Common use of Ground Rent Adjustments by Appraisal Clause in Contracts

Ground Rent Adjustments by Appraisal. With ------------------------------------ respect to each Ground Rent adjustment date, the fair market land value and prevailing rate of return shall be determined by agreement between Landlord and Developer, but should they not be able to agree at least two hundred ten (210) days prior to an adjustment date, then such fair market land value and prevailing rate of return shall be determined by appraisal by an analysis of comparable land transactions committed to the same usage and either zoned for or improved with facilities of similar density and height considerations, and/or such other appraisal method(s) recognized by the appraisal profession as are appropriate for fair market land value appraisals and mutually agreed to by the appraisers at time of reevaluation as being appropriate, recognizing market conditions that prevail as of the date of value.

Ground Rent Adjustments by Appraisal. With ------------------------------------ respect to each ------------------------------------ Ground Rent adjustment date, the fair market land value and prevailing rate of return shall be determined by agreement between Landlord and Developer, but should they not be able to agree at least two hundred ten (210) days prior to an adjustment date, then such fair market land value and prevailing rate of return shall be determined by appraisal by an analysis of comparable land transactions committed to the same usage and either zoned for or improved with facilities of similar density and height considerations, and/or such other appraisal method(s) recognized by the appraisal profession as are appropriate for fair market land value appraisals and mutually agreed to by the appraisers at time of reevaluation as being appropriate, recognizing market conditions that prevail as of the date of value.

Ground Rent Adjustments by Appraisal. With ------------------------------------ respect to each ------------------------------------ Ground Rent adjustment date, the fair market land value and prevailing rate of return shall be determined by agreement between Landlord and Developer, but should they not be able to agree at least two hundred ten (210) days prior to an adjustment date, then such fair market land value and prevailing rate of return shall be determined by appraisal appraisal, according to Section 3.2.3, by an analysis of comparable land transactions committed to the same usage and either zoned for or improved with facilities of similar density and height considerations, and/or such other appraisal method(s) recognized by the appraisal profession as are appropriate for fair market land value appraisals and mutually agreed to by the appraisers at time of reevaluation as being appropriate, recognizing market conditions that prevail as of the date of value.

Ground Rent Adjustments by Appraisal. With ------------------------------------ respect to ------------------------------------ each Ground Rent adjustment date, the fair market land value and prevailing rate of return shall be determined by agreement between Landlord and Developer, but should they not be able to agree at least two hundred ten (210) days prior to an adjustment date, then such fair market land value and prevailing rate of return shall be determined by appraisal by an analysis of comparable land transactions committed to the same usage and either zoned for or improved with facilities of similar density and height considerations, and/or such other appraisal method(s) recognized by the appraisal profession as are appropriate for fair market land value appraisals and mutually agreed to by the appraisers at time of reevaluation as being appropriate, recognizing market conditions that prevail as of the date of value.