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04.08.2015 City Council Meeting Packet - BOA
MEDINA► SPECIAL MEETING AGENDA MEDINA CITY COUNCIL Wednesday, April 8, 2015 6:30 P.M. Medina City Hall 2052 County Road 24 I. Call to Order II. Local Board of Review and Equalization For the purpose of reviewing and correcting the 2015 assessed property values or property classifications in the City of Medina. III. Adjourn Posted 4.3.2015 TO: Medina Mayor and City Councilmembers Scott Johnson, City Administrator FROM: Rolf Erickson, City Assessor DATE: March 31, 2015 RE: Local Board of Review meeting for the January 2, 2015 assessment Minnesota law requires that the assessor value property at market value. Market value is defined by the Minnesota Department of Revenue as: "'Market value' means the usual selling price at the place where the property to which the term is applied shall be at the time of assessment; being the price which could be obtained at a private sale or an auction sale, if it is determined by the assessor that the price from the auction sale represents an arms -length transaction. The price obtained at a forced sale shall not be considered." Under current law there is no limit to the amount that the market value of a property can be increased any year and the assessor is required to value properties on January 2nd at full market value. AGGREGRATE PROPERTY TYPE GROWTH (Total market value growth of each property type). Individual property changes varied. . 2009 2010 2011 2012 2013 2014 2015 Residential Lakeshore -7.6% -11.0% -.07% 0% -1.3% +2.2% 0% Residential off lake -2.8% -7.9% -5.8% -9.4% +1.6% +3.2% +3.9% Apartment -18.1 % -12.1 % 0% 0% 0% 0% +4.5% Commercial + Industrial -5.4% -6.9% -5% -.03% -3.6% -0.1% +.07% Farm NA% NA% NA NA NA NA NA Condo and Co-op -15% -11.6% 0 -13.2% 0 +1.1% +10% Town houses, Medina Highlands -5.9% -6.7% 0 -2.3% -4.6% +11.5% +3.6% This year the taxable values of Green Acres and Ag Preserve Parcels were lowered slightly. The State values are used throughout the State and they are based on purely agricultural sales from Southwestern Minnesota. Tillable land is valued at $7,700/ac, pasture and woods are valued at $3,800/ac and wetlands remain at $1,000/ac. The rates on the deferred Green Acres and non -Green Acre farmland increased slightly. Current Assessment (2015) Current 2014 Total Market Value $1,378,140,500 2015 Total Market Value $1,488,179,400 2015 Improvements (Included in above 2015) $54,417,200 Net Increase Without Improvements $+55,821,700 4.0% (2015-2014-improvmentts) Market Value: The most probable price in terms of money which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Classification: Classification is the use of a property as defined by state law. The most common classifications are apartment, double bungalow, triplex, commercial, industrial, farm, residential and residential lakeshore. Homestead is also a classification. We have enclosed a book of sales considered for the current assessment as a reference for you. We have also included a summary sheet of the duties and responsibilities of the Local Board of Appeal and Equalization. LOCAL BOARD OF APPEAL AND EQUALIZATION SUMMARY OF DUTIES AND RESPONSIBILITIES Most of the responsibilities listed under the Local Board of Appeal and Equalization are statutory, primarily found in Minnesota Statutes 274.01. • The first responsibility is attendance. The Local Board of Appeal and Equalization is an official public meeting similar to a City Council meeting and cannot convene without a quorum. In addition to the local assessor, the county assessor, or one of his/her assistants is required to attend. • At least one member must be present at each meeting of the Local Board of Appeal and Equalization (beginning in 2006) that has attended an appeals and equalization course as developed and approved by the Commissioner of Revenue. The compliance date is December 1 of the year prior to the current year's meeting. • The valuation notices shall be in writing and be sent by ordinary mail at least ten calendar days before the meeting of the board. The valuation notice will include the dates, places and times set for the meetings of the Local Board of Appeal and Equalization as well as the Hennepin County Board of Appeal and Equalization. • The meetings must be held between April 1 and May 31 each year, including reconvene meetings. The County Assessor shall fix a day and time when the Local Board of Appeal and Equalization shall meet. The board must complete its work and adjourn within 20 days from the time of convening stated in the notice of the clerk, i.e. calendar days — original night is day one. • The clerk shall give published and posted notice of the meeting at least ten days before the date of the meeting. • Local Boards of Appeal and Equalization must see that all taxable property is properly valued and classified for the current assessment year only. The board may consider both real and personal property, and both estimated and taxable value. Personal property is limited to mobile homes and their storage sheds, decks and other improvements located in a manufactured home park, structures on leased public lands and RR operating ROW, and leased buildings located on land owned by the occupant and used as their homestead. • If any property has been omitted, the board must correct the assessment by adding it to the list of assessments along with its market value. • The board may not increase or decrease by percentage all assessments in a district of a given class of property. Changes in the aggregate to assessments are by class and are made by the County Board of Equalization. • The board may not make an individual market value adjustment or classification change that would benefit the property in cases where the owner or other person having control over the property will not permit the assessor to inspect the property and the interior of any buildings or structures. " A l t h o u g h t h e L o c a l B o a r d o f A p p e a l a n d E q u a l i z a t i o n h a s t h e a u t h o r i t y t o i n c r e a s e o r d e c r e a s e i n d i v i d u a l a s s e s s m e n t s , t h e t o t a l o f s u c h a d j u s t m e n t m u s t n o t r e d u c e t h e a g g r e g a t e a s s e s s m e n t b y m o r e t h a n o n e p e r c e n t . I f t h e t o t a l r e d u c t i o n s w o u l d l o w e r t h e a g g r e g a t e a s s e s s m e n t b y m o r e t h a n o n e p e r c e n t , n o n e o f t h e a d j u s t m e n t s m a y b e m a d e . T h e a s s e s s o r s h a l l c o r r e c t a n y c l e r i c a l e r r o r s o r d o u b l e a s s e s s m e n t s d i s c o v e r e d b y t h e b o a r d w i t h o u t r e g a r d t o t h e o n e p e r c e n t l i m i t a t i o n . " T h e l o c a l b o a r d d o e s n o t h a v e t h e a u t h o r i t y t o r e o p e n f o r m e r a s s e s s m e n t s o n w h i c h t a x e s a r e d u e a n d p a y a b l e . " I f a n a s s e s s m e n t w a s m a d e a f t e r t h e l o c a l b o a r d m e e t i n g o r i f a t a x p a y e r c a n e s t a b l i s h n o t h a v i n g r e c e i v e d t h e n o t i c e o f m a r k e t v a l u e a t l e a s t f i v e d a y s b e f o r e t h e m e e t i n g , t h e y c a n a p p e a l t o t h e C o u n t y B o a r d o f A p p e a l a n d E q u a l i z a t i o n . " T h e b o a r d m a y f i n d i n s t a n c e s o f u n d e r v a l u e d p r o p e r t i e s . T h e b o a r d m u s t n o t i f y t h e o w n e r o f t h e p r o p e r t y t h a t t h e v a l u e i s g o i n g t o b e r a i s e d . T h e p r o p e r t y o w n e r m u s t h a v e t h e o p p o r t u n i t y t o a p p e a r b e f o r e t h e b o a r d i f t h e y s o w i s h . " T h e l o c a l b o a r d s d o n o t h a v e t h e a u t h o r i t y t o a d d r e s s e x e m p t i o n i s s u e s . O n l y t h e c o u n t y a s s e s s o r ( a n d t h e t a x c o u r t ) h a s t h e a u t h o r i t y t o e x e m p t p r o p e r t y . T h e y a l s o h a v e n o j u r i s d i c t i o n o v e r s p e c i a l p r o g r a m s f o r w h i c h a n a p p l i c a t i o n p r o c e s s i s r e q u i r e d ( V e t e r a n s M a r k e t V a l u e H o m e s t e a d E x c l u s i o n , G r e e n A c r e s , e t c . ) . " A t a x p a y e r m a y a p p e a r i n p e r s o n , b y c o u n c i l , o r w r i t t e n c o m m u n i c a t i o n t o p r e s e n t h i s o r h e r o b j e c t i o n t o t h e b o a r d . T h e f o c u s o f t h e a p p e a l m u s t c e n t e r o n t h e f a c t o r s i n f l u e n c i n g t h e e s t i m a t e d m a r k e t v a l u e o r c l a s s i f i c a t i o n p l a c e d o n t h e p r o p e r t y . " A l l c h a n g e s w i l l b e e n t e r e d i n t o t h e a s s e s s m e n t r e c o r d b y t h e c o u n t y a s s e s s o r ' s o f f i c e . " B e f o r e a d j o u r n i n g , t h e l o c a l b o a r d s h o u l d p r e p a r e a n o f f i c i a l l i s t o f t h e c h a n g e s . T h e l a w r e q u i r e s t h a t t h e c h a n g e s b e l i s t e d o n a s e p a r a t e f o r m . A l l a s s e s s m e n t s t h a t h a v e b e e n i n c r e a s e d o r d e c r e a s e d s h o u l d b e s h o w n a s p r e s c r i b e d o n t h e f o r m a l o n g w i t h t h e i r m a r k e t v a l u e s . T h e r e c o r d m u s t b e s i g n e d a n d d a t e d b y t h e m e m b e r s o f t h e L o c a l B o a r d o f A p p e a l a n d E q u a l i z a t i o n . " T h e H e n n e p i n C o u n t y B o a r d o f A p p e a l a n d E q u a l i z a t i o n b e g i n s m e e t i n g o n : J u n e 1 5 , 2 0 1 5 " A l l a p p o i n t m e n t s m u s t b e s c h e d u l e d n o l a t e r t h a n W e d n e s d a y , M a y 2 0 , 2 0 1 5 , b y c a l l i n g t h e H e n n e p i n C o u n t y T a x p a y e r S e r v i c e s O f f i c e a t : ( 6 1 2 ) 3 4 8 - 7 0 5 0 CITY OF MEDINA Residential Sales After Oct. 1, 2013 Considered for the January 2, 2015 Assessment TABLE OF CONTENTS Type of House 1 Story (Listed in gross building area order) 1 1/4, 1 Y2 and 1 3/4 Story (Listed in gross building area order) 2 Story (Listed in gross building area order) Split Entry and Split Level (Listed in gross building area order) Town Houses Page 1-11 12-13 14-46 47-54 55-58 ALL INFORMATION CONTAINED WITHIN DEEMED RELIABLE BUT NOT GUARANTEED ADDRESS: 2245 - CHESTNUT RD PID #: (80) 15-118-23-23-0004 Sale Date: 09/2014 Sale Price: $160,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Rambler Age: 1960 Bedrooms: 3 Ground Floor Area: 1,098 Sq.Ft. Above Grade Area: 1,098 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 50% Fireplaces: 1 Central Air Conditioning: No Baths - Deluxe: 0 Full: 1 3/4: 0 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 0 Deck: 288 Garage #1: 410 Type: Attached Garage #2: 336 Type: Tuckunder Lot Size: 26,894 Sq.Ft. 0.62 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 1 ADDRESS: 3412 - ELM CREEK DR PID #: (80) 12-118-23-34-0025 Sale Date: 01/2014 Sale Price: $385,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Rambler Age: 1978 Bedrooms: 4 Ground Floor Area: 1,436 Sq.Ft. Above Grade Area: 1,436 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 70% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 0 Full: 2 3/4: 1 1/2: 0 Porches - Glazed: 240 Screened: 0 Open: 0 Deck: 310 Garage #1: 676 Type: Attached Garage #2: 0 Type: Lot Size: 99,278 Sq.Ft. 2.28 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 428 Comments: 2 ADDRESS: 2998 - LAKESHORE AVE PID #: (80) 18-118-23-22-0142 Sale Date: 06/2014 Sale Price: $381,565 2015 EMV: Sale Date: Sale Price: Style and Story Height: Rambler Age: 1980 Bedrooms: 3 Ground Floor Area: 1,458 Sq.Ft. Above Grade Area: 1,458 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 90% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 0 3/4: 1 1/2: 1 Porches - Glazed: 360 Screened: 0 Open: 108 Deck: 234 Garage #1: 1,056 Type: Attached Garage #2: 0 Type: Lot Size: 24,598 Sq.Ft. 0.56 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: includes 18-118-23-22-0191 3 ADDRESS: 3705 - CO RD NO 19 PID #: (80) 07-118-23-31-0001 Sale Date: 10/2013 Sale Price: $612,500 2015 EMV: Sale Date: Sale Price: Style and Story Height: Rambler Age: 1992 Bedrooms: 2 Ground Floor Area: 1,688 Sq.Ft. Above Grade Area: 1,688 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 60% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 0 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 78 Deck: 307 Garage #1: 814 Type: Attached Garage #2: 0 Type: Lot Size: 999,999 Sq.Ft. 22.96 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 4 ADDRESS: 1475 - HUNTER DR PID #: (80) 25-118-23-21-0002 Sale Date: 07/2014 Sale Price: $522,500 2015 EMV: Sale Date: Sale Price: Style and Story Height: Rambler Age: 1960 Bedrooms: 3 Ground Floor Area: 1,882 Sq.Ft. Above Grade Area: 1,882 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 40% Fireplaces: 3 Central Air Conditioning: Yes Baths - Deluxe: 0 Full: 2 3/4: 1 1/2: 0 Porches - Glazed: 0 Screened: 0 Open: 0 Deck: 0 Garage #1: 480 Type: Attached Garage #2: 0 Type: Lot Size: 207,706 Sq.Ft. 4.77 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 5 ADDRESS: 4640 - BLUEBELL TR N PID #: (80) 02-118-23-22-0011 Sale Date: 08/2014 Sale Price: $774,500 2015 EMV: Sale Date: Sale Price: Style and Story Height: Rambler Age: 2008 Bedrooms: 4 Ground Floor Area: 2,237 Sq.Ft. Above Grade Area: 2,237 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 90% Fireplaces: 3 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 1 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 211 Deck: 248 Garage #1: 744 Type: Attached Garage #2: 0 Type: Lot Size: 18,869 Sq.Ft. 0.43 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: ADDRESS: 1722 - TAMARACK DR PID #: (80) 23-118-23-43-0014 Sale Date: 06/2014 Sale Price: $982,250 2015 EMV: Sale Date: Sale Price: Style and Story Height: Rambler Age: 1971 Bedrooms: 4 Ground Floor Area: 2,620 Sq.Ft. Above Grade Area: 2,620 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 90% Fireplaces: 3 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 1 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 224 Deck: 1498 Garage #1: 572 Type: Attached Garage #2: 0 Type: Lot Size: 356,298 Sq.Ft. 8.18 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: includes 23-118-23-43-0012 7 ADDRESS: 532 - MEDINA RD PID #: (80) 13-118-23-31-0015 Sale Date: 04/2014 Sale Price: $862,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Rambler Age: 1995 Bedrooms: 4 Ground Floor Area: 2,826 Sq.Ft. Above Grade Area: 2,826 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 90% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 1 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 159 Deck: 288 Garage #1: 966 Type: Attached Garage #2: 1,008 Type: Detached Lot Size: 91,475 Sq.Ft. 2.10 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 8 ADDRESS: 1910 - KATRINKA RD PID #: (80) 03-118-23-12-0005 Sale Date: 06/2014 Sale Price: $750,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Rambler Age: 1995 Bedrooms: 4 Ground Floor Area: 3,156 Sq.Ft. Above Grade Area: 3,156 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 70% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 1 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 63 Deck: 244 Garage #1: 1,200 Type: Attached Garage #2: 936 Type: Detached Lot Size: 371,345 Sq.Ft. 8.52 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 9 ADDRESS: 2950 - PARKVIEW DR PID #: (80) 16-118-23-22-0003 Sale Date: 08/2014 Sale Price: $1,315,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Rambler Age: 1997 Bedrooms: 4 Ground Floor Area: 3,857 Sq.Ft. Above Grade Area: 3,857 Sq.Ft. Bsmt. Area: 60% Finished Bsmt. Area: 70% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 1 1/2: 0 Porches - Glazed: 0 Screened: 0 Open: 188 Deck: 204 Garage #1: 628 Type: Attached Garage #2: 510 Type: Tuckunder Lot Size: 519,706 Sq.Ft. 11.93 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 10 ADDRESS: 375 - EAST PADDOCK CIR PID #: (80) 24-118-23-42-0009 Sale Date: 08/2014 Sale Price: $1,297,500 2015 EMV: Sale Date: Sale Price: Style and Story Height: Rambler Age: 1988 Bedrooms: 5 Ground Floor Area: 4,124 Sq.Ft. Above Grade Area: 4,124 Sq.Ft. Bsmt. Area: 70% Finished Bsmt. Area: 80% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 2 3/4: 1 1/2: 2 Porches - Glazed: 0 Screened: 0 Open: 190 Deck: 0 Garage #1: 552 Type: Attached Garage #2: 575 Type: Attached Lot Size: 144,239 Sq.Ft. 3.31 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 11 ADDRESS: 2642 - BOBOLINK RD PID #: (80) 28-118-23-13-0005 Sale Date: 08/2014 Sale Price: $266,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: 1.25 Story Age: 1961 Bedrooms: 4 Ground Floor Area: 1,084 Sq.Ft. Above Grade Area: 1,355 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 10% Fireplaces: 1 Central Air Conditioning: Yes Baths - Deluxe: 0 Full: 1 3/4: 1 1/2: 0 Porches - Glazed: 0 Screened: 196 Open: 0 Deck: 160 Garage #1: 308 Type: Attached Garage #2: 0 Type: Lot Size: 16,486 Sq.Ft. 0.38 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 100 Comments: 12 ADDRESS: 195 - HAMEL RD PID #: (80) 12-118-23-41-0038 Sale Date: 08/2014 Sale Price: $400,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: 1.75 Story Age: 1914 Bedrooms: 7 Ground Floor Area: 1,048 Sq.Ft. Above Grade Area: 1,834 Sq.Ft. Bsmt. Area: 90% Finished Bsmt. Area: 00% Fireplaces: 0 Central Air Conditioning: No Baths - Deluxe: 0 Full: 1 3/4: 0 1/2: 0 Porches - Glazed: 280 Screened: 0 Open: 0 Deck: 0 Garage #1: 648 Type: Detached Garage #2: 0 Type: Lot Size: 22,756 Sq.Ft. 0.52 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 13 ADDRESS: 213 - CHERRY HILL TR PID #: (80) 12-118-23-11-0009 Sale Date: 09/2014 Sale Price: $343,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 1993 Bedrooms: 3 Ground Floor Area: 780 Sq.Ft. Above Grade Area: 1,542 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 80% Fireplaces: 1 Central Air Conditioning: Yes Baths - Deluxe: 0 Full: 2 3/4: 0 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 24 Deck: 0 Garage #1: 484 Type: Attached Garage #2: 0 Type: Lot Size: 17,316 Sq.Ft. 0.40 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 14 ADDRESS: 3309 - RED FOX DR PID #: (80) 13-118-23-21-0009 Sale Date: 06/2014 Sale Price: $442,349 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 1979 Bedrooms: 3 Ground Floor Area: 1,258 Sq.Ft. Above Grade Area: 1,994 Sq.Ft. Bsmt. Area: 70% Finished Bsmt. Area: 00% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 0 Full: 2 3/4: 0 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 8 Deck: 448 Garage #1: 543 Type: Attached Garage #2: 0 Type: Lot Size: 83,910 Sq.Ft. 1.93 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 15 ADDRESS: 4692 - SYCAMORE TR PID #: (80) 19-118-23-32-0027 Sale Date: 12/2013 Sale Price: $500,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 1995 Bedrooms: 4 Ground Floor Area: 1,422 Sq.Ft. Above Grade Area: 2,190 Sq.Ft. Bsmt. Area: 0% Finished Bsmt. Area: 00% Fireplaces: 1 Central Air Conditioning: Yes Baths - Deluxe: 0 Full: 1 3/4: 1 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 372 Deck: 0 Garage #1: 936 Type: Attached Garage #2: 884 Type: Detached Lot Size: 14,966 Sq.Ft. 0.34 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 16 ADDRESS: 425 - RIDGE VIEW CIR PID #: (80) 12-118-23-31-0040 Sale Date: 03/2014 Sale Price: $370,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 1993 Bedrooms: 4 Ground Floor Area: 1,132 Sq.Ft. Above Grade Area: 2,264 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 70% Fireplaces: 0 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 0 1 /2: 1 Porches - Glazed: 0 Screened: 168 Open: 216 Deck: 216 Garage #1: 576 Type: Attached Garage #2: 0 Type: Lot Size: 15,545 Sq.Ft. 0.36 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 17 ADDRESS: 4475 - MAPLE LEAF CT PID #: (80) 02-118-23-14-0010 Sale Date: 03/2014 Sale Price: $510,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 1996 Bedrooms: 3 Ground Floor Area: 1,689 Sq.Ft. Above Grade Area: 2,566 Sq.Ft. Bsmt. Area: 90% Finished Bsmt. Area: 10% Fireplaces: 1 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 0 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 32 Deck: 168 Garage #1: 680 Type: Attached Garage #2: 0 Type: Lot Size: 34,521 Sq.Ft. 0.79 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 18 ADDRESS: 2425 - TAMARACK DR PID #: (80) 14-118-23-34-0008 Sale Date: 07/2014 Sale Price: $900,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 1975 Bedrooms: 3 Ground Floor Area: 1,514 Sq.Ft. Above Grade Area: 2,900 Sq.Ft. Bsmt. Area: 90% Finished Bsmt. Area: 80% Fireplaces: 3 Central Air Conditioning: No Baths - Deluxe: 1 Full: 1 3/4: 1 1/2: 1 Porches - Glazed: 221 Screened: 0 Open: 144 Deck: 468 Garage #1: 664 Type: Attached Garage #2: 1,980 Type: Detached Lot Size: 401,084 Sq.Ft. 9.21 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 19 ADDRESS: 900 - FOX PATH CT PID #: (80) 02-118-23-14-0027 Sale Date: 04/2014 Sale Price: $570,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 1996 Bedrooms: 5 Ground Floor Area: 1,544 Sq.Ft. Above Grade Area: 2,972 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 60% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 1 1/2: 1 Porches - Glazed: 180 Screened: 0 Open: 96 Deck: 0 Garage #1: 724 Type: Attached Garage #2: 0 Type: Lot Size: 34,674 Sq.Ft. 0.80 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 20 ADDRESS: 4543 - BLUEBELL TR N PID #: (80) 02-118-23-23-0017 Sale Date: 07/2014 Sale Price: $755,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 2006 Bedrooms: 5 Ground Floor Area: 1,726 Sq.Ft. Above Grade Area: 2,975 Sq.Ft. Bsmt. Area: 80% Finished Bsmt. Area: 90% Fireplaces: 1 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 2 3/4: 0 1/2: 1 Porches - Glazed: 0 Screened: 182 Open: 139 Deck: 208 Garage #1: 787 Type: Attached Garage #2: 0 Type: Lot Size: 17,853 Sq.Ft. 0.41 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 21 ADDRESS: 4435 - SHOREWOOD TR PID #: (80) 02-118-23-14-0005 Sale Date: 05/2014 Sale Price: $616,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 1996 Bedrooms: 5 Ground Floor Area: 2,161 Sq.Ft. Above Grade Area: 3,225 Sq.Ft. Bsmt. Area: 80% Finished Bsmt. Area: 60% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 1 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 50 Deck: 407 Garage #1: 748 Type: Attached Garage #2: 0 Type: Lot Size: 37,571 Sq.Ft. 0.86 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 22 ADDRESS: 3022 - CO RD NO 24 PID #: (80) 21-118-23-22-0001 Sale Date: 06/2014 Sale Price: $670,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 2008 Bedrooms: 5 Ground Floor Area: 2,817 Sq.Ft. Above Grade Area: 3,271 Sq.Ft. Bsmt. Area: 60% Finished Bsmt. Area: 80% Fireplaces: 1 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 2 3/4: 0 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 120 Deck: 560 Garage #1: 1,392 Type: Attached Garage #2: 672 Type: Detached Lot Size: 97,359 Sq.Ft. 2.24 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 23 ADDRESS: 2530 - KELLER RD PID #: (80) 28-118-23-14-0058 Sale Date: 08/2014 Sale Price: $940,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 2006 Bedrooms: 5 Ground Floor Area: 2,128 Sq.Ft. Above Grade Area: 3,312 Sq.Ft. Bsmt. Area: 60% Finished Bsmt. Area: 80% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 2 3/4: 1 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 242 Deck: 220 Garage #1: 1,178 Type: Attached Garage #2: 0 Type: Lot Size: 42,918 Sq.Ft. 0.99 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 74 ADDRESS: 4605 - MEDINA LAKE DR PID #: (80) 02-118-23-13-0001 Sale Date: 11/2013 Sale Price: $658,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 1999 Bedrooms: 5 Ground Floor Area: 2,290 Sq.Ft. Above Grade Area: 3,450 Sq.Ft. Bsmt. Area: 80% Finished Bsmt. Area: 8 01)/0 Fireplaces: 3 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 2 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 101 Deck: 325 Garage #1: 840 Type: Attached Garage #2: 0 Type: Lot Size: 40,176 Sq.Ft. 0.92 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 25 ADDRESS: 375 - LYTHRUM LA PID #: (80) 12-118-23-12-0056 Sale Date: 10/2013 Sale Price: $850,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 2002 Bedrooms: 5 Ground Floor Area: 2,094 Sq.Ft. Above Grade Area: 3,457 Sq.Ft. Bsmt. Area: 90% Finished Bsmt. Area: 70% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 2 3/4: 1 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 140 Deck: 222 Garage #1: 867 Type: Attached Garage #2: 0 Type: Lot Size: 34,063 Sq.Ft. 0.78 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 26 ADDRESS: 4550 - TRILLIUM DR N PID #: (80) 02-118-23-22-0042 Sale Date: 08/2014 Sale Price: $757,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 2012 Bedrooms: 5 Ground Floor Area: 1,957 Sq.Ft. Above Grade Area: 3,487 Sq.Ft. Bsmt. Area: 80% Finished Bsmt. Area: 90% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 1 1/2: 2 Porches - Glazed: 192 Screened: 0 Open: 268 Deck: 264 Garage #1: 808 Type: Attached Garage #2: 0 Type: Lot Size: 15,859 Sq.Ft. 0.36 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 27 iti111t1!11G ADDRESS: 4175 - BROCKTON LA PID #: (80) 13-118-23-14-0001 Sale Date: 06/2014 Sale Price: $850,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 1920 Bedrooms: 5 Ground Floor Area: 2,360 Sq.Ft. Above Grade Area: 3,514 Sq.Ft. Bsmt. Area: 70% Finished Bsmt. Area: 00% Fireplaces: 1 Central Air Conditioning: No Baths - Deluxe: 1 Full: 1 3/4: 0 1/2: 1 Porches - Glazed: 0 Screened: 144 Open: 287 Deck: 0 Garage #1: 672 Type: Attached Garage #2: 0 Type: Lot Size: 368,698 Sq.Ft. 8.46 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 28 ADDRESS: 4165 - SHOREWOOD TR PID #: (80) 02-118-23-42-0004 Sale Date: 04/2014 Sale Price: $617,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 2000 Bedrooms: 5 Ground Floor Area: 2,213 Sq.Ft. Above Grade Area: 3,575 Sq.Ft. Bsmt. Area: 90% Finished Bsmt. Area: 50% Fireplaces: 1 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 2 1/2: 1 Porches - Glazed: 168 Screened: 0 Open: 21 Deck: 156 Garage #1: 680 Type: Attached Garage #2: 0 Type: Lot Size: 37,710 Sq.Ft. 0.87 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 29 ADDRESS: 2165 - COTTONWOOD TR PID #: (80) 22-118-23-32-0007 Sale Date: 06/2014 Sale Price: $515,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 1966 Bedrooms: 5 Ground Floor Area: 1,775 Sq.Ft. Above Grade Area: 2,687 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 30% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 0 Full: 1 3/4: 2 1/2: 1 Porches - Glazed: 572 Screened: 0 Open: 372 Deck: 391 Garage #1: 720 Type: Attached Garage #2: 0 Type: Lot Size: 539,183 Sq.Ft. 12.38 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: �n ADDRESS: 195 - PRAIRIE CREEK RD PID #: (80) 01-118-23-44-0008 Sale Date: 09/2014 Sale Price: $900,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 2004 Bedrooms: 4 Ground Floor Area: 1,917 Sq.Ft. Above Grade Area: 3,601 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 80% Fireplaces: 3 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 2 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 58 Deck: 860 Garage #1: 704 Type: Attached Garage #2: 0 Type: Lot Size: 21,664 Sq.Ft. 0.50 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 31 ADDRESS: 870 - FOX PATH CT PID #: (80) 02-118-23-14-0028 Sale Date: 09/2014 Sale Price: $560,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 1996 Bedrooms: 4 Ground Floor Area: 2,198 Sq.Ft. Above Grade Area: 3,607 Sq.Ft. Bsmt. Area: 90% Finished Bsmt. Area: 70% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 1 1/2: 1 Porches - Glazed: 240 Screened: 0 Open: 116 Deck: 525 Garage #1: 859 Type: Attached Garage #2: 0 Type: Lot Size: 35,395 Sq.Ft. 0.81 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 32 ADDRESS: 295 - CALAMUS CIR PID #: (80) 01-118-23-13-0012 Sale Date: 06/2014 Sale Price: $1,100,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 2003 Bedrooms: 5 Ground Floor Area: 2,140 Sq.Ft. Above Grade Area: 3,645 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 80% Fireplaces: 3 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 2 1/2: 1 Porches - Glazed: 0 Screened: 169 Open: 78 Deck: 288 Garage #1: 816 Type: Attached Garage #2: 0 Type: Lot Size: 57,099 Sq.Ft. 1.31 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: ADDRESS: 4105 - WILD MEADOWS DR PID #: (80) 01-118-23-43-0037 Sale Date: 08/2014 Sale Price: $1,000,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 2003 Bedrooms: 5 Ground Floor Area: 2,181 Sq.Ft. Above Grade Area: 3,657 Sq.Ft. Bsmt. Area: 90% Finished Bsmt. Area: 80% Fireplaces: 3 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 2 1/2: 1 Porches - Glazed: 0 Screened: 144 Open: 57 Deck: 112 Garage #1: 680 Type: Attached Garage #2: 0 Type: Lot Size: 25,422 Sq.Ft. 0.58 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: '")A ADDRESS: 313 - LYTHRUM LA PID #: (80) 01-118-23-43-0014 Sale Date: 09/2014 Sale Price: $820,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 2002 Bedrooms: 5 Ground Floor Area: 2,238 Sq.Ft. Above Grade Area: 3,853 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 50°/a Fireplaces: 3 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 2 1/2: 2 Porches - Glazed: 0 Screened: 189 Open: 84 Deck: 150 Garage #1: 1,121 Type: Attached Garage #2: 0 Type: Lot Size: 24,764 Sq.Ft. 0.57 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: �S ADDRESS: 1035 - SETTLERS RD PID #: (80) 02-118-23-12-0018 Sale Date: 08/2014 Sale Price: $690,830 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 1999 Bedrooms: 6 Ground Floor Area: 2,168 Sq.Ft. Above Grade Area: 3,903 Sq.Ft. Bsmt. Area: 90% Finished Bsmt. Area: 80% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 2 1/2: 0 Porches - Glazed: 160 Screened: 0 Open: 0 Deck: 464 Garage #1: 680 Type: Attached Garage #2: 0 Type: Lot Size: 42,979 Sq.Ft. 0.99 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: QC ADDRESS: 4265 - WILD MEADOWS DR PI D #: (80) 01-118-23-42-0011 Sale Date: 02/2014 Sale Price: $1,090,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 2006 Bedrooms: 5 Ground Floor Area: 2,140 Sq.Ft. Above Grade Area: 3,936 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 80% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 2 1/2: 3 Porches - Glazed: 0 Screened: 0 Open: 581 Deck: 548 Garage #1: 924 Type: Attached Garage #2: 0 Type: Lot Size: 30,556 Sq.Ft. 0.70 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 37 ADDRESS: 4657 - MEDINA LAKE DR PID #: (80) 02-118-23-12-0003 Sale Date: 11/2013 Sale Price: $740,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 1999 Bedrooms: 5 Ground Floor Area: 2,523 Sq.Ft. Above Grade Area: 3,939 Sq.Ft. Bsmt. Area: 80% Finished Bsmt. Area: 9 0% Fireplaces: 1 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 2 1/2: 1 Porches - Glazed: 224 Screened: 0 Open: 77 Deck: 504 Garage #1: 720 Type: Attached Garage #2: 0 Type: Lot Size: 37,827 Sq.Ft. 0.87 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 38 ADDRESS: 370 - BERGAMOT DR PI D #: (80) 01-118-23-12-0020 Sale Date: 02/2014 Sale Price: $1,450,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 2004 Bedrooms: 6 Ground Floor Area: 2,346 Sq.Ft. Above Grade Area: 3,948 Sq.Ft. Bsmt. Area: 90% Finished Bsmt. Area: 90% Fireplaces: 4 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 2 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 232 Deck: 340 Garage #1: 1,010 Type: Attached Garage #2: 324 Type: Detached Lot Size: 51,572 Sq.Ft. 1.18 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: "19 ADDRESS: 4245 - WILD MEADOWS DR PID #: (80) 01-118-23-42-0018 Sale Date: 03/2014 Sale Price: $1,075,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 2006 Bedrooms: 5 Ground Floor Area: 2,825 Sq.Ft. Above Grade Area: 4,176 Sq.Ft. Bsmt. Area: 80% Finished Bsmt. Area: 70% Fireplaces: 3 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 2 1/2: 2 Porches - Glazed: 0 Screened: 0 Open: 84 Deck: 402 Garage #1: 1,024 Type: Attached Garage #2: 0 Type: Lot Size: 25,262 Sq.Ft. 0.58 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 40 ADDRESS: 755 - MEDINA RD PID #: (80) 13-118-23-32-0012 Sale Date: 05/2014 Sale Price: $847,500 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 1993 Bedrooms: 5 Ground Floor Area: 2,656 Sq.Ft. Above Grade Area: 4,428 Sq.Ft. Bsmt. Area: 110% Finished Bsmt. Area: 60% Fireplaces: 4 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 3 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 80 Deck: 516 Garage #1: 756 Type: Attached Garage #2: 768 Type: Tuckunder Lot Size: 187,095 Sq.Ft. 4.30 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 41 ADDRESS: 4215 - WILD MEADOWS DR PID #: (80) 01-118-23-42-0015 Sale Date: 12/2013 Sale Price: $985,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 2006 Bedrooms: 6 Ground Floor Area: 2,805 Sq.Ft. Above Grade Area: 4,589 Sq.Ft. Bsmt. Area: 90% Finished Bsmt. Area: 80% Fireplaces: 3 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 2 3/4: 3 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 144 Deck: 0 Garage #1: 871 Type: Attached Garage #2: 0 Type: Lot Size: 31,841 Sq.Ft. 0.73 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 42 ADDRESS: 1592 - HOMESTEAD TR PID #: (80) 20-118-23-44-0011 Sale Date: 07/2014 Sale Price: $1,250,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 2006 Bedrooms: 4 Ground Floor Area: 3,057 Sq.Ft. Above Grade Area: 4,668 Sq.Ft. Bsmt. Area: 50% Finished Bsmt. Area: 90% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 2 1/2: 1 Porches - Glazed: 0 Screened: 224 Open: 82 Deck: 745 Garage #1: 771 Type: Attached Garage #2: 0 Type: Lot Size: 264,593 Sq.Ft. 6.07 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: ADDRESS: 790 - NAVAJO RD PID #: (80) 13-118-23-23-0008 Sale Date: 04/2014 Sale Price: $1,765,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 2011 Bedrooms: 4 Ground Floor Area: 2,479 Sq.Ft. Above Grade Area: 4,709 Sq.Ft. Bsmt. Area: 901)/0 Finished Bsmt. Area: 00% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 2 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 386 Deck: 0 Garage #1: 1,498 Type: Attached Garage #2: 0 Type: Lot Size: 156,520 Sq.Ft. 3.59 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 44 ADDRESS: 101 - PRIMROSE LA PID #: (80) 01-118-23-11-0006 Sale Date: 03/2014 Sale Price: $1,460,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 2004 Bedrooms: 5 Ground Floor Area: 3,223 Sq.Ft. Above Grade Area: 5,237 Sq.Ft. Bsmt. Area: 70% Finished Bsmt. Area: 50% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 3 1/2: 1 Porches - Glazed: 0 Screened: 208 Open: 928 Deck: 206 Garage #1: 1,120 Type: Attached Garage #2: 0 Type: Lot Size: 59,178 Sq.Ft. 1.36 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 45 ADDRESS: 1525 - HUNTER DR PID #: (80) 25-118-23-22-0005 Sale Date: 09/2014 Sale Price: $4,635,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 2000 Bedrooms: 4 Ground Floor Area: 7,453 Sq.Ft. Above Grade Area: 11,381 Sq.Ft. Bsmt. Area: 90% Finished Bsmt. Area: 30% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 2 Full: 1 3/4: 1 1/2: 3 Porches - Glazed: 0 Screened: 0 Open: 472 Deck: 472 Garage #1: 1,076 Type: Attached Garage #2: 0 Type: Lot Size: 786,951 Sq.Ft. 18.07 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 46 ADDRESS: 4792 - SYCAMORE TR PID #: (80) 19-118-23-32-0015 Sale Date: 02/2014 Sale Price: $224,900 2015 EMV: Sale Date: Sale Price: Style and Story Height: Split Entry Age: 1978 Bedrooms: 4 Ground Floor Area: 1,008 Sq.Ft. Above Grade Area: 1,008 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 80% Fireplaces: 0 Central Air Conditioning: Yes Baths - Deluxe: 0 Full: 1 3/4: 1 1/2: 0 Porches - Glazed: 0 Screened: 0 Open: 0 Deck: 168 Garage #1: 864 Type: Attached Garage #2: 0 Type: Lot Size: 15,908 Sq.Ft. 0.37 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 119 Comments: 47 ADDRESS: 445 - RIDGE VIEW CIR PID #: (80) 12-118-23-31-0042 Sale Date: 03/2014 Sale Price: $286,300 2015 EMV: Sale Date: Sale Price: Style and Story Height: Split Entry Age: 1988 Bedrooms: 4 Ground Floor Area: 1,084 Sq.Ft. Above Grade Area: 1,084 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 70% Fireplaces: 0 Central Air Conditioning: Yes Baths - Deluxe: 0 Full: 1 3/4: 1 1/2: 0 Porches - Glazed: 0 Screened: 0 Open: 50 Deck: 196 Garage #1: 484 Type: Attached Garage #2: 0 Type: Lot Size: 9,882 Sq.Ft. 0.23 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 42 ADDRESS: 3431 - ELM CREEK DR PID #: (80) 12-118-23-34-0015 Sale Date: 05/2014 Sale Price: $325,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Split Entry Age: 1987 Bedrooms: 4 Ground Floor Area: 1,329 Sq.Ft. Above Grade Area: 1,329 Sq.Ft. Bsmt. Area: 90% Finished Bsmt. Area: 90% Fireplaces: 0 Central Air Conditioning: Yes Baths - Deluxe: 0 Full: 1 3/4: 2 1/2: 0 Porches - Glazed: 0 Screened: 0 Open: 98 Deck: 229 Garage #1: 528 Type: Attached Garage #2: 0 Type: Lot Size: 22,388 Sq.Ft. 0.51 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 49 ADDRESS: 565 - HACKAMORE RD PID #: (80) 01-118-23-21-0002 Sale Date: 01/2014 Sale Price: $342,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Split Entry Age: 1978 Bedrooms: 3 Ground Floor Area: 1,333 Sq.Ft. Above Grade Area: 1,333 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 70% Fireplaces: 1 Central Air Conditioning: Yes Baths - Deluxe: 0 Full: 1 3/4: 1 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 0 Deck: 192 Garage #1: 624 Type: Attached Garage #2: 1,500 Type: Detached Lot Size: 103,263 Sq.Ft. 2.37 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: �n ADDRESS: 3175 - ASPEN AVE PID #: (80) 18-118-23-21-0124 Sale Date: 08/2014 Sale Price: $247,350 2015 EMV: Sale Date: Sale Price: Style and Story Height: Split Level Age: 1992 Bedrooms: 4 Ground Floor Area: 1,349 Sq.Ft. Above Grade Area: 1,349 Sq.Ft. Bsmt. Area: 90% Finished Bsmt. Area: 50% Fireplaces: 1 Central Air Conditioning: Yes Baths - Deluxe: 0 Full: 1 3/4: 2 1/2: 0 Porches - Glazed: 0 Screened: 0 Open: 110 Deck: 169 Garage #1: 1,053 Type: Attached Garage #2: 0 Type: Lot Size: 14,068 Sq.Ft. 0.32 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 100 Comments: 51 ADDRESS: 4742 - SYCAMORE TR PID #: (80) 19-118-23-32-0021 Sale Date: 10/2013 Sale Price: $206,513 2015 EMV: Sale Date: Sale Price: Style and Story Height: Split Entry Age: 1976 Bedrooms: 3 Ground Floor Area: 1,350 Sq.Ft. Above Grade Area: 1,350 Sq.Ft. Bsmt. Area: 90% Finished Bsmt. Area: 50% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 0 Full: 1 3/4: 0 1/2: 0 Porches - Glazed: 0 Screened: 0 Open: 0 Deck: 252 Garage #1: 600 Type: Attached Garage #2: 0 Type: Lot Size: 13,616 Sq.Ft. 0.31 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 52 ADDRESS: 267 - CHERRY HILL TR PID #: (80) 12-118-23-13-0025 Sale Date: 05/2014 Sale Price: $332,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Split Level Age: 1991 Bedrooms: 4 Ground Floor Area: 1,370 Sq.Ft. Above Grade Area: 1,370 Sq.Ft. Bsmt. Area: 50% Finished Bsmt. Area: 90% Fireplaces: 1 Central Air Conditioning: Yes Baths - Deluxe: 0 Full: 1 3/4: 1 1/2: 0 Porches - Glazed: 0 Screened: 0 Open: 81 Deck: 500 Garage #1: 440 Type: Attached Garage #2: 0 Type: Lot Size: 14,221 Sq.Ft. 0.33 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 53 ADDRESS: 294 - CHERRY HILL TR PID #: (80) 12-118-23-12-0031 Sale Date: 06/2014 Sale Price: $350,900 2015 EMV: Sale Date: Sale Price: Style and Story Height: Split Level Age: 1991 Bedrooms: 5 Ground Floor Area: 1,498 Sq.Ft. Above Grade Area: 1,498 Sq.Ft. Bsmt. Area: 90% Finished Bsmt. Area: 50% Fireplaces: 1 Central Air Conditioning: Yes Baths - Deluxe: 0 Full: 1 3/4: 2 1/2: 0 Porches - Glazed: 0 Screened: 0 Open: 60 Deck: 473 Garage #1: 576 Type: Tuckunder Garage #2: 0 Type: Lot Size: 13,429 Sq.Ft. 0.31 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 54 ADDRESS: 3715 - LILAC DR PID #: (80) 12-118-23-14-0046 Sale Date: 10/2013 Sale Price: $515,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Rambler Age: 2003 Bedrooms: 3 Ground Floor Area: 1,920 Sq.Ft. Above Grade Area: 1,920 Sq.Ft. Bsmt. Area: 90% Finished Bsmt. Area: 80% Fireplaces: 1 Central Air Conditioning: Yes Baths - Deluxe: 2 Full: 0 3/4: 0 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 60 Deck: 190 Garage #1: 728 Type: Attached Garage #2: 0 Type: Lot Size: 9,359 Sq.Ft. 0.21 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 55 ADDRESS: 3716 - LILAC DR PID #: (80) 12-118-23-14-0061 Sale Date: 05/2014 Sale Price: $525,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Rambler Age: 2002 Bedrooms: 2 Ground Floor Area: 1,925 Sq.Ft. Above Grade Area: 1,925 Sq.Ft. Bsmt. Area: 90% Finished Bsmt. Area: 60% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 0 3/4: 1 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 60 Deck: 96 Garage #1: 715 Type: Attached Garage #2: 0 Type: Lot Size: 12,328 Sq.Ft. 0.28 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 56 ADDRESS: 3712 - LILAC DR PID #: (80) 12-118-23-14-0033 Sale Date: 12/2013 Sale Price: $425,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Rambler Age: 2003 Bedrooms: 3 Ground Floor Area: 1,925 Sq.Ft. Above Grade Area: 1,925 Sq.Ft. Bsmt. Area: 90% Finished Bsmt. Area: 60% Fireplaces: 1 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 0 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 60 Deck: 232 Garage #1: 726 Type: Attached Garage #2: 0 Type: Lot Size: 12,399 Sq.Ft. 0.28 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 57 ADDRESS: 3857 - LINDEN DR W PID #: (80) 12-118-23-11-0066 Sale Date: 05/2014 Sale Price: $510,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Rambler Age: 2003 Bedrooms: 3 Ground Floor Area: 1,925 Sq.Ft. Above Grade Area: 1,925 Sq.Ft. Bsmt. Area: 901Y0 Finished Bsmt. Area: 80% Fireplaces: 2 Central Air Conditioning: No Baths - Deluxe: 1 Full: 1 3/4: 0 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 60 Deck: 96 Garage #1: 715 Type: Attached Garage #2: 0 Type: Lot Size: 8,578 Sq.Ft. 0.20 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 58 Application To appear before complete the information Equalization Meeting MN 55340. You accept e-mail applications on April 8, 2015. Hennepin to avoid Property Owner Name of Authorized Property Location Property Identification 1. Please mark Yes X to Appeal 2015 Valuation the Medina Local Board below and return on April 8, 2015 may appear in person, at scott.johnson@ci.medina.mn.us C.,` T o k the start City by or via Valuation noted (for Taxes Payable in 2016) an application is preferable. Please of the Board of Appeal and Hall, 2052 County Road 24, Medina, an authorized agent. The City will fax at (763) 473-9359 until 4:30 p.m. and Classification — County of below. 1:130,5 or Classification of Appeal and Equalization, to the City prior to at 6:30 p.m. at Medina by letter, or be represented *You may also attach completing the information Name(s)*: keei your 2015 Notice of with an * (asterisk) —&-pi Gt,k7� S i,n� Agent (if applicable): (address)*: 00/2.... ►.7 % A u3A-te�T/�-i PAN) J 73c1 I th7yr�� 41� Numbers)*: an "X" below if you have No j 2,5-- j if•-1,--2.3 J ;7j c'r OP contacted the City Assessor your Notice of Valuation)*: your Notice of Valuation)*: for 2015: 4 I j 3 i at (763) 473-3978 as requested. +11351 , •--" 2. Assessment 3. Assessment 4. Your proposed Please provide classification is supporting evidence. S� Year 2014 (as stated on Year 2015 (as stated on valuation and/or classification below or attach supporting incorrect. See additional IOrr) 'Si 50 A.CYZ'; -- ll g5-0 -- 4 I, 3E35; oc)p evidence to convince the board that the current year valuation or information on the backside of this page on how to provide /'r—rTAG.-1=t� 17 .., �,�.t� y g - z_ 5 ‘/.2 2 5 L, �z l Sign ture of 0 ner Date Phone # (Daytime) Application to Appeal 2015 Valuation or Classification (for Taxes Payable in 2016) Property ID#: 25-118-23 13 0008 Property Address: 1392 Hunter Drive, Wayzata, MN 55391 Supporting evidence for proposed valuation: The following work was done to assist in the determination of the above property valuation and is intended to be respectful towards the work completed by the Assessor's Office. Based on my initial conversation with the Assessor's Office, I worked through the following methodology to derive the proposed valuation range of $1,311,950 - $1,385,000. To this end, the following four steps were completed to reach this determination: • 2014 Medina, MN median sales price data o Data provided by: The Minneapolis Area Association of Realtors (http://www.mplsrealtor.com) o Given a large enough sample size, median is preferred versus average as a better determinant of midpoint value o Conclusions: ■ 120 and 134 closed sales in 2013 and 2014 respectively ■ $527,500 and $525,000 median sales price in 2013 and 2014 respectively, which represents a -0.5% decrease ■ At a macro level, this would directionally hold properties values flat for the 2015 assessment • Estimated Market Value (EMV) vs. Sold Property Pricing Analysis (Table 1A & 1B) o The intent of this analysis was to determine the relationship between EMV versus home sale price for homes sold in 2013/2014 and assessed in 2014/2015 o This was completed for both home sales in the Hunter Drive area as well as a secondary broader area as described in Table 1A o Conclusions: ■ Hunter Drive area: 2.5% and -7.1% variance for 2014 and 2015 respectively, for EMV versus actual home sale price ■ Secondary area: -4.5% and -4.7% average variance for 2014 and 2015 respectively, for EMV versus actual home sale price ■ The data in addition to The Minneapolis Area Association of Realtors support a valuation of approximately $1,311,950 • 2013-2015 Assessment Analysis (Table 2) o The intent of this analysis was to assess changes in EMV for the properties surrounding 1392 Hunter Drive for both 1-year and 2-year periods o The assumption, unless there are outstanding circumstances, is that the EMVs should move in somewhat a similar fashion since they are impacted by the same market dynamics o Conclusions: ■ 1.3%, 3.2% and 4.5% average change in EMV for 2015, 2016 and 2014-2016 respectively ■ In isolation, the data would support a valuation of $1,384,625 " A s s e s s m e n t ( E M V ) b a c k g r o u n d f o r 1 3 9 2 H u n t e r D r i v e , W a y z a t a , M N ( T a b l e 3 ) o T h e a b o v e p r o p e r t y c l o s e d i n D e c e m b e r 2 0 1 2 a n d m y n e i g h b o r s p r o p e r t y ( 1 3 8 2 H u n t e r D r i v e , i n w h i c h m y p r o p e r t y w a s s u b d i v i d e d ) c l o s e d i n O c t o b e r 2 0 1 2 b o t h p r o p e r t i e s a s s e s s e d a t t h e s a m e t i m e o T h e a s s u m p t i o n , u n l e s s t h e r e a r e o u t s t a n d i n g c i r c u m s t a n c e s , s i n c e m a r k e t v a l u e w a s e s t a b l i s h e d a t t h e s a m e t i m e d u e t o t r a n s a c t i o n d a t e s , t h e E M V s s h o u l d m o v e i n s o m e w h a t a s i m i l a r f a s h i o n s i n c e t h e y a r e i m p a c t e d b y t h e s a m e m a r k e t d y n a m i c s o C o n c l u s i o n s : �% 1 3 9 2 H u n t e r D r i v e a s s e s s m e n t i n c r e a s e d 1 3 . 4 % f r o m 2 0 1 3 t o 2 0 1 5 �% 1 3 8 2 H u n t e r D r i v e a s s e s s m e n t i n c r e a s e d 1 % f r o m 2 0 1 3 t o 2 0 1 5 �% I n i s o l a t i o n , t h e d a t a w o u l d s u p p o r t a v a l u a t i o n o f $ 1 , 3 3 8 , 7 0 7 t o $ 1 , 3 8 1 , 0 0 0 0 %8"9Z- %E'LZ- (000117Z1 $ (000'6SE) $ I000'46E% $ 00019Z'E $ 000.08n $ 1000'5E9'4 $ 4T/£Z/60 000'956 $ 000178L $ 000'L9L $ 000'ST£'T $ 41/81/80 T6ESS NW 'wezAe/yk'anu0 JawnH SZST 04ESS N W 'IaweH 'anu0 main/Jed 0S6Z slunowe passasse/plos ayl aulnup slope; wino ale amyl Imp apnpuoa of auo peal pp m awuepen luaaiao aeiel ayl se lno uanel aJam suolpesue4 (Z) molaq ayl fouwedsue4 Joi %V& (OSZ'08) $ 005'840'T $ OSL'8ZI'T $ %S'Z ZSZ'T£ $ 009'08Z'I $ 84£'6bZ'T $ saluadad PIoS 4IOZ:ageiany sawadad PIoS EIOZ :aeeiany %£'S- (OOS'89) $ %9"6- (000'Z6) $ aped aleS 4TOZ'sn aped ales 4IOZ'sn 'wsassy SIOZ(%) 'wsassy STOZ ($) %L"L- (006'9ST) $ (000'4) $ %SVC 8ST'LbT $ %SI 0001,Z $ %4"£Z 000'94T $ 000'Z96'T $ 000'8L81 $ 000'ZZS'Z $ 000'9Z0'T $ 000%66 $ 000'L00'T $ 000'6ZZ'T $ 0001ST'T $ 000'S4T'T $ 000'L6Z'T $ 000'Z9T'T $ 000'6bT'T $ 000'0ZL'T $ 000'66S'T $ 000'94S'T $ 000'458 $ 000'TLL $ 000'£OL $ 000'898 $ 000'LLL $ 000'90L $ 006'4E0'Z $ ET/ET/SO T6ESS NW 'elezAem 'aApo JalunH "[SST 000'L66 $ ET/ET/80 T6ESS N W 'elezAem'anua roig moll!M 00ET 00S'L6Z'T $ 4T/TZ/80 T6ESS NW 'ewzAem'apip /30PPed 1se3 SL£ Z4814T0'T $ ET/91/60 T6ESS NV! 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I Activity for one month can sometimes look extreme due to small sample size. December 14 -50.0% New Listings 2013 ■ 2014 -33.3% Closed Sales +/- -50.0% -33.3% + 33.8% + 9.4 % + 18.3% -0.4% + 42.9% + 8.5% +2.1% Year to Date 244 + 15.1 % New Listings Change in Median Sales Price from Prior Year (6-Month Average)** + 60% + 40% + 20% 0% - 20% -40% - 60%-....... ..... _ ...... .... . 1-2008 7-2008 1-2009 7-2009 1-2010 Year to Date 2013 212 120 $527,500 $589,233 $154 94.1 % 146 2014 + / — 244 + 15.1% 134 + 11.7% $525,000 -0.5% $626,364 + 6.3% $162 + 5.2% 95.3% + 1.3% 95 -34.9% 2013 112014 + 11.7% Closed Sales Twin Cities Region -a Medina 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014 7-2014 Each dot n=presents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are Property Information Name: Keri & Stephen Weiss Address: 1392 Hunter Dr. PILO: 25-118-23-13-0008 Land Size: Ground Floor Area: Total Above Ground Area: Comment: Use: Single Family Residential 2014 2015 Assessor Recommendation Council Action Land. $372,000 $494,000 No change Building $1,009,000 $1,009,000 Total $1,381,000 $1,503,000 Comments: No c (0--A ge recommende ADDRESS: 1392 - HUNTER DR PID #: (80) 25-118-23-13-0008 Sale Date: 08/2011 Sale Price: $400,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 2012 Bedrooms: 4 Ground Floor Area: 2,943 Sq.Ft. Above Grade Area: 4,686 Sq.Ft. Bsmt. Area: 60% Finished Bsmt. Area: 80% Fireplaces: 3 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 0 3/4: 2 1/2: 2 Porches - Glazed: 0 Screened: 232 Open: 210 Deck: 47 Garage#1: 1,446 Type: Attached Garage #2: 0 Type: Lot Size: 283,140 Sq.Ft. 6.50 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: Application to Appeal 2015 Valuation or Classification (for Taxes Payable in 2010 To appear before the Medina Local Board of Appeal and Equalization, an application is preferable. Please complete the information below and return to the City, prior to the start of the Board of Appeal and Equalization Meeting on April 8, 2015 at 6:30 p.m. at Medina City Hall, 2052 County Road 24, Medina, MN 55340. You may appear in person, by letter, or be represented by an authorized agent. The City will accept e-mail applications at scottjohnson(i4ci.medina.mnms or via fax at (763) 473-9359 until 4:30 p.m. on April 8, 2015_ *You may also attach your 2015 Notice of Valuation and Classification — County of Hennepin to avoid completing the information with an * (asterisk) noted below. Property Owner Name(s)*: aa9fIk ciliQp7W-61)4 GLOUc-� Name of Authorized Agent (if applicable): Property Location (address)*: 453.5 fie/li R PPjPE Property Identification Number(s)*: RE— 1!$ — 3 — 02/ _ 00/ cy 1. Please mark an "X" below if you have contacted the City Assessor at (763) 473-3978 as requested. Yes x No 2. Assessment Year 2014 (as stated on your Notice of Valuation)*: ar oop 3. Assessment Year 2015 (as stated on your Notice ofValuation)*: cqs LJ(L©np 4, Your proposed valuation and/or classification for 2015: v Please provide below or attach supporting evidence to convince the board that the current year valuation or classification is incorrect. See additional information on the backside of this page on how to provide supporting evidence. 1555 Hunter Drive is 25 years old. It is large, but large homes are not the ones that are selling in this economy. Homes have recently sold on my street 1501 at 1,465,000; behind me at 2.025.000. The one behind me has an assessed value of 1,780,000. It is very similar to min in aee and size. Contact information: CITY OF MEDINA CITY ASSESSOR 2052 CO RD NO 24 HAMEL, MN 55340 763-473-3978 Property ID number 25-118-23 21 0019 Property Address 1555 HUNTER DR MEDINA Taxpayer(s) RONALD K GLOVER ROSEMARIE A MONTAGNA GLOVER 1555 HUNTER DR WAYZATA MN 55391-9661 ,c,-1•, .....,.�. ,,.�9-� 2016 2015 Values for taxes payable in Property tax notices are delivered on the following schedule: Step ' Valtlatibn Sad Clasaification Notice ..'! A`GIaset' ES;DENTIAL •. ; ts>tmptddMark?tValue ,"s 2,4og,000. �iiornesfead E?ieldsipn.$ 0 "TazabieWark2fValue $ 2,404,o00 Proposed Taxes Notice Step 2 Step 3 2016 Proposed Property Tax Statement 181 Half Taxes: 2^d Half Taxes: Total Taxes Due in 2016: !)�fallS in Sider! Coming November 2015 Coming March 2016 NOW is the time to question or appeal your CLASSIFICATION or VALUATION! It will be too late when proposed taxes are sent. The efre6ssar has determrnedyour property`s value(s) to be: ' E #un0e4rkotYaloe (E,MV) $ 203,gao several factors qan reduce the amount oi_value fhaU suto tax bfoct reemAcres t(alue Deferral g :"-o _- erve, latfe Deferr Opert`SpaceValue;Deferral: ,_` Platted,Vacant ad ExCtySi0r tirs,0kl tiouee Erelusron 1sabldd Vaterans>vxaluslo Y 9diii barrage Excision iOfnestead Marketyalue kelu Taxable MarketVatue (TMV) wing values (f any) are reflected in Newimprovement Value: The classification(s) of your property affect the rate at which your valueis, faxed.;. The following meetings are available to discuss Lobel:Board of Appeal and Etlualization(Open Beek _ 6:30 PM APR 8, 2015 MEDINA CITY HALL 2052 CO RD NO 24, HAMEL 763 473-3978 How to respond If you believe your valuation and property class are correct, it is not necessary to contact your assessor or attend any listed meetings. Do you feel the property information is not correct? Do you disagree with the values? Do you have other questions about this notice? Please contact the Assessor's Office first to discuss any questions or concerns. Often your issues can be resolved at this level. If your questions or concerns are not resolved, more formal appeal options are available. Please read the back of this notice for important information about the formal appeal process. or appeal your value and classification: unty lBoard ti Appeal and Equall atiots Monday, June 15,2015 Hennepin County Government Center 300 South 6th Street, Minneapolis MN 55487 Appointments are required and available through 7:00 p.m. To make an appointment, call 612-348-7050 by May 20, 2015 Email from Mar 30 2015 - Matrix Portal Page 1 of 1 Robert Hare Real Estate Broker - C. B. Burnet Realty -Wayzata Market leader for over 30 years Office: 95 Cell: 61 rhare@robe Map J Previous • Next • 1-25 of 28 at L25 v per page ❑ &-1 Updated List # Change Type S Type Address 1 ❑ Never 4467272 Closed->$748K S Nil SF 4663 Bluebell Trall N 2 ❑ Never 4508832 Closed->$759K S L 0 '% SF 4415 Bluebell Trall S 3 ❑ Never 4438945 Closed->$764K S lgi 0 fl/o SF 4566 Trillium Drive N 4 ❑ Never 4400141 Closed->$750K S NO SF 4657 Medina Lake Drive 5 ❑ Never 4481971 Closed->$757K S Iii 0 '% SF 4550 Trillium Drive N 6 ❑ Never 4426535 Closed->$769K S lii 0 % SF 4436 Bluebell Trail S 7 ❑ Never 4487564 Closed->$755K S N 0 0 SF 4543 Bluebell Trail N 8 ❑ Never 4511413 Closed->$796K S L. e SF 4661 Bluebell Trail N 9 ❑ Never 4474364 Closed->$774K S [11 0 SF 4640 Bluebell Trail N 10 ❑ Never 4511416 Closed->$812K S .a • °/d SF 4502 Bluebell Trail S 11 ❑ Never 4441856 Closed->$840K S IN 0 nja SF 313 Lythrum Lane 12 ❑ Never 4395328 Closed->$850K S ill SF 375 Lythrum Lane 13 ❑ Never 4421202 Closed->$862K S NO SF 532 Medina Road 14 ❑ Never 4438898 Closed->$865K S NO SF 755 Medina Road 15 ❑ Never 4466903 Closed->$940K S N °/„' SF 2530 Keller Road 16 ❑ Never 4474472 Closed->$900K S il SF 2425 Tamarack Drive 17 ❑ Never 4422194 Closed->$985K S N a SF 4215 Wild Meadows Drii 18 ❑ Never 4415268 Closed->$985K S Pi SF 1722 Tamarack Drive 19 ❑ Never 4429136 Closed->$1,000K S P SF 4105 Wild Meadows Dili 20 ❑ Never 4446222 Closed->$1,090K S 11 SF 4245 Wild Meadows Drii 21 ❑ Never 4426951 Closed->$1,090K S N SF 4265 Wild Meadows Drii 22 ❑ Never 4355648 Closed->$1,100K S N SF 295 Calamus Circle 23 ❑ Never 4487402 Closed->$1,250K S P '% SF 1592 Homestead Trail 24 ❑ Never 4495111 Closed->$1,297K S N 4/fl` SF 375 E Paddock Circle 25 ❑ Never 4521771 Closed->$1,315K S � _ e SF 2950 Parkview Drive Checked 0 Print http://matrix.northstarmis. com/Matrix/Publie/Portal.aspx?ID=15310609497 4/8/2015 Email from Mar 30 2015 - Matrix Portal Page 1 of 1 Map Robert Hare Real Estate Broker - C. B. Burnet Realty -Wayzata Market leader for over 30 years Previous • Next • 26-28 of 28 at 125 ❑ [ Updated List # 26 ❑ Never 4424718 27 ❑ Never 4344519 28 ❑ Never 4411328 Checked 0 Print lv Office: 95 Cell: 61 rhareArobe per page Change Type S TypeAddress Closed->$1,460K S gge e SF 101 Primrose Lane Closed->$1,450K S © /a` SF 370 Bergamot Drive Closed->$1,765K S I e SF 790 Navajo Road W http://matrix.northstarmis.com/Matrix/Public/Portal.aspx?ID=153 l 0609497 4/8/2015 Scott Johnson From: ronkg@aol.com Sent: Wednesday, April 08, 2015 5:30 PM To: Scott Johnson Subject: 1555 Hunter Drive, Medina - 2 Scott: I apologize for another email, but here is more information on houses on my street that may help in making a decision tonight. 1.) 1501 - Sold 10/12 for $1.4M - 8402 sg. ft.; 5 bedrooms / 6 baths - last tax value I can find = $1.26M 2.) 1551 - Sold 5/13 for $2.03M - 9000 sq. ft.; 5 bedrooms / 6 baths - I understand their tax value is $1.78M 3.) 1545 - Sold 3/13 for $1.57M - 7000 sq ft.; 3 bedrooms / 4 baths - 4.) 1492 - Sold for $3.5M -17250 sq. ft. 5.) 1545 - Sold 9/14 for $4.63M - 11410 sq. ft.; 5 bedrooms / 7 baths - built 2000 18 acres - a magnificent home and property. Regards, Ron Glover Property Information Name: R0Y1)Pvub G—LOvEQZ Address: 1555 Hunter Drive PID# 25 --t t 8 — 2 3 —2.1 ._ 001q Land Size: Ground Floor Area: Total Above Ground Area: Comment: Use: Single Family 2014 2015 Assessor Recommendation Council Action Land. $ 808,000 $ 929,000 S IVo Change Building $ 1,475,000 $ 1,475,000 $ No Change Total $ 2,283,000 ., iii Z t4©q.1 oo c., $ No Change Comments RECOMMEND NO CHANGE ADDRESS: 1555 - HUNTER DR PID #: (80) 25-118-23-21-0019 Sale Date: 03/2002 Sale Price: $2,075,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 1990 Bedrooms: 5 Ground Floor Area: 4,057 Sq.Ft. Above Grade Area: 7,219 Sq.Ft. Bsmt. Area: 10013/0 Finished Bsmt. Area: 70% Fireplaces: 4 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 3 3/4: 2 1/2: 2 Porches - Glazed: 0 Screened: 0 Open: 48 Deck: 335 Garage #1: 1,084 Type: Attached Garage #2: 1,156 Type: Detached Lot Size: 653,994 Sq.Ft. 15.01 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: 3-16-2015 City of Medina City Assessor 2052 County RD 24 Medina MN 55340-9790 Attached Proposal from Aspen Contractors, Inc. is for work to be completed this summer. I will be applying for permit for this work. I am fixing my home's water intrusion issues as I can afford it and where the priority issues are. Until fixed the home should be appraised with consideration for this existing condition. Note 2013 appraisal by CVS was $360,000. Thanks Paul J Gannon AIA 2150 Tamarack Drive Medina MN 55356 612-716-5097 Application to appeal 2015 valuation taxes payable in 2016 Proposal from Aspen Contractors, Inc. City of Medina city assessor letter dated 4-30-2014 Valuation notice 2015 CVS home appraisal Photos of issue. Application to Appeal 2015 Valuation To appear before the Medina Local Board complete the information below and return Equalization Meeting on April 8, 2015 MN 55340. You may appear in person, accept e-mail applications at scott johnsonAci.medina.mn.us /s Taxes Board County 473-9359 Payable in 2016) is preferable. Please of Appeal and Road 24, Medina, agent. The City will until 4:30 p.m. County of MEDINA or Classification (for of Appeal and Equalization, an application to the City prior to the start of the at 6:30 ma. at Medina City Hall, 2052 by letter, or be represented by an authorized or via fax at (763) on April 8, 2015. *You may also attach ' your 2015 with Notice of Valuation and Classification— an * (asterisk) noted below. Hennepin to avoid completing the ormation Property Owner Name(s)*: frvd//r (16 e) ht 66WHOW Name of Authorized Agent (if applicable): Property Location (address)*: �/� ,Q /�l i � K�S D� , r' iv1 N 04E011 � Property Identification Number(s)*: 1. Please marlan "X" below if you have Yes No No (�7 e r A - fir' 2� - ® V Q � ✓ ✓ 347 contacted your Notice your Notice evidence information the City Assessor at (763) 473-3978 as requested. of Valuation)*: 1 I q e D o 2. Assessment Year 2014 (as stated on 3. Assessment Year 2015 (as stated on 4. Your proposed valuation and/or classification Please provide below or attach supporting classification is incorrect. See additional supporting evidence. i of Valuation)*: 0 n' rot t for 2015: to convince the board that the current year valuation or on the backside of this page on how to provide 2.0 "l ‘, - 3./0.2i1s 07 ([/%may i o7 •' n.ture, g Date Phone # (DHytime) Appeals Must Be Substantiated by Facts Appeals must be based on facts. The property owner must present supporting evidence to convince the board that the current year valuation or classification is incorrect. The supporting evidence can be presented either in person, through a letter or through an authorized representative. The property owner should describe the property, how the property is used, as well as its current condition. Photos can be very helpful in illustrating the condition of the property. The property owner should review the assessor's data on the property to make sure that it is correct. The property owner should also review recent property sales in the area. At the assessor's office, the property owner can review Certificates of Real Estate Value (CRVs) for properties in the area. Other evidence such as a recent appraisal may also be helpful information to present. The property owner should keep in mind that taxes are not the issue. The board should not consider arguments based on the ability of the taxpayer to pay, services received for taxes paid or tax equalization. Given the broad spectrum of tax capacity rates, tax classifications and state credit programs that apply to various properties throughout the jurisdiction, tax comparisons are misleading. To strengthen their appeal, property owners should present evidence about the property's value or classification, not how much they are paying in taxes. Property in Minnesota is classified according to its actual use, such as commercial, agricultural, or residential homestead, not zoning. Property owners disputing the classification need to present information that proves how they use the property. For example, a property is classified as residential. The property owner believes that his/her property is eligible for the agricultural classification and appeals to the local board. In order for the board to change the classification to agricultural, the owner must prove that the property is used agriculturally and meet the statutory requirements of the agricultural class. Source: Minnesota Department of Revenue Local Board of Appeal and Equalization Handbook, July 2009 CITY OF MEDINA City Assessor 2052 Co Rd No 24 Medina, MN 55340 763-473-3978 April 30, 2014 Paul Gannon 2150 Tamarack Dr. Long Lake, MN 55356 RE: 23-118-23-13-0005 Dear Mr. Gannon: The Medina Board of Equalization reviewed you property valuation on April 9, 2014. The Board acted on your property value, as of January 2, 2014 and reduced your valuation to $600,000. This change is effective for the 2015 taxes and has been made to the tax records. No further action is required if you agree with the change. If you disagree with the action of the board, you may appeal to the Hennepin County Board of Equalization. You may make an appointment with the Hennepin County Board of Equalization by calling 612-348-7050. The absolute deadline for applications is May 21, 2014. If you have further questions, please contact us at 763-473-3978. Assessor Rolf Erickson ASPEN BUILDING CONTRACTORS, Inc. 3215 Nathan Lane No. Plymouth, Mn. 55441 Phone 612-749-0684 Fax 763-546-0126 Mn Lic No BC 317357 dour(ahaspenbuildingcontractors. corn Paul Gannon 2150 Tamarack Drive Media, Mn. 55356 Proposal January 30, 2015 The removal, haul away and installation of 2 main floor living room windows, on either side of the gas fireplace, with new trim. The windows furnished by the owner. To include: • All necessary permits required by the city of Medina. • Remove and haul away the existing windows and trim. • An allowance of $3800.00 (materials and labor) is included in the total cost for removing /replacing any water damaged framing and wall sheathing, then patching/replacing the stucco. • Patch / replace any damaged drywall, tape and finish ready for paint. • Install new hardwood window casing, to match the existing. • All clean up and haul away of construction debris. • Painting, staining and finishing by owner. Total Cost $5890.00 OPTIOW. Remove and replace 1 double hung "Marvin" window in the sitting room off the kitchen: • Remove and haul away the window and trim. • An allowance of $2700.00 (materials and labor) is included in the total cosi for removing/replacing any water damaged framing, wall sheathing, then patching/replacing the stucco. • Patch and finish and damaged drywall then install new hardwood window casing. • Painting and finishing by owner. Total Cost $4925.00 Respectfully Submitted Doug Tapio Aspen Building Contractors, Inc. Your assessor's Contact information: CITY OF MEDINA CITY ASSESSOR 2052 CO RD NO 24 HAMEL, MN 55340 763-473-3978 Property ID number 23-118-23 13 0005 Property Address 2150 TAMARACK DR MEDINA Taxpayer(s) PAUL & CHARITY GANNON 2150 TAMARACK DR LONG LAKE MN 55356-9585 le• the -time t TIOPENCMCEt 2014 Values for taxes payable in Property tax notices are delivered on the following schedule: Step Valuation and Classification Notice 1 Step 2 Step 3 Class RESIDENTIAL Estimated Market Value Homestead Exclusion Taxable Market Value S 719,000 s 0 5 719,000 Proposed Taxes Notice 2014 Tax 2015 Proposed Change Property Tax Statement Taxes Due May 15 Taxes Due October 15/Nov 15' 'Agricultural Class Total Taxes Due in 2015 See details in shaded area below Coming November 2014 Coming. March 2015 vStlflrr 3rappticayour'3s'LAed`v`S!FItiw"ri"li-rO:41"or V,MII UATI`i NI It will be too late when proposed taxes are sent. Your property's Classification(s) and Values Taxes payable in 2014 Taxes payable in 2015 (2013 assessment) (2014 assessment) The assessor has determined your property's classification(s) to be: RESIDENTIAL RESIDENTIAL HOMESTEAD HOMESTEAD If this box is checked, your classification has changed from last year's assessment The assessor has determined your property's value(s) to be: Estimated Market Value (EMV) s 701,000 Several factors can reduce the amount of value that is subject to lax. Green Acres Value Deferral: s o $ Rural Preserve Value Deferral: s o $ Open Space Value Deferral: $ o 0 Platted Vacant Land Exclusion: $ o s This Old House Exclusion: $ . o $ Disabled Veterans Exclusion: g o s Mold Damage Exclusion: $ o s Homestead Market Value Exclusion: s o s Taxable Market Value (TMV): s 701,000 The following values (if any) are reflected in your estimated and taxable market values: New Improvement Value: s S 719,000 0 a 0 0 • 0 0 s 719,000 0 How to respond If you believe your valuation and property class are correct, it is not necessary to contact your assessor or attend any listed meetings. Do you feel the property information is not correct? Do you disagree with the values? Do you have other questions about this notice? Please contact the Assessor's Office first to discuss any questions or concerns, Often your issues can be resolved at this level. If your questions or concerns are not resolved, more formal appeal options are available. Please read the back of this notice for important Information about the formal appeal process. The classification(s) of your property affect the rate at which your value is taxed. The following meetings are available to discuss or appeal your value and classification: Local Board of Appeal and Equalization/Open Book 6:30 PM APR 9, 2014 MEDINA CITY HALL 2052 CO RD NO 24, HAMEL 763 473-3978 County Board of Appeal and Equalization Monday, June 16, 2014 Hennepin County Government Center 300 South 6th Street, Minneapolis MN 55487 Appointments are required and available through 7:00 p.m. To make an appointment, call 612-348-7050 by May 21, 2014 File No. CVS02682 APPRAISAL OF LOCATED AT: 2150 Tamarack Dr Medina, MN 55356 CLIENT: Paul and Charity Gannon 2150 Tamarack Dr Medina, MN 55356 AS OF: May 1, 2013 BY: Margaret Berlin File No. CVS02682 File Number: CVS02682 Client: Paul and Charity Gannon 2150 Tamarack Dr Medina, MN 55356 Invoice # : Order Date : Reference/Case # : PO Number : 2150 Tamarack Dr Medina, MN 55356 ********* INVOICE ********* 1 /28/2013 Appraisal Fee $ 700.00 Paid by both parties $-700.00 Invoice Total $ 0.00 State Sales Tax @ $ 0.00 Deposit ($ ) Deposit ($ ) Amount Due $ 0.00 Terms: Net 10 Days Appraiser: Margaret Berlin Please Make Check Payable To: CVS, Inc 4820 Minnetonka Blvd #303 St Louis Park, MN 55416 Fed. I.D. #: 41-1795870 To insure proper payment please identify your payment with file number, address or borrower's name File No. CVS02682 Paul and Charity Gannon 2150 Tamarack Dr Medina, MN 55356 File Number: CVS02682 In accordance with your request, I have appraised the real property at: 2150 Tamarack Dr Medina, MN 55356 The purpose of this appraisal is to develop an opinion of the defined value of the subject property, as improved. The property rights appraised are the fee simple interest in the site and improvements. In my opinion, the defined value of the property as of May 1, 2013 is: $360,000 Three Hundred Sixty Thousand Dollars The attached report contains the description, analysis and supportive data for the conclusions, final opinion of value, descriptive photographs, assignment conditions and appropriate certifications. Margarti Berlin Summary Format He No. CVS02682 USPAP ADDENDUM Borrower: N/A: Value Estimate Only Property Address: 2150 Tamarack Dr City: Medina County: Hennepin State: MN Zip Code: 55356 Lender: Paul and Charity Gannon Reasonable Exposure Time My opinion of a reasonable exposure time for the subject property at the market value stated in this report is. 200-260 Days The exposure time estimated above reflects market trends for this area and the condition of the subject. Additional Certifications 0 I have performed NO services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. ❑ I HAVE performed services, as an appraiser or in another capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. Those services are described in the comments below. Additional Comments APPRAISER: SUPERVISORY APPRAISER (only if required): 4: Signature: 4-4.- -' Signature. Name: Margaret din Name: Date Signed. 05/30/2013 Date Signed. State Certification #: 4003668 State Certification #: or State License #: or State License it. or Other (describe): State #: State. State: MN Expiration Date of Certification or License. Expiration Date of Certification or License: 08/31/2014 Supervisory Appraiser inspection of Subject Property: Effective Date of Appraisal. 5/1/2013 ❑ Did Not ❑ Exterior -only from street ❑ Interior and Exterior Produced using ACI savor.. 800.281.8721 yew acineb.wm USPAP_12Nr05112012 Summary Format Residential Appraisal Report File No. CVS02682 The purpose of this appraisal report is to provide the client with a credible opinion of the defined value of the subject property, given the intended use of the appraisal. w CliemName/Intended User Paul and Charity Gannon E-mail O Client Address 2150 Tamarack Dr city Medina State MN zip 55356 Ei,- Addkional Intended user(s) Macaulay Law Offices, Ltd, Cheney Hatcher Law and Mediation Center, Court personnel, Judges a Intended use Market Value for Marriage Dissolution Property Address 2150 Tamarack Dr Cky Medina state MN Zip 55356 r- owner of Public Record Paul J and Charity L B Gannon county Hennepin Legal Description Lot 2 Block 1 Peterson Johnson Addition os,o Assessor's Parcel # 2311823130005 Tax Year 2012 R.E. Taxes E 9,227.14 N Neighborhood Name NA Map Reference 90 A4 (Kings) Census Tract 0271.01 r� Property Rights Appraised M Fee Simple ❑ Leasehold n Other (describe) My research I j did IX 0 did not reveal any prior sales ortransfers of the subject property for the three years prior to the effective date of this appraisal. PriorSalefiransfer: Date Price Source(s) Hennepin County Vacant Land Sale Analysis of prior sale or transfer history of the subject property (and comparable sales, if applicable) > ce 0 r h x (/) w J Q in Offerings, options and contracts as of the effective date of the appraisal The subject is not currently offered for sale through the MLS system nor are there any pendinq contracts known to the appraiser. Neighborhood Characteristics One -Unit HousingTrends One -Unit Housing Present Land Use% Location Urban X Suburban Rural Property Values �{IIncreasing —, Stable X Declining PRICE AGE One-Unk 95% % Built -Up X Over75% 25.75% Under25% Demand/Supply JShortage X1 In Balance Over Supply WOO) (yrs) 2-4 Unit 0 % % Growth Rapid Stable Slow Marketing Time 'JJ11Under 3mths J 3-6mths Over 6mths 95Low 0 Mulct-Famlly 0%% o Neighborhood Boundaries The subject is located In a neighborhood which lies south of Hwy 55, west of the 3000 Hi 130 Commenaal 5% % E, Plymouth City Limits, north of the Orono City Limits and east of the Baker Park Reserve. 700 Pred. 25 Other % p Neighborhood Description See Attached Addendum. m x 0 w Z Market Conditions (including support for the above conclusions) See Attached Addendum. Dimensions 613.85 x 594.99 x 594.41 x 638,7 Area 343938 SF 7.9 Ac Shape Irregular view Wooded,County Rd Specific Zoning Classification RR Zoning Description Rural Residential Zoning Compliance 0 Legal n Legal Nonconforming (Grandfathered Use) nNo Zoning n Illegal (describe) Is the highest and best use of the subject property as improved (or as proposed per plans and specifications) the present use? ® Yes U No If No, describe. w Utilities Public Other (describe) Public Other (describe) Off -site Improvements —Type Public Private N Electricity 4water .r street Asphalt Gas X_ Sanitary Sewer X Alley None Site comments The subject is located on a lower traffic residential street and backs to a hobby farm which fronts County Rd 24. The subject home is visible from County Rd 24 and County Rd 24 is visible from the site, traffic noise is audible from the subject site. The views are generally wooded to the rear and the front of the site is enhanced by a pond which is man made. The home is set back from a very low traffic spur street and accessed by a long driveway. There is a front paver patio, rear paver patio, rear two tiered deck. __ ..• GENERAL DESCRIPTION FOUNDATION EXTERIOR DESCRIPTION materials INTERIOR materials Units UOne ❑ One wrAccunk ❑ UConcrete Slab Crawl Space Foundation Walls Concrete Floors Maple,Cpt,Tlle Walls Drywall,Painted # of Stories 2 i] Full Basement Partial Basement Exterior Walls StUCCO Tyre (X Det. Att. ❑S-Det.lEndlink Basement Area 1360 sq.IL Roof Surface COmp.Shgl. Trim/Finish Maple,Stained Existing ❑Proposed Under Const. Basement Finish 88% Gutters& Downspouts Metal Bath Floor Ceramic,Mpl,Slate Bath Wainscot Ceramic Design (Style) Traditional Story ]XX Outside Entry/Fait Li Sump Pump Window Type Casement Year Built1994 StormSash/Insulated Insulated Car Storage Li None Effective Age (Yrs)19 Screens Yes Driveway # of Cars 25 Attic I None Heatin. X-IFWAI( HW JRadiant Amenities __IKI WoodStove(s)#0 DrritvewaySurface Asphalt,Conc X Garage if of Cars 3 Drop Stair IJuther FuelGas X. Fireplace(s) # 1 Fence None z . Floor ,'Stairs XScuale Cooling X❑ Central Air Conditioning © Patio/Deck P, D Porch Carport # of Cars 0 u, Finished ' Heated pj�; Individual I jOther Pool None Other X Att. El Det. U Built-in Appliances P Refrigerator IXIRange/Oven IXJDishwasher (X)Disposal IX'Miaowave IP]WasherlDiyer 1, j Other (describe) Finished area above grade contains: 9 Rooms 3 Bedrooms 2.5 Bath(s) 2,738 Square Feet of Gross Living Area Above Grade z Additional Features See Attached Addendum. Comments on the Improvements See Attached Addendum. using AG 5ofiwae, a00.2H.8127 wow.aclWPL.com ggisrwratpurprAnpr,L. 4,•.:ccn ared Page 1 ol 4 This form Copyrigle 2005-2010 AG Didsion al ISO Cities Saviors, Inc, Al ages Reserved. (gPAR^) General Purpose Ap Grrn. pppon 0NZO1D 001_7005282010 Summary Format Residential Appraisal Report File No. CVS02682 FEATURE I SUBJECT COMPARABLE SALE NO.1 COMPARABLE SALE NO.2 COMPARABLE SALE NO.3 2150 Tamarack Dr Address Medina 2175 Tamarack Drive Medina, MN 55356 2675 Silver View Drive Orono, MN 55356 1180 Phillips Drive Orono, MN 55356 Proximity to Subject 2 Blocks 2.5 Miles 2 Miles Sale Price S Value Est. $ 593 000 $ 572,000 $ 550,000 Sale Price/Gross Uv. Area $ 0.00 sq. ft. $ 206.91 sq. ft. $ 234.62 sq. ft. 4 178.22 sq. ft. Data Source(s) Inspection MLS-County Records-Extlnsp MLS-County Records-Extlnsp MLS-County Records-Extlnsp Verification Source(s) MT:143 Days - OM:9/4/2012 MT:19 Days - OM:10/6/2012 MT:319 Days - OM:9/13/2012 VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION •14SAdjustnent DESCRIPTION •I-)sAuxavrient DESCRIPTION .05AGgusonent Sale orFinandng Concessions N/A Conventional No Concessions Conventional No Concessions Conventional $10000 Cncsns. -10,000 Date ofSalelrime N/A 08/31/2012 11/30/2012 09/26/2012 Location Suburban/Avg+ Suburban/Avg+ Suburban/Avg+ Suburban/Avg+ Leasehdd/FeeSimple Fee Simple Fee Simple Fee Simple Fee Simple Site 7.9 Ac 10.24 Ac. -16,000 2.77 Ac. 79,700 2.65 Ac. 82 700 View Wd'd,County Rd Pond, Private -30,000 Wooded -11,400 Pond,CountyRd 0 - Design (Style) Traditional Sty Contemp 1Sty 0 Colonial 0 Traditional 2 Sty Quality ofConstruction Good Good Good Good Actual Age 19 35 -80,000 23 -80,000 25 -80,000 Condition Avera•e Avera e- 60,000 Good -55,000 Avera.e+ -20,000 z Above Grade Total Bdtms Baths Total Brims Baths Total Bdrms. Baths -10,000 Total Bdrms Baths Vo Room Count 9 3 2.5 6 1 2.5 0 9 4 . 2.5 8 4 2.5 a Gross Living Area 45 2,738 sq. ft. 2,866 sq. ft. -5,800 2,438 sq. ft. 13,500 3,086 sq.ft -15,700 2 o Basement & Finished Rooms Below Grade 1360 Sq.Ft. 1195Fin/2-1-1 2866.Sq.Ft. 2021Fin/5-3-1 -15,100 -20,700 1298 Sq.Ft. 898Fin/2-0-1 0 7,400 1620 Sq.Ft. 1410Fin/4-1-1 -2,600 -5,400 w Functional Utility Walkout Bsmt Walkout Bsmt Walkout Bsmt Walkout Bsmt a Heating/Cooling FWA C/Air FWA C/Air FWA C/Air FWA C/Air LI Energy Efficient Items Typical Vintage Typical Vintage Typical Vintage Typical Vintage Garage/Carport 3 Car Garage 3 Car Garage 3 Car Garage ' 3 Car Garage Porch/Patio/Deck Patios,Deck Patio,Deck 1,000 Deck 3,000 3Ss.Prc.,Dk,Pat -8,000 Addl Features 1 FP,WtBar 3 Fireplaces 0 2 Fireplaces 0 2 Fireplaces 0 Add! Features Bonus Room BG-PI,Tennis 0 None 7,500 None 7,500 Investor Proftt,Finance,Costs -146,000 -146,000 -146,000 Net Adjustment (Total) u+ bd- 8 252,600 Li. U- $ 191,300 ❑+ $ 197,500 Adjusted Sale Price ofComparables Net Adj. -42.6 % Gross AI.63.2 % $ 340,400 Net Adj. -33.4 % GrossArry.72.3 % $ 380,700 _15(1- Net Adj. -35.9 % Gross Adj.68.7 % $ 352,500 Summary of Sales Companson Approach See Attached Addendum. COSTAPPROACHTOVALUE ' Site value COMMIS The subject's estimated site value has been determined by a study of sold and currently active sites of similar size located in Medina and Orono. = ESTIMATED ❑ REPRODUCTION OR ❑ REPLACEMENT COST NEW OPINION OF SITE VALUE - S 300,000 q Source of cost data Dwelling Sq. Ft. @ $ ............ = $ Quality rating from cost service Effective date of cost data Sq. Ft. @ $ - $ a Comments on Cost Approach (gross living area calculations, depreciation, etc.) 1 The Cost Approach was considered but not developed as it was Garage/Carport Sq. Ft. @ $ .......... = $ o deemed inapplicable to a differentially updated component Total Estimate of Cost -New . = $ " home of the subject's vintage because of the subjective nature Less 70 Physical Functional External of the the depreciation estimates required with the consequent Depreciation = $ ( ) potential for a misleading value indication. Depredated cost of Improvements = $ "As -is" Value of She Improvements = $ INDICATED VALUE BY COST APPROACH = $ INCOME APPROACH TO VALUE l' Estimated Monthly Markel Rent S X Gross Rent Multiplier N/A = $ N/A Indicated Value by Income Approach o Summary of Income Approach (including support for market rent and GRM) ' z Indicated Value by: Sales Comparison Approach$360,000 Cost Approach (If developed) E Income Approach (If developed)S All reliance is placed on the sales comparison approach. The cost approach is deemed inapplicable to a differentially updated component home of the the subjects vintage. The Income Approach is considered unreliable due to the lack of sufficient rental o data. I hereby certify that I am competent by education, training and experience to perform this appraisal. a This appraisal is made U"as is," subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed, o❑ subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed ❑ subject to the following: a- w Based on the scope of work, assumptions, limiting conditions and appraiser's certification, my (our) opinion of the defined value of the real property thatis the subject of this report is $ 360,000 as of 5/1/2013, which isthe effective date ofthis appraisal. Cpar,.. Prodrsclo no AC1 software, 1100.214.021 www.aa5web.mm Page 2 al CVS, Inc. This Ion Copy141•2005-2010 ACI Oieision of I50 Clams Somas. Inc.. Ag Ragtas Reserved. 1gPAR""I General Purpose Ap la4A etmo52622M Summary Format Residential Appraisal Resort File No. CVS02682 FEATURE 1 SUBJECT COMPARABLE SALE NO.4 COMPARABLE SALE N0. 5 COMPARABLE SALE NO.6 2150 Tamarack Dr Address Medina 4785 Creekwood Trail Orono, MN 55359 2732 Deerhill Road Medina, MN 55356 Proximity to Subject 4.5 Miles 2 Miles Sale Price $ Value Est. S 675,000 S 655,000 s Sale Price/Gross liv. Area $ 0.00 sq. ft. $ 199.12 sq. ft. $ 217.75 sq. ft $ 0.00 sq. ft. Data Source(s) Inspection MLS-County Records-Extlnsp MLS-County Records-Extlnsp Verification Source(s) MT:179 Days - OM:4/4/2013 MT:57 Days VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +0sAaiumnt DESCRIPTION .0sAviusunea1 DESCRIPTION a(•)sAim..t Sale or Financing Concessions N/A PENDING PENDING ACTIVE ACTIVE Date of SaleTme N/A 6/14/2013 -40,500 NA -39,300 Location Suburban/Avg+ Suburban/Avg+ Suburban/Avg+ Leasehold/FeeSimple Fee Simple Fee Simple Fee Simple Site 7.9 Ac 5.3 Ac. 21,000 7.03 Ac. 8,000 View Wd'd,County Rd Wd'd, CountyRd Wd'd,Wtland -13,100 Design (Style) Traditional 2 Sty Traditional 2 Sty Traditional 2 Sty Quality of Construction Good Good Good Actual Age 19 22 -80,000 32 -80,000 Condition Avera a Avera .e+ -30,000 Avera e+ -30,000 Above Grade Total Bdrms Baths Taal Bdrmz Baths .TOGA Bdms. Baas Tmal Brines Boars Room Count 9 3 2.5 9 4 2.5 9 42.5 Gross Living Area 45 2,738 sq. ft. 3,390 sq. ft. -29,300 3,008 sq. ft. -12,200 sq. ft. Basement & Finished Rooms Below Grade 1360 Sq.Ft. 1195Fin/2-1-1 1551 Sq.Ft. 1285Fhv4-1-1 -1,900 0 1879 Sq.Ft. 936Fin/1-0-1 -5,200 6,500 Functional utility Walkout Bsmt WalkoutSsmt No Bsmt.Egrs 8,000 Heating/Cooling FWA C/Air FWA C/Air LP FWA-C/A 0 Energy Efficient Items Typical Vintage Typical Vintage Typical Vintage Garage/Carport 3 Car Garage 3 Car Garage 2 Att.Garage 8,000 Porch/Patio/Deck . Patios,Deck Patio,Deck 1,000 ScPorch,Dk,Pat -6,000 Addl Features 1 FP,WtBar 2 FP,WtBr+ -5,000 4 FP, IndrPool -6,000 Add'I Features Bonus Room None 7,500 None 7,500 Investor Profit,Finance,Costs -146,000 -146,000 i Net Adjustment (rota ft n+ XD- S 303,200 n QX - $ 299,800 ®+ u o Adjusted Sale Price ceofComparables Net Adj. -44.9 % Grossaij,53.7 % $ 371,800 Net Adj. -45.8 % GrossAdl.57.4 % $ 355,200 Net Adj. 0.0 % GrossAdi.0.0 % $ D a Summary of Sales Companson Approach z o rn IT 2 0 U co) W a Q N e, AOd.2J/.9727 woes cam This tam Upright a 20042a111ACl Birisbnol60 Claims Semi., Inc. AI legs Reserve (gPARe') General Purpose Appalsal Eris Bs1n GPAAt 1oa5262010 par, Additional Comparables Summary Format Residential Appraisal Report File No. CVS02682 Scope of Work, Assumptions and Limiting Conditions Scope of work is defined in the Uniform Standards of Professional Appraisal Practice as " the type and extent of research and analyses in an assignment." In short, scope of work Is simply what the appraiser did and did not do during the course of the assignment. It includes, but is not limited to: the extent to which the property is identified and inspected, the type and extent of data researched, the type and extent of analyses applied to arrive at opinions or conclusions. The scope of this appraisal and ensuing discussion in this report are specific to the needs of the client, other identified intended users and to the Intended use of the report. This report was prepared for the sole and exclusive use of the client and other identified Intended users for the identified intended use and its use by any other parties is prohibited. The appraiser is not responsible for unauthorized use of the report. The appraiser's certification appearing in this appraisal report Is subject to the following conditions and to such other specific conditions as are set forth by the appraiser in the report. All extraordinary assumptions and hypothetical conditions are stated in the report and might have affected the assignment results. 1. The appraiser assumes no responsibility for matters of a legal nature affecting the property appraised or title thereto, nor does the appraiser render any opinion as to the title, which is assumed fo be good and marketable. The property is appraised as though under responsible ownership. 2. Any sketch in this report may show approximate dimensions and is included only to assist the reader in visualizing the property. The appraiser has made no survey of the property. 3. The appraiser is not required to give testimony or appear in court because of having made the appraisal with reference to the properly in question, unless arrangements have been previously made thereto. 4. Neither all, nor any pan of the content of this report, copy or other media thereof (including conclusions as to the property value, the identity of the appraiser, professional designations, or the firm with which the appraiser Is connected), shall be used for any purposes by anyone but the client and other intended users as identified in this report, nor shall it be conveyed by anyone to the public through advertising, public relations, news, sales, or other media, wkhout the written consent of the appraiser. 5. The appraiser will not disclose the contents of this appraisal report unless required by applicable law or as specified in the Uniform Standards of Professional Appraisal Practice. 6. Information, estimates, and opinions furnished to the appraiser, and contained in the report, were obtained from sources considered reliable and believed to be true and correct. However, no responsibility for accuracy of such items furnished to the appraiser is assumed by the appraiser. 7. The appraiser assumes that there are no hidden or unapparent conditions of the property, subsoil, or structures, which would render it more or less valuable. The appraiser assumes no responsibility for such conditions, or for engineering or testing, which might be required to discover such factors. This appraisal is not an environmental assessment of the property and should not be considered as such. 8. The appraiser specializes in the valuation of real property and is not a home inspector, building contractor, structural engineer, or similar expert, unless otherwise noted. The appraiser did not conduct the Intensive type of field observations of the kind intended to seek and discover property defects. The viewing of the property and any improvements is for purposes of developing an opinion of the defined value of the property, given the intended use of this assignment. Statements regarding condkion are based on surface observations only. The appraiser claims no special expertise regarding issues including, but not limited to: foundation settlement basement moisture problems, wood destroying (or other) insects, pest infestation, radon gas, lead based paint, mold or environmental issues. Unless otherwise indicated, mechanical systems were not activated or tested. This appraisal report should not be used to disclose the condition of the property as it relates to the presence/absence of defects. The client is invited and encouraged to employ qualified experts to inspect and address areas of concern. If negative conditions are discovered, the opinion of value may be affected: Unless otherwise noted, the appraiser assumes the components that constitute the subject property improvement(s) are fundamentally sound and in working order: Any viewing of the property by the appraiser was limited to readily observable areas. Unless otherwise noted, attics and crawl space areas were not accessed. The appraiser did not move furniture, floor coverings or other kerns that may restrict the viewing of the property. 9. Appraisals involving hypothetical conditions related to completion of new construction, repairs or alteration are based on the assumption that such completion, atteration or repairs will be competently performed. 10. Unless the intended use of this appraisal specifically includes issues of property insurance coverage, this appraisal should not be used for such purposes. Reproduction or Replacement cost figures used In the cost approach are for valuation purposes only, given the intended use of the assignment The Definition of Value used in this assignment is unlikely to be consistent with the definition of insurable Value for property insurance coverage/use. • 11. The ACl General Purpose Appraisal Report (GP AR''') Is not intended for use in transactions that require a Fannie Mae 1004/Freddie Mac 70 form, also known as the Uniform Residential Appraisal Report (URAR): Additional Comments Related To Scope Of Work, Assumptions and Limiting Conditions g,i„..,, P ten', ur T htt Iar,M {:art Reduced using AG software, 880231.8121 wevredivehrom This form Coppiglte2005-2010 ACI !linefeed ISO Gains Services. Inc_ Al Rights Medved. Page 3 of / faPARN General Purpose Appraisal Reppn OSfa010 GPM10d 1005282010 Summary Format Residential Appraisal Report File No. CVS02682 Appraiser's Certification The appraisers) certifies that, to the best of the appraiser's knowledge and belief: 1. The statements of fact contained in this report are true and correct. 2. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limning conditions and are the appraiser's personal, impartial, and unbiased professional analyses, opinions, and conclusions. 3. Unless otherwise stated, the appraiser has no present or prospective interest In the property that is the subject of this report and has no personal Interest with respect to the parties involved. 4. The appraiser has no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. 5. The appraisers engagement in this assignment was not contingent upon developing or reporting predetermined results. 6. The appraisers compensation for completing this assignment is not contingent upon the development or reporting of 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 the intended use of this appraisal. 7. The appraisers analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. 8. Unless otherwise noted, the appraiser has made a personal inspection of the property that is the subject of this report 9. Unless noted below, no one provided significant real property appraisal assistance to the appraiser signing this certification. Significant real property appraisal assistance provided by: Additional Certifications: Definition of Value: ❑MarketValue ❑Other Value: Source of Definition: ADDRESS OF THE PROPERTY APPRAISED: 2150 Tamarack Dr Medina, MN 55356 EFFECTIVE DATE OF THE APPRAISAL: 5/1/2013 APPRAISED VALUE OF THE SUBJECT PROPERTY $ 360,000 APPRAISER Signature: Name: Margaret lrlin State Certification# 4003668 SUPERVISORY APPRAISER Signature: Name: State Certification # or License # or License # Stale #: State: Expiration Date of Certification or License: Date of Signature: Date of Property Viewing: Date of Property Viewing: 11/8/2012 and 5/1/2013 Degree of property viewing: Degree of property viewing: D Interior and Exterior ❑ Exterior Only ❑ Did not personally view or Other (describe): State: MN Expiration Date of Certification or License: 08/31/2014 Date of Signature and Report: 05/30/2013 ❑ Interior and Exterior ❑ Exterior Only ❑ Did not personally view g. merarpvrpP,koler 5aiNoesr- ar Produced using AO sollware.13002343727AmYa[ral/ow Page 4 of 4 CVS, Inc. The rim Capyrigt4 n 2005-2010 AC Division of ISO Claim Sentes. ir_ Al Rg%ResmreA OPA12.1 General Purpose Appaisalrppif 0RD GPAR1001_7006262010 ADDENDUM Client Paul and Chanty Gannon File No.: CVS02682 Property Address: 2150 Tamarack Dr Case No.: City: Medina State: MN Zip: 55356 Neighborhood Boundaries Subject is located in an area primarily composed of 1-F homes of variant vintages and styles which in general show adequate exterior maintenance. Neighborhood commercial is noted along the area thoroughfares, e.g., ... however the area street layout and traffic patterns mitigate against any significant adverse impact except as to direct traffic / view influences. Neighborhood Description Medina is a growing community among the northwest suburbs of Minneapolis. Students in Medina attend either Wayzata or Orono Schools and the subject is located in the Orono School District. Most of the sites are small acreage properties with 2 Ac being the smallest. There are hobby farms and working farms in this community as well as subdivisions of housing developed primarily since 1990. Easy access is available to employment centers via Hwys. 55, and 494. Extensive shopping and other support services are available in nearby Plymouth, about 4 miles from the subject. Golf courses within close proximity include: Baker Nat'l, Elm Creek, and Rolling Green (commercial component). Lakes within close proximity include: Holy Name, Independence, and Medina. Neighborhood Market Conditions An MLS statistical study was conducted to determine market trends in Medina over the past year compared to the previous year. All single family detached homes which sold between $300,000 and $800,000 and which are located on 2-14 Ac were included in this study. There were 31 sales in the past year (7 of which were lender mediated) compared to 22 the previous year (8 of which were lender mediated) and there are 13 active listings (no lender mediated) and 9 pending sales (3 lender mediated). This indicates about a 5 month supply of inventory, considered a balanced market. Both the average sale price and the average price/SF has declined in this market segment over the past year compared to the previous year by about 3%, not a large decline and this could be considered statistically stable. The average marketing time over the past year was 233 days with active listings showing 144 days. The average sale/final list price over the past year has been 94%. Additional Features This home is an architecuraily designed and custom built modified two story style home accessed via a covered front porch with a two story living room featuring a fireplace and vaulted ceiling. The foyer opens to a dining room and maple flooring which flows through the formal dining room and into the kitchen. A shallow family room is open to the kitchen area which is U shaped in style and features original maple cabinetry, laminate counters, and white appliances. The family room opens to a two tiered deck. The upper level is accessed via a windowed stairwell and features an owners' suite, 2 junior bedrooms, a loft overlooking the living room, and a ceramic hallway bath. Adjoining one of the bedrobms is a bonus room which lacks flooring finish and a heat source and is not included in the GLA. The owners' suite includes a walk-in closet and luxury ceramic bath with a jetted tub (jets reportedly do not operate at this time). The lower level is primarily finished in unheated slate flooring and walks out to the side of the home. it has a family room and recreation room, 1 bedroos (also with slate flooring) an exercise area with wet bar and 3/4 slate bath with ceramic shower. The garage has finished walls and a drop down ladder to access storage above. Condition of Improvements This home has primarily original components with a good condition roof. A stucco moisture test conducted on March 6, 2013 shows moisture intrusion in several areas to the extent that the substrate or sheathing, located under the stucco has deteriorated and cannot be detected. The owner did replace a kitchen window and the stucco under that window (replacement stucco is detectable as not fully matching the original stucco surrounding it). In its current state, with moisture issues below the stucco surface (not totally identifiable as to extent until such time as the stucco would be removed to reveal the extent of damage), this home has limited marketability, probably only appealing to an investor who would remove and replace the exterior and deal with issues of window deterioration and cosmetic datedness which will be identified in further paragraphs. A building contractor who remediates stucco issues regularly was consulted to determine the extent of the replacement and moisture abatement costs involved to make this home marketable. An extensive survey of real estate agents, real estate appraisers, and contractors indicate that this home would not be considered a mainstream marketable home unless the entire exterior was removed, moisture deterioration under the current stucco repaired/replaced and any mold abated. A new exterior of stucco or Hardie Board would be considered to meet market expectations. In addition, the contractor and this appraiser identified 18 windows (including two sliding doors - one in family room up and one in recreation walkout area in the lower level) which show moisture damage to the extent that replacement is the solution. The contractor reviewed the Certified Moisture Test report completed on March 6, 2013. Referencing his own measurements and observations as well as the CMT report, he developed an estimate to remediate the failed substrate and stucco, including window replacement. It is understood that once the stucco is removed, the full extent of damage can be determined and additional costs may result. The contractor has developed a budget for replacement of rotted substrate which could be exceeded but which was developed with close attention to the CMT report. The contractor estimate has been attached as an addendum to this appraisal. The CMT report has been delivered to all parties as it is too long to attach to the appraisal but is referenced herein. Allstar Construction of Maple Plain estimates that the cost to remove the existing stucco, repair and replace substrate, replace windows, trim, paint, install fleshings and lattice work, replace insulation, and perform some roof repair work would be $169,285. Using stucco rather than Hardie Board would result in approximately the same total cost. Other conditions involved in the marketability of this home include a dated kitchen which is small (not readily remedied) and has laminate counters with older appliances. At minimum, the counters and appliances need to be updated.. Maple flooring needs to be refinished to maximize marketability baths need updating of fixtures and counters at minimum, and the bonus room should be finished so as to be considered livable space (heat source and flooring). All of these issues will be considered in the condition rating of this home with the exterior, moisture, and window issues considered in the effective age of the home. . Comments on Sales Comparison The subject is a rare 3 bedroom above grade home (additional bedroom in lower level) located on a small acreage site which Addendum Page 1 of 3 ADDENDUM Client Paul and Charity Gannon File No.: CVS02682 Property Address: 2150 Tamarack Dr Case No.: City: Medina • State: MN Zip: 56358 is just outside the Plymouth area and near the support services located at Hwy 55 and Vicksburg area (about 3 miles west). It is a smaller home than typical for its quality and small acreage location. While the floorplan is open and there are some volume spaces (two story living room), the kitchen is small, adjacent family room is small. The kitchen and baths are original and do not meet current market expectations for finishing materials (granite counters, updated appliances, fixtures). In addition, this home has stucco moisture issues which need remediation to make this home marketable to the mainstream buyers - "as is", it would appeal primarily to a select number of investors who would expect to make a profit on the renovation project. This home is located In the Orono School District, a market driving characteristic. All comparables have been chosen from that School District to avoid the need for location adjustments and comparables have been chosen based upon their location, vintage, condition, quality and size/function. Bedroom counts have been adjusted for variance overall where the difference in GLA does not reflect the variance. Comparable 1 is a home which is older than the subject and was marketed as needing TLC. This home is secluded from both Tamarack and Co Rd 24 and cannot be seen from the street The photo is of the rear of the home, showing its angles and architectural complexity which is similar to that of the subject. This home views a pond to the rear and is very private, reflected in the site size. From the exterior photos, it appears that this home has volume ceilings, vaulted ceilings, and it has original wood siding and probably original windows. Although the appraiser attempted to have a conversation with the listing/selling agent, multiple phone calls to her were not returned. It is therefore assumed that primary components such as kitchen and baths were not updated and that the vintage of the home reflects most of the cosmetic condition which would be inferior to that of the subject. Comparable 2 is a similar vintage home to which much updating has been applied. This is an all wood sided home which lacks the subject's volume spaces and architectural complexity but has a larger, center island kitchen. It has a new kitchen in 2010, new HVAC system in 2009, bathroom updating in 2010, new interior and exterior paint. It is considered to be 10% superior in condition to the subject. Comparable 3 is an older home and similar overall in quality (lacks the subject's volume spaces but it has a large, center island kitchen and all brick front with wood sides). This home has oak flooring and cabinetry, similar in tone to the subject's. Cosmetics are similar to that of the subject with black granite newly installed on the kitchen island and owners' bath cabinetry. This home is located a similar distance to County 6 that the subject is to County 24 with similar view and noise influence. Comparable 4 is a pending sale of a home located on a similar size site and which lacks the subject's volume spaces but has a large, center island kitchen and superior updating in the kitchen and superior finish in the lower level, including a new bath. This home has similar proximity to County 6 that the subject has to County 24. It is considered to be 5% superior in condition. Comparable 5 is an active lisitng of a home which is older but similar in site size with about 1/3 of the site located in the wetland. This home has an all wood exterior, similar volume ceiling (but with wood plank and beam finishing) and similar kitchen size/style, similar stone flooring in the lower level and dark paneled walls. The kitchen has been updated with granite and stainless but otherwise, this home has a newer wood shake roof and newer mechanicals. Due to the extent of the repairs necessary to make this home marketable (moisture remediation, new siding, windows, update kitchen, baths, new interior paint, refinish wood flooring) this home is considered a project that would most likely be taken on by an investor as there are a variety of other homes in this market segment available and which would appeal to the general buyer. An investor would look at the costs involved to place this home in a position to sell and consider carrying costs, financing costs, cost to re -sell the home, and the overall marketability of a home such as this one on small acre parcel (when complete). In addition, investors typically expect at least a 20% profit on the project. In adjusting the comparables for differences in siding and window condition, the appraiser took into consideration that the siding and window industry quotes a 24-27 year life of those components before replacement is necessary (average). The amount of the contactor cost attributable just to these elements is about $90,000. The remaining $80,000 is attributable to the moisture issues and this figure has been used on the age line of the grid to reflect each comparable's superior condition in regard to the moisture. Each home falls reasonably close to that average age where siding and windows are replaced so no adjustments have been made for this portion of the contractor estimate. The investor costs include 580,000 investor profit, $20,000 finance costs, $6000 carrying costs (taxes, insurance, utilities), $40,000 real estate fees to re -sell the home). THE "AS IS" ESTIMATE OF VALUE CONTAINED IN THIS REPORT REFLECTS THE MOST PROBABLE PRICE WHICH WOULD BE PAID BY THE MOST PROBABLE BUYER (AN INVESTOR) IN THIS MARKET FOR THIS HOME IN THIS CONDITION. Site size has been adjusted at $25,000/Ac up to 5Ac and $8000/Ac over 5Ac. These adjustments have been developed in consideration of sales in the subject market of vacant land and the principle of diminishing return as parcels increase in size. GLA was adjusted at $45/SF, basement area at $10/SF and basement finish at $25/Sf. These numbers reflect the contribution to value, not the cost. Extra Comments The Scope of this appraisal is as follows: The appraisal problem was defined and analyzed. The real estate was identified by legal description, by PID # and by street address within the body of the appraisal. The appropriate inspection type established as set forth herein. The appraisal's use, intended purpose and function, as well as the appraisal's defined users were set forth herein as well as the appraisal's effective date. The property rights to be appraised as well as the type of value sought and the definition of the value relative thereto are set forth herein. An appropriate appraisal reporting format was determined and utilized in the analysis. The Intended Users of this appraisal report are Paul and Charity Gannon, the law firms of Cheney Hatcher Law and Mediation Center, Macaulay Law Office, Ltd, as well as the relevent court personnel (judges, masters, arbitrators, mediators, etc). The intended use is to evaluate the property that is the subject of this appraisal for a marriage dissolution, subject to the stated Scope of Work, purpose of the appraisal, reporting requirements of this appraisal report form, and definition of market value. No Addendum Page 2 of 3 ADDENDUM Client: Paul and Charily Gannon File No.: CVS02682 Property Address: 2150 Tamarack Dr Case No.: City: Medina State: MN Zip: 55356 additional intended users are identified by the appraiser. An appropriate market analysis was performed to determine market trends, market influences, and other significant factors pertinent to the subject property's valuation. A highest and best use analysis appropriate to the assignment type was done for the subject property. The subject property's current zoning parameters together with its site size and locational influences were examined along with current uses of other properties in the area in determining the subject property's highest and best use which is set forth elsewhere herein. A physical inspection was made of the subject property to determine the size and characteristics of the property. This inspection is for valuation purposes and is not intended to discover hidden or insignificant defective components. The roof was inspected from the ground only with only those areas visible from the ground being observed. Mechanical inspections are limited to an exterior visual inspection only. The appraiser is not an engineer, a heating contractor, an electrician, a plumber, an environmental expert, nor a similar housing construction expert. No detailed mechanical or structural analysis is deemed to be implied. A more detailed review of the collected data was then performed with all known relevant factors extracted and considered. Sales were examined and confirmed as closed transactions from one or more data sources having sufficient indicia of reliability for this use. Data research included examination of office files, available on-line county records, the applicable area multiple listing services, interviews with local market participants (agents), Core Logic. and other data sources as deemed appropriate. Market factors were weighted and their influences on the subject property were determined and appropriately utilized in the subject's final value analysis. All appropriate valuation methods were considered, analyzed, and reconciled to form a basis for the • derived opinion of value. The reasons for excluding a valuation approach, if any are excluded, are set forth in the body of the report. The market sales approach to value was utilized in the analysis with the cost and income approaches considered but not developed as they were deemed inapplicable to a differentially updated component home of the subject's vintage located in this primarily owner occupied area. Margaret Berlin is a Certified Residential Real Property Appraiser. A Certified Residential Real Property Appraiser may appraise residential property or agricultural property without regard to transaction value or complexity. COMPREHENSIVE VALUATION SERVICES, INC'S PRIVACY POLICY All client personal information is maintained so as to insure its integrity, security and confidentiality in compliance with the Gramm-Leach-Bililey Act and the provisions of the Uniform Standards of Professional Appraisal Practice. We restrict access to non-public personal information to authorized individuals with a "need -to -know" status in providing the contracted service to the client. We maintain physical and procedural safeguards that comply with Federal standards to protect all non-public personal data obtained in the course of the service contracted for and do not disclose any such information to anyone except as permitted by law. Such non-public information may be disclosed to the client and any identified intended users of the specific appraisal, appraisal review or appraisal consulting assignment. Clients/customers have the right to limit the use (or the re -use) of the non-public personal information gathered during the course of the appraisal process. The customer must notify this firm within a reasonable time that public disclosure, the use and/or the re -use of such information is prohibited except as otherwise required by applicable law, regulation, or USPAP standard. Addendum Page 3 of 3 FLOORPLAN SKETCH Client: Paul and Charity Gannon Property Address:2150 Tamarack Dr City: Medina File No.: CVS02682 Case No.: State: MN Zip: 55356 Upper Level Main Level eChbaVede. Bedroom Bedroom 12.3' 0 Owners' Bedroom b. °J 12.0' 0 m Owners' VW Bath Closet Bath 30. ' 0 ai 6.0' Bonus Roon v N 12.0' 16.0' 8.0' a v Deck 20.3' 12.0' o Kitchen Laundry Garage Family Room Ul c!115' 0 v) ' o Loft 0 12.0' 'O Balcony m Patio on Grade 0 oe 12.0' 0 15.0' o v 1.5' Dining Room Foyer I 1 27.0' 20.5' 7.8' woos 6uinnn 0 ko 1.5' rn v Comments: AREA CALCULATIONS SUMMARY Code Description Net Size Net Totals GLA1 First Floor 1398.0 GLA2 Second Floor 1339.5 GAR Garage 702.5 Net LIVABLE Area (Rounded) 1398.0 1339.5 702.5 2738 LIVING AREA BREAKDOVVN Breakdown Subtotals First Floor 21.0 x 28.3 3.0 x 9.0 3.0 x 7.8 10.0 x 20.3 1.5 x 10.0 19.0 x 27.0 2.0 x 12.0 Second Floor 2.0 x 12.3 28.3 x 28.5 2.0 x 24.0 8.0 x 20.3 2.0 x 8.0 12.0 x 23.5 13Items (Rounded) 593.3 27.0 23.3 202.5 15.0 513.0 24.0 24.6 806.5 48.0 162.4 16.0 282.0 2738 DIMENSION LIST ADDENDUM Client: Paul and Charity Gannon File No.: CVS02682 Property Address:2150 Tamarack Dr City: Medina Case No.: State: MN Zip: 55356 GROSS BUILDING AREA (GBA) GROSS LIVING AREA (GLA) 2,738 2,738 Area(s) Area %ofGIA %of GBA Living 2,738 100.00 Levels 1,398 51.06 51.06 Level 1,340 48.94 48.94 Level 0 0.00 0.00 Other 0 0.00 0.00 GBA Basement ❑ 0 Garage ❑ 703 D Area Measurements Area Type Measurements Factor Total Levels Level Level Other Bsmt. Garage 28.25 x 21.00 x 1.00 = 593.25 ❑X ❑ ❑X ❑ ❑X ❑ ❑X ❑ ❑X ❑ ❑X ❑ ❑X ❑ ❑ ❑ ❑ ❑ D D ❑ ❑X ❑ ❑X ❑ Q ❑ Q ❑ ❑X D o ❑ ❑ O ❑ ❑ O ❑ ❑ ❑ ❑ ❑ ❑ D D ❑ D ❑ ❑ O D D D ■ D ❑ ❑ ❑ ❑ ❑ ❑ D D ❑ ❑ ❑ ❑ O D O D ❑ ❑ •❑ ❑ O ❑ ❑ ❑ ❑ D O D o ❑ ❑ D ❑ D D ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ D ❑ ❑ ❑ ❑ ❑ D ❑ D O ❑ ❑ ❑ D D O O D D ❑ ❑ D D O ❑ ❑ O ❑ ❑ ❑ D ❑ O D ❑ ❑ D ❑ ❑ ❑ ❑ ❑ D ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ D ❑ ❑ ❑ ❑ ❑ D ❑ ❑ O o ❑ ❑ O D D D ❑ D ❑ ❑ ❑ O ❑ ❑ ❑ O ❑ ❑ D ❑ ❑ O D❑ ❑ ❑ O ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑X ❑ ❑X D DD . ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ' ❑ ❑ D D ❑ ❑ D D D D O o ❑ ❑ D ❑ O O D D ❑ ❑ O O D O D D ❑ ❑ ❑ ❑ ❑ ❑ O O ❑ ❑ ❑ ❑ O D D ❑ ❑ ❑ D ❑ D D ❑ • ❑ ❑ O O o ❑ ❑ ❑ ❑ D O ❑ O ❑ ❑ D ❑ ❑ ❑ ❑ ❑ ❑ ❑ 9.00 x 3.00 x 1.00 = 27.00 7.75 x 3.00 x 100 = 23.25 20.25 x 10.00 x 1_00 = 202.50 10.00 x 1.50 x 1.00 = 15.00 27.00 x 19.00 x 100 = 513.00 _ _ 12.00 x 2.0Q x 1.00 = 24.00 21.50 x 12.00 x 100 = 258.00 23.00 x 11.50 x 1_00 = 264.50 20.00 x 9.00 x 1,00 = 180.00 12.30 x 2.00 x 1.00 = 24.60 28.50 x 28.30 x 100 = 806.55 24.00 x 2.00 x 1.00 = 48.00 20.30 x 8.00 x 1.00 = 162.40 8.00 x 2.00 x 1_00 = 16.00 23.50 x 12.00 x 1_00 = 282.00 x x = x x= x x_ x x = x x = x x _ x x_= x x = x x _ x x_= x x_= x x_= x x _ x x _ x x = x x= x x = x x = x x x x_= x x____. x x = x x_ x x____. x x = - x x = x x= x x _ x x = x x_= x x = x x = x x = x x = _ x x___. x x____. ProdurN using AO saltim, 900.214E127 DIM 02092607 SUBJECT PROPERTY PHOTO ADDENDUM Client: Paul and Charity Gannon File Na.: CVS02682 Property Address: 2150 Tamarack Dr Case No.: City: Medina State: MN Zip: 55356 FRONT VIEW OF SUBJECT PROPERTY Appraised Date: May 1, 2013 REAR VIEW OF SUBJECT PROPERTY STREET SCENE Client: Paul and Charity Gannon Property Address:2150 Tamarack Dr File No.: CVS02682 Case No.: City: Medina State: MN Zip: 55356 View to Rear Front Patio Patio Circular Drive Two Level Living Room with Center Fireplace Dining Room Rodzed using ACI sawxC 800.23/.8727 ~.Kiweb.eom PH76 Client: Paul and Charity Gannon Property Address: 2150 Tamarack Dr File No.: CVS02682 Case No.: City: Medina State: MN Zip: 55356 Family Room Kitchen Main Level Bath Upper Level Bonus Room Upper Level Hallway Bath Owners' Bath Aoduted using AD software. 8C01I4E777 vmx. ecnveb.com PHi6 Client: Paul and Charity Gannon Property Address:2150 Tamarack Dr File No.: CVS02682 Case No.: City: Medina State: MN Zip: 55356 Owners' Bedroom Lower Level Bath Lower Level Family Room Lower Level Recreation Lower Level Bedroom Lower Level Recreation Produced using ACT software. W12343727 wiwimweb.com PNT6 Client; Paul and Charity Gannon Property Address: 2150 Tamarack Dr File No.: CVS02682 Case No.: City: Medina State: MN Zip: 55356 Living Room Windows Living room Windows Pioc ced u4sg FCI solnme. 8(W.234 8727 wrw.zciweb.mm PHT6 COMPARABLE PROPERTY PHOTO ADDENDUM Client: Paul and Charity Gannon File No.: CVS02682 Property Address:2150 Tamarack Dr Case No.: City: Medina State: MN Zip: 55356 COMPARABLE SALE #1 2175 Tamarack Drive Medina, MN 55356 Sale Date: 08/31/2012 Sale Price: $ 593,000 COMPARABLE SALE #2 2675 Silver View Drive Orono, MN 55356 Sale Date: 11/30/2012 Sale Price: $ 572,000 COMPARABLE SALE #3 1180 Phillips Drive Orono, MN 55356 Sale Date: 09/26/2012 Sale Price: $ 550,000 COMPARABLE PROPERTY PHOTO ADDENDUM Client: Paul and Charity Gannon File No.: CVS02682 Property Address:2150 Tamarack Dr Case No.: City: Medina State: MN Zip: 55356 COMPARABLE SALE #4 4785 Creekwood Trail Orono, MN 55359 Sale Date: 6/14/2013 Sale Price: $ 675,000 COMPARABLE SALE #5 2732 Deerhill Road Medina, MN 55356 Sale Date: NA Sale Price: $ 655,000 COMPARABLE SALE#6 Sale Date: Sale Price: $ PLAT MAP Client: Paul and Charity Gannon Property Address:2150 Tamarack Dr City: Medina State: MN File No.: CVS02682 Case No.: Zip: 55356 LOCATION MAP Client: Paul and Charity Gannon Property Address:2150 Tamarack Dr City: Medina File No.: CVS02682 Case No.: State: MN Zip: 55356 • I Camp Ihewapl tap Fdgadrxa Mapla Plain' apeaae.Ca.ta faker National Gall Course orIoenLmu. hoolffuUlu 02toe .1 ,Lla1RlW Comp 2175 Tamarack Drive (Located to Block) Camp 5 2732 Merlin Road (located to Block) N tit, I I I t "�y'. - nil (Located to Sheet) ly -i Comp 3 11BD Phillip Drive it (located to Block) l Comp 2 "" 1 T 2675 Silver View Drive 1 ` . eted to Block) _ Loop� pr `•, Lake •ammo Golf Course ;vMoNLap < Client: Paul and Charity Gannon File No.: CVS02682 Property Address:2150 Tamarack Dr City: Medina State: MN Case No.: Zip: 55356 Margaret M Berlin 4820 Minnetonka Blvd Suite 303 St Louis Park, MN 55416 Education: Work Phone(952-253-2777) 1968-1972 University of Minnesota Minneapolis, MN BS Related Art -Interior Design 1992-201.2 Prosource Bloomington, MN All 14 Family appraisal related coursework including Appraisal Principles, Appraisal Practice, Ethics and Standards, Residential Construction, Investment Properties, How to perform FHA Appraisals, Analyze Detrimental Property Conditions, Solve Tough Appraisal Problems, USPAP, 20 Cost Effective Home Improvements, Interior Styles, Designs, Finishes, The Cost Approach, Advanced URAR/Fannie Mae Guides Update, New FHA Appraisal Forms and Guides, USPAP 2008-09, Data Analysis in a Declining Market, How to Measure a Home; 2010 USPAP, 2012 USPAP 2010 McKissock Relocation Appraisals, Expert Witness Testimony 1995 Housing Inspections in Real Estate/Gene Mails Minneapolis, MN 1996-2002 NIPREP Bloomington, MN Marshall & Swift Residential Cost Approach, Basic and Advanced Appraisal Review Theory, Practice Dealing with the Low Appraisal Standards and Ethics 2002, 2004 MN Chapter of the Appraisal Institute Minneapolis, MN 2007,2010 Dynamics of Lake Shore Property and High End Value Homes 2011 Real Estate Trends Seminar, Minnesota Mortgage Fraud Seminar, Market Trends Seminar, 13h Annual Real Estate Trends Seminar 2002 NAIFA Bloomington, MN Intro to Automated Valuation Model, HUD Review Update 2012 Bradford Technologies — The Columbia Institute Interactive Valuation Modeling & Case Studies No 226 Work Experience 1995-Pres Comprehensive Valuation Services St Louis Park, MN VP Operations, Staff Appraiser 1991-1995 Metropolitan Federal Hank Edina, MN Operations, Quality Control, Appraisal Mgt Client: Paul and Charity Gannon Property Address:2150 Tamarack Dr City: Medina File No.: CVS02682 Case No.: State: MN Zip: 55356 MARGARET MARY BERLIN 6050 WOLFBERRY LANE GOLDEN VALLEY, MN 55422 STATE OF MINNESOTA Department of Commerce The Undersigned COMMISSIONER OF COMMERCE for the State of Minnesota hereby certifies that MARGARET MARY BERLIN 6050 WOLFBERRY LANE GOLDEN VALLEY, MN 55422 has complied with the laws of the State of Minnesota and is hereby licensed to transact the business of Resident Appraiser: Certified Residential License Number: 4003668 unless this authority Is suspended, revoked, or otherwise legally terminated. This license shall be in effect until August 31, 2014. IN TESTIMONY WHEREOF, I have hereunto set my hand this August 03, 2012. COMMISSIONER OF COMMERCE Minnesota Department of Commerce Licensing Division 65 7th Place East, Suite 500 St. Paul, MN 55101-3165 Telephone: (651) 296-6319 Email: licensing.commerce@staie.mn.us Website: commerce.slate.mn,us Continuing Education: CE Requirement Type r:E Required Hours Total -Appraiser 30.00 USPAP 7.00 Notes: • Continuing Educations 15 hours Is required In the first renewal period, which includes a 7 hour USPAP course: 30 hours Is required for each subsequent renewal period, which Includes a 7 hour USPAP course. Appraisers: You must hold a licensed Residential, Certified Residential, or Certified General qualification In order to perform appraisals for federally -related transactions. Trainees do not qualify, For further details, please vislt our wabsite at commerce.state.mn.us. Client: Paul and Charity Gannon File No.: CVS02682 Property Address:2150 Tamarack Dr City: Medina State: MN Case No.. Zip: 55356 5146 Industrial St. Ste 2103 Maple Plain MN 55352 License No. BC031574 Phone: 7634794700 Fax: 763 4794666 Bonded •Insured Minnesota's Molted Tradition for Ow= 80 Years Contract Proposal Submrad To: Rohan Lund Inc, PhanR (612) 751-2006 Data: May 21, 2013 Street 360 North Arm Lane Jon Nary. Gannon Residence Cdr Slate Zip: Orono, MN 55364 Strut 2150 Tamarack Drive ErdnatodPhen: Grady Stephens (612) 8054534 city lads Zip: Medina, MN Date of tom: • We hereby propose to furnish the materials and perform the labor necessary for the completion of: Stucco Demolition 1. Tarp, plywood, and scaffold exterior landscaping, decks, and windows of all elevations. 2. Place dumpster in driveway. 3. Remove stucco et entire exterior of all elevations and dispose. 4. Evaluate extent of rot. Replace all rotted sheathing at a rate of $88.00 per man hour plus materials above and beyond. Budget number to be included in pricing section. 5. Evaluate deck rim connection and condition. Remove, shore, 8e replace as needed at a rate of $88.00 per man hour plus materials above and beyond. Budget number to be Included in pricing section. 8. Remove existing and replace Insulation as needed at a rate of KU per square foot. 7. Spray mold inhibiting paint over minor areas of surface mold to kill growth. 8. Install all needed roof kick out fleshings. 9. Install class D 915 lb double layer drainage plane. Document and photograph all exterior elevations. Additional pricing continued on next page... Client: Paul and Charity Gannon Properly Address:2150 Tamarack Dr City: Medina State: MN File No.: CVS02682 Case No.: Zip: 55356 Windows 1. Remove 18 existing windows in need of replacement. 2. Repair rotted framing at a rate of $88.00 per man hour plus materials above and beyond. 3. Remove 13 existing windows In need of pan flashing. Install tapered pan, flash, and reset existing windows. 4. Install 18 new Marvin Windows over new tapered pans and flash. 9. Tle all windows Into drainage plane. 8. Flash and tape windows, 7. install new interior window trim. Siding and Trim 1. Install James Hardie window trim, door trim, frieze board, exterior comers, inside corners, and all accessory trim. 2. Flash trim as needed with custom fabricated fleshings. 3. Install James Hardie lap siding and James Hardie shingle siding. Shingle aiding at front elevation gables and dormers only. 4. Install new lattice at front entry and deck to replace existing. Painting ''See paint quote"" Pricing 1. Stucco Demolition - $22,600.00 2. Siding - $28,450.00 3. Trim & Frieze Board - $14,400.00 4. Windows - $44,280.00 6. Painting (Base Bid) - $5,975.00 6. Painting Windows & Trim Interior - $9,300.00 7. Rot Replacement (Labor) Budget - $22,000.00 8. Rot Replacement (Material) Budget - $5,500.00 9. Miscellaneous Exterior Fleshings & Lattice Work-$6,800.00 10. Insulation Replacement Budget - $2,500.00 11. Roof Work - $1,500.00 12. Management Fee (On -site supervision) - $8,000.00 Total - $169,285.00 pG 2 Client: Paul and Charity Gannon Property Address: 2150 Tamarack Dr City: Medina State: MN File No.: CVS02682 Case No.: Zip: 55356 NOTES: Contract may be subject to price increase if accepted after date given. Contractor to provide mechanic's lien waiver upon receipt of Mil payment of above work Contractor not 1},onsible for sheetrock and plaster cracks duo to reroofing or other construction work. Contractor not responsible for dust and debris in attic during roofing or other construction work. Contractor not responsible for driveways. Contractor not responsible for leakage or condensation due to heat loss and/or ice dams. Scheduling is affected by weather. A service fee of $350.00 will ha charged for all service calls (except those covered under warranty). Any additional work ordered by the customer not covered by the warranty shall be billed at Mister's rate for labor and materials. We propose to furnish labor and materials — complete in accordance with the above specifications with payment to be made as follows; Draws to be submitted hosed upon percentage of Job completion. All material is guaranteed to be as specified. All work shall be completed in a workmsnlive manner according to standard practices. Limited to the percent allowable by law, a 1'A%monthly service charge will be added to any outstanding balance not paid within thirty (30) days of when due. This proposal must be accepted within thirty (30) days or it is automatically withdrawn. ACCEPTANCE OF CONTRACT By my signanne below, the proposal prices, specifications and conditions are hereby accepted. You are authorized to perform the work specified. Payments will be made as outlined above. ACCEPTED Date Allstar Construction Contractor's Representative: Signal= Contract terms on additional pages also form a part of this contract and are hereby accepted, In the event this contract was procured through a home solicitation sale as defined try Minnesota Statutes Section 325G.06, you may rescind your agreement as set forth in the accompanying Notice of Cancellation. You, the buyer, may cancel this purchase at any lime prior to midnight of the third business day after the date of this purchase, Sec attached Notice of Cancellation form for an enplanation of this right. In all other circumstances, this contract Is binding when signed by you and us. ea.3 Client: Paul and Charity Gannon Property AddreSS: 2150 Tamarack Dr City: Medina State: MN File No.: CV502682 Case No.: Zip: 55356 ADDITIONAL TERMS —Page 2 1. Contract Documents and Changes, The Contract documents consist of this agreement and the applicable drawings, plans and specifications. This Contract is subject to approval of Allstar Construction, management who may decline this Contract prior to the start of work. Any alteration or deviation from the Contract will be performed only upon a written change order resulting in an extra charge beyond the Contract price. Alteration or deviation includes hidden damages that are uncovered during the coarse of the job, additional work, and replacement of existing deteriorated materials not apecified for replacement under this Contract, and additional work required by government inspectors on the existing structure to make it code compliant Change orders are subject to a S administrative processing fee. 2. Mechanic's Lien Rights. Minnesota law requires us to provide you with the following notice; (A) ANY PERSON OR COMPANY SUPPLYING LABOR OR MATERIALS FOR THIS IMPROVEMENT TO YOUR PROPERTY MAY FILE A LIEN AGAINST YOUR PROPERTY TF THAT PERSON OR COMPANY IS NOT PAID FOR THE CONTRIBUTIONS. (B) UNDER MINNESOTA LAW, YOU RAVE THE RIGHT TO PAY PERSONS WHO SUPPLIED LABOR OR NIATERIALS FOR THIS IMPROVEMENT DDIECTLY AND DEDUCT THIS AMOUNT FROM OUR CONTRACT PRICE, OR WITHHOLD THE AMOUNTS DUE THEM FROM US UNT L 120 DAYS AFTER COMPLETION OF THE IMPROVEMENT UNLESS WE GIVE YOU A LIEN WAIVER SIGNED BY PERSONS WHO SUPPLIED ANY LABOR OR MATERIAL FOR THE IMPROVEMENT AND WHO GAVE YOU TIMELY NOTICE. 3. Warranty Riahts. We waranty our workmanship for one (i) year from the date it was substandally performed. Materiela shall carry their manufacturer's warranty only and you agree to make such claims against the manufacturer. Your exclusive remedy under this wamanty is for repair or replacement by us of the warranted defect and no other remedy. Work performed or damage caused by any other person voids this warranty. This wenamy exeludca damage caused by unusual weather conditions, ice dams, snow loads, strong winds (50+ MPH), hail and damage caused by ice/snow removal from your roof. THERE ARE NO WARRANTIES, EXPRESS OR IMPLIED, AS TO MERCHANTABILITY OR FTiNESS FOR A PARTICULAR PURPOSE EXCEPT AS EXPLICITLY STATED IN THIS CONTRACT, THIS WARRANTY IS NON -TRANSFERABLE, IN ADDITION TO THIS WARRANTY, YOU HAVE BEEN PROVIDED A COPY OF THE WARRANTY PROVIDED PURSUANT TO MINNESOTA STATUTES CHAPTER 327A WHICH MAY ALSO APPLY, WE HEREBY DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, CONTRACT CLAIMS, NEGLIGENCE CLAIMS, AND ALL OTHER CLAIMS FOR WHICH YOU HAVE NOT PROVIDED US WITH WRITTEN NOTICE WITHIN ONE YEAR FROM THE DATE OF DISCOVERY OF THE PROBLEM AND WHICH HAVE NOT BEEN FULLY RESOLVED WITHIN SIX (6) MONTHS FROM THE DATE YOU NOTWIED US OF THE CLAIM, 4. Dumpsters, Equipment, Debris Removal and Access. Our performance may require the installation and removal of dumpstcrs, delivery trucks, worker's vehicles, construction equipment and vehicles onto your property. These events may cause damage to your property due to weight or movement, damage from which you hold us harmless. No digging will occur until Gopher State One Can ban identified underground utilities — this is your responsibility. We take reasonable effori to remove construction debris; however, some debris may remain. You hold us hamilesa from any damage or injury caused by this debris. Dmnpslers are for construction debris only and you may be charged additional fees should other items be found therein, You agree to make to ct facilities amiable or compensate us for the cost of rented units, Electric, water, or other utilities shall be furnished by you at your expense. You shall grant free access to work areas for workers and vehicles and shall allow storage of materials and rubbish. You agree to lceep driveways clear and available for movement and parking of vehicles during normal working hours, Including removal of ice and snow. We shall not be expected to keep gates and doors closed and you hold us harmless from claims arising therefrom. Excess construction material remains our property. 5. Collection Costs. You agree to pay for our reasonable costs of collection in collecting any delinquent amounts owing under this Contract. Snell costs shall include reasonable attorneys' fees, costs and disbursements incurred in pursuing collection. The final payment in full shall not be held up while waiting for the city to inspect the work. 6, Events Beyond Our Control and Exclusions, You hold us harmless from pre-existing construction conditions that may be manifested during the construction process. Performance under this contract is contingent upon strikes, accidents or other delays beyond our control. The price of this Contract does not include material or labor price increases because of unforeseen problems arising after work has begun, market supply shortages or unusual spikes io market demand. This Conhrct price does aot include any governmental permit, service or access charge. Some variation may occur in color, texture and planes of materials. Existing out of square and plumb conditions may require similar conditions in the new work We may substitute similar materials if specified materials are unavailable. You agree to remove and protect any personal property in or near the work area, including without limitation, shrubs, flowers, wall hangings and other valuables and hold us harmless from damage resulting from failing to so secure. We are not responsible for hazardous material (lead paint, asbestos, etc.) removal from your existing structure and may stop work until it is removed. You agree to hold us harmless from mold, fungus or biologics) material damages as set forth on the accompanying Mold Notice and Waiver. You acknowledge receipt from us of the UREA Formaldehyde Disclosure required by Minnesota Law. pg. 4 Client: Paul and Charity Gannon Property Address: 2150 Tamarack Dr City: Medina File No.: CVS02682 Case No.: State: MN Zip: 55356 7. Owner's Work. For any work or materials you have agreed to provide, you will ensure timely delivery and performance to not hinder or delay us from our work. preparation of materials for your work (such as spackling, sanding, etc.) is your responsibility. We provide no warranty for your work and materials. Any additional trips by us or our subcontractors because of your delays will result in a $ trip charge for each extra trip. 8. Advertising. You agree we may place our advertising yard sign on your property for promotion and identification purposes for workers and material supplies. We may photograph the project for advertising and promotional use. 9. Insurance. Prior to construction, you shall have in place insurance to cover the finished cost of improvements. 10. Cancellation. If prior to our performance of work you cancel this Contract without legal right to do so, we will be entitled as liquidated damages (and not as a penalty) to our actual costs inacrred (including any restocking charges) plus 25% of the Contract price. After our work has begun, you are responsible for the entire contract price. Owner Initials: vs b MIF Property Information Name: Paul Gannon Address: 2150 Tamarabtk ,o ; v-e. PID# 23-118-23-13-0005 Land Size: Ground Floor Area: 2500 SQFT Total Above Ground Area: 4010 SQFT Comment: Use: Single Family 2014 2015 Assessor Recommendation Council Action Land. $ 282,000 $ 311,000 S No Change Building $ 318,000 $ 317,000 $ No Change Total $ 600,000 $ 628,000 $ No Change Comments: Property reduced by local board for 2014, Land increased same as others in neighborhood. House has mold problem considered ADDRESS: 2150 - TAMARACK DR PID #: (80) 23-118-23-13-0005 Sale Date: 0/0 Sale Price: $0 Sale Date: Sale Price: 2015 EMV: Style and Story Height: Two Story Age: 1994 Bedrooms: 4 Ground Floor Area: 1,778 Sq.Ft. Above Grade Area: 2,804 Sq.Ft. Bsmt. Area: 80% Finished Bsmt. Area: 80% Fireplaces: 1 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 1 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 60 Deck: 351 Garage #1: 694 Type: Attached Garage #2: 0 Type: Lot Size: 343,938 Sq.Ft. 7.90 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: Application to Appeal To appear before the Medina complete the information below Equalization Meeting on April MN 55340. You may appear accept e-mail applications on April 8, 2015. *You may Hennepin to avoid completing Property Owner Name(s)*: Name of Authorized Agent Property Location (address)*: Property Identification Number(s)*: 1. Please mark an "X" below Yes '? No C. , Y ��: r Taxes Payable in 2016) application is preferable. Please the Board of Appeal and 2052 County Road 24, Medina, authorized agent. The City will (763) 473-9359 until 4:30 p.m. Classification County of below. MEDINA 2015 Valuation or Classification (for Local Board of Appeal and Equalization, an and return to the City prior to the start of 8, 2015 at 6:30 p.m. at Medina City Hall, in person, by letter, or be represented by an at scoff johnson(a�ci.medina.mn.us or via fax at also attach your 2015 Notice of Valuation and the information with an * (asterisk) noted 1�g10:X-s lam- wCA.C.Oli L-P V (if applicable): 2.1c0. Pi r\-6 l'a.. d d .t M e c KA, ) MN) gs---,} ) 7.4 1.1 t)...661..3 00 I P), if you have contacted the City Assessor at (763) 473-3978 as requested. % N.) ®0 0 2. Assessment Year 2014 3. Assessment Year 2015 4. Your proposed valuation Please provide below or attach classification is incorrect. supporting evidence. (as stated on your Notice of Valuation)*: 4: (as stated on your Notice of Valuation)*: t.-7 000 1 and/or classification for 2015: 4/ C31 1 l DO Z supporting evidence to convince the board that the current year valuation or See additional information on the backside adds page on how to provide j2W-eu.S.4-0 kiKerl k.) k�� va P A 46-7 -3-7 7 / t AA. t ,„., 3a P r PsD 2i aina-x3006 3g)2ay �, cA4Afe_. wisLa.atAQ 4/t/u/ . .- 4.z + t4,2_ kaz 1 ,,,,LAd 6) 01 ` 1 41 l . a�/1 .,._ 8' f - sott-"'701g 4 ' Signature Owner Dat Phone # (Daytime) MEDINA Application to Appeal 2015 Valuation or Classification (for Taxes Payable in 2016) To appear before the Medina Local Board of Appeal and Equalization, an application is preferable. Please complete the information below and return to the City prior to the start of the Board of Appeal and Equalization Meeting on April 8, 2015 at 6:30 p.m. at Medina City Hall, 2052 County Road 24, Medina, MN 55340. You may appear in person, by letter, or be represented by an authorized agent. The City will accept e-mail applications at scott.johnson@ci.medina.mnms or via fax at (763) 473-9359 until 4:30 p.m. on April 8, 2015. *You may also attach your 2015 Notice of Valuation and Classification — County of Hennepin to avoid completing the information with an**,(asterisk) noted below. /44 Property Owner Name(s)*: /d / 14v` /0/4 ije 5- /1- 77L Name of Authorized Agent (if applicable): Property Location (address)*: � K o J ,2633 //�a4e -l6 .--: 3 ^ / --- 0 CO l Property IdentificationNumber(s)*: 7fj 1. Please mark an "X" below if you have contacted the City Assessor at (763) 473-3978 as requested. Yes No X 2. Assessment Year 2014 (as stated on your Notice of Valuation)*: 1 14 COO 3. Assessment Year 2015 (as stated on your Notice of Valuation)*: l ,2 Z+ 9 iP p 0 -7 4. Your proposed valuation and/or classification for 2015: --/—© QI 000 Please provide below or attach supporting evidence to convince the board that the current year valuation or classification is incorrect. See additional information on the backside of this page on how to provide supporting evidence. Signature of owner D to Phone # (Daytime) Your assessor's Contact information: CITY OF MEDINA CITY ASSESSOR 2052 CO RD NO 24 HAMEL, MN 55340 763-473-3978 Property ID number 16-118-23 12 0004 Property Address 2633 HAMEL RD MEDINA Taxpayer(s) MARIANNE SHARMA 2633 HAMEL RD HAMEL MN 55340-9785 2015 Values for taxes payable in 2016 Property tax notices are delivered on the following schedule: Stap Valuatiofs,anddiassificatlonNotice. ti taSe RESIDENTIAL ' EstimatOO Market Vakie HombOead 1 xolusion' s Tai(ableMarketValue $ 1,249,o0o Step Proposed Taxes Notice 2 2016 Proposed Step Property Tax Statement 3 is! Half Taxes: 2nd Half Taxes: See 'derails in Shaded area below Coming November 2015 Coming March 2016 Total Taxes Due in 2016. NOW is the time to question or appeal your CLASSIFICATION or VALUATION! it will be too late when proposed taxes are sent. Tfie asses pagabie in 2015 a14 assessment) and Veine Taxes payable fn 2015 (24t5 assessment). =d yorarpropetiy s classilication(sj to b RE s'IDENT I AL ` - 'RESIDENTIAL HOMESTEADS our classification has changad from last ye t lie assessor has determined your property's value(e) to be: T°Estrmated Market Value (EMV). s Savors (actors Bark reduce the amouritof value that issubject to ta_x. teen nacres Value Deferral:, Rural,Preserve Value Deferral Open Space ValueDeferral: ` Platted -Vacant Land Exclusion: This Old' House, Exclusion: - Disabled.Veterans Exclusion: Mold Damage Exclusion: Homestead Market Value Exclusion:': Taxable Market Value (TMV); The R ESI�IfENTLAL RESIDENTIAL HOMESTEAD s assessment s $ 1,143,00,0 $ ';'I,249 following values Of any) are reflected in your estimated and taxable market values: New Improvement Value: The classiftcat on(s),of your property affect the rate at which your value is taxed. The following meetings are available to discuss or appeal your value and classification: ocad Board of Appeal and Equalization/Open How to respond If you believe your valuation and property class are correct, it is not necessary to contact your assessor or attend any listed meetings. Do you feel the property information is not correct? Do you disagree with the values? Do you have other questions about this notice? Please contact the Assessor's Office first to discuss any questions or concerns. Often your issues can be resolved at this level. If your questions or concerns are not resolved, more formal appeal options are available. Please read the back of this notice for important information about the formal appeal process. 6:30 PM APR 8, 2015 MEDINA CITY HALL 2052"CO RD NO 24, HAMEL 763 473-3978 County Board of Appeal and Equalization Monday, June 15, 2015 Fiennepin County Government Center 300 South 6th Street, Minneapolis MN 55487 Appointments are required and available through 7:00 p.m. To make an appointment, call 612-348-7050 by May 20, 2015 M/M 1 a/ine 5/71--frKrnict. ,gh33 /gadAe/ goad adrnli. - MA( � 6 3tio. ---- - ___M - 174- o 4 3 - 6 /2 • *2.3474--.2S" _ �' ao./ - . o k) --- 1 b ltil t, i^ magi _ia -- con s g R Yl 1 �,(/02 4 fewceel h o uska ' cia a v ett v-e.dt _sus .tt,..ect _ -- 40.1 fh e p a'40 rag 1-rAyV a tAct ./1.0 LA) lM l,F 6764 4 vw,, we ra Pep et rz�tO 1 �a� �G� +e�2,ed �" �L c. A jil o 1/ sx i r 1 e/f ea- Vbilsgpoo- a t4,1 *-kg-lePel _AIM_ oars � 1-1. Sk \tog et* 2 40 A — ©�.►ce . -_Co _Ad c� p_AtithirmA. ! Al Ae. td �„A___u 1/icts --j,0 s];4-114Gavt.el cem9 .-eksV a o-L-._ cc, I-4*-e . � a.A.o hart ct._ esi-�`- _ _ 6 &Ile pixi__ ueb co 14.t_p_o_dectLt pA49-p, cuitha wttu - hay, al, arg l a ed ex, ate (9 t/L� ve.. it.u4 1 1efe-i' 4i- /4w paLesvAci-- --Ivvt e - it..esv a n%) iLc coal !u w r& 1 w o u ri ke wt-ort alx1,.) v w o ik2coo Si dceeZ /Me act,t ouyrt...4 r ct-1"-t, rto tAJ pcli,t.".,b,-iee rue/ ptopgt-ere-Yes- 5/4:kax , fr---_ - -- 7 S A %P� zec-f 2. i-' ; �n -- oc-rea>C , � I Au v g45.1./4 /etc,fcs_ . 72c-d-C 7 ' r Presenting: 2725 Hamel Road, Medina, MI1,50 List Price: $1,495,000 Style: (SF) Two Stories Bedrooms: 4 Total Baths: 4 Garage Stalls: 3 Year Built: 1989 Acres: 21.64 Fireplaces: 2 Total Finished SgFt: 5,711 Above Ground: 5,198 Lot Size: See Supplement Heat: Forced Air Air Conditioning: Central Fuel: Natural Gas Exterior: Stucco Basement: Full, Finished (Livable) Parking: Attached Garage Waterfront: Pond Waterfront Name: School Lake (Medina City) Tax Year: 2013 Taxes: $22,433 w/assessments: $22,433 School District: 278 - Orono, 952-449-8305 Description: Spectacular south facing setting with scenic views of School Lake. French Country Chateau architecture, a barn with 4 box stalls and stunning perennial gardens - located in the heart of Medina. MLS#: 4145598 Listing courtesy of Coldwell Banker Burnet This Report Prepared By: Erik Myhran 952-473-3000 3/30/2015 Information Deemed Reliable But Not Guaranteed. © 2015 Regional MLS of Minn., Inc. All Rights Reserved. Parcel ID: I Owner Name: I Parcel Address: Property Type: Home- stead: 16-118-23-12-0003 W & J Popham 2725 Hamel Rd Medina, MN 55340 Residential Homestead A-T-B: Torrens Market Total: $1,617,000 Tax $22,665.42 Total: (Payable:2015) Sale Price: Sale Date: Parcel 20.37 acres Sale Area: 887,221 sq ft Code: Map Scale: 1"= 400 ft. i Print Date: 3/31/2015 This map is compilation of data from various sources and is furnished "AS IS" with no representation or warranty expressed or implied, including fitness of any particular purpose, merchantability, or the accuracy and completeness of the information shown. COPYRIGHT © HENNEPIN COUNTY 2015 Presenting: 1205 Oakview Road, Medina, MN 55356-9595 List Price: $749,900 Style: (SF) One Story MLS#: 4578209 Bedrooms: 4 Total Baths: 3 Garage Stalls: 3 Year Built: 1985 Acres: 13.20 Fireplaces: 2 Total Finished SgFt: 4,622 Above Ground: 2,720 Lot Size: Irregular Heat: Forced Air, Fireplace Air Conditioning: Central Fuel: Natural Gas Exterior: Wood Basement: Walkout, Full, Finished (Livable), Sump Pump, Poured Concrete Parking: Attached Garage Tax Year: 2014 Taxes: $8,456 w/assessments: $8,456 School District: 278 - Orono, 952-449-8305 Description: Soft contemporary on 14-acre wooded Medina estate. Huge deck w/ screened porch, lovely patio w/ firepit, kitch updates, Italian marble frplc, spacious south -facing liv rm w/ panoramic views. Barn and stables can be built. Orono OR Wayzata schools! A T.a RP.�31N Listing courtesy of Keller Williams Classic Rlty NW This Report Prepared By: Erik Myhran 952-473-3000 3/30/2015 Information Deemed Reliable But Not Guaranteed. © 2015 Regional MLS of Minn., Inc. All Rights Reserved. Page 1 of 2 Parcel ID: Owner Name: Parcel Address: Property Type: Home- stead: 14-118-23-31-0003 Libao Wang & Ling Shang 1205 Oakview Rd Medina, MN 55356 Residential Homestead Parcel 13.2 acres Area: 574,956 sq ft A-T-B: Torrens Market Total: Tax Total: Sale Price: Sale Date: Sale Code: $663,000 $8,423.60 (Payable: 2015) $484,600 09/1999 Warranty Deed Map Scale: 1 400 ft. Print Date: 3/31 /2015 This map is a compilation of data from I various wurces and isfumished "AS IS" with no representation or warranty expressed or implied, including fitness of any particular j purpose, merchantability, or the accuracy , and completeness of the information shown. i i COPYRIGHT © HENNEPIN COUNTY 2015 I Presenting: 50 Cristofori Circle, Orono, MN 55359-9439 List Price: $749,000 MLS#: 4517271 Style: (SF) Two Stories Bedrooms: 6 Total Baths: 6 Garage Stalls: 4 Year Built: 1992 Acres: 23.00 Fireplaces: 5 Total Finished SgFt: 8,427 Above Ground: 5,287 Lot Size: irregular Heat: Forced Air Air Conditioning: Central Fuel: Propane Exterior: Wood, Shakes Basement: Walkout, Full, Finished (Livable), Sump Pump Parking: Attached Garage, Insulated Garage, Heated Garage, Driveway - Asphalt, Garage Door Opener Tax Year: 2014 Taxes: $15,432 w/assessments: $15,432 School District: 278 - Orono, 952-449-8305 Description: Beautiful hardwood forest with expansive hilltop views. Sequestered on more than 23 acres in the heart of Orono, this spacious 8000+ sq.ft. six bedroom home enjoys wooded privacy and exceptional vistas.Full apartment in w/o. Adjacent to the Luce Line Tr. Listing courtesy of Caldwell Banker Burnet This Report Prepared By: Erik Myhran 952473-3000 3/30/2015 Information Deemed Reliable But Not Guaranteed. © 2015 Regional MLS of Minn., Inc. All Rights Reserved. Page 1 of 3 Parcel ID: Owner Name: I Parcel Address: Property Type: Home- stead: 31-118-23-44-0004 S S Bergerson & A Bergerson 50 Cristofori Cir Orono, MN 55359 Residential Non -Homestead Parcel 22.8 acres Area: 992,980 sq ft A-T-B: Abstract Market Total: $1,332,000 Tax $17,157.74 Total: (Payable:2015) Sale Price: Sale Date: Sale Code: $1,175,000 07/2000 Warranty Deed Map Scale: 1 " = 400 ft. Print Date: 3/31/2015 This map is a compilation of data from various sources and is furnished "AS IS" with no representation or warranty expressed or implied, including fitnessof any particular i purpose, merchantability, or the accuracy and completeness of the information shown. S COPYRIGHT © HENNEPIN COUNTY 2015 t_f Presenting: 860 Brown Road S, Orono, MN 55391-9117 List Price: $599,000 MLS#: 4172619 Style: (SF) One Story Bedrooms: 4 Total Baths: 2 Garage Stalls: 2 Year Built: 1955 Acres: 14.03 Fireplaces: 1 Total Finished SgFt: 1,824 Above Ground: 1,120 Lot Size: W 470x1303 Heat: Forced Air Air Conditioning: Central Fuel: Natural Gas Exterior: Wood Basement: Full, Finished (Livable), Egress Windows Parking: Detached Garage, Driveway - Asphalt, Garage Door Opener Waterfront: Creek/Stream Waterfront Name: Long Lake Creek Tax Year: 2012 Taxes: $7,237 w/assessments: $7,237 School District: 278 - Orono, 952-449-8305 Description: Extraordinary one of a kind 14 acre property located 25 minutes from downtown Minneapolis with access to Lake Minnetonka. Easterly views over marshland and Long Lake Creek to Tanager Lake with 4-5 acres of buildable land and frontage for a dock! Listing courtesy of Coldwell Banker Burnet This Report Prepared By: Erik Myhran 952-473-3000 3/30/2015 Information Deemed Reliable But Not Guaranteed. 0 2015 Regional MLS of Minn., Inc. All Rights Reserved. Page 2 of 3 Parcel ID: Owner Name: Parcel Address: Property Type: Home- stead: Parcel Area: 10-117-23-12-0001 Ethan H De Naray 860 Brown Rd S Orono, MN 55391 Residential Homestead 14.06 acres 612,643 sq ft A-T-B: Abstract Market Total: $588,000 Tax $7,332.00 Total: (Payable:2015) Sale Price: Sale Date: Sale Code: $540,000 06/2013 Warranty Deed Map Scale: 1 " = 400 ft. Print Date: 3/31 /2015 This map isa compilation of data from various sources and isfumished "AS IS" with no representation or warranty expressed or implied, including fitness of any particular purpose, merchantability, or the accuracy and completeness of the information shown. COPYRIGHT © HENNEPIN COUNTY 2015 3/30/2015 2925 Willowood Farm Rd, Medina, MN 55340 Front Dimensions: Left Dimensions: Right Dimensions: Rear Dimensions: 100 935 1,337 781 Off Market Date: t16/2714 Projected Close Date: C 7/11/14 Date Closed: 7111/14 Acres: Min Lot Size: Fire #: DOM: 396 Property Full Report, Lots & Land, MLS#: 4368862 Status: Sold List Price: $54.,0.0� Sold Price. $540,000 Original List Price: , 00 Map Page: 89 Map Coord: D3 Directions: Willow Drive North of Co. Rd. 24 to Willowood Farm Road to the end v 2014 Microsoft Corporation 0 2'314 Nokia TAX INFORMATION 26.00 Property ID: 1611823130001 Tax w/assess: PDOM: 396 Tax Year: Tax Amt: Assess Bal: Property ID #2: Property ID #3: 2014 Assess Pend: 8,901.00 Homestead: 0.00 Plat Recorded: 8,901.00 No No Yes LakeNVaterfront Information Name: School Lake (Medina City) Type: Lake Front DNR Lake Class: Natural Environment Road Between Waterfront and Home?: DNR Lake ID#: 27015100 Lake Acres: 11.20 Elev Highpt to WF Slope: Lake Bottom: WF Footage Ft: Lake Depth (ft): 19 Elev Highpt to WF Feet: General Property Information Legal Description: County: School District: Builder Restriction: Restrictions/Covts: Land Inclusions: Zoning: Lot Description: Available Utilities: Dev Status: Lot 2, Block 1 Willowood Farm HENN - Hennepin 278 - Orono, 952-449-8305 Open Horses/Livestock Allowed, Other Bldg Survey Residential -Single Tree Coverage - Light Electric, Telephone Raw Land Fencing: Complex/Dev/Sub: Restrictions, Minimum Lot Size, Other Improvements: Road Frontage: Other Private On Site Utilities: None Public Remarks: Spectacular building site overlooking_ School Lake. Superior location! Rare acreage in neighborhood of multi million dollar country estates. Enjoy magnificent sunsets. Baker Park less than 1 mile with 27 holes golf, horse/hiking/biking trails.Orono Schools Owner is an Agent?: No This Report Prepared By: Erik Myhran 952473-3000 Information Deemed Reliable But Not Guaranteed. © 2015 Regional MLS of Minn., Inc. All Rights Reserved. Page 1 of 1 Parcel ID: Owner Name: t Parcel s Address: Property Type: Home- stead: Parcel Area: 16-118-23-13-0001 M Parrish & N Parrish 2925 Willowood Farm Rd Medina, MN 55340 Vacant Land -Residential Non -Homestead 26.05 acres 1,134,882 sq ft A-T-B: Torrens Market Total: Tax Total: Sale Price: Sale Date: Sale Code: $575,000 $8,516.02 (Payable: 2015) $540,000 07/2014 Vacant Land Map Scale: 1 800 ft. Print Date: 3/31 /2015 This map is compilation of data from various sources and isfumished "AS IS" with no representation or warranty expressed or implied, including fitness of any particular purpose, merchantability, or the accuracy and completeness of the information shown. COPYRIGHT © HENNEPIN COUNTY 2015 Presenting: 1925 Fox Street, Orono, MN 55391 0 1 d „ "Se6 List Price: $645,000 MLS#: 4167188 Style: (SF) Two Stories Bedroom_s:, 4 Total Baths: 3 Garage Stalls: 0 Year Built: 1920 Acres: 5.47 Fireplaces: 1 Total Finished SgFt: 2,704 Above Ground: 2,096 Lot Size: 180x635x561x740 Heat: Forced Air Air Conditioning: Central Fuel: Natural Gas Exterior: Wood Basement: Partial, Drain Tiled, Egress Windows Parking: Uncovered/Open, Driveway - Gravel Waterfront: Creek/Stream Waterfront Name: Long Lake Creek Tax Year: 2012 Taxes: $6,903 w/assessments: $6,903 School District: 278 - Orono, 952-449-8300 Description: Sophisticated, charming contemporary cottage style residence -a private nature & wildlife setting with dramatic southerly vistas & creek shore on Long Lake Creek with limited access to Lake Minnetonka. A uniquely magical & special property. Listing courtesy of Coldwell Banker Burnet This Report Prepared By: Erik Myhran 952-473-3000 3/30/2015 Information Deemed Reliable But Not Guaranteed. ©2015 Regional MLS of Minn., Inc. All Rights Reserved. Parcel ID: Owner Name: Parcel Address: Property Type: Home- stead: Parcel Area: 03-117-23-43-0002 Jennifer Ostergarrd 1925 Fox St Orono, MN 55391 Residential Homestead 5.41 acres 235,850 sq ft A-T-B: Abstract Market Total: Tax Total: Sale Price: Sale Date: Sale Code: $502,000 $5,917.68 (Payable:2015) $594,458 08/2012 Warranty Deed Map Scale: 1" = 200 ft. Print Date: 3/31/2015 This map is compilation of data from various sources and is furnished "AS IS" with 1 no representation or warranty expressed or implied, including fitnessof any particular i purpose, merchantability, or the accuracy land completeness of the information shown. COPYRIGHT © HENNEPIN COUNTY 2015 Property Information Name: Marianne Sharma Address: 2633 Hamel Road PID#: 16-118-23-12-0004 Land Size: 11.78 Acres Ground Floor Area: 2144 SQFT Total Above Ground Area: 2692 SQFT Comment. Use: Single Family 2014 2015 Assessor Recommendation Council Action Land. $ 86,9000 $ 966,000 S 546,000 Building $ 283,000 $ 283,000 $ 231,000 Total $1,143,000 $ 1,249,000 $ 777,000 Comments: LAND EQUALIZATION and Home is Dated ADDRESS: 2633 - HAMEL RD PID #: (80) 16-118-23-12-0004 Sale Date: 04/1987 Sale Price: $277,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 1981 Bedrooms: 3 Ground Floor Area: 2,144 Sq.Ft. Above Grade Area: 2,692 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 00% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 0 Full: 2 3/4: 0 1/2: 1 Porches- Glazed: 0 Screened: 0 Open: 0 Deck: 792 Garage #1: 576 Type: Detached Garage #2: 0 Type: Lot Size: 516,983 Sq.Ft. 11.87 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: MEDINA Application to Appeal 2015 Valuation or Classification (for Taxes Payable in 2016) To appear before the Medina Local Board of Appeal and Equalization, an application is preferable. Please complete the information below and return to the City prior to the start of the Board of Appeal and Equalization Meeting on April 8, 2015 at 6:30 p.m. at Medina City Hall, 2052 County Road 24, Medina, MN 55340. You may appear in person, by letter, or be represented by an authorized agent. The City will accept e-mail applications at scottiohnson@ci.medina.mmus or via fax at (763) 473-9359 until 4:30 p.m. on April 8, 2015. *You may also attach your 2015 Notice of Valuation and Classification — County of Hennepin to avoid completing the information with an * (asterisk) noted below. Property Owner Name(s)*: V 1 A PP hP t- do, 1 b u t k e. l°� E Name of Authorized Agent (if applicable): fv Property Location (address)*: LL.3 0� J uJ ILO M F. A bO LOS be. Property Identification Number(s)*: I — 1 f ` 1-fi-1- 00Q 6 1. Please mark an "X" below if you have contacted the City Assessor at (763) 473-3978 as requested. Yes No �. 2. Assessment Year 2014 (as stated on your Notice of Valuation)*:) �i 3. Assessment Year 2015 (as stated on your Notice of Valuation)*: u 00 � Q 4. Your proposed valuation arrdier-e}essifieation for 2015: r75o, Cron Please provide below or attach supporting evidence to convince the board that the current year valuation yr classi€ieatien is incorrect. See additional information on the backside of this page on how to provide supporting evidence. A-f-iHc frir is Rt.! A ppkii i sh i_ Colo buc r o d Fimpti ci Ai._ No\ii-ErnaFQ ; f cp.nit-F Signature of Owner 3/3d/aoi5 3/M/20 .5 Date Phone # (Daytime) c i ' 17 `f �1 07,5 G. ANDERSON & ASSOCIATES INC. File No. 4463 KRUSE APPRAISAL OF LOCATED AT: 43251MLD MEADOWS DRIVE MEDINA, MN 55340 FOR: ALERUS FINANCIAL 11100 WAYZATA BLVD #570 MINNETONKA, MN 55305 BORROWER: KRUSE,PAUL AS OF: November 3, 2014 BY: DAVID M ANDERSON G.ANDERSON & ASSOCIATES Uniform Residential Appraisal Report Fie No 4463 KRUSE The purpose of this summary appraisal report is to provide the lender/client with an accurate. and adequately supported. opinion of the market value of the subject property. Property Address4325 WILD MEADOWS DRIVE City MEDINA State MN ZipCode 55340 Borrower KRUSE, PAUL Owner of Public Record KRUSE, PAUL County HENNEPIN Legal Description WILD MEADOWS 3RD ADDITION, LOT 1, BLOCK 5 Assessors Parcel i 0111823440026 Tax Year 2014 R E Taxes S 10,916 Neighborhood Name WILD MEADOWS Map Referenoe 90 B2 Census Tract0271.01 f�1 Occupant ® Owner Tenant ❑ Vacant Special Assessments S 0 0 PUD HOA S 1,000 Weer year ❑ per month Property Rights ailed Fee Simple Leasehold IJ Other rrde,scribe) Assignment Type Purchase Transaction �RefinanceTransaction UOther(describe) Lender/ClientALERUS FINANCIAL Address 11100 WAYZATA BLVD #570, MINNETONKAyM,N 55305 Is the subject property currently offered for sale a has it been offered for sale in the twelve months prior to the effective date of this appraisal? u Yes ® No Report data source(s) used. offering price(s). and date(s). SUBJECT IS NOT CURRENTLY LISTED AND HAS NOT BEEN LISTED FOR SALE IN THE PAST 12 MONTHS. I U did U dd not analyze the contract for sale for the subjeu purchase transaction Explain the results of the analysis of the contract fa sale or why the analysis was not performed U Contract Price S Date of Contract Is the property seller the owner of pubic retard? U Yes_FI No Data Source(s) downpayment assistan. etc.) to be paid by any party on behalf of the borrower? ❑ Yes ❑ No O Is there any financial assistance (ban charges, sale concessions, gift or assistance. 0 If Yes. report the total dollar amount and describe the items to be paid. Note: Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood Characteristics One -Unit Housing Trends One.Unit Housing Present Land use% Location )Urban ®Suburban Rural Property Values n Increasing Stable Declining PRICE AGE One -Unit 95 % Bult.Up Over 75% 25.75% .. Under 25% Demand/Supply Shortage In Balance Over Supply S(000) (yrs) 2.4 Unit % o Growth Rapid Stable Slow Marketing Time Under 3 mths 3.6 mths ..r _ Over 6 rnths 160 Low 1 Mtiti.Famly % c Neighborhood Boundaries AREA IS BORDERED NORTH BY CORCORAN, EAST BY HWY 101, 1,765 High 114 Commercial 5 % o SOUTH BY HWY ORONO, WEST BY INDEPENDENCE. 612 Pred. 14 Other % Neighborhood Description IMMEDIATE NEIGHBORHOOD IS NEWER DEVELOPMENT OF UPPER PRICE BRACKET CUSTOM BUILT z SINGLE FAMILY HOMES. OVERALL MARKET AREA HAS SINGLE FAMILY HOMES, FARM TYPE PROPERTIES AND SCATTERED COMMERCIAURETAIL PROPERTIES. Market Conditions (inducing support for the above conclusions) See Attached Addendum Dimensions 127X181X131X180 Area 23284 sf Shape IRREGULAR View B;Res;Pstrl Specific Zoning Classification PUD Zoning Description PLANNED UNIT DEVELOPMENT Zoning Compliance n Legal ( liege! Nonconforming (Grandfathered Use) ( 1 No Zoning ❑ illegal (describe) Is the highest and best use of the subject property as improved (or as proposed per plans and specifications) the present use? ® Yes U No If No. describe. SUBJECT IS HIGHEST & BEST USE. Utilities Public Other(describe) Public Other (describe) Ofl•site Improvements —Type Public Private F Electricity ® water Street ASPHALT 4 N Gas ® Sanitary Sewer X Ailey NONE FEMA Special Flood Hazard Area ❑ Yes (X) No FEMA Flood Zone X FEMA Map if 27053C0167E FEMA Map Date 09/02/2004 Are the unities and off -site improvements typical for the market area? ®Yes ❑No If No. describe. TYPICAL FOR THE AREA. Are there any adverse site conditions or external factors (easements, encroachments, environmental condtions, land uses, etc.)? ❑Yes ® No If yes, describe THERE ARE NO APPARENT ADVERSE EASEMENTS, ENCROACHMENTS OR SITE CONDITIONS THAT HAVE AN ADVERSE EFFECT ON VALUE. HOME IS WESTERLY FACING ON THE ROLLING SITE WHICH IS WELL LANDSCAPED AND HAS WETLAND AREA TO THYE REAR. DRIVE IS ASPHALT. SITE HAS IRRIGATION SYSTEM GENERAL DESCRIPTION FOUNDATION EXTERIOR DESCRIPTION materials/condition INTERIOR materials/condition Units ®One UOnewdh Accessory Unit Concrete Slab .. Crawl Spate Foundation Weis POUR CONC GD Floors CARP/HWD GD e of Stories 1 X, Fun Basement _ Partial Basement Exterior Walls BRS/ALM GD Walls DRYWALL GO T i- 0Det ❑Att S.DetfEndUnit �UnderCmst. Basement Area 1991 sq ft Roof Surface ASPH/FBGL GD Trim/Finish WOOD GOOD . Existing ❑Proposed Basement finish 89% Gutters& Downspouts ALUMINUM AVG Bath Floor CERAMIC GD Design(Style)Rambler Outside En /Exit Sump Pump Window Type CSMTS GOOD Bath Wainscot CT/FBGLGD Year Built2003 �iEEvviidenceof Infestation StormSasNlnsulated NSUUCOMBO Car Storage i INone Effective Age(Yrs)3.5 I JDankmess Settlement Screens YES JDOriveway ►of Cars 3 Attic None X]FWA HWBBIURodent Amenities _ WoodStove(s)00 Drive waySurface ASPHALT +Drop Stair Stairs THeating ` ,Other Fuel GAS Fkepiace(s)4 2 Fence NONE Garage i of cars 3 Floor Swtlle Cooling IX)Central Air ConditioningPatio/Deck None Porch NONE I}fsGrY1SI Carport Cars 0 Finished Heated r Individual Other Pool NONE Other None I1 An oet. I 18unt.in noel L . Appliances (X( Refrigerator (X(Range/Oven X,Dishrvasher _ (XID+s4II�posal (X)Microwave IX)Washer/Dryer Other (describe) S Finished area above grade contains. 6 Rooms 1 Bedrooms 1.1 Bath(s) 2,234 Square feet of Gross living Area Above Grade ''. Additional features (special energy efficient items. etc.). 200 AMP ELECTRIC, 2 FIREPLACE, SNACK BAR IN C-ISLAND KITCHEN, C-AIR, ci IRRIGATION SYSTEM, WHIRLPOOL MASTER BATH, WET BAR, BUILT-IN BOOK CASES, BUFFET & CABINETS. Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.). C3;No updates in the prior 15 vears;THERE ARE NO FUNCTIONAL OR PHYSICAL INADEQUACIES WITH THE SUBJECT. SUBJECT IS CONSTRUCTED OF GOOD QUALITY MATERIALS & WORKMANSHIP. SUBJECT HAS MINIMAL DEPRECIATION DUE TO AGE. SUBJECT HAS SOME UPGRADED DECORATING & FINISHING. ROOF APPEARED ADEQUATE. Are there any physical deficiencies or adverse conditions that affect the livability, soundness. or structural Integrity of the properly? ❑ Yes ® No If Yes, describe. THERE ARE NO PHYSICAL DEFICIENCIES OR ADVERSE CONDITIONS THAT AFFECT LIVABILITY, SOUNDNESS OR STRUCTURAL INTEGRITY OF THE SUBJECT PROPERTY. UTILITIES WERE ON AND IN WORKING ORDER AT TIME OF INSPECTION. Does the property generally conform to the neighborhood (factional utility, style. condition. use, construction. etc.)? ®Yes ❑No If No, describe. SUBJECT GENERALLY CONFORMS TO THE NEIGHBORHOOD. TYPICAL IN UTILITY, STYLE CONDITION USE & CONSTRUCTION QUALITY. 'awn 9'1011 n1rr1 ,Nrig afA vlK:rr COO 2348222 woo .nivnT. ran Page Ids twat. Mgr film 1001 Alwrh 2005 norosu,. ;n.ril G.ANDERSON & ASSOCIATES Uniform Residential Appraisal Report File No. 4463 KRUSE There are 3 comparable properties currently offered for sale in the subject neighborhood ranging in price from S 699,000 to s 825,000 There are 6 comparable sates in the subject neighborhood within the past twelve months rancrg in sale price from S 625,000 to S 775,000 FEATURE I SUBJECT COMPARABLE SALE NO.1 COMPARABLE SALE NO.2 COMPARABLE SALE N0. 3 4325 WILD MEADOWS DRIVE Address MEDINA, MN 55340 270 LYTHRUM LANE MEDINA, MN 55340 4640 BLUEBILL TR N MEDINA, MN 55340 17573 75TH AVE MAPLE GROVE, MN 55311 Proximity to Subject 0.28 miles SW 1.89 miles NW 3.05 miles NE Sale Price S S 680 000 S 774,500 S 747,500 Sale Price/Gross Liv. Area S 0.00 sq ft S 327.40 sq ft. S 348.72 sq It. s 327.85 sq. ft. Data Source(s) NMLS #4506087;DOM 54 NMLS #4474364;DOM 73 NMLS #4466348;DOM 49 Verification Source(s) AGENT/CTY REC'S AGENT/CTY REC'S AGENT/CTY REC'S VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION ioSASushicel DESCRIPTION .0sAglAammr DESCRIPTION .fdsArtrnwrm Sale or Financing Concessions ArmLth Conv;O ArmLth Conv;O ArmLth Conv;O Date ofSale/Time s10/14;c09/14 s08/14;c07/14 s05/14;c05/14 Location B;Res; B;Res; B;Res; B;Res; Leasehold/FeeSimple FEE SIMPLE FEE SIMPLE FEE SIMPLE FEE SIMPLE Site 23284 sf 21898 sf 0 13503 sf 0 30056 sf 0 view B;Res;Pstrl B;Res; 10 000 B;Res;Pstrl B;Res; 10,000 Design (Style) DTI ;Rambler DT1;Rambler DT1;Rambler DT1;Rambler Quality ofconstruction Q2 Q3 50,000 02 02 Actual Aqe 11 10 0 6 0 6 0 ConTdion C3 C3 C3 C3 Above Grade row Bamu Balls Total Bdrm: Baths Taal 13rk flans Taal Berms Bans Room Count 6 1 1.1 7 2 1.1 0 7 1 1.1 0 6 1 1.1 Gross UvingArea 50 2,234 sq ft 2,077 sq ft 7,900 2,221 sq. ft. 700 2,280 sq ft. -2,300 Basemen a Finished Rooms Below Grade 1991sf1771sfwo 1rr2br2.0ba10 2077sf1906sfwo 1rr2br1.0ba0o -3,600 0 2221sf1973sfwo 1rr3br2.0bato -6,300 0 2280sf2110sfwo 1rr3br2.0balo -9,700 0 z Functional Utifity GOOD GOOD GOOD GOOD C' Heatinq/Coorulq GFWA C/AIR GFWA C/AIR GFWA C/AIR GFWA C/AIR a Energy Efficient Items 2X6 CONST. 2X6 CONST. 2X6 CONST. 2X6 CONST. c Garage/Carion 3ga3dw 3ga3dw 3ga3dw 3ga3dw —< Porch/Patio/Deck SM OP PORCH POR/DK/PAT -10 000 OP POR/DK/PA -7,500 SC/OP POR -7,500 FPUVVD STOVE 2 FPLC 2 FPLC 3 FPLC -2,500 FPLC 5,000 FENCE/SHED SPRINK SYS SPRINK SYS SPRINK SYS SPRINK SYS APPLS APP/WHP/SEC APP/WHP/SEC APP/WHP/SEC SOME APPLS 5,000 � Net A4ustment(Total) ID. ❑• S 54,300 —EDa 0. s 15600 ®r ❑• s 500 v. Adjusted Sale Price f ofComparables Net Ad. 8.0% GrossA4. 12.0% S 734,300 Net Adj -2.0% GrossA4. 2.2% s 758,900 NetAdj. 0.1% Gross Ad. 5.3% S 748,000 I all did ❑ did not research the sale or transfer history of the subject property and comparable sates. If not. explain My research ['did ® did not reveal any prior sales or transfers of the subject property for the three years ON to the effective date of this appraisal. Data source(sLMLS & COUNTY TAX RECORDS My research H did ()Odd not reveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale. Data source(s) MLS & COUNTY TAX RECORDS Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sates (report addiriomal prior sates on page 3). ITEM SUBJECT COMPARABLE SALE NO. 1 COMPARABLE SALE NO.2 COMPARABLE SALE NO Date of Prier Saleffransfer Price of Prior Sale/Transfer Datasotrce(s) NMLS NMLS NMLS NMLS Effective Date of DataSource(s) 11/03/2014 11/03/2014 11/03/2014 11/03/2014 Analysis of prior sale or transfer history ofthe subject propenyand comparablesales SUBJECT HAS NOT SOLD IN PREVIOUS 3 YEARS. COMPS HAVE NOT SOLD IN PREVIOUS YEAR. Summary of Sales Comparison Approach. Indicated Value by Sales Comparison Approach $ 750.000 Indicated Valueby: Sales Comparison Approach s750,000 Cost Approach (if developed) S 756, 100 Income Approach (if developed)s MARKET ANALYSIS GIVES THE BEST ESTIMATE OF MARKET VALUE. SUBJECT PROPERTY SHOULD HAVE AN ESTIMATED MARKETING/EXPOSURE TIME OF 1-90 DAYS. APPRAISER HAS NOT PREVIOUSLY PERFORMED OR PROVIDED APPRAISAL �—� OR OTHER SERVICES TO THE SUBJECT PROPERTY WITHIN THE PAST 3 YEARS. This appraisal is made (K)'as is.' ❑ subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed. z ❑ subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or ❑ subject to the following required o inspeaion based on the extmacinary assumption that the condition or deficiency does not require alteration a repair: APPRAISAL IS MADE OF THE SUBJECT IN AS- IS CONDITION. RENTAL INFORMATION IS LIMITED AND GIVEN NO EMPHASIS IN THIS REPORT. Based on a complete visual inspection of the interior and exterior areas of the subject property. defined scope of work. statement of assumptions and limiting conditions. and appraiser's certification. my (our) opinion of the market value. as defined. of the real property that is the subject of this report Is 750,000 as of 11/03/2014 . which is the date of inspection and the effective dam or this appraisal. UAB VR rxvimlwrp A11,44„rr Mo 211M1 wee, r^..h p,n Page2d6 G. Anderson & Associates Inc. r ami^ Ilserorm 1001 falt^h 05 10:11 Csunu "Tn G.ANDERSON & ASSOCIATES Uniform Residential Appraisal Report File No. 4463 KRUSE CLARIFICATION OF INTENDED USE AND INTENDED USER. THE INTENDED USER OF THIS APPRAISAL REPORT IS THE LENDER/CLIENT. THE INTENDED USE IS TO EVALUATE THE PROPERTY THAT IS THE SUBJECT OF THIS APPRAISAL FOR A MORTGAGE FINANCE TRANSACTION, SUBJECT TO THE STATED SCOPE OF WORK, PURPOSE OF THE APPRAISAL, REPORTING REQUIREMENTS OF THIS APPRAISAL REPORT FORM, AND DEFINITION OF MARKET VALUE. NO ADDITIONAL INTENDED USERS ARE IDENTIFIED BY THE APPRAISER. s Z 1 S' J Q Z YC G COST APPROACH TO VALUE (not required by Fannie Mae) Provide adequate information for the 1endedc lent to replicate the below cost figures and calculations. Support fa the opinion of site value (summary of comparable land sales or other methods for estimating SIMILAR TYPE APPEAL IN THE SUBJECT AND COMPETING MARKET site value) SITE VALUE WAS BASED ON LAND SALES OF SEGMENTS. ESTIMATED n REPRODUCTION OR 0 REPLACEMENT COST NEW OPINION OF SITE VALUE S 185,000 Source of cost data LOCAL BUILDING TRENDS Dwelling 2,234 So. ft @S 200 = S 446,800 $ Quality rating from cost service GOOD Effective date of cost data 11/03/2014 1771 Sq FteS 35 = f 61,985 c Comments on Cost Approach (gross living area calculations, depreciation, etc.) EXTRA FEATURES 25,000 n PHYSICAL DEPRECIATION IS CALCULATED AT 5%. COST o Garage/Carport 913 Sq Ft. do S 45.... _ S 41,085 FIGURES ARE BASED ON LOCAL TRENDS AND MARSHALL Taal Estimate d Cost.New = S 574,870 SWIFTS. REMAINING ECONOMIC LIFE OF THE SUBJECT IS Less 50 Physical functional External 45.50YEARS. Depreciation $28,744 - S( 28,744) Depreciated Cost of Improvements = S 546,126 -As•is" Value of Site Improvements : S 25,000 Esbmated Remaining Economic life (HUD and VA oniy) 47 Years INDICATED VALUE BY COST APPROACH - f 756,100 INCOME APPROACH TO VALUE (not required by Fannie Mae) Estimated Monthly Market Rex S X Gross Rent Multiplier = S Indicated Value by Income Approach z Summary of Income Approach (including support for market rent and GRM) PROJECT INFORMATION FOR PUDs (if applicable) Is the developer/UW(1er in control of the Homeowners' Association (HOA)? ❑ Yes ® No Una type(s) 0 Detached ❑ Attached Provide the following information for PUDs ONLY if the devetoperlbuilder is in control of the HOA and the sublect properly is an attached dwelling unit. Legal name of project WILD MEADOWS z Taal number of phases 1 Taal number Omits 150 Total number of units sold 150 ,. Taal number of units rented 0 Total number of units la sale 1 Datasource(s) NMLS/GASSONMGMT COMPANY Was the praect created by the conversion of an exisd building(Ts�)�i,nto a PUD? ❑ Yes ® No If Yes, date of conversion o Does the project contain any muhi.dwalino units? Yes I�JNo Data sourc s) MGMT COMPANY Are the units, common elements• and recreation facilities complete? i) Yes No If No, deSaibe the status of completion. c a Are the common elements leased to or by the Homeowners' Association? ❑ Yes ® No If Yes, describe the rental terms and options. Desuibecommon elements and reaeabonal(waffles. MINIMAL COMMON AREAS. COMMON AREAS CONSIST OF GREEN SPACE ONLY. IC1il5e lox 1 an 70 Nut 'a51on!xM11 wgA(1Wvvr KO 7118171.. -mm Page. 3 016 I Anne I.13e f am 10011Amh 7005 G.ANDERSON & ASSOCIATES Uniform Residential Appraisal Report Fee No. 4463 KRUSE This report form is designed to report an appraisal of a one -unit property or a one -unit property with an accessory unit; including a unit in a planned unit development (PUD). This report form is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project. This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value, statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intended use, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's continuing education or membership in an appraisal organization, are permitted. SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources, and (5) report his or her analysis, opinions, and conclusions in this appraisal report. INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of this appraisal for a mortgage finance transaction. INTENDED USER: The intended user of this appraisal report is the lender/client. DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sate as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions' granted by anyone associated with the sale. *Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the following assumptions and limiting conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it, except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opinions about the title. 2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements. The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand, or as otherwise required by law. 5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the research involved in performing this appraisal. Unless otherwise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any such Conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, this appraisal report must not be considered as an environmental assessment of the property. 6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will be performed in a professional manner. ra9:I d 6 G.ANDERSON & ASSOCIATES Uniform Residential Appraisal Report file No. 4463 KRUSE APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: 1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report. 2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition of the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the livability, soundness, or structural integrity of the property. 3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 4. I developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop them, unless otherwise indicated in this report. 5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report. 6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report. 7. I selected and used comparable sales that are Iocationally, physically, and functionally the most similar to the subject property. 8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home that has been built or will be built on the land. 9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales. 10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest in the sale or financing of the subject property. 11. I have knowledge and experience in appraising this type of property in this market area. 12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listing services, tax assessment records, public land records and other such data sources for the area in which the property is located. 13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct. 14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. I have noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property or that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject property. 15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and information in this appraisal report are true and correct. 16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report. 17. I have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law. 18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application). 19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in this appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take no responsibility for it. 20. I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization that ordered and will receive this appraisal report. 21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of the borrower; the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; other secondary market participants; data collection or reporting services; professional appraisal organizations; any department, agency, or instrumentality of the United States; and any state, the District of Columbia, or other jurisdictions; without having to obtain the appraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, public relations, news, sales, or other media). f 2'tniC mae ton 1001 MIMI TM Par Scf 6 /001 DSUADr1` .1,4 G.ANDERSON & ASSOCIATES Uniform Residential Appraisal Report File No 4463 KRUSE 22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain laws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me. 23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, govemment sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any mortgage finance transaction that involves any one or more of these parties. 24. If this appraisal report was transmitted as an "electronic record' containing my 'electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. 25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/or criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 1001, et seq., or similar state laws. SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that: 1. I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 2. I accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 3. The appraiser identified in this appraisal report is either a sub -contractor or an employee of the supervisory appraiser (or the appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law. 4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 5. If this appraisal report was transmitted as an "electronic record' containing my "electronic signature,' as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. APPRAISER Signature 12c -gli.a eara� Name DAVID M ANDERSON Company Name G. ANDERSON & ASSOCIATES, INC. Company Address 1645 IVORY AVE NORTH LAKE ELMO, MN 55042 Telephone Number 651-730-9969 Email Address DMAGAAlaCOMCAST.NET Date of Signature and Report 11/03/2014 Effective Date of Appraisal 11/03/2014 State Certification # 4000737 or State License # or Other (describe) State MN State # Expiration Date of Certification or License 08/31/2016 ADDRESS OF PROPERTY APPRAISED 4325 WILD MEADOWS DRIVE MEDINA, MN 55340 APPRAISED VALUE OF SUBJECT PROPERTY $ 750,000 LENDER/CLIENT Name NO AMC Company Name ALERUS FINANCIAL Company Address 11100 WAYZATA BLVD #570 MINNETONKA, MN 55305 Email Address N/A SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature Name Company Name Company Address Telephone Number Email Address Date of Signature State Certification # or State License # State Expiration Date of Certification or License SUBJECT PROPERTY ❑ Did not inspect subject property ❑ Did inspect exterior of subject property from street Date of Inspection ❑ Did inspect interior and exterior of subject property Date of Inspection COMPARABLE SALES ❑ Did not inspect exterior of comparable sales from street ❑ Did inspect exterior of comparable sales from street Date of Inspection rIPEAr Mac Fan ro Mx[h NW. Par6d6 G. Anderson & Associates Inc. (wog: Mae fan 1001 March 7005 lOW OSua')r•++.M�) G.ANDERSON R ASSOCIATES Uniform Residential Appraisal Report Fite No. 4463 KRUSE FEATURE SUBJECT COMPARABLE SALE NO COMPARABLE SALE N0. 5 COMPARABLE SALE NO.6 4325 WILD MEADOWS DRIVE Address MEDINA, MN 55340 Proximity to Sublet( 4165 WILD MEADOWS DR MEDINA. MN 55340 0.23 miles SW 4455 BLUEBELL TR S MEDINA. MN 55340 1.84 miles NW Sale Price b s 825 000 b 790 000 s Sale R teGross TN foe Data Source(s) S 0.00 sq F. s 223.70 sq A NMLS #4435406;DOM 276 S 375.65 sq ft NMLS #4519673;DOM 82 sq ft Verification Source(s) VALUE ADJUSTMENTS sale or Financing Concessions Date of Sale!Time Location LeaseholdfFee Simp' Site DESCRIPTION B; Res; FEE SIMPLE 23284 sf AGENT/CTY REC'S DFSCRIPTION ArmLth Conv;2900 s09/14 C09/14 B: Res; FEE SIMPLE 30056 sf AGENT/CTY REC'S DESCRIPTION •n sne,�:�rmi 0 Listing-39,500 :0 0 Active B; Res; FEE SIMPLE 15942 sf 0 DESCRIPTION Vier; Design (Style) Quality of ConSClfenOn Actual Aqe Coned!on B:Res;Pstrl DT1;Rambler Q2 11 C3 B• Res; Pstrl DT2;Traditional Q2 9 C3 B; Res; 0 DT1;RAMBLER Q2 0 6 C3 10,000 Above Grade Room Count Gross TMngArea 50 Basement & Finished Rooms Below Grade Functional Utility Heating/Coolinq Energy Efficient Items Garage'Caroort Perch'PaliarDeck I c'aI 6 Pens aa: 1 I 1.1 2 234 sq It 1991 sf1771 sfwo 1rr2br2.0ba10 GOOD GFWA C/AIR 2X6 CONST. 3ga3dw SM OP PORCH Cl2I 10 4cmcl Pa: 4 3.1 3,688 sq ft 2533sfOsfin GOOD GFWA C/AIR 2X6 CONST. 3ga3dw SC POR/PATIO 0 -72,700 30,000 0 7.500 Tool Bars 6 1 awns 1.1 2,103 sq. ft 2 i 03sf1817sfwo 1 rr2brl.Oba 1 o GOOD GFWA C/AIR 2X6 CONST. 3ga3dw SC POR/DECK 6.600 -2, 000 D 10.000 c; e]ir. s ex sq ft FPL/VVD STOVE 2 FPLC FPLC 5.000 2 FPLC FENCE/SHED SPRINK SYS SPRINK SYS SPRINK SYS APPLS Net Adjustment (Total) Adjusted Sale Pnce of Comparables ITEM APP/WHP/SEC APP/WHP/SEC APP/VVHP/SEC f--� ❑. �- s 45,200 ❑. Q s 34,900 a D- s Net Adj. -5.5% Net Ad -4.4% Nethdj % Gross Ac{ 14.0'% S 779,800 Gross/ad 8.6% S 755,100 Gross Adi. % S SUBJECT COMPARABLE SALE NO. 4 COMPARABLE SALE N0. 5 COMPARABLE SAL E NO 6 Dale of Prior SalefTransler Price o` Pnor Sal44ransfer Data Scurce(s) Effective Date of Data Source(s) NMLS 1 1 /03/2014 NMLS 11 /03/2014 NMLS 11 /03/2014 Summary o' Sa'es Comparison Apo oath THESE COMPARABLES ARE SUPPLIED TO FURTHER SUPPORT THE ESTIMATED MARKET VALUE FOR THE SUBJECT PROPERTY DETERMINED BY SALES 1-3. COMP 4 IS FROM SUBJECT DEVELOPMENT BUT VARIES IN STYLE TO THE SUBJECT. COMP 5 IS ACTIVE LISTING OF SIMILAR STYLED HOME FROM THE SUBJECT MARKET SEGMENT. COMP 5 IS ADJUSTED BY TYPICAL MARKET REACTION. Fro00ic sbc lam 2osfx:n NOS UAD VtNaf orto11 A•.]r.,24,m PC •Mer.. 8002N 8727 wrm .-:..? •ivn ram, udc Fam 1004 2,2..:2 2J0 G.ANDERSON & ASSOCIATES Uniform Appraisal Dataset Definitions Ile No. 4463 KRUSE Condition Ratings and Definitions Cl The improvements have been very recently constructed and have not previously been occupied. The entire structure and all components are new and the dwelling features no physical depreciation.' 'Note: Newly constructed improvements that feature recycled materials and/or components can be considered new dwellings provided that the dwelling is placed on a 100% new foundation and the recycled materials and the recycled components have been tehabilitated/re•manufactured into like -new condition. Recently constructed improvements that have not been previously occupied are not considered 'new' if they have any significant physical depreciation (i.e.. newly constructed dwellings that have been vacant for an extended period of time without adequate maintenance or upkeep). C2 The improvements feature no deferred maintenance, little or no physical depreciation, and require no repairs. Virtually all building components are new or have been recently repaired, refinished, or rehabilitated. All outdated components and finishes have been updated and/or replaced with components that meet current standards. Dwellings in this category either are almost new or have been recently completely renovated and are similar in condition to new construction. 'Note: The improvements represent a relatively new property that is well maintained with no deferred maintenance and little or no physical depreciation, or an older property that has been recently completely renovated. C3 The improvements are well maintained and feature limited physical depreciation due to normal wear and tear. Some components. but not every major building component may be updated or recently rehabilitated. The structure has been well maintained. Note.' The improvement is in its fast•cycle of replacing short. lived building components (appliances, floor coverings, HVAC, etc.) and is being well maintained. Its estimated effective age is less than its actual age. It also may reflect a property in which the majority ofshortlived building components have been replaced but not to the level of a complete renovation. C4 The improvements feature some mina deferred maintenance and physical deterioration due to normal wear and tear. The dwelling has been adequately maintained and requires only minimal repairs to building components/mechanical systems and cosmetic repars. All major building components have been adequately maintained and are functionally adequate. 'Note: The estimated effective age may be close to or equal to its actual age. It reflects a property in which some of the short-lived building components have been replaced, and some short-lived building components are at or near the end of their physical life expectancy' however, they still function adequately. Most mirror repairs have been addressed on an ongoing basis resulting in an adequately maintained properly. C5 The improvements feature obvious deferred maintenance and are in need of some significant repairs. Some building components need repairs, rehabilitation, or updating. The functional utility and overall livability is somewhat diminished due to condition, but the dwelling remains useable and functional as a residence. 'Note: Some significant repairs are needed to the improvements due to the lack of adequate maintenance. It reflects a properly in which many of its shon•lived building components are at the end of or have exceeded their physical life expectancy but remain functional. C6 The improvements have substantial damage or deferred maintenance with deficiencies or defects that are severe enough to affect the safety, soundness, or stmclural integrity of the improvements. The improvements are in need of substantial repairs and rehabilitation, including many or most major components. 'Note: Substantial repairs are needed to the improvements due to the lack of adequate maintenance or property damage. It reflects a property with conditions severe enough to affect the safety, soundness, or structural integrity of the improvements. Quality Ratings and Definitions Q1 Dwellings with this quality rating are usually unique structures that are individually designed by an architect for a specified user. Such residences typically are constructed from detailed architectural plans and specifications and feature an exceptionally high level of workmanship and exceptionally high-grade materials throughout the interior and exterior of the structure. The design features exceptionally high•quality exterior refinements and ornamentation. and exceptionally high -quality interior refinements. The workmanship, materials, and finishes throughout the dwelling are of exceptionally high quality. Q2 Dwellings with this quality rating are often custom designed for construction on an individual properly owner's site. However, dwellings in this quality grade are also found in high -quality tract developments featuring residences constructed from individual plans or from highly modified or upgraded plans. The design features detailed. high -quality exterior ornamentation, high -quality interior refinements, and detail. The workmanship, materials, and finishes throughout the dwelling are generally of high or very high quality. Q3 Dwellings with this quality rating are residences of higher quality buih from individual or readily available designer plans in above -standard residential tract deve oprnenls or on an individual property owner's site. The design includes significant exterior ornamentation and interiors that are well finished. The workmanship exceeds acceptable standards and many materials and finishes throughout the dwelling have been upgraded from "stock" standards. Q4 Dwellings with this quality rating meet or exceed the requeements of applicable budding codes. Standard a modified standard building plans are utilized and the design includes adequate fenestration and some exterior ornamentation and interior refinements. Materials, workmanship, finish, and equipment are of stock or builder grade and may feature some upgrades. Q5 Dwellings with this quality rating feature economy of construction and basic functionality as main considerations. Such dwellings feature a ptain design using readily available or basic floor plans featuring minimal fenestration and basic finishes with minimal exterior ornamentation and limited interior detail. These dwellings meet minimum building codes and are constructed with inexpensive, stock materials with limited refinements and upgrades. Q6 Dwellings with this quality rating are of basic quality and lower cost some may not be suitable for year-round occupancy. Such dwellings are often built with simple plans or without plans, often utilizing the lowest quality building materials. Such dwellings are often built or expanded by persons who are professionally unskilled or possess only minimal construction skills. Electrical, plumbing, and other mechanical systems and equipment may be minimal or non-existent. Older dwellings may feature one or more substandard or nonconforming additions to the original structure. Definitions of Not Updated, Updated, and Remodeled Not Updated Little or no updating or modernization This description includes. but is not limited to. new homes. Residential properties of fifteen years of age or less often reflect an original condition with no updating. if no major components have been replaced or updated. Those over fifteen years of age are also considered not updated it the appliances, fixtures, and finishes are predominantly dated. An area that is 'Not Updated' may still be well maintained and fully functional, and this rating does not necessarily imply deferred maintenance or physical /functional deterioration. Updated the area of the home has been modified to meet current market expectations. These modifications are limited in terms of both scope and cost. An updated area of the home should have an improved look and feel, or functional utility. Changes that constitute updates include refurbishment and/or replacing components to meet existing market expectations. Updates do not include significant alterations to the existing structure. Remodeled Significant finish and/or structural changes have been made that increase utility and appeal through complete replacement and/or expansion. A remodeled area reflects fundamental changes that include multiple alterations. These alterations may include some or all of the following: replacement of a major component (cabinel(s), bathtub. or bathroom tile), relocation of plumbing/gas fixtures/appliances, significant structural alterations (relocating walls, and/or the addition of square footage). This would include a complete gutting and rebuild. Explanation of Bathroom Count The number of full and ham baths is reported by separating the two values by a period. The full bath is represented to the left of the period. The half bath count is represented to the right of the period. Three-quarter baths are to be counted as a fun bath in all cases. Quarter baths (baths that feature only toilet) are not to be included in the bathroom count. �...anr.vrg PI I wncrr ED0274 3777. re Nw-hush 100i DSetDC77„f'7 I1n2rrn ly.p,r. �: n4Au1 MinbrnS G.ANDERSON & ASSOCIATES Uniform Appraisal Dataset Definitions Fie No. 4463 KRUSE Abbreviations Used in Data Standardization Text Abbrev. Full Name ac AdjPrk AdjPwr A Math AT ba br B BsyRd cp Cash ClySky CtyStr Comm c Cony cv CrtOrd DOM DT dw Estate e FHA 9 ga gbi Id GR GlfCse GM/ HR Ind Acres Adjacent to Park Adjacent to Power Lines Adverse Arms Length Sale Attached Structure Bathroom(s) Bedroom Beneficial Busy Road Carport Cash City View Skyline View City Street View Commercial Influence Contracted Date Conventional Covered Court Ordered Sale Days On Market Detached Structure Driveway Estate Sale Expiration Date Federal Housing Authority Garage Garage • Attached Garage - Built-in Garage - Detached Garden Structure Golf Course Golf Course View High Rise Structure Industrial Appropriate fields Area, Site Location Location Location & View Sate or Financing Concessions Design(Style) Basement & Finished Rooms Below Grade Basement & Finished Rooms Below Grade Location & View Location Garage/Carport Sale or Financing Concessions View View Location Date of Sale/fime Sale or Financing Concessions Garage/Carport Sale or Finandng Concessions Data Sources Design(Style) Garage/Carport Sale or financing Concessions Date of Sale/Time Sale or Financing Concessions Garage/Carpon Garage/Carport Garage/Carport Garage/Carport Design(Style) Location View Design(Style) Location & View Abbrev. i1 Lndli LtdSght Listing MR Mtn N NonArm op 0 0 Prk Psbl Poch PubTm IT Reb REO Res RT RH SD s Short sf sclm Unk VA wv wv WUFr Wu w Woods Full Name Interior Only Stairs Landfill Limited Sight Listing Mid -Rise Structure Mountain View Neutral Non -Arms Length Sale Open Other Other Park View Pastoral View Power lines Pudic Transportation Recreational (Rec) Room Relocation Sale REO Sale Residential Row or Townhouse Rural Housing - USDA Semi•delached StruUure Settlement Date Short Sale Square Feel Square Meters Unknown Veterans Administration Walk Out Basement Walk Up Basement Water Frontage Water View Withdrawn Date Woods View Appropriate Fields Basement & Finished Rooms Below Grade Location View Sale or Financing Concessions Design(Style) View Location & View Sale or Financing Concessions Garage/Carport Basement & Finished Rooms Below Grade Design(Style) View View View Location Basement & Finished Rooms Below Grade Sale or Financing Concessions Sale or Financing Concessions Location & View Design(Style) Sale or Financing Concessions Design(Style) Date of Sale/Time Sale or Financing Concessions Area, Site, Basement Area, Site. Basement Date of Sale/Time Sale or Financing Concessions Basement & Finished Rooms Below Grade Basement & Finished Rooms Below Grade Location View Date of Sale/Time View Other Appraiser -Defined Abbreviations Abbrev. Full Name Appropriate Fields Abbrev. Full Name Appropriate Fields llllb Vntinn 97011 ReArel v>g Ml..diro• F09 ?II 8777wrwmap pm Urdu( 40,1(Mosel rinatrn coon esmurr?r•r ADDENDUM Borrower KRUS£. PAUL Fite No.: 4463 KRUSE Property Address: 4325 VYILD MEADOWS DRIVE Case No.; City. MEDINA Lenchr. ALERUS FINANCIAL State: MN Zip: 55340 Neighborhood Market Conditions MARKET AREA HAS HAD APPROX., 75-80% SALE OF ON MARKET PROPERTIES WITH AN AVG MARKETING TIME OF 15-180 DAYS DURING 2013 8 FIRST 1/2 OF 2014. AVG LIST PRICES HAVE STABILIZED. MARKETING TIMES HAVE INCREASED SLIGHTLY. SALE PRICES HAVE BEEN APPROXIMATELY 96.5% OF LIST PRICES. SALES OF NON OWNER OCCUPIED AND BAN K/CORPORATE OWNED HOMES HAVE EXPERIENCED DISCOUNTED PRICING FROM 25% TO 35%. THESE SALES HAVE AFFECTED OVERALL MARKET DATA. MUC H OF THE VALUE DECLINE OCCURED IN LATE 2006 THROUGH 2O11. THESE DECLINES DID EFFECT THIS MARKET SEGMENT ON A LIMITED BASIS. VALUES ON LENDER MEDIATED AND CORPORATE OWNED HOMES APPEAR TO HAVE BOTTOMED OUT 8 STABILIZED DURING 2012 AND 2013. SALES OF NON DISTRESSED TYPE PROPERTIES HAVE GENERALLY REMAINED STABLE DURING 2013 AND FIRST 1/2 OF 2014. SUBJECT PROPERTY PHOTO ADDENDUM Borrower: KRUSE. PAUL File No.: 4463 KRUSE Property Address:4325 WILD MEADOWS DRIVE Case No.: City: MEDINA State: MN Zip: 55340 Lender: ALERUS FINANCIAL FRONT VIEW OF SUBJECT PROPERTY Appraised Date: November 3, 2014 Appraised Value: $ 750,000 REAR VIEW OF SUBJECT PROPERTY STREET SCENE Borrower: KRUSE, PAUL File No.: 4463 KRUSE Property Address:4325 WILD MEADOWS DRIVE Case No.: City: MEDINA State: MN Zip: 55340 Lender: ALERUS FINANCIAL _ ref t rdi4 REAR REAR VIEW LIVING ROOM . Cli t i • I II ri DINING ROOM DEN MASTER BEDROOM ,11 _ il'/ - r MASTER ABTH KITCHEN INFORMAL DINING A a ct y - CA lirII LAUNDRY 1/2 BATH LOWER FAMILY ROOM s --MO = "� • • _ _ , I ' LOWER GAME ROOM WET BAR AREA Mn.tvlknog •en,.eaoezusrn..r.,,.,,,,M«„ LOWER BEDROOM PIIf15 Borrower: KRUSE, PAUL File No.: 4463 KRUSE Property Address:4325 WILD MEADOWS DRIVE Case No.: City: MEDINA State: MN Zip: 55340 Lender: ALERUS FINANCIAL LOWER BEDROOM LOWER 2ND BATH LOWER BATH MECHANICAL MECHANICAL n•K.em-,amna•M..•... earn ern...,• . ane COMPARABLE PROPERTY PHOTO ADDENDUM Borrower: KRUSE, PAUL File No.: 4463 KRUSE Property Address:4325 WILD MEADOWS DRIVE Case No.: City: MEDINA State: MN Zip: 55340 Lender: ALERUS FINANCIAL COMPARABLE SALE #1 270 LYTHRUM LANE MEDINA, MN 55340 Sale Date: s10/14;c09/14 Sale Price: $ 680,000 COMPARABLE SALE #2 4640 BLUEBILL TR N MEDINA, MN 55340 Sale Date: s08/14;c07/14 Sale Price: S 774,500 COMPARABLE SALE #3 17573 75TH AVE MAPLE GROVE, MN 55311 Sale Date: s05/14;c05/14 Sale Price: $ 747,500 COMPARABLE PROPERTY PHOTO ADDENDUM Borrower: KRUSE, PAUL File No.: 4463 KRUSE Property Address: 4325 WILD MEADOWS DRIVE Case No.: City: MEDINA Stale: MN Zip: 55340 Lender: ALERUS FINANCIAL COMPARABLE SALE #4 4165 WILD MEADOWS DR MEDINA, MN 55340 Sale Dale: s09/14;c09/14 Sale Price: $ 825,000 COMPARABLE SALE #5 4455 BLUEBELL TR S MEDINA, MN 55340 Sale Date: Active Sale Price: $ 790,000 COMPARABLE SALE#6 Sale Date: Sale Price: 5 FLOORPLAN SKE1 CH Borrower: KRUSE, PAUL File NO.: 4463 KRUSE Property Address:4325 WILD MEADOWS DRIVE Case No.: City: MEDINA State: MN Zip: 55340 Lender: ALERUS FINANCIAL ma 19.0' 7.0' v ri INFORMAL DOING KrTCHEN MASTER UMNGROOM BEDROOM c ''' GARAGE MUD ROOM 112 BATH STARS MASTER WI CLOSET DINING ROOM LAUNDRY FOYER MASTERA TH " 10.0 I 7,0• DEN 12 a 15.0' 12.0• l 12.0' 22.a Comments: AREA CALCULATIONS SUMMARY Code Description Size Net Totals LIVING AREA BREAKDOWN Breakdown Subtotals GLA1 First Floor 2234.00 GAR Garage 913.00 TOTAL LIVABLE (rounded) 2234.00 913.00 2234 First Floor 4.5 x 12.0 2.5 x 6.0 2.0 x 19.0 12.0 x 38.0 2.5 x 7.0 0.5 x 2.5 x 2.5 0.5 x 2.5 x 2.5 1.5 x 38.0 15.0 x 34.0 2.5 x 10.0 0.5 x 2.5 x 2.5 0.5 x 2.5 x 2.5 2.5 x 34.0 12.0 x 43.0 11.5 x 34.0 1.5 x 38.0 16 Calculations Total (rounded) 54.00 15.00 36.00 456.00 17.50 3.13 3.13 57.00 510.00 25.00 3.13 3.13 85.00 516.00 391.00 57.00 2234 FLOOD MAP Borrower: KRUSE. PAUL File No.: 4463 KRUSE Property Address:4325 WILD MEADOWS DRIVE Case No.: City: MEDINA Lender: ALERUS FINANCIAL Slate: MN Zip: 55340 Subject 4325 Wild Meadows Dr Medina, MN 55340 FLOOD INFORMATION LEGEND C:ommuni!y: 270171 LC:" FEMA Special Rood Hazard Area rn.7np 27053C0167E Pane!: 0167E �onc X Map D.Ita 09-C2-2004 FIPS: 27053 Sourc•?: FEMA Sky Flood- F koac LOCATION MAP Borrower: KRUSE. PAUL File No.: 4463 KRUSE Property Address:4325 WILD MEADOWS DRIVE Case No.: City: MEDINA Stale: MN Zip: 55340 Lender: ALERUS FINANCIAL ri I J t:., coral . I• r ' - Comparable Sale 2 4040 BLUEBILLTR N MEDINA MN 55340 1.88 miles NW • - Comparable Sale 4 4185 WILD MEADOWS DR .' MEDINA MN 55340 - 0.23 miles SW .. Comparable Sale 6 4455 BLUEBELL TR S - MEDINA MN 55340 :L. 1.84 mks NYt1 Comparabk Sale 1 270 17THRUM LANE ' MEDINA MN 55340 0.28 miles SW 1 .:.r • e: /1.3 1\ 1,d.n<a '_ ' s;ti,,,l.n, r.;l . :4, L/< • %i 'I J 4 [--,- 'I.'1 n� c • - Lt_ij , i.7 —' Comparable Sale 3 17573 75TH AVE 1= ; MAPLE GROVE, MN 55311 3A5 mks NE ii _ IC i IFI J, :r U Subject -. 4325 WILD MEADOWS DRIVE . MEDINA MN 55340 '' - 1.1kr iv' 3t'1.-' .• • ,, ... - .71:•...1,:0:1 /,, fEf'. L:q 1 _ 1:'I � l- •' • Map data 02014 Googk t I i Borrower: KRUSE, PAUL File No.: 4463 KRUSE Properly Address:4325 WILD MEADOWS DRIVE Case No.: City: MEDINA State: MN Zip: 55340 Lender: ALERUS FINANCIAL STATE OF MINNESOTA `• .,. ' ,, DAVID MANDERSON �1. ' 1645IVORY AVE N LAKE ELMO, MN 55042 Department of Commerce The Undersigned COMMISSIONER OF COMMERCE for the State of Minnesota hereby certifies that DAVID M ANDERSON 1645IVORY AVE N LAKE ELMO, MN 55042 has complied with the taws of the Slate of Minnesota and is hereby licensed to transact the business of Resident Appraiser : Certified Residential License Number: 4000737 unless this authority's suspended, revoked. or otherwise legally terminated This license shall be .n effect until August 31, 2016. IN TESTIMONY WHEREOF, 1 have hereunto set my hand this August 26, 2014. / i /� y� COMMISSIONER OF COMMERCE Minnesota Department of Commerce Lcensmg Division 85 70 Place East. Suite 500 St Pout MN 55101 3165 Tri nho-e (51; 539-1590 Finad baensmg carr`leme•,3 s ate mn us Webs'te mrnerce stare inn us Notes: • Continuing Education: 15 hours is 1aQ011,4 III ih:: ti:si'enew&t nettad, whirr' a'o'udes a 7 hour uSP AP :case :50 host; ,s reuvaerl4lr earii subs9rverl renewal pen5d, wht I includes a 7 hou: i NuAP ammo • Appraisors: You ttwut My a iia+rcd Residratia' G:aif�d Res�den:ul, lx ::cnifiacf rerral ru,Nrfira;ion •n ace• t�. am: appr'atLk. fpr rederAt p-:rtaf :ratna pions TralReeS do nM ciiziry. �?• i..ethe- deem., ;de as? lnsit otir gt„,.� :n CS3JittVCC SWIe JtIil JS G.ANDERSON & ASSOCIATES Market Conditions Addendum to the Appraisal Report File No. 4463 KRUSE The purpose of this addendum is to provide the tendeddient with a dear and actuate understanding of the market trends and conditions prevalent in the subject neighborhood This is a required addendum la all appraisal reports with an effective date on a after Apra 1, 2009. Property Address 43251MLD MEADOWS DRIVE Borrower KRUSE. PAUL City MEDINA State MN zocode 55340 Instructions: The appraiser must use the information required on this form as the basis for his/her conclusion, and must provide support for those conclusions, regarding housing vends and overall market conditions as reported in the Neighborhood section of the appraisal report fam The appraiser must fill in all the information to the extent it is avaiable and reliable and must provide analysis as indicated below If any required data is unavailable or is considered unreliable, the appraiser must provide an explanation. It is recognized that not all data sources will be able to provide data fa the shaded areas below; if it is available, however, the appraiser must include the data in the analysis. If data sources provide the required information as an average instead of the median. the appraiser should report the evadable figure and identify is as an average. Sales and listings must be properties that compete with the subject property, determined by applying the criteria that would be used by a prospective buyer of the subied property. The appraiser must explain any anomalies in the data, such as seasonal markets, new construction, foreclosures, etc. Inventory Analysis Prior 7.12 Months Prior 4-6 Months Current -3 Months Overall Trend Taal I of Comparable Sales (Settled) Absorption Rate (Taal Sales/Months) Taal of Comparable Active Listings Months of Housing Supply (Taal listings/Ab.Rate) Median Sale & List Price, DOM. Sale/List % 2 0.33 N/A N/A Prior 7.12 Months 3 1.00 N/A N/A Prior 4 6 Months 1 0.33 3 9.09 Current - 3 Months Increasing Inaeasing Declining Deanin 1 Stable Stable Stable Stabe Overall Trend Declining Declining Increasing lnaeasng n z a 4 U c a C r w Y C L Median Comparable Sale Price Median Comparable Sales Days on Market Medan Comparable List Price Median Comparable Listings Days on Market Median Sale Price as % of list Price Seller -(developer, builder, etc )paid financial assistance prevalent? 655,000 117 N/A N/A 97.90% bO Yes L_ No 765,000 41 N/A N/A 100.00% 680,000 54 771,600 43 97.40% Increasit Declining Increasing Dedining Increasing Declining 25. X, Stabe Stabe Stable Stable Stable Stabe Declining Increasing Dedining Increasing Deciding increasing Explain in detail the serer concessions trends for the past 12 month (e.g.. seller contributions increased from 3% to 5%. increasing use of buydown , dosing costs. coed fees, options, etc.). SELLER CONCESSIONS WERE MORE PREVELANT IN THE MARKET PLACE 7 -12 MONTHS AGO. THEY ARE ALSO SEEN MORE FREQUENTLY IN LENDER/CORP OWNED SALES. THE ARE PRESENTLY ON A MORE LIMITED SCALE AND TEND TO BE APPROX. 3% Are foreclosure sales (REO sales) a factor in the market? ® Yes U No If yes, explain (mcludng the uends in listings and sales of foreclosed properties). THESE SALES HAVE TYPICALLY BEEN DISCOUNTED 25-35%. THESE SALES APPEARED TO BE A HIGHER PERCENTAGE OF THE REPORTED SALES 7-12 MONTHS AGO. THESE SALES ARE STILL PRESENT IN THE CURRENT MARKET PLACE. Cite data sources for above information. EXAMINATION OF MLS DATA, LISTINGS,PENDING SALES & SALES WERE CONSIDERED IN THIS ANALYSIS. Summarize the above information as support for your conclusions in the Neighborhood section of the appraisal report form. If you used any additional information, such as an analysis of pending sales and/or expired and withdrawn listings, to formtrate your conclusions. provide both an explanation and support for your conclusion. SALES PRICES HAVE VARIED OVER THE PAST 12 MONTHS BASED ON LIMITED SALES & INVENTORY IN THIS UPPER END OF THE MARKET SEGMENT. ACTIVE LISTINGS REFLECT SIMILAR PRICING TO THAT OF SALES FROM 4-6 MONTHS AGO. OVERALL MARKET IS CONSIDERED STABLE. If the subject is a unit in a condominium or cooperauve project . complete the following: Subject Project Data Pnor7.12Months Prior4.6Months Current - 3 Months Project Name Overall Trend Total r of Comparable Sales (Settled) Absorption Rate (Taal Sales/Months) Taal r of Active Comparable Listings Month of Unit Supply (Taal Listings/Ab. Rate) Are foreclosure sales (REO sales) a factor in the project? Increasing Stable Inaeasing ) Stable Declining Stable Declining Stable Decining Declining Increasing Increasing Yes I I No If es. indicate the number of REO listings and explain the trends in stings and sales of foreclosed properties. Summarize the above trends and address the impact on the subject unit and project. APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature .a-_.— Signature Name DAVID M ANDERSON Name Company Name G. ANDERSON & ASSOCIATES INC. Company Name Company Address 1645 IVORY AVE NORTH Company Address LAKE ELMO, MN 55042 State License/Certification #4000737 State MN State License/Certification # State Email Address DMAGAAIACOMCAST.NET Email Address I tcdac roac ram 11 /hrrh 7009 Prtnno u..+gan Wiwrr 800I14 9171 wver,,r.drmr farm Mx icon a01W' 11.9,rh 1009 Partin Itrv; 2COreCa:r9 . LI 91 SI tI £I ZI II OI 6 8 L 47( Q0 _. l Z. - EZ -g/ f �9 7�`.i-7-e/,' �/ -711) -L/1/0 ��Pi� /..,/1 o (Jed - 9 44L-M 1fieY 2, (1 S t 1 o OE t �'e,F,�) l hZ 9,9OL- hod-i,I9 '4'(`'d ci\-' . • Nebl " , a.w4s"°1 ,»1 £ (a oQ cp + - z - 'i:3\.t- _.S.,z _Zz-hsZ- t9 -aniaa7��" 26E1 1dm NotitdaL� z c,''' °17.00 Ah. ez-241 -la e.,S6-1Z2-oL3 )-v- 1 s"/"11/ Kid -5'7-1 --Ds,)...,�( �� /`� ' � 1 '.LddN #QId 3I\I0Hd 3000 dIZ ?8 I332I.1S 31(W I 30Vd ) ,L33HS PII-I�iOIS ON/II331N M31A31I JO CIIIVO3 'NFU HSV3'Id I IIIId 3SVTId LI 91 SI PI £I ZI II OI 6 14-U 8 )4141 —� 3(.41 L G' 000 0---5 7 / —5 I q04)/ k-g-74 n ..ir771-7 P .5 ° ) .)) I.- 7 , ' G TIT t,-- -1-.) c) `� '9 � �� s ' g_� / d b -17 loici fi -#� F aZ1 � (V>- � (� a P2 livic ''f(p ) v'tii fW -5 al. � of a � av o ,s 12ooc)---Z 1- 2.-q ) ) -0)0 1Q*i-2i?-2-�,,L. bi -T-e.___ Qo-LP M°' Z p4nDN o ag fr,,,m 11 iig Z t? 7'- F 1 i -F� durzi)ga5 , -0 kilk t '.LddH #CIId 3rIOHd ' g000 dIZ 79 IgHI .LS dLANN' �S 10Z ` 2 1,33HS ON_LiddW MdIAMI AO a2IVO8 INIIld HSdd"Id J I�II2Id dSVIld Property Information Name: Paul & Diane Kruse Address: 4325 Wild Meadows Dr PID#: 01-119-23-44-0026 Land Size: Ground Floor Area: Total Above Ground Area: Comment: Use: Single family Residential 2014 2015 Assessor Recommendation Council Action Land. $170,000 $170,000 No Change Building $630,000 $630,000 Total $800,000 $800,000 Comments: Property owner has a refinance appraisal for $750,000. Refinance appraisals are generally conservative and do not represent current market. ADDRESS: 4325 - WILD MEADOWS DR PID #: (80) 01-118-23-44-0026 Sale Date: 08/2003 Sale Price: $156,000 2015 EMV: Sale Date: Sale Price: Style and Story Height: Rambler Age: 2003 Bedrooms: 3 Ground Floor Area: 2,192 Sq.Ft. Above Grade Area: 2,192 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 80% Fireplaces: 2 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 0 3/4: 2 1/2: 1 Porches- Glazed: 0 Screened: 0 Open: 28 Deck: 0 Garage #1: 914 Type: Attached Garage #2: 0 Type: Lot Size: 23,404 Sq.Ft. 0.54 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: Property Information Name: Dean Johnson Address: 4632 Co. Rd. No. 19 PID#: 06-118-23-12-0004 Land Size: Ground Floor Area: Total Above Ground Area: Comment: Use: Commercial/ Agricultural 2014 2015 Assessor Recommendation Council Action Land. Farm $486,000 $486,000 $486,000 Ind $75,000 $75,000 $75,000 Building $0 $0 $0 $400,000 $400,000 $400,000 S - 419/s0o Total Farm $486,000 $486,000 $_48866-0-00 Ind $475,000 $475,000 4"/5,0 h \ Comments: Recommend no change. i Name: Pegasus Land Solutions Dean Johnson Address: 4700 CO RD NO 19 PID#: 06-118-23-12-0004 Land Size: 18.9 Ac: Ground Floor Area: 5,580 sq. ft. Total Above Ground Area: 9,414 sq. ft. Comment: Use. Commercial/Excess Farm Land 2013 2014 Assessor Recommendation Council Action Land. Farm $690,000 $486,000 $ Ind. $145,000 $75,000 Building $0 $0 $ Ind $530,000 $400,000 Total Farm $690,000 $486,000 $NO CHANGE Ind $675,000 $475,000 Comments: The grand total for the property on January 2, 2014 is $961,000. Property consists of 18.9 acres of farm land with a 9,414 sq. ft. industrial building on the site. Property sold on a buy back agreement with bank on 12/18/2013 for $815,000. This sale is not considered an arm's length transaction. ay sWn�ti itV—Mono0m auua3:1t40,ti ";.:. dieH +yT�[ dull wpd y»eag peouenpy aeleeel5l.'., Puebel�. y- -• Pa-0sgie "C'" gsgyisuanol bs genZ,8 sere L6'8l :BON leafed o 4810 Pa9�aiann ;so Jags sce aslp loov3s »clp.xe LS£55�NW:Oi1a1O1, el ON ON 00 00L4 i 011 SNOLLMOS amyl sasysad Husg leydsO uogl dew ets uo sseippe ue aide pqd '17000Z1-CZ9 1-90 :Jaw,* LS£SS N1N `au{PeIN R1..Oeu ro4 C10.114) Sx. syinsaN &wolla/A. ' 4/6/15 RE: Price opinion / evaluation of the property located at 4700 CR 19 in Medina MN. Mr. Dean Johnson, Based on our discussion recently and evaluating your property at the location above to establish a realistic value based on comparable and the current market trends here are my findings as a full time real estate agent of 15 years specializing in your geographical area. Let me know if you have any further questions or comments. Derrick Monroe Lakes Area Realty & the Derrick Monroe Group 612-282-7653 Derrick@DerrickMonroe.com One property that has a fairly recent sale is located just 5 miles or so to the west of you. This property lays out as follows: • 50,000 sq, ft. (vs. your 9,153 sq. ft.) • Hwy 55 full frontage (vs. yours being 1/8 mile or so off Hwy 55) • 8.33 acres (vs. your 18.92 acres) • The comparable property is city sewer and water (vs. your well and septic) • The comparable would allow much more growth of course for rental opportunity • The comparable sold in 2014 for $1.5 million • The address for the comparable is located off Hwy 55 & Electric Drive on the westside of Rockford also known as the "Rockford Mall" • Attached is the overview / map Another property that has recently sold and lays'% mile south of you, approximately is 50 Medina St. This property lays out as follows: • 2.02 acres • Hwy 19 frontage —same as yours • Building size approx. 18,000 sq. ft. • Sold in 2014 for $975,000 • Attached is the overview/map Another property sold approx. 3 miles to the East of you is unassigned Hwy 55—see attachment and ML514 4356102 • The property was directly on Hwy 55 vs. your location not on 55 • The property was similar in acreage being 17.93 acres • The property held a storage facility that was/is 80% rented and generating income of Sumo per year in rents • Sold for $300,000 Another property sold approx. 4 miles to the east of you —see attachment and MLSii 4323328 •• This property has direct Hwy 55 frontage • This property is on 3.28 acres • The building size of this property is 5,048 sq. ft. • This property sold for $304,000 Another property sold approx. 5 miles to the East of you is located at 3535 Kilkenney Drive Medina —see attachment and MLS# 3921165 • This property has a 6,120 sq. ft, building on it • 0,77 acre lot • Sold for $320,000 in 2012 Based on the current market conditions, the properties listed above and looking at the activity of currently listed commercial buildings I would suggest that if you were to list this property today the list price and value would be in the range of $725,0 0to 5775,000. Lc" c9 Jai NorthstarMLS Matrix http://matrix.northstarmis, com/Matrix/Printing/PrintOptions, aspx7... Commercial Customer Full Customer Full Display, Commercial/Mixed Use, MLS 4: 4356102 unassigned Highway 55,, Medina, MN 55340 Status: saki List Price: $280,000 Sold Plite: $300,000 ' Original List. Price: $280,000 Styi6f Current Use: Const Status: Total Units: Foundation Size: Building FinSo Ftl Year Built: Acres: Lot Dimensions: Yearly/Seasonal: Days On Market: Off Market Date: Projected Close Date Date Closed; Other Other Previously Owned 40 10,000 10,000 /225 17e i_ irregular Yearly 35 05/21/2013 . 06/28/2013 06/28/2013,- CD_Olt 35 :.:.salt GorPxa-nor. tx bem a 2012, NCO:* Map Page: 89 Directions: Highway 55 To Rolling Hills Road Map Coord C1 TAX INFORMATION Property ID: 04111323220001 Tax Year: 2012 Tax Amt: $7,259 Assess Bal: Tax w/assess: $7,259 Assess Pend: No Homestead: No 2�S100Xi '44L. `l General Property Information Legal Description; Unplatted County: Hennepin School District: 879 - Oelano879 - Delano Complex/Hey/Sub: Lot Description: Road Frontage: Zoning: Business/6ommercial Owner Occupied: Accessibility: None Public Remarks; Nearly no cost maintenance 40 unit storage facility: BO% rented. Building in good shape. Future redevelopment opportunity or current expansion, treatcash flow, little maintenance, virtually no overhead. Owner Is an Agent?: No In Foreclosure?:-:. - - No, Lender Owned?.:. No Potentlal Short Sale?: No - Structure Information Heat: .None exterior: Metal Fuel: Other Fencing: Air Conch Roof: Garage; 40 Water: None Oth Prkg: 10 Sewer: None Parking Char: Other Utilities: Miscellaneous: Sale Includes: Business, Building, Land, Leases Appliances: No. of Ranges: No, of Refrig: Basement: Pool: Amenities -Unit: 1 of F 4!8/2015 12A7 PM NorthstarMLS Matrix h ttp://matrixmorthstarmis.com/Matrix/Printing/PrintOpti ons.aspx?... Customer Full Display, Commercial/Mixed Use, MLS A; 4323328 • 2352 State Highway 55 Hwy, Medina, MN 55340 Status: Sold USt Price: $329,900 Solcl Price: $304,000 Style: Current Use: Const Status: Total Units: Foundation Size: Building FinSon: Year Built: Acres: Lot Dimensions: Yearly/Seasonal: Days On Market: Off Market Date: 11-Fr Business Opportunity Hotel/Motel Previously Owned 6 3,448 5,048 1955 3.28 IRREGULAR yearly 299 10/08/2013 Projected Close Date: 11/05/2013 Date Closed: 11/08/2013 CODM: 694 =Pioneer hail Original List Price: $339,900 Chippewa RI a?2.51!ikrtsol, 6orwebbr. Inn{I SSMS N4YV. Map Page: 89 Map Coord: 01 Directions: 4 Mileswest Of Hwy 494 On Hwy 55. Property On North Side. Entrance On Chippewa TAX INFORMATION Property ID: - - 0311823320006 Tax Year: 2012 Tax Amt: $6,412 Assess Bal: $ Tax w/assess: $6,412 Assess Pend: No Homestead: yes General Property Information Legal Description: Lot 000 Block 000 Unptatted 03 118 23 That Part Of The W 260 Ft Of The NW 1/4 Of The:SW 1/4 Sec 3 T 118 R 23 Lying Nly Of Hwy Ex Road County: Hennepin - School District: 284- Wayzata284- Wayzata Complex/Dev/Sub: Lat Description: Road Frontage: Zoning: Accessibility: Publir Remarks: -Owner Is an Agent?: In foreclosure?: Irregular. Lot, Tree Coverage - Medium City, US Highway Business/Commercial owner Occupied: Y None Excellent Medina Location: Hotel with frontage on Hwy55. Five units plus three -bedroom home / office.. Huge. .garage with 3/4 bath and office perfect -for separate business or additional revenue, Over three acresof land included. No No Lender Owned?: No Potential Short Sale?, No Structure Information Heat Forced Air Fuel: Natural Gas Air Conch Central Garage: 3 Oth Prkg: 16 Parking Char: Utilities: Miscellaneous: Sale Includes: Appliances: No. of Ranges: No. of Refrlg: Basement: Pool: Shared Rooms: Other Amenities -Unite Exterior: Fencing: Roof: Water: Sewer: Detached Garage Stucco None Asphalt Shingles, Pitched Well City Sewer/Connected 220 Volt, Out Buildings, Single Phase Business, Building Range, Microwave, Exhaust Fan/Hood, Refrigerator Five Five Walkout, Full 3 of 6 4/8/2015 12:47 PM NortlistarMLS Matrix hdp://matrix,Rorthstann Is.com/Matrix/Printing/PrintOptions.aspx?... 3535 Killcenney Ln, Medina, MN 55340 Status: Sold List Price: $350,000 Sold Price: S320,000 Style: Current Use: Coast Status: Total Units: Foundation Size: Building FinSgit: Year Built: Acres: Lot Dimensions: Yearly/Seasonal: Days On Market: Off Market Date: Projected Close Date: Date Closed: Industrial/Warehouse Warehouse Previously Owned. 1 6,120 _ 6,120 /986 0,77 IRREGULAR Yearly 904 10/01/2012 10/23/2012 10/24/2012 D4Dhli 904 Map Page: 90 Directions: 494 To Hwy 55 West To Pinto, Left To Hamel Rd, Left To Killcenney Ln Customer. Full Display, Commercial/Mixed Use, MLS 0: 3921165 Original List Price: $475,000 3:!' a>ei; Map Coard: A2 TAX INFORMATION Property ID: 1211823320030 Tax Year: 20/2 Tax AmC $15,454 Assess eel: $ Tax w/assess: $15,454 Assess Pend: Yes Homestead: No General Property Information -----'— Legal Description: Lot 000 Block 002 Medina Industrial Addn Lots 7 And 8 County: Hennepin School District: 294-Wayzata294 - Wayzata Complex/Dev/Sub: Lot Description, Road Frontage: Zoning: Business/Commercial Owner Occupied: Accessibility: Other Public Remarks: 1986 built block building set up for single or multi -tenant office/shop & warehouse, Well located off Hwy-55 west of Plymouth on the corner of Hamel Rd & Nflltenney. Sale subject to bank approval. Owner Is an Agent?: N0 In Foreclosure?-_ No Lender Owned?; No Potential Short Sale?: No• - _ . Structure Information - - - --- Heat: Other Exterior: Other Fuel: Natural Gas Fencing: Air Conti: -Roof: Garage: Water: City Water/Connected Oth Prkg: 0 Sewer: City Sewer/Connected Parking Char: Uncovored/Open, Driveway - Asphalt, Unassigned Utilities: Heating Common, Electric Common, Hot Water Common Miscellaneous: Sale Includes: Building, Land Appliances: No. of Ranges: No. of Refng: Basement: Pool: Amenities -Unit: Units No, of Efficiencies: No. of 1 Bedroom Units: No, of 2 Bedroom Units: No. of 1 Room Units: No, Of 2 Room WIZ: No. of 3 Room Units: No. of 5 Room Units: No. of 6 Roam Units: No. of 7 Room Units: 5of6 4/8 printdetails.jsp Page 1 of 2 Parcel Data for Taxes Payable 2015 Property ID: 04-118-23-22-0001 Address: 4790 ROLLING HILLS RD Municipality: MEDINA School Dist: 879 Construction year: 1995 Watershed: 0 Approx. Parcel Size: IRREGULAR Sewer Dist: Owner Name: HVVY 55 RENTAL PORT STOR LLC Taxpayer Name HVVY 55 RENTAL PORT STOR LLC & Address: 225 HVVY 55 MEDINA MN 55340 Sale Information Sales prices are reported as listed on the Certificate of Real Estate Value and are not warranted to represent arms -length transactions. Sale Date: Sale Price: Transaction Type: June, 2013 $300,000 Probate Deed Tax Parcel Description The following is the County Auditor's description of this tax parcel. It may not be the legal description on the most recent conveyance document recording ownership. Please refer to the legal description of this property on the public record when preparing legal documents for recording Addition Name: Lot: Block: First Line Metes & Bounds: Full Metes 8, Bounds: Abstract or Torrens: UNPLATTED 04 118 23 COM AT NW COR OF GOVT LOT 1 TH E Note: To read full tax parcel description, click here. ABSTRACT Value and Tax Summary for Taxes Payable 2015 Values Established by Assessor as of January 2, 2014 Estimated Market Value: Taxable Market Value: Total Improvement Amount: Total Net Tax: ) Hennepin County $1,545.50 $303,000 $303,000 $16,000 $9,755.72 Expend for detail ) Hennepin County Regional Rail Authority $60.52 ) City of Medina $785.34 State General Tax $2,699.60 ) School District: Voter Approved Levies $596.42 ) School District: Other Local Levies $655.08 ) Metropolitan Special Taxing District Tax $49.39 ) Other Special Taxing Districts $165.32 Fiscal Disparity $3,198.55 Total Special Assessments: Solid Waste Fee: printdetails.jsp Page 2 of 2 Total Tax: $9,755.72 Property Information Detail for Taxes Payable 2015 Values Established by Assessor as of January 2, 2014 Values: 1 2 Land Market $235,000 Building Market $68,000 Machinery Market Total Market: $303,000 Qualifying Improvements Veterans Exclusion Homestead Market Value Exclusion Classifications: 1 2 Property Type COMMERCIAL COMMERCIAL PREFERRED PREFERRED Homestead Status NON -HOMESTEAD NON -HOMESTEAD Relative Homestead Agricultural Exempt Status EXEMPT Property Information Name: Bradley S and Linda J Moen Address: 625 Navajo Road PID#: 13-118-23-23-0002 Land Size: 378943 SQFT Ground Floor Area: 2583 SQFT Total Above Ground Area: 4590 SQFT Comment• Use: Single Family 2014 2015 Assessor Recommendation Council Action Land. $ 229,000 $238,000 S 238,000 Building $ 863,000 $863,000 $ 660,000 Total $1,092,000 $1,100,000 $ 898,000 Comments: Extremely Dated House with much wall paper. ADDRESS: 625 - NAVAJO RD PID #: (80) 13-118-23-23-0002 Sale Date: 0/0 Sale Price: $0 Sale Date: Sale Price: 2015 EMV: Style and Story Height: Two Story Age: 1991 Bedrooms: 5 Ground Floor Area: 2,583 Sq.Ft. Above Grade Area: 4,590 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 70% Fireplaces: 4 Central Air Conditioning: Yes Baths - Deluxe: 1 Full: 1 3/4: 3 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 61 Deck: 238 Garage #1: 1,060 Type: Attached Garage #2: 0 Type: Lot Size: 378,943 Sq.Ft. 8.70 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: Property Information Name: Ferenc To & Christina Wolf Address: 1092 Oak Circle PID#: 23-118-23-42-0011 Land Size: 50,781 sq. ft. Ground Floor Area: 1201 sq. ft. Total Above Ground Area: 1201 sq. ft. Comment: Use: Single family residential 2014 2015 Assessor Recommendation Council Action Land. $113,000 $121,000 $121,000 Building $188,000 $188,000 $188,000 Total $301,000 $309,000 $309,000 Icif Comments: Property has extensive updating and is in better condition than most of neighboring properties. ADDRESS: 1082 - OAK CIR PID #: (80) 23-118-23-42-0011 Sale Date: 01/2012 Sale Price: $273,500 2015 EMV: Sale Date: Sale Price: Style and Story Height: Rambler Age: 1967 Bedrooms: 3 Ground Floor Area: 1,201 Sq.Ft. Above Grade Area: 1,201 Sq.Ft. Bsmt. Area: 90% Finished Bsmt. Area: 60% Fireplaces: 1 Central Air Conditioning: Yes Baths - Deluxe: 0 Full: 1 3/4: 1 1/2: 0 Porches - Glazed: 0 Screened: 0 Open: 108 Deck: 179 Garage #1: 440 Type: Attached Garage #2: 0 Type: Lot Size: 60,781 Sq.Ft. 1.17 Acres Lake/Bay/Rating: 00 - 00 - 00 Effective Frontage: 0 Comments: A7y