Common Expense Assessments Sample Clauses

Common Expense Assessments. Seller and Purchaser acknowledge that at Closing, the annual General and Neighborhood assessments levied by the Association against the Property as provided in the Declaration for the current year shall be prorated between Seller and Purchaser as of 12:01 a.m. on the day of Closing. All assessments levied by the Association against the Property that are due and payable after the date of Closing shall be paid by Purchaser to the Association at such times and in such manner as provided in the Declaration.
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Common Expense Assessments. Purchaser shall pay its pro rata share of the common expense assessment levied against the Townhome, as provided in the Declaration (as hereinafter defined), for the month in which the Closing shall take place, which common expense assessment shall be adjusted at the Closing according to the number of days remaining in the calendar month. Following Closing, all common expense assessments shall be payable to Alloy Townhome Owners Association, Inc. (the “Association”), a non-profit corporation existing under the laws of the State of North Carolina, by Purchaser in equal monthly installments, commencing on the first day of the calendar month immediately following the date of Closing, or as otherwise provided by the Board of Directors of the Association, in accordance with the terms of the Declaration. At Closing, Purchaser shall be required to pay to the Association as a contribution to the reserve funds (as described in the Declaration), an amount equal to two (2) months of assessments. Purchaser acknowledges that its contribution to the reserve funds shall not be considered as advance payments of regular assessments, but shall be in addition thereto, as provided in the Declaration.
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Common Expense Assessments. Purchaser shall pay his or her pro rata share of the common expense assessment levied against the Unit, as provided in the Declaration, for the year in which the closing shall take place, which common expense assessment shall be adjusted at the closing according to the number of days remaining in the calendar year. Except for that portion of the assessment installment as shall be payable for the month in which the closing shall take place, which shall be prorated between Seller and Purchaser as of the day of closing, such adjusted common expense assessment shall be payable to The Courtyard on Kirkwood Condominium Association, Inc. ("Association"), by Purchaser in equal monthly installments, commencing on the first day of the calendar month immediately following the date of closing, or as otherwise provided by the Board of Directors of the Association. From and after the first day of the first calendar month of the year following the year in which the closing takes place, Purchaser shall pay all amounts as are assessed against the Unit in accordance with the terms and provisions of the Declaration.
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Common Expense Assessments. Buyer shall be obligated to pay Buyer’s pro rata share of the common expense assessment levied against the Unit, as provided in the Master Deed, pro-rated through the end of the quarter in which the Closing shall take place, which common expense assessment shall commence as of the date of Closing; provided, however, that if Closing shall occur within the thirty (30) day period prior to the end of the applicable quarter, then, in such event, Buyer’s pro rata share of the common expense assessment levied against the Unit shall be pro-rated through the end of the following quarter. Such common expense assessment shall be payable to the Condominium Association by Buyer at Closing for the remainder of the quarter in which Closing shall take place (or, if applicable, for the remainder of the quarter in which Closing takes place and the following quarter), and thereafter in equal monthly or quarterly installments, as determined by the Condominium Association, commencing on the first day of the first calendar month of the following quarter, or as otherwise provided by the Board of Directors of the Condominium Association. Buyer acknowledges that common expense assessments will be levied in full without regard to the state of completion or readiness for use of the various common facilities within the Regime, and Buyer agrees to pay such amounts in full as and when due. Buyer understands that, as an owner of a condominium unit within the Regime, Buyer shall be liable for annual, special or other assessments for the purpose of insuring, maintaining, repairing and replacing the Common Elements of the Regime, and for such other purposes as outlined in the Master Deed and By-Laws. Buyer acknowledges Buyer’s continuing obligation, as a condominium unit owner within the Regime and member of the Condominium Association, to pay his or her pro rata share of any common expenses assessed against the Unit purchased hereby pursuant to the Master Deed and Regime Documents. Such assessments shall be for any authorized purposes as set forth in the Master Deed and By-Laws, including but not limited to, expenses incurred for landscaping, maintenance, security, repairs, general area maintenance, administration, supplies, professional services, utilities, garbage services, insurance, etc., and including assessments payable through the Condominium Association to KICA. Seller may control the composition of the Board of Directors of the Condominium Association as established under the Mas...
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Related to Common Expense Assessments

  • Real Estate Taxes and Assessments Xxxxx is aware that all property is subject to the possibility of reassessment which may result in increased real estate taxes.

  • TAXES & ASSESSMENTS The real estate taxes shall be prorated. Seller shall pay real estate taxes which are payable during the year in which Closing occurs, and taxes payable during the succeeding year, prorated to the date of Closing. Buyer shall assume and pay all subsequent taxes. If at the time of closing the tax xxxx for the Real Estate for the succeeding year has not been issued, taxes payable shall be computed based on the last tax xxxx available to the closing agent. The succeeding year’s tax xxxx, because of recently constructed improvements, annexation, reassessment, or similar items may greatly exceed the last tax xxxx available to the closing agent.

  • Real Estate Taxes and Special Assessments The 2022 calendar year real estate taxes due and payable in 2023 shall be paid by Seller. Seller shall credit Buyer(s) at closing for said 2022 real estate taxes payable in 2023 based on the most recent ascertainable tax figures. Xxxxx is responsible for all subsequent real estate taxes.

  • Operating Expenses Unless modified in accordance with Exhibit D, Landlord maintenance addendum, attached hereto, it is the intention of the parties and they hereby agree that this shall be a triple net Lease, and the Landlord shall have no obligation to provide any services, perform any acts or pay any expenses, charges, obligations or costs of any kind whatsoever with respect to the Premises, and Tenant hereby agrees to pay one hundred percent (100%) of any and all Operating Expenses as hereafter defined for the entire term of the Lease and any extensions thereof in accordance with specific provisions hereinafter set forth. The term Operating expenses shall include all costs to Landlord of operating and maintaining the Building and related parking areas, and shall include, without limitation, real estate and personal property taxes and assessments, management fee, heating, electricity, water, waste disposal, sewage, operating materials and supplies, service agreements and charges, lawn care, snow removal, restriping, repairs, repaving, cleaning and custodial, security, insurance, the cost of contesting the validity or applicability of any governmental acts which may affect operating expenses, and all other direct operating costs of operating and maintaining the Building and related parking areas, unless expressly excluded from operating expenses. Notwithstanding the foregoing, operating costs (and Tenant's obligations in relation thereto) shall not include (i) any expense chargeable to a capital account or capital improvement, ground leases; principal or interest payments on any mortgage or deed of trust on the premises; (ii) any amount for which Landlord is reimbursed through insurance, by third persons, or directly by other tenants of the premises, (iii) repair costs occasioned by fire, windstorm or other casualty, (iv) any construction, repair or maintenance expenses or obligations that are the sole responsibility of Landlord (not to be reimbursed by Tenant), (v) leasing commissions and other expenses incurred in connection with leasing any other area located on the premises to any other party, (vi) any expense representing an amount paid to an affiliate or subsidiary of Landlord which is in excess of the amount which would be paid in the absence of such relationship, and (vii) costs of items and services for which Tenant reimburses Landlord or pays third persons directly.

  • Real Estate Taxes All taxes and installments for special assessments will be prorated for the calendar year based on taxes levied. If taxes have not been levied, then they will be prorated based upon taxes for the previous year, adjusted for the most recent mill levy, if known.

  • Taxes and Assessments As of the date of origination and, to the Mortgage Loan Seller’s knowledge, as of the Cut-off Date, all taxes, governmental assessments and other outstanding governmental charges (including, without limitation, water and sewage charges) due with respect to the Mortgaged Property (excluding any related personal property) securing a Mortgage Loan that is or could become a lien on the related Mortgaged Property that became due and owing prior to the Cut-off Date with respect to each related Mortgaged Property have been paid, or, if the appropriate amount of such taxes or charges is being appealed or is otherwise in dispute, the unpaid taxes or charges are covered by an escrow of funds or other security sufficient to pay such tax or charge and reasonably estimated interest and penalties, if any, thereon. For purposes of this representation and warranty, any such taxes, assessments and other charges shall not be considered due and payable until the date on which interest and/or penalties would be payable thereon.

  • Ergonomic Assessments At the request of the employee, the College will ensure that an ergonomic assessment of the employee’s work station is completed by a person trained by the Department of Labor and Industries or comparable trainer to conduct ergonomic assessments. Solutions to identified issues/concerns will be implemented within available resources.

  • Construction Cost Estimate At 50% completion of the contract documents, the design team will present and submit copies of the project plans and manual. The Construction Administrator will prepare and issue the fourth of five construction cost estimates. The estimate shall be derived from actual takeoffs, subcontractor and vendor input, and material and labor cost data. All quantitative systems information shall be provided in detail.

  • Non-Reimbursable Expenses In addition to the non-reimbursable items set forth above in this Policy, the following is a non-exhaustive list of expenses that will not be reimbursed by Xxxxxxxxxx County:

  • UNION DUES AND ASSESSMENTS (a) The Employer shall, as a condition of employment, deduct from the wages or salary of each employee in the bargaining unit, whether or not the employee is a member of the Union, the amount of the regular dues payable to the Union by a member of the Union.

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