Definition of Market Value. The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with the sale. (Source: FDIC Interagency Appraisal and Evaluation Guidelines, October 27, 1994.) * Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF LIMITING CONDITIONS AND CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the following conditions:
Definition of Market Value. 3 Definition Of Fee Simple Ownership. . . . . . . . . . . . 4
Definition of Market Value. “Market Value” shall mean fair market value as determined in accordance with section 2 of this Schedule A or, failing agreement under section 2, in accordance with the remaining provisions of this Schedule A.
Definition of Market Value. Market Value" for the purposes of this Paragraph 6 shall mean the average of the closing prices of the Common Stock for sales on all national securities exchanges on which the Common Stock may at the time be listed, or, if there shall have been no sales on any such exchange on any such day, the average of the bid and asked prices at the end of such day, or, if the Common Stock shall not be so listed, the average of the high and low bid and asked prices on such day in the over-the-counter market as reported by the National Quotation Bureau, Incorporated, or any similar successor organization, in each such case averaged over a period of 10 consecutive business days prior to the day as of which "Market Price" is being determined; provided that if the Common Stock is listed on any domestic exchange the term "business days" as used in this sentence shall mean business days on which such exchange is open for trading. If at any time the Common Stock is not listed on any national securities exchange or quoted in the over-the-counter market, the "Market Price" shall be deemed to be the higher of (i) the book value thereof, as determined by any firm of independent public accountants of recognized standing selected by the Board of Directors of the Corporation, as at the last day of any month ending within 60 days preceding the date as of which the determination is to be made, or (ii) the fair value thereof determined in good faith by the Board of Directors of the Corporation as of a date which is within 15 days of the date as of which the determination is to be made.
Definition of Market Value. Market Value is defined as: The most probable price, as of a specified date, in cash, or in terms equivalent to cash, or in other precisely revealed terms, for which the specified property rights should sell after reasonable exposure in a competitive market under all conditions requisite to a fair sale, with the buyer and seller each acting prudently, knowledgeably, and for self-interest, and assuming that neither is under undue duress. 1 Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:
Definition of Market Value. Market value means the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: 1. Buyer and seller are typically motivated; 2. Both parties are well informed or well advised and acting in what they consider their own best interests; 3. A reasonable time is allowed for exposure in the open market; 4. Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and 5. The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. * This definition is from regulations published by federal regulatory agencies pursuant to Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989 between July 5, 1990, and August 24, 1990, by the Federal Reserve System (FRS), National Credit Union Administration (NCUA), Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), and the Office of Comptroller of the Currency (OCC). This definition is also referenced in regulations jointly published by the OCC, OTS, FRS, and FDIC on June 7, 1994, and in the Interagency Appraisal and Evaluation Guidelines, dated October 27, 1994. SIGNATURES Client Contact: Xxxxxx Xxxxxxx Client Name: Valparaiso Redevelopment Commission E-Mail: Xxxxxxxx@xxxxx.xx Address: 000 Xxxxxxx Xxx, Xxxxxxxxxx, XX 00000 APPRAISER SUPERVISORY APPRAISER (if required) or CO-APPRAISER (if applicable) Appraiser Name: Xxxxxx X Xxxxxx Company: Xxxxxx & Associates, Inc. Phone: (000) 000-0000 Fax: E-Mail: xxx@xxxxxxxxxxxxxxxx.xxx Date Report Signed: 12/10/2018 Supervisory or Co-Appraiser Name: Company: Phone: Fax: E-Mail: Date Report Signed: License or Certification #: CR60700787 State: IN License or Certification #: State: Designation: Designation: Expiration Date of License or Certification: 06/30/2020 Expiration Date of License or Certification: Inspection of Subject: Interior & Exterior Exterior Only None Inspection of Subject: Interior & Exterior Exterior Only None Date of Inspection: 12/02/2018 Date of Inspection: Borrower Valparaiso Redevelopment Commissio...
Definition of Market Value. 114 DEFINITION OF HIGHEST AND BEST USE....................................... 114 LIMITING CONDITIONS AND ASSUMPTIONS...................................... 115
Definition of Market Value. The definition of “Market Value” in Paragraph 2(j) is amended by adding thereto after “a generally recognized source agreed to by the parties” the following: “and, in the absence of such agreement, determined by Party A acting in good faith and in a commercially reasonable manner selected by it, provided, however, that Party A shall have no obligation to use third party pricing”.
Definition of Market Value. For purposes of section 2.2(b), the term "Market Value" shall mean the average "last reported sale" price of a share of Purchaser's common stock, as reported on the NASDAQ national over-the- counter market, for the five (5) trading days immediately preceding the Closing Date. For purposes of section 2.3, the term "Market Value" shall mean the average "last reported sale" price of a share of Purchaser's common stock, as reported on the NASDAQ national over-the-counter market, for the five (5) trading days immediately preceding the date that an issuance condition set forth in section 2.3 has been satisfied.
Definition of Market Value. 8 EXPOSURE TIME .......................................................................................................................................................................... 9 MARKETING TIME 9 CURRENT OWNERSHIP/OWNERSHIP HISTORY ..................................................................................................................... 9
