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DEFINITION OF MARKET VALUE: The highest price which the property wiq bring contemplating
the consurzrr~atior~ of s sate and the passi;:=c of full -lute fmm seller to buyer by deed, under conditions
whereby; buyer and seller are free of undue stimulus and are motivated by no more than the reactions
of typical participants; both parties are well-informed or well-advised and act prudently, each of what
- he considers his~own best interest; a reasonable exposure is given in the open market; and payment is
made in cash or on terms reasonably equivalent to cash asswning typical &nancing terms available in the
community for aimtlar property.
CERTIFICATE OF APPRALSAL
The Appraiser does hereby certify as foDows: -
I have inspected the property. - - -
Ihave no present or contemplated fotur+e interest in the real estate that is the subject of this
appraisal report.: -
Ihave no personal interest or bias with respect to the subject matter of this appraisal report,
or the parties involved.
To the best of my lrnowledge and belief the statements of fact contained io this appraisal '
report, upon which the analyses, opitions and conclusions expressed herein are based, are
true and correct.
This appraisal report sets forth all of the -limiting conditions (imposed by the terms of the
assignment or by the appraiser) affecting the srwlyaes, opinions and condusions contained in _
- this report. ~ - .
This appraasal report has been made in conformity with and is subject to the requirements of
the Code of Professional Ethics and Standards of Professional Conduct of the American
L~titute of Real Estate Appraisers of the National Association of Realtors. F
ASSUMPTIONS AND LIMITING CONDITIONS:
The appraisal ,submitted herein is subject to the following sssumptions and Ting conditions:
The legal description furnished is assumed to be correct and the .title is a to be
marketable. Alt properties were appraised under fee simple ownership, onless ottu+rwi,e stated
and as though free and clear of encumbrances.
No responu'bility is assumed for matters legal in nature, nor is any opinion of title rendered
herein.
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No surveys were made of the properties. nor wen any furnished for inspection. Alt meas~re-
menu are approximations and no responsib~ity is assumed for their absolute accuracy.
No responsibility is assumed for hidden or unapparent conditions of the property, which
would render a greater or lesser valuation.
Possesion of this report. or any copy thereof, does not carry with it the right of publication or
the right of expert testimony unless previously srranged. - -
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