Roll Back Taxes. If the Property is under a special land use assessment and roll back taxes are assessed due to a change in use by Xxxxx, then Buyer shall be solely responsible for any roll back taxes, or recapture that may be assessed.
Roll Back Taxes. If the Property has been ---------------- assessed as "open space" or "agricultural" land, Buyer agrees to pay all subsequent ad valorem tax assessments and penalties for any period prior to the Closing due to any change in ownership or usage of the Property. The foregoing provisions shall survive termination of this Contract.
Roll Back Taxes. As noted in Section 1.a(ii) above, the Parties agree to that any and all claims to any roll-back taxes that may be owed by the Defendants and/or their predecessors in title as a result of property subject to this Agreement being classified, or having been classified under Chapter 61 of the Massachusetts General Laws, shall be addressed at the Closing where the purchase price for the Chapter 61 forestry land shall be increased by the amount of roll-back taxes determined by the Hopedale Board of Assessors. The Town shall pay the increased purchase price and then within five (5) business days the Defendant shall pay the full amount of the roll-back taxes to the Town.
Roll Back Taxes. Except as set forth on Section 4.15F of the Stockholders’ Disclosure Schedule, the Real Property is not and will not be subject to any “roll-back” tax or similar tax subjecting the owner of such Real Property to any retroactive assessment.
Roll Back Taxes. IF THIS SALE OF THE PROPERTY OR BUYER’S USE OF THE PROPERTY AFTER CLOSING RESULTS IN THE ASSESSMENT OF ADDITIONAL TAXES, PENALTIES AND/OR INTEREST FOR PERIODS PRIOR TO CLOSING, BUYER IS SOLELY RESPONSIBLE FOR THE PAYMENT OF SUCH ADDITIONAL TAXES, PENALTIES AND/OR INTEREST.
Roll Back Taxes. If and to the extent the Premises were to be subjected to a "rollback" of Taxes for any period during Tenant's tax abatement period (notwithstanding any provisions of Tenant's tax abatement agreement to the contrary), Landlord and Tenant, upon the request of either party, shall make such adjustments to Taxes with respect to any periods which may be subject to any such rollback of Taxes so as to ensure that Tenant's obligation shall be the payment of Tenant's proportionate share of any Taxes during the Term of this Lease. Nothing contained herein shall affect Tenant's rights or Landlord's obligations pursuant to the first grammatical paragraph of Section 17(a) of the original Lease with respect to the adjustment of additional rental in the event Tenant elects to provide its own janitorial services to the Premises.
Roll Back Taxes. If any action or inaction by Seller before Closing causes any rollback taxes to become due upon any portion of the 200 acre portion of the Real Property that is not being used as agricultural land, which portion was removed from the active orchard to unusable land, Seller shall be responsible for the prompt payment of all rollback taxes for the period of Seller’s ownership of said 200 acre portion. Should any rollback taxes become due after the Closing Date, Buyer shall be responsible for the immediate payment of all rollback taxes assessed from the Closing Date forward.
Roll Back Taxes. If applicable, Seller will pay upon receipt from Purchaser of a statement showing any additional taxes that are attributable to any period prior to Closing that may become due as a result of a change in usage or ownership of the Land (“Roll-Back Taxes”), regardless of whether the change occurs before or after Closing. At Closing, Seller shall deposit with the Title Company an amount equal to 110% of the estimated Roll Back Taxes (“Roll-Back Taxes Deposit”) as if the change in usage or ownership occurred at Closing. Following Closing: (i) Seller shall pay the Roll-Back Taxes for the Land on or before the day that they become delinquent (the “Rollback Taxes Payment Date”) and deliver evidence of same to Purchaser and the Title Company by the Rollback Taxes Payment Date, (ii) if Seller does not deliver to Purchaser and the Title Company evidence reasonably acceptable to Purchaser that Seller has paid the applicable Roll-Back Taxes by the Rollback Taxes Payment Date, then at the request of Purchaser (which request shall also be sent to Seller) the Title Company shall pay the Roll-Back Taxes for the Land with the proceeds from the Roll-Back Taxes Deposit and any additional amounts that Seller has deposited with the Title Company, (iii) if the proceeds available from the Roll-Back Taxes Deposit are insufficient to pay the Roll-Back Taxes, at Purchaser’s request Seller shall deposit said insufficiency with the Title Company to be disbursed pursuant to the terms of this Section 7.05, (iv) if Seller delivers to Purchaser and the Title Company evidence reasonably acceptable to Purchaser that Seller has paid the Roll-Back Taxes, on or before the Rollback Taxes Payment Date then the Title Company shall release the Roll-Back Taxes Deposit to Seller. If Seller and the Title Company fail to perform their respective obligations pursuant to this section, Purchaser may elect to pay the Roll-Back Taxes. Within 10 days after receipt of notice from Purchaser (which notice will also be sent to Seller) the Title Company shall pay to Purchaser out of the Rollback Taxes Deposit (i) the amount of the Roll-Back Taxes paid by Purchaser and (ii) any reasonable out-of-pocket costs incurred by Purchaser relating thereto. Seller shall pay to Purchaser within 10 days after receipt of notice from Purchaser (i) the amount of the Roll-Back Taxes paid by Purchaser not paid to Purchaser pursuant to the preceding sentence together with interest thereon from the date of payment by Purchaser unti...
Roll Back Taxes. Purchaser acknowledges that a portion of the parcel of Owned Real Property located at 000 Xxxxxxxxx Xxxx xx Xxxxxxxxx, Xxx Xxxxxx (“Farmland Property”) is taxed as an eligible agricultural or horticultural use pursuant to the New Jersey Farmland Assessment Act of 1964 (“Eligible Use”). Purchaser covenants that, for the period beginning on the Closing Date and continuing until the end of the third tax year following the Closing Date, (i) Purchaser shall timely file all required applications to maintain the Eligible Use, and (ii) Purchaser shall not change, or permit to be changed, the use of the Farmland Property from an Eligible Use, or take any other actions that would trigger roll-back tax liability relating to the period of Seller’s ownership of the Farmland Property.”
Roll Back Taxes. Seller has not taken any action that would, or failed to take any action which failure would, reasonably be expected to cause a change in the classification of the Seller Land for Roll-back Tax purposes.
