PLEASE READ THIS AGREEMENT CAREFULLY BEFORE USING THIS WEB SITE. BY ACCESSING THIS WEB SITE, YOU AGREE TO BE BOUND BY THE TERMS AND CONDITIONS BELOW. IF YOU DO NOT WISH TO BE BOUND BY THESE TERMS AND CONDITIONS, YOU SHOULD NOT ACCESS OR USE THIS WEB SITE.

DISCLAIMER

The Appraisal Institute presents this Web site as a service to our members and the public for informational purposes only. While the Appraisal Institute seeks to present accurate, reliable, complete, current, and useful information and products on this site, we do not guarantee or warrant the accuracy, reliability, completeness, or usefulness of the information at this site or at other sites to which we link. Therefore, any use of or reliance upon information or products from this site or a linked site is at the user's risk.

The information contained on this Web site does not constitute legal, accounting, or other professional advice. If you have specific questions related to your situation, you are encouraged to consult an appropriate professional who can review the particular circumstances of your situation.

Any reference to a product, service, publication or Web site does not imply endorsement of that product, service, publication or Web site.

WARRANTIES

THIS WEB SITE, INCLUDING BUT NOT LIMITED TO ITS CONTENT, CODE, ACCESS, AND OTHER FEATURES, AS WELL AS MATERIAL ACCESSIBLE THROUGH THIS WEB SITE, ARE PROVIDED "AS IS" AND WITHOUT WARRANTIES OF ANY KIND EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF ACCURACY, RELIABILITY, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. THE APPRAISAL INSTITUTE DOES NOT WARRANT THAT THE WEB SITE WILL OPERATE IN AN UNINTERRUPTED OR ERROR-FREE FASHION, THAT DEFECTS WILL BE CORRECTED, OR THAT THIS SITE OR THE SERVER ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS.

Under no circumstances shall the Appraisal Institute be liable for any direct, indirect, incidental, special, punitive or consequential damages, including without limitation, lost revenues, lost profits, or loss of prospective economic advantage, that result in any way from your use of or inability to use the Web site; your reliance on or use of information, services or merchandise provided on or through the Web site; or mistakes, omissions, interruptions, deletion of files, errors, defects, delays in operation, or transmission or any failure of performance, even if the Appraisal Institute has been advised of the possibility of such damages, or of any claim by another party.

CLICK THROUGH ACCESS

Some portions of the Appraisal Institute's Web site may provide you with access to other sites through our site as a convenience only, either by means of a direct link or through a software script (collectively, "Click-Through Access"). If the Appraisal Institute provides you access to content, whether at our site or by Click-through access, your rights to such content are limited to whatever rights are provided to you by the owner of the content, the owner or operator of the site accessed through Click-Through Access. You agree that you will not use any portion of our site in violation of any agreements or membership rules of such programs or other sites.

INDEMNIFICATION

AS A CONDITION OF USE OF THIS WEB SITE, YOU AGREE TO INDEMNIFY AND HOLD THE APPRAISAL INSTITUTE HARMLESS FROM ANY AND ALL LIABILITIES, COSTS AND EXPENSES, INCLUDING REASONABLE ATTORNEYS' FEES, RELATED TO ANY VIOLATION OF THESE TERMS AND CONDITIONS BY YOU.

SUBMISSIONS TO US

The Appraisal Institute always appreciates hearing from its members and users of its Web site, and we welcome any feedback. Nevertheless, to avoid any disputes we must ask you not to send us anything unless you agree that we will own what you send. Specifically, all suggestions, ideas, concepts, messages, e-mails, samples, and all other Content or submissions (collectively "Submissions") shall be deemed, and shall remain, the property of the Appraisal Institute and you hereby assign all rights in the Submissions to us. If for any reason any rights in any Submissions are not assigned, you hereby grant us a perpetual, irrevocable, fully paid up license to use the Submissions for any purpose whatsoever. You also hereby give your consent for us to use your name in connection with your Submissions, or for promotional purposes.

PRIVACY

The information that the user provides via this Web site, together with information regarding the manner in which the user uses this Web site, will not be processed or disclosed by Appraisal Institute except as permitted by these terms and conditions. By being a user of this Web site, the user agrees that the Appraisal Institute may share with other parties aggregate, individual, and locator information gathered by the Appraisal Institute in the course of the user's continuing individual use of this Web site. "Aggregate information" is information that describes the habits, usage patterns and/or demographics of users as a group but does not describe or reveal the identity of any particular user. "Individual information" is information about a user that is presented in a form distinguishable from information relating to other users but not in a form that personally identifies any user or enables the recipient to communicate directly with any user. "Locator information" consists of a user's name, e-mail address, physical address and/or other data about the user that enables the recipient to personally identify the user. Any user who does not wish to receive any special offers or communications from the Appraisal Institute directly or on behalf of suppliers, may so notify the Appraisal Institute at the address listed below. (Note that a user's election not to receive such information will not affect the user's receipt of offers and communications that were processed prior to the users' election.) Locator information and individual information will be processed and stored by the Appraisal Institute in the United States. Users may contact the Appraisal Institute to determine whether such information has been accurately recorded and, if not, to request correction of any inaccuracies in the information recorded by the Appraisal Institute.

MODIFICATION OF THESE TERMS AND CONDITIONS

The Appraisal Institute reserves the right to change this agreement at any time by revising the terms and conditions herein. Users are responsible for regularly reviewing these terms and conditions. Continued use of this Web site following any such changes shall constitute the user's acceptance of such changes.

GOVERNING LAW

This agreement shall be governed by and construed in accordance with the laws of the State of Illinois, U.S.A., without giving effect to any principles of conflicts of laws. User consents to the exclusive jurisdiction and venue of courts in the State of Illinois, U.S.A. in all disputes arising out of or relating to the use of this Web site.

Use of this Web site is unauthorized in any jurisdiction that does not give effect to all provisions of these terms and conditions, including without limitation this paragraph. Those who choose to access this site from other locations do so on their own initiative and are responsible for compliance with local laws, if and to the extent local laws are applicable.

FULL AGREEMENT/SEVERABILITY

This agreement constitutes the entire agreement between the Appraisal Institute and the user with respect to this Web site and it supersedes all prior or contemporaneous communications and proposals, whether electronic, oral or written, between the Appraisal Institute and the user with respect to this Web site.

If any provision of this agreement shall be unlawful, void, or for any reason unenforceable, then that provision shall be deemed severable from this agreement and shall not affect the validity and enforceability of any remaining provisions. This is the entire agreement between the parties relating to the subject matter herein and shall not be modified except in writing, signed by both parties.

ADMISSIBILITY

A printed version of this agreement and of any notice given in electronic form will be admissible in judicial or administrative proceedings based upon or relating to this agreement to the same extent and subject to the same conditions as other business documents and records originally generated and maintained by the Appraisal Institute.

COPYRIGHT

The Appraisal Institute owns (or licenses) all the wallpaper, characters, artwork, icons, graphics, music, text, and other content on its site ("Content"), and all HTML, CGI, and other code and scripts in any format used to implement this site ("Code"). You may not copy, modify, upload, download, transmit, (re)publish, or otherwise distribute any Code or Content from this site except as expressly permitted by these rules and the instructions for each section of this site. You may not modify or use the Content or Code you get from this site for any purpose other than those permitted, and doing so will violate our copyright and other proprietary rights.

If any portion of this site permits you to download Content, for those sections the above restrictions apply, except that you may download one copy of the Content on any single computer for your personal, non-commercial, research use only, and you must not remove or modify any of the copyright, trademark, and other proprietary notices. We retain all rights to any Content you download, and only grant you a limited license to use them as described above. Any unauthorized downloading and distribution of any copyrighted material from sites to which we link, without copyright owner's permission, is strictly prohibited.

The Appraisal Institute's designations, MAI, SRPA, SREA, SRA, RM, and their associated emblems, are registered service marks of the Appraisal Institute. The Appraisal Institute's logo is a registered service mark of the Appraisal Institute.

� 1999 Appraisal Institute. All rights reserved. No part of this publication may be reproduced, modified, re-written, or distributed, electronically or by any other means, without the express written permission of the Appraisal Institute.

CONTACT

Appraisal Institute

875 N. Michigan Avenue, Suite 2400

Chicago, Illinois 60611-1980

Telephone: (312) 335-4100

FAX: (312) 335-4400