Proration of Taxes and Assessments. (a) Current ad valorem taxes and Assessments under the Deed Restrictions, will be prorated on each Lot as of the date of the applicable Closing. Seller will pay any rollback taxes attributable to the Lots having been assessed at special use valuations or under any agricultural or open-space exemption. If the Subdivision or the Lots to be closed at a particular Closing are taxed as a part of a larger parcel, Seller will, at such Closing, deposit in escrow with the Title Company sufficient funds to pay all of the taxes for the current period and any prior periods on the larger tax parcel.
Proration of Taxes and Assessments. Real property taxes and other governmental taxes and assessments for the calendar year in which the Closing Date occurs, including special assessments levied prior to the Closing Date, or any installments thereon required to be paid during the calendar year in which the Closing occurs, shall be prorated between Seller and Purchaser as of the Closing Date.
Proration of Taxes and Assessments. Taxes and Assessments for the calendar years during which the Commencement Date and the Expiration Date occur shall be prorated so that Tenant pays only that portion of the Taxes and Assessments for such calendar years allocable to periods of time during the Term. Such proration shall be computed and made as soon as practicable after the Commencement Date and the Expiration Date.
Proration of Taxes and Assessments. If LESSEE’s obligation to pay taxes or assessments commences or ends during a tax year (rather than at the beginning or end of a tax year), such obligation shall be prorated between LESSOR and LESSEE.
Proration of Taxes and Assessments. Ad valorem taxes and assessments on the City Property, if any, and taxes upon this Agreement or any rights hereunder, levied, assessed or imposed for any period commencing prior to conveyance of title shall be borne by the City. All such ad valorem taxes and assessments levied or imposed for any period commencing after closing of the escrow shall be paid by the Developer. All such ad valorem taxes and assessments shall be prorated by the Escrow Agent as between the City and the Developer as of the Closing Date consistent with the preceding provisions of this Section 209.
Proration of Taxes and Assessments. Ad valorem taxes and assessments on the Public Access Parcels and Sliver Parcel, if any, and taxes upon this Agreement or any rights hereunder, levied, assessed or imposed for any period commencing prior to conveyance of title shall be borne by the City. All such ad valorem taxes and assessments levied or imposed for any period commencing after closing of the escrow shall be paid by the Developer. All such ad valorem taxes and assessments shall be prorated by the Escrow Agent as between the City and the Developer as of the Closing Date consistent with the preceding provisions.
Proration of Taxes and Assessments. All real property ad valorem taxes, general or special assessments and other charges applicable to the Property (collectively, "Real Property Taxes") shall be prorated as of the Closing Date between Seller and Purchaser, and at time of closing Seller will pay to Purchaser (or the closing agent) Seller's pro rata share of such taxes, assessments and other applicable charges as determined by the Charlotte County Property Appraiser, the Charlotte County Tax Collector and/or other applicable governmental authority. If Seller has paid the Real Property Taxes for the year in which the Closing occurs, Purchaser shall pay to Seller (at the Closing) Purchaser's share of such Real Property Taxes allocable to the portion of the tax year after the Closing.If the real property ad valorem taxes, general assessments and other charges applicable to the Property are not available at Closing, then they shall be estimated based upon the most recent information available. If the foregoing are estimated, Purchaser and Seller agree to reprorate same once the actual xxxx is received. The payments under this Section shall be handled as adjustments to the Purchase Price at the Closing.
Proration of Taxes and Assessments. All real property ad valorem taxes, general or special assessments and other charges applicable to the Property, for the year of closing, shall be prorated as of the Closing Date between Seller and Purchaser, and at time of closing Seller will pay to County Tax Collector Seller's pro rata share of such taxes, assessments and other applicable charges as determined by the Charlotte County Property Appraiser, the Charlotte County Tax Collector and/or other applicable governmental authority. If the real property ad valorem taxes, general assessments and other charges applicable to the Property are not available at Closing, then they shall be estimated based upon the most recent information available. If the foregoing is estimated, Purchaser and Seller agree to reprorate same once the actual xxxx is received.
Proration of Taxes and Assessments. All taxes and assessments attributable to the Land (including any improvements contained thereon) (collectively, “Taxes”), shall be based on the current year’s taxes and prorated between Purchaser and Seller as of 11:59 p.m. on the day immediately preceding the Closing Date. If the current year’s Taxes are not known at Closing, estimates based on the last available tax bxxx(s) shall be used. On the Closing Date, such Taxes not yet due and payable shall be paid by Purchaser and prorated as aforesaid between Seller and Purchaser for the tax year in which Closing occurs. At Closing, Seller shall pay or credit on Purchase Price all delinquent taxes, including penalty and interest, all assessments that are a lien on the date of Contract and all agricultural use tax recoupments for years prior to the year of Closing. At Closing, Seller shall also pay or credit toward the Purchase Price (a) all other unpaid real estate taxes that are a lien for years prior to the year of Closing, prorated through the Closing Date and based on a 365-day year and, if undetermined, on most recent available tax rate and valuation, giving effect to applicable exemptions, recently voted millage, change in valuation, etc., whether or not certified; and (b) any transfer tax, agricultural use tax recoupment or similar fee imposed by law because of the transfer of the Property to Purchaser. All tax and assessment credits and prorations shall be final at closing.
Proration of Taxes and Assessments. At the Closing for each Phase, Purchaser shall receive a credit for any accrued but unpaid general real estate taxes and special assessments for the respective Phase (including without limitation any special assessments imposed by private covenant, “Taxes”) applicable to any period before the Closing Date for the respective Phase, even if such Taxes are not yet due and payable. If the amount of any Taxes has not been determined as of Closing for the respective Phase, such credit shall be based on 110 % of the most recent ascertainable Taxes and shall be reprorated upon issuance of the final tax bxxx. The provisions of this Section 6.1 shall survive each Closing. As of the Agreement Date, each Phase is taxed as a portion of the Property. Seller shall pay when due all Taxes payable with respect to the Property (other than with respect to any Phase conveyed to Purchaser). Seller and Purchaser shall execute and deliver such documentation before and after Closing for each Phase as may be necessary to cause the respective Phase to be assessed as a separate parcel, which obligation shall survive the Closing for the respective Phase. If any portion of a Phase has been designated or valued as agricultural, open space or other special category such that its sale or change of use would trigger the imposition of any “rollback” or “catch up” tax, Seller shall be responsible for any such taxes and interest on such taxes applicable to any period prior to Closing for the respective Phase, subject, however, to the last sentence of this paragraph. If the amount of Seller’s share of such taxes and interest can be definitively determined at the Closing, then the amount of such Seller obligation shall serve as a credit against the Purchase Price. If such amount cannot be absolutely determined, then at the Closing, Seller shall deposit into an escrow established by Seller and Purchaser 125% of the parties’ estimate of such obligation, or such greater amount as the Title Company may require in order to issue the Title Policy without exception for such taxes (if such exception can be deleted under applicable title insurance regulations). At such time as the actual liability of Seller is determined, the funds retained shall be applied to payment of such taxes and interest and any excess in such escrow account shall be paid to Seller. Notwithstanding the above, if additional funds are required to cover the rollback obligation, Purchaser shall be liable for such excess amount.
