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Appraisal: APN 053-182-030, S.E. Corner of Maple & Lathrop Streets, Redwood City, Calif.Page 4 <br />2025CNA112 <br />J. Limiting Conditions, Extraordinary and General Assumptions <br />Extraordinary Assumptions <br />1. A preliminary title report covering the subject parcel was not available. <br />The only known easement affecting the subject property is a storm drain <br />easement supporting Redwood Creek, which is in favor of the City of <br />Redwood City and affects the southern portion of the subject. Valuation of <br />the subject property is based on the extraordinary assumption that title to <br />the property is marketable and free and clear of any liens, easements, <br />encumbrances, encroachments, and special assessments, other than those <br />identified in this report. <br />2. The developer of the Elco Yards project appears to have a temporary <br />construction easement over, or license to use, the subject property for <br />vehicle and equipment storage. At the time of our previous appraisal, <br />for the City of Redwood City, and <br />Patti Schrotenboer, Senior Civil Engineer, both opined that there is no <br />agreement in place. It was an extraordinary assumption of this appraisal <br />that there is no temporary construction easement or license allowing for <br />use of the subject. <br />3. The storm drain easement near the southern subject boundary reduces the <br />developable or usable area of the subject parcel. This easement is <br />improved with a concrete-lined channel containing Redwood Creek, and <br />the parcel is reduced. Based on the plat map drawn by <br />Acting City Engineer for the City of Redwood City, and displayed in the <br />Addenda as Exhibit B, the net developable or usable area of the subject is <br />4,469 square feet. It was an extraordinary assumption of this appraisal the <br />developable area of the subject was 4,469 square feet. <br />The use of these extraordinary assumptions might have affected the assignment <br />results. <br />General Assumptions and Limiting Conditions <br />1. It is the responsibility to read this report and to inform the <br />appraiser of any errors or omissions of which he/she is aware prior to <br />utilizing this report or making it available to any third party. <br />8.K. - Page 50 of 105 <br />300