Finished Lots. With respect to Finished Lots, the lesser of (i) eighty percent (80%) of Finished Lot Acquisition Cost for the Finished Lot and (ii) seventy-five percent (75%) of the Appraised Value of the Finished Lot;
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Sources: First Modification Agreement (Neighborhoods V, LLC), Loan Agreement (Stanley-Martin Communities, LLC)
Finished Lots. With respect to Finished Lots, the lesser of (i) eighty percent (80%) of Finished Lot Acquisition Cost for the Finished Lot and (ii) seventy-five percent (75%) of the Appraised Value of the Finished Lot;; WB/Neighborhoods Second Modified and Restated Loan Agreement
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