Common use of Assessment and Lien Clause in Contracts

Assessment and Lien. The terms of the special assessment and the special assessment lien shall be set forth in the Certificate of Xxxx and Lien of Special Assessment (the "Lien"), substantially in the form attached hereto as Exhibit [__], which shall have a payment schedule attached thereto. After the execution of this Agreement, Xxxxxx, acting on behalf of the County pursuant to the Ordinance, will Record the Lien against the Property. Promptly thereafter, Xxxxxx, acting on behalf of the County pursuant to the Ordinance, shall assign solely the County's right, title and interest in and to the Lien to Lender by Recording an Assignment of Special Assessment Lien, substantially in the form attached hereto as Exhibit [__]. Such assignment shall include only the County's right, title and interest in and to the Assessment Payments and the Lien, and the County shall retain all of its other rights and remedies, including any special powers of enforcement or collection to which the County, by virtue of its status as a political subdivision of the Commonwealth, is entitled or empowered to exercise under applicable laws of the Commonwealth. Upon such assignment, Xxxxxx shall be responsible, subject to and in accordance with the terms of this Agreement, for all billing, collection, enforcement and administrative duties in respect of each of the Loan, the Assessment Payments and the Lien. BORROWER HEREBY ACKNOWLEDGES AND AGREES THAT IT SHALL MAKE ALL PAYMENTS DUE IN RESPECT OF EACH OF THE LOAN, THE ASSESSMENT PAYMENTS AND THE LIEN TO LENDER, AND NOT TO THE COUNTY OR ADMINSTRATOR. The Lien may, in Xxxxxx’s sole discretion, but subject to the terms of this Agreement, be amended after Lender disburses the Loan. To effect such amendment, Xxxxxx, acting on behalf of the County pursuant to the Ordinance, will Record a Confirmation and Amendment of Special Assessment Lien, substantially in the form attached hereto as Exhibit [__], which shall include the final repayment schedule. Lender shall be responsible for (i) preparing all documentation in respect of the Loan, this Agreement, the Lien, and any assignment or amendment of any of the foregoing documentation, (ii) presenting such documentation to the County prior to the Recording of any Lien or any assignment or amendment thereof, and (iii) reimbursing the County for any reasonable out-of-pocket expenses incurred by the County in connection with the review, preparation or Recording of such documentation. Lender shall make such reimbursement within ten (10) days upon written demand from the County. [Lender may, if and as provided for in this Agreement, recover from Borrower the amount of any such reimbursements actually paid to the County, as well as any other costs and expenses incurred by Xxxxxx in respect of the transactions contemplated herein.]2

Assessment and Lien. The terms of the special assessment and the special assessment lien shall be set forth in the Certificate of Xxxx and Lien of Special Assessment (the "Lien"), substantially in the form attached hereto as Exhibit [__[ ], which shall have a payment schedule attached thereto. After the execution of this Agreement, Xxxxxx, acting on behalf of the County pursuant to the Ordinance, will Record the Lien against the Property. Promptly thereafter, Xxxxxx, acting on behalf of the County pursuant to the Ordinance, shall assign solely the County's right, title and interest in and to the Lien to Lender by Recording an Assignment of Special Assessment Lien, substantially in the form attached hereto as Exhibit [__[ ]. Such assignment shall include only the County's right, title and interest in and to the Assessment Payments and the Lien, and the County shall retain all of its other rights and remedies, including any special powers of enforcement or collection to which the County, by virtue of its status as a political subdivision of the Commonwealth, is entitled or empowered to exercise under applicable laws of the Commonwealth. Upon such assignment, Xxxxxx shall be responsible, subject to and in accordance with the terms of this Agreement, for all billing, collection, enforcement and administrative duties in respect of each of the Loan, the Assessment Payments and the Lien. BORROWER HEREBY ACKNOWLEDGES AND AGREES THAT IT SHALL MAKE ALL PAYMENTS DUE IN RESPECT OF EACH OF THE LOAN, THE ASSESSMENT PAYMENTS AND THE LIEN TO LENDER, AND NOT TO THE COUNTY OR ADMINSTRATOR. The Lien may, in Xxxxxx’s sole discretion, but subject to the terms of this Agreement, be amended after Lender Xxxxxx disburses the Loan. To effect such amendment, Xxxxxx, acting on behalf of the County pursuant to the Ordinance, will Record a Confirmation and Amendment of Special Assessment Lien, substantially in the form attached hereto as Exhibit [__[ ], which shall include the final repayment schedule. Lender shall be responsible for (i) preparing all documentation in respect of the Loan, this Agreement, the Lien, and any assignment or amendment of any of the foregoing documentation, (ii) presenting such documentation to the County prior to the Recording of any Lien or any assignment or amendment thereof, and (iii) reimbursing the County for any reasonable out-of-pocket expenses incurred by the County in connection with the review, preparation or Recording of such documentation. Lender shall make such reimbursement within ten (10) days upon written demand from the County. [Lender may, if and as provided for in this Agreement, may recover from Borrower the amount of any such reimbursements actually paid to the County, as well as any other costs and expenses incurred by Xxxxxx in respect of the transactions contemplated herein.]2County from Property Owner pursuant to this Agreement.]2

Assessment and Lien. The terms of the special assessment and the special assessment lien shall be set forth in the Certificate of Xxxx Levy and Lien of Special Assessment (the "Lien"), substantially in the form attached hereto as Exhibit [__[ ], which shall have a payment schedule attached thereto. After the execution of this Agreement, XxxxxxLender, acting on behalf of the County pursuant to the Ordinance, will Record the Lien against the Property. Promptly thereafter, XxxxxxLender, acting on behalf of the County pursuant to the Ordinance, shall assign solely the County's right, title and interest in and to the Lien to Lender by Recording an Assignment of Special Assessment Lien, substantially in the form attached hereto as Exhibit [__[ ]. Such assignment shall include only the County's right, title and interest in and to the Assessment Payments and the Lien, and the County shall retain all of its other rights and remedies, including any special powers of enforcement or collection to which the County, by virtue of its status as a political subdivision of the Commonwealth, is entitled or empowered to exercise under applicable laws of the Commonwealth. Upon such assignment, Xxxxxx Lender shall be responsible, subject to and in accordance with the terms of this Agreement, for all billing, collection, enforcement and administrative duties in respect of each of the Loan, the Assessment Payments and the Lien. BORROWER HEREBY ACKNOWLEDGES AND AGREES THAT IT SHALL MAKE ALL PAYMENTS DUE IN RESPECT OF EACH OF THE LOAN, THE ASSESSMENT PAYMENTS AND THE LIEN TO LENDER, AND NOT TO THE COUNTY OR ADMINSTRATOR. The Lien may, in XxxxxxLender’s sole discretion, but subject to the terms of this Agreement, be amended after Lender disburses the Loan. To effect such amendment, XxxxxxLender, acting on behalf of the County pursuant to the Ordinance, will Record a Confirmation and Amendment of Special Assessment Lien, substantially in the form attached hereto as Exhibit [__[ ], which shall include the final repayment schedule. Lender shall be responsible for (i) preparing all documentation in respect of the Loan, this Agreement, the Lien, and any assignment or amendment of any of the foregoing documentation, (ii) presenting such documentation to the County prior to the Recording of any Lien or any assignment or amendment thereof, and (iii) reimbursing the County for any reasonable out-of-pocket expenses incurred by the County in connection with the review, preparation or Recording of such documentation. Lender shall make such reimbursement within ten (10) days upon written demand from the County. [Lender may, if and as provided for in this Agreement, may recover from Borrower the amount of any such reimbursements actually paid to the County, as well as any other costs and expenses incurred by Xxxxxx in respect of the transactions contemplated herein.]2County from Property Owner pursuant to this Agreement.]2

Assessment and Lien. The terms of the special assessment and the special assessment lien shall be set forth in the Certificate of Xxxx Levy and Lien of Special Assessment (the "Lien"), substantially in the form attached hereto as Exhibit [__], which shall have a payment schedule attached thereto. After the execution of this Agreement, XxxxxxLender, acting on behalf of the County pursuant to the Ordinance, will Record the Lien against the Property. Promptly thereafter, XxxxxxLender, acting on behalf of the County pursuant to the Ordinance, shall assign solely the County's right, title and interest in and to the Lien to Lender by Recording an Assignment of Special Assessment Lien, substantially in the form attached hereto as Exhibit [__]. Such assignment shall include only the County's right, title and interest in and to the Assessment Payments and the Lien, and the County shall retain all of its other rights and remedies, including any special powers of enforcement or collection to which the County, by virtue of its status as a political subdivision of the Commonwealth, is entitled or empowered to exercise under applicable laws of the Commonwealth. Upon such assignment, Xxxxxx Lender shall be responsible, subject to and in accordance with the terms of this Agreement, for all billing, collection, enforcement and administrative duties in respect of each of the Loan, the Assessment Payments and the Lien. BORROWER HEREBY ACKNOWLEDGES AND AGREES THAT IT SHALL MAKE ALL PAYMENTS DUE IN RESPECT OF EACH OF THE LOAN, THE ASSESSMENT PAYMENTS AND THE LIEN TO LENDER, AND NOT TO THE COUNTY OR ADMINSTRATOR. The Lien may, in XxxxxxLender’s sole discretion, but subject to the terms of this Agreement, be amended after Lender disburses the Loan. To effect such amendment, XxxxxxLender, acting on behalf of the County pursuant to the Ordinance, will Record a Confirmation and Amendment of Special Assessment Lien, substantially in the form attached hereto as Exhibit [__], which shall include the final repayment schedule. Lender shall be responsible for (i) preparing all documentation in respect of the Loan, this Agreement, the Lien, and any assignment or amendment of any of the foregoing documentation, (ii) presenting such documentation to the County prior to the Recording of any Lien or any assignment or amendment thereof, and (iii) reimbursing the County for any reasonable out-of-pocket expenses incurred by the County in connection with the review, preparation or Recording of such documentation. Lender shall make such reimbursement within ten (10) days upon written demand from the County. [Lender may, if and as provided for in this Agreement, recover from Borrower the amount of any such reimbursements actually paid to the County, as well as any other costs and expenses incurred by Xxxxxx Lender in respect of the transactions contemplated herein.]2