Execution of Proposed Assessment Transfer Sample Clauses

Execution of Proposed Assessment Transfer. If the Board approves the Proposed Assessment Transfer, the transfer of the 378 Assessment to the 370 Property shall be effectuated by the County’s recording of a Fourth Addendum to the Notice of Assessment in a form substantially similar to the form attached hereto as Exhibit A (hereafter the “FANA”). The recording of such FANA shall conclusively establish and constitute the levying of an assessment lien on the 370 Property for the amount stated in said FANA. Applicant hereby stipulates that the recording of such FANA shall constitute a legally valid levy of an assessment lien on the 370 Property for the amount stated therein. The assessments levied on the 370 Property by the recording of the FANA shall hereafter be referred to the “370 Assessment”. The Applicant agrees and hereby acknowledges that the recording of the FANA on the 370 Property shall have the same force and effect as an assessment lawfully levied under applicable law. The County shall have all of the same rights with respect to the FANA as it would have under any assessment lien lawfully levied pursuant to the Municipal Improvement Act of 1913 (California Government Code Sections 10000 et seq), the Improvement Bond Act of 1915, and all other applicable laws. Nothing in this Agreement, including any subordination requirements, shall be interpreted as diminishing the lien priority that the FANA has under applicable law against any and all nongovernmental liens. Any such subordination requirements are simply an additional safeguard being provided to the County. If the Board approves the Proposed Assessment Transfer, the Board shall also have the discretion to approve or disapprove the granting of a credit to the 370 Assessment for payments made on the 378 Assessment before the FANA is recorded.
Sample 1
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Related to Execution of Proposed Assessment Transfer

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  • Resolution of Disagreements Disputes arising under this Agreement will be resolved informally by discussions between Agency Points of Contact, or other officials designated by each agency.

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