Common use of Annual Real Property Appraisal Clause in Contracts

Annual Real Property Appraisal. Prior to February 28 of each year, the Issuer will (a) cause the fair market value of the equity of the Issuer and its Subsidiaries in all interests in Real Property as of the December 31 next preceding such February 28 to be appraised by the Appraiser in conformity with and subject to the Code of Ethics and Standards of Professional Conduct of the Appraisal Institute, (b) calculate as of such December 31 the value of Gross Assets, (c) cause the Appraiser to review such calculation of Gross Assets and (d) cause to be filed with the Trustee a report from the Appraiser containing the Appraiser's opinion on the value of Gross Assets as of such December 31 and its opinion on the reasonableness of the Issuer's calculation of the value of Gross Assets as of such December 31 and stating that the appraisal referred to in clause (a) above was made in conformity with and subject to the Code of Ethics and Standards of Professional Conduct of the Appraisal Institute.