@ & Ps, STATE OF FLORIDA py a AO ps DEPARTMENT OF BUSINESS & PROFESSIONAL REGULATION “Og ~ 4 FLORIDA REAL ESTATE APPRAISAL BOARD FLORIDA DEPARTMENT OF BUSINESS & PROFESSIONAL REGULATION, a DIVISION OF REAL ESTATE, 0 4. OA ° Petitioner, v. ; ; CASE NO. 2008005568 GUILLERMO ESCOBAR, Respondent. ADMINISTRATIVE COMPLAINT The Florida Department of Business & Professional Regulation, Division of Real Estate ("Petitioner") files this Administrative Complaint against Guillermo Escobar ("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 rules promulgated thereunder. 2. Respondent is currently a Florida state registered trainee appraiser having been issued license 3323 in accordance with Chapter 475 Part II of the’ Florida Statutes. 3. The last license the State issued to Respondent was as a state registered trainee appraiser at 12250 SW 132 Court #107, H:AFREAB\Escobar.doc ‘ 1 FDBPR v. Guillermo Escobar Case No. 2008005568 Administrative Complaint Miami, Florida 33186 under the supervision of Julio Diaz. 4. On or about June 14, 2007, Respondent developed and communicated an appraisal report (Report) on a property commonly known as 10275 Collins Avenue, Unit 1110, Bal Harbor, Florida 33154 (Subject Property), valuing the Subject Property at $1,400,000. A copy of the Report as obtained from the lender is attached hereto and incorporated herein as Administrative Complaint Exhibit 1. 5. During the Petitioner's investigation, Respondent produced a different copy of the Report (Report 2) showing additional Comparable Sales, 7-9, but not the version possessed by the lender. A copy of Report 2 is attached hereto as Administrative Complaint Exhibit 2. 6. Respondent claimed that he was supervised in the preparation of the appraisal report on the Subject Property by Suyin Decastro, who was aware of the assignment and affixed her digital signature to the Report as Respondent's supervisor. — 7. Suyin Decastro denied knowledge of the Report and demonstrated for Petitioner’s investigator how she had been shown how to open an appraisal report maintained in Adobe Acrobat (PDF) format, to copy the digital signature and paste it to other appraisal reports. ) . 8. Suyin Decastro provided the investigator with the Subject H:\FREAB\Escobar.doc ‘ 2 FDBPR v. Guillermo Escobar Case No. 2008005568 Administrative Complaint Property work file she claims she obtained after notification of the Petitioner’s investigation and before she was “locked out” of Respondent’s office and no longer of record as Respondent’s supervisor (February 6, 2008), as evidenced. by the form RE 2060, a copy of which is attached hereto and incorporated herein as Administrative Complaint Exhibit 3. 9. The work file contains numerous documents purporting to support the value conclusions contained in the Report and the selection of appropriate Comparable Sales, but these documents bear printout dates after the effective date of the Report but before the breakup date of the supervisory relationship with Respondent. A copy of the work file is attached hereto and incorporated herein as Administrative Complaint Exhibit 4. 10. Respondent states Suyin Decastro took the Subject Property work file, Respondent asked for its return, and Respondent has not received it. 11. Respondent made the following errors or omissions in the Report: A) Respondent omitted the unit number and listed the Subject Property city as Miami Beach on pages 1 and 3 of Exhibit 1, subsequently corrected to add the unit number and the city of Bal Harbor on Exhibit 2; H:\FREAB\Escobar.doc 3 FDBPR v. Guillermo Escobar Case No. 2008005568 Administrative Complaint B) Respondent stated on both Exhibits 1 and 2 that property values were increasing, demand/supply indicated a shortage, and marketing time was 3-6 months, when an appraisal review report (Review) commissioned by the lender, valuing the. Subject Property at $935,000, identified 39 units for sale in the Subject Property building, and approximately 350 arguably comparable units within a half-mile of the Subject Property as of the effective date of the Report. A copy of the Review is attached hereto and incorporated herein as Administrative Complaint Exhibit 5; C) Respondent identified in the two copies of the Report only 5 listings and 6 Comparable Sales in the Subject Property’s neighborhood within one year of the effective date of the Report; D) Respondent listed the specific zoning classification on Exhibit 1 as RM 60 and the zoning description as “apts (sic) housing, hotel minimu (sic) single family” replaced with 50 OF and “OF oceanfront, hotel, apartments” on Exhibit 2; E) Respondent listed on both Exhibits 1 and 2 a year built date of 1964/07 but failed to state that the Subject Property was in a hotel/condominium project; F) Respondent failed to state that Comparable Sale 1 was a multi-folio condominium located ina hotel /condominium project; G) Respondent listed “no prior sales within the building” on H:AFREAB\Escobar.doc : 4 FDBPR v. Guillermo Escobar Case No. 2008005568 Administrative Complaint . page 2 of both Exhibits 1 and 2, when Comparable Sale 4 was a January 2007 sale within the Subject Property building; H) The Comparable Sale 4 selling price of $850,000, when adjusted for floor level, did not support the value conclusion for the Subject Property; I) Respondent noted the gross living area for Comparable Sale 4 at 893 square feet, but did not adjust Comparable Sale 4 for the allegedly inferior square footage in comparison to the Subject ‘“Property’s stated 1496 square feet of gross living area; J) Respondent misstated the address of Comparable Sale 1 as 4401 Collins Avenue, #3501, Miami Beach Florida 33140 when the correct street address was 4441 Collins Avenue; K) Respondent failed to disclose a prior sale on January 25, 2007 of Comparable Sale 1, as indicated by documents in the Subject Property work file, Exhibit 4; L) Respondent misstated the gross living area of Comparable Sale 1 as 1496 square feet when public records indicated it had only 516 square feet as indicated by a printout from the Dade County Property Appraiser web site, a copy of which is attached hereto and incorporated herein as Administrative Complaint Exhibit 6; , M) Respondent noted.on both Exhibits 1 and 2 a March 2007 H:\FREAB\Escobar.doc : 5 FDBPR v. Guillermo Escobar Case No. 2008005568 Administrative Complaint sale of Comparable Sale 2 for $1,630,000 and a January 2007 prior sale of Comparable Sale 2 for $1,000,000, citing public records as a data source, but failed to note that the January 4, 2007 sale for $1,000,000 was not recorded until March 12, 2007 (as indicated by a copy of the deed attached hereto and incorporated herein as Administrative Complaint Exhibit 7), there was a March 16, 2007 sale of Comparable Sale 2 to a Philip B. Kirkorov, recorded March 26, 2007 (as indicated by a copy of the deed attached hereto and incorporated herein as Administrative Complaint Exhibit 8), anda May 25, 2007 quit claim deed from Philip B. Kirkorov to P, kK. Realty Management LLC, recorded June 5, 2007 (as indicated by a copy of the deed attached hereto and incorporated herein as Administrative Complaint Exhibit 9), and Comparable Sale 2 had,been previously MLS listed at $1,850,000, with Respondent disclosing only the January and March 2007 warranty deed sales, although Respondent had access to the public records regarding the quit claim deed and the MLS listing history of Comparable Sale 2; N) Respondent listed Comparable Sale 3's proximity to Subject Property at 0.01 miles northwest:, when in fact the review appraiser indicated it was 2.5 miles North, and Respondent changed Report 2 to indicate 1.84 miles, orally admitting the error to Petitioner's investigator; H:\FREAB\Escobar.doc . . 6 FDBPR v. Guillermo Escobar Case No. 2008005568 Administrative Complaint ©) Respondent stated there were no prior sales within 3 years of Comparable Sale 3, failing to note in Exhibit 1 or 2 a June 27, 2006 sale of Comparable Sale 3 from the developer to Spencer Seal, recorded June 30, 2006 for $1,330,000 (as evidenced by the deed, a copy of which is attached hereto and incorporated herein as Administrative Complaint Exhibit 10) and a November 8, 2006 sale from Spencer Seal to Turnberry Acquisitions for $1,535,000 (as evidenced by the deed recorded November 15, 2006, a copy of which is attached hereto and incorporated herein as Administrative Complaint Exhibit 11); P) Respondent per the review appraiser inadequately adjusted Comparable Sale 3 for its superior higher floor location or superior gross living area; Q) On both Exhibits 1 and 2, Respondent checked the box indicating that the appraisal was made subject to completion per plans and specifications, but no ‘identifying information was provided as to what repairs, or alterations, if any, were being made to the Subject Property; R) While indicating on the index page that there were 9 Comparable Sales, only the grid for numbers 7 and 8 contained information, for which there were no adjustments. , 12) Respondent submitted a:'written response to the complaint, HAFREAB\Escobar.doc : 7 FDBPR v. Guillermo Escobar . Case No. 2008005568 Administrative Complaint a copy of which is attached hereto and incorporated herein as Administrative Complaint Exhibit 12. 13. Respondent was previously disciplined for obtaining a registration by fraud for failing to disclose a previous cocaine trafficking conviction, as evidenced by a copy of Final Order BPR- 2007-07178, which is attached hereto and incorporated herein as Administrative Complaint Exhibit 13. COUNT ONE Based upon the foregoing, Respondent has violated a standard for the development or communication of a real estate appraisal, specifically the Definition of Signature, or other provision of the Uniform Standards of Professional Appraisal Practice (2006) in violation of Section 475.624(14), Florida Statutes. COUNT TWO Based upon the foregoing, Respondent has violated a standard for the development or communication of a real estate appraisal, specifically Standards Rule 1-1(a), (b), and (c), or other provision of the Uniform Standards of ‘Professional Appraisal Practice (2006) in violation of Section 475.624(14), Florida Statutes. _ COUNT THREE Based upon the foregoing, Respondent -has violated a standard HAFREAB\Escobar.doc . 8 FDBPR v. Guillermo Escobar Case No. 2008005568 Administrative Complaint for the development or communication of a real estate appraisal, specifically Standards Rule 1-2(e) (i) and (v), or other provision of the Uniform Standards of Professional Appraisal Practice (2006) in violation ‘of Section 475.624(14), Florida Statutes. COUNT FOUR Based upon the foregoing, Respondent has violated a standard for the development or communication of a real estate appraisal, specifically Standards Rule 1-4(a), or other provision of the Uniform Standards of Professional Appraisal Practice (2006) in violation of Section 475.624(14), Florida Statutes. , COUNT FIVE Based upon the foregoing, Respondent has violated a standard for the development or communication of a real estate appraisal, specifically Standards Rule 2-i(a), (b), and (c), or other provision of the Uniform Standards of Professional Appraisal Practice (2006) in violation of Section 475.624(14), Florida Statutes. COUNT SIX Based upon the foregoing, Respondent has violated a. standard for the development or communication of a real estate appraisal, specifically Standards Rule 2-2(b) (iii), or other provision of the Uniform Standards of Professional Appraisal Practice (2006) in H:AFREAB\Escobar.doc . 9 FDBPR v. Guillermo Escobar Case No. 2008005568 Administrative Complaint violation of Section 475.624(14), Florida Statutes. COUNT SEVEN Based upon the foregoing, Respondent has violated a standard for the development or communication of a real estate appraisal, specifically Standards Rule 2-3, or other provision of the Uniform Standards of Professional Appraisal Practice (2006) in violation of Section 475.624(14), Florida Statutes. COUNT EIGHT Based upon the foregoing, Respondent is guilty of failure to retain records for at least five years of any contracts engaging the appraiser's services, appraisal reports, and supporting data assembled and formulated by the appraiser in preparing appraisal reports in violation of Section 475.629, Florida Statutes, and, therefore, in violation of Section 475.624(4), Florida Statutes. . COUNT NINE Based upon the foregoing, Respondent is guilty of having had a registration suspended, revoked, or otherwise acted against in this state in violation of Section 475.624(6), 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 H:\FREAB\Escobar.doc . 10 FDBPR v. Guillermo Escobar Case No. 2008005568 Administrative Complaint 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 61731-8.002, 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 H:A\FREAB\Escobar.doc . NM FDBPR v. Guillermo Escobar Case No. 2008005568 Administrative Complaint 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. . SIGNED this 4 day of , 2008.- Florida Department of Busines and Professional Regulation Thomas O’Bryant, Jr., Director, Division of Real Estate weet ATTORNEY FOR PETITIONER ~eibtcnent of Profession ra Re 7 Division of Real Estate Donna Christine Lindamood Senior Attorney Fla. Bar No. 273694 Division of Real Estate Legal Section 400 W. Robinson Street, N801 Orlando, Florida 32801-1757 (407) 481-5632 (407) 317-7260 - FAX PCP: MR/CK 8/08 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. H:\FREAB\Escobar.doc : 12 FDBPR v. Guillermo Escobar Case No. 2008005568 Administrative Complaint PLEASE BE FURTHER 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 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 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. H:\FREAB\Escobar.doc “13 FROM: ACCESS APPRAISALS GROUP SERVICES, INC. 7334 SW 42 STREET MIAMI, FL 33155 Telephone Number: 305-265-5050 Fax Number: 305-266-6060 TO: STEPHANIE CELADA MJOP LENDER 8491 NW 17 ST MIAMI,, FL 33126 Internal Order #: Lender Case #: Client File # Main File # on form: + Q7-9609 Other File # on form: SUMMARY REPORT Federal Tax ID: 20-3286907 Employer ID: Telephone Number: (305) 406-3333 Fax Number: (305) 406-3344 Alternate Number: E-Mail: APPRAISALS@MJOP.COM Lender: MJOP LENDER Purchaser/Borrower: RICARD A SOUKVSAMIR EL SOUKI Property Address: 10275 Collins Ave City: MIAMI BEACH . County: MIAMI DADE State: FL Zip: 33154-1414 Legal Description: BAL. HARBOUR OCEAN FRONT ADDN PB 57-68 UNIT 1110 AKA THE NEW HARBOR HOUSE UNIT 1110 MJOP LENDER APPRAISAL FEE i 1007 RENT SCHEDULE i 425.00 216 OPERATING INCOME ESTATEMENT. : CLIENT DISCOUNT SUBTOTAL Description: Check #: Date: Description: Check #: Date: Description: SUBTOTAL . ALMINISTRATIVE © Lgemry ak Fam NMS — *WinTOTALappraistesttare by dh mo, Actas Anpralals Group PAGE Borrower/Clent RICARD A SOUKISAMIR EL SOUK! File No. 07-0609 Property Address 10275 Collins Ave. City MIAMI! BEACH County MIAMI DADE State_Ft Zp Code_33154-1414 Lender. MJOP LENDER TABLE OF CONTENTS invoice .. Building Sketch (Page - 1) .. Building Sketch (Page - 1) .. Condo ..... Additional Comparables 4-6 General Text Addendum . u Subject Photos ... 2 Subject Photos Interior 3 Subject Photos Interior “4 Photograph Addendum 6 Comparable Phatos 1- Single Family Comparable Rent Schedule .. EXHIBIT ¢_| ; as Pace @ ogg Form TOCP — "WinTOTAL* appraisal software by a la mode, inc. — 1-800-ALAMODE \ Page i) | Sn ene File No. 07-06091 Pace #2] Building ‘Sketch Borrower/Clent_ RICARD A SOUKI/SAMIR EL SOUKI Property Address_10275 Collins Ave : | City MIAMI BEACH. County MIAMI DADE, State FL Zp Code_ 33154-1414 MJOP LENDER BEDROOM BEDROOM DINING ROOM WOO" LVaY9 42 BATH KITCHEN ENTRY BATH BATH GLAL Floor Pian # 1110 P/P ‘BALCONY Net LIVABLE Area (Rounded) ADMINISTRATIVE CO BUILDING SKETCH [Borower(Glent RICARD A SOUKISAMIR EL SOUKI Property Address 10275 Collins Ave Ci MIAMI BEACH County_MiAM! DADE. State FL Zp Code_33154-1414 Lender MJOP LENDER . ADMIN encore Nn TESS Form SKT.BidSki — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE -uDit, [Page #4] a toe * . SUMMARY REPORT Individual Condominium Unit Appraisal Report File # 07-0609 ‘The purpose of this summar raisal report is to provide the lender/cient with.an accurate, and adequately supported, opinion of the market value of the subject pro, Access Appraisals Group Property Address_10275 Collins Ave Unit #1110 City MIAMI BEACH State FL___ Zp Code_ 33154-1414 Borrower RICARD A SOUKI/SAMIR EL. SOUKI Owner of Public Record TRG-HARBOUR HOUSE,LTD County MIAMI DADE U Descripfion_BAL HARBOUR OCEAN FRONT ADDN PB 57-68 UNIT 1110 AKA THE NEW HARBOR HOUSE UNIT 4110 Assessor's Parcel # _12-2226-005-NYA Tax Year_ 2006 RE. Taxes $ NYA Project Name BAL HARBOUR Phase #4 Map Reference 52-42-26 Census Tract 0038.02 Occupant {_] Owner [7] Tenant (SQ Vacant Special Assessments $ NONE HOA $ 970.14 [J per year DX] per month 1 Property Rights Appraised X) Fee Simple (J Leasehold [| Other (describe) Assignment Type qj Purchase Transaction (_] Refinance Transaction [_] Other (describe) Lende/Ciient MJOP LENDER Address_8491 NW _17 ST, MIAMI, FL 33126 {s the subject property currentiy offered for sale or has it been offered for sale in the twelve months rior to the effective date of this appraisal? Yes. [J No Report data source(s) used, offering price(s), and date(s). THE SUBJECT IS UNDER CONTRACT SINCE 09/2005 FOR $1338,900. 1d did did not analyze the contract for sale for the subject purchase transaction. Exptain the results of the analysis of the contract for sale or why the analysis was not formed. _SEE ABOVE Contract Price $ 1,338,900 Date of Contract 09/03/2005 Is the property seller the owner of public record? [XJ Yes [No Data Source(s) PUBLIC RECORDS {s there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower? LJ YES §) NO 3] It Yes, report the total datar amount and describe the items to be paid. Note: Race and the racial composition of the neighborhood are not appraisal factors. E 2 Location [_] Urban Suburban_["] Rural Property Values [X) Increasing Stable (_] Deciini PRIGE AGE | One-Uinit 85 % ey Sult-Up Dx] Over 75% (| 25-75% (7) Under 25% | Demand/Supply (5<] Shortage In Balance [] Over Supply | $ (000) (yrs) _ [2-4 unit % Fsy Growth Rapid ("J Stable (J Slow Marketing Time (_] Under 3 mths x] 3-6 mths Gver 6 mths |_775 Low _NEW | Mutli-Fé S| Fa Neighborhood Boundaries _TO THE NORTH 192 ST TO THE SOUTH 44 ST TO THE EASTATLANTIC {amity - High 40 | Commerciat 15%) FY OCEAN AND TO THE WEST BISCAYNE BAY. 4.5 Pred. 10 {Other ‘ Neighborhood Descrintion SEE ATTACHED ADDENDUM... Market Condtions (including support forthe above conclusions) GENERAL MARKET CONDITIONS ARE INCREASING WITH SUPPLY ANS DEMAND EACTORS IN SHORTAGE FOR NEW CUSTOM NEWLY CONSTRUCTED BUILDINGS, SOME OF THESE. CONTRACTS WERE DONE IN 2005 LOANS DISCOUNTS, INTEREST BUYDOWN AND CONCESSIONS BY SELLERS ARE NOT UNCOMMON, Topography TYPICAL Size RECTANGULAR Density HIGH View FULL OCEAN Specific Zoning Classification v4 -60 Zoning Description APTS HOUSING, HOTEL MINIMU SINGLE FAMILY Zoning Compliance (X] Lega! [_] Legal Nonconforming ~ Oo the zoning regulations permit rebuilding to current density? Yes [1 No No Zonin: lilegal (describe) Is the highest and best use of. subject properly as improved (or as proposed per plans and specifications) the present use? Bd Yes [1] No_ If No, describe Utilities Public Other (describe} Public Other (describe) Off-site Improvements - Type Publig Private Eecticty JL] mel Water Ro Street ASPHALT ee ps} Gas NO GAS Sanitary Sewer _[] Alley J) ea FEMA Special Flood Hazard Area &] ves No__FEMA Flood Zone_AE FEMA Map #_12025C0092J FEMA Map Date 3/2/1994 - Are the utilities and off-site improvements ‘typical for the market area? Yes No_ff No, describe Are there any adverse site conditions ar external factors (easements, encroachments, environmental conditions, land uses, elc.)? Yes No_ If Yes, describe Data source(s) for project information _ SALES OFFICE PUBLIC RECORDS. Project Description [_] Detached [_] Row or Townhouse [ } Garden Mid-Rise_( nig Mae Form 1073 March 2005 oe oe Form 1073 —~ “WInTOTAL* appraisal sofware by ala mode, inl s00-AAMODE sevnshcans Page — 7 Es \\) ool SUMMARY REPORT Individual Condominium Unit Appraisal Report Fie # 07-0609 This report form is designed to report an appraisal of a unit in a condominium project or a condominium unit in a planned unit development (PUD). This report form is not designed to report an appraisal of a manufactured home or a unit in a cooperative project. This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value, statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intended use, intended user, definition of market vatue, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to include any additional research. or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do Not constitute material alterations to this appraisal report, such as those required. by law or those related to the appraiser’s continuing education or membership in an appraisal organization, are permitted. SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisat assignment and the reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and simiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the interior and exterior areas of the subject unit, (2) inspect and analyze the condominium project, (3) inspect the neighborhood, (4) inspect each of the comparable sales from at least the street, (5) research, verify, and analyze data from reliable public and/or private sources, ard (6) report his or her analysis, opinions, and conclusions in this appraisal report. : INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of this appraisal for a mortgage finance transaction. INTENDED USER: The intended user of this appraisal report is the lender/client. MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. implicit in this definition is the consummation of a sale as of a Specified date and the passing of tille from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are weil informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. §. dollars or in terms of financial arrangements comparable thereto; and (5) the-price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with the saie. *Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area: these costs are teadily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparabie property by comparisons to financing terms offered by a third party institutional ‘ender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based an the appraiser's judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this feport is Subject to the following assumptions and limiting conditions: 1. The appraiser will not be responsible tor matters of a legal nature that affect either the property being appraised or the title to it, except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opinions about the titie. 2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements. The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood Maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in this appraisal feport whether any portion of the subject site is located in an identified Special Hood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. . 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand, or as otherwise required by law. 5. The appraiser has noted in this appraisal feport any adverse conditions (such as needed repairs, deterioration, the Presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the research involved in performing this appraisal. Unless otherwise stated in this appraisal feport, the appraiser has no knowledge af any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, this appraisal report must not be considered as an environmental assessment of the property. 6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject Property will be performed in a professional manner. Freddie Mac Form 465 March 2005 Page 4ofie 7 5) F(t op aniiieaae Roms 1073 March 2005 Form 1073 — "WinTOTAL" appraisal software by a la mode, inc. — val avo . as idl “ foe | ern “ v. oe ee . SUMMARY REPORT raisal Report File # 07-0609 Individual Condominium Unit A APPRAISER’S CERTIFICATION: The Appraiser certifies and agrees that: 1. | have, at a minimum, developed and reported this appratsal in accordance with the scope of work requirements stated in this appraisal report. 2. | performed a compiete visual inspection of the interior and exterior areas of the subject property. | reported the condition of the improvements in factual, specific terms. | identified and reported the physical deficiencies that could affect the livability, soundness, or structural integrity of the property. 3. | performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 4. | developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison approach to vatue. | have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. | further certify that | considered the cast and income approaches to value but did net develop them, unless otherwise indicated in this report. 5. | researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months Prior to the effective date of this appraisal, and the prior sales of the subject Property for a minimum of three years prior to the effective date of this appraisai, unless otherwise indicated in this report. 6. | researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report. 7. | selected and used comparable saies that are locationally, physically, and functionally the most similar to the subject property. 8. | have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home that has been built or will be built on the land. 9. | have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject Property and the comparable sales. 10. | verified, from a disinterested source, all information in this repart that was provided by parties who have a financial interest in the sale or financing of the subject property. 11. | have knowledge and experience in appraising this type of property in this market area. 12. i am aware of, and. have access io, the necessary and appropriate public and private data sources, such as multiple listing services, tax assessment records, public land records and other such data sources for the area in which the property is lacated. 13. | obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from feliable sources that | believe to be true and correct. 14. | have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. | have noted in this appraisal feport any adverse conditions (such as, but not limited to, needed fepairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property or that | became aware of during the research involved in performing this appraisal. | have considered these adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject property. . : 15. | have not knowingly withheld any significant information from this appraisal report-and, to the best of my knowledge, all statements and information in this appraisal report are true and correct. 16. | stated in this appraisal report my own Personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report. 17. [ have no present or prospective interest in the property that is the subject of this report, and | have no present or Prospective personal interest or bias with respect to the participants in the transaction. | did not base, either partially or compietely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or national origin of either the Prospective owners or occupants of the subject property or of the Present owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law. 18, My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned on any agreement or understanding, written or otherwise, that | would report (or present analysis supporting) a Predetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage lcan application). 19. £ personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. {f | relied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the preparation of this appraisal report, | have named such individual(s) and disclosed the specific tasks performed in this appraisal report. | certify that any individual so named is qualified to perform the tasks. | have not authorized anyone to make a change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and | will take no responsibility for it. 20. | identified the tender/client in this appraisal report who is the individual, organization, or agent for the organization that ordered and will receive this appraisal report. . Freddie Mac Form 465 March 2005 SUMMARY REPORT Individual Condominium Unit A Fie # 07-0609 taisal Report 21. The lender/client may disclose or distribute this appraisal report to: the borrower; another jender at the request of the borrower; the mortgagee or its successors and assigns; mortgage insurers; gavernment sponsored enterprises: other secondary market participants; data collection or teporting services; professional appraisal organizations; any department, agency, or instrumentality of the United States; and any state, the District of Columbia, or other jurisdictions; without having to obtain the appraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party (including, but not fimited to, the public through advertising, public relations, news, sales, or other media). 22. | am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain laws and regulations. Further, | am also subject to the provisions of the Uniform Standards of Professional Appraisai Practice that pertain to disclosure or distribution by me. 23. The borrower, another tender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as_part of any mortgage finance transaction that involves any one or more of these parties. 24. If this appraisal report was transmitted as an “electronic record” containing my “electronic signature,” as those terms are defined in. applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal teport were delivered containing my original hand written signature. 25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/or criminal penalties including, but not limited to, fine or imprisonment or beth under the provisions of Title 18, United States Code, Section 1001, et seq., or similar state laws. SUPERVISORY APPRAISER’S CERTIFICATION: .The Supervisory Appraiser certifies and agrees that: 1. | directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. . 2. | accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions, Statements, conclusions, and the appraiser's certification. 3. The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser (or the appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law. 4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and promuigaied by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal teport was prepared. 5. If this appraisal report was transmitted as an “electronic record” containing my “electronic signature,” as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. SE Signature y Signature Name GUILLERMO ESCOBAR RE G/TRN. # RI3323 Name SUYIN OECASTRO RD.#5179 Company Name ACCESS APPRAISALS GROUP SERVICES, INC Company Name ACCESS APPRAISALS GROUP SERVICES INC. Company Address 7334 SW 42 ST, MIAMI, FL 33155 Company Address 7334 SW 42ND STREET, MIAMI, FL 33155 APPRAISER Telephone Number 305 265-5050 Telephone Number 305 265-5050 Email Address WILLYACCESSAPP@AOL.COM Email Address SUYINACCESSAPP@AOL.COM Date of Signature and Report June-13, 2007 Date of Signature June 13, 2007 Effective Date of Appraisal 06/14/2007 : State Certification # ST.CERT.RES.REA. State Certification # or State License # RD 5179 or State License # RI 3323 State FL orOther _- State # Expiration Date of Certification or License 11/30/2008 State FLORIDA Expiration Date of Certification or License 11/30/2008 SUBJECT PROPERTY & Did not inspect subject property ADORESS OF PROPERTY APPRAISED ° Did inspect exterior of subject property from street, 10275 Collins Ave, # 1110 Date of Inspection MIAMI BEACH, FL 33154-1474 CO Did inspect interior and exterior of subject property APPRAISED VALUE OF SUBJECT PROPERTY $ 1,400,000 ~ Date of Inspection LENDER/CLIENT Name STEPHANIE CELADA COMPARABLE SALES . Company Name MJOP LENDER & Did not inspéét exterior Gf comparable sales from street Company Address 8491 NW 17 ST, MIAMI, FL 33126 () Did inspect exterior of comparable sales from street Date of Inspection Email Address APPRAISALS@MJOP.COM Freddie Mac Form 465 March 2005 Form 1073 — "WinTOTAL" appraisal software by ala mode ing — 1-80 PAIS ete ndecca Fi 2-4 a os . . SUMMARY REPORT Individual Condominium Unit Appraisal Report —_iew 07-0609 FEATURE SUBJECT COMPARABLE SALE #4 COMPARABLE SALE #5 COMPARABLE SALE #6 Address and 10275 Collins Ave 10275 COLLINS AVE, #408 [10275 COLLINS AVE, #410 | 10275 COLLINS AVE, # 1010 Unit # MIAMI BEACH MIAMI BEACH, FL 33154-1423 _| MIAMI BEACH, Fi. 33154-1423 _ | MIAMI BEACH, FL 33154-1423 Project Name and BAL HARBOUR HARBOUR HOUSE HARBOUR HOUSE BAL HARBOUR Phase 1 1 1 Proximity to Subject de ‘Less than .01 mile NW Less than .01 mile NW Sale Price 1,338,900) $ 850,000) Sale Price/Gross Liv, Area 894.99sq.ft]$ 951.8559. ft soa\$ “768.05 ‘ ths genes Data Source(s : SALES OFF/HUD 4 SALES OFF SALES OFF Verification Source(s) 25 25 OBSERVATION INSPECTION INSPECTION VALUE ADJUSTMENTS DESCRIPTION | __DESCRIPTION | +(-) $ Adjustment |” “DESCRIPTION” [+() $ Adjustment | DESCRIPTION | + (4 $ Adjustment Sales or Financing ‘ =| CONV FIN UNDER UNDER Concessions CONT DTE 05, CONTRACT CONTRACT Date of Sale/Time Gael 01/07 09/2005 09/03/2005 Bi Location {suBuReaN SUBURBAN SUBURBAN SUBURBAN FS] LeaschokdFee Simple FEE SIMPLE [FEE SIMPLE FEE SIMPLE FEE SIMPLE fe] HOA Mo. Assessment 970.14 606.34 970.14 970.14 Fey Corimon Elements SEE SEE SEE SEE fej and Rex, Facies ADDENDA [ADDENDA i- ADDENDA ADDENDA fe} Floor Location lat FLOOR [4TH FLOOR 4TH FLOOR 10TH FLOOR Fe View FULL OCEAN _{ciTy VIEW FULL OCEAN |” FULL OCEAN Fig Design (Style) CONDO CONDO. : CONDO CONDO 5 Fe} Quality of Construction CASISUPER CBS/SUPER CBS/SUPER CBS/SUPER g Actual Age _ NEW : NEW. NEW. 7 ——t Gi Condition T3000 GOOD) : GOOD GOOD FY Above Grade Piss asa Baths Lea fas Loa Baths Totai [Bdrms.| Baths Tota [Barr Room Count 4 2.5 1 +2,500|_4 25 4 Gross Living Area __ 1,496 sq. ft] 893 sq. a +45,225) 4,496 sq. ft i) 1,496 0. fl Basement & Finished NIA NIA NIA NIA Rooms Below Grade NIA NA N/A NIA Functional Utiity STANDARD _|1-BEDROOM STANDARD STANDARD Heating/Cooling _ CENTRAL AC [CENTRAL AC : CENTRAL A/G CENTRAL AC Energy Etficient ers STANDARD —_|STANDARD STANDARD STANDARD. Garage/Carport 4-UNDRGRND | 1-UNDRGRND. 1-UNDRGRND 1-UNDRGRND Porch/Patio/Deck BALCONY BALCONY BALCONY, BALCONY a a es easier aay TE BO as ae Adjusted Sale Price ° Net Ad. 5.6% Net Adj. % Net Adj. Gross Adj. 5.6 _%]$ 897,725|Gross Adj. baky 4,149,000} Gross Adj. $ 1,329,900 Wil Report the fesults of the research and aaysis Of the prior sale of transfer history of the subject property and comparable sales (report additional prior sales on page 3). TEM, SUBJECT COMPARABLE SALE #4 COMPARABLE SALE #5 COMPARABLE SALE #6 Date of Prior Sale/Transter NO SALES IN NO SALES IN NO SALES IN NO SALES IN, Fe Price of Prior Sale/Transfer [PAST 3 YEARS. PAST 3 YEARS. PAST 3 YEARS. PAST 3 YEARS fo} Dala Source(s) PUBLIC RECORDS PUBLIC RECORDS PUBLIC RECORDS PUBLIC RECORDS a Effective Date Data Scurce(s) “eas 06/2007 06/2007 06/2007 Of prior sale or transfer history of the subject property and comparable sales THE APPRAISER RESEARCHED 1 YEAR PAST HISTORY_ON THE UTILIZED COMPARABLES. THE RESULTS ARE LISTED ABOVE. E Analysis/Comments COMPARABLE #4 IS A 1/1.5 MODEL THE ONLY CLOSED SALE AS THE PRESENT TIME WITHIN THE SUBJECTS SUBDIVISION. SALES #5 AND 6 ARE 10 LINES CORNER FULL OCEAN PENDING CLOSING DATE THAT SUPPORTS THE SUBJECT VALUE. ANALYSIS/COMMENTS Freddie Mac Farm 465 March 2005 a ee ie No, 07-06081 Pace #71) General Text Addendum File No. 07-0609 Borrower/Clent_RICARD A SOUKI/SAMIR EL SOUKI —| Property Address 10275 Collins Ave Cit MIAMI BEACH County MIAMI DADE State_ FL Zp Code_33154-1414 } Lender MJOP LENDER | + Condo : Neighborhood - Description THE SUBJECT IS LOCATED IN A SUPERIOR AREA CALLED BAL HARBOUR. THIS ARE HAS SUPERIOR SHOPPING, HOTELS, NIGHTLIFE, BEACHES, RESORT STYLE COMMUNITY. THE AREA IS OSTRACIZED BY WATER BOUNDARIES. AND DEPARTURE OF THE AREA !S EMINENT DUE TO THESE BOUNDARIES. EVERY EFFORT IS WARRANTED TO FIND SIMILAR HIGH END BUILDINGS WITH SIMILAR AMENITIES THAT SUPORT AREA MARKET VALUE. POPULARITY OF THE AREA SUPERIOR, ae ses el Form TADD — "WinTOTAL* appraisal software by ala mode, inc. — 1-800-ALAMODE SUBJECT PHOTOS Borrower/Client_ RICARD A SQUKI/SAMIR EL SOUKI Property Address 10275 Collins Ave MIAMI BEACH County_ MIAMI DADE State_FL Zp Code_33154-1414 MJOP LENDER SUBJECT FRONT 10275 Collins Ave SALES PRICE 1,338,900 GLA. 1,496 TOT.ROOMS 4 TOT. BEDRMS.2 TOT. BATHRM:2.5 LOCATION SUBURBAN VIEW FULL OCEAN sive TYPICAL QUALITY . CBS/SUPER AGE NEW SUBJECT REAR SUBJECT STREET AUIMEENES PE EXHIBIT 2 PAGE _/3 SUBJECT PHOTOS INTERIOR | Borrower/Glent_RICARD A SOUKISAMIR EL SOUKI {Property Address 10275 Collins Ave ch MIAMI BEACH, MJOP LENDER County MIAMI DADE Zip Code_ 33154-1414 SUBJECT INTERIOR 10275 Collins Ave SALES PRICE 1,338,900 GLA, 1,496 TOT.ROOMS 4 TOT, BEDRMS.2 TOT, BATHRM:2.5 LOCATION SUBURBAN VIEW FULL OCEAN SITE TYPICAL QUALITY CBS/SUPER AGE NEW SUBJECT INTERIOR SUBJECT INTERIOR ET tke, Nese SUBJECT PHOTOS INTERIOR Borrower/Cient_ RICARD A SOUKISAMIR EL SOUKI | Property Address_ 10275 Collins Ave City MIAMI BEACH County MIAMI DADE State_FL Dp Code_33154-1414 Lender MJOP LENDER _ | SUBJECT INTERIOR 10275 Collins Ave SALES PRICE 1,338,900 GLA. 1,496 TOT. ROOMS 4 TOT. BEDRMS.2 TOT. BATHRM:2.5 LOCATION SUBURBAN VIEW FULL OCEAN SITE TYPICAL QUALITY | CBS/SUPER AGE NEW & Re gE SUBJECT INTERIOR SUBJECT INTERIOR exHiait #_/f PAGE /> oF Form PIC4x6.S! — "WinTOTAL" appraisal software by a la mode, inc, ~ 1-800-ALAMODE ni Te tice PHOTOGRAPH ADDENDUM Borrower/Clent__RICARD A SOUKI/SAMIR EL SOUKI Properly Address 10275 Collins Ave MIAMI BEACH County MIAMI DADE State FL Tp Code_ 33154-1414 MJOP LENDER Form GPI¢4X6 —~ "WinTOTAL* appraisal software by a fa moce, inc, —~ 1-800-ALAMODE we \ a Exhibit COMPARABLE PHOTOS 1-3 Borrower/Client_RICARD A SOUKISAMIR EL SOUKI Proper Address_10275 Collins Ave MIAMI BEACH County MIAMI DADE. State FL Dp Code_33154-1414 tae MJOP LENDER COMPARABLE 1 4401 COLLINS AVE 3601 PROX. 10 SUB5.62 miles S SALES PRICE 1,440,000 GLA, 1,496 TOT. ROOMS 4 TOT. BEDRMS.2 TOT. BATHRM:2.5 LOCATION SUBURBAN vIEW FULL OCEAN Site TYPICAL QUALITY —CBS/SUPER AGE 2YRS COMPARABLE 2 9601 COLLINS AVE 1003 PROX. T0 SUBO.73 miles S SALES PRICE 1,630,000 GLA. 2,160 TOT. ROOMS 4 TOT. BEDRMS.2 TOT. BATHRM:2.5 LOCATON SUBURBAN VIEW FULL OCEAN SiTe TYPICAL QUALITY CBS/SUPER AGE 9 YRS COMPARABLE 3 18051 COLLINS AVE 2502 PROX. T0 SUB0.01 miles NW: SALES PRICE 1,535,000 6.LA 2,245 TOT. ROOMS 4 TOT. BEDRMS.2 TOT. BATHAM:2.5 LOCATION SUBURBAN VIEW FULL OCEAN SITE TYPICAL QUALITY — CBS/SUPER AGE 4YR AUMINISTRATIVE CO EXHIBIT 4 e_I2_« Form PIC4x6.CR — "WinTOTAL* appraisal sottware by a (a mode, inc. — 1-800-ALAMODE is \ {EieNo. 07-0608] Pane #17] COMPARABLE PHOTOS 4-6 Borrower/Client__RICARD A SOUKISAMIR EL SOUKI | iress_10275 Collins Ave {city MIAMI BEACH County MIAMI DADE State FL Zip Code 33154-1414 Lender. MJOP LENDER COMPARABLE 4 10275 COLLINS AVE, # 408 PROX. TO SUBLess than .01 mile h SALES PRICE 850,000 GLA. 893 TOT. ROOMS 4 TOT. BEDRMS.1 TOT. BATHRM:1.5 LOCATION SUBURBAN VIEW - CITY VIEW SITE TYPICAL QUALITY CBS/SUPER AGE NEW aq © ¢ COMPARABLE 5 10275 COLLINS AVE, #410 PROX. TO SUBLess:than .01 mile N SALES PRICE 1,149,000 GLA. 1,496 TOT. ROOMS 4 TOT. BEDRMS.2 TOT. BATHRM:2.5 LOCATION SUBURBAN VIEW FULL OCEAN SIE TYPICAL QUALITY CBS/SUPER AGE NEW COMPARABLE 6 10275 COLLINS AVE, # 1010 PROX. TO SUBLess than .01 mile N SALES PRICE 1,329,900 GLAS 1,496 TOT. ROOMS 4 TOT. BEDRMS.2 TOT. BATHRM:2.5 LOCATION SUBURBAN VIEW FULL OCEAN SITE QUALITY CBS/SUPER AGE NEW WOMINEST. RATIVE COM Form PIC4x6.CR — “WinTOTAL* appraisal software by ala mode, inc, — 1-800-ALAMODE Exhibt "Soa tge Petco Location Map Borrower/Client_ RICARD A SOUKI/SAMIR EL SOUKI Property Address. 10275 Collins Ave Ci MIAMI BEACH. Lender MJOP LENDER County MIAMI DADE State FL. Zip Code_ 33154-1414 japhoint ALM INISTRATIVE PUR De. Fm 0 — Pay, — TALE ‘ pee hoe _ 4 , a al Pore naman coer Piercing Flood Map Borrower/Client__RICARD A SOUKISAMIR EL SOUKI Property Address_40275 Collins Ave Ci i MIAMI BEACH County MIAMI! DADE State FL Jp. Code 33154-1414 | : Lender MJOP LENDER Prepared for: 7 : . InterFlood sie Access Appraisals yp by & le rhode, 10276 COLLINS AVE wrew.interflood.com » 1-800-252-6633 MIAMI BEACH, Fl 33154-1423 ALRVEEES Exhio' +E Hoey Operating Income Statement 97-0609 One- to Four-Family Investment Property and Two- to Four-Family Owner-Occupied Property ~~ rrr eR Property Address 40275 Collins Ave 1110 : MIAMI BEACH FL 33154-1414 Street City State Zip Code General instructions: This form is to be prepared jointly by the loan applicant, the appraiser, and the lender's underwriter. The applicant must complete the following schedule indicating each unit's rental status, lease expiration date, current rent, market rent, and the responsibility for utility expenses. Rental figures must be based on the rent for an “unfumished" unit. Currently Expiration Current Rent Market Rent Paid Paid Rented Date’ Per Month Per Month Utility Expense By Owner By Tenant Unit No. 1 Yes, No XL NYA. $ o $ 5,000 DI UnitNo.2 Yes] No [| s_ =e oO Unit No. 3 Yes. No $ 3 a Unit No. 4 Yes. No [| $ $ Fuel (Other) _ li Total $ §,000. Water/Sewer XI Trash Removal & The anniicant should complete ali of the income and expense projections and for existing properties provide actual year-end operating statements for the past two years (for new properties the applicant's projected income and expenses must be provided). This Operating Income Statement and any previous operating statements the applicant provides must then be sent to the appraiser for review, comment, and/or adjustments next to the- applicant's figures (e.g. Applicant/Appraiser 288/300). tt the appraiser is retained to complete the form instead of the appiicant, the lender must provide ta the appraiser the aforementioned operating statements, mortgage insurance premium, HOA dues, leasehold payments, subordinate financing, and/or any other relevant information as to the income and expenses of the subject property received from the applicant to substantiate the projections. The underwriter should carefully review the applicant's/appraiser’s projections and the appraiser's comments conceming those projections. The underwriter should make any final adjustments that are necessary to more accurately reflect any income or expense items that appear unreasonable for the market. (Rea/ estate taxes and insurance on these types of properties are included in PIT! and not calculated as an annual expense itern} income should be based on the current rents, but should not exceed market rents. When there are no’current rents because the property is Proposed, new, or currently vacant, market rents should be used. Annual Income and Expense Projection for Next 12 months Adjustments by Income (De not include income for owner-occupied units) . By Applicant/Appraiser Lender's Underwriter Gross Annual Rental (from unit(s) to be rented) | nt) 60,000 $. Other Income (include sources) ___ + + Total " $ 60,000 $ Yi Effective Gross Income Expanses (Da not inciude expanses for owner-accupied units) Electricity Water/Sewer _ Trash Removal Pest Contra! _ Other Taxes or Licenses Casual Labor This includes the costs for public area cleaning, snow removal, et though the applicant may not elect to contract for such services. Interior Paint/Decorating - This includes the costs of contract labor and materials that are required to maintain the interiors of the living unit. General Repairs/Maintenance ___ This includes the costs of contract labor and materials that are required t maintain the public corridors, stairways, roofs, mechanical systems, grounds, etc. . Management Expenses 20 1,000 These are the custamer expenses that a professionat management company wouid charge to manage the property. Suppties a 250 This includes the costs of items like light butbs, janitorial supplies, etc. Total Replacement Reserves - See Schedule on Pg. 2 Miscellaneous 428 Total Operating Expenses Freddie Mac This Form Must Be Reproduced By Seller Ate Fannie Mae Form 998 Aug 88 Page.1 of 2 ALY IST Ray ADIYE CONRELIOA RE ratal Access Appraisals Group . Form INC2 — "WinTCTAL" appraisal software by ala mode, inc Eee O7-t60al Page Fl Replacement Reserve Schedule Adequate replacement reserves must be caiculated regardless of whether actual reserves are provided for on the owner's operating statements or are customary in the locai market. This represents the total average yearly reserves. Generally, all equipment and components that have . @ remaining life of more than one year - such as refrigerators, stoves, clothes washers/dryers, trash compactors, fumaces, roofs, and carpeting, etc, - should be expensed an a replacement cost basis. Equipment Replacement Remaining By Appiicant/ Lender Cost Life Appraiser Adjustments Stoves/Ranges @ ¢ 4,200 ea. + 18 Yrs. x 4 Units = $__ 80 $ Retrigerators @ &___3,500_ ea. + 45 Yrs. x 4 Units = $ 233 $ — Dishwashers @ 750__ea. + 15 Yrs. x 4 Units 50 $ AVC Units @ $ ea. + Yrs. x Units=$ C. Washer/Dryers _ @ 680_ea. + __15 Yrs. x 1 Units =$ AG HW Heaters @ & ea. + Yrs. x Units = $ ; Fumace(s) @ $ ea. + Yrs. X Units = $ $ @ $a. + Yrs. x Units $ Roof ~@G es Yrs. x One Bldg. = $e Carpeting (Wall to Wall) Remaining Life . (Units) 20 TotalSq. Yds. @ $ 10. Per Sq. Yd. + 40_ Yrs. = $ 20 | (Public Areas) ___s Total Sq. Yds. @ $ Per Sq. Yd. + Yrs. = SG Total Replacement Reserves. (Enter on Pg. 1) $ 428 $ Operating Income Reconciliation 60,000, - $ 1,678 = ¢ 58,322 +12= §$ 4,860 Bane 4860 _ Effective Gross Income Total Gperating Expenses Operating Income Monthly Operating Income 4,860 ~ §$ = Monthly Operating Income Monthly Housing Expense * Net Cash Flow (Note: Manthly Housing Expense includes principal and interest on the mortgage, hazard insurance premiums, real estate taxes, Mortgage insurance premiums, HOA dues, leasehold payments, and subordinate financing payments.) Underwriter's instructions for 2-4 Family Owner-Occupied Properties + lf Monthly Operating Income is a pasitiv Freddie ac Form 65/Fannie Mae Form liability tor qualification purposes. er, enter as "Net Rental Income" in the "Gross Monthly income" section of . If Monthly Operating Income is a negative number, it must be included as a * The borrower’s monthly housing expense-to-income ratio must be calculated by comparing the total Monthly Housing Expense for the subject property to the borrower's stable monthly income. Underwriter's instructions for 1-4 Family Investment Properties + If Net Cash Flow is a positive number, enter as “Net Rental income" in the “Gross Monthly Income" section of Freddie Mac Form 65/Fannie Mae Form 1003. If Net Cash Flow is a negative number, it must be included as a liability for quatification purposes. + The borrower's monthly housing expense-to-incame ratio. must be calculated by comparing the total monthly housing expense for the borrower's primary residence to the borrower's stable monthly income. Appraisers Comments (Incfuding sources for data and rationale for the projections) GUILLERMO ESCOBAR REG. TRN. # RI3323 June 13, 2007 Appraiser Name Appraiser Signature Date Underwriter's Comments and Rationale for Adjustments Underwriter Name Underwriter Signature Date Freddie Mac MONTS ERATIVE COtahiicivdel MT sth Form 998 Aug 88 Page 2 of 2 EXHIBIT Form 216 Aug 88 ES | ry hae _ eee er ean eR SINGLE FAMILY COMPARABLE RENT SCHEDULE This form is intended to provide the appraiser with a familiar format to estimate the market difference between the comparables and the subject property. : rent of the subject property. Adjustments should be made only for items of significant ITEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3 Address, 10275 Collins Ave 9601 COLLINS AVE 1003 18101 COLLINS AVE 704 [feos COLLINS AVE 3503 MIAMI BEACH ~ MIAMI BEACH MIAMI BEACH MIAMI BEACH Proximity to Subject Date Lease Begins NYA 01/2007 01/2007 01/2007 Date Lease Expires | NYA 01/2008 01/2008 01/2008 Monthy Rental lf Currently . a . Rented: $ $ 8,000 $ _4,500 $ 4,900 $ ols 0 ig 0 $ 0 a Adjusted —- Monthly Rent $ $ 5,000 Is 4,500 _|s 4,900 Data Source MLX,PUBLIC MLX,PUBLIC MLX,PUBLIC MLX,PUBLIC INSPECTION OBSERVATION | OBSERVATION OBSERVATION RENT ADJUSTMENTS DESCRIPTION DESCRIPTION | +(-)$ Adiust, DESCRIPTION +(=)$ Adjust, DESCRIPTION +(-)$ Adjust, Rent ONE : NONE ‘ NONE ‘ Concessions =| NONE ‘ NONE — {NONE jose : SUBURBAN SUBURBAN ! SUBURBAN FULL OCEAN FULL OCEAN i FULLOCEAN | CONDO CONDO CONDO : CONDO : SUPERIOR SUPERIOR SUPERIOR “| SUPERIOR : NEW NEW NEW " : NEW : GOOD GOOD GOOD : {GoopD i Total 'Bdrms‘ Baths | Total !Bdrms! Baths _: Total ‘Bdrms'_ Baths ' Total :Bdrms! Baths 4 i2:25 1 432 a5: 4i'213 25! 4i 2; 25 | 1,496 Sq. Ft. 1,496 Sq. Ft 1,600 Sq. Fi. ! 1,610 Sa. Ft! NIA NIA : NIA ‘ NIA : N/A N/A = NIA i i Net Adi. (total) Indicated Monthly Market Rent Comments on market vacancy, and support for the above adj data, including the range of rents for single fa nd of rents an Final Reconciliation of Market Rent: IMMEDIATE MARKET AREA. NAME _GUILLERMO ES THE MARKET RENTAL WAS DERIV OBTAINED BY STATISTICS PROVIDED BY RENTALS, ACTIVE AND PREVIOUS RENTAL AND LEASING OF 06/14/2007 ED FOR MULTIPLE REALTORS SERVICES. ALL DATA IS INFORMATION WITHIN THE Review Appraiser SIGNATUI (If applicable) COBAR REG. TRN. # RI3323 Access Appraisals Gro Ww Form RNT — "WinTOTAL« appraisal software by ala Pi mode EY NAME __SUYIN DECASTRO RD.#5179 | Fannie Mae Form 1007 (8/88) STON EOS TN FROM: INVOICE ACCESS APPRAISALS GROUP SERVICES, INC, 7334 SW 42 STREET MIAMI, FL 33155 Telephone Number: 305-265-5050 Fax Number: 305-266-6060 TO: lateral Order #: 07-0609 STEPHANIE CELADA Lender Case 4: oa ww 7S cee 8491 NW in File # S MIAMI, FL 33126 Main File # ontorm: 97-9609 Other File # on form: SUMMARY REPORT Federal Tax (0: 20-3286907 Employer iD: Telephone Number: (305) 408-3333 Fax Number: (305) 406-3344 Alternate Number: E-Mait! APPRAISALS@MJOP.COM Lender: MJOP LENDER Client: MJOP LENDER Purchaser/Borrower: RICARD A SOUKVSAMIR‘EL. SOUKI Property Address: 10275 COLLINS AVE City: BAL HARBOUR . County: MIAMI DADE State: FL Zip: 33154-1414 UNIT 1110 AKA THE NEW HARBOR HOUSE UNIT 1110 APPRAISAL FEE 1007 RENT SCHEDULE H 125.00 216 OPERATING INCOME ESTATEMENT. H 125.00 CLIENT DISCOUNT H FINAL INSPECTION 06/26/2007 SUBTOTAL 1,125.00. SUBTOTAL ADNMIN Form NIVS — "WinTOTAL* appraisal sofware b Borower/Cient_RICARD A SOUKVSAMIR EL SOUKI Flie No, 07-0609 Property Address 10275 COLLINS AVE BAL HARBOUR County MAMI DADE State_ FL Zp Code_ 33154-1414 MJOP LENDER TABLE OF CONTENTS Additional Comparabies 4-6 . Additional Comparables 7-9 .. Operating income Statement .. Single Family Comparabie Rent Schedule . Appraisal Update/Completion Report Subject Photos Interior ... ADMINISTRATIVE COMPLAINT EXHIBIT #2 PAGE oor BUILDING SKETCH | Borrower/Client_ RICARD A SQUKWV/SAMIR EL SOUKI Property Address 10275 COLLINS AVE BAL HARBOUR County MIAMI DADE State Ft Zp Code_33154-1414 Lender MJOP LENDER BEDROOM BEDROOM WOOY Lvay9 DINING ROOM 1/2 BATH KITCHEN eytry BATH BATH BA Floor Plan # 1210 ‘BALCONY P/P Net LIVABLE Area (Rounded) (Rounded) Form SKT.BidSki — *WinTOTAL* appraisal software by a la mode, inc. — 1-800-ALAMODE Page. Oy Exhibit, BUILDING SKETCH BorrowerClient_RICARD A SOUKI/SAMIR EL SOUKI Property Address 10275 COLLINS AVE City, BAL HARBOUR County MIAMI DADE State FL. Lender MJOP LENDER Zip Code 33154-1414 Cc vay Form SKT.BldSkl — *WinTOTAL" appraisal software by a ta mode, inc. — 1-800-ALAMODE He age LL Exhibit Access Appraisals Group Bie No. 07-06097 Pane #4) a we . . SUMMARY REPORT Individual Condominium Unit Appraisal Report File # 07-0609 The Of this summary appraisal report is to provide the lender/clent with an accurate, and lately supported, opinion of the market value of the subject prot Property Address _10275 COLLINS AVE Unit #1140 __ City BAL HARBOUR State FL Zip Code_33154-1414 Borrower RICARD A SOUKI/SAMIR EL SOUKI Owner of Public Record TRG-HARBOUR HOUSE,LTD County MIAMI DADE Legal Description BAL HARBOUR OCEAN FRONT ADDN PB §7-68 UNIT 1110 AKA THE NEW HARBOR HOUSE UNIT 1110 Assessor's Parcel #_12-2226-005-NYA Tax Year_2006 . RE. Taxes $ NYA. _ Project Name__BAL HARBOUR Phase # 1 Map Reference 52-42-26 Census Tract 0038.02 {7} Owner 7) Tenant [<] Manauement Agent - Provide name of management company. CONTINENTAL GROUP954-925-8200 - Does.any single entity (the same individual, Investor group, corporation, efc.) own more-than 10% of the total units in the project? Yes [X].No__ If Yes, Describe rq Was the project created by the conversion of existing bullding(s) into a condominium? —_ [] Yes No_ff Yes, describe the origina! use and date of conversion. 2005 Are the units, common elements, and recreation faclities complete (including any planned rehabilitation for a condominium conversion}? _ PX] Yes No_ tf No, describe {s there any commercial space in the project? Dd Yes_[} No_ if Yes, describe and indicate the overalt pe ¢ of the commercial space. 4 FOOD MARKET. Freddie Mac Form 465 March 2005 Page ALBIVENISTRATIVE CO Rati Me Fer 1073 March 2005 ' CW ibe eas Ie 7 Form 1073 —“WinTOTAL* appraisal software’ by @lande, nc2 7000-ALAMODE U g fit appraisal s rena = RRB Pa reece Pe os we . . SUMMARY REPORT Individual Condominium Unit Appraisal Report File # 07-0609 fe quality of construction. COMPLETELY RENOVATED FROMA TRANSITION OF APARTMENTS TO. CONDOMINIUMS. THIS A SUPERIOR BUILDING WHERE THEY KEPT PART OF THE EXISTING SHELL AND RECONSTRUCTED A NEW. SUPERIOR HIGHRISE PRODUCT. ON fe} Describe the coramon elements and recreational facies. 24 HR SEC. VALET POOL, BEACH ACCESS, COMMON AREAS, CONCIERGE SPA GYM Fj CLUBHOUSE, THEATER, _ IS : ied Fd Are any common elements leased to or by the Homeowners’ Association? _[-] Yes _L<] No if Yes, describe the rental terms and options. 2 5 > a 3 Is the project subject to aground rent? J Yes [x] No Yes, $ per year (describe terms and conditions) & Are the parking facilities adequate for the project size and type? & ves Na_If No, describe and comment on the effect on value and marketability. iL) did Rat not analyze the condominium project budget for the current year. Explain the resuils of the analysis of the budget (adequacy of fees, reserves, elc.), or why the analysis was not performed. THE CONDO DOCS WERE NOT AVAILABLE FOR THE APPRAISER'S REVIEW. Are there any other fees (other than regular HOA charges) for the use of the 2 project facilities? __[) Yes [X) No___If Yes, report the charges and describe. uf Compared to other competitive projects of similar quaity and design, the subject unit charge appears [J High [J Average {J Low_ It High or Low, describe Ae ere ay special or usual characieses of he project based onthe condominium dace, HOA meaigs foe Rformallon) Known tote appraise? [ves BX) No ltYes, describe and explain the effect on value and marketability. ‘OJECT ANALYSIS Unit Charge $970.14 permonthXi2=$ 11,641.68 per year Annwal assessment charge per year per square feet of gross living area = $ 7.78 Utes included in the unit monthty assessment [7] None_[-] Heat Dx) Air Conditioning [J Bectricty [1 Gas [<) Water [2 Sewer [| Cable [_] Other (describe) Floor# 14 Fioors MRBLE/CARPET Fi (s) # EX) Retrige # oflevels 1 Wialis DRYWALL WoodStove(s) # Range/Oven DX) Garage [7] Covered [] Open Heating Type REV Fuel ELE |TrimvFinsh WOOD I_] Deck/Patio (1 Disp xX) Microwave | # of Cars 1 x) Central AC [77 individual AC [Bath Wainscot, TILE PorctvBalcony IRQ Dishwasher [7] Assigned 5x] Owned (_] Other (describe) Doors wooo. Other [Bd WasherDryer Parking Space # Finished area above grade contains: 4 Rooms 2_Bedrooms 2.5 Bath(s) 41,496 __ Square Feet of Gross Living Area Above Grade Are the heating and cooling for the individual units separately metered? _&X) Yes No_ff No, describe and comment on compatibility to other projects in the market area. ION A Additionat features (special energy efficient items, etc.) ALL APPLIANCES ARE CUSTOM SUPERIOR AND IN NEW CONDITION. S Fa Describe the condition of the property (including needed fepairs, deterioration, renovations, remodeling elc.). NEW. THIS 'S THE MOST SUPERIOR 10 LINE fs CORNER FULL OCEAN. UNI Are there any physical deficiencies or adverse conditions that affect the livability, soundness, ge gph integrity of the property? (_} Yes [XJ No_if Yes, describe Does the property generally conform to the neighborhood (tunctional Uilty, style, condition, use, construction, etc)? __<] Yes [-] No_If No, describe NO PRIOR SALES WITHIN THE BUILDING Wie | 50 cid [J cic not research the sale or transfer history of the subject property and Comparable sales. If not, explain My research (_ oid [XJ id at reveal any prior sales of transfers ofthe subject property forthe three years prior to the effective dae of this appraisal Data source(s)_ PUBLIC RECORDS, SALES. OFFICE [My research _D< did (_] did not reveal any prior sales or transfers of the comparable sales for the Year prior to the date of sale of the-comparable sale. z Data source(s) PUBLIC RECORDS/SALES OFFICE fg Report the resutts of the research and an: ls of the prior sale or transfer history of the subject property and cor le sales (report additional prior sales on page 3). = TEM SUBJECT COMPARABLE SALE #1 COMPARABLE SALE #2 COMPARABLE SALE #3 fey Date of Prior Saie/Transfer NO SALES IN NO SALES IN 01/2007 NO SALES IN F Price of Prior Sale/Transter PAST 3 YEARS 1,000,000 PAST 3 YEARS fai PUBLIC RECORDS PUBLIC RECORDS PUBLIC RECORDS & 06/2007 06/2007 06/2007 [os/2007 Sis of prior sale or transfer history of the subject property and comparable sales. RECENT CONDO CONVERSION NO PRIOR SALES. Freddie Mac Form 465 March 2005 Page 2 of 6 SUMMARY REPORT Individual Condominium Unit Appraisal Report —__ rie 07-0609 Theeae 5 able properties offered for sale in the subject neighborhood ranging in price from-$_ 1,200,000 to$ 1,600,000 There are___6 _comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ 1,400,000. to$ 1,630,000 FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE #3 Address and 10275 COLLINS AVE, # 1140 [4401 COLLINS AVE 3501 9601 COLLINS AVE 1003 16051 COLLINS AVE 2502 Unt # __ BAL HARBOUR, FL 33154-141| MIAMI BEACH, FL 33140 MIAMI BEACH, FL 33154-1423 |MIAMI BEACH, FL 33154-1423 Project Name and BAL HARBOUR FONTAINBLEU Il CONDO MAJESTIC TOWER AT BAL Ton TURNBERRY OCEAN COLONY Phase. 4 1 1 4 Proxirnity to Subj 5.62 miles S 0.73 miles S 1.84 miles N Sate Price $4,338,900 § 1,440,000 $1,630,000 $1,535,000 Sale Price/Gross Liv. Area |$ 894.9989. f1.$ 962.5759. ft, $ 754.6359. ft EOS 683.7450. tee Data Source(s) PUBLIC RECDS PUBLIC RECDS PUBLIC RECDS Verification Source: OBSERVATION OBSERVATION OBSERVATION VALUE ADJUSTMENTS DESCRIPTION [DESCRIPTION [ +() $ Adjustment | DESCRIPTION | +(-) S$ Adjustment | DESCRIPTION | +() $ Adj Sales or Financing CONV. FINANC} CONV. FINANC! CONV FIN Concessions NONE NOTED. NONE NOTED NONE NOTED Date of Sale/Time 41/2006 03/2007 41/2006 Location SUBURBAN [SUBURBAN [SUBURBAN SUBURBAN Leasehold/Fee Simple. FEE SIMPLE FEE SIMPLE FEE SIMPLE FEE SIMPLE HOA Mo. Assessment [970.14 4322.00 1600.00 Common Elements SEE SEE SEE and Rec. Faclities [ADDENDA __|ADDENDA. ADDENDA Floor Location 14TH FLOOR [35TH FLOOR 25TH FLOOR ~14,000 View : FULL OCEAN [FULL OCEAN FULL OCEAN Fd Des e) CONDO. CONDO CONDO & of Construction CBS/SUPER _[CBS/SUPER CBS/SUPER CBS/SUPER ; PY Actual Age: INEW 12 YRS 9YRS 1YR Fa Condon GOOD. GOOD C GOOD GOOD ‘Above Grade Total [pars.| Baths { Total [Barms.| Baths Totat [perms,| Baths Total fearms | Batis Room Count 4] 2f2s{ 4] 2 Jas 4|2 [25 4] 2 [25 Gross Living Area 1,496 59. ft 1,496 sq. tt of 2,160 sa. ft ~49,800| 2,245 sq, ft -56,175 fe} Basement & Finished NIA NIA NIA NIA Rooms Below Grade N/A NIA t NIA lw Fd Functional STANDARD _|STANDARD. STANDARD. STANDARD. Heating/Cooling CENTRAL A/C_|CENTRAL A/C CENTRAL AC CENTRAL A/C . Energy Efficient ftems STANDARD __|STANDARD STANDARD STANDARD Garage/Carport 4-UNDRGRND |4-UNDRGRND 2-UNDRGRND. -25,000| 1-UNDRGRND tiDecic BALCONY BALCONY IBALCONY BALCONY 4 a a Net Adjustment (Total + -_|$ -26,000) + - |$ -74,800) + - i$ -70,175 Adjusted Sate Price Net Ad. 1.8 % NetAd. 4.8 % Net Ad. 4.6 % of Comparables Gross Adj. 1.8 %|$ 1,414,000/Gross Ad, 4.6 %|$ 1,555,200|Gross Adj. 46 %/$ 1,464,825 [Summary ot Sales Comparison Approach THE SUBJECT HAS 1 CLOSED SALE OF A 1 BEDROOM UNIT THIS IS THE 1ST 2/2.5 CORNER FULL OCEAN THAT IT'S SCHEDULE TO CLOSE THIS MONTH. EVERY SALE UTILIZED ARE SIMILAR 2/2.5 BATHS UNITS WITH THE DIFFERENCE IN LIVING AREA SQFT ON SIMILAR SUPERIOR TYPE CUSTOM ALL AMENITIES BUILDINGS. ADJSUTM,ENTS WARRANTED AND JUSTIFIED ACCORDINGLY. THE SUBJECT IS LOCATED ON THE OCEAN IN A NARROW CORRIDOR OF COLLINS AVENUE AND ALL SALES ARE DEEMED SIMILAR IN LOCATION AND VIEWS WITH THE EXCEPTION OF SALE # 4 WHICH IS A 1/1.5 CLOSED SALE INSIDE THE IMMEDIATE BUILDING THAT IT'S USED AS SOLELY AS A CLOSED SALE IT S NOT CONSIDERED A SIMILAR MARKET INDICATOR FOR THE SUBJECT. NO ADJUSTMENTS WARRANTED FOR THE DIFFERENCE IN PRICE IS EVIDENT BY THE FUNCTIONAL UTILITY OF 1 BEDROOM AND A CITY VIEW NO CORNER /OCEAN. indicated Vatue by Sales Comparison Approach$ 1,400,000 Estimated Monthly Market Rent $ X Gross Rent Mutipier indicated Value by Income Approach rey S of income Approach (including support for market rent and GRM) Indicated Value by: Sales Comparison Approach $ 1,400,000 Income Approach (if developed) $ THE MOST WEIGHT WAS PLACED ON THE SALES COMPARISON APPROACH. fi Tlis appraisal ls made [J “as is", D<) subject to completion per plans and specifications on the basis of a hypothetical conditon that the improvements have been completed, [—] subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or following required inspection based on the extraordinary assumption that the condition or defici does not re Based on a complete visual inspection of the interior and exterior conditions, and appraiser's certification, my {our) opinion of the $1,400,000 _,as of 06/14/2007 Freddie Mac Form 465 March 2005 areas of the subject property, market value, as hofined, of which is the date of ins; io Page 3 ot's! ire alteration or ré subject to the lr; WALK THRU BY THE CLIENT. defined scope of work, statement of assumptions and limiting e real property that is the subject of this report is and the effective date of this appraisal. UL -Fanpie.Mae Form 1073 March 2005 Gi S! EXHIBIT 2b Form 1073 — "WinTOTAL* appraisal software by a ta mode, inc. eee Page PAGE opxhibit___ SUMMARY REPORT File # 07-0609 Individual Condominium Unit Appraisal Report This report form is designed to report an appraisal of a unit in a condominium project or 2 condominium unit in a planned unit development (PUD). This report form is not designed to report an appraisal of a manufactured home or a unit in a cooperative project. This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value, statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intended use, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's continuing education or membership in an appraisal organization, are permitted. SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assigneaeat.and the reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete. visual inspection of the interior and exterior areas of the subject unit, (2) inspect and analyze the condominium project, (3) inspect the neighborhood, (4) inspect each of the comparable sales from at least the street, (5) research, verify, and analyze data from reliable public and/or private sources, and (6) report his or her analysis, opinions, and conclusions in this appraisal report. INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of this appraisal for a mortgage finance transaction. INTENDED USER: The intended user of this appraisal report is the lender/ctient. he MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knawledgeably and assuming the price is not affected by undue stimulus. implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller ‘to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements Comparable thereto; and (5) the price represents the normat consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with the sale. *Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are Necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. : STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the following assumptions and limiting conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it, except for information that he or she became aware of during the research invoived in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opinions about the title. 2. The appraiser has provided a sketch in this. appraisal report to show the approximate dimensions of the improvements. the sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determination of its size. 3, The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources)-and has noted in this appraisal report whether any portion of the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. . 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, untess specific arrangements to do so have been made beforehand, or as otherwise required by law. 5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject. property or that he or “she ‘became aware of during the research involved in performing this appraisal. Unless otherwise stated in this appraisal feport, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, this appraisal report must not be considered as an environmental assessment of the property. 6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will be performed in a professional manner. “Page 4of6~ ‘ '~/Paritie'Mae Form 1073 March 2005 EXPERT i 2 IS Form 1073 ~ “Win OTAL* costae by ale al a a SAGE OF Page, = . JP >11|,!] Freddie Mac Form 465 March 2005 SUMMARY REPORT File # 07-0609 : Individual Condominium Unit Appraisal Report APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: 1. i have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report. 2. | performed a complete visual inspection of the interior and exterior areas of the subject property. |. reported the condition of the improvements in factual, specific terms. | identified and reported the physical deficiencies that could affect the livability, soundness, or structural integrity of the property. 3. | performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal . Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 4, | developed my opinion of the market value of the reat property that is the subject of this report based on the sales comparison approach to value. | have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. | further certify that 1 considered the cost and income approaches to value but did not develop them, unless otherwise indicated in this report. 5. | researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report. 6. | researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report. 7. | selected and used comparable sales that are locationally, physically,-and functionally the most similar to the subject property. 8. | have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home that has been built or will be built on the land. 9. | have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales. 10. | verified, from a disinterested source, all information in this teport that was provided by parties who have a financial interest in the sale or financing of the subject property. 11. | have knowledge and experience in appraising this type of property in this market area. 12. | am aware of, and have access to, the-necessary and appropriate public and private data sources, such as muttiple listing services, tax assessment records, public land records and other such data sources for the area in which the property is located. 13. | obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from reliable sources that | believe to be true and correct. 14. | have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. | have noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property or that | became aware of during the research involved in performing this appraisal. | have considered these adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject property. : . 15. Ihave not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and information in this appraisal Feport are true and correct. 16. | stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report. 17. 1 have no present or prospective interest in the property that is the subject of this report, and | have no present or Prospective personal interest or bias with respect to the participants in the transaction. | did nat base, either partially or . completely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, marital Status, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law. 18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned on any agreement. or.understanding, written.or otherwise,.that -|. would report (or present anatysis- supporting) a- predetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage foan application). 19. | personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. if 1 telied on significant real property appraisal assistance from any individual or individuats in the performance of this appraisal or the preparation of this appraisal report, | have named such individual(s) and disclosed the specific tasks performed in this appraisal report. | certify that any individual so named is qualified to perform the tasks. | have not authorized anyone to make a change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and | will take no responsibility for it. 20. | identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization that ordered and will receive this appraisat report. Freddie Mac Form 465 March 2005 Albane 50f8S POAT yc 7.23 phapalgMae Form 1073 March 2005 ; ~ Ay Parr i % a Form 1073 — "WinTOTAL* appraisal sottvare by a mide, Inc. — 1-BO0-ALAMODE = Page en Capa PAE or SUMMARY REPORT File # 07-0609 Individual Condominium Unit Appraisal Report 2t. The lender/client may disciose or distribute this appraisal report to: the borrower; another lender at the request of the borrower, the mortgagee or its successors and assigns; mortgage insurers; goverment sponsored enterprises; other secondary market participants; data collection or reporting services; professional appraisal organizations; any department, agency, or instrumentality of the United States; and any state, the District of Columbia, or other jurisdictions; without having to obtain the appraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisal _feport may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, public relations, news, sales, or other media). 22.1 am aware that any disclosure or distribution of this appraisal report by me or the lendet/client may be subject to certain laws and regulations. Further, 1 am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me. 23. The borrower, another fender at the request of the borrower, ‘the mortgagee or its successors and assigns, mortgage insurers, govemment sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any mortgage finance transaction that involves any one or more of these parties. 24. If this appraisal report was transmitted as an “electronic record” containing my “electronic signature,” as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as ifa paper version of this appraisal-report were delivered containing my original -hand written signature. SUPERVISORY APPRAISER'S CERTIFICATION; The Supervisory Appraiser certifies and agrees that: ; for this appraisal assignment, have read the appraisal report, and agree with the appraiser's 1. | directly supervised the apprai: usions, and the appraiser's certification. analysis, opinions, statements, c 2. | accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification: 3. The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser (or the appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the appiicable state law. 4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and Promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal feport was prepared. 5. If this appraisal report was transmitted as an “electronic record” containing my “electronic signature,” as those terms are defined in applicable federal and/or state laws (exciuding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. APPRAISER Signature eat ke Lu Name GUILLERMO ESCOBAR REE TRN. # Ri3523 Company Name ACCESS APPRAISALS GROUP SERVICES INC Company Address 7334 SW 42 ST, MIAMI FL 339155 Company Address 7334 SW 42ND STREET, MIAMI, FL.33155 Telephone Number 305 265-5050 . Telephone Number 305 265-5050 Email Address WILLYACCESSAPP@AOL.COM Email Address SUYINACCESSAPP@AOL.COM Date of Signature and Report JUNE 26, 2007 Date of Signature JUNE 26, 2007 Effective Date of Appraisal 06/14/2007 State Certification # ST.CERT.RES.REA. State Certification # or State License # RD 5179 or State License # RI3323 State FL or Other .. State # Expiration Date of Certification or License 11/30/2008 State FLORIDA Expiration Date of Certification or License 11/30/2008 SUBJECT PROPERTY _ ee & Did not inspect subject property ADDRESS OF PROPERTY APPRAISED. C1) Did inspect exterior of subject property from street 410275 COLLINS AVE, #1110 Date of Inspection : BAL HARBOUR, FL 33154-1414 C Did inspect interior and exterior of subject property APPRAISED VALUE OF SUBJECT PROPERTY $ 1,400,000 Date of Inspection LENDER/CLIENT Name STEPHANIE CELADA COMPARABLE SALES Company Name MJOP LENDER { Did not inspect exterior of comparable sales from street Company Address 8491 NW 17 ST, MIAMI, FL 33126 Did inspect exterior of comparable sales from street Date of Inspection Email Address APPRAISALS@MJOP.COM BETAS E20 Fanntiaé Form 1073 March 2005 Freddie Mac Form 465 March 2005 Pagebore iw! aoe ——t|—.. io fe ( mn , [| PAGE _. GF Exhibit — 9 & wd SUMMARY REPORT Individual Condominium Unit Appraisal Report Fie 07-0609 FEATURE SUBJECT COMPARABLE SALE # 4 COMPARABLE SALE #5 COMPARABLE SALE #6 Address and 10275 COLLINS AVE, #1110 [10275 COLLINS AVE, #408 |10275 COLLINS AVE, #410 110275 COLLINS AVE, # 1010 Unit # _BAL HARBOUR, FL 33154-141| MIAMI BEACH, FL 33154-1423 _|MIAMI BEACH, FL 33154-1423 _ [MIAMI BEACH, FL 33454-1423 Project Name and BAL HARBOUR HARBOUR HOUSE HARBOUR HOUSE BAL HARBOUR Phase 1 1 4 Proximity to Subj Less than .01 mile NW. Less than .01_ mile NW. Less than .01 mile NW. Sale Price $1,338,900 eS 850,000) $1,449,000 $1,329,900 Sale Price/Gross Liv. Area $ 894.9950. 11/$ 954.8559, ft $768.05 54. ft $888.97 sq. ft, Data Source(s SALES OFF/HUD 1 SALES OFF. SALES OFF Verification 5 OBSERVATION INSPECTION INSPECTION VALUE ADJUSTMENTS DESCRIPTION | DESCRIPTION | +(j $ Adjustment | DESCRIPTION | +() $ Adjustment [ DESCRIPTION | +()$ Adjustment Sales or Firancing CONV FIN UNDER UNDER Concessions CONT DTE 05 CONTRACT CONTRACT Date of Sale/Time 01/07, 09/2005 09/03/2005. Location SUBURBAN [SUBURBAN ‘SUBURBAN SUBURBAN _| 5] Leasehold/Fee Simple FEE SIMPLE [FEE SIMPLE FEE SIMPLE FEE SIMPLE fej HOA Mo. Assessment 970.14 606.34 970.14 970.14 FY Common Elements SEE SEE SEE SEE Eq and Rec. Facitties ADDENDA _|ADDENDA [ADDENDA ADDENDA Floor Location 11TH FLOOR |4TH FLOOR +7,000|4TH FLOOR +7,000] 10TH FLOOR A View FULL OCEAN _|CITY/BAY. FULL OCEAN FULL OCEAN Fd Desi CONDO CONDO . CONDO CONDO Ft Quality of Construction CBS/SUPER__ICBS/SUPER | CBS/SUPER CBS/SUPER ‘Actual - NEW. NEW : NEW NEW Condition GOOD. GOOD) GOOD GOOD . 4 Above Grade Total word Baths [ Total [Binns] Baths | Total [Borms.] Baths Total [Borms | Baths |“ Room Count pe 2f25[-4 1 [415 412 [25 4/2 [25 Gross Living Area 1,496 sq. it, 893 39. fi 4,496 so, it, iy 1,496 sg. ft, Basement & Finished NIA NIA NIA : NIA Rooms Below Grade N/A NIA NIA NIA Functional Utity STANDARD __[1-BEDROOM STANDARD STANDARD Heating/Cooing CENTRAL A/C_|CENTRAL A/C CENTRAL A/C CENTRAL AIC Energy Efficient terns STANDARD _{STANDARD STANDARD STANDARD arport 1-UNDRGRND_|1-UNDRGRND. 1-UNDRGRND 4-UNDRGRND. Porch/Patio/Deck BALCONY [BALCONY BALCONY BALCONY _|__ | Net Adj otal} + - | 7,000]. & + -_ | zoool (}+ Ci- |$ Adjusted Sale Price Net Ad. 08 % Net Adj. = 0.6 % Net Adj. % of Comparables Gross Adj. 0.8 %J$ 857,000)Gross Adj. 0.6 %|$ _1.156,000|Gross Adj. %i$ 1,329,900 Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on 3). Tem SUBJECT [ COMPARABLE SALE #4 COMPARABLE SALE #6 Date of Prior Sale/Transfer INO SALES IN NO SALES IN NO SALES IN Price of Prior Sate/Transfer PAST 3 YEARS PAST 3 YEARS PAST 3 YEARS Fs} Data Source(s} PUBLIC RECORDS PUBLIC RECORDS PUBLIC RECORDS Effective Date of Data Source(s) [06/2007 [06/2007 06/2007 Analysis of prior sale or tanster history of the subject property and comparable sales THE APPRAISER RESEARCHED 1 YEAR PAST HISTORY ON THE UTILIZED COMPARABLES, THE RESULTS ARE LISTED ABOVE. Aralysis/Comments SUBDIVISION, SALES # COMPARABLE #4 IS A 1/1.5 MODEL THE ONLY CLOSED SALE AS THE PRESENT TIME WITHIN THE SUBJECTS: VALUE. 5 AND 6 ARE 10 LINES CORNER FULL OCEAN PENDING CLOSING DATE THAT SUPPORTS THE SUBJECT Freddie Mac Form 465 March 2005 fxs / Form 1073.(AC) — sin TOTAL software by & Ja mode, inc. 1-800-ALAMODE 4 Exhibit, Fannie Mae Form 1073 March 2005 nein gt a Page . . SUMMARY REPORT Individual Condominium Unit Appraisal Report —_re# 07-0609 FEATURE SUBJECT COMPARABLE SALE #7 COMPARABLE SALE #8 COMPARABLE SALE #9 Address and 10275 COLLINS AVE, #1110 |10275 COLLINS AVE, # 1131 19701 COLLINS AVE Uni # __BAL HARBOUR, FL 33154-141]BAL HARBOUR, FL 33154-1414 [BAL HARBOUR, FL 33154-1414 | Project Name and BAL HARBOUR BAL HARBOUR ST REGIS HOTEL CONDO Phase 4 3 Proximity to Subj Less than .01 mile NW 0.66 miles S Sale Price $. 1,338,900 i$ ___ 1,020,001 $1,900,000 § Sale Price/Gross Liv. Area___|$ —894.99sq. fL|$ _ 681.8259, ft $_1406.5859. tt, $ . ft Data Source(s) SALES OFF. SALES OFF Vertication Source(s INSPECTION OBSERVATION _ VALUE ADJUSTMENTS DESCRIPTION |" DESCRIPTION |+()$ Adjustment | DESCRIPTION | +(-) $ Adjustment | DESCRIPTION | +(-)$Ad ‘Sales or Financing CONV FIN UNDER Concessions PRE CONST 05} CONTRACT Date of Sale/Time 06/2007 2010 Location SUBURBAN __|SUBURBAN SUBURBAN { 3) Leasehold/Fee Simple FEE SIMPLE [FEE SIMPLE FEE SIMPLE al fe] HOA Mo. Assessment 970.14 879.19 1800 +/- | E¥ Common Elements SEE SEE SEE 4 and Reo. Faciities ADDENDA [ADDENDA |ADDENDA, Fa} Floor Location 41THFLOOR [11TH FLOOR 41TH FLOOR View FULL OCEAN |BAYICITY BAY/CITY. : Fd Design (Sivte) CONDO. CONDO CONDO fej Quality of Construction CBS/SUPER |CBS/SUPER CBS/SUPER ‘Actual Age NEW - NEW NEW Condition GOOD GOOD GOOD ma Above Grade Tota! [Berms.[ Baths | Total [Barms.| Baths — Tord [Bdrms.| Baths Tat os Be : Room Count 4[ 2 2s5[4]2 [2s 4[2 [25 + 7 Gross Living Area 4,496 sq. ft 1,496 sa, tt 4,747 59. tt 59. ft Basernent & Finished NIA cy NIA Rooms Below Grade N/A NIA NIA Functional Utity STANDARD [STANDARD STANDARD Heating/Cooling CENTRAL AIC [CENTRAL A/C CENTRAL A/C : Efficient terns STANDARD [STANDARD STANDARD Garage/Carport 4-UNDRGRND [1-UNDRGRND VALET : Porch/PatiofDeck BALCONY [BALCONY BALCONY = | Net Ad + O-f + O- [8 (j+ [)- Is ‘Adjusted Sale Price Net Adj. % Net Adj. % Net Aci. % ‘of Comparables Gross Adj. %|$ 1,020,000} Gross Adj. %|$____ 1,900,000}Gross Adj. %}$ Report the resutts of othe fesearch at and anayss Co the prior sale ar transfer history of the subject property and comparable sales (report additional prior sales on page 3),_ SUBJECT COMPARABLE SALE #7 COMPARABLE SALE #6 COMPARABLE SALE #9 Date of Prior Sigel NO SALES IN NO SALES IN NO SALES IN Price of Prior Sale/Transfer PAST 3 YEARS PAST 3 YEARS PAST 3 YEARS Data Source(s) PUBLIC RECORDS PUBLIC RECORDS PUBLIC RECORDS Effective Date of Data Source(s) [06/2007 06/2007 06/2007 I Analysis of prior sale or transfer history of the subject property and comparable sales THE APPRAISER RESEARCHED 1 YEAR PAST HISTORY ON THE UTILIZED COMPARABLES. THE RESULTS ARE LISTED ABOVE.SEE PICTURE 7 AND YELLOW BUBBLE, THIS UNIT IS ALSO FLANKED BY ONE BAL HARBOUR BUILDING TO THE NORTH VIEW. Analysis/Comments SALE #7 !S A BAY/CITY VIEW ON THE Y LINE A 11TH FLOOR UNIT 1131, UNIT 1132 FACES FULL OCEAN AND NORTH. THE SUBJECTS UNIT IS A FULL OCEAN VIEW ON THE 10 LINE CORNER . THE VALUE DIFFERENCE IS THE FULL OCEAN VIEW. SEE FRONT VIEW PICTURE AND CLOUNT 11 FLOORS UP THE LAST UNIT ON THE LEFT IS 1131 WHICH HAS BAL HARBOUR SHOPS AND A FULL CITY BAY VIEW. SALE # 8 {S UNDER CONTRACT AT PRE-CONSTRUCTION FOR THE NEW ST.REGIS HOTEL RESIDENCES SEE GROWTH . Freddie Mac Form 465 March 2005 -ALASODE Exnio, AS vay) ea General Text Addendum File No. 07-0609 BorrowerClient__RICARD A SOUKI/SAMIR EL. SOUKI Property Address 10275 COLLINS AVE BAL HARBOUR. County MIAMI DADE Lender MJOP LENDER * Condo : Neighborhood - Descripti THE SUBJECT IS LOCATED IN A SUPERIOR AREA CALLED BAL HARBOUR. THIS ARE HAS SUPERIOR SHOPPING, HOTELS, NIGHTLIFE, BEACHES, RESORT STYLE COMMUNITY. THE AREA iS OSTRACIZED BY WATER BOUNDARIES AND DEPARTURE OF THE AREA IS EMINENT DUE TO THESE BOUNDARIES. EVERY EFFORT IS WARRANTED TO FIND SIMILAR HIGH END BUILDINGS WITH SIMILAR AMENITIES THAT SUPORT AREA MARKET VALUE. POPULARITY OF THE AREA SUPERIOR. THE REBUTTAL: THE UNIT AT10101 COLLINS AVE 8G THE PALACE DOES NOT HAVE A FULL OCEAN VIEW ,FACES A BUILDING. ALSO BUILT IN 1994 NOT NEW LIKE THE SUBJECT PROPERTY'S OR ITS SUPERIOR INTERIOR EXTRAS OR IT'S FEATURES OF A FULL SERVICE BUILDING. ALSO THE LOCATION IS INFERIOR TO THE SUBJECT NOT THE POINT BUILDINGS SEE LOCATION. 9595 COLLINS AVE UNIT N10-C FACES THE NORTH AND THE VIEW IS PARTIAL OCEAN AND POOL AND THE VIEW OF THE NEXT BUILDING CALLED THE MAJESTIC TOWERS.ADDITIONAL THE LOCATION HERE IS INFERIOR TO BAL HARBOUR THE LOCATION IS SURFSIDE. 9499 COLLINS AVE #601 LA SPIAGGIA HAS DIRECT OCEANFRONT VIEW HOWEVER THE BUILDING IS NOT SIMILAR IN DESIGN, AMENITIES AND APPEAL TO THAT OF THE SUBJECTS. iT IS OUR OPINNION THAT THE LOWER VALUE 1S REFLECTED IN THE LOCATION AND DIFFERENCES BETWEEN THE SUBJECT AND THE COMPARABLE. AS FAR AS GROWTH A PICTURE INSERT OF THE SOON TO BE DEMOLISHED SHRATON BAL HARBOUR AND FUTURE SITE OF THE ST.REGIS WHICH IS LOCATED IN 9701 COLLINS AVE , BAL-HARBOUR REPRESENTS . INCREASE IN VALUE AND GROWTH TO THE UNIQUE BAL-HARBOUR AREA SEE ST.REGIS RESIDENCES.COM AS WELL AS ONEBALHARBOUR.COM FOR ADDITIONAL MARKET SUPPORTERS.SOLD OUT A 1917 SQFT UNIT FACING WEST BALHARBOUR SHOPS AND BAY 2 BEDROOMS 2 BATH $2,400,000. AT 9701 COLLINS AVE. NOT FULL OCEAN VIEW. ‘ RECONCILIATION OF DATA UTILIZED: THE PENDING SALES WITHIN THE IMMEDIATE BUILDING REFLECT ACTUAL MARKET TRANSACTIONS BETWEEN BUYERS AND SELLERS. THE BAL HARBOUR AREA IS UNIQUE AND NOT SIMILAR TO ANY OTHER AREA WITHIN SURFSIDE NOR NORTH MIAMI BEACH WHICH IS WHERE COMP # 31S LOCATED. MOST EMPHASIS IS STILL REFLECTED ON THE PENDING CONTRACTUAL SALES LISTED IN.COMPS # 5 6 AND 7. THE PARKING IS OWNED BY THE UNIT WITH.UNLIMITED AMOUNT OF VALET PARKING ADDITIONAL 1S PART OF THE UNIT. ARECENTLY CLOSED SALE INSIDE THE IMMEDIATE BUILDING SAMLLER IN LIVING AREA SQFT Form TADD — *WinTOTAL” appraisal software by a la mode, inc. —~ 1-800-ALAMODE ney 121) |) eel SUBJECT PHOTOS Borrower/Client_RICARD A SOUKI/SAMIR EL SOUKI Property Address 10275 COLLINS AVE Cit BAL HARBOUR MJOP LENDER Zp Code_33154-1414 County MIAMI DADE: State FL. SUBJECT FRONT 10275 COLLINS AVE, #1110 SALES PRICE 1,338,900 GLA. 4,496 TOT. ROOMS 4 TOT. BEDRMS.2 TOT. BATHRM:2.5 LOCATION SUBURBAN VIEW FULL OCEAN SITE TYPICAL QUALITY © CBS/SUPER AGE NEW m= & SUBJECT REAR SUBJECT STREET Form PiC4x6.SR — "WinTOTAL* appraisal software by a fa mode, inc. — 1-800-ALAMODE U Pa e Exhibit____!__r'ag GI SUBJECT PHOTOS INTERIOR Borrower/Client_ RICARD A SOUKVSAMIR EL SQUKI Property Address 40275 COLLINS AVE : BAL HARBOUR County MIAMI DADE State FL Zp Code_ 33154-1414 MJOP LENDER SUBJECT INTERIOR 10275 COLLINS AVE, # 1110 SALES PRIGE 1,338,900 GLA 1,496 TOT. ROOMS 4 TOT. BEDRMS.2 TOT, BATHRM!2.5 LOCATION SUBURBAN view FULL OCEAN Site TYPICAL QUALITY — CBS/SUPER AGE NEW SUBJECT INTERIOR SUBJECT INTERIOR Form PIC4x6.S|— "WinTOTAL" appraisal software by ata mode, in, — 1-200-ALAMEYS DIL | Page_i SUBJECT PHOTOS INTERIOR Borrower/Client_RICARD A SOUKVSAMIR EL. SOUKI Property Address 10275 COLLINS AVE County MIAMI DADE State_ FL. Zp Code_ 33154-1414 SUBJECT INTERIOR 10275 COLLINS AVE, # 1110 SALES PRICE 1,338,900 GLA 1,496 TOT. ROOMS 4 TOT. BEDRMS.2 TOT. BATHAM:2.5 LOCATON SUBURBAN VIEW FULL OCEAN SITE TYPICAL QUALITY CBS/SUPER AGE NEW SUBJECT INTERIOR SUBJECT INTERIOR 5 COMPLAINT. a Form PIC4x6.S! — “WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE Exthibit__!_——_ Pam cd PHOTOGRAPH ADDENDUM BorowerClient_ RICARD A SOUKVSAMIR EL SOUKI Property Address_ 10275 COLLINS AVE Ci BAL HARBOUR County MIAMI DADE State Fi Zp Code_33154-1414 Lender MJOP LENDER - 2 ae < : AF seomicanack Gm G4 Form GPICAX6 — “WinTOTAL’ appraisal sotware by a la mode, inc. — 1-B00-ALANDRAibit Page. ceed COMPARABLE PHOTOS 1-3 BorowerClent_ RICARD A SQUKVSAMIR EL SOUKI Property Address_ 10275 COLLINS AVE - i BAL HARBOUR MIAMI DADE State FL. Zp Code 33154-1414 MJOP LENDER ey COMPARABLE 1 4401 COLLINS AVE 3501 PROX. TO SUB5.62 miles S SALES PRICE 1,440,000 GLA. 1,496 TOT. ROOMS 4 TOT. BEDRMS.2 TOT. BATHAM:2.5 LOCATON | SUBURBAN VIEW FULL OCEAN SITE TYPICAL QUALITY CBS/SUPER AGE 2 YRS COMPARABLE 2 9601 COLLINS AVE 1003 PROX. TO $UB0.73 mites S SALES PRICE 1,630,000 GLA 2,160 TOT. ROOMS 4 TOT. BEDRMS.2 TOT. BATHRM:2.5 LOCATON SUBURBAN VIEW FULL OCEAN SITE TYPICAL QUALITY — CBS/SUPER AGE 9 YRS COMPARABLE 3 16051 COLLINS AVE 2502 PROX. TO SUB1.84 miles N SALES PRICE 1,535,000 : GLA 2,245 TOT.ROOMS 4 TOT. BEDRMS.2 TOT. BATHRM:2.5 LOCATION SUBURBAN VIEW FULL OCEAN S SITE TYPICAL QUALITY — CBS/SUPER ee : AGE 1YR Form PIC4H6.CA — “WInTOTAL' appralsal sotware by a la mode, inc. — 1-800-ALAMODE Y “TQ Exhibit___|__.__ Page, _ Ele No. 07-0605] Paue #18) COMPARABLE PHOTOS 4-6 BorowerGlent —RICARD A SOUKVSAMIR EL SOUKI County MIAMI! DADE State_ FL. Zp Code_ 33154-1414 COMPARABLE 4 10275 COLLINS AVE, # 408 PROX. TO SUBLess than .01 mile N SALES PRICE 850,000 GLA 893 TOT. ROOMS 4 TOT. BEDRMS. 1 TOT. BATHRM'1.5 LOCATION SUBURBAN VIEW CITYIBAY SITE. TYPICAL QUALITY CBS/SUPER AGE NEW yoo bg 2 COMPARABLE 5 10275 COLLINS AVE, # 410 PROX..TO SUBLess than .01 mile N SALES PRICE 1,149,000 GLA. 1,496 TOT. ROOMS 4 TOT. BEBRMS.2 TOT. BATHPMIO. 5 TOT. BATHAM2.5 LOCATION SUBURBAN vEW FULL OCEAN SHE TYPICAL, QUALITY . CBS/SUPER AGE NEW COMPARABLE 6 40275 COLLINS AVE, # 1010 PROX. TO SUBLess than .01'mile 8 SALES PRICE 1,329,800 GLA 1,496 TOT. ROOMS 4 TOT. BEDAMS.2 TOT, BATHRN:2.5 LOCATION SUBURBAN VIEW FULL OCEAN SITE QUALITY CBS/SUPER AGE NEW BA ROMIN'S SEXHISIT are Form PIC4x6.CR — “WinTOTAL’ appraisal software by a fa made, inc, — 1-800-ALAMODE Exhibit, Comparable Photo Page BorrowerClient__RICARD A SOUKVSAMIR EL SOUKI Property Address 10275 COLLINS AVE BAL HARBOUR County MIAMI DADE Comparable 7 40275 COLLINS AVE, # 1131 Prox. to Subject Less than .01 mile NW Sales Price 1,020,000 Gross Living Ares. «= 1,496 Total Rooms 4 Total Bedrooms 2 Total Bathrooms «2.5 . Location SUBURBAN View BAYICITY Site TYPICAL Quality CBS/SUPER Age NEW SEE YELLOW BUBBLE Comparable 8 9701 COLLINS AVE Prox. to Subject 0.66 miles S Sales Price 1,900,000 Gross Living Area. 1,717 - Total Rooms 4 Total Bedrooms = 2 Total Bathrooms = 2.5 Location SUBURBAN View BAYICITY Site TYPICAL Quality CBS/SUPER Age NEW Comparable 9 Prox. to Subject Sates Price Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location - View Site Quality Age : Form PICPIX.CR — “WinTOTAL" appraisal software by a fa mode, inc. — 1-B00-ALAMODE 4 , P. ; Exhibit Listing Photo Page ~~] BorowerClient_RICARD A SOUKISAMIR EL SOUKI Property Address 10275 COLLINS AVE County “MIAMI DADE State FL Tp Code 33154-7474 Listing 9701 COLLINS AVE Prox to Subj. 5 BLKS List Price 2400000 D.O.M. SOLD OUT GLA 1911 Tot. Rooms 5 Tot. Bedrms. 2 Tot. Baths. 2 Age NEW NEW GROWTH ADMIN SSTRATIVE CO MP LAINE EXHIGI Bote - Roe ee Poa Borowe/Clent_RICARD A SOUKVSAMIR EL SOUKI Listing Photo Page County MIAMI DADE: State FL Zp Code 33154-1414 ‘Listing 9701 COLLINS AVE Prox. to Subj. 5 BLKS List Price = 2400000 0.0.M. SOLD OUT GLA. 1911 Tot.Rooms 5 Tot. Bedrms, 2 Tot. Bathrms. 2 Age NEW NEW GROWTH Listing Prox. to Subj. Ust Price LOCATION MAP Borrower/Clent__RICARD A SOUKISAMIR EL SOUKI Address_ 10275 COLLINS AVE BAL HARBOUR County MIAMI DADE. State FL Zip Code_33154-1414 FLOOD MAP Borrowe/Clien!__RICARD A SOUKYSAMIR EL SOUKI State_FL Zp Code 33154-1414 County_MIAMI DADE MJOP LENDER Prepared for: I nterFlood a Access Appraisals ‘by a be mode 10275 COLLINS AVE www.interflood.com © 1-800-252-6633 MIAMI BEACH, FL 33154-1423 }) For more information about flood zones and flood Powered by FloodSource f 877.77.FLOOD ADMINISTRATIVE COMPLAINT EXHIBIT pase OS OF _ Form MAP.FLOOD — “WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE Snot Poe LOS Operating Income Statement One- to Four-Family Investment Property and Two- to Four-Family Owner-Occupied Property Property Address 10275 Collins Ave 1116 BAL HARBOUR FL 33154-1414 Street City State Zip Code General Instructions: This form is to be prepared jointly by the foan applicant, the appraiser, and the lender's underwriter. The applicant must Complete the following schedule indicating each unit's rental status, lease expiration date, current rent, market rent, and the responsibility for utility expenses. Rental figures must be based on the rent for an “unfumished" unit, Currently Expiration Current Rent Market Rent Paid Paid Rented Date Per Month Per Month Utility Expense = By Owner . By Tenant UnitNo.1 Yes [1] No NYA $ o ¢ 5,000 Electricity. im & UnitNo.2 Yes [_] No s_ § Unit No.3 Yes. No [| $ $ Unit No. 4 Yes. No{ | $ $s im Total $ 5,000 } The applicant should complete all of the income and expense projections and for existing properties provide actual year-end operating statements for the past two years (for new properties the applicant's projected income and expenses must be provided). This Operating Income Statement and any previous operating statements the applicant provides must then be sent to the appraiser for review, comment, and/or adjustments next to the applicant's figures (e.g. Appiicant/Appraiser 288/300). \f the appralser is retained to complete the form instead of the applicant, the lender must provide to the appraiser the aforementioned operating statements, mortgage insurance premium, HOA dues, leasehold payments, subordinate financing, and/or any other retevant information as to the Income and expenses of the subject property received from the applicant to substantiate the projections. The underwriter should carefully review the applicant's/appraiser's projections and the appralser’s comments conceming those projections. The underwriter should make any final adjustments that are necessary to more accurately reflect any income or expense items that appear unreasonable for the market. (Real estate taxes and insurance on these types of properties are included in PIT! and not catculated as an annual expense item) income should be based on the current rents, but should not exceed market rents. When there are no current rents because the property is proposed, new, or currently vacant, market rents should be used. 4 Annual Income and Expense Projection for Next 12 months Adjustments by income (Do not include income for owner-occupied units) By Applicant/Appraiser Lender's Underwriter Gross Annual Rental (from unit(s) to be rented) $ 60,000. $. Other Income (include sources) | ca + Total... { %) Less Vacancy/Rent Loss _ Effective Gross Income __. Expenses (Do not include expenses for owner-occupied units) Other Taxes or Licenses Casual Labor... This includes the costs for public area cleaning, . though the applicant may not elect to contract for such services. Intertor Paint/Decorating _. This Includes the costs of maintain the interiors of the living unit. General Repairs/Maintenance __ veseeseeseeeeee This includes the costs of contract labor and materials that are maintain the public corridors, stairways, roofs, mechanical systems, grounds, etc. Management Expenses ee | ‘These are the customer expet professional management company would charge to manage the property. _ Supplies 250 428 Totat Replacement Reserves - See Schedule on Pg. 2 Miscellaneous Total Operating Expenses This Form Must Be Reproduced By Seller die Mat Freddie Mac Page 1 of 2 Form 998 Aug 88 Access Appraisals Group Form INC2 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800 -ALAMODE Exhibit Replacement Reserve Schedule Adequate replacement reserves must be calculated regardless of whether actual reserves are provided for on the owner's operating statements of are Customary in the local market. This represents the total average yearly reserves. Generally, all equipment and components that have a remaining life of more than one year - such as refrigerators, stoves, clothes washers/dryers, trash compactors, furnaces, roofs, and carpeting, etc. - should be expensed on a replacement cost basis. . Equipment Replacement Remaining By Applicant’ Lender : Cost Ufe Appralser Adjustments Stoves/Ranges $ 4,200 ea. + 15 Yrs. x 1 Units=$ BOG Refrigerators @$ 3,500 ea. + 15. Yrs. x 4 Units=$ 28H GH Dishwashers @ $s 750_ea. + __ 15 Yrs. x 1 Units = $ S00 $n AC Units __ @s ea. + Yrs. x Units = $ $ C. Washer/Dryers @¢ 680_ea + __15 Yrs. x 4 Units =$ SB HW Heaters $ ea + Yrs, x Units $ Fumace(s) . $ ea. + Yrs. X Units=$ (Other) & ea, + Yrs. x Units $ ROO @t lt ‘Yes. x One Bidg. = $ $ Carpeting (Wall to Wall) Remaining Ute (Units) 20. Total Sq. Yds. @ $ 40 PerSq. Yd. + 40 Yrs. = [a 4) a (Public Areas) Tota! Sq. Yds. @ $ Per Sq. Yd. + Yrs. = SG Totat Replacement Reserves. (Enter on Pg. 1) 428 ; Operating Income Reconcliiation $ “60,000 - 4,678 =¢$ 58,322 +2= $ 4,860 Effective Gross income Sea ‘Operating Expenses. Operating income Monthly Operating income $$ 4/860. - $ = Monthly Operating Income Monthly Housing Expense Net Cash Row (Note: Monthly Housing Expense includes principal and interest on the mortgage, hazard insurance premiums, real estate taxes, mortgage insurance premiums, HOA dues, leasehold payments, and subordinate financing payments.) Underwriter’s instructions for 2-4 Famity Owner-Occupied Properties * tf Monthty Operating Income Is a positive number, enter as "Net Rental income" in the “Gross Monthly income" section of Freddie Mac Form 65/Fannie Mae Form 1003. if Monthly Operating Income is a negative number, it must be included as a liability for qualification purposes. * The borrower's monthly housing expense-to-income ratio must be calculated by comparing the total Monthly Housing Expense for the subject property to the borrower's stable monthly income. Underwriter’s instructions for 1-4 Family investment Properties If Net Cash Flow Is a positive number, enter as "Net Renta! income" in the "Gross Monthly Income” section of Freddie Mac Form 65/Fannie Mae Form 1003. If Net Cash Flowis a negative number, it must be included as a liability for qualification purposes. * The borrower's monthly housing expense-to-income ratio must be calculated by comparing the total monthly housing expense for the borrower's primary residence to the borrower's stable monthly income. Appraiser's Comments (Including sources for data and rationale for the projections) SUNE 26,2007 Date GUILLERMO ESCOBAR REG. TRN. # RI3323 Appraiser Name ‘Appraiser Signature 7 Underwriter's Comments and Rationale for Adjustments ee Underwriter Name Underwriter Signature Freddie Mac Form 998 Aug 88 Page 2 of 2 Form INC2 — "WinTOTAL* appraisal software by a la mode, inc. — 1-800-ALAMODE Y jou Page, Exhibit . SINGLE FAMILY COMPARABLE RENT SCHEDULE This form is intended to provide the. appraiser with a familiar format to estimate the market rent of the subject property. Adjustments should be made only for items of significant difference between the comparables and the subject property. COMPARABLE NO. 2 COMPARABLE NO. 3 ITEM SUBJECT. COMPARABLE NO. 1 Address 10275 COLLINS AVE, #1110 | 9601 COLLINS AVE 1003 18101 COLLINS AVE 704 16699 COLLINS AVE 3503 BAL HARBOUR, FL 331 MIAM! BEACH MIAMI BEACH MIAMI BEACH 3.53 miles N 2.64 miles N Date Lease Begins “Tow2007 01/2007 01/2007 Date Lease Expires A 01/2008 01/2008 01/2008 $ Less: Utilities 0 Furniture $ $ 4,900 SALES OFF MLX,PUBLIC MLX,PUBLIC INSPECTION _| OBSERVATION OBSERVATION DESCRIPTION just, [Cis adust [DESCRIPTION | +(-)$ Adjust. SUBURBAN SUBURBAN FULL OCEAN FULL OCEAN CONDO CONDO SUPERIOR SUPERIOR NEW GOOD 1,496 Sq. Ft. a [Net Adj. (totat) (a Market Rent ¢ Comments on market data, including the range of rents for single family properties, an estimate of vacancy for single family rental properties, the general trend of rents and vacancy, and support for the above adjustments. (Rent concessions should be adjusted to the market, not to the subject property.) ALL RENTALS ARE LOCATED WITHIN THE SUBJECTS MARKET AREA. THE MARKET INDICATES THE FOLLOWING APPROXIMATELY BETWEEN $4500 TO $5000. ALL THREE RENTALS ARE SIMILAR IN FUNCTIONAL UTILITY, DESIGN AND MARKET APPEAL TO THE SUBJECT PROPERTY. Final Reconciliation of Market Rent: THE MARKET RENTAL WAS DERIVED FOR MULTIPLE REALTORS SERVICES. ALL DATA IS OBTAINED BY STATISTICS PROVIDED BY RENTALS, ACTIVE AND PREVIOUS RENTAL AND LEASING INFORMATION WITHIN THE IMMEDIATE MARKET AREA. | (WE) ESTIMATE THE MONTHLY. MABRET RENT OF THE SUBY PeTAS OF 06/14/2007 Appratser(s) SIGNATURE itil ko i A NAME_GUILLERMO ESCOBAR REG. TRN. # RI3323 d {if applicabte) i NAME SUYIN DECASTRO RD.#5179 Freddie Mac Form 1000 (8/88) [Y2K] Access Appraisals Group Form RNT — “WinTOTAL" appraisal software by a la mode, iné: & _— : eee oe . Evhibit uy page | QO : Access Appraisals Group : SUMMARY REPORT Appraisal Update and/or Completion Report fie# 07-0609 ‘The purpose of this report form is to provide the lender/client with an accurate update of an appraisal and/or to report a certification of completion. The appraiser must identify the service(s) provided by Selecting the appropriate report type. Property Address 10275 COLLINS AVE Unit # 1110 City BAL HARBOUR State FL Zip Code 33154-1414 Legal Description BAL HARBOUR OCEAN FRONT ADDN PB 57-68 UNIT 1110 AKA THE NEW H. County MIAMI DADE. Borrower RICARD A SOUKUSAMIR E Contract Price $ 1,338,900 Date of Sale 09/03/2005 _ Effective Date of Original Appraisal 06/14/2007 Property Rights Appraised [I Fee Simple [1] Leasehold C1 Other (describe) Original Appraised Value $ Original Appraiser GUILLERMO ESCOBAR REG. TRN. # R13323 Company Name ACCESS APPRAISALS GROUP SERVICES,INC Original Lender/Client_ MJOP LENDER Address 8491 NW 17 STMIAMI, FL 331267 MDORAL ,FL 33178 54 SUMMARY APPRAISAL UPDATE REPORT INTENDED USE: The intended use of this appraisal update is for the lender/client to evaluate the property that is the subject of this report to determine if the property has declined in value since the date of the original appraisal for a mortgage finance transaction. INTENDED USER: The Intended user of this appraisal update is the lender/client, SCOPE OF WORK: The appraiser must, at a minimum: (1) concur with the original appraisal, (2) perform an exterior inspection of the subject property from at least the street, and (3) research, verify, and analyze current market data in order to determine if the property has declined in value since the effective date ‘of the original appraisal. HAS THE MARKET VALUE OF THE SUBJECT PROPERTY DECLINED SINCE THE EFFECTIVE DATE OF THE PRIOR APPRAISAL? Yes [X} No APPRAISER'S CERTIFICATION: The appraiser certifies and agrees that: 1. Thave, at a minimum, developed and reported this appraisal update in accordance with the scope of work requirements stated in this appraisal update report and concur with the analysis and conclusions in the original appraisal. . 2. _ | performed this appraisal update in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place-at the time this appraisal update was prepared. 3. _ | have updated the appraisal by incorporating the originat appraisal report. 4. _\| have summarized my analysis and conclusions in this appraisal update and retained all supporting data in my work file. SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that: 1. [directly supervised the appraiser for this appraisal update assignment, have read the appraisal update report, and agree with the appraiser's analysts, opinions, statements, conclusions, and the appraiser's certification. 2. accept full responsibility for the contents of this appraisal update report Including, but not limited to, the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. * 5-CERTIFICATION-OF GOMPLETION INTENDED USE: The intended use of this certification of completion Is for the lender/client to confirm that the requirements or conditions stated in the appraisal report referenced above have been met. INTENDED USER: The intended user of this certification of completion is the lender/client. HAVE THE IMPROVEMENTS BEEN COMPLETED IN ACCORDANCE WITH THE REQUIREMENTS AND CONDITIONS STATED IN THE ORIGINAL APPRAISAL REPORT? DQ Yes [] No_ if No, describe any impact on the opinion of market value. AS PER PLANS AND SPECS.THE SUBJECT HAS A PROTECTIVE PALSTIC COVERING ON THE FLOOR UNTIL FINAL WALK THRU, AFTER A COMPLETE INSPECTION ALL APPLIANCES: ARE PRESENT AS WELL AS THE BATH FIXTURES AND KITCHEN CABINETS. stated in the original appraisal have been satisfied. : SIGNATURES ° ADDITIONAL CERTIFICATION: (we cettify that if this report was transmitted as an “electronic record” containing my “electronic signature,” as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), 9,4 facsimile transmission of this report containing a copy or representation of my signatéfe, the report shall be as effective, enforceable and valid as if ap ersion of this #p aisal report were delivered Company Name ACCESS APPRAISALS GROUP SERVICES, INC Company Name Company Address 7334 SW 42 ST, MIAMI, FL 33155 Company Address 7334 SW 42ND STREET, MIAMI, FL 33155 Telephone Number 305 265-5050 Telephone Number 305 265-5050 Date-of Signature and Report JUNE 26, 2007 Date of Signature’ JUNE 26, 2007 Effective Date of Appraisal Update : State Certification # ST.CERT.RES.REA. Date of Inspection 06/14/2007 or State License # RD 5179 State Certification # or Other or State License # RI 3323 State FL jor Other (describe) State # Expiration Date of Certification or License 11/30/2008. Expiration Date of Certification or License 11/30/2008 SUPERVISORY APPRAISER CURRENT LENDER/CLIENT EX) Did not inspect subject property Name STEPHANIE CELADA CO Did inspect exterior of subject property from street Company Name MJOP LENDER Date of Inspection Company Address 8491 NW 17 STMIAMI,, FL. 33126 CO Did inspect interior and exterior of subject property DORAL FL 33178 Date of inspection Soe raat: Freddie Mac Form 442 March 2005 Page 1 of 1 lie Mae Form 1004D March 2005 Q Es Form 1004D — "WinTOTAL* appraisal software by a la mode, ine. - ne Onn i G SUBJECT INTERIOR PHOTO PAGE BorowerCient RICARD A SOUKVSAMIR EL SOUKI Property Address 10275 COLLINS AVE Ci BAL HARBOUR : County MIAMI DADE State_ FL Zp Code_33154-1414 Lender MJOP LENDER SUBJECT INTERIOR 10275 COLLINS AVE, # 1110 SALES PRICE 1,338,900 GROSS LIVING AREA 1,496 TOTAL ROOMS 4 TOTAL BEDROOMS 2 TOTAL BATHROOMS 2.5 LOCATION SUBURBAN VIEW FULL OCEAN ‘SITE TYPICAL QUALITY CBS/SUPER AGE NEW . Pe wR O SUBJECT INTERIOR SUBJECT INTERIOR \07 Form PICPIX.S! — “WinTOTAL" appraisal software by a ta mode, inc. — 1-B00-ALAMODE Ci ahi | Exhibit . eu Page, DBPR RE-2060 — Request for Change of Status — Registered Trainee Appraiser STATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION 1940 North Monroe Street Tallahassee, FL 32399-0750 Customer Contact Center: 850.487.1395 FAX: 850.488.8040 www.myfloridalicense.com/dbpr — CHECK ACTION REQUESTED Action Requested : Q_ Request inactive status ~ / Q Designate a trainee's primary supervisor Terminate a trainee’s primary supervisor Q_Designate a trainee’s secondary supervisor Q Terminate a trainee’s secondary supervisor . REGISTERED TRAINEE APPRAISER Registration’Number* —,- a egis! ration umber Vai 2 3 = Registrant Name . Viflerwmg Escosarte PRIMARY/SECONDARY SUPERVISOR OF REGISTERED TRAINEE APPRAISER, INFORMATION oe Supervisor's License/Certification Number Supervisor's Designation ye : EV x Certified Residential Appraiser Primary Supervisor : Certified General Appraiser Q Secondary Supervisor Q Licensed Appraiser Primary/Secondary Supervisor Name Primary Supervisor's Contact Information Suy TAY De Cato Telephone number. . rae fn 34 E-mail oatress:fyaisaled lesa 0 |. _ . ATTEST STATEMENT | | affirm that | have provided the above information completely and truthfully to the best of my knowledge. Primary Supervising Appraiser Sign Here: . Date: Required for all action requests Secondary Supervising Appraiser : : Sign Here: Date: Required to Designate or Terminate Trainee’s Secondary Supervisor nee 22/0% 06 equifed to Designate Primary or Secondary Supervisor or to Squest Inactive Status Registered Trainee Sign Here: at: SOMPLAINT, Revised 1107 0 fF rays, snl, : y ™REZ060 Req for Chnge Status RTA J vat ie) Ci DBPR RE-2060 — Request for Change of Status — Registered Trainee Appraiser STATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION 1940 North Monroe Street Tallahassee, FL 32399-0750 Customer Contact Center: 850.487.1395 FAX: 850.488.8040 www. myfloridalicense.com/dbpr — CHECK ACTION REQUESTED Action Requested Q Designate a trainee’s primary supervisor Q Designate a trainee’s seconda supervisor Q Request inactive status Q_ Terminate a trainee's primary supervisor id” Terminate a trainee’s secondary supervisor REGISTERED TRAINEE APPRAISER | Resistration Number 4a 3323 [Registrant Name Gu: fJer+4. CSCHOS APL INF PRIMARY/SECONDARY SUPERVISOR OF REGISTERED TRAINEE APPRAISER ORMATION | Supervisor's License/Certification Number ‘Rbb2 ft >- Supervisor's Designation Certified Residential Appraiser Q Primary Supervisor Secondary Supervisor Q Certified General Appraiser Q Licensed Appraiser Primary/Secondary Supervisor Name Michelle le Leper: Primary Supervisor's Contact Information Telephone number: E-mail address’ Dpfa (Fr ldewna wh aol ‘ ATTEST STATEMENT best of my knowledge. Primary Supervising Appraiser Sign Here: | affirm that | have pr. vided the above information completely and truthfully to the Required for all action requests Secondary Supervising Appraiser Sign Here: Date: Registered Trainee Sign Here: «te or Terminate-Trainee’s Secondary Supervisor equifed to Design.:te Primafy dr Seconda Request Inactive St: lus ry Supervisor or to Revised 1107 ADMINISTER, frase me fs THY Ap COMPLAINT RE-2060 Req for Chnge Status RTA eens TE STATE OF FLORIDA OEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION 4940 North Monroe Street Tallahassee, FL 32399-0750 Customer Contact Center: 850.487.1395 FAX: 850.488.8040 www.myfloridalicense.com/dbpr ; CHECK ACTION REQUESTED Action Requested / Request inactive status Q Designate a trainee's primary supervisor Terminate a trainee's primary supervisor Q_ Designate a trainee's secondary su Q Terminate a trainee's secondary supervisor __REGISTERED TRAINEE APPRAISER | Registration Number am 3 5 2 3 Registrant Name PRIMARY/SECONDARY SUPERVISOR OF REGISTERED TRAINEE APPRAISER , INFORMATION Supervisor's License/Certification Number Supervisor's Designation ‘ S\ ee Certified Residential Appraiser Primary Supervisor | Certified General Appraiser Q Secondary Supervisor Q. Licensed Appraiser Primary/Secondary Supervisor Name Primary Supervisor's Coniact Information Road wt 5 . U4 \ “ De Ca Myo Telephone number: E-mail address: LYM aIs4 | a 0 | ATTEST STATEMENT | affirm that | have provided the above Information completely and truthfully to the best of my knowledge. Primary Supervising Appraiser Sign Here: Required for all action requests Secondary Supervising Appraiser Sign Here: : Date: re Required to Designate or Terminate Tralnee's Secondary Supervisor fad to Designate Primary or Secondary Supervisor or to quest Inactive Status Revised 1107 RE-2060 Req for Chnge Status RTA Print: TNHH FP Unit A : Page 1 of 2 TNHH FP Unit A . : weichertprofessionals.com | For more information on this Bal Harbour Condo, please Click Here. ! \ vt | peewee | Badeoue souee en eee Please contact us today for more information! (305) 704-3699 Professional-Partners i i ht Thank you for reviewing The New Harbour House. To speak with a Bal Harbour Condo specialist right now, TOLL FREE, Ctick Below: : ADMIN? ISTRAT WE EXHIBIT http://weichertprofessionals.com/website/printing/print _page.asp?domain=weichertprofess.... 1/28/2008 Print: TNHH FP Unit A mod Page 1 of 2 TNHH FP Unit A mod weichertprofessionals.com . | : For more information on this Bal Harbour Condo, please Click Here. i ie Se, MRE ent 6 cosmetic eeeeeeememnesceemenen ee Please contact us today for more information! (305) 704-3699 | Professional Partners Thank you for reviewing The New Harbour House, To speak with a Bal Harbour Condo specialist right now, TOLL FREE, Click Below: . | : i | | ADMINISTRATIVE COMPLAINT, EXHIBIT #4 PAGE ae nit poe 1 | http://weichertprofessionals.com/website/printing/print _page.asp?domain=weichertprofess.... 1/28/2008 rrint: INHH fP Unit A mod Page | of 2 TNHH FP Unit A mod weichertprofessionals.com i For more information on this Bal Harbour Condo, please Click Here. Wy peta I BARBOCR wowee 1 - ! 9 ceseeeerene eee neeniie arcreeeeemesnecrwemmmmmnnmrmenengue wine Please contact us today for more information! (305) 704-3699 Professional Partners . | i Thank you for reviewing The New Harbour House. To speak with a Bal Harbour Condo specialist right : now, TOLL FREE, Click Below: ! \ ADMINISTRATIVE COMPLAINT. i i Se |S Exhibit http://weichertprofessionals.com/website/printing/print _page.asp?domain=weichertprofess.... 1/28/2008 Print: TNHH FP Unit A mod2 Page | of 2 TNHH FP Unit A mod2 ; weichertprofessionals. com i For more information on this Bal Harbour Condo, please Click Here. core treks testes Se, crue tse ute 1 SOE af tere oad AST af, Please contact us today for more information! (305) 704-3699 Professional Partners Thank you for reviewing The New Harbour House. To speak with a Bal Harbour Condo specialist right now, TOLL FREE, Click Below: : : . Exhibit http: /Iweichertprofessionals. com/website/printing/print_page. asp?domain=weichertprofess... 1/28/2008 Print: TNHH EP Unit B | Page L of 2 ; | : TNHH FP Unit B weichertprofessionals.com For more information on this Bal Harbour Condo, please Click Here. Bm! swistem | RAEPSUE HOE: “ ca | | | | ' Please contact us today for more information! | : (305) 704-3699 i | j | i | Professional Partners | | Thank you for reviewing The New Harbour House. To speak with a Bal Harbour Condo specialist right now, TOLL FREE, Click Below: ' | i i 1 i OMPLAINT. | ve http://weichertprofessionals.com/website/printing/print _ page aspdomain-wEWbqrote T3008 Print: LNHH FP Unit B mod Page 1 of 2. i i t TNHH FP Unit B mod weichertprofessionals.com 1 i For more information on this Bal Harbour Condo, please Click Here. ‘see ate BARBOVE Medes . " Re Permeonieg mie, | een nes Please contact us today for more information! (305) 704-3699 http://weichertprofessionals.com/website/printing/print _page.asp?domain=weichertprofess... 1/28/2008 i : Print: TNHH FP Unit C Page 1 of 2 TNHH FP Unit C weichertprofessionals.com i For more information on this Bal Harbour Condo, please Click Here. : ! abs BARGE TOG? ee mere RET RAN Uren T3114 Thee, Th SOR. SAR AE DSS SF ert, Please contact.us today for more information! (305) 704-3699 t i i i _ Mita mat vats, , | Professional Partners 1 Thank you for reviewing The New Harbour House. To speak with a Bal Harbour Condo specialist right | | I now, TOLL FREE, Click Below: : ; i ADMINISTRATIVE COMPLAINT. { EXMIBIT. Ff. o exhib http://weichertprofessionals.com/website/printing/print _page.asp?domain=weichertprofess.... 1/28/2008 rrint: LNHH Ev Unit D Page | of 2 TNHH FP Unit D weichertprofessionals.com | For more information on this Bal Harbour Condo, please Click Here. pc teene HAkEOUK HOdHE Sih smears, we tal balcony alt. wer Eres Please contact us today for more information! (305) 704-3699 | j 1 { i i | | | Professic nal Partners | Thank you for reviewing The New Harbour House. To speak with.a Bai Harbour if Condo specialist right now, TOLL FREE, Click Below: i i i \ VMUNISTRATIVE COMPLAINT. mevioit oY. a | SO Pace 8 OF “on http://weichertprofessionals.com/website/printing/print . page.asp?domain=weichertprofess... 1/28/2008 SUH=12-2007(TUE) 14332 Pomlvora HARBOUR HOUSE, A CONDOMINIUS ORAL, REPRESENTATIONS CANNOT BE RELIED:UPON AS CORRECTLY STATING THE f TATIONS OF THE DEVELOPER "FOR CORRECT. REPRESENTATIONS, REFERENCE: SHOULD BE MADE 10 [THIS CONTRACT AND-THE DOCUMENTS REQUIRED BY SECTION 710.503, FLORIOA STATUTES, TO BE.FURNISHED ‘ADEVELOPER + TOA BUVER OR Lessee. oe as i ANY PAYMENT 1N EXCESS OF 10 PEI CLOSING FU ‘Sole agrees to saf (onthe tanas and candtions contained in i IBOUR HOUSE, A CONCOMINIUM (hd ‘Condominivm’). Tre Stik and he Condorshium are descr I gear del it Wis Aqroomenl and the proposed of Condominium, (the “Decizration") {nciuded la the Prospectus end atached eihits (Ihe “Condominium Decumints": .Bujer acknowledges eit ft Condominium Dacunens and ef docuncits ried by Sacion 718.50, Fai Stes faa umishad by a ‘evelopar ia a buyer, an at before the dato of tis Agreement: The foregoing staoment shal nat, owed, be nf of he exetution of Recalpt for Condominium Occuments: ~ = H ‘The oa pce pa te tw Unktns 33 F OO wo-Pitrase Per ‘The Purchase Price also Incides the exclusiva usa of ona (1) pang space to be fscaled in the Common EEiments ofthe Condombum Proprio wit he ST Pahng Eaten Ave, At coin, Buje il cid an aagnmnadof { the excite rig ta use suc paring spcoe,vihich, onoé ogsignad, shall be an appurenance tothe Uni The desgnaiod i ‘Shove shal be selected by Saler ors designee, in issoledcelon. ! : 2. Payment of ine Purchase Price, Suyor agrees 1o make the folowing poyments agalnst te Purcese Price: aren Ginamatet GO 5 133 p90. Balance of nfal 10% Depost =|, “4 __ Addtional Deposit _ . MftHJow 135 890 Balance losing : 8, MZ 0 heat wf elo tem the datas unl th date reclves asd eared by Seber. Buyer also abrees lo pay ah Gots ad oer ‘sums required to be oald by Buyer inthis Agreement, ‘A the pront Bo, to ost fr wiih dal amounts mre. @ 322-96). 3a 10% Dovelopment Fee Taare GO " ed ws. 162. : : Intel Conttuton to the. Condom, Associgign in .an amend : eral loo nes re monly aseoesia aroun | “hase charges ere subject to changa as proxi in Sooo 13 of ths Agreemant and ova explains more data in ‘hot Section, a6 are other cosls which canuzot be'compuled at this Ume, . . a * - : Ly ‘ 4 ! ‘THE UNIT HAS BEEN PREVIOUSLY OCCUPIED. At casing, tha Unit shi be conveyed: (INITIAL ONLY ONE) 4 roe and caar ofa lanancles and possessary rights, and.as-such, Soller shall convey ; exclusive possésslor ofthe Unk at closing oF —— im thee te era ca seis aN. ‘be retained by Sellar. De i oi Ye to the sae ae al pts bo toe Coa en Ihe tease grees that ‘THE UNIT 5 SUBJECT TO’ALEASE (OR SUBLEASE]. ° : . Hove Buyer Pais, Buyer eran pu aout Buyer wl be oblate i py “al ‘hs Agreement and Beers Spoons tar fis Agee pucase fe Ul vl nl deen 4 ules for or objains a menkgage fom any fender. Buyer wil be solely responsible for making. Buye arongoments, Soller agrees, howaver, ka cooparate wit any lender Buyer choosas and tn cnortnale closing cash” om the purchase ofthe ink, - ‘though Sele does not heve toda wo, i Salle aigues o delay closing unl Buyer's lendar is read, oF to wal for funding fram Buyer's lender unl efter closing, W 2ccnat a potion of the surts due at closing fa the form ofa personal check, Sele origina , clearance}. This lalé funding charge may be estimated and charged bj Sefer al closing’ Solars estimate Ghsing based on acuel nding and clearance dates upon elierSelerscxGuye's wit reqiesl The stevie {contin tobe etiecive afer] closing, : 4 ‘Deposits. Except 8s permitted below or by ty th print orders . erosts wl be held eseow ty Chicago Tie intrats Coipny (ssi. Agent, wit offices at 2705 Pumpano Beach, Forde 3006, n.eccordance wih th escrow. agraament cananad Inthe Condomiaunt escrow agreement is incorporated ino this Agreement a lf repeated al gh hove, andl uy agrees ‘hat the depostis may be held in any depository nea he err of Bo At eo. ut natn rca rt charlored and {ecated out of tha Stata of Florida, exe apes alt Bers deze ne le nn 10H) a De Pua Pie my {ot constuction and development purposes as permited by tae, In dlon to the foregoing, tt Soler has abt approval of the Director of the Ohision of Flordda Lend Sales, Copdominums and Mobile Homes to Assurances", 5 parted by ie, nf of old dace pan pre (10%) of a Parnas ricoh cause the Escrow Agant to csburse such deposls to for alwsesperied by law. I Sele has obtained Such approval the date ofthis Agreement, copy ofthe Escrow Agrwaméat gravdng tha iechanlom forssuch disbursement pat been delivered ta Buyer. # such approve fs obteined after the date of tis Agreement, Buyer wil be provided with w cont of thn Escrow ‘Agrosinen, bul Buyer eqrees that K shal not be deemed a mateal or adverse change in te offering of tie Gondomiciem by oss fo fc a Buyers ey agrond ote ut of Buje’ pea oe pra (1) fb reese Price i the manmer stated above, - i 1 Buyer so requests, Bupa tae x Sets sept to Eon for may ctisnge escrow agents (2s long aa"lhe new esorow eet is-cutjoizod fo be: an eccrow agent under applicable Foeda tw), tx which Sn So et ad te ao ote ee al Seller's At dosing, ef daposts not y disbursed to Sell wl be released n'Sefor. Except whore exptassly provided previously herein to the contrary oF otherwise cequired by law, pl interest earned on Buyer's deposits shall accrge solely to the benefit of Seller. interast-shall not be craditad, agalnet the Purchage Price of'tha Unit. Buyer farther stands end agrees thal lo the exert tal Geposit monies are used:for constuction “andor developmen'-purposes,, sald monies sre not Seroime , oe ADMINISTRATIVE COMPLAINT. EXHIBIT a JUW=12-2007 UE) 1433 [ p.go3vdta “renovation andfor conversion of the Condominium. Buyer agrees that any tender advancing funds for Slior’s usa in connection “slacta, In Sells, sola and absolute ctecretion, not to inchida ni “glass windsivs, anclor vollbfe tor investment and accurdiigly no interest stietl be eamed or deomes f0 be earned {even if Seller indirectly benefits frofn the use of said funds}. Noes wb esi tb end, unas ft ai sue ae bested ap Interest beating account and do fn fact earn interest, 5. Sela” Foaneina. Sales may bortow money tom lenders forthe acquis, dexeopme fons vith the Condamintum wf have a prior morgage on the Unf and the Condoriahun ut closing. -Atcosing, ‘he than applicable mortgages to be released and may tise Buyer's closing prooesds for such purpose, 2 Neer sareenen nope pane of eas, lg Be ay en ran set Uk Coenen a ne ope the Condominium is being created. Withaut limiting te general of tha foregokig, Buyer's cihls under this fareemer ‘itbe evordal bt morgen adalat made o ase wotgges)afecieg bo Unt bo C Cont te el oper pa Cdn Bag ea) ase meer x me reared ate be dt it pat sine palin ‘his Agesrbentby- a date era choweiver,onkj ‘WW delays. caused by matiers which -are-le ‘he bug fs being erocted (te “Outside Date’). -Agreamant, Selior shall have the tight, In Sellars wole discretion, to cancel ths Ag ; to be refunded in the event that Sallar does not enter Info binding contracts to eel at lene ninety perd Retidantial Unis in tie Condominium. Soller must, however, rece a So a hevecutes sel forth bove Cartons and Halas, Notwithstanding hte Unt hasbeen ubstanay comple cf is agraest, pr Gey Sasa case to fone pions (nq Senda! ior io be ese tha Unit: the tntalladon of new ()Klichen and bathroom cabot, (kien applencas, (i) granite coun ihn and babvom sis ed aues, Kanan bebo fs (capo Beteom a fogs and bathyoom tie, and (vl) pant. Buyer undératands and:agraes that other tan the Standard seplances, tuishgs Slings a Yams of persend get cided wit te Un, are tose presnly eo nol new, Notwithstanding anything herein contained to'the contrary, Buyer undbretands and considering: Inchiding new “glass windows andior sliders’ as: part of the Standard: Improve determination has not yet heen made. The determination a6 to whether or rot to Include new “glass! Sllders" as part of the Standard impcavemanta may be made-by Sellar at any time In Sellers 5 discretion, To the extent that-Sollr elects to include new “glats windows andior slidere® as part}of the Standard ‘the cait for same has aiready:beon Included inthe Purchase Price ofthe Unit: To the éxyent that Stier a ‘Standard improvomonts, Seer shal give. Buyor 4 credit at closing against the Purchase Price ofthe Ua equa! to $_____, wien Buyer aecopts 26 fl, flr and adequate adjustment for accep! new “glace windows andlorsidars*, Buyer further understands and agrees that cartaln Lema such asthe folloiing, which may be seen bi Jn Mustrations, ere nol includad with the sale of the Unit (unless Incuded with. the Stendard kmprovemants,or Unit andlor kfanted 23 induded In'an addendum of, Rider to his Agreement signed by. Seer: wal cove accor al shal provide nolca of sams to Buyer {tie “Selection Notice’). Not loter than fourtesn (14) days folowing Ba dale of he Selection Notice, Buyer must submit Buyor's selections ta Sallor in antling.:¥ tesa salactons {i any} aro note Wo Salier in wring sitin the Ue perod stated above; then is agreed and understood that Setar, in Sales sole iscetin, shal ihe: {Hh meke the selecton for Buyer in Selle’s'sole dscreton of (i) deliver the Uni ia ts AS IS condition n wnichfevgnt Buyer shall be given a credit against the purchase price, In fi amount lo be: daterrined by Sellar In is sole discretion J, noWeNEr, that the credt amount shal be the same for each unt of @ pardcular unit type). changes, mad specticatons cid net nave fo be fed wy the govermentat autres ate, Buyer acknawladges and agrees tel the plas and not ‘accuracy of any information eveitable from the governmental euthorites in regard to plans end specications Buyor must frst consult Setlor's ‘copy of the plans and specifications {including ll ‘applicable change ‘Seller's copy being the only ene on which Buyer may aly... fle with applicable ‘current plans and ee ne ce a het ie psy en orders ic appearance cf same, The foregoing s not intended lo prohibit te use ofthe stairwells, garaga, afd wllity pipes for any che lou purpose, Furmer, Byer fereby acknowdges and egress tna sdund: andor odor tension to @ nl-sery bon such os te « fepresentatin or warrenty 8s tothe level of sound endor odor ransmission bebveen and emong Unis wd thafbher portions of te Condominium Property. Lest, Buyer understands ard agrees that there are vésious-metiocs for celeupling the equate footage of a Uni, and thal depending on te meth of calculallon, tha quoted square footage of tha Unit may vpry by mara thas ‘a nominal amount, Accortingly, during the’ pre-clasing napection, Buyer should, armong ather things, relipw the size and ‘dinensions of he Unll, By closing, Buyer shall ba deemed to have conclusively agraed to accapt the size and jions ofthe Unit, regardless of. any variances in the squate fodtege from ‘thal which mey have been disclosed to Buyer at any tine prior to dosing. Without émiing the generally of any ather-provston.of thie Agreement. Seller docs nol make any epresentaton or warranty as to the actual size, dimensions or square foctage.ct healt“ . ry = ADMINIS JUN-12-2007(TUE) 14:35, P.ogsvore com yoetee ppficable in Mlarak fade County; Flat fr similar propery) Sllor wil ba obligated to carect those defects a reasonable period.of fa afar cosiig, bul Seller's obtaliog to'oorrect wil nl ba, grounds far defening the; ‘mgaring any conditon on eiosing. “No-excrows adh be . i ‘vantage ofthe ight to a pre-ciosing inspection en Ine dal and te scheduled, Sollee wll not be cbigated lo reschedule an Inspecton por to dosing and Buyer shel be deemed ta hae acedtes the Ut hits AS-IS conan.” . * yor acknowledges tal all maters peraling tte renovation of tha Unit wil be hendled by Sefer and Sea's | representatives. Buyer agrees not lo lnlerfere wi orintempt any wotkers atthe ska of Ihe Unit. No persona in ons father than'the one pre-cosing inspaction| wll ba peritied. Buyer may nt ordac any work on tie Unit: oer than prepaid apions of» ‘exis that Safer agrees in wg: fo provide, unt fier closing. ‘Buyer recognizes that Seer fs not obligated to-agree to provide extras of options. * arn vos pubic at ‘ature ofthe Improvements to. Unt ls such that the Urit wil requires new catticate-of oorupancy prior 16 We te that the Urit may be lawfully occupied, then: bafre-Séler, ff zequke Buyer to cose, Soller. mus, oblaln lenin permanent ceitficala of ‘cocuparcy for br. covering tre Ucit from tha proper goverment agancy ( ‘pocuipancy ea qe: ofl approve ceeded bolor a ink may be Aver), suet and ornate fhe provsons of Secjons {0 and 24 » Sorts agreement (haut filing tie Generel of those picvislos by his epacilc reference}, tke Cortmon potions of the Condomintsn Property neod noi have certieals of occupancy. nar be completed prevded, however, that : the cericafon of substantial completion described in Secon 7 the Declan a5 écotad, = : : yor wit be gan alee tn 10}. day notion ate dela ts a pace a osng exc to ev ha Byars lender, i any, requires casing 10 bo held‘on lss.than len (10) days nai, in which event, Buyer shell cése upon demand of Buyer’ lander, Seller ls authorized to poslpone ths ting for any reason end Buyer wil cose.on the nev dato| lin and place formal notles of closing, or may bé given by Selier oraly, by telephone, I. ‘mail oF her reasonable maans of communication et Golr’s'aption. Al of these notices wil be sent. tothe address, (oF glven by use of the Trictmatin specified on Page 1 af this Agreement unless Soler has received witlon nly fort Buyer of ‘ny change prio o the data the noice is glen. Thede nolices wil be eflacive on the dato chen or mates (as. An _ affdavit of one of Seller's employees or agents stating that hig nace was given or maid willbe conclusiva. | After the ndtloe fs. given or malled, and # eequeéted in Whig by Buyer, Seer wil send writen ifemation of the losing, 1ogethar wire daft castig statement snd. olher pekitent informaton an instructs, ‘This wel confirmation fs ‘ven merely es & courtesy and fs not te formal golce ts close. (Accordingly, i does not need 10 be recelvet y any particu, dale porto cating. Buyer agrees, however, foo a insructians given in any tommal noice and ween conf tauyee fatto tose ey of tase nian or te confimatton because Buyer fed a viso Sal ‘any shange of adress ot phone, elacopy-or telex number, because Buyer Fas fied topic up a feltar when Buyer hag been adused of an atlesipied delivery or because ol-any other reason, Buyer. wil nit be roleved of Buyer's obigalionto-cose of the. scheduled dosing dala unless. Seller agrees In writing ta postpone the scheduled dato.” _ ° ° {t Sater agroes i wong fo reschedule casing al Buyars request, or! Buyer fs @ coporston or otior entity. and Buyer fats to produce the necesgery documentation Sollor raquosts and, ae a resut, closing te delayed, oF I closing if delayed for any_ daared), desired, requested or caused by Soller, alt prorallonsi-i be.made titderstands that Seller fs not required to reschedule bata permit delay closing at Buyar's request, |’ om JUN-1e-CUUEL UE) 14: 3b 006/014 12 Gosing, The tam els ren oe ie when Sey dtr da i ‘ownership changas hands. Buyer's ownership (sTeferced tp as "ite, ‘Seller promises that the fite Buyer will ‘ull be good, marketable and insurable (subject fo the pernitied exceptions sled: or rafared t6, below}. . Ban cated ayaa hr eto even al ier ns bn rane Prt Price, Buyer Bayer wt tect Wo (} documents a csng ion yer agrees lo ciel a pu hl Byers te is as Tepresented above: ‘company icensad lh Florida agreeing 0 ‘save a poy Insirag Mle ort pol. sll. hid comment (or gol wary xp oe Permited exceptions arceptons whlch Buyer ecto} ae: (al i ana rt so Sc oe co tes i} Uy os oasis ry Unt sine te ene hes fs a condnulrg therester; At Laws, and ol restr’, , conditions, iitations, agreements, ond easements naw or hereof in the publ records, which may Ince, ‘ithout amitalon, zoning testicéons, property use imiutlons end obiigatons, “aasements (ghts-of-way) and ‘agreements relaing to ebephione Snes, wala and sawer ines and other ues; . (i]_~ Resttatons, covenants, condans, casement, toms and otter provislons Jmposed by the ‘documents contained of refered fo inthe Condominium Documents (and any piher documents whic Sete, i its sla aon, balavas fo ba neceasry or appiopriaa) when ae recorded, wo at any ate te dt a is Agree fe pubes; M)—Restictons, sarees cnot esei, em and char prodsorsInpoted by Re i . + Enisiig Enoumbrgnca . eos co a san i Ao ead at Bs cg eb ams ‘of atease, than tile shall be subjoat ta the rights of tha tenant thersundey wa Ra ofgs eget ect ent ei nd pits an ove = (1) Pending goverment Kens for publ puxposae as of dosing (Seber wi ‘only he rasponsibe for those payments endior instalments due prior to casing, aad Buyer Nereby estumes el peyments endo slants cag di alter csi . (i) A sanderd printed survey exceptions cantalned In an’ALTA Owner's te policy issued jn Miami-Dade County, Flatids (the ‘gap. exceptions' and slandard exceplaps for partes in : possession, nd consti fons shale deg however, el clasing or insurad over ‘ a Saat ex waif pity ml ry at pot whoo in navigable waters aril al other standard exceptions for similar property; and “(Any matters net sted above as long a8 affadve te insurance is glven for theo maters and ‘same do not render tile inmarkelsbic or uninsurebla.. (©) "Spec Worranty ed. A closing, Sal rome to give Buyer special weeny deed fo the Unt. The ‘Spacial warrenty deed wil be subject io (that, contain exceptions for) al ofthe maters above. yor wl seo racava at losing a ilo sale ar eny aptences Inked in tho Uni, Sete for of C70 Hen") dev cong saan, ARPTA (nondon eget and on axslgnet oho excuve uie of He pang epeel) described tn Section 1 of tis Agreement, When Buyer révelves the apectal warrshty deed at clasing, Buyey wil sign Seller's hosing agreement, a settlement statement and all papers. tual Sefer deems reasonably necessary of appropriate for ‘ransactons ofthis nature, . JUK-12-2007(TUE) 1636 vay # . applicable. ‘agent acl es Yoen" casing agent ax wal, Buyor agrees 1 Solr cannot provide te qualy of Be deerbed above, Sor wil ave reasonable period of time [ (60) days) fo correct any detects n ite. I Seller cannot, afer mating reasonable efforts to do so (which sill binge ees or ayn osteo cry a ns] ec e ees ‘options: a super can ae i cto aif ec) a pay te fe et xan bh anal feenare Be pct wary da tm ‘rot make any csime agalist Sdler becalie ofthe defects; or * ext can cnc is An nd eee wed Baerga. reeved ol lloblgatnts unde bs Aes an tic} wig So nds th sts ye. ‘Al the same fina Guyer cecsves th epoca warany deed, Buyer. agieeso pay the balance of he ‘end any adaitionst emourlls owed under this Agreément. Setar he. ago fo eco see a ‘Seatton 2 above. Url all sums have-baon racelved end cleared): Seller be enfitéd to a vendor's fen on ‘Guyer agrees Sellr may untaleray evar! in tha Puble Recas Sha County), This Secon shat surve desing 12 Addional Cos's and Develapmint Feo. er artaris and agrees ta, natn lie Purchaso Buye Frcs or me Uni, Eyer mus pay cero oe es. ov rors en He Wo dale Ber a sig Thése 2) A.*davelopmént fee equal. to one and soven tnt poe (1708 he Pcs So et ee nye carwaying the, Unt to. Buyer ee 2 ~consideraton}, and (0) the premium of he owner's tte the + documantry slarptax rales or the minim Pik Wo Insufance premiime, sibsaquent 16 ‘or ir the event af tha Imposition of eny auilax oF surchatge or-any new: govet cae on dats canvas Cue aes py sch sess stn actos ‘x charges, in wstion tothe development fee: tag C) Ang talon sr lo ey Sen Candie Acai, wt cars ayaa ety be Ase rok This contrbullon wil not be erediled agalat regular azsessments. Arsuming'ne ch reguiat sesame Ge Un a cpae wl bet i Snout stomn a ~-agfesment, This. charge may cisngg; however, tha applicable monthly assessments “dasing,’as provided:In Section. $7: below. Pri (0 thé Guarantee Expiration Date, tha: "Yaak ay sh ig ct cpl contbutons payable to: the’ Condoiintum Solr may have advanced prior lz closing forthe Unit. The smount ef these fe now (—Afeimbursement to Sale for ony i cable of itoractva commincston deposts — hick @ The roan babs ano ay are prs upgrig of sad es ‘eluded, sn the Unitas eqreed t in wing by both Buyer end wl ‘oF new taxes Init capita I the current shal nol be Caton ta the" ° 1, or to be, (e}__Relmbursement o Sella, andor Safle’s closing agents, ty nist cnn cng lasing win Buyer ander Bayar’ Ind, expenses, long + slance Ileptone eas, phtoconyag expences, ‘sezpytg dogs and ober unt of these aes row iawn (0. The tate funding charges provided fr elsewhere In tis Agreement ‘he sna i eps on ‘unknows, dlsag egant an prep sum nua $78. 0, P.ogT7ore JUN 12-2007 (TUE) 14:37 . -goe/ora tne ers egal urbe Ateoment, cnc anbget ny moran he Bye ‘Buyer cblaining 2 joan to finance srt tanraon rae ate eae 9 SI a . actual fax bf avaible, osama Se W not evalale, wih Buyer responsi for psying the ul aroha oft tax ‘it and Seller reimbursing Buyer for Selle’s procetad share; of those taxes, ° Buyot agrees that Seller's prorated snare ofthe ror due fen tao ol be pt Boye, howe, nl te ac ax preseied wo Sele, and poctan based on an esbimala ofthe citrent yea”'s taxas ahafi be subject fo reparation upon request bt either party, that (f the gout amount of tarde 1s af least 10% higher or ower than the estimate used for prorétions, andi) come reprocaion is made wiin six {6} month folowing the 'suarce ofthe actual tax bl for the Unt (t being ‘it tb srr fen torent pv ofa a reat “orth sbove or mada bayand the. sbx(6) month period shall be-valid’ar enforcaaile. i adtton, Buyer shally for eeimbursa "Sete ten pl, ayn repay sce geer sv sos nyse ees rine autor hang usccon oer he Unt, Thi Subsacton sal sure cardavets be elective afer} 4 usinaia wisn Aasitton yor undaretands that Sale may advance teney lo te _parml i to pay for certain of Hs, expenses {for example, but ‘without timitalion, insurence premiums; comsmon ‘andlor dable or other Interactive communicaion-charges end deposits, perrnit and ficense fees, charges for se mM ‘salaries Of employeas of the Association and-other similar expensas). Sailer 's eniiéd to be reimbursed by the ‘al ofthese sums advanced by Sellar. The Astoctation wil teknturse Sel out of kltal contibutons and regulr|asseesments paid by Buyer and other oumers 25 those contibutons and assessments arg collcied, or as otterwise rend Sele also, atts election, may feceve reimbursement oh these paymenis by ivay of 2 cred against any suit ay be bigated to pay ta Asscaon No lel cote of purchasers Aeon maybe sed fo ‘however, as long as any guaranty by Seller of such Association's assessments sk eflact. 15° Dela Buyer fos to peat any of Buye’sobigalonander-tis Agremant( scheduled deposits and’ cther payments) Guyer iba ata 1 yer sn deta on 10) ya - Buyer notice thoraof, Settat shal ba entiled to the remodies proiided herein. If, however, Buyer's tla In falling to'close on ths scheduled date, tien Selle can ance! thé Agreomact without ‘giving uyer any Prior Ge subsequent notifeation o¢ opportunity o close alter date, pan’ says nl fa sie 0 5 tape: ka hee “end and Sollar can tésatt tha Unit for.a higher r-fower prite oul any accanting o Buyer, ‘Buyer “Soler has taken the Unt of tha markal for Buyer, has spent money on sales. yorising, promotion, dad rejoyston ‘and has ach ‘upgrades and the Wis] Guyer has then made (and which and all Interest which was, br woud have beén; eamed of them, alas iquidatedt damages (end aot a a. paca) sole and excuslve remedy. Buyer and Seler’agrao to this. borauss thera is no other precise mathod of ce damages fy sane rb at rs Cnn Posty wa er Et wt ot ‘iquidatad damages. 1 ele tots nde i een yer See wn (1 a fen oa Sear mated Be default within such period, “Guyer wil. nave such rights. 6s may be avaiable in equity “andfar undef, it ‘competion to exlend soller's completon obtain In a mannet.wnic would Ne pemted Heererpten cf es the lnarstate ‘Land Sales Fut Disclosure Act purswont to $5+.S.C. 6 1702(0}(2} i tm apply. . ot ‘The provisions of this Section 15 wil survve (continue to be effective after} closing. 8 Liston. nh vi a yg asi pated under Aree, he reefing pt sha 'be ented Iq raasonablo afomiajs’, aeralegels' and pare-proleasicnalsfees and court cos at all via end ajdt levels. In. oud in bo evel oly Wonioe betwoen the partes under this Agreement. the partes shall end hereby submit to te Jurisdiction ofthe stata and fodere! courts ofthe Stale oLFloridsand (i) venwe shal be las exclusively in iprs-Dade County, Florida, ‘This wl uni nt be ech afer any eden of is Apes tt ‘otherwise be deemed merged into the deed at closing. fo 17. Momténanea Fea yer unison eto ha tio Ete Opratg uly ‘Associaton (the “Budger} contained Is thé Condomuumn Docurtanis provides, only 2 estiate-ot what tll cost nn Associaton during the petiod of a stated inthe Budget. The monthly assessments for tie Unit are quacantaed, iat afc the manror slated in tke-Cardominium Documents. The. Budget owever: 33 opposed fo'tMe levels ‘of assessments bb te Association, is not guaranteed fa accurately predict actual expendiiuras.. Changes in the Budgél may be, cat eny ime fo. cover increases or deoraasas in Sclial expentas arf estates, fs olonded thal the Sele, as the sola Uri Ovnear upon the ‘omar ae Conair. wl lel pre ay enres fr tell yea eA iTHeteater, on an basts, ‘malay of the Assoctalon's members fyien may: “incluge'the Developer during the secand figeal year of the ay Wate to conte not Gt pons a sts Hcg years. 4 an lec sin Kdlface fe wah Aaveoment we reserves, the assessmonts per unit payable to the ASsoctation wl.be a9 sel forth in the Esimatod Operdling: “assesements per (lt = WWiout Reserves". If na such election is mada. the assessments per Unit payebo ts wil be as set fort in the Estiraiad Operating Budge as “Assesaments per Unit WA Reserves". ‘Budget as ‘Association ‘Gonvemioiym Associaton.” This Agreainent Is aso Buyers epplicaion for membership in bie Aetna ada eet a es, At ie, Besse acer a tintin 19. Sellars Use of the Condominium Property. So se eunarduen no 10nd ‘Sales Commissions, ante pa eect n't ium nt eis exclusive, Ising agent nd hearer fy nod nf pge of is Aeomet lsc ape ah an, eal nen al Soleo aes py ey e-bokr ad al Bs oes hl ee no co-brand y, rege under Buyer! nmvided that such co-bmier has pronerly regislered with Seller as @ Participating co-broker: signing this ‘Agreemert, Buyer ls representing and warranting to Sellar that Buyer has not conewied or dealt with any broke] salesperson, -agenl of Srder otter than Selle’s seles personnal (andthe co-broker, I any, named on the ks! page af his Aag os has the sale been procured by any rea) estate broker, salesperson, agent or fries other than Salers sas (Gd tha co- ‘broker, if eng, named on he fest page of his Agreement. aio anh Sterna oe any such persin o° company calming otherwise. Buyer's ndarnaly and-egreement to hold Seller harmless includes, woul trataton, ‘and-any termination of thls Agreement, 21. Noloss. Whenever Guyer ie equbied or dasites fo gue nica to Sele, ons id eyo ‘must be sent certied mail, postage prepeld, wih a telurd raclpt requested Wo Salt af 2828 Cora! Way, PI Sut, Vem, Florida 33445, Att: Harbour ote Poet Nonezs uh oe adres a Selo may hese ct s : for Buyer sel forth on Page ofthis Agreement. change of ads on ote wen lated ty Seber. Ntother witien notices ate on the day hey are properly delivered or mafied, whether oF not received (and all permitted non- writen ma a effective on ‘to dala given by Sater) unless raceio is requlred specitclly in portions ofthis Agreertent, 22, Teansler or Assaiment..Buyer sha na banded wo anti Agremant x ks its lender winout {he prior witlen consent of Solr, whlch may bo wittiold by Soler wth or witout cause (and even i Seller's fphusal to grant ‘consent Is unreasonabie), To the exient tat Sellar cones to 'aiy such assignmont; sad consent may be & any rmanmer wfatsoaver, Inctuding, wihout tmtadan, charging an assignment or wansfer fee, Any such assignee must fuly assume sll cigs of Soyer tb in eee es unl arta ca eta ir ‘corporation or resulting | 16 Sie Agreament 3s Buyer eech uth bo equal take. ov a fen ard several bast fh Pertormance of all % duties and oats ude Ares Ser can eee Aas opt eer axils wr eae. Agreement i 7 ® . 0 cote __2_[on 1k ADMINISTR, EXHIBIT ; SON=12-2007T(TUE) 14:38 P.o1ovord Public Recorts. fur autaes Seer beard te cents ended 1 ash fd oi ha Condarinaan 26 “Bharat one docutris whic Soler dees nares of appropriate. In the Public of Milam Onde County, Flatida. Hero er ere Pro Po, ay ba racorded= by the Buyer. DATE OF RECEIPT FROM THE DEVELOPER OF ANY A i OFFERING IA HARKER THAT 16 ADVERSE TO THE BUYER: “ANY. PURPORTED WAIVER OF THES VOIDABILITY RIGHTS SHALL BE OF NO EFFECT. BUYER MAY EXTEND THE TIME FOR CLOSING FOR A PERIOD GF NOT: MORE THM 5 DAYS AFTER THE BOER HAS RESVED-ALL OF THE ELS REOUURED, BUYER'S RIGHT 70 VOID THIS AGREEMENT SHALL TERIENATE AT CLOSE. tallies this Agreement end the Condominium Qocuments-and Buyer agrees that the protons are far Buyers opiton, 2. Potia Lin, Srey. aa Lan ees, Any dpe al deen under is settled acouring fo Florida law, Uf any parl of tis Agresmant voites a provsion of apiicable Law, the control. tn uch tase, nowever, te rest ofthe Agreement (natin olen) wi emela in farce, seg ea rey on an, a ma nn of ng ng Sater crounstances shal a Sas uf at gre ca of certain language in bis Agréement (otiet than language which is intended spéeifeat to cradle such a cancellation dgh ‘The following sentonce wit supersede and tako pracadénce var anything clue‘ this agreement whichis fn -< ‘conflict with it: if ny provisions serve to Hl or qually See's substantial coripltion ctlanion 3 7, Buyors remo Ia the overt that such-obligation is breached, or grant Salle an enparmsiaio Such limitations or-qualiications are not.parmiited tthe exemption of. tis. 4 ns iain td Sales Fe Biacosue Aa purse fo TSU 7UGGIC sto aol Ue Agreomert to thea he Ry al those provisions are heraby stricken and made nuflayd vold ae if nevora part oF this Agreenient: Fir purposes of this paragraph oniy, the words “this \greemant” Include in thelr meaning the condominium documents. 27. Changes. Setter may make changes in the Condominurn Cocumonts fais sole dstreton by providing Buyer wth all such aniendmends that ara vate, ped ft. o these cange, Guyer wl have Fr days fom ho ‘daa of receipt of such changes from Sater which materially alter or moitly the offering ofthe Candomntum in a anner adverse to Bet whch cone Bl Agree (yen wen ten Ser af ich cneaalon) and doposts with sppfcabie inerest eamed, i-any. Sefer wil bs colavad of all obligations under this ‘funds the deposits and interest eamed, i any. Buyer wil not be permitad 1 prevent Sefer from making any dhange it wishes ‘nis sole discretion, nor lo pursus any remady other than the-16-day canceballon remedy. described above (and fhen aniy fo the "of cvngoa thal material atl cx mody Boeri amr tat adverse ta Buyer. {f Buyer has te right to cancel this Agreement by reason of a change which materially alles or Iné ofering the Condominium in'a manner adverse to Buyer, Buyars laurel in iequest cancellation in wring wihin tne S-day period wil ‘mean.tal Buyer ecoapts the change and wavs irempenbly Buyer's righ sof cancal. A gts of it terminate, ‘ol sooner, ten absoltay at casing, Afer closing Buyer wil have no Temedi for any changes Saller may miake ec have made, ‘Witoutnitng the generally of ta foregcing and ober povilons of thls Agreement, Seller is speitcely authorized "te: ()substut th fal lagaldescrplons end e-bull surveys fort proposed legal descrip, and pl pln conned in the Condominium Dacumants, andr () combine andlor eubdlvida units priot tothe tecardation of the jon, fand incarporeie dider wal Common aiaments into sny such;combinalion unilsor add common element divider vals In any’ such _subdhslon, provided that lh percentage share of ownership of comynon elamonts of ary wnt nol affected in tit combination or ‘subdivision Is nol affactad. Be effective after cosing, ‘The provisions ofthis Sectton 27 wit survive (coi ‘5 of absolute importance and-falure by Buyer. so ptfom. ome 1, me being af te as to Buyer's 28 Time of Egsence. ‘ne poemancoo albgsions by fuer op ne ee mes Fata this Agreement el obligations hereunder. ~~ sweatin = Ne a cd Negrby Activites end Views. y citurbed by the noise, commotion and olhor unpleasant efects of nearby construction actly end Buyer may be impaded In tusing potions ofthe Condominium Property by that dely, Because the Caridainivm ls located fh an urben ee, demoion ‘rising out of any clsim again the Sele of Sefe's Affiates related’ to Views or the disruption, notte, ‘unpleasan! affects of nesrby developnient ar construcfion.As'd result af te foregoing: there ls no quare 3 Nature of Construction, Disclamer of implied Warranliss, Buyer's independent tnepection of te Unit and the Gondocainlum ae welt as the conversion Inspection - lathe Prospectus, Buyer has not receleed nor relied on any warranties andlor representations from Sellar of any Kind, thas than as expressly provided herein. : ‘As to any implied woréanty whieh cannot be. disclaimed entirely, all.eecondary, lacldontal and consoquontlal ” damagus.are specifically excluded and dlactelmed (claims for such secondary, rickdental end consequential damages boeing clearly unavalablo in tha case of kmpllad warraniles which are dlectalmed antirely above), yor asknowledgas and agreas that Sller does net gunrates, wairant of otbarwze assure] and expressly disctalms, any tight to view andioe natural Nght, . Further, given the climate and humid conditions fa/South Biorlda, molds, milidew, spores, fungl andlor other toxins may exist andior develop within the Unit andlor the Condominium Property. Buyer is hereby that certain molds, mildew, spores, fungl andior other toxins ray be, oF H-allowed to romigin for a suficent toxle and potantlaly pasa 4 heath riek By executing: and dolivastig this Agreemot and closing, deomed to have assumed the risks associated with, molds; mildew, sporas,fung! andfor other | and to have | released and Indemnified Seller and Seller's Afflites from ‘and.agalnst any and all iabllty or. claims resuting trom same, Including, without limttzticn,.any liability for,Inéldental or consequentiat damages {which may tesutt trom, ‘without fitaton, the Inablty to possess the Unit, Inconventence, moving casts, hota! costs, storage cabts, loss of fimo, lost wages, last opportunities andior persanal injury and death to or suffered by any-of Buyer's, ‘as defined below and any ather person or any pets). Without limiting the generality of the foregoing, leaks, exterior doors. ‘or windows open, wel flooring and moisture. will contributa to tha growth.of mold, midew, fungus ‘understands and agroes that Selle fs not respansibie for, and Seller fieraby disctalms any responsibilty for any fines, or ailergle reactions whlch may be experianced by Buyer ts pets; its familly members andlor His or their buaats, tenanta anid invitees {calloctively "Buyer's Guests"Jas a result of eveld, mildels, fungus or spores. it is solply the Buyer's responsiblitty to keop the Unit cloan, dry, weir-venttiated and froa of Contamination. - Buyer warrants that Buyer has not relfed upon any verbal representations, advertising, po other than as expressly contained hereln and Inthe Condominium Documents, ‘as amended. fram the tote, inciuding, apectleally, but wthout Uiitatfon, any raprasoctations as to: fa) the axfetanca of any “vlow" from the Unit or ‘thal any existing 2 obstructed in the fubuee, fb} traffic condiflans in; near or around the Condominium, {6) disturhance from nasrhy properties, of (4) dlaturbance from alr or vehleutar traffic, The provisions of his Secon 30 laure (cont io be ofa tr osng, 31. Roprasentafons and Confimations, Buyer shoud iad whera lcicated lo evidence Ks agreement fo each a: Suyer ucknosledgés, warrants, represents ond ages that this 's being : entered into by Buyer witout rellance.upon any tepresontations ny poland : “for fubure.proft, ‘any future: eppraciation ‘i vakve, .any rental 18 potential, tax . advantages, depreciation or investment potential end wlhout rellance upon any monetary of Inaneial advantage. y (8, ‘Buyer ucknowiedges and egies Jhehno such representatans, Feprossatalloas t al ‘as ta the ability of wilingt@serbt Sear or its affales to assist Buyer injrenting ot sebing Agrearront, ne nn cane? Agreement and lo dose ob the purchase of the Unit Further, Buyer agrees that nether Satet.nor aay brokerage company, on-ate tales pbrsann! andor ater pros wig by, ho ander Sle, de ny ‘whatsoever 1 aastst Buyer wit any resale of the Unt i @) Buyer warrants. that Buyer tas aot reed upon ‘any vara representins o promises oe other than aa expressly contalned hereit andin the Condomtnkam specifically, resale ave of he Unt The rows ofthis Scion shal sine ong, . fein of Gand Dc ia jeans cod ey eer yer falum to Seller cl he Conese mens flteed Han hr irae sain rata eeu wa est excepiad. UC Buyer fats to ctum the Gandini Secunans, jr ayes fo py Sler $e he of preparation, pining and dlvary of sam, * 3. Suvival Only Uiose provisions and‘diselimars in ‘his Agreement whieh spocticaly sia Bt hy hat favo effect for cosing wil survive (cantiue tobe effeoive ater) closing an delvery ofthe deed. “Al ober provisions shal be deemed merged into the deed, this Agteoment requires Sater fo completa or. iy compete on 34. Substantial Completion, Whenever a tiem of construction, that Rem ail ba understood fo ba completa or substantidly complete when $0 for substantially ‘complete in Stirs apinion. Hetnane oezg howee aller Unio: oul o wi be coset ol complete and useable, 35. Dlsdosures. Untior the ews ofthe Stale of onda; Buyers horaby achised as folows: | {0} RADON GAS: Radon la a natural occuning radioactive gas tal, whan has B nati ls provided In orderta coxnply wh stale law ands for informational purposes ely. | Sallor doss not “ ‘conduct radon testing wth respactlo'lhe Unis or the Condoranirh, and specicaly dt Teresersons wants ufo te shore faa goo ran prehog ‘wth the Condomintsm. . (0) CHAPTER. 558, FLORIDA STATUTES CONTAINS IMPORTANT REQUIREMENTS. YOU. MUST FOLLOW BEFORE YOU MAY BRING ANY'LEGAL ACTION FOR AN ALLEGED CON: -DEFECT IN ‘YOUR UNIT OR IM, SIXTY DAYS BEFORE YOU BRING ANY LEGAL AG YOU MUST OELIVER TO. THE OTHER’ PARTY;:10 -THI 'i& WRITTEN: NOTICE. REFERRING TO ‘CHAPTER 658 OF ANY CONSTRUCTION CONDITIONS YOU ALLEGE ARE OEFECTIVA AND PROVIDE ‘SUCH PERSON THE OPPORTUNITY. TO INSPECT: THE ALLEGED CONSTRUCTIC AND 10 CONSIDER MAKING AN OFFER TO REPAIR OR PAY FOR. THE ALLEGED UCTION OSFECTS, ‘YOU ARE NOT CBLIGATED TO ACGEPT ANY OFFER WHICH MAY BE MADE. THEHE ARE STRICT BEADLINES AND PROCEDURES UNDER THS FLORIDA LAW MHICH MUST BE MET FOLLOWED TOPROTECT YOUR INTERESTS...” (©) BUYER SHOULD NOT RELY ON THE SELLER'S CURRENT PROPERTY TAXES aS TTHE AMOUNT OF POPSETY TAXES THAT THE BUYER Wa DE CHUGATED TO Pet TH TEE JBSEQUENT TO A. CHANGE OF: OWNERSHIP OR PROPERTY Mi TRIGGERS YOU HAVE ANY QUESTIONS ‘CONCERNING’ VALUATION, CONTACT THE COUNTY PROPERTY ABPRRISER'S OFFICE FOR INFORMATION: 36, Lead Pla Pursuit eppeati Sale ay ees Bayo og: greene aa ttt er ay epee nor Sun-Ve-CuuEQruey rasa | Pularuld bala hazards A sk sssessmant or apt fot posh ba-based plat azsds recommended por 1 purchase.” Ser has no nowedge o ed aed pai fad aed pe hazards te Ute be tepors or records pertaining to lead based palo or ioag based paint hazards the Unit or the Euiing, inaving been advised of the loregoing information and fcknowledges having reoeved the pamphlet ‘Lead in your roma.* inasmuch as Buyer s provided wih a fiteen (18) day rescission period pursuant to thelAct, Buyer hereby wes ery conte ear a seen eqn wean oad as ink oF lad based paint bazar, a. ‘Coal Connon. Conte ing Buyét Is avare-Ihal the Unil andlor portons ‘of the Condominium Property may be focaled in coastal areas parlaliy oF totaly, teavierd of the cosstal construction contrat _ 164-653, F.S. Buyer is fuly apprised of the character‘of tie regulalon of property in such coastal areas and Buyer hareby wwalvos and releases any tight fo receive at closing a survey delineating the location of the eoestal ‘control fine with fespecta he Unt ana the Condinum Popa in acstanco wi Secon 181: S7.ES. Seller has no ‘Buyer, ‘otherwise the fim offer shal be considered efacted end tl funds depcalled by Buyer shat be pramply Labi, The ay Sel enh Arana aren, ay eneclod Wcomedith ne Arena a be fal faa nro soy Sates he net of Se sac'nve rer eu yee Sry role eh ‘employees, managers, members of gent}. 40, calmeats. he eplnaloy dirs, cn sn che pero la he Condon Documents era incorporated into thle Agreement asi copéatad at angtn hare. When the words “his Agree’ are used, they il ii not mez ol raza, rs nant sed by Bye a Sle, Buyer thal {he primacy ducement for him of her to purchsse under this Agreement isthe Unt se and nl the rectal amenies and. ‘ther Common Elements. Sellers walver of any of (1 fights oF remedies {which can only occur I Soller wfalves any right at aes take ay eo Sls ae ees ret Sele fo ee ena Star ‘and remedies under other croumstances, 41, ithe Ageement. This Agreements th entra contract fr fale and purchase of ie Unit ad one its signed, 1 ean be amended onfy.by 8 writen Instrument signed by bott.Buyer and: Seler which slates Wal itis ‘amending this Agreement ‘Any caren fp agrerad,Joretetalans, undéraiandtigs or Sal ents of sales Teprasentithres or others, If ot expreseed in this Agreamant, tha Candaminiym Documents or if Hrochuros for the Cndorantu, are veld ae have no afect. Buyer agroce at Buyer hat rotrellgan them, GENERAL INFORMATION: Co-Broker information: (ae Section 26 aioe ithe space tot Goerotaré rane 4 ‘blank, it shall Co-Brokor'e Name: Go-Btoker's Ssies Agent Co-Broker's Address. : Phoria Now =? east Benia Vallsouk. net ** SIGNATURES ARE CONTAINED ON THE FOLLOWING PAGE ** ak ered on ADMINISTRAT XHIBIT ‘ PASE senuan TAP terete Bea cnet me See ANY PAYMENT IN. EXCESS OF 10 PERCENT OF THE PURCHASE PRICE MADE'TO DEVELOPER PRIOR TO CLOSING PURSUANT TO THIS CONTRACT MAY BE USED FOR CONSTRUCTION PURPQSES BY THE DEVELOPER ? ° <7 92 “ARGAHARBOUR HOUSE, LTO, @ [Fipdda feted ipatnership : vun'42 07 11:13a. RAFAEL DEL MONTE 007 305-406-3126) pa co | | Request for Appraisal | ut [Part (= Ra 7 I ——] To (Name & Address of Appraiser): From (Name & Address): ‘Wity/Suyin Stephanie | Access Appraisals ‘MJOP Mortgage Lenders 7334 SW 42nd'St. Miami, Fe 33155 {P) 305-265-5050 (F) 305-266-6060 8491 RW 17TH Streat Suite 113 Miami, FL 33126 : ! (P) 305-408-3333 (F) 305-406-3344 {E-Mail} willyaccéssapp@acl.com oe | Applicant (Name & Address); Tender {fene ‘& Address): Ricardo A Soukl Lender Case No, : 20070514003. | 6674 NW 113 PL WAMU t Doral, FL 33176 | at RUSH (8) 308-891-0212 1 (C}305-332-9831 } | ee by (Signature): Tite: Date: j Senior Lean Processor | 06/12/2007 | if Part It - Property and Marigage information we a Property Type: “| Occupancy Status: Type of Loan: Cien Posifion: toan Purpose! D Detached Primary Residence WW Conventional First Mortgage WJ Purchase Attached Second Home OrHa |C) Second Mortgage {] Cash-Out Ref: GA Condo [fA investment Property. [CVA i {INo Cash-Ont Réfi (pup. -- OUsOA Rural Housing OConstructich co-op Service im] Sonate Pam No. of Units _4 Dother [CJ Other i Sales Price: § Estimated Vatue: $ Loan Amount: = ee | : 1,338,900 4,339,000 4,074 ,420.00 Property Address: 10275 Colfine Ave. #1110 Estate Wil Be Held i : 7 Bal Hartour, FL. 33154 Ga Fes simple sehiold County: Miami-dade | §xpiration date: Legal Description: SEE PRELIMINARY TITLE REPORT mT 7 Escrow Company: Title Company. fi 7 Malissa : Peninsula Tite : 4 (P) 306-500-9938 (F) 305-500-9937) | Listing Agent: Selling Agent: Hi Part iit"Appraisal information Appraisal ype: InterioExterionFul) C] Exterior Oniy Due Dates CO Market Rent analysis Cl Land Appraisal Appraisal Order Numbers: FNMA-1007/FHLMC-1000, FNMA. ‘only. Thank yout ~Stephanie 06/43/2007 Estimale of Value Should Be: Appraisal Cost § i BRAsis | (As Comptetes 1,000.00 . : Payment Method: E-mail Appraisal To: Spprslsalsé@ntion.com | c.0.0 O Credit Card D lewoice Citent a Oew other Sontaet or nt. he -(305)s604710*| | Comments: Please send all appraisals to “appraisals@mjop.com’. I need this ‘appraisal as a rush and with|Ricardo Soukls nanjo ontlt L (Calyx Form -reqap.inm {0107} pair, replacenfent and made in the. nashe of the liars ($250.00}| shall be in'the approved pudget of tion, as tenance; roperty. “All contrcts shall svedges tise with Aarts hheewater creer acting solely as an by the|Manager shall be: e is contr expectéd to perform, the services which would nopmally be performed bya constiuction! and/orjan engineer on construction projects tunclertaken, or to be underthken, by the Associati { 3.8 Approve all.bills received by the Association, as needed or mopthly, for plies ordered in ¢onnection with maintaihing and operating the services, work and Condorpink ¢ Association all such proper bills as and whenl the game shall become due and payable, but pursuant to Paragraphs 4 and 15 pf this Contract) Manager tbe liable for the failure to pay any such bills. : . 3.9 Maintain, as needed, the Association's financial tecord books, accgunts and other financial related records as provided by the Association's. By-Laws and pursuant tb Chapter 718, Florida. Statutes and issue certificates of account to Unit owners And their mortgages and lienors| together with such other documents as may -be generally’ fequested or provided in connection with sales, mortgages, or, other transfers of units or interests therein, withont liability of the ager for errors and/or omissions unless as a result Solely of its gross negligence of mduct. Manager may charge reasonable fees to Unit O hortgagees and lienors as additional compensation to Manag certificate 6f account and for, such other documents as may be gene connection with sales, moftgages, or ather transfers of units or interes! prohibjted by applicable law, and for-preparation and ‘delivery of doct purchaser in connection with ‘the sale of a unit. The-records shall Managbr or at a location.designated by the Manager in accordance: Wil is, and shall be available’ for inspection pursuant to Section 718.1111 (12), Florida Statutes, review and audit'pursuant to Section, 718.111(13), Florida. that-ah annual compilation, review. or audit of. the financial recoi indepehdent certified public accountant employed by, and at the cost, 3 val! Association and_at. stich times'as determined’ by the Association. Forjextraordinary of repeated secordy inspection requésts, the Manager may charge the Association alreasonable adrainistrative ss Page 3 of 15 ° ers, purchasery of units, for the prepary tion of a requested or provided in therein, to the AOMINISTRATIVE COMPLAINT, . facllitatq transfers and leases of Units, all as. needed; provided, howeve: . employment insuzance, withholding and social security taxes and < fee for- the time required to produce documents for inspection by a member of the Assox for the time of a the inspection. | { _ < and . 3.10 . Prepare, annually, a stiggested overati t for the Associati 4 forth am stoma” gat ® gma, ‘ipgested operating budget 4 sociatibn setting . | givl? Maintain, as needed, appropriate records of all itsurance co by the Association, i 3.13. Accept applications and references ‘of pros; ctive Unit pur i : that the actu: ‘oF disapproval of the same shall be given and executed by a proper off 3.14 Prepare, as needed, all payroll and file the neces: other forms fessionals, whose services the Association may. r of the Associa the then sociation , nt, shall be submitted budget meeting: The ents, | 's direction, approval and tants, tax éonably e carried ers and approval ary forms, as needed, for emp! t of the Association's employees, if any, required ‘by federal, state or ipall s, All expenses incurred in providing this service shall be a direct pass ‘to the and shall be charged in accoidance with the provisions set forth in Paragraph 6 of this 3.15 Prepare and send, as needed, all letters, report and notices as may be veasonsbly requested by the Board.of Directors of the Association, and attend monthly eetings of the Boz by the Association or its desi; 3.16 Deposit, as needed or weekly, all funds collect frem Unit o to a bank account (Account) established by the Association as custodi ‘of Directors, annual meeting, budget meeting ‘and’ any jother general, membership of the Assotiation and file ininutes ‘thereof, which mimutts shall be prepared and rs and for the Azsocafion 20 that said funds may. be withdrawn therefrom to pay all ‘expenses of opelation and mainte: indicatd the custodial nature thereof and ‘the finds therein’ will not be ‘ce of the Condominium as contemplated herein. The Account ‘will be style 30 as to with: other ‘funds cpllected by the Manager as.agents for others or otherwise. ‘The Manager shall ndebe liable for any loss resulting from the insolvency of such depository. the Board of Directors as to maintenance and improvements tothe Common Elements. . 3.18 ” Provide regular reports to the Board of Directors of the status “and corppleted operations affecting the Assotiation. - : ’ AGENCY, All actions taken by the Manager. with redpect to- manag ‘on. Accordingly, sill obligations ‘or expenses incurred in the pt obligations shall be for the account, on behalf of, in ass * obligatdd to make any advances, to or forthe account of the Association! Page 4 of 15 ADMINISTRATIVE COMPLAINT PAGE as ooOF 3.17 Pecform routine. visual property inspections and |nake recommendations to 6f ‘pending ise under the provisions of this ‘Contract, shall be taken! olely as an agent of the th ri : and hold the Manager harmless from any such’ Habllity (including reasonable attorneys'fges and costs whether pre-trial, at trial, mediation or arbitration and/or in sonnection with any. Appeal) as proviled in - in the following sub:paragraphs are independent from all other obligations of the. parties to this Contract aij sing ives, {sseciation hereby agrees to maintain at all times of the following insurance coverages: : . non-contributing insur or clay pimectors’ and Officers’ Liability Insurance with limits of not fess| than $1,000,000,.00 per claim and aggregate, providing a retroactive date beck, to the inception date of the Associsfion, and naming The Continental Group, Ine. end any and ail of its affiliated or rdlated entities, dikectors, officers, employees, servants and agents” to be a cally de: “adiditionallinsureds*, ; covering alj employees, subcontractors, or volunteers of the Association, with employer's lmits.of nof less than. $500,000,00-each accitient for bodily'injury, $500,000[00 cach employe for bodily injuty caused by disease, and $500,000.00 policy limit for bodily injuky caused by didease. Said policy hall be endorsed to include a waiver of subrogation in favor cr the Manager. C. Workers’ Compensation insurance according to’ State statutory fey (bilit D. Unbrella’ o¢ Excess Liability Insurance: courrence ‘and aggregate, 2} providing follow-formn E. "Fidelity Bond with limits of not less than $500,000.00 or such bther as mnay be required by applicable law including the | Cras a.ivamed : ® The insurance carriers providing the coverages outlined above mubt be financially found, be rated A VIl-or better by AM, Best Company, and. taust’be licensed lo do 1 : : Page 5 of 1S an business in the State of Flirida. officers, employees, s: Liabili Continental » Ditectors’ Fopy of the HT wwed. endorsement to the Commercial General Liability Bolicy indicated, in| Paragraph BLA he appended to the. certificate of insurance, I4 the “Cancellation” proviion of the certificafe it shall read as follows: “Should aiy af the above described ‘policies be led befare the expiration date thereof, the issuing. company will mail -30 days"written notice tol certifichte bolder Hamed in'the certifisate’. It is agreed by ail partios that no world shall commenced under the terms of this Contract until the original. Certificate of Insurance ic récpived and. approved by the Managet. No later than the Hui Contract. i . . ' 5.2 The Manager hereby the following insurance coverages: agrees to maizitain at all times » Policies required by this ‘anager with a: new, original Certificat \of Insurance in ¢o and. to provide-evidence of | $1,006,400.00 tenis & " : include: 1) $1,000,900.00 limit each occurrence for bodily injury. and property damage, $100,000.00 general | aggregate limit, $1,000,000.00 ? $1,000, 00.00 products and completed operations limit; 2) contractual i: 5B. Commercial Auto Liability with a.combined single limit of $1,000,000.00 and $1,400,000,00 limit for non-owned and hired automobile ‘liability, : C. Workers’ Compensation Insurance accordifig to State statutory limits coveringlall employees or subcontractors of the t, with employer's liability limits bf not less than $50,000.00 each accident for bodily injury, $500,000.00, each employee for bodily-injury caused disease, and $500,000.00 policy limit for badily injury caused by dixease. . D. Umbrella or Excess Liability Insurance with limits of not less than $5,000,00.00 cach occurrence and. aggregate providing follow-form, doverage over General » Liability and Employers’ Liability policies. B. Por to the commencement of work under this Contract, the Manager shall prqvide @ current and original Certificate of Insurance showing ‘thel On the qenewal date of any the Asscciation with a new, Contra: ie] coverages outlined abave. insurance policies required by this Contract, the Manager fll supply original Certificate of Insurance: in‘complidnce with all te ins of this COST REIMBURSEMENT. , i i . . 6.1 Except as is otherwise expressly Provided berein, the Assdciation sh pay.or reimburye the Manager for all costs (as are more specifically set forth by usta oly in Exhibit JA" hereto, made a part-hereof by this reference avd Paragtaph 3.14)-which may be incusred| by the Manager in providing services, materials and supplies 1 imediately upon|receipt of . an invoige therefore, except that the 7 not be entitled to relchbursement for salaries of officers #f the Manager and general office overhead of the Manager, jas said items are actually included!within the Contract Price, as that term is defined under Paragraph $ hereof. 6.2 Without limiting the provisions of Paragraph 6.1, after Acts of God and other insurable claims such as, without the Association agrecs’to reituburse Manager five percent (By i uo Page 6 of 15 | clement oF flood common, anes, fire cyst of the itation, burri of the total ADMIN! | | | b t il incur in coordinating the repair and restoration process'by ‘contractors engaged’ by the Association with the day to day atti ies of ’ ; 1 : the Association [for other, Saas K 4 Tei ably termine will create additional administrative burd. on anon: . a T. MANAGER'S: UNDERTAKING. ‘The Manager, by the cution of this assumes and undertakes to perform, carry outand administer all m: : RIGHT OF ACCRSS.. The Manager shall have access to {ie Common Bidments at gil dhaed as may be necessary so as to perform its duties herewnden : 7 get, pursuant to Paragraph 6 and other pertinen’ Paragraphs hereof, the A: Fay {he Manager the sum(s} stipulated in Schedule I of this Cectre COMPENSATION. In addition to all actual costs for oe the Assdci eeer act Price), in advance on the first day of each month, of as other bine sae aa 1 Until the expiration or termination of this Contract, as provided undér Paragraphs sociation agrees that all outstanding balances due in excess f thirty (30) assessed interest at the maximiam rate as 481 303 D 481 Be bl 481 305 ° a 40t . oI 402 > % 403 D 481 404 D 481 BH ° 482 au D 483 ae ° 481 oo > 481 504 o 481 Ba ° 402 601 D we a ° 461 603 D a oo ° 481 oon o 482 a 2 “2 483 a ° 484 io 2 a1 ie be 81 705 D 482 802 D 483 ao hd 481 803 D aa bos Md 481 as o 482 coe be 483 oo ° 481 oot i 481 ou 2 at ed ° 482 be 8. 483 2062 D 2 1003 D a 1004 oD 481 1005 D be TOL D 453 1102 D 481 1103 D a tio4 b 2 1105 oD 402 1201 rs 2 1202 D 8 | |S pane LG Ebi) ADMINISTRATIVE COMPLAINT, Exnipit #4 Pace 57 og H i.) ‘UNIT # ‘SF 1203 BD 481 * 1204 D 484 1205 oO 482 i 1401 D 483 1402 Oo 481 1403 o 481 1404 oD 481 40s Dd 482 103 € 1,195 102 E-mod 1,206 101 E-modt 1,142 116 F 756 115 G (361 tog G-Geombo 74L il¢ aq * 433 AZ H-mod 7 A368 an H-mod1 ‘386 108 i 376 100 J 2,737 1508 PH-AC-combo 2,610 iso PH-A-mod3 1,503 1522 PH-A-mod4 1,568 153 PH-A-mads- L40L 1532 PH-B 1,056 is21 PHB 1,086 1506 PH-B-mody. 1281 is30 PH-Bemodt L291 Asia PH-B-mod2 L127 2520 PR-B-mod2 1,128 1933 PH-B-mod2 4128 1534 PH-B-mod2 4128. 1518 PH-B-mod¢ 4128 1535 PH-B-modq> 1,132 1 1517 PH-B-modS 1,420 1523 PH-B-modé. 1447 1514 PHC 894 151s FHC 894 1524 PHC B97 1825 PHC - 894 1 1526 PH-C 895 1527 PHC 909) 1528 PHC aos: 1529 PH 892. i516 PH-C mod 967 1si1 PH-CC-combo 14,795 1507 PH-Comod 964 1503 PHD 578 t 1504 PH-D ‘S78 isos PH-D S72 ison PH-D mod, 483 1502 PH-D mod, 483 1601 Solarium 5,344 RESIOENTIAL suarotat 434,781 Cult 7,790 i COMMERCIAL ‘SUBTOTAL 7,790 GRAND ToTay 442,571 Note: Given the nature of con Gwmership, the Unit . ele, and essey st skepace between the pete woke all aterior structural Peeclse Unit gre Section 3.2 of the Decratin. For your = VY Harbour House, a Condominium Allocation of Assessments Unt Type Mosinty, Annet a ae A f 8719s tose $ 1.00816 $2 ei7e AMod $982 § tna7rat Fy 1341.83 AMod 2 3 970.14 164161 5 117868. § AC Combo 3 1,615.84 ¢ 18,190.02. ¢ 1841.66 5 PH A Maas 3 199077 $ 236021 $ 1282.33 5 PHA Mods 3 1.06109: § 1273301. § 1,288.16 5 PHA Mods $784 Ss tteater $ 1176.86 § Pac geass otseaae 3 2173.15 8 $ R780 s “Sy3104 8 883.99 BMod/B Mods 72780 saat a $ 883.99 PHB $7760 § grata $ 883.99 PH 8 Moat $ B7a49 § 10,850.21 § 1,088.16 PHB Moaz $ 70824 5 oaseay 3 957.66 PHB Mod $ 788.24 $ 9,458.81 ¥ 987.66 PHB Mods $90.14 § stearey $ 1,170.66 PH 8 Moag $ toons $ a2o0-a4 3 1218.49 c § 0634 $F areo4 $ 736.66: § PHC 3 608.34 § 7,276.01 § 736.66 § PHC Mod $0097 $ anaes 8 810.33 5 PHcc $ lass § sastses $ 1510.18 § D $ 33348 5 - “oores 3 405.18 § PHO $ 29812 § aoe ey 3 47883 § PHD Mog $s 33348 ¢ 4,001.80 $ 406.16 5 E/E Mod $1855 § geonar $ 99449 § E Moat $ 7e824 § 3 857.66 5 Fe s St5.39 5 g 626.16 $ S $ 30317 § $ 360.33. 5 SG Combo S$" St5.39 § $ 626.16 § HH Mog 3 30317 5 $ 308.33 5 Hod 4 $ 272e5 § 3 -331.50° § ! 3 24253) § s 20466 § J S$ 1.87964 § $ 226365 IK Solarium $ 3,666.23 $ 3 4,456.81 -§ Cut 533576 5 6.48263 § 1s acners Freak Devk(1 24 hou ala ‘Mata PAYABLE TO unasion, i 1 | | i i L & oles 1 ae (oa on een ‘Issue which comes before thy sipoctaion réquidag un owner approval Wa. unttis owned by than one person ar by tet eee ete eek ee en Certificate on wiley vag :destonatng Ue person ented lo made by orlicate may be changed at any Ging he owner(s) of th Dent eS day today deco of te se cede f rae ve ak by Otreclors etocted by Uni Owners other than the | pplicable provisions of tha Fioida ‘Condoretum Ack: Secton 718.201; te Pr 2 Wha restrictions exist ta the con ff permitied by, codes; Wel Unt stil ont bp, t ay a eT SVC, ol set eee sistas mnt eta Uy a ca The bo, Please teler to the section of ‘80d Coxamnan| ett Rules and Regatons of re hess ‘and Section JF he Dacian ateced as EXD “eee ae fhe feas0 fanny) os bias any aut ‘hich I nol aid win ve days the of same). No lease of a Restdenfat annoy et 0 es fe Reva neal icing any calendar year) Ceca See err ae ca ae Pe Please Desoto ol Codon ado sito sain bt fa 4 How dar of fe, 'Y ASSRESTIENS fo tha condominkem sssoctatlon Yor ary unk type and when ach they dus? Each Unt i ci rete See i tS ta sere Stanek Santen arth een sean a Hetil mn ii ano Be Eat gag eae» ee rt ‘Undis (with (eserves) from] $9904.60294.68 per mon ($9618.673,535.97 por year) {0 $4,$61.664,456.51 pee month, (54,730.6653.401.54 per yhar). atd What are my voting rights! ‘ara my assessments? You sre ‘nol obfigated ts Join any oliver association finer (har the condominium associavon, ot { ts ron ef te is wet ean ee fudat ofthe condor ‘socafon and ae pot kr by ac owners Ureghserecererne an 7. nant tte 2dominlum association of reat antatony memborste association involved la any {aco ablity in excess of $400,000.07 If 59, Menlify each such case? ‘The association ot presently a party: thal are of tntorost ta of at of the provisions of the ER SHOULD REFER’ ocuntenrs FOR COMPLETE a 204 HARBOUR HOUSE, A CONDOMINIUM | 26.06" LS y9'62 TYPE: A . ata dn | LEGEND: CONDOMINIUM UNIT BOUNDARY ONE Saeed ELEMENT i UNE 1 COMMON ELEMCNT NOTES: . . Each Condomihium Unit consists of the space bounded by the Condominium Unit boundary fines by: (A) Upper Boundaries. The horizontal plane of the unfinished lower surface of the suc ceiling of {the unit. (8) Lover Bodndaries. The horizontol plane of the unfinished upper surface of the concrete floor of the unit. (C) Perimeter |Boundory. The perimeter boundary of the unit shall be the vertical plgnes of the unfinished interior surfaces of tHe wall bounding the unit extended to their plonor intersections with each other and with the upper and lower boundagies. (0) This unit {s shown hereon as a typical type unit, even though there ore variations to the structure] within each Unitas to size, shape and location of columns as well as the size of buiconies. In| an effort to decrease’ unit types, os dirdcted by the client, this unit is shown os typical. (E) North arrpw varies depending on the location of the unit within the tower as grdphically shown on JExhibit’ 2. There may ejist some variation between the proposed improvements ‘ond the improvements as construpted. TYPE: A UNIT: 222-1422, 231-14. (13th Level Excluded) EXHIBIT LEGEND: i i i 21.25" t x e 8 5.924] & " 86" | TAG = ESE i si | a | H TYPE: Amod. i 8.90" ' e | . R . Nn 8 g ca ’ (a CONDOMINWM UNIT BOUNDARY UNE COMMON ELEMENT ‘BOUNDARY TLINE UNITED COMMON ELEMENT NOTES: Each Condominium * (8) Lower Boundari {C) Perimeter Boun surfaces of the wal lower boundaries, SEXHIBIT 2 (A) Upper, si There may exist so Init consists of the space bounded The horizontal plane of the unfinished lower surface of the struct The horizontat plane of the unfinished upper surface of the concré jary. The perimeter boundary of the unit shall be the vertical planes bounding the unit extended. to their planar intersections with each ot} is, variation between the proposed improvements and the improvement TYPE: A mod. UNIT: 209-609, 809-1409 (13th Level Excluded) ' by the Condominium Unit boundary fines by: | i ceiling of the dnt. fe floor of the unit, f the unfinished interior jer and with the upper and | . I Sos constructed, SHEET 31. { LS pd 2OC ii i COMPLAINT Each Condominium Unit fi (A) Upper Boundaries, E (8) Lower Boundaries, {C) Perimeter Boundary. surfaces of the wail bo There may exist some v I . i fe EXHIBIT 2 consists of the space bounded by the Condominium Uni he horizontal Plone of the unfinished lower surface The horizontal Plone of the unfinished upper surface The. perimeter boundary of th of the structural ceiti riolion ‘belween the proposed improvemeats ond the improvements as co TYPE: A-C UNIT: 708 . Exhibit, | it boundary tines’ by: structed. 1 Ss fg of the unit, of the concrete floor] of the unit. e unit shall be the vertical planes of the uniinished ‘interior ding the unit extended to their planor- intersections with’ each other arid lower boundaries, | rth the upper anti ote SHEET. 33. HARBOUR HOUSE, A CONDOMINIUM 20.25" be POSS 89'S | C1 sbL!0S-———— a TYPE: PH A mod.3 ca cd CONDOMINIUM: UNIT BOUNDARY UNE i ELEMENT . 1 UNE. ‘LIMITED COMMON ELEMENT I NOTES: i Each Condominlum Unit consists of the space bounded by the Condominium Unit boundary fines by: (A) Upper Gourtiaries. The horizontal plane of the unfinished lower surface of the strustural ceiling of the unit. (8) Lower Bourdaries. the horizontal plane of the unfinished’ upper surface of the con rete floor of the fini (C) Perimeter Goundary, The perimeter boundary of the unit shall be the vertical planes ‘of the “ie interior surfaces of the wall bounding the unit extended to their plonar intersections: with eact! bier and with thé upper ond lower boundarids. j | some variation between the proposed improvements ond the improvements as constructed, TYPE: PH A mod.3 i UNIT: 1510 There moy -exis EXHIBIT 2 Page 20S | . i |. SHEET-34 | | LEGEND: NOTES: Each Condominium Unt consists of the space bounded by (A) Upper Boundaries. | The horizontal plone of the unfit (2) Lower Boundaries. | The horizontal Plane of the. unfini (C) Perimeter Boundan). The perimeter boundary of the unit shail be the vertic Surfaces of the wall béunding the unit extended to their plonar intersections with each other ant with lower boundaries. (0) In. certifying thot Nonetheless certoin pol EXHIBIT 2 HARBOUR HOUSE, A CONDOMINIUM CONDOMINIUM UNIT BOUNDARY , UNE iat CONMON ir i BOUNDARY UNI i UMITED COMMON ELEMENT : There may exist. some Variation between’ the proposed im, TYPE: PH A mad.4 i UNDER CONSTRUCTION i the Condominium Unit boundary fines! by: shed lower surface of the structural cejling of al plones of the ‘provements and the improvements as’ construc 1a teens are substantially complete, we viewed the improvements in their totally, | tions of the improvements: remain under construction. Those items are’ iHentified on this | sheet as “UNDER cong, TYPE: PH A mod.4 UNIT: 1522 . ADMINISTRATIVE ¢ EXHigiT 2 ¥ ished upper surface of the concrete floor of the unit. i unfinished interio al the unit. | the upper ond ted. OMPLAINT LEGEND: NOTES: Each Condomini (A) Upper Bou (8) Lower Boun| (C) Perimeter Bb surfaces of the lower boundarie; There may exis (0) tn certifying Nonetheless cer! sheet as “UNDE EXHIBIT 2 E EL COMMON ELEMENT ‘COND UN ‘UMITEE HARBOUR HOUSE, A CONDOM a =<) C) C =} — “TYPE: PH A mod.6 [ UNDER CONSTRUCTION 7 MIU UNIT BOUNDARY ELEMENT UNE Um Unit consists of the space bounded by the Condominium Unit boundary lines by: aries. The horizontal ‘plane of the unfinished laties. The horizontal plane of the unfinished undary. The perimeter boundary.of the unit shall be. the vertical piones{of the unfinished wall bounding the unit extended to their plan ‘ar intersections with each ofher ond with the Some variation between the proposed that the improvements are substontial jain portions: of the improvements rem CONSTRUCTION”, i improvements and the improvements as constructed. TYPE: PH A mod.5 UNIT: 1534 Exhibit c wr ADMIN i lower surface of the structurol ceiling of the upper surface of the concrete floor of the u ly complete, we viewed the improvements in their’ tot ‘ain under construction. Those items are identified on! init. unit. interior upper and ity. this ISHEET 36. [210 Each Condominium (A) Upper Boundaries, {8) Lower Boundariel. (C) Perimeter Bound! surfaces of the wail ower boundaries. There may exist son EXHIBIT 2 [° Variation between the proposed improvements and the improvements os HARBOUR HOUSE, A CONDOM r nd with the upper and ? i | constructed, TYPE: PH A.C UNIT: 1508 POMINIUM UNIT BOUNDARY ‘LINE | pO COMMON ELEMENT ium Unit consists of the s pace bounded by the Condominium Unit bound dories. The horizontal plor ne of the unfinished lower surface of the stru; eof the: unfinished” upper surface of the con! y of the unit shall be: the vertical plan to their planar intersections with each pdaries. The horizontal pion joundory. The perimeter b wall bounding the unit extended ther and with th shown hereon as o ty shape and location of led by the client, this u ical type unit, even though there. are. variations, columns as well as the size of balconies, init is shown as’ typical, i varies depending on the location of the unit within the tower os graphi the structure within each effort to decrease unit i ically shown: on Exhibit 2. Yt some variation between the proposed improvements ond the improvesinls os constructed, UNIT: 318-4418, 319-144 3, 320-1420, 332-1432, 333-1433, 334-1434, 33. (13th Level Excluded) . SHEET 38 10 FPR ARR Each Condominium (A) Upper Boundari (8) Lower Boundari (C) Perimeter Boun surfaces of the wal lower boundaries, (0) This unit unit as to size, Yypes, os dicecte Unit cansists of the 's. The horizontal pla 's. The horizontal pla lary. The perimeter bounding the unit e xte RO ESP pace bounded by the Ci ne of the unfinished fo ine of the unfinished uy boundary of the unit si TYPE: PHB UNDER CONSTRUCTION co ‘Ondominiim Unit boundary! wer. surface of the structural ipper surface of the concrete hall be. the Vertical planes of ‘ended to their Planar intersections with each other| Ih there are variations to the| ize of balconies. In an effort wed the improvement Those items ard TYPE: PHB UNIT: 1524 1532 ines: by; floor of the unit, the unfinished int and with the upper and coiling of the uni structure within lo decrease unit {own on Ext a constructed, in their totality, identified on this| it. rior ich ca TYPE: B.mod. 2 @ a LEGEND: — Gouoout UM UNIT BOUNDARY liane tented ‘COME MENT Bat Nek UNE UTED CaaON ELEMENT NOTES: Each Condominiuin| (A) Upper Boundar| S. The horizontal plane of | : it boundary lines by: i i fF the structural ceiling of the uni (8) Lower Boundacies. The horizontal plone of the unfini {C) Perimeter Bour Surfaces of the wal lower boundaries. (0) Thi unit is sh4un hereon asa unit os to size, hype ‘and location of columns as well ry floor of the unit,| ary. The perimeter boundary of tie uni i és of ithe unfinished interior ond with the upper and there are variations to the structure within ¢ as the size of balconies, In an effo lach . he client, this unit is shown ‘ds typical. s to decrease unit types, as directed (2) North arrow vo y shown on Exhibit 2. constructed, There may exist so} TYPE: B mod. : ' : UNIT: 206-1406,.24 7-1417, 223-1423, 230-1430 : i (13th Level Excluded) ; i : HARBOUR HOUSE, A CONDOMINIUM c3 TYPE: PH B mod, 4 UNDER CONSTRUCTION ‘| Ces) Sz} { J 5.9" 5] 40 Mlominium Unit boundary fined by iting of the unit, r of .the unit, unfinished interiog with the upper bad (A) Upper Boundaries (8) Lover Boundaries (C) Perimeter Boundaty, surfaces of the walf i lower boundaries, There may exist some (0) (m cettitying that 3 Ef NOTES: . Each Condominium hit consists of the Space bounded by the Con { y improvements jn their-tototity 34 Nonetheless certain HmProvements femain under construction. Those lems are identified on this if Sheet es “UNDER CoNBTRUCTION" i ; | TYPE: PHB mod. 1 4 -EXHIBIT 2 UNIT: 1506, 1530 improvements as or SHEET 41. LEGEND: ELEMENT BOUNIARY LINE - COMMON ELEMENT (A) Upper Bountlaries, (8) Lower Bountlaries. (C) Perimeter ‘surfaces of th + fower boundari There may exis| (0) In certityin Nonetheless ce} sheel as “UND EXHIBIT 2 IN TYPE: PH B mod.2 UNDER CONSTRUCTION SS] ‘CONOGMINIUM UNIT BOUNDARY i some variation between the proposed improvements and the improvemen that the improvements are substantially complete, we viewed the improverents in their totality. in portions of the improvements remain’-under construction, . CONSTRUCTION’. 10 Each Condominjum Unit consists of -the space ‘bounded by the Condominium Unit boundary} fines by: The horizontal plane of the’ unfinished lower surface of the structural ceiling of the unit. The horizontal plane of the unfinished upper surface of the concrele floor’ of the unil foundary. The perimeter boundary of the unit shall be the vertical planes wall bounding the unit extended to their Planar intersections with each other ond with the upper and df the unfinished interior as constructed, Those items| are identified on this TYPE: PH-B mod.2 UNIT: 1519-4 520, 1533-1534: SHEET 42 SHEET 42. 1S pam 2G | i | { | j COMPLAINT. LEGEND: surfaces of the: walll lower boundaries, (0). This unit is sho unit as to size, sho! types, os directed: b| {E) North arrow vari There tigy exist “| (8) Lower Boundariel, (C) Perimeter Bound : j HARBOUR HO USE, A CONDOMINIUM 2500 ———__| MON ELEMENT init consists of the space bounded The horizontal plane of the unfi The horizontal plane of the unfi Wy. The perimeter boundary of th bounding the unit extended to thei in hereon.as a typical type unit e end location of columns as w }* variation between the proposed improvements and the improvements ad TYPE: B mod. 3 EXHIBIT 2. | UNIT: 218, 219, 220, 224, 232, 233, 234, 235 inished lower surface of the structural {Celling of the unit|” nished upper surface of the concrete floor of the unit. unit shall be the vertical planes of the unfinished inter ir planar intersections with each other pad with the ppey ond t H t . even though there ore variations to the structure within each ell as the size. of balconies. in an effor! the client, this unit is shown as. typical. i depending on the location of the unit within the tower os graphically ‘sl OF [SSS SCALE: 1:10 i i ! | : : by the Condominium Unit bouridary lies by: t to decrease unit! howa on Exhibit 2) constructed, co TYPE: PH B mod:4 UNDER CONSTRUCTION: LEGEND: Kpotoounmun UNIT BOUNDARY caletemete COMMON ELEMENT . . JBOUNDARY. LINE . IUMITED COMMON ELEMENT NOTES: ° Each Condominium Unit consists of the space bounded by the Condominium Unit bol (A) Upper|Boundaties. The horizontat piane of the unfinished lower surface ‘of tha (8) Lower} Boundaries. The horizontal plane of the-untinshed upper surface ‘of the foncrete floor of tho unit. (C) Perimpter Boundary. The perimeter boundary of the unit shall be the vertical Planes of. the unfinished: interior surfaces of the wall bounding the unit extended to their planar intersections with h other: and with the ‘upper -and undory lines by: | tructuraf ceiling of the unit, fower bouhdaries, (aye, TOY. exist some variation between the proposed improvemerits ond the improvpments as’ construpted, (0) fn se that the improvements are substantially complete, we viewed the improvecents in ‘their totality. Nonetheleds certain ‘portions of the improvements remain under construction. - Those|items are identifigd on this sheet as [UNDER CONSTRUCTION": . TYPE: PH-B mod.4 | 2 UNIT: 1518 & 1535 | {. LEGEND: HARBOUR HOUSE, A CONDOMIN: UM ae . | ms cq ia . TYPE: PH Bmod.5 UNDER, CONSTRUCTION Ss i a) GONOOMINH UNIT BOUNDARY Eoch Condominium (A) Upper Boundarie (8) Lower Boundaried, (C) Perimeter Boundéry. surfaces of the wall lower boundaries, There may exist so (0) tn certifying that Nonetheless certain sheet as “UNDER Ci (a consists of the space bounded by the Condominium. Unit boundary fine: The horizontal pla The horizoniol pla The perimeter bounding the unit ne of the unfinished lower ‘surface of the structural oc ine of the unfinished upper. surface of the concrete fl boundary of the unit’ shall be the vertical planes of th extended to their planar intersections with each: other a variation between the proposed improvements and the improvements as the improvements are si jortions of the im; ISTRUCTION®. provernents remain under construction. Those items ‘are ubstantially complete, we. viewed the improvements TYPE: PH-B mod.5 UNIT: 1517 i 8 by: ' iting of the unit, | jor of the unit. id with the upper onstructed. in their totality, identified on this " unfinished interior jond = = + Oo. . co TYPE: PH B mod.6 : UNDER CONSTRUCTION a LEGEND: ee ERePONRIN UNIT BOUNDARY, TTT COMMON) ELEMENT . iv UNE UMITED €OMMON ELEMENT NOTES: . . Each Condominiu Unit consists of the Space bounded: by the Condominium Unit boundary fines by: i ed lower surface of the structural ceiling of the -uri ft. ed upper surface: of the concretel floor ‘of the unit, ty of the unit ‘shall be the vertical planes of | the unfinished’ interior fond with the Uupyler and (A) Upper Boundaties. the horizontal plane of the unfinish (8) Lower Bounddies. The horizontal plane of the unfinish: {C) Perimeter Bo ndary, The perimeter bounda surlaces of the Wal bounding the unit extende fower boundaries, There. may exist dome vartation between the {0) tn certifying that the improvements ara substantially complete, Nonetheless certah portions of th, we viewed the improverients in their totality, sheet as “UNDER |CONSTRUCTION”, re identified on this TYPE: PH-B mod.6 UNIT: 1523 i EXHIBIT 2 HUM TY HARBOUR HOUSE, A CONDOMIN | 4. i YY LEGEND: i | — CONDON ‘UNIT BOUNDARY 5]. 5 10 _ a Sou Ler ‘SCALE: 1:10 UMITED COMMON ELEMENT | NOTES: j Each Condominium (A) Upper tsa] ry. (8) Lower Boundarie (©) Perimeter Bound surfaces of the wall tower boundaries, (0) This unit is showh hereon os o typical t Unit as to size, shaph and location pes, as direcled byl the client, this (€) North arrow varie ~The perimeter boun unfinished interidr aunding the unit exten ‘ond with the ‘pper jand ype unit, even tough’ there. are. v of columns as well as the unit is: shown. as ‘ypical, depending on thé location of the unit within the tower as graphically sh ! ‘atiations to the : structure within each size of balconies. in on effort llo decrease unit won Exhibit -2. s; constructed, “Ther may exist som Voriation between the proposed improvements and the improvements. o 226-1 426, 227-1427, 228-1428 8 229-1429 (13th Level Excluded) i PACE 79 OF OF o-f- HARBOUR HOUSE, A COND TYPE: PH'C 29,38" Fovoovniuw UNIT BOUNDARY COMMON ELEMENT BOUNDARY LINE. LIMITED COMMON ELEMENT nium Unit consists of the spdce bounded by the Condominium Unit be undaties. The horizontal plane of the unfinished upper surface of the ler Boundary. The perimeter boundary -of the unit shall be the vertical -pl the wall bounding the unit extended to their plonar intersections with ed ries. it is shown hereon as a typical type unit, even though there are variatioy size, shape- and focation of columns as well as the size of balconies, +t lirected by the client, this unit is shown as. typical: row varies depending on the: jocation of the unit within the tower as q) TYPE: PHC UNIT: 1514-1515 & 1524- AT : joundaries. The horizontal plane of the unfinished lower surface of the structural ceiling of the unit. lanes of the unfini ich other and with: s to the structure within, each on effort to dectease- unit H phically shown ont Exhibit 2. + There may| exist some variation between the proposed. improvements ond. the impra) ements as constructed. 1529 MATIVE COMPLAINT NOTES: Each Condominium (8) Lower Boundari (C) Perimeter Boun: surfaces of the wall lower boundaries, There may exist " EXHIBIT 2 7 9233 2 (A) Upper 4 INIUM 35.00" cy ion) TYPE: PH C mad, Ut —,00'8¢- init consists. of the Space bounded by the Condominium Unit boundary lin! © variation between the proposed improvements and the improvements TYPE: PH:C mod. UNIT: 1507, 1516 . 5 ifloor of ‘the unit, Ss by: telling of the unit} | i 1 | ‘ | © unfinished interior ind with the upper| and onstructed, | 1 1 SHEET 49 Evhint | Sp CES_ ~ Se sramtpamtecten tite mee te = 2L$)— 7 - o3 4 z TYPE: PH Cc 3 ===] & 3 . | LEGEND: : CONDOMINIUM UNIT BOUNDARY UNE atetetenten! COMMON JELEMENT . UNE NOTES: Each Condominiury Unit consists of the space bounded (A) Upper Boundaties. The horizontal. plane’ of the unfi (8) Lower Goundaties. The horizontol plone of the uni | by the Condominium Unit’ boundary: nes. by: ' inished fower. surface. of the structural ceiling of the unit. finished upper surface of the concrete] floor of tthe unit. (C) Perimeter Bouhdary. The perimeter boundary of the unit shat be the vertical pines of |the unficished interior Rinfoces of the whll bounding the unit extended to their planar intersections sith. cack other and. with the upper and fower boundaries. |.” yo There moy exist sme voriation between the proposed improvements ‘and the, improvements! ds constructed, i} TYPE: PH C-C | UNIT: 1511. ; i EXHIBIT 2 EXMIBIT #7 a ‘ LEGEND: col UNI NOTES: (B) Lower 8 (C) Perimeter] surfaces of Jower bounda| {0) This unit unit as to si types, as dire {E) North. arr There may e HARBOUR HOUSE, A CONDOMINIUM BP'OL- bowauw iar BOUNDARY Mow etenenr INDARY LINE. COMNON ELEMENT ries. The ‘horizontal plane of thie unfinished lower surface of the s ndories. The horizontal plane of the -unfinished upper surface of the co Each Condomjnium Unit consists of the space. bounded by the Condominjuin Unit bouridary lines by: (4) Upper oe Boundary. The perimeter boundary of the unit shall be the. vertical pla wall bounding the unit extertded to their planar intersections with each ies. oad 8 shown hereon as a typical type unil, even though’ there are variations je: shape and location of columns os Well os the ted by the client, this unit is shown as. typical. ‘ | Ww varies depending on the. locgtion of the unit within the tower 9s graphical ist some variation belween the proposed improvements dnd the improve TYPE: D 205-1405 (13th Level Excluded) ALHVINIS MEET PE nls as construttel . ! UNIT: 201-1401, 202-1402, 203-1403, 204-1404 i 5 of 5. 10 [aes SCALE: #10 i i lctural celting of the unit. crete floor: of the nes of the unfinished interior other ond with the upper and unit. { Xo the structure within each Size of balconies. In:oh effort to decrease unit ily shown on Exhibit 2. y SHEET 51 LEGEND: NOTES: (A) Upper Bo} (8) Lower 8 Each tp Unit consists of the fower boundoyi There may e EXHIBIT i UNT BOUNDARY | i ON ELEMENT BOUNDARY LINE . UMTED COMMON ELEMENT indaries. The horizontal plane of (C) Perimeter] Boundary. The perimeter bounda surfaces of ‘ wall bounding the unit extende: i ies. i { ‘ tT ee) HARBOUR HOUSE, A CONDOMINIUM daries. The horizontal plane of th the untinishied upper surface of the col d to their plonar intersections with each some variation between the proposed improvements and the improverni _ TYPE: PHD | UNIT: 1503-1505 space bounded by the Condominiuin Unit bow lines by: iclural ceiling of the unit. crete floor of the unit, ty of: the unit shall be the vertical planes of the Unfinish, ; : nts. as constructel. i i | 210 interior i other and with tHe upper and [? Bede ofed Really ) Exhibit Ey, - i PPE diene oe i i COMPLAINT | i CONDO FORM sypect: Cae Ay a reh-66 OF | i UTILITIES PuBLic - BOUNDARIES HEATING & ca0unls Po ada | Electricity food OF wal Uni _ Gas _ ELA < Central A/C Water : 7 Ss: ff > Condition Mex? Sanitary Sewer W. fise. A Water Heater Storm Sewer Type i OFF-SITE IMPROVEMENTS sorb TYPE PUBLIC’ PRIVATE Y S[- 26 Street - Refi igerator - Curb/Gutter I j Range Side Walk oe m1 7 f Sheth [0 cae Sg A _ ; FaaiHood GENERAL INFORMATION Mie wave ° fasher Total # of Phases ; _. Mode! Mg 7 “J. G70. / ¢ Dryer | Total # of Units View t ' Total # for Sale Options. [fea AMENITIES Total # Sold . a Total # Rented Waler | # of Stories /{ HOAINFORMATION — fed 6G Pod! “7 # of Elevators 6. Mang Company Name (Ym Ta Sh Gym Al HOA Fee 3 . Mang Company # Tey hare A i Assessments x Basketbat SUBJECTS FEATURES BBQ Area | | EXTERIOR DESCRIPTION : 3- FF: $70 Club House a7] Roof Surface ~ . De§cribe all commoh areas Shingle | STile 4 i Concrete _ __. Tile | i Bal “ CAR STORAGE INTERIOR DESCRIPTION : ‘ | swect ar joyie Floors Meal Netp i _ 70K Flav Hite te Cekage [> # of Cars 7 jen Sra rinish Birt. R: tio mi #of Cars Bath Floors Paz ! Per Unit Bath Wainscot LOK A ow fn Di POE : Attic. x Tatalt Pkg” Security Bars x Guest Pkg . Escape Latches ibrurés : : i EHA Siisot Scone C4 {feet Scene . Hot Water Front 7 Fuse Box R ar =| Z : inferior Cn Exyvas 727 if WILLY Escopar : o REQ’. CONDO/CO-OPIVILLA/TOWNHOUSE st Bi, MU F750160. Bc: 1959. og, MAUESTIC VIEW REALTY'INC AREA 3 ‘AZON: STATUS: CS AD: 16051 Collins Ave ° : % LLP: LP: $1,650,000 . ct: DADE Fe: 0987654321234 2P:. 33160! GEOAR: LG: TURNBERRY OCEAN COLONY TOTFL: 38 BLOG#: : STYLE: C42 MC: 25 TN: Oo SE: O SD: PN: 0 MAP; ST: A TYPE: CONDO ‘ Dv: CN: Tumberry Ocean Colony INTLVLS: 9 | MN: F$: . UNIT BiG; ‘UNIT ComPLX; i LA: 2,245 TA: 2,680 YR: 2006/ UC CONV: EFF: BED: 2 FBATH: 7 HBATH: 1 [| aio UNIT: - HIGHRISE DET: Ny MNLIV; DOCK SPACEY: | GOVRN: ‘CONDO GARAG: 1 ATT CPT: i) PARK SPACE; WTRER:. Y/ OCNFRONT WTRAC: BEACHACC FACE: i UNTWW:oCNDRECT SECUR: DOORMAN ELEVATOR GuaRDSTE BALE: y CONST: NEWCONST DINE: : | stg PARK: GUEST VALET ‘ASSIGNED PARKING RESTRICT: NoRveaT | i FLOOR: MARBLE MIN LS #Day: oO #LSE YR: 1 REM: New Low Price! Best Value in Bidg ! Submit Ail Offers 1 Motivated Seller 1 Special: Unique deaded assigned self’ Es; barking space, also available, Ms: ‘ HS: DIR: JUST SOUTH OF 163 & COLLINS/ALA OCEANFRONT BRK-REM: BONUS $5 K to self Spencer@123F atCat. LR: DR: DA: 38; 2B: ee, abent. Call Owner Spencer direct. Office (805) 962- com, FR: DN: Fur uR: 1986 Cell (805) 708-7700 H i 1 | | | in 805.962.5176 & RESTR: OTHER APPRV: OTHER Hopa: | HEAT: | CENTRAL SOOL: CENTRAL ELEC i ! TRMSCONSCONY LSEOPTN LSEPURCH. OTHER ASSUME: DAV/soH: i MPR: N TOA: C. TOTAL FEES: $0 ” DMV/asv: } TAXES: $0 TAXYR: 2005 TAX: NEWCONST . T:|, i ‘APP FEE: $100 MAINT FEE: $1600 LAND LSE: $0 RECLSE; $9 ‘SPEC: POSS: OTHER IDK) oy | LPID: 577939 LS: JOSEPH PUTRINO APH: 805-705-700 OPH: 954-355-3945 | 2PID: 2A: 2AG: 805-962-1996 FAX: | 805-963-2662 Uy: ir ON: Spencer Seal ON#: 805-962-5176 2PH: | 805-705-7700 | URL: - http:/Toc.123FatCat.com. PHOTO: . NOPHO. {BRO | EMAILA: Spencer@123#atCat.com wo: & | Copa: 3% Core: 3% cONR: VAR Noa: oy, vt: i Occup: vacant SHOW: CALL-OWN 40: 07/19/06 * xB: arh9/07 j PREV STATUS: A STATUS CHNG! 11/10/06 OK ADV: Y Li PREVS: $1,700,000 price CHING: 09/22/06 ORIGS: $1,750,000 INET: ¥/Tumberry Ocean ‘ 7 Front. Uttra luxury bidg. Full service everything 12: * Beach Spa. Private club & | latauon, i PD: Liy/10/06. . CONTING: DM: Lid FURNU co: 11/10/06 bp: $1,535,000 | ‘ECD: CB: - TURNOT ‘SPID: 3109437 ‘SS: George Kauper . Si: t SPID2: S$S2: S22: *(c) 2007. .. Southeast Florida Regional 06/14/07 91:32 fan et Pace 2 ¢ MPLAINY ML# Status. Price Date Agent - Broker DOM 750180 cs $1,535,000 11/10/06 3109437 TURNOL uk F750180 A $1,650,000 09/22/06 577939 1959 . F750180 A $ 1,700,000 08/25/06 $77939 1959 F750180 A $1,750,000 07/19/06 577939 1959 06/14/07 *(c)_ 2007 -- Southeast Florida MLS ~ INFORMATION IS BELIEVED ACCURATE BUT IS ‘NOT MUINIST set vast “kL AVENUE “ Settle’ ~ent|Statement MIAb, , FL 33131 US. Dep. Penh Flowsing _ and Urban Developmeat T OMB No. 2502-0265 i B. Type of Loe L 1) FHA 2.0] Fauta 3.68 Conv, Onind 6 File Number 7, Loan Number 4. Morigageosurance Case Number | 4G vA 5.0 Cony. ins, 10340.290408 e | ir = NOTE: This form is fumed ADDRESS OF BORROWER: Bat Harbour, FL: 33154 E E, NAME OF SELLER: TROY House, Ltd, a Florida fimited partnership i 4315 8: Biscayne Boulevard, 3rd Floor | ADDRESS OF SELLER: Miesni, FL 33131 S.NAMEOF LENDER: : ADDRESS OF LENDER: G. PROPERTY 10275 Coltins Avenue, Unit #408 LOcaTion: Bel Harbour, FL 33154 B-SRTTLEMENT AGENT: GREENBERG TRAURIG, PA, 122) BRICKELL AVENUE, MIAM), FL 33131 PLACE OF SETTLEMENT: 122] BRICKELL AVENUE; MAME PL33131 EMENT DATE: LUD !20GROst AMOUNT DUEFROM BORROWER > 200AMOUNTS PAID BY O8 IN BEAL OF BORROWEE 29 [~~ i70.n6e-00 879,587.57 Adjustments , poo ls de Peek EEE ATES COMPLAINT US. DRPARTIANNT OF OUI AND URBAN DEVRONET ‘SETCLEMENT STATEMENT 1 Pe scoot of thle teneactlon, evs embed the fi TRAUBO, FA, H X¥a L3acuaset dH 22ter cour 22 Rey i { i VIVE COMPLAINT EXHIBIT / pace 34 HARBOUR HOUSE, A CONE CONDOMINIUM ‘UNIT BOUNDARY. UNE: COMMON ELEMENT BOUNDARY: UNE ‘UMITED COMMON ELEMENT lomninium Unit consisis of the space bounded by the Condominium Uni Boundaries. The horizontal plane of the unfinished lower surface of Boundaries. The horizontal plane of the unfinished upper surface of ter Boundary. The perimeter boundary of the unlit shall be the verti f the wall bounding the unit extended to their planar intersections wit indaries. : exist some voriation between the proposed improvements and the im TYPE: A mod.2 : UNIT: 240-1410: (13th Level Excluded) boundary lines by: e structural ceiling of the unit: the concrete floor of the unit. f planes of the unfinished interior each other ond with the upper and provements as coystructed, , i Harbour House, A Condominium Schedule of Bedrooms and Bathrooms w] Maintenance Fees ‘ Unit Type Unit Nos. Sedroom Bathzooms| feecance iA Units ending in 22 and 31 on Floors 2 through 12 and 14 2 || 2 A mod, Unis ending in 69 on Floors 2 through 6 and 8 through 12 and 14 zt 2 ye JA mod.2. Units ending in 10 on floors 2 through 42 and 14 2-128 JAC Combo Unit: 708 - 709 Combo - 3 if 3 PH-A Mod 3 Units 1510 Zit 2 PHA Mod. Units 1522, 2p 22 PHA Mod. Unit: 1531. Zz Zip Pr AC ‘Units1508-1509 Combo ai 3 i Units ending Ih 16,19,20,21,32,33,34,and 35 on Floors 3 through 12 and 14 21 2 eae Units: 152i & 1532. 2 2 jee ‘Units eriding in 06, 17, 23 and 30 on Floors 2 through 12 and 14 TeDen 2 [Pre Mod 1 Units: 1506 & 1530 ‘1¢Den, 2 PH-B Mod 2 ‘Units 7 1519, 1520, 1533 and 1534 {2 2 Brod 3 Units ending in 18, 19, 20, 21, 32, 33, 34 and 35 on Fioor 2 2 2 PH-B Mod 4 Units: 1518 & 1535, 2 2 PHB Mod 5 Unit: 1517 TeDer 2 PHEB Mod 6 Units 1523 1xDoh 2 t { t . Units ending in 08 on Floors 2 through 6 and 8 through 12 and 14, Units ending In | i vlc 0711, 12,14, 15, 16, 24, 25, 26, 27, 28, & 29 on Floors 2 through 12. and 14. 1 1142 _|$ L___ 606.34 PHC Unkts: 1514-1515 & 1574-1529 ri rin | $ | 606.34 PHC Mod Units: 1507, 1516 a 1y2 ($1 666.97 PH CC Gait: 1511-1512 Combo. ZDeh Ze | $i 1242.09" jo Units ending in Gi, 02, 03, 64, and.05 on Floors 2 through 12 and 14 Ti 1 $7 333.48, tal) ‘Units; 1503-1505. Ti t $i 394.12 PHD Mod Units; 50i-1502 imi fr al 333,48. E Unit: 103, : ZI z $1 818.55 E Mod Unit: 102 Pal 2 $1 818.55 E Mod 2 Unt: 101. 2! 2 $i 788.24 IF ‘Unit: 116 pas 1 $) 515.39 iG ‘Units 155. i T $1 308.17 GG Unit: 109-410 Combo fo riz 1 $1 515.39 | fi Unit: 714 il aes $1 305.17 1H Mod ‘Unit: 112 cu T $f 303.11 1H Mod Unit fit 1 rs T7285 i Unie: 108 qf 1 £3 242.53 U Tint: 100 - Seder 321 $1 1,879.64 ICK Solarium Waits 1601-1602 Comnbo (including Unit 1603) ci a] — 3,668.53 As of: 4/13/2007 Exhibit : pe 222 ADMINISTRATIVE COMPLAINT, EXHIBIT #Y _ pace _ 4 ar "Fax: @54) 37 2298 : i Addendum is made ani and: between, Harbour corporation (the “Associatio a -") Manages Association. and ‘the Visions of s 2 ce Tespon shall emaln in ful force and effect, EN) WilNESs WHEREOF rat above writien: Cuca) _ ADDENDUM 19 MANAGEMENT Cony: ¢ tevin: the parties with resp the. parties hereto have executed this . Agreed: to amend the amended a8 more particuler he Manager have the Agreement be by modified, attached the ‘Abreement ang Cement are here! aH of the respect iz the Agr ah by ratified and Addendum a8 of fhe day Harbour House Condorr| © The Continental fins atal Group; Foge 1 of 3. er re paid plus. labor burden . is int foccretany, and 38%. for all other Personnel. ite| administrative, Ichedhile LA. of {12-04-06)' Se SCHED Harbour House Condominium a (462 Units) . " mowtay $4,620.00 eping : : bagl aman resource administration: The Social security, Medicare, y Increases in workers? comperpation insurance rates . pass through to the Association|as.of the effsctive date ions, 1 God seedy the this Schedule I are inclusive of onde" gelsonael r Asbociation, Ine. | Personnel =e be employees of the security: ation ‘insurance, Manager's Contribution kground checks, tecruitment burden may be by Manager pursuant ‘members who are Rey employee Rates are receiving the Jength of employment Manager, and Fag 20f3 oo E Pes Aa ynent Policies and/or by Manager shall ‘be atthe ctor. | 1 | - scHEDtie I- “A ; Harbour House Condoms Assoctation the following number, cra upon prior written. “pprovat of the Association: i Manager 40 hours per week : H ‘ Administrative Assistant "40 hours per week ! ' . i + Secretary, /Receptiontst _ 40 houré per week ; i Maintenante Supervisor “40 hours por week - poo, | Maintenance Fersonnel Q) : 40 howis per week each | Groundskebper 40 hours per weeks: | 4 ; | Janitorial Hereonnel (3) “40 houré per weeks cach i i Receiving Glerks (2) £0 hours per week each | Front Des! 168 hours per week total { , one Any hourslover 40 per weok for nomencipt employees will be charged atitime and one hate, 02.0406 | . ! . i ' | \ i : i i ' i . { i : i | I t PSeeS of Tole war i : | ! . | ob [26 ADL vel EXHIBIT ad PAGE a ES iC. THE CONTINENTAL CONDOMINIUM ASsocra‘TION _ MANAGEMENT CONTRACT oo BE NASEIEINT CONTRACT OPERTY SERVICES ' al Estate Broker | | : ot 1 The Association is the entity. to. be formed, and to be responsible dir the uz House Condominium. ("Condominium'), located at 10275 ° ‘Collins Ay i epecation of" vente, Bal Harhous FL 33154 in ‘Miami-Dade County, establistied by the Dedlaration of Condominium retained] to consi ed in the: Public Records of Miami-Dade County, Florida (‘Declaratidn’)) ium consists of 45'7 residential units, and's ‘commercial units, for a total The Association desires to retain te Manager, and thé Manager desires ta be so in manage the Copddminium. ' n received by each party. from the other, the receipt, adequacy and o OW, THEREFORE, in consideration of the Premises, andj other good acl valuable ciency of Which ‘ste hereby acknowledged, and in further consideration ‘éf the mutual covdmuhe and agreements hereinafter set forth, the partis hereby agree as follows: ; i ~ | . EXCLUSIVE MANAGER. The Association hereby jretains, and ap, ints ‘the ) aad the Manager ‘hereby accepts such retainer and’ ppoititment, on the ns and ‘conditio, oT) hereinafter set forth, as exclusive manager of the ‘Association TERM. The parties intend the Contract to comienicd on or ‘about i : the. date. of ofthe Declaralion of Condominium; however,” the actual effective date of “commencement shall be thé date Manager Teceives written notice to commence | from the -Associaliion; which notice: sball be promptly Provided to Manager atthe tire the Declaration is tecorded.. The Contract shall continue for.a term ending three {3} years from, the Jast Hay of the "month during which the Manager receives written notice ta commence|| subject to te 1 rmjnation by either party as provided in Paragtaph 11 herein. The fees set forth in Schedule f of this Contract shail automatically increase by four percent’ (4%) at each anniversary Hate abeve tn year. Upon epiration of the tenm of this Contract, or any renawal. , the. Cori shall automafically be extended ‘on’ month-to-month basis.” During the [period of time the Cont has been so-exténded, either party shall have the Tight to’ ite the-Cont without cause upon thirty.{30) days! written notice to the other party. : iation MANAGER'S DUTIES. During the term hereof, the: needed, or as-otherwise’ specified herein, to assist the Association, and shall appoint * oxo ce705) ; : Manager shall dssigt the in performing the following services ds requested by the Assouition white acs atlieast.one ecb anne eee nee : is : depdndent contractors working nm such persons, firms or companies neces) ts Properly maintain and according to. the Manager's reasonable judgment, the ‘budget of the i The Association unders Association, “Mal Shall alsojassist: the sociation Mani > Under io cireumstan: ces she anager ma’ Representative in any be designated to serve as the Association’ ; i | i le the day-to-day jas rigeded on| monthiy, the Association, clude, But not be Iinited to, rscords of and performing all services in connection with signee of the Manager. ~ 3.3 of Directors, which may be due the - advise Association's attorney to take such action in- Assoclatidn by way of making, recording, satisfying initiating llegal process or taking such other: action.as the Manager’ appropriate, in its reasonable judgment, subject to sach assessments. alf, of the ciation's liens therefore, ssary. or ction of 3.4 Cause those. portioas. of ie Pe maintained and repaired including, but not{ imited to, lan iscaping, Gleaning and such other ordinary and extraordinary: naintonaree and repair Work as nkay he necessary consistent with the a apptoved budget or as requé Provided, however, the Manager shall not. ch! reph nt, ‘refurnishing or refurbishing, the-cost of.which exceeds the Dollars (th ign, to make 50.00) without the prior approval budget of the Association. Notwi ec shall have the right, but not ted by the Association: any ‘single item of repair, stim of Two Hundted Fifty unless provided fdr in. the herein to the contraxy, of the s to property, oF as are safety of the Association or icessary Service| to the ing the approv. fmergency repairs and replacements which, accotding fo the nit owmen naceh actious as may te reasonably -nédzesary to advige’ the {if Unit owners and/or occupants of the need to comply with all deve si Page 2 of 1S MRRAANAANARADAARAS~ -- t ADMIN | IR10-01.PANGEAN INTERNATIONAL FOLIO. NUMBER: 02-3223-023-0280 4401 CQLLINS AVE 3501 OW22R'S NAME AND ADDR UNITS 3501/3503 FBII LLC 4441 COLLINS AVE 3501 MIAMI BEACH FL 33140 COMPARED TO: 4401 COLLINS AVE 2015 ; 061407 PAZIP BED BTH HB BUILT ADJ SQFT- $/SQET AVR 33146 0 1 0 2005 | 516 2790.69 3.66 WG VP FLR CONSTRUCT } ZONING LV SQFT 0 * N/A * 41 ~ RM-125: 0 LEGAL DESCRIPTIO N FONTAINEBLEAU -II CONDO) UNIT 3501 LOT SIZE ==> ISc COUNTY UNDIV 0.86670403 0.00SQF INT IN COMMON ELEMENTS | LOT TYPE => OFF REC 22955-1343 i YEAR BUILDING LAND ASSESSMENT AS/FT YEAR | ‘TAXES. D TX/ET 2006 0 0 392,450 760.56 06 9,152.64 N 17.73 . COUNTY MARKET VALUES HOMESTD SALE DATE AMOUNT AND TYPE YEAR BUILDING LAND TOTAL 0 JAN. 2007 1,440,000 2006 0 . 0 392,450 SLC CLC JUN. 2005 | 490,000 T 39 07 : UNITS 1BD 2BDS 3BDS EFF MILLAGE RT LP MLS- -OTY 1 24.745700. N SELLER (S$) ==> MICHAEL ~ S ANGELL I , : ; MORTGAGE COMPANY AMOUNT DATE MTG TYPE | RATE. ' NUMBER ENTER=FWD F1l= DOCS F3=COMPS LIST IR10 RECENT DEED - PREV MTG PRESENT F1=VIEW F4=TAX F5=LEGL F7=DIM F8=MORE ADMINISTRA TIVE COMPLAINT mae’ EXHIBIT # FOLIO. 02- 32- 23- 023- 0280 PADDR 4441 / COLLINS / AV/ 3501 | CO-USE 7/.CONDO RES PCITY MIAMI BEACH | PZIPCD 33140 ZONING 41/MULTLHGH DENSITY - SUBDV FONTAINEBLEAU Ii CONDO : ST-USE 39/ HOTELS & MOTELS LIEN? = TAXCRT? ~—- LIS PEND? | UPDATE 04/24/07 LAST — FIRST OTHER i _ OCITY: MIAMI BEACH FL OZIP-CD 33140 COMPANY UNITS 3501/3503 FBYH LLC | LND SQFT LND ACRE WATERFRONT * | OR BK-PG 22955-1343 $/LANDSF S/ADISF $/TOTLSF AVRATIO 3.67 ADJSQ 516 E BEDROOMS BATHRMS 1 NUM UNITS HALF BATHS AINEBLEAU IL 4° INTIN COMMON ELEMEN UNIT 3501 5 EER REC 22955-1343 UNDIV 0.8667040% 6 COC 2532741171 01 2007 2 CONDO (2006 Water = N Homestd N Widow N | $6,141 $392,450 Road N Veteran N Disabld N | $3,011 $392,450 Sewer = N Exempt Senior N i $78,490 Light WN School N Exmpt 1 $9,153 MillRt 23.32 Markt Val $392,450 NonEx $392,450 $1,906 “PAY DATE #1 0131/07 $ 8969.590. FULL RE PAYMENT $8,969:59 | ~ $183.05 #2 02/20/07 $ 0.00 ; po: ha TOTALTAXDELINOUENT , TOTAL TAX DELINQUENT 45 ne #6 i DEED ~~ RECORDED PRICE * OR BK-BG ! CURR 01/25/07 01/31/07 $ 1,440,000 25327-1171 iD PREV 06/03/05 06/03/05 $ 490,000 23459-943 -D EARL MORT-DATE AMOUNT MORTGAGE COMPANY 06/09/05 . $343,000 WELLS FARGO BK NA Pont Ex WILLY ESCOBAR RE2 - CONDO/CO-OP/VILLA/T OWNHOUSE Southeast Florida MLS ML: F778062 BC: SHREQ1 OF: Sheridan Real Estate, Inc AREA: 22 AZON: STATUS: cs AD: 16051 COLLINS AVENUE UN:. 1802 RP: LLP: LP: $1,595,000 CT: DADE Fe: . CITY: SUNNYISL ZP: 33160 GEOAR: LG: TURNBERRY OCEAN COLONY FL#¥: 18 TOTFL: 37 BLDG#: STYLE: C42 MC: 31 TN: 22 SE: 14 SD: PN: 0000 MAP: ST: FL TIPE: conDg DV: CN: TURNBERRY OCEAN COLONY INTLVLS: 0 j MN: F$: UNIT BLG: 130 UNIT COMPLX: 260) | LA: 2,235 TA: 2,670. YR: 2006/ UC CONV: EFF: BED: 2 FBATH: 2 i HBATH: 1 /#h 1 UNIT: HIGHRISE DET: N MNLIV: DOCK SPACE#: GOVRN: CONDO GARAG: 0 CPT: 0 PARK SPACE#: WTRFR: Y/ OCNFRONT WTRAC: UNRESTRC | FACE: UNTVW: OCEAN SECUR: GUARDSTE BAL&P: Y CONST: SLAB DINE: DIN-LIV SE: i PARK: COVERED PARKING RESTRICT: FLOOR: CONCRETE MIN LS #DAY: 180 #LSE YR: 2 REM: Not only is the prestigious Tumberry name and reputation behind Turnberry Ocean Colony, but Tumberry elegance willbe . ES: built into this EXUMA residence. Superbly crafted appointments, a Private Beach Club on the Atlantic Ocean, Health Club, MS: Spa, Restaurants, Swimming Pools and Recreation Areas will be among some:of the noticeable amenities. Residences 1802 HS: will feature very spacious open.and inviting floor plan with’ expansive views of the Atlantic Ocean, Intracoastal arid Downtown Miami. Direct Oceanfront. : i 4 DIR: COLLINS AVE (A1A) AND 160TH STREET ON THE EAST SIDE YOU CANT MISS IT. l BRK-REM: SHOWING INSTRUCTIONS, DETAILS & PRESENTATION OF CONTRACT call owner 305-933-3000 fx 305-932-4554 LR: 15X20 DR: 15X30 DA: 15X20 KT: 16X17 "FR: FL: { PR: : MB: 13X17 2B: 12X17 38: 4B: DN: UR: 7X15 PB: 14X35 BEDRM: OTHER | ce: O | MSBTH: BIDET Hy PETS:Y/ RES ROOMS: GREAT : INTER: WALKCLOS 1FLENTRY ' EQUIP: RANGE-G WNDW: EXTER: WRAPPORCH MAINT: COMNAREA AMENS: CLUBHSERM HEATPOOL LIGHTING i RESTR: NONE APPRV: NONE HOPA: HEAT: CENTRAL COOL: CENTRAL i : TRMSCONSNONE . ASSUME: DAV/: SOH: MPR: N TOA: C TOTAL FEES: $1,800 iM DMV/ASV: TAXES: $0 TAXYR: 2006 TAX: NEWCONST “TM: APP FEE: $0 MAINT FEE: $0 LAND LSE: $0 RECLUSE: $0 SPEC: POSS: OTHER IDX: Y LPID: 707077 _ LS: Cliff Glansen APH: _ OPH: 954-965-3990 2PID: 2A: 2AG: FAX: 954-965-3901 © LTy: ik ON: TURNBERRY COLONY: ON#: 305-933-3000 2PH: , URL: PHOTO: —NOPHO : BRD: F EMAILA: www.sheridan-realestate.com : WD: COBA: 5% COTB: 5% CONR: 5% VAR: Y JA: VT: OCCUP: VACANT SHOW: APPT-ONLY CALL-OWN LD: 10/25/06 XD: 10/25/07 PREV STATUS: A STATUS CHNG: 12/05/06 OK ADV: Y . ti: _ PREV$: PRICE CHNG: “INET: Y/Not only is the prestigious Tumberry name and reputation behind Tumberry Ocean Colony, but Tumberry elegance will be buitt into this EXUMA ORIG$: $1,595,000 L2: resid. PD: 11/23/06 CONTING: DM: 29 FURNU CD: 12/05/06) SP: $4,595,000 ECD: 12/05/06 CB: SHREOL | SPID: 707077 SS: Cliff Glansen Si: : TR: OTHER SPID2: SS2: $2: *(¢) 2007 -- Southeast Florida Regional -- INFORMATION IS BELIEVED ACCU wy E 7 © 05:20 PM alle 5 om 24) IR1S-022 COMPARABLE MARKET ANALYSIS 061207 PAGE: 1 A PREPARED BY: PANGEAN INTERNATIONAL SUBJECT : : ; : 12-2226-024-0210 . BED BTH ADJ SQFT SL CLUC ZONING W G V LOT SIZE 10245 COLLINS AVE 1 1 1,204: oO7 07 | CORRELATED PROPERTY AVERAGES SCAN 19 FOLIOS FOR 12 MATCHES AVERAGING 2,569 SQ ET @ $245.83 /SOFT SALE-HIGH: 3,100,000 Low: 0 AVG: 631,500 AVG ASMT: 853,414 AVR 0.739 ASSESSED RATIO AMT: 294,678 ADJUSTED SOFT AVERAGE: 295,979 X PROPERTY ADDR OR NUMBER BD. BTH SQ FT DATE AMOUNT T I,LOTSZE $/SF YB AVR _ 9801 COLLINS AVE 200 0 0 1388 0507 548000 8 0 394.8 771.4 _ 9801 COLLINS AVE 19Y¥ 0 0 1983 0507 . 850000.8 Ww. 0 428.6 77 1.4 _ 10175 COLLINS AVE 2 2 1967 0507 -700000 8 | 0 355.8 82 1.1 _ 10225 COLLINS AVE. 305 3820 0507 3100000 8 | 0 811.5 04 1.2 ~ 10205 COLLINS AVE 104 a 0 3063 0407 04 0 0.0 75 0.0 _ 10245 COLLINS AVE GE 2 2 2020 0407 - - 08 0 0.0 56 0.0 _ 10155 COLLINS AVE 805 3.3 3340 0407 ° 980000 8 0 293.4 77 2.4 _ 10155 COLLINS AVE 1406 2 3 2540 0407 550000 8 | 0 216.5 77.0.8 _ 10175 COLLINS AVE 101 3. 2 2300 0407 04 W Q 0.0 82 0.0 _ 9601 COLLINS AVE 901 3 2 2260 0407 04) 0 0.0 98 0.0 _ 10225 COLLINS AVE 3°55 3820 0407 0 8 4 0 ° 0.0 04 0.0 10205 COLLINS AVE 1701 2 2 2325 0307 850000 8.4 0 365.5 75 2.0 “'X'=VIEW 'D'=DELETE FI=SHIFT DATA F4=MORE FO=ALTER SEARCH F7=SUBJECT F1O=HELP IR15 RES i t t t ADMIN iste EXHIBIT # PAGE : £00 ~~ GZ wes mtd IRL5-022 .-COMPARABLE MARKET ANALYSIS - 061207 PAGE: 2A PREPARED BY: PANGEAN INTERNATIONAL - SUBJECT : 12-2226-024-0210 BED BTH ADJ SQFT SL CLUC ZONING WG V LOT SIZE 10245 COLLINS AVE Le 1,204 07:07 _ CORRELATED PROPERTY AVERAGES . SCAN 34 FOLIOS FOR 24 MATCHES AVERAGING 2,641 SQ FT @ $330.19 /SOFT SALE-HIGH: 3,425,000 Low: 0 AVG: 871,925 AVG ASMT: 1,079,492 AVR 0.807 ASSESSED RATIO AMT: 321,657 ADJUSTED SQFT AVERAGE: 397,549 X PROPERTY ADDR OR NUMBER BD BTH SQ FT DATE AMOUNT T I LOTSZE $/SF YB AVR _ 10205 COLLINS AVE 2 2 2060 0307 o4W 0 0.0 75 0.0 _ 9801 COLLINS AVE 20x 0-0 1688 0307 4800008 | 0 284.3.77 2.3 _ 10175 COLLINS AVE 305. . 2 2 2018 0307 612500 8 w 0 303.5 82 2.0 _ 10185 COLLINS AVE 319 2 2 1356 0307 0 4 0 0.0 65 0.0 _ 9999 COLLINS AVE 8F 2 5. 3230 0307 . 08 0 0.0 90 0.0 _ 10101 COLLINS AVE 16F 24 3690 0307 3000000 2 0 813.0 94 1.6 _ 10101 COLLINS AVE CAi0 0 0 160 0307 3000000 2 0 750.094 0.0 _ 9601. COLLINS AVE 1003 2 2 2160 0307 1630000 8 0 754.6 98 1.4 ~ 10225 COLLINS AVE 305 3820 0307 3425000 8. 0 896.5 04 1.3 _ 10225: COLLINS AVE 4 6 9013 0307 50700 8 0 5.6.05 0.0 _ 9801 COLLINS AVE 0 0 1388 0207 500000 8 0.360.277 2.7- “ 9801 COLLINS AVE 19R 0 0 -1968 0207 6500008 | 0 330.2 77 1.2 'X'=VIEW 'D'=DELETE F1=SHIFT DATA F4=MORE F6=ALTER SEARCH F7=SUBJECT FLO=HELP IR15 RES: ADMINIS RATIVE ‘COMPLAINT, EXHIBIT. ¢ i cs fol anev7UZe CUM PARABLE MARKET ANAL YSIS 061207 PAGE: 3 A PREPARED BY: PANGFAN INTERNATIONAL SUBJECT : 12-2226-024-0210 BED BTH ADJ SQFT SL CLUC ZONING WG V LOT SIZE 10245 COLLINS AVE 11 1,204 07 OF | CORRELATED PROPERTY AY ER ALG E'S SCAN 51 FOLIOS FOR 36 MATCHES AVERAGING 2,451 SQ FT @ $344.64 /SOFT SALE-HIGH: 3,425,000 Low: 0 AVG: 844,616 AVG ASMT: 1,004,540 AVR 0.840 ASSESSED RATIO aMr: 334,832 ADJUSTED SQFT AVERAGE: 414,947 X PROPERTY ADDR OR NUMBER BD BTH SQ FT DATE AMOUNT T I LOTSZE $/SF YB AVR _ 9801 COLLINS AVE 20Y 0 0 1983 0207 .875000 8 W 0 441.2 77 1.4 _ 9801 COLLINS AVE 102z 0. 0 1984 0207 1000000 8 wW 0 504.0.77°1.5 _ 10185 COLLINS AVE | 1 1 1008 0207 280000 8 | 0 277.7 65'0.8 _ 9999 COLLINS AVE 4c 3-4 3520 0207 2950000 8 w 0 838.0 90 1.9 _ 9601 COLLINS AVE PH-304 4 6 3960 0207 0B | 0 0.0.98 0.0 _ 9601 COLLINS AVE c-38 Oo ol 330 0207 08°! 0 0.0.98 0.0 — 10225 COLLINS AVE _ 3°05 3820 0207 3400000 8 | 0 890.0 04 1.3 _ 10240 COLLINS AVE 205 2 2 1207 0207 -250000 8 0 207.1 57 1.3 _ 10205 COLLINS AVE 207 2 2 2060 0107 ‘725000 8 | 0 351.9°75.2.5 — 10175 COLLINS AVE 2:2 2018 0107 -: 08 0 0.0 82 0.0 — 10175 COLLINS AVE 808 2 2 1967 0107 © > OA) 0* 0.0 82 0.0 _ 10185. COLLINS AVE - 161 993 0107... 0.8 .} 0 d.0°65 0.0 {X'=VIEW "D'=DELETE F1=SHIFT DATA F4=MORE F6=ALTER SEARCH F7=SUBJECT F10=HELP TRIS ; re RES | i i i | TRATIVE COMPLAINT. Evhing “ese “ann oa ANALYSIS » 061207 PAGE: 4 A PREPARED BY: PANGEAN INTERNATIONAL SUBJECT 12-2226-024-0210 10245 COLLINS AVE 1 1 BED BTH ADJ SQFT SL CLUC ZONING WG V. LOT SIZE 1,204 07 07 | CORRELATED pR OPERTY AVERAG ES SCAN 67 FOLIOS FOR 48 MATCHES AVERAGING 2,453 SQFT @ $341.43 /SQET SALE-HIGH: 3,425,000 Low: 0 AVG: 837,381 AVG ASMT: 1,001,381 AVR 0.836 ASSESSED RATIO AMT: 333,010 ADJUSTED s x QFT AVERAGE: © 411,082 PROPERTY ADDR OR NUMBER BD BTH SQ FT DATE AMOUNT T I LOTSZE $/SF YB AVR 10185 COLLINS AVE 323 pant _ 1 993 0107 04 0 0.0 65 0.0 _ 9999 COLLINS AVE 12a 3.4 3670 0107 0 4 W 0 0.0 90 0.0 ~ 10101 COLLINS AVE 19a 2 4 3110 0107. 1400000 8 0 450.1 94 1.2 _ 10101 COLLINS AVE 18D 2 3- | 2210 0107 12100000 8 0 497.794 1.4 9601 COLLINS AVE 1003 2 2 2160 0107 1000000 8 0 462.9 98 0.9 Z 10225 COLLINS AVE 3°05 3820 0107 08... 0 0.0 04 0.0 — 10225 COLLINS. AVE 3.5 3820 0107 3200000 8 | 0 837.6 04 1.3 _ 10225 COLLINS AVE: 2 4 2918 0107 - 1700000 8 i 0 582.5 04.1.3 _ 10205 COLLINS AVE 1003 0. 0 1735 1206 635000 8 : 0 365:9.75 1.3 _ 9801 COLLINS AVE 15E 0 0 1388 1206 600000 8 0 432.2 77 1.6 _ 9801 COLLINS AVE . . 0 0 1688 1206 -40600 8 i 0 24.0 770.1 _ 9801 COLLINS AVE 202 - 0 0 1984 1206 112500 4 WwW ie] 56.777 O.1 'X'=VIEW 'D'‘=DELETE FI=SHIFT DATA F4=MORE F6=ALTER SEARCH F7=SUBJECT. F10=HELP IR1S . : : : RES ALIMIPES IVE COMPLAINT EXHIBIT # z _. PAGE 20 Vr Se 24S Looz-unr-Zb A t 200Z. ISIMHOIH'FSN.LSWa Lig # ony sumoogzz0l zr |b t ‘ ooo'6ez$.. SNOH YNOgYWH MAN SHL (24 VO .¥b6L6110 Z x lL 900Z.-«S« ASGOTISNISVA «OZ HAV SNITIODSZZ0L 270 0 @ Zz g00'sz8s JSNOH YNOGUVH =—_& vy 0 g0rerLLN 9 A L 9002 «= ASGOTISNLSWS = OLYL #AAV SNITION $Zz0l «2@vO OF Ob 1. 000's68s 3SNOH UNOPUVH =—_2 Vv 0 PrEOPLIN. 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Lz9gZ0bW g 6zersolW a Fi -— NOT ~ FEL 4 2ooz-unr-FL plL ooo'ses'ts 6z 000's6s' L$ ose o00'sge'l$ got 000'66z'bS LEE 000'0s1"tt ar: floorplans. suites el enn sent IES ea et LETTE etter tO gee all gant FLOORPLANS | EXECUTIVE SUITES HOTEL TOWER UNIT SOUTH 1 REQRDOM, DEN & 2 BATHS LVING 1479 SQFP 370 ae FOTAL 1,930 SQFT 19.3 faack TO KEYP ab t RESET ZOGM maun-itwarw stregisresidences.com/balharbour/executive.him floorplans_suites nonsense NEE NTE S ome ae _aepenerngeeE ET EXECUTIVE SUITES FLOORPLANS seit HOTEL TOWER [SOUTH | EXECUTIVE SUITE : ase fa cONY 225 0°T 208 18 ONY 1057 SOFT aba RSION is EAT BT BERR TERRACE FOS 2ATIVE COMPLAL OF “hee waneer otreamicresl dences.com/balharbour/exe: we be cutive hime - pane 2S“ 60 Fegan Pagel of f HOTEL TOWER | SOUTH T BEDROOM, DEN a ATH WG Md WOW rie bALCONY niu 7 GT REGIS i x fl © i : i nn _——_RRSORTE RESIDENCES BAER a CG t ive Pron eer 6/30/3007 Ext 7 http://www stregisresidences.com/balharbour/flashpapers/unit_h_s.s PANGEAN INTERNATIONAL : 12-2226-037-0420 AVE 8C 1 COLLINS 2,050 304.87 1.32 THE PALACE AT BAL HAR OUR CONDO- UNIT 8-C UNDIV 0.5831 3 : 0.00SQF INT IN COMMON ELEMENTS ; OFF REC. 16511-3228 473,392 230.92 06 25000 SEP. 1999 625,000 1 DEC. 1994 442,000 1 611,150 NON. PUB i 21.649700 N 7; BIRSAY HOLDINGS LIMITED - 920,000-122804 “CON FIXED a F6=COMPS MENU or 7 . , . Wi CUMELAINT. “Cy . i f f 5 1s) acm tal NA cane teeter ete eRe, tz Date/Time JUN-28-2007(THU) 10:54 Jun 28 07 10:55a _ Juan Castellanos 9.1 03-2526 3014040784 Flea 3558923 EO7-0117 THE NEW NARSOUR HOUSE Ungt 1119° NOT ver. exescors Percet w |12:2225.008° NOT VET ABSIGNED Proc Rigtt Apprpted EklFeesioe [) teased } citer (deseste} Project Tre BE cons (] pur [1] seopersive ° lana Same sosoarTE Efioctive Date of Appestess Under Review 08/14/2007 Menufecsued Hore (“] vex £2] No Lancerttant WASINGTON WTUNEAPORARET $0081 ‘ LF Nex Apoticante Yeu. provide a briet mumenary. If Mo, eo FROM THE ruc. appraisal O93. I so Ves, provicn a bier - ‘ADOENGA opinion: of. ert sete ie spent report we revieu Seeuraen 128. of he attictirs date of the apyiraiaat reper? Freddie Nic Fer 108% March 2006 Page to04 : ALUM AES EXMMHGIT HEGT PAGE Evhibh P.QUL Bi pane Co TR10-01 PANGEAN INTERNATIONAL FOLIO. NUMBER: 02-3223-023-4600 4401 COLLINS AVE 3617 OWNER'S NAME AND ADDR ENTER=FWD F1=DOCS F3=COMPS LIST TR10 RECENT DEED - PREV MTG PRESENT FI-VIEW COMPARED TO: 4401 COLLINS AVE 2015. 061407 PAZIP BED BTH HB BUILT ADJ SQFT ‘$/SQFT AVR 33140 0 1 0 °2005 491 2576.37 3.32 WG VP FLR CONSTRUCT. ZONING = LV SOFT FOUNTAIN LLC 0 * N/A * 41. - RM-125 0 9 FIR DR LEGAL DESCRIPTIO N GREAT NECK NY 11024 FONTAINEBLEAU ‘II CONDO UNIT 3617 LOT SIZE ==> ISc COUNTY — UNDIV 0.82471253 0.00SQF. INT IN COMMON ELEMENTS LOT TYPE => ; OFF REC 22955-1343 i YEAR BUILDING LAND ASSESSMENT AS/FT YEAR TAXES D TX/FT 2006 0 0 380,560. | 775.07 06 8,875.34 N 18.07 COUNTY MARKET VALUES HOMESTD SALE DATE AMOUNT AND TYPE ‘YEAR BUILDING - LAND TOTAL 0. MAR. 2007 1,265,000 2 2006 “ Q 0 380,560 SLC CLC MAY (2005 1,025,000 2 ; 39 07 : UNITS 1BD 2BDS 3BDS EFF MILLAGE RT LP MLS-QTY 1 24.745700 N | SELLER(S)==> FB IT 3618/3617 LLC . c / . : MORTGAGE COMPANY AMOUNT ' DATE “MIG TYPE RATE” | NUMBER ‘F4= TAX FS=LEGL F7=DIM.. P8=NORE { ADMINISTRAT: VE We. c EXHIBIT ra PAGE _ MF Evhibt WILLY ESCOBAR RE2 - CONDO/CO-OP/VILLASTOWNHOUSE - _ Southeast Florida MLS ML: N1073636 BC: ILVIOL OF: IL VILLAGGIO REALTY AREA: 32 AZON: STATUS: CS AD: « 101 20 ST UN: TH-C RP: LLP: LP: $1,800,01 CT: DADE = F#: 02-32-34-153-0910 CITY: MIAMIBCH ZP: 33139 GEOAR: LG: xSETAI RESORT & RESIDENCES CONDOUNIT TH C UNDIV 0.258638% INT IN FL#¥: 15 TOTFL: 43 BLDG#: COMMON ELEMENTS OFF STYLE: 42 MC: 2 TN; 32 SE: *34 SD: #153. PN: 0910 MAP: 33432 ST: FL TYPE: CONDO DV: CN: THE SETAI INTLVLS: 0 MN: ; FS: UNIT BEG: UNIT COMPLX: ; tA: #1565 TA: 0 YR: #2004/RS CONV: EFF: BED: 2-9 FBATH: 2 -HBATH: 1 #1: 8 UNIT: HIGHRISE DET: .N MNLIV: DOCK SPACE#: GOVRN: CONDO GARAG: 1 CPT: | PARK SPACE#: WTRER: Y/ OCNFRONT WTRAC: BEACHACC i FACE: UNTVW: OCEAN SECUR: DOORMAN LOBBY SECPATRL | BAL&P: Y CONST: CBS DINE: ; SF: () PARK: VALET PARKING RESTRICT: : : FLOOR: CONCRETE - MIN LS #DAY: 1 ; #LSE YR: 365 Es: DIR: ; | BRK-REM: : 7 LR: DR: pa: ar FR: FL: | PR: MB: 2B: 3B: 4B: DN: ‘UR: ! PB: re, BEDRM: ENTRYLVL . : ce 0 MSBTH: | PETS:Y/ RES ROOMS: | : INTER: FOYER PANTRY WALKCLOS : i EQUIP: DISHWASH ~ DRYER ICEMAKER MICRO RANGE-E —-REFRIG =~“ SELFCLEAN SMOKEDET WASHER i " ' : i t WNDW: EXTER: OPENBALC ‘ MAINT: “ALLAMEN INSURANCE MANAGER PARKING SECURITY : AMENS: BAR COMMUNRM ELEVATOR EXERCISRM HEATPOOL LIGHTING SAUNA SPAHOTTB: TRASHCHL RESTR: OKLEASE APPRV: NONE HOPA: HEAT: CENTRAL COOL: CENTRAL i ; TRMSCONSCONV ; . ASSUME: DAV/SOH: $1,350,380 MPR: N ; TOA: C. TOTAL FEES: $0 JN DMV/ASV: TAXES: | «$32,788 TAXYR: 2005 TAX: CITY/CNTY T™: APP FEE: $0 MAINT FEE: $2833 LAND LSE: $0 REC LSE: $0 SPEC: : POSS: FUNDING IDX: Y LPID: 03009646 LS: Eloy Carmenate APH: _ 305-951-1846 OPH: 305-673-4808 x 222 - 2PID: 2A: 2AG: FAX: 305-673-4426 LTY: ER ON: ON#: ; 2PH: 305-951-1846 URL: ~WWW.IVRREALTY.COM ‘PHOTO: —NOPHO : BRD: M EMAILA: eloy@ivrrealty.com . WD: COBA: 3% COTB:, 3% CONR: VAR: N JA: VT: OCCUP: CLLAGT SHOW: CALL-LA LA-ACCOMP LD: 07/06/06 XD: 08/30/07 PREV STATUS: A STATUS CHNG: 11/28/06 OK ADV: N Li: PREV$: $2,200,000 PRICECHNG: 09/11/06 ORIGS$: $2,200,000 La: INET: YIDECORATOR READY 2/2.5 RESIDENCE AT THE PRESTIGIOUS SETA CONDOMINIUM FEATURING 20 FT CEILINGS, OCEAN VIEW AND MUCH MORE! : i PD: 10/13/06 CONTING: DM: 99 FURNU CD:, 11/14/06 SP: $1,700,000 ECD: 11/27/06 CB: TURNOL SPID: 3046848 SS: Joelle Oiknine es i TR: CONV SPID2: $s2: oe Stn ; AL *(c) 2007 -- Southeast Florida Regional -- INFORMATION IS BELIEVED ACC nA = COMELAINT. RRANTED* = 06/14/07 02:30 P 2 ~ Isc COUNTY UNDIV 0.16460657% 0.00SQF - INT IN COMMON ELEMENTS LOT TYPE => ; OFF REC 22955-1343 ‘YEAR BUILDING LAND ' ASSESSMENT AS/FT YEAR i TAXES D TX/ET 2006 . 0 0 800,640 816.97 06 18,672.34 N 19.05 COUNTY MARKET VALUES HOMESTD' SALE DATE AMOUNT AND TYPE YEAR BUILDING LAND TOTAL : 0 JAN . 2007 1,440,000 2 2006 0 0 800,640 SLC CLC” JUN. 21005 910,000 4 39° 007 UNITS IBD 2BDS 3BDS EFF MILLAGE RT Lp MLS-OTY 1 24.745700 N Z SELLER (S)==> MICHAEL S ANGELL I 7 MORTGAGE COMPANY AMOUNT. DATE MTG. TYPE RATE ; NUMBER F4=TAX F5=LEGL F7= DIM FaswoRE i WILLY. ESCOBAR RE2 - CONDO/CO-OP/VILLA/TOWNHOUSE _ Southeast Florida MLS ML: 1054829 BC: CBRE71 OF: Coldwel Banker Res. R.E. Inc. AREA: 22 AZON: STATUS: CS : AD: 9499 COLLINS AVENUE UN: PH4 RP: LLP: | LP: $1,080,000 | “CT: DADE F#: 14-22-35-007-0400 CITY: SURFSIDE ZP: 33154 _ GEOAR: : LG: SPIAGGIA OCEAN RESIDENCES FL#: 12° TOTFL: 12 BLOG#: i STYLE: C42 : MC: 14 TN: 22 SE: 35 SD:7 PN: 0400 MAP; ST: FL TYPE: CONDO : DV: SPIAGGIA CN: SPIAGGIA INTLVLS: .0 : MN: PENTHOUSE F$: U UNIT BLG: 101 UNIT COMPLX: : 1A: 2,162 TA: 0 YR: 2005/ NEW CONV: EFF: BED: 2 FBATH: 2). HBATH: 1 | #1: 8 UNIT: EASTUS1 PENTHSE DET: N MNLIV: ENTLEVEL. DOCK SPACE#: / GOVRN: CONDO GARAG: 2 ATT cPT: 0 ARK SPACE#: | WTRER: Y/ OCNACCES OCNFRONT WTRAC: BEACHACC : FACE: NE | UNTVW:OCEAN OTHER SECUR: DOORMAN ELEVATOR TVCAMERA BAL&P:Y : CONST: CBS NEWCONST DINE: DIN-LIV FAM-DIN SF: () PARK: 2+SPACES ASSIGNED VALET PARKING RESTRICT: . ! FLOOR: CARPET MARBLE MINLS #DAY: 180 | #LSEYR:2 | REM: NEW FROM DEVELOPER. SPECTACULAR 2-STORY PENTHOUSE. TWO BEDROOMS OVERLOOKING THE OCEAN.. HUGE ES: GRANITE COUNTERTOPS AND ITALIAN CABINETRY. IINVESTORS MS: $25,000 BONUS TO SELLING yc. AGENT! ; / i | i H i i . . a . ‘ | . DIR: COLLINS. AVENUE AND 95TH STREET ON THE OCEAN SIDE. BEACH CLUB - POOLSIDE CABANAS - 24 HOUR CONCIERGE - VALET - -LUB ROOM - FITNESS CTR W/GLASS WALL VISTAS OF POOL. JUST MINUTES AWAY FROM EVERY HO’ i ; i T SPOT IN SOUTH FLORIDA! | i BRK-REM: | LR: DR: - DA: KT: FR: FL: { PR: | MB: 2B: 3B: 4B: DN: UR: ' PB: ( BEDRM: MBRUPSTR . : : cr: Oo | MSBTH: BIDET ~ : PETS:Y/ 20+ ROOMS: DEN-OFFC ; INTER: 1FLENTRY FOYER WALKCLOS i ; EQUIP: DISHWASH ICEMAKER MICRO RANGE-E - SMOKEDET WNDW: EXTER: OPENBALC : MAINT: ALLAMEN CABLE COMNAREA ELEV PARKING PESTCNTL SECURITY TRASHREM WATER ‘ : AMENS: ELEVATOR EXERCISRM HEATPOOL POOL ! i i RESTR: DAILYRNT *APPRV: 1-2WKS' ASSOC \ HOPA: HEAT: CENTRAL COOL: — CENTRAL 4 ’ TRMSCONSCONV ASSUME: DAV/SOH: MPR: .N TOA: N TOTAL FEES: : DMV/ASV: i TAXES: $0 TAXYR: 2005 - TAG - NEWCONST T™: i APP FEE: $100 MAINT FEE: $1444 LAND LSE: $0 REC LSE: $0 SPEC: POSS: OTHER ; IDX: Y LPID: 673210 LS: Guy Sanchez APH: 305-931-8266 OPH: 305-931-8266 x 0 2PID: 0532501 2A: Mikael Brunnberg 2AG: 305-933-6860 FAX: 305-933-1141 “TY: ER ON: ON#: - 2PH: URL: www.Floridamoves.com PHOTO: NOPHO . i BRD: M EMAILA: guyrealty@msn.com WD: : COBA: 3% COTB: 3% CONR: VAR: Y JA: oo VT! http://tours3.vht.com/ebf/t107092 OCCUP: VACANT SHOW: CALLIA | LO: 04/18/06 *XD#01/17/07 PREV STATUS: PS STATUS CHNG: 12/18/06 OK ADV: N : Uae: PREVS$: PRICE CHNG: ORIGS: $1,080,000 , L2: INET: YYOCEANFRONT - EXQUISITE VIEWS - PENTHOUSE - UNSURPASSED VALUE IN-AREA OF MUCH MORE $ PER SQ FT. GREAT. FOR INVESTORS OR YOUR DREAM HOME! . 7 : PD: 08/07/06 CONTING: DM: Alt FURNUD CD: 12/15/06 SP: $1,150,000 ECD: 09/20/06 CB: HARDOi ‘SPID: 0340061 3 1 St: : TR: CONV : SPID2: $2: i *(c) 2007 -- Southeast Florida Regional -- INFORMATION IS BELIEVEDIACCURAG SUIS. NOT: WARRANTED S-no—een6/14/07 (11:32 PM PAG FOF Soe 2 DE FOLIO —14- 22- 35- 007- 0400 PADDR 9585/ HARDING / AV CO-USE 11/ RETAIL OUTLET PCITY SURFSIDE PZIP CD 33154 ZONING 60/ COMMERCIAL GEN SUBDV ALTOS DEL MARNO6 . : ST-USE 12/ MXD USESTR & RES LIEN? TAX CRT: LIS PEND? UPDATE04/24/07 : i L OADDR 9585 / HARDING / AV ; FIRST MEYER TRUS OCITY SURFSIDE FL OZIP CD33154 OTHER COMPANY 75 100 LOT B LND SQFT 7,500 LND ACR] 0.17 WATERFRONT S/LANDSF $19.00 $/ADJSF $ 14.420. S/TOTLSF $14.42 LO OR BK-PG AV RATIO * 0.09 NO 6 PB.8-106 4° “LOT SIZE 75.000 X 10 2__ N75FT OF UNNUMBERED TRACT 100 5 OR 20670-1264 0902 6 3 BY 10SFT IN NW CORNER BLK 3 6 $2006) ~ EXEMPTIONS ) $ 937,500 Water N Homestd N Widow 'N TA? $ 29,185 $ 700,814 Road N Veteran N Disabld N CITY TAX : $9,175 Total $ 1,638,314 Sewer N ‘Exempt N Senior N MISC TAX Prev $1,420,489 Light oN School! N Exmpt GROSS TAX | $ 38,359 MilIRt 23.41 Markt Val $1,638,314 NonEx $1,638,314 PREV TAX ; $ 36,771 PAY. PAYM! DESCRIPTION #1 12/05/06 $36824.780 FULL RE PAYMENT $ 36,824.78 i. $0.00 #2 ha TOTAL TAX DELINQUEN] #5 #6 DEED (6) UBK- 1 CURR 09/05/02 09/19/02 $ 145,000 20670-1264 D | PREV 06/01/88 06/01/88 ; 13788-3586 C 4/ESTATE&PROB, EARL 03/01/88 13643-528 C | 4/ESTATE&PROB, MLS 12/15/06 $ 1,150,000 BRORERHARDOT UNT MORTGAGE COMPANY $ 730,500 SUNTRUST BK/GA Moi Tr & DESCRIPTION 09/18/02 CO / CONVENTIONAL PATI POOL . FENCE 06/14/07 NISTRATIVE. COMP: EX}! RASS mot INT, Page 275 Status Price Date Agent Broker DOM. M1054829 cs $1,150,000 12/15/06 0146010 KRYSOL lil M1054829 G $1,150,000 12/15/06 0340061 ~ HARDO1 111 M1054829 PS $ 1,080,000 08/07/06 673210 | CBRE71 141 M1054829 PS $ 1,080,000 — 08/07/06 0186154 CBRE71 1d M1054829 A $ 1,080,000 04/21/06 0186154 CBRE71 i tae g H | i i : i 06/14/07 *(c) 2007 ~ Southeast Florida MLS -- INFORMATION IS BELIEVED ACCURATE BUT IS NOT. 'WARRANTEDOL: 32 eM a COMPLA ING Va . REE ~ VUNUUIGU-UOPIVILLAITOWNHOUSE ML: M1075671 BC: ACQRO1 OF: Acqualina Realty AREA: 22 AD: 17875 Collins Southeast Florida MLS AZON: STATUS: CS UN: 2704 RP:, 2 LP: $1,299,000. CT: DADE F#: 00-00-00-000-2704 CITY: SUNNYISL ZP: 33160 ~GEOAR: LG: ACQUALINA FL#: 27°“ TOTFL: 51 BLDG#: STYLE: C42 MC:0 TN: 0 SE: 0 SD: PN: 0 MAP: ST: ype: CONDO DV: Acqualina CN: Acquatina INTLVLS: 0 : MN: Cellini F$: F UNIT BLG: 247 UNIT COMPLX: 247 : LA: 2,030 TA: 2,376 YR: 2006/ NEW CONV: EFF: BED: 2 FBATH: 2. | HBATH: 1 | #1: 0 UNIT: — HIGHRISE DET: oN MNLIV: DOCK SPACE#: GOVRN: CONDO GARAG: 0 CPT: PARK SPACE#: i WTRER: Y/ OCNACCES OCNFRONT WTRAC: BEACHACC i FACE: £ | UNTVW:OCNDRECT INTRACST BAY - SECUR: DOORMAN GUARDSTE LOBBY. ! BAL&P: Y | CONST: CBS DINE: BREAKAR. DIN-LIV SF: 0 PARK: VALET PARKING RESTRICT: NORVBOAT NOTRKTRL FLOOR: CONCRETE MARBLE ’ MIN LS #DAY: 180 #LSE YR: 0 REM: Beautifully furnished condohotel York & E’Spa. When unit is not in personal use, have Rosewood lease it out for you. unit. 2br/2.5bth. A rare Opportunity to own in'a Rosewood Hotel featuring I Mulino New ES: Ms: HS: DIR: i BRK-REM: i i | LR: DR: DA: KT: FR: ' PR: : MB: “2B: 3B: 4B: DN: PB: : BEDRM: MBRGRND ENTRYLVL : CF: Oo | MSBTH: DUALSINKS SPTUBRSHW . ' PETS:Y/ RES ROOMS: : i INTER: 1FLENTRY BAR FOYER OTHER WALKCLOS WETBAR i \ EQUIP: DISHWASH DISPOSAL DRYER FIREALARM MICRO RANGE-G REFRIG WALLOVEN WASHER WNDW: EXTER: OPENBALC MAINT: ALLAMEN CABLE BLDEXTER COMNAREA ELEV MANAGER’ PARKING | PESTCNTL RESERVE ‘| AMENS: BAR BIKESTORG BUSINESS ELEVATOR EXERCISRM HEATPOOL POOL OTHER SPAHOTTB : | RESTR: OTHER APPRV: ASSOC. INTERVW - HOPA: HEAT: CENTRAL ELEC COOL: CENTRAL ELEC . | TRMSCONSCONV ASSUME: N DAV/SOH: / MPR: N . TOA: C TOTAL FEES: $0 iM DMV/ASV: i TAXES: $0 TAXYR: 2006 TAX: _NEWCONST ™: : APP FEE: $100 MAINT FEE: $2410 LAND LSE: $0 REC LSE: $0 SPEC: POSS: FUNDING IDX: Y . LPID: 0407191 LS: Michael Goldstein APH: OPH: 305-933-6666 x 0 i 2PID: 2A: 2AG: : FAX: 305-933-3446 LTY: ER ON: ON#: 2PH: URL: ~www.dcqualina.com PHOTO: | NOPHO BRD: M. EMAILA: michaelgoldstein@williamsistand.com WD: COBA: 3.0% COTB: 3.0% CONR: VAR: N JA: N VT: : : OCCUP: CLLAGT SHOW: CALL-LA CALL-LO LD: 07/27/06 XD: 01/27/07 PREV STATUS: PS STATUS CHNG: 03/27/07 OK ADV: N l4: 5 PREV$: $1,399,000 PRICE CHNG: 09/07/06 ORIGS: $1,399,000 L2: INET: Y/Acqualina os one of a kind. Unsurpassed luxury and beauty. Ps PD: 11/09/06 CONTING: “DM: 105 FURNE CD: 02/18/07. SP: $1,299,000" ECD: 11/30/06 CB: ACQROL SPID: 0407191 SS: Michael Goldstein S1: TR: CONV SPID2: SS2: $2: . . PVT S UNE 7 ; *(€): 2007 -- Southeast Florida Regional -- INFORMATION IS BELIEVED ACCURATE BUT I 06/14/07 04:32 PM a: eee | CS 9s, “a a c nw EXHIBIT 4 Price Date Agent Broker DOM M1075671 cs $ 1,299,000 02/18/07 0407191 ACQROL 105 i M1075671 PS $1,299,000 11/09/06 0407191 ACQRO1 105 : M1075671 A $ 1,299,000 09/07/06 0407191 ACQRO1 : M1075671 A $ 1,399,000. 07/27/06 0407191 ACQRO1 - D1063334 Cc $9,500 10/25/05 3096904 ROBROL : D1063334 A $9,500. 08/09/05 3096904 ROBROL : D1063334 A $8,500 o98/og/o5 3096904 ROBROL / D1063334 A $6,000 08/04/05 3096904 ROBROL | t i | H i | | | | | i i b : | i 06/14/07 *(c)_ 2007 -- Southeast Florida MLS -- INFORMATION IS ADMIN oer BE "ARARRANTED O82 ™ wey Re UNA FOLIO NUMBER: “02- 3223-023-4020 4401 COLLINS. AVE 3615 OWNER'S NAME AND ADDR COMPARED TO: 4401 COLLINS AVE 2015. 061407 PAZIP BED BTH HB BUILT Abd SQFT _$/SQFT AVR 33140 1 2 0 2005 1,066 1186.67 1.99 W GV P FLR CONSTRUCT | ZONING . LV SOFT FOUNTAIN LLC 0 * N/A * 41 — RM- 125 0 9 FIR DR LEGAL DESCRIPT IT ON GREAT NECK NY 11024 FONTAINEBLEAU II CONDO UNIT 3615 LOT SIZE ==> Isc COUNTY UNDIV 0.179051633% : 0.00SOF INT IN COMMON ELEMENTS: LOT TYPE => OFF REC 22955~ ~1343 : YEAR BUILDING LAND ASSESSMENT AS/FT YEAR TAXES D TX/FT 2006 0 0 635, 430 596.08 06 14,819.36 No 13.90 COUNTY ‘MARKET VALUES HOMESTD SALE ‘DATE AMOUNT | AND TYPE YEAR BUILDING LAND TOTAL 0 MAR. 2:007 1,265,000 2 2006 0 0 635,430 SLC CLC May 21005 1,025,000 2 39. 07 i i UNITS 1BD 2BDS 3BDS EFF MILLAGE RT LP MLS-OTY 1 24.745700 N SELLER(S)==> FB IT 3615/3617 LLC CC ' : MORTGAGE COMPANY AMOUNT “DATE : MTG TYPE | | RATE | NUMBER ENTER=FWD F1=DOCS F3=COMpPS LIST P4=TAX F5= LEGL F7= DIM: P8-MORE IR10 RECENT DEED ~ PREV MTG PRESENT F1=VIEW i i { i i i | | i | H t i 1 1 AINE WILLY ES >0BAR RE2 - CONDO/CO-OP/VILLA/TOWNHOUSE Southeast Florida MLS Mt: 51194956 BC: PRUDO4 OF: Prudential Florida WCI Realty AREA: 22 AZON: STATUS: A AD: 10295 COLLINS AVENUE . UN: 2006 RP: LLP: * LP: $1,625,000 CT: DADE F#: 1222260052006 CITY: BALHARBR ZP: 33154 _GEOAR: LG: ONE BAL HARBOUR UNIT 2006 FL#: 20 TOTFL: 26 BLDG#: STYLE: C42 MC: 12 TN: 22 SE: 26 SD: 5 PN: 2006 MAP: - ST: FL TYPE: CONDO DV: ONE BAL HARBOUR CN: ONE BAL HARBOUR INTLVLS: 0 MN: FS: UNIT BLG: UNIT COMPLX:; LA: 2,000 TA: 0 YR: 2006/ NEW CONV: EFF: BED: 2 FBATH: 2. HBATH: 1 #32 UNIT: EASTUSI1 HIGHRISE DET: N MNLIV: DOCK SPACE#: GOVRN: CONDO GARAG: 1 ATT CPT: PARK SPACE#: WTRFR: Y/ INTRACST | OCNFRONT WTRAC: BEACHACC |”. FACE: UNTVW:INTRACST OCEAN SECUR: DOORMAN GARAGE GUARDSTE’ — BALRP: CONST: CBS NEWCONST DINE: DIN-LIV — / SF: PARK: 1SPACE PARKING RESTRICT: : FLOOR: CONCRETE MIN LS #DAY: 0 | #LSE YR: 0 REM: ONE BAL HARBOUR, THE MOST LUXURIOUS TOWER. THi WATER VIEWS. ACCESS .TO OPULENT WORLD CLASS ENTRANCE TO RESIDENCE. FULLY EQUIPPED KITCHE SUB ZERO, WOLFE, MIELE JUST TO NAME A FEW. FU & FIXTURES. BEACH ACCESS AND CABANAS WITH & BEST LOCATION NE DIRECT OCEAN, INLET AND INTRACOASTAL ES: FIVE STAR HOTEL AMENITIES. PRIVATE ELEVATORS TO FOYER MS: N WITH POGGENPOHL CABINETRY, STATE OF THE ART APPLIANCES, HS: LLY APPOINTED BATHROOMS WITH THE FINEST EUROPEAN MARBLE = SERVICE TO THE BEACH.AND POOL. ALL CONTRACTS MUST BE ON FAR 9 FORMS » ! . DIR: 1 BRK-REM: : : LR: DR: ; DA: KT: FR: FL: : PR: MB: 2B: 3B: 4B: DN: UR: PB: BEDRM: OTHER . | CF: MSBTH: BIDET CBTUB&SHW DUALSINKS SPTUBRSHW : PETS:Y/ ROOMS: FAMILY. INTER: ELEVATOR ROMANTUB EQUIP: DISHWASH -DISPOSAL DRYER ICEMAKER — MICRO RANGE-E. REFRIG SMOKEDET. | WALLOVEN WNDW: : EXTER: PATIO — . MAINT: A/CMNT ALLAMEN MANAGER OUTMAINT BLDEXTER CABLE COMNAREA -ELEV HOTWATER INSURANCE LAUNDRYFC . LAWN-LAND i AMENS: BAR BIKE-JOG SAUNA SPAHOTTB TRASHCHUT BILLIARDS BUSINESS’ CABANA COMLAUND FISHPIER HEATPOOL: KITCHFAC : POOL ; : oo : ‘RESTR: NONE APPRV: 1-2WKS HOPA: N HEAT: CENTRAL COOL: — CENTRAL ‘ TRMSCONSCONV : ASSUME: N DAV/SOH: MPR: N TOA: C TOTAL FEES: $0 IN DMV/ASY: TAXES: 40 TAXYR: 2006 TAX: . NOEXEMPT TM; APP FEE: $0 MAINT FEE: $0 LAND LSE: $0 SPEC: POSS: OTHER IDX: Y LPID: 0704355 LS: Linda Gustafson "APH: §=305-335-7144 OPH: .305-932-6122 x 1503 2PID: 2A: 2AG: FAX: 305-932-6355 LTY: ER ON: ON#: 2PH: URL: PHOTO: NOPHO . ; BRD: D EMAILA: lindag@lindagproperties.com COBA: 3% . COTB: 3% CONR: 3% VAR: N JAD ON OCCUP: VACANT SHOW: CALL-LA Lb: PREV STATUS: STATUS CHNG: » OK ADV: N ef PREV$: PRICE CHNG: ORIG$: $1,625,000 ; L2:, INET: Y/DIRECT OCEAN INTRACOASTAL + INLET VIEWS FROM SPECTACULAR'5 STAR CONDO 2/2.5 LUXURIOUS. PD: CONTING: pM: FURN: cD: spe ECD: CB: SPID: SS: Sa: TR: SPID2: SS2: $2: *(c) 2007. ~ Southeast Florida Regional -- INFORMATION IS BELIEVED ACCURATE BUT.IS a ‘ NOT: WARRANTEDE ALN €06/12/07 05:55 PM a ML# Status Price Date Agent Broker 01194956 06/12/07 A $1,625,000 05/18/07 *(c) 2007 -- Southeast Florida MLS 0704355 PRUDO4 i i i i i i i i 1 AINT UN NILLY ESCOBAR RE2 - CONDO/CO-OP/VILLAM OWNHOUSE Southeast Florida MLS ML: M1066494 BC: CBRE71 OF: Coldwell Banker Res. R.E. Inc. AREA: 22 AZON: STATUS: CS AD: .1787S:COLLINS AVE UN: 1603 RP: LLP: » LP: $1,420,000 oT: DADE, F#: 31-22-11-003-1603 * CITY:SUNNYISL ZP: 33160 GEOAR: -G: ACQUALINA OCEAN RESIDENCES #1603 “| FL#: 16 TOTFLY 0 BLOG#: : , STYLE: C42 MC: 0° TN: 22 SE: 11 SD:3 PN: 1603 MAP: St: Fk TYPE: CONDO DV: ACQUALINA CN: ACQUALINA ; INTLVLS: 0 MN: DON PIETRO FS: F UNIT BLG: 52 UNIT COMPLX: i LA: 2,035. TA: «2,400 ~—- YR: 2006/NEW CONV: EFF: BED: 2 FBATH: 2. |.HBATH: 1 | #I: 8 UNIT: EASTUSI DET: N MNLIV:. DOCK SPACE#: : GOVRN: CONDO GARAG: 0 CPI: Oo. PARK SPACE#: WTRER: Y/ OCNFRONT WTRAC: BEACHACC | FACE: £ UNTVW:OCNDRECT INTRACST SECUR: DOORMAN ELEVATOR LOBBY {| BAL&P: Y CONST: CBS DINE: OTHER | 1 se 0 PARK: VALET PARKING RESTRICT: i FLOOR: MARBLE MIN-LS #DAY: 0 _ «#LSE YR: 0 REM: *****ACQUALINA Rosewood Resort Manages this Magnificent Property*****. Use this Direct Oceanfront Flow Thru Resort ES: ; Home as Often as you Want! Luxuriously Furnished in a Modern European Style . . This Don Pietro. Residence is the Best: MS: [ Priced in the Building w/2 Master Bedroom:& Bathroom Suites. Bonus Den w/Sleeper & a 1/2 Bathroom. Awesome Sunrise us: “ & Sunsets from’2 Balconies. Amenities Include 1! Mulino Restaurant & Espa. See Virtual Tour & Acqualina Web Site to View - . Features - Amenities & Floor Plan. DIR:. CONVIENTLY LOCATED NORTH OF SOUTH: BEACH & BAL HARBOUR - EAST OF AVENTURA AND SOUTH OF GOLDEN BEACH. i ; we : BRK-REM: www.acqualinaresort.com : LR: “pR: DA: KT: FR: FL: i PR: MB: 2B: 3B: 4B: : DN: UR: | PB: BEDRM: ENTRYLVL . i CF: 0 MSBTH: i PEYS:Y/ RES ROOMS: : ! INTER: OTHER . ; / i EQUIP: DISHWASH DISPOSAL FIREALARM ICEMAKER “MICRO RANGE-E —_-REFRIG SELFCLEAN SMOKEDET | WALLOVEN | ‘ WNDW: i EXTER: OTHER MAINT: ALLAMEN . AMENS: OTHER RESTR: OTHER APPRV: | APPL-FEE HOPA: N HEAT: CENTRAL ELEC COOL: CENTRAL ELEC : TRMSCONSCONV ASSUME: DAV/ SOH: MPR: N TOA: N TOTAL FEES: $0 DMV/ASV. “TAXES: $0 TAXYR: 2006 TAX: | OTHEXEMPT TM: APP FEE: $0 MAINT FEE: $2400 LAND LSE: $0 REC LSE: $0 ” SPEC: AS-IS POSS: OTHER IDK: Y LPID: 0684314 LS: Laura Fortino . APH: 305-778-7913 "OPH: 305-931-8266 x 0 2PID: 2A: 2AG: FAX: 305-933-1141 LTY: ER : ON: ON#: 2PH: 305-778-7913 URL: PHOTO: —NOPHO : : BRD: M EMAILA: Laurafortino@aol.com : wD: COBA: 3% COTB: 3% CONR: VAR: ON JA: Vie http://tours3.vht.com/cbf/t108267 OCcCcUP: CLLAGT SHOW: APPT-ONLY CALL-LA LD: 06/13/06 XD: 06/12/07 PREV STATUS: A STATUS CHNG: 05/29/07 OK ADV: N Li: PREV$: $1,350,000 PRICE CHNG: 12/28/06 ORIG$: $1,400,000 L2:) TNET: Wbest piles Fumished Oceanfront 2/2.5 + Den. Use as Often as You Want. Awesome Sunrise & Sunsets: from Expansive Balconies. Features II lulino & Espa. : . i PD: 05/29/07 CONTING: — DM: 350 FURNU CD: 05/29/07-- SP: $1,365,000 ECD: 05/29/07 CB: AMTYOL SPID: 3083838: SS:. Nicola Worsnop i si: TR: CONV SPID2: $S2: “06/14/07 . 04:32 PM __ Pade. Lae ML# Status Price Date Agent Broker DOM | M1066494 cs $1,365,000 05/29/07 3083838 AMTYO1 350 / M1066494 A $ 1,420,000 05/08/07 0684314 CBRE71 M1066494 PS $ 1,420,000. 04/12/07 0684314 CBRE71 303 © M1066494 A $ 1,420,000 12/28/06 0684314 CBRE71 M1066494 A $ 1,350,000. 10/03/06 0684314 CBRE71 i t i : : i | if 06/14/07 *(c) 2007 — Southeast Florida MLS -- INFORMATION IS BELIEVED ACCURATE BUT AS: BNE Dy NOT, WARRANTED 01:32 2M i NT WILLY ESCOBAR RE2 - CONDO/CO-OP/VILLAIT OWNHOUSE 8 EEO NMILLA/TOWNHOUSE Southeast Florida MLS ML: F778062 BC: SHREOI OF: Sheridan Real Estate, Inc AREA: 22 : AZON: STATUS: CS AD: 16051 COLLINS AVENUE UN: 1802 RP: LLP: » LP: $1,595,000! CT: DADE FH: CITY:SUNNYISL ZP: 33160 GEOAR: LG: TURNBERRY OCEAN COLONY FL#: 18 © TOTFL: 37 BLDG#: STYLE: C42 MC: 31 TN: 22 SE: 14 sp: PN: 0000 MAP: ST: FL TYPE: CONDO Dv: CN: TURNBERRY OCEAN COLONY “ INTLVLS: 0 : MN: F$: UNIT BLG: 130 UNIT COMPLX: 260 | ; LA: 2,235 TA: 2,670 YR: 2006/UC CONV: EFF: BED: 2 FBATH: 2. HBATH: 1 ‘| #11 UNIT: HIGHRISE DET: N MNLIV: DOCK SPACE#: GOVRN: CONDO GARAG: 0 cPT: 0 PARK SPACE#: WTRFR: Y/ OCNFRONT . WTRAC: UNRESTRC : FACE: UNTVW: OCEAN SECUR: GUARDSTE BAL&P: Y CONST: SLAB . DINE: DIN-LIV SF: G PARK: COVERED PARKING RESTRICT: : FLOOR: CONCRETE MINLS #DAY: ig0* #LSE YR: 2 REM: Not only is the Prestigious Turn! Colony, but Turmberry elegance will be ES: built into this EXUMA residence. HS: ing-floor plan: with expansive views of the Atlantic Ocean, Intracoastal and S: . : i : DIR: COLLINS AVE (A1A) AND 160TH STREET ON THE EAST SIDE YOU CANT MISS IT. i BRK-REM: SHOWING INSTRUCTIONS, DETAILS & PRESENTATION OF CONTRACT call owner 305-933-3000 fx 305-932-4554 LR: 15X20 DR: 15X30 »DA: 15X20 KT: 16X17 FR: FL: : PR: : MB: 13X17 2B: 12X17 3B: 4B: DN: UR: 7x15 | PB: 14X35 BEDRM:° OTHER oa MSBTH: BIDET PETS:Y/ RES ROOMS: GREAT ‘INTER: | WALKCLOS.. 1FLENTRY EQUIP: —RANGE-G i WNDW: EXTER: WRAPPORCH MAINT: COMNAREA AMENS: CLUBHSERM HEATPOOL UGHTING RESTR: NONE : . : APPRV: NONE HOPA; HEAT: — CENTRAL COOL: CENTRAL ' : TRMSCONSNONE ASSUME: DAV/SOH: MPR: N. TOA: C TOTAL FEES: $1,800 /M DMV/ASV: TAXES: $0 TAXYR: 2006 TAX: NEWCONST T™: APP FEE: $0 MAINT FEE: $0 LAND LSE: $0 REC LSE: $0 SPEC: ; . POSS: OTHER | - IDX: LPID: 707077 LS: Cliff Glansen APH: OPH: 954-965-3990 2PID: 2A: ~ AG: FAX: 954-965-3991 LTy: LR GN: TURNBERRY COLONY ON#: 305-933-3000 2PH: URL: PHOTO: NOPHO i BRD: F EMAILA: www.sheridan-realestate.com . WD: COBA: 5% COTB: 5% . CONR: 5% VAR: Y JA: VT: OCCUP: VACANT SHOW: APPT-ONLY CALL-OWN LD: 10/25/06 XD: 10/25/07 PREV STATUS: A STATUS CHNG: 12/05/06 OK ADV: Y PREV$: PRICE CHNG: ORIG$: $1,595,000 INET: Mot only is the prestigious Turnberry name and reputation behind Tumberry Ocean Colony, but Turnberry elegance will be built into this EXUMA resid. r PD: 11/23/06 . CONTING: DM: = 29 FURNU CD: 12/05/06: | ‘Sp: $1,595,000 - ECD: 12/05/06 CB: SHREOL SPID: 707077 SS: Cliff Glansen i TR: OTHER SPID2: $S2: 3 ve gerne: cons ph —_ 06/14/07.—-01:32 ce Spee ee rneenneenmnamnnmaaaaa . *(c) 2007 — Southeast Florida Regional ~ INFORMATION IS BELIEVED ACCURATE :BUT IS NOT WPewanre ne Rx Date/Time SUN-28-2007(THU} 10:54 4U7 568 1860 iu . : Jun 28 07 10:55a Juan Castellanos 407-568-1860 p.2: IIB 4 SS800Zs ENT One-Unit Residential Appraisal Field Review Report fae SECTION U . COMPLETE ORLY IF REVIEW APPRAISER ANSWERS “NO” TO QUESTION 10 IN SECTION 1: Provide detated séaaorina for disagreement wth the opition of value in the ay SEE ATTACHED AGDENCRIN Peralta! reno uncer ravine, 2 Bioto at setreardiniary etsumpsions iond (La. gross fag area, morn count. condion, etc). * SEE ADDITIONAL FIELD TEXT ADJENDA > 2. Pride e new apliton et vatse ag of efiactive Gate of the apprasal nepod Under review Using fhe Sater sufee cxreparison ormiysts gad. (NOTE: TES may or mov ck inchade tha use Gttne same Coraparatie Kisos fa he Aapretaal apon ander review.) [_siaect “[cowpanasic scat | BAL HARBOUR [ner 2 mues sou Err) eT i [$"eeece see Js mnoe aan | \ _[ eanencsemincaty : [BRN eremewRenrOR ‘Salo ar Faarcing jew ete ora rer Soncestoes jouasey tenses . Cs (a oxen? [SUBURRAWAUG | SUBURBANAVO SUBLRBANIAVG a [Fee ence free Suite rece i }CONCOMINED f [eon onindiaar Pd i [WIRERT OCEAN "Twn: oceAN Tweet oceans] : [conoomve feancoave _{__—~Teonneave—_} i CESIAVG A Y--, Hi Ja veara | wo aoa| a2 veans*new { __ROADI| i co Pd es "| Tew [oones [Gane brew fowe=| eae] [ram | as | : CS ES ES a 2 } Gras livngama —._[teoe 48, | 2050 sen | aseooltes7 saa i Beramecefinines” TNONE ane : Rooms Below Crude |HOME Won SY -——— i const Uy PADEaUATE "fagequate : i [seatiogcooang | CENTRAL NNR __IGeNTRALAI | i | Seergy Crciert Heme! | BYANOARD. as i Geapecens [wone [kone i i ft es Cl+ ba - %| Ae 05 a og 25. s 835890 JOrem at 0.5 % 1 Baw Cais nt feenaree tra sata or trent history ofthe abave cameuratie Galea # nat, eugiain [ T i- TE i ae wena “a? 9G 1 Ss. D44000| Crome Ace 6.7!" aS zssgoo} [eM CanPARABLE SALE] oarsean 525000 Soares} PUB. RECMLBINTEREALTYTMDPA oarte2057 Ancniyaln ef srior asta bx (anafet binary Sot the coumpecabis tales PUBLIC RECORD INOICATES NO PRIOR SALES FOR THE COMPARABLES WSTHIN THE PAST 12 MONTHS. ‘Sumumary of Value Condution Gnctoding amaiied sup; leuthe appraisal capect under review), 7 BEE ADOITIONA, FIELO TEXT ADOENDIA ~ PEROT Ihe apteton OF value Bred reason Why Te sow corparatia Eales ure betier Ion the Bales wood REVIEW APPRAISER'S OPINION OF MARKET VALUE (Requires any Kroviow appraiser snewered “No” to Quecion 10 In Section 4} | Frecate tec Form 1032 March 2005 Rx Date/Tire JUN-Z8-ZUUT7(THU) 10:54 4U7 568 1860 i i P.003 Jun 28 07 10:55a Juan Castellanos 407-568-1860. pd | } t . . oe o> zuzeaorsotons4 i One-Unit Residential Appraisal Field Review Report Flee 3580023 EDT-0117 H i The intended user or this apprateat fsid seview report is the lendenchant. + i oe i ING THE ONS-UNIT RESIGENTIAL APPRAISAL FIELD REVIEW REPORT ‘The eapraisa! review function is Important! to malntalaing tes inte inlendad 15 ald the review apptater with the development and 2._ Tha bernie appraiser must tacus his or her comments on ti '¢ enprainal repod uncter reviow and rot iacsda personal opinions about'ine Appraiser(s) who 3. The tendarichent has withheld the identity Ol the aoprainer(s) wha prepared the aporaisat report under review, untess dherwise indicated tn this report, (The review ecprsiver must eewume thet tie conditon of the property reputed in the aoproisal veportis acaurate, Unlets there & evidence to ina 5. ‘This One-Unk Residential Appratca! Field Review Report te divided inta two eections: Secton | must be compteted tor oll astignments. Section Il must be completed anly i the answer to Queston 10 in Section 13s “No” quately supported by market ovdance, Whan the fs must complate Section 11. Secause sppraisar’s opinions.can vary, the faview appraizer have conctusive evidence mat the opinion of value is not eccuraia. i ct Calthough he or she must sunmarize the averell findings: When the dstenines ‘errors exist in thie data, he of ahe must identity Conctusions ir the appreital reper undar review, and nclude tre correct information, a Torte sorenie Sector aru mended oferty Bo te positva und negutv9 weewons of tna appeal rte revi endo reper decondies, Tha Corto eppeateer must maka ner to the reader whet affoct fe defcioncies Nave on te oplaions and eonelusiorts wine appraised et Simate “Yes” 10, The review appmisar must provide specific, supporiable reasons for dizagroaing with the opinion of value In the appraisal report urnder ‘feview in response to Question 4 in Secton W. : i fire eporei ser conchsdex is rellanha (tuch as anasrumpicn tratt tha reported condition of the subject property is accurate). . : 32. “The review sgipraiser must inctide the rationala far using new Comparmtie sales, The fotowing question mus: 9° answered: Why ara these new comparable salen beter than the sates in the appraisal copen . under review? 4% The naw comparable seies provided by the review approlsar and Teportad in the sales comparisan anawyais grid must have cased.on of before tha oftettve daw ofthe Sppstisal Fenn uncer teview. Rmay ba approgiiate lo include Gata Inel was nat wallatte to the original appraise’ oo of the effective date of the origins! appreisal: however, that niormation should be reported a3 “supplementat” to the data that would have been aveiabte to the Sfiging appraser . cre ca ateny 2pnetiner must provide @ sale oF transfor history of the new comperabio sales for w miniaust of one yesr prio to Ove date of tate of re ComoaraHe Sale. The review sporbiser must analyze the sala or tronitar tala and report the effect Wary, on tha revieus spprorcers conicaiore 15, R reeieem Of an oppraiset ona wnitin.e wre ooperstive, oF PUD projact requires the review efpralcer ta and yze the project information eee SPDCESOI report unger review and common! on its Completeness 26d accurecy, - . i : 78 An sppreisal review of 3 murartactured home requires the caviow a; persisar to gscure tha! the HUD data plate information !s comect. untess insantuition. (6 the contrary is auniiable, tn such . : coses, tha feview appraiser must idertify the source cf me data, 1. The review supraizers opinion of morkel value must he “as of” the effective ciate of ine sapreiss! report unde! review. Freddie Mac Form 1032 March 2005. Page Sof4 Fann’ Mae Form 2300. lbertn 2005 “ rhe AUMINISTRATIVE. COMPLAINT. - Rx Date/Time SUN-Z8-ZUU7(THU) 10554 4U7 568 1860 mar Jun 28 07 10:55a Juan Castellanos 407-568-1860 1 One-Unit Residential Appraisal Field Review Report poe COMPARABLE Sate s4 | COMPARABLE SALE WS COMPARABLE SALES 6 rr P| | ! Hl i+ T- of pat ag OD. % [Netag 0.0 % Anatyets Of pilot tale er transter history for Ine comparable sakes Feedste Wac Foun 1032 March 2005 Fane héas Form 2000. March 2005 EXHIBIT 4 ¥ Pace IMS _ OF ——_S__ pe Zb7 RX Vate/Tine JUN-28-2U07(THU) 10:54 4U7 568 1860 BL OUS Jun 28 07 10:55a Juan Castellanos 407-568-1860 pS One-Unit Residential Appraisal Field Review Report se mane eran [FeaTure | suevecr | COMPARABLE SALEWT COMPARABLE SALES. ‘COMPARABLE SALE #& Aedrem. - 1027S COLLINS AVENUE #1110 BAL HARBOUR i A fs | Anabpeis of priot exia or transter history for the ccmmperithe sates Freddie Mac Form 7092 March 2005 Fenny Mae Ferm 2000 March 2005 ADMINIS EXH Oa poe pay Rx Date/Time SUN-28-2007(THU) 10:54 "407 568 E880 : P. 086 Jun 28 O07 10:56a Juan Castellanos 407-568-1860: p.6- ADDITIONAL FIELD TEXT SoreesOier’ SOUKLRICARQO Promey Asean 10075 COLLINS AVENUE #1140 - cy BAL HARBOUR coer; MIAMI-DADE Bate FC sp coge 39184 Aare - WRSHINGTOM MUTIALEAPPRAISEIT ASSUMPTIONS. USED THE REVIEWER MAKES AN. EXTRAORDINARY ASSUMPTION THAT THE CONDOM SUBJECT IS AS DESCAIBED IN THE ION, LIVING AREA, SEDROOM ANO BATHROOM COUNT OF THE nee GRIGINAL APPRAISAL REPORT SINCE ONLY AN EXTERIOR INSPECTION WAS COMPLETED BY THE REVIEW CONCLUSIONS 1-3 i AT THE LENDERS REQUEST COMPARABLES 1, 2 AND 3 ARE SUPPLIED. THE COMPARABLES CHOSEN BY THE REVIEW APPRAISER ARE BETTER : COMPARABLES BASED ON OVERALL LOCATION, SIZE AND CONDITION, : ICE THIS IS A CONDOMINIUM, THE INCOME APPROACH WAS NOT NEIGHBORHOOO DESCRIPNIGN: NEIGHBORHOOO DESCRIPTION Megs nll h a ee toe ; fies r : Wb bbenc% Shwh™ 5 at IO. oe Bol dor hn pill & wha To ok | 1 COMPLAINT, : Rx Date/Time JUN-28-2007(THU) 10:54 4U7 568 1860 / P.QUT Jun 28 07 10:56a Juan Castellanos 407-568-1860, p7 Fiona, 3580023 E0ra1t THE SUBJECT. COMPARABLE 1 AT «dm Couns AVENUE LAND TWO UNITS WERE SOLD TOGETHER BUT THE FOLIO NUMBERS WERI NOT COMBINED LEGALLY OW PUBLIC RECORD. THIS MEANS THE OWRER OF THOSE if HAS QEEN RECENTLY REFURBISHED AND RE! i ONLY 1496 SF ANO UNITS OF THAT SIZE ARE NOT SOMMANDING ASKING AND SELLING PRICES AS HIGH AS. COMPARASLES 1,2 AND 3, : Comparable Sales Saiecion THE ORIGINAL APPRAISER USED THREE SALES THAT ARE NOT #ASC5/3501 1S 4c BUR THFOLIO SALE. THIS SALZ 1S OVER 5.6 Bat TWO NUMBERS WERE NOT COMBINED LEGALLY ON. PUBLIC RECORD. THIS MEANS THE OWNER OF THOSE UNITS.CAN SELLEMTHER UNIT SEPARATELY FROM THE OTHER AND THE VALUE OF $1,449,000 WILL NO LONSER: ‘BE ACCURATE. ALSO, THIS.IS. AGCNDO-HOTEL WHICH MEANS THE UNITS CAN BE RENTED WHEN THE OWNERS ARE At RODUGING. . MPARABLES 1.2 ANOS: ACCORDING TO THE ORIGINAL APPRAISER COMPARABLE SALE 4 IS THE ONLY CLOSED SALE IV THE COMPLEX AND WAS USED AS THE ONLY SALE IN THE BUILDING. COMPARABLES 5 ANO 6 HAVE NOT: CLOSED AND DO'NOT SUPPORT THE VALUEOF $1,400,000, me “ : oe wi : s x : : PANGEAN INTERNATIONAL ER: 12-2226-038-0380 3601 COLLINS AVE 1003 OMPARED TO: 10101 COLLINS AVE 8E PK REALTY MANAGEMENT LLC 40 RECTOR ST 1502 NEW YORK NY 10006 MAJESTIC TOWER AT BAL HARBOUR CONDO | UNIT 1003 0.00SQF UNDIV 0.4893 : INT IN. COMMO 1,104,860 1,104,860 2 1,630,000 21.649700 N B KIRKOROV q i) a N foo) Oo x fa ~ i” oO . fo) So ° oO oO to oMoomt » PHILIP COMPLAINT. | “LAUDE DRAY )99 BRICKELL AVE 400 MIAMI FL 33131 JESTIC TOWER _AT BAL. HARBOUR CONDO UNIT 1608 UNDIV 0.509% a INT IN COMMON ELEMENTS 380 442.39 06 1,300,000 8 995,380 . : 0 4 JUL. 2005 900,000 1 MAR. 2002 699,000. 1 % 650,000. 1 906°. CON. ADJUS awe eee aN LN LINEA 12-2226-905-0010 0275 COLLINS RANCISCO MARTINEZ ELBA 10275 COLLINS AVE 1024 3AL HARBOUR FL 33154 PB 57-68 TRACT C & Dé& INCLUDING! 238143.00SQF ABUTTING LAND TO EROSION CONTROL LINE AS PER 238143.00SQFT 5.06 2545,158.20 2006 © 51,417,825 EXHIBIT # ae PAGE it GF 858,733 642, 900 669, 900 508,900 518,900 592,900 No a © @ CAWOGAN JNLERNATLONAL NIXON GEOFFRE 315 WOODLAND DR SLENVIEW IL 60025 ILY TRUST UNDIV 1.2933080% INT IN COMMON ELEMENTS. OFF REC 23683-1139. & 23716-2937 4.350700 N NAGGAR ed a F6=COMPS.. MENU PANGEAN INTERNATIONAL 3 14~2235-042-0310 JEVORAH REZLER 1595 COLLINS AVE N10C 3URFSIDE: FL 33154 UNIT N1O-C UNDIV 0.004038 INT IN COMMON ELEMENTS OFF: REC 19719-307 900,000 8 400,000 1 “24, ZELEPUKIN General. Text Addendum File No. 07-0609 Borowe/Glet_RICARD A SOUKUSAMIR EL SOuKI i Property Address 10275 COLLINS AVE : i BAL HARBOUR ~__ County" MIAMI DADE Stale FL Zp Code 33154-1474 Lender MJOP LENDER 9595 COLLINS AVE UNIT'N40-C FACES THE NORTH AND THE VIEW iS.PARTIAL OCEAN AND POOL AND THE VIEW OF THE NEXT BUILDING CALLED THE MAJESTIC TOWERS.ADDITIONAL THE LOCATION HERE ISINFERIOR TO BAL HARBOUR THE LOCATION IS SURFSIDE. : INCREASE IN VALUE AND GROWTH TO THE UNIQUE ‘BAL-HARBO! ‘ , WELL:AS ONEBALHARBOUR.COM FOR ADDITIONAL MARKET SUPPORTERS.SOLD OUT A1S1 7 SQFT UNIT FACING WEST BALHARBOUR SHOPS AND BAY 2 BEDROOMS 2 BATH $2,400,000. AT 9701 COLLINS AVE. ‘NOT FULL OCEAN + T' WITH UNLIMITED AMOUNT OF VALET PARKING ADDITIONAL IS PART OF THE UNIT. ve - A RECENTLY CLOSED SALE INSIDE THE IMMEDIATE But R iN LIVING AREA SQFT | i ING SAMLLE Form TADD — *WinTOTAL” appraisal software by até mode, inc. ~ 1-200:ALAMODE Ss asteitnit rae near Soe LOCATION MAP e No..07-0609] Page #21] Borrower/Clent RICARD A SOQUKISAMIR EL SOUKI Property Address 10275 COLLINS AVE BAL HARBOUR County “MIAMI DADE State FL Zp Code 33154-1414 Lender MJOP LENDER te Form MAP.LOC — “WinTOTAL" appraisal software by a fa mode, inc. — 1-800-ALAMODE Ex he Page 1 of 1 Subj: RE: HUD UNit 1134 - Hharbour House Date: 71212007 1:47:44 P.M. Eastern Daylight Time From: droberts@relatedgroup.com To: Willyaccessapp@aol.com 0/2005 is the Contract date on Unit 1131. Desmond A. Roberts The Related Group of Florida Contract Administrator The New Harbour House 10275 Collins Avenue Bal Harbour, FI 33154 Phone: 305 868 4710 Fax:305 868 4711 Lom Bs wi iB . i PE as 2 8 — Original Message----- From: Willyaccessapp@aol.com {mailto:Willyaccessapp@aol.com] Sent: Monday, July 02, 2007 1:36 PM : To: droberts@RELATEDGROUP.COM Subject: Re: HUD UNit 1131 - Hharbour House Hey Desmond | gotit, when. did this unit go inte contract i need to justify the low sales price even i line(31) is not similar to the 10 line . : | ov Willy Escobar Access Appraisals Group Services, Inc. Ph: (305) 265-5050 Fax: (305) 266-6060 ee See what's free at AQL.com. TRATIVE COMPLAINT EXMIBIT soe Monday, July 02, 2007 AOL: Willyaccessaps . Appraisal Quality Assurance 1301 Second Avenue M/S WMC3002 Seattle, WA 98101 11/6/07 Suyin DeCastro Guillermo Escobar 7334 SW 424 st Miami, FL 33155 | UNACCEPTABLE APPRAISAL NOTIFICATION a } a , Subject Property: Borrower: Ricardo Souki Address: 10275 Collins Ave Miami Beach, FL 33154 01-0004 Loan Number: 3014040764 2. The comparables were not accurately described. -Comp #1 was a multi-fotio(unit) sale that included two combined on public records thus, allowing the ow t Also, Comp #1 was a“ subject. 3. The comparables sales sel value. -.Comp #1 was a condo-hotel and included 2 separate units that were not legally combined; ~ Comp #2 was. 31% larger than the subject in gross tivin : : i ection was not reasonable and resulted in an unsupportable opinion of. ,630,000. NOTE: MLS was not cited as a appear to be an arms-length or “market” transaction. ~ Comp #3 was located ona significantly higher floor and was 33% larger than thé subject in terms of GLA. This Property was not.a credible substitute for the subject. : - Comp #4 was the only closed sale from within the project and it.did not support the value conclusion, : cae - Comps 5 and 6 were Pending sales from the subject project and they failed’ to support the value conclusion. : ; This has resulted in the appraisal service being rated: ADM ints RA Unacceptable-Misrepresentation. According to WaMu Ineligible Appraiser processes, a single Unacceptable-Misrepresentation rating results in an appraiser’s name being added to the WaMu Ineligible Appraiser List. An appraiser whose status becomes “Ineligible”: ¢ Will NOT receive new assignments initiated by WaMu : ¢ Will NOT have reports accepted on behalf of WaMu from mortgage brokers e. Will be PERMANENTLY ineligible : A response is neither expected nor solicited. However, if the AQA review contained a significant factual error or if Identity Theft is suspected, a response detailing the issues may be sent to us. Sincerely, WaMu Appraisal Quality Assurance ol ACCESS APPRAISALS GROUP SERVICES, INC. 7334 SW'42 STREET MIAMI, FL 33155 Telephone Number: 305-265-5050 Fax Number: 305-266-6060 70: Intemal Order #: 07-0609 STEPHANIE CELADA Lender Case #: ; MJOP LENDER Client Fie 8491 NW 17ST Main File # on form: MIAML,, FL 33126 07-0609 Other Fle # onform: SUMMARY REPORT Teléphone Number: (305) 406-3333 Fax Number: (305) 406-3344 Federal Tax ID: - 20-3286907 Alternate Number: €-Mail: APPRAISALS@MJOP.COM Employer 10: | Lender: MJOP LENDER Client: MWJOP LENDER Purchaser/Borrower: RICARD A SOUKVSAMIR EL SOUKI Property Address: 10275 COLLINS AVE City: BAL HARBOUR.“ i County: MIAMI DADE State: FL Zip: 33154-1414 Legal Description: BAL HARBOUR OCEAN FRONT ADDN PB 57-68 UNIT 1110 AKA THE NEW HARBOR: HOUSE UNIT 1110 | APPRAISAL FEE 1007 RENT SCHEDULE 216 OPERATING INCOME ESTATEMENT. CLIENT DISCOUNT FINAL INSPECTION 06/26/2007 1,125.00, Description: PAID-BY CHECK Description: Description: aan Ba Form NIV5 — “WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE Access Appraisals Group BorowerGlet RICARD A SOUKVSAMIR EL SOUKI file No. 07-0609 _| Property Address 10275 COLLINS AVE i City BAL HARBOUR County MIAMI DADE State FL. Bp Code 33154-1444 Lender MJOP LENDER ! TABLE OF CONTENTS bwoice — Building Sketch (Page - 1) Single Family Comparable Rent Schedule Appraisal Update/Compietion Report ‘Subject Photos Interior Form TOCP — "WinTOTAL" anpraisal software by a la mode, inc. — 1-800- Bomower/Cient RICARD A SOUKUSAMIR EL SOUKL BUILDING SKETCH Property Address_ 10275 COLLINS AVE (oe BAL HARBOUR County MIAMI DADE. MJOP LENDER ‘State FL Zp Code 33154-1414 BEDROOM BEDROOM Wood Lvad9 112 KITCHEN -extry PATH GLAL Floor Plan # 1110 BALCONY Net LIVABLE Area Floor Plan # (Rounded) 1496 1110 ADMINISTRAI EXHIBIT te Form SKT.BidSM — “Win TOTAL" wee sata bya aaa FE creas | BUILDING. SKETCH : , Rowe RICARD A SQUKISAMIR EL SOUKE 2 ——| Address 10275 COLLINS AVE : : L BAL HARBOUR County ‘MIAMI DADE State FL Gp Code_ 33154-1414 MJOP LENDER : Access Apnraisals Group oan ee . . SUMMARY REPORT Individual Condominium Unit Appraisal Report) re# 07-0609 is to provide the lender/client with an accurate, and adequately |, opinion of the market value of the subject property. Adgress_ 40275 COLLINS AVE Unit #1110 City BAL HARBOUR State. FL___ Zp Code_33154-1414 Borrower RICARD A SQUKUSAMIR EL SOUKI Owner of Public Record TRG-HARBOUR HOUSE,LTD _ County MIAMI DADE Legal Description BAL HARBOUR OCEAN FRONT ADDN PB 57-68 UNIT 1110 AKA THE NEW HARBOR HOUSE UNIT'1410. Assessor's Parcel # _12-2226-005-NYA. Tax Year 2006 RE Taxes $ NYA. Project Name__BAL HARBOUR Phase # 4 Map Reference 52-42-26 Census. Tract 0038.02 Occupant (“] Owner [7] Tenant _[X) Vacant Special Assessments $ NONE HOAS 970.14 (J per year Dd) per month E Provery Rights Anpraised (X) Fee Simple {J Leasonad [7] Omer (escrbe) Assi Type-_ (J Purchase Transaction _[_] Refinance Transaction Other (describe) Lender/Client MJOP LENDER Address 8491 NW. 17 ST, MIAML, FL 33126 ts the subject property curently offered for sale or has i been offered for sale in the twelve months prior tothe effective date of tis appraisal? Byes (} No Report data source(s} used, offering price(s), and date(s). _ THE SUBJECT IS UNDER CONTRACT SINCE 09/2005 FOR $1338,900. The purpose of this summary sal 1 & aid (7 cid nat analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale of why the analysis was not formed. SEE ABOVE FJ Contract Price $ 1,338,900 Date af Contract 09/03/2005 ___{s the property seller the owner Gi public record? (yes ((jNo Data Source(s) PUBLIC RECORDS \s there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on beta of the borrower? Oves No Fe} if Yes, report the total dofar amount and describe the items to be paid. : Note: Race and the racial composition of the neighborhood are not appraisal factors. i ; : =r eT Tes Sara Se 5 5 Tocation [-] Urban 6%) Suburban [_]-Rural [Property Vaues Dd inreasing (| Suble (_] Deciring | PRICE LAGE | One-Urit 85% PA Buit-tip [Over 75% [_) 25-75% Under 25% |Demand/Sunply [2 Shortage _(_] Balance (| Over Supply| $000) (yrs) _|2-4 Unt 4% Fe} Growth 0} Rapid Stable (_] Slow _-_| Marketing Time (J Under 3 mins [XJ 3-6 mths Over 6mths [775 Low |. NEW [Multi-Family 4 Neighborhood Boundaries TO THE NORTH 192 ST TO THE SOUTH 44 ST TO THE EAST ATLANTIC | 3iL+ High | 40 _| Commercial 15 %| =| OCEAN AND TO THE WEST BISCAYNE BAY. 45 “Pred 10 [Other % [Neighborhood Description’ SEE ATTACHED ADDENDUM... . H Market Conditions {inctuding support for the above conclusions) GENERAL MARKET CONDITIONS ARE INCREASING WITH SUPPLY AND DEMAND FACTORS IN SHORTAGE FOR NEW CUSTOM NEWLY CONSTRUCTED BUILDINGS, SOME OF THESE CONTRACTS WERE DONE IN 2005.LOANS DISCOUNTS, INTEREST BUYDOWN AND CONCESSIONS BY SELLERS ARE NOT UNCOMMON. | Topography TYPICAL Size_RECTANGULAR Density HIGH. . View FULL OCEAN ‘Specific Zoning Classification 50 OF- Zoning Description OF OCEANFRONT,.HOTEL,APARTMENTS: Compliance (Xj Legal Legal fionconforming — Do the zoning regulations permit rebuilding iv current density? Lives {J} Now! No Zoning [J Wegal (describe) ; ; Is the highest and best use. of subject property as improved (ar as proposed per plans and specifications) the present use? — Bel Yes {J No: tf No, describe Uiities Public Other (describe) Public Other (describe) ‘Off-site Improvements - Type Public Private Becticty “ b¢ ‘Water i] Street_ ASPHALT i Fj Gas in) NO GAS" Sanitary Sewer DX} Alley i ty id FEMA Special Rood Hazard Area Oc] Yes_{_| No_-FEMA oad Zone AE FEMA Map # 12025C0092J TFEMA Man Date_ 3/2/1994" ‘Are the uilties and off-site improvements typical for the market area? & ves No_ tf No, describe i ‘Are there any adverse site condifions or external factors (easements, encroachments, environmental conditions, land uses, etc)? {J Yes |) No_ if Yes, describe Data source(s} for project information SALES. OFFICE.PUBLIC RECORDS. i Project Description _{_] Detached Row or Townhouse (_} Garden Mid-Rise - (J High-Rise _(_] Other (describe : ina rae Hi, Subjent phase 2 es SM project Corny eel prohent ine i # of Stoies 15 FLOORS [Exterior Was CBs | of Units [451_|# of Phases i {# of Planned Phases # of Bevators 6 Root Surface CONC __|# of Units Completed 451_|# of Units 1451_|# of Planned Units Existing (7) Proposed Total # Parking — 900-+/-_|# af Units For Sale 145 _ {# of Unis for Sale 45. _ {4 of Units tor Sale Under. Construction Ratio (spaces/units) 1.5 # of Units Sold 1436 _|# of Units Sold 1436_ | of Units Sold Year Bult 1964/07 ___ [Type GAR _|# af Units Rented lo__| # of Units Rented lo__|# of Units Rented Effective Age - NEW. |Guest Parking ADEQ _(# of Owner Occupied Units [436 [# of Owner Occupied Units [436 _j# of Owner Occupied Units F4 Project Primary Occupancy Principle Residence _{_] Second Home or Recreational [| Tenant Is the developer/builder in control of the Homeowners’ Association (HOA)? {_] Yes O<) No i BS Mana Group -_["} Homeowners’ Association Developer _[X] Management Agent - Provide name of management company.__ CONTINENTAL Fo} GROUP954-925-8200 Hi Does any single entity (the same individual, investor group, corporation, efc.) own more than 10% of the total units in the project? Yes: BX] No__ lf Yes, Describe Was the project created by the conversion of existing bullding(s) into a condominium? {x} Yes_[ No It Yes, describe the original use and date of conversion. 2005, ‘Are the units, common elements, and recreation facilities complete (including any planned rehabilitation for a condominium conversion)? Yes_[_] No tftNo, describe_ is there any commercial space in the project? P< Yes (No _IfYes, describe and indicate the overall percentage of the. commercial space. 4. FOOD MARKET. Freddie Mac Form-465 March 2005 Form 1073 —“WinTOTALY appraisal software by a Ld GP. ta mode, a. —7-A00-ALAHODE ~ <<: Fannie Mae Form 1073 March 2005 con on pa segs a . : SUMMARY REPORT Individual Condominium Unit Appraisal Report File # 07-0609 Describe the condition of the project and quality of construction. COMPLETELY RENOVATED FROM A TRANSITION OF APARTMENTS TO. CONDOMINIUMS. THIS A SUPERIOR BUILDING WHERE THEY KEPT PART OF THE EXISTING SHELL AND RECONSTRUCTED A NEW. SUPERIOR HIGHRISE PRODUCT. fe] Describe the common elements and recreational facies, 2 24 HR SEC.,VALET,POOL, BEACH ACCESS, COMMON AREAS, CONCIERGE, SPA.GYM, _ Pi CLUBHOUSE, THEATER, : common elements eased to or by the Homeowners’ Association? (_] Yes_D< No If Yes, describe the rental terms and options. Is the project subject to a ground rent? CJ) Yes BI No iYes. $ per year (describe terms and conditions) PROJECT INFORM. Are the parking facilities adequate for the project size and type? [XJ Yes_[_} No tf No, describe and comment on the effect on value and marketability, [_} did &<} did not analyze the condominium project budget for the current year. Explain the restits of the analysis of the budget (adequacy of fees, reserves, etc.), or why the analysis was nat performed. _ THE CONDO DOCS WERE NOT AVAILABLE FOR THE APPRAISER'S REVIEW. Are there any other fees (other than regular HOA charges) for the.use of the project facilities? —_[_| Yes [