Assessment Agreement. The Owner and the City shall execute a minimum assessment agreement in the form attached hereto as Exhibit J, as of the date hereof (the “Assessment Agreement”). Owner shall cause the Assessment Agreement and an executed Assessor’s Certificate, in the form attached thereto, to be recorded against the Property.
Assessment Agreement. (a) Upon execution of this Agreement, the Redeveloper shall, with the Authority, execute an Assessment Agreement pursuant to Minnesota Statutes, Section 469.177, subdivision 8, specifying an assessor's minimum market value (the “Market Value”) for the Redevelopment Property and the Minimum Improvements constructed thereon. The amount of the minimum Market Value shall be $41,040,000 as of January 2, 2022, and each January 2 thereafter, notwithstanding the status of construction by such dates.
Assessment Agreement. During the term of this Agreement and the Minimum Improvements Loan Agreement, Redeveloper agrees that the Market Value of the Mall Property for real estate tax purposes shall be $110,000,000 beginning January 1, 2012, and increasing 2.5% per annum, and Redeveloper agrees not to appeal the Market Value of the Mall Property. Upon execution of this Agreement, Redeveloper and City will execute the Assessment Agreement, attached as Exhibit F. The Assessment Agreement must be recorded no later than June 30, 2012. Failure to record the Assessment Agreement by June 30, 2012 shall be a Redeveloper Event of Default under this Agreement.
Assessment Agreement. Developer and the EDA shall execute a minimum assessment agreement in the form attached hereto as Exhibit M, as of the date hereof (the “Assessment Agreement”), which shall establish a minimum market value, for purposes of ad valorem taxes, of $9,362,500 for the entire life of the TIF District, as more fully set forth on Exhibit M. Owner shall cause the Assessment Agreement and an executed Assessor’s Certificate, in the form attached thereto, to be recorded against the Property.
Assessment Agreement. The term "assessment agreement" means an agreement, whether part of a collective bargaining agreement or negotiated separately, to the extent the agreement provides for the funding of collectively bargained fringe-benefit obligations on other than a uniform worker-hour basis, regardless of the cargo handled or type of vessel or equipment used.
Assessment Agreement. (a) Pursuant to the provisions of Minnesota Statutes, Section 469.177, Subdivision 8, the Developer and the EDA agree to execute an Assessment Agreement in substantially the form attached hereto as Exhibit E. The Developer shall be responsible for obtaining the certification of the County Assessor to the Assessment Agreement and for the filing the Assessment Agreement against the Development Property. The Assessment Agreement shall specify the Assessor’s Minimum Market Value for the Development Property for calculation of real property taxes. Specifically, the Developer agrees to a minimum market value for the Development Property as of January 2, 2020, for taxes payable in the year 2021, of not less than $57,500,000 (such minimum market value is herein referred to as the “Assessor’s Minimum Market Value”).
Assessment Agreement. On or before closing on conveyance of the Development Property to the Developer, the Developer shall, with the Authority, execute an Assessment Agreement pursuant to MINNESOTA STATUTES, Section 469.177, subd. 8, specifying any assessor's minimum Market Value for the Development Property together with the Minimum Improvements. The amount of the minimum Market Value shall be no less than $6,200,000 as of January 2, 1998, notwithstanding any failure to complete construction of the Minimum Improvements by that date. The Assessment Agreement shall be substantially in the form attached hereto as Schedule C. Nothing in the Assessment Agreement shall limit the discretion of the assessor to assign a market value to the property in excess of such assessor's minimum Market Value nor prohibit the Developer from seeking through the exercise of legal or administrative remedies a reduction in such market value for property tax purposes, provided, however, that the Developer shall not seek a reduction of such market value below the assessor's minimum Market Value set forth in the Assessment Agreement in any year so long as such Assessment Agreement shall remain in effect. The Assessment Agreement shall remain in effect until the Maturity Date; provided that if at any time before the Maturity Date the Assessment Agreement is found to be terminated or unenforceable by any Tax Official or court of competent jurisdiction, the minimum market value described in this Section shall remain an obligation of the Developer (whether or not such value is binding on the County assessor), it being the intent of the parties that the obligation of the Developer to maintain, and not to seek reduction of, the minimum market value specified in this Section is an obligation under this Agreement as well as under the Assessment Agreement, and is enforceable by the Authority against the Developer, its successors and assigns in accordance with the terms of this Agreement.
Assessment Agreement. All students will receive Preliminary & HSC Assessment Booklets. The Booklets outline assessment details for each subject and the school’s policies and procedures associated with the assessment program. It is important that students are aware of these procedures and follow them carefully. Information regarding misadventure and being absent from assessment tasks for any reason is included in the assessment booklets. It is the student’s responsibility to ensure that they follow all the rules outlined in the Assessment policy. (A copy is available online).
Assessment Agreement. Simultaneously with the execution of this Agreement, the Developer and the City shall execute the Assessment Agreement pursuant to the provisions of Minnesota Statutes, Section 469.177, Subdivision 8, specifying the minimum market value for the Project (such minimum market value at the time applicable is herein referred to as the "Assessor's Minimum Market Value") and the Development Property for calculation of real property taxes. Specifically, the Developer shall agree to a market value for the Development Property and the Project which will result in a market value as of January 2, 2017 of not less than $925,000. Nothing in the Assessment Agreement shall limit the discretion of the Assessor to assign a market value to the property in excess of such Assessor's Minimum Market Value nor prohibit the Developer from seeking through the exercise of legal or administrative remedies a reduction in such market value for property tax purposes, provided however, that the Developer shall not seek a reduction of such market value below the Assessor's Minimum Market Value in any year so long as the Assessment Agreement shall remain in effect. The Assessment Agreement shall remain in effect for a period of ten (10) years. The Assessment Agreement shall be certified by the Assessor for the County as provided in Minnesota Statutes, Section 469.177, Subdivision 8, upon a finding by the Assessor that the Assessor's Minimum Market Value represents a reasonable estimate based upon the plans and specifications for the Project to be constructed on the Development Property and the market value previously assigned to the Development Property. Pursuant to Minnesota Statutes, Section 469.177, Subdivision 8, the Assessment Agreement shall be filed for record in the office of the county recorder or registrar of titles of Blue Earth County, and such filing shall constitute notice to any subsequent encumbrancer or purchaser of the Development Property (or part thereof), whether voluntary or involuntary, and such Assessment Agreement shall be binding and enforceable in its entirety against any such subsequent purchaser or encumbrancer, including the holder of any mortgage recorded against the Development Property.
Assessment Agreement. Prior to conveyance of the Development Property pursuant to Article III of this Agreement, the Developer and the City shall enter into an Assessment Agreement, substantially in the form of the Assessment Agreement contained in Schedule F of this Agreement. The Assessment Agreement shall establish a Minimum Market Value for the Development Property and the completed Minimum Improvements. ARTICLE VIII
