Common use of Comparable Neighborhood Clause in Contracts

Comparable Neighborhood. The “Comparable Neighborhood” shall mean the area identified on Attachment A to this Schedule 1.3; provided, however, that if in the professional opinion of the appraiser there are too few comparable sales in the Comparable Neighborhood, the Qualified Appraiser may use other comparable transactions in other proximate neighborhoods, if necessary, so long as the Qualified Appraiser provides a written explanation justifying the reasons for doing so, and continues to use comparables in the Comparable Neighborhood as the primary basis for determining the Fee Simple Land Value of the Parcel. Sales of leasehold estates located within the Stanford Hills Subdivision and Stanford Creek Subdivision shall be excluded as comparable sales, as these transactions are leaseholds with prices impacted by the terms and conditions of the Lease.