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<br />ASSUMPTIONS AND LIMITING CONDmONS <br /> <br />The certification of the Appraiser appearing in this appraisal report is subject to the following <br />conditions and to such specific and limiting conditions as are set forth by the Appraiser in the <br />report : <br /> <br />1. The Appraiser assumes no responsibility for matters of a legal nature affecting the property <br />appraised or the title thereto, nor does the Appraiser render any opinion as to the title, <br />which is assumed to be marketable. The property is appraised as though under responsible <br />ownership and management. Existing liens or encumbrances have been disregarded, and <br />the property has been appraised as though free and ch~ar of existing indebtedness, unless <br />otherwise stated in the report. No easement search has been made or noted except as may <br />be described in this report. <br /> <br />2. Any sketch in this report is included to assist the reader in visualizing the property, and <br />the Appraiser assumes no responsibility for its accuracy. The Appraiser has made no <br />survey of the property. The legal description used in this report is assumed to be correct. <br /> <br />3. The Appraiser assumes that there are no hidden or unapparent conditions of the property, <br />subsoil, or structures which would render it more or less valuable. No soil tests were <br />either requested or made in conjunction with this appraisal, and the Appraiser assumes no <br />responsibility for such conditions or for engineering which might be required to discover <br />such factors. <br /> <br />I <br />I <br />I <br /> <br />4. Information, estimates and opinions furnished to the Appraiser and contained in this report <br />were obtained from sources considered reliable and believed to be true and correct. <br />However, responsibility for accuracy of such items is not assumed by the Appraiser. <br /> <br />5. <br /> <br />Disclosure by the Appraiser of the contents of this appraisal report is subject to review in <br />accordance with the by-laws and regulations of the professional appraisal organizations <br />with which the Appraiser is affiliated. <br /> <br />6. <br /> <br />On all appraisals involving proposed construction, the appraisal report and value <br />conclusions are cOiltingent upon completion of the proposed improvements in accordance <br />with the plans and specifications submitted to the Appraiser for review. As per USPAP <br />Standards 1-4.h; the appraiser must examine plans & specs or equivalent, the anticipated <br />completion time frame and estimsted costs of the project. <br /> <br />7. <br /> <br />The Appraiser is not required to appear in court or give testimony by reason of completion <br />of this assignment without predetermined arrangements and agreements. <br /> <br />"-~'''''''..',. ;-.~,."'.~ <br /> <br />".~'_',~._._"~'"'" <br /> <br />. ~~~_' w <br /> <br />"~'--':'-.''''.,",~<- --~'--- <br /> <br />5 <br />