Elawyers Elawyers
Ohio| Change

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION, DIVISION OF REAL ESTATE vs GERALD ROWLEY, 11-005638PL (2011)

Court: Division of Administrative Hearings, Florida Number: 11-005638PL Visitors: 4
Petitioner: DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION, DIVISION OF REAL ESTATE
Respondent: GERALD ROWLEY
Judges: CLAUDE B. ARRINGTON
Agency: Department of Business and Professional Regulation
Locations: West Palm Beach, Florida
Filed: Nov. 02, 2011
Status: Closed
Settled and/or Dismissed prior to entry of RO/FO on Tuesday, December 27, 2011.

Latest Update: Dec. 27, 2011
StatementViewer

STATE OF FLORIDA

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION


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

'

· Petitioner,


V. Case No. 2010020012


GERALD ROWLEY,


Respondent.

                                                                 !


ADMINISTRATIVE COMPLAINT

Petitioner, Department Of Business and Professional Regulation (Petitioner) .· files th'is Administrative Complaint

\.··


before the Florida Real Estate Appraisal Board, against


Respondent, Gerald Rowley (Respondent), and alleges:


  1. 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 474, Florida Statutes.

  2. At all times material to this Complaint, Respondent was licensed as a state certified general real estate appraiser in the State of Florida, having. been issued license number 967.

  3. Respondent's aciclress of .record is 4552 Highgate Drive, Delray Beach, Florida 33445.

  4. On or about May 5, 2007, Respondent developed and communicated an appraisal report (Report) on a property commonly


    1


    Filed November 2, 2011 1:51 PM Division of Administrative Hearings

    FDBPR v. Gerald Rowley Administrative Complaint

    Case No. 201020012


    known as 10766 Versailles Boulevard, Wellington, Florida 33487 (Subject Property).

  5. Petitioner obtained a copy of the Report from the


    '

    complainant/homeowner, Oriel Tsvi (Tsvi). Tsvi, a private lender, previously complained to Petitioner about appraisal· reports prepared by Respondent on the same Subject Property with effective dates of April 23, 2005 and November 18, 2005.

  6. Tsvi obtained the Report from Respondent during legal proceedings in a civil suit brought by Tsvi against Respondent in the Palm Beach County Circuit Court. A copy of the Report as obtained from Tsvi is attached and incorporated as Administrative Complaint hibit· 1 ...

  7. The two previous appraisa reports performed by Respondent on the Subject Property were the subject of DBPR Case number 2007013479, which resulted in the entry of a Final Order, BPR-2009-07021, imposing discipline on Respondent's license. A copy of the Final Order in BPR-2009-07021, including a copy of Respondent's stipulation'and the Administrative Complaint in case number 2007013479, is attached and incorporated as Administrative Complaint Exhibit 2.

  8. Respondent failed to produce the Subject Property workfile including the MaytS, 2007 Subject Property appraisal report upon demand of Petitioner s investigator, thereby hindering Petitioner's investigation.

    G:\LEGAL\ProbableCause(FREAB)\Gerald Rowley 2010020012 AC.doc 2

    FDBPR v. Gerald Rowley Administrative Complaint

    Case No. 201020012


  9. The Report contains the following errors or omissions:


    1. Respondent listed the neighborhood one unit housing trends as having stable property values and supply and demand in balance, when the market was iri decline and there was oversupply;

    2. Respondent used the same Comparable Sale 1 as in the November 2005 appraisal report, despite the sale being from October 2005 and unacceptably dated at approximately 19 months;

    3. As in the November 2005 appraisal report, Respondent listed the condition of the Subject Property and Compar ble Sale 1 without explanation or support;

    4. Respondent's site size, construction date and gross living area for Comparable Sale 1 were incorrect as in the earlier November 2005 appraisal report;

    5. Respondent:· oinitt:ed a· pool for Comparable Sale 2;

    6. Respondent reported a non-existent May 2006 sale for Comparable Sale 3;

    7. The values reported by Respondent for gross living area varied from that reported by Palm Beach County Property apprais r records available online, routinely consulted by appraisers, and cited as a data source by Respondent;

    8. Comparable Sales 1 and 3 are waterfront properties which the Subject Property is not, and should have been adjusted accordingly;

      G: \LEGAL\ProbableCause (FREAB) \Gerald Rbwley 201·00·20012 AC. doc 3

      FDBPR v. Gerald Rowley Case No. 201020012

      Administrative Complaint


    9. As in the November 2005 appraisal report,


      ,Respondent value the Subject Property site value at

      ,.

      $1,150,000 without support or explanation.. The November 2005 site valuation was itself a significant upward valuation from the $$575,000 reported in April 2005;

    10. Respondent used the same $175 per square foot reproduction cost for the Subject Property dwelling in the Cost Approach section of the Repm,t as in the November 2005 appraisal report despite changing market and construction conditions;

    11. Respondent failed'to adequately reconcile the data within the Sales Comparison and Cost Approaches, and between the two;

      1. Respondent falsely certified that he had complied with the current Uniform Standards·of Professional Appraisal Practice (USPAP) as of the effective date of the Report;

        m) Respondent signed.the Report using an incorrect designation.

        COUNT ONE


  10. Petitioner realleges and incorporates by reference the allegations set forth in paragraphs one (1) through (9) as though fully set forth herein.

    G:\LEGAL\ProbableCause(FREAB)\Gerald Rowley 2010020012 AC.doc 4

    FDBPR v. Gerald Rowley Administrative Complaint

    Case No. 201020012


  11. Section 475.626(1) ( f) , Florida Statutes (2010) provides as follows:

    No person shall obstruct or hinder in any manner the enforcement of this sec ion or the performance of any lawful duty by any person acting under the authority of this section, or interfere· with, intimidate, or offer any b,.ribe to any member of the board or any of its employees to

    • any person who is, or is expected to be, a witness in any

    :investigation or proceeding relating to a violation of this section.


  12. Based on the foregoing, Respondent violated and has continued to violate Section 475.626(1) (f), Florida Statutes (2010) by failing to produce documentation from the Subject

    Property workfile.

    ·I


    COUNT TWO


  13. Petitioner realleges and incorporates by reference the allegations set forth in paragraphs one (1) through (9) as though fully set forth herein.

  14. Respondent's professional conduct in developing and communicating appraisal reports was governed by the Uniform Standards of Professional Appraisal Practice (USPAP) applicable at the time of the appraisal report, in this case the January 1, 2008.USPAP.

  15. The Conduct Section. of, the USPAP Ethics Rule

I


provides in part as follows:


An appraiser must perform assignments ethically and competently, in accordance with USPAP and any supplemental standards agreed to by the appraiser in ·accepting the assignment. An

G:\LEGAL\ProbableCause(FREAB)\Gerald Rowley 2010020012 AC.doc 5

FDBPR v. Gerald Rowley Administrative Complaint

Case No. 201020012


Appraiser must not engage in criminal conduct. An appraiser must perform · assignments with impartiality, objectivity, and independence, and without accommodation of personal interests.


An appraiser must not communicate assignment results in a mis_lea ing - or fraudulent manner. An appraiser must not use or communicate a misleading or fraudulent report or knowingly permit an employee or other person to communicate a misleading or fraudulent report.


, 16. The Record Keeping Section of the USPAP Ethics Rule provides as follows:

An appraiser must prepare a workfile for each appraisal, appraisal review, or appraisal consulting assignment. The workfile must include:


  • The name of the client and the identity, by name or type,' of any other intended users;

  • True copies of any written reports, documented_: on any tY}?e of media;

  • Summaries o..f, any . oral reports or testimony, or a transbript.·of•·_ testimony, including the appraiser's signed nd dated certifications; and

  • All other data, in_formation, and documentation necessary to support the appraiser's opinions and conclusions and to show compliance with this Rule and all other applicable Standards, or references to the location(s) of such other documentation.


An appraiser must retain the workfile for a period of at least five (5) years after preparation or at least two (2) years after final disposition of any judicial proceeding in which the appraiser provided testimony related to the assignment, whichever period expires last.


An appraiser must have custody of his or her workfile, or mak_e approp'riate workf ile retention access, and ret iev l r ng ments with the party having custody of the workfile.

G:\LEGAL\ProbableCause(FREAB)\Gerald Rowley 2010020012 AC.doc 6

FDBPR v. Gerald Rowley Administrative.Complaint

Case No. 201020012


  1. USPAP Standards Rule 1-1 provides as follows:


    In developing a real property appraisal, an appraiser must:


    1. be aware of, understand, and employ those recognized methods and that are necessary to produce a appraisal;

      correctly techniques credible


    2. not commit·· a substantial. error of omission

      i'.1

      or commission ..:that · significantly affects an appraisal;


    3. not render appraisal services in a careless or negligent manner, such as by making a series of errors that, although individually might not significantly affect the results of an appraisal, in the aggregate affects the credibility of those results.


1 1 8 . USPAP Standards Rule 1-4 provides, in part, as follows:


In developing a real appraiser must collect, information necessary results.

property appraisal, an verify, and analyze all for credible assignment


  1. When a sales comparison approach is necessary for ;, credi,ble C: assignment results, an

    appraiser must . 8aly su h comparable sales data as are va labl to indicate a value conclusion.


  2. When a ·cost approach is necessary for credible assignment results, an appraiser must:


  1. develop an opinion of site value by an appropriate appraisal method or technique;


  2. analyze such comparable cost available to estimate the cost improvements (if any); and

    data as

    new of

    are the


  3. analyze such comparable data as are available to estimate the difference between the

G:\LEGAL\ProbableCause(FREAB)\Gerald Rowley 2010020012'AC:doc 7

FDBPR v. Gerald Rowley Admini trative Complaint

Case No. 201020012

cost new and the present worth improvements· (accrued depreciation) .

of the


il9. USPAP Standards Rule 1-6 provides as follpws:


In developing a real property appraisal, an a ppraiser must:

1


  1. reconcile the .quality and quantity of data available and analyzed within the approaches used; and


  2. reconcile

·of the approaches

, conclusion(s).

the applicability used to arrive

or suitability at the value


;20. USPAP Standards Rule 2-1 provides as follows:


Each written !O oral real property appraisal report must:


  1. clearly and appraisal in a misleading;

    accurately set forth the manner that will not be


  2. contain sufficient information to enable the intended users of the appraisal to understand the report properly; and


  3. clearly and accurately disclose all assumptions, extraordinary assumptions, hypothetical conditions, and limiting conditions used in the assignment.


  1. USPAP Standards Rule 2-2(b) provides, in part, as


    .follows:


    The content of a/ Summary Appraisal Report must be 'consistent with the intended se of the appraisal and,

    :at a minimum:


    (viii) summarize the information analyzed, the appraisal methods and' techniques employed, and the reasoning that supports the analyses, opinions, and conclusions; exclusion of the sales comparison approach, cost approach, or income approach must be explained;

    G: \LEGAL\ProbableCause (FREAB) \Gerald Rowley 20_10020012 AC.doc 8

    FDBPR v. Gerald Rowley Administrative Complaint

    Case No. 201020012

  2. Respondent failed to comply I with the above USPAP Standards.

  3. Based on the foregoing,· Respondent violated Section 475.624(2), Florida Statutes (2007), by. being guilty of fraud, misrepresentation, concealment, false promises, false pretenses, dishonest conduct, culpable negligence or breach of trust in a business transaction; or has violated a duty imposed upon him by the terms of a contract, whether written, oral, express or implied, in an appraisal assignment, by certifying he complied with the above USPAP Standards when he did not.

    COUNT THREE


  4. Petitioner reall ges'and incorporates by reference the allegations set forth in paragraphs one (1) through (9) as if fully stated herein.

  5. Petitioner further realleges and incorporates by reference the allegations set forth' in paragraphs (10) through

    (22) as if fully stated herein.


  6. Section 475.624(15), Florida Statutes (2007), states the following shall constitute grounds for disciplinary action: [Respondent] "(has failed or refused to exercise reasonable diligence in developing an appraisal or preparing an appraisal report."


    G:\LEGAL\ProbableCause(FREAB)\Gerald Rowley 2010020012 AC.doc 9

    FDBPR v. Gerald Rowley Administrative Complaint

    Case No. 2010200 I 2


  7. Based on the foregoing, Respondent failed to practice appraisal practice with that level .of care, and skill which is recognized by a reasonably prudent appraiser as being acceptable under similar conditions and circumstances, violating the above USPAP Standards Rules.

    COUNT FOUR


  8. Petitioner realleges and incorporates by reference the allegations set forth in paragraphs one (1) through (9) as if fully stated herein.

·29. Section 475.629, Florida Statutes (2007) provides as follows:

An appraiser registered, licensed, or certified under this

part shall retain for at least 5 years, original or true copies of any contracts engaging the appraiser's services, appraisal report, and supporting data assembled and formulated by the appraiser in preparing appraisal reports.

of

·The period for retention of the records applicable to each engagement of the services· of the appraiser runs from the date of submission the appraisal report to the client. These records must be made available by the appraiser for inspection and copying by the department on reasonable notice to the appraiser. If an appraisal has been the subject of or has served as evidence for litigation, reports and records must be retained for at least 2 years after the trial.


3 O. Based on the foregoing, Respondent violated Section 475.629, Florida Statutes (2007) by failing to maintain documentation in the workfile to support the value conclusions as set for in the statute, and documentation to support the

G:\LEGAL\ProbableCause(FREAB)\Gerald Row;J.ey 2010020012 AC.doc 10

FDBPR v. Gerald Rowley Administrative Complaint

Case No. 20I020012


adjustments made to the Comparable Sales, or to produce such records upon demand of Petitioner's investigator.

COUNT FIVE


31. Petitioner realleges and incorporates by reference the allegations set forth in paragraphs one (1) through (9) as if fully set forth herein.

32. Section 475.622(1)-(2), Fla. Stat.(2007), and Rule 61Jl-7.001(2), Florida Administrative Code, subject a real estate licensee to discipiine for iailing to display and disclose an appropriate designation adjacent to or immediately above the license number.

  1. As set forth above, Respondent failed to list a correct designation next to or above his license number.

  2. Based on the foregoing, Respondent violated Section 475.622(1)-(2), Fla. Stat., and Rule 61Jl-7.001(2), Florida Administrative Code, wheh he completed the instant assignment without displaying his correct license designation next to or above his license number.


G:\LEGAL\ProbableCause(FREAB)\Gerald Rowley 2010020012 AC.doc 11

FDBPR v. Gerald Rowley Administrative Complaint

Case No. 20I020012

·,

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

---------/ 2010.


CHARLIE LIEM, Secretary Department of Business and

P ofessional Regulation


By:                                      

Donna Christine Lindamood Senior Attorney

Florida Bar No. 0273694 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



-

PCP Date: 11/5/2010

PCP Members: Rogers/Small


G:\LEGA \ProbableCause(FREAB)\Gerald Rowley 2010020012 AC.doc 12

FDBPR v. Gerald Rowley Administrative Complaint

Case No. 201020012


NOTICE TO RESPONDENT(S)


PLEASE BE ADVISED that mediation under Section 120.573 of the. Florida Statutes is not available for administrative dispG.tes 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 have subpoena and subpoena duces tecum issued on your behalf if a formal hearing is requested.


PLEASE BE FURTHER ADVISED that if you do not file an Election of Rights form or some other responsive pleading with the Petitioner within twenty-one (21) days of receipt of this Administrative Complaint, the Petitioner will file with the Florida Real Estate Commission a motion requesting an informal hearing and entry of an appropriate Fi a Order which may result in the suspension or revocation of your real estate license or registration. Please see the enclosed Explanation of Rights and Electibn of Rights form.


G:\LEGAL\ProbableCause(FREAB)\Gerald Rowley 2010020012 AC.doc. 13

1•11 ii , IL.. '-VI V\l I . I IV,. '-..V

\I r1/\J VV I V'-ICJ UCJC:.0 r. ".A.JV/ I I \'..I




APPRAISAL REPORT

of


Slnglo Family Re:;ldonce at 10766 VERSAILLES BLVD. WELLINGTON, FL


As Of:

MARCH 5, 2007




Antonio $, As:;oclalee Financial Servlco:1 6625 Miami Lake:. Dr.

Ml ml Lake . FL 33014


Prepared Sy:


SERVICE APPRAISALS

Gerald Rowley 4552 Hlghgala Or.

Oclray ee:ich, FL :.l 5


ADMlNlSTRATrvt.· )l\/!,PLAl.i"{1

EXH!BIT #      :.l_-1--1-----

PAGE·    ;                                


EXHIBIT_      .,.....j,..:PAGEd-3


Re :eived Time Mar: 12. 4:31PM

[2]


AD,lvilNISTR.ATIVE COMPLA\.Nt EXHIBIT #_·4-_,;,_------

PAGE ·'2-- OF

E;HIB\T l( - ..-.,P-.AG-.Fd.--,.-v----

Kick i<,eete


SERVICf: APPRAISALS


1 orm Resldent1'aI A.oora saIReport


FIia No. RF-OJ_O:'r-07

C3ao No.

I TI10 ournaaa aJ !hi$ ummafY aocrnle.,I rr,wrt Is la omv!de. '"" leMorlcllenl with an ac.r.11r lo ind adeauo1,.1r '-" Dortod oolnlon al IM m ikcl value of the iub/er.l roncrtv. ProoAllV M ,es 107B6 VERSAILLES !lLVO. Cltv WELLINGTON Slate FL c1D Code 33487

Barm,..,..t LENZER BURTON Ct.uner ol Public Recan:! LENZER OlJRTON CDunty F'ALM OE:ACH

Lella! 06'Scriptlan LOT :?M. VERSAILLES PUD

A.!: e-,a;r Paru,I tt 7J-.l1-44-24-05-000,2Ma ASSO.$667 273 T;it Year 2aa5 RE. Taras$ 15 067.23

..

-r 1'81ontlirno,:,rt Numa VEI< SA.ILLES PUD Map R!lr,renCll 44-41-24 Cen 11$ T cl B:?.030

r,

.!! Cccupan( I X I 01111ar I Tenant I Vx;,m Sp,icial Asses m-.01 S NIA IXI PIJD HOA$ :3158,00 I lpe,yAerl X lnermanlh Froosnv RJoh\s /\ppro/se:J IX I Fae. Slmolo I 1Laa!llhnli1 I Olhar(da-..oih<,)

-A;o/9nmenl Type Pun:h • Trnn,acilon IX I ReflnanC8 Traneacilon I I Olher (de:icnb.l)

Londor!C!!P.nl AriIonia&. A8-90Clale!S /nonr,/ I SeNIC.o!S Addiw.s G 25 Miami Lok • Dr. Miami Lok • FL 33014

1, th ,uol I or:iool1'/ currantlv oflercd faraelo oi h:t-1 I\ t<Jon offered r r!.'.!loin lho twelve monl nrtor lo Ille aHocllve d,11e or lhia iJPprafaal7 I r Y, IX I /lo RQr.011 daia ou11:o -11 used. otielin;Jt. p co/si ana d lo·,.).


I LJdid LJ did no\ analyze Ille cnnltJctfor:..la tOf IM cubl l pun:llasa 11an:.:cllon, E.lplaln Iha UII.: ol lho analyala or 1no convacl f'Jrsala arwny ;n analpl:; wa:; no\

ncriotrned. ril."-. '

T

i-;:. Ccntr.Jcl PtiCJJ ! REFINANCE Data of CMlr..c\ NIA I lho orooonv teller the. o,.,,o, ol public rocoro? I Y•• I I No Dela Sou,ca(sl Publl,; R1Jr;ortla le !here Jny OnancW :u:l,;i nw Qan chary , :.ala cmceaslon:, am or downpaymenr .: slilnca, ale.) ID be l)Jia by any paf1Y on behalf er Iha l:orrot11er'? LJYc:LJNo It Ye . n,oon Iha iota! d:Jl:r amount and dP.t.crtt,,, Iha Iiams to be e,ild. NIA


..it:

r.. Hora: Ric• •nd U\o racl•I comHoalUon or lh• nelnhbor!IOod or• nor aoor,ful 1,ctora. . · _-

-n

 Hc!ilnliJil!iiJAii.Climn      rwtl~'='      I,.,.,., . , ,:':9nJ8JolCIJAii iaincl i 1tl'hlYINll'ii!l C!iiclliilllJwt&ln Jd riiiii1iCi,irt.ti,R1).. 1i

,,

Lo.-:,11/on UrtJ.n - [xl Suhuro nl l<ur I Propaf!Y Value, f 7!ncrouln,, X Slailla DnrJlnlno PP.IC:f: ·• AGE Onr.,Unll· 95 ',,k..


:.:

!lUl/1.ur IX IO-.r7511 I 21r75ll / Under 2:il', O.,m;io /Supply I I Shonacre I X I In O;u nca 0"'8VDo'r

Growtll I ffl.apld XI Slebla I Slow M"11<-,11nq Time I I UMcr) m s IX IJ-K mlh3 Ov11ftmtni

- 1000\ lvr.;l

475 Lo111 2

2--l Unit I)

Mul11Famlly "

NelQntr.mCO<! Sound• FOREST HI\.\. BLVD. /NORTH) JOG ROAD fEASTI HYPOLUXO RO.

3MM Hloll J!! Commeiual 5 ·


(SOUTH\ & 110 AW. (WESTI.

.SMM Pred: 20 Olhor ..A

        lfol0Wirt1ood 0.,- lollon AVG-GOOD PROXIMITY TO SHOPPING SERVICES t.. A REGIONAL MALL THE WELLING TO(..! GREEN MAl.:L          

,=. LOCATED WITHIN THE NEIGHBORHOOD· THE WELLINGTON MEDICAi. Ctr. IS LOCATED JUST NORTH OF F"OREGT HIL\. BLVD.• 1-95 IS  

!!. LOCATED 1:s Mil.ES EAST· RF.SIDEt Cic.S HAVE 13000 TO EXCELLENT APPEAL TO THF. MARKET.

f.ler1<e1 c,,nal!lilns lnciualnn unoot1 tor lhe ;ib<,va conclu lono VAi 11 '1 HAVG Af'MAINFD RC:LATIWI Y TABLG OUP T!l nFMAND t=OR HOI.J ING. DISCOUNT4 OVYDOWNS e,"coHCFfl"IONS AAF HOT PrlEVALl'NT AND H4VF. UTTLE IMPACT ON VAi l)f TYP. FINANC-:INr. I CAGf-1 µHA CONVOmo1iAl fll< NCING. I MARK!oTIHr"l TIME' t=OR f.<lMPETITIVG PR!lPBf1Tf[;!; HAil RFFN AVl:RAt"IINl"1 TO 6 Mt"lNTHR

"'""·"

,

Olnie.,c.lon, IRREGUL.".R ISUBJECT TO SURVEYl 12 832 SF Sh3c:,, IRREGULAR View i.Af<E/Rt=C:10.

SMclllc lorilnn r,1;,:;31flcellan PUD ZonlnA O.or.rlpli n PLANNF.O IJtllT DEVl,LOPMENT Zonln:J aimollanc,, :<; LMal I I Legal flcncon/0TTJ1ino IGrana1.1(i1on:d Usal I !No Zonln1 I llllr.<1 1 doscrlrel

r, rne. n1.,no,1 and o,,st u,a·ol eubiec.1 vrooort/ a, lmpro"IJd for u p,nr,o !Jd l)0f of ens nd r.oodnc.artanol the Vl1l3'lnl uea? X IYos I I Na II lio dcsa1oo.

-

I Sireel

ASPHALT

IX)

I I

I ilJl"-'I

NONE

I I

l i

Utllillae Punn-, Other (d•<Clibol Public 01n,r ldaecnbol I · 0/f,,he lmo10vcmant•-Tvpe Public Pr Iva lo Elr.ctncllY IX I F.P.l, Walar IX/ I I ClrY

LL.

i

0

I

c.,c, I I X BO'rrLE Sanllar1 SP,JJ,.r IXI I I

FEMA Gn,,r.lal Ftr.:-,.1 elozortl M•• I IYe, X I I""> r-c:w, loon ono 13 eEMA IAoO ff , 0102 0170A Ff::f,V\ Map DJlo 02/01/187.0

Ara Iha 11111/iiee and/or nff-a!\a lmprounmonls tvole:il forlhe me!kal Jtr. 7 IX I Ye, I No II No dec.albe.

Ala rneroany aduP.r.:n ollo oondl!lono or oxlamal t.c,tor.; faaeem,nr cncrnachm,.nl onulronm..n(,11 oondlilans inM usoo elc.)7 I !Yee IX I No· l['(a, de!c11b .

NO UNUSUAl OR UNFAVORAE!LG ADVERSE riA3EMENiS. F;NCROACHMF.NTS OR CONDITIONS WF.RE OB!'.:C:RVl=:0. EASGMF-NTS ARE THOSG OF PUBLIC RECORD TYPICAL or- UTILITlE:S. NO SURVEY PROVIDED APPRAISER.


il1f.11 Gcniii'iillDoel:Htilfoal!fmi<iQ'11' i'l'rill'/mir,lll'ollnna1lci\11JJul'l\lf-t/, i· orioi'l\ailcniiilonf;,:.f!Clmsll!riel'!,/i:onl1H1on 1ltr,t,irlor:\'ffi'i'4:I;! :,mal or£ ,t,;J condlllon, Unite I X Iona I I Ono wlm Accr::"Nlll'I Uni! X I Concrala I I !Crawl SllJCB Founda1lon Wclll Rdnf.Cnc. Floor, Mort,lnrw,ucorol./Gfl. a or Siona a iWO I I F1JII Baeem,nl I IP,nl,J B•""""n( E.m,10, Walls C.81k.6JUCCO .\'i llo DRyWALUGOOO Tvpe I X I 0<i1l IA\I. . \ 5-DeUcM Unll Basem,ml Arna -11. f;c,o( S!Jrl,,c,, Cone, ill Tnrntr-lni:h WOODIGOCO

IX 18lsllno I ) Prnoo 11f IVndar!An;(, 8aS11m n1 Fini:;)] 'i. G nera & 00......,DOUli SIDES alh f'loor MARBL!::JGOOD D,d1n !St11el 61Y. I /Out!ilda e-nl:yfExltl ISllmo Pumo WlndowTyr,., SIN. HUNG Ralh Walnu:ol MARl3LF.fGOOD Yeor flullt QOJ Evldonca of I lnloatallan NOi !: Storm eashllncutnla NIA c.,r S1oraA• I I HanA

En..,11v-. Ane Nrcl EFF. 1 I Damonaee - I S.tn•menl !)r. r.ri; Scr00no/GO I IDrtvaw:iv otCara· :i

Anlc· Hone H.. 11,a I X leWA hNlllfl I lnwionl Mlr.,lli.. Wac<lo\ovo(3) # l)rjvowav Surr:ice PAVERS I X I Dn,n Blair · Stain: )Olnor IFuol ELECT. )l'lr,placel,t Fence NONE XI G.sraQo UofC.ir.; :l

I I F oi t ,.

X Scunl

CMlln I )( I C'-nlr;il Alr Condlltonln

X /Poto.Vi:a A.EAr. X Porch REAR

l I Camon Uof Car.r

:::: I I Fln!,hed

HP.:tlQ

I I lndlvl 11oil I Other

I !Pool

X CthM CVRD.

\ X \All. I IDet. I I Sullt•lr.

n Appl\anr,B3 IX \'.Rl';tnGQra\or\ X \ ll;Jnoa/0.,en f X \Dlahw3shr.r\ X \Olc o,.,1 IX \ Ml::ro111 vcl X 1Wsat1,J/Orter

=ii r\nl:n1.1 ;iraa aboVf/ nra:le mnlalns; 1 O Room 5 Bl!!lreq111, 6.50 8ulh(i\ 5 707

•';' Addlilonol fn lllr'<l! speciot snamv emd,nt !1ame eh;.) tWNE SPECIAL.

!Dlhor daGCrtb,,I

&!uara Fet'cl olGnm Uvlnn Arua Abo,?. C,r:(101

Yl-ll IT \...\

l

  ·.:                                                                                                                                                                                                                                                                         

.. 111.lr"llll n "'""'",..,.., .... r, • ..

S: D, cnt,., rh• r.nnditlon or lhn "rooofl'I (lnr.h•dln nee<led rooalrs dol,rlo,;il!on ranovallon3 r,11\Gdr.llnn e/0.1. IJO FUNCTIONAL I NA fQ: UAC IGC W"'"" ii NOTED UPON INSPl=CTION Of' PROPERTY NOi'\ AN'( EXTFRNAI 1"' Ar,c, · " '. ~•-- ..--.. -

1


s .,, ·ciii,,, Iha mndillan al mr. nropertv flnr.l11olnn nE"'lr.rt.rooalra delr.nor;iilon re.novallonJ rerncddlnn el .L fJO f!UNCTIONAL INADEQUACIGS WERE                  

NOTED Ul"ON INSPECTION OF PROPERTY NOR ANY EXTERNAL INADEQUACIES OBSERVED Ul'ON EXAMINATION OF SITE WHICH WOULD ADVEflSf:L'f AFFGCT THE MARKETA[!!Ll1Y OF THE SUBJECT, SUBJECT IS EXCt<l. ENT QUAl.rTY CONSTRUCTION I', IS CONSIDCaRED TO RF. IN EXCEI.LEt•T CONDITION. THE SWIMMINO l'OOL AT THE REAR OF THE RE'.SIDEhJCE 18 UNDER

CONSTRUCTION.

Aia !hare anv phy•lcsl Mr.ndancl"" or advania c:or,nll\ona IMI alfcct Iha llvaDlllt-1. :;ounan..-:!., or struc1urnl lnlMrtlY or 11\r. orooorl'/7 f "\Y<J:JIXINo IIY ct,:r,r,ribB

I'

.

  • 1110 ofO"'""' non rnllv c:,nform lo·,h nr.ichbortlood lfnnr.llonal ullllly ,tile c:ondlllon use con,1ructlan elo.17 1 x I 'fe,; I. I lso II Ho doscrlb• ·

i

Freddi<J Mac Fonn 70 !.larcn 2005

Fannie Mac Form 10C4 Man:h 2005

1


1


1


1


. Cll kFORMS Appralaal Software BOO-C22-B7:l7

Pnoa 1 of 11! 1

1

1

1

Received Time Mar. 12. 4:31PM 1

1

1

1

1

1

1

1

1

1


1


1

.• >· :- 1


1



AOMfN\STRATI\JE

1

CONlPU\\NT 1

EXHIBIT #·-L----- 1

EXH\BiT 1

Kick lJ Keete


SERVICE: APPRAISALS


" Uniform Residential Apora sal Report


FIie No.- RF-OJO$-Di

Caae No

Tt11!1F.·,1ri, 7 ci,mpar.ibl Orooortl,r.i CUITl!!ll!V onm,d lor le In Iha ,uhll'CI n,l ht>?rlmod ran lno In p/1 1/001 $ 735 000 {GS 3.5MM

        Tr.,,,,. ro   8 cx,m .1r:ihlo :;ala3 In Jhe auh '-"I nclryhbortmod "'llhln Ille. M,I t-l'clvo monlha ranqln,{1 1 10 ortco from s 675 000 lo s -1 MM

', ;:i;,_ TURE .SUBJECT COIJPARABLE SAlE tt I COl,lPARA0lE SALE# 2 COMPARABLE SALE .1

A,Jdrm 10766 ' !!RSr .lLLES B VD, 3597 Roye/!,:, Terrac.8 · 10?14 Veraalllea 61Vd, 3809 Royo/lo Tarr.

·r iN£LL/ JGTON L. WELLINGTO J FL \NELUNGTON FL - 'ELLING.TON. l

Pm:xlmlrv ia 3UbIa:I : Jbliiil!1Lftill:!'il/Zli"i!i 0.21 miles 0.09 mllee o.nm l l 3

snio Pni:a S REFll ANCE ,iiW ai tilliil.1.iil!Jj) ! 2 400 ODO Ui;Jfl!',%1-.•l fllliiiittlitnl$ 2 000 00D [1li,i)'J:,'ll ::l. f{/l'!'";n S 2 2113 DUO SJlePncii/Grn sllV.Aroa 5 0.00 sq.n. S 420.48 sn.n.1!1ffiWllfill,\l;l'/ $ 336.08 ao.tr.1!',llf1fill\'il'IM'. <i S :rno.oo  tl.11.fil',il;J,f,:f,,,,,!WI', 0ai;i oouwfa\ illl /Wit,i/!i/l'l'."1 1il! SALES OFFICE

v-, ftc.ai/0,1 301111:,(r./

- .\®!ilto'El\/:'i i!:!ldll !SC/PUBLIC RECORDS

ISC/PU13LIC RECORDS!MLS

IGCIPU8LIC RECORDSIMLS

VlllUEADJUSTl.i NTS

Sa!Eior/!fhMc!na

DE CRIPTiON O SCR(PTlON

. , CONVENTIONAL

(-) Ad/11e.ln\cnl

DE5CRWT10N

CONVEtmONAL

  1. ,-{-J S Ad/ua1me.n\

    DESCRIPTIOU ../,l $ M/llslmenl

    CASH I

    Ccnce1'!16n,

    ;m1f•.. ,., ,1'.\11':i!, MTG. aoo ooo

    MTG S400 00D

    MAY 2006

    TO Si:LLl;R j

    MAY 2000

    Lccailo l',, I EXCURESIQ. Laa1aho101r--,e Glmpla FEE SIMPLE Sll& '1! 12 632 SF

    1/,ffi,i: LAKE/RESID

    Do,lqn (St)1el 2 STY,/EXCL

    C1'} Qusil!Y of Oin-,/rucllon GBS/EXCL

    3 Y'l<lrB

    EXCURESID. FEE SIMPLE 14 47::J SF

    1.AKE/RESID.

    2 STt./EXCL CBSIEXCL. 2YRS.


    -11 04E


    N/1'

    EXCURESID. FEE SIMPLE 11 325 SF TYP.IRE.SID.

    2 STY,/EXCL.

    C8.S/EXCL.

    1. YRS.


      ·'-160C

      --40 ooc


      NIA

      !:XCURESID. FEE SIMPI.E 11 32B S/0 LAKEIRESID. 2 STY/EXCi!L.

      CBSIEXCL. I

    2. YRS.


    +7 BOC

    WI'


    N//l

    Ccndlllon

    EXCELLENT

    EXCELLENT

    EXCGi.LENT

    NI EXCELLENi Wf.

    AfJove Gr.lde

    Tola/ I Ba/Tl\c.l B;i!/lc,

    Tollll !rlllrrM I f;a!/1s

    Tole/ /Bdmd ,"'"1,, 111-,1-----' t--=To.le/ -!Bdrm;=sJ -B-a-lhe-+ '-"--1

    Room (P,unl

    c,a e t.klno .Arna

    , Bau,m1nl & Flnbhad

    Rooma B"law Grndo

    :;,- i'uncnonal Ulilllr

    Hn;,Ilno/Coollno


    Goroor./CmMrT

    =;= Porch/?ano1Occx

    !J. EOUIP1'.1f:NT

    ,aI 5 I 0.50

    5707 M,fl

    NIA

    NIA AV6RAGE CGNTRALNC

    NON!:: SPECIAL

    3 CAl't GARAGE

    R. PATIOIR f>ORCH

    UPGRADES

    10 I 5· I e.so

    5 708 q. fl,


    AVERAGE CENTRALA/C NONE SPECIAL

    :i CAR GARAGE

    R.P Uo/Pn:h

    SUP.UPGRADES

    C


    0 80 ooc

    9 I 5 I ·i.:30

    s goo so. tt.

    NIA

    NIA

    AVERAGE CENTRAL NC NONE SPECIAL

    :l CAR GARAGE

    R.P,tlo/Porct,

    INF.UPGRADES

    •1A one

    .g soc


    •80 DOC

    g I s I .i.5o

    5 882 ,n. n.

    NIA

    N/A AVERAGE CF.NTRALNC

    NONI'; GPECIAL

    • CAR GARAGE R.P8Iio/Porch UPORADGS

      T1,\ DOC


      -6.DDC

      POOl

      Under Constr.

      POOl

      0 16 00(

      NONE; I NIA

      POOl

      -1soor

      Na1MIU,trnan1.rra1aI1     .. , ,., i 1x1- t -1oaoae IXl•I 1. s

      i,:- N!/IJ:lea &lie Plice rkt Adj: -4% Nol Adj: 7%

      1n2ao XI •I I•

      Net Ad/: 0%


      800

      !

      ;j ot G1n1n,..;blae , Gros. Adi:  "/2 $ 2 2Q'.l 854 G"> S Adi: 5% $

      / I x I old II I did not r.,,;e;,n;h Iha sale or lr;in,lor hlstcr( cf 11/r, ob/qct p,opert( and comoarabla !::lies,. If nol a,o(3In

      2132 200. Gro•• Actl:

      i 2 21 eaa


      t


      '.'l


      ,


      I

      l.iy rosaarcn I Idid I x dlO nol roveal anv Mor 5<Jlas ar1r.n ri,r.; of Iha suhla.cl muoaJtV for lhn ln!1le yll!l,i, prior In Iii• •ffec\lv& dalo ot lhl, •pgral,al.

      Dais ,ou,ca(o\ PUOLIC: RECORDS/1"1L8/JSC

      Mv re,aarcn\l jrjJd Ix did nol m¥1!al an( Mor :;aloo or transfer,; of Iha cornoor.,blo s.ilas lorlnr, Yr.er crtor la 10. cl;i\ .of s,ila or In, comoarabla aole. Dalo '-Durca(s/ PUBLIC Ri;CORDS/Ml.SIISC

      Repcn IM ro',uili':cl 111-, r,;s.,an:n •nct ;in.ilr,ls o( ma p1lor :xilo or trsn t-.r hl:;lr/ of Iha :11hlec! aropan-t anti corn •arablB •Ir::; (rtoon addlllan J ocior :;ala, on p,,Qe 3).

      iTEI.L. SUB.JoCT COMPARABLG SALE# i coilf/\F.AIJLF, SALEJI 2 COMPAM0U:.$ALE 3 u;1ia of ?rtorGale/Transior NONE WITHIN NO PRIOR SALF. WITHIN NO Pl IOR SAI.E WITHIN NO PRIOR SAi,!: WITHIN Ptl,:n of Pnor· 1,JTr;1n,(u :Jll MONTHS 12 MONTHS 12 MONTrlS 12 MONTHS

      DaIa aaoor:e(,) PUBLIC RECOROS/1$C 1$CIPU8.Rf.CORDS ISCIPUB.l's!;CORDS ISC/PUB.i<f::CORDS

      Eni,,:l!vi, Dole o/ Oala Soo,r,e(s) MARCH 5 2007 MARCH 5 2007 N'.ARCH S :?007 MARCH 5 2007

      Ane/1•,J of p ar sol or trans/er hlolnrv of Iha sublo I ornneru and e.omoarabla "'"" NO CURA ENT AGRGEMENT 01' SALE OPTION OR LISTING OF w

      THE SUBJECT OR THE SALF. COMPARARLES WGRF, lJNCOVERt:D. THE SALES ARE CONSIDERED TO 9E CAO:H GOUIVAU:NT. >-


      I

      /1/

      ti&------'··--------------------------- -------------, 1

      L

      Summar, al Sale Compa:ison Aj)prnach THE COMPARABLES WloRf: ADJUSTF;O TO THCT SUBJECTS VIEW, AGE, CONDITION, S l ZE'"-"O"-f ;' if)

      %

      1--

      : l W-I VITl --Nl-1-GRA-E-GRE,sA:_-_·:A.A.i:_.DB S-ATT---OH!,L:!-:;:.OC:UC:0-A-NT-TIO.:-;i._rlANS_AIDZ!-tE.._4E,--;O_" !F.l_!:N'TLjiI:V.''.t.;S_l J· G-fZQr_A-UAE-;LA_AE- -VMlE-2:W:P.f,_-HS-A_Qtl"_SiU_GA;litl_._iV'ftYf;_t_OTNt_FO- C.Ai:.::_OtaL-:tLNSS°":"Tc!R.\AE.U_"tS_:C:! T:.!:;I.'O_t1"1Nc-,A::::NHDiA_ECt-!ROS:;_I_..7MI,D.l=l.I-_TAtOj_RNT7.-'-OT- -H -E"$-"-U:.-5J::E"("t""_.-._:.-c_=T-=::.=_--j.\ . . - CQ i.,.,,'

      ' 7 • 12: ::r: C:

      -----'----------------- ------- ,.1-,,1-...,-. AiE 817

      1 7

      '·"'·.. " ..

      """' lnctlc:ilr.r, Valua by S.11"" Camport M Aoorunoh 1.

      1. on onn

        .,.. '""'.J-t\--;;

        -••• -• I



        --- .

        "!l.i

        1ncilc.:iln Value bv S los Comp3r1cnn AoN03cn S 2 2on.ool)

        l:!

        lndlcat,d v,{ue bv: Sain• Comoorl•on Approach S 2 200 000 Coet Appro,ch Ill devclonedl f :?° 2 2 315 lncomo Approach Of deYelopcd) S NIA.

        I'll

        INCOME APPROACH NOT USF-CI DUE: TO PREDOMINANT OWNG"R OCCUPANCY AND LACK OF QUALITY RENTAL DATA. THE


        SAi.ES COMPARISON ANALYSIS IS GIVEN PRlt,MRY EMPHASIS AS IT BEST RE!=LECTS CURREN, BUYERISELLGR ACTION IN

        c;::

        THE MARl<E1PLACE. TH!": COST APPROACH SUPPORTS VAI.UE. · · . ·.

        I

        .ti.:

        carnplalad, , uo1ocl ILi I/lo foll=ln repair. or allerauorv. on Iha beel of hypotlle{IC.11con IUcri lhal Iha repsIn: or allarstloru: Mva been C.0/ll lclcd, or D -. ubjto ID m, This apprblsJI lo moos. LSJ "ilSIs.' LJsubjecl lo complodon per pl;ins end epoclni;;iUona on U1c basla or 3 hypclhettc.al condition 111st 1/l lmprovement.s l""'o boon ·

        lolb,ulnij rnoulrad lnop,,cdon ba,cd on Illa er\r:,orillnary .,,11mpUon Iha\ \h condition nr aonclantY rto nol requln: nl!orallon 01 t,:pair. APPRAISl!o VALUE 1$

        ASED ON THE CONDITIONS & !=EATURES OF THE: SU8JECT AT THE TIMG: OF INSPGCTION. ALSO SEE l\MITII-JO CONDITION$ ..


        I

        -

        Ba•e<l on a comptato visual , •\:><'Cl!On er uw ln\Sl\or 61\<l miltar al'l!C1 of Iha BUb)ect propariy, daflriod ICO er worlc, atalcmont of , .. uinpUona anr:t llm\Ung

        condldon,, and approla(a ccrtJnc.Ucn, mY{ourj opinion cl the marl<et value, aa <tennlld, of !llor11.1I prop6rt/ Ulat is·th.a &Ub{cct of this report Is_.·· · . ·.··

        $ '· 2 200 o, oo •·• cl . MARCH f. 2007 which Is I • rlat• orlnc o<tlon and tho otf0<:1lv• d•I of Ihle , 0,;,. 1331, · '

        E


        rroddla Mx rm , O M:11c/J 200,


        Cllo FORMS Appfllieal toltwizre 800-622·6727


        Fannie Mao Form 10Cl4 Marcil 2005

        Paae 2 "of ,a


        Received Time Mar. 12. 4:31PM



        Kick U f<,eete


        . SEP.VICE APPRAISALS.


        un·irarm

        es1 en 1a ,ppra saIR eport

        C:uo No.

        FIie No, RF-O:lO!l---01




        SEE COMMGNT PAGE.

        ..

        HIJRRICAllE WILMA: No mRlor damaA• to lh" surraundlnA areo or\htt sublact mp.:rtv nfter the oaa,lna or HurriCJino WIima In

        Novombsr 2006. No Rdvarne an,,er lo th" mer1rntabllilv or tho vRlua al lhe AUblect oroaertv.

        .,:










        .!/




        1

        :;:

        ;


















        !ll'lilir.(l,h J;:iiNfi;Jl:'l[{lj,""-:iiv,;:/,;,.lim!#:.iill':>i, r,.r.1cosr.:APf'ROACH,T,O\VALlUEI ni:Jt'l d Ulr o·d\by;f an11l o•Mao, fll)ll >f.".:;,,;r,:,1;i1pli',;;:,ll\!,j11 1,, ':VJ-!":11 ,in':'1·i:,1!11,,;,!: ;,.!•·. ;

        . Provldo odooua1e lnrormaUon /or Iha i,nrtcr/cilanl 10 reou..-.,10 vour coal our-.: Md calculailon,_

        ·supr,i lor \he oolnlon ol sl\a value 1,ummMv ofcomoara lc land salsa ara111.,r mclhoda lore,:llm"lino slla vs\ue) Eallm•led silo value wa. :ibs\rnc100 rrom

        rr:conc lmono11erl roeldanll:il.,Qlos In me subioct'a area.                                                                                                                                                      


        I I I I ·

        ESTIMATED RE?RDOUCTIOfl OR X REPLACEl,t m COST IJEW

        OPIIMN OF SITE VALUc 1 150 ODO

        S.:,(,rco cf cnel d la MARSHALL II SWIFT COST HANDBOOK

        Dwell/no S 707 Sn. Fl 1ftl $ 175.00 •$· ,rna72s

        Qu!@Y nlino tmcr'\ r:oal n Exel. En.clivo a•I• n/ r.nll OBI• Mar. 200!\

        Bamr S<i,F\.lfi)$ •$ 0

        Camirto;n\:; on Cll!I Ar,oroacn lornsr. llvln area c:ileul llons daprocl.,llon ale.}

        KIT.APPL'SIPATIOIPORCH/CVRO.ENTAY J(, SDO

        Si<F. ATTACHE;O SKETCH a. ADOENOUM FOR OIMl:NSIONS AND

        Ga@Qa/Carpan 714 S,,. l'I. (,l> i 55,50 =S 30 627

        CALGULATIOrJS OF LIVABLE AREA. flASE COST TO

        Tolul Ea:lmala a!Ois(,naw :$ 1 07J 65

        Rf:PRODUC6 ASSU11,H1S F.XCELLGNT QUALITY CONSTRUCTION

        Lr,:;s Ph>ticol 1.64 unclion ,I IE>1•ms1

        ANO DESIGN AS REl'GflENCED BY MARSHALL a. SWIFT

        ()ioreclollon 113 5:J7 I 0 I 0 •$ I 18 537 I

        RF.SIDENTIAL COST HANDBOOK. THERE IS NO FUNC"TIONAL

        0.p,,.;lale<l CQ I of lmprov<m,.n\ •S 1 057.315

        OR EXTERNAL Ol'JSOLESCE WE AT'l'RIRIJTAEILE. i.E.I•.• 85

        !A!,.\ • Valua or Un !morovemenl =i !, 000

        YE:ARS


        failm,loo R,m,lnl n Economlt 1,lfo !HUD and VA onlvl Years

        lndblei\ V lua Bv ea,1 A'0oroach :S :> ·/•2 315

        l'Jlil-Y\r.ll1;;;i1: rl\':l!lltli\R's½. .W\!)'J li:'Jtll\lli,1C.Ufil ,{jil! INC OMEiA PP ROACH i'.T.OiVAt;UE·1n aliro·nulradl byiFlidD!o': /Ms",)'i1,;!l,\,'\1!J,!c'1,i/J\11"'lfl'l/ii1 !•:\sl Jfl1' •:,;o ,r.•: 1 '.N,\i) l:'l'':•'i·

        8ilm lt:d t.lonlhly M>rkc.l Rent $ NIA X Gross t.lulll licr " •t tHA lnrtie.,l•d Value Y tnr,ome Aoorn r.n

        Summar,, tJ Income Aor.rooch (\ncludlo ouoaon 101 m.:,,kal rem and GRMl

        r



        ..


        "'

        I


        R



        ;

        :










        I





        ..

        ,, I

        ·




        -

        . . '


        ':-i

        ,;,.

        '.:

        ;-<.

        -






        'rt


        ,;;:

        (t Wi .'.Wl! \ll ll,'t.'iJ!lr. ' l'-i1!l' 'iiJl,• llAt' i>1\JAoJl l,l . 11 \ PROUEC-T,I NF.91ll\lATION!l' OR\fl1JO 'a•1n( ,ao rillc, ble}l"•'i';f:;' '\F1iul!'<'i,.W V!\ l:'l\... \,,e·:m, •, 'l ' W' P c"l i:,n -,l,i!.. ' • ' 1i l •l ,'."''

        • \:; the d -l t><:r/Dull er 1 01n1rn! a!lhr. Homgo\l/TIP.f A:;:;odaUon (HOA\? IX l'l'u lNo Uni\ l'/ll¢1 ) IX IDe(;,chcd I IA!l cnoo V

        '

        Provlda tM roi\(}jllnQ 1n1om1<1!ion for purr, ONLY H me avo/oparlll11ildtrIs In ciinlml of Iha HOA BM Uio sub/eel nm/\Crtl Ii an .1n:.: td1'Wi\iliillt

        l'l'lal Namn of PrD!acl To\al number of vha.,ea

        \

        ;:..

        . ,

        Tol.il numb r of w,ll:i rente-d

        ..

        Tni;>I number ol (1 i1,

        ·Ta\,i.l number nl 11r.\l,,: ........i. ..

        T0111 n11m\:.or ol unllo ,.o(d

        -

        ..

        T



        Iola! numt:R.r r.if nhasea Tnt,il number of 11nit, Tats) numbor ol unll oold

        ::..

        Tolitl numbee of unit, renle<l Tai?I numberar unlls lor aa!a Dsl3 011rc.afs\

        ;:;

        woo \ho nrolact croaiud bv IM eonvernlon or e,l,lina bulldlnnlol lnlo a PtJ01 I I Yea I I flo It Yea, dole of convarcla11.


        Does )/lo nrole<:! w11aln anv mulll-<i""'lllnu unll,7 I 1y.,,r !No Darseourt,.

        ,;...

        · AI• 11,,uni!:;, common elomanl8 nnrt mcraailoo l:1r.llllie.1 camnle.1,.7 I lYa1 I I No II Nn .a cribe t!te alaI11: of comolellon.

        e:::.


        .::.

        "

        ·\Aft: 1hr: common ntr.rnr.nl1 iB3 ed \o or bV tna Homoowner,: A :;od;:i!!on? ! \Yr;:; f INn If Yes de c.1\l)C tt10 rent.at Ir.rm rmd oi::iuau .

        "'



        '

        i :;


        :::dlba commnn olemenl:. :md ro'!raaoon.ll , cilltles. c;QMMUNITI POOL CLUBHOU!:t J HR. MAI-JNED OUAAD GAT COMMON AREA;;.


        I

        FreOOle Mac Form 70 l,\ari;ll 2005 Fannie MJe Fonn 1004 !4Jtell 2005

        ·---- -----·- -·-


        7


        CllckFORMS Appraisal So/tNQf8 800,/l:?2-B727

        P.ioa ::; cl rn.


        .J

        l

        Rec e i v e d Time ·Ma r. 12. 4:31PM





        EXH\8iT 4_·    

        PAG.E 30



        SERVICE APPRAISALS

        COMMENT ADDENDUM



        FIie No.. RF-0305-07

        C6se No.

        1. '. tj\:J8/ l l IJ

          p,,miwer LENZER BURTON                                                                                                                                                                             PrapertfAddrnsB 10.768 VERSAILLES BLVD. ·                                                     Cliy WELLINGTON . Counly PALM BEACH S1a1a i=L' · Zip Cade. . 33467          Lendar/Cllenl Anronlo & Aasoclal"s Financial Servic,,a Addra,: 66:25 Miami l.11kes Dr., MIRml Lnkai:, FL 33014                        


          ADDITIONAL FEATURES: Oakwood banister and leps; s3unn; home theaIor on second floor; recreaUon room on second floor. marble floo[lng throughout tho first floor; mMble flooring nd walnscat!. In bathraamz: high end. flxturos and h;irclware throughout; lake front property: granite tile countartops ,md backepl:isti in kitchen; 41" wood cu tom cabinets In kitchen; rocossed llghtlng Ihroughout: 3 car garage: roer porch and patio :iren; tray I/Ing and sitting roam In mastor bedroom sulla; wood vanltlea and grnnlla vanity lops In bathrooms: lngroui:id aprlnklor sy,.lem. There Ii. wnl! to wall BerMr carpe!lng ln !he bedrooms. The subjod has a built-In home the:ilor

          on the second noor. The house exterior la painted conCfe!e block stucco. There la a full 12.od wseher . nd dryor In the laundry room. The house has caniral air conditioning. The subject I:. considered lo ba in excellent condlUon. Swimming pool )5 undi,r construction.


          COMMENTS ON COST APPROACH: Estimated Site Vatuo wae abWacted from reeonl Improved sales in °ihe subject· ::iroa. High land io vatuo r.illo Is typical of !he arna duo to demand far housing In this section af Wellin\)ton and the lake from lol ·Thia factor does not advor.ely affect the rnarl<elablllty □f the subject.


          DEFERRED MN TEN.A.NCE: None noted at Urne of ln poi::Uon.

          COMMENTS ON THE SAi.ES COMPARISON APPROACH: The comparable wera adjusted to !ha subject's locallon, sit" am.a, &lloflllew, :ige·, i:cndltlon, sl.:e of living atea, car sloraga, and amoniliea. Tho c.ompar:ible u oct were tho beat :iv.1llable with vorl!lable Information, Tl1a subJecc and .Sales #1 :ind ilJ :ire.lake front proportiea. All sales are located In tho VeIT.alllo:;. subdivision•. The &ale5 uncovered Mo similar ta tho subject· · with rogania 10 lacaUon, functional utlllly, quallty o/ canstructlon, Iota! bedroom and bath count, :ippoal; · community amenltlas, and size of living area. Equal amphasls given lo all salo .


          · PfRSOMAl PROPERTY: Per.:onal propeny,_lnciudlng thoiie llems whlc:h are _not poimanently attachedtnxcd to the roal propeny, have bMn excluded from tho asIlrnale of value unless lndlcnled othorwise. Ex mplea of lhc aforeman11onect Include above ground swlmmlno pools, coun!Drtop microwave ovens, movable d!shweshere,

          T.V. satalllle dlshcz, and furnlt_ure.


          · -t_• .- •'

          1

          l

          -"-


          EXH1B\T_    ,. ,..PAGE3\

          M,u,H-1 c-2\fl tJU-Hl Io: c:'.4 Hick U' Keete



          LENZER BURTON

          !dims 10768 VERSAILLES BLVD.


          SERVICE APPRAISALS

          COMMENT ADDENDUM


          File No, .RF-0:J05-07

          Case No.

          City W LUNGTON Counry PALM BEACH SIaIa FL Zlp Code

          ,ill AnIonlo & Aaaoclsle! Flnanclal Servieea Addm,: 6625 Miami L11ke5 Dr. Ml11ml Lnkos FL 33014

          33467


          AC JJTIONAL FEATURES: Oakwood banister and slaps; a.iun:i; home theator on second floor; recreatJon room on econd floor; marble floo[1ng throughout tho flrat floor: marble floor1ng c1nd walnsca!S In bathroom::; high end. flX1 ros and hardware throughout: lake front property; granite Ille counlar1ops ;ind backeplasti In kitchen; 42" we d custom cabinets In kllchen; rnellssed llghtlng throughout.: 3 car garage; roar porch and patio :iren: tray

          eel g and alt1Jng room In maslor bedroom suite; wood vnnlllea and granite vanity lops In bathroom : lnground 11pi 1klor system. There le wait to wall Sorber carpellng In the bedrooms. The subjod has a built-In home thentor on 1e second noor. The house exierlor Is painted concrete block stucco. There la a full lz.od washer :ind

          di) r In the l:mndry room. The house h.1& central iilr ecndillonlng. The subject I:: considered lo ba In excellent c r llUon. Swimming pool Is under conslr\Jction,


          We

          CC M1:NTS ON COST APPROACH: Esllmatad Site V:iluo was abstracted from reconl Improved sales in the sut ecrs area. High land to valul'l.rallo Is typleal af the area due to demand for housing In this section of•

          ington and the Inks front lot ·This faetor does not advon:ely affee.t the market::iblllty of lhe subjoci.

          DE ERt?.ED MAiNT1:N NCE: Nona noted at Ume of lnspocUcn.

          CO 1MENTS ON THE SALES COMPARISON APPROACH! The comparables were adjusted to tho subject's loc. Ion, Ito area, site/view, ::ige, b:indiUon, size ofllvlng arae, car.storage, and :imonities. Tho compar:ibles u::c : were tho best :iv11/lable with vorlliable ln(ormatlon. Tile sub/ecr and.Sales #1 :ind ;C.J are.I:iko rrcnt

          pro orties. ',Alf sales are located In rho Verullloi;, subdivision. The i:ale5 uncovered ilro slmllarto !ho subject

          wllt rogerdil 10 locaUon, funcllonal utlllty, quality of construr:Uon, Iota! bedroom and bath count, :ippoal, cori nunlty amenltlos, and size of living area. Equal omphnsls given to all snlos.


          . PEJ SONAL PROPERiY: Persona(property,_lncJudlng those Items which are not pormanently allached/llxcd lo the ,al property, have boon excluded from the osllmale of value unless Indicated otherwise. Exnmplea of the afoI -mentioned Include above ground swimming poofs, countortop microwave ovens, movable dlshwashere,

          T.V sntoltlla dl:hc , and fumlt_ure.



          EXHIBIT    

          4.·..   .PAGE ,32.

          CllckFORMS Appral I Sortwars aoo-622-87:ll

          P gc _4 or 18

          [2]


          Re eived Time Mar; 12. 4:31PM





          EXH1BiT- ._...._· 'P.AGE )


          IO•C'.4

          r-ucK u r-.ee1e I.I /i/\/vV I V'4,:J V'ULv I • U I 'C.// I IV



          LENZER BURTON I

          . Ptopenvi !d 107BSVERSAILLES BLVD,

          • SERVICE: APPRAISALS

            SKETCH ADDENDUM


            FIie, Ne. RF·D3D5-07

            Case No.

            City' W1 LLINGTON c.iunty, PALM BeACH Slale FL Zip Coda

            ........., "- _,.1 i,,,..

            Com1n·i!<I

            Cod•,

            QW"

            _: .- -....,--- -

            h

            OM


            P□rch 2

            22. •


            .5 BATH


            Family

            ROOM

            12.D'

            14.0'

            Patio Sitting

            ROOM

            3,,0'

            Kitchen

            Sauna

            :":!

            'b-:J>""

            Dining

            ROOM

            LNING

            Bath

            Bedroom

            ROOM

            "eo'i

            "'

            Bedroom

            Study

            WIC

            Laundry

            Foyer

            2:l.6'

            Bath :zu·

            Cvrd,

            ;;,

            .,; Bath

            -. : :.• ..t.=,<t..,11':.-.;., ..

            Thmo Car

            Garage

            Entry

            3.11'.

            12.5"

            ::ur

            ---' --.- ---­

            First Floor

            ::::; )t•;;!!'!0: :-:::.:z=: 5Hr.::--:·-:,: -

            . .

            "'"----'.......

            ·.

            AREA CALCULATIONS SUMMARY

            DMarlpUon

            r1nc l'JJ>o•

            n,b.

            .... r.uo.

            O:a.raQ'111

            lz•

            ,ui,,g

            120, 00

            - · lU,41

            '714.l!i

            Nel Tablls

            3■◄7, iQ

            ·...::-·u1.u

            1U,l5

            nl Anlonlo & Aesoc!alos Flnaricf:il Servlcos Mdrnii ea25 Miami lake& Dr,, Mf;,mf Lakes, FL 3J014

            33467


            LIVING AREA BREAKDOWN

            Br••kdown !;uhto1ala

            T1Ht Tlooir:


            - · •-""'-·- - --.!-..:._B, -5 Q_S. . J.2 • J.:

            3,% i 25,&

            ,.o 19,7

            U,D i ,:'.

            n,D s ,, ,o

            a.s a .o 0 ,0

            J7.0 % J; i

            .1.J 1,.s

            12.!:o %


            . .-:-;;:z::•;3l.-i)

            ?;.ll,

            •1.14

            114.7l

            310,0Q

            710.8

            o,lo

            1T200,.1.1 .

            ===

            1

            .J• .l K ,a,$

            22.!i • lJ.$

            10.D :r 14,0

            7o. •G

            o.,s

            140,00

            --·.·-'--. ·-·

            lTAL LIVADL

            (rounded)

            3848 · 11 C_elcul llons Total (rounded) .

            ·. JB-48

            Cllclt.FORMS Apprlll$lll SollW.l.n, 800-822 727

            Pag 8 of 18

            [ 2 l


            Re e i v e d T i me Ma r. 12. 4: 31 PM









            '.-. _..., _


            EXHl8iT \l·.

            .....:1P,AG-.Ej(

            KlCl< u KeeTe

            ,. ti I I/ I I ti



            Borrou,.r . LENZER BURiON

            . Pmpenyi :dmss · 10768 VERSAILLES BLVD.

            SERVICE APPRAISALS

            SKETCH ADDENDUM Fllc Ne. RF-0305-07

            C.i:;o No.

            . City WI  LINGTON u:,unry PALM BEACH. Slate FL Zlp Code 33467

            nl An·10nlo & Assoclato l=lnencla! SoNlcaa Addre1S 6625 Miami Lakes Dr., Miami Lakes, FL 33014




            Below

            1e.0•

            Recreation

            ROOM

            Open to

            Bedroom t1

            Belew

            27.0'

            q

            6.5'

            ',.

            88th

            Bath

            I:!

            N

            Bath

            18.0'

            · Home

            Tneater

            27.□'

            Bedroom

            l:\

            Bedroor_n

            Second Floor

            11.5' .

            Open to


            G,O'



            ARI.A C.AlCUI.ATIONS SUMtMRY

            _ _:;::cu=·,::Cr1:,::D.::.;Uon -------"-aJ.:..u:_,_N;...• lTb_;..l-a..;.ll._

            &.e&M i'lNr

            UVINO AREA BREAKDOWN

            llrukdown


            ll.D Jr. lf.,a · '11,U

            o,, • l.l:!.,0,.Jr.. lD. l U..,.3.1,

            O,IJ X .. l.5

            ,l,& Jr. ,,o Jl. ll

            z U.5 81,11

            l,! 21. 7 ew,u

            5,D lJ.5 6,7., 71l

            1. 7 J: 11,S

            ,J..51 Jr. ,,£X i8il',,i

            Jr. •.l >J,

            COd·'

            CLU



            I

            0.5 JI. ... .

            O.ti. •.1 ..

            J.>

            .

            ,_.

            :.•

            2, 8

            ,o.D

            i.&

            •.1

            1).5 it 2.5 .

            :.e

            D.S a ,.2 .

            lll,D

            • ,2 ..o

            0,, IC ,.z

            16.S

            .

            ,,..2

            1.D

            H,7l

            lJ.o, LOO '1,0J

            uo.co

            3,04

            :?is.,, I.Ga D ,0'0

            US.SQ

            .

            TOTAL LNABLE

            (roundod)

            18S1l

            18 eul Gona Tat l(roundad)

            1880

            CllckFORMSA PPralsel

            P oo D ol 18

            [2]


            Re e i ved Time Mar. 12. 4: 31PM







            AUNIINISTRATIVE COMPLAINt

            EXHIBIT #'Jl-. _..;...----==_. """-·­

            . P,AGE _; .E-- ·oF -----



            EX.Hi8ff    

            Ll:...-- ,i,P.AG,E 37

            1-{ick Keete



            fl.,rlOWllr. LENZE;R BURTON


            SERVICE APPRAISALS .

            LOCATION MAP ADDENDUM FIie No. RF-0305-07.

            Case No.

            dll'.!: 10766 VERSAILLES BLVD.

            City Wl ·.LINGTON Coun!'f PALM BEACH SIM FL Zip CDda 3 67

            · 11 Antonio & Aseoel:ilos Flnanclal Sorvlcaa AM"'"" 8625 Miami Lakes Dr., Miami L.1kos 1 Fl 33014



            [2]


            Cllck. FORMS. Appr:Ii I S0Mwo1r0 aoo.·ei ;i ..;i727


            Paga 10 of 18


            Re:eived Time Mar.12. 4:31PM






            . . EXHIB\T # . . . .

            .-;;...:._,;. . -:-: ..... •··• ·'.....,;,.:;:..;.:.._ --·-.....:-.:;..._:.:-.i;...;;.:•-_;:< •c·<. -':.n'l l';w:-" .,_.:.•..--,,..-      sc..- ---p AGt   •"'•%•- \.: 1.,,,.:;¾;,,,,.Q,E,.=- - -   ----..;-e:"·"::"·'-C;::-:",'::_e"_ ,; : .. - . -·


            EXHiBiT      ·ll__· ·   P.AGEJ]

            Kick U- f<,eete r'. I 0/ I I ll



            Bormwei LENZER BURTON

            SERVICE APPRAISALS

            SUBJECT PHOTO ADDENDUM.


            Fili, No. RF-0305-07

            Caso No.

            Pmpeny idmu 10766VERSAILLES BLVD.

            Clly W '.LUNGTON Counry PALM BEACH S1e10 FL Zip C0<1e. 33467

            LonderlC ,111 Antonio & As3ocl.illlS Finencinl Services AdchS3 6625 Mlnml Lakas Dr. Miami L kes FL. 33014


            FRONT OF

            SUBJECT PROPERT 10766 VERSAILLES I .VD. WELLINGTON, FL


            REAR OF

            SUBJECT PROPERTY


            STREET SCENE



            ·. 1:··


            .Re eived Time Mar. 12. 4:31PM

            [ 2 J








            ...... ,....

            AU \V\ \NI;:, I Ki'\ II \-/ \::._

            EXHIBIT # l.

            PAGE ./ Of


            kick Keete f-'. Id 14/ I IId



            LENZER BURTON

            SERVICE APPRAISALS

            SUBJECT PHOTO ADDENDUM FIio Na. RF-0305-07

            Caso Na.

            - ddrass 10786 VERSAILLES BLVD..

            CJly W '.LLINGTON . · CntmJY PALM BEACH S! lo FL lip C6do 33457

            uin ertc'; in! Antonio & Assocletea Flmrnclal Ser.iices Add !. 6625 Mlarri/ l.11kes Dr. Miarn/ L11kes FL 33014


            VIEW OF LAKE

            FROM 2nd. Floor


            PHOTO OF

            . KITCHEN


            -

            Cllckr.-ORMS Appr.dsal Sottwa l'9 BOO•C:22-8727

            [2]


            Pnga 12 ct 18


            } E : e iv e d Ti m·e Mar. 12. . 4: 31 PM




            = -

            AOM\\"I\STRA1WE COMPLA\Nl ... '"""""·..-·-

            EXHIBIT #_:_ j _ .      

            PAGE      

            -=2--_._l _Of,,;,. .=·-:...-·

            ......-,.....


            3

            < l

            EXH18ff-- _JiP1AG.E_

            Kick u KeeTe



            Borrower LF.NZER BURTO I

            Pl'(lportyl dreS! . 10768 VERSAILLES BLVD.


            SERVICE APPRAISALS

            SUBJECT PHOTO ADDENDUM Flit> No, RF :.035- 07

            c o Ne.

            CHy WE .LINGYON C.Ounly PALM BEACI-/ Sla!A FL lip Cede

            11 Anionic & AssoclafQB Flnancl•I S<'rvlcas Addm!l.! 8825 Miami lilkas Or. Miami LRkee FL 3301-1


            PHOTO Of

            Maal&r Bi:drocm


            PHOTO·OF.

            MASTER BATI-JROOM



            <'''.:.-'..:.:.- .. ,.;..:..:.;;·•w--:·,

            CUM :LJ\\Nl


            OF

            4 . II({

            H18ff_·...;_---'PAG.Ell_ c ,,1



            Cllel\FORM Ap_pralaal Software B00 U-BnT


            R.e eived Time Ma.r. 12. 4: 31PM


            .. . . .

            ,4:j-'  -:.=o::--=--..  -""'-      m    ::eg•si  .,,7,  ':7:::, ....-"'l= 'l'-4'::afj, '¥l#- , -"   1f.i1tzjit W--'       


            AU,MINI STRATlVt:::-C.0 ,11f U-tlt\ll

            EXHIBIT #..·..L. ==­

            PAGE .. 2-'5.. ·::; c "'.;,.- ,.,.c,.,


            l/(

            EXHi3iT....------PAGE.J2.

            1. {ick Keete



              Sorrowei LENZER BURTON

              ldm!a 10768 VERSAILLES BLVD.


              SERVICE APPRAISALS

              SUBJECT PHOTO ADDENDUM Ria No. RF-0305-07

              Case No,

              Clly WI .LINGTON County PALM BEACH lale FL Zip Coda

              n1 Antonio Aas«:lqfos Flnancl,,J Servk:oa Addms. BB25 Ml:iml Lakes Dr., Ml ml L11kea, FL 33014


              PHOTO OF BEDROOM

              33467


              PHOTO OF

              RECREATION ROOM

              C·llckF.O. RMS Appnil"-.'1I Soll'.IMara 800-822-0727 Paga 14 of 1CI

              [ 2]


              Re. e i v e d .T i me· Ma r. 1 2. 4:31PM


              ---.·-',. ,......,...,,..-:.,.....,_.-..-,,...,:,_· .• - .• -- .a .,






              ,,_ ... ..:....::..:.:

              A. UMl N\ S 'ri-   1\ WVt   ©OMil14;J1rtr l·::~=:. · ·.•:: 3-ifi)t'._·

              EXHIBIT# j.• ·---·· .

              PAGE· ,, ;i oi::·: -.: _,z;;. - -:;'·· ,=- :,"'""·

              EXHiBiT PP.GEl(7


              •·•• •• • , _ _.., ·, ...,, ,, , ,. I I 'V • ,

              r. t'.J I I/ I I t'.J



              Oorrowor LENZER BURTON

              E!2!!!!!ll'.,; Jdn,, . 10766 VERSAILLES BLVD.

              SERVICE APPRAISALS COMPARABLES 1-Z-3


              FIie No. RF-0305-0i

              C !:Cl No.

              CJty, Wi LLINGTON Counry PALM BE::ACH S!,le · FL Zip Coda 33A67 LMn ;,c· int Antonio & As5oclales Financial Services .Addl'l!'!1 6625 Ml;iml Lakes Dr., M!Aml Lakes, FL 33014

              mm =========;::=============;7ijlcoMPARABLE#

              · 3597 Royallo Terrac1

              WELLINGTON, FL


              COMPARABLE ti- 2

              10714 Versalllc,s Blvd. WELLINGTON, FL


              [2J


              P ga 15 o/ 18


              Re eived Time Mar. 12. 4:31PM







              ADMINISTRATIVE COMPLAIN7Jj EXHIBIT# / ...

              PAGE

              ")..t OF                       


              EXHIBi_LP fl.GE.i{j

              I LL\...K V I\CC IC ,r-1"\AJvU I 04tl Ot/C'." , • la I 0/ I I la



              SERVICE APPRAISALS

              USPAP COMPLIANCE ADDENDUM FIie No. RF-0305•1

                                                                                                                                                                            Cai::/:! No.                  


              APPRAISEf S CERTIFICATION:

              Tha lollowl r Cortl/lcatJon sblemonbl era In 11dd1Uon to and may aupor,cd tho signed APPQIScr'1 CenJ!lcellon att:ich d lo !his apprnls:, ,:port Toi, Apprala r's Ce1'11nc:ation l3.ccmpllant wilh the current edition of the Uniform St ndanfa of Protes,lonal Apprai3aJ Prac ce.

              I eortily Iha l the best of my l:ncwlodQ11 and bellaf;

              Tne sl;iteme ts or r et contained In thl report era true nd corrocL


              Tfla reporloc 3nalyse , oplnlona. and conclu,lons ere llmlled only by !he rapor1,:d nsumpUcna nd limiUng condlUons :ind gro my pe n I, lmp:irtJal, am unol:i,od profaaalor1:II n.ilyBoa, opinion,, 11nd conch.is/on,. ·


              I have no pro :nt or proapee[lv., lnl.qreat In tho l)roporty that I, lhc sub/or:t or th P0/1 ;ind no personal lnterc;t lh respect 10 Ille p.irtic ,clved. I havo no blai 1o11!h re•pect ltl !ho i,roport)' that I• lhi: ub)ect ct tnls repon i;ir tc the par1Je& lnvovcd with thla a&!IQnmenL

              My engag.,m, 1t In this aaslgnmon: lilaa not ccntinoent upon dovelooina or repor1lng pr,:dotorrnlned roaulb,


              My compcmil ion lcr comi,lnUng t la auionoment la not contincont upon !ti developmont or reporllng of" pnodotermln.,_<1 v /Ui: or<Ilrcc: m In value:, lflz,t fi,1,1 ,. lh" e.au o of Iha cllenl, lhc, gmount cl lh"' valua opinion, lha elt,iinmonl cf a sUpulaled re,ult, or the occurrenc" of 11 ,uboo mt evonl dln,ct!y 1/ated lo !ho Intended U&o o(lhl• appraisal. ·


              My .. nalyao , 1pln/one, end conc.!ualcna wnro davchaped, and I/ii,; ropon hae been i;>r=J,Qrl!d, In conrom,Jty with tha Uniform S nd;· / at

              Professional, 1pr11laal Pr8eUco,

              C

              ' .

              I [K]have 10110 not mad a e p"raonul lnspectJon or lh• i:mipeny that I lh• subject of lhl• n,port. (It more Ulan ono parson signs I.hie o.rtJ: •lion, thl!l nlne.ilio must cli:.irly specify Which lndlvlduala did and which lndlvfdu11ls did not makll a por:on l lnspecilo11 or u,,, ;,ppmiaad propel'!)·


              No one provld : $lgnlllcant roaJ pniperty appr8/&111 nslatance le111& P• on algnlng !hi• cortlncatlon. (II !Jloro aro ,xcepllono, Illa n:imo o: ach lndlVldual pro Ung •lgnlncant real 1,rcpvny apprel&al uslslance muai Ila • tad,)

              PURPOSE.; IN .ENDl:0° USE, ANO ·1NTlilNOEO U3t;R OF THE APPRAISAL:

              The purposa o lhe appraisal J1t l0 c Umata 1her m.:irk11t value cf 1/10 subject property, .:is dofinad In this n:,port, as er lile errectlvo do!o ol this r., rt.

              Tho Infonded u 8 or lh• apprelaal I lo aaalet lhe cilant .-nd any oll'lor "11,ondod uaens In lhi: undcrwnl!ng, apprcV11I, and rundlng of Iha mcngag, ian.

              Tha Intended ere or IHI,; rapcn 'lr.. thi: laled c/lonl 11nd any other In,filuVona Involved In the undarwrlllng , approval, and n.rndln1:1 cf Iha ll)C 1i1ae

              lean. No ono 81 a, lneludinc the purc a,or and seller, ,hculd rely on lh" = limale er vatu,i or any other conelu,ion:1 ccntelned In thl appraisal 1 ,of'1,


              ANALYSIS AN I REPORT FORM: _·


              _ - _ - _


              _ r-r. ._,_ _ ,c;.d,i",. .;i;..- s;,q:-.::,;r;a_ ;iii.,,,.;::: _. ,,•,·"'

              0

              Toa apprl!ll I I based on tho lnfcrmat/on a:ithered by U,o :ippralaer frorn public record,, olh,:rldontlne<l ourcc;;lnape::tlon or lhc 51.!bjoct pr, erty ,

              ;;;::;::;, -..::.= . and nelg1lbom1 >d, and $clactlon or comparalll!is.!il,1$.lisfings-:-;ndi rentals wlll'lln lhe s_ub)ect markot .,r,:a, .

              The orlcln:il io1 ea or lho eomparablo di1U1 descrlbed In the Data Source section or I/lo marlcet grid 11lon11 with the ecurc,: of t:onfllTTlaUon prov od,

              where avall:iblc !he crlgln.11 :iuur,:,, I• pn,,onred rtraL Toi: ooureee and dolt;, ere consldercid rallabla. When connlctlng lnform.iti n was provid•·

              eoun::;a dQ<Girrioi m sl: f'Ollabf has been u1od. Data belJevod 1o b" ":'nralh1blo wr:rs not lni;ludea In 'the report Or"U!t?d 21: .:a ba.sla for th1:1 v. JC

              concru,lcn. T,n; ex1ont ·ct tho an.ilynls to tlll• 11nlcnment I.! slilled In Lhe Appralaer'a Cer!lnc.itlon Included :i ovo ·and au.:ichc:d to this re rt.


              OE:FINlilON 01 l SPECTION.:

              . . _ : .. _ ..t..- io· :- - ,,J. 1J } J f( ;f;i t {{ 1-!l'?f5:::'

              The term ·1n:1po does not n.my In not an expert ln­

              tlcn", a, u,od In lh/• rapon. la not Ille umo level or ln•poctlo11111:ll l:. roqulracj ror it "Proleaslonal Homa lnapecUon·. The ap;:: l 6r · · -- iact t/le 11lac1rlcel system, plumbing syslams, mol;h;mical sys ten,,, fcundatlo" sy3lom. floor •INciuro, or sui:>floor. Tho apflra: :r Is

              natrudlon ma!arlal.s nd lhe purpo•a or the eppr81 :il Ill to make an e,;.cinomlr: "V":IIUiltion er tne !Ub]ect property. If lho_ c/len:

              ne"d$ a more d, :inod lnapocUon er L"la proparry, e heme l11spocdon, by .i Pl'llfesalcn.af Home lnepeclor, ill auggeal8d, _;"-',..,-, -


              OIGJTAL SIGN 1JRES: . _ _ . , _ _ '""'. -,, 5 :;..;;-;;:;;:'#:ii., ;-''f"\,i<,

              The elgn;ituro(s

              Sr!lxcd ID tl\ls r,:pcr and certitit:.atlcn, """l'D appllad by tho origins/ :ipi:,r.aiser{sJ or iupcn,lsory .1tpi:,r.ii•or and represent t: Ir

              acknowj,:dgoma ts of t.hn lacta, oplnl,ina and i:oncJualons round In the repor1. Each appniisel{s) applli:d his or her a1gno1turo elec1rnnl lly ual, a

              password encl)IJ •d mottiod. H"nci: theae algriillurea fle11a more aaleguan;I; and carry lh,: nma valldllY ilS the lndlvld aJi!)9JPff\ e,1 f{9!1,ej i"t: : CQMr-LAI.Nl _

              .'I

              1r the report has

              nand•applled &lgncl':ure, this omment <llJos not apply, . .

              -- -EXHIBIT # C

              < -:_.:..:..:.. :.t,7!:. ·'!:" :r. ·"'.; _:;..::·- ..:":.._...

              .-·-'---:--

              OPINION OF Mi (KET VALUE VS ESTIMATE OF MARKET VALUE: - -+-------== -

              Tho currenl Unlf< in sr.and.infa er Pror= lonel Apprill I Practlc:o dofinea the m rkot value condualon aa "In opinion oJ:- Gf::alue ,ind not az,4 eaUmz,li: of mark I value. · · · .

              'fHREE YEAR'S, I.ES HISTORY FOR. THS SUBJECT PROPERTY: . l J

              Tho apprelsar ha ccmpll,:d with St.:in,jarda Rul" 1- b and 2-2b (Ix) n,quli1no tho appralsor tc enaly::c, and report 1111 ,;.ilos or Iha ,ubijt_prop, 1

              that OCCJJIT9d wm , the tt,i"l,o (3)·yeera prier tc 1h11 er!cdi1111 date or tho eppral I. II lhls lnrorm;ition wa :i..,o1i&, M lb Tpralaer( J, II 13 repor. .F?,

              In tile 1ubjoct col' nn ol Salos Compertaon >-nalyals section·of tn" pprolaal report. ·

              OF                  

              GEsQr_,

              _ _ _       .... -·- _,. ,u, ,-•Q '""" ,u ""' a11cQJV11 °'"" or tnl! appnu .:11. II tnts tnrormaticn w:is :iv;iilable to the ;ippralaer( J; 11 ia rep, :d


              [2]

              In ll\" •ubjoct .:a umn of Salas Companaon Analyala section of tne PP('lllsal report.


              !;XP06UR.E PE 110D:

              Oy ,rudylng the ,ales o/ similar i:om,,arable •"•ldantlal propertias with v luo ranges"" ldunUnad In the Nelghbcrhood s.. ction ct this raper:. na

              dl•cunlona 1111U. lndlvldu>11s·knowled-;a.1blil or currant nelghDOrhood trandc In the subJ.,ct area. I/la :,µpraiser reels thRt the ""po;ura time re- ha

              aubf,,cl propan) "t"'l in the Neighborhood ••<:lion or llll• a1i;,pralsal raport. ·

              □ □

              ! iii :ri,r ·

              Slanaluro \ ii(- ;::;S.lC..J"'n""n... u_re"-·--...;...---'------...;...-- old Did

              N::,me G·ec: ;.,:. =-:::: ::'::::-:-- ;;.;;;S'!' - N_am-"-'.:",---------, Inspect Propor

              Dal"  Re!lPrtlSI• !.o: ;.a:. :..-.:.:..;.= ;;...;;==;;:..;;:::::.;;;;=:.;       □•ta_ R_o p o..,rt_S_l.,_g-'-ne""d"-----------.....;.------. ;...-

              Stato Ccnlflcati n #  RZ!l67 State FL .S ta._r_e_c_e"'n""l""ffc_R_l.l.c._n_#                                                            

              Or St:ita Llcene # S11119 Or St:ile 1.lc,;,nse 11

              CllckFORMS Appra!HI Sorrwan, 000-ti22•11727

              -..;S:,::.l n::;le --


              Paoe 16 cl


              Re eived Time Mar. 12. 4:31PM





              £XH18iT_4         PAG.Et

              Hick Keete



              . LENZER BURTON

              SERVICE APPRAISALS

              APPRAJSAI. AND REPORT IDENTJFICATION


              FIie No. RF-0305-07

              Casa No,

              Propert. Addreu 10766 VERSAILLES BLVD.

              · WELLINGTON Counry· PALM BEACH Ststi, . . FL Zip Code

              llr:nt Antonio & As::odataa i;inanc:lal ServlCE.!I.' Addn,u BB25 MiRml Lakes Or. Minml Lakes, FL a:;101

              Th/: Apprals:il confcnna to_EM of lha followlna definltlcn,:

              IX

              C

              Ccmptale Appriilsal

              TM :\Ct er proc.e$$. or esllmetlng V:\IIJa, qr en eailm:itc of value, performed wlthout Invoking the O panuri: Provision.

              Limited Appraisal

              .

              TM Qd or proceu·of01tlmatlno v:ifue, or an eallm:illon of value. perfonnod under and res<ilting from ln11oklng th.,

              Oep'lrtun, Provlslo,1, · '· ·

              Thli eport Ii; er 11\e fol/owing type :

              D Solt Conl:ilnod Reper!

              A wrlnen report prepared undor Stand rd, Rufe 2-2(AJ of Q c.cimpleta or /fmltod apprataaf perfcnned under St;md;rd t.

              [Kl Summery Report

              ·A wrlnen report prepared under SLBMAl'da Rulo 2-2(B) of :i comp/01.. or llmil<1d appn,tut performed under Sbmdard 1.

              Rc trlc:ted "port

              A wrllten ropon prep-,n,d under Sbndard& Rut" .2•2(C) cf a compl10li, er llmlled 11ppralaal performed under Zt.and:,rd 1.

              C< nments on Appraisal and Report ldantlfication

              No• , any depa rtu rorn,m Standards Rulo• 1-2, 1..:1,·1-4, plii• any USPAP•role d lnuu n,qulrtng dlaclc.•uro:

              1


              33467







                   ----_-_-_-_.:......


              --:---_-_-_-_-_-_-_--r:-EvaXDJH..J."lr(.!:'7i.lJlJ,t,.:..-..!.-:..-_Jd::t:·=. = ·,rll'll,1..GE_l{;J-


              [>,<]


              CllckFORMS Appraisal Software 800 22-8727 P;igo 17 cf 18


              Re:eived Time Mar, 12. 4: 31P.M

              [ 2 l



              :- =-- -"'<~•:· ­

              AUMl 1\1IS m.A=HV [:;c;-..,1:;0M:f'' CAIN-.l -: · I

              EXHIBIT # l

              PAGE      ...,.J.:;-/.;;;:;-·OF  -=-m


              KICK u t\eeTe


              SERVlCI: APPRAISAI.S


                                               Uniform Resiclontlal Appraisal Report

              FIie No, RF-D305-07

              C sc No.


              1. Tl'lo' ndor/clle111 mAy dladose or dlstrlbute lllls l/lPl"ilisal report Lo: 1h11 borrower; .1nother lander al lhc roqueat or the

                borro"'"' tho mortgage11 or llll aucc11 20..,, and aufgns; mongage, lniun,r.i; government 3ponsored enlerprlsaa: 011'1.,r seconda , mar1<et panlcJpan ; dais ccllact!on or n,ponlng acrvfecs; prcteoslonal apprala1t1 org;nizatlcna; any department,

                cgoncy,. r lnstrumenlilllt:,, of the United Slataa; and any 1tale. the Olstrfct cl Colurnbl.l, or other Jurladletiorui; without h;:iving to

                obtaln:111 appraiser's or ,upeNlaoiy ;ippralaar'a {Ir applicable) ccnienl Such consent muat be obt.iined be/ore U,I:; ppralaal

                report m. / be dlscJosad or dls.trlbull!d _tc any othnr party (lnciudin[i, but nol lfmllad lo, tho ·public through edvcrtiaing, public rolatlont ,ews, sales, or othor medl:1), · · ·


              2. I ;in

      fQWB anq

      ,11 re that any dl=closuro er dlslributlon o/ !his aippralsal report by me or tne londor/cllent m:iy bo llUbject 10 Cc:/Ulin caufgUon•. FuMor. I arn al$O 1ubjec110 1h11 provlalons or Iha Uniform Sl:md-'1n1a of Prorossionel Appr.li,o:l PracUca

      that pert ., to dlsc/o,u ordlnlrlbution by me,


      23, The t

      ln,ursra,


      rrowor, anothc;r lcmler at rno r11QUSB[ or llle borrower, Ille mortQagee or Its ouccoB!ora nd u•lgna, mong;:ig11 ovc,mmenl aponscmd enlcrprl»ea, end Olhor sacondaiy markol partlclpilnl may rely on lhis•apprslaal report ea part -

      of any mt laeaa nnanco transaction that lnvolva any one or moro er rllese po:rtic:1, .


      2,. Ir !Ills pprela!l r,,port was tr:,nsmlned as :,n "oloctrcnlc reconj• containing my "olecuonlc aignatura." a& lho,c torma are

      .ls

      darln,;d Ir 1ppllcable fodoral and/or sta111 laws (nxciudlnc audio and video recordings), or a racalmllo trsnamlaalon of thl• apprala'ar ,pon contAlnlng a copy or l'?!PfOHntaUon of my 1lcn11urir, 1h1111ppnalnl rep<irt •hall be as a/!'ecdv,, enrorceablo qnd valid If ; paper vorslcn cl till 11ppralaal r,,port ware dell en,d containing my or1glnal hand wrlnon algnatun,.


      :ZB.Any:lr. inllonalor negllor:nt mlersprr:.acnlaUon(a) contained In !hi• 11ppralaa1 report may result In i:ivil llablluy :ind/or

      criminal p illtio1 lncludlna, but not llmllod to. tine or impr1sonmanl or both undar tho provision& or Tldo 16, Unllod St.itos

      Cod11, Sei ion 1001, et seq., or almll3r stata laws.

      SUPER IISORY APPRAISER"S CERTIFICATION: The Sup•Msorv Appraiser cartifias and :.grce• tha_t


      1. dlrecu, sl/parvlaed tl'l" appral8'!rlor 1h11 sppral•o:I aulgnm•n have read the •ppra/aal report. and agree with lhe sppral er's ena,fy•l•., 1lnlon1, a1a1emont1, cone/uslone, and u,., arppralael"a i::e,rtiflcadon.


      2. I acce171 ull ra•ponalblllry ror tho c:ontenb or lhla eppl'lllSIII report lneludlna. but not limited to, 11'10 11ppralael"• ,malyala. opll'llon:;, at.ateme·nt c:ondualons, and th" ilPPralaer's C<lrtltlcailcin,


      :i. The ap 1lsar ldenunad in this app!'illaal report Ii alther II sub-contractor or an employeo ct the aupcrvi1ory appt.1i•cr (or the appraisal r n),"' quallnad to perT<lrm thl,• ppr.alsa,/, an<1 la eee,,ptable to perfonn 1/lla a p1,1lul under the appllcabl" ,t.ita lew.

      4. Thi" dp ilaal report compfJc,:,-wllh lrlo Uni/arm Sbndarcla or Pro(o.i:;lonal Appr11l1af Priictiec Iha! were adoptod and promulgftfc I by !he Appnilaal Sl.:indarda l:loanj of The, Appnilaal Foundation and lhat ware In pl;ico et tile llm lhla appr3l:;i/ ropan we ropared.


      5, If lhla ap l'lllnf report wg; trsnsrnll!od ea ;in "clocu-onlc rocord" cont.ilnlng my "oloctmnle : lan•1u n,1.<i: those terms aro

      dannod In I ·,pllcable r;doral anctor state hi (cxcludlna audio and \oldaa recordlnaa). or , ciimDe tr:.,nsmi•alon of thi3

      apprahsa.l · >Ort con1.a1n1ria • copy or repteoont:iaon er my algnarure, u,., appralaaf rr:port ,na11 t>o as e11ecU11e·, en(orce:ibla and

      vsllda•lte 1aper version ol this appr:,1...,1 n,port wen, detlvon:d oontatnJna rnY cirtgln;iJ hand written algnalUra.

      ,1; -

      . . -=- -.,,y,- "'·'·.. -..::- 'lt-t }?i: i,   iiI

      .,

      --· ·:,\:.c

      _ -"APPRAISE;"." '4•  \; -' 1iu· - - -'...,.,._      .,..." "'"""" · ",. ,,,-,.,;;,:.lil"'-...-lit.'il.. -"1."";l.'l'..'.f.suPERVISORY APPRAISER (ONLY IF REQUIRED) . ---- -.- . .

      S11Jn1:1h./ro_

      W,•1'4e::m· ifr'" ,

      Namo Q 'rif

      company N :mi1s ·

      . Comp1,nyA; 1 isa · -· --------·-· ·

      --,-'-·;.c..;..-

      ..,.,.=,;.,-,.,;;...;;;;:n-;r,· oc Oeln,yBe ech

      FL 334411

      1

      TEemtoaiplhAodndree 11mber.5=.6;.1..-.:4,:(.).:6..-.;4..6:.6;::.l::-                                                                                             ,

      : hA:::,.u;ber ----- ,+,,.;...--.-----'-V ::,c:_2_ ,;: , _L


      Oeta or Sien tun, and Report MAR:...:::C;.;H:..::6::i..::2.a.O.a.07'---------

      1::ffoctlve O:i . or Appr:,lsaf MAAC H S;.:::2:::.0:::.D7,.                       _

      Sl:ll Cenln< Uon 11 .:;RZ=a::;:fl,:.?                                          _

      orSlzllo Lice so#                                                                                      


      Dale or Slanatt.Jro                                            

      St.ate Ccrllflcallon # _...,..                                               "'"7"""11

      or Sule Llcensi!I #

      f'r


      -------------t-11

      er Otller (da1 1lbe)


      ----------- Stale# _.


      F_L

      :: a-tl-on_O_;s_l11_o_r_c_.,_rti-ric.i-tlo_n_o_r_tt_,t_ _iit:_:::-_r· -::-=-=-=: 1o.---PAGE.2._

      St.:ito

      .....

      E,c;lh.tron-0, o(Cer'Un rlcn or l,Jconae ,.1'-'1-"/3'-.0../ DB-                 _


      AOO/:il:SS C PROPER'IY APPRJ\ISEO

      1n"7RA vi=Qc; 11 1 CC' ct"'""'


      SUBJECT PROP!.RTY


      ADR!:;;S S

      107BB vi::i

      WELLING'

      APP SE

      l.ENOERJC

      Name .J......

      Gomp,m)'

      Comp11n\,.i

      l!m_,11 Adan

      )f PROPE..Ff!'f APPRAISED 9AILLF'S BLVD,

      O N F!:..!•L ,----------------



      a

      Did nal inspec1 $Ubjecr proµorty

      Did lnsµoct elrt=rior al aubject property from street D.ite orrnspecUon                                                       

      (2]

      , VALUE oF sueJECT PROPERTY ;        2..,2...0._0 ,o oo _

      lf':NT

      •·-------- --------------

      im;,Antonlo & Asaoel;;,l"a FlnanclRI SeNl e,

      ldre:$ 8&25 Mi>lml Cake Dr.

      M ml Lilko · FL :l:1014                                    

      :,;---------,-'--------------

      Froldls Mu: Forr 70 M:ktli' 2005

      0Did lnapecl interfor 'Ind exterior of aubJee! prop.,rly

      Oato cfln1pecUon -------- -'-----

      B

      COMl'AAABLe SALES . . . .

      Oid not Inspect elderlor 0fc0mp11 blo &alas·lr-im atri,e\

      Id ln poct extorior or comparabh> t..:aloi from. olrciot O ta of ln pci:tion · ·

      F;Mla IJ e Foml 1004 March 2005

      . Gllcl<FORMS Appr.iisal $oftware ao0-\l22-B727 Paae 7 o( 16


      Riceived Time Mar.12. 4:31PM






      . l L ·. ,.

      EXHiBIT   P.AG.E·,S

      Hick Keete r'. !Di I/ I I 10


      SER.VICI: APPRAISALS


      C<1 9 No.

                                       Uniform Residential Appraisal Report FIio No. RF-0:J0&-07


      Thia repoi ronn Is deslQned to r"port lln appralsa,.of 11 ona- n/t J:iropony or a one-unit propeny with on eccesso,y unit; lndudlng 1. unit In II plilnnod unit development (PUD). Thia re.,crt form la not de5igned to report ;in epprs/s.al oar m11nufach ad homo or a unll In D condcmlnl11m or coopor:itlvo prcjec


      This appn 1.11 rnpcrt l_s $\Jtljoct to e following scope of work, lnlendcd use, Intended user, dennJUon or market 11:llue, aiatement ,f assumptions end limiting ccndlllons, and canme.:iliona. Modln ticna, add/lions, or deleJlon, to the lntanded

      U <'l. lntsni ld usor,·dannlllon of market 11:ilue, or as:umptiona and llmltlng conditions era net pennlttsd. The appr:ilaor may ·

      oxpar,a ill,

      cope or work to. /nc ude any sddttlon.:il rosearch or ilnalyala necessary baaed. on Iha comp/exJty ot this apr;irai

      asslonme1 • ModlncatJ011s or dc1lotJana to the cnrt1nca1lc:>ns are also not pecmit1ad. Howover, add/tlon:I cnrtificallons lhal do notconsUt le rnatar1al aJttirntions to tl'!IJ eppralsel report. sue/\ as thou0 required by Jew or tnose ral.ilad to the :ippraiser'a condnulng 1ducatlon or member.ihlci In an eppralsal orcentuinon, :ire permitted.

      scoi=i'E :>F WORK: Toti scope or woric for.this appraiaal Is donnod by the complcxiry al 111/ appraisal eaalcnmonl and u,e

      reportingr 1 ulrnman ta or this appral131 report form, lndudlnc lho lo/lowing clennltion of market v,,lue, atalomenl of assumptlo, and Jim/Ung cond/t!on . ond certJni:.lUona. The apim1l er must. :ii ;i minimum: (1) peiform a complete visual lnepoeUon f lhe lnttirlor end exterior araes or tho subject p10porty, (2) ln:l)«t thenelgnborhood, (3) ln pe,:t ooc:h or tile

      comp3l'l\bi .sal11a rrcm at least I.he ; t,(4) r-c, 11rt:h. verJ/y, and analyi:e dal:i from rellatl/e public end/er prlv;:ata so rcea, and (S) rc:1 rt his or Iler onelyal:i, opiniono, and condualona In !hi 11pprelaal report.

      INTENC :D US,E: The lnti,r,ded use or th/a 11ppn1iaal repon 1, fer the lender/client to eva1u11le lhe property lhat Is the 1ubjec1 or i is epprals;'I/ for a mnr1c:icq finance t n5'1ctlon. ··

      INTEND :D USER: Th Intended usor er tnla appraisal report 15th" londer/ellcnt.

      DEFINll ON OF MARK'.IT VALUE: Toe most protiaeJo price whlcn a proporty should bring In a competitive end open market Ul'I( rr ell con di/Iona requlaJte to II fair aale, lho buyer and ollar, each ecUng prudenl)y, krlowlodoeetily and assuming

      tho pric,, /; 1ol ettecrod by undue •llmulua. lmpllclt In this denn/Uon 12 Iha conllllmmiltion ore aalo ;, of e spec/ITed data end tho pa s/nJ f UUa from selJBr ta buyer llndar conditions whereby: (1) buyer end seller era typlCllllY motlveted; (21 both panJea aro 19/1 Informed orwsU advl od. end elleh :ictinc In Wl\31 ha or she con=ldera hla or her own beat lntcre3t (3) e rl!asonable Ima la allowed for e:,posun, In the open marks (.CJ p:iymonl la mado In lorme or euh In U.S. dollars er In terms ol nnan::isl ff:,ngoments comparable thereto; and (5) th" pr/ca represents the normal conalderatlon for lho property old unaHecl d y special or craeltv,i nnam:lng or S.!lfe-i concesalcns• granled by anyone asaodalod with t/10 =;,la. ·


      'Adiuatm"r 1 lo the comparab/e,3 m110I b1> inado for opo<:Jal er acaillvu tinanclng or aalaa concc:s:,fona. NO 11dju3tments aro

      n&eeo:14iy, ,r lho•e coola which ere norrm,lly paid by SG/IOJni ea a ICSYII cf tradition or law In a mairkat area; tho3o coats are readlfy Ider tletlle oJnca Irle so/lQr paya !he= coats In \/lr1u;a1Jy all ea/cl tr;insecilons, Special er cre;:alive Nnenclna .

      adjuolm,,nt ,:.;in be med" to lh" comp<1rabla propc,ny by e<>mp:,ri10na to nn:.ndng terms offcrod by a lhlrd peny Institutional lender thin ; not already lnvclvsd In the i;iroperty or tr.inllBctlon. Any adjuetmenl should net bo ,:;.g/culsled on a mechar,J I dollar rordc !ercosl of the fln11ncJng er coneoulon but tho dollar amount of eny adjustment ehould approxlm lo the marl<ol's

      ,.t/,. -

      I

      reaction to ie nn;indng or concoaalons baaed on the: gppralaers JudtimenL ·

      STATEN ;;NT OF ASSUMPTIONS AND LIMITING CONDITIONS: Thoeppral•or' ,;crtificatlo11/n1tiisreponl oubJ.,ct lo U , foHo,,,ini; "••UmpiJ0<1A and tlmiUni; 00ndlUona;


      1. Toe 11ppr Iser will not bo ro ponslble (Of manors ot II legal naturo that a/Tad either tne property belr,g llppralaed er tho title to It, excopl Jr Jrirorrnotlcn 111111 he or Bile bocame aware of dunna tho reaearch involved In perfocmlng lhls cppraJaa/. The· llppralser g; ,umes th;it the UUe fp ccod and marl<etatlle and wtll no\ ronder any opinions about the Utlo.


      2. The eppr, ser l]aa provided a :iKotcll In lh/$ appraise! l"o:ll)Ort to snow the appro•fmlltB dlmon=iona or 1ne Improvements. Tho sketch: , Jnduded only to aul I thereeder in vlauaU:Jna the prop,:rty end undi:imandlng lho nppralae s dotannln11Uon· or l\s 3jze.


          • 3.The11ppn aer n s examined lhe av11/111blo flood m11ps that aro provided by the Fe<::er.,/ Emergon,:y Management Agency

·(er oilier dil' , aourc,,8) _and has noted 111 \hla apprel:.:il report'wt\olher any portion or 11\o 3ubJect allo Is localed In ;in

/dontltled s1 ,dal Floo<l Hazard .A.raa. B"<=:ziu a the appraiser la nol ,a survayor, ho er aha m.ikoa no gw r.mtees, ex.ires• or

lmpliod, reg 'ding Ihle det,,cm/na11on.


  1. Th,i .iJJpn aor will net g/va testimony or eppe:er In court bo:c.iuiie he or :she made an appl'llls.il of the prcperty in• 1.10,!lon,, unleu pee ,c arr.mgement:i to do so hove been made boforohend, or ;i3 otherwtso requlrod by law.


    g.zsrdaue, W11staa 11,xio autislllnces, etc..) obserwd during ll'le Inspection or tho subject property or that he er ) 6

  2. Ttia ep,iri ser hu noted /n \his spprel I report any ed11erao condldon ( uch ea ncoded rep31 . detenor:ilion. me

r' .

I

""'"1>nca of ;w;iro or ourlna u,'e re a,m:h /nvolvod In P'"rfocmlng 1!11 appralaaJ. Unless ot11=rw!se atal=d In tnls - '8lT P,P.GE

ane became rope thec tircpeny ( u

raiser has no knCMrledg11 of any hidden or unerici:irant pny JcgJ denclcncies or adverse condilione I c: ----...---

' _, , ......,- - -- • • -••·-•••• --1.-

8 ulimited to n8 edod reps/ , doterior11llon, lhe pre:cnce ar ha:::.irdall9 wa:.IDs, toxtc subsl.Bnce:.,

u ..- -.--"'""""' 1•• ., 111:1h1ahl• L'l"A ho11. ._,u,mar1 fhAt lhnra Ar.- r'lt't 11.u.,.P't

-----·-·_.              - - ....,...v _..,..,un,,110 UI 1(JC-

prcpeny (5ur I ea, but not llmlled lo, needod repalr:i, doterio Uon, the pre:;cnc:a of hll.:,mJcug wasl.oa, 10,de subell!nee .

;:idveree cnvl =entail ccndlllon3,BU:.} !hat wculd ITl.lke tile property le s v;!uabl", and haa ,,,:.iumad th,,t lhore a,., no ,ucn

conditions 'er I msk"s·no 17usr-1nh,ea orw:mandea, cxpraaa or lmplled. iho appraiser will not !lo (ll•pon:lblo (or arw :.ueh eondltlona:!h i do exl;I odor any ,9nglneering ar tesUn<J thel m!liht be reo,lJired to dl,coverw)lclher sucll condl\lon:. cxiet 13.,a,uee tti.;. ppra r la not lln o."<J)ilrt In tho nela or ci'Nlro m,,ntalh=rd1, this appralaal report must not be com:ldorad as an envlrcnin, 1tel es enrnenl of tiie property.


s. Tho epp,11I or hes.ba:.iod his or hor eppral:;iu°repo/1;ind valu:ition conclusion tor Ml appraisal thwt Is aue(ca to a.au:.r;ictory

c:omploUon; ri ):Jir:s. or 11lle,rntlons on !he auumptlon !ll.:il lhe complotlon, rop.1l1>1, or 111!erationa cl the subJ et property will

[2]

oo perrormeii n :i professional me nncr. ·



cn,:kfOl'lMS Apprals:if Somuere 00O-SZ?•ll7:?7

Fanni Mao Form 1004 Man:h ioos

?.ice · 5 . of 18


R :e i ved Time Mar. 12. 4:31PM



' -

. AU,MIN\STRAT\VE c9MPLl'• ,\Nl.

--

EXHIBIT # . j --=-"='· -- --c--:- ,,;,; -.

PAGE

-----7-.'.:-:>c-_


EXHIBIT     g_PAGE <;7

J-(lCk u l\eeTe r. 'UCCI I l\'.J


St:RVlCE APP ISALS

                                   Unlfo.rm  Residential  Appraisal Report FIio No. RF-a :i S-07

APPR.J ISER'S CERT/ FICATION: The Appr.iiaor cenJrte, and agrees !hat:


  1. I hali ; it II minimum, developod and reported lhi3 appf!ll I Inc=rnan with the scope er work requlramenl: =l.itod 1n

this appri I rnpart. ·


    1. per1o. nod a complola visual lnspodion of tho lnlorlorend extertorcraaa of the ,ubjcctproperty. I rcportodthe condlllon of Ille ImI ovement.s In facwal, specific /arm!!. I ldonUlied and report.od the phy,lc:ll dofic/endo, th-1l could alfact thi:, 1/vablllfy, • '>1.1nelnc$s, or atruClllf:1I lnlegrlly_or the property.


3, I porfoI 1ed lllls·.:ipprelaal In llCCOrdanc,, wfth thi, roqulnimants or the Uniform Slaondo1n:Js er Profe;;Jonal Appral ,

Pra::ttco I at were _adoplod end promulcaled by tho Appraisal SLsnd-1rds Board or Too Appralaal Found;ition and 111a1 wcro In pin et l , Ume tills ap;:,ralsal report was prepared.

-4. I devcl, iod my opinion of the merkct value of tho r f property !11 1 t, the subject ol lhia report based on the Mle! compans, 1 approach lo value, I 11;, o ;dequato comp11reble markot dAla to develop"' rollable 011/es CQmpei1acn appro.:ic:h for !hi!! arala.al aaslcnmonl I further i:nrtJfy that I con:1Jdarad th" cosl and Income ilpproachea to v:iluo but did not d10V0!op them, uni• :; otherwlao lndic:a1nd In llils roport.


5, I raseai l'lod, varlned, :inaly,:ad. and ·r11portad on any current agreemont for sale for the subject prol)<orty, any orrennc tor Sllle or 1111 subject propi:,rty In L1e twelve month& prior lo !he erl'ecU11e dQte cf !his 11ppr.iiaal, and !hi, prior sales er lho sucjoct properly r, · ;i minimum or lhraEJ yeel'$ prior to Iha erfeetive data or lhl• appraise/, unla•a otherwise lndic.ilad In thl: rc:pon.


C:. I reseal hod, varlned, .1no1lyzad, and roported on tho prior aale& or tho comparable s,,Joa for a minimum of one year prior IO the dalr or $ale ol the compe,rablo .s:iJa, unlese othetwi o lndlc:aled In lhla report


7. I aele_cli I :ind used compgrable aeto: that are Joc:lllonally. phy•l lly, and func:Uon-1lly !he moat &lmll r lo !he subject property.


8, I he110 r. I used compgratila 11ale:s \hQt w..re tho rc:,ult o/ comblnlni, a land sale with the centro.ct purt:hasa prleo ot a home tr,-1I lie,- b<ien i Jilt or wlll be built on the land, ·

e. I htilicr n iortod .11d]u11tmen!A to the comp>11";1bla aalea th;,t ronactthe m rket':a reacuon to ilia dlt1erenc113 between 1h11 bject properly QJ j the compgreble atic:,,


1a, I 11er1ni I, rrom a CllalnIen,3l.EJd aoure,,, 111f Information in th/a repert that was. provided b.y partioa who h.!lve II finendel·inter.est In Iha aals oi lnanclnc or tho aubj,,ct property.


  1. I have 10wfed1,e .11nd n:rpeclenc11 In apprelslno this rype or propeiTy In tllls merxet 11re11.


    .:'"'!;..:_


  2. I am_s1 _m, of, and llavo access lo, !he neceu;iry and approprlara pubno :rnd prlllale d:rl;i aoun:a•, ,uc:h as mull/pie Ji3ting

    aeMClla, Ii : .:; osament rocorc!s, public land reeords imd ether such date sour=s lor tM 11roa In which tho property I; located..


  3. I ot:i I ·d Iha Information. e.3tlmale,; and opinions fumlahed by clhar panlos and expre.:;3od In this :ipproisal teport rroin rell:zble iici cc that I botlovo to be tl'\Jo and correct. .


n

14.) have I kon into consldoraU.Jn tha f;ictcra 111.11t /lgve en lmr:>act an 11Sluo with raap&et to !ho aubJoc:l nciohborhood. ,ubjaCI propeny,_ 81, the prmdmlty or th" aub)oct property to odverae lnnuencea In tho develor:,ment of my oplni<m al markol vDlue. I hev., not.ad this gppralaal ropc,n any :idverae cond!Uona (aucn .i,, but not llmitod to, nelOdod repel . dotenorallcn, Iha pre4enci, o haz.ardous wulc,s, loxlo substances, acrvorne environmental conditions, etc.) observed durini, Ille (n:pc:c:tion cf Ille aub/ect pn;) 3rly or lhat I bee.8mo aware or during tho rnoort:h Involved In performini, lhi 11ppraleal. I h e conalderod these.

edverae c,:,; jJUona In my anRiye.la 0'1110 property wlue, andh::ive reported on Illa elToct cftna condillona on lh·c value end

ms/'kct.Jbllll or lho sullJeCI prcporty.


15. I haver I knowingly withhalCI any significant infannaUon from !his :ippralasl report and, lo tho best of my knowfedao, all

s!.;ilamen!A' nd tnro iilion In !his appraisal repoit are true =nd correel


16, I 'JIDlad •I this appraisal rqpolt my own per,on;il, unbla:ed, and proro aionel analysis. opinions. end conciualona, which

ere :subjoct nly 10 the anumptlcn :ind llml!Jng c:ondlllona In lhia apprel:ial report. · ·


  1. I h.ive n


    pr,:sont or pr,;,spectlve lntoreat In tho propen that la· Ille subject er lhi report, Md I have no present or

    prospoc\lvo ,ere.on;il In1ereal or t s& with reepset to !ha panleip,mia In the tranaacUon. I did not b;iae, eltner p;inlaUy or

    CQmplelely, ,y ansty,la and/or opinion cf merl\at vaiua In till, sppralaal re;:,ort on !he race. color, religion, aex. 81,e. martlill g- ·.·,.


    ..· ·          

    rq·

    SIIIIUS, il n< ::ap, f milial at.atus, Jr natl<:1r.al origin of oither trio proapectlv" ownera or oc:cupanla of me sulljcd property Qr cf !he ::'.:<

    1

    Pl10 <1nl dwr ,.,, or OCCl.lPQnla ol tho properties In tne vicinity of !he subjoct property or on sny other b:isis P Frl B11f'_· _.,P,AG.E

    1

  2. My omp ymenl and/or comp3n&aUon for pet'fonnlng 1111!: :ippralael or any IUlur" or anUel.P.ilod .appr lsills was not condlllonod

on any earo menl or unde ndlnQ, wrl l sa, IJ'lal I "":'uld report (pr prcr ent en21tnis supporting) a prodotormlnea spocJflc

\rnhtA A Mr?I, ::i,la.rMll'l•rl ....,,.. ,_, •- • •- 1••-

. r-•-·--- ---- ··-· -··-••1...,,.......

llllli

on any :,gro nen1 or unde \.lndlng, wrlttan or olhcrwioo, !!\:It l WPuld report (pr pre eni lll'llll i3 aupportino) a PT!ldc!ormlned poclflc

Yclu·a, a itermln,:,d minimum value, a rsnoe or dlrectlon In value, a v1tlue lhal favora tho c;.,uae or any party, or lho aruilnmcnt of a

$i:,oel/lc r i , or oeeurronce or. Q !peclflo :n1bsaquont avant ( ueh ea approval of a Pending n,ortaage lo n appllcaUon).


1 Q, r pornoni IY prepared all conelusicna al"ld opinions about lhe re11I oslata lhZ1\ were set for1h In trit:i appraisal report. Ii J relied en

lgnl e.ton\rc I proporty appr:.l11al assl$1.lnca rrom any lndlVlduQJ er Individuals In tho p<1rfo<m,1nca or th!$ oppralaal or Iha .

preparation 1 'lhh appralaaJ teport, I have namod such lndl\'ldual(a) al\d dlscloaed !hs apeelfio taskA pccfcnned In lhla appr.ils.il mport. · 1 i:orury thal, ,y lndlvfi:!usl so n.amad la Qu.illOed 10 pcrlorm the L!llli<a I h11ve not 11ulhorlzed anyone to m.tko a cllanoo to any Item

In lhla appi'll' ;ii report; lhererore. nny cn11noe made to lhla appr:tillBI la unaiulhori::.ed and I wUI rake no re ponalblll\y ror IL , .


20. I ldentllls ·lhe londerlclionl in lnl>i gpprsla,ii roper! wno 1, Ille ll'ldlvidual, org,mizaUon, or agent for lho org niz.itlon 1/llll order11d nrid' ,111 l'TIC lve lhl Rppml I re n.


(2]

Freddia Mac Form l M rch:2005


CllckFORMS Approi11St Sollware aao.o:U-6727 .

.Fannle M e Form 1C()J Mijr;;h 2005 •·

Pago B o( 18


Re eived Time Mar. 12. 4:31PM






' . . -

EXJ-\iSff ·L{_.'_PAGES)

Hick Keete



APf'RAlSER'S C!::RilFICATlON Filo No, RF-0:10$-07

Ceae No.


. LENZER BURTON

Propem J\ddtM 10766 VEHSAILLES 9LVD.

City WI .llNGTON County J.,nt A111onla & AallOcJ.ole, Flna·ncl l SeNicee


PALM BEACH St la FL Zip Code

Addrnaa IIG25 Miami L.okes Or. Miami L11kee FL 33014



'51


STA:rE OF FLORIDA"

pJtP;J1.'l'X1'.:NT o? att nrass AND PROrn5sioNAi .Rl!!lltJ'LATJ:ON

Fr.,QF.l:PA lUl:Jl.1:. Esnn: APPRAJ:SAL BD

l9 0 N. MO RO :il:.

TALt.A.HASSl:2 YL 3:Z:J 9.!l-079 3


DETACH HERE



ClfckFORMS Appro.l•:il So ro 8DD-8Z!-8727 P 00. 1B o/ 1a


Re, e i v e d T i me Ma r. 12: 4: 31PM

[2]






FILED

Depanm.ot of 5us1oeu and Profesoonal Reiulation

Deputy Agency Ch rk

CLERK Brandon Nichols Date 8/26/2009

File# 2009-07021

Sf ATE OF FLORIDA

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION FLORIDA REAL ESfATE APPRAISAL BOARD


FLORIQA DEPARTMENT OF

BUSINESS AND PROFESSIONAL REGULATION, DIVISION OF REAL ESfATE,


Petitioner,


v.


DBPR CASE NO.: 2007-013479 LICENSE NO.: RZ 967


GERALD W. ROWLEY,


Respondent.



FINAL ORDER


THIS CAUSE came before the Florida Real Est.ate Appraisal Board (hereinafter "the Board") pursuant to Section 120.57(4), Florida Statutes, at a duly noticed public meeting on June 1, 2009, in Orlando, Florida, for consideration of a Stipulation (attached hereto as Exhibit A) entered into between the parties in this cause. Upon consideration of the Stipulation, the documents submitted in support thereof, the arguments of the parties, and being otherwise fully advised in the premises,

IT IS HEREBY ORDERED AND.,ADJUDGED that the Stipulation as submitted be


and is hereby approved and adopted in toto and incorporated herein by reference.


Accordingly, the parties shall adhere to and abide by all the terms and cond.itions of the Stipulation.


ADMINISTRATIVE COMPLAINl_

EXHIBIT # ),          

_.;_.--==-

PAGE _ ) OF ------

,_Ii'

,,.1,,.1:.•

This Final Order shall take effect upon being filed with the Clerk of the


Department of Business and Professional Regulation.

DONE AND ORDERED this lq day of C. """(j, j_ , 2009.

FLORIDA REAL ESTATE APPRAISAL BOARD


Thomas W. O'Bryant, Jr., Director

· Division of Real Estate on behalf of the Florida Real Estate Appraisal Board


CERTIFICATE OF SERVICE

I HEREBY CERTIFY that a true and correct copy of the foregoing has been furnished by U$. Mail to: Gerald W. Rowley,:4552 Highgate Drive, Delray Beach, FL 33445 John

'. ·, f. ' . , .


l. Hoffman, Esquire, 2655 North Ocean Drive, Syite 300, Singer Island, FL 33404; and by interoffice mail to lames Harwood, Chief Attorney, Division of Real Estate, 400 West

Robir,son Street, Suite 801N, Orlando, Florida 32801, and to Mary Ellen Clark, A stant


  + ,

Attorney General, PL-01, The Capitol, Tallahassee, Florida 32399-1050; this day of


2009.


ADM.I.N\ST RATI \IE COMPLA.\Nl1

EXHIBIT #_d -----

PAGE _..,. d- OF -----

I

I ru ru

I

If"


ru

.:r

r-9


U.S. Postal Service 111

-

CERTIFIED MAIL,, RECEIPT

.

(Do.m.estic

Mail Only: No Insurance Coverage Provided)

. . . . . . .

s

OFFICIAL USE I

Postage

. CelllfiedFee

rn

rn ru

•.

Return Receipt Fee

(Endorsement Raqulred)

Restricted Delivery Fee

(Endorsement Raqufnld)


Total Postage & Fees

.• !,

Poa1martl Here


$

I§ - I, •••

I'-orPOBoll No.

Clty,Stals.ZIP+4

CCI

rn r-=-=- ....:.- =---:---:--r- - r ,


Ll"J

rl

.:r

ru I

If"

r-'I

m

0 FF IC

Postag&

· .

stic Mail Only; No Insurance Coverage Provided)

.

. .

IA

.

. .

L USE

I

Certified Fee

c:J

c:J (Endoruement Requorec:t)

Return R&ee,pt Fee

· Postmark

Here

m, (Endoruement Reqllfrec:t)

Restrtoted Del1V8ry Fee

m

ru

T01a1 Postage a Fees

co ['§ennttTcTo,jrr:7::-::-,;-:ir-;:-;r-..,.._ ­

§ siniii;Ap

I'- orPO

ei;;,.· ii. i;

:11

F ·--

$

$

(Dome

- ·-··

CERTIFIED MAILw RECEIPT

rr.,

U.S. Postal Service

.

.

:


!

:

  • j


/

'

/


ADMlN\STRAT\VE COMPLAINT!

EXH\B\T #.,;:,..6L-----=== -

0 OF _ ...-

PAGE --- --- --



STATE OF FLORIDA

DEPARTM ITT OF BUSINESS AND PROFESSIONAL REGULATION PLOR!OA REAL ESTATE APPRAISAL BOARD


DEPARTMENT OF BUSINESS

AND PROF SS ONAL REGULATION,

DIVISION OR REAL ESTATE,

Petitioner,

vs.

GERALD W, ROWLEY,

Re,spondent.


DBPR Case N°2007013479


!


STIPULATION

Petitioner, Florida. Department of :eusiness and Prcfessional

Reg\.llation, Division of Real Estate (DBPR). and Respondent, Gerald

w. Rowley, hereby stipulate and agree that.the Florida Real E5tate

App.aiaal oard (FREAB) issue a Final order adopting and incox-porating the provision of this Stipulation as finai agenoy action in this cause.

STIPULATED FACTS :AND CONCLUSIONS OF LA.W

1, Respondent ia and was, at all cimes material herein,· a STA'I'l=l CERTIFIED GENERAL Real Estate Appraiser in the State of F1orida, ha.vin':1 been issued. -J,.i,.cenee num};)er RZ 957 in accordance

with Chapter 475, Flo iQa Statutes. The last licenee the State

issued Respondent wais aa a STATE CERTIFIED GENERAL Rea.l Estate

I


Appraiser at 4552 Highgate .J:lrive, Delray Beach, Floritla. 33445.

  1. Re&:;pondent: admits being sUbject to the provisions of

    ChaptQrS 455 and 475, Florid. Statutes, . the Rules promul.gated


    thereto -nd, theref0re1 toe.he jurisdiction of

    DBPR and the FREAB, ..

    -.J,


    eoon:oo le) 80012:0012]


    l'v837 380

    811 'SI880n OHV HVn OH

    . V t. U1Vl1r'1-A.\.h '·

    r\U 1Vi 1l'111;:, I K,i-\I I

    EXHIBIT #2 .

    AGE OF-----

    s LLLeLov XVJ PS,OL SOOl/50/ 0

    LOP8 OPB L95 xv BL OL SOOl/L0/50



    D/Jf'R. 1>s, Ge,.ald W. RfJW{r;y

    Stlpullltlon


    Dl3PR Case No. 2007013479


  2. Respondent admita that DBPR serveii Respondent with the Administrative complaint, charging Respondent with violation(a} of certain provisions of Chapters 455 and/or 475, Florida Statutes. and/or the Rules promulgated thereto. A copy of the Administrative

    omplaint is attached hereto and incorporated herein.

  3. Respondent neither admits nor deniee the factual allegations in Counts rr, IV, V, VII, and VIII of the Administrative Complaint. bUt oonsents to the Board's imposition of diseipline on those counts nd that aui::h a.llegationa constitute

violacione of the counts.

S. Reepondent sihal.l not in the f.utu.ra violate Chapte;r; 455 or 475, Florida Statueee, or the Rules promulgated thereto.

  1. This Stipulation shall become effective immediately upon

    filing of the Final Order (hercinafcer referred to aa the "Effective Date'') . All dates referenced herein shall commence to run on the EffectivG Date, unlese otherwiae specified herein.

    STIPULATED DISFOSITION

  2. Petitioner shall dismiss counts I, III, VI, and IX of the

    Administrative complaint.

    i . ., .

    1. Respondent shall pay a fine of $1000 and $561 in costs. Respondent. shall pay the fine and coats by separate ohecks paya.L'l(ol

c.o the D.epa.i-tmant of Business and Proreeeional Regulation, Division


2 ADMINISTRATIVE coMPLAINl

-

EXHIBIT #_J

PAGE     ;2_- OF -  


800/E:OOIEJ

800/E:OO i2J

7VEJ37 3 0

377 'SHHJOl'I ON\/ NVl'l.:J.:JOH

OSGlllCLO XV.:J vS,Ol 600G/go/SO

LOPE: ova LSS XV.:J 8L OL SOOl/LO/ O



I II',


DBl'R vs. at1rald W. Rowley

Stipulation

DSPR CMC No. 2007013479


of eal Estate, within one (l)· year from the Effective Date herein. 9, suspension of Respondent,' s real estate appr"-isal .license shall :be.for a period o:f six (6) months, effec:tive thirty days from

the Qate of filing of the Final O oer.

eubmiemion or proper forms.

Reinetatament requires

lO, Respondent shall begin probation for a pe iod o one (1) year, beginning on the Effective Date herein, and shall ave no trainees during the probationary period. During this time period,

Respondent shall attend one (1) two-day F general meeting, from

the noticed tim of the meeting to the duration of the meeeing, not

to exce.ed fiv o'c:loc,k p.m.

'

During this time period Reepondent

$hall also proviQe original evio nce of atisfactory completion of

con:cinuing eciuca.tion appraisal courses tota i' n.g 45 hours. 'The

edueation herein ia in addition to ·;'a.ny req,..1irement for Responae.n,t:

to maintain his or her real estatf!I appraisal lic:ense. Should

Respond nt complete

tha above-listed ·requirement (e)


befo:i:-e

concl.usion of the probationary period and provide satisfactory proof thereof, probation ·Shall terminate.

  1. Noncompliance with t.he terms of this Stipulation ehall , eault in the suspension of Respondent'a appraisal license until

    Respondent ubmi e satisfactory proof of compliance to OBFR; the

    period of i;uspenaion

    shall. not exceed


    3

    ten ( l. Q) years.

    -

    1.,UIVlii-'LAINl

    AUWl i l\l I;::, I KA I IV t.

    EXHIBIT #

    PAGE Le OF



    800/t>OO le)

    800/t>OO 1iJ

    7'o'B37 3H

    877 'SI880W ONV NVWjjQH

    OS ll BLOP XVj S-Ol SOOZ/SO/SO LOPE OPS LSS XVj st:ot SOOZ/LO/SO



    T':JRPJ?. vs. G,m1/d W. Rcwlo)I

    Stipulation


    DHPR Case No. 2007013479


    Reinetatemant shall be effective as of the date DBPR receives said satis£actcry prcof of compl1ance, accompanied y tne proper reinstatement fo;nna.

  2. The FREAB Newfil a.no.. Repor.t eha.ll publish a summary of

Action of Final Oro.er, ae foli6wsl

(Delray Beach]: Gerald W. Rowley, License No. RZ 96?1 Violation: Failure to retain records for 5 years in violation of Section 75,629 and 475.624(4), Florida Statutes relating to two appraieal reports in 2005 on a Subject Property in Wellington, Florida; violation of USPAP Standards R le l•l(a), (b), and (c) and Section 4 ?5. 624 (14.) , Florida Statutes, relating to an incorrect sale hietory of the Subject Property, discrepancies between data sources on Comparable Sales, and upport for djustments; violation of USPA standa ds Rule

1-4 (a) and Section 475,624 ( 1-4), rela1:ing to selection of Comparable Salea for said appraisal reports; violation of USPAP Stand.arde Rule 2-1(a) and (b) and Section

475.62 (14) relating to said appraisal

reports; and violation of US AP Standards Rule

2 2(b)(viii) and Section 475,624(14), Florida Statutes relating to said appraisal reports. Penalty, $1000 fine plus costa, G months lic1a1nae. euspet1.eion, no trainees du.ring the one yaar probation, attendance t o e 2-day FRE.AB

meeting and comple'tion. of 4S hours of

· education in addition t:.o that required for lic::ensure.


13, The partiea understand that this Sti_pulation 1B subject to the approval ot DBPR and of the FREAB, anQ that in the event of its disapproval, the lilama shall have·'no further :force and effeet.

AUMINISTRATIVE COMPLAINT

4 EXHIBIT # J =-="==='··

PAGE 7 OF



0001;00 Ill

800/!tOO 12J


lVEl31 31JO 011 ·sr ON OHV HV OH

OSlLLlCLO xv ;g 0 SOOZ/SO/SO

LOP OPS lS!t xv Bl Ol SOOl/lO/!tO


DBPR v.r. Garald W. Rowley

Stipulation

DBPR CEL'le No. 2007013479


  1. Respondent execute.ii this Stipulation to avoid further

    adminietrative action with respect· to chis oauee.

    authorizes he FREAB to review and examine all DBPR investigative materiala prio to or in conjunction w th consideration of this Stipulation. Further, in t.he event the FREAS disapproves this Stipulation, Respondent agrees that examination of any documents or records rel;,.ted thereto shall not be deerneci to have unfairly prejudiceg DBPR, the FREAB or any of ics members, nor shall such aetion diequal:i. fy any of t:.hem from further participation in the resolution of this oau e.

  2. Respondent agrees that Petitioner ma.y conduct furthe;i;­ investigation t any time eubseg,.ient to the FREAB'e acceptance of this Stipulation, including, out not limited to, audits of Respondene'a files. Respondant further agree= that Fetitioner shall have Qny and all rights and authority the law provide to insure Respondent's compli&nce with Chaptors 455 and 475, Florida Statutes, and the Rulea promulgated Chereto, Respon ent further agree6 tha.t DBPR and the FREAB may coneider this Stipulation in connect.ion with any f t\l;i:-e c:lisciplimu;y proceeding.

1.6. The parties understand that this Stipulation and any

final order adopting and inoorporating its terrris ehall not preclude

or deter DBP?t or the FREAB .from other d1sc1pl1nary p' roceedings


5 AUMINISTRATIVE COMPLAINT:

EXHIBIT # ==--

PAGE !j OF                           


800/800fll 800/900

l El37 3lid

377 'Silili HV HVW OH

OSZLLICLOP XVj 9 -0L sooz1;0/ 0

LOP8 OP8 8 xvj Ol 0 SOOl/l0/ 0


DBJ>R V.l' Gerald W Rowlt1)1

Stipulation

DBPR Cllie No. 2007013479


against the espondent for acts or ,omissions unrelated to tho e et

forth in ehe Administrative Complaint herein.

17. Res'pondent hereby waives a.11 not;i.ce· requirements and right to aeek judicial eview or to otherwise challeng or contest the validity or enforeement of the te s o this Stipulation and/or of any resulting final order of the FREAB adopting and incorporating same,,

ia. All parties heJ::eto shall otherwise bear any and all

attorney's feee and costs they may have incurred in connection with this cause.

  1. Should Respondent withdraw from or in any way or manner

    cancel, ant1ul, alter, repudiate, or · revOKe '. the terme of this Stipulation p:d.or to preaenta'tlon ·or consideration by the FREAB, ReepondeI nt agrees to waive a.ny rishts to seek attorney's fees and

    costs Respondent may have incurred as the result cf the disciplinary proceeding, up to and incl ding che date of withd:rawal from the settlement Stipulation or attempt to alter, change, annul,

    repudiate, or revoke the terms of thie Stipulation.

  2. The FREAS HAS NOT taken prior disciplinary action againet

\

Respondent.


ADMINISTRATIVE COMPLAIN"t

6

EXHIBIT #.£6.. --

OF - _

PAGE

  tj        



800/LOOl2)

BOO/LOO@


\

7V931 3UQ

:Jll 'SHHl011 OH\/ H\IVL:LlOH


09ZLLIP.LO XVj S OL SOOZ/ O/;O

LOPC OPB LS X\13 OZ 01 SOOZ/LO/ O


DBPR \ts, (Jerald W. Rowl,y

Stipulation

DB1"1t CIISe No. 2007013479


DBPR ATTORNRY EXECUTION

EXECUTED thil'l 7/11 day of _ ...f1.1/h


,._"'--'-                 


, 2 00 9 .

. - n       

DOntl.a Christi a

Senior Att'orney

On behalf of the DBPR, DRE


RESPONDENT EXECUTION

NOTARY FOBLIC

State o:c _Florida. at Large

My Commis ion EXpires:

DCL

EXECUTED thia .l day of - +---' 2009.




7 ADMINISTRATIVE COMPLAIN"[;

EXHIBIT# ==-·

PAGE -il lfJ    OF                           



800/BOO

800/800 '2J

l'o'El31 3 0

317 'sr ow ONV NVWjjQH

09 L,LgLQP X'o' L5-0l 600l/ O/ O

l0 8 0 8 l89 XVj ll Ol SOOl/l0/90

STATE OF FLORIDA

DEPARTMENT OF BUSINESS & PROFESSIONAL REGULATION FLORIDA REAL ESTATE APPRAISAL BOARD


FLORIDA DEPARTMENT OF BUSINESS &

PROFESSIONAL REGULATION, DIVISION OF REAL ESTATE,


Petitioner,


V.


GERALD W. ROWLEY,


Respondent.


     ;/

CASE NO. 2007013479



ADMINISTRATIVE COMPLAINT


The Florida Department of Business &. Professional Regulation, Divisi m of Real Estate ("Petitioner") files this Administrative Complaint against Gerald W. Rowley ("Respondent"), and alleges:

ESSENTIAL ALLEGATIONS OF MATERIAL FACT


  1. Petitioner is a state government licensing and regulatory agency charged with the responsibility and duty to prosecute Administrative Complaints pursuant to the laws of the State of Florida, including Section 20.165 and Chapters 120, 455 and 475 of the Florida Statutes, and the rules promulgated thereunder.

  2. Respondent is currently a Florida state certified general real estate appraiser having been issued license 967 in accordance with Chapter 475 Part II of the Florida Statutes.

  3. The last license the State issu clJo Respond nt was as a state certified general real estate appraiser at 4552 Highgate Drive, Delray Beach, Florida 33445.

  4. On or about Apri,123, 2005, Respondent developed and communicated an appraisal report


    AOMlNISTRATIVE COMPLAI.Nli

    EXHIBIT #..1.d;i_               _

    P.A GEr

    l 1 · nF

    --·----·- -


    -------

    FDBPR v. Gerald W. Rowley Admi istrattve Complaint

    · Case No. 2007013479


    (Report 1) on a property commonly known as 10766 Versailles Boulevard, Wellington, Florida 33487 (Subject Property). A copy or' keport .1 'is attached hereto and incorporated herein as Administrative Complaint Exhibit 1. Report 1, prepared for purposes of refinancing by a private · lender, valued the Subject Property at $1.53 million.

  5. On or about November 18, 2005, Respondent developed and communicated a second appraisal report (Report 2) on the same Subject Property. A copy of Report 2 is attached hereto and incorporated herein as Administrative Complaint Exhibit 2. Report 2, prepared for purposes of refinancing at the request of the client WCS Lending, LLC, valued the Subject Property at $2.2 million.

  6. Petitioner received a complaint concerning Reports 1 and 2 from the private lender, Oriel Tsvi (Tsvi). Tsvi complained that Respondent failed to use more suitable, available, and proximate Comparable Sales from the Subject Property's neighborhood, the Comparable Sales relied on by

    .

    Respondent were superior to the Subject Property, and their use resulted in overvaluation of the

    '


    Subject Property.


  7. Through investigation, the following errors were noted in Report l :

  1. In Report I, Respondent used Comparable Sales I and 2 in the Subject Property's neighborhood, but the remaining two Comparable Sales relied upon were from other subdivisions;

    . .


  2. Respondent failed to use numerous recent, more suitable Comparable Sales from the Subject Property's neighborhood (the Versailles PUD subdivision);

  3. Comparable Sales 2, 3, and 4 were all in excess of a mile distant from the Subject Property;

    Al)MINISTRATIVE COMPLAINT; EXHIBIT #..t;;._2/ ====­

    PAGE t 7.,,- OF

    FDBPR v. Gerald W. Rowley Administrative Complaint

    Case No 2007013479


  4. In the comments to the Sales Comparison Analysis section of Report I, Respondent directed the reader to a sales (sic: subject) history addendum that recited a prior sale of the Subject Property within the previous one year period from Nathan & Yoldie Vincent to Lorraine Smith Brooks and John Kibler in May 2004 for $226,000, when no such sale had occurred;

  5. Respondent listed the condition for the.Subject Property and Comparable Sales 1, 2, and 4


    as "excellent" but adjusted Comparabl· Sale 3 by+ $5000 for "good" condition, without providing any explanation for the stated condition or adjustment;

  6. Respondent listed data and/or verification sources for the Comparable Sales as ISC/Public Records, but failed to note discrepancies between the data sources as set forth below:

    1. Comparable Sales land 2 had different dates of construction;


, 2) Palm Beach County records showed Comparable Sale I to have 5 bedrooms, 6 baths and 2 half-baths, while Respondent reported 3 bedrooms and 2 baths;

  1. Respondent reported Comparable Sale I had 5,570 square feet of Gross Living Area, while the Palm Beach Count Property Appraiser reported 7.,544 square feet;

  2. Respondent reported Comparable Sale 2 to. have 3 bedrooms and 2 baths, while Palm

    . I . . ,

    Beach County Property Appraiser's records reflected 5 bedrooms and 5 ½ baths;


  3. Re pondent showed the gross living area for Comparable Sale 2 as 5,670 square feet, while the county records showed 6,542- square feet;

  4. Respondent reported 6,715 square feet of gross living area for Comparable Sale 4, while county records showed 5,568 square feet.

, 8. Respondent committed the following errors or omissions in Report 2:


3

ADM.IN\STRATIVE COMPLAINt

L.2

EXHIBIT # B ===-

PArl.,:;,E --


-..

- OF ----·---- -


·,•. '

FDBPR v. Gerald W. Rowley Administrative Complaint

Case No. 2007013479


  1. Respondent utilized Comparable Sales 2 and 3, which were from different communities than the Subject Property;

  2. Respondent failed to use numerous recent, more suitable Comparable Sales from the Subject Property's neighborhood (the Versailles PUD subdivision);

  3. Comparable Sales 2 and 3 were over a mile distant from the Subject Property;


  4. Respondent listed the condition for the Subject Property and Comparable Sale 1 as "excellent" but adjusted Comparable Sales 2 and 3 by + $5000 for "good" condition, without providing any explanation for the state? condition. or adjustment;

  5. Respondent made significant upward adjustments in the Cost Approach Section of Report 2 over the previous values stated in Report I for site value increasing it from $575,000 to $1,150,000 in under 7 months, per square foot reproduction cost of the gross living area of the Subject Property increasing from $155 per square foot to $175 per square foot resulting in an overall increase in value of $113,985, and an increase for appliances without adequate explanation or analysis;

  6. Respondent listed data and/or verification sources for the Comparable Sales as!SC/Public


)

Records (and MLS in the case of Comparable Sales 2 and 3), but failed to note discrepancies


between the data sources as set forth below:


  1. Respondent listed the site size of Comparable Sale I as 14,473 square feet when the Propecy Appraiser's Office shows .28 acres, equivale.nt to 12,196 square feet;

  2. The public records show Comparable Sale;1 was built in 2003 instead of 2005;


  3. County records show 6,307 square feet for Gross Living Area for Comparable Sale I as opposed to the 5,708 square feet reported by Respondent;


    I '

    ADMINISTRATIVE coMPLAINll

    EXHIBIT #-_cl       .----

    1 IL u~,i::: ---

    a.AGE _0,:        ' --··

    FDBPR v. Gerald W. Rowley Administrative Complaint

    Case No. 2007013479


  4. Respondent's sole supporting documentation to·support listed features of Comparable

    - .. . I

    Sale 1 is a printout captioned "Competitive Market Arialysis" (a_copy of which is attached hereto and incorporated herein as Administrative Complai t Exhibit 3) dated O I /20/06, ( after the effective date of Report 2), which reported only the number of bedrooms, baths, living area square footage, date and amount of sale, lot size, dollars per square foot and year built;

  5. The Competitive Market Analysis document reflects that Comparable Sale I was built in 20_03 1a n? not 2005 as stated, that Comparable Sale 1 had 6,959 square feet of gross living area and not 5)08 as reported by Respondent, and that Comparable Sale 1 was sold in November 2005 for

    $2,418,000 and not in October 2005 for $2,400,000 as stated by Respondent;

  6. Respondent reported 6,101 square feet of gross living area for Comparable Sale 2, but ISC records in Respondent's work file show6,261 square feet, MLS records in the work file report 6,101

    I

    square feet, and Palm Beach County Property Appraiser's records show 7,504 square feet;


  7. Respondent reported 4,438 square fe t ofgross living area for Comparable Sale 3, while ISC records in Respondent's wqrk file showed 5,213 square feet and Property Appraiser's records show 4,389 square feet.

9. Respondent was interviewed concerning the Cost Approach discrepancies between the


two reports and stated that an unknown sales agent for the builder advised Respondent his per square

!

foot reproduction cost was too lo'Y, that the site value increased with the increase in sales in the new development, and the $10,000 increase under "appliances" was for commencement of pool construction by the Subject Property's owner.

'. I 0. Respondent acknowledged in the interview that the _error in Report 1 regarding a non-


ADiM.INlSTRATIVE COMPL.A!Nt

EXHIBIT # a{- -------=---=

PAGE      /-.;J             ,',).C

·-··-·--·-·-=-•-=-

FDBPR v. Gerald W Rowley Administrative Complaint

Case No.2007013479


existent prior sale was due to a "cloning" error from an earlier, unrelated report.


COUNT!


Based upon the foregoing, Respondent is guilty of having failed to exercise reasonable diligence in developing an appraisal report in violation of Section 475.624(15), Florida Statutes.

COUNT II


Based upon the foregoing, Respondent is guilty of failure to retain records for at least five years of any contracts engaging the appraiser's services, appraisal reports, and supporting data assem.bled and formulated by the appraiser in preparing appraisal reports in violation of Section 475.629,. Florida Statutes, and, therefore, in violation of Section 475.624(4), Florida Statutes.

COUNT III


Based upon the foregoing, Respondent has violated a standard for the development or communication of a real estate appraisal, specifically Record Keeping Section of the Ethics Rule, or other provision of the Uniform Standards of Professional Appraisal Practice (2005) in violation of Sectiob 475.624(14), Florida Statutes.

COUNT IV


Based upon the foregoing, Respondent has ,violated a standard for the development or communication of a real estate appraisal, specifically Standards Rule 1-1(a), (b), and (c), or other provision of the Uniform Standards of Professional Appraisal Practice (2005) in violation of Section 475.624(14), Florida Statutes.

COUNTY


Based upon the foregoing, Respondent has violated a standard for the development or


6 ADMINISTRATIVE COMPLA!Nl

EXHIBIT #f4----- --

P.AGE_

LlI ·

'.-- OF                

FDBPR v. Gerald W. Rowley Administrative Complaint

Case No 20070 I 3479


communication of a real estate appraisal, specifically Standards Rule l-4(a) and (b), or other provision of the Uniform Standards of Professional Appraisal Practice (2005) in violation of Section 475.624(14), Florida Statutes.

COUNT VI


Based upon the foregoing, Respondent has violated a standard for the development or comr'nupication of a real estate appraisal, specifically Standards Rule I-6(a), or other provision of the Uniform Standards of Professional Appraisal Practice (2005) in violation of Section 475.624(14), Florida Statutes.

COUNT VII


Based upon the foregoing, Respondent has violated a standard for the development or communication of a real estate appraisal, specifically Standards Rule 2-l(a) and (b),or other provision of the Uniform Standards of Professional Appraisal Practice (2005) in violation of Section 475.624(14), Florida Statutes.

COUNT VIII


Based upon the foregoing, Respondent has violated a standard for the development or communication of a real estate appraisal, specifically Standards Rule 2-2(b)(viii), or other provision of the Uniform Standards of Professional Appraisal Practice (2005) in violation of Section

475.624(14), Florida Statutes.

, I


COUNT IX


Based upon the foregoing, Respondent has violated a standard for the development or communication of a real estate appraisal, specifically Standards Rule 2-3, or other provision of the

7

ADiMINlSTRATIVE COMPLAINT

EXHIBIT #d ==

PAGE 1 OF

FDBPR v. Gerald W. Rowley Administrative Complaint

Case No. 2007013479


Uniform Standards of Professional Appraisal Practice (2005) in violation of Section 475.624(14), Florida Statutes.

WHEREFORE, Petitioner respectfully requests the Florida Real Estate Appraisal Board, or


the Department of Business and Professional Regulation, as may be appropriate, to issue a Final Order as final agency action finding the Respondent(s) guilty as charged. The penalties which may be imposed for violation(s) of Chapter 475 of the Florida Statutes, depending upon the severity of the offense(s), include: revocation of the license, registration, or certificate; suspension of the license, regist:r tion or certificate for a period not to exceed ten ( I 0) years; imposition of an administrative

fine of up to $5,000 for each count or offense; imposition of investigative costs; issuance of a reprimand; imposition of probation subject to terms including, but not limited to, requiring the licensee, registrant, or certificate holder to complete and pass additional appraisal education courses; publication, or any combination of the foregoing which may apply. See Section 475.624, Florida Statutes and Rule 61J1-8.002, Florida Administrative Code. The penalties which may be imposed

for violation(s) of Chapter 455 of the Florida Statutes, depending upon the severity of the offense(s),

I •


include: revocation of the license, registration, or certificate; suspension of the license, registration, or certificate for a period not to exc ed ten ( I 0) years; imposition of an administrative fine of up to

, $5,000 for each count or offense; imposition of investigative costs; issuance of a reprimand; imposition of probation subject to terms including, but not limited to, requiring the licensee, registrant, or certificate holder to complete and pass additional appraisal education courses;

publication; restriction of practice; injunctive or mandamus relief; imposition of a cease and desist

I


order;.or any combination of the foregoing which may apply. Se Section 455.227, Fla. Statutes and


ADMIN\STRATIVE COMPLAINT EXHIBIT #- .:..-.---- .;.;..;,.;::.-.::-•·',;/U'·' =

PAGE

11

UF          _

FDBPR v. Gerald W. Rowley Administrative Complaint

Case No. 2007013479


Florida Administrative Code Rule 61Jl-8.002.· SIGNED this 3_ day of f(\.a..J:Q ,1


, 2008.


Florida Department of Business a d ) Professional Regulation

Thomas O'Bryant, Jr., Director Division of Real Estate


.

-i,,.-r;, l}-'

... ,_.r !

ATIORNEY FOR PETITIONER


D. C. Lindamood, Senior Attorney Fla. Bar No. 273694

Division of Real Estate Legal Section

400 W. Robinson Street, N801 Orlando, Florida 32801-1757

(407) 481-5632

(407) 317-7260 - FAX


PCP: JH/PA 3/08


NOTICE TO RESPONDENTS


PLEASE BE ADVISED that mediation under Section 120.573 of the Florida Statutes, is not available for administrative disputes involving this type of agency action.


PLEASE BE FURTHER ADVISED that pursuant to this Administrative Complaintyou may request, within the time allowed by law, a hearing to be conducted in this matter in accordance with Sections 120.569 and 120.57 of the Florida Statutes; that you have the right, at your option and expense, to be represented by counsel or other qualified representative in this matter; and that you have the right, at your option and expense, to take testimony, to call and cross-examine witnesses, and to have subpoena and subpoena duces


9

AL)IVIINIS.l RA l iVt. CUIVl,fLAilfL

EXHIBIT #:;,,:L ====--

MGE tq OF _

FDBPR v. Gerald W. Rowley Administrative Complaint

Case No 2007013479


tecum issued on your behalf if a formal hearing is requested.


PLEASE BE FURTHER ADVISED that if you do not file an Election of Rights form or some other responsive pleading with the Petitioner within twenty-one (21) days of receipt of this Administrative Complaint, the Petitioner will file with the Florida Real Estate Appraisal Board a motion requesting an informal hearing .and entry of an appropriate Final Order which may result in the suspension or revocation of your real estate license or registration. Please see the enclosed Explanation of Rights and Election of Rights form.


ADM.INISTRATIVE COMPL.A.IN'f)

EXHIBIT -#. ;::1. ,_

PAGE ;}...o OF                          





APPRAISAL REPORT

of

Single r-am,ly Residence al 10766 VERSAILLES BLVD WELLINGTON, FL


As Of:


APRIL 23, 2005


Prepared For:


Pnvate Lender

Private Lende,


Prepared By:

SERVICE APPRAISALS

Gerald Rowley 1901 SW 5 AVE

MIAMI, FL 33129


p,UIVIINiSl RA.I ,v\:. t.:u1vl,t-'U.,\NT Exhibit y t/

p

EXH,BIT #  I                    


-

·-

,_ I l ll-

,n.J-i;;;

.. .. -.-,,,..- r't"l\\iiPI All'\l·M·

------====-

AIJIv'\ I NI::, l ./-' \ I IV I.., '"' ·••1•

EXHIBIT #. !:;;)::'1-.

PAGE .;)., I OF



SERVICE APPRAISALS

File No RF-0448-05

P,o ~omnnhon UNIFORM RESIDENTIAL APPRAISAL REPORT  Case No                                             P,--.. Address 10766 VERSAILLES  BLVD CdWELLINGTON Stale FL Zin Code 33467

L"" DesamI00 LOT 2B4 VERSAILLES PUD CounI PALM BEACH

A.ssessa<'s Patee! No 73-41-44-24-05-000-2840 ASSD $667 273 Ta, Year 2004 RE  Ta,es \ ,-5 D67 23    alAssessmen S N/A Sorrower •.ENZER BURTON Curren1Gwre, LENZER BUIHON -anl IX !Owner I ITcnanl I IVaca,I

., Pr-,oohlS aoorar.;ed IX   !Fee &mole lLeaschold Proec1 T•   IX  fPUO Condo, mnvm 1HUDNA onhrl HOAS   358   00 /Mo

  Nenhborfloodo,P,~  Name                         VERSAILLES     PUD Ma•Relerence 44-41-24 Census Traci 62 030

Sale Pnce $ REFINANCE Daleol Sole NIA Descnnhoo and$ afTl(Xlntol loanchamcs/concess()fls to be naid bv sellef N/A

Lender/Client Pnvale Lender Address Private Lender

••-aiser Gerald Rowlev Address 1901 SW 5AVE MIAMI FL 33129

LocalK>n i.- Urban Subu,ban i- Rural Predominant S llf;iim,ly ho Pn:$trtlnfuse% Land use change

Bu1llup Over75% ,_ 25-75'1, _ Undef25% occupam;;y S(OOOI ('fl\l Onelamdy ------2,L (K]Nolbkely 0Ltkety

Growth rate i-- Rapid Stable _ Slow Owner Low _L 2-41amdy _Q      Otnprocess

Property values 1-- lncreasmg Stable _ Decflmng Tenail 375 H1nh 35 lb farmly ---t-T o ,

Demand.'suppty i- Shor1age In b.Jlance Ove, supply Vacant (0,5%} 1.._ 1 Predommant I ; .. Commeroa1    

Man;er ,me Under3moo X 36mos Qve,6rnos ,_,..,,,., 260-3-451 20

Note rac;e and the racial composrt1on of the ne,ghborhood are not apl)fal5al factors

5 -+ t

  • .Ne,ghborhoodborrnda"esanddlaractemhcs fOREST HILL BLVD (NORTH) JOG ROAD (EAST) HYPOLUXO RD (SOUTH) & 150 AVE (WE _TL

  • TYPDWELLINGS ARE 1 & 2 STY CB STUCCO SINGLE FAMILY RESIDENCES VILLAS & TOWNHOUSES

    FaclOfs 1h31 affeci !he mal1':.alabllcty ol lhe properties Ill lhe neighbolhood (proumrty to employment and amenilles emptoyment slabihty, appeal lo marltet etc J

    THE NEIGHBORHOOD HAS AVERAGE TO GOOD PROXIMITY TO SHOPPING SERVICES & A REGIONAL MALL THE WELLINGTON GREEN MALL LOCATED WITHIN THE NEIGHBORHOOD THE WELLINGTON MEDICAL CENTER IS LOCATED JUST NORTH OF FOREST HILL BLVD INTERSTATE 95 IS LOCATED 6 5 MILES EAST. THE RONALD REAGAN TURNPIKE IS LOCATED 1 i.,ILE EAST EMPLOYMENT CENTERS ARE IN REASONABLE PROXIMITY RESIDENCES HAVE GOOD TO

    EXCELLENT APPEAL TO THE MARKET

    Ma el condIhons m lhe sub,ect neighbomood (mclvdrng support for the above conCluslOlls related to lhe trend of p1operIy >Jalues, demand/supply and marketing lime

    -- such as data on compet11Ive properties lor sale m lhe ne19hbo1ooocl descuption ol lhe prevatence of sates and financing coocesslOfls elc )

    VALUES HAVE REMAINED REI.ATIVELY STABLE DUE TO DEMAND FOR HOUSING IN THE WELLINGTON VICINITY DISCOUNTS BUYOOWNS AND CONCESSIONS ARE NOT PREVALENT AND HAVE LITTLE IMPACT ON VALUE TYPICAL FINANCING IS CASH FHA & CONVENTIONAL FINANCING MARKETING TIME FOR COMPETITIVE PROPERTIES HAS

    BEEN AVERAGING THREE TO SIX MONTHS


    ProJOct lnlormatJOn !or PUDs (II OIJl)licable - Is \he developer.lxl1kler rn control of lhe Home 0wne(s Assooahon (HOA)? L ..J Yes LJ No Apprcmmate total number of urnls en lhe subjod prQfeCl. 456 Applox1ma1e total number of units lor sale in the subIectp,o,ecl 13 E Descnbe convnon elemenb and recrcawnat laoht.,, COMMUNITY POOL CLUBHOUSE 24 HR MANNED GUARD GATE COMMON AREAS

    O

    Dimensions IRREGULAR !SUBJECT TO SURVEY! Topography -"L=EV=-E"'L=-- = 1

    H LJ LJ

    Siearea 12 632   SF Come, Lot Yes [KlNo Srze TYPICAL  OF  AREA Speaficzon119dassd,:ahonanddescnptlOll PUO, PLANNED UNIT DEVELOPMENT Shape IR,,R'=E'=G"'""Uc"LA'""'R'===== l

    Zonrng compliance [Kl Legai Legal noncool "9 (Grandlalhered use) Illegal No Zoning Oramage APPEARS ADEOUATE

    Hchesl & bes!use as 1mnrovefxlPfesent use I !Other use Ie.1.n1ainI View =LA K E/R E S ID ------

    Uulrties ,: P 1, 0th8f Ot1s11&lmp1ovements Type Pu Pfiv e Landscaping TYPICAL OF AREA

    Elecinc1ly SX, F P L S•ecl ASPHALT _ Onveway Surlace _P_A_V=E_R S ,

    Gas. BOTTLE Curblgullcr CONCRETE/GUTTER _ Apparent easemen U T IL l T Y-..,...-,---,.,.,., 1

    Watet, CITY Srdewalk CONCRETE _ FEMASpec,atFloodHazardArea LJYes l1$jNo

    San<arysewer X S•eell hls ONFIBERGLASSPOLES _ FEMAZone B MapOalo 02/01/1979 Slormsewer X  e.r NONE ·- FEMAMa"No 120192 0170A

    Commenls (appatent adverse easements, ericroachmenls speaal assessmenls sbde areas, Illegal a, legal nor.conforming zonrng 1.11e etc) NO UNUSUAL OR UNFAVORABLE ADVERSE EASEMENTS, ENCROACHMENTS OR CONDITIONS WERE OBSERVED EASEMENTS ARE THOSE OF PUBLIC RECORD TYPICAL OF UTILITIES NO SURVEY PROVIDED APPRAISER

    GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT

    No of Unrls ONE Foundat,on Reinf Cnc Slab MONOLITHIC Afea Sq Fl No of Stones TWO E,;1e110J Walls C Blk StUCC' Cta'M Space NONE % F1rushed Typc(Oet/Att) DETACHED RoclSurlaces Cone Trle Basement NONE Ce,•ng Oes9n (Slyle) 2 STY Guller, & DwnsplS SIDES Sump Pump NONE Wans E,.,s\lng/Proposed EXISTING Window Type SIN HUNG Oarnpness NONE NOTE! Floor

    • (Yrs I 2003/21 S!orm/Saeens SCREENS Setllement NONE NOTE! OulSlde Enlry

Effedlve' e1Yr,;1 EFF 1 ManufacturedHouse NO lnlesl>l1on NONE NOTEf OF SO

        0      ' :LATIO ODE ;

NIA Cedmg CODE X

NIA Wais CODE

BSEMNTS floor CODE ARE NOT None ---

TYPICAL Unlmow" UKN X

FLORIDA

ROOMS

Basement

Level 1

i Le,el2

Fover


X

ll""'" 01n111n

K1lchcn

Oen Farrutv Rm

Rec Rm


SITTING

Bed,ooms # Baths


3 50

3 00

LaunrYV

Olher


STUOV TtiEATEI

Arca Sa Ft

0

384B

1 860

  • FUlcShedarea above madeoontillns 10 Rocms 5 Bedr-- 15\ 6 50

INTERIOR Malenals/Cond1lron HEATING KITCHEN EOU!!'._ ATTIC ·-


AMENITIES

5 708


uare Feet of Gross I.Moo Alea

CAR STORAGE


AOMIN!STRATIVE COM.PLAINT.

Floors Marble/1/Vd /Camt /GI Type Refr era\or None Walls DRYWALL/GOOD Fuel ELECT Range/Oven S!..-s Tnnvfmish WOOD/GOOD Cond1lon GOOD Disposal Drop Sta, Ba\h Floor MARBLE/GOOD COOi iNG Oishwasher Scuttle

Ba!hWamsoot MARBLE/GOOD Cenlral ....!:ff_ Fan/Hood Floor

lloOB souowo COREEXT Othet t.+crowave Healed

HOLLOW WD CORE INT /GD Condrtron GOOD Washer/Or-, X FmlShed

,_

,_

,_

,_

Frreplace(s) # NONE : Paho REAR X

l

Deck ·-NONE '"'"

Porth REAR

Fenai NONE

Pool ,_

CVRD ENTRY "l(

None D

Garage 3 # ol"'"

Allached 3 CAR

Oelached

illllllln

Carpo11

Or PAVERS

t_X H ! 8 l T # (


Add>booal features fspeool eneryye aent ,terns. elc) =S-=E=E-=C..,O,,.M"'M;;;E:cNc:.T-'--'-'A"'D-"0-'=E'-'N-"D-"U'-'M,                                                                         _j

-;'7/,:;.-';---------------tllJlr,:Con::-;d,::lron--:of;-;lhe::-unpro::-.,.::me:-.nts::,--:rlep-,ec,-:a\rO_.n..( ...ph..y.s-cal-,-lu;-nct--:-,ona-:l-and-,-e..x.\or_n_a..l.). ,ep-,.-,---.,.-,•-q-ua..l.,-ly-o.l.o. ons-,-,u-r:t_,on_re_model"91_add_l\rO/r_s.:_e_lc_N_O_F_U_N_C_T_I_D_N A_L _j

            0 F INADEQUACIES WERE NOTED UPON INSPECTION OF PROPERTY NOR ANY EXTERNAL INAOEOUACIES OBSERVED UPON

EXAMINATION OF SITE WHICH WOULD ADVERSELY AFFECT THE MARKETABILITY OF THE SUBJECT SUBJECT IS EXCELLENT

  • QUALITY CONSTRUCTION & IS CONSIDERED TO BE IN EXCELLENT CONDITION

Adverse environmental conti\lons (such as, but not imrted 10 halardous wastes. loxic subslanc:e$, etc) prcscr1t In the rnpr cmen .- on the site,o m th.CT od1ate JI.C'TIA.

oflhesubtedproperr NO    ADVERSE  ENVIRONMENTAL  CONDITIONS  WERE  NOTE0,l:JP.0N'EMl..!INATl0ITT:WSITE (A. ,_

IMPROVEMENTS.OR WITHIN,THE SUBJECT'S IMME0I/.IJ"El'(/IClt.lTY ' ''"    •. V -     

Fredd,e Mac F01m 706 93 Cl,ci<FDRMS Appra,sEXHi13\T2-B#....!2?J..- F an n=,e Ma=•:.For::,m;;_;;Hl:;,04(:;;6;,·93:;.:l_,.;P,,;;aga?.e-=-=='of". l=§,,


PAGE -- ---·-··CF --·-··----- -----



Valuation Sccuon

SERVICE APPRAISALS

UNIFORM RESIDENTIAL APPRAISAL REPORT


File No RF-0448-05

Case No

ESTIMATED SITE VALUE                                  = S --- 57 5 ,0 0'-"C Comments on Co,! Approach (such as source of cost estimate, srievalue, ESTIMATED REPRCoUCTION COST NEW-OF IMPROVEMENTS squaseloot calculat10n and for HUD VA and FmHA lhc estimated1emam1ng 0wenmg Sq FL@$ •$ 884 740 ecooonucllleolthep,operty) SEE ATTACHED SKETCH & Bsmt O Sq Ft@!               , 0 ADOENOUMFORDIMENSIONSANDCALCULATIONS KIT APPL'SIPATtO/PORCf-t/CVRO ENTRY, 25 500 OF LIVAOLF. AREA RASE COST TO REPRODUCE

Gaiaoo'C..,,0,, -1!i_ Sq Ft @ $ • 32,487 ASSUMES EXCELLENT QUALITY CONSTRUCTION

Total Esbmalcd Cost New , I 942 727 AND DESIGN AS REFERENCED BY MARSHALL &

less. Physical 1 54IF n t1 n;;i_- ·re,ternal SWIFT RESIDENTIAL COST HANDBOOK THERE IS OcP!cc,atoon 14 518 j O O •I 14 51E NO FUNCTIONAL OR EXTERNAL OBSOLESCENCE           

Ocp,eaalcd V;m,e ol lmp,ovcmen   .                     ., I 928 20 ATTRIBUTABLE T E L = 65 YEARS                                        

"As IS" Vatue ol Site Improvements             . _ _ _ -:: S ---c-'3,.,5 0,.,0"'l---------,,...,.. 1

INOICATEO VALUE BY COST APPROACH - - - - - - - , I 1 538 20 Est Remaon1no Eoon lde 64

ITEM I SUBJECT COMPARABLE NO I COMPARABLE NO 2

10766 VERSAILLES BLVD 3524 TURENNE WAY 3521 MABILLON WAY Addiess WELLINGTON FL WELLINGTON, FL WELLINGTON Fl.

Pro:umlly 10 Sub1ect ,-.a:1-!:.r-: · .").2)11fli.'l:"X>l;i 0 94 Ml NNW 1 3 Ml NW

Sale,Pr<e. $ REFINANCE ,, 1340106 •= Y. 1,597,592

Pnce/G1os, Lov /vea $ . O 00 • 0 $ 240 59 , ' S 281 76 .-1 S

Data and/of•.· PUB RECORDS

VenficallooSou1ce   'PERS  INSPECT ISC/PUBLIC RECORDS !SC/PUBLIC RECORDS

       tADJUST         PTI    DESCR!f_fl_Q _+II Adjustment DESCRIPTION :{_ISAdouslment Sales o, F1nanong CONVENTIONAL CONVENTIONAL

Coocess""1s MTG $800 000 MTG $1 000 ODO

"'COMPARABLE NO J

2520 FAIRWAY ISLAND WELLINGTON. FL

2 BMI N

,. f 1,500 000

767 66


!SC/PUBLIC RECORDS/MLS

DESCRIPTION .J "Ad"slmenl CASH TO

SELLER

Date o1Sale/1,me , DEC  2004 NOV 2004 ' APRIL 2005 Location EXCL /RESID EXCL /RESID EXCL /RESID EXCL IRESID Leasehold/FeeSJmoo FEE SIMPLE FEE SIMPLE FEE SIMPLE FEE SIMPLE Sile 12632SF 20473SF -1570( 17859SF -1050C 31 J6JSF V.ew LAKE/RESID CANAL/RESIO +5 00( LAKE/RESID PONO/RE SID Oes10n and An-at 2 STY /EXCL 2 STY /EXCL 2 STY IEXCL RANCH/EXCL

Oua•tvotCons•Udoon CBS/EXCL CBS/EXCL CBS/EXCL CBS/EXCL Aoe 200J(2la/EFF 1e 1997 INF EFF +5 OOC 1997 INF EFF +5 OOC 1989 SIM EFF Cond1bon EXCELLENT EXCELLENT EXCELLENT GOOD

AboveGlade TOia! IBdrmsl Baths IOlallBdnnsf Baths Totalla,,,.,d Baths T01a1IBd1msl Balhs RoomCoonl 10 I 5 I 650 ·9 I 3 I 200 +3150 9--1 3 I 200 +3150 9 I 4 I 550

_


-37 500

+10 000


+5 000

t5 000


+7 000

G1os, L, ng/vea      

- 708    Ft 5 570 So Ft +7 60 5 670 So Ft +2 101 5 121 So Ft

+32 300

Basement Honl5!led N/A N/A N/A N/A

Rooms Below G1ade N/A NIA NIA N/A

FuncbOnalUtoldv AVF.RAGF. AVERAGE AVERAGE AV=E'='RAc,=G E'-'C""t 1

HeatJnn/Coohnn CENTRAL NC CENTRAL NC CENTRAL NC CENTRAL NC

Ene,ov EW=nt hems NONE SPECIAL NONE SPECIAL NONE SPECIAL NONE SPECIAL

  • Ga,Me/Ca,""'1 3 CAR GARAGE 2 CAR GARAGE +5 OOC 4 CAR GARAGE -5 QOC 2 CAR GARAGE Porch, Patio Deck R PATIOIR PORCH R Pa11o/Prch R Patio/Porch R Patio/Porch F,eotacetst e1e CVRD ENTRY CVRD ENTRY CVRD ENTRY CVRD ENTRY Fence Pool etc NONE POOL -12 OOC POOL --12 OOC POOL

EQUIPMENT -UPGRADE +50 OOC UPGRADES INF UPGRADE NetAdrltOlall :1+ I I- $ 76400 IXI+ I 1- $ 11100 IXI+ I 1- $

Ad1u.ted Sales Pnce 6%      _J Nel=1% I Net=3% I

olComoarable ,;;a%-) 1416506 Gross=4%       - 1608692 ,:;;-.;-;;.;9%-&

Comments on Sales Companson (mdu ng lhc subjecl p,opc y s oompalob1ity lo tha neghbo!hood etc) SEE COMMEN f ADDENDUM

+5 000


-12 000

+25 000

39,800


1539,800



. ITEM SUBJECT. I COMPARABlE NO 1 I_ COMPARABLE NO 2

Date. Price and Data .SEE SALES NO PRIOR SALE WITHIN NO PRIOR SALE WITHIN

Sou1ce. loq,110, sates . · HISTORY 12 MONTHS 12 MONTHS

with'1 ,ea, ola,,.,,.,.,;. · ADDENDUM ISC/PUB RECORDS ISC/PUB RECORDS


1 COMPARABLE NO 3

NO PRIOR SALE WITHIN 12 MONTHS

ISCIPUB RECORDS


1 M,PLAIN"'[

,_, I) j\,nI 1\J 'S.,..PATIV c C Q

n ' I I•' '-

May51S of any rurrenl agreemefl1 of s.ale. oP'ICJl ot ks1ng a' the subfed propeoy and anatysis of .J1y pno, sacs of sut>Jed and comparables wihin one year ot the dale of at.Sal

NO CURRENT AGREEMENT OF SALE OPTION. OR LISTING OF THE SUBJECT OR THE SALE COMPARABLES WERE

UNCOVERED THE SALES ARE CONSIDERED TO BE CASH EQUIVALENT

INOICATEO VALUE BY SALES COMPARISON APPROACH                                                                       I 1 530 000  

INDICATED VALUE BY INCOME APPROACH IU Anrlx:ablel Eslmated Maf\;et RCf1l $ N/A /Mo, G1oss Ren! Mulboi,er =$ N/A Th,s appra,sa\ • made l2SJ"as ,s" LJsubjOd lo the '""""·alle,alrOns aupeciions 01oondltrons Isled below LJsub1ed tocompletooo per plans and speafx:atoons Cond,UOnsolApp,a,sal APPRAISED VALUE IS BASED ON THE CONDITIONS & FEATURES OF THE SUBJECT AT THE TIME

OF INSPECTION ALSO SEE LIMITING CONDITIONS ALL SALES ARE CONSIDERED CASH EQUIVALENT F"aJReooncdlallon ""INCOME APPROACH NOT USED DUE TO PREDOMINANT OWNER OCCUPANCY AND I.ACK OF QUALITY RENTAL DATA THE SALES COMPARISON ANALYSIS IS GIVEN PRIMARY EMPHASIS AS IT BEST REFLECTS CURRENT BUYER/SELLER ACTIONS IN THE MARKETPLACE THE COST APPROACH SUPPORTS

; The purpose of !hrs 8Pl)fa1sal 1s to esl1mate the mar\.el value of the real prC>pef1y tha1 rs sub,ecl to !his repon based on the above conditions and the certiflcat,on, contmgenl

J1 . J

and hml"'1g oondltrons, and marl<et value defin!llon lh_al ase si.lcd mlhe atladled Frcdd,e Mac Forn, I39/Fanme Mae Fo,m 10048 (Revosed 6/93 ) l(WE)ESTIMATETHEMARKETVALUE,ASDEFINEO,OFTHEREALPROPERTYTHATISTHESVBJECTOFTHISREPORT,ASDF APRIL 23 2005

;_-:_ '.·',1-l JR.T1,

.

#- /

(WHICHIS THE DATE OF'PlNSP.'TION ANO THEEFFECTIVEDAT OfTHIS REPORT)TO BE$ 1530000

APPRAISER ' /) /) _ SUPERVISORY APPRAISER (ONLY IF REQUIRED)

...,.

  --------:---------MSqnalure , A- I f b.fil/l)i, ' SagnalUre

1

nr-.k,LidDld l]JDJd JI

,,.

.. 7

Name G e, ... • - .:r Nasne     .. .,,,.s<.::Tl-,'.!,\ I IYt:. v v -.V 1 ".,. l;ec1Propet1y

- '-•·:. -•-·-·------ ...                                         DaleReportSlgncd APRle23,2005 ·C/ Oai/,'Ren1\,\'sJ.Ae\i••..., ' ,.

State Cerufocahon # RZ967 Stale FL               " I State r- _

o, Slate Locense # Stat, o, Slate•l I I ::it" , Stile f- _..

B-2

F1cddoe Mac Fo,m 70 6-93 Chcl<FORMS Appraisal Solt\varc8 22-8727 Fann,e Mae Fo,m('.ft:)6-93) Page 2 ol 16

PAGE



Bonower LENZER BURTON

SERVICE APPRAISALS EXTRA COMPARABLES 4-5-6


File No RF-0448-05

Case No

e,,rty Add•css 107::.6::.6'-'V-'-E-"R"-S'-A-I_L_L E-S B-L-V D-------------------------

Coly WELLINGTON County PALM BEACH State FL Zip Code      33467         

Lender!Cllent Private Lender Add1ess Pnvate LenQ.e"''----------------


ub "re s . 1 kl l ad: n iu :!de;,'1hu; ,e :, o:, c; 31 ':i'edt :dol os rc1 a

Then recent ules ol propef11es are mo" s1m1ta1 and p1oumale lo subJetl and have been considered 1n !he markel analy:11:i fhe dese11phon includes a dol'.la, adJuslmcnl 1elloc:hng m<Hkel reacbon to lhose items ol signir1cant v1111Nhoo belwee,, lhe sub1oci and comp11rable properbes II a 1119R1f1 nl item in the compateble p1operty 11 supenor lo or mo1e lav01nble

  • ) 11 s19n1!1canl 1tom II\ lhe comparabto IS 1nleo01 lo Of 10$$ ISVOfable ll\an, lhe

ITEM SUBJECT COMPARABLE NO 4 COMPARABLE NO 5 COMPARABLE NO 6 10766 VERSAILLES BLVD 3540 AMBASSADOR DR

Address WELLINGTON FL WELLINGTON FL

Pro,,m,lv lo Sohoeci

Sales P11ce


$ REFINANCE

we·

36MIWNW

1,650 000

...... , ,1

.. ! s

Pnce/Gross Liv Area

0ataand/or

0 00 111 I

PUB RECORDS

245 72 111

I t'IJIJ1'11L"1.i -'• s Y-J.•.fj m

'

VenficallOll Source

VALUE ADJUSTMENTS

Sales o, Ftnancmg

ConcessKJOS

Date ol Salelf,me

PERS INSPECT !SC PUBLIC RECORDS/MLS

DESCRIPTION ..11$Ac1nt<; en1

CASH TO SELLER JUNE 2004


DESCRIPTION ./.ltMustmenl


DESCRIPTION ./-llAd<ustmenl

LocalJon

Leasehold/ Fee Sunole

S.10 ,.

v.,. •·

EXCL IRESID FEE SIMPLE 12 632 SF LAKEIRESID

EXCL/RESID FEE SIMPLE 22 650 SF LAKEIRESID


-20 ooc

Jl:<!!,gnand_flloeal 2 STY IEXCL RANCHIEXCL

OuahtvofConstrucl!Oo

Ano Cond1!100

CBSIEXCL 2003(2)a/EFF le EXCELLENT

CBSIEXCL 2003 SIM EFF EXCELLENT

Above Grade

Tolal I Bdrm Baths To<atl Bd,mJ Baths

T01a1I BdrmJ Bah

To1all Bcl-md Baths

  • Room Coonl

Gross l..Jvino Ase.a Basement & finished Rooms B- Grade Ftmcbonal Utd1tx Heahna/COOina

10 I 5 I 6'50

5 708 Sn fl

NIA

NIA AVERAGE CENTRAL NC

9141550 +7 oor

6 715 Sn Fl -55 40C NIA

NIA AVERAGE CENTRAL NC

  1. I

    Sn Fl

    I I

    So Fl

    frw>mv Effiaenl llcms

    Gaf-eJCa,IWI

    NONE SPECIAL NONE SPECIAL 3CAR GARAGE 3CARGARAGF

    POldl, PalKI Deel.

    Fir....lacelsi etc

    R PATIOIR PORCH CVRD ENTRY

    R Paloo/Porch

    POOUSPA


    -15 0OI

    Fence Pool e1c

    NONE . FNCD REAR

    ·2,00<

    EQUIPMENT

    Nel Ad1 llol I Ad1usted Sales Price ofC001oa1able

    UPGRADES

    UPGRADES

    I I• [Xl- $ -85 400

    Nel=-5%C '

    IG,oss , S 1 564 600

    IXl+ l 1. -.

    Net= 0% ·1

    Gross::.Q.!!..._ _. It


    0 IXI+ I J., 0

    Net= 0% ·J,

    0 Gross= 0°.-4 - S 0


    Comments on Comparab\es                                                                                                                                                                                                           

    --

    ITEM SUBJECT COMPARABlE NO 4 COMPARABLE NO 5 1_ COMPARABLE NO ey ,

    Date, Pnce i;W!d Data Soc.J1ce, tor J:J"IOf iales W1lh1n vear of aooraisal

    SEE SALES HISTORY ADDENDUM

    NO PRIOR SALE WITHIN 12 MONTHS

    !SC/PUB RECORDS


    '



    .TiVE COMPLAINli

    l


    "i.

    ·., I

    :·.•


    .


    /\I )h/1I1\.ill..::Tl::;,'.l- 11\/1-, :t 11v1,l"'LAii'-lu r-7-

    ., .

    i ·• -·--.•


    .. Cl1cl<FORMS Appra,sal'SottwareBOO- 2-8727 p 3 al 16

    EXHIBIT #- d1 "9"===="""'""

    PAGE . ;;_ t.f OF


    SERVICE APPRAISALS

    COMMENT ADDENDUM

    File No RF-0448-05

    Case No

    Borrower LENZER BURTON                                                                                                PropenyAcldress 10766 VERSAILLES BLVD                                                                       c,Iy WE LINGTON Counly       PALM BEACH             Sla1e        FL                ZmCodc     33467       lender/Chen\ Pnvate Lender· Address Private Lender


    ADDITIONAL FEATURES Oakwood banister and steps, sauna, home theater on second floor, recreallon room on second floor, marble flooring throughout the first floor, marble flooring and wainscots in bathrooms, high end f1xlures and hardward throughout, lake front property, granite tile countertops and backsplash In kitchen, 42" wood custom cabinets in kitchen, recessed l,ghllng throughout, 3 car garage, rear porch and pat10 area, tray ce,hng and s1tting·room m master bedroom suite, wood vanities and granite vanity tops in bathrooms. inground sprinkler system There Is watt to watt Berber carpeting in lhe bedrooms The house extenor Is painted concrete block stucc;o There Is a full sized washer and dryer in the laundry room The house has central air

    cond1t1oning The subJect Is considered to be in excellent cond1t1on


    COMMENTS ON COST APPROACH Estimated Site Value was abstracted from recent improved sales ,n the subiecl's area High land to value rallo Is typical of the area due to demand for housing in this secllon of Wellington This factor does not adversely affect the marketability of the subJect


    DEFERRED MAINTENANCE None noted at time of inspection


    COMMENTS ON THE SALES COMPARISON APPROACH The comparables were adJusted to the subIect's location, site area, s1te/vIew. age, condItIon, Sile of hv1ng area, car storage, and amenItIes The comparables used were tho best available wrth verifiable 1nformat1on Two of lhe comparables are located m the Versailles subd,v1s1on Comparables #3 and #4 are all located within the Wellington area The sales uncovered are s1m1lar to the subIect with regards to location, functional utility, quality of construct,on, total bedroom and bath count, appeal, lot Sile, community amenities, and size of l,ving area Equal emphasis given to all sales


    PERSONAL PROPERTY Personal property, 1nclud1ng those items which are not permanently attached/fixed to the real property, have been excluded from the esIImate of value unless indicated otherwise Examples of the aforementioned. include above ground swImmIng pools, countertop microwave ovens, movable dishwashers,

    T V salell1te dishes, and furniture



    AlJMINlSTRATiVE COM,PU\l.lf[

    EX'- IBIT # I

    - "':---.--,:----,+----=-->

    --

    AU.1\/lll\llSTRAflVE COMPLAINt

    EXHIBIT #..!::)::> =-t,:"""'

    PAGE d5" OF

    C13

    Cl,ckFORMS Appraisal sonware 800-622-8727 Page 4 ol 16


    SERVICE APPRAISALS

    SKETCH ADDENDUM File No RF-0448-05

    Case No

    Borrower   LENZER    BURTON                                                                                                                                                                                           Propet1,Add1ess 10766 VERSAILLES BLVD                                                                                                                                                             

    City WELLINGTON              County       PALM BEACH               Slate         FL         Z1pCOO€!      33467        

    Lender/Choo\ Prrvate  Lender Address Pnvatc Lender


    - - ··-


    -

    ,,

    21 S -

    I

    ' 5 BATH I

    0 '

    Fam,ly 'f!

    ROOM

    I

    · - - - - - - - 1


    12 O'                ,. 0           


    Patio

    ;or h- I


    s,tt,ng

    BRK b.                         '                 ROOM

    Nook


    33 0


    :;i

    Kitchen Sauna

    ,t,"'

    o,rnng c,"' LMNG Bath

    ROOM ROOM


    Bedroom


    Bedroom


    Laundry


    Foyer

    Study WIG

    Bath 23 5'

    215 I


    Three Car

    ;; Garage

    C..-d


    Ent,y

    Balh

    J 5 J 5

    ;,,

    12 5 N



    ,, 5

    First Floor


    .-. ....., ,,v..

    Cm-mats


    ,./ ..


    ·- I

    -

    Codo


    CAA



    AREA CALWAllCN3 ,SLMVARY

    LIVIN3 AREA BRl:AKIXMN

    B,cokdown Subtot•ls

    • 0 .

    3 1. .

    WU ru..t ,,_ 384?60

    P/P "'""' 120 00

    38'1 60

    t Yloor

    ' s

    .

    12 5

    31 25

    -= Jll 4l

    7U lS

    43l 4l

    114 15

    0 5 • J 2 .

    •• 0

    J 2

    25 5

    20 ?

    22 5

    5 06

    Bl 14

    1.14 13

    360 00

    -Description S1zv NO"I Total:;

    21 5 .K " 0


    1Q5 89

    .

    0 5 • 0 0 .

    .


    0 0

    .. 2


    0 10

    Z004 1)


    Ni     .:. _

    ADMlNlSTRATIVE COMPL 1-INT:

    '.H1GlT

    " 0

    .

    J l

    12 >

    10 0


    21 5

    ,. 5


    " 0

    70 95

    2tl ,s

    140 00 I

    '1·,i_-: Co

    ..... ...-....-JJ

    -- lOfAL LIVABI£ (rounded)

    ,. .... ti .,,.:>1J UJa!lc\lSJTfll..al( )l,PL AJ!MaTq(

    -·--...--•-·• " -

    1- ,I 11 I

    Cl1ckFORMS:f\A 1a,saleJ>l'1•re,0-622-Yf 7 Page 5 ol 16

    PAGE     OF                     



    SERVICE APPRAISALS

    SKETCH ADDENDUM


    File No RF-0448-05

    Case No

    Elom1Net LENZER BURTON                                                                                                                                                             

    Property Address 10766 VERSAILLES BLVD                                                                                                                                 

    9!L..\IYELLI_NGTON Counly PALM BEACH Slal•

    FL Z.pCode 33467

    s,Lender,,,,.a,l><Cl:,aien,.,lc_.:..P"'n-"va"'l:.:ec..:Lc,ec:.n:.:d:.:e.:..r                              A dd r es • } r.1'..'.'.v,,_at,.,ec..:Lc,ec:.n:.:de:e.:..r                                                   _


    Open to Below


    ,"' 90

                  ' 3 ".,'

    16(1

    Recreation

    ROOM

    C:#, "'

    Open to

    -Bedroom b

    Below


    b

    l)!

    :::               21 o·         

    6 5'

    Bath


    Bedroom


    Bath

    "'o

    b Bath Home

    "'

    N

    Theater

    16 er 27 O'

    b

    Bedroom


    11 5 6'0

    6(1


    Second Floor


    I

    I



    =

    1001 , N-



    CtA2


    5aclJnd Flonr l8596!il


    lBSlt 69


    LNII'G Afti\ Bfti\K!XWW

    Brealldown Subtotals

    'Afti\ CA[Ul.AT0-6.SUvM\RI''

    Code Cescnptton S1zo Net Totals

    .

    Seo:,rd Floor

    ..

    12 0

    0 5 • 12 0

    .

    0 5 • J 5

    J 5

    , 0 .

    ,".0'

  2. 5

  • 0


)11 82

.

.,......

•• 38

"'

I

31 73


I

.

0

' 5 5 .

.

.

..

J 5

O 5 • 8 I

.

11 .

"",5

lJ 5

145


I

61 ll

19 71

33 ..

,. SJ

LAIN1J


'

0 5 •

2 • .

'2..

,.00,

5.

8 l

0 5 .2 5 .. 2 5

"0 •• 0

' . • 0

... , 00

25 46

0 5 • 4 2·

16 5

.

--- ..

0 5 • • 2 .,2

"0

'00

  • 00

us so


lUfAt:LNAaE (rarded)

1800

, 1 . \'s"'?l'-T<!a. t(r ,. '/

1\

-

lll\.•l.'1 J l'lo,r"\,.i I 'II -

I :'} V·\,{.IllI

ChckFOl{MS Appra,sEXHi°BIT.22.ft2_7.l,d -----P-•ge--6-oi-.1=6 ,...,=

P.A.GI:. _:2,J_     . - r\-.­. ,.



SERVICE APPRAISALS

LOCATION MAP ADDENDUM File No RF-0448-05

Case No

Borr<7Ncr LENZER BURTON .                                                                                                                                                                                        

Property Address 10766 VERSAILLES BLVD                                                                                                                       

C11y WELLINGTON Counlv PALM BEACH Sla!e,

-'-F"-L

Za'P C od •--3 3'-'4""6-'-7  

Lender/Cltent   Pnvate Lender                                                   Address Private Lender                                                               



0 O<E'EI 108ff


,- ,     

"

u u, f?

      1. 0


        %

        • ,_

,

I

L

I c KE l


f'VROl

i

CRES'fNAVIIN


lOlH

>

L,l.


C'Vf.JI":•-,· !!: L

AD /!NiSTR.A,T!VE COMPLAINu

,_, .•• I - - -----------1,t.---


I son ON BEACH

If         102NO

  • ; .:.\ '_., :

...  _1::1o    ;_),-



i.-.P(C)l98 -2001 reu! ATLAS NA INC


ChckFORMS'Appraisai Software 800-622-87d Page 7 ol 1,•§. .,..

EXHIBIT# -

PA t=: --o!:'-:.---

r,I'.'.' =-


SERVICE APPRAISALS

SUBJECT PHOTO ADDENDUM ' File No RF-0448-05

Case No

Borrowc1 LENZER BURTON                                                                                                                                                       

Prope yAddress 10766 VERSAILLES BLVD                                                                                                                               

  Zip COde     33467        


FRONT OF

SUBJECT PROPERTY 10766 VERSAILLES BLVD WELLINGTON, FL


REAR OF

SUBJECT PROPERlY


STREET SCENE


#

ClickFORMS Appraisal Software 800-622-8727 Pag.!!,.,.A. of 16

EXHIBIT                                             

RAGE  tj OF


SERVICE APPRAISALS

SUBJECT PHOTO ADDENDUM File No RF-0448-05

Case No

Borrowe, LENZER BURTON                                                                                                                                                                                 

Propc,tyAddress 10766 VERSAILLES BLVD                                                                 

FL lg, Code      33467        


VIEW OF LAKE

FROM 2nd Floor


--

EXH!BIT # _ ,.


AUNlll\llSTRATIVE COM

:>LAI.NT tO;>


PAGE    OF                    


SERVICE APPRAISALS

COMPARABLES 1-2-3 Fife No RF-0448-05

Case No

Bcxrower LENZER  BURTON                                                                                                                                                                                  Property Addscss :.10766 VERSAILLES BLVD                                                                                                                                                     

c,,y WELLINGTON               County        PALM BEACH State FL Zip Code 33467

Lender/Chen! Pnvale Lender Address Private Lender                                             


COMPARABLE# 1

3524 TURENNE WAY WELLINGTON, FL


COMPARABLE # 2

3521 MABILLON WAY WELLINGTON, FL


COMPARABLE# 3

2520 FAIRWAY ISLAND WELLINGTON, Fl


;'-D:1,11 :N;STRAT!VE COMPLAINT;

:_ <!•I ·:";i I !      

[-"------------



                   OF


SERVICE APPRAISALS

COMPARABLES 4-5-6 File No RF-0448-05

Case No

Booowe, Ll;NZER BURTON                                                                                                                                                        

Property Address 10766 VERSAILLES BLVD                                                                                                                              

PALM BEACH FL               ltpCode     33467      


COMPARABLE # 4

3540 AMBASSADOR DR WELLINGTON, FL


COMPARABLE # 5


5 _3---1

1z

(,;7

#.;;.;..d_

AIJM!N!STR.ATIVE COMPU\!NT,

D:H8:

!T #--1/' 1+--

AUM\h'\ST,RATIVE COM l\J\\N"t

:,._· l

EXHIBIT

PAGE


SERVICE APPRAISALS

File No RF-0448-05

Case No


DEFINITION OF MARKET VALUE The mosl probable pnce which a properly should bnng in a compel1l1ve and open market under all cond1t10ns requ1s1le to a fatr sale. the buyer and seller each acting prudently, knowtedgeabty and assuming 1he pnce 1s not affected by undue stimulus lmphc1t 1n lh1s de1rmlion ,s lhe consummat1on of a safe as of a spec1f1ed dale and the passing of trlle trom seller lo buyer under cond111ons whereby (1) buyer and seller are typ,ca11y mohvaled, (2) bolh parties are well informed or well advised, and each aclmg 1n what he considers his own best interest,

(3) a reasonable time 1s allowed for exposure 10 the open man(et, (4) payment 1s made m terms of cash m U S dollars or in terms of financial arrangements comparable thereto and (5) the pnce reprcscnls the normal cons,deralton for the propcny sold unaffcclcd by special or creallvc financing or sales conccssIons· granted by anyone associated w•lh the sate


•AdJuslments 10 the comparables musl be made for special or creative r,nancmg or sales concessions No adJustmenls are necessary ror !hose costs which are normally paid by sellers as a resull of trad1t1on or law in a markel, lhese costs are readily 1dent1fiable smce lhe seller pays these cosls m vutually all sales lransacllons Special or creative fmancmg adIustments can be made to the comparable property by comparisons to financing lerms offered by a third party mshtuhonal lender that 1s not already involved en the property or 1ransact1on Any adjustment should nol be calculaled on a mechan,cal dollar for dollar cosl of the financing or concession bul the dolla1 dmounl of any ad1ustmenl should approximate 1he market's reaction to the financing or conccss,ons based on the appraiser's JUdgmcnl


STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION


CONTINGENT AND LIMITING CONDITIONS· The appraiser's cert,ficallon lhal appears ,n lhe appraisal report 1s

· b J, t to the fol owing con .1t1ons

1

  1. ,"The appra, er: will not be respons1ble for matte,s of a legal nature thal aHecl e1the the property being appraised or the 11Ue to ,t The _appratser assumes that the hlle Is good and marketable and, therefore will not render any opinions about lhe tttle The property 1s appra,sed on the basis or ,t being under 1espons1ble ownership


  2. The appraiser has provided a skclch m the appraisal reporl lo show approxImale dimensions of the improvements and lhe sketch 1s included only lo ass,st the reader of the report in v,sualmng the property and undersland1ng the appraiser's detenmnation of 11s size


  3. The appraiser has exammed the available Oood maps Iha! are provided by lhe Federal Emergency Management Agency (or other data sources) and has noted In the appraisal report whether lhc sub1ec1 site ,s localed m an 1denhfled Special Flood Hazard Area Because the appratser 1s nol a surveyor he or she makes no guaranlces, express or 1mphed regardmg this determination


  4. The appraiser w,11 not gJVe tesh ony or appear m court because he Of she made an appraisal or the property in question mle$S speafic arrangements lo do,so have been made beforehand


    1

  5. The appraiser has eshmated the value of the land m the cosl approach at its highest and besl use and lhe improvements at thelf contnbulory value These separalevaluations of lhe land and unprovements must not be used m con1unclton with any other appraisal and a,e invalid 1f lhey are so used


  6. The appraiser has noted In lhe appraisal report any adverse cond1t1ons (such as. needed repairs, deprec1atIon the presence of hazard wasles, toxic substances, etc ) observed dunng the mspection of the sub1ocl property or that he or she became aware of dunng the normal research involved In performing the appraisal Unless otherwise slated in the appraisal repon the appraiser has no knowledge of any hidden or unapparent cond1hons of the property or adverse environmenlal condlleons (including t•re presence of haiardous wastes 1ox1c substances elc) that would make the properly more or less valuable,

    .,1nd hns assumed lhal there are no 1,uch cond1t1ons and makes no guaranlees or warranlIes, express or 1mphed, regarding the cond1l1on of the property The appraiser will nol be responsible for any such cond1t1ons thal do exist or for any engmeenng or testing that might be required to discover whether such conditions exIs1 Because the apprarser Is not an expen m the field of env1tonmen1al hazarcis. u,e appraisal reporl musl not be considered as an environmental assessment of lhe propenv

  7. The appraiser oblasned lhe 1nforma110n estIma1es, and opinions lhal were expressed m the appraisal report from sources lhal he or she oons1ders to be rehable and bel18ves them lo be lrue and correct The appraiser does not assume rcspons1bthly r9r the accura y of such ,terns !hat were furnis ed by other parties

: ft; ·1The appra1Ser w,,11 not d; :ciose the conlents of the appraisal report except as provided for 1n the Unifonn Standards ol

· ofess,onal p ra1s81 Practtee


9 The appra1S rhas bas d his or her appraisal repor1 and valuahon condust0n for an appraisal thal 1s subIect to satisfactory completion, repairs or allerallons on the assumption Iha! complet1on of the improvements will be performed m a workmanlike manner

p.f)M!NlSTR.ATIVE COMPLA!Nt


10 The ap,>ra1ser musl provide his or her pnor wrIUen consenl before the lender/client specified in the appraisal repor1 can d1stnbute the appraisal report (mduding condus1ons about the property value, lhe appraiser's Identity and professional des19nat1ons and references to any professt0nal appraisal organizations or the firm With which the appraise, Is associated) to anyone other than the borrower, the mortgagee or ,ts successors and assigns, the mortgage insurer, consultants, professional appraisal organizations, any slate or rederally approved financial ins1ttut1on, or any department, agency, or mslrumentahty of the United Stales or any state or the 01slnct of Columbia, except thal the lenderlchent may dtslnbute the property descnplion section or the report only to data collection or reporlmg serv1ce(s) without having lo oblam the appraiser's pnor wntten consent The appraiser's wnlten consent and approval must also be ob1amed before the appraisal

0 (t

f

n be conveyed by anyone to !he Public through advertising, public relations, news sales. or other media .. ··•

''"'''"Mac Fann.,. (69J) ClickFORMS Appraisal SoNware 800-622-_87(?7I I" C. V V 1\/1,r ',oon "'"'" (6·

P• 12  

' ; ,i' I; ' '' 1

PAGE

    33 OF


SERVICE APPRAISALS

File No RF-0448-05

Case No


APPRAISER'S CERTIFICATION· The Appraiser certifies and agrees that


I have researched the subJecl marker area and have selected a minimum or lhrec recent sales or properties most s1 11lar and proximate to lhe sub1ect property foi' cons1dera11on rn the sales comparison analysis and have made a dollar adiustment when appropnale to reflecl the marlcel rcacllon 10 !hose items of s19nif1canl vanahon If a s,gnincant 11cm in a comparable property 1s supenor to or more favorable than, the subJect property. I have made a negative ad1ustmen1 lo reduce the adJustcd sales pnce 01 the comparable and, ,fa s1gntflcan1 ttem 1n a comparable property 1s mfenor to or less favorable than the sub1ecl properly, I have ma_de a pos1t1ve adJuslment to increase the ad1us1cd sales price of the comparable


  1. · I have lak:en into cons1derat,on the factors that have an impact on value m my developmenl of the estimate of markel value m the appraisal reporl I have not knowmgly withheld any s,gniflcanl 1nformalion from the appraisal report and I believe, to the best of my knowledge, that all slalemenls and information m the appraisal repor1 are true and correct


  2. I staled 1n the appraisal report only my own personal, unbiased and professional analysts, opm,ons. and conclus1ons, which are subJect only to the contingent and hm111ng cond1110ns specified 1n this form


  3. I have no present or prospective interest m lhe property thal 1s 1he sub1ect to lh1s report, and I have no present or prospective personal interest or bias with respecl lo the part1c1pants 1n the transaction I did not base, either partially or completely, my analysis and/or lhe estimate of market value m the appraisal report on the race color, rel1g1on sex, handicap familiar slalus, or national ongm of either the prospecltve owners or occupants of the sub1ecl property or of the present owners 01 occupants or the properties in !he v1c1rnty of lhe sub1ecl propertv


  4. I have no present or conlemplaled future 1nteresl m the sub1ect property, and ne1lher my current or future employment nor my compensation for performing this appraisal 1s contingent on lhe appraised value of thP. roperty


  5. I was not required to report a predetermined value or d1rect1on 10 value that favors the cause of the ci1ent or any related party the amouot or the value eslrmate, lhc allarnment of a specific result. or the occurrence of a subsequent event m order to receive my compensahon and/or employmenl for performmg the appra,sal I d,d not base lhe appraisal report o/1 a requested mrn1mum valuation. a specific valuation or the need to approve a specific mortgage loan


7{ I Performed this appraisal m conrorm1ty with the Uniform Standards of Professional Appraisal Practice that were adopted and p oi:nutgated by the Appraisal Standards Board of The Appraisal Foundallon and thal were m place as of the eUecllve date ofth,s appraisal, w11h the exception or the departure prov,s10n of lhose Slandards, which does not apply I acknowledge tha1 an est1male of c:t reasonable time for exposure in the open market 1s a cond1t10n in the definition of markcl val a and the esllmate·I developed 1s consistent w1lh the marketing time noted in the neighborhood section or 1h1s report ,unless I have olherw1sc stated m the ;econc1hat,on seclton


  1. I have personally inspected lhe mleno1 and e>elcnor areas of lhe sub1ect p,operty and the extenor of all propert,es hsted as comparables in the appraisal repo1t I rurther certify that I have noted any apparent or known adverse cand1t1ons 1fl the subJeci improvements on the subJeCI site, or on any site w1lhm lhe 1mmedtale vicinity of the subJect property of which I am aware and have made ad1ustments for these adverse cond111ons m my analysis or the property value to the extent that I had.market evidence to support them I have also commented about the effect of the adverse cond1t1ons on the ma1ketab1hty of th sub1ect property


  2. I personalty prepared all coocluS1ons and opinions about the·reat esfale that were sel forth 1n the appraisal repart If I relied on s19n,ficant protess1ooal ass,slance from any md1v1dual or 1nd1v1duals m the performance of the appraisal or lhe preparation or the appraisal report, I have named such md1v1dual(s) and disclosed the spec1f1c tasks performed by lhem m the reconc1hat1on seclron of this appraisal report I certify that any md1v1dual so named 1s qualified lo perlorm the tasks I have nol aulhonzed anyone lo make a change lo any 11ern m the·report therefore, 1r an unaulhonzed change 1s made to the appraisal report, I will take no responsib1l11y for 11


SUPERVISORY APPRAISER'S CERTIFICATION· If a supervisory appraiser signed the appraiser report, he or she cerhfies and agrees that I directly supervise (he appraiser wtlo prepared the appraisal report have reviewed the appraisal report, agree w11h lhe statements and conctus1ons of the appraiser. agree to be bound by the appra,ser's cerhficallons numbered 4 through.7 above, and am laking full respons1b1hly for the appraisal and lhe appraisal report


ADDRESS OF PROPERTY APPRAISED                   10766 VERSAILLES BLVD WELLINGTON FL                      


A AA ER 1

; :tur erald R ;&d

Date.Signed APRIL 23  2005 '

Stale Cert1flca1100 # _R_Z 9 6_7. •                         _


SUPERVISORY APPRAISER (only 1r required)


Stgnalure                                                                              

Name                                                                               Date Signed                                                                         

Stale Cert1ficat1on #                                                                     

or Stale License # or State License ti                                                                         

f ()1

State .Eb    ,                               Slate                                                                                   

Exp1ra11on Date of Cert1rical1on or License 11/30/06 Expiration Date of Cert1ficat1on or License . ,        ,_- --- --

1'\UI VI 11 \J j ID/<trWiDJd ot 1,usp_cqt,flri>peJtAl:rt

I

I I =ff age-¥.l'""ot 16

Freddie Mac Form39 5.93 ChckFORMS Appratis.a.lXS.oHftwatres800-62Z-B727 ,",) Fann Mae Fann 1DCMB 6-03

PAGE  )'-I OF                           



SERVICE APPRAISALS

SUBJECT HISTORY ADDENDUM File No RF-0448-05

Case No

Borrower LENZER BURTON                                                                                                                                                            Property Address 10766 VERSAILLES BLVD                                                                    City WELLINGTON County      PALM BEACH             Slale        FL      Z,p Code · 33467       Lender/Client Pnvate Lender                                                                                                                                                       


T t.

Q I ) l\/1I t\lI R 1-l \ I V

ChckFORMS Appraisal Sof1Ware 800!622-8727

COIVl11"W\IJ'! •

In ?e:. lop1ng a re I oslale a ra,sal, an appraiser must consider, analyze and d1sr.lose

  1. Any current agreernenl of sale, option or listing of the property bemg appraised


  2. Any pnor sale of lhe subIec1 property bftmg appraised 1hat occurred wtlhm lhe following time penods


    1. one (1) year for 1,4 family res1dent1al property, and


    2. lhree years for all Olher p1operty types

The appraiser has attempled to obtain speofic 1nformat10n on the subJect property with the fonowing findings


D Th;e sub1ect property has had no change of ownership durmg the past one (1) year

.0 The sub1ect p,operty has had no change of ownership dunng the past three (3) years

0 The sub1ect property 1s currently under contrac1 Details of the pending purchase are summanzed below

0 The sub1cct p,operty 1s currently offered !Of sale, hsting puce 1s $                                                        _

IX] The sub1ect property has been sold dunng lhe past one (1} year penod ·oeta1ls of the previous sale are d1scJosed below

0 The sub1ect property 1s proposed construchon and 1s not currently bemg offered

0 A p,ev1ous sale h1sto,y of the property could not be obtained by the appraiser in lhe normal course or business

.Grant r/Owner of Rec rd

NATHAN & YOLDIE VINCENT

Grantee/Purchaser

. LORAINE SMITH BROOKS & JOHN KIBLER

Conlract Pnce/Sale Pnce

$ 22 6=00-'-0 ---------------------------

Date ot ContracVSale

"M"-A-'-Y'-"-20'-0'-4'---------------------------

Comments


The sub1ecl property has not sold w1lhm the pnor thirty six monlhs

1(16

Page 14 of 16

EXHIBIT

#_:d::::;_                 ,..,.,.:,p_.':_

PAGE 3  

OF                      


SERVICE APPRAISALS

USPAP COMPLIANCE ADDENDUM F,le No RF:0448-05

Case No


APPRAISER'S CERTIFICATION

The followmg Ccrt1f1cat1on statemenls are m add1hon to and may supercede the signed t'lpprniser's Cert1f1cat1on attached to lhIs appraisal reporl This Appraiser· Ccrtrf1ca11on 1s compl,anl with tho currcnl ed1hon ol the Uniform Standards of Profess10nal Appraisal Practice


I certify that ro the bcsl of my knowledge and behef


The statements of foci contained 1n lh1s repon are true anO correct

The reported analyses, 0p1mons, and conclus,ons are limited only by the reported assumptions and lim1ting cond1taons and ar8 my personal, 1mparua! and unbiased profess,onal analyses, opm1ons and conclus,ons


I have no present or prospective interest in the property that 1s the sub1ect of lhrs report and no personal interest with respect to the parties involved I have no bias w11h respect lo the property lhat rs lhe subfect of this report or to the parties 1nvoved w1th this assignment

My engagement 1n this assignment was not contingent upan developing or reporting predetermined results


My compensation for completing this ass,gnemenl Is nol contingent upon the development or reporting of a predetermined value or direction 10 value that favors the cause of the chent the amount of the value opin,on the atlainment of a st1pula1ed result or the occurrence of a subsequent event dffectly_ relate1to the rntended use of this appraisal


My analyses, opinions, and concrus1ons were developed, and this report has been prepared ,n conformity with the Uniform Standards of Professional Appraisal Practice


l (K]haveOhave not made a personal 1nspecton of the property that 1s the sub1ect of this report (If more than one person signs lh1s cerhflcahon the cert1hca11on must ciear1y specify which md1wduals did and wh,ch indMduals did not make a personal 1nspechon or lhe appraised property )


No one provided s19rnhcant real property appraisal assistance to the person signing this cerMcallon (If there are excephons lhe name or each md1v1dual prov1d1ng s1gnificant real property appraisal ass1slance must be stated )


PURPOSE, INTENDED use. AND INTENDED USER OF THE APPRAISAL

The purpose of the appraisal 1s to estrmate the maOl.et value of the sub1ect property, as defined in lh1s report as of the ertect1ve date of this repor1 The intended use of the appraisal 1s to assist the client and any olher intended users 1n lhe underwntmg, approval and fundmg of lhe mor19age loan The intended users of this report are the stated c1Ient and any other mstrtut1ons 1nvo1ved m the underwnt1ng. approval, and funding of the mortgage loan No one else. mdudmg the purchaser and seller, should rety on the estrmate of value or any other concius1ons contained 1n thrs appraisal repon


ANALYSIS AND REPORT FORM

The appraisal 1s based on lhe informatmn gathered by the appraiser from pubhc records, other 1dent1f1ed sources mspechon of the sub1ecl property and neighborhood, and selection of comparable sales hstrngs, and/or rentals within the subJeCI market area


The ongmal source of the comparable data descnbed 111 the Data Source section of the market gnd along with the source of confirmation provided, where available, the ongmal source 1s presented first ThE! sources and data are considered reliable When conO.ct1ng tnformat1on was provided, source deemed mosl reliable has been used Data believed lo be unreJ1able was not included m the report or used as a basis for the valuo conclusion The extent of the analysis to this assignment 1s stated rn the Appraiser's Cert1flcat1on included above and attached to this ,eport


DEFINITION OF INSPECTION

The term 'Inspection" as used m this report 1s no! the same level of 1nspechon that 1s required for a "Professional Home Inspection" The appraise, does not fully inspect lhe electncal system, plumbing systems mechanical syslems, foundat10n system, floor slructure or subfloor The appraiser 1s not an expert in construction matenals and the purpose of the apprarsal 1s to make an econormc evaluation of the sub1ect property If the client needs a more delailed inspect,on of the property a home mspechon, by a Professional Home Inspector, 1s suggested


DIGITAL SIGNATURES

The s,gnature(s) afflxed lo this report and cerl1f1cat1on were appfled by !he ongmal aPpra1ser(s) or supervisory appraiser and represent thoir acknowledgerll8nts of the facts, opinions and conclusions found in the report Each appratser(s) applied his.or her signature electronically Using a password encrypled method Hence these ssgnatures have more safeguards end carry the same vahd1ty as the indrv1dual's hand apphed signature II the reJ)Ort has a hand•apphed s1gnilture, this c.:omment d0es not apply

°"'

OPINION ·oF MARKET VALUE vs ESTIMATE OF MARKET VALUE

The rrenl Uniform Stand_ard:5 of Profess1o'nal Appraisal Practice defmes the maOl.et value condus1on as an opinion of market value and not an estimate of m3rkel value


THREE YEAR SALES HISTORY FOR THE SUBJECT PROPERTY

The appraiser has comphed with Standcirds Ru!e 1-Sb.and 2·2b (1x) requmng the appraiser to analyie and report all sales of the subJect property that occurred within the three (3) years pnor to the effective dale of lhe appraisal If this information was available to the appraiser{s) rt 1s reported 1n the sub,ed column of Sales Comparison Analysis section of the appraisal report


n "':T' \,t:r'


() 'i ?Lf iN11


EKPOSURE PERIOD

By studying the sales of s11mlar comparable residential properties wath value ranges as 1denllf1ed in the Neighborhood section of lh1s rePort and d1scuss1ons with 1nd1v1duals knowledg able of current neighborhood trends m the sub1ect area. the appraiser feels that the exposure trme for the

sub1ccl prope: ". equloat,hle m d1calar,T,me ,dtenit,fi inthe Ne,ghborl100d section of (hos appraisal report

ADM IN LST "'"' I , ·- •


s,gnature", ! .- .

='•

-.:·

""s,,.gn,..a,,..t.ur,,_e                                     oo,d Oood Not

' •• '\ ·,

:°i

  • r:-_:

r   j


·

,,_,....._.. ·..-- . . -- ....- ....... --_        ....

Date Report1S19ned·   APRIL 23, 2005 ' , , . I O""a,.,t,,_e-"R"'e"'po"rt'-'S"',,.gn_,,ede,...                                                          

Name                                                                                               N a"'m •" lnspec, Property

t 1 1

State Cert1ficalton RZ967 Stale FL ,,_St=a t• C e rt •f•cccae:t •on=#                        State flil.

!:. ,. i {g -•• - .

..,,_, ....----;-•.-

   .,.    

... ,.,..,.LO'.::r::S;:ta::te=Loce=:n:::s:::e::#=========== S;::ta;::le'.:::=::. '.Q '.::r:.'.s._;1 :.:le;:'.;L,::ce n;se;::;#::::·;;:;::;;:: = n;:,p;:, •Pf•::.•cl•::;+;;:\:";:;";\;' +:::Sl:;a l•==V'=.I

ChckFOR te r9 s·r,;s"'OJ r,q0j?_{6 2-8127C. V'Vl'tfl;I '-'-' u, Pag'e 15 of 16

EXHIBIT #...: : ­

PAGE

   '3   OF


SERVICE APPRAISALS

,APPRAISAL AND REPORT IDENTIFICATION F,te No RF-0448-05

Case No

80<rower LENZER BURTON                                                                                                                                                                           

Property Address 10766 VERSAILLES BLVD



This Appraisal conforms to one of the rollowing defimt1ons


0 Complete Appraisal

The acl or process of est1mat1ng value, or an estrmate of value. performed withoul invoking the Departure Prov1s1on

L1m1led Appraisal

The acl or process of estimating value, or an esllmahon of value, performed under and resulting from invoking the

Departure Prov,s1on



This Report ts one of the following lypes

Self Contained Report

A wntten report prepared under Standards Rule 2-2(A) of a complele or llmrted appraisal perlormed under Standard 1


0 Summary Report

A wntten report prepared under Standards Rule 2-2(8) of a complete or hm1ted appraisal performed under Standard 1

Restnc1ed Report

A wntten repOrt prepared uflder Standards Rule 2-2(C) of a complete or l1m1ted appraisal performed under Standard 1

.


Comments on Appraisal and Report Identification

Note any departures from Standards Rules 1-2, 1-3, 14, plus any USPAP-rclated issues requmng disclosure








•.






·-



















,-..                                                                                                                                                                                                      






·'























ff


....


,..,,...



----·---·-

,-rnr..TI\/C" f:C IM.\JLl--'\.U'I I. 11

j





A.I J.\Vl 11'I I.:> I I ,n

' • ·





I

City WELLINGTON County       PALM BEACH             State         FL              z,p Code    33467       Lender/Client Pnvate Lender Address Pnvale Lender



.


ADMINISTRATIVE COMPLAINT

i:x .! 21 r _17..·     l----

  • i...    

    {_?    l; r


    ChckFORMS Appra,sat Software 800111--2 -8 7 2 7------,.,;.P.;;•;,9•:;.....;6' ;...;;.of.,..1.,,6'""-

    EXHIBIT fftZ>:=

    PAGE 3; OF


      ,,


                                                             INVOICE                                                             


    Date AP.RIL 23, 200S. File No RF-0448-05

    Case No


    Prepared for


    Private Lender Private Lender


    Propel1'f Appraised


    LENZER BURTON

    10766 VERSAILLES BLVD

    WELLINGTON. FL



    Work Perfonned


    _A;,P;P R A IS A L ? F=A=S l N=G=LE=FA6JM ILfYJ3R§E§.S[J;IDtj;E NlfCfE                   

    :C: :usto m ers p=yma=e=nt =oi-w=awrd,s- aa.p!ip9a!Jisa-l=f-e=e-=-=-=-=-=-=-=-=-=-=-=-=-= =- -;$


    4

    --'-9,5,.,o<co .

    === =======--==========-4=95 00        

    ===============T=ata=l Am=oun=t Du=e :$ --0 0-0 -


    : Please make checks pay.able to


    SERVICE APPRAISALS

    1901 SW SAVE

    MIAMI, FL 33129·



    ,

    AU!v'ill\llSTRATIVI: co l,FLJ\INT

    AUM\NIS1RATIVE COMPLAINT

    EXHIBIT #..::::d:1 =-i­

    EXH!BIT #,_ I . -

    -..------· - .. '.._,,

    PAGE _!JJ  OF

    ChckFORMS Appraisal Software 800-622-8727 Ill



    )

    '

    APPRAISAL REPORT

    of


    Single Fam,ly Residence al

    10766 VERSAILLES BLVD WELLINGTON, f,L

    As Of

    November 18, 2005

    Prepared For


    WCS LENDING, LLC

    6501 Congress Ave

    Third Fir. Boca Ralon, FL 33487

    Prepared By.


    SERVICE APPRAISALS

    Gerald Rowley

    4552 H1ghgale Dr Delray Beach, Fl. 33445

    AlJiVl I1\1iS TR.!\TIVE COMPLAINT

    EXHIBI #

    P.ASE

    '

                                

    OF

    Exhltl« fo

    p., t'

    -

    AUWl\NI'Sl HAI IV --

    t.

    1.,u1v1,r r..n,,,. ,.

    . . ,., ' A li\lT


    l,..,, h

    EXHIBIT #..:?:::...---- ­

    PAGE _]j_ OF ----



    SERVICE APPRAISALS

    File No RF-1102-05

    ProoortvDescnotoon UNIFORM RESIDENTIAL APPRAISAL REPORT Case No

        fr9 A<ld1e., 10766 VERSAILLES BLVD Cnv WELLINGTON SIaIe FL Zoo Code 33467

    Leoal Descnol,on LOT 284 VERSAILLES PUD Coonlv PALM BEACH

    Asse,sor's Parcel No 73-41-44-2•-0S-000-2840 ASSD $667 273 Tax Year 2004 RE Taxes$ 15 067 23 Sno<-,al Assessmenls $ NIA

    Borrower .LENZER BURTON Curr;;;i"Ownor LENZER BURTON Occunanl IXIOwne, I lTenanl I lvacan1

    P-nrn1hIsaaorased IXIFeeSimole I ILeaseholcl Pro Tvoo IXIPUD I ICondom oumlHUDNAonlvl HOA$ 35800 /Mo

    Ne hborhoodorPr ee1Name VERSAILLES PUD LtmReleoence 44-41-24 Census Traci 62 030

    SJle Price S REFINANCE  Date of Sale. N/A _ IP Drl and S amount of loan cha, 1concess10ns to be na1d bv setle, NIA

    Lender/Chen! WCS LENDING LLC Address 6501 Conaress Ave Thnd Fir Boca Raton FL 33487

    •-•a,ser Ger Id Rowlev Address 4552 Htohoate Dr Detra Beach FL 33445

    Locatioo U1ban Subu,ban _ Rural Predonunant S p,lgfam1lyhous,:sp Presoibn:IUS11% Landunct,;m11!-.

    Bu41up Over75%    25-75'4 _ Unde125% occuinncy Siooof l'P'I One family ---2§_ [K)Nolhkely LJL1kety

    Growth iatc Rapid Stable _ Slow :Ownet .......1ZL low      §     2-4 f;tmdy _Q     0 In process

    Property values locreasmg Stable _ Dec:l1mn9 Tenant 3_MM Hiah 35 Mult1-tamdy _---c-_t-T o J

    Demano'supply .,_ Short.Jgc Ji In balance _ Oversupply Vacant(0-5%): 1 Piedommanl lr!l'Iit CommerClol 5_+ <

    Marl<e• lme Under 3 mos X 3 6 mos Over 6 mos VacanH""" 5% 800-2 SMMI 20

    Note race and the racial composition of the rte1ghbort.ood are not appraisal factors

    • Ne hborhood boundancs andcna<aclerohcs FOREST HILL BLVD (NORTH), JOG ROAD (EAST) HYPOLUXO RD (SOUTH) & 150 AVE (WEST) I

    TYP DWELLINGS ARE 1 & 2 STY CB STUCCO SINGLE FAMILY RESIOENCES VILLAS & TOWNHOUSES

    • Factors lhat aflect the martetabrhiy of Ule prope1ties m the neighborhood (proxrmty 10 omploymenl and amenities emptoymcnt stabrldy, appeal lo market. etc}

    • THE NEIGHBORHOOD HAS AVERAGE TO GOOD PROXIMITY TO SHOPPING SERVICES & A REGIONAL MALL THE

      " WELLINGTON GREEN MALL LOCATED WITHIN THE NEIGHBORHOOD THE WELLINGTON MEDICAL CENTER IS LOCATED JUST NORTH OF FOREST HILL BLVD INTERSTATE 95 IS LOCATED 6 5 MILES EAST THE RONALD REAGAN TURNPIKE

      IS LOCATED 1 MILE EAST EMPLOYMENT CENTERS ARE IN REASONABLE PROXIMITY RESIDENCES HAVE GOOD TO­

      EXCELLENT APPEAL TO THE MARKET

      Marllet amd1hons 1n lhe sub,ect neighborhood (JOdud1ng support for lhe above cooclJs1ons rela!ed lo lhe t1cnd of property values demand/svpply and markehng time

      •· sum as data on compe1111ve properties for sale in the rieighborhood, descnpboo of the prevalence ol sales and finaoong concffltOOS, etc )

      VALUES HAVE REMAINED RELATIVELY STABLE DUE TO DEMAND FOR HOUSING IN THE WELLINGTON VICINITY DISCOUNTS 6UYDOWNS AND CONCESSIONS ARE NOT PREVALENT AND HAVE LITTLE IMPACT ON VALUE TYPICAL FINANCING IS CASH FHA & CONVENTIONAL FINANCING MARKETING TIME FOR COMPETITIVE PROPERTIES HAS BEEN AVERAGING THREE TO SIX MONTHS


    • Pro,ect lnlorma11on for PUOs (II apphcable-· Is lhe developcr/bJllderon con ol ol lhe Home Owne(s Assooahon (HOA)? l1S.J Yes LJ No Approxrnale total number of units ,n the subteel Oject 456 Approx1ma:e 1oial number cl units for salem the subject PIOJecl 13 E llescnbe common elernen and1ecrea11onal laobles COMMUNITY POOL CLUBHOUSE 24 HR MANNED GUARD GATE, COMMON AREAS

      D1mens1011s IRREGULAR !SUBJECT TO SURVEY! Topogtaphy =LE:':V::-E":L"c-,--=-=-=cc-----

      5"" area 12 632 SF Como, Loi 0Yes l1S.JNo S•e TYPICAL OF AREA

      17

      n

      Sooof zoning cias,olocalMJn and clew1pI000 PUD  PLANNED UNIT DEVELOPMENT Shape ':IR-=R'-=-'E="G-=U='LAc--"cR'=""c===-- Zon,,g compllance [8:) legal Legat nonconlcrm,ng (Gtandlalhefeduse) LJIllegal LJNo Zoomg Drainage APPEARS ADEQUATE Hinhest & bes! use as tffiDfOVcd rxTPresenl use Other use (eKolaml Vtf!W =LA'""=K""E/R E S=l-=D,...,.,=-,----

      i ,-

      Ul•iloes F p L Other DH-sole IIT"l"ovemen Type Pubbc Pr, Landscaping TYPICAL OF AREA

      ElcctrlC<ly ,_ '-'----"------J Slrcel ASPHALT Driveway Surlace _P_A_V E_R S                         _

      Gas

      BOTTLE

      Curt,\iune, CONCRETE/GUTTER X ,_

      ApparenIeasemen1s U T IL l TY - ,_--,,.,,.--

      Waler

      X CITY

      S<dewa CONCRETE X I-

      FEMASpeoatfloodHazardArna l]Yes [.K)No

      San aoysewer SI0,mscwer

      x' -------< S•cell9h1S ON FIBERGLASS POLES :i5: _

      X Me• NONE

      FEMAZone B Map Dale 02/01/1979 FEMAManNo 120192 0170A

      GENERAL DESCRIPTION

      EXTERIOR DESCRIPTION FOUNDATION

      BASEMENT

      Area Sq Fl

      'ti Finohed

      Cc,lng Wans Floot

      Clulsode Entry OF SO

      - --llNSutATION

      O Rool COOE

      -- C..hng CODE . X

      NIA Walls BSEMNTS Froor CODE ARE NOT None ---

      TYPICAL Unknown UKN X FLORIDA

      No of Un,

      ONE

      Foundal,on Reonf Cnc Stab MONOLITHIC

      No o1Slones

      TWO

      C,te,oor \'/all; C Btk Stuccc Crawl Space NONE

      Type(Oel/Atl)

      DETACHED

      Roof Sulfates Cone TIie Basement NONE

      llesogn (Sl e)

      2 STY

      Gulleos & DwnsplS SIDES Sump Pump NONE

      EJ<osbng/Proposed

      A!Je (Yrs I

      EXISTING

      2003121

      Window Type SIN HUNG Oampness NONE NOTE[

      SIOfmlScreens SCREENS Selllemenl NONE NOTE

      Eflccbvc A c fYrs l

      EFF 1

      Manufactured House NO lnfeslallon NONE NOTE

      ROOMS

      Fove,

      Uvmo

      . 9

      KJlchen

      Den Famil Rm

      Rec Rm

      Bedrooms

      II Balhs

      Laundrv

      Olher


      STUDY THEATEI

      Area Sn Fl

      0

      3848

      1 860

      Basemen!










      Level 1

      X




      SITTING


      3 50


      1

      Level 2







      3

      00












      0

      Comments (apparentadverse easements, enaoachmenlS spec:aal assessments, s•de areas, 1&egal or legal floocooform1119 zoning use etc) NO UNUSUAL OR UNFAVORABLE ADVERSE EASEMENTS ENCROACHMENTS OR CONDITIONS WERE OBSERVEO EASEMENTS ARE_ THOSE OF PUBLIC RECORD TYPICAL OF UTILITIES NO SURVEY PROVIDED APPRAISER



    • F1mshedarea above QJadecontains 10 Rooms 5 Sedtrrms) 6 50 Balhlsl. 5 707 S[JUare Feet of G,oss l.Mna Alea

INTERIOR Matenals/Cond,uon HEATING KITCHEN EQUIP ATTIC AMENITIES

Floors Marllle/Wd /Carol/Gl Type Refngeralor ]: None : Ftreplace(s) U NONE :

" Walls DRYWALUGOOD Fuel ELECT Range/Oven Slan ,- NROEANRE

CAR STORAGE

None 0

Garage 3 # of cars

8alhfloor MARBLE/GOOD coo X •--

p-

;_ ee•--'ed

.       = -- -- - - - -

  1. \U IVtli\J,::> I l"\.r.l !Vt. l, ,._,'I V1.t"' W l r

    Tn,;,n:a,,sh WOOD/GOOD CondlllOn GOOD llisposal 4 llropS,a,r

    =

    "i(

    Allaehed

    EX h

    Ii BIT # of Ball> Y'i""'"" MARBLE/GOOD Cen

    f;fL Fan/Hood Floor ,... fPenceool NN0 NNEE ,... Bu,n-ln

    0

    I C-,.?,-------::--:: ----! ]Ooon SO LLrogw o cJWoORCIEOREEXINTT/jGjODl hC;oendr,oonCiO/AO:DljMW<arsohewr"'"-veXJXF11j1H•,_e. ;•'-;ed& CVJRjD_L EBNQTRt!YTI[f'xJ°LJOCrovewarporP1A;'VLE_Rj S -

    PAGE QF Add11onat feahrtes (speoal energy effiocr,I olems, etc) S E EC~O M_M_E-N_T_ADUDM E N                                                                                       _


    Cond'1!0n of the unprovements depreoa11on (physical, lund1onal and external) repairs needed qua ly of oonstruciion, remodel1ng/addll10t1s etc NO FUNCTIONAL

          INADEQUACIES WERE NOTED UPON INSPECTION OF PROPERTY NOR ANY EXTERNAL INADEQUACIES OBSERVED UPON                  

          EXAMINATION OF SITE WHICH WOULO AOVERSELY AFFECT niE MARKETABILITY OF THE SUBJECT SUBJECT IS EXCELLENT          

    • QUALITY CONSTRUCTION & IS CONSIDERED TO BE IN EXCELLENT CONDITION                                                                                         

Ad erse enwonmen1a1 co00111ons (such as but not hmtled to, haza-dous wastes, toK1C subslance.s, etc} present 1n th impro,v J!1; .pn !b,!! 1\e 011111 lhe ,mmcchate ,Ir 1 otthe subjeclpioper1y NO   ADVERSE ENVIRONMENTAL  CONDITIONS WEf<E\NOTED UP.ON'EXAMINATION OF SITE 1 I IMPROVEMENTS OR WITHIN THE SUBJECT'S IMMEDIATE VICINITY. - I 7 /

Freddie Mac fl)(m 70 6-93 Cl,ckFQRMS ApEXHlt'!l"1800·w•87 Fannie Mae Form 100416 93)-1'Jl9•-· 1 'ol 16


PAGE  'f_o OF



VaI ua11on seellon

SERVICE APPRAISALS

UNIFORM RESIDENTIAL APPRAISAL REPORT


F1IeNo RF-1102-05

Case No

ESTIMATED SITE VALUE 'I

ESTIMATED REPRODUCTION COST-NEW OF-IMPROVEMENTS

.

Owellmg -'2.,]2J_SqFl@S •I 998 725

115000( Comments on Cost Approach (such as, source ol cost estimate site 'lalue, square foot calculauon and for HUD VA and FmHA. the es1rnated remainm9 economic hie of the p,operty) SEE ATTACHED SKETCH &

Bsmt 0 Fl@I             = 0

KIT APPL'SIPATIO/PORCH/CVRD ENTRY•         35 500

-r

Ga,'9e/CM""1 714 SqFl@S -'55'50 ° 39627

Total EsI1maled Cost N;;·· -.---,l         1,073 852

Less Phys.cal 1 s41F n -t - Edernal

ADDENDUM FOR DIMENSIONS AND CALCULATIONS OF LIVABLE AREA BASE COST TO REPRODUCE ASSUMES EXCELLENT QUALITY CONSTRUCTION

ANO DESIGN AS REFERENCED BY MARSHALL &

SWIFT RESIDENTIAL COST HANDBOOK THERE_IS

. Dep,ec,ahon 16,537 0 0 -•I 16 53 NO FUNCTIONAL OR EXTERNAL OBSOLESCENCE

DePfeClaled Value of lmprovcmenls - -·- - - - - - - - - - •I 1 057 31 ATTRIBUTABLE TEL= 65 YEARS

·As is· Value of S,te lmp,o"ernenls - - - - - - - - - - - - - •I 35 00

INDICATED VALUE BY COST APPROACH .. - . -- - . d 2 242 31! Esl Remalfl100 Econ Ufe 64 vr,

ITEM I SUBJECT 10766 VERSAILLES BLVD

Address WELLINGTON, FL

COMPARABLE NO I

3597 Royalle Terrace WELLINGTON FL

COMPARABLE NO 2

.

3595 AIKEN RD WELLINGTON FL

COMPARABLE NO J

..

11332 Long Meadow Dr WELLINGTON FL

Prox1m11v to Sublect Sales Price Pnc&'Gmss UV lvea Data and/or

s REFINANCE

I 000 e I

PUB RECORDS

0 32 Ml SSE

.

2400 000

42046

SALES OFFICE

15MINW

2 430 000

I 398 30 J<'.l '. · s

14MI NNW

1,950000

439 39_ J<'.ll $ (¥

Venficabon Source

PERS INSPECT

!SC/PUBLIC RECORDS

!SC/PUBLIC RECORDS/MLS

!SC/PUBLIC RECOROS/MLS

VALUEADJ\JSTMENT,-.: DESCRIPTION •l-1$Ad"5lmenl

S31es or Finanong CONVENTIONAL

Concem,ns MTG $800 000

Oaleof S.le/T,me . OCT 2005

LOCallQn EXCL /RESIO EXCL /RESID

Leasehold/ Fee Sim le FEE SIMPLE FEE SIMPLE

s,. 12 632 SF 14 '!J. SF -11 00(

V,ew LAKE/RESID LAKE/RESID

IJeslOfl and An=al 2 STY /EXCL 2 STY /EXCL

Ouahtv of Construction CBS/EXCL CBS/EXCL

DESCRIPTION CONVENTIONAL MTG $1 665 000

OCT 2005

EXCL/RESID FEE SIMPLE

47 4BO SF

Polo Grounds 2 STY /EXCL CBS/EXCL

-tt-lS Adustment


-20910(

+15 00(

DESCRIPTION CONVENTIONAL MTG $400 000

JULY 2005 EXCL/RESIO FEE SIMPLE 23 958 SF

Golfers IRES RANCH/EXCL CBS/EXCL

tt.\SAduslmenl


·--


-68 000

+10000

Aoe

2003(2\a/EFF' 1e 2005 SUP EFF -5 00(

1993 INF EFF

+500( 1988 SIM EFF

+8 000

Cond1ll00

EXCELLENT

EXCELLENT

GOOD

+5 00{

GOOD

+5 000

Above Gracie

Tolal I Bdrmsl Balhs TolaliB<Jrm. Balhs

Tolal Bdnnsl Balhs

Tolall B<Jrmsl Balhs

Room Count

10151650 10I 5 I 6 so

10 I s I 600

+3 50(

9141450

+14 000

Gross LlvLM Area

5 707 So Ft

5 708 So Fl -10( 6101 So Fl

-21 70(

4 438 Sn Fl

+69,800

Basement & Finished

  • Room5 Below Grade Functional Uld1lv

    NIA

    NIA AVERAGE

    N/A NIA

    AVERAGE

    N/A NIA

    AVERAGE

    NIA NIA

    AVERAGE

    Heatmo/Cool1na

    CENTRAL NC CENTRAL NC

    CENTRAL NC

    CENTRAL NC

    K'aroort

    JCARGARAGE 3 CAR GARAGI

  • cE;n;e,rg..v..EffJClell1 llems . NONE SPECIAL NONE SPECIAi

NONE SPECIAL NONE SPECIAL

3CARGARAGE

3 CAR GARAGE

Porch, Palla Oeci.

R PA flO/R P.ORCH

R Paho/Prch

R Pa11o/Porch

R Patio/Porch

Fi,....,i ..rs1.·e1c . 'CVRD ENTRY CVRD ENTRY

CVRD ENTRY

CVRD ENTRY

Fence· Pool etc

NONE

POOL

-15 00( POOL

-15 00(

POOL

-15 ODO

EQUIPMENT -PUPGRADES -100 00( UPGRADES

INF UPGRADES +100 000

NelAm IIO!all I+ IXI- I -131 100

I+ IXI- $ -217 300

IXI+ I I- $ 123 800


Adiusted Sales Pnce

of ComnarabSe

,=-5% _k

oW5o/ -- 2 268 900

INOosl=-9;:%ioi;- -·L


2 212 700

Ner-6%             l

Gross;15% 2 073 800

Commenls on Sates Comparison (inciudmg the subject property's compahblbty to lhe nesghtx:irhood etc) SEE COMMENT ADDENDUM                                       

-- -·--


,lf'-lt


ITEM

SUBJECT I

COMPARA8LENO 1

COMPARABLE NO 2

COMPARABLE NO J

Dale Pnce and Data Source. fol poor sales Wt1hin VMr of aooraisa


l

SEE SALES HISTORY

ADDENDUM

NO PRIOR SALE WITHIN 12 MONTHS

ISC/PUB RECORDS

NO PRIOR SALE WITHIN 12MONTHS

ISCIPUB RECORDS

NO PRIOR SALE WITHIN 12 MONTHS

ISC/PUB RECORDS

Analys• of any curreol agreemenl of sale ol)llon ot <l""', ol lhe subieci propofly and analyso olat1y prlOI sales of subJ"CI and comparal:ies wnh,n one year af !he dale of awra,,al NO CURRENT AGREEMENT OF SALE OPTION OR LISTING OF THE SUBJECT OR THE SALE COMPARABLES WERE UNCOVERED THE SALES ARE CONSIDERED TO BE CASH EQUIVALENT

•"""cablel . ;ed -$- NII·\ ·

INDICATED VALUE ;;y SALES COMPARISON APPROACH . - . - - - - - . - . - - - ;, - .. I _ll_QQ,Q.Q.Q     

INDICATED VALUE BY INCOME APPROACH Ill eiR;ni ftlo x Gross Rent Mutbober •$ NIA

This appraisal cs made lKJ'as i:s· LJsubject to the1epa11s, alleiauons, 111spect10ns or (X)(ld1tlOllS lrsled below LJsubteci 10 comple11on per plans and speoficatoos

Con<11l,onsollljlpr""'al APPRAISED VALUE IS BASED ON THE CONDITIONS & FEATURES OF THE SUBJECT AT THE TIME OF INSPECTION ALSO SEE LIMITING CONDITIONS ALL SALES ARE CONSIDERED CASH EQUIVALENT

     Final Recom:il,at,on "INCOME APPROACH NOT USED DUE TO PREDOMINANT OWNER OCCUPANCY AND LACK OF                   QUALITY RENTAL DATA THE SALES COMPARISON ANALYSIS IS GIVEN PRIMARY EMPHASIS AS IT BEST

REFLECTS CURRENT BUYER/SELLER ACTIONS IN THE MARKETPLACE THE COST APPROACH SUPPORTS

The purpose of this appraisal IS lo esl1male the martet value lhe real property that cs subJeci 10 lhis report based on lhe above condlflOns and the cert.ificat100, conlingent

-

and hmlbng t;OOdllions, and maril.et value denrnuoo lhat are slated lfl the attached Frcddre Mac Form 439/Fanme Mae Form 1004B (Revised  6/93                       I  

:i ,).

I !WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF November 18 2005

15 THE DATE OF TION ANO THE EFFECTIVE DATE.OF THI REPORT) TO BE$ 2 200 000

"APP SER /J if)J- ·

SUPERVISORY APPRAISER \ONLY IFREQUIREDI

-

-- -

I S.malure • ,.,, - - /

G ·•""'<..Ao>'

Iv J• br, ' §,gnarure 001<1 QDidNol

':Y       Name                                          lflspect Property

Slale CeMICalKm # RZ967 Slale FL State Ceroficat1on II _,,....

,. Jll("t,&

·.. • io. ISlatc

     Dale ReE!2!J §!lined   November 1B, 2005                    . C/'          Dale Report S19ned                                      I 3

O! Slale !Jcense # ,,

Freddie Mac Fam 70 6-9J

. ,,:'

Slate · '-'I 0iSlaieL'ice/,setl KH_l_j Vt: l.UiVl1r "'-'"'''I 's1a1e

#J ·-·--­

ChckFORMS Appra,sal Software 800-622-8727 Fann,eMae Form 1004 (6-93) Page 2 of 11

EXHIBIT

PAGE   ;_'-/..:.-I


SERVICE APPRAISALS

COMMENT ADDENDUM

File No ' RF-1102-05

Case No

Borrower LENZER BURTON                                                                                                                                                                  

Property Address 10766 VERSAILLES BLVD                                                                                                                                   

C1Iy WELLINGTON Counly lender/Cl1ent WCS LENDING. LLC

PALM BEACH State Fl. Z1P.Code 33467

AddreSs 6501 Congress Ave , Third Fir Boca Ralon. FL 33487


ADDITIONAL FEATURES Oakwood banister and steps, sauna, home theater on second floor, recreation room on second floor, marble flooring throughout the first floor, marble flooring and wainscots in bathrooms, high end fixtures and hardware throughout, lake front property, granite tile countertops and backsplash in kitchen, 42" wood custom cabinets in kitchen, recessed hght1ng throughout, 3 car garage, rear porch and patio area, tray ceiling and s1tt1ng room in master bedroom suite, wood vanities and granite vanity tops in bathrooms, inground

, spnnkler system There Is wall lo wall Berber carpeting In the bedrooms The subIect has a bu1\t-1n home lheat r

· on..the secdnd floor The house exterior Is painted conc1ete block stucco There Is a full sized washer and dryer "'rn the laundry room The house has central arr cond1110ning The subJect Is considered to be In excellent

. co.nd1bon


'COMMENTS ON COST APPROACH Estimated Sile Value was abstracted from recent improved sales rn the subject's area High land to value ratio Is typical of the area due lo demand for housing In this section of Wellington and the lake front tot Thts factor does not adversely affect the marketab1hty of the subiect


DEFERRED MAINTENANCE None·noted al time of tnspectron.


COMMENTS ON THE SAi.ES COMPARISON APPROACH The comparables were adIusted lo the subIecl's location, srte area, s1te/v1ew, age, condItlon, size of Irving area, car storage, and amenrtIes The comparables used were the best available wrlh verifiable rnfomnat10n The subject and Sale #1 are lake lront properties

Sale #1 Is a recent sale of a sImIlar model as the subiect located rn the Versailles subdIv1s1on Comparables #2 and #3 are all located wIthrn the Welhngton area The sales uncovered are s1m1lar to the subiecl with regards to location, functional utility, quality of construction, total bedroom and bath count. appeal, community amenItIes, 9nd size of hvmg area Equal emphasis given to all sales


PERSONAL PROPERTY Personal property, including those items which are not permanently attached/fixed to the real property, have been excluded from the estimate of value unless 1nd1cated otherwise Examples ol the aforementioned include above ground swImmIng pools, countertop microwave ovens. movable dishwashers,

T V satellite dishes, and furniture



SERVICE APPRAISALS

SKETCH ADDENDUM Frie No RF-1102-05

Case No

Borrower   LENZER BURTON                                                                                                                                                      PtopertyAddress 10766 VERSAILLES BLVO                                                                                                                                

c,1, WELLINGTON C</ n'"'''-------'-P-'-A-"L""Mc--=B=Ec..Ac:Cc,.H'--- S t" •----'F-'L ---"'Z"'rp-"C"'od"'e   3:cj457

Lender/Clrenl \f'lr;S LENDING, LLC Addrc-.s 6501 Congress Ave, Thtrd Fir Boca Raton, FL :13487


225


5BATH


Family

ROOM

""

12 O'

BRK o

Nook

: or h-;

I

14 0

Patio

S1tt1ng

ROOM

JJ 0

Kitchen

Sauna

Dining

ROOM

LMNG

Bath

Bedroom

ROOM

Bedroom

Study

WIG

Laundry

Foyer

Bath

23 5

I

Three Car

Garage

Entry

.,

Bath

3 5' J 5

12 5

"'

21 5

First Floor

Camu1s"

ChckF9 .,5i P.P,' • l;§_ofJwi'\f8.09-(i22-8727\.,U IVl1r ....,,,,,Page 4

of 16

3848

3847 60


01 41

71.4 1S

(roo,ded}

IDTAL LIVABLE

3847 60

L20 00

JU 41

1'U 15

Pat>.o

"""""

nr11t Floor

GUU

p/p

3848

11 Galcutabons Total {rounded}

5 o,

81 l4

U.4 n

J60 00

195 89

0 LO

2004 73

70 95

243 75

lGO 00

28 1

22 5

,., 0

0 0

.. 2

21 5

19 5

" 0

' ' .

10 0

.

12 5 'II

0 0 .

37 0 .

0 5 •

25 S

,'

.

  • 0

21 S .

' 2

16 0 .

ll 25

12 5

Subtotal                        

..

' 2

0 5 II

UVIN3 A BR'AK!XMN

i dow

F1..c3t f'loac

2 5

S11.: . Net Tolillls

' '

Codo I Dncnpt,on'

.A CALCllATOS.'suiMA ---

EXHIBIT #- o<

PAGE

    L/3     OF


'SERVICE APPRAISALS

SKETCH ADDENDUM


F,leNo RF-1102--05

Case No

Booower LENZER BURTON                                                                                                                                                              

PmpertyAdd1es,   10766 VERSAILLES BLVD                                                                                                                                

c,1, WELLINGTON   Counly       PALM  BEACH              S1a1e FL Z,p Code 33467

Len e,ICl:enl WCS LENDING, LLC Address 6501 Congress Ave , Third Fir, Boca Raton, FL 33487



-


Open lo

Below ,., vo,

              ' 35

Q in

V

160'

Recreation

ROOM c!j#' "'

Open lo

Bedroom b Below

b

N 6 5'

"'

Bath so b

N


Bath 1611

Bedroom

b

Bedroom


11.5 qo

60


5"-•'c"''"..,,,v..

-


\


21rr


Bath Home Theater 27 0


Second Floor


-



in






I


AF6'\ 00-LCllATKNi 9-Mh\ ,

Code Dncnphon S1.ze Not TotaJa


LNIN3, AF6'\ EffAKIXJIIN

s,aakdown Subtotals

l2 0 . ,. 0 Jll 82


ts

Sucrx-d. nooie 1A'i9 69


:


lOTALLNABlE (ranloo)

UIS9 69


1850

Su:x.if-.J F\oo,;

0 5 • 1,2,0 . 10 7

0 S • ,. .. ' 5

7 0 . 12 5

2 s . 27 7

'0

5 0 . "5

17 .. u,

J s 5.

0 5 • B l .. • 1

0 5 • 20 20

2 0 . 2 0

16 0 •• 0

.0 .5 .2 S . 2 S

.,2, .. • 0

0 5 • • 2

,2 . • 2

165 27 0

18 o.k: D)S.Tdj,l,l,(_(,C_>.v..!,'P Lt


64 38

'2S

.3.1 .7.3

Bl 89


61 lt

24 SJ

19 71

J:J 06

  • 00

7 "

1540 00

J 06

25 f.6

'00

  • 00

  • s so

,\Nw


. ,,,, -

., ......'

r,..,-;1.J

I

\I•-





SERVICE APPRAISALS

LOCATION MAP ADDENDUM


F1leNo RF-1102-05

Case No

Bonuwe< LENZER BURTON                                                                                                                                                         

PropenyAddress 10766 VERSAILLES BLVD                                                                                                                                  

C,ly WELLING fON  covn,,    PALM BEACH             Slate         FL               Zw Code     33467        

;;:

lolo\PIC)lS84-lOQI J(t.( ATLAS NA INC

OF

  (!el/Chen! WCS LENDING, LLC Address 6501 Congress Ave , Third Fir , Boca Ralon, FL 33487




SERVICE APPRAISALS

SUBJECT PHOTO ADDENDUM File No RF-1102-05

Case No

Bonower   LENZER  BURTON                                                                                                                                                                                f'lopert,Address 10766 VERSAILLES BLVD                                                                                                                                                     9!1. WELLINGTON County PALM BEACH Slate FL Zlp Code 33467

Le,en"'d"'er"'IC::,hen:.:,t----'W=C°"S-"L""E'"'N°"D"-IN:..:G:.,.,.=L.:.LC"'----------'Ad=dre:,.:s,_s...,6:..:5.:.0-'-1-=C-=-on'"g"-r""es:..:s"-A"-'-ve_._Lih !!£.k.,jloca Ralon, FL 33487

rrf,= -= =:,-_ =:. ; ',=:.,=. =.: ,= =- . .==.==;c,= _==,====;=;-=-;= ;=-;=-=;;,======= ;C<;"PROPERTY

" • 10766 VERSAILLES BLVD

., WELLINGTON, FL


REAR OF

SUBJECT PROPERTY


,STREET SCENE


V , •-ri1

• • y l,J,',i•", ,\lr\t•r

ADMINISTRATl''E Cl"\ir• , 11

" • . 1T'

:_- ·.'t.JiB/T "

,: ,- ,- -n----....   _

A..:.i;;. l) ",::

!,_,,


(lj(}


Chcf et'lfyl.S,P.,pphirsal Soilware -622-8727


Page 7 or 16

EXHIB\T #-- jn_                                         

                I.I'                                             

PAGE

4 1 OF --------


SERVICE APPRAISALS

SUBJECT PHOTO ADDENDUM


File No

Case No


RF-1102-05

Borrower LENZER BURTON Property Address 10766 VERSAILLES BLVD C11y WELLINGTON County PALM BEACH Stale FL Zip Code 33467       

Address 6501 Congress Ave , Th,rd Fir , Boca Ralon, FL 33487


VIEW OF LAKE

FROM 2nd Floor


PHOTO OF KITCHEN


PHOTO OF FAMILY ROOM


P-t(



...,.---··,    -··· - .

_._,,,.....,,,-·


SERVICE APPRAISALS

SUBJECT PHOTO ADDENDUM F1leNo Rf.1102-05

Case No

ilolrower LENZER BURTON                                                                                      Property Add1ess 10766 VERSAILLES BLVO                                                                                                                                       


PHOTO OF

Master Bedroom

PHOTO OF

MASTER BATHROOM

PHOfQ OF BATHROOM

ADMlNlST P..ATiVE

r-xHlBh· # Q

I' '----.-.

) M. Fi ..:,...._" ) 1.J


Cl1ckFOEX HfBi'io 'ff_:!,.:,+- - 2:,:2:_:8:;,7.:,27:,

PAGE lj OF

  eaoo-9-·ol ···15




SERVICE APPRAISALS

SUBJECT PHOTO ADDENDUM F,le No RF-1102-05

Case No

Bo, rnwer= -L E N Z E R B U R T O N -------------------·-··---·-··--------

ProJ>O!tt Addrc,;s   10766 VERSAILLES BLVD                                                                                                                                                                      

\_:_Uy WELLINGTON Counly Lende1/Cbent WCS LENDING LLC

PALM BEACH Slale FL lip Code 33467

Address 6501 Congress Ave Thirci Fir Boca RatoQ..fh_ _


PHOTO OF BEDROOM


PHOTO OF RECREATION ROOM


PHOTO OF DINING ROOM


_;;;>

JI


#2-----­

EXH\B\T

CHckFORMS'Abi,ia,sal Software 800-622-8727 Page,...:_O_..'if 16


PAGE

  y tJ

OF  ----------..-. -.,,...


SERVICE APPRAISALS COMPARABLES 1-2-3


FoleNo RF-1102-05

Case No

Borrower   LENZER BURTON                                                                                                                                                     

Prope,1vAddress 10766 VERSAILLES BLVD                                                                                                                              

c,1, WELLINGTON  County            

le111ler/ClenI WCS LENDING. LLC

PALM BEACH      Slale        FL               ZpCode 33467

Address 6501 Congress Ave Third Fir, Boca Ralon, FL 33487

,.;;;====================-=-- -=--====-= =-=-=--=-=.icoMPARABLE#

3597 Royalle Terrace WELLINGTON, FL


COMPARABLE # 2

3595 AIKEN RD WELLINGTON, FL


COMPARABLE# 3

11332 Long Meadow Dr

WELLINGTON, FL



1 J

A.0MlN1STR.ATIVE COMPLAIN]

r-i-

_.. 1 :., -r .,

. ;\t"'(t•J • ;r- -··----_ ......---


.

?V\' 1. ' tJ


Cl1ckFOREXH°msrr•r:; Pa<JO 11 .:'--- -

PAGE Of ·-·-



SERVICE APPRAISALS

File No RF-1102-05

Case No


DEFINITION OF MARKET VALUE The most probable price which a property should bring 1n a compeht1ve and open market under all cond1hons requisite to a lair sale, the buyer and seller, each actmg prudently, knowledgeably and assum,Og the pnce 1s Oot r1Uected by undue stimulu::. lmol1c11 m lh1s def1rnllon ,s the consummatton of a sale as of a spec1hed dale and the Passing of title from sei1er to buyer under cond111ons whereby (1) buyer and seller are typically mollvated. (2) both parties are well informed or · ell advised and each act,ing ,n what he cons1dcrs his own best mteresl

(J) a' reasonable time 1s allowed for exposure irl the open market. (4) payment 1s made m lerms of cash in U S dollars

or.·, terms of financ,a1 arrangements comparable thereto and (5) the pnco represenls the normal cons1derallon for the p P 1.Y. so1'1 unaff. cte by sp?C1a1 or creative financing or sales concessions· granted by anyone assoc1ated with th sale


•Ad,uslments to·the ·compa'ra,bles must be made for special or crea1tve financing or sales concessions No adjustments arc necessary for ihose costs which are normally paid by sellers as a result of 1rad1llon or 1a'w m a market, these costs are readily 1dent1f1able since the seller pays these costs m virtually all sales transactions Special or creative t1nancmg

adjustments can be made 10 'the comparable property by compansons lo fmancmg terms offe,ed by a third party mshtuhonal lender that ,s not cltready mvolved m the properly or transaction Any adJustment should not be calculated on a mechanical dollar for dollar cost or the financing or concession bul the dollar amount of any adJustment should approximate the market's reac11an to the financmg or concess1ans based an lhe appraiser's Judgment


STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION


CONTINGENT AND LIMITING CONDITIONS· The appraiser's cert1ficallon that appears 1n lhe appraisal repor11s sub1ecl to the following condttJans


The appraiser will not be responsible for matters of a legal nature that affect either the property bemg appraised or· the t1lle lo 11 The appraiser assumes Iha! the title 1s good and marketable and, therefore, will not render any op1ntons aboul the Ml'? The propef1y 1s appraised on the basis of 11 being under responsible ownership


2 The appraiser has provided a sketch in the appraisal report lo shaw approximate dtmens,ons of the ,mprovements and lhe sketch 1s included only 10 assist the ,eader of lhe report m v1suallzmg the property and unders1and1ng the

1 appraiser's deterrnmat1on of 11s s11e


The appraiser has examined the available flood maps Iha! are provided by the Federal Emergency Management Agency

{or other data sources) and has naiad m the appraisal report whether the sub1ect s1le 1s located 1n an 1dcnt1fied Special Flood Hazard Arca Because lhe appraiser 1s not a surveyor, he or she makes no guarantees, express or lfllphed, regardmg this determmat1on


The appraiser will not give tesllmony or appear m court because he or she made an appraisal of lhe property m question, unless specific arrangements to do so have been made beforehand


5 The appraiser haS estimated the value of lhe land 1n the cost approach at its highest and best use and the improvements al their contributory value These separale valuations of the land and improvements must not be used m con1unct1on with a y other appra1s I and are 1nvahd d lhey are s used

" ' ' .

5:.i 1 ap :-a1ser has 'noted 1 lhe appraisal report any adverse condiltons (such as, needed repairs, deprec1at1on. the presence

· ii f1

h ard wasles· tox1 subsiances. etc} observed dunng the mspect1on of the sub1ect property or thal he or she became aWa;e of dunnQ the·norma 'iesearch involved m perfornung the appraisal Unless olherw1se slaled m the appraisal report, the appra1Ser ha :no. knowledge or any hidden or unapparent cond1!1ons of the property or adverse environmental cond1l1ons (ineludmg the pre.sence of hazardous wasles, lax,c subslances, etc) that would make the property mare or less valuable, and has assurned lhal there ·are no such cond1hons and makes no guarantees or v.rarranhes, express or 1mphed, regarding

1he cond1t1on of the property The appraiser will nol be responsible for any such cond1t1ons thal do ex1sl or for any engineenng or leshng that might be requrred to discover wtlether such cond1t1ons exist Because the appraiser ,s not an expet1 m the field or environmental hazards, the a pra1sal report must not be considered as an environmental assessment of

the property


The appraiser obtained the mformatron, estimates, arid opm1ons thal were expressed 1n the appraisal report from sources 1hat he or she considers lo be rehable and believes them lo be true and correct The appraiser does not assume respons1bal1ty for the accuracy of 'su h items that were fum1shect by other part,es


  1. The appraiser ,n not disclose the contents of the appraisal report except as provided form the Urnform Standards of Praress1onal Appraisal Practice


  2. The appraiser has based his or her appra1sat report and valua11on conclus1on for an appraisal thal 1s subJect lo sahsfactory completion, repa1rs, or alterat,ons on the assumption that complellon of the tmprovemenls wtll be performed m a workmanbke manner


AD 11NlSTR.tJi.T.lVE r,o ,1PLA NJ The appraiser must provide his or her prior written consent before the lender/clienl specified 1n the appraisal repor1

,:: i , . 1 ,

' -

-"

· . ' I :/.-

· 1 J,


din d1stnbute the appraisal report (mcJud1ng conc1us1ons about the property value, the appra,ser"s 1dent1ty and professional designations and references lo any professional appratsal or9antzat1ons or the firm w1lh which the appraiser 1s associated)

r

-----..-- --- -...Jll.all er than the borrower the mortgagee or its successors and assigns, the mortgage msurer, consultanis, praress10nal appraisal orgamzations, any slate or federally approved financial inst1tut10n, or any department, agency,

1

, ····-·· -•... "

or mstrumentahty of the United States or any slate or the 01s!ncl of Columbia, except that the lender/client may d1stnbute

·----iiie'p'rciPe'rty descnpllon sectton of the report only ta data collecllon or reporting serv1ce(s) w1lhoul having to obtain lhe

appraiser's pnor wntten consent The appraiser's wntlen consenl and approval must also be obtained before the appraisal

KA

can be conveyed by anyone to lhe pubhc through advertising, pubhc tela_t1ons, niws, sates,e rume1i:1 \,N\

,,I th/111'\\ISl IVC.

l'f.

Page-12-01-16-

Freddie Mac Form '139 (6 93) ChckFORMS AppraisaiEs'ox'ttwHare\8800\-6122.-8-71;!r- .:,.::;,:":).!'?--------fa-""_'_' Mae Fann 10046 (8 93)

PAGE

    57 OF



SERVICE APPRAISALS

F,le No RF-1102-05

Case No


APPRAISER'S CERTIFICATION The App1a,ser certifies and agrees lhat


I have researched the sub1ect markel areci and have selected a minimum of three recent sales of proper11es most s1m1!ar and proximate 'to the subJeCI property for cons1dera11on m the sales c-.ompanson analysts and have made a dollar adJtJ!'.lment when appropnale to reflect lhe market reactton to those ,1ems or s1gn1f1cant vanat,on If a significant item ,n a comparable property ,s superior 10, or more favorable than, the sub1ect property I have made a negatu1e adiustmenl lo re<1uce the ad1usled sales price of the comparable and, 1f a s19n1f,cant item in a comparable property 1s tnfenor to, or less favorable than the subJect proper1y, I have made a pos1t1ve ad1ustmen110 increase the adJusted sales pnce of the comparable


I have taken ,nto cons1derat,on lhe factors 1hal have an ,mpac:t on value m my development of the estimate of market value m th appraisal report' I have not knowmgty withheld any stgmhcanl information from the appraisal report and I believe to lhe best of my knowtedge that all statements and information in the appraisal repor1 are true and correct


I slated m the appraisal report only my own personal, unb1ased, and professional analysis, op1rnons. and condus10ns, which are sub1ect only lo the .con1mgent and _11m1hng condrl1ons specified in this form


.4 l have no present or prospective interest m the property that 1s the subJect to this report, and I have no present or

  • 1 prospective personal inter·est or bias w1lh respect to the parllc1panls in the transaction I did not base. either partially or

-Coinpletely my analysis and/or lhe estimate of market value m the appraisal report on the race, color, rel191on, seJC,

,,h d1cap, fam1r1ar slatu_s,'or national ong1n of etther the prospective owners or occupants of lhe subJect property or of the

,present owners or_ occupar;its of the properties m lhe v1c1rnly of the subiecl property


I have no present or contemplated future interest ,n the subiect property and neither my current or future employment nor my compensation for p rforming this appraisal 1s conttngent on the 1;1ppraised value of the property


6 I was nol ,equ1red to report a predetermined value or d1rechon m value that favors the cause of the chent or any related party, the amount of the value eshmale, the atlammenl of a speofic resut1, or !he occurrence of a subsequenl evenl m order lo receive my compensal1on and/or employmenl for performing the appraisal I did not base !he appraisal reporl on a reque;..ied minimum valuation, a speCJfic valuation or the need to approve a specific mor1gage loan


I performed th,_s appraisal m conformity with the Umlorm Slandards of Professional Appraisal Practice that were adopted and p'romulga1ed by the Appra1sal Standards Board or The Appraisal Foundation and that were m place as of lhe effective date of lh1s appraisal, with lhe exception of lhe departure prov1s1on of those Slandards, which does not apply I acknowledge that an est1rnate of a reasonable hrne for exposure m the open market is a cond1t1on m the deftnihon of market value and the est1ffia1e I developed 1s cons1stenl w1lh lhe marketmg t1me noted m lhe neighborhood section of this report, unless I have o1herwise staled 10 lhe reconc111al!on secl1on


6 I have personally mspecled lhe mtenor and exlerior areas of the sub1ect property and the extenor of all properties hsled as comparables m the appraisal report I fur1her certify that I have noted any apparent or known adverse cond1l1ons m the subJecl,1mprovements, on lhe sub1ecl site, or on any site w1thm the 1mmed1ate v1c1n11y of lhe subiect property of which I am aware arid have made adJuslments for these adverse cond1hons m my analysis of the property value to the extent Iha! I had market evidence lo support them I have also commented about the effect of lhe adverse cond1t1ons on the rnarkelabllHy of the SUbJeCI proper1y


9 I personally prepared alt conclusions and opinions aboul the real esta1e that were set forth m lhe appraisal report If J rel1cd on s1gnifican1 professional assistance from any md1V1du I or ind1v1dvals 1n the performance of the appraisal or the preparallon'of the aopra,sal repor1 I have named such 1nd1v1dual(s) and disclosed the specific tasks performed by them in the rcconc1hallon scc11on of this appraisal report I certify that any 1nd1v1dual so named 1s qualified to perform the tasks I have not aulhonzed anyone to make a change to any 11cm m lhc report lhernfore, ,fan unauthonzed change 1s made to the appra,sal report I will take no respons1b1hty for 11


. SUPERVISORY APPRAISER'S CERTIFICATION If a supervisory appraiser signed the appraiser report. he or she

· Certifies and agrees that I directly supervrse:· the appraiser who prepared lhe appraisal report, have reviewed the appraisal feP'9r1 agree·w,1h (he sta ·ments and conclus10ns of lhe appraiser, agree to be bound by the appraiser's cer11fica!Lons rlulnbered 4 ih'ropgh 7 abOve and am takmg full respons1b1l1ty for the appraisal and the appraisal report



AODRESS OF PROPERTY APPRAISED. c1-=.07,_,6,,,6-'V'""E"'R""S""A IL"°LE,,_S"-"'B=-LV:.cD"-'-W:.:.=Eccllccl'-'-NG='-TO=eN'-'F-'L


l'\1./IYI I I\J1STRA f I VE

o:H1s1r -!f--{

:: l\Gt.. I-'f--..-·-

COiVi.PLAl


ffPPRAISER· SUPERVISORY APPRAISER (only 11required)

Signature                                      Name                                                                                       

Dale Signed                                                                  

State Certification#                                          Stale Cert1ficat1on #                                                           _

- cen'se #                                                                              oState license#

\', n\:,               

Stale FL State ,-.,...--

Exprrallon Date of Cert,ficahon oi License 11130/06 Expiration Date of Cert, 110,

· ·- O Did v O ClJd,Ndt•IFi\°pect'Property

-1.J\Vl\\ ,..:,,1 111.II ..


Fredche Mac Fo«n 439 a 93

ChckFORMS Appraisal Software 800-622- 7

·EXHIBIT#_


FOrm 1CXMU 6 9J

Page 13 of 16

PAGE

,) z_ OF


SERVICE APPRAISALS

SUBJECT HIST0°RY ADDENDUM File No RF-1102-05

Case No

Borrower LENZER BURTON                                                                                                                                                                

 yAddress 10766 VERSAILLES BLVD

C,ty WELLINGTON   County      PALM BEACH                                     FL                  Zip  Code          33467         

Lender/Cltent WCS LENDING, LLC                                                                                                                                                         



In develop1f'II'? a real estate appra1sai. an appraiser musl consider. analyze and disclose

  1. Any current agreemenl of sale, ophon or l1shng of the p,operty bemg appraised


  2. Any pnor sale of lhe subJeCI propeny bemg appraised lhat occurred wolhon lhe lollow,ng hme penods


    1. one (1) year for 1•4 family ,estdent1al property, and


    2. three years for all olher property types

The app1a1ser has attempled to obtain specific 1nformat1on on the subIect property with the followmg findmgs

[K) The ,Ub1ect property has had no change of ownership during the past one (1) year

0 The su 1ec1 property as had no change or ownership dunng lhe past 1hree (3) years

0 · The sub1ect proper1.Y ,s currently under contract Detalis of the pending purchase.arc summanzed below

0 The subJecl property 1s currently offered for sale, llstmg pnce 1s S                                                        _

0 The subJect property has been sold during the past one (1} year pcnod Oelalls of the prevK>us sale are disclosed below

0 The subJecl proper1y tS proposed construction and 1s not currently being offered

0 A previous sale history of the property could not be obtained by the appraiser in the normal course of business

Grantor/Qwr;er of Record

TRANSEASTERN VERSAILLES. L"L_C ---------------

Granlee/Purchaser

LENZER L BURTON JR                                                                                                     

Conlract Pnce/Sale Pnce

$834,077                                                                                                                                                       

Date of ContracVSale

DEC 2003                                                                                           

Comments

AU,I\IIINl TRA· 1\IE CO\\I\PLAINl

ChckF }A'M'i,JJso,i#r.i,. ,622-8-727 --.------:P:":a g'.:"e--7':, -;,-;6

PAGE Sj_    OF


SERVICE APPRAISALS

Case No

USPAP COMPLIANCE ADDENDUM FIie No RF-1102-05



APPRAISER'S CERTIFICATION

The fonow,ng Cert1f1cat1on statements ar.e 1n add111on to and may supercede the signed Appraisers Cert1ficallon auached to this appraisal report This Apprarset,s Cert1ftca1,on 1s compliant with the current ed1l1on o1 the Umlorm Standards of Professional Appraisal Practice


I cerllfy that, tO the best of my knowledge and behef


The statements of fact contained m this report are true and conecl


The reported analyses opm,ons and conclusions are l1m1ted only by lhe reparlcd assumptions and hm1ting conchttons and are my personal 1mpart1al, and unbiased professional analyses opinions, and conclus1ons


I have no present or prospective interest m the property lhal1s the sub1ect of this report and no personal rnteresl with respect lo the par1ies invotved I have no bias With respect to the property that 1s lhc sub1ect of this report or to the parties invoved With this asstgMlent

My engagement m th1s assignment was not contingent upon developing or reporting predetenmned results


My compensahon for complctmg this ass1gnemcnl 1s not contingent upon the development or reporting of a predetermined value or direction 1n value that favors the cause of the chcnt, the amount of the value op1mon, the attainment of a stipulated result or the occunen"ce of a subsequent event directly related to the intended use of this appra1-;al


My analyses, opm1ons, and conclus,ons were developed, and this report has been prepared m conforrn1ly with the Uniform Standards of Professional Appraisal Practice


I (K]haveOhave not made a personal inspection of the property that rs the sub,ect of this report (If more than one person signs this cert1hcat1on, the cert1ficahon must clear1y specify which 1r1d1Vlduals did and wt11ch individuals dtd nol make a personal 1nspect1on or lhe appraised property )


No one provided s1gntf1cant real property appraisal assistance to lhe person signing this cert1hcallon {11 there are excepl1ons the name of each

mdMdual prov1d1ng stgmficant real property appraisal assistance must be stated )


PURPOSE, INTENDED USE, AND INTENDED USER OF THE APPRAISAL

The purpose of the appraisal 1s to estimate the market value of the sub1ect property as defined in this report as of the effcct,ve date of this report The intended use or the appraisal 1s to assist the ct1cnt ond any other intended users in the underwnting approval, and funding or the mortgage loan The intended users of this report are the stated chant and any olher 1nstllut1ons involved an the underwnting approval, and funding of 1he mor1gage loan No one e!se. 1nclud1ng the purcnaser and seller, should ,ely on !he estimate of value or any other condus1ons contained 1n lh1s appra1sat report


ANALYSIS ANO REPORT FORM

The appraisal 1s based on the information gathered by the appraiser from public recorcls, other 1clent1hed sources 1nspect1on of the suh,ect property and neighborhood and lecbon of comparab sales, tiStings and/ r rentals within the subJect markel area


The ongmal spurce of the comparable data dcscnbed m lhe Data Source sec110n of the market gnd along with the source of conhrmauon provided where avmlabte the 0091nal source 1s presented first The sources and dala are considered rchable When conlhctmg inlo,mahon was p(ov1ded source deemed moSt reliable has been used Data believed to be unreliable was nol mcluded in the report or used as a basis for the value conclus10 The extent of the analy ,s to this asstgnmcnt ,s slated in the Appraiser's Cert1hca1Lon included above and attached to this repun


DEFINITION OF INSPECTION

The term "Inspection", as used m this report 1s not the same level of mspect1on that 1s required for a' Professional Home Inspection The appraiser does not fully inspect the electncal system plumbmg systems, mecnanical systems, foundation system, floor structure, or subfioor The appraiser 1s nol an expert 1n construc11on matenals and the purpose of the appraisal ,s to make an econormc evaluatton of the subJecl property II lhe chent needs a more detailed inspection or the property a home inspecl!on by a Proless,onal Home lns ctor 1s suggested


DIGITAL SIGNATURES

The s,gnature(s) affixed to this report, and ccrt111callon were apphed by the original appra1ser(s) or supervisory appra1ser and ,epresent their acknowledgements of the facts, opinions and conclusions found in the ,eport Each appra,sc,(s) apphed h1s or her signature eleclromcaUy usmg a password enaypted me!JlOd Hence tllese stgnalures have more safeguards and carry u,e same vahd1ty as the md1v1dual's hand applred signature II the report has a hand.applied stgnature, this comment does not apply


OPINION Of MARKET VALUE VS ESTIMATE OF MARKET VALUE

The current UmfOffTI Standards of Professional Appraisal Practice defines the market value conclusion as an opm1on of market value and not in

estimate al market value •


,-,i) M!l\1lST R./l.T t VE

;;


COMPLAI.N]


THREE YEAR SALES HISTORY FOR THE SUBJECT PROPERTY

The appraiser has compiled W1th Standards Rule I-Sb and 2-2b (1x) requ1r1ng the appraiser to analyze and reporl all sales of the sub,ect property that occurrod withm the three (3) years pnor to the effechve date of the appraisal If this 1nformat1on was ava,lable to the appra1ser{s) 1t 1s reported

- ...the sublect column of Sales Companson Analysis section of the appraisal report


EXPOSURE PERIOD

I Lk _

-----+""'91111dying the sales at s1m1lar comparable residential properties with value ranges as 1dcnt1fied m the Neighborhood section of lh1s report and d1scuss10n:; with md1v1duals knowledgeable of current neighborhood trends m the sub1ect area the appraiser feels that the exposure time for lhe

,..AG,. _.

...:

... - ... ·-----.

t property 1 equ I !o,the md caled M,rket1ng,T1me tdenllf1cd m the Neighborhood section of this appraisal report

.-- i'·! '. . • . ' '

S nature

Signature                                                                            Did O id Not

Name G e •.

Oate Report S,gned'November 18 2005

State Cert,hcat,on # RZ967 Or State License ti

Name


PAGE S'I OF

Inspect Property



SERVICE APPRAISALS

APPRAISAL AND REPORT IDENTIFICATION File No RF-1102-05

Case No

Borrower LENZER BURTON                                                                                                                                                              Property Address 10766 VERSAILLES BLVD                                                                                                                                    

C1ly WE'alNGTON Coun1y       

P!cA=LM""-'Be,E:,A_o,C::,11'-' 'Se,l,<alese,._,            .,_F_,,L  

_,Ze,,1.,_p_,,Cc"o"-dee ,3346_?  

Lender/Chen! WCS LENDING, LLC Address 6501 Congress Ave , Thtrd Fir, Boca Ralon FL 33487


This Appraisal conforms to one of the following defm1t,ons


[Kl Complete Appraisal

The act or process of eshmahng value, or an esI1male of value performed without ,nvok1ng the Departure Prov1s1on

  1. L1m1ted Apprarnal

    • The act or p,ocess of estimating value, or an esl1mat1on of value, performed under and resulting from invoking the

Departure Prov1s1on

This Report 1s !t oftheronowmg lypes

0 Self Contained Report

A written repor1 prepared under Standards Rule 2-2(A) of a complete or hm1ted appraisal performed under Standard 1

0 Summary Report

Awnnen repor1 prepared under Slandards Rule.2-2(8) of a complete or hm1ted appra,sal performed under Standacd 1

0 Restncted Report

A wntten report prepared under Standards Rule 2-2(C) ot a complete or hm1ted appcaIsal performed under Slandar 1

Comments on Appraisal and Report ldent1ficat1on

Note any departures from Standards Rules 1-2, 1-3, 1-4, plus any USPAP-relatod issues requmng disclosure

,\

f-.--------·-· 1

l 1

f------- ------------------------·-···· 1

f-.----------------------·------' 1

1------------------------------------------·---

--- """.,..,..,,..,..,HC' f'nl\111-11-lllNTI

""-'.:u:·:.:_'v.:..1:...•_,,1, _1_...;,_1_,_,._., ·

i

'( :...,. 'I -. i • 4'1

- -

I

-

.

. )

. .

(£1ic ('Qij StA/,pra,,,i M.l).800,6J2,87.27

PAGE 5 - OF

Page ·15· of 16

                                                        INVOICE                                                             

Date November 18, 2005

Fole No RF-1102-05

Case No

Prepared for

WCS LENDING, LLC

501 Congress Ave

Third Fir, Boca Raton, FL 33487

Property Appratsed


LENZER BURTON

10766 VERSAILLES BLVD WELLINGTON, FL

, Work Performed

Please make checks payable lo


SERVICE APPRAISAi.!,

4552 Highgate Dr

Delray Beach, FL 33445

c1 J IVI I \\II..:> 1 I\,

.

wA l tV t. t.;OMPLA\Nl

PAGE


'--'A'--PPc.;Rc.::A.;:.l=SA'-"L"-O;::..:...F.:.;Ac,Sc:.;INc:.;G:.,L==E,..,F.c_A"'M"'IL::.,Yc.;Rc:;E:.:S,.,_10.,-,E,,,N-"C"-'E" $ --"40:.:0c..coc.cco

$

$ _

_.                 --'------------------- $ _

------'-----------------$      

$


Total Amount Due $ _....:,4:,e.00"-"0"-0



                                                     INVOICE                                                       

Dale November 18, 2005

File No RF-1102-05

Case No

Prepared lor


WCS LENDING, LLC

6501 Congress Ave

Third Fir , Boca Ralon, FL 33487

Property Appraised


LENZER BURTON

10766 VERSAILLES BLVD NELLINGTON, FL

Work Performed

                                                                                                                                                   

:..:A:...PP:._;R..::A..::l.::cSAc;;L:c.O.::c:...F.:.;AcoS:.clN..::G,<!L""E'-'F-'-A-"'M""ILe.:Y'--'R..::E=.:S:.:.ID:.E=cN..::C,:.:E=--------- $ 40 0 0 0

$

                                                                                                                                $                             

$

_

Tolal Amount Due $ 40 0 .0_0

Please make checks Payable to

SERVICE APPRAISALS

4552 HIghgale Dr

Delray Beach, FL 33445

t\DM!NlSTP t.:'.''E CO'VPLAINT.

Y. ·-i '.·.:, ;;

_, 4 ur

.,.....---

-.-:..J '-    

i-\UIVI\NISTRA;J;IVE co PLAINlI Sl

--

ct . f F'l'''"'# soo-s22-a121

PAGE

 57 OF ..--


PI15!022 COMPETITIVE MARKET AN ALYS IS 01/20/0( PAGE. 11 A PREPARED BY· SCB ,UNDING GROUP

SUBJECT

73-414424-05-000-4240 BD BTH SQfT SLU CLC W G V LOT SIZE

3520 PALAIS TERR 3 2 0100 14,374 C O R R E L A T E D P R O P E R T Y A V E R A G E S

,i::

SCI\N •ED 484 fOLIOS fOR 12 MATCHES AVERAGING 4,401 SQ/IT @ $3022 37 /SQ,1 SALE-HIGH 61,318,000 LOW' 581,000 AVG· 6,137,819 AVG ASMT 259,'02( AVR 23.696 ASSESSED RATIO AMT: 3,080,480 LIVING SQ fT AVERAGE: C X PROPERTY ADDRESS BO BT LIVSQf DATE SALE AMT DT I LOTSZE T SQFT$ YB AVF 10275 TRIANON PL 3 2 0 1105 700000 WO 11325" 97 8.E

3610 ROYhLE TERR

3

4

3917 1105 1095168 SW

6969

279 5 03 2.E

10678 VERSAILLES BLVD

3

2

0 0905 885000 WD

11325

97 7.:

3608 COLLONADE DR

3

2

0 0805 1040000 WD

9147

97 1 S

10273 TRIANON PL

3

2

0 0805 900000 SW

11325

97 1.3

73-414424-05-000 2630

3

4

2773 0805 61318000 SW

6969

112.5 03 4.0

10707 VERSAILLES .BLVD

3

2

0 0805 1650000 WO

11761

97 2.6

3518 TURENNE WAY

10771 VERSAILLES BLVD

3

3

3

2

4181 0705 1092000 WO

0 0705 1260000 WO

16552

12632

261.l 03 2.2

97 9.6

3597 ROYALL£ TERR 3 6 6959 1105 2418000 WO 12196 347 4 03 3.,







3600 COLLONADE DR

3

2

0 0205 714662 WD

8712

97 8 2

10329 TRIANON. PL

3

3

4174 0205 581000 WD

8712

139.l 03 1.3

--jf_

./Ji._


X=VIEW D=DELETE fl=SHifT DATA f4=MORE f6=ALTER SEARCH f7=SUBJECT flO=HELP PI 15 « ADD A COMP » RE


of/.s· o ; t.i

l pn.fvA4-


YJS


I

_,i,,,, :I



ADMlN!STP.A T:11E S0}, FLAINT

EX ·itBIT :if_.J.. _

)

ct,


l&o


Docket for Case No: 11-005638PL
Issue Date Proceedings
Dec. 27, 2011 Order Relinquishing Jurisdiction and Closing File. CASE CLOSED.
Dec. 27, 2011 Motion to Relinquish Jurisdiction filed.
Dec. 22, 2011 Notice of Telephonic Status Conference (status conference set for January 4, 2012; 2:00 p.m.).
Dec. 21, 2011 Motion to Compel filed.
Dec. 21, 2011 Motion to Deem Admitted Petitioner's Request for Admissions filed.
Dec. 09, 2011 Notice of Transfer.
Nov. 30, 2011 Order Allowing Withdrawal of Counsel.
Nov. 21, 2011 Petitioner's Response to Motion to Withdraw as Counsel filed.
Nov. 18, 2011 Motion to Withdraw as Counsel filed.
Nov. 14, 2011 Order of Pre-hearing Instructions.
Nov. 14, 2011 Notice of Hearing by Video Teleconference (hearing set for January 11, 2012; 9:00 a.m.; West Palm Beach and Tallahassee, FL).
Nov. 08, 2011 Joint Response to Initial Order filed.
Nov. 08, 2011 Notice of Intent to Present Aggravating Evidence filed.
Nov. 08, 2011 (Agency) Final Order filed.
Nov. 03, 2011 Initial Order.
Nov. 03, 2011 Petitioner's First Request for Production to Respondent filed.
Nov. 03, 2011 Notice of Serving Request for Production to Respondent filed.
Nov. 03, 2011 Notice of Serving Request for Admissions filed.
Nov. 03, 2011 Notice of Serving Interrogatories filed.
Nov. 03, 2011 Notice of Scrivener's Error filed.
Nov. 02, 2011 Notice of Appearance (filed by R. C. Stone).
Nov. 02, 2011 Agency referral filed.
Nov. 02, 2011 Motion for Final Evidentiary of Hearing filed.
Nov. 02, 2011 Administrative Complaint filed.

Orders for Case No: 11-005638PL
Issue Date Document Summary
Aug. 26, 2009 Agency Final Order
Source:  Florida - Division of Administrative Hearings

Can't find what you're looking for?

Post a free question on our public forum.
Ask a Question
Search for lawyers by practice areas.
Find a Lawyer