APPRAISAL OF REAL PROPERTY - Mill Road Propertymillroadproperty.com/.../uploads/2016/12/Mill-Road-Appraisal.pdf · APPRAISAL OF REAL PROPERTY 1142 Mill Rd ... Form GA1V — "WinTOTAL"

LOCATED AT

FOR

OPINION OF VALUE

AS OF

BY

APPRAISAL OF REAL PROPERTY

1142 Mill RdGreenleaf, WI 54126

Prt of NW1/4 NW Frac 1/4 & Prt of SW 1/4 NW Frac 1/4 Sec 18 T21N R20E Desc in 1666521 Ex Rd

Andrew S. & Karen L Hoffmann

410,000.00

05/09/2012

James E Van VonderenCity Wide Appraisal

P.O. Box 432De Pere, WI 54115

(920) [email protected]

Form GA1V — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

APPRAISAL OF REAL PROPERTY


Prt of NW1/4 NW Frac 1/4 & Prt of SW 1/4 NW Frac 1/4 Sec 18 T21N R20E Desc in 1666521 Ex Rd


410,000.00

05/09/2012


P.O. Box 432De Pere, WI 54115

(920) [email protected]

Form GA1V — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

LOCATED AT

FOR

OPINION OF VALUE

AS OF

BY

Page #1Main File No. MILL1142

18

File No.Property AddressCity County State Zip Code

TABLE OF CONTENTS

MILL1142Andrew S. & Karen L Hoffmann1142 Mill RdGreenleaf Brown WI 54126Andrew S. & Karen L Hoffmann

Cover Page ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Letter of Transmittal ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................USPAP Identification ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................GP Land ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Additional Listings 1-3 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Subject Photos ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Photograph Addendum ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Comparable Photos 1-3 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Listings Photos 1-3 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Plat map ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Aerial Plat Map ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Appraiser Certification ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

1234678910111213

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

Borrower/Client

Lender

MILL1142Andrew S. & Karen L Hoffmann1142 Mill RdGreenleaf Brown WI 54126Andrew S. & Karen L Hoffmann

Cover Page ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Letter of Transmittal ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................USPAP Identification ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................GP Land ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Additional Listings 1-3 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Subject Photos ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Photograph Addendum ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Comparable Photos 1-3 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Listings Photos 1-3 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Plat map ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Aerial Plat Map ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Appraiser Certification ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

1234678910111213

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

Borrower/Client

Lender


TABLE OF CONTENTS

19

City Wide AppraisalP.O. Box 432De Pere, WI 54115(920) 606-2841

May 17, 2012


Re: Property: 1142 Mill RdGreenleaf, WI 54126

Borrower: Andrew S. & Karen L HoffmannFile No.: MILL1142

Opinion of Value: $ 410,000.00Effective Date: 05/09/2012

In accordance with your request, we have appraised the above referenced property. The report of that appraisal isattached.

The purpose of the appraisal is to develop an opinion of market value for the property described in this appraisal report,as improved, in unencumbered fee simple title of ownership.

This report is based on a physical analysis of the site and improvements, a locational analysis of the neighborhood andcity, and an economic analysis of the market for properties such as the subject. The appraisal was developed and thereport was prepared in accordance with the Uniform Standards of Professional Appraisal Practice.

The opinion of value reported above is as of the stated effective date and is contingent upon the certification and limitingconditions attached.

It has been a pleasure to assist you. Please do not hesitate to contact me or any of my staff if we can be of additionalservice to you.

Sincerely,

James E Van VonderenCertified Residential AppraiserLicense or Certification #: 1768-9State: WI Expires: 12/14/[email protected]

City Wide AppraisalP.O. Box 432De Pere, WI 54115(920) 606-2841

May 17, 2012


Re: Property: 1142 Mill RdGreenleaf, WI 54126

Borrower: Andrew S. & Karen L HoffmannFile No.: MILL1142

Opinion of Value: $ 410,000.00Effective Date: 05/09/2012

In accordance with your request, we have appraised the above referenced property. The report of that appraisal isattached.

The purpose of the appraisal is to develop an opinion of market value for the property described in this appraisal report,as improved, in unencumbered fee simple title of ownership.

This report is based on a physical analysis of the site and improvements, a locational analysis of the neighborhood andcity, and an economic analysis of the market for properties such as the subject. The appraisal was developed and thereport was prepared in accordance with the Uniform Standards of Professional Appraisal Practice.

The opinion of value reported above is as of the stated effective date and is contingent upon the certification and limitingconditions attached.

It has been a pleasure to assist you. Please do not hesitate to contact me or any of my staff if we can be of additionalservice to you.

Sincerely,

James E Van VonderenCertified Residential AppraiserLicense or Certification #: 1768-9State: WI Expires: 12/14/[email protected]


20


This Appraisal Report is one of the following types:

Self Contained (A written report prepared under Standards Rule , pursuant to the Scope of Work, as disclosed elsewhere in this report.)

Summary (A written report prepared under Standards Rule , pursuant to the Scope of Work, as disclosed elsewhere in this report.)

Restricted Use (A written report prepared under Standards Rule , pursuant to the Scope of Work, as disclosed elsewhere in this report,restricted to the stated intended use by the specified client or intended user.)

Reasonable Exposure TimeMy Opinion of Reasonable Exposure Time for the subject property at the market value stated in this report is:

APPRAISER:

Signature:Name:

Date Signed:State Certification #:or State License #:State:Expiration Date of Certification or License:

Effective Date of Appraisal:

SUPERVISORY APPRAISER (only if required):

Signature:

Name:

Date Signed:State Certification #:or State License #:State:Expiration Date of Certification or License:Supervisory Appraiser inspection of Subject Property:

Did Not Exterior-only from street Interior and Exterior

Andrew S. & Karen L Hoffmann MILL11421142 Mill RdGreenleaf Brown WI 54126Andrew S. & Karen L Hoffmann

APPRAISAL AND REPORT IDENTIFICATION

2-2(a)

2-2(b)

2-2(c)

Comments on Standards Rule 2-3I certify that, to the best of my knowledge and belief:— The statements of fact contained in this report are true and correct.— The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, impartial, and unbiasedprofessional analyses, opinions, and conclusions.— Unless otherwise indicated, I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the partiesinvolved.— Unless otherwise indicated, 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-yearperiod immediately preceding acceptance of this assignment.— I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.— My engagement in this assignment was not contingent upon developing or reporting predetermined results.— My 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 theclient, 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.— My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice thatwere in effect at the time this report was prepared.— Unless otherwise indicated, I have made a personal inspection of the property that is the subject of this report.— Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification (if there are exceptions, the name of eachindividual providing significant real property appraisal assistance is stated elsewhere in this report).

Exposure time isestimated at 400 days, It is how long a property would require exposure in order to find a buyer, under either typical circumstances.

Comments on Appraisal and Report IdentificationNote any USPAP-related issues requiring disclosure and any state mandated requirements:Standards Rule 1-4 ( c ) The income approach was not developed, as it was not considered applicable due to the fact the property is owneroccupied.

USPAP 3 Year Requirement: No the appraiser has not performed any services on or for the subject property in the previous 3 years.

James E Van VonderenDesignation: Certified Residential Appraiser

May 17, 20121768-9

WI12/14/2013

05/09/2012

Designation:

Form ID12E — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Borrower/Client

Lender

Andrew S. & Karen L Hoffmann MILL11421142 Mill RdGreenleaf Brown WI 54126Andrew S. & Karen L Hoffmann

APPRAISAL AND REPORT IDENTIFICATION

2-2(a)

2-2(b)

2-2(c)

Comments on Standards Rule 2-3I certify that, to the best of my knowledge and belief:— The statements of fact contained in this report are true and correct.— The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, impartial, and unbiasedprofessional analyses, opinions, and conclusions.— Unless otherwise indicated, I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the partiesinvolved.— Unless otherwise indicated, 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-yearperiod immediately preceding acceptance of this assignment.— I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.— My engagement in this assignment was not contingent upon developing or reporting predetermined results.— My 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 theclient, 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.— My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice thatwere in effect at the time this report was prepared.— Unless otherwise indicated, I have made a personal inspection of the property that is the subject of this report.— Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification (if there are exceptions, the name of eachindividual providing significant real property appraisal assistance is stated elsewhere in this report).

Exposure time isestimated at 400 days, It is how long a property would require exposure in order to find a buyer, under either typical circumstances.

Comments on Appraisal and Report IdentificationNote any USPAP-related issues requiring disclosure and any state mandated requirements:Standards Rule 1-4 ( c ) The income approach was not developed, as it was not considered applicable due to the fact the property is owneroccupied.

USPAP 3 Year Requirement: No the appraiser has not performed any services on or for the subject property in the previous 3 years.

James E Van VonderenDesignation: Certified Residential Appraiser

May 17, 20121768-9

WI12/14/2013

05/09/2012

Designation:

Form ID12E — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Borrower/Client

Lender


This Appraisal Report is one of the following types:

Self Contained (A written report prepared under Standards Rule , pursuant to the Scope of Work, as disclosed elsewhere in this report.)

Summary (A written report prepared under Standards Rule , pursuant to the Scope of Work, as disclosed elsewhere in this report.)

Restricted Use (A written report prepared under Standards Rule , pursuant to the Scope of Work, as disclosed elsewhere in this report,restricted to the stated intended use by the specified client or intended user.)

Reasonable Exposure TimeMy Opinion of Reasonable Exposure Time for the subject property at the market value stated in this report is:

APPRAISER:

Signature:Name:

Date Signed:State Certification #:or State License #:State:Expiration Date of Certification or License:

Effective Date of Appraisal:

SUPERVISORY APPRAISER (only if required):

Signature:

Name:

Date Signed:State Certification #:or State License #:State:Expiration Date of Certification or License:Supervisory Appraiser inspection of Subject Property:

Did Not Exterior-only from street Interior and Exterior


21

File No.:SU

BJE

CT

Property Address: City: State: Zip Code:County: Legal Description:

Assessor's Parcel #: Tax Year: R.E. Taxes: $ Special Assessments: $Market Area Name: Map Reference: Census Tract:Current Owner of Record: Borrower (if applicable):Project Type (if applicable): PUD De Minimis PUD Other (describe) HOA: $ per year per monthAre there any existing improvements to the property? No Yes If Yes, indicate current occupancy: Owner Tenant Vacant Not habitableIf Yes, give a brief description:

ASS

IGN

MEN

T

The purpose of this appraisal is to develop an opinion of: Market Value (as defined), or other type of value (describe)This report reflects the following value (if not Current, see comments): Current (the Inspection Date is the Effective Date) Retrospective ProspectiveProperty Rights Appraised: Fee Simple Leasehold Leased Fee Other (describe)Intended Use:

Intended User(s) (by name or type):

Client: Address:Appraiser: Address:

MA

RK

ET A

REA

DES

CR

IPTI

ON

CharacteristicsLocation: Urban Suburban RuralBuilt up: Over 75% 25-75% Under 25%Growth rate: Rapid Stable SlowProperty values: Increasing Stable DecliningDemand/supply: Shortage In Balance Over SupplyMarketing time: Under 3 Mos. 3-6 Mos. Over 6 Mos.

PredominantOccupancy

OwnerTenantVacant (0-5%)Vacant (>5%)

PRICE$(000)

LowHighPred

AGE(yrs)

Present Land UseOne-Unit %2-4 Unit %Multi-Unit %Comm'l %

%%

Change in Land UseNot LikelyLikely * In Process *

* To:

Factors Affecting MarketabilityGood Average Fair Poor N/AItem

Employment StabilityConvenience to EmploymentConvenience to ShoppingConvenience to SchoolsAdequacy of Public TransportationRecreational Facilities

Item Good Average Fair Poor N/AAdequacy of UtilitiesProperty CompatibilityProtection from Detrimental ConditionsPolice and Fire ProtectionGeneral Appearance of PropertiesAppeal to Market

Market Area Comments:

SITE

DES

CR

IPTI

ON

Dimensions: Site Area:Zoning Classification: Description:

Do present improvements comply with existing zoning requirements? Yes No No ImprovementsUses allowed under current zoning:

Are CC&Rs applicable? Yes No Unknown Have the documents been reviewed? Yes No Ground Rent (if applicable) $ /Comments:Highest & Best Use as improved: Present use, or Other use (explain)

Actual Use as of Effective Date: Use as appraised in this report:Summary of Highest & Best Use:

Utilities Public Other Provider/Description Off-site Improvements Type Public PrivateElectricityGasWaterSanitary SewerStorm SewerTelephoneMultimedia

StreetWidthSurface

Curb/GutterSidewalkStreet LightsAlley

FrontageTopographySizeShapeDrainageView

Other site elements: Inside Lot Corner Lot Cul de Sac Underground Utilities Other (describe)FEMA Spec'l Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map DateSite Comments:

Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.3/2007

Creekview Appraisal (920) 362-1920MILL1142MILL1142LAND APPRAISAL SUMMARY REPORT

1142 Mill Rd Greenleaf WI 54126Brown Prt of NW1/4 NW Frac 1/4 & Prt of SW 1/4 NW Frac 1/4 Sec 18 T21N R20E

Desc in 1666521 Ex Rd

HL-356 2011 851.20 0Town of Holland 24580 55009-0215.00

Andrew S. & Karen L. Hoffmann Andrew S. & Karen L Hoffmann

The subject property is 44.30 acre parcel which has approximately 4 acres of level non wooded area for aresidential building site and and 39.70 acres of heavily wooded forest land with mature trees and a small river.

To establish a opinion of market value for parcel HL-356

Andrew S. & Karen L. Hoffmann

Andrew S. & Karen L. Hoffmann 316 Sheldon Court, Green Bay, WI 54313James E Van Vonderen P.O. Box 432, De Pere, WI 54115

955

One-Unit Housing

30400150

015050+

40005

Agricultural 55

Current interest rates have they have been in the last few years. The general economy has slowed, there is still growthin the residential housing market. Local MLS statistics reflect a typical marketing time for this particular area to be 400 or more days.Agricultural properties in the subjects area has shown a increase in sale price in the past 2 years due to larger farms purchasing more acreagefor cattle feed and acreage to dispose of cattle waste. Recreational properties similar to the subject property with abundant wildlife and riversare not listed on the open market often, but when sold do sell for higher than normal price per acre due to limited parcels of properties whichare wooded and with a river.

Irregular 44.303 AcresAgricultural Agricultural Wooded

Agricultural/Residential

Recreational Wooded ( Vacant Land ) Recreational Wooded ( Vacant Land )At this time the highest and best use is agricultural/residential.

PublicLiquid PropanePrivate WellPrivate SystemDitchAvailableAvailable

AsphaltAdequateAsphalt

N/AN/AN/AN/A

496.23'Level44.303 AcresBasically RectangularAppears AdequateResid/Fields

A 55009C0345F 08/18/2009The property is a 44.303 acre parcel with adequate space and ground contours for a residential building site. Brown County

has purchased and developed the adjoining land to the East of the subject property for a future land fill site. Per conservation with BrownCounty officials the land fill will not be operational until the year 2020 or the year 2022. The subject property also borders adjacent farm land.

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

Creekview Appraisal (920) 362-1920MILL1142MILL1142LAND APPRAISAL SUMMARY REPORT

1142 Mill Rd Greenleaf WI 54126Brown Prt of NW1/4 NW Frac 1/4 & Prt of SW 1/4 NW Frac 1/4 Sec 18 T21N R20E

Desc in 1666521 Ex Rd

HL-356 2011 851.20 0Town of Holland 24580 55009-0215.00

Andrew S. & Karen L. Hoffmann Andrew S. & Karen L Hoffmann

The subject property is 44.30 acre parcel which has approximately 4 acres of level non wooded area for aresidential building site and and 39.70 acres of heavily wooded forest land with mature trees and a small river.

To establish a opinion of market value for parcel HL-356

Andrew S. & Karen L. Hoffmann

Andrew S. & Karen L. Hoffmann 316 Sheldon Court, Green Bay, WI 54313James E Van Vonderen P.O. Box 432, De Pere, WI 54115

955

One-Unit Housing

30400150

015050+

40005

Agricultural 55

Current interest rates have they have been in the last few years. The general economy has slowed, there is still growthin the residential housing market. Local MLS statistics reflect a typical marketing time for this particular area to be 400 or more days.Agricultural properties in the subjects area has shown a increase in sale price in the past 2 years due to larger farms purchasing more acreagefor cattle feed and acreage to dispose of cattle waste. Recreational properties similar to the subject property with abundant wildlife and riversare not listed on the open market often, but when sold do sell for higher than normal price per acre due to limited parcels of properties whichare wooded and with a river.

Irregular 44.303 AcresAgricultural Agricultural Wooded

Agricultural/Residential

Recreational Wooded ( Vacant Land ) Recreational Wooded ( Vacant Land )At this time the highest and best use is agricultural/residential.

PublicLiquid PropanePrivate WellPrivate SystemDitchAvailableAvailable

AsphaltAdequateAsphalt

N/AN/AN/AN/A

496.23'Level44.303 AcresBasically RectangularAppears AdequateResid/Fields

A 55009C0345F 08/18/2009The property is a 44.303 acre parcel with adequate space and ground contours for a residential building site. Brown County

has purchased and developed the adjoining land to the East of the subject property for a future land fill site. Per conservation with BrownCounty officials the land fill will not be operational until the year 2020 or the year 2022. The subject property also borders adjacent farm land.


File No.:SU

BJE

CT

Property Address: City: State: Zip Code:County: Legal Description:

Assessor's Parcel #: Tax Year: R.E. Taxes: $ Special Assessments: $Market Area Name: Map Reference: Census Tract:Current Owner of Record: Borrower (if applicable):Project Type (if applicable): PUD De Minimis PUD Other (describe) HOA: $ per year per monthAre there any existing improvements to the property? No Yes If Yes, indicate current occupancy: Owner Tenant Vacant Not habitableIf Yes, give a brief description:

ASS

IGN

MEN

T

The purpose of this appraisal is to develop an opinion of: Market Value (as defined), or other type of value (describe)This report reflects the following value (if not Current, see comments): Current (the Inspection Date is the Effective Date) Retrospective ProspectiveProperty Rights Appraised: Fee Simple Leasehold Leased Fee Other (describe)Intended Use:

Intended User(s) (by name or type):

Client: Address:Appraiser: Address:

MA

RK

ET A

REA

DES

CR

IPTI

ON

CharacteristicsLocation: Urban Suburban RuralBuilt up: Over 75% 25-75% Under 25%Growth rate: Rapid Stable SlowProperty values: Increasing Stable DecliningDemand/supply: Shortage In Balance Over SupplyMarketing time: Under 3 Mos. 3-6 Mos. Over 6 Mos.

PredominantOccupancy

OwnerTenantVacant (0-5%)Vacant (>5%)

PRICE$(000)

LowHighPred

AGE(yrs)

Present Land UseOne-Unit %2-4 Unit %Multi-Unit %Comm'l %

%%

Change in Land UseNot LikelyLikely * In Process *

* To:

Factors Affecting MarketabilityGood Average Fair Poor N/AItem

Employment StabilityConvenience to EmploymentConvenience to ShoppingConvenience to SchoolsAdequacy of Public TransportationRecreational Facilities

Item Good Average Fair Poor N/AAdequacy of UtilitiesProperty CompatibilityProtection from Detrimental ConditionsPolice and Fire ProtectionGeneral Appearance of PropertiesAppeal to Market

Market Area Comments:

SITE

DES

CR

IPTI

ON

Dimensions: Site Area:Zoning Classification: Description:

Do present improvements comply with existing zoning requirements? Yes No No ImprovementsUses allowed under current zoning:

Are CC&Rs applicable? Yes No Unknown Have the documents been reviewed? Yes No Ground Rent (if applicable) $ /Comments:Highest & Best Use as improved: Present use, or Other use (explain)

Actual Use as of Effective Date: Use as appraised in this report:Summary of Highest & Best Use:

Utilities Public Other Provider/Description Off-site Improvements Type Public PrivateElectricityGasWaterSanitary SewerStorm SewerTelephoneMultimedia

StreetWidthSurface

Curb/GutterSidewalkStreet LightsAlley

FrontageTopographySizeShapeDrainageView

Other site elements: Inside Lot Corner Lot Cul de Sac Underground Utilities Other (describe)FEMA Spec'l Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map DateSite Comments:



22

File No.:TR

AN

SFER

HIS

TOR

Y

My research did did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal.Data Source(s):

1st Prior Subject Sale/TransferDate:Price:Source(s):

2nd Prior Subject Sale/TransferDate:Price:Source(s):

Analysis of sale/transfer history and/or any current agreement of sale/listing:

SALE

S C

OM

PAR

ISO

N A

PPR

OA

CH

FEATURE SUBJECT PROPERTY COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3Address

Proximity to SubjectSale Price $ $ $ $Price/ $ $ $ $Data Source(s)Verification Source(s)VALUE ADJUSTMENT DESCRIPTION DESCRIPTION DESCRIPTION DESCRIPTION

Sales or FinancingConcessionsDate of Sale/TimeRights AppraisedLocationSite Area

Net Adjustment (Total, in $) + + +$

$

– – –$

$

$

$Summary of Sales Comparison Approach

PUD

PROJECT INFORMATION FOR PUDs (if applicable) The Subject is part of a Planned Unit Development.Legal Name of Project:Describe common elements and recreational facilities:

REC

ON

CIL

IATI

ON

Indicated Value by: Sales Comparison Approach $Final Reconciliation

This appraisal is made ''as is'', or subject to the following conditions:

This report is also subject to other Hypothetical Conditions and/or Extraordinary Assumptions as specified in the attached addenda.Based upon an inspection of the subject property, defined Scope of Work, Statement of Assumptions and Limiting Conditions, and Appraiser’s Certifications,my (our) Opinion of the Market Value (or other specified value type), as defined herein, of the real property that is the subject of this report is:$ , as of: , which is the effective date of this appraisal.If indicated above, this Opinion of Value is subject to Hypothetical Conditions and/or Extraordinary Assumptions included in this report. See attached addenda.

ATT

AC

H. A true and complete copy of this report contains pages, including exhibits which are considered an integral part of the report. This appraisal report may not be

properly understood without reference to the information contained in the complete report, which contains the following attached exhibits:

SIG

NA

TUR

ES

Client Contact: Client Name:E-Mail: Address:

APPRAISER

Appraiser Name:Company:Phone: Fax:E-Mail:Date of Report (Signature):License or Certification #: State:Designation:Expiration Date of License or Certification:Inspection of Subject: Did Inspect Did Not Inspect (Desktop)Date of Inspection:

SUPERVISORY APPRAISER (if required)or CO-APPRAISER (if applicable)

Supervisory orCo-Appraiser Name:Company:Phone: Fax:E-Mail:Date of Report (Signature):License or Certification #: State:Designation:Expiration Date of License or Certification:Inspection of Subject: Did Inspect Did Not InspectDate of Inspection:


MILL1142MILL1142LAND APPRAISAL SUMMARY REPORT

Assessor Records and REDIResearch of county records and REDI

have shown the subject property has not transferred or sold in the previous three years as stated above.


N/AAcre

InspectionAssessor Records

N/AN/AN/AFee SimpleRural/Avg44.30(in Acres)

Building 288 Sq Ft

12520 Zander RoadDenmark, WI 542081.37 miles E

115,0009,829.06

Cliff Kane Realty/InspectionAssessor Records/REDI

ConventionalNone Noted05/14/2012Fee SimpleRural/Avg11.70 +309,700None Noted +5,760

315,460Net 274.3 %

Gross 274.3 % 430,460

1884 Hill RoadGreenleaf, WI 541263.46 miles NE

611,0008,605.63

Wi Transfer Data/ InspectionAssessor Records/REDI

CashNone Noted04/13/2012Fee SimpleRural/Avg71.0 -253,650None Noted +5,760

-247,890Net 40.6 %

Gross 42.5 % 363,110

St Pats Church RoadGreenleaf, WI 541269.56 miles S

160,00014,388.49

MLS # 10810099/ InspectionAssessor Records/REDI

CashNone Noted11/20/2009Fee SimpleRural/Avg11.12 +315,210250+/- Sq Ft 0

315,210Net 197.0 %

Gross 197.0 % 475,210Adjusted Sale Price (in $)

+(-) $ Adjust +(-) $ Adjust +(-) $ Adjust

The comparables listed are all vacant land sales with similar features and are located within reasonableproximity to the subject. The comparables listed are considered the best, most recent sales and are considered the best indicator of value.Due to limited vacant land sales the appraiser has listed what are competing vacant agricultural parcels that are located in similar markets suchas the subject property. Comparable properties listed are the most recent sales of rural properties with a mixture of agricultural land withwooded areas within the subject property market. Comparable properties #1 and #3 are most similar to the subject which is mostly woodedand recreational land. No one property of equal acreage could be located in the subjects market area. Most sold properties are bare landtillable properties which have a average sale price of $7,200.00 per acre, but do not have similar amenities as the subject property. The subjectproperty does have a river, is heavily wooded and offers recreational usage, has a small building, electrical service to the parcel and 496' +/-road frontage. The subject has approximately 5+ acres of buildable land with the possibility of 1-2 lots for residential properties. The woodedarea contains mature growth hardwood, softwood trees, winding river and 50% highlands.

410,000 or $ 9,255.08 per AcreThe market approach is the strongest indication of value because it illustrates the actions of the typical buyer and seller.

410,000.00 05/09/2012

14Scope of Work

Limiting cond./Certifications Narrative Addendum Location Map(s) Flood Addendum Additional SalesPhoto Addenda Parcel Map Hypothetical Conditions Extraordinary Assumptions

Andrew S. & Karen L. Hoffmann Andrew S. & Karen L. Hoffmann316 Sheldon Court, Green Bay, WI 54313


(920) 606-2841 (920) [email protected]

May 17, 20121768-9 WI

Certified Residential Appraiser12/14/2013

05/09/2012


MILL1142MILL1142LAND APPRAISAL SUMMARY REPORT

Assessor Records and REDIResearch of county records and REDI

have shown the subject property has not transferred or sold in the previous three years as stated above.


N/AAcre



Building 288 Sq Ft

12520 Zander RoadDenmark, WI 542081.37 miles E

115,0009,829.06

Cliff Kane Realty/InspectionAssessor Records/REDI

ConventionalNone Noted05/14/2012Fee SimpleRural/Avg11.70 +309,700None Noted +5,760

315,460Net 274.3 %

Gross 274.3 % 430,460

1884 Hill RoadGreenleaf, WI 541263.46 miles NE

611,0008,605.63

Wi Transfer Data/ InspectionAssessor Records/REDI

CashNone Noted04/13/2012Fee SimpleRural/Avg71.0 -253,650None Noted +5,760

-247,890Net 40.6 %

Gross 42.5 % 363,110

St Pats Church RoadGreenleaf, WI 541269.56 miles S

160,00014,388.49

MLS # 10810099/ InspectionAssessor Records/REDI

CashNone Noted11/20/2009Fee SimpleRural/Avg11.12 +315,210250+/- Sq Ft 0

315,210Net 197.0 %

Gross 197.0 % 475,210Adjusted Sale Price (in $)


The comparables listed are all vacant land sales with similar features and are located within reasonableproximity to the subject. The comparables listed are considered the best, most recent sales and are considered the best indicator of value.Due to limited vacant land sales the appraiser has listed what are competing vacant agricultural parcels that are located in similar markets suchas the subject property. Comparable properties listed are the most recent sales of rural properties with a mixture of agricultural land withwooded areas within the subject property market. Comparable properties #1 and #3 are most similar to the subject which is mostly woodedand recreational land. No one property of equal acreage could be located in the subjects market area. Most sold properties are bare landtillable properties which have a average sale price of $7,200.00 per acre, but do not have similar amenities as the subject property. The subjectproperty does have a river, is heavily wooded and offers recreational usage, has a small building, electrical service to the parcel and 496' +/-road frontage. The subject has approximately 5+ acres of buildable land with the possibility of 1-2 lots for residential properties. The woodedarea contains mature growth hardwood, softwood trees, winding river and 50% highlands.

410,000 or $ 9,255.08 per AcreThe market approach is the strongest indication of value because it illustrates the actions of the typical buyer and seller.

410,000.00 05/09/2012

14Scope of Work

Limiting cond./Certifications Narrative Addendum Location Map(s) Flood Addendum Additional SalesPhoto Addenda Parcel Map Hypothetical Conditions Extraordinary Assumptions

Andrew S. & Karen L. Hoffmann Andrew S. & Karen L. Hoffmann316 Sheldon Court, Green Bay, WI 54313


(920) 606-2841 (920) [email protected]

May 17, 20121768-9 WI

Certified Residential Appraiser12/14/2013

05/09/2012


File No.:TR

AN

SFER

HIS

TOR

Y

My research did did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal.Data Source(s):

1st Prior Subject Sale/TransferDate:Price:Source(s):

2nd Prior Subject Sale/TransferDate:Price:Source(s):

Analysis of sale/transfer history and/or any current agreement of sale/listing:

SALE

S C

OM

PAR

ISO

N A

PPR

OA

CH

FEATURE SUBJECT PROPERTY COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3Address

Proximity to SubjectSale Price $ $ $ $Price/ $ $ $ $Data Source(s)Verification Source(s)VALUE ADJUSTMENT DESCRIPTION DESCRIPTION DESCRIPTION DESCRIPTION

Sales or FinancingConcessionsDate of Sale/TimeRights AppraisedLocationSite Area


$

– – –$

$

$

$Summary of Sales Comparison Approach

PUD

PROJECT INFORMATION FOR PUDs (if applicable) The Subject is part of a Planned Unit Development.Legal Name of Project:Describe common elements and recreational facilities:

REC

ON

CIL

IATI

ON

Indicated Value by: Sales Comparison Approach $Final Reconciliation

This appraisal is made ''as is'', or subject to the following conditions:

This report is also subject to other Hypothetical Conditions and/or Extraordinary Assumptions as specified in the attached addenda.Based upon an inspection of the subject property, defined Scope of Work, Statement of Assumptions and Limiting Conditions, and Appraiser’s Certifications,my (our) Opinion of the Market Value (or other specified value type), as defined herein, of the real property that is the subject of this report is:$ , as of: , which is the effective date of this appraisal.If indicated above, this Opinion of Value is subject to Hypothetical Conditions and/or Extraordinary Assumptions included in this report. See attached addenda.

ATT

AC

H. A true and complete copy of this report contains pages, including exhibits which are considered an integral part of the report. This appraisal report may not be

properly understood without reference to the information contained in the complete report, which contains the following attached exhibits:

SIG

NA

TUR

ES

Client Contact: Client Name:E-Mail: Address:

APPRAISER

Appraiser Name:Company:Phone: Fax:E-Mail:Date of Report (Signature):License or Certification #: State:Designation:Expiration Date of License or Certification:Inspection of Subject: Did Inspect Did Not Inspect (Desktop)Date of Inspection:

SUPERVISORY APPRAISER (if required)or CO-APPRAISER (if applicable)

Supervisory orCo-Appraiser Name:Company:Phone: Fax:E-Mail:Date of Report (Signature):License or Certification #: State:Designation:Expiration Date of License or Certification:Inspection of Subject: Did Inspect Did Not InspectDate of Inspection:



23

File No.:C

OM

PAR

AB

LE L

ISTI

NG

S

FEATURE SUBJECT PROPERTY COMPARABLE LISTING # COMPARABLE LISTING # COMPARABLE LISTING #Address

Proximity to SubjectList Price $ $ $ $Price/ $ $ $ $Last Price Revision DateData Source(s)Verification Source(s)VALUE ADJUSTMENT DESCRIPTION DESCRIPTION DESCRIPTION DESCRIPTION

Sales or FinancingConcessionsDays on MarketRights AppraisedLocationSite Area


$

– – –$

$

$

$Comments


MILL1142MILL1142COMPARABLE LISTINGS


Acre



Building 288 Sq Ft

Harvest Moon LaneKaukauna WI, 54130

430,00014,492.75

N/AMLS# 50047883Assessor Records

ListingNone Noted103 DaysFee SimpleRural/Avg29.67 +138,985N/A +5,760

144,745Net 33.7 %

Gross 33.7 % 574,745

2101 Lakeview DriveSuamico WI, 54173

1,275,00013,934.43

N/AWhiteTail PropertiesAssessor Records

ListingNone NotedUnknownFee SimpleRural/Avg91.5 -448,4001200 Sq Ft -24,000

-472,400Net 37.1 %

Gross 37.1 % 802,600Net %

Gross %Adjusted Sale Price (in $)


The listing properties #1 and #2 are wooded properties with similar heavily wooded areas, wild life and streams or rivers. Allproperties listed are located in Northeast Wisconsin and due to the fact they have not sold all values are hypothetical.. Recreational propertiessuch as the listing properties and the subject property do sell for higher value due to the wild life and hunting opportunities they offer.

1 2 3

Form GPLND.(AL) — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

MILL1142MILL1142COMPARABLE LISTINGS


Acre



Building 288 Sq Ft

Harvest Moon LaneKaukauna WI, 54130

430,00014,492.75

N/AMLS# 50047883Assessor Records

ListingNone Noted103 DaysFee SimpleRural/Avg29.67 +138,985N/A +5,760

144,745Net 33.7 %

Gross 33.7 % 574,745

2101 Lakeview DriveSuamico WI, 54173

1,275,00013,934.43

N/AWhiteTail PropertiesAssessor Records

ListingNone NotedUnknownFee SimpleRural/Avg91.5 -448,4001200 Sq Ft -24,000

-472,400Net 37.1 %

Gross 37.1 % 802,600Net %

Gross %Adjusted Sale Price (in $)


The listing properties #1 and #2 are wooded properties with similar heavily wooded areas, wild life and streams or rivers. Allproperties listed are located in Northeast Wisconsin and due to the fact they have not sold all values are hypothetical.. Recreational propertiessuch as the listing properties and the subject property do sell for higher value due to the wild life and hunting opportunities they offer.

1 2 3

Form GPLND.(AL) — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

File No.:C

OM

PAR

AB

LE L

ISTI

NG

S

FEATURE SUBJECT PROPERTY COMPARABLE LISTING # COMPARABLE LISTING # COMPARABLE LISTING #Address

Proximity to SubjectList Price $ $ $ $Price/ $ $ $ $Last Price Revision DateData Source(s)Verification Source(s)VALUE ADJUSTMENT DESCRIPTION DESCRIPTION DESCRIPTION DESCRIPTION

Sales or FinancingConcessionsDays on MarketRights AppraisedLocationSite Area


$

– – –$

$

$

$Comments



24

Property AddressCity County State Zip Code

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

Subject Photo PageAndrew S. & Karen L Hoffmann1142 Mill RdGreenleaf Brown WI 54126Andrew S. & Karen L Hoffmann

Subject Property

Sales PriceGross Living AreaTotal RoomsTotal BedroomsTotal BathroomsLocationViewSiteQualityAge

N/A

1.0Rural/Avg10.0 ac44.30Q354

Subject Property

Subject Road

Borrower/Client

Lender

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

Subject Photo PageAndrew S. & Karen L Hoffmann1142 Mill RdGreenleaf Brown WI 54126Andrew S. & Karen L Hoffmann

Subject Property

Sales PriceGross Living AreaTotal RoomsTotal BedroomsTotal BathroomsLocationViewSiteQualityAge

N/A

1.0Rural/Avg10.0 ac44.30Q354

Subject Property

Subject Road

Borrower/Client

Lender



25


Form PICSIX2 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Photograph AddendumAndrew S. & Karen L Hoffmann1142 Mill RdGreenleaf Brown WI 54126Andrew S. & Karen L Hoffmann

Subject property Subject property


Subject road view Subject property

Borrower/Client

Lender

Form PICSIX2 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Photograph AddendumAndrew S. & Karen L Hoffmann1142 Mill RdGreenleaf Brown WI 54126Andrew S. & Karen L Hoffmann



Subject road view Subject property

Borrower/Client

Lender



26


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

Comparable Photo PageAndrew S. & Karen L Hoffmann1142 Mill RdGreenleaf Brown WI 54126Andrew S. & Karen L Hoffmann

Comparable 1

Prox. to SubjectSales PriceGross Living AreaTotal RoomsTotal BedroomsTotal BathroomsLocationViewSiteQualityAge

12520 Zander Road1.37 miles E115,0001,144631.0Rural/AvgN;Res;Pstrl11.70Q418

Comparable 2


1884 Hill Road3.46 miles NE611,0002,016841.0Rural/AvgN;Res;Pstrl71.0Q3~85

Comparable 3


St Pats Church Road9.56 miles S160,0002,012832.0Rural/AvgN;Res;Pstrl11.12Q3129

Borrower/Client

Lender

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

Comparable Photo PageAndrew S. & Karen L Hoffmann1142 Mill RdGreenleaf Brown WI 54126Andrew S. & Karen L Hoffmann

Comparable 1


12520 Zander Road1.37 miles E115,0001,144631.0Rural/AvgN;Res;Pstrl11.70Q418

Comparable 2


1884 Hill Road3.46 miles NE611,0002,016841.0Rural/AvgN;Res;Pstrl71.0Q3~85

Comparable 3


St Pats Church Road9.56 miles S160,0002,012832.0Rural/AvgN;Res;Pstrl11.12Q3129

Borrower/Client

Lender



27


Form DLSTRNT.DM#R — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Listing Photo PageAndrew S. & Karen L Hoffmann1142 Mill RdGreenleaf Brown WI 54126Andrew S. & Karen L Hoffmann

Listing 1

Proximity to SubjectList PriceDays on MarketGross Living AreaTotal RoomsTotal BedroomsTotal BathroomsAge

Harvest Moon Lane

430,000103 Days

Listing 2


2101 Lakeview Drive

1,275,000Unknown

3

Borrower/Client

Lender

Form DLSTRNT.DM#R — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Listing Photo PageAndrew S. & Karen L Hoffmann1142 Mill RdGreenleaf Brown WI 54126Andrew S. & Karen L Hoffmann

Listing 1


Harvest Moon Lane

430,000103 Days

Listing 2


2101 Lakeview Drive

1,275,000Unknown

3

Borrower/Client

Lender



28

Plat Map

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

Plat Map



29

Aerial Plat Map


Aerial Plat Map



30


Form MAP.PLAT — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Appraiser CertificationAndrew S. & Karen L Hoffmann1142 Mill RdGreenleaf Brown WI 54126Andrew S. & Karen L Hoffmann

Borrower/Client

Lender

Form MAP.PLAT — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

Appraiser CertificationAndrew S. & Karen L Hoffmann1142 Mill RdGreenleaf Brown WI 54126Andrew S. & Karen L Hoffmann

Borrower/Client

Lender



31

Documents

APPRAISAL OF REAL PROPERTY - Mill Road Propertymillroadproperty.com/.../uploads/2016/12/Mill-Road-Appraisal.pdf · APPRAISAL OF REAL PROPERTY 1142 Mill Rd ... Form GA1V — "WinTOTAL"