Appraisal Price. In the event that a) CLT receives the Intent to Sell Notice, or b) a Transfer Event occurs, CLT or Lessor, at theirits own cost and at theirits sole discretion, may utilize a process set forth in its guidelines adopted by CLT and amended from time to time to determine the current appraised value of the Residential Unit or may commission an appraisal by a duly licensed appraiser knowledgeable of housing and land prices in Teton County, Wyoming. The appraisal shall be conducted by analysis and comparison of comparable properties, and shall be completed within thirty (30) days or as soon thereafter as is commercially reasonable. CLT shall deliver the appraisal to the Lessee. The Lessee may then commission a second appraisal, at its own cost, in like fashion, also using a duly licensed appraiser knowledgeable of housing and land prices in Teton County, Wyoming. The Appraisal Price is the value assigned by CLT’s appraisal, or, if a second appraisal is commissioned by the Lessee, the average of the two (2) appraisals. NOTWITHSTANDING THE DETERMINATION OF THE MAXIMUM RESALE PRICE, THERE IS NO REQUIREMENT AND NEITHER LESSOR NOR CLT ASSURE THAT, DUE TO MARKET CONDITIONS OR THE CONDITION OF THE RESIDENTIAL UNIT, THE PRICE ACTUALLY PAID WILL BE THE FULL AMOUNT OF THE MAXIMUM RESALE PRICE DETERMINED BY CLT, OR ANY AMOUNT SUFFICIENT TO REPAY ANY LOAN SECURED BY A MORTGAGE ON THE PROPERTY, AND IT MAY, IN FACT BE LESS. NOTHING HEREIN SHALL BE CONSTRUED TO CONSTITUTE A REPRESENTATION OR GUARANTY BY LESSOR OR CLT THAT UPON THE RESALE OF THE RESIDENTIAL UNIT, THE HOMEOWNER SHALL OBTAIN THE ENTIRE MAXIMUM RESALE PRICE.
Appraisal Price. (1) After the effectiveness of this agreement, Target Companies will take all the assets within the Purchase Target to assets evaluation agency of all necessary certifications for Appraisal Price, and reach the final paper report. Or, Target Companies will get the Fairness Opinion through proper agency of all necessary certifications, and reach the final paper report.
