Levy of Assessment. As of the effective tax year [YEAR] upon receipt of the Notice To Delaware County To Commence Collection Of Assessment For C-Pace Program (the “Notice”), the form of which is attached as Exhibit E, and during the Term, the Assessment, which runs with the land with respect to the Property, will be added to the Property’s Tax Xxxx on account #[ENTER PROPERTY TAX ID] by the County. Property Owner agrees that the Assessment will be included on the Property’s Tax Xxxx and agrees to pay the Assessment and the County’s and Program Administrator’s administrative costs through the Assessment which is due and payable on the same date as the Property’s Tax Xxxx. The amount of the Assessment, as determined by the Capital Provider, is as follows: an installment payment plan is in effect and is based on the principal amount financed $ [AMOUNT], with interest thereon at a fixed rate equal to [INTEREST RATE]% per annum, plus (a) any capitalized interest, (b) any additional fees and expenses agreed upon in the C-PACE Financing Agreement and (c) fees and costs of the Program Administrator, and County, as set forth in its Pennsylvania C-PACE Program Guidelines, with installments of principal and interest due and payable pursuant to the C-PACE Special Assessment Payment Schedule attached hereto as Exhibit D. Notwithstanding the foregoing, the amount financed may include additional costs and fees which will be paid to the County at the time of closing which amounts are separate and apart from the Assessment. The Capital Provider and the Program Administrator have disclosed to the Property Owner the costs and risks associated with participating in the C-PACE Program, including risks related to the failure of the Property Owner to pay the Assessment provided for in this Agreement and such other documents and agreements governing Property Owner’s participation in the Program. As evidenced in Exhibit D, the Term will be [YEARS] years. Program Administrator, its successors, or its permitted assignees must submit a request for collection of each Assessment amount to the County no later than 60 days prior to the County tax billing day of each year. Program Administrator, on a yearly basis, shall provide the County with a reminder on this and other Assessments by [DATE] of each year. In the event the Program Administrator ceases to act as the Program Administrator and there is no successor, then the Capital Provider may submit the request for collection of the Assessment amount to the...
Levy of Assessment. Pursuant to Section 11-42a-201 of the Act, the Local Entity hereby authorizes the levy of an assessment against the Property in an aggregate principal amount not to exceed $27,900,000 (the “Assessment Lien”) which shall bear interest at an interest rate not exceeding 12% per annum and shall mature on or prior to thirty (30) years following the Effective Date hereof. The final terms of the Assessment Lien shall be as set forth in a financing agreement between the Lender and the Borrower (the “Financing Agreement”) and shall be deemed approved by the Local Entity provided that the final aggregate principal amount, the final interest rate and the maturity date of the assessment levied do not exceed the parameters set forth in this Section 3. Per Section 11-42a-204 of the Act, the assessments will not exceed in the aggregate the sum of: (a) the contract price or estimated contract price of the Improvements; (b) overhead costs not to exceed fifteen percent (15%) of the sum of the contract price or estimated contract price; (c) an amount for contingencies of not more than ten percent (10%) of the sum of the contract price or estimated contract price; (d) capitalized interest; and (e) an amount sufficient to fund a reserve fund. If Xxxxxx and the Borrower fail to agree to the terms set forth in the Financing Agreement, or do not close the Loan for any other reason, then the Lender’s sole obligation hereunder shall be the release of the Assessment Lien by filing a termination of the Notice of Assessment Interest (as defined below). Pursuant to Section 11-42a-201(4) of the Act, the Lender will cause to be filed with the Utah County Recorder a notice of assessment interest (the “Notice of Assessment Interest”) with respect to this Agreement, stating that the Local Entity has an assessment interest in the Energy Assessment Area describing the Energy Assessment Area by legal description and tax identification number, and containing any other information required by Section 11-42a-201 of the Act. The Lender shall file the Notice of Assessment Interest within five (5) days after the Effective Date of this Agreement.
Levy of Assessment. Pursuant to Section 11-42a-201 of the Act, the Local Entity hereby authorizes the levy of an assessment against the Property in an aggregate principal amount not to exceed $45,000,000 (the “Assessment Lien”) which shall bear interest at an interest rate not exceeding 12% per annum and shall mature on or prior to thirty (30) years following the Effective Date hereof. The final terms of the Assessment Lien shall be as set forth in a financing agreement between the Lender and the Borrower (the “Financing Agreement”) and shall be deemed approved by the Local Entity provided that the final aggregate principal amount, the final interest rate and the maturity date of the assessment levied do not exceed the parameters set forth in this Section 3. Per Section 11- 42a-204 of the Act, the assessments will not exceed in the aggregate the sum of: (a) the contract price or estimated contract price of the Improvements; (b) overhead costs not to exceed fifteen percent (15%) of the sum of the contract price or estimated contract price;
Levy of Assessment. Pursuant to Section 11-42a-201 of the Act, the Local Entity hereby authorizes the levy of an assessment against the Additional Property within the parameters set forth in Section 3 of the Original Written Agreement. Pursuant to Section 11-42a-201(2) of the Act, the Local Entity will, as soon as practicable following the Effective Date hereof, give notice of the execution of this First Amendment by posting a copy of this Agreement (i) on the Utah Public Notice website,
