What are the experience requirements for the Appraiser selected to value the Petro Stopping Center property?

According to the 2025 Petro Stopping Center Franchise Disclosure Document, the Appraiser selected to determine the fair market value of a Petro Stopping Center must meet specific experience requirements. The selected appraisal firm (the "Appraiser") needs to have a minimum of ten years of experience in valuing properties similar to Petro Stopping Centers. Furthermore, the individual within the appraisal firm who is directly responsible for valuing the real estate must be a Member Appraisal Institute (MAI) appraiser.

This requirement ensures that the valuation of the Petro Stopping Center is conducted by professionals with relevant expertise and credentials. The ten-year experience requirement guarantees that the appraiser is familiar with the nuances of valuing properties similar to truck stops, while the MAI designation signifies that the individual has met rigorous education, experience, and ethical standards set by the Appraisal Institute.

For a prospective Petro Stopping Center franchisee, this means that in the event of a disagreement with Petro Stopping Center over the fair market value of the franchise during termination or renewal, the independent appraiser chosen will be highly qualified. Both the franchisee and Petro Stopping Center will share the costs of the Appraiser. This process aims to provide an objective and reliable valuation, protecting the interests of both parties involved in the transaction.