Robert B. Easterling, VSB #15552 

2217 Princess Anne Street, Suite 100-2 

Fredericksburg, VA 22401-3359 

(540) 373-5030 

(540) 373-5234 facsimile 

eastlaw@easterlinglaw.com 

Counsel for Plaintiffs 

UNITED STATES BANKRUPTCY COURT 

EASTERN DISTRICT OF VIRGINIA

Richmond Division 

IN RE: 

JOHN TAYLOR JORDAN Case No. 17-33374-KRH 

CARLA YVONNE JORDAN Chapter 13 

 Debtors 

*************************************

JOHN TAYLOR JORDAN 

and

CARLA YVONNE JORDAN 

Plaintiffs,

v. AP No. ___________ 

U.S. BANK NATIONAL ASSOCIATION 

Serve: Andrew Cecere 

President/CEO

800 Nicollet Mall 

Minneapolis, MN 5402 

Also Serve: 

U.S. BANK NATIONAL ASSOCIATION 

c/o CT Corporation System, Registered Agent 

4701 Cox Road, Suite 285 

Glen Allen, VA 23060 

U.S. BANK HOME MORTGAGE 

a division of U.S. Bank National Association 

4801 Frederica Street 

Owensboro, KY 42301 

and

SAMUEL I. WHITE, P.C., TRUSTEE 

c/o William Adam White, R.A. 

Samuel I. White PC 

5040 Corporate Woods Dr Ste 120 

Virginia Beach, VA 23462-0000, 

Defendants.

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 1 of 32
2

COMPLAINT TO AVOID LIEN 

COME NOW the Debtors/Plaintiffs, by counsel, pursuant to 11 U.S.C. § 506, and hereby 

file this Complaint to avoid a certain lien held and serviced by the Creditor/Defendant, U.S. 

Bank National Association, (“U.S. Bank”) on certain real property owned by the 

Debtors/Plaintiffs, and in support thereof, state as follows:

Jurisdiction:

1. This is an action brought by the Plaintiffs pursuant to 11 U.S.C. §506(a) and (d) 

and 11 U.S.C. §1322(b)(2) and Rules 3012 and 7001(2) of the Federal Rules of Bankruptcy 

Procedure to determine the validity, priority and extent of the interest of U.S. Bank in the real 

estate of the debtors owned as their primary residence and to modify the secured claims thereto. 

2. This is a core proceeding as that term is defined in 28 U.S.C. §157(b)(2) in that it 

concerns determinations of the validity, extent, or priority of liens. 

3. Jurisdiction of the Court over the instant proceeding is based upon 28 U.S.C. 

§1334 because the Plaintiffs filed a voluntary petition under Chapter 13 of the Bankruptcy Code 

on July 3, 2017, Case No. 17-33374-KRH (the “Bankruptcy Case”).

4. In a prior Chapter 7 case (Case Number 13-36374-KRH) filed in this Court on 

November 25, 2013 (the “Prior Bankruptcy Case”), the Debtors received a discharge. 

Facts

5. At all times relevant herein, Plaintiffs were, and are, the owners of certain real 

property and improvements thereon located at 8400 S. Carolina Ct., Spotsylvania, VA 22553 

(hereinafter the “Property”), and which is more particularly described as follows: 

All that certain lot or parcel of land, with all rights and privileges thereto 

appurtenant, situate, lying and being in Chancellor Magisterial District, 

Spotsylvania County, Virginia, more particularly shown and described as the 

remainder of Tax Map 10-A-59, being 2.231 acres (net), on division plat showing 

Parcel 59-A, prepared by Farmer Surveys, Inc. dated August 4, 2004, and 

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 2 of 32
3

recorded in the Clerk’s Office of the Circuit Court of Spotsylvania County, 

Virginia, as Instrument #200400039987. 

Together with a non-exclusive 30’ ingress-egress easement as shown on said plat, 

and non-exclusive rights to that easement for the benefit of Parcel C-1, of which 

the subject property is a part. 

Being the same property conveyed unto John Jordan and Carla Jordan by Deed 

from Top-Notch Builders, Inc., a Virginia Corporation, by deed recorded in the 

aforesaid Clerk’s Office as Instrument #200600023603. 

5. The Property is used as Debtors’ principal residence. 

6. The fair market value of said property was $320,000.00 as of July 3, 2017, (the 

Petition filing date) based upon an Appraisal of said property conducted by Ronald W. Davis of 

Appraisal Group of Fredericksburg 6320 Five Mile Centre Park Suite 323, Fredericksburg, VA 

22407 (540) 786-4500. (A copy of the appraisal is attached hereto as Exhibit 1 and incorporated 

herein by this reference.)

7. The Debtors have a first Deed of Trust lien on the Property with U.S. Bank N.A., 

Noteholder, or its assigns, with a balance of $370,490.42 as of August 2, 2017, as evidenced by 

Proof of Claim (Claim 2) filed on behalf of U.S. Bank National Association. The first Deed of 

Trust was recorded as Instrument #100020256 and modified by Loan Modification Agreement 

recorded as Instrument #140000216 in the Circuit Court Clerk’s Office of the County of 

Spotsylvania, Virginia. This loan was a refinance of a loan originally secured by Deed of Trust 

recorded as Instrument #200800014472. A copy of the first Deed of Trust is attached to Claim 2 

previously filed in the Bankruptcy Case. 

8. The Debtors have a second Deed of Trust (the “second lien”) on the property 

which is also held by U.S. Bank National Association, with Samuel I. White, P.C. named as 

Trustee, with a balance of $44,676.93 as of September 22, 2017, as evidenced by Proof of Claim 

(Claim 6) filed on behalf of U.S. Bank National Association. The second Deed of Trust was 

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 3 of 32
4

recorded as Instrument #200800014473 in the Circuit Court Clerk’s Office of the County of 

Spotsylvania, Virginia. A copy of the second Deed of Trust is attached to Claim 6 previously 

filed in the Bankruptcy Case. The second Deed of Trust was subordinated to the first Deed of 

Trust by subordination agreement dated October 1, 2010 and recorded as Instrument 

#201000020257 in the aforesaid Clerk’s Office. A copy of the subordination agreement is 

attached hereto as Exhibit 2. 

9. Because the amount owed on the first lien on the property exceeds the value of 

the property, there is no equity to which the second lien may attach. 

10. Accordingly, the second lien does not qualify for the anti-modification protection 

clause of 11 U.S.C. §1322(b)(2) and may be stripped off under the principles announced in In re 

Derrick & Tracie Millard, #09-2266 [4th Cir. 2010 unpublished opinion affirming In re Millard,

414 B.R. 73 (D. Md. 2009) on the principles announced by the district court in the underlying 

case]. A Chapter 13 debtor ineligible for a discharge may, upon completion of the plan, strip a 

wholly-unsecured lien. In re Davis, 716 F.3d 331 (2013). 

11. When the lien securing the claim is stripped off, any unsecured liability on that 

claim was discharged in the Chapter 7 case previously filed by the Debtors. (See In re Sweitzer, 

#11-27305 (Md. 2012) adopting the ruling of In re Scantling, 465 B.R. 671 (Bankr. M.D. Fla. 

2012) that “the holder of a wholly unsecured junior mortgage lien holds neither a secured claim 

– by virtue of the §506 valuation – nor an unsecured claim enforceable against the debtor – by 

virtue of the prior discharge.” Id. at 680. 

WHEREFORE, the Debtors/Plaintiffs respectfully request that this Honorable Court 

grant the following relief: 

A. Declare the second lien claim of U.S. Bank to be wholly unsecured and its lien 

subject to avoidance. 

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 4 of 32
5

B. To declare the above described lien to be null and void. 

C. To order U.S. Bank and/or any entity on whose behalf it is servicing the 

underlying loan, their successors, assigns and agents to cancel and release the 

above described lien against the real property, immediately upon entry of the 

Discharge Order and deliver the same to the attorney for the Plaintiffs within 30 

days from the date of the entry of said order at no charge or fee for the aforestated 

cancellation and delivery. 

D. To direct the Trustee that any timely filed proof of claim for the debt(s) secured 

by the above-described lien be treated as discharged in the Prior Bankruptcy Case 

and of zero value under the plan. 

To award the Plaintiffs such other and further relief, including reasonable costs incurred 

and attorney’s fees earned and agreed to by the Debtors in conjunction with the preparation and 

adjudication of this Complaint, as is just and proper. 

Dated this 12th day of January 2018. 

 John Taylor Jordan 

Carla Yvonne Jordan 

 By: /s/Robert B. Easterling 

Robert B. Easterling, VSB #15552 

 2217 Princess Anne Street, Suite 100-2 

 Fredericksburg, VA 22401-3359 

 (540) 373-5030 

 (540) 373-5234 facsimile 

 eastlaw@easterlinglaw.com 

Counsel for Plaintiffs

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 5 of 32
APPRAISAL GROUP OF FREDERICKSBURG

6320 FIVE MILE CENTRE PARK SUITE 323

FREDERICKSBURG, VA. 22407

(540) 786-4500 x 121

01/05/2018

JOHN & CARLA JORDAN

Re: Property: 8400 S Carolina Ct

Spotsylvania, VA 22553

Borrower: N/A

File No.: A17965.RWD

Opinion of Value: $ 320,000

Effective Date: 07/03/2017

In accordance with your request, we have appraised the above referenced property. The report of that appraisal is 

attached.

The purpose of the appraisal is to develop an opinion of market value for the property described in this appraisal 

report, as improved, in unencumbered fee simple title of ownership.

This report is based on a physical analysis of the site and improvements, a locational analysis of the neighborhood and 

city, and an economic analysis of the market for properties such as the subject. The appraisal was developed and the 

report was prepared in accordance with the Uniform Standards of Professional Appraisal Practice.

The opinion of value reported above is as of the stated effective date and is contingent upon the certification and 

limiting conditions attached.

It has been a pleasure to assist you. Please do not hesitate to contact me or any of my staff if we can be of additional 

service to you.

Sincerely,

RONALD W. DAVIS

LICENSED RESIDENTIAL

License or Certification #: 4001001363

State: VA Expires: 02/28/2018

rdavis@bestappraisal.com

EXHIBIT 1

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 6 of 32
APPRAISAL OF REAL PROPERTY

8400 S Carolina Ct

Spotsylvania, VA 22553

DAVIS-HEDGE TAX MAP# 10-A-59

JOHN & CARLA JORDAN

$320,000

07/03/2017

RONALD W. DAVIS

APPRAISAL GROUP OF FREDERICKSBURG

6320 FIVE MILE CENTRE PARK SUITE 323

FREDERICKSBURG, VA. 22407

(540) 786-4500 x 121

rdavis@bestappraisal.com

Form GA1V - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

LOCATED AT

FOR

OPINION OF VALUE

AS OF

BY

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 7 of 32
N/A

8400 S Carolina Ct

Spotsylvania SPOTSYLVANIA VA 22553

JOHN & CARLA JORDAN

Letter of Transmittal ............................................................................................................................................................................................................

Cover Page .........................................................................................................................................................................................................................

Table of Contents ...............................................................................................................................................................................................................

Summary of Salient Features ..............................................................................................................................................................................................

GP Residential ....................................................................................................................................................................................................................

Additional Comparables 4-6 ................................................................................................................................................................................................

Building Sketch ...................................................................................................................................................................................................................

SCANNED DOCUMENT .......................................................................................................................................................................................................

Comparable Sales Map .......................................................................................................................................................................................................

Flood Map ..........................................................................................................................................................................................................................

Subject Photos ...................................................................................................................................................................................................................

Comparable Photos 1-3 ......................................................................................................................................................................................................

Comparable Photos 4-6 ......................................................................................................................................................................................................

Interior Photos ....................................................................................................................................................................................................................

GP Residential Certifications Addendum .............................................................................................................................................................................

Appraiser Disclosure Statement ..........................................................................................................................................................................................

USPAP Identification ...........................................................................................................................................................................................................

Supplemental Addendum ....................................................................................................................................................................................................

SCANNED DOCUMENT .......................................................................................................................................................................................................

1

2

3

4

5

8

9

10

11

12

13

14

15

16

17

19

20

21

24

Form TOCNP - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Borrower

Lender/Client

File No.

Property Address

City County State Zip Code

TABLE OF CONTENTS

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 8 of 32
8400 S Carolina Ct

DAVIS-HEDGE TAX MAP# 10-A-59

Spotsylvania

SPOTSYLVANIA

VA

22553

0201.04

47894

Contract Price

Date of Contract

N/A

JOHN & CARLA JORDAN

3,423

AVERAGE

10

AVERAGE(-)

12

4

3.5

RONALD W. DAVIS

07/03/2017

320,000

Borrower

Lender/Client

Form SSF - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

SUMMARY OF SALIENT FEATURES

SUBJECT INFORMATION

Subject Address

Legal Description

City

County

State

Zip Code

Census Tract

Map Reference

PRICE & DATE

$

PARTIES DESCRIPTION OF IMPROVEMENTS

Size (Square Feet)

Price per Square Foot

Location

Age

Condition

Total Rooms

Bedrooms

Baths

$

APPRAISER

Appraiser

Effective Date of Appraisal

VALUE

Opinion of Value $

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 9 of 32
Appraisal Group Of Fredericksburg (540) 786-4500

RESIDENTIAL APPRAISAL REPORT A17965.RWD

8400 S Carolina Ct Spotsylvania VA 22553

SPOTSYLVANIA DAVIS-HEDGE TAX MAP# 10-A-59

10-A-59

2017 3,044.00 0 N/A

JOHN & CARLA JORDAN

0

CHANCELLOR AREA 47894 0201.04

THE INTENT OF THIS APPRAISAL IS TO EVALUATE THE SUBJECT FOR MARKET VALUE, FOR PERSONAL USE BY THE 

CLIENT REGARDING BANKRUPTCY PROCEEDINGS, RETROSPECTIVE AS OF JULY 3, 2017.

JOHN & CARLA JORDAN AND/OR ASSIGNS

JOHN & CARLA JORDAN 8400 SOUTH CAROLINA CT. SPOTSYLVANIA, VA 22553

RONALD W. DAVIS 6320 FIVE MILE CENTRE PARK STE. 323 FREDERICKSBURG, VA 22407

170,000

600,000

404,000

1

65

36

60

0

0

0

VACANT 40

THE SUBJECT PROPERTY IS 

LOCATED IN NORTHEASTERN SPOTSYLVANIA COUNTY, VA AND IS APPROXIMATELY 7 MILES WEST OF THE CITY LIMITS OF 

FREDERICKSBURG. AREA CONSISTS OF AVERAGE-GOOD QUALITY HOMES OF VARIOUS DESIGNS SITUATED ON SMALL 

ACREAGE HOMESITES. ACCESS TO MAJOR TRANSPORTATION ROUTES ARE WITHIN A CONVENIENT DISTANCE FROM THE 

AREA. ALL SUPPORT FACILITIES ARE ALSO WITHIN A CONVENIENT DISTANCE.

THE CURRENT MARKET APPEARS TO BE INCREASING OVER THE PAST 24-36 MONTHS WITH A SLIGHT SHORTAGE OF 

INVENTORY. FORECLOSURE SALES AND SHORT SALES ARE NOT A FACTOR. CONVENTIONAL LOANS AND GOVERNMENT 

BACKED/SECURED LOANS ARE TYPICAL. MARKETING TIME IS 0-6 MONTHS

RECTANGULAR (SEE GIS MAP) 2.23 ACRES

RU RURAL

0

SINGLE FAMILY RESIDENTIAL SINGLE FAMILY RESIDENTIAL

HIGHEST AND BEST USE OF THE SUBJECT PROPERTY IS SINGLE FAMILY RESIDENTIAL.

PUBLIC

NONE

WELL/PRIVATE

SEPTIC/PRIVATE

NONE

GRAVEL

NONE

NONE

NONE

NONE

LEVEL-GENTLY SLOPING

TYPICAL OF AREA

RECTANGULAR

APPEARS ADEQUATE

TYPICAL OF AREA

X 5103080050C 2/18/1998

SUBJECT IS LEVEL-GENTLY SLOPING AND IS TYPICAL OF THE NEIGHBORHOOD . SITE IS SUBJECT TO USUAL 

UTILITY EASEMENTS OF RECORD, IF ANY. SITE CONFORMS WELL WITH AREA. NO ADVERSE EASEMENTS OR ENCROACHMENTS 

NOTED AT TIME OF INSPECTION. 

1

2

CONTEMPORARY

10

20

CONC BLOCK

VINYL

SHINGLES

ALUMINUM

DBL HUNG

SCREENS

NO

YES

NONE

NONE

NONE

NONE NTD

NONE NTD

FWA

ELEC

CAC

HRDWD/CARPET

DRYWALL

PAINTED WOOD

VINYL

FBRGLASS/TILE

6 PANEL

REAR

SCREEN

1 6

2

4

GRAVEL

12 4 3.5 3,423

FLUE WITH WOODSTOVE, SCREEN PORCH, DECK, ADDITIONAL KITCHEN ON UPPER LEVEL, 2 CAR GARAGE.

SUBJECT PROPERTY IS CONSIDERED TO BE IN 

AVERAGE(-) CONDITION AT TIME OF INSPECTION. RECOMMENDED REPAIRS INCLUDE NEED FOR NEW INTERIOR PAINT, 

HARDWOOD FLOORS ARE WORN, CARPETS IN FAIR CONDITION, DAMAGE TO TOILETS & TUBS FROM HARD WATER IN WELL, 

OWNER STATES THAT THERE IS BLACK MOLD IN CRAWL SPACE AND HVAC SYSTEM NEEDS REPAIR FOR 2ND LEVEL, DECK 

SHOWS EVIDENCE OF WOOD DECAY, FOUNDATION DAMAGE AT CRAWL SPACE DOOR.

Form GPRES2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

File No.:

SUBJECT

Property Address: City: State: Zip Code:

County: Legal Description:

Assessor's Parcel #:

Tax Year: R.E. Taxes: $ Special Assessments: $ Borrower (if applicable):

Current Owner of Record: Occupant: Owner Tenant Vacant Manufactured Housing

Project Type: PUD Condominium Cooperative Other (describe) HOA: $ per year per month

Market Area Name: Map Reference: Census Tract:

ASSIGN

MENT

The purpose of this appraisal is to develop an opinion of: Market Value (as defined), or other type of value (describe)

This report reflects the following value (if not Current, see comments): Current (the Inspection Date is the Effective Date) Retrospective Prospective

Approaches developed for this appraisal: Sales Comparison Approach Cost Approach Income Approach (See Reconciliation Comments and Scope of Work)

Property Rights Appraised: Fee Simple Leasehold Leased Fee Other (describe)

Intended Use:

Intended User(s) (by name or type):

Client: Address:

Appraiser: Address:

MARKET AREA DESCRIPTION

Location: Urban Suburban Rural

Built up: Over 75% 25-75% Under 25%

Growth rate: Rapid Stable Slow

Property values: Increasing Stable Declining

Demand/supply: Shortage In Balance Over Supply

Marketing time: Under 3 Mos. 3-6 Mos. Over 6 Mos.

Predominant

Occupancy

Owner

Tenant

Vacant (0-5%)

Vacant (>5%)

One-Unit Housing

PRICE

$(000)

Low

High

Pred

AGE

(yrs)

Present Land Use

One-Unit %

2-4 Unit %

Multi-Unit %

Comm'l %

%

Change in Land Use

Not Likely

Likely * In Process *

* To:

Market Area Boundaries, Description, and Market Conditions (including support for the above characteristics and trends):

SITE DESCRIPTION

Dimensions: Site Area:

Zoning Classification: Description:

Zoning Compliance: Legal Legal nonconforming (grandfathered) Illegal No zoning

Are CC&Rs applicable? Yes No Unknown Have the documents been reviewed? Yes No Ground Rent (if applicable) $ /

Highest & Best Use as improved: Present use, or Other use (explain)

Actual Use as of Effective Date: Use as appraised in this report:

Summary of Highest & Best Use:

Utilities Public Other Provider/Description Off-site Improvements Type Public Private

Electricity

Gas

Water

Sanitary Sewer

Storm Sewer

Street

Curb/Gutter

Sidewalk

Street Lights

Alley

Topography

Size

Shape

Drainage

View

Other site elements: Inside Lot Corner Lot Cul de Sac Underground Utilities Other (describe)

FEMA Spec'l Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map Date

Site Comments:

DESCRIPTION OF THE I

MPROVE

MENTS

General Description

# of Units Acc.Unit

# of Stories

Type Det. Att.

Design (Style)

Existing Proposed Und.Cons.

Actual Age (Yrs.)

Effective Age (Yrs.)

Exterior Description

Foundation

Exterior Walls

Roof Surface

Gutters & Dwnspts.

Window Type

Storm/Screens

Foundation

Slab

Crawl Space

Basement

Sump Pump

Dampness

Settlement

Infestation

Basement None

Area Sq. Ft.

% Finished

Ceiling

Walls

Floor

Outside Entry

Heating

Type

Fuel

Cooling

Central

Other

Interior Description

Floors

Walls

Trim/Finish

Bath Floor

Bath Wainscot

Doors

Appliances

Refrigerator

Range/Oven

Disposal

Dishwasher

Fan/Hood

Microwave

Washer/Dryer

Attic None

Stairs

Drop Stair

Scuttle

Doorway

Floor

Heated

Finished

Amenities

Fireplace(s) #

Patio

Deck

Porch

Fence

Pool

Woodstove(s) #

Car Storage None

Garage # of cars ( Tot.)

Attach.

Detach.

Blt.-In

Carport

Driveway

Surface

Finished area above grade contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area Above Grade

Additional features:

Describe the condition of the property (including physical, functional and external obsolescence):

Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.

3/2007

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 10 of 32
RESIDENTIAL APPRAISAL REPORT A17965.RWD

MRIS & SPOTSYLVANIA COUNTY TAX RECORDS.

THERE ARE NO PRIOR TRANSFERS 

OF THE SUBJECT PROPERTY OR THE COMPARABLE SALES WITHIN THE PAST 36 MONTHS OF 

THIS APPRAISAL. INFORMATION VERIFIED BY SPOTSYLVANIA COUNTY TAX RECORDS. 

8400 S Carolina Ct

Spotsylvania, VA 22553

INSPECTION

TAX RECDS

N/A

Fee Simple

AVERAGE

2.23 ACRES

TYPICAL

CONTEMPORARY

AVERAGE

10

AVERAGE(-)

12 4 3.5

3,423

CRAWL SPACE

ADEQUATE

FWA/CAC

BASIC

2 CAR GAR

SCPOR,DECK

OTHER FLUE

10709 Greenwood Dr

Spotsylvania, VA 22553

5.57 miles NW

365,000

125.39

MRIS# SP9665883 DOM; 88

MRIS/CO. TAX RECORDS

Arms Length

CONV

C;09/16, S;10/16

Fee Simple

AVERAGE

5.00 ACRES -6,900

TYPICAL 

CAPE COD

GOOD -50,000

24 +7,000

GOOD -25,000

10 4 2.5 +4,000

2,911 +15,400

CRAWL SPACE

ADEQUATE

FWA/CAC

BASIC

2 CAR GAR

PORCH,DECK +500

FIREPLACE -1,500

-56,500

308,500

12732 Banner Plantation Dr

Fredericksburg, VA 22407

3.86 miles E

350,000

95.42

MRIS# SP9818622 DOM; 0

MRIS/CO. TAX RECORDS

Short Sale

CASH

C;12/16, S;03/16

Fee Simple

AVERAGE

3.08 ACRES -1,900

TYPICAL

COLONIAL

AVERAGE(+) -10,000

28 +9,000

AVERAGE -15,000

8 4 2.5 +4,000

3,668 -7,400

FULL BSMT -20,000

RR,2BR,BA,KIT -20,000

ADEQUATE

FWA/CAC

BASIC

2 CAR GAR

DECK +2,500

FIREPLACE -1,500

-60,300

289,700

9701 Renfield Ct

Spotsylvania, VA 22553

4.58 miles SE

455,000

135.10

MRIS# SP9903984 DOM; 371

MRIS/CO. TAX RECORDS

Arms Length

VA

C;04/17, S;05/17

Fee Simple

AVERAGE

1.54 ACRES +1,700

TYPICAL 

COLONIAL

GOOD -50,000

7 -1,500

GOOD -25,000

10 4 2.5 +4,000

3,368 +1,600

FULL BSMT -20,000

FR,DEN,OFF,BA -15,000

AVERAGE

FWA/CAC

BASIC

2 CAR GAR

PORCH,PATIO +1,000

FIREPLACE -1,500

-104,700

350,300

ALL COMPARABLE SALES USED IN THIS ESTIMATE OF VALUE ARE CONSIDERED TO BE THE 

BEST AND MOST CURRENT SALES AVAILABLE AND ARE THE BEST INDICATORS OF VALUE AT THIS TIME. SALES WERE CHOSEN 

BASED ON SALE DATE, GROSS LIVING AREA (GLA), FUNCTIONAL UTILITY, ROOM COUNT AND NUMBER OF BEDROOMS AND 

BATHS. ALL COMPARABLE SALES ARE SUPERIOR IN CONDITION AS THE SUBJECT NEEDS REPAIRS. (SEE LIST OF 

RECOMMENDED REPAIRS). SALES #1 AND #3 ARE SUPERIOR IN QUALITY OF CONSTRUCTION. SALE #2 IS A SHORT SALE 

HOWEVER WAS USED TO BRACKET GROSS LIVING AREA AS WELL AS THIS DWELLING HAS AN ADDITIONAL KITCHEN SIMILAR 

TO THAT OF THE SUBJECT.

320,000

Form GPRES2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

File No.:

TRANSFER HISTORY

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):

1st Prior Subject Sale/Transfer

Date:

Price:

Source(s):

2nd Prior Subject Sale/Transfer

Date:

Price:

Source(s):

Analysis of sale/transfer history and/or any current agreement of sale/listing:

SALES CO

MPARISON APPROACH

SALES COMPARISON APPROACH TO VALUE (if developed) The Sales Comparison Approach was not developed for this appraisal.

FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3

Address

Proximity to Subject

Sale Price $ $$$

Sale Price/GLA $ /sq.ft. $ /sq.ft. $ /sq.ft. $ /sq.ft.

Data Source(s)

Verification Source(s)

VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjust. DESCRIPTION +(-) $ Adjust. DESCRIPTION +(-) $ Adjust.

Sales or Financing

Concessions

Date of Sale/Time

Rights Appraised

Location

Site

View

Design (Style)

Quality of Construction

Age

Condition

Above Grade Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths

Room Count

Gross Living Area sq.ft. sq.ft. sq.ft. sq.ft.

Basement & Finished

Rooms Below Grade

Functional Utility

Heating/Cooling

Energy Efficient Items

Garage/Carport

Porch/Patio/Deck

Net Adjustment (Total) +- +- +- $$$

Adjusted Sale Price

of Comparables $$$

Summary of Sales Comparison Approach

Indicated Value by Sales Comparison Approach $

Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.

3/2007

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 11 of 32
RESIDENTIAL APPRAISAL REPORT A17965.RWD

COST APPROACH NOT NECESSARY AS 

THIS APPRAISAL IS NOT FOR MORTGAGE PURPOSES.

0

0 00

INCOME APPROACH TO VALUE NOT USED DUE TO PREDOMINANCE OF 

OWNER OCCUPIED DWELLINGS.

320,000 0 0

THE SALES COMPARISON APPROACH IS THE BEST INDICATOR OF VALUE AND REFLECTS THE ATTITUDES OF 

BUYERS AND SELLERS IN TODAYS MARKET. COST APPROACH AND INCOME APPROACH TO VALUE NOT UTILIZED IN THIS 

APPRAISAL REPORT.

THIS APPRAISAL 

REPORT IS MADE "AS IS" .

320,000 07/03/2017

24

Scope of Work Limiting Cond./Certifications Narrative Addendum Photograph Addenda Sketch Addendum

Map Addenda Additional Sales Cost Addendum Flood Addendum Manuf. House Addendum

Hypothetical Conditions Extraordinary Assumptions

JOHN & CARLA JORDAN

8400 SOUTH CAROLINA CT. SPOTSYLVANIA, VA 22553

RONALD W. DAVIS

APPRAISAL GROUP OF FREDERICKSBURG

(540) 786-4500 x 121 540-785-5604

rdavis@bestappraisal.com

01/05/2018

4001001363 VA

LICENSED RESIDENTIAL

02/28/2018

12/28/2017

Form GPRES2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

File No.:

COST APPROACH

COST APPROACH TO VALUE (if developed) The Cost Approach was not developed for this appraisal.

Provide adequate information for replication of the following 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

Source of cost data:

Quality rating from cost service: Effective date of cost data:

OPINION OF SITE VALUE =$

DWELLING Sq.Ft. @ $ =$

Sq.Ft. @ $ =$

Sq.Ft. @ $ =$

Sq.Ft. @ $ =$

Sq.Ft. @ $ =$

=$

Garage/Carport Sq.Ft. @ $ =$

Total Estimate of Cost-New =$

Less Physical Functional External

Depreciation =$( )

Depreciated Cost of Improvements =$

''As-is'' Value of Site Improvements =$

=$

=$

INDICATED VALUE BY COST APPROACH =$

Comments on Cost Approach (gross living area calculations, depreciation, etc.):

Estimated Remaining Economic Life (if required): Years

INCO

ME APPROACHINCOME APPROACH TO VALUE (if developed) The Income Approach was not developed for this appraisal.

Estimated Monthly Market Rent $ X Gross Rent Multiplier = $ Indicated Value by Income Approach

Summary of Income Approach (including support for market rent and GRM):

PUD

PROJECT INFORMATION FOR PUDs (if applicable) The Subject is part of a Planned Unit Development.

Legal Name of Project:

Describe common elements and recreational facilities:

RECONCILIATION

Indicated Value by: Sales Comparison Approach $ Cost Approach (if developed) $ Income Approach (if developed) $

Final Reconciliation

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, subject to

the following required inspection based on the Extraordinary Assumption that the condition or deficiency does not require alteration or repair:

This report is also subject to other Hypothetical Conditions and/or Extraordinary Assumptions as specified in the attached addenda.

Based on the degree of inspection of the subject property, as indicated below, defined Scope of Work, Statement of Assumptions and Limiting Conditions,

and Appraiser’s Certifications, my (our) Opinion of the Market Value (or other specified value type), as defined herein, of the real property that is the subject

of this report is: $ , as of: , which is the effective date of this appraisal.

If indicated above, this Opinion of Value is subject to Hypothetical Conditions and/or Extraordinary Assumptions included in this report. See attached addenda.

ATTACH

MENTSA true and complete copy of this report contains pages, including exhibits which are considered an integral part of the report. This appraisal report may not be

properly understood without reference to the information contained in the complete report.

Attached Exhibits:

SIGNATURES

Client Contact: Client Name:

E-Mail: Address:

APPRAISER

Appraiser Name:

Company:

Phone: Fax:

E-Mail:

Date of Report (Signature):

License or Certification #: State:

Designation:

Expiration Date of License or Certification:

Inspection of Subject: Interior & Exterior Exterior Only None

Date of Inspection:

SUPERVISORY APPRAISER (if required)

or CO-APPRAISER (if applicable)

Supervisory or

Co-Appraiser Name:

Company:

Phone: Fax:

E-Mail:

Date of Report (Signature):

License or Certification #: State:

Designation:

Expiration Date of License or Certification:

Inspection of Subject: Interior & Exterior Exterior Only None

Date of Inspection:

Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.

3/2007

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ADDITIONAL COMPARABLE SALES

8400 S Carolina Ct

Spotsylvania, VA 22553

INSPECTION

TAX RECDS

N/A

Fee Simple

AVERAGE

2.23 ACRES

TYPICAL

CONTEMPORARY

AVERAGE

10

AVERAGE(-)

12 4 3.5

3,423

CRAWL SPACE

ADEQUATE

FWA/CAC

BASIC

2 CAR GAR

SCPOR,DECK

OTHER FLUE

13600 Fox Chase Ln

Spotsylvania, VA 22553

5.50 miles NW

370,000

120.09

MRIS# SP9613676 DOM; 41

MRIS/CO. TAX RECORDS

Arms Length

CONV

C;05/16, S;07/16

Fee Simple

AVERAGE

1.02 ACRES +3,000

TYPICAL 

CAPE COD

AVERAGE(+) -25,000

17 +3,500

GOOD -25,000

10 3 2.5 +4,000

3,081 +10,300

CRAWL SPACE

ADEQUATE

FWA/CAC

BASIC

2 CAR GAR

PORCH,DECK +500

FIREPLACE -1,500

-30,200

339,800 0 0

SALE #4 IS SLIGHTLY SIMILAR TO THE SUBJECT IN GROSS LIVING AREA AND DOES NOT HAVE 

A BASEMENT. SALE #4 WAS USED TO SUPPORT VALUE. 

Form GPRES2.(AC) - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

4 5 6

File No.:

SALES CO

MPARISON APPROACH

FEATURE SUBJECT COMPARABLE SALE # COMPARABLE SALE # COMPARABLE SALE #

Address

Proximity to Subject

Sale Price $ $$$

Sale Price/GLA $ /sq.ft. $ /sq.ft. $ /sq.ft. $ /sq.ft.

Data Source(s)

Verification Source(s)

VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjust. DESCRIPTION +(-) $ Adjust. DESCRIPTION +(-) $ Adjust.

Sales or Financing

Concessions

Date of Sale/Time

Rights Appraised

Location

Site

View

Design (Style)

Quality of Construction

Age

Condition

Above Grade Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths

Room Count

Gross Living Area sq.ft. sq.ft. sq.ft. sq.ft.

Basement & Finished

Rooms Below Grade

Functional Utility

Heating/Cooling

Energy Efficient Items

Garage/Carport

Porch/Patio/Deck

Net Adjustment (Total) +- +- +- $$$

Adjusted Sale Price

of Comparables $$$

Summary of Sales Comparison Approach

Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.

3/2007

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Form SKT.BLDSKI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Building Sketch

N/A

8400 S Carolina Ct

Spotsylvania SPOTSYLVANIA VA 22553

JOHN & CARLA JORDAN

Borrower

Lender/Client

Property Address

City County State Zip Code

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 14 of 32
GIS MAP OF SUBJECT

Form SCNLGL - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

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Form MAP.LOC - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Comparable Sales Map

N/A

8400 S Carolina Ct

Spotsylvania SPOTSYLVANIA VA 22553

JOHN & CARLA JORDAN

Borrower

Lender/Client

Property Address

City County State Zip Code

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 Document Page 16 of 32
Form MAP.FLOOD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Flood Map

N/A

8400 S Carolina Ct

Spotsylvania SPOTSYLVANIA VA 22553

JOHN & CARLA JORDAN

Borrower

Lender/Client

Property Address

City County State Zip Code

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 Document Page 17 of 32
Form PICPIX.SR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Subject Photo Page

N/A

8400 S Carolina Ct

Spotsylvania SPOTSYLVANIA VA 22553

JOHN & CARLA JORDAN

Subject Front

Sales Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

8400 S Carolina Ct

3,423

12

4

3.5

AVERAGE

TYPICAL

2.23 ACRES

AVERAGE

10

Subject Rear

Subject Street

Borrower

Lender/Client

Property Address

City County State Zip Code

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 18 of 32
Form PICPIX.CR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Comparable Photo Page

N/A

8400 S Carolina Ct

Spotsylvania SPOTSYLVANIA VA 22553

JOHN & CARLA JORDAN

Comparable 1

Prox. to Subject

Sale Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

10709 Greenwood Dr

5.57 miles NW

365,000

2,911

10

4

2.5

AVERAGE

TYPICAL 

5.00 ACRES

GOOD

24

Comparable 2

Prox. to Subject

Sale Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

12732 Banner Plantation Dr

3.86 miles E

350,000

3,668

8

4

2.5

AVERAGE

TYPICAL

3.08 ACRES

AVERAGE(+)

28

Comparable 3

Prox. to Subject

Sale Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

9701 Renfield Ct

4.58 miles SE

455,000

3,368

10

4

2.5

AVERAGE

TYPICAL 

1.54 ACRES

GOOD

7

Borrower

Lender/Client

Property Address

City County State Zip Code

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 19 of 32
Form PICPIX.CR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Comparable Photo Page

N/A

8400 S Carolina Ct

Spotsylvania SPOTSYLVANIA VA 22553

JOHN & CARLA JORDAN

Comparable 4

Prox. to Subject

Sale Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

13600 Fox Chase Ln

5.50 miles NW

370,000

3,081

10

3

2.5

AVERAGE

TYPICAL 

1.02 ACRES

AVERAGE(+)

17

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

Borrower

Lender/Client

Property Address

City County State Zip Code

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 20 of 32
Form PICINT15 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Interior Photos

N/A

8400 S Carolina Ct

Spotsylvania SPOTSYLVANIA VA 22553

JOHN & CARLA JORDAN

BEDROOM BATH BEDROOM

KITCHEN LIVING ROOM DEN

1/2 BATH MASTER BEDROOM MASTER BATH

BEDROOM BATH ADDITIONAL KITCHEN

FAMILY ROOM SIDE VIEW SIDE VIEW

Borrower

Lender/Client

Property Address

City County State Zip Code

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 21 of 32
Assumptions, Limiting Conditions & Scope of Work

8400 S Carolina Ct Spotsylvania VA 22553

JOHN & CARLA JORDAN 8400 SOUTH CAROLINA CT. SPOTSYLVANIA, VA 22553

RONALD W. DAVIS 6320 FIVE MILE CENTRE PARK STE. 323 FREDERICKSBURG, VA.

STATEMENT OF ASSUMPTIONS & LIMITING CONDITIONS

- 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 show approximate dimensions of the improvements, and any such sketch 

is included only to assist the reader of the 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 Management Agency (or other 

data sources) and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the 

appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination.

- 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.

- If the cost approach is included in this appraisal, the appraiser has estimated the value of the land in the cost approach at its highest and best 

use, and the improvements at their contributory value. These separate valuations of the land and improvements must not be used in conjunction 

with any other appraisal and are invalid if they are so used. 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 

of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property, or that he or she became aware of during the 

normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any

hidden or unapparent conditions of the property, or adverse environmental conditions (including, 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 of the property. The appraiser will not be responsible for any

such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the 

appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment of 

the property.

- The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she 

considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items 

that were furnished by other parties.

- The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal 

Practice, and any applicable federal, state or local laws.

- If this 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 of the 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 of disclosure requirements 

applicable to the appraiser's client do not become intended users of this 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 of real property is not a 'home inspection' and should not be construed as such. As part of the 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 of value. Clients with concerns about such potential negative factors 

are encouraged to engage the appropriate type of expert to investigate.

The Scope of Work is the type and extent of research and analyses performed in an appraisal assignment that is required to produce credible 

assignment results, given the nature of the appraisal problem, the specific requirements of the intended user(s) and the intended use of the 

appraisal report. Reliance upon this report, regardless of how acquired, by any party or for any use, other than those specified in this report by

the Appraiser, is prohibited. The Opinion of Value that is the conclusion of this report is credible only within the context of the Scope of Work,

Effective Date, the Date of Report, the Intended User(s), the Intended Use, the stated Assumptions and Limiting Conditions, any Hypothetical 

Conditions and/or Extraordinary Assumptions, and the Type of Value, 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 of this report or its conclusions.

Additional Comments (Scope of Work, Extraordinary Assumptions, Hypothetical Conditions, etc.):

Form GPRES2AD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

File No.:

Property Address: City: State: Zip Code:

Client: Address:

Appraiser: Address:

Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.

3/2007

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 22 of 32
Certifications

8400 S Carolina Ct Spotsylvania VA 22553

JOHN & CARLA JORDAN 8400 SOUTH CAROLINA CT. SPOTSYLVANIA, VA 22553

RONALD W. DAVIS 6320 FIVE MILE CENTRE PARK STE. 323 FREDERICKSBURG, VA.

APPRAISER'S CERTIFICATION

I certify that, to the best of my knowledge and belief:

- The statements of fact contained in this report are true and correct.

- The credibility of this report, for the stated use by the stated user(s), of the reported analyses, opinions, and conclusions are limited only by

the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, and 

conclusions.

- I have no 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 indicated, I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of 

this report within the three-year period immediately preceding acceptance of this assignment.

- I have no bias with respect to the property that is the subject of this report or to 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.

- I did not base, either partially or completely, my analysis and/or the opinion of value in the appraisal report on the race, color, religion,

sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property, or of the present 

owners or occupants of the properties in the vicinity of the subject property.

- 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.

Additional Certifications:

DEFINITION OF 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 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 acting in what they consider their own best interests;

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. 

* This definition is from regulations published by federal regulatory agencies pursuant to Title XI of the Financial Institutions 

Reform, Recovery, and Enforcement Act (FIRREA) of 1989 between July 5, 1990, and August 24, 1990, by the Federal Reserve System 

(FRS), National Credit Union Administration (NCUA), Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS),

and the Office of Comptroller of the Currency (OCC). This definition is also referenced in regulations jointly published by the OCC, OTS,

FRS, and FDIC on June 7, 1994, and in the Interagency Appraisal and Evaluation Guidelines, dated October 27, 1994.

JOHN & CARLA JORDAN

8400 SOUTH CAROLINA CT. SPOTSYLVANIA, VA 22553

RONALD W. DAVIS

APPRAISAL GROUP OF FREDERICKSBURG

(540) 786-4500 x 121 540-785-5604

rdavis@bestappraisal.com

01/05/2018

4001001363 VA

LICENSED RESIDENTIAL

02/28/2018

12/28/2017

Form GPRES2AD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

File No.:

Property Address: City: State: Zip Code:

Client: Address:

Appraiser: Address:

SIGNATURES

Client Contact: Client Name:

E-Mail: Address:

APPRAISER

Appraiser Name:

Company:

Phone: Fax:

E-Mail:

Date Report Signed:

License or Certification #: State:

Designation:

Expiration Date of License or Certification:

Inspection of Subject: Interior & Exterior Exterior Only None

Date of Inspection:

SUPERVISORY APPRAISER (if required)

or CO-APPRAISER (if applicable)

Supervisory or

Co-Appraiser Name:

Company:

Phone: Fax:

E-Mail:

Date Report Signed:

License or Certification #: State:

Designation:

Expiration Date of License or Certification:

Inspection of Subject: Interior & Exterior Exterior Only None

Date of Inspection:

Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.

3/2007

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 23 of 32
RONALD W. DAVIS

4001001363

VA 02/28/2018

Form DISA LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

APPRAISER DISCLOSURE STATEMENT

File No.

Name of Appraiser:

Class of Certification/Licensure: Certified General

Certified Residential

Licensed Residential

Temporary General Licensed

Certification/Licensure Number:

Certification/Licensure State: Expires:

Scope: This Report is within the scope of my Certification or License

is not within the scope of my Certification or License

Service Provided By: Disinterested & Unbiased Third Party

Interested & Biased Third Party

Interested Third Party on Contingent Fee Basis

Signature of person preparing and reporting the Appraisal:

This form must be included in conjunction with all appraisal assignments or specialized services

performed by a state-certified or state-licensed real estate appraiser.

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 24 of 32
N/A

8400 S Carolina Ct

Spotsylvania SPOTSYLVANIA VA 22553

JOHN & CARLA JORDAN

APPRAISAL AND REPORT IDENTIFICATION

2-2(a)

2-2(b)

Comments on Standards Rule 2-3

I certify that, to the best of my knowledge and belief:

- The statements of fact contained in this report are true and correct.

- The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, impartial, and unbiased professional 

analyses, opinions, and conclusions.

- 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.

- Unless otherwise indicated, I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year 

period immediately preceding acceptance of this assignment.

- 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).

Comments on Appraisal and Report Identification

Note any USPAP related issues requiring disclosure and any State mandated requirements:

Digital Signatures: This appraisal has been signed with a password protected digital signature. Electronically affixing a signature to a report 

carries the same level of authenticity and responsibility as an ink signature on a paper copy report. This digital signature can only be affixed 

to, or removed from, the appraisal report by the signatory by means of a confidential password. Not other individual has any knowledge of 

the password or is authorized to affix or delete such digital signature from the appraisal report or any attachments thereto. The appraiser 

certifies that these safeguards, for the protection and affixation of the signature, have been observed.

Digital Images: Digitized images, such as photographs, maps, exhibits, etc., contained in this report, are unaltered from their original 

likeness. Digital images may, however, have been modified for formatting, for example: cropping, brightness or resolution. These 

modifications are made only to reduce file size or enhance readability and do not manipulate the original likeness. Some photos were taken 

from various multiple listing services and are considered to best represent the comparable sales at the time of the listing.

Exposure Time 6-12 months: the estimated length of time that the property interest being appraised would have been offered on the market 

prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal. Marketing time is considered to be 6 

to 12 months for the subject based on market research.

I have performed no other services, as an appraiser or in any other capacity, regarding the property that is the subject of the work under 

review within the three year period immediately preceding acceptance of this assignment.

Fee for appraisal services is $400.00

RONALD W. DAVIS

LICENSED RESIDENTIAL

4001001363

VA 02/28/2018

01/05/2018

07/03/2017

12/28/2017

Form ID14 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Borrower

Lender/Client

File No.

Property Address

City County State Zip Code

This Report is one of the following types:

Appraisal Report (A written report prepared under Standards Rule , pursuant to the Scope of Work, as disclosed elsewhere in this report.)

Restricted

Appraisal Report

(A written report prepared under Standards Rule , pursuant to the Scope of Work, as disclosed elsewhere in this report,

restricted to the stated intended use by the specified client or intended user.)

APPRAISER:

Signature:

Name:

State Certification #:

or State License #:

State: Expiration Date of Certification or License:

Date of Signature and Report:

Effective Date of Appraisal:

Inspection of Subject: None Interior and Exterior Exterior-Only

Date of Inspection (if applicable):

SUPERVISORY or CO-APPRAISER (if applicable):

Signature:

Name:

State Certification #:

or State License #:

State: Expiration Date of Certification or License:

Date of Signature:

Inspection of Subject: None Interior and Exterior Exterior-Only

Date of Inspection (if applicable):

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 25 of 32
Purpose, Scope & Synopsis The scope of the appraisal basically provides for a thorough physical inspection of the subject property and its

environs sufficient to gather all pertinent data to form a market value conclusion. The attributes of the subject property are compared to the

most comparable data available including properties presently offered for sale, properties currently under contract for sale and sold properties

where title has fully transferred (i.e. Closed sales). An exterior inspection of the comparable sales is made. Specifics regarding physical features

of the comparable properties and the terms of sale are verified with parties to the transaction, public records of the jurisdiction and public

reporting subscriptions services such as dator, msi, redi, lusk and vared. The subject and comparable properties are compared regarding the

four major elements of comparison (i.e., Location, date of sale, physical characteristics, improvements and conditions of sale), including all

sub-elements. The necessary market extracted adjustments are then utilized to derive an indicated value by direct sales comparison. The cost

and income approach are also considered depending on their applicability. After considering all three approaches to value, the appraiser follows

a thoughtful and thorough reconciliation process to arrive at the market value estimate, as defined as of the effective date of the appraisal as

stated in the report. The scope of work rule in revised uspap for July 1, 2006 acknowledges that appraisers have broad flexibility and significant

responsibility in determining the appropriate scope of work.

The Comments in this addendum are intended to expand on what the appraiser feels are the areas of most importance to the reader to fully

understand the appraisal report and methodology. The expanded narrative allows the appraiser to provide additional comments where sufficient

space is not available on the appraisal form. The market has been thoroughly searched and the comparable sales reported are in the appraiser's

opinion the best sales available that weigh the four major elements of comparison. Their photos are representative of the properties at the time

of marketing and are best representative of their condition to the buyers market. This appraisal is no substitute for a home inspection, or for a

buyer walk-through inspection.

Expanded Scope of Work Statement At the request of the client, this appraisal report has been prepared in compliance with the uniform

appraisal dataset (uad) from Fannie Mae and Freddie Mac. The uad requires the appraiser to use standardized responses that include specific

formats, definitions, abbreviations, and acronyms.

The Appraiser attempted to obtain an adequate amount of information in the normal course of business regarding the subject and comparable

properties. Some of the standardized responses required by the uad, especially those in which the appraiser has not had the opportunity to

verify personally or measure, could mistakenly imply greater precision and reliability in the data than is factually correct or typical in the normal

course of business. Examples include condition and quality ratings as well as comparable sales and listing data. The appraiser makes no

representations, guarantees or warranties, express or implied, regarding building materials, their fitness, quality, condition or remaining

economic life. Not every element of the subject property is viewable. The appraiser did not move any personal property, due to liability

concerns for potential damage to the property, to disclose or reveal any unapparent or hidden defects to the structure, nor did the appraiser

dismantle or probe the structure to observe enclosed, encased, or otherwise concealed areas. Comparable data was generally obtained from

third-party sources including but not limited to the local mls, county assessor, township assessor, online resources and additional public data

sources. Consequently, this information should be considered an "estimate" unless otherwise noted by the appraiser.

Predominant Value The one unit housing values, from page 1, are based on the entire market researched in the process of determining an

opinion of value for the subject. This price range includes all types and sizes of similar properties with varying degrees of quality of construction

and condition of homes. This does not make the subject an under-improvement or an over-improvement in the opinion of the appraiser, rather

typical for homes most similar to the subject. This range is not limited to those prices listed on page 1 due to the existence of properties outside

the search criteria for the subject.

Subject Features The subject's features are not unique when compared to other properties in the neighborhood. They fall within the range of

typical features for example: condition, size, design style, room count, floor plan, quality, and functional utility. The subject is not considered an

over or under improvement for the market area and has no marketability concerns. (unless stated otherwise within this report)

Personal property No items of personal property, which include appliances, are included in the opinion of market value for the subject.

Permits This Appraisal is based on the assumption that the subject's improvements have been built to all applicable state and local building

codes and all required permits have been obtained.

Search criteria Comparable sales as shown in the report are considered to be the best available from the market search that balances the four

major elements of comparison: location, time of sale, style and appeal . the appraiser used information from the local multiple listing service,

mris, and in-house files to obtain the optimum comparable sales. The original search parameters were the subject's market area of properties of

similar acreage, lot physical features, home design style, square footage, and condition. This search included sales within a twelve month date of

sale.this Search was further narrowed or expanded to best support the qualities of the subject in comparison to the sales in the market. It was

necessary to research and/or use comparable sales that were foreclosure or short sales due to their availability in the current market. New

construction active and under contract properties and sales are not always listed in mris by builders/developers; therefore, additional data may

be unavailable to the appraiser. 

Location of the comparables Although some comparables in the subject market area may be located on the other side of a major roadway or

interstate, in the opinion of the appraiser, this does not have an affect on the marketability of the subject.

Comparable Distance from subject It was necessary for the appraiser to broaden the market search to obtain comparables beyond one mile

with similar utility, style, effective age and sale dates reflective of the current market conditions. Based on accepted appraisal practice with

emphasis place on weighing the elements of comparison, the sales chosen represent the best indication of the subjects current market value. In

the appraisers opinion, the sales chosen best weigh the elements of comparison and while the distance from the subject property is very

important, various factors within the elements of comparison require a wider market search than one mile. 

Comparables sold over 6 months ago it was necessary to analyze comparable sale that may have occurred over 6 months prior to the

appraisal date. This was necessary to properly balance the four major elements of comparison. The older sales after adjustments are considered

to best reflect the subject's current market value. Other sales would have required less desirable adjustments and would have reduced the

reliability of the subject's indicated value.

Creative Financing and/or sales concessions to the best knowledge of the appraiser, all comparable sales were sold with no special or

creative financing or sales concessions. Closing costs paid by the sellers of these comparable properties are equivalent to typical financing terms

offered by third institutional lenders in the local market. In the appraiser's opinion, these sales represent market financing transactions and

reflect the value of the real estate. The sales prices are not considered to be inflated due to special or excessive financing concessions. The

indicated values of the comparable sales reflect the value of the subject real estate and include only those seller closing costs normally paid by

tradition or law in the market area.

Digital Images and comparable photos digitized images, such as photographs, maps, exhibits, etc., Contained in this report, are unaltered

from their original likeness. Digital images may, however, have been modified for formatting, for example: cropping, brightness or resolution. 

These modifications are made only to reduce file size or enhance readability and do not manipulate the original likeness. 

Some comparable photos were obtained from various multiple listing services and/or on-line. They are considered to best represent the

comparable sales at the time of the listing. Use of any mls photos was due to a lack of visibility of the comparables from the street, a street with

Supplemental Addendum

Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

N/A

8400 S Carolina Ct

Spotsylvania SPOTSYLVANIA VA 22553

JOHN & CARLA JORDAN

Borrower

Lender/Client

Property Address

City County State Zip Code

File No.

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 26 of 32
no safe pull-over area, or a street that prevents safe stopping due to high volume traffic. A mls comparable photo may also be used because the

homeowner of a comparable viewed the photo taking process as an intrusion causing a threatening atmosphere for the appraiser.

Adjustments All Adjustment made for comparable dissimilarities are market derived according to fnma guidelines. Comparable adjustments are

made as warranted when market research deems verifiable, justifiable, and credible. Due to the lack of recent matched pair analysis data, the

gross living area adjustment is based on a depreciated cost basis. 

Site adjustment The adjustments for site size are based on market abstraction and contributory value. Above a certain point each additional

increment of land area contributes less on a per acre or per square foot basis than the initial minimum site size for the area, thus a constant

dollar per acre or square foot adjustment was not utilized. This concept relates to diminishing marginal utility. All physical factors of the subject

and comparables sites have been weighed in arriving at site adjustments or lack thereof.

Net Adjustments Net adjustments for some comparables may exceed 15%. The adjustment is larger than optimum, but the sales selected are

considered to be the best available from the market search that balance the four major elements of comparison. Other sales analyzed would

have introduced other less desirable adjustments that would, in the opinion of the appraiser, reduce the reliability of the subject's indicated

value.

 

Gross adjustments Gross adjustments for some comparables may exceed 25%. The adjustment is larger than optimum, but the sales selected

are considered to be the best available form the market search that balanced the four major elements of comparison. Other sales analyzed

would have introduced other less desirable adjustments that would, in the opinion of the appraiser, reduce the reliability of the subject's

indicated value.

Mold The appraiser is not a home or environmental inspector. The appraiser provides an opinion of value. The appraisal does not guarantee that

the property is free defects or environmental problems. The appraiser performs an inspection of visible and accessible area only. Mold may be

present in areas the appraiser cannot see. A professional home inspection or environmental inspection in recommended. 

Environmental disclaimer The appraiser has not been informed, nor has the appraiser any knowledge of the existence of any environmental

or health impediment, which if known, could have a negative impact on the market value of the subject property. The valuation contained

herein is not valid if any hazardous items are found in the subject property and not stated within the appraisal report, including but not limited

to: ureaformaldehyde foam insulation, radon gas, asbestos products, lead or lead based products, toxic waste contaminates.

Energy Efficient items Energy efficient items shown in the grid as 'typical', meaning that there does not appear to be any other energy

efficient features in the subject or any of the comparables other than what is anticipated in the subject's market. Typical eei are: insulated

windows & doors, ceiling fans; floor, wall and/or ceiling insulation at or above code, etc.

Privacy Statement Pursuant to the Gramm-leach-Bliley act of 1999, effective July 1, 2001, appraisers along with all providers of personal

financial services are now required by federal law to inform their clients of the policies of the firm with regard to the privacy of client, nonpublic

personal information. As professionals we understand that personal privacy is very important and are pleased to provide this information.

1. Types of nonpublic personal information we collect:

we neither collect nor store any financial, credit of personal data. Property tax assessments, sales price and type of financing are public data.

The size, condition and quality of construction of a property can be found in public records.

2. Parties to whom we disclose information:

we provided information only to the client names as the intended user of this report and to any public agencies which might have authority to

request said information under the law and in accordance with the confidentiality section of the ethics rule of the uniform standards of

professional appraisal practice effective July 1, 2001. 

Data Information on subject and comparable sales data which was used in this report was provided by financial institutions, government

agencies, sales agents, real estate firms and tax records which were available at the time of inspection. As tax records are only periodically

updated and sometimes incomplete, it is necessary to supplement some sales data with real estate firms and their information services and also

to have field estimates of square footage. This information is assumed to be true, correct, and reliable. No responsibility for the accuracy of

such information is assumed by the appraiser. Opinions and estimates expressed herein represent our best judgment but should not be

construed as advice or recommendation to act. Any actions taken by you, the client, or any others should be based upon your own judgment,

and the decision process should consider many factors other than just the value estimated and information given in this report. The appraiser

should be contacted with any questions before this report is relied upon for decision making. This appraisal is an estimate of value based on an

analysis of information known to us at the time the appraisal was completed. We do not assume any responsibility for incorrect analysis because

of incorrect or incomplete information which was provided to the appraiser. If new data or documentation is provided to the appraiser, the value

in this report is subject to change based on the significance of this new data.

Highest And Best Use The highest and best use of this property or any property is that use which is legally permissible, physically possible and

capable of producing the highest net return to the owner and finally, producing the highest present worth among feasible uses. Based on an

examination of the subject's physical and legal characteristics, the most profitable use would be to develop with a single-family home. The

immediate neighboring properties which are adjacent to the subject are residential in nature. It is located in a zoning district that allows for a

single family dwelling and is in an area close to other residential developments. Linkages and retail and commercial establishments are located

within reasonable distances. Therefore, it is physically possible to develop the subject, limited only by its size and terrain.

WELL WATER

The subject property does not have access to public water. The appraiser is not aware of any announced plans to provide

public water to the subject site. Private well water systems are typical of the area and this factor will not negatively impact the

subject's marketability or market value. The appraiser assumes that the well meets municipal testing standards. A well test by a

private or municipal lab is sufficient to certify well compliance to local standards. This appraisal documentation does not certify

the well to local standards. A well certification may be required at client's option 

SEPTIC

The subject property does not have access to public sewer. In the current market area, this does not have a negative impact on

the market value of the subject property. The appraiser is not aware of any announced plans to provide public sewer to the

subject site. Private septic systems are typical of the area and the appraiser assumes that the septic system "percs" for the

minimum of required number bedrooms. A septic system test by a private or municipal lab is sufficient documentation to certify

the "perc" rate. This appraisal documentation does not certify the septic system.. A septic certification may be required at the

client's option. 

Supplemental Addendum

Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

N/A

8400 S Carolina Ct

Spotsylvania SPOTSYLVANIA VA 22553

JOHN & CARLA JORDAN

Borrower

Lender/Client

Property Address

City County State Zip Code

File No.

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 27 of 32
Supplemental Addendum

Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

N/A

8400 S Carolina Ct

Spotsylvania SPOTSYLVANIA VA 22553

JOHN & CARLA JORDAN

Borrower

Lender/Client

Property Address

City County State Zip Code

File No.

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 28 of 32
APPRAISERS LICENSE

Form SCNLGL - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Case 17-33374-KRH Doc 37 Filed 01/15/18 Entered 01/15/18 15:58:55 Desc Main

 Document Page 29 of 32
EXHIBIT 2

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 Document Page 31 of 32
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 Document Page 32 of 32