Common use of Property Taxes and Assessments Clause in Contracts

Property Taxes and Assessments. “Taxes” refers to general property taxes and special assessments, if any, that have been or will be assessed against the existing tax parcel(s) that include any part of the Property. “Seller’s Taxes” refers to all Taxes assessed for the calendar year 2020, including Taxes assessed for 2020 and due in 2021 (“2020 Taxes”), and any unpaid Taxes and/or penalties for any earlier period. Any unpaid Seller’s Taxes, to the extent ascertainable and payable at the time of Closing, shall be withheld from Seller’s proceeds at Closing and paid by the Closing Agent directly to the appropriate tax collection office. If not ascertainable and payable at the time of Closing, the 2020 Taxes shall be estimated based on 100% of the amount last billed for a calendar year and the amount thus estimated (to the extent attributed to the Property) shall be paid via credit against the sums due from Buyer at Closing, with no further settlement or adjustment after Closing; provided, however, if this sale involves a tax parcel split then, in lieu of a credit to Buyer at Closing, Seller may elect to deliver to the Closing Agent the entire amount of the estimated 2020 Taxes (including but not limited to the portion attributed to the Property) to be: (a) held in escrow and applied towards payment of the 2020 Taxes when billed after closing; or (b) paid directly to the appropriate tax collection office as an estimated prepayment of the 2020 Taxes. In any event, Xxxxx shall then pay all Taxes when due after Closing (to the extent attributed to the Property and not paid via escrow or direct prepayment) and any shortage or surplus with respect to the estimated amount credited or paid 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 any other real estate in addition to the Property, Buyer shall cooperate with the owner(s) of such other real estate to facilitate timely payment of any balance due and Buyer shall pay the portion attributed to the Property.

Property Taxes and Assessments. “Taxes” refers to general property Property taxes and special assessments, if any, assessments that have been are or will be assessed against the existing any tax parcel(s) parcel that include includes any part of the Property. “Seller’s Taxes” refers to all Taxes assessed for the calendar year 2020, including Taxes assessed for 2020 and due in 2021 Property (“2020 Taxes”), and any unpaid Taxes and/or penalties for any earlier period. Any unpaid Seller’s Taxes, to the extent ascertainable and payable at the time of Closing, ) shall be withheld from Seller’s proceeds at Closing and paid by the Closing Agent directly to the appropriate tax collection office. If not ascertainable county treasurer to the extent any such Taxes are or were due and payable in 2020 (or earlier) and are unpaid at the time of Closing, the . The 2020 Taxes due in 2021 shall be estimated based on 100% of the amount last 2019 taxes billed for a calendar year in 2020 and the amount thus estimated (estimated, to the extent attributed to the Property) , shall be paid by Seller via credit against the sums due from Buyer at Closing, with no further settlement or adjustment after Closing; provided, however, if this sale involves a tax parcel split then, in lieu of a credit to Buyer at Closingsplit, Seller may elect instead to deliver the estimated 2020 Taxes to the Closing Agent the entire amount of the estimated 2020 Taxes (including but not limited to the portion attributed to the Property) to be: (ai) held in escrow and applied towards payment of the 2020 Taxes when billed after closingClosing; or (bii) paid directly to the appropriate tax collection office county treasurer as an estimated prepayment of the 2020 Taxes. In any event, Xxxxx Buyer shall then pay all Taxes when due after Closing (to the extent attributed to the Property and not paid via escrow or direct prepayment) and any shortage or surplus with respect to the estimated amount credited or paid 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 any the Property and other real estate in addition to the Propertyestate, Buyer shall cooperate with the owner(s) of such other real estate to facilitate timely payment of any the balance due and Buyer shall pay the portion attributed to the Property. AS BETWEEN BUYER AND SELLER, ANY ESTIMATED CREDIT OR PAYMENT AT CLOSING SHALL NOT BE SUBJECT TO ANY FURTHER SETTLEMENT OR ADJUSTMENT AFTER CLOSING EVEN THOUGH THE AMOUNT ESTIMATED AT CLOSING MAY VARY FROM THE ACTUAL AMOUNT DUE ONCE THE TAX RATES AND/OR ASSESSMENTS ARE FINALIZED. SELLER SHALL HAVE NO OBLIGATION WITH RESPECT TO ANY TAXES BILLED AFTER CLOSING.

Property Taxes and Assessments. “Taxes” refers to all general property taxes and special assessments, if any, that have been or will be assessed against the any existing tax parcel(s) that include include(s) any part of the Property. “Seller’s Taxes” refers to all Taxes assessed for the calendar year 2020, 2020 (including Taxes assessed general real estate taxes for 2020 and due in 2021 (“2020 Taxes”), 2021) and any unpaid Taxes and/or penalties for any earlier period, together with any late penalties assessed for any such Taxes. Any unpaid Seller’s Taxes, to the extent ascertainable and payable at the time of Closing, Taxes shall be withheld from Seller’s proceeds at Closing and paid by the Closing Agent directly to the appropriate tax collection office. If county treasurer; provided, however, any portion of Seller’s Taxes that is not ascertainable and payable at the time of Closing, the 2020 Taxes Closing shall be estimated based on 100% of the amount last billed for a calendar year and the amount thus estimated (to the extent attributed to the Property, after adjusting for any tax parcel split) shall be paid via credit against the sums due from Buyer at Closing, with no further settlement or adjustment after Closing; provided, however, if this sale involves a tax parcel split then, in lieu of a credit to . Buyer at Closing, Seller may elect to deliver to the Closing Agent the entire amount of the estimated 2020 Taxes (including but not limited to the portion attributed to the Property) to be: (a) held in escrow and applied towards payment of the 2020 Taxes when billed after closing; or (b) paid directly to the appropriate tax collection office as an estimated prepayment of the 2020 Taxes. In any event, Xxxxx shall then assume and pay all Taxes when due after Closing (to the extent attributed to the Property and not paid via escrow or direct prepayment) and any shortage or surplus with respect to the estimated amount credited or paid 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 any the Property and other real estate in addition to the Propertyestate, Buyer shall cooperate with the owner(s) of such other real estate to facilitate timely payment of any the balance due and Buyer shall pay the portion attributed to the Property.

Property Taxes and Assessments. “Taxes” refers to general property taxes and special assessments, if any, that have been or will be assessed against the existing tax parcel(s) that include any part of the Property. “Seller’s Taxes” refers to all Taxes assessed for the calendar year 2020, including Taxes assessed for 2020 and due in 2021 (“2020 Taxes”), and any unpaid Taxes and/or penalties for any earlier period. Any unpaid Seller’s Taxes, to the extent ascertainable and payable at the time of Closing, shall be withheld from Seller’s proceeds at Closing and paid by the Closing Agent directly to the appropriate tax collection office. If not ascertainable and payable at the time of Closing, the 2020 Taxes shall be estimated based on 100% of the amount last billed for a calendar year and the amount thus estimated (to the extent attributed to the Property) shall be paid via credit against the sums due from Buyer at Closing, with no further settlement or adjustment after Closing; provided, however, if this sale involves a tax parcel split then, in lieu of a credit to Buyer at Closing, Seller may elect to deliver to the Closing Agent the entire amount of the estimated 2020 Taxes (including but not limited to the portion attributed to the Property) to be: (a) held in escrow and applied towards payment of the 2020 Taxes when billed after closing; or (b) paid directly to the appropriate tax collection office as an estimated prepayment of the 2020 Taxes. In any event, Xxxxx Buyer shall then pay all Taxes when due after Closing (to the extent attributed to the Property and not paid via escrow or direct prepayment) and any shortage or surplus with respect to the estimated amount credited or paid 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 any other real estate in addition to the Property, Buyer shall cooperate with the owner(s) of such other real estate to facilitate timely payment of any balance due and Buyer shall pay the portion attributed to the Property.

Property Taxes and Assessments. “Taxes” refers to general to: (a) real property taxes and special assessments, if any, that have been or will be assessed against the existing tax parcel(s) that include any part of the Property; and (b) any personal property taxes that have been or will be assessed against any property included with this purchase. “Seller’s Taxes” refers to all Taxes assessed for and attributed to the calendar year 2020, including Taxes assessed for 2020 and due in 2021 (“2020 Taxes”), and any unpaid Taxes and/or penalties for any earlier period. Any unpaid Seller’s Taxes, to the extent ascertainable and payable at the time of Closing, shall be withheld from Seller’s proceeds at Closing and paid by the Closing Agent directly to the appropriate tax collection office. If not ascertainable and payable at the time of Closing, the 2020 Taxes shall be estimated based on 100% of the amount last billed for a calendar year and the amount thus estimated (to the extent attributed to the Property) shall be paid via credit against the sums due from Buyer at Closing, with no further settlement or adjustment after Closing; provided, however, if this sale involves a tax parcel split then, in lieu of a credit to Buyer at Closing, Seller may elect to deliver to the Closing Agent the entire amount of the estimated 2020 Taxes (including but not limited to the portion attributed to the Property) to be: (a) held in escrow and applied towards payment of the 2020 Taxes when billed after closing; or (b) paid directly to the appropriate tax collection office as an estimated prepayment of the 2020 Taxes. In any event, Xxxxx Buyer shall then pay all Taxes when due after Closing (to the extent attributed to the Property and not paid via escrow or direct prepayment) and any shortage or surplus with respect to the estimated amount credited or paid 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 any other real estate in addition to the Property, Buyer shall cooperate with the owner(s) of such other real estate to facilitate timely payment of any balance due and Buyer shall pay the portion attributed to the Property.

Property Taxes and Assessments. “Taxes” refers to general to: (a) real property taxes and special assessments, if any, that have been or will be assessed against the existing tax parcel(s) that include any part of the Property; and (b) any personal property taxes that have been or will be assessed against any property included with this purchase. “Seller’s Taxes” refers to all Taxes assessed for and attributed to the calendar year 2020, including Taxes assessed for 2020 and due in 2021 (“2020 Taxes”), and any unpaid Taxes and/or penalties for any earlier period. Any unpaid Seller’s Taxes, to the extent ascertainable and payable at the time of Closing, shall be withheld from Seller’s proceeds at Closing and paid by the Closing Agent directly to the appropriate tax collection office. If not ascertainable and payable at the time of Closing, the 2020 Taxes shall be estimated based on 100% of the amount last billed for a calendar year and the amount thus estimated (to the extent attributed to the Property) shall be paid via credit against the sums due from Buyer at Closing, with no further settlement or adjustment after Closing; provided, however, if this sale involves a tax parcel split then, in lieu of a credit to Buyer at Closing, Seller may elect to deliver to the Closing Agent the entire amount of the estimated 2020 Taxes (including but not limited to the portion attributed to the Property) to be: (a) held in escrow and applied towards payment of the 2020 Taxes when billed after closing; or (b) paid directly to the appropriate tax collection office as an estimated prepayment of the 2020 Taxes. In any event, Xxxxx shall then pay all Taxes when due after Closing (to the extent attributed to the Property and not paid via escrow or direct prepayment) and any shortage or surplus with respect to the estimated amount credited or paid 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 any other real estate in addition to the Property, Buyer shall cooperate with the owner(s) of such other real estate to facilitate timely payment of any balance due and Buyer shall pay the portion attributed to the Property.

Property Taxes and Assessments. “Taxes” refers to general property taxes and special assessments, if any, that have been are or will be assessed against the existing tax parcel(s) that include any part of the PropertyReal Estate. “Seller’s Taxes” refers to all Taxes assessed for the calendar year 2020, 2019 and any earlier period (including Taxes assessed for 2020 2019 and due in 2021 (“2020 Taxes”2020), and together with any unpaid Taxes and/or late penalties assessed for any earlier periodsuch Taxes. Any unpaid Seller’s Taxes, to the extent ascertainable and payable at the time of Closing, Taxes shall be withheld from Seller’s proceeds at Closing and paid by the Closing Agent directly to the appropriate tax collection office. If county treasurer; provided, however, any portion of Seller’s Taxes that is not ascertainable and payable at the time of Closing, the 2020 Taxes Closing shall be estimated based on 100% of the amount last billed for a calendar year and the amount thus estimated (to the extent attributed to the PropertyReal Estate, after adjusting for any tax parcel split) shall be paid via credit against the sums due from Buyer at Closing, with no further settlement or adjustment after Closing; provided, however, if this sale involves a tax parcel split then, in lieu of a credit to . Buyer at Closing, Seller may elect to deliver to the Closing Agent the entire amount of the estimated 2020 Taxes (including but not limited to the portion attributed to the Property) to be: (a) held in escrow shall assume and applied towards payment of the 2020 Taxes when billed after closing; or (b) paid directly to the appropriate tax collection office as an estimated prepayment of the 2020 Taxes. In any event, Xxxxx shall then pay all Taxes when due or becoming due after Closing (to the extent attributed to the Property and not paid via escrow or direct prepayment) and any shortage or surplus with respect to the estimated amount credited or paid at Closing shall be paid or retained by or refunded to Buyer (to the extent attributed to the Property)Real Estate. If this sale involves a tax parcel split, the extent to which any Taxes are attributed to the Property Real Estate 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, subject to Seller’s approval of any such estimated split calculation used for purposes of the Closing). If the billing of any Taxes after Closing includes portions attributed to any other real estate parcel(s) in addition to the PropertyReal Estate, Buyer shall cooperate with the owner(s) of such other real estate parcel(s) to facilitate timely payment of any balance due and Buyer shall pay the portion attributed to the PropertyReal Estate.