Appraisal Evaluation Sample Clauses
The Appraisal Evaluation clause establishes a process for determining the value of an asset, property, or business interest, typically when parties disagree on its worth. This clause outlines the method for selecting an appraiser, the standards or criteria to be used in the valuation, and the procedure for resolving disputes if the parties cannot agree on the appraised value. By providing a clear mechanism for objective valuation, the clause helps prevent or resolve conflicts over price or value, ensuring fairness and efficiency in transactions or settlements.
Appraisal Evaluation. Upon receipt of an Appraisal, Administrative Agent will review the Appraisal in accordance with the appraisal policies and procedures of Administrative Agent and determine the Appraised Value. Administrative Agent will notify Borrower of such approval of the Appraised Value.
Appraisal Evaluation. Upon receipt of an Appraisal, the Lender will review the Appraisal and establish a Unit Appraised Value or a Eligible Lot Appraised Value, as applicable. The Lender will notify Borrower of such Unit Appraised Value or Eligible Lot Appraised Value and deliver to Borrower a copy of each Appraisal upon receipt.
Appraisal Evaluation. Upon receipt of an Appraisal, Majority Lenders will review the Appraisal in accordance with the appraisal policies and procedures of Majority Lenders and establish an Appraised Value. Majority Lenders will notify Borrower of such Appraised Value.
Appraisal Evaluation. Bank shall be provided with appraisals (the “Appraisals”) for each Project in form and substance acceptable to Bank, and in an amount acceptable to Bank, (the “Appraised Value”) prepared in accordance with the terms and provisions of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as amended, and the Regulations thereunder and the Uniform Standards of Professional Practices (the “Act and Practice”), and prepared by an appraiser, acceptable to Bank, licensed and certified to conduct appraisals in Pennsylvania under the Act and Practice. The Appraisals shall be provided to Bank at or prior to the first disbursement of the Site Development Sub-Loan. The Appraisals shall be on an “as completed” value, and the cost of the Appraisals shall be paid by Borrowers prior to any disbursements under the Site Development Sub-Loan.
Appraisal Evaluation a. Spread between appraisals: % If the value of the high appraisal is more than 20% greater than the low appraisal, please explain:
b. Average of appraisals: $ If the cost of the acquisition is not equal to the average of the two appraisals, please explain:
c. Is the appraisal value reasonable relative to the area? Yes No If not, please explain:
d. Are the appraisals more than 12 months old? Yes No If yes, please explain:
e. The appraisals were performed by licensed real estate appraisers with qualifications consistent with industry standards and all applicable Local, State and Federal statutes and regulations. Initial Here
Appraisal Evaluation. (1) Within sixty (60) days, the Board shall obtain a current appraisal or evaluation, as applicable, of the real estate securing each of the loans listed in the ▇▇▇ as lacking appropriate appraisal or evaluation.
(2) Within sixty (60) days, the Board shall revise the written policies and procedures governing the Bank’s valuation of real estate collateral to ensure the safety and soundness of the Bank’s real estate lending activities. The Bank’s policies and procedures shall be consistent with the Interagency Appraisal and Evaluation Guidelines, dated December 10, 2010, and at a minimum must include:
(a) a requirement that the Bank will obtain an appraisal or perform an appropriate evaluation, as applicable, for all real estate related financial transactions, consistent with the standards and requirements in 12 C.F.R. Part 164;
(b) standards for when the Bank will reevaluate or reappraise real estate collateral to support timely problem loan identification, work-out strategies, identification of impairment, and impact to the ALLL, with requirements distinguishing when an appraisal, as opposed to an evaluation, will be required under certain circumstances;
(c) an effective appraisal and evaluation review process, consistent with Section XV of the Interagency Appraisal and Evaluation Guidelines; and
(d) criteria for obtaining appraisals or performing evaluations for transactions that are not otherwise covered by regulatory requirements.
(3) Upon adoption, the Board shall submit a copy of the policies and procedures required by this Article, or any subsequent amendments or changes to those policies and procedures, to the Assistant Deputy Comptroller for determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Board shall promptly implement and thereafter ensure adherence to the policies and procedures.