Original Appraisal definition

Original Appraisal means the appraisal, other report or description of the Property, obtained by the lender under the Loan at the time it was originated, which establishes the value of the Property at that time.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Original Appraisal means the Appraisal prepared by CBRE Valuation and Advisory Services, dated October 11, 2007.

Original Appraisal. A Date of the original Appraisal Date Date Original Appraisal A Name of the Appraisal firm Text Firm Original Purchase A Price paid for home. Number Price Purchase BPO A BPO at the time of Purchase by GS. Number Purchase BPO Date A Date of the Purchase BPO Date Lien Position A Number used to identify the lien position Number in effect at the time of application. Example: 1, 2, 3 PMI Provider A Name or code for company providing private mortgage insurance. PMI Coverage A Percentage of insurance provided by PMI Percentage agreement. PMI Certificate ID A Unique ID to identify PMI insurance certificate. Occupancy Type A Occupancy status at time of application. Text See Enumerations worksheet. Purpose of Loan A Code/literal used to identify the Text original purpose of the loan. See Enumerations worksheet. Prepayment Flag A Code/Flag to determine if loan was Text originated with a prepayment penalty. Prepayment Penalty T Code/literal to identify characteristics Text Type of penalty. Example: 6 MO INT ON 80% OBAL, 5/4/3/2/1, 3%. Prepayment Term A Original number of mo▇▇▇▇ that penalty Number was imposed.

Examples of Original Appraisal in a sentence

• All statements made by the Insured, the Servicer, the Borrower or any other Person in any part of the Application, including the Original Appraisal, plans and specifications, or any exhibits or documents submitted therewith, are deemed to be the Insured's representations.

• The Property has been restored to its condition as reported in the Original Appraisal (as fully completed), reasonable wear and tear excepted.

• Lender shall have determined that the ratio of (x) the total amount due under the Note on the Conversion Date to (y) the appraised “as proposed” value of the Property set forth in the Original Appraisal (as defined in Section 2.1 below), as adjusted by Lender in its sole discretion, does not exceed 65% (the “Conversion LTV”).

• For the purposes of this Loan Agreement, the “Value of the Property” shall mean $70,000,000.00 as established pursuant to an appraisal dated as of January 8, 2010, prepared by Cus▇▇▇▇ & Wak▇▇▇▇▇▇ (“Original Appraisal”) which has been accepted by Lender, as such Value of the Property may hereafter be changed either by an update to the Original Appraisal or by a new appraisal in each case as ordered by and acceptable to Lender pursuant to the terms of this Agreement.

• Compensation and Expenses of Trustee, Bond Registrar, Paying Agents and Agency..........

• Borrower shall pay for the costs of the Original Appraisal and each Updated Appraisal; provided that Borrower shall not be required to pay for more than one (1) Updated Appraisal in any twelve (12) month period unless either: (i) an Event of Default has occurred, or (ii) Agent has determined in good faith that there is a material likelihood that an updated Appraisal would reflect a diminution in Value of the Property of ten (10%) percent or more from the most recent appraisal.

• All statements made by the Insured, the Services, the Borrower or any other Person in any part of the Application, including the Original Appraisal, plans and specifications, or any exhibits or documents submitted therewith, are deemed to be the Insured's representations.

• Agent shall have the right at its option, from time to time, to order an update, and shall upon Borrower’s request, order an update, to the Original Appraisal or a new appraisal (collectively, an “Updated Appraisal”).

• Borrower shall pay for the costs of the Original Appraisal and each Updated Appraisal; provided that Borrower shall not be required to pay for more than one (1) Updated Appraisal in any twelve (12) month period unless either: (i) a Default has occurred, or (ii) Administrative Agent has determined in good faith that there is a material likelihood that an updated Appraisal would reflect a diminution in Value of the Property of five (5%) percent or more from the most recent appraisal.

• Administrative Agent shall have the right at its option, from time to time, to order an update to the Original Appraisal or a new appraisal (collectively, an "Updated Appraisal").

More Definitions of Original Appraisal

Original Appraisal means the Appraisal prepared by ▇▇▇▇▇▇▇ Group, Inc., dated July 11, 2008.

Original Appraisal means, with respect to Equipment and with respect to Real Estate, each of the appraisals dated respectively August 7, 1996 and August 13, 1996, prepared by M.B. Valuation Services, Inc.

Original Appraisal has the meaning specified in Section 7.11(a)(ii).

Original Appraisal. Firm A Name of the Appraisal firm Text Original Purchase Price A Price paid for home. Number Purchase BPO A BPO at the time of Purchase by GS. Number Purchase BPO Date A Date of the Purchase BPO Date Lien Position A Number used to identify the lien position in effect at the Number time of application. Example: 1, 2, 3 PMI Provider A Name or code for company providing private mortgage insurance. PMI Coverage Percentage A Percentage of insurance provided by PMI agreement.

Original Appraisal means the Appraisal prepared by Diversified Real Estate Services, Inc., dated September 26, 2007.

Original Appraisal means the Appraisal prepared by ▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇▇ of Illinois, Inc., Valuation Services, Capital Markets Group, dated September 28, 2007.