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If the ultimate development of the commercial and retail tenancies varies <br />significantly from those indicated in the DDA, or as discussed in this analysis, <br />then the reuse value is subject to revaluation. <br />6. Soils or subsoils conditions, other than those conditions already known to the <br />Developer, will not materially impact the cost to construct the Project. <br />It is assumed that the title of the site is good and marketable. No title search has been made by <br />K IA, nor have we attempted to determine the ownership of the site. The value estimates are given <br />without regard to any questions of title, boundaries, encumbrances or encroachments. It is assumed <br />that all assessments, if any, are paid. <br />No legal description of the property was furnished. In lieu of the legal description, our understanding <br />of the property is based on the site plan and the relevant assessor parcel information provided to us by <br />the Redevelopment Agency. <br />We assume that the subject site will be in conformance with the applicable zoning and building <br />ordinances over the economic life of the property. <br />Information provided by such informed local sources as the Redevelopment Agency, governmental <br />agencies, financial institutions, realtors, buyers, sellers, and others was weighed in the light in which it <br />was supplied and checked by secondary means; however, no responsibility is assumed for possible <br />misinformation. <br />The appraiser is not required to give testimony or appear in court because of having made this <br />appraisal, with reference to the property in question, unless arrangements have been previously made <br />therefor. <br />No one other than the undersigned prepared the analysis, conclusions and opinions concerning real <br />estate that are set forth in the appraisal report. <br />KEYSER MARSTON ASSOCIATES I N C. <br />19100/0001-002.doc Page 20 <br />