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PGF CARE CENTER, INC. v. WOLFE

0401-00608; A127626.

144 P.3d 983 (2006)

208 Or. App. 145

PGF CARE CENTER, INC., an Oregon corporation, Appellant, v. H.L. WOLFE and E.J. Wolfe, Trustees under the Wolfe Living Trust dated July 22, 1992, Respondents. H.L. Wolfe and E.J. Wolfe, Trustees under the Wolfe Living Trust dated July 22, 1992, Third-Party Plaintiffs, v. Phillip G. Fogg, Jr., and Angela J. Fogg, husband and wife, Third-Party Defendants.

Court of Appeals of Oregon.

Decided September 27, 2006.

Attorney(s) appearing for the Case

Kevin H. Kono, Portland, argued the cause for appellant. With him on the brief were Timothy R. Volpert, Rodney E. Lewis, Jr., and Davis Wright Tremaine LLP. On the reply brief was Kent B. Thurber.

Robert J. Miller, Sr., Eugene, argued the cause for respondents. With him on the brief were Brien F. Hildebrand, Beaverton, and Moomaw, Miller & Hildebrand, LLP.

Before LANDAU, Presiding Judge, and BREWER, Chief Judge, and SCHUMAN, Judge.

LANDAU, P.J.

At issue in this case is the extent to which a lease-option agreement that calls for a valuation of the premises binds the parties to the value that an appraiser produced. Specifically, the parties dispute whether the contractual definition of the "property" to be appraised precludes the appraiser from considering in the valuation the fact that the property currently houses an ongoing business. Both plaintiff, the lessee, and defendants, the lessors,...

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