General Information 5 include the value of excess profit, where asset values are derived consistently with the going-concern premise.” . (Source: The Dictionary of Real Estate Appraisal, Fifth Edition, Appraisal Institute, Chicago, Illinois, i 2010) Intended Use and User The intended use of the appraisal is for Commercial credit administration. The client and intended ; user is Banco Popular de Puerto Rico. The appraisal is not intended for any other use or user. No party ' or parties other than Banco Popular de Puerto Rico may use or rely on the information, opinions, and conclusions contained in this report. Applicable Requirements | This appraisal is intended to conform to the requirements of the following: i e Uniform Standards of Professional Appraisal Practice (USPAP); © Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal ; Institute; e The Principles of Appraisal Practice and Code of Ethics of the American Society of Appraisers e The RICS Valuation Professional Standards; e The International Valuation Standards of the [VSC; ; e Applicable jurisdictional regulations; e Appraisal requirements of Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), revised June 7, 1994; | e Interagency Appraisal and Evaluation Guidelines issued December 10, 2010; ¢ Appraisal guidelines of Banco Popular de Puerto Rico. Prior Services USPAP requires appraisers to disclose to the client any other services they have provided in ' connection with the subject property in the prior three years, including valuation, consulting, property / management, brokerage, or any other services. The RICS Red Book also contains requirements for : valuers to disclose previous involvement with the subject property within twelve months. We have : not performed any services, as an appraiser or in any other capacity, regarding the property that is the © : subject of this report within the three-year period immediately prec