PACE Charges definition

PACE Charges means a contractual assessment or special tax as established by a public agency pursuant to AB811 or SB555, respectively, levied on certain parcels to fund eligible improvements to private property and entered into voluntarily by the property owner.
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PACE Charges means (a) a voluntary contractual assessment established and levied on an Assessor’s Parcel pursuant to Chapter 29 of Part 3 of Division 7 of the California Streets and Highways Code (commencing with Section 5898.10 et seq.), as amended from time to time, and
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Examples of PACE Charges in a sentence

  • In addition, the Lender shall promptly notify the Administrator of any judicial proceeding(s) against the Borrower or in respect of the Property to enforce the Program Financing Agreement, any other PACE Financing Documents and or any PACE Charges levied against the Property, including, but not limited to, foreclosure actions, breach of contract actions and/or any other suit on the debt.

  • With respect to each Effective Project, the parties hereto hereby agree that the related Borrower may prepay the Loan and the related PACE Charge(s) at any time in whole or in part.

  • In addition, the City shall deposit payments received with respect to the PACE Charges into an account for the benefit of the Administrator, its trustee, successors, or its permitted assignees, no later than fifteen (15) Business Days after the last day of the month in which the amount is collected and will simultaneously provide a collection report to the Administrator detailing actual collections with respect to such Loan to the Administrator.