1st Reading - Jersey City

Portion of PJP Laqfil1 Site, Jersey City New Jersey-Assumptions andLimiting ConditionsUnless otherwise stated, this report and appraisal are subjeçt to the follO\ýingconditions and stipulations:1. ' The appraiser has not examined into and does not pass upon the title to the, property, nor is it to be construed or implied that this\ report in any mannérpasses upon, counsels or advises in matters legal in character. '2. The description of the premises as reported her~in is, in' accordance withinformation furnished by the propertyowner, local gover,ning agencies, orother sources considered by the appraiser to bereliable, This information isaccepted as correctly designating the property boundary lines, but noi~vestigations or surveys 'have been made of same.3. , The property is appraised as a whole in fee simple, free of liens, mortgages,restrictions of use or other encumbrances, leases, easements or othercontracts running iniavor oragainst the propetty.4. Insofar as computations are based upon 'operating expensea,- income and/or,existing contract, zoning, regulations or other use rèstrictions, boundarylines, engineering surveys and conditions not evideiit upon surface inspectionof the property, information pertaining thereto has'been obtai~ed fromsources èonsidered reliable and accepted andreported herein as correct andauthentic but not guaranteed. _5. The value herein applies only to the premises described. kis not to beemployed in making summation appraisals of said land and building orbuildings which may be placed thereon;' nor, is sald value,' any analysisthereof, or any unit values thereby deri~ed, tobe construed as applicable toany other,property however similar. '6. Possession of this report or any copy thereof does not carty with it thedghtof publication nor may it be used for any purpose other than as indicated inthe appraisaL.7. "The appraiser is not to be required by reasort of this appraisal to givetesdÌnony or attendance in Court in reference to the property appraised~,8. Employment in, and compensationÆor, making this appraisal are in nomanner contingent on the matter involved.9. The appraiser has no present or contemplated future interest in the propertyappraised.VALUE RESEÁRCH GROUP, LLC