The URL can be used to link to this page

RC-11-901Inspection Worksheet Miami Shores Village 10050 N.E. 2nd Avenue Miami Shores, FL Phone: (305)795 -2204 Fax: (305)756 -8972 Inspection Number: INSP- 168117 Permit Number: RC -5 -11 -901 Scheduled Inspection Date: December 22, 2011 Permit Type: Residential Construction Inspection Type: Final Building Owner: BARBARA BONDRA, RANDALL KING Work Classification: Alteration Job Address: 10634 NE 10 Place Inspector: Bruhn, Norman Miami Shores, FL 33138- Project: <NONE> Contractor: MACROS CONSTRUCTION & SERVICES Phone Number Parcel Number 1122320280850 Phone: (954)632 -9877 Building Department Comments ENLARGE MASTER BEDROOM CLOSET. WOOD FRAMING AND DRYWALL WORK. CEILING LIGHT TO BE RELOCATED Inspector Comments Failed Correction Needed Re- Inspection Fee No Additional Inspections can be scheduled until re- inspection fee is paid. December 21, 2011 For Inspections please call: (305)762 -4949 Page 25 of 25 (10. ► Miami. Shores Village ni 4,6 ° ' 145-- Building Department L pp� *� 10050 N.E.2nd Avenue, Miami Shores, Florida 33138 l� N Tel: (305) 795.2204 Fax: (305) 756.8972 Cr tot �i 'J ' SPECTION'S PHONE NUMBER: (305) 762.4949 BUILDING 1.7 I� y , �- Permit No. 11 � I PERMIT APPLICATION t -- > � Master Permit No. �IAY 2011 L' BY: �� .. FBC 20 LoiM Permit Type: Electrical OWNER: Name (Fee Simple Titleholder): Rani Gl- /1 C / '1 o ni Phone #: 71 7 -- 3 r5 - 7 !/ 95-3 Address: )QLp.1L/ /7. . /0 PlQee City: al ; a jr) I S h 0 re5 State: T L Zip: 3 31 3 g Tenant/Lessee Name: 11 / Phone #: E m a i l : i^ 00.11 C P12% fly JG rnra I Co fin JOB ADDRESS: J C7 CO 3 (j i. e, I D-1-41 P )ae e City: Miami Shores County: Miami Dade Zip: Folio/Parcel #: Is the Building Historically Designated: Yes NO Flood Zone: CONTRACTOR: Company Name: in P. e /? O S / Q /1 S -true i0f 1.S fra Phone #: 9 $ (,34' W77 Address: 1 g to 9 71 (,t� "a ,1Q (A) CL City: P 'e rn b r a 1 ti e ' f1'e3 State: T L Zip: Qualifier Name: C kg 1-D -R k O Phone #: 33 o a q State Certification or Registration #: cGC 15 t f C Certificate of Competency #: Contact Phone #: / 5 ) - 63 2- / r l 7- Email Address: Col aG LQ.4 6 AZ-v- S c-9 r' fro c4 i o vk o'‘ DESIGNER: Architect/Engineer: Phone #: Value of Work for this Permit: $ /50 0, v 0/.10" Square/Linear Footage of Work: 70S5:5 , /,+-. ONew ORepair/Replace I ` ❑Demolition Description of Work: �iI.1ci r q e_, mas�-Cr b e Grrcd1 C /eS el, I� > OO& 11lami'/lei /1J �� i 1 y' � i115 r %ce J i/ ee-tr; e_; a n Under 5 epc ra.t-e per ; t. Type of Work: ❑Address 1 (Alteration * * ** m** * *** ***** * * * ** * ***x:****** ** Fees ****** * * **x:***** * *** * * **** * * * * ***** * * *** * ** Submittal Fee $ '"\J Permit Fee $ C4C)c.1 CCF $ CO /CC $ Scanning Fee $ Radon Fee $ DBPR $ Bond $ Notary $ Training/Education Fee $ Double Fee $ Structural Review $ Technology Fee $ TOTAL FEE NOW DUE $ I 7 91 Bonding Company's Name (if applicable) Bonding Company's Address City State Zip Mortgage Lender's Name (if applicable) n / R Mortgage Lender's Address City State Zip Application is hereby made to obtain a permit to do the work and installations as indicated. I certify that no work or installation has commenced prior to the issuance of a permit and that all work will be performed to meet the standards of all laws regulating construction in this jurisdiction. I understand that a separate permit must be secured for ELECTRICAL WORK, PLUMBING, SIGNS, WELLS, POOLS, FURNACES, BOILERS, HEATERS, TANKS and AIR CONDITIONERS, ETC OWNER'S AFFIDAVIT: I certify that all the foregoing information is accurate and that all work will be done in compliance with all applicable laws regulating construction and zoning. "WARNING TO OWNER: YOUR FAILURE TO RECORD A NOTICE OF COMMENCEMENT MAY RESULT IN YOUR PAYING TWICE FOR IMPROVEMENTS TO YOUR PROPERTY. IF YOU INTEND TO OBTAIN FINANCING, CONSULT WITH YOUR LENDER OR AN ATTORNEY BEFORE RECORDING YOUR NOTICE OF COMMENCEMENT." Notice to Applicant: As a condition to the issuance of a building permit with an estimated value exceeding $2500, the applicant must promise in good faith that a copy of the notice of commencement and construction lien law brochure will be delivered to the person whose property is subject to attachment. Also, a certified copy of the recorded notice of commencement must be posted at the job site for the first inspection which occurs seven (7) days after the building permit is issued. In the a • • ence of such posted notice, the inspection will not be approved and a reinspection fee will be charged. Owner or Agent g The foregoing instrument was acknowledged before me this 1 3'77 The foregoing instrument was acknowledged before me this / 301 day of _ . , 20 l l , by , day of nricea , 20 V , by Signature ./ Contractor who is h As id y :�•,1 Nv�h° e ath. c+� Notary u IC • fete 0 Fioride 3 N • My Commission Expires Jan 27, 2012 • 9. o-` Commission # DD 752149 /�' n F� °P�` Boni: J 'ughNatio .- otary Assn. Air• 1. Print: OD r -Vl t •e fJ • (A n 11 My Commission Expires: / j NOTARY PUBLIC: Sign: a71 aria or who has produced d who did take an oath. CONNIEccJ��,,GU srata of Florida "7a, tri:° 9, .��` a`�; C mm ^ Ezpir� Jan 27, 2Q12 %Q;,;;° , I Ion Bond_. DD 752149 Print: My Commission Expires: �/DT? I aaicz APPROVED BY -d -7T1/ Plans Examiner Zoning Structural Review Clerk (Revised 07 /10 /07)(Revised 06 /10 /2009)(Revised 3/15/09) 2011 -06 -27 09:12 MACROS CONSTRUCTION 9549867481 1 800 685 7530 P 1/4 NI lami Shores Village Building Department 10050 N.E.2nd Avenue Miami Shores, Florida 33138 Tel: (305) 795.2204 Fax: (305) 756.8972 CONTRACTORS' REGISTRATION FORM ALL CONTRACTORS MUST PROVIDE COPIES OF LICENCES AND INSURANCES EACH TIME A PERMIT IS SUBMITTED OR THE VILLAGE MAY MAINTAIN A FILE WITH YOUR INFORMATION FOR A $30.00 FEE PER YEAR. IF CONTRACTOR IS A FLORIDA STATE CERTIFIED CONTRACTOR: A. ...✓ COPY OF QUALIFIER'S STATE LIC CARD B. . ✓ COPY OF LOCAL BUSINESS TAX RECEIPT 6k4 ..td „,, C. COPY OF LIABILITY INSURANCE (CERTIFICATE HOLDER TO BE MIAMI SHORES VILLAGE BLDG DEPT] ' co N "% D. COPY OF WORKERS COMPENSATION (EITHER CERTIFICATE OR EXCEMPTIONI IF CONTRACTOR HAS A MIAMI DADE COUNTY CERTIFICATE OF COMPETENCY: A. COPY OF CERTIFICE OF COMPETENCY OF QUALIFIER B. COPY OF MIAMI DADE COUNTY MUNICIPAL CONTRACTORS TAX RECEIPT C. COPY OF LIABILITY INSURACE (CERTIFICATE HOLDER MUST BE MIAMI SHORES VILLAGE BLDG DEPT D. COPY OF WORKER COMP INSURANCE (EITHER CERTIFICATE OR EXEMPTION) YOUR INSURANCE COMPANY MUST ISSUE A CERTIFICATE HOLDER AS FOLLOW: MIAMI SHORES VILLAGE BLDG DEPT 10050 NE 2ND AVE MIAMI SHORES, FL 33138 COMPLETE CONTRACTOR'S INFORMATION BUSINESS NAME: /11,4-CrOS codS'ack flJ /1j ee$- BUSINESS ADDRESS: Igo 1jT Y CITY P6iigeoge PI!Es STATE L ZIP CODE 3302y- . BUSINESS PHONE: (ii.5 ` ) ‘32-101 FAX NUMBER (75/) 9KC'' 7 `fig/ CELL PHONE (___ ) QUALIFIER'S NAME:edi G;>.s mitgid fj:f:: QUALIFIER'S LIC NUMBER: C CC /5 I' 6 0 ) E -MAIL ADDRESS (IF APPLICABLE): C N9 ac. La/0d) Ira $ et) notrvei% et., erok Crated on 8119109 BY ■LDV I RV 8M8l09 ULDV 2011 -06 -27 09:13 MACROS CONSTRUCTION 9549867481 » 1 800 685 7530 STATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION CONSTRUCTION INDUSTRY LICENSING BOARD 1940 NORTH MONROE STREET TALLAHASSEE FL 32399 -0783 MACHADO CARLOS ALFREDO MACROS CONSTRUCTION AND SERVICES INC 1869 NW 72ND WAY PEMBROKE PINES FL 33024 Congratulations! With this license you become one of the nearly one million Floridians licensed by the Department of Business and Professional Regulation. Our professionals and businesses range from architects to yacht brokers, from boxers to barbeque restaurants, and they keep Florida's economy strong. Every day we work to improve the way we do business in order to serve you better. For information about our services, please log onto www_myfloridalicense.com. There you can find more information about our divisions and the regulations that impact you, subscribe to department newsletters and learn more about the Department's initiatives. Our mission at the Department is: License Efficiently. Regulate Fairly. We constantly strive to serve you better so that you can serve your customers. Thank you for doing business in Florida, and congratulations on your new license! DETACH HERE AC41 51OE87S P 2/4 (850) 487 -1395 STATE OF FLORIDA AC# 51081 DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION CGC1514601• 08/20/1.0 1080216. CERTIFIED ,QE SSRAL • COWrRACTOR MACHADO, CARLOS. • ALFREDO MACROS CO '1!RuC.TXON AND SERVIC: IS CRRVIPIRD a nder the previa /ens of eh.489 aspiration data= AUG 31, 2012 L1008200153' STATE OF FLORIDA DEPARTMENT OF. BUSINESS .AND . PROFESS• •OVAL .REGULATION CONSTRUCTION INDUSTRY•LICENSINI BOARD SECW r xo08200as: 04,1.w DATE BATCH NUMBER 108021635: The • G 'R L. 'CO NTRACTCili ' Named below IS CERTIFIED' Under the provisions of . Chapter•.:} 8; ;: 10.S Expiration date: AUG 31, 2012 ' ".:' .�:.•••••• LICENSE 'NBR MACHADO, CARLOS ALFREDO MACROS CONSTRUCTION AND SERVICES.:•iN� 1869 NW 72ND WAY PEMBROKE PINES FL 33024 CHARLIE CRIST GOVERNOR DISPLAY AS REQUIRED BY LAW CHARLIE LIEM SECRETARY 2011 -06 -27 09:13 MACROS CONSTRUCTION 9549867481 » 1 800 685 7530 P 3/4 115 S. Andrews Ave., Rm. A -100. Ft. Lauderdale, FL 33301 -1895 — 954 - 831 -4000 VALID OCTOBER 1, 2010 THROUGH SEPTEMBER 30, 2011 DBA: Business Name: MMACROS CONSTRUCTION AND SERVICES Owner Name: CARLOS ALFREDO MACHADO Business Location: 1869 NW 72 WAY PEMBROKE PINES Business Phone: Rooms Seats Employees 1 Receipt #:180-8033 Business Type:GENERAL CONTRACTOR (CERT GENERAL CONTRACTOR) Business Opened:12 /05/2007 State /County /Cert/Reg:coca sia 601 Exemption Code:NONEXEMPT Machines Professionals For Vending fluidness Only Number of Machines: Vending Type: Tax Amount Transfer Fee NSF Fee Penalty Prior Years Collection Cost Total Paid 27.00 0.00 0.00 0.00 0.00 0.00 27.00 THIS RECEIPT MUST BE POSTED CONSPICUOUSLY IN YOUR PLACE OF BUSINESS THIS BECOMES A TAX RECEIPT WHEN VAUDATED Mailing Address: CARLOS ALFREDO MACHADO 1869 NW 72 WAY PEMBROKE PINES, FL 33024 This tax Is levied for the privilege of doing business within Broward County and is non - regulatory in nature. You must meet all County and/or Municipality planning and zoning requirements. This Business Tax Receipt must be transferred when the business Is sold, business name has changed or you have moved the business location. This receipt does not indicate that the business is legal or that it Is In compliance with State or local laws and regulations. _. _ __ ...2010 - 2011 Receipt: #05C- 09- 00027156 Paid 08/05/2010 27.00 _ 2U11- u5- '27- UsJ:14 MACKU5 CON5I KUL l ION 9b4986/481 » 1 MU 6135 /53U 4Q • 4 AbV ♦b., Yl rr 11 -17 -2009 ALEX SINK STATE OF FLORIDA CHIEF FINANCIAL OFFICER DEPARTMENT OP FINANCIAL SERVICES DIVISION OF WORKERS' COMPENSATION * * CERTIFICATE OF ELECTION TO BE EXEMPT FROM FLORIDA WORKERS' COMPENSATION LAW CONSTRUCTION INDUSTRY EXEMPTION This certifies that the individual listed below has elected to be exempt from Florida Workers' Compensation law, EFFECTIVE DATE: PERSON: 11/17/2009 EXPIRATION DATE: 11/17/2011 MACHADO FEIN: 260845060 BUSINESS NAME AND ADDRESS: MACROS CONSTRUCTION AND SERVICES INC 1609 NW 72ND WAY PEMBROKE PINES FL 33024 SCOPES OF BUSINESS OR TRADE: 1- CERTIFIED GENERAL CONTRACTOR CARLOS A N 4/4 * * IMPORTANT: Pelson' to Chapter 64n . 65011, r.S., an calker al a corporation who Cirrtt revmptipn from Ibis Cbaplel by lilinq a milliliter of elestiOI undo. Oils semen may net tecover benefits or epmpensation untie Ibis, chapter. Pursuant to Chapter 44r1.11M1I1. 1,h., Conttrcoles of election to be exetnot.., sooty poly Oltain Ibe utM• of the husioos% p. teedc li•lyd on the holism sl elesfien In be exempt. hair/out to Chaplet 140 05(131. r S • Notice: of electron tr. hr aasmpl and rerliliralrs of Merlin to by rarmpl shalt tea tubjert It, rr/oration if. et sey lima eller the Wing 01 titt nplrto dl the issuance of the cerlitical• Ike prison earned on Hie notice or trrtliicole no laegar meats the requirements of this aaclisn for issuance of a rrrlilirsti' The delraiIuieet LASH leaoke s taelllisale it soy time lot Isilate el the 1totsbn totted on the cetliliratn in m.rl the rsquitaments Cl thus section. QUESTIONS? (8501 413-1609 DWC -252 CERTIFICATE OF ELECTION TO BE EXEMPT REVISED 05.06 PLEASE CUT DUT THE CARD BELOW AND RETAIN FOR FUTURE REFERENCE STATE OF FLORIDA DEPARTMENT OF FINANCIAL SERVICES DIVISION OF WORKERS' COMPENSATION CONSTRUCTION INDUSTRY CERTIFICATE DP ELECTION TO SE EXEMPT FROM FLORIDA WORKERS' COMPENSATION LAW EFFECTIVE 11/17/2009 EXPIRATION DATE; PERSON: CARLOS A MACHADO FEIN: 250545080 BUSINESS NAME AND ADDRESS: MacFOS CentcTRJCT•04 ARO kliVIcLS ••c toes vW ; 7Nf, WAY PCMBROtt PIKES, tt ItSt2c SCOPE OF BUSINESS OR TRADE: t rERT■FIFr; GLYC,14. C UN•NLL'OR IMPORTANT OF Pursuant to Chapter 440.05(14), F,S., an officer of a corporation who elects exemption from this chapter by filing a certificate of election L under this section may not recover benefits or compensation under this D chapter. 11/17/2011 H E R E Pursuant to Chapter 44005(121, F.S., Certificates of election to be exempt... apply only within the scope of the business or trade listed on the notice of election to be exempt. Pursuant to Chapter 440,05(13), F.S., Notices of election to he exempt and ceruftrates of election to be exempt shall be subject to revneation If, at any time alter the filing of the notice or the issuance of the certificate, the person named on the notice or certificate no longer meets the requirements of this section for innate of a certificate, The department shell revoke a certificate at any time for failure of the person named on the certificate to meet the requirements of this section. QUESTIONS? 4850) 413 -1609 CUT HERE Carry bottom portion on the job, keep upper portion for your records. DWC ^252 CERTIFICATE Or ELECTION TO BE EXEMPT REVISED 09 -06 CERTIFICATE OF LIABILITY INSURANCE Date I 6/27/2011 Producer: ' Lion Insurance Company 2739 U.S. Highway 19 N. Holiday, FL 34691 (727) 938 -5562 This Certificate Is issued as a matter of information only and confers no rights upon the Certificate Holder. This Certificate does not amend, extend or alter the coverage afforded by the policies below. Insurers Affording Coverage NAIC it Insured: South East Employee Leasing Services, Inc. 2739 U.S. Highway 19 N. Holiday, FL 34691 Insurer A: Lion Insurance Company 11075 Insurer B: Insurer C: Insurer D: Insurer E: Coverages The policies of insurance listed below have been issued to the insured named above for the policy period indicated. Notwithstanding any requirement, term or condition of any contract or other document with respect to which this certificate may be issued or may pertain, the insurance afforded by the policies described herein is subject to all the terms, exclusions, and conditions of such policies. Aggregate limits shown may have been reduced by paid claims. INSR LTR ADDL INSRD Type of Insurance Policy Number Policy Effective Date ( MM/DD/YY) Policy Expiration Date (MM/DD/YY) Limits GENERAL LIABILITY Commercial General Liability Claims Made Occur Each Occurrence $ Damage to rented premises (EA occurrence) $ Med Exp $ Personal Adv Injury $ General aggregate limit applies per: D Policy ❑ Project ❑ LOC General Aggregate $ Products - Comp /Op Agg $ AUTOMOBILE LIABILITY Any Auto All Owned Autos Schedtrled Autos Fired Autos Non -Owned Autos Combined Single Limit (EA Accident) $ Buddy Injury (Per Person) $ Bodily Injury (Per Accident) $ Property Damage (Per Accident) $ EXCESS /UMBRELLA LIABILITY Occur ❑ Claims Made Deductible Each Occurrence Aggregate A Workers Compensation and Employers' Liability Any proprietor /partner /executive officer /member excluded? If Yes, describe under special provisions below. WC 71949 01/01/2011 01/01/2012 X I Cory Statu- I OTH- I ER E.L. Each Accident $1,000,000 E.L. Disease - Ea Employee $1,000,000 E.L. Disease - Policy Limits $1,000,000 Other Lion Insurance Company is A.M. Best Company rated A- (Excellent). AM B # 12616 Descriptions of Operations /Locations/Vehicles /Exclusions added by Endorsement/Special Provisions: Client ID: 24-65 -399 Coverage only applies to active employee(s) of South East Employee Leasing Services, Inc. that are leased to the following "Client Company": Macros Construction and Services, Inc. Coverage only applies to injuries incurred by South East Employee Leasing Services, Inc. active employee(s) , while working in Florida. Coverage does not apply to statutory employee(s) or independent contractor(s) of the Client Company or any other entity. A list of the active employee(s) leased to the Client Company can be obtained by faxing a request to (727) 937 -2138 or by calling (727) 938 -5562. Project Name: FAX: 954-986 -7481 & 305 - 756 -8972 / ISSUE 06 -27 -11 (TD) Begin Date: 8/11 /2010 CERTIFICATE HOLDER CANCELLATION VILLAGE OF MIAMI SHORES BUILDING DEPARTMENT 10050 NE 2ND AVENUE MIAMI SHORES, FL 33138 Should any of the above described policies be cancelled before the expiration date thereof, the issuing insurer will endeavor to mail 30 days written notice to the certificate holder named to the lett, but failure to do so shall impose no obligation or liability of any kind upon the insurer, its agents or representatives. r,„4-2/5;t3-409.01-......a.,- 06/28/2011 15:03 ADVANTAGE INSURANCE OF AMERICA (FAX)3056495559 P.001/001 OR�1�, CERTIFICATE OF LIABILITY INSURANCE OATE(MANOD/YYYY) 6/28/2911 INFORMATION CERTIFICATE EXTEND OR BELOW. TYPE OP INSURANCE PRODUCER ADVANTAGE INSURANCE OF AMERICA 4520 NW 7th St Miami, FL 33126 (305)649 -5566 THIS CERTIFICATE IS ISSUED AS A MATTER OF ONLY AND. CONFERS NO RIGHTS UPON THE HOLDER. THIS CERTIFICATE DOES NOT AMEND, ALTER THE COVERAGE AFFORDED BY THE POLICIES INSURERS AFFORDING COVERAGE NAIC# INSURED MACROS CONSTRUCTION & SERVICES,INC 1869 NW 72 WAY PEMBROKE PINES, FL 33024 I INSURER A! SIC CASUALTY :INSURANCE CO INSURER B: LIASIUTY COMMERCIAL GENERAL LIABILITY INSURER C. _ S INSURER D: INSURER E: MEDEXP(Arty ons parson) THE ANY MAY POLICIES. IT= POLICIES REQUIREMENT, PERTAIN, OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH AGGREGATE LIMITS SHOWN MAY HAVE BEEN REDUCED SY PAID CLAIMS. TYPE OP INSURANCE POLICY NUMBER EMETZE/YYt E 04/12/11 NSIO�jy�yOj N 04/12/12 LIMITS EACH OCCURRENCE $ 1.000,000 S S. 50_, 009 A GENERAL LIASIUTY COMMERCIAL GENERAL LIABILITY L174000496 -0 X IgEg ht.) CLAIMSMADE X OCCUR MEDEXP(Arty ons parson) $ 1,400 $ 1,000,000 $ 2- 0 .00 , 000 PERSONAL&ADVINJURY GENERAL AGGREGATE GEN'LAGGREGATE LIMIT APPLIES PER: PRODUCTS- OOMP/OPAGG $ 1,000.000 7 POLICY 7 •PEC I I AUTOMOBILE L1ABU.ITY AliOWMMAIMEI SCHEDULED AUTOS HIRED AUTOS NON•OWNEDAUiOS (COMBINED SINGLE LIMIT $ — Ter peS) RY $ _ — — $OpILY Y (Peru! $ PROPERTY )DAMAGE $ --^ GARAGE LIABILITY ANYAUTO AUTO ONLY- EA ACCIDENT $ OTHER THAN EAACC S AUTOONLY: AGO $ EXOEBBtUMBRELLA LIABILITY EACH OCCURRENCE $ OCCUR CLAIM$MADE _ AGGREGATE $ DEDUCTIBLE RETENTION $ $ $ $ WORKERSCOMPENSATIONAND EE141PLOYDiB LUIBILI C � ANY P TN OfMI EXC UD�t �e8 TP66AL PROVIISSIONS bele* TQRYLIMIfB I I° EL. EACH ACCIDENT $ EL DISEASE - E4 EMPLOYES $ _ EL DISEASE • POLICY LIMIT $ OTHER DESCRIPTION OP OPERATIONS/ LOCATIONS /VEHICLEs/ EXCLUSIONS ADDED BY ENDORSEMENT/ BPECLALPROVIBION$ REMODELING, CONTRACTORS - SUBCONTRACTORS WORK, CONSTRUCTION, RECONSTRUCTION, REPAIR OR ERECTION BUILDINGS CERTIFICATE HOLDER CANCELLATION MIAMI SHORES VILLAGE BLDG DEPT 10050 N.E.2nd Avenue Miami Shores, Florida 33138 ACORD28 (20ovo8) SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, THE ISSUING INSURER WILL ENDEAVOR TO MAIL10 DAYS WRITTEN NOTICE TO THE CERTIFICATE HOLDER NAMED TO THE LEFT. BUT FAILURE TO DO SO SHALL IMPOSE NO OBLIGATION OR LIABILITY OF ANY KIND UPON THE INSURER, ITS AGENTS OR REPRESENTATIVES. AUTHORIZED REP RD CORPORATION 19115 CUMULATIVE SUBSTANTIAL IMPROVEMENT VERIFICATION WORK SHEET In accordance with FEMA regulation and Miami Shores Village Flood Damage Prevention Ordinance the costs of all improvements must be monitored. The costs of any improvements in the past 12 months and the costs of any proposed improvements must be shown on the worksheet. The cost of improvements must include demolition, raw and finished materials (include those donated), labor (including volunteer and self - performed), construction supervision and management, and overhead and profit. A list of items the costs of which are to be included as well as those excluded is attached for your reference. (A Copy of the Contract must be attached) PROPERTY OWNER: /9 Ce od c.. /l (1 16( f) 9 PERMIT # ADDRESS: / O (03 c/ d"% r / U - P/a N m ,Shores . 1.. 33138' FOLIO NUMBER: I l 'r L (9-3 a "C) — ) FLOOD ZONE: BASE FLOOD ELEVATION: FREEBOARD: EAST OF FL.CCCL: I) (7 COST OF PAST IMPROVEMENTS (12 MONTHS): Z 1 O 1 7 8 S. b O COST OF PROPOSED IMPROVEMENTS: (ATTACH COPY OF CONTRACT) . DD, 6 6 6401„ir)9 fi9r.eernenf2 4as-,001A, -J TOTAL CUMULATIVE COST OF IMPROVEMENTS (past and proposed): 8(695, d () 13V-/ 7f VALUE OF PRINCIPAL STRUCTURE (attach appraisal): OWNERS SIGNATURE: PLANREVIEWER: PLAN REVIEWER SIGNATURE: Created on June 2009 1//7'J' DATE:___ // PRIOR IMPROVEMENTS • Interior Paint: $1,600 • Roof repair: $1,100 • Replace Air conditioner: $5,100 • Tile floor in sunroom: $1,835 • Repair landscape irrigation system: $325 • Built -in cabinet & shelves: $825 PRIOR IMPROVMENTS TOTAL $10,785 PROPOSED IMPROVEMENTS • Build closet in master bedroom: $500 • Electrical associated with closet: $600 PROPOSED IMPROVEMENTS TOTAL $1,100 PREPARED BY AND RETURN TO: FAIRVIEW TITLE 9310 N. ARMENIA AVE. TAMPA, FL 33612 Monica Wa ^^ 1007047 Sales Price o(R1 above for recording This Special Warranty Deed Made the JUG day of 1 V l Gk , 2011, by HSBC Bank USA, National Association, as Indenture Trustee of the Fieldstone Mortgage Investment Trust, Serie 2006 -3, whose address is 4828 Loop Central Drive, Houston, TX 77081 -2226, hereinafter called the grantor, to RANDALL KING and BARBARA BONDRA, whose address is: hereinafter called the grantee: (wherever used herein the terms "grantor" and "grantee" include all the parties to this instrument and the heirs, legal representatives and assigns of individuals, and the successors and assigns of corporations) Witnesseth: That the grantor, for and in consideration of the sum of TEN DOLLARS and other valuable considerations, receipt whereof is hereby acknowledged, hereby grants, bargains, sells, aliens, remises, releases, conveys and confirms unto the grantee, all that certain land situate in Miami -Dade County, Florida, viz: Lot 14, Block 5, Miami Shores Estates, according to the map or plat thereof as recorded in Plat Book 47, Page 58, of the Public Records of Miami -Dade County, Florida. Parcel #11 22320280850 AKA 10634 NE 10 Place, Miami, Florida 33138 THIS PROPERTY IS BEING SOLD IN "AS IS" CONDITION. Together, with all the tenements, hereditaaments and appurtenances thereto belonging or in anywise appertaining. To Have and to Hold, the same in fee simple forever. The Grantor binds itself and its successors to warrant the title as to its own acts and none other, subject to matters set forth above. And the grantor hereby covenants with said grantee that the grantor is lawfully seized of said land in the simple; that the grantor has good right and lawful authority to sell and convey said land, and hereby warrants the title 1 to said land and will defend the same against the lawful claims of all persons claiming by, through or under the said grantor. In Witness Whereof, the said grantor has hereunto set his/her hand and seal the day and year first above written. Cam>HeArcheoo Signed, sealed and delivered in our presence: BSBC Bank USA, National Association, as Indenture Trustee of the Fieldstone Mortgage Investment Trust, Serie 2006 -3 print name: ,� VICE PRESIDENT STATE OF COUNTY OF n I HEREBY CERTIFY that on this day of M�� l 1 tU►Y(t 1 .2011, before me, an officer duly authorized in the State aforesaid and in the County aforesaid, to take acknowledgments, personally appeared, -11- LYNN Autherized S!gnatdty for HSBC Bank USA, aonal Association, as Indenture Trustee of the Fieldstone Mortgage Investment Trust, Serie 2006-3, and he/she acknowledged before me that he/she executed the same. WITNESS my hand and official seal in the County and State last aforesaid., who is personally known to me or produced as identification. LITTON LOAN SERVICING , LP ATTORNEY -!N -FACT 1..parasit tHo (,min I!M recorded ftr 2- '131311Payf It (SEAL) I 4 s Notary Permit No: 11 -901 Job Name: June 10, 2011 Miami Shores Village Building Department Building Critique Sheet 2nd 1) Identify the bearing walls in the area of work. 2) Provide a substantial improvement verification form. 10050 N.E.2nd Avenue Miami Shores, Florida 33138 Tel: (305) 795.2204 Fax: (305) 756.8972 Page 1 of 1 Plan review is not complete, when all items above are corrected, we will do a complete plan review. If any sheets are voided, remove them from the plans and replace with new revised sheets and include one set of voided sheets in the re- submittal drawings. Norman Bruhn CBO 305 - 795 -2204 Permit No: 11 -901 Job Name: May 25, 2011 Miami Shores Village Building Department Building Critique Sheet 1) Provide an electrical permit application. 2) Identify the bearing walls in the area of work. 3) Provide a substantial improvement verification form. 10050 N.E.2nd Avenue Miami Shores, Florida 33138 Tel: (305) 795.2204 Fax: (305) 756.8972 Page 1 of 1 Plan review is not complete, when all items above are corrected, we will doa complete plan review. If any sheets are voided, remove them from the plans and replace with new revised sheets and include one set of voided sheets in the re- submittal drawings. Norman Bruhn CBO 305 - 795 -2204 Gt_ op)--(0- RC11 -901 BUILDING PERMIT HISTORY ACTIVITY 10634 NE 10th Place DATE DETAILS May 17/2011 Permit applied May 19/2011 Plans reviewed and approved by EL Chief Inspector. May 25/2011 Plans reviewed and rejected by Building Official. May 27/2011 Contractor contacted & comments faxed. June 8 /2011 Contractor brought new sets of plans. June 9 /2011 Contractor brought EL application. June 9 /2011 El application permit approved. June 10/2011 Plans reviewed and rejected by Building Official. June 14/ 2011 El plans approved. I eti c ' June 17/ 2011 Norm talked to home ce�r to clarify some information about bearing walls. Made notes on the plans. June 17/ 2011 Permit approved; pending to submit Substantial Improvement form. June 20/ 2011 Substantial Improvement form submitted. June 24/ 2011 Substantial Improvement form approved. June 24/ 2011 Permit processed. June 24/ 2011 Home owner came to talk to Mr. Benton & Norman. 05/27/2011 16:45 FAX 1 800 685 7530 DATA SCAN FIELD SERVICES X001 * * * ** * * * * * * * * * * * * * * ** * ** TX REPORT *s* * * * * * * ** * * * * * * * * * * * ** TRANSMISSION OK TX /R% NO 1433 RECIPIENT ADDRESS 919549867481 DESTINATION ID ST. TIME 05/27 16:44 TIME USE 00'25 PAGES SENT 1 RESULT OK ( II -LAW-1--0 Permit No: 11 -901 Job Name: May 25, 2011 Miami Shores Village Building Department Building Critique Sheet 1) Provide an electrical permit application. 2) Identify the bearing walls in the area of work. 3) Provide a substantial improvement verification form. 10050 N.E.2nd Avenue Miami Shores, Florida 33138 Tel: (305) 795.2204 Fax: (305) 756.8972 Page 1 of 1 Plan review is not complete, when all items above are corrected, we will doa complete plan review. If any sheets are voided, remove them from the plans and replace with new revised sheets and include one set of voided sheets in the re- submittal drawings. Norman Bruhn CBO 305 -795 -2204 �.� x •• q— cm - 19 1 305.819.2630 05 -26 -2011 Wells Fargo Bank, N.A. WFBNARELS01 200 S. Biscayne Boulevard, 15th Floor Miami, FL 33131 Re: Property: 10634 N.E. 10th Place Miami Shores, FL 33138 -2104 Borrower: Randall King and Barbara Bondra File No.: 11 -0672 Opinion of Value: $ 311,000 Effective bate: 05 -26 -2011 In accordance with your request, we have appraised the above referenced property. The report of that appraisal Is attached. 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 and city, and an economic analysis of the market for properties such as the subject. The appraisal was developed and the report 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 limiting conditions 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 additional service to you. Sincerely, Mabel Cid/St.Cert.Res.REA Ucense or Certification #: 4594 State: FL Expires: 11 -30 -2012 mcidl authenticappraisalservices.com Authentic Appraisal and Real Estate Services, Inc. Licensed Real Estate Appraisers APPRAISAL OF REAL PROPERTY LOCATED AT: 10634 N.E. 10th Place Miami Shores, FL 33138 -2104 FOR: Wells Fargo Bank, N.A. 200 5. Biscayne Boulevard, 15th Floor Miami, FL 33131 AS OF: 05 -26 -2011 BY: Mabel Cid /St.Cert.Res.REA Authentic Appraisal and Real Estate Services, Inc. 2332 Galiano Street, Suite 250 Coral Gables, Florida 33134 (Office) 305.819.2630 (Fax) 800.875.1737 Neighborhood Name Miami Occupant -1 Owner 111 Tenant Vacant Special Assessments $ Na Vac p LI N I VI UI UI IYI U4- +C-OC ❑ PUD HOA $ G� "u, 110.4LI per ❑ month year per S Property Rights Appraised 41 Fee Simple ❑ Leasehold ❑ Other (describe) (1) Assignment Type ❑ Purchase Transaction / / Refinance Transaction ❑ Other (describe) Lender /Client Wells Fa • • Bank N.A. Address 200 5. Bis • e Boulevard 15th Floor Miami FL 33131 Is the subject I roperty currently offered for sale or has ft been offered for sale in the twelve months 1 nor to the effective date of this ap • raise!? / / Yes ❑ No Re, ort data source s used, offerin ' i rice s , and date s . The sub ect • ro • is •resent) not under contract for sale and ase nor has it been listed or transfered since having been purchased as an REO in March of 2011 for 227,000. - Fares/MLS/Public Records 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 'ro s erty seller the owner of ' ubiic record? ❑ Yes ❑ No Data Source s z 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 ' aid. Note: Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood Characteristics On 1nit Houstn Trends One-Unit<Housfn. ; Present Land Use °A Location ❑ Urban // Suburban ❑ Rural Property Values ❑ Increasing @ Stable ❑ Declining PRICE AGE One -Unit 45 % Built-Up / / Over 75% ❑ 25-75% ❑ Under 25% Demand /Supply / 1 Shortage ❑ In Balance ❑ Over Supply $ (000) (yrs) 2 -4 Unit % 0 Growth ❑ Rapid L'/ Stable ❑ Slow Marketing Time ❑ Under 3 mths 0 3 -6 mths ❑ Over 6 mths 45 Low s Multi- Family 15 % gNeighborhood Boundaries See Supplemental Addendum 855 High 86 Commercial 20 % m 250/550 Pred. 30/70 Other * 20 Neighborhood Descri ption See Additional comments * 20% - Biscayne Bay El' z Market Conditions (including support for the above conclusions) See Additional Comments Dimensions 75' X 130' per public records Area 9,750 s/f per public recs. Shape Rectangular View Residential S 1 ecific Zoning Classification R17.5 Zoning Description One Family - 17,500 SF Min. Unit Size 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? ■ 1 Yes ❑ No If No, describe Utilities Public Other (describe) Public Other (describe) Off -site Improvements - Type Public Private F Electricity // ❑ Water 12 ❑ Street Paved Asphalt // ❑ (75 Gas ❑ ■ None Noted Sanitary Sewer ❑ ►/ Septic (Typical of Area) Alley None Noted ❑ ❑ FEMA Special Flood Hazard Area 0 Yes ❑ No FEMA Flood Zone AE FEMA Map # 12086C0306L FEMA Map Date 09 -11 -2009 Are the utilities and off -site improvements typical for the market area? l/ Yes ❑ No If No, describe Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? ❑ Yes 12 No If Yes, describe Although the appraiser is not an environmental expert, There were no apparent adverse environmental conditions noted that would adversely affect the subject's marketability and/or property value. A current survey is recommended as one was not available for review at the time of inspection. General Description Found to 1 Exterior; Description materials /condition Interior ; materials /condition Units 1/ One ❑ One with Accessory Unit @ Concrete Slab ❑ Crawl Space Foundation Walls Poured concrete /Avg Floors Marble/Tile /Avg -Good # of Stories 1 ❑ Full Basement ❑ Partial Basement Exterior Walls CBS /Average Walls Drywall /Average Type // Det. ❑ Att ❑ S- Det/End Unit Basement Area sq.ft. Roof Surface Flat Tile/BUTG /Average Trin nish Partial Wood/Good // Existing ❑ Proposed ❑ Under Const. Basement Finish % Gutters & Downspouts Appear Adeq /Average Bath Floor Tile/Average Design (Style) 1 -story ❑ Outside Entry/Exit ❑ Sump Pump Window Type Awning /Average Bath Wainscot Tile/Average Year Built 1949 Evidence of ❑ Infestation Storm Sash/Insulated None Noted Car Storage ❑ None Effective Age (Yrs) 30 years ❑ Dampness ❑ Settlement Screens yes /Average ►/ Driveway # of Cars 1 Attic ❑ None Heating 11 FWA ([i HWBB Radiant Amenities ❑ Woodstove(s) # Driveway Surface Brick Pavers ❑ Drop Stair ❑ Stairs ❑ Other (Fuel // Fireplace(s) # 1 // Fence Wood ❑ Garage # of Cars Floor // Scuttle Coolin' // Central Air Conditionin /1 Patio/Deck Wood // Porch covered ■ C. sort # of Cars F Finished ❑Heated ❑Individual ❑Other ❑Pool ❑Other ❑ Att. Det ❑Built-in E, Appliances // Refrigerator ►1 Range/Oven 11 Dishwasher ❑ Disposal 1 Microwave // Washer /Dryer ❑ Other (describe) w Finished area above grade contains: 7 Rooms 3 Bedrooms 2 Bath(s) 2,090 Square Feet of Gross Living Area Above Grade 000 Additional features (special energy efficient items, etc.). See Condition of Property Below a - Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.). See Supplemental Addendum Are there an i hysical deficiencies or adverse conditions that affect the livabili , soundness, or structural integr' of the 'rope ? ❑ Yes / / No If Yes, describe The appraiser's physical site inspection of the subject property is limited to visual factors noted. No adverse factors were noted that would affect the subject's marketability and/or value. rummy y io buDJeCI 1.68 miles SW 1.54 miles SW 1.29 miles W Sale Price $ "r 1 $ 310,000 , $ 335,000 337,000 h Sale Price/Gross Liv. Area $ sq.ft . $ 174.45 sq.ft. $ 156.40 sq.ft. $ 16o.40 sq.ft. Data Source S b., on Market = 43 b• on Market = 289 , • - on Market = 5 Verification Source(s) ` • Fares /MLS /Observation Fares /MLS /Observation Fares /MLS /Observation VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +( -) $ Adjustment DESCRIPTION +( -) $ Adjustment DESCRIPTION +( -) $ Adjustment Sales or Financing Concessions Cash Sale None Reported Cash Sale None Reported F.H.A. None Reported Date of Sale/Time � 03 -18 -2011 02 -25 -2011 01 -19 -2011 Location Average Average Average Average Leasehold/Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple Site 9,750 s/f 8,625 s/f +1 100 9,675 s/f 11,500 s/f -1,800 View Residential Residential Residential Residential Design (Style) 1 -Story 1 -Story 1 -Story 1 -Story Quality of Construction Average Average Average Average Actual A r e 62 Years 59 Years 65 Years 82 Years Condition Average Good/Remodeled -20 000 Aver •• Avera• Above Grade Room Count Gross Living Area Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths 7 3 2 7 3 2 7 3 3 -5,000 7 3 2 2,090 sq.ft. 1,777 sq.ft. +12,500 2,142 sq.ft. 2,101 sq.ft. Basement & Finished Rooms Below Grade None Noted None Noted None Noted None Noted Functional Utility Average Average Average Average Heating /Cooling Central Central Central Central Energy Efficient Items Average Average Average Average a Garage/Ca sort brive • 2-Car Gara•e - 10,000 1-Car Gaya • -5,000 2-Car Gar. •e - 10,000 Porch/Patio/Deck Parch/Patio Porch/Patio Porch/Patio Porch/Patio Amenities Fireplace None Noted +3,500 Fireplace Fplace/Pool /Spa -13,500 a T se of Transaction Refinance Arms Length R/S Arms Length R/S Arms Length R/S a E Net Adjustment (Total) " ❑ + II - $ - 12,900 ❑ + 11 - $ - 10,000 ❑ + e1 - $ -25,300 w Adjusted Sale Price of Comparables ' Net Adj. 4.2 % Gross Adj. 15.2 % $ 297,100 Net Adj. 3.0 % Gross Adj. 3.0 % $ 325,000 Net Adj. 7.5 % Gross Adj. 7.5 % $ 311,700 u) 111 did ❑ did not research the sale or transfer history of the subject property and comparable sales. If not, explain M research / / did ❑ did not reveal an 'rior sales or transfers of the subject •rose for the three ears s nor to the effective date of this al . raisal. Data Source(s) Fares /MLS/Public Records 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) Fares /MLS/Public Records Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional pnor sales on page 3). ITEM SUBJECT COMPARABLE SALE #1 COMPARABLE SALE #2 COMPARABLE SALE #3 Date of Prior Sale/Transfer 03- 2011 09 -2010 05 -2011 01 -2011 Price of Prior Sale/Transfer $227,000 $145,000 $0 $0 Data Source(s) Public Records Public Records Public Records Public Records Effective Date of Data Source(s) 05 -26 -2011 05 -26 -2011 05 -26 -2011 05 -26 -2011 Analysis of prior sale or transfer history of the subject property and comparable sales The subject property was previously sold in March of 2011 for $227,000 as an REO. Since having been purchased the owners are in the process of rehabbing the properly. Sale I was previously sold in September of 2010 for $145,000 as an REO and was sold in May of 2010 for $145,800 as a tax certificate when the bank took back the title. Sale 2 was previously transfered in May of 2011 for $0. Sale 3 was previously transfered in January of 2011 for $0. * Sale 1: 05- 2010/$145,800 & Sale 3: 01- 2011/$0 Summary of Sales Comparison Approach See Supplemental Addendum _ Indicated Value by Sales Comparison Approach $ 311,000 Indicated Value by: Sales Comparison Approach $ 311,000 Cost Approach (If developed) $ 210,825 Income Approach (if developed) $ n/d All three a • • • • • ches to value were considered. The income a • . roach is not a. • licable as there is not enou • h data to determine a • • ss rent multi. lier. The sales pcomparison and cost approaches were utilized to derive the market value. However, when arriving at the subject's final opinion of value, emphasis was placed on the P sales comparison approach, with substantiation from the cost approach. 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 • fnllnwinn rannirad incnartinn hacad an tha avtranrdinanu acemmntinn that tha rnnditinn nr dafirianru rinac not rannira altaratinn nr ranair co I-- z w 2 E O 0 J a z I- 0 0 a � C# APPROACH TOVATLUE (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) See Supplemental Addendum 6 ESTIMATED ❑ REPRODUCTION OR @ REPLACEMENT COST NEW OPINION OF SITE VALUE ________ ____ =$ 58,443 o Source of cost data Local estimates from builder's and contractors. DWELLING 2,090 Sq.Ft @ $ 90.00 =$ 188,100 o Quality rating from cost service rim Effective date of cost data 02 -2011 Sq.Ft @ $ —_ _ =$ a Comments on Cost Approach (gross living area calculations, depreciation, etc.) Appliances/Alcove/Accordion Shutters/Porch, etc. -- _$ 20,000 I— p See Supplemental Addendum Garage /Carport Sq.Ft @ $ =$ 0 Total Estimate of Cost -New - - --_____ _- =$ 208,100 Less Physical Functional External Depreciation 65,718 =$( 65,718) Depreciated Cost of Improvements ___ ______ =$ 142,382 "As -is" Value of Site Improvements - ____ =$ io,000 Estimated Remaining Economic Life (HUD and VA only) 65 Years INDICATED VALUE BY COST APPROACH __-_ - - ___ _---- __ ______ _$ 210,825 INCOME APPROACH TOVALUtE (fiotrequ red byFa tnle Mae) o Estimated Monthly Market Rent $ n/a X Gross Rent Multiplier n/a = $ n/d Indicated Value by Income Approach 7 Summary of Income Approach (including support for market rent and GRM) 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 o Total number of phases Total number of units Total number of units sold P. Total number of units rented Total number of units for sale Data source(s) 2 Was the project created by the conversion of existing building(s) into a PUD? ❑ Yes ❑ No If Yes, date of conversion. o Does the project contain any multi- dwelling units? ❑ Yes ❑ No Data Source z Are the units, common elements, and recreation facilities complete? ❑ Yes ❑ No If No, describe the status of completion. 0 D This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value, statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intended use, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's continuing education or membership in an appraisal organization, are permitted. SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4) research, verify, and analyze data from reliable public and /or private sources, and (5) report his or her analysis, opinions, and conclusions in this appraisal report. INTENDED USE: The intended use of this appraisal report is for the lender /client to evaluate the property that is the subject of this appraisal for a mortgage finance transaction. INTENDED USER: The intended user of this appraisal report is the lender /client. DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with the sale. *Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the properly or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the following assumptions and limiting conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it, except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opinions about the title. 2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements. The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand, or as otherwise required by law. 5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the research involved in performing the appraisal. Unless otherwise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, this appraisal report must not be considered as an environmental assessment of the property. 6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will 2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition of the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the livability, soundness, or structural integrity of the property. 3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 4. I developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop them, unless otherwise indicated in this report. 5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report. 6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report. 7. I selected and used comparable sales that are 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 a home that has been built or will be built on the land. 9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales. 10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest in the sale or financing of the subject property. 11. I have knowledge and experience in appraising this type of property in this market area. 12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listing services, tax assessment records, public land records and other such data sources for the area in which the property is located. 13. I obtained the information, estimates, and opinions fumished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct. 14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. I have noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property or that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject property. 15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and information in this appraisal report are true and correct. 16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report. 17. I have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and /or opinion of market value in this appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law. 18. My employment and /or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application). 19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in this appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take no responsibility for it. uu1au 1 u la apps cuoci J ul ou}JCI vIAUl y alJiJI aloci J (u appuumnal uu Wcl IL. Julil I kw tom IL !HUM IUAI uc uulau Icu ucl ul c Lino ai.Ji.A amaat report may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, public relations, news, sales, or other media). 22. I am aware that any disclosure or distribution of this appraisal report by me or the lender /client may be subject to certain laws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me. 23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, govemment sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any mortgage finance transaction that involves any one or more of these parties. 24. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and /or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. 25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and /or criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 1001, et seq., or similar state laws. SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that: 1. I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 2. I accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 3. The appraiser identified in this appraisal report is either a sub - contractor or an employee of the supervisory appraiser (or the appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law. 4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 5. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and /or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. APPRAIS ` R SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature P Name Mabel Cid/ ,REA Company Name ntic Appraisal and Real Estate Services, Inc. Company Address 2332 Galion° Street, Suite 250, Coral Gables, FL 33134 Telephone Number 305.819.2630 Email Address mcid @authenticappraisalservices.com Date of Signature and Report 05 -26 -2011 Effective Date of Appraisal 05 -26 -2011 State Certification # 4594 or State License # or Other (describe) State # State FL Expiration Date of Certification or License 11 -30 -2012 ADDRESS OF PROPERTY APPRAISED 10634 N.E. 10th Place Miami Shores, FL 33138 -2104 APPRAISED VALUE OF SUBJECT PROPERTY $ 311,000 LENDER /CLIENT Name Company Name Wells Fargo Bank, N.A. Company Address 200 5. Biscayne Boulevard, 15th Floor, Miami, FL 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 111 Did not inspect exterior of comparable sales from street oale"rnce /Bross LIV. Area • S..ft. $ 178.47 S'.$. - ' l' 'i $ 169.58 sq.ft. r $ 169.83 So it. ', , Data Sources . • on Market = 127 b • on Market = 121 ► ' son Market = 243 Verification Source(s) Fares /MLS /Observation Fares /MLS /Observation Fares /MLS /Observation VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +( -) $ Adjustment DESCRIPTION +( -) $ Adjustment DESCRIPTION +( -) $ Adjustment Sales or Financing Concessions = F.H.A. None Reported 03 -18 -2011 Active Listing Negotiation (7%) Not A. licable - 24,400 Active Listing Negotiation (7%) Not A. •Iicable - 24,400 Date of Sale/Time x Location Avera• Avera• Avera. Aver•• a Leasehold/Fee Sim i le Fee Sim • le Fee Sim • le Fee Sim • le Fee Sim • le aSite 9,750 s/f 14,300 s/f -9 100 9,262 s/f 9,225 s/f °- View Q Residential Sides Traffic +10 000 Residential Residential z Deslin Style 1 -sto 1 -sto 1 -Sto 1 -Sto coo Quality of Construction Average Average Average Average a Actual Age 62 Years 61 Years 74 Years 72 Years a Condition Ave ••e Avera.' Avera• Avers to Good - 10,000 0 Above Grade w Room Count Q Gross Living Area Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths 7 3 2 7 3 2 7 3 2 7 3 2 2,090 sq.ft. 1,821 sq.ft. +10,800 2,058 sq.ft. 2,055 sq.ft. u) Basement & Finished Rooms Below Grade None Noted None Noted None Noted None Noted Functional Utility Average Average Average Average Heating /Cooling Central Central Central Central Energy Efficient Items Average Average Average Average Garage /Carport Driveway 1 -Car Garage -5,000 1 -Car Garage -5,000 1 -Car Garage -5,000 Porch/Patio/Deck Porch/Patio Porch/Patio Porch/Patio Porch/Patio Amenities Fireplace None Noted +3,500 Fireplace Fireplace Type of Transaction Refinance Short Sale Arms Length R/S Short Sale Net Adjustment otal III + ❑ - $ 10 200 ❑ + 11 - $ -29 400 ❑ + ►1 - $ -39 400 Adjusted Sale Price of Comparables Net Adj. 3.1 % Gross Adj. 11.8 % $ 335,200 Net Adj. 8.4 % Gross Adj. 8.4 % $ 319,600 Net Ad'. 11.3 % Gross Adj. 11.3 % $ 309,600 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 # 4 COMPARABLE SALE # 5 COMPARABLE SALE # 6 Date of Prior Sale/Transfer 03 -2011 None None None } Price of Prior Sale/Transfer $227,000 None None None o Data Source(s) Public Records Public Records Public Records Public Records i Effective Date of Data Source(s) 05 -26 -2011 05 -26 -2011 05 -26 -2011 05 -26 -2011 w Analysis of prior sale or transfer history of the subject property and comparable sales The subject property was previously sold in March of 2011 for $227,000 as an Q REO. Since having been purchased the owners are in the process of rehabbing the property. Sale 4, 5 nor 6 had no prior sales or transfers in the past 12 months. 0) Analysis /Comments See Supplemental Addendum c 1— z w E 2 0 U w 0) >- J Q z ppQ • It is available and reliable and must provide analysis as indicated below. if any required data is unavailable or is considered unreliable, the appraiser must provide an explanation. It is recognized that not all data sources will be able to provide data for the shaded areas below; •d it is available, however, the appraiser must include the data in the analysis. If data sources provide the required information as an average instead of the median, the appraiser should report the available figure and identify it as an average. Sales and listings must be properties that compete with the subject property, determined by applying the criteria that would be used by a prospective buyer of the subject property. The appraiser must explain any anomalies in the data such as seasonal markets new construction foreclosures etc Inventory Analysis Prior 7 -12 Months Prior 4-6 Months Current - 3 Months Overall Trend Total # of Comparable Sales Settled 22 16 9 ❑ Increasing ❑ Stable // Declining Absorption Rate otal Sales /Months 3.67 5.33 3.00 ❑ Increasing CI Stable ❑ Declining Total # of Comparable Active Listings „/a = n/a 32 ❑ Declining ❑ Stable i i increasing:' Months of Housing Supply (Total Listings / Ab.Rate) „/ ! n/a = 10.7 ❑ Declining ❑ Stable ❑- increasing Median Sale &fist Price, DOM, Sale/List % : Prior 7 -12 Months Prior 4-6 Months Current - 3 Months Overall Trend Median Comparable Sale Price 348,750 296,562 325,000 ❑ Increasin ►/ Stable ❑ Declining Median Comparable Sales Days on Market 20 68 88 ❑ Declining ❑ Stable ►/ Increasing Median Comparable List Price nla . n/a 349,000 ❑ Increasing • Stable `' 0 Declinin 9 Median Comparable Listings Days on Market n/a = n/a 77 Declining ; • Stable ❑ Increasing_ z Median Sale Price as % of List Price 93% 92.5% 97% // Increasing ❑ Stable ❑ Declining Seller - (developer, builder, etc.)paid financial assistance prevalent? // Yes ❑ No ❑ Declining C/ Stable ❑ Increasing 6 Explain in detail the seller concessions trends for the past 12 months (e.g., seller contributions increased from 3% to 5 %, increasing use of buydowns, closing costs, condo Qfees, options, etc.). Due to present market conditions a slow down in sales is being seen as well as increase in competing inventory. Therefore it has become u) typical for sellers to provide seller concessions. Concessions typically used to be 2% or 3 %, now the norm is up to 6% typically when the loan program allows it. it Due to the more the strin•ent credit • ldelines sellers are usi • • downs so their b er's can • all . I-- w 2 Are foreclosure sales (REO sales) a factor in the market? / / Yes ❑ No If yes, explain (including the trends In listings and sales of foreclosed properties). Due to the I. • number of ad ustable rate mort• . • which are resetti n•. and the • ent economic situation we are currentl in there are short sale listi available. For example, out of the 24 comparable sales which transpired, 9 were short sale transactions and 13 were REO transactions. Additionally, out of 32 com. . • •le active listi • available at the time of the ins • ction in the sub ect's market, 9 are short sale listin• -. Please note that it has been seen in the that the short sale listings do not sell and they turn into REO listings. Cite data sources for above information. The above information was obtained from the MLXchange, realtors, sales data from public records and/or local /government agencies. Summarize the above information as support for your conclusions in the Neighborhood section of the appraisal report form. If you used any additional Information, such as an analysis of ,ending sales and /or e o ired and withdrawn listings, to formulate our conclusions, ' rovide both an ex, lanation and su, ' ort for our conclusions. Although median prices in Miami -Dade County have decreased in the past 12 months per the local realtor association and/or public records. Based on the above data and an anal is of the market, market conditions a • • - ar to be showIn. sins of it n • to stabilize itself in this sub ect market s • ent in the • . 12 months. If the subject is a unit in a condominium or cooperative project , complete the following: Project Name: Subject Project Data Prior 7 -12 Months Prior 4-6 Months Current - 3 Months Overall Trend Total # of Comparable Sales (Settled) ❑ Increasing ❑ Stable ❑ Declining Absorption Rate (Total Sales /Months) ❑ Increasing ❑ Stable ❑ Declining Total # of Active Comparable Listings - ❑ Declining ❑; Stable • increasing Months of Unit Supply (Total Listings /Ab.Rate) = ❑ Declining ❑ Stable ❑ Increasing �, Are foreclosure sales (REO sales) a factor in the project? ❑ Yes ❑ No If yes, indicate the number of REO listings and explain the trends in listings and sales of foreclosed properties. w 0 a- a. 9 O 0_ O 0 o Summarize the above trends and address the impact on the subject unit and project. hj Signature R Signature w Appraiser Name ., -, $t.cert.Res.REA Supervisory Appraiser Name The purpose of this report is to estimate the market value of the subject property as of the date indicated. The subject is appraised on the basis of conventional financing, unaffected by any special financing, fees, costs, or credits. "Market value" is defined by the Office of the Comptroller of the Currency under 12 CFR, Part 34, Sub-part C- Appraisals. Scope of the Appraisal The "scope of the appraisal" means the extent of the process of collecting, confirming and reporting data pertinent to the formation of a market value estimate for the appraisal. The appraisal is based on the information gathered by the appraiser from public records, other identified sources, inspection of the subject property and neighborhood, and selection of the comparable sales within the subject market area. When conflicting information was provided, the source deemed most reliable was used. Data believed unreliable was not included in the report, nor used as a basis for the value conclusion. All of the relevant aspects of the verified data relied upon, as known to the appraiser, is reported within this report. Descriptive factors and a discussion of the data is included within the appropriate sections of this report. Highest and Best Use "Highest and Best Use" is the reasonable probable and legal use of vacant land or improved property, which is physically possible, appropriately supported, financially feasible, and that results In the highest value. Condition of Components The appraisal calls for opinions of condition on certain components of the subject improvements. The conditions indicated in this report are based on observations made at the time of the inspection. The observations do not constitute certifications, and if certification is required, a legally, qualified consultant should be retained. Zoning and Building Compliance The opinion of zoning compliance expressed in this report is based on inspection of the properly, and generally available information with respect to the assigned zoning classification, and does not represent a certification of compliance. The report also assumes that the property, is inspected, was built in compliance with all applicable codes, regulations and that all necessary permits were obtained. Environmental Unless otherwise stated in this report, no hazardous materials were present. The appraiser is not qualified to detect such substances. The presence of hazardous substances may affect the value of the property. The value estimate is predicted on the assumption that there is no such material on or in the property that would result in a loss in value. No responsibility is assumed for any such condition, expertise or any engineering knowledge required for their discovery. The client is urged to retain an expert in this field, if desired. Flood Zone The flood zone indicated on this report was obtained from flood insurance site maps issued by the Federal Emergency Management Agency (FEMA). The report indicates simply if the subject lies within a defined FEMA flood hazard area. No inference to insurance requirements should be made. When a properly lies near the boundary of Iwo or more flood hazard zones, the most hazardous zone will be indicated in the report. Personal Property Personal property, including those items not permanently attached to the real property, have not been included in the value estimate unless otherwise indicated. Subject Sketch The appraiser is not a surveyor, therefore the dimensions are approximate and the diagram is for visual aid only. Square Footage - Comparable Sales The appraiser uses actual living area in the market analysis for the subject and the comparable sales. The living area utilized for the comparable sales has been obtained from the Public Records/Tax Rolls and may have been further modified by the field appraiser's observation of the actual improvements. The living area of the comparable sales has been estimated to the best of the appraiser's observations and I UA l LEglill vw10I•I1J I Pvn This information has been derived through public records sources and tax rolls. Cost Approach The replacement cost utilized within this appraisal are obtained from estimates from licensed contractors and/or appraisers' files and rounded. The appropriate cost adjustments were made for size and and style of improvements. These cost figures are frequently compared to actual construction costs supplied by local builders. The site value was based upon recent sales of comparable sites in the subject's general neighborhood or competing neighborhoods. If no land sales were available, the site was abstracted from the improved sales from within The subject's immediate area. Market Approach The adjustment for sales/financing concessions are not necessarily the stated value of the concessions, but rather the market indicated impact of such concessions. Whenever possible, financial considerations must be verified by either the buyer, the seller, or sales agent. It is the appraiser's opinion that the comparable sales utilized are the most reflective of the market for the subject property. Income Approach (When Applicable) The income approach is based upon capitalizing the net operating income of a property to arrive at a market value estimate. Residential property is typically purchased for its' intangible assets, and not for the purposes of generating income. Furthermore, the lack of reliable rental data makes This approach too weak to utilize. Reconciliation Each approach demonstrated is considered to a reflection of market behavior. The final reliance is placed upon the market approach to value because of the reliability and availability of market data. In addition, it is most reflective of buyers' and sellers' attitudes within the local market. The cost approach is considered a supportive indicator of value. Appraisal Development and Reporting Process This is a Summary Appraisal Report which is intended to comply with the reporting requirements set forth under Standards Rule 2 -2 (b) of the Uniform Standards of Professional Appraisal Practice for a Summary Appraisal Report. As such, it presents only summary discussion of the data, reasoning and analysis that were used in the appraisal process to develop the appraiser's opinion of value. Supporting documentation that is not provided with the report concerning the data, reasoning and analysis is retained in the appraiser's file. The depth of the discussion contained in this report is specific to the needs of the client, and for the intended use stated in the report. The appraiser is not responsible for unauthorized use of this report. To develop the opinion of value, the appraiser performed a complete appraisal process, as defined by the Uniform Standards of Professional Appraisal Practice. This means that no departure from Standard 1 was invoked. Supplementary Certification I certify that to the best of my knowledge and belief, the reported analysis, opinions and conclusions were developed and this report was prepared in conformity with the requirements of the Code of Professional Appraisal Ethics. My compensation is not contingent upon the reporting of predetermined value or direction in value that favors the cause of the client, the amount of the value estimate, the attainment of a stipulated result or the occurrence of a subsequent event. Intended User The Intended User of this appraisal report is the Lender /Client. The Intended Use is to evaluate the property that is the subject of this appraisal for a mortgage finance transaction, subject to the stated Scope of Work, purpose of the appraisal, reporting requirements of this appraisal report form, and Definition of Market Value. No additional Intended Users are identified by the appraiser. The subject property is located in an established neighborhood which is primarily composed of single family dwellings of different ages and lot sizes, as well as several multi - family dwellings. No adverse factors affecting the subject's marketability were noted at the time of inspection. The subject property conforms well to the surrounding neighborhood and affords access to all market amenities, inclusive of schools, shopping facilities, recreation, employment and major arteries of transportation. Commercial land uses are not so close in proximity as to adversely affect the subject's marketability. The subject has average appeal to the typical area buyers. Market Conditions Market values are leveling themselves as the South Florida real estate market is coming out of the real estate boom it had been in for the past 8 to 10 years, with property values declining in certain market segments across the county. Therefore, creating a buyer's market with a significant amount of listings available to choose from. Longer marketing times are also being seen, thereby limiting at times the number of comparables available at the times of inspections. The average time on the market is 3 to 6 months, however it is not uncommon for a property to sell in 30 days or less. Properties in this area are eligible for all types of different financing, such as conventional, F.H.A, V.A., etc. with sales concessions and interest buy -downs not being uncommon. Cost Approach Cost estimate is based upon data contained in appraiser files and local estimates provided by local licensed building contractors. Site value is based upon review of recent land sales and/or extraction. No similar individual lots have sold. Subject property's high land to value ratio is typical of properties in the subject's neighborhood. The comparables used have similar ratios. See attached floor plan for area calculations. Replacement cost was used rather than reproduction cost. The cost approach is not required but is being provided at the request of the lender. Cost approach is considered a reliable indicator of value not to be relied upon for insurance purposes. Age /Life method of depreciation was utilized. Remaining economic life is 35 years based on a total economic life of 95 years. Utilities Please note that at the time of the inspection, the appraiser noted that all of the utilities were on and operational. URAR : Improvements - Condition of the Property The subject is in overall average condition. It was previously sold as an REO last month. Due to the fact that it was sold in substandard condition, the current owners are in the process of completely gutting it and rehabbing it. However the subject property is being considered in overall average condition since at the time of the inspection, the rehabbing had not been completed. The subject property's flooring consists of tile flooring all throughout with the exception of new travertine marble flooring in the family room. The subject's kitchen has new tiled countertops /backsplash which have been installed temporarily for functional purposes. Additionally, the subject property has an alarm system, recessed lighting, window treatments, ceiling fans and smoke detectors. The subject property's quality of construction appears to be average and conforms to the neighborhood. Typical physical deterioration noted, however reduced due to preventative maintenance. No functional or external obsolescences were noted at the time of the inspection. URAR : Sales Comparison - Summary of Sales Comparison Approach The comparable sales have all been adjusted accordingly for all differences contributory to value via matched paired sales analysis. The appraiser has provided 4 resales and 2 active listings from within the subject's market segment. Said listings were from the middle of the range of available listings and were given an adjustment for negotiations since we are in a buyer's market due to the current market conditions. Per the Miami-bade County Property Appraiser's Office, property values have declined approximately 10 %. However market conditions in this market subsegment have shown signs of stabilization with property values being stable in the past 12 months. The median sales price to list ratio was 93 %, 92.5% and 97% for the past 12 months. Therefore the rate of adjustment made to the active listings was 7 %. Due to the fact that only 47 sales have transpired in the past 12 months, of which 38 took place over 4 months ago. Almost half were distressed sales. Therefore it was necessary to slightly exceed the recommended distance requirement in order to provide arms length transactions. Their use in no way adversely affects the subject's marketability and /or the quality of the final value estimate. Emphasis has been placed on Sales 1, 2 and 3 since they are "arms length" resales of similar dwellings and share the same market segment. No consideration was placed on Sale 4 since it was a "distressed sale ". It is just being provided to show that distressed sales are sold at discounted prices since the banks are highly motivated to remove these "toxic assets" from their portfolios. No emphasis has been placed either on the active listings. They are just being provided to show the current trend in pricing being seen in the subject's market segment. IlDAD Abinlil- nwhnnrl - Rn,nvinwioc N Sketch by apex Net 27.0' 19.5' Wood beck 15.5' Bedroom Bathroom Bedroom 16.0' Family Room 8 cc Foyer 25.3' in 13.5' F 0 tatdry Er, Dorn 05 13.5' Master Bathroom Master Bedroom 14.7' 0 rn Comments: AREA CALCULATIONS SUMMARY Code Description Net Size Net Totals GLA1 First Floor 2089.6 2089.6 OTH Wood Deck 107.3 Laundry Room 114.8 222.0 Net LIVABLE Area (Rounded) 2090 LIVING AREA BREAKDOWN Breakdown Subtotals First Floor 13.5 x 17.0 229.5 11.0 a 40.0 440.0 8.0 a 14.7 117.6 9.0 x 16.0 144.0 19.0 x 42.5 807.5 13.0 x 27.0 351.0 6 Items (Rounded) 2090 Subject Property Front View Subject Property Rear View Subject Property Street View Subject Property Alley View Subject Property Open Patio View Subject Property Central A/C Compressor View Subject Property Foyer View Subject Property Master Bedroom View Subject Property Master Bathroom View Subject Property Master Bathroom View Subject Property Living Room View Subject Property Dining Room View Subject Property Kitchen View Subject Property Kitchen View Subject Property Kitchen View Subject Property Laundry Room View Subject Property Den View Subject Property Family Room View Subject Property Bedroom View Subject Property Bathroom View Subject Property Bathroom View Comparable 1 195 N.W. 96th Street PrOX. to Subject 1.68 miles SW Sales Price 310,000 Gross Living Area 1,777 Total Rooms 7 Total Bedrooms 3 Total Bathrooms 2 Location Average View Residential Site 8,625 s/f Quality Average Age 59 Years Comparable 2 70 N.E. 92nd Street Prox. to Subject 1.54 miles SW Sales Price 335,000 Gross Living Area 2,142 Total Rooms 7 Total Bedrooms 3 Total Bathrooms 3 Location Average View Residential Site 9,675 s/f Quality Average Age 65 Years Comparable 3 59 N.E. 101st Street Prox. to Subject 1.29 miles W Sales Price 337,000 Gross Living Area 2,101 Total Rooms 7 Total Bedrooms 3 Total Bathrooms 2 Location Average View Residential Site 11,500 s/f Quality Average Age 82 Years Comparable 4 1035 N.E. 99th Street Prox. to Subject 0.42 miles s Sales Price 325,000 Gross Living Area 1,821 Total Rooms 7 Total Bedrooms 3 Total Bathrooms 2 Location Average View Sides Traffic Site 14,300 s/f Quality Average Age 61 Years Comparable 5 102 N.E. 102nd Street Prox. to Subject 1.22 miles W Sales Price 349,000 Gross Living Area 2,058 Total Rooms 7 Total Bedrooms 3 Total Bathrooms 2 Location Average View Residential Site 9,262 s/f Quality Average Age 74 Years Comparable 6 374 N.E. 104th Street Prox. to Subject 0.87 miles W Sales Price 349,000 Gross Living Area 2,055 Total Rooms 7 Total Bedrooms 3 Total Bathrooms 2 Location Average View Residential Site 9,225 s/f Quality Average Age 72 Years Inter Flood v v.Jnterflood,com • 1- 800 - 252-6633 Prepared for: Authentic Appraisal and Real Estate SeMces_ Inc 10634 N . 10th Place Miami Shores. FL 3313 8 -2104 FLOODSCAPE Map Number 12086C0306L Effective Date September it 2009 4'13' 8 tSSs 1200 ZONEX `t.'1600' 2)]tii Patvered by Ro Sour e $77.; 7.FLOOD vww. f loo:tsouroe.00i roeProse aro-vor FlcodSour;e'Carporat zrte. All guts . _, ^.3i_-t. ,sue; -.."..7S, V5. Otter pater..ts pending. For Info: lrafogfbrrdsouros.tarr. The Mate °~M°=°m°~y'--_�- Comparable #U :374 N.E. 104th Street 1O2N.E.1O2ndStreet z32 miles VV .�vnwc �" r�y^ Comparable #1 195 N.W. 96th Street I.6O miles SuV Pa,- -'��-�� Comparable #3 .59m.E.lO1wtStreet 1.29 miles W Comparable # 4 1035 N.E. 99t Street O.12 miles S D. �x�� *6� Stee hiE. 54th St This Appraisal Report is one of the following types: ❑ Self Contained (A written report prepared under Standards Rule 2 -2(a) , persuant to the Scope of Work, as disclosed elsewhere in this report.) Summary (A written report prepared under Standards Rule 2 -2(b) , persuant to the Scope of Work, as disclosed elsewhere in this report.) ❑ Restricted Use (A written report prepared under Standards Rule 2 -2(c) , persuant to the Scope of Work, as disclosed elsewhere in this report, restricted to the stated intended use by the specified client or intended user.) Comments on Standards Rule 2 -3 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 (or the specified) present or prospective interest in the property that is the subject of this report and no (or the specified) personal interest with respect to the parties involved. — 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 the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. — My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice 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 name of each individual providing significant real property appraisal assistance is stated elsewhere in this report). — Unless otherwise indicated, I have performed no services regarding the subject property within the prior three years, as an appraiser or in any other capacity. Comments on Appraisal and Report Identification Note any USPAP related issues requiring disclosure and any State mandated requirements: The signature(s) affixed to this report, and certification, were applied by the original appraiser(s) or supervisory appraiser and represent their acknowledgements of the facts, opinions and conclusions found in the report. Each appraiser(s) applied his or her signature electronically using a password encrypted method. Hence these signatures have more safeguards and carry the same validity as the individual's hand applied signature. If the report has a hand - applied signature, this comment does not apply. APPRAISER!,.,. Signature: Name: Mabel Cid/St Designation: Date Signed: 05 -26 -2011 State Certification #: 4594 or State License #: State: m_ SUPERVISORY APPRAISER (only if required): Signature: Name: Designation: Date Signed: State Certification #: or State License #: State: Mabel c;d 6622 Miami Lakes D e Suite +44 Miami Lakes, FL 14 Otiiective To excel in my pritiession to the hest of my capabilities and constantly stride towards was of betterinnthc service which can be provrided t.rery clients, as well as stay up to date with the latest changes in both the regulations and technologies related to m9 profession. Work Experience State Certified Reziclential RENOWNtR Z004 To ant. Authentic Appraisal and Real Est Services, Inc., Miami Lakes, FL Perform resided appraisal a si, ,ments for private individuals, mortgage companies, lends, develope , accountinsfinms and law mss. Perferin market sWdies in different market segments for _developers, onsuk on reskiential appraisal projects, provide court testinrorrt when asked, ovemee elailj:funct oas o corrrpanq and supervise the RegStered Trainee Appraisers in mr� mice. State Certified Residential REA/Reg. Trainee Appraiser 2003 To Z P° t rates and Associates Rea1123, Inc., Miami, FL office worm residential appraisal assignments for priv. ate individuals, mortgage 305.819.2650 c rie: , lenders, developers, ac cunuinnlrrnrs and law lrrns. Perform market a. ,: in different market seenents for ; consult on residential appraisal- projects, provide court testes when asked, oversee dailsd functiOns L. rex comparu4 oversee Bail j &notions of company. 800 ,.737 Mobile 03.33$:1kc+ tjtrmai mod@aut' cnt91'T:GR raisL9ke �'Cces.cL m Registered Traine Appraiser 2000 To 2003 Preferred Appraisal and Real ` t state Service.s, Inc.,. Miami,: FL Perform residential appraisal assignmerlia 'for private individuals,, mort companies, lenders, developers, arcs untinglirn and lam firms. Education Miami Dade College - A.A. Pre -Law Liven /certifications State CCer-ti1ed Residential Real Estate Appraiser.iFlaridak- RD's? Real testate Associate (lorida - SL639740 Licensed Mortgage froker (rlor ida .M M5084587+) rt`d.A; Certified aloricla -•r , may-) References Ref=erences will be furnished l upon r+e9uest. Genera/StarM GENERAL STAR NATIONAL INSURANCE COMPANY Financial Centre P.O. Box 10360 Stamford, Connecticut 06904 -2360 REAL ESTATE APPRAISERS ERRORS & OMISSIONS INSURANCE POLICY DECLARATIONS PAGE This is a claims made and reported policy. Please read this policy and all endorsements and attachments carefully. Policy Number: NJs135D 1. NAMED INSURED: Mabel Cid STREET ADDRESS: 6625 Miami lakes Drive #444 Miami Lakes, FL 33014 2. POLICY PERIOD: Inception Date: 09/1512010 Renewal of Number. NJA902135C Expiration Date: 09115011 Effective 12 :01 am. Standard Time at the address of the Named Insured. 3. LIMIT OF LIABILITY: Each Claim: $ !mia000 Aggregate: S 1,000.000 Claim Expenses have a separate limit of Liability: Each Claim: $ 1.0011000 Aggregate: $1010,000 4. DEDUCTIBLE: Each Claim: $500.00 5. RETROACTIVE DATE: 0911512006 Aggregate: $1,000.00 If a date is Indicated, this ;policy will not provide coverage for any Claim arising out of any act, error, . omission or personal injury which occurred before such date, 6. ANNUAL PREMIUM: $ 751:00 Additimna1 lJi FL Hurricane Fund Surcharge SAO T. ENDORSEMENTS: This policy is made and accepted subject to the printed policy form together with the following forms) or endorsement(s), GSN- 07- AP- 1221t7.(t0Q008) GSN-07 .MP 375 (10+ GSN -07- rAP-2e1 (0 2007) 8. MANAGING AGENT Herbert H. Landy Insurance Agency, Inc. 75 Second Avenue, Suite 410 Needham, Massachusetts 02494 -2876 t Authorized Representative GSN..07 AP -720 (002007) © Copyright 2007. General Star Management Company, Stamford, CT Page l of 1 Pmdtmer Code: 00026230 Clan: Code:: 731211 Date: 09/13/2010 SLA#: 33 W,TCI t NU P; ;B Inspection Worksheet Miami Shores Village 10050 N.E. 2nd Avenue Miami Shores, FL Phone: (305)795 -2204 Fax: (305)756 -8972 Inspection Number: INSP- 162461 Permit Number: EL -6 -11 -1059 Inspection Date: July 25, 2011 Inspector: Devaney, Michael Owner: BARBARA BONDRA, RANDALL KING Job Address: 10634 NE 10 Place Miami Shores, FL 33138- Project: <NONE> Contractor: NOVOA ELECTRICAL CONTRACTOR Permit Type: Electrical - Residential Inspection Type: Final Work Classification: Alteration Phone Number ' Parcel Number 1122320280850 Phone: (305)665 -9247 Building Department Comments RELOCATION OF LIGHT FIXTURE FOR WALKING CLOSET Passed Inspector Comments A-- 72/ v 2e" 7/ Failed Correction Needed Re- Inspection Fee No Additional Inspections can be scheduled re- inspection fee is paid. until For Inspections please call: (305)762 -4949 July 25, 2011 Page 1 of 1 Miami Shores Village Building Department 10050 N.E.2nd Avenue, Miami Shores, Florida 33138 Tel: (305) 795.2204 Fax: (305) 756.8972 INSPECTION'S PHONE NUMBER: (305). 762.4949 BUILDING PERMIT APPLICATION FBC 20 Permit Type: ELECTRICAL Owner's Name (Fee Simple Titleholder) (R7001, I ( 11 n4 Phone # Owner's Address 135 e ()shyer) f o 's City Mahon ho (1 I(,dj (' state 1"P Permit No. Master Permit No. JUN 0 9 2011 I-9o) Tenant/Lessee Name Email Job Address (where the work is being done) ) 0054-1 O I 10 et. Zip __LZO5 Phone # City Miami Shores Village F�yyn County Miami -Dade Zip FOLIO / PARCEL # I Z Z 0 32 ° e° o p5D Is Building Historically Designated YES NO Flood Zone Contractor's Company Name L,1 t711dA L l t cht.iCd.) C.h Phone #3,842q .3 6i Contractor's Address I Ssp (/) 3t P&L, +L 3 44 City {J'10 ital., State Zip 33012!n' Qualifier Name 051/C /do /7207re-ic. Phone # Q ,25: 3533 State Certificate or Registration No. 02/3 0/3 7-09 Certificate of Competency No. Contact Phone 3 . 8 , , `� V. C ) P E -mail OS va /al o ( . /%v ✓�q�/'IO� Architect/Engineer's Name (if applicable) Phone # Value of Work For this Permit $ (OW Type of Work: :Addition Describe Work: DAlteration Square / Linear Footage Of Work: :New m Repair/Replace Demolition * * * * * * * * * * * *44** * * * * * * * * * *,* * * * * * * **** Fees************* * * * * * * * * * * * * * *** * * * * * * * *** * * * ** Submittal Fee $ Permit Fee $ Notary $ Scanning $ ' Radon $ Double Fee $ Training/Education Fee $ Structural Review. $ CCF $ CO /CC $ DPBR $ Violation date: Total Fee Now Due $ , 091, °P Technology Fee $ Bond $ See Reverse side -+ Bonding Company's Name (if applicable) Bonding Company's Address City State Zip Mortgage Lender's Name (if applicable) Mortgage Lender's Address City State Zip Application is hereby made to obtain a permit to do the work and installations as indicated. I certify that no work or installation has commenced prior to the issuance of a permit and that all work will be performed to meet the standards of all laws regulating construction in this jurisdiction. I understand that a separate permit must be secured for ELECTRICAL WORK, PLUMBING, SIGNS, WELLS, POOLS, FURNACES, BOILERS, HEATERS, TANKS and AIR CONDITIONERS, ETC OWNER'S AFFIDAVIT: I certify that all the foregoing information is accurate and that all work will be done in compliance with all applicable laws regulating construction and zoning. "WARNING TO OWNER: YOUR FAILURE TO RECORD A NOTICE OF COMMENCEMENT MAY RESULT IN YOUR PAYING TWICE FOR IMPROVEMENTS TO YOUR PROPERTY. IF YOU INTEND TO OBTAIN FINANCING, CONSULT WITH YOUR LENDER OR AN ATTORNEY BEFORE RECORDING YOUR NOTICE OF COMMENCEMENT." Notice to Applicant: As a condition to the issuance of a building permit with an estimated value exceeding $2500, the applicant must promise in good faith that a copy of the notice of commencement and construction lien law brochure will be delivered to the person whose property is subject to attachment. Also, a certified copy of the recorded notice of commencement must be posted at the job site for the first inspection which occurs seven (7) days after the building permit is issued. In the absence of such posted notice, the inspection will not be approved and a re- inspection fee will be charged. Signature Signatur Owner or Agent The foregoing instrument was acknowledged before me this The foregoing day of , 20 _, by , day of who is personally known to me or who has produced identification and who did take an oath. Contractor strument was acknowledged before me this 2011 , by 15 /eh /22a d who is personally known to me or who has produced as identification and who did take an oath. NOTARY PUBLIC: NO Sign: Sig Print: Pri My Commission Expires: APPROVED BY ' 1-4"-„ DIANA M H. PADRON MY 0 SSION # DD 9 x :/'1 ti if Ho darvotarySa rvlce. t: My Commission Expires: /MAI .04.061.P, ******************* * * * * * * ** * * * * * * * * * * * * * * * * * * * * * ** Aux * * * * * * * * * * * * * * * * * * * * * ** * * * * ** / ��ti1 Plans Examiner Engineer (Revised 07 /I0 /07)(Revised 06/10/2009) Zoning Clerk checked ADDENDUM TO BUILDING PERMIT APPLICATION AN APPLICATION FOR BUILDING PERMIT MUST ACCOMPANY THIS ADDENDUM. IF A MASTER PERMIT HAS BEEN OBTAINED, THE OWNER'S NOTARIZED SIGNATURE NEED NOT BE PRESENT ON SUBSEQUENT APPLICATIONS. PLEASE CIRCLE 0 DISCIPLINE APPLIED FOR: PLUMBING ELECTRICAL PERMIT # MECHANIC ITEM UNIT FEE ITEM UNIT FEE ITEM UNIT BATH TUB SWITCH OUTLETS SPACE HEATERS FEE DISHWASHER LIGHT OUTLETS CENTRAL HEATING DISPOSAL RECEPTACLES fi NC (WIND) FLOOR DRAIN SERVICE TEMPORARY A/C (CENTRAL) GREASE TRAP SERVICE SIZE IN AMPS DUCT WORK INTERCEPTOR SERVICE REPAIR/METER CHANGE REFRIGERATION LAVATORY APPLIANCE OUTLETS PROCESS AND PRESS PIPING LAUNDRY TRAY RANGE TOP UNDERGROUND TANKS CLOTHES WASHER OVEN ABOVE GROUND TANKS SHOWER WATER HEATER U.F. PRESSURE VESSELS SINK. POT /3 COMP. MOTORS 0 -1 HP STEAM BOILERS SINK, RESIDENCE. MOTORS OVER 1 -3 HP HOT WATER BOILERS SINK, SLOP. - MOTORS OVER 3 -5 HP MECHANICAL VENTILATION TEMPORARY WATER CLOSET MOTORS OVER 5 -8 HP TRANSPORTING ASSEMBLIES URINAL MOTORS OVER 8 -10 HP ELEVATORS /ESCALATORS WATER CLOSET MOTORS OVER 10 -25 HP FIRE SPRINKLER SYSTEMS INDIRECT WASTES MOTORS OVER 25 -100 HP COOLING TOWERS WATER SUPPLY TO: MOTORS OVER 100 HP VIOLATION NC UNIT • NC WINDOW REINSPECTION FIRE SPRINKLER AIR CONDITIONERS HEATER -NEW INST. STRIP HEATER , HEATER - REPLACE GENERATORS TRANSFORMERS LAWN SPRINKLER -WELL GENERATORS TRANSFORMERS SWIMMING POOL GENERATORS TRANSFORMERS WATER SERVICE SPECIAL PURPOSE. SEWER CONNECTIONS OUTLETS COMMERCIAL UTILITY -SEWER SIGN TUBES UTILITY -WATER SIGN TRANSFORMERS SEPTIC TANK SIGN TIME CLOCK RELAY FIXTURES FAINFIELD, 4" TILE /RES. ANTENNA PUMP & ABANDON SEPTIC TANK TELEVISION OUTLETS SOAKAGE PIT CU. FT. VIOLATION CATCH BASIN REINSPECT', ON e DISCHARGE WELL 5,(D�*Q Y \QGr. , DOMESTIC WELL AREA DRAIN ROOF INLET SOLAR WATER HEATER FIRE STANDPIPE POOL PIPING LAWN SPRINKLER SYSTEM GAS RANGE METER SET (GAS) GAS PIPING