887 12:15 85892191986 DEPR PAGE 03/67 1 FDBPR y. Patricia B, Wilson . , _ Case No. 2005047122 Administrative Complaint 4. On or about August 30, 2005, Patricia Wilson (Respondent) and Richard Jaramillo developed and communicated an appraisal report (Report) for property commonly known as 2340- 2342 NW 15th Avenue, Miami FL 33142 (Subject Property 1), and estimated its value at $284,000. A copy of the report is attached hereto and incoyporated herein as Administrative Complaint Exhibit lL. 5. Atthe time of the Report, Respondent was licensed as a current inactive trainee real estate . appraiscr. Respondent was supervised by Jay Harden, a certified residential appraiser from February 10, 2005 through July 7, 2005. Respondent was supervised by Paul Kamphaus, a certified residential appraiser from September 12, 2005 through October 10, 2005. At the time of the report, Respondent Operated without having a supervisor registcred with the Department. A copy of Petitioner’s licensing records regarding Respondent is attached hereto and incorporated herein as Administrative Complaint Exhibit 2. 6. Respondent was supervised by Michael Facendo, a certified residential appraiser from May 2, 2003 through January 27, 2004. Respondent was supervised by Melinda Navarro, a certified residential appraiser from March 5, 2004 through May 6, 2004. Berween February 28, 2004 and March 4, 2004, Respondent performed 25 appraisals without having a supervisory appraiser. A copy of the Respondent’s experience log listing the abovc mentioned appraisals is attached hereto ond incorporated herein as ‘Administrative Complaint Exhibit 3. COUNT I Based upon the foregoing, Respondent is guilty of failing to Perform appraisal services under the direct supervision of a licensed or certified appraiser who is designated as the primary 2 Nov 19 200? 11:29 11/19/2087 «12:15 8569219186 DBPR PAGE 44/67 FDBPR v. Patricia B. Wilson Case No. 2005047122 Administrative Complaint . supervisory appraiser in violation of Section 475.6221(1), Florida Statutes and, therefore, in Violation of Section 475.624(4), Florida Statutes. COUNT I Based upon the foregoing, Respondent is guilty of having operated without a valid and current license in violation of Section 475.626(1)(a), 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 Order as final agency action finding the Respondent(s) guilty as charged. The penaltics which may be imposed for violation(s) of Chapter 475 of the Florida Statutes, depending upon the severity ofthe offense(s), include: revocation of the license, registration, or certificate; suspension of the license, registeation or certificate for a period not to exceed ton (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 inchiding, but not limited to, requiring the licensee, registrant, or certificate holder to compiete 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, 3 f Ni : 11/19/2887 12:15 8589219186 DEPR ov 19 2007 11:30 . / PAGE 5/57 FDBPR v. Patricia B. Wilson Case No. 2005047122 Adminiswative Complaint registrant, or certificate holder to complete and pass additional appraisal education courses, publication, restriction of practice; injunctive or mandamus relief, imposition of a ceasé and desist order; or any combination of the foregoing which may apply. See Section 455.227, Fla. Statutes and Florida Administrative Code Rule 6131-8.002. SIGNED this_ Gk _ day of Florida Department of Business and ) Professional Regulation / ‘Thomas O’ Bryant, Jr. Director, Division of Real Estate ATTORNEY FOR PETITIONER Seipatiment of Pr ctessiana? Paeaties : Division of Rea Est Re regal triheg i ori’ Ardelean, Senior Attorney. ee Ken Sf Camen 7 Fla. Bar No. 734853 meen ore Division of Real Estate sft o7 Legal Section tit pes apn cantare et, ” ~ rots eentnmm win —racserne re mec oil Mit 400 W. Robinson Street, N801 Orlando, Florida 32801-1757 (407) 481-5632 (407) 317-7260 - FAX PCP: JH/PA 4/30/07 Nov 19 200? 11:30 11/19/2887 12:15 8589219195 DBPR PAGE 26/67 FDBPR v. Patricia B. Wilson Case No. 2005047122 Administrative Complaint 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 FURTBER ADVISED that pursuant to this Administrative Complaint you may request, within the time allowed by law, 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 mattex; aud 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 tecum issued on your behalf if a formal hearing i 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. 11/19/2807 12:15 8599219186 , DBPR Nov 19 200? 11:30 PAGE 87/57 SMALL RESIDENTIAL INCOME APPRAISAL REPORT 8050030 PA Propeny Addins 2342 NW ISTH AVE _-__ Cty MIAML Sintec EL Ep Code 331N2 Lege Daxctigiln EVERGREEN GDNS ADDN? PS 19-23 UNDIV 1/2 € 62.78 FT INLOT 1BLK2 ____Gouny MIAMI DADE Assrysan's Parcel vp, 01-3126-023-01 11 Tax Year 2004 _ RE. Tos 32,577 Spectst Asai 23 NOME. inigndorhoed or Project Name EVERGREEN. GARDENS ‘Map Ratereree $3-91-26 Census Tench Bonoyrr HEAMIS LINARES _Gurent Genet KAZIMIERZ BOKINIEG fccupsn | Owner Tenant acon openyiighteagprotet [x] FaaSinple [ Lteasmhata | Proyect Tyne PUD Condamintum Haas NIA iio, Sneshirr¥ 340,000 Dave of Sate SIDS EST Drse/gtlon and § gmieurt ofan chargestarer=ains in Be pst by sobs NONE DISCLOSED FA LenderfCtert MARLIN MORTGAGE: ‘Agdus; G18 MIRAMAR PARKWAY, MIRAMAR, Fi 33029 ‘Appentset FATRIGAS 5 WL SOH Addnna 1029 NW 3t ANE POMPANO BEACH FL 33089 EB Localion ie” Rural singe BEE one item ae famlry Housing GE BB outhup . mers oy 1% easy © (CJitetre 25%) Secunaney tit. | Gccupanty 31600) oo BY Grawah reir oem Le {X) Siobis Sty - [x] puner 5 er tow: NEW! () owner | 148K how 2 i Proprey values. sncteasiog Sadie Ogcheng J Tenant 600% Htlgt 8S 4) Tenant 2 : oad Shorlant mated Over sypty | (X) vcore set) pc? x] veer ames, {| j.6 mos rer 6 ens vena ae i) a ramiyEiog Type Duplex Na, stories 7 No.nats 2 age 55, iQ Typfeolsrmts B 550 t0S_ 1 te LT te [Ter fxjsne fxfsnse L teckaing Onetamty __ 80% Est nrighburhnod apt wacency Ingrenglng, Stable Oectining 34 tally. 15% #4 Finat comenis ves [K)no ay Myer or dhol. Seseatha Mun family a . : rr i yp | Prmsantianduce ® | Landure chonge iat testy (2) Ukaly fn prognss to: Note: Arce and the racta! composltion of the nalghborhoad are not appraisal fectors, Hil Nalghbornood boundaries and ehvacterlstita: SUBJECT 1S LOCATED NORTH OF DOLPHIN EXPRESSWAY, SOUTH OF THE AIRPORT H EXPRESSWAY, EAST OF NW NORTH RIVER DRIVE AND WEST OF STATE ROUTE 7. BOUNDARIES REFLECT LOCATION OF gp SUBJECT, MAB MARKET BOUNDARIES INCLUDE THE MIAMI DADE MARKET AREA. Feetnrs thal aftect the markwlabtiity of (hr proparties In the nalghborhaod (proximity to employment ang pmeniles, Reploymnnt doblny, sppanl Le mortal, alc.): A THE SUBJECT IS LOCATED IN AN ESTABLISHED NEIGHBORHOOD AND FEATURES A GOOD Mix OF SINGLE FAMILY, RESIDENCES, SMALL INCOME PROPERTY SIMILAR TO SUBJECT AND COMMERCIAL PROPERTIES ARE PREDOMINATELY. LOCATED ALONG BOUNDARYS TO SUPPORT MARKET AREAS, EMPLOYMENT CENTERS ARE WITHIN REASONASLE OISTANCE, DISTANCE TO PUBLIC TRANSPORTATION, SCHOOLS, PARES HOSPITALS, SUPPORT GENTERS AND PLACES OF WORSHIP ARE WITH REASONABLE DISTANCE. By Te tolowhy nvatshin capenearl thy most current, simliv, and pralmae compnilive pnpesties to the subject prop ly nine subject nalghbarnood, This panlysit fs Intended to, cake! Tom inventory cusrtdy on the marked competing eth the subfett every 4 The subjee! nelghdemood and recant peice amd marketing tune trends, mea ne anes propeny hs sui te wighborhand sie’ not ennsidero appienbic). The hilng cot cam aarabies can be Usa malal or sate compotgbies It they srt cut G cull [_sumect___[ _couearanveusmwcno.1 [| __couraannueustacan 2 | _eowrafag.eusravcu0.1 | . ee aR iia MIAML MIAMI . reson sie PA EY 0.52 miles W 4.07 miles Ww 0.33 milan N 340,000 [(xtunt. [Tras . 325,000 | [xJuw [Jewn s 290,000! [x]un.[ [rum s "310, ‘Apgronmnte GAA Fi a0 ari 2087 BA Onio zeuce IISPEGTION MUSHO 1052504 MUSHF659¢3S a\nisTo.emmappAy 2:01 A. 2.00 10. 4: 2.00 2 8h 42:00 BY npocumate yew bud | 1957-40 YRS. | 2967- 5 YRS 1846-59 YRS : ity ee on moran | RUA, 80 36 Comparison nt inings to subject propeny ALL LISTINGS ARE IN SUBJECTS MARKET AREN, AND REFLECT SIMILAR APPEAL. Market conditions thot ilect Zea tamnily proprsiies In the sunjoct ecighdarhaad (Inelu Jing tho above arlpnborhand Indicators of qrawih inte, plapatty vaking, @) domondésupply, and marketing lima} and the prevatence and Impnc! In the subject market cern regarding nan discounts, interest buydowns and enacassiont, and bad Mratvicatinn of trends tn listing prices, kuernge Mpys an market nd any Ghange owes the pact year. rte.” SUBJECT CONFORMS TO THE MARKET i AREA AND'PROPERTIES OF SIMILAR APPEAL FEATURES A MARKETING TIME OF 2 TO 5 MONTHS, SUPPLY LEVELS ARE LOW FOR THERE IS A HIGH DEMAND FOR INCOME PROPERTIES AND THEREFORE PROPERTY VALUES ARE INCREASING BW IN THIS MARKET AREA. SEVERAL LENDERS ARE AVAILABLE IN THIS MARKET AREA AND SOME FINANCING CONCESSIONS. ARE TYPICAL - Tepagraphy BASICALLY LEVEL She TYPICAL FOR AREA Shope RECTANGULAR, foinge APPEARS ADEQUATE, ad RESIDENTIAUAVG Londucephy, TYPICAL Oheway CONCRETE Apnvrent easements TYPICAL UTILITY f Dimeraions 4.4 X 143 : Steams 4490 SQ.FT. Comer tot (XJ no BI Specific zantog classifcaltin and descatian R-2 TWO FAMILY RESIOENTIAL By Zoning compliance (2) ceget_ Legal rerrtamhy (Carchinernd ned legal No mnng Highest & has use astmpemed” (XI Precem use [_] Ornersnw texplein) Pubic Oiher Of-cnc improvements Type Pubic Sue ASPHALT Cublguter YESWVES {x} NONE FEMA Spena) Flood Hazard Ata OX} ves LJNo Sure igns POLE FEMA Zane AE Nap Dowe 3/2/1994 NONE NOTED | ancy NONE : Ut FEMA Map No. 42065001805 : Commants (apparent adverse easaments, encroachments, spacial asSessmanis. Side sera3, Moga! ar legat roncontorming roning. wx, mic.) . NO ADVERSE EASEMENTS OR ENCROACHMENTS NOTED AT TIME. OF INSPECTION. SUBJECT APPEARS TYPICAL FOR AREA Sitcwak CONCRETE. >< at eT ves GOT y Feraate Mae From 92 10-84 PaGe 1 OF $ : rT. Fane Man Foe 1025.10-94 Preeti hen MOTTE at a _ “AGE OF 11/19/2887 12:15 8589219186 + Nov 19 200? 11:31 DBPR PAGE @8/67 SMALL RESIDENTIAL INCOME APPRAISAL REPORT 80s0030 General description Exteloreescripticn — (Matrifale/conanton} Foungattan froulaen — funkelecte) Ursisvaidgs, 2M Foundarion CONCRETE Sib NO. Root CNCLD. Sines, ONE jEnene=ot; CBS Crt tpoce YES 100% _ Criing CNCLO. Type idea.) ATTACHED Rorf gurtsce TAR & GRAVEL Sump Pump NONE NOTED x] wos CNCLD. Orsign {styie) =OUPLEX Gunes Auwmsps. YESYES Somes: NONE NOTEO Xf Floor CNCLD. Exikgnmpae! EXISTING Window type SINGLE HUNG Sailament ~NONE NOTED None OF Infataton NONE NOTED: Ateqary UNKNOWN Year Bull 1957-48 YRS Gasemen, § _ONYA hot ita aren | Energy eiticient temas ; Brmrentktch NIA NONE KNOWN Toto! 2 1,059 A058 ptteammnts eaniain 40 Rnom A Geymams): 2 Datniat; 2,1 18 Square font af GROSS QUILGING AREA, GROSS BUILDING AREA (GBA) IS DEFINED AS THE TOTAL FINISHED AREA {INCLUDING COMMON AREAS) OF THE IMPROVEMENTS BASED UPON EXTERIOR MEASUREMENTS. Suefocas —— (Matefialatcondiien) =| Heating . Hitchen equip. [#funtcond) Cat Storoga Nn, Cars. TILE Goo CJ Copan: (] woop Contion AVERAGE tae ‘toches 4 Onachet ry Eth wae TILE Cooling Adequate FSA Coors WwooD Cento = YES. . Tnetequate ei her FANS 2 Floished Ombre x Conrlilnn AVERAGE Unfinshed Noon ’ i i Depreciation (phystew. Amctionsl, ave eeiranal inadequacies, ec): TYPICAL, DEPRECIATION FOR THE SUBJECTS AGE, NO FUNCTIONAL OR: Ss ANAL OBSOLESCENCE NOTED AT TIME OF INSPECTION. “ Atwarse crvleanmeniat canditians {ruci an, but mot imilod to. Anrordons waties, taste sudsoneey, etc.) presont in the Improvements. on ihe she, nv tn] We immediate victnity af ine subject moperty: NO ADVERSE ENVIRONMENTAL, INFLUENCES NOTED AT TIME OF INSPECTION, VALUATION ANALYSIS, ennners % 125,000} Comments on Cost Approneh (tuch as, snince at rout azimote, alle vol, ESTIMATED-REPRODUCTION COST-NCW OF IMPROVEMENTS; sqvate Int enfCuintton and, tor HUD and VA, the asiimatad remaining 1059 SaFimi 400,00 -: 105,900 economic Ife of the property}: COST APPROACH FIGURES 1059 Sq.Ft ms 100,00 »5 105,900 OBTAINED FROM MARSHALL AND SWIFT COST ESTIMATES. a Sq. Fi. os “3 DEPRECIATION ESTIMATED USING AGE/LIFE METHOD. NO 5 Sq Finer *3 ADVERSE EXTERNAL OR FUNGTIONAL INFLUENCES FOUND. $q. FL oy -s LAND TO VALUE RATIO IS TYPICAL IN SUBJECTS MARKET. “s AREA, LAND VALUE DERIVED FROM EXTRAGTION OR aS ‘ ACCESSED VALUES, ESTIMATED TOTAL LIFE IS 80 YEARS. “4 REMAINING ECONOMICAL LIFE 15 40 YEARS. “3 : § APPLIANCES “Ss _ 5,000 Red Special Energy €Mctent nems st . fig Poiches Pati. cic. COURTYARD, PORCH 3 7,500 pe Pol estimated caste 224,300 . Physleat“Funcingt — Estmpat tes O- Bg Cepreciovon 74,018 Drprecisied Vatue of imptavementy , “AS IS" Vinue of Sha Improvementy ae ; : 2 IND-CATED VALUE BY Cosy APPROACH 285,281 UTR ee el tee T . Tate Mofo 2 necenmsnmccreninitinnnmE KH IST Ge 7 rome Tomas we . ee a a a / PAGE or Nov 1 : 11/19/2887 12:15 8589219196 DEPR 7 200? 11 1 PAGE 89/67 SMALL RESIDENTIAL INCOME APPRAISAL REPORT 8050030 ‘At iwacl ihreg renlal comparables chould he tepartes und anolpred (n mis soclion, The santal comparabins should eepresem (ha most current eonlat Ipfetmalion on prnpertivs aa simiter and proalmate to the subjret property a3 possible. (This comparisnn by b3sed an current rental data, tharetore, the rental comparables typlenny dre cnt the same comporobles usod In the snes comporison analysis.) The apratsal report anoult sssure tha rnadar thal the untls and properiles selected os comparabtes ore compstabte tn he subject peapreay (bot ihe seats ond tite overal’ prnperty} and ateuretery tepeacnm the mental marke! fae Woe subject ntopany (vals otheralin slaien within ihe repnn) - ITEM SUBJECT [ COMPARAOLE RENTAL NO 1 COMPARABLE RENTAL NO. Z COMPARABLE RENTAL NO. 2 . farese BSZNW 15TH AVE 251 NW 32ND STREET (1921 NW 28TH STREET | 9041 NW 23RD AVENUE areSS Aram MIAML MIAMI MIAMI Ni 85 mites WIN Prowl to subject 1.07 miles WNW 0133 malleg NE 0.85 miles WN i O-MO RIM MO-MO CURRENT CURRENT CURRENT MLSSFESB1I5 ; TaLSHD1O6SBE2 MLSND 1093795 PUBLIC RECORDS PUBLIC RECORDS PUBLIC RECORDS NONE NONE NONE An,Uns2_ Nove O Yi 19AB [Ae Uns? Nowe O Wot 1980 [NoUns2 No bc 1 Yn: 1970 DUPLEX.AVG TWO UNITS Am Gem | sie’) ta | AmGam | Sua | voi! | Am Coun | Tah oa [oct an _| 59, Fu eral Tot [Or]. Be _| Sa. Fy tw set) Ta ud te a.Ft, [Month Fi 875) fat at 1044 eso] S|2|_ | 830] 750 Leal = 830{ 750 4 4051 _ CI | ti CI a | sf al re" sosa{ af 2) [of ff {| ol | WATERISEWER WATER/SEWER GARBAGE GARBAGE @ included in cent AVERAGE UTILITY JAVERAGE UTILITY NO BASEMENT NO BASEMENT. _ __}NO BASEMENT : basement F-AIRICENTRAN, [F-AIUCENTRAL | F-nlRICENTRAL | heatingicoaing, =f es ST Ey Pract emeniies, ete) o RS RC " nnlyais af rental data ane euppart foe eallmotert market sents for ihe Ingivkhueat gudject unils [including Ihe sdjustmart’ Used. Ibe ndegirey of camparabins, rental nnacnsylan, et,) Ri TAL COMPARABLES ARE Nv SIMI CONDITION, RENTAL COMPARABLES USED ARE CONSIDERED TO BE GOOD R RENTS USED REFLECT AVERAGE CONDITION AND DERIVED FROM INFORMATION RECEIVED AVERAGE UTILITY, Functional utiny, THROUGH MLS. GAM). ect ents ant Matte the GRM, market rants zhoutd hn used, The total mor: IRMA The totnl gross esilmmed rant fe nol odjutted for waranty, NTS. rem: Ine the subject shaule do esthnaicd rant mus! represent __ 3 alee ay Osher matty hexane (emia) nla > aq Vocemy: Acualtastyew = _ unk % Previeut your unk % Estimaled: 5 Y 1,050.00 Annuntty ‘tral goss rcteneted rent % G UmiesInchaed ruled mi: [Jercine (Jwner (K] sree Clos CJot ki tanentecin O 1 4,750.00 “Wy Comments nn ine rent schedule actual ens. cxilmaled roewe fespactally regarting differances detumon actual and neznmated enms|. otlinns, gin . bg SUBJECTS RENTS WERE OBTAINED FROM OWNER AND TENANT, CURRENT RENTS APPEAR HIGH FOR THIS MARKET BUT SUBJECT HAS A DEN/FAMILY ROOM AREA IN EACH UNIT SO APPEAL IS GREATER THAN Tw tei NTH ae . ATE! JAN TYPICAL TWO BEDROOM ONE BATH tate Mae Fam 79 _. PAGE 3 OF #- H Es ~___, FBanke NES Pray 3024 1098 Penis thn Hetuutaxcepemee EH! f a tote stent pO RAGE ar: a jo Nov 19-200? 11:32 11/19/2807 > 12:15 8589219186 DBPR SMALL RESIDENTIAL INCOME APPRAISAL REPORT PAGE 8050030 BI ton n~sigone pes tot ubpats Ana ermperamte pany 1 vapor Hey oe ma pas inte hem, 190 AUBleeT penpery, w minut fo nffostmnat FU MAE, Pmt MACuciPg TBH AMI aR pllem OF CME Toy B te antertas 19, at Jays fevarudin tun tha radject praperny p play le] agjivument ty made Nyt intssating the vdjustnd grite ot ihe remrperd bie progeny” ert vt npn mat ran lm Ilene PERRY av tah Eaton and nnlyne re ea NW barf 9 pcan tien tmnt thm on ire » Aulat Adpriiem seHvcth the reeibel senctizn op Ibmen heme wt Ae eoplan ion tempeiee np ie AWB ate It AIT athens » anne agp " PIMorey’ Wn sec en Hao re carpenter grithent item It (Be ennporable, wersny 1) anes Palen Groas Manutily Rent COMPARARLE NO. 2 ITEM SUBJECT COMPARAALE No, + COMPARABLE NO. ¥ 2342 NW 15TH AVE Z48 NIN TATH TERRACE — [2022 NW 92ND COURT 2153 NW 23R0 STRE! re tiie Res, WNW Bee aes Ww : r 31 . miles 4 : ar te _ urn, § 290,000 {[xJunt, {Jeu s 208,000 sofas price por GAN 435.45 }5 141,72 ogy monihly rent 1,750] 5 2,100 Bf Grose.enn, tr emu 165.71 138.19 Sates ree per na _145,000]+ 74,500 Swes minece room: x x 29,000 23,033, alo ondlor INSPECTION MLSH#01030502 01032551 . Verlfenon Sowers _| PUBLIC RECORDS | PUBLIC RECORDS PUBLIC RECORDS ADJUSTMENTS. DESCRIPTION | Jpbagraere DESCRIPTION ° tps sdpseee conv BCM-29 CONV : DOM-2 S/512005 rection Aljapatiah Hahilde: ‘¢asahallFn Simple FEE SIMPLE A j_NoAOJ 7143SQ ET y NODS RESIDENTIAL, RESIDENTIAL: RESIDENTIAL! TWO UNITS ot FOURPLEX _} NOADJ i AVERAGE i : NO ADJ[AO YB-25 YRS: NOADJ|S8YB47 YRS + _NOADJ]- A AVERAGE i 21415901 2018 sqn5 wei mefeedia feej-te or] oe [Yt 7 me Tol hat a} BD} 8,250 ELS hy o | ifo: [ita {4 ae (its fal -10,000 : 1 4 40,000 , bg Angementcescsiption | N/A. B A. , a —— PBttcstiogteonng TF-AIR CENTRAL | F-AIR/CENTRAL | AIRICENTRAL + Wall Unile *_+6,000 fPoningovatsia "| OFF STREET + OFF STREET i [OFF STREET | aa fee (0 gpplic abl i a | Faiiier Aol pony Pssst en] Ix]... 14,000 ‘Ry Ad}, sobs pele ot . . fue . . B compnvabies 284,000 281,750 [we abnig 1__ 272,000 : e A f “pay Comments on Sale; Comparison (Incherng recercifiattan ef ali Indicators nf vnlbe ay to consistoney: And relative strength and evaluation onttvatian ia tut mattel): ALL COMPARABLES ARG WITHIN SUBJECT'S MARKET AREA COMP #1 AND #2 ARE OUPLEXS WITH Uf Me types inven stporehny' SIMILAR LIVING AREA, COMP §2_ONE UNIT IS 4 THREE BEDROOM 2 BATH THAT IS OWNER OCCUPIED, SINCE OWNER. OCCUPIED MARKET RENT WAS USED.UNITS ADJUSTMENTS ARE BASED ON INCOME POTENTIAL INCOME, COMP 13 1S A SUBJECT COMPARARLE NO 1 COMPARADLE NO, 2 TRIPLEX.BUT HAS SIMILAR BEDROOM COUNT BUT WAS ADJUSTED FOR POTENTIAL OF HIGHER RENT INCOME. (EM : COMPARARIE NO 3. WH Onic. Price sna Dota | 12°2572003 NO PRIOR SALE NO PRIOR SALE was/2003 Seasroe for prtor sakes 333,360 OR TRANSFER OR TRANSFER 150,000 vanin yer clagraby | PUBLIC RECORDS | PAST 3 YEARS PAST 3 YEARS. PUBLIC RECORDS SUBJECT WAS NOT FOUND LISTED IN MLS Analyzis of any curtent agreemem of sale, alan, ow asting of the subtact pinpeity and analysts of ary prey soe ct sunjeet end compevabics wfiNn one year cf the date of apewadsal Totat ross mnathly eulmaind rem S| ” A750 x gross rent muntphar (GAM) 165.00 »$ e 238,750 mOICATED VALUE BY INCOME APPROACH Commonis on income appraech (inckdinn expert ratees, # avakubte. and reconeitetian of me GAM) REVIEW OF SIMILAR INCOME PROPERTIES SUPPORTED A GRIM OF 180, WHICH IS TYPICAL OF THIS MARKET AREA. INDICATED VALUE AY SALES COMPARISON APPROACH By INDICATED VALUE BY INCOME APPROACH eg NOICATED VALUE BY COST APPROACH Bs This apprabsatts moog (X) “sie” Comneees and Conditarn of (J supperta ie repute. ateratnn, enpectons ex canaidoen tc hee 284,900 238,750 ' 285,284 au oO subjoct io rompienan per plans pnd sporMicaltons: MORTGAGE LENDING PURPOSES ONLY. , APPRAISAL MADE AS-IS, REPORT FOR USE BY CLIENT NAMED ON PAGE. ONE ONLY, FOR Hinai Reconctinion INCOME APPROACH AND SALES COMPARISON APPROACH WERE WEIGHTED MOST AND SUPPORTED A FINAL ESTIMATE OF 284,000. COST APPROACH 1S NOT CONSIDERED 10 BE A RELIABLE INDICATOR OF VALUE AND WAS NOT WEIGHTED (HIGH IS THE DATE GF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT TORE F The putposa of this appvataatts to estlmate tha morkat vakie of the mal Broperty thot Is ihe subjent of shi: report, hosed on Ibe above condihing and the certification, contingent and kimlting condhlons, and market value definition tha) avr stated In the attached Freditie Mor, Farm @19)¢anmie Mae Form 10048 (Revsed 6/93. ho (WE) ESTIMATE THE MARKET VALUE, AS DEFINCD, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THS REPORT, ASCE B/25/20NS 9 . 3 Z . , SUPERVISO! Ri INLY IF REQUIRED), : Fa Strate ha bd? Signame fl Clow Coit nn F Nome PATRICIA A WILSON tome RICHARD A HLLO. inspect Property Py Dex Ranert Siet OB/I0/2005. Daly Raper Signet 9701/2005, Ceniicarton » Sloe Stata Centfieanan # ST CERT. Store Fl Oy Stute Ucense ¢ REGISTER STATE TRAINEE Ri-104S2 Sie, FL Or Sine titenss + treoale Mac bom fe wee PROL « OF Fietcart wire Meare PALI M RL? — ee my Citywide Appraisal EAHIBIT DAC a 7 REA #ROID1IS UVa Ce sas | nk 128/67 alhd Nov 19 2007 11:32 11/19/2887 12:15 8549219186 DBPR FLOORPLAN Doerawer, HERMIS LINARES Es Nos Bos0030 1 Propeny Addtass: 2942 NW 15TH AVE js - City; Mian State: FL Tip. sande ender: MARLIN MORTGAGE _ 15 tsa ‘ i Farnlly Family Room Room Kiernan 8 . B Ohing ining aan Aron . in fl Living Room tdvlng Rene Bedroom ws i i { ; i i i. i Sere ny Ry HE” 1 Commante, 1 — UNIT ane vrtr a Porch Btorapa Storage ( Rounded } Ne! LIVABLE Aras i (Rounded } yea ADMINIg HWA fie Ula LAY EXHIBIT 3# $— Toe a [5 oF —_____— PAGE PAGE 11/67 br Nov 19 2007 11:32 11/1942887 12:15 8589219186 DBPR PAGE 12/67 SUBJECT PROPERTY PHOTO ADDENDUM Fila No. @050030 Case No.: Property Address:2342 Nw 15TH AVE City: MAM) Stole: FL. Lender: MARLIN MORTGAGE t | Zip: 33142, | Borrower; HERMIS LINARES FRONT view ‘OF SUBJECT PROPERTY Appralscd Ople: AUGUST 25, 2005 Appraised Value: § 284,000 REAR VIEW OF : SUBJECT PROPERTY oe ' RAIIVE COMPLAINT i/{2 Nov 19 200? 11: 11/19/2087 12:15 8589219166 DEPR nes PAGE 13/67 COMPARABLE PROPERTY PHOTO ADDENDUM Borrower: HERMIS UNARES Fite No.: a0sodsd, Property Address: 2042 NW 15TH AVE Case Na.: City: MIAMI : State: FL Zip: 33142 Lender MARLIN MORTGAGE - / COMPARABLE SALE #1 2446 NW 18TH TERRACE MIAMI . Sale Oate: 27032005 Sale Price: S 289,000 - COMPARABLE SALE #2 2922 NW 22ND COURT MIAMI Sale Date: 6/20/2005 Sale Price: & 280,000 COMPARABLE SALE #3 2153 NW 24RD STREGT MIAM| Sole Date: 5/5/2005 Sale Price: $ 286,000 Nov 19 200? 11:33 11/19/2887 12:15 9569219186 DBPR PAGE 14/87 COMPETING LISTING PHOTO ADDENDUM Borrower: HERMIS LINARES - File No.: 8050030 Property Address: 2302 NW ISTH AVE, Case No.: City: MIAMI Stale: Fu Jip: 33442 Lender: MARUIN MORTGAGE. COMPETING LISTING #1 2800 NW 21 AVENUE MIAMI . ; Listing Price: § 325.000 . te Days-On- Market: 60 COMPETING LISTING 42 2451 NW 32ND STREET MIAMI Listing Price; S 298,000 Days-On-Market: 36 COMPETING LISTING #3 - 1321 NW 2BTH STREET MIAMI . Usting Price: $ 310,000 Days-On-Market’ 10 ADMINISTRATIVE CONPLAINT EXHIBIT # PAGE 9 og 11/1942@87 «12:15 8509219186 Nov 19 2007 11:34 DEPR PAGE Borrower. HERMIS LINARES File No: BOSODI0 Property Address: 2342 NW 15TH AVE. Case No: City: MIAMI Ste: FL Zip: 33142 Lender: MARLIN| MORTGAGE SEPARATE METERS KITCHEN UNIT 4 LIVING ROOM UNIT 15/67 11/1942087 12:15 Nov 19 200? 11:34 8589219186 DEPR Bonewer: HERMIS LINARES. File Na 8050030 Property Address: 2302 NW 15TH AVE. Case Now ‘Chy: MIAMI Sue: FL Zig: T3142 Lender: MARLIN MORTGAGE. UNIT 2 CQURTYARD LW ING t PAGE | EXHIBIT jo UNIT 2 BATHROOM LIVING ROOM UNIT 2 asi rele eT PAGE 16/67 OF iff Nov 19 200? 11:35 11/19/2887 12:15 8589219186 DEPR PAGE 17/67 LOCATION MAP Borrowcr HERMIS LINARES: File No..” 8050030 Propeny Address 2342 NW ISTH AVE Case No: City: MIAME State: FL Zig: 33142 Lender: MARLIN. MORTGAGE. : nw dam % Bo. x ES 2 Muy arth Terrace 2. met wi be . : 8 i g is Ny 27th Bt “paies c ay. 3 . . = i nw ath st to f'< 2 a fan’) oF z 2 =. 7 = : sz abt Nvw AGth ST =F ae ~ us 4. 2 Be Fe FF = = BN peragth SOF > BEB aon Bs et F.2 2 -# EF NW Odd Gg PB. aL a rr re . Hy ive and St. Ma And . z Ne-stas St. NY Arar St NW BBN sl “aw srt ° “hams cure Mi rawpents ).f JAN SVAREY ¥ AFI. Nw 23a -St NW 32nd, St” “napa gy N00 nw Jats St hw 308 St wow ity nw: ain SI “sNw am Sr eo Ye Nw tates x . NW Alte S- Hy a Le * Oth: 1 * 2 NW afb Toracn - 's = . na fuw3gih, 9 i % nv. 18th Ste ra in a Stony $Blie Trace. © yyy sigin Terace x * . UO geary 0 a AB gE : ee Cartle Park NW. 17th St” : . a . . . tm _ NWlBin Taree Gy re Oe: | : . Gy 4 “Ney NW s6In, St ¢ 3 gles 2 qo Nw 15 SI 3 7 Ole 5 . . . * oe. a = nw {5th Stay a6ih St es VO Fa ~ . . Nw Ith SI “ nw tdn St z . eww tomy : ey : FA he z- = . EN : MW: [2th St 2 ki ae * Sumo) Pou : NW 11th Sy HW th Stop Ttth Si z “MW 4th St aa) 25 ‘An St ES tS z 3 NW Sth St wwon BS EB =. « NW Bin Tetrace Pg ns“ mos perag oof. 5 E 7” a) Ag Ey _ £ Zz 5 2 - hw 7th Si. r aor) etm ere one B7CU MAG tpeeD be, ” Zz hw Ath Gt ag he EXHis: | 1 ft Oo PAGE OF y/f9 Nov 19 2007 11:35 11/19/2887 © 12:15 8589219186 DBPR FlaNo. 8050030 DEFINITION OF MARKET VALUE: The most probable price which Property should bring in a comprlitiwe and open market under all condlvans requisite to a fair sale, tha buyer and caller, each acting prudently, knowiedgeably and assuming the price ts not allected by undve stimulus Implicit In this definitton is the consummeatinn of a sale as af 2 spocifled date and ine passing al te from seller to buyer unger conditions whereby: (1) buyer and seller are lypically motivated, (2) both parlias are well informod ar well advisod. ane each acting in whol he considers bls awn hest erest; (3} reasonable (Ime is ollowad for exposure in the open market; {4) payment is made In terms of cash in U.S, daitars or in terms al financial atrangements comparable thercta: And (5) the price represents the nopmat Consideration for the property sold unatfectsd by special or creative {inanceng or sales concessions” granted by anyone associated with the sale, “Adjustments tothe comparabtes must be made tor ‘Special ot creative Iinancing of sales concessions. No adusiments are nncessaty fos those costs which ara normally pard by sollers a3 a resutt al tradition of tuw in a market area; thaso coms are teadily ideniifiable since the Sola? pays these costs in virtually atl sales transactions. Special or creathic financing adjustments can ba made (a the comparable propeity by comparizons to Rnancing terms allerad by a third party institutlonal fender that fs mot already Involved in the properly of tansaction, Any Adjustment shoutd no} be calculared op a mechaneat doviar tor dollar cost of ihe flnnncing of concession bul the doles amaunt of any adjustment should approximaic the market's reacuon to |he financing of concessions tasad on the Appraiser’s Judgment . STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: the apprarsar’s cevtifcation that appears In the appraisal roport is subject to the following condos: 1. The appraiser will not be cosponaible for matters of a legal nature that affect elther the property heing appralsad or the bite tok. The appralser assumes that the tite is good and marketable and, therefore, will nal renvfer any opinions abawd the hile The propor ty Wsappraned th the bnsls of lt beng under raspansibla ownership, 2. Tho appralscr nas provided 2 skatch In the apprnlsal report to show approximate dimensions of the improvements and the sketch !s inctudod only to assist the render of the report In visualizing the property and under steading the appralsm's deternunation of Hs alae. . 3. The appralser bas examined the avaitabta toad maps that are provided ty the Fedaral Emesgency Managsment Agency (or ather data - Zourcos) and has nnied In Ihe appraisal roport whether the subjact site Is located in an idenilfied Special Finad Hazad Airs. Becouse whe , appralser fs nat a surveyor, ha or she makes no Quarameas, axptess or Implied, regarding inls determination. 4, The appraiser will aot givo testimony OF appear in court Dresuse he or she made an appraisal of the Btapcrly In question. untess spacific arrangements (8 do So hau9 beon made befarchand. 5. The appraiser has cslimated the vatue of the lane tn Ihe cost Approach atits highest and hest use and the Improvements al thelr contributory vatue, These scparntec valuations of the (and and Improvements must not De usd In conjunction wilt any nther apprarsat and ARre ervalid if they ore so used, . 6. Tho appraisor has notco In the Appentsal repon any adverse condlians (such as, needca repals, depreciation, te presence of hpzardous + waslos, toxic substances, ctc. } observed tturing the inspeciton of me sutyact properly or tal he or she became aware of during the normal sascarch lnvolund in petinerning the appraisal. Untass ottierwise stated in the approlsnl report, the Appraiser has no knowledge of nny hidden Of URAPpArent Conditions ai the property oF advcrse environmental conditinns {ingtuding the presence of Hazardous wastes, (oxic substances, etc. } that would make Ihe Property mora of less valuable, ard has assumed that hare aie no such conditions and makes no guaranteas of warranties. express or Impited, regarding:the conaltinn of the property. The appralser wilt not be responsible far any such Conditions that do cxisl of for any engineering of testing that tight be required to discovor whether such conditions exist, Because the eppraisar is nol an expen in the field nf environmental hazards, lhe appraisal repart myst not be consivorad as an envucnmentat ‘TsSessMent of the property. 7. The appraiser obtained tho information, estimates, and opinions that worn Capressed in the appraisal report from sources that he of she considers to be rehable and beliewgs them to br (tue and cortect, The Appraiser ders mat assume responsibility for the accuracy of such Gems that erore fumished by other parties, 8. The appraiser wil not disclose the contents of the appraisat rapart except as provided far in the Unilorm Standards of Professional Appraisal Praciice, . ‘ . 9. The nppratser hag hased nls or her Appraisal /eport and valialien conclisinn for an appraisal that 1s ‘subject to sallstactory completion, sopais. or alterations on the assumption [hat completion of the imptovamonts Wit be performed in a vockmantke manna. 40. The appraiser must provide his of hor prlor written consent belore the tendorichant specifica x the appinisal report cary sistributa Ihe appraisal report {including conclusions ‘about the property vatin, the anpreiser’s identity and pratossional sesignations..and references to “any professtanal appraisal argenizations of the tum with which the appratser ts associated ) ta anyone alher than tha bottower: the mortgagee or its successors and assigns; the mortgage insurer; consultanis: professionat appralsal organizations; any state or federally - Tpproved Financial institution, or any uepartment, agency, or instrumentalty of the United States of any stato or the Distilct of Columbia, @xcapt that the lendarictiant may distibute the Oroperty description section of the report only to dala collection o toporting sennce(s) without heving to abtam the appraiser's prior written consent. The apprelser’s written onsen| and apprnvat must also be ebtainad betore (he appraisal can be conveyed by enyone to the puble Ubrought advertising. public relations. news, sales, of ather mndia, spit DL PINT Fannle Mae Farm 10098 6-93 Fiendin Mac Form 439 6.93 PAGE 18/67 11/19/2887 Nov 19 200? 11:36 12:15 8589219186 ‘ DEPR Fre No, BOSODIO APPRAISERS CERTIFICATION: The Appraiser cortifics und agrees that: 1. Phava ceseniched the subject market area and have selected a minimum of tree recent sales of properies most similar and proximate to the subject ploparty for consideration Im the salas comparison analysis aad have made a dollar adjustment when appropiime to allect he market reaction to those itams of significant vasiation. If significant em in a comparable property is Superior to , of mare favorable than, the subject property, ? have made d negative adjustment to raduce (he adjusted salas price of tho comparabia and. if a significant item ha enmparable propkity is inferiot tn, ar lass favorable than the subject property. | have made a pnsitive adjustment to Increase (he adjusted galys pilce of tha comparable . . 2, J hava Laken into, consideration tha factors that have: an mpact on valua in my devalopment of tho estimate of markal value in the appraisal report. ) have sol kausmngly withheld any signittcant formation tram the appraisat report and ¢ beliewa, to the Dest of my knowledge, that all statements and inarmation an thre appraisal raport are ius and conect, 3. stated in the appratsal roport only my own personal, unbiased, and professional analysis, opmnieng, and conclusions, which are supject only In the contmgent and linking condiions specified in this form, - 4, Shave no prasent of prospective Interest In the property that is the subject to this reporl, and | have eo present or prosperiiva personat interest or bias with tespact to the participants In the transaction. | dld nat base, olther partially or complatoly, my anatysls andior the estimate of market value inthe appralsal ceport on the race, color, religion. sex, hondicep, familial satus, or national avignn of eltlrs the plospertive awnors oF accupants of tie subject property af of tha present owners or occupants of the properties in tha vicinity of the ‘subject property. §. Chave ne present of contempinted future interest in the subject propeily, and neither my-cutrent oF (yture employment nor my * compnnsatlon for performing this apprarsal fs contingent on tho appralsed valuc of (he propoy. 6. 1 Wa5 NOt required to report B predetermined value of directlon in valuc that favers thr cause of the client or any related party. the amount of the value estimate, the atlainment af a sprcilrc resull, of the occurrence of a subsequent avont In order to tecelve my compensation and/or employment for parforming tha appraisal. | did not base (he appratsai report on a requested minimum vatuatton, + Specific valualion, or the need ta approve o specific. mongage lnan. 7. P performed this appraisal In conformity with the Unitorm Standards of Professional Appralsal Practica that were adopted and promulgaind by the Apprersat Standards Board of The Appralse! Foundailon and that were In piace as of te eflective date of this appralsal, wth the exception of ine departure provision of thase Standards, which Goes nol apply. } acknowledge thal an estimata of a reasonable time for exposure in the open mathet 1s 0 condition.In the dafmilion of markel valve and ihe estimate | devaloped Is cansisteol with the marketing time noted the nelghbohond section ofthis repon, unless I have alherwise stated ls the rheancikation section, 8, Thave personally inspactao the Interior and exterior ares of tHe svojecl property and the matersor of all prapentias fisted as comparanies Inthe appraisal report. | further cerilty that { hava noten any spparadt or knawn adverse conditions in tha subfect improvements, on the Subject site, of on nny site within the Immediate vitinlly of the subject properly of which | am aware and have'made adjustmenis lor theso adverse conditions jn my analysis of the praprity value to te getent that! had marked evidencs to support tham, shave alsn commented ‘Ado the eflect of the adverse conciilons on the mafkalabitty of the subjact propery, BD } personally prepared all conclusions and apmians about the rest estate that were sal forth In the appralsal tepart Wt relied on sipnitlcant professional assistance from any individual or individals in the performance of the sppraraal o¢ tha preparation of the appraisal _ Meporl, t have named such individual(s) nnd discloses the specific tazks performed by them In the reconciliation section af this apptuisat report, | centty that any (ndividual so named fs qualified to perform the tasks. Ihave not authorized anyone to mako a change to any [tem in tha ropor; Ibercforr, fan unauthonzed change Is made to the appraisal mpart, | will take no responsibility for i. SUPERVISORY APPRAISER'S CERTIFICATION: Ifa supervisory appratser signed the appratsal report. Ne or she certifies and agres that: | directly supervise the appraiser who prepared the appraisal repoit, hava ¢avlewnd (he appraisal report. agice with the statemmis'and conclusions of the oppralicr. agree to be bound dy the appraiser's cenifications mumberad 4 trough 7 stove, and am taking fun responsiblldy (ar the appralsal and tha appralsal ipport, ADDRESS OF PROPERTY APPRAISED: 2942 NW_ISTH AVE, MIAMI, Fl 33142 APPRAISER: SUPERVISORY APPRAISER (only If required) Signature: Chien a Teele. Signature: fatal Low Name: PATRICIA B WILSON Nami: RICHARD A JARAMILLO Date Signed 08/30; Dale Signed 9/01/2009) Stole Centificalin #: Slato Cenification F ST GERT REA ARDADIS ay State Usense ¥*, REGISTER STATE TRAINEE RI-10452 or State Licanse 4, State: PL, : : ‘State. FL Expwation Qate of Csrtiication or License: 11/30/2006 Explrton Oote of Cemficanon or License” 31/30/2006 (x) a (2) die Mot inspect Pioprery Freddie Moc Form 439893 ne Pagez2 ve oa, Faluie Nae Fray W004. 6100 & se 12. PAGE oy ho 19/67 Nov 19 2007 11:36 PAGE 28/67 11/19/2087 12:15 8589219186 DEPR File No: 8050030 Bonower: HERMIS LINARES TE Cose No.: Property Address: 2342 Nw {STH A’ " Zp 39342 Clly: MIAMI State: FL BP Lender: MARLIN MORTGAGE. Yt Sfp we be wrens Nov 19 200? 11:36 11/19/2088 12:15 8589219186 Z 2 7 2 )BPR PAGE 21/67 USPAP COMPLIANCE ADDENDUM. : : Mic Ne, 8050030 Wornwdr HERMIS LINARES, Onter a Srupeny adders 2342 NW. ISTH AVE. : hy MIAMI) Conny MIAM! DADE : Sate EL Zip Code 93192 : : LendcyCilem MARLIN MORTGAGE. Cilers Acftrenea . ae <== —— Prixsharetiems checkatL A) helo analy tose caret y 19 [K} The pieyore af the apyiraiat ls Wo provide on pinion of mneket valine of the vulyect property ny defined In this repert, on behstFor tke appreleat company Peiitating the avsignmant [ar tho referenced ellent as the Terenden user ofthe regan, The anly fincron af the sppralsal v1 to oatit tho ENent mentaned tn thls report In zyatunling the subject property (ne lending Dermages. The use af thn Appmesal by anyons other wee the Ueated Intendee ney. ef far any offer wee than the ctxtrd inionded irc, is problbitert (0) The purpose af ihe nppralzal a #9 provide a apron af marke: unino of the subject properry, #t defined in thls rogon, on bebelf af ine anpresent company fiallilahnr, the azaigrimant fat the referenced clienl ax the yntended er ofthigrencn The andy fencisan of the appraisal tx 10 wualst the Eftent mentioned sh ina report In evaliaring the Nubject property Real Estala Owned (RED) purpose, ‘The war of thle appralanl by Anyone aiher hen the states Inticngerl user, oF fer any ater uae thnn the stnled (ntearted nea, if proibstedt, . . . [T]: The murpote of thts appratsal is to op hehaif of the appraleal company faelifteting the nesignment far the reforcnced chent as the Intended Urer of hin tenon, The only funcnon BT the nppmiienl s 10 anatel the cltem mentioned in thes trpart on evalunting te subjoct property Tor te. of far any aihet sae than the aFBTELTATEREGT ETN prOMTTER Spay ae re Oy Te SpRULS ALAND AEPRATS AL MEFOR, Nha trite ati nents RAI i Tht ya Comploto. Appraant orinen in» Summary Repub furmut eeilhe USPAP Deprrture Mule her ot heen invules, This to a Limited Appealeal writen ans Repan format andthe USPAP Depernure Nite Aas been Invoked av alectency |e the body or andends of Ne eepor, The elent hoa agreed at n Ltmtied Appentsal 1 wulfsicnt for iy purneNeS whe ung of thie appralant by anysne olher than the stated Intended [iq] The appraitat ip Haxed an she wnformetion aathcred by the eppmlacr fbn public feconls, niher ident fed sources, Taspretion of the wubjcct property and neiphbothoad, and scleailon af camparnble volar, listings, andne rontale within the aubjact mesket hres. Tha original rovree of thr, comparshles ss thown In the Ona Foruree peetion of the market grid atong wlth the source pf eanfirmasln, iP avalialte. The ariginal rowree: in . preacnied fits. The wourcea wna data are oemittercd rohable. When enofveting Infrmation war provided, the anurce Ceemed most reimble hav enn act, Pata beliewed ta bo unreloble wan nor snclurted in the report har vecd nan hows far the volus conclusion, The extent of npatyals npplied in thle ageienment rary he further Impanied w thin the fepert, the Appralacr's Conificatinn holow and/or Any piber Statersont of Limiting. Conditions nnd Appraiters Cenificwinn auch a9 mony: be mitted w)ihin che Mreddde Mac fon 639 np Fanme Mec form tOndb tdeved 693). when * npiplienble, A exsunnbla mathesing tem for tha subyers pruperty b A rensunable expowre lie for the aubjeet property i2 OD ic ee at ce Tocrtify thm, an the bast af my knowlenge and boblet : = The stuements af Fret contelned an thle report pre trve aml cerercct. + The reponiad ronlytes, opin nd concluationg are Imltod only hy the nepariad nbsumphons and Nmiting condinone,ond are my poryorel, 2 . ; Imparuat, and unbiatc# proficsionat annysat, opinions, and eonclurlone . < thava pe prerent or prospective nicreat in tho prnperty than ia the wwbjeet of thie report, nnd Nn perma Inverest with veepeet 10 the partie lnvalued, unless otherwise steled eathin [he report, . . = Enave ne bins with rexpact to the'property thal f+ the abjeet af thin reper, oro Iho pnrtics Invalvnd with this aselgnment, My engagement in shfe nezignatent wnt not contingcht pan drvclaping or reperving prodcicrenlned ents tin on 1 Myconpensatton for completing thle avsignment Tt pot contingent wprn the develnpment or teporina af n petererined wale nt traction In aloe they reors the eave of he elven, the Armin of the vale apinray, the atRinment a3 stipwlntad sexu, the peeurTence OF ubyeRe RE event dircenly relnied to the invended wre oF this appemisnd Sy abafyscx oplniene. and eonclunvand were daveloped, and thie repart han heen prepares, In eanfarmiry wath the UstTorm Svendarda of . Penfeationst Apptatant Prectice. : : thave [37 nehave not L_) made a nersnnal angpection of ths properry tht It the tubjece of tit report, (Af more than ane person signs thle report, thle ceraenton ust cvatly opcalfy whlch indvstuale id and Which wndividuale did aot make @ pevennal Inypeerion of the nppusel Bronery ) +. None provided slgnitennt proterslimel xaistanec to the peraan signing cht report, (IF these Are exccprione, the name iif cach Indtvidust prnetding eignlflenot grafeyslonat atziitanee nalat ho sine.) ‘ MOTE Inthe eate of anv canfiier with m ellent provvted ceriiicatton (te. Fannle Mog ar Freddie Mfc), tits reviord ecetificaiton shnlt take preerdence . = Snporviory Appenlses Certifieatian: Uf n supcrvtaacy ‘appralecr vigned she nppeaisal report, he ae ake ceslifier nd narces thar fdlrcetly dupervite the apprnitoe wha prepared We appraisal repor have reviewed the appraizal report, agrer wlth tho stalements pnd conclusions af . . the npptaleer, ngroo tn be hound ky the appeaisur's cert fisutons numbered 2-7 and 9 on the second pare af Preddic Maa Fora 4396.99 Fannle Mae Form 100AD 8-23, ne the third pago of Form 2055, and am taking (ull responsibility for the mnpraceal repel” Signaniees Name: PATRICIA B WILSON. Dare the Report wns Signet: 08/40/2005 Date the epomt wat Signed: 9/01/2005 Atata Cortifinalign Sine Cenifieatons ST CERT REA HROIBIS or Stats Liem REGISTER STATE TRAINEE RI-10152 or Slats Peewee . 2 States FL “Save; Fh, Papironon Dare nf Cenificanen or Lieente 41/30/2006 Barns Dee of Cemfcarion or Lreante: 11/30/2008 Did inmexet mnhjers property Unspocied Comparablce Inet & Exenor : Inner & Beery yuh! WT Enrcrtorontyy pi gh es BEN Eatin ™ LGA Coretanes Artest : tart : +. ee Nov 19 2007 11:37 11/19/2887 12:15 8589219186 DBPR PAGE 22/67 Nov 19 2007 11:39 11/19/2887 12:15 8549219186 DBPR PAGE 23/67 Side ESMOBLiN AAT ADMINISTRA (IVE COMELSINT EXHIBIT ype) PAGE Nov 19 200? 11:40 11/19/2607 12:15 8589219186 DBPR PAGE 24/67 ADMINIST RAVE COMP LAINT fp ee So Nav 19 200? 11:41 11/19/2087 © 12:15 8589219186 DBPR _ PAGE 25/67 ADMINISTRATIVE COMPLAINT nrnenennemre ee eed OF 11/19/2887 12:15 8589219186 me ne “DEPR Nov 19 200? 11:42 eka AWM EXHIBIT Hs PAGE __ PAGE 26/67 11/19/2887 12:15 8549219186 DBPR Nov 19 2007 11:43 ALT EXFERIT aes ave ‘STR LAINT PAGE 27/67 11/19/2007 12:15 85892191 86 Nov 19 2007 11:45 DEPR PAGE DMINIGTRATIVE COMPLAINT BOM EXHIBIT Bhat a —_———-—— — PAGE ‘pe 28/67 Nov 19 2007 11:46 11/1972887 12:15 8589219186 - DEPR PAGE 29/67 YAP LAIN T he — OF ee 11/19/2807 12:15 8589219186 DBPR Nov 19 200? 11:4? PAGE 38/67 : : Nov 19 200? 11:48 11/19/2887 12:15 8589219186 DBPR PAGE 31/657 apis nd ve COMPLALST . . EXHIBIT 4g ——-———— PAGE 72 _ OF ————-—~ 11/19/2087 12:15 8589219186 DEPR Nov 19 2008 1148 PAGE 32/67 COME LA ADMIN EXHIBIT #2. - page fo OF Wee 11/19/2887 12:15 8589219186 DBPR Nov i9 20Qf 11:51 AONE PAGE 33/67 Nov 19 2007 11:52 11/19/2087 12:15 8589219186 DBPR PAGE 34/67 STRATE ADMITS EMH! cacy be NI cet oneger sees 11/19/2887 12:15 8589219186 posits Nov lo 200f 1533 DBPR k PP YESET th 1g PASE ae ror Aa ee nn eaaed PAGE 35/67 11/19/2887 12:15 Nov 19 200? 11:54 9589219186 DEPR FANT ATE COW ADMIMIST que a PAGE silt tg ——— 36/67 Nov 19 2007 11:55 11/19/2087 12:15 B589219186 DBPR PAGE 37/67 Nov 19 2007 11:57 11/19/2887 12:15 8589219186 DBPR PAGE 38/67 ADMINISTRATIVE ‘COMPLAINT. EXHIBIT HQ OF _- PAGE / 11/19/2667 12:15 8589219186 WOV Lo £UUF 11-30 DBPR ADMIPIS PRs Live. Gini Lat EXHIBIT feo pace 78 oor (ee eee PAGE 39/67 Nov 19 200? 11:59 11/19/2887 12:15 8589219186 DBPR PAGE 48/67 | ADMINIS TR AYE coe LAST | WTR oe tty [34 7) ee —— a) it oe PAGE Wo Nov 19 2007 12:00 11/19/2807 12:15 8569219186 DEPR PAGE 41/67 $e PRA 2b... er NOV Lo 2UuUr Lle-Ul 11/19/2687 12:15 8589219186 DEPR PAGE 42/57 CORPLAINT Nov 19 200? 12:02 11/19/2887 12:15 8549219186 : DEPR PAGE 43/67 ADMINISTRA live, CUMPLAINT mo EXHIBIT Ho? . PAGE 2% OF ; Nov 19 200? 12:03 11/1942887 12:15 8569219186 DBPR . , PAGE 44/67 . oe ADMINISTRATIVE COMPLAINT EXHIBIT #O PAGE __ Nov 19 2007 12:05 11/19/2087 12:15 9589219186 DBPR PAGE 45/67 ADMINIST COMELAMT Wov to 20Uc 12-06 11/19/2887 12:15 8589219186 DBPR PAGE 46/67 ADMIESISTR Nov 19 200? 12:07 11/19/2887 12:15 9589219186 DBPR PAGE 47/67 ADMINISTRA liv COMPLAINT - EXHIBIT #@ . PAGE __ &b OF 11/19/2887 12:15 8589219186 Nov 19 200? 12:08 DSPR PAGE ADMINISTRATIVE COMPLAINT CME) eee — ae rT page 2? OF LL 48/67 ; Nov 19 2007 12:09 . 11/19/2087 12:15 8589219186 DBPR PAGE 49/67 AGMINISTPATIVE COMPLAINT EXHIBIT #2 PAGE 28 oar. — ee ro rere . - UV $F SUE AL ll 11/19/2887 12:15 8589219186 DBPR - PAGE 58/67 AUER Ty EXMEBIT dé, . ‘PAGE _ & Nov i9 2U0¢ id-il 11/19/2087 12:15 8569219186 DBPR PAGE 51/67 Nov 19 200? 12:12 PAGE 52/67 DBPR 8589219186 11/19/2@87 «12:15 rerhd Pape “vpaypa eedepadce ayjaeds uy’ O's DOO ILS GIS SEF ATsRic,, ‘yosjusdne unde sz} eBoy Rjevudse uiRURW FNL Nd/, LC pay Wi, Ee ‘Onei9 y THFO SULTS ‘wewyoubysen oR PT em CGY, ee ee 7 Minas i. io ES — “LUGE % OPEL peeve Ut EL SZ a a Oia PEELED Fe 5A ZF il a Bi on ~ ELAE MELAS, fe BY Le Li, eas HE : PD TALE EE a7 77) mE peA adi Peuluajeg Hoy F Fewddpys auen Wey ‘tiie Aiblog adky Ausdoid ~~ aieq To} Jo JauUETaY bu SEEN que! Sy . 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