Otherwise. in the absence of recorded current fair market values or agreed values for each article covered, the “Authority” shall not be liable beyond the fair market value of the property at the time any loss or damage occurs. Said value shall be ascertained by the “Member” and the “Authority” or, if they differ, then the amount of value or loss shall be determined as provided in the following appraisal clause.
Appears in 3 contracts
Sources: Memorandum of Coverage, Memorandum of Coverage, Memorandum of Coverage