HEADER§2.219UA2,EXTENDED_COMMENTS,OFFSCRN,UA2ADJT,CMPS46,INVOICE,OPLETTER,UCA,CERTIF2,TITLE,LOCATION,FLOODMAP,SUBPHOTO,PHOTO1,GNPHOTO1,GNPHOTO2,TEXT,EXTEND1,96060017.RPTFONTTimes New Roman FORM²"ua22602Times New Roman Complete Appraisal Analysis - Summary Appraisal Report4113fm27492-504-3161 4113 FM2727KaufmanTexas75142Tract 30, FM2727 EstatesKaufmanS1095-0052-001995(1350(N/AWillie Norma HurstLee V. StoneXX(N/AFM2727 EstatesKaufman County5076700006/25/96 N/AOmni Mortgage15150 Preston Road, Suite 245, Dallas, Texas 75248B.J. Fenoglio, SRA, GAAP.O. Box 461202, Garland, Tx. 75046X"100X45XXX 505X 12525XXX 60-8015Agric.55Subject neighborhood is considered the rural Kaufman county area. Subject is located 3 miles north of Highway 243 on the west side of FM2727.The subject has access to all the necessary support facilities, to include schools, shopping, recreation, and employment. The county seat of Kaufman is located five miles southwest, providing a variety of shops, services, and employment. A large number of residents are employed in the metroplex, an approximate 45-60 minute commute. The improvements conform well to the surrounding neighborhood. There are no adverse factors observed by the appraiser that would effect the subject's marketability. Typical transactions in the area involve financing with new first lien mortgages and assumptions of existing loans. All types of financing are available. Conventional, FHA, and VA loans are most common. Owner/Seller and bank financing are also utilized. Interest rates and point distribution vary by lender. No adjustments made in the Market Data Analysis section for seller points unless they are above the normal range for the market.N/AN/AThe subject development is not a PUD. No Survey was furnished. Acreage taken from Tax Assessors data.Gently sloped4.7 Acres XTypicalNot zoned.IrregularXAppears adequateXRuralAverageXT.U. ElectricAsphaltXCrushed rockNoneNoneTypical utilityXCollege MoundNoneXSeptic 2/500gaNoneX09/04/91NoneNone480411 0125 BNo adverse easements, encroachments, or conditions noted at time of inspection. No survey was furnished the appraiser. The lender is advised to rely on the survey for title and legal conditions. OneConcreteConcreteNoneNoneOneBrick/AvgNoneN/AAvgXDetachedComp. shingleN/AN/AAvgXTraditionalNoneN/AN/ANoneExistingThermopaneN/AN/ANo14No/YesN/AN/ANo12NoNone noted None1113211808632.001808 Cpt,Tile/AvgCentral@WBFPXBrk,ShRk,Pan/AvgElectricXScreenedXWood/AvgUnknownXX2 CarCpt,Ceramic/AvgXCoveredXFbgls,Ceramic/AvgYesX@Chain/BrbwXWood/InteriorNoX2 CarMetal/ExteriorUnknownCrush.Rock4.7 acre site with perimeter barbed wire fencing with steel posts, tank, improvements separated with chain link fencing, 23 x 37 metal barn with office area, *** See Additional Comments ***No functional or external inadequacies noted beyond normal age/life depreciation. The construction quality is typical for the area.The value estimate is based on the assumption that the property is not negatively affected by the existence of hazardous substances or adverse conditions.BJF AppraisalsTimes New Roman Complete Appraisal Analysis - Summary Appraisal Report4113fm27492-504-316119000180844.4780402The cost figures are taken from the Marshall & Swift Cost Handbook, a national cost index, Average Quality Construction, Page A-19, and local contractors. Physical depreciation is based on the age/life method. Site value is based on the review of recent land sales and site-to-total value ratios. See attached Sketch/Area Table Addendum for floor plan and square footage calculations. Subject complies with all HUD financing requirements.Out bldgs.10008.508500Fireplace/Appliances350065316.121052610292820.02058620586823424500106000105842Times New Roman Remaining Economic Life: 48 Remaining Physical Life: 484113 FM27279172 FM1485074 Highway 2431621 Dogpatch DriveKaufman, TexasTerrell, TexasKaufman, TexasTerrell, Texas10 Miles Northwest2.5 Miles South4 Miles Northeast6700010820011000010500037.0665.5851.1651.62InspectionMLS#K477964MLS#K477344MLS#K477756Agent (214) 222-2167Agent (214) 287-6005Agent (214) 524-3133Conv30yr7.5%Conv30yr8.0%Conv30yr7.58%SP=0 $102,750SP=0 $104,500SP=0 $80,000C-1/96 3/27/96C-8/95 9/15/95C-9/95 10/13/95Inside Lot/RuralInside Lot/RuralCorner Lot/RuralInside Lot/RuralFee SimpleFee SimpleFee SimpleFee Simple4.7acres/Rural5.0acres/Rural2.0acres/Rural400010.3acres/Rural-8400Rural/AvgRural/AvgRural/AvgRural/AvgTrad/AvgTrad/AvgTrad/AvgTrad/AvgBrick/AvgBrick/AvgBrick/AvgBrick/AvgA14/E12A13/SimilarA11-1650A73700AverageAverageAverageAverage632.005326327421808165031602150-68402034-4520Barn/StorageStorage500Shop/Storage30x40 BarnDays on Mkt. Days on Mkt. 60Days on Mkt.220 Days on Mkt. 23AverageAverageAverageAverageCentral H/ACentral H/ACentral H/ACentral H/AInsul/Cf's/Therm.Insul/Cf's/Therm.Insul/Cf's/Therm.Insul/Cf's/Therm.2 Gar/2 Carport2 Garage/None10002 Gar/2 CarportNone/None6000Cvd/ScreenedCvd/Cvd500Cvd/Cvd500Cvd/Cvd/DeckWBFPWBFPWBFPWBFPFenceFenceNone500FenceAppliances@Ro,Dw,Ds,Vh,Mw@Ro,Dw,Ds,Vh,Mw@Ro,Dw,Ds,Vh,MwRo,Dw,Ds,VhX 5160X -3490X -32204.7712.2621.544.77113360-3.17106510-3.07101780The comparables analyzed above represent homes of similar quality construction and location. Adjustments applied to dissimilarities in square footage of living area at ($20.00SF), bedrooms, and bathrooms. A discussion of the adjustments applied to each of the comparable sales is included in the Additional Comments Addendum.N/AN/AN/AN/ATax AssessorTax AssessorTax AssessorTax AssessorN/AN/AN/AN/APrior sales of the comparable properties occurred more than one year ago. The subject's current and prior sales prices are consistent with the above sales analysis.106000 N/AN/AXThe appraisal is made "as is". The GRM Method was considered, but was not used due to a lack of available and reliable lease data. *** See Additional Comments ***Sales utilized are from rural Kaufman county areas similar to the subject. *** See Additional Comments ***06/93June 25, 1996106000 B.J. Fenoglio, SRA, GAAJune 27, 1996TX-1322675-GTXBJF AppraisalsFORMG Extended_Comments240Times New Roman ADDITIONAL FEATURES12.25 x 12.25 storage building, attached two car garage and two carport, 11.5 x 15 screened patio, ceramic tiled entry, fireplace hearth, and kitchen, island breakfast bar, trash compactor, large utility & storage area, seven ceiling fans, storm doors, exterior fireplace cleanout. Times New Roman COMMENTS ON SALES COMPARISONSite differences were adjusted at $1,500 per acre. This derived from recent land sales and land to improvements ratios. Age differences adjusted at .5% of the sales price times the age difference. Auto storage differences adjusted at the market extracted rate of $500 per covered space and $2,500 per enclosed space. Other feature differences adjusted at recognized market values. Times New Roman CONDITIONS OF APPRAISALThe appraisal is made "as-is" except for repairs required within the VC sheet in the addendum. Repairs listed are items #3. The GRM method was considered, but not used due to a lack of available and reliable lease data. Times New Roman FINAL RECONCILIATIONThe comparables bracket the subject by square footage and site size with homes of similar construction quality and functional utility. Two sales are over six months but within one year. These sales are more representative of subject and the rural Kaufman market than some later available that would require adjustments above recommended Fannie Mae guide lines. Subject's market has maintained stable values over the past twelve months with some appreciation, but as yet no time adjustment required. All the sales were given equal consideration in the overall value estimate. However sale #2 was given the most weight in the final valuation process for being from subject's immediate area. The adjusted value estimates ranged from $101,780 to $113,360. Their mean and median values are $107,217 and $107,570 respectively with more weight placed on sale #2 of $106,510. The GRM Method was considered but not used due to a lack of available and reliable lease data. The final value estimate is based on the Sales Comparison Approach and is supported by the Cost Approach. Based on the above considerations and analysis, it is this appraisers opinion that the Estimated Market Value of the subject property as of June 25, 1996 is $106,000. Note to the underwriter: Garage pictured in comparable #3 photo was an addition after the sales date. Market value is well above sales price. The owner set the sales price low to expedite a sale. Subject marketed less than two weeks. FORM“offscrn5112X4113fm27URAR : Mac 70Summary Appraisal492-504-3161Willie Norma Hurst4113 FM2727KaufmanKaufmanTexas75142Tract 30, FM2727 Estates106000June 25, 1996OMNI400.00Omni Mortgage15150 Preston RoadSuite 245Dallas, Texas 75248Ms.MichelleRoberts06/24/9606/27/9606/25/9606/27/96XB.J. Fenoglio, SRA, GAAXTX-1322675-GTX03/31/98XJune 27, 1996BJF AppraisalsFORM…ua2adjt11054113fm2796060017Willie Norma Hurst4113 FM2727KaufmanKaufmanTexas75142Omni Mortgage606020.00XBJF AppraisalsFORM¼cmps4612724113fm2796060017Willie Norma Hurst4113 FM2727KaufmanKaufmanTexas75142Omni Mortgage4113 FM2727Kaufman, Texas 67000 37.06Inspection Inside Lot/Rural Fee Simple 4.7acres/Rural Rural/Avg Trad/Avg Brick/Avg A14/E12 Average632.00 1808 Barn/Storage Days on Mkt.  Average Central H/A Insul/Cf's/Therm. 2 Gar/2 Carport Cvd/Screened WBFP Fence Appliances @Ro,Dw,Ds,Vh,Mw      BJF AppraisalsFORM5invoice182Times New Roman BJF Appraisals07-02-96492-504-3161Times New Roman 4214 Cheyenne DriveTimes New Roman Rowlett, Texas 75088Times New Roman (214) 475-4508Omni Mortgage15150 Preston RoadSuite 245Dallas, Texas 75248Attention: Ms. Michelle RobertsAPPRAISAL FEE FOR SERVICES RENDERED400.00Borrower: Willie Norma Hurst4113 FM2727Kaufman, Texas 75142Tract 30, FM2727 Estates400.00BJF AppraisalsFORM¨opletter246Courier NewBJF AppraisalsCourier New 4214 Cheyenne DriveCourier New Rowlett, Texas 75088Courier New (214) 475-4508July 2, 1996Omni Mortgage15150 Preston RoadSuite 245Dallas, Texas 75248Property -4113 FM2727Kaufman, Texas 75142Borrower -Willie Norma HurstFile No. - 492-504-3161Case No. - 4113fm27Dear Ms. RobertsIn accordance with your request, I have personally inspected, made a Complete analysis, and prepared a Summary Appraisal of the real property located at 4113 FM2727, Kaufman, Texas.The purpose of this Summary Appraisal is to estimate the market value of the property described in the body of this report.Enclosed, please find the Summary Appraisal report which describes certain data gathered during our investigation of the property. The methods of approach and reasoning in the valuation of the various physical and economic factors of the subject property are contained in this report.An inspection of the property and a study of pertinent factors, including valuation trends and an analysis of neighborhood data, led the appraiser to the conclusion that the market value, as of June 25, 1996 is :$106000The opinion of value expressed in this report is contingent upon the Limiting Conditions attached to this report.It has been a pleasure to assist you; if I may be of further service to you in the future, please let me know.Respectfully submitted,BJF AppraisalsB.J. Fenoglio, SRA, GAATX Certification #TX-1322675-GFORM‚uca1774113fm27492-504-3161Willie Norma Hurst4113 FM2727KaufmanKaufmanTexas75142Omni MortgageThe purpose or function of this appraisal is to estimate the Market Value of the subject property for the purpose of obtaining financing.The scope of this appraisal means the extent of the process of collecting, confirming, analyzing, and reporting data. We were contacted by the client, identified on page one of the report, to prepare an opinion onnthe current Market Value and conditions of the subject propertry. As previously mentioned, the function of this appraisal is to assist the client in the avaluation of the property.XX3-6 months.XN/ASee attached limiting conditions.The State of Texas is a non-disclosure state and recording of actual sales price is not made public or recorded in public records. Sales have to be confirmed through a dependable and reliable source such as a real estate agent, appraiser, seller, buyer, agencies, or multiple listing services.June 27, 1996B.J. Fenoglio, SRA, GAABJF AppraisalsFORMïcertif21204113fm27492-504-31614113 FM2727, Kaufman, Texas 75142B.J. Fenoglio, SRA, GAAJune 27, 1996TX-1322675-GTX03/31/98BJF AppraisalsFORM6title360Arial SUMMARY APPRAISAL OFArial THE PROPERTY LOCATED AT4113 FM2727Kaufman, Texas 75142Arial as ofJune 25, 1996Arial forOmni Mortgage15150 Preston RoadSuite 245Dallas, Texas 75248Arial byBJF Appraisals4214 Cheyenne DriveRowlett, Texas 75088FORM¾location2114113fm27492-504-3161‚Arial LOCATION MAPWillie Norma Hurst4113 FM2727KaufmanKaufmanTexas75142Omni MortgageBJF AppraisalsFORM»floodmap2114113fm27492-504-3161‚Arial FLOOD MAPWillie Norma Hurst4113 FM2727KaufmanKaufmanTexas75142Omni MortgageBJF AppraisalsFORMqsubphoto2174113fm27492-504-3161‚Arial PHOTOGRAPH ADDENDUMWillie Norma Hurst4113 FM2727KaufmanKaufmanTexas75142Omni MortgageArial FRONT VIEW OFArial SUBJECT PROPERTYArial REAR VIEW OFArial SUBJECT PROPERTYArial STREET SCENE OFArial SUBJECT PROPERTYBJF AppraisalsFORM photo12744113fm27492-504-3161‚Arial PHOTOGRAPH ADDENDUMWillie Norma Hurst4113 FM2727KaufmanKaufmanTexas75142Omni MortgageArial COMPARABLE #19172 FM148Terrell, Texas(Price($108200Price/SF(65.58Date(@C-1/96 3/27/96Age(A13/SimilarRoom Count(5-3-2Living Area(1650(Times New RomanValue Indication($113360Arial COMPARABLE #25074 Highway 243Kaufman, Texas(Price($110000Price/SF(51.16Date(@C-8/95 9/15/95Age(A11Room Count(6-3-2Living Area(2150(Times New RomanValue Indication($106510Arial COMPARABLE #31621 Dogpatch DriveTerrell, Texas(Price($105000Price/SF(51.62Date(@C-9/95 10/13/95Age(A7Room Count(7-4-2Living Area(2034(Times New RomanValue Indication($101780BJF AppraisalsFORMYgnphoto12684113fm27492-504-3161‚Arial PHOTOGRAPH ADDENDUMWillie Norma Hurst4113 FM2727KaufmanKaufmanTexas75142Omni MortgageTimes New Roman SUBJECTScreened PatioTimes New Roman SUBJECTCarportm & GarageTimes New Roman SUBJECTMetal BarnBJF AppraisalsFORM(gnphoto22684113fm27492-504-3161‚Arial PHOTOGRAPH ADDENDUMWillie Norma Hurst4113 FM2727KaufmanKaufmanTexas75142Omni MortgageTimes New Roman SUBJECTLiving RoomTimes New Roman SUBJECTKitchenBJF AppraisalsFORMGTEXT11704113fm27492-504-3161‚Arial PLAT MAPWillie Norma Hurst4113 FM2727KaufmanKaufmanTexas75142Omni MortgageBJF Appraisals4113fm27492-504-3161‚Arial PLAT MAPWillie Norma Hurst4113 FM2727KaufmanKaufmanTexas75142Omni MortgageBJF AppraisalsFORMŸEXTEND11104113fm2796060017Willie Norma Hurst4113 FM2727KaufmanKaufmanTexas75142Omni MortgageBJF Appraisals