The Independent Broker shall consider such evidence as Landlord and/or Tenant may submit, conduct such investigations and hearings as he or she may deem appropriate and shall, within sixty (60) days after the date of his or her appointment, choose either the estimate set forth in Landlords Brokers Letter or the estimate set forth in Tenants Brokers Letter to be the Fair Offer Rent and such choice shall be binding upon Landlord and Tenant. Landlord and Tenant shall each pay the fees and expenses of its respective broker. The fees and expenses of the Independent Broker shall be shared equally by Landlord and Tenant.
The Independent Renewal Broker shall consider such evidence as Landlord and/or Tenant may submit,submit (provided that Landlords FMRV Estimate shall not be considered), conduct such investigations and hearings as he or she may deem appropriate and shall, within sixty (60) days after the date of his or her appointment, choose either the estimate set forth in Landlords Renewal Brokers Letter or the estimate set forth in Tenants Renewal Brokers Letter to be the Fair Offer RentRenewal FMRV and such choice shall be binding upon Landlord and Tenant. Landlord and Tenant shall each pay the fees and expenses of its respective broker. The fees and expenses of the Independent Broker shall be shared equally by Landlord and Tenant.
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