JEAN E. BENNETT APPRAISAL CO., LLC.

File No. EUCLID~128

July 12, 2023

First Bank
722 Columbia Avenue
Franklin, TN, 37064

File Number: EUCLID~128

Dear Lender:

In accordance with your request, I have appraised the real property at:

128 Euclid Dr
Evansville, IN 47714-0221

The purpose of this appraisal is to develop an opinion of the market value of the subject property, as improved.
The property rights appraised are the fee simple interest in the site and improvements.

In my opinion, the market value of the property as of July 12, 2023 is:

$137,000
One Hundred Thirty-Seven Thousand Dollars

The attached report contains the description, analysis and supportive data for the conclusions,
final opinion of value, descriptive photographs, limiting conditions and appropriate certifications.

Respectfully submitted,

Jean E Bennett
IN Certified Residential Appraiser

10633 Monticello Drive, Newburgh, IN 47630

 JEAN E. BENNETT APPRAISAL CO., LLC.

Uniform Residential Appraisal Report File No. EUCLID~128

The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property.
Property Address 128 Euclid Dr City Evansville State IN Zip Code 47714-0221
Borrower Jason Shao Owner of Public Record Janet L Meyer County Vanderburgh
Legal Description IROQUOIS GARDENS L 12 SEC E
Assessor's Parcel # 82-06-26-013-121.012-027 Tax Year 2023 R.E. Taxes $ 1,384
Neighborhood Name Evansville Map Reference Vanderburgh Census Tract 0037.01
SUBJECT

Occupant X Owner Tenant Vacant Special Assessments $ 0 PUD HOA $ 0 per year per month
Property Rights Appraised X Fee Simple Leasehold Other (describe)
Assignment Type X Purchase Transaction Refinance Transaction Other (describe)
Lender/Client First Bank Address 722 Columbia Avenue, Franklin, TN 37064
Is the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal? X Yes No
Report data source(s) used, offering price(s), and date(s). DOM 19;Per EAAR #202318904, subject property was listed for sale on 06/06/2023 for $138,900.

I X did did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was not performed.
Arms length sale;I analyzed the Purchase Agreement provided to me by my client.
CONTRACT

Contract Price $ 134,500 Date of Contract 06/25/2023 Is the property seller the owner of public record? X Yes No Data Source(s) Assessor
Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower? Yes X No
If Yes, report the total dollar amount and describe the items to be paid. $0;;No financial assistance provided.

Note: Race and the racial composition of the neighborhood are not appraisal factors.
Neighborhood Characteristics One-Unit Housing Trends One-Unit Housing Present Land Use %
Location Urban X Suburban Rural Property Values X Increasing Stable Declining PRICE AGE One-Unit 65 %
Built-Up X Over 75% 25-75% Under 25% Demand/Supply X Shortage In Balance Over Supply $(000) (yrs) 2-4 Unit 10 %
NEIGHBORHOOD

Growth Rapid X Stable Slow Marketing Time X Under 3 mths 3-6 mths Over 6 mths Low 30 Multi-Family 10 %
Neighborhood Boundaries Arterial roads include Highway 66 to the north, Washington Avenue to the south, Lincoln High 110 Commercial 15 %
Avenue to the west and Fuquay Road to the east. Pred. Other %
Neighborhood Description The neighborhood is an older residential part of the city developed in the mid forties. The subdivision is built out, but new consruction
remains strong on the east side of the city. Homes are of varying styles. Many have been been remodeled and updated. Amenities are easily accessible by the
arterial roads.
Market Conditions (including support for the above conclusions) The local real estate market has remained relatively stable. Marketing times had decreased over the last
year, but are beginning to stable out. Seller financing concessions are typical in the market today. Interest rates had been low in the last year and a half, but started
rising in the last few months, and the market has become more stable with minimal fluctuation..
Dimensions 80 x 113 Area 9040 sf Shape rectangular/corner View N;Res;
Specific Zoning Classification R1 Zoning Description Single family dwellings
Zoning Compliance X Legal Legal Nonconforming (Grandfathered Use) No Zoning Illegal (describe)
Is the highest and best use of the subject property as improved (or as proposed per plans and specifications) the present use? X Yes No If No, describe.

Utilities Public Other (describe) Public Other (describe) Off-site Improvements—Type Public Private
Electricity X Water X Street macadam X
SITE

Gas X Sanitary Sewer X Alley none

FEMA Special Flood Hazard Area Yes X No FEMA Flood Zone X FEMA Map # 18163C0201D FEMA Map Date 03/17/2011
Are the utilities and off-site improvements typical for the market area? X Yes No If No, describe. assume subject has typical utilities for the area.
Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? Yes X No If Yes, describe. I was not
provided a survey of the site, but assume subject has typical utilities easements, etc. Home is on the northeast corner of Euclid and Sycamore. Site is level and
typical size for the area. Drainage appears adequate. Land information was obtained from the Vanderburgh Assessor.

GENERAL DESCRIPTION FOUNDATION EXTERIOR DESCRIPTION materials/condition INTERIOR materials/condition

Units X One One with Accessory Unit X Concrete Slab Crawl Space Foundation Walls cc block/avg. Floors tile/cpt./avg.
# of Stories 1 Full Basement Partial Basement Exterior Walls br/al/vnl./avg. Walls dw/avg.
Type X Det. Att. S-Det./End Unit Basement Area 0 sq. ft. Roof Surface shingle/avg. Trim/Finish typical/avg.
X Existing Proposed Under Const. Basement Finish 0% Gutters & Downspouts alum/avg. Bath Floor tile/avg.
Design (Style) ranch Outside Entry/Exit Sump Pump Window Type dbl.hung/avg. Bath Wainscot typical/avg.
Year Built 1946 Evidence of Infestation Storm Sash/Insulated yes/avg. Car Storage None
Effective Age (Yrs) 30 Dampness Settlement Screens yes/avg. X Driveway # of Cars 2
Attic None Heating X FWA HWBB Radiant Amenities WoodStove(s) # 0 Driveway Surface cc
Drop Stair Stairs Other Fuel gas Fireplace(s) # 0 X Fence wd Garage # of Cars 0
Floor X Scuttle Cooling X Central Air Conditioning X Patio/Deck cc X Porch cc Carport # of Cars 0
Finished Heated Individual Other Pool none X Other workshop Att. Det. Built-in
IMPROVEMENTS

Appliances Refrigerator X Range/Oven Dishwasher Disposal Microwave Washer/Dryer Other (describe)

Finished area above grade contains: 5 Rooms 3 Bedrooms 1.0 Bath(s) 991 Square Feet of Gross Living Area Above Grade
Additional features (special energy efficient items, etc.). Subject has energy efficient items typical of a house its age.

C3;Kitchen-updated-timeframe unknown;Bathrooms-updated-less
Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.).
than one year ago;Home appears adequately maintained and has numerous updates.Kitchen has new counter and backsplash. Bath has been updated with new
vanity and extensive tiled tub surround. Light fixtures, flooring and hardware have been replaced throughout. Rooms are freshly painted. Physical deterioration is
caused by normal wear and tear on properties. No functional nor external obsolescence was observed.

Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? Yes X No If Yes, describe. None noted.

X Yes If No, describe. Property conforms well with

Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)?
No
the neighborhood. Homes are homogeneous, and subject is neither an over improvement nor an under improvement for the area.

Freddie Mac Form 70 March 2005 UAD Version 9/2011 Produced using ACI software, 800.234.8727 www.aciweb.com Fannie Mae Form 1004 March 2005
Page 1 of 6 1004_05UAD 12182015
 JEAN E. BENNETT APPRAISAL CO., LLC.

Uniform Residential Appraisal Report File No. EUCLID~128

There are 0 comparable properties currently offered for sale in the subject neighborhood ranging in price from $ 0 to $ 0 .
There are 10 comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ 120,000 to $ 156,000 .
FEATURE SUBJECT COMPARABLE SALE NO. 1 COMPARABLE SALE NO. 2 COMPARABLE SALE NO. 3
128 Euclid Dr 7601 Washington Ave 1418 Greenfield Rd 836 Stewart Ave
Address Evansville, IN 47714-0221 Evansville, IN 47715-4517 Evansville, IN 47715-6018 Evansville, IN 47715-4250
Proximity to Subject 2.11 miles SE 1.82 miles SE 0.94 miles SE
Sale Price $ 134,500 $ 134,000 $ 147,500 $ 148,000
Sale Price/Gross Liv. Area $ 135.72 sq. ft. $ 130.73 sq. ft. $ 135.32 sq. ft. $ 147.41 sq. ft.
Data Source(s) EAAR #202250074;DOM 13 Owner #202305170;DOM 2 EAAR #202245805;DOM 4
Verification Source(s) Assessor Appraiser Assessor
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment
Sale or Financing ArmLth ArmLth ArmLth
Concessions Conv;0 0 Conv;0 FHA;2200 0
Date of Sale/Time s02/23;c01/23 s03/23;c02/23 s12/22;c11/22
Location N;Res; N;Res; N;Res; N;Res;
Leasehold/Fee Simple fee fee fee fee
Site 9040 sf 10019 sf 0 12197 sf 0 13068 sf 0
View N;Res; N;Res; N;Res; N;Res;
Design (Style) DT1;ranch DT1;ranch DT1;ranch DT1;ranch
Quality of Construction Q4 Q4 Q4 Q4
Actual Age 77 63 0 75 0 78 0
Condition C3 C3 C3 C3
Above Grade Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths
Room Count 5 3 1.0 5 3 1.0 5 2
1.0 2,000 5 2 1.0 2,000
Gross Living Area 40 991 sq. ft. 1,025 sq. ft. -1,500 1,090 sq. ft. -4,000 1,004 sq. ft. 0
Basement & Finished 0sf 0sf 272sf0sfin -6,000 0sf
Rooms Below Grade
Functional Utility typical for design typical for design typical for design typical for design
SALES COMPARISON APPROACH

Heating/Cooling FWA/CA FWA/CA FWA/CA FWA/CA

Energy Efficient Items typical for age typical for age typical for age typical for age
Garage/Carport 2dw 1cp1dw 0 1ga1dw -5,000 2gd2dw -10,000
Porch/Patio/Deck op.,cov.pat.,wrksh op porch, patio 4,000 op.,deck,brzeway 0 op porch, patio 3,000

Net Adjustment (Total) X + - $ 2,500 X - $ + 13,000 + X - $ 5,000

Adjusted Sale Price Net Adj. 1.9% -8.8 %
Net Adj. Net Adj. -3.4%
of Comparables Gross Adj. 4.1% $ 136,500 Gross Adj.
11.5% $ 134,500 Gross Adj. 10.1% $ 143,000
I X did did not research the sale or transfer history of the subject property and comparable sales. If not, explain I researched sales on subject property and all comparable
sales.

My research did X did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal.
Data source(s) MLS/Assessor
My research did X did not reveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale.
Data source(s) MLS./Assessor
Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).
ITEM SUBJECT COMPARABLE SALE NO. 1 COMPARABLE SALE NO. 2 COMPARABLE SALE NO. 3
Date of Prior Sale/Transfer
Price of Prior Sale/Transfer
Data Source(s) Assessor/Multilist Assessor/Multilist EAAR/Assessor Assessor/Multilist
Effective Date of Data Source(s) 07/12/2023 07/12/2023 07/12/2023 07/12/2023
Analysis of prior sale or transfer history of the subject property and comparable sales Subject has no prior sales within the last 3 years of this report date .None of the
comparables sales had any prior sales within the required time period.

Summary of Sales Comparison Approach. These 3 sales are considered to be the closet in size, proximity and age. All sales are taken out of same neighborhood and
school districts or similar, competing areas as of the date of this report. Sales used have similar floor plans. Search criteria also included homes that have been
renovated as subject has been. All sales are similar in quality and condition. Bedroom adjustments are $2000 per bedroom, and bathroom adjustments are $2000 per
half bath. No age adjustments are used, as all sales are similar in effective age. All sales are given weight.

Indicated Value by Sales Comparison Approach $ 137,000

Indicated Value by: Sales Comparison Approach $ 137,000 Cost Approach (if developed) $ 0 Income Approach (if developed) $
The cost approach was not developed due to the difficulty of estimating accrued depreciation. The sales comparison approach was developed and relied upon
heavily due to adequate sales data. The income approach was not developed as this type property is not typically purchased for income purposes.
RECONCILIATION

This appraisal is made X "as is," subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed,
subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or subject to the following required
inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair: This appraisal has been developed for my client for lending
purposes and is not valid unless all pages are intact.
Based on a complete visual inspection of the interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limiting
conditions, and appraiser’s certification, my (our) opinion of the market value, as defined, of the real property that is the subject of this report is $ 137,000
as of 07/12/2023 , which is the date of inspection and the effective date of this appraisal.
Freddie Mac Form 70 March 2005 UAD Version 9/2011 Produced using ACI software, 800.234.8727 www.aciweb.com Fannie Mae Form 1004 March 2005
Page 2 of 6 1004_05UAD 12182015

JEAN E. BENNETT CO., LLC.

 JEAN E. BENNETT APPRAISAL CO., LLC.

Uniform Residential Appraisal Report File No. EUCLID~128

The Intended User of this appraisal report is the Lender/Client. No additional intended users are identified by the appraiser. This report contains sufficient
information to enable the lender/client to understand the report. Any other party receiving a copy of this report for any reason is not an intended user; nor does
receiving a copy of this report result in an appraiser-client relationship. Use of this report by any other party(is) is not intended by the appraiser.
The intended use is to evaluate the property that is the subject of this appraisal for a mortgage finance transaction, subject to the stated scope of work,
purpose, reporting requirements, and definition of market value.
Scope of Work: This appraiser made a visual inspection of site. This appraiser is not a home inspector, termite inspector, building inspector nor structural
engineer. The utilities were on and operating. The appraiser is not an expert with regard to foundation issues and the client, if concerned, is invited to employ the
services of experts in this area. We assume that any cracks are not indicative of a foundation problem. Sketches are only intended to assist in visualizing the
improvements on the property. Locations and dimensions are approximate. May not be to scale and not intended for legal use. Any deviations in square footage are of
little or no consequence in the value indication. The measurements and dwelling sketch supplied in the appraisal report are for appraiser purposes of comparison to
the comparable sales/listings analyzed in the Sales or Listing Comparison Analysis. The supplied sketch is not an architectural rendering of the subject dwelling and is
not to be considered as such as the appraiser is not a licensed architect. Icons are software representations and may not represent actual features of the subject
property. They are included to assist the reader in visualizing the improvements. The Gross Living Area (GLA) stated in this report is based on physical
measurements, and American National Standards Institute (ANSI) GLA computations and may or may not agree with the Gross Living Area published by the tax
assessor, the MLS or the builder of the subject or the comparable sales. Those stated square foot areas have no bearing on the comparison/bracketing/limiting of the
value range analysis utilized in the Sales Comparison Analysis of this appraisal report. Any reference to the square footage of the premises, both the land and the
ADDITIONAL COMMENTS

improvements thereon, is approximate and not guaranteed by the appraiser. Appraiser is not legally liable nor legally responsible for square footage discrepancies on
the attached sketch. If square footage is a material matter to any reader or user, it must be independently verified has appraiser is not liable for discrepancies. This
appraiser physically measured the property and to the best of my knowledge they are true and accurate but are not guaranteed to be free from defects, nor is
appraiser legally liable or responsible for any discrepancy on the sketch. The GLA is based on measurements made by the appraiser at the time of inspection. The
measurement technique used is based on local practices for measuring residential properties. However, due to variations associated with on site measurements (tape
stretching, obstructions, second level insets, knee walls, and non-square areas) GLA calculations are approximate and are an estimated glaThis appraisal does not
guarantee the property free of defects. I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report
within the three-year period immediately preceding acceptance of this assignment. There are no extraordinary assumptions or hypothetical conditions that apply to
the statement of value unless specified in this appraisal. A reasonable exposure time for the subject property is 6 months.
Cost approach is for valuation purposes only. No one client or 3rd party should rely on these figures for insurance purposes. The definition of "market value"
of this report are not consistent with the definition of "insurable value."
ENVIRONMENTAL DISCLAIMERS: The value estimated is based on the assumption that the property is not negatively affected by the existence of
hazardous substances or detrimental environmental conditions unless otherwise stated in this report. The appraiser is not an expert in the identification of hazardous
substances such as lead paint, Penta, asbestos, UFFI, mold and other biological contaminants, etc. or detrimental environmental conditions such as underground
storage tanks, toxic waste, etc. The appraiser's routine viewing of and inquiries about the subject property did not develop any information that indicated any apparent
significant hazardous substances or detrimental environmental conditions which would affect the property negatively unless otherwise stated in this report. It is
possible that tests and inspections made by a qualified hazardous substance and environmental expert would reveal the existence of hazardous substances or
detrimental environmental conditions on or around the property that would negatively affect its value. We recommend such a study be made for older buildings.
See following page for additional addenda.

COST APPROACH TO VALUE (not required by Fannie Mae)

Provide adequate information for the lender/client to replicate the below cost figures and calculations.
Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value) Subject is in a suburban where acreage varies in price and
size. A research of lot sales indicate range from $3,000 to $50,000 per acre.

ESTIMATED REPRODUCTION OR REPLACEMENT COST NEW OPINION OF SITE VALUE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . = $ 16,000

COST APPROACH

Source of cost data Marshall & Swift Residential Cost Handbook Dwelling 991 Sq. Ft. @ $ .. .. .. .. .. .. = $ 0
Quality rating from cost service avg. Effective date of cost data Sq. Ft. @ $ .. .. .. .. .. .. = $ 0
Comments on Cost Approach (gross living area calculations, depreciation, etc.)
Garage/Carport 0 Sq. Ft. @ $ .. .. .. .. .. .. = $ 0
Total Estimate of Cost-New . .. .. .. .. .. . = $ 0
Less Physical Functional External
Depreciation $0 $0 = $( 0)
Depreciated Cost of Improvements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . = $ 0
"As-is" Value of Site Improvements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . = $

Estimated Remaining Economic Life (HUD and VA only) 50 Years INDICATED VALUE BY COST APPROACH . . . . . . . . . . . . . . . . . . . . . . = $
INCOME APPROACH TO VALUE (not required by Fannie Mae)
INCOME

Estimated Monthly Market Rent $ X Gross Rent Multiplier =$ Indicated Value by Income Approach
Summary of Income Approach (including support for market rent and GRM)

PROJECT INFORMATION FOR PUDs (if applicable)

Is the developer/builder in control of the Homeowners' Association (HOA)? Yes No Unit type(s) Detached Attached
Provide the following information for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit.
Legal name of project
Total number of phases Total number of units Total number of units sold
PUD INFORMATION

Total number of units rented Total number of units for sale Data source(s)
Was the project created by the conversion of an existing building(s) into a PUD? Yes No If Yes, date of conversion.
Does the project contain any multi-dwelling units? Yes No Data source(s)
Are the units, common elements, and recreation facilities complete? Yes No If No, describe the status of completion.

Are the common elements leased to or by the Homeowners' Association? Yes No If Yes, describe the rental terms and options.

Describe common elements and recreational facilities.

Freddie Mac Form 70 March 2005 UAD Version 9/2011 Produced using ACI software, 800.234.8727 www.aciweb.com Fannie Mae Form 1004 March 2005
Page 3 of 6 1004_05UAD 12182015
 JEAN E. BENNETT APPRAISAL CO., LLC.

Uniform Residential Appraisal Report File No. EUCLID~128

This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit; including a
unit in a planned unit development (PUD). This report form is not designed to report an appraisal of a manufactured home or a unit
in a condominium or cooperative project.

This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value, statement of
assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intended use, intended user,
definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work
to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or
deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations
to this appraisal report, such as those required by law or those related to the appraiser’s continuing education or membership in an
appraisal organization, are permitted.

SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the
reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions
and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the
interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at
least the street, (4) research, verify, and analyze data from reliable public and/or private sources, and (5) report his or her analysis,
opinions, and conclusions in this appraisal report.

INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of
this appraisal for a mortgage finance transaction.

INTENDED USER: The intended user of this appraisal report is the lender/client.

DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market
under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is
not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of
title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed
or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for
exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements
comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative
financing or sales concessions* granted by anyone associated with the sale.

*Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are
necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily
identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be
made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already
involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the
financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or
concessions based on the appraiser's judgment.

STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser’s certification in this report is subject to the
following assumptions and limiting conditions:

1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title
to it, except for information that he or she became aware of during the research involved in performing this appraisal. The
appraiser assumes that the title is good and marketable and will not render any opinions about the title.

2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements. The
sketch is included only to assist the reader in visualizing the property and understanding the appraiser’s determination of its size.

3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or
other data sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified Special
Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this
determination.

4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question,
unless specific arrangements to do so have been made beforehand, or as otherwise required by law.

5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of
hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of
during the research involved in performing this appraisal. Unless otherwise stated in this appraisal report, the appraiser has no
knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to,
needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that
would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or
warranties, express or implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering or
testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of
environmental hazards, this appraisal report must not be considered as an environmental assessment of the property.

6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory
completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will be
performed in a professional manner.

Freddie Mac Form 70 March 2005 UAD Version 9/2011 Produced using ACI software, 800.234.8727 www.aciweb.com Fannie Mae Form 1004 March 2005
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Uniform Residential Appraisal Report File No. EUCLID~128

APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that:

1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this
appraisal report.

2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition of
the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the livability,
soundness, or structural integrity of the property.

3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice
that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the
time this appraisal report was prepared.

4. I developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison
approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal
assignment. I further certify that I considered the cost and income approaches to value but did not develop them, unless otherwise
indicated in this report.

5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale
of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject property
for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report.

6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the
date of sale of the comparable sale, unless otherwise indicated in this report.

7. I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property.

8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home
that has been built or will be built on the land.

9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject
property and the comparable sales.

10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest in
the sale or financing of the subject property.

11. I have knowledge and experience in appraising this type of property in this market area.

12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listing
services, tax assessment records, public land records and other such data sources for the area in which the property is located.

13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from
reliable sources that I believe to be true and correct.

14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject
property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. I have
noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of
hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property
or that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in
my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject
property.

15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all
statements and information in this appraisal report are true and correct.

16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are
subject only to the assumptions and limiting conditions in this appraisal report.

17. I have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective
personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my
analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, marital status, handicap,
familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or
occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law.

18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned
on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predetermined
specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the
attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan
application).

19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied on
significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the
preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in this appraisal
report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to
any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take no responsibility for it.

20. I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization that ordered
and will receive this appraisal report.

21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of the borrower;
the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; other secondary market
participants; data collection or reporting services; professional appraisal organizations; any department, agency, or instrumentality
of the United States; and any state, the District of Columbia, or other jurisdictions; without having to obtain the appraiser’s or
supervisory appraiser’s (if applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or
distributed to any other party (including, but not limited to, the public through advertising, public relations, news, sales, or other
media).
Freddie Mac Form 70 March 2005 UAD Version 9/2011 Produced using ACI software, 800.234.8727 www.aciweb.com Fannie Mae Form 1004 March 2005
Page 5 of 6 1004_05UAD 12182015
 JEAN E. BENNETT APPRAISAL CO., LLC.

Uniform Residential Appraisal Report File No. EUCLID~128

22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain laws
and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that
pertain to disclosure or distribution by me.

23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers,
government sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any
mortgage finance transaction that involves any one or more of these parties.

24. If this appraisal report was transmitted as an “electronic record” containing my “electronic signature,” as those terms are
defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal
report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a
paper version of this appraisal report were delivered containing my original hand written signature.

25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/or criminal
penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section
1001, et seq., or similar state laws.

SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that:

1. I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser’s
analysis, opinions, statements, conclusions, and the appraiser’s certification.

2. I accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser’s analysis,
opinions, statements, conclusions, and the appraiser’s certification.

3. The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser (or the
appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law.

4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and
promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal
report was prepared.

5. If this appraisal report was transmitted as an “electronic record” containing my “electronic signature,” as those terms are
defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal
report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a
paper version of this appraisal report were delivered containing my original hand written signature.

APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED)

Signature Signature
Name Jean E Bennett Name
Company Name Jean E. Bennett Appraisal Co., LLC. Company Name
Company Address 10633 Monticello Drive Company Address
Newburgh, IN 47630
Telephone Number 8124532211 Telephone Number
Email Address jeanbennettappraiser@gmail.com Email Address
Date of Signature and Report 07/16/2023 Date of Signature
Effective Date of Appraisal 07/12/2023 State Certification #
State Certification # CR60700710 or State License #
or State License # State
or Other (describe) State # Expiration Date of Certification or License
State IN
Expiration Date of Certification or License 06/30/2024

ADDRESS OF PROPERTY APPRAISED SUBJECT PROPERTY

128 Euclid Dr Did not inspect subject property
Evansville, IN 47714-0221 Did inspect exterior of subject property from street
Date of Inspection
APPRAISED VALUE OF SUBJECT PROPERTY $ 137,000 Did inspect interior and exterior of subject property
Date of Inspection
LENDER/CLIENT
Name Regorra COMPARABLE SALES
Company Name First Bank Did not inspect exterior of comparable sales from street
Company Address 722 Columbia Avenue Did inspect exterior of comparable sales from street
Franklin, TN 37064 Date of Inspection
Email Address

Freddie Mac Form 70 March 2005 UAD Version 9/2011 Produced using ACI software, 800.234.8727 www.aciweb.com Fannie Mae Form 1004 March 2005
Page 6 of 6 1004_05UAD 12182015

JEAN E. BENNETT CO., LLC.

 JEAN E. BENNETT APPRAISAL CO., LLC.

Uniform Appraisal Dataset Definitions File No. EUCLID~128

Condition Ratings and Definitions

C1 The improvements have been very recently constructed and have not previously been occupied. The entire structure and all components are new and the dwelling features no
physical depreciation.*
*Note: Newly constructed improvements that feature recycled materials and/or components can be considered new dwellings provided that the dwelling is placed on a 100% new
foundation and the recycled materials and the recycled components have been rehabilitated/re-manufactured into like-new condition. Recently constructed improvements that have
not been previously occupied are not considered "new" if they have any significant physical depreciation (i.e., newly constructed dwellings that have been vacant for an extended
period of time without adequate maintenance or upkeep).
C2 The improvements feature no deferred maintenance, little or no physical depreciation, and require no repairs. Virtually all building components are new or have been recently
repaired, refinished, or rehabilitated. All outdated components and finishes have been updated and/or replaced with components that meet current standards. Dwellings in this category
either are almost new or have been recently completely renovated and are similar in condition to new construction.
*Note: The improvements represent a relatively new property that is well maintained with no deferred maintenance and little or no physical depreciation, or an older property that has
been recently completely renovated.
C3 The improvements are well maintained and feature limited physical depreciation due to normal wear and tear. Some components, but not every major building component, may
be updated or recently rehabilitated. The structure has been well maintained.
*Note: The improvement is in its first-cycle of replacing short-lived building components (appliances, floor coverings, HVAC, etc.) and is being well maintained. Its estimated effective age
is less than its actual age. It also may reflect a property in which the majority of short-lived building components have been replaced but not to the level of a complete renovation.
C4 The improvements feature some minor deferred maintenance and physical deterioration due to normal wear and tear. The dwelling has been adequately maintained and requires
only minimal repairs to building components/mechanical systems and cosmetic repairs. All major building components have been adequately maintained and are functionally adequate.
*Note: The estimated effective age may be close to or equal to its actual age. It reflects a property in which some of the short-lived building components have been replaced, and some
short-lived building components are at or near the end of their physical life expectancy; however, they still function adequately. Most minor repairs have been addressed on an ongoing
basis resulting in an adequately maintained property.
C5 The improvements feature obvious deferred maintenance and are in need of some significant repairs. Some building components need repairs, rehabilitation, or updating. The
functional utility and overall livability is somewhat diminished due to condition, but the dwelling remains useable and functional as a residence.
*Note: Some significant repairs are needed to the improvements due to the lack of adequate maintenance. It reflects a property in which many of its short-lived building components are
at the end of or have exceeded their physical life expectancy but remain functional.
C6 The improvements have substantial damage or deferred maintenance with deficiencies or defects that are severe enough to affect the safety, soundness, or structural integrity
of the improvements. The improvements are in need of substantial repairs and rehabilitation, including many or most major components.
*Note: Substantial repairs are needed to the improvements due to the lack of adequate maintenance or property damage. It reflects a property with conditions severe enough to affect
the safety, soundness, or structural integrity of the improvements.

Quality Ratings and Definitions

Q1 Dwellings with this quality rating are usually unique structures that are individually designed by an architect for a specified user. Such residences typically are constructed from
detailed architectural plans and specifications and feature an exceptionally high level of workmanship and exceptionally high-grade materials throughout the interior and exterior of the
structure. The design features exceptionally high-quality exterior refinements and ornamentation, and exceptionally high-quality interior refinements. The workmanship, materials, and
finishes throughout the dwelling are of exceptionally high quality.
Q2 Dwellings with this quality rating are often custom designed for construction on an individual property owner's site. However, dwellings in this quality grade are also found in
high-quality tract developments featuring residences constructed from individual plans or from highly modified or upgraded plans. The design features detailed, high-quality exterior
ornamentation, high-quality interior refinements, and detail. The workmanship, materials, and finishes throughout the dwelling are generally of high or very high quality.
Q3 Dwellings with this quality rating are residences of higher quality built from individual or readily available designer plans in above-standard residential tract developments or on
an individual property owner's site. The design includes significant exterior ornamentation and interiors that are well finished. The workmanship exceeds acceptable standards and
many materials and finishes throughout the dwelling have been upgraded from "stock" standards.
Q4 Dwellings with this quality rating meet or exceed the requirements of applicable building codes. Standard or modified standard building plans are utilized and the design includes
adequate fenestration and some exterior ornamentation and interior refinements. Materials, workmanship, finish, and equipment are of stock or builder grade and may feature some
upgrades.
Q5 Dwellings with this quality rating feature economy of construction and basic functionality as main considerations. Such dwellings feature a plain design using readily available or
basic floor plans featuring minimal fenestration and basic finishes with minimal exterior ornamentation and limited interior detail. These dwellings meet minimum building codes and are
constructed with inexpensive, stock materials with limited refinements and upgrades.
Q6 Dwellings with this quality rating are of basic quality and lower cost; some may not be suitable for year-round occupancy. Such dwellings are often built with simple plans or
without plans, often utilizing the lowest quality building materials. Such dwellings are often built or expanded by persons who are professionally unskilled or possess only minimal
construction skills. Electrical, plumbing, and other mechanical systems and equipment may be minimal or non-existent. Older dwellings may feature one or more substandard or
non-conforming additions to the original structure.

Definitions of Not Updated, Updated, and Remodeled

Not Updated
Little or no updating or modernization. This description includes, but is not limited to, new homes.
Residential properties of fifteen years of age or less often reflect an original condition with no updating, if no major components have been replaced or updated. Those over fifteen
years of age are also considered not updated if the appliances, fixtures, and finishes are predominantly dated. An area that is 'Not Updated' may still be well maintained and fully
functional, and this rating does not necessarily imply deferred maintenance or physical /functional deterioration.

Updated
The area of the home has been modified to meet current market expectations. These modifications are limited in terms of both scope and cost.
An updated area of the home should have an improved look and feel, or functional utility. Changes that constitute updates include refurbishment and/or replacing components to meet
existing market expectations. Updates do not include significant alterations to the existing structure.

Remodeled
Significant finish and/or structural changes have been made that increase utility and appeal through complete replacement and/ or expansion.
A remodeled area reflects fundamental changes that include multiple alterations. These alterations may include some or all of the following: replacement of a major component
(cabinet(s), bathtub, or bathroom tile), relocation of plumbing/gas fixtures/appliances, significant structural alterations (relocating walls, and/or the addition of square footage).
This would include a complete gutting and rebuild.

Explanation of Bathroom Count

The number of full and half baths is reported by separating the two values by a period. The full bath is represented to the left of the period. The half bath count is represented to the
right of the period. Three-quarter baths are to be counted as a full bath in all cases. Quarter baths (baths that feature only toilet) are not to be included in the bathroom count.

UAD Version 9/2011 Produced using ACI software, 800.234.8727 www.aciweb.com 1004_05UAD 12182015
Uniform Appraisal Dataset Definitions
 JEAN E. BENNETT APPRAISAL CO., LLC.

Uniform Appraisal Dataset Definitions File No. EUCLID~128

Abbreviations Used in Data Standardization Text

Abbrev. Full Name Appropriate Fields Abbrev. Full Name Appropriate Fields
ac Acres Area, Site in Interior Only Stairs Basement & Finished Rooms Below Grade
AdjPrk Adjacent to Park Location Lndfl Landfill Location
AdjPwr Adjacent to Power Lines Location LtdSght Limited Sight View
A Adverse Location & View Listing Listing Sale or Financing Concessions
ArmLth Arms Length Sale Sale or Financing Concessions MR Mid-Rise Structure Design(Style)
AT Attached Structure Design(Style) Mtn Mountain View View
ba Bathroom(s) Basement & Finished Rooms Below Grade N Neutral Location & View
br Bedroom Basement & Finished Rooms Below Grade NonArm Non-Arms Length Sale Sale or Financing Concessions
B Beneficial Location & View op Open Garage/Carport
BsyRd Busy Road Location o Other Basement & Finished Rooms Below Grade
cp Carport Garage/Carport O Other Design(Style)
Cash Cash Sale or Financing Concessions Prk Park View View
CtySky City View Skyline View View Pstrl Pastoral View View
CtyStr City Street View View PwrLn Power Lines View
Comm Commercial Influence Location PubTrn Public Transportation Location
c Contracted Date Date of Sale/Time rr Recreational (Rec) Room Basement & Finished Rooms Below Grade
Conv Conventional Sale or Financing Concessions Relo Relocation Sale Sale or Financing Concessions
cv Covered Garage/Carport REO REO Sale Sale or Financing Concessions
CrtOrd Court Ordered Sale Sale or Financing Concessions Res Residential Location & View
DOM Days On Market Data Sources RT Row or Townhouse Design(Style)
DT Detached Structure Design(Style) RH Rural Housing - USDA Sale or Financing Concessions
dw Driveway Garage/Carport SD Semi-detached Structure Design(Style)
Estate Estate Sale Sale or Financing Concessions s Settlement Date Date of Sale/Time
e Expiration Date Date of Sale/Time Short Short Sale Sale or Financing Concessions
FHA Federal Housing Authority Sale or Financing Concessions sf Square Feet Area, Site, Basement
g Garage Garage/Carport sqm Square Meters Area, Site, Basement
ga Garage - Attached Garage/Carport Unk Unknown Date of Sale/Time
gbi Garage - Built-in Garage/Carport VA Veterans Administration Sale or Financing Concessions
gd Garage - Detached Garage/Carport wo Walk Out Basement Basement & Finished Rooms Below Grade
GR Garden Structure Design(Style) wu Walk Up Basement Basement & Finished Rooms Below Grade
GlfCse Golf Course Location WtrFr Water Frontage Location
Glfvw Golf Course View View Wtr Water View View
HR High Rise Structure Design(Style) w Withdrawn Date Date of Sale/Time
Ind Industrial Location & View Woods Woods View View

Other Appraiser-Defined Abbreviations

Abbrev. Full Name Appropriate Fields Abbrev. Full Name Appropriate Fields

UAD Version 9/2011 Produced using ACI software, 800.234.8727 www.aciweb.com 1004_05UAD 12182015
Uniform Appraisal Dataset Definitions
 ENVIRONMENTAL DISCLAIMERS: The value estimated is based on the assumption that the property is not negatively affected by the existence of
hazardous substances or detrimental environmental conditions unless otherwise stated in this report. The appraiser is not an expert in the identification of
hazardous substances such as lead paint, storage tanks, Penta, asbestos, UFFI, mold and other biological contaminants, etc. or detrimental environmental
conditions such as underground, storage tanks, , etc. The appraiser's routine viewing of and inquiries about the subject property did not develop any
information that indicated any apparent significant hazardous substances or detrimental environmental conditions which would affect the property negatively
unless otherwise stated in this report. It is possible that tests and inspections made by a qualified hazardous substance and environmental expert would
reveal the existence of hazardous substances or detrimental environmental conditions on or around the property that would negatively affect its value. We
recommend such a study be made for older buildings.
UNDERGROUND MINE SUBSIDENCE DISCLAIMER: Much of the Tri-State area was underground mined in the first half of this century. It is possible that
the subject property was once mined, but the actual history of the subject is unknown. Some maps are available but are not reliable. We have made no soil
borings nor tests to determine the extent of mining, under or near the subject. The value estimated assumes that no subsidence will occur on this property in
the future that would measurably affect the value of the property.
Future Market Conditions: Effect of Novel Coronavirus (COVID-19)
On March 13, 2020, the United States Government declared a “National Emergency Concerning the Novel Coronavirus Disease (COVID-19) Outbreak”,
which was in effect on the Effective Date of this Appraisal Report.This appraisal report was performed pursuant to the Uniform Standards of Professional
Appraisal Practice (“USPAP”) and was based on information and comparable sales available on that date. At this time, the effect of COVID-19 on the future
value of the Subject Property or the value of the real estate market in the area of the Subject Property is unknown and not possible to predict.
At the request of the client, this appraisal report has been prepared in compliance with the Uniform Appraisal Dampest (UAW) from Famine Mae and
Freebie Mac. The UAW requires the appraiser to use standardized responses that include specific formats, definitions, abbreviations, and acronym.
The appraiser attempted to obtain an adequate amount of information in the normal course of business regarding the subject and comparable
properties. Some of the standardized responses required by the UAW, especially those in which the appraiser has NOT had the opportunity to verify
personally or measure, could mistakenly imply greater precision and reliability in the data than is factually correct or typical in the normal course of business.
Examples include condition and quality ratings, GLAD, room count, basement finishes, site size, etc. as well as comparable sales and listing data. Not every
element of the subject property was viewable from the street and comparable property data was generally obtained from third-party sources: primarily the
County Assessor and the local MLS. Consequently, this information should be considered an "estimate" unless otherwise noted by the appraiser. Cost
approach is for valuation purposes only. No one client or 3rd party should rely on these figures for insurance purposes. The definition of "market value" of
this report are not consistent with the definition of "insurable value."
HIGHEST AND BEST USE: According to the Appraisal Institute, the definition for highest and best use is the reasonably probable and legal use of vacant
land or an improved property that is physically possible, appropriately supported, financially feasible, and that results in the highest value.
1. The reported analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Code of Professional Ethics
and Standards of Professional Appraisal Practice.
2. The use of this report is subject to the requirements relating to review by its duly authorized representatives.
3. As of the date of this report, I, Jean Bennett, completed the continuing education program.

Produced using ACI software, 800.234.8727 www.aciweb.com

 Borrower: Jason Shao File No.: EUCLID~128
Property Address: 128 Euclid Dr Case No.:
City: Evansville State: IN Zip: 47714-0221
Lender: First Bank

UAD ratings often overlap each other and the lines are somewhat blurred, as such the ratings are a judgement call based on my personal observations and
experience. The quality and condition ratings for the subject and comparable sales are based upon my personal inspection of the subject, and my interpretation of
the photos and comments for comparable sales from the MLS, and how they compare to the subject. The appraiser is not privy to and does not have access or
knowledge of quality and condition ratings from other appraisers/peers for the same comparable sales utilized. Additionally, the appraiser does not have knowledge
or information regarding the adjustment methods utilized by other appraisers/peers.

Several of the comparables in the appraisal report may have higher net and / or gross adjustments; however, FNMA does not have specific limitations or guidelines
associated with net or gross adjustments. The number and/or amount of the dollar adjustments must not be the sole factor to determine if a given sale is an
acceptable comparable. The sales included were deemed the best available and utilized to bracket the subjects location, features and amenities. There are no
additional sales in the subject's market segment that would result in fewer adjustments than the sales utilized in this report. Additionally, this situation is common
and many times unavoidable due to the vast array of ages, styles, sizes, quality and condition of homes within the subject's market segment.

The local market has had a steady increase in the last 18 months. However statistics indicate in the last month, with
the rise of interest rates, the market has become more stable. Homes continue to sell at their asking price,
but the "bidding wars" have become limited. In addition, the rise of interest rates have created a more limited market on purchases. There are not enough paired
sales at this time to indicate that the market is continuing to increase in the last month, therefore the box "stable" has been checked. For statistical purposes, a
minimum of 30 sales were needed in each period, and there were not that many available. A single sale has too much influence on the median and percentages.
Therefore, these percentages need to be tempered with our expertise and knowledge of the local market as a whole.

Appraiser: Supervisory Appraiser:

Name: Name:
Additional Text Addendum Produced using ACI software, 800.234.8727 www.aciweb.com TXT4R 01282013
 JEAN E. BENNETT APPRAISAL CO., LLC.

Market Conditions Addendum to the Appraisal Report File No. EUCLID~128

The purpose of this addendum is to provide the lender/client with a clear and accurate understanding of the market trends and conditions prevalent in the subject neighborhood. This is a required
addendum for all appraisal reports with an effective date on or after April 1, 2009.
Property Address 128 Euclid Dr City Evansville State IN Zip Code 47714-0221
Borrower Jason Shao
Instructions: The appraiser must use the information required on this form as the basis for his/her conclusions, and must provide support for those conclusions, regarding housing trends and
overall market conditions as reported in the Neighborhood section of the appraisal report form. The appraiser must fill in all the information to the extent it is available and reliable and must provide
analysis as indicated below. If any required data is unavailable or is considered unreliable, the appraiser must provide an explanation. It is recognized that not all data sources will be able to
provide data for the shaded areas below; if it is available, however, the appraiser must include the data in the analysis. If data sources provide the required information as an average instead of the
median, the appraiser should report the available figure and identify it as an average. Sales and listings must be properties that compete with the subject property, determined by applying the criteria
that would be used by a prospective buyer of the subject property. The appraiser must explain any anomalies in the data, such as seasonal markets, new construction, foreclosures, etc.
Inventory Analysis Prior 7-12 Months Prior 4-6 Months Current - 3 Months Overall Trend
Total # of Comparable Sales (Settled) 5 5 0 Increasing X Stable Declining
Absorption Rate (Total Sales/Months) 0.8 1.7 0.7 Increasing X Stable Declining
Total # of Comparable Active Listings not available not available 0 Declining X Stable Increasing
Months of Housing Supply (Total Listings/Ab.Rate) not available not available 2.9 Declining X Stable Increasing
Median Sale & List Price, DOM, Sale/List % Prior 7-12 Months Prior 4-6 Months Current - 3 Months Overall Trend
Median Comparable Sale Price 142,000 145,000 0 Increasing X Stable Declining
Median Comparable Sales Days on Market 63 51 0 Declining X Stable Increasing
Median Comparable List Price not available not available 145,900 X Increasing Stable Declining
MARKET RESEARCH & ANALYSIS

Median Comparable Listings Days on Market not available not available 56 Declining X Stable Increasing
Median Sale Price as % of List Price 99.8% 100% 0.0% Increasing X Stable Declining
Seller-(developer, builder, etc.)paid financial assistance prevalent? Yes X No Declining X Stable Increasing
Explain in detail the seller concessions trends for the past 12 months (e.g., seller contributions increased from 3% to 5%, increasing use of buydowns, closing costs, condo fees, options, etc.).
The Evansville Multilist does not keep historical listings. It does not allow me to research listings in the past. Current listings are available. Concession from the
seller are typical in today's market.

X Yes
Are foreclosure sales (REO sales) a factor in the market? No If yes, explain (including the trends in listings and sales of foreclosed properties).
The MLS. does not categorize foreclosure sales so this information is not available; however, is is this appraiser's opinion foreclosure sales are a factor in the
market. Foreclosure sales are not used as comparables in this report as subject has been well taken care of, and the foreclosure sales were of a different condition.
Rather than making large condition adjustments, this appraiser found it prudent to use the most similar sales. Foreclosure sales are not arm's length transactions and
typically should not be used unless they are of similar like properties.

Cite data sources for above information. Evansville Multilist.

Summarize the above information as support for your conclusions in the Neighborhood section of the appraisal report form. If you used any additional information, such as an analysis of
pending sales and/or expired and withdrawn listings, to formulate your conclusions, provide both an explanation and support for your conclusions.
Search parameters included age, square footage, and condition. Search parameters for the Market Conditions form were broadened. However, there are not enough
sales in any one of the periods above for statistical purposes. For statistical purposes, a minimum of 30 sales were needed in each period, and there were not that
many available. A single sale has too much influence on the median and percentages. The local real estate market has remained relatively stable. The market has
fluctuated, however, in general, we have not seen the decline as some areas have. Market data in our area indicates prices are relatively stable, however days on
the market have lengthened. Subject is in an area where employees are transferred in an out, and relocation companies often take possession of the home. This
could be a factor in the fluctuation of days on the market as well. There is no rhyme or reason why some homes sell within 3 to 6 months and others remain on the
market for over 6 months, other than perhaps they were overpriced to begin with. There are not enough sales for statistical purposes in the neighborhood.
Therefore, these percentages need to be tempered with our expertise and knowledge of the local market as a whole.
If the subject is a unit in a condominium or cooperative project , complete the following: Project Name:
Subject Project Data Prior 7-12 Months Prior 4-6 Months Current - 3 Months Overall Trend
Total # of Comparable Sales (Settled) Increasing Stable Declining
Absorption Rate (Total Sales/Months) Increasing Stable Declining
Total # of Active Comparable Listings Declining Stable Increasing
Months of Unit Supply (Total Listings/Ab. Rate) Declining Stable Increasing
Are foreclosure sales (REO sales) a factor in the project? Yes No If yes, indicate the number of REO listings and explain the trends in listings and sales of foreclosed properties.
CONDO / CO-OP PROJECTS

Not applicable

Summarize the above trends and address the impact on the subject unit and project. Not applicable

APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED)

Signature Signature
APPRAISER

Name Jean E Bennett Name

Company Name Jean E. Bennett Appraisal Co., LLC. Company Name
Company Address 10633 Monticello Drive Company Address
Newburgh, IN 47630
State License/Certification # CR60700710 State IN State License/Certification # State
Email Address jeanbennettappraiser@gmail.com Email Address
Freddie Mac Form 71 March 2009 Produced using ACI software, 800.234.8727 www.aciweb.com Fannie Mae Form 1004MC March 2009
Page 1 of 1 1004MC_2009 090909
 FLOORPLAN SKETCH
Borrower: Jason Shao File No.: EUCLID~128
Property Address: 128 Euclid Dr Case No.:
City: Evansville State: IN Zip: 47714-0221
Lender: First Bank

35' Workshop

14'
Bedrm Bedrm Kitchen

22'
28.3'

28.3'
Bath Bedrm
Living
Room

35'

Sketch by Apex Sketch v5 Standard™

Comments:

AREA CALCULATIONS SUMMARY LIVING AREA BREAKDOWN

Code Description Net Size Net Totals Breakdown Subtotals
GLA1 First Floor 991.05 991.05 First Floor
OTH Storage 308.00 308.00 35.0 x 28.3 991.05

Net LIVABLE Area (rounded) 991 1 Item (rounded) 991

10633 Monticello Drive, Newburgh, IN 47630

 FLOOD MAP
Borrower: Jason Shao File No.: EUCLID~128
Property Address: 128 Euclid Dr Case No.:
City: Evansville State: IN Zip: 47714-0221
Lender: First Bank

10633 Monticello Drive, Newburgh, IN 47630

 AERIAL MAP
Borrower: Jason Shao File No.: EUCLID~128
Property Address: 128 Euclid Dr Case No.:
City: Evansville State: IN Zip: 47714-0221
Lender: First Bank

10633 Monticello Drive, Newburgh, IN 47630

 SUBJECT PROPERTY PHOTO ADDENDUM
Borrower: Jason Shao File No.: EUCLID~128
Property Address: 128 Euclid Dr Case No.:
City: Evansville State: IN Zip: 47714-0221
Lender: First Bank

FRONT VIEW OF
SUBJECT PROPERTY

Appraised Date: July 12, 2023

Appraised Value: $ 137,000

REAR VIEW OF
SUBJECT PROPERTY

STREET SCENE
Borrower: Jason Shao File No.: EUCLID~128
Property Address: 128 Euclid Dr Case No.:
City: Evansville State: IN Zip: 47714-0221
Lender: First Bank

LIVING ROOM KITCHEN

BEDROOM BEDROOM

BEDROOM BATH

Produced using ACI software, 800.234.8727 www.aciweb.com PHT6

Borrower: Jason Shao File No.: EUCLID~128
Property Address: 128 Euclid Dr Case No.:
City: Evansville State: IN Zip: 47714-0221
Lender: First Bank

WORKSHOP

Produced using ACI software, 800.234.8727 www.aciweb.com PHT6

 COMPARABLE PROPERTY PHOTO ADDENDUM
Borrower: Jason Shao File No.: EUCLID~128
Property Address: 128 Euclid Dr Case No.:
City: Evansville State: IN Zip: 47714-0221
Lender: First Bank

COMPARABLE SALE #1

7601 Washington Ave

Evansville, IN 47715-4517
Sale Date: s02/23;c01/23
Sale Price: $ 134,000

COMPARABLE SALE #2

1418 Greenfield Rd
Evansville, IN 47715-6018
Sale Date: s03/23;c02/23
Sale Price: $ 147,500

COMPARABLE SALE #3

836 Stewart Ave

Evansville, IN 47715-4250
Sale Date: s12/22;c11/22
Sale Price: $ 148,000
 SINGLE FAMILY COMPARABLE RENT SCHEDULE

This form is intended to provide the appraiser with a familiar format to estimate the market rent of the subject property.
Adjustments should be made only for items of significant difference between the comparables and the subject property.

File No. EUCLID~128

ITEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3
128 Euclid Dr 4410 E Chestnut St 744 Stewart Ave 5701 Madison Ave
Address
Evansville,IN 47714-0221 Evansville, IN 47714 Evansville, IN 47714 Evansville, IN 47715
0.18 miles SW 0.85 miles SE 1.28 miles SE
Proximity to Subject

Date Lease Begins unknown unknown unknown

Date Lease Expires
Monthly Rental If Currently
Rented: $ $ 1,050 $ 1,100 $ 1,250
Less: Utilities $ $ $ $
Furniture $ $ $ $
Adjusted
Monthly Rent $ $ 1,050 $ 1,100 $ 1,250
EAAR EAAR EAAR
Data Source

RENT ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment
Rent 1000 1100 1250
Concessions
COMPARABLE RENT SCHEDULE

N;Res; N;Res; N;Res; N;Res;

Location/View
N;Res;
DT1;ranch DT1;ranch DT1;ranch DT1;ranch
Design and Appeal

77 77 74 73
Age/Condition
average average average average 50
Above Grade Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths
Room Count 5 3 1.00 5 3 1.00 5 2 1.00 50 5 2 1.10 50
Gross Living Area 991 Sq. Ft. Sq. Ft. Sq. Ft. Sq. Ft.
Other (e.g., basement, 0sf 0sf basement -50 basement -50
etc.) unfin
wrksh 1 car garage -50 none 20 1 car garage -50
Other:

Net Adj. (total) + X - $ 50 X + - $ 20 + - $ 0

Indicated Monthly 4.8 10.9 16.0
Market Rent -4.8 $ 1,000 1.8 $ 1,120 0.0 $ 1,250
Comments on market data, including the range of rents for single family properties, an estimate of vacancy for single family rental properties, the general trend
of rents and vacancy, and support for the above adjustments. (Rent concessions should be adjusted to the market, not to the subject property.)
All 3 rentals are from similar areas. They are all the same floor plan. There are no adjustments on square footage for rentals, as typically a rental is based on the
number of bedrooms and bathrooms. The above data indicates and adjusted range of rent for the subject property falls in a range of $1000 to $1250. However, research
indicates that if a landlord has a long term tenant, that pays on a timely basis, that rent may be somewhat lower than typical.

Final Reconciliation of Market Rent: The above data indicates range of rents falls between and adjusted range of $1000 to $1250, with a median of $1123. The above
data indicates that all of the above rentals would be fair and reasonable.
RECONCILIATION

I (WE) ESTIMATE THE MONTHLY MARKET RENT OF THE SUBJECT AS OF 07/12/2023 TO BE $ 1,100

APPRAISER: SUPERVISORY APPRAISER (ONLY IF REQUIRED):

Signature Signature
Name Jean E Bennett Name
Date Report Signed 07/16/2023 Date Report Signed
State Certification # CR60700710 State IN State Certification # State
Or State License # State Or State License # State
Date Property Inspected 07/12/2023 Date Property Inspected

Did Did Not Inspect Property

Freddie Mac Form 1000 (8/88) Produced using ACI software, 800.234.8727 www.aciweb.com Fannie Mae Form 1007 (8/88)
JEAN E. BENNETT CO., LLC. 1007 08192010
 One- to Four-Family Investment Property and Two- to Four-Family Owner-Occupied Property EUCLID~128
Property Address
128 Euclid Dr Evansville IN 47714-0221
Street City State Zip Code
General Instructions: This form is to be prepared jointly by the loan applicant, the appraiser, and the lender's underwriter. The
applicant must complete the following schedule indicating each unit's rental status, lease expiration date, current rent, market rent,
and the responsibility for utility expenses. Rental figures must be based on the rent for an "unfurnished" unit.

Currently Expiration Paid Current Rent Market Rent Paid

Rented Date By Tenant Per Month Per Month Utility Expense By Owner
Unit No. 1 Yes $No X $ ... X 1,100 Electricity . . . . . .
Unit No. 2 Yes $No $ ... X Gas . . . . . . . . . .
Unit No. 3 Yes $No $ ... X Fuel Oil . . . . . . .
Unit No. 4 Yes $No $ ... X Fuel (Other) . . . .
Total $ $ ... X 1,100 Water/Sewer . . . .
... X Trash Removal . .
The applicant should complete all of the income and expense projections and year-end operating for existing properties provide actual
statements for the past two years (for new properties the applicant's projected income and expenses must be provided). T h i s O p e r a t i n g
Income Statement and previous operating statements the applicant provides must then be sent to the appraiser for review, com-
ment, and/or adjustments next to the applicant's figures (e.g., Applicant/Appraiser 288/300). If the a p p r a i s e r i s r e t a i n e d t o c o m p l e t e
the form instead of the applicant, the lender must provide to the appraiser the aforementioned operating statements, mortgage insur-
ance premium, HOA dues, leasehold payments, subordinate financing, and/or any other relevant information as to the income and
expenses of the subject property received from the applicant to substantiate the projections. The underwriter should carefully review
the applicant's/appraiser's projections and the appraiser's comments concerning those projections. The underwriter should make any
final adjustments that are necessary to more accurately reflect any income or expense items that appear unreasonable for the market.
(Real estate taxes and insurance on these types of properties are included in PITI and not calculated as an annual expense item.)
Income should be based on current rents, but should not exceed market rents. When there are no current rents because the property
is proposed, new, or currently vacant, market rents should be used.
Annual Income and Expense Projection for Next 12 months
Adjustments by
Income (Do not include income for owner-occupied units) By Applicant/Appraiser Lender's Underwriter
Gross Annual Rental (from unit(s) to be rented) . . . . . . . . . . . . . . . . . . . . . . $ 13,200 $
Other Income (include sources) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . + +
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 13,200 $
Less Vacancy/Rent Loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . - ( %) - ( %)
Effective Gross Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 13,200 $

Expenses (Do not include expenses for owner-occupied units)

Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Fuel Oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Fuel . . . . . . . . . . . . . . . . . . . . . . . . . . .(Type- )
Water/Sewer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Trash Removal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Pest Control . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Other Taxes or Licenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Casual Labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
This includes the costs for public area cleaning, snow removal,
etc., even though the applicant may not elect to contract for
such services.
Interior Paint/Decorating . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500
This includes the costs of contract labor and materials that are
required to maintain the interiors of the living units.
General Repairs/Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,000
This includes the costs of contract labor and materials that are
required to maintain the public corridors, stairways, roofs,
mechanical systems, grounds, etc.
Management Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
These are the customary expenses that a professional manage-
ment company would charge to manage the property.
Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
This includes the costs of items like light bulbs, janitorial
supplies, etc.
Total Replacement Reserves - See Schedule on Pg. 2 . . . . . . . . . . . . . . . 310
Miscellaneous . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Total Operating Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,810 $

 EUCLID~128
Replacement Reserve Schedule

Adequate replacement reserves must be calculate regardless of whether actual reserves are provided for on the owner's operating
statements or are customary in the local market. This represents the total average yearly reserves. Generally, all equipment and com-
ponents that have a remaining life of more than one year-such as refrigerators, stoves, clothes washers/dryers, trash compactors,
furnaces, roofs, and carpeting, etc.-should be expensed on a replacement cost basis.

Equipment Replacement Remaining By Applicant/ Lender

Cost Life Appraiser Adjustments

Stoves/Ranges . . . . . @$ 400.00 ea. ÷ 10 Yrs. x Units =$ 0.00 $

Refrigerators . . . . . . . . @$ 800.00 ea. ÷ 10 Yrs. x Units =$ 0.00 $
Dishwashers . . . . . . . . @$ 400.00 ea. ÷ 10 Yrs. x Units =$ 0.00 $
A/C Units . . . . . . . . . . @$ 3,000.00 ea. ÷ 15 Yrs. x Units =$ 0.00 $
C. Washer/Dryers . . . . @$ 800.00 ea. ÷ 10 Yrs. x Units =$ 0.00 $
HW Heaters . . . . . . . . . @$ 500.00 ea. ÷ 10 Yrs. x Units =$ 0.00 $
Furnace(s) . . . . . . . . . . @$ 3,000.00 ea. ÷ 10 Yrs. x Units =$ 0.00 $
(Other) . . . . . . . . . . . @$ ea. ÷ Yrs. x Units =$ 0.00 $

Roof . . . . . . . . . . . . . . @$ 4,000.00 ÷ 25 Yrs. x One Bldg. = $ 160.00 $

Carpeting (Wall to Wall) Remaining

Life

(Units) 75 Total Sq. Yds. @ $ 20.00 Per Sq. Yd. ÷ 10 Yrs. = $ 150.00 $
(Public Areas) Total Sq. Yds. @ $ Per Sq. Yd. ÷ Yrs. = $ $

Total Replacement Reserves. (Enter on Pg. 1) $ 310.00 $

Operating Income Reconciliation

$ 13,200.00 - $ 1,810.00 =$ 11,390.00 ÷ 12= $ 949.17
Effective gross Income Total Operating Expenses Operating Income Monthly Operating Income

$ 949.17 - $ =$ 949.17
Monthly Operating Income Monthly Housing Expenses Net Cash Flow

(Note: Monthly Housing Expense includes principal and interest on the mortgage, hazard insurance premiums, real estate taxes, mort-
gage insurance premiums, HOA dues, leasehold payments, and subordinate financing payments.)

Underwriter's instructions for 2-4 Family Owner-Occupied Properties

If Monthly Operating Income is a positive number, enter as "Net Rental Income" in the "Gross Monthly Income" section of
Freddie Mac Form 65/Fannie Mae Form 1003. If Monthly Operating Income is a negative number, it must be included as a
liability for qualification purposes.

The borrower's monthly housing expense-to-income ratio must be calculated by comparing the total Monthly Housing Expense
for the subject property to the borrower's stable monthly income.

Underwriter's instructions for 1-4 Family Investment Properties

If Net Cash Flow is a positive number, enter as "Net Rental Income" in the "Gross Monthly Income" section of Freddie Mac
Form 65/Fannie Mae Form 1003. If Net Cash Flow is a negative number, it must be included as a liability for qualification
purposes.

The borrower's monthly housing expense-to-income ratio must be calculated by comparing the total monthly housing expense
for the borrower's primary residence t o t h e b o r r o w e r ' s s t a b l e m o n t h l y i n c o m e .

Appraiser's Comments (including sources for data and rationale for the projections)
The above figures are calculated using middle to lower middle calculations as typically replacement items in a rental home are not higher end products.

Jean E Bennett 07/16/2023

Appraiser Name Appraiser Signature Date

Underwriter's Comments and Rationale for Adjustments

Underwriter Name Underwriter Signature Date

Freddie Mac PAGE 2 OF 2 Fannie Mae

Produced using ACI software, 800.234.8727 www.aciweb.com
Form 998 Aug 88 Form 216 Aug 88
JEAN E. BENNETT CO., LLC.
 COMPARABLE RENTALS PHOTO ADDENDUM
Borrower: Jason Shao File No.: EUCLID~128
Property Address: 128 Euclid Dr Case No.:
City: Evansville State: IN Zip: 47714-0221
Lender: First Bank

COMPARABLE RENTAL #1

4410 E Chestnut St
Evansville, IN 47714

COMPARABLE RENTAL #2

744 Stewart Ave

Evansville, IN 47714

COMPARABLE RENTAL #3

5701 Madison Ave

Evansville, IN 47715
 LOCATION MAP
Borrower: Jason Shao File No.: EUCLID~128
Property Address: 128 Euclid Dr Case No.:
City: Evansville State: IN Zip: 47714-0221
Lender: First Bank

10633 Monticello Drive, Newburgh, IN 47630

Borrower: Jason Shao File No.: EUCLID~128
Property Address: 128 Euclid Dr Case No.:
City: Evansville State: IN Zip: 47714-0221
Lender: First Bank

10633 Monticello Drive, Newburgh, IN 47630

 File No. EUCLID~128

********* QUALIFICATIONS *********

QUALIFICATIONS; JEAN E. BENNETT

POSITION: CERTIFIED RESIDENTIAL APPRAISER
LICENSE #:IN Certified Residential Appraiser #60700710
EDUCATION: University of Southern Indiana ~
Major: Business Administration / Minor: Psychology
Appraisal/Real Estate Classes Completed: (Total 135 hours)
Real Estate Appraisal Principles, Small Income Properties, Market Analysis, Standards of Professional Practice
Education Resource LLC., Indianapolis, IN ~ March 2007 (45 hours)
Income Capitalization for Non-Residential Properties
CONTINUED EDUCATION;
USPAP~June 2022
Viloations~June 2022
Residential Construction & the Appraiser~June 2022
FHA Handbook~June 2022
Market Disturbances~Appraisals in Atypical Markets & Cycles~June 2022
USPAP Update ~ June 2020
Appraising Manufactured Homes ~ June 2020
Evaluations, Desktops & Other Limited Scope Appraisals ~ June 2020
New Construction Essentials ~ June 2020
Appraising Complex Properties ~ June 2020
USPAP Update ~ June 2018
Estate & Divorce Appraisals ~ June 2018
Supporting Adjustments ~ June 2018
Residential Property Inspections ~ June 2018
Avoiding Mortgage Fraud ~ June 2018
New FHA Guidelines ~ June 2016
USPAP Update ~ March 2016
Defensible Practices ~ January 2016
Appraising Green Residences ~ April 2015
FHA Appraising ~ June 2014
USPAP Update ~ June 2014
Env. Issues in Houses ~ May 2014
Coops, Condos & Puds ~ Jan. 2014
USPAP Update ~ June 2012
F.H.A. Appraisals ~ June 2012
Uniform Appraisal Dataset by Fannie Mae & Freddie Mac ~ August 2011
Appraisal Writing ~ June 2010
USPAP Update ~ December 2009
Business Law and Ethics ~ December 2009
Market Conditions Form ~ April 2009
Effective Writing ~ September 2007
Intro. To Income Capitalization ~ February 2007
New Appraisal Report Options ~ September 2006
Liability Management ~ September 2006
Indiana License Law ~ June 2005
USPAP Update ~ March 2005
PROFESSIONAL MEMBERSHIPS:
Evansville Chamber of Commerce ~ Member 2016
Appraisal Institute Evansville Chapter ~ President 2010/2011
Appraisal Institute Evansville Chapter ~ Co Chairman 2009/2010
Women's Council of Realtors ~ Secretary 2009/2010
Tri State Business Alliance ~ Member October 2008
BNI. Professional Business Group ~ Membership Committee Oct. 2007
BNI. Professional Business Group, Member June 2007
Women's Council of Realtors, Member June 2007
Appraisal Institute, Associate Member 2004
VOLUNTEER ORGANIZATIONS:
Warrick Animal Control
Warrick Humane ~ Board of Directors
United Caring Shelter ~ Homeless Shelter
Echo Housing Corp ~ Assisted Housing Transition
Habitat for Humanity
Vand. County Humane Society PAWS volunteer
PAST AREAS OF APPRAISAL SERVICES:
Primary appraisal experience has been in the area of single family home appraisals for lenders, relocation companies, attorneys, brokers and individuals in
counties in Southwestern Indiana, including, but not limited to, Vanderburgh, Warrick, Posey, Dubois, Spencer, and Gibson counties.
EXPERIENCE:
Jean E. Bennett Appraisal Co., LLC. ~ 12/16 - present
David Matthews Associates ~ 7/02 - 12/16
Certified Residential Appraiser, Researcher, prior to appraising ,
research work on appraisals, residential and commercial collection of rental and sales data, assessment and zoning information, demographics, etc.,