EXHIBIT C
LIMITATIONS OF THE STUDY
PINNACLE ADVISORY GROUP’S FINDINGS ARE SUBJECT TO THE FOLLOWING LIMITATIONS:
® It is expressly understood and agreed that Pinnacle’s study and reports do not include any
opinions or analysis regarding environmental, zoning, land use, licensing and/or other legal
and regulatory requirements for the project. Rather, such legal and regulatory issues are
beyond the scope of Pinnacle’s work and should be dealt with by the Client separately
through appropriate experts.
* Pinnacle offers no opinions that are legal in nature and expressly disclaims any responsibility
for same. The Client, and not Pinnacle, is responsible to ensure that the Project has all
necessary legal requirements to operate its business in accordance with the assumptions
made by Pinnacle in its reports.
* Pinnacle shall not be required to give testimony or appear in court or at a deposition by
reason of this assignment, with reference to the property in question unless arrangements
have been made previously therefore.
® Pinnacle shall not have responsibility to update its findings or analysis regarding the Project
to take into account changes in market or other conditions that occur subsequent to the
completion of its fieldwork. Rather, Pinnacle’s work shall be deemed completed as of the
date of its last report.
® Client shall indemnify, defend and hold harmless Pinnacle from and against all claims,
liabilities, damages, costs and expenses of any nature suffered or incurred by Pinnacle
(including, without limitation, reasonable attorneys’ fees) arising out of or in connection with
Pinnacle’s work under this Agreement. This provision shall survive termination or expiration
of this Agreement.
* Pinnacle shall use its expertise and best efforts in order to analyze the viability of the
proposed Project. However, it is understood and agreed that there are many factors that
may impact the success or failure of a business including those that are beyond the control of
any party such as general economic conditions, force majeure, acts of war or terrorism,
weather events, work stoppages, etc. As such, it is understood and agreed that nothing
contained in any work prepared by Pinnacle should be construed or considered as a
guarantee of actual performance of the Project and Pinnacle expressly disclaims any liability
therefore.
