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Aldersgate Trust-Happy Harbor property to CLP (Summary Appraisal Report-end of deed paperwork)
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Aldersgate Trust-Happy Harbor property to CLP (Summary Appraisal Report-end of deed paperwork)
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Last modified
10/28/2010 8:10:40 AM
Creation date
11/25/2024 11:31:25 AM
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La Porte TX
Document Type
Deeds
Date
6/30/2009
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<br />GENERAL LIMITING CONDITIONS <br /> <br />The appraiser will not be required to give testimony or appear in COUli because of having made this <br />appraisal with reference to the property in question, unless arrangements have been previously made <br />thereof. <br /> <br />Any cause of action resulting between the Gerald A. Teel Company, Inc. and the client in <br />conjunction with this appraisal, either directly or indirectly, will be limited in damages to the amount <br />of the appraisal fee received for the assignment. <br /> <br />Possession of this report, or a copy thereof, does not can)' with it the right of publica lion. It may not <br />be used for any purpose by any person other than the party to whom it is addressed without the <br />written consent of the appraiser and, in any event, only with proper written qualification and only in <br />its entirety. <br /> <br />In the case where an improvement is considered, the distribution of the total valuation between land <br />and improvements applies only under the rep0l1ed highest and best use of the property. The <br />allocations of value for land and improvements must not be used in conjunction with any other <br />appraisal and are invalid if so used. <br /> <br />Disclosure of the contents of this report is governed by the By-Laws and Regulations of the <br />Appraisal Institute. Neither all nor any palt of the contents of this report, or copy thereof, shall be <br />conveyed to the public through advertising, public relations, news, sales or any other media without <br />written consent and approval of the appraiser. Nor shall the appraiser, firm or professional <br />organization of which the appraiser is a member be identified without prior written consent of the <br />appraiser. <br /> <br />The physical condition of the improvement<; described herein is based on visual inspection only. No <br />liability is assumed for the soundness of snuctural members including roof (wear and leakage), <br />foundation (settling or leakage), footings, exterior and interior walls, paltitions, floors or any other <br />part of the structure since no engineering tests were made of same and no tennite inspection was <br />conducted. Furthermore, we accept no legal responsibility for the efficiency of the plumbing and <br />electrical systems, the heating and air conditioning equipment, or any major appliances. Unless <br />otherwise noted, all of these items appeared adequate and operational. <br /> <br />The Americans with Disabilities Act ("ADA") became effective January 26, 1992. The appraisers <br />have not made a specific compliance survey and analysis of this property to detennine whether or not <br />it is in conformity with the various detailed requirements of the ADA. It is possible that a <br />compliance survey of the property, together with a detailed analysis of the requirements of the ADA, <br />could reveal that the property is not in compliance with one or more of the requirements of the Act. <br />If so, this fact could have a negative effect upon the value orthe property. Since the appraisers have <br />no direct evidence relating to this issue, we did not consider possible non-compliance with the <br />requirements of ADA in estimating the value of the propclty. <br /> <br />The appraisers have inspected the subject prope11y with the due diligence expected of a professional <br />real estate appraiser. In this appraisal assignment, the existence of potentially hazardous material <br />used in the construction or maintenance of the building, such as the presence of urea fOJ111aldehyde <br />foam insulation or asbestos and/or existence of toxic waSle, which mayor may not be present on the <br />property, has not been considered. The appraiser is not qualified to detect such substances. We urge <br />the client to relain an expert in this field if desired. <br /> <br />The Gera(d A. Teel Company, Inc. <br />
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