Agenda - Council Work Session - 03/12/2013

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5. The appraisers are not required to give testimony or appear in court because of having made the appraisal with reference to the property in question, unless arrangements to do so have been made beforehand. 6. Any distribution of the valuation in the report between land and improvements applies only under the existing program of utilization. The separate valuations for land and building must not be used in conjunction with any other appraisal and are invalid if so used. 7. Disclosure of the contents of the appraisal report is governed by the Uniform Standards of Professional Appraisal Practice and the Laws of the State of Minnesota. 8. Neither all nor any part of the content of the report, or copy thereof (including conclusions as to the property value, the identity of the appraisers, professional designations, reference to any professional appraisal organizations, or the firm with which the appraisers are connected) shall be used for any purpose by anyone except the client specified in the report, by any department, agency, or instrumentality of the United States, or by any department, agency, or instrumentality of the State of Minnesota without the previous written consent and approval of the appraisers. 9. The appraisers are aware of the competency provision of the USPAP and the appraisers of this report meet the standards. The appraisers have extensive appraisal experience with similar properties in and around the Minneapolis - St. Paul Metropolitan area. The appraisers have full knowledge and experience in the nature of this assignment. 10. The appraisers are aware of the Gramm- Leach - Bliley Act (G -L -B Act) effective July 1, 2001. The Federal Trade Commission (FTC)has adopted regulations to implement the G -L -B Act.' These regulations apply to appraisers as well as other providers of financial services and states that non - public personally identifiable information is not to be disseminated or re -used. The appraisers have formed the opinion that income and expense information (lease comparables) and newly constructed building information (new building cost comparables) obtained, either through interviews in the field or appraisal assignments, are considered non - public personally identifiable information and can not be disseminated under the G -L -B Act and FTC Privacy Rule. 11. The value herein assigned is based on conditions which are applicable as of the date of the appraised value. This value may be the same but also may vary at a later date due to changing market conditions. It is the appraiser's opinion that the subject property would sell in an appropriate time period should it be offered on the open real estate market at this time at about the appraised value subject to the appraisal assumptions; but a guarantee of such sale is not implied or warranted. 12. It is assumed that there is full compliance with all applicable federal, state and local environmental regulations and laws unless in compliance is stated, defined and considered in the appraisal report. 13. It is assumed that all required licenses, consents or other legislative or administrative authority from any local, state or national governmental or private entity or organization have been or can be obtained or renewed for any use on which the opinion of value contained in this report is based. 14. It is assumed that the utilization of the land is within the boundaries or property lines of the property described and that there is no encroachment or trespass unless noted within the report. Federal Trade Commission, Privacy of Consumer Financial Information; Final Rule, 16 CFR Part 313, herein referred to as "FTC Privacy Rule ".