Selection of a Third Appraiser. If the two appraisers fail to deliver an Appraiser’s Agreement As to Value within thirty days following the later of the dates upon which NAI or BNPPLC delivers its Notice of Appointment, then either party (NAI or BNPPLC) may deliver another notice to the other (a “Third Appraisal Notice”), demanding that the two appraisers appoint a third independent property appraiser to help with the determination of Fair Market Value. Immediately after the Third Appraisal Notice is delivered, each of the first two appraisers must act promptly, reasonably and in good faith to try to reach agreement upon the third appraiser. If, however, the two appraisers fail to reach agreement upon a third appraiser within ten days after the Third Appraisal Notice is delivered:
Selection of a Third Appraiser. If the two appraisers fail to deliver an Appraiser’s Agreement As to Value within thirty days following the later of the dates upon which NAI or BNPPLC delivers its Notice of Appointment, then either party (NAI or BNPPLC) may deliver another notice to the other (a “Third Appraisal Notice”), demanding that the two appraisers appoint a third independent property appraiser to help with the determination of Fair Market Value. Immediately after the Third Appraisal Notice is delivered, each of the first two appraisers
Selection of a Third Appraiser. If the difference between the two appraisals is 10% or less of the higher appraisal, then the FMV shall be deemed to be the average of the two appraisals. If the difference between the two appraisals exceeds 10% of the higher appraisal, then Lessor and Xxxxxx shall jointly appoint a third qualified and independent appraiser within ten (10) days following the submission of the two appraisals. If Xxxxxx and Xxxxxx cannot agree on the third appraiser, then either party may request that the President of the local chapter of the American Society of Appraisers (or a successor organization) appoint the third appraiser.
