Reappraisal. If, as determined in Lender’s reasonable discretion, there has been a material deterioration in the value of the Mortgaged Property, Lender shall be entitled, at the expense of Borrower, not more frequently than once every twelve (12) months, to obtain a re-appraisal of the Mortgaged Property. If such re-appraisal confirms a material deterioration in the value of the Mortgaged Property compared with the value shown in the previous appraisal on file with Lender, which deterioration causes Borrower to be in violation of any covenants contained in the Loan Documents, Lender may, at Lender’s option, require Borrower to make an additional payment of principal sufficient to bring Borrower into compliance with such covenants.
Reappraisal. 9 If the corporation and the insured cannot reach agreement as to the extent of loss or damage suffered by the insured under the provisions of the contract as a result of damage caused by one or more of the designated natural perils, the amount shall be determined by independent appraisal as provided by section 48 of the regulations.
Reappraisal. Borrower agrees that Lender shall have the right, in a commercially reasonable manner, to require a reappraisal of the Mortgaged Property at any time, but not more than once annually, and all fees, expenses and other costs associated therewith shall be paid by Borrower, and if not so paid, such amounts shall constitute a portion of Borrower’s obligations evidenced by the Note and secured by the Deed of Trust.
Reappraisal. Borrower agrees to permit the Bank and its appraisers to have access to the Mortgaged Property, in order to obtain a current appraisal of the Mortgaged Property, at the sole cost and expense of Borrower, at any time upon the occurrence of an Event of Default.
Reappraisal. Notwithstanding anything in Section 6.18 to the contrary, is expressly acknowledged and agreed by the Borrower that the Bank will reappraise the Mortgaged Property within thirty (30) days of the date hereof, and that such cost shall be borne by the Borrower.
Reappraisal. Appraisals shall be valid for six (6) months from the date issued. After the expiration of such period, the appraiser(s) who issued the Appraisal(s) shall be engaged to update the no longer valid Appraisal(s) and shall be directed to do so within twenty five (25) business days from the date engaged. If a Party’s original appraiser is not reasonably available to conduct the reappraisal, that Party shall select a new MAI (or a successor organization of appraisers) with at least ten (10) years of experience appraising (i) undeveloped, but entitled, land similar to the applicable lot or parcel, located in Orange, Los Angeles or San Diego Counties; and (ii) land that is subject to a ground lease.
Reappraisal. The Premises shall be reappraised in five (5) Contract Year increments to determine the adjustment of the Annual Facility Rent. The next appraisal shall be completed in 2027. The new Annual Facility Rent amount shall become effective and due at the commencement of every sixth (6th) Contract Year. Notwithstanding the foregoing, however, the Annual Facility Rent may not be increased by more than 20 percent (20%) above the prior Contract Year’s Annual Facility Rent. In this regard, the Premises shall be reappraised within six (6) months prior to the date of each such scheduled five (5) Contract Year increment Annual Facility Rent adjustment.
Reappraisal. The Expansion Premises shall be reappraised in five (5) Contract Year increments to determine the adjustment of the Annual Ground Rent. The new Annual Ground Rent amount shall become effective and due at the commencement of every sixth (6th) Contract Year. Notwithstanding the foregoing, however, the Annual Ground Rent may not be increased by more than forty-five percent (45%) above the prior Contract Year’s Annual Ground Rent. In this regard, the Expansion Premises shall be reappraised within six (6) months prior to the date of each such scheduled five (5) Contract Year increment Annual Ground Rent adjustment.
Reappraisal. If at any time and for any reason Lender, reasonably determines that the value of the Real Estate may have declined or be less than Lender previously anticipated, or Lender is required to reappraise the Real Estate pursuant to regulation or direction from any Governmental Authority regulating Lender, then, within sixty (60) days from Lender's written request, Obligors shall, at Obligors' sole expense, provide to Lender a current appraisal of the Real Estate, from an appraiser reasonably acceptable to Lender and in form and content as required by Lender. Obligors shall cooperate fully with such appraiser and provide all documents and information as the appraiser may reasonably request in connection therewith.
Reappraisal. Notwithstanding any term or provision hereof to the contrary, if at any time and for any reason the Bank in its sole discretion determines that the value of the Property may have declined or be less than Bank previously anticipated, within 30 days from Bank’s written request to Mortgagor therefor, Mortgagor shall provide to Bank, at Mortgagor’s sole cost and expense, a current appraisal of the Property to be ordered by the Bank from an appraiser designated by Bank and in form and content as required by Bank. Mortgagor shall cooperate fully with any such appraiser and provide all such documents and information as such appraiser may request in connection with such appraiser’s performance and preparation of such appraisal. Mortgagor’s failure to promptly and fully comply with Bank’s requirements under this paragraph shall, without further notice, constitute an event of default under this Mortgage and the other loan documents.
