Proration of Taxes and Assessments. (a) Current ad valorem taxes and Assessments under the Deed Restrictions, will be prorated on each Lot as of the date of the applicable Closing. Seller will pay any rollback taxes attributable to the Lots having been assessed at special use valuations or under any agricultural or open-space exemption. If the Subdivision or the Lots to be closed at a particular Closing are taxed as a part of a larger parcel, Seller will, at such Closing, deposit in escrow with the Title Company sufficient funds to pay all of the taxes for the current period and any prior periods on the larger tax parcel.
Proration of Taxes and Assessments. Taxes and Assessments for the calendar years during which the Commencement Date and the Expiration Date occur shall be prorated so that Tenant pays only that portion of the Taxes and Assessments for such calendar years allocable to periods of time during the Term. Such proration shall be computed and made as soon as practicable after the Commencement Date and the Expiration Date.
Proration of Taxes and Assessments. All real property ad valorem taxes, general or special assessments and other charges applicable to the Property (collectively, "Real Property Taxes") shall be prorated as of the Closing Date between Seller and Purchaser, and at time of closing Seller will pay to Purchaser (or the closing agent) Seller's pro rata share of such taxes, assessments and other applicable charges as determined by the Charlotte County Property Appraiser, the Charlotte County Tax Collector and/or other applicable governmental authority. If Seller has paid the Real Property Taxes for the year in which the Closing occurs, Purchaser shall pay to Seller (at the Closing) Purchaser's share of such Real Property Taxes allocable to the portion of the tax year after the Closing.If the real property ad valorem taxes, general assessments and other charges applicable to the Property are not available at Closing, then they shall be estimated based upon the most recent information available. If the foregoing are estimated, Purchaser and Seller agree to reprorate same once the actual xxxx is received. The payments under this Section shall be handled as adjustments to the Purchase Price at the Closing.
Proration of Taxes and Assessments. Real property taxes and other governmental taxes and assessments for the calendar year in which the Closing Date occurs, including special assessments levied prior to the Closing Date, or any installments thereon required to be paid during the calendar year in which the Closing occurs, shall be prorated between Seller and Purchaser as of the Closing Date.
Proration of Taxes and Assessments. The Development Parcel is owned by the DDA and not currently subject to real property tax liability. All taxes and assessments (including special assessments) affecting the Development Parcel which become a lien after the Closing Date shall be paid by the Developer. All installments of special assessments levied against the Development Parcel after the Closing Date shall be paid by the Developer.
Proration of Taxes and Assessments. All real property ad valorem taxes, general or special assessments and other charges applicable to the Property, for the year of closing, shall be prorated as of the Closing Date between Seller and Purchaser, and at time of closing Seller will pay to County Tax Collector Seller's pro rata share of such taxes, assessments and other applicable charges as determined by the Charlotte County Property Appraiser, the Charlotte County Tax Collector and/or other applicable governmental authority. If the real property ad valorem taxes, general assessments and other charges applicable to the Property are not available at Closing, then they shall be estimated based upon the most recent information available. If the foregoing is estimated, Purchaser and Seller agree to reprorate same once the actual xxxx is received.
Proration of Taxes and Assessments. General real estate taxes and assessments imposed by governmental authority ("Taxes") and any assessments by private covenant constituting a lien or charge on the Property for the then-current calendar year or other current tax period not yet due and payable shall be prorated between Seller and Purchaser as of the close of the day immediately preceding the Closing Date. If the Closing occurs prior to the receipt by Seller of the tax bill xxx the calendar year or other applicable tax period in which the Closing occurs, Purchaser and Seller shall prorate Taxes for such calendar year or other applicable tax period based upon the most recent ascertainable assessed values and tax rates prior to Closing. With respect to supplemental taxes assessed against the Property under California Revenue and
Proration of Taxes and Assessments. Purchaser shall receive a credit for any accrued but unpaid general real estate taxes and assessments (including without limitation any assessments imposed by private covenant, “Taxes”) applicable to any period before the Closing Date, even if such Taxes are not yet due and payable. Seller shall receive credit for any unaccued but paid Taxes for any paid period after and including the Closing Date. If the amount of any Taxes has not been determined as of Closing, such credit shall be based on 110 percent of the most recent ascertainable Taxes and shall be reprorated upon issuance of the final tax bxxx. Purchaser shall receive a credit for any special assessments which are levied or charged against the Property, whether or not then due and payable.
Proration of Taxes and Assessments. Purchaser shall receive a credit for any accrued but unpaid general real estate taxes and assessments (including without limitation any assessments imposed by private covenant, “Taxes”) applicable to any period before the Closing Date, even if such Taxes are not yet due and payable. If the amount of any Taxes has not been determined as of Closing, such credit shall be based on the most recent ascertainable Taxes and shall be reprorated upon issuance of the final tax bxxx. Purchaser shall receive a credit for any special assessments which are levied or charged against the Property, whether or not then due and payable. Notwithstanding any provision herein to the contrary, Seller shall be solely responsible for payment of any rollback taxes and any special assessments for improvements to off-site roads and facilities (e.g. Route 29) that may be required in connection with the initial development of the Property for the Proposed Project. If the Property is taxed as portion of a larger parcel, the parties agree to pay the Taxes covering the year of Closing (and any previous years) for the entire parcel to taxing authorities at the Closing, or, if the tax bxxx is not available, pay into escrow the estimated amount of such Taxes (and any future Taxes for such larger parcel anticipated to become due prior to the creation of separate tax lots) for payment by the Escrow Agent directly to the taxing authorities when the tax bxxx becomes available. The parties shall execute and deliver such documentation before and after Closing as may be necessary to cause the Property to be assessed as a separate parcel, which obligation shall survive the Closing.
Proration of Taxes and Assessments. All taxes and assessments attributable to the Land (including any improvements contained thereon) (collectively, “Taxes”), shall be based on the current year’s taxes and prorated between Purchaser and Seller as of 11:59 p.m. on the day immediately preceding the Closing Date. If the current year’s Taxes are not known at Closing, estimates based on the last available tax bxxx(s) shall be used. On the Closing Date, such Taxes not yet due and payable shall be paid by Purchaser and prorated as aforesaid between Seller and Purchaser for the tax year in which Closing occurs. At Closing, Seller shall pay or credit on Purchase Price all delinquent taxes, including penalty and interest, all assessments that are a lien on the date of Contract and all agricultural use tax recoupments for years prior to the year of Closing. At Closing, Seller shall also pay or credit toward the Purchase Price (a) all other unpaid real estate taxes that are a lien for years prior to the year of Closing, prorated through the Closing Date and based on a 365-day year and, if undetermined, on most recent available tax rate and valuation, giving effect to applicable exemptions, recently voted millage, change in valuation, etc., whether or not certified; and (b) any transfer tax, agricultural use tax recoupment or similar fee imposed by law because of the transfer of the Property to Purchaser. All tax and assessment credits and prorations shall be final at closing.
