INCREASE IN TAXES. In the event there is an increase in the rate charged under the Provincial Retails Sales Tax or in the event the Vendor is obligated to pay any portion of the municipal or regional or other levies or development charges applicable to the Property, or any or all of the foregoing, and as a result thereof, the costs of the Dwelling increase over those anticipated as of the date of execution of the Agreement (the "Increase"), the Purchaser agrees to pay the Increase to the Vendor as an adjustment on closing. The amount of the Increase shall be determined by a Statutory Declaration sworn on the part of the Vendor which the Purchaser agrees to accept as the sole and absolute proof thereof and to which the Purchaser agrees to be bound. The Purchaser shall be responsible for the payment of any new taxes or any increase in any existing taxes introduced or implemented by any level of government including, without limitation, the proposed provincial harmonized sales tax.
Appears in 12 contracts
Samples: Purchase and Sale Agreement, Purchase and Sale Agreement, Purchase and Sale Agreement
