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071663P.pdf   09/03/2008  STL 300 N.4th  v.  Value St. Louis Associates
   U.S. Court of Appeals Case No:  07-1663
   U.S. District Court for the Eastern District of Missouri - St. Louis   
   [PUBLISHED] [Shepherd, Author, with Colloton, Circuit Judge, and
   Erickson, District Judge]
   Civil case - contracts. District court did not in determining that the
   parties to the lease in question intended the phrase "demised premises" 
   to mean the vacant and unimproved land itself, without taking into
   consideration the tenant's lease interest; as a result, demised premises
   means a hypothetical fee simple interest in the land, or the value of the
   land without consideration of the effect of the ground lease; however, the
   court erred in interpreting the lease's provision for appointment of a
   third appraiser to mean that the third appraiser was to serve as a
   tiebreaker or as a binding appraisal; case remanded for further
   proceedings.