Hacienda Paloma II, Luquillo

Vega del Rio Development, Corp.

Popular Mortgage

INFORMATION AS OF 07/02/2009

PROPOSED SUBDIVISION COMPOSED OF 65 ONE STORY SINGLE FAMILY DETACHED RESIDENTIAL UNITS. LOCATED WEST TO SR# 991, KM 0.8, APPROXIMATELY 1.2 MILES SOUTH FROM MAIN ROUTE SR # 3, SABANA WARD, LUQUILLO MUNICIPALITY. THIS APPRAISAL ASSUMES THAT ALL ARPE REGULATIONS HAVE BEEN MET. FAILING THIS, WILL RENDER THE APPRAISAL NULL OR VOID. THERE ARE NO APPARENT ADVERSE FACTORS WHICH COULD AFFECT THE SUBJECT'S MARKETABILITY. THE PROJECT CONFORMS TO THE SURROUNDING DEVELOPMENTS. SUBJECT PROPERTY IS AT A REASONABLE DISTANCE FROM ALL NECESSARY SUPPORTING FACILITIES INCLUDING SCHOOLS, SHOPPING, RECREATION, AND EMPLOYMENT CENTERS. OWNER OCCUPANCY IS PREDOMINANT.

OMAR MONTALVO, CRA, MBA