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Assumptions and limiting Conditions <br /> "Report" means the appraisal report and conclusions stated therein,to which these Assumptions <br /> and Limiting Conditions are annexed. <br /> "Property" means the subject of the Report. <br /> "Appraiser(s)" means the person(s) who prepared and signed the Report. <br /> The Report has been made subject to the following assumptions and limiting conditions: <br /> • No opinion is intended to be expressed and no responsibility is assumed for the legal <br /> description or for any matters that are legal in nature or require legal expertise or <br /> specialized knowledge beyond that of a real estate appraiser. Title to the Property is <br /> assumed to be good and marketable and the Property is assumed to be free and clear of <br /> all liens unless otherwise stated. No survey of the Property was undertaken. <br /> • The information contained in the Report or upon which the Report is based has been <br /> gathered from sources the Appraiser assumes to be reliable and accurate. The owner of <br /> the Property may have provided some of such information. The Appraiser shall not be <br /> responsible for the accuracy or completeness of such information, including the <br /> correctness of estimates, opinions, dimensions, sketches, exhibits and factual matters. <br /> Any authorized user of the Report is obligated to bring to the attention of the Appraiser <br /> any inaccuracies or errors that it believes are contained in the Report. <br /> • The opinions are only as of the date stated in the Report. Changes since that date in <br /> external and market factors or in the Property itself can significantly affect the <br /> conclusions in the Report. <br /> • The Report is to be used in whole and not in part. No part of the Report shall be used in <br /> conjunction with any other analyses. Publication of the Report or any portion thereof <br /> without the prior written consent of the Appraiser is prohibited. Reference to the <br /> Appraisal Institute or to the MAI designation is prohibited. Except as may be otherwise <br /> stated in the letter of engagement, the Report may not be used by any person(s) other <br /> than the party(ies) to whom it is addressed or for purposes other than that for which it <br /> was prepared. No part of the Report shall be conveyed to the public through advertising, <br /> or used in any sales, promotion, offering or SEC material without the Appraiser's prior <br /> written consent. Any authorized user(s)of this Report who provides a copy to, or permits <br /> reliance thereon by, any person or entity not authorized by the Appraiser in writing to use <br /> or rely thereon, hereby agrees to indemnify and hold the Appraiser harmless from and <br /> against all damages, expenses, claims and costs, including attorneys' fees, incurred in <br /> investigating and defending any claim arising from or in any way connected to the use of, <br /> or reliance upon, the Report by any such unauthorized person(s) or entity(ies). <br /> 111 <br />