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HomeMy WebLinkAboutWarranty Deed - Daniel & Darleen Gage - 904 S FRIENDSWOOD DR THE STATE OF TEXAS • : KNOW ALL MEN BY THESE PRESENTS: COUNTY OF GALVESTON WARRANTY DEED That THE CITY OF FRIENDSWOOD, TEXAS, of the County of and State of_OI?, ,,C; , for and in consideration of the sum of TEN AND NO/100 DOLLARS ($10.00), and other valuable consideration to the undersigned paid by Grantees herein named, the receipt of which is hereby acknowledged,have GRANTED, SOLD AND CONVEYED, and by these presents doGRANT, SELL AND CONVEY unto DANIEL GAGE andl DARLEEN GAGE, of C v106 Wes+ V iE�� r) P. 14- .l f7 CoIE� unty of GU V 't- 1 , and State of Texas, all of the following described real property in GALVESTON County, Texas, to-wit: Being 0.030 acres of land, more or less, and being a part of 11.4003 acres of land out of Lots 15 and 16, Block 5, FRIENDSWOOD SUBDIVISION as recorded in Volume 238,Page 14 and Volume 254, Page 37 of the GALVESTON County Deed Records, in the Sarah McKissick or J.R. Williams League in GALVESTON County, Texas, 11.4003 acres of land from Thomas Montgomery, Trustee, to Ralph L. Lower as recorded in Film Code No. 002-72- 2285 in the GALVESTON County Deed Records dated December 23, 1983, the 0.030 acres being more particularly described by metes and bounds on Exhibit "A" attached hereto. This conveyance is made and accepted subject to the following matters, to the extent same are in effect at this time: 1) Any titles or rights asserted by anyone, including, but not limited to, persons, the public, corporations, governments or other entities, a. to tidelands, or lands comprising the shores or beds of navigable or perennial rivers and streams, lakes, bays, gulfs or oceans, or b. to lands beyond the line of the harbor or bulkhead lines as established or changed by any government, or c. to filled-in lands, or artificial islands, or d. to statutory water rights, including riparian rights, or e. to the area extending from the line of mean low tide to the line of vegetation, or the rights of access to that area or easement along and across that area. 2) Subject to any visible or apparent easements and/or rights of way on, over, under or across subject property, the existence of which would appear on a current survey. 3) Subject to title to oil, gas and other minerals of every kind and character, in, on and under the property herein described. 4) Subject to the exercise of the right of ingress and egress and/or any other right of privilege incident to the ownership of said mineral estate. 5)Subject to the terms, conditions and stipulations of that certain Mineral Lease, recorded inVolume 932, Page 663 in the office of the County Clerk of GALVESTON County, Texas.6)Subject to the zoning ordinances now in force in the City of Friendswood, Texas. TO HA VE AND TO HOLD the above described premises, together with all and singular the rights and appurtenances thereto in anywise belonging, unto the said DANIEL GAGE and DARLEEN GAGE, their heirs and assigns forever, and THE CITY OF FRIENDSWOOD, TEXAS, does hereby bind itself, its successors and assigns to WARRANT AND FOREVER DEFEND all and singular the said premises unto the said DANIEL GAGE and DARLEEN GAGE, their heirs and assigns, against every person whomsoever lawfully clai..TPing or to claim the same or any part thereof. EXECUTED this�dayof� ,200S. THE CITY OF FRIENDSWOOD, TEXAS BY:�t/,� ITS: Nl)�QI _,,.... THE STATE OF \-€4� COUNTY OF 1, F'-4'�'"" ,...,. This instrument was acknowledged before me on the � day of �W{ ' 20� by 1')1ml'.n,\\ \Al. !x\7gnd,ine_ , Lillll EV oTHE CITY OF FRIENDSWOOR TEXAS, and in the capacity therein stated. � -NOTARY PUBLIC, State of\E:,fetS �� �-,..,------= SLTLC-GAGE-00003602-gh • EXHIBIT "A'; Being 0. 03 0 acres of land, more or less, and being a part of 11.4003 acres of land out of Lots 15 and 16, Block 5, FRIENDSWOOD SUBDIVISION as recorded in Volume 238, Page 14 and Volume 254, Page 37 of the Galveston County Deed Records, in the Sarah McKissick or J. R. Williams League in Galveston County, Texas, 11.4003 acres of land from Thomas Montgomery, Trustee, to Ralph L. Lowe as recorded in Film Code 002-72- 2285 in the Galveston County Deed Records dated December 23, 1983, the 0.028 acres being more particularly described by metes and bounds as follows: CO:M:MENCING at the North corner of said 11.4003 acre tract as recorded in Film Code 002-72-2285; THENCE South 45 deg 00 min 00 sec--East, a distance of 240.00 feet to a point; THENCE South 45 deg 00 min 00' sec West, a distance of 100.00 feet to a ½ inch iron rod found for the POINT OF BEGINNING of the herein described tract ofland; THENCE continuing South 45 deg 00 min 00 sec West, a distance of 19.00 feet to a ½ inch iron rod set for corner; THENCE North 45 deg 00 min 00 sec We.st, a distance of 70.00 feet to an "X" set in concrete for corner; THENCE North 45 deg 00 min 00 sec East, a distance of 19.00 feet to an "X" set in concrete for corner; THENCE South 45 deg 00 min 00 sec East, a distance of 70.00 feet to the POINT OF BEGINNING and containing 0.030 acres of land, more or less. ,, I ... ,,_: ECONOMIC DEVELOPMENT AGREEMENT THE STATE OF TEXAS COUNTY OF GALVESTON § § § KNOW ALL MEN BY THESE PRESENTS: This ECONOMIC DEVELOPMENT AGREEMENT ("Agreement") is made and entered into by and between the CITY OF FRIENDSWOOD, TEXAS, a home-rule municipal corporation located in Galveston and Harris Counties, Texas ("Seller"), DANIEL AND DARLEEN GAGE, "Owner" of Shear Pleasure, a family owned and operated business located in the corporate city limits of Friendswood, Texas. 1. 2. 3. 4. 5. Authorization. This Agreement is authorized by the Texas Local Government Code, Notice of Sale or Exchange of Land by Political Subdivision, Chapter 272.001, (b), (1), narrow strips of land, or land that because of its shape, lack of access to public roads, or small area cannot be used independently under its current zoning or under applicable subdivision or other development control ordinances. Defined Terms. As used in this Agreement, the following terms shall have the meanings set forth below: a.''Fair Market Value" shall mean the current value of the property and existing improvements as certified by a Licensed Appraiser in the State of Texas. b."Economic Development" shall mean the process of creating wealth through the mobilization of human, financial, capital, physical, and natural resources to generate marketable goods and services. c."Subject Property" shall mean the 1330 Sq. Ft. parcel of property more specifically described in ABST 1514, Page 6, Lot E (5-1) Castlewood Park and as further described in Exhibit "A" attached hereto. Administration of Agreement. This Agreement shall be administered by the City Manager of the City of Friendswood. Term. This Agreement shall be effective upon execution by both parties. Representations. a.The "Owner" will purchase the "Subject Property" on or before August 1, 2003. Th.e Owner will pay t.½e "Seller", "Fair Market Value" for foe "Subject Property" as determined by a Licensed Appraiser. 6. b.The "Owner" will be responsible for all closing costs. c.The "Owner" will expand his/her business for "Economic Development" purposes by adding an additional ____ Square Feet of business space and by increasing his/her work force by an additional _____ employees, once the expansion has been completed. Entire Agreement. This Agreement contains the entire agreement between the parties and supersedes all other negotiations and agreements, whether 'Written or oral. .rv--.� TESTIMO\Y OF "WHICH, THIS AGREEMENT has been executed by the parties as of the-�-day of Jt 1 \J , 2003. ATTEST: ATTEST: By �Name: DclorisMcKenzie,TC Title: City Secretary - 2 - By: Name: -P(j/JI'--'=-•(.J:-4t r.,...r-;. v Title: CITY OF FRIENDSWOOD, TEXAS "Seller" '- By /;liJ1w.b Name: Kimball W. Brizendine Title: Mayor • ·-.,, DISCLOSURE TO BORROWER ABOUT BETTISON, DOYLE. AP.FFEL & GUARINO. P..C. I.REPRESENTATION OF LENDER'S INTERESTS In connection with the transaction you are closing today, a loan has been · d from a lending institution or individual owner under nee of Borro r's property or to refinance an earlier loan ma to Borrow r, or which Borrower assumed, that is cured on your prope . The lender is using the services of the w firm of BE NO, P .C. to represent e lender's interests in the various legal instrum ts and ioa_n documents · nnection with this transaction an further discloses that you must pay fir sucq services. By si ing below, Borr er is acknowledging that BETTISO DOYLE, AP & 0, P .C. has not represented the1 · tere given any legal advice concerning the contract ·-�-·-purchase the pro �, if applicable, or otherwise related to the property or to the legal instruments and loan documents executed in connection with the home loan transaction or the closing of the transaction itself. II.RELATIONSHIP OF LENDER ANDBETTISON,DOYLE, APFFEL & GUARINO, P.C. I:' · ngoing"attorney-client relationsh· " · der. :ison and Patrick F. �omeys with the firm of BE , DOYLE, APFFEL & holding companies of Texas In e ent Bancshares, Inc. and Texas First III.RELATIONSHIP OF TITLE COMP ANY AND BETTISON, DOYLE, APFFEL & GUARINO, P.C. Patrick F. Doyle partner with the law firm ofBETTISON, DOYLE, APFFEL & GUARINO, P .C. is the sole owner of Fee Holdings, Inc. d/b/a South Land Title Company located in Galveston, West End (Pirates Beach), Texas City, Kemah and League City, Texas, and American Title-Clear Lake located in Clear Lake, Pearland and Alvin, Texas. IV.RELATIONSHIP OF TAX SERVICE PROVIDER, PA TRICK F. DOYLE AND FEE HOLDINGS, tNC. Patrick F. Doyle and Fee Holdings, Inc. are the sole owners or have an ownership interest in Realty Tax Search, Inc., which provides ad valorem tax searches, collects, stores and disseminates real estate information regarding your closing transaction and a standard fee for services related thereto. V.RELATIONSHIP OF CLOSING COORDINATOR ANDBETTISON, DOYLE, APFFEL & GUARINO, P.C.Patrick F. Doyle, partner in the law firm of BETTIS ON, DOYLE, APFFEL & GUARINO, P.C. is the sole owner or has an ownership interest in FEE HOLDINGS, INC. d/b/a SETTLEMENT SERVICES which provides closing coordinator services for real estate transactions. VI.FREEDOM TO HIRE A LA \VYERBy signing below, each party hereto acknowledges that they may consult independent counsel or hire an attorney to represent them regarding this transaction and its consequences. -, VII.OBLIGATION TO PAY LEGAL FEES By signing below, each party acknowledges that they must pay at the time of closing, or on demand, the legal fees of BETTIS ON, DOYLE, APFFEL & GUARINO, P.C. as each party may have agreed to pay in the contract of sale and purchase or in the loan application or any other document they may have signed. The charges for the services ofBETTISON, DOYLE, APFFEL & GUARINO, P .C. are set forth on the closing statement or settlement statement furnished by the closing agent. You have not been charged any fee for preparation of any Truth-in-Lending Statement or RESP A Good Faith Estimate of closing costs. Additionally, attached hereto as Exhibit "A" and incorporated herein is BETTISON, DOYLE, APFFEL & GUARINO, P.C. ('BDAG") is Affiliated Business Arrangement Disclosure Statement which sets forth providers service, BDAG's relationship and Settlement Service Charge or range of charges. VIII.DESCRIPTION OF LEGAL SERVICES In representing the lender's·interest in this loan transaction, BETTISON, DOYLE, APFFEL & GUARINO, P.C. provided a variety of services of a legal nature. BETTISON, DOYLE, APFFEL & GUARINO, P.C. reviews as necessary the sales contract, survey, title report or commitment of title insurance, various documents of record such as restrictions and easements, and typically prepares such instruments as the Note, Deed of Trust, Affidavits and various miscellaneous documents required by the lender. Furthermore, each party hereto acknowledges thatBETTISON, DOYLE, APFFEL & GUARINO, P.C. may have prepared certain documents upon the request of SOUTH LAND TJTI,E COMPANY and AMERICAN TITLE COMP ANY, and has not in many manner, undertaken to assist or render legal advise to the undersigned, with respect to this transaction. The Attorney preparing the documents represent SOUTH LAND TITLE and AMERICAN TITLE COMPANY. Each party hereto have been provided with an opportunity to examine the title commitment issued by the title company in this transaction, and are satisfied with the contents of said commitment. Further, they agree and understand that this transaction is not "closed" until all disbursements are made on behalf of all parties. In the event there are any additional charges for anyone furnishing services, requiring payoff, or by any taxing authority, each party hereto will pay same upon written request. The undersigned understand and agree that the parties may allocate payment oflegal fees between themselves as they may agree. IX.WHAT SIGNING THIS MEANS By signing below, you acknowledge to the lender and to BETTISON,DOYLE, APFFEL & GUARINO, P.C. that they have received a copy of the disclosure, that they have read all of the above statements, you understand them and aoknowlodgo "'"2ff-bo,n stated in fuis disdoswco is accurate ,nd truthful. SIGNED o/s the -day o����-1--20Q5 � --I /){\ , � /I -----..f--!::!=..!_�-=--IV_·�k-..:::-�:::_-_:=:- � ffeu:<f/ /-J �/Seller Seller . _PFD�BDAG--DISl-kq rev.1/2003 *Original Returned to Lender with Package* *Copy to Borrower* EXHIBIT"A" AFFILIATED BUSINESS ARRANGEMENT DISCLOSURE STATEMENT TO: FROM: BETTISON,DOYLE,APFFEL&GUARINO,P.C.(BDAG) DATE: This is to give you notice that BETTISON, DOYLE, APFFEL & GUARINO, P.C. (BDAG) has a business relationship and ownership interest in and with Realty Tax Search,Inc.,Fee Holdings,Inc.d/b/a Settlement Services,South Land Title and American Title. Patrick F.Doyle.partner in the law firm of Bettison,Doyle,Apffel&Guarino is the sole owner, or has an ownership interest in Fee Holdings, Inc. d/b/a Settlement Services (closing coordinator of real estate transactions),Fee Holdings,Inc.d/b/a South Land Title and American Title(real estate closing services),Realty Tax Services, Inc. (which provides ad valorem tax services, collects, stores and disseminates real estate information), and South Land/American Insurance Services. Set forth below is the estimated charge or range of charges of the settlement services listed. You are NOT required to use the listed provider(s) as a condition for closing your transaction of the subject property. THERE ARE OTHER SETTLEMENT SERVICE PROVIDERS AVAILABLE WITH SIMILAR SERVICES. YOU ARE FREE TO SHOP AROUND TO DETERMINE THAT YOU ARE RECEIVING THE BEST SERVICES AND THE BEST RATE FOR THESE SERVICES. Provider and Settlement Services Charge or Range of Charges South Land Title Company and (premium fees as set by American Title Company State Board of Insurance and vary depending on value of transaction and credits available to consumer) Realty Tax Search,Inc. $75.00 to$85.00 Settlement Services $250.00/transaction South Land/American Insurance Services $100-$5000(varies by state and amount and type of coverage obtained Higher amounts may apply for large or High cost properties optional coverages. To: Mayor and City Council City Manager From: Date: Community Development Coordinator 3/4/2004 Community Development Re: Commercial Site Plan -Shear Pleasure Hair Salon Attached please find the commercial site plan for revising the site of the Shear Pleasure Hair Salon. The Planning and Zoning Commission approved the site plan at its regular meeting on February 25, 2004. Changes to the original site include an expansion to the rear of the building as well as a new employee parking lot added behind the salon. cc: Building Official Deputy Director of Community Development 05/19/03 2019 Ordinance No. 84-15, as amended, originally adopted the 19th day of November 1984, and being the Zoning Ordinance of the City, by changing the Zoning Classification of a certain b.62-acre tract of land from Single­ family Residential (SFR) to Multi-Family Residential-Medium (MFR-M), said tract being situated in the Mary Sloan Survey, Abstract Nb. 184, Galveston County, Texas, and within the City; providing for the amendment of the Official Zoning Map of the City; providing for severability; and providing a penalty of an amount not to exceed $2,000 for each day of violation of any provision hereof. Seconded by Councilmember Ericsson. The motion was approved 6 to1, with Councilmember Ewing opposed. CONSENT AGENDA **Councilmember Goza moved to approve the Consent Agenda as presented, with the exception bf Item G- 1, Approve Disposition of City Property.-1. Transfer Lot 39 in Imperial Estates to the Galvesto_n County Consolidated Drainage District. A. Payment of Capital Projects -1. Municipal Court Renovations with payment in the amour:,t of $25,355.00 to Frost Constructors for construction s�rvices. To date, 100 percent of the contract has been expended. 2. Rer:iwick Park Lighting System with payment in the amount of $17,236.80 to Instrumentation and Electrical Specialist, LLC, for construction services which is $19,152.00 less retainage in the amount of $1915.20. To date, 100 percent of the contract has been expended and are holding $5,040 in retainage. 3. Booster Pump Station Replacement with p,ayment in the amount of $1,274.90 to T & C ·Construction, Ltd., for construction services which is $1,342 less retainage in the amount of $67.10. To date, 99 percent of the contract has been expended. 4. 24" Surface Water Trunk Line with payment in the amount of $52,449.81 to Calco Contracting, Inc., for construction services which is $11 ,341.80, plus retainage in the amount of $41,108.01. To date, 100 percent of the contract has been expended. Total payments were $96,316.51. B. Approve cJisposition of Bid No. 2003-04 for Janitorial Services. C. Approve amended contract with Perdue, Brandon, Fielder, Collins & Mott, L.L:P., for the Collection of Delinquent Taxes. D. Approve lnterlocal Agreement with Harris-Galveston Coastal Subsiderice District for a \'.\fater Conservation Program in conjunction with F!SD. E. Approve Grant Application for Public Education on Fire Safety Program for $84,248 with a 1 O percent match. F. Approve the Proposal for Surveying Services for the Ann alea/Kingspark/Whitehall Drainage Project from C.L. Davis & Company. G. Ap.prove Disposition of City Property -2. Sale of property adjacent to Shear Pleasure Salon to Daniel Gage. H. Appr-ove Banner Permit Application for First Baptist Church of Friendswood. I. Approve Property Tax Report for April 2003. J. Approve. Minutes of April 14 and 21, 2003, Meetings. Seconded by Councilme(nber Ericsson. The motion was approved unanimously. A motion was made and approved to adjourn at 7:40 PM. Attest: . . loris McKenzie, TRM �ity _Secretary ,J � � \ iLlJ!.Q bv"�� Mayor Kimball W. Brizendine . 1.Authorize the transfer of ownership of Lot 39 in Imperial Estates Subdivision to the Galveston County Consolidated Drainage District! You may recall, the Galveston County Consolidated Drainage District (GCCDD) · and the City participated equally in the purchase of a lot in Imperial Estates Subdivision that was not subject to the federal FEMA Buyout Program. Lot 39 in Imperial Estates was purchased from Mr. Charlie Brown, and we will share equally in the cost with GCCDD. The Council's purpose and intended use of these lots is first for improvements to drainage. This lot is key to the GCCDD for the development of a comprehensive drainage improvement plan in the Imperial Estates area, along Clear Creek and Mary's Creek. GCCDD is ready to accept the responsibility for the maintenance and any drainage improvements to this lot. This city will be working toward transferring several more lots that were a part of the Buyout Project once the FEMA grant program is closed out. We are nearing completion of that grant project, and as soon as FEMA conducts their final audits, we will work toward the transfers. The City and GCCDD will equally share the costs of the transfer. Recommendation. Authorize the transfer of Lot 39 in Imperial Estates Subdivision to Galveston County Consolidated Drainage District, and authorize the Mayor to sign the documents associated with the transfer. Attachments I . Memo dated May 13. 2003 from Jon Branson. Director of Community Services 2.Survey of Lot 39 2.Authorize the sale of 1,330 square feet of property adjacent to City Hall to Daniel Gage. Several weeks ago, we discussed with Council, in Executive Session, the request by Mr. Daniel Gage to purchase a small portion of property he now has under lease from the city. The leased property is a portion of the paved parking area adjacent to his business at Sheer Pleasure Hair Salon, next to the City Hall property. Mr. Gage has been planning an expansion of his building. Given the size of his property, he cannot make an adequate expansion, and meet the set back requirements per the Zoning Ordinance, without the use of this additional minimal amount of property. The property is being sold for market value, and all expenses associated with this sale are being borne by Mr. Gage. The property is a 19-foot by 70-foot parcel, consisting of 1,330 square feet. The property is appraised at $3 .17 per square foot, for a total of $4,216. Agenda2003/05.3/tsm02 Recommendation. Authorize the sale of 1,330 square feet of property to Mr. Daniel Gage, for a price of $4,216, with Mr. Gage bearing all expenses associated with the sale, and authorize the Mayor to sign the documents associated with this sale. Attachments H. 1.Memo from Jon Branson. Director of Community Services. dated May 13. 2003 2.Survey of Property Approve Banner Permit Application for First Baptist Church of Friendswood. The First Baptist Church is planning their annual Vacation Bible School and requests a banner to advertise the event. Staff has reviewed the application and all required paperwork has been submitted. The banner is requested for the week of June 16-23, 2003. Recommendation. Approve the application for a banner permit from the First Baptist Church of Friendswood. Attachments 1.Banner Permit Application I.Property Tax Report. The Property Tax Report for the month of April 2003 has been submitted by Tax Assessor/Collector Rebecca Carbone. It is included here for your review. Attachments 1.Property Tax Report J.Approve Minutes of April 14 and April 21, 2003 Meetings. Attachments 1.April 14. 2003 Minutes 2.April 21. 2003 Minutes Agenda2003/05.3/tsm02 CITY OF FRIENDSWOOD AGENDA ITEM FOR THE CONSIDERATION OF THE CITY COUNCIL AGENDA DATE 1s119;03 I DEPARTMENT OF ORIGIN !Community Services DATE SUBMITTED 1s113102 I PREPARED BY IJon R. Branson SUBJECT !Sale of Property to Daniel Gage PROCEEDING (WKSN, P.H., C&PA, RES., ORD., or CONSENT)!Consent DEPT. CLEARANCES! EXHIBITS !Subject Parcel of Property APPROVED BY CITY MANAGER I I EXPENDITURE REQ $ !None IAMT BUDGETED $ I I APPROPRIATIONREO $ ISOURCE OF FU NDS !NIA STAFF SUMMARY AND RECOMMENDED ACTION: In February, Mr. Daniel Gage, owner of Shear Pleasure appro!3-ched the City of Friendswood to see if the City would consider selling him a portion of property that adjoins City Hall and his business so that he could add on to his existing building. It was ultimately determined that Mr. Gage would need to purchase a parcel of property from the city with the dimensions of 19' x 70' to expand his business. In order to determine the value of the subject property, I commissioned Southland Title Company to obtain an appraisal on the property. On behalf of Southland Title Company, The Wilkenfeld Company performed an appraisal on the subject tract. The recommended appraised value of the property is $3 .17 per square foot. Should Council decide to sell this parcel of property to Mr. Gage, it is my recommendation that the sale price be set at $3.17 per square foot as determined by the appraisal or $4,216 for the subject partial. It is also recommended that the closing costs including the survey, the appraisal and all incidental costs to complete the transaction be the responsibility of Mr. Gage. Melinda Welsh From: Sent: To: Subject: ASAP -----Original Message----- From: Jon Branson Deloris Mckenzie Monday, May 12, 2003 3:03 PM Melinda Welsh FW: Galveston County Taxes Sent: Monday, May 12, 2003 2:34 PM -To: Deloris Mckenzie Cc: Ron Cox Subject:Galveston County Taxes While putting together the closing documents for the parcel of property that we are considering to sell to Daniel Gage of Shear Pleasure, I was informed by Southland Title Company that the City owes a total of $3,962.61 in back taxes to Galveston County on the subject property. I believe that we acquired the property via donation and purchase in 1986 from Ralph Lowe. The property in question is described as 3.8393 acres of land from ASST 1514, Page 6, Lot E (5-1). The original taxes due on the property in 1986 were $1,118.61 and have grown to $3,962.12 with late fees and interests. In order to move forward with the sale, we either need to pay the back taxes or show proof that they were paid in 1986. Do we have a title policy for this transaction and if so, can I get a copy of it to show that the taxes were paid in 1986? Please let me know what you find out. JRB 1 1/17/03 cc: M&CCJRB January 8, 2003 Mr. Ron Cox and City Council City of Friendswood 910 S. Friendswood Dr. Friendswood, TX 77546 Dear Mr. Cox and Council Members, � ln1:!JJ.00if!jtre � �\s,tnna /.Q·y,,_-'\i>,.\ .,�' �·,� A <P._-, '� Gf>. 0 �' ,::::::JAN 2003 �-'c:::::>�� -.. -·).lb) RECEIVED �I \<P CITY OF FRIENDSWC-00 �1�· . _CIT¥ SECRETARY � �!\-?s 1,�I. ��� r: 7 t r\��\'r ��� I am writing in regards to the strip of property behind and adjacent to Shear Pleasure Salon that you agreed to sell. The estimated dimensions of property are 19' deep by 70' wide. Exact dimensions can be confirmed upon survey of property. Please know that I will pay all cost associated with sale of property which would include survey, appraisal and all other closing cost. Thank you for your help and cooperation regarding this matter. If you have any questions please contact me at 7i3-542-8938. ;p;1:;tA� Daniel Gage f L5 . .1-ct 4.t ,,F: l '-(. 0 1'I T' /J,,'.J.5 1t L� or Pp71i. fu-eJ.hi,d It 11 F\fe,J� "-.J. T � l,.Jt, AJt '(Al 81te. It.. uPf /'ti Fi L '<. • 904 S. FRIENDSWOOD DR. FRIENDSWOOD, TEXAS 77546 (281)482-3381 FAX (281) 482-1403 . . SETTLEMENT CHARGES CONT. FILE NUMBER: 96676-W The undersigned understands the Closing or Escrow Agent has assembled this information representing the transaction from the best information available from other sources and cannot guarantee the accuracy thereof. Any real estate agent or lender involved may be furnished a copy of this Statement. The undersigned understands that tax and insurance prorations and reserves were based on figures for the preceding year or supplied by others or estimates for the current year, and in the event of any change for the current year, all necessary adjustments must be made between Purchaser and Seller direct. The undersigned hereby authorizes TITLE CO. to make expenditures and disbursements as shown above and approves same for payment. We acknowledge receipt of a copy of the SETTLEMENT STATEMENT. WARNING: It is a crime to knowingly make false statements to the United States on this or any other Penalties upon de a fine or imprisonment. For deta_:!2-s see: Title 18 U.S. Code Section Seller �--------------><-----4--------Purchaser, :::c ,�-----_, ..,--74 , THE CITY OF Seller ---------------------- We hereby certify Purchaser r >--V ............. c--:::::: 71c of the transaction as closed. Escrow Officer I.__.<' I V v I ,y·�11 V V Y ::P' '-------:'.'.: SOUTH LAND TITLE COMPANY 4 AFFIDAVIT AS TO DEBTS, LIENS, POSSESSION AND TAXES GF#: 96676 W STATE OF TEXAS COUNTY OF GALVESTON SUBJECT PROPERTY: GALVESTON TX BEFORE ME, the undersigned authority, on this day personally appeared: THE CITY OF FRIENDSWOOD, TEXAS, personally known to me to be the person(s) whose name is(are) subscribed hereto and upon his(their) oath deposes and says: The undersigned represent(s) to SOUTH LAND TITLE COMPANY, hereinafter the company, to his, her, their best knowledge that, 1.Except as noted below, there are no parties occupying, renting, leasing, residing or possessing the subject property or any portion thereof, nor is the undersigned aware of any parties claiming title to the subject property or any portion thereofby reaNfi.iEverse possession, excep< 2.No unpaid debts for plumbing fixtures, water heaters, swimming pool, furnaces, air conditioners, radio or television antennae, carpeting, rugs, lawn sprinkling systems, venetian blinds, window shades, draperies, electric appliances, fences, street paving assessments, or any personal property or fixtures that are located on the subject property described above, _and that no items have been purchased on time payment contracts and there are no security interests on such property secured by financing statements, security agreements, or otherwise except the following: Secured Party Nmi� Approximate Amount 3.No liens of any kind against such property except the following: Secured Party NM Approximate Amount IT IS UNDERSTOOD BY THE UNDERSIGNED THAT THE PAYOFF AMOUNT(S) ON LOANS LISTED ABOVE IS/ARE IN ACCORDANCE WITH STATEMENTS GIVEN BY THE LENDING INSTITUTIONS AND SHOULD THE NOTEHOLDER REQUIRE ANY ADDITIONAL AMOUNT IN ORDER TO RELEASE SAID INDEBTEDNESS(ES) THE UNDERSIGNED AGREE(S) TO PAY THAT ADDITIONAL AMOUNT AND HOLD THE COMPANY AND ITS UNDERWRITER HARMLESS FROM SUCH ADDITIONAL AMOUNT AND ANY OTHER LIEN INCLUDING AD VALOREM TAXES NOT SPECIFICALLY REFERENCED ABOVE. There are no delinquent ad valorem taxes owing against the subject property. There are no federal or state taxes due by the undersigned for which a lien has not been filed but which have been assessed. There are no liens of any kind or character or claims for against the property, and we nave signed no petitions street or alley adjoining this property and know of circulated for payment. (CONTINUED ON FOLLOWING PAGE) paving outstanding for the paving of the no petitions being ,; All labor and material used in the construction of improvements on the above described property have been paid for there are now no unpaid labor or material claims against the improvements or the property upon which same are situated, and the undersigned hereby declare(s) that all sums of money due for the erection of improvements have been fully paid and satisfied, except as stated on the reverse hereof. There are no proceedings in bankruptcy or receivership, that have been instituted by, or against me/us, and I/we have never made an assignment for the benefit of Creditors. Further, the undersigned has claimed no exemptions relating to ad valorem taxes to which he/she/they/it are not entitled. CONDOMINIUMS: We as Owners or Mortgagors are aware of certain obligations imposed upon us by the terms and conditions of the Declaration of Covenants, Conditions and Restrictions that affect the above described property and that we have paid all past and current assessments and dues assessed by the association created -by the condominium regime. The undersigned realize(s) Company and its Unmziter to -�=�f ��f1<). s. McNAMA�� ���D l'!otarf P�blic, Slate ol 1exas � �); My Commission Expires 6-10-2005 i:i;:;:-.--,·�ll. �,..,.,. SUBSC� s���o BEFOREday o � ,.,,_.. / STATE OF\� that these representations are made to induce the insure the title to subject property and tenants: --� �-� THE CITY OF FRIENDswoOD,TEXAS Notary Publfc ,-state of Notary's Printed Name My commission expires: ...._,; TEXAS this� COUNTY OF � This instrument was acknowledged by THE CITY OF FRIENDSWOOD, TEXAsC before me, this�day o TITLE COMPANY DISCLOSURES GUARANTY FILE NO.: ct loli1 lo vJ SELLER (whether one or more): � 0 b W[�(A..� BUYER (whether one or more): Un, {))Ju/LENDER: CJ;JPA ~o·-a-PROPERTY: SEE ATTACHED EXHIBIT "A" By initialing some or all of the following items as may be appropriate for this transaction, each SELLER and/or BUYER acknowledges their understanding of the disclosures being made by SOUTH LAND TITLE/AMERICAN TITLE (hereinafter called "Title Company"). Each disclosure is being made to Buyer and Seller on behalf of both TITLE COMP ANY and its title insurance underwriter. Buyer's �� 1)W AIYER OF INSPECTION. In consideration of the issuance by TITLE COMP ANY to BUYER of either an Owner Policy of Title Insurance (T-1) or a Residential Policy of Title Insurance (T-IR)-(in this document, either such policy, unless specifically referred to otherwise, is referred to as the "Owners Title Policy") insuring good and indefeasible title to the Property, except as to be shown in Schedule B of the Owner Title Policy and subject to the t�rms and conditions of such Owner Title Policy, BUYER hereby waives any obligation on the part of TITLE COMP ANY to inspect the property. Buyer agrees to accept an Owner Title Policy containing the Schedule B exception for "RIGHTS OF PARTIES IN POSSESSION". "Rights of Parties in Possession" shall mean one or more persons or entities who are themselves actually physically occupying the property or a portion thereofun<iler a claim of right adverse to the insured owner of the Property as shown on Schedule A of the Owner Title Policy. Within the meaning of this exception, "possession" includes OJi>en acts or visible evidence of occupancy and any visible and apparent roadway or easement on or across all or an part of the Property, butthis exception does not extend to any right, claim, or interest evidenced by a aocument recorded in the real estate records maintained by the County Clerk of the County in which the Property is located. However, if the BUYER does not initial this paragraph, the BUYER is indicating the BUYER'S refusal to accept the Owner Title Policy containing an exception as to "RIGHTS OF PARTIES IN POSSESSION". The TITLE COMP ANY may then require an inspection of the Property and additional charges may be assessed for the reasonable and actual .costs of such an inspection. TITLE COMP ANY may make additional exceptions in Schedule B of the Owner Title Policy for matters as revealed by such inspection .. Buyer's � Buyer's � Buyer's �- 2)RECEI!PT OF COMMITMENT. BUYER herebyacknowledges having received and reviewed a copy of theCommitment for Title Insurance issued in connection withthe above referenced transaction and any copies of thedocuments described therein requested by BUYER.BUYER understands that the Owner Title Policy willcontain the exceptions set forth in Schedule B of theCommitment for Title Insurance, together with anyadditional .exceptions to title resulting from the finaldowndate search of the public records and from thedocuments involved in this transaction and any additionalexceptions for items shown on Schedule C of theCommitment for Title Insurance which have not beenresolved.3)UNSURVEYED PROPERTY. BUYER understandsthat no up-to-date survey of the Property has been done inection with this transaction and that the Owner Policy to be 1 ed to BUYER will not provide title insurance coverage aig · st encroachments and/or protrusions of improvements, b dary conflicts, or other matters that would be found by a c ent survey. TITLE COMP ANY has not attempted to dete · e if the Property lies in a special flood-plain or flood haz area, and TITLE COMP ANY has not made any repre tation concerning proximity of the Property in relation to an cod-plain or flood hazard area. BUYER is advised that in ation concerning special flood hazard areas may be ava1 le from county or municipal offices, a qualified surveyor land-engineering company, or a private flood-plain consultant. 4)ACCEPTANCE OF SURVEY. BUYER has receivedand reviewed a copy of the survey of the Property made inconnection with this transaction and acknowledges beingaware of the following matters of encroachment,protrusion, conflict, or discrepancy disclosed by thesurvey.··-4b) BOUNDARY COVERAGE. As proposed to beissued, BUYER'S Owners Policy will contain a generalexception to any discrepancies or conflicts in area or boundary liines, and any encroachments, protrusions, or overlapping of improvements. On payment of an additional JS% of the Owner Policy Premium, policy coverage aigainst these matters is available, subject to TITLE COMPANY'S approval of a current survey of the property amd without limiting specific exceptions to matters disclosed by the survey. BUYER DECLINES TO OBTAIN THIS ADDITIONAL COVERAGE. Buyer's Initials Buyer's )!!)_i� xm- 5)PROPERTY TAX PRORATIONS. Property taxes for the current year have.been prorated between the BUYER and SELLER, who each acknowledge and understand that these prorations are based upon (a) the sales price or the most current appraised value available and the most current tax rate available or (b) some other common method of timation. SELLER warrants and represents that there are no p t due taxes owed on the property and if such warrant , d representation is untrue, the SELLER shall reimburse T1 Company, on demand, for any sums paid by the Title Com y to pay such taxes, and any related penalty and interest. BUYER a111d SELLER eac ree that, when amounts of the current years taxes beco known and payable ( on or about October 1 st), they will ·ust any changes of the prorations and reimbursement be een themselves and that TITLE COMP ANY sh have no liability or obligation with respect to these prora ions. 6)TAX RENDITION AND EXCEPTIONS. Although the Central Appraisal District (CAD) may independently determine BUYERS new ownership and billing address, BUYER is still obligated, by law, to "render" the property for taxation by notifying the CAD of the change in theproperties ownership and of BUYERS proper address for tax billing. BUYER is advised that current years taxes mayhave been .assessed on the basis of various exceptionsobtained by seller ( e.g., homestead, over 65). It is the BUYERS responsibility to qualify for BUYERS own tax exemptions and to meet any requirements prescribed by the taxing authorities. BUYER acknowledges and understands these obligations and the fact that TITLE COMP ANY assumes no responsibility for future accuracy of CAD records concerning ownership, tax­ billing address, or status of exemptions. 7)HOMEOWNER'S ASSOCIATION. BUYER acknowledges that ownership of the property involves membership in homeowners, condominium, or other operty owners association, to which monthly or annual due assessments may be owed. These dues or assessme may be enforceable by a lien against the property. B R understands that the association ( or its managing agent) s Id be contacted by BUYER immediately to ascertai e exact amount of future dues or assessments. TITLE COMP representations with respect to, s association's annual budget, pending repairs or deferred m · tenance, if any, or other debts of the association. BUYER ac ts sole responsibility to obtain such information and VeF.ify its accuracy to BUYER'S satisfaction. � Seller's Initials Buyer's 1J Buyer's 9- Buyer's fi 8)CLOSING DISCLAIMER. SELLER and BUYER each acknowledge and understand that the above referenced transaction has not yet "closed". Any changes in possession of the property takes place AT BUYERS AND SELLERS OWN RISK. THIS TRANSACTION IS NOT "CLOSED" UNTIL: A), ALL TITLE REQUIREMENTS ARE COMPLETED TO THE SATISFACTION OF TITLE COMPANY,B)• ALL NECESSARY DOCUMENTS ARE PROPERLY EXECUTED, REVIEWED AND ACCEPTED BY THE PARTIES TO THIS TRANSACTION AND BY TITLE COMP ANY; AND, C)ALL FUNDS ARE COLLECTED AND DELIVERED TO AND ACCEPTED BY THE PARTIES TO WHOM THEY ARE DUE. 9)ARBI1'RATION. This paragraph does not apply to the Residential Owners Policy (T-JR). The parties may later agree to arrbitrate under the Residential Owner Policy (T-JR). You may require deletion of the arbitration provision of the Owner Policy. If you do not delete this provision, either you or the company may require arbitration, if the law allows. There is no charge to delete this provision. IF YOUR POLICY IS NOT A TEXAS RESIDENTIAL OWNER POLICY (Tl-R), YOU MAY REQUIRE DELETION OF THE ARBITRATION PROVISION BY MARKING OUT THIS P.ARAGRAPH #9. 10)IRS REPORTING. SELLER acknowledges havingre · ed at closing a copy of the HUD-1 Settlement Statemen a substitute form 1099-S. In accordance with Federal Tax Reg ·ons, information from the HUD-1Statement will be fumis o the Internal Revenue Service. 11)ERRORS AND OMMISSIONS. In the event tliat any of the docl!lments prepared in connection with the closing of this transaction contain errors which misstate or inaccurately reflect the true and correct terms, conditions, fees, and provisions of this closing, and the inaccuracy or misstatement is due to a clerical error or to a unilateral mistake on the part of the TITLE COMP ANY or to a mutual mistake on the part of the TITLE COMPANY and/or SELLER and/or BUYER and/or LENDER and/or ATTORNEYS REPRESENTING SAME, the undersigned agree to execute, in a timely manner, such correction documents and/or reimburse payment of funds due toremedy miscalculation as TITLE COMP ANY may deem necessary to correct such inaccuracy or misstatement. BUYER/SELLER acknowledge understanding that incertain circumstances the closing statement has been prepared with an estimated date for the transaction to fund. In the event the date of actual funding varies from the estimated funding date, BUYER/SELLER expressly authorize the TITLE COMP ANY to change payoffs and prepaid interest to reflect the actual funding date to expedite the payoff process and minimize accrual of Seller's Initials Buyer's � Buyer'sA· additiona] per-diem interest, without the need for BUYER/SELLER to return to the TITLE COMP ANY and initial the changes. 12)ATTORNEY REPRESENTATION AND NOTICE. BUYER may wish to consult an attorney to discuss the matters shown on Schedules B or C of the Commitment for Title Insurance that was issued in connection with this transaction. These matters will affect the Title and use of the property. The Title Insurance Policy will be a legal contract between BUYER and the Underwriter. Neither the Commitment for Title Insurance nor the Title Insurance Policy are abstracts of title, title reports or representations of title. They are contracts of indemnity. No representation is made that your intended use of the property is allowed under law or under the restrictions orexceptions affecting the property. 13)ELECTRONIC TRANSFER OF DOCUMENTS. BUYER and SELLER will hold TITLE COMP ANY ,and ATTORNEYS REPRESENTING SAME harmless from any loss or claim related to errors and /or omissions by TITLE COMP ANY and/or third parties in the electronic transfer of documents. � S�LL�R'S SIGNATURE 'x�'v� ---- County of ':4 \A 1,1 "....,,,,,..._ j. :,:::,$::,._����--\:SSC;.,;� 1/. ... -i,:v,;•� l ◊\l�.: .... _v�,i �/� ;-,,'< S.Mcl\JAMARA 1 • ( ��). Nota,y Public, State of Texas i V�•,, .... ,.1[l' My Commission Exp,res 6-10-2005 /� ""-::.£r .... �" !ii,�'<;;!£���� ) ) Notary Public, State of Texas BUYER'S SIGNATURE State of '"f,J Z"''-r=11 County of ur t'u./Vt,r vv ) ) o�'S5SS��@..�<fl,; (l) ...,,-""'>¾.. �-! fi•��l\V PIJe;-,, ;f-✓�fD" S.McNAMARA ., ' · . ,_ _..;,: J. Notary Public, State of Texas J!� ��-,.�m•10•� llt,,.,::��� •�.'-"..'✓-:-day of � Notary Public, State of Texas SOfJTJ!-L!NJ) . .=TITLE ii.. GF# Ql£y[p1� \rJ Date: 1-a803 Notary: C),�� TYPE OF DOCUMENT: --+-Deed � Affidavit as to Debts and Liens _/__ Title Company Disclosure -- Deed of Trust Water District Notice NSP Affidavit Marital Status Affidavit Non-Homestead Affidavit --Survey Affidavit Other Charge: )fJ" --------------Other --------------Other -------------- ********************PLEASE FILL OUT ALL INFORM ATION BELOW*************** NMIB �� ADDRESS: [ s_ frtciicb6Jccd Ov. CITY: f½it_ STATE: ----ZIP 1)!15tj(; ****************************************************************************** I affirm that by my signature hereon that I am the person whose name appears on the referenced documents and that I have signed said documents for the purposes and consideration therein expressed. 1 J .. . r. Signature� /CJ!.J!P tv �TIN/SS#: _______ _ Signature: _________________ _ TIN/SS#: _______ _ SOUTl!·LANJ) .=TITLEi';i.. SELLER'S ADDRESS tot: NAME GtlO 0, WlfJlci3l0u!v t;w. STREET ADDRESS,# AND APT ,IF ANY W�tV\cl;�� � CITY AND STATE ,,'{\ t1 i4 I --.-�·/ ZIP CODE lO � TELEPHONE - HOME TELEPHONE -OFFICE Set '')(" In COnc. 008-63-2707 Set "X" ®= S45 °00'00''E Q)z)c. 240.00 ' ®= S45 °00'00"W100.00'@= S45 °0 0'00"W19.00' @ = N45°00' OO"W 70.00 1 ® z N45 °00' 00''E).9 .00 1 ® = S45 °00 I 00"E 70.00' 18/73 'mACI'E Set 1/�" Iron Rod In cax:. , I , Dirt V a,... -· I ••• .-·- -, --.--I -, . .. ' · .. -· .. ,· -� - - - . _ 0.030 Acres Part 18.1'3 -�E--'- ®1. . - -Ccnc . : r ... -, ... . . .-. I .= I -� -I I. I • O:Jrlc. Sidewalk 18/73 TRACT D P.o.c. NorthQmlm' Of 11.4003 AcreTract 002-72-2285 71 \ :D- I 0 I (r � ')'--� 0 P.O.B • Found 1/2" l C \< -. .. Iran Rod J: . -< 'I BUYER Daniel G:tge and Darleen Gage ' r r DESCRIBED PROPERTY Being 0.030 acres of land, nm-e or less, and being a part of 11.4003acres of land out of Lots 15 and 16, Block 5, � SUBDIVISICN as recatdal in Volume 238, Page 14 and VolUJe 254, Page 37 of the Galveston County Deed .Records,in the 8arah McKissick ar J. R. Willianm league in Galveston Cl:Junty, Texas, 11.4003acres of land fran 'lbomas Mcntganery, Trustee, to Ralph L. Lo.we as .recorded in Film 002-72 -2285 in the Galveston County Deed Records dated D:,oembe,: 23, 1983, the 0.030,acres being more particularly described by metes and bounds as attahced. SURVEY 1 1 INC. P.O. BOX 2543 • ALVIN. 1X 77512 (281) 393-1382 • Fax (281) 393-138396676-W G.F. _______ _ Date: Inv.I: 4/9/03 REl/:5/22/03 :REV. 7/18/034297 I JOB# 3/3/03 ldot--,,adVl'dh....,Mllhda'/madaanlw�CIClw pcpertvllgat,dllcltledhncr\ (oront11,a;tacriedtf..e). Cl'ldilCOIMCl cn:l._.aeno•ooad••••�inown. Cl'ld'Mllm.�-o,� mv�Cl'ldcontarratoor-=-ctJthe�lficJr.c:bdl .... aa0P9d �theTar:allocld<.IAuf I ,w:Jla1d� HoM:�cnnon=,uoeinag9ccuaanhP10P111Y. . .; HoM:'lw�dolanat .. riotocdhClladawc:a:xx,dig1')K.UJ>AJ.A '} 485468 0005 E 9-22-99 Zale X _t',#'� § FIELD NOTES Of A Survey Of Being 0.030 acres of land, more or less, and being a part of 11.4003 acres of land out of Lots 15 and 16, Block 5, FRIENDSWOOD SUBDIVISION as recorded in Volume 238, Page 14 and Volume 254, Page 37 of the Galveston County Deed Records, in the Sarah McK.issick or J. R. Williams League in Galveston County, Texas, 11.4003 acres of land from Thomas Montgomery, Trustee, to Ralph L. Lowe_as recorded in Film Code 002-72-2285 in the Galveston County Deed Records dated December 23, 1983, the 0.028 acres being more particularly described by metes and bounds as follows: COMMENCING at the North comer of said 11.4003 acre tract as recorded in Film Code 002-72-2285;THENCE South 45 deg 00 min 00 sec East, a distance of 240.00 feet to a point; THENCE South 45 deg 00 min 00' sec West, a distance of 100.00 feet to a½ inch iron rod found for the POINT OF BEGINNING of the herein described tract of land; THENCE continuing South 45 deg 00 min 00 sec West, a distance of 19.00 feet to a ½ inch iron rod set for comer; THENCE North 45 deg 00 min 00 sec West, a distance of 70.00 feet to an "X" set in concrete for comer; THENCE North 45 deg 00 min 00 sec East, a distance of 19.00 feet to an "X" set in concrete for comer; THENCE South 45 deg 00 min 00 sec East, a distance of 70.00 feet to the POINT OF BEGINNING and containing 0.030 acres ofland, more or less. r �� :f<'�fgf� ,j°' 1{0 \ST £if�:::;,i�_ ,,. . � * �,,.. . /I••-:-v\ • ....... '� ............... � .\ .... _ .. .!tI· WEBER ·., • ..,0 ••••••••• � ♦•• � 41 01 ··-:.;-;-··// 0 ··.O� �"I.·: (,J .,/..,;; .. f s s \ q ... •;,.__ 1'J '"D •••••••• :4.0'�'il �JUR'-J<c; -�• •:,,.� .. . ·,: .. (,, //--7/4/� SUMMARY APPRAISAL OF THE PROPERTY LOCATED AT 904 S. FRIENDSWOOD RD. FRIENDSWOOD, TX., TEXAS 77565 as of APRIL 21 , 2003 for CITY OF FRIENDSWOOD 910 S. FRIENDSWOOD FRIENDSWOOD, TX. 77546 by The Wilkenfeld Company P.0. Box250 Texas City, TX 77592 ·FIio No. _9 7 44 May 12, 2003 CITY OF FRIENDSWOOD 910 S. FRIENDSWOOD FRIENDSWOOD, TX. 77546 Property - Borrower­ File No. - Case No. - Dear The Wilkenfeld Company P.0. Box 250Texas City, TX 77592 409-945-8336 904 S. FRIENDSWOOD RD. FRIENDSWOOD, TX., TEXAS 77565 SHEAR PLEASURE 9744 In accordance with your request, I have made a Complete Appraisal and prepared a Summary Appraisal Report of the real property located at 904 S. FRIENDSWOOD RD. , FRIE NDSWOOD, TX., TEXAS. The purpose of the Summary Appraisal is to estimate the market value of the property described in the body of this report. Enclosed, please find the Summary Appraisal which describes certain data gathered during our investigation of the property. The methods of approach and reasoning in the valuation of the various physical and economic factors of the subject property are contained in this report. An inspection of the property and a study of pertinent factors, including valuation trends and an analysis of neighborhood data, led the appraiser to the conclusion that the market value, as of APRIL 21 2003 is: $4,000 The opinion of value expressed in this report is contingent upon the Limiting Conditions attached to this report. It has been a pleasure to assist you. If I may be of further service to you in the future, please let me know. Respectfully submitted, The Wilkenfeld Company �--/� - TX Certification #TX-q21349-G Complete Appraisal Analysis -Summary Appraisal Report LA.ND APPRAISAL REPORT File No. 974A Borrower SHEAR PLEASURE Census Tract 7203 Map Reference CITY I z I Property Address 904 S. FRIENDSWOOD RD. � City FRIENDSWOOD TX. county GALVESTON State TEXAS Zip Code 77565 I < 0 ii: j::: z w e Legal Description SEE ATT. SURVEY Sale Price $ NIA Date of Sale NIA Loan Term NIA yrs. Property Rights Appraised [&'] Fee O Leasehold O De Minimis PUD Actual Real Estate Truces $ NIA {yr.) Loan charges to be paid by seller S NIA Other sales concessions .,___N"'/,_A,__ ____________ -J Lender1c1ient CITY OF FRIENDSWOOD Address 910 S. FRIENDSWOOD. FRIENDSWOOD. TX. 77546 Occupant VACANT Appraiser R.R. WILKENFELD Instructions to Appraiser MARKET VALUE I Location LJ Urban Built Up □ Over 75% Growth Rate □ Fully Dev. □ Rapid Property Values D Increasing Demand/Supply D Shortage 00 Suburban 00 25%to75% 00 Steady 00 Stable 00 In Balance 00 4-6 Mos. LJ Rural 0 Under25% Os1ow D Declining D Over Supply D Over6Mos. Good Avg. Fair Poor Mar1<eting Time D Under 3 Mos. g I Present Land Use 97 % 1 Family _1_% 2--4 Fam __ % Apts. __ % Condo __ 1_ % Commercial Employment Stability Convenience to Employment Convenience to Shopping Convenience to Schools Adequacy of Public Transportation Recreational Facilities Adequacy of Utilities 000 □0 00□□0 000 □□ 000 □0 000 □0 00□□□00□□□00□□0 00 □□□00 □□□00 □□□00 □□□ 0 :c a: 0 m :c CJ iii z % Industrial 1 % Vacant % Change in Present Land Use � Likely --------==--------0 Likely<·) D Taking Place c·> Predominant Occupancy Single Family Price Range Single Family Age {•) From ----��---To ________ _ 00 Owner O Tenant % vacant $ 75.000 to S 250.000 Predominant Value $ 150.000 NEW yrs. to 30 yrs. Predominant Age 15 yrs. Property Compatibility Protection from Detrimental Conditions Police and Fire Protection General Appearance of Properties Appeal to Market Comments including those factors. favorable or unfavorable. affecting mar1<etability {e.g. public par1<s. schools. noise) S U BJ EC T I S LOCATED I N C LO S E PROXI MITY_T_O_CH_U RCHES. SCHOOLS. SHOPPING CE�_J_E RS AND_E_M_PLO YM ENT AREAS. Dimensions 70 X 18 = 1.260 S.F. Zoning Classification COMMERCIAL Highest and best use: (XJ Present use D Other {specify) Present improvements Public Other {Describe) OFF SITE IMPROVEMENTS Topo LEVEL Elec. 00 ________ Street Access: 00 Public □Private Size AVERAGE TI Comer Lot 00 do O do not conform to zoning regulations Gas D ______ SurfaceASPHAL T Shape RECTANG ULAR � , Water O ________ Maintenanc-;--�J Public OPlivate View AVERAQI; rn San. SewerD ________ 00 Storm Sewer [KJ Curb/Gutter Drainage ADEQUATE !!? < z < � < 0 � a: < :::!:: D Underground Elect. & Tel. 0 Sidewalk [i] Street Lights Is the propert;-;;��ed. in a HUD Identified Special Flood Hazard Area? L� No LJ Yes Comments {favorable or unfavorable including any apparent adverse easements. encroachments or other adverse conditions) TH E S U BJ EC T I S LO CAT E D I NIZONE X ON FEMA MAP_#�_85468000DE DATED 9122199. The undersigned has recited three recent sales of properties most similar and proximate to subject and has considered these in the mar1<et analysis. The description includes a dollar adjustment. reflecting market reaction to those items of significant variation between the subject and comparable properties. If a significant item in the comparable property is superior 10. or more favorable than. the subject property. a minus{·) adjustment is made, thus reducing the indicated value of subject; if a significant item in the comparable is inferior to. or less favorable than. the subject property. a plus {+) adjustment is made. thus increasing the indicated value of the subject. ____!!sM Address Proximity to Subj. Sales Price Price Data Source Date of Sale and Time Adjustment Location SiteMew Sije Area Sales or Financing Concessions Net Adj. {Total) Indicated Value of Subject Subiect Pronortv COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3 :904 S. FRIENDSWO IFRJENDSWOOD IS. FRIENDSWOOD FRIENDSWOOD. TX. F.M. 528 FRIENDSWOOD. TX. FRIENDSWOOD T FRIENDSWOOD ------ $ NIA s 29.618.90 DESCRIPTION NIA FRIENOSWO_QD �VERAGE j�2_6_0_S.F. IG__CAD DESCRIPTION l41j;19_9_ ls 132.000 1 s 3.49 IHUD-1 ,, ' 1$ 425.000 · Is 3_90 1$ 268,500 �-4.00 IGRANTOR '---II ,, ..... _.. A�u's�eoJI DESCRIPTION : MiJ��eoL 16101 · •<·ls II DESCRIPTION ;_Adjustm.ea· 7/1/02 FRIENDSWOOD FRIENDSWOOD IF"RIENDSWOOD iAVEMGE lAVERAGE AVERAGE 137.830 S.F . : -128 000 108 900 S.F. -420.000ll67.089 S.F. : -263.000 . CASH : llcAsH CASH [ I Plus [_X] Minus S -128.000 II lJP1uslxJ Minus S -420.000 111 JP1usl XI Minus$ -263.000 Gross 97.0% II Gross 98.8% II Gross 98.0% Not -97',Q%!.�L0_00 Net -98.8%S 5.0_00 Net -98.0% $ 5,500 Comments on Mar1<et Data: ALL COMPARABLES ARE CONSIDERED REPRESENTATIVE OF THE PRICES BEING PAID IN THE AREA. eomments andconditions of Appraisal: THE SALES INDICATE AN APPROPRIATE PRICE FOR THE SUBJECT PROPERTY UNDER � �PPRAISAL. j::: I � I � Final Reconciliation: THE FINAL VALUE WAS SUPPORTED BY ALL THREE COMPARABLE SALES. 0 I g I a: , ESTIMATE THE MARKET VALUE. AS DEFINED. OF SUBJECT PROPERTY AS OF APR IL 21 . 2003 .::> to be S4,000 0 Did Not Physically Inspect Property Appraiser(s) � ·Review Appraiser {if applicable) 0 Did Signature -------.=-'E'-"---'-'"'--._"--=--"oc---------Signature . -------------------------! Name R.R.Wilkenfeld-----..1...._ _ ___,f1.te April 29. 2003 Name Date State TX nucense Wcertification # TX-1321349-G State Oucense ncertification # The Wilkenfeld Company j ! I r-·- 1 Set 11x0 In Cone. 008-63-2707 Set 11 X" I i I ! i I I I ru'i-1 \[;I -· I ! ra' =i ,?./ !! ·P,::\..,::, i ·- ! CW=I I®= (0= $45"00 1 00 11£ 240.00 1 S45 °00'00"W 100.00' s4s 0 00·00 11w 18.00' N45"00'00"W 70.00' N45''00' OO"E '18.00' S45"00'00"E 70.00' 18/73 'f'RAC'.r r� -. · ..........._.,_ •f Ditch � •. ,_. • .• • • J '·j I . 'b.1 ,t·· -- --, �-J . -····· L..j. : . . ·-. --1----- Cone. I In Cone...,_ ', :.,, '-• .... � '·. . � , ..... ._ •.•. �---�\ '-,.,,J Dirt r . / /·, .. ,. 1I Cone. Sidewall-: , • ✓7,....., l· . .. � r.l · /)I,·. i._ ,. i. /;.-.,, /' I I L.. .. •I--·. ·-· . __, set 112 °= Iron �od \ \ ·II!• -fIIf! @.d ifII l I .l l I -r 1 !i! I f 0.028 Acres Part 18/73 'I'RACl' E ··e.onc I I I l I I f I l .I j .:::,_1--ff'J?-:..., • iI I·1I I I I .. ! .. I., 18/73 TRA.C"l' D P.O.C'. North Corner Of 1·1.4003 Acre ·rract002-72-2285 i?.O.B. Found 1/2" Iron Red � '-.,' I l(K)°';• '.! ··I"'----·-· -----·--··-·-·· ...... l i cL �.,·'1'_. __ _ C' ® .... ---:· .. ·- i.__ ,�:: INOI'E: i This Sm:vey Completed Without 1.1'1e &mef.it Of Information Contained In A 'I'itle Re£:Qrt Per ·rhe Request Of '!'he Buyer. ?suvE,? -· ---· ---Shear Pleasure ' !. ___________________________________________________ ( ( DESCRIBED PROPERTY Being o. 028 acres of land, more or less, and being a part of 11. 400 3 i 1acres of land out ,:,f L::>ts· 15 and 16, Block 5, PRI�KXID SUBDIVISia-1 as recorded .in !'v'clume 2 36, Pag1:, 14 and Volu.llle 254, · Page 37 of tt� Galveston Cbunty Deed Records, iin the Sarah Mcr<is::ii.ck or J. R. Williams League .in Galw,..ston County, Texas, 11.4003 jacres of land from '!'homas Montgomery, Trustee, to Ralph L. Lowe as recorded in. f'ilm 1002-72-2265 in the Galveston County Deed Records dated J:lecernmr 23, 1983, the 0.028 !acres f:.eing more prrticularly described by metes and rounds as attahced. SURVEY 1 § IN1C. P.0 BOX2545 • ALVIN, TX 775!7(28 l) 393-1382 • Fox (W ! ) 393-1383 G.F ----------··~ ���• \.'•· i (,-··> "',· ····:·:.·.:•f:,,.,. h ."1• it'._\.* ·�:i..1/ ·•·-., .... , . ':-:,-.. ·:.' ' <·'o··:· n .. �., ""' �y •• �, I <JO ha,uo., centtv fflal IT� wn,e;y "-.:1$ ftv.l <=. rno.l2 on II>,; g,c,ul".:> :.>( r...i :;l(!)l:>t"lr.-,' l6Q.::;;i'"f �n&lecn. (<X on rtiu OtlOC™9(1 �I), ond1't:O<<<rt.:I Ol'I<$ ll'>GIOCl&l'\Oeo<:f��"'°"Jt'-OildWO!IOCln(t�:r-:!,:.;I .S>:X.'I mv :;ui�o:;n OOC.J ci::,nf-0:mi to c:eia::oaw h.l curoo! �Cl:I rzo:lef.,tO<;l:JY tho T•= e..."'O'd at Prct�Ol'l':.ii Lor:() SlJNayfnQ . c-;o:e, 11W1 .J c;o noncr.vrci ,':llo'r'.:;ot)co.;r<.,a:.cn t��o:x,-r.,, Dare· 4/9/03 ........ ___ ,· / -:� ......... : ....... ,Ir · ........ t;·;.":,.i::SE::1 1 t-. '\:. . .. '' �'-;, ..... _._ ..... � '" .. •�:_:;·•"•·::·; -� J ,-/ fl ,_'l '\4•,.. , ...... �.,• _,1/ Neto: lr�p�ry does no: ie r. a lloo:J ll.:.2o::ncrl6 oce<:v.;11!'1() :,;:, r1 l! !..' :;: 1 A 485468 0005 E 9-22-99 Zone X 4297 liW #: •·----�---:::::-_-::. i j JOB# 3/3/03 \ . .__, ____ . � .. -·· ...... ·--......... __ _ V · •.•. ·-",.,c, .. � fl ,.1 < . "• ... r ..... :.:·.":to �:'.. \'· 'i,:.. ;•�'--~tj.;.;;/ _),,. . ·'/ / . -·.:;:., •"n�c..-• ✓ ., ✓ r� ..... �, ... --...:,;(;P .... r /::,.-"'./ --<-···----···-. , .. ,·-···· , ... I i---; �--••-r ! : .., __ ···-· FIELD NOTES Of A Survey Of Being 0.028 acres ofland, more or less, and being a part of 11.4003 acres ofland out of Lots 15 and 16, Block 5, FR1ENDSWOOD SUBDIVISION as recorded in Volume 238, Page 14 and Y.:>lume 254, Page 37 of the Galveston County Deed Records, in the Sarah McKissick or J. R Williams League in Galveston County, Texas, 11.4003 acres of land from Thomas Montgomery, Trustee, to Ralph L. Lowe as recorded in Film Code 002-72-2285 in the Galveston County Dt:ed Records dated December 23, 1983, the 0.028 acres being more particularly described by metes and bounds as follows: COMMENCI KG at the North comer of said 11.4003 acre tract as recorded in Film Code 002-72-2285;THENCE South 45 deg 00 min 00 sec East, a distance of240.00 feet to a point; THENCE Sou1h 45 deg 00 min 00 sec West, a distance of 100.00 feet to a½ inch iron rod found for be POINT OF BEGINNING of the herein described tract ofland; THENCE continuing South 45 deg 00 min 00 sec West, a distance of 18.00 feet to a ½ inch iron rod sd for comer; THENCE North 45 deg 00 min 00 sec West, a distance of 70.00 feet to an "X" set in concrete for cc mer; THENCE North 45 deg 00 min 00 sec East, a distance of 18.00 feet to an "X" set in concrete for cc,rner; THENCE South 45 deg 00 min 00 sec East, a distance of 70.00 feet to the POINT OF BEGINNING and containing 0.028 acres of land, more or less. -"R ---f;'·c,r-Tf:-/,t, ��-,l:;:�: , .••• �.,.!� I . .-...._. -..i._-r-a ·. . .,;.�-·:·�,-','., [c R;,�•:::."" 1· \. :.-...... :� ......... t .. . . 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' ... �-•'N . \· . :,;.f/j -.:/,,·. \. , •. ),,.._ -�"'' 0. .. , ···. I,,. .,_,. \ , .. /I .-1,:-· ,... \ �i'<r _ .. ,..�. •.:--.·· .. �� /: .·.. /,· •/'-.•. __ r]. • I : \ ,. '·. ,_,._��"· ',\ -'�,;,. ...... ,'//.-.I .\ / .: /,· ··'\ ,V \' � • • , • • JI \, �..; I --, I ., • I -' :.;,.�: , 1i:· ·. ·,._,.,-.A.� ' ' � · : l r '-·.• / ,._ \ : :, I #& · · ·�.: .-'; r:JI,. .. :· .,._"'. ,·V · •. ·. ;' .,� ..... ,., I 1 '· ·0 -· / � ' / -· •• : -' ,',' •· /1•· ' .. •{;J ···--.. //·. ,,', , . .-.,· '1 I \_\, . ,. ,'/._\·, ____ .,.•/ \.Ir!! , � . . ..... . . .. ·,.,_ __ .... / ..,_ . °',, j , 1. •••,.. ·. ....... -..,.-·,.,. •. ,u"" © 2002 ,M'i2rosoft' Cork,All riqhts reseNed[ , 1.1t \< .,,_. '.' '1 ,I ! f The Wilkenfeld Company _;,. . , ... :. .. ...... :·.� FLOOD MAP BorrowerorOwner SHEAR PLEASURE Property Address 904 S. FRIENDSWOOD RD. cI1y FRIENDS_WJ)OD�TX.county_ GALVESTON LenderorCllent r.1TY OF FRIENDSWOOD in!9rfle9d �-ra-.rs. Po..ottldt,,f FUJODSOURCE ---www.llterllllLCIIJI • 800-25f-BB33 '·"· ....... _eqs, --:�::- -..../'<E"◄� CT ,. f 700' s,.. I L. '"'O"t '· c-:t<'r,._ ·ru "".... _°''• I).., 0 State TEXAS Prepared for: THE WILKENFELD CO. ro4 s friendswood Friendswood, TI( 77546-4856 �.,.,,..,. ,., 01999-2002 FloodSoolce Corp. Al rl!t>ls reserved. For more lnfonMlion, p1eose &-mall lnfo@flood$oc.rce .com. The Wilkenfeld Company File No. Q744 . _., Zip Code 77565 File No. Q]# eorroweror0wner SHEAR PLEASURE Property Address 904 S. FRIENDSWOOD RD. City FRIENDSWOOD, TX. county GALVESTON State TEXA.S. ZipCode 77565 LenderorClient CITY OF FRIEtllD�SW OOQ TEXAS APPRAISER LICENSING AND CERTIFICATION BOARD BE IT KNOWN TIIAT RICHARD ROBERT WILKENFELD HAVING PROVIDED SATISFACTORY EVIDENCE OF Tl!£ QUALIFICATIONS REQUIRED Bl" THE TEXAS APPRAISER LICENSING AND CERTIFICAT/O,V ACT, ARTICLE 657Ja.2, VERNON'S TEXAS CIVIL STATUTES, IS AUTHORIZED TO USE THE Tm£ STATE-CERTIFIED GENERAL REAL ESTATE APPRAISER Number: TX-1321349-G Date of Issue: June 6, 2001 Date of Expiration: June JO, 2003 11 Witness Fhm·(�( James M. Syna1zske, Chair Denjamin E. Barnell Debra S. Runyan L. W. (Wayne) Mayo. Vic�•ChJir Patrick II. Cordero, Jr. William t\. Faulk. Jr. The Wilkenfeld Company Eiro,· Car�on. Sc.:irnry Douflas OIJr.1i\on DonJ S. Scurr,- ?"',..&.��' 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, knO\Nledgeably 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 infonned or well advised, and each acting in what he considers his 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 normal consideration for the property by anyone associated with the sale. of financial arrangements comparable thereto; and sold unaffected by special or creative financing (5) the price represents the or sales concessions• granted "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· in\/Olved In the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concessions but the dollar amount of any adjustment should approximate the markers reaction to the financing or concessions based on the appraiser's judgment. The appraiser's certification that appears in the appraisal report is subject to the following 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. The appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis of it being under responsible ownership. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. 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 the appraisal report whether 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. 5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and the Improvements at their contributory value. The separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid if they are so used. 6. The appraiser has noted In the appraisal report any adverse conditions (such as, needed repairs, depreciation, 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 normal research in\/Olved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions (including the presence of hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied, regarding the condition of the property. 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, the appraisal report must not be considered as an environmental assessment of the property. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by other parties. 8. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice. 9. The appraiser has based his or her appraisal satisfactory completion, repairs, or alterations on performed in a workmanlike manner. report and valuation conclusion for an appraisal that is subject to the assumption that completion of . the improvements will be 10. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can distribute the appraisal report (including conclusions about the property value, the appraiser's identity and professional designations, and references to any professional appraisal organizations or the firm with which the appraiser is associated) to anyone other than the borrower: the mortgagee or Its insurer: consultants: professional appraisal organizations; any state or federally department, agency, or instrumentality of the United States or any state or the lender/client may distribute the property description section of the report service(s) without having to obtain the appraiser's prior written consent. assigns; the mortgage approved the District financial institution; or any that of only to data The Columbia; collection except or reporting . approval must also be obtained before the appraisal can be conveyed by anyone appraiser's written consent and to the public through advertising, public relations, news, sales, or other media. Freddie Mac Form 439 6-93 Page 1 of2 Fannie Form 10048 6-93 File No, The Appraiser certifies and agrees that: 1. I have researched the subject market area and have selected a minimum of three recent sales of properties most similar and proximate to the subject property for consideration in the sales comparison analysis and haw made a dollar adjustment when appropriate to reflect the market reaction to those items of significant variation. If a significant item in a comparable property is superior to, or more fa110rable 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 inferior to, or less fa110rable than the subject property, I haw made a positiw adjustment to increase the adjusted sales price of the comparable. 2. I haw 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 knowledge, that all statements and information in the appraisal report are true and correct. 3. I 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. I haw no present or prospectiw interest in the property that is the subject to this report, and I have no present or prospectiw 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. I 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. I was not required to report a predetermined value or direction in value that fa\/Ors 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 valuation, or the need to approve a specific mortgage loan. 7. I 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 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 haw otherwise stated in the reconciliation section. 8. I 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 In 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. I 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. 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. If 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. 77565 (only if required): Signature: Signature: Name: R.R.\/Yilkenf�IJ1 1 ) Name: Date Signed: Apnl 25,_2003"'-------------­State Certification#: or State License #: Date Signed: State Certification #: or State License#: State: _,TC!X.,__ ___________________ _ State: _____________________ _ Expiration Date of Certification or License: Freddie Mac Form 439 6-93 6/30/03 Expiration Date of Certification or License: Did Did Not Inspect Property Page 2 of2 Fannie Mae Form 1004B 6-93 The Wilkenfeld Company ... �1 ... ;I�i��§r: ,·,\)f:: : ! "\'•:·, ·--:r�-}/' ;:·�'· -:. • !, I· •• ...... SUMMARY APPRAISAL OF THE PROPERTY LOCATED AT 904 S. FRIENDSWOOD RD. FRIENDSWOOD, TX., TEXAS 77565 asof APRIL 21 , 2003 for CITY OF FRIENDSWOOD 910 S. FRIENDSWOOD FRIENDSWOOD, TX. 77546 by The Wilkenfeld Company P.0. Box250 Texas City, TX 77592 FIio No. 9744 ;� May 12, 2003 CITY OF FRIENDSWOOD 910 S. FRIENDSWOOD FRIENDSWOOD, TX. 77546 Property- Borrower­ File No. - Case No. - Dear The Wilkenfeld Company P.0. Box 250Texas City, TX 77592 409-945-8336 904 S. FRIENDSWOOD RD. FRIENDSWOOD, TX., TEXAS 77565 SHEAR PLEASURE 9744 In accordance with your request, I have made a Complete Appraisal and prepared a Summary Appraisal Report of the real property located at 904 S. FRIENDSWOOD RD. , FRIENDSWOOD, TX., TEXAS. The purpose of the Summary Appraisal is to estimate the market value of the property described in the body of this report. Enclosed, please find the Summary Appraisal which describes certain data gathered during our investigation of the property. The methods of approach and reasoning in the valuation of the various physical and economic factors of the subject property are contained in this report. An inspection of the property and a study of pertinent factors, including valuation trends and an analysis of neighborhood data, led the appraiser to the conclusion that the market value, as of APRIL 21 2003 is: $4,000 The opinion of value expressed in this report is contingent upon the Limiting Conditions attached to this report. It has been a pleasure to assist you. If I may be of further service to you in the future, please let me know. Respectfully submitted, The Wilkenfeld Company ......... ••mo,�-.-)::::> _____ _ TX Certification #TX-1�21349-G Complete Appraisal Analysis -Summary Appraisal Report LAND APPRAISAL REPORT File No. 9744 Borrower �HEAR PLEASURE Census Tract I.203 ___ Map Reference ..,,.C<.!..ITY.!....!...-----Z I Property Address 904 S. FRIENDSWOOD RD. � City FRIENDSWOOD TX. County GALVESTON State TEXAS Zip Code 77565 c( 0 ii: i= z w Q Legal Description SEE ATT. SUR,..,V_._.,..E'--'Y'-------------------------=�-��---��------t Sale Price $ -N/A Date of Sale NIA Loan Term NIA yrs. Property Rights Appraised [RJ Fee Leasehold O De Minimis PUD Actual Real Estate Taxes $ NIA (yr.) Loan charges to be paid by seller S NIA Other sales concessions NIA I Lender/Client �ITY OF FRIENDSWQOD Address 910 S. FRIENDSWOOD . FRIENDSWOOD. TX. 77546 Occupant VACANT Appraiser R.R. WILKEN FELD Instructions lo Appraiser MARKET VALUE I Location Built Up Growth Rate Property Values Demand/Supply Marketing Time 0 Urban D Over75% □ Fully Dev. □ Rapid D Increasing D Shortage D Under 3 Mos. [kJ Suburban 00 25%to75% 00 Steady [Kl Stable 00 In Balance 00 4-6 Mos. LJ Rural D Under25% Os,ow D Declining D Over Supply D Over6Mos. Good Avg. Fair Poor g Present Land Use � % 1 Family _1_% 2-4 Fam � __ % Industrial __ 1_% Vacant 0:: Change in Present Land Use 00 Not Likely 0 __ % Apts. __ % Condo __ 1_ % Commercial % � -L-ik-e-ly-(-.}-----□-Taking Place(·) Employment Stability Convenience to Employment Convenience to Shopping Convenience to Schools Adequacy of Public Transportation Recreational Facilities Adequacy of Utilities Property Compatibility 00 □□□ 00 □□□ 00 □□□ 00 □□□ 00 □□□ 00 □□□ 00 □□□ 00 □□□00 □□□00 □□□00 □□□ 00 □□□ m (•) From -----..,...=,-----To __________ _ � Predominant Occupancy 00 Owner O Tenant Protection from Detrimental Conditions Police and Fire Protection %Vacant � Single Family Price Range $ 75,000 to S 250,000 Predominant Value S 150.000 General Appearance of Properties Appeal to Market Single Family Age NEW yrs. to 30 yrs. Predominant Age 15 yrs. I Comments including those factors. favorable or unfavorable, affecting marketability (e.g. public parks , schools, noise) SUBJECT IS LOCATED IN _ _C_L OSE PROXIMITY TO CHURCHES. SCJ-tO_QLS. SHOPPlr-J_G_ CENTERS AND EM PLOYME NT AR_E_A S. Dimensions 70 X 18 = 1.2Q..0 S.F. Zoning Classification COMMERCIAL Present improvements LJ Comer Lot 00 do O do not conform to zoning regulations Highest and best use:�nt use O Other (specify) '=:....____::...:__:_:_-======::;-------------------------, OFF SITE IMPROVEMENTS Topo .,,L,..E,,_V,,_.,E,..L,_ ______________________ --l Public IX] Other (Describe) Street Access: 00 Public □Private Size � VERAQ!=·------------------------1 Elec. Gas D � !water 0 rn San. Sewer □ SurfaceASPHAL T Shape _,_R,...E.,.,C-<-T'-'A..,,,N=G,_,,.U,.,,LA �R.,_ ______________ --l Maintenance: [XJ Public [=1Private View AVERAGE · IX]Storm Sewer D.<J Curb/Gutter Drainag;-ADEQ-l.JA--T-E-------------·-===---.--�-�� !! < z <I-c( I-w < D Underground Elect. & Tel. D Sidewalk r x ·1 Street Lights Is the propert; ,o-;,,,;e� i�-;,�UD Identified Special Flood Haza;.;;-;rea? U:<J No LJ Yes Comments (favorable or unfavorable including any apparent adverse easements, encroachments or other adverse conditions) T H E S U BJ E CT I S LO CAT E D I N IZO NE X ON FEMA MAP #4 8 5..5_68000DE DATED 9/22199. Toe undersigned has recited three recent sales of properties most similar and proximate to subject and has considered these in the market anatysis. The description includes a dollar adjustment, reflecting market reaction to those items of significant variation between the subject and comparable properties. If a significant item in the comparable property is superior to, or more favorable than, the subject property, a minus(-) adjustment is made, thus reducing the indicated value of subject; if a significant item in the comparable is inferior to, or Jess favorable than, the subject property. a plus (+} adjustment is made, thus increasing the indicated value of the subject. ITEM Address Proximity to Subj. Subject Property COMPARABLE NO. 1 1904 S. FRIENDS.WOOO IR{JENDSWOOD FRIENDSWOOD. nd]FRIENDSWOOD COMPARABLE NO. 2 S. FRIENDSWOOD FRIENDSWOOD. TX. COMPARABLE NO. 3 F.M. 528 E81ENDSWOOD. TX. Sales Price s NIA Is 132 ooo Is 425 ooo Is 268 500 Price $ 29.618.90 Is 3.49 Is 3.90 _Js 4.00 Data Source HUD-1 GRANTOR IGCAD DESCRIPTION DESCRIPTION : Adiu<;�eo• DESCRIPTION + (·)$ DESCRIPTION ' +(•) $ · AdjustmeoL Date of Sale and AdjustmeoL lime Adjustment NIA 416199 711102 : 6101 : Location FRIEI\IDSW_O_QQ FRIENDSWOOD : FRIENDSWOOD FRIENDSWOOD : SiteNiew Site Area Sales or Financing Concessions AVERAGE 1.260 S.F. AVERAGE 37 830 S.F. ICASH : AVERAGE : -128 000 108 900 S.F. i IICASH : AVERAGE : : -420 000 67 089 S.F. : -263,000 : IICASH i ' : Net Adj. (Total) I I Plus l X l Minus s -128 000 I [P1usr XI Minus s -420 000 I lPlusl X 1 Minus s -263 000 Indicated Value Gross.97 .0% I Gr_o_ s_ s 98.8% _ Gross 98 .0% of Subject NeL-9_7.0% s 4.000 NeG.9_8_._8..%..!_5�000 Net -08.0% s 5,500 . -comments on Marketoata: ALL COMPARABLES ARE CONSIDERED REPRESENTATIVE OF THE PRICES BEING PAID IN THE IA.REA. Comments and Conditions of Appraisal: THE SALES INDICATE AN APPROPRIATE PRICE FOR THE SUBJECT PROPERTY UNDER � lA.PPRAISAL. i= I � I � Fina1 Reconciliation: THE FINAL VALUE WAS SUPPORTED BY ALL THREE COMPARABLE SALES. 0 I g I 1 ESTIMATE THE MARKET VALUE. AS DEFINED, OF SUBJECT PROPERTY AS OF APRIL 21 . 2003 to be S4,000 0 Did Not Physically Inspect Property Appraiser(s) �� Review Appraiser (if applicable} 0 Did Signature RR\Aml���f=�t=�'.'.:'.'.:::jt::'.'.'.:=::'.�;:--;�ril?<:;-?rify Signature -----------------------------I Name R.R.Wilkenfel1., �te �ril 2.it, 200_3 Name Date State TX n License 00 Certification # TX-1321349-G State n License n Certification # The Wilkenfeld Company 'I ,,.---.set "x 0II I j I In Cone. l '"'l ::: ..::,1r-coo I 0011•/:' l � �.::J ··• I 240.00'!i.W c s4s000' oo"w �--©= (o;::: = ®= (E) = 100.00' S45 °00':J0 11W 18.00' N45 °00;00"W 70.00'N45"00'00"B'18.00' S45"00'00"E 70.00' 008-63-2707 __ ... ,,· ..., ..... Ditch . ···•� .. •·• .. ....... , ... ··,+�.·,........ ---, �.,t· Sat "X" Ir'l Cone..... ' ,' "\. 1 / df· '· ·l, / Cone. / Sidewalk /' ; / : i i __ .. ·--�r. -------1< "' ......... �-·-�, /· "•·, I D�·•t 't _,,. I , ·-..., ·'/ t,,:, v' r.":' r.L () J ''• i C.onc. ·!. I ·/-I I I �-••"· 0.028 Acres Part 18/73TRACl' E / l • ' -•J--· --. ..... , _ _,.J . i I I 18/73 TRl!.Cl' 0 P.O.C. North Corner ·•' _,. 18/73 ·rnr.1e.r r� !r! @ ... ; I l j ,:::--, 1-�,E.1 • l Of 1 ·1 .4003 Acre·rract 002-72-228:'i Set 1/2 1 : Iron �ad ,.\ I --e.onc I!I . i l I I -�I ,! -r ; !.! !i i i l i -j .. l?,0,5. Found 1/2" Iron Red i l i ........ l 1 ·c, ·--- -"""-_,_ .. -•'I'-·--·- (C; � t c--.. .... ' •-..... ,:--·� ;(K) ,. (" iN01'E: This Survey Completed Without 111e Benefit Of Information Contained In A TitleRer,:ort Per. ·rhe Request Of 'I•h� Buyer. ··>--------------------------------:----------------·---( BUYEF? Shear Pleasurel--------�-----------------------------------�:"_ ( DESCRIBED PROPERTY Baing 0.028 acres of land, more or lass, and being a part c,f 11. 4003 j / acres of land out ,:,f lots· 1 5 and 16, Block 5, FRI.ENIBWOOD SUBDIVISI CN as recorded in !Volume 238, Pag,a 14 and Volu.fl'.e 254, Page 37 of the Galveston O::>unty Deed Records,jin th� Sarah McKis:;i .ck or J. R. Williams league in Galveston County, Texas, 11.4003 jacres of land from Thomas Montgomery, Trustee, to Ralph L. Lowe as recorded in i?ilm ,002-72-2265 in the Galveston County �d Records dated �r 23, '1983, the 0.028 !acres teing more prrticularly described by metes and round s as a.ttahced. SURV�Y� 1, IN(�. 1 4;.::� P. O BOX .._54., • �LV!N. TX 77�.2 �·,�-<�-'•.':·• ·;','.':•&t,<:1� ("811 393. J .'382 • f-'c.1x (WI) 39,> 13.83 <• ·-;.• ·.," ' '-n ;;.• • � ·,\ : . ; /·��,. �:.< ·o· -:� 1t \::.>.F ------·----"-------,, .............. :.":;:i:.···•·•······--�\". ii. L �, ... SE:=! r t1 'Ct/03 '\)\""':••···--··:··:•······-·.·····� (·)·r .. /,, • ...;, ·1•1 .... . a e· ·-----·---·---:, •. " •· v , .• ,: ,, •. •" ,� .. · )/ 4297 \; .:·:: •. :·-�s•,::;.-;..,,�, fl Inv.#· __ \' · ·-'i.1 .. •······,.,lv ';;J _ ·----......, .·,:: �. . u .�s � l<.10t1e100: cellftytt')QI 1tl.'s�-.ay '-"0$ ltll:IC10¥ �orill'lli\Jl<:s.ll-.;):_�r,-,., .,-fl:;pot:Y,lag.::.lf �n&leoo. (CK on rtl<.iOll<X,M(l�t), Ol'ldtl.C0t<"1<,I a>dlhero�er.oenci��.nownaldwo.oon£11::-t:r,.!•;.IU:>'J;.'I f'lV!:l.1XIIVOO.'\OOl'JCOOfo.'Tl'"SIOCll9),,":oal:t/fflt.!CUIOOl�Ul�OX,Pr-J<, t:,yiho fo .. -aS.."'OIC!of Pl'ct�Y.Jilcr:.ctStJNe\11.'IQ. t,;o:a, ll)oroa;onoria:uroioio'l'.:;ouc�...,.¢1'1tl'<SS::0Pulit Nero: lt-�r:t;:ip!J!fyOOOSOC'lf>or.oll::.o:Jh.:2CJO�ocet:t(2!,'I) 1,::•M t., (;•.-;:,A 485468 0005 E 9-22-99 3one X ,�----.,., ! ': r------· L,_ .... , ! ____ ..... ! I ( jOB# 3/3/03 / ··�-... � /i.,-· ;r /✓ ,._,?-· \ • ---------·---···-------�-c ., . V ,...,C -------�· '-·---···-·····-·----·-·· __ .., ____ ,., ___ -· FIELD NOTES Of A Survey Of Being 0.028 acres of land, more or less, and being a part of 11.4003 acres of land out of Lots 15 and 16, Block 5, FRJENDSWOOD SUBDIVISION as recorded in Volwne 238, Page 14 and V.:>lume 254, Page 37 of the Galveston County Deed Records, in the Sarah McKissick or J. R Williams League in Galveston County, Texas, 11.4003 acres of land from Thomas Montgomery, Trustee, to Ralph L. Lowe as recorded in Film Code 002-72- 2285 in the Galveston County Deed Records dated December 23, 1983, the 0.028 acres being more particularly described by metes and bounds as follows: COMMENCI KG at the North corner of said 11.4003 acre tract as recorded in Film Code 002-72-2285; THENCE South 45 deg 00 min 00 sec East, a distance of240.00 feet to a point; THENCE Soui:h 45 deg 00 min 00 sec West, a distance of 100.00 feet to a ½ inch iron rod found for be POINT OF BEGINNING of the herein described tract ofland; THENCE contin uing South 45 deg 00 min 00 sec West, a distance of 18.00 feet to a ½ inch iron rod sd for corner; THENCE North 45 deg 00 min 00 sec West, a distance of 70.00 feet to an "X" set in concrete for cc mer; THENCE North 45 deg 00 min 00 sec East, a distance of 18.00 feet to an "X" set in concrete for cc mer; THENCE South 45 deg 00 min 00 sec East, a distance of 70.00 feet to the POINT OF BEGINNING and containing 0.028 acres of land, more or less. /fL.7U/.c£- ·, PHOTOGRAPH ADDENDUM eorroweror0wner SHEAR PLEASURE PropertyAddress 90 4 S. FRIENQS_W_O_QD RD. City FRIENDSWOOD, TX. county GALVESTON State TEXAS LenderorClien t CITY OF FRIENDSWOOD The Wilkenfeld Company File No. 744 Zip Code 77565 904 S. FRIENDSWOOD RD. VIEW OF SITE 904 S. FRIENDSWOOD RD. VIEW OF SITE 2 File No. 744 . . LOCATION MAP BorrowerorOwner _S_HEAR PLEASURE Property Address _9_0A___S_._E8lEJ,,IDSWOQD RD. City FRIENDSWOOD TX. County GALVESTON State TEXAS Zip Code 77565 LenderorCllent CITY OF FRIENDSWQ_O_Q .. ·.. . . E ,i .--• • •• ·, ' ' • . ' l - . . I .... " •• . ·, � \ .. ' • I • .. • , " .,·. ·· -. .._ _,. -·., ] I .. · o·..,.· ' .. , . ... ·-_ , ,:' ' . : ·• .. ' � ·' .' � \ ' .:\/'...-' \ . ;•/ • .. ·/!/:? .__<, . .\ 1 f ,_': _ .. /· ·,t)� // ,,:.:, '-&. ' ·' '· t ·, ,· /\ l l ··· • ' • I\.� ' • •, .. ' ; ;' . . ' . •••••• ' I I. ·. � '';}1'.'V / .' '. : .:.\-. . _. ,.:-·H , •i ..,_ , , �-· ... .. ... .. . , I� !· ..... ¼�·· · Sub· t -: , °' "'". ,... • . . �·-.i , ·. JeC ,·: "·, 1\}' ,.. / .. ◊,.•·•� ¼-\, _,,,,../,. 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(. ,.,'..··.,\FLOOD MAP BorrowerorOwner PropertyAddress city county tenderorcuent ,;Ut1o.;;a ,. »..Jl!Uii:..,i lly_l_lalllla,_lnc. __ •:;;:., ·,·.-t<E'◄0-.. 700' State Prepared for: lHE WILKENFELD CO. ro4 s friendswood Friendswood, lX 77546-4856 .l-s�...,f.,_. 01999-2002 FloodSOU'ee Corp. All r1ittS tesetVed. more lnformelion, pleese e-111111 lnfo@floodsou'ee.com. File No. Code File No. 744 BorrowerorOwn er SHEAR PLEASURE Property Address 904_S,£81ENDSWOOQ RD. city FRIENDSWOOQ. TX. county GALVESTON State TEXAS ZipCode 77565 TEXAS APPRAISER LICENSING AND CERTIFICATION BOARD BE IT KNOWN Tl !AT RICHARD ROBERT WILKENFELD 1/AVING PROVIDED SATISFACTORY EVIDENCE OF TH£ QUALIFICATIONS REQUIRED Bl" THE TEXAS APPRAISER LICENSING AND CERTIFICATIOS ACT. ARTICLE 657Ja.2, VERNON'S TEXAS CIVIL STATUTES, IS AUTHORfZED TO US£ TH£ TfilE STATE CERTIFIED GENERAL REAL ESTATE APPRAISER Number: TX-1321349-G Date of Issue: June 6, 2001 n Witness 111cr,·tl James M. Synatzske. Chair Benjamin E. Barnett Debra S. Runyan L.W. (Wayn�) �!a 1·o. Vici:-ChJir Patrick IL Cordao, Jr. William A. Faulk. Jr. The Wilkenfeld Company E!roy Carson. s�d:•i:i;y Doufils 01Jr.1i\on Doru S. Scurry ?14,.��..,.'D. File No. . 97 44 DEFINITION OF MARK.ET 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 considers his 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 property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concessions 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 LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDmONS: The appraiser's certification that appears in the appraisal report is subject to the following 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. The appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis of it being under responsible ownership. 2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. 3.The appraiser has Agency (or other data examined the available flood sources) and has noted in maps that are provided by the the appraisal report whether the Federal Emergency Management 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. 5.The appraiser has estimated the value of the land in the cost approach at its highest and best use and the improvements at their contributory value. The separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid if they are so used. 6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, 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 normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions (including the presence of hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied, regarding the condition of the property. 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, the appraisal report must not be considered as an environmental assessment of the property. 7. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by other parties. 8. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice. 9. 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 completion of the improvements will be performed in a workmanlike manner. 10. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can distribute the appraisal report (including conclusions about the property value, the appraiser's identity and professional designations, and references to any professional appraisal organizations or the firm with which · the appraiser Is associated) to anyone other than the borrower; the mortgagee or Its successors and assigns; the mortgage Insurer; consultants; professional appraisal organizations; any state or federally approved financial institution; or any department, agency, or instrumentality of the United States or any state or the District of Columbia; except that the lender/client may distribute the property description section of the report only to data collection or reporting service(s) without having to obtain the appraiser's prior written consent. The appraiser's written consent and approval must also be obtained before the appraisal can be conveyed by anyone to the public through ach1ertising, public relations, news, sales, or other media. Freddie Mac Form 439 6-93 Page 1 of2 Fannie Mae Form 10048 6-93 • File No. 9744 APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: 1. I have researched the subject marl<et area and have selected a minimum of three recent sales of properties 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 marl<et reaction to those items of significant variation. If a significant item in a comparable property is superior to, or more 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 inferior to, or less favorable than the subject property, I have made a positive adjustment to increase the adjusted sales price of the comparable. 2. I have taken into consideration the factors that hS\le an impact on value in my development of the estimate of marl<et value in the appraisal report. I ha'\19 not knowingly withheld any significant information from the appraisal report and I believe, to the best of my knowledge, that all statements and information in the appraisal report are true and correct. 3. I 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. I have no present or prospecti'\19 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 marl<et 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. I have no present or contemplated future interest in the subject property, and neither contingent on the appraised my current or future value of the property. employment nor my compensation for performing this appraisal is 6. I 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 valuation, or the need to appr0'\19 a specific mortgage loan. 7. I 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 marl<et is a condition in the definition of marl<et value and the estimate I developed is consistent with the marl<eting time noted in the neighborhood section of this report, unless I have otherwise stated in the reconciliation section. 8. I 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 in the subject impr0'119ments. 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 ad'119rse conditions in my analysis of the property value to the extent that I had marl<et evidence to support them. I have also commented about the effect of the adverse conditions on the marl<etability of the subject property. 9. I 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 ha'\19 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: If 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: 904 S. FRIENDSWOOD RD. . FRIENDSWOOD. TX .. TEXAS 77565 APPRAISER: SUPERVISORY APPRAISER (only if required): ���-:> -Name: R.R.Wilkenfeld ----u._ __ ) Signature: Signature: Name: ----------------------Date Signed: April 25__., 2003"'-------------­State Certification #: TX-1321349-G.�--------- Date Signed: __ State Certification #: or State License#: or State License #: State: ..,T..,_X.,__ ___________________ _ State: ____________________ _ Expiration Date of Certification or License: Freddie Mac Form 439 6-93 6/30/03 Expiration Date of Certification or License: □ Did □ Did Not Insp ect Property Page 2 of 2 Fannie Mae Form 10046 6-93 The Wilkenfeld Company