Common use of Taxes; Assessments Clause in Contracts

Taxes; Assessments. Subject to the terms below, Seller shall pay: (a) all property taxes and special assessments attributed to any tax parcel that includes any part of the Property (“Taxes” and “Assessments”) and last payable without a penalty prior to 2021; (b) all 2020 Taxes due in 2021 (“2020 Taxes”) to the extent attributed to any real estate other than the Property and not paid by a purchaser of such other real estate; and (c) one-half of the 2020 Taxes to the extent attributed to the Property. Buyer shall pay all other Taxes and Assessments to the extent attributed to the Property. To the extent ascertainable and payable at the time of closing, Taxes and Assessments shall be collected by the closing agent from the proper party(ies) and paid directly to the county treasurer. To the extent not ascertainable and payable at the time of closing, all Taxes and Assessments to become due in 2021 (including 2020 Taxes) shall be estimated based on 100% of the amount last billed for a calendar year (“Estimated Taxes”). Seller’s share of the Estimated Taxes, to the extent attributed to the Property, shall be paid via credit against the sums due from Buyer at closing; provided, however, if this sale involves a tax parcel split then, in lieu of a credit to Buyer at closing, Seller may elect to have the closing agent collect from all parties their respective shares of the Estimated Taxes, to be held pursuant to an escrow arrangement approved by Seller and applied towards payment of the Taxes and Assessments when billed after closing. In any event, Xxxxx shall then pay all Taxes and Assessments when billed after closing (to the extent attributed to the Property and to the extent not paid via escrow) and any shortage or surplus with respect to the estimated amount credited or paid by Seller at closing shall be paid or retained by or refunded to Buyer (to the extent attributed to the Property). If this sale involves a tax parcel split, the extent to which any Taxes and/or Assessments are attributed to the Property shall be based on a split calculation provided by the appropriate property tax official or, if an official split calculation is not available, based on an estimated split calculation using available assessment data. If the billing of any Taxes and/or Assessments after closing includes portions attributed to the Property and other real estate, Xxxxx shall cooperate with the owner(s) of such other real estate to facilitate timely payment of the balance due and Buyer shall pay the portion attributed to the Property.

Taxes; Assessments. Subject to the terms below, Seller shall pay: (a) all general property taxes and special assessments attributed to any tax parcel that includes any part of the Property (“Taxes” ”) and last payable without a penalty before or during 2020; (b) all special assessments, including drainage assessments, if any, attributed to any such tax parcel (“Assessments”) and last payable without a penalty prior to 2021before or during 2020; and (bc) all Taxes that are or will be assessed for the entire calendar year 2020 Taxes due in 2021 (“2020 Taxes”) to the extent attributed to any real estate other than the Property and not paid by a purchaser ), all of such other real estate; and (c) one-half of the 2020 Taxes to the extent attributed to the Property. Buyer shall pay all other Taxes and Assessments to the extent attributed to the Property. To the extent ascertainable and payable at the time of closing, Taxes and Assessments which shall be collected by the withheld from Seller’s proceeds at closing agent from the proper party(ies) and paid directly to the county treasurer. To the extent ; provided, however, if not ascertainable and payable at the time of closing, all the 2020 Taxes and Assessments to become due in 2021 (including 2020 Taxes) shall be estimated based on 100% of the amount last billed for a calendar year (“Estimated Taxes”). Seller’s share of and the Estimated Taxesamount thus estimated, to the extent attributed to the Property, shall be paid via credit against the sums due from Buyer at closing; provided, howeverfurther, if this sale involves a tax parcel split then, in lieu of a credit to Buyer at closingsplit, Seller may elect instead to have deliver to the closing agent collect from all parties their respective shares the entire amount of the Estimated Taxes, estimated 2020 Taxes to be held pursuant to an in escrow arrangement approved by Seller and applied towards the payment of the 2020 Taxes and Assessments when billed after closing. In any event, Xxxxx Buyer shall then pay all Taxes and Assessments when billed due after closing (to the extent attributed to the Property and to the extent not paid via escrow) and any shortage or surplus with respect to the estimated amount credited or paid by Seller at closing shall be paid or retained by or refunded to Buyer (to the extent attributed to the Property). If this sale involves a tax parcel split, the extent to which any Taxes and/or Assessments are attributed to the Property shall be based on a split calculation provided by the appropriate property tax official or, if an official split calculation is not available, based on an estimated split calculation using available assessment data. If the billing of any Taxes and/or Assessments after closing includes portions attributed to the Property and other real estate, Xxxxx shall cooperate with the owner(s) of such other real estate to facilitate timely payment of the balance due and Buyer shall pay the portion attributed to the Property.

Taxes; Assessments. Subject Real and personal property taxes, assessments and all other public or governmental charges (including charges, assessments, liens or encumbrances for sewer, water, drainage or other public improvements completed or commenced on or prior to the terms belowdate of Closing) which have been paid or are due and payable for any time period in which both Seller and Purchaser shall have title to the Hotel shall be adjusted and apportioned as of the Apportionment Time. If the exact amount of taxes is not known at Closing, the proration will be based on the prior year’s taxes and shall be adjusted directly between Seller and Purchaser once actual figures become available after Closing. Where a tax appeal for any of the items described in the first sentence hereof is pending at Closing by Seller, a subsequent adjustment will be made between Seller and Purchaser based upon a re-proration of real estate taxes in accordance with the results of such appeal and all costs and fees incurred in connection with such appeal, including the costs and fees of any person or company retained by Seller to appeal such taxes and assessments, shall also be prorated between Purchaser and Seller. If Purchaser chooses to pursue any tax appeal that is not pending at Closing, then Purchaser shall bear all the costs and receive any benefits relating to any such appeal. Seller shall pay: be responsible for all of its federal state and local income and franchise taxes, all sales or use tax (a) all property if any), employment taxes, payroll taxes, occupancy or entertainment taxes, ad valorem taxes, liquor taxes and special assessments attributed all sales, revenue and excise tax (and any surtax, interest and penalties thereon) and similar taxes (collectively, “Sales Tax”) for the Hotel relating to periods before the Closing Date. Purchaser and Seller shall each pay 50% of any tax parcel that includes any part Sales Tax applicable to the transaction contemplated by this Agreement. Seller shall use commercially reasonable efforts to deliver to Purchaser, within ninety (90) days of the Property (“Taxes” Closing, a tax clearance certificate from the Texas Comptroller of Public Accounts stating that all Sales Tax required to be paid by Seller under this Section 10.2.8 has been paid and “Assessments”) and last payable without a penalty that no amount is due for periods prior to 2021; (b) the Closing Date. Seller will file in a timely manner any Texas sales and use tax returns or other documents required of it and shall cause all 2020 Taxes Sales Tax due in 2021 (“2020 Taxes”) and payable for the period prior to the extent attributed to any real estate other than the Property and not paid by a purchaser of such other real estate; and (c) one-half of the 2020 Taxes to the extent attributed to the Property. Buyer shall pay all other Taxes and Assessments to the extent attributed to the Property. To the extent ascertainable and payable at the time of closing, Taxes and Assessments shall be collected by the closing agent from the proper party(ies) and paid directly to the county treasurer. To the extent not ascertainable and payable at the time of closing, all Taxes and Assessments to become due in 2021 (including 2020 Taxes) shall be estimated based on 100% of the amount last billed for a calendar year (“Estimated Taxes”). Seller’s share of the Estimated Taxes, to the extent attributed to the Property, shall be paid via credit against the sums due from Buyer at closing; provided, however, if this sale involves a tax parcel split then, in lieu of a credit to Buyer at closing, Seller may elect to have the closing agent collect from all parties their respective shares of the Estimated Taxes, to be held pursuant to an escrow arrangement approved by Seller and applied towards payment of the Taxes and Assessments when billed after closing. In any event, Xxxxx shall then pay all Taxes and Assessments when billed after closing (to the extent attributed to the Property and to the extent not paid via escrow) and any shortage Closing Date or surplus with respect to the estimated amount credited or paid by Seller at closing shall transactions contemplated under this Agreement to be paid or retained by or refunded to Buyer (to the extent attributed to the Property). If this sale involves a tax parcel split, the extent to which any Taxes and/or Assessments are attributed to the Property shall be based on a split calculation provided by the appropriate property tax official or, if an official split calculation is not available, based on an estimated split calculation using available assessment data. If the billing of any Taxes and/or Assessments after closing includes portions attributed to the Property and other real estate, Xxxxx shall cooperate with the owner(s) of such other real estate to facilitate timely payment of the balance due and Buyer shall pay the portion attributed to the Propertybefore delinquent.

Taxes; Assessments. Subject to the terms below, Seller shall pay: (a) all general property taxes and special assessments attributed to any tax parcel that includes any part of the Property (“Taxes” and “Assessments”) and last payable without a penalty prior to 2021; (b) all that are or will be assessed for the entire calendar year 2020 Taxes due in 2021 (“2020 Taxes”); (b) to the extent attributed to any real estate other than the Property and not paid by a purchaser of such other real estateall prior unpaid Taxes; and (c) one-half all special assessments, including drainage assessments, if any, attributed to any tax parcel that includes any part of the 2020 Taxes to Property (“Assessments”) that are last payable without a penalty on or before the extent attributed to the Property. Buyer shall pay all other Taxes and Assessments to the extent attributed to the Property. To the extent ascertainable and payable at the time day of closing, Taxes and Assessments all of which shall be collected by the withheld from Seller’s proceeds at closing agent from the proper party(ies) and paid directly to the county treasurer. To the extent appropriate tax collection office; provided, however, if not ascertainable and payable at the time of closing, all the 2020 Taxes and Assessments to become due in 2021 (including 2020 Taxes) shall be estimated based on 100% of the amount last billed for a calendar year (“Estimated Taxes”). Seller’s share of and the Estimated Taxesamount thus estimated, to the extent attributed to the Property, shall be paid via credit against the sums due from Buyer at closing; provided, howeverfurther, if this sale involves a tax parcel split then, in lieu of a credit to Buyer at closingsplit, Seller may elect instead to have deliver to the closing agent collect from all parties their respective shares the entire amount of the Estimated Taxes, estimated 2020 Taxes to be held pursuant to an in escrow arrangement approved by Seller and applied towards the payment of the 2020 Taxes and Assessments when billed after closing. In any event, Xxxxx Buyer shall then pay all Taxes and Assessments when billed due after closing (to the extent attributed to the Property and to the extent not paid via escrow) and any shortage or surplus with respect to the estimated amount credited or paid by Seller at closing shall be paid or retained by or refunded to Buyer (to the extent attributed to the Property). If this sale involves a tax parcel split, the extent to which any Taxes and/or Assessments are attributed to the Property shall be based on a split calculation provided by the appropriate property tax official or, if an official split calculation is not available, based on an estimated split calculation using available assessment data. If the billing of any Taxes and/or Assessments after closing includes portions attributed to the Property and other real estate, Xxxxx Buyer shall cooperate with the owner(s) of such other real estate to facilitate timely payment of the balance due and Buyer shall pay the portion attributed to the Property.

Taxes; Assessments. Subject to the terms below, Seller shall pay: (a) all property General real estate taxes and special drainage assessments attributed to any tax that are or will be assessed against the parent parcel that includes any part of the Property (“Taxes” and “Assessments”, respectively) shall be allocated and paid as follows. At closing, Seller shall pay any balance owed for Taxes and/or Assessments last payable without a penalty prior to 2021; in 2022 or earlier. The 2022 Taxes (b) all 2020 Taxes due in 2021 (“2020 Taxes”) to the extent attributed to any real estate other than the Property and not paid by a purchaser of such other real estate; and (c) one-half of the 2020 Taxes to the extent attributed to the Property. Buyer shall pay all other Taxes and Assessments to the extent attributed to the Property. To the extent ascertainable and payable at the time of closing, Taxes and Assessments shall be collected by the closing agent from the proper party(ies) and paid directly to the county treasurer. To the extent not ascertainable and payable at the time of closing, all Taxes and Assessments to become due in 2021 (including 2020 Taxes2023) shall be estimated based on 100% of the 2021 Taxes (due in 2022) and the amount last billed for thus estimated (“Estimated 2022 Taxes”) shall be allocated between the newly-created parcels and the portion allocated to the Property shall be prorated on a calendar year (“Estimated Taxes”). Seller’s share of the Estimated Taxes, basis to the extent attributed to the Property, shall be paid via credit against the sums due from Buyer at date of closing; provided, however, if this sale involves a tax parcel split then, in lieu of a credit to Buyer at closing, Seller may elect to have the closing agent collect from all parties their . The parties’ respective shares of the entire amount of the Estimated Taxes2022 Taxes (for the entire parent parcel, as allocated and prorated between the parties) shall be collected from the proper parties at closing, to be either held pursuant to an in escrow arrangement approved by Seller and applied towards payment of the 2022 Taxes and Assessments when billed after closingclosing or paid directly to the county treasurer as an estimated prepayment of the 2022 Taxes. In any event, Xxxxx Buyer shall then pay all Taxes and Assessments when billed due after closing (to the extent attributed to the Property and to the extent not paid via escrow) and any shortage escrow or surplus with respect to the estimated amount credited or paid by Seller at closing shall be paid or retained by or refunded to Buyer (to the extent attributed to the Property)prepayment. If this sale involves a tax parcel split, the The extent to which any Taxes, estimated Taxes and/or Assessments are attributed to the Property and/or any other new parcel shall be based on a split calculation provided by the appropriate property tax official (or, if an official split calculation is not available, based on an estimated split calculation using available assessment data). If the billing of After closing, if any Taxes and/or Assessments after closing includes are billed as a lump sum with portions attributed to the Property and other real estate, Xxxxx Buyer and Seller shall cooperate with the each other and with any other owner(s) of such other real estate to facilitate timely payment of the balance due and Buyer and Seller shall pay their respective shares of the portion attributed to the Propertybalance due.

Taxes; Assessments. Subject to the terms below, Seller shall pay: (a) all general property taxes and special assessments attributed to any tax parcel that includes any part of the Property (“Taxes” ”) and last payable without a penalty before or during 2020; (b) all special assessments, including drainage assessments, if any, attributed to any such tax parcel (“Assessments”) and last payable without a penalty prior to 2021before or during 2020; and (bc) all Taxes that are or will be assessed for the entire calendar year 2020 Taxes due in 2021 (“2020 Taxes”) to the extent attributed to any real estate other than the Property and not paid by a purchaser ), all of such other real estate; and (c) one-half of the 2020 Taxes to the extent attributed to the Property. Buyer shall pay all other Taxes and Assessments to the extent attributed to the Property. To the extent ascertainable and payable at the time of closing, Taxes and Assessments which shall be collected by the withheld from Seller’s proceeds at closing agent from the proper party(ies) and paid directly to the county treasurer. To the extent ; provided, however, if not ascertainable and payable at the time of closing, all the 2020 Taxes and Assessments to become due in 2021 (including 2020 Taxes) shall be estimated based on 100% of the amount last billed for a calendar year (“Estimated Taxes”). Seller’s share of and the Estimated Taxesamount thus estimated, to the extent attributed to the Property, shall be paid via credit against the sums due from Buyer at closing; provided, howeverfurther, if this sale involves a tax parcel split then, in lieu of a credit to Buyer at closingsplit, Seller may elect instead to have deliver to the closing agent collect from all parties their respective shares the entire amount of the Estimated Taxes, estimated 2020 Taxes to be held pursuant to an in escrow arrangement approved by Seller and applied towards the payment of the 2020 Taxes and Assessments when billed after closing. In any event, Xxxxx Buyer shall then pay all Taxes and Assessments when billed due after closing (to the extent attributed to the Property and to the extent not paid via escrow) and any shortage or surplus with respect to the estimated amount credited or paid by Seller at closing shall be paid or retained by or refunded to Buyer (to the extent attributed to the Property). If this sale involves a tax parcel split, the extent to which any Taxes and/or Assessments are attributed to the Property shall be based on a split calculation provided by the appropriate property tax official or, if an official split calculation is not available, based on an estimated split calculation using available assessment data. If the billing of any Taxes and/or Assessments after closing includes portions attributed to the Property and other real estate, Xxxxx Buyer shall cooperate with the owner(s) of such other real estate to facilitate timely payment of the balance due and Buyer shall pay the portion attributed to the Property.

Taxes; Assessments. Subject “Taxes” refers to the terms below, Seller shall pay: (a) all property real estate taxes and special assessments attributed to that are or will be assessed against any tax parcel parcel(s) that includes include(s) any part of the Property (“Taxes” Property. At closing, Seller shall pay Taxes and “Assessments”) and last payable without a penalty prior to 2021; (b) all 2020 drain assessments due in Nov. 2022. The 2022 Taxes due in 2021 (“2020 Taxes”) to the extent attributed to any real estate other than the Property and not paid by a purchaser of such other real estate; and (c) one-half of the 2020 Taxes to the extent attributed to the Property. Buyer shall pay all other Taxes and Assessments to the extent attributed to the Property. To the extent ascertainable and payable at the time of closing, Taxes and Assessments shall be collected by the closing agent from the proper party(ies) and paid directly to the county treasurer. To the extent not ascertainable and payable at the time of closing, all Taxes and Assessments to become due in 2021 (including 2020 Taxes) 2023 shall be estimated based on 100% of the amount last billed for a calendar year and the amount thus estimated (“Estimated 2022 Taxes”). Seller’s share of the Estimated Taxes, ) shall be paid via credit to Buyer at closing (to the extent attributed to the Property), shall be paid via credit against the sums due from Buyer at with no further settlement or adjustment after closing; provided, however, if this sale involves a tax parcel split then, in lieu of a credit to Buyer at closing, Seller may elect to have the closing agent collect from all parties their respective shares entire amount of the Estimated Taxes, 2022 Taxes (including but not limited to the portion attributed to the Property) may be held pursuant collected from Seller at closing and paid directly to the county treasurer as an escrow arrangement approved by Seller and applied towards payment estimated prepayment of the 2022 Taxes and Assessments when billed after closingdue in 2023 (if prepayment is permitted by the county treasurer). In any event, Xxxxx Buyer shall then pay all Taxes and Assessments when billed assessments due after closing (to the extent attributed to the Property and to the extent not paid via escrow) and any shortage or surplus with respect to the estimated amount credited or paid by Seller at closing shall be paid or retained by or refunded to Buyer (to the extent attributed to the Propertydirect prepayment). If this sale involves a tax parcel split, the extent to which any Taxes and/or Assessments assessments are attributed to the Property shall be based on a split calculation provided by the appropriate property tax or assessment official (or, if an official split calculation is not available, based on an estimated split calculation using available assessment data). If the billing of After closing, if any Taxes and/or Assessments after closing includes assessments are billed as a lump sum with portions attributed to the Property and other real estate, Xxxxx Buyer shall cooperate with the owner(s) of such other real estate to facilitate timely payment of the balance due and Buyer shall pay the portion attributed to the Property.