Legal Appraisal Award Document

LEGAL APPRAISAL AWARD DOCUMENT

This Legal Appraisal Award (the "Award") is made on by and between Appraiser Name: with principal address:

and Owner Name: with principal address:

Case Reference / File No.:

RECITALS

WHEREAS, Owner and Appraiser executed an appraisal engagement or dispute resolution agreement under which Appraiser was retained and empowered to determine the fair market value and related adjustments for the property identified below; and

WHEREAS, Appraiser conducted all necessary inspections, analyses and examinations and considered documents, comparable sales and other factors as set forth in the appraisal file and report; and

WHEREAS, the parties have requested that Appraiser issue a final written Award memorializing the valuation determination, allocations, costs and any applicable interest or apportionments.

NOW, THEREFORE, in consideration of the mutual covenants and representations herein, and intending to be legally bound, the parties agree as follows:

1. DEFINITIONS

For purposes of this Award, the following terms shall have the meanings set forth below: "Property" means the real property and improvements described in Section 3; "Award Date" means the date set forth above; "Fair Market Value" means the cash value for transfer between a willing buyer and willing seller as of the Effective Date; "Effective Date" means the valuation date used by the Appraiser.

2. APPOINTMENT, SCOPE AND AUTHORITY

Appraiser was engaged and authorized to act as the determining appraiser under the applicable engagement terms. Appraiser's determinations, findings and calculations in this Award are final and binding on the parties except upon grounds of manifest error, fraud, or material breach of the engagement terms. Appraiser shall have authority to allocate costs and to set the Effective Date for valuation in accordance with the engagement.

3. DESCRIPTION OF PROPERTY

Inspection Date: ; Effective Valuation Date:

4. VALUATION DETERMINATION

Subject to the terms and conditions of the engagement, Appraiser determines that the Fair Market Value of the Property as of the Effective Date is:

Award Amount: Currency:

5. BASIS OF VALUATION AND METHODOLOGY

Appraiser's valuation is based upon inspections, review of available documents, comparable sales, income and expense data where applicable, cost approach considerations, and adjustments deemed necessary. The appraisal relies upon materials provided by the parties and third-party sources; Appraiser is not responsible for undisclosed defects or inaccurate data supplied by others.

6. ADJUSTMENTS, LIENS, APPORTIONMENTS AND TAXES

The Award amount is subject to reduction for any valid liens, encumbrances or outstanding obligations that attach to the Property and that were not extinguished prior to transfer. Real property taxes, assessments and prorations are to be apportioned as of the Effective Date in accordance with the express allocations set forth in this Award or as required by applicable law.

7. INTEREST, COSTS AND ALLOCATION

Unless otherwise agreed in writing, interest on any unpaid monetary portion of the Award shall accrue at the rate of per annum commencing from until paid. Costs of the appraisal, including reasonable fees and expenses, shall be allocated as follows:

8. ENFORCEMENT, FINALITY AND JUDICIAL REVIEW

The parties agree that the Award is final and binding and may be entered as a judgment or enforcement order in any court of competent jurisdiction. This Award may be vacated or modified only for manifest error, fraud, or other limited grounds under applicable law. The parties waive trial by jury to the extent permitted by law with respect to disputes arising out of enforcement of this Award.

9. CONFIDENTIALITY

Except as required by law, regulatory authority, or to enforce this Award, the parties shall keep the terms of this Award and the underlying appraisal file confidential. Permitted disclosures include those to legal counsel, insurers or courts. Permitted disclosure to courts or authorities: I agree

10. REPRESENTATIONS AND WARRANTIES

Each party represents and warrants that it has full authority to enter into this Award, that execution has been authorized by all necessary corporate or other action, and that the person executing on its behalf has authority to bind the party.

11. NOTICES

Notices under this Award shall be in writing and delivered by hand, certified mail (return receipt requested), or nationally recognized overnight courier to the addresses set forth below or to such other address as a party designates by written notice.

12. GOVERNING LAW; ENTIRE AGREEMENT; SEVERABILITY

This Award shall be governed by and construed in accordance with the laws of the jurisdiction selected by the parties in the engagement agreement or, if none, the laws of the state where the Property is located. This Award constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings. If any provision of this Award is held invalid or unenforceable, the remaining provisions shall remain in full force and effect.

13. AMENDMENT; WAIVER; COUNTERPARTS

This Award may be amended only by a writing signed by both parties. No waiver of any provision of this Award shall be binding unless executed in writing. This Award may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument.

14. ACKNOWLEDGMENT

The parties acknowledge that they have read and understand this Award, that they have had the opportunity to seek independent legal counsel, and that they accept and agree to be bound by its terms.

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