Real Estate Transfer Assessment. The Master Association (as defined in Paragraph 12) will levy a real estate transfer assessment on the sale of the Lot to Purchaser in the amount of two percent (2%) of the Purchase Price. Such real estate transfer assessment shall be paid at the Closing by Seller.
Real Estate Transfer Assessment. 4.1 Subject to Section 12 below and the terms and conditions set forth in this Section 4.1, there is hereby imposed upon the entire Property, a real estate transfer assessment (the “Real Estate Transfer Assessment”) of one percent (1%) of the Purchase Price (defined below) on the sale of homes and residential units.
Real Estate Transfer Assessment. 4.1 The Developer shall impose upon the entirety of the Property a private covenant imposing a real estate transfer assessment of one percent (1%) on the gross sales price on the sale of any home and/or residential unit (the “Real Estate Transfer Assessment”), substantially in the form attached hereto as Exhibit F. Transfers of portions of the Property, including individual homes, residential units and/or lots, as between WSN, WSN affiliated entities, the Yampa Valley Housing Authority and/or the Steamboat Springs School District shall be exempt from the Real Estate Transfer Assessment. In the event the Real Estate Transfer Assessment is determined to be invalid, then in such event WSN shall provide an alternate mechanism (“XXXX Alternate”) to recover normal and customary costs incurred by the City to provide the Property City services typically provided within City limits, including but not limited to police, fire, road maintenance and other City services typically provided within the City limits (the “City Services”), the XXXX Alternate being subject to City approval which approval shall not be unreasonable withheld.
Real Estate Transfer Assessment. Within 30 days of the Effective Date, Developer shall record a covenant against the Property requiring payment of a real estate transfer assessment in the amount of 2% of the consideration paid for each non-exempt transfer of any real property in the Development (the "XXXX"), up to a maximum of $250,000 per transfer. The covenant shall be in substantially the form attached hereto as Exhibit E and incorporated herein by this reference. The funds collected from the XXXX shall be transmitted to the Town, to be deposited in the general fund and used for public purposes as the Town determines necessary.
