Owners’ Association Assessments. If the Property is located in a business park which is governed by an Owners' Association, reciprocal easement agreement, covenants, conditions and restrictions or similar property-related agreement, and the association or other applicable Person charges assessments with respect to the Property, then at the Closing (a) if such charges are payable after the Closing Date for a period before the Closing Date, Seller shall pay to Buyer an amount equal to the amount of such charges allocated to the period before the Closing Date, prorated on a per diem basis, and (b) if such charges were paid before the Closing Date for a period from and after the Closing Date, Buyer shall pay to Seller an amount equal to the amount of such charges reasonably allocated to the period from, including and after the Closing Date, prorated on a per diem basis.
Appears in 4 contracts
Samples: Agreement of Purchase and Sale (Duke Realty Limited Partnership/), Agreement of Purchase and Sale (Duke Realty Limited Partnership/), Agreement of Purchase and Sale (Duke Realty Limited Partnership/)
