Petitioner: DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION, DIVISION OF REAL ESTATE
Respondent: TIMOTHY ALAN JONES
Judges: SUSAN BELYEU KIRKLAND
Agency: Department of Business and Professional Regulation
Locations: Sanford, Florida
Filed: Jan. 21, 2011
Status: Closed
Settled and/or Dismissed prior to entry of RO/FO on Thursday, June 9, 2011.
Latest Update: Dec. 22, 2024

11000382AC-012111-14035903

STATE OF FLORIDA

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION

FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION, DIVISION OF REAL ESTATE

Petitioner,

V. Case No. 2009016115

TIMOTHY ALAN JONES,

Respondent.

ADMINISTRATIVE COMPLAINT

Petitioner, Department Of Business and Professional Regulation ("Petitioner") files this Administrative Complaint before the Florida Real Estate Appraisal Board, against Respondent, Timothy Alan Jones("Respondent"), and alleges:

Petitioner is the state agency charged with regulating the practice of real estate pursuant to Section 20.165, Florida Statutes, and Chapters 120, 455, and 475 of the Florida Statutes.
At all times material to this Complaint, Respondent was licensed as a state certified residential real estate appraiser in the State of Florida, having been issued license 3508.
Respondent's address of record is 117 Shephard, Longwood Florida 32750.
On or about September 19, 2007, Respondent developed and communicated an appraisal report ("Report") for property commonly known as 550 Magnolia Avenue, Daytona Beach, Florida 32114-4252 ("Subject Property"), and estimated its value at $285,000. A copy of the Report is attached hereto and incorporated herein as Administrative Complaint Exhibit 1.
Respondent failed to pick comparable sales that were locationally, physically and functionally the most similar to the Subjec·t Property. Comparable Sales 2 and 3 are located on the beach side and are not in a similar market area as the Subject Property.
Respondent failed to analyze such comparable sales data as were available to indicate a value conclusion.
Respondent made the following errors and omissions in his Report:
1. Misstated Comparable Sale 3 as having a gross building area of 1334 square feet, when it had a gross building area of approximately 2668 square feet. A copy of the property apprais·er records for Comparable Sale 3 are attached hereto and incorporated herein as Administrative Complaint Exhibit 2.
2. Misstated Comparable Sale 3 as being 84 years old, when it was 45 years old.
3. Misstated the parcel number of the Subject Property.
4. The Subject Property is a duplex. Building one was built in 1903, and building two was built in 1940. Respondent failed to note or disclose in his Report that the two buildings were built in different years. A copy of the property appraiser records for the Subject Property is attached hereto and incorporated herein as Administrative Complaint Exhibit 3.
5. Misstated that Comparable Rental 2 had four bedrooms, when it actually had eight bedrooms. A copy of the property appraiser records for Comparable Rental 2 are attached hereto and incorporated herein as Administrative Complaint Exhibit 4.
6. Misstated that Comparable Sale 1 had four bedrooms, when it actually had seven bedrooms. A copy of the property appraiser records for Comparable Sale 1 are attached hereto and incorporated herein as Administrative Complaint Exhibit 5.
7. Misstated that Comparable Sale 2 had five bedrooms, when it actually had two bedrooms. A copy of the property appraiser records for Comparable Sale 2 are
  
  attached hereto and incorporated herein as Administrative Complaint Exhibit 6.
8. Mistakenly checked the incorrect box on the Report that Subject Property had not sold in the past three years, when it had.
9. Mistakenly stated in the Report that there were zero
  comparable properties currently offered for sale and zero comparable sales within the past twelve months.
  .
10. Mistakenly stated in the Report that Unit Four on
  
  Comparable Sale 3 had six bedrooms.
Respondent failed to have any documentation or support in his work file for the site value he reached in his Cost Approach. Respondent also does not have any support for this value in the Report itself, and frankly states that this value was an "estimation".
Respondent failed to have any documentation or support in his work file for the site improvements used in his Cost Approach. Respondent also does not have any support for these improvements in the Report itself, and in fact states that the source of cost data was "estimation".
Respondent failed to have any documentation or support in his work file for the low effective age he reached for the Subject Property. Respondent states in his Report that the Subject Property was built in 1903, but then gives it

an effective age of 25 years. There is no support in the Report for giving the Subject Property such a low effective age, especially since Respondent states in the Report that the Subject Property is in "average" condition.
Respondent failed to have any documentation or support in his work file to show that he looked at or considered comparable sales in the Subject Property's area.
Respondent did not have any documentation or support in his work file for the monthly rental amounts used in his Report, or references to such data.
Respondent did not have any documentation or support in his work file for the gross living area adjustments made in the Report.
Respondent failed to register his business name with the Petitioner.
COUNT ONE
Petitioner realleges and incorporates by reference the allegations set forth in paragraphs one (1) through fourteen (14) as set forth herein.
Section 475.624(15), Florida Statutes, subjects a real estate appraiser licensee to discipline for failing or refusing to exercise reasonable diligence in developing an appraisal or preparing an appraisal report.
As set forth above, Respondent failed to exercise reasonable diligence in one or more of the following ways:
1. By failing to pick comparable sales that were locationally, physically and functionally the most similar to the Subject Property.
2. By failing to analyze such comparable sales data as were available to indicate a value conclusion.
3. By misstating that Comparable Sale 3 had a gross building area of 1334 square feet, when it had a gross building area of approximately 2668 square feet.
4. By miss,tating that Comparable Sale 3 was 84 years old, when it was 45 years old.
5. By misstating the parcel number of the Subject Property.
6. By failing to note or disclose that the two different building in the Subject Property were built in different years.
7. By misstating that Comparable Renta 2 had four bedrooms, when it actually had eight bedrooms.
8. By misstating that Comparable Sale 1 had four bedrooms, when it actually had seven bedrooms.
  i. By misstating that Comparable Sale 2 had five bedrooms, when it actually had two bedrooms.
  1. By mistakenly checking the incorrect box on the Report that the Subject Property had not sold in the past three years, when it had.
  2. By mistakenly stating in the Report that there were zero comparable properties currently offered for sale and zero comparable sales within the past twelvemonths.
  3. By mistakenly stating in the Report that Unit Four on Comparable Sale 3 had six bedrooms.
  4. By failing to have any documentation or support in his work file for the site value he reached in his Cost Approach.
  5. By failing to have any documentation or support in his work file for the site improvements he used in his Cost Approach.
  6. By failing to have any documentation or support in his work file for the low effective age he reached for the Subject Property.
  7. By failing to have any documentation or support in his work file to show that he looked at or considered comparable sales in the Subject Property's area.
  8. By failing to have any documentation or support in his work file for the monthly rental amounts used in his Report, or references to such data.
  9. By failing to have any documentation or support in his work file for the gross living area adjustments made in his Report.
Based on the foregoing, Respondent violated Section 475.624(15) when he failed to exercise reasonable diligence in developing and preparing his Report.
COUNT TWO
Petitioner realleges and incorporates by reference the allegations set forth in paragraphs one (1) through fourteen (14) as set forth herein.
Section 475.624(4), Florida Statutes, subjects a real estate appraiser licensee to discipline for violating any of the provisions of Chapter 475 or any lawful order or rule made or issued under the provisions of Chapter 455 or 475.
Section 475.629, Florida Statutes, subjects a real estate appraiser licensee to discipline for 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.
As set forth above, Respondent violated this statute in one or more of the following ways:
1. By failing to have any documentation or support in his work file for the site value he reached in his Cost Approach.
2. By failing to have any documentation or support in his work file for the site improvements used in his Cost Approach.
3. By failing to have any documentation or support in his work file for the low effective age he reached for the Subject Property.
4. By failing to have any documentation or support in his work file to show that he looked at or considered comparable sales in the Subject Property's area.
5. By failing to have any documentation or support in his work file for the monthly rental amounts used in his Report, or references to such data.
6. By failing to have any documentation or support in his work file for the gross living area adjustments made in his Report.
Based on the foregoing, Respondent violated Section 475.629 and, therefore, Section 475.624(4) when he failed 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.

COUNT THREE
Petitioner realleges and incorporates by reference the allegations set forth in paragraphs one (1) through fourteen (14) as set forth herein.
Section 475.624(4), Florida Statutes, subjects a real estate appraiser licensee to discipline for violating any of the provisions of Chapter 475 or any lawful order or rule made or issued under the provisions of Chapter 455 or 475.
Section 475.623, Florida Statutes, states an appraiser shall furnish in writing to the Petitioner each firm or business name and address from which he operates.
As set forth above, Respondent violated this statute by not furnishing his business name to the Petitioner.
Based on the foregoing, Respondent violated Section 475.623 and, therefore, Section 475.624(4) by failing to furnish his business name to the Petitioner.

WHEREFORE, Petitioner respectfully requests the Board of Real Estate Appraisal enter an order imposing one or more of the following penalties: permanent revocation or suspension of Respondent's license, restriction of practice, imposition of an administrative fine, issuance of a reprimand, placement of Respondent on probation, assessment of costs, corrective action and/or any other relief that the Board deems appropriate.

Signed this day of "'-...J\1,A L?

, 2010.

=-1....-,,'-''-C_

CHARLIE LIEM, erim Secretary Department of usiness and

Profession 1 Regulation

By:

Sen· Attorney

Blakeman

Fl rida Bar No. 0506877 Department of Business and

Professional Regulation Division of Real Estate

400 W. Robinson Street Suite 801-N

Orlando, FL 32801

(407) 481-5632 Telephone

(407) 317-7260 Facsimile

·.. --·-·

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PCP Date: 6/10 PCP Members: CW/FG

NOTICE TO RESPONDENT(S)

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 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 nave 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 Commission 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 licensB or registration. Please see the enclosed Explanation of Rights and Election of Rights form.

TJ 07-1073

·. '•<DAlE

8/17/2007

. . . •, .REFeREl!lCE

Internal Order#: TJ 07-1073

Lender Case #:

Client File#:

Main File # on form: TJ 07-1073 Other File # on form: TJ 07-1073 Federal Tax ID:

Employer ID:

IFile No. TJ 07-10731 Page #11

FROM: INVOICE

Triton Appraisal , ... .. .·' lN.VOOlE'tM,IBBI

4511 Ring Neck Road

Orlando, Fl 32808

Telephone Number: 407-592-9321 Fax Number: 407-47S-3842

TO:

Superior Mortgage Group Tampa, Fl

Telephone Number: Fax Number:

Alternate Number. E-Mail:

Lender: Superior Mortgage Group Client: Superior Mortgage Group

Purchaser/Borrower: Elliot Meadows

Property Address: 550 Magnoli11 Ave

City: Daytona Beach

County: Volusia State: FL Zip: 32114-4252 Legal Description: W 50 Ft Of S 231.3 Fl Of lot 6 Blk 23 Daytona Mb 2 Pg 82

fief$ ,AMOUNT

Duplex Appraisal 800.00

SUBTOTAL 800.00

Date: Description: 800.00

Date: Description:

SUBTOTAL 800.00

Check#: Check#: Check#:

Thank you

$ 0

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Ale No. TJ 07-1073

Co Volusia

State FL Zi Code 32114--4252

August 20, 2007

550 Magnolia Ave

W 50 Ft Of S 231.3 Ft Of lot 6 Blk 23 Daytona Mb 2 Pg 82

Daytona Beach, FL 32114--4252

Superior Mortgage Group 4919 Memorial Hwy

Tampa, Fl 32714

Invoice .........................................-- 1

Small Income 2

Supplemental Addendum w/sig block .........................., 9

Operating Income Statement 10

General Text Addendum 12

Subject Photos 14

Internal Subject Photos Untt A 15

Comparable Photos 1-3 16

Building Sketch (Page - 1I 17

Location Map 18

E & 0 Insurance Page 19

License Page. 20

Plat Map 21

Plat Ma 22

Supplemental Addendum w/sig block 23

Plat Map 24

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File# TJ 07-1073

Small Residential Income Property Appraisal Report TJ 07-1073

The purpose o1 this summary appraisal report is to provide the lender/client with an accurate. and adequately supported, opinion of the market value ol the subject property
Property Address 550 Maonolia Ave City Davtona Beach State FL ZIP Code 32114-4252
Borrower Elliot Meadows Owner of Public Record Elliot Meadows County Volusia
Leoal Oescriotion W 50 Ft Of S 231.3 Ft Of lot 6 Btk 23 Davtona Mb 2 Pa 82
Assessor's Parcel# 5339-01-23-0060 Tax Year 2006 R.E. Taxes$ 2,851.34
Neiahborhood Name Hodamans Davtona Mao Reference PB 12/13 Census Tract 0126.01
Occuoanl txl Owner I I Tenant I I Vacant Special Assessments $ 0.00 D PUO HOA$ 0.00 0 oervear I 7 per month
Pronertv Riohts Aooraised 15<:l Fee Simole I ·1 Leasehold f ] Other !describe)
Assiomnent Tvoe [ J Purchase Transaction Refinance Transaction 0 Other !describe
Lender/Cuent Suoerior Mortaaae Grouo Address 4919 Memorial HWII Tamoa Fl
Is the subiect property currently ottered for sale or has it been ottered for sale in the twelve months orior to the effective date of this aooraisal? [] Yes No
Report data source(sl used, ofterina orice(sl. and date(sl. MLS

I O did O did not analyze the contract tor sale for the sub1ect purchase transaction. Explain the results of the analysis of the contract lor sale or why the analysis was not pertormed.

Contract Price $ Date of Contract Is the property seller the owner of public record? Yes [ 7No Data Sourcetsl
Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behatt of the borrower? D Yes No tt Yes, report the total dollar amount and describe the items to be oaid.


Note: Race and the racial composttion of the neighborhood are not appraisal factors.
Neighborhood Characteristics	2-4 Unit Housina Trends	2-4 Unit Housing	Present Land Use %
Location I I Urban IX] Suburban I I Rural	Pronertv Values I 1 tncreasino [XI Stable 0 Oaclinino	PRICE AGE	One-Unit 80 %
Built-Uc IXl Over 75% I J 25-75% I 7 Under 25%	Demand/Supply I ] Shortage In Balance [ J Over Supply	$ (000) (yrsJ	2-4 Unit 10 %
Growth [ ] Rapid Stable I ] Slow	Marketina Time [ l Under 3 mths 3-6 mths [ ] Over 6 mths	150 Low New	Multi-Familv %
Neighborhood Boundaries The subiect is bounded to the North bv International Soeedwav to the South		400 High 100+	Commercial 5%
bv BeNeville Road to the West bv Nova Road and to the East bv The Atlantic Ocean		225 Pred. 25	Other 5%
Neiahborhood Descriotion All services oublic and orivate and emolovment centers are located within easv drivino distances of the subject. It is
located in a neiahborhood of sinale lamilv and duolex stvle homes of moderate oualltv and value with averaoe market anneal. Prooertv values have
stabilized after several vears af aoareciation but value does not aooear to be decreasino.

Market Conditions (including suooort tor the above conclusions) Conventional financina is readilv available at rates which nurchasers consider attractive.
Current rates are under 7% with 2+/. ooints. Heatthv market conditions exist with t11oical marketin□time between three to six months. The subiect is
ohvsicallv reoresentative of the sales actillitv of duplex stvte dweUinos in the area and mirrors manv of the features that are apparently souoht alter.
There is no excess inventory beyond that which one might expect.
Dimensions One lot /Subiect to Survey) Area Tvoical Shaoe Rectanoular View Residential
Specific Zoning ClassificationRP Zoning Description Sinale Familv Duolex Multi- Familv allowed
Zonino Compiance !8'.l Leaal n Leaal Nonconformino (Grandfathered Use) n No Zonino [		llleaal (describe)
Is lhe highest and best use ol subject property as improved for as proposed per plans and specifications) the present use? l><3 Yes [ J No tt No, describe

Utilities Public Other (describe) Public Other (describe) Off-site Improvements· Tvpe Public Private
Electricitv 15<:l I 7 Water IX) 17 Street Asohatt [X] I J
Gas 11 I I Sanitarv Sewer IX) I I Alley N/A n []
FEMA Soecial Flood Hazard Area D Yes Ixl No FEMA Flood Zone X500 FEMAMao # 12127C0359G FEMA Map Date 4/15/2002
Are the utilities and/or off-site imorovements tvpical for the market area? IX! Yes I I No If No, describe
Are there any adverse site conditions or external factors (easements, encroachments, environmental condrtions, land uses, etc.l? n Yes 0 No II Yes, describe
See attached addenda.

General Descrilltion	Foundation	Exterior Description materials/condition Int	erior materials/condition
Units txl Two i I Three n Four	· 1 Concrete Slab rxJ Crawl Space	Foundation Walls Frame/Ava Flo	ors HWNinvl/Avo
1 I Accessorv Unit !describe below)	I Full Basement I I Partial Basement	Exterior Walls Side/Ava Wa	lls Drvwalll Ava
# of Stories 3 # of bldgs. 2	Basement Area n/a so.ft.	Root Surtace ComoShinole/Ava Tri	rr\l'finish Wood PainU Ava
Tvoe I 7 Det. Alt I lnS·Det./End Unit	Basement Finish n/a % Gutters & Downspouts Overhanc/Ava Ba		th Floor Vinvl/ Ava
Existino O Proposed Under Const.	] Outside Entry/Exit [ J Sump Pumo	Window Tvpe SH/Ava Ba	th Wainscot Tile/ Ava
Design {Style) Duplex/ 2 buildino	Evidence o1 [ J lntestation None Anrt n	Storm Sash/Insulated Asmd/Ava	Car Storage
Year Bulli 1903	7 Dampness Settlement	Screens Screens/Ava	None
Effective Age /Yrs) 25 Years	Heating/Coolin, g	Amenities	I Drivewav # of Cars
Attic I I None	I FWA ID HWBB / l rRadiant	I Fireplace(s\ # I 7 Woodstove(sl # Dr1	vewav Si.r1ace
r I Droo Srair I I Stairs	J Other IFuel /:lee:'	Patio/Deck One IX] Fence Wire	1 Garage # of Cars
r I Floor IX! Scuttle	Coolino D Central Air Conaitionino	I Pool I I Porch	.1 Carport # of Cars
D Fmished 0 Heated	Individual ID Other	D Other 0A	tt. 0 Del 0 Buill-1n
# of Appliances IRefrigerator 3 IRange/Oven 3	Dishwasher IDisposal 0	Microwave o IWasher/Dryer 0 Oth	er (describe)
Unit # 1contains: 8 Rooms 4 Bedrooms 4 Baths		1,832 Souare Feet ol Gross Living Area
Unit # 2 contains: 4 Rooms 1 Bedrooms 1 Baths		532 Souare Feet of Gross Livino Area
Unit # 3 contains: Rooms Bedrooms Baths		Sauare Feet of Gross Livmg Area
Unit # 4 contams: Rooms Bedrooms Baths		Souare Feet of Gross Livino Area
Additional features (special enerov efficient items, etc.). Tvoical Items.

Describe the conditmn ot the property (includino needed repairs, detenoration. renovalions. remodetma, etc.). No functional inadenuacies were noted. Overall the
subiect ,morovements have been maintained and in averaoe condition. See Addendum.
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Are there any physical deficiencies or adverse conditions that affect the ovabititv, soundness, or structural integnty of the oropertv? I !Yes .>gNo If Yes, describe.

Does the property generally conform to the neighborhood (functional utilitv, stvle, condition. use, construction, etc.)?

12! Yes I ] No If No, describe.

Is the orooerty subject to rent control? □Yes [Xl No tt Yes, describe

The tallowing properties represent the most current. similar, and proximate comparable rental properties to the subject property. This analysis is intended to support the

opinion of the market rent for the subIect property.

FEATURE

SUBJECT

COMPARABLE RENTAL# 1

COMPARABLE RENTAL # 2

COMPARABLE RENTAL# 3

Address 550 Magnolia Ave

Davtona Beach FL 32114-4252

33 North Peninsula

Davtona Beach FL 32128

1610 Jones Street

Davtnna Beach FL 32116

520 Goodall

Davtona Beach FL 32114

Proximity to Subject

·.

1.9 m.U..es,,·NE

0.92 mijes SE

1.74 miles NE

Current Monlhlv Rent

$ 1,600

... · 1$ 2450

; .·· .

$ 1,900

$ 2130

Rent/Gross Bldo. Area

$ 0.68 SQ.ft.

-..·.,-·:<"..,,. ·. :, ·- '.-'j$ 1.ooso.ft.

,,:,,,,;.; :1$ 0.89 SQ.ft.

·•·

$ 1.14 SQ.ft.

Rent Control

Yes iX1 No

Yes IX'I No

Yes r2:I No

Data Source sI

MLS. lnsoection

MLS. Pub. Recs

Date of Lease(sl

short term leases

Unknown

Location

Residential

Actual Aoe

104 Years

83 Yrs/

27 Yrs/

55 Yrs/ Ave

Condition

Averaae

Gross Buildino Area

2 364

2 460

2144

1 875

:' Unrt Breakdown

Rm Count

Size Sq. Ft.

Rm Count

Size Sq. Ft.

Month Rent

Rm Count

Size Sq. Ft.

Monthly Rent

Rm Count

Size Sq. Ft.

Month Rent

Tot Br

2,364

Tot Br

2,460

2,450

Tot Br Ba

2,144

1,900

Tot Br

1,875

2,130

Unit# 1

1 832 5

1 330 $ 800

536 $ 450

625 $ 740

Unit# 2

532

1,130

$ 550 4

536 $ 450

625 $ 650

Unit# 3

$ 550 4

536 $ 500 5

625 $ 740

Unrt # 4

$ 550 4

536 $ 500

Utilities Included

None

Garaoe

None

Ooen

nnen

Ooen

Screened Patio

P.orch

Parch

An ysis of rental data and support for estimated market rents for the individual subject units reported below (including the adequacy of the comparables, rental concessmns,

etc.\ The rentals nravided are the best most recent and most similar available from within the subiect's immediate and surraundino area. Thev

are simiar 1-Storv/ DuPlex/ Triplex/ Quad in the area. It is necessarv to ao surround/no markets to find usable comnarable multi family orooerties

with recent rentals/rental listinas althouah all nronerties would be comnetitive in the onen rental market and are aood indications of market rent in

the subject's immediate area.

Rent Schedule: The appraiser must reconcile the applicable indicated mont market rents to provide an opinion of the market rent for each unrt in the subject property.

leases

I C Act!lal.Re[!ls

Untt#

Lease Date

Per Unit

Total Rents

Per Unit

Total Rents

Beoin Date

End Date

Unfurnished

Furnished

Unfurnished

Furnished

- 1

Month to Month

N/A

$ 1200 $

$ 1,200$ 1,200$

$ 1,200

Ownerocc

NIA

600

Comment on lease data Lease data was

Total Actual Monthly Rent

$ 1,200

Total Gross Monthlv Rent

$ 1,800

orovided bv the mooertv owner and tenants

Other Monthlv Income /itemize)

Other Monthlv Income nemize)

ITotal Actual Monthlv Income

$ 1,200

Total Estimated Monthly Income

$ 1800

.. Ulilities included in estimated rents [l Electric [] Water n Sewer n Gas 0011 0 Trash collection D Cable [ Other

Comments on actual or estimated rents and other monthlv income includino personal property) Market rents were used as thev aooear to be nearlv in line with

market rent in the area. Subiect is fullv occuoied and collectina rent on a weeklv basis this oushes actual collected rents above market rents.

Subiect can be estimated at aooroximatelv 2% on averaoe. Skmific:ant lack of rentals in the area assumptions have been made to arrive at most

orobable rental orice.

I :,;i did

J did not research the sale or transfer historv of the subIect nrooertv and comoarable sales. If not, exolain

Mv research [ I did did not reveal anv prior sales or transters of the subiect propertv for the three vears prior to the effective date of this appraisal.

Data Source s I Countv Records

My research [i did did not reveal any prior sales or trans1ers of the comparable sales for the vear prior to the date of sale of the comoarable sale.

Data Source(s) Countv Records

Report the results of the research and analvsis of the prior sale or transfer history of the subject prooerty and comparable sales (report additional prior sales on oaoe 31.

ITEM

SUBJECT

COMPARABLE SALE # 1

COMPARABLE SALE # 2

COMPARABLE SALE # 3

Date of Prior Sale/Transfer

197,000 08/06

n/a n/

nla

, Price of Prior Sale/Transter

nla

n/a I nla

n/a

Data Source/s)

Public Records

Public Records Pu

blic Records

Public Records

Effecbve Date of Data .Source(s

A11nust 18 2007

Auoust 18 2007 IAuoust 18 2007

Auaust 18. 2007

Analysis of prior sale or transfer history of the subject orooertv and comparable sales Prior sale was a lease ourchase. No orior sales for the subiect or its

comnarables.

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Opinion of Market Rent

File# TJ 07-1073

•

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Freddie Mac Form 72 March 2005 F@iillE Mae Fbrm i025 March 2005

There are 0+/. comparable propertJes currently ottered for sale in the subiect neighborhood ranging in price from $ n/a to$ n/a

There are 0+/. comparable sales in the subiect neiohborhood within the past twelve months ranaing in sale price from $ nla to$ nla

FEATURE

SUBJECT

COMPARABLE SALE # 1

COMPARABLE SALE # 2

COMPARABLE SALE # 3

Address 550 Magnolia Ave

Davtona Beach. FL 32114-4252

308-Wellman Street

,l:)avtona Beach, FL 32127

70.l-.J\I. Grandview

-Davtona Beach, FL 32119

921 N. Wild Olive Avenue D"""nna Beach, FL 32114

Proximitv to Subiect

1.69 lniles NW

Sale Price

$ 300,000·:

- < •.. :· ,.· $ 268.50t

$ 268,000

Sale Price/Gross Bldo. Area

$ so.ft.$ 93.63 so.ft.

.>- · .. -·,.:':;:..

$ 148.67 so.ft.

' . ;

$ 200.90 so.ft.

Gross Monthly Rent

$ 1,800[$ 1,718

. ;.•. •'·>;.:"'!;<"' $ 1,718

,,, .. .,-·· ·,

$ 1,718

Gross Rent Multiplier

17 Fl?

·'::','.'.k'j,":,.;.·!'I

156.29

,. ·., ;.

156.00

Price per Unit

$ 150,000

.:.,:OE:.::,!!;:,'{,,>,., $ 134,250 '" ,·;-- ., ; ' • $ 134 000

Price per Room

$ 18 750

,:._•/' ' :/;';.•,: ? $ 26850

..:·•.Y>e · .. ,· $ 19143. ·.

Price per Bedroom

$ 75,000

:·:, '<S :\'.ff: $ 53 700

•···.::•,,<. ·... , : $ 33,500

Rent Control

OYest><lNo

I Yes IX\ No

IYes No

I Yes RI No

Data Source(s}

··.·· .

,•.,.

Public Records/Microbase

Verification Sourcels)

,, ::.,;,:,:

Drive Bv lnsoection/ MLS

Drive Bv tnsoection/ MLS

Drive Bv Inspection/ MLS

VALUE ADJUSTMENTS

DESCRIPTION

+ H Adiustment

DESCRIPTION

+ (-\ AdIustment

DESCRIPTION

+H AdIustment

Sale or Financing

Concessions

··Conventional

. .

Conventional None Noted

None Noted

Date of Sale/fime

, . ... '0

6/2007

11/2006

06/2007

Location

Residential

Leasehold/Fee Simole

Fee Simole

Site

Tvoical

View

Residential

Design (Sivie\

Duotex/ 2 buildino

Triplex/ 2-Storv

Duolex/ 1 buildina

Triplex/ 1-Storv

Oualitv of Constructmn

Averaae

Averace

Averaae

Actual Aae

104 Years

67 Year

42 Years

84 Years

Condition

Averaae

Averace

lAveraae

Averaoe

Gross Buildino Area

2 35,

3,204

-18480

1,BOE

+12,276

1,334

+22,660

Total

Bdrms

Baths

Total Bd

rms

Baths

Total

Bdrms

Baths

Total

Bdrms

Baths

'. Unit# 1

Unit# 2

1.5

Unit#4

Basement Description

n/a

N/A

Basement Finished Rooms

NIA

N/A

Functional Utility

Tvoical

Heatina/Cootina

CHA

Energy Efficient Items

n/a

Parkino On/Oft Site

None

2 Garaae

-4 000

PorcM'atia/Deck

1- Porch

Fence

None

Pool

None

Net Adiustment (Total)

:-,,

n+ -

$ -18.480

t><l+ [ ]-

$ 12,276

RI+ ["'I-

$ 18,660

Adiusted Sale Price

of Comparables

,:•,;•;

Net Adj 6.2 %

Net Adj. 4.6 %

Net Adj. 7.0 %

Gross Adj. 9.9 %

$ 286,660

Gross Adj. 6.2 % $ 2.8..1..,520

Gross Adj. 4.6 % $ 280,776

Adjusted Price Per Unit (Adj.SP Comp I # of Comp Units)

$ 140 760

,, .

$ 140 388

·:·

s 143 330

Adjusted Price Per Room !Adi. SP Comp1#,,Comp Rooms!

$ 17 595

•.• ' ·:::· ,·.•:. $ 28,078

$ 20476

Adjusted Price Per Bedrm!Alli SPComo/#olComol!edrooms $ 70,380

'.i· .;

$ 56,155

. ; $ 35 833

Value per Unit $ 150 000 X 2 Units=$ 300,000

Value per GSA $ 110 X 2,364 GBA = $ 260 040

Value oer Rm. $ 25000 X 12 Rooms=$ 300 000

Value oer Bdrms. $ 45 000 X 5 Bdrms. = $ 225 000

Summarv of Sales Comparison Approach includino reconciliation of the above indicators of value. All sales were tvoical of value in the area, the best found

and contributed to the final market value estimate of the subiect. The subiect orooertv is tvoical and comoatible with other properties in the

neiahborhood. Comos used are the best and most recent available and were adjusted for livina area and bathroom count. Due to a lad< of recent

comoarable sale in the immediate vicinitv to the subiect it was necessarv to co to comoetitive markets outside of a one mile radius however all

properties would be comoetitive in the open market. Value per Unit, Rm GBA and Bdrm have been estimated from adiusted comoarable sales

information breakdown and suooorts the final reconciliation of market value. All orooerties come wtthin the same market area for duplex stvle

orooerties and would be comoetitive in the ooen market. Limited triolexes and ouads to choose from.

Indicated Value bv Sales Comoarison Annroach $ 285,000

Total oross monthly rent $ 1,800 X gross rent multiplier (GRM

160 =$ 288 000 Indicated value bv the Income Approach

rental information of recent sales in the area. Market rent was derived from the market rent analvsis included on this form.

Indicated Value bv: Sales Comparison Approach $ 285,ooo Income Approach$ 288.000 Cost Approach (if developed)$ 270,344

See attached addendum.

;;

This appraisal is made [SJ ··as is", [] subIect to completion per plans and specificafions on the basis ol a hypothetical condition that the improvements have been

attached aeneral assumotions limitino conditions and aooraiser's certification. This reoort is consistent with a "Summarv Annraisal Reoort" as

Based an a complete visual inspection of the interior and exterior areas of the sli>ject property, defined scope of work, _statement of as uition !"d limiting conditions, and appraiser's certification, my (our) opinion of the market value, as 'l,N¥1 1@ifrcjAAdflli6t\jsH!ie@@MJillii•·. 9!1\lst

$ 285.000 , as of Auaust 20. 2007 , which is the date of insN>clion anc the effective elate of this appraisal.

1.96 rnles NE f 2.61 miles NE

Unit Breakdown

Unit# 3

Comments on income approach includino reconciliation of the GRM Less weiaht has been aiven to the Income L>nnroach. GRM was aocroximated from

completed, [J subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or [] subIect to the following required inspection based on the extraordinary assumotion that the condition or deiiciencv does not require a eration or repair: This aoora,sal is subiect to the

FIie# TJ 07-1073

Freddie Mac Form 72 March 2005 Page3o![XH lT -r I Fannie Mae Form1 n?, ,, ?nn,

,_ I

Form 1025 - "WinTOTAL" appraisal sottware efIAa . me. - 1-8 -ALAMODE OF












































COST APPROACKTOVALIJE(notrilalriredbvfanrjieMae)
Provide adeauate information tor the lencler/cnent to reolicate till below cost fioures and calculations.
Suaoart for the oainion ot srte value (summarv of comnarable land sales or other methods tor estimatino site value\ Estimation



ESTIMATED I 7 REPRODUCTION OR IX1 REPLACEMENT COST NEW	OPINION OF SITE VALUE .. =$	40,000
; Source at cost data Estimation	DWELLING 2,364 SQ.Ft. @ $ 125.00 . =$	295,500
	n/a Sa.Ft.@$ =$
: Comments on Cost Aooroach laross livmo area calculations, deareciation, etc.\	Additional features -$	25,000
See addendum	Garan e/Camort Sn.Ft. l1il $ 0 -$
	Total Estimate of Cost-New =$	320,500
	Less Phvsical 7Functional 7Extemal
	Depreciation 100,1516 I =Si	100 15s:
	Deoreciated Cast of lmorovements .. ·•·••····· -$	220 344
	'As-is" Value of Site Improvements =$	10,000

Estimated Remaining Economic Ute (HUD and VA only) 55 Years	INDICATED VALUE BY COST APPROACH =$	270.344
.· •·PROJECllNFOlllWJQN'FQl!iPIIDa(ff,...;;,n,,,,1ili!) .
Is the developer/builder in control of the Homeowners' Association (HOA!? n Yes r 7 No Unrt tvnets\ r l Detached D Attached
Provide the tallowing intarmatian tar PUDs ONLY it the developer/builder is in control of the HOA and the subject propertv is an attached dweHing unit.
. Leaal Name ol Prmect
Total number of chases Total number of units Total number of unrts sold
Total number of units renled Total number of unrts tor sale n Data sourcels\
Was the proiect created bv the conversion of existina buildina(s\ into a PUD? Ye.s il No It Yes, date ot conversion.
Does the oroiect contain anv multi-dwellmo units? I 7 Yes r 7 No Data Source
. Are the units, common elements, and recreation 1acilrt1es comolete7 11 Yes n No It No, describe the status of completion.

Are the common elements leased to or bv the Homeowners' Association? n Yes n No If Yes. describe the rental terms and ontions.

Describe common elements and recreational facilities. -- ------ - ·- - - - . .

/1'\,UIV! ! l\l , , n;,A I i ,; ::. 1.,tJ!VLr 1..t'.U'! t

Qualitv ratina from cost service Ave Effective date of cost data 04110107

File# TJ 07 1073

7f-r------------+----

Freddie Mac Form 72 March 2005 Page 4 of 7:: x· H,r,; IT -IL / Fannie Mae Form 1025 March 2005

i... , I ,CH ,

Form 1025-'WinTOTAL" appraisal software tfliA@<e:: inc. -1- AMODE

Small Residential Income Property Appraisal Report

IFile No TJ 07-10731 Page #61

TJ 07-1073

File# TJ 07-1073

□).

This report form is designed to report an appraisal of a two- to four-unit property, including a two- to four-unit property in a planned unit development (PU A two- to tour-unit property located in either a condominium or cooperative project requires the appraiser to inspect the project and complete the project information section of the Individual Condominium Unit Appraisal Report or the Individual Cooperative Interest Appraisal Report and attach it as an addendum to this report.

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 tor this appraisal is defined by the complexity of this appraisal assignment 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 property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources, and (5) 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.

DEFINITION OF 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 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; ana (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 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:

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 involved in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opinions about the title.
The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements, including each of the units. The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determination of its size.
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.
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.
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 report, 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 tor any such conditions that do exist or tor 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.
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 72 March 2005
li:;•.i",t"!:
' ,r\';.lt..
Form 1025- "WinTOTAL" appraisal software oy a la mode, inc. -"""f'!ltltr-At7lll'll'!DE Li

Small Residential Income Property Appraisal Report
!File No. TJ 07-10731 Page #81

TJ 07-1073
File# TJ 07-1073
1. The lender/client may disclose 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; government 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 report 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).
2. I 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, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me.
3. The borrower, another lender 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.
4. 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.
5. 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 both 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:

I 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.
I 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.
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.
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 report was prepared.
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.

APPRAISER

. SIgnta ure /"j / {',/ ',u1i f\fea' ,...,-

SUPERVISORY APPRAISER (ONLY IF REQUIRED)

Signature

Name r/4othy Jones

Company Name _,_T,.,,rit,,,,on'-'-"'Ap"'p"'ra:::is:::ac::ls,

Company Address 4511 Ring Neck Road

Name

_ Company Name Company Address

Orlando Fl 32808

Telephone Number .1.{4_,_,0"-7'-'l3::..;1"'2--'-4"'2=-c57 Email Address ionesionesjones3@hotmail.com Date of Signature and Report September 19, 2007 Effective Date of Appraisal ,_Au,,,g,.,us=.t2,,,o.,.,_,,2,,,00,,_7

_ Telephone Number Email Address Date of Signature

_ State Certification#

State Certification# or State License# St. Cert Res. REA 0003508

or Other (describe) State# _

State _cF;.L _

Expiration Date of Certification or License 11/30/2008

ADDRESS OF PROPERTY APPRAISED

550 Magnolia Ave

Daytona Beach, FL 32114-4252

APPRAISED VALUE OF SUBJECT PROPERTY$ 285.000

LENDER/CLIENT

Name

Company Name Superior Mortgage Group

Company Address 4919 Memorial Hwy, Tampa Fl

or State License# State

Expiration Date of Certification or License

SUBJECT PROPERTY

D Did not inspect subject property

D Did inspect exterior of subject property from street

Date of Inspection

D Did inspect interior and exterior of subject property

Date of Inspection

COMPARABLE SALES

□

D Did not inspect exterior of comparable sales from street Did inspect exterior of comparable sales from street Date of Inspection

Email Address

Freddie Mac Fonn 72 March 2005 Page 7 ot7

Form 1025- "WinTOTAL" appraisal sottware by a la 9: 'tc,1-800-ALA DE

Supplemental Addendum

\File No. TJ 07-1073! Page #9)

File No TJ 07-1073

Borrower/Client Elliot Meadows
Property Address 550 Maonolia Ave
Citv	Davtona Beach	Countv Volusia	State FL	Zip Code 32114-4252
Lender	Suoerior Mortoaoe Group

I analyzed all comparables in the area and had difficulty finding any more recent sales. There is a lack of Investment type homes in the area. All duplexes have been analyzed. Several sales found but not used are below with the reasons.

124 Loomis (175,000, 07/07) County Records describes this "sale" as a Quit Claim Deed. The previous sale for this property is $223,000 in April 2005. There is no way the most recent suggested sale would be used.

311 Goodall (160,000 12/06) I have included a property record card stating that this is a "Distress Sale" I can not entertain this sale. It is not Qualified.

135 Oleander (172,000 10/06) I have included a property record card stating that this is a "Distress Sale" I can not entertain this sale. It is not Qualified.

205 Shady Place(189,000 05/07) I evaluated this and also determined that this is not Qualified. I have included an MLS listing for this property that expired just prior to sale for $355,000. I have put a call in to listing agent and am awaiting a call back. Sellers are not taking a 50% price cut, it doesnt make sense.

The sales I used are the best available. There are limited sales of similar properties. The subject is located in an area surrounded by 2 colleges. It has had a desirable effect on investment type properties in the area. Renter's are readily available throughout the year. There is limited transfer of these properties. Investors buy them and hold due to probabiltty of upside potential. It makes it difficult to find and analyze as many comps as we would like.

" _LI

--.--Of-------

----

Signature ;{.JJ....-l}rr,.J-- Signature _

Name Timottiy Jone£ " Name

Date Signed September 19, 2007 Date Signed

State Certification# State State Certilicahon # State Or State License # St Cert Res. REA 0003508 State EL_ Or State License # State

Form TADD2 - 'WinTOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE 31

!File No TJ07-1073I Paoe#10I

Operating Income Statement TJ 07-1013

One- to Four-Family Investment Property and Two- to Four-Family Owner-Occupied Property

Propeny Address

550 Magnolia Ave Daytona Beach FL 32114-4252

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 tor utility expenses. Rental figures must be based on the rent for an "unfurnished" unit.

Currently Expiration Current Rent Market Rent Rented Date Per Month Per Month

Utility Expense

Paid By Owner

Paid By Tenant

Unit No. 1

Unit No. 2

Unit No. 3

Yes_.lSl Noll $ 1,200 $ 1,200 Electricity D D

YesJ& Noll $ 600 $ 600 Gas D D

Yesll Noll $ ---- Fuel Oil □ D

Unit No. 4

Yesll Noll $.

_ $

Fuel (Other) D D

Total

$ 1,800

Water/Sewer . D D

Trash Removal . D D

The applicant should complete all of the income and expense projections and tor 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 2881300). It the appraiser 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 relevant information as to the income and expenses of the subject propeny received from the applicant to substantiate the pro1ections. The underwriter should carefully review the applicant's/appraiser's projections and the appraiser's comments concerning those projections. The underwriter should make any final adjustments that are necessary to more accurately reflect any income or expense items that appear unreasonable tor the market. (Real estatti taxes and insurance on these types of properties are included in PIT/ and not calculated 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 currentiy vacant, market rents should be used.

Annual Income and Expense Projection tor Next 12 months

Income (Do not include income for owner-occupied units)

Gross Annual Rental (from unit{s) to be rented) .

By Applicant/Appraiser

. {tvlarl<et) $ 2 1 ,6 00 --

Adjustments by Lender's Underwrrter

other Income (include sources) . Total

+ + _

$ 21,600 $

Less Vacancy/Rent Loss .

648 3%)- %)

Effective Gross Income

$ 20,952

Expenses (Do not include expenses for owner-occupied units) Electricity . Gas Fuel Oil
Fuel Water/Sewer .	..... (Type-------	200 200
Trash Removal		80
Pest Control		250
Other Taxes or Licenses
Casual Labor

This includes the costs for public area cleaning, snow removal, etc., even though the applicant may not elect to contract tor such services.

Interior PainVDecorating

This includes the costs of contract labor and materials that are required to maintain the interiors of the living unit.

200

General Repairs/Maintenance This includes the costs of contract labor and materials that are required to

maintain the public corridors, stairways, roots, mechanical systems, grounds, etc.

Management Expenses These are the customer expenses that a professional management

company would charge to manage the property.

Supplies ...

This includes the costs of items like light bulbs, janitorial supplies, etc.

Total Replacement Reserves - See Schedule on Pg. 2

297

Miscellaneous

Total Operating Expenses

Freddie Mac Form 998 Aug 88

$. 1,=2_77

This Form Must Be Repro ced,By._Seller...

.,1------,--.

Page 1 012 ·

_ $

216 Aug 88

•':•:: "' "".'"Ffaonrmriie\Mae

Triton Appraisals (321) 946-4.070 U'"I ,,, ,..

Form INC2 - "WinTOTAL" appraisal software by i4.;i._rpgpe, inc. -11 0-ALAMOOl;,J, 32

Replacement Reserve Schedule

Adequate replacement reserves must be calculated regardless of whether actual reserves are provided 1or on the owner's operating statements or 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. roots, and carpeting, etc. - should be expensed on a replacement cost basis.

Equipment

Replacement Remaining By Applicant/ Lender

Cost Life Appraiser Adjustments

Stoves/Ranges	.. @	$ 300	ea.		_1Q_ Yrs. X	2	Units=$	30	$
Refrigerators	@	$ 300	ea.		15_ Yrs. X	2	Units=$	40	$
Dishwashers	@		ea.		Yrs. x		Units=$		$
NC Units	@	$ 2,000	ea.		_1Q_ Yrs. X	2	Units=$	200	$
C. Washer/Dryers	.. @	$	ea.		Yrs. x		Units=		$
HW Heaters .	... @	$ 200	ea.		15_ Yrs. X	2	Units=$	27	$
Fumace(s)	.... @	$	ea.	+	Yrs. X		Units=$		$
(Other)	....... @		ea.	+	Yrs. x		Units=$		$
Roof	@ $			Yrs. x One Bldg.=			$		$

Carpeting (Wall to Wall)

(Units) --- Total Sq. Yds. @ $ Per SQ. Yd. +

Remaining Life

Yrs. $ $

(Public Areas)

Total Sq. Yds. @ L_ Per Sq. Yd.

Yrs. $

Total Replacement Reserves. (Enter on Pg. 1)

Operating Income Reconciliation

$ 297

$ 20,952

Effective Gross Income

- $ 1,277

Total Operating Expenses

$ · 19,675 + 12 $ 1,640

Operating Income Monthly Operating Income

$ $ 1,640 - $ -------- $

Monthly Operating Income

Monthly Housing Expense

Net Cash Flow

(Note: Monthly Housing Expense includes prtncipal 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

If Monthly Operating Income is a positive number, enter as "Net Rental Income" in the "Gross Monthly Income" section o1 Freddie Mac Form 65/Fannie Mae Form 1003. tt 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 compartng the total Monthly Housing Expense 1or 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 MaeForm 1003. If Net Cash Flow is a negative number, it must be included as a liability for qualrtication purposes.

The borrower's monthly housing expense-to-income ratio must be calculated by comparing the total monthly housing expense tor the borrower's primary residence to the borrower's stable monthly income.

Appraiser's Comments (Including sources tor data and rationale tor the projections)

Appliance direct provided an estimate of appliances prices and estimated !We span.

Timothy Jones Appraiser Name

July 23, 2007

Date

Underwriter's Comments and Rationale for AdJustments

Underwriter Name

Underwnter Signature

Freddie Mac

Form 998 Aug 88 Page 2 of 2

1 I

Fannie Mae

.fE1JJcrro:m...i;.;ii.;G.i• M g,f8!flB,----

Form INC2 - ''WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE

- /1 OF

Borrower/Client Elliot Meadows
Proaertv Address 550 Maanolia Ave
Citv	Dautona Beach	County Volusia	State FL	Zic Gode 32114-4252
Lender	Suoerior Mortaaae Grouo

Adverse Environmental Conditions:

No adverse environmental conditions were noted during the property inspection effecting the subject or surrounding properties.

Additional Comments:

This is a summary appraisal report, which is intended to comply with the reporting requirements set forth under Standards Rule 2-2(b) of the Uniform Standards of Professional Appraisal Practice for summary appraisal report. as such, it presents only summary discussion of the data, reasoning, and analyses that were used in the appraisal process to develop the appraiser's opinion of value. Supporting documentation that is not provided with the report, concerning the data, reasoning, and analyses is retained in the appraiser's file. Toe depth of the discussion contained in this report is specific to the needs of the client and for the intended use stated in the report. The appraiser is not responsible for unauthorized use of this report.

To develop the opinion of value, the appraiser preformed a complete appraisal process. As defined by the Uniform Standards of Professional Appraisal Practice, this means that no departures from the standard were invoked.

Third party users of this appraisa1 report are warned that, unless this appraisal has original signatures, the information contained in the body of the report cannot be relied on as true and/or accurate. The appraiser cannot be held responsible for information that is not authorized by the appraiser.

Intended use and function of the appraisal:

This report is intended for use only by the client, Vinecrest Mortgage. Use of this report by others is not intended by the appraiser.

The function of this appraisal is to estimate the market value of the fee simple interest in the subject property, as defined in the USPAP. The appraisal's purpose is to aid the client in decision making regarding mortgage lending. The appraisal is to be used by the client within 60 days. The effective date of this appraisal and the date the appraisal report was prepared are identical.

The development of this Appraisal has included a thorough analysis of the surrounding market, and an analysis of the highest and best use of the subject property. ln estimating the market value of the subject, the Appraiser has utilized the market approach, the cost approach and , the income approach to value.

The extent of the research effort focuses primarily in the Haines City area and nearby similar market areas for land and improved sales. The property was personally inspected and the title of the existing parcel has been checked through one one or more of the following reporting services: Microbase, MLS, Public Records, Win2Data. Data on comparable sales was gathered and analyzed, all comparable sales financing information has been noted, the opinion of the final values has been estin1ated from the data which was considered to be indicative of the market value of the fee simple interest in the subject

property.

Site Comments:

There are no known apparent adverse easements, encroachments or special environmental conditions or non-conforming zoning use which would adversely affect the market value of the subject property.

However, the appraiser is not trained or equipped to detect latent or unapparent conditions. Lot size is typical of properties within the area and meets functional and aesthetic expectation of purchasers in this market price range. The subject is located in close proximity to a railroad, however there is not enough market data to suggest that the proximity to the railroad would have a negative impact on marketability for a duplex style dwelling.

Conditions of improvements:

Functional utility, quality of construction, and overall market appeal is typical for the immediate area. The subJect did not exhibit any funct-ional or external inade,91:1ac;;1 s t.the,,tnnf 9\IIJ ectiol!-: 9y r ll the

subject has been well maintamed and is in average condition.-· ·•·: .r\.' '\ ··- LA, , , 1 r' 1..AlN1

;::

,w·; iit-----------:------

.P1/2iGE /'1- 1

Form TADD - "WinTOTAL" appraisal sottware by a la mode, inc. T-800!7\DIMDDE

Borrower/Cient Elliot Meadows
Prooertv Address 550 Maonotia Ave
Citv	Davtona Beach	Countv Volusia	State FL	Zip Code 32114-4252
Lender	Superior Mortoaoe Grouo

Comments on sales comparison:

All three comps are located within the subject's market area, are similar in quality of construction, and were given consideration in the final estimates of value. The appraisal is based on matching the most similar sales to the subject.

Conformation of sales information:

Attempts have been made to confirm all sales information utilized in this appraisal. In the absence of specific confirmation from one of the parties involved in the transaction, this appraiser has relied on at least two sources of public information to confirm the validity of the sales information.

*This report has been electronically prepared and transmitted to the client in compliance with USPAP guidelines which include verification of complete file transfer and delivery, digitally protected signature and adequate security measures in place to protect the data transmitted by the appraiser.

Small Income : Site - Adverse Site Conditions or External Factors

No adverse easements, encroachments, special assessments of conditions were noted. Site dimensions and FEMA flood zone statuses are subject to survey. The subject is located in close proximity to a railroad, however there is not enough market data to suggest that the proximity to the railroad would have a negative impact on marketability for a duplex style dwelling.

Concerning the Cost Approach: The Cost Approach was considered but due to the less reliable nature of this approach it will not be heavily weighted. if at all, in this report. it has been provided at the behest of the lender, however, only approximations will be used based on the appraiser's knowledge of existing cost values. Cost data is inconsistent and unreliable, therefore, cost value is nono be considered conclusive. Marshall & Swift will not be used. It should be noted that the Cost Approach is not required by Fannie Mae and the appraiser

recommends placing full emphasis on the Sales Comparison Approach.

Site value is also an estimation based on the appraiser's best knowledge of the market. In the opinion of the State Certified Appraiser, the site value does not facilitate greater insight as to the final value of the subject. A parcel of real property with an improvement can no longer be sold or transferred as vacant land, therefore, deriving the market value of land as though

vacant tends little if any practical information. Vacant site value is still obtained best through market value, meaning any various aspects, such as frontage, size, location or view which would affect the value of the vacant site would now be contained within the overall market value of the improved site. Furthermore, any of these various aspects of a parcel which have a market advantage against other improved parcels would be identifiable and reconcilable through adjustments wrthin the Sales Comparison Approach. If a more detailed analysis of site value is required, the appraiser recommends a Land

Appraisal.

This is an 'as is' appraisal in which on the effective date the subject was an improved (not vacant) parcel and, therefore, the relevance of a separate site value is negligible an not to be considered heavily in this report. The Cost Approach has been

estimated for home insurance purposes only. (See 'Appraiser's Certification' page 5 of the URAR, section 4).

The estimated remaining economic life of a property is also included as part of the Cost Approach. The economic life of a property is typically calculated by subtracting the actual age from the total useful life of a property. The 'useful life' of a property is based on several considerations such as: quality of construction, calculated depreciation, market trends. short and long-lived maintenance attributes and calculated effective age. It should be noted, however, this is an estimated forecast based on several other minimally supportable calculations. This number will be predicted by the appraiser based mainly on the age of the improvement whereas the remaining economic life is typically between 35 to 120 years. It is recommended to place minimal emphasis on this forecast due to the highly unpredictable factors involved. Unless further and more conclusive

data suggests a number other than what is stated in this report, this estimation will be deemed as adequate.

Form TADD - 'WinTOTAL" appraisal sottware by a la mode, inc. - 1-800-ALAMOOE 35

Subject Photo Page

!File No. TJ 07-10731 Page #141

Borrower/Cient EUiot Meadows
Pron!!!I\I Address 550 Maanor,a Ave
Citv	Davtona Beach	County Volusia	State FL	Zip Code 32114-4252
Lender	Suoerior Mortaaae Grouo

Front Unit AB

550 Magnolia Ave Sales Price

Gross Living Area

Total Rooms 12

Total Bedrooms 5

Total Bathrooms 5

Location Residential

View Residential

Site Typical

Quality Average

Age 104 Years

Rear

Subject Street

Form PIC3x5.SR -'WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE

Subject Photos

IFile No TJ 07-1073! Page #15I

Borrower/Client Elliot Meadows
Property Address 550 Maonolia Ave
City	Davtona Beach	County Volusia	State FL	Zip Code 32114-4252
Lender	Suoerior Mortoaae Grouo

550 Magnolia Ave

Sales Price

Side

Gross Building Area 2,364

Age 104 Years

Kitchen

Living Room

Form PICPIX.SC- 'WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE

Comparable Photo Page

IFile No. TJ 07-10731 Page #16I

Borrower/Client Elliot Meadows
Prooeny Address 550 Maanolia Ave
City	Davtona Beach	Countv Volusia	State FL	Zip Code 32114-4252
Lender	Sunerior Mortnaae Grouo

Comparable 1

308 Wellman Street

Proximity to Subject 1.96 miles NE Sale Price 300,ooo

Gross Living Area

Total Rooms 16

Total Bedrooms 4

Total Bathrooms 3.5

Location Residential

View Residential

Stte Typical

Quality Average

Age 67 Year

Comparable 2

701 N. Grandview

Proximity to Subject 2.61 miles NE Sale Pnce 268,500

Gross Living Area

Total Rooms Total Bedrooms Total Bathrooms Location

View Stte Quality Age

Residential Residential Typical Average 42 Years

Comparable 3 921 N. Wild Olive Avenue Proximity to Subject 1.69 miles NW Sale Price 268,000

Gross Living Area Total Rooms 14

Total Bedrooms 8

Total Bathrooms 4

Location Residential

View Residential

Site Typical

Quality Average

Age 84 Years

Form PIC3x5.CR - "WinT0TAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

SEP-06-2007 THU 01:20 PU FIDELITY MORTGAGE SERV

FAX No, 40) 86 2 5230 P. 0('2

GENERAL STAR NATIONAL INSURANCE COMPANY

P.O. Box 10354

Stamford, Connecticut 06904

REAL ESTATE APPRAISERS ERRORS & OMISSIONS LIABILITY INSURANCE POLICY DECLARATIONS PAGE

Thia: it e claims made and reported policy.

Please read this policy and all endorsements and attachments carefully.

Policy Number: NJA9"422511

NAMJ=D INSURED: MAILING ADDRESS:

Tim.Ione&
4511 Rllll!;N.okllol4 Orllndo, FL 3 0lt
Renewal ci Number. N1A99422SA
POLICY PEFl.100: Inception Date, 08/16/Z007 Expiration D111;e; 0&/16/2008 Effective 12:01 a.m. Standard Tune at lhe mailing addreu of the Named Insured.
LIMIT OF LlABILllY:

EachClelm:

Aggrogllle:

Lock Box Liobfllty:

-4. CLAIM EXPENSES:

S 300,000

S 600,000 NIA

b. H•""• .,.parate limit ofllo.billty.

STATUS OF INSURED: lndepcadCllt Coutract,,.-
DEDUCTIBLE:
Each Claim:

$500/1,000
b. The deductibl6 amow,1 apecified above applies u, both Damages and Claw E.xpenres.
PRIOR ACTS DATE: 0&/16/2005
If a dale is indiCllted, this i11S11r1mw will not apply to any regular act. error, omission or personal ir,jury
which oCCUIT8d before such da1e.
PREMIUM: S 455.00 c!itioaoJJ.0% FLHurriaaacl'undSurclwp!.00

9, ENDORSEMENTS:

This policy is made and acceptacJ sucnm lhe printed condltlOns in this poucy together with lhe provisions,

stipuations and agreementli comained in tilefollowing farm(s) or endorsement[s}.

G RE-l:22 (117/2004) GSN-06-PL-SI tFl (0712003) GS!f.ON'W75 (02'2006) ot>-PL-201 (07/2004)

10. MANAGING AGENT

Herbert H, Landy lnsurarn:e Agency, Im;.

75.Second Avenue. Suile410 Needham. Massachusetts 02494--2876

Pro<lucor Code; 0002'230 Date; 08/1&2007

GSN-06-Rf-720 (03/2005)

Authonn,ci Reprasernative

Class Coli,:; 731.2l!

SL.Ail:

County

Last Updated: 05-04-2010 Today's Date: 5-10-2010	Volusia County Property Appraiser's Office Pro12e11Y Record Card (PRC)		Volusia County HORIOA
	Morgan B. Gilreath Jr., M.A., A.S.A., C.F.A.
	Property Appraiser
Full Parcel ID Short Parcel ID	05-15-33-01-32-0040 5305-01-32-0040	Mill Group	204 Daytona Beach
Alternate Key	3385454	Millage Rate	22.98119
Parcel Status	Active Parcel	PC Code	08
Date Created	28 DEC 1981
Owner Name			}i/i:tEC	" · .;•3;,,,::'ill .. .,,,,
Owner Name/Address 1	COFFMAN SANDRA & LEE FLORIN JTRS		C ,w ..;· ·.P•. '«'', . ..· ::,ti i!- - ;i
Owner Address 2	921 N WILD OLIVE AVE
Owner Address 3	DAYTONA BCH FL
Owner Zip Code	32118
Location Address	921 N WILD OLIVE AV DAYTONA BEACH

SALES HISTORY
#	BOOK	PAGE	DATE	INSTRUMENT	QUALIFICATION	IMPROVED?	SALE PRICE
1	6084	2205	6/2007	Warranty Deed	Qualified Sale	Yes	268,000
2	4402	4795	2/1999	Warranty Deed	Qualified Sale	Yes	135,000
3	2264	0539	5/1981	Warranty Deed	Qualified Sale	Yes	78,000

H I STORY 0 F VALU ES								zjl 1J l D e•wsR ?f :1)
YEAR	LAND	BLDG (S)	MISC	JUST	ASD	SCH ASD	NSASD	EXEMPT	TXBL	SCH TXBL	ADD'L EX	NS TXBL
2009	42,629	115,772	1,530	159,931	159,931	159,931	159,931	0	159,931	159,931	0	159,931
2008	85,258	132,116	1,530	218,904	218,904	218,904	218,904	0	218,904	218,904	0	218,904

LAND DATA
TYPE OF LAND USE	FRONTAGE	DEPTH	#OF	UNITS	UNIT TYPE	RATE	DPH	LOC	SHP	PHY	JUST VAL
IMP MUTI L/SSTRIPLEX	70.0	188.0	70.00		FRONT FEET	494.99	117	100	80	100	32,463

	I	I			J	I,	-,,.-:--,	-	-r1,

LEGAL DESCRIPTION

LOT 4 BLK 32 EAST DAYTONA MB 2 PG 106 PER OR 4402 PG 4795 PE

R OR 6084 PG 2205

-Volusia

Appraisers

Office

http://webserver.vcgov.org/cgi-bin/mainSrch3.cgi

NEIGHBORHOOD CODE j 2507	IN OF SEABREEZE PAST UNIVERSITY

TOTAL LAND CLASSIFIED		0
TOTAL LAND JUST		32,463

BUILDING CHARACTERISTICS
BUILDING 1 OF 1 I			,,, ..../·•>•				.,...•.	···.·•··•·..•···.·,,...	fiu1,i ?	J HI

Effective Age		23	Next Review	2007	Obsolescence	Functional			0%
			Year Built	1962		Locational			0%
Quality Grade		300	Architecture	M		Base Perimeter			150
Improvement Type		Triplex
RoofType		GABLE		Bedrooms		3		7FixBath	0
Roof Cover		Asphalt/ Composition Shingle		Air Conditioned		Yes		6FixBath	0
Wall Type		Plastered		Fireplaces		0		5FixBath	0
Floor Type		Hardwood		XFixture		0		4FixBath	0
Foundation		Concrete Block		Heat Method 1		Forced Ducted		3FixBath•	.3
Heat Source 1		Electric		Heat Method 2				2FixBath	0
Heat Source 2

SECTION #	AREA TYPE	EXTERIOR WALL TYPE	NUMBER OF STORIES	YEAR BUILT	ATTIC FINISH	% BSMT AREA	% BSMT FINISH	FLOOR AREA
1	Heated Living Area	CONCRETE OR CINDER BLOCK	1.0	1982	N	0.00	0.00	1248 Sq. Feet
3	Heated Living Area	CONCRETE OR CINDER BLOCK	1.0	1962	N	0.00	0.00	1420 Sq. Feet


MISCELLANEOUS IMPROVEMENTS
TYPE		NUMBER UNITS	UNIT TYPE	LIFE	YEAR IN	GRADE	LENGTH	WIDTH	DEPR.VALUE
CARPORT UNF		924	SF	45	1962	3	42	22	1,414


PLANNING AND BUILDING
PERMIT NUMBER		PERMIT DATE AMOUNT I ISSUED	DATE I DESCRIPTION COMPLETED			OCCUPANCY NBR		OCCUPANCY BLDG
NONE


TOTAL VALUES			The values shown in the Total Values section at the end of the Property Record Card are "Working Tax Roll'' values, as our valuations proceed during the year. These Working Values are subject to change until the Notice of Proposed Taxes (TRIM) are mailed in mid-August. For Official Tax Roll Values, see the History of Values section above.
The Volusia County Property Appraiser makes every effort to produce the most accurate information possible. No warranties, expressed or implied, are provided for the data herein, its use or interpretation.
Land Value			32,463		New Construction Value			0
Building Value			98,209		City Econ Dev/Historic Taxable			0
Miscellaneous			1,414		' I I-- ·		'LA\f,	;_

i "·

http://webserver.vcgov.org/cgi-bin/mainSrch3.cgi GF

,5_.0..0..12010

Total Just Value	132,086	Previous Total Just Value	159,931
School Assessed Value	132,086	Previous School Assessed	159,931
Non-School Assessed Value	132,086	Previous Non-School Assessed	159,931
Exemption Value	0	Previous Exemption Value	0
Additional Exemption Value	0	Previous Add'I Exempt Value	0
School Taxable Value	132,086	Previous Taxable	0
Non-School Taxable Value	132,086	Previous Non-School Taxable	159,931

MapIT: Your basic parcel record search including sales.

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......

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The Volusia County Property Appraiser makes every effort to produce the most accurate information possible. No warranties, expressed or implied, are provided for the data herein, its use or interpretation. The values shown in the Total Values section at the end of the Property Record Card are nworking Tax Rolln values, as our valuations proceed during the year. These Working Values are subject to change until the Notice of Proposed Taxes (TRIM) are mailed in mid-August. For Official Tax Roll Values, see the History of Values section within the property record card below.

Last Updated: 12-01- 2009 Today's Date: 12-4- 2009	Volusia County Property Appraiser's Office Property Record Card (PRC) Morgan B. Gilreath Jr.• M.A.• A.S.A.. C.F.A. · Property Appraiser		Volusia. ("',,.,•.,...,,. FLOH ..;f
Full Parcel ID Short Parcel ID	39-15-33-01-23-0060 5339-01.,-23-0060	Mill Group	204 Daytona Beach
. Alternate Key	3510453.	Millage Rate	22.98119
Parcel Status	Active Parcel	PC Code	01
Date Created	30 DEC 1981
Owner Name	MEADOWS EWOT J
Owner Name/Address 1
Owner Address 2	550 MAGNOUA AVE
Owner Address 3	DAYTONA BEACH FL
Owner Zip Code	32117
Location Address	550 MAGNOUAAV DAYTONA BEACH

LEGAL DESCRIPTION
W SO FT OF S 231.3 FT OF LOT 6 BLK 23 DAYTONA MB 2 PG 82 PER
OR 5195 PG 348 PER OR 5532 PG 1158 PER OR 5892 PG 1256 PER

SALES HISTORY
#	BOOK	PAGE	DATE	INSTRUMENT	QUALIFICATION	IMPROVED?	SALE PRICE
1	5939	3663	8/2006	Warranty Deed	Multi parcel sale	Yes	197,000
2	5892	1256	8/2005	Warranty Deed	Multi parcel sale	Yes	100
3	5532	1158	3/2005	Warranty Deed	Multi parcel sale	Yes	100

HISTORY OF VALUES

YEAR

LAND

BLDG

(S)

MISC

JUST

ASD

SCH ASD

Uolu:iia CouflDI

http://webserver.vcgov.org/cgi- inlmainSrch3.cgi

12/4/2009

2009	14,215	87,719	0	101,934	101,934	101,934	101,934	25,000	76,934	76,934	25,000
2008	23,691	87,719	0	111,410	111,410	111,410	111,410	25,000	86,410	86,410	25,000

LAND DATA
TYPE OF LAND USE	FRONTAGE	DEPTH	#OF UNITS	UNIT TYPE	RATE	DPH	LOC	SHP	PHY	JUST VAL
IMP SFR TO .SAC PAVO	so.a	231.0	50.00	FRONT FEET	225.01	126	100	100	100	14,215

NEIGHBORHOOD CODE	5120	FOOTE SUB.(5339-21)-DESPLAND

TOTAL LAND CLASSIFIED									0
TOTAL LAND JUST									14,215


BUILDING CHARACTE.RISTICS - BUILDING 1 OF 2 I
Effective Age		35	Next Review	2003	Obsolescence	Functional		0%
			Year Built	1903		Locational		0%
Quality Grade		300	Architecture			Base Perimeter		188
Improvement Type		Single Family
RoofType		GABLE		Bedrooms			5	7FixBath	0
Roof Cover		Asphalt/ Composition Shingle		Air Conditioned			No	6FixBath	0
Wall Type		Plastered		Fireplaces			0	5FixBath	0
Floor Type		Pine or Soft Wood		XFixture			0	4FixBath	0
Foundation		Wood / Concrete Piers		Heat Method 1			Convection	3FixBath	2
Heat Source 1		Electric		Heat Method 2				2FixBath	0
Heat Source 2

SECTION #	AREA TYPE	EXTERIOR WALL TYPE	NUMBER OF STORIES	YEAR BUiTl	ATTIC FINISH	% % BSMT BSMT AREA FINISH	FLOOR AREA
3	Finished Screen Porch	Non-Applicable	1.0	1903	N	0.00 0.00	49 Sq. Feet
4	Finished Open Porch	Non-Applicable	1.0	1903	N	0.00 0.00	252 Sq. Feet
5	Heated Living Area	ASBESTOS SHINGLE	1.0	1903		o.oo 0.00	1376 Sq. Feet
6	Finished Upper Story	Non-Applicable	1.0 1903

12/4/2009

http://webserver.vcgov.org/cgl-_!'inlmainSrch3.cgi


Effective Age	so	Next Review	2003	Obsolescence-	Functional	0%
		Year Built	1940		Locational	0%
Quality Grade	275	Architecture			Base Perimeter	118
Improvement Type		Single Family GABLE Bedrooms 1 7FixBath					0
RoofType
Roof Cover		Asphalt/ Composition Shingle Air Conditioned No 6FixBath					0
Wall Type		Plastered Fireplaces 0 5FixBath					0
Floor Type		Ceramic TIie XFixture 0 4FixBath					0
Foundation		Concrete Slab Heat Method 1 None 3FixBath					1
Heat Source 1		Electric Heat Method 2 2FixBath					0
Heat Source 2

SECTION #	AREA TYPE	EXTERIOR WALL TYPE	NUMBER % % OF YEAR ATTIC BSMT BSMT STORIES BUILT FINISH AREA FINISH			FLOOR AREA
7	Heated Living Area	CONCRETE BLOCK STUCCO	1.0 1940 0.00 0.00			688 Sq. Feet


MISCELLANEOUS IMPROVEMENTS TYPE I NUMBER UNITS UNIT TYPE I LIFE I YEAR IN I GRADE I LENGTH I WIDTH I DEPR. VALUE


PLANNING	AND BUILDING
PERMIT NUMBER	PERMIT AMOUNT	DATE ISSUED	DATE COMPLETED		DESCRIPTION	OCCUPANCY NBR	OCCUPANCY BLDG
NONE

TOTAL VALUES			The values shown in the Total Values section at the end of the Property Record Card are "Working Tax Roll" values, as our valuations proceed during the year. These Working Values are subject to change until the Notice of Proposed Taxes (TRIM) are mailed in mid-August. For Official Tax Roll Values, see the History of Values section above.
The Volusia County Property Appraiser makes every effort to produce the most accurate information possible. No warranties, expressed or implied, are provided for the data herein, its use or interpretation.
Land Value			14,215		New Construction Value	0
Building Value			87,719		City Econ Dev/Historic Taxable	0
Miscellaneous			0
Total Just Value			101,934		Previous Total Just Value	101,934
School Assessed Value			101,934		Previous School Assessed	101,934
Non-School Assessed Value					Previous Non-School Assessed <, ,

BUILDING 2 OF 2 I

http://webserver.vcgov.org/cg - in/mainSrch3.cgi

	101,934		101,934
Exemption Value	25,000	Previous Exemption Value	25,000
Additional Exemption Value	25,000	Previous Add'I Exempt Value	25,000
School Taxable Value	76,934	Previous Taxable	0
Non-School Taxable Value	51,934	Previous Non-School Taxable	51,934

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.Volusia

Appraisers

Office

County

, I

The Volusia County Property Appraiser makes every effort to produce the most accurate information possible. No warranties, expressed or implied, are provided for the data herein, Its use or interpretation. The values shown in the Total Values section at the end of the Property Record Card are "Working Tax Roll" values, as our valuations proceed during the year. These Working Values are subject to change until the Notice of Proposed Taxes (TRIM) are

mailed in mid-August. For Official Tax Roll Values, see the History of Values section within the property record card below.

Last Updated: 05-04-2010 Today's Date: 5-11-2010	Volusia County Property Appraiser's Office Property Record Card (PRC) Morgan B. Gilreath Jr., M.A., A.S.A., C.F.A. Property Appraiser		·! ji Volusia County FLOIUl>A
Full Parcel ID Short Parcel ID	44-15-33-02-00-0400 5344-02-00-0400	Mill Group	401 South Daytona
Alternate Key	3555201	Millage Rate	22.96100
Parcel Status	Active Parcel	PC Code	08
Date Created	30 DEC 1981
Owner Name	EJP OF JONES STREET LLC
Owner Name/Address 1 Owner Address 2	1: : i!t IM- ! 1 3004 S PENINSULA DR
Owner Address 3	DAYTONA BEACH SHORES FL
Owner Zip Code	32118
Location Address	1610 JONES ST SOUTH DAYTONA

LEGAL DESCRIPTION

LOTS 40 & 41 ORANGE BLOSSOM PARK BLAKE PER OR 2216 PG 1434

PER OR 5867 PG 2595 PER OR 5879 PG 1847

SALES HISTORY
#	BOOK	PAGE	DATE	INSTRUMENT	QUALIFICATION		IMPROVED?	SALE PRICE
1	5879	1847	7/2006	Quit Claim	Unqualified Sale	Yes		100
2	5867	2595	6/2006	Warranty Deed	Qualified Sale	Yes		335,000
3	2216	1434	11/1980	Warranty Deed	Qualified Sale	Yes		28,000

HISTO RY 0 F VA LU ES								'' ":f;•l i; l!!i)t tf ;;j,}0; tll 1
YEAR	LAND	BLDG (S)	MISC	JUST	ASD	SCH ASD	NSASD	EXEMPT	TXBL	SCH TXBL	ADD'L EX	NS TXBL
2009	45,000	204,674	519	250,193	250,193	250,193	250,193	0	250,193	250,193	0	250,193
2008	75,000	204,674	533	280,207	280,207	280,207	280,207	0	280,207	280,207	0	280,207

LAND DATA
TYPE OF LAND USE	FRONTAGE	DEPTH	#OF UNITS	UNIT TYPE	RATE	DPH	LOC	SHP	PHY	JUST VAL
IMP MUTI LISS 4-PLEX	125.0	100.0	125.00	FRONT FEET	280.00	100	100	100	100	35,000

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NEIGHBORHOOD CODE I 5076	IUnknown

TOTAL LAND CLASSIFIED		0
TOTAL LAND JUST		35,000

Sll J l2W

BUILDING CHARACTERISTICS
	BUILDING 1 OF 1	I					·••·•.••;::J·ao"''.lS(: j iiia Ji ifJ
Effective Age		20	Next Review	2006	Obsolescence	Functional			0%
			Year Built	1980		Locational			0%
Quality Grade		300	Architecture	M		Base Perimeter			196
Improvement Type			Quadruplex
Roof Type			MANSARD	Bedrooms		8		7FixBath	0
Roof Cover			Tar and Gravel	Air Conditioned		Yes		6FixBath	0
Wall Type			Plastered	Fireplaces		0		5FixBath	0
Floor Type			Carpet	Xfixture		0		4FixBath	0
Foundation			Concrete Slab	Heat Method 1		None		3FixBath	8
Heat Source 1			Electric	Heat Method 2				2FixBath	0
Heat Source 2

SECTION #	AREA TYPE	EXTERIOR WALL TYPE	NUMBER OF STORIES	YEAR BUILT	ATTIC FINISH	% BSMT AREA	% BSMT FINISH	FLOOR AREA
1	Heated Living Area	CONCRETE BLOCK STUCCO	1.0	1980	N	0.00	0.00	2145 Sq. Feet
2	Patio	Non-Applicable	1.0	1980	N	0.00	0.00	40 Sq. Feet
3	Patio	Non-Applicable	1.0	1980	N	0.00	0.00	40 Sq. Feet
4	Patio	Non-Applicable	1.0	1980	N	0.00	0.00	40 Sq. Feet
5	Patio	Non-Applicable	1.0	1980	N	0.00	0.00	40 Sq. Feet
6	Unfinished Open Porch	Non-Applicable	1.0	1980	N	0.00	0.00	40 Sq. Feet
7	Unfinished Open Porch	Non-Applicable	1.0	1980	N	0.00	0.00	40 Sq. Feet
8	Finished Upper Story	CONCRETE BLOCK STUCCO	1.0	1980	N	0.00	0.00	2145 Sq. Feet


	MISCELLANEOUS	IMPROVEMENTS
TYPE		NUMBER UNITS	UNIT TYPE	LIFE	YEAR IN	GRADE	LENGTH	WIDTH	DEPR.VALUE
SHED RES		48	SF	so	1997	3	0	0 49	3


PLANNING AND BUILDING
PERMIT NUMBER		PERMIT AMOUNT	DATE ISSUED	DATE COMPLETED	DESCRIPTION	OCCUPANCY NBR		OCCUPANCY BLDG
10884		686.00	2-12-1997	Unknown	STRU OTHER THAN BLDG			0


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TOTAL VALUES	The values shown in the Total Values section at the end of the Property Record Card are "Working Tax Roll" values, as our valuations proceed during the year. These Working Values are subject to change until the Notice of Proposed Taxes (TRIM) are mailed in mid-August. For Official Tax Roll Values, see the History of Values section above.
The Volusia County Property Appraiser makes every effort to produce the most accurate information possible. No warranties, expressed or implied, are provided for the data herein, Its use or interpretation.
Land Value	35,000	New Construction Value	0
Building Value	152,127	City Econ Dev/Historic Taxable	0
Miscellaneous	493
Total Just Value	187,620	Previous Total Just Value	250,193
School Assessed Value	187,620	Previous School Assessed	250,193
Non-School Assessed Value	187,620	Previous Non-School Assessed	250,193
Exemption Value	0	Previous Exemption Value	0
Additional Exemption Value	0	Previous Add'I Exempt Value	0
School Taxable Value	187,620	Previous Taxable	0
Non-School Taxable Value	187,620	Previous Non-School Taxable	250,193

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Last Updated: 05-04-2010 Today's Date: 5-11-2010	Volusia County Property Appraiser's Office Pro em Record Card (PRC) Morgan B. Gilreath Jr., M.A., A.S.A., C.F.A.		\ 4 - Volusia County FLOl'II0A
	Property Appraiser
Full Parcel ID Short Parcel ID	03-16-33-11-08-0021 6303-11-08-0021	Mill Group	402 Port Orange
Alternate Key	3578082	Millage Rate	22.28310
Parcel Status	Active Parcel	PC Code	08
Date Created	30 DEC 1981
Owner Name	BEACH PROPERTY INVESTMENT		''}j, - s ;it llYk ,s, ?;?;s ',. , '''''!ii'] ,,, ,.,,,,
Owner Name/Address 1 Owner Address 2	GROUP LLC			";',' .;;,,
	2724 S PENINSULA DR
Owner Address 3	DAYTONA BEACH FL
Owner Zip Code	32118
Location Address	308 WELLMAN ST PORT ORANGE

LEGAL DESCRIPTION I

W 121.8 FT OF E 270.24 FT OF LOT 2 ON S/L &. W 112.36 FT OF E

252.36 FT OF LOT 3 ON N/L S OF WELLMAN STREET BLK H WILSONS

SALES HISTORY
#	BOOK	PAGE	DATE	INSTRUMENT	QUALiFiCATION	IMPROVED?	SALE PRICE
1	6080	1100	6/2007	Warranty Deed	Qualified Sale	Yes	300,000
2	5280	0238	3/2004	Personal Rep.	Unqualified Sale	Yes	100
3	5287	0520	3/2004	Personal Rep.	Unqualified Sale	Yes	100

HISTORY								/)t./,.:, J'..' _,,,,_,,,, ,_-,//,,. _.,,,. .,,, ... ;
HISTORY		OF VALUES						,,,, ,; ,; ''
YEAR	LAND	BLDG (S)	MISC	JUST	ASD	SCH ASD	NSASD	EXEMPT	TXBL	SCH TXBL	ADD'L EX	NS TXBL
2009	68,281	137,383	3,980	209,644	209,644	209,644	209,644	0	209,644	209,644	0	209,644
2008	104,219	152,819	4,030	261,068	261,068	261,068	261,068	0	261,068	261,068	0	261,068

LAND DATA

TYPE OF LAND USE

FRONTAGE

DEPTH

# OF UNITS

UNIT TYPE

RATE

DPH

LOC

SHP

PHY

JUST VAL

IMP MUTI L/SSTRIPLEX

115.0

215.0

115.00

FRONT FEET

280.00

125

100

40,250

NEIGHBORHOOD CODE

5264

HAND TRACT P.O. (6303-10)

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The Volusia County Property Appraiser makes every effort to produce the most accurate information possible. No warranties, expressed or implied, are provided for the data herein, Its use or Interpretation. The values shown in the Total Values section at the end of the Property Record Card are "Working Tax Roll" values, as our valuations proceed during the year. These Working Values are subject to change until the Notice of Proposed Taxes (TRIM) are malled In mid-August. For Official Tax Roll Values, see the History of Values section within the property record card below.

Office

http://webserver.vcgov.org/cgi-bin/mainSrch3.cgi 5/1112610

TOTAL LAND CLASSIFIED	0
TOTAL LAND JUST	40,250

BUILDING CHARACTERISTICS

BUILDING 1 OF 2

:t.*E :ti o::iD)erl li e 1tE fi

Effective Age

Next Review

2010

Obsolescence

Functional

Year Built

1940

Locational

Quality Grade

275

Architecture

Base Perimeter

134

Improvement Type

Single Family

Roof Type

HIP

Bedrooms

7FixBath

Roof Cover

Asphalt/ Composition Shingle

Air Conditioned

Yes

6FixBath

Wall Type

Plastered

Fireplaces

5FixBath

Floor Type

Pine

or Soft Wood

XFixture

4FixBath

Foundation

Wood / Concrete Piers

Heat Method 1

Forced Ducted

3FixBath

Heat Source 1

Electric

Heat Method 2

2FixBath

Heat Source 2

SECTION

AREA TYPE

EXTERIOR WALL TYPE

NUMBER OF STORIES

YEAR BUILT

ATTIC FINISH

% BSMT AREA

% BSMT FINISH

FLOOR

AREA

Heated Living Area

SINGLE SIDING, WOOD FRAME, NO SHEATING

1.0

1940

0.00

1020 Sq.

Feet

Unfinished Carport

Non-Applicable

1.0

1940

0.00

253 Sq.

Feet

Unfinished Open Porch

Non-Applicable

1.0

1940

0.00

21 Sq.

Feet

Unfinished Enclosed Porch

Non-Applicable

1.0

1982

0.00

112 Sq.

Feet

BUILDING 2 OF 2

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Effective Age

Next Review

2010

Obsolescence

Functional

Year Built

1943

Locational

Quality Grade

275

Architecture

Base Perimeter

144

Improvement Type

Duplex

Roof Type

GABLE

Bedrooms

7FixBath

Roof Cover

Asphalt/ Composition Shingle

Air Conditioned

Yes

6FixBath

Wall Type

Plastered

Fireplaces

5FixBath

Floor Type

Carpet

XFixture

4FixBath

Foundation

Concrete Slab

Heat Method 1

Forced Ducted

3FixBath

Heat Source 1

Electric

Heat Method 2

2FixBath

Heat Source 2

SECTION I

EXTERIOR WALL I

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#	AREA TYPE	TYPE	OF STORIES	BUILT	FINISH	BSMT AREA	BSMT FINISH	AREA
5	Heated Living Area	VINYL SIDING	1.0	1943	N	0.00	0.00	1188 Sq. Feet
6	Unfinished Enclosed Porch	Non-Applicable	1.0	1943	N	0.00	0.00	260 Sq. Feet
7	Finished Carport	Non-Applicable	1.0	1943	N	0.00	0.00	264 Sq. Feet
8	Finished Open Porch	Non-Applicable	1.0	1943	N	0.00	0.00	208 Sq. Feet
9	Unfinished Utility	Non-Applicable	1.0	1943	N	0.00	0.00	96 Sq. Feet
10	Finished Upper Story	VINYL SIDING	1.0	1943	N	0.00	0.00	996 Sq. Feet


MISCELLANEOUS IMPROVEMENTS
TYPE		NUMBER UNITS	UNIT TYPE	LIFE	YEAR IN	GRADE	LENGTH	WIDTH	DEPR.VALUE
GARAGED UFN		240	SF	40	1940	3	0	0	929
GARAGE MAS UFN		336	SF	45	1960	3	0	0	1,300
SHED RES		143	SF	50	1987	4	0	0	1,301


PLANNING AND BUILDING
PERMIT NUMBER		PERMIT AMOUNT	DATE ISSUED	DATE COMPLETED	DESCRIPTION	OCCUPANCY NBR		OCCUPANCY BLDG
19961008052		0.00	10-9-1996	5-29-1998 WE	LL/PUMP/IRRIGATION			0
2307		1,350.00	10-1-1982	1-1-1983 AD	D=FCP			0


TOTAL VALUES		The values shown in the Total Values section at the end of the Property Record Card are "Working Tax Roll" values, as our valuations proceed during the year. These Working Values are subject to change until the Notice of Proposed Taxes (TRIM) are malled in mid-August. For Official Tax Roll Values, see the History of Values section above.
The Volusia County Property Appraiser makes every effort to produce the most accurate information possible. No warranties, expressed or Implied, are provided for the data herein, Its use or Interpretation.
Land Value			40,250		New Construction Value			0
Building Value			116,779		City Econ Dev/Historic Taxable			0
Miscellaneous			3,530
Total Just Value			160,559		Previous Total Just Value			209,644
School Assessed Value			160,559		Previous School Assessed			209,644
Non-School Assessed Value			160,559		Previous Non-School Assessed			209,644
Exemption Value			0		Previous Exemption Value			0
Additional Exemption Value			0		Previous Add'I Exempt Value			0
School Taxable Value			160,559		Previous Taxable			0
Non-School Taxable Value			160,559		Previous Non-School Taxable			209,644

5/11/2010

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Uoluzia Countq Volusia County Appraisers Office '

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The Volusia County Property Appraiser makes every effort to produce the most accurate information possible. No warranties, expressed or implied, are provided for the data herein, its use or interpretation. The values shown in the Total Values section at the end of the Property Record Card are "Working Tax Roll" values, as our valuations proceed during the year. These Working Values are subject to change until the Notice of Proposed Taxes (TRIM) are mailed in mid-August. For Official Tax Roll Values, see the History of Values section within the property record card below.

Last Updated: 05-04-2010

Today's Date: 5-11-2010

Volusia County Property Appraiser's Office

Property Record Card (PRC) Morgan B. Gilreath Jr., M.A.• A.S.A.. C.F.A.

Property Appraiser

Volusia County

FLORIDA

Full Parcel ID	05-15-33-01-34-0071	Mill Group	204 Daytona Beach
Short Parcel ID	5305-01-34-0071
Alternate Key	3385845	Millage Rate	22.98119
Parcel Status	Active Parcel	PC Code	08
Date Created	28 DEC 1981
Owner Name	MARSHALL CHARLOTTE PATRICIA
Owner Name/Address 1			--
Owner Address 2	615 RIVERVIEW BLVD
Owner Address 3	DAYTONA BEACH FL
Owner Zip Code	32118

Location Address 701 N GRANDVIEW AV DAYTONA BEACH

LEGAL DESCRIPTION

S 75 FT OF LOT 7 & OF E 15 FT OF LOT 8 BLK 34 EAST DAYTONAPE

R OR 4738 PG 1489 & OR 5420 PG 1263 PER OR 5955 PG 1986

SA LES HISTO RY						1It ;, 10i if6:"1114z 1 • it
#	BOOK	PAGE	DATE	INSTRUMENT	QUALIFICATION	IMPROVED?	SALE PRICE
1	5955	1986	11/2006	Warranty Deed	Qualified Sale	Yes	268,500
2	5420	1263	10/2004	Warranty Deed	Qualified Sale	Yes	300,000
3	4738	1489	8/2001	Warranty Deed	Qualified Sale	Yes	86,000

H I STORY 0 F VALU E s								\ftr:1::11£Gct t ii ;1i11
YEAR	LAND	BLDG (S)	MISC	JUST	ASD	SCH ASD	NSASD	EXEMPT	TXBL	SCH TXBL	ADD'L EX	NS TXBL
2009	42,705	113,202	0	155,907	155,907	155,907	155,907	0	155,907	155,907	0	155,907
2008	85,410	129,184	0	214,594	214,594	214,594	214,594	0	214,594	214,594	0	214,594

LAND DATA
TYPE OF LAND USE	FRONTAGE	DEPTH	#OF UNITS	UNIT	TYPE	RATE	DPH	LOC	SHP	PHY	JUST VAL
MULTI FAMILY-DUPLEX	75.0	90.0	75.00	FRONT FEET		495.01	88	100	100	100	32,522
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NEIGHBORHOOD CODE i 2507	I N OF SEABREEZE PAST UNIVERSITY

TOTAL LAND CLASSIFIED		0
TOTAL LAND JUST		32,522

BUILDING CHARACTERISTICS
BUILDING 1 OF 1 I . \ ·- '.I;9 91ishij$;Jliet ,;;t@:::1
Effective Age		10	Next Review	2007	Obsolescence	Functional			0%
			Year Built	1965		Locational			0%
Quality Grade		350	Architecture	M		Base Perimeter			200
Improvement Type		Duplex
Roof Type		FLAT	Bedrooms		2			7FixBath	0
Roof Cover		Tar and Gravel	Air Conditioned		Yes			6FixBath	0
Wall Type		Plastered	Fireplaces		0			5FixBath	0
Floor Type		Terrazzo Monolithic	XFixture		0			4FixBath	0
Foundation			Heat Method 1		Forced Ducted			3FixBath	2
Heat Source 1		Electric	Heat Method 2					2FixBath	1
Heat Source 2

SECTION #	AREA TYPE	·EXTERIOR WALL TYPE	NUMBER OF STORIES	YEAR BUILT	ATTIC FINISH	% BSMT AREA	% BSMT FINISH	FLOOR AREA
1	Heated Living Area	CONCRETE OR CINDER BLOCK	1.0	1965	N	0.00	0.00	1778 Sq. Feet
2	Finished Utility	Non-Applicable	1.0	1965	N	0.00	0.00	40 Sq. Feet
3	Finished Open Porch	Non-Applicable	1.0	1965	N	0.00	0.00	28 Sq. Feet
4	Finished Screen Porch	Non-Applicable	1.0	1965	N	0.00	0.00	408 Sq. Feet
5	Finished Utility	Non-Applicable	1.0	1965	N	0.00	0.00	84 Sq. Feet
6	Finished Open Porch	Non-Applicable	1.0	1965	N	0.00	0.00	192 Sq. Feet


MISCELLANEOUS IMPROVEMENTS
TYPE I NUMBER UNITS		UNIT TYPE I LIFE I YEAR IN I GRADE I LENGTH				WIDTH I DEPR.VALUE


PLANNING AND BUILDING
PERMIT NUMBER		PERMIT AMOUNT	DATE ISSUED	DATE COMPLETED	DESCRIPTION	OCCUPANCY NBR		OCCUPANCY BLDG
94-0710 4,		800.00	5-19-1994	Unknown	MISCELLANEOUS			1


TOTAL VALUES			The values shown in the Total Values section at the end of the Property Record Card are "Working Tax Roll" values, as our valuations proceed during the year. These Working Values are subject to change until the Notice of Proposed Taxes (TRIM) are mailed in mid-August. For Official Tax Roll Values, see the History of Values section above.
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5/11/2010

v.omsrn Lounty noperty Appra1ser'S umce Page Jot J

The Volusia County Property Appraiser makes every effort to produce the most accurate information possible. No warranties, expressed or implied, are provided for the data herein, its use or interpretation.
Land Value	32,522	New Construction Value	0
Building Value	95,774	City Econ Dev/Historic Taxable	0
Miscellaneous	0
Total Just Value	128,296	Previous Total Just Value	155,907
School Assessed Value	128,296	Previous School Assessed	155,907
Non-School Assessed Value	128,296	Previous Non-School Assessed	155,907
Exemption Value	0	Previous Exemption Value	0
Additional Exemption Value	0	Previous Add'I Exempt Value	0
School Taxable Value	128,296	Previous Taxable	0
Non-School Taxable Value	128,296	Previous Non-School Taxable	155,907

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Full Parcel ID Short Parcel ID

Alternate Key Parcel Status Date Created

Owner Name

05-15-33-08-09-0022

5305-08-09-0022

3388879

Active Parcel

28 DEC 1981

BARR RICHARD G JR

Mill Group

204 Daytona Beach

Millage Rate

PC Code

22.98119

33 N PENINSULA DR DAYTONA BEACH

Location Address

19850

Owner Zip Code

WILMINGTON DE

Owner Address 3

PO BOX 11687

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Owner Name/Address 1

Owner Address 2

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Volusia County

FL<lftlOA

Volusia County Property Appraiser's Office

Property Record Card (PRC) Morgan B. Gilreath Jr., M.A.• A.S.A.• C.F.A.

Property Appraiser

Last Updated: 05-04-2010

Today's Date: 5-10-2010

Volusia

Appraisers

Office_

v v1u.:,rn \..,,uumy rropeny Appra1ser·s urnce Page 1 of 3

•

County

proceed during the year. These Working Values are subject to change until the Notice of Proposed Taxes (TRIM) are mailed in mid-August. For Official Tax Roll Values, see the History of Values section within the property record card below.

LEGAL DESCRIPTION

W 100 FT OF S 1/2 OF E 110 FT OF LOT 2 BLK 9 MEMENTO PER OR

5283 PG 3175 & OR 5436 PG 2118 PER OR 5839 PG 3453

SALES HISTORY
#	BOOK	PAGE	DATE	INSTRUMENT	QUALIFICATION		IMPROVED?	SALE PRICE
1	5839	3453	5/2006	Warranty Deed	Qualified Sale	Yes		275,000
2	5283	3175	3/2004	Warranty Deed	Qualified Sale	Yes		165,000
3	4567	4164	7/2000	Quit Claim	Family sale	Yes		10

HISTORY OF VALUES								1fJ;tiat rt l• tm"F IIJ :tf1 ul
YEAR	LAND	BLDG (S)	MISC	JUST	ASD	SCH ASD	NSASD	EXEMPT	TXBL	SCH TXBL	ADD'L EX	NS TXBL
2009	28,060	123,571	0	151,631	151,631	151,631	151,631	0	151,631	151,631	0	151,631
2008	35,650	168,124	0	203,774	203,774	203,774	203,774	0	203,774	203,774	0	203,774

LAND DATA

TYPE OF LAND USE

FRONTAGE

DEPTH

#OF

UNITS

UNIT TYPE

RATE

DPH

LOC

SHP

PHY

VAL

IMP MUTI L/SSTRIPLEX

50.0

100.0

50.00

FRONT FEET

495.00

100

22,770

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----- 5710720 Iif

NEIGHBORHOOD CODE / 2sos	I N OF MAIN ST & s OF BUTLER

TOTAL LAND CLASSIFIED		0
TOTAL LAND JUST		22,770

BUILDING CHARACTERISTICS

BUILDING 1 OF 2

,0,!,J'f,

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Effective Age

Next Review

2007

Obsolescence

Functional

Year Built

1924

Locational

Quality Grade

300

Architecture

Base Perimeter

114

Improvement Type

Single Family

Roof Type

GABLE

Bedrooms

7FixBath

Roof Cover

Asphalt / Composition Shingle

Air Conditioned

Yes

6FixBath

Wall Type

Plastered

Fireplaces

5FixBath

Floor Type

Pine or Soft Wood

XFixture

4FixBath

Foundation

Concrete Block

Heat Method 1

Forced Ducted

3FixBath

Heat Source 1

Electric

Heat Method 2

2FixBath

Heat Source 2

SECTION

AREA TYPE

EXTERIOR WALL TYPE

NUMBER OF STORIES

YEAR

BUILT

ATTIC FINISH

% BSMT AREA

% BSMT FINISH

FLOOR

AREA

Finished Screen Porch

Non-Applicable

1.0

1924

0.00

40 Sq. Feet

Heated Living Area

ALUMINUM SIDING

1.0

1924

0.00

698 Sq.

Feet

Finished Open Porch

Non-Applicable

1.0

1924

0.00

42 Sq. Feet

BUILDING 2 OF 2

! 1 lf i

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Effective Age

Next Review

2007

Obsolescence

Functional

Year Built

1946

Locational

Quality Grade

300

Architecture

Base Perimeter

Improvement Type

Triplex

Roof Type

GABLE

Bedrooms

7FixBath

Roof Cover

Asphalt / Composition Shingle

Air Conditioned

6FixBath

Wall Type

Plastered

Fireplaces

SFixBath

Floor Type

Pine

or Soft Wood

XFixture

4FixBath

Foundation

Concrete Slab

Heat Method 1

Convection

3FixBath

Heat Source 1

Oil

Heat Method 2

2FixBath

Heat Source 2

SECTION

AREA TYPE

EXTERIOR WALL TYPE

NUMBER OF STORIES

YEAR BUILT

ATTIC FINISH

% BSMT AREA

% BSMT FINISH

FLOOR AREA

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4	Heated Living Area	TILE OR WOOD FRAME STUCCO	1.0	1946	N	0.00	0.00	508 Sq. Feet
5	Wood Deck	Non-Applicable	1.0	1982	N	0.00	0.00	92 Sq. Feet
6	Unfinished Utility	Non-Applicable	1.0	1946	N	0.00	0.00	44 Sq. Feet
7	Finished Open Porch	Non-Applicable	1.0	1982	N	0.00	0.00	138 Sq. Feet
8	Apartment	TILE OR WOOD FRAME STUCCO	1.0	1982	N	0.00	0.00	690 Sq. Feet
9	Wood Deck	Non-Applicable	1.0	1982	N	0.00	0.00	92 Sq. Feet


MISCELLANEOUS		IMPROVEMENTS
TYPE I NUMBER UNITS I		UNIT TYPE I LIFE I YEAR IN I		GRADE I LENGTH		WIDTH I DEPR.VALUE


PLANNING AND BUILDING
PERMIT NUMBER		PERMIT AMOUNT	DATE ISSUED	DATE COMPLETED	DESCRIPTION	OCCUPANCY NBR		OCCUPANCY BLDG
820824		17,339.00	10-1-1982	3-1-1983	REPAIRS			0
871837		2,200.00	12-1-1987	4-1-1988	REPAIRS EJS BY MED	()_


TOTAL VALUES			The values shown in the Total Values section at the end of the Property Record Card are "Working Tax Roll" values, as our valuations proceed during the year. These Working Values are subject to change until the Notice of Proposed Taxes (TRIM) are mailed in mid-August. For Official Tax Roll Values, see the History of Values section above.
The Volusia County Property Appraiser makes every effort to produce the most accurate information possible. No warranties, expressed or implied, are provided for the data herein, its use or interpretation.
Land Value			22,770		New Construction Value			0
Building Value			113,473		City Econ Dev/Historic Taxable			0
Miscellaneous			0
Total Just Value			136,243		Previous Total Just Value			151,631
School Assessed Value			136,243		Previous School Assessed			151,631
Non-School Assessed Value			136,243		Previous Non-School Assessed			151,631
Exemption Value			0		Previous Exemption Value			0
Additional Exemption Value			0		Previous Add'I Exempt Value			0
School Taxable Value			136,243		Previous Taxable			0
Non-School Taxable Value			136,243		Previous Non-School Taxable			151,631

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http://webserver.vcgov.org/cgi-bin/mainSrch3.cgi 5/10/2010

Docket for Case No: 11-000382PL

Issue Date	Proceedings
Jun. 13, 2011	Transmittal letter from Claudia Llado forwarding Petitioner's proposed Exhibits numbered 1-8, along with Petitioner's Supplemental Exhibit S-1, to the agency.
Jun. 09, 2011	Order Closing File. CASE CLOSED.
Jun. 08, 2011	Motion to Relinquish Jurisdiction filed.
May 06, 2011	Order Granting Continuance and Re-scheduling Hearing (hearing set for June 28, 2011; 9:00 a.m.; Sanford, FL).
May 04, 2011	Motion to Continue filed.
May 04, 2011	Letter to DOAH from J. Blakemen regarding Mr. Jones address filed.
May 03, 2011	Designation of Petitioner's Expert filed.
May 02, 2011	Index to Petitioner's Supplemental Formal hearing Exhibit (exhibits not available for viewing)
May 02, 2011	Petitioner's Notice of Filing Petitioner's Supplementaaal Exhibit.
Apr. 29, 2011	Undeliverable envelope returned from the Post Office.
Apr. 20, 2011	Order Granting Motion to Amend Administrative Complaint.
Apr. 05, 2011	Amended Administrative Complaint filed.
Apr. 05, 2011	Motion to Amend Administrative Complaint filed.
Mar. 07, 2011	Petitioner's Witness List filed.
Mar. 07, 2011	Index to Petitioner's Formal Exhibits (exhibits not available for viewing)
Mar. 03, 2011	Order Granting Continuance and Re-scheduling Hearing (hearing set for May 11, 2011; 9:00 a.m.; Sanford, FL).
Mar. 02, 2011	Index to Petitioner's Formal Hearing Exhibits filed.
Mar. 02, 2011	Petitioner's Witness List filed.
Feb. 18, 2011	Petitioner's First Motion for Continuance filed.
Feb. 11, 2011	Order of Pre-hearing Instructions.
Feb. 11, 2011	Notice of Hearing (hearing set for March 10, 2011; 9:00 a.m.; Sanford, FL).
Feb. 10, 2011	Notice of Service of Interrogatories filed.
Feb. 10, 2011	Notice of Serving Request for Production filed.
Jan. 21, 2011	Initial Order.
Jan. 21, 2011	Election of Rights filed.
Jan. 21, 2011	Administrative Complaint filed.
Jan. 21, 2011	Agency referral filed.

Source: Florida - Division of Administrative Hearings

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION, DIVISION OF REAL ESTATE vs TIMOTHY ALAN JONES, 11-000382PL (2011)

Operating Income Statement TJ 07-1013

.,1------,--.

Docket for Case No: 11-000382PL

Jennifer Leigh Blakeman

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DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION, DIVISION OF REAL ESTATE vs TIMOTHY ALAN JONES, 11-000382PL (2011)

Operating Income Statement TJ 07-1013

.,1------,--.

Docket for Case No: 11-000382PL

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Jennifer Leigh Blakeman

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