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ASSUMPTIONS AND LIMITING CONDITIONS <br /> The certification of this 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 <br /> property appraised or the marketability of the 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 <br /> indebtedness, unless stated otherwise. <br /> 4. To the best of this appraiser's belief, the information contained in this report is true and <br /> reported correctly. The information in this report, while not guaranteed, but has been <br /> taken from sources or records believed to be reliable. <br /> 5. The Appraiser assumes that there exists no hidden defects with the site, sub -soil, or <br /> is <br /> improvements, which would render it more or less valuable. <br /> 6. 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 /> 7. On all appraisals involving proposed construction, the appraisal report and value <br /> conclusions are contingent upon completion of the proposed improvements in accordance <br /> with the plans and specifications submitted to the Appraiser for review. <br /> 8. The Appraiser is not required to appear in court or give testimony because of having made <br /> this report, unless arrangements have been made in advance. For eminent domain <br /> proceedings, expert witness testimony cannot be given until this report has been updated <br /> to the date of quick take. Such update and testimony is subject to additional fees. <br /> 9. This report, or any portions thereof, will not be distributed, or otherwise <br /> disseminated, to anyone other than the person whom commissioned this or those <br /> involved in the certification. <br /> 10. This entire appraisal report must be considered as a whole and any excerpts or portions <br /> from this report cannot be considered separately. <br /> 11. It is assumed that there is full compliance with all applicable federal, state and local <br /> environmental regulations and laws, as well as applicable zoning regulations and <br /> restrictions, unless otherwise stated in this report. <br /> 12. It is also assumed that all required licenses, consents or other authority from any local, <br /> 4 <br /> 1 <br />