Tenants in Common. Upon the recording of such notice, the Unit Owners shall be deemed to be tenants in common in the Agency Space and the Board shall cause an appraisal to be made by a disinterested appraiser of recognized competence in the valuation of property of the nature and in the locality in which the Facility is situated, which appraisal shall set forth an opinion as to the value of the Agency Space as it then exists, together with an opinion of any incremental value, if any, which would accrue if the Agency Space were razed.
Appears in 3 contracts
Sources: Memorandum of Understanding, Memorandum of Understanding, Memorandum of Understanding