1st Reading - Jersey City

, ,Portion of PJP Landfil1 Site, Jersey City New Jersey'10. Neither all nor any part of the contents of this report shall be conveyed to thepublic throughadvertìsing, public relations, news, sales or other media,without the written consent and approval of the author, particuhirly as tovaluation conclusions, the identÍty'of the appraiser, or fi~m with which he isconnected, or any reference to the Appraisal Institute, or to thelMAIdesignation, 'Practice ofthe Appmisal Institute of which the appraiser is,a member and represents the.. best judgment of the appraiser.11.' This 'appraisal has been made in conformance with the Standards of12. The physical condition of any impròvements described herein was based on'visual inspection; No liabilty is assumed for thesoundness of structúralmembers since no engineering tests were made by the appraiser.13, This appraisal does not consider conditions relating, to surface or subsurfacewaters in~luding water table, flood plain, rights of the State in riparian landsand drainage and any rights of governmental body tocontrol or restrict the useof the property by reason thereof, 'and the valuation as found is exclusive of the ''foregoing factors.14. Unless otherwise stated in this report, the existence of any hazardous material,which mayor may not be present on the subject property, was not observed bythe 'appraiser. The appraiser has noknowledge ofthe existence of any such.materials on, in or about the property. Theappraiser, ho~ever, is not qualiiedto detect such subStances. The presence of substances such' as asbestos,urea-formaldehyde, foam insulation (UFFI), or other potentially hazardous"materials may affect the val~e ofthe property. The value estimate derivedherein is predicated on theassuiIption that there is no such material on, in orabo~t the property that would cause a loss in value. No, responsibiljty isassumed for any such conditions, or for any expertise of engineering, knowledge required to discover them. The client is urged to retain an expert inthis field, if desired~ ,15, 'The Americans with Disabilities Act ("ADA") was passed into law on January26, 1992, We have not made a specific compliance survey and analysis of thispropert to determine whether or not it is in conformity with the requirements,of the ADA. It is possible that a compliance survey of the property, together ,with a detailed analysis of the requirements of the ADA, could reveal that the'property is not in compliance with one or more of the requirements of the Act.If the, property is in violation, it could have a, negative effect upon the value ofthe property. Because we have no direct evidence relating to this issue, we didnot consider possible non-compliance with the requirements of ADA inestimating the value of theproperty. 'VALUE RESEARCH GROUP, LLC