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[File No. 96-8_2fPS #3] LAND APPRAISAL REPORT shintaku File No. 9.6.8.2 Borrower N/A Census Trott 0212.00 Map Reference 96.8-2_ _ _ _ Propeny Address 96-2220 Sout_h__Road _ _ - Cay Pahala Counry,Hawail State HI _ Zip Code 96777 _ Legal Descnphon Por. Grant 6267:8 Wood Valley Kau _ - _ _ _ _ Sale Price $ _ _ Date of Sale Loan Terrn _ yrs. Property Rights Appraised ~ Fee r~ Leasehold De Minimis PUO AcNal Real Estate Taaes$ 1,685.87 (yr) Loan charges to he paid by seller$ Other sales concessions Lender/Client Naka_m_oto Okamoto 8 Yamamoto gddress 187 Kapiolanl street, Hilo HI 96720 _ _ - Occupant NIA Appraiser Patrick Y. Takata, SRA _Instructions to Appraiser _ _ Lgcatlon Urban SubuNan Rural Gootl Avg. Fair Poor Built Up Over 75% ~ 25%to 75% Under 25% EmploymenlSbUfllry _ i ~ I j Growth Ra[e Fully Dev. j Papld ~ Steady I ~ Slow Convenience tt Employment _ ; ~ ~ LI Propeny Values Increasing ~ Stahte ~ Declining Convenience N Shopping [ [ [ [ ~ J DemanWSupply I ~Shonage ~In Balance ]Oversupply Convenience to Schools ~Q ~ Marketing Tlme nUnder3 Mas. X4-6 Mos. ~]OUer6Mos. Adequacy of Public Tmneponetlgn i ~ 1_l I_~ Present Land Use 70%1 Family %2-4 Family _%Apis. _%Condo -%Cgmmercial Recreatlpnal Facilpes f ,'XI I I 1 %IndusMal_%Vacant 30% Vacant Sites Adequacy of UAlgies ~ ] [>Q I 1 Change In Present Land Use ~ Not Llkely Llkely I ~ TelUng Place Propeny Compatlblllty ~ 1 ~ [ i, ~ (')From _ Ta _ _ Protection imm Demmental Canamons f J ~ I I I I Predommanl0ccupancy ~ Owner n Tenant %Vacant Pollee and Fire Prgteetlgn I ] ~ [ Single Family Pnce Range $ 225 000 _ to $_800 000 Predominant Value $ 375 000 General Appearance of Properties x: Single Family Age i yrs. to 75 yrs. Pretlominant Age - 30 yrs. Appeal to Markd [ QC1 J Comments including loose factors, favorable or unfavorable, a0ectlng marketability (e g. public parks, schools, view, noisej: This IS an agricultural zoned neshborhood in Wood Vallev conslsting predominantly larger acreage sites. Neighborhood boundaries are Naalehu Town to the northeast the Packflc Ocean to the south, and South Kona Forest to the west. Dimensions ,Irregular-See Map 111.209 SF = (2.553 ACI Sq. Ft. or Acres _ i. Corner Lat Zoning classification _A20-A Agricultural Presem Improvements ~tlo [ tlo not conform to zoning regulations Highest and hest use ~x'Present use ~ Omer~(specily~ Public Other (0escribe) OFF SITE IMPROVEMENTS Topo Slight Slope Gas ~ - - Street Access Public Private Size TVPieal for neighborhood Elec V _ Sunace Asphalt Shapetrregular _ _ Water i Private _ Maintenance ~ Public [ Private View Mountain Sea Sewer Cesspool ~ ~ Storm Sewer ? CurblGutter Drainage Adequate-to lot Ilne i Undergrpund Elect.BTeL _L_[Sidewalk - - [ f Street Lights ;Ia lM property touted lne NUOldeMlMdSpaclel Flaotl HewdAral i~: No[!Yee Commens jlavorable or unhvorable including any apparent adverse easements, encroachments, or inner adverse mnditlonsl: `Flood lnsurenca Rate Hlap 9-16A8_ CornrnunltYPanel No. 155166-1525C, Zone X. There are no easements or apparent adverse conditions on sublect site. _ _ There Is a single faintly dwelling conslsting of 1,280 square feet living area built In 1977 and attached carport which was _ not valued. See Addendum The undersigned has redae0 mree recent sates of propeNas mast simea and Pmumne to sMjen and has con4deed mesa m me mallet analysis. The Oescnpeon Includes a doaar adjustment refiecfing mallet reaction to mdse hems of significant uadafion between me subject and comparable propeNas. If a signifi<anl Aem in the comparable propeM is superior to m mare lavorable man me sublen prapeM. a minus atllusaneN is made mus reducing the indicated value of subject; it a significant item in me canpareble is interior to or less lavgrahle Than the subject OropeM. a plus adjustment is made thus increasing the indicated value of me subject. _HEM SUBJECT PROPERTY COMPMARLE N0. t COMPARABLE N0.2 COMPARABLE N0.3 _ Address 96-2220 South Road Lot 4 Kamaoa Road Por. Gr. 2168 Wood Valley Par.LCAW 8452:17 Kamaoa 9-6-8-2 9.4-3-48 9-6.105 Road 9d-4.17 Road f?lo>iimityto Suhe)ec< 18 Miles _ 1/2 Mlle 20 Miles _ _ Sales Price _ _ 140 000 260 000 _ 195,000 Price _ _ - 3.21 1.54 $ 2.24 Data Source Ins Tax Otflee MLS Tax Offlee _ MLS Tax Office _ MLS Tax Offlee Date fit Sale and _DESCRIPTION _ _ DESCRIPTION +t-I$ Ad~ust E6CRIPTION + - Ad ust DESCRIPTION + - Atlust. Time Adjustment _ 2/O6-fide s _ 5/05-189da s 11/O55days location Kau ~ Kau Kau Kau Sit~lew___ _ _ 111 2095E I Mtn 43 557 SF I Mtn : +101 500 168 577 SF I Mtn -57 400 87 120 SF / Mtn +36 100 Utilities Power Water Power Water Power Water Power Water ' Sales or Financing None None I Deed None /Deed None I Deed Concessions Cash PMM DP= 26000 PMM OP=_5.46000 Net AAI (TOUII____ + i-- - 101 500 + - 57400 - + - 36_,100 Indicated Value of Subject Nat 72.5 % 241 500 Net 22.1 % 202 600 Net 16.5 % 231 100 Comments on Market Data: Comparables No. 1 and 3 are not as comparable to sublect property as Comparable No. _ 2____ which is similar In location and site area. Therefore, the greatest weight Is given to Comparable No. 2. Comments and Condltlons of Appraisal: sublect properly is not currently listed for sale in MLS. There was no sales histo,~of _ auhject properly during the past 3 years. _ The Income A roach was not applicable due to the lack of comparable sales with verified rental data. The Lost _ Approach was not applicable due to the lack gf_Improvements to be appraised as in the specific requirements of _ Final Reconciliation: assignment _ Greatest wet hg t is given to the Market Data Approach since the actions of buyers and sellers in the open market direct) reflect market value. e e6TIMgTE TH! MgRgeT VALVE, qS OefINEq, eF SqueeT IROPEgTT AS Or septemb@r 1 D. 2B D6 tg he $ 2113.000 _ Patrlck~rTaketa, S Hawa~State Certiflca 'on #93 .ExgDa_: De her3 007 [-Did [ Did NOl Physically Inspect Property Ap raisers Review A raiser if a licahle (Y2K - Takata Appraisals, Inc Form LND- TAL for Wintlows'aDPraisal software hyala mode,inc.-1 ALAMODE