gene Pus yawn b Bese 18 Ath 57 STATE OF FLORIDA a DEPARTMENT OF BUSINESS & PROFESSIONAL REGULATIQN FLORIDA REAL ESTATE APPRAISAL BOARD °° YY FLORIDA DEPARTMENT OF BUSINESS & PROFESSIONAL REGULATION, Petitioner, v. CASE NO. 99-81260 DON VAN, Ol P44 Respondent. / ADMINISTRATIVE COMPLAINT State of Florida, Department of Business & Professional Regulation, Division of Real Estate (hereinafter "Petitioner") files this Administrative Complaint against Don Van (“hereinafter "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 Jaws of the State of Florida, in particular Section 20.165, Fla. Stat., Chapters 120, 455 and 475, Fla. Stat., and the rules promulgated pursuant thereto. 2. Respondent is currently a Florida state certified residential real estate appraiser having been issued license RD0002378 in accordance with Chapter 475 Part I, Fla. Stat. 3. The last license issued to Respondent was as a state certified residential real estate appraiser at 397 SW 14% Court, Pompano Beach, Florida 33060. 4. On or about October 9, 1998, Respondent prepared an appraisal report (“report”) on al ee s FDBPR v. Don Van Case No. 9981260 Administrative Complaint behalf of First Guaranty Mortgage for borrowers Assad & Rahamat Mohammed (“Mohammed”) for property located at 10851 NW 32 Ct., Coral Springs, FL. Mohammed was attempting to refinance the subject property. A copy of the report is attached hereto, incorporated herein and made a part hereof by reference as Administrative Complaint Exhibit 1. . 5. In this report, the Respondent failed to include the sale and conveyance that occurred on or about September 28, 1998 from Coral Capital Corporation to Mohammed. The sale price was $230,000, however, this was not the amount recorded with the Broward County Records. It appears that the title company paid doc stamps on the subject property equal to $184,000 when the deed was recorded, and the amount of the doc stamps should equal the purchase price. A copy of the quitclaim deed with corresponding stamp is attached hereto, incorporated herein and made a part hereof by reference as Administrative Complaint Exhibit 2. 6. Respondent also failed to note in the report the conveyance that occurred on March 19, 1998 from the former owners to Coral Capital Corporation pursuant to a default and eviction judgment, in the amount of $138,810.00. A copy of the pertinent documentation is attached hereto, incorporated herein and made a part hereof by reference as Administrative Complaint Exhibit 3. 7. The report also included three (3) comparable sales that are superior to the subject property. 8. Comparable #3 is located on a golf course with a water view, and Respondent failed to make a proper adjustment for this “view” in the report. COUNT I Based upon the foregoing, the Respondent has violated a standard for the development or 2 oe epee FDBPR v. Don Van : Case No. 9981260 Administrative Complaint : communication of a real estate appraisal or other provision of the Uniform Standards of Professional Appraisal Practice, specifically Standards Rule 1-1(a), (b) and (c); 1-5(a) and (b), in violation of § 475.624(14), Fla. Stat. COUNT II Based upon the foregoing the Respondent is guilty of having failed to exercise reasonable diligence in developing an appraisal report in violation of § 475.624(15), Fla. Stat. WHEREFORE, Petitioner respectfully requests the Florida Real Estate Appraisal Board, or the Department of Business and Professional Regulation, as may be appropriate, to issue a Final Order as final agency action finding the Respondent(s) guilty as charged. The penalties which may be imposed for violation(s) of Chapter 475, Fla. Stat., 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 a and Pass 3 additional appraisal © education courses; “Chapter 455, Fla. Stat., 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 ofi investigative costs;: ‘issuance of a ‘yeprimand: imposition of probation subj ect FDBPRv.Don Van Case No. 9981260 Administrative Complaint to terms including, but not limited to, requiring the licensee, registrant, or certificate holder to complete and pass additional appraisal education courses; publication; restriction of practice; injunctive or mandamus relief; imposition of a cease and desist order; or any combination of the foregoing which may apply. See § 455.227, Fla. Stat. and Rule 61J 1-8.002, Fla. Admin. Code. MB — SIGNED this _/ ha day of eluly. , 1999. Florida Department of Business and Professional Regulation By: Herbert S. Fecker, Jr. Director, Division of Real Estate ATTORNEY FOR PETITIONER Sunia Y. Marsh Senior Attorney Fla. Bar No. 068896 FDBPR-Division of Real Estate Legal Section 400 W. Robinson Street, N308A Orlando, Florida 32802-1772 (407) 481-5632 (407) 317-7260 - FAX PCP: CK/EC 7/99 pee ere cme bert FDBPR v. Don Van ~ Case No. 9981260 Administrative Complaint NOTICE TO RESPONDENTS PLEASE BE ADVISED that mediation under § 120.573, Fla. Stat, is not available for administrative disputes involving this type of agency action. PLEASE BE FURTHER ADVISED that pursuant to this Administrative Complaint you may request, within the time proscribed, a hearing to be conducted in this matter in accordance with Sections 120.569 and 120.57, Fla. Stat.; 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. ve File No. ae os APPRAISAL REPORT psetaegnan = PREPARED FOR: FIRST GUARANTY MORTGAGE BORROWER/CLIENT: MOHAMMED, ASSAD & RAHAMAT SUBJECT PROPERTY: 10851 NW 32 CT CORAL SPRINGS BROWARD APPRAISAL AS OF: OCT 9, 1998 PREPARED BY: DON VAN DON VAN paguntetsontennenneenens SeSs RE IES 81007B i E ‘i re Coo vee ey dv bee verte an few Property Desoriotion SUMM, ‘RESIDENTIAL APPRAISAL REPORT FilaNo. 410078 tee] Property Address 10851 NW 32 CT City CORAL SPRINGS —_ State PL ip Code 33085 4 Lege! Description CORAL SPRINGS COUNTRY CLUB SUB, PB 60-438, LOT 8 BLK U Cour BROWARD Uf] Azoovsor'e Parcel No. 48-41 -~20~01 -ce60 Tax Year 1997 RETaxes$ —_2,689,09 Special Assessments $ NA #1 Borrower MOHAMMED, ASSAD & RAHAMAGurent Owner MOHAMMED, ASSAD & RAHA Occupant: [xjOwner [ Jrenant™ {_|Vacant i Propery rights appraised [x|Fee Simple | jceaschold| Project type _{_JPUO (]Condominium (RUBIA only) HOA® NONE Mo, BA Neighborhood/Project Name Map Reference 48-41-20 Census Tract 203.040~-3 G4 Gale Price$ REFINANCE OatoofSale N/A Dosctiption and $ amt of foen chrgs/concessions to be pd by aaller WA of Lende/Client_ FIRST GUARANTY MORTGAGE Address: 4801 N DIXIE HIGHWAY, FORT LAUDERDALE, FL_ 33334 Appraiser DON VAN: Address: P.O, BOX 1836, POMPANO BEACH, FL 33061 Location Urban XjSuburban {| jRural Predominant fae Family Bu gl Present land use % Land use change Built Up {KJOver75% [_}25-78% [Under 25% | occupancy ‘yis) {Onetamity 90 [X]Notiikely (]Likely 2) Growth rate CRapia XJstabto (Slow (owner 95 150 Low 12 |2-4family 4 f{ jinprocess sd Property values (increasing [X]Stable []Declining {{_}Tenant 280 High 39 |Multl—family 3 3 ee Commercial Demand/supply (“jShortage —_{X]In balance (_]Over supply |{X]vacant (0-5%) [Get Marketing time (_JUnder 3 mos{X]3-6 mo. (JOver 6 mos. | [ vacant (over 5%) Note: Race and the racial composition of the nuighborhood are nat appralsai factors, Neighborhood boundaries and characteristics: = SAMPLE ROAD TO THE NORTH, CORAL SPRINGS DR TO THE EAST, ROYAL PALM TO THE $3 SOUTH AND CORAL RIDGE DATO THE WEST, IN THE CITY OF CORAL SPRINGS. <1 Factors thet alect the marketability of the properties in the neighborhood (prox, to emplayment & amenities, employment stabllity, appeal to merket oto.); THE SUBJECT IS LOCATEO IN RESIDENTIAL NEIGHBORHOOD, ALL NECESSARY SERVICES ARE IN CLOSE PROXIMITY TO THE SUBJECT. 3] NO UNFAVORAGLE FACTORS THAT WOULD AFFECT THE MARKETABILITY OF THE SUBJECT WERE OBSERVED AT TIME OF | INSPECTION. THE VALUE GIVEN !S OVER THE PREDOMINATE VALUE FOR THE IMMEDIATE NEIGHBORHOOD OUE 10 ITS SIZE AND UPGRADES. a By ba Market conditions In the sudject neighborhood (including support for the above conclusions related to the trand of property values, domand/eupply, oa und marketing time —— such as dats on competitive properties for sala In neighborhood, cess. of the pravalonce of sales and financing concessions ete,)| 3] THE NEIGHBORHOOD MARKET APPEARS TO BE STABLE WITH AN ACCEPTABLE AMOUNT OF HOMES FOR SALE. THE OVERALL |. GENERAL MARKET CONDITIONS APPEAR TO BE STABLE WITH SUPPLY AND DEMAND FACTORS IN BALANCE. THE TYPICAL BUYER IN Uy THE SUBJECT'S MARKETPLACE APPEAR TO BE OBTAINING CONVENTIONAL FINANCING, Project Information for PUDs (if applicable) — — is the developer/oulldar In control of the Home Owners Association (HOA)? Lyvee (Ne Approx, total # of units In the subject project: NIA . Approx. total # of unils for sale in the subject project NIA Osscribe common elements and recreational facilities: N/A Dimensions 130.00x 125.00 APPROXIMATELY Commer Lot {J¥ee [XJNo | Topography _PLAT/TYPICAL Site area —18,250°4+/~ 8Q FT Size TYPICAL Specific zoning claveilication and description RS—3 ONE FAMILY DWELLING Shape RECTANGLE. i] Zoning compliance (X]Lega! (_jLegal nonconforming (Grandfathered use) (illegal [_JNoxoning | Drainage STORM SEWER/ADEGUATE E| Highest and best veo as improved: [R)Present ute (_JOther use (explain) View RESID/AVO Uuihies Pubtio Other ‘Off-site improvements Typo ublio Private | Landecaping AVERAGE FOR AREA Electricity & Street ASPHALT. x) Oriveway Surface ASPHALT. Gas oO Curb/guiter GUTTER/CONCRETE _ {XJ (1) | Apparent sasementaNONE OBSERVED Water ® Sidewalk NONE. FEMA Speolal Flood Hazard Area {x}ves {_|No Sanitary ewer = (K] Strectlights YES itd 2) |} FEMA ZoneaH Map Date 08/13/92 Storm sewer x Altey NO FEMA Map No, 12017 CO09SF Apparent adverse easements, encroschments, special assessments, slide areas, illegal or legal nonconforming zoning uae, ete: THERE WERE NO APPARENT ADVERSE EASEMENTS OR ENCROACHMENTS THAT WERE OBSERVED AT THE TIME OF INSPECTION, GENERAL OESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION No. of Units ONE Foundation CONCRETE | Slab YES Area Ga. Ft. N/A Root fe No. of Stortas ONE Exterior Walls CBS Crawl Space NO % Finished N/A Calling ADG Type (Det/Att,) DETACHED) Roof Surface = TILE, Basement NONE Cailing N/A Walls ADQ Design (Style) FL RANCH | Guttere/Dwnspts. NONE _| Sump Pump N/A Wails. NIA Floor se] Exlsting/Proposed EXISTING | Window Typo AWNING Dampness NO Floor NIA None pad Ago (vts.) 24-1974 | Slorm/Screens SCREENS Settlement NO Outelde Entry WA ‘Unknown 4 Effective Ago (Yrs) 8 - YAS| Manufact. HouseNO Infestation NO NIA ROOMS Foyer | UWing | Dining | Kitchen Fam.Rm | Rec.Am | Bedrme} # Batha | Laundry] Other ‘Area Sq. Ft sr] Besoment | iLevel 1 AREA | 1 | 74 1 3 | 250 | AREA [230 | _ —— _ a 4Finishect area above grade contains: 9 Rooms; 3 Bedroom(s); 2.60 Baths); 2,310 Square Feet of Grose Living Area INTERIOR = Materiale/Condition HEATING KITCHEN EQUIP. [ ATTIC AMENTTIES: CAR STORAGE: 4 Floors TILE/CARPET/AV | Type CENTRAL] Refrigerator [XJ Walls DRYWALUAVO: Fuel ELECTRC| Range/Oven [X] Flreplace(s) # Oo Patlo _cov/scR [x] Nonef_] Gorago # of cars Nome Stale 9 Tim/Finish = WOQD/AVERAGE | Condition AVERAGE Disposal {X) | Orop Stair (J | Deck Attached 2 rye Bath Floor CERAMIC/AVG COOLING Dishwasher [X} | Scuttle X} | Porch COV ENTRY (X]} Detached ie Bath Wainscot DRYWALL/AVG Central YES Fan/Hood XJ | Fleor { Fenea — CHAINLINK (X}! Built-In Doors WOOD/AVERAGE | Other NONE | Microwave [J | Heated Pool POOL (| Carpor | Condition AVERAGE] Washer/Dryer [X] | Finished (| Deveway. Additional features (special energy efficient items, oto}! CERAMIC TILE FLOORS IN KITCHEN, FAMILY RM, 1 BEDROOM, FOYER & HALLS. 4 CEILING FANS. ALARM SYSTEM, INTERCOM SYSTEM. SOLAR WATER HEATER, PASS THRU COUNTER TO PATIO. 12’ DEEP POOL, Condition of the Improvamenta, depraciation (physienl, functional, and external), repaire needed, quality of cansiruation, remodeling/additlona, ete: NO FUNCTIONAL OR EXTERNAL DEPRECIATION OBSERVED, SUBJECT APPEARS TO BE IN AVERAGE CONDITION FOR THE AREA. SUBJECT HAS RECENTLY BEEN TOTALLY RENOVATED AND REFURBISHED. THE EFFECTIVE AGE IS 8 YEARS. THE REMAINING ECONOMIC LIFE {8 52 YEARS. Adverse environmental conditions (such ag, but not limited to, hazardous wastes, toxic substances, etc) present in tha Improvements, on the site, or in :{ the immediate vicinity of the subject property: NO APPARENT ADVERSE ENVIRONMENTAL CONDITIONS IN IMPROVEMENTS, SITE OR f VICINITY WERE OBSERVED AY THE TIME OF INSPECTION. “ Feagmne Mac Form 70 8-03 Aboralial Master Laat Forma ‘SOFTRYTE VAR INTERNATIONAL 714) 564-7700 PAGEL Fannie Mae Form 1004 6-93 VAN'S APPRAISAL SERVICE, P.O. 80X 1436, POMPANO BEACH, FL 33061 sf 2ST EE er roe ee Valuatior: Section SUMMAPY RESIDENTIAL APPRAISAL REPORT File No. 310078 : . : 4 ESTIMATED SITE VALUE _ =$ 75,000 Comments on Cost) ach (each as source of cost estimate, sito ESTIMATED REPRODUCTION COST NEW OF IMPROVEMENTS. value, square foot calculation and, for HUD, VA and FmHA, the Dwelling 2,310 Sq. Ft at $ 58.00 =$ 133,980 estimated remaining economic life of the property): Sq. Ft at $ 32% ESTIMATED LAND TO VALUE RATIO POOL, PATIO & PORCH = 22,000 DEPRECIATION IS STRAIGHT LINE. Garage/Carport 572 Sq.Ftat$ 25.00 14,300 PHYSICAL DEPRECIATION BASED ON THE AGE 4 Total Estimated Cost New =§ 170,280 LIFE METHOD. SITE IMPROVEMENTS INCLUDE a Less Physical Functional External DRIVEWAY, FENCING AND LANDSCAPING. SEE Depreciation 18,757 it = 18,757 SKETCH FOR SQUARE FOOTAGE & FLOOR PLAN. Depreciated Value of Improvements *As—Is* Value of Site Improvements 151,523 HIGH LAND TO VALUE RATIO IS TYPICAL OF 7,000 PROPERTY IN THIS AREA AND DOES NOT HAVE INDICATED VALUE BY COST APPROACH = 233,500 | AN ADVERSE AFFECT ON THE MARKETABILITY. : TEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3 * . ~ Ps 48-41—20-01 6660 48-41 ~20~01-1200 48-41 -20-01 6530 48-41 -20-01 -6250 - : : _ | Address 10851 NW 32 CT 2871 NW 115 TERR 3130 NW 108 OR 11230 NW 33 ST ; CORAL SPRINGS, FL CORAL SPRINGS CORAL SPRINGS CORAL SPRINGS Proximity to Subject [2 SC 6 BLOCKS SOUTHWEST 1 BLOCK SOUTH 2 BLOCKS NORTHWEST sq Seles Price $ REFINANC TS 233,500 (eee eee |S 265,000 [ees Is 220,000 . =| Price/Gross Liv, Area |$ 99.57 _[§ 86.35 peels 76.74 eels 84.94 Le Data Source and/or |{NSPECTION — |OBSERVATION OBSERVATION OBSERVATION | Verification Source _|ISC/REDI ISC/REDI ISC/REDI ISC/RED! DESCAIPTION +(=)Adj.| DESCRIPTION +(=)Adj. |" DESCRIPTION +(-)Adj. = {Seles or Financing Cee conv CONV gloom | Date of Sale/Time Eee sy G1 99/98/ }07/98/ : [AVERAGE AVERAGE AVERAGE Leasehold/Fee Simple|FEE SIMPLE [FEE SIMPLE FEE SIMPLE FEE SIMPLE {Site 16,250 +/-SQ_|14,641 +/-SF +3,000 [15,000 +/~SF NO ADJ [14,375 +/-SF +4,000 [View RESID/AVG RESIO/AVG RESID/AVG : RESID/AVG Design and Appeal [RANCH/AVG —_[RANCH/AVG RANCH/AVG RANCH/AVG Q,Quality of Construct. [AVERAGE AVERAGE AVERAGE |AVERAGE MlAge 24~1974 20-1978 NO ADJ [24-1974 23-1975 NO ADJ Condition AVERAGE AVERAGE AVERAGE AVERAGE ‘A JAbove Grade [Total] Ber] 8th | Total [Sdrms| Baths Total [Bdrms| Baths Total [Bdrms| Baths Re] Room Count {9 [s |2so [8 [4 [200 +1,500 | 9 (5 00 8 4 12.00 +1,500 /U Gross Living Area 2,310 Sq. Ft. 2,704 Sq.Ft] -6,000 3,483 Sq. Ft. 2,590 Sq.Ft | -4,000 )S. [Basement & Finished [NONE NONE NONE 8 NONE 3 |Rooms Below Grade |NONE NONE NONE : NONE Functional Utility AVERAGE AVERAGE AVERAGE AVERAGE Heating/Cooling CENTRAL CENTRAL CENTRAL CENTRAL Energy Efficient tems [STANDARD. STANDARD, STANDARD [ STANDARD a {Garage/Carport 2—CAR GARAGE |2-CAR GARAGE 2-CARGARAGE | l2—-CAR GARAGE "|Porch, Patio, Deck [COV/SCR SIMILAR SIMILAR SIMILAR Firepiace(s), etc. NONE ONE -2,000 NONE NONE ‘q [Fence, Pool, ete. POOL POOL POOL : ! POOL -3,500 = 18,000 $4,500 $ 221,500 -) | THE SUBJECT NEIGHBORHOOD AND ARE CONSIDERED COMPETITIVE PROPERTIES IN THE SUBJECTS MARKETPLACE. | CONSIDERATION HAS BEEN GIVEN TO ALL THREE COMPARABLES AS A GOOD INDICATION OF VALUE. SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3 = [Date, Price and Data Source for prior saies N/A NIA N/A N/A within year of appr. Analysis of any current agreement of sale, option, or listing of the subject property and analysis of any prior sales of subject and comparables within Jone year of the date of appraisal: THE SUBJECT HAS NOT BEEN SOLD IN THE PAST 12 MONTHS AND IT 1S NOT CURRENTLY LISTED FOR SALE. THE SUBJECT HAS NOT BEEN LISTED FOR SALE WITHIN THE PAST 12 MONTHS. INDICATED VALUE BY SALES COMPARISON APPROACH $230,000 INDICATED VALUE BY INCOME APPROACH @t Anaiicable) Estimated Market Rent$ __N/A _/Mo. x Gross Rent Multiplier = N/A=_& This appraisal made {X}‘asis" [_) subjectto the repairs, alterations, inspections or cond, listed below (J subj. to compl. per plans and specs RilConditions of Appraisal: {NCOME APPROACH WAS NOT UTILIZED DUE TO LACK OF RELIABLE AND SUPPORTIVE DATA. ClFinal Reconciliation: THE MARKET DATA APPROACH GIVES A GOOD INDICATION TO THE ESTIMATES OF VALUE, AS IT BEST REFLECTS || THE ACTIONS OF BUYERS AND SELLERS IN THE MARKET PLACE, CONSIDERATION WAS GIVEN TO ALL THREE COMPARABLES IN THE SALES COMPARISON APPROACH. :| The purpose of this appr. is to est, the market value of tho real property that is the subj, of this report, based on the above cond. & the cert, “| contingent & limiting cond., & market value definition that are stated in the attached Freddie Mac Form 439/Fannie Mae Form 1004B (Revised 6/93) 1 (WE} ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF 10/09/98, (WHICH IS THE DATE GF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT) TO BE S 230,000 A| APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED): “EH dignature On Signature nom “| Name DON VAN Name Soia (Did Not Dato ReperOigned 10/12/98 Date Repon Signed inspect Property N: State Certification # AD#0002373 State FL State Certification # State | [Br Slate Leones # State Or State License # State Freddie Mac Form 70 6-93 Apprasal Master Laser Forms, SOFTBYTE YAR INTERNATIONAL (TTA) 564-7760 PAGE 2. VAN'S APPRAISAL SERVICE, P.O. BOX 1836, POMPANO BEACH, FL 33061 - atl si t } i : CLIENT: MOHAMMED, ASSAD * RAHAMAT ° ° Property Address: 10881 NW32CT ~~ - : : City: CORAL SPRINGS County: BROWARD State: FL ZipCode: 33065 . Lender: FIRST GUARANTY MORTGAGE : ee iat . REDROOM REDROOM Pook ior W/o . PATH t ! - wee oo 7] : i BEDROOM BATH rae SEREEH 1 i : : KC LOSURE fl } . | i PATIO : , lot i _ ' 68. PAUL 3 ; . i i Room . . 7s F 4 ' j RRDROOH DAH LiHG BEDROOH : i ROOM : | Do ace - a \ LAUNDRY i | ~ eee FOYER LIVING 33! : GARAGE ROOM i i ; . 5! BATH ser The ! | 32 X 30 960 : 3X ho 120 ' a3 % Gh = Toh i L2 xX 38 456 ' 5 x ih rao) F 2310 So PE LEVLUG ARBA ' ' ; : ‘Appratsal Master Laser Forms SOFTBYTE VAR INTERNATIONAL, (714) 864.7700 i i File information No. 810078 Address: 10851 NW 32 CT CORAL SPRINGS, FL 33065 48-41 -20-01-6660 Appr Date: OCT 9, 1998 FRONT VIEW OF SUBJECT PROPERTY REAR VIEW OF SUBJECT PROPERTY STREET SCENE {5 Aadgitional Photos on Reverse Side CIENT: MOHAMMED, ASSAC (CAHAMAT : i , Property Address: 10851 NW 32 CT City: CORAL SPRINGS County: BROWARD State: FL ZipCode: 33065 Lender: FIRST GUARANTY MORTGAGE File No: COMPARABLE #1 Property Information: } 2871 NW115 TERR CORAL SPRINGS. Sale Date: 09/98/ Sale Price: $ 233,500 COMPARABLE #2 Property Information: 3130 NW 108 DR CORAL SPRINGS Sale Date: 08/98/ Sale Price: $ 265,000 COMPARABLE #3 Property Information: 11230 NW 33 ST CORAL SPRINGS Sale Date: 07/98/ Sale Price: S 220,000 E (2) Additional Photos on Roverse Side CUENT: MOHAMMED, ASSAD * AAHAMAT Property Address: toast NWazcT ~~ ~ City: ~~ CORAL SPRINGS _ County: BROWARD State: FL ZipCede: 33065 Lender: FIRST GUARANTY MORTGAGE File No: 81007B THREE CONDO CHALET CONDO PHASE FTHRU Iii CORAL SPRINGS COUNTRY CLUB SUB. (60-43) Appraisal Master Laser Forma ‘SOFTBYTE VAR INTERNATIONAL, 14) 984-7700 SV ee | ce neem | CLIENT: MOHAMMED, ASSAD * SAHAMAT Property Address: 4oss1NW32cT “~~ ~ City: — CORAL SPRINGS County: BROWARD State: FL ZipCode: 33065 File No; peace b- 3% Lagan 2 OMY oe Lad 3 ee. ar suis ae y syns Ww AISTPPTS | gh al 42ND Ss ol IM xe, 1 AUP iG] Zab poy Hass EP <= rast. 7B or 8 3 HZ otHA. 40TH ST~ oe i H aX gor “AM e piwas gat “S! 3aTH he FB = sees “Al ay casne foo. ct] “PARIS, eo 29 uNGS Pode 5 Beart woe H 5 aan... 28 SF Eginan, OVA 3 pa oe " . t t ' COMPARABLE #1 COMPARABLE #2 COMPARABLE #3 , 2871 NW 115 TERR 3130 NW 108 DR 11230 NW 33 ST CORAL SPRINGS CORAL SPRINGS CORAL SPRINGS i POSE ree eee eatin nin nn in tot Fs PHAISAL SERVICE, P.0. BOX 1836; POMPANO BEACH, Appralsal Master Laser Forms SQFTQYTE VAR INTERNATIONAL 1714) 884-7700 a &. : : ~ DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under ail 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 spacified 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 weil advised, and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with the sala. *Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are nesessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; thase costs are readily identifiable since the seller pays these costs in virtually ail safes 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 conces— sions based on the appraiser's judgment. STATEMENT OF LIMITING CONDITIONS AND APPRAISER’S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: the appraiser's certification that appears in the appraisal report is subject to the following conditions| 1, The appraiser will not be responsibie for matters of a legal nature that affect either the property being appraised or the title to it. The appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title, The property is eppraised on the bssis of it being under responsible ownership. 2, The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is included only to assist the reader of the repoit 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 the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4, The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand. 5. The appraiser has estimated the vaiue of the land in the cost approach at its highest and best use and the improvements at their contributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid if they are so used. 6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, 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 normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property or advarse environmental conditions (including the preserice of hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and has assumed that there are no such conditions ano makes no guarantees or warranties, express or implied, regarding the condition of the property. 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, the appraisal report must not be considered asan environmental assessment of the property. 7. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by other parties, 8. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice. 9. The appraiser has based his or her appraisal report and valuation conclusions for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that completion of the improvements will be performed in a workmanlike manner. 10. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can distribute the appraisal report {including conclusions about the property value, the appraiser's identity and professional designations, and references to any professional appraisal ‘organizations or the firm with which the appraiser is associated) to anyone other than the borrower; the mortgagee or its successors and assigns; the mortgage insurer: consultants; professional appraisal organizations; any state or federally approved financial institution: or any department, agency, or instumentatity of the United States or any state or the District of Columbia; except that the lender/client may distribute the property description section of the report anly to data collection or reporting service(s) without having to obtain the appraiser's prior written consent. The. appraiser's written consent and approval Freddie Mac Form 439 Sopraisal taster Laser Forms SOFTBYTE VAR INTERNATIONAL, 734) $64.7700 PAGE 1 Fannie Mae Form 10048 6.93 cl, must aiso be obtained before tne appraisal can be conveyed by anyone to the public through advertising, pubic relations, news, sales, or other media bo i FILE: 810078 | rs ie —- APPRAISER’S CERTIFICATION: The Appraiser certifies and agrees that: 1, | have researched the subject market area and hava selected a minimum of three recent sales of Properties most similar and proximate to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the market reaction to those items of significant variation. if a significant item in a comparable property is superior to, or more favorable than, the subject property, | have made a negative adjustment to reduce the adjusted sales price of the comparable and, if a significant item in a com parable property is inferior to, or fess. favorable than the subject property, | have made a positive adjustment to increase the adjusted sales price of the comparable. 2, | have taken into consideration the factors that have an impact on value in my development of the estimate of market value in the appraisal report, | have not knowingly withheld any significant information from the appraisal report and | believe, to the best of my knowledge, that all statements and infor— mation in the appraisal report are true and correct, 3, I stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the contingent and limiting conditions specified in this form. 4, | have no present or prospective interest in the property that is the subject to this report, and | have no present or prospective personal interest or bias with respect to the participants in the transaction. | did not base, either partially or completely, my analysis and/or the estimate of market value in the appraisal report on the race, color, religion, sex, 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, 5. [have no present or contemplated future interest in the subject property, and neither my current or future employment nor my compensation for performing this appraisal is contingent on the appraised value of the property. 6, Iwas not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my compensation and/or employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation, a specific valuation, or the need to approve a specific mortgage loan. 7. Ipertormed this appraisal in conformity 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 as of the effective date of this appraisal, with the exception of the departure provision of those Standards, which does not apply. | acknowledge that an estimate of a reasonable time for exposure in the open market is a condition in the definition of market value and the estimate | developed is consistant with the marketing time noted in the neighborhood section of this report, unless | have otherwise stated in the reconciliation section. 8. Ihave personally inspected the interior and exterior areas of the subject property and the exterior of all properties listed as comparables in the appraisal teport. | further cortify that | have noted any apparent or known adverse conditions in the subject improvements, on the subject site, or on any site within the immediate vicinity of the subject property of which | am aware and have made adjustments for these adverse conditions in my analysis of the property value to the extent that | had market evidence to support them. | have also commented about the effect of the adverse conditions on the marketability of the subject property. 9. I personally prepared all conclusions and opinions about the reai estate that were set forth in the appraisal report. if! relied on significant professional assistance from any individual or individuals in the performance of the appraisal or the preparation of the appraisal report, | have named such individual(s) and disclosed the specific tasks performed by them in the reconciliation section of this appraisal teport. | certify that any individual so named is qualified to perform the tasks. | have not authorized anyone to make a change to any item in the report; therefore, if an unauthorized change is made to the appraisal report, | will take no responsibility for it. SUPERVISORY APPRAISER’S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies and agrees that: | directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report, agree with the statements and conclusions of the appraiser, agree to be bound by the appraiser's certifications numbered 4 through 7 above, and am taking full responsibility for the appraisal and the appraisal report. ADDRESS OF PROPERTY APPRAISED: 10851 NW 32 CT, CORAL SPRINGS, FL 33065 APPRAISER: SUPERVISORY APPRAISER (only if required): y Signature: bn, Signature: Name: DON VAN ~ Name: Date Signed: 10/12/98 ; Date Signed: State Certification #: RD#0002378 State Certification #: or State License #: or State License #: State: FL State: ___| Expiration Date of Certification or License: NOV 1998 Expiration Date of Certification or License: ODoia (2did Not Inspect Property ena wer T — eddie Mac Form 439. . Appraisal Master Laser Forms SOFTBYTE VAR INTERNATIONAL . (714) §64-7700 PAGE 2 Fannie Mae Form 10048 6-93 (Samer “3 Data Display for Folio Number Page 1 of 2 WILLIAM MARKHAM, CFA, ASA BROWARD COUNTY PROPERTY APPRAISER Next” dapecee enemy Previous | | Assessed values shown are NOT certified values and are subject to change before final certification for ad valorem tax purposes 10851 NW 32 CT Coral Springs Legal Description CORAL SPRINGS COUNTRY CLUB SUB 60-43 B LOT 8 BLK U Property Owner Site Address 484120016660 | Millage Code | 2822 MOHAMMED,ASSAD & MOHAMMED,RAHAMAT ALBERTO 10851 NW 32 CT CORAL SPRINGS FL 33065 Property [D# Mailing Address Property Assessment Values Land | Building | Land Value AG Total Tax 24,100 | 114,710 | 138,810 : 24,100 T4710 | 138,810 | 2,717.66 w97 | 14,180 | 114,710 | 128,890 | 2,689.09 Save Our Exemptions Home Value .| Wid/Vet/Di 138,810 Sales History Date | Type Price Book | Page 98/09 | QCD | 184,000 | 29,040 | 1,282 98/03 |QCD{ 100 | 28,498 | 941 98/03 |QCD| 100 _{ 27,866 | 730 96/05 | QCD | 53,500 | 25,011] 812 87/12 | W | 180,000 | 15,080 | Adj. Bldg. S.F. “peciad Assessments harbage ant Yeainage | saprovement | R —_ ty, http://www. bepa.net/bepa/owa/results.folio_red?fol_ num=484 120016660 5/6/99 comme meee oe me js i OF JUL 18 AMIE 57 98-697677 T#HOO1 eee 12-03-98 2:56PM . $s 1288. 00 This Instrument prepared by: DOCU. STAMPS-DEED Jerome R. Schechter, P.A. 315 S. 3. 7th Street First Ploor Ft. Lauderdale, FL 33301 COUNTY ADMIN. v GRANTEES’ §.S. #_335-71-9265 (ASSAD MOHAMMED) ~ 595-16-4466 (RAHAMAT ALBERTO MOHAMMED) TAX FOLIO # 20-01 ~ + RECVD. BROWARD CNTY THIS QUIT-CLAIM DEED executed this _28th_ day of September, A.D. 1998 by CORAL CAPITAL CORPORATION, a Florida corporation, whose post office address is 315 Southeast 7th Street, First Floor, Fort Lauderdale, Florida, 33301, first party, to ASSAD MOHAMMED, a single man and RAHAMAT ALBERTO MOHAMMED, a single man, whose post office address is 10851 Northwest 32nd Court, Coral Springs, Plorida, 33065, second party: 282 | od0%062X8 . Wherever used herein the terms “first Party" and "second party” shall include singular and Plural, heirs, legal F representatives, and assigns of individuals, and the successors and : assigns of corporations, wherever the context so admits or requires.) WITNESSETH that the said first parties, for and in i consideration of the sum of $10.00 in hand paid by the said second party, the receipt whereof is hereby acknowledged, does hereby remise, release and quit-claim unto the said second party forever, I all the right, title, interest, claim and demand which the said f first parties have in and to the following described lot, piece or parcel of land, situate, lying and being in the County of _Broward State of Florida , to-wit: . Lot 8, Block U, CORAL SPRINGS COUNTRY CLUB SUBDIVISION, according to the Plat thereof as recorded in Plat Book 60 at Page 43 of the Public Records of Broward County, Florida . TO HAVE AND TO HOLD the same together with all and singular the appurtenances thereunto belonging or in anywise appertaining, and all the estate, right, title interest, lien, equity and claim whatsoever of the said first party, either in law or equity, to the bee only proper use, benefit and behoof of the said second party vos ow" forever. NB: THIS PROPERTY IS NOT THE HOMESTEAD OF THE FIRST PARTY. womens S$ WHEREOF the said first party has signed and sealed r these présents the day and year first above written. ‘ ed and delivered P of: hea CA CORPQRATION —_—— p Ferome eo. By: Peter a STATE OF FLORIDA ) dss COUNTY OF BROWARD ) bs Bs The foregoing instrument was acknowledged before me this 28th day of September 1998 by PETER PAWLYSZYN, President of CORAL .» who is personally known to me or who has produced Pe¢r as identification and who did take an oath, + . . U- 16> 9s NOTARY PUBLIC Print Name: Christine Anietlo My commission expires: ah Ply CHRISTINE ANIELLO fy commasion # Cc 560870 RECORDED it THE OFFICIAL RECCADS BOUK, ab; : Bebe tee i ~ OF BROWARD COUMEY, FLORIDA, A ForeS xTANNC BONDING CO.,INC, = COUNTY ADADNISTRATOR, : \ Rader = ramen BLACKSTONE Local Sars, Ine. Hebrpestran) a) lan) PU Laneerdeia Porn Bt This instrument prepared by: JEROME R. SCHECHTER, P.A. 315 S.E, 7TH STREET, FIRST FLOOR, FORT LAUDERDALE, FL, 33301 war Tis, But Chat Bees passe! sip aatbss sittthe OA ang mex bal «by WEATERINCTON, his wife, of 10851 N.W. 32nd Gourt, Coral Springs, Fl, 33065, CORAL CAPITAL CORPORATION, whose peat office address ia 315 SE. 7th Street, Piret Floor, Fort Lauderdale, FL, 33301, Grantee Witreswe thy: Tac we said Grantor. for and in cansideration of thesumal$_ 10.00 in hand paid by the said Grantee, the receipt whereof ia hereby acknowledied, does hereby romiae, release and quit-claim unto the said Grantee forever, all the right title. interest, Claim and demand which the ruil Creator has in and tothe following described lot piece or parcel of land, situate, tying + and being in the County of Broward » State of Florida, to-wit Lot 8, Block U, CORAL SPRINGS COUNTRY CLUB SUBDIVISION, according to the Plat thereof, as recorded in Plat Book 60, Page 43, of the Public Records of Broward County, Florida. : a/k/a 10851 N.W. 32nd Court, Coral Springs, FL, 33065 folio # 8120 01 6660 : Do Have and to Wold ire same together with ail and singular the apurtenances thereunto belonging or in anywise appertaining, and ai) the estate, right, title, interest, lien. equity and claim whatsoever of | the said Grantor,either i in law oF equity, to the only proper use, benelit and behoof of the said Grantee forever, “Grantor” and “Grantor” are used [or singular or plural, aa context requires. Bu Bitness Wherent, cranor hereunto set Grantor's hand and seal the day and year first above written. {77s - STATE OF FLORIDA d COUNTY OF BROWARD ) I HEREBY CERTIFY that on this day before me, an officer duly qualified to take acknowledgments, personally RECORDING BOX appeared MARY ALICE JORDAN, JORN CHARLES WEATHERINGTON and TAMMY BROWN WEATHERINGTON to me known to be the persons described in and who executed the foregoing instrument and acknowledged before me that they executed the same. Fite8S my hand and official seal in the County and State last aforesaid this 19th day 8. DOCUMENTARY STAMPS: TEGORDED IN THE OFFICIAL RECOROS "4% OF BROWARD COUNTY, FLOR:24 ia COUNTY ADMIMISTRAT Gn 2G J9d96102 38 \ 9) . . ; . 98-44 1697 THe | k 27-24-98 aisy Fem IN THE COUNTY COURT IN AND FOR BROWARD COUNTY, FLORIDA CCRAL CAPITAL CORPORATION, CASE NO.: 98-010908 (52})'~* i 1 i Plaintiff, | | vs. * \ MARY ALICE JORDAN, JOHN CHARLES WEATHERINGTON i and TAMMY BROWN WRATHERINGTON and all others in possession, oO ss : Defendant (s) . ee} / $5. } z s: : THIS CAUSE coming on to be heard this day upon Motion 7f the { | Plaintiff for Default Judgment for Eviction and the Court having, 2 ys: considered the Summons and Complaint and finding that the 7 | F Defendant(s) has (have) been duly served and defaulted iff re fi ; accordance with the law and that Plaintiff ia entitled to a Defaule oe ' ' Judgment for Eviction herein and being otherwise advised in the~ premises, it is of ORDERED AND ADJUDGED as follows: { . i. That Plaintiff be and is hereby granted a Default Judgment . 2 £ shall kave and recover judgment against ne Defendant(s} for costs herein in the amount of $167.C0 for all £ which let execution issue. A | ~ DONE AND ORDERED in Chambers ee fort Lauderdale, Broward