Benefit Assessment Lien definition

Benefit Assessment Lien means a lien which evidences a Benefit Assessment and is recorded by EIC, on behalf of the Participating Municipality, on the land records against a Benefited Property.

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Benefit Assessment Lien means a lien which evidences a Benefit Assessment and is recorded by a Participating Municipality on the land records against a Qualifying Property at Green Bank’s direction pursuant to the Participation Agreement. The form of such Benefit Assessment Lien is attached hereto as Appendix K, as may be modified or amended from time to time by Green Bank, in its sole discretion.

Benefit Assessment Lien means the special assessment lien levied against the Qualifying Real Property securing the PropertyFit Financing, pursuant to the Acts.

Examples of Benefit Assessment Lien in a sentence

Pursuant to the Financing Agreement, the final amount of the benefit assessment may be adjusted after the levy of the Benefit Assessment Lien.
The Green Bank will reimburse the Municipality the cost charged by the Town Clerk for amending the Benefit Assessment Lien.
The Green Bank will reimburse the Municipality the cost charged by the Town Clerk for recording the Benefit Assessment Lien.
Such Benefit Assessment Lien shall be levied and collected in the same manner as the property taxes of the Municipality on real property, including, in the event of default or delinquency, with respect to any penalties, fees and remedies and lien priorities as provided by the Act.
The agreement may provide for the Municipality to pursue the collection of any delinquent benefit assessments with the same diligence it employs in the collection of the Municipality’s real property taxes, including the commencement of foreclosure proceedings to the extent provided by the then-current statutes of the State of Connecticut, and to take such actions that are required to preserve the Benefit Assessment Lien securing the delinquent benefit assessments.
The Financing Agreement shall provide for the consent of existing mortgage holders for the Benefit Assessment Lien to be continued, recorded and released by the Municipality, as required by the Act and described in Section 3(c) herein.
The Green Bank will assign to Capital Provider all powers and rights under the Benefit Assessment Lien by filing an Assignment of Benefit Assessment Lien, materially in the form of Appendix C attached hereto, on the land records of the Municipality.
In the event of an insolvency of Green Bank, Green Bank shall not claim any such Benefit Assessment or its related Benefit Assessment Lien as an asset of its estate, the parties hereto acknowledging that their intent is to treat assignment as a transfer of Green Bank’s right, title and interest in and to any such Benefit Assessment and its related Benefit Assessment Lien as they relate to the Property.
The Municipality shall assign to Green Bank all powers and rights under the Benefit Assessment Lien by filing an Assignment of Benefit Assessment Lien, materially in the form of Appendix B attached hereto, on the land records of the Municipality.
Green Bank shall be responsible for promptly recording the assignment of the Benefit Assessment Lien in the applicable land records, with the costs of recording to be paid by Capital Provider.

More Definitions of Benefit Assessment Lien

Benefit Assessment Lien means the special assessment lien levied against the Qualified Real Property pursuant to ORS 223.680(7)(a) and ORS 223.685(6)(a) as further described in Recital 9 and EXHIBIT E – NOTICE OF BENEFIT ASSESSMENT LIEN.

Benefit Assessment Lien a lien secured by the Qualified Real Property which is senior to all other encumbrances on the property other than municipal real property taxes.

Benefit Assessment Lien means the special assessment lien levied against the Qualifying Real Property securing CPACE financing, pursuant to ORS 223.680(7)(a) and ORS 223.685(6)(a).