03-29-10 Special Called Regular Meeting of the Fiscal Affairs Committee

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SUMMARY APPRAISAL REPORT 21 GENERAL ASSUMPTIONS AND LIMITING CONDITIONS: The following Assumptions and Limiting Conditions apply to this real estate appraisal conducted by TBEBILICEK COMPANY. Appraisals are performed and written reports are prepared with the intention of ~hem being in conformity with FlRREA and requirements of the Uniform Standards of Professional Appraisal Practice of the Appraisal Foundation as well as the Code of Professional Ethics and the Standards of Professional Appraisal Practice of the Appraisal Institute. No opinion is rendered as to property title, which is assumed to be good and marketable. Unless otherWise stated, no consideration is given to liens or encumbrances against the property. Sketches, maps, photosl or other gtaphic aids included in appraisal reports are intended to assist the reader in ready identification and visualization of the property, and are not intended for technical pUlposes. Appraisal reports may con41in estimates of future fmancial performance, estimates or opinions that represent the appraisds view of reasonable expectations at a pa1iicular point in time, but such information, es~ates or opinions are not offered as predictions or as assurances that a palticular level of income or profit will be achieved, that events will occur, or that a particular price will be offered or accepted. Actual results achieved during the period covered by our prospective fmancial analyses wiII vary from those described in our report, and the variations maybe material. 1. It is assumed that legal, engineering, or other professional advice, as may be required, has been or will be obtained from professional sources and that 'the appraisal report wiII :not be used for guidance in legal or teclmical matters such as, but not limited to, the existence of encroaclunents, easements or other discrepancies a,ffecting the legal description of the property. It is aS$umed that there are no concealed 01' dubious conditions of the subsoil or subsurface waters including ,vater table and flood plain, unless otherwise noted. We further assume there are no regulations of any goverrunent enthy to control or restrict the use of the property unless specifically refen'ed to in the report. It is assumed that the property will not opetate in violation of any applicable govel'nment regulations, codes, ordinances or statutes. f "I, In the absence of competent technical advice to the Gontrary, it is assumed that the property being appl"aised is not adversely affected by concealed or unapparent hazards such as, but not limited to asbestos, hazardous or contaminated substances, toxio waste or radioaotivity. The repQ~, the final opinion of value and estimates of future fmancial performance included therein, are intended for the infOlmation of the intended user, soll:}ly for the pUl-poseS stated therein, and should 110t be relied upon for any other purpose. The client shall not distribute the report to third parties without priorpetmission of THE !3ILrcEK COMPANY~ Before such permission shall be provided, the third party shall agree to hold nm BILICEK COMPANY halmless relative to their use of the report. Neither out report, nor its contents, nor any The Bilicek Company