Special Assessment. The DDA shall pay all special assessments which have become a lien on the 303 Abbot Property prior to the date of closing, provided, however, that in the event a special assessment is payable in installments, the DDA shall only be responsible those installments covering the years prior to the year of closing, and the Developer or the City, respectively, shall be responsible for all installments covering all years after the year of closing. Installments of special assessments covering the year of closing shall be prorated using the same method set forth in Paragraph 4 above for the proration of real estate taxes.
Appears in 4 contracts
Samples: Land Transfer Agreement, Development Agreement, Development Agreement