Common use of Separate Tax Lot Clause in Contracts

Separate Tax Lot. Each portion of the Mortgaged Property described as a separate parcel is assessed for real estate tax purposes as one or more wholly independent tax lot or lots, separate from any adjoining land or improvements not constituting a part of such lot or lots, and no other land or improvements is assessed and taxed together with the Mortgaged Property or any portion thereof.

Appears in 4 contracts

Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (GTJ REIT, Inc.), Open End Mortgage Deed, Assignment of Leases and Rents, Security Agreement and Fixture Filing (GTJ REIT, Inc.), Third Open End Mortgage Deed, Assignment of Leases and Rents, Security Agreement and Fixture Filing (GTJ REIT, Inc.)

AutoNDA by SimpleDocs

Separate Tax Lot. Each portion To the best of Mortgagor's knowledge, the Mortgaged Property described as a separate parcel is assessed for real estate tax purposes as one or more wholly independent tax lot or lots, separate from any adjoining land or improvements not constituting a part of such lot or lots, and no other land or improvements is assessed and taxed together with the Mortgaged Property or any portion thereof.

Appears in 1 contract

Samples: Mortgage, Assignment of Leases and Rents and Security Agreement (FSP 303 East Wacker Drive Corp.)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!