Abatement Property definition
Examples of Abatement Property in a sentence
The Developer shall, so long as this Agreement remains in effect, pay all real property taxes with respect to all parts of the Tax Abatement Property owned by it which are payable pursuant to any statutory or contractual duty that shall accrue until title to the property is vested in another person.
The Company shall, so long as this Agreement remains in effect, pay all real property taxes with respect to all parts of the Tax Abatement Property owned by it which are payable pursuant to any statutory or contractual duty that shall accrue until title to the property is vested in another person.
The Developer agrees for itself, its successors and assigns and every successor in interest to the Tax Abatement Property, or any part thereof, that during the term of this Agreement the Developer and such successors and assigns shall operate, or cause to be operated, the Project as a multifamily rental housing facility, and shall devote the Tax Abatement Property to, and in accordance with, the uses specified in this Agreement.
The Company may not seek through petition or other means to have the market value for the Tax Abatement Property as determined by the County Assessor reduced for any year in which: (i) the Tax Abatement Program is being undertaken by the City; or (ii) the City is scheduled to make a payment to the Company pursuant to Section 3.9 of this Agreement.
The Company agrees for itself, its successors and assigns and every successor in interest to the Tax Abatement Property, or any part thereof, that during the term of this Agreement the Company and such successors and assigns shall operate, or cause to be operated, the Project as contemplated herein, and shall devote the Tax Abatement Property to, and in accordance with, the uses specified in this Agreement.