Common use of Real Estate Taxes Assessments Clause in Contracts

Real Estate Taxes Assessments. ABAG and BAHA are each governmental entities and are not subject to real property taxes. In the event there are any assessments which attach to governmentally owned real property, such assessments shall be prorated and adjusted between BAHA and ABAG as of the Closing Date so that (1) with respect to the Unit, BAHA shall pay, or give ABAG credit for, any such assessments that accrued on or prior to the Closing Date and ABAG shall pay, or assume, any such assessments that accrue after the Closing Date, and (2) with respect to the ABAG Unit, ABAG shall pay, or give BAHA credit for, any such assessments that accrued on or prior to the Closing Date and BAHA shall pay, or assume, any such assessments that accrue after the Closing Date. The obligations of ABAG and BAHA set forth in this Section 8.1 shall survive the Closing.

Real Estate Taxes Assessments. ABAG ABAG, MTC. and BAHA are each governmental entities and are not subject to real property taxes. In the event there are any assessments which attach to governmentally owned real property, such assessments shall be prorated and adjusted between BAHA and ABAG as of the Closing Date so that (1) with respect to the UnitProperty, BAHA shall pay, or give ABAG credit for, any such assessments that accrued on or prior to the Closing Date and ABAG shall pay, or assume, any such assessments that accrue after the Closing Date, and (2) with respect to the ABAG UnitProperty, ABAG shall pay, or give BAHA MTC credit for, any such assessments that accrued on or prior to the Closing Date and BAHA MTC shall pay, or assume, any such assessments that accrue after the Closing Date. The obligations of ABAG ABAG, MTC, and BAHA set forth in this Section 8.1 10(a) shall survive the Closing.