Rights and Obligations Related to Long Term Tax Exemption. (i) All Annual Service Charge payments, as the case may be, made pursuant to this Agreement shall be in lieu of taxes and the Borough shall have the rights and remedies of tax enforcement granted to a municipality by Applicable Law, including those of in rem tax foreclosure pursuant to N.J.S.
Appears in 2 contracts
Samples: Redevelopment Agreement, Financial Agreement
Rights and Obligations Related to Long Term Tax Exemption. (i) A. All Annual Service Charge or Minimum Annual Service Charge payments, as the case may be, made pursuant to this Financial Agreement shall be in lieu of taxes and and, as set forth above, the Borough shall have the rights and remedies of tax enforcement granted to a municipality by Applicable Law, including those of in rem tax foreclosure pursuant to N.J.S.N.J.
Appears in 1 contract
Samples: Financial Agreement
