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A 'TIINS AND _I iTINGCIN) T INS <br /> Limited Scope Summary (Restricted) Appraisal <br /> The certification of this limited scope summary (restricted) appraisal report is subject to the following assumptions and limiting <br /> conditions: <br /> 1. The Appraiser assumes no responsibility for matters of a legal nature affecting the property appraised or the marketability of the <br /> title. <br /> 2. The property is assumed to be under responsible ownership and management <br /> 3. The property is appraised as though clear and free of any liens, encumbrances, or indebtedness, unless stated otherwise. <br /> 4. To the best of this appraiser's belief, the information contained in this report is true and reported correctly. The information in <br /> this report, while not guaranteed, but has been taken from sources or records believed to be reliable. The methods of collecting <br /> and confirming data are based on typical appraisal practices for limited scope reporting. <br /> 5. The Appraiser assumes that there exists no hidden defects with the site, sub -soil, or improvements, which would render it more <br /> or less valuable, unless otherwise noted. <br /> 6. Disclosure by the Appraiser of the contents of this appraisal report is subject to review in accordance with the. by -laws and <br /> regulations of the professional appraisal organizations with which the Appraiser is affiliated. <br /> 7. The highest and best use is assumed to be as currently utilized, unless otherwise noted. <br /> 8. The Appraiser is not required to appear in court or give testimony because of having made this report, unless arrangements have <br /> been made in advance, and additional fees are arranged, <br /> 9. This report, or any portions thereof, will not be distributed, or otherwise disseminated, to anyone other than the person whom <br /> commissioned this report or those involved in the certification. The use of this appraisal is restricted to the person commissioning <br /> this report, and is not intended for lending purposes. <br /> 10. This entire appraisal report must be considered as a whole and any excerpts or portions from this report cannot be considered <br /> separately. <br /> 11. It is assumed that there is full compliance with all applicable federal, state and local environmental regulations and laws, as well <br /> as applicable zoning regulations and restrictions, unless otherwise stated in this report. <br /> 12. It is also assumed that all required licenses, consents or other authority from any local, state, or federal governments has been <br /> obtained or can be renewed. <br /> 13. It is assumed that the subject improvements are within the stated boundaries, and that there are no encroachments on neighboring <br /> property, or neighboring encroachments on the subject property, unless otherwise stated in this report. <br /> 14. The existence of potentially hazardous material such as urea- formaldehyde foam insulation, asbestos, existence of toxic water, <br /> toxic waste, or radon gas may have an effect on the value of the property. The Appraiser is not qualified to determine if such <br /> substances are present. The client may wish to consult an expert in this field. <br /> 15. Acceptance of or use of this appraisal report constitutes an understanding of and acceptance of these assumptions and limiting <br /> conditions. <br /> 16. This' is a limited scope summary (restricted) appraisal to determine the subject's estimated market value. The client is aware that <br /> this is a limited scope summary (restricted) appraisal, and the appraiser feels as though the reported result would not be <br /> misleading. Use of a Restricted Appraisal Report as defined and permitted by the Uniform Standards of Professional Appraisal <br /> Practice (USPAP). This report cannot be properly understood without the additional information contained in the appraiser's <br /> 12 <br />