No Separate Xxxx Sample Clauses

No Separate Xxxx. Ifat any time after the initial tax division is effected there is not a separate assessed valuation which can be determined by an examination ofthe Assessor's records and tax bills for the Condominium Property and the Commercial Property, real estate taxes for which no separate assessed valuation can be so detennined shall be allocated to each Owner not separately assessed and taxed based on the ratio of (a) respective appraised value of each portion of the Property for which such Owner is obligated to pay real estate taxes (as set forth in Section 7.1) which is not included in a separate tax xxxx to an Owner, to (b) the total appraised values ofsuch parcels not included in a separate tax xxxx to an Owner. The Owners shall jointly select a single appraiser to determine such appraised values, whose determination shall be binding on the Owners. If the Owners affected by such allocation cannot agree on a single appraiser, such matter shall be an Arbitrable Dispute.
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Related to No Separate Xxxx

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