Court filing
Exhibit Appraisal of Roger Davis' home — USA v. Davis (Dkt. 66.5)
Filed June 10, 2025 in USA v. Davis; one of 63 filings from this case.
Record facts
| Court | U.S. District Court for the Eastern District of Virginia |
|---|---|
| Filed | 2025-06-10 |
U.S. District Court for the Eastern District of Virginia · No. 1:24-cr-00040-PTG · Doc. 66-5 · 2025-06-10 · Docket on CourtListener
Full text
Form NIV1 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
US Appraisals
Udo Stolarczuk
1013 Spoonbill Cir
Weston, FL 33326-3358
(305) 772-9691
Roger Davis
136 Golden Isles Dr
#202
Hallandale Beach, FL 33009
305-794-2746
Rogerlaw1@aol.com
US4757
Dec 12, 2024
US4757
US4757
N/A
Roger Davis
Roger Davis
136 Golden Isles Dr
Hallandale Beach
Broward
FL
33009
Captains Paradise Condo Unit 202 & Boat Slip 6 Per CDO BK/PK:8924/88
1073 Condo-Interior
550.00
1004MC Addendum
550.00
Cash
12/12/2024
100.00
100
450.00
Roger Davis
136 Golden Isles Dr
#202
Hallandale Beach, FL 33009
305-794-2746
Rogerlaw1@aol.com
Udo Stolarczuk
1013 Spoonbill Cir
Weston, FL 33326-3358
450.00
US4757
Dec 12, 2024
US4757
US4757
INVOICE
FROM:
Telephone Number:
Fax Number:
TO:
Telephone Number:
Fax Number:
Alternate Number:
E-Mail:
INVOICE NUMBER
DATE
REFERENCE
Internal Order #:
Lender Case #:
Client File #:
Main File # on form:
Other File # on form:
Federal Tax ID:
Employer ID:
Lender:
Client:
Purchaser/Borrower:
Property Address:
City:
County:
State:
Zip:
Legal Description:
$
DESCRIPTION
FEES
AMOUNT
SUBTOTAL
PAYMENTS
AMOUNT
Check #:
Date:
Description:
Check #:
Date:
Description:
Check #:
Date:
Description:
SUBTOTAL
TOTAL DUE
Please Return This Portion With Your Payment
FROM:
Telephone Number:
Fax Number:
Alternate Number:
E-Mail:
TO:
INVOICE NUMBER
DATE
REFERENCE
AMOUNT DUE:
$
AMOUNT ENCLOSED:
$
Internal Order #:
Lender Case #:
Client File #:
Main File # on form:
Other File # on form:
Federal Tax ID:
Employer ID:
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 1 of 28 PageID# 374
APPRAISAL OF REAL PROPERTY
136 Golden Isles Dr
Hallandale Beach, FL 33009
Captains Paradise Condo Unit 202 & Boat Slip 6 Per CDO BK/PK:8924/88
N/A
N/A
1,250,000
12/12/2024
Udo Stolarczuk
U.S. Appraisals, Inc.
1013 Spoonbill Circle
Weston, FL 33326
305-772-9691
Udo1013@aol.com
Form GA2V - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
LOCATED AT
FOR
OPINION OF VALUE
AS OF
BY
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 2 of 28 PageID# 375
US Appraisals
US4757
136 Golden Isles Dr
402
Hallandale Beach
FL
33009
Roger Davis
Roger Davis
Broward
Captains Paradise Condo Unit 202 & Boat Slip 6 Per CDO BK/PK:8924/88
5142-26-DG-0020
2024
4,889
Captains Paradise Condo
1
22744
1001.03
0
800
Ascertain Market Value
N/A
N/A
MLS/Miami Board of Realtors, Public Records, County Property Appraisers web site.
825
3,900
1,900
2
50
20
85
15
Federal Highway (west), Hallandale Beach Blvd (north), S Ocean Drive (east)
and bounded by Miami Dade County (south) in Hallandale Beach.
Subject is part of a neighborhood of single family dwellings, small to medium condos and commercial properties. Little
vacant land is available for development. Overall market appeal is average with most properties receiving good maintenance. Major traffic arteries
with public transportation are within easy access. parks and schools are nearby.
Market conditions are currently stable. Supply and demand are moderate and marketing
time is moderate. No special financing, loan discounts, interest buy downs or concessions were found for the subject or the comparable sales in
this market. Mortgage funds are readily available at prevailing market rates.
Level to street level
0.52+/- acres
15.38 units/acre
B;Wtr;Lake
RM-18
Residential Multiple Family Medium Density District
The highest
and best use of subject property is as improved and is Legally Permissible, Physically Possible, Financially Feasible & Maximally Productive.
None
Asphalt
None
AE
12011C0751J
07/31/2024
MLS, Assessment and Tax Records.
5
1
1980
20
CBS
BUT&G
24
3/1
Cvd/Op
6
8
8
1
8
0
8
1
8
1
8
0
8
Coral Property
Management. No email or phone number provided.
Form 1073UAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Individual Condominium Unit Appraisal Report
File #
SUBJECT
CONTRACT
NEIGHBORHOOD
PROJECT SITE
PROJECT INFORMATION
The
purpose
of
this
summary
appraisal
report
is
to
provide
the
lender/client
with
an
accurate,
and
adequately
supported,
opinion
of
the
market
value
of
the
subject
property.
Property Address
Unit #
City
State
Zip Code
Borrower
Owner of Public Record
County
Legal Description
Assessor's Parcel #
Tax Year
R.E. Taxes $
Project Name
Phase #
Map Reference
Census Tract
Occupant
Owner
Tenant
Vacant
Special Assessments $
HOA $
per year
per month
Property Rights Appraised
Fee Simple
Leasehold
Other (describe)
Assignment Type
Purchase Transaction
Refinance Transaction
Other (describe)
Lender/Client
Address
Is the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal?
Yes
No
Report data source(s) used, offering price(s), and date(s).
I
did
did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was not
performed.
Contract Price $
Date of Contract
Is the property seller the owner of public record?
Yes
No
Data Source(s)
Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower?
Yes
No
If Yes, report the total dollar amount and describe the items to be paid.
Note: Race and the racial composition of the neighborhood are not appraisal factors.
Neighborhood Characteristics
Location
Urban
Suburban
Rural
Built-Up
Over 75%
25-75%
Under 25%
Growth
Rapid
Stable
Slow
Condominium Unit Housing Trends
Property Values
Increasing
Stable
Declining
Demand/Supply
Shortage
In Balance
Over Supply
Marketing Time
Under 3 mths
3-6 mths
Over 6 mths
Condominium Housing
PRICE
$ (000)
AGE
(yrs)
Low
High
Pred.
Present Land Use %
One-Unit
%
2-4 Unit
%
Multi-Family
%
Commercial
%
Other
%
Neighborhood Boundaries
Neighborhood Description
Market Conditions (including support for the above conclusions)
Topography
Size
Density
View
Specific Zoning Classification
Zoning Description
Zoning Compliance
Legal
Legal Nonconforming - Do the zoning regulations permit rebuilding to current density?
Yes
No
No Zoning
Illegal (describe)
Is the highest and best use of subject property as improved (or as proposed per plans and specifications) the present use?
Yes
No
If No, describe
Utilities
Public
Other (describe)
Public
Other (describe)
Electricity
Gas
Water
Sanitary Sewer
Off-site Improvements - Type
Public
Private
Street
Alley
FEMA Special Flood Hazard Area
Yes
No
FEMA Flood Zone
FEMA Map #
FEMA Map Date
Are the utilities and off-site improvements typical for the market area?
Yes
No
If No, describe
Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)?
Yes
No
If Yes, describe
Data source(s) for project information
Project Description
Detached
Row or Townhouse
Garden
Mid-Rise
High-Rise
Other (describe)
General Description
# of Stories
# of Elevators
Existing
Proposed
Under Construction
Year Built
Effective Age
General Description
Exterior Walls
Roof Surface
Total # Parking
Ratio (spaces/units)
Type
Guest Parking
Subject Phase
# of Units
# of Units Completed
# of Units For Sale
# of Units Sold
# of Units Rented
# of Owner Occupied Units
If Project Completed
# of Phases
# of Units
# of Units for Sale
# of Units Sold
# of Units Rented
# of Owner Occupied Units
If Project Incomplete
# of Planned Phases
# of Planned Units
# of Units for Sale
# of Units Sold
# of Units Rented
# of Owner Occupied Units
Project Primary Occupancy
Principal Residence
Second Home or Recreational
Tenant
Is the developer/builder in control of the Homeowners' Association (HOA)?
Yes
No
Management Group -
Homeowners' Association
Developer
Management Agent - Provide name of management company.
Does any single entity (the same individual, investor group, corporation, etc.) own more than 10% of the total units in the project?
Yes
No
If Yes, Describe
Was the project created by the conversion of existing building(s) into a condominium?
Yes
No
If Yes, describe the original use and date of conversion.
Are the units, common elements, and recreation facilities complete (including any planned rehabilitation for a condominium conversion)?
Yes
No
If No, describe
Is there any commercial space in the project?
Yes
No
If Yes, describe and indicate the overall percentage of the commercial space.
Freddie Mac Form 465 March 2005
UAD Version 9/2011
Page 1 of 6
Fannie Mae Form 1073 March 2005
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 3 of 28 PageID# 376
US4757
The project is in average condition. Quality of construction is average. Unit mix and appeal
is average.
Common areas, pool, BBQ area, common patio area, sauna and common kitchen.
Condo budget was not provided for appraiser to review.
800
9,600.00
3.76
Building insurance, trash, common area maintenance, reserves, internet.
2
1
FWA
Elec
Tile/laminate/good
Drywall/avg
Wood/avg
Tile/avg
Wood/Avg
0
0
None
Open
None
2
N/A
6
3
3.0
2,553
Wood kitchen cabinets, quartz countertops, upgraded appliances, waterproof laminate floors. New
interior paint.
C3;Kitchen-remodeled-six to ten years
ago;Bathrooms-not updated;The subject is functional and considered to be in average condition. Utilities were on and working.
Miami Board of Realtors/MLS. Public Records, Broward County Property Appraisers web site.
Miami Board of Realtors/MLS. Public Records, Broward County Property Appraisers web site.
12/30/2019
$739,000
County Public Records
12/12/2024
06/01/2021
$648,000
County Public Records
12/12/2024
06/06/2022
$820,000
County Public Records
12/12/2024
09/01/2022
$1,250,000
County Public Records
12/12/2024
After great appreciation from 2000 TO 2006, market values decreased
dramatically from 2007 to 2010.Properties stabilized from 2011 to 2018. Property values increased again from 2019 to 2022. Presently there have
been reports of stabilization in most areas.
Form 1073UAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Individual Condominium Unit Appraisal Report
File #
PROJECT INFORMATION
PROJECT ANALYSIS
UNIT DESCRIPTION
PRIOR SALE HISTORY
Describe the condition of the project and quality of construction.
Describe the common elements and recreational facilities.
Are any common elements leased to or by the Homeowners' Association?
Yes
No
If Yes, describe the rental terms and options.
Is the project subject to a ground rent?
Yes
No
If Yes, $
per year (describe terms and conditions)
Are the parking facilities adequate for the project size and type?
Yes
No
If No, describe and comment on the effect on value and marketability.
I
did
did not analyze the condominium project budget for the current year. Explain the results of the analysis of the budget (adequacy of fees, reserves, etc.), or why
the analysis was not performed.
Are there any other fees (other than regular HOA charges) for the use of the project facilities?
Yes
No
If Yes, report the charges and describe.
Compared to other competitive projects of similar quality and design, the subject unit charge appears
High
Average
Low
If High or Low, describe
Are there any special or unusual characteristics of the project (based on the condominium documents, HOA meetings, or other information) known to the appraiser?
Yes
No
If Yes, describe and explain the effect on value and marketability.
Unit Charge $
per month X 12 = $
per year
Annual assessment charge per year per square feet of gross living area = $
Utilities included in the unit monthly assessment
None
Heat
Air Conditioning
Electricity
Gas
Water
Sewer
Cable
Other (describe)
General Description
Floor #
# of Levels
Heating Type
Fuel
Central AC
Individual AC
Other (describe)
Interior
materials/condition
Floors
Walls
Trim/Finish
Bath Wainscot
Doors
Amenities
Fireplace(s) #
WoodStove(s) #
Deck/Patio
Porch/Balcony
Other
Appliances
Refrigerator
Range/Oven
Disp
Microwave
Dishwasher
Washer/Dryer
Car Storage
None
Garage
Covered
Open
# of Cars
Assigned
Owned
Parking Space #
Finished area above grade contains:
Rooms
Bedrooms
Bath(s)
Square Feet of Gross Living Area Above Grade
Are the heating and cooling for the individual units separately metered?
Yes
No
If No, describe and comment on compatibility to other projects in the market area.
Additional features (special energy efficient items, etc.)
Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.).
Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property?
Yes
No
If Yes, describe
Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)?
Yes
No
If No, describe
I
did
did not research the sale or transfer history of the subject property and comparable sales. If not, explain
My research
did
did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal.
Data source(s)
My research
did
did not reveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale.
Data source(s)
Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).
ITEM
SUBJECT
COMPARABLE SALE #1
COMPARABLE SALE #2
COMPARABLE SALE #3
Date of Prior Sale/Transfer
Price of Prior Sale/Transfer
Data Source(s)
Effective Date of Data Source(s)
Analysis of prior sale or transfer history of the subject property and comparable sales.
Freddie Mac Form 465 March 2005
UAD Version 9/2011
Page 2 of 6
Fannie Mae Form 1073 March 2005
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 4 of 28 PageID# 377
US4757
4
550,000
950,000
27
825,000
3,900,000
136 Golden Isles Dr
402, Hallandale Beach, FL 3300
Captains Paradise Condo
1
238.69
N;Res;
Fee Simple
800
See Page 1
2
B;Wtr;Lake
MR1L;Condo
Q4
44
C3
6
3
3.0
2,553
0sf
Average
Fwa/Central
None Noted
2cv;Assigned
Balcony-2
Dock
Dock
1912 S Ocean Dr
11D, Hollywood, FL 33019
Apogee Beach Condo
1
0.37 miles E
1,055,000
539.64
MiamiMls#A11575876;DOM 77
Visual Inspection/Cty Appraiser
ArmLth
Cash;0
s08/24;c07/24
N;Res;
Fee Simple
1,200
0
Similar
0
11
-18,000
B;Wtr;Ocean
0
HR1L;Condo
0
Q4
49
+25,000
C2
-100,000
7
4
2.1
+5,000
1,955
+104,700
0sf
Average
Fwa/Central
None Noted
1g;Assigned
+10,000
Balcony
0
None
+150,000
176,700
16.7
39.1
1,231,700
1201 S Ocean Dr
1001S, Hollywood, FL 33019
The Summit Condo
1
1.68 miles N
1,100,000
552.76
MiamiMls#A11521661;DOM 21
Visual Inspection/Cty Appraiser
ArmLth
Cash;0
s04/24;c03/24
N;Res;
Fee Simple
1,861
0
Similar
0
10
-16,000
B;Wtr;Ocean
0
HR1L;Condo
0
Q4
42
-10,000
C2
-100,000
6
3
2.1
+5,000
1,990
+98,500
0sf
Average
Fwa/Central
None Noted
2g;Assigned
0
Balcony
0
None
+150,000
127,500
11.6
34.5
1,227,500
3101 S Ocean Dr
405, Hollywood, FL 33019
Ocean Palms Condo
1
0.91 miles NE
1,300,000
614.66
MiamiMls#R10952740;DOM 121
Visual Inspection/Cty Appraiser
ArmLth
Cash;0
s07/24;c05/24
N;Res;
Fee Simple
2,161
0
Similar
0
4
-4,000
B;Wtr;Ocean
0
HR1L;Condo
0
Q4
19
-125,000
C2
-100,000
6
3
3.1
-5,000
2,115
+76,700
0sf
Average
Fwa/Central
None Noted
1g;Assigned
+10,000
Balcony
0
None
+150,000
2,700
0.2
36.2
1,302,700
Many comparable sales were considered in making this appraisal. the closed sales displayed are considered
to be the most comparable and the best indicators of value for the subject property.
Most weight placed on comp #1 as it is the most recent sale. With slightly less weight placed on comp #3 as it is the second most recent sale.
1,250,000
1,250,000
Greatest weight was placed on the market approach when estimating market value. As it best reflects the interactions of buyers and sellers in the
market place.
1,250,000
12/12/2024
Form 1073UAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Individual Condominium Unit Appraisal Report
File #
SALES COMPARISON APPROACH
INCOME
RECONCILIATION
There are
comparable
properties
currently
offered
for
sale
in
the
subject
neighborhood
ranging
in
price
from
$
to $
.
There are
comparable
sales
in
the
subject
neighborhood
within
the
past
twelve
months
ranging
in
sale
price
from
$
to $
.
FEATURE
SUBJECT
COMPARABLE SALE # 1
COMPARABLE SALE # 2
COMPARABLE SALE # 3
Address and
Unit #
Project Name and
Phase
Proximity to Subject
Sale Price
$
$
$
$
Sale Price/Gross Liv. Area
$
sq. ft. $
sq. ft.
$
sq. ft.
$
sq. ft.
Data Source(s)
Verification Source(s)
VALUE ADJUSTMENTS
DESCRIPTION
DESCRIPTION
+(-) $ Adjustment
DESCRIPTION
+(-) $ Adjustment
DESCRIPTION
+(-) $ Adjustment
Sales or Financing
Concessions
Date of Sale/Time
Location
Leasehold/Fee Simple
HOA Mo. Assessment
Common Elements
and Rec. Facilities
Floor Location
View
Design (Style)
Quality of Construction
Actual 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
$
$
$
Net Adj.
%
Gross Adj.
%
Net Adj.
%
Gross Adj.
%
Net Adj.
%
Gross Adj.
%
Summary of Sales Comparison Approach
Indicated Value by Sales Comparison Approach $
INCOME APPROACH TO VALUE (not required by Fannie Mae)
Estimated Monthly Market Rent $
X Gross Rent Multiplier
= $
Indicated Value by Income Approach
Summary of Income Approach (including support for market rent and GRM)
Indicated Value by: Sales Comparison Approach $
Income Approach (if developed) $
This appraisal is made
"as is",
subject
to
completion
per
plans
and
specifications
on
the
basis
of
a
hypothetical
condition
that
the
improvements
have
been
completed,
subject
to
the
following
repairs
or
alterations
on
the
basis
of
a
hypothetical
condition
that
the
repairs
or
alterations
have
been
completed,
or
subject to the
following
required
inspection
based
on
the
extraordinary
assumption
that
the
condition
or
deficiency
does
not
require
alteration
or
repair:
Based
on
a
complete
visual
inspection
of
the
interior
and
exterior
areas
of
the
subject
property,
defined
scope
of
work,
statement
of
assumptions
and
limiting
conditions,
and
appraiser's
certification,
my
(our)
opinion
of
the
market
value,
as
defined,
of
the
real
property
that
is
the
subject
of
this
report
is
$
, as of
,
which
is
the
date
of
inspection
and
the
effective
date
of
this
appraisal.
Freddie Mac Form 465 March 2005
UAD Version 9/2011
Page 3 of 6
Fannie Mae Form 1073 March 2005
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 5 of 28 PageID# 378
US4757
Form 1073UAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Individual Condominium Unit Appraisal Report
File #
This
report
form
is
designed
to
report
an
appraisal
of
a
unit
in
a
condominium
project
or
a
condominium
unit
in
a
planned
unit
development
(PUD).
This
report
form
is
not
designed
to
report
an
appraisal
of
a
manufactured
home
or
a
unit
in
a
cooperative project.
This
appraisal
report
is
subject
to
the
following
scope
of
work,
intended
use,
intended
user,
definition
of
market
value,
statement
of
assumptions
and
limiting
conditions,
and
certifications.
Modifications,
additions,
or
deletions
to
the
intended
use,
intended
user,
definition
of
market
value,
or
assumptions
and
limiting
conditions
are
not
permitted.
The
appraiser
may
expand
the
scope
of
work
to
include
any
additional
research
or
analysis
necessary
based
on
the
complexity
of
this
appraisal
assignment.
Modifications
or
deletions
to
the
certifications
are
also
not
permitted.
However,
additional
certifications
that
do
not
constitute
material
alterations
to
this
appraisal
report,
such
as
those
required
by
law
or
those
related
to
the
appraiser's
continuing
education
or
membership
in
an
appraisal
organization,
are
permitted.
SCOPE OF WORK:
The
scope
of
work
for
this
appraisal
is
defined
by
the
complexity
of
this
appraisal
assignment
and
the
reporting
requirements
of
this
appraisal
report
form,
including
the
following
definition
of
market
value,
statement
of
assumptions
and
limiting
conditions,
and
certifications.
The
appraiser
must,
at
a
minimum:
(1)
perform
a
complete
visual
inspection
of
the
interior
and
exterior
areas
of
the
subject
unit,
(2)
inspect
and
analyze
the
condominium
project,
(3)
inspect
the
neighborhood,
(4)
inspect
each
of
the
comparable
sales
from
at
least
the
street,
(5)
research,
verify,
and
analyze
data
from
reliable
public
and/or
private
sources,
and
(6)
report
his
or
her
analysis,
opinions,
and
conclusions
in
this
appraisal
report.
INTENDED USE:
The
intended
use
of
this
appraisal
report
is
for
the
lender/client
to
evaluate
the
property
that
is
the
subject
of
this
appraisal
for
a
mortgage
finance
transaction.
INTENDED USER:
The
intended
user
of
this
appraisal
report
is
the
lender/client.
MARKET VALUE:
The
most
probable
price
which
a
property
should
bring
in
a
competitive
and
open
market
under
all
conditions
requisite
to
a
fair
sale,
the
buyer
and
seller,
each
acting
prudently,
knowledgeably
and
assuming
the
price
is
not
affected
by
undue
stimulus.
Implicit
in
this
definition
is
the
consummation
of
a
sale
as
of
a
specified
date
and
the
passing
of
title
from
seller
to
buyer
under
conditions
whereby:
(1)
buyer
and
seller
are
typically
motivated;
(2)
both
parties
are
well
informed
or
well
advised,
and
each
acting
in
what
he
or
she
considers
his
or
her
own
best
interest;
(3)
a
reasonable
time
is
allowed
for
exposure
in
the
open
market;
(4)
payment
is
made
in
terms
of
cash
in
U.
S.
dollars
or
in
terms
of
financial
arrangements
comparable
thereto;
and
(5)
the
price
represents
the
normal
consideration
for
the
property
sold
unaffected
by
special
or
creative
financing
or
sales
concessions*
granted
by
anyone
associated
with
the
sale.
*Adjustments
to
the
comparables
must
be
made
for
special
or
creative
financing
or
sales
concessions.
No
adjustments
are
necessary
for
those
costs
which
are
normally
paid
by
sellers
as
a
result
of
tradition
or
law
in
a
market
area;
these
costs
are
readily
identifiable
since
the
seller
pays
these
costs
in
virtually
all
sales
transactions.
Special
or
creative
financing
adjustments
can
be
made
to
the
comparable
property
by
comparisons
to
financing
terms
offered
by
a
third
party
institutional
lender
that
is
not
already
involved
in
the
property
or
transaction.
Any
adjustment
should
not
be
calculated
on
a
mechanical
dollar
for
dollar
cost
of
the
financing
or
concession
but
the
dollar
amount
of
any
adjustment
should
approximate
the
market's
reaction
to
the
financing
or
concessions
based
on
the
appraiser's
judgment.
STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS:
The
appraiser's
certification
in
this
report
is
subject
to
the
following
assumptions
and
limiting
conditions:
1.
The
appraiser
will
not
be
responsible
for
matters
of
a
legal
nature
that
affect
either
the
property
being
appraised
or
the
title
to
it,
except
for
information
that
he
or
she
became
aware
of
during
the
research
involved
in
performing
this
appraisal.
The
appraiser
assumes
that
the
title
is
good
and
marketable
and
will
not
render
any
opinions
about
the
title.
2.
The
appraiser
has
provided
a
sketch
in
this
appraisal
report
to
show
the
approximate
dimensions
of
the
improvements.
The
sketch
is
included
only
to
assist
the
reader
in
visualizing
the
property
and
understanding
the
appraiser's
determination
of its size.
3.
The
appraiser
has
examined
the
available
flood
maps
that
are
provided
by
the
Federal
Emergency
Management
Agency
(or
other
data
sources)
and
has
noted
in
this
appraisal
report
whether
any
portion
of
the
subject
site
is
located
in
an
identified
Special
Flood
Hazard
Area.
Because
the
appraiser
is
not
a
surveyor,
he
or
she
makes
no
guarantees,
express
or
implied,
regarding
this
determination.
4.
The
appraiser
will
not
give
testimony
or
appear
in
court
because
he
or
she
made
an
appraisal
of
the
property
in
question,
unless
specific
arrangements
to
do
so
have
been
made
beforehand,
or
as
otherwise
required
by
law.
5.
The
appraiser
has
noted
in
this
appraisal
report
any
adverse
conditions
(such
as
needed
repairs,
deterioration,
the
presence
of
hazardous
wastes,
toxic
substances,
etc.)
observed
during
the
inspection
of
the
subject
property
or
that
he
or
she
became
aware
of
during
the
research
involved
in
performing
this
appraisal.
Unless
otherwise
stated
in
this
appraisal
report,
the
appraiser
has
no
knowledge
of
any
hidden
or
unapparent
physical
deficiencies
or
adverse
conditions
of
the
property
(such
as,
but
not
limited
to,
needed
repairs,
deterioration,
the
presence
of
hazardous
wastes,
toxic
substances,
adverse
environmental
conditions,
etc.)
that
would
make
the
property
less
valuable,
and
has
assumed
that
there
are
no
such
conditions
and
makes
no
guarantees
or
warranties,
express
or
implied.
The
appraiser
will
not
be
responsible
for
any
such
conditions
that
do
exist
or
for
any
engineering
or
testing
that
might
be
required
to
discover
whether
such
conditions
exist.
Because
the
appraiser
is
not
an
expert
in
the
field
of
environmental
hazards,
this
appraisal
report
must
not
be
considered
as
an
environmental
assessment
of
the
property.
6.
The
appraiser
has
based
his
or
her
appraisal
report
and
valuation
conclusion
for
an
appraisal
that
is
subject
to
satisfactory
completion,
repairs,
or
alterations
on
the
assumption
that
the
completion,
repairs,
or
alterations
of
the
subject
property
will
be
performed
in
a
professional
manner.
Freddie Mac Form 465 March 2005
UAD Version 9/2011
Page 4 of 6
Fannie Mae Form 1073 March 2005
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 6 of 28 PageID# 379
US4757
Form 1073UAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Individual Condominium Unit Appraisal Report
File #
APPRAISER'S CERTIFICATION:
The
Appraiser
certifies
and
agrees
that:
1.
I
have,
at
a
minimum,
developed
and
reported
this
appraisal
in
accordance
with
the
scope
of
work
requirements
stated
in
this
appraisal
report.
2.
I
performed
a
complete
visual
inspection
of
the
interior
and
exterior
areas
of
the
subject
property.
I
reported
the
condition
of
the
improvements
in
factual,
specific
terms.
I
identified
and
reported
the
physical
deficiencies
that
could
affect
the
livability,
soundness,
or
structural
integrity
of
the
property.
3.
I
performed
this
appraisal
in
accordance
with
the
requirements
of
the
Uniform
Standards
of
Professional
Appraisal
Practice
that
were
adopted
and
promulgated
by
the
Appraisal
Standards
Board
of
The
Appraisal
Foundation
and
that
were
in
place
at
the
time
this
appraisal
report
was
prepared.
4.
I
developed
my
opinion
of
the
market
value
of
the
real
property
that
is
the
subject
of
this
report
based
on
the
sales
comparison
approach
to
value.
I
have
adequate
comparable
market
data
to
develop
a
reliable
sales
comparison
approach
for
this
appraisal
assignment.
I
further
certify
that
I
considered
the
cost
and
income
approaches
to
value
but
did
not
develop
them,
unless
otherwise
indicated
in
this
report.
5.
I
researched,
verified,
analyzed,
and
reported
on
any
current
agreement
for
sale
for
the
subject
property,
any
offering
for
sale
of
the
subject
property
in
the
twelve
months
prior
to
the
effective
date
of
this
appraisal,
and
the
prior
sales
of
the
subject
property
for
a
minimum
of
three
years
prior
to
the
effective
date
of
this
appraisal,
unless
otherwise
indicated
in
this
report.
6.
I
researched,
verified,
analyzed,
and
reported
on
the
prior
sales
of
the
comparable
sales
for
a
minimum
of
one
year
prior
to
the
date
of
sale
of
the
comparable
sale,
unless
otherwise
indicated
in
this
report.
7.
I
selected
and
used
comparable
sales
that
are
locationally,
physically,
and
functionally
the
most
similar
to
the
subject
property.
8.
I
have
not
used
comparable
sales
that
were
the
result
of
combining
a
land
sale
with
the
contract
purchase
price
of
a
home
that
has
been
built
or
will
be
built
on
the
land.
9.
I
have
reported
adjustments
to
the
comparable
sales
that
reflect
the
market's
reaction
to
the
differences
between
the
subject
property
and
the
comparable
sales.
10.
I
verified,
from
a
disinterested
source,
all
information
in
this
report
that
was
provided
by
parties
who
have
a
financial
interest
in
the
sale
or
financing
of
the
subject
property.
11.
I
have
knowledge
and
experience
in
appraising
this
type
of
property
in
this
market
area.
12.
I
am
aware
of,
and
have
access
to,
the
necessary
and
appropriate
public
and
private
data
sources,
such
as
multiple
listing
services,
tax
assessment
records,
public
land
records
and
other
such
data
sources
for
the
area
in
which
the
property
is
located.
13.
I
obtained
the
information,
estimates,
and
opinions
furnished
by
other
parties
and
expressed
in
this
appraisal
report
from
reliable
sources
that
I
believe
to
be
true
and
correct.
14.
I
have
taken
into
consideration
the
factors
that
have
an
impact
on
value
with
respect
to
the
subject
neighborhood,
subject
property,
and
the
proximity
of
the
subject
property
to
adverse
influences
in
the
development
of
my
opinion
of
market
value.
I
have
noted
in
this
appraisal
report
any
adverse
conditions
(such
as,
but
not
limited
to,
needed
repairs,
deterioration,
the
presence
of
hazardous
wastes,
toxic
substances,
adverse
environmental
conditions,
etc.)
observed
during
the
inspection
of
the
subject
property
or
that
I
became
aware
of
during
the
research
involved
in
performing
this
appraisal.
I
have
considered
these
adverse
conditions
in
my
analysis
of
the
property
value,
and
have
reported
on
the
effect
of
the
conditions
on
the
value
and
marketability
of
the
subject
property.
15.
I
have
not
knowingly
withheld
any
significant
information
from
this
appraisal
report
and,
to
the
best
of
my
knowledge,
all
statements
and
information
in
this
appraisal
report
are
true
and
correct.
16.
I
stated
in
this
appraisal
report
my
own
personal,
unbiased,
and
professional
analysis,
opinions,
and
conclusions,
which
are
subject
only
to
the
assumptions
and
limiting
conditions
in
this
appraisal
report.
17.
I
have
no
present
or
prospective
interest
in
the
property
that
is
the
subject
of
this
report,
and
I
have
no
present
or
prospective
personal
interest
or
bias
with
respect
to
the
participants
in
the
transaction.
I
did
not
base,
either
partially
or
completely,
my
analysis
and/or
opinion
of
market
value
in
this
appraisal
report
on
the
race,
color,
religion,
sex,
age,
marital
status,
handicap,
familial
status,
or
national
origin
of
either
the
prospective
owners
or
occupants
of
the
subject
property
or
of
the
present
owners
or
occupants
of
the
properties
in
the
vicinity
of
the
subject
property
or
on
any
other
basis
prohibited
by
law.
18.
My
employment
and/or
compensation
for
performing
this
appraisal
or
any
future
or
anticipated
appraisals
was
not
conditioned
on
any
agreement
or
understanding,
written
or
otherwise,
that
I
would
report
(or
present
analysis
supporting)
a
predetermined
specific
value,
a
predetermined
minimum
value,
a
range
or
direction
in
value,
a
value
that
favors
the
cause
of
any
party,
or
the
attainment
of
a
specific
result
or
occurrence
of
a
specific
subsequent
event
(such
as
approval
of
a
pending
mortgage
loan
application).
19.
I
personally
prepared
all
conclusions
and
opinions
about
the
real
estate
that
were
set
forth
in
this
appraisal
report.
If
I
relied
on
significant
real
property
appraisal
assistance
from
any
individual
or
individuals
in
the
performance
of
this
appraisal
or
the
preparation
of
this
appraisal
report,
I
have
named
such
individual(s)
and
disclosed
the
specific
tasks
performed
in
this
appraisal
report.
I
certify
that
any
individual
so
named
is
qualified
to
perform
the
tasks.
I
have
not
authorized
anyone
to
make
a
change
to
any
item
in
this
appraisal
report;
therefore,
any
change
made
to
this
appraisal
is
unauthorized
and
I
will
take
no
responsibility
for
it.
20.
I
identified
the
lender/client
in
this
appraisal
report
who
is
the
individual,
organization,
or
agent
for
the
organization
that
ordered and will receive this appraisal report.
Freddie Mac Form 465 March 2005
UAD Version 9/2011
Page 5 of 6
Fannie Mae Form 1073 March 2005
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 7 of 28 PageID# 380
US4757
Udo Stolarczuk
U.S. Appraisals, Inc.
1013 Spoonbill Circle
Weston, FL 33326
305-772-9691
Udo1013@aol.com
12/16/2024
12/12/2024
RD2383
FL
11/30/2026
136 Golden Isles Dr
402, Hallandale Beach, FL 33009
1,250,000
Roger Davis
N/A
N/A
Form 1073UAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Individual Condominium Unit Appraisal Report
File #
21.
The
lender/client
may
disclose
or
distribute
this
appraisal
report
to:
the
borrower;
another
lender
at
the
request
of
the
borrower;
the
mortgagee
or
its
successors
and
assigns;
mortgage
insurers;
government
sponsored
enterprises;
other
secondary
market
participants;
data
collection
or
reporting
services;
professional
appraisal
organizations;
any
department,
agency,
or
instrumentality
of
the
United
States;
and
any
state,
the
District
of
Columbia,
or
other
jurisdictions;
without
having
to
obtain
the
appraiser's
or
supervisory
appraiser's
(if
applicable)
consent.
Such
consent
must
be
obtained
before
this
appraisal
report
may
be
disclosed
or
distributed
to
any
other
party
(including,
but
not
limited
to,
the
public
through
advertising,
public
relations,
news,
sales,
or
other
media).
22.
I
am
aware
that
any
disclosure
or
distribution
of
this
appraisal
report
by
me
or
the
lender/client
may
be
subject
to
certain
laws
and
regulations.
Further,
I
am
also
subject
to
the
provisions
of
the
Uniform
Standards
of
Professional
Appraisal
Practice
that
pertain
to
disclosure
or
distribution
by
me.
23.
The
borrower,
another
lender
at
the
request
of
the
borrower,
the
mortgagee
or
its
successors
and
assigns,
mortgage
insurers,
government
sponsored
enterprises,
and
other
secondary
market
participants
may
rely
on
this
appraisal
report
as
part
of
any
mortgage
finance
transaction
that
involves
any
one
or
more
of
these
parties.
24.
If
this
appraisal
report
was
transmitted
as
an
"electronic
record"
containing
my
"electronic
signature,"
as
those
terms
are
defined
in
applicable
federal
and/or
state
laws
(excluding
audio
and
video
recordings),
or
a
facsimile
transmission
of
this
appraisal
report
containing
a
copy
or
representation
of
my
signature,
the
appraisal
report
shall
be
as
effective,
enforceable
and
valid
as
if
a
paper
version
of
this
appraisal
report
were
delivered
containing
my
original
hand
written
signature.
25.
Any
intentional
or
negligent
misrepresentation(s)
contained
in
this
appraisal
report
may
result
in
civil
liability
and/or
criminal
penalties
including,
but
not
limited
to,
fine
or
imprisonment
or
both
under
the
provisions
of
Title
18,
United
States
Code,
Section
1001,
et
seq.,
or
similar
state
laws.
SUPERVISORY APPRAISER'S CERTIFICATION:
The
Supervisory
Appraiser
certifies
and
agrees
that:
1.
I
directly
supervised
the
appraiser
for
this
appraisal
assignment,
have
read
the
appraisal
report,
and
agree
with
the
appraiser's
analysis,
opinions,
statements,
conclusions,
and
the
appraiser's
certification.
2.
I
accept
full
responsibility
for
the
contents
of
this
appraisal
report
including,
but
not
limited
to,
the
appraiser's
analysis,
opinions,
statements,
conclusions,
and
the
appraiser's
certification.
3.
The
appraiser
identified
in
this
appraisal
report
is
either
a
sub-contractor
or
an
employee
of
the
supervisory
appraiser
(or
the
appraisal
firm),
is
qualified
to
perform
this
appraisal,
and
is
acceptable
to
perform
this
appraisal
under
the
applicable
state
law.
4.
This
appraisal
report
complies
with
the
Uniform
Standards
of
Professional
Appraisal
Practice
that
were
adopted
and
promulgated
by
the
Appraisal
Standards
Board
of
The
Appraisal
Foundation
and
that
were
in
place
at
the
time
this
appraisal
report
was
prepared.
5.
If
this
appraisal
report
was
transmitted
as
an
"electronic
record"
containing
my
"electronic
signature,"
as
those
terms
are
defined
in
applicable
federal
and/or
state
laws
(excluding
audio
and
video
recordings),
or
a
facsimile
transmission
of
this
appraisal
report
containing
a
copy
or
representation
of
my
signature,
the
appraisal
report
shall
be
as
effective,
enforceable
and
valid
as
if
a
paper
version
of
this
appraisal
report
were
delivered
containing
my
original
hand
written
signature.
APPRAISER
Signature
Name
Company Name
Company Address
Telephone Number
Email Address
Date of Signature and Report
Effective Date of Appraisal
State Certification #
or State License #
or Other (describe)
State #
State
Expiration Date of Certification or License
ADDRESS OF PROPERTY APPRAISED
APPRAISED VALUE OF SUBJECT PROPERTY $
LENDER/CLIENT
Name
Company Name
Company Address
Email Address
SUPERVISORY APPRAISER (ONLY IF REQUIRED)
Signature
Name
Company Name
Company Address
Telephone Number
Email Address
Date of Signature
State Certification #
or State License #
State
Expiration Date of Certification or License
SUBJECT PROPERTY
Did not inspect subject property
Did inspect exterior of subject property from street
Date of Inspection
Did inspect interior and exterior of subject property
Date of Inspection
COMPARABLE SALES
Did not inspect exterior of comparable sales from street
Did inspect exterior of comparable sales from street
Date of Inspection
Freddie Mac Form 465 March 2005
UAD Version 9/2011
Page 6 of 6
Fannie Mae Form 1073 March 2005
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 8 of 28 PageID# 381
US4757
136 Golden Isles Dr
402, Hallandale Beach, FL 3300
Captains Paradise Condo
1
238.69
N;Res;
Fee Simple
800
See Page 1
2
B;Wtr;Lake
MR1L;Condo
Q4
44
C3
6
3
3.0
2,553
0sf
Average
Fwa/Central
None Noted
2cv;Assigned
Balcony-2
Dock
Dock
12/30/2019
$739,000
County Public Records
12/12/2024
2300 Diana Dr
301, Hallandale Beach, FL 33009
2300 Diana Condo
1
0.19 miles NW
1,150,000
500.00
MiamiMls#A11181887;DOM 125
Visual Inspection/Cty Appraiser
ArmLth
Cash;0
s03/22;c03/22
N;Res;
Fee Simple
758
0
Same
0
3
-2,000
B;Wtr;Lake
MR1L;Condo
Q4
44
C3
6
3
3.0
2,300
+44,300
0sf
Average
Fwa/Central
None Noted
2cv;Assigned
Balcony-2
Dock
42,300
3.7
4.0
1,192,300
06/18/2021
$100
County Public Records
12/12/2024
136 Golden Isles Dr
301, Hallandale Beach, FL 33009
Captains Paradise Condo
1
0.00 miles
950,000
372.55
MiamiMls#A11684009;DOM 40
Visual Inspection/Cty Appraiser
Listing
Active
N;Res;
Fee Simple
1,200
0
Same
0
3
-2,000
B;Wtr;Lake
MR1L;Condo
Q4
44
C3
6
3
3.0
2,550
0
0sf
Average
Fwa/Central
None Noted
2cv;Assigned
Balcony-2
None
+150,000
148,000
15.6
16.0
1,098,000
05/08/2015
$0
County Public Records
12/12/2024
4
5
6
4
5
6
See previous page.
Form 1073UAD.(AC) - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Individual Condominium Unit Appraisal Report
File #
SALES COMPARISON APPROACH
SALE / TRANSFER HISTORY
ANALYSIS / COMMENTS
FEATURE
SUBJECT
COMPARABLE SALE #
COMPARABLE SALE #
COMPARABLE SALE #
Address and
Unit #
Project Name and
Phase
Proximity to Subject
Sale Price
$
$
$
$
Sale Price/Gross Liv. Area
$
sq. ft. $
sq. ft.
$
sq. ft.
$
sq. ft.
Data Source(s)
Verification Source(s)
VALUE ADJUSTMENTS
DESCRIPTION
DESCRIPTION
+(-) $ Adjustment
DESCRIPTION
+(-) $ Adjustment
DESCRIPTION
+(-) $ Adjustment
Sales or Financing
Concessions
Date of Sale/Time
Location
Leasehold/Fee Simple
HOA Mo. Assessment
Common Elements
and Rec. Facilities
Floor Location
View
Design (Style)
Quality of Construction
Actual 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
$
$
$
Net Adj.
%
Gross Adj.
%
Net Adj.
%
Gross Adj.
%
Net Adj.
%
Gross Adj.
%
Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).
ITEM
SUBJECT
COMPARABLE SALE #
COMPARABLE SALE #
COMPARABLE SALE #
Date of Prior Sale/Transfer
Price of Prior Sale/Transfer
Data Source(s)
Effective Date of Data Source(s)
Analysis of prior sale or transfer history of the subject property and comparable sales
Analysis/Comments
Freddie Mac Form 465 March 2005
Fannie Mae Form 1073 March 2005
UAD Version 9/2011
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 9 of 28 PageID# 382
Unless otherwise noted, I have not performed, as an appraiser, regarding the property that is the subject of the report within the
three-year period immediately preceding acceptance of this assignment.
The certifications contained within this appraisal report were developed by Fannie Mae and Freddie Mac, not by this
appraiser, specifically Certification #21 and #23. This appraisal was developed for no one else beside the specific client
identified in the report and any intended user(s) also identified in the report. The intended use is for the client and
intended users named in this report and is not be to used or relied upon by anyone else for any purpose. A party receiving
a report copy from the client does not as a consequence, become a party to the appraiser-client relationship.
There were no transfers within three years of the subject property. And there were transfers of the comparable sales for the
prior year to the date of sale of the comparable sales. Comp #4 transferred on 06/18/2021 for $100 (Warranty Deed).
Due to the lack of recent sales it was necessary to utilize some sales that sold more than six months prior to the date of
inspection. And some sales that are located more than the typical distance from the subject. This does not have an adverse
affect on marketability as they are within the subjects market area.
All comparables are similar in style in the same general market area and requiring adjustments. Due to the area there were
limited sales to choose from the market area. Therefore, when appraising in this area it is common to have large adjustments due
to condition, age, gross living area and features (dock). It is also common to have large net/gross adjustments. These
adjustments exceed typical guidelines, however these are the best comparable sales.
Many comparable sales were considered in making this appraisal. the closed sales displayed are considered to be the most
comparable and the best indicators of value for the subject property. All comparables are similar in style in the general market
area and requires some adjustments.
As per FEMA the subject is located in a flood zone. This does not have an adverse affect on marketability.
Adjustments were made using the paired sales analysis.
Remaining economic life for the subject is approximately 50 years.
FIRREA Certification Statement:
The appraiser certifies and agrees that this appraisal was prepared in accordance with the requirements of Title XI of the
Financial Institutions, Reform, Recovery, and Enforcement Act (FIRREA) of 1989, as amended (12 U.S.C. 3331 et seq), and
any applicable regulations in effect at the time the appraisal certification.
Cash transactions are typical to the area and does not have an adverse affect on marketability.
Subject dwelling is larger than average. There were no recent sales of similar size condos, therefore it was necessary to utilize
sales that are smaller and adjust for the size difference. This does not have an adverse affect on marketability.
The subject is located in a five story building on a lake with ocean access. There were no recent sales of condos in similar type
buildings. Therefore it was necessary to utilize sales located in high rise condos with ocean views. Comp #4 is located across
the lake from the subject in a similar style building. This is a dated sale however it was utilized for its similarity in building type,
age, gross living area and it also has a dock.
There were two recent sales of docks located within the subject market area. Both are located within Mystic Pointe Marina
Condos in Aventura, Florida which is located approximately three miles south of the subject.
3575 Mystic Pointe Dr #118
Sold for $187,500
07/11/2024
3575 Mystic Pointe Dr #79
Sold for $290,000
04/02/2024
Supplemental Addendum
Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
US4757
Roger Davis
136 Golden Isles Dr
Hallandale Beach
Broward
FL
33009
N/A
Borrower
Lender/Client
Property Address
City
County
State
Zip Code
File No.
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 10 of 28 PageID# 383
US4757
Roger Davis
136 Golden Isles Dr
Hallandale Beach
Broward
FL
33009
N/A
60 days
- The statements of fact contained in this report are true and correct.
- The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, impartial, and unbiased
professional analyses, opinions, and conclusions.
- Unless otherwise indicated, I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties
involved.
- I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.
- My engagement in this assignment was not contingent upon developing or reporting predetermined results.
- My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of
the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal.
- My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice that
were in effect at the time this report was prepared.
- Unless otherwise indicated, I have made a personal inspection of the property that is the subject of this report.
- Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification (if there are exceptions, the name of each
individual providing significant real property appraisal assistance is stated elsewhere in this report).
Udo Stolarczuk
12/16/2024
RD2383
FL
11/30/2026
12/12/2024
Form ID14AP - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
USPAP ADDENDUM
File No.
Borrower
Property Address
City
County
State
Zip Code
Lender
This report was prepared under the following USPAP reporting option:
Appraisal Report
This report was prepared in accordance with USPAP Standards Rule 2-2(a).
Restricted Appraisal Report
This report was prepared in accordance with USPAP Standards Rule 2-2(b).
Reasonable Exposure Time
My opinion of a reasonable exposure time for the subject property at the market value stated in this report is:
Additional Certifications
I certify that, to the best of my knowledge and belief:
I have NOT performed services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the
three-year period immediately preceding acceptance of this assignment.
I HAVE performed services, as an appraiser or in another capacity, regarding the property that is the subject of this report within the three-year
period immediately preceding acceptance of this assignment. Those services are described in the comments below.
Additional Comments
APPRAISER:
Signature:
Name:
Date Signed:
State Certification #:
or State License #:
State:
Expiration Date of Certification or License:
Effective Date of Appraisal:
SUPERVISORY APPRAISER: (only if required)
Signature:
Name:
Date Signed:
State Certification #:
or State License #:
State:
Expiration Date of Certification or License:
Supervisory Appraiser Inspection of Subject Property:
Did Not
Exterior-only from Street
Interior and Exterior
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 11 of 28 PageID# 384
Form SKT.BLDSKI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Building Sketch
Roger Davis
136 Golden Isles Dr
Hallandale Beach
Broward
FL
33009
N/A
Borrower
Lender/Client
3.8'
72'
2'
14.5'
39'
19'
37'
67.5'
Balcony
Balcony
Foyer
Ldry
Kitchen
Bedroom
Bath
Bath
Bedroom
Bath
Bedroom
Primary
Primary
Dining
Living
Bar
Storage
20'
10'
23'
5'
11'
5'
33.5'
37'
67.5'
7'
3.8'
Balcony
TOTAL Sketch by a la mode
Area Calculations Summary
Living Area
Calculation Details
First Floor
2552.5 Sq ft
11 × 5
=
55
67.5 × 37
= 2497.5
Total Living Area (Rounded):
2553 Sq ft
Non-living Area
Concrete Patio
26.6 Sq ft
7 × 3.8
=
26.6
Concrete Patio
1004.6 Sq ft
3.8 × 67.5
=
256.5
4.5 × 2
=
9
19 × 38.8
=
737.2
0.5 × 19 × 0.2 =
1.9
Property Address
City
County
State
Zip Code
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 12 of 28 PageID# 385
Form PIC3x5.SR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Subject Photo Page
Roger Davis
136 Golden Isles Dr
Hallandale Beach
Broward
FL
33009
N/A
Subject Front
Sales Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
136 Golden Isles Dr
2,553
6
3
3.0
N;Res;
B;Wtr;Lake
Q4
44
Subject Rear
Subject Street
Borrower
Lender/Client
Property Address
City
County
State
Zip Code
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 13 of 28 PageID# 386
Form PIC3X5.SI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Subject Interior Photo Page
Roger Davis
136 Golden Isles Dr
Hallandale Beach
Broward
FL
33009
N/A
Living
Sales Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
136 Golden Isles Dr
2,553
6
3
3.0
N;Res;
B;Wtr;Lake
Q4
44
Dining
Kitchen
Borrower
Lender/Client
Property Address
City
County
State
Zip Code
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 14 of 28 PageID# 387
Form PIC3X5.SI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Subject Interior Photo Page
Roger Davis
136 Golden Isles Dr
Hallandale Beach
Broward
FL
33009
N/A
Primary Bedroom
Sales Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
136 Golden Isles Dr
2,553
6
3
3.0
N;Res;
B;Wtr;Lake
Q4
44
Primary Bath
Bedroom
Borrower
Lender/Client
Property Address
City
County
State
Zip Code
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 15 of 28 PageID# 388
Form PIC3X5.SI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Subject Interior Photo Page
Roger Davis
136 Golden Isles Dr
Hallandale Beach
Broward
FL
33009
N/A
Bath
Sales Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
136 Golden Isles Dr
2,553
6
3
3.0
N;Res;
B;Wtr;Lake
Q4
44
Bath
Bedroom
Borrower
Lender/Client
Property Address
City
County
State
Zip Code
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 16 of 28 PageID# 389
Form PIC3X5.SI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Subject Interior Photo Page
Roger Davis
136 Golden Isles Dr
Hallandale Beach
Broward
FL
33009
N/A
A/C Unit
Sales Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
136 Golden Isles Dr
2,553
6
3
3.0
N;Res;
B;Wtr;Lake
Q4
44
Borrower
Lender/Client
Property Address
City
County
State
Zip Code
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 17 of 28 PageID# 390
Form PIC3X5.SI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Subject Photo Page
Roger Davis
136 Golden Isles Dr
Hallandale Beach
Broward
FL
33009
N/A
View
Sales Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
136 Golden Isles Dr
2,553
6
3
3.0
N;Res;
B;Wtr;Lake
Q4
44
Balcony
Dock
Borrower
Lender/Client
Property Address
City
County
State
Zip Code
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 18 of 28 PageID# 391
Form PIC3X5.SI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Subject Photo Page
Roger Davis
136 Golden Isles Dr
Hallandale Beach
Broward
FL
33009
N/A
Street Facing West
Sales Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
136 Golden Isles Dr
2,553
6
3
3.0
N;Res;
B;Wtr;Lake
Q4
44
Right side of Building
Left side of Building
Borrower
Lender/Client
Property Address
City
County
State
Zip Code
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 19 of 28 PageID# 392
Form PIC3x5.CR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Comparable Photo Page
Roger Davis
136 Golden Isles Dr
Hallandale Beach
Broward
FL
33009
N/A
Comparable 1
Prox. to Subject
Sale Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
1912 S Ocean Dr
0.37 miles E
1,055,000
1,955
7
4
2.1
N;Res;
B;Wtr;Ocean
Q4
49
Comparable 2
Prox. to Subject
Sale Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
1201 S Ocean Dr
1.68 miles N
1,100,000
1,990
6
3
2.1
N;Res;
B;Wtr;Ocean
Q4
42
Comparable 3
Prox. to Subject
Sale Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
3101 S Ocean Dr
0.91 miles NE
1,300,000
2,115
6
3
3.1
N;Res;
B;Wtr;Ocean
Q4
19
Borrower
Lender/Client
Property Address
City
County
State
Zip Code
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 20 of 28 PageID# 393
Form PIC3X5.CR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Comparable Photo Page
Roger Davis
136 Golden Isles Dr
Hallandale Beach
Broward
FL
33009
N/A
Comparable 4
Prox. to Subject
Sale Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
2300 Diana Dr
0.19 miles NW
1,150,000
2,300
6
3
3.0
N;Res;
B;Wtr;Lake
Q4
44
Comparable 5
Prox. to Subject
Sale Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
136 Golden Isles Dr
0.00 miles
950,000
2,550
6
3
3.0
N;Res;
B;Wtr;Lake
Q4
44
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 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 21 of 28 PageID# 394
Flood Map
Form SCNLGL - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 22 of 28 PageID# 395
Aerial Map
Form SCNLGL - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 23 of 28 PageID# 396
Form MAP.LOC - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Location Map
Roger Davis
136 Golden Isles Dr
Hallandale Beach
Broward
FL
33009
N/A
Borrower
Lender/Client
Property Address
City
County
State
Zip Code
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 24 of 28 PageID# 397
US4757
Form UADDEFINE - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
File No.
UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM
(Source: Fannie Mae UAD Appendix D: UAD Field-Specific Standardization Requirements)
Condition Ratings and Definitions
C1
The improvements have been very recently constructed and have not previously been occupied. The entire structure and all components are new
and the dwelling features no physical depreciation.*
*Note: Newly constructed improvements that feature recycled materials and/or components can be considered new dwellings provided that the
dwelling is placed on a 100% new foundation and the recycled materials and the recycled components have been rehabilitated/re-manufactured
into like-new condition. Recently constructed improvements that have not been previously occupied are not considered “new” if they have any
significant physical depreciation (i.e., newly constructed dwellings that have been vacant for an extended period of time without adequate
maintenance or upkeep).
C2
The improvements feature no deferred maintenance, little or no physical depreciation, and require no repairs. Virtually all building components
are new or have been recently repaired, refinished, or rehabilitated. All outdated components and finishes have been updated and/or replaced
with components that meet current standards. Dwellings in this category either are almost new or have been recently completely renovated and
are similar in condition to new construction.
C3
The improvements are well maintained and feature limited physical depreciation due to normal wear and tear. Some components, but not every
major building component, may be updated or recently rehabilitated. The structure has been well maintained.
C4
The improvements feature some minor deferred maintenance and physical deterioration due to normal wear and tear. The dwelling has been
adequately maintained and requires only minimal repairs to building components/mechanical systems and cosmetic repairs. All major building
components have been adequately maintained and are functionally adequate.
C5
The improvements feature obvious deferred maintenance and are in need of some significant repairs. Some building components need repairs,
rehabilitation, or updating. The functional utility and overall livability is somewhat diminished due to condition, but the dwelling remains
useable and functional as a residence.
C6
The improvements have substantial damage or deferred maintenance with deficiencies or defects that are severe enough to affect the safety,
soundness, or structural integrity of the improvements. The improvements are in need of substantial repairs and rehabilitation, including many
or most major components.
Quality Ratings and Definitions
Q1
Dwellings with this quality rating are usually unique structures that are individually designed by an architect for a specified user. Such
residences typically are constructed from detailed architectural plans and specifications and feature an exceptionally high level of workmanship
and exceptionally high-grade materials throughout the interior and exterior of the structure. The design features exceptionally high-quality
exterior refinements and ornamentation, and exceptionally high-quality interior refinements. The workmanship, materials, and finishes
throughout the dwelling are of exceptionally high quality.
Q2
Dwellings with this quality rating are often custom designed for construction on an individual property owner’s site. However, dwellings in
this quality grade are also found in high-quality tract developments featuring residence constructed from individual plans or from highly
modified or upgraded plans. The design features detailed, high quality exterior ornamentation, high-quality interior refinements, and detail. The
workmanship, materials, and finishes throughout the dwelling are generally of high or very high quality.
Q3
Dwellings with this quality rating are residences of higher quality built from individual or readily available designer plans in above-standard
residential tract developments or on an individual property owner’s site. The design includes significant exterior ornamentation and interiors
that are well finished. The workmanship exceeds acceptable standards and many materials and finishes throughout the dwelling have been
upgraded from “stock” standards.
Q4
Dwellings with this quality rating meet or exceed the requirements of applicable building codes. Standard or modified standard building plans
are utilized and the design includes adequate fenestration and some exterior ornamentation and interior refinements. Materials, workmanship,
finish, and equipment are of stock or builder grade and may feature some upgrades.
UAD Version 9/2011
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 25 of 28 PageID# 398
Form UADDEFINE - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM
(Source: Fannie Mae UAD Appendix D: UAD Field-Specific Standardization Requirements)
Quality Ratings and Definitions (continued)
Q5
Dwellings with this quality rating feature economy of construction and basic functionality as main considerations. Such dwellings feature a
plain design using readily available or basic floor plans featuring minimal fenestration and basic finishes with minimal exterior ornamentation
and limited interior detail. These dwellings meet minimum building codes and are constructed with inexpensive, stock materials
with limited refinements and upgrades.
Q6
Dwellings with this quality rating are of basic quality and lower cost; some may not be suitable for year-round occupancy. Such dwellings
are often built with simple plans or without plans, often utilizing the lowest quality building materials. Such dwellings are often built or
expanded by persons who are professionally unskilled or possess only minimal construction skills. Electrical, plumbing, and other mechanical
systems and equipment may be minimal or non-existent. Older dwellings may feature one or more substandard or non-conforming additions
to the original structure
Definitions of Not Updated, Updated, and Remodeled
Not Updated
Little or no updating or modernization. This description includes, but is not limited to, new homes.
Residential properties of fifteen years of age or less often reflect an original condition with no updating, if no major
components have been replaced or updated. Those over fifteen years of age are also considered not updated if the
appliances, fixtures, and finishes are predominantly dated. An area that is ‘Not Updated’ may still be well maintained
and fully functional, and this rating does not necessarily imply deferred maintenance or physical/functional deterioration.
Updated
The area of the home has been modified to meet current market expectations. These modifications
are limited in terms of both scope and cost.
An updated area of the home should have an improved look and feel, or functional utility. Changes that constitute
updates include refurbishment and/or replacing components to meet existing market expectations. Updates do not
include significant alterations to the existing structure.
Remodeled
Significant finish and/or structural changes have been made that increase utility and appeal through
complete replacement and/or expansion.
A remodeled area reflects fundamental changes that include multiple alterations. These alterations may include
some or all of the following: replacement of a major component (cabinet(s), bathtub, or bathroom tile), relocation
of plumbing/gas fixtures/appliances, significant structural alterations (relocating walls, and/or the addition of)
square footage). This would include a complete gutting and rebuild.
Explanation of Bathroom Count
Three-quarter baths are counted as a full bath in all cases. Quarter baths (baths that feature only a toilet) are not
included in the bathroom count. The number of full and half baths is reported by separating the two values using a
period, where the full bath count is represented to the left of the period and the half bath count is represented to the
right of the period.
Example:
3.2 indicates three full baths and two half baths.
UAD Version 9/2011
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 26 of 28 PageID# 399
Form UADDEFINE - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM
(Source: Fannie Mae UAD Appendix D: UAD Field-Specific Standardization Requirements)
Abbreviations Used in Data Standardization Text
Abbreviation
Full Name
Fields Where This Abbreviation May Appear
ac
Acres
Area, Site
AdjPrk
Adjacent to Park
Location
AdjPwr
Adjacent to Power Lines
Location
A
Adverse
Location & View
ArmLth
Arms Length Sale
Sale or Financing Concessions
ba
Bathroom(s)
Basement & Finished Rooms Below Grade
br
Bedroom
Basement & Finished Rooms Below Grade
B
Beneficial
Location & View
Cash
Cash
Sale or Financing Concessions
CtySky
City View Skyline View
View
CtyStr
City Street View
View
Comm
Commercial Influence
Location
c
Contracted Date
Date of Sale/Time
Conv
Conventional
Sale or Financing Concessions
CrtOrd
Court Ordered Sale
Sale or Financing Concessions
DOM
Days On Market
Data Sources
e
Expiration Date
Date of Sale/Time
Estate
Estate Sale
Sale or Financing Concessions
FHA
Federal Housing Authority
Sale or Financing Concessions
GlfCse
Golf Course
Location
Glfvw
Golf Course View
View
Ind
Industrial
Location & View
in
Interior Only Stairs
Basement & Finished Rooms Below Grade
Lndfl
Landfill
Location
LtdSght
Limited Sight
View
Listing
Listing
Sale or Financing Concessions
Mtn
Mountain View
View
N
Neutral
Location & View
NonArm
Non-Arms Length Sale
Sale or Financing Concessions
BsyRd
Busy Road
Location
o
Other
Basement & Finished Rooms Below Grade
Prk
Park View
View
Pstrl
Pastoral View
View
PwrLn
Power Lines
View
PubTrn
Public Transportation
Location
rr
Recreational (Rec) Room
Basement & Finished Rooms Below Grade
Relo
Relocation Sale
Sale or Financing Concessions
REO
REO Sale
Sale or Financing Concessions
Res
Residential
Location & View
RH
USDA - Rural Housing
Sale or Financing Concessions
s
Settlement Date
Date of Sale/Time
Short
Short Sale
Sale or Financing Concessions
sf
Square Feet
Area, Site, Basement
sqm
Square Meters
Area, Site
Unk
Unknown
Date of Sale/Time
VA
Veterans Administration
Sale or Financing Concessions
w
Withdrawn Date
Date of Sale/Time
wo
Walk Out Basement
Basement & Finished Rooms Below Grade
wu
Walk Up Basement
Basement & Finished Rooms Below Grade
WtrFr
Water Frontage
Location
Wtr
Water View
View
Woods
Woods View
View
Other Appraiser-Defined Abbreviations
Abbreviation
Full Name
Fields Where This Abbreviation May Appear
UAD Version 9/2011
Case 1:24-cr-00040-PTG Document 66-5 Filed 06/10/25 Page 27 of 28 PageID# 400
Form SCA "TOTAL" appraisal software by a la mode inc
1 800 ALAMODE
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