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<br />, _J <br /> <br />-, <br /> <br />~J <br /> <br />DEFINITION OF MARKET VALUE <br /> <br />r- '" <br /> <br />,--.J <br /> <br />Market Value means the most probable price which a property should bring in a competitive and <br />open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently <br />and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this <br />definition is the consummation of a sale as of a specified date and the passing of title from seller to <br />buyer under conditions whereby: <br /> <br />\ J <br /> <br />,', <br /> <br />, , <br /> <br />~ <br /> <br />" <br /> <br />(I) <br /> <br />buyer and seller are typically motivated; <br /> <br />,---.! <br /> <br />, , <br /> <br />(2) <br /> <br />both parties are well infonned or well advised and acting in what <br />they consider their own best interest; <br /> <br />,~ <br /> <br />" <br /> <br />(3) <br /> <br />a reasonable time is allowed for exposure to the open market; <br /> <br />, ) <br /> <br />(4) payment is made in tenns of cash in U.S. dollars or in tenns of <br />financial arrangements comparable thereto; and <br /> <br />the price represents a nonnal consideration for the property sold <br />unaffected by special or creative financing or sales concessions <br />granted by anyone associated with the sale. <br /> <br />" <br /> <br />,-, <br /> <br />" <br /> <br />,~ <br /> <br />~, <br /> <br />~ <br /> <br />r, <br /> <br />----J <br /> <br />QUINLIVAN APPRAISAL <br /> <br />" <br /> <br />5 <br /> <br />,_J <br />