escape assessment definition
escape assessment or "roll-back taxes") based upon the change in land usage or ownership of such Property resulting from or after the consummation of the transactions described in this Agreement, as between Buyer and Seller, Buyer hereby agrees to pay all such taxes and to indemnify and save Seller harmless from and against all claims and liability for such taxes. Such indemnity shall survive the Closing.
escape assessment or "roll-back taxes") based upon the change in land usage or ownership of such Facility, Meridian hereby agrees to pay all such taxes and to indemnify and save Prudential harmless from and against all claims and liability for such taxes. Such indemnity shall survive the Closing and not be merged therein.
escape assessment or "roll-back taxes") based upon the change in land usage or ownership of the Property, Buyer hereby agrees to pay all such taxes and to indemnify and save Seller harmless from and against all claims and liability for such taxes. Such indemnity shall survive the Closing and not be merged therein. To the extent not paid by tenants, Seller shall pay all installments of special assessments payable prior to the Closing Date and Buyer shall pay all installments of special assessments payable on and after the Closing Date; provided, however, that Seller shall not be responsible for any installments of special assessments which have not been confirmed or which relate to projects that have not been completed on the date hereof.
More Definitions of escape assessment
escape assessment means an assessment on property which belonged on the local roll, but which escaped proper assessment.