First Ten (10) Years Clause Samples

First Ten (10) Years. Subject to the provisions of this Agreement, the real property within the Redevelopment Area shall not be subject to assessment or payment of general ad valorem taxes imposed by the City, the State of Missouri, or any political subdivision thereof, for a period of ten (10) years after the date upon which the Corporation acquires title to such property (but only for so long as said parcel is used in accordance with the Redevelopment Plan), except to such extent and in such amount as may be imposed upon such real property during such period measured solely by the amount of the assessed valuation of land, exclusive of improvements, during the calendar year preceding the calendar year during which the Corporation acquired title to such real property.
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First Ten (10) Years. The Development Area shall not be subject to assessment or payment of general ad valorem taxes imposed by the City, the State, or any political subdivision thereof, for a period of ten (10) years after the date that Developer becomes the owner of such real property except to such extent and in such amount as may be imposed upon such real property during such period measured solely by the amount of the assessed valuation of the land, exclusive of improvements, as was determined by the Assessor of ▇▇▇▇▇▇▇ County, Missouri (“County Assessor”), for taxes due and payable thereon during the calendar year preceding the calendar year during which Developer acquires title to such real property. The amounts of such tax assessments shall not be increased during said ten (10) year period so long as the real property is used in accordance with the Development Plan. If any portion of such real property was tax exempt or if the County Assessor has not previously assessed such real property immediately prior to its acquisition by Developer, then the County Assessor, upon request of the City, shall promptly assess such real property, exclusive of improvements, in accordance with the provisions of Section 353.110(2) of the Act. The amount of such assessed valuation so fixed by the County Assessor in the manner provided by law shall not be increased during the ten (10) year period next following the date upon which Developer acquired title thereto so long as said real property is used in accordance with the Development Plan. Developer shall notify, in writing, the Advisory Board of any tax-exempt real property which it acquires.
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Related to First Ten (10) Years

  • Term Life Insurance The Employer will maintain and make available to full-time and part-time employees, the current term life insurance plan as set forth in the document "Summary of Health Benefits, Maryland State Employees."

  • Insurance Term The Consultant shall procure and maintain for the duration of this Agreement, insurance against claims for injuries to persons or damage to property which may arise from or in connection with the performance of the work hereunder by the Consultant, its agents, representatives, or employees.

  • Retiree Life Insurance Employees who retire under the Monroe County Employees' Retirement System shall be eligible for $4,000.00 term life insurance. All employees hired by the Employer on or after October 1, 2007 shall not be eligible for Retiree Life Insurance.

  • Group Term Life Insurance The Welfare Plan will include Group Term Life Insurance in accordance with the following Table of Hourly Job Rate Brackets and corresponding coverages. Benefits will be payable as a result of death from any cause on a twenty-four (24) hour coverage basis.

  • Term of the Company The term of the Company shall commence on the date the Certificate is filed with the Delaware Secretary of State in accordance with the provisions of the Act and shall continue until dissolved and terminated pursuant to this Agreement.