Appraisal for Physical Damage Loss. If you and we disagree on the amount of loss, either may demand an appraisal of the loss. In this event, each party will select an experienced appraiser. The two appraisers will select an impartial umpire (who shall also be an experienced appraiser). The appraisers will state separately the actual cash value and amount of loss. If they fail to agree, they will submit their differences to the umpire. A decision agreed to by any two will be binding. Each party shall pay its chosen appraiser and shall bear the expenses of the appraisal and impartial umpire equally.
Appears in 6 contracts
Samples: Housing Authorities Risk Retention, Housing Authorities Risk Retention, Housing Authorities Risk Retention
