2013-11-12 Blair Family YMCA Lot 2 & 3 Wilsons AdditionGs
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RESOLUTION NO. 2013-40
COUNCIL MEMBER STEWART INTRODUCED THE FOLLOWING RESOLUTION:
WHEREAS, a Purchase Agreement between the City of Blair, Nebraska, a
Municipal Corporation, as Buyers and the Blair Area Young Men's Christian Association
as Seller, has been prepared and presented to the City Council for the City of Blair,
Nebraska. Said Purchase Agreement provides for the terns and provisions for the
purchase by the City of Blair of the following property;
LOTS 2 AND 3, YMCA WILSONS ADDITION, CITY OF BLAIR, NEBRASKA
PARCEL #5 890083846, LOT 2
890087779, LOT 3
WHEREAS, the Purchase Agreement is attached hereto and marked as Exhibit
"A" and by this reference made part hereof, and;
WHEREAS, the terms and conditions of the Purchase Agreement are acceptable
to the municipality.
NOW THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY
COUNCIL OF THE CITY OF BLAIR, NEBRASKA that the Purchase Agreement
referred to hereinabove is hereby adopted and accepted by the City of Blair and the
Mayor is hereby authorized and directed to execute same on behalf of the municipality.
COUNCIL MEMBER STEWART MOVED THAT THE RESOLUTION BE ADOPTED
AS READ, WHICH SAID MOTION WAS SECONDED BY COUNCIL MEMBER
CHRISTIANSEN. UPON ROLL CALL, COUNCIL MEMBERS STEWART,
CHRISTIANSEN, JENSEN AND ANDERSEN VOTING "AYE", AND COUNCIL
MEMBERS SHEPARD, KEPHART AND RYAN VOTING "NAY", THE MAYOR
DECLARED THE FOREGOING RESOLUTION PASSED AND ADOPTED THIS
12TH DAY OF NOVEMBER, 2013.
CITY OF BLAIR, NEBRASKA
A ,S REALPH�MAYbR
ATTEST:
BRENDA WHEELER, CITY CLERK
(SEAL)
STATE OF NEBRASKA )
) ss
COUNTY OF WASHINGTON )
BRENDA WHEELER hereby certifies that she is the duly appointed, qualified and acting
City Clerk of the City of Blair, Nebraska, and that the above and foregoing Resolution
was passed at a regular meeting of the Mayor and City Council of said City held on the
12th day of November, 2013.
BRENDA WHEELER, City Clerk
PURCHASE AGREEMENT— REAL ESTATE
F ( err&,(- / , 2013
This Purchase Agreement made and entered into by and between Blair Area
Young Men's Christian Association, a Nebraska Non -Profit Corporation, hereinafter
referred to as "Seller", and the City of Blair, Nebraska, hereinafter referred to as "Buyer".
Now, therefore, in consideration of the mutual covenants contained herein and for
other good and valuable consideration, the parties hereby agree as follows:
1. Sale. The Seller hereby agrees to sell, and the Buyer hereby agrees to
purchase, at the price and on the terms hereinafter set forth, the following described
property, including but limited to all fixtures, improvements, structures, buildings, etc.,
located thereon and legally described as follows:
(a) Legal Description of Real Estate.
LOTS 2 AND 3, YMCA WILSONS ADDITION, CITY OF BLAIR, NEBRASKA
PARCEL #5 890083846, LOT 2
890087779, LOT 3
2. Purchase Price and Terms of Pam. The purchase price for the aforesaid
real and personal property being purchased by the Buyer is in the sum of an amount equal
to the sum of Two Hundred Forty Thousand Dollars ($240,000) cash.
3. Closing Date. The closing date for the transaction shall be on or before
January 31, 2014. Closing shall occur at the office of the City of Blair, Nebraska.
4. Title Insurance. Title insurance shall be used in the conveyance in lieu of an
abstract of title. Seller shall provide Buyer with a commitment for title insurance,
showing good and marketable title in Seller, and the policy of title insurance shall be
issued by said title insurance company on its standard form, with such printed exceptions
as appear on the form and any further exceptions and encumbrances as are acceptable to
Buyer. Written notice of any such defects, including any easements, restrictions or other
matters affecting title to the property contained in the updated commitment that is
unacceptable to Buyer or its counsel shall be delivered to Sellers within Fourteen (14)
days of receipt of the commitment of title insurance. Seller has no obligation to cure any
defects. If Seller is unable or unwilling to cure such defects to the reasonable satisfaction
of Buyer within a reasonable time thereafter, and if said defects are not so cured within a
reasonable amount of time, then either party may terminate this Agreement. Seller and
Buyer agree to equally divide the total cost of the title insurance premium.
5. Warrant. Upon payment by the Buyer to Seller of the purchase price of
the real estate purchased, Seller shall cause to be conveyed to Buyer marketable fee
simple title in and to said real estate described hereinabove, by proper Warranty Deed.
6. General Real Estate Taxes. Real estate taxes for 2013 and all prior years
shall be paid by Seller. Real estate taxes for 2014 shall be prorated to the date of
possession. (Basis for the proration shall be the most recent real estate tax statement.)
The Buyers shall pay all general real estate taxes from the closing date, and all
subsequent taxes. The Seller shall pay all real estate taxes, if any, owing for prior
calendar years.
7. Possession. Seller's tenant shall have exclusive possession of the property
until date of closing. Any risk of loss to the property shall be borne by Seller's tenant
until title has been conveyed to Buyer. In the event prior to closing the structures on said
real estate are materially damaged by fire, explosion or any other cause, Buyer shall have
the right to rescind this Agreement.
Buyer shall assume all risk of loss from and after date of closing.
8. Specific Performance. It is understood and agreed that both parties retain their
right to bring action for a specific performance of the terms of this Agreement in the
event the other party is in default in carrying out their obligations under this Agreement.
9. Time is of the Essence. Time shall be of the essence in this Agreement for all
times (dates) specified hereinabove both before and after the closing date.
10. Conveyance of Title. It is understood and agreed that this Agreement shall in
no manner be construed to convey title to said property or to give any right to take
possession thereof.
11. Other Terms of Agreement.
(a) Seller shall pay all documentary stamps as a result of the sale, if any
(b) Buyer agrees to pay for the cost of the Purchase Agreement and the cost
Of escrow closing shall be equally split between the parties.
(c) This Agreement contains the entire understanding among the parties
and supercedes any prior understanding among the parties and
agreements between them respecting the within subject matter. There
are no representations, agreements, arrangements or understandings
oral or written between or among the parties hereto relating to the
subject matter of this agreement which are not fully expressed herein.
ATTEST:
aC%
ATTEST:
BRENDA WHEELER, CITY CLERK
STATE OF NEBRASKA
):ss:
COT TNTY OF WASHINGTON )
The
2013, by _
BLAIR AREA YOUNG MENS'
CHRISTIAN ASSOCIATION
Z
B
CITY OF BLAIR, NEBRASKA, BUYER
k
B
IAEREALPH, MAYOR
instrumentwas acknowledged before me on Wo'vem
%1/ /7' . . I
BARBARA A CASS
State of Nebfasko-General Notary
My M Commission mmission Expifes
C'
February 10, 201 7
STATE OF NEBRASKA
):ss:
COUNTY OF WASHINGTON )
a- e !/4 "
Notary
Public
The foregoing instrument was acknowledged before me on kc) Ver-nk'e"'-
2013, by LC,- -
r
GENERAL
GENERAL N - State of Nebraska
BRENDA R WHEELER
My Comm. Exp, June 20, 2016
W91
Notary Public
Sandra Ellis
Blair Family YMCA
1278 Wilbur Street
Blair, NE 68008
CITY OF I)tAIQ
RE: Purchase Agreement - Lots 2 & 3, YMCA Wilsons Addition
Dear Sandra,
Enclosed is a signed copy of the above agreement for your files. We will be
working with City Attorney Adam Tripp to prepare a deed and be in contact with
you sometime around the middle of January to close on this property.
Thank you and Merry Christmas to you and your family.
Sincerely,
i;��a
Brenda Wheeler
City Clerk
Enc
218 South 16th Street • Blair, Nebraska 68008 • 402-426-4191 • Fax 402-426-4195 • E-mail cltyofblalr@cl,blalr,ne.us � '"
•else o1
Blair Family YMCA
ATTN: Sandra Ellis
1278 Wilbur Street
Blair, NE 68008
CITY OF BLAIQ
RE: Purchase Agreement for Lots 2 and 2, YMCA Wilson's Addition, City of Blair, Nebraska
Dear Sandra,
Enclosed please find two (2) copies of a purchase agreement for the above property. As you
know, the Mayor and City Council voted at their regular meeting on November 12, 2013 to
purchase this property from the YMCA at the negotiated price of $240,000.
Please have the appropriate YMCA representative sign and return both agreements to our
office. A fully executed agreement will be returned to you at a later date. Closing on this
property shall be on or before January 31, 2014.
If you have any questions, feel free to contact me. Thank you.
Sincerely,
Brenda Wheeler
City Clerk
Enc
218 South 16th Street • Blair, Nebraska 68008 • 402-426-4191 • Fax 402-426-4195 • E-mail cltyofblalr@cl,biair,ne,us
Brenda Wheeler
From: Rodney Storm
Sent: Wednesday, November 13, 2013 3:00 PM
To: Brenda Wheeler
Subject: Re: YMCA purchase agreement
The purchase price was $240,000. Put closing out about 60 to 75 days. Make it on a Tuesday.
Sent from my iPhone
On Nov 13, 2013, at 9:49 AM, "Brenda Wheeler" <brwheeler@ci.blair.ne.us> wrote:
<image001, jpg>
I was going to complete the purchase agreement to have the YMCA sign.
What was the amount we are purchasing it for and what date do you want
for closing? Do you plan to hire someone to close on the property? You
can wait to fill me in on Monday if you want. Mayor won't be back to sign
anything until the 22nd anyway. Thanks.
Brenda
Wheeler, city Clerk
(40 2) 426-6694
City of Blair, 218 S. 16th Street, Blair, NE 680 08
APPRAISAL REPORT
FOR
CITY OF BLAIR, NEBRASKA
YMCA LOTS
CITY OF BLAIR, NEBRASKA
PIM
RUSS NELSEN
NELSEN APPRAISAL SERVICE, INC
710 South 19th Street
Blair, NE 68008
Property - YMCA Lots
Size - 5.17 acres (225,205 SF)
Location - 10th and Wilbur Street, Blair, Nebraska
Client - City of Blair, Nebraska
Date of Appraisal - September 19, 2013
Property Rights - Fee Simple
Highest and Best Use- Office Development
Zoning - Office Park Development
Land Use - Row Crop
Improvements - None
Estimate of Value - $247,700
The effective date of this appraisal is September 23, 2013.
The date of inspection is September 23, 2013
The purpose of this appraisal is to establish an accurate and defensible market value.
This estimate will be of fee simple title of the subject property. This appraisal is of the real
property only.
I:.
The property rights appraised are the fee simple title to the land and iniprovernents,
which comprise the subject property.
DEFINITION OF FEE SIMPLE
An absolute fee; a fee without limitations to any particular class of heirs or
restrictions, but subject to the limitations of eminent domain, escheat, police power, and
taxation. An inheritable estate.
Source: Byrl N. Boyce, Real Estate Appraisal Terminology - Revised Edition (Ballinger
Publishing Company, Cambridge, Massachusetts, First Printing 1981), p. 102.
OBJECT OF THE APPRAISAL
The objective of the appraisal is to estimate the market value of the subject property
land and improvements to the land as described in this report.
Lot 2 Lot 3
Taxes (Total) $2,929.20 $1,577.96
Assessed Value (Total) $146,360 $78,845
The subject is an "L" shaped tract that has approximately 5.17 acres (225,205 sf). It is
bordered by Wilbur Street on the south and by 10th Street on the east. There is an office
building owned by the US government, this building is located at the canner of 10th and
Wilbur which results in the "L" shape of the subject (see attached map). The lot is nearly
street level a small creek border the subject on the west, and a line of trees border the subject
on the north. No adverse site conditions are apparent. Only a small area adjacent to this
creek is in a designated flood hazard area.
The subject is located near the southeast part. of Blair 2-3 blocks off Hwy 75. The
area has shown some recent development of commercial property. It is in area of mixed use
property including industrial, residential, commercial use, and agriculture use properties. No
adverse influences are noted in the area.
OWNERSHIP
The owner of record is Blair Area Young Mens Christian Association.
Lots 2 and 3, YMCA Wilsons Addition, City of Blair, Nebraska.
Parcel #5 890083846, Lot 2
890087779, Lot 3
In the Sales Comparison Approach, the subject property is compared to sales of
similar properties. The sales are analyzed to bring out similar characteristics to common
denominators. Such common denominators may include number of units, number of rooms,
square feet, front feet, or a gross rent multiplier. Where necessary, adjustments are made to
allow for difference of date of sale, location, size of property, condition of property, and
other factors.
COST APPROACH
Under the "principle of substitution", a prudent buyer will not pay more for a
property than it would cost to build another property of equal utility assuming no
unreasonable delays. Various cost indexes applicable are studied and adjusted to local
construction costs. These building costs have been calculated on a square foot basis, and
include basic field costs (material and labor), site grading, excavation, contractor's profit,
architect's fees, insurance and interim financing. Included in the estimated cost of
reproduction of the improvements are the structural components plus all mechanical and
electrical systems, which are an integral part of the structure. Where applicable, this
includes heating, ventilating, cooling, sprinklers, and security equipment. Primary reference
used was the Marshall Swift Cost Handbook and local contractors were consulted to arrive
at a more precise square foot cost.
Depreciation is a loss from the upper limit of value. It is an effect caused by
deterioration and/or obsolescence. There are five general methods of estimating accrued
depreciation, they are; (1) the Capitalized Income Method, (2) the Market Method, (3) the
Straight -Line Method (also referred to as the Age -Life Method, (4) the Engineering Method,
and (5) the Breakdown Method. The first two are indirect methods while the last three are
direct methods.
The capitalized income method borrows from the Income Capitalization Approach
and the deprecation estimate of the Cost Approach is the by-product. The method implies
that the deterioration and obsolescence reduce the quality, quantity, and projected duration
of the net income and reduce the indication of value by the Income Capitalization Approach
and such indication becomes the basis for the estimate of depreciation in the Cost Approach.
The income approach involves the conversion of anticipated future benefits into
value. The income approach measures the quality, quantity and durability of an income
stream. The most important economic principle is the principle of anticipation. The
principle of anticipation states that value is created by the anticipation of future benefits.
Other principles to be considered are:
CHANGE
SUBSTITUTION
INCREASING/DECREASING RETURNS
EXTERNALITIES
HIGHEST AND BEST USE
Logic indicates that an informed purchaser will not pay more for a property than the
cost of obtaining a return of the same amount on another property having the same risk and
amenities.
The method most commonly applied to rural properties is the direct capitalization
approach. This procedure is "straight forward" in that you divide the anticipated net income
by the appropriate capitalization rate to obtain an indication of value. The challenge to this
approach is developing a realistic anticipation of income based on market data and obtaining
a rate that is supported by the market. Direct capitalization assumes that the anticipated
income will continue in perpetuity. Because the highest and best use is not the present use,
the income approach is not applicable.
SALES COMPARISON APPROACH
The procedure of the Sales Comparison Approach arrives at an estimate of value by
comparing the subject property to sales of similar properties. Under the "principle of
substitution", a prudent person will not pay more to buy or rent a property than it will cost
them to buy or rent an equally desirable substitute with common denominators. Such
common denominators may include a site, square feet, front feet, and acres. The subject
property being appraised is compared and rated with other like properties for which market
data is available. The appraiser assembles the pertinent facts about the comparable property.
Location:
Adjacent to subject lot, 10th and Wilbur Street
Legal Description:
Lot 4, YMCA Wilson's Addition
Grantor:
Blair Area YMCA
Grantee:
Papio-Missouri River Natural Resource District
Dale of Sale:
02/09/09
Size of Site:
1.81 acres (78,884 SF)
Sale Price:
$100,000
Price per SF:
$1.27/SF
Improvements:
None
Utilies:
Full
Zoning:
OPD
Remarks:
This is the sale of an adjacent lot to the subject that sold to the NRD
for the purpose of building their new office building.
Location:
320 Sheridan Street
Legal Description:
TL 239, 7-18-12
Grantor:
Wachter
Grantee:
A & S Services
Date of Sale:
09/24/12
Size of Site:
111,078 SF
Sale Price:
$210,000
Price Per Acre:
$1.89/SF
Improvement:
None
Utilities:
Full
Zoning:
A/ML
Remarks:
This is a small tract of nearby industrial land located near Cargill.
SUBJECT SIZE - 2259205 SF
Sale #
Size
SF
Sale Date
Price/SF
Time
Size
Location
Adjusted Price
1
78,998
2-09
1.27
=
-.25
=
$1.02
2
111,078
9-12
1.89
=
-.20
=
$1.69
3
261,796
3-08
1.34
=
_
_
$1.34
4
356,756
5-02
.30
+.10
+.25
=
$.65
Adjusted Price Low = $.65/SF
Adjusted Price High = $1.69/SF
Average Adjusted Price = $1.18/SF
After placing most weight on comparable sale #1 because of its location adjacent to
the subject, the per square foot value of the subject is called out $1.10/SF.
Subject 225,205 SF @ $1.10 = $247,725
Called $247,700
No ideal sales were available, but the foregoing comparable best represent the
subject. Comparable 2, 3, and 4 have similar market appeal with regards to location.
Bracketing of price per square foot and lot size was achieved.
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Blair, Nebraska - Wikipedia, the free encyclopedia
implement, and dry goods stores, a hotel, a bank, FIDS code 31-05350111
and a newspaper. A town board was formed in GNIS feature ID 0827479[21
August.
Page 2 of 4
Before the end of the year, the town called for an election to relocate the county seat, which at that time
was in Fort Calhoun. Blair won, and a brick courthouse was erected at 19th and Grant.
Construction was also progressing on the rail line. Before a railroad bridge was built across the
Missouri, freight cars were pushed onto barges on one side of the river, then pulled off on the other.
Since the engines did not cross the river, a roundhouse to service them was built north of town. When
the bridge was completed in 1882, that facility was dismantled and servicing was done in Iowa.
Local brickyards turned out 1,500,000 bricks per year to meet the demands of the city's rapid
development. In 1884 the community, predominantly Danish, raised $3,000 in matching funds and
appropriated several acres of land on which to establish a "folk school." The forerunner of Dana
College, Trinity Seminary was housed in a home until the impressive, four-story main building was
dedicated in 1886.
By then a city water system was in place, and South Creek, dug out by men with hand shovels, had been
straightened to improve the drainage on south side of town. A public high school was constructed before
the turn of the century.
Industries that sprang up along the railroad include: a mill which produced Maintop flour and livestock
feeds; a foundry manufacturing roller bearings; a laboratory which made patent medicines; a poultry
incubator plant employing about 40 men; and a horse collar company which employed up to 125 men,
until "horses left the drawbar scene."
A plant, built in 1889 to provide electricity for lights, was not dependable or profitable. In 1914 a new
municipal power plant was built and later a city ice plant was added to supply Blair with "safe ice,"
replacing the system of cutting it from the river.
Over the years, other enterprises came and went: a plant manufacturing spark plugs used in Model T
Fords; a canning company; a seed corn plant; and a church -publishing house. Currently, Kelly Ryan
Equipment Company, established in the mid -1940s, employs up to 50 persons. The D.L.Blair Company,
specializing in nation-wide promotion campaigns, was established in the 1970s. Mid America Computer
Corp. was also established in the 1970s and employs 200+ employees and servers over 300 clients in the
telecommunications industry.
The "Bee -Line" Highway, started in 1923, got little use until a bridge was built across the Missouri at
Blair in 1929. Later designated as Highway 30, paving was completed as a Federal Works project in the
1930s. Highways U.S.75 and State 91 and 133 were completed later.
1 � 1
Blair is located at 41032144"N 9608'4"W (41.545562, -96.134383)[4].
According to the United States Census Bureau, the city has a total area of 4.7 square miles (12.1 krn2), of
which, 4.6 square miles (12.0 kin 2) of it is land and 0.04 square miles (0.1 km2) of it (0.43%) is water.
Blair has its own hospital, the Memorial Community Hospital, and being the county seat, also has a
courthouse located in town.
httn-Hen.wikinedia.ora/wiki/Blair. Nebraska 10/29/2009
Nelsen Appraisal Services, Inc. Russ Nelsen CG 920 276
APPRAISAL AND REPORT IDENTIFICATION
This Appraisal Report is gaff of the following types:
❑ Self Contained (A written report prepared under Standards Rule 2-2(a) , pursuant to the Scope of Work, as disclosed elsewhere in this report.)
Summary (A written report prepared under Standards Rule 2-2(b) , pursuant to the Scope of Work, as disclosed elsewhere In this report.)
❑ Restricted Use (A written report prepared under Standards Rule 2-2(c) , pursuant to the Scope of Work, as disclosed elsewhere In this report,
restricted to the stated Intended use by the specifled client or intended user.)
Comments on Standards Rule 2-3
1 cattily 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 blas 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 cllent, 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.
I have (or have not) made a personal Inspection of the property that is the subject of this report
No one provided significant real property appraisal assistance to the person signing this certification. (if there are exceptions, the name of each Individual providing significant
real property appraisal assistance is stated elsewhere In this report.)
Comments on Appraisal and Report Identification
Note any USPAP related Issues requiring disclosure and any State mandated requirements:
This report is intended only for use in market value. This report is not intended for any other use. Further, the appraiser or firm
assumes,no obligation, liability or accountability to any third party. if this re ort Is pla6dd In the hands of anyone but the client
client shall make such party aware of all the assumptions and limiting conditions of the assignment.
This appraisal is not a home Inspection and the appraiser is not actinn as a home Inspector when Preparing the report, The
borrower has the right to have the home Inspected by a Professional home Inspector:
When Performing the Ins ection of this property, the appraiser visually observed areas that were readily accessible. The
a raiser is not required to disturb or move anything that obstructs access or vlslbllityt
When completing the appraisal, a visual Inspection was made. The Inspection is not technically exhaustive. The ins ection does
not offer warranties or guarantees of any kind.
APPRAISER:
Signature:
Name: Russ Ne sen cert, aDDralser
Date Signed: —,:x T —/
State Certification #: CG 920 276
or State License C
Slate: NE
Expiration Date of Certification or License:
Effective Date of Appraisal: ? ^ -17 3 — /
SUPERVISORY APPRAISER (only if required):
Signature:
Name:
Date Signed:
State Certification#:
or State license #:
State:
Expiration Date of Certification or license:
Supervisory Appraiser Inspection of Subject Property:
❑ Did Not ❑ Extedor•only from street ❑ Interior and Exterior
Form 1006 — "TOTAL for Windows' appraisal software by a la mode, Inc.—1.800•ALAMODE
❑ CURRENT SALES CONTRACT
The subject property is Currently not under contract.
The contract and/or escrow Instructions were not available for review. The unavailability of the contract is explained later In the addenda section.
❑ The contract and/or escrow Instructions were reviewed. The following summarizes the contract:
Contract Date Amendment Date Contract Price Seller
❑ The contract indicated that personal property wa nowt Included in the sale.
❑ The contract Indicated that personal property was Included, It consisted of
Estimated contributory value Is $
ElPersonal property was not t included In the sinal value estimate,
❑ Personal property was Included in the final value estimate.
❑ The contract Indicated no financing concessions or other incentives.
❑ The contract Indicated the following concessions or Incentives:
❑ It concessions or incentives exist, the comparables were checked for similar concessions and appropriate adjustments were made, if applicable, so
that the final value conclusion is in compliance with the Market Value defined herein.
❑ MARKET OVERVIEW Include an explanation of current market conditions and trends.
months is considered a reasonable marketing period for the subject property based on
❑ ADDITIONAL CERTIFICATION
The Appraiser certifies and agrees that:
(1) The analyses, opinions and conclusions were developed, and this report was prepared, In conformity with the Uniform Standards of Professional
Appraisal Practice ("USPAP"), except that the Departure Provision of the USPAP does not apply,
(2) Their 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.
(3) This appraisal assignment was not based on a requested minimum valuation, a specific valuation, or the approval of a loan,
❑ ADDITIONAL (ENVIRONMENTAL) LIMITING CONDITIONS
The value estimated Is based on the assumption that the property is not negatively affected by the existence of hazardous substances or detrimental
environmental conditions unless otherwise stated in this report. The appraiser is not an expert in the identification of hazardous substances or detrimental
environmental conditions, The appraiser's routine Inspection of and Inquiries about the subject property did not develop any Information that indicated
any apparent significant hazardous substances or detrimental environmental conditions which would affect the property negatively unless otherwise stated
in this report. it is possible that tests and inspections made by a qualified hazardous substance and environmental expert would reveal the existence of
hazardous substances or detrimental environmental conditions on or around the property that would negatively affect its value.
❑ ADDITIONAL COMMENTS
❑ APPRAISER'S SIGNATURE & LICENSE/CERTIFICATION
Appraiser's Slgnatur�-v - Effective Date / " f9 Date Prepared 7- / 3
Appraiser's Name (print) Russ Nelsen, cert. appraiser Phone # (402) 426-8020
State NE ❑ License ® Certification # CG 920 276 Tax ID # 47-0738888
❑ CO-SIGNING APPRAISER'S CERTIFICATION
❑ The co-signing appraiser hasp r onal y inspected the subject property, both inside and out, and has made an exterior Inspection of all comparable sales
Ifsted In the report, The report was prepared by the appraiser under direct supervision of the co-signing appraiser. The co-signing appraiser accepts
responsibility for the contents of the report including the value conclusions and the limiting conditions, and confirms that the certifications apply
fully to the co-signing appraiser,
❑ The co-signing appraiser has not personally Inspected the interior of the subject property and:
❑ has not Inspected the exterior of the subject property and all comparable sales listed in the report
❑ has Inspected the exterior of the subject property and all comparable sales listed in the report.
❑ The report was prepared by the appraiser under direct supervision of the co-signing appraiser. The co-signing appraiser accepts responsibility for the
contents of the report, Including the value conclusions and the limiting conditions, and confirms that the certifications apply fully to the co-signing
appraiser with the exception of the certification regarding physical Inspections, The above describes the level of Inspection performed by the
co-signing appraiser,
❑ The co-signing appraiser's level of Inspection, involvement in the appraisal process and certification are covered elsewhere In the addenda section
of this appraisal.
❑ CO-SIGNING APPRAISER'S SIGNATURE & LICENSE/CERTIFICATION
Co -Signing
Appraiser's Signature Effective
Date Date Prepared
Co -Signing Appraiser's Name (print) Phone #
State ❑ License ❑ Certification # Tax ID #
Page 2 of 2
Form MPA3 — "TOTAL for Windows" appraisal software by a la mode, Inc. —1.800-ALAMODE
APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that;
1. 1 have researched the subject market area and have selected a minimum of three recent sales of propertles most similar and proximate to the subject property
for consideration In the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the market reaction to those items of significant
variation, II a significant hem In a comparable property is superior to, or mdre favorable than, the subject property, I have made a negative adjustment to reduce
the adjusted sales price of the comparable and, if a significant item in a comparable property Is Interior to, or less favorable than the subject property, I have made
a positive adjustment to Increase the adjusted sales price of the comparable,
2. 1 have taken Into consideration the factors that have an Impact on value In my development of the estimate of market value in the appraisal report. I have not
knowingly withheld any significant Information from the appraisal report and I believe, to the best of my knotktadge, that all statements and Information in the
appraisal report are true and correct.
3. 1 stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the contingent
and limiting conditions specified in this form,
4. 1 have no present or prospective Interest In the property that Is the subject to 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 the estimate of market value in the appraisal report
on the race, color, religion, sex, 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,
5, 1 have no present or contemplated future Interest In the subject property, and neither my current or future employment nor my compensation for performing this
appraisal is contingent on the appraised value of the property,
6. 1 was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the amount of the value estimate,
the attainment of a specific result, or the occurrence of a subsequent event in order to receive my compensation and/or employment for performing the appraisal. I
did not base the appraisal report on a requested minimum valuation, a specific valuallon, or the need to approve a specific mortgage loan,
7. 1 performed this appraisal In conformity 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 as of the effective date of this appraisal, with the exception of the departure provision of those
Standards, which does not apply. I acknowledge that an estimate of a reasonable time for exposure in the open market Is a condition in the definition of market value
and the estimate I developed is consistent with the marketing time noted In the neighborhood section of this report, unless I have otherwise stated in the
reconcilla6on section.
8, 1 have personally Inspected the Interior and exterior areas of the subject property and the exterior of all properties listed, as comparables in the appraisal report.
I further certify that I have noted any apparent or known adverse conditions N the subject Improvements, on the subject site, or on any site within the Immediate
vicinity of the subject property of which I am aware and have made adjustments for these adverse conditions in my analysis of the property value to the extent that
I had market evidence to support them, I have also commented about the effect of the adverse conditions on the marketability of the subject property,
9, 1 personally prepared all conclusions and opinions about the real estate that were set forth In the appraisal report, if I relied on significant professional
assistance from any Individual or Individuals in the performance of the appraisal or the preparation of the appraisal report, I have named such Individual(s) and
disclosed the specific tasks performed by them in the reconciliation section of 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 the report; therefore, if an unauthorized change is made to the appraisal report, I will take
no responsibility for it
SUPERVISORY APPRAISER'S CERTIFICATION: It a supervisory appraiser signed the appraisal report, he or she certifies and agrees that:
I directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report, agree with the statements and conclusions of the appraiser,
agree to be bound by the appraiser's certifications numbered 4 through 7 above, and am taking full responsibility for the appraisal and the appraisal report,
ADDRESS OF PROPERTY APPRAISED: 4(}`
APPRAISER:
Name: Russ Nelsen, cert, appraiser
Date Signed: ~ ;2 7 -
State Certification #: CG 920 276
or State License #:
State: NE
Expiration Date of Certification or License:
SUPERVISORY APPRAISER (only if required):
Signature:
Name:
Date Signed:
State Certification #:
or State License #:
State:
Expiration Date of Certification or License:
❑ Did ❑ Did Not Inspect Property
Freddie Mac Form 439 6.93 Page 2 of 2 Fannie Mae Form 10048 6-93
Form ACit — "TOTAL for Windows" appraisal software by a la nwde, Inc, —1.800-ALAMODE
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