Common use of Property Taxes and Assessments Clause in Contracts

Property Taxes and Assessments. General property taxes that have been or will be assessed against any tax parcel(s) that comprise(s) or include(s) any part of the Property and any special assessments that have been or will be assessed against any such tax parcel(s) and are or will be payable to the county, a municipality or any special district existing pursuant to state law (collectively, “Taxes”) shall be prorated to the date of Closing on a calendar year basis. Seller shall pay the Taxes and/or Estimated Taxes attributed to the period up to and including the day of Closing. Buyer shall pay all Taxes attributed to the period after Closing to the extent attributed to the Property. With respect to any unpaid Taxes that are ascertainable and payable at the time of Closing, the Closing Agent shall collect from each party their respective shares of such Taxes, to be paid directly to the appropriate tax collection office. If the Taxes for the calendar year in which the Closing occurs are not ascertainable and payable at the time of Closing, such Taxes shall be estimated based on the amount last billed for a calendar year (“Estimated Taxes”). Seller’s share of the Estimated Taxes, to the extent attributed to the Property, shall be paid via credit against the sums due from Buyer at Closing; provided, however, if this sale involves a tax parcel split, Seller may elect to have the Estimated Taxes paid pursuant to an escrow arrangement approved by Seller. If Seller so elects then, in lieu of a credit to Buyer at Closing, the Closing Agent shall collect from Seller and Buyer at Closing their respective shares of the Estimated Taxes, to be held in escrow and applied towards payment of the Taxes when billed after Closing. In any event, Buyer shall then pay all Taxes when billed after Closing (to the extent attributed to the Property and to the extent not paid via escrow) and any shortage or surplus with respect to the estimated amount credited or paid by Seller at Closing shall be paid or retained by or refunded to Buyer (to the extent attributed to the Property). If this sale involves a tax parcel split, the extent to which any Taxes are attributed to the Property shall be based on a split calculation provided by the appropriate property tax official or, if an official split calculation is not available, based on an estimated split calculation using available assessment data. If the billing of any Taxes after Closing includes portions attributed to the Property and other real estate, Buyer shall cooperate with the owner(s) of such other real estate to facilitate timely payment of the balance due and Buyer shall pay the portion attributed to the Property.

Property Taxes and Assessments. General property taxes and special assessments, if any, that have been or will be assessed against any tax parcel(s) that comprise(s) or include(s) any part of the Property for the calendar year in which the Closing occurs (and any special assessments that have been or will be assessed against any such tax parcel(sprior year) and that are or will be payable to the county, a municipality or any special district existing pursuant to state law (collectively, “Taxes”) shall be prorated to the date of Closing on a calendar year basis. Seller shall pay the Taxes and/or Estimated Taxes attributed to the period up to and including the day of Closing. Buyer shall pay all Taxes attributed to the period after Closing to the extent attributed to the Property. With respect to any unpaid Taxes that are ascertainable and payable at the time of Closing, Seller’s share of such Taxes (and, if this sale involves a tax parcel split, Buyer’s share of such Taxes to the extent attributed to the Property) shall be collected by the Closing Agent shall collect from each the applicable party their respective shares of such Taxes, to be and paid directly to the appropriate tax collection office. If For purposes of this Section, the amount of any Taxes for the calendar year in which the Closing occurs that are not ascertainable and payable at the time of Closing, such Taxes Closing shall be estimated based on the amount last billed for a calendar year (“Estimated Taxes”). Seller’s share of the Estimated Taxes, to the extent attributed to the Property, shall be paid via credit against the sums due from Buyer at Closing; provided, however, if this sale involves a tax parcel split, Seller may elect to have the Estimated Taxes paid pursuant to an escrow arrangement approved by Seller. If Seller so elects then, in lieu of a credit to Buyer at Closing, the Closing Agent shall collect from Seller and Buyer at Closing their respective shares of the Estimated Taxes, to be held in escrow and applied towards payment of the Taxes when billed after Closing. In any event, Buyer shall then pay all Taxes when billed after Closing (to the extent attributed to the Property and to the extent not paid via escrow) and any shortage or surplus with respect to the estimated amount credited or paid by Seller at Closing shall be paid or retained by or refunded to Buyer (to the extent attributed to the Property). If this sale involves a tax parcel split, the extent to which any Taxes are attributed to the Property shall be based on a split calculation provided by the appropriate property tax official or, if an official split calculation is not available, based on an estimated split calculation using available assessment data. If the billing of any Taxes after Closing includes portions attributed to the Property and other real estate, Buyer shall cooperate with the owner(s) of such other real estate to facilitate timely payment of the balance due and Buyer shall pay the portion attributed to the Property.

Property Taxes and Assessments. General Tenant shall pay, before they become delinquent, any and all property taxes that have been or will be assessed against any tax parcel(s) that comprise(s) or include(s) any part of the Property assessments, and any special assessments that have been other governmental charges, fees or will be assessed against any such tax parcel(s) and are or will be payable to the county, a municipality or any special district existing pursuant to state law expenses (collectively, “the "Taxes”) shall be prorated to "), levied or assessed on any improvements on the date of Closing on a calendar year basis. Seller shall pay the Taxes and/or Estimated Taxes attributed to the period up to and including the day of Closing. Buyer shall pay all Taxes attributed to the period after Closing to the extent attributed to the Property. With respect to any unpaid Taxes that are ascertainable and payable at the time of ClosingDemised Premises, the Closing Agent personal property and fixtures on the Demised Premises, and, if applicable, upon the leasehold estate of Tenant created hereby. Upon the request of Landlord, Tenant shall collect from each party their respective shares of time to time furnish to Landlord "paid receipts" or other written evidence that all such Taxestaxes have been paid by Tenant. In the event Tenant shall fail to pay any such taxes, assessments, or charges prior to delinquency, Landlord shall have the right to pay (but not the obligation) or may cause all taxes, assessments, or charges to be paid directly and the reasonable costs thereof expended by Landlord plus interest thereon as provided in Section 39 of this Lease shall be paid by Tenant on demand. Subject to the appropriate payment of any outstanding Taxes, Tenant may protest, appeal or institute other formal proceedings to effect a reduction or abatement of real estate taxes and assessments with respect to real estate taxes and assessments levied against the improvements on the Demised Premises and/or the Tenant's leasehold interest in the Lease for any tax collection officefiscal year that ends after the Commencement Date of this Lease. Such protest, appeal or other proceedings may be conducted only in the name of Tenant. To this end and at Tenant's expense, Tenant shall give Landlord written notice of any such protest or appeal and resolution thereof. Notwithstanding the foregoing, Tenant shall not contest the determination that the buildings and/or improvements are subject to taxation. If a final (non-appealable) determination is rendered by DCAD or a court of appropriate and competent jurisdiction that any such buildings or other improvements are not subject to property taxation, the Taxes rent (as the same may be adjusted) for the calendar year in which the Closing occurs are not ascertainable and payable at the time of Closing, such Taxes final determination becomes effective shall be estimated based on the increased by an amount last billed for a calendar year (“Estimated Taxes”). Seller’s share of the Estimated Taxes, equal to the extent attributed property tax revenue from such buildings and improvements that Tenant would have paid to the PropertyTown of Addison, Texas in that year but for such final determination (and such initial increased amount shall be paid via credit against the sums due from Buyer at Closingto Landlord on or before December 31 of such year, unless otherwise agreed to by Landlord); provided, however, if this sale involves a tax parcel split, Seller may elect to have the Estimated Taxes paid pursuant to an escrow arrangement approved by Seller. If Seller so elects then, in lieu of a credit to Buyer at Closingthereafter, the Closing Agent rent (as the same may be adjusted) as so increased shall collect from Seller and Buyer at Closing their respective shares of the Estimated Taxescontinue, subject to be held adjustment as set forth in escrow and applied towards payment of the Taxes when billed after Closing. In any event, Buyer shall then pay all Taxes when billed after Closing (to the extent attributed to the Property and to the extent not paid via escrow) and any shortage or surplus with respect to the estimated amount credited or paid by Seller at Closing shall be paid or retained by or refunded to Buyer (to the extent attributed to the Property). If this sale involves a tax parcel split, the extent to which any Taxes are attributed to the Property shall be based on a split calculation provided by the appropriate property tax official or, if an official split calculation is not available, based on an estimated split calculation using available assessment data. If the billing of any Taxes after Closing includes portions attributed to the Property and other real estate, Buyer shall cooperate with the owner(s) of such other real estate to facilitate timely payment of the balance due and Buyer shall pay the portion attributed to the PropertyLease.

Property Taxes and Assessments. General “Taxes” refers to ad valorem property taxes and special assessments that have been or will be are assessed against any and attributable to the existing tax parcel(s) that comprise(s) or include(s) include any part of the Property and any special assessments that have been or will be assessed against any such tax parcel(s) related fees, penalties and interest. Any Taxes which are or will be payable to the county, a municipality or any special district existing pursuant to state law (collectively, “Taxes”) shall be prorated to the date of Closing on a calendar year basis. Seller shall pay the Taxes and/or Estimated Taxes attributed to the period up to due and including the day of Closing. Buyer shall pay all Taxes attributed to the period after Closing to the extent attributed to the Property. With respect to any unpaid Taxes that are ascertainable and payable at the time of Closing, the Closing Agent shall collect be withheld from each party their respective shares of such Taxes, to be Seller’s proceeds at Closing and paid directly to the appropriate tax collection office. If the The 2016 Taxes for the calendar year to become due in which the Closing occurs are not ascertainable and payable at the time of Closing, such Taxes 2017 shall be estimated based on 100% of the amount last billed for a calendar year (“Estimated Taxes”). Seller’s share of and the Estimated Taxes, to the extent attributed to the Property, amount thus estimated shall be paid by Seller at or prior to Closing pursuant to one of the following methods as elected by Seller in its sole discretion: (a) to Buyer via credit against the sums due from Buyer at Closing; provided, however, if this sale involves a Purchase Price (subject to any applicable tax parcel split, Seller may elect ); or (b) to have the Estimated Taxes paid Closing Agent pursuant to an escrow arrangement approved by Seller. If Seller so elects then, in lieu agreement providing for the application of a credit to Buyer at Closing, escrow funds towards the Closing Agent shall collect from Seller and Buyer at Closing their respective shares of the Estimated Taxes, to be held in escrow and applied towards payment of the 2016 Taxes when billed after Closing; or (c) directly to the appropriate tax collection office as an estimated prepayment of the 2016 Taxes. In any event, Buyer shall then pay all Taxes when billed which become due after Closing (to the extent attributed attributable to the Property (and to the extent not paid via escrow) escrow or estimated prepayment as described above). As between Buyer and Seller, the 2016 Taxes shall not be subject to further settlement or adjustment after Closing. When the 2016 Taxes are billed after Closing, any shortage or surplus with respect to the estimated amount credited or paid by Seller at Closing shall be paid or retained by or refunded to Buyer (to the extent attributed attributable to the Property). If this sale the conveyance of the Property involves a tax parcel split, the extent to which any Taxes are attributed to the Property such credit at Closing and/or payment or refund after Closing shall be allocated between the newly-created parcels based on a parcel split calculation provided by the appropriate property tax official (or, if an official a parcel split calculation is not availableprovided by such tax official, based on an estimated parcel split calculation using available assessment data). If the billing of any Taxes are billed after Closing includes portions attributed to in a manner that does not reflect the Property and other real estateparcel split, Buyer shall cooperate with the other owner(s) of such other real estate land from the same parent parcel to facilitate the timely payment of such Taxes in accordance with this Agreement. If the balance due and Buyer Property includes any tract(s) affected by the Xxxxxxxxxx Drainage & Levee District Additional Assessments for Pump Project-2013 (recorded in Xxxxxx County as Document Number 1357177) and/or the Xxxx Xxxxxxxx Xxxxxxxx & Xxxxx Xxxxxxxx Additional Assessments for Pump Project-2013 (recorded in Xxxxxx County as Document Number 1357179), Seller shall pay the portion attributed entire remaining balance due with respect to the Propertysuch additional assessments at or prior to Closing notwithstanding any other provision.

Property Taxes and Assessments. General property taxes that have been or will be assessed against any tax parcel(s) that comprise(s) or include(s) any part of the Property and any special assessments that have been or will be assessed against any such tax parcel(s) and are or will be payable to the county, a municipality or any special district existing pursuant to state law (collectively, “Taxes”) shall be prorated to the date of Closing on a calendar year basis. Seller shall pay the Taxes and/or Estimated Taxes attributed to the period up to and including the day of Closing. Buyer shall pay all Taxes attributed to the period after Closing to the extent attributed to the Property. With respect to any unpaid Taxes that are ascertainable and payable at the time of Closing, the Closing Agent shall collect from each party their respective shares of such Taxes, to be paid directly to the appropriate tax collection office. If the Taxes for the calendar year in which the Closing occurs are not ascertainable and payable at the time of Closing, such Taxes shall be estimated based on the amount last billed for a calendar year (“Estimated Taxes”). Seller’s share of the Estimated Taxes, to the extent attributed to the Property, shall be paid via credit against the sums due from Buyer at Closing; provided, however, if this sale involves a tax parcel split, Seller may elect to have the Estimated Taxes paid pursuant to an escrow arrangement approved by Seller. If Seller so elects then, in lieu of a credit to Buyer at Closing, the Closing Agent shall collect from Seller and Buyer at Closing their respective shares of the Estimated Taxes, to be held in escrow and applied towards payment of the Taxes when billed after Closing. In any event, Buyer Xxxxx shall then pay all Taxes when billed after Closing (to the extent attributed to the Property and to the extent not paid via escrow) and any shortage or surplus with respect to the estimated amount credited or paid by Seller at Closing shall be paid or retained by or refunded to Buyer (to the extent attributed to the Property). If this sale involves a tax parcel split, the extent to which any Taxes are attributed to the Property shall be based on a split calculation provided by the appropriate property tax official or, if an official split calculation is not available, based on an estimated split calculation using available assessment data. If the billing of any Taxes after Closing includes portions attributed to the Property and other real estate, Buyer shall cooperate with the owner(s) of such other real estate to facilitate timely payment of the balance due and Buyer shall pay the portion attributed to the Property.

Property Taxes and Assessments. General property taxes that have been or will All Property Taxes shall be assessed against any tax parcel(s) that comprise(s) or include(s) any part apportioned on the basis of the Property and any special assessments that have been or will be tax period for which assessed against any and, unless otherwise specified herein, such tax parcel(s) and are or will be payable to the county, a municipality or any special district existing pursuant to state law (collectively, “Taxes”) apportionment shall be prorated to the date of Closing on a calendar year basis. If the Closing Date shall occur either before an assessment is made or a tax rate is fixed for the tax period in which the Closing Date occurs (the "TAX YEAR"), the apportionment of such Property Taxes based thereon shall be made at the Closing Date by applying the tax rate for the preceding tax year to the latest assessed valuation, but, promptly after the assessment and/or tax rate for the Tax Year are fixed, the apportionment thereof shall be recalculated. If, after the Closing, the assessed valuation for the Tax Year is increased or reduced from the prior tax year, then the apportionment of such real estate taxes shall be recalculated, and Buyer or Seller, as the case may be shall make an appropriate payment to the other (based on such recalculation) within ten (10) Business Days of Buyer's and Seller's receipt of such new assessment and/or tax rate. Any Property Tax refund received by Buyer attributable to the Tax Year shall be prorated between Buyer and Seller. Seller shall pay all Assessments for the Taxes and/or Estimated Taxes attributed period prior to the period up to Apportionment Date and including the day of Closing. Buyer shall pay all Taxes attributed Assessments for the period subsequent to the period after Closing to the extent attributed to the PropertyApportionment Date. With respect to Assessments shall mean all levies or charges of every kind and nature, including, but not limited to, assessments for: (i) public improvements or benefits; (ii) for any unpaid Taxes that are ascertainable and payable at the time of Closing, the Closing Agent shall collect from each party their respective shares of such Taxes, to be paid directly to the appropriate tax collection office. If the Taxes easement or agreement maintained for the calendar year in which the Closing occurs are not ascertainable and payable at the time of Closing, such Taxes shall be estimated based on the amount last billed for a calendar year (“Estimated Taxes”). Seller’s share benefit of the Estimated TaxesParcel; and (iii) association fees, to the extent attributed to the Propertypermits, shall be paid via credit against the sums due from Buyer at Closing; providedinspection and license fees, howevergeneral or special assessments, if this sale involves a water, sewer and other utility levies and charges, ground rents or other rents, excise tax parcel splitlevies, Seller may elect to have the Estimated Taxes paid pursuant to an escrow arrangement approved by Seller. If Seller so elects thenand all other governmental charges of every kind and nature, whether general or special, ordinary or extraordinary, or foreseen or unforeseen, in lieu of a credit to Buyer at Closing, the Closing Agent shall collect from Seller and Buyer at Closing their respective shares of the Estimated Taxes, to be held in escrow and applied towards payment of the Taxes when billed after Closing. In any event, Buyer shall then pay all Taxes when billed after Closing (to the extent attributed to the Property and to the extent not paid via escrow) and any shortage or surplus with respect to the estimated amount credited or paid by Seller at Closing shall be paid or retained by or refunded to Buyer (to the extent attributed to the Property). If this sale involves a tax parcel split, the extent to which any Taxes are attributed to the Property shall be based on a split calculation provided by the appropriate property tax official or, if an official split calculation is not available, based on an estimated split calculation using available assessment data. If the billing of any Taxes after Closing includes portions attributed to the Property and other real estate, Buyer shall cooperate connection with the owner(s) of such other real estate to facilitate timely payment of the balance due and Buyer shall pay the portion attributed to the PropertyParcel.

Property Taxes and Assessments. General property taxes and special assessments, if any, that have been or will be assessed against any tax parcel(s) that comprise(s) or include(s) any part of the Property for the calendar year in which the Closing occurs (and any special assessments that have been or will be assessed against any such tax parcel(sprior year) and that are or will be payable to the county, a municipality or any special district existing pursuant to state law (collectively, “Taxes”) shall be prorated to the date of Closing on a calendar year basis. Seller shall pay the Taxes and/or Estimated Taxes attributed to the period up to and including the day of Closing. Buyer shall pay all Taxes attributed to the period after Closing to the extent attributed to the Property. With respect to any unpaid Taxes that are ascertainable and payable at the time of Closing, Seller’s share of such Taxes (and, if this sale involves a tax parcel split, Xxxxx’s share of such Taxes to the extent attributed to the Property) shall be collected by the Closing Agent shall collect from each the applicable party their respective shares of such Taxes, to be and paid directly to the appropriate tax collection office. If For purposes of this Section, the amount of any Taxes for the calendar year in which the Closing occurs that are not ascertainable and payable at the time of Closing, such Taxes Closing shall be estimated based on the amount last billed for a calendar year (“Estimated Taxes”). Seller’s share of the Estimated Taxes, to the extent attributed to the Property, shall be paid via credit against the sums due from Buyer at Closing; provided, however, if this sale involves a tax parcel split, Seller may elect to have the Estimated Taxes paid pursuant to an escrow arrangement approved by Seller. If Seller so elects then, in lieu of a credit to Buyer at Closing, the Closing Agent shall collect from Seller and Buyer at Closing their respective shares of the Estimated Taxes, to be held in escrow and applied towards payment of the Taxes when billed after Closing. In any event, Buyer Xxxxx shall then pay all Taxes when billed after Closing (to the extent attributed to the Property and to the extent not paid via escrow) and any shortage or surplus with respect to the estimated amount credited or paid by Seller at Closing shall be paid or retained by or refunded to Buyer (to the extent attributed to the Property). If this sale involves a tax parcel split, the extent to which any Taxes are attributed to the Property shall be based on a split calculation provided by the appropriate property tax official or, if an official split calculation is not available, based on an estimated split calculation using available assessment data. If the billing of any Taxes after Closing includes portions attributed to the Property and other real estate, Buyer shall cooperate with the owner(s) of such other real estate to facilitate timely payment of the balance due and Buyer shall pay the portion attributed to the Property.

Property Taxes and Assessments. General property taxes that have been or will All Property Taxes shall be assessed against any tax parcel(s) that comprise(s) or include(s) any part apportioned on the basis of the Property and any special assessments that have been or will be tax period for which assessed against any and, unless otherwise specified herein, such tax parcel(s) and are or will be payable to the county, a municipality or any special district existing pursuant to state law (collectively, “Taxes”) apportionment shall be prorated to the date of Closing on a calendar year basis. Seller If the Closing Date shall occur either before an assessment is made or a tax rate is fixed for the tax period in which the Closing Date occurs (the "TAX YEAR"), the apportionment of such Property Taxes based thereon shall be made at the Closing Date by applying the tax rate for the preceding tax year to the latest assessed valuation, but, promptly after the assessment and/or tax rate for the Tax Year are fixed, the apportionment thereof shall be recalculated. If, after the Closing, the assessed valuation for the Tax Year is increased or reduced from the prior tax year, then the apportionment of such real estate taxes shall be recalculated, and Buyer or Sellers, as the case may be shall make an appropriate payment to the other (based on such recalculation) within ten (10) Business Days of Buyer's and Sellers' receipt of such new assessment and/or tax rate. Any Property Tax refund received by Buyer attributable to the Tax Year shall be prorated between Buyer and Sellers. Sellers shall pay all Assessments for the Taxes and/or Estimated Taxes attributed period prior to the period up to Apportionment Date and including the day of Closing. Buyer shall pay all Taxes attributed Assessments for the period subsequent to the period after Closing to the extent attributed to the PropertyApportionment Date. With respect to Assessments shall mean all levies or charges of every kind and nature, including, but not limited to, assessments for: (i) public improvements or benefits; (ii) for any unpaid Taxes that are ascertainable and payable at the time of Closing, the Closing Agent shall collect from each party their respective shares of such Taxes, to be paid directly to the appropriate tax collection office. If the Taxes easement or agreement maintained for the calendar year in which the Closing occurs are not ascertainable and payable at the time of Closing, such Taxes shall be estimated based on the amount last billed for a calendar year (“Estimated Taxes”). Seller’s share benefit of the Estimated TaxesParcel; and (iii) association fees, to the extent attributed to the Propertypermits, shall be paid via credit against the sums due from Buyer at Closing; providedinspection and license fees, howevergeneral or special assessments, if this sale involves a water, sewer and other utility levies and charges, ground rents or other rents, excise tax parcel splitlevies, Seller may elect to have the Estimated Taxes paid pursuant to an escrow arrangement approved by Seller. If Seller so elects thenand all other governmental charges of every kind and nature, whether general or special, ordinary or extraordinary, or foreseen or unforeseen, in lieu of a credit to Buyer at Closing, the Closing Agent shall collect from Seller and Buyer at Closing their respective shares of the Estimated Taxes, to be held in escrow and applied towards payment of the Taxes when billed after Closing. In any event, Buyer shall then pay all Taxes when billed after Closing (to the extent attributed to the Property and to the extent not paid via escrow) and any shortage or surplus with respect to the estimated amount credited or paid by Seller at Closing shall be paid or retained by or refunded to Buyer (to the extent attributed to the Property). If this sale involves a tax parcel split, the extent to which any Taxes are attributed to the Property shall be based on a split calculation provided by the appropriate property tax official or, if an official split calculation is not available, based on an estimated split calculation using available assessment data. If the billing of any Taxes after Closing includes portions attributed to the Property and other real estate, Buyer shall cooperate connection with the owner(s) of such other real estate to facilitate timely payment of the balance due and Buyer shall pay the portion attributed to the PropertyParcel.