Real Estate Appraiser. If the parties cannot then agree on the Fair Market Rent, the third appraiser shall determine the Fair Market Rent, and in so doing, shall give appropriate consideration to those items described in Paragraph 4.3(i). The third appraiser shall not select a Fair Market Rent either (a) higher than the higher of the two appraisals made pursuant to Paragraph 4.3(i); or (b) lower than the lower of the two appraisals made pursuant to Paragraph 4.3(i) above. If the first two appraisers cannot agree on the selection of a third appraiser within such thirty (30) days, or if the first two appraisers fail to provide a Notice of Disagreement (as stated above in Paragraph 4.3(ii)), then the Fair Market Rent shall be determined by arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association.
Real Estate Appraiser. (Department Certified) - An individual licensed to provide realestate appraisal services in the State of Texas and certified by TxDOT. The terms “Appraiser,” “Real Estate Appraiser,” and “Department-Certified Real Estate Appraiser” are used interchangeably.
