Right to Collect Delinquent Taxes. The Developer acknowledges that the EDA is providing substantial aid and assistance in furtherance of the Project through reimbursement of Public Development Costs. To that end, the Developer agrees for itself, its successors and assigns, that in addition to the obligation pursuant to statute to pay real estate taxes, it is also obligated by reason of this Agreement, to pay before delinquency all real estate taxes assessed against the Development Property and the Project. The Developer acknowledges that this obligation creates a contractual right on behalf of the EDA through the Termination Date to xxx the Developer or its successors and assigns, to collect delinquent real estate taxes related to the Development Property and any penalty or interest thereon and to pay over the same as a tax payment to the county auditor. In any such suit in which the EDA is the prevailing party, the EDA shall also be entitled to recover its costs, expenses and reasonable attorney fees.
Right to Collect Delinquent Taxes. The Developer acknowledges that the City and the County are providing substantial aid and assistance in furtherance of the Minimum Improvements pursuant to this Agreement. The Developer understands that the City Abatement and County Abatement pledged pursuant to this Agreement are derived from real estate taxes on the Development Property, which taxes must be promptly and timely paid. To that end, the Developer agrees for itself, its successors and assigns, that in addition to the statutory obligation to pay real estate taxes, it is also obligated by reason of this Agreement to pay, before delinquency, all undisputed real estate taxes assessed against the Development Property and the Minimum Improvements. The Developer acknowledges that this obligation creates a contractual right on behalf of the City and the County through the Termination Date to declare an Event of Default or sue the Developer or its successors and assigns to collect delinquent real estate taxes and any penalty or interest thereon and to pay over the same as a tax payment to the county auditor. In any such suit, the City, and the County shall also be entitled to recover its costs, expenses and reasonable attorney fees. Property taxes shall not be deemed delinquent under this Section 6.1 if the Developer is contesting such property taxes under procedures allowed pursuant to this Agreement.
Right to Collect Delinquent Taxes. The Developer acknowledges that the Authority is providing substantial aid and assistance in furtherance of the development through issuance of the TIF Bonds. The Developer understands that the Tax Increments pledged to payment on the TIF Bonds are derived from real estate taxes on the Development Property, which taxes must be promptly and timely paid. To that end, the Developer agrees for itself, its successors and assigns, in addition to the obligation pursuant to statute to pay real estate taxes, that it is also obligated until the Maturity Date by reason of this Agreement to pay before delinquency all real estate taxes assessed against the Development Property and the Minimum Improvements. The Developer acknowledges that until the Maturity Date, this obligation creates a contractual right on behalf of the Authority to sue the Developer or its successors and assigns to collect delinquent real estate taxes and any penalty or interest thereon and to pay over the same as a tax payment to the county auditor. In any such suit, the Authority shall also be entitled to recover its costs, expenses and reasonable attorney fees.
Right to Collect Delinquent Taxes. The Developer acknowledges that the City is providing substantial aid and assistance in furtherance of the completion of the Minimum Improvements through issuance of the TIF Note. The Developer understands that the Tax Increment pledged to payment of the TIF Note is derived from real estate taxes on the Development Property and the Minimum Improvements, which taxes must be promptly, timely and fully paid. To that end, the Developer agrees for itself, its successors and assigns, in addition to the obligation pursuant to State Statute to pay real estate taxes, that it is also obligated by reason of this Agreement, through the Termination Date, to pay before delinquency all ad volarem taxes and special assessments levied on the Development Property and the Minimum Improvements. The Developer acknowledges that this obligation creates a contractual right on behalf of the City to xxx the Developer or its successors and assigns to collect delinquent real estate taxes, and any penalty or interest thereon, and to pay over the same as a tax payment to the County. In any such suit, the City shall also be entitled to recover from the Developer the City’s costs, expenses and reasonably attorney fees. Nothing in this Section shall prevent the Developer from contesting the amount of real estate taxes (whether because of valuation, classification or otherwise, but subject always to the requirements and restrictions of the Assessment Agreement) in accordance with state law.
Right to Collect Delinquent Taxes. After Closing, Xxxxxxxxx agrees for itself, its successors and assigns, in addition to the obligation pursuant to statute to pay real estate taxes, that it is also obligated by reason of this Agreement to pay before delinquency all real estate taxes assessed against the Development Property and the Minimum Improvements. Developer acknowledges that this obligation creates a contractual right on behalf of the City through the Termination Date to sue Developer or its successors and assigns to collect delinquent real estate taxes and any penalty or interest thereon and to pay over the same as a tax payment to the county auditor. In any such suit in which the City is the prevailing party, the City shall also be entitled to recover its costs, expenses and reasonable attorneys’ fees.
Right to Collect Delinquent Taxes. The Developer acknowledges that the City is providing substantial aid and assistance in furtherance of the Minimum Improvements through reimbursement of the Public Redevelopment Costs with Pledged Tax Increments. The Developer understands that the Pledged Tax Increments are derived from real estate taxes on the Development Property, which taxes must be promptly and timely paid. To that end, the Developer agrees for itself, its successors and assigns, that in addition to the obligation pursuant to statute to pay real estate taxes, it is also obligated by reason of this Agreement, to pay before delinquency all real estate taxes assessed against the Development Property and the Minimum Improvements. The Developer acknowledges that this obligation creates a contractual right on behalf of the City to sue the Developer or its successors and assigns, to collect delinquent real estate taxes and any penalty or interest thereon and to pay over the same as a tax payment to the County auditor. In any such suit, the City shall also be entitled to recover its costs, expenses and reasonable attorney fees.
Right to Collect Delinquent Taxes. Developer acknowledges that the Authority is providing substantial aid and assistance in furtherance of the construction of the Minimum Improvements, Developer understands that, while the Development Property itself is not located within a tax increment financing district, one purpose of the assistance under this Agreement is to increase the property tax base of the City. To that end, Developer agrees, pursuant to statute to pay or cause to be paid, before delinquency, all real estate taxes assessed against the Development Property and the Minimum Improvements.
Right to Collect Delinquent Taxes. The Developer acknowledges that the Authority and the City are providing substantial aid and assistance in furtherance of the Project through reimbursement of Public Development Costs. To that end, the Developer agrees for itself, its successors and assigns, that in addition to the obligation pursuant to statute to pay real estate taxes, it is also obligated by reason of this Agreement, to pay before delinquency all real estate taxes assessed against the Development Property and the Project. The Developer acknowledges that this obligation creates a contractual right on behalf of the Authority and the City through the Termination Date to xxx the Developer or its successors and assigns, to collect delinquent real estate taxes related to the Development Property and any penalty or interest thereon and to pay over the same as a tax payment to the county auditor. In any such suit in which the Authority or the City is the prevailing party, the Authority and the City, respectively, shall also be entitled to recover its costs, expenses and reasonable attorney fees.
Right to Collect Delinquent Taxes. Developer acknowledges that the EDA and City are providing substantial aid and assistance in furtherance of the development described in this Agreement. Developer understands that, while the Development Property itself is not located within a tax increment financing district, one purpose of the assistance under this Agreement is to increase the property tax base of the City. To that end, Developer agrees for itself, its successors and assigns, that in addition to the obligation pursuant to statute to pay real estate taxes, it is also obligated by reason of this Agreement to pay before delinquency all real estate taxes assessed against the Development Property and all improvements thereon. Developer acknowledges that this obligation creates a contractual right on behalf of the EDA through the Termination Date to declare an Event of Default or xxx Developer or its successors and assigns to collect delinquent real estate taxes and any penalty or interest thereon and to pay over the same as a tax payment to the county auditor. In any such suit, the EDA shall also be entitled to recover its costs, expenses and reasonable attorney fees.
Right to Collect Delinquent Taxes. S & B Realty agrees to cause, and shall cause, Xxxx Theatres to comply with this Section 6.1. Each of S & B Realty and Xxxx Theatres acknowledges that the EDA is providing substantial aid and assistance by making a grant to S & B Realty, the proceeds of which S & B Realty will lend to Xxxx Theatres to finance the construction of the Minimum Improvements. To that end, Xxxx Theatres agrees for itself, its successors and assigns, ·that in addition to the obligation pursuant to statute to pay real estate taxes, it is also obligated by reason of this Agreement, during any time that S & B Realty owns the Development Property or any part thereof, to pay before delinquency all real estate taxes assessed against the Development Property and the Minimum Improvements. Xxxx Theatres and S & B Realty acknowledge that this obligation creates a contractual right on behalf of the EDA through the Termination Date to xxx Xxxx Theatres and/or S & B Realty or its successors and assigns to collect delinquent real estate taxes and any penalty or interest thereon and to pay over the same as a tax payment to the county auditor. In any such suit in which the EDA is the prevailing party, the EDA shall also be entitled to recover its costs expenses and reasonable attorney fees.
