This Appraisal is given subject to the terms and conditions hereinafter set forth, all of which are a part hereof unless expressly set aside in writing either on the pages of this or by a writing attached to the Appraisal signed by all parties concerned.

1. Unless otherwise stated herein, this Appraisal is based only on the readily apparent identity of the item(s) appraised, and no further opinion nor guarantee of authenticity, genuineness, attribution or authorship is made.

2. Unless otherwise stated herein, the appraised value(s) is based on the whole ownership and possessory interest undiminished by any liens, fractional interests or any other form of encumbrance or alienation.

3. This appraisal is made at the request of the parties named for his/her/its use. It is not an indication or certificate of title or ownership. The identification of the interest of the requesting party is simply that represented to the appraiser by such parties and no inquiry or investigation has been made nor is any opinion given as to the truth of such representation.

4. The value(s) expressed herein is based on the appraiser's best judgment and opinion and is not a representation or warranty that the item(s) will realize that value if offered for sale at auction or otherwise. The value(s) expressed is based on current information on the date made and no opinion is hereby expressed as to any future value nor, unless otherwise expressly stated, as to any past value.

5. Stated values are given item by item unless clearly stated as being per lot. The total of individual item values shall not be construed as an appraisal value for the whole lot but merely as the addition of single values. Where values are given by lot, the value per lot is for the whole and no opinion is given as to individual proportionate values within the lot.

6. Unless otherwise stated herein, value(s) expressed is based on the general expertise and qualifications of the appraiser as to the appropriate market and valuation for the item(s); and purpose involved. Where particular detailed valuation information is relied on, it will be so stated in writing.

7. Where the appraisal is based on a sample of a larger whole, it will be so stated and it is based on the assumption that the sample delivered is representative and fair. No opinion or warranty is hereby made as to the fairness or representative nature of any large whole from which the sample was drawn.

8. Where an appraisal is based not only on the item(s), but also on data or documentation supplied therewith, this Appraisal report shall so state by making reference thereto and, where appropriate, attaching copies hereto.

9. Unless expressly stated, the condition of the item(s) is good for its type, with serious deficiencies and repairs noted. Ordinary wear and tear common to this type of item is not noted.

10. No portion of this report may be reproduced, copied or used in any manner by anyone except the ‘owner/client’ without the previous written consent of the ‘owner/client’ or this appraiser; and then only in its entirety including all cover letters and material.

11. It is understood that the Appraiser has no past, present or contemplated future interest in the items herein described and employment to make this Appraisal and compensation for it are not contingent upon the values found.

12. Should, in conjunction with this appraisal, additional services of the Appraiser be requested by the Client, his Agent or Attorney, or the Courts (such as for added time researching for other value purposes, pretrial conferences, court appearances, court preparations, or any other related issues arising from this service,) compensation for same shall be at the customary hourly rate charged by the Appraiser at that time and shall be paid by the Client immediately upon receipt of a statement for said work or the contractor may require payment of a retainer fee in advance of such service, or appearances at his sole option.

Certified Member of the International Society of Appraisers Eric Finzi – Professional Fine Art Appraiser