As Completed Appraised Value definition
As Completed Appraised Value means the value given by a state-certified appraiser to the real property and improvements on the real property based on the Total Hard Costs and plans and specifications for the improvements on the real property prior to the beginning of any construction or rehabilitation.
As Completed Appraised Value means the “as completed” value, as determined by Lender based upon its review of the Appraisal of the Property accepted pursuant to Exhibit C.
As Completed Appraised Value means, with respect to a Construction/Perm Mortgage Loan, the value given by a state certified appraiser prior to the beginning of any construction to the real property and improvements thereto to be financed by such Construction/Perm Mortgage Loan (i) as of the completion of construction and (ii) based on the Total Costs and plans and specifications for such real property and improvements.
Examples of As Completed Appraised Value in a sentence
As of the Closing Date, direct and indirect owners in Borrower and Subsidiary Guarantor, in the aggregate, have invested no less than an amount equal to fifteen percent (15%) of the As-Completed Appraised Value of each Individual Property (the “Minimum Equity Requirement”).
More Definitions of As Completed Appraised Value
As Completed Appraised Value means the “as completed” value of any Individual Property, as determined by Administrative Agent based on its review of an Appraisal.
As Completed Appraised Value means, for any Construction Property at ---------------------------- any time, the estimated market value of such Property upon completion of all of the improvements to be constructed by the Borrower pursuant to the sale agreement or lease relating to such Construction Property, as established by an Appraisal conducted prior to the recording of the Deed of Trust encumbering such Construction Property to secure the Obligations. The As-Completed Appraised Values for the Construction Properties as of the Closing Date are set forth on Schedule 1.1. However, nothing contained in this Agreement is intended to be, ------------ nor should it be construed as, an admission by the Borrower as to the fair cash market value of any Property, or any portion thereof.