Tax Parcels Clause Samples
The Tax Parcels clause defines how individual parcels of land are identified and treated for property tax purposes within a legal agreement. Typically, this clause specifies the parcel numbers or legal descriptions used by local tax authorities to assess and collect property taxes, ensuring that all parties are clear about which portions of land are subject to taxation. By clearly delineating tax parcels, the clause helps prevent disputes over tax liability and ensures accurate allocation of tax responsibilities among parties involved in the transaction.
Tax Parcels. Each Mortgaged Property constitutes one or more complete separate tax lots or is subject to an endorsement under the related Title Policy insuring same, or in certain instances an application has been made to the applicable governing authority for creation of separate tax lots, which shall be effective for the next tax year.
Tax Parcels. Each Mortgaged Property is on one or more separate tax parcels, and each such parcel (or parcels) is (or are) separate and apart from any other property.
Tax Parcels. Except as described on Schedule B-35 of this Agreement, each Mortgaged Property constitutes one or more complete separate tax lots containing no other property, or is subject to an endorsement under the related Title Policy insuring same, or an application for the creation of separate tax lots complying in all respects with the applicable laws and requirements of the applicable governing authority has been made and approved by the applicable governing authority and such separate tax lots shall be effective for the next tax year.
Tax Parcels. Each Mortgaged Property constitutes one or more complete separate tax lots or is subject to an endorsement under the related Title Policy insuring same, or in certain instances an application has been made to the applicable governing authority for creation of separate tax lots, in which case the Mortgage Loan requires the Borrower to escrow an amount sufficient to pay taxes for the existing tax parcel of which the Mortgaged Property is a part. PMCF/BSCMI/NLIC/PCF/PCFII
Tax Parcels. If Landlord determines in its reasonable discretion that the configuration of tax parcels within the Project (including without limitation the tax parcel on which the Premises is situated) causes the allocation of Real Property Taxes between the affected tax parcels to be unfair or inequitable, Landlord reserves the right to internally reallocate the Real Property Taxes assessed against such affected tax parcels in a manner that reasonably addresses such unfairness or inequity. If Landlord effects any such reallocation, then the Real Property Taxes payable by Tenant under this Lease shall be those Real Property Taxes allocated to the Premises pursuant to this PARAGRAPH 15.A.(i).
Tax Parcels. Except as otherwise described on Schedule C-1 of this Agreement, each Mortgaged Property constitutes one or more complete separate tax lots or is subject to an endorsement under the related Title Policy insuring same, or in certain instances an application has been made to the applicable governing authority for creation of separate tax lots which shall be effective for the next tax year.
Tax Parcels. Except as otherwise described on Schedule C-37 of this Agreement, each Mortgaged Property constitutes one or more complete separate tax lots or is subject to an endorsement under the related Title Policy insuring same, or in certain instances an application has been made to the applicable governing authority for creation of separate tax lots which shall be effective for the next tax year.
Tax Parcels. Each Property is on one or more separate tax parcels, and each such parcel (or parcels) is (or are) separate and apart from any other property.
Tax Parcels. Each Mortgaged Property constitutes one or more complete separate tax lots containing no other property, or is subject to an endorsement under the related Title Policy insuring same, or an application for the creation of separate tax lots complying in all respects with the applicable laws and requirements of the applicable governing authority has been made and approved by the applicable governing authority and such tax lots shall be effective for the next tax year. SCHEDULE A Exceptions to Representations and Warranties SCHEDULE B List of Mortgagors that are Third-Party Beneficiaries Under Section 5.5 SCHEDULE C LIST OF MORTGAGE LOANS SUBJECT TO SECURED CREDITOR IMPAIRED PROPERTY POLICIES EXHIBIT 3 PRICING FORMULATION EXHIBIT 4 ▇▇▇▇ OF SALE
1. Parties. The parties to this ▇▇▇▇ of Sale are the following: Seller: Principal Commercial Funding, LLC. Purchaser: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Capital I Inc.
Tax Parcels. Each Mortgaged Property constitutes one or more complete separate tax lots containing no other property, or is subject to an endorsement under the related Title Policy insuring same, or an application for the creation of separate tax lots complying in all respects with the applicable laws and requirements of the applicable governing authority has been made and approved by the applicable governing authority and such tax lots shall be effective for the next tax year. Schedule A to Exhibit 2 Exceptions to Representations and Warranties SCHEDULE A EXCEPTIONS TO REPRESENTATIONS AND WARRANTIES* EXCEPTIONS TO REPRESENTATION (4) LOANS EXCEPTIONS --------------------------------- -------------------------------------------- ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ BUILDING The Mortgage Loan is structured as an indemnity deed of trust ("IDOT"), under which the guarantor of the Mortgage Note related to the IDOT owns the related Mortgaged Property and thus has an interest in the lease payments. EXCEPTIONS TO REPRESENTATION (13) LOANS EXCEPTIONS --------------------------------- -------------------------------------------- ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Loan is structured as an IDOT, and while the related Mortgagor was the maker of the Mortgage Note, the Mortgage was given by the IDOT grantor. EXCEPTIONS TO REPRESENTATION (14)