Common use of Property Owner's Initial Covenants Clause in Contracts

Property Owner's Initial Covenants. The Property Owner covenants that the Property Owner: (1) is the lawful owner of the Property, and that if more than one person owns the Property, all Property Owners are parties to and have signed this POA; (2) is responsible for and will ensure that the Property Owner complies with all obligations it may have to any financing institutions or other lenders who may have a mortgage interest in the Property; (3) understands and agrees that: (a) the Special Charge (Estimated) as set out Appendix B1 is only an estimate of the Special Charge amount based on the Estimated Cost set out in Appendix A1; (b) the City shall provide the Property Owner from time to time with updated versions of Appendices A2 and B2 (as new information set forth in Appendices A2 and B2 becomes known) to which the Property Owner will then be bound except as otherwise provided in this POA; (c) the maximum Special Charge (Actual) eligible for the Property to be the lesser of ten percent of the Current Value Assessment or $2,000,000; and (d) the City will advise the Property Owner of the Special Charge (Actual) pursuant to Section 16. (4) understands and agrees that by entering into this POA, completing and returning to the City the Pre-Authorized Property Tax Payment Program Form attached as Appendix I, and providing a void blank cheque, the City will automatically enrol the Property Owner in the Pre-Authorized Property Tax Payment Program, which payment program will apply to payment of the Special Charge (Actual), the property taxes payable on the Property, and any other charges that are payable through the Property's tax xxxx.

Property Owner's Initial Covenants. The Property Owner covenants that the Property Owner: (1) is the lawful owner of the Property, and that if more than one person owns the Property, all Property Owners are parties to and have signed this POA; (2) is responsible for and will ensure that has obtained the Property Owner complies consent of all persons with all obligations it may have to any financing institutions or other lenders who may have a mortgage interest in the PropertyProperty to participate in the Program, and has provided such consent to the City; (3) understands and agrees that: (a) the Special Charge (Estimated) as set out Appendix B1 is only an estimate of the Special Charge amount based on the Estimated Cost set out in Appendix A1; (b) the City shall provide the Property Owner from time to time with updated versions of Appendices A2 and B2 (as new information set forth in Appendices A2 and B2 becomes known) to which the Property Owner will then be bound except as otherwise provided in this POA; (c) the maximum Special Charge (Actual) eligible for the Property to be the lesser of ten (10) percent of the Current Value Assessment or $2,000,000125,000; and (d) the City will advise the Property Owner of the Special Charge (Actual) pursuant to Section 16. (4) understands and agrees that by entering into this POA, completing and returning to the City the Pre-Authorized Property Tax Payment Program Form attached as Appendix I, and providing a void blank cheque, the City will automatically enrol the Property Owner in the Pre-Authorized Property Tax Payment Program, which payment program will apply to payment of the Special Charge (Actual), the property taxes payable on the Property, and any other charges that are payable through the Property's tax xxxx.

Property Owner's Initial Covenants. The Property Owner covenants that the Property Owner: (1) 4.1 is the lawful owner of the Property, and that if more than one person owns the Property, all Property Owners are parties to and have signed this POA; (2) is responsible for and will ensure that 4.2 has obtained the Property Owner complies consent of all persons with all obligations it may have to any financing institutions or other lenders who may have a mortgage interest in the PropertyProperty to participate in the Program, and has provided such consent to the Town; (3) 4.3 understands and agrees that: (a) 4.3.1 the Special Charge (Estimated) as set out Appendix B1 is only an estimate of the Special Charge amount based on the Estimated Cost set out in Appendix A1; (b) 4.3.2 the City shall Town may provide the Property Owner from time to time with updated versions of Appendices A2 and B2 (as new information set forth in Appendices A2 and B2 becomes known) which shall form part of this POA and to which the Property Owner will then be bound except as otherwise provided in this POA; (c) 4.3.3 the maximum Special Charge (Actual) eligible for the Property to be the lesser of ten percent of the Current Value Assessment or $2,000,00075,000; and (d) 4.3.4 the City Town will advise the Property Owner of the Special Charge (Actual) pursuant to Section 16. (4) 4.4 understands and agrees that by entering into this POA, completing and returning to the City Town the Pre-Authorized Property Tax Payment Program Form attached as Appendix I, and providing a void blank cheque, the City Town will automatically enrol the Property Owner in the Pre-Authorized Property Tax Payment Program, which payment program will apply to payment of the Special Charge (Actual), the property taxes payable on the Property, and any other charges that are payable through the Property's tax xxxx. Prior to completion of the Work, the Town will pay the Initial Disbursement indicated in Appendix A1 to the Property Owner.

Property Owner's Initial Covenants. The Property Owner covenants that the Property Owner: (1) 4.1 is the lawful owner of the Property, and that if more than one person owns the Property, all Property Owners are parties to and have signed this POA; (2) is responsible for and will ensure that the Property Owner complies with all obligations it may have to any financing institutions or other lenders who may have a mortgage interest in the Property; (3) 4.2 understands and agrees that: (a) 4.1.1 the Special Charge (Estimated) as set out Appendix B1 is only an estimate of the Special Charge amount based on the Estimated Cost set out in Appendix A1; (b) 4.1.2 the City shall Town may provide the Property Owner from time to time with updated versions of Appendices A2 and B2 (as new information set forth in Appendices A2 and B2 becomes known) which shall form part of this POA and to which the Property Owner will then be bound except as otherwise provided in this POA; (c) 4.1.3 the maximum Special Charge (Actual) eligible for the Property to be the lesser of ten percent of the Current Value Assessment or $2,000,00075,000; and (d) 4.1.4 the City Town will advise the Property Owner of the Special Charge (Actual) pursuant to Section 16. (4) 4.3 understands and agrees that by entering into this POA, completing and returning to the City Town the Pre-Authorized Property Tax Payment Program Form attached as Appendix I, and providing a void blank cheque, the City Town will automatically enrol the Property Owner in the Pre-Authorized Property Tax Payment Program, which payment program will apply to payment of the Special Charge (Actual), the property taxes payable on the Property, and any other charges that are payable through the Property's tax xxxxbill.

Property Owner's Initial Covenants. The Property Owner covenants that the Property Owner: (1) is the lawful owner of the Property, and that if more than one person owns the Property, all Property Owners are parties to and have signed this POA; (2) is responsible for and will ensure that the Property Owner complies with all obligations it may have to any financing institutions or other lenders who may have a mortgage interest in the Property; (3) understands and agrees that: (a) the Special Charge (Estimated) as set out Appendix B1 is only an estimate of the Special Charge amount based on the Estimated Cost set out in Appendix A1; (b) the City Town shall provide the Property Owner from time to time with updated versions of Appendices A2 and B2 (as new information set forth in Appendices A2 and B2 becomes known) to which the Property Owner will then be bound except as otherwise provided in this POA; (c) the maximum Special Charge (Actual) eligible for the Property to be the lesser of ten thirty percent of the Current Value Assessment or $2,000,000250,000; and (d) the City Town will advise the Property Owner of the Special Charge (Actual) pursuant to Section 16. (4) understands and agrees that by entering into this POA, completing and returning to the City Town the Pre-Authorized Property Tax Payment Program Form attached as Appendix IH, and providing a void blank cheque, the City Town will automatically enrol enroll the Property Owner in the Pre-Authorized Property Tax Payment Program, which payment program will apply to payment of the Special Charge (Actual), the property taxes payable on the Property, and any other charges that are payable through the Property's tax xxxx.