Payment of Special Assessments. Owner herein agrees that Owner shall pay all installments of said Special Assessments when due. In the event Developer fails to timely pay any installment of said Special Assessments, the City may, after providing seven (7) days written notice to Owner, draw upon the Surety (defined below) in an amount equal to the installment due and any actual out of pocket costs incurred by the City in conjunction with the said delinquent Special Assessments. Any such draw may be used by the City to pay for any actual out of pocket costs incurred by the City in conjunction with the said delinquent Special Assessments and, if the City project is bonded, to pay the required yearly debt services payments, with the remainder to be held by the City. Said amount held by the City shall be liquated damages and become the property of City in the event the Developer continually fails to timely pay installments of Special Assessments and the Property or any portion of the Property is tax forfeited as a result thereof. Any Surety funds referred to herein that are withdrawn that will be used by City for payment of its herein-referred debt service payment when due will constitute a credit against the obligations for the Developer to pay such Special Assessments. Upon payment of the delinquent Special Assessments, City will repay to the surety, to the extent that the delinquent Special Assessments have been paid, the surety monies withdrawn, less any costs incurred by City in conjunction with the said delinquent Special Assessments.
Payment of Special Assessments. Seller shall pay in full all special assessments against the Property, if any, before the same become past due; provided, however, if such special assessments arise solely because of the acts of Buyer in attempting to make portions of the Property usable for the Intended Use, Buyer, and not Seller shall be responsible for same.
Payment of Special Assessments a. If not sooner paid, said Special Assessments not deferred as provided below shall be payable in equal installments together with 5.25% interest thereon in accordance with standard City applicable rates over a period of twenty (20) years.
Payment of Special Assessments. Licensee's Special Assessments shall be paid as follows:
Payment of Special Assessments. Seller shall pay in full all special assessments against the Property to the date of Closing, whether any or all installments of such assessments are matured or unmatured.
Payment of Special Assessments. In consideration of the Public Infrastructure Improvements, the Property Owner, for itself and its grantees or other successors with respect to the Property, agrees to pay promptly all special assessments levied against the lots and lands which collectively constitute the Property as they become due, and agrees that the determination by City Council of the special assessments in accordance with the terms hereof will be final, conclusive and binding upon the Property Owner and the Property. In further consideration of the Public Infrastructure Improvements, the Property Owner covenants and agrees to disclose, upon the transfer of the Property or any portion of the Property to be specially assessed for the actual costs of the Public Infrastructure Improvements, in the deed to the transferee the existence of any outstanding special assessment for the Public Infrastructure Improvements and to require that transferee to covenant to disclose that information in any subsequent deed to any transferee so long as the special assessments remain unpaid. As a condition to each subsequent transfer while the special assessments remain unpaid, the Property Owner further covenants and agrees to provide expressly in the deed to any transferee (a) for the acquisition by the transferee of the Property subject to any outstanding special assessment and the transferee’s assumption of responsibility for payment thereof and for the waiver by the transferee of any rights that the Property Owner has waived pursuant to this Petition and (b) the requirement that each transferee from time to time of the Property covenant to include in the deed to any subsequent transferee the conditions described in clause (a) so long as the special assessments remain unpaid.
Payment of Special Assessments. Developer herein agrees that Developer shall pay all installments of the Special Assessment when due. In the event Developer fails to timely pay any installment of the Special Assessment, the City may draw upon the Surety (defined below) in an amount equal to the installment due and any fee and reasonable cost incurred by the City in conjunction with the said delinquent Special Assessment. Any such draw may be used by the City to pay for any fee and reasonable cost incurred by the City in conjunction with the said delinquent Special Assessments and with the remainder to be held by the City to pay any yearly debt services payments related to the Special Assessment. Any Surety funds referred to herein that are withdrawn that will be used by City for payment of its herein-referred uses will constitute a credit against the obligations for the Developer to pay such Special Assessment. Upon payment of the delinquent Special Assessment, City will repay to the Surety, to the extent that the delinquent Special Assessment have been paid, the Surety monies withdrawn, less any reasonable costs incurred by City in conjunction with the said delinquent Special Assessment.
Payment of Special Assessments. The Developer shall pay or cause to be paid when due and in any event, before any penalty is attached, all Special Assessments referred to in this Contract.
Payment of Special Assessments. In consideration of the Public Improvements, the Property Owner, for itself and its grantees or other successors with respect to the Property, agrees to pay promptly all special assessments levied against the lots and lands which collectively constitute the Property as they become due, and agrees that the determination by the Council of the special assessments in accordance with the terms hereof will be final, conclusive and binding upon the Property Owner and the Property. In further consideration of the Public Improvements, the Property Owner covenants and agrees to disclose, upon the transfer of the Property or any portion of the Property to be specially assessed for the actual costs of the Public Improvements, in the deed to the transferee the existence of any outstanding special assessment for the Public Improvements and to require that transferee to covenant to disclose that information in any subsequent deed to any transferee so long as such special assessments remain unpaid. As a condition to each subsequent transfer while such special assessments remain unpaid, the Property Owner further covenants and agrees to provide expressly in the deed to any transferee (a) for the acquisition by such transferee of the Property subject to any outstanding special assessment and such transferee’s assumption of responsibility for payment thereof and for the waiver by such transferee of any rights that the Property Owner has waived pursuant to this Amended Petition and (b) the requirement that each transferee from time to time of the Property covenant to include in the deed to any subsequent transferee the conditions described in clause (a) so long as such special assessments remain unpaid.
Payment of Special Assessments
