Common use of Taxes and Liens Clause in Contracts

Taxes and Liens. PURCHASER agrees to pay all taxes and liens hereafter levied upon the property and all public or private liens which may hereafter be imposed upon the property as the same become due and before they become delinquent. In the event PURCHASER defaults in the payment of any taxes or liens, the COUNTY may, but shall not be obligated to, pay said taxes or liens on behalf of PURCHASER, all of which sums so added to the principal balance shall bear interest at the rate of sixteen percent (16%) compounded annually from the date of payment by the COUNTY.

Taxes and Liens. PURCHASER agrees to pay all taxes and liens hereafter levied upon the property Property and all public or private liens which may hereafter be imposed upon the property Property as the same become due and before they become delinquent. In the event PURCHASER defaults in the payment of any taxes or liens, the COUNTY may, but shall not be obligated to, pay said taxes or liens on behalf of PURCHASER, all of which sums so added to the principal balance shall bear interest at the rate of sixteen percent (16%) 12% compounded annually from the date of payment by the COUNTY.