Aff - Madison, Jasper_6/27/2007T � �' � t'?GY�i� �`°�-k+`F3�.�,! `�,°Y ."G d -: .'',.. � . ... �� r��:. _ . - � . " ' .
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STATE OF INDIANA )
) SS: N RE: JASPER MADISON, DECEDENT
COUI`'TY OF GIBSON )
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AFFIDAVIT FOR TRANSFER OF
REAL PROPERTY AND PERSONAL PROPERTY
1. That the above-named decedent died intestate on the 20`h day of February, 2006, while
domiciled in Gibson County, Indiana. �
2. That 4� days have elapsed since the death of the decedent.
3. That no application or petition for the appointment of a personal representative is pendin�
or has been granted in any jurisdiction nor is any administration contemplated.
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That the foliowing named persons are the only heirs of the decedent.
a) Debra G. Hobbs
1134 Earhart Street
Indianapolis, II�' 46203
Adult daughter
b� Sandra Daniel
'= 3�30 E. Orange Street
��Q Indianapolis, I�' 46203
� � Adult daughter
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.� c�i Foronda Madison
J� z 3»3 E. Orange Street
d Indianapolis, II�' 46203
� Adult daughter
d) Kandace Madison
326� I�'. Butler Street
Indianapolis, IN 46218
Adult daughter
>. That the value of the decendent's gross probate estate, less liens and encumbrances, does
not exceed $�0,000 as provided by IC 29-1-8-1 and the costs and expenses of administration and
reasonable funerale�penses.
6. That among the decedent's probate assets is a parcel of real estate owned by decedent
located in Gibson County, Indiana, and more particularly described as follows:
'?{' � � '- � 'ea.+::�. �7yY'-.
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A part of the West Half of the NoRheast Quarter of Section 5, Township 2 South, Range
11 West, described as follows: Begin at a point 21 chains and 51 links South of the
Northeast corner of said half quarter section and run thence West parallel with the NoRh
line thereof 11 chains and 261inks to the center of the Richland Diich; thence up said
Ditch South 38 degrees East 3 chains and 371inks; thence South 76 degrees East 7 chains
and 74 links; thence South 40 degrees East 2 chains and 32 links to the East line thereof;
thence North along said East line 5 chains and 54 links to the place of beginning,
containing 3 9/100 acres, more or less, excepting therefrom part of the �Vest Half of the
I�'ortheast Quarter of Section �; Township 2 South, Range 11. West in Patoka Township
and more particularly described as follo«�s: The place of beginning may be found at a
point on the East line of said half quarter section, fourteen hundred nineteen and sixty-six
hundredths (1419.66) fee (21 chains, 51 links) South of the Northeast comer thereof;
from said place oF beginnin� run thence South along the East line of said half quarter
section one hundred and no hundredths (100.00) feet thence West and parallel to the
North line thereof t�ro hundred seventeen and eighty hundredths (217.80) feet; thence
I`'orth and parallel to the East line thereof, one hundred and no hundredths (100.00) feet;
thence East and parallel to the A'orth line of said half quarter section rivo hundred
seventeen and eighty hundredths (217.80) feet to the place of beginning and containing
0.�000 acres. Containing afrer said exceptions 2.59 acres more or less.
which has an appraised value of 56;�00 as evidenced by the attached appraisal of h4orrow Real
Estate denoted as Ezhibit A.
7. That the following is a full description of all the personal property belonging to the
decedent, together �aith the estimated value thereof according to the best knowled�e and
information oFthe affiant herein:
a)
b)
titassey Ferguson 7i0 Combine
Serial nHVMF7�OKD21384
198� Dodge pickup
V IN� 1 B6�4D34�VOF�63» 17
Value $2.500.00
Value S �00.00
each heir at law described above «ould recei��e an undivided'/<% of said above-described
perso.nal propeRy.
That there are no kno«m creditors of decedent's estate.
9. That the indi��iduals entitled to the real estate as a result of the decedent's death aze the
decedent s heirs at la�v as follo�� s:
a) Debra G. Hobbs
1134 Earhart Street
Indianapolis, IN 46203
Adult daughter
(undivided '/a%)
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+ & � +.
b) Sandra Daniel
3530 E. Orange Street
Indianapolis, IN 46203
Adult daughter (undivided '/<%)
c) Foronda Madison
3�53 E. Orange Street
Indianapolis, IlV 46203
Adult daughter
d) Kandace Madison
362� I�'. Butler Street
Indianapolis, IN 46218
Adult daughter
(undivided '/<%)
(undivided %%)
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10. That the affiant herein has notified each person identified in this Affidavit of the affiant's
intention to present an Affidavit pursuant to IC 29-1-8-1.
1 l. That the affiant is entitled to delivery of the aforementioned property to be distributed as
herein set forth.
12. That the decedent's estate �vas less than the value required for the filing of a federal estate
tax retum and; as a consequence, �vas not subject to federal estate tax. Further, the decedent's
estate �vas not subject to Indiana inheritance ta�.
Debra G. Hob�
ll34 Earhart Street
Indianapolis, IN 46203
Adult daughter of Jasper Madison, deceased
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STATE OF INDIANA )
) SS:
COLJNTY OF A�to
Before me, a Notazy Public in and for said County and State, personally appeazed
DEBRA G. HOBBS; who ackno�vledged the execution of this Affidavit, and who, having been
duly sworn, stated that any representations herein contained aze true.
,::��„�„�.�:..:.
\VINESS my hand and Notarial Seal this � day of�, 2007.:: '';'"'�� ��;.,:�_".,
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\•S�� Commission Ezpires:
Printed I�'ame of I�'otary ublic '
Resident of ir.o �County,
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_ � - • Jasper MadiSOn EsWte
_ Flla No. 1887N
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REAL PROPERTY APPRAISAL OF
THE PROPERTY LOCATED AT
RRk3 Box 266
Prince;on, Indiana 47670
as of
June 21, 2000
for
Jasper Madison Estate
by
Monax Real Estate
P.O. Box 276
Princetan,l� 47670
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October 21, 2006
Jasper Madison Estate
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Morrow Real Estate
P.O. Box 276
Princeton,IN 47670
812-386-7525
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Property - � RRX3 Bax 2'06
Prince;on, IrCiana 47670
Borrower - Jasper Madison Estate
File No. - 1887v1
Case No. - Jasper Madison Es;ate
Dear :
In accordance with your request, I have personally inspected and prepare0 a Real Property Appraisal Report of the
real property located at RR�3 Boz 266, Princeton, Indiana.
The purpose of the Real ProDerty Appraisal is to provide an oD�nion of the marke; value of the proDer:y described in
;he body af Ihis report.
Enclosed, please find the Real Property Appraisal which describes certain Ca;a gathered during our investigation of
the proper:y. The methods o( approach and reasoning in the valuation of the various physical and economic factors
of the su5ject property are contained in this report.
An inspection of the proDerty and a study of pertinent factors, including valuation trends and an analysis of
neighborhood data, led the aDP�aiser to the condusion that the market value, as of June 21, 2006 is :-
56,500
The opinion of value expressed in Ihis report is conungent upon the Limi;ing Condi;ions attaUeO to this repoY,.
It has been a pleasure to assist you. If I may be of further service to you in the tuture, please let me know.
Respectfuly submi;ed,
Movow R_al Estae
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Dan \N. R7ortow, IFAS
IN License =LR69200887
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Complete �sal Anatysis - Summary Appreisal Report �
Jasper Madison Estate
eo�o..*� Jascer Madison Estate �+�+r�d 505 MaD Retennce
v�ooero bars�+ RR'�3 Box 266
Gry princeton �«+�n Gibson sun Mdiana zw �a 47670
�w.� oe. no�.a., Pt NVJ NE 5-2-17 conL 2.590 acres +!- 1 ' '
e-" P� S Deb IN$�M Lmn Te�m yrs. Perye .ry it1�'s PpraiseE �� Fw u �eax�okl u DB Mlnrt�a PUD
xe�r R� E.x. r.=e. s N/A fn.) ��w• m ee o� M•.�.. z ansr,.i.. �ssia,:
�s�aa•,a �e Jascer Madison Estate �a�+•
o«�ca+� Vacant Mwa�� Don W. Morrow. IFAS m:•.,�r �:�onow.h. Fee Simole
Loo:iw+ �_J UrOen I J SuWroen � z � Ruml
BW[Up I Ovx]5% t5%m)5% X UeWer35X
Gmwtn W:e � FuCy Dev. �� RapE X S:uCy Sbw
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MaM1e:inq ilme J UnEtt J Mos. � 6-6 Mos. O Over 6 Mos.
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Xlndustwl 9QXVa[ant %
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s�ia Fa�,iy P�� w�ye s 10.000 �o s- 95.000 P���.�� v,we t 50 000
s�ia c,�„iy wo. 30 m. e 100 yn. PreCOminan: Aqe 25 m�
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OFF SITE INPROVEMENTS iapo Level
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�Princeton
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Utilities �Available
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concesvons
Nat hG�. (TOUI)
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uD�and and in a more reside�
CortuMn:3 enC CanG'a:s ot A�paivl:
hazards ezist on or near this
addressino the Cost Aooroac
r�.iR�+�: Each sale sh
1 ESiIMNTE iME M/JiKET
N' Miam(s)
Sqnavn
Name fk�n W. Moi
Gross 48.0 %
Gross
Hon Avenue
Gross 80.3 h
oeFlwe o//3�reram ns ov JUn 1 . 200o m ee 56 500
I RMew.4ppraismCQapqiu'Je) U ad DENOtP�ysioNNapeaPevper:y
� Spna:ure
Oab �Q/2�/2��6 Name Deta __
Mortow Real Estate
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�le No. 1887N
• DEF'L�'IT[O\ OF MARKET �IE: rne .�,osi probade c.�ce we,�U e propem sn«,ia er�rq in a. compeuwe ena
open me'tcet uMer all corWltbns raquisita to e(air sale, IAa Duyer erW ullef, eatl� ec4�g pr�tlently. ktw�vletl9�by
entl ass�Mrq ttie price la not affac[atl by untlua stirtaAUS. Impitlt in this tlafrtitim Is t1�e coruurtvr�e�on of a sale
as W a speafietl tlata aM Ne pessirg ot UUe (rwn selltt tn buyer uMer conGi4ons vTereby: (1) Wryar a�W saller
ere typicaly motiveteG; (2) bott� parties era wall Irttortnatl or well edvisatl. end oacf� ecting in wM1ai 1» mnsiOars hla
ovm best interasp (3) e reasanable tirne Is elloweO for ezposure in tt�e open rt�etkaF. (a) payment la rtiatle In tartns
of cast� in U.S. tldlars w in tertns o/ fnanaal artan8ament8 comOarabla tbareto: erW (5) Na ptlCB repr¢san[s Ne
rqrtnal consitlara[ion tor rtia property sdtl vnaXac[etl by special or crea4ve fnantl�q or sales cw�cessions' prantetl
by enyone essoc�aletl w1I1i Ne sale. -
'Adju3[mants ro[he compe�ades must De maCe fo� special w creative fnancirg or sales mxassions. No adjas[ments
are nacesssry for [I�ae cos[s wNCM1 are norrt�ally paiO by xllets as a result o1 4atlition or law In a marke[ area:
BiBSa msb are r0dtlily {tlanlifiaWe since M0 Seller payS NGSe cosK �n virtua�ly ell sales Vansactions. Sperial or
creativa fnaruirg adjustrtfann ran ba metle to [he comparable p�opeRy by cornpariwns to fnenang lcrtnc oRaratl
by a Vurtl party insfitutional lentler tM1at is rot alrea0y invdvatl in Ihe property o� [rensaction. My aCjusUnent
slwultl not be calculated on a mechanical tldlar fo� tldla� cost of V�e fnancing w concessions but the tlollar
ama�nt of any aOjustment sMWC appro:imata tM1e merkeCS reaclion to tbe Mantirg or concessions basetl m the
appraisa�s ju09ment ,
STATEIIE�T OF Li�TITI\G CO\'DiTIONS .1T'D APPRAISER'S CERTIFICATIO�
CO\TI\GENT Ai\� LWllTI\G CO\DITIO\S: rne appratsers cercin�atior� u+ae appears �r+ me eppraisal report
is subject ro Ne following corWitions:
1. Tha eppraiser will rqt be responsibla lor rtianers of a legel nature Nat eHact eitner the propeM1y being appraisetl
w the [i0e b it The appraiser assumes tliat the Iiila is pood antl markatabla erW, therefore. will �wI terWer any
opinions abou� ihe [itle. TM1e property is appraisetl on the basis o/ it be�ng untler responsible ownersliip. '
2. The appraiser has provitled a skatrh in [he appraisal repwt ro slw.v aOP�x���e dimensions o( Na �mprovemen6
antl Iba sketrh is incluOed oMy to essist the reatler o1 tha raport in visualizing 4ie property a�W orMerstantling U�e
appraisars tletermination of its size.
3. The appralser tus ezarttlnetl Vie available (lootl maps that are providetl by Vre Federal Emeeyenty Mana9ement
Agenry (m othe� tlata ewrces) aM hes rotetl �n tM1e eppraisal repoM1 whetM1ar U�e subjecl site is IorateC In an
iCenti(etl Special Flootl Hazard Nea. Because itie appraiser is rot a surveyoq t�e w she makes rw guaranteas,
expmsa or implieC. regarCirg this aeiermination.
4. Tha appraiser will not B��e [es6riwny o� appear in court baceuse he or she rt�atle an aOP�isal of Ihe property in
Qoeslion, vnless spedfc arrangemenis to tlo so M1ave baen matle baforehantl.
5. The appraiser has astirtiatetl [ha value of tM1C lantl �n the cost appmaU at i[s highast arW best vse antl lfie
mprovements et V�eit conVibulory value. Tha separate valua[ions of tM1a IarW end �mprovements musf not ba
usetl in conjwc[ion with any oNer appraisal arW are invalitl if they are w usetl.
6. The apprais¢r bas notatl m Ne appraisal report any ea�erse conCitions (sucM1 as, neetleE repairs, tlepreria[ioq [tie
presenca of nazartlovs wastes, toxic sobstarxes, em.) observatl tluring the inspectim of the subjact pmperty or tnat
M1e or sha becama awem of tlunng tba rwrmel reseamb invdva0 in perfomilrg lba appraisaL Unlass oNarv+ise slatad
in tM1e eppraisal report, Vie eppraiser has rw knowlatlga of any bitlOen or unapparen[ contli0ons of V�e property or
aa�erse ¢OVitorvitentdl COfWi40l�5 (inGWi� Ute ye5C000 OI M1d28rtlovs wd5[B5, tOxiC Sub3�snCC3, eK.) �hd[ wOUltl
maka V�e property mora w I¢ss veluaWe, anC has asst�med 4iai the�e ara rw sucti cwWitiorss antl makes rw
gueran:aes w warrsntias, express w implietl, regardirg Ne corMition of tbe property. The appraisar will not be
responsible fw any such contli[ions Iba[ tlo exist w for any argineenrg or tastirg [M1a[ might ba reqviretl to tliscovet
wM1etlier such coMilions eaisL B¢rause V�e appraisar is rot an espert in Na feld of envirvnmental M1azards. [be
appraisal report must not ba consitlered as an envimnmencal assessment of the propeny.
�. The appraiser obtainetl tbe infortnation, estimaces, erW opinions Nat wara expressetl in U�e aOG��sal report Irom
swrces U�at Iia w sl�a consiCers lo ba ra�iade aM beliaves Viem to be We entl correct The apO�iser tices rwt
assume responsibility fo� Na accuracy of suG� i[ems NaI were tamist�atl by o[het parties.
8. The appraise� will rq[ disGOSe tbe cm:enls of V�e apyaisal report ezcept as pmvitletl fot m lM1e Uni(Ortn
StarWdrtls o/ Professional Appraisal P�actice.
9. The appraiser has basatl his ot �er appraisal report antl valuation conGVSion (or an appraisal thal is subjec[ to
saUSfactory complelion. repeirs, o� allorations on Ihe assumplion tha[ oornpletion of Na �mprovamen[s will be
pertorR�Ctl in a vW/kmBnlike mdnner.
10. The appraise� mvsi provide his ot he� pnor wntten cwtsent bafore We IerWeqdian[ spedfieC m ttie appraisal
rapw[ tan tlisVibute the appraisal raport (indutling condusions abwE eha property value, tha appraisels itlentiry
a�W pro(essirnal tlesigna[ions, arW refere�es to any pro/essio�l appraisal o�ganizations o� Ne (rtn wi[h wMich Ne
appraiser is associatatl) to anyone otM1e� lhan lM1a borrower, Iha mortgagee or i[s successors arW assigrvs: tlie mortpapa
insoraq consul[anls: pT(assional appraisel oryanizations: any state or fetlerdlly app�oved Mandal irtistlNtion: or eny
tlepartment, agcnty, o� insWmantality ol Ne Unitatl States w eny state or [M1e District of Cdumbia; except that
itie IeMtt/Uient may tlisVibule [ha ptoperty tlescription sxUm of Ne report oNy to tlala cdlection o� raporLng
servica(s) vn:bwt liaving to obtain tha eppraisefs priw wnnen consenL Tha appraisers writtan consent erW
apprOVel musl also be obtainetl befora [t�a epptaisal ran be convayed Dy anyo^a to [be public Nrdagh ativartisirq.
public relatlons, news, salas. or other matlia.
Fratltlia Mac Fortn 939 6-93 Paga 1 0l 2 Fannie Mae Fortn t0098 6�93
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. - � , . �Jasper MaGiwn Estate
FOaNO. ���y�
APPRAISER'S CERT[FICATION: 1r+e napreisar cerures arw agraa: mar.
t. I heve rcxarchetl Ne s�bjact me/kat area arW Peve 0elactad e minimum o� tivec raccnt ulas W O�Pawas most
6irtrila� eM p�oxlrt�ete to V�a subjac[ p�oparty (w ConslCe�etion 1n [tie sales cromparison erelysis antl hava rt�eCe a
tldlar atl�usimanl wM1en approD�ata b re9ect lM market reac0on to ttw,a Items of signifrarrt vatlallon. I( e
signifcant item in e comperebla poperty ia supenw to. or mora favor'dble than. Ne subject property. I have mstle
e nagative aEjvsVnent to �etluce Iha etljustetl sales ptlte o1 4�e conipersbla a�, If e signif�ant item. in a compatade
propeRy is inferior to. a lesa fevo�sbla then [M subject property, I have matla a positive atljvstmen[ to increase tbe
atljusiatl salas pnce of Ne comperable.
2. 1 M1ave �akan into consitlera4on [M1e IaGOrs Naf M1ave en impaci on value in rty tlevclopmen[ of U�e estimala o(
rtatkei value in U�e appraissl report. I have �wt knwvirgty witl�heltl any sigrtificant infortnation frotn ttie appraisal
report and I Calieve. to Na best of my kno.MeCge, V�al a�l siatertfen[s aM informa4m in Ne appraisal raport am
we arW mrrect.
3. I sta[e0 in [l�e epO�aisal report only my own parsonal, vnbiasad, anC prvfessional analysis. opinions. and
CO(1Gusion5, w11iCl1 8fE subj@Ci OfNy IO V1G CDfl4flg¢!1l Bntl limi[If18 ��tli40f13 sp0CIf2C in �ltis fOfT.
<. � tiava /w D�esenl or prospectiva in[emst in V�e property tM1ai �s ltie subjcc[ b ttds report, aN I bave no prasent
w prospective pet^.onal intcrast o� bias wiVi raspacl to [ha participants in V�e Vansac[ion. I tliC rwt base, ei[her
paNally or complelely, my analysis entl/or [be estlmata of maMet valua in V�e appraisal report on Itie race. colw,
religion. ses, harWicap, familial statas, or nauonal oAgin ol eith¢r [he prospeclive owners or or.�.cupan[s of tha subject
prvperty or of Itie presenl vwnars or ottvpsnb OI Oie properties in Ihe vicinity of lM1e subjec[ pmparty.
5. I twve �w present or contampinteC fuWre intarest m Via subjec[ property, antl neiV�er my curren[ or tu:ure
emdoyment rw my [ompensalion fo� perlormirq V�is appraisal is conting¢nt on Ne appraise0 value o/ [he property.
6. I was no[ requiretl to report a preGatertninatl value w tliraction in value [bat favors the tause of lha dient or
any ralatetl party, tM1a ariwunt o/ tM1e valua astimato, [ba atlainmant ol a sper'fc result. or V�e occurtence of a
subsequent event m ortler b raceiva my compensation arW/or amployment for pertortning the appraisal. I tlitl rw[
base It�e appraisal report on a requestatl minimum valua[ion, e specifc valua[ion, or 1}ie neeO ro approva a specifc
mortgageloan.
]. I peAOrtned lhis app�aisal in confomJly with the Unitortn Siantlards of Pmfessional Appraisal Practice thal ware
atlopteO antl promulga[ed by Ne Appraisal StantlarCS Board o/ The Appraisal Fountla[ion a�W tM1al were in place as
of lM1e eHective tla[e of this appraisal, with tha axception of [he tleparture provision o� tM1OSe StantlarUS, wM1ich Eoes
rw[ apply. I ackrwwlaCge tOat an estimata ot a roasonabla time (or exposur¢ in the open markel is a co�Wition in
IM1e tlelnition of maMet value antl lha eslimala I tlevalopetl is consis[en[ wiVi [M1e markefing tlme nolatl in V�a
neighborhootl section of tbis report. unless I M1ava otherwise s[a[etl in the reconcilialion section. �
8. I bave personally in5pectatl 11�0 InlBnOr entl ¢+[enOr drBe9 of NC Subjecl property antl Ne eMerior Of HII propeNes
IisteC as comparables m Itie eppraisal raport. I(urtM1er cartity [hat I have nofatl any apparent ot known ativerse
co�qitions m lM1e subject �mprovaman[s, on V�a sublact sita, w on any sita vnthin tha immetllate vicinity of the
su5jec[ property ol whicl� I am awara anO liava matle edjusVnenls tw Nesa ativerse conditions in my analysis ol
Ne ptoperty value to R�e enant [M1at I M1aO market avitlenca to sopport Nem. I na�e also cortvnentatl eboui Vie
eRect o1 [M1e ativarsa conOitions on lha marketability of [he subjact property.
g. I personalty p�epared all conGusions antl opinions eUaII V�e real estata V�at wara set tortli in tbe appraisal report.
I( I relied on sigrJft-anI Prolessional essistanca from any indivitlual or intlivitluals �n Ne pertortnance of the
appraisal or Ne prapa�ation ot Ne appreisal repOrt, I have named such irWivitlual(s) and Cisdosetl tM1e specific tasks
p¢Rpmiatl by [M1em in Itia reconcilinlion saC[ion o1 tNS eppraisal report. 1 certify Itial any iMiviCUal so nametl is
qualifed ro pertortn Ne lasks. I M1ava rot aottwnzetl anyone to rtfake a rhad]e [o eny item in Ne report: [herefora,
it an vnaultwnzetl change Is rt�atla to [he appraisal raport, I will lake �w responsibiliry tor i[.
SL�ER�TSOR1' APPRAISER'S CERTIFICATIO\: u a s�aer.�isory appra�ser s�yoea tne aao��sa� repon, ne w sne
rertiies aM agrees tt�at: I tliracuy suparvise U+e eppraisar wM preparetl the appraisal report. nave rev�ewed tM1e appraisal
report. agree wiUi Na s[atements antl conGusims ol the appreise�. agree to be bound by LM1e aDWaise(s ceNfca:ions
nvmbereO 4 it�mugh ] abova, antl am [aking lull responsibility (or lbe appraisal antl lM1¢ appraisal report.
ADDRESS OF PROPERTI' APPRP.ISED: RR�3 Box 266 Princeton Indiana <7670
APPR4ISER: �i�� SUPER��ISOR1' APPRAISER (ony �t reavirea):
Signamre: Sg^ature:
r�ame: ppn W. Morrow IFAS r�ama:
Date Signea: OCfOber 27 2006 Date sgnetl:
Sta:e Cenifra6on k: State CerLfca6on #:
o� 5tate tice�vse a: LR69200887 or Stata License a:
5tate: ��1 S�ste:
expiration oate ot Ganifimum or Licensa: 06l30/08 F�Piration Date ot Cerufication or License:
O Ditl � Ditl Not Inspett Property
Fretltlie mac Fortn a39 693 Pa9� ��� 2 Fannie btae Form t00<B C+93
Mortow Real Estate
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APPRAISER'S CERTIFICATION:
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Jasper Madison Estate
R Na 10.A>.A
The following Certification statements are in addi;ion to antl may supercede the signed Appraiser's Certification attached ro this appraisal
report. This App2isefs Certification is compliant with the wrtent edition of Ihe Unifortn Standards of Professional Appraisal Practice. �
I certiry lhat, to Ne best of my knovAedge and belie(:
The statemens of fact con;ained in ;his report are true and cortect.
The reported analyses, opinions, and conclusions are limited only by the reported assump;ions and limitirg conEitions antl are my personal,
impartial, and un5iased professional analyses, opinions, and wnGusions. �
I have no present or prospective in;erest in the property that is Ihe subject of ;his report antl no personal interest with respect to the parties
invoNed.
I have no bias with respect to the prope ,ry that is the subjeG of this report or to Ihe parties involved with this assynment.
My engagement in this assignment was not contingen[ upon developing or reporting predetertninetl resul's.
My compensation for completing this assignment is not contingent upon the developmen; or repor;ing o( a predetermined value or direction in
value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a
subsequent event directly related to Ihe intended use of this appreisal.
hty analyses, opinions, and conclusions were developed, and Ihis report has been prepared, in conformity wi;h the Uniform Standards of
Pmfessional Appraiul Practice.
I have (or have no:) made a De�sonal inspection of the property that is the subject of this reDOrL Qf more than one person signs this
certification, the certification must clearly specify which intlividuals did and which individuals did not make a personal inspection of the
appraised property.)
No one provided significant real property appraisal assistance to the person signing this certification. Qf there are exceptions, the name of
each individual providing significant real pmpery appraisal assistance mus[ be stated.)
TYPE OF VALU� (PURPOSE OF THE APPRAISAL) AND DEFINITION OF VALUc:
The purpose of this appraisal is to provide an opinion of the marke; value of .he subject proper;y, as tlefired in ;his report, as of ;he ef(ective
da;e of this report.
I�TENDED USE, A�`1D I,VTENDED USER OF THE APPR415AL:
The intended use of Ihe appraisal is to assist the client and any other intended users in tFe untlerwri;ing, approval, and WnCing o( the
mortgage loan. The intended users of this report are the stated dient and any other insti;utions involved in the underwriting, approval, and
funding of the mortgage loan. No one else, including the purchaser and seller, should rely on [he opinion of value or any other conclusions
wntained in this appraisal repor.
AND REPORT FORPA:
The appreisal is based on the informa�ion gathered by the aDP�aiser (rom public records, other iden;ified sources, inspection ot the subject
pmpery and neighborfiood, and selecGon o( comparable sales, listings, and/or rentals vrithin Ihe subject market area.
The original source of the comparable data described in the Data Source section of the market grid along with the source of confirmation is
provided, where available. The original source is presented firsL The sources and data are considered reliable. When contlicting
information was proviCed, the source deemed mos; reliable has been used. Data believed ;o be unreliahle was not included in the report or
used as a basis for Ihe value conclusion. The eztent of the analysis Io Ihis assignment is stated in Ihe Appraiser's Certi(ication included
above and a.ached to this report.
Mortow Real
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Jascer Madiwn Estate
RRtF3 Boz 266
on c«��n
Jascer Madison Estate
INSPECTION:
Madison Estate
The term 'Inspection', as used in this report, is not the same level of inspection [hat is required for a'Professional Home Inspection'. The
appraiser does nol fully inspect the electrical system, plumbing system, mechanical systems, foundation system, floor structure, or subfloor.
The appraiser is not an expert in construction materials and the purpose of the appraisal is to make an economic evaluation of the subject
pmper,y. If the dient needs a more detaled inspection of the property, a home inspection, by a Professional Home Inspector, is suggested.
DIGITAL SIGNATURES:
The signature(s) affiaed to this report, arC certification, were applietl by the original appraiser(s) or supervisory appraiser and represent ;heir
acknowledgements of the facts, opinions and conclusions found in the report. Each appraiser(s) applied his or her signature electronically
usinq a password encrypted method. Hence these signatures have more safeguards and carry the same validity as the individual's hanE
applied signa;ure. If Ne report has a hantl-applied signa;ure, Nis comment Coes not apply.
OPINION OF MARKET VALUE VS ESTIh7ATE OF MARKET VALUE:
The wrrent Uniform Standards of ProFessional Prectice defines [he market value conclusion as an oDinion of market value and r,ot an
estimate of market value.
THREE YEAR SALES HISTORY FOR THE SU3JECT PROPER7Y:
The appraiser has complied with Standards Rule 7-Sb and 2-2b(ix) requiring the appraiser to analyze and report all sales of the subjec:
property that occurred within the Ihree (3) years prior to the eFfective date of the appreisal. If this information was available to the
appraiser(s), it is reporeG in the Subject mlumn of Sales Comparison Malysis section of the apprdisal report.
EXPOSURE PERIOD
By studying the sales of similar comparable residential properties with value ranges as identified in Ihe Neighborhood section of Ihis report
and discussions wi,h indivitluals knowledgable of current neighborhootl trends in ;he subject area, the aDP�aiser feels that the eaposure time
fw the subject pmperty is equal to Jie indica;ed Marketing Time iden:ified in the Neighborhood section of Ihis appraisal repor,.
APPRAISER: // [ — /�/L�
// ifT/A
Synawn: WCNV�
rva�: Don W Mo ow IFAS
o.:e sq�,ea: October 21 2006 -
Smro Gni'+u:ion a:
n su:. uce�» o: 1 R5g200887
su:e: IN
�..m, wu m c.ry.�:�, w u��,e: O6/30/08
Mortow Real
SUPERVISORV APPRAISER (ONLY IF RE�UIRED):
Sgnamra:
Nane'
oaie siqne¢
sm:e ce�vr�raow, tt:
w Sa:e Licenx e:
Eva�on Da:e o! � 4a:lon Or lltenfa:
� py O pM Nat Inaroct P�ops .ry
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Mortow Real Es:ate