Common use of INTEREST AND LIENS Clause in Contracts

INTEREST AND LIENS. 87. In the event that there are monies due from the Subdivider to the Municipality which have not been paid within thirty (30) days after receipt by the Subdivider of a demand therefor by the Municipality, interest shall be payable on the amount due at the rate of one and one quarter (1¼%) per cent per month, compounded monthly, (equivalent effective annual rate of 16.08%) determined and calculated from the date of receipt of the demand and the amount due together with interest thereon shall constitute a lien upon the Phase II Land.

INTEREST AND LIENS. 8743. In the event that there are monies due from the Subdivider Subdividers to the Municipality which have not been paid within thirty (30) days after receipt by the Subdivider of a demand therefor by the Municipality, interest shall be payable on the amount due at the rate of one and one quarter (1¼%) per cent per month, compounded monthly, (equivalent effective annual rate of 16.08%) determined and calculated from the date of receipt of the demand and the amount due together with interest thereon shall constitute a lien upon the Phase II Land.

INTEREST AND LIENS. 8766. In the event that there are monies due from the Subdivider to the Municipality which have not been paid within thirty (30) days after receipt by of the Subdivider of a demand therefor by the Municipalitydate on which such monies are due, interest shall be payable on the amount due at the rate of one and one quarter (1¼%1½%) per cent per month, compounded monthly, (equivalent effective annual rate of 16.0819.56%) determined and calculated from the date of receipt of the demand on which such monies were due and the amount due together with interest thereon shall constitute a lien upon the Phase II Nola Land.

INTEREST AND LIENS. 8788. In the event that there are monies due from the Subdivider to the Municipality which have not been paid within thirty (30) days after receipt by the Subdivider of a demand therefor by the Municipality, interest shall be payable on the amount due at the rate of one and one quarter (1¼%) per cent per month, compounded monthly, (equivalent effective annual rate of 16.08%) determined and calculated from the date of receipt of the demand and the amount due together with interest thereon shall constitute a lien upon the Phase II 3 Land.

INTEREST AND LIENS. 8775. In the event that there are monies due from the Subdivider to the Municipality Township which have not been paid within thirty (30) days after receipt by the Subdivider of a demand therefor by the MunicipalityTownship, interest shall be payable on the amount due at the rate of one and one quarter (1¼%) per cent per month, compounded monthly, (equivalent effective annual rate of 16.08%) determined and calculated from the date of receipt of the demand and the amount due together with interest thereon shall constitute a lien upon the Phase II 2 Land.

INTEREST AND LIENS. 8781. In the event that there are monies due from the Subdivider to the Municipality which have not been paid within thirty (30) days after receipt by the Subdivider of a demand therefor by the Municipality, interest shall be payable on the amount due at the rate of one and one quarter (1¼%) per cent per month, compounded monthly, (equivalent effective annual rate of 16.08%) determined and calculated from the date of receipt of the demand and the amount due together with interest thereon shall constitute a lien upon the Phase II IV Land.

INTEREST AND LIENS. 8780. In the event that there are monies due from the Subdivider to the Municipality which have not been paid within thirty (30) days after receipt by the Subdivider of a demand therefor by the Municipality, interest shall be payable on the amount due at the rate of one and one quarter (1¼%) per cent per month, compounded monthly, (equivalent effective annual rate of 16.08%) determined and calculated from the date of receipt of the demand and the amount due together with interest thereon shall constitute a lien upon the Phase II III Land.