J0001084 10/15Nova McIlhaney Homes, LLC200 Harvard RdNorman Cleveland OK 73072Oklahoma State Bank

USPAP Identification ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Summary of Salient Features ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Small Income ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Additional Comparables 4­6 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Subject Photos ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Subject Photos ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Comparable Photos 1­3 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Comparable Photos 4­6 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Building Sketch ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Plat Map ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Location Map ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................License ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

123101112131415161718

Form TOCP ­ "TOTAL" appraisal software by a la mode, inc. ­ 1­800­ALAMODE

Borrower

Lender/Client

File No.

Property Address

City County State Zip Code

Nova McIlhaney Homes, LLC J0001084 10/15200 Harvard RdNorman Cleveland OK 73072Oklahoma State Bank

APPRAISAL AND REPORT IDENTIFICATION

2­2(a)

2­2(b)

Comments on Standards Rule 2­3I 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 theparties involved.—  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 thethree­year period 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 thecause 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 useof this appraisal.—  My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional AppraisalPractice that were 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 nameof each individual providing significant real property appraisal assistance is stated elsewhere in this report).

180 days or less

Comments on Appraisal and Report IdentificationNote any USPAP­related issues requiring disclosure and any state mandated requirements:

Stephen F. Schmedt

11984SLAOK 03/31/2017

10/14/201510/07/2015

10/07/2015

Form ID14E ­ "TOTAL" appraisal software by a la mode, inc. ­ 1­800­ALAMODE

Borrower

Lender/Client

File No.

Property Address

City County State Zip Code

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

(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.)

(USPAP defines Exposure Time as the estimated length of time that the property interest being

appraised would have been offered on the market prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal.)

Signature:

Name:

State Certification #:

or State License #:

State: Expiration Date of Certification or License:

Date of Signature and Report:

Effective Date of Appraisal:

Inspection of Subject: None Interior and Exterior Exterior­Only

Date of Inspection (if applicable):

Signature:

Name:

State Certification #:

or State License #:

State: Expiration Date of Certification or License:

Date of Signature:

Inspection of Subject: None Interior and Exterior Exterior­Only

Date of Inspection (if applicable):

Form NIV5 ­ "TOTAL" appraisal software by a la mode, inc. ­ 1­800­ALAMODE

Metro Appraisal Group, Inc.

Stephen SchmedtStephen SchmedtOakleaf Payment Processing15712 N PennEdmond, OK 73013

405­340­7003 x1

Oklahoma State Bank900 36th Avenue NW, Suite 102Norman, OK 73044

J0001084 10/15

10/08/2015

J0001084 10/15

J0001084 10/15

J0001084 10/15

47­1250043

Oklahoma State Bank Oklahoma State BankNova McIlhaney Homes, LLC200 Harvard RdNormanCleveland OK 73072Lot 10, Block 1 Heritage Place II

Appraisal Fee 500.00

500.00

500.00

405­340­7004

FROM:

Telephone Number: Fax Number:

TO:

Telephone Number: Fax Number:

Alternate Number: E­Mail:

INVOICE NUMBER

DATE

REFERENCE

Internal Order #:

Lender Case #:

Client File #:

Main File # on form:

Other File # on form:

Federal Tax ID:

Employer ID:

Lender: Client:

Purchaser/Borrower:

Property Address:

City:

County: State: Zip:

Legal Description:

$

DESCRIPTION

FEES AMOUNT

SUBTOTAL

PAYMENTS AMOUNT

Check #: Date: Description:

Check #: Date: Description:

Check #: Date: Description:

SUBTOTAL

TOTAL DUE

Form SSD ­ "TOTAL" appraisal software by a la mode, inc. ­ 1­800­ALAMODE

200 Harvard Rd

Lot 10, Block 1 Heritage Place II

Norman

Cleveland

OK

73072

2015.07

36420

n/a

n/a

Nova McIlhaney Homes, LLC

Oklahoma State Bank

2,936

suburban/avg.

32

average

8

6

4.2

Stephen F. Schmedt

10/07/2015

221,000

Borrower

Lender/Client

SUBJ

ECT

INFO

RMAT

ION

Subject Address

Legal Description

City

County

State

Zip Code

Census Tract

Map Reference

SALE

SPR

ICE

Sale Price

Date of Sale

$

CLIE

NTDE

SCRI

PTIO

NOF

IMPR

OVEM

ENTS

Size (Square Feet)

Price per Square Foot

Location

Age

Condition

Total Rooms

Bedrooms

Baths

$

APPR

AISE

R Appraiser

Date of Appraised Value

VALU

E

Final Estimate of Value $

J0001084 10/15J0001084 10/15

200 Harvard Rd Norman OK 73072Nova McIlhaney Homes, LLC Nova & Stephen McIlhaney Cleveland

Lot 10, Block 1 Heritage Place IIR0034757 2014 2,035Heritage Place 36420 2015.07

0 0

Oklahoma State Bank 900 36th Avenue NW, Suite 102, Norman, OK 73044

OKCMAR 2015

n/a

n/a n/a n/a

n/a

20440163

88532

8010

10 North: Robinson  South: Main    East: 36th Ave SW   West: 48th Ave NW

The subject neighborhood consists of various sized single family and multi family residences located on typical sizedlots.  Homes are of average quality construction.  Distance to supportive amenities and employment is considered to be good.  Theneighborhood lends good access to schools, shopping, recreation and medical facilities.  The neighborhood is within a few minutes of I­35,HWY 9 and The University of Oklahoma.

Property values within the subject's area of influence are currently considered stable.Marketing time for the area ranges from three to six months for reasonably priced and well marketed properties.  The area is considered to bebuilt up over 75%.  In addition, the growth rate is also considered to be stable.  The most typical form of financing for the area is conventionalloans with little or no seller participation.  Sales prices are generally 92% to 98% of the asking price.

please see plat map .17 rectangular typicalresidential residential

pavednone

X 40027C0260H 9/26/2008

There were no apparent adverse easements, encroachments, special assessments, illegal or legal nonconforming zoning usage notedduring inspection of the subject property, however, a survey is recommended in order to be certain of any underlying adversities.

2 1

traditional198328

0.000

none noted

concrete/avgbrick/avgcomp. shingle/avgyes/avgframe/avgnoneyes/avg

carp,til,wd lm/avgtextured/avgpaint,stained/avgtile/avgfiberglass/avg

gas2

2concrete

2

2  24 3 2.1 1,4684 3 2.1 1,468

The subject is equipped with garage door opener, ceiling fans, built in cabinets and storm door.

The subject is in average condition with noinadequacies noted.  The quality of construction is considered average to and is typical of other properties in the subject's area of influence.The property is considered to have an acceptable floor plan and no functional obsolescence, deferred maintenance or external depreciationnoted.

Metro Appraisal Group, Inc.

Form 1025 ­ "TOTAL" appraisal software by a la mode, inc. ­ 1­800­ALAMODE

Small Residential Income Property Appraisal Report File #

SUB

JEC

TC

ON

TRAC

TN

EIG

HB

OR

HO

OD

SITE

IMPR

OVE

MEN

TS

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 Address City State Zip Code

Borrower Owner of Public Record County

Legal Description

Assessor's Parcel # Tax Year R.E. Taxes $

Neighborhood Name Map Reference Census Tract

Occupant Owner Tenant Vacant Special Assessments $ PUD HOA $ per year per month

Property Rights Appraised Fee Simple Leasehold Other (describe)

Assignment Type Purchase Transaction Refinance Transaction Other (describe)

Lender/Client Address

Is the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal? Yes No

Report data source(s) used, offering price(s), and date(s).

I did did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was not

performed.

Contract Price $ Date of Contract Is the property seller the owner of public record? Yes No Data Source(s)

Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower? Yes No

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

Location Urban Suburban Rural

Built­Up Over 75% 25­75% Under 25%

Growth Rapid Stable Slow

2­4 Unit Housing Trends

Property Values Increasing Stable Declining

Demand/Supply Shortage In Balance Over Supply

Marketing Time Under 3 mths 3­6 mths Over 6 mths

2­4 Unit Housing

PRICE

$ (000)

AGE

(yrs)

Low

High

Pred.

Present Land Use %

One­Unit %

2­4 Unit %

Multi­Family %

Commercial %

Other %

Neighborhood Boundaries

Neighborhood Description

Market Conditions (including support for the above conclusions)

Dimensions Area Shape View

Specific Zoning Classification Zoning Description

Zoning Compliance Legal Legal Nonconforming (Grandfathered Use) No Zoning Illegal (describe)

Is the highest and best use of subject property as improved (or as proposed per plans and specifications) the present use? Yes No If No, describe

Utilities Public Other (describe) Public Other (describe)

Electricity

Gas

Water

Sanitary Sewer

Off­site Improvements ­ Type Public Private

Street

Alley

FEMA Special Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map Date

Are the utilities and/or off­site improvements typical for the market area? Yes No If No, describe

Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? Yes No If Yes, describe

General Description

Units Two Three Four

Accessory Unit (describe below)

# of Stories # of bldgs.

Type Det. Att. S­Det./End Unit

Existing Proposed Under Const.

Design (Style)

Year Built

Effective Age (Yrs)

Foundation

Concrete Slab Crawl Space

Full Basement Partial Basement

Basement Area sq.ft.

Basement Finish %

Outside Entry/Exit Sump Pump

Evidence of Infestation

Dampness Settlement

Exterior Description materials/condition

Foundation Walls

Exterior Walls

Roof Surface

Gutters & Downspouts

Window Type

Storm Sash/Insulated

Screens

Interior materials/condition

Floors

Walls

Trim/Finish

Bath Floor

Bath Wainscot

Attic None

Drop Stair Stairs

Floor Scuttle

Finished Heated

Heating/Cooling

FWA HWBB Radiant

Other Fuel

Cooling Central Air Conditioning

Individual Other

Amenities

Fireplace(s) #

Patio/Deck

Pool

Woodstove(s) #

Fence

Porch

Other

Car Storage

None

Driveway # of Cars

Driveway Surface

Garage # of Cars

Carport # of Cars

Att. Det. Built­in

# of Appliances Refrigerator Range/Oven Dishwasher Disposal Microwave Washer/Dryer Other (describe)

Unit # 1 contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area

Unit # 2 contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area

Unit # 3 contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area

Unit # 4 contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area

Additional features (special energy efficient items, etc.).

Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.).

Page 1 of 7Freddie Mac Form 72 March 2005 Fannie Mae Form 1025 March 2005

J0001084 10/15J0001084 10/15

200 Harvard RdNorman, OK 73072

full inspectionunknownsuburban/avg.32average

2,936

2,9364 3 2.1 1,4684 3 2.1 1,468

none

Rental data was not required as per the client's request.

county records

county records

nonen/acounty records10/08/2015

nonen/acounty records10/08/2015

nonen/acounty records10/08/2015

nonen/acounty records10/08/2015

Sales and transfer data was obtained from county records.

Form 1025 ­ "TOTAL" appraisal software by a la mode, inc. ­ 1­800­ALAMODE

Small Residential Income Property Appraisal Report File #

IMPR

OVE

MEN

TSC

OM

PAR

ABLE

REN

TAL

DAT

ASU

BJE

CT

REN

TSC

HED

ULE

PRIO

RSA

LEH

ISTO

RY

Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? Yes No If Yes, describe.

Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? Yes No If No, describe.

Is the property subject to rent control? Yes No If Yes, describe

The following properties represent the most current, similar, and proximate comparable rental properties to the subject property. This analysis is intended to support theopinion of the market rent for the subject property.

FEATURE SUBJECT COMPARABLE RENTAL # 1 COMPARABLE RENTAL # 2 COMPARABLE RENTAL # 3

Address

Proximity to Subject

Current Monthly Rent $ $ $ $

Rent/Gross Bldg. Area $ sq.ft. $ sq.ft. $ sq.ft. $ sq.ft.

Rent Control Yes No Yes No Yes No Yes No

Data Source(s)

Date of Lease(s)

Location

Actual Age

Condition

Gross Building Area

Unit BreakdownMonthly Rent Monthly Rent Monthly RentRm Count

SizeSq. Ft. Rm Count

SizeSq. Ft. Rm Count

SizeSq. Ft. Rm Count

SizeSq. Ft.

Tot Br Ba Tot Br Ba Tot Br Ba Tot Br Ba

Unit # 1 $ $ $

Unit # 2 $ $ $

Unit # 3 $ $ $

Unit # 4 $ $ $

Utilities Included

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

etc.)

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

Leases Actual Rents Opinion of Market Rent

Lease Date Per Unit TotalRents

Per Unit TotalRentsUnit # Begin Date End Date Unfurnished Furnished Unfurnished Furnished

1

2

3

4

$ $ $ $ $ $

Comment on lease data Total Actual Monthly Rent $ Total Gross Monthly Rent $

Other Monthly Income (itemize) $ Other Monthly Income (itemize) $

Total Actual Monthly Income $ Total Estimated Monthly Income $

Utilities included in estimated rents Electric Water Sewer Gas Oil Trash collection Cable Other

Comments on actual or estimated rents and other monthly income (including personal property)

I did did not research the sale or transfer history of the subject property and comparable sales. If not, explain

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)

My research did did 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)

Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).

ITEM SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3

Date of Prior Sale/Transfer

Price of Prior Sale/Transfer

Data Source(s)

Effective Date of Data Source(s)

Analysis of prior sale or transfer history of the subject property and comparable sales

Page 2 of 7Freddie Mac Form 72 March 2005 Fannie Mae Form 1025 March 2005

J0001084 10/15J0001084 10/15

0 n/a n/a180,000 213,000

200 Harvard RdNorman, OK 73072

n/a

suburban/avg.Fee Simpleatt residentialtypicaltraditionalaverage32average

2,936

4 3 2.14 3 2.1

0.000averageCentral heat/airtypical2 car gar/1 per unitpatio/porch

2609 Belknap AveNorman, OK 730722.56 miles SE

213,00075.85

106,50021,30035,500

County Records, MLSRealist

none reported

11/14suburban/avg.Fee Simpleatt residentialtypicaltraditionalaverage31 0average

2,808 +5,100

5 3 2 +2,0005 3 2 +2,000

none0averageCentral heat/airtypical2 car gar/1 per unitpatio/porch

9,1004.34.3 222,100

111,05022,21037,017

217 Monticello RdNorman, OK 730720.13 miles E

180,00069.66

90,00020,00036,000

County Records, MLSRealist

none reported

04/15suburban/avg.Fee Simpleatt residentialtypicaltraditionalaverage31 0average

2,584 +14,100

5 3 2 +2,0004 2 1.1 +3,000

none0averageCentral heat/airtypical4 car gar/2 per unit ­4,000patio/porch

15,1008.412.8 195,10097,55021,67839,020

306 Willow Branch RdNorman, OK 730720.30 miles NE

208,00083.13

104,00020,80034,667

County Records, MLSRealist

none reported

07/15suburban/avg.Fee Simpleatt residentialtypicaltraditionalaverage34 0average

2,502 +17,400

5 3 2 +2,0005 3 2 +2,000

none0averageCentral heat/airtypical2 car gar/1 per unitpatio/porch

21,40010.310.3 229,400114,70022,94038,233

2,9368 6

Sales utilized are verifiable sales that reflect the generalcharacteristics of the subject property.  Analysis of value influencing characteristics within this market segment took place when selecting thecomparable sales.  Comparable sales within the last six months were not revealed, therefore it was necessary to examine sales within the lasttwenty­four months to utilize the most desirable comparable sales.  Adjustments were unavoidable, yet were acceptable.  The sales selectedwere deemed to provide an accurate and dependable value estimate in regards to the subject property, as they were similar in size andeffective age.  All sales are given consideration in the final analysis of market value.

221,000

The GRM for the subject area is not well defined and will not be used in the finalvalue estimate.

221,000Due to the availability of sales data, the sales comparison approach was used to determine the final value estimate.  The cost approach andincome approach were deemed irrelevant and were not developed.  Only sales comparison was requested by the client.

221,000 10/07/2015

Form 1025 ­ "TOTAL" appraisal software by a la mode, inc. ­ 1­800­ALAMODE

Small Residential Income Property Appraisal Report File #

SALE

SC

OM

PAR

ISO

NAP

PRO

ACH

INC

OM

ER

ECO

NC

ILIA

TIO

N

There are comparable properties currently offered for sale in the subject neighborhood ranging in price from $ to $ .

There are comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ to $ .

FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3

Address

Proximity to Subject

Sale Price

Sale Price/Gross Bldg. Area sq.ft. sq.ft. sq.ft. sq.ft.

Gross Monthly Rent

Gross Rent Multiplier

Price per Unit

Price per Room

Price per Bedroom

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

Rent Control Yes No Yes No Yes No Yes No

Data Source(s)

Verification Source(s)

VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(–) Adjustment DESCRIPTION +(–) Adjustment DESCRIPTION +(–) Adjustment

Sale or Financing

Concessions

Date of Sale/Time

Location

Leasehold/Fee Simple

Site

View

Design (Style)

Quality of Construction

Actual Age

Condition

Gross Building Area

Unit Breakdown Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths

Unit # 1

Unit # 2

Unit # 3

Unit # 4

Basement Description

Basement Finished Rooms

Functional Utility

Heating/Cooling

Energy Efficient Items

Parking On/Off Site

Porch/Patio/Deck

Net Adjustment (Total) + – + – + –$ $ $

Adjusted Sale Price

$ $ $of Comparables

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

Adjusted Price Per Room (Adj. SP Comp / # of Comp Rooms) $ $ $

Adjusted Price Per Bedrm (Adj. SP Comp / # of Comp Bedrooms) $ $ $

Value per Unit $ X Units = $ Value per GBA $ X GBA = $

Value per Rm. $ X Rooms = $ Value per Bdrms. $ X Bdrms. = $

Net Adj. %

Gross Adj. %

Net Adj. %

Gross Adj. %

Net Adj. %

Gross Adj. %

Summary of Sales Comparison Approach including reconciliation of the above indicators of value.

Indicated Value by Sales Comparison Approach $

Total gross monthly rent $ X gross rent multiplier (GRM) = $ Indicated value by the Income Approach

Comments on income approach including reconciliation of the GRM

Indicated Value by: Sales Comparison Approach $ Income Approach $ Cost Approach (if developed) $

This appraisal is made ''as is'', subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been

completed, 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 inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair:

Based on a complete visual inspection of the interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limitingconditions, 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$ , as of , which is the date of inspection and the effective date of this appraisal.

Page 3 of 7Freddie Mac Form 72 March 2005 Fannie Mae Form 1025 March 2005

J0001084 10/15J0001084 10/15

The purpose of this appraisal is to estimate the fair cash market value of the land and improvements, subject to the terms and conditions ofthis report.

The scope of the effort contains descriptive data pertaining to the property, its legal status and locational factors have been gathered frompublic sources identified in the report, as well as a personal inspection, demographic data and other support materials maintained in the officedata sources.  All information provided by others is believed to be reliable, but may or may not have been independently verified.  Other limitingconditions to this appraisal and the extent of the appraisers responsibility are set forth in the limiting conditions addenda of this report andshould be carefully considered.

Possession of the report, whether original or copy, does not carry with it the right of publication, nor may it be used for other than it's intendeduse.  It may not be used for any purposes by any person other than the client without the prior written consent and approval of the appraiser andin any event, only with the proper written qualifications and only in it's entirety.

The estimated marketing time in this appraisal is defined as "the time required to obtain an acceptable bona fide offer to purchase from anable purchaser for the property described in this appraisal, assuming that the property is offered for sale at a cash price reasonable near theappraised value stated in this report.  Also, assuming that the sale is consummated under the same constraints of time and economicconditions existing at the effective date of valuation of this report." The marketing time for the subject property should be 180 days or less.

The following is provided in order to comply with standards rule 2­3.  I 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 unbiased professional analyses, opinions and conclusions.

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.  I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.  Myengagement 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 invalue that favors the cause of the client, the amount of the value opinion, that attainment of a stipulated result or the occurrence of a subsequentevent directly related to the intended use of the appraisal.

My analysis opinions and conclusions were developed and this report has been prepared in an effort to conform with the Uniform Standards ofAppraisal Practice.

Unless otherwise indicated, I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject ofthis report within the three­year period immediately preceding acceptance of this assignment.

Form 1025 ­ "TOTAL" appraisal software by a la mode, inc. ­ 1­800­ALAMODE

Small Residential Income Property Appraisal Report File #

ADD

ITIO

NAL

CO

MM

ENTS

CO

STAP

PRO

ACH

PUD

INFO

RM

ATIO

N

COST APPROACH TO VALUE (not required by Fannie Mae)

Provide adequate information for the lender/client to replicate the below cost figures and calculations.

Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value)

ESTIMATED REPRODUCTION OR REPLACEMENT COST NEW

Source of cost data

Quality rating from cost service Effective date of cost data

Comments on Cost Approach (gross living area calculations, depreciation, etc.)

OPINION OF SITE VALUE =$

DWELLING Sq.Ft. @ $ =$

Sq.Ft. @ $ =$

=$

Garage/Carport Sq.Ft. @ $ =$

Total Estimate of Cost­New =$

Less Physical Functional External

Depreciation =$( )

Depreciated Cost of Improvements =$

"As­is" Value of Site Improvements =$

INDICATED VALUE BY COST APPROACH =$Estimated Remaining Economic Life (HUD and VA only) Years

PROJECT INFORMATION FOR PUDs (if applicable)

Is the developer/builder in control of the Homeowners’ Association (HOA)? Yes No Unit type(s) Detached Attached

Provide the following information for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit.

Legal Name of Project

Total number of phases Total number of units Total number of units sold

Total number of units rented Total number of units for sale Data source(s)

Was the project created by the conversion of existing building(s) into a PUD? Yes No If Yes, date of conversion.

Does the project contain any multi­dwelling units? Yes No Data Source

Are the units, common elements, and recreation facilities complete? Yes No If No, describe the status of completion.

Are the common elements leased to or by the Homeowners’ Association? Yes No If Yes, describe the rental terms and options.

Describe common elements and recreational facilities.

Page 4 of 7Freddie Mac Form 72 March 2005 Fannie Mae Form 1025 March 2005

J0001084 10/15J0001084 10/15

Form 1025 ­ "TOTAL" appraisal software by a la mode, inc. ­ 1­800­ALAMODE

Small Residential Income Property Appraisal Report File #

This report form is designed to report an appraisal of a two­ to four­unit property, including a two­ to four­unit property in aplanned unit development (PUD). A two­ to four­unit property located in either a condominium or cooperative projectrequires the appraiser to inspect the project and complete the project information section of the Individual CondominiumUnit Appraisal Report or the Individual Cooperative Interest Appraisal Report and attach it as an addendum to this report.

This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value,statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intendeduse, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser mayexpand the scope of work to include any additional research or analysis necessary based on the complexity of thisappraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additionalcertifications that do not constitute material alterations to this appraisal report, such as those required by law or thoserelated to the appraiser’s continuing education or membership in an appraisal organization, are permitted.

The scope of work for this appraisal is defined by the complexity of this appraisal assignment andthe reporting requirements of this appraisal report form, including the following definition of market value, statement ofassumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visualinspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of thecomparable 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.

The intended use of this appraisal report is for the lender/client to evaluate the property that is thesubject of this appraisal for a mortgage finance transaction.

The intended user of this appraisal report is the lender/client.

The most probable price which a property should bring in a competitive and openmarket under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assumingthe price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date andthe passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) bothparties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) areasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or interms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the propertysold 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 arenecessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs arereadily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financingadjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutionallender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanicaldollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate themarket’s reaction to the financing or concessions based on the appraiser’s judgment.

The appraiser’s certification in this report issubject 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 thetitle 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,including each of the units. The sketch is included only to assist the reader in visualizing the property and understanding theappraiser’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 anidentified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express orimplied, 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, thepresence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he orshe became aware of during the research involved in performing this appraisal. Unless otherwise stated in this appraisalreport, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of theproperty (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 nosuch conditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for anysuch conditions that do exist or for any engineering or testing that might be required to discover whether such conditionsexist. Because the appraiser is not an expert in the field of environmental hazards, this appraisal report must not beconsidered 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 tosatisfactory completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subjectproperty will be performed in a professional manner.

Page 5 of 7Freddie Mac Form 72 March 2005 Fannie Mae Form 1025 March 2005

J0001084 10/15J0001084 10/15

Form 1025 ­ "TOTAL" appraisal software by a la mode, inc. ­ 1­800­ALAMODE

Small Residential Income Property Appraisal Report File #

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 inthis appraisal report.

2. I performed a complete visual inspection of the interior and exterior areas of the subject property, including all units. Ireported the condition of the improvements in factual, specific terms. I identified and reported the physical deficiencies thatcould 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 AppraisalPractice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that werein 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 salescomparison and income approaches to value. I have adequate market data to develop reliable sales comparison andincome approaches to value for this appraisal assignment. I further certify that I considered the cost approach to value butdid not develop it, 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 forsale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of thesubject property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in thisreport.

6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year priorto the date of sale of the comparable sale, unless otherwise indicated in this report.

7. I selected and used comparable sales that are locationally, 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 ahome 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 thesubject 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 inthe 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 listingservices, 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 reportfrom 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 marketvalue. 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 theinspection of the subject property or that I became aware of during the research involved in performing this appraisal. I haveconsidered these adverse conditions in my analysis of the property value, and have reported on the effect of the conditionson 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, allstatements 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, whichare 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 prospectivepersonal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, myanalysis 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 oroccupants 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 notconditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) apredetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the causeof any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of apending mortgage loan application).

19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If Irelied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisalor the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in thisappraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone tomake a change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I willtake no responsibility for it.

20. I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization thatordered and will receive this appraisal report.

Page 6 of 7Freddie Mac Form 72 March 2005 Fannie Mae Form 1025 March 2005

J0001084 10/15J0001084 10/15

Stephen F. SchmedtMetro Appraisal Group, Inc.

 15812 N. Pennsylvania, Suite #2, Edmond,OK  73013

(405) 340­7003stephen@marketvalue.pro

10/14/201510/07/2015

11984SLA

OK03/31/2017

200 Harvard RdNorman, OK 73072

221,000

n/aOklahoma State Bank

900 36th Avenue NW, Suite 102, Norman, OK73044

n/a

Form 1025 ­ "TOTAL" appraisal software by a la mode, inc. ­ 1­800­ALAMODE

Small Residential Income Property Appraisal Report File #

21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of theborrower; the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; othersecondary 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 toobtain the appraiser’s or supervisory appraiser’s (if applicable) consent. Such consent must be obtained before this appraisalreport may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, publicrelations, news, sales, or other media).

22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certainlaws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practicethat 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, mortgageinsurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as partof 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 aredefined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of thisappraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable andvalid 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/orcriminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United StatesCode, Section 1001, et seq., or similar state laws.

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’sanalysis, 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 sub­contractor or an employee of the supervisory appraiser (or theappraisal 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 andpromulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisalreport was prepared.

5. If this appraisal report was transmitted as an “electronic record” containing my “electronic signature,” as those terms aredefined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of thisappraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable andvalid as if a paper version of this appraisal report were delivered containing my original hand written signature.

Signature

Name

Company Name

Company Address

Telephone Number

Email Address

Date of Signature and Report

Effective Date of Appraisal

State Certification #

or State License #

or Other (describe) State #

State

Expiration Date of Certification or License

ADDRESS OF PROPERTY APPRAISED

APPRAISED VALUE OF SUBJECT PROPERTY $

LENDER/CLIENT

Name

Company Name

Company Address

Email Address

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

Page 7 of 7Freddie Mac Form 72 March 2005 Fannie Mae Form 1025 March 2005

J0001084 10/15J0001084 10/15

200 Harvard RdNorman, OK 73072

n/a

suburban/avg.Fee Simpleatt residentialtypicaltraditionalaverage32average

2,936

4 3 2.14 3 2.1

0.000averageCentral heat/airtypical2 car gar/1 per unitpatio/porch

214 Willow Branch RdNorman, OK 730720.28 miles E

207,00082.73

103,50020,70034,500

County Records, MLSRealist

none reported

06/15suburban/avg.Fee Simpleatt residentialtypicaltraditionalaverage34 0average

2,502 +17,400

5 3 2 +2,0005 3 2 +2,000

none0averageCentral heat/airtypical2 car gar/1 per unitpatio/porch

21,40010.310.3 228,400114,20022,84038,067

4316 Harvard RdNorman, OK 730720.05 miles S

207,00087.12

103,50020,70034,500

County Records,PV PlusRealist

none reported

06/14suburban/avg.Fee Simpleatt residentialtypicaltraditionalaverage31 0average

2,376 +22,400

5 3 2 +2,0005 3 2 +2,000

none0averageCentral heat/airtypical4 car gar/2 per unit ­4,000patio/porch

22,40010.814.7 229,400114,70022,94038,233

4 5 6

4 5 6nonen/acounty records10/08/2015

nonen/acounty records10/08/2015

nonen/acounty records10/08/2015

Form 1025.(AC) ­ "TOTAL" appraisal software by a la mode, inc. ­ 1­800­ALAMODE

Small Residential Income Property Appraisal Report File #

SALE

SC

OM

PAR

ISO

NAP

PRO

ACH

SALE

HIS

TOR

YAN

ALYS

IS/C

OM

MEN

TS

FEATURE SUBJECT COMPARABLE SALE # COMPARABLE SALE # COMPARABLE SALE #

Address

Proximity to Subject

Sale Price

Sale Price/Gross Bldg. Area sq.ft. sq.ft. sq.ft. sq.ft.

Gross Monthly Rent

Gross Rent Multiplier

Price per Unit

Price per Room

Price per Bedroom

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

Rent Control Yes No Yes No Yes No Yes No

Data Source(s)

Verification Source(s)

VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(–) Adjustment DESCRIPTION +(–) Adjustment DESCRIPTION +(–) Adjustment

Sale or Financing

Concessions

Date of Sale/Time

Location

Leasehold/Fee Simple

Site

View

Design (Style)

Quality of Construction

Actual Age

Condition

Gross Building Area

Unit Breakdown Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths

Unit # 1

Unit # 2

Unit # 3

Unit # 4

Basement Description

Basement Finished Rooms

Functional Utility

Heating/Cooling

Energy Efficient Items

Parking On/Off Site

Porch/Patio/Deck

Net Adjustment (Total) + – + – + –$ $ $

Adjusted Sale Price

$ $ $of Comparables

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

Adjusted Price Per Room (Adj. SP Comp / # of Comp Rooms) $ $ $

Adjusted Price Per Bedrm (Adj. SP Comp / # of Comp Bedrooms) $ $ $

Net Adj. %

Gross Adj. %

Net Adj. %

Gross Adj. %

Net Adj. %

Gross Adj. %

Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).

ITEM SUBJECT COMPARABLE SALE # COMPARABLE SALE # COMPARABLE SALE #

Date of Prior Sale/Transfer

Price of Prior Sale/Transfer

Data Source(s)

Effective Date of Data Source(s)

Analysis of prior sale or transfer history of the subject property and comparable sales

Analysis/Comments

Freddie Mac Form 72 March 2005 Fannie Mae Form 1025 March 2005

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

Subject Photo PageNova McIlhaney Homes, LLC200 Harvard RdNorman Cleveland OK 73072Oklahoma State Bank

Subject Front

Sales PriceG.B.A.Age/Yr.Blt.

200 Harvard Rdn/a2,93632

Subject Rear

Subject Street

Borrower

Lender/Client

Property Address

City County State Zip Code

Form PICINT15 ­ "TOTAL" appraisal software by a la mode, inc. ­ 1­800­ALAMODE

Subject PhotosNova McIlhaney Homes, LLC200 Harvard RdNorman Cleveland OK 73072Oklahoma State Bank

Borrower

Lender/Client

Property Address

City County State Zip Code

Form PICPIX.CC ­ "TOTAL" appraisal software by a la mode, inc. ­ 1­800­ALAMODE

Comparable Photo PageNova McIlhaney Homes, LLC200 Harvard RdNorman Cleveland OK 73072Oklahoma State Bank

Comparable 1

Sales Price:GBA:Age:

2609 Belknap Ave213,0002,80831

Comparable 2

Sales Price:GBA:Age:

217 Monticello Rd180,0002,58431

Comparable 3

Sales Price:GBA:Age:

306 Willow Branch Rd208,0002,50234

Borrower

Lender/Client

Property Address

City County State Zip Code

Form PICPIX.CC ­ "TOTAL" appraisal software by a la mode, inc. ­ 1­800­ALAMODE

Comparable Photo PageNova McIlhaney Homes, LLC200 Harvard RdNorman Cleveland OK 73072Oklahoma State Bank

Comparable 4

Sales PriceG.B.A.Age/Yr. Blt.

214 Willow Branch Rd207,0002,50234

Comparable 5

Sales PriceG.B.A.Age/Yr. Blt.

4316 Harvard Rd207,0002,37631

Comparable 6

Sales PriceG.B.A.Age/Yr. Blt.

Borrower

Lender/Client

Property Address

City County State Zip Code

Form SKT.BLDSKI ­ "TOTAL" appraisal software by a la mode, inc. ­ 1­800­ALAMODE

Building SketchNova McIlhaney Homes, LLC200 Harvard RdNorman Cleveland OK 73072Oklahoma State Bank

Borrower

Lender/Client

Property Address

City County State Zip Code

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

Plat MapNova McIlhaney Homes, LLC200 Harvard RdNorman Cleveland OK 73072Oklahoma State Bank

Borrower

Lender/Client

Property Address

City County State Zip Code

Form MAP.LOC ­ "TOTAL" appraisal software by a la mode, inc. ­ 1­800­ALAMODE

Location MapNova McIlhaney Homes, LLC200 Harvard RdNorman Cleveland OK 73072Oklahoma State Bank

Borrower

Lender/Client

Property Address

City County State Zip Code

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

LicenseNova McIlhaney Homes, LLC200 Harvard RdNorman Cleveland OK 73072Oklahoma State Bank

Borrower

Lender/Client

Property Address

City County State Zip Code