Fee Simple Value definition
Fee Simple Value means the appraised value of a property for which the owner has absolute ownership, unencumbered by any other interest or estate subject only to the limitations imposed by the governmental powers of taxation, eminent domain, police power and escheat.
Fee Simple Value means, as of the date of determination, the fair market value of Eligible Real Estate as set forth in the most recent appraisal of Eligible Real Estate as determined from time to time by an independent professional appraiser engaged by the Agent in accordance with Section 6.10(d) based upon a fee simple “go-dark” methodology which appraisal shall assume, among other things, a marketing period of no more than twelve (12) months (provided that the Fee Simple Value of Eligible Real Estate shall in no event exceed the maximum amount of the Obligations at any time specified to be secured by a Mortgage thereon). As of the Closing Date, the Fee Simple Value of the Baldwyn Real Estate is $12,250,000.
Examples of Fee Simple Value in a sentence
Non-Exclusive) in Unai Dangkulu, Saipan Total: 581,585 square meters Fee Simple Value of Premises (applicable during first 5 years of term): $18,419,000.00 Base Rent during initial 5-year period (in dollars): $110,514.00 (calculated as 0.6% of the Fee Simple Value of the Premises) Additional Rent (as percent of BGR): 1.0-1.5% of Business Gross Receipts pursuant to the table in Article 5.B Security Deposit: $250,000 Additional Security Deposit: 2.5% of total improvement cost by phases.