Roll Back Taxes. If the Property is under a special land use assessment and roll back taxes are assessed due to a change in use by Xxxxx, then Buyer shall be solely responsible for any roll back taxes, or recapture that may be assessed.
Roll Back Taxes. The payment of roll-back taxes shall be the responsibility of Seller. At Closing, Seller agrees that the Purchaser shall be given a credit against the Purchaser Price for the estimated amount of roll-back taxes. In the event that the credit given to Purchaser at Closing exceeds the actual roll-back taxes when they are assessed, then Purchaser shall refund the excess amount to Seller. In the event that the credit given to Purchaser at Closing is less than the actual roll-back taxes when they are assessed, then Seller agrees to deliver additional funds to Purchaser at the time of that the taxes are assessed. The agreements of Seller and Purchaser set forth in this Section 6.3 shall survive the Closing.
Roll Back Taxes. If the Property has been ---------------- assessed as "open space" or "agricultural" land, Buyer agrees to pay all subsequent ad valorem tax assessments and penalties for any period prior to the Closing due to any change in ownership or usage of the Property. The foregoing provisions shall survive termination of this Contract.
Roll Back Taxes. The payment of any roll-back taxes assessed against the Property under the roll-back provisions of Section 12-43-220(d)(4) of the Code of Laws of South Carolina 1976, as amended, shall be the responsibility of Buyer. The agreements of Buyer and Seller set forth in this Section 8(b) shall survive the Closing.
Roll Back Taxes. Xxxxx acknowledges that the Property is presently in Act 319 and Xxxxx agrees to be responsible for, and to save Seller harmless from any "Roll-Back" taxes or other taxes heretofore exempted which may be assessed against said premises as a result of the sale of said premises.
Roll Back Taxes. IF THIS SALE OF THE PROPERTY OR BUYER’S USE OF THE PROPERTY AFTER CLOSING RESULTS IN THE ASSESSMENT OF ADDITIONAL TAXES, PENALTIES AND/OR INTEREST FOR PERIODS PRIOR TO CLOSING, BUYER IS SOLELY RESPONSIBLE FOR THE PAYMENT OF SUCH ADDITIONAL TAXES, PENALTIES AND/OR INTEREST.
Roll Back Taxes. Except as set forth on Section 4.15F of the Stockholders’ Disclosure Schedule, the Real Property is not and will not be subject to any “roll-back” tax or similar tax subjecting the owner of such Real Property to any retroactive assessment.
Roll Back Taxes. Seller shall be responsible for any roll-back taxes or similar recoupment arising under any applicable laws or covenants relating to the taxation of the Property or any part thereof (collectively referred to as “Roll-Back Taxes”). Seller shall also be responsible for the timely payment of any interest, penalties and any other amounts arising in connection with Roll-Back Taxes.
Roll Back Taxes. Seller has not taken any action that would, or failed to take any action which failure would, reasonably be expected to cause a change in the classification of the Seller Land for Roll-back Tax purposes.
Roll Back Taxes. If applicable, Seller will pay upon receipt from Purchaser of a statement showing any additional taxes that are attributable to any period prior to Closing that may become due as a result of a change in usage or ownership of the Land (“Roll-Back Taxes”), regardless of whether the change occurs before or after Closing. At Closing, Seller shall deposit with the Title Company an amount equal to 110% of the estimated Roll Back Taxes (“Roll-Back Taxes Deposit”) as if the change in usage or ownership occurred at Closing. Following Closing: (i) Seller shall pay the Roll-Back Taxes for the Land on or before the day that they become delinquent (the “Rollback Taxes Payment Date”) and deliver evidence of same to Purchaser and the Title Company by the Rollback Taxes Payment Date, (ii) if Seller does not deliver to Purchaser and the Title Company evidence reasonably acceptable to Purchaser that Seller has paid the applicable Roll-Back Taxes by the Rollback Taxes Payment Date, then at the request of Purchaser (which request shall also be sent to Seller) the Title Company shall pay the Roll-Back Taxes for the Land with the proceeds from the Roll-Back Taxes Deposit and any additional amounts that Seller has deposited with the Title Company, (iii) if the proceeds available from the Roll-Back Taxes Deposit are insufficient to pay the Roll-Back Taxes, at Purchaser’s request Seller shall deposit said insufficiency with the Title Company to be disbursed pursuant to the terms of this Section 7.05, (iv) if Seller delivers to Purchaser and the Title Company evidence reasonably acceptable to Purchaser that Seller has paid the Roll-Back Taxes, on or before the Rollback Taxes Payment Date then the Title Company shall release the Roll-Back Taxes Deposit to Seller. If Seller and the Title Company fail to perform their respective obligations pursuant to this section, Purchaser may elect to pay the Roll-Back Taxes. Within 10 days after receipt of notice from Purchaser (which notice will also be sent to Seller) the Title Company shall pay to Purchaser out of the Rollback Taxes Deposit (i) the amount of the Roll-Back Taxes paid by Purchaser and (ii) any reasonable out-of-pocket costs incurred by Purchaser relating thereto. Seller shall pay to Purchaser within 10 days after receipt of notice from Purchaser (i) the amount of the Roll-Back Taxes paid by Purchaser not paid to Purchaser pursuant to the preceding sentence together with interest thereon from the date of payment by Purchaser unti...
