Adjustments on Closing. 49. In the event the Municipality requires the installation of air conditioning in the subject Dwelling Unit, the Purchaser covenants and agrees to pay the cost therefore as an adjustment on the Closing Date, unless the provision of such air conditioning is included on a Purchaser’s Extra sheet, such cost to be absolutely determined by Statutory Declaration on the part of the Vendor.
Adjustments on Closing. (a) The balance due on the Occupancy Date shall be adjusted on the Occupancy Date (or adjusted on the Unit Transfer Date if so required by the Vendor) as to all prepaid and accrued expenses or charges and as to other items required by the terms of this Agreement which shall include, without limiting the generality of the foregoing, the following:
Adjustments on Closing. The Purchase Price shall be adjusted as of the Closing by the following: the enrolment fee required pursuant to the Ontario New Home Warranty Program (Tarion) and costs or fees paid or payable by the Vendor with respect to the issuance of any security to or with the Program or any excess deposit insurance, the Vendor may elect to obtain; all additional or increased charges and levies imposed or assessed in connection with the development of the Land by any municipal, regional or other governmental authorities at the time any increase after July 1, 2017 in any levy, payment contribution, charge, fee or assessment, including without limitation, any parks levies, development charges, education development charges, sewer impost charges, service connection charges, cash in lieu of parkland dedication payments, public art contributions and/or impost charges (collectively, the “Existing Levy”) required, assessed charged or imposed as of that date by any tier of municipal government, a transit authority, a public or separate school board or any other authority having jurisdiction under the Development Charges, the Education Act, the Planning Act and any other existing or new legislation, bylaw and/or policy of a similar nature and/or if any of the aforesaid authorities require, assess, charge, fee or assessment (collectively referred to as the “New Levy”) under the Development Charges Act, the Education Act, the Planning Act and any other existing or new legislation, bylaw and/or policy of a similar nature after July 1, 2017 then, the Purchaser shall pay the increase to the Existing Levy and/or amount of the New Levy, as the case may be, as an adjustment on the Unit Transfer Date plus Applicable Taxes eligible thereon. If the increase to the Existing Levy and not against the whole or any part of the Unit separately, then the Vendor shall be entitled to a reimbursement for the foregoing. realty taxes (including local improvement rates) on the Dwelling, and at the Vendor's option, said realty taxes shall be estimated by the Vendor for the calendar year in which this transaction is completed and all or part of the next ensuing year, as determined by the Vendor, in its sole discretion, and shall be adjusted as if such sum had been paid by the Vendor notwithstanding that the same may not by the Closing Date have been levied or paid, subject, however, to readjustment upon the actual amount of said realty taxes being ascertained, and the Purchaser shall forthwith pay to ...
Adjustments on Closing
