|
LAND APPRAISAL REPORT
<br /> Ale No.LN12151
<br /> • Borrower JACKSON,Spencer D. Census Tract 0219.00 Map Reference 3/4-8-07-30
<br /> Property Address Loihi Road(per Tax Map)also referred to as Mud L ne
<br /> • City Kukulhaele County Hawaii State Hawaii TpCade 96727
<br /> 4 Legal Description Portion of Grant 932,Apana 2,to Kalama,Kukuihaele,Hamakua,Hawaii
<br /> Sale Price$N/A Date of Sale N/A Loan Term N/A yrs. Property Rights Appraised X Fee Li Leasehold ❑De Minims PUD
<br /> • Actual Real Estate Taxes S-0- (yr) Loan charges to be paid by seller$ N/A Otter sales concessions N/A
<br /> Leuder/Cierd mincer D.Jackson Address 518 Byron Street,Palo Alto,Calefornia 94391 •
<br /> Occupart Vacant Land Appraiser Robert K.Kurlansky,cGA,CRA Instructions to Appraiser Current Market Value
<br /> Location LI Urban Suburban X Rural Good Avg. FE Poor
<br /> Built Up El Over 75% LI 25%to 75% XJ Under 25% Employment Stabitly ❑ g ❑ ❑
<br /> . Growth Rate IT Fully Des. l_ Rapid Steady X Slow Convenience to Employment El Z II n
<br /> Properly Values Li Increasing X Stable j Declining Convenience to Shopping ❑ Z I.Z ❑
<br /> Demand/Supply LI Shortage X In Balance .__I Oversupply Convenience m Schools L El ❑ ❑
<br /> marbling Time j'j]Under 3 Mas. X 4-6 Mos. ,_l Over 6 Mos. Adequacy of Public Transportation LI M [J ❑
<br /> Present Land Use 5%1 Family %2-4 Family _%Apts. _%Condo <1%Commercial Recreational Fealties () X Li L
<br /> `o' %Industrial_ %Vacant 95% Agrlcufture/Vacant Adequacy of Utilities C XI LI ❑
<br /> o Change In Present Land Use .;Not UM X Ukely(•) I Taldng Place(') Property Compatibility ❑ M r I []
<br /> (•)From Vacant To Improved Protection from Detrimental Condtans Et Z I_ 0
<br /> I Predominant Occupancy X Owner ;Tenant <5 %Vacant Poke and Rre Protection ❑ Q9 ❑ ❑
<br /> — Single Family Price Range $ 60,000 to S.675,000 Predormnarrt Value$ 225,000 General Appearance of Properties ❑ X ( ❑
<br /> Single Family Age New yrs.to 60+ yrs. Predominant Age 40+yrs. Appeal to Market ® ® ❑ ❑
<br /> Comments Including those factors,favorable or untamable,affecting marketability(e.g.pudic parks,schools,view,noise): The subfect property Is situated In the
<br /> Kukuihaele sector of the Hamakua distri which is rural in character. Prima land uses indude fermi • and ranchin..The area
<br /> is some 8 miles W of Honokaa Town(neighborhood shopping&services,schools,police&fire stations,etc.),about 18 miles NW
<br /> of Waimea(broader range of shopping,etc.)Land some 48 miles NW of Hilo,the capitol of Hawaii County.
<br /> Dimensions Irregular(as per tax map) _ = 14,736 SF.Sq.Ft or Acres l I Comer Lot
<br /> Zoning classification Agriculture,A-40a(40-acre minimum) Present Improvements k do El do not conform to toning regulations
<br /> Highest and best use L_1 Present use t,OtheeSspeclly)Consolidation_with adlolninq parcel(3/4-8-07-32)owned by client
<br /> . Pubic Other(Describe) , OFF SITE IM_PROVEMENTS Tope Gentle to steep slope/cliff Sec. X I keel Access _'Public X Private'Site Typical for the area
<br /> Gas 'Surface Unpaved&paved !Shape Irregular
<br /> , Water I ,Maintenance .Public X Private View Minimal owing to heavy overgrowth
<br /> • San.Sewer i• ;; ; t Storm Sewer _Curb/Guaer Drainage Appears to be adequate/Flood Zone-X/CP#:OZQOC
<br /> Underground Elect&Tel.! Sidewak t Street Lights In the property Witted In a HUD Identified Special Flood Hazard Area? X No L Yes
<br /> Comneils(losable or unfavorable alluding any apparent adverse easements,encroachments,or other adverse conrhonsi: There are no apparent adverse easements
<br /> _, or encroachments affecting the sublect site.
<br /> -. SEE ADDENDUM FOR SPECIAL CONDITIONS/ASSUMPTIONS&ADDITIONAL SITE COMMENTS SECTIONS.
<br /> :... The undersigned has recited three recent sales of properties mast similar and amino to subject and has considered these I the maket analysis.The description includes a dollar
<br /> . adjustment reflecting market reaction to those hems of dgnlicard variation between the subject and comparable properties.If a dgniicant item in the comparable property Is superior
<br /> to Of man Womble than the subject property,a minus I•)adjustment to made tiros reducing the Indicated value of subject It a etgnitcant item lA he comparable Is inferior to or less
<br /> favorable than line subject property,a plus(+)adjustment Is made thus increasing the indicated value of the subject
<br /> ITEM I SUBJECT PROPERTY COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
<br /> Address Loihi Road
<br /> TMK:4-8-07-30
<br /> P,.la, h Sub'ct 7;Y•`._s^l-' ..:F.
<br /> :n Sales Price $ N/A '-t `°s.u ;r; s 4 rr r,; S ".g:. 'ir^;.:r, :d..$
<br /> Price @ SF $ N/A . .. 'Z,. .. f7 $ s e,i....;;i .w'; +' .ft 4 ziFnP.it
<br /> F� Dale Source On-site Inspection
<br /> z Date of Sale and DESCRIPTION DESCRIPTION 1+1-liAdust. DESCRIPTION I+f-ISAdust DESCRIPTION I+(-1$Adlust
<br /> o Time Adjustment Current
<br /> w Location Kukuihaele ,•
<br /> T:, few 14 736 SF •
<br /> CO-MP .c, l'i : , I, -11 T .
<br /> Saks or financing Cash or Cash
<br /> Cwtcessbns Equivalency •
<br /> mauled Value 3 .r , < a E ,ti.s= °,77•'r i{ .` err. �G
<br /> of Subject ...sti. _,, . :..r" .aNef.;%x % $ ..:' .Nef'?'.-*>,%,t..5 yNe .10$
<br /> Comments on Market Data SEE ADDENDUM.
<br /> Comments and Conditions or Appraisal: AS stated in the following ADDENDUM. All sales reflect cash or cash equivalency transactions. Any
<br /> seller-financed sales will be adjusted and discussed,if necessary. The Cost and Income Approaches were not employed,as they
<br /> e are typically applicable to valuations of improved and/or Income produdng properties. As such,this Is considered to be a
<br /> t Complete Appraisal-Summary Report.
<br /> Rnal Recancilation: The Market Data(Sales Comparison)Analysis is deemed a reliable method of valuation,reflecting the actions of
<br /> buyers and sellers within the marketplace.
<br /> tt Assessed Value 2012 ; Land .5 300 ,
<br /> e esilmaru sue MARKET VALUE,as DEEDED,DP SUBJECT I; +:r''lJ7 . • September 28,2012 to be$ 3 100
<br /> CERTIFIED
<br /> Robert K.Kurtansky,coA,cRA _ 7 Old Il Did Na Physically Inspect Property
<br /> Appralser(s) at: j'..: ;;y:,, abi:,
<br /> SKI der-Island Apr, at C (808j885.7742
<br /> FormlND—, Tr .r .ItNa, ,yala mode,inc.—1-E00-ALAMODE
<br /> w
<br /> Exhibit e�
<br /> AIIV•
<br />
|