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Attachment 1
<br />File:Assumptions & Limiting Conditions
<br />undertaken any survey of the boundaries of the subject property nor reviewed or
<br />confirmed the accuracy of any legal description of the subject property.
<br />Unless otherwise expressly noted in the Report, no issues regarding the foregoing were
<br />brought to the appraiser’s attention, and the appraiserhas no knowledge of any such facts
<br />affecting the subject property. If any information inconsistent with any of the foregoing
<br />assumptions is discovered, such information could have a substantial negative impact on
<br />the Report. Accordingly, if any such information is subsequently made known to the
<br />appraiser, the appraiserreserves the right to amend the Report, which may include the
<br />conclusions of the Report. The appraiserassumes no responsibility for any conditions
<br />regarding the foregoing, or for any expertise or knowledge required to discover them. Any
<br />user of the Report is urged to retain an expert in the applicable field(s) for information
<br />regarding such conditions.
<br />4.The appraiserhas assumed that all documents, data and information furnished by or on
<br />behalf of the client, property owner, or owner’s representative are accurate and correct,
<br />unless otherwise expressly noted in the Report. Such data and information include,
<br />without limitation, numerical street addresses, lot and block numbers, Assessor’s Parcel
<br />Numbers, land dimensions, square footage area of the land, dimensions of the
<br />improvements, gross building areas, net rentable areas, usable areas, unit count, room
<br />count, rent schedules, income data, historical operating expenses, budgets, and related
<br />data. Any error in any of the above could have a substantial impact on the Report.
<br />Accordingly, if any such errors are subsequently made known to the appraiser, the
<br />appraiserreserves the right to amend the Report, which may include the conclusions of
<br />the Report. The client and intended user should carefully review all assumptions, data,
<br />relevant calculations, and conclusions of the Report and should immediately notify the
<br />appraiser of any questions or errors within 30 days after the date of delivery of the Report.
<br />5.The appraiserassumes no responsibility (including any obligation to procure the same)
<br />for any documents, data or information not provided to the appraiser, including without
<br />limitation any termite inspection, survey or occupancy permit.
<br />6.The Report contains professional opinions and is expressly not intended to serve as any
<br />warranty, assurance or guarantee of any particular value of the subject property. Other
<br />appraisers may reach different conclusions as to the value of the subject property.
<br />Furthermore, market value is highly related to promotion effort, terms, motivation, and
<br />conclusions surrounding the offering of the subject property. The Report is for the sole
<br />purpose of providing the intended user with the appraiser’sindependent professional
<br />opinion of the value of the subject property as of the effective date of value. Accordingly,
<br />the appraisershall not be liable for any losses that arise from any investment or lending
<br />decisions based upon the Report that the client, intended user, or any buyer, seller,
<br />investor, or lending institution may undertake related to the subject property, and the
<br />appraiserhas not been compensated to assume any of these risks. Nothing contained in
<br />the Report shall be construed as any direct or indirect recommendation of appraiserto
<br />buy, sell, hold, or finance the subject property.
<br />7.No opinion is expressed on matters which may require legal expertise or specialized
<br />investigation or knowledge beyond that customarily employed by real estate appraisers.
<br />Any user of the Report is advised to retain experts in areas that fall outside the scope of
<br />the real estate appraisal profession for such matters.
<br />8.The appraiser assumes no responsibility for any costs or consequences arising due to the
<br />need, or the lack of need, for flood hazard insurance. An agent for the Federal Flood
<br />Insurance Program should be contacted to determine the actual need for Flood Hazard
<br />Insurance.
<br />9.Acceptance or use of the Report constitutes full acceptance of these Assumptions and
<br />Limiting Conditions and any special assumptions set forth in the Report. It is the
<br />Dodd Advisory & Valuation 27
<br />Qbhf!237!pg!385
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