Reassessments. In the event the Property has been assessed for property tax purposes at such rates as would result in reassessment (i.e., “escape assessment” or “roll-back taxes”) based upon the change in land usage or ownership of the Property on or after the Closing Date, Buyer hereby agrees to pay all such taxes and to indemnify and save Seller harmless from and against all Liabilities for such taxes. Such indemnity shall survive the Closing and not be merged therein.
Appears in 7 contracts
Samples: Purchase and Sale Agreement (American Realty Capital Healthcare Trust Inc), Purchase and Sale Agreement (Resource Real Estate Opportunity REIT, Inc.), Purchase and Sale Agreement (Wells Real Estate Fund v L P)
Reassessments. In the event the Property has been assessed for property tax purposes at such rates as would result in reassessment (i.e., “"escape assessment” " or “"roll-back taxes”") based upon the change in land usage or ownership of the Property on or after the Closing Date, Buyer hereby agrees to pay all such taxes and to indemnify and save Seller harmless from and against all Liabilities for such taxes. Such indemnity shall survive the Closing and not be merged therein.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Brookdale Senior Living Inc.)
