Annual Service Charge. (a) In consideration of the Township granting the Entity the tax exemption set forth in Section 4.1 of this Agreement, the Entity shall make payment to the Township for municipal services, as provided in the Law, by payment to the Township of the Annual Service Charge pursuant to the schedule set forth in Section 4.2(d) below. (b) The Annual Service Charge shall first begin to accrue on the Annual Service Charge Start Date. In the event the Entity fails to timely pay the Annual Service Charge, the amount unpaid shall bear the highest rate of interest permitted in the case of unpaid taxes or tax liens on the land until paid, and the Township shall have the same rights and remedies to collect such charges as provided by law for collection of general municipal taxes. (c) The Annual Service Charge shall not be in lieu of sewer charges, water charges, connection fees, or other special assessments imposed in accordance with applicable law.
Appears in 5 contracts
Samples: Financial Agreement, Financial Agreement, Financial Agreement
