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<br />GENERAL ASSUMPTIONS <br /> <br />This appraisal report has been made with the following general assumptions: <br /> <br />1. No responsibility is assumed for the legal description or for matters including legal or <br />title considerations. Title to the property is assumed to be good and marketable unless <br />otherwlse stated. <br /> <br />2. The property is assumed to be free and clear of any or all liens or encumbrances unless <br />oUlerwise stated. AU taxes are assumed to be current. In specific cases, at the request <br />of the client, the appraisers may present data on past due ad valorem taxes. However, <br />this data is not certified and is only a verbal confirmation by the tax authority. This <br />data should not be relied upon by the client and has no effect on the conclusion herein. <br /> <br />3. The property is assumed to be under responsible, adequately capitalized ownership and <br />competent property management. <br /> <br />4. The infonnation furnished by others is believed to be reliable. However, no warranty <br />is given for its accuracy. <br /> <br />5. All engineering is assumed to be correct. TIle plot plans and illustrative material in <br />this report are included only to assist the reader in visualizing the property. <br /> <br />6. It is assumed that there are no hidden or unapparent conditions oftbe property, subsoil <br />or structures that render it more or less valuable. No responsibility is assumed for such <br />conditions or for arranging for engineering studies that may be required to discover <br />them. <br /> <br />7. It is assumed that there is full compliance with all applicable federal, state and local <br />environmental regulations and laws unless noncompliance is stated, defined and <br />considered in the appraisal report. <br /> <br />8. It is assumed that aU applicable zoning and use regulations and restrictions have been <br />complied with unless a non-conformity has been stated, defined and considered in the <br />appraisal report. <br /> <br />9. It is assumed that all required licenses, certificates of occupancy, consents or other <br />legislative or administrative authority from any local, state or national government or <br />private entity or organization have been or can be obtained or renewed for allY use on <br />which the value estimate contained in this report is based. <br /> <br />10. It is assumed that the utilization of the land and improvements is within the boundaries <br />or property lines of the property described, and that there is no encroachment or <br />trespass unless noted in the report. <br /> <br />711e Gerald A Tee! Company, inc. <br />