ZONING REPORT

[PROPERTY NAME]
[PROPERT ADDRESS]
Appleton, WI 54613

As of August 24, 2016

Prepared for:
[LENDER NAME]

Job Reference # 11725

55 Beattie Place, Suite 1510

Greenville, SC 29601
www.armadaanalytics.com
 Table of Contents

Executive Summary ...................................................................................................................................3

Zoning District and Permitted Use .............................................................................................................4

Building Requirements ..............................................................................................................................5

Lot Requirements ......................................................................................................................................6

Parking Requirements ...............................................................................................................................7

Adjacent Zoning ........................................................................................................................................8

Reconstruction ..........................................................................................................................................9

Code Violations ....................................................................................................................................... 10

Fannie Mae Requirements....................................................................................................................... 11

Reliance .................................................................................................................................................. 13

Appendix ................................................................................................................................................. 14

Zoning Verification Letter .................................................................................................................... 15

Code Violation Information ................................................................................................................. 16

Certificate of Occupancy ...................................................................................................................... 17

Survey ................................................................................................................................................. 19

Property Identification ........................................................................................................................ 20

Zoning Maps........................................................................................................................................ 22

Municipal Zoning Code ........................................................................................................................ 23

Non-Conforming Use & Structure Rebuildability Clause ....................................................................... 24

2
 Executive Summary

Conformance Status: Legal Conforming

Right to Rebuild: If a nonconforming building or structure is damaged or destroyed to

the extent of 50% or less of its replacement value, then it may be
restored or rebuilt to its previous condition.

Recommendation: Law and ordinance insurance is not required per Fannie Mae
Guidelines.

Zoning Jurisdiction: Appleton, Village of Little Chute, WI

Zoning District: RM: Residential Multi-family

Current Use Permitted: Yes

Zoning Ordinance Date: July 29, 2016

Built / Renovated: 2016

Units: 52

Property Type: Multifamily

Certificate of Occupancy: Yes; attached in appendix

Zoning Ordinance Requirement Summary

Conformance Status Required Subject
Building Requirements
Building height (max.) Y 45 24
Lot Requirements
Lot size (min.) Y 78,000 SF 288,388 SF
Lot width (min.) Y 80 994.8
Front property line setback (min.) Y 25 30.8
Side property line setback interior side (min.) Y 10 32.9
Rear property line setback (min.) Y 25 27.8
Lot coverage (max.) Y 35% 11.2%
Parking Requirements
Parking spaces (min.) Y 78 84

3
 Zoning District and Permitted Use

The Appleton, WI or Village of Little Chutes Residential Multi-family zone district is intended to provide for
medium-density to high-density residential areas with emphasis on multifamily residential use. According to
the general standard prescribed in 44-48 of the Appleton, WI municipal code, the following are permitted
uses within the zone district:

Single-family dwellings
Two-family dwellings
Multifamily dwellings

Legal Conforming: The subject property is a Multifamily property and is a permitted use within the
Residential Multi-family district.

Overlay District No

Conditional Use No

Special Use Permit No

Variances No

4
 Building Requirements

Height. Per 44-48 of the zoning code, a Multifamily property in zone RM district must not exceed a
maximum height of 45 feet.

Conforming: The apartment buildings are two stories and estimated at 24 in height.

5
 Lot Requirements

Lot size. Per 44-48 of the zoning code, a Multifamily property in zone RM district must have a minimum lot
area of 1,500 square feet per dwelling unit.

Conforming: The subject is required to have a minimum lot area of 78,000 SF (52 units x 1,500 SF).
The survey provided shows a lot area of 288,388 SF.

Lot width. Per 44-48 of the zoning code, a Multifamily in zone RM district must have a minimum lot width
of 80 feet.

Conforming: The survey provided shows a lot width of 994.75.

Property line setback. Per 44-48 of the zoning code, residential buildings in zone RM district must be set
back a minimum of 25 from the front, 10 from the sides, and 25 from the rear.

Conforming: The survey shows the smallest property setback of 30.8 from the front, 32.9 from the
sides, and 27.8 from the rear.

Lot coverage. Per 44-48 of the zoning code, a Multifamily property in zone RM district must not exceed a
maximum lot coverage of 35%.

Conforming: The subject covers 11.2% of the lot (building footprint of 32,208 SF / 288,388 SF of
total lot area).

6
 Parking Requirements

Off-street parking. Per 44-48 of the zoning code, the minimum off street parking requirements are based
on 3 spaces per two-dwelling units.

Conforming: The subject is required to have a minimum of 78 parking spaces (52 units x 1.5 spaces).
The survey indicates 84 parking spaces on site.

7
 Adjacent Zoning

North Single family

South Commercial Highway

East Single family

West City of Appleton

8
 Reconstruction

Nonconforming buildings and/or structures. Per 44-154, if a nonconforming building or structure is

damaged or destroyed to the extent of 50% or less of its replacement value, then it may be restored or rebuilt
to its previous condition.

The subject is a legal conforming use and structure and may be rebuilt as is in the event of any level
of destruction.

9
 Code Violations

Zoning Code Violations None reported

Source: Community Development Village of Little Chute, WI
James E. Moes, 920.423.3870
Building Code Violations None reported
Source: Community Development Village of Little Chute, WI
James E. Moes, 920.423.3870
Fire Code Violations None reported
Source: Community Development Village of Little Chute, WI
James E. Moes, 920.423.3870

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 Fannie Mae Requirements

Current Zoning or Land Use. The Lender must verify the current zoning or land use designation for the
property and determine whether the property conforms to the current zoning or land use designation.

The subject property is currently zoned RM and is a legal conforming use.

Certificates of Occupancy: All units in Non-Recently Completed Properties shall have had at some point in
time a Certificate of Occupancy issued by the applicable governmental authority. The Lender must use all
reasonable efforts to obtain copies of all Certificates of Occupancy. If the Lender cannot obtain copies of all
Certificates of Occupancy or other sufficient evidence that Certificates of Occupancy for all units in the
Property have been issued because of the age of the Property or other reasonable cause, the Lender must
use its judgment whether to proceed with the transaction and evidence its reason for proceeding in the
Lenders Transaction Approval Memo.

Certificates of Occupancy covering the entire property were provided by the Village of Little Chute
and are included in the appendix.

Restoration: If the property is a legal non-conforming use, the Lender must assess whether the Mortgage
can be supported in the event of a casualty that results in the Borrowers inability to rebuild the
improvements on the Property to the density level immediately prior to such casualty, taking into
consideration the Borrowers insurance coverages and the continued use, marketability and economic
viability of the Property in the event of full or partial destruction of the Property. The Lender must take the
following into account in its underwriting:

1. the percentage of damage that could occur before the property would be forced to comply with current
zoning requirements,

2. the property characteristics to which the percentage applies (e.g., market value, assessed value,
replacement cost or unit count),

3. for multiple building properties, whether the test applies to a single building or the complex as a whole.

4. the amount and type of insurance coverage maintained by the applicable Borrower.

The subject is a legal conforming use and structure and may be rebuilt as is in the event of any level
of destruction.

Law and Ordinance Coverage: For properties that have any type of non-conformance under current building,
zoning, or land use laws or ordinances, law and ordinance coverage shall be required. Furthermore, coverage
must be obtained for any Property with a construction date 25 years or more before closing.

1) Coverage A - Loss of Undamaged Portion of the Property, in an amount equal to the greater of (i) 100%
of the full replacement cost of the Property less the damage threshold of the local building ordinance, or
(ii) 50% if the threshold of the local building ordinance is not explicitly stated.

2) Coverage B Demolition/Debris Removal Cost: Minimum 10% of the full replacement cost of the
Property.

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3) Coverage C - Increased Cost of Construction: Minimum 10% of the full replacement cost of the Property.

The subject property is a legal conforming use and structure. Furthermore, the subject is under 25
years of age; therefore, law and ordinance insurance is not required per Fannie Mae guidelines.

12
 Reliance
Zoning Report prepared by:

Armada Analytics, Inc.

55 Beattie Place, Suite 1510
Greenville, SC 29601
www.armadaanalytics.com

Prepared By:
Joseph Aldibbini, Zoning Analyst
jaldibbini@armadaanalytics.com

Reviewed By:
Zack Toates, Vice President
ztoates@armadaanalytics.com
864-751-9071

Job Reference # 11725

For purposes of this report, Armada Analytics, Inc. has relied on information provided by the following
sources:

Municipality Community Development Village of Little Chute, WI

James E. Moes, Director of Community Development
920.423.3870
Survey Robert E. Lee & Associates, Inc.
ALTA / NSPS Land Title Survey dated August 22, 2016
Prepared by Dennis E. Reim, State of WI Registration No. 1590
Appraisal Real Estate Counselors International Inc.
Dated August 2, 2016
Prepared by Robert A. Wilson, State of WI License No. 2141-010
Fannie Mae AllRegs Online
Requirements

This report is for the use and benefit of, and may be relied upon by [LENDER NAME], Fannie Mae and any
successors and assigns (Lender); independent auditors, accountants, attorneys and other professionals
acting on behalf of Lender; governmental agencies having regulatory authority over Lender; designated
persons pursuant to an order or legal process of any court or governmental agency; prospective purchasers
of the Mortgage; and with respect to any debt (or portion thereof) and/or securities secured, directly or
indirectly, by the Property which is the subject of this report, the following parties and their respective
successors and assigns: any placement agent or broker/dealer and any of their respective affiliates, agents
and advisors; any initial purchaser or subsequent holder of such debt and/or securities; any Servicer or other
agent acting on behalf of the holders of such debt and/or securities; any indenture trustee; any rating agency;
and any institutional provider from time to time of any liquidity facility or credit support for such financings.
In addition, this report, or a reference to this report, may be included or quoted in any offering circular,
information circular, offering memorandum, registration statement, private placement memorandum,
prospectus or sales brochure (in either electronic or hard copy format) in connection with a securitization or
transaction involving such debt (or portion thereof) and/or securities.

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 Appendix

Zoning Verification Letter .................................................................................................................... 15

Code Violation Information ................................................................................................................. 16

Certificate of Occupancy ...................................................................................................................... 17

Survey ................................................................................................................................................. 19

Property Identification ........................................................................................................................ 20

Zoning Maps........................................................................................................................................ 22

Municipal Zoning Code ........................................................................................................................ 23

Non-Conforming Use & Structure Rebuildability Clause ....................................................................... 24

14
Zoning Verification Letter

15
Code Violation Information

16
Certificate of Occupancy

17
18
Survey

19
 Property Identification

Subject [Exterior per Google Earth]

Subject Aerial Google Maps

20
Regional Map

Local Map

21
Zoning Maps

22
 Municipal Zoning Code

Appleton, WI or Village of Little Chute Code

(Pertinent Sections)

23
Non-Conforming Use & Structure Rebuildability Clause

Appleton, WI or Village of Little Chute Code

24