Common use of Payments in Lieu of Real Estate Taxes, Generally Clause in Contracts

Payments in Lieu of Real Estate Taxes, Generally. It is recognized that under the provisions of the Act the Agency is generally required to pay no real estate taxes upon any of the property acquired by it or under its jurisdiction or control or supervision or upon its activities. The Agency and the Lessee agree, however, that the Lessee shall be required to make payments in lieu of real estate taxes with respect to the Facility Realty, payable to the Agency, in the manner and at the time provided in subsection (d) below or at such other times as the Agency may designate in writing. The Agency makes no representation as to the availability of an exemption from real estate taxes for the Facility Realty in the event that the Town Collector of Taxes, the Assessors’ Office of the Town, the Town Surveyor, or any other relevant official of the Town fails to recognize the Agency’s exemption from real estate taxes on the basis of a discrepancy existing between the Facility Realty and the tax map of the Town of Babylon or the existence of another impediment to implementation of the Agency’s exemption contemplated hereunder.

Payments in Lieu of Real Estate Taxes, Generally. It is recognized that under the provisions of the Act the Agency is generally required to pay no real estate taxes upon any of the property acquired by it or under its jurisdiction or control or supervision or upon its activities. The Agency and the Lessee agree, however, that the Lessee shall be required to make payments in lieu of real estate taxes with respect to the Facility Realty, payable to the Agency, in the manner and at the time provided in subsection (d) below or at such other times as the Agency may designate in writing. The Agency makes no representation as to the availability of an exemption from real estate taxes for the Facility Realty in the event that the Town Collector of Taxes, the Assessors’ Office of the Town, the Town Surveyor, or any other relevant official of the Town Town, fails to recognize the Agency’s exemption from real estate taxes on the basis of a discrepancy existing between the Facility Realty and the tax map of the Town of Babylon or the existence of another impediment to implementation of the Agency’s exemption contemplated hereunder.

Payments in Lieu of Real Estate Taxes, Generally. It is recognized that under the provisions of the Act the Agency is generally required to pay no real estate taxes upon any of the property acquired by it or under its jurisdiction or control or supervision or upon its activities. The Agency and the Lessee Company agree, however, that the Lessee Company shall be required to make payments in lieu of real estate taxes with respect to the Facility RealtyLand and the Facility, payable to the Agency, in the manner and at the time provided in subsection (d) below or at such other times as the Agency may designate in writing. The Agency makes no representation as to the availability of an exemption from real estate taxes for the Land or the Facility Realty in the event that the Town Collector of Taxes, the Assessors’ Office of the Town, the Town Surveyor, or any other relevant official of the Town Town, fails to recognize the Agency’s exemption from real estate taxes on the basis of a discrepancy existing between the Land or the Facility Realty and the tax map of the Town of Babylon or the existence of another impediment to implementation of the Agency’s exemption contemplated hereunder.