NVI Technical College Information

"H. When the collateral is a Special Purpose Property, the appraiser must be experienced in the particular industry." − Additional Comment: Although the requirement is not found in the SBA SOP, it is often requested and stated by banks that there be at least two appraisal approaches considered in an SBA compliant appraisal. The appraiser should also provide at least two approaches.

Interest in the Property to be Appraised:

Fee Simple

Client:

BayFirst National Bank− St. Petersburg, FL

Intended User: Financial Institution

Borrower (if Applicable):

New Village Development LLC (EPC) &

Property Owner Contact Name:

Gary Beeman

Property Owner Phone:

612−991−9374

Appraisal Management Company: Valuation Methodology to Be Used:

MountainSeed Appraisal Management, LLC

Value As Is Insurable Value

Appraisal Form to Be Used:

Appraisal Report (Narrative format) − NO REVIEW

Fee:

$3900.00

Due Date:

11/6/2023

Addressee:

Your Appraisal Report should be addressed to the Financial Institution.

Client requires a signed copy of this Engagement Letter.

Revised 8.17.23

I.

INSTRUCTIONS

a. Purpose of the Assignment The purpose of the assignment is to develop and report an informed and independent opinion of the Market