Disclosure of Special Tax. The Company covenants and agrees that from and after the date hereof it will provide all forms of disclosure of the special tax to be levied by the District as required by existing law and by any future laws. In particular, the Company covenants and agrees from and after the date hereof to provide the special tax disclosure notice required by Section 53341.5 of the Act and to retain in its files copies of all notices signed by purchasers in accordance with Section 53341.5. The County shall have the right to inspect and obtain copies of all of the Company’s records regarding special tax disclosure. The Company represents that it has included in its contracts with purchasers of land within the District, and further agrees to include in its contracts with purchasers of land within the District entered into from and after the date hereof, a requirement that such purchasers (i) provide all forms of disclosure of the special tax required by law, including the Section 53341.5 notice in the form provided by the County, (ii) retain signed copies of the Section 53341.5 notice following the sale of any parcel of land within the District to another, and (iii) provide the County on request an opportunity to review and obtain copies of all records relating to disclosure of the special tax. Such contractual provision shall further provide that the County and the District are third party beneficiaries of such disclosure requirements and that the purchaser of land will indemnify the County, the District and their respective officers and employees for any failure of such purchaser to disclose the special tax as required by law.
Appears in 4 contracts
Samples: Disclosure Agreement, Disclosure Agreement, Funding and Disclosure Agreement
