Xxxxxxxxx Xxxx. Corporate Center (17) Access; Utilities; Separate Tax Lots Certain tax lots in which portions of the Mortgaged Property are located also include property which is not owned by the Mortgagor. The Mortgagor is required under the loan documents to cause the applicable taxing authority to create separate tax lots for the applicable condominium units. The loan documents require the Mortgagor to deposit tax reserves based on estimated taxes for the entire tax lots, including the units which are not owned by the Mortgagor, until such time as such non-owned units are separately assessed for real estate taxes.
Appears in 4 contracts
Samples: Mortgage Loan Purchase Agreement (Morgan Stanley Capital I Trust 2016-Ubs9), Mortgage Loan Purchase Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2016-C28), Mortgage Loan Purchase Agreement (Bank of America Merrill Lynch Commercial Mortgage Trust 2016-Ubs10)
