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ASSUMPTIONS AND LIMITING CONDITIONS <br /> This appraisal report has been made based on the following assumptions <br /> and limiting conditions. Use of this report for any purpose constitutes acceptance <br /> of these assumptions and limiting conditions. <br /> It is assumed that: <br /> 1. The legal description and size are correct. <br /> 2. The title to the property is marketable. No liability is assumed for matters of <br /> a legal nature such as title defects, encroachments, liens, etc. <br /> 3. The numerous encumbrances or defects of title are explained in "Property <br /> Rights Appraised". <br /> 4. The property is free and clear of all liens other than those mentioned in this <br /> report. <br /> 5. The property will be efficiently managed and properly maintained. <br /> 6. All engineering is correct. No new survey was made of the property and <br /> sketches and maps in this report are for illustrative purposes only. <br /> 7. That there are no hidden or unapparent conditions of the property, subsoil or <br /> structures which may render it more or less valuable. The appraiser <br /> assumes no responsibility of such conditions, or for engineering which may <br /> be required to discover these factors. <br /> 8. The existence of hazardous substances, including without limitation <br /> asbestos, polychlorinated biphenyls, petroleum leakage, or agricultural <br /> chemicals, which may or may not be present on the property, or other <br /> environmental conditions, were not called to the attention of nor did the <br /> appraiser become aware of such during the appraiser's inspection. The <br /> appraiser has no knowledge of the existence of such materials on or in the <br /> property unless otherwise stated. The appraiser, however, is not qualified to <br /> test such substances or conditions. If the presence of such substances, <br /> such as asbestos, urea formaldehyde foam insulation, or other hazardous <br /> substances or environmental conditions, may affect the value of the <br /> property, the value estimated is predicated on the assumption that there is <br /> no such condition on or in the property or in such proximity thereto that it <br /> would cause a loss in value. No responsibility is assumed for any such <br /> 12 <br />