ASSESSMENT AND TAX ADVANCE. As taxes and assessments become due on the Leased Premises, Lessor shall be, and hereby is, authorized to advance to itself automatically from the proceeds of the Development Financing, the total amount of such taxes and assessments and the same shall be deemed to be an advance of the proceeds of the Development Financing under this Agreement in the same manner and with the same effect as if advances under the provisions above, if not previously paid before due pursuant to Lessee's obligations under the Lease.
Appears in 35 contracts
Samples: Development Financing Agreement (Aei Net Lease Income & Growth Fund Xx Limited Partnership), Development Financing Agreement (Aei Income & Growth Fund Xxi LTD Partnership), Development Financing and Leasing Commitment (Aei Real Estate Fund Xviii Limited Partnership)
