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Assumptions and Limiting Conditions <br />44 <br />Assumptions and limiting Conditions <br />This appraisal is based on the following assumptions, except as otherwise noted in the report. <br />1. The title is marketable and free and clear of all liens, encumbrances, encroachments, <br />easements and restrictions. The property is under responsible ownership and competent <br />management and is available for its highest and best use. <br />2. There are no existing judgments or pending or threatened litigation that could affect the value <br />of the property. <br />3. There are no hidden or undisclosed conditions of the land or of the improvements that would <br />render the property more or less valuable. Furthermore, there is no asbestos or toxic mold in <br />the property. <br />4. The revenue stamps placed on any deed referenced herein to indicate the sale price are in <br />correct relation to the actual dollar amount of the transaction. <br />5. The property is in compliance with all applicable building, environmental, zoning, and other <br />federal, state and local laws, regulations and codes. <br />6. The information furnished by others is believed to be reliable, but no warranty is given for its <br />accuracy. <br />This appraisal is subject to the following limiting conditions, except as otherwise noted in the report. <br />1. An appraisal is inherently subjective and represents our opinion as to the value of the <br />property appraised. <br />2. The conclusions stated in our appraisal apply only as of the effective date of the appraisal, and <br />no representation is made as to the effect of subsequent events. <br />3. No changes in any federal, state or local laws, regulations or codes (including, without <br />limitation, the Internal Revenue Code) are anticipated. <br />4. No environmental impact studies were either requested or made in conjunction with this <br />appraisal, and we reserve the right to revise or rescind any of the value opinions based upon <br />any subsequent environmental impact studies. If any environmental impact statement is <br />required by law, the appraisal assumes that such statement will be favorable and will be <br />approved by the appropriate regulatory bodies. <br />5. Unless otherwise agreed to in writing, we are not required to give testimony, respond to any <br />subpoena or attend any court, governmental or other hearing with reference to the property <br />without compensation relative to such additional employment. <br />6. We have made no survey of the property and assume no responsibility in connection with <br />such matters. Any sketch or survey of the property included in this report is for illustrative <br />purposes only and should not be considered to be scaled accurately for size. The appraisal <br />The Glenn Center <br />irr <br />Attachment number 1 <br />H -5 Page 377 <br />