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SCOPE OF REVIEW PROCESSIn accordance with Standard Rule 3-1c of USPAP, the following disclosure is made concerning the nature, extent, and detailof the review process conducted in connection with this review assignment: In preparing the review, the reviewer hasassumed and relied upon the accuracy of all facts reported in the appraisal except those that reviewer has verifiedindependently as indicated below.Reviewed appraisal requisition/engagement letterConfirmed some/all comparable rental dataRead the entire appraisalConducted an independent market search for other dataRead portions of the appraisalPlans were reviewed and area calculations checkedInspected the subject property (cursory drive-by)Reviewed leases for the subject propertyInspected the neighborhood (cursory drive-by)Math checked for the Cost ApproachInspected some/all of the comparable sale dataMath checked for the Sales Comparison ApproachInspected some/all of the rent comparable dataMath checked for the Income ApproachIdentified any Extraordinary Assumptions used in thecompletion of the review assignment.Completed Alternative Valuation Analysis in accordance withSR-1 and SR-2 of USPAP.Confirmed some/all comparable sales dataOther (Please specify):Overview of Approaches to Value: All three approaches to value were considered and utilizedin the valuation of the subject property.Property Description: The Buckeye Self Storage Mini-Warehouse Facility consists of sevenMini-Warehouse Buildings and three Multi-Tenant Warehouse/Shop Buildings. The total grossbuilding area for all buildings is 49,140 SF. The improvements are located on five adjacent lotsthat contain approximately 242,150 SF in Blooming Grove, Wisconsin.Subject History: The current owner of record is Branum Genco Development Company. Therehave been no reported sales of the subject property throughout a five year sales history search.Zoning: Zoning of the property is C-1 and C-2, Commercial Development District, as approvedby Dane County, whom oversees the Town of Blooming Grove zoning. It is assumed that theproperty is constructed in compliance with all applicable zoning and building codes. Theimprovements are anticipated to be legal and conforming with the zoning for this area. It isassumed that the property is constructed in compliance with all applicable zoning and buildingcodes.Regional, Neighborhood, Market Analysis: A regional and market area analysis was providedin Section IV of the report.The City of Madison and the Dane County area have historically been regarded as having a highquality of life and stable economic base. The area’s strong economy, employment base,governmental influence, and stable housing market are all indicators of a strong and healthy localeconomy. Madison’s generally strong economy has had a positive effect on its real estate market.Overall, the long-term prospects for this area and its real estate market conditions are positive.6

The subject property is located in the Town of Blooming Grove, Dane County, Wisconsin. Theprimary market area boundaries include County Highway BB to the North, Interstate 90/39 to theWest, Highway 12/18 to the South, and County Highway N to the East. Overall, theneighborhood is considered to be rural in nature with easy access to newer commercial andresidential developments, especially on the east side of Madison.The subject property is easily accessible and visible from Highway AB, which is accessible fromBuckeye Road further north of the subject property in Madison and Highway 12/18/BeltlineHighway further south of the subject property. The subject has easy access and convenientlyserves residents on the east side of Madison as well as Cottage Grove. It is anticipated that themarket area will continue to slowly develop or remain stable in the near future.Cost Approach: Six comparable land sales and one listing were reviewed in determining theland value of the subject property. The comparables ranged from 65,544 SF to 354,901 SF andindicated a range of prices from 3.35/SF to 5.50/SF before adjustments. Adjustments weremade for sale characteristics, conditions of sale, economic conditions, date of sale,location/access & visibility, size and other physical characteristics. Due to market conditions themost recent sales were given more weight. The subject land is concluded at 2.00/SF for a finalland value of 485,000, rounded.The total replacement cost new for the subject, estimated using the Marshall Valuation Service,is 1,522,693, including an entrepreneurial profit of 148,718. An overall range of incurablephysical depreciation is between 8.57% and 28.57% for the various components of the property,functional obsolescence is estimated at 10%, and economic obsolescence at 15%, resulting in adepreciated value of 963,187. Adding the land value of 485,000 results in a total indicated “AsIs” value of 1,450,000, rounded.Sales Comparison Approach: Five sales comparables were reviewed in determining themarket value for the subject. The sales occurred between November 2007 and September 2008and ranged in price from 26.98/SF to 44.49/SF, and 4,968/unit to 7,353/unit beforeadjustments. After adjustments, the prices ranged from 31.56/SF to 40.04/SF and 5,400/unitto 6,618/unit. The subject is concluded at 30/SF with 49,140 SF for 1,475,000, and 6,500/unit with 212 units for 1,380,000. The property is felt to fall within this range.Income Approach: After an analysis of the subject lease summary and four comparable rentals,the subject current rent level is concluded to be at or near market levels. The total annual grosspotential income is projected at 263,160. The vacancy/collection loss is estimated at 20%. Theproperty appears to reflect a current vacancy of 33% and base on market norms and the subjecthistory this was felt to be appropriate. This resulted in an effective gross potential income of 210,528. Expenses for the subject total 82,355 for a projected net operating income of 128,173. The capitalization rate is concluded at 9% as supported by the Band of Investment,survey data and sales extraction. This resulted in an “As Is” value of 1,420,000, rounded.Reconciliation: All three approaches to value were considered and utilized in the valuation ofthe subject property. The Income Approach was given the greatest weight, with the SalesComparison Approach used as a “check” against it. The Cost Approach was given the leastconsideration in the valuation.7

Review comments: Overall the appraisal is acceptable. Given the occupancy history theconcluded OAR appears appropriate. Placing the most weight on the Income approach isacceptable given the investor calculus of a typical purchaser. TCONCLUSION:Subject to the comments noted above, the subject appraisal is felt to be in compliance withFIRREA, USPAP and XXXXXXXX Bank’s appraisal standards and the fee simple “As Is”value conclusion of 1,425,000 as of 5/6/2011 is felt to be supported and acceptable forunderwriting purposes.8

REVIEW APPRAISER-ASSUMPTIONS, LIMITING CONDITIONS AND CERTIFICATIONReview Appraiser:Property Name:Property Address:Appraiser/Firm:Interest Valued:Date of Review:Value Conclusion:J. Travers Price, CGA #221XXXXXXXXXXXXXXXXXXXX, Blooming Grove, WIKevin F. Meicher, Brian J. Richardson/Meicher Real Estate LLCFee Simple5-19-11 1,425,000 “As Is” 5/6/2011ASSUMPTIONS & LIMITING CONDITIONS1)The reviewer assumes no responsibility for matters legal in nature nor renders any opinion as to the title, which is assumed to bemarketable.2) No expert witness testimony or other appearance in court will be required of the reviewer on matters pertaining to this subject reportunless previous arrangements have been made.3) This review is to be used only in its entirety and only for the purposes for which it was prepared.4) The reviewer assumes that there are no hidden or un-apparent conditions of the property, subsoil, or structures, which would render theproperty more or less valuable. The reviewer assumes no responsibility for any such conditions or for any engineering surveys, whichmight be required to discover such conditions.5) Any information furnished by others and included in this review is from sources deemed to be reliable and believed to be true andaccurate, but is in no way guaranteed by the reviewer.6) Disclosure of the contents of this review is governed by the By-laws and Regulations of the Appraisal Institute. Neither all nor any partof the contents of this review shall be disseminated to the public through advertising media, news media, sales media, or any publicmeans of communication, without the prior written consent and approval of the author(s).7) The opinion or confirmation of value expressed here is valid only for the stated purpose as of market condition prevailing as of the date ofthe reviewed appraisal.8) It is assumed that the property is in full compliance with all applicable Federal, State, and Local Environmental Regulations and Laws,unless noncompliance is specifically stated, defined and considered in the appraisal report or review.9) It is assumed that all required licenses, certificates of occupancy, consents, or other legislative or administrative authority from any Local,State or Federal Government, or private entity or organization have been or can be obtained or renewed for any use on which the valueestimate contained in this reviewed report depends.10) Unless otherwise stated in this review or the subject report, the existence of hazardous substances which may or may not be present onthe subject property, of other environmental conditions, are not known or were not observed. The reviewer, however, is not qualified toidentify such substances or conditions. If the presence of such substances or conditions may affect the value of the property, the valueestimate and review of same is predicated on the assumption that there are no such conditions on or in the property.REVIEWER’S EXTRAORDINARY ASSUMPITONUnless otherwise stated, all data provided in the appraisal reviewed is assumed to be factual, accurate and complete and that there has been noomission of data that would affect the reviewer’s conclusions. Such data includes information about physical, legal, or economiccharacteristics of the subject property or about conditions external to the property, such as market conditions or trends, or the integrity of dataused in the analysis.CERTIFICATIONI certify that to the best of my knowledge and belief:- The facts and data reported by the review appraiser and used in the review process are true and correct.- the analyses, opinions, and conclusions in this review report are limited only by the assumptions and limiting conditions stated inthis review report, and are my personal, impartial, and unbiased professional analyses, opinions and conclusions.- I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect tothe parties involved.- I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment.- my engagement in this assignment was not contingent upon developing or reporting predetermined results.- my compensation is not contingent on an action or event resulting from the analyses, opinions, or conclusions in this review orfrom its use.- my analyses, opinions, and conclusions were developed and this review report was prepared in conformity with the UniformStandards of Professional Appraisal Practice.- I did not personally inspect the subject property of the work under review.- no one provided significant real or personal property appraisal or appraisal review assistance to the person(s) signing thiscertification.5-19-11J. Travers Price, CGA #221Date9

Qualifying Factors and Scope of Work for this Appraisal Review: This is a desk review; an external physical inspection of the subject property and comparables was not made. The reviewer has read and analyzed the information furnished in the report. The purpose of this activity is to provide an opinion of the appraisal's reasonableness and its