Tax Amount Unknown. If the Closing shall occur before the tax rate is fixed for the then current year, the apportionment of Taxes shall be made upon 110% of the most current estimate of such Taxes, assuming for estimating purposes that the Real Property will be fully assessed. Seller shall deposit such sum in escrow and all interest earnings on such deposit will be paid to Seller. Title will retain such deposit to pay Seller's share of the actual Taxes and shall pay any excess over to Seller. Seller will pay any deficiency when such general real estate taxes are known.
Appears in 3 contracts
Samples: Purchase Agreement, Purchase Agreement, Purchase Agreement
Tax Amount Unknown. If the Closing shall occur before the tax rate is fixed for the then current year, the apportionment of Taxes shall be made upon 110% of the most current estimate of such TaxesTaxes and Assessment installments, assuming for estimating purposes that the Real Property will be fully assessed. Seller shall deposit such sum in escrow and all interest earnings on such deposit will be paid to Seller. Title will retain such deposit to pay Seller's ’s share of the actual Taxes and installments of Assessments (including interest) payable therewith and shall pay any excess over to Seller. Seller will pay any deficiency when such general real estate taxes are known.
Appears in 1 contract
Samples: Purchase Agreement
