Common use of LEVY OF ADDITIONAL PROPERTY TAXES Clause in Contracts

LEVY OF ADDITIONAL PROPERTY TAXES. The Property: (check one) is is not specially assessed for property taxes (e.g., farm, 420 forest or other) in a way that may result in levy of additional taxes in the future. If it is specially assessed, Seller represents that the Property is 421 current as to income or other conditions required to preserve its deferred tax status. If, as a result of Buyer's actions or the Closing of this 422 transaction, the Property either is disqualified from special use assessment or loses its deferred property tax status, unless otherwise specifically 423 provided in this Agreement, Buyer shall be responsible for and shall pay when due, any deferred and/or additional taxes and interest that may be 424 levied against the Property and shall hold Seller completely harmless therefrom. However, if as a result of Seller's actions prior to Closing, the 425 Property either is disqualified from its entitlement to special use assessment or loses its deferred property tax status, Buyer may, at Buyer’s sole 426 option, promptly terminate this transaction and receive a refund of all deposits paid by Buyer in anticipation of Closing; or Close this transaction and 427 hold Seller responsible to pay into Escrow all deferred and/or additional taxes and interest that may be levied or recaptured against the Property 428 and hold Buyer completely harmless therefrom. The preceding shall not be construed to limit Buyer’s or Seller’s available remedies or damages 429 arising from a breach of this Section 35.1.

LEVY OF ADDITIONAL PROPERTY TAXES. The Property: (check one) is is not specially assessed for property taxes (e.g., farm, 420 forest or other) in a way that may result in levy of additional taxes in the future. If it is specially assessed, Seller represents that the Property is 421 current as to income or other conditions required to preserve its deferred tax status. If, as a result of Buyer's actions or the Closing of this 422 transaction, the Property either is disqualified from special use assessment or loses its deferred property tax status, unless otherwise specifically 423 provided in this Agreement, Buyer shall be responsible for and shall pay when due, any deferred and/or additional taxes and interest that may be 424 levied against the Property and shall hold Seller completely harmless therefrom. However, if as a result of Seller's actions prior to Closing, the 425 Property either is disqualified from its entitlement to special use assessment or loses its deferred property tax status, Buyer may, at Buyer’s sole 426 option, promptly terminate this transaction and receive a refund of all deposits paid by Buyer in anticipation of Closing; or Close this transaction and 427 hold Seller responsible to pay into Escrow all deferred and/or additional taxes and interest that may be levied or recaptured against the Property 428 and hold Buyer completely harmless therefrom. The preceding shall not be construed to limit Buyer’s or Seller’s available remedies or damages 429 arising from a breach of this Section 35.135.1 (Levy of Additional Property Taxes).

LEVY OF ADDITIONAL PROPERTY TAXES. The Property: (check one) is is not specially assessed for property taxes (e.g., farm, 420 413 forest or other) in a way that may result in levy of additional taxes in the future. If it is specially assessed, Seller represents that the Property is 421 414 current as to income or other conditions required to preserve its deferred tax status. If, as a result of Buyer's actions or the Closing of this 422 415 transaction, the Property either is disqualified from special use assessment or loses its deferred property tax status, unless otherwise specifically 423 416 provided in this Agreement, Buyer shall be responsible for and shall pay when due, any deferred and/or additional taxes and interest that may be 424 417 levied against the Property and shall hold Seller completely harmless therefrom. However, if as a result of Seller's actions prior to Closing, the 425 418 Property either is disqualified from its entitlement to special use assessment or loses its deferred property tax status, Buyer may, at Buyer’s sole 426 419 option, promptly terminate this transaction and receive a refund of all deposits paid by Buyer in anticipation of Closing; or Close this transaction and 427 420 hold Seller responsible to pay into Escrow all deferred and/or additional taxes and interest that may be levied or recaptured against the Property 428 421 and hold Buyer completely harmless therefrom. The preceding shall not be construed to limit Buyer’s or Seller’s available remedies or damages 429 422 arising from a breach of this Section 35.134.1.

LEVY OF ADDITIONAL PROPERTY TAXES. The Property: (check one) is is not specially assessed for property taxes (e.g., farm, 395 396 397 398 399 400 401 402 403 404 405 406 407 408 409 410 411 412 413 414 415 416 417 418 419 420 421 422 423 424 425 426 427 428 429 430 431 432 433 434 435 436 437 438 439 440 forest or other) in a way that may result in levy of additional taxes in the future. If it is specially assessed, Seller represents that the Property is 421 current as to income or other conditions required to preserve its deferred tax status. If, as a result of Buyer's actions or the Closing of this 422 transaction, the Property either is disqualified from special use assessment or loses its deferred property tax status, unless otherwise specifically 423 provided in this Agreement, Buyer shall be responsible for and shall pay when due, any deferred and/or additional taxes and interest that may be 424 levied against the Property and shall hold Seller completely harmless therefrom. However, if as a result of Seller's actions prior to Closing, the 425 Property either is disqualified from its entitlement to special use assessment or loses its deferred property tax status, Buyer may, at Buyer’s sole 426 option, promptly terminate this transaction and receive a refund of all deposits paid by Buyer in anticipation of Closing; or Close this transaction and 427 hold Seller responsible to pay into Escrow all deferred and/or additional taxes and interest that may be levied or recaptured against the Property 428 and hold Buyer completely harmless therefrom. The preceding shall not be construed to limit Buyer’s or Seller’s available remedies or damages 429 arising from a breach of this Section 35.1.

LEVY OF ADDITIONAL PROPERTY TAXES. The Property: (check one) is is not specially assessed for property taxes (e.g., farm, 420 406 forest or other) in a way that may result in levy of additional taxes in the future. If it is specially assessed, Seller represents that the Property is 421 407 current as to income or other conditions required to preserve its deferred tax status. If, as a result of Buyer's actions or the Closing of this 422 408 transaction, the Property either is disqualified from special use assessment or loses its deferred property tax status, unless otherwise specifically 423 409 provided in this Agreement, Buyer shall be responsible for and shall pay when due, any deferred and/or additional taxes and interest that may be 424 410 levied against the Property and shall hold Seller completely harmless therefrom. However, if as a result of Seller's actions prior to Closing, the 425 411 Property either is disqualified from its entitlement to special use assessment or loses its deferred property tax status, Buyer may, at Buyer’s sole 426 412 option, promptly terminate this transaction and receive a refund of all deposits paid by Buyer in anticipation of Closing; or Close this transaction and 427 413 hold Seller responsible to pay into Escrow all deferred and/or additional taxes and interest that may be levied or recaptured against the Property 428 414 and hold Buyer completely harmless therefrom. The preceding shall not be construed to limit Buyer’s or Seller’s available remedies or damages 429 415 arising from a breach of this Section 35.134.1.