Common use of Taxes, Assessments and Charges Clause in Contracts

Taxes, Assessments and Charges. (a) Mortgagor shall, in addition to and concurrently with the monthly installments of interest, pay to the Mortgagee installments of casualty insurance premiums and taxes and assessments assessed or levied upon the Mortgaged Property, as well as all taxes for which any party in whom title to the Mortgaged Property shall or may hereafter vest, may be or become liable under any present or future law of the United States of America or of the State of New Jersey and which, under the provisions of such laws, may be or become a lien upon the Mortgaged Property or have priority in payment of the mortgage debt out of the proceeds of any judicial sale of the Mortgaged Property. Such installments shall be equal respectively to 1/12 of the annual amount of such premiums, taxes and assessments as are estimated by Mortgagee and shall be held by Mortgagee to pay premiums, assessments and taxes when due. No amount so paid shall be deemed to be trust funds but may be commingled with general funds of Mortgagee, and no interest shall be payable thereon. If, pursuant to any provision of this Mortgage, the whole amount of the unpaid principal debt becomes due and payable, Mortgagee shall have the right, at its election, to apply any amount so held against the entire indebtedness secured hereby. Notwithstanding the foregoing, Mortgagee waives the right to collect installments of insurance premiums prior to an Event of Default hereunder.

Taxes, Assessments and Charges. (a) Mortgagor shallSection 4.1 Throughout the term of this Lease, in addition Lessee shall pay and discharge, prior to delinquency, all taxes, assessments, impositions and concurrently with the monthly installments of interest, pay to the Mortgagee installments of casualty insurance premiums and taxes and assessments charges whatsoever assessed or levied imposed upon the Mortgaged Propertyleased Premises, any improvements thereon and all personal property located on or in the leased Premises as well as all taxes for which any party in whom title to the Mortgaged Property shall or may hereafter vest, may be or they become liable under any present or future law of the United States of America or of the State of New Jersey and which, under the provisions of such laws, may be or become a lien upon the Mortgaged Property or have priority in payment of the mortgage debt out of the proceeds of any judicial sale of the Mortgaged Property. Such installments shall be equal respectively to 1/12 of the annual amount of such premiums, taxes and assessments as are estimated by Mortgagee and shall be held by Mortgagee to pay premiums, assessments and taxes when due. No amount so paid shall be deemed to be trust funds but may be commingled with general funds of Mortgagee, and no interest shall be payable thereon. If, pursuant to any provision of this Mortgage, the whole amount of the unpaid principal debt becomes due and payable, Mortgagee and Lessee shall, upon written request from Lessor, submit to Lessor proper and sufficient receipts or other evidence of the payment and discharge of the same; provided, however, if the Premises real property taxes, assessments or other charges are not imposed separately from the building of which they form a part, then the Lessee shall pay sixty percent (60%) thereof as its pro rata portion. Lessee shall also pay sixty percent (60%) of all taxes, assessments, or other charges levied against all Common Building Improvements as defined in Section 14.3 hereof. Lessor will promptly forward any tax statements it shall receive pertaining to all or part of Lessee's premises. If taxes, assessments, or other charges are imposed on areas of the property which do not comprise or affect the Premises and are not Common Building Improvements, Lessor shall pay one hundred percent (100%) of said taxes. In the event any such taxes, assessments, impositions or charges should not be paid when due, Lessor shall have the right, at its electionbut shall not be obligated, to apply pay the same. If Lessor shall make such payments, it shall thereupon become entitled to repayment by Lessee on demand, together with interest thereon as provided in Article 19. Lessee may elect to let any amount so held against improvement assessment go to bond in accordance with applicable law. Taxes and assessments levied or imposed preceding the entire indebtedness secured herebyexpiration or termination of this Lease, including payments on improvement bonds, shall be prorated as of the date of termination of this Lease. Notwithstanding Public improvement assessments previously wholly or partially paid by Lessee shall be prorated on the foregoingbasis of a 30-year amortization term as of the termination date of this Lease or any extension hereof, Mortgagee waives and Lessee shall be reimbursed for the right to collect installments unexpired portion of insurance premiums prior to an Event such 30-year period; provided, however, that Lessee shall pay, as its pro rata share, sixty percent (60%) of Default hereunderall improvement assessments and the like which are not assessed separately from the building of which they form a part. The first year and last year of the term of this Lease will be prorated between Lessor and Lessee.

Taxes, Assessments and Charges. (a) Mortgagor shallSection 4.1. Throughout the term of this Lease, in addition Lessee shall pay and discharge, prior to delinquency, all taxes, assessments, impositions and concurrently with the monthly installments of interest, pay to the Mortgagee installments of casualty insurance premiums and taxes and assessments charges whatsoever assessed or levied imposed upon the Mortgaged Propertyleased Premises, any improvements thereon and all personal property located on or in the leased Premises as well as all taxes for which any party in whom title to the Mortgaged Property shall or may hereafter vest, may be or they become liable under any present or future law of the United States of America or of the State of New Jersey and which, under the provisions of such laws, may be or become a lien upon the Mortgaged Property or have priority in payment of the mortgage debt out of the proceeds of any judicial sale of the Mortgaged Property. Such installments shall be equal respectively to 1/12 of the annual amount of such premiums, taxes and assessments as are estimated by Mortgagee and shall be held by Mortgagee to pay premiums, assessments and taxes when due. No amount so paid shall be deemed to be trust funds but may be commingled with general funds of Mortgagee, and no interest shall be payable thereon. If, pursuant to any provision of this Mortgage, the whole amount of the unpaid principal debt becomes due and payable, Mortgagee and Lessee shall, upon written request from Lessor, submit to Lessor proper and sufficient receipts or other evidence of the payment and discharge of the same; provided, however, if the Premises real property taxes, assessments or other charges are not imposed separately from the building of which they form a part, then the Lessee shall pay only forty percent (40%) thereof as its pro rata portion. Lessee shall also pay forty percent (40%) of all taxes, assessments, or other charges levied against all Common Building Improvements as defined in Section 13.3 hereof. Lessor will promptly forward any tax statements it shall receive pertaining to all or part of Lessee's premises. If taxes, assessments or other charges are imposed on areas of the property which do not comprise or affect the Premises and are not Common Building Improvements, Lessor shall pay one hundred percent (100%) of said taxes. In the event any such taxes, assessments, impositions or charges should not be paid when due, Lessor shall have the right, at its electionbut shall not be obligated, to apply pay the same. If Lessor shall make such payments, it shall thereupon become entitled to repayment by Lessee on demand, together with interest thereon as provided in Article 18. Lessee may elect to let any amount so held against improvement assessment go to bond in accordance with applicable law. Taxes and assessments levied or imposed preceding the entire indebtedness secured herebyexpiration or termination of this Lease, including payments on improvement bonds, shall be prorated as of the date of termination of this Lease. Notwithstanding Public improvement assessments previously wholly or partially paid by Lessee shall be prorated on the foregoingbasis of a 30-year amortization term as of the termination date of this Lease or any extension hereof, Mortgagee waives and Lessee shall be reimbursed for the right to collect installments unexpired portion of insurance premiums prior to an Event such 30-year period; provided, however, Lessee shall pay, as its pro rata share, forty percent (40%) of Default hereunderall improvement assessments and the like which are not assessed separately from the building of which they form a part. The first year and last year of the term of this Lease will be prorated between Lessor and Lessee.

Taxes, Assessments and Charges. (a) Mortgagor shallTenant shall pay as Additional Rent, in addition all real estate taxes, water and sewer assessments and any other assessments or substitutes therefor attributable to and concurrently with any portion of the monthly installments of interest, term hereof. Tenant shall also pay to the Mortgagee installments appropriate taxing authority the amount of casualty insurance premiums all assessments, impositions and taxes made, levied or assessed against or imposed upon any and all property of Tenant. If at any time during the term of this Lease the methods of taxation prevailing at the execution hereof shall be changed or altered so that in lieu of or as a supplement to or a substitute for the whole or any part of the real estate taxes or assessments now or from time to time hereafter levied, assessed or levied imposed by applicable taxing authorities, there shall be imposed (i) a tax, assessment, levy, imposition or charge, wholly or partially as a capital levy or otherwise, on the rents received from the PREMISES, or (ii) a tax, assessment, levy (including but not limited to any municipal, state or federal levy), imposition or charge measured by or based in whole or in part upon the Mortgaged PropertyPREMISES and imposed upon Landlord, as well as or (iii) a license fee measured by the rent payable under this Lease, then all taxes for which any party in whom title to such taxes, assessments, levies, impositions and/or charges, or the Mortgaged Property shall part thereof so measured or may hereafter vest, may be or become liable under any present or future law of the United States of America or of the State of New Jersey and which, under the provisions of such laws, may be or become a lien upon the Mortgaged Property or have priority in payment of the mortgage debt out of the proceeds of any judicial sale of the Mortgaged Property. Such installments shall be equal respectively to 1/12 of the annual amount of such premiums, taxes and assessments as are estimated by Mortgagee and shall be held by Mortgagee to pay premiums, assessments and taxes when due. No amount so paid based shall be deemed to be trust funds but may be commingled with included in the general funds real estate taxes and assessments payable by Tenant pursuant hereto, to the extent that such taxes, assessments, levies, impositions and charges are solely related to the Premises and Tenant shall pay and discharge the same as herein provided in respect of Mortgagee, the payment of general real estate taxes and no interest shall be assessments. Items payable thereon. If, by Tenant pursuant to any provision the provisions of this Mortgage, Article are sometimes referred to in this Lease as "impositions". The aforementioned adjustment would not apply to any taxes on income. Tenant shall have the whole amount right to seek an abatement of the unpaid principal debt becomes due real estate taxes and payable, Mortgagee Landlord shall have the obligation to cooperate with Tenant in its efforts to achieve any reduction in said taxes. Tenant shall also have the right, at its electionwith reasonable notice to the Landlord, to apply any amount so held against negotiate assessments with the entire indebtedness secured hereby. Notwithstanding Tax Assessor's Office prior to the foregoing, Mortgagee waives imposition of said assessment which includes the right to collect installments negotiate for an agreed assessment without the requirement of insurance premiums prior to an Event of Default hereunderseeking a formal abatement.