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Assumptions & Limiting Conditions 52 <br />Commercial Land Site - SWC of Middle Street and Market Place Drive <br />Assumptions and Limiting Conditions <br />The Appraisal contained in this Report (herein “Report”) is subject to the following assumptions <br />and limiting conditions: <br />1. Unless otherwise stated in this report, title to the property which is the subject of this report (herein <br />“Property”) is assumed to be good and marketable and free and clear of all liens and encumbrances <br />and that there are no recorded or unrecorded matters or exceptions to title that would adversely <br />affect marketability or value. No responsibility is assumed for the legal description, zoning, <br />condition of title or any matters which are legal in nature or otherwise require expertise other than <br />that of a professional real estate appraiser. This report shall not constitute a survey of the Property. <br />2. Unless otherwise stated in this report, this report did not take into consideration the existence of <br />asbestos, PCB transformers or other toxic, hazardous, or contaminated substances or <br />underground storage tanks, or the cost of encapsulation, removal or remediation thereof. Real <br />estate appraisers are not qualified to detect such substances. The presence of substances such <br />as asbestos, urea formaldehyde foam insulation, contaminated groundwater or other potentially <br />hazardous materials and substances may adversely affect the value of the Property. Unless <br />otherwise stated in this report, the opinion of value is predicated on the assumption that there is <br />no such material or substances at, on or in the Property. <br />3. All statements of fact contained in this report as a basis of the analyses, opinions, and conclusions <br />herein are true and correct to the best of the appraiser's actual knowledge and belief. The appraiser <br />is entitled to and relies upon the accuracy of information and material furnished by the owner of <br />the Property or owner’s representatives and on information and data provided by sources upon <br />which members of the appraisal profession typically rely and that are deemed to be reliable by such <br />members. Such information and data obtained from third party sources are assumed to be reliable <br />and have not been independently verified. No warranty is made as to the accuracy of any of such <br />information and data. Any material error in any of the said information or data could have a <br />substantial impact on the conclusions of this Report. The appraiser reserves the right to amend <br />conclusions reported if made aware of any such error. <br />4. The opinion of value stated in this report is only as of the date of value stated in this report. An <br />appraisal is inherently subjective and the conclusions stated apply only as of said date of value, <br />and no representation is made as to the effect of subsequent events. This report speaks only as <br />of the date hereof. <br />5. The analyses contained in this report may necessarily incorporate numerous estimates and <br />assumptions regarding Property performance, general and local business and economic <br />conditions, the absence of material changes in the competitive environment and other matters. <br />Some estimates or assumptions, however, inevitably will not materialize, and unanticipated events <br />and circumstances may occur; therefore, actual results achieved during the period covered by the <br />analysis will vary from estimates, and the variations may be material. <br />6. All prospective value opinions presented in this report are estimates and forecasts which are <br />prospective in nature and are subject to considerable risk and uncertainty. In addition to the