Prepayments and Escrows. Notwithstanding anything contained herein to the contrary, Purchaser shall reimburse Seller at settlement for prepaid real estate taxes, hazard insurance, assessments and utility charges, if any, on the Condominium Unit, all of which shall be prorated as of the date of settlement. If required by the lender, Purchaser shall prepay at settlement any mortgage insurance premiums, interest for up to one month and a reasonable percentage of the estimated annual real estate taxes. If a separate real estate tax bill has not been issued for the Condominium Unit prior to settlement, Purchaser shall comply with such arrangements as may be established by Seller to assure payment of such taxes.
Prepayments and Escrows. Notwithstanding anything contained in this Agreement to the contrary, Purchaser shall reimburse Seller at settlement for prepaid real estate taxes, insurance premiums, dues and assessments of the Condominium, governmental assessments, utility charges, and other prepaid items, if any, on the Unit, all of which shall be prorated as of the date of settlement and thereafter assumed by Purchaser. If required by a lender, Purchaser shall prepay at settlement any mortgage insurance premiums and a reasonable percentage of the estimated annual real estate taxes. If a separate real estate tax xxxx has not been issued for the Unit prior to settlement, Purchaser shall comply with such arrangements as may be established by Seller to assure payment of such taxes.
Prepayments and Escrows. If required by the lender, Purchaser shall prepay at settlement any mortgage insurance premiums and a percentage of the estimated annual real estate taxes and hazard insurance premiums. If a final real estate tax bill has not been issued for the Property prior to settlement, Purchaser shall comply with such arrangements as may be established by Seller to assure payment of such taxes; any supplemental taxes shall also be prorated to the date of Settlement. The monthly Common Expenses assessment against the Property, as well as all rents, taxes, insurance, and water, sewer and operating charges are to be adjusted to the date of Settlement. Real estate taxes, general and special, are to be adjusted according to the District of Columbia certificate of taxes, except that assessments for improvements completed prior to the date of this Agreement (other than any existing dwelling being purchased hereunder), whether assessment therefore has been levied or not, shall be paid by the Seller, or allowance made therefore at the time of Settlement. Real estate taxes, which are subject to yearly reassessment by the District of Columbia, will be billed directly to the Unit Owner by the District of Columbia. Direct billing may not begin until the next tax year following the tax year in which settlement occurs and Seller may continue to be billed for real estate taxes based on an assessment of the existing tax parcels in the Condominium. If settlement on the Condominium Unit occurs before an individual tax bill for the unit has been issued, Purchaser will be required to reimburse the Seller at settlement for the amount of taxes attributable to the unit being conveyed, prorated from the date of settlement to the end of the tax year. In the event that at the time of Settlement any such item has not been allocated among the Units, the total of said items for the Property shall be allocated among the Units (on an estimated basis, if necessary in accordance with each unit's undivided interest in the Common Elements of the Condominium as set forth in Exhibit B to the Condominium Declaration).
