Reassessment. In the event the Property has been assessed for property tax purposes at such rates as would result in reassessment (i.e., “escape assessment” or “roll-back taxes”) based upon the change in land usage or ownership of the Property on or after the Closing Date, Buyer hereby agrees to pay all such taxes and to indemnify and save Seller harmless from and against all Liabilities for such taxes. Such indemnity shall survive the Closing and not be merged therein.
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Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Pacific Office Properties Trust, Inc.), Purchase and Sale Agreement (KBS Real Estate Investment Trust II, Inc.)
Reassessment. In the event the Property has been assessed for property tax purposes at such rates as would result in reassessment (i.e., “"escape assessment” " or “"roll-back taxes”") based upon the change in land usage or ownership of the Property on or after the Closing Date, Buyer hereby agrees to pay all such taxes and to indemnify and save Seller harmless from and against all Liabilities for such taxes. Such indemnity shall survive the Closing and not be merged therein.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Capital Lease Funding Inc)
Reassessment. In the event the Property has been assessed for property tax purposes at such rates as would result in reassessment (i.e.e.g., “escape assessment” or “roll-back taxes”) based upon the change in land usage or ownership of the Property on or after the Closing Date, Buyer hereby agrees to pay all such taxes and to indemnify and save Seller harmless from and against all Liabilities liabilities for such taxes. Such indemnity shall survive the Closing and not be merged therein.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Resource Real Estate Opportunity REIT, Inc.)
Reassessment. In the event the Property has been assessed for property tax purposes at such rates as would result in reassessment (i.e., “e.g. "escape assessment” " or “"roll-back taxes”") based upon the change in land usage or ownership of the Property on or after the Closing Date, Buyer Purchaser hereby agrees to pay all such taxes and to indemnify indemnify, defend and save Seller harmless from and against all Liabilities liability for such taxes. Such indemnity shall survive the Closing and not be merged therein.Closing. PURCHASE AND SALE AGREEMENT (XXXXX XXXX) DALLAS/200403
Appears in 1 contract
Reassessment. In the event the Property has been assessed for property tax purposes at such rates as would result in reassessment (i.e., “escape assessment” or “roll-back taxes”) based upon the change in land usage or ownership of the Property on or after the Closing Date, Buyer hereby agrees to pay all such taxes and to indemnify and save Seller harmless from and against all Liabilities for such taxes. Such indemnity shall survive the Closing and not be merged therein.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Inland Real Estate Income Trust, Inc.)
