Common use of Payment Collection Clause in Contracts

Payment Collection. Payments for the Taxing Jurisdiction shall be made payable to The Town of Manlius and mailed to ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇, and are due no later than January 31st of each year. It shall be deemed a “Payment Default” in the event Owner fails to make timely payment to the Taxing Jurisdiction pursuant to this Section 6. The Taxing Jurisdictions acknowledge and agree that the Taxing Jurisdiction will be required to issue a Notice of Default in the event Owner fails to make timely payment and that Owner shall have the opportunity to cure said Payment Default within ten (10) days of receipt of notice thereof. All late payments shall accrue interest at the statutory rate for late tax payments under New York Law. Owner shall pay the reasonable attorney fees, court and other costs incurred by the Taxing Jurisdiction in the collection of the unpaid amounts. All payments by the Owner hereunder shall be paid in lawful money of the United States of America.