Special Assessment Districts Sample Clauses
The Special Assessment Districts clause defines how costs associated with improvements or services provided by a local government district are allocated to property owners within that district. Typically, this clause outlines the responsibility for payment of special assessments, such as those for new sidewalks, street lighting, or sewer upgrades, and may specify whether the buyer or seller is responsible for these costs in a real estate transaction. Its core function is to clarify financial obligations related to special assessments, thereby preventing disputes and ensuring both parties understand their respective liabilities.
Special Assessment Districts. If the Property is situated within a utility district or flood control district subject to the provisions of Section 49.452 of the Texas Water Code, then Seller shall give to Purchaser as part of the Title Documents the required written notice and Purchaser agrees to acknowledge receipt of the notice in writing. The notice must set forth the current tax rate, the current bonded indebtedness and the authorized indebtedness of the district, and must comply with all other applicable requirements of the Texas Water Code. If the Property is subject to mandatory membership in a property owner’s association, Seller shall notify Purchaser of the current annual budget of the property owners’ association, and the current authorized fees, dues and/or assessments relating to the Property.
Special Assessment Districts. If the Property is situated within a utility district or flood control district subject to the provisions of §49.452 of the Texas Water Code, then Seller shall give to Purchaser the required written notice and Purchaser agrees to acknowledge receipt of the notice in writing. The notice must set forth the current tax rate, the current bonded indebtedness and the authorized indebtedness of the district, and must comply with all other applicable requirements of the Texas Water Code.
Special Assessment Districts. If the Property is determined to be situated within a utility district or other statutorily created district providing water, sewer, drainage, or flood control facilities and services, Chapter 49 of the Texas Water Code requires Seller to deliver to Buyer as part of the title documents the required written notice ("MUD Notice") and Buyer agrees to acknowledge receipt of the MUD Notice in writing prior to the Closing Date. The MUD Notice shall set forth the current tax rate, the current bonded indebtedness and the authorized indebtedness of the district, and must comply with all other applicable requirements of the Texas Water Code. If the Property is subject to mandatory membership in a property owner's association, Seller shall notify Buyer of the current annual budget of the property owners' association, and the current authorized fees, dues and/or assessments relating to the Property. Buyer and Seller hereby agree and acknowledge that Agent shall have no responsibility for determining whether the Property is in any such district, nor the compliance by any party with the requirements applicable to such property. If applicable, Buyer, Seller and their respective legal advisors shall prepare and execute an appropriate Addendum to this Agreement as they deem necessary.
Special Assessment Districts. If owners of property located within the Water Service Area or Sewer Service Area or both petition Blendon for water service or sewer service or both, Blendon will provide the petition to Georgetown if Blendon intends to proceed with an applicable special assessment process. Georgetown will review the petition and determine if capacity is available, if the general requirements of either or both Systems are met, and whether to provide Blendon with preliminary approval. The preliminary approval will include a cost estimate from Georgetown’s engineer. Blendon may then proceed with completing the special assessment district and, upon successful completion, provide notice to Georgetown. Blendon will decide on its method to finance the project, which will not require the consent of Georgetown if Georgetown is not liable for any portion of the financing; other arrangements for the project will be subject to Georgetown’s mutual consent. Georgetown will then proceed with authorizing the design and construction of the project. Blendon will be responsible for collecting all
Special Assessment Districts. None of the Premises is located in any special assessment district, special tax district or other special service district and is not subject to any special assessments, tax incremental financing or similar taxation.
Special Assessment Districts. If the Property is situated within a utility district or flood control district subject to the provisions of Section 50.301, Texas Water Code, then Seller shall give to Purchaser as part of the Title Documents the required written notice and Purchaser agrees to acknowledge receipt of the notice in writing. The notice must set forth the current tax rate, the current bonded indebtedness and the authorized indebtedness of the district, and must comply with all other applicable requirements of the Texas Water Code. If the Property is subject to mandatory membership in a property owner's association, Seller shall notify Purchaser of the current annual budget of the property owners' association, and the current authorized fees, dues and/or assessments relating to the Property.