Common use of Buyer to Mutate and Pay Rates & Taxes Clause in Contracts

Buyer to Mutate and Pay Rates & Taxes. The Buyer shall (1) pay the Rates & Taxes (proportionately for the Said Block and wholly for the Said Unit And Appurtenances, from the Date Of Possession and until the Said Unit And Appurtenances is separately assessed in the name of the Buyer), on the basis of the bills to be raised by the Developer or the Association (upon formation), such bills being conclusive proof of the liability of the Buyer in respect thereof and (2) have mutation completed at the earliest. The Buyer further admits and accepts that the Buyer shall not claim any deduction or abatement in the bills of the Developer or the Association (upon formation). If the Buyer delays in paying the Rates & Taxes, the Buyer shall pay compound interest @ 2% (two percent) per month or part thereof (compoundable monthly), from the date of default till the date of payment.

Buyer to Mutate and Pay Rates & Taxes. The Buyer shall (1) pay the Rates & Taxes (proportionately for the Said Block Building and wholly for the Said Unit Flat And Appurtenances, from the Date Of Possession and until the Said Unit Flat And Appurtenances is separately assessed in the name of the Buyer), on the basis of the bills to be raised by the Developer or the Association (upon formation), such bills being conclusive proof of the liability of the Buyer in respect thereof and (2) have mutation completed at the earliest. The Buyer further admits and accepts that the Buyer shall not claim any deduction or abatement in the bills of the Developer or the Association (upon formation). If the Buyer delays in paying the Rates & Taxes, the Buyer shall pay compound interest @ 2% (two percent) per month or part thereof (compoundable monthly), from the date of default till the date of payment.