Appraisal Method Sample Clauses

Appraisal Method. When an appraisal is required under this Lease, the Fair Market Rent of the Leased Property shall be determined by (1) an independent appraiser, who is a member of the Appraisal Institute, and will be selected by Landlord (the "LANDLORD MAI APPRAISER"), and (2) a second appraiser, who is a member of the Appraisal Institute, and will be selected by Tenant (the "TENANT MAI APPRAISER") (each an "APPRAISER" and, collectively, the "APPRAISERS"). Landlord and Tenant shall, as promptly as possible, but in no event later than thirty (30) days following the date Tenant exercises its option to extend, select its respective Appraiser. The costs of the Appraisers' appraisals shall be shared equally by the parties. As promptly as possible but in no event later than fifteen (15) days after selection of the Appraisers, each Appraiser shall deliver his or her written report of the Appraisers' determination of the Fair Market Rent of the Leased Property, which determination shall be based upon the appropriate use of the Leased Property and taking into consideration the location of the Leased Property and rentals for other properties comparable thereto. The Fair Market Rent of the Leased Property shall be equal to the average of the two (2) Fair Market Rent determinations of the Appraisers. In the event Landlord and Tenant do not concur with the Appraisers' determination of Fair Market Rent, within five (5) days after such determination, the two Appraisers shall appoint a third MAI appraiser (the "THIRD MAI APPRAISER"). The Third MAI Appraiser shall determine the Fair Market Rent, which Fair Market Rent shall fall between the two appraisals by the Landlord MAI Appraiser and the Tenant MAI Appraiser. Notwithstanding the foregoing, in no event shall the Fair Market Rent be less than the Base Annual Report for the Lease Year immediately preceding the year for which the Fair Market Rent is being determined.

Appraisal Method. If the seller chooses to have the loss amount estab- lished by appraisal rather than liquida- tion, the Agency will complete an ap- praisal on the real estate, and the loss claim amount will be based on the dif- ▇▇▇▇▇▇▇ between the appraised value at the time the loss is calculated and the unpaid principal balance of the land contract at that time. (A) The only administrative appeal allowed under § 761.6 of this chapter re- lated to the resulting appraisal amount will be a determination of whether the appraisal is Uniform Standards of Pro- fessional Appraisal Practice (USPAP) compliant. (B) The seller will give the Agency a lien on the security property in the amount of the loss claim payment. If the property sells within 5 years from the date of the loss payment for an amount greater than the appraised value used to establish the loss claim amount, the seller must repay the dif- ▇▇▇▇▇▇▇, up to the amount of the loss claim. For purposes of determining the amount to be repaid (recapture), the market value of the property may be reduced by the value of certain capital improvements, as specified in § 766.202(a)(1)–(3) of this chapter, made by the seller to the property in the time period from the loss claim to final disposition. If the property is not sold within 5 years from the date of the loss payment, the Agency will release the lien and the seller will have no further obligation to the Agency. (a) Any amount paid by FSA as a re- ▇▇▇▇ of an approved loss claim is imme- diately due and payable by the buyer after FSA notifies the buyer that a loss claim has been paid to the seller. If the debt is not restructured into a repay- ment plan or the obligation otherwise cured, FSA may use all remedies avail- able, including offset as authorized by the Debt Collection Improvement Act of 1996, to collect the debt. (1) Interest on the debt will be at the FLP non-program real property loan rate in effect at the time of the first Agency payment of a loss claim. (2) The debt may be scheduled for re- payment consistent with the buyer’s repayment ability, not to exceed 7 years. Before any payment plan can be approved, the buyer must provide the Agency with the best lien obtainable on all of the buyer’s assets. This in- cludes the buyer’s ownership interest in the real estate under contract for guarantees using the prompt payment guarantee plan. When the buyer is an entity, the best lien obtainable will be taken on all of the entity’s assets, and all assets owned by indiv...

Appraisal Method. An independent business appraiser determines the value. This method may be expensive and time consuming. Federal estate tax values will not be established. However, in family owned businesses this may be the only viable approach. Questions become who will be the appraiser, special instructions, i.e. book value, fair market value, etc.

Appraisal Method. The selling owner and the company mutually select an appraiser to value the company. If they cannot agree, each party selects an appraiser (and pays the cost thereof). In that case, the value of the company is the average of the two appraisals unless the difference between the two appraisals is more than an agreed percentage, generally around 15%. If the difference is too great, the two appraisers select a third appraiser (the cost is split) and the value determined by the third appraiser is the tie-breaking value.

Appraisal Method. 58 ----------------

Appraisal Method. If the seller chooses to have the loss amount estab- lished by appraisal rather than liquida- tion, the Agency will complete an ap- praisal on the real estate, and the loss claim amount will be based on the dif- ▇▇▇▇▇▇▇ between the appraised value at the time the loss is calculated and the unpaid principal balance of the land contract at that time. (A) The only administrative appeal allowed under § 761.6 of this chapter re- lated to the resulting appraisal amount will be a determination of whether the appraisal is Uniform Standards of Pro- fessional Appraisal Practice (USPAP) compliant. (B) The seller will give the Agency a lien on the security property in the amount of the loss claim payment. If the property sells within 5 years from the date of the loss payment for an amount greater than the appraised value used to establish the loss claim amount, the seller must repay the dif- ▇▇▇▇▇▇▇, up to the amount of the loss claim. For purposes of determining the amount to be repaid (recapture), the market value of the property may be reduced by the value of certain capital

Appraisal Method. If no agreed-upon valuation exists, a qualified independent appraiser selected by mutual agreement shall determine Fair Market Value. Binding Appraisal: The appraiser’s determination shall be final and binding on all parties.