Common use of Property Taxes and Assessments Clause in Contracts

Property Taxes and Assessments. 15.1 Subject to the provision of Section 15.2 below, Landlord agrees to pay before they become delinquent all real estate taxes and special assessments lawfully levied or assessed against the Leased Premises or any part thereof owned by Landlord; provided, however, Landlord may, at its sole cost and expense dispute and contest the same, and in such case, such disputed item need not be paid until finally adjudged to be valid. The Landlord shall have the right to employ a tax consulting firm to attempt to assure a fair tax burden on the Development with the applicable taxing authority. Tenant agrees to pay Tenant's Proportionate Share of the costs of such consultant. 15.2 Tenant shall be liable for all taxes levied or assessed against any personal property or fixtures placed in the Leased Premises. If any such taxes are levied or assessed against Landlord or Landlord's property and (a) Landlord pays the same, or (b) the assessed value of Landlord's property is increased by inclusion of such personal property and fixtures and Landlord pays the increased taxes, then, upon demand, Tenant shall pay to Landlord such taxes. 15.3 If, at any time during the primary term of this Lease or any renewal or extension thereof, any special assessments should be made against the Development whether for street improvements or other purposes, each monthly installment of Rent required to be paid by Tenant to Landlord under the terms of this Lease shall be increased by a sum equal to the fraction (having a numerator of one and a denominator of the number of months the appropriate governmental agency levying such assessment permits Landlord to pay for same) of the amount of Tenant's Proportionate Share of such assessment, plus interest Landlord must pay thereon. Such increase shall become effective on the first day of the month following the month in which such assessment or expenditure is required to be paid by Landlord and shall continue until the expiration or earlier termination of the Lease Term and any renewals or extensions thereof, or until the expiration of that number of months (being the number of months the appropriate governmental agency levying such assessment permits Landlord to pay for same) after the first such increased Rent payment shall become due, whichever event shall first occur. If, at any time, during the primary term of this Lease or any renewal or extension thereof, any governmental agency or body requires a modification or change in the Leased Premises or any part thereof, Tenant shall pay to the Landlord, on demand, the total cost of such modification or change; provided, however, if any such modifications or change is required to be made to the entire Development, or a building or buildings therein, Tenant shall pay to Landlord, on demand, Tenant's Proportionate Share thereof. Should any governmental body or agency determine that the Tenant's use of the sanitary sewer system serving the Development causes the sewerage standards of the Development to exceed certain maximum permitted requirements promulgated by such governmental body or agency, which causes an increase in the sanitary sewer rates or charges applicable to the building or buildings within the Development, Tenant shall, at the option of the Landlord, be required to (a) pay the amount of such increased charges; or (b) install, at Tenant's sole cost and expense, a separate water meter and sanitary sewer line serving the Leased Premises.

Property Taxes and Assessments. 15.1 Subject All Property Taxes shall be apportioned on the basis of the tax period for which assessed and, unless otherwise specified herein, such apportionment shall be on a calendar year basis. If the Closing Date shall occur either before an assessment is made or a tax rate is fixed for the tax period in which the Closing Date occurs (the "TAX YEAR"), the apportionment of such Property Taxes based thereon shall be made at the Closing Date by applying the tax rate for the preceding tax year to the provision latest assessed valuation, but, promptly after the assessment and/or tax rate for the Tax Year are fixed, the apportionment thereof shall be recalculated. If, after the Closing, the assessed valuation for the Tax Year is increased or reduced from the prior tax year, then the apportionment of Section 15.2 below, Landlord agrees to pay before they become delinquent all such real estate taxes and special assessments lawfully levied or assessed against the Leased Premises or any part thereof owned by Landlord; provided, however, Landlord may, at its sole cost and expense dispute and contest the sameshall be recalculated, and Buyer or Sellers, as the case may be shall make an appropriate payment to the other (based on such recalculation) within ten (10) Business Days of Buyer's and Sellers' receipt of such new assessment and/or tax rate. Any Property Tax refund received by Buyer attributable to the Tax Year shall be prorated between Buyer and Sellers. Sellers shall pay all Assessments for the period prior to the Apportionment Date and Buyer shall pay all Assessments for the period subsequent to the Apportionment Date. Assessments shall mean all levies or charges of every kind and nature, including, but not limited to, assessments for: (i) public improvements or benefits; (ii) for any easement or agreement maintained for the benefit of the Parcel; and (iii) association fees, permits, inspection and license fees, general or special assessments, water, sewer and other utility levies and charges, ground rents or other rents, excise tax levies, and all other governmental charges of every kind and nature, whether general or special, ordinary or extraordinary, or foreseen or unforeseen, in such case, such disputed item need not be paid until finally adjudged to be valid. The Landlord shall have the right to employ a tax consulting firm to attempt to assure a fair tax burden on the Development connection with the applicable taxing authority. Tenant agrees to pay Tenant's Proportionate Share of the costs of such consultantParcel. 15.2 Tenant shall be liable for all taxes levied or assessed against any personal property or fixtures placed in the Leased Premises. If any such taxes are levied or assessed against Landlord or Landlord's property and (a) Landlord pays the same, or (b) the assessed value of Landlord's property is increased by inclusion of such personal property and fixtures and Landlord pays the increased taxes, then, upon demand, Tenant shall pay to Landlord such taxes. 15.3 If, at any time during the primary term of this Lease or any renewal or extension thereof, any special assessments should be made against the Development whether for street improvements or other purposes, each monthly installment of Rent required to be paid by Tenant to Landlord under the terms of this Lease shall be increased by a sum equal to the fraction (having a numerator of one and a denominator of the number of months the appropriate governmental agency levying such assessment permits Landlord to pay for same) of the amount of Tenant's Proportionate Share of such assessment, plus interest Landlord must pay thereon. Such increase shall become effective on the first day of the month following the month in which such assessment or expenditure is required to be paid by Landlord and shall continue until the expiration or earlier termination of the Lease Term and any renewals or extensions thereof, or until the expiration of that number of months (being the number of months the appropriate governmental agency levying such assessment permits Landlord to pay for same) after the first such increased Rent payment shall become due, whichever event shall first occur. If, at any time, during the primary term of this Lease or any renewal or extension thereof, any governmental agency or body requires a modification or change in the Leased Premises or any part thereof, Tenant shall pay to the Landlord, on demand, the total cost of such modification or change; provided, however, if any such modifications or change is required to be made to the entire Development, or a building or buildings therein, Tenant shall pay to Landlord, on demand, Tenant's Proportionate Share thereof. Should any governmental body or agency determine that the Tenant's use of the sanitary sewer system serving the Development causes the sewerage standards of the Development to exceed certain maximum permitted requirements promulgated by such governmental body or agency, which causes an increase in the sanitary sewer rates or charges applicable to the building or buildings within the Development, Tenant shall, at the option of the Landlord, be required to (a) pay the amount of such increased charges; or (b) install, at Tenant's sole cost and expense, a separate water meter and sanitary sewer line serving the Leased Premises.

Property Taxes and Assessments. 15.1 Subject 13.01. For the purposes of this Article 13, Property Taxes are for and pertain to the provision “calendar year” (herein called the “Tax Year”). 13.02. Tenant shall bear Tenant’s Percentage Share of Section 15.2 belowProperty Taxes becoming due and payable during the Lease Term. Tenant shall bear as Additional Rent the expense of Property Taxes for full Tax Years during the Lease Term and, additionally, the expense thereof for the Tax Years in which the Lease Term begins or terminates in the proportion that the number of days the Lease Term exists within each of such Tax Years bears to the total number of days in such year. Since the Premises have been neither built nor assessed yet, the actual Property Taxes will not be known at the time of execution of this Lease. Landlord’s best estimate for such Property Taxes based on similar properties in the Complex is approximately $1.25 per square foot in 2000. 13.03. Special assessments applicable to the Premises and the Common Area which are confirmed and become due and payable, either in full or in part, prior to the Commencement Date shall be remitted by, and be the sole expense of, Landlord, but if such assessments are payable in installments, Landlord agrees shall bear the expense of and remit those installments due and payable prior to pay before they become delinquent all real estate taxes the Commencement Date. Tenant shall bear as Additional Rent the expense of installments due thereafter and special assessments lawfully levied confirmed thereafter, but only to the extent that such assessments become due and payable in full or assessed against in installments during the Leased Premises Lease Term. Those installments becoming due and payable after the termination of the Lease Term shall be the sole responsibility and expense of Landlord. For purposes of this Section, payment in installments over the longest possible term shall be deemed to have been elected in any instance where a determinable option so to pay existed, or may exist, notwithstanding that an assessment may have been or may hereafter be, paid in full, and Tenant shall bear the expense of only such installments as would have become due, payable and delinquent during the Lease Term had the installment option been elected. Tenant’s liability for Tenant’s Percentage Share of Property Taxes for the last Tax Year falling entirely or partly within the Lease Term or any part thereof owned by Landlord; providedExtended Term shall survive the expiration of the Lease Term, however, Landlord may, at its sole cost and expense dispute and contest the same, and in such case, such disputed item need not be paid until finally adjudged to be valid. The Landlord shall have the right to employ a tax consulting firm to attempt to assure a fair tax burden on the Development with the applicable taxing authorityor any Extended Term. 13.04. Tenant agrees to pay shall pay, as Additional Rent, one-twelfth of Landlord’s estimate of Tenant's Proportionate ’s Percentage Share of the costs cost of all Property Taxes for the Tax Year on the first day of each month during such Tax Year. With reasonable promptness after Landlord has received the tax bills for such Tax Year, or in the event of enactment of taxes in replacement of Property Taxes which require the filing of returns, then with reasonable promptness after the filing of the last such return, Landlord shall furnish Tenant with a statement (“Landlord’s Tax Statement”), setting forth the amount of Property Taxes for the Tax Year, and Tenant’s Percentage Share of such consultant. 15.2 Tenant shall be liable for all taxes levied or assessed against any personal property or fixtures placed in the Leased PremisesProperty Taxes. If any Tenant’s Percentage Share of the actual Property Taxes for the Expense Year exceeds the estimated Property Taxes paid by Tenant for such taxes are levied or assessed against Landlord or Landlord's property and (a) Landlord pays the same, or (b) the assessed value of Landlord's property is increased by inclusion of such personal property and fixtures and Landlord pays the increased taxes, then, upon demandTax Year, Tenant shall pay to Landlord the difference between the amount paid by Tenant and Tenant’s Percentage Share of the actual Property Taxes, within 15 days after the receipt of Landlord’s Tax Statement. If the total amount of Property Taxes paid by Tenant for the Tax Year exceeds Tenant’s Percentage Share of the actual Property Taxes for the Tax Year, such taxesexcess shall be credited against the next installment of Property Taxes due from Tenant to Landlord hereunder. 15.3 If13.05. Tenant may request Landlord to pursue such administrative and judicial procedures as may be necessary to contest and appeal any assessment or valuation. If Landlord agrees to pursue such procedures, at then Tenant shall bear all of the costs and expenses related thereto and Tenant agrees to cooperate in all reasonable ways to further any time during such procedure by Landlord. Benefits and expenses resulting from any contest with respect to Property Taxes for the primary term Tax Year in which the Lease Term begins or terminates shall be borne ratably by Tenant and Landlord in proportion to the amount of this Lease or any renewal or extension thereof, any special assessments should be made against the Development whether for street improvements or other purposes, each monthly installment reduction of Rent the tax required to be paid borne by Tenant each pursuant to Landlord under the terms of this Lease shall be increased by a sum equal to the fraction (having a numerator of one and a denominator of the number of months the appropriate governmental agency levying such assessment permits Landlord to pay for same) of the amount of Tenant's Proportionate Share of such assessment, plus interest Landlord must pay thereon. Such increase shall become effective on the first day of the month following the month in which such assessment or expenditure is required to be paid by Landlord and shall continue until the expiration or earlier termination of the Lease Term and any renewals or extensions thereof, or until the expiration of that number of months (being the number of months the appropriate governmental agency levying such assessment permits Landlord to pay for same) after the first such increased Rent payment shall become due, whichever event shall first occur. If, at any time, during the primary term of this Lease or any renewal or extension thereof, any governmental agency or body requires a modification or change in the Leased Premises or any part absence of a contest thereof, Tenant shall pay to the Landlord, on demand, the total cost of such modification or change; provided, however, if any such modifications or change is required to be made to the entire Development, or a building or buildings therein, Tenant shall pay to Landlord, on demand, Tenant's Proportionate Share thereof. Should any governmental body or agency determine that the Tenant's use of the sanitary sewer system serving the Development causes the sewerage standards of the Development to exceed certain maximum permitted requirements promulgated by such governmental body or agency, which causes an increase in the sanitary sewer rates or charges applicable to the building or buildings within the Development, Tenant shall, at the option of the Landlord, be required to (a) pay the amount of such increased charges; or (b) install, at Tenant's sole cost and expense, a separate water meter and sanitary sewer line serving the Leased Premises.

Property Taxes and Assessments. 15.1 Subject to the provision of Section 15.2 belowTenant shall pay, Landlord agrees to pay before they become delinquent delinquent, any and all real estate property taxes or assessments, and special assessments lawfully any other governmental charges, fees or expenses (collectively, the "Taxes"), levied or assessed against on any improvements on the Leased Premises Demised Premises, the personal property and fixtures on the Demised Premises, and, if applicable, upon the leasehold estate of Tenant created hereby. Upon the request of Landlord, Tenant shall from time to time furnish to Landlord "paid receipts" or other written evidence that all such taxes have been paid by Tenant. In the event Tenant shall fail to pay any part thereof owned by Landlord; providedsuch taxes, howeverassessments, Landlord mayor charges prior to delinquency, at its sole cost and expense dispute and contest the same, and in such case, such disputed item need not be paid until finally adjudged to be valid. The Landlord shall have the right to employ a tax consulting firm to attempt to assure a fair tax burden on pay (but not the Development with the applicable taxing authority. Tenant agrees to pay Tenant's Proportionate Share of the costs of such consultant. 15.2 Tenant shall be liable for obligation) or may cause all taxes levied or assessed against any personal property or fixtures placed in the Leased Premises. If any such taxes are levied or assessed against Landlord or Landlord's property and (a) Landlord pays the sametaxes, assessments, or (b) the assessed value of Landlord's property is increased by inclusion of such personal property and fixtures and Landlord pays the increased taxes, then, upon demand, Tenant shall pay to Landlord such taxes. 15.3 If, at any time during the primary term of this Lease or any renewal or extension thereof, any special assessments should be made against the Development whether for street improvements or other purposes, each monthly installment of Rent required charges to be paid and the reasonable costs thereof expended by Tenant to Landlord under the terms plus interest thereon as provided in Section 39 of this Lease shall be paid by Tenant on demand. Subject to the payment of any outstanding Taxes, Tenant may protest, appeal or institute other formal proceedings to effect a reduction or abatement of real estate taxes and assessments with respect to real estate taxes and assessments levied against the improvements on the Demised Premises and/or the Tenant's leasehold interest in the Lease for any tax fiscal year that ends after the Commencement Date of this Lease. Such protest, appeal or other proceedings may be conducted only in the name of Tenant. To this end and at Tenant's expense, Tenant shall give Landlord written notice of any such protest or appeal and resolution thereof. Notwithstanding the foregoing, Tenant shall not contest the determination that the buildings and/or improvements are subject to taxation. If a final (non-appealable) determination is rendered by DCAD or a court of appropriate and competent jurisdiction that any such buildings or other improvements are not subject to property taxation, the rent (as the same may be adjusted) for the year in which such final determination becomes effective shall be increased by a sum an amount equal to the fraction property tax revenue from such buildings and improvements that Tenant would have paid to the Town of Addison, Texas in that year but for such final determination (having a numerator of one and a denominator of the number of months the appropriate governmental agency levying such assessment permits initial increased amount shall be paid to Landlord to pay for same) of the amount of Tenant's Proportionate Share on or before December 31 of such assessmentyear, plus interest Landlord must pay thereon. Such increase shall become effective on the first day of the month following the month in which such assessment or expenditure is required unless otherwise agreed to be paid by Landlord and shall continue until the expiration or earlier termination of the Lease Term and any renewals or extensions thereof, or until the expiration of that number of months (being the number of months the appropriate governmental agency levying such assessment permits Landlord to pay for same) after the first such increased Rent payment shall become due, whichever event shall first occur. If, at any time, during the primary term of this Lease or any renewal or extension thereof, any governmental agency or body requires a modification or change in the Leased Premises or any part thereof, Tenant shall pay to the Landlord, on demand); thereafter, the total cost of such modification or change; providedrent (as the same may be adjusted) as so increased shall continue, however, if any such modifications or change is required subject to be made to the entire Development, or a building or buildings therein, Tenant shall pay to Landlord, on demand, Tenant's Proportionate Share thereof. Should any governmental body or agency determine that the Tenant's use of the sanitary sewer system serving the Development causes the sewerage standards of the Development to exceed certain maximum permitted requirements promulgated by such governmental body or agency, which causes an increase adjustment as set forth in the sanitary sewer rates or charges applicable to the building or buildings within the Development, Tenant shall, at the option of the Landlord, be required to (a) pay the amount of such increased charges; or (b) install, at Tenant's sole cost and expense, a separate water meter and sanitary sewer line serving the Leased Premisesthis Lease.