HomeMy WebLinkAboutEDB Purchase Agreement.338 Lido Place EXECUTIVE SUMMARY
AGENDA ITEM:
Request for consideration and approval of the attached Purchase Agreement and Clay County
Utility Authority("CCUA")to purchase the vacant single-family home and 0.285 acres located at
338 Lido Place, Orange Park ("Property"), to accommodate future improvements at the
Meadowbrook Water Treatment Plant and Lift Station#9.
Date: January 11, 2023
BACKGROUND:
CCUA staff received an unsolicited offer to purchase the property at 338 Lido Place,Mr. Timothy
Puhlick and Ms. Theresa Moody("Sellers). The Property recently became available due to a death
in the family. As shown on the attached CCPAO Area Map, the Property abuts and is located east
of CCUA's Meadowbrook Water Treatment Plant("WTP") and Lift Station#9.Acquisition of the
property is helpful for CCUA to accommodate future improvements to both the water plant and
lift station: both are very constrained on their existing sites. Future improvements include but are
not limited to the relocation of the existing lift station, and the use of the space for water plant
operations functions.
The attached Purchase Agreement,executed on December 22,2022,reflects the Seller's agreement
to sell CCUA the Property in exchange for a negotiated purchase price of $170,800. CCUA
commissioned an appraisal of the property by Pearce Appraisals,which was received on 11/16/22.
° The adjusted comparable values ranged from $149,900 to $170,800. The proposed purchase
c amount represents the high end of the range. Staff believes this marginal difference above the
average $159,233 is justifiable to avoid additional time and negotiation via the customer
commissioning an additional appraisal, and the potential for not completing this opportunity
° purchase. The price is consistent with and comparable to other acceptable predominant value
ranges of properties covered in the appraisal prepared by Pearce Appraisals, Inc. Excerpts of the
Property appraisal are attached for your reference.
ce
Staff requests the Board of Supervisors' approval of the Purchase Agreement and to proceed with
the purchase and closing of the Property in accordance with the terms and conditions detailed in
the attached Purchase Agreement.
BUDGET:
The total budget of$172,800 ($170,800 purchase price plus $2,000 for ordinary and reasonable
closing costs and expenses will be transferred from the Capital Budget Contingency to the
Meadowbrook WTP Evaluation to Improve Infrastructure and Provide Treatment Solutions to
cover this expense.
RECOMMENDATION:
Staff respectfully recommends the Board's approval of the Purchase Agreement and authorization
to proceed with the purchase and closing of the Property, in accordance with the terms and
conditions detailed in the attached Purchase Agreement. If approved, Jeremy D. Johnston,
Executive Director, will act on CCUA's behalf to execute the Purchase Agreement and closing
documents in final form. Attorney Roger D. Cruce is the Closing Agent for this transaction.
ATTACHMENTS:
CCPAO Area Map
Purchase Agreement
Appraisal of Real Property-11/09/2022
//MB (Author)
//LV(Review)
//PS(Final)
XAService Availability\Easements&Real Estate\Execufve Summaries\Purchase of 338 Lido Place-Puhick and Moody.docx
ittof Clay County Property Appraiser's Office
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Date created:1/12/2023
Last Data U ploaded:1/12/2023 6:08:11 AM
Developed byfislo Schneider
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December 21, 2022
Mr. Timothy Puhlick & Ms. Theresa Moody
4400 Peppergrass Street
Middleburg, Florida 32068
Re: Parcel No. 06-04-26-010833-000-00 — Request by Clay County Utility Authority (CCUA) to
purchase Lot 38 of Block 3, Meadowbrook Unit Two, a/k/a 338 Lido Place, Orange Park,
Florida to accommodate future improvements at the Meadowbrook Water Treat Plant.
Dear Mr. Puhlick and Ms. Theresa Moody:
The CCUA is hereby requesting to purchase in fee simple the single-family home and 0.285 acres
of the above-mentioned real property, as shown on the attached map, for a negotiated purchase
price of $170,800.
• The $170,800 value is within an acceptable predominant value range based on the appraisal report
completed by a Florida State Certified General Appraiser on November 9, 2022.An extensive search
of all comparables was made to determine the most similar properties available most closely
representing this property. This included consideration for location, site view, age, condition, living
area, parking facilities. amenities, quality, style. and design.
If this offer is acceptable to you as presented. please sign in the space provided below and return
the signed original. This tentative agreement will then be presented to CCUA's Board of Supervisors
for review and consideration. If approved, CCUA will then proceed with a title search. Any issues
must be resolved prior to closing. If the title search confirms there are no issues with the property,
CCUA will prepare for closing.
Feel free to call me, at (904) 213-2420, if you have any questions or require any additional
information.
Very ly yours, Accepted By:
L CO TY UTILITY AUTHORITY
�I.�Clrli3On�= P 0�
J rimy D. Johnston, PE, MBA Ti th uhlick
elnel
Executive Director _
Theresa Moody
Date: ZZ_
Attachments
Serving the Community through Accountability, Sustainobility, and Commitment
( di
CLAY COUNTY UTILITY AUTHORITY
ti MEMORANDUM
•
DATE: December 20, 2022
TO: Department Leadership Team
FROM: Jeremy D. Johnston, MBA, PE. Executive Director
RE: Out of the office December 21 and 22. 2022
Beginning Wednesday, December 21. 2022, I will be out of the office for the Christmas holiday.
In the office. I authorize Kim Richardson, Chief Human Resources Officer, to act on my behalf
until my return to the office on Tuesday, December 27, 2022.
In accordance with the Clay County Utility Authority's Enabling Legislation, created by the
Florida Legislation, Chapter 94-491', Mouse Bill 2299, recorded in the Public Records of Clay
County, Florida, in Official Records Book 1524, pages 1798-1836, as the acting Executive
Director, 1.Jeremy D.Johnston,hereby confirm that Kimberly Richardson is hereby authorized to
act on my behalf,with regards to signing any documents associated with the legal business of the
Clay County Utility Authority, which 1 would otherwise be authorized to sign during the above-
referenced period.
In the event of an emergency,please coordinate with Kim. If I am needed for emergency actions,
I will be available via cell phone or text. I will also be available to return to the office should events
warrant.
I expect all of you to conduct CCUA business as usual and as the dedicated professionals you are.
Please feel free to contact me or any member of the Senior Leadership Team if you have any
questions.
I2tV1khflSOflMBAPF
Executive Director of the Clay County Utility Authority
cc: File
Darryl Muse, Chief Operations Officer
Jeff Wesselman. CPA. Chief Financial Officer
Kimberly Richardson,Chief Human Resources Officer
Paul Steinbrecher, PE,Chief Engineer
Alicia Baker, Administrative Assistant Operations
Pearce Aopraisals,Inc
PO#23-35313
File#Madowbrook-Lido PI
APPRAISAL OF REAL PROPERTY
LOCATED AT
338 Lido Pi
Orange Park,FL 32073
Lot 38 Blk 3 Madowbbrok Unit 2
FOR
Clay County Utility Authority
3176 Old Jennings Rd
Mddleburg,FL 32068
OPINION OF VALUE
160,000
AS OF
11/09/2022
TABLE OF CONTENTS
GP Residential 1
GP Residential Certifications Addendum 4
Balding Sketch
Subject Photos 7
Photograph Addendum 8
Photograph Addendum 9
Comparable Photos 1-3 10
Plat Mtp 11
Location Mtp 12
LSPAP Identification 13
Jennifer-License 2024 14
thalifications-Jennifer 15
Fonn TON-'70TAIT appraisal soliviare by a h mode,inc.-1-800-ALAMII
Pearce Aunisals,Inc
PO##23-35313
RESIDENTIAL APPRAISAL REPORT nklsb.: IvEadowbrook-LidoPl
°I'rtyAddmss: 338 Lido P1 chY Orange Park State:FL zsCode:32073
County: Clay 1egd}xsG11 Lot 38 Blk 3 Ivladowbbrok Unit 2
U Assessof s Parcel#: 06-04-26-010833-000-00
ui
al Tara'' 2021 RE Tams:$688 Special Assessments:$0 Bemraer(ifoppticable): NA
y ancent Omer ofRecord Theresa Is/body,et al Cbcupant ❑Owner ❑Tenant ®vacant ❑Mmufactaed}busig
Project Type: ❑ PiD ❑ Condominium ❑ Cooperatte ❑ Oher(desade) }Ds$ ❑per year ❑per month
Mdet Prealane: Ivladowbrook MipRe£Ierce: 520.01 Go rs Traet 0303.04
The purpose ofthis appraisal is to develop an opinion of ®Mdretvahe(as defined),or ❑other type ofvalue(describe)
Ibis neportrefects the folbwmgvah'e(ifnotOment,seeconrrents): ®Oment(thehspecthmCte is the D ctive ate) ❑Retmspectre ❑Ptrspectiie
F Apptoches dewloped for this appraisal ®SalesonaparsomApproach ❑Cost Approach ❑hears Approach (See ReconcliationCoaaents and Scope ofAtdf
la PropertyRngl'Is Appraised ®Fee Simple ❑Leasehold ❑Ieasedtee ❑Oler(descrire)
f
z hte'dedtie: Estimate Current Ivfrrket Value
o
N
a hte'ded[ken(s)(byname ortype): Client: Clay County Utility Authority
alert Clay County Utility Authority Address: 3176 Old Jennings Rd,Mddleburg,FL 32068
men Jennifer Pearce,SRA Address: 1835 Eastwest Pkwy Ste 18,Fleming Island,FL 32003-5311
baton ❑Uban ®Suburban ❑Rural Prabnunant Oe-Lhitlb'sing Present Landloe Orange inLandike
Rsik up: ®Over 75% ❑25-75% ❑alder 25% °npan'y PRICE ACE. Os-tart 100% ®}ft'ilely
Onwth rate: ❑Rapid ®Stable ❑ Slow ®Owner $(000) (Y.) 2-4Ult % ❑Lizly* ❑In Process*
z op.rtyvalues: ❑hncreasng ®Stable ❑Itclinig ❑Tenart 130 low 40 MbROrt % *To:
LCmand/snpply ❑Shortage ®hthlance ❑Over Supply ❑vacant(0-5N 320 1th 60 c'ill %
2 Mnds=thgtitre: ®ihder3bibs. ❑3-6 Ms. ❑Over 6Ms. ®vacant(>5N 230 l'ed 50 %
o
W Mulot Aea Boundaries,Eesuiptiou,and Maket Candittins(including supped bribe above characteristics andtrends): Property is located south ofClay/Duval
0
g County Line,east ofBrananField Road,north and west of Blanding Blvd. Subject property is located in residential subdivision of Orange Park,FL
a known as Ivgadowbrook.Homes are predominantly traditional style single family dwellings of siding,concrete block,and brick construction.
IT, Conveniently located near main thoroughfares,commercial outlets and schools. Enclosed parking and additions common to increase living area
adue to small gross living area of original structure. All types of financing available in subject market area.
m
D'''''' s: 108 x 115 Ste Area: 12,420 s f
Zoning Classification: RB Ikscdptiar Residential
Zoning Compliance: X Legal ❑legdnaennfnning(gt'a'dfatle'ed) ❑➢legal ❑Ni zoning
Pre CT&Rs applicable? ❑Its ❑Ste ®011n'own Hive the documents beenrevkued! ❑Is ®NJ Gourd Rent(ifapplicable) $ /
}}ghest&atstihe as it-moved: ®Presentuse,or ❑Oheruse(etphnir)
Actual Ike as ofEfEctive[So: Residential the as appraised mthis report: Residential
t0 Sarrmryof}ighest&BestIle: See Page 2
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a
a Oilties Pablo fiber Providedlkscripbm 0€site hprovenents Type Pubic Prrvae Topography Level
o
w °ecsorty' X ❑ County Suet Paved X ❑ Si$ Typical
w as X ❑ Private arb/Otter None ❑ ❑ Shape MlstlyRectangle
1-
co der X ❑ County Sdevualc None ❑ ❑ and°'aEr Appears Adequate
Sa'ntarysewer X ❑ County Streetlights Incandescent X ❑ mew Average
StamSewer X ❑ County ' Y None ❑ ❑
Oherste elenente: ❑hside Lot ®Ormerlot ❑Cud de Sac ❑tdergroudUil�s ❑Qher(descdte)
In FEMkSpec'I Flood Hazard Aea ❑�s ®M FFM4Fbod7nne X FE44Mp# 12019C0090E FE44Mplue 3/17/2014
Ste Cannons: No adverse easements or encroachments noted at time Standard set back lines and easements for utilities common in
subject subdivision. Utilities were fumed on and functioning adequatet time of viewing
amerd ascription Fateria ascription :viewing.
I3asenent ®Mr }leafing
#ofUots 1 ❑Acc.Ont Famdata' Concrete Yes AeaSq.R Tye Forced
#of Stories 1 Exterior Wills Conc Block QawlSpace No %Fmsled Fuel Elec
Type ®Ixt ❑Au ❑ R afSurtace Shingle Ihsene't None Ceiling
Dksign(Style) Traditional riders&Avrsps. None Slurp Pump ❑ wars (haling
X Existing ❑Proposed ❑ihd.Ca s. \tendowType Alum SH IEnpness ❑ Floor Central Central
'tcmal Age Ofs.) 64 Stam'Scree'n Screens Seulen't None Appr atsideE'ny abet
Electron Age(S}s.) 25 k6station Unknown
ZInterior ascription Appliances Attic ❑Acme .4nenities (hr Storage ®Aims
g▪ Floors Refrigerator ❑ Stairs ❑ Fhephee(s)# None wwdstove(s)# Garage #ofcars ( 1 Tot)
o Wills Plaster/Panel/DV6 Range/Oven ® mop State ❑ Patio h
Covered Attach.
re TritFmsh Wood Disposal ❑ Scuttle X Deck None Iktach
Path Boor Vinyl IXshwasher ❑ Lbonvay ❑ Porch Stoop I .-In
w
F Dhdrwhrscot Tile torillbad ❑ P°°' ❑ Fee Rear °upon
o Duo. Wood Merowrie ❑ }Sated ❑ Pool None [tev tty 1 Concrete
z0 Washednyer ❑ Finished ❑ Surface
a-Finished area above grade contains: 6 Roans 3 Pedmons 1 ems) 1,414 Square Feet ofCioss Living Area Above Gude
o Addtionaltanues: Covered patio,attached utility room,fence,corner lot
cn
0
Dtscnbe thecadtanoftheproperty(mchdingphysica(sm°snnal and external obsolesceme): Property lacks updates and modernization common for homes in
subject market area and age. Roof appears to be in fair condition however stained ceiling tile observed in rear addition,likely from roof leak. HVAC
in average condition(2011).No interior improvements have taken place over prior 15 years. Original dwelling constructed with approximately 850
gross living area with rear addition and enclosed parking area added to increase heated and cooled sq ft.
—
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PON#23-35313
RESIDENTIAL APPRAISAL REPORT HE.: Nbadowbrook-LidoPl
Mjreseamch ❑did ®did not revealanyplarsales ortransfrs ofthe subjectproperty&rthe three years prior to the el@cbve date ofthis appraisaL
[eta sarce(s): Tax Records
1stPdaSubject Sate/Transfer Aalyssofsale/trans&rhicton'atd/ormaycsmemagreenemofsateTstmg: No prior sales history of subject property(3
• lire: years).
I Price:
ce
Et! m Soce(s):
rn
2ndPmr Subject Sale/Trasfer 2
Price:
Sorrce(s):
SALESCOVPAREWAPPimflflOVALIE(ifdevebped) E The Sales Cary eonApproachaas not developed for this appraisal.
FFATIRE SIBJB2r CCIVPPRPHESALE#1 CCIVPPRPHESPLE#2 CCIvPPRPHESPIE#3
Address 338 Lido P1 335 Toccoa Rd 287 Edson Dr 344 Janell Dr
Orange Park,FL 32073 Orange Park,FL 32073 Orange Park,FL 32073 Orange Park,FL 32073
Proximity to Subject = 0.27 miles E 0.25 miles SW, 0.47 miles S
Sale Price $ $_ 203,000 $ 201,000 $ 159,500
Sale Price/(IA $ /sq.&.$ 170.73 /sq.tt $ 154.50 /sq.&. $ 96.90 /sgtt
Ia aSoace(s) NEFNLS#1166076;DOM24 NEFM..S#1162225;DOM1 NEFNLS#1146237;DOM9
\krdcalron Source(s) Tax Record/Exterior Inspection Tax Record/Exterior Inspection Tax Record/Exterior Inspection
VAIIEADILSTbHt1S I1SCRIPIIOd EESCRIV1Ehl +(-)$Adjust EESCRIFIEN +(-)S Adjust 1&S((RIJPlllN +(-)$Adjust
Sales orFrancmg ArmsLength ArmsLength REC
Concession, Conv;3000 Cash;0 Cash;0
irate ofsale/Tr'e 07/14/2022 04/29/2022 02/28/2022
Rights Appraised Fee Simple Fee Simple Fee Simple Fee Simple
Location Nbadowbrook Ivbadowbrook Bellair Bellair
Si 12420 sf 7920 sf Offset 7888 sf Offset 7841 sf Offset
Mew Fair/WaterPlant Residential Offset Residential Offset Residential Offset
Ixsign(Style) Traditional Traditional Traditional DT1;Ranch
QehtyofCorstnrctiar Average Average Average 04
Age 64 60 59 0 56
Condition Fair Superior -35,000 Superior -35,000 Poor +12,000
Above Clade Taal Bins Bills Taal sins als Taal telma MN Taal alms MN
RoomCbunt 6 3 1 6 3 1.1 -2,500 6 3 2.0 -5,000 7 3 2.0 -5,000
Goss Living Area 1,414 sq.i 1,189 sql. +6,800 1,301 sq.11. +3,400 1,646 sq.1l. -7,000
Easenent&rrished None None None 0sf
Roars(Slow(iade
Functional[laity Average Average Average Average
CO Ikaling/CooIng
FWA/CAC FWA/CAC FWA/CAC FWA/CAC
EnergyEtficientkr a Heat Pump Heat Pump Heat Pump Heat Pump
Garage/carport None/Enclosed 1 Carport -2,500 1 Carport -2,500 1 Carport -2,500
aPoorhPatidlkck Cov Patio,Utility,Fc Ent,Patio,Fence +1,000 Ent,Pat,Fc,IG Pool -12,000 Similar 0
0
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o I,ktA8aturnt(Total) ❑+ ® - $ -32,200 ❑ X - S -51,100 ❑+ X - S -2,500
y Adjusted Sale Price
ofCcmparabks $ 170,800IM S 149,900 $ 157,000
to SumreryofSales Cbnpmsonkraoach Subject Property Is Within An Acceptable Predominant Value Range,And Is Not Considered Over Or Under
Improved For The Area.Size(Square Feet Of Living Area),Parcel Dimensions,Age/Condition,Improvements And Other Relevant Factors Were
Considered In This Determination.
Subject Dwelling Was Inspected For Readily Observable Conditions.
Data Sources Utilized In Subject Assignment Include Realquest,DataTree,MNIE,Tax Records&MLS.
Nhrketing Time:An Opinion Of The Amount Of Time It Night Take To Sell AReal Or Pers onal Property At The Concluded Ivhrket Value Level airing
The Period Immediately After The Effective Date Of The Appraisal(Indicated On Page 1).
Exposure Time:Estimated Length Of Time That The Property Interest Being Appraised Would Have Been Offered On The Open Nhrket Prior To The
Hypothetical Consummation OfASale At The Nhrket Value Of The Effective Date Of The Appraisal Exposure Time Is ARetrospective Opinion Base
On An Analysis Of Past Events Assuming A Competitive And Open Market.Estimated Exposure Time Is 1 To 3 Nbnths.
An Extensive Search Of All Comparables Was Made To Determine The Nbst Similar Properties Available Nbst Closely Representing Subject Proper)
This Includes Consideration For Location,Site,Mew,Age,Condition,Living Area,Parking Facilities,Amenities,Quality,Style,Design&Appeal
Appraiser Concedes Comparables Could Be Available Closer In Proximity And/Or Nbre Current Date However,These Sales Would Require Nbre
Adjustments For Pertinent Differences Resulting In The Possibility Of Distorting"True"Nhrket Value Of Subject Property In Today's Nhrket.
"The Subject Is ALegally Permissible Use Based On Its Current Zoning.Also,The Lot Size,Shape And Land-To-Building Ratio Allow The Present
Structure And Indicate A Sans factory Utilization Of The Improvements.Based On Current Market Conditions,The Existing Structure As ASingle
Family Residence Is Its Financially Feasible And Maximally Productive Use.The Highest And Best Use,As If Vacant,Would Be To Construct ASingl
Family Dwelling."
Indicated Value by Sales Cbnparson Approach$ 160,000
GP RESIDENTIAL �byala inc This
�b�"e unmodified without written permission, ,ala mode,ix must be acknowledged�c�
Foam(PRES2-'TOTAL"appraisal software by a 1a mode,inc.-1-800-ALAM E 3/2007
PO##23-35313
RESIDENTIAL APPRAISAL REPORT HE.: Madowbrook-LidoPl
(LSTAPPRCIALitOVAISE(ifdeveloped) ®The Cost!pproachwas notdevelopedfi thi
s appraisal
Provide adequate mfomutinforrephcatanofthe following cost figures andcalculations.
Support f rtte opinion
rofsi me value(sum yofcomparable laodsales or other arthods for estirmtingsite value):
ESTIM4QD ❑REPRCELETE CR ❑REPLtEvENFISSTNfiw CMIIN€FSIIEVALE =$
= Source oncost data UdHL'G SqR @$ =$
QQsality rating firm cost setvice: Effective date ofcostdata: SqR@$ =$
O
d Comments on CostFpproach(gross living area calculations,depreciatin,etc.): Sq.R@$ _ _=$
Q SqR@$ _$
OSq.R@$ _ __$
(..) =$
cumge/Cerpat Sq.R @$ =$
Total EstimateofQst-/sew =$
Less Physical Functional Paternal
— —
Depreciation =$( )
Depreciated Costofhrpmvenreris =$
"Aa-is"Val a ofSite hnprovenents =$
Fstimted Remaining Economic Lire(ifrequired): 40 moans thr'AIEDVALIESYQtTAPPRO°B =$
IIIIVEAPPRCACHIOVAILE(rfclweloped) ®The Inane Pppmachwas not developed f fi s appraisal.
U Fsthm[edMnttyMuttet Rent$ X chss Rent Mrhipher =$ Indicated Value byfrconeApproach
0 Srmmaryofhicome Approach(hchdmg support for nsdd<etrent and( : Income Approach Was Not Utilized.
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PROTECFINFCRMUINFCRPIII(ifapplicable) ❑The Subject spatofa Plannedl3ah hwkrpnent.
LegalNune ofPniect:
Ikscnbe common elenents and recreationalfaciliiks:
hdicated\hhre by.Sales(bnparison Approach$ 160,000 (lost Approach(ifdeveloped)$ Icon Approach(ifdeveloped)$
rndRecohchmtion The Market Approach Is AReflection Of Buyers And Sellers In The Market Place And The IVbst Reliable Indicator Of Value.The
Income Approach&Cost Approach Not Considered Relevant To Subject Assignment
gThis appraisal is made®"as is", ❑ subject to completion per plans and specifications on the basis of a Hypothetical Condition that to inprovenens have been
Z1 completed, ❑subject to tire following repairs or alterations on the basis of a Hypothetical Condition that the repairs or aheratos have been completed, ❑subject to
t.)
ZO the following requited ispectin based on the Gmaod r.mary Assumption that the condition or deficiency does not requie aheratian or repair.
U
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re
❑This report is also subject to other Hypothetical Conditions and/or amorality Assumptions as specified in to attached addenda
used on the degree of inspection of the subject property, as indicated below, defined Scope of Vbrlc, Staten-erg of Assumptions and Li niting Cbndimns,
and Appraiser's Certifications, try (cart) Cpimon of the Mrket Value (or other specified value type), as defined herein, of the real property that is the subject
of this report is: $ 160,000 ,as of. 11/09/2022 , which is the effective date of this appraisal
If indicated above, this Cpvnion of Value is subject to FTypothetical Qhtctians and/or Extraordinary Assumptions included in this report. See attached addenda.
A hoe and complete copy of this report contain 15 pages, ischding exhibits which are considered an integral part of to repot This appraisal report many not be
Zproperly uhderstocd without reference to to irthnr ation contained in the complete repot w Attached Exhibits:
a• ® Srrye of Work X limiting Cond./Certifications ❑Nuratne Addendum X Photograph Addenda X Sketch Addendum
~ ®Map Addenda ❑Additional Sales ❑Cost Addendum ❑ Flood Addendum ❑ Mind Hiuse Addendum
a ❑Hypothetical Conditions ❑EnuaordinalyAssumptions ❑Extraordinary Assumptions ❑ ❑
CliertContact M°lisa Blaney QienntNune: Clay County Utility Authority
&Whit mblaney(ailayutility.org Address: 3176 Old Jennings Rd,Mddleburg,FL 32068
APPRAISER SUPERVISORYAPPRAISER(if required)
/� or CO-APPRAISER(if applicable)
...e..4.14..e.....e._,
7 SupervisO1yor
•
a Jennifer Pearce,SRA Co-Appraiserrhne:
0 edam/ Pearce Appraisals,Inc Company
y Phere: (904)375-9044 F. Pore: Fax
&Mont: apprais als(apearceapprais als.core &Mt:
ate ofRep rt(Signaaae): 11/16/2022 ate ontepot(Signaaae):
theme orCertificatxn#: Cert Gen RZ189 State: FL license orCertificaton#: State:
Designation SRA(Apprais al Institute) Designation:
Expiration ate oflicerse or Certification: 11/30/2024 Expiration late oflicerse or Certification:
hspectionofsubject ®interior&Esterar. ❑Exterior Only ❑None Inspectionofsubject ❑interior&Etedor. ❑Exterior Qty ❑None
ateoffrispect10n: 11/09/2022 lite o pection:
GP RESIDENTIAL 20a,byaberul,�This form may b�`e d, �m° rims m ete,ala mode,nc a�tbeacknow and c d.
Form(PRES2-"ICT AL"appraisal software by a h mode,inc.-1-800-AJAVL%E 3/2007
PO##23-35313
Assumptions, Limiting Conditions & Scope of Work.: NEadowbrook-LidoPl
"P"ty i ss. 338 Lido P1 °Orange Park sue:FL :32073
°ient Clay County Utility Authority tress: 3176 Old Jennings Rd,Mddleburg,FL 32068
Appraiser. Jennifer Pearce,SRA Mk": 1835 Eastwest Pkwy Ste 18,Fleming Island,FL32003-5311
STATHVENrcr ASSUNPTICN3&I]MTIIs1C'I IICI\B
-The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it.The
appraiser assumes that the title is good and marketable and,therefore,will not render any opinions about the title.The property is appraised
on the basis
of it being under responsible ownership.
-The appraiser may have provided a sketch in the appraisal report to showapproximate dimensions ofthe improvements,and any such
sketch
is included only to assist the reader ofthe report in visualizing the property and understanding the appraiser's determination of its size.
Unless otherwise indicated,a Land Survey was not performed.
-If so indicated,the appraiser has examined the available flood maps that are provided by the Federal Emergency Nhnagement Agency(or
other
data sources)and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area.Because
the appraiser is not a surveyor,he or she makes no guarantees,express or implied,regarding this determination.
-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.
-Ifthe cost approach is included in this appraisal,the appraiser has estimated the value ofthe land in the cost approach at its highest and
best
use,and the improvements at their contributory value.These separate valuations ofthe land and improvements must not be used in
conjunction
with any other appraisal and are invalid ifthey are so used.Unless otherwise specifically indicated,the cost approach value is not an
insurance
value,and should not be used as such.
-The appraiser has noted in the appraisal report any adverse conditions(including,but not limited to,needed repairs,depreciation,the
presence
ofhazardous wastes,toxic substances,etc.)observed during the inspection ofthe subject property,or that he or she became aware of
during the
normal research involved in perfoin,iug the appraisal.Unless otherwise stated in the appraisal report,the appraiser has no knowledge of any
hidden or unapparent conditions ofthe property,or adverse environmental conditions(including,but not limited to,the presence of
hazardous
wastes,toxic substances,etc.)that would make the property more or less valuable,and has assumed that there are no such conditions and
makes no guarantees or warranties,express or implied,regarding the condition ofthe property.The appraiser will not be responsible for any
to such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the
appraiser is not an expert in the field of environmental hazards,the appraisal report must not be considered as an environmental assessment
of
the property.
-The appraiser obtained the information,estimates,and opinions that were expressed in the appraisal report from sources that he or she
considers to be reliable and believes themto be true and correct. The appraiser does not assume responsibility for the accuracy of such
items
that were furnished by other parties.
-The appraiser will not disclose the contents ofthe appraisal report except as provided for in the Uniform Standards ofProfessional
Appraisal Practice,and any applicable federal,state or local laws.
-Ifthis appraisal is indicated as subject to satisfactory completion,repairs,or alterations,the appraiser has based his or her appraisal
report
and valuation conclusion on the assumption that completion ofthe improvements will be performed in a workmanlike manner.
-An appraiser's client is the party(or parties)who engage an appraiser in a specific assignment.Any other party acquiring this report from
the
client does not become a party to the appraiser-client relationship.Any persons receiving this appraisal report because ofdisclosure
requirements applicable to the appraiser's client do not become intended users ofthis report unless specifically identified by the client at the
time of the
assignment.
-The appraiser's written consent and approval must be obtained before this appraisal report can be conveyed by anyone to the public,
through advertising,public relations,news,sales,or by means of any other media,or by its inclusion in a private or public database.
-An appraisal ofreal property is not a'home inspection'and should not be construed as such.As part ofthe valuation process,the
appraiser performs a non-invasive visual inventory that is not intended to reveal defects or detrimental conditions that are not readily
apparent.The presence of such conditions or defects could adversely affect the appraiser's opinion ofvalue.Clients with concerns about
such potential negative factors are encouraged to engage the appropriate type of expert to investigate.
The Scope of\Abrkis the type and extent ofresearch and analyses performed in an appraisal assignment that is required to produce credible
assignment results,given the nature ofthe appraisal problem,the specific requirements ofthe intended user(s)and the intended use ofthe
appraisal report.Reliance upon this report,regardless ofhowacquired,by any party or for anyuse,other than those specified in this report
by
the Appraiser,is prohibited.The Cbinion of Value that is the conclusion ofthis report is credible only within the context ofthe Scope of
Mork,Effective Elite,the LAte ofReport,the Intended Laer(s),the Intended Use,the stated Assumptions and Limiting Conditions,any
Hypothetical Conditions and/or Extraordinary Assumptions,and the Type ofValue,as defined herein.The appraiser,appraisal firm,and
related parties assume no obligation,liability,or accountability,and will not be responsible for any unauthorized use ofthis report or its
conclusions.
Additional Comments(Scope ofVlbrk,Extraordinary Assumptions,Hypothetical Conditions,etc.):
GP RESIDENTIAL 2 7byalam ,ox m m be ed , ° ° so, ,a lam ,:c beac"o d°redeed
Fam(1'Rffi2AD-"1OTAL"appraisal software by a la mode,inc.-1-800-ALAM%E 3/2om
PO#23-35313
Certifications Ivvadowbrook-Lido P1
upaty.'ddress: 338 lido P1 °Orange Park sire:FL :32073
Glen' Clay County Utility Authority Address: 3176 Old Jennings Rd,Mddleburg,FL 32068
Appraiser. Jennifer Pearce,SRA Address: 1835 Eastwest Pkwy Ste 18,Fleming Island,FL32003-5311
APPRAISERS CFRIIFICATI IN
I certify that,to the best ofmvknowledge and belief
-The statements of fact contained in this report are true and correct.
-The credibility ofthis report,for the stated use bythe stated user(s),ofthe 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.
-Ihave no present or prospective interest in the property that is the subject ofthis report and no personal interest with respect to the parties
involved.
-Llnles s otherwise indicated,I have performed no services,as an appraiser or in any other capacity,regarding the property that is the
subject ofthis report within the three-year period immediately preceding acceptance ofthis assignment.
-Ihave no bias with respect to the property that is the subject ofthis report or to the parties involved with this assignment.
-NA/engagement in this assignment was not contingent upon developing or reporting predetermined results.
-NA/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 ofthe client,the amount ofthe value opinion,the attainment of a stipulated result,or the occurrence
of a subsequent event directly related to the intended use ofthis appraisal.
-NI/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.
-I did not base,either partially or completely,my analysis and/or the opinion ofvalue in the appraisal report on the race,color,religion,
sex,handicap,familial status,or national origin of either the prospective owners or occupants ofthe subject property,or ofthe present
owners or occupants ofthe properties in the vicinity ofthe subject property.
-Unless otherwise indicated,Ihave made a personal inspection ofthe property that is the subject ofthis report.
-Unless otherwise indicated,no one provided significant real property appraisal assistance to the person(s)signing this certification.
Additional Certifications:
I EFFINITICNCF MARKET VALUE*:
Market value means 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 and knowledgeably,and assuming the price is not affected byundue stimulus.
Implicit in this definition is the consummation of a sale as of a specified date and the passing oftitle from seller to buyer under conditions
whereby
1.Buyer and seller are typicallymotivated;
CO 2.Both parties are well informed or well advised and acting in what they consider their own best interests;
3.Areasonable time is allowed for exposure in the open market;
4.Payment is made in terms of cash in US.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.
*This definition is from regulations published by federal regulatory agencies pursuant to Title x[ofthe Financial Institutions
Reform,Recovery,and Enforcement Act(FIRREA)of 1989 between July 5,1990,and August 24,1990,bythe Federal Reserve System
(FRS),National(}edit Union Administration(NCUA),Federal Deposit Insurance Cbrporation(FLIC),the Cffice of Thrift Supervision(0IS),
and the Office ofCbmptroller ofthe Cirrency(CCC).This definition is also referenced in regulations jointly published bythe(XL GIS,
FRS,and FDICon June 7,1994,and in the Interagency Appraisal and Evaluation Guidelines,dated CEtober 27,1994.
4 Oierrt°matt IvIlisa Blaney Qientt*nre: Clay County Utility Authority
E*i1 mblaney(&elayutility.org Address: 3176 Old Jennings Rd,Mddleburg,FL 32068
APPRAISER SUPERVISORYAPPRAISER(if required)
�� or CO-APPRAISER(if applicable)
cn
reSupervisayor
a tom: Jennifer Pearce,SRA Co-AppraserNme:
O Cry Pearce Appraisals,Inc Company.
n Plxx a (904)375-9044 F. Phone: F.
E'lvhit appraisals(dpearceappraisals.com
}Ate Report Signed 11/16/2022 Elite Report Signed
License or Certification#: Cert Gen RZ189 State: FL License or Certification#: State:
ixstl'at rr SRA(Appraisallnstitute) Ixsreaaorr
Expiration rate ofLicense or Certification: 11/30/2024 Expiration ate ofIicense orCertificafion:
Inspection ofSeI ect ®hLLerior&Exterior Exterior Qdy time InspectionofSulrject hLLerior&Exterior ExteriorQdy time
IAteofhspection 11/09/2022 Eliteofh�spection:
GP RESIDENTIAL 2007 yala ,�� may reproduced unmodified, , s�,' `e.ala ,i be acknowledged and credited.
Fenn[PRES2AD-'IOTAL"appraisal software by a la mode,inc.-1-800-ALAM%E 3/2007
Building Sketch
Ebrrower/aient NA
PrTe'ryss 338 Lido P1
alY Orange Park thuntY Clay Smk FL '° 32073
Lender Clay County Utility Authority
24.4'
Coy Utility Study
Patio
Kitchen
10.6' Bedroom
co
N
- Dining co
10.6'
Bedroom
Family
Living Room Bedroom
i° Room
34.6'
11' M Ent
TOTAL Sketch by a la mode,Inc Area Calculations Summary
a(7TeR_F." Calculation Details
First Floor 1414.36 Sq ft 38.7 x 24.4 = 944.28
10.6 x 8.3 = 87.98
21.2 x 16 = 339.2
11 x 3.9 = 42.9
Total Living Area(Rounded): 1414 Sq ft
Form SK{LHffiff-"101AL'appraisal software by a la mode,inc.-1-800-AJAVL%E
Hanover/Client NA rlert>.Iveadowbrook-LidoP1
Pn>13e4y.4dd<ess 338 Lido P1
City Orange Park cmIlr Clay state FL 4?° 32073
Lender Clay County Utility Authority
APPRAISAL AND REPORT IDENTIFICATION
This Report is one of the following types:
® Appraisal Report (A written report prepared under Standards Rule 2-2(a) , pursuant to the Scope of Work, as disclosed elsewhere in this report.)
❑ Restricted (A written report prepared under Standards Rule 2-2(b) , pursuant to the Scope of Work as disclosed elsewhere in this report,
Appraisal Report restricted to the stated intended use only by the specified client and any other named intended user(s).)
Comments on Standards Rule 2-3
I certify that to the best of my knowledge and belief
—The statements of fact contained in this repot are true and correct.
—'The le-ported analyses,opinions,and conclusions are limited only by the teuraled assumptions and limiting conditions and are my personal,impartial,and unbiased professional
analyses,opinions,and conclusions.
—Unless otherwise indicated,I haw 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.
—Unless otherwise Indic ted Ihaw performed no services,as an aptaaiser or in any other capacity,regarding the property that is the subject of this teuult within the three-year
period immediately preceding acceptance of this assignment
—I have no bias with respect to the property that is the subject of this teurat or the parties involved with this assignmernt
—My engagement in this assignment was not contingent upon developing or tewrting predetermined results.
—My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined wane or diction 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 co cl usiors were developed,and this repot has been prepared,in conformity with the Uhifomm Standards of Professional Appraisal Practice that
were in effect at the time this teurxt vas prepared.
—Unless otherwise indicated I have made a personal inspection of the property that is the subject of this terxxt
—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 terurt).
Comments on Appraisal and Report Identification
Note any USPAP related issues requiring disclosure and any State mandated requirements:
The purpose of this report is to estimate market value.
This apprais al report is intended for use to estimate market value for internal financial decisions only. This report is not intended for any other
use.
Intended user:Client
APPRAISER: SUPERVISORY or CO-APPRAISER(if applicable):
Signature: *..,+ram.. ...,Q,Q•1-C.A.+ Signature:
Je e,SRA tom:
Fl State Cert General Apprais er
State Certification#: Cert Gen RZ189 State Certification#:
orStat License#: orStat License#:
State: FL Expiration ate of(eNficaticnorLicense: 11/30/2024 State: Expiration ate of(ertificationorLicense:
]Ate ofSignature and Report 11/16/2022 ate ofSignahne:
ohrtareof at 11/09/2022
InspectionofSulrject Exterior-
Ate onupecdsn( ppticble): TT!09/20il22xrrEex Oy Inspection fSurject
onrepecfon(da ppticable): Nxe IilerorandEero Eerrr-Oy
Form I@0-"TOTAL'appraisal software by a lea mode,inc.-1-800-ALAMEE
Jennifer-License 2024
"`` Ron DeSant,.Governor
E Melanie S.Griffin.Secretary
d F ndi3 r
ti
STATE OF FLORIDA
DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
FLORIDA REAL ESTATE APPRAISAL BD
THE CERTIFIED GENERAL APPRAISER HEREIN IS CERTIFIED UNDER THE
PROVISIONS OF CHAPTER 475, FLORIDA STATUTES
t0 - -7-Aj et%
fin.. _ _
PEARCE, JENNIFER S 14
1 1835-18 EAST WEST PARKWAY tf
\CEO FLEMING ISLAND FL 32003 air
fit, =-
LICENSE NUMBER:RZ189
EXPIRATION DATE: NOVEMBER 30,2024
Always verify licenses online at MyFloridaLicense.com
Do not alter this document in any form.
Yc•—y4''
I'-'4' '• • This •is your license.It is unlawful for anyone other than the licensee to use this document.
Form SCNLQ-"IOTA:appraisal software by a la mode,inc.-1-800-ALANLIE
Qualifications-Jennifer
JENNIFER PEARCE, SRA
STATE CERTIFIED GENERAL APPRAISER
LICENSE#RZ189
EDUCATION AND TRAINING
FLORIDA REAL ESTATE BROKER,JUNE 1978
EARNED"SRA"DESIGNATION-APPRAISAL INSTITUTE,1986
FLA STATE CERTIFIED GENERAL APPRAISER,LIC#RZ189,1990
REFERENCES
DAWNA MAFFETT,VYSTAR CREDIT UNION,904-908-2761
SUE RENSHAW,FIRSTATLANTIC BANK,904-421-3721
CATHY HUFSTETLER,121 FINANCIAL CREDIT UNION,904-720-1759
EXPERIENCE
SELF EMPLOYED;PEARCE APPRAISALS,INC(FORMERLY JENNIFER PEARCE APPRAISER),4556 LEXINGTON
tO AVE.JACKSONVILLE,FL 32210,1991-PRESENT
ASSOCIATED WITH PAGE ASPINWALL APPRAISER,1938 BLANDING BLVD,JACKSONVILLE,FL 32210,1982-
1991
RESIDENTIAL AND COMMERCIAL FEE APPRAISER FOR VARIOUS MORTGAGE COMPANIES,LENDING
INSTITUTIONS,CREDIT UNIONS,LOCAL BANKS,CITY OF JACKSONVILLE,JACKSONVILLE ELECTRIC
AUTHORITY,STATE OF FLORIDA,FHA,VA AND FDIC
FHA APPROVED APPRAISER LIC#RZ189
VA APPROVED APPRAISER#0664
AFFILIATIONS
MEMBER OF THE APPRAISAL INSTITUTE(JACKSONVILLE CHAPTER),TREASURER,2011;SECRETARY,2012
OF LOCAL CHAPTER;2ND VICE PRESIDENT,2013
MEMBER OF JACKSONVILLE BOARD OF REALTORS,MULTIPLE LISTING SERVICE,NORTHEAST FLORIDA
BETTER BUSINESS BUREAU
"I AM CURRENTLY CERTIFIED UNDER THE APPRAISAL INSTITUTE AND STATE OF FLORIDA CONTINUING
EDUCATION PROGRAM."
Fonn SCNLGL-"TOTAL'appraisal software by a la mode,inc.-1-800-ALAM%F