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APPRAISAL CONTRACT CONDITIONS 1. Hosch Appraisal & Consulting, Inc. warrants that the services will be performed in a professional manner, in accordance with established appraisal industry standards. The firm makes no further warranty of any kind, expressed or implied. 2. Disclosure of the contents of this appraisal report is governed by the bylaws and regulations of the professional appraisal organizations with which various appraisers in the firm are affiliated. These include the Appraisal Institute, The Institute of Business Appraisers, The American Society of Appraisers, and The American Society of Real Estate Counselors. 3. Hosch Appraisal & Consulting, Inc. will preserve the confidential nature of information received from the client, in accordance with established professional standards. The client agrees to preserve the confidential format and content of the appraisal report. The report and the appraiser's identity, are not to be used in whole or part, outside the client's organization, without prior written approval, except for review by auditors and legal counsel, and by the representatives of taxing authorities. 4. The persons authorizing the engagement on behalf of the client and Hosch Appraisal & Consulting, Inc. are empowered to do so. 5. The client agrees that Hosch Appraisal & Consulting, Inc. does not, either by entering into this contract, or by performing the services rendered, assume, abridge, abrogate, or undertake to discharge any duty of the client to any other entity. 6. Any use of the appraisal report, by the client, is conditioned upon payment of all fees in accordance with the agreed terms. 7. Appraisal fees are in no way contingent upon values concluded by Hosch Appraisal & Consulting, Inc. or any future event such as the securing of financing. 8. In consideration for performing the services rendered at the fee charged, Hosch Appraisal & Consulting, Inc. expressly limits its liability to five (5) times the amount of the fee paid or $50,000, whichever is less. 9. Hosch Appraisal & Consulting, Inc. expressly disclaims liability as an insurer or guarantor. Any persons seeking greater protection from loss or damage than is provided for herein, should obtain appropriate insurance. 10. Delivery schedules indicated by fee letters (unless otherwise stated), assume that: A) Written authorization and/or the retainer requested, will be received by a specified date, or in a timely manner; B) All supporting information to be provided by the client, will be readily available or provided in a timely manner; and C) The appraisers employed by Hosch Appraisal & Consulting, Inc. will be afforded ready access to the property to be appraised. 11. Fees quoted in the appraisal engagement letters are due and payable, regardless of whether or not the conclusions reached coincide with the client's expectations. 12. No opinion is intended to be expressed for matters that require legal or other specialized expertise, investigation or knowledge beyond that customarily employed by appraisers in the evaluation of real estate or businesses. 13. Unless specifically brought to the appraiser's attention, the appraiser will assume that there are no hidden or unexpected conditions of the asset to be appraised that would adversely affect or enhance the value.