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It is assumed that the title of the Site is good and marketable. No title search has been made by <br /> KiMA, nor have we attempted to determine the ownership of the Site. The value estimates are <br /> given without regard to any questions of title, boundaries, encumbrances or encroachments. It is <br /> assumed that all assessments, if any, are paid. <br /> No legal description of the Site was famished. In lieu of the legal description, our understanding <br /> of the Project is based on the site plan provided to us by the Redevelopment Agency. <br /> We assume that the Project will be in conformance with the applicable land use designation and <br /> building ordinances over the economic life of the property. <br /> Information provided by such informed local sources as the Redevelopment Agency, <br /> governmental agencies, financial institutions, realtors, buyers sellers, and others was weighed in <br /> the light in which it was supplied and checked by secondary means; however, no responsibility is <br /> assumed for possible misinformation. <br /> K1vIA is not required to give testimony or appear in court because of having made this valuation, <br /> with reference to the Site in question, unless arrangements have been previously made therefor. <br /> No one other than the undersigned prepared the analysis, conclusions and opinions concerning <br /> real estate that are set forth in the valuation report. <br /> • <br /> 296 <br /> Keyser Marston Associates. Inc. <br /> 19096.0261002- 001.doc Page 18 <br />