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Agenda - 06-06-2023; 8-r - Hurricane Florence Hazard Mitigation Property Acquisition Authorization
1 ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: June 6, 2023 Action Agenda Item No. 8-r SUBJECT: Hurricane Florence Hazard Mitigation Property Acquisition Authorization DEPARTMENT: Emergency Services ATTACHMENT(S): INFORMATION CONTACT: Property Appraisal Report Sarah Pickhardt, 919-245-6135 Offer Letter Kirby Saunders, 919-245-6123 Patrick Mallett, 919-245-2577 Christopher Sandt, 919-245-2583 PURPOSE: To authorize the purchase of a repetitive loss property (503 Brandywine Road) through the Federal Emergency Management Agency's (FEMA) Hazard Mitigation Grants Program. BACKGROUND: On September 14-17, 2018, Hurricane Florence significantly impacted Orange County with torrential rain, high winds, and widespread flooding. As a result, Orange County was included in the list of counties that received a major disaster declaration from FEMA on October 22, 2018. (Disaster Number: 4393-DR-NC). Under this disaster declaration, FEMA awarded Orange County a grant through FEMA's Hazard Mitigation Grant Program for the acquisition of a repetitive loss property. The property authorized for acquisition under the grant is 503 Brandywine Road, Chapel Hill, NC 27514. During Hurricane Florence, floodwater surrounded the home while the family of five was inside. The floodwater then filled the lower level of the home and garage with an estimated one and a half feet of water. The entirety of the first level of the home and garage was destroyed along with the contents. A damage assessment of the home concluded that there was approximately $87,000 in damage to the home and property caused Hurricane Florence. The home has flooded numerous times, causing damage resulting in costly repairs, which deems the property a severe repetitive loss. Through the grant, the County will acquire the property, demolish the structures on site, and return the property to green space. The County has accepted the grant, designated an Applicant's Agent, and created a budget for this project. An appraiser has evaluated the home at a pre-disaster value of$260,000, which is the amount noted on the attached offer letter. FINANCIAL IMPACT: FEMA provides Hazard Mitigation Grants Program funding up to 75% of total project costs, with the remaining 25% coming from the applicant. North Carolina Emergency Management (NCEM) has provided the 25% share for counties. There is no financial impact to the County. 2 SOCIAL JUSTICE IMPACT: The following Orange County Social Justice Goals are applicable to this item: • GOAL: ENSURE ECONOMIC SELF-SUFFICIENCY The creation and preservation of infrastructure, policies, programs and funding necessary for residents to provide shelter, food, clothing and medical care for themselves and their dependents. • GOAL: CREATE A SAFE COMMUNITY The reduction of risks from vehicle/traffic accidents, childhood and senior injuries, gang activity, substance abuse and domestic violence. This project has a positive social justice impact by relocating residents from a hazard prone area. The owners of this property are voluntarily committing to the acquisition process, as required by federal law. ENVIRONMENTAL IMPACT: The following Orange County Environmental Goal impact is applicable to this item: • RESULTANT IMPACT ON NATURAL RESOURCES AND AIR QUALITY Assess and where possible mitigate adverse impacts created to the natural resources of the site and adjoining area. Minimize production of greenhouse gases. The structures on the property will be demolished and the property returned to green/natural space under a 100 year deed. All aspects of both projects; including but not limited to debris removal, will follow all federal, state, and local environmental and historic regulations. RECOMMENDATION(S): The Manager recommends that the Board approve the purchase of the property and authorize the Manager to sign the attached offer for $260,000 as well as any additional future documents required to complete the transaction. Deborah Vaughan 3 Uniform Residential Appraisal Report File# BAG 180 The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property. Property Address 503 Brandywine Rd City Chapel Hill State NC Zip Code 27516 Borrower Michele L.and Adam S. English Owner of Public Record Michele L.and Adam S. English County Orange Legal Description P/O 11 &12 BL O Sec 3 Heritage Hills Subdivision PB 15/179 Assessor's Parcel# 9777206348 Tax Year 2018 R.E.Taxes$ 2,816 Neighborhood Name Heritage Hills Map Reference 51508 Census Tract 0107.10 Occupant ® Owner ❑ Tenant ❑ Vacant Special Assessments$ 0 ❑ PUD HOA$ O ❑ per year ❑ per month Property Rights Appraised X Fee Simple ❑ Leasehold ❑ Other(describe) Assignment Type ❑ Purchase Transaction ❑ Refinance Transaction ® Other(describe) Estimate market value as of 09/12/2018 Lender/Client Heather Apgar,CFMT Address 6 Century Drive Suite 300 Parsippany, NJ 07054 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? ❑ Yes ® No Report data source(s)used,offering price(s),and date(s). Tax Records The current owners purchased the subject property in May 2013 for$200,000 per Orange County Tax Records. I ❑ did ❑ did not analyze the contract for sale for the subject purchase transaction.Explain the results of the analysis of the contract for sale or why the analysis was not performed. Contract Price$ Date of Contract Is the property seller the owner of public record? ❑Yes ❑No Data Source(s) 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 ❑ No If Yes,report the total dollar amount and describe the items to be paid. Note:Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood Characteristics One-Unit Housing Trends 16 One-Unit Housing Present Land Use% Location ❑ Urban ® Suburban ❑ Rural Property Values ® Increasing ❑ Stable ❑ Declining PRICE AGE One-Unit 65% Built-Up ❑ Over 75% ® 25-75% ❑ Under 25% Demand/Supply X Shortage ❑ In Balance ❑ Over Supply $(000) (yrs) 2-4 Unit % Growth ❑ Rapid ® Stable ❑ Slow Marketing Time ® Under 3 mths ❑ 3-6 mths ❑ Over 6 mths 150 Low 0 Mufti-Family % Neighborhood Boundaries The subject boundaries are defined as Highway 54 to the North Mt Carmel 1,300 High 45 Commercial 5% Church Road to the East Manns Chapel Road to the South and Jones Ferry Road to the West. 490 Pred. 12 Other Vac 30% Neighborhood Description The subject property is located in the Heritage Hills Subdivision off Smith Level Road in Southern Chapel Hill NC.The sub'ect is located in an established subdivision offering single family detached dwellings built from 1965 to the 1970's.The subdivision is located in close proximity to Highway 15-501 University of North Carolina at Chapel Hill schools shopping and employment. Market Conditions(including support for the above conclusions) The subject's marketing area offersgood appeal and demand. Due to current market supply and overall economy,the growth rate and property values have tended to improve. Dimensions See attached plat map Area .49 ac Shape Irregular View Residential Specific Zoning Classification RB Zoning Description Rural Buffer Zoning Compliance ® Legal ❑ Legal Nonconforming(Grandfathered Use) ❑ No Zoning ❑ Illegal(describe) Is the highest and best use of subject property as improved(or as proposed per plans and specifications)the present use? ® Yes ❑ No If No,describe Utilities Public Other(describe) Public Other(describe) Off-site Improvements-Type Public Private Electricity ® ❑ Water ® ❑ Street Asphalt ® ❑ Gas X ❑ Sanitary Sewer ® ❑ Alley None ❑ ❑ FEMA Special Flood Hazard Area ® Yes ❑ No FEMA Flood Zone AE FEMA Map# 37135C9777K FEMA Map Date 11/17/2017 Are the utilities and off-site improvements typical for the market area? X Yes ❑ No If No,describe Are there any adverse site conditions or external factors(easements,encroachments,environmental conditions,land uses,etc.)? X Yes ❑ No If Yes,describe The subject property is located in a 100 Year Flood Plain zone.There is a creek at the rear and right side of property.There were no adverse easements or encroachments observed on subject site.An accurate survey is recommended. General Description Foundation Exterior Description materials/condition Interior materials/condition Units ® One ❑ One with Accessory Unit ® Concrete Slab ® Crawl Space Foundation Walls Cnc/Brk/Blk-Av Floors HW/Tile/Vin I-Av #of Stories 3 ❑ Full Basement ❑ Partial Basement Exterior Walls BV/Cedar-Avg Walls DW-Avg Type ® Det. ❑ Att. ❑ S-Det./End Unit Basement Area O sq.ft. Roof Surface As hSh I-Av Trim/Finish Wood-Avg ® Existing ❑ Proposed ❑ Under Const. Basement Finish % Gutters&Downspouts Aluminum-Avg Bath Floor Tile-Avg Design(Style) SpItl_vI/Avq Outside Entry/Exit ❑ Sump Pump Window Type DH-Avq Bath Wainscot Tile-Avg Year Built 1976 Evidence of ❑ Infestation Storm Sash/insulated Yes/Yes-Avg Car Storage ❑ None Effective Age(Yrs) 20 ❑ Dampness ❑ Settlement Screens Yes-Avg ® Driveway #of Cars 1 Attic ❑ None Heating ® FWA JE HWBB ❑ Radiant Amenities ❑Woodstove(s)# 0 Driveway Surface Concrete ® Drop Stair ❑ Stairs ❑ Other I Fuel Gas ® Fireplace(s)# 1 ® Fence Rear ® Garage #of Cars 1 ❑ Floor ❑ Scuttle Cooling X Central Air Conditioning ® Patio/Deck Patio X Porch Front ❑ Carport #of Cars 0 ❑ Finished ❑ Heated ❑ Individual ❑ Other ❑ Pool None ® Other ScrPch IX Att. ❑ Det. ❑ Built-in Appliances ❑ Refrigerator ® Range/Oven ® Dishwasher ® Disposal ® Microwave ❑ Washer/Dryer ❑ Other(describe) Finished area above grade contains: 8 Rooms 4 Bedrooms 2.1 Bath(s) 1 860 Square Feet of Gross Living Area Above Grade . Additional features(special energy efficient items,etc.). FrontPorch; hardwood floors; masonry fireplace on lower level;tile floorin •stainless steel appliances;attached one car garage;screenporch;patio; partially fenced rear yard. Describe the condition of the property(including needed repairs,deterioration,renovations,remodeling,etc.). See attached addendum for updates to subject property.The subject property offers a split level design with all three floors included in the totalsquare footage. 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 Does the property generally conform to the neighborhood(functional utility,style,condition,use,construction,etc.)? ® Yes ❑ No If No,describe Freddie Mac Form 70 March 2005 Page 1 of 6 Fannie Mae Form 1004 March 2005 Form 1004-"TOTAL"appraisal software by a la mode,Inc.-1-800-ALAMODE 4 Uniform Residential Appraisal Report File# BAG 180 There are N/A comparable properties currently offered for sale in the subject neighborhood ranging in price from $ N/A to$ N/A There are N/A comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ N/A to$ N/A FEATURE I SUBJECT COMPARABLE SALE#1 COMPARABLE SALE#2 COMPARABLE SALE#3 Address 503 Brandywine Rd 613 Yorktown Dr 607 Yorktown Dr 403 Yorktown Dr Chapel Hill NC 27516 Chapel Hill NC 27516 Chapel Hill NC 27516 Chapel Hill NC 27516 Proximity to Subject 0.08 miles SW 0.10 miles S 0.33 miles E Sale Price $ $ 321,445 $ 270,000 $ 310,000 Sale Price/Gross Liv.Area $ sq.ft. $ 156.34 sq.ft. $ 153.58 sq.ft. $ 140.21 sq.ft. Data Source(s) TMLS#2197109 TMLS#2177653 TMLS#2196389 Verification Source(s) Broker/Tax Rec/Site Broker/Tax Rec/Site Broker/Tax Rec/Site VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +()$Adjustment DESCRIPTION +()$Adjustment DESCRIPTION +()$Adjustment Sales or Financing Conv-None Cash-Seller Pd -6,100 Conv-None Concessions Known Concessions Known Date of Sale/Time Clsd:07/2018 Clsd:04/2018 +5,000 Clsd:08/2018 Location Heritage Hills Heritage Hills Heritage Hills Heritage Hills Leasehold/Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple Site .49 ac/FldPlain .52 ac/Super. -48,000 .48 ac/Super. -41,000 .48 ac/Super. -47,000 View Residential Residential Residential Residential Design(Style) S ItLvl/Av S ItLvl/Av S ItLvl/Av S ItLA/Av Quality of Construction Average Average Average Average Actual Age 47 46 048 052 0 Condition Avera a Avera a Avera a Avera e Above Grade Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Room Count 8 4 2.1 9 4 2.1 0 9 1 4 3.0 -4,000 10 4 2.1 0 Gross Living Area 1,860 sq.ft. 2,056 sq.ft. -7,800 1,758 sq.ft. +4,1100 2,211 sq.ft. -14,000 Basement&Finished Osf Osf Osf Osf Rooms Below Grade Functional Utility Average Average Average Average Heating/Cooling FWA/CAC FWA/CAC FWA/CAC FWA/CAC Energy Efficient Items Storm Windows Similar 0 Similar 0 Similar 0 Garage/Carport 1 Car Garage No Garage +5,000 1 Car Garage No Garage +5,000 Porch/Patio/Deck Pch Pat ScrPch St Patio Deck +4000 Porch Patio +5,000 Porch Patio Dk +3,000 • Extras 1 Fireplace 1 Fireplace No Fireplace +2,000 1 Fireplace Extras Attic/PDS Similar 0 Similar 0 Similar 0 Extras Fence None +2,000 None +2,000 None +2,000 • Net Adjustment(Total) E1 + ® - $ -44,800 ❑ + ® - $ -33,000 ❑ + ® - $ -51,000 Adjusted Sale Price Net Adj. 13.9% Net Adj. 12.2% Net Adj. 16.5% of Comparables I Gross Adj. 20.8%1$ 276,645 Gross Adj. 25.6% $ 237,0001 Gross Adj. 22.9% $ 259,000 1 ® did ❑ did not research the sale or transfer history of the subject property and comparable sales.If not,explain My research ❑ did ® 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) Orange County Tax Records My research ❑ did ® 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) Orange County Tax Records/MLS 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#1 COMPARABLE SALE#2 COMPARABLE SALE#3 Date of Prior Sale/Transfer Price of Prior Sale/Transfer Data Source(s) -Orange County Tax Record Orange County Tax Record Orange County Tax Record Orange County Tax Record Effective Date of Data Source(s) 03/16/2023 03/16/2023 03/16/2023 03/16/2023 Analysis of prior sale or transfer history of the subject property and comparable sales The current owners purchased the sub'ect property in May 2013 per Orange County Tax Records.There have been no known listing or sales transactions on the sub'ect property within the past three years. Summary of Sales Comparison Approach The four sales are all located in the sub'ect subdivision and are considered the most recent similar sales available.The time ad'ustments reflect the increasing marketinq conditions in the sub'ect area and reflect an approximate one percent per quarter over the past year.The site ad'ustment reflects the sub'ect property being in a flood plain zone with flood insurance needed.The design ad'ustments reflect the market's preference for ranch and two story style dwellings.The indicated value range is considered reasonable with all sales given consideration reasonable with all sales given consideration. Indicated Value by Sales Comparison Approach$ 260,000 Indicated Value by:Sales Comparison Approach$ 260,000 Cost Approach(if developed)$ Income Approach(if developed)$ The Sales Comparison Approach is considered to be the best indicator of market value.The Income Approach was not utilized due to lack of rental properties in the area.The purpose of this appraisal report is to estimate the value of the sub'ect property as of 09/12/2018.The sub'ect propertywas inspected on 03/16/2023. This appraisal is made ® "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: 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 $ 260,000 ,as of 09/12/2018 which is the date of inspection and the effective date of this appraisal. Freddie Mac Form 70 March 2005 Page 2 of 6 Fannie Mae Form 1004 March 2005 Form 1004-"TOTAL"appraisal software by a la mode,Inc.-1-800-ALAMODE 5 Uniform Residential Appraisal Report File# BAG 180 Extraordinary Assumption:This appraisal is based on the assumption that the subject property offered average condition as of the effective date of this report 09/12/2018 .The subject property was inspected on 03/16/2023. The appraiser is not a home inspector and the appraisal does not guarantee that the property is free of defects or environmental problems.this appraisal is based on an observation of visible and accessible areas only.The appraiser is not qualified to determine the cause of any mold that may be present,type of mold or any risk to property or inhabitants.An expert in these fields should be consulted. This appraisal report was prepared for the sole intended use of the client. The report was signed with a digital signature.The digital signatures are password protected to ensure the integrity of the report and cannot be altered once the signature is affixed.This report contains digital photographs of the subject property and comparable sales.Some of the comparable sales photos may have been taken from multiple listing photo files. Definition of Market Value: *This definition is from regulations published by federal regulatory agencies pursuant to Title XI of the Financial Institutions Reform Recovery, and Enforcement Act FIRREA Federal Reserve System,National Credit Union Administration Federal Deposit Insurance Corporation. 12CFR225.62 • Highest and Best Use: The sub'ect property is a legally ermissable use based on its current zoning.Also the lot size shape and land-to-building ratio allow the present structure and indicate a good utilization of the improvements. Based on current market conditions the existing structure as a single family residence is its financially feasible and maximally productive use.The highest and best use as if vacant would be to construct a single family residence. 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) ESTIMATED ❑ REPRODUCTION OR ❑ REPLACEMENT COST NEW OPINION OF SITE VALUE =$ Source of cost data DWELLING Sq.Ft.@$ =$ Quality rating from cost service Effective date of cost data Sq.Ft.@$ =$ Comments on Cost Approach(gross living area calculations,depreciation,etc.) =$ Due to thea a of the subject property,the Cost Approach was not Garage/Carport Sq.Ft.@$ =$ utilized. Total Estimate of Cost-New =$ Less Physical Functional External Depreciation =$( ) Depreciated Cost of Improvements --------------------------- =$ "As-is"Value of Site Improvements --------------------------_ Estimated Remaining Economic Life(HUD and VA only) Years I INDICATED VALUE BY COST APPROACH _______________________ =$ INCOME APPROACH TO VALUE(not required by Fannie Mae) Estimated Monthly Market Rent$ X Gross Rent Multiplier =$ Indicated Value by Income Approach Summary of Income Approach(including support for market rent and GRM) The Income Approach was not utilized due to lack of rental properties in the subject area. 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 Total number of units rented Total number of units for sale Data source(s) Was the project created by the conversion of existing buildings)into a PUD? ❑ Yes ❑ No If Yes,date of conversion. Does the project contain any multi-dwelling units? ❑ Yes ❑ No Data Source 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 Page 3 of 6 Fannie Mae Form 1004 March 2005 Form 1004-"TOTAL"appraisal software by a la mode,inc.-1-800-ALAMODE 6 Uniform Residential Appraisal Report File# BAG 180 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 the 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 Page 4 of 6 Fannie Mae Form 1004 March 2005 Form 1004-"TOTAL"appraisal software by a la mode,inc.-1-800-ALAMODE 7 Uniform Residential Appraisal Report File# BAG 180 APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: 1. 1 have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report. 2. 1 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. 1 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. 1 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. 1 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. 1 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. 1 selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property. 8. 1 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. 1 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. 1 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. 1 have knowledge and experience in appraising this type of property in this market area. 12. 1 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. 1 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. 1 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. 1 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. 1 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. 1 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. 1 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. 1 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. Freddie Mac Form 70 March 2005 Page 5 of 6 Fannie Mae Form 1004 March 2005 Form 1004-"TOTAL"appraisal software by a la mode,inc.-1-800-ALAMODE 8 Uniform Residential Appraisal Report File# BAG 180 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). 22. 1 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. 1 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. 1 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 SUPERVISORY APPRAISER (ONLY IF REQUIRED) r:;-- Signature O Signature Name Deborah Vaughan ���FNnA AQP Name Robert M. Birch Company Name Birch Appraisal Group Company Name Birch Appraisal Group '%•a.. Company Address 1042 Washington Street, Raleigh.NC 27605 Company Address 1042 Washington Street, Raleig 5 Telephone Number (919)833-2075 Telephone Number (919)833-2075 Email Address divaughan50(a)outlook.com Email Address rmbirch(a)birchappraisal.com Date of Signature and Report 04/04/2023 Date of Signature 04/04/2023 Effective Date of Appraisal 09/12/2018 State Certification# A822 State Certification# A4284 or State License# or State License# State NC or Other(describe) State# Expiration Date of Certification or License 06/30/2023 State NC Expiration Date of Certification or License 06/30/2023 SUBJECT PROPERTY ADDRESS OF PROPERTY APPRAISED F-1 Did not inspect subject property 503 Brandywine Rd ❑ Did inspect exterior of subject property from street Chapel Hill, NC 27516 Date of Inspection APPRAISED VALUE OF SUBJECT PROPERTY$ 260,000 ® Did inspect interior and exterior of subject property LENDER/CLIENT Date of Inspection 03/16/2023 Name COMPARABLE SALES Company Name Heather Apgar, CFMT Company Address 6 Century Drive Suite 300, Parsippany, NJ X Did not inspect exterior of comparable sales from street 07054 E] Did inspect exterior of comparable sales from street Email Address Date of Inspection Freddie Mac Form 70 March 2005 Page 6 of 6 Fannie Mae Form 1004 March 2005 Form 1004-"TOTAL"appraisal software by a la mode,inc.-1-800-ALAMODE 9 Uniform Residential Appraisal Report File# BAG 180 FEATURE SUBJECT COMPARABLE SALE# 4 COMPARABLE SALE# 5 COMPARABLE SALE# 6 Address 503 Brandywine Rd 506 Brandywine Rd Chapel Hill, NC 27516 Chapel Hill NC 27516 Proximity to Subject 0.06 miles NW Sale Price $ $ 330,207 $ $ Sale Price/Gross Liv.Area $ sq.ft. $ 119.12 sq.ft.1 $ sq.ft. $ sq.ft. Data Source(s) TMLS#2176451 Verification Source(s) Broker/Tax Rec/Site VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +()$Adjustment DESCRIPTION +()$Adjustment DESCRIPTION +()$Adjustment Sales or Financing Conv-Seller Pd +2,000 Concessions Concessions Date of Sale/Time CIsd:04/2018 +7,000 Location Heritage Hills Heritage Hills Leasehold/Fee Simple Fee Simple Fee Simple • Site .49 ac/FldPlain .34 ac/Super. -50,000 View Residential Residential Design(Style) S ItLvl/Av 2 Sty/Superior -10,000 • Quality of Construction Average Average Actual Age 47 47 Condition Avera a Avera e Above Grade Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Room Count 8 4 2.1 10 4 3.0 -4,000 Gross Living Area 1,860 sq.ft. 2,772 sq.ft. -36,500 sq.ft. sq.ft. Basement&Finished Osf Osf Rooms Below Grade Functional Utility Average Avera e Heating/Cooling FWA/CAC FWA/CAC Energy Efficient Items Storm Windows Similar 0 Garage/Carport 1 Car Garage No Garage +5,000 Porch/Patio/Deck Pch Pat ScrPch Porch ScrPh +11,000 Extras 1 Fireplace 1 Fireplace Extras Attic/PDS Similar 0 Extras Fence None +2,000 Net Adjustment(Total) E1 + ® - $ -83,500 ❑ + ❑ - $ ❑ + ❑ - $ Adjusted Sale Price Net Adj. 25.3 % Net Adj. % Net Adj. % of Comparables Gross Adj. 35.6 %1$ 246,707 Gross Adj. % $ 1 Gross Adj. % $ 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# 4 COMPARABLE SALE# 5 COMPARABLE SALE# 6 Date of Prior Sale/Transfer Price of Prior Sale/Transfer Data Source(s) Orange County Tax Record Orange County Tax Record Effective Date of Data Source(s) 03/16/2023 03/16/2023 Analysis of prior sale or transfer history of the subject property and comparable sales Analysis/Comments Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005 Form 1004.(AC)-"TOTAL"appraisal software by a la mode,Inc. 1-800-ALAMODE Improvements to Subject Property File No.BAG 180 10 Brg rawer Michele L. and Adam S. English Properly Address 503 Brandywine Rd City Chapel Hill County Oran a State NC Zip Code 27516 Lender Client Heather Apgar,CFMT The current owners completed the following updates to the subject property prior to 09/12/2018: New stainless steel appliances New toilets Cleaned outside siding New tile in master bath (shower and floor)and new vanity New tile flooring on first level Removed popcorn ceiling on first level New paint on first level New light fixtures on first level Renovated Laundry/Half bath with built in custom cabinets and built in laundry folding area/shelf Refinished rear porch and rebuilt/painted porch stairs New Hot Water Heater Updated HVAC Form SUP-"TOTAL"appraisal software by a la mode,inc.-1-800-ALAMODE 11 Deed - Page 1 11101110014di llld1�111J llllll IIlI 20130530000129330 DEED r�ti Bk:RB5616 Pg:500 05!9012013 12.01:53 PM 112 FILED Deborah B. Brooks 1 Registerof Deeds, Orange Cc,NC i Recordn Fee. $26.00 5V0 NC Reastate TX $400 0o 5 NORTH CAROLINA GENERAL WARRANTY DEED Excise Tax: $400.00 Parcel Identifier No. 9777-20-6348 Verified by County on the day of 20_ By: This instrument was prepared by: Alexander,Miller&Schupp,L.L-F.without benefit of title examination Grantee's address(return to): 503 Brandywine Road,Chapel Hill,NC 27514 T7F THIS DEED is made this 20) day of May, 2013, by and between GRANTOR GRANTEE MARGARET F.HUDSON,a single person MICHELE LYNN ENGLISH and ADAM SHERWOOD ENGLISH,a married couple The designation Grantor and Grantee as used herein shall include said parties, their heirs, successors, and assigns, and shall include singular, plural, masculine,feminine or neuter as required by context. WITNESSETH, that the Grantor, for a valuable consideration paid by the Grantee, the receipt of which is hereby acknowledged, has and by these presents does grant, bargain, sell and convey unto the Grantee in fee simple, all that certain lot or parcel of land situated in Orange County, North Carolina and more particularly described as follows: Tract L BEGINNING at the Southwest corner of Lot 11, Block O, according to the map hereinafter referred to; thence with the Northern line of Lot 14 North 67 deg_ 00' West 54.75 feet to a point; the Northwest corner of Lot 14; thence North 23 deg. 00' East 11.04 feet to a point, a new corner; thence North 36 deg. 14' 25" West 153.59 feet to a point in the Southern edge of the right of way of Brandywine Road, thence in an easterly direction with the curve of said right of way of Brandywine Road South 57 deg. 00' East 48.47 feet to a point(which point lies North 67 deg. 00' West 6.28 feet from the Northwest corner of Lot 11, Block O), as shown on the map hereinafter referred to; running thence South 23 deg.00' West 78 50 feet to a point; running thence South 06 deg. 12'40"West 21.74 feet to a point in the line of Lot 11; running thence South 23 deg, 00"West 60.72 feet to t00054464.DOC I NC Bar Association Form No. 3 Cc 1976,Revised @ 1977,2002 Printed by Agreement with the NC Bar Association-1981 Book 56'16 Form SCNLGL-"TOTAL"appraisal software by a la mode,inc.-1-800-ALAMODE 12 Deed - Page 2 ' II�I��I�������������IIIIIII 1111111 III RB5616 501 212 the BEGINNING, being the greater portion of Lot 12, Block O of Section 3 of Heritage Hills Subdivision according to map recorded in Plat Book 15, Page 179, Orange County Registry, North Carolina. Tract II: BEGINNING at a point in the Northern line of Lot 14, Block 0 according to the recorded map hereinafter referred to, said point being between Lots 11 and 12, Block 0; thence along the dividing line to a paint in said dividing line; thence a new line through Lot 11, Block O, South 06 deg. 12'40"West 63.42 feet to a point in the Northern line of Lot 14, Block 0, thence along said Northern line North 67 deg. 00'West 18.32 feet to the point and place of beginning, and being a small triangular portion of Lot 11, Block 0, Heritage Hills Subdivision, Section 3, recorded in Plat Book 15, Page 179, Orange Country Registry. This conveyance is made subject to restrictive covenants recorded in Book 210, Page 794, Orange County Registry, and all easements and rights of way of record. Being the same property acquired by Grantor by instrument recorded in Book 343, Page 94, Orange County Registry. It is the intention of the Grantor that these tracts remain one parcel(PIN 9777-20-6348). TO HAVE AND TO HOLD the aforesaid lot or parcel of land and all privileges and appurtenances thereto belonging to the Grantee in fee simple. And the Grantor covenants with the Grantee, that Grantor is seized of the premises in fee simple, has the right to convey the same in fee simple, that title is marketable and free and clear of all encumbrances, and that Grantor will warrant and defend the title against the lawful claims, excepting ad valorem taxes for the current year, restrictive covenants of record affecting the property, utility easements and rights of way of record, of all persons whomsoever. IN WITNESS WHEREOF,the Grantor has duly executed the foregoing as of the day and year first above written. (SEAL) Address: 750 Weaver Dairy Road,Apt. 197 MAFIGARIiT F. HUDSON Chapel Hill, NC 27514 Pursuant to N.C.G.S.§105-317.2,the Seller/Grantor states as follows: The property conveyed herein incfudes the primary residence of one or more of the Grantors. Each Grantor's address is provided above. ©1124 t� County, North Carolina I hereby certify that personally appeared before me each acknowledging to me that he or she voluntarily signed the foregoing document 7,-/ pur a stated the the capacity indicated: MARGARET F. HUDSON. Date ��Z`3//3 7 Notary Public Printed Name of Notary Public (Off i ' y commission expires: (a 2 t 3 ROBERT N,MAITIAND II NOTARY PUBLIC ORANGE COUNIY,NIC ,MY COMMISSION EXPIRES OCTOBER 28,2013 (00054464.DOC)NC Bar Association Form No. 3 0 1476,Revised C 1477,2002 Printed by Agreement with the NC Bar Association-1981 Book 5616 Form SCNLGL-"TOTAL"appraisal software by a la mode,inc.-1-800-ALAMODE 13 Plat UNINERS91 OF NORTH WOL144 O-T. COLE We Ast-1-a i640d 917D, —'10216� 110.0 111 drASaRN, 2N Or QO0 + rV n d ! p4r 4E N° ? 26 a . 0 Ova , Y e N y45 4 IngU5 Y O.r CURVE DATA NINa 6 1 INOIV! 71NVEN7 ANGiN 4 �y cA O r 9 1 r a; G3Q ceaQd mlur n1e.la" WIN, ¢ °. pv o 14 , ' o-5s N1°w banad 444¢1' 161m, @ yd ". '4° V 13 �r�o vn Bb 0 o LEGEND ria rW°-Od !0.W' d Is7.0e' " { r' 0 [-33 1a°•[d 73iW' !£!.T' 44444` p Y '9i ap Y r0,[a1bL • �4 � IZ� P 34 11400' 113.10' "'00 54148 0 Q t Y 1�1 Q =" YEIi 1 pr r Oy ®,mom ca! 3avad 1421d 1e4g0' 344.1!' rF �. ,y+`' a�•t N � �` rd °a. y $r . IJI s3°•Hd Ilan' 19r.rY 41Ne4' J .+Y � ry Q p�; 1 `3ul �.rz �• 6� ae 4,+ Sii lIIN-Z!' 50.70' a1z93' W +++9Y" ° � _ G u r t,d !£'�//+'''a}••��,��1I lJ 1 gip©G. 0`s1 37°-9' 7x1.11 110.OD 212.00' .ry C 3 . lawIW.M' -c sau1 0`y° I Gt5 11 as ,�UyI°,rj @ 16'i,Tf 7lzdx'I 31,93' "x3.13 F °� Q\ j1 N°O'00 OF�C'�.1 11Qpp• 0 36 k�p pA° vp u P� j 1 4! arr n 71 y' 00 70 0104 !BI q'. 4 IO 3 a °.°° "W, !" V d. ,do• G q41/°Y�odM1 ! a+, O !Y el L sill We 9 � !¢ i. '� +2Q I'"�! i [_A •+ �—'-"p a0° rORkr .3 O� • '! '1+. is ,Iv 7)a.o o L S ".4r1.. oM°tlp' Jf 3 o r f 4 j 4 O N � 019 a0 • r a;s 1 1 I2r 14° Z y.+. a1r COh3l rg0'0°'1 °i 3 4"� Nana!0 4 1 r yL 7)) e 13!114 c1YxI1Y�4©""N1'[� /. 1j' I U pt • W\\1�"�!f MFtt n3g13M• CMN,+ 11HERITAGE HILLS" �QR21 'SECTION M!, CON,, Do. -,DaN4l. �rl�M ..'ATO Yr F°u V°W IS.Lv.�•• PROPERTY OF RCBERTS CONSTRUCTION COMPANY %4• ,�a�, n�erl a 114EN1 d£a4mr vnm vNFs3N 41111v.}6r4c t+,�[un•-4,3:Is::�. a� wu N4 E1Id Lm n pgphl hm n LGd"NNI 11 u ad: 1 -_ - ,..,_ GHAPEL HILL TWF CR4HGE CC.,N.C.4c b ale _ IYlndlkaV,4PM lr.:m fjp7 ed�mse�mmi d SCALE I": Od DEC- 1366;na CREOLE ENGINEERING COMPANY ula� DURHAM,N.C. -J c w° ,QQ a°0 400 wv w° rag 1 Y III 0 ���YI u 4967091100932351 C 151179 BA 15 Form SCNLGL "TOTAL"appraisal software by a la mode,inc.-1-800-ALAMODE 14 Plat Orange County f ft f`J f 503 BRANDYWINERD, GG,NG,2751 t� r 2023 This map contains parcels prepared for the inventory of real property within Orange County,and Is compiled from recorded deed,plats,and other public records and date. Users of this map are hereby notified that the aforementioned public primary Information sources should he consulted forverificetion of the information contained on this map. PIN: 97772M48 The county and Its mapping court panles assume no legal responsibility forthe Information on this map. OWNER 1: ENGLISH MICHELE L SIZE: Q.49A BUILDING COUNT: 1 1:600 OWNER2: ENGLISH ADAM S DEED REF: 5616/500 LAND VALUE: $82,500 0 x005 0.01 0.02 mi ADDRESS 1: 503 BRANDYWINE RD RATECODE: 04 BLDG VALUE: $154,500 ADDRESS 2: TOWNSHIP CHAPELHILL USE VALUE: $0 0 a0075 0.015 0.0 Ion CITY: Chapel Hill BLDG SQFT: 1888 TOTAL VALUE: $237,000 t,�s STATE,ZIP: NC 27514 YEAR BUILT. 1971 DATE SOLD: 05/29/2013 ORANGE COUNTY LEGAL DESC: PIO 11&12 BL O SEC 3 HERITAGE HILLS P151179 TAX STAMPS: 400 NIDRTli C-AROLIN IA Form SCNLGL-"TOTAL"appraisal software by a la mode,inc.-1-800-ALAMODE 15 eA N � , r Form SCNLGL-"TOTAL"appraisal software by a la mode,inc.-1-800-ALAMODE • Borrower Property r -. City Chapel Hill County Orange State NC Zip Code Apgar,Lender/Client Heather •t. {y ° •� F. SUBIECT -andywine Rd 5D3 Bi F} 'I 4"�•3 _ ��e�-_ �I rte' '� �•�'-s..A ♦ � - `4 -, �° 190f �o 'O = '4 r JuiA AL Ot I � o ����e fit.: Al,l' to ti �rFf.7 t _i i 17 Location Map Borrower Michele L.and Adam S. English Property Address 503 Brandywine Rd City Chapel Hill County Orange State NC Zip Code 27516 Lender/Client Heather Apgar, CFMT NIVI I"VI u a la mode, inc. �C�- ki.3-L�j A D 0 I/A WL-sl Merritl's Pasturc-l? SOUTHERN Dogwood VILLAGE Arrpq SUBJECT 503 Brandywine Rd squiherri _ur7 uju n i lv LCOOMPARABILE No. 4 purl�. Br 506 B=Ftdywine Rd miles 0.06 mile-5 NW Shuthern Cornrriunily aye Dug P:jr'[ COMPARABLE No. I COMPARABLE No. 3 613 Yorktvwn Dr 403 Yorkt6vn Dr 0.0-8 miles SW 0.33 miles E txaaI CUMFVARABLE No. 507Yorktown Dr 0,20 2 miles S 1574 74� %,Ia,p data. J22 Gnogie 2O9G L——————i Tama mfUEe: Form MARLOC-"TOTAL"appraisal software by a la mode,inc.-1-800-ALAMODE 18 Building Sketch Borrower Michele L.and Adam S. English Property Address 503 Brandywine Rd City Chapel Hill County Orange State NC Zip Code 27516 Lender/Client Heather Apgar, CFMT 23' Master Master Bath Bedroom Bath 00 C rn _ N Bedroom Bedroom 23' 17.2' Screen Porch v N W 23.8' 17.2' 23' 14' Dining Kitchen Bath (half) Bedroom N 00 pp Garage N N Lf N _ N Living Family 14' 23.8' 23' TOTAL sketch by a la mode,Inc. Area Calculations Summary Living Area Calculation Details First Floor 593.4 Sq ft 25.8 x 23 = 593.4 Second Floor 685.4 Sq ft 29.8 x 23 = 685.4 Concrete Patio 580.72 Sq ft 24.4 x 23.8= 580.72 Total Living Area(Rounded): 1860 Sq ft Non-living Area 1 Car Attached 319.2 Sq ft 22.8 x 14 = 319.2 Screened Porch 211.56 Sq ft 17.2 x 12.3 = 211.56 Form SKT.BLDSKI-"TOTAL"appraisal software by a la mode,inc.-1-800-ALAMODE 19 Subject Photo Page Borrower Michele L.and Adam S. English Property Address 503 Brandywine Rd City Chapel Hill County Orange State NC Zip Code 27516 Lender/Client Heather Apgar, CFMT `* Subject Front n 503 Brandywine Rd G S K Sales Price M Gross Living Area 1,860 Total Rooms 8 ti Total Bedrooms 4 Total Bathrooms 2.1 Location Heritage Hills �r View Residential Site .49 ac/FldPlain Quality Average _ Age 47 0. "_ -- -.p Subject Rear .K u i Subject Street r. - 9 Y Form PICPIX.SR-"TOTAL"appraisal software by a la mode,inc.-1-800-ALAMODE 20 Photograph Addendum Borrower Michele L.and Adam S. English Property Address 503 Brandywine Rd City Chapel Hill County Orange State NC Zip Code 27516 Lender/Client Heather Apgar, CFMT - d ®E1 -.D , I J, e f t I ASF y1 .t Form PICSIX2-"TOTAL"appraisal software by a la mode,inc.-1-800-ALAMODE 21 Photograph Addendum Borrower Michele L.and Adam S. English Property Address 503 Brandywine Rd City Chapel Hill County Orange State NC Zip Code 27516 Lender/Client Heather Apgar, CFMT - _ f fr 3 ' r r i p Form PICSIX2-"TOTAL"appraisal software by a la mode,inc.-1-800-ALAMODE 22 Photograph Addendum Borrower Michele L.and Adam S. English Property Address 503 Brandywine Rd City Chapel Hill County Orange State NC Zip Code 27516 Lender/Client Heather Apgar, CFMT I � r .. < �. \ jh, '^ ,. ►X11 — f Y i-i d i ik� a 13 , I ! ♦� t ' mac �'�i� '� � �' � tl::. � � ✓.fit yy �'�y��.{ T � .g �lt Form PICSIX2-"TOTAL"appraisal software by a la mode,inc.-1-800-ALAMODE 23 Photograph Addendum Borrower Michele L.and Adam S. English Property Address 503 Brandywine Rd City Chapel Hill County Orange State NC Zip Code 27516 Lender/Client Heather Apgar, CFMT — + 10 a r� p ' Form PICSIX2-"TOTAL"appraisal software by a la mode,inc.-1-800-ALAMODE 24 Photograph Addendum Borrower Michele L.and Adam S. English Property Address 503 Brandywine Rd City Chapel Hill County Orange State NC Zip Code 27516 Lender/Client Heather Apgar, CFMT d tea , II [11,, teary"" fk r -T, t .. q �;•. SyGq� �' '� �.' A f fi�. Yk ! S - , --JIS t ; i M a Form PICSIX2-"TOTAL"appraisal software by a la mode,inc.-1-800-ALAMODE 25 Comparable Photo Page Borrower Michele L.and Adam S. English Property Address 503 Brandywine Rd City Chapel Hill County Orange State NC Zip Code 27516 Lender/Client Heather Apgar, CFMT Comparable 1 613 Yorktown Dr --- ~r Prox.to Subject 0.08 miles SW Sale Price 321,445 — big Gross Living Area 2,056 Total Rooms 9 . _ Total Bedrooms 4 Total Bathrooms 2.1 Location Heritage Hills View Residential Site .52 ac/Super. Quality Average - Age 46 f¢ - -� . Comparable 2 607 Yorktown Dr Prox.to Subject 0.10 miles S Sale Price 270,000 Gross Living Area 1,758 Total Rooms 9 Total Bedrooms 4 Total Bathrooms 3.0 Location Heritage Hills View Residential Site .48 ac/Super. Quality Average Age 48 `•fid. . . Comparable 3 403 Yorktown Dr Prox.to Subject 0.33 miles E Sale Price 310,000 Gross Living Area 2,211 Total Rooms 10 _._ Total Bedrooms 4 ` Total Bathrooms 2.1 11 RONNIE -;91 Location Heritage Hills View Residential Site .48 ac/Super. Quality Average �' ► Age 52 Form PICHUR-"TOTAL"appraisal software by a la mode,inc.-1-800-ALAMODE 26 Comparable Photo Page Borrower Michele L.and Adam S. English Property Address 503 Brandywine Rd City Chapel Hill County Orange State NC Zip Code 27516 Lender/Client Heather Apgar, CFMT ' Comparable 4 J 506 Brandywine Rd Prox.to Subject 0.06 miles NW 7 Sale Price 330,207 G ` Gross Living Area 2,772 q��` , Total Rooms 10 Total Bedrooms 4 Total Bathrooms 3.0 =, Location Heritage Hills View Residential Site .34 ac/Super. Quality Average u-:N Age 47 Comparable 5 Prox.to Subject Sale Price Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location View Site Quality Age Comparable 6 Prox.to Subject Sale Price Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location View Site Quality Age Form PICPIX.CR-"TOTAL"appraisal software by a la mode,inc.-1-800-ALAMODE 27 USPAP ADDENDUM File No. BAG 180 Borrower Michele L. and Adam S. English Property Address 503 Brandywine Rd City Chapel Hill County Orange State NC Zip Code 27516 Lender Heather Apgar CFMT This report was prepared under the following USPAP reporting option: ® Appraisal Report This report was prepared in accordance with USPAP Standards Rule 2-2(a). ❑ Restricted Appraisal Report This report was prepared in accordance with USPAP Standards Rule 2-2(b). Reasonable Exposure Time My opinion of a reasonable exposure time for the subject property at the market value stated in this report is: less than three months. Additional Certifications I certify that,to the best of my knowledge and belief: ® I have NOT performed 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. ❑ I HAVE performed services,as an appraiser or in another capacity,regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment.Those services are described in the comments below. The statements of fact contained in this report are true and correct. The reported analyses,opinions,and conclusions are limited only by the reported assumptions and limiting conditions and are my personal,impartial,and unbiased professional analyses,opinions,and conclusions. -Unless otherwise indicated,I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved. I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment. My engagement in this assignment was not contingent upon developing or reporting predetermined results. My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client,the amount of the value opinion,the attainment of a stipulated result,or the occurrence of a subsequent event directly related to the intended use of this appraisal. -My analyses,opinions,and conclusions were developed,and this report has been prepared,in conformity with the Uniform Standards of Professional Appraisal Practice that were in effect at the time this report was prepared. Unless otherwise indicated,I have made a personal inspection of the property that is the subject of this report. Unless otherwise indicated,no one provided significant real property appraisal assistance to the person(s)signing this certification(if there are exceptions,the name of each individual providing significant real property appraisal assistance is stated elsewhere in this report). Additional Comments APPRAISER: SUPERVISORY APPRAISER: (only if required) QQ '` G RIp Signature: Signature: Name: Deborah Vaughan F'�nn� per` Name: Robert M.Birch Date Signed: 04/04/2023 Date Signed: 04/04/2023 State Certification#: A4284 State Certification#: A822 or State License#: or State License#: State: NC State: NC Expiration Date of Certification or License: 06/30/2023 Expiration Date of Certification or License: 06/30/2023 Effective Date of Appraisal: 09/12/2018 Supervisory Appraiser Inspection of Subject Property: ❑ Did Not ❑ Exterior-only from Street ® Interior and Exterior Form ID14AP-"TOTAL"appraisal software by a la mode,Inc.-1-800-ALAMODE DocuSign Envelope ID: DD820BAO-OEEC-4FA4-A613-B708CFDFEC41 •� 28 � + Orange County 17 312 Emergency services A Prepared,Coordinated,and Integrated Emergency Services System E-911 I Fire Marshal I EMS I Emergency Management EMERGENCY MANAGEMENT DIVISION June 6, 2023 Michele Stiffler Adam English 503 Brandywine Road Chapel Hill, NC 27516 RE: Offer to Purchase the Property Located at 503 Brandywine Road,Chapel Hill,NC Dear Ms. Stiffler, In response to the appraisal, which was conducted on your property for a possible acquisition under the FEMA Hazard Mitigation Grant Program (HMGP)for HMGP 4393-0042-R, Orange County proposes the following offer for your property. 1) Structure and Property $260,000.00 2) Minus property taxes TBD 3) Minus existing mortgage(s) if applicable TBD 4) Minus—Miscellaneous(Utilities, Liens, etc.) TBD Please remember that this offer is completely voluntary and eminent domain or condemnation will not be used to force you to participate. The offer includes any duplication of benefits or other items that must be deducted, and is contingent on any additional information that may be added to or deducted from the above total. We have enclosed the following two forms for your signature(s) indicating whether you accept or decline this offer: 1) Statement of Voluntary Participation for Acquisition of Property for Purpose of Open Space (FEMA Form 206-FY- 21-124). 2) Offer to Purchase Acceptance/Decline Form. On this form you may either accept or decline the Offer to Purchase. Please complete and return to the address above within 30 days of the date of this letter. Failure to return the form within this timeframe will be considered as a decline of the offer. If you have any questions, please contact me at 919.245.6135 or spickhardt@orangecountync.gov Regards, Sarah E Pickhardt Division Chief of Emergency Management Orange County Emergency Services 510 Meadowlands Drive I Hillsborough, NC 27278 1 (919) 245-6100 Main Office DocuSign Envelope ID: DD820BAO-OEEC-4FA4-A613-B708CFDFEC41 •� 29 � + Orange County 17 312 Emergency services A Prepared,Coordinated,and Integrated Emergency Services System E-911 I Fire Marshal I EMS I Emergency Management EMERGENCY MANAGEMENT DIVISION Accepting or Declining the Mitigation Offer You have 30 days from the date of the Mitigation Offer Letter to accept or decline the mitigation offer of assistance by signing the appropriate section below and returning it in the addressed envelope to Orange County Emergency Management Division,Attn:Sarah Pickhardt. Failure to respond to the offer within 30 days from the date of the offer constitutes declining the Mitigation Offer. Please be advised the County will not reserve the funds for your property and will offer the funds to another property in the floodplain, if you decline the offer. However,the offer to you will remain only as funds remain available. Accepting the Mitigation Offer Final Mitigation Offer: $260,000.00 Mitigation Activity: Acquisition I,the property owner, accept this mitigation offer: Signature of Property Owner(s)or Authorized Representative(s) Date Signature of Property Owner(s) or Authorized Representative(s) Date Signature of Orange County Representative Date Declining the Mitigation Offer Mitigation Offer Declined: Signature of Property Owner(s) or Authorized Representative(s) Date Signature of Property Owner(s) or Authorized Representative(s) Date Signature of Orange County Representative Date 510 Meadowlands Drive I Hillsborough, NC 27278 1 (919) 245-6100 Main Office