Common use of Payment of Purchase Price; Incentive Payment Clause in Contracts

Payment of Purchase Price; Incentive Payment. (a) The County has paid on the Closing Date a portion of the Purchase Price in the amount of $ to the Seller and shall pay the balance of the Purchase Price in the amount of $ to the Registered Owner in installments on and on the same day in each year thereafter to and including (each an “Installment Payment Date”), in the amounts set forth in Schedule I attached hereto and made a part hereof. (b) Interest on the unpaid balance of the Purchase Price at the fixed rate of interest equal to % per annum shall accrue from the date hereof and shall be payable to the Registered Owner on each Installment Payment Date. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. (c) The Purchase Price and the interest on the unpaid balance thereof are payable in lawful money of the United States of America, at the time of payment. (d) Payment of each installment of the Purchase Price and interest thereon shall be made by the County on each Installment Payment Date to the Registrar. The Registrar shall forward each such payment (other than the final installment of the Purchase Price) on the applicable Installment Payment Date to the person appearing on the registration books of the County maintained by the Registrar as the Registered Owner on the tenth day before the applicable Installment Payment Date, or if such tenth day is not a Business Day, the Business Day next preceding such day, by check or draft mailed to the Registered Owner at the address of the Registered Owner as it appears on such registration books on the tenth day before the applicable Installment Payment Date, or if such tenth day is not a Business Day, the Business Day next preceding such day. The final installment of the Purchase Price shall be paid by the Registrar to the Registered Owner upon presentation and surrender of this Agreement at the office of the Registrar. (e) The County’s obligation to pay the Purchase Price and the interest on the unpaid balance thereof as provided herein is a general obligation of the County, and the full faith and credit and the taxing power of the County are irrevocably pledged to the punctual payment thereof as and when the same become due and payable. (f) [SOLELY FOR FARMS WITH NO EXISTING RESIDENCE The Purchase Price excludes one Development Right, which shall not be subdivided and is retained by the Seller for the purpose of the construction of one residence on the Land, subject to the terms and provisions of the Deed of Easement.]

Payment of Purchase Price; Incentive Payment. 4 (a) The County has paid on the Closing Date a portion of the Purchase Price in 5 the amount of $ _ to the Seller and shall pay the balance of the Purchase Price in the 6 amount of $ to the Registered Owner in installments on and on the same 7 day in each year thereafter to and including (each an “Installment Payment Date”), in the 8 amounts set forth in Schedule I attached hereto and made a part hereof. 9 (b) Interest on the unpaid balance of the Purchase Price at the fixed rate of 10 interest equal to % per annum shall accrue from the date hereof and shall be payable to the 11 Registered Owner on each Installment Payment Date. Interest shall be calculated on the basis of 12 a 360-day year of twelve 30-day months. 13 (c) The Purchase Price and the interest on the unpaid balance thereof are 14 payable in lawful money of the United States of America, at the time of payment. . 15 (d) Payment of each installment of the Purchase Price and interest thereon shall 16 be made by the County on each Installment Payment Date to the Registrar. The Registrar shall 17 forward each such payment (other than the final installment of the Purchase Price) on the 18 applicable Installment Payment Date to the person appearing on the registration books of the 19 County maintained by the Registrar as the Registered Owner on the tenth day before the applicable 20 Installment Payment Date, or if such tenth day is not a Business Day, the Business Day next 21 preceding such day, by check or draft mailed to the Registered Owner at the address of the 22 Registered Owner as it appears on such registration books on the tenth day before the applicable 23 Installment Payment Date, or if such tenth day is not a Business Day, the Business Day next 24 preceding such day. The final installment of the Purchase Price shall be paid by the Registrar to 25 the Registered Owner upon presentation and surrender of this Agreement at the office of the 26 Registrar. . 27 (e) The County’s obligation to pay the Purchase Price and the interest on the 28 unpaid balance thereof as provided herein is a general obligation of the County, and the full faith 29 and credit and the taxing power of the County are irrevocably pledged to the punctual payment 30 thereof as and when the same become due and payable. (f) [SOLELY FOR FARMS WITH NO EXISTING RESIDENCE The Purchase Price excludes one Development Right, which shall not be subdivided and is retained by the Seller for the purpose of the construction of one residence on the Land, subject to the terms and provisions of the Deed of Easement.]

Payment of Purchase Price; Incentive Payment. 4 (a) The County has paid on the Closing Date a portion of the Purchase Price 5 in the amount of $ to the Seller and shall pay the balance of the Purchase Price in the 6 amount of $ to the Registered Owner in installments on and on the 7 same day in each year thereafter to and including (each an “Installment Payment 8 Date”), in the amounts set forth in Schedule I attached hereto and made a part hereof. 9 (b) Interest on the unpaid balance of the Purchase Price at the fixed rate of 10 interest equal to % per annum shall accrue from the date hereof and shall be payable to the 11 Registered Owner on each Installment Payment Date. Interest shall be calculated on the basis of 12 a 360-day year of twelve 30-day months. 13 (c) The Purchase Price and the interest on the unpaid balance thereof are 14 payable in lawful money of the United States of America, at the time of payment. . 15 (d) Payment of each installment of the Purchase Price and interest thereon 16 shall be made by the County on each Installment Payment Date to the Registrar. The Registrar 17 shall forward each such payment (other than the final installment of the Purchase Price) on the 18 applicable Installment Payment Date to the person appearing on the registration books of the 19 County maintained by the Registrar as the Registered Owner on the tenth day before the 20 applicable Installment Payment Date, or if such tenth day is not a Business Day, the Business 21 Day next preceding such day, by check or draft mailed to the Registered Owner at the address of 22 the Registered Owner as it appears on such registration books on the tenth day before the 23 applicable Installment Payment Date, or if such tenth day is not a Business Day, the Business 24 Day next preceding such day. The final installment of the Purchase Price shall be paid by the 25 Registrar to the Registered Owner upon presentation and surrender of this Agreement at the 26 office of the Registrar. . 27 (e) The County’s obligation to pay the Purchase Price and the interest on the 28 unpaid balance thereof as provided herein is a general obligation of the County, and the full faith 29 and credit and the taxing power of the County are irrevocably pledged to the punctual payment 30 thereof as and when the same become due and payable. (f) [SOLELY FOR FARMS WITH NO EXISTING RESIDENCE The Purchase Price excludes one Development Right, which shall not be subdivided and is retained by the Seller for the purpose of the construction of one residence on the Land, subject to the terms and provisions of the Deed of Easement.]

Payment of Purchase Price; Incentive Payment. (a) The County has paid on the Closing Date a portion of the Purchase Price in the amount of $ to the Seller and shall pay the balance of the Purchase Price in the amount of $ to the Registered Owner in nine installments on and on the same day in each year thereafter to and including (each an “Installment Payment Date”), in the amounts set forth in Schedule I attached hereto and made a part hereof. (b) Interest on the unpaid balance of the Purchase Price at the fixed rate of interest equal to % per annum shall accrue from the date hereof and shall be payable to the Registered Owner on each Installment Payment Date. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. (c) The Purchase Price and the interest on the unpaid balance thereof are payable in lawful money of the United States of America, at the time of payment. (d) Payment of each installment of the Purchase Price and interest thereon shall be made by the County on each Installment Payment Date to the Registrar. The Registrar shall forward each such payment (other than the final installment of the Purchase Price) on the applicable Installment Payment Date to the person appearing on the registration books of the County maintained by the Registrar as the Registered Owner on the tenth day before the applicable Installment Payment Date, or if such tenth day is not a Business Day, the Business Day next preceding such day, by check or draft mailed to the Registered Owner at the address of the Registered Owner as it appears on such registration books on the tenth day before the applicable Installment Payment Date, or if such tenth day is not a Business Day, the Business Day next preceding such day. The final installment of the Purchase Price shall be paid by the Registrar to the Registered Owner upon presentation and surrender of this Agreement at the office of the Registrar. (e) The County’s obligation to pay the Purchase Price and the interest on the unpaid balance thereof as provided herein is a general obligation of the County, and the full faith and credit and the taxing power of the County are irrevocably pledged to the punctual payment thereof as and when the same become due and payable. (f) [SOLELY FOR FARMS WITH NO EXISTING RESIDENCE The Purchase Price excludes one Development Right, which shall not be subdivided and is retained by the Seller for the purpose of the construction of one residence on the Land, subject to the terms and provisions of the Deed of Easement.] (g) The County has paid on the Closing Date a one-time cash incentive payment in the amount of $ 12J(3) of the Authorizing Act. to the Seller in accordance with Section 60-

Payment of Purchase Price; Incentive Payment. (a) The County has paid on the Closing Date a portion of the Purchase Price in the amount of $ to the Seller and shall pay the balance of the Purchase Price in the amount of $ to the Registered Owner in installments on and on the same day in each year thereafter to and including (each an “Installment Payment Date”), in the amounts set forth in Schedule I attached hereto and made a part hereof. (b) Interest on the unpaid balance of the Purchase Price at the fixed rate of interest equal to % per annum shall accrue from the date hereof and shall be payable to the Registered Owner on each Installment Payment Date. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. (c) The Purchase Price and the interest on the unpaid balance thereof are payable in lawful money of the United States of America, at the time of payment. (d) Payment of each installment of the Purchase Price and interest thereon shall be made by the County on each Installment Payment Date to the Registrar. The Registrar shall forward each such payment (other than the final installment of the Purchase Price) on the applicable Installment Payment Date to the person appearing on the registration books of the County maintained by the Registrar as the Registered Owner on the tenth day before the applicable Installment Payment Date, or if such tenth day is not a Business Day, the Business Day next preceding such day, by check or draft mailed to the Registered Owner at the address of the Registered Owner as it appears on such registration books on the tenth day before the applicable Installment Payment Date, or if such tenth day is not a Business Day, the Business Day next preceding such day. The final installment of the Purchase Price shall be paid by the Registrar to the Registered Owner upon presentation and surrender of this Agreement at the office of the Registrar. (e) The County’s obligation to pay the Purchase Price and the interest on the unpaid balance thereof as provided herein is a general obligation of the County, and the full faith and credit and the taxing power of the County are irrevocably pledged to the punctual payment thereof as and when the same become due and payable. (f) [SOLELY FOR FARMS WITH NO EXISTING RESIDENCE The Purchase Price excludes one Development Right, which shall not be subdivided and is retained by the Seller for the purpose of the construction of one residence on the Land, subject to the terms and provisions of the Deed of Easement.] (g) The County has paid on the Closing Date a one-time cash incentive payment in the amount of $ 12J(3) of the Authorizing Act. to the Seller in accordance with Section 60-

Payment of Purchase Price; Incentive Payment. (a) The County has paid on the Closing Date a portion of the Purchase Price in the amount of $ to the Seller and shall pay the balance of the Purchase Price in the amount of $ to the Registered Owner in nine installments on and on the same day in each year thereafter to and including (each an “Installment Payment Date”), in the amounts set forth in Schedule I attached hereto and made a part hereof. (b) Interest on the unpaid balance of the Purchase Price at the fixed rate of interest equal to % per annum shall accrue from the date hereof and shall be payable to the Registered Owner on each Installment Payment Date. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. (c) The Purchase Price and the interest on the unpaid balance thereof are payable in lawful money of the United States of America, at the time of payment. (d) Payment of each installment of the Purchase Price and interest thereon shall be made by the County on each Installment Payment Date to the Registrar. The Registrar shall forward each such payment (other than the final installment of the Purchase Price) on the applicable Installment Payment Date to the person appearing on the registration books of the County maintained by the Registrar as the Registered Owner on the tenth day before the applicable Installment Payment Date, or if such tenth day is not a Business Day, the Business Day next preceding such day, by check or draft mailed to the Registered Owner at the address of the Registered Owner as it appears on such registration books on the tenth day before the applicable Installment Payment Date, or if such tenth day is not a Business Day, the Business Day next preceding such day. The final installment of the Purchase Price shall be paid by the Registrar to the Registered Owner upon presentation and surrender of this Agreement at the office of the Registrar. (e) The County’s obligation to pay the Purchase Price and the interest on the unpaid balance thereof as provided herein is a general obligation of the County, and the full faith and credit and the taxing power of the County are irrevocably pledged to the punctual payment thereof as and when the same become due and payable. (f) [SOLELY FOR FARMS WITH NO EXISTING RESIDENCE The Purchase Price excludes one Development Right, which shall not be subdivided and is retained by County has paid on the Closing Date a one-time cash incentive payment in the amount of $ 12J(3) of the Authorizing Act. to the Seller for the purpose of the construction of one residence on the Land, subject to the terms and provisions of the Deed of Easement.]in accordance with Section 60-

Payment of Purchase Price; Incentive Payment. (a) The County has paid on the Closing Date a portion of the Purchase Price in the amount of $ to the Seller and shall pay the balance of the Purchase Price in the amount of $ to the Registered Owner in nine installments on and on the same day in each year thereafter to and including (each an “Installment Payment Date”), in the amounts set forth in Schedule I attached hereto and made a part hereof. (b) Interest on the unpaid balance of the Purchase Price at the fixed rate of interest equal to % per annum shall accrue from the date hereof and shall be payable to the Registered Owner on each Installment Payment Date. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months. (c) The Purchase Price and the interest on the unpaid balance thereof are payable in lawful money of the United States of America, at the time of payment. (d) Payment of each installment of the Purchase Price and interest thereon shall be made by the County on each Installment Payment Date to the Registrar. The Registrar shall forward each such payment (other than the final installment of the Purchase Price) on the applicable Installment Payment Date to the person appearing on the registration books of the County maintained by the Registrar as the Registered Owner on the tenth day before the applicable Installment Payment Date, or if such tenth day is not a Business Day, the Business Day next preceding such day, by check or draft mailed to the Registered Owner at the address of the Registered Owner as it appears on such registration books on the tenth day before the applicable Installment Payment Date, or if such tenth day is not a Business Day, the Business Day next preceding such day. The final installment of the Purchase Price shall be paid by the Registrar to the Registered Owner upon presentation and surrender of this Agreement at the office of the Registrar. (e) The County’s obligation to pay the Purchase Price and the interest on the unpaid balance thereof as provided herein is a general obligation of the County, and the full faith and credit and the taxing power of the County are irrevocably pledged to the punctual payment thereof as and when the same become due and payable. (f) [SOLELY FOR FARMS WITH NO EXISTING RESIDENCE The Purchase Price excludes one Development Right, which shall not be subdivided and is retained by the Seller for the purpose of the construction of one residence on the Land, subject to the terms and provisions of the Deed of Easement.]