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<br />EXTRAORDINARY ASSUMPTIONS <br /> <br />An extraordinary assumption is defined by the Uniform Standards of Professional Appraisal <br />Practice (2004 Edition. The Appraisal Institute, page 5) as "an assumption. directly related to a <br />specific assignment, which, if found to be false, could alter the appraiser's opinions or <br />conclusions. Extraordinary assumptions presume as fact otherwise uncertain infonnation about <br />physical, legal or economic characteristics of the subject property; or about conditions external to <br />the property. such as market conditions or trends; or about the integrity of data used in an <br />analysis." <br /> <br />This appraisal report has been made with the following extraordinary assumptions: <br /> <br />. A survey was not provided to the appraisers. Therefore, the land area and gross building <br />area was based upon the information provided by the property owner, Happy Harbor <br />Methodist Home and Methodist Homes for Older People (The Aldersgate Trust). <br /> <br />. The subject property is a skilled nursing home facility which is currently owned and <br />operated by The Aldersgate Trust. This entity is a non-profit organization and therefore, <br />the property is tax exempt. FOT analysis purposes we have estimated the assessed value of <br />the subject property based upon fOUT tax comparables in order to estimate the market <br />value. Excluding the projected tax expense would represent an investment value and not <br />market value as requested. <br /> <br />The Gerald A. Tee! Company, Inc. <br />