STATE OF FLORIDA yi «f A DEPARTMENT OF BUSINESS & PROFESSIONAL REGULATION " ‘/y SA FLORIDA REAL ESTATE APPRAISAL BOARD —- > 9 FLORIDA DEPARTMENT OF BUSINESS & PROFESSIONAL REGULATION, DIVISION OF REAL ESTATE, Petitioner, v. CASE NO. 2001500532 CLAYTON A. THOMPSON, Respondent. / ADMINISTRATIVE COMPLAINT The Florida Department of Business & Professional Regulation, Division of Real Estate ("Petitioner") files this Administrative Complaint against Clayton A. Thompson (“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 certified residential real estate appraiser having been issued license 262 in accordance with Chapter 475 Part II of the Florida Statutes. 3. The last license the State issued to Respondent was as a state certified residential real estate appraiser at 5172 Higel Avenue, Sarasota, Florida 34242. 4. Atall times material, Respondent supervised Kyle F. Long, a registered trainee real estate Case No. 2001500532 FDBPR v. Clayton A. Thompson Administrative Complaint appraiser. 2001, Respondent, Clayton A Thompson, performed and. inafter 5. On or about July 31, 25* Street, Sarasota, FL 34231 (here raisal on property jocated at 1020 ort is attached hereto and incorporated herein as Exhibit communicated an app refer to as the property). Acopy of the Rep 1. 6. The property contained two units, each being, 4 two-bedroom, one-bathroom apartment, occupants paid a monthly rent of $450. come approach evaluation on the property. and allegedly 7, Respondent completed an in appraisal report, sales compar: able section, that Gross Monthly g. Respondent reports in the ) on the property as being 83.00. g file, on property Rent Multiplier (GRM oner, a complete copy of his workin 9. Respondent delivered to Petiti appraised. file the computations, data, or basis to 10. Respondent failed to document in his working conclude that the GRM was 83. y value, based on the income approach, Respondent used a GRM. 11. To determine property a, or basis to of 98. s working file the computations, dat 12. Respondent failed to document in bi cluded that the GRM was 98. Respondent concludes that market rent for the property is to increase con 13. To determine GRM $900 to $1500, per month. s working file, the basis for a monthly rent increase of from an actual rent of 14, Respondent failed to document hi FDBPR v. Clayton A. Thompson Case No. 2001500532 Administrative Complaint $600 or 67%. 15. Respondent failed to keep a workfile with the data and other documentation necessary to support the appraiser's opinion and conclusions. 16. In the appraisal report of property, Respondent’s use of two different GRM, and failed to keep a workfile with the data and other documentation necessary to support the appraiser’s use of two different GRM. 17. Respondent failed to disclose assumed hypothetical conditions that rent on property would increase from $900 to $1500, a 66% increase and its impact on value. COUNT I Based upon the foregoing, Respondent is guilty of having failed to exercise reasonable diligence in developing an appraisal report in violation of Section 475.624(15), Florida Statutes. COUNT II Based upon the foregoing, Respondent has violated a standard for the development or communication of a real estate appraisal or other provision of the Uniform Standards of Professional Appraisal Practice in violation of Section 475.624(14), Florida Statutes. WHEREFORE, Petitioner respectfully requests the Florida Real Estate Appraisal Board, or the Department of Business and Professional Regulation, as may be appropriate, to issue a Final Order as final agency action finding the Respondent(s) guilty as charged. The 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 FDBPR v. Clayton A. Thompson Case No. 2001500532 Administrative Complaint administrative fine of up to $5,000 for each count or offense; imposition of investigative costs; issuance of a reprimand; imposition of probation subject to terms including, but not limited to, requiring the licensee, registrant, or certificate holder to complete and pass additional appraisal education courses; publication, or any combination of the foregoing which may apply. See Section 475.624, Florida Statutes and Rule 61J1-8.002, Florida Administrative Code. The penalties which may be imposed for violation(s) of Chapter 455 of the Florida Statutes, depending upon the severity of the offense(s), include: revocation of the license, registration, or certificate; suspension of the license, registration, or certificate for a period not to exceed ten (10) years; imposition of an administrative fine of up to $5,000 for each count or offense; imposition of investigative costs; issuance of a reprimand; imposition of probation subject to terms including, but not limited to, requiring the licensee, registrant, or certificate holder to complete and pass additional appraisal education courses; publication; restriction of practice; injunctive or mandamus relief; imposition of a cease and desist order; or any combination of the foregoing which may apply. See Section 455.227, Fla. Statutes and Florida Administrative Code Rule 61J1-8.002. a SiC Florida Department of Business and Professional Regulation By: Jason Steele Director, Division of Real Estate SIGNED this 2 __ day of _Fetoe vary. , 2004. FDBPR v. Clayton A. Thompson Case No. 2001500532 Administrative Complaint ATTORNEY FOR PETITIONER, A. Santana, Senior Attorney Fla. Bar No. 318360 Division of Real Estate Legal Section 400 W. Robinson Street, N801 Orlando, Florida 32801-1757 (407) 481-5632 (407) 317-7260 - FAX PCP: PB/MC/CK 2/04 NOTICE TO RESPONDENTS PLEASE BE ADVISED that mediation under Section 120.573 of the Florida Statutes, is not available for administrative disputes involving this type of agency action. PLEASE BE FURTHER ADVISED that pursuant to this Administrative Complaint you may request, within the time proscribed, a hearing to be conducted in this matter in accordance with Sections 120.569 and 120.57 of the Florida Statutes; that you have the right, at your option and expense, to be represented by counsel or other qualified representative in this matter; and that you have the right, at your option and expense, to take testimony, to call and cross-examine witnesses, and to have subpoena and subpoena duces 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. , COMPLE SUMMARY APPRAISAL PHIM’ WC. SEB 728 S754 SMALL RESIDENTIAL NCOME APPEASE REPORT ___ oongyoce ty Agdmnes. 11) eI eee: ee 7°02 ni 18 Gresnwoad Syuiviseh . andarithant Guilahors Marigage dpocaine Kylie Long Lonation L_J tevan Buitup (3) over 25% Growth rate Len} Repl Proparly vowas |__| keereasing Damondupety (_] Snorage erating tee | Anda is. Typieal Z4-famlly blag, Type Duplex. Ne, monies Ces Typaateenes 728+ oF BOD, insroneing, i fist, aeigNbactmenct apy, vader tneaasing ae Rant eaneants ial Likely Myon 97 Gkgly, deverinn CA igri Wausing aueing bd) tes wd kse een at veriiaty — J utvaiy in praass ta. metry nnn nee an ce ne ee 1 Nofay Race anc ine racial sompogtian of the nalohbarheod arh rat app: algal faoterc, Noighberhead poundarles and shoraeerstes ‘tha subleat nolahborhwod ts hordorag py US W11 to the sagt, Sarpscta Fay fo the. weet, and fyita Rese je nares - nee tc on — ee ee a i nt te NR es Chatere tna affact the markolamiey st ine prope tas Ia the AdIAbAMHDAM (provimily to employmeat and ammunition, employment exability, enpual to market, nte p 2, syoior unas has hlsteriselly enjoyes! mverageytvpical Ht maricetlatlity du proxi (viooe, recrHnltors! emeniios ancy "We, ttre! sunnier, fanse, Sveow & dequand for reat stata In cy to ne In fobniag. An sxecagive munber af homiog far cae. 2 no} chayved, The national exmsimy is strong, intorant rales art ot an guiradiivw hao and solatlvely stable Soulhyost once ie season onan rout with stable trend @ eeseedagein, ~ . en anne a yao er a gr ym me . ser tment pn garry nn Tho toatwing avatyblafiatings fapracant the most fayrAnl. nbnitar, and proxnale compote sropertiag 3 tho-subjact propeety in the subjery nayghkornond, Thla annlyoinic Intanda dl 1a i 3 avakl muy caxvrenitly on tha markat feniin wth tho winder Penieccaeas net prix and merkoling time trancis atsctingithe.aubiort property|. pighpatheng are na Fema) er snle vomeery sb a it thay are curently for $l ts _ couPsRAn BUSTING NOG 848 S. ae . 1020 28th Streat duct Saraepty p i} Data soure ~~ Tingnsétio y BREA) 2 Aprenealo vary bil , g Cay Oh mate NA Unknown. : wh Conprian ‘of Helings ta aubjeck proparty: Th o's sigs aaa sina bes Ob ‘at his time. oe ~—-. — jp a cy tn Market ooviditions that alfaar 2-4 family propoftias In the subject neighborhood (nohnding the shave naiqhdermood Indicators af qrowlh rats, proparty vahsoa. demand/supply. and met keting time) and the prevalence und impoat in tho cubjecl Marknt ann sogerding lant dkocaunte, Interast buydowns and eee vat) iontifiestion at rents in fisting oriane, average Says cm market and any change ever thy pam yrat, ata: Market condhigng are pogitive and ntoyadt ratos ape generally below 10% eng are celatlvaly stable, Ne loan Ulsepunrs, Interest huvdowne or congeeslang a Q anhance. sua roosnt listings have boon relatively stable ps well ae market rants dative thelast year Dimeraene 80, en ce ee Gls ore 7.S5br/) wn Corti Lat ‘Spondonening clawictien and des! Hplith KM F-4 Apalinl I Zengengn Bw isieotagetinia Jaga i my rr oe Srumeeenathtmmnenmnssinaammnenameaten 7 ES utiities. Puhr Other citcteinpnmmenta Tyee Divewsy §— steppall - Pes (Fr tot soho Ayparantessements Typical UGh a8 Coquter Conmale ——-. ns an waver | Sigownne oe ceo FEMA Spocias Floog Hazard Wee Yor [&] Na ‘Senitay sawer 00) | Street fighas FEMA Zeno X wap Dain 2198 sermeram [7 fg |_FCHA Moe No, 19880 A008 2. Chmmunte fapparent edvarse penile theragenmants, apical aaseanmenty, 5 BUGS Brnas, Merge! ar lope! nenesatorming rong, ube, ary —_ fey-Losty wore no apparent ee eitbeduanls eoeronenmgLis uate ashe lie of ines en The aublact alte oontorna te the aren io z niza, oprarepty and confipuratlan ans malu 8 avarepe Gnlacaping and a cephalt vay a ee ae fa Fo Ad, however, this road Je not considered a, Or acterial toad due 16 YS, 45 bylng Tee wast ord U.S. 301 helo riety emet RY a — ee ce a . _ mente er — . Fraddie Nae Fora 72 13a RET oo Fata Mie Reem WPA TODA ‘Tae fratna prveten mite xt rpmal apes apna RUSTE” Ay COMPLETE SUMMARY APPRAISAL PRIMT wu. G88 728 5754 Paap SMALL RESIDENTIAL INCOME APPRAIS«L REPORT oun Genera deaceipion Exerlor description — (Meterolatessgitten) 2 Foundation Cong Bukewes = CR Poofentoea == Single ax Satiara 8 deep, Soca —_. Oty ; bd : Ce ‘Window typa Abu Li) Somnsdvicea Nowvns Manufacturod outing’ : é “angen ase ag no Na he, %, 4) rafal of OF Sigee an PRG AREA < DAR a AieToaINe COMMON ARLY Sie OFT st ae Gaur Storage Ne. "a a None Carngh Stolen Corpart Condition Average, ‘None Crop ctr Altea ere yt Szultle Related Goaling N Floor Anaquata Yea. Haates Suidequate Fished Oyistraet Unfiniaheed Nene used 3 Tondtnn of the impeovnryente, repabs neuded, Quathy pathy of conciruatn, Taina en recrtnd ares The subleot te new const ren hae lee deprecialon warmyted, The sublects overall duslan, quailty, Se ee a sysagkwag oriivally hull i 1972, However, the un! - wh ane q i unedig its foundsvon. —__—-— a — aprecla i Eanes ST oA parva ot Rip ative Og Bert ident e ie ee enn nN RS ry St | FF arivacae environmental conditions (such ny, hut nat Trento | PB 1 Rbzardary wasted. Lexie qubelangng, 8¢C,) pwacit {a the improvenents, ort thet Rit, OF Sty Cn taunodiale weinity of te gud), property: The werene neta sis priberwironmental conuliinns noted atthe time ot inept, BOTIMATED SITE VALUR oo. BR ERTINATED REPROUUCTION COST-NEW OF IMPROVEMENTS: GBA: 1569 84.8.8, __ 59,00 38 _ —- 8.248 coer ye Gormmenta on Cost Appratch (suah as, source af east antimata, sito walla, squiera fool galeulation and, for HUD and VA, tha oetimated remaining sconamia life of the propely): The Cast Aporogch fe baped on Sq PQS esldenfal cost data vie the Marahell & Swit Resiapnlial Gost ee GFE af —t andbso: OQMMABIO NR pn ee BEES *4 ns |. nn] ack 9 SLs acagt fLinad sales. ostimaton el agimaton glte__| ecco wa on apscacten cefha ct sia improved spiel jects ects and ja {and i avers! ve we a iG Solal orion mevketand .. Porehas, Ration, ate, ‘Tata! Bstimatistt Cost Naw Phyatcal FumeRoo “Eaomal Qt. ould have op sHackon markstanility,, ~~. Depreiaiay Valuo of impravenrants . hag ta Value ot a Japrevemanty Tesdoa Kate eRe meen PAGE? OF € “Panta ean Farry 106 10-34 CF AEE SG) Deeper TT ALL SYR LS LES EXHIBIT | ___.PAGE jt, BBE : COMPLETE SUMMARY APPRAISAL PRIMI NC, 3 728 8751 Pp. 24/39 SMALE RESIDENTIAL INCOME APPRAI&m( REPORT ggangags Tr tegat titan renral comperatles shoud bu reported ond analyrved in is ba a, The cantul comperelon chonktl reprasent (ho mast Current rental infepsalceen ore re d proximate 1d (he gibluct property ps pagetme (This cemporicon «@ band on sutton ronte: date, thargipre, tha Pettit sane aly Sn the py paella Whe SAI8S pia on gaatye. Tha nppraisdl rae ‘etiouid abeura thé reader that the unife and ptopariies ageing no campambien ara comparnle to the sublogt papery (Mati ine Mts gna Uke overall peeenerty] ond asaurately rapresant the rental market for the aubjaat properly (nfo, Otharwten Routeat within he raps: PARABLE iy NTAL y Street ‘3414 Ashton Ra. ascte. 34037 sh Srasote S428) _ None Re ariod 72 (NOUNS? Niven 1 vem: 184i ametaue Ns, bugged por entra, an > ynturnigtiod onlin unfurnished unite. smenitlos modes in rent itige inclurted. _[ No utilitus fachsces Teoma Air Guacinana pon Pay” : toundry purge = ete prem + isd Hey ays nrc date Gael papper to ential mov kat on ora ehtuaubjenh unig aud nn pustules Baimbpargtiee, roa] eqaessboe te) Gompurable canta! data tends trefincl market renta wit reepuct to the ano.ot she canal unite, the locaton ana praxnly of uymoe___. nclinias and, the overall appeal of the structure, pnd the amanites Inaluaed in tho rents AA wal cota lea a AREAL Roarge af beet, The Zoamoe similar in. uae. and size ans. are coneies fa Funetiong? utany, pd lionernant fantin rang. Fed proj amenlies, 26, ee ane eee ae oe a subject’ Tantectecila Tho rant ophaduia razonmtan tha appicerble Indventad monthly markot rents fo tho sppveprigta subject rintt, und provided the astlmatedt rants far the subject praparty, The appraiser muxt rovigur the rent characterislinn of {hy comparable aufus to determing whether ‘agtimutent rants should roflont actud! of markut fonds, For axarnpla, (7 neti mais ware avqiinble on the scley comparbles and yaed te darth (he grna rent multiplier ere aeruel rents for tho subject should se wand, If markek ronte ware used to construat the oomparsgios’ rents and darive tho GAM, mara! Fonte should be wsad. Tha {Otel grog wallirated real must cupraaact tent charagtarclioe conslutognt wih the sues cumpnrable dale cog (8 Cottve Ihe GRM, The tofsl pvota Ballmated fants nol wcjuctac! far vacsicy, cil oad abnmeimcnary ine SAAD nee eer tne rentiyieemndhaaize) NVA meena ened ne tt rpm Sa, - vacany: actruliastyas =__ OO Preunsyase OA Estimated = AS Annually Totolgratsesumardsnat $1,500) han meted in xgumatad rents: ( J teona (C] wate [amet ] Gor [fon Te) tusiailedtion [7] Trash cullacfion Is Included in the Sublect 2 a ee : ap emer ~ Commants On the rent achodula, astydl rante, matmatad rents Cespncially rogoreing Gtaronens heraun actual ong ostimozad rene), walkie, wth invited market ronte are based on annual rentals with no wultioa iojet tne nee en rep — Tragala tine Faem 29 10-44 PROEDOP + Faemia same Foren 102% 194 EIS :...3.1. ee exuwiat__ | Vad IT ITE ML COMPLETE SUMMA IC APriciernc) ce + 888 728 8751 P.25/38 SMAud RESIDENTIAL INGOME APPRAL.«k REPORT gogopags pupleat aAr Sompecnhla cUparTieE, HF waAtyno ihatanles y AOUTLF agjmate any COUCH SIE ‘searkat PRARURE 24k AneA ef DA ARPMUAALOR TppOtA Oi Nhe MBTKW UAR. MTA CLTHLENCATR (lm 1A Th SRP argh The und qcngand DOP PRATOE FFUBAC CCNY aulys OU praperties MAST Remar and presimate fo Lhe SUTAjACE Btmaasty 4% Teas qreceitad ahs amatyzal thea (Oke ansiysts 1 CR8ED arfignidaant eptiatien Beene ne, grisetate per 9, at mie TavarRA THE, th Leth prapaly. & Ran (0) MUST MET 6 mate, Its fafsant fuse “ ue campareal sty fanigtleat fast sh The canrpa othe Save Yt a ay isbn Soeseni(A 1148, JM, bunonct propel AUPAARLENO | COHPARARLENOS 848 6. Qupray Avanun 7 FAY S6tn Strawt ’ ait ¢ 3 pny 44 ae ae, ah. Lom $147,809. — 1,81 sO aad - s _ . 07541 5 SE eS 733:1:] Pri: RecordoMls | ublia Resi Puble Reanravuils, Bata anit Vortyan Sox | Wipgas ae ee: an BCHPTGN fay RETIN} ipsapdoen |__DRSLIPTION | _oerteangmes_| ‘BAYNE Farin ial Conventional | Cenvennenal Conventicnd jspnceeaingy bo pep ipetare—e Cinangina ng _. | Ringenc H isrtamehimg Ls AIT : gpelle . i Sinilat of SHm} : hensahsicitee Sune | : OO. fg Rraakeaw Evy By Raypnenauesesten | ~ ; wellonaluiaty tage. 7s vee Hasyincusant eee | _ Leen Pa peer nl rojas smarities and ree ae ifaopienale). i Mens aes TPC ee TL Atl, calog pried At a8 bag 65: 1% - 5 oh 4 143,00 ne ‘an Waios Oompaneon Qneiadlag ori athe aE Waray ae tq egrineleney end 1olative wirungih and we aie cmotwaion in tel markalk Al thiag eampzratiy sue raarsgent gitar buying wlliatives tothe oublesteropeny Aller hauassary end Manes.) conven udiustmenis to indioated range of value afer ame, Gdgpeting ginal a ugk 18. ossate, No-one als doomed supers ‘atu al wins Glen coyal wolanitin the final vue satimars, The’ iAtaend ue y thie repad ie for menanae taney urpeses onl, nd le net |neanciad for avy othe ee ee nme SUBS atu, Pris and Dale Stun for otlor alee ead eit pf wAprteat, em Apalyole of any eurent epraanant nf tale, option, Tho eubject uray Ota for £124,500, ana ie curraniy guar contract 167, ~ BD heone aan dl S —~. 4 Total gress canthiy eetimatyN cont S$ APPROACH 3 Cammante qq iuoogha RPNISAAA (nectaing Opes valine, X wvaRable, ong reennedation of ihe GRA} regen _| aunt wig ce _ . ae er INDIGAT#D VALUE BY BALES UUMPARINCM AFPROAGH ee ee 14 ml IMDIGATER VALUB RYINCOME APPROAGH , ns pean. 0: WORGATED VALUBRYCOSTAPPROAGH = eas cee eee S82 Thie appraital is mada (_) 7880, 90( 8%) Effeotivs Grose Income, . Expenses (00 fot dade ayptasas fir onnee- oncupiog’ ually) Flactricty : vee beeecee cern we — Fie by Tenant Qas . neeet ' — Pale by, Fual OF anno Beale ts Tenant marl Other Taxes 9F Lisanses Capua! LaBer . , Loe cocaedeeecea Thle includes tha ansts for pubiea arao slanting, sn #to,, QVON though the appiaadl may aot eiset to anetract for auch sarvyors. eeeeeeeeeees wore a Interiar Painyitacaraiing ,.... ‘ Thie inotydes tne casts uf contrast Iapar ‘and macuriuts that are raquirad ta maintain the intarlare of the |lving units. Gonoral Rendiromatntennnce , . : _ _ DUD. Tio Include the nosts af cortraat labay 2nd materlaks that ars roquirad to maintain the publle corrisorn, stairways, rots, meghantral systams, grownda, oto, Management Expances . ebb se peee ce L200 These ana tha onatamary axponeat ‘mata professional manage- . mant Company would Gharga to menage the croperty. Supplies so . Thip includes the costs ‘of ems ‘is fight bulbs, janttoriat a RUpPROS; #tG, Total Replacempnt Rasarves-SaoSenedulaanPg.2 oo... apa Micaltinens teres : __... ~ een nee Adjustments by Lengar'a Underwriter EXHIBIT P,86/3Q “3 COMPLETE SUMMARY APPRAISAL PRIMI C. Bed “Mat BS. BaP Sa * hae st cl Replacement Reserve Sehecut . _— Adequate resfanarnent ToRATVES must be Oaloulate ragardlans ot whether actual reaerves are prowided for on the owner's operating aratornants ofiare onatomary fn the iscal market. This rapregants the total average yoarly raaerven. Gonerally, af equipment and oom a ponents (nat fava a renimining life of more than one year-euen aR redrigaratara, staves, clothes warhnrsidryere, trash compactors, f turndeed, mpts, and aerpoting, sta -should bo oxpensed nn « replacement root basis. Y Say &as ~~ La ee n= re en toe Eaulprent Raplacenent | Rameining By Apnilgant? Lander ed . Gost Lite Appraiser Adjusrmenie Srovasitengey ., GE $00.00 e+ 10 Yee Units =. £000 $ Relrigeratars, , BF —— 280.08 ons 1h vn x Unis od 0D ee Dishwarstors GS ee BR a YI ge Ei pens Bene IO Unis “Oe $0000 + 10 Yen od Unite $0009 G. Washer Oo ~. an OVE een URE ce a Pe erent HWP gto BS th He a UIA pe Rtn in oe {UTAAER(S) BE OT ey OK UE Sp (either) | OF Be ee YK ee WteOS LL FN nme ee Bont, OS 4900.08 5 90 Yee, One Big > 4 183.33 tL Garpoting (Wad ty Wall) Romoining Lite {unas} "AY Total 84. Yes. @ SOR Para, Ye, = 48 Yos.a | 2 ne [PuttoAnas) =. Tots Sq, vide PH Par eq. 8. + Yeh 8 §. wee Bennett mee Tarnt Repiagentont Ragarves. (Entar an Pg, 1} Fee SS Fe Operating income Reosnelilation . 780.00 . f) if tra § 3, 8 PNET gra the s Tatal Oper ne he a a oan ae * aR Oi TER Bo eer nen SES IF HR IT, Monthly Operating Income Monthly Housing Expansea fet Cash Flow (Nota; Monthly Housing Expense indludas principal and interaat on tha mortgage, haxard insuranog promums, real orivis haces, mar- GRAS insurands premiums, HOA duow, lnasshold payments, and subardinate fIhancing payments} a Underwriters listrutions far 2-4 Family QwnarOrcupied Prapertion een een © if Monthly Operating i6gme Is a paaitive humher, enter 4g “Nal Reatal lncome* in tha “Grose Monthly Innorne* Baction of Freddia Moy Form 65/Pannia Mas Form 1008, If Monthly Oparating inanme w% a Aegativa number. it must be ingluded ae a fiahility tar qualtticatlon purpases, ~The borrawar's monthly nosing axpense-t4-incamo raths nual be oalduiatad by comparing the total Monty Rowsing Fapeaso for ihe wihjact promerty 19 108 Norrawar’s stable monthly incame, Sener Voncharwviter’s instraetane for 1-4 Pury lovastment Praporto © iNet Gash Plow i@ @ positive qumber, onter ag ‘Nal Rantal Income” in the "Grats Monthly income" section of Froddia Mac Farm ssfFunuin Mas Form 1004, if slat Gash Flow is a nagailve numba, 1 mast bn [nglyded ae 4 lRbiMy for quatifiontion PUrpPDsAg, . attr a ec « Tha borrawar's monthly hatesing axpansd-ta-mncamo ratio meat be gxiouintod ny comparing tha tntal monthly housing Hepensa for tire borrowar's primary coetdence in the borrowore Atable monthly incomo, - ne Appraiser’s Commonte (neluaing enureos far rinca ane rutlanaie fr tho prepoetanyy) tr Bae SfeE fa0e nraleer Nema dé natorg, Data ee ne ty re ener antes Undenwtters Commante and Rustionals for Adjustments Underwriter Nana TO Undorititer Spratare fe Site rer — oa TeamBt) Aug 68 rasan retin cra ter nar pn ETT rennin te PRIMIS, Inc. ¥ EXHIBIT J PAGE | ome eee EINE TY = _ SORUEGT PROPER Ferry reer 88 72 a SEL. P. 88/38 > FR ST —_—— rE - Me rmonronwor Uy Uy y von L in REAR VIEW OF SUBJECT PROPERTY STREET SCENB TOMPARABLE PROPERI 7 rriw ye meer 868 728 S731 P.e9-3a — —_— FeNe. an =| a NB ee tee a COMPARABLE SALE #1 2034 Hickory Avenue Samanta COMPARABLE SALE re 6509 Capray Sarasota GOMPARABLE SALE #3 B4B 3 Oxpray Avenue Sageeta M2 L_mce 2? EYHIBIT_____ A PAGE FUL ROT L LS HS SULH RHIUN 868 728 8751 se > pene as : Eee ; 2 a 98 Hos a if a; iy; Sarees em | sherwg BADT INT x Oo vate raabeadt ke, | ANNIE ee tha Hitckury Jeena | \Ceeoatud, ta ZIP) «SHAR IRDA 7) * : BRR arg y Prt mesa s md ye Mg eV e Dito, eon LTTE Rien ths Pe eNirane ean Sy a i aoaiod 1s esatd " geway | 7 NFP, |. uae Pinar pm SS P.1@/38 EXHIBIT _{- PAGE ZL JUL coed 13: @5 AES BOCA RATUN BUE feb W'f>2 Peis PLAT MAP a SUBJECT SULT ROTEL 1L3sW> HS BULA KHUN ch ‘(de rod Ped? ; __. “Hel Bedragm Livin Roar Bath Kitehan Redreom Bath Beetoom enen Living Room Buriucm aa Sketch by Apax (y Windows™ REA CALOULATIONS SUMMARY LIVING AREA GREAKOOWN Dexeetion 8 ava Parpe Ploar 704.00 78K 0e ayaa Tat tye 794 DQ 154.88 ¢ vinah Whose Roo oz 2nd TAG, on mat two and # and 284.00 JUL-26-2801 13:25 RES BOCA RATON B88 728 8754 File Na. QQYOESES Tae ene DEFINITION OF MARKET VALUE: The most probable prise wnt a iia ma owe pete CSO at anditions requisite to & falr agle, the huyor and eflar, cach aoting prudently, s t ‘ reed by undue salma, Inapticlt tn thls daflaition 16 the conaummation of a sale ag af a spoctiad date an ite nasa oe i ” aller Co Buyer under opnditions whereby: {1) buyer and salier arn typloally motivated; (2) hath partieg are well fn eee rs ere and each adting i what he concigara hly own heat Intarast; (3} 8 rousonable time ie allowed for oxpaaure (nine ore mi et i ‘enynent is marie: in terms of cveh tn U.S, dollard ar in tecms of Snanalal arrangamants nomparaale (hereto; and £5) the price rears aa apneldoration far the progerty sold unatfwcted by spacial or creative tinanding oF sales contaasions” granted by sriyatie associated with Ihe gale. * romparabler must ba mace far spacial or orgativa Hnarielng ar g8in% concessions. No adjuatments era mecastty for ene 3 aera pald by s@llera as a nowt of yadition er law in s market arco; Wage covls are taedlly ianntia stun the sailar pays thana soute In virtually all salon Iranemetisns, Special or erootive finencing edjuatmants car ba mae to thy orp afB ty Be var ¥ by compartanas ta finaneing (erm offaced by ¢ third party institutional tendar thet [ly nm already Involvad in the property 4 raneart on ny adjugtman) should not do gaiculated an & meohanigal dntiar {tn alollgr cost of the Financing of cgncesslon but the dofler amaunt of ery Agetment should approximate the Merkur taactlon fo tio fnaneing or cansassions aged OF the Aporatuat's judqmente STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFIGATION CONTINGENT AND LIMITING CONDITIONS: The gppraicer’s caritflastion that appaare in the xpmedsal report ie eubjent te ithe, Tnlleredng canditions! {, Ths spprntear win net br respaasibic tor matters of # legal nature shat alent alter the property balng wppraised ar tho {ite £9 it, The apnrnisar asouMmas Chat the tte Is goad and morkatania and, therefore, wit not render any opinions ghaut tha tile, The property 9 appratnud on tie hasis of fl doing undge responsinta nwnarshis, 2 Tha appraiser hns provided # Rkatch In Ue appraign} Tepert to show anpraximote dimensions nf the improvormente any thre skein 1g [nokaded only to assiet {hg reedar of tna report in visualizing the eronarty and understanding the appraiers detuinulnation of tte eure. 3. The apptalser hus examined tho avallable ood maps {hat gre provided hy tha Federal Amergancy Management Ayengy (Ar Atha desta squtces) and has noted In tho Bpprainal report whether the aubjoct sie Is locetad tn ad identiisd Spatial Finod Hazerd Arag, Ancuuge the appralser fa nota surveynr, ho or she makes np guerantags, Sxpre9s OF Implied, regarding this determination, 4. The appraiser witt not give testimony of apparr in oourt bacaciae fe or sho made wo appratéal of the property In question, unlesn Hpocific arrangemants ta do su have baen mada befornhand. S, The wppraiser hae emtimatad the value of tha iand in te cant approach at ite highost and basl wan and tho improveronts at Weir contribvtory value, Thasa ceparste valuations of the tend sud improvamants myst not be need fn sonjunction with any other appraien! and ara invalle If thay arn $0 uyed. 6. The apprafosr hax noted in the appraisal report any acveree condilions (auch ag, needed rapaira, depreciation, the presence ot hazardous woatan, tovJe substances, ate, ) cbservag Guing tha Inspection of the aut}ect property of that ho ar she beoame aware af during the nay sal rennprets mvelved In parforming the anpraigal, Wniens ntherwiaa atated In tise appralval report, tha appraiser hag no knowledge of any hiciten or UNBpPATENK sondiliuns af the property or adverse enviraninental gendlions (inchiding tho pranaace cf nazsrdous wastes, Laxid substanopa, ete, ) sat woul! make the praporty more or tus valuable, and hs assumed sirat there are no auCh conditigns and makoo ag guarantees of waryentiag, exprras of Impliad, regarding (he condition of the propartys ‘The appraiser will sot he feaponsibie for any Sirah conditions that do exist 4f tor any engingoring of teeting thet might he saquited fo digtevar whether suoh conditiong exist Bacause tho appraixen is not an export in the fletd of anvironmentol hazards, the Rppratsal raport MUGE NOt be considerad as an onvitanmantal asuuysment Of fhe property. 7, Ths appraivr cibteined the information, astimates, and opinions Mal ware gapressed [nthe appraeal faporl fram saurmas thot he ey ene GONRIIpTe TA Be rulluble and hahoveg them 19 be hue and cortast, The appeAleer don wot aszumd roepenstblily for the ancunaoy at Bueh fang thot were furninhert hy other partiga, 8, The appraiser wilt nut lsclosa tho sententa of the apprakal raport axdogt af pravidurt fac in the Yniform Standards of Professional Apprainal Pragtlos. #, The apprainar hoe Saved his or har apprainal report and valuation conclusion for en Oppraisyl that is subject te aatiefactory camptetion, repalts, or nixrationg on the aggumption thet coupletion af ths imprayamente wil be performad in a workmantike cnurnar 40, Tho appraiser mint provide hig ar tier prior written cansant before the lendariellent specified In the appreusat rept can distribute the apprnivnt rapors (including canclugiona about she property velue, the appraincr's (dantlly und professionel deatgnations, and referenced t0 any protarsionat appralant organizateno or We trm with which the spprdlear ie ageociatad } to anyone otnar [hen the borrewar; {he mortgage ar its succuasurs and aasigno; the mortgage Insucar: consultants; professional apprataat organizations; any state or faderaily approved tinancial {nstitution; or any dopertment, agency, mt instrumantality of the Walled States or any state or tne District of Columbia; except tat the lander/cliant may elstribute the proparty dssuriptian sastion af the report only ta date colloction er raparting nurviog(s) without having Lo oblalh the appraiser's prior writtan consent, Ths appraiser's written cengeadt and approval must aloo be ahlainad before the nppraisa! son ba convaysd by anyone to the publia through aciuariising, public relaliana, Nowe, sales, or other media, Sranddls Mus Form 490 6-93 Page 1 of 2 Fannie an Ferm 10048 §-93 P.13738 EXHIBIT | _PAGE 2 WOW Few DT Fie Ne, GOUUHIE APPRAISERS GERTIFIGATION: The Apsraer tartfias and aprena that: 1. Unave racoayaned ite aubject market aron ON nove gelncted p reinimum of throe racknt sales of proportier smost similar and proximate ta the aubyaat property for consideration 15 the gale compatisan analysis Ano have riage a caller egjuatinent wrran epproprinte & renget thus markat roasted to thnsw fans of aignineanic varlation, Wa signiNeant gam (18 anmparable praperty ie cupariut to. of morp faverabie than, the suejest properly, ! hava made © Aegative adjustment 8 redues the arijuntedt salad pribg ot he Gomparalsia and, srtygniftoant [tere fo a Gamperania promarty Is infanter Ye, ar toss Favorable than the guD|ect property. | havo mate 2 positive aefjuntmant to ieroago Thr adhsatadd mise pelea of the oompanable. & Thava taken into gondlderarinn the factara thot have Ri impact on yalud in my nevalopwent of the ostimate af warkat value in the appraisal raort, | have nat knowingly withheld any slgnificant Information fram the appraisal report and } Delinun, to tha beat at my iknowdosige, that all staiarranls ond Infermallan In tha apyncainal rapart gre tre snd cone, 4, | stated) in tha appraisal raport only my ann parsenal, Uneieac, anit professional enalyete, oplnians, and caneiyelane, whith are sublet an(y to thw contingant and bring ognetiionss spactiad in thi term. 4. bhave na present of prospective interest inthe propatly that is the subjemt fo yhis report, and 1 have 06 probant or praspectiva porgonal interast of bias WIEN reepant ta the participants in the transantivn. I did net besa, either partially or pompletety, my amalyats andsar the ostimate af market valua in the appraisal roport on the rang, color, ratigion, sex, handicap, famirat atewa, OF national origin of aithar ine plospactive wnars oF ecoupants of the pubject praparty or of the prewunt owners oF occupants st the prapartivs In tha vicinity af tha eubjgat property. 3, i have oo present or contemplated futura interest iA the qubjact property, and nolthar my currsnt or Suture sinplnyment npr my varpansation for performing this appreica! lecortingant an ino appralaad vatua ortho property. A. twas cot raquired to report a predetermined value o¢ drostion In value trat favors (he cause of the dient or any tatated party, tha amount mf the value satimata, the attainment of a specific ragurt, pr the ponurranne af a gubsaquent avant th order te receive my rampantarion Andie employment tor porforming the appraisal. 1 did not boxe the Sppraieal roport 90 & raguested minimum watuation, & ‘spenific vatiatlon, or the yond 20 approve @ ‘Bpactic moetgage oon. 7. | portarmad thia eppraigay in canfarmily with the Unitfarm Stendards of Profageional Appraisal Practice thot ware adopted and promutgatad hy the Appraica| Standart Aaard of Tha Appraisal Foundation and that. wars If place aR af the affaclwe date of this apprainnl, with the axaeption of {8a spartura proviston af those Btandurds, which docs nat apply. | neknawiadge thet an cailmata of areasonabla nna for axpocura th tha apun market Is a oonditian In the dafinittan of markat value and Lhe estimate, | davalaped it egnsistent with the movketing time noted In ha rlghborhiood aoation of thisrapet, antes | hag thanwiee stated In tha raconcdation nection, 8, 1 Rave pucxnwislly ingpactad thé Intarlor nol actorior argag at the Aubjsot propwity and the ovtarier 6 a propartias linted ao onmparab! eg mn tree appeainal report, | thtnar partily that | havo netad any epparant or known ‘edvaree aahaltonsin the subjact imprevamome, na tha subject atte, of an any ette within the Immadiota vienity atthe subject oroperty of whieh [am aware and havo oid sdluatmanis far thaso advaria conditiens in my anulysis of the propony vatuw to ths wxtent that | had market evitinnes ty support them, | have ats eammentad about the aliaer of tite miueran conditions an the markaraniity of Ihe subjoct BO paTY. Q | parsanally prapared all ganeluerons and apinions abaut ho signifcant profesional aoarstanee from sry individual or ieiursare rR! oxtuty that ware sof forth in The aporaiedrapat MW] reas wn ir! In the purformance of the Sppraisal vr the peaptration ofthe appraixat raport, J hiwa nemag gual insiviguays) and discloseé tha epectfic tusks parkarmod by them in the racemotislion apatian of this appatsal ropurt { cartify that any individual so rismied is quolifiod 16 parvorm the takes. £ fave not puthorizer! snycnn to mako @ change to any itn la the report; therefoga, tan unauthartzad change jsmade to tha appemizal re; SUPERVISORY APPRAISER'S CERTIFICATION: pet, 1 wil baka no rogponatptlty fre 4. tte supervisory appraiser Gignad the apprainal rapart, hg oF she certfi2a and agrees that: | dirastly supernisa tha appeaisar who propared The wppraisal ropatt, fave ravinwad the appraisal report, ngree witn the statamanta and conctyminns of the appraiser, agrae tn bo borind by the appraiser's oortiftostions numbered 4 through 7 abaye, and am taking Aullraaponsibity fer the appraisal arte ths sppraleal report. ADDRESS OF PROPERTY APPRAISED: 1020 28th Strest, Sarancta, Fl. 34RS1 emer APPRAISER: SUPERVISORY APPRAISER (only If required) , Signatur: “2 Names. Eee Tata Signnd, 07/19/20) sasmree State Conefastion ® er tr Atte Lioanse mt Silom Aug REA Riv Er ae State: El. Sagnature: fA Nenw: Glavjon A Jnore Oat Signed: 025003 __. Stale Gentfeation® StQaert- Res READY ne State License Eitatot ae en assim ————e ——e—— en er Nr Eapiration Data of Curtifustion or Lisonoey __. Bawratign Daa ot Cenffiration a Lieangas nn . {2 oe GH dla wot napase Preperry Frocirle Mo Form 438 6 68 ~ Page 2017 Fannie Mae Ferm 40048 6-59 _PAGE Te beer EXHIBIT [ Se mEEET 25 tm tant . PRIMIS APPRAISALS . CLAYTON A. THOMPSON. £2 \ QUALIFICATIONS OF APPRAISER “Ye appentser is Aver Manager fie Prins Appraisals, Ine, 2653 SBokney Point Teusd, Sn ata 17, 2. and hns heen fall Shue appraiser aye ersotinnl slice TORI. State Certhied Rewident Anjan Hie, {UD 4 0100262 Ligeused Real listate Neoker, State Contificatiesns O32S2R THUD & BHA appraiser (CUUMS fH 2047) RA Meniher: The Appruisut hrstitute, HE GFA x" Ni bOPLNLS i) QBorravay wt wate” ; ! LGU AT PIR HD -DOUGZA FF, fZONRE OY ALATA Genuero IES: DUNTEAL ANTMALSER WORPSONs CLACIUN A PROFESSIONAL AFF LIATIONS ‘The Appraisal Institute SaynsouwVenies Are Nope of Renters Asxactate Menther (lo td Associntian of Realtors Qualified Expect Wilkes Samsotn, wh Dendesnun Comméssinn A sperdeal Acljustinent Keviow Maber of Marshall Vato lon Service ES CUNT LEU otribe prods ot. 4,75 FS. Worren’s Cornell af Realtnrt . Emote NOV JO, 2 30 Moartynge Tankers Assouiution, . nov 3 aa 2 _ Florida Assogiation of Mantgagy Brokers . ena Herve Weulters Assevufition . “ GENERAL EDUCATION |’ ORNS Vwllamasee Gar unity Callege, Trltohnstee, Fl,- Anvooints of Aris Degree 1OKLeevkls Rive Univorany, Tallnhasnee, PL Majer Aten Teal stato, LOND SILA Conese 101TH ingiples of Heeck{entat Appgising, Polite tists Universtiy 1OR4-{t5ert theyers-Rariatty, [lay Prokers Ligense, + TORS-STBA Course 142- Applied Megltentat Annrateing- University of Minnesata. VOT Bederal [ecor Fegan sk Roars soomthation Pa be Seminacls fento, Pf, sea? felgc draft Swat Pesub afinl Gon Unnetbonk Seeninor ‘ LORTNIEHA Chapter 1212-Fane} Instruator, Resldantiat Reparting Writing, Seniiar, Sua dn, FL TOMP-RIREA Chapter it Scomatenetion Teehniqnes, Suc Print Toning, Interpretation, tafe Canstragtion Systenms”-Clenrwater, PI. TORRE te Society al Real fstalo Appetizers; Yo up Attvicary Commell" Naw Orfeans, f- JOReT Te Saatery al Real Petals Appralsers: “Yustiy Advixary Cannel!" San Diego, CA JOKD-SRIA #22 Stauataeds of Professlonal Procilecs Sominwr, Daylana Beach, PL 1900-CGutl Canal MIA+ FIRRBA Heguladans 199 LA ppritisiel Lnstitate Adit Caphialtzation Theory & Teelniiques, come 1A WN enters Appeninat Teehntquas-R. Edneation finecinlists, Sarascus, FI. Lager BAT Law Updi te ConrsaeR. 1 tuuentlan Specialists, Sarnginn, KL. Wh ominuing, Editent as Coursa- sppocially"s WL, Radnontion Syecdalistx, Sumnactn, 19OG-¥ ont Batate Eelacutiont Speuinllar’ Appraisal Motlods and Abpliestions’ Sarasota, 1 19up-vacmgnta D autel of Renlturn, “USTAILaw Update” ae TL {VTA ppratsol Insitute, The Appraisal of Historle & High Value Honves, 197 Fe Apywalsal axtitate, Parte Aik A-USPAL, Howrtan, TX EMPLOYMENT 1997-Traseut Aron Mauayor far Pritnts Appraisals, Ine, Samsota, rR Wee. 1997 Ouwaer & Proatitent of Suncanet Appenleal Ginny, Soreeoia, Pe ORG 1 ORK Teeplstorod Feat Estate Aenker Assnciste Resktentinl Manngar of ulf Aporsigors/Consnitan, Inc, Samnsntt, PL TORL (ORG Hughstered (Len! fistnte Broker de Selerman, 1979-1984 It, W, Corastey &e Aseuelates, Vositton vf John C, Seyers RM $979 “Tatlalassce Rently Ine, Tallahessee, PL, CLIENTS SERVED IL Tenferenres nvaitahte apis mqnest. : EXHIBIT __ | pce as TOTAL P. 38 “” PIR, WUUTa wee APPRAISERS CERTIFIGATION: “The Appralear cartiian anc agrees that 4. [have researched the cubject market sap and hava selected @ minimum efthres rooant aglas of propartiea mest simhar and proximate to the aubjant proporty for consideration In the $8188 campariaon anniysts ‘ang have mada @ dollar adjustment what appropriate to raflaca the: markat reaction to thors items of significant variation, Ifa significant Rent In & omparaile property ja auportar to , or mote favorabia than, tna subject property, | nave made g negative adjustment to reduoa the adjusted sales prica of the oomparabie snd, [Fa significant taming comparable property Ie Infarior te, ar lane favorable alas price of the comparable, 2. Thave taken inte nonsiderstion tho factors that have an impast on value {fy my development than the subject property, | have trade a positive adjustment to increase tha adjusted of the gstimata of markot value in the appraisal report. (have not knowingly withheld any aigniticant Information from (ie apprainal report and I bollave, to ahe baat of my knawtadge, that aff statements andl information in the appraiaal report are trus and corroxt. 9. \ntatad in the appraisal ¢aport only my own personal, only te the cantingent and Tenlng corcfitians specified In thie form, 4. have no present or prospective Interest in the proparty interest or bias with respect fo the participants in the trangeation. on tha rene, rolor, religion, 86%, handicap, familiat status, prewent owners or osoupants: of the proparti¢s in ina vicinity of the estimate of market valu inthe appraisal copart prospactive owners OF ogcupants af the subject property or of the sublact property. 5, tp have no present or contamplated unbiased, and professional analysig, eplniona, and SQnOlUBOns, future interest In the subject proparty, and neither my current er whieh are subjegt that is the subject ts this roport, and j have ne present or proupestive paraonat Tdid not base, elther partlally of sompletely, my analysis endior the or national stigin of either tie future enployment nor my campansatlon few partorming this pppraleal fa confingant on the appraisnd value of the property. 8, | was not required to rapatt & pradetarminad value or direction in volup that favors the gausa of the allent or any relstad party, the amount of the value ectimare, sompennation and/or amployment for parforming tha appraisal. $ pectic valuation, or the need to approve & apedtfic mortgage foen. 1, Upertormed this appraisal in the attanmant of 9 spanltic rasult, or the occurrence of x subsaquant event in order to rovelva my did hot page the appraise} rapt on a raquested minimum valuation, & sonformity with the Uniform Standords of Professional Appraisal Practica hat ware adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that ware In place ae sf thie affective deta of this appralsat, with the exeaption af the departure provision of those Standards, whieh does nat apply. market [5 @ conditian In the datiniton of market value end the estimate | devolaped Js consistant with the time for expocure In tha open J acknowlacige that an gatimate of a rensonsita markating tim noted in the neighborrigod sactton of thin rapert, uniess (have otherwise etated In {he raganallation seelon, B. Thave personally inepected! the intarior and axtariar areas of the subject property and tha exterlor of ali proparties listad ag comparables in thn appraisal report, {further cortify thet gupjact site, or on any site within the {have noted any apparont oF mown adverse oanditions in the subject improvements, on tho ienmegiate vicinity of the subjact proparty of which |am aware and have made adlustmants far thasse adverse conditions In my analysis of the property value to tha oxtant that | had market evidanse fa cuppart them, | have also commentad shout the affect of the adyarsa condiions on tha mexkatablity of the subject proparty, 9, {personally prepared all sonctualons and apintons about the real estate that ware set forth In the sppraisal report, Il refizd on gignificant prafasaional assistanos from any individuat or indlviduals in the perfarreance of the appraisal or the preparation of the appralsal report, [have named such Individuals) and disclosed the specific tanks parfarmed hy thom in the reconciliation aectien of this appraisal raport, | oortlfy that any individval so namad is qualified te porform the tasks. hava not authorized anyone fo make a ciange to any fem in Tha rapont: therefore, Han unauthorized ahanga ip mada ta the Appeals! report, | wil ake no reponalbilty for it. SUPERVISORY APPRAISERS CERTIFICATION: and agress that: | directly supervise the appraleet Who fa prepared the Apprelsal report, supervisory sppraiser slgnad tha appraisal repert, he or sho cartlfiog have reviewod the appraisal raport, agree with the atatamante and oanglysions of the appraiser, agree to he bound oy the appraiser's cartifianttons numbered & through ? above, and am taking full respanaibitty for the appralval and the appralead report ADDRESS OF PROPERTY APPRAISED; 4508 Olg Bradenton Rogd, Sarasnta, Fl, $4284 ae APPRAISER: SUPERVISORY APPRAISER (only if required} Signature; Se ee Sigritr UF Ml ealon : nyu, Lae Sgn 6S ate Segneds O7/0S2200 0 get Date Signe Q7/09/2007 _. ee State Certifeation # ____ _ ‘State Gartfeation#: $6.0 os oy State Lloanse # Si Ren Asst REA RiMOD8SOs or State oars # er ate rc ce aE Expiration Date of Cortification or Licansat — nen eo Fraddig Map Pott 428 6-93 Pega 2072 ( pe Did Not napect Property Panna Maa Porm (0045 6-03 EXHIBIT [ PAGE 21 — Kam ac _ PRIMIS APPRAISALS, INC. KYLE F. LONG The Appraiser is an associate in the firm of Priinis Appraisals, Ino. Located at 2653 Stickney Point Road, Sarasota, FI. 34231. St. Reg. Aast, REA, RI# 0005396 Kyle has over two years intense, hands on experience in residential Real Estate Appraising in the field , in an office setting. Kyle haa strong organizational skills, and a positive work ethic, with the ability to accomplish large work loads efficiently. He is also proficient in using the MLS system, Metroscan, Experian, MCS, ACT, and Win-total 2000. S119000 5 = 1atgs/adod po01gs : The ‘ASSISTANT APPRAISER f wf tice Fn REOTOTE ED Yer the provisions nf Ghaptir Eye a 1 2552 EDUCATION 1992. Associate Arts Degree — Valencia Community College 1993-1995 University of Louisville 1998- State Registered Real Estate Appraiser: Hillsborough Community College 1999- ACI Training: Sarasota Board of Realtors, Sarasota Fl 2000- Real Estate Appraisal Continuing Education Class 2000- USPAP Core Law Courses | & 2 C3 FATE OF FLORION Aer BLDOGTC MENT OF BUSINESS AND ‘ ROR ESS TON REGULATION RL -DOORS7S “12/05/2009 90013577 EG AGSISTANT APP (ATSER: i AYL Reus \ a HAS REGISTERED "HHEMMONIK 7g T Eyinion Dei oy 320, POOR os-agtaTe BEELORIDA «3: DEPARTMENT OF BUSINESS bin OEREBTONAL, REGULATION LORIDA ‘REAL BSTA BAL B aplration date, NOU vate BARA SUNNYSIDE St sate NLS FL 34239 - Kin SINK ae DISPLAY AS REQUIRED BY LAW Beeke | EXHIBIT beer ow “SEY ARY lng AD ER oad

Docket for Case No: 04-002277PL

Issue Date	Proceedings
Oct. 11, 2004	Order Closing File. CASE CLOSED.
Oct. 08, 2004	Petitioner`s Motion for the Department of Administrative Hearings to Relinquish Jurisdiction, and for a Prompt Hearing on this Motion (filed via facsimile).
Oct. 08, 2004	Respondent`s Joint Trial Brief (filed via facsimile).
Oct. 07, 2004	Motion to Amend Petitioner`s List of Exhibits (filed via facsimile).
Oct. 04, 2004	Unilateral Response to Pre-Hearing Order (filed by Petitioner via facsimile).
Aug. 11, 2004	Order Granting Continuance and Re-scheduling Hearing (hearing set for October 12, 2004; 9:00 a.m.; Sarasota, FL).
Jul. 27, 2004	Respondents` Motion to Continue Final Hearing Scheduled for September 17, 2004 (filed via facsimile).
Jul. 15, 2004	Order of Consolidation. (consolidated cases are: 04-002277PL and 04-002278PL)
Jul. 15, 2004	Order of Pre-hearing Instructions.
Jul. 15, 2004	Notice of Hearing (hearing set for September 17, 2004; 9:00 a.m.; Sarasota, FL).
Jul. 09, 2004	Unilateral Response to Initial Order (filed by Petitioner via facsimile).
Jun. 30, 2004	Answer to Administrative Complaint; Election of Remedies filed.
Jun. 30, 2004	Administrative Complaint filed.
Jun. 30, 2004	Agency referral filed.
Jun. 30, 2004	Initial Order.