Common use of Taxes and Operating Expenses Clause in Contracts

Taxes and Operating Expenses. All real estate taxes, charges and assessments affecting the Property (“Taxes”), association dues, charges and assessments, all charges for water, electricity, sewer rental, gas, telephone and all other utilities (“Operating Expenses”) shall be prorated on a per diem basis as of the date of Closing. Taxes shall be prorated based on the assessed value of the Property immediately prior to the conveyance of the Property to Buyer. Buyer acknowledges that the taxes for the current tax year will be based on the assessment attached here as Exhibit K and taxes for the next succeeding tax year shall be based on the Purchase Price. Buyer shall be entitled to all income and responsible for all expenses for the period beginning at 12:01 a.m. (Eastern Time Zone (U.S.A.)) on the date of Closing, except as set forth herein. If any Operating Expenses cannot be conclusively determined as of the date of Closing, the same shall be adjusted at Closing based upon the most recently issued bills thus far, and shall be re-adjusted when and if final bills are issued. Buyer hereby agrees to assume all non-delinquent assessments affecting the Property, whether special or general. Taxes for all years prior to the year in which Closing occurs shall be paid solely by Seller at or prior to Closing. Seller is not presently prosecuting tax abatement proceedings with respect to the Property.

Taxes and Operating Expenses. All real estate taxes, public and private charges and public and private assessments affecting the Property (“"Taxes”"), association dues, charges and assessments, all charges for water, electricity, sewer rental, gas, telephone and all other utilities expenses attributable to the operation of the Property (“Operating Expenses”) "OPERATING EXPENSES"), to the extent not paid directly to the provider of such services by tenants, shall be prorated on a per diem basis as of the date of Closing. , with such Taxes shall be prorated based on and Operating Expenses for the assessed value day of the Property immediately prior Closing allocated to the conveyance Buyer. If any Taxes have not been finally assessed as of the Property to Buyer. Buyer acknowledges that the taxes date of Closing for the current tax fiscal year will be based on of the assessment attached here as Exhibit K and taxes for taxing authority, then the next succeeding tax year same shall be adjusted at Closing based on upon the Purchase Price. Buyer most recently issued bills therefor, and shall be entitled to all income readjusted when and responsible for all expenses for the period beginning at 12:01 a.m. (Eastern Time Zone (U.S.A.)) on the date of Closing, except as set forth hereinif final bills are issued. If any Operating Expenses cannot conclusively be conclusively determined as of the date of Closing, then the same shall be adjusted at Closing based upon the most recently issued bills thus far, far and shall be re-adjusted when and if within one hundred twenty (120) days after the end of the calendar year in which the Closing occurs after final bills Operating Expenses are issueddetermined. Buyer hereby agrees to assume all non-delinquent assessments affecting the Property, whether special or general. Taxes for all years prior to the year in which Closing occurs general except that Seller shall be paid solely by Seller at or responsible for those payments due and owing prior to Closing. Seller is not presently prosecuting tax abatement proceedings with respect Water and sewer charges are to be adjusted for as of the Propertydate of Closing.

Taxes and Operating Expenses. All real estate taxes, charges and assessments affecting the Property (“Taxes”), association dues, charges and assessments, all charges for water, electricity, sewer rental, gas, telephone and all other utilities (“Operating Expenses”) ), to the extent not paid directly by tenants, shall be prorated on a per diem basis as of the date of Closing. Taxes shall be prorated based on the assessed value of the Property immediately prior to the conveyance of the Property to Buyer. Buyer acknowledges that the taxes for the current tax year will be based on the assessment attached here as Exhibit K and taxes for the next succeeding tax year shall be based on the Purchase Price. Buyer shall be entitled to all income and responsible for all expenses for the period beginning at 12:01 a.m. (Eastern Time Zone (U.S.A.)) on the date of Closing, except as set forth herein. If any Operating Expenses canTaxes have not be conclusively determined been finally assessed as of the date of ClosingClosing for the current fiscal year of the taxing authority, then the same shall be adjusted at Closing based upon the most recently issued bills thus fartherefor, and shall be re-adjusted when and if final bills are issued. Buyer hereby agrees to assume all non-delinquent assessments affecting the Property, whether special or general. Taxes If any bills for all years Operating Expenses for periods prior to the year in which Closing occurs are not then available, those amounts shall be paid solely by Seller at or prior to Closingadjusted after Closing within thirty (30) days of receipt of said bills. If Seller is not presently prosecuting tax abatement proceedings with respect proceedings, after the Closing, Seller shall continue to be authorized to prosecute such proceedings, and shall be entitled to any abatement proceeds obtained in connection therewith. Buyer agrees after the Closing, to the Propertyextent reasonably necessary for Seller to continue to prosecute such proceedings, to reasonably cooperate with Seller, at no cost to Buyer, in such prosecution, and also agrees to promptly endorse or pay over to Seller any abatement amounts for such years received by Buyer.

Taxes and Operating Expenses. All real estate taxes, charges and assessments affecting the Property (“Taxes”), association dues, charges and assessments, all charges for water, electricity, sewer rental, gas, telephone and all other utilities (“Operating Expenses”), to the extent not paid directly by tenants, and all common area maintenance charges billed to tenants on an estimated basis (“CAM Charges”) shall be prorated on a per diem basis as of the date of Closing. Taxes shall be prorated Closing based on the assessed value periods to which they relate and are applicable and regardless of when they are payable. Until such time as the Land and the remaining real property of Seller are separately taxed, taxes shall be allocated in accordance with the provisions of the Property immediately prior to the conveyance Declaration. If any Taxes have not been finally assessed as of the Property to Buyer. Buyer acknowledges that the taxes date of Closing for the current tax fiscal year will be based on of the assessment attached here as Exhibit K and taxes for taxing authority, then the next succeeding tax year same shall be adjusted at Closing based on upon the Purchase Price. Buyer most recently issued bills therefor, and shall be entitled to all income re-adjusted when and responsible for all expenses for the period beginning at 12:01 a.m. (Eastern Time Zone (U.S.A.)) on the date of Closing, except as set forth hereinif final bills are issued. If any Operating Expenses or CAM Charges cannot conclusively be conclusively determined as of the date of Closing, then the same shall be adjusted at Closing based upon the most recently issued bills thus far, far and shall be re-adjusted when and if final bills are issuedreadjusted within 120 days after the end of the calendar year in which the Closing occurs. Buyer hereby agrees to assume all non-delinquent assessments affecting the Property, whether special or general. Each of Seller and Buyer shall pay at Closing (or cause the Escrow Agent to pay) all Taxes for all years prior estimated to be due or becoming due during the remainder of the current fiscal tax year of the Town of Norwood as evidenced by the current bills therefor, in which Closing occurs shall be paid solely by Seller at or prior to Closing. Seller is not presently prosecuting tax abatement proceedings accordance with respect to their proportionate shares as set forth in the PropertyDeclaration.

Taxes and Operating Expenses. All real estate taxes, charges and assessments affecting the Property (“Taxes”), association dues, charges and assessments, all charges for water, electricity, sewer rental, gas, telephone and all other utilities (“Operating Expenses”), to the extent not paid directly by tenants, and all common area maintenance charges billed to tenants on an estimated basis (“CAM Charges”) shall be prorated on a per diem basis as of the date of Closing. Taxes shall be prorated Closing (based on the assessed value periods to which they relate and are applicable, and regardless of the Property immediately prior to the conveyance of the Property to Buyer. Buyer acknowledges that the taxes for the current tax year will be based on the assessment attached here as Exhibit K and taxes for the next succeeding tax year shall be based on the Purchase Pricewhen payable). Buyer shall be entitled to all income and responsible for all expenses for the period beginning at 12:01 a.m. (Eastern Time Zone (U.S.A.)) on the date of Closing, except as set forth herein. If any Taxes have not been finally assessed as of the date of Closing for the current fiscal year of the taxing authority, then the same shall be adjusted at Closing based upon the most recently issued bills therefor, and shall be re-adjusted when and if final bills are issued. If any Operating Expenses or CAM Charges cannot conclusively be conclusively determined as of the date of Closing, then the same shall be adjusted at Closing based upon the most recently issued bills thus far, and shall be re-adjusted when and if final bills are issued. Buyer hereby agrees to assume all non-delinquent assessments affecting the Property, whether special or general. Taxes for all years prior to the year in which Closing occurs shall be paid solely by Seller at or prior to Closing. If Seller is not presently prosecuting tax abatement proceedings with respect for any prior tax years, after the Closing, Seller shall continue to the Propertybe authorized to prosecute such proceedings, and shall be entitled to its pro rata share of any such abatement proceeds.