The subject property is located in Quintas de Canovanas II Dev, a urban neighbohrood within the municipality of Canovanas with adequate infrastructure. The

subject property is located in an open access environment. Properties in this area do not share a set pattern of design or type of construction. Proximity to hospitals, schools, employment and

shopping centers, and recreational areas is average. No adverse conditions were observed. Other Land Uses (15%) is for Vacant Land, Parks, Public Uses, Etc.

Market Conditions (including support for the above conclusions) Market is active in the subject market range. Typical financing is available from a variety of

Institutions. Analysis of sales and resales of properties in the neighborhood indicates a typical marketing time of 6-12 months. Supply and demand are in

balance in the subject market range. Some sales and financing concessions available in the subject market area.



improvements are in Average(C4) condition. Quality of construction is average(Q4). No functional or external inadequacies were observed or apparent. Utilities were connected at the time of

inspection, tested and working properly. The subject property has hot water infrastructure in Kitchen, Bathrooms, and Laundry. After repairs, the subject property will comply to applicable

minium HUD property standards set forth in HUD handbook 4000.1. Appliances and equipments included in sales transaction are considered personal property, therefore not considered in

value estimate. Repairs: Refer to Repair & Maintenance Addendum.

Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? Yes No If Yes, describe

No adverse conditions observed at the time of inspection.