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Certification 4 <br />Commercial Land Site - SWC of Middle Street and Market Place Drive <br />Certification <br />We certify that, to the best of our knowledge and belief: <br /> <br /> <br /> <br /> <br />1. The statements of fact contained in this report are true and correct. <br />2. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting <br />conditions and are our personal, impartial and unbiased professional analyses, opinions, and conclusions. <br />3. We have no present or prospective interest in the property that is the subject of this report and no personal <br />interest with respect to the parties involved. <br />4. We have no bias with respect to the property that is the subject of this report or to the parties involved with <br />this assignment. <br />5. Our engagement in this assignment was not contingent upon developing or reporting predetermined results. <br />6. Our compensation for completing this assignment is not contingent upon the development or reporting of a <br />predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, <br />the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended <br />use of this appraisal. <br />7. This appraisal assignment was not based upon a requested minimum valuation, a specific valuation, or the <br />approval of a loan. <br />8. Our analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with <br />the Uniform Standards of Professional Appraisal Practice, as well as the requirements of the State of <br />Minnesota. <br />9. The reported analyses, opinions, and conclusions were developed, and this report has been prepared, in <br />conformity with the Code of Professional Ethics and Standards of Professional Appraisal Practice of the <br />Appraisal Institute. <br />10. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly <br />authorized representatives. <br />11. As of the date of this report, Sean P. Butts, MAI has completed the continuing education program for <br />Designated Members of the Appraisal Institute. <br />12. Sean P. Butts, MAI made a personal inspection of the property that is the subject of this report. <br />13. Significant real property appraisal assistance was provided by Matthew Andersen who has not signed this <br />certification. The assistance of Matthew Andersen consisted of conducting research on the market, subject <br />property, and transactions involving comparable properties, performing certain appraisal analyses, and <br />assisting in report writing, all under the supervision of the person(s) signing this report. <br />14. The Firm operates as an independent economic entity. Although employees of other service lines or affiliates <br />of the Firm may be contacted as a part of our routine market research investigations, absolute client <br />confidentiality and privacy were maintained at all times with regard to this assignment without conflict of <br />interest. <br />15. Within this report, "Newmark Knight Frank", "NKF Valuation & Advisory", "NKF, Inc.", and similar forms of <br />reference refer only to the appraiser(s) who have signed this certification and any persons noted above as <br />having provided significant real property appraisal assistance to the persons signing this report.