Common use of Taxes and Special Assessments Clause in Contracts

Taxes and Special Assessments. Tenant shall pay, when due and ----------------------------------------- before penalty attaches, all real estate taxes and installments of special assessments, and any similar charges or liens due and payable during the term hereof with respect to the leased premises and improvements situated thereon, provided that election shall be made to pay any special assessment over the longest period allowed by law. For any partial calendar year at the end of the term or any renewal term of this Lease, Tenant shall be responsible for a pro rata portion of such taxes and special assessments due and payable in such calendar year in proportion to the number of days of such calendar year falling within the term or renewal term of this Lease, and appropriate adjustments shall be made at the beginning of the term and at the end of the term or renewal term hereof. Tenant shall be responsible for all taxes and installments of special assessments payable in the year 1995, since Tenant will occupy the leased premises for the entire year, either pursuant to this Lease or pursuant to the Prior Lease (as defined in Article 15 below). In the event any mortgagee of the leased premises requires an escrow account to be maintained for the payment of real estate taxes and special assessments, with respect to the leased premises and improvements situated thereon, Tenant shall fund and make monthly or other periodic payments to such an escrow account all as may be required by such mortgagee. Any funds held in such escrow account in excess of Tenant's accrued liability under this Article 4 shall be the property of Tenant and purchased by Landlord upon expiration or termination of this Lease.

Taxes and Special Assessments. Tenant shall pay, when due and ----------------------------------------- ---------------------------------------- before penalty attaches, all real estate taxes and installments of special assessments, and any similar charges or liens due and payable during the term hereof with respect to the leased premises and improvements situated thereon, provided that election shall be made to pay any special assessment over the longest period allowed by law. For any partial calendar year at the end of the term or any renewal term of this Lease, Tenant shall be responsible for a pro rata portion of such taxes and special assessments due and payable in such calendar year in proportion to the number of days of such calendar year falling within the term or renewal term of this Lease, and appropriate adjustments shall be made at the beginning of the term and at the end of the term or renewal term hereof. Tenant shall be responsible for all taxes and installments of special assessments payable in the year 1995, since Tenant will occupy the leased premises for the entire year, either pursuant to this Lease or pursuant to the Prior Lease (as defined in Article 15 below). In the event any mortgagee of the leased premises requires an escrow account to be maintained for the payment of real estate taxes and special assessments, with respect to the leased premises and improvements situated thereon, Tenant shall fund and make monthly or other periodic payments to such an escrow account all as may be required by such mortgagee. Any funds held in such escrow account in excess of Tenant's accrued liability under this Article 4 shall be the property of Tenant and purchased by Landlord upon expiration or termination of this Lease.