Prorating of Taxes and Assessments. All real property ad valorem taxes and general assessments applicable to the Property shall be prorated as of the Closing Date between Seller and Purchaser, said proration to be based upon the most recently available tax or general assessment rate and valuation with respect to the Property at the November discounted amount. There shall not be any reprorations after Closing. All past due real estate taxes, and special assessments which have been levied or certified prior to Closing shall be paid in full by Seller.
Prorating of Taxes and Assessments. All real property ad valorem taxes and general assessments applicable to the Property ("Taxes") shall be prorated as of the Closing Date between Seller and Purchaser, said proration to be based upon the most recently available Tax rate and valuation with respect to the Property; provided, however, that upon the issuance of the actual Tax statement or bxxx for the year of the Closing, Purchaser and Seller shall promptly make such reprorations as may be necessary to ensure that the actual amount of such Taxes for the year of Closing shall be prorated between Purchaser and Seller as of the Closing Date, said agreement to survive Closing hereunder and shall not merge into the Deed. All special assessments which have been levied or certified prior to Closing shall be paid in full by Seller. It is anticipated that the Property will be free and clear of any tenancies as of the Closing Date; provided, however if Purchaser elects to take title subject to any leases, then rental income (including base/annual rent, common area maintenance charges and additional rent) and prepaid rents shall be prorated as of the Closing Date and security deposits shall be delivered to Purchaser. Insurance, payments under service contracts accepted by Purchaser and utilities shall be prorated as of the Closing Date and all Taxes for prior years shall be paid by Seller. No later than Closing, Seller shall pay all leasing commissions due or payable to any party relative to any lease at the Property, whether or not the due date for such payment is subsequent to Closing. Seller's Initials: Purchaser's Initials:
Prorating of Taxes and Assessments. Developer shall pay all taxes, assessments and charges applicable to the Fire Station Site for all years prior to the year of Closing. At Closing, Developer shall pay to City, Xxxxxxxxx’s pro rata share for the year of Closing (i.e., from January 1 through but not including the actual day of Closing) of all taxes, assessments and charges as determined by the applicable governmental authorities.
Prorating of Taxes and Assessments. Rail Company shall pay all taxes, assessments, and charges applicable to the Cargo Road Ramp Property, 528 Ramp Property and the Easement Parcels, if any, for all years through the Closing Date.
